Value investor Bill Nygren's Oakmark Funds significantly reduced its position in Marathon Petroleum (MPC) during the second quarter of 2026. According to a recent 13F filing, which discloses trades made through June 30, Oakmark sold over 2.5 million shares, cutting its holding by nearly 92%. The fund's remaining stake is now just 229,011 shares.
This trade reduced Marathon Petroleum's weight in the Oakmark portfolio from 0.91% to a mere 0.08%. While the specific reasons for this substantial sell-off have not been publicly disclosed by Nygren or the fund, the move represents a notable shift away from the energy company. Investors often monitor the actions of prominent managers like Nygren for insights into their long-term value assessments.