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 |
Phillips 66
PSX
|
+$597M |
| 2 |
Centene
CNC
|
+$496M |
| 3 |
CNH
CNH Industrial
CNH
|
+$418M |
| 4 |
IQVIA
IQV
|
+$379M |
| 5 |
American Express
AXP
|
+$336M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Parker-Hannifin
PH
|
+$436M |
| 2 |
KKR & Co
KKR
|
+$417M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$373M |
| 4 |
Amazon
AMZN
|
+$367M |
| 5 |
Oracle
ORCL
|
+$306M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 34.19% |
| 2 | Communication Services | 15.33% |
| 3 | Consumer Discretionary | 9.92% |
| 4 | Healthcare | 9.75% |
| 5 | Technology | 9.7% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Warner Music
WMG
$14.2B
| $106M | 0.18% |
2,964,710
-7,730
| -0.3% | -$255K |
|
77
Wendy's
WEN
$1.72B
| $96.3M | 0.17% |
4,942,216
-2,804,780
| -36% | -$54M |
|
78
Workday
WDAY
$49.4B
| $82.1M | 0.14% |
297,419
-128,317
| -30% | -$30.6M |
|
79
Mastercard
MA
$509B
| $61.9M | 0.11% |
145,161
-2,475
| -2% | -$994K |
|
|
OPLN
80
Openlane
OPLN
$4.08B
| $61.2M | 0.11% |
4,132,446
-38,805
| -0.9% | -$564K |
|
81
Phinia Inc
PHIN
$2.67B
| $60.7M | 0.1% |
2,004,545
+1,767
| +0.1% | +$47.4K |
|
82
ABM Industries
ABM
$2.74B
| $42.8M | 0.07% |
953,880
-12,170
| -1% | -$514K |
|
83
ACV Auctions
ACVA
$1.26B
| $33.6M | 0.06% |
2,218,851
-12,056
| -0.5% | -$177K |
|
84
Netflix
NFLX
$331B
| $33M | 0.06% |
678,640
-258,910
| -28% | -$11.3M |
|
|
GRFS
85
Grifois
GRFS
$5.44B
| $31.9M | 0.05% |
2,756,200
-10,200
| -0.4% | -$95K |
|
86
Autoliv
ALV
$9.18B
| $31.3M | 0.05% |
284,380
-44,235
| -13% | -$4.4M |
|
87
Cushman & Wakefield Ltd
CWK
$3.48B
| $30.2M | 0.05% |
2,791,798
+4,781
| +0.2% | +$39.8K |
|
88
Colliers International
CIGI
$5.47B
| $26.9M | 0.05% |
212,440
-10,900
| -5% | -$1.12M |
|
89
Allison Transmission
ALSN
$11B
| $26.8M | 0.05% |
460,730
-3,540
| -0.8% | -$198K |
|
90
Apple
AAPL
$4.51T
| $26.7M | 0.05% |
138,570
-9,973
| -7% | -$1.84M |
|
91
Berkshire Hathaway Class B
BRK.B
$1.06T
| $26.5M | 0.05% |
74,428
-5,258
| -7% | -$1.85M |
|
92
Gildan
GIL
$10.4B
| $23.2M | 0.04% |
702,600
-399,100
| -36% | -$12.9M |
|
|
93
Parker-Hannifin
PH
$126B
| $20.2M | 0.03% |
43,865
-1,047,374
| -96% | -$436M |
|
94
Johnson Controls International
JCI
$86.7B
| $19.9M | 0.03% |
345,248
+7,124
| +2% | +$374K |
|
95
ManpowerGroup
MAN
$2.86B
| $16.9M | 0.03% |
212,966
-20,714
| -9% | -$1.54M |
|
|
SPNS
96
DELISTED
Sapiens International
SPNS
| $13M | 0.02% |
449,200
+39,300
| +10% | +$1.05M |
|
97
Booking.com
BKNG
$158B
| $11.9M | 0.02% |
83,700
-218,550
| -72% | -$27.3M |
|
98
Ferguson
FERG
$46.9B
| $11.6M | 0.02% |
59,985
-41,815
| -41% | -$7.05M |
|
99
Texas Instruments
TXN
$241B
| $11.5M | 0.02% |
67,733
-236
| -0.3% | -$36.6K |
|
100
Crown Holdings
CCK
$13B
| $9.58M | 0.02% |
103,980
| – | – |
|
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Bill Nygren's Q4 2023 Portfolio in Review
As of Q4 2023, Bill Nygren held 148 positions worth $58B, up 13% from $51.4B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Bill Nygren's Q4 2023 filing shows 14 new, 45 increased, 73 reduced and 5 closed positions. Its largest new stake was Agilent Technologies: 2,342,383 shares worth $326M. The largest sale was Parker-Hannifin, an estimated $436M.
By sector, the portfolio is most concentrated in Financials at 34% of assets, up from 32% a quarter earlier, followed by Communication Services and Consumer Discretionary.
- Bill Nygren's largest Q4 2023 buy was Agilent Technologies: 2,342,383 shares worth $326M.
- Bill Nygren added most to Phillips 66 in Q4 2023, an estimated $597M increase.
- Bill Nygren's biggest Q4 2023 reduction was Parker-Hannifin, cutting an estimated $436M.
- Bill Nygren fully exited Pultegroup in Q4 2023, selling an estimated $145M.
- Bill Nygren's ten largest holdings make up 36% of its $58B portfolio in Q4 2023.
- Bill Nygren opened 14 new positions and closed 5 in Q4 2023.
- Bill Nygren's portfolio value rose 13% quarter-over-quarter to $58B.
Based on Harris Associates's 13F filing for Q4 2023, filed 14 Feb 2024.