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 |
IQVIA
IQV
|
+$1.37B |
| 2 |
Cisco
CSCO
|
+$591M |
| 3 |
Kroger
KR
|
+$342M |
| 4 |
Centene
CNC
|
+$265M |
| 5 |
Corteva
CTVA
|
+$255M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Amazon
AMZN
|
+$682M |
| 2 |
Parker-Hannifin
PH
|
+$471M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$435M |
| 4 |
Oracle
ORCL
|
+$428M |
| 5 |
Workday
WDAY
|
+$382M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 31.73% |
| 2 | Communication Services | 18.05% |
| 3 | Consumer Discretionary | 11.25% |
| 4 | Technology | 10.27% |
| 5 | Industrials | 8.45% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
FITB
126
Fifth Third Bancorp
FITB
$49.7B
| $567K | ﹤0.01% |
22,395
-2,105
| -9% | -$56.8K |
|
127
Berkshire Hathaway Class A
BRK.A
$1.06T
| $531K | ﹤0.01% |
1
| – | – |
|
128
Caterpillar
CAT
$381B
| $491K | ﹤0.01% |
1,800
-2,425
| -57% | -$658K |
|
129
AbbVie
ABBV
$468B
| $485K | ﹤0.01% |
3,255
| – | – |
|
130
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $434K | ﹤0.01% |
1,016
| – | – |
|
131
Reynolds Consumer Products
REYN
$5.37B
| $381K | ﹤0.01% |
14,850
-57,296
| -79% | -$1.56M |
|
132
Howmet Aerospace
HWM
$108B
| $347K | ﹤0.01% |
7,500
-2,500
| -25% | -$122K |
|
133
Keurig Dr Pepper
KDP
$43.6B
| $289K | ﹤0.01% |
9,140
-155,538
| -94% | -$5.13M |
|
134
Tenet Healthcare
THC
$22.6B
| $257K | ﹤0.01% |
3,900
| – | – |
|
135
Adobe
ADBE
$109B
| – | – |
-26,805
| Closed | -$13.1M |
|
136
Dollar Tree
DLTR
$25.3B
| – | – |
-215,341
| Closed | -$30.9M |
|
137
Euronet Worldwide
EEFT
$2.62B
| – | – |
-43,216
| Closed | -$5.07M |
|
138
Diamondback Energy
FANG
$59B
| – | – |
-1,672
| Closed | -$220K |
|
139
General Dynamics
GD
$104B
| – | – |
-6,590
| Closed | -$1.42M |
|
140
Huntington Ingalls Industries
HII
$11.8B
| – | – |
-1,239
| Closed | -$282K |
|
141
Humana
HUM
$45.5B
| – | – |
-1,245
| Closed | -$557K |
|
142
IBM
IBM
$222B
| – | – |
-3,977
| Closed | -$532K |
|
143
McDonald's
MCD
$192B
| – | – |
-900
| Closed | -$269K |
|
144
PACCAR
PCAR
$69B
| – | – |
-1,583,096
| Closed | -$132M |
|
145
Post Holdings
POST
$3.65B
| – | – |
-3,475
| Closed | -$301K |
|
146
Restaurant Brands International
QSR
$28.2B
| – | – |
-864,439
| Closed | -$67M |
|
147
Regeneron Pharmaceuticals
REGN
$85.9B
| – | – |
-878
| Closed | -$631K |
|
148
Constellation Brands
STZ
$23.2B
| – | – |
-5,283
| Closed | -$1.3M |
|
149
Timken Company
TKR
$8.67B
| – | – |
-12,355
| Closed | -$1.13M |
|
|
PDCE
150
DELISTED
PDC Energy, Inc.
PDCE
| – | – |
-1,436,693
| Closed | -$102M |
|
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Bill Nygren's Q3 2023 Portfolio in Review
As of Q3 2023, Bill Nygren held 150 positions worth $51.4B, down 3.3% from $53.1B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Bill Nygren's Q3 2023 filing shows 8 new, 39 increased, 81 reduced and 16 closed positions. Its largest new stake was Cisco: 10,945,290 shares worth $588M. The largest sale was Amazon, an estimated $682M.
By sector, the portfolio is most concentrated in Financials at 32% of assets, up from 31% a quarter earlier, followed by Communication Services and Consumer Discretionary.
- Bill Nygren's largest Q3 2023 buy was Cisco: 10,945,290 shares worth $588M.
- Bill Nygren added most to IQVIA in Q3 2023, an estimated $1.37B increase.
- Bill Nygren's biggest Q3 2023 reduction was Amazon, cutting an estimated $682M.
- Bill Nygren fully exited PACCAR in Q3 2023, selling an estimated $132M.
- Bill Nygren's ten largest holdings make up 36% of its $51.4B portfolio in Q3 2023.
- Bill Nygren opened 8 new positions and closed 16 in Q3 2023.
- Bill Nygren's portfolio value fell 3.3% quarter-over-quarter to $51.4B.
Based on Harris Associates's 13F filing for Q3 2023, filed 14 Nov 2023.