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 |
FISV
Fiserv Inc
FISV
|
+$467M |
| 2 |
Vipshop
VIPS
|
+$448M |
| 3 |
Humana
HUM
|
+$438M |
| 4 |
Alibaba
BABA
|
+$303M |
| 5 |
PACCAR
PCAR
|
+$128M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$258M |
| 2 |
CNH
CNH Industrial
CNH
|
+$223M |
| 3 |
Bank of America
BAC
|
+$215M |
| 4 |
HCA Healthcare
HCA
|
+$203M |
| 5 |
Cenovus Energy
CVE
|
+$197M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 23.96% |
| 2 | Communication Services | 22.64% |
| 3 | Consumer Discretionary | 12.65% |
| 4 | Technology | 10.03% |
| 5 | Healthcare | 9.69% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Apple
AAPL
$4.51T
| $33.3M | 0.05% |
235,505
-45,455
| -16% | -$6.69M |
|
102
Equifax
EFX
$22.6B
| $29.5M | 0.05% |
116,299
-74,220
| -39% | -$19.3M |
|
103
Dollar Tree
DLTR
$25.3B
| $29.2M | 0.05% |
+305,390
| New | +$29.4M |
|
104
Texas Instruments
TXN
$241B
| $27.6M | 0.04% |
143,432
-44,820
| -24% | -$8.54M |
|
105
Gaming and Leisure Properties
GLPI
$12.7B
| $26.6M | 0.04% |
574,167
-85,229
| -13% | -$4.07M |
|
106
Chubb
CB
$132B
| $23.4M | 0.04% |
134,718
-169
| -0.1% | -$29.6K |
|
107
Aramark
ARMK
$15.8B
| $20.7M | 0.03% |
873,352
+67,443
| +8% | +$1.67M |
|
108
Gildan
GIL
$10.4B
| $20.1M | 0.03% |
551,300
-62,900
| -10% | -$2.31M |
|
109
Huntington Ingalls Industries
HII
$11.8B
| $20M | 0.03% |
103,677
+29,205
| +39% | +$5.91M |
|
110
Herc Holdings
HRI
$5.41B
| $19.8M | 0.03% |
120,921
-468,287
| -79% | -$59.3M |
|
111
Warner Music
WMG
$14.2B
| $16.4M | 0.03% |
+382,655
| New | +$14.5M |
|
112
Qorvo
QRVO
$8.43B
| $15.3M | 0.02% |
91,804
-1,872
| -2% | -$348K |
|
113
Diageo
DEO
$52.6B
| $13.2M | 0.02% |
68,369
-100,847
| -60% | -$19.5M |
|
114
Reynolds Consumer Products
REYN
$5.37B
| $12.3M | 0.02% |
450,590
+395,630
| +720% | +$11.3M |
|
115
Euronet Worldwide
EEFT
$2.62B
| $11.6M | 0.02% |
91,135
-3,300
| -3% | -$438K |
|
116
Liberty Global Class C
LBTYK
$3.55B
| $8.97M | 0.01% |
304,454
-4,770,585
| -94% | -$132M |
|
117
UnitedHealth
UNH
$350B
| $8.23M | 0.01% |
21,063
-3,105
| -13% | -$1.29M |
|
118
Dover
DOV
$27.2B
| $7.8M | 0.01% |
50,158
-23,845
| -32% | -$3.95M |
|
|
LBRDA
119
DELISTED
Liberty Broadband Class A
LBRDA
| $6.86M | 0.01% |
40,728
+210
| +0.5% | +$36.7K |
|
120
Caterpillar
CAT
$381B
| $5.71M | 0.01% |
29,740
-55,388
| -65% | -$11.5M |
|
121
Pinterest
PINS
$13.3B
| $4.91M | 0.01% |
96,447
-4,872
| -5% | -$299K |
|
122
Aon
AON
$75.3B
| $4.17M | 0.01% |
14,584
-924
| -6% | -$248K |
|
123
WEX
WEX
$6.81B
| $3.02M | ﹤0.01% |
17,176
-325
| -2% | -$59.2K |
|
124
Wabtec
WAB
$50.3B
| $2.85M | ﹤0.01% |
33,020
-22,688
| -41% | -$1.95M |
|
125
Willis Towers Watson
WTW
$31.8B
| $2.38M | ﹤0.01% |
10,245
+6,956
| +211% | +$1.55M |
|
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Bill Nygren's Q3 2021 Portfolio in Review
As of Q3 2021, Bill Nygren held 144 positions worth $62.8B, down 0.04% from $62.8B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Bill Nygren's Q3 2021 filing shows 8 new, 52 increased, 73 reduced and 7 closed positions. Its largest new stake was Vipshop: 28,525,800 shares worth $318M. The largest sale was Alphabet (Google) Class A, an estimated $258M.
By sector, the portfolio is most concentrated in Financials at 24% of assets, down from 24% a quarter earlier, followed by Communication Services and Consumer Discretionary.
- Bill Nygren's largest Q3 2021 buy was Vipshop: 28,525,800 shares worth $318M.
- Bill Nygren added most to Fiserv Inc in Q3 2021, an estimated $467M increase.
- Bill Nygren's biggest Q3 2021 reduction was Alphabet (Google) Class A, cutting an estimated $258M.
- Bill Nygren fully exited Controladora Vuela Compania de Aviacion in Q3 2021, selling an estimated $22.4M.
- Bill Nygren's ten largest holdings make up 36% of its $62.8B portfolio in Q3 2021.
- Bill Nygren opened 8 new positions and closed 7 in Q3 2021.
- Bill Nygren's portfolio value fell 0.04% quarter-over-quarter to $62.8B.
Based on Harris Associates's 13F filing for Q3 2021, filed 15 Nov 2021.