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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
-0.33%
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
$60.9B
AUM Growth
+$1.5B
Cap. Flow
+$2.01B
Cap. Flow %
3.3%
Top 10 Hldgs %
33.95%
Holding
185
New
9
Increased
65
Reduced
61
Closed
10

Top Buys

Rank Stock Value
1
FNF icon
Fidelity National Financial
FNF
+$445M
2
MLCO icon
Melco Resorts & Entertainment
MLCO
+$294M
3
AMZN icon
Amazon
AMZN
+$251M
4
LVS icon
Las Vegas Sands
LVS
+$238M
5
GS icon
Goldman Sachs
GS
+$227M

Top Sells

Rank Stock Value
1
MCD icon
McDonald's
MCD
+$347M
2
TRW
TRW AUTOMOTIVE HOLDINGS CORP
TRW
+$307M
3
FDO
FAMILY DOLLAR STORES
FDO
+$212M
4
FDX icon
FedEx
FDX
+$174M
5
APTV icon
Aptiv
APTV
+$170M

Sector Composition

Rank Sector Weight
1 Financials 34.57%
2 Technology 18.35%
3 Consumer Discretionary 14.53%
4 Industrials 8.46%
5 Healthcare 6.82%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DHR icon
151
Danaher
DHR
$154B
$479K ﹤0.01%
9,373
– –
PG icon
152
Procter & Gamble
PG
$336B
$478K ﹤0.01%
5,709
– –
ADM icon
153
Archer Daniels Midland
ADM
$38.7B
$462K ﹤0.01%
9,050
– –
PSX icon
154
Phillips 66
PSX
$96.9B
$431K ﹤0.01%
5,300
– –
ALL icon
155
Allstate
ALL
$64.2B
$429K ﹤0.01%
6,991
– –
AMGN icon
156
Amgen
AMGN
$238B
$427K ﹤0.01%
3,037
– –
ESRX
157
DELISTED
Express Scripts Holding Company
ESRX
$418K ﹤0.01%
5,924
– –
KS
158
DELISTED
KapStone Paper and Pack Corp.
KS
$397K ﹤0.01%
14,200
– –
K
159
DELISTED
Kellanova
K
$394K ﹤0.01%
6,816
– –
MO icon
160
Altria Group
MO
$110B
$394K ﹤0.01%
8,582
– –
CVX icon
161
Chevron
CVX
$403B
$366K ﹤0.01%
3,068
-200
-6% -$25.5K
HON icon
162
Honeywell
HON
$68.4B
$332K ﹤0.01%
3,972
– –
CNI icon
163
Canadian National Railway
CNI
$78.5B
$319K ﹤0.01%
4,500
– –
LLTC
164
DELISTED
Linear Technology Corp
LLTC
$311K ﹤0.01%
7,000
– –
NTRS icon
165
Northern Trust
NTRS
$33.6B
$296K ﹤0.01%
4,350
– –
SLB icon
166
SLB Ltd
SLB
$79.9B
$285K ﹤0.01%
2,800
– –
PCL
167
DELISTED
PLUM CREEK TIMBER CO (REIT)
PCL
$265K ﹤0.01%
6,800
– –
UN
168
DELISTED
Unilever NV New York Registry Shares
UN
$256K ﹤0.01%
6,460
– –
LLY icon
169
Eli Lilly
LLY
$1.12T
$240K ﹤0.01%
3,700
– –
AET
170
DELISTED
Aetna Inc
AET
$237K ﹤0.01%
2,920
– –
WBD icon
171
Warner Bros
WBD
$71.6B
$217K ﹤0.01%
5,749
-5,502
-49% -$229K
CYS
172
DELISTED
CYS Investments Inc.
CYS
$217K ﹤0.01%
26,380
– –
RPM icon
173
RPM International
RPM
$13.9B
$201K ﹤0.01%
4,393
– –
UAMY icon
174
United States Antimony
UAMY
$822M
$197K ﹤0.01%
+155,000
New +$230K
MRGE
175
DELISTED
MERGE HEALTHCARE INC COM STK (WI)
MRGE
$154K ﹤0.01%
+70,000
New +$170K
4 5 6
7
8

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Bill Nygren's Q3 2014 Portfolio in Review

As of Q3 2014, Bill Nygren held 185 positions worth $60.9B, up 2.5% from $59.4B the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Bill Nygren deployed $2.01B of net new capital in Q3 2014, opening 9 new positions and adding to 65 existing holdings. Its largest new stake was Melco Resorts & Entertainment: 9,756,200 shares worth $256M.

By sector, the portfolio is most concentrated in Financials at 35% of assets, up from 32% a quarter earlier, followed by Technology and Consumer Discretionary.

On the sell side, the largest reduction was McDonald's, an estimated $347M trimmed.

  • Bill Nygren's largest Q3 2014 buy was Melco Resorts & Entertainment: 9,756,200 shares worth $256M.
  • Bill Nygren added most to Fidelity National Financial in Q3 2014, an estimated $445M increase.
  • Bill Nygren's biggest Q3 2014 reduction was McDonald's, cutting an estimated $347M.
  • Bill Nygren fully exited Marriott International in Q3 2014, selling an estimated $66.6M.
  • Bill Nygren's ten largest holdings make up 34% of its $60.9B portfolio in Q3 2014.
  • Bill Nygren opened 9 new positions and closed 10 in Q3 2014.
  • Bill Nygren's portfolio value rose 2.5% quarter-over-quarter to $60.9B.

Based on Harris Associates's 13F filing for Q3 2014, filed 12 Nov 2014.