The leading value investor behind the Oakmark funds, with more than 40 years at Chicago's Harris Associates.
Life story
Bill Nygren (William C. Nygren) earned a B.S. in accounting from the University of Minnesota in 1980 and an M.S. in finance from the University of Wisconsin's Applied Security Analysis Program in 1981. Little is publicly known about his birthplace, childhood or family.
Harris Associates, which runs the Oakmark funds, was founded in Chicago in 1976 by a group of investors led by Victor Morgenstern who had worked in the private investment office of Chicago entrepreneur Irving Harris. Today it is owned by France's Natixis Investment Managers but makes its investment decisions independently.
How they got started
Nygren started as an investment analyst at Northwestern Mutual Life. He joined Harris Associates as an analyst in 1983 and was its director of U.S. research from 1990 to 1998.
He has managed the concentrated Oakmark Select Fund since 1996 and the flagship Oakmark Fund since 2000, and ran Oakmark Global Select from 2006 to 2023. Morningstar named him Domestic Stock Manager of the Year for 2001. Today he is a partner and Co-CIO for U.S. equities at Harris | Oakmark.
Investment style
Oakmark's philosophy rests on three pillars: buying at a substantial discount to intrinsic value (a "margin of safety"), owning businesses whose per-share value should grow over time, and backing managements that think and act like owners. The firm waits patiently for the market to recognize value — as long-term owners, not traders.
Nygren does not see growth and value as opposites and often buys large companies the market has temporarily fallen out of love with. Oakmark Select is the most concentrated fund he runs.
Best decisions
Morningstar award (2001)
Morningstar named Nygren Domestic Stock Manager of the Year for 2001 — an award for exceptional returns, alignment with shareholders and the courage to stick with a strategy.
Biggest mistakes
Washington Mutual (2007–2008)
Nygren made Washington Mutual a huge position in Oakmark Select (13% of the roughly 20-stock fund in late 2007). The bank failed in the mortgage crisis and was largely acquired by JPMorgan Chase, dragging the fund's returns sharply lower. At the time the fund was also betting on financials, homebuilders and retailers — sectors that kept deteriorating through the crisis.
Today
In 2026 Nygren still manages the Oakmark Fund and Oakmark Select, and since 2024 the Oakmark U.S. Large Cap ETF. Harris Associates managed about $96 billion in mid-2025.
What to learn from following the portfolio
- The 13F on this page covers all of Harris Associates/Oakmark — not only Nygren, but also other managers and the U.S. stocks of international strategies.
- Oakmark buys large companies the market dislikes: a new position often points to a temporarily out-of-favor sector and requires patience.
- The WaMu episode shows cheap-looking banks can still fail. Value funds often hold banks and financials, which are usually not halal — check each position's halal status in the Portfolio tab.
- 13F data lags up to 45 days and shows only long U.S. stocks.
An introduction based on public sources — not investment advice. Spotted an error? Let us know.