Harris Associates (Oakmark)

Q3 2019 13F · by Bill Nygren, CIO

As of: Sep 30, 2019
Filed: Nov 14, 2019
US stock: $51.5B · prev $54.4B
Positions: 129 · prev 127
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%

Moves131 since the prior filing

+1.6 pp in · −1.7 pp out

New 5 +1.15 pp
Added 34 +0.50 pp
Trimmed 87 −1.57 pp
Exited 3 −0.17 pp

Options: 2 moves on a notional base, in the table below.

The book

Diversified · behaves like 46 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 9.8% a year, about 10.2 years per position

Low
Moderate
High

Top 5 positions23% of US stock

Positions129 in this filing · 3 exited


GOOGAlphabet Inc. Class C	5.03%	2,127,758	$2.6B	trimmed−4%	+0.61 pp	22 q
BACBank of America Corporation	4.81%	84,912,898	$2.5B	trimmed−5%	+0.05 pp	26 q
CCitigroup Inc.	4.76%	35,495,711	$2.5B	trimmed−2%	+0.10 pp	23 q
GMGeneral Motors Company	4.22%	57,971,007	$2.2B	trimmed−4%	−0.06 pp	26 q
CHTRCharter Comm Inc Del CL A New	3.97%	4,966,644	$2.0B	trimmed−11%	−0.07 pp	14 q
0VQJLTe Connectivity Ltd	3.73%	20,623,704	$1.9B	trimmed−7%	−0.16 pp	26 q
AIGAmerican International Group, Inc.	3.18%	29,450,537	$1.6B	trimmed−8%	+0.05 pp	26 q
RYAAYRyanair Holdings plc	2.61%	20,261,808	$1.3B	added+2%	+0.27 pp	7 q
HLTHilton Worldwide Holdings Inc.	2.50%	13,824,328	$1.3B	trimmed−2%	−0.02 pp	7 q
MAMastercard Incorporated	2.46%	4,668,045	$1.3B	trimmed−19%	−0.34 pp	26 q
BKNGBooking Holdings Inc.	2.38%	625,007	$1.2B	trimmed−1%	+0.20 pp	7 q
ALLYAlly Financial Inc.	2.26%	35,179,830	$1.2B	trimmed−6%	+0.14 pp	16 q
REGNRegeneron Pharmaceuticals Inc	2.23%	4,141,452	$1.1B	added+6%	−0.02 pp	7 q
CMCSAComcast Corp	1.81%	20,725,873	$934M	trimmed−10%	+0.02 pp	26 q
NFLXNetFlix Inc	1.60%	3,089,280	$827M	added+1%	−0.48 pp	9 q
LBTYALiberty Global Ltd. Class A	1.56%	32,487,019	$804M	added+1%	−0.04 pp	9 q
unresolvedFiat Chrysler Automobiles NV s	1.52%	60,580,052	$785M	trimmed−3%	−0.06 pp	18 q
CVSCvs Health Corporation	1.51%	12,347,703	$779M	trimmed−2%	+0.25 pp	26 q
COFCapital One Financial	1.47%	8,298,666	$755M	trimmed−1%	+0.07 pp	26 q
GOOGLAlphabet Inc. Class A	1.41%	594,609	$726M	trimmed−1%	+0.21 pp	16 q
STZConstellation Brands, Inc.	1.37%	3,393,443	$703M	trimmed−1%	+0.13 pp	3 q
MCOMoody's Corporation	1.37%	3,455,852	$708M	trimmed−4%	+0.08 pp	11 q
unresolvedGeneral Electric Co	1.31%	75,634,379	$676M	trimmed−10%	−0.31 pp	26 q
SCHWThe Charles Schwab Corporation	1.31%	16,182,762	$677M	added+1%	+0.13 pp	5 q
HCAHCA Healthcare, Inc.	1.29%	5,513,094	$664M	added+4%	−0.03 pp	15 q
CBRECbre Group, Inc.	1.26%	12,228,331	$648M	trimmed−3%	+0.07 pp	23 q
BIDUBaidu, Inc.	1.24%	6,224,701	$640M	added+10%	+0.02 pp	17 q
ORCLOracle Corp	1.22%	11,466,849	$631M	trimmed−1%	0.00 pp	26 q
TVGrupo Televisa S.A.	1.16%	61,177,728	$598M	added+1%	+0.22 pp	16 q
CVECenovus Energy Inc.	1.09%	59,579,429	$559M	trimmed−0%	+0.12 pp	7 q
WFCWells Fargo & Co.	1.09%	11,126,014	$561M	trimmed−1%	+0.11 pp	26 q
AAPLApple Inc.	1.02%	2,356,747	$528M	trimmed−30%	−0.20 pp	26 q
MGMMgm Resorts International	1.01%	18,777,934	$521M	trimmed−1%	+0.01 pp	15 q
METAMeta Platforms, Inc. Class A	0.95%	2,752,823	$490M	trimmed−0%	−0.03 pp	7 q
AALAmerican Airlines Group Inc.	0.94%	17,998,141	$485M	trimmed−2%	−0.16 pp	8 q
9990302DApache Corp	0.94%	18,904,576	$484M	trimmed−2%	−0.09 pp	26 q
VVISA Inc.	0.93%	2,782,504	$479M	trimmed−20%	−0.17 pp	26 q
LEALear Corporation	0.92%	4,012,662	$473M	added+11%	−0.01 pp	26 q
STTState Street Corporation	0.91%	7,896,594	$467M	trimmed−3%	+0.07 pp	26 q
CATCaterpillar Inc.	0.88%	3,575,282	$452M	trimmed−1%	−0.02 pp	24 q
INTCIntel Corp	0.88%	8,771,703	$452M	trimmed−8%	+0.04 pp	26 q
ARNCHowmet Aerospace Inc.	0.87%	17,230,991	$448M	trimmed−4%	+0.02 pp	11 q
PHParker-Hannifin Corporation	0.76%	2,160,938	$390M	trimmed−8%	+0.03 pp	26 q
LUVSouthwest Airlines Co.	0.72%	6,864,312	$371M	added+13%	+0.15 pp	9 q
BNYBank of New York Mellon Corporation	0.67%	7,666,208	$347M	trimmed−1%	+0.04 pp	26 q
CXOConcho Resources Inc.	0.65%	4,961,812	$337M	added+27%	−0.09 pp	2 q
LBTYKLiberty Global Ltd. Class C	0.64%	13,799,815	$328M	trimmed−45%	−0.58 pp	9 q
FANGDiamondback Energy, Inc.	0.62%	3,557,522	$320M	added+22%	+0.03 pp	2 q
TXNTexas Instruments Incorporated	0.62%	2,470,864	$319M	trimmed−33%	−0.16 pp	26 q
CMICummins Inc.	0.59%	1,852,984	$301M	trimmed−1%	0.00 pp	26 q
HALHalliburton Company	0.59%	16,168,877	$305M	added+8%	−0.04 pp	4 q
PMPhilip Morris International Inc.	0.56%	3,793,845	$288M	trimmed−4%	−0.01 pp	26 q
DEODiageo plc	0.55%	1,723,843	$282M	trimmed−9%	−0.05 pp	26 q
GSGoldman Sachs Group Inc.	0.54%	1,350,780	$280M	trimmed−0%	+0.03 pp	26 q
IPGThe Interpublic Group of Companies, Inc.	0.54%	12,827,997	$277M	added0%	+0.01 pp	22 q
ITGartner, Inc.	0.53%	1,907,808	$273M	trimmed−0%	−0.03 pp	6 q
EBAYeBay Inc	0.50%	6,642,853	$259M	trimmed−0%	+0.02 pp	4 q
LBRDKLiberty Broadband Corporation Class C	0.50%	2,448,039	$256M	trimmed−4%	+0.01 pp	16 q
NOVNOV Inc.	0.50%	12,267,851	$260M	trimmed−14%	−0.08 pp	26 q
JCIJohnson Controls International plc	0.49%	5,762,366	$253M	trimmed−13%	−0.01 pp	8 q
HHCThe Howard Hughes Corporation	0.48%	1,909,173	$247M	trimmed−1%	+0.04 pp	26 q
BWABorgWarner Inc.	0.47%	6,636,439	$243M	added+1%	−0.04 pp	26 q
unresolvedQurate Retail Inc	0.47%	23,386,285	$241M	trimmed−6%	−0.10 pp	6 q
AAgilent Technologies Inc.	0.43%	2,922,789	$224M	new	+0.43 pp	new
HUMHumana Inc.	0.42%	836,585	$214M	new	+0.42 pp	new
SPGIS&P Global Inc.	0.42%	880,684	$216M	added0%	+0.05 pp	3 q
ADPAutomatic Data Processing	0.38%	1,196,977	$193M	trimmed−33%	−0.17 pp	26 q
CLGXCorelogic, Inc.	0.38%	4,282,428	$198M	added+12%	+0.09 pp	8 q
LIVNLivaNova PLC	0.38%	2,666,344	$197M	added+4%	+0.04 pp	8 q
9991429DAptiv Irish Holdings Ltd	0.38%	2,250,781	$197M	trimmed−0%	+0.05 pp	8 q
FDXFedEx Corporation	0.37%	1,300,070	$189M	trimmed−1%	−0.03 pp	26 q
CSLCarlisle Companies, Inc.	0.32%	1,115,555	$162M	trimmed−7%	+0.01 pp	7 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.32%	767,591	$167M	trimmed−7%	−0.05 pp	26 q
WOOFoot Locker Inc	0.30%	3,603,955	$156M	added0%	+0.02 pp	26 q
EOGEOG Resources, Inc.	0.29%	2,044,915	$152M	added+11%	−0.03 pp	2 q
OTEXOpen Text Corp	0.28%	3,581,300	$146M	new	+0.28 pp	new
THCTenet Healthcare Corporation New	0.28%	6,421,062	$142M	added+3%	+0.04 pp	26 q
LYVLive Nation Entertainment Inc.	0.26%	2,033,487	$135M	trimmed−4%	0.00 pp	26 q
POSTPost Holdings, Inc.	0.26%	1,268,301	$134M	added+5%	+0.03 pp	5 q
DXCDXC Technology Company	0.24%	4,195,867	$124M	added×10.5	+0.20 pp	8 q
GLPIGaming and Leisure Properties, Inc.	0.24%	3,230,252	$124M	trimmed−2%	0.00 pp	24 q
UAUnder Armour, Inc. Class C, $0.0003 1/3 par value	0.24%	6,811,177	$123M	added0%	−0.04 pp	10 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.19%	2,128,391	$99M	trimmed−21%	0.00 pp	5 q
CRICarter's Inc.	0.18%	1,007,515	$92M	added+11%	+0.02 pp	26 q
WTWWillis Towers Watson Public Limited Company	0.18%	482,369	$93M	trimmed−83%	−0.81 pp	15 q
CHKChesapeake Energy Corp	0.17%	61,725,001	$87M	trimmed−1%	−0.05 pp	20 q
ADTADT Inc.	0.14%	11,137,130	$70M	trimmed−4%	+0.01 pp	7 q
APYChampionX Corporation	0.13%	2,568,347	$69M	added+22%	0.00 pp	6 q
TRNTrinity Industries, Inc.	0.13%	3,479,975	$68M	added+46%	+0.04 pp	10 q
BLQADBlackrock Inc	0.12%	143,414	$64M	trimmed−2%	−0.01 pp	26 q
VLRSControladora Vuela Compania De Aviacion, S.a.b. De C.v.	0.12%	6,243,758	$63M	trimmed−8%	0.00 pp	9 q
AMTTd Ameritrade Holding Corp	0.12%	1,275,765	$60M	added0%	0.00 pp	4 q
HRIHerc Holdings Inc.	0.10%	1,133,705	$53M	added+2%	+0.01 pp	14 q
unresolvedAon PLC	0.10%	259,192	$50M	trimmed−18%	−0.01 pp	26 q
DLPHBorgwarner Jersey Ltd	0.10%	3,815,850	$51M	added0%	−0.04 pp	8 q
ALVAutoliv, Inc.	0.09%	604,315	$48M	trimmed−8%	0.00 pp	3 q
PDCEPDC Energy, Inc.	0.09%	1,679,722	$47M	trimmed−30%	−0.07 pp	9 q
CRTOCriteo S.A.	0.08%	2,277,000	$43M	trimmed−5%	0.00 pp	9 q
WCCWesco International Inc.	0.08%	914,751	$44M	trimmed−0%	−0.01 pp	22 q
CHRWC.H. Robinson Worldwide, Inc.	0.07%	401,027	$34M	trimmed−3%	+0.01 pp	14 q
THOThor Industries, Inc.	0.07%	646,637	$37M	trimmed−0%	0.00 pp	6 q
WABWabtec Inc.	0.07%	494,854	$36M	trimmed−2%	0.00 pp	3 q
MASMasco Corporation	0.06%	768,630	$32M	trimmed−10%	0.00 pp	4 q
BAXBaxter International Inc.	0.05%	309,709	$27M	trimmed−79%	−0.17 pp	15 q
EFXEquifax, Incorporated	0.05%	195,713	$28M	trimmed−11%	0.00 pp	6 q
ACAArcosa, Inc.	0.04%	606,748	$21M	trimmed−1%	0.00 pp	4 q
CDEVPermian Resources Corporation	0.04%	5,124,339	$23M	added+12%	−0.02 pp	6 q
NDAQNasdaq, Inc.	0.03%	161,855	$16M	added+55%	+0.01 pp	2 q
SLCAU.s. Silica Holdings, Inc.	0.03%	1,528,400	$15M	added+4%	0.00 pp	8 q
CDKCDK Global, Inc.	0.02%	253,273	$12M	new	+0.02 pp	new
DOVDover Corporation	0.02%	128,018	$13M	trimmed−46%	−0.02 pp	26 q
QRVOQorvo, Inc.	0.02%	137,664	$10M	trimmed−1%	0.00 pp	8 q
WPPWpp PLC	0.02%	169,300	$11M	added+16%	0.00 pp	9 q
ZBHZimmer Biomet Holdings, Inc.	0.02%	83,330	$11M	trimmed−3%	0.00 pp	7 q
AXTAAxalta Coating Systems Ltd.	0.02%	307,871	$9M	trimmed−39%	−0.01 pp	16 q
JPMJPMorgan Chase & Co.	0.01%	37,352	$4M	trimmed−2%	0.00 pp	26 q
BKRBaker Hughes Company	0.00%	24,532	$569,000	trimmed−22%	0.00 pp	9 q
BCBrunswick Corporation	0.00%	10,850	$566,000	trimmed−5%	0.00 pp	8 q
KMXCarMax Inc.	0.00%	8,575	$755,000	trimmed−97%	−0.05 pp	26 q
ETRAE*trade Financial Corp	0.00%	25,825	$1M	trimmed−5%	0.00 pp	3 q
FBINFortune Brands Innovations, Inc.	0.00%	28,395	$2M	trimmed−3%	0.00 pp	5 q
ITWIllinois Tool Works Inc.	0.00%	3,100	$485,000	held	—	26 q
MANManpowerGroup	0.00%	12,265	$1M	trimmed−4%	0.00 pp	3 q
MSFTMicrosoft Corp	0.00%	2,500	$348,000	held	—	26 q
RRCRange Resources Corp	0.00%	20,000	$76,000	held	—	7 q
CRMSalesforce, Inc.	0.00%	3,200	$475,000	new	0.00 pp	new
SLBSLB Limited	0.00%	47,750	$2M	trimmed−1%	0.00 pp	4 q
USBU.S. Bancorp	0.00%	6,000	$332,000	trimmed−44%	0.00 pp	26 q
unresolvedUnilever Spn.Adr 1:1	0.00%	3,800	$228,000	trimmed−65%	0.00 pp	26 q
NWSANews Corporation Class A	—	−6,595,652	—	exited	−0.16 pp	—
BMYBristol-Myers Squibb Co.	—	−121,824	—	exited	−0.01 pp	—
APCAnadarko Petroleum Corp	—	−4,070	—	exited	0.00 pp	—