Bill Nygren · quarter digest
What Bill Nygren did in Q3 2025
Oakmark Funds filed 48 moves in Q3 2025: 7 new, 14 add, 26 trim, 1 exit.
13F filed 2025-11-14. Manager quality score: q7. Philosophy: Concentrated value. Buy good businesses at a discount to intrinsic value.
New positions · 7
Fresh money
Adds · 14
Adding to conviction
ADD +15%·4.0% book·−7
“More Citigroup on turnaround.”
ADD +10%·3.6% book·0
“Netflix profitability story.”
ABNB
ADD +9%·3.0% book·+1
CRM
ADD +135%·2.7% book·−9
KEYS
ADD +33%·2.6% book·+3
ADD +27%·1.4% book·−11
MRK
ADD +8%·1.3% book·0
ZM
ADD +27%·0.8% book·−3
STZ
ADD +17%·0.4% book·+2
DHR
ADD +7%·0.0% book·−13
ADD +8%·0.0% book·−4
ADD +16%·0.0% book·+2
PG
ADD +10%·0.0% book·−10
WDAY
ADD +8%·0.0% book·−19
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Trims · 26
Taking chips off
TRIM -28%·4.4% book·−22
TRIM -8%·3.3% book·+26
TRIM -10%·3.1% book·−13
TRIM -8%·2.2% book·+3
GM
TRIM -17%·2.1% book·−11
TRIM -7%·1.5% book·−13
TRIM -13%·0.5% book·−13
CNC
TRIM -55%·0.5% book·−4
ORCL
TRIM -22%·0.4% book·−13
HCA
TRIM -8%·0.2% book·−8
TRIM -35%·0.1% book·+3
TRIM -15%·0.1% book·−10
AMD
TRIM -18%·0.0% book·−6
TRIM -16%·0.0% book·+16
TRIM -34%·0.0% book·−2
DEO
TRIM -57%·0.0% book·−10
XOM
TRIM -73%·0.0% book·−4
GS
TRIM -44%·0.0% book·−6
TRIM -53%·0.0% book·−3
IVV
TRIM -18%·0.0% book·0
KR
TRIM -27%·0.0% book·−12
TRIM -11%·0.0% book·+9
TRIM -10%·0.0% book·+16
PEP
TRIM -15%·0.0% book·−7
SPG
TRIM -13%·0.0% book·+2
VTI
TRIM -61%·0.0% book·0
Exits · 1
Closed positions
INTU
EXIT·0.0% book·−16
Current top holdings
Bill Nygren’s book, latest snapshot
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Not investment advice. Data from 13F filings with HoldLens parsing. Methodology.