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Bill Nygren Comments on TE Connectivity

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Apr 13, 2021
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We eliminated our longstanding position in TE Connectivity (

TEL, Financial) during the quarter. The company is still selling at a discount to our estimate of its intrinsic value, but that discount has narrowed as TE's stock price has increased sharply in recent quarters. As such, we don't believe the stock is attractive enough to merit holding in a concentrated portfolio.

From

Bill Nygren (Trades, Portfolio)'s Oakmark Select Fund first-quarter 2021 shareholder commentary.

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