Bill Nygren Harris Associates
Bill Nygren is a portfolio manager at Harris Associates and a long-time lead voice behind the Oakmark family of funds. He is known for a value philosophy that seeks growing businesses at discounts to intrinsic value rather than statistically cheap “cigar butts” alone. Nygren’s shareholder letters are popular for clear explanations of valuation, portfolio changes, and long-term equity ownership.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$1.42B |
| 2 |
FISV
Fiserv Inc
FISV
|
+$445M |
| 3 |
Netflix
NFLX
|
+$235M |
| 4 |
Regeneron Pharmaceuticals
REGN
|
+$208M |
| 5 |
Alibaba
BABA
|
+$199M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$1.41B |
| 2 |
MGM Resorts International
MGM
|
+$573M |
| 3 |
Caterpillar
CAT
|
+$373M |
| 4 |
CNH
CNH Industrial
CNH
|
+$250M |
| 5 |
Cenovus Energy
CVE
|
+$206M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 24.07% |
| 2 | Communication Services | 22.9% |
| 3 | Consumer Discretionary | 12.16% |
| 4 | Industrials | 10.01% |
| 5 | Technology | 9.55% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
26
Regeneron Pharmaceuticals
REGN
$85.9B
| $807M | 1.29% |
1,445,053
+411,475
| +40% | +$208M |
|
27
EOG Resources
EOG
$80.3B
| $794M | 1.27% |
9,519,995
-8,385
| -0.1% | -$663K |
|
28
CVS Health
CVS
$119B
| $713M | 1.14% |
8,550,865
-3,384
| -0% | -$277K |
|
|
29
Alibaba
BABA
$286B
| $706M | 1.12% |
3,113,295
+896,930
| +40% | +$199M |
|
30
General Dynamics
GD
$104B
| $689M | 1.1% |
3,658,602
+60,438
| +2% | +$11.4M |
|
31
Workday
WDAY
$49.4B
| $623M | 0.99% |
2,608,093
+289,578
| +12% | +$69.6M |
|
32
Ryanair
RYAAY
$28.9B
| $612M | 0.97% |
14,139,768
-187,330
| -1% | -$8.46M |
|
33
Wells Fargo
WFC
$254B
| $600M | 0.95% |
13,237,307
+498,857
| +4% | +$22.3M |
|
34
Lear
LEA
$8.56B
| $588M | 0.94% |
3,351,925
-51,459
| -2% | -$9.52M |
|
35
Oracle
ORCL
$422B
| $576M | 0.92% |
7,399,096
-200,898
| -3% | -$15.7M |
|
36
GE Aerospace
GE
$361B
| $567M | 0.9% |
8,457,397
-1,685
| -0% | -$112K |
|
37
Automatic Data Processing
ADP
$112B
| $563M | 0.9% |
2,832,997
-85,201
| -3% | -$16.6M |
|
38
Open Text
OTEX
$5.97B
| $549M | 0.88% |
10,822,227
+78,912
| +0.7% | +$3.82M |
|
|
39
Cenovus Energy
CVE
$60.7B
| $522M | 0.83% |
54,531,807
-24,327,900
| -31% | -$206M |
|
40
Visa
V
$693B
| $507M | 0.81% |
2,167,652
-7,229
| -0.3% | -$1.65M |
|
41
Goldman Sachs
GS
$303B
| $503M | 0.8% |
1,324,028
-3,360
| -0.3% | -$1.2M |
|
42
Moody's
MCO
$87.2B
| $465M | 0.74% |
1,283,322
-242,216
| -16% | -$80.6M |
|
43
Reinsurance Group of America
RGA
$15.9B
| $452M | 0.72% |
3,961,224
+37,288
| +1% | +$4.7M |
|
44
APA Corp
APA
$15.2B
| $449M | 0.72% |
20,772,857
+1,803
| +0% | +$37K |
|
45
Mastercard
MA
$509B
| $441M | 0.7% |
1,206,782
-360,855
| -23% | -$134M |
|
46
Tenet Healthcare
THC
$22.6B
| $435M | 0.69% |
6,491,926
+150,330
| +2% | +$9.32M |
|
47
DXC Technology
DXC
$1.73B
| $424M | 0.68% |
10,900,045
+91,666
| +0.8% | +$3.27M |
|
48
Gartner
IT
$12.4B
| $422M | 0.67% |
1,742,815
-1,822
| -0.1% | -$399K |
|
49
eBay
EBAY
$46.3B
| $419M | 0.67% |
5,969,224
+1,488,472
| +33% | +$93.3M |
|
|
IPG
50
DELISTED
Interpublic Group of Companies
IPG
| $413M | 0.66% |
12,699,992
-667,124
| -5% | -$21.3M |
|
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Bill Nygren's Q2 2021 Portfolio in Review
As of Q2 2021, Bill Nygren held 140 positions worth $62.8B, up 7.3% from $58.5B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Bill Nygren's Q2 2021 filing shows 3 new, 51 increased, 73 reduced and 4 closed positions. Its largest new stake was Intercontinental Exchange: 1,330,627 shares worth $158M. The largest sale was Alphabet (Google) Class C, an estimated $1.41B.
By sector, the portfolio is most concentrated in Financials at 24% of assets, down from 24% a quarter earlier, followed by Communication Services and Consumer Discretionary.
- Bill Nygren's largest Q2 2021 buy was Intercontinental Exchange: 1,330,627 shares worth $158M.
- Bill Nygren added most to Alphabet (Google) Class A in Q2 2021, an estimated $1.42B increase.
- Bill Nygren's biggest Q2 2021 reduction was Alphabet (Google) Class C, cutting an estimated $1.41B.
- Bill Nygren fully exited Armstrong World Industries in Q2 2021, selling an estimated $788K.
- Bill Nygren's ten largest holdings make up 36% of its $62.8B portfolio in Q2 2021.
- Bill Nygren opened 3 new positions and closed 4 in Q2 2021.
- Bill Nygren's portfolio value rose 7.3% quarter-over-quarter to $62.8B.
Based on Harris Associates's 13F filing for Q2 2021, filed 16 Aug 2021.