Harris Associates (Oakmark)

Q2 2025 13F · by Bill Nygren, CIO

As of: Jun 30, 2025
Filed: Aug 14, 2025
US stock: $61.5B · prev $59.5B
Positions: 171 · prev 158
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%

Moves183 since the prior filing

+9.6 pp in · −9.6 pp out

New 30 +2.37 pp
Added 59 +7.20 pp
Trimmed 77 −9.53 pp
Exited 17 −0.08 pp

The book

Diversified · behaves like 52 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 43% a year, about 2.3 years per position

Low
Moderate
High

Top 5 positions18% of US stock

Positions171 in this filing · 17 exited


GOOGLAlphabet Inc. Class A	4.51%	15,749,876	$2.8B	trimmed−6%	+0.17 pp	39 q
COFCapital One Financial	3.48%	10,068,086	$2.1B	added+2%	+0.51 pp	49 q
SCHWThe Charles Schwab Corporation	3.41%	22,969,673	$2.1B	trimmed−17%	−0.22 pp	28 q
ABNBAirbnb, Inc. Class A	3.06%	14,237,331	$1.9B	added+43%	+1.06 pp	3 q
ICEIntercontinental Exchange Inc.	3.06%	10,270,241	$1.9B	trimmed−10%	−0.25 pp	17 q
IQVIQVIA Holdings Inc.	3.01%	11,753,182	$1.9B	added+5%	−0.30 pp	9 q
COPConocoPhillips	2.83%	19,380,459	$1.7B	added+7%	−0.37 pp	18 q
PSXPhillips 66	2.61%	13,449,090	$1.6B	trimmed−3%	−0.26 pp	8 q
KDPKeurig Dr Pepper Inc.	2.53%	47,118,176	$1.6B	added+9%	+0.03 pp	5 q
CHTRCharter Comm Inc Del CL A New	2.44%	3,672,367	$1.5B	trimmed−11%	−0.12 pp	37 q
AIGAmerican International Group, Inc.	2.40%	17,269,384	$1.5B	trimmed−23%	−0.86 pp	49 q
FCNCAFirst Citizens BancShares Inc	2.34%	736,249	$1.4B	added+10%	+0.26 pp	18 q
BACBank of America Corporation	2.26%	29,413,333	$1.4B	added+4%	+0.27 pp	49 q
CCitigroup Inc.	2.23%	16,145,823	$1.4B	added+4%	+0.38 pp	46 q
EFXEquifax, Incorporated	2.15%	5,107,787	$1.3B	added+12%	+0.28 pp	29 q
CBRECbre Group, Inc.	2.07%	9,094,648	$1.3B	trimmed−6%	−0.06 pp	46 q
WBDWarner Bros. Discovery, Inc. Series A	2.03%	108,926,085	$1.2B	added+14%	+0.31 pp	12 q
GMGeneral Motors Company	2.02%	25,303,360	$1.2B	trimmed−15%	−0.32 pp	49 q
WTWWillis Towers Watson Public Limited Company	1.89%	3,786,257	$1.2B	added+6%	−0.13 pp	18 q
DEDeere & Company	1.81%	2,185,155	$1.1B	trimmed−48%	−1.51 pp	6 q
CNCCentene Corporation	1.80%	20,418,731	$1.1B	trimmed−3%	−0.35 pp	8 q
ALLYAlly Financial Inc.	1.70%	26,836,790	$1.0B	added+8%	+0.17 pp	39 q
AMZNAmazon.Com Inc	1.68%	4,703,993	$1.0B	added×2.1	+0.97 pp	15 q
CNHCnh Industrial N.v.	1.67%	79,030,123	$1.0B	trimmed−6%	−0.06 pp	19 q
TELTE Connectivity plc	1.51%	5,499,313	$928M	added+13%	+0.35 pp	4 q
FISVFiserv, Inc.	1.49%	5,330,732	$919M	trimmed−6%	−0.61 pp	19 q
WFCWells Fargo & Co.	1.49%	11,468,187	$919M	trimmed−3%	+0.07 pp	49 q
ELVElevance Health, Inc.	1.45%	2,287,565	$890M	added0%	−0.22 pp	3 q
CRMSalesforce, Inc.	1.33%	2,992,586	$816M	added×9.2	+1.18 pp	18 q
STTState Street Corporation	1.32%	7,621,427	$810M	trimmed−1%	+0.16 pp	49 q
CMCSAComcast Corp	1.24%	21,402,223	$764M	added+4%	−0.04 pp	49 q
MRKMerck & Co., Inc.	1.18%	9,131,318	$723M	added+22%	+0.05 pp	4 q
CRBGCorebridge Financial, Inc.	1.16%	20,138,267	$715M	trimmed−4%	+0.05 pp	10 q
GEHCGE HealthCare Technologies Inc.	1.16%	9,672,433	$716M	added+72%	+0.40 pp	5 q
NDAQNasdaq, Inc.	1.13%	7,771,730	$695M	trimmed−11%	+0.02 pp	5 q
DALDelta Air Lines, Inc.	1.12%	14,048,629	$691M	added+24%	+0.29 pp	6 q
MPCMarathon Petroleum Corporation	1.12%	4,128,430	$686M	added+93%	+0.60 pp	2 q
LADLithia Motors, Inc.	1.09%	1,991,461	$673M	trimmed−1%	+0.10 pp	14 q
SYYSysco Corporation	1.08%	8,731,303	$661M	added+2%	0.00 pp	3 q
LBRDKLiberty Broadband Corporation Class C	1.03%	6,410,920	$631M	trimmed−3%	+0.08 pp	39 q
NKENike, Inc.	1.01%	8,748,943	$622M	new	+1.01 pp	new
CGThe Carlyle Group Inc.	0.95%	11,315,984	$582M	added+29%	+0.31 pp	3 q
EOGEOG Resources, Inc.	0.91%	4,660,244	$557M	trimmed−24%	−0.41 pp	25 q
GPNGlobal Payments, Inc.	0.87%	6,676,892	$534M	added+23%	−0.02 pp	15 q
CTVACorteva, Inc.	0.84%	6,907,715	$515M	trimmed−47%	−0.53 pp	8 q
BDXBecton, Dickinson and Co.	0.82%	2,917,284	$503M	added×2.3	+0.32 pp	3 q
APAAPA Corporation	0.79%	26,606,120	$487M	added+3%	−0.12 pp	18 q
PAYCPaycom Software, Inc.	0.78%	2,081,854	$482M	trimmed−32%	−0.34 pp	7 q
MASMasco Corporation	0.77%	7,316,545	$471M	added+17%	+0.04 pp	13 q
RGAReinsurance Group of America, Incorporated	0.77%	2,383,546	$473M	added+11%	+0.06 pp	22 q
MOHMolina Healthcare, Inc.	0.75%	1,541,308	$459M	added+47%	+0.17 pp	2 q
BNYBank of New York Mellon Corporation	0.73%	4,906,153	$447M	trimmed−32%	−0.29 pp	49 q
FBINFortune Brands Innovations, Inc.	0.63%	7,581,775	$390M	added+14%	−0.05 pp	12 q
GPCGenuine Parts Company	0.57%	2,909,399	$353M	added+3%	+0.01 pp	4 q
ZBHZimmer Biomet Holdings, Inc.	0.55%	3,732,101	$340M	new	+0.55 pp	new
BAXBaxter International Inc.	0.46%	9,348,468	$283M	added+4%	−0.06 pp	38 q
STZConstellation Brands, Inc.	0.46%	1,753,279	$285M	added+1%	−0.07 pp	2 q
MGAMagna International	0.46%	7,302,690	$282M	added+3%	+0.05 pp	11 q
VVISA Inc.	0.45%	773,849	$275M	trimmed−8%	−0.04 pp	49 q
BLKBlackrock, Inc.	0.44%	260,716	$274M	added+14%	+0.08 pp	3 q
GOOGAlphabet Inc. Class C	0.39%	1,365,005	$242M	trimmed−8%	0.00 pp	45 q
ICLRIcon Plc	0.39%	1,638,059	$238M	new	+0.39 pp	new
FLUTFlutter Entertainment plc	0.38%	808,559	$231M	added+41%	+0.17 pp	2 q
RYAAYRyanair Holdings plc	0.37%	3,916,432	$226M	trimmed−39%	−0.08 pp	30 q
ORCLOracle Corp	0.36%	1,023,151	$224M	trimmed−7%	+0.10 pp	49 q
BCBrunswick Corporation	0.34%	3,807,002	$210M	added+10%	+0.03 pp	8 q
CECelanese Corporation	0.32%	3,555,067	$197M	added+58%	+0.11 pp	9 q
CRLCharles River Laboratories International, Inc.	0.29%	1,162,935	$176M	new	+0.29 pp	new
SEESealed Air Corp New	0.27%	5,341,389	$166M	trimmed−16%	−0.04 pp	21 q
OTEXOpen Text Corp	0.26%	5,498,367	$161M	trimmed−39%	−0.12 pp	24 q
NVSTEnvista Holdings Corporation, $0.01 par value per share	0.25%	7,812,256	$153M	trimmed−10%	0.00 pp	22 q
MTNVail Resorts, Inc.	0.25%	972,558	$153M	trimmed−6%	−0.03 pp	10 q
WENThe Wendy's Company	0.21%	11,076,295	$126M	added+14%	−0.03 pp	15 q
ABMABM Industries, Inc.	0.20%	2,618,172	$124M	added+14%	+0.02 pp	13 q
KVUEKenvue Inc.	0.19%	5,652,093	$118M	trimmed−79%	−0.89 pp	6 q
THOThor Industries, Inc.	0.19%	1,327,051	$118M	trimmed−10%	0.00 pp	29 q
BWABorgWarner Inc.	0.15%	2,772,856	$93M	trimmed−76%	−0.42 pp	49 q
HCAHCA Healthcare, Inc.	0.15%	242,180	$93M	trimmed−21%	−0.03 pp	38 q
MDLZMondelez International, Inc. Class A	0.15%	1,364,254	$92M	trimmed−42%	−0.12 pp	2 q
APTVAptiv PLC	0.15%	1,385,171	$94M	trimmed−56%	−0.17 pp	3 q
OPLNOPENLANE, Inc	0.14%	3,590,550	$88M	trimmed−7%	+0.02 pp	16 q
AXPAmerican Express Company	0.13%	248,876	$79M	trimmed−5%	+0.01 pp	22 q
MAMastercard Incorporated	0.12%	127,112	$71M	trimmed−2%	0.00 pp	49 q
WMGWarner Music Group Corp. Class A	0.12%	2,759,890	$75M	trimmed−31%	−0.09 pp	16 q
ALSNAllison Transmission Holdings, Inc.	0.11%	712,727	$68M	added+87%	+0.05 pp	18 q
IPGThe Interpublic Group of Companies, Inc.	0.10%	2,395,523	$59M	trimmed−54%	−0.14 pp	45 q
CVSCvs Health Corporation	0.09%	844,049	$58M	trimmed−86%	−0.59 pp	49 q
KKRKKR & Co. Inc.	0.09%	430,632	$57M	trimmed−15%	−0.01 pp	19 q
ACVAACV Auctions Inc.	0.08%	3,042,199	$49M	added+2%	+0.01 pp	15 q
GSGoldman Sachs Group Inc.	0.08%	66,095	$47M	trimmed−16%	+0.01 pp	49 q
TRGPTarga Resources Corp.	0.07%	260,110	$45M	added×3.6	+0.05 pp	2 q
ALVAutoliv, Inc.	0.06%	334,515	$37M	trimmed−3%	+0.01 pp	26 q
CDWCDW Corporation	0.06%	198,701	$35M	new	+0.06 pp	new
HLTHilton Worldwide Holdings Inc.	0.06%	148,830	$40M	trimmed−12%	0.00 pp	30 q
OCOwens Corning	0.06%	262,045	$36M	new	+0.06 pp	new
GRFSGrifois, S.A.	0.05%	3,125,900	$28M	trimmed−9%	+0.01 pp	14 q
KRThe Kroger Co.	0.05%	389,033	$28M	trimmed−96%	−1.09 pp	10 q
91990EURCushman & Wakefield UK Holdc	0.05%	2,920,889	$32M	trimmed−5%	0.00 pp	17 q
AAPLApple Inc.	0.04%	130,818	$27M	added+2%	−0.01 pp	49 q
LEALear Corporation	0.04%	236,118	$22M	trimmed−10%	0.00 pp	49 q
CCKCrown Holdings Inc.	0.03%	188,289	$19M	trimmed−4%	0.00 pp	10 q
SPNNSapiens International Corp	0.03%	673,980	$20M	added+36%	+0.01 pp	9 q
BRK.BBERKSHIRE HATHAWAY Class B	0.02%	27,699	$13M	trimmed−3%	−0.01 pp	23 q
CIGIColliers International Group Inc. Subordinate Voting Shares	0.02%	106,200	$14M	added+26%	0.00 pp	10 q
TXNTexas Instruments Incorporated	0.02%	48,740	$10M	added+2%	+0.01 pp	49 q
CSXCSX Corporation	0.01%	194,360	$6M	new	+0.01 pp	new
HHHHoward Hughes Holdings Inc.	0.01%	124,601	$8M	trimmed−92%	−0.19 pp	8 q
MSFTMicrosoft Corp	0.01%	6,750	$3M	added+78%	+0.01 pp	49 q
NFLXNetFlix Inc	0.01%	3,219	$4M	trimmed−3%	0.00 pp	32 q
ABTAbbott Laboratories	0.00%	2,071	$281,677	new	0.00 pp	new
ABBVAbbvie Inc.	0.00%	3,163	$587,116	new	0.00 pp	new
AMDAdvanced Micro Devices	0.00%	1,860	$263,934	new	0.00 pp	new
BABAAlibaba Group Holding Limited	0.00%	2,515	$285,226	trimmed−98%	−0.02 pp	3 q
AMATApplied Materials Inc	0.00%	2,200	$402,754	new	0.00 pp	new
ADPAutomatic Data Processing	0.00%	1,605	$494,982	added+18%	0.00 pp	49 q
BTXBlackRock Technology and Private Equity Term Trust	0.00%	25,000	$183,500	new	0.00 pp	new
BKNGBooking Holdings Inc.	0.00%	46	$266,305	trimmed−25%	0.00 pp	30 q
AVGOBroadcom Inc.	0.00%	2,032	$560,121	new	0.00 pp	new
CSLCarlisle Companies, Inc.	0.00%	6,685	$2M	trimmed−35%	−0.01 pp	30 q
CRICarter's Inc.	0.00%	13,870	$417,903	trimmed−89%	−0.01 pp	49 q
CATCaterpillar Inc.	0.00%	2,658	$1M	added+41%	0.00 pp	47 q
CVXChevron Corporation	0.00%	2,497	$357,545	added+35%	0.00 pp	11 q
CFGCitizens Financial Group, Inc.	0.00%	16,022	$716,985	held	—	9 q
COSTCostco Wholesale Corp	0.00%	581	$575,155	new	0.00 pp	new
DHRDanaher Corporation	0.00%	3,301	$652,080	trimmed−79%	−0.01 pp	9 q
DEODiageo plc	0.00%	11,994	$1M	added+4%	0.00 pp	49 q
DISThe Walt Disney Company	0.00%	1,613	$200,028	trimmed−68%	0.00 pp	21 q
DOVDover Corporation	0.00%	12,287	$2M	trimmed−5%	0.00 pp	49 q
EBAYeBay Inc	0.00%	8,500	$632,910	trimmed−19%	0.00 pp	27 q
ETEnergy Transfer LP	0.00%	16,500	$299,145	new	0.00 pp	new
XOMExxon Mobil Corp	0.00%	7,166	$772,495	added+21%	0.00 pp	2 q
METAMeta Platforms, Inc. Class A	0.00%	3,545	$3M	added+34%	0.00 pp	30 q
FMSFresenius Medical Care AG	0.00%	9,750	$278,558	trimmed−9%	0.00 pp	2 q
HDBHDFC Bank Limited	0.00%	3,000	$230,010	new	0.00 pp	new
HRIHerc Holdings Inc.	0.00%	7,250	$954,753	held	—	37 q
HDHome Depot, Inc.	0.00%	693	$254,082	new	0.00 pp	new
HONHoneywell International, Inc.	0.00%	1,337	$311,361	trimmed−56%	0.00 pp	2 q
INTUIntuit Inc	0.00%	264	$207,934	new	0.00 pp	new
RSPInvesco S&P 500 Equal Weight ETF	0.00%	1,469	$266,976	new	0.00 pp	new
EFAiShares MSCI EAFE ETF	0.00%	669	$59,802	trimmed−24%	0.00 pp	4 q
IWRiShares Russell Mid-Cap ETF	0.00%	1,000	$91,942	new	0.00 pp	new
IWMiShares Russell 2000 ETF	0.00%	783	$168,893	added+47%	0.00 pp	2 q
ACWIiShares MSCI ACWI ETF	0.00%	1,092	$140,431	trimmed−42%	0.00 pp	4 q
EUFNiShares MSCI Europe Financials ETF	0.00%	600	$18,978	held	—	3 q
INDAiShares MSCI India ETF	0.00%	600	$33,408	held	—	3 q
JPMJPMorgan Chase & Co.	0.00%	5,804	$2M	added+19%	0.00 pp	49 q
KBKB Financial Group Inc	0.00%	3,545	$292,782	new	0.00 pp	new
LBRDALiberty Broadband Corporation Class A	0.00%	13,345	$1M	trimmed−26%	0.00 pp	23 q
LLYEli Lilly & Co.	0.00%	414	$322,725	new	0.00 pp	new
LYGLloyds Banking Group PLC	0.00%	28,590	$121,508	trimmed−37%	0.00 pp	6 q
MBCMasterBrand, Inc.	0.00%	112,402	$1M	added×2.2	0.00 pp	11 q
MCDMcDonald's Corporation	0.00%	1,416	$413,713	trimmed−82%	0.00 pp	3 q
MCOMoody's Corporation	0.00%	2,915	$1M	trimmed−11%	0.00 pp	34 q
NVDANvidia Corp	0.00%	16,700	$3M	added×3.8	0.00 pp	4 q
PDXPIMCO Dynamic Income Strategy Fund	0.00%	10,000	$267,600	new	0.00 pp	new
PHParker-Hannifin Corporation	0.00%	295	$206,049	new	0.00 pp	new
PEPPepsiCo, Inc.	0.00%	2,495	$329,440	new	0.00 pp	new
PMPhilip Morris International Inc.	0.00%	5,099	$928,681	added+8%	0.00 pp	49 q
PGProcter & Gamble Company	0.00%	1,685	$268,454	new	0.00 pp	new
PUKPrudential PLC	0.00%	8,870	$221,927	trimmed−23%	0.00 pp	2 q
SPYState Street SPDR S&P 500 ETF Trust	0.00%	2,287	$1M	trimmed−20%	0.00 pp	13 q
SYKStryker Corporation	0.00%	571	$225,905	new	0.00 pp	new
THCTenet Healthcare Corporation New	0.00%	2,400	$422,400	held	—	49 q
TFCTruist Financial Corporation	0.00%	27,930	$1M	trimmed−93%	−0.03 pp	10 q
VOTVanguard Morningstar Mid-Cap Growth ETF	0.00%	700	$199,073	new	0.00 pp	new
VTVVanguard Morningstar Value ETF	0.00%	2,982	$527,039	trimmed−51%	0.00 pp	5 q
WMTWalmart Inc.	0.00%	2,637	$257,846	trimmed−86%	0.00 pp	2 q
WDAYWorkday, Inc. Class A	0.00%	6,104	$1M	trimmed−75%	−0.01 pp	23 q
ZTSZoetis Inc.	0.00%	1,405	$219,110	new	0.00 pp	new
AONAon plc Class A	0.00%	699	$249,375	new	0.00 pp	new
JCIJohnson Controls International plc	0.00%	9,450	$998,109	trimmed−23%	0.00 pp	31 q
LPLALPL Financial Holdings Inc.	—	−135,474	—	exited	−0.07 pp	—
MANManpowerGroup	—	−99,116	—	exited	−0.01 pp	—
BMYBristol-Myers Squibb Co.	—	−12,000	—	exited	0.00 pp	—
VSTSVestis Corporation	—	−295,235	—	exited	0.00 pp	—
ETSYEtsy, Inc.	—	−24,571	—	exited	0.00 pp	—
INTCIntel Corp	—	−29,134	—	exited	0.00 pp	—
EEMiShares MSCI Emerging Markets ETF	—	−51	—	exited	0.00 pp	—
ACWXiShares MSCI ACWI ex US ETF	—	−94	—	exited	0.00 pp	—
IGFiShares Global Infrastructure ETF	—	−312	—	exited	0.00 pp	—
ITAiShares U.S. Aerospace & Defense ETF	—	−14	—	exited	0.00 pp	—
LWLamb Weston Holdings, Inc.	—	−18,143	—	exited	0.00 pp	—
SPGIS&P Global Inc.	—	−500	—	exited	0.00 pp	—
SEGSeaport Entertainment Group Inc.	—	−125,230	—	exited	0.00 pp	—
TRNTrinity Industries, Inc.	—	−16,100	—	exited	0.00 pp	—
unresolvedUnilever Spn.Adr 1:1	—	−5,500	—	exited	0.00 pp	—
VOOVanguard S&P 500 ETF	—	−156	—	exited	0.00 pp	—
VTIVanguard Morningstar Total Stock Market ETF	—	−50	—	exited	0.00 pp	—