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 |
Citigroup
C
|
+$501M |
| 2 |
Moody's
MCO
|
+$363M |
| 3 |
GE Aerospace
GE
|
+$292M |
| 4 |
Willis Towers Watson
WTW
|
+$216M |
| 5 |
Infosys
INFY
|
+$201M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
JPMorgan Chase
JPM
|
+$469M |
| 2 |
Cummins
CMI
|
+$221M |
| 3 |
CMA
Comerica
CMA
|
+$201M |
| 4 |
Bank of America
BAC
|
+$200M |
| 5 |
TIF
Tiffany & Co.
TIF
|
+$174M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 33.02% |
| 2 | Technology | 14.12% |
| 3 | Consumer Discretionary | 13.95% |
| 4 | Communication Services | 12.6% |
| 5 | Industrials | 9.76% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
W.W. Grainger
GWW
$61.8B
| $32.7M | 0.06% |
140,541
-60,949
| -30% | -$15M |
|
102
Adient
ADNT
$1.54B
| $31.6M | 0.06% |
434,770
+359,595
| +478% | +$23.6M |
|
103
Check Point Software Technologies
CHKP
$13.3B
| $28.9M | 0.05% |
281,275
-11,780
| -4% | -$1.15M |
|
104
C.H. Robinson
CHRW
$16.5B
| $21.3M | 0.04% |
275,225
-6,105
| -2% | -$469K |
|
|
WFT
105
DELISTED
Weatherford International plc
WFT
| $17.9M | 0.03% |
+2,694,930
| New | +$15.8M |
|
106
Cognizant
CTSH
$27.9B
| $12.8M | 0.02% |
214,995
-6,775
| -3% | -$390K |
|
107
Globe Life
GL
$13.1B
| $2.78M | 0.01% |
36,125
-52,551
| -59% | -$3.99M |
|
|
ETFC
108
DELISTED
E*Trade Financial Corporation
ETFC
| $1.74M | ﹤0.01% |
49,800
-281,190
| -85% | -$10.1M |
|
109
AGCO
AGCO
$7.48B
| $1.18M | ﹤0.01% |
19,625
-1,900
| -9% | -$117K |
|
|
CMA
110
DELISTED
Comerica
CMA
| $1.11M | ﹤0.01% |
16,205
-2,872,864
| -99% | -$201M |
|
111
Illinois Tool Works
ITW
$80.4B
| $974K | ﹤0.01% |
7,350
-116,564
| -94% | -$15.1M |
|
112
Oceaneering
OII
$5.28B
| $929K | ﹤0.01% |
34,300
+600
| +2% | +$16.4K |
|
|
CIT
113
DELISTED
CIT Group Inc.
CIT
| $852K | ﹤0.01% |
19,850
-1,900
| -9% | -$80.5K |
|
|
DATA
114
DELISTED
Tableau Software, Inc.
DATA
| $792K | ﹤0.01% |
15,975
-1,500
| -9% | -$74.2K |
|
115
Applied Materials
AMAT
$391B
| $272K | ﹤0.01% |
7,000
-429,679
| -98% | -$15.4M |
|
116
Chevron
CVX
$403B
| $268K | ﹤0.01% |
2,500
| – | – |
|
117
Broadridge
BR
$20.8B
| – | – |
-5,220
| Closed | -$346K |
|
118
Halliburton
HAL
$29.4B
| – | – |
-2,959,113
| Closed | -$160M |
|
119
Lam Research
LRCX
$393B
| – | – |
-132,000
| Closed | -$1.4M |
|
120
Northern Trust
NTRS
$33.6B
| – | – |
-2,652
| Closed | -$236K |
|
121
Reinsurance Group of America
RGA
$15.9B
| – | – |
-723,086
| Closed | -$91M |
|
122
Rockwell Automation
ROK
$48.5B
| – | – |
-957,413
| Closed | -$129M |
|
|
SCHW
123
Charles Schwab
SCHW
$194B
| – | – |
-735,895
| Closed | -$29M |
|
124
Sanofi
SNY
$110B
| – | – |
-3,231,940
| Closed | -$131M |
|
|
WBT
125
DELISTED
Welbilt, Inc.
WBT
| – | – |
-89,500
| Closed | -$1.73M |
|
Similar funds
Bill Nygren's Q1 2017 Portfolio in Review
As of Q1 2017, Bill Nygren held 126 positions worth $54.7B, up 5.5% from $51.9B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Bill Nygren's Q1 2017 filing shows 5 new, 46 increased, 64 reduced and 10 closed positions. Its largest new stake was Moody's: 3,381,743 shares worth $379M. The largest sale was JPMorgan Chase, an estimated $469M.
By sector, the portfolio is most concentrated in Financials at 33% of assets, down from 34% a quarter earlier, followed by Technology and Consumer Discretionary.
- Bill Nygren's largest Q1 2017 buy was Moody's: 3,381,743 shares worth $379M.
- Bill Nygren added most to Citigroup in Q1 2017, an estimated $501M increase.
- Bill Nygren's biggest Q1 2017 reduction was JPMorgan Chase, cutting an estimated $469M.
- Bill Nygren fully exited Halliburton in Q1 2017, selling an estimated $160M.
- Bill Nygren's ten largest holdings make up 34% of its $54.7B portfolio in Q1 2017.
- Bill Nygren opened 5 new positions and closed 10 in Q1 2017.
- Bill Nygren's portfolio value rose 5.5% quarter-over-quarter to $54.7B.
Based on Harris Associates's 13F filing for Q1 2017, filed 8 May 2017.