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 |
Oracle
ORCL
|
+$484M |
| 2 |
NOV
NOV
|
+$251M |
| 3 |
Franklin Templeton, Inc.
BEN
|
+$238M |
| 4 |
Bank of America
BAC
|
+$233M |
| 5 |
General Motors
GM
|
+$187M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Boeing
BA
|
+$436M |
| 2 |
Northrop Grumman
NOC
|
+$396M |
| 3 |
Flowserve
FLS
|
+$388M |
| 4 |
Devon Energy
DVN
|
+$222M |
| 5 |
Range Resources
RRC
|
+$205M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 24.95% |
| 2 | Technology | 17.96% |
| 3 | Consumer Discretionary | 14.68% |
| 4 | Industrials | 13.89% |
| 5 | Energy | 10.05% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
CNO Financial Group
CNO
$4.95B
| $14.3M | 0.03% |
990,000
-127,500
| -11% | -$1.82M |
|
127
Emerson Electric
EMR
$87.7B
| $14M | 0.03% |
215,750
| – | – |
|
128
Manitowoc
MTW
$710M
| $13.7M | 0.03% |
+770,564
| New | +$14M |
|
|
MCRS
129
DELISTED
MICROS SYSTEMS INC
MCRS
| $13.1M | 0.03% |
263,050
+235,550
| +857% | +$11.4M |
|
130
Berkshire Hathaway Class A
BRK.A
$1.06T
| $9.2M | 0.02% |
54
| – | – |
|
131
Warner Bros
WBD
$71.6B
| $4.05M | 0.01% |
93,826
-56,446
| -38% | -$2.35M |
|
|
132
Berkshire Hathaway Class B
BRK.B
$1.06T
| $2.63M | 0.01% |
23,218
-1,000
| -4% | -$115K |
|
133
IBM
IBM
$222B
| $2.57M | 0.01% |
14,514
| – | – |
|
134
Dick's Sporting Goods
DKS
$16.4B
| $2.23M | ﹤0.01% |
41,700
+23,000
| +123% | +$1.16M |
|
135
AbbVie
ABBV
$468B
| $2.06M | ﹤0.01% |
46,056
+497
| +1% | +$22K |
|
136
Capital Southwest
CSWC
$1.59B
| $1.95M | ﹤0.01% |
155,072
| – | – |
|
137
GE Aerospace
GE
$361B
| $1.86M | ﹤0.01% |
16,266
+120
| +0.7% | +$13.8K |
|
138
Coca-Cola
KO
$392B
| $1.79M | ﹤0.01% |
47,140
| – | – |
|
139
Starbucks
SBUX
$122B
| $1.66M | ﹤0.01% |
43,200
| – | – |
|
140
Johnson & Johnson
JNJ
$651B
| $1.62M | ﹤0.01% |
18,698
| – | – |
|
|
ESL
141
DELISTED
Esterline Technologies
ESL
| $1.52M | ﹤0.01% |
19,050
-850
| -4% | -$68.2K |
|
142
Abbott
ABT
$202B
| $1.47M | ﹤0.01% |
44,178
-2,516
| -5% | -$88.3K |
|
143
Bristol-Myers Squibb
BMY
$137B
| $1.39M | ﹤0.01% |
30,024
-4,701
| -14% | -$206K |
|
|
UTIW
144
DELISTED
UTI WORLDWIDE INC
UTIW
| $1.35M | ﹤0.01% |
89,350
-2,450
| -3% | -$39.7K |
|
|
HUB.B
145
DELISTED
HUBBELL INC CL-B
HUB.B
| $1.25M | ﹤0.01% |
11,920
| – | – |
|
146
Pfizer
PFE
$160B
| $1.21M | ﹤0.01% |
44,497
-843
| -2% | -$22.9K |
|
|
WBA
147
DELISTED
Walgreens Boots Alliance
WBA
| $1.09M | ﹤0.01% |
20,300
| – | – |
|
148
Thermo Fisher Scientific
TMO
$233B
| $1.08M | ﹤0.01% |
11,698
| – | – |
|
|
WMS
149
DELISTED
WMS INDS INC
WMS
| $1.04M | ﹤0.01% |
40,200
-104,200
| -72% | -$2.68M |
|
150
Toyota
TM
$234B
| $832K | ﹤0.01% |
6,500
-110,217
| -94% | -$14M |
|
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Bill Nygren's Q3 2013 Portfolio in Review
As of Q3 2013, Bill Nygren held 194 positions worth $51.4B, up 7.8% from $47.6B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
Bill Nygren's Q3 2013 filing shows 3 new, 69 increased, 73 reduced and 13 closed positions. Its largest new stake was Qualcomm: 2,111,925 shares worth $142M. The largest sale was Boeing, an estimated $436M.
By sector, the portfolio is most concentrated in Financials at 25% of assets, up from 23% a quarter earlier, followed by Technology and Consumer Discretionary.
- Bill Nygren's largest Q3 2013 buy was Qualcomm: 2,111,925 shares worth $142M.
- Bill Nygren added most to Oracle in Q3 2013, an estimated $484M increase.
- Bill Nygren's biggest Q3 2013 reduction was Boeing, cutting an estimated $436M.
- Bill Nygren fully exited Northrop Grumman in Q3 2013, selling an estimated $396M.
- Bill Nygren's ten largest holdings make up 31% of its $51.4B portfolio in Q3 2013.
- Bill Nygren opened 3 new positions and closed 13 in Q3 2013.
- Bill Nygren's portfolio value rose 7.8% quarter-over-quarter to $51.4B.
Based on Harris Associates's 13F filing for Q3 2013, filed 12 Nov 2013.