Bill Nygren Harris Associates
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$922M |
| 2 |
Berkshire Hathaway Class B
BRK.B
|
+$192M |
| 3 |
Liberty Global Class C
LBTYK
|
+$160M |
| 4 |
Open Text
OTEX
|
+$137M |
| 5 |
Trip.com Group
TCOM
|
+$114M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$968M |
| 2 |
GE Aerospace
GE
|
+$206M |
| 3 |
Apple
AAPL
|
+$167M |
| 4 |
Ryanair
RYAAY
|
+$164M |
| 5 |
Citigroup
C
|
+$162M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 26.13% |
| 2 | Communication Services | 21.33% |
| 3 | Consumer Discretionary | 15.18% |
| 4 | Industrials | 10.6% |
| 5 | Technology | 9.12% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Bank of America
BAC
$431B
| $2.88B | 5.11% |
81,850,694
-3,062,204
| -4% | -$99M |
|
|
2
Citigroup
C
$221B
| $2.66B | 4.72% |
33,299,826
-2,195,885
| -6% | -$162M |
|
3
Charter Communications
CHTR
$17.9B
| $2.24B | 3.97% |
4,621,460
-345,184
| -7% | -$159M |
|
4
General Motors
GM
$77.2B
| $2.12B | 3.77% |
58,054,730
+83,723
| +0.1% | +$3.04M |
|
5
TE Connectivity
TEL
$58.9B
| $1.91B | 3.39% |
19,936,650
-687,054
| -3% | -$63.6M |
|
|
6
Alphabet (Google) Class C
GOOG
$4.18T
| $1.84B | 3.27% |
27,551,760
-15,003,400
| -35% | -$968M |
|
|
7
Alphabet (Google) Class A
GOOGL
$4.22T
| $1.75B | 3.11% |
26,192,580
+14,300,400
| +120% | +$922M |
|
8
Regeneron Pharmaceuticals
REGN
$85.9B
| $1.64B | 2.91% |
4,366,846
+225,394
| +5% | +$75.8M |
|
|
9
Ryanair
RYAAY
$28.9B
| $1.6B | 2.83% |
45,536,318
-5,118,202
| -10% | -$164M |
|
10
Hilton Worldwide
HLT
$73.5B
| $1.54B | 2.74% |
13,914,234
+89,906
| +0.7% | +$9.02M |
|
11
American International
AIG
$39.8B
| $1.51B | 2.68% |
29,459,399
+8,862
| +0% | +$470K |
|
12
Booking.com
BKNG
$158B
| $1.37B | 2.43% |
16,677,250
+1,052,075
| +7% | +$82.6M |
|
13
Mastercard
MA
$509B
| $1.26B | 2.24% |
4,226,703
-441,342
| -9% | -$124M |
|
14
Ally Financial
ALLY
$13.1B
| $1.05B | 1.87% |
34,482,522
-697,308
| -2% | -$21.8M |
|
15
Netflix
NFLX
$331B
| $999M | 1.77% |
30,887,190
-5,610
| -0% | -$166K |
|
16
Comcast
CMCSA
$95.3B
| $937M | 1.66% |
20,840,262
+114,389
| +0.6% | +$5.09M |
|
17
Liberty Global Class A
LBTYA
$3.63B
| $840M | 1.49% |
36,959,912
+4,472,893
| +14% | +$105M |
|
18
HCA Healthcare
HCA
$92.9B
| $840M | 1.49% |
5,685,667
+172,573
| +3% | +$23.2M |
|
19
Moody's
MCO
$87.2B
| $839M | 1.49% |
3,531,961
+76,109
| +2% | +$16.9M |
|
20
Baidu
BIDU
$31.6B
| $838M | 1.49% |
6,627,979
+403,278
| +6% | +$45.8M |
|
21
Stellantis
STLA
$20.4B
| $814M | 1.44% |
55,386,066
-5,193,986
| -9% | -$75.1M |
|
22
Capital One
COF
$134B
| $782M | 1.39% |
7,598,682
-699,984
| -8% | -$67.5M |
|
23
CVS Health
CVS
$119B
| $764M | 1.35% |
10,287,222
-2,060,481
| -17% | -$145M |
|
24
Televisa
TV
$1.47B
| $763M | 1.35% |
65,064,228
+3,886,500
| +6% | +$43.1M |
|
|
SCHW
25
Charles Schwab
SCHW
$194B
| $754M | 1.34% |
15,855,223
-327,539
| -2% | -$14.4M |
|
Similar funds
Bill Nygren's Q4 2019 Portfolio in Review
As of Q4 2019, Bill Nygren held 136 positions worth $56.4B, up 9.5% from $51.5B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Bill Nygren's Q4 2019 filing shows 7 new, 36 increased, 79 reduced and 6 closed positions. Its largest new stake was Berkshire Hathaway Class B: 885,859 shares worth $201M. The largest sale was Alphabet (Google) Class C, an estimated $968M.
By sector, the portfolio is most concentrated in Financials at 26% of assets, down from 27% a quarter earlier, followed by Communication Services and Consumer Discretionary.
- Bill Nygren's largest Q4 2019 buy was Berkshire Hathaway Class B: 885,859 shares worth $201M.
- Bill Nygren added most to Alphabet (Google) Class A in Q4 2019, an estimated $922M increase.
- Bill Nygren's biggest Q4 2019 reduction was Alphabet (Google) Class C, cutting an estimated $968M.
- Bill Nygren fully exited Chesapeake Energy Corporation in Q4 2019, selling an estimated $87M.
- Bill Nygren's ten largest holdings make up 36% of its $56.4B portfolio in Q4 2019.
- Bill Nygren opened 7 new positions and closed 6 in Q4 2019.
- Bill Nygren's portfolio value rose 9.5% quarter-over-quarter to $56.4B.
Based on Harris Associates's 13F filing for Q4 2019, filed 14 Feb 2020.