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Bill Nygren Harris Associates
AUM
$75.4B
Turnover
12.87%
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
-0.21%
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
$49.5B
AUM Growth
-$3.61B
(-6.8%)
Cap. Flow
-$3.08B
Cap. Flow % of AUM
Cap. Flow %
-6.21%
Top 10 Holdings %
Top 10 Hldgs %
32.45%
Holding
127
New
4
Increased
37
Reduced
77
Closed
9
Avg Time Held
2.2
years
Top 10 Avg Time Held
2.1
years
Top 20 Avg Time Held
1.9
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
LNKD
LinkedIn Corporation
LNKD
|
+$374M |
| 2 |
Harley-Davidson
HOG
|
+$226M |
| 3 |
IQVIA
IQV
|
+$222M |
| 4 |
CarMax
KMX
|
+$149M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$142M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Intel
INTC
|
+$594M |
| 2 |
Applied Materials
AMAT
|
+$333M |
| 3 |
MON
Monsanto Co
MON
|
+$325M |
| 4 |
Anadarko Petroleum
APC
|
+$281M |
| 5 |
GE Aerospace
GE
|
+$235M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 33.94% |
| 2 | Technology | 15.18% |
| 3 | Consumer Discretionary | 12.17% |
| 4 | Communication Services | 12.02% |
| 5 | Industrials | 11.97% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
General Motors
GM
$72.8B
| $2.09B | 4.22% |
73,765,602
-4,798,322
| -6% | -$146M |
2013 Q2
12 quarters
|
|
2
Oracle
ORCL
$423B
| $1.85B | 3.73% |
45,120,556
-2,597,125
| -5% | -$104M |
2013 Q2
12 quarters
|
|
3
Bank of America
BAC
$354B
| $1.78B | 3.6% |
134,260,262
-10,033,480
| -7% | -$141M |
2013 Q2
12 quarters
|
|
4
American International
AIG
$42.6B
| $1.7B | 3.43% |
32,107,817
-3,218,300
| -9% | -$178M |
2013 Q2
12 quarters
|
|
5
JPMorgan Chase
JPM
$912B
| $1.63B | 3.29% |
26,205,547
-2,944,922
| -10% | -$184M |
2013 Q2
12 quarters
|
|
6
TE Connectivity
TEL
$64B
| $1.61B | 3.24% |
28,128,618
-839,525
| -3% | -$50.5M |
2013 Q2
12 quarters
|
|
|
7
Alphabet (Google) Class C
GOOG
$3.45T
| $1.51B | 3.05% |
43,647,060
+3,967,000
| +10% | +$142M |
2013 Q2
12 quarters
|
|
8
Mastercard
MA
$557B
| $1.42B | 2.87% |
16,134,895
-718,687
| -4% | -$68.6M |
2013 Q2
12 quarters
|
|
9
Wells Fargo
WFC
$255B
| $1.29B | 2.6% |
27,168,310
-2,538,266
| -9% | -$124M |
2013 Q2
12 quarters
|
|
10
Citigroup
C
$208B
| $1.2B | 2.43% |
28,351,737
-336,292
| -1% | -$14.9M |
2014 Q1
9 quarters
|
|
|
11
GE Aerospace
GE
$325B
| $1.2B | 2.42% |
7,953,653
-1,610,350
| -17% | -$235M |
2013 Q2
12 quarters
|
|
12
Caterpillar
CAT
$298B
| $1.05B | 2.12% |
13,835,695
-1,308,505
| -9% | -$98M |
2013 Q4
10 quarters
|
|
13
Cummins
CMI
$71.3B
| $974M | 1.97% |
8,660,414
-976,088
| -10% | -$111M |
2013 Q2
12 quarters
|
|
14
Baidu
BIDU
$26.8B
| $870M | 1.76% |
5,266,680
+573,737
| +12% | +$101M |
2015 Q3
3 quarters
|
|
15
Aon
AON
$68.3B
| $857M | 1.73% |
7,841,660
-1,030,880
| -12% | -$109M |
2013 Q2
12 quarters
|
|
16
Goldman Sachs
GS
$270B
| $853M | 1.72% |
5,743,708
+338,324
| +6% | +$52.8M |
2013 Q2
12 quarters
|
|
17
APA Corp
APA
$18B
| $840M | 1.7% |
15,085,997
-1,117,630
| -7% | -$60.8M |
2013 Q2
12 quarters
|
|
18
Microsoft
MSFT
$3.94T
| $837M | 1.69% |
16,365,931
-1,512,298
| -8% | -$78.6M |
2013 Q2
12 quarters
|
|
|
19
Intel
INTC
$487B
| $811M | 1.64% |
24,734,993
-18,960,185
| -43% | -$594M |
2013 Q2
12 quarters
|
|
20
Televisa
TV
$1.13B
| $778M | 1.57% |
29,888,272
+5,170,210
| +21% | +$136M |
2015 Q4
2 quarters
|
|
21
UnitedHealth
UNH
$369B
| $715M | 1.44% |
5,062,362
-126,252
| -2% | -$16.8M |
2013 Q2
12 quarters
|
|
22
Diageo
DEO
$50.8B
| $637M | 1.29% |
5,645,032
-55,935
| -1% | -$6.05M |
2013 Q2
12 quarters
|
|
|
QVCGA
23
DELISTED
QVC Group Inc Series A
QVCGA
| $605M | 1.22% |
490,997
-16,116
| -3% | -$20.3M |
2013 Q2
12 quarters
|
|
24
Fidelity National Financial
FNF
$10.8B
| $584M | 1.18% |
22,449,141
-651,205
| -3% | -$15.3M |
2014 Q1
9 quarters
|
|
25
Visa
V
$767B
| $583M | 1.18% |
7,863,614
-297,991
| -4% | -$23.3M |
2013 Q2
12 quarters
|
|
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Bill Nygren's Q2 2016 Portfolio in Review
As of Q2 2016, Bill Nygren held 127 positions worth $49.5B, down 6.8% from $53.1B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Bill Nygren withdrew a net $3.08B in Q2 2016, closing 9 positions and reducing 77 holdings. Its most notable exit was Franklin Templeton, an estimated $211M position sold in full.
By sector, the portfolio is most concentrated in Financials at 34% of assets, down from 34% a quarter earlier, followed by Technology and Consumer Discretionary.
Against the trend, Bill Nygren opened a new position in LinkedIn Corporation worth $511M.
- Bill Nygren's largest Q2 2016 buy was LinkedIn Corporation: 2,700,650 shares worth $511M.
- Bill Nygren added most to Harley-Davidson in Q2 2016, an estimated $226M increase.
- Bill Nygren's biggest Q2 2016 reduction was Intel, cutting an estimated $594M.
- Bill Nygren fully exited Franklin Templeton in Q2 2016, selling an estimated $211M.
- Bill Nygren's ten largest holdings make up 32% of its $49.5B portfolio in Q2 2016.
- Bill Nygren opened 4 new positions and closed 9 in Q2 2016.
- Bill Nygren's portfolio value fell 6.8% quarter-over-quarter to $49.5B.
Based on Harris Associates's 13F filing for Q2 2016, filed 10 Aug 2016.