Harris Associates (Oakmark)

Q3 2018 13F · by Bill Nygren, CIO

As of: Sep 30, 2018
Filed: Nov 14, 2018
US stock: $63.6B · prev $61.9B
Positions: 122 · prev 124
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%

Moves126 since the prior filing

+3.7 pp in · −3.7 pp out

New 4 +0.56 pp
Added 44 +3.11 pp
Trimmed 72 −3.43 pp
Exited 6 −0.24 pp

The book

Diversified · behaves like 52 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 19% a year, about 5.4 years per position

Low
Moderate
High

Top 5 positions19% of US stock

C Citigroup Inc. trimmed−0.03 pp trimmed−0.034.4%
GOOG Alphabet Inc. Class C trimmed+0.04 pp trimmed+0.044.3%
BAC Bank of America Corporation added+0.06 pp added+0.063.7%
0VQJL Te Connectivity Ltd added−0.15 pp added−0.153.5%
CHTR Charter Comm Inc Del CL A New trimmed+0.23 pp trimmed+0.233.4%

Positions122 in this filing · 6 exited


CCitigroup Inc.	4.41%	39,094,716	$2.8B	trimmed−5%	−0.03 pp	19 q
GOOGAlphabet Inc. Class C	4.31%	2,300,088	$2.7B	trimmed−3%	+0.04 pp	18 q
BACBank of America Corporation	3.72%	80,437,903	$2.4B	added0%	+0.06 pp	22 q
0VQJLTe Connectivity Ltd	3.48%	25,169,453	$2.2B	added+1%	−0.15 pp	22 q
CHTRCharter Comm Inc Del CL A New	3.43%	6,703,968	$2.2B	trimmed−1%	+0.23 pp	10 q
MAMastercard Incorporated	3.18%	9,082,367	$2.0B	trimmed−12%	−0.08 pp	22 q
GMGeneral Motors Company	3.17%	59,901,871	$2.0B	trimmed−1%	−0.70 pp	22 q
AIGAmerican International Group, Inc.	3.07%	36,722,265	$2.0B	trimmed−2%	−0.14 pp	22 q
ORCLOracle Corp	2.87%	35,476,858	$1.8B	trimmed−14%	−0.06 pp	22 q
HCAHCA Healthcare, Inc.	2.68%	12,277,114	$1.7B	trimmed−18%	+0.19 pp	11 q
LBTYKLiberty Global Ltd. Class C	2.34%	52,788,791	$1.5B	added+1%	+0.09 pp	5 q
WTWWillis Towers Watson Public Limited Company	2.16%	9,731,267	$1.4B	trimmed−11%	−0.53 pp	11 q
REGNRegeneron Pharmaceuticals Inc	2.02%	3,173,644	$1.3B	added+1%	+0.26 pp	3 q
WFCWells Fargo & Co.	1.91%	23,114,588	$1.2B	trimmed−6%	−0.29 pp	22 q
TVGrupo Televisa S.A.	1.67%	59,910,348	$1.1B	trimmed−0%	−0.17 pp	12 q
ALLYAlly Financial Inc.	1.64%	39,568,743	$1.0B	trimmed−2%	−0.08 pp	12 q
CVSCvs Health Corporation	1.62%	13,124,944	$1.0B	trimmed−3%	+0.22 pp	22 q
unresolvedGeneral Electric Co	1.60%	90,149,392	$1.0B	added+1%	−0.35 pp	22 q
unresolvedFiat Chrysler Automobiles NV s	1.60%	58,213,810	$1.0B	added+11%	−0.01 pp	14 q
RYAAYRyanair Holdings plc	1.56%	10,356,063	$995M	added×3.1	+0.94 pp	3 q
NOVNOV Inc.	1.52%	22,407,407	$965M	trimmed−4%	−0.12 pp	22 q
CMCSAComcast Corp	1.43%	25,735,910	$911M	trimmed−1%	+0.06 pp	22 q
GOOGLAlphabet Inc. Class A	1.41%	744,907	$899M	added0%	+0.05 pp	12 q
9990302DApache Corp	1.39%	18,569,065	$885M	trimmed−2%	−0.04 pp	22 q
VVISA Inc.	1.34%	5,692,369	$854M	trimmed−2%	+0.10 pp	22 q
DEODiageo plc	1.33%	5,966,285	$845M	trimmed−1%	−0.07 pp	22 q
AAPLApple Inc.	1.31%	3,689,592	$833M	trimmed−1%	+0.20 pp	22 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	1.14%	2,724,321	$725M	trimmed−7%	−0.02 pp	22 q
COFCapital One Financial	1.13%	7,588,215	$720M	trimmed−3%	−0.03 pp	22 q
AALAmerican Airlines Group Inc.	1.08%	16,622,725	$687M	trimmed−4%	+0.02 pp	4 q
CVECenovus Energy Inc.	1.06%	67,192,709	$674M	added×2.9	+0.67 pp	3 q
LBTYALiberty Global Ltd. Class A	1.06%	23,236,699	$672M	added+5%	+0.08 pp	5 q
MCOMoody's Corporation	1.01%	3,839,722	$642M	trimmed−2%	−0.07 pp	7 q
unresolvedQurate Retail Inc	0.97%	27,854,389	$619M	trimmed−2%	−0.01 pp	2 q
NFLXNetFlix Inc	0.96%	1,629,897	$610M	trimmed−5%	−0.12 pp	5 q
APCAnadarko Petroleum Corp	0.95%	9,014,830	$608M	added0%	−0.12 pp	13 q
MGMMgm Resorts International	0.95%	21,772,023	$608M	trimmed−1%	−0.08 pp	11 q
CBRECbre Group, Inc.	0.93%	13,427,940	$592M	trimmed−1%	−0.12 pp	19 q
HLTHilton Worldwide Holdings Inc.	0.90%	7,071,701	$571M	added+49%	+0.29 pp	3 q
STTState Street Corporation	0.90%	6,799,715	$570M	added+7%	−0.06 pp	22 q
BKNGBooking Holdings Inc.	0.88%	280,718	$557M	trimmed−1%	−0.05 pp	3 q
ADPAutomatic Data Processing	0.83%	3,496,348	$527M	trimmed−0%	+0.07 pp	22 q
BAXBaxter International Inc.	0.83%	6,810,284	$525M	trimmed−1%	+0.01 pp	11 q
BNYBank of New York Mellon Corporation	0.82%	10,273,504	$524M	added+6%	−0.03 pp	22 q
BMYBristol-Myers Squibb Co.	0.78%	8,024,109	$498M	trimmed−5%	+0.03 pp	5 q
BIDUBaidu, Inc.	0.76%	2,109,122	$482M	trimmed−28%	−0.38 pp	13 q
INTCIntel Corp	0.76%	10,212,903	$483M	trimmed−1%	−0.07 pp	22 q
PHParker-Hannifin Corporation	0.72%	2,491,350	$458M	added0%	+0.09 pp	22 q
unresolvedUnilever Spn.Adr 1:1	0.70%	8,102,397	$445M	added0%	−0.02 pp	22 q
ARNCHowmet Aerospace Inc.	0.67%	19,433,656	$428M	trimmed−6%	+0.10 pp	7 q
TXNTexas Instruments Incorporated	0.65%	3,857,910	$414M	trimmed−1%	−0.04 pp	22 q
JCIJohnson Controls International plc	0.65%	11,744,631	$411M	trimmed−8%	−0.04 pp	4 q
CATCaterpillar Inc.	0.61%	2,542,285	$388M	added+13%	+0.12 pp	20 q
MDTMedtronic plc	0.58%	3,741,857	$368M	trimmed−3%	+0.04 pp	15 q
unresolvedAon PLC	0.56%	2,302,911	$354M	trimmed−4%	+0.03 pp	22 q
IPGThe Interpublic Group of Companies, Inc.	0.54%	15,098,092	$345M	trimmed−2%	−0.04 pp	18 q
PMPhilip Morris International Inc.	0.54%	4,225,168	$345M	trimmed−1%	−0.01 pp	22 q
METAMeta Platforms, Inc. Class A	0.51%	1,963,521	$323M	trimmed−2%	−0.12 pp	3 q
FDXFedEx Corporation	0.50%	1,313,248	$316M	trimmed−0%	+0.02 pp	22 q
GSGoldman Sachs Group Inc.	0.49%	1,387,825	$311M	trimmed−3%	−0.02 pp	22 q
CHKChesapeake Energy Corp	0.48%	68,267,091	$307M	trimmed−0%	−0.10 pp	16 q
ITGartner, Inc.	0.48%	1,932,960	$306M	added+14%	+0.11 pp	2 q
FLEXFlex Ltd.	0.48%	23,083,721	$303M	added×2.2	+0.24 pp	3 q
LEALear Corporation	0.47%	2,064,643	$299M	added+35%	+0.01 pp	22 q
DXCDXC Technology Company	0.46%	3,098,167	$290M	added×10.7	+0.42 pp	4 q
CMICummins Inc.	0.44%	1,895,394	$277M	added+12%	+0.08 pp	22 q
DOVDover Corporation	0.44%	3,169,814	$281M	trimmed−19%	−0.02 pp	22 q
LUVSouthwest Airlines Co.	0.40%	4,104,697	$256M	added+27%	+0.13 pp	5 q
LBRDKLiberty Broadband Corporation Class C	0.36%	2,744,121	$231M	added+2%	+0.03 pp	12 q
SCHWThe Charles Schwab Corporation	0.36%	4,691,626	$231M	new	+0.36 pp	new
BWABorgWarner Inc.	0.35%	5,132,927	$220M	added+4%	+0.01 pp	22 q
HHCThe Howard Hughes Corporation	0.35%	1,767,552	$220M	trimmed−0%	−0.03 pp	22 q
THCTenet Healthcare Corporation New	0.34%	7,494,955	$213M	added+2%	−0.06 pp	22 q
ADNTAdient plc	0.34%	5,510,757	$217M	added+20%	−0.03 pp	8 q
WOOFoot Locker Inc	0.33%	4,154,730	$212M	trimmed−0%	−0.02 pp	22 q
CLGXCorelogic, Inc.	0.32%	4,122,698	$204M	added+4%	−0.01 pp	4 q
0WEWeatherford International plc	0.31%	71,800,681	$195M	added+15%	−0.02 pp	7 q
9991429DAptiv Irish Holdings Ltd	0.30%	2,249,615	$189M	added0%	−0.03 pp	4 q
UAUnder Armour, Inc. Class C, $0.0003 1/3 par value	0.28%	9,091,349	$177M	added+2%	−0.02 pp	6 q
ADTADT Inc.	0.27%	18,219,029	$171M	trimmed−4%	0.00 pp	3 q
PDCEPDC Energy, Inc.	0.25%	3,264,905	$160M	added0%	−0.07 pp	5 q
KMXCarMax Inc.	0.24%	2,061,094	$154M	trimmed−47%	−0.21 pp	22 q
NWSANews Corporation Class A	0.23%	10,861,238	$143M	trimmed−32%	−0.17 pp	19 q
LYVLive Nation Entertainment Inc.	0.22%	2,552,037	$139M	trimmed−2%	+0.02 pp	22 q
VISNVistance Networks, Inc.	0.21%	4,404,898	$135M	trimmed−40%	−0.14 pp	9 q
unresolvedU S G Corp	0.21%	3,110,502	$135M	trimmed−43%	−0.17 pp	14 q
CDEVPermian Resources Corporation	0.20%	5,857,751	$128M	added×2.2	+0.12 pp	2 q
DLPHBorgwarner Jersey Ltd	0.19%	3,812,758	$120M	added×5.1	+0.13 pp	4 q
GLPIGaming and Leisure Properties, Inc.	0.17%	3,107,258	$110M	added+1%	−0.01 pp	20 q
CRICarter's Inc.	0.16%	1,001,364	$99M	trimmed−0%	−0.02 pp	22 q
POSTPost Holdings, Inc.	0.16%	1,033,975	$101M	new	+0.16 pp	new
CSLCarlisle Companies, Inc.	0.15%	775,870	$95M	added+35%	+0.05 pp	3 q
APYChampionX Corporation	0.13%	1,950,757	$85M	trimmed−0%	0.00 pp	2 q
BKRBaker Hughes Company	0.13%	2,518,624	$85M	trimmed−9%	−0.02 pp	5 q
QRVOQorvo, Inc.	0.13%	1,083,630	$83M	trimmed−1%	−0.01 pp	4 q
CRTOCriteo S.A.	0.12%	3,262,700	$75M	trimmed−9%	−0.07 pp	5 q
HRIHerc Holdings Inc.	0.11%	1,316,236	$67M	added+3%	−0.01 pp	10 q
LIVNLivaNova PLC	0.11%	587,257	$73M	trimmed−6%	+0.01 pp	4 q
BLQADBlackrock Inc	0.09%	126,838	$60M	added+18%	0.00 pp	22 q
CHRWC.H. Robinson Worldwide, Inc.	0.09%	596,483	$58M	trimmed−25%	−0.02 pp	10 q
VLRSControladora Vuela Compania De Aviacion, S.a.b. De C.v.	0.08%	6,786,250	$51M	added+36%	+0.04 pp	5 q
SLCAU.s. Silica Holdings, Inc.	0.07%	2,309,800	$43M	added×2.3	+0.03 pp	4 q
WCCWesco International Inc.	0.07%	710,400	$44M	trimmed−0%	0.00 pp	18 q
THOThor Industries, Inc.	0.06%	434,958	$36M	added×33.0	+0.06 pp	2 q
AXTAAxalta Coating Systems Ltd.	0.05%	1,009,791	$29M	trimmed−39%	−0.03 pp	12 q
CDWCDW Corporation	0.04%	298,581	$27M	trimmed−78%	−0.14 pp	13 q
EFXEquifax, Incorporated	0.04%	206,558	$27M	added+15%	0.00 pp	2 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.04%	557,571	$25M	new	+0.04 pp	new
TRNTrinity Industries, Inc.	0.04%	696,518	$26M	added0%	0.00 pp	6 q
ZBHZimmer Biomet Holdings, Inc.	0.04%	208,557	$27M	trimmed−6%	0.00 pp	3 q
WPPWpp PLC	0.02%	159,400	$12M	trimmed−4%	0.00 pp	5 q
unresolvedEllie Mae	0.01%	45,820	$4M	added+20%	0.00 pp	4 q
JPMJPMorgan Chase & Co.	0.01%	39,574	$4M	trimmed−91%	−0.07 pp	22 q
BCBrunswick Corporation	0.00%	13,200	$885,000	trimmed−1%	0.00 pp	4 q
CVXChevron Corporation	0.00%	2,000	$245,000	held	—	9 q
FBINFortune Brands Innovations, Inc.	0.00%	26,975	$1M	new	0.00 pp	new
ITWIllinois Tool Works Inc.	0.00%	4,000	$564,000	trimmed−16%	0.00 pp	22 q
JLLJones Lang LaSalle, Inc.	0.00%	1,950	$281,000	trimmed−98%	−0.02 pp	11 q
MSFTMicrosoft Corp	0.00%	2,500	$286,000	trimmed−4%	0.00 pp	22 q
PFGPrincipal Financial Group, Inc.	0.00%	5,350	$313,000	trimmed−97%	−0.02 pp	22 q
RRCRange Resources Corp	0.00%	20,000	$340,000	held	—	3 q
USBU.S. Bancorp	0.00%	31,622	$2M	trimmed−61%	−0.01 pp	22 q
IQVIQVIA Holdings Inc.	—	−965,641	—	exited	−0.16 pp	—
LWLamb Weston Holdings, Inc.	—	−488,058	—	exited	−0.05 pp	—
FLSFlowserve Corporation	—	−341,307	—	exited	−0.02 pp	—
OSKOshkosh Corp.	—	−127,500	—	exited	−0.01 pp	—
ABBVAbbvie Inc.	—	−22,429	—	exited	0.00 pp	—
DATATableau Software, Inc.	—	−18,800	—	exited	0.00 pp	—