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
|
+$734M |
| 2 |
Willis Towers Watson
WTW
|
+$388M |
| 3 |
Visa
V
|
+$274M |
| 4 |
BorgWarner
BWA
|
+$189M |
| 5 |
Take-Two Interactive
TTWO
|
+$179M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$708M |
| 2 |
CNH
CNH Industrial
CNH
|
+$407M |
| 3 |
Cenovus Energy
CVE
|
+$316M |
| 4 |
Automatic Data Processing
ADP
|
+$306M |
| 5 |
Bank of America
BAC
|
+$287M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 24.01% |
| 2 | Communication Services | 21.76% |
| 3 | Consumer Discretionary | 12.31% |
| 4 | Healthcare | 10.37% |
| 5 | Technology | 10.26% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Intercontinental Exchange
ICE
$90.5B
| $351M | 0.55% |
2,569,528
+519,963
| +25% | +$68.9M |
|
52
Restaurant Brands International
QSR
$28.2B
| $343M | 0.53% |
5,648,088
+1,651,445
| +41% | +$97.3M |
|
53
Howmet Aerospace
HWM
$108B
| $336M | 0.52% |
10,550,805
+633,600
| +6% | +$19.5M |
|
54
DXC Technology
DXC
$1.73B
| $335M | 0.52% |
10,418,420
-312,714
| -3% | -$10.2M |
|
55
LivaNova
LIVN
$4.34B
| $334M | 0.52% |
3,823,266
+8,401
| +0.2% | +$701K |
|
56
Diamondback Energy
FANG
$59B
| $328M | 0.51% |
3,041,049
-242,388
| -7% | -$26.3M |
|
57
Vipshop
VIPS
$6.98B
| $323M | 0.5% |
38,410,444
+9,884,644
| +35% | +$103M |
|
58
eBay
EBAY
$46.3B
| $315M | 0.49% |
4,733,292
-342,595
| -7% | -$24.5M |
|
59
T-Mobile US
TMUS
$196B
| $303M | 0.47% |
2,611,740
+957,173
| +58% | +$113M |
|
|
LBRDK
60
DELISTED
Liberty Broadband Class C
LBRDK
| $293M | 0.46% |
1,817,779
+10,891
| +0.6% | +$1.79M |
|
61
KKR & Co
KKR
$97.4B
| $293M | 0.46% |
3,928,941
-377,272
| -9% | -$27.8M |
|
62
Altria Group
MO
$110B
| $291M | 0.45% |
6,142,899
+1,032,770
| +20% | +$47.3M |
|
|
BNY
63
Bank of New York Mellon
BNY
$108B
| $278M | 0.43% |
4,793,246
+7,185
| +0.2% | +$413K |
|
64
Thor Industries
THO
$4.14B
| $270M | 0.42% |
2,603,695
+98,787
| +4% | +$10.7M |
|
|
CDK
65
DELISTED
CDK Global, Inc.
CDK
| $268M | 0.42% |
6,425,459
+611,544
| +11% | +$25.7M |
|
|
66
Automatic Data Processing
ADP
$112B
| $262M | 0.41% |
1,064,176
-1,349,943
| -56% | -$306M |
|
67
Moody's
MCO
$87.2B
| $253M | 0.39% |
646,957
-423,071
| -40% | -$163M |
|
68
NOV
NOV
$7.28B
| $249M | 0.39% |
18,377,342
+378,881
| +2% | +$5.2M |
|
69
Carlisle Companies
CSL
$14.6B
| $243M | 0.38% |
977,365
-178,450
| -15% | -$41M |
|
70
Philip Morris
PM
$293B
| $229M | 0.36% |
2,411,111
+7,983
| +0.3% | +$746K |
|
71
Halliburton
HAL
$29.4B
| $227M | 0.35% |
9,909,041
-155,865
| -2% | -$3.69M |
|
72
Post Holdings
POST
$3.65B
| $222M | 0.35% |
3,010,945
-19,067
| -0.6% | -$1.31M |
|
73
Howard Hughes
HHH
$3.97B
| $203M | 0.32% |
2,095,764
+293,454
| +16% | +$25.7M |
|
74
Flowserve
FLS
$10.1B
| $199M | 0.31% |
6,513,130
+25,247
| +0.4% | +$835K |
|
75
Allison Transmission
ALSN
$11B
| $187M | 0.29% |
5,154,838
+474,890
| +10% | +$16.8M |
|
Similar funds
Bill Nygren's Q4 2021 Portfolio in Review
As of Q4 2021, Bill Nygren held 147 positions worth $64.2B, up 2.3% from $62.8B the previous quarter. Its ten largest holdings account for 37% of the portfolio.
Bill Nygren's Q4 2021 filing shows 10 new, 59 increased, 67 reduced and 5 closed positions. Its largest new stake was Take-Two Interactive: 1,026,868 shares worth $182M. The largest sale was Alibaba, an estimated $708M.
By sector, the portfolio is most concentrated in Financials at 24% of assets, up from 24% a quarter earlier, followed by Communication Services and Consumer Discretionary.
- Bill Nygren's largest Q4 2021 buy was Take-Two Interactive: 1,026,868 shares worth $182M.
- Bill Nygren added most to Fiserv Inc in Q4 2021, an estimated $734M increase.
- Bill Nygren's biggest Q4 2021 reduction was CNH Industrial, cutting an estimated $407M.
- Bill Nygren fully exited Alibaba in Q4 2021, selling an estimated $708M.
- Bill Nygren's ten largest holdings make up 37% of its $64.2B portfolio in Q4 2021.
- Bill Nygren opened 10 new positions and closed 5 in Q4 2021.
- Bill Nygren's portfolio value rose 2.3% quarter-over-quarter to $64.2B.
Based on Harris Associates's 13F filing for Q4 2021, filed 14 Feb 2022.