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 |
Amazon
AMZN
|
+$1.03B |
| 2 |
Charter Communications
CHTR
|
+$548M |
| 3 |
Pinterest
PINS
|
+$504M |
| 4 |
Willis Towers Watson
WTW
|
+$442M |
| 5 |
Netflix
NFLX
|
+$405M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Humana
HUM
|
+$574M |
| 2 |
Hilton Worldwide
HLT
|
+$485M |
| 3 |
Bank of America
BAC
|
+$407M |
| 4 |
General Dynamics
GD
|
+$395M |
| 5 |
Berkshire Hathaway Class B
BRK.B
|
+$317M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 19.56% |
| 2 | Communication Services | 18.1% |
| 3 | Consumer Discretionary | 11.11% |
| 4 | Technology | 7.96% |
| 5 | Industrials | 7.33% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Philip Morris
PM
$293B
| $229M | 0.3% |
2,434,444
+23,333
| +1% | +$2.33M |
|
77
DXC Technology
DXC
$1.73B
| $220M | 0.29% |
6,750,713
-3,667,707
| -35% | -$121M |
|
78
Howard Hughes
HHH
$3.97B
| $207M | 0.27% |
2,099,378
+3,614
| +0.2% | +$333K |
|
79
Allison Transmission
ALSN
$11B
| $202M | 0.27% |
5,146,838
-8,000
| -0.2% | -$315K |
|
80
Moody's
MCO
$87.2B
| $201M | 0.27% |
596,266
-50,691
| -8% | -$17M |
|
81
First Citizens BancShares
FCNCA
$24.7B
| $200M | 0.26% |
300,263
+242,485
| +420% | +$189M |
|
82
Philips
PHG
$26.8B
| $195M | 0.26% |
+7,673,103
| New | +$210M |
|
83
PACCAR
PCAR
$69B
| $184M | 0.24% |
3,134,937
+54,169
| +2% | +$3.31M |
|
84
Pultegroup
PHM
$24.6B
| $184M | 0.24% |
4,391,326
+4,383,658
| +57,168% | +$218M |
|
85
Cummins
CMI
$80.9B
| $159M | 0.21% |
776,195
+12,782
| +2% | +$2.76M |
|
|
PDCE
86
DELISTED
PDC Energy, Inc.
PDCE
| $158M | 0.21% |
2,171,367
-277,901
| -11% | -$17.2M |
|
87
Halliburton
HAL
$29.4B
| $156M | 0.21% |
4,123,241
-5,785,800
| -58% | -$187M |
|
88
Cushman & Wakefield Ltd
CWK
$3.48B
| $135M | 0.18% |
6,568,517
+712,373
| +12% | +$15.1M |
|
|
ARNC
89
DELISTED
Arconic Corporation
ARNC
| $130M | 0.17% |
5,064,909
+22,026
| +0.4% | +$655K |
|
90
Wendy's
WEN
$1.72B
| $129M | 0.17% |
5,865,804
+640,868
| +12% | +$14.4M |
|
91
ManpowerGroup
MAN
$2.86B
| $128M | 0.17% |
1,366,784
+7,912
| +0.6% | +$806K |
|
|
SEE
92
DELISTED
Sealed Air
SEE
| $111M | 0.15% |
1,654,715
-11,945
| -0.7% | -$795K |
|
|
CHX
93
DELISTED
ChampionX
CHX
| $103M | 0.14% |
4,217,042
+925,300
| +28% | +$21.4M |
|
94
Carter's
CRI
$1.31B
| $98.1M | 0.13% |
1,065,950
+27,756
| +3% | +$2.61M |
|
95
Lamb Weston
LW
$7.38B
| $67.7M | 0.09% |
+1,130,256
| New | +$70.2M |
|
96
Johnson Controls International
JCI
$86.7B
| $67M | 0.09% |
1,022,215
-297,384
| -23% | -$20.5M |
|
97
Post Holdings
POST
$3.65B
| $64.4M | 0.08% |
929,138
-2,081,807
| -69% | -$146M |
|
98
Dollar Tree
DLTR
$25.3B
| $60.7M | 0.08% |
379,100
+51,310
| +16% | +$7.26M |
|
99
Warner Music
WMG
$14.2B
| $57.2M | 0.08% |
1,511,032
+1,107,099
| +274% | +$41.9M |
|
100
Envista
NVST
$4.37B
| $56.5M | 0.07% |
1,159,528
-2,120,988
| -65% | -$97.8M |
|
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Bill Nygren's Q1 2022 Portfolio in Review
As of Q1 2022, Bill Nygren held 150 positions worth $75.9B, up 18% from $64.2B the previous quarter. Its ten largest holdings account for 44% of the portfolio.
Bill Nygren's Q1 2022 filing shows 7 new, 60 increased, 67 reduced and 9 closed positions. Its largest new stake was Lithia Motors: 778,500 shares worth $234M. The largest sale was Humana, an estimated $574M.
By sector, the portfolio is most concentrated in Financials at 20% of assets, down from 24% a quarter earlier, followed by Communication Services and Consumer Discretionary.
- Bill Nygren's largest Q1 2022 buy was Lithia Motors: 778,500 shares worth $234M.
- Bill Nygren added most to Amazon in Q1 2022, an estimated $1.03B increase.
- Bill Nygren's biggest Q1 2022 reduction was Humana, cutting an estimated $574M.
- Bill Nygren fully exited CIT Group Inc. in Q1 2022, selling an estimated $70.9M.
- Bill Nygren's ten largest holdings make up 44% of its $75.9B portfolio in Q1 2022.
- Bill Nygren opened 7 new positions and closed 9 in Q1 2022.
- Bill Nygren's portfolio value rose 18% quarter-over-quarter to $75.9B.
Based on Harris Associates's 13F filing for Q1 2022, filed 16 May 2022.