Harris Associates (Oakmark)

Q2 2020 13F · by Bill Nygren, CIO

As of: Jun 30, 2020
Filed: Aug 14, 2020
US stock: $41.1B · prev $36.1B
Positions: 132 · prev 129
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%

Moves133 since the prior filing

+5.6 pp in · −5.6 pp out

New 10 +0.89 pp
Added 28 +4.72 pp
Trimmed 88 −5.43 pp
Exited 7 −0.14 pp

The book

Diversified · behaves like 50 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 18% a year, about 5.6 years per position

Low
Moderate
High

Top 5 positions21% of US stock

GOOGL Alphabet Inc. Class A trimmed+0.05 pp trimmed+0.055.3%
BAC Bank of America Corporation trimmed−0.23 pp trimmed−0.234.3%
CHTR Charter Comm Inc Del CL A New trimmed−0.42 pp trimmed−0.423.8%
C Citigroup Inc. trimmed+0.05 pp trimmed+0.053.8%
0VQJL Te Connectivity Ltd trimmed−0.14 pp trimmed−0.143.2%

Positions132 in this filing · 7 exited


GOOGLAlphabet Inc. Class A	5.35%	1,551,369	$2.2B	trimmed−6%	+0.05 pp	19 q
BACBank of America Corporation	4.31%	74,650,002	$1.8B	trimmed−3%	−0.23 pp	29 q
CHTRCharter Comm Inc Del CL A New	3.82%	3,077,825	$1.6B	trimmed−12%	−0.42 pp	17 q
CCitigroup Inc.	3.82%	30,697,773	$1.6B	trimmed−5%	+0.05 pp	26 q
0VQJLTe Connectivity Ltd	3.24%	16,351,582	$1.3B	trimmed−16%	−0.14 pp	29 q
BKNGBooking Holdings Inc.	3.12%	805,778	$1.3B	trimmed−3%	+0.04 pp	10 q
GMGeneral Motors Company	2.86%	46,410,057	$1.2B	trimmed−23%	−0.62 pp	29 q
AIGAmerican International Group, Inc.	2.56%	33,771,062	$1.1B	added+6%	+0.41 pp	29 q
MAMastercard Incorporated	2.53%	3,522,455	$1.0B	trimmed−11%	−0.11 pp	29 q
GOOGAlphabet Inc. Class C	2.49%	724,497	$1.0B	trimmed−8%	−0.04 pp	25 q
HLTHilton Worldwide Holdings Inc.	2.37%	13,263,190	$974M	trimmed−2%	−0.20 pp	10 q
NFLXNetFlix Inc	2.25%	2,033,085	$925M	trimmed−13%	−0.17 pp	12 q
METAMeta Platforms, Inc. Class A	2.22%	4,013,941	$911M	trimmed−1%	+0.34 pp	10 q
STZConstellation Brands, Inc.	2.13%	4,995,139	$874M	trimmed−5%	+0.03 pp	6 q
RYAAYRyanair Holdings plc	2.05%	12,673,688	$841M	trimmed−19%	−0.24 pp	10 q
CMCSAComcast Corp	1.90%	20,051,289	$782M	trimmed−5%	−0.11 pp	29 q
HCAHCA Healthcare, Inc.	1.89%	8,022,145	$779M	added+35%	+0.41 pp	18 q
REGNRegeneron Pharmaceuticals Inc	1.86%	1,227,221	$765M	trimmed−47%	−1.27 pp	10 q
LBTYALiberty Global Ltd. Class A	1.75%	32,985,333	$721M	trimmed−7%	+0.13 pp	12 q
MCOMoody's Corporation	1.65%	2,465,466	$677M	trimmed−11%	+0.02 pp	14 q
ALLYAlly Financial Inc.	1.60%	33,264,227	$660M	trimmed−2%	+0.24 pp	19 q
CBRECbre Group, Inc.	1.44%	13,106,339	$593M	added+12%	+0.22 pp	26 q
AAgilent Technologies Inc.	1.34%	6,246,174	$552M	trimmed−7%	+0.01 pp	4 q
CVSCvs Health Corporation	1.28%	8,081,586	$525M	trimmed−5%	−0.12 pp	29 q
SCHWThe Charles Schwab Corporation	1.24%	15,113,604	$510M	added+8%	−0.07 pp	8 q
WDAYWorkday, Inc. Class A	1.24%	2,730,473	$512M	added×2.0	+0.75 pp	3 q
BRK.BBERKSHIRE HATHAWAY Class B	1.20%	2,754,227	$492M	added+27%	+0.10 pp	3 q
VVISA Inc.	1.19%	2,538,992	$490M	trimmed−1%	+0.05 pp	29 q
COFCapital One Financial	1.14%	7,508,541	$470M	trimmed−5%	+0.04 pp	29 q
BIDUBaidu, Inc.	1.12%	3,834,169	$460M	trimmed−2%	+0.02 pp	20 q
EOGEOG Resources, Inc.	1.04%	8,398,786	$425M	added+53%	+0.49 pp	5 q
CVECenovus Energy Inc.	1.03%	90,432,876	$422M	added0%	+0.53 pp	10 q
LEALear Corporation	0.99%	3,731,077	$407M	trimmed−8%	+0.08 pp	29 q
CATCaterpillar Inc.	0.98%	3,174,534	$402M	trimmed−2%	−0.06 pp	27 q
ORCLOracle Corp	0.96%	7,104,416	$393M	trimmed−4%	−0.03 pp	29 q
PINSPinterest, Inc. Class A	0.89%	16,522,332	$366M	added+40%	+0.39 pp	3 q
STTState Street Corporation	0.86%	5,576,488	$354M	trimmed−14%	−0.10 pp	29 q
TVGrupo Televisa S.A.	0.83%	64,750,973	$339M	trimmed−1%	−0.22 pp	19 q
HUMHumana Inc.	0.81%	854,010	$331M	trimmed−6%	+0.02 pp	4 q
unresolvedGeneral Electric Co	0.71%	43,029,393	$294M	trimmed−1%	−0.25 pp	29 q
RGAReinsurance Group of America, Incorporated	0.71%	3,712,660	$291M	added×4.3	+0.51 pp	2 q
OTEXOpen Text Corp	0.70%	6,808,100	$288M	trimmed−0%	+0.05 pp	4 q
WFCWells Fargo & Co.	0.66%	10,534,485	$270M	trimmed−13%	−0.30 pp	29 q
CMICummins Inc.	0.65%	1,552,518	$269M	trimmed−3%	+0.05 pp	29 q
GSGoldman Sachs Group Inc.	0.65%	1,356,246	$268M	trimmed−3%	+0.05 pp	29 q
HWMHowmet Aerospace Inc.	0.65%	16,901,514	$268M	trimmed−11%	−0.19 pp	14 q
PHParker-Hannifin Corporation	0.64%	1,433,211	$263M	trimmed−22%	−0.02 pp	29 q
BWABorgWarner Inc.	0.63%	7,281,684	$257M	trimmed−15%	+0.05 pp	29 q
EBAYeBay Inc	0.61%	4,782,511	$251M	trimmed−0%	+0.21 pp	7 q
MGMMgm Resorts International	0.61%	14,913,703	$251M	trimmed−17%	+0.02 pp	18 q
SPGIS&P Global Inc.	0.61%	764,599	$252M	trimmed−6%	+0.06 pp	6 q
LBRDKLiberty Broadband Corporation Class C	0.59%	1,954,538	$242M	trimmed−3%	−0.03 pp	19 q
9990302DApache Corp	0.58%	17,511,660	$236M	trimmed−12%	+0.35 pp	29 q
BNYBank of New York Mellon Corporation	0.58%	6,138,760	$237M	trimmed−0%	+0.01 pp	29 q
CLGXCorelogic, Inc.	0.54%	3,302,680	$222M	trimmed−25%	+0.17 pp	11 q
TCOMTrip.com Group Limited	0.54%	8,575,077	$222M	added+21%	+0.08 pp	3 q
unresolvedQurate Retail Inc	0.53%	23,116,686	$220M	trimmed−2%	+0.13 pp	9 q
ITGartner, Inc.	0.52%	1,769,503	$215M	trimmed−0%	+0.03 pp	9 q
AXPAmerican Express Company	0.51%	2,208,728	$210M	added+8%	+0.02 pp	2 q
IPGThe Interpublic Group of Companies, Inc.	0.49%	11,646,275	$200M	trimmed−4%	−0.05 pp	25 q
PMPhilip Morris International Inc.	0.47%	2,743,820	$192M	trimmed−26%	−0.28 pp	29 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.47%	653,997	$193M	trimmed−11%	−0.04 pp	29 q
JCIJohnson Controls International plc	0.47%	5,670,393	$194M	added+14%	+0.10 pp	11 q
DXCDXC Technology Company	0.43%	10,634,180	$175M	trimmed−1%	+0.04 pp	11 q
LUVSouthwest Airlines Co.	0.41%	4,871,914	$167M	trimmed−39%	−0.37 pp	12 q
MTCHMatch Group, Inc	0.40%	1,538,094	$165M	trimmed−0%	+0.12 pp	2 q
LBTYKLiberty Global Ltd. Class C	0.40%	7,711,111	$166M	trimmed−57%	−0.38 pp	12 q
9991429DAptiv Irish Holdings Ltd	0.40%	2,085,717	$163M	trimmed−0%	+0.12 pp	11 q
NVSTEnvista Holdings Corporation, $0.01 par value per share	0.39%	7,537,829	$159M	trimmed−8%	+0.05 pp	2 q
THOThor Industries, Inc.	0.38%	1,459,642	$155M	added+23%	+0.24 pp	9 q
LIVNLivaNova PLC	0.38%	3,286,338	$158M	added+10%	+0.01 pp	11 q
AAPLApple Inc.	0.36%	401,135	$146M	trimmed−55%	−0.27 pp	29 q
GDGeneral Dynamics Corporation	0.33%	905,869	$135M	new	+0.33 pp	new
ADPAutomatic Data Processing	0.32%	893,638	$133M	trimmed−0%	−0.02 pp	29 q
GLPIGaming and Leisure Properties, Inc.	0.32%	3,818,666	$132M	trimmed−1%	+0.02 pp	27 q
HALHalliburton Company	0.31%	9,712,785	$126M	trimmed−9%	+0.11 pp	7 q
CSLCarlisle Companies, Inc.	0.30%	1,024,561	$123M	trimmed−1%	−0.06 pp	10 q
HHCThe Howard Hughes Corporation	0.30%	2,377,656	$124M	added+15%	+0.01 pp	29 q
INTCIntel Corp	0.30%	2,060,827	$123M	trimmed−56%	−0.40 pp	29 q
DEODiageo plc	0.29%	897,935	$121M	trimmed−0%	−0.03 pp	29 q
THCTenet Healthcare Corporation New	0.29%	6,592,241	$119M	added+3%	+0.04 pp	29 q
NOVNOV Inc.	0.28%	9,303,736	$114M	added+5%	+0.04 pp	29 q
TMUST-Mobile US, Inc.	0.28%	1,106,894	$115M	new	+0.28 pp	new
POSTPost Holdings, Inc.	0.25%	1,195,188	$105M	trimmed−3%	−0.03 pp	8 q
FANGDiamondback Energy, Inc.	0.24%	2,382,704	$100M	trimmed−5%	+0.06 pp	5 q
TXNTexas Instruments Incorporated	0.24%	770,298	$98M	trimmed−63%	−0.34 pp	29 q
CXOConcho Resources Inc.	0.21%	1,661,536	$86M	trimmed−54%	−0.22 pp	5 q
WOOFoot Locker Inc	0.21%	2,902,470	$85M	trimmed−19%	−0.01 pp	29 q
CRICarter's Inc.	0.20%	1,013,871	$82M	added+1%	+0.02 pp	29 q
BLQADBlackrock Inc	0.19%	142,926	$78M	trimmed−3%	+0.01 pp	29 q
LYVLive Nation Entertainment Inc.	0.19%	1,779,916	$79M	trimmed−8%	−0.05 pp	29 q
BABAAlibaba Group Holding Limited	0.17%	316,080	$68M	added+56%	+0.06 pp	2 q
MANManpowerGroup	0.16%	939,288	$65M	added×81.2	+0.16 pp	6 q
TRNTrinity Industries, Inc.	0.16%	3,055,151	$65M	trimmed−7%	+0.01 pp	13 q
ARNCArconic Corporation	0.15%	4,447,682	$62M	new	+0.15 pp	new
ZBHZimmer Biomet Holdings, Inc.	0.12%	400,098	$48M	added+39%	+0.04 pp	10 q
HRIHerc Holdings Inc.	0.11%	1,494,089	$46M	added+16%	+0.04 pp	17 q
BBBlackBerry Limited	0.09%	7,195,700	$35M	added+7%	+0.01 pp	3 q
MASMasco Corporation	0.09%	710,175	$36M	trimmed−4%	+0.02 pp	7 q
ALVAutoliv, Inc.	0.08%	529,255	$34M	trimmed−14%	0.00 pp	6 q
CHXChampionX Corporation	0.07%	2,996,054	$29M	added+19%	+0.03 pp	9 q
VLRSControladora Vuela Compania De Aviacion, S.a.b. De C.v.	0.07%	5,149,088	$27M	added+7%	+0.02 pp	12 q
GILGildan Activewear Inc.	0.07%	1,798,900	$28M	added+75%	+0.03 pp	3 q
NDAQNasdaq, Inc.	0.07%	239,070	$29M	trimmed−3%	+0.01 pp	5 q
ACAArcosa, Inc.	0.06%	598,951	$25M	trimmed−0%	−0.01 pp	7 q
DISThe Walt Disney Company	0.05%	201,404	$22M	new	+0.05 pp	new
EFXEquifax, Incorporated	0.05%	125,883	$22M	trimmed−5%	+0.01 pp	9 q
PDCEPDC Energy, Inc.	0.04%	1,397,768	$17M	trimmed−58%	−0.02 pp	12 q
AONAon plc Class A	0.04%	82,969	$16M	new	+0.04 pp	new
DOVDover Corporation	0.03%	109,136	$11M	trimmed−0%	0.00 pp	29 q
FDXFedEx Corporation	0.03%	92,085	$13M	trimmed−88%	−0.22 pp	29 q
FLSFlowserve Corporation	0.03%	424,125	$12M	new	+0.03 pp	new
HUBSHubspot, Inc.	0.03%	56,097	$13M	added×12.7	+0.03 pp	2 q
QRVOQorvo, Inc.	0.03%	121,024	$13M	trimmed−7%	0.00 pp	11 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.03%	239,830	$14M	trimmed−9%	0.00 pp	8 q
unresolvedFiat Chrysler Automobiles NV s	0.03%	1,307,244	$13M	trimmed−95%	−0.47 pp	21 q
CDKCDK Global, Inc.	0.02%	242,273	$10M	trimmed−5%	0.00 pp	4 q
WABWabtec Inc.	0.02%	107,158	$6M	trimmed−21%	0.00 pp	6 q
BAXBaxter International Inc.	0.01%	35,300	$3M	trimmed−67%	−0.01 pp	18 q
CHRWC.H. Robinson Worldwide, Inc.	0.01%	77,000	$6M	trimmed−61%	−0.03 pp	17 q
SEESealed Air Corp New	0.01%	144,038	$5M	new	+0.01 pp	new
BCBrunswick Corporation	0.00%	10,450	$669,000	held	—	11 q
EEFTEuronet Worldwide Inc	0.00%	12,150	$1M	new	0.00 pp	new
FBINFortune Brands Innovations, Inc.	0.00%	9,970	$637,000	held	—	8 q
ITWIllinois Tool Works Inc.	0.00%	3,100	$542,000	held	—	29 q
JPMJPMorgan Chase & Co.	0.00%	21,137	$2M	held	—	29 q
LBRDALiberty Broadband Corporation Class A	0.00%	15,000	$2M	held	—	3 q
MSFTMicrosoft Corp	0.00%	2,360	$480,000	trimmed−6%	0.00 pp	29 q
CRMSalesforce, Inc.	0.00%	3,200	$599,000	held	—	4 q
AMTTd Ameritrade Holding Corp	0.00%	19,770	$719,000	trimmed−99%	−0.13 pp	7 q
WEXWEX Inc.	0.00%	5,400	$891,000	new	0.00 pp	new
PRGOPerrigo Company PLC	0.00%	8,000	$442,000	new	0.00 pp	new
DLPHBorgwarner Jersey Ltd	—	−3,540,187	—	exited	−0.08 pp	—
ADTADT Inc.	—	−3,862,525	—	exited	−0.05 pp	—
UAUnder Armour, Inc. Class C, $0.0003 1/3 par value	—	−267,175	—	exited	−0.01 pp	—
CDEVPermian Resources Corporation	—	−2,491,460	—	exited	0.00 pp	—
ETRAE*trade Financial Corp	—	−25,825	—	exited	0.00 pp	—
SLCAU.s. Silica Holdings, Inc.	—	−380,600	—	exited	0.00 pp	—
AXTAAxalta Coating Systems Ltd.	—	−20,655	—	exited	0.00 pp	—