Harris Associates (Oakmark)

Q1 2025 13F · by Bill Nygren, CIO

As of: Mar 31, 2025
Filed: May 15, 2025
US stock: $59.5B · prev $60.3B
Positions: 158 · prev 152
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves161 since the prior filing

+6.9 pp in · −6.9 pp out

New 18 +2.13 pp
Added 50 +4.72 pp
Trimmed 81 −6.63 pp
Exited 12 −0.27 pp

The book

Diversified · behaves like 50 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 33% a year, about 3.1 years per position

Low
Moderate
High

Top 5 positions18% of US stock

Positions158 in this filing · 12 exited


GOOGLAlphabet Inc. Class A	4.34%	16,702,194	$2.6B	added+1%	−0.83 pp	38 q
SCHWThe Charles Schwab Corporation	3.63%	27,612,443	$2.2B	trimmed−0%	+0.23 pp	27 q
DEDeere & Company	3.32%	4,217,219	$2.0B	trimmed−13%	−0.10 pp	5 q
ICEIntercontinental Exchange Inc.	3.31%	11,431,282	$2.0B	trimmed−15%	0.00 pp	16 q
IQVIQVIA Holdings Inc.	3.31%	11,169,383	$2.0B	trimmed−1%	−0.38 pp	8 q
AIGAmerican International Group, Inc.	3.26%	22,323,496	$1.9B	trimmed−4%	+0.46 pp	48 q
COPConocoPhillips	3.20%	18,145,794	$1.9B	added+25%	+0.81 pp	17 q
COFCapital One Financial	2.97%	9,851,349	$1.8B	trimmed−17%	−0.54 pp	48 q
PSXPhillips 66	2.87%	13,834,824	$1.7B	added+18%	+0.66 pp	7 q
CHTRCharter Comm Inc Del CL A New	2.56%	4,142,059	$1.5B	trimmed−4%	+0.10 pp	36 q
KDPKeurig Dr Pepper Inc.	2.50%	43,428,106	$1.5B	added+53%	+0.99 pp	4 q
GMGeneral Motors Company	2.34%	29,669,259	$1.4B	trimmed−2%	−0.33 pp	48 q
CNCCentene Corporation	2.15%	21,135,939	$1.3B	trimmed−17%	−0.40 pp	7 q
CBRECbre Group, Inc.	2.13%	9,685,347	$1.3B	trimmed−10%	−0.22 pp	45 q
FISVFiserv, Inc.	2.10%	5,650,581	$1.2B	trimmed−38%	−0.98 pp	18 q
FCNCAFirst Citizens BancShares Inc	2.08%	667,011	$1.2B	added+3%	−0.19 pp	17 q
WTWWillis Towers Watson Public Limited Company	2.02%	3,556,504	$1.2B	added+1%	+0.19 pp	17 q
ABNBAirbnb, Inc. Class A	2.00%	9,944,948	$1.2B	added+86%	+0.84 pp	2 q
BACBank of America Corporation	1.99%	28,364,859	$1.2B	trimmed−6%	−0.20 pp	48 q
EFXEquifax, Incorporated	1.87%	4,570,557	$1.1B	added+28%	+0.36 pp	28 q
CCitigroup Inc.	1.85%	15,503,339	$1.1B	trimmed−7%	−0.09 pp	45 q
CNHCnh Industrial N.v.	1.73%	84,068,624	$1.0B	trimmed−28%	−0.45 pp	18 q
WBDWarner Bros. Discovery, Inc. Series A	1.72%	95,571,064	$1.0B	added0%	+0.05 pp	11 q
ELVElevance Health, Inc.	1.67%	2,280,159	$992M	added+25%	+0.56 pp	2 q
ALLYAlly Financial Inc.	1.53%	24,915,206	$909M	added+8%	+0.15 pp	38 q
WFCWells Fargo & Co.	1.42%	11,781,948	$846M	trimmed−19%	−0.27 pp	48 q
CTVACorteva, Inc.	1.37%	12,951,695	$815M	trimmed−7%	+0.06 pp	7 q
EOGEOG Resources, Inc.	1.32%	6,146,493	$788M	trimmed−24%	−0.32 pp	24 q
CMCSAComcast Corp	1.28%	20,594,519	$760M	added+1%	+0.01 pp	48 q
STTState Street Corporation	1.16%	7,689,735	$688M	added+4%	−0.04 pp	48 q
TELTE Connectivity plc	1.16%	4,879,440	$690M	added+10%	+0.11 pp	3 q
KRThe Kroger Co.	1.14%	10,035,413	$679M	trimmed−49%	−0.84 pp	9 q
MRKMerck & Co., Inc.	1.13%	7,469,360	$670M	added+20%	+0.10 pp	3 q
PAYCPaycom Software, Inc.	1.12%	3,040,085	$664M	trimmed−13%	−0.07 pp	6 q
CRBGCorebridge Financial, Inc.	1.11%	20,938,098	$661M	added0%	+0.07 pp	9 q
NDAQNasdaq, Inc.	1.11%	8,693,469	$659M	added+1%	+0.01 pp	4 q
KVUEKenvue Inc.	1.08%	26,881,719	$645M	trimmed−15%	−0.04 pp	5 q
SYYSysco Corporation	1.08%	8,566,659	$643M	added+97%	+0.53 pp	2 q
BNYBank of New York Mellon Corporation	1.02%	7,265,533	$609M	trimmed−24%	−0.19 pp	48 q
LADLithia Motors, Inc.	0.99%	2,004,527	$588M	added+3%	−0.17 pp	13 q
LBRDKLiberty Broadband Corporation Class C	0.95%	6,636,865	$564M	trimmed−1%	+0.12 pp	38 q
APAAPA Corporation	0.91%	25,708,527	$540M	added+2%	−0.06 pp	17 q
GPNGlobal Payments, Inc.	0.89%	5,417,803	$531M	added+1%	−0.10 pp	14 q
DALDelta Air Lines, Inc.	0.83%	11,292,182	$492M	added+15%	−0.15 pp	5 q
GEHCGE HealthCare Technologies Inc.	0.76%	5,633,942	$455M	added+33%	+0.21 pp	4 q
MASMasco Corporation	0.73%	6,270,597	$436M	trimmed−2%	−0.04 pp	12 q
AMZNAmazon.Com Inc	0.71%	2,231,415	$425M	trimmed−31%	−0.46 pp	14 q
RGAReinsurance Group of America, Incorporated	0.71%	2,140,505	$421M	added+7%	0.00 pp	21 q
CVSCvs Health Corporation	0.68%	5,995,818	$406M	added+5%	+0.26 pp	48 q
FBINFortune Brands Innovations, Inc.	0.68%	6,656,364	$405M	added+6%	−0.03 pp	11 q
CGThe Carlyle Group Inc.	0.64%	8,787,043	$383M	added×2.8	+0.37 pp	2 q
MOHMolina Healthcare, Inc.	0.58%	1,047,433	$345M	new	+0.58 pp	new
BWABorgWarner Inc.	0.57%	11,778,269	$337M	added0%	−0.05 pp	48 q
GPCGenuine Parts Company	0.56%	2,820,605	$336M	added+6%	+0.04 pp	3 q
STZConstellation Brands, Inc.	0.53%	1,728,367	$317M	new	+0.53 pp	new
BAXBaxter International Inc.	0.52%	9,003,931	$308M	added+6%	+0.11 pp	37 q
MPCMarathon Petroleum Corporation	0.52%	2,136,760	$311M	new	+0.52 pp	new
BDXBecton, Dickinson and Co.	0.50%	1,291,893	$296M	added+45%	+0.16 pp	2 q
VVISA Inc.	0.49%	838,016	$294M	trimmed−4%	+0.03 pp	48 q
RYAAYRyanair Holdings plc	0.45%	6,376,673	$270M	trimmed−12%	−0.07 pp	29 q
MGAMagna International	0.41%	7,124,624	$242M	added+1%	−0.08 pp	10 q
GOOGAlphabet Inc. Class C	0.39%	1,490,406	$233M	trimmed−3%	−0.10 pp	44 q
OTEXOpen Text Corp	0.38%	8,979,797	$227M	added0%	−0.04 pp	23 q
BLKBlackrock, Inc.	0.36%	229,134	$217M	added+1%	−0.03 pp	2 q
APTVAptiv PLC	0.32%	3,154,576	$188M	trimmed−18%	−0.06 pp	2 q
BCBrunswick Corporation	0.31%	3,472,408	$187M	added+23%	+0.01 pp	7 q
SEESealed Air Corp New	0.31%	6,366,233	$184M	added+7%	−0.02 pp	20 q
MTNVail Resorts, Inc.	0.28%	1,035,821	$166M	added+12%	−0.01 pp	9 q
MDLZMondelez International, Inc. Class A	0.27%	2,349,475	$159M	new	+0.27 pp	new
ORCLOracle Corp	0.26%	1,103,635	$154M	trimmed−26%	−0.15 pp	48 q
NVSTEnvista Holdings Corporation, $0.01 par value per share	0.25%	8,681,256	$150M	trimmed−8%	−0.05 pp	21 q
IPGThe Interpublic Group of Companies, Inc.	0.24%	5,227,679	$142M	trimmed−20%	−0.06 pp	44 q
WENThe Wendy's Company	0.24%	9,751,310	$143M	added+5%	−0.01 pp	14 q
CECelanese Corporation	0.21%	2,253,496	$128M	added+1%	−0.04 pp	8 q
WMGWarner Music Group Corp. Class A	0.21%	4,022,305	$126M	trimmed−1%	0.00 pp	15 q
FLUTFlutter Entertainment plc	0.21%	573,575	$127M	new	+0.21 pp	new
HHHHoward Hughes Holdings Inc.	0.20%	1,588,307	$118M	trimmed−1%	0.00 pp	7 q
THOThor Industries, Inc.	0.19%	1,469,778	$111M	trimmed−1%	−0.05 pp	28 q
ABMABM Industries, Inc.	0.18%	2,287,761	$108M	added+8%	0.00 pp	12 q
HCAHCA Healthcare, Inc.	0.18%	305,031	$105M	trimmed−5%	+0.02 pp	37 q
CRMSalesforce, Inc.	0.15%	325,683	$87M	trimmed−76%	−0.59 pp	17 q
AXPAmerican Express Company	0.12%	262,756	$71M	trimmed−9%	−0.02 pp	21 q
OPLNOPENLANE, Inc	0.12%	3,853,710	$74M	trimmed−0%	−0.01 pp	15 q
MAMastercard Incorporated	0.12%	129,350	$71M	trimmed−2%	+0.01 pp	48 q
KKRKKR & Co. Inc.	0.10%	509,361	$59M	trimmed−29%	−0.08 pp	18 q
ACVAACV Auctions Inc.	0.07%	2,990,793	$42M	added+32%	−0.01 pp	14 q
GSGoldman Sachs Group Inc.	0.07%	78,483	$43M	trimmed−32%	−0.04 pp	48 q
LPLALPL Financial Holdings Inc.	0.07%	135,474	$44M	trimmed−31%	−0.04 pp	3 q
ALSNAllison Transmission Holdings, Inc.	0.06%	381,447	$36M	trimmed−2%	−0.01 pp	17 q
HLTHilton Worldwide Holdings Inc.	0.06%	168,353	$38M	trimmed−40%	−0.05 pp	29 q
AAPLApple Inc.	0.05%	128,542	$29M	trimmed−1%	0.00 pp	48 q
ALVAutoliv, Inc.	0.05%	346,620	$31M	trimmed−1%	0.00 pp	25 q
91990EURCushman & Wakefield UK Holdc	0.05%	3,073,102	$31M	added+2%	−0.02 pp	16 q
GRFSGrifois, S.A.	0.04%	3,439,000	$24M	trimmed−8%	−0.01 pp	13 q
LEALear Corporation	0.04%	263,295	$23M	trimmed−5%	0.00 pp	48 q
BRK.BBERKSHIRE HATHAWAY Class B	0.03%	28,682	$15M	trimmed−12%	+0.01 pp	22 q
CCKCrown Holdings Inc.	0.03%	195,989	$17M	added+2%	0.00 pp	9 q
TFCTruist Financial Corporation	0.03%	412,310	$17M	trimmed−1%	0.00 pp	9 q
BABAAlibaba Group Holding Limited	0.02%	109,886	$15M	trimmed−42%	−0.01 pp	2 q
CIGIColliers International Group Inc. Subordinate Voting Shares	0.02%	84,300	$10M	trimmed−9%	0.00 pp	9 q
TRGPTarga Resources Corp.	0.02%	72,100	$14M	new	+0.02 pp	new
SPNNSapiens International Corp	0.02%	495,880	$13M	added+32%	0.00 pp	8 q
CSLCarlisle Companies, Inc.	0.01%	10,218	$3M	trimmed−36%	0.00 pp	29 q
CRICarter's Inc.	0.01%	122,138	$5M	trimmed−69%	−0.03 pp	48 q
DHRDanaher Corporation	0.01%	15,616	$3M	trimmed−12%	0.00 pp	8 q
MANManpowerGroup	0.01%	99,116	$6M	trimmed−2%	0.00 pp	25 q
NFLXNetFlix Inc	0.01%	3,311	$3M	trimmed−13%	0.00 pp	31 q
TXNTexas Instruments Incorporated	0.01%	47,942	$9M	trimmed−3%	−0.01 pp	48 q
WDAYWorkday, Inc. Class A	0.01%	24,168	$6M	trimmed−5%	0.00 pp	22 q
ADPAutomatic Data Processing	0.00%	1,355	$413,993	held	—	48 q
BKNGBooking Holdings Inc.	0.00%	61	$281,022	trimmed−60%	0.00 pp	29 q
BMYBristol-Myers Squibb Co.	0.00%	12,000	$731,880	new	0.00 pp	new
CATCaterpillar Inc.	0.00%	1,880	$620,024	trimmed−2%	0.00 pp	46 q
CVXChevron Corporation	0.00%	1,855	$310,323	trimmed−15%	0.00 pp	10 q
CFGCitizens Financial Group, Inc.	0.00%	16,022	$656,421	held	—	8 q
DEODiageo plc	0.00%	11,566	$1M	added+6%	0.00 pp	48 q
DISThe Walt Disney Company	0.00%	5,017	$495,178	trimmed−96%	−0.02 pp	20 q
DOVDover Corporation	0.00%	12,920	$2M	trimmed−6%	0.00 pp	48 q
EBAYeBay Inc	0.00%	10,500	$711,165	trimmed−1%	0.00 pp	26 q
VSTSVestis Corporation	0.00%	295,235	$3M	added×2.5	0.00 pp	4 q
ETSYEtsy, Inc.	0.00%	24,571	$1M	trimmed−99%	−0.16 pp	5 q
XOMExxon Mobil Corp	0.00%	5,917	$703,709	new	0.00 pp	new
METAMeta Platforms, Inc. Class A	0.00%	2,647	$2M	trimmed−91%	−0.03 pp	29 q
FMSFresenius Medical Care AG	0.00%	10,695	$266,306	new	0.00 pp	new
HRIHerc Holdings Inc.	0.00%	7,250	$973,458	trimmed−3%	0.00 pp	36 q
HONHoneywell International, Inc.	0.00%	3,010	$637,368	new	0.00 pp	new
INTCIntel Corp	0.00%	29,134	$661,633	new	0.00 pp	new
EEMiShares MSCI Emerging Markets ETF	0.00%	51	$2,229	held	—	3 q
EFAiShares MSCI EAFE ETF	0.00%	882	$72,086	trimmed−9%	0.00 pp	3 q
IWMiShares Russell 2000 ETF	0.00%	533	$106,328	new	0.00 pp	new
ACWXiShares MSCI ACWI ex US ETF	0.00%	94	$5,212	held	—	3 q
ACWIiShares MSCI ACWI ETF	0.00%	1,892	$220,210	trimmed−18%	0.00 pp	3 q
IGFiShares Global Infrastructure ETF	0.00%	312	$17,057	held	—	3 q
ITAiShares U.S. Aerospace & Defense ETF	0.00%	14	$2,143	new	0.00 pp	new
EUFNiShares MSCI Europe Financials ETF	0.00%	600	$17,094	held	—	2 q
INDAiShares MSCI India ETF	0.00%	600	$30,888	held	—	2 q
JPMJPMorgan Chase & Co.	0.00%	4,888	$1M	added+1%	0.00 pp	48 q
LWLamb Weston Holdings, Inc.	0.00%	18,143	$967,022	trimmed−81%	−0.01 pp	3 q
LBRDALiberty Broadband Corporation Class A	0.00%	18,130	$2M	trimmed−4%	0.00 pp	22 q
LYGLloyds Banking Group PLC	0.00%	45,390	$173,390	trimmed−12%	0.00 pp	5 q
MBCMasterBrand, Inc.	0.00%	50,362	$657,728	held	—	10 q
MCDMcDonald's Corporation	0.00%	7,960	$2M	added×8.3	0.00 pp	2 q
MSFTMicrosoft Corp	0.00%	3,797	$1M	added+2%	0.00 pp	48 q
MCOMoody's Corporation	0.00%	3,290	$2M	trimmed−60%	−0.01 pp	33 q
NVDANvidia Corp	0.00%	4,340	$470,369	added+2%	0.00 pp	3 q
PMPhilip Morris International Inc.	0.00%	4,700	$746,031	trimmed−0%	0.00 pp	48 q
PUKPrudential PLC	0.00%	11,555	$248,433	new	0.00 pp	new
SPGIS&P Global Inc.	0.00%	500	$254,050	trimmed−53%	0.00 pp	25 q
SPYState Street SPDR S&P 500 ETF Trust	0.00%	2,846	$2M	trimmed−95%	−0.06 pp	12 q
SEGSeaport Entertainment Group Inc.	0.00%	125,230	$3M	trimmed−37%	−0.01 pp	3 q
THCTenet Healthcare Corporation New	0.00%	2,400	$322,800	trimmed−29%	0.00 pp	48 q
TRNTrinity Industries, Inc.	0.00%	16,100	$451,766	new	0.00 pp	new
unresolvedUnilever Spn.Adr 1:1	0.00%	5,500	$327,525	new	0.00 pp	new
VOOVanguard S&P 500 ETF	0.00%	156	$80,170	new	0.00 pp	new
VTVVanguard Morningstar Value ETF	0.00%	6,100	$1M	trimmed−59%	0.00 pp	4 q
VTIVanguard Morningstar Total Stock Market ETF	0.00%	50	$13,742	held	—	3 q
WMTWalmart Inc.	0.00%	19,422	$2M	new	0.00 pp	new
JCIJohnson Controls International plc	0.00%	12,350	$989,359	trimmed−75%	−0.01 pp	30 q
LBTYALiberty Global Ltd. Class A	—	−6,934,484	—	exited	−0.15 pp	—
BECNBeacon Roofing Supply, Inc.	—	−211,895	—	exited	−0.04 pp	—
SNRENSunrise Communicat-cl A	—	−504,644	—	exited	−0.04 pp	—
IWDiShares Russell 1000 Value ETF	—	−59,610	—	exited	−0.02 pp	—
SWSmurfit Westrock plc	—	−273,845	—	exited	−0.02 pp	—
MOAltria Group, Inc.	—	−6,550	—	exited	0.00 pp	—
FLSFlowserve Corporation	—	−11,200	—	exited	0.00 pp	—
GDGeneral Dynamics Corporation	—	−1,325	—	exited	0.00 pp	—
HDHome Depot, Inc.	—	−534	—	exited	0.00 pp	—
IJRiShares Core S&P Small-Cap ETF	—	−70	—	exited	0.00 pp	—
PHParker-Hannifin Corporation	—	−814	—	exited	0.00 pp	—
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	—	−436	—	exited	0.00 pp	—