HARRIS ASSOCIATES L P
"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.
13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.
We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 51 quarters, returned -0.4% per quarter — versus +2.0% per quarter from simply owning every 13F stock. It beat that baseline in only 35.3% of quarters (excess t = -1.20, not statistically significant). Its filings tell you what it bought — not what you should buy.
Quarterly compounding, invested quarters only · entry after the actual SEC deadline plus a 2-day buffer
Top 20 holdings of 161 · 2026 Q2
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| KDP | $3.0B | | HOLD |
| ABNB | $2.7B | | HOLD |
| CRM | $2.5B | | ADD +8% |
| IQV | $2.4B | | HOLD |
| COF | $2.3B | | ADD +11% |
| GOOGL | $2.2B | | TRIM −25% |
| SCHW | $2.2B | | ADD +11% |
| ICE | $2.2B | | ADD +11% |
| TRGP | $2.1B | | TRIM −9% |
| FCNCA | $1.9B | | TRIM −3% |
| ELV | $1.9B | | ADD +3% |
| DAL | $1.6B | | TRIM −4% |
| COP | $1.6B | | TRIM −13% |
| MRK | $1.6B | | TRIM −2% |
| WTW | $1.5B | | HOLD |
| AIG | $1.5B | | HOLD |
| MRSH | $1.4B | | ADD +68% |
| CTVA | $1.4B | | HOLD |
| SYY | $1.4B | | ADD +48% |
| BAC | $1.3B | | ADD +22% |
QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.
New positions in 2026 Q2
Method & Limitations
Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry is the first trading session after the actual SEC filing deadline plus a 2-day buffer. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.