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 |
IQVIA
IQV
|
+$1.37B |
| 2 |
Cisco
CSCO
|
+$591M |
| 3 |
Kroger
KR
|
+$342M |
| 4 |
Centene
CNC
|
+$265M |
| 5 |
Corteva
CTVA
|
+$255M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Amazon
AMZN
|
+$682M |
| 2 |
Parker-Hannifin
PH
|
+$471M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$435M |
| 4 |
Oracle
ORCL
|
+$428M |
| 5 |
Workday
WDAY
|
+$382M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 31.73% |
| 2 | Communication Services | 18.05% |
| 3 | Consumer Discretionary | 11.25% |
| 4 | Technology | 10.27% |
| 5 | Industrials | 8.45% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Reinsurance Group of America
RGA
$15.9B
| $299M | 0.58% |
2,056,262
-30,771
| -1% | -$4.36M |
|
52
Fortune Brands Innovations
FBIN
$5.32B
| $297M | 0.58% |
4,778,283
-101,503
| -2% | -$6.98M |
|
53
Baxter International
BAX
$13.6B
| $290M | 0.56% |
7,680,385
+5,254,606
| +217% | +$224M |
|
54
Magna International
MGA
$19.5B
| $282M | 0.55% |
5,265,285
+1,908,476
| +57% | +$111M |
|
55
Moody's
MCO
$87.2B
| $280M | 0.55% |
886,957
-237,891
| -21% | -$80.9M |
|
|
56
Centene
CNC
$32.1B
| $274M | 0.53% |
+3,981,917
| New | +$265M |
|
57
CVS Health
CVS
$119B
| $274M | 0.53% |
3,919,295
+2,907,396
| +287% | +$206M |
|
58
Meta Platforms (Facebook)
META
$1.4T
| $273M | 0.53% |
908,358
-561,353
| -38% | -$169M |
|
|
59
Alphabet (Google) Class C
GOOG
$4.18T
| $259M | 0.5% |
1,961,187
-171,311
| -8% | -$22.3M |
|
60
Carlisle Companies
CSL
$14.6B
| $252M | 0.49% |
970,552
-146,383
| -13% | -$39.2M |
|
61
Envista
NVST
$4.37B
| $251M | 0.49% |
9,011,019
+2,808,291
| +45% | +$90.9M |
|
62
Thor Industries
THO
$4.14B
| $249M | 0.48% |
2,615,529
-393,035
| -13% | -$41.1M |
|
|
63
Corteva
CTVA
$54.6B
| $246M | 0.48% |
+4,816,721
| New | +$255M |
|
64
Celanese
CE
$5.14B
| $235M | 0.46% |
1,874,465
+78,646
| +4% | +$9.67M |
|
65
Phillips 66
PSX
$96.9B
| $229M | 0.45% |
+1,905,478
| New | +$214M |
|
66
Visa
V
$693B
| $221M | 0.43% |
960,261
-425,280
| -31% | -$102M |
|
67
Equifax
EFX
$22.6B
| $203M | 0.39% |
1,105,799
-172,384
| -13% | -$35.2M |
|
68
eBay
EBAY
$46.3B
| $200M | 0.39% |
4,546,719
+39,992
| +0.9% | +$1.78M |
|
|
SEE
69
DELISTED
Sealed Air
SEE
| $200M | 0.39% |
6,072,646
+1,975,001
| +48% | +$76.3M |
|
70
Pinterest
PINS
$13.3B
| $176M | 0.34% |
6,512,153
-4,832,618
| -43% | -$132M |
|
71
Walt Disney
DIS
$186B
| $167M | 0.32% |
2,057,346
+61,810
| +3% | +$5.28M |
|
72
Wendy's
WEN
$1.72B
| $158M | 0.31% |
7,746,996
+2,146,692
| +38% | +$44.8M |
|
73
Howard Hughes
HHH
$3.97B
| $156M | 0.3% |
2,208,443
+1,057
| +0% | +$79.7K |
|
74
Pultegroup
PHM
$24.6B
| $145M | 0.28% |
1,954,842
-2,008,472
| -51% | -$160M |
|
75
Carter's
CRI
$1.31B
| $123M | 0.24% |
1,772,367
-31,479
| -2% | -$2.25M |
|
Similar funds
Bill Nygren's Q3 2023 Portfolio in Review
As of Q3 2023, Bill Nygren held 150 positions worth $51.4B, down 3.3% from $53.1B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Bill Nygren's Q3 2023 filing shows 8 new, 39 increased, 81 reduced and 16 closed positions. Its largest new stake was Cisco: 10,945,290 shares worth $588M. The largest sale was Amazon, an estimated $682M.
By sector, the portfolio is most concentrated in Financials at 32% of assets, up from 31% a quarter earlier, followed by Communication Services and Consumer Discretionary.
- Bill Nygren's largest Q3 2023 buy was Cisco: 10,945,290 shares worth $588M.
- Bill Nygren added most to IQVIA in Q3 2023, an estimated $1.37B increase.
- Bill Nygren's biggest Q3 2023 reduction was Amazon, cutting an estimated $682M.
- Bill Nygren fully exited PACCAR in Q3 2023, selling an estimated $132M.
- Bill Nygren's ten largest holdings make up 36% of its $51.4B portfolio in Q3 2023.
- Bill Nygren opened 8 new positions and closed 16 in Q3 2023.
- Bill Nygren's portfolio value fell 3.3% quarter-over-quarter to $51.4B.
Based on Harris Associates's 13F filing for Q3 2023, filed 14 Nov 2023.