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 |
Phillips 66
PSX
|
+$597M |
| 2 |
Centene
CNC
|
+$496M |
| 3 |
CNH
CNH Industrial
CNH
|
+$418M |
| 4 |
IQVIA
IQV
|
+$379M |
| 5 |
American Express
AXP
|
+$336M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Parker-Hannifin
PH
|
+$436M |
| 2 |
KKR & Co
KKR
|
+$417M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$373M |
| 4 |
Amazon
AMZN
|
+$367M |
| 5 |
Oracle
ORCL
|
+$306M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 34.19% |
| 2 | Communication Services | 15.33% |
| 3 | Consumer Discretionary | 9.92% |
| 4 | Healthcare | 9.75% |
| 5 | Technology | 9.7% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $8.99M | 0.02% |
18,917
+17,901
| +1,762% | +$7.97M |
|
102
Vail Resorts
MTN
$5.45B
| $3.88M | 0.01% |
18,180
+4,840
| +36% | +$1.06M |
|
103
Dover
DOV
$27.2B
| $3.84M | 0.01% |
24,967
-1,200
| -5% | -$168K |
|
104
Pinterest
PINS
$13.3B
| $3.81M | 0.01% |
102,803
-6,409,350
| -98% | -$201M |
|
|
LBRDA
105
DELISTED
Liberty Broadband Class A
LBRDA
| $3.26M | 0.01% |
40,475
-500
| -1% | -$41.9K |
|
106
MasterBrand
MBC
$1.85B
| $3.21M | 0.01% |
216,327
-5,913
| -3% | -$75.8K |
|
107
Diageo
DEO
$52.6B
| $2.71M | ﹤0.01% |
18,628
-325
| -2% | -$48K |
|
108
Automatic Data Processing
ADP
$112B
| $2.42M | ﹤0.01% |
10,399
+2,169
| +26% | +$505K |
|
109
Herc Holdings
HRI
$5.41B
| $1.58M | ﹤0.01% |
10,590
| – | – |
|
110
S&P Global
SPGI
$127B
| $1.39M | ﹤0.01% |
3,150
-1,445
| -31% | -$570K |
|
111
Flowserve
FLS
$10.1B
| $1.25M | ﹤0.01% |
30,231
-600,547
| -95% | -$23.1M |
|
112
Gartner
IT
$12.4B
| $1.22M | ﹤0.01% |
2,715
-1,311
| -33% | -$524K |
|
113
Nasdaq
NDAQ
$54.9B
| $1.22M | ﹤0.01% |
20,915
-4,307
| -17% | -$227K |
|
114
Citizens Financial Group
CFG
$29.4B
| $1.02M | ﹤0.01% |
30,870
-1,205
| -4% | -$33.2K |
|
115
Gaming and Leisure Properties
GLPI
$12.7B
| $1.01M | ﹤0.01% |
20,517
| – | – |
|
116
Cummins
CMI
$80.9B
| $910K | ﹤0.01% |
3,797
| – | – |
|
117
JPMorgan Chase
JPM
$935B
| $880K | ﹤0.01% |
5,175
| – | – |
|
118
Chevron
CVX
$403B
| $838K | ﹤0.01% |
5,616
| – | – |
|
119
Microsoft
MSFT
$3.59T
| $792K | ﹤0.01% |
2,105
+280
| +15% | +$99.7K |
|
120
iShares iBonds Dec 2026 Term Corporate ETF
IBDR
$3.36B
| $757K | ﹤0.01% |
+31,655
| New | +$743K |
|
|
FITB
121
Fifth Third Bancorp
FITB
$49.7B
| $744K | ﹤0.01% |
21,565
-830
| -4% | -$23K |
|
122
UnitedHealth
UNH
$350B
| $700K | ﹤0.01% |
1,330
-250
| -16% | -$133K |
|
123
Philip Morris
PM
$293B
| $639K | ﹤0.01% |
6,797
-1,325
| -16% | -$122K |
|
|
CHX
124
DELISTED
ChampionX
CHX
| $605K | ﹤0.01% |
20,700
| – | – |
|
125
Berkshire Hathaway Class A
BRK.A
$1.06T
| $543K | ﹤0.01% |
1
| – | – |
|
Similar funds
Bill Nygren's Q4 2023 Portfolio in Review
As of Q4 2023, Bill Nygren held 148 positions worth $58B, up 13% from $51.4B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Bill Nygren's Q4 2023 filing shows 14 new, 45 increased, 73 reduced and 5 closed positions. Its largest new stake was Agilent Technologies: 2,342,383 shares worth $326M. The largest sale was Parker-Hannifin, an estimated $436M.
By sector, the portfolio is most concentrated in Financials at 34% of assets, up from 32% a quarter earlier, followed by Communication Services and Consumer Discretionary.
- Bill Nygren's largest Q4 2023 buy was Agilent Technologies: 2,342,383 shares worth $326M.
- Bill Nygren added most to Phillips 66 in Q4 2023, an estimated $597M increase.
- Bill Nygren's biggest Q4 2023 reduction was Parker-Hannifin, cutting an estimated $436M.
- Bill Nygren fully exited Pultegroup in Q4 2023, selling an estimated $145M.
- Bill Nygren's ten largest holdings make up 36% of its $58B portfolio in Q4 2023.
- Bill Nygren opened 14 new positions and closed 5 in Q4 2023.
- Bill Nygren's portfolio value rose 13% quarter-over-quarter to $58B.
Based on Harris Associates's 13F filing for Q4 2023, filed 14 Feb 2024.