Harris Associates (Oakmark)

Q3 2020 13F · by Bill Nygren, CIO

As of: Sep 30, 2020
Filed: Nov 16, 2020
US stock: $41.1B · prev $41.1B
Positions: 132 · prev 132
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

+5.0 pp in · −5.0 pp out

New 4 +1.28 pp
Added 35 +3.68 pp
Trimmed 90 −4.52 pp
Exited 4 −0.46 pp

The book

Diversified · behaves like 50 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 15% a year, about 6.5 years per position

Low
Moderate
High

Top 5 positions20% of US stock

GOOGL Alphabet Inc. Class A trimmed−0.18 pp trimmed−0.185.2%
BAC Bank of America Corporation trimmed−0.09 pp trimmed−0.094.2%
CHTR Charter Comm Inc Del CL A New trimmed+0.36 pp trimmed+0.364.2%
0VQJL Te Connectivity Ltd trimmed+0.26 pp trimmed+0.263.5%
GM General Motors Company trimmed+0.36 pp trimmed+0.363.2%

Positions132 in this filing · 4 exited


GOOGLAlphabet Inc. Class A	5.17%	1,447,993	$2.1B	trimmed−7%	−0.18 pp	20 q
BACBank of America Corporation	4.22%	72,021,592	$1.7B	trimmed−4%	−0.09 pp	30 q
CHTRCharter Comm Inc Del CL A New	4.18%	2,750,406	$1.7B	trimmed−11%	+0.36 pp	18 q
0VQJLTe Connectivity Ltd	3.50%	14,709,702	$1.4B	trimmed−10%	+0.26 pp	30 q
GMGeneral Motors Company	3.22%	44,718,820	$1.3B	trimmed−4%	+0.36 pp	30 q
BKNGBooking Holdings Inc.	3.11%	747,028	$1.3B	trimmed−7%	−0.01 pp	11 q
HCAHCA Healthcare, Inc.	2.80%	9,229,275	$1.2B	added+15%	+0.91 pp	19 q
CCitigroup Inc.	2.73%	25,960,842	$1.1B	trimmed−15%	−1.09 pp	27 q
HLTHilton Worldwide Holdings Inc.	2.63%	12,661,387	$1.1B	trimmed−5%	+0.26 pp	11 q
GOOGAlphabet Inc. Class C	2.53%	708,358	$1.0B	trimmed−2%	+0.04 pp	26 q
MAMastercard Incorporated	2.48%	3,010,894	$1.0B	trimmed−15%	−0.05 pp	30 q
METAMeta Platforms, Inc. Class A	2.35%	3,678,530	$963M	trimmed−8%	+0.13 pp	11 q
NFLXNetFlix Inc	2.13%	1,747,549	$874M	trimmed−14%	−0.12 pp	13 q
AIGAmerican International Group, Inc.	2.10%	31,354,106	$863M	trimmed−7%	−0.46 pp	30 q
STZConstellation Brands, Inc.	2.07%	4,489,363	$851M	trimmed−10%	−0.06 pp	7 q
CMCSAComcast Corp	1.99%	17,698,579	$819M	trimmed−12%	+0.09 pp	30 q
ALLYAlly Financial Inc.	1.94%	31,760,416	$796M	trimmed−5%	+0.34 pp	20 q
RYAAYRyanair Holdings plc	1.85%	9,301,550	$760M	trimmed−27%	−0.20 pp	11 q
LBTYALiberty Global Ltd. Class A	1.83%	35,753,098	$751M	added+8%	+0.08 pp	13 q
CBRECbre Group, Inc.	1.69%	14,769,575	$694M	added+13%	+0.25 pp	27 q
BRK.BBERKSHIRE HATHAWAY Class B	1.50%	2,896,301	$617M	added+5%	+0.30 pp	4 q
WDAYWorkday, Inc. Class A	1.49%	2,843,210	$612M	added+4%	+0.25 pp	4 q
AAgilent Technologies Inc.	1.43%	5,825,454	$588M	trimmed−7%	+0.09 pp	5 q
COFCapital One Financial	1.29%	7,372,050	$530M	trimmed−2%	+0.15 pp	30 q
MCOMoody's Corporation	1.26%	1,787,985	$518M	trimmed−27%	−0.39 pp	15 q
SCHWThe Charles Schwab Corporation	1.25%	14,139,130	$512M	trimmed−6%	+0.01 pp	9 q
KDPKeurig Dr Pepper Inc.	1.19%	17,719,296	$489M	new	+1.19 pp	new
VVISA Inc.	1.19%	2,447,365	$489M	trimmed−4%	0.00 pp	30 q
CVSCvs Health Corporation	1.14%	8,007,633	$468M	trimmed−1%	−0.14 pp	30 q
CATCaterpillar Inc.	1.11%	3,051,200	$455M	trimmed−4%	+0.13 pp	28 q
ORCLOracle Corp	1.01%	6,946,761	$415M	trimmed−2%	+0.05 pp	30 q
ADPAutomatic Data Processing	1.00%	2,942,608	$410M	added×3.3	+0.68 pp	30 q
BIDUBaidu, Inc.	0.98%	3,172,049	$402M	trimmed−17%	−0.14 pp	21 q
LEALear Corporation	0.97%	3,658,379	$399M	trimmed−2%	−0.02 pp	30 q
TVGrupo Televisa S.A.	0.95%	63,260,536	$391M	trimmed−2%	+0.12 pp	20 q
REGNRegeneron Pharmaceuticals Inc	0.91%	666,295	$373M	trimmed−46%	−0.95 pp	11 q
RGAReinsurance Group of America, Incorporated	0.91%	3,931,585	$374M	added+6%	+0.20 pp	3 q
CVECenovus Energy Inc.	0.86%	91,118,307	$354M	added+1%	−0.17 pp	11 q
HUMHumana Inc.	0.85%	845,155	$350M	trimmed−1%	+0.04 pp	5 q
MGMMgm Resorts International	0.79%	14,854,349	$323M	trimmed−0%	+0.18 pp	19 q
STTState Street Corporation	0.78%	5,418,930	$322M	trimmed−3%	−0.08 pp	30 q
PHParker-Hannifin Corporation	0.71%	1,432,970	$290M	trimmed−0%	+0.07 pp	30 q
unresolvedGeneral Electric Co	0.68%	44,914,904	$280M	added+4%	−0.03 pp	30 q
HWMHowmet Aerospace Inc.	0.68%	16,824,509	$281M	trimmed−0%	+0.03 pp	15 q
CMICummins Inc.	0.67%	1,295,729	$274M	trimmed−17%	+0.02 pp	30 q
OTEXOpen Text Corp	0.67%	6,539,715	$276M	trimmed−4%	−0.03 pp	5 q
WFCWells Fargo & Co.	0.67%	11,652,283	$274M	added+11%	+0.01 pp	30 q
GSGoldman Sachs Group Inc.	0.66%	1,343,218	$270M	trimmed−1%	+0.01 pp	30 q
LBRDKLiberty Broadband Corporation Class C	0.66%	1,905,570	$272M	trimmed−3%	+0.07 pp	20 q
PINSPinterest, Inc. Class A	0.66%	6,526,569	$271M	trimmed−61%	−0.23 pp	4 q
BWABorgWarner Inc.	0.62%	6,575,713	$255M	trimmed−10%	−0.01 pp	30 q
JCIJohnson Controls International plc	0.58%	5,812,963	$237M	added+3%	+0.11 pp	12 q
EBAYeBay Inc	0.57%	4,475,869	$233M	trimmed−6%	−0.04 pp	8 q
AXPAmerican Express Company	0.54%	2,223,024	$223M	added+1%	+0.03 pp	3 q
ITGartner, Inc.	0.54%	1,769,907	$221M	added0%	+0.02 pp	10 q
EOGEOG Resources, Inc.	0.52%	5,952,659	$214M	trimmed−29%	−0.52 pp	6 q
PMPhilip Morris International Inc.	0.50%	2,738,255	$205M	trimmed−0%	+0.03 pp	30 q
BNYBank of New York Mellon Corporation	0.49%	5,917,901	$203M	trimmed−4%	−0.09 pp	30 q
NVSTEnvista Holdings Corporation, $0.01 par value per share	0.49%	8,072,283	$199M	added+7%	+0.10 pp	3 q
IPGThe Interpublic Group of Companies, Inc.	0.48%	11,714,233	$195M	added+1%	−0.01 pp	26 q
TCOMTrip.com Group Limited	0.48%	6,382,157	$199M	trimmed−26%	−0.06 pp	4 q
9991429DAptiv Irish Holdings Ltd	0.47%	2,086,607	$191M	added0%	+0.07 pp	12 q
DXCDXC Technology Company	0.46%	10,634,761	$190M	added0%	+0.03 pp	12 q
POSTPost Holdings, Inc.	0.42%	1,983,752	$171M	added+66%	+0.17 pp	9 q
SPGIS&P Global Inc.	0.42%	483,670	$174M	trimmed−37%	−0.19 pp	7 q
LIVNLivaNova PLC	0.42%	3,839,348	$174M	added+17%	+0.04 pp	12 q
THCTenet Healthcare Corporation New	0.40%	6,637,916	$163M	added+1%	+0.11 pp	30 q
TMUST-Mobile US, Inc.	0.37%	1,320,010	$151M	added+19%	+0.09 pp	2 q
CSLCarlisle Companies, Inc.	0.35%	1,174,511	$144M	added+15%	+0.05 pp	11 q
LBTYKLiberty Global Ltd. Class C	0.35%	7,057,116	$145M	trimmed−8%	−0.05 pp	13 q
GDGeneral Dynamics Corporation	0.33%	989,107	$137M	added+9%	0.00 pp	2 q
GLPIGaming and Leisure Properties, Inc.	0.32%	3,602,004	$133M	trimmed−6%	0.00 pp	28 q
THOThor Industries, Inc.	0.32%	1,381,574	$132M	trimmed−5%	−0.06 pp	10 q
AAPLApple Inc.	0.30%	1,069,340	$124M	trimmed−33%	−0.06 pp	30 q
DEODiageo plc	0.30%	889,560	$122M	trimmed−1%	+0.01 pp	30 q
LUVSouthwest Airlines Co.	0.29%	3,123,449	$117M	trimmed−36%	−0.12 pp	13 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.29%	381,236	$119M	trimmed−42%	−0.18 pp	30 q
HHCThe Howard Hughes Corporation	0.28%	2,008,885	$116M	trimmed−16%	−0.02 pp	30 q
HALHalliburton Company	0.27%	9,037,795	$109M	trimmed−7%	−0.04 pp	8 q
NOVNOV Inc.	0.27%	12,209,616	$111M	added+31%	−0.01 pp	30 q
TXNTexas Instruments Incorporated	0.25%	727,110	$104M	trimmed−6%	+0.01 pp	30 q
INTCIntel Corp	0.24%	1,864,160	$97M	trimmed−10%	−0.06 pp	30 q
FLSFlowserve Corporation	0.23%	3,401,745	$93M	added×8.0	+0.20 pp	2 q
LYVLive Nation Entertainment Inc.	0.23%	1,745,716	$94M	trimmed−2%	+0.04 pp	30 q
MANManpowerGroup	0.23%	1,296,244	$95M	added+38%	+0.07 pp	7 q
unresolvedQurate Retail Inc	0.23%	13,333,336	$96M	trimmed−42%	−0.30 pp	10 q
BABAAlibaba Group Holding Limited	0.22%	308,170	$91M	trimmed−3%	+0.05 pp	3 q
9990302DApache Corp	0.20%	8,857,500	$84M	trimmed−49%	−0.38 pp	30 q
ARNCArconic Corporation	0.19%	4,188,079	$80M	trimmed−6%	+0.04 pp	2 q
BLQADBlackrock Inc	0.18%	130,771	$74M	trimmed−9%	−0.01 pp	30 q
CRICarter's Inc.	0.18%	857,986	$74M	trimmed−15%	−0.02 pp	30 q
HRIHerc Holdings Inc.	0.14%	1,473,349	$58M	trimmed−1%	+0.03 pp	18 q
TRNTrinity Industries, Inc.	0.14%	2,850,666	$56M	trimmed−7%	−0.02 pp	14 q
ZBHZimmer Biomet Holdings, Inc.	0.13%	397,598	$54M	trimmed−1%	+0.01 pp	11 q
WOOFoot Locker Inc	0.12%	1,521,070	$50M	trimmed−48%	−0.09 pp	30 q
BBBlackBerry Limited	0.09%	8,075,900	$37M	added+12%	0.00 pp	4 q
ALVAutoliv, Inc.	0.08%	443,255	$32M	trimmed−16%	0.00 pp	7 q
VLRSControladora Vuela Compania De Aviacion, S.a.b. De C.v.	0.08%	4,772,988	$34M	trimmed−7%	+0.01 pp	13 q
GILGildan Activewear Inc.	0.08%	1,734,400	$34M	trimmed−4%	+0.01 pp	4 q
PDCEPDC Energy, Inc.	0.08%	2,585,993	$32M	added+85%	+0.04 pp	13 q
CHXChampionX Corporation	0.07%	3,640,961	$29M	added+22%	0.00 pp	10 q
DISThe Walt Disney Company	0.07%	237,662	$29M	added+18%	+0.02 pp	2 q
NDAQNasdaq, Inc.	0.07%	227,380	$28M	trimmed−5%	0.00 pp	6 q
ACAArcosa, Inc.	0.06%	538,760	$24M	trimmed−10%	0.00 pp	8 q
SEESealed Air Corp New	0.06%	684,300	$27M	added×4.8	+0.05 pp	2 q
FANGDiamondback Energy, Inc.	0.05%	663,569	$20M	trimmed−72%	−0.19 pp	6 q
BGBunge Global SA	0.05%	439,160	$20M	new	+0.05 pp	new
ARMKAramark	0.04%	664,760	$18M	new	+0.04 pp	new
CXOConcho Resources Inc.	0.04%	349,220	$15M	trimmed−79%	−0.17 pp	6 q
EFXEquifax, Incorporated	0.04%	116,843	$18M	trimmed−7%	−0.01 pp	10 q
QRVOQorvo, Inc.	0.04%	111,514	$14M	trimmed−8%	+0.01 pp	12 q
DOVDover Corporation	0.03%	108,836	$12M	trimmed−0%	0.00 pp	30 q
MASMasco Corporation	0.03%	219,345	$12M	trimmed−69%	−0.06 pp	8 q
CDKCDK Global, Inc.	0.02%	227,178	$10M	trimmed−6%	0.00 pp	5 q
EEFTEuronet Worldwide Inc	0.02%	74,585	$7M	added×6.1	+0.02 pp	2 q
WABWabtec Inc.	0.02%	103,611	$6M	trimmed−3%	0.00 pp	7 q
BAXBaxter International Inc.	0.01%	27,850	$2M	trimmed−21%	0.00 pp	19 q
CHRWC.H. Robinson Worldwide, Inc.	0.01%	53,300	$5M	trimmed−31%	0.00 pp	18 q
CLGXCorelogic, Inc.	0.01%	87,972	$6M	trimmed−97%	−0.53 pp	12 q
FDXFedEx Corporation	0.01%	12,130	$3M	trimmed−87%	−0.02 pp	30 q
LBRDALiberty Broadband Corporation Class A	0.01%	14,900	$2M	trimmed−1%	+0.01 pp	4 q
AONAon plc Class A	0.01%	10,660	$2M	trimmed−87%	−0.03 pp	2 q
unresolvedFiat Chrysler Automobiles NV s	0.01%	276,350	$3M	trimmed−79%	−0.02 pp	22 q
BCBrunswick Corporation	0.00%	10,450	$616,000	held	—	12 q
ITWIllinois Tool Works Inc.	0.00%	3,100	$599,000	held	—	30 q
JPMJPMorgan Chase & Co.	0.00%	21,137	$2M	held	—	30 q
MSFTMicrosoft Corp	0.00%	2,150	$452,000	trimmed−9%	0.00 pp	30 q
CRMSalesforce, Inc.	0.00%	800	$201,000	trimmed−75%	0.00 pp	5 q
AMTTd Ameritrade Holding Corp	0.00%	41,995	$2M	added×2.1	0.00 pp	8 q
WEXWEX Inc.	0.00%	7,655	$1M	added+42%	0.00 pp	2 q
PRGOPerrigo Company PLC	0.00%	19,945	$916,000	added×2.5	0.00 pp	2 q
CBChubb Limited	0.00%	15,925	$2M	new	0.00 pp	new
MTCHMatch Group, Inc	—	−1,538,094	—	exited	−0.40 pp	—
HUBSHubspot, Inc.	—	−56,097	—	exited	−0.03 pp	—
TSMTaiwan Semiconductor Manufacturing Company Ltd.	—	−239,830	—	exited	−0.03 pp	—
FBINFortune Brands Innovations, Inc.	—	−9,970	—	exited	0.00 pp	—