Bill Nygren

Oakmark Fund·value·Retail & diversified funds

OAKMX

~12% since 1991

Portfolio value

$21.7B

Positions

Top 5 concentration

17%

New buys this quarter

Track record vs S&P 500

$OAKMX · total return since 2003

$10k grew to

$89k

CAGR

10.0%

vs S&P 500

-0.5%/yr

See the full comparison chart

Quarterly activity

What Bill Nygren bought and sold each quarter.

Mar 2026vs Dec 2025

Bought (13)

$NFLXNew buy1.6%$ROPNew buy1.2%$MRSHNew buy1.2%$RJFNew buy1.1%$ADBENew buy1.1%$SYFNew buy0.7%$VSNTNew buy0%$CRMAdded+32.5%$FISVAdded+104.3%$GPNAdded+5.2%$CMCSAAdded+6%$AMZNAdded+13.3%$CDWAdded+6.7%

Sold (18)

$DESold out$APASold out$CESold out$BAXSold out$WBDTrimmed-46.8%$EOGTrimmed-36.6%$MPCTrimmed-30.4%$PSXTrimmed-26.8%$MASTrimmed-26.7%$GMTrimmed-23.1%$COPTrimmed-20.2%$MRKTrimmed-15.3%$TRGPTrimmed-13.2%$CBRETrimmed-13%$WFCTrimmed-12.1%$CTrimmed-7.4%$CHTRTrimmed-7%$GOOGLTrimmed-5.2%

Dec 2025vs Sep 2025

Bought (18)

$CDWNew buy1.2%$COPAdded+16.3%$ABNBAdded+13%$TRGPAdded+55.4%$ICEAdded+13.1%$CRMAdded+8.5%$ELVAdded+13.7%$FCNCAAdded+5.3%$CTVAAdded+98%$ZBHAdded+83.1%$EFXAdded+5.5%$NKEAdded+17.5%$UNPAdded+60.3%$GPNAdded+9%$DEAdded+82.5%$EOGAdded+13.2%$FISVAdded+36.7%$STZAdded+6.6%

Sold (16)

$BNYSold out$APATrimmed-65.3%$GOOGLTrimmed-47%$STTTrimmed-41.2%$WBDTrimmed-38.4%$MPCTrimmed-36%$BACTrimmed-34.4%$GMTrimmed-33.6%$CTrimmed-33.2%$CBRETrimmed-28.8%$AMZNTrimmed-27.6%$SCHWTrimmed-25.1%$CMCSATrimmed-19.5%$WFCTrimmed-19.3%$PSXTrimmed-17.4%$NDAQTrimmed-7%

Sep 2025vs Jun 2025

Bought (17)

$TRGPNew buy1.8%$UNPNew buy1.2%$ABNBAdded+12.1%$EFXAdded+12%$MRKAdded+8.9%$AIGAdded+8.8%$KDPAdded+54.7%$CRMAdded+152.4%$FCNCAAdded+6%$ELVAdded+46.4%$FISVAdded+37.7%$GEHCAdded+13.4%$CMCSAAdded+6.5%$RGAAdded+46.9%$ZBHAdded+20%$STZAdded+11.2%$LBRDKAdded+7.4%

Sold (14)

$CNCSold out$BLKSold out$MG.TOTrimmed-77.8%$BNYTrimmed-32.4%$CBRETrimmed-29.4%$GOOGLTrimmed-28.5%$NDAQTrimmed-21.6%$CTrimmed-16.5%$WBDTrimmed-13.7%$GMTrimmed-9.8%$CTVATrimmed-9%$AMZNTrimmed-8.6%$WFCTrimmed-7.3%$BACTrimmed-5.1%

Jun 2025vs Mar 2025

Bought (22)

$NKENew buy2%$AMZNNew buy1.7%$ZBHNew buy1.1%$CRMNew buy1.1%$ABNBAdded+74.4%$FCNCAAdded+9.5%$EFXAdded+14.4%$KDPAdded+9.8%$MRKAdded+11.8%$FISVAdded+24.8%$MPCAdded+50.8%$DALAdded+27.2%$ELVAdded+6.6%$WBDAdded+14.6%$GPNAdded+17.2%$GEHCAdded+116.4%$CGAdded+38.7%$FBINAdded+10.1%$RGAAdded+11.9%$MASAdded+12.4%$BLKAdded+20%$CEAdded+50%

Sold (17)

$CVSSold out$BWASold out$KRSold out$KVUETrimmed-80.4%$DETrimmed-69.3%$CTVATrimmed-45.6%$BNYTrimmed-36.1%$EOGTrimmed-29.1%$AIGTrimmed-28.6%$GMTrimmed-20.3%$SCHWTrimmed-15.8%$NDAQTrimmed-13.7%$CBRETrimmed-13.2%$ICETrimmed-7.8%$CHTRTrimmed-7%$WFCTrimmed-6.9%$STTTrimmed-5.5%

Mar 2025vs Dec 2024

Bought (20)

$BNYNew buy2.1%$FISVNew buy2.1%$ELVNew buy2%$FBINNew buy1.4%$MPCNew buy1.2%$STZNew buy1.2%$MG.TONew buy0.8%$GOOGLAdded+12.9%$COPAdded+13.9%$PSXAdded+12.3%$ALLYAdded+7.4%$MRKAdded+23.8%$KDPAdded+17.5%$EFXAdded+14%$APAAdded+5.9%$DALAdded+8.5%$ABNBAdded+81.1%$RGAAdded+6.7%$CGAdded+476.1%$GEHCAdded+82%

Sold (15)

$FBHSSold out$ANTMSold out$FISold out$BKSold out$MGASold out$KRTrimmed-29.4%$WFCTrimmed-22.8%$COFTrimmed-17.8%$DETrimmed-17.8%$EOGTrimmed-15.9%$KVUETrimmed-15.5%$CBRETrimmed-12.4%$CTVATrimmed-8.9%$CTrimmed-8.7%$ICETrimmed-7.3%

Dec 2024vs Sep 2024

Bought (16)

$FINew buy2.9%$KDPNew buy1.6%$ANTMNew buy1.3%$ABNBNew buy0.8%$GEHCNew buy0.5%$CGNew buy0.2%$AIGAdded+6.2%$ICEAdded+6.6%$COPAdded+9.6%$IQVAdded+5.4%$PSXAdded+13.9%$GPNAdded+8.4%$MRKAdded+119.5%$EFXAdded+25.6%$GPCAdded+9.2%$CVSAdded+5.3%

Sold (12)

$CRMSold out$EBAYSold out$FISVSold out$GSSold out$MOSold out$TFCSold out$BLKTrimmed-54.5%$WFCTrimmed-26.7%$DALTrimmed-23.7%$CBRETrimmed-19.1%$COFTrimmed-12.8%$CHTRTrimmed-10.6%

Sep 2024vs Jun 2024

Bought (19)

$GPCNew buy1.1%$MRKNew buy1%$DEAdded+6.4%$SCHWAdded+17.2%$AIGAdded+20.2%$CNCAdded+10.4%$GMAdded+6%$COPAdded+6.8%$PSXAdded+17%$STTAdded+6%$KVUEAdded+10.6%$FCNCAAdded+5.4%$DALAdded+7.1%$NDAQAdded+28.6%$FBHSAdded+13.9%$GPNAdded+94.2%$WBDAdded+43.7%$CEAdded+15.9%$CVSAdded+27.3%

Sold (12)

$TELSold out$AXPSold out$WTWSold out$CSCOSold out$MOTrimmed-66.4%$EBAYTrimmed-51.7%$TFCTrimmed-47.1%$GSTrimmed-45.5%$EFXTrimmed-12.2%$CBRETrimmed-10.6%$BACTrimmed-9.4%$RGATrimmed-5.5%

Jun 2024vs Mar 2024

Bought (24)

$NDAQNew buy1.4%$CRBGNew buy1.1%$CAdded+13%$FISVAdded+13.8%$DEAdded+15.1%$IQVAdded+19.8%$CBREAdded+12%$CNCAdded+15.9%$PSXAdded+25.3%$CHTRAdded+23.8%$CRMAdded+89.8%$CTVAAdded+16.2%$APAAdded+9.1%$DALAdded+115.9%$FCNCAAdded+7.9%$KVUEAdded+68.7%$EFXAdded+369.2%$FBHSAdded+23.9%$MGAAdded+5.9%$BAXAdded+10.7%$CEAdded+8.4%$GPNAdded+11.4%$CSCOAdded+9.8%$CVSAdded+8.6%

Sold (10)

$DHRSold out$ORCLSold out$KKRSold out$AXPTrimmed-76.9%$MCOTrimmed-59%$DISTrimmed-47.8%$GSTrimmed-40.4%$WBDTrimmed-31.3%$MASTrimmed-8.5%$GOOGLTrimmed-5.6%

Quarter-over-quarter change in disclosed positions. Diversified book — only the larger sell-outs are shown.

Holdings

Stock	Move	% of portfolio	Reported px	Now	Since report
$TRGP Targa Resources Corp	Trimmed	3.8%	$250.73	$273.02	+8.9%
$COP ConocoPhillips	Trimmed	3.7%	$132.00	$108.02	-18.2%
$ICE Intercontinental Exchange Inc	Held	3.1%	$157.28	$135.11	-14.1%
$MRK Merck & Co Inc	Trimmed	3%	$120.29	$125.07	+4%
$CTVA Corteva Inc	Held	3%	$83.71	$83.86	+0.2%
$ABNB Airbnb Inc	Held	3%	$126.28	$146.89	+16.3%
$CRM Salesforce Inc	Added	2.9%	$186.67	$162.50	-12.9%
$PSX Phillips 66	Trimmed	2.7%	$182.18	$189.82	+4.2%
$KDP Keurig Dr Pepper Inc	Held	2.7%	$26.33	$30.72	+16.7%
$C Citigroup Inc	Trimmed	2.7%	$113.41	$139.56	+23.1%
$DAL Delta Air Lines Inc	Held	2.6%	$66.48	$89.00	+33.9%
$FCNCA First Citizens BancShares Inc/NC	Held	2.6%	$1884.66	$2083.00	+10.5%
$FISV Fiserv Inc	Added	2.5%	$55.80	$51.65	-7.4%
$ALLY Ally Financial Inc	Held	2.5%	$39.23	$45.11	+15%
$SCHW Charles Schwab Corp/The	Held	2.5%	$93.98	$101.91	+8.4%
$ZBH Zimmer Biomet Holdings Inc	Held	2.5%	$90.42	$89.23	-1.3%
$ELV Elevance Health Inc	Held	2.5%	$292.75	$420.39	+43.6%
$AIG American International Group Inc	Held	2.4%	$75.25	$79.11	+5.1%
$GOOGL Alphabet Inc	Trimmed	2.4%	$287.56	$358.89	+24.8%
$COF Capital One Financial Corp	Held	2.3%	$182.43	$200.10	+9.7%
$IQV IQVIA Holdings Inc	Held	2.1%	$170.54	$208.97	+22.5%
$UNP Union Pacific Corp	Held	2%	$242.62	$285.04	+17.5%
$GEHC GE HealthCare Technologies Inc	Held	2%	$71.18	$64.70	-9.1%
$EFX Equifax Inc	Held	2%	$180.07	$166.66	-7.4%
$RGA Reinsurance Group of America Inc	Held	1.9%	$204.16	$230.49	+12.9%
$GM General Motors Co	Trimmed	1.8%	$74.50	$76.65	+2.9%
$GPN Global Payments Inc	Added	1.8%	$67.30	$74.38	+10.5%
$NKE NIKE Inc	Held	1.7%	$52.82	$42.78	-19%
$STT State Street Corp	Held	1.6%	$126.56	$180.16	+42.4%
$NFLX Netflix Inc	New buy	1.6%	$96.15	$75.47	-21.5%
$BAC Bank of America Corp	Held	1.6%	$48.75	$59.25	+21.5%
$CG Carlyle Group Inc/The	Held	1.5%	$48.39	$44.18	-8.7%
$NDAQ Nasdaq Inc	Held	1.5%	$84.89	$87.52	+3.1%
$CMCSA Comcast Corp	Added	1.4%	$28.71	$23.35	-18.7%
$WFC Wells Fargo & Co	Trimmed	1.3%	$79.61	$86.91	+9.2%
$WBD Warner Bros Discovery Inc	Trimmed	1.3%	$27.46	$26.63	-3%
$MPC Marathon Petroleum Corp	Trimmed	1.3%	$244.18	$283.30	+16%
$EOG EOG Resources Inc	Trimmed	1.3%	$144.57	$133.54	-7.6%
$AMZN Amazon.com Inc	Added	1.3%	$208.27	$247.04	+18.6%
$CHTR Charter Communications Inc	Trimmed	1.2%	$215.88	$134.35	-37.8%
$ROP Roper Technologies Inc	New buy	1.2%	$353.86	$355.94	+0.6%
$MRSH Marsh & McLennan Cos Inc	New buy	1.2%	$173.45	$179.00	+3.2%
$CDW CDW Corp/DE	Added	1.1%	$121.02	$140.21	+15.9%
$RJF Raymond James Financial Inc	New buy	1.1%	$144.79	$168.72	+16.5%
$STZ Constellation Brands Inc	Held	1.1%	$150.00	$132.44	-11.7%
$ADBE Adobe Inc	New buy	1.1%	$243.08	$222.65	-8.4%
$FBIN Fortune Brands Innovations Inc	Held	1%	$38.97	$49.52	+27.1%
$MAS Masco Corp	Trimmed	0.9%	$60.37	$76.64	+27%
$GPC Genuine Parts Co	Held	0.9%	$105.75	$124.27	+17.5%
$CRBG Corebridge Financial Inc	Held	0.9%	$23.86	$30.30	+27%

Showing top 50 of 54 equity positions (this fund runs a diversified book).

Notable sell-outs this quarter: $DE, $APA, $CE, $BAX

Source: SEC N-PORT via FMP · Mar 2026 report · monthly portfolio, public with a delay. Long equity positions only. Not financial advice.