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
|
+$654M |
| 2 |
Televisa
TV
|
+$422M |
| 3 |
Cummins
CMI
|
+$418M |
| 4 |
Charter Communications
CHTR
|
+$310M |
| 5 |
Ally Financial
ALLY
|
+$305M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Baidu
BIDU
|
+$945M |
| 2 |
Amazon
AMZN
|
+$945M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$739M |
| 4 |
Intel
INTC
|
+$390M |
| 5 |
CMCSK
COMCAST CORP SPL A (NEW)
CMCSK
|
+$280M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 35.4% |
| 2 | Technology | 16.62% |
| 3 | Industrials | 12.28% |
| 4 | Consumer Discretionary | 12.07% |
| 5 | Communication Services | 9% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Reinsurance Group of America
RGA
$15.9B
| $217M | 0.37% |
2,534,800
-375
| -0% | -$34K |
|
|
CPN
77
DELISTED
Calpine Corporation
CPN
| $213M | 0.36% |
14,709,304
+2,048,305
| +16% | +$30M |
|
78
Franklin Templeton, Inc.
BEN
$17.4B
| $210M | 0.36% |
5,694,551
-7,073,494
| -55% | -$277M |
|
|
TRCO
79
DELISTED
TRIBUNE MEDIA COMPANY CLASS A
TRCO
| $203M | 0.34% |
5,989,535
+99,969
| +2% | +$3.74M |
|
|
USG
80
DELISTED
Usg
USG
| $168M | 0.28% |
6,914,950
+1,856,150
| +37% | +$45.7M |
|
|
HSNI
81
DELISTED
HSN, Inc.
HSNI
| $164M | 0.28% |
3,245,999
-21,555
| -0.7% | -$1.17M |
|
82
W.W. Grainger
GWW
$61.8B
| $160M | 0.27% |
788,763
-45,835
| -5% | -$9.42M |
|
83
Harley-Davidson
HOG
$2.93B
| $157M | 0.27% |
3,465,614
-27,340
| -0.8% | -$1.35M |
|
84
Lear
LEA
$8.56B
| $156M | 0.26% |
1,272,634
-1,476,409
| -54% | -$180M |
|
|
PCP
85
DELISTED
PRECISION CASTPARTS CORP
PCP
| $155M | 0.26% |
669,685
-216,065
| -24% | -$49.9M |
|
86
Bruker
BRKR
$9.07B
| $144M | 0.24% |
5,950,998
-838,338
| -12% | -$17.4M |
|
87
Live Nation Entertainment
LYV
$42.4B
| $130M | 0.22% |
5,299,930
+285,080
| +6% | +$7.3M |
|
88
Howard Hughes
HHH
$3.97B
| $121M | 0.2% |
1,117,863
+139,263
| +14% | +$16M |
|
89
Oceaneering
OII
$5.28B
| $118M | 0.2% |
3,134,250
-78,830
| -2% | -$3.37M |
|
90
Itron
ITRI
$4.38B
| $114M | 0.19% |
3,156,690
+233,220
| +8% | +$8.23M |
|
91
Illinois Tool Works
ITW
$80.4B
| $111M | 0.19% |
1,192,889
-191,033
| -14% | -$17.3M |
|
92
Broadridge
BR
$20.8B
| $104M | 0.18% |
1,942,000
-1,994,611
| -51% | -$112M |
|
93
Manitowoc
MTW
$710M
| $101M | 0.17% |
7,280,422
+2,148,554
| +42% | +$30.4M |
|
|
KATE
94
DELISTED
Kate Spade & Company
KATE
| $93.7M | 0.16% |
5,270,120
+124,536
| +2% | +$2.43M |
|
95
Carter's
CRI
$1.31B
| $75.4M | 0.13% |
847,025
-94,125
| -10% | -$8.4M |
|
96
Check Point Software Technologies
CHKP
$13.3B
| $72.8M | 0.12% |
895,150
-13,150
| -1% | -$1.09M |
|
97
DNOW Inc
DNOW
$2.83B
| $64.9M | 0.11% |
4,104,289
-2,591,422
| -39% | -$44.2M |
|
|
WCC
98
WESCO International
WCC
$17B
| $60.6M | 0.1% |
1,388,341
-98,419
| -7% | -$4.59M |
|
99
MillerKnoll
MLKN
$1.57B
| $57.8M | 0.1% |
2,012,402
-57,597
| -3% | -$1.77M |
|
100
Dillards
DDS
$9.71B
| $56.1M | 0.1% |
854,286
+257,051
| +43% | +$20.7M |
|
Similar funds
Bill Nygren's Q4 2015 Portfolio in Review
As of Q4 2015, Bill Nygren held 129 positions worth $59B, up 3.2% from $57.2B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Bill Nygren's Q4 2015 filing shows 8 new, 42 increased, 74 reduced and 5 closed positions. Its largest new stake was Alphabet (Google) Class A: 17,660,680 shares worth $687M. The largest sale was Baidu, an estimated $945M.
By sector, the portfolio is most concentrated in Financials at 35% of assets, up from 35% a quarter earlier, followed by Technology and Industrials.
- Bill Nygren's largest Q4 2015 buy was Alphabet (Google) Class A: 17,660,680 shares worth $687M.
- Bill Nygren added most to Cummins in Q4 2015, an estimated $418M increase.
- Bill Nygren's biggest Q4 2015 reduction was Baidu, cutting an estimated $945M.
- Bill Nygren fully exited COMCAST CORP SPL A (NEW) in Q4 2015, selling an estimated $280M.
- Bill Nygren's ten largest holdings make up 34% of its $59B portfolio in Q4 2015.
- Bill Nygren opened 8 new positions and closed 5 in Q4 2015.
- Bill Nygren's portfolio value rose 3.2% quarter-over-quarter to $59B.
Based on Harris Associates's 13F filing for Q4 2015, filed 9 Feb 2016.