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 |
Caterpillar
CAT
|
+$586M |
| 2 |
Microsoft
MSFT
|
+$573M |
| 3 |
GE Aerospace
GE
|
+$541M |
| 4 |
PCP
PRECISION CASTPARTS CORP
PCP
|
+$419M |
| 5 |
Flowserve
FLS
|
+$375M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
FedEx
FDX
|
+$638M |
| 2 |
Apple
AAPL
|
+$576M |
| 3 |
Ralph Lauren
RL
|
+$412M |
| 4 |
Home Depot
HD
|
+$385M |
| 5 |
Walmart Inc
WMT
|
+$324M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 35.65% |
| 2 | Technology | 16.74% |
| 3 | Consumer Discretionary | 14.17% |
| 4 | Industrials | 9.86% |
| 5 | Healthcare | 6.01% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
MillerKnoll
MLKN
$1.57B
| $58.4M | 0.09% |
2,103,174
-261,600
| -11% | -$7.66M |
|
102
Dillards
DDS
$9.71B
| $48M | 0.08% |
351,551
-144,834
| -29% | -$18.1M |
|
|
ORBK
103
DELISTED
Orbotech Ltd
ORBK
| $47.3M | 0.07% |
2,951,362
+224,102
| +8% | +$3.56M |
|
104
ExxonMobil
XOM
$679B
| $47M | 0.07% |
552,641
-273,214
| -33% | -$24.2M |
|
|
AAWW
105
DELISTED
Atlas Air Worldwide Holdings, Inc.
AAWW
| $41.3M | 0.07% |
959,862
-178,063
| -16% | -$8.31M |
|
106
Snap-on
SNA
$20.3B
| $38.2M | 0.06% |
259,568
-13,453
| -5% | -$1.89M |
|
107
Gaming and Leisure Properties
GLPI
$12.7B
| $37.8M | 0.06% |
1,026,016
+23,400
| +2% | +$790K |
|
|
ETFC
108
DELISTED
E*Trade Financial Corporation
ETFC
| $36.6M | 0.06% |
+1,280,804
| New | +$32.7M |
|
|
FNFV
109
DELISTED
Fidelity Natl Financial, Inc.
FNFV
| $32.2M | 0.05% |
2,285,016
-710,911
| -24% | -$9.6M |
|
|
110
Walmart Inc
WMT
$825B
| $32M | 0.05% |
1,167,531
-11,405,106
| -91% | -$324M |
|
111
Aptiv
APTV
$10B
| $30.2M | 0.05% |
378,272
-40,868
| -10% | -$3.07M |
|
|
BLT
112
DELISTED
BLOUNT INTERNATIONAL (NEW)
BLT
| $29.8M | 0.05% |
2,314,523
| – | – |
|
113
Lam Research
LRCX
$393B
| $24.7M | 0.04% |
3,510,500
-2,754,060
| -44% | -$21.8M |
|
|
CMA
114
DELISTED
Comerica
CMA
| $21.3M | 0.03% |
472,843
+16,640
| +4% | +$743K |
|
115
Southern Copper
SCCO
$182B
| $20.6M | 0.03% |
769,618
+235,091
| +44% | +$6.2M |
|
116
Globe Life
GL
$13.1B
| $18.5M | 0.03% |
336,087
-2,000
| -0.6% | -$106K |
|
117
Autoliv
ALV
$9.18B
| $12.9M | 0.02% |
152,472
-135,607
| -47% | -$10.7M |
|
|
DTV
118
DELISTED
DIRECTV COM STK (DE)
DTV
| $10.2M | 0.02% |
119,799
-226,709
| -65% | -$19.6M |
|
|
REMY
119
DELISTED
REMY INTL INC NEW COMMON
REMY
| $8.77M | 0.01% |
+395,000
| New | +$8.59M |
|
120
Berkshire Hathaway Class A
BRK.A
$1.06T
| $3.92M | 0.01% |
18
-15
| -45% | -$3.32M |
|
121
Dick's Sporting Goods
DKS
$16.4B
| $3.45M | 0.01% |
60,500
-1,300
| -2% | -$71.3K |
|
122
Walt Disney
DIS
$186B
| $3.29M | 0.01% |
31,355
-70,735
| -69% | -$7.14M |
|
|
DISCK
123
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
| $2.72M | ﹤0.01% |
92,210
-18,719
| -17% | -$566K |
|
|
124
Berkshire Hathaway Class B
BRK.B
$1.06T
| $2.3M | ﹤0.01% |
15,927
-10,992
| -41% | -$1.62M |
|
125
AbbVie
ABBV
$468B
| $2.25M | ﹤0.01% |
38,458
-3,963
| -9% | -$239K |
|
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Bill Nygren's Q1 2015 Portfolio in Review
As of Q1 2015, Bill Nygren held 191 positions worth $63.3B, down 1.7% from $64.4B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Bill Nygren's Q1 2015 filing shows 9 new, 55 increased, 88 reduced and 24 closed positions. Its largest new stake was PRECISION CASTPARTS CORP: 1,975,378 shares worth $415M. The largest sale was FedEx, an estimated $638M.
By sector, the portfolio is most concentrated in Financials at 36% of assets, up from 36% a quarter earlier, followed by Technology and Consumer Discretionary.
- Bill Nygren's largest Q1 2015 buy was PRECISION CASTPARTS CORP: 1,975,378 shares worth $415M.
- Bill Nygren added most to Caterpillar in Q1 2015, an estimated $586M increase.
- Bill Nygren's biggest Q1 2015 reduction was FedEx, cutting an estimated $638M.
- Bill Nygren fully exited FAMILY DOLLAR STORES in Q1 2015, selling an estimated $219M.
- Bill Nygren's ten largest holdings make up 34% of its $63.3B portfolio in Q1 2015.
- Bill Nygren opened 9 new positions and closed 24 in Q1 2015.
- Bill Nygren's portfolio value fell 1.7% quarter-over-quarter to $63.3B.
Based on Harris Associates's 13F filing for Q1 2015, filed 14 May 2015.