This article first appeared on GuruFocus.
Bill Nygren (Trades, Portfolio) recently submitted the N-PORT filing for the second quarter of 2025, providing insights into his investment moves during this period. Bill Nygren (Trades, Portfolio) is the Portfolio Manager of The Oakmark Fund, The Oakmark Select Fund, and the Oakmark Global Select Fund. With an M.S. in Finance from the University of Wisconsin-Madison and a B.S. in Accounting from the University of Minnesota, Nygren is a seasoned value investor. He and his partners focus on companies trading at a substantial discount to their perceived true business value, believing that stock prices will eventually reflect the underlying company’s value. Their investment strategy emphasizes stock price discounts, free cash flows, intelligent cash investment, and high manager ownership, viewing each purchase as acquiring a piece of a business rather than just a stock certificate.
Bill Nygren (Trades, Portfolio) added a total of four stocks to his portfolio, with the most significant addition being Nike Inc (NYSE:NKE). This purchase involved 6,235,000 shares, accounting for 1.94% of the portfolio and valued at $442.93 million. The second largest addition was Amazon.com Inc (NASDAQ:AMZN), with 1,745,000 shares, representing approximately 1.68% of the portfolio and valued at $382.84 million. The third largest addition was Salesforce Inc (NYSE:CRM), with 920,000 shares, accounting for 1.1% of the portfolio and valued at $250.87 million.
Bill Nygren (Trades, Portfolio) also increased stakes in a total of 29 stocks. The most notable increase was in Airbnb Inc (NASDAQ:ABNB), with an additional 1,742,000 shares, bringing the total to 4,082,000 shares. This adjustment represents a significant 74.44% increase in share count, impacting the portfolio by 1.01%, with a total value of $540.21 million. The second largest increase was in GE HealthCare Technologies Inc (NASDAQ:GEHC), with an additional 2,833,485 shares, bringing the total to 5,268,000. This adjustment represents a significant 116.39% increase in share count, with a total value of $390.20 million.
Bill Nygren (Trades, Portfolio) completely exited three holdings in the second quarter of 2025. The most impactful was The Kroger Co (NYSE:KR), where he sold all 6,800,000 shares, resulting in a -2.06% impact on the portfolio. Additionally, he liquidated all 3,950,000 shares of CVS Health Corp (NYSE:CVS), causing a -1.2% impact on the portfolio.
