Harris Associates (Oakmark) 13F, Q4 2025
Bill Nygren · quarter ending 31 December 2025 · filed 17 February 2026 · SEC CIK 813917
Common stock only: shares the fund reported owning at the quarter end, valued as filed. The filing also lists 1 put and call lines, reported at the value of the underlying shares; they are not ownership and are not in these totals.
Largest positions, Q4 2025
The 25 largest of 167 positions. Weights are against the whole filed book. Changes are in shares held, against the Q3 2025 filing.
| Company | Ticker | Value | % of book | vs Q3 2025 |
|---|---|---|---|---|
| <![CDATA[ALPHABET INC]]> | GOOGL | $2.79B | 3.5% | -22% shares |
| <![CDATA[CAPITAL ONE FINL CORP]]> | COF | $2.62B | 3.3% | +20% shares |
| <![CDATA[SALESFORCE INC]]> | CRM | $2.59B | 3.3% | +39% shares |
| <![CDATA[IQVIA HLDGS INC]]> | IQV | $2.55B | 3.2% | unchanged |
| <![CDATA[AIRBNB INC]]> | ABNB | $2.54B | 3.2% | +21% shares |
| <![CDATA[INTERCONTINENTAL EXCHANGE IN]]> | ICE | $2.52B | 3.2% | +53% shares |
| <![CDATA[KEURIG DR PEPPER INC]]> | KDP | $2.42B | 3.1% | +38% shares |
| <![CDATA[WARNER BROS DISCOVERY INC]]> | WBD | $2.27B | 2.9% | -18% shares |
| <![CDATA[CONOCOPHILLIPS]]> | COP | $2.25B | 2.9% | +27% shares |
| <![CDATA[SCHWAB CHARLES CORP]]> | SCHW | $2.20B | 2.8% | +4% shares |
| <![CDATA[FIRST CTZNS BANCSHARES INC D]]> | FCNCA | $1.99B | 2.5% | +26% shares |
| <![CDATA[AMERICAN INTL GROUP INC]]> | AIG | $1.89B | 2.4% | +25% shares |
| <![CDATA[WILLIS TOWERS WATSON PLC LTD]]> | $1.84B | 2.3% | +31% shares | |
| <![CDATA[PHILLIPS 66]]> | PSX | $1.80B | 2.3% | +3% shares |
| <![CDATA[TARGA RES CORP]]> | TRGP | $1.80B | 2.3% | +134% shares |
| <![CDATA[ELEVANCE HEALTH INC FORMERLY]]> | ELV | $1.68B | 2.1% | +50% shares |
| <![CDATA[EQUIFAX INC]]> | EFX | $1.64B | 2.1% | +30% shares |
| <![CDATA[MERCK & CO INC]]> | MRK | $1.48B | 1.9% | +43% shares |
| <![CDATA[DEERE & CO]]> | DE | $1.46B | 1.9% | +45% shares |
| <![CDATA[GENERAL MTRS CO]]> | GM | $1.42B | 1.8% | -17% shares |
| <![CDATA[DELTA AIR LINES INC DEL]]> | DAL | $1.36B | 1.7% | +45% shares |
| <![CDATA[GE HEALTHCARE TECHNOLOGIES I]]> | GEHC | $1.30B | 1.6% | +44% shares |
| <![CDATA[ALLY FINL INC]]> | ALLY | $1.22B | 1.6% | unchanged |
| <![CDATA[WELLS FARGO CO NEW]]> | WFC | $1.20B | 1.5% | +20% shares |
| <![CDATA[CITIGROUP INC]]> | C | $1.17B | 1.5% | -27% shares |
What changed since Q3 2025
Against the Q3 2025 filing, Harris Associates (Oakmark) opened 10 new positions, added to 54, trimmed 61, left 42 unchanged and exited 20. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
- <![CDATA[AERCAP HOLDINGS NV]]>$839.63M
- <![CDATA[AMRIZE LTD]]>$615.41M
- AZNN$342.87M
- IT$243.19M
- <![CDATA[CUSHMAN AND WAKEFIELD LTD]]>$32.12M
- OMC$4.95M
- BX$578.0K
- PANW$486.3K
and 2 more
Exited
- ACVAwas $37.71M
- <![CDATA[CUSHMAN WAKEFIELD PLC]]>was $36.78M
- <![CDATA[INTERPUBLIC GROUP COS INC]]>was $13.79M
- GLIBKwas $13.22M
- CFGwas $834.7K
- TSMwas $331.0K
- CRIwas $330.2K
- NOWwas $312.9K
and 12 more
Other quarters
Source: SEC Form 13F-HR, accession 0000813917-26-000022, 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.