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
|
+$1.42B |
| 2 |
FISV
Fiserv Inc
FISV
|
+$445M |
| 3 |
Netflix
NFLX
|
+$235M |
| 4 |
Regeneron Pharmaceuticals
REGN
|
+$208M |
| 5 |
Alibaba
BABA
|
+$199M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$1.41B |
| 2 |
MGM Resorts International
MGM
|
+$573M |
| 3 |
Caterpillar
CAT
|
+$373M |
| 4 |
CNH
CNH Industrial
CNH
|
+$250M |
| 5 |
Cenovus Energy
CVE
|
+$206M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 24.07% |
| 2 | Communication Services | 22.9% |
| 3 | Consumer Discretionary | 12.16% |
| 4 | Industrials | 10.01% |
| 5 | Technology | 9.55% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Alphabet (Google) Class A
GOOGL
$4.22T
| $4.8B | 7.64% |
39,319,760
+12,179,000
| +45% | +$1.42B |
|
2
Bank of America
BAC
$431B
| $2.67B | 4.25% |
64,797,568
-3,864,681
| -6% | -$158M |
|
3
Charter Communications
CHTR
$17.9B
| $2.27B | 3.62% |
3,152,631
+253,776
| +9% | +$171M |
|
|
CNH
4
CNH Industrial
CNH
$19.1B
| $2.22B | 3.54% |
154,604,921
-17,503,085
| -10% | -$250M |
|
5
General Motors
GM
$77.2B
| $2.06B | 3.29% |
34,883,279
-1,666,816
| -5% | -$98M |
|
6
Citigroup
C
$221B
| $1.94B | 3.09% |
27,388,329
+65,953
| +0.2% | +$4.88M |
|
7
HCA Healthcare
HCA
$92.9B
| $1.82B | 2.89% |
8,789,096
-157,622
| -2% | -$32.1M |
|
8
Keurig Dr Pepper
KDP
$43.6B
| $1.63B | 2.6% |
46,363,431
+1,894,556
| +4% | +$67.6M |
|
9
Humana
HUM
$45.5B
| $1.49B | 2.37% |
3,362,872
+299,345
| +10% | +$131M |
|
10
American International
AIG
$39.8B
| $1.49B | 2.37% |
31,208,519
-281,834
| -0.9% | -$13.9M |
|
11
Booking.com
BKNG
$158B
| $1.46B | 2.32% |
16,677,575
-1,132,600
| -6% | -$106M |
|
12
Meta Platforms (Facebook)
META
$1.4T
| $1.4B | 2.23% |
4,034,483
+49,142
| +1% | +$15.8M |
|
13
Liberty Global Class A
LBTYA
$3.63B
| $1.39B | 2.21% |
51,144,602
+186,800
| +0.4% | +$5.04M |
|
|
FISV
14
Fiserv Inc
FISV
$28B
| $1.29B | 2.06% |
12,101,183
+3,828,834
| +46% | +$445M |
|
15
TE Connectivity
TEL
$58.9B
| $1.27B | 2.02% |
9,381,354
-322,143
| -3% | -$43.2M |
|
16
Ally Financial
ALLY
$13.1B
| $1.21B | 1.92% |
24,250,870
-1,008,475
| -4% | -$51.8M |
|
17
Hilton Worldwide
HLT
$73.5B
| $1.14B | 1.82% |
9,482,392
-56,081
| -0.6% | -$7M |
|
|
18
Netflix
NFLX
$331B
| $1.02B | 1.63% |
19,375,310
+4,595,300
| +31% | +$235M |
|
19
Comcast
CMCSA
$95.3B
| $1.02B | 1.63% |
17,897,960
+160,420
| +0.9% | +$8.97M |
|
20
Capital One
COF
$134B
| $967M | 1.54% |
6,252,506
-255,836
| -4% | -$38.6M |
|
21
Constellation Brands
STZ
$23.2B
| $944M | 1.5% |
4,036,851
+22,424
| +0.6% | +$5.26M |
|
22
CBRE Group
CBRE
$44B
| $937M | 1.49% |
10,929,455
-1,607,072
| -13% | -$137M |
|
23
Televisa
TV
$1.47B
| $924M | 1.47% |
64,718,339
-1,031,600
| -2% | -$13.2M |
|
24
Berkshire Hathaway Class B
BRK.B
$1.06T
| $913M | 1.45% |
3,284,592
+26,768
| +0.8% | +$7.48M |
|
|
SCHW
25
Charles Schwab
SCHW
$194B
| $902M | 1.44% |
12,394,664
+90,176
| +0.7% | +$6.38M |
|
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Bill Nygren's Q2 2021 Portfolio in Review
As of Q2 2021, Bill Nygren held 140 positions worth $62.8B, up 7.3% from $58.5B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Bill Nygren's Q2 2021 filing shows 3 new, 51 increased, 73 reduced and 4 closed positions. Its largest new stake was Intercontinental Exchange: 1,330,627 shares worth $158M. The largest sale was Alphabet (Google) Class C, an estimated $1.41B.
By sector, the portfolio is most concentrated in Financials at 24% of assets, down from 24% a quarter earlier, followed by Communication Services and Consumer Discretionary.
- Bill Nygren's largest Q2 2021 buy was Intercontinental Exchange: 1,330,627 shares worth $158M.
- Bill Nygren added most to Alphabet (Google) Class A in Q2 2021, an estimated $1.42B increase.
- Bill Nygren's biggest Q2 2021 reduction was Alphabet (Google) Class C, cutting an estimated $1.41B.
- Bill Nygren fully exited Armstrong World Industries in Q2 2021, selling an estimated $788K.
- Bill Nygren's ten largest holdings make up 36% of its $62.8B portfolio in Q2 2021.
- Bill Nygren opened 3 new positions and closed 4 in Q2 2021.
- Bill Nygren's portfolio value rose 7.3% quarter-over-quarter to $62.8B.
Based on Harris Associates's 13F filing for Q2 2021, filed 16 Aug 2021.