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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
+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
NTRS icon
176
Northern Trust
NTRS
$33.6B
$269K ﹤0.01%
4,350
– –
LBTYA icon
177
Liberty Global Class A
LBTYA
$3.63B
$260K ﹤0.01%
7,093
-2,008
-22% -$67.3K
CNI icon
178
Canadian National Railway
CNI
$78.5B
$257K ﹤0.01%
4,500
– –
SLB icon
179
SLB Ltd
SLB
$79.9B
$256K ﹤0.01%
2,845
– –
RRC icon
180
Range Resources
RRC
$9.59B
$253K ﹤0.01%
3,000
– –
RDS.A
181
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
$230K ﹤0.01%
3,450
– –
BP icon
182
BP
BP
$115B
$210K ﹤0.01%
+5,291
New +$197K
FWONA icon
183
Liberty Media Series A
FWONA
$24.2B
$206K ﹤0.01%
+7,909
New +$210K
GWW icon
184
W.W. Grainger
GWW
$61.8B
$204K ﹤0.01%
800
– –
NRT
185
North European Oil Royalty Trust
NRT
$79.3M
$204K ﹤0.01%
10,200
– –
AET
186
DELISTED
Aetna Inc
AET
$200K ﹤0.01%
+2,920
New +$191K
PTEN icon
187
Patterson-UTI
PTEN
$4.71B
– –
-1,760,400
Closed -$37.6M
ARRS
188
DELISTED
ARRIS International plc Ordinary Shares
ARRS
– –
-3,977,793
Closed -$67.9M
WMS
189
DELISTED
WMS INDS INC
WMS
– –
-40,200
Closed -$1.04M
SPLS
190
DELISTED
Staples Inc
SPLS
– –
-6,019,658
Closed -$88.2M
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.