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 |
Phillips 66
PSX
|
+$597M |
| 2 |
Centene
CNC
|
+$496M |
| 3 |
CNH
CNH Industrial
CNH
|
+$418M |
| 4 |
IQVIA
IQV
|
+$379M |
| 5 |
American Express
AXP
|
+$336M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Parker-Hannifin
PH
|
+$436M |
| 2 |
KKR & Co
KKR
|
+$417M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$373M |
| 4 |
Amazon
AMZN
|
+$367M |
| 5 |
Oracle
ORCL
|
+$306M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 34.19% |
| 2 | Communication Services | 15.33% |
| 3 | Consumer Discretionary | 9.92% |
| 4 | Healthcare | 9.75% |
| 5 | Technology | 9.7% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
26
Centene
CNC
$32.1B
| $806M | 1.39% |
10,863,367
+6,881,450
| +173% | +$496M |
|
27
First Citizens BancShares
FCNCA
$24.7B
| $711M | 1.22% |
500,868
+6,842
| +1% | +$9.61M |
|
28
Ryanair
RYAAY
$28.9B
| $688M | 1.19% |
12,899,480
-5,216,700
| -29% | -$229M |
|
29
Danaher
DHR
$154B
| $687M | 1.18% |
2,967,928
-375,350
| -11% | -$79.9M |
|
30
Lithia Motors
LAD
$8.15B
| $667M | 1.15% |
2,024,707
+377,256
| +23% | +$104M |
|
31
TE Connectivity
TEL
$58.9B
| $655M | 1.13% |
4,663,085
-267,876
| -5% | -$34.5M |
|
32
Masco
MAS
$14.5B
| $654M | 1.13% |
9,769,194
+140,334
| +1% | +$8.15M |
|
33
Blackrock
BLK
$179B
| $643M | 1.11% |
791,498
+227,859
| +40% | +$159M |
|
34
HCA Healthcare
HCA
$92.9B
| $600M | 1.03% |
2,218,381
+234,036
| +12% | +$57.8M |
|
|
35
Oracle
ORCL
$422B
| $588M | 1.01% |
5,578,179
-2,799,853
| -33% | -$306M |
|
36
APA Corp
APA
$15.2B
| $564M | 0.97% |
15,705,693
+2,367,570
| +18% | +$89.4M |
|
|
IPG
37
DELISTED
Interpublic Group of Companies
IPG
| $563M | 0.97% |
17,252,532
+592,438
| +4% | +$17.8M |
|
38
Cisco
CSCO
$438B
| $553M | 0.95% |
10,953,280
+7,990
| +0.1% | +$408K |
|
39
Citigroup
C
$221B
| $545M | 0.94% |
10,590,374
-560,107
| -5% | -$24.8M |
|
40
State Street
STT
$51.4B
| $499M | 0.86% |
6,445,121
-113,171
| -2% | -$7.89M |
|
|
LBRDK
41
DELISTED
Liberty Broadband Class C
LBRDK
| $497M | 0.86% |
6,162,870
-563,085
| -8% | -$47.3M |
|
42
Open Text
OTEX
$5.97B
| $468M | 0.81% |
11,141,307
-374,500
| -3% | -$14.1M |
|
|
BNY
43
Bank of New York Mellon
BNY
$108B
| $457M | 0.79% |
8,777,364
+407,744
| +5% | +$18.8M |
|
44
Goldman Sachs
GS
$303B
| $455M | 0.78% |
1,178,672
-120,127
| -9% | -$40.1M |
|
45
Corteva
CTVA
$54.6B
| $432M | 0.74% |
9,011,702
+4,194,981
| +87% | +$200M |
|
46
Altria Group
MO
$110B
| $409M | 0.7% |
10,140,660
+520,678
| +5% | +$21.5M |
|
47
Hilton Worldwide
HLT
$73.5B
| $408M | 0.7% |
2,239,132
-677,922
| -23% | -$111M |
|
48
BorgWarner
BWA
$13.8B
| $393M | 0.68% |
10,962,891
+900,228
| +9% | +$32.1M |
|
49
Truist Financial
TFC
$61.6B
| $382M | 0.66% |
10,339,874
-374,621
| -3% | -$11.8M |
|
50
Fortune Brands Innovations
FBIN
$5.32B
| $371M | 0.64% |
4,871,805
+93,522
| +2% | +$6.16M |
|
Similar funds
Bill Nygren's Q4 2023 Portfolio in Review
As of Q4 2023, Bill Nygren held 148 positions worth $58B, up 13% from $51.4B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Bill Nygren's Q4 2023 filing shows 14 new, 45 increased, 73 reduced and 5 closed positions. Its largest new stake was Agilent Technologies: 2,342,383 shares worth $326M. The largest sale was Parker-Hannifin, an estimated $436M.
By sector, the portfolio is most concentrated in Financials at 34% of assets, up from 32% a quarter earlier, followed by Communication Services and Consumer Discretionary.
- Bill Nygren's largest Q4 2023 buy was Agilent Technologies: 2,342,383 shares worth $326M.
- Bill Nygren added most to Phillips 66 in Q4 2023, an estimated $597M increase.
- Bill Nygren's biggest Q4 2023 reduction was Parker-Hannifin, cutting an estimated $436M.
- Bill Nygren fully exited Pultegroup in Q4 2023, selling an estimated $145M.
- Bill Nygren's ten largest holdings make up 36% of its $58B portfolio in Q4 2023.
- Bill Nygren opened 14 new positions and closed 5 in Q4 2023.
- Bill Nygren's portfolio value rose 13% quarter-over-quarter to $58B.
Based on Harris Associates's 13F filing for Q4 2023, filed 14 Feb 2024.