Bill Nygren

Bill Nygren

Last Update: 11-19-2015

Number of Stocks: 57
Number of New Stocks: 3

Total Value: $15,745 Mil
Q/Q Turnover: 8%

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

Bill Nygren Boosts Stakes in Halliburton, American Express, Caterpillar The guru also increases stakes in JPMorgan, Citigroup, Apple, FedEx
Bill Nygren (Trades, Portfolio) increased his stake in many stocks, but most of them were below 10%. He is portfolio manager of the Oakmark Fund. He 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. Read more...
Bill Nygren Comments on Omnicom Group Guru stock highlight
Omnicom Group (NYSE:OMC) has also been a strong performer for the Fund. We have held Omnicom since late 2008, and we eliminated the position in the fourth quarter as the share price approached our estimate of fair value. Read more...
Bill Nygren Comments on Amazon Guru stock highlight
Amazon (NASDAQ:AMZN) has been a great holding for the Fund, and with the share price more than doubling in 2015, we believe the business is now fairly valued. With minimal reported earnings and a very high P/E ratio, Amazon may have looked like an unusual purchase for a value-based fund when we initiated a position in April 2014. We looked past reported earnings, which were tempered by large investments for future growth, and found that the scale and core earnings power of Amazon’s business were quite impressive and under-appreciated. Read more...
Bill Nygren Comments on Ally Financial Guru stock highlight
Ally (NYSE:ALLY) was founded nearly a century ago as General Motors Acceptance Corporation. Its purpose then was to provide financing to GM dealers and retail customers. Today, Ally’s business is largely the same except that it is no longer owned by GM and now serves dealers and customers of many other automobile manufacturers, such as Ford, Chrysler and Toyota. Since Ally’s initial public offering in spring 2014, its shares have fallen over 20% while the S&P 500 has returned over 15%. Over this period, some investors have grown concerned that the business is at a cyclical peak, as U.S. auto sales are near record levels and credit losses are below long-term averages; as a result, some believe Ally’s earnings have nowhere to go but down. We believe cyclical pressures will be offset by continued internal improvements, such as funding cost reductions (as “legacy” liabilities are replaced with lower cost borrowings) and improving their capital structure. With Ally’s stock trading at just 80% of tangible book value, we believe Ally is a compelling addition to the Oakmark Fund. Read more...
Bill Nygren Comments on Amazon Guru stock highlight
We eliminated our Amazon (NASDAQ:AMZN) stake during the quarter, as the stock’s rapid climb in 2015 brought the shares up to our estimate of intrinsic value. While our holding period for Amazon (first purchased in the Fund in the second quarter of 2014) was much shorter than is typical for us, we’ve always said that turnover is simply a byproduct of the length of time required for price to converge with value. We’ll happily show high turnover when it is the result of rapid stock price appreciation. We reinvested the Amazon proceeds across existing holdings, ending the quarter with investments in 19 companies; the Fund generally holds about 20 positions. Read more...
» More Bill Nygren Articles

Commentaries and Stories

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Bill Nygren Boosts Stakes in Halliburton, American Express, Caterpillar The guru also increases stakes in JPMorgan, Citigroup, Apple, FedEx Bill Nygren,Glenn Greenberg,Pioneer Investments,Jo - Bill Nygren Boosts Stakes In Halliburton, American Express, Caterpillar
Bill Nygren (Trades, Portfolio) increased his stake in many stocks, but most of them were below 10%. He is portfolio manager of the Oakmark Fund. He 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. More...

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3 Undervalued Stock Picks From Bill Nygren The background behind 3 positions in the Oakmark Fund Bill Nygren - 3 Undervalued Stock Picks From Bill Nygren
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LONG, TECH, ENERGY, FINANCE


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Bill Nygren's 4th Quarter Commentary Nygren explains why there is no such thing as over-diversification Bill Nygren - Bill Nygren's 4th Quarter Commentary
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BILL NYGREN,OAKMARK,VALUE INVESTING,CNBC,INTERVIEW,LONG-TERM


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Bill Nygren: Why Oil Won't Stay at $30 Oakmark portfolio manager on why traditional value investing is back Bill Nygren - Bill Nygren: Why Oil Won't Stay At $30
Bill Nygren (Trades, Portfolio) of Oakmark Funds did a interview with CNBC on Tuesday where he discussed how traditional value investing is back. He spoke about selling out of Amazon (NASDAQ:AMZN) and investing in Ally Financial (NYSE:ALLY). He discussed why he owns a growth stock like Google (NASDAQ:GOOGL). Nygren also talked about energy stocks and oil prices, saying he doesn't believe that oil will stay at $30. More...

BILL NYGREN,OAKMARK,VALUE INVESTING,CNBC,INTERVIEW,LONG-TERM


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Oakmark Comments on Apache Guru stock highlight
The largest detractor for the year was Apache (NYSE:APA) (U.S.), a global oil and gas exploration and production company, whose shares fell 28%. As with most oil and gas exploration and production companies, Apache’s share price has been adversely affected by persistently weak oil and natural gas prices. In this challenging environment, the company is focused on improving capital efficiency, both through the efficient development of U.S. shale assets and the low-cost growth of international assets. Firm-wide operating costs continue to fall, and capex has decreased by almost 60% this year. We believe Apache's capital productivity is improving at a faster pace than its global peers, which helps its position on the cost curve. Apache has what we consider to be a healthy balance sheet, which should allow the company to endure a prolonged downturn, and we expect that an eventual commodity price recovery will highlight the growing value of Apache's underappreciated asset base. More...

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Oakmark Comments on Credit Suisse Group Guru stock highlight
Credit Suisse Group (XSWX:CSGN) (Switzerland) was the largest detractor for the quarter, falling 7%. Credit Suisse Group’s net new money and profits from its wealth management and asset management divisions increased in the third quarter, indicating that its fundamental performance remains solid. However, its share price suffered during the quarter due to the convergence of the preceding stock price with the new rights offering price of CHF 18 per share. Its share price was also likely hurt by external factors, especially the Financial Stability Board (FSB)’s announcement of higher capital buffer recommendations for systemically important banks. The FSB is calling for increasing the capital buffer to 16% of a banking group’s equity and debt risk-weighted assets by 2019 and to 18% by January 2022. As we have stated previously, we believe that given adequate notice, Credit Suisse Group is well equipped to contend with future capital requirements. More...

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Oakmark Comments on Alphabet Guru stock highlight
Alphabet (NASDAQ:GOOGL) (formerly Google) (U.S.), the leading Internet search engine, was the top contributor for the quarter, returning 25%. Alphabet’s share price reacted positively to third-quarter results in which both earnings and revenues exceeded market expectations. Importantly, the company also reported accelerating constant currency revenue growth of 21%. This high quality growth was the product of gains across all important segments; the fastest growth occurred in Google Sites (Search, YouTube, Gmail, etc.), which provide the company’s most profitable revenue. Alphabet’s mobile division also grew substantially, which eased concerns that the shift to mobile computing would harm the company’s profitability. We believe that Alphabet will benefit from a very strong tailwind as advertising continues to move online. More...

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Bill Nygren Comments on Chesapeake Energy Guru stock highlight
Our worst quarterly performer by far was Chesapeake Energy, down 39%, while only two other positions declined—FNF Group down 2% and Calpine down 1%. In our opinion, commodity prices have fallen to levels which, if permanent, would bankrupt much of the exploration and production sector of the oil and gas industry. However, we believe commodity prices will rise and that many investments made today in this industry will prove quite rewarding. That said, given Chesapeake (NYSE:CHK)’s financial obligations, it is without question a much riskier investment than we normally hold. Securities across Chesapeake’s capital structure have all declined sharply and, in our opinion, are now all attractively priced. We’ve shifted some of our position from common stock to somewhat less risky preferred stock, which we believe reduces risk without forfeiting upside potential. More...

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Bill Nygren Comments on Amazon Guru stock highlight
We eliminated our Amazon (NASDAQ:AMZN) stake during the quarter, as the stock’s rapid climb in 2015 brought the shares up to our estimate of intrinsic value. While our holding period for Amazon (first purchased in the Fund in the second quarter of 2014) was much shorter than is typical for us, we’ve always said that turnover is simply a byproduct of the length of time required for price to converge with value. We’ll happily show high turnover when it is the result of rapid stock price appreciation. We reinvested the Amazon proceeds across existing holdings, ending the quarter with investments in 19 companies; the Fund generally holds about 20 positions. More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Bill Nygren Comments on Ally Financial Guru stock highlight
Ally (NYSE:ALLY) was founded nearly a century ago as General Motors Acceptance Corporation. Its purpose then was to provide financing to GM dealers and retail customers. Today, Ally’s business is largely the same except that it is no longer owned by GM and now serves dealers and customers of many other automobile manufacturers, such as Ford, Chrysler and Toyota. Since Ally’s initial public offering in spring 2014, its shares have fallen over 20% while the S&P 500 has returned over 15%. Over this period, some investors have grown concerned that the business is at a cyclical peak, as U.S. auto sales are near record levels and credit losses are below long-term averages; as a result, some believe Ally’s earnings have nowhere to go but down. We believe cyclical pressures will be offset by continued internal improvements, such as funding cost reductions (as “legacy” liabilities are replaced with lower cost borrowings) and improving their capital structure. With Ally’s stock trading at just 80% of tangible book value, we believe Ally is a compelling addition to the Oakmark Fund. More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Bill Nygren Comments on Omnicom Group Guru stock highlight
Omnicom Group (NYSE:OMC) has also been a strong performer for the Fund. We have held Omnicom since late 2008, and we eliminated the position in the fourth quarter as the share price approached our estimate of fair value. More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Bill Nygren Comments on Amazon Guru stock highlight
Amazon (NASDAQ:AMZN) has been a great holding for the Fund, and with the share price more than doubling in 2015, we believe the business is now fairly valued. With minimal reported earnings and a very high P/E ratio, Amazon may have looked like an unusual purchase for a value-based fund when we initiated a position in April 2014. We looked past reported earnings, which were tempered by large investments for future growth, and found that the scale and core earnings power of Amazon’s business were quite impressive and under-appreciated. More...

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Rating: 5.0/5 (1 vote)

Oakmark Global Select Fund 4th Quarter 2015 Commentary Reflections on holdings and global market Bill Nygren - Oakmark Global Select Fund 4th Quarter 2015 Commentary
The Oakmark Global Select Fund returned 7% for the quarter ended December 31, 2015, outperforming the MSCI World Index’s 6% return. For the calendar year, the Fund returned 2%, outperforming the MSCI World Index, which lost 0.9%. The Fund has returned an average of 8% per year since its inception in October 2006, outperforming the MSCI World Index’s annualized gain of 4% over the same period. More...

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Bill Nygren's Oakmark Select Fund Q4 2015 Shareholder Letter Reflection on holdings and market Bill Nygren - Bill Nygren's Oakmark Select Fund Q4 2015 Shareholder Letter
The Oakmark Select Fund returned 7% for the quarter which matched the S&P 500 Index’s return. For all of calendar 2015, the Oakmark Select Fund declined by 4%, compared to a 1% gain for the S&P 500 Index. More...

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Bill Nygren's Oakmark Fund 4th Quarter 2015 Commentary Reflections on market and holdings Bill Nygren - Bill Nygren's Oakmark Fund 4th Quarter 2015 Commentary
The Oakmark Fund returned 5% during the fourth quarter of 2015, bringing the calendar year to a loss of 4%. These results lagged behind the S&P 500, which was up 7% for the fourth quarter and up 1% for the calendar year. We are disappointed with the Fund’s full-year results, which were hurt by significant declines in energy-related shares and relative underperformance from financials. As portfolio managers and large shareholders of the Fund, we’re not satisfied with losses, but we remain confident in our time-tested philosophy, investment process and our research team. As we have said in the past, our analysts look for three characteristics in every investment: (1) businesses selling at a discount to fair value, (2) businesses that produce sustainable value growth over time and (3) management teams that think and act like value-maximizing owners. We typically buy businesses that are trading at a significant discount to our estimate of a company’s intrinsic value and sell when the price approaches intrinsic value. With recent underperformance in several of our sectors, the valuation of the Oakmark Fund portfolio is attractively positioned toward More...

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Analyzing Oakmark Fund's Top Holdings Top position Bank of America sees EPS and revenue decline Bill Nygren - Analyzing Oakmark Fund's Top Holdings
Bill Nygren (Trades, Portfolio) is the portfolio manager of the Oakmark Fund. I think it is important to analyze key holdings from prominent fundamental-oriented hedge funds because hedge funds have more analytical resources to analyze stocks than the majority of individual investors. Let's analyze Oakmark Fund's most interesting stock selections: More...

BAC, C , MA, BILL NYGREN


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Microsoft, Intel and National Oilwell Varco Have High Dividend Yields in Bill Nygren's Portfolio Chesapeake Energy Corp., Caterpillar and Cummins are among top dividend producers Bill Nygren,Mason Hawkins,Ray Dalio,Robert Olstein - Microsoft, Intel And National Oilwell Varco Have High Dividend Yields In Bill Nygren's Portfolio
Bill Nygren (Trades, Portfolio) is portfolio manager of The Oakmark Fund, The Oakmark Select Fund and the Oakmark Global Select Fund. Nygren and his partners invest in companies they believe trade at a substantial discount to what they consider to be the true business value. More...

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Bill Nygren Cuts Stake in Omnicom Group More Than 40% Guru also reduced Alphabet and Franklin Resources Bill Nygren,Paul Tudor Jones,Louis Moore Bacon,Chr - Bill Nygren Cuts Stake In Omnicom Group More Than 40%
Bill Nygren (Trades, Portfolio) is portfolio manager of the Oakmark Fund, which is a diversified fund that seeks long-term capital appreciation by investing primarily in larger capitalization U.S. companies. The following are the stakes that Nygren reduced in the third quarter. More...

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Bill Nygren Invests in Stake in Alphabet Guru buys stake in Cummins, reduces stake in Amazon.com Bill Nygren - Bill Nygren Invests In Stake In Alphabet
Bill Nygren (Trades, Portfolio) and his partners at Oakmark Fund look for companies that are trading below their true value, then hold the shares until the businesses rise to that level. It is a strategy that has produced double-digit returns in recent years. More...

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Value Guru Bill Nygren on Value in the Oil Sector Bill Nygren tells us what he currently likes Bill Nygren - Value Guru Bill Nygren On Value In The Oil Sector
Value investor Bill Nygren (Trades, Portfolio), like every value investor, believes that price is what you pay and value is what you get. More...

Bill Nygren,oil sector,


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