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 |
Oracle
ORCL
|
+$484M |
| 2 |
NOV
NOV
|
+$251M |
| 3 |
Franklin Templeton, Inc.
BEN
|
+$238M |
| 4 |
Bank of America
BAC
|
+$233M |
| 5 |
General Motors
GM
|
+$187M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Boeing
BA
|
+$436M |
| 2 |
Northrop Grumman
NOC
|
+$396M |
| 3 |
Flowserve
FLS
|
+$388M |
| 4 |
Devon Energy
DVN
|
+$222M |
| 5 |
Range Resources
RRC
|
+$205M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 24.95% |
| 2 | Technology | 17.96% |
| 3 | Consumer Discretionary | 14.68% |
| 4 | Industrials | 13.89% |
| 5 | Energy | 10.05% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Lam Research
LRCX
$393B
| $95.3M | 0.19% |
18,621,100
-74,080
| -0.4% | -$362K |
|
|
SPLS
102
DELISTED
Staples Inc
SPLS
| $88.2M | 0.17% |
6,019,658
-6,195,042
| -51% | -$97.1M |
|
103
Advance Auto Parts
AAP
$2.57B
| $83.6M | 0.16% |
1,011,208
+159,511
| +19% | +$13M |
|
104
Merck
MRK
$376B
| $80.3M | 0.16% |
1,767,210
+2,480
| +0.1% | +$113K |
|
105
MillerKnoll
MLKN
$1.57B
| $78.3M | 0.15% |
2,683,248
+672,700
| +33% | +$18.7M |
|
106
Harley-Davidson
HOG
$2.93B
| $71.6M | 0.14% |
1,114,434
+900
| +0.1% | +$53.2K |
|
|
AAWW
107
DELISTED
Atlas Air Worldwide Holdings, Inc.
AAWW
| $70.7M | 0.14% |
1,532,950
+292,500
| +24% | +$13.2M |
|
|
ORBK
108
DELISTED
Orbotech Ltd
ORBK
| $69.2M | 0.13% |
5,767,998
+69,600
| +1% | +$850K |
|
109
Leggett & Platt
LEG
$1.29B
| $67.9M | 0.13% |
2,251,194
-1,933,972
| -46% | -$59.4M |
|
|
ARRS
110
DELISTED
ARRIS International plc Ordinary Shares
ARRS
| $67.9M | 0.13% |
3,977,793
-423,206
| -10% | -$6.72M |
|
111
Comcast
CMCSA
$95.3B
| $61.4M | 0.12% |
2,723,310
-31,650
| -1% | -$689K |
|
112
Nike
NKE
$60.5B
| $48.2M | 0.09% |
1,326,432
+624
| +0% | +$20.4K |
|
113
Patterson-UTI
PTEN
$4.71B
| $37.6M | 0.07% |
1,760,400
| – | – |
|
114
Itron
ITRI
$4.38B
| $33.7M | 0.07% |
+787,442
| New | +$32.2M |
|
|
KATE
115
DELISTED
Kate Spade & Company
KATE
| $30.9M | 0.06% |
1,228,000
-425,000
| -26% | -$10.4M |
|
|
BLT
116
DELISTED
BLOUNT INTERNATIONAL (NEW)
BLT
| $27.9M | 0.05% |
2,303,023
+104,400
| +5% | +$1.28M |
|
|
DISCK
117
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
| $27.4M | 0.05% |
702,762
-525,724
| -43% | -$19.5M |
|
118
Greif
GEF
$5B
| $26.3M | 0.05% |
535,550
-5,100
| -0.9% | -$274K |
|
119
HNI Corp
HNI
$3.55B
| $19.6M | 0.04% |
540,775
-74,600
| -12% | -$2.75M |
|
120
Globe Life
GL
$13.1B
| $19M | 0.04% |
393,188
-59,628
| -13% | -$2.8M |
|
|
CMA
121
DELISTED
Comerica
CMA
| $18.8M | 0.04% |
477,150
+17,200
| +4% | +$714K |
|
|
RDC
122
DELISTED
Rowan Companies Plc
RDC
| $18.6M | 0.04% |
506,450
+461,000
| +1,014% | +$16.6M |
|
123
Walt Disney
DIS
$186B
| $17.5M | 0.03% |
271,222
-96,456
| -26% | -$6.18M |
|
124
Crane NXT
CXT
$2.89B
| $17M | 0.03% |
791,696
| – | – |
|
|
125
Boeing
BA
$169B
| $16.3M | 0.03% |
138,875
-4,047,194
| -97% | -$436M |
|
Similar funds
Bill Nygren's Q3 2013 Portfolio in Review
As of Q3 2013, Bill Nygren held 194 positions worth $51.4B, up 7.8% from $47.6B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
Bill Nygren's Q3 2013 filing shows 3 new, 69 increased, 73 reduced and 13 closed positions. Its largest new stake was Qualcomm: 2,111,925 shares worth $142M. The largest sale was Boeing, an estimated $436M.
By sector, the portfolio is most concentrated in Financials at 25% of assets, up from 23% a quarter earlier, followed by Technology and Consumer Discretionary.
- Bill Nygren's largest Q3 2013 buy was Qualcomm: 2,111,925 shares worth $142M.
- Bill Nygren added most to Oracle in Q3 2013, an estimated $484M increase.
- Bill Nygren's biggest Q3 2013 reduction was Boeing, cutting an estimated $436M.
- Bill Nygren fully exited Northrop Grumman in Q3 2013, selling an estimated $396M.
- Bill Nygren's ten largest holdings make up 31% of its $51.4B portfolio in Q3 2013.
- Bill Nygren opened 3 new positions and closed 13 in Q3 2013.
- Bill Nygren's portfolio value rose 7.8% quarter-over-quarter to $51.4B.
Based on Harris Associates's 13F filing for Q3 2013, filed 12 Nov 2013.