Bill Nygren

Bill Nygren

Last Update: 09-11-2017

Number of Stocks: 51
Number of New Stocks: 1

Total Value: $16,939 Mil
Q/Q Turnover: 3%

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 (%)
201618.3511.966.4
2015-3.951.38-5.3
201411.5113.69-2.2
3-Year Cumulative26.8 (8.2%/year)29 (8.9%/year)-2.2 (-0.7%/year)
201337.2932.394.9
201220.97165.0
5-Year Cumulative110.5 (16.1%/year)98.2 (14.7%/year)12.3 (1.4%/year)
20111.822.11-0.3
201012.1815.06-2.9
200944.7726.4618.3
2008-32.61-374.4
2007-3.645.49-9.1
10-Year Cumulative126.1 (8.5%/year)95.7 (6.9%/year)30.4 (1.6%/year)
200618.2615.792.5
2005-1.314.91-6.2
200411.7310.880.8
200325.328.68-3.4
2002-14.41-22.17.7
15-Year Cumulative216.1 (8%/year)164.2 (6.7%/year)51.9 (1.3%/year)
200118.29-11.8930.2
200011.78-9.120.9
1999-10.4721.04-31.5
19983.7328.58-24.8
199732.5933.36-0.8
20-Year Cumulative414.7 (8.5%/year)339.2 (7.7%/year)75.5 (0.8%/year)
199616.2122.96-6.8
199534.4237.58-3.2
19943.311.322.0
199330.510.0820.4
199248.97.6241.3
25-Year Cumulative1514.1 (11.8%/year)791.8 (9.1%/year)722.3 (2.7%/year)

Top Ranked Articles

Losers Average Losers Some thoughts on buying more of a stock when intrinsic value is declining
In a recent interview with Outlook Business, value investor Bill Nygren (Trades, Portfolio) of the Oakmark Fund shared an important lesson that he picked up from Paul Tudor Jones (Trades, Portfolio) (bold added for emphasis): Read more...
GuruFocus Value Conference 2018 Announcement Early bird registration is now open
We are excited to announce that GuruFocus Value Conference 2018 is now open for registration. We are in the process of lining up a list of great speakers. The candidates include some of the greatest value investors including Prem Watsa (Trades, Portfolio), Chuck Royce (Trades, Portfolio), Chuck Akre (Trades, Portfolio), Howard Marks (Trades, Portfolio), Read more...
Herro and Nygren Comment on Lloyds Guru stock highlight
We have been following Lloyds (NYSE:LYG) for some time, and the U.K.’s recent decision to withdraw from the European Union translated to a decline in Lloyds’ share price. In our estimation, this price drop greatly exceeded any actual loss of intrinsic value of the company, and we believe Lloyds is undervalued relative to its normalized earnings power. Read more...
Bill Nygren Comments on Delphi Automotive PLC Guru stock highlight
Delphi (NYSE:DLPH) is an automobile parts supplier that is well positioned for the secular trends that will continue to drive the auto industry. We believe Delphi will benefit from increasing governmental regulations for safety, fuel efficiency and emissions control, as well as rapidly growing consumer demand for vehicle connectivity. Since Delphi’s initial public offering in 2010, we find the company has generated robust sales and earnings growth along with ample free cash flow. Despite strong fundamental performance, the stock trades at a discount to the market P/E as well as our estimate of intrinsic value due to concerns about the U.S. auto cycle, short term uncertainty in China and an uncharacteristic downward revision to earnings guidance in 2016. We believe these headwinds will prove temporary and that the company’s performance will improve. Read more...
David Herro and Bill Nygren Comment on GE Guru stock highlight
GE (NYSE:GE), a global producer of industrial, household and medical goods, was the largest detractor for the quarter, declining 9%. Shares were weak due to the company’s exposure to energy end markets (which was increased via its merger with Baker Hughes, a contrarian acquisition we believe will prove to be well timed). The stock was also hurt by an analyst downgrade during the quarter, which cited concerns that GE’s cash flows were lagging behind the company’s reported profits. In our view, this concern will prove to be irrelevant to the long-term investment case, as two of GE’s longest cycle businesses (aviation and power) are in the midst of their largest new product launches ever, both of which require large investments in inventory and other working capital accounts that will reverse over time. In addition, GE has recently worked to reinvent its portfolio and possesses a renewed focus on achieving appropriate capital returns. As such, the company completely revamped its variable compensation plan for thousands of employees who are now paid on a number of factors that emphasize improving its return on invested capital. Read more...
» More Bill Nygren Articles

Commentaries and Stories

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6 Cheap Stocks With Growing Book Values Aflac, Snap-On, Apple with margins of safety and rising BV/S Bill Nygren,Andreas Halvorsen,John Rogers,Jeremy G - 6 Cheap Stocks With Growing Book Values
According to GuruFocus’ All-In-One Screener, the following companies have grown their book values per share (BV/S) over the past decade. More...

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Losers Average Losers Some thoughts on buying more of a stock when intrinsic value is declining Bill Nygren,Paul Tudor Jones - Losers Average Losers
In a recent interview with Outlook Business, value investor Bill Nygren (Trades, Portfolio) of the Oakmark Fund shared an important lesson that he picked up from Paul Tudor Jones (Trades, Portfolio) (bold added for emphasis): More...

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Bill Nygren Tells CNBC He Increased His Stake in GE Oakmark portfolio manager discusses the company's merits Bill Nygren - Bill Nygren Tells CNBC He Increased His Stake In GE
Bill Nygren (Trades, Portfolio), Oakmark Fund portfolio manager, appeared on CNBC Tuesday afternoon to discuss his addition to his holding in General Electric (NYSE:GE). More...

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Bill Nygren and David Herro's Oakmark Global Select Fund: Third Quarter 2017 Commentary Review of holdings and market David Herro,Bill Nygren - Bill Nygren And David Herro's Oakmark Global Select Fund: Third Quarter 2017 Commentary
The Oakmark Global Select Fund returned 26.4% for the fiscal year, ended September 30, 2017, outperforming the MSCI World Index, which returned 18.2% for the same period. For the most recent quarter, the Fund returned 4.7%, underperforming the MSCI World Index, which returned 4.8%. The Fund has performed well versus the MSCI World Index since inception, returning on average 9.0% versus 5.6% for the benchmark. More...

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Bill Nygren's Oakmark Select Fund Third Quarter 2017 Review of holdings and market Bill Nygren - Bill Nygren's Oakmark Select Fund Third Quarter 2017
The Oakmark Select Fund returned 5.9% for the quarter, ahead of the S&P 500’s 4.5% return. This brings the Fund’s return for the fiscal year, ended September 30, 2017, to 22.6%, compared to 18.6% for the S&P 500. Please do not expect this level of absolute and relative performance every quarter or year, but we hope you enjoy them like we do as fellow investors in the Fund. We are also gratified to report the Fund ended the quarter at a new all-time high NAV, meaning that as of September 30, all current Select shareholders have unrealized gains in their holdings. More...

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Bill Nygren's Oakmark Fund Third Quarter 2017 Commentary Review of holdings and market Bill Nygren - Bill Nygren's Oakmark Fund Third Quarter 2017 Commentary
The Oakmark Fund increased 5.8% during the third quarter, bringing the increase to 23.8% for the fiscal year ended September 30. The Fund’s strong performance outpaced S&P 500 gains of 4.5% for the third quarter and 18.6% for the past 12 months. This was a very good quarter and fiscal year for the Oakmark Fund, and the Fund hit an all-time high adjusted NAV for the fifth quarter in a row. As value investors, we patiently wait for the gap between a company’s stock price and our estimate of intrinsic value to close, and over the past 12 months, the gaps have narrowed. We are pleased that the strongest contribution has come from our highest weighted sectors, financials and information technology. More...

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Harris Associates' Commentary: Patience Is a Virtue From Daniel Nicholas Bill Nygren - Harris Associates' Commentary: Patience Is A Virtue
Daniel Nicholas is a Client Portfolio Manager at Harris Associates across all of the firm’s investment strategies. Prior to serving in this role, he was the Director, Institutional Sales for the firm. Before he joined Harris Associates in 2012, he was an Executive Director at Morgan Stanley as well as UBS. He holds an MS in Finance from the University of Wisconsin-Madison (2001) and a BBA from the University of Wisconsin-Madison (1999). More...

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Bill Nygren Added Charter Communications in 2nd Quarter Fund manager also trimmed 3 other positions Bill Nygren, Steven Cohen, David Dreman - Bill Nygren Added Charter Communications In 2nd Quarter
Oakmark Fund manager Bill Nygren (Trades, Portfolio) invests in companies that trade at a significant discount to the expected intrinsic value. During the second quarter, Nygren invested in Charter Communications Inc. (NASDAQ:CHTR) and trimmed his positions in Anadarko Petroleum Corp. (NYSE:APC), Microsoft Corp. (NASDAQ:MSFT) and AutoNation Inc. (NYSE:AN). More...

BILL NYGREN, STEVEN COHEN, DAVID DREMAN


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GuruFocus Value Conference 2018 Announcement Early bird registration is now open Bill Nygren,Chuck Akre - GuruFocus Value Conference 2018 Announcement
We are excited to announce that GuruFocus Value Conference 2018 is now open for registration. We are in the process of lining up a list of great speakers. The candidates include some of the greatest value investors including Prem Watsa (Trades, Portfolio), Chuck Royce (Trades, Portfolio), Chuck Akre (Trades, Portfolio), Howard Marks (Trades, Portfolio), More...

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David Herro and Bill Nygren Comment on GE Guru stock highlight
GE (NYSE:GE), a global producer of industrial, household and medical goods, was the largest detractor for the quarter, declining 9%. Shares were weak due to the company’s exposure to energy end markets (which was increased via its merger with Baker Hughes, a contrarian acquisition we believe will prove to be well timed). The stock was also hurt by an analyst downgrade during the quarter, which cited concerns that GE’s cash flows were lagging behind the company’s reported profits. In our view, this concern will prove to be irrelevant to the long-term investment case, as two of GE’s longest cycle businesses (aviation and power) are in the midst of their largest new product launches ever, both of which require large investments in inventory and other working capital accounts that will reverse over time. In addition, GE has recently worked to reinvent its portfolio and possesses a renewed focus on achieving appropriate capital returns. As such, the company completely revamped its variable compensation plan for thousands of employees who are now paid on a number of factors that emphasize improving its return on invested capital. More...

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David Herro and Bill Nygren Comment on CNH Industrial Guru stock highlight
CNH Industrial (NYSE:CNHI), a global agricultural and construction equipment manufacturer, was the top contributor for the quarter, returning 18%. The company delivered positive first quarter earnings, as both its revenue and earnings exceeded consensus estimates. The industrial business saw an improvement with its year-over-year earnings increasing 34%, driven primarily by a 77% improvement in the agriculture equipment segment. The industry has seen stabilization in global agricultural equipment markets and is beginning to see the early stages of restocking. Also during the quarter, S&P raised CNH’s credit rating to investment grade, which should allow the company to improve its balance sheet efficiency and refinance its debt at lower rates. More...

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David Herro and Bill Nygren's Oakmark Global Select Fund Commentary for 2nd Quarter 2017 Review of holdings and markets David Herro,Bill Nygren - David Herro And Bill Nygren's Oakmark Global Select Fund Commentary For 2nd Quarter 2017
The Oakmark Global Select Fund returned 6.2% for the quarter ended June 30, 2017, outperforming the MSCI World Index’s 4.0% return. Most importantly, the Fund has returned an average of 8.8% per year since its inception in October 2006, outperforming the MSCI World Index’s annualized gain of 5.3% over the same period. More...

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Bill Nygren Comments on Charter Communications Guru stock highlight
Charter Communications (CHTR - $331) More...

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Bill Nygren's Oakmark Fund Second Quarter 2017 Commentary Letter from the guru Bill Nygren - Bill Nygren's Oakmark Fund Second Quarter 2017 Commentary
The Oakmark Fund increased 3.8% in the second quarter of 2017, which was ahead of the 3.1% gain for the S&P 500 Index. This was the fourth quarter in a row in which the Oakmark Fund hit an all-time high adjusted NAV. Broader market strength continued in the second quarter despite lingering concerns about healthcare and tax reform, as well as a drop in energy commodity prices. As was the case in the first quarter, weakening oil prices hurt the performance of our energy holdings during the second quarter, but we remain confident in the long-term outlook for these businesses. With no change in our fundamental outlook for our energy businesses, the lower share prices represented an opportunity to increase the return potential of the portfolio, and accordingly, we added to most of our energy holdings during the quarter. More...

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Gurus’ Holdings With Negative Performances Worst-performing assets in gurus' portfolios Dodge & Cox,Bill Nygren,HOTCHKIS & WILEY,Joel Gree - Gurus’ Holdings With Negative Performances
While gurus hold positions in these companies, the stock prices and returns continue to fall. These are the worst-performing stocks over the last three months with a long-term presence in more than three gurus’ portfolios. More...

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Bill Nygren Gains 3 Holdings, Divests 2 Others in 1st Quarter Guru releases quarterly portfolio Bill Nygren,Chris Davis,Mason Hawkins,Warren Buffe - Bill Nygren Gains 3 Holdings, Divests 2 Others In 1st Quarter
Oakmark Funds’ Bill Nygren (Trades, Portfolio) established three positions and sold two others during the first quarter. More...

OAKMARK,NYGREN, 1Q, TRADES, BUYS, SELLS


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Nygren Sticks to Bottom-Up, Long-Term Value Bill Nygren and the partners at Harris Associates wanted to 'eat their own cooking' so they set up Oakmark Funds Bill Nygren - Nygren Sticks To Bottom-Up, Long-Term Value
When Bill Nygren (Trades, Portfolio) was growing up, his mother regularly went bargain hunting to stretch the family’s purchasing power. More...

GURUS, INVESTMENT GURUS, BILL NYGREN, OAKMARK, HARRIS ASSOCIATES, VALUE INVESTING, BOTTOM-UP, LONG-TERM


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Maybe US Stocks Aren't Overvalued - Bill Nygren Oakmark manager comments on GM and David Einhorn Bill Nygren - Maybe US Stocks Aren't Overvalued - Bill Nygren
Over the past 50 years, the trailing price-to-earnings ratio for the S&P 500 has averaged 16.1x. At the end of 2016 that ratio was 20.6x. Many investors have used that number or other variations to conclude that the current market is expensive and have therefore shifted their asset allocation away from equities. More...

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Bill Nygren Comments on Moody’s Guru stock highlight
Moody’s (NYSE:MCO) provides essential information to the world’s capital markets. We have a long history with Moody’s, dating back to the 1990s when it was a part of Dun & Bradstreet. The stock briefly traded for less than 17x 2018 earnings estimates because investors feared that rising interest rates and changing tax policies would depress debt issuance. Although such events would likely result in slower growth in the short term, we believe the company’s long-term prospects remain compelling. Bonds issued with a Moody’s rating pay meaningfully lower interest rates than those without a Moody’s rating, and the price paid to Moody’s is much lower than the interest savings the issuer realizes. We believe this will create consistent demand for bond ratings as debt markets grow. Management is cognizant of the value that the Moody’s rating provides, and they are able to steadily raise prices year after year. In our view, Moody’s is a great business with growing profits, run by a management team we’ve known and respected for years, and the shares trade at a price that is well below our estimate of intrinsic value. More...

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Bill Nygren Comments on Delphi Automotive PLC Guru stock highlight
Delphi (NYSE:DLPH) is an automobile parts supplier that is well positioned for the secular trends that will continue to drive the auto industry. We believe Delphi will benefit from increasing governmental regulations for safety, fuel efficiency and emissions control, as well as rapidly growing consumer demand for vehicle connectivity. Since Delphi’s initial public offering in 2010, we find the company has generated robust sales and earnings growth along with ample free cash flow. Despite strong fundamental performance, the stock trades at a discount to the market P/E as well as our estimate of intrinsic value due to concerns about the U.S. auto cycle, short term uncertainty in China and an uncharacteristic downward revision to earnings guidance in 2016. We believe these headwinds will prove temporary and that the company’s performance will improve. More...

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