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
|
+$826M |
| 2 |
Parker-Hannifin
PH
|
+$573M |
| 3 |
Salesforce
CRM
|
+$533M |
| 4 |
KKR & Co
KKR
|
+$328M |
| 5 |
Meta Platforms (Facebook)
META
|
+$272M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Humana
HUM
|
+$938M |
| 2 |
Constellation Brands
STZ
|
+$779M |
| 3 |
Keurig Dr Pepper
KDP
|
+$737M |
| 4 |
General Dynamics
GD
|
+$434M |
| 5 |
Regeneron Pharmaceuticals
REGN
|
+$332M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 20.1% |
| 2 | Communication Services | 18.38% |
| 3 | Consumer Discretionary | 11.62% |
| 4 | Technology | 8.82% |
| 5 | Industrials | 7.77% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Flowserve
FLS
$10.1B
| $198M | 0.31% |
6,905,987
+11,701
| +0.2% | +$373K |
|
77
Pultegroup
PHM
$24.6B
| $192M | 0.3% |
4,835,529
+444,203
| +10% | +$18.7M |
|
78
Walt Disney
DIS
$186B
| $182M | 0.29% |
1,932,350
+1,587,342
| +460% | +$176M |
|
79
Diamondback Energy
FANG
$59B
| $181M | 0.29% |
1,495,838
-921,006
| -38% | -$126M |
|
80
PACCAR
PCAR
$69B
| $173M | 0.28% |
3,153,239
+18,302
| +0.6% | +$1.03M |
|
81
Howard Hughes
HHH
$3.97B
| $145M | 0.23% |
2,228,977
+129,599
| +6% | +$10.6M |
|
|
ARNC
82
DELISTED
Arconic Corporation
ARNC
| $139M | 0.22% |
4,950,899
-114,010
| -2% | -$3.08M |
|
83
Cushman & Wakefield Ltd
CWK
$3.48B
| $131M | 0.21% |
8,625,822
+2,057,305
| +31% | +$36.2M |
|
84
Cummins
CMI
$80.9B
| $127M | 0.2% |
655,030
-121,165
| -16% | -$24.2M |
|
85
Wendy's
WEN
$1.72B
| $124M | 0.2% |
6,554,710
+688,906
| +12% | +$13.1M |
|
86
Philip Morris
PM
$293B
| $124M | 0.2% |
1,251,859
-1,182,585
| -49% | -$121M |
|
|
PDCE
87
DELISTED
PDC Energy, Inc.
PDCE
| $123M | 0.19% |
1,988,453
-182,914
| -8% | -$13.3M |
|
88
Carter's
CRI
$1.31B
| $121M | 0.19% |
1,716,106
+650,156
| +61% | +$52.4M |
|
89
CVS Health
CVS
$119B
| $110M | 0.18% |
1,191,483
-2,975,474
| -71% | -$290M |
|
90
ManpowerGroup
MAN
$2.86B
| $96.2M | 0.15% |
1,259,283
-107,501
| -8% | -$9.41M |
|
|
SEE
91
DELISTED
Sealed Air
SEE
| $93.9M | 0.15% |
1,626,352
-28,363
| -2% | -$1.79M |
|
92
Lamb Weston
LW
$7.38B
| $85.8M | 0.14% |
1,201,052
+70,796
| +6% | +$4.68M |
|
|
CHX
93
DELISTED
ChampionX
CHX
| $83.7M | 0.13% |
4,215,142
-1,900
| -0% | -$42.9K |
|
94
Post Holdings
POST
$3.65B
| $69.3M | 0.11% |
841,423
-87,715
| -9% | -$6.8M |
|
95
Warner Music
WMG
$14.2B
| $52.8M | 0.08% |
2,166,956
+655,924
| +43% | +$19.6M |
|
96
Johnson Controls International
JCI
$86.7B
| $49.7M | 0.08% |
1,038,028
+15,813
| +2% | +$881K |
|
|
OPLN
97
Openlane
OPLN
$4.08B
| $43M | 0.07% |
2,910,458
+943,143
| +48% | +$14.8M |
|
98
Huntington Ingalls Industries
HII
$11.8B
| $42.1M | 0.07% |
193,372
+6,580
| +4% | +$1.39M |
|
99
Autoliv
ALV
$9.18B
| $37.5M | 0.06% |
524,020
+103,780
| +25% | +$7.76M |
|
100
Dollar Tree
DLTR
$25.3B
| $37.1M | 0.06% |
238,011
-141,089
| -37% | -$22.4M |
|
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Bill Nygren's Q2 2022 Portfolio in Review
As of Q2 2022, Bill Nygren held 145 positions worth $62.9B, down 17% from $75.9B the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Bill Nygren withdrew a net $13.8B in Q2 2022, closing 6 positions and reducing 72 holdings. Its most notable exit was DXC Technology, an estimated $220M position sold in full.
By sector, the portfolio is most concentrated in Financials at 20% of assets, up from 20% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Bill Nygren opened a new position in Masco worth $204M.
- Bill Nygren's largest Q2 2022 buy was Masco: 4,030,385 shares worth $204M.
- Bill Nygren added most to Amazon in Q2 2022, an estimated $826M increase.
- Bill Nygren's biggest Q2 2022 reduction was Humana, cutting an estimated $938M.
- Bill Nygren fully exited DXC Technology in Q2 2022, selling an estimated $220M.
- Bill Nygren's ten largest holdings make up 46% of its $62.9B portfolio in Q2 2022.
- Bill Nygren opened 4 new positions and closed 6 in Q2 2022.
- Bill Nygren's portfolio value fell 17% quarter-over-quarter to $62.9B.
Based on Harris Associates's 13F filing for Q2 2022, filed 15 Aug 2022.