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BN

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
+11.12%
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
$56B
AUM Growth
+$4.6B
Cap. Flow
-$826M
Cap. Flow %
-1.48%
Top 10 Hldgs %
32.89%
Holding
191
New
10
Increased
69
Reduced
73
Closed
4

Top Buys

Rank Stock Value
1
AON icon
Aon
AON
+$544M
2
UNP icon
Union Pacific
UNP
+$529M
3
GLPI icon
Gaming and Leisure Properties
GLPI
+$209M
4
BAC icon
Bank of America
BAC
+$183M
5
BNY
Bank of New York Mellon
BNY
+$179M

Top Sells

Rank Stock Value
1
TXN icon
Texas Instruments
TXN
+$321M
2
ITW icon
Illinois Tool Works
ITW
+$318M
3
ROK icon
Rockwell Automation
ROK
+$251M
4
PENN icon
PENN Entertainment
PENN
+$231M
5
CVE icon
Cenovus Energy
CVE
+$225M

Sector Composition

Rank Sector Weight
1 Financials 28.33%
2 Technology 17.42%
3 Consumer Discretionary 14.34%
4 Industrials 13.49%
5 Healthcare 9.19%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CELG
151
DELISTED
Celgene Corp
CELG
$888K ﹤0.01%
10,516
– –
COP icon
152
ConocoPhillips
COP
$162B
$812K ﹤0.01%
11,500
– –
PG icon
153
Procter & Gamble
PG
$336B
$750K ﹤0.01%
9,209
– –
KMP
154
DELISTED
KINDER MORGAN ENER PNTRS L.P.
KMP
$742K ﹤0.01%
9,200
-300
-3% -$24.2K
WBD icon
155
Warner Bros
WBD
$71.6B
$670K ﹤0.01%
14,503
-79,323
-85% -$3.43M
DD
156
DELISTED
Du Pont De Nemours E I
DD
$646K ﹤0.01%
10,477
– –
PEP icon
157
PepsiCo
PEP
$196B
$639K ﹤0.01%
7,702
+1,400
+22% +$116K
MHFI
158
DELISTED
MCGRAW-HILL FINANCIAL INC COM
MHFI
$626K ﹤0.01%
8,000
– –
LLTC
159
DELISTED
Linear Technology Corp
LLTC
$547K ﹤0.01%
+12,000
New +$501K
HON icon
160
Honeywell
HON
$68.4B
$509K ﹤0.01%
6,198
-257
-4% -$20.1K
DHR icon
161
Danaher
DHR
$154B
$486K ﹤0.01%
9,373
– –
CYS
162
DELISTED
CYS Investments Inc.
CYS
$423K ﹤0.01%
57,142
– –
ESRX
163
DELISTED
Express Scripts Holding Company
ESRX
$421K ﹤0.01%
5,995
– –
PSX icon
164
Phillips 66
PSX
$96.9B
$409K ﹤0.01%
5,300
– –
ALL icon
165
Allstate
ALL
$64.2B
$398K ﹤0.01%
7,291
-39
-0.5% -$2.08K
KS
166
DELISTED
KapStone Paper and Pack Corp.
KS
$397K ﹤0.01%
14,200
– –
ADM icon
167
Archer Daniels Midland
ADM
$38.7B
$393K ﹤0.01%
9,050
– –
K
168
DELISTED
Kellanova
K
$391K ﹤0.01%
6,816
– –
PCL
169
DELISTED
PLUM CREEK TIMBER CO (REIT)
PCL
$356K ﹤0.01%
7,650
+850
+13% +$38.9K
AMGN icon
170
Amgen
AMGN
$238B
$349K ﹤0.01%
3,055
-181
-6% -$20.6K
MO icon
171
Altria Group
MO
$110B
$329K ﹤0.01%
8,582
– –
BBBY
172
DELISTED
Bed Bath & Beyond Inc
BBBY
$321K ﹤0.01%
+4,000
New +$309K
MDLZ icon
173
Mondelez International
MDLZ
$82.3B
$318K ﹤0.01%
+9,004
New +$299K
MBFI
174
DELISTED
MB Financial Corp
MBFI
$313K ﹤0.01%
9,769
– –
UN
175
DELISTED
Unilever NV New York Registry Shares
UN
$281K ﹤0.01%
6,989
– –
4 5 6
7
8

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Bill Nygren's Q4 2013 Portfolio in Review

As of Q4 2013, Bill Nygren held 191 positions worth $56B, up 9% from $51.4B the previous quarter. Its ten largest holdings account for 33% of the portfolio.

Bill Nygren's Q4 2013 filing shows 10 new, 69 increased, 73 reduced and 4 closed positions. Its largest new stake was Gaming and Leisure Properties: 4,402,618 shares worth $224M. The largest sale was Texas Instruments, an estimated $321M.

By sector, the portfolio is most concentrated in Financials at 28% of assets, up from 25% a quarter earlier, followed by Technology and Consumer Discretionary.

  • Bill Nygren's largest Q4 2013 buy was Gaming and Leisure Properties: 4,402,618 shares worth $224M.
  • Bill Nygren added most to Aon in Q4 2013, an estimated $544M increase.
  • Bill Nygren's biggest Q4 2013 reduction was Texas Instruments, cutting an estimated $321M.
  • Bill Nygren fully exited Staples Inc in Q4 2013, selling an estimated $88.2M.
  • Bill Nygren's ten largest holdings make up 33% of its $56B portfolio in Q4 2013.
  • Bill Nygren opened 10 new positions and closed 4 in Q4 2013.
  • Bill Nygren's portfolio value rose 9% quarter-over-quarter to $56B.

Based on Harris Associates's 13F filing for Q4 2013, filed 10 Feb 2014.