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 |
LNKD
LinkedIn Corporation
LNKD
|
+$374M |
| 2 |
Harley-Davidson
HOG
|
+$226M |
| 3 |
IQVIA
IQV
|
+$222M |
| 4 |
CarMax
KMX
|
+$149M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$142M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Intel
INTC
|
+$594M |
| 2 |
Applied Materials
AMAT
|
+$333M |
| 3 |
MON
Monsanto Co
MON
|
+$325M |
| 4 |
APC
Anadarko Petroleum
APC
|
+$281M |
| 5 |
GE Aerospace
GE
|
+$235M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 33.87% |
| 2 | Technology | 15.15% |
| 3 | Industrials | 12.16% |
| 4 | Consumer Discretionary | 12.15% |
| 5 | Communication Services | 12% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Manitowoc
MTW
$710M
| $36M | 0.07% |
1,653,506
-1,050
| -0.1% | -$22.8K |
|
|
ETFC
102
DELISTED
E*Trade Financial Corporation
ETFC
| $35.7M | 0.07% |
1,520,505
+136,875
| +10% | +$3.47M |
|
103
C.H. Robinson
CHRW
$16.5B
| $26.8M | 0.05% |
+360,735
| New | +$26.4M |
|
104
Illinois Tool Works
ITW
$80.4B
| $26.1M | 0.05% |
250,955
-401,541
| -62% | -$42M |
|
|
SCHW
105
Charles Schwab
SCHW
$194B
| $24.8M | 0.05% |
978,800
-269
| -0% | -$7.64K |
|
106
Cognizant
CTSH
$27.9B
| $24.1M | 0.05% |
+421,030
| New | +$25.4M |
|
107
MGM Resorts International
MGM
$11B
| $22.6M | 0.05% |
999,100
+317,100
| +46% | +$7.21M |
|
108
Lam Research
LRCX
$393B
| $13.7M | 0.03% |
1,633,480
-890
| -0.1% | -$7.15K |
|
|
CHK
109
DELISTED
Chesapeake Energy Corporation
CHK
| $12.9M | 0.03% |
15,050
-18,189
| -55% | -$17.5M |
|
|
VWR
110
DELISTED
VWR Corporation
VWR
| $11.7M | 0.02% |
403,900
+327,700
| +430% | +$9.19M |
|
111
Broadridge
BR
$20.8B
| $10.8M | 0.02% |
165,024
-366,478
| -69% | -$22.7M |
|
112
Globe Life
GL
$13.1B
| $7.42M | 0.01% |
119,951
-5,075
| -4% | -$296K |
|
113
Oceaneering
OII
$5.28B
| $2.27M | ﹤0.01% |
75,900
-300
| -0.4% | -$9.79K |
|
|
CPN
114
DELISTED
Calpine Corporation
CPN
| $1.22M | ﹤0.01% |
82,500
-14,617,523
| -99% | -$217M |
|
115
AGCO
AGCO
$7.48B
| $1.12M | ﹤0.01% |
23,675
+50
| +0.2% | +$2.57K |
|
116
AT&T
T
$173B
| $974K | ﹤0.01% |
29,855
-27,531
| -48% | -$819K |
|
|
CIT
117
DELISTED
CIT Group Inc.
CIT
| $754K | ﹤0.01% |
23,625
-1,700
| -7% | -$55.2K |
|
118
Dick's Sporting Goods
DKS
$16.4B
| $671K | ﹤0.01% |
14,900
-2,400
| -14% | -$105K |
|
119
Amazon
AMZN
$2.79T
| – | – |
-146,320
| Closed | -$4.34M |
|
120
American Express
AXP
$227B
| – | – |
-79,205
| Closed | -$4.86M |
|
121
Franklin Templeton, Inc.
BEN
$17.4B
| – | – |
-5,413,216
| Closed | -$211M |
|
122
Bruker
BRKR
$9.07B
| – | – |
-596,500
| Closed | -$16.7M |
|
123
Centene
CNC
$32.1B
| – | – |
-3,989,808
| Closed | -$123M |
|
124
Dillards
DDS
$9.71B
| – | – |
-376,657
| Closed | -$32M |
|
125
Signet Jewelers
SIG
$3.16B
| – | – |
-34
| Closed | -$266K |
|
Similar funds
Bill Nygren's Q2 2016 Portfolio in Review
As of Q2 2016, Bill Nygren held 127 positions worth $49.6B, down 6.6% from $53.1B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Bill Nygren withdrew a net $3.08B in Q2 2016, closing 9 positions and reducing 77 holdings. Its most notable exit was Franklin Templeton, Inc., an estimated $211M position sold in full.
By sector, the portfolio is most concentrated in Financials at 34% of assets, down from 34% a quarter earlier, followed by Technology and Industrials.
Against the trend, Bill Nygren opened a new position in LinkedIn Corporation worth $511M.
- Bill Nygren's largest Q2 2016 buy was LinkedIn Corporation: 2,700,650 shares worth $511M.
- Bill Nygren added most to Harley-Davidson in Q2 2016, an estimated $226M increase.
- Bill Nygren's biggest Q2 2016 reduction was Intel, cutting an estimated $594M.
- Bill Nygren fully exited Franklin Templeton, Inc. in Q2 2016, selling an estimated $211M.
- Bill Nygren's ten largest holdings make up 32% of its $49.6B portfolio in Q2 2016.
- Bill Nygren opened 4 new positions and closed 9 in Q2 2016.
- Bill Nygren's portfolio value fell 6.6% quarter-over-quarter to $49.6B.
Based on Harris Associates's 13F filing for Q2 2016, filed 10 Aug 2016.