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 |
ConocoPhillips
COP
|
+$482M |
| 2 |
Amazon
AMZN
|
+$343M |
| 3 |
Bank of America
BAC
|
+$291M |
| 4 |
Capital One
COF
|
+$286M |
| 5 |
Intercontinental Exchange
ICE
|
+$281M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Booking.com
BKNG
|
+$636M |
| 2 |
HCA Healthcare
HCA
|
+$440M |
| 3 |
Netflix
NFLX
|
+$374M |
| 4 |
FISV
Fiserv Inc
FISV
|
+$231M |
| 5 |
TE Connectivity
TEL
|
+$195M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 27.17% |
| 2 | Communication Services | 20.7% |
| 3 | Technology | 15.31% |
| 4 | Consumer Discretionary | 15.22% |
| 5 | Industrials | 10.33% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Alphabet (Google) Class A
GOOGL
$4.22T
| $3.83B | 7.43% |
36,900,231
+227,194
| +0.6% | +$21.8M |
|
|
2
Amazon
AMZN
$2.79T
| $2.36B | 4.59% |
22,869,031
+3,548,662
| +18% | +$343M |
|
|
FISV
3
Fiserv Inc
FISV
$28B
| $1.96B | 3.81% |
17,362,274
-2,103,499
| -11% | -$231M |
|
4
Oracle
ORCL
$422B
| $1.78B | 3.46% |
19,179,054
+18,573
| +0.1% | +$1.63M |
|
5
Charter Communications
CHTR
$17.9B
| $1.54B | 2.99% |
4,311,043
+410,343
| +11% | +$153M |
|
6
Salesforce
CRM
$171B
| $1.54B | 2.99% |
7,714,470
-435,100
| -5% | -$73.5M |
|
|
7
Capital One
COF
$134B
| $1.47B | 2.86% |
15,326,877
+2,729,367
| +22% | +$286M |
|
|
CNH
8
CNH Industrial
CNH
$19.1B
| $1.45B | 2.82% |
95,024,122
+3,632,477
| +4% | +$58.8M |
|
|
9
Bank of America
BAC
$431B
| $1.44B | 2.8% |
50,482,810
+8,814,630
| +21% | +$291M |
|
10
General Motors
GM
$77.2B
| $1.41B | 2.74% |
38,415,673
-960,693
| -2% | -$36.3M |
|
11
KKR & Co
KKR
$97.4B
| $1.4B | 2.72% |
26,656,801
+24,635
| +0.1% | +$1.32M |
|
|
12
HCA Healthcare
HCA
$92.9B
| $1.3B | 2.53% |
4,938,692
-1,732,273
| -26% | -$440M |
|
|
13
Intercontinental Exchange
ICE
$90.5B
| $1.28B | 2.49% |
12,300,265
+2,695,339
| +28% | +$281M |
|
14
CBRE Group
CBRE
$44B
| $979M | 1.9% |
13,442,723
-218,547
| -2% | -$17.9M |
|
15
Ryanair
RYAAY
$28.9B
| $957M | 1.86% |
25,385,518
-1,830,812
| -7% | -$67.6M |
|
16
Warner Bros
WBD
$71.6B
| $911M | 1.77% |
60,312,666
-593,429
| -1% | -$8.45M |
|
|
17
TE Connectivity
TEL
$58.9B
| $902M | 1.75% |
6,880,451
-1,539,651
| -18% | -$195M |
|
18
Parker-Hannifin
PH
$126B
| $892M | 1.73% |
2,655,114
-108,687
| -4% | -$36M |
|
19
Willis Towers Watson
WTW
$31.8B
| $857M | 1.66% |
3,686,127
-243,545
| -6% | -$58.9M |
|
20
Wells Fargo
WFC
$254B
| $848M | 1.65% |
22,688,311
+1,824,613
| +9% | +$79.5M |
|
21
EOG Resources
EOG
$80.3B
| $828M | 1.61% |
7,224,872
+1,106,421
| +18% | +$134M |
|
22
American International
AIG
$39.8B
| $797M | 1.55% |
15,822,414
-316,356
| -2% | -$18.5M |
|
|
23
Booking.com
BKNG
$158B
| $673M | 1.31% |
6,343,375
-6,538,400
| -51% | -$636M |
|
|
24
ConocoPhillips
COP
$162B
| $667M | 1.3% |
6,725,979
+4,407,253
| +190% | +$482M |
|
25
Ally Financial
ALLY
$13.1B
| $662M | 1.28% |
25,964,238
-33,448
| -0.1% | -$959K |
|
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Bill Nygren's Q1 2023 Portfolio in Review
As of Q1 2023, Bill Nygren held 158 positions worth $51.5B, up 4.9% from $49.1B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Bill Nygren's Q1 2023 filing shows 15 new, 49 increased, 83 reduced and 9 closed positions. Its largest new stake was Truist Financial: 5,620,804 shares worth $192M. The largest sale was Booking.com, an estimated $636M.
By sector, the portfolio is most concentrated in Financials at 27% of assets, down from 28% a quarter earlier, followed by Communication Services and Technology.
- Bill Nygren's largest Q1 2023 buy was Truist Financial: 5,620,804 shares worth $192M.
- Bill Nygren added most to ConocoPhillips in Q1 2023, an estimated $482M increase.
- Bill Nygren's biggest Q1 2023 reduction was Booking.com, cutting an estimated $636M.
- Bill Nygren fully exited Philips in Q1 2023, selling an estimated $186M.
- Bill Nygren's ten largest holdings make up 36% of its $51.5B portfolio in Q1 2023.
- Bill Nygren opened 15 new positions and closed 9 in Q1 2023.
- Bill Nygren's portfolio value rose 4.9% quarter-over-quarter to $51.5B.
Based on Harris Associates's 13F filing for Q1 2023, filed 15 May 2023.