Bill Nygren

Bill Nygren

Last Update: 08-24-2016

Number of Stocks: 51
Number of New Stocks: 1

Total Value: $14,434 Mil
Q/Q Turnover: 2%

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

Bill Nygren' s Profile & Performance

Profile

Bill Nygren is Portfolio Manager of The Oakmark Fund, The Oakmark Select Fund, and the Oakmark Global Select Fund. Bill has an M.S. in Finance from the University of Wisconsin-Madison, and a B.S. in Accounting from the University of Minnesota.

Web Page:http://www.oakmark.com/

Investing Philosophy

Bill Nygren and his partners are value investors, and they invest in companies that they believe trade at a substantial discount to what they consider to be the true business value. They believe that, over time, the price of a stock will rise to reflect the value of the underlying company. In evaluating potential investments, they focus on the following characteristics: A company's stock price and whether it is a significant discount to their estimate of underlying business value, free cash flows and intelligent investment of excess cash, and a high level of manager ownership. They look at each purchase as if they are buying a piece of a business, and not just a stock certificate.

Historical Allocation of Stock, Bonds, Cash

Total Holding History

Performance of Oakmark Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
2015-3.951.19-5.1
201411.5113.69-2.2
201337.2932.394.9
3-Year Cumulative47 (13.7%/year)52.3 (15.1%/year)-5.3 (-1.4%/year)
201220.97165.0
20111.822.11-0.3
5-Year Cumulative81.1 (12.6%/year)80.4 (12.5%/year)0.7 (0.1%/year)
201012.1815.06-2.9
200944.7726.4618.3
2008-32.61-374.4
2007-3.645.49-9.1
200618.2615.792.5
10-Year Cumulative125.9 (8.5%/year)102 (7.3%/year)23.9 (1.2%/year)
2005-1.314.91-6.2
200411.7310.880.8
200325.328.68-3.4
2002-14.41-22.17.7
200118.29-11.8930.2
15-Year Cumulative216 (8%/year)107.5 (5%/year)108.5 (3%/year)
200011.78-9.120.9
1999-10.4721.04-31.5
19983.7328.58-24.8
199732.5933.36-0.8
199616.2122.96-6.8
20-Year Cumulative405.4 (8.4%/year)381.4 (8.2%/year)24 (0.2%/year)
199534.4237.58-3.2
19943.311.322.0
199330.510.0820.4
199248.97.6241.3

Top Ranked Articles

Financial Stocks’ Weakness Attractive to Oakmark’s Nygren – Top Picks Nygren is buying low-price financials, while Bill Gross says the sector won't get better
In search of a great unloved sector, Oakmark Funds’ Bill Nygren (Trades, Portfolio) vouched for financial stocks in 2016. He had 18 in this portfolio at the end of the fourth quarter, and in spite of their downward slide this year he hasn’t changed his mind. Read more...
Carl Icahn Gives Statement on Selling Chesapeake Energy at Loss Icahn cuts one of his several energy losers
Carl Icahn (Trades, Portfolio) gave up half his stake in Chesapeake Energy Corp. (NYSE:CHK) on Monday at a sizable loss. Read more...
Fiat Chrysler Recalls Vehicles Over Transmission Problems Action affects more than 1 million vehicles in North American, international markets
London-based Fiat Chrysler Automobiles (NYSE:FCAU), the seventh-largest automaker in the world, announced Friday that it would recall more than 1 million vehicles because they can roll abruptly and, as a result, cause damage and/or injuries if the transmission is being used incorrectly. Read more...
Bill Nygren Gets Better Than Fair Value for 3 Stakes Only divestitures of American Express, Union Pacific were short of calculations
Bill Nygren (Trades, Portfolio) of Oakmark Fund sold more stakes in the first quarter – five – than he had in more than a year. In all but two of those transactions, he sold the shares for well in excess of their fair values. Read more...
Alphabet and Bank Stocks Lead Buying List for Bill Nygren Equity valuations in the current market and top stocks to buy
As the market has fallen following the United Kingdom’s vote to exit the European Union, investors are becoming fearful of what may be in store and where to invest in the current market environment. While the U.K. is not shutting down, its new negotiation of trade agreements will challenge its own trade balance, allow for other countries to take a stronger lead and weaken its currency. Read more...
» More Bill Nygren Articles

Commentaries and Stories

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Tweedy Browne Sells Halliburton, Johnson & Johnson An overview of the fund's largest trades in the 3rd quarter Tweedy Browne,Bill Nygren,Spiros Segalas,First Pac - 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: More...

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Bill Nygren: Joe Maddon Made the Cubs Better. Could He Do the Same for Investors? Oakmark investors draws investing lessons from Cubs win Bill Nygren - 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). More...

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Bill Nygren's Largest Investments of the Year Holdings with the highest returns year to date Bill Nygren,T Rowe Price Equity Income Fund,PRIMEC - 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. More...

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Ray Dalio's Best-Performing Investments of the Year His holdings with the largest returns year to date Ray Dalio,Bill Nygren,PRIMECAP Management,Jim Simo - 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. More...

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Bill Nygren Comments on MGM Resorts International Guru stock highlight
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. More...

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Bill Nygren Comments on Chesapeake Guru stock highlight
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. More...

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Bill Nygren Comments on Liberty Interactive QVC Guru stock highlight
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. More...

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Bill Nygren's Oakmark Select Fund 3rd Quarter 2016 Commentary Review of quarter and holdings Bill Nygren - 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. More...

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Bill Nygren and David Herro Comment on General Electric Guru stock highlight
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. More...

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Bill Nygren and David Herro Comment on Credit Suisse Guru stock highlight
Credit Suisse (NYSE:CS), a Swiss financial services group, was the largest detractor from performance for the fiscal year. Credit Suisse’s share price has been weak over the past year for multiple reasons. The company’s investment banking results have struggled, although we recognize the underperformance is partially due to restructuring activity and we expect performance to strengthen once restructuring is complete. One-off expenses related to litigation, pension true-up charges and write-downs on certain credit assets also hurt performance. Additionally, the U.K.’s decision to leave the European Union negatively impacted the share price. Credit Suisse’s management has responded to these challenges with a series of restructuring measures. Its management has made progress expanding its wealth management franchise, which we believe is a good move since that business is fee based, requires little capital and has very good secular growth trends. Additionally, Credit Suisse has reduced its exposure to the global markets business, which has enabled it to de-risk its balance sheet and operate with a more efficient cost structure. More...

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Bill Nygren and David Herro Comment on Apache Guru stock highlight
The largest contributor to performance for the fiscal year was Apache (NYSE:APA), a global oil and gas exploration company, which returned 66%. Oil prices have been volatile over the past year, but have rebounded in 2016 thus far. Apache has specifically benefitted from solid quarterly results that have demonstrated improved capital efficiency, including a 45% decline in North American well costs compared to 2014 levels. The company also announced the discovery of a new resource play in the Permian Basin called “Alpine High.” Initial results indicate that Apache has discovered a high quality resource at a low cost. This increased our estimate of intrinsic value and also increased our confidence in management. In our view, Apache has the balance sheet and asset quality to survive continued volatility in oil and gas prices, and we like how the management team is preserving and growing per share value during the commodity price downturn. More...

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Bill Nygren and David Herro Comment on LafargeHolcim Guru stock highlight
LafargeHolcim (XSWX:LHN), the largest cement maker in the world, was the largest contributor to performance for the quarter, returning 30%. Shares reacted positively to news that LafargeHolcim agreed to sell Lafarge India for approximately $1.4B with proceeds going to pay down debt. We are impressed with the progress management has made on defining and implementing true synergies following the merger. Additionally, second quarter results exceeded expectations and illustrated Europe’s improving pricing environment. Management reaffirmed its 2016 outlook as well as its commitment to targets set for 2018. More...

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Bill Nygren Comments on MGM Resorts International Guru stock highlight
We believe there are many ways to achieve strong returns from an investment in MGM Resorts International. MGM (NYSE:MGM) is a recovery story, driven by improving supply and demand in Las Vegas where MGM has significant exposure. The company’s Profit Growth Plan, which is a cost-cutting and revenue enhancement program, should lead to higher profitability and allow for significant operating leverage once sales recover. From a longer term perspective, we believe MGM will benefit from its increasing geographic diversity, strong property development pipeline and improving capital structure. We think that valuing MGM on a property-by-property basis using cash flow multiples from recent transactions produces a much higher value than the current stock price indicates. More...

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Bill Nygren and David Herro's Oakmark Global Select Fund 3rd Quarter Commentary Review of quarter and holdings Bill Nygren,David Herro - Bill Nygren And David Herro's Oakmark Global Select Fund 3rd Quarter Commentary
The Oakmark Global Select Fund returned 10% for the fiscal year ended September 30, 2016, underperforming the MSCI World Index, which returned 11% for the same period. For the most recent quarter, the Fund returned 10%, outperforming the MSCI World Index, which returned 5%. The Fund has performed well versus the MSCI World Index since inception, returning on average 7% versus 4% for the benchmark. More...

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Bill Nygren 3rd Quarter Market Commentary Analysis of the quarter Bill Nygren - Bill Nygren 3rd Quarter Market Commentary
“The years say what the days cannot tell.” More...

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Bill Nygren's Oakmark Fund 3rd Quarter 2016 Commentary Review of quarter and holdings Bill Nygren - Bill Nygren's Oakmark Fund 3rd Quarter 2016 Commentary
This quarter marks the 25th anniversary of the Oakmark Fund, and we are proud of our long-term results and pleased to mark the occasion with an all-time high adjusted NAV at quarter end. As you can see from the Growth of a $10,000 Investment chart (see chart below), a $10,000 investment in the Oakmark Fund in August 1991 has appreciated to $194,000 as of the end of this quarter, which is more than twice the appreciation level of the S&P 500 over the same time period. This represents an average annual total return of 13% for the Oakmark Fund and 9% for the S&P 500. More...

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18 Questions With Kevin Holloway 'I work for a government contractor specializing in asset forfeiture investigations. In some ways it is quite similar to the process of investing' Bill Nygren,Glenn Greenberg - 18 Questions With Kevin Holloway
Kevin Holloway is the owner of the Just Value blog. More...

INTERVIEW, INVESTING, VALUE


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Bill Nygren Sells Franklin Resources, Monsanto and Whirlpool Guru's largest 2nd quarter trades Bill Nygren - Bill Nygren Sells Franklin Resources, Monsanto And Whirlpool
Bill Nygren (Trades, Portfolio) is portfolio manager of the Oakmark Fund, the Oakmark Select Fund and the Oakmark Global Select Fund. The following are his largest second quarter sells. More...

NYGREN, OAKMARK, SELLS


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Carl Icahn Gives Statement on Selling Chesapeake Energy at Loss Icahn cuts one of his several energy losers Carl Icahn,Bill Nygren - Carl Icahn Gives Statement On Selling Chesapeake Energy At Loss
Carl Icahn (Trades, Portfolio) gave up half his stake in Chesapeake Energy Corp. (NYSE:CHK) on Monday at a sizable loss. More...

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Bill Nygren Acquires Stake in LinkedIn Company is the world's largest professional network Bill Nygren - Bill Nygren Acquires Stake In LinkedIn
Bill Nygren (Trades, Portfolio) purchased a 1.3 million-share stake in LinkedIn (NYSE:LNKD) at an average price of $138.20 during the second quarter. More...

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