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 |
ConocoPhillips
COP
|
+$482M |
| 2 |
Amazon
AMZN
|
+$343M |
| 3 |
Bank of America
BAC
|
+$291M |
| 4 |
Capital One
COF
|
+$286M |
| 5 |
Intercontinental Exchange
ICE
|
+$281M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Booking.com
BKNG
|
+$636M |
| 2 |
HCA Healthcare
HCA
|
+$440M |
| 3 |
Netflix
NFLX
|
+$374M |
| 4 |
FISV
Fiserv Inc
FISV
|
+$231M |
| 5 |
TE Connectivity
TEL
|
+$195M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 27.17% |
| 2 | Communication Services | 20.7% |
| 3 | Technology | 15.31% |
| 4 | Consumer Discretionary | 15.22% |
| 5 | Industrials | 10.33% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Lamb Weston
LW
$7.38B
| $18.3M | 0.04% |
175,045
-48,755
| -22% | -$4.82M |
|
102
Keurig Dr Pepper
KDP
$43.6B
| $15.9M | 0.03% |
450,740
-2,725,277
| -86% | -$95.8M |
|
103
Texas Instruments
TXN
$241B
| $15.4M | 0.03% |
82,846
-5,355
| -6% | -$942K |
|
104
Reynolds Consumer Products
REYN
$5.37B
| $12.7M | 0.02% |
462,972
-202,713
| -30% | -$5.73M |
|
105
Constellation Brands
STZ
$23.2B
| $8.15M | 0.02% |
36,082
-15,712
| -30% | -$3.5M |
|
106
Automatic Data Processing
ADP
$112B
| $6.81M | 0.01% |
30,590
-7,517
| -20% | -$1.7M |
|
107
Colliers International
CIGI
$5.47B
| $6.26M | 0.01% |
+59,300
| New | +$6.35M |
|
108
Crown Holdings
CCK
$13B
| $6.2M | 0.01% |
+75,015
| New | +$6.35M |
|
109
Euronet Worldwide
EEFT
$2.62B
| $5.08M | 0.01% |
45,396
-7,127
| -14% | -$771K |
|
110
T-Mobile US
TMUS
$196B
| $5.06M | 0.01% |
34,923
-92,641
| -73% | -$13.4M |
|
111
Dover
DOV
$27.2B
| $5M | 0.01% |
32,896
-1,739
| -5% | -$255K |
|
112
Diageo
DEO
$52.6B
| $3.63M | 0.01% |
20,053
-5,745
| -22% | -$1.01M |
|
113
Howmet Aerospace
HWM
$108B
| $3.12M | 0.01% |
73,519
-1,324,002
| -95% | -$54.3M |
|
114
Gaming and Leisure Properties
GLPI
$12.7B
| $3.07M | 0.01% |
58,875
-180,906
| -75% | -$9.44M |
|
115
Gartner
IT
$12.4B
| $2.69M | 0.01% |
8,271
-345,262
| -98% | -$114M |
|
116
Herc Holdings
HRI
$5.41B
| $2.64M | 0.01% |
23,211
-4,480
| -16% | -$618K |
|
117
Post Holdings
POST
$3.65B
| $2.47M | ﹤0.01% |
27,467
-81,991
| -75% | -$7.46M |
|
118
Vail Resorts
MTN
$5.45B
| $2.17M | ﹤0.01% |
+9,295
| New | +$2.24M |
|
119
Cummins
CMI
$80.9B
| $2.04M | ﹤0.01% |
8,542
-238,839
| -97% | -$58.3M |
|
120
Nasdaq
NDAQ
$54.9B
| $1.93M | ﹤0.01% |
35,308
-3,983
| -10% | -$230K |
|
121
S&P Global
SPGI
$127B
| $1.86M | ﹤0.01% |
5,395
-1,397
| -21% | -$492K |
|
122
Regeneron Pharmaceuticals
REGN
$85.9B
| $1.55M | ﹤0.01% |
1,886
-87,753
| -98% | -$66.2M |
|
123
General Dynamics
GD
$104B
| $1.5M | ﹤0.01% |
6,590
-37,190
| -85% | -$8.59M |
|
|
LBRDA
124
DELISTED
Liberty Broadband Class A
LBRDA
| $1.39M | ﹤0.01% |
16,939
+6,300
| +59% | +$544K |
|
125
Timken Company
TKR
$8.67B
| $1.21M | ﹤0.01% |
14,790
-29,025
| -66% | -$2.35M |
|
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Bill Nygren's Q1 2023 Portfolio in Review
As of Q1 2023, Bill Nygren held 158 positions worth $51.5B, up 4.9% from $49.1B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Bill Nygren's Q1 2023 filing shows 15 new, 49 increased, 83 reduced and 9 closed positions. Its largest new stake was Truist Financial: 5,620,804 shares worth $192M. The largest sale was Booking.com, an estimated $636M.
By sector, the portfolio is most concentrated in Financials at 27% of assets, down from 28% a quarter earlier, followed by Communication Services and Technology.
- Bill Nygren's largest Q1 2023 buy was Truist Financial: 5,620,804 shares worth $192M.
- Bill Nygren added most to ConocoPhillips in Q1 2023, an estimated $482M increase.
- Bill Nygren's biggest Q1 2023 reduction was Booking.com, cutting an estimated $636M.
- Bill Nygren fully exited Philips in Q1 2023, selling an estimated $186M.
- Bill Nygren's ten largest holdings make up 36% of its $51.5B portfolio in Q1 2023.
- Bill Nygren opened 15 new positions and closed 9 in Q1 2023.
- Bill Nygren's portfolio value rose 4.9% quarter-over-quarter to $51.5B.
Based on Harris Associates's 13F filing for Q1 2023, filed 15 May 2023.