Value investor Bill Nygren of Oakmark Funds disclosed a near-total liquidation of his firm's stake in EOG Resources during the second quarter of 2026. According to regulatory filings, Oakmark cut its holdings by over 94%, from 4.13 million shares down to just under 245,000. The sold shares were valued at an estimated $504 million, reducing the energy producer from a notable position to a fractional 0.04% of the fund's reported portfolio.
This trade information was made public in a mid-August 13F filing, which details portfolio holdings as of June 30, 2026, meaning the transactions occurred between April and June. The specific reasons for the significant reduction have not been publicly stated by Nygren or Oakmark. During the same quarter, EOG Resources reported record free cash flow and strong shareholder returns, driven by high production volumes.