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
|
+$734M |
| 2 |
Willis Towers Watson
WTW
|
+$388M |
| 3 |
Visa
V
|
+$274M |
| 4 |
BorgWarner
BWA
|
+$189M |
| 5 |
Take-Two Interactive
TTWO
|
+$179M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$708M |
| 2 |
CNH
CNH Industrial
CNH
|
+$407M |
| 3 |
Cenovus Energy
CVE
|
+$316M |
| 4 |
Automatic Data Processing
ADP
|
+$306M |
| 5 |
Bank of America
BAC
|
+$287M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 24.01% |
| 2 | Communication Services | 21.76% |
| 3 | Consumer Discretionary | 12.31% |
| 4 | Healthcare | 10.37% |
| 5 | Technology | 10.26% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
Aon
AON
$75.3B
| $3.22M | 0.01% |
10,705
-3,879
| -27% | -$1.16M |
|
127
Sensata Technologies
ST
$6.23B
| $2.66M | ﹤0.01% |
43,115
+24,665
| +134% | +$1.44M |
|
128
Lockheed Martin
LMT
$130B
| $1.57M | ﹤0.01% |
4,417
+747
| +20% | +$258K |
|
129
Baxter International
BAX
$13.6B
| $1.47M | ﹤0.01% |
17,150
-9,127
| -35% | -$735K |
|
130
Trip.com Group
TCOM
$29B
| $1.47M | ﹤0.01% |
59,800
-2,622,333
| -98% | -$74.3M |
|
131
Intel
INTC
$476B
| $1.29M | ﹤0.01% |
25,000
-3,400
| -12% | -$174K |
|
|
RTLR
132
DELISTED
Rattler Midstream LP Common Units
RTLR
| $1.2M | ﹤0.01% |
105,588
| – | – |
|
133
iShares Russell 1000 Value ETF
IWD
$84.2B
| $1.03M | ﹤0.01% |
+6,120
| New | +$1M |
|
134
MGM Resorts International
MGM
$11B
| $883K | ﹤0.01% |
19,675
-22,925
| -54% | -$1.03M |
|
135
JPMorgan Chase
JPM
$935B
| $845K | ﹤0.01% |
5,337
| – | – |
|
136
Illinois Tool Works
ITW
$80.4B
| $765K | ﹤0.01% |
3,100
| – | – |
|
137
Microsoft
MSFT
$3.59T
| $589K | ﹤0.01% |
1,750
| – | – |
|
138
Trinity Industries
TRN
$2.37B
| $486K | ﹤0.01% |
16,100
-1,100
| -6% | -$31.4K |
|
139
Timken Company
TKR
$8.67B
| $482K | ﹤0.01% |
+6,950
| New | +$487K |
|
140
Pultegroup
PHM
$24.6B
| $438K | ﹤0.01% |
+7,668
| New | +$393K |
|
141
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $293K | ﹤0.01% |
+616
| New | +$283K |
|
142
Ralph Lauren
RL
$22.2B
| $214K | ﹤0.01% |
+1,800
| New | +$216K |
|
|
143
Alibaba
BABA
$286B
| – | – |
-4,779,180
| Closed | -$708M |
|
144
C.H. Robinson
CHRW
$16.5B
| – | – |
-2,800
| Closed | -$244K |
|
|
145
Cenovus Energy
CVE
$60.7B
| – | – |
-31,414,185
| Closed | -$316M |
|
146
Wabtec
WAB
$50.3B
| – | – |
-33,020
| Closed | -$2.85M |
|
147
WEX
WEX
$6.81B
| – | – |
-17,176
| Closed | -$3.02M |
|
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Bill Nygren's Q4 2021 Portfolio in Review
As of Q4 2021, Bill Nygren held 147 positions worth $64.2B, up 2.3% from $62.8B the previous quarter. Its ten largest holdings account for 37% of the portfolio.
Bill Nygren's Q4 2021 filing shows 10 new, 59 increased, 67 reduced and 5 closed positions. Its largest new stake was Take-Two Interactive: 1,026,868 shares worth $182M. The largest sale was Alibaba, an estimated $708M.
By sector, the portfolio is most concentrated in Financials at 24% of assets, up from 24% a quarter earlier, followed by Communication Services and Consumer Discretionary.
- Bill Nygren's largest Q4 2021 buy was Take-Two Interactive: 1,026,868 shares worth $182M.
- Bill Nygren added most to Fiserv Inc in Q4 2021, an estimated $734M increase.
- Bill Nygren's biggest Q4 2021 reduction was CNH Industrial, cutting an estimated $407M.
- Bill Nygren fully exited Alibaba in Q4 2021, selling an estimated $708M.
- Bill Nygren's ten largest holdings make up 37% of its $64.2B portfolio in Q4 2021.
- Bill Nygren opened 10 new positions and closed 5 in Q4 2021.
- Bill Nygren's portfolio value rose 2.3% quarter-over-quarter to $64.2B.
Based on Harris Associates's 13F filing for Q4 2021, filed 14 Feb 2022.