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 |
FISV
Fiserv Inc
FISV
|
+$467M |
| 2 |
Vipshop
VIPS
|
+$448M |
| 3 |
Humana
HUM
|
+$438M |
| 4 |
Alibaba
BABA
|
+$303M |
| 5 |
PACCAR
PCAR
|
+$128M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$258M |
| 2 |
CNH
CNH Industrial
CNH
|
+$223M |
| 3 |
Bank of America
BAC
|
+$215M |
| 4 |
HCA Healthcare
HCA
|
+$203M |
| 5 |
Cenovus Energy
CVE
|
+$197M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 23.96% |
| 2 | Communication Services | 22.64% |
| 3 | Consumer Discretionary | 12.65% |
| 4 | Technology | 10.03% |
| 5 | Healthcare | 9.69% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
ConocoPhillips
COP
$162B
| $358M | 0.57% |
5,284,332
+1,029,486
| +24% | +$59.4M |
|
52
eBay
EBAY
$46.3B
| $354M | 0.56% |
5,075,887
-893,337
| -15% | -$64M |
|
|
53
Alphabet (Google) Class C
GOOG
$4.18T
| $353M | 0.56% |
2,650,580
-368,200
| -12% | -$50.8M |
|
|
54
Vipshop
VIPS
$6.98B
| $318M | 0.51% |
+28,525,800
| New | +$448M |
|
|
55
Cenovus Energy
CVE
$60.7B
| $316M | 0.5% |
31,414,185
-23,117,622
| -42% | -$197M |
|
|
LBRDK
56
DELISTED
Liberty Broadband Class C
LBRDK
| $312M | 0.5% |
1,806,888
-41,011
| -2% | -$7.39M |
|
57
Diamondback Energy
FANG
$59B
| $311M | 0.5% |
3,283,437
+2,143
| +0.1% | +$172K |
|
58
Howmet Aerospace
HWM
$108B
| $309M | 0.49% |
9,917,205
-1,471,085
| -13% | -$47.4M |
|
59
Thor Industries
THO
$4.14B
| $308M | 0.49% |
2,504,908
+577,661
| +30% | +$65.9M |
|
60
LivaNova
LIVN
$4.34B
| $302M | 0.48% |
3,814,865
+25,544
| +0.7% | +$2.1M |
|
61
KKR & Co
KKR
$97.4B
| $262M | 0.42% |
4,306,213
+12,780
| +0.3% | +$803K |
|
|
BNY
62
Bank of New York Mellon
BNY
$108B
| $248M | 0.4% |
4,786,061
-259,081
| -5% | -$13.5M |
|
|
CDK
63
DELISTED
CDK Global, Inc.
CDK
| $247M | 0.39% |
5,813,915
+422,244
| +8% | +$19M |
|
64
Restaurant Brands International
QSR
$28.2B
| $245M | 0.39% |
3,996,643
-4,765
| -0.1% | -$305K |
|
65
NOV
NOV
$7.28B
| $236M | 0.38% |
17,998,461
+1,897,450
| +12% | +$25.6M |
|
66
Intercontinental Exchange
ICE
$90.5B
| $235M | 0.37% |
2,049,565
+718,938
| +54% | +$85.3M |
|
67
Altria Group
MO
$110B
| $233M | 0.37% |
5,110,129
+7,294
| +0.1% | +$352K |
|
68
Carlisle Companies
CSL
$14.6B
| $230M | 0.37% |
1,155,815
-25,335
| -2% | -$5.11M |
|
69
Philip Morris
PM
$293B
| $228M | 0.36% |
2,403,128
-119,888
| -5% | -$12.1M |
|
70
Flowserve
FLS
$10.1B
| $225M | 0.36% |
6,487,883
+394,854
| +6% | +$15.4M |
|
71
Post Holdings
POST
$3.65B
| $218M | 0.35% |
3,030,012
+61,103
| +2% | +$4.33M |
|
72
Halliburton
HAL
$29.4B
| $218M | 0.35% |
10,064,906
+8,814
| +0.1% | +$181K |
|
73
T-Mobile US
TMUS
$196B
| $211M | 0.34% |
1,654,567
+24,309
| +1% | +$3.39M |
|
74
BorgWarner
BWA
$13.8B
| $208M | 0.33% |
5,473,134
-4,799
| -0.1% | -$191K |
|
75
Salesforce
CRM
$171B
| $185M | 0.3% |
683,552
+10,132
| +2% | +$2.57M |
|
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Bill Nygren's Q3 2021 Portfolio in Review
As of Q3 2021, Bill Nygren held 144 positions worth $62.8B, down 0.04% from $62.8B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Bill Nygren's Q3 2021 filing shows 8 new, 52 increased, 73 reduced and 7 closed positions. Its largest new stake was Vipshop: 28,525,800 shares worth $318M. The largest sale was Alphabet (Google) Class A, an estimated $258M.
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 Q3 2021 buy was Vipshop: 28,525,800 shares worth $318M.
- Bill Nygren added most to Fiserv Inc in Q3 2021, an estimated $467M increase.
- Bill Nygren's biggest Q3 2021 reduction was Alphabet (Google) Class A, cutting an estimated $258M.
- Bill Nygren fully exited Controladora Vuela Compania de Aviacion in Q3 2021, selling an estimated $22.4M.
- Bill Nygren's ten largest holdings make up 36% of its $62.8B portfolio in Q3 2021.
- Bill Nygren opened 8 new positions and closed 7 in Q3 2021.
- Bill Nygren's portfolio value fell 0.04% quarter-over-quarter to $62.8B.
Based on Harris Associates's 13F filing for Q3 2021, filed 15 Nov 2021.