Harris Associates (Oakmark) 13F, Q3 2025
Bill Nygren · quarter ending 30 September 2025 · filed 14 November 2025 · SEC CIK 813917
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q3 2025
The 25 largest of 177 positions. Weights are against the whole filed book. Changes are in shares held, against the Q2 2025 filing.
| Company | Ticker | Value | % of book | vs Q2 2025 |
|---|---|---|---|---|
| <![CDATA[ALPHABET INC]]> | GOOGL | $2.77B | 4.5% | -28% shares |
| <![CDATA[IQVIA HLDGS INC]]> | IQV | $2.16B | 3.5% | -3% shares |
| <![CDATA[SCHWAB CHARLES CORP]]> | SCHW | $2.03B | 3.3% | -8% shares |
| <![CDATA[CAPITAL ONE FINL CORP]]> | COF | $1.92B | 3.1% | -10% shares |
| <![CDATA[AIRBNB INC]]> | ABNB | $1.88B | 3.0% | +9% shares |
| <![CDATA[WARNER BROS DISCOVERY INC]]> | WBD | $1.87B | 3.0% | -12% shares |
| <![CDATA[PHILLIPS 66]]> | PSX | $1.86B | 3.0% | unchanged |
| <![CDATA[CONOCOPHILLIPS]]> | COP | $1.78B | 2.9% | -3% shares |
| <![CDATA[INTERCONTINENTAL EXCHANGE IN]]> | ICE | $1.72B | 2.8% | unchanged |
| <![CDATA[SALESFORCE INC]]> | CRM | $1.67B | 2.7% | +136% shares |
| <![CDATA[KEURIG DR PEPPER INC]]> | KDP | $1.60B | 2.6% | +33% shares |
| <![CDATA[EQUIFAX INC]]> | EFX | $1.50B | 2.4% | +14% shares |
| <![CDATA[WILLIS TOWERS WATSON PLC LTD]]> | $1.48B | 2.4% | +13% shares | |
| <![CDATA[CITIGROUP INC]]> | C | $1.40B | 2.3% | -14% shares |
| <![CDATA[BANK AMERICA CORP]]> | BAC | $1.40B | 2.3% | -8% shares |
| <![CDATA[AMERICAN INTL GROUP INC]]> | AIG | $1.40B | 2.2% | +3% shares |
| <![CDATA[FIRST CTZNS BANCSHARES INC D]]> | FCNCA | $1.32B | 2.1% | unchanged |
| <![CDATA[GENERAL MTRS CO]]> | GM | $1.28B | 2.1% | -17% shares |
| <![CDATA[CBRE GROUP INC]]> | CBRE | $1.09B | 1.7% | -24% shares |
| <![CDATA[ALLY FINL INC]]> | ALLY | $1.06B | 1.7% | unchanged |
| <![CDATA[ELEVANCE HEALTH INC FORMERLY]]> | ELV | $1.03B | 1.6% | +39% shares |
| <![CDATA[DEERE & CO]]> | DE | $985.94M | 1.6% | unchanged |
| <![CDATA[CHARTER COMMUNICATIONS INC N]]> | CHTR | $961.37M | 1.5% | -5% shares |
| <![CDATA[AMAZON COM INC]]> | AMZN | $955.62M | 1.5% | -8% shares |
| <![CDATA[WELLS FARGO CO NEW]]> | WFC | $905.45M | 1.4% | -6% shares |
What changed since Q2 2025
Against the Q2 2025 filing, Harris Associates (Oakmark) opened 18 new positions, added to 31, trimmed 83, left 45 unchanged and exited 12. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
- UNP$346.42M
- FMX$266.90M
- <![CDATA[ERMENEGILDO ZEGNA N V]]>$33.61M
- GLIBK$13.22M
- UNH$488.3K
- TSM$331.0K
- NOW$312.9K
- IDXX$290.7K
and 10 more
Exited
- OTEXwas $160.76M
- KVUEwas $118.30M
- <![CDATA[SAPIENS INTL CORP N V]]>was $19.71M
- EBAYwas $632.9K
- ETwas $299.1K
- FMSwas $278.6K
- HDwas $254.1K
- SYKwas $225.9K
and 4 more
Other quarters
Source: SEC Form 13F-HR, accession 0000813917-25-000007, filed by HARRIS ASSOCIATES L P. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.