Bill Nygren Comments on Hilton Worldwide

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Jan 11, 2019

We also started a position in Hilton Worldwide (NYSE:HLT). Our reasons to own the company are the same as when we first purchased Hilton in the Oakmark Fund in the second quarter of this year. Additionally, the company’s valuation improved as its share price fell due to broad skepticism about cyclical businesses. Our analysis of the company is based on through-cycle economics, which accounts for the cyclical gyrations of the business.

From Bill Nygren (Trades, Portfolio)'s fourth-quarter 2018 Oakmark Select Fund commentary.