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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
+9.34%
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
$50.5B
AUM Growth
+$948M
(+1.9%)
Cap. Flow
-$3.15B
Cap. Flow % of AUM
Cap. Flow %
-6.24%
Top 10 Holdings %
Top 10 Hldgs %
33.9%
Holding
122
New
4
Increased
28
Reduced
84
Closed
5
Avg Time Held
2.4
years
Top 10 Avg Time Held
2.4
years
Top 20 Avg Time Held
2.1
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
MGM Resorts International
MGM
|
+$370M |
| 2 |
HCA Healthcare
HCA
|
+$338M |
| 3 |
Televisa
TV
|
+$206M |
| 4 |
Chesapeake Energy Corporation
CHK
|
+$175M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$139M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Applied Materials
AMAT
|
+$568M |
| 2 |
LNKD
LinkedIn Corporation
LNKD
|
+$511M |
| 3 |
Microsoft
MSFT
|
+$419M |
| 4 |
Goldman Sachs
GS
|
+$270M |
| 5 |
MON
Monsanto Co
MON
|
+$181M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 34.51% |
| 2 | Technology | 14.07% |
| 3 | Consumer Discretionary | 13.1% |
| 4 | Industrials | 11.96% |
| 5 | Communication Services | 11.69% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
General Motors
GM
$75.5B
| $2.19B | 4.34% |
68,948,315
-4,817,287
| -7% | -$150M |
2013 Q2
13 quarters
|
|
2
Bank of America
BAC
$350B
| $2.02B | 4% |
129,015,070
-5,245,192
| -4% | -$78.1M |
2013 Q2
13 quarters
|
|
|
3
Alphabet (Google) Class C
GOOG
$3.57T
| $1.84B | 3.64% |
47,302,940
+3,655,880
| +8% | +$139M |
2013 Q2
13 quarters
|
|
4
TE Connectivity
TEL
$62.9B
| $1.81B | 3.58% |
28,077,669
-50,949
| -0.2% | -$3.12M |
2013 Q2
13 quarters
|
|
5
American International
AIG
$43B
| $1.81B | 3.58% |
30,442,170
-1,665,647
| -5% | -$95.2M |
2013 Q2
13 quarters
|
|
6
Oracle
ORCL
$400B
| $1.69B | 3.35% |
43,091,816
-2,028,740
| -4% | -$82.7M |
2013 Q2
13 quarters
|
|
7
JPMorgan Chase
JPM
$912B
| $1.63B | 3.22% |
24,434,835
-1,770,712
| -7% | -$115M |
2013 Q2
13 quarters
|
|
8
Mastercard
MA
$576B
| $1.59B | 3.15% |
15,598,401
-536,494
| -3% | -$51.4M |
2013 Q2
13 quarters
|
|
9
Citigroup
C
$206B
| $1.4B | 2.77% |
29,561,849
+1,210,112
| +4% | +$55M |
2014 Q1
10 quarters
|
|
10
Wells Fargo
WFC
$258B
| $1.14B | 2.26% |
25,790,268
-1,378,042
| -5% | -$65.9M |
2013 Q2
13 quarters
|
|
11
Caterpillar
CAT
$275B
| $1.12B | 2.22% |
12,622,199
-1,213,496
| -9% | -$99.3M |
2013 Q4
11 quarters
|
|
12
GE Aerospace
GE
$356B
| $1.1B | 2.18% |
7,741,538
-212,115
| -3% | -$31.6M |
2013 Q2
13 quarters
|
|
13
Cummins
CMI
$63.5B
| $978M | 1.94% |
7,631,624
-1,028,790
| -12% | -$125M |
2013 Q2
13 quarters
|
|
|
14
Televisa
TV
$2.36B
| $968M | 1.92% |
37,679,562
+7,791,290
| +26% | +$206M |
2015 Q4
3 quarters
|
|
15
APA Corp
APA
$15.7B
| $937M | 1.86% |
14,671,642
-414,355
| -3% | -$22.6M |
2013 Q2
13 quarters
|
|
16
Baidu
BIDU
$27.2B
| $831M | 1.65% |
4,564,070
-702,610
| -13% | -$122M |
2015 Q3
4 quarters
|
|
17
Aon
AON
$71.4B
| $803M | 1.59% |
7,134,245
-707,415
| -9% | -$78M |
2013 Q2
13 quarters
|
|
18
Intel
INTC
$332B
| $781M | 1.55% |
20,694,052
-4,040,941
| -16% | -$143M |
2013 Q2
13 quarters
|
|
19
UnitedHealth
UNH
$361B
| $680M | 1.35% |
4,854,692
-207,670
| -4% | -$29.1M |
2013 Q2
13 quarters
|
|
|
20
Goldman Sachs
GS
$267B
| $658M | 1.3% |
4,081,471
-1,662,237
| -29% | -$270M |
2013 Q2
13 quarters
|
|
21
Willis Towers Watson
WTW
$30.8B
| $631M | 1.25% |
4,756,126
+923,565
| +24% | +$115M |
2013 Q2
13 quarters
|
|
22
Diageo
DEO
$55.8B
| $629M | 1.25% |
5,420,167
-224,865
| -4% | -$25.7M |
2013 Q2
13 quarters
|
|
23
Principal Financial Group
PFG
$24.4B
| $621M | 1.23% |
12,055,122
-364,555
| -3% | -$17M |
2013 Q2
13 quarters
|
|
24
Visa
V
$794B
| $611M | 1.21% |
7,389,123
-474,491
| -6% | -$38M |
2013 Q2
13 quarters
|
|
25
Capital One
COF
$119B
| $599M | 1.19% |
8,338,060
+61,829
| +0.7% | +$4.25M |
2013 Q2
13 quarters
|
|
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Bill Nygren's Q3 2016 Portfolio in Review
As of Q3 2016, Bill Nygren held 122 positions worth $50.5B, up 1.9% from $49.5B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Bill Nygren withdrew a net $3.15B in Q3 2016, closing 5 positions and reducing 84 holdings. Its most notable exit was LinkedIn Corporation, an estimated $511M position sold in full.
By sector, the portfolio is most concentrated in Financials at 35% of assets, up from 34% a quarter earlier, followed by Technology and Consumer Discretionary.
Against the trend, Bill Nygren opened a new position in Vistance Networks Inc worth $103M.
- Bill Nygren's largest Q3 2016 buy was Vistance Networks Inc: 3,423,840 shares worth $103M.
- Bill Nygren added most to MGM Resorts International in Q3 2016, an estimated $370M increase.
- Bill Nygren's biggest Q3 2016 reduction was Applied Materials, cutting an estimated $568M.
- Bill Nygren fully exited LinkedIn Corporation in Q3 2016, selling an estimated $511M.
- Bill Nygren's ten largest holdings make up 34% of its $50.5B portfolio in Q3 2016.
- Bill Nygren opened 4 new positions and closed 5 in Q3 2016.
- Bill Nygren's portfolio value rose 1.9% quarter-over-quarter to $50.5B.
Based on Harris Associates's 13F filing for Q3 2016, filed 9 Nov 2016.