Bill Nygren: Top 5 Positions Make Up 31% Of His Portfolio (Analysis)
Sunday, June 22, 2025 · Johnny Hopkins
Bill Nygren’s top 5 positions make up 31.01% of his current portfolio, reflecting a diversified yet focused strategy. His largest position, IQVIA Holdings Inc (IQV), accounts for 7.03%. Below is a breakdown of each top position, including shares held, value, portfolio weight, and analysis.
IQVIA Holdings Inc (IQV)
Shares: 2,636,400
Value: $464.80M
Portfolio %: 7.03%
Change in Shares: 0
% Change in Shares: 0.00%
Analysis: Nygren’s conviction in IQVIA reflects a strong belief in the long-term growth of data analytics and clinical research outsourcing. The position’s size suggests confidence in the company’s moat and role in a data-driven healthcare future.
Alphabet Inc (GOOGL)
Shares: 2,839,420
Value: $439.09M
Portfolio %: 6.64%
Change in Shares: +122,000
% Change in Shares: +4.49%
Analysis: A modest increase in Alphabet hints at continued optimism in digital advertising and AI leadership. Nygren appears to view Alphabet’s core businesses as resilient and its valuation as still attractive.
First Citizens BancShares (FCNCA)
Shares: 228,643
Value: $423.93M
Portfolio %: 6.41%
Change in Shares: +4,400
% Change in Shares: +1.96%
Analysis: This regional bank position reflects Nygren’s contrarian approach—betting on strong capital allocation in a consolidating banking sector. The increase suggests growing confidence post-SVB crisis.
Deere & Co (DE)
Shares: 842,700
Value: $395.52M
Portfolio %: 5.98%
Change in Shares: -200,300
% Change in Shares: -19.20%
Analysis: A sizable trim in Deere could be profit-taking after a strong run. Still, Nygren maintains a meaningful stake, likely drawn to its dominance in precision agriculture and strong cash flows.
Phillips 66 (PSX)
Shares: 3,187,000
Value: $393.53M
Portfolio %: 5.95%
Change in Shares: +610,000
% Change in Shares: +23.67%
Analysis: The largest percentage increase in Nygren’s top 5, PSX represents a renewed focus on energy value plays. The move may reflect expectations of continued demand strength and favorable refining margins.