Harris Associates (Oakmark)

Q2 2018 13F · by Bill Nygren, CIO

As of: Jun 30, 2018
Filed: Aug 14, 2018
US stock: $61.9B · prev $59.9B
Positions: 124 · prev 128
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves130 since the prior filing

+7.0 pp in · −7.0 pp out

New 6 +1.60 pp
Added 44 +5.44 pp
Trimmed 70 −4.92 pp
Exited 10 −2.11 pp

The book

Diversified · behaves like 50 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 26% a year, about 3.9 years per position

Low
Moderate
High

Top 5 positions20% of US stock

C Citigroup Inc. added−0.14 pp added−0.144.4%
GOOG Alphabet Inc. Class C added+0.20 pp added+0.204.3%
GM General Motors Company trimmed+0.17 pp trimmed+0.173.9%
BAC Bank of America Corporation trimmed−0.39 pp trimmed−0.393.7%
0VQJL Te Connectivity Ltd trimmed−0.57 pp trimmed−0.573.6%

Positions124 in this filing · 10 exited


CCitigroup Inc.	4.44%	41,016,421	$2.7B	added+1%	−0.14 pp	18 q
GOOGAlphabet Inc. Class C	4.27%	2,366,129	$2.6B	added0%	+0.20 pp	17 q
GMGeneral Motors Company	3.87%	60,734,709	$2.4B	trimmed−0%	+0.17 pp	21 q
BACBank of America Corporation	3.66%	80,353,421	$2.3B	trimmed−1%	−0.39 pp	21 q
0VQJLTe Connectivity Ltd	3.63%	24,954,372	$2.2B	trimmed−1%	−0.57 pp	21 q
MAMastercard Incorporated	3.26%	10,262,790	$2.0B	trimmed−9%	−0.03 pp	21 q
AIGAmerican International Group, Inc.	3.21%	37,415,653	$2.0B	added+13%	+0.19 pp	21 q
CHTRCharter Comm Inc Del CL A New	3.20%	6,756,610	$2.0B	added+44%	+0.77 pp	9 q
ORCLOracle Corp	2.93%	41,198,686	$1.8B	trimmed−9%	−0.53 pp	21 q
WTWWillis Towers Watson Public Limited Company	2.69%	10,963,703	$1.7B	added+3%	−0.02 pp	10 q
HCAHCA Healthcare, Inc.	2.49%	15,042,474	$1.5B	trimmed−11%	−0.23 pp	10 q
LBTYKLiberty Global Ltd. Class C	2.25%	52,297,766	$1.4B	added+25%	+0.12 pp	4 q
WFCWells Fargo & Co.	2.20%	24,595,652	$1.4B	trimmed−2%	0.00 pp	21 q
unresolvedGeneral Electric Co	1.95%	88,860,156	$1.2B	added+32%	+0.43 pp	21 q
TVGrupo Televisa S.A.	1.84%	59,965,807	$1.1B	added+1%	+0.25 pp	11 q
REGNRegeneron Pharmaceuticals Inc	1.76%	3,148,677	$1.1B	added+85%	+0.78 pp	2 q
ALLYAlly Financial Inc.	1.72%	40,393,795	$1.1B	trimmed−0%	−0.11 pp	11 q
NOVNOV Inc.	1.64%	23,368,396	$1.0B	trimmed−2%	+0.17 pp	21 q
unresolvedFiat Chrysler Automobiles NV s	1.61%	52,671,757	$995M	added+4%	−0.12 pp	13 q
9990302DApache Corp	1.43%	18,968,777	$887M	trimmed−0%	+0.21 pp	21 q
CVSCvs Health Corporation	1.40%	13,488,896	$868M	added+18%	+0.21 pp	21 q
DEODiageo plc	1.40%	6,002,267	$864M	trimmed−4%	−0.01 pp	21 q
CMCSAComcast Corp	1.37%	25,900,770	$850M	trimmed−11%	−0.28 pp	21 q
GOOGLAlphabet Inc. Class A	1.36%	742,640	$839M	added+1%	+0.08 pp	11 q
VVISA Inc.	1.24%	5,778,961	$765M	trimmed−5%	+0.02 pp	21 q
COFCapital One Financial	1.16%	7,804,606	$717M	trimmed−1%	−0.10 pp	21 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	1.16%	2,931,856	$719M	trimmed−14%	−0.06 pp	21 q
BIDUBaidu, Inc.	1.14%	2,910,492	$707M	trimmed−33%	−0.49 pp	12 q
AAPLApple Inc.	1.11%	3,710,683	$687M	trimmed−3%	+0.04 pp	21 q
MCOMoody's Corporation	1.08%	3,903,333	$666M	trimmed−1%	+0.02 pp	6 q
NFLXNetFlix Inc	1.08%	1,709,050	$669M	trimmed−13%	+0.11 pp	4 q
APCAnadarko Petroleum Corp	1.07%	9,009,363	$660M	added0%	+0.16 pp	12 q
AALAmerican Airlines Group Inc.	1.06%	17,262,654	$655M	added+30%	−0.09 pp	3 q
CBRECbre Group, Inc.	1.05%	13,583,119	$648M	trimmed−9%	−0.12 pp	18 q
MGMMgm Resorts International	1.03%	21,887,621	$635M	trimmed−1%	−0.27 pp	10 q
unresolvedQurate Retail Inc	0.98%	28,517,266	$605M	new	+0.98 pp	new
LBTYALiberty Global Ltd. Class A	0.98%	22,039,201	$607M	added+17%	−0.01 pp	4 q
STTState Street Corporation	0.96%	6,378,155	$594M	added0%	−0.10 pp	21 q
BKNGBooking Holdings Inc.	0.93%	283,999	$576M	trimmed−5%	−0.11 pp	2 q
BNYBank of New York Mellon Corporation	0.85%	9,711,639	$524M	added0%	+0.01 pp	21 q
INTCIntel Corp	0.83%	10,362,636	$515M	trimmed−26%	−0.39 pp	21 q
BAXBaxter International Inc.	0.82%	6,899,053	$509M	trimmed−0%	+0.07 pp	10 q
ADPAutomatic Data Processing	0.76%	3,507,102	$470M	trimmed−0%	+0.09 pp	21 q
BMYBristol-Myers Squibb Co.	0.75%	8,413,076	$466M	added×13.1	+0.68 pp	4 q
unresolvedUnilever Spn.Adr 1:1	0.72%	8,100,119	$448M	added0%	−0.03 pp	21 q
TXNTexas Instruments Incorporated	0.69%	3,885,658	$428M	trimmed−1%	+0.01 pp	21 q
JCIJohnson Controls International plc	0.69%	12,732,661	$426M	trimmed−0%	−0.06 pp	3 q
METAMeta Platforms, Inc. Class A	0.63%	1,997,119	$388M	added+48%	+0.27 pp	2 q
PHParker-Hannifin Corporation	0.63%	2,490,585	$388M	added0%	−0.08 pp	21 q
RYAAYRyanair Holdings plc	0.62%	3,334,741	$381M	added×3.3	+0.41 pp	2 q
HLTHilton Worldwide Holdings Inc.	0.61%	4,756,400	$377M	added×16.1	+0.57 pp	2 q
CHKChesapeake Energy Corp	0.58%	68,301,726	$358M	added+8%	+0.26 pp	15 q
IPGThe Interpublic Group of Companies, Inc.	0.58%	15,414,677	$361M	trimmed−2%	−0.02 pp	17 q
ARNCHowmet Aerospace Inc.	0.57%	20,694,306	$352M	added+10%	−0.16 pp	6 q
PMPhilip Morris International Inc.	0.55%	4,251,689	$343M	added+22%	−0.03 pp	21 q
MDTMedtronic plc	0.54%	3,872,374	$332M	trimmed−3%	0.00 pp	14 q
unresolvedAon PLC	0.53%	2,392,409	$328M	trimmed−26%	−0.23 pp	21 q
GSGoldman Sachs Group Inc.	0.51%	1,437,665	$317M	trimmed−0%	−0.09 pp	21 q
CATCaterpillar Inc.	0.49%	2,254,685	$306M	trimmed−14%	−0.15 pp	19 q
FDXFedEx Corporation	0.48%	1,316,041	$299M	trimmed−19%	−0.17 pp	21 q
DOVDover Corporation	0.46%	3,911,557	$286M	trimmed−0%	−0.18 pp	21 q
LEALear Corporation	0.46%	1,529,198	$284M	added+6%	+0.01 pp	21 q
KMXCarMax Inc.	0.45%	3,857,472	$281M	trimmed−34%	−0.16 pp	21 q
NWSANews Corporation Class A	0.40%	15,858,868	$246M	trimmed−0%	−0.02 pp	18 q
THCTenet Healthcare Corporation New	0.40%	7,343,586	$247M	trimmed−1%	+0.10 pp	21 q
CVECenovus Energy Inc.	0.39%	23,489,502	$244M	added×2.4	+0.25 pp	2 q
HHCThe Howard Hughes Corporation	0.38%	1,771,333	$235M	trimmed−0%	−0.03 pp	21 q
unresolvedU S G Corp	0.38%	5,462,769	$236M	trimmed−15%	−0.05 pp	13 q
ITGartner, Inc.	0.37%	1,701,640	$226M	new	+0.37 pp	new
ADNTAdient plc	0.37%	4,602,017	$226M	trimmed−4%	−0.11 pp	7 q
CMICummins Inc.	0.36%	1,695,836	$226M	added+72%	+0.09 pp	21 q
VISNVistance Networks, Inc.	0.35%	7,402,214	$216M	trimmed−17%	−0.24 pp	8 q
WOOFoot Locker Inc	0.35%	4,156,080	$219M	trimmed−0%	+0.03 pp	21 q
BWABorgWarner Inc.	0.34%	4,937,818	$213M	trimmed−0%	−0.07 pp	21 q
CLGXCorelogic, Inc.	0.33%	3,953,354	$205M	added+4%	+0.04 pp	3 q
LBRDKLiberty Broadband Corporation Class C	0.33%	2,682,509	$203M	trimmed−11%	−0.10 pp	11 q
0WEWeatherford International plc	0.33%	62,222,909	$205M	trimmed−1%	+0.09 pp	6 q
9991429DAptiv Irish Holdings Ltd	0.33%	2,249,005	$206M	added0%	+0.01 pp	3 q
PDCEPDC Energy, Inc.	0.32%	3,255,065	$197M	added+6%	+0.07 pp	4 q
UAUnder Armour, Inc. Class C, $0.0003 1/3 par value	0.30%	8,951,323	$189M	trimmed−6%	+0.07 pp	5 q
ADTADT Inc.	0.27%	19,034,830	$165M	added+31%	+0.08 pp	2 q
LUVSouthwest Airlines Co.	0.27%	3,239,092	$165M	added×5.1	+0.21 pp	4 q
FLEXFlex Ltd.	0.24%	10,326,355	$146M	trimmed−16%	−0.09 pp	2 q
LYVLive Nation Entertainment Inc.	0.20%	2,592,137	$126M	trimmed−1%	+0.02 pp	21 q
CRTOCriteo S.A.	0.19%	3,569,100	$117M	trimmed−0%	+0.04 pp	4 q
CDWCDW Corporation	0.18%	1,350,120	$109M	trimmed−46%	−0.12 pp	12 q
CRICarter's Inc.	0.18%	1,004,135	$109M	trimmed−0%	+0.01 pp	21 q
GLPIGaming and Leisure Properties, Inc.	0.18%	3,084,725	$110M	added+1%	+0.01 pp	19 q
IQVIQVIA Holdings Inc.	0.16%	965,641	$96M	trimmed−2%	0.00 pp	3 q
BKRBaker Hughes Company	0.15%	2,761,493	$91M	held	—	4 q
QRVOQorvo, Inc.	0.14%	1,091,205	$87M	added0%	+0.01 pp	3 q
APYChampionX Corporation	0.13%	1,953,753	$82M	new	+0.13 pp	new
HRIHerc Holdings Inc.	0.12%	1,274,896	$72M	trimmed−0%	−0.02 pp	9 q
CHRWC.H. Robinson Worldwide, Inc.	0.11%	793,470	$66M	trimmed−29%	−0.06 pp	9 q
CSLCarlisle Companies, Inc.	0.10%	576,350	$62M	added+72%	+0.04 pp	2 q
LIVNLivaNova PLC	0.10%	622,157	$62M	trimmed−0%	+0.01 pp	3 q
BLQADBlackrock Inc	0.09%	107,656	$54M	trimmed−4%	−0.01 pp	21 q
CDEVPermian Resources Corporation	0.08%	2,701,051	$49M	new	+0.08 pp	new
JPMJPMorgan Chase & Co.	0.08%	461,744	$48M	trimmed−38%	−0.06 pp	21 q
AXTAAxalta Coating Systems Ltd.	0.08%	1,644,756	$50M	trimmed−5%	−0.01 pp	11 q
WCCWesco International Inc.	0.07%	710,575	$41M	trimmed−0%	0.00 pp	17 q
DLPHBorgwarner Jersey Ltd	0.06%	748,703	$34M	added0%	0.00 pp	3 q
LWLamb Weston Holdings, Inc.	0.05%	488,058	$33M	trimmed−68%	−0.10 pp	5 q
VLRSControladora Vuela Compania De Aviacion, S.a.b. De C.v.	0.04%	5,008,400	$25M	added+3%	−0.03 pp	4 q
DXCDXC Technology Company	0.04%	289,603	$23M	added+84%	+0.01 pp	3 q
EFXEquifax, Incorporated	0.04%	179,890	$23M	new	+0.04 pp	new
TRNTrinity Industries, Inc.	0.04%	696,468	$24M	added+35%	+0.01 pp	5 q
SLCAU.s. Silica Holdings, Inc.	0.04%	996,700	$26M	added+4%	0.00 pp	3 q
ZBHZimmer Biomet Holdings, Inc.	0.04%	220,700	$25M	added+30%	+0.01 pp	2 q
FLSFlowserve Corporation	0.02%	341,307	$14M	trimmed−9%	−0.01 pp	15 q
JLLJones Lang LaSalle, Inc.	0.02%	86,115	$14M	trimmed−93%	−0.32 pp	10 q
PFGPrincipal Financial Group, Inc.	0.02%	205,019	$11M	trimmed−6%	0.00 pp	21 q
WPPWpp PLC	0.02%	166,600	$13M	trimmed−17%	−0.01 pp	4 q
unresolvedEllie Mae	0.01%	38,245	$4M	added+21%	+0.01 pp	3 q
OSKOshkosh Corp.	0.01%	127,500	$9M	trimmed−30%	−0.01 pp	14 q
USBU.S. Bancorp	0.01%	82,120	$4M	trimmed−6%	0.00 pp	21 q
ABBVAbbvie Inc.	0.00%	22,429	$2M	trimmed−46%	−0.01 pp	5 q
BCBrunswick Corporation	0.00%	13,300	$858,000	trimmed−4%	0.00 pp	3 q
CVXChevron Corporation	0.00%	2,000	$253,000	held	—	8 q
ITWIllinois Tool Works Inc.	0.00%	4,750	$658,000	held	—	21 q
MSFTMicrosoft Corp	0.00%	2,600	$256,000	trimmed−17%	0.00 pp	21 q
RRCRange Resources Corp	0.00%	20,000	$335,000	held	—	2 q
DATATableau Software, Inc.	0.00%	18,800	$2M	trimmed−3%	0.00 pp	7 q
THOThor Industries, Inc.	0.00%	13,176	$1M	new	0.00 pp	new
unresolvedLiberty Interactive Corp	—	−28,552,376	—	exited	−1.20 pp	—
AFLAflac Inc.	—	−4,551,884	—	exited	−0.33 pp	—
unresolvedBlue Buffalo Pet Prods Inc	—	−4,963,543	—	exited	−0.33 pp	—
FNFFidelity National Financial, Inc.	—	−2,778,668	—	exited	−0.19 pp	—
unresolvedQiagen N.V	—	−537,580	—	exited	−0.03 pp	—
EXPEExpedia Group, Inc.	—	−83,770	—	exited	−0.02 pp	—
LBRDALiberty Broadband Corporation Class A	—	−95,900	—	exited	−0.01 pp	—
AGCOAGCO Corporation	—	−16,150	—	exited	0.00 pp	—
HOGHarley-Davidson, Inc.	—	−69,414	—	exited	0.00 pp	—
AMTTd Ameritrade Holding Corp	—	−3,900	—	exited	0.00 pp	—