Harris Associates (Oakmark)

Q4 2019 13F · by Bill Nygren, CIO

As of: Dec 31, 2019
Filed: Feb 14, 2020
US stock: $56.4B · prev $51.5B
Positions: 130 · prev 129
Options notional: $0
Documents: 1· 1 amendment

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

+4.3 pp in · −4.1 pp out

New 7 +0.73 pp
Added 36 +3.55 pp
Trimmed 79 −3.96 pp
Exited 6 −0.19 pp

The book

Diversified · behaves like 48 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 18% a year, about 5.5 years per position

Low
Moderate
High

Top 5 positions21% of US stock

BAC Bank of America Corporation trimmed+0.30 pp trimmed+0.305.1%
C Citigroup Inc. trimmed−0.04 pp trimmed−0.044.7%
CHTR Charter Comm Inc Del CL A New trimmed0.00 pp trimmed0.004.0%
GM General Motors Company added−0.45 pp added−0.453.8%
0VQJL Te Connectivity Ltd trimmed−0.34 pp trimmed−0.343.4%

Revealed late, restated

restated 0 rows corrected by the filer · US stock 0.00%; later quarters recomputed 13F-HR/A · Feb 14, 2020 ↗

Positions130 in this filing · 6 exited


BACBank of America Corporation	5.11%	81,850,694	$2.9B	trimmed−4%	+0.30 pp	27 q
CCitigroup Inc.	4.72%	33,299,826	$2.7B	trimmed−6%	−0.04 pp	24 q
CHTRCharter Comm Inc Del CL A New	3.97%	4,621,460	$2.2B	trimmed−7%	0.00 pp	15 q
GMGeneral Motors Company	3.77%	58,054,730	$2.1B	added0%	−0.45 pp	27 q
0VQJLTe Connectivity Ltd	3.39%	19,936,650	$1.9B	trimmed−3%	−0.34 pp	27 q
GOOGAlphabet Inc. Class C	3.27%	1,377,588	$1.8B	trimmed−35%	−1.76 pp	23 q
GOOGLAlphabet Inc. Class A	3.11%	1,309,629	$1.8B	added×2.2	+1.70 pp	17 q
REGNRegeneron Pharmaceuticals Inc	2.91%	4,366,846	$1.6B	added+5%	+0.68 pp	8 q
RYAAYRyanair Holdings plc	2.83%	18,214,527	$1.6B	trimmed−10%	+0.22 pp	8 q
HLTHilton Worldwide Holdings Inc.	2.74%	13,914,234	$1.5B	added+1%	+0.24 pp	8 q
AIGAmerican International Group, Inc.	2.68%	29,459,399	$1.5B	added0%	−0.50 pp	27 q
BKNGBooking Holdings Inc.	2.43%	667,090	$1.4B	added+7%	+0.05 pp	8 q
MAMastercard Incorporated	2.24%	4,226,703	$1.3B	trimmed−9%	−0.22 pp	27 q
ALLYAlly Financial Inc.	1.87%	34,482,522	$1.1B	trimmed−2%	−0.39 pp	17 q
NFLXNetFlix Inc	1.77%	3,088,719	$999M	trimmed−0%	+0.17 pp	10 q
CMCSAComcast Corp	1.66%	20,840,262	$937M	added+1%	−0.15 pp	27 q
BIDUBaidu, Inc.	1.49%	6,627,979	$838M	added+6%	+0.25 pp	18 q
HCAHCA Healthcare, Inc.	1.49%	5,685,667	$840M	added+3%	+0.20 pp	16 q
MCOMoody's Corporation	1.49%	3,531,961	$839M	added+2%	+0.12 pp	12 q
LBTYALiberty Global Ltd. Class A	1.49%	36,959,912	$840M	added+14%	−0.07 pp	10 q
unresolvedFiat Chrysler Automobiles NV s	1.44%	55,386,066	$814M	trimmed−9%	−0.08 pp	19 q
COFCapital One Financial	1.39%	7,598,682	$782M	trimmed−8%	−0.08 pp	27 q
CVSCvs Health Corporation	1.35%	10,287,222	$764M	trimmed−17%	−0.16 pp	27 q
TVGrupo Televisa S.A.	1.35%	65,064,228	$763M	added+6%	+0.19 pp	17 q
SCHWThe Charles Schwab Corporation	1.34%	15,855,223	$754M	trimmed−2%	+0.03 pp	6 q
CBRECbre Group, Inc.	1.28%	11,804,632	$724M	trimmed−3%	+0.02 pp	24 q
STZConstellation Brands, Inc.	1.21%	3,606,633	$684M	added+6%	−0.16 pp	4 q
CVECenovus Energy Inc.	1.18%	65,164,463	$663M	added+9%	+0.09 pp	8 q
unresolvedGeneral Electric Co	1.10%	55,732,068	$622M	trimmed−26%	−0.21 pp	27 q
MGMMgm Resorts International	1.09%	18,456,044	$614M	trimmed−2%	+0.08 pp	16 q
STTState Street Corporation	1.05%	7,491,642	$593M	trimmed−5%	+0.14 pp	27 q
WFCWells Fargo & Co.	1.05%	11,030,253	$593M	trimmed−1%	−0.04 pp	27 q
METAMeta Platforms, Inc. Class A	1.04%	2,854,538	$586M	added+4%	+0.09 pp	8 q
ORCLOracle Corp	1.04%	11,034,367	$585M	trimmed−4%	−0.18 pp	27 q
CATCaterpillar Inc.	0.95%	3,638,656	$537M	added+2%	+0.07 pp	25 q
LEALear Corporation	0.95%	3,907,645	$536M	trimmed−3%	+0.03 pp	27 q
9990302DApache Corp	0.93%	20,563,519	$526M	added+9%	−0.01 pp	27 q
ARNCHowmet Aerospace Inc.	0.93%	17,012,319	$523M	trimmed−1%	+0.06 pp	12 q
AAPLApple Inc.	0.89%	1,707,743	$501M	trimmed−28%	−0.13 pp	27 q
AALAmerican Airlines Group Inc.	0.86%	16,925,979	$485M	trimmed−6%	−0.08 pp	9 q
VVISA Inc.	0.86%	2,569,883	$483M	trimmed−8%	−0.07 pp	27 q
CXOConcho Resources Inc.	0.82%	5,252,326	$460M	added+6%	+0.17 pp	3 q
INTCIntel Corp	0.81%	7,630,592	$457M	trimmed−13%	−0.07 pp	27 q
LBTYKLiberty Global Ltd. Class C	0.81%	20,909,960	$456M	added+52%	+0.17 pp	10 q
PHParker-Hannifin Corporation	0.71%	1,942,835	$400M	trimmed−10%	−0.05 pp	27 q
LUVSouthwest Airlines Co.	0.68%	7,054,643	$381M	added+3%	−0.04 pp	10 q
BNYBank of New York Mellon Corporation	0.60%	6,723,239	$338M	trimmed−12%	−0.07 pp	27 q
CMICummins Inc.	0.58%	1,815,080	$325M	trimmed−2%	−0.01 pp	27 q
HUMHumana Inc.	0.58%	894,296	$328M	added+7%	+0.16 pp	2 q
FANGDiamondback Energy, Inc.	0.57%	3,470,665	$322M	trimmed−2%	−0.05 pp	3 q
PMPhilip Morris International Inc.	0.57%	3,800,935	$323M	added0%	+0.01 pp	27 q
GSGoldman Sachs Group Inc.	0.55%	1,350,604	$311M	trimmed−0%	+0.01 pp	27 q
OTEXOpen Text Corp	0.54%	6,849,200	$302M	added+91%	+0.26 pp	2 q
TXNTexas Instruments Incorporated	0.54%	2,352,999	$302M	trimmed−5%	−0.08 pp	27 q
IPGThe Interpublic Group of Companies, Inc.	0.52%	12,680,933	$293M	trimmed−1%	−0.02 pp	23 q
LBRDKLiberty Broadband Corporation Class C	0.52%	2,337,685	$294M	trimmed−5%	+0.02 pp	17 q
ITGartner, Inc.	0.51%	1,865,488	$287M	trimmed−2%	−0.02 pp	7 q
HALHalliburton Company	0.50%	11,537,755	$282M	trimmed−29%	−0.09 pp	5 q
BWABorgWarner Inc.	0.49%	6,354,639	$276M	trimmed−4%	+0.02 pp	27 q
DXCDXC Technology Company	0.49%	7,376,794	$277M	added+76%	+0.25 pp	9 q
EOGEOG Resources, Inc.	0.49%	3,327,527	$279M	added+63%	+0.20 pp	3 q
NOVNOV Inc.	0.49%	11,020,680	$276M	trimmed−10%	−0.01 pp	27 q
AAgilent Technologies Inc.	0.44%	2,903,029	$248M	trimmed−1%	+0.01 pp	2 q
HHCThe Howard Hughes Corporation	0.43%	1,902,034	$241M	trimmed−0%	−0.05 pp	27 q
EBAYeBay Inc	0.42%	6,491,618	$234M	trimmed−2%	−0.08 pp	5 q
SPGIS&P Global Inc.	0.42%	860,710	$235M	trimmed−2%	0.00 pp	4 q
THCTenet Healthcare Corporation New	0.42%	6,184,292	$235M	trimmed−4%	+0.14 pp	27 q
DEODiageo plc	0.41%	1,358,722	$229M	trimmed−21%	−0.14 pp	27 q
JCIJohnson Controls International plc	0.41%	5,676,428	$231M	trimmed−1%	−0.08 pp	9 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.40%	767,491	$226M	trimmed−0%	+0.08 pp	27 q
9991429DAptiv Irish Holdings Ltd	0.37%	2,199,527	$209M	trimmed−2%	−0.01 pp	9 q
BRK.BBERKSHIRE HATHAWAY Class B	0.36%	885,859	$201M	new	+0.36 pp	new
CLGXCorelogic, Inc.	0.36%	4,583,142	$200M	added+7%	−0.02 pp	9 q
LIVNLivaNova PLC	0.36%	2,697,007	$203M	added+1%	−0.02 pp	9 q
ADPAutomatic Data Processing	0.35%	1,170,679	$200M	trimmed−2%	−0.03 pp	27 q
FDXFedEx Corporation	0.34%	1,254,830	$190M	trimmed−3%	−0.03 pp	27 q
unresolvedQurate Retail Inc	0.34%	22,521,565	$190M	trimmed−4%	−0.13 pp	7 q
CSLCarlisle Companies, Inc.	0.32%	1,118,325	$181M	added0%	0.00 pp	8 q
LYVLive Nation Entertainment Inc.	0.26%	2,014,142	$144M	trimmed−1%	0.00 pp	27 q
WOOFoot Locker Inc	0.25%	3,602,955	$140M	trimmed−0%	−0.05 pp	27 q
GLPIGaming and Leisure Properties, Inc.	0.25%	3,215,917	$138M	trimmed−0%	+0.01 pp	25 q
POSTPost Holdings, Inc.	0.24%	1,256,821	$137M	trimmed−1%	−0.02 pp	6 q
UAUnder Armour, Inc. Class C, $0.0003 1/3 par value	0.23%	6,748,312	$129M	trimmed−1%	−0.01 pp	11 q
TCOMTrip.com Group Limited	0.21%	3,538,306	$119M	new	+0.21 pp	new
CRICarter's Inc.	0.20%	1,013,045	$111M	added+1%	+0.02 pp	27 q
APYChampionX Corporation	0.15%	2,522,940	$85M	trimmed−2%	+0.02 pp	7 q
WTWWillis Towers Watson Public Limited Company	0.15%	427,194	$86M	trimmed−11%	−0.03 pp	16 q
ADTADT Inc.	0.13%	9,536,688	$76M	trimmed−14%	−0.01 pp	8 q
BLQADBlackrock Inc	0.13%	146,559	$74M	added+2%	+0.01 pp	27 q
TRNTrinity Industries, Inc.	0.13%	3,348,274	$74M	trimmed−4%	0.00 pp	11 q
VLRSControladora Vuela Compania De Aviacion, S.a.b. De C.v.	0.11%	5,894,758	$61M	trimmed−6%	−0.01 pp	10 q
HRIHerc Holdings Inc.	0.10%	1,165,418	$57M	added+3%	0.00 pp	15 q
WCCWesco International Inc.	0.10%	914,751	$54M	held	—	23 q
BBBlackBerry Limited	0.09%	7,505,600	$48M	new	+0.09 pp	new
THOThor Industries, Inc.	0.09%	655,747	$49M	added+1%	+0.02 pp	7 q
unresolvedAon PLC	0.09%	237,977	$50M	trimmed−8%	−0.01 pp	27 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.08%	749,545	$44M	trimmed−65%	−0.11 pp	6 q
DLPHBorgwarner Jersey Ltd	0.08%	3,728,650	$48M	trimmed−2%	−0.02 pp	9 q
ALVAutoliv, Inc.	0.07%	463,140	$39M	trimmed−23%	−0.02 pp	4 q
MASMasco Corporation	0.07%	767,775	$37M	trimmed−0%	+0.01 pp	5 q
WABWabtec Inc.	0.07%	492,044	$38M	trimmed−1%	0.00 pp	4 q
CRTOCriteo S.A.	0.06%	1,816,800	$31M	trimmed−20%	−0.02 pp	10 q
PDCEPDC Energy, Inc.	0.06%	1,363,687	$36M	trimmed−19%	−0.03 pp	10 q
ACAArcosa, Inc.	0.05%	604,350	$27M	trimmed−0%	+0.01 pp	5 q
EFXEquifax, Incorporated	0.05%	201,643	$28M	added+3%	0.00 pp	7 q
CHRWC.H. Robinson Worldwide, Inc.	0.04%	318,382	$25M	trimmed−21%	−0.03 pp	15 q
NDAQNasdaq, Inc.	0.04%	215,045	$23M	added+33%	+0.01 pp	3 q
BAXBaxter International Inc.	0.03%	187,609	$16M	trimmed−39%	−0.02 pp	16 q
CDKCDK Global, Inc.	0.03%	267,133	$15M	added+5%	+0.01 pp	2 q
CDEVPermian Resources Corporation	0.03%	4,127,380	$19M	trimmed−19%	−0.01 pp	7 q
GILGildan Activewear Inc.	0.03%	580,600	$17M	new	+0.03 pp	new
QRVOQorvo, Inc.	0.03%	136,064	$16M	trimmed−1%	+0.01 pp	9 q
DOVDover Corporation	0.02%	116,018	$13M	trimmed−9%	0.00 pp	27 q
PINSPinterest, Inc. Class A	0.02%	637,205	$12M	new	+0.02 pp	new
WDAYWorkday, Inc. Class A	0.02%	81,400	$13M	new	+0.02 pp	new
ZBHZimmer Biomet Holdings, Inc.	0.02%	77,754	$12M	trimmed−7%	0.00 pp	8 q
AXTAAxalta Coating Systems Ltd.	0.02%	323,886	$10M	added+5%	0.00 pp	17 q
JPMJPMorgan Chase & Co.	0.01%	37,352	$5M	held	—	27 q
BCBrunswick Corporation	0.00%	10,850	$651,000	held	—	9 q
KMXCarMax Inc.	0.00%	8,575	$752,000	held	—	27 q
ETRAE*trade Financial Corp	0.00%	25,825	$1M	held	—	4 q
FBINFortune Brands Innovations, Inc.	0.00%	19,645	$1M	trimmed−31%	0.00 pp	6 q
ITWIllinois Tool Works Inc.	0.00%	3,100	$557,000	held	—	27 q
LBRDALiberty Broadband Corporation Class A	0.00%	15,000	$2M	new	0.00 pp	new
MANManpowerGroup	0.00%	11,465	$1M	trimmed−7%	0.00 pp	4 q
MSFTMicrosoft Corp	0.00%	2,500	$394,000	held	—	27 q
CRMSalesforce, Inc.	0.00%	3,200	$520,000	held	—	2 q
AMTTd Ameritrade Holding Corp	0.00%	40,720	$2M	trimmed−97%	−0.12 pp	5 q
USBU.S. Bancorp	0.00%	3,400	$202,000	trimmed−43%	0.00 pp	27 q
SLCAU.s. Silica Holdings, Inc.	0.00%	380,600	$2M	trimmed−75%	−0.03 pp	9 q
CHKChesapeake Energy Corp	—	−61,725,001	—	exited	−0.17 pp	—
WPPWpp PLC	—	−169,300	—	exited	−0.02 pp	—
BKRBaker Hughes Company	—	−24,532	—	exited	0.00 pp	—
RRCRange Resources Corp	—	−20,000	—	exited	0.00 pp	—
SLBSLB Limited	—	−47,750	—	exited	0.00 pp	—
unresolvedUnilever Spn.Adr 1:1	—	−3,800	—	exited	0.00 pp	—