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 |
MON
Monsanto Co
MON
|
+$400M |
| 2 |
Stellantis
STLA
|
+$381M |
| 3 |
Caterpillar
CAT
|
+$295M |
| 4 |
American Express
AXP
|
+$252M |
| 5 |
GE Aerospace
GE
|
+$249M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Amazon
AMZN
|
+$359M |
| 2 |
Illinois Tool Works
ITW
|
+$324M |
| 3 |
Franklin Templeton, Inc.
BEN
|
+$317M |
| 4 |
Medtronic
MDT
|
+$302M |
| 5 |
Mastercard
MA
|
+$295M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 37.41% |
| 2 | Technology | 15.99% |
| 3 | Consumer Discretionary | 13.88% |
| 4 | Industrials | 10.42% |
| 5 | Energy | 5.53% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
CAB
101
DELISTED
Cabela's Inc
CAB
| $59.8M | 0.1% |
1,197,378
+11,104
| +0.9% | +$587K |
|
|
KATE
102
DELISTED
Kate Spade & Company
KATE
| $51.5M | 0.08% |
+2,390,800
| New | +$69.2M |
|
|
ORBK
103
DELISTED
Orbotech Ltd
ORBK
| $48.3M | 0.08% |
2,323,162
-628,200
| -21% | -$12.1M |
|
|
ETFC
104
DELISTED
E*Trade Financial Corporation
ETFC
| $38.1M | 0.06% |
1,271,651
-9,153
| -0.7% | -$269K |
|
105
Gaming and Leisure Properties
GLPI
$12.7B
| $37.4M | 0.06% |
1,021,115
-4,901
| -0.5% | -$180K |
|
106
Dillards
DDS
$9.71B
| $36.8M | 0.06% |
349,460
-2,091
| -0.6% | -$257K |
|
107
Lam Research
LRCX
$393B
| $28.5M | 0.05% |
3,501,650
-8,850
| -0.3% | -$69.5K |
|
|
BLT
108
DELISTED
BLOUNT INTERNATIONAL (NEW)
BLT
| $25.3M | 0.04% |
2,314,523
| – | – |
|
|
CMA
109
DELISTED
Comerica
CMA
| $24.2M | 0.04% |
471,176
-1,667
| -0.4% | -$81.2K |
|
110
Southern Copper
SCCO
$182B
| $20.7M | 0.03% |
769,618
| – | – |
|
111
Globe Life
GL
$13.1B
| $19.3M | 0.03% |
331,887
-4,200
| -1% | -$240K |
|
112
Manitowoc
MTW
$710M
| $18.6M | 0.03% |
+1,049,269
| New | +$19.1M |
|
113
Snap-on
SNA
$20.3B
| $11.9M | 0.02% |
74,995
-184,573
| -71% | -$28.5M |
|
|
REMY
114
DELISTED
REMY INTL INC NEW COMMON
REMY
| $8.73M | 0.01% |
395,000
| – | – |
|
115
Home Depot
HD
$335B
| $6.6M | 0.01% |
59,412
-826,640
| -93% | -$92.6M |
|
|
HOT
116
DELISTED
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
| $4.31M | 0.01% |
53,119
-3,507,090
| -99% | -$293M |
|
|
AAWW
117
DELISTED
Atlas Air Worldwide Holdings, Inc.
AAWW
| $3.02M | ﹤0.01% |
55,000
-904,862
| -94% | -$46.8M |
|
118
Dick's Sporting Goods
DKS
$16.4B
| $2.99M | ﹤0.01% |
57,750
-2,750
| -5% | -$151K |
|
|
DTV
119
DELISTED
DIRECTV COM STK (DE)
DTV
| $2.67M | ﹤0.01% |
28,780
-91,019
| -76% | -$8.23M |
|
120
Aptiv
APTV
$10B
| $2.66M | ﹤0.01% |
31,300
-346,972
| -92% | -$29.7M |
|
121
ExxonMobil
XOM
$679B
| $2.36M | ﹤0.01% |
28,358
-524,283
| -95% | -$45.1M |
|
|
DISCK
122
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
| $1.89M | ﹤0.01% |
60,692
-31,518
| -34% | -$976K |
|
123
AGCO
AGCO
$7.48B
| $1.6M | ﹤0.01% |
28,250
-1,600
| -5% | -$81.2K |
|
124
Oshkosh
OSK
$9.7B
| $1.45M | ﹤0.01% |
34,250
-1,500
| -4% | -$75.2K |
|
125
Johnson & Johnson
JNJ
$651B
| $1.38M | ﹤0.01% |
14,134
-3,244
| -19% | -$325K |
|
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Bill Nygren's Q2 2015 Portfolio in Review
As of Q2 2015, Bill Nygren held 172 positions worth $62.6B, down 1.1% from $63.3B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Bill Nygren's Q2 2015 filing shows 5 new, 37 increased, 88 reduced and 34 closed positions. Its largest new stake was Stellantis: 37,186,789 shares worth $352M. The largest sale was Amazon, an estimated $359M.
By sector, the portfolio is most concentrated in Financials at 37% of assets, up from 36% a quarter earlier, followed by Technology and Consumer Discretionary.
- Bill Nygren's largest Q2 2015 buy was Stellantis: 37,186,789 shares worth $352M.
- Bill Nygren added most to Monsanto Co in Q2 2015, an estimated $400M increase.
- Bill Nygren's biggest Q2 2015 reduction was Amazon, cutting an estimated $359M.
- Bill Nygren fully exited Ralph Lauren in Q2 2015, selling an estimated $109M.
- Bill Nygren's ten largest holdings make up 34% of its $62.6B portfolio in Q2 2015.
- Bill Nygren opened 5 new positions and closed 34 in Q2 2015.
- Bill Nygren's portfolio value fell 1.1% quarter-over-quarter to $62.6B.
Based on Harris Associates's 13F filing for Q2 2015, filed 11 Aug 2015.