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 |
MON
Monsanto Co
MON
|
+$400M |
| 2 |
Stellantis
STLA
|
+$381M |
| 3 |
Caterpillar
CAT
|
+$295M |
| 4 |
American Express
AXP
|
+$252M |
| 5 |
GE Aerospace
GE
|
+$249M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Amazon
AMZN
|
+$359M |
| 2 |
Illinois Tool Works
ITW
|
+$324M |
| 3 |
Franklin Templeton, Inc.
BEN
|
+$317M |
| 4 |
Medtronic
MDT
|
+$302M |
| 5 |
Mastercard
MA
|
+$295M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 37.41% |
| 2 | Technology | 15.99% |
| 3 | Consumer Discretionary | 13.88% |
| 4 | Industrials | 10.42% |
| 5 | Energy | 5.53% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
IPG
51
DELISTED
Interpublic Group of Companies
IPG
| $387M | 0.62% |
20,102,045
+221,350
| +1% | +$4.59M |
|
52
Qualcomm
QCOM
$169B
| $383M | 0.61% |
6,114,118
+491,040
| +9% | +$33.5M |
|
53
Texas Instruments
TXN
$241B
| $381M | 0.61% |
7,396,830
-24,400
| -0.3% | -$1.35M |
|
|
BHI
54
DELISTED
Baker Hughes
BHI
| $377M | 0.6% |
6,110,388
-28,555
| -0.5% | -$1.87M |
|
55
Automatic Data Processing
ADP
$112B
| $373M | 0.59% |
4,643,749
+95,400
| +2% | +$8.13M |
|
56
Tenet Healthcare
THC
$22.6B
| $367M | 0.59% |
6,332,303
+495,001
| +8% | +$25.3M |
|
|
57
Stellantis
STLA
$20.4B
| $352M | 0.56% |
+37,186,789
| New | +$381M |
|
|
CMCSK
58
DELISTED
COMCAST CORP SPL A (NEW)
CMCSK
| $352M | 0.56% |
5,877,505
-3,378
| -0.1% | -$202K |
|
59
BorgWarner
BWA
$13.8B
| $349M | 0.56% |
6,970,744
-1,931
| -0% | -$103K |
|
60
State Street
STT
$51.4B
| $346M | 0.55% |
4,498,875
-2,250
| -0% | -$175K |
|
|
HNT
61
DELISTED
HEALTH NET INC
HNT
| $334M | 0.53% |
5,205,615
-647,085
| -11% | -$38.7M |
|
62
General Mills
GIS
$21.4B
| $332M | 0.53% |
5,951,800
+2,400
| +0% | +$134K |
|
|
OCR
63
DELISTED
OMNICARE INC
OCR
| $330M | 0.53% |
3,498,303
-1,035,518
| -23% | -$92.4M |
|
64
Philip Morris
PM
$293B
| $312M | 0.5% |
3,887,427
-1,276,300
| -25% | -$105M |
|
65
Lear
LEA
$8.56B
| $309M | 0.49% |
2,753,243
-789,880
| -22% | -$90.7M |
|
66
News Corp Class A
NWSA
$16.4B
| $305M | 0.49% |
20,911,827
+401,936
| +2% | +$6.17M |
|
67
Sanofi
SNY
$110B
| $293M | 0.47% |
5,909,550
+5,500
| +0.1% | +$279K |
|
68
CarMax
KMX
$8.82B
| $292M | 0.47% |
4,412,924
-568,355
| -11% | -$40.5M |
|
|
TRCO
69
DELISTED
TRIBUNE MEDIA COMPANY CLASS A
TRCO
| $292M | 0.47% |
5,460,305
+2,678,788
| +96% | +$150M |
|
70
T. Rowe Price
TROW
$23.8B
| $288M | 0.46% |
3,704,650
+693,841
| +23% | +$56M |
|
71
Rockwell Automation
ROK
$48.5B
| $281M | 0.45% |
2,257,917
-10,879
| -0.5% | -$1.31M |
|
72
Cummins
CMI
$80.9B
| $279M | 0.44% |
2,123,073
+1,347,638
| +174% | +$185M |
|
73
Omnicom Group
OMC
$24B
| $273M | 0.44% |
3,923,670
-1,348,488
| -26% | -$102M |
|
|
74
American Express
AXP
$227B
| $247M | 0.39% |
+3,177,705
| New | +$252M |
|
|
CPN
75
DELISTED
Calpine Corporation
CPN
| $247M | 0.39% |
13,713,924
-11,035
| -0.1% | -$230K |
|
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Bill Nygren's Q2 2015 Portfolio in Review
As of Q2 2015, Bill Nygren held 172 positions worth $62.6B, down 1.1% from $63.3B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Bill Nygren's Q2 2015 filing shows 5 new, 37 increased, 88 reduced and 34 closed positions. Its largest new stake was Stellantis: 37,186,789 shares worth $352M. The largest sale was Amazon, an estimated $359M.
By sector, the portfolio is most concentrated in Financials at 37% of assets, up from 36% a quarter earlier, followed by Technology and Consumer Discretionary.
- Bill Nygren's largest Q2 2015 buy was Stellantis: 37,186,789 shares worth $352M.
- Bill Nygren added most to Monsanto Co in Q2 2015, an estimated $400M increase.
- Bill Nygren's biggest Q2 2015 reduction was Amazon, cutting an estimated $359M.
- Bill Nygren fully exited Ralph Lauren in Q2 2015, selling an estimated $109M.
- Bill Nygren's ten largest holdings make up 34% of its $62.6B portfolio in Q2 2015.
- Bill Nygren opened 5 new positions and closed 34 in Q2 2015.
- Bill Nygren's portfolio value fell 1.1% quarter-over-quarter to $62.6B.
Based on Harris Associates's 13F filing for Q2 2015, filed 11 Aug 2015.