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 |
Merck
MRK
|
+$350M |
| 2 |
SCHW
Charles Schwab
SCHW
|
+$348M |
| 3 |
Genuine Parts
GPC
|
+$323M |
| 4 |
Global Payments
GPN
|
+$223M |
| 5 |
Deere & Co
DE
|
+$183M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Blackrock
BLK
|
+$572M |
| 2 |
Cisco
CSCO
|
+$496M |
| 3 |
Charter Communications
CHTR
|
+$406M |
| 4 |
Altria Group
MO
|
+$381M |
| 5 |
Intercontinental Exchange
ICE
|
+$252M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 24.2% |
| 2 | Communication Services | 10.39% |
| 3 | Industrials | 9.21% |
| 4 | Healthcare | 8.07% |
| 5 | Technology | 7.57% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Warner Bros
WBD
$71.6B
| $787M | 1.03% |
95,450,949
-9,079,698
| -9% | -$71M |
|
27
Ally Financial
ALLY
$13.1B
| $774M | 1.01% |
21,749,632
+1,099,204
| +5% | +$44M |
|
28
Kenvue
KVUE
$36.6B
| $728M | 0.95% |
31,459,511
+2,186,114
| +7% | +$45.3M |
|
|
BNY
29
Bank of New York Mellon
BNY
$108B
| $689M | 0.9% |
9,581,606
-199,464
| -2% | -$13.1M |
|
30
Amazon
AMZN
$2.79T
| $687M | 0.9% |
3,687,279
-463,223
| -11% | -$84.5M |
|
31
Paycom
PAYC
$10.3B
| $675M | 0.88% |
4,051,001
+23,818
| +0.6% | +$3.81M |
|
32
State Street
STT
$51.4B
| $656M | 0.86% |
7,415,582
+191,581
| +3% | +$15.8M |
|
33
Lithia Motors
LAD
$8.15B
| $648M | 0.85% |
2,041,393
+24,026
| +1% | +$6.7M |
|
34
Delta Air Lines
DAL
$54.2B
| $641M | 0.84% |
12,623,907
+910,362
| +8% | +$39.7M |
|
35
Nasdaq
NDAQ
$54.9B
| $628M | 0.82% |
8,596,022
+1,096,090
| +15% | +$74.8M |
|
36
Corebridge Financial
CRBG
$14.2B
| $615M | 0.8% |
21,081,596
-2,287,531
| -10% | -$64.7M |
|
37
APA Corp
APA
$15.2B
| $609M | 0.8% |
24,914,700
+4,293,932
| +21% | +$121M |
|
38
Masco
MAS
$14.5B
| $555M | 0.72% |
6,617,159
-380,503
| -5% | -$28.8M |
|
39
Fortune Brands Innovations
FBIN
$5.32B
| $542M | 0.71% |
6,048,720
+363,812
| +6% | +$27.9M |
|
40
Equifax
EFX
$22.6B
| $535M | 0.7% |
1,820,948
-469,272
| -20% | -$132M |
|
|
LBRDK
41
DELISTED
Liberty Broadband Class C
LBRDK
| $522M | 0.68% |
6,750,174
+46,084
| +0.7% | +$2.85M |
|
|
42
Global Payments
GPN
$24.7B
| $515M | 0.67% |
5,026,407
+2,146,485
| +75% | +$223M |
|
43
TE Connectivity
TEL
$58.9B
| $506M | 0.66% |
3,348,554
-651,910
| -16% | -$97.6M |
|
44
Ryanair
RYAAY
$28.9B
| $464M | 0.61% |
10,265,761
-1,154,292
| -10% | -$50.2M |
|
|
IPG
45
DELISTED
Interpublic Group of Companies
IPG
| $457M | 0.6% |
14,434,712
-1,344,425
| -9% | -$41.2M |
|
46
Reinsurance Group of America
RGA
$15.9B
| $450M | 0.59% |
2,065,930
-153,945
| -7% | -$32.7M |
|
47
BorgWarner
BWA
$13.8B
| $430M | 0.56% |
11,839,353
+1,216,118
| +11% | +$40.1M |
|
48
Open Text
OTEX
$5.97B
| $426M | 0.56% |
12,804,392
-85,350
| -0.7% | -$2.69M |
|
49
Baxter International
BAX
$13.6B
| $371M | 0.48% |
9,776,407
-552,527
| -5% | -$20.3M |
|
50
CVS Health
CVS
$119B
| $362M | 0.47% |
5,762,222
+1,033,819
| +22% | +$60.3M |
|
Similar funds
Bill Nygren's Q3 2024 Portfolio in Review
As of Q3 2024, Bill Nygren held 151 positions worth $76.6B, up 30% from $59.1B the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Bill Nygren withdrew a net $2.42B in Q3 2024, closing 5 positions and reducing 76 holdings. Its most notable exit was Blackrock, an estimated $572M position sold in full.
By sector, the portfolio is most concentrated in Financials at 24% of assets, down from 32% a quarter earlier, followed by Communication Services and Industrials.
Against the trend, Bill Nygren opened a new position in Merck worth $334M.
- Bill Nygren's largest Q3 2024 buy was Merck: 2,943,021 shares worth $334M.
- Bill Nygren added most to Charles Schwab in Q3 2024, an estimated $348M increase.
- Bill Nygren's biggest Q3 2024 reduction was Charter Communications, cutting an estimated $406M.
- Bill Nygren fully exited Blackrock in Q3 2024, selling an estimated $572M.
- Bill Nygren's ten largest holdings make up 46% of its $76.6B portfolio in Q3 2024.
- Bill Nygren opened 18 new positions and closed 5 in Q3 2024.
- Bill Nygren's portfolio value rose 30% quarter-over-quarter to $76.6B.
Based on Harris Associates's 13F filing for Q3 2024, filed 14 Nov 2024.