Harris Associates (Oakmark)

Q1 2019 13F · by Bill Nygren, CIO

As of: Mar 31, 2019
Filed: May 15, 2019
US stock: $54.5B · prev $49.6B
Positions: 127 · 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%

Moves128 since the prior filing

+4.1 pp in · −4.1 pp out

New 7 +1.27 pp
Added 46 +2.86 pp
Trimmed 71 −3.90 pp
Exited 4 −0.23 pp

The book

Diversified · behaves like 49 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 18% a year, about 5.7 years per position

Low
Moderate
High

Top 5 positions22% of US stock

Positions127 in this filing · 4 exited


GOOGAlphabet Inc. Class C	4.83%	2,241,783	$2.6B	trimmed−2%	+0.03 pp	20 q
BACBank of America Corporation	4.51%	89,108,110	$2.5B	added+10%	+0.48 pp	24 q
CCitigroup Inc.	4.28%	37,502,032	$2.3B	trimmed−0%	+0.34 pp	21 q
GMGeneral Motors Company	4.20%	61,659,950	$2.3B	trimmed−1%	−0.01 pp	24 q
CHTRCharter Comm Inc Del CL A New	3.70%	5,805,874	$2.0B	trimmed−7%	+0.12 pp	12 q
0VQJLTe Connectivity Ltd	3.51%	23,713,719	$1.9B	trimmed−3%	−0.20 pp	24 q
MAMastercard Incorporated	2.84%	6,572,715	$1.5B	trimmed−10%	+0.07 pp	24 q
AIGAmerican International Group, Inc.	2.80%	35,392,087	$1.5B	trimmed−4%	−0.12 pp	24 q
RYAAYRyanair Holdings plc	2.27%	16,486,885	$1.2B	added+15%	+0.20 pp	5 q
HLTHilton Worldwide Holdings Inc.	2.20%	14,452,791	$1.2B	added+9%	+0.29 pp	5 q
NFLXNetFlix Inc	2.03%	3,096,352	$1.1B	trimmed−0%	+0.35 pp	7 q
REGNRegeneron Pharmaceuticals Inc	2.01%	2,666,971	$1.1B	trimmed−11%	−0.26 pp	5 q
ALLYAlly Financial Inc.	1.90%	37,665,091	$1.0B	trimmed−5%	+0.09 pp	14 q
BKNGBooking Holdings Inc.	1.80%	561,855	$980M	added+73%	+0.67 pp	5 q
CMCSAComcast Corp	1.76%	23,961,641	$958M	trimmed−2%	+0.09 pp	24 q
unresolvedFiat Chrysler Automobiles NV s	1.73%	63,374,601	$941M	added+1%	−0.11 pp	16 q
unresolvedGeneral Electric Co	1.59%	86,685,347	$866M	trimmed−29%	−0.27 pp	24 q
WTWWillis Towers Watson Public Limited Company	1.52%	4,699,878	$826M	trimmed−2%	+0.04 pp	13 q
LBTYALiberty Global Ltd. Class A	1.47%	32,145,224	$801M	added+27%	+0.38 pp	7 q
LBTYKLiberty Global Ltd. Class C	1.47%	33,041,302	$800M	trimmed−21%	−0.28 pp	7 q
GOOGLAlphabet Inc. Class A	1.37%	632,778	$745M	trimmed−1%	+0.02 pp	14 q
AAPLApple Inc.	1.35%	3,858,501	$733M	added+1%	+0.14 pp	24 q
HCAHCA Healthcare, Inc.	1.32%	5,528,634	$721M	trimmed−14%	−0.30 pp	13 q
9990302DApache Corp	1.27%	19,909,054	$690M	added+1%	+0.23 pp	24 q
COFCapital One Financial	1.25%	8,312,035	$679M	added+3%	+0.02 pp	24 q
BIDUBaidu, Inc.	1.24%	4,102,910	$676M	added+30%	+0.23 pp	15 q
TVGrupo Televisa S.A.	1.23%	60,660,808	$671M	added+1%	−0.30 pp	14 q
CVSCvs Health Corporation	1.22%	12,330,522	$665M	added+4%	−0.35 pp	24 q
CBRECbre Group, Inc.	1.21%	13,319,669	$659M	trimmed−8%	+0.04 pp	21 q
MCOMoody's Corporation	1.21%	3,651,958	$661M	trimmed−4%	+0.13 pp	9 q
SCHWThe Charles Schwab Corporation	1.21%	15,385,625	$658M	added+10%	+0.04 pp	3 q
ORCLOracle Corp	1.19%	12,118,278	$651M	trimmed−29%	−0.37 pp	24 q
APCAnadarko Petroleum Corp	1.15%	13,750,576	$625M	added+2%	−0.05 pp	15 q
WFCWells Fargo & Co.	1.15%	12,949,047	$626M	trimmed−41%	−0.89 pp	24 q
NOVNOV Inc.	1.13%	23,025,065	$613M	added+1%	−0.05 pp	24 q
VVISA Inc.	1.12%	3,909,508	$611M	trimmed−7%	0.00 pp	24 q
AALAmerican Airlines Group Inc.	1.10%	18,912,711	$601M	trimmed−0%	−0.13 pp	6 q
CVECenovus Energy Inc.	1.10%	69,041,460	$599M	trimmed−7%	+0.05 pp	5 q
STTState Street Corporation	0.99%	8,204,975	$540M	added0%	−0.05 pp	24 q
INTCIntel Corp	0.94%	9,570,987	$514M	trimmed−6%	−0.02 pp	24 q
BNYBank of New York Mellon Corporation	0.91%	9,865,604	$498M	trimmed−9%	−0.12 pp	24 q
CATCaterpillar Inc.	0.90%	3,602,178	$488M	added+2%	0.00 pp	22 q
METAMeta Platforms, Inc. Class A	0.89%	2,893,087	$482M	added+2%	+0.14 pp	5 q
MGMMgm Resorts International	0.89%	18,955,138	$486M	trimmed−1%	−0.05 pp	13 q
LEALear Corporation	0.86%	3,441,497	$467M	added0%	+0.01 pp	24 q
unresolvedQurate Retail Inc	0.79%	27,025,692	$432M	trimmed−2%	−0.30 pp	4 q
PHParker-Hannifin Corporation	0.78%	2,491,885	$428M	added0%	+0.03 pp	24 q
STZConstellation Brands, Inc.	0.76%	2,371,055	$416M	new	+0.76 pp	new
TXNTexas Instruments Incorporated	0.74%	3,817,722	$405M	trimmed−1%	+0.01 pp	24 q
HALHalliburton Company	0.73%	13,499,748	$396M	added+7%	+0.05 pp	2 q
DEODiageo plc	0.69%	2,298,822	$376M	trimmed−46%	−0.52 pp	24 q
PMPhilip Morris International Inc.	0.65%	4,016,181	$355M	trimmed−4%	+0.09 pp	24 q
ARNCHowmet Aerospace Inc.	0.64%	18,370,688	$351M	added0%	+0.02 pp	9 q
ADPAutomatic Data Processing	0.59%	2,007,093	$321M	trimmed−0%	+0.06 pp	24 q
CMICummins Inc.	0.54%	1,872,243	$296M	added0%	+0.04 pp	24 q
LUVSouthwest Airlines Co.	0.54%	5,687,118	$295M	added+19%	+0.09 pp	7 q
DXCDXC Technology Company	0.53%	4,448,547	$286M	added+1%	+0.06 pp	6 q
ITGartner, Inc.	0.53%	1,909,061	$290M	trimmed−0%	+0.04 pp	4 q
IPGThe Interpublic Group of Companies, Inc.	0.51%	13,132,411	$276M	added0%	−0.03 pp	20 q
JCIJohnson Controls International plc	0.50%	7,417,631	$274M	trimmed−2%	+0.05 pp	6 q
GSGoldman Sachs Group Inc.	0.48%	1,354,265	$260M	trimmed−1%	+0.02 pp	24 q
BWABorgWarner Inc.	0.46%	6,546,309	$251M	trimmed−2%	−0.01 pp	24 q
EBAYeBay Inc	0.45%	6,640,360	$247M	added0%	+0.07 pp	2 q
FDXFedEx Corporation	0.44%	1,309,209	$238M	trimmed−0%	+0.01 pp	24 q
LBRDKLiberty Broadband Corporation Class C	0.44%	2,637,034	$242M	trimmed−0%	+0.06 pp	14 q
BAXBaxter International Inc.	0.42%	2,843,046	$231M	trimmed−49%	−0.32 pp	13 q
WOOFoot Locker Inc	0.40%	3,589,655	$218M	trimmed−14%	−0.05 pp	24 q
NWSANews Corporation Class A	0.38%	16,563,337	$206M	added+5%	+0.02 pp	21 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.38%	828,201	$205M	trimmed−32%	−0.24 pp	24 q
HHCThe Howard Hughes Corporation	0.34%	1,661,526	$183M	trimmed−2%	0.00 pp	24 q
SPGIS&P Global Inc.	0.34%	879,766	$185M	new	+0.34 pp	new
9991429DAptiv Irish Holdings Ltd	0.33%	2,249,965	$179M	added0%	+0.05 pp	6 q
THCTenet Healthcare Corporation New	0.32%	6,005,712	$173M	trimmed−3%	+0.11 pp	24 q
LIVNLivaNova PLC	0.29%	1,644,726	$160M	added×2.8	+0.18 pp	6 q
CSLCarlisle Companies, Inc.	0.28%	1,228,199	$151M	trimmed−1%	+0.03 pp	5 q
UAUnder Armour, Inc. Class C, $0.0003 1/3 par value	0.28%	7,987,919	$151M	trimmed−4%	+0.01 pp	8 q
CLGXCorelogic, Inc.	0.27%	3,960,198	$148M	trimmed−2%	0.00 pp	6 q
LYVLive Nation Entertainment Inc.	0.25%	2,130,882	$135M	trimmed−15%	0.00 pp	24 q
POSTPost Holdings, Inc.	0.25%	1,258,675	$138M	added+1%	+0.03 pp	3 q
CHKChesapeake Energy Corp	0.24%	42,237,380	$131M	added+1%	+0.06 pp	18 q
GLPIGaming and Leisure Properties, Inc.	0.23%	3,301,538	$127M	trimmed−0%	+0.01 pp	22 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.22%	2,948,971	$121M	added+1%	0.00 pp	3 q
ADTADT Inc.	0.17%	14,073,438	$90M	added+19%	+0.03 pp	5 q
CRICarter's Inc.	0.17%	907,711	$91M	trimmed−0%	+0.02 pp	24 q
PDCEPDC Energy, Inc.	0.16%	2,093,645	$85M	trimmed−11%	+0.02 pp	7 q
APYChampionX Corporation	0.14%	1,923,707	$79M	trimmed−1%	+0.03 pp	4 q
unresolvedU S G Corp	0.13%	1,635,702	$71M	trimmed−42%	−0.11 pp	16 q
DLPHBorgwarner Jersey Ltd	0.13%	3,813,947	$73M	added×48.0	+0.13 pp	6 q
BLQADBlackrock Inc	0.12%	152,021	$65M	added+2%	0.00 pp	24 q
VLRSControladora Vuela Compania De Aviacion, S.a.b. De C.v.	0.11%	6,980,650	$59M	trimmed−3%	+0.03 pp	7 q
unresolvedAon PLC	0.11%	339,342	$58M	trimmed−70%	−0.23 pp	24 q
CRTOCriteo S.A.	0.09%	2,433,800	$49M	trimmed−8%	−0.03 pp	7 q
0WEWeatherford International plc	0.09%	67,000,000	$47M	new	+0.09 pp	new
BMYBristol-Myers Squibb Co.	0.08%	856,674	$41M	trimmed−88%	−0.68 pp	7 q
CHRWC.H. Robinson Worldwide, Inc.	0.07%	429,423	$37M	trimmed−20%	−0.02 pp	12 q
CDEVPermian Resources Corporation	0.07%	4,285,014	$38M	trimmed−8%	−0.03 pp	4 q
HRIHerc Holdings Inc.	0.07%	1,037,737	$40M	added+9%	+0.02 pp	12 q
THOThor Industries, Inc.	0.07%	646,187	$40M	added+15%	+0.01 pp	4 q
WCCWesco International Inc.	0.07%	709,425	$38M	trimmed−0%	0.00 pp	20 q
ALVAutoliv, Inc.	0.05%	371,635	$27M	new	+0.05 pp	new
KMXCarMax Inc.	0.05%	378,836	$26M	trimmed−6%	0.00 pp	24 q
DOVDover Corporation	0.05%	270,442	$25M	trimmed−80%	−0.15 pp	24 q
EFXEquifax, Incorporated	0.05%	237,182	$28M	added+1%	+0.01 pp	4 q
MASMasco Corporation	0.05%	633,530	$25M	added+46%	+0.02 pp	2 q
SLCAU.s. Silica Holdings, Inc.	0.05%	1,641,200	$28M	added+2%	+0.02 pp	6 q
TRNTrinity Industries, Inc.	0.04%	879,893	$19M	added×2.4	+0.02 pp	8 q
ACAArcosa, Inc.	0.03%	603,579	$18M	added+18%	0.00 pp	2 q
WABWabtec Inc.	0.03%	201,571	$15M	new	+0.03 pp	new
AXTAAxalta Coating Systems Ltd.	0.03%	587,621	$15M	trimmed−2%	0.00 pp	14 q
CDWCDW Corporation	0.02%	115,000	$11M	trimmed−30%	−0.01 pp	15 q
QRVOQorvo, Inc.	0.02%	145,609	$10M	trimmed−81%	−0.07 pp	6 q
ZBHZimmer Biomet Holdings, Inc.	0.02%	87,187	$11M	trimmed−3%	0.00 pp	5 q
JPMJPMorgan Chase & Co.	0.01%	39,152	$4M	trimmed−1%	0.00 pp	24 q
AMTTd Ameritrade Holding Corp	0.01%	57,465	$3M	added+18%	+0.01 pp	2 q
unresolvedUnilever Spn.Adr 1:1	0.01%	139,934	$8M	trimmed−82%	−0.07 pp	24 q
WPPWpp PLC	0.01%	148,600	$8M	trimmed−6%	−0.01 pp	7 q
BKRBaker Hughes Company	0.00%	44,132	$1M	trimmed−6%	0.00 pp	7 q
BCBrunswick Corporation	0.00%	12,925	$651,000	trimmed−1%	0.00 pp	6 q
CVXChevron Corporation	0.00%	2,000	$246,000	held	—	11 q
ETRAE*trade Financial Corp	0.00%	26,825	$1M	new	0.00 pp	new
FBINFortune Brands Innovations, Inc.	0.00%	31,770	$2M	added+15%	0.00 pp	3 q
ITWIllinois Tool Works Inc.	0.00%	4,000	$574,000	held	—	24 q
MANManpowerGroup	0.00%	14,190	$1M	new	0.00 pp	new
MSFTMicrosoft Corp	0.00%	2,500	$295,000	trimmed−1%	0.00 pp	24 q
RRCRange Resources Corp	0.00%	20,000	$225,000	held	—	5 q
SLBSLB Limited	0.00%	35,850	$2M	added+4%	0.00 pp	2 q
USBU.S. Bancorp	0.00%	16,263	$784,000	trimmed−7%	0.00 pp	24 q
FLEXFlex Ltd.	—	−5,806,390	—	exited	−0.09 pp	—
CTRPTrip.com Group Limited	—	−1,515,900	—	exited	−0.08 pp	—
MDTMedtronic plc	—	−254,463	—	exited	−0.05 pp	—
unresolvedEllie Mae	—	−106,000	—	exited	−0.01 pp	—