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Bill Nygren Harris Associates

AUM $75.4B
1-Year Est. Return 14.46%
 

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.

This Fund
S&P 500
This Quarter Est. Return
-17.31%
1 Year Est. Return
+14.46%
3 Year Est. Return
+51.56%
5 Year Est. Return
+71.24%
10 Year Est. Return
+347.3%
AUM
$49.6B
AUM Growth
-$14.1B
Cap. Flow
-$2.92B
Cap. Flow %
-5.89%
Top 10 Hldgs %
34.29%
Holding
130
New
7
Increased
40
Reduced
73
Closed
5

Top Buys

Rank Stock Value
1
NFLX icon
Netflix
NFLX
+$443M
2
HLT icon
Hilton Worldwide
HLT
+$443M
3
HAL icon
Halliburton
HAL
+$427M
4
SCHW
Charles Schwab
SCHW
+$418M
5
RYAAY icon
Ryanair
RYAAY
+$319M

Top Sells

Rank Stock Value
1
ORCL icon
Oracle
ORCL
+$880M
2
HCA icon
HCA Healthcare
HCA
+$783M
3
WTW icon
Willis Towers Watson
WTW
+$736M
4
UNH icon
UnitedHealth
UNH
+$396M
5
UL icon
Unilever
UL
+$392M

Sector Composition

Rank Sector Weight
1 Financials 26.58%
2 Communication Services 20.87%
3 Consumer Discretionary 14.15%
4 Technology 10.39%
5 Industrials 10.26%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VISN
126
Vistance Networks Inc
VISN
$2.59B
– –
-4,404,898
Closed -$135M
JLL icon
127
Jones Lang LaSalle
JLL
$17.8B
– –
-1,950
Closed -$281K
PFG icon
128
Principal Financial Group
PFG
$23.7B
– –
-5,350
Closed -$313K
WFT
129
DELISTED
Weatherford International plc
WFT
– –
-71,800,681
Closed -$195M
2 3 4 5
6

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Bill Nygren's Q4 2018 Portfolio in Review

As of Q4 2018, Bill Nygren held 130 positions worth $49.6B, down 22% from $63.6B the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Bill Nygren withdrew a net $2.92B in Q4 2018, closing 5 positions and reducing 73 holdings. Its most notable exit was Adient, an estimated $217M position sold in full.

By sector, the portfolio is most concentrated in Financials at 27% of assets, down from 27% a quarter earlier, followed by Communication Services and Consumer Discretionary.

Against the trend, Bill Nygren opened a new position in Halliburton worth $337M.

  • Bill Nygren's largest Q4 2018 buy was Halliburton: 12,660,135 shares worth $337M.
  • Bill Nygren added most to Netflix in Q4 2018, an estimated $443M increase.
  • Bill Nygren's biggest Q4 2018 reduction was Oracle, cutting an estimated $880M.
  • Bill Nygren fully exited Adient in Q4 2018, selling an estimated $217M.
  • Bill Nygren's ten largest holdings make up 34% of its $49.6B portfolio in Q4 2018.
  • Bill Nygren opened 7 new positions and closed 5 in Q4 2018.
  • Bill Nygren's portfolio value fell 22% quarter-over-quarter to $49.6B.

Based on Harris Associates's 13F filing for Q4 2018, filed 14 Feb 2019.