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 | |
|---|---|---|---|---|---|---|
51
State Street
STT
$51.4B
| $407M | 0.65% |
4,941,902
-1,025
| -0% | -$86.5K |
|
52
Howmet Aerospace
HWM
$108B
| $393M | 0.63% |
11,388,290
-4,653,486
| -29% | -$155M |
|
|
53
Alphabet (Google) Class C
GOOG
$4.18T
| $378M | 0.6% |
3,018,780
-11,799,560
| -80% | -$1.41B |
|
54
American Express
AXP
$227B
| $369M | 0.59% |
2,233,125
+2,270
| +0.1% | +$356K |
|
55
Johnson Controls International
JCI
$86.7B
| $337M | 0.54% |
4,915,858
-296,994
| -6% | -$19.2M |
|
|
LBRDK
56
DELISTED
Liberty Broadband Class C
LBRDK
| $321M | 0.51% |
1,847,899
+20,070
| +1% | +$3.23M |
|
57
LivaNova
LIVN
$4.34B
| $319M | 0.51% |
3,789,321
-30,640
| -0.8% | -$2.52M |
|
58
Diamondback Energy
FANG
$59B
| $308M | 0.49% |
3,281,294
-144
| -0% | -$11.9K |
|
|
CDK
59
DELISTED
CDK Global, Inc.
CDK
| $268M | 0.43% |
5,391,671
+177,170
| +3% | +$9.38M |
|
60
ConocoPhillips
COP
$162B
| $259M | 0.41% |
4,254,846
+2,047,529
| +93% | +$114M |
|
|
BNY
61
Bank of New York Mellon
BNY
$108B
| $258M | 0.41% |
5,045,142
-9,026
| -0.2% | -$452K |
|
62
Restaurant Brands International
QSR
$28.2B
| $258M | 0.41% |
4,001,408
-4,700
| -0.1% | -$317K |
|
63
KKR & Co
KKR
$97.4B
| $254M | 0.41% |
4,293,433
+82,344
| +2% | +$4.57M |
|
64
Philip Morris
PM
$293B
| $250M | 0.4% |
2,523,016
+21,215
| +0.8% | +$2.04M |
|
65
NOV
NOV
$7.28B
| $247M | 0.39% |
16,101,011
+1,008,046
| +7% | +$15.7M |
|
66
Flowserve
FLS
$10.1B
| $246M | 0.39% |
6,093,029
+157,700
| +3% | +$6.52M |
|
67
Altria Group
MO
$110B
| $243M | 0.39% |
5,102,835
+2,040,620
| +67% | +$100M |
|
68
T-Mobile US
TMUS
$196B
| $236M | 0.38% |
1,630,258
+250,583
| +18% | +$34.6M |
|
69
BorgWarner
BWA
$13.8B
| $234M | 0.37% |
5,477,933
-339,780
| -6% | -$15M |
|
70
Halliburton
HAL
$29.4B
| $232M | 0.37% |
10,056,092
+250,975
| +3% | +$5.58M |
|
71
Envista
NVST
$4.37B
| $227M | 0.36% |
5,258,321
-3,465,242
| -40% | -$150M |
|
72
Carlisle Companies
CSL
$14.6B
| $226M | 0.36% |
1,181,150
+6,575
| +0.6% | +$1.22M |
|
73
Thor Industries
THO
$4.14B
| $218M | 0.35% |
1,927,247
+402,564
| +26% | +$51.2M |
|
74
Post Holdings
POST
$3.65B
| $211M | 0.34% |
2,968,909
-185,627
| -6% | -$13.7M |
|
75
S&P Global
SPGI
$127B
| $202M | 0.32% |
492,127
+8,083
| +2% | +$3.11M |
|
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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.