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Oak Mark Fund Buys JPMorgan Chase, 3M Co, Sells Bristol-Myers, Beam Inc, McDonalds Corp

gurufocus

gurufocus

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Bill Nygren was once a hot fund manager who achieved marketing beating track record by making Washington Mutual his largest holdings for long time. Washington Mutual was paying rich dividend to shareholders. But things turned out expectedly worse at the larges S&L in the country. Bill Nygren sold his positions before the bankruptcy. Over the past 10-year and 5-year period, Bill Nygren still delivered market beating returns.

This is an overview of his portfolio moves during the fourth quarter. As of 12/31/2011, Oak Mark Fund owns 57 stocks with a total value of $4.8 billion. These are the details of the buys and sells.

This is the portfolio chart of Bill Nygren. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.



For the details of Bill Nygren's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Bill+Nygren

This is the sector weightings of his portfolio:

Not Assigned 62%
Consumer Services 10.1%
Technology 8%
Industrials 8%
Oil & Gas 5.4%
Consumer Goods 2.6%
Financials 1.9%
Health Care 1.9%


These are the top 5 holdings of Bill Nygren

  1. Time Warner Inc (TWX) - 3,392,566 shares, 2.6% of the total portfolio.
  2. Comcast Corp A (CMCSA) - 5,190,000 shares, 2.6% of the total portfolio.
  3. Intel Corp (INTC) - 5,000,000 shares, 2.5% of the total portfolio.
  4. Te Connect-Ltd (TEL) - 3,709,500 shares, 2.4% of the total portfolio. Shares added by 13.81%
  5. Omnicom Grp (OMC) - 2,576,254 shares, 2.4% of the total portfolio.


New Purchase: Delphi Auto Plc (DLPH)

Bill Nygren initiated holdings in Delphi Auto Plc. His purchase prices were between $19.63 and $22.13, with an estimated average price of $21.06. The impact to his portfolio due to this purchase was 0.37%. His holdings were 816,906 shares as of 12/31/2011. Delphi Automotive PLC is a vehicle components manufacturer and provides electrical and electronic, powertrain, safety and thermal technology solutions to the global automotive and commercial vehicle markets. Delphi Auto Plc has a market cap of $10.3 billion; its shares were traded at around $31.29 with and P/S ratio of 0.6.

This is the commentary of Bill Nygren on Delphi:

Delphi is a global leader in auto-parts manufacturing. Like its former parent company, GM, Delphi had a labor force that had accumulated such large post-retirement benefits that there was no value left for the owners of the business. Those liabilities forced Delphi into a 2005 bankruptcy filing. Through the bankruptcy process, Delphi was able to exit product lines where it had no competitive advantage, and it was able to give back to GM all of its UAW workers and their related post-retirement liabilities. The company returned to the public market via an IPO in November. Normally IPOs trading just below their offering price don’t strike us as values because the sellers tend to cherry-pick their timing. In Delphi's case, however, we believe the timing of the IPO had less to do with valuation than it did with its owners' need for liquidity. Delphi is expected to report EPS of about $3 for the year just ended. We expect that number to grow to about $4 over a couple of years due to emerging-market growth and a cyclical recovery in developed markets. We consider seven times trailing earnings and just over five times our estimate of 2013 earnings to be a bargain price for this industry leader.

Sold Out: Bristol-Myers (BMY)

Bill Nygren sold out his holdings in Bristol-myers. His sale prices were between $30.15 and $35.29, with an estimated average price of $32.54.

Sold Out: Beam Inc (BEAM)

Bill Nygren sold out his holdings in Beam Inc. His sale prices were between $44.75 and $54.2, with an estimated average price of $48.71.

Added: JPMorgan Chase (JPM)

Bill Nygren added to his holdings in Jpmorgan Chase by 35.71%. His purchase prices were between $28.38 and $37.02, with an estimated average price of $32.3. The impact to his portfolio due to this purchase was 0.63%. His holdings were 3,420,000 shares as of 12/31/2011.

Added: 3M Co (MMM)

Bill Nygren added to his holdings in 3m Co by 32.98%. His purchase prices were between $70.93 and $82.29, with an estimated average price of $78.95. The impact to his portfolio due to this purchase was 0.42%. His holdings were 1,008,000 shares as of 12/31/2011.

Added: Encana Corp (ECA)

Bill Nygren added to his holdings in Encana Corp by 34.19%. His purchase prices were between $17.8 and $22.45, with an estimated average price of $19.66. The impact to his portfolio due to this purchase was 0.36%. His holdings were 3,609,740 shares as of 12/31/2011.

Added: Best Buy (BBY)

Bill Nygren added to his holdings in Best Buy by 24.22%. His purchase prices were between $22.12 and $28.37, with an estimated average price of $25.64. The impact to his portfolio due to this purchase was 0.35%. His holdings were 3,590,000 shares as of 12/31/2011.

Added: Oracle Corp (ORCL)

Bill Nygren added to his holdings in Oracle Corp by 16.67%. His purchase prices were between $25.51 and $33.69, with an estimated average price of $30.64. The impact to his portfolio due to this purchase was 0.33%. His holdings were 4,200,000 shares as of 12/31/2011.

Added: TE Connect-ltd (TEL)

Bill Nygren added to his holdings in Te Connect-ltd by 13.81%. His purchase prices were between $27.25 and $36.34, with an estimated average price of $32.48. The impact to his portfolio due to this purchase was 0.29%. His holdings were 3,709,500 shares as of 12/31/2011.

Added: Covidien Plc (COV)

Bill Nygren added to his holdings in Covidien Plc by 17.8%. His purchase prices were between $42.16 and $48.25, with an estimated average price of $45.07. The impact to his portfolio due to this purchase was 0.29%. His holdings were 1,985,000 shares as of 12/31/2011.

Added: Ill Tool Works (ITW)

Bill Nygren added to his holdings in Ill Tool Works by 19.23%. His purchase prices were between $40.15 and $49.72, with an estimated average price of $46.05. The impact to his portfolio due to this purchase was 0.29%. His holdings were 1,860,000 shares as of 12/31/2011.

Added: Bank Of Amer Cp (BAC)

Bill Nygren added to his holdings in Bank Of Amer Cp by 34.72%. His purchase prices were between $4.985 and $7.35, with an estimated average price of $5.94. The impact to his portfolio due to this purchase was 0.28%. His holdings were 9,700,000 shares as of 12/31/2011.

Added: Aflac Inc (AFL)

Bill Nygren added to his holdings in Aflac Inc by 9.09%. His purchase prices were between $33.57 and $46.77, with an estimated average price of $42.07. The impact to his portfolio due to this purchase was 0.18%. His holdings were 2,400,000 shares as of 12/31/2011.

Added: Wells Fargo-new (WFC)

Bill Nygren added to his holdings in Wells Fargo-new by 8.3%. His purchase prices were between $23.18 and $27.785, with an estimated average price of $25.68. The impact to his portfolio due to this purchase was 0.18%. His holdings were 3,915,000 shares as of 12/31/2011.

Added: Capital One Fin (COF)

Bill Nygren added to his holdings in Capital One Fin by 5.77%. His purchase prices were between $37.75 and $47.07, with an estimated average price of $43.03. The impact to his portfolio due to this purchase was 0.13%. His holdings were 2,749,800 shares as of 12/31/2011.

Reduced: Mcdonalds Corp (MCD)

Bill Nygren reduced to his holdings in Mcdonalds Corp by 20.02%. His sale prices were between $85.83 and $100.81, with an estimated average price of $93.51. The impact to his portfolio due to this sale was -0.4%. Bill Nygren still held 799,000 shares as of 12/31/2011.

Here is the complete portfolio of Bill Nygren. Also check out the Undervalued Stocks, Top Growth Companies, and High Yield stocks of Bill Nygren.

About the author:

gurufocus
GuruFocus - Stock Picks and Market Insight of Gurus

Rating: 4.1/5 (9 votes)

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