Portfolio holdings of Bill Nygren - Oakmark Select Fund. Bill Nygren - Oakmark Select Fund stock picks:. Stock Holdings page.
Bill Nygren - Oakmark Select Fund
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Philosophy
We are value investors, which means that we invest in companies that we believe trade at a substantial discount to what we consider to be their true business value. We are patient investors, not market timers. We believe that, over time, the price of a stock will rise to reflect the value of the underlying company. Every stock purchase is viewed as if we were buying a piece of a business, not just a stock certificate. We believe that this approach to investing allows for significant investment returns while reducing risk.
Process
Because our analysts and portfolio managers seek to identify undervalued companies, the investment process is not based on macro-economic factors, such as the performance of the economy or the direction of interest rates. Nor is it based solely on technical factors, such as the performance of the stock market itself. Instead, we employ an intensive, in-house research process to identify companies that meet our value criteria.
While some value investors may search only for stocks with low price-earnings ratios irrespective of the companies' underlying worth, Oakmark takes a more in-depth approach. In evaluating potential investments, we focus on the following characteristics:
- A company's stock price and whether it is a significant discount to our estimate of underlying business value
- Free cash flows & intelligent investment of excess cash
- High level of manager ownership
We are value investors, which means that we invest in companies that we believe trade at a substantial discount to what we consider to be their true business value. We are patient investors, not market timers. We believe that, over time, the price of a stock will rise to reflect the value of the underlying company. Every stock purchase is viewed as if we were buying a piece of a business, not just a stock certificate. We believe that this approach to investing allows for significant investment returns while reducing risk.
Process
Because our analysts and portfolio managers seek to identify undervalued companies, the investment process is not based on macro-economic factors, such as the performance of the economy or the direction of interest rates. Nor is it based solely on technical factors, such as the performance of the stock market itself. Instead, we employ an intensive, in-house research process to identify companies that meet our value criteria.
While some value investors may search only for stocks with low price-earnings ratios irrespective of the companies' underlying worth, Oakmark takes a more in-depth approach. In evaluating potential investments, we focus on the following characteristics:
- A company's stock price and whether it is a significant discount to our estimate of underlying business value
- Free cash flows & intelligent investment of excess cash
- High level of manager ownership
Period: Q4 2023
Portfolio date: 31 Dec 2023
No. of stocks: 22
Portfolio value: $5,741,835,000
History | Stock | % of Portfolio |
RecentActivity | Shares | ReportedPrice* | Value | Current Price |
+/-Reported Price |
52Week Low |
52Week High |
|
≡ | CBRE - CBRE Group | 8.56 | Add 10.51% | 5,282,352 | $93.09 | $491,734,000 | $86.59 | -6.98% | $64.63 | $98.65 | |
≡ | IQV - IQVIA Holdings Inc. | 8.26 | Add 17.61% | 2,050,000 | $231.38 | $474,329,000 | $223.40 | -3.45% | $167.42 | $261.73 | |
≡ | LAD - Lithia Motors Inc. | 7.45 | Add 4.59% | 1,299,000 | $329.28 | $427,735,000 | $253.46 | -23.03% | $206.00 | $331.40 | |
≡ | COF - Capital One Financial | 7.09 | Reduce 1.15% | 3,104,797 | $131.12 | $407,101,000 | $142.43 | 8.63% | $83.34 | $149.94 | |
≡ | GOOGL - Alphabet Inc. | 6.94 | Reduce 19.28% | 2,853,320 | $139.69 | $398,580,000 | $167.25 | 19.73% | $104.11 | $174.71 | |
≡ | SCHW - Charles Schwab Corp. | 6.05 | Add 5.38% | 5,047,940 | $68.80 | $347,298,000 | $76.05 | 10.54% | $45.98 | $76.47 | |
≡ | FCNCA - First Citizens Bancshares | 6.04 | Add 0.94% | 244,283 | $1418.97 | $346,630,000 | $1709.16 | 20.45% | $959.59 | $1810.03 | |
≡ | ICE - Intercontinental Exchange Inc. | 5.31 | Reduce 1.48% | 2,375,253 | $128.43 | $305,054,000 | $130.51 | 1.62% | $102.34 | $139.97 | |
≡ | KKR - KKR & Co. L.P. | 4.80 | Reduce 31.55% | 3,326,000 | $82.85 | $275,559,000 | $94.96 | 14.62% | $47.30 | $103.48 | |
≡ | WFC - Wells Fargo | 4.04 | Reduce 0.01% | 4,709,745 | $49.22 | $231,814,000 | $59.92 | 21.74% | $36.31 | $61.76 | |
≡ | CHTR - Charter Communications | 3.93 | Reduce 3.99% | 579,900 | $388.68 | $225,396,000 | $265.98 | -31.57% | $236.08 | $458.30 | |
≡ | CRM - Salesforce.com | 3.91 | Reduce 33.54% | 853,400 | $263.14 | $224,564,000 | $273.65 | 3.99% | $193.00 | $318.30 | |
≡ | ALLY - Ally Financial Inc. | 3.80 | Reduce 10.67% | 6,252,800 | $34.92 | $218,348,000 | $39.37 | 12.74% | $21.91 | $41.24 | |
≡ | AXP - American Express | 3.55 | Buy | 1,088,000 | $187.34 | $203,826,000 | $230.77 | 23.18% | $140.02 | $240.55 | |
≡ | PSX - Phillips 66 | 3.19 | Buy | 1,377,000 | $133.14 | $183,334,000 | $143.62 | 7.87% | $87.47 | $174.08 | |
≡ | COP - ConocoPhillips | 3.13 | Reduce 0.01% | 1,547,912 | $116.07 | $179,666,000 | $122.25 | 5.32% | $95.28 | $135.18 | |
≡ | FI - Fiserv Inc. | 3.04 | Reduce 5.92% | 1,313,412 | $132.84 | $174,474,000 | $149.22 | 12.33% | $109.12 | $159.99 | |
≡ | WBD - Warner Bros. Discovery Inc. | 2.68 | 13,499,000 | $11.38 | $153,619,000 | $7.96 | -30.05% | $7.34 | $14.76 | ||
≡ | PAYC - Paycom Software Inc. | 2.41 | Buy | 669,101 | $206.72 | $138,317,000 | $171.28 | -17.14% | $145.54 | $371.99 | |
≡ | APA - APA Corp. | 2.01 | Reduce 0.01% | 3,219,800 | $35.88 | $115,526,000 | $29.26 | -18.45% | $28.90 | $44.89 | |
≡ | LBRDK - Liberty Broadband Corp. CL C | 1.98 | Add 0.00% | 1,410,030 | $80.59 | $113,634,000 | $51.89 | -35.61% | $46.46 | $95.68 | |
≡ | EOG - EOG Resources | 1.83 | Reduce 16.45% | 870,580 | $120.95 | $105,297,000 | $130.01 | 7.49% | $102.12 | $138.73 |
* Reported Price is the price of the security as of the portfolio date. This value is significant in that it is the last known price at which the security was still held.
Sector % analysis
Financials | 49.24 | |
Technology | 13.26 | |
Consumer Discretionary | 10.13 | |
Health Care | 8.26 | |
Energy | 6.97 | |
Services | 5.91 | |
Materials | 3.19 | |
Information Technology | 3.04 |
Articles & Commentaries
05 Apr 2024 Bill Nygren Q1 2024 Market Commentary: Navigating market highs and (avoiding) value traps
05 Apr 2024 Oakmark Select Fund Q1 2024 Market Commentary
12 Mar 2024 Oakmark's Bill Nygren: Why do new highs matter?
31 Jan 2024 Interview with Oakmark's Bill Nygren
09 Jan 2024 Oakmark Select Fund Q4 2023 Market Commentary
09 Jan 2024 Bill Nygren Q4 2023 Market Commentary
18 Dec 2023 Oakmark's Tony Coniaris and John Sitarz do a deep dive into the cable industry and Charter Communications
20 Nov 2023 Bill Nygren: More on Growth vs. Value Investing
25 Oct 2023 Podcast interview with Bill Nygren
12 Oct 2023 Oakmark Select Fund Q3 2023 Market Commentary
09 Oct 2023 Bill Nygren discusses Oakmark's portfolio moves
06 Sep 2023 Oakmark's David Herro: German companies looking attractive because of depressed valuations
28 Aug 2023 Bill Nygren on the limits of macro, why financials look cheap, indexing’s pitfalls, and more
10 Jul 2023 Oakmark Select Fund Q2 2023 Market Commentary
06 Jun 2023 5 Value Stocks With Oakmark’s Bill Nygren
05 May 2023 Oakmark's Bill Nygren: Larger banks have a strong competitive advantage versus smaller banks
10 Apr 2023 Oakmark Select Fund Q1 2023 Market Commentary