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 32 quarters, returned +0.5% per quarter — versus +2.7% per quarter from simply owning every 13F stock. It beat that baseline in only 37.5% of quarters (excess t = -0.29, not statistically significant). Its filings tell you what it bought — not what you should buy.
Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)
Top 20 holdings of 156 · 2026 Q1
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| CRM | $2.8B | | ADD |
| ICE | $2.6B | | ADD |
| KDP | $2.5B | | ADD |
| ABNB | $2.4B | | ADD |
| GOOGL | $2.4B | | TRIM |
| COP | $2.3B | | TRIM |
| TRGP | $2.2B | | TRIM |
| IQV | $2.1B | | ADD |
| SCHW | $2.0B | | HOLD |
| COF | $1.9B | | TRIM |
| FCNCA | $1.8B | | ADD |
| WTW | $1.7B | | ADD |
| PSX | $1.7B | | TRIM |
| AIG | $1.5B | | TRIM |
| MRK | $1.5B | | TRIM |
| ELV | $1.4B | | HOLD |
| CTVA | $1.4B | | TRIM |
| EFX | $1.4B | | HOLD |
| DAL | $1.2B | | TRIM |
| ZBH | $1.2B | | ADD |
QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.
New positions in 2026 Q1
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 47 days after quarter-end — the first day the public could act on the filing. 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.