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 | |
|---|---|---|---|---|---|---|
76
Lear
LEA
$8.56B
| $112M | 0.22% |
831,979
-552,145
| -40% | -$79.9M |
|
77
CALL
Warner Bros
WBD
$71.6B
| $109M | 0.21% |
+10,000,000
| New | +$125M |
|
78
Warner Music
WMG
$14.2B
| $93.3M | 0.18% |
2,972,440
-260,690
| -8% | -$8.17M |
|
79
Vipshop
VIPS
$6.98B
| $92.1M | 0.18% |
5,749,901
-2,984,268
| -34% | -$48.5M |
|
|
80
Workday
WDAY
$49.4B
| $91.5M | 0.18% |
425,736
-1,648,277
| -79% | -$382M |
|
81
Brunswick
BC
$5.24B
| $85.9M | 0.17% |
+1,087,396
| New | +$89.6M |
|
|
OPLN
82
Openlane
OPLN
$4.08B
| $62.2M | 0.12% |
4,171,251
+20,954
| +0.5% | +$322K |
|
83
Mastercard
MA
$509B
| $58.5M | 0.11% |
147,636
-6,769
| -4% | -$2.72M |
|
84
Phinia Inc
PHIN
$2.67B
| $53.7M | 0.1% |
+2,002,778
| New | +$55.5M |
|
85
ABM Industries
ABM
$2.74B
| $38.7M | 0.08% |
966,050
+49,200
| +5% | +$2.13M |
|
86
Booking.com
BKNG
$158B
| $37.3M | 0.07% |
302,250
-2,268,775
| -88% | -$275M |
|
87
Netflix
NFLX
$331B
| $35.4M | 0.07% |
937,550
-1,704,180
| -65% | -$72.2M |
|
88
ACV Auctions
ACVA
$1.26B
| $33.9M | 0.07% |
2,230,907
-8,501
| -0.4% | -$138K |
|
89
Autoliv
ALV
$9.18B
| $31.7M | 0.06% |
328,615
-75,785
| -19% | -$7.26M |
|
90
Gildan
GIL
$10.4B
| $30.9M | 0.06% |
1,101,700
+28,800
| +3% | +$864K |
|
91
Berkshire Hathaway Class B
BRK.B
$1.06T
| $27.9M | 0.05% |
79,686
-352,291
| -82% | -$125M |
|
92
Allison Transmission
ALSN
$11B
| $27.4M | 0.05% |
464,270
-50,146
| -10% | -$2.95M |
|
93
Apple
AAPL
$4.51T
| $25.4M | 0.05% |
148,543
-4,769
| -3% | -$875K |
|
|
GRFS
94
Grifois
GRFS
$5.44B
| $25.3M | 0.05% |
2,766,400
-3,300
| -0.1% | -$32.2K |
|
95
Flowserve
FLS
$10.1B
| $25.1M | 0.05% |
630,778
-2,797,597
| -82% | -$108M |
|
96
Colliers International
CIGI
$5.47B
| $21.3M | 0.04% |
223,340
-27,800
| -11% | -$2.99M |
|
97
Cushman & Wakefield Ltd
CWK
$3.48B
| $21.2M | 0.04% |
2,787,017
-1,201,781
| -30% | -$10.9M |
|
98
Johnson Controls International
JCI
$86.7B
| $18M | 0.04% |
338,124
-5,000
| -1% | -$309K |
|
99
NOV
NOV
$7.28B
| $17.5M | 0.03% |
838,300
-50,629
| -6% | -$1.01M |
|
100
ManpowerGroup
MAN
$2.86B
| $17.1M | 0.03% |
233,680
-698,190
| -75% | -$54.3M |
|
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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.