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 |
APA Corp
APA
|
+$643M |
| 2 |
CHK
Chesapeake Energy Corporation
CHK
|
+$597M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$362M |
| 4 |
Melco Resorts & Entertainment
MLCO
|
+$283M |
| 5 |
GE Aerospace
GE
|
+$277M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Oracle
ORCL
|
+$798M |
| 2 |
FedEx
FDX
|
+$512M |
| 3 |
General Dynamics
GD
|
+$352M |
| 4 |
TRW
TRW AUTOMOTIVE HOLDINGS CORP
TRW
|
+$318M |
| 5 |
Labcorp
LH
|
+$287M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 35.51% |
| 2 | Technology | 17.58% |
| 3 | Consumer Discretionary | 15.02% |
| 4 | Industrials | 8.03% |
| 5 | Healthcare | 6.17% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Omnicom Group
OMC
$24B
| $405M | 0.63% |
5,232,303
+22,513
| +0.4% | +$1.64M |
|
52
Texas Instruments
TXN
$241B
| $405M | 0.63% |
7,576,916
-10,705
| -0.1% | -$542K |
|
53
Lear
LEA
$8.56B
| $389M | 0.6% |
3,962,823
-150
| -0% | -$13.8K |
|
|
HOT
54
DELISTED
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
| $386M | 0.6% |
4,764,708
+159,717
| +3% | +$12.5M |
|
|
OCR
55
DELISTED
OMNICARE INC
OCR
| $385M | 0.6% |
5,273,314
-41,126
| -0.8% | -$2.79M |
|
|
MON
56
DELISTED
Monsanto Co
MON
| $382M | 0.59% |
3,199,158
+210,905
| +7% | +$24.5M |
|
57
Automatic Data Processing
ADP
$112B
| $379M | 0.59% |
4,549,399
-373,096
| -8% | -$30.2M |
|
58
Walmart Inc
WMT
$825B
| $360M | 0.56% |
12,572,637
-24,300
| -0.2% | -$657K |
|
59
State Street
STT
$51.4B
| $353M | 0.55% |
4,500,025
+2,575
| +0.1% | +$193K |
|
|
HNT
60
DELISTED
HEALTH NET INC
HNT
| $350M | 0.54% |
6,532,500
+41,233
| +0.6% | +$2.03M |
|
61
BorgWarner
BWA
$13.8B
| $337M | 0.52% |
6,969,948
+226,972
| +3% | +$11.1M |
|
62
Microsoft
MSFT
$3.59T
| $326M | 0.51% |
7,025,460
-16,043
| -0.2% | -$753K |
|
|
TIF
63
DELISTED
Tiffany & Co.
TIF
| $325M | 0.51% |
3,045,057
+47,369
| +2% | +$4.74M |
|
64
General Mills
GIS
$21.4B
| $316M | 0.49% |
5,927,200
+1,300
| +0% | +$67.2K |
|
65
News Corp Class A
NWSA
$16.4B
| $314M | 0.49% |
20,040,291
+7,753,800
| +63% | +$119M |
|
66
Tenet Healthcare
THC
$22.6B
| $306M | 0.47% |
6,036,077
+86,350
| +1% | +$4.51M |
|
|
CPN
67
DELISTED
Calpine Corporation
CPN
| $302M | 0.47% |
13,628,709
+147,825
| +1% | +$3.28M |
|
|
BHI
68
DELISTED
Baker Hughes
BHI
| $277M | 0.43% |
4,938,033
+6,895
| +0.1% | +$389K |
|
|
69
GE Aerospace
GE
$361B
| $275M | 0.43% |
2,269,728
+2,253,948
| +14,284% | +$277M |
|
70
Sanofi
SNY
$110B
| $269M | 0.42% |
5,895,950
+36,500
| +0.6% | +$1.77M |
|
|
HSNI
71
DELISTED
HSN, Inc.
HSNI
| $264M | 0.41% |
3,471,549
-28,800
| -0.8% | -$1.99M |
|
72
Las Vegas Sands
LVS
$30.5B
| $260M | 0.4% |
4,463,054
+997,741
| +29% | +$60.1M |
|
73
Rockwell Automation
ROK
$48.5B
| $252M | 0.39% |
2,268,796
-620
| -0% | -$68K |
|
74
Broadridge
BR
$20.8B
| $228M | 0.35% |
4,937,794
-34,315
| -0.7% | -$1.5M |
|
75
Reinsurance Group of America
RGA
$15.9B
| $223M | 0.35% |
2,544,175
+123,195
| +5% | +$10.3M |
|
Similar funds
Bill Nygren's Q4 2014 Portfolio in Review
As of Q4 2014, Bill Nygren held 185 positions worth $64.4B, up 5.7% from $60.9B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Bill Nygren's Q4 2014 filing shows 10 new, 74 increased, 76 reduced and 3 closed positions. Its largest new stake was Chesapeake Energy Corporation: 143,802 shares worth $563M. The largest sale was Oracle, an estimated $798M.
By sector, the portfolio is most concentrated in Financials at 36% of assets, up from 35% a quarter earlier, followed by Technology and Consumer Discretionary.
- Bill Nygren's largest Q4 2014 buy was Chesapeake Energy Corporation: 143,802 shares worth $563M.
- Bill Nygren added most to APA Corp in Q4 2014, an estimated $643M increase.
- Bill Nygren's biggest Q4 2014 reduction was Oracle, cutting an estimated $798M.
- Bill Nygren fully exited Varian Medical Systems, Inc. in Q4 2014, selling an estimated $53.9M.
- Bill Nygren's ten largest holdings make up 34% of its $64.4B portfolio in Q4 2014.
- Bill Nygren opened 10 new positions and closed 3 in Q4 2014.
- Bill Nygren's portfolio value rose 5.7% quarter-over-quarter to $64.4B.
Based on Harris Associates's 13F filing for Q4 2014, filed 23 Jan 2015.