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 |
Keurig Dr Pepper
KDP
|
+$923M |
| 2 |
Elevance Health
ELV
|
+$762M |
| 3 |
Airbnb
ABNB
|
+$720M |
| 4 |
Equifax
EFX
|
+$472M |
| 5 |
Merck
MRK
|
+$340M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Salesforce
CRM
|
+$1.18B |
| 2 |
FISV
Fiserv Inc
FISV
|
+$946M |
| 3 |
Wells Fargo
WFC
|
+$453M |
| 4 |
Capital One
COF
|
+$449M |
| 5 |
CBRE Group
CBRE
|
+$435M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 24.93% |
| 2 | Communication Services | 10.05% |
| 3 | Industrials | 9.01% |
| 4 | Healthcare | 8.43% |
| 5 | Consumer Discretionary | 8.21% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
MasterBrand
MBC
$1.85B
| $736K | ﹤0.01% |
50,362
-2,236
| -4% | -$38.1K |
|
127
Citizens Financial Group
CFG
$29.4B
| $701K | ﹤0.01% |
16,022
-1,105
| -6% | -$48.9K |
|
128
Caterpillar
CAT
$381B
| $696K | ﹤0.01% |
1,920
+120
| +7% | +$46.5K |
|
129
eBay
EBAY
$46.3B
| $655K | ﹤0.01% |
10,568
-2,250,761
| -100% | -$143M |
|
130
Flowserve
FLS
$10.1B
| $644K | ﹤0.01% |
11,200
| – | – |
|
131
NVIDIA
NVDA
$5.2T
| $569K | ﹤0.01% |
4,240
+235
| +6% | +$32.4K |
|
132
Philip Morris
PM
$293B
| $567K | ﹤0.01% |
4,710
-12
| -0.3% | -$1.51K |
|
133
S&P Global
SPGI
$127B
| $533K | ﹤0.01% |
1,071
-33
| -3% | -$16.7K |
|
134
Parker-Hannifin
PH
$126B
| $518K | ﹤0.01% |
814
-210
| -21% | -$139K |
|
135
Tenet Healthcare
THC
$22.6B
| $429K | ﹤0.01% |
3,400
-500
| -13% | -$74.3K |
|
136
Automatic Data Processing
ADP
$112B
| $397K | ﹤0.01% |
1,355
-950
| -41% | -$281K |
|
137
General Dynamics
GD
$104B
| $349K | ﹤0.01% |
1,325
+595
| +82% | +$171K |
|
138
Altria Group
MO
$110B
| $343K | ﹤0.01% |
6,550
-3,900,077
| -100% | -$208M |
|
139
Chevron
CVX
$403B
| $317K | ﹤0.01% |
2,188
+250
| +13% | +$38.3K |
|
140
McDonald's
MCD
$192B
| $278K | ﹤0.01% |
+960
| New | +$286K |
|
141
iShares MSCI ACWI ETF
ACWI
$33.3B
| $270K | ﹤0.01% |
2,300
-1,125
| -33% | -$135K |
|
142
UnitedHealth
UNH
$350B
| $221K | ﹤0.01% |
436
-50
| -10% | -$28.4K |
|
143
Home Depot
HD
$335B
| $208K | ﹤0.01% |
+534
| New | +$218K |
|
144
Lloyds Banking Group
LYG
$87.3B
| $141K | ﹤0.01% |
51,690
+6,000
| +13% | +$17.1K |
|
145
iShares MSCI EAFE ETF
EFA
$80B
| $73.5K | ﹤0.01% |
972
| – | – |
|
146
iShares MSCI India ETF
INDA
$6.61B
| $31.6K | ﹤0.01% |
+600
| New | +$33K |
|
147
iShares Global Infrastructure ETF
IGF
$10.5B
| $16.3K | ﹤0.01% |
312
| – | – |
|
148
Vanguard Morningstar Total Stock Market ETF
VTI
$685B
| $14.5K | ﹤0.01% |
50
| – | – |
|
149
iShares MSCI Europe Financials ETF
EUFN
$4.28B
| $14K | ﹤0.01% |
+600
| New | +$14.4K |
|
150
iShares Core S&P Small-Cap ETF
IJR
$111B
| $8.06K | ﹤0.01% |
70
-1,081
| -94% | -$129K |
|
Similar funds
Bill Nygren's Q4 2024 Portfolio in Review
As of Q4 2024, Bill Nygren held 160 positions worth $76B, down 0.82% from $76.6B the previous quarter. Its ten largest holdings account for 45% of the portfolio.
Bill Nygren withdrew a net $17.6B in Q4 2024, closing 7 positions and reducing 93 holdings. Its most notable exit was Agilent Technologies, an estimated $166M position sold in full.
By sector, the portfolio is most concentrated in Financials at 25% of assets, up from 24% a quarter earlier, followed by Communication Services and Industrials.
Against the trend, Bill Nygren opened a new position in Elevance Health worth $672M.
- Bill Nygren's largest Q4 2024 buy was Elevance Health: 1,821,284 shares worth $672M.
- Bill Nygren added most to Keurig Dr Pepper in Q4 2024, an estimated $923M increase.
- Bill Nygren's biggest Q4 2024 reduction was Salesforce, cutting an estimated $1.18B.
- Bill Nygren fully exited Agilent Technologies in Q4 2024, selling an estimated $166M.
- Bill Nygren's ten largest holdings make up 45% of its $76B portfolio in Q4 2024.
- Bill Nygren opened 14 new positions and closed 7 in Q4 2024.
- Bill Nygren's portfolio value fell 0.82% quarter-over-quarter to $76B.
Based on Harris Associates's 13F filing for Q4 2024, filed 14 Feb 2025.