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 | |
|---|---|---|---|---|---|---|
126
Caterpillar
CAT
$381B
| $1.16M | ﹤0.01% |
5,070
-1,161
| -19% | -$281K |
|
127
UnitedHealth
UNH
$350B
| $1.02M | ﹤0.01% |
2,153
-453
| -17% | -$219K |
|
128
Qorvo
QRVO
$8.43B
| $991K | ﹤0.01% |
9,757
-76,247
| -89% | -$7.73M |
|
129
Humana
HUM
$45.5B
| $925K | ﹤0.01% |
1,906
-43,902
| -96% | -$21.7M |
|
130
JPMorgan Chase
JPM
$935B
| $844K | ﹤0.01% |
6,475
+1,300
| +25% | +$178K |
|
131
Philip Morris
PM
$293B
| $842K | ﹤0.01% |
8,655
-968
| -10% | -$96.5K |
|
132
Microsoft
MSFT
$3.59T
| $740K | ﹤0.01% |
2,566
+750
| +41% | +$191K |
|
133
Baxter International
BAX
$13.6B
| $614K | ﹤0.01% |
15,150
+6,400
| +73% | +$271K |
|
134
Aon
AON
$75.3B
| $602K | ﹤0.01% |
1,910
| – | – |
|
135
Illinois Tool Works
ITW
$80.4B
| $602K | ﹤0.01% |
2,472
-273
| -10% | -$63.7K |
|
136
Aramark
ARMK
$15.8B
| $563K | ﹤0.01% |
21,778
-675,851
| -97% | -$19.2M |
|
137
IBM
IBM
$222B
| $498K | ﹤0.01% |
+3,800
| New | +$508K |
|
138
Berkshire Hathaway Class A
BRK.A
$1.06T
| $466K | ﹤0.01% |
+1
| New | +$467K |
|
139
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $436K | ﹤0.01% |
1,066
-117,488
| -99% | -$46.9M |
|
140
State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
$46.4B
| $416K | ﹤0.01% |
+1,250
| New | +$415K |
|
141
Huntington Ingalls Industries
HII
$11.8B
| $391K | ﹤0.01% |
1,889
-896
| -32% | -$194K |
|
142
Chevron
CVX
$403B
| $383K | ﹤0.01% |
2,350
+1,000
| +74% | +$168K |
|
143
Diamondback Energy
FANG
$59B
| $226K | ﹤0.01% |
1,672
-2,736
| -62% | -$381K |
|
144
Procter & Gamble
PG
$336B
| $223K | ﹤0.01% |
+1,500
| New | +$214K |
|
145
Nuveen Municipal Value Fund
NUV
$1.88B
| $160K | ﹤0.01% |
+18,150
| New | +$161K |
|
146
State Street Utilities Select Sector SPDR ETF
XLU
$22.2B
| $152K | ﹤0.01% |
+4,500
| New | +$153K |
|
147
State Street Technology Select Sector SPDR ETF
XLK
$120B
| $130K | ﹤0.01% |
+1,724
| New | +$119K |
|
|
TEI
148
Templeton Emerging Markets Income Fund
TEI
$324M
| $63.4K | ﹤0.01% |
+12,500
| New | +$67.4K |
|
149
State Street Health Care Select Sector SPDR ETF
XLV
$45.5B
| $7.77K | ﹤0.01% |
+60
| New | +$7.84K |
|
150
Etsy
ETSY
$7.44B
| – | – |
-1,104,600
| Closed | -$132M |
|
Similar funds
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.