Bill Nygren

Bill Nygren

Last Update: 12-06-2016

Number of Stocks: 48
Number of New Stocks: 1

Total Value: $13,993 Mil
Q/Q Turnover: 2%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Bill Nygren Watch

  • Bill Nygren Gains MGM Resorts, Removes 3 Postions

    Bill Nygren (Trades, Portfolio), portfolio manager of the Oakmark Funds, invests in companies that trade at substantial discounts to their business value. As discussed in the fund’s prospectus, the Oakmark Select Fund seeks long-term capital appreciation based on the assumption that the company’s stock price converges to the intrinsic value over time. Nygren and his partners view each stock buy as “a piece of the business” instead of simply a stock certificate.


    The Oakmark Select Fund portfolio manager eliminated positions in LinkedIn Corp. (NYSE:LNKD), Monsanto Co. (NYSE:MON) and Fiat Chrysler Automobiles NV (NYSE:FCAU) during the third quarter. With the proceeds from these transactions, Nygren invested in 6.5 million shares of MGM Resorts International (NYSE:MGM).

      


  • Tweedy Browne Sells Halliburton, Johnson & Johnson

    Tweedy Browne is an investment partnership owned by its four managing directors, William H. Browne, John D. Spears, Thomas H. Shrager and Robert Q. Wyckoff Jr. During the third quarter the guru firm's largest sales were:


    Halliburton Co. (HAL) was reduced by 19.56% with an impact of -1.28% on the portfolio.

      


  • Bill Nygren: Joe Maddon Made the Cubs Better. Could He Do the Same for Investors?

    Bill Nygren (Trades, Portfolio) has been a manager of the Oakmark Select Fund (OAKLX) since 1996, Oakmark Fund (OAKMX) since 2000 and the Oakmark Global Select Fund (OAKWX) since 2006. He joined Harris Associates in 1983 and served as the firm's Director of Research from 1990 to 1998. He holds an M.S. in Finance from the University of Wisconsin's Applied Security Analysis Program (1981) and a B.S. in Accounting from the University of Minnesota (1980).  


  • Bill Nygren's Largest Investments of the Year

    Bill Nygren (Trades, Portfolio) is portfolio manager of the Oakmark Fund, the Oakmark Select Fund and the Oakmark Global Select Fund. The following are the best performers of his investments this year.


    Applied Materials Inc. (AMAT) with a market cap of $30.37 billion has gained 53.9% year to date. The guru's stake represents 0.84% of the company's outstanding shares and 0.15% of his total assets.

      


  • Ray Dalio's Best-Performing Investments of the Year

    Ray Dalio (Trades, Portfolio) founded Greenwich, Connecticut-based hedge fund Bridgewater Associates in 1975. Now it has more than $165 billion under management. The firm claims 13% annual returns after fees.


    Dalio owns 341 stocks with a total value of $7.977 billion. The following are his best-performing investments of the year.

      


  • Bill Nygren Comments on MGM Resorts International

    We sold our remaining shares of LinkedIn (NYSE:LNKD) and established a new position in casino operator MGM Resorts International (NYSE:MGM). We believe the recovery potential in the Las Vegas market and MGM’s profit improvement plan are both underappreciated at the current value. Meanwhile, management has been busily working to close the price-value gap on the shares by monetizing latent real estate value and improving the balance sheet. In the short time we’ve owned MGM, both the fundamentals and management actions have been consistent with our thesis.

    From Bill Nygren (Trades, Portfolio)'s Oakmark Select Fund third quarter 2016 commentary.   


  • Bill Nygren Comments on Chesapeake

    Recall that earlier in 2016, we swapped most of our Chesapeake (NYSE:CHK) stock at approximately $4 per share for the company’s bonds at $48 per $100 par value, believing the bonds offered similar upside and less downside while capturing a tax loss. Last quarter we reported that the bonds had rallied to $85 per $100 par value, and the stock was trading at $4.28. Given the relative performance of the bonds to the stock and our comfort with the improved liquidity position of the company, we elected to swap back into the stock. Today our position in Chesapeake is exclusively in the form of equity.

    From Bill Nygren (Trades, Portfolio)'s Oakmark Select Fund third quarter 2016 commentary.   


  • Bill Nygren Comments on Liberty Interactive QVC

    Our largest quarterly detractor was Liberty Interactive QVC (-21%) (QVCA). After a long period of rather stable but low single-digit growth, the company announced that sales fell by a mid-to-upper single digit amount in June, and these trends continued through July. The management team cited numerous company-specific reasons for the decline and is taking action accordingly. We continue to hold our position because we believe the company’s underlying value has only been modestly affected, relative to the decline in its share price.

    From Bill Nygren (Trades, Portfolio)'s Oakmark Select Fund third quarter 2016 commentary.   


  • Bill Nygren's Oakmark Select Fund 3rd Quarter 2016 Commentary

    The Oakmark Select Fund returned 8% for the quarter, ahead of the S&P 500’s 4% return. This brings the Fund’s return for the fiscal year ended September 30, 2016 to 12%, compared to 15% for the S&P 500.


    During the quarter, our largest contributors to performance included Alphabet (+12%), Bank of America (+18%), MasterCard (+16%), and AIG (+13%). From a sector standpoint, our stock selection in Energy, as well as our selection and allocation to Financials, had the most positive impact. We also benefitted by what we didn’t own in the quarter. For some time now, we have had trouble finding value in the Consumer Staples, Utilities and Telecommunications sectors. In these sectors, we have found that share prices appear to be valued more closely to bonds, which we believe to be unattractive at current yields. Not owning these three sectors added over 1% to our performance relative to the S&P 500.

      


  • Bill Nygren and David Herro Comment on General Electric

    General Electric (NYSE:GE), a global producer of industrial, aviation and medical goods, was the biggest detractor for the quarter. While GE has benefited from improved margins and capital allocation, shares were weak during the quarter due to concerns over the company’s 2016 guidance. After producing organic growth of 1% in the first half, the company forecasts full-year organic growth between 2-4%. GE expects its Power division will drive this growth, with planned turbine shipments nearly double what they were in the first half of the year. The market appears to believe these forecasts are aggressive and expects GE management to reduce guidance when it next reports earnings. The timing of turbine shipments is essentially irrelevant to the value of the company, and our long-term investment thesis remains entirely intact.

    From Bill Nygren (Trades, Portfolio) and David Herro (Trades, Portfolio)'s Oakmark Global Select Fund third quarter 2016 commentary.   


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