Harris Associates (Oakmark)

Q3 2023 13F · by Bill Nygren, CIO

As of: Sep 30, 2023
Filed: Nov 14, 2023
US stock: $51.3B · prev $53.1B
Positions: 133 · prev 142
Options notional: $109M
Documents: 1· no amendments

Picture99.8% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 99.8%
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 0.2%

Moves145 since the prior filing

+8.9 pp in · −8.9 pp out

New 8 +3.21 pp
Added 38 +5.68 pp
Trimmed 81 −7.95 pp
Exited 17 −0.97 pp

Options: 1 move on a notional base, in the table below.

The book

Diversified · behaves like 46 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 41% a year, about 2.5 years per position

Low
Moderate
High

Top 5 positions21% of US stock

Positions133 in this filing · 17 exited


GOOGLAlphabet Inc. Class A	5.99%	23,486,473	$3.1B	trimmed−13%	−0.06 pp	32 q
CHTRCharter Comm Inc Del CL A New	4.48%	5,229,301	$2.3B	trimmed−3%	+0.76 pp	30 q
COFCapital One Financial	3.67%	19,408,674	$1.9B	added+2%	−0.26 pp	42 q
ICEIntercontinental Exchange Inc.	3.33%	15,523,299	$1.7B	added+7%	+0.23 pp	10 q
FISVFiserv, Inc.	3.30%	14,988,944	$1.7B	trimmed−3%	−0.38 pp	12 q
KKRKKR & Co. Inc.	3.23%	26,910,677	$1.7B	trimmed−8%	+0.16 pp	12 q
COPConocoPhillips	3.15%	13,505,059	$1.6B	trimmed−10%	+0.23 pp	11 q
IQVIQVIA Holdings Inc.	3.03%	7,903,004	$1.6B	added×4.9	+2.35 pp	2 q
CNHCnh Industrial N.v.	2.93%	123,079,130	$1.5B	added+9%	−0.13 pp	12 q
BACBank of America Corporation	2.80%	52,402,017	$1.4B	trimmed−2%	−0.09 pp	42 q
AIGAmerican International Group, Inc.	2.70%	22,873,663	$1.4B	added+1%	+0.26 pp	42 q
AMZNAmazon.Com Inc	2.61%	10,532,134	$1.3B	trimmed−33%	−1.22 pp	8 q
GMGeneral Motors Company	2.28%	35,510,342	$1.2B	trimmed−8%	−0.52 pp	42 q
CBRECbre Group, Inc.	2.21%	15,321,916	$1.1B	added+4%	−0.03 pp	39 q
SCHWThe Charles Schwab Corporation	2.00%	18,699,172	$1.0B	trimmed−1%	−0.01 pp	21 q
EOGEOG Resources, Inc.	1.96%	7,909,437	$1.0B	trimmed−8%	+0.10 pp	18 q
WFCWells Fargo & Co.	1.90%	23,897,768	$976M	trimmed−1%	−0.03 pp	42 q
CRMSalesforce, Inc.	1.86%	4,694,685	$952M	trimmed−7%	−0.15 pp	11 q
ORCLOracle Corp	1.73%	8,378,032	$887M	trimmed−31%	−0.98 pp	42 q
WTWWillis Towers Watson Public Limited Company	1.71%	4,207,299	$879M	added+19%	+0.14 pp	11 q
KRThe Kroger Co.	1.50%	17,178,832	$769M	added+73%	+0.62 pp	3 q
CMCSAComcast Corp	1.47%	17,019,116	$755M	trimmed−2%	+0.11 pp	42 q
DHRDanaher Corporation	1.43%	2,963,899	$735M	added+28%	+0.38 pp	2 q
RYAAYRyanair Holdings plc	1.37%	7,246,472	$704M	trimmed−3%	−0.18 pp	23 q
WBDWarner Bros. Discovery, Inc. Series A	1.37%	64,479,228	$700M	added0%	−0.15 pp	5 q
ALLYAlly Financial Inc.	1.36%	26,157,051	$698M	added0%	+0.04 pp	32 q
FCNCAFirst Citizens BancShares Inc	1.33%	494,026	$682M	trimmed−5%	+0.08 pp	11 q
LBRDKLiberty Broadband Corporation Class C	1.20%	6,725,955	$614M	added+4%	+0.22 pp	32 q
0VQJLTe Connectivity Ltd	1.19%	4,930,961	$609M	trimmed−20%	−0.44 pp	42 q
CSCOCisco Systems, Inc. (DE)	1.15%	10,945,290	$588M	new	+1.15 pp	new
APAAPA Corporation	1.07%	13,338,123	$548M	trimmed−0%	+0.21 pp	11 q
MASMasco Corporation	1.00%	9,628,860	$515M	trimmed−1%	−0.05 pp	6 q
HCAHCA Healthcare, Inc.	0.95%	1,984,345	$488M	trimmed−34%	−0.77 pp	31 q
LADLithia Motors, Inc.	0.95%	1,647,451	$487M	trimmed−0%	+0.01 pp	7 q
IPGThe Interpublic Group of Companies, Inc.	0.93%	16,660,094	$477M	added+25%	−0.04 pp	38 q
CCitigroup Inc.	0.89%	11,150,481	$459M	added+3%	−0.05 pp	39 q
STTState Street Corporation	0.86%	6,558,292	$439M	trimmed−4%	−0.08 pp	42 q
AXPAmerican Express Company	0.85%	2,923,742	$436M	added+56%	+0.24 pp	15 q
HLTHilton Worldwide Holdings Inc.	0.85%	2,917,054	$438M	trimmed−1%	+0.04 pp	23 q
PHParker-Hannifin Corporation	0.83%	1,091,239	$425M	trimmed−52%	−0.83 pp	7 q
GSGoldman Sachs Group Inc.	0.82%	1,298,799	$420M	added0%	+0.04 pp	42 q
MOAltria Group, Inc.	0.79%	9,619,982	$405M	added+34%	+0.18 pp	11 q
BWABorgWarner Inc.	0.79%	10,062,663	$406M	trimmed−1%	−0.14 pp	42 q
OTEXOpen Text Corp	0.79%	11,515,807	$404M	added+2%	−0.10 pp	17 q
BLQADBlackrock Inc	0.71%	563,639	$364M	trimmed−3%	−0.05 pp	42 q
BNYBank of New York Mellon Corporation	0.70%	8,369,620	$357M	added+18%	+0.11 pp	42 q
LBTYALiberty Global Ltd. Class A	0.68%	20,426,739	$350M	trimmed−1%	+0.02 pp	25 q
GPNGlobal Payments, Inc.	0.63%	2,790,484	$322M	added+22%	+0.21 pp	8 q
TFCTruist Financial Corporation	0.60%	10,714,495	$307M	added+3%	+0.01 pp	3 q
CRBGCorebridge Financial, Inc.	0.59%	15,234,999	$301M	added+10%	+0.13 pp	3 q
FBINFortune Brands Innovations, Inc.	0.58%	4,778,283	$297M	trimmed−2%	−0.08 pp	5 q
RGAReinsurance Group of America, Incorporated	0.58%	2,056,262	$299M	trimmed−1%	+0.04 pp	15 q
BAXBaxter International Inc.	0.57%	7,680,385	$290M	added×3.2	+0.36 pp	31 q
MGAMagna International	0.55%	5,265,285	$282M	added+57%	+0.19 pp	4 q
MCOMoody's Corporation	0.55%	886,957	$280M	trimmed−21%	−0.19 pp	27 q
CVSCvs Health Corporation	0.53%	3,919,295	$274M	added×3.9	+0.40 pp	42 q
CNCCentene Corporation	0.53%	3,981,917	$274M	new	+0.53 pp	new
METAMeta Platforms, Inc. Class A	0.53%	908,358	$273M	trimmed−38%	−0.26 pp	23 q
GOOGAlphabet Inc. Class C	0.50%	1,961,187	$259M	trimmed−8%	+0.01 pp	38 q
CSLCarlisle Companies, Inc.	0.49%	970,552	$252M	trimmed−13%	−0.05 pp	23 q
NVSTEnvista Holdings Corporation, $0.01 par value per share	0.49%	9,011,019	$251M	added+45%	+0.09 pp	15 q
THOThor Industries, Inc.	0.49%	2,615,529	$249M	trimmed−13%	−0.10 pp	22 q
CTVACorteva, Inc.	0.48%	4,816,721	$246M	new	+0.48 pp	new
CECelanese Corporation	0.46%	1,874,465	$235M	added+4%	+0.07 pp	2 q
PSXPhillips 66	0.45%	1,905,478	$229M	new	+0.45 pp	new
VVISA Inc.	0.43%	960,261	$221M	trimmed−31%	−0.19 pp	42 q
EBAYeBay Inc	0.39%	4,546,719	$200M	added+1%	+0.01 pp	20 q
EFXEquifax, Incorporated	0.39%	1,105,799	$203M	trimmed−13%	−0.18 pp	22 q
SEESealed Air Corp New	0.39%	6,072,646	$200M	added+48%	+0.08 pp	14 q
PINSPinterest, Inc. Class A	0.34%	6,512,153	$176M	trimmed−43%	−0.24 pp	16 q
DISThe Walt Disney Company	0.33%	2,057,346	$167M	added+3%	−0.01 pp	14 q
WENThe Wendy's Company	0.31%	7,746,996	$158M	added+38%	+0.08 pp	8 q
HHHHoward Hughes Holdings Inc.	0.30%	2,105,284	$156M	new	+0.30 pp	new
PHMPultegroup, Inc.	0.28%	1,954,842	$145M	trimmed−51%	−0.30 pp	8 q
CRICarter's Inc.	0.24%	1,772,367	$123M	trimmed−2%	−0.01 pp	42 q
LEALear Corporation	0.22%	831,979	$112M	trimmed−40%	−0.15 pp	42 q
VIPSVipshop Holdings Limited	0.18%	5,749,901	$92M	trimmed−34%	−0.09 pp	9 q
WMGWarner Music Group Corp. Class A	0.18%	2,972,440	$93M	trimmed−8%	+0.02 pp	9 q
WDAYWorkday, Inc. Class A	0.18%	425,736	$91M	trimmed−79%	−0.70 pp	16 q
BCBrunswick Corporation	0.17%	1,087,396	$86M	new	+0.17 pp	new
OPLNOPENLANE, Inc	0.12%	4,171,251	$62M	added+1%	0.00 pp	9 q
MAMastercard Incorporated	0.11%	147,636	$58M	trimmed−4%	0.00 pp	42 q
PHINPHINIA Inc.	0.10%	2,002,778	$54M	new	+0.10 pp	new
ABMABM Industries, Inc.	0.08%	966,050	$39M	added+5%	+0.01 pp	6 q
ACVAACV Auctions Inc.	0.07%	2,230,907	$34M	trimmed−0%	0.00 pp	8 q
BKNGBooking Holdings Inc.	0.07%	12,090	$37M	trimmed−88%	−0.45 pp	23 q
NFLXNetFlix Inc	0.07%	93,755	$35M	trimmed−65%	−0.15 pp	25 q
ALVAutoliv, Inc.	0.06%	328,615	$32M	trimmed−19%	0.00 pp	19 q
GILGildan Activewear Inc.	0.06%	1,101,700	$31M	added+3%	−0.01 pp	16 q
ALSNAllison Transmission Holdings, Inc.	0.05%	464,270	$27M	trimmed−10%	0.00 pp	11 q
AAPLApple Inc.	0.05%	148,543	$25M	trimmed−3%	−0.01 pp	42 q
BRK.BBERKSHIRE HATHAWAY Class B	0.05%	79,686	$28M	trimmed−82%	−0.23 pp	16 q
FLSFlowserve Corporation	0.05%	630,778	$25M	trimmed−82%	−0.19 pp	14 q
GRFSGrifois, S.A.	0.05%	2,766,400	$25M	trimmed−0%	0.00 pp	7 q
CIGIColliers International Group Inc. Subordinate Voting Shares	0.04%	223,340	$21M	trimmed−11%	−0.01 pp	3 q
91990EURCushman & Wakefield UK Holdc	0.04%	2,787,017	$21M	trimmed−30%	−0.02 pp	10 q
JCIJohnson Controls International plc	0.04%	338,124	$18M	trimmed−1%	0.00 pp	24 q
MANManpowerGroup	0.03%	233,680	$17M	trimmed−75%	−0.11 pp	19 q
NOVNOV Inc.	0.03%	838,300	$18M	trimmed−6%	0.00 pp	11 q
FERGFerguson Enterprises Inc.	0.03%	101,800	$17M	new	+0.03 pp	new
CCKCrown Holdings Inc.	0.02%	103,980	$9M	held	—	3 q
TXNTexas Instruments Incorporated	0.02%	67,969	$11M	trimmed−14%	−0.01 pp	42 q
SPNNSapiens International Corp	0.02%	409,900	$12M	added+24%	0.00 pp	2 q
DEODiageo plc	0.01%	18,953	$3M	trimmed−3%	0.00 pp	42 q
DOVDover Corporation	0.01%	26,167	$4M	trimmed−19%	0.00 pp	42 q
LBRDALiberty Broadband Corporation Class A	0.01%	40,975	$4M	added+21%	0.00 pp	16 q
MBCMasterBrand, Inc.	0.01%	222,240	$3M	trimmed−7%	0.00 pp	4 q
MTNVail Resorts, Inc.	0.01%	13,340	$3M	added+46%	+0.01 pp	3 q
ABBVAbbvie Inc.	0.00%	3,255	$485,190	held	—	2 q
ADPAutomatic Data Processing	0.00%	8,230	$2M	trimmed−73%	−0.01 pp	42 q
BRK.ABerkshire Hathaway Inc.	0.00%	1	$531,477	held	—	3 q
CATCaterpillar Inc.	0.00%	1,800	$491,400	trimmed−57%	0.00 pp	40 q
CHXChampionX Corporation	0.00%	20,700	$737,334	trimmed−95%	−0.02 pp	22 q
CVXChevron Corporation	0.00%	5,616	$946,970	added×3.0	0.00 pp	4 q
CFGCitizens Financial Group, Inc.	0.00%	32,075	$859,610	trimmed−11%	0.00 pp	2 q
CMICummins Inc.	0.00%	3,797	$867,463	trimmed−54%	0.00 pp	42 q
FITBFifth Third Bancorp	0.00%	22,395	$567,265	trimmed−9%	0.00 pp	2 q
GLPIGaming and Leisure Properties, Inc.	0.00%	20,517	$934,549	trimmed−51%	0.00 pp	40 q
ITGartner, Inc.	0.00%	4,026	$1M	trimmed−7%	0.00 pp	22 q
HRIHerc Holdings Inc.	0.00%	10,590	$1M	trimmed−21%	0.00 pp	30 q
HWMHowmet Aerospace Inc.	0.00%	7,500	$346,875	trimmed−25%	0.00 pp	27 q
JPMJPMorgan Chase & Co.	0.00%	5,175	$750,479	held	—	42 q
KDPKeurig Dr Pepper Inc.	0.00%	9,140	$288,550	trimmed−94%	−0.01 pp	13 q
MSFTMicrosoft Corp	0.00%	1,825	$576,244	trimmed−26%	0.00 pp	42 q
NDAQNasdaq, Inc.	0.00%	25,222	$1M	trimmed−12%	0.00 pp	18 q
PMPhilip Morris International Inc.	0.00%	8,122	$751,935	trimmed−2%	0.00 pp	42 q
REYNReynolds Consumer Products Inc.	0.00%	14,850	$380,606	trimmed−79%	0.00 pp	10 q
SPGIS&P Global Inc.	0.00%	4,595	$2M	trimmed−12%	0.00 pp	19 q
SPYState Street SPDR S&P 500 ETF Trust	0.00%	1,016	$434,320	held	—	6 q
TMUST-Mobile US, Inc.	0.00%	7,540	$1M	trimmed−48%	0.00 pp	14 q
THCTenet Healthcare Corporation New	0.00%	3,900	$256,971	held	—	42 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.00%	1,580	$796,620	trimmed−23%	0.00 pp	42 q
CPRICapri Holdings Limited	0.00%	12,000	$631,320	trimmed−32%	0.00 pp	2 q
HHCThe Howard Hughes Corporation	—	−2,104,276	—	exited	−0.31 pp	—
PCARPaccar Inc	—	−1,583,096	—	exited	−0.25 pp	—
PDCEPDC Energy, Inc.	—	−1,436,693	—	exited	−0.19 pp	—
QSRRestaurant Brands International Inc.	—	−864,439	—	exited	−0.13 pp	—
DLTRDollar Tree Inc.	—	−215,341	—	exited	−0.06 pp	—
ADBEAdobe Inc.	—	−26,805	—	exited	−0.02 pp	—
EEFTEuronet Worldwide Inc	—	−43,216	—	exited	−0.01 pp	—
STZConstellation Brands, Inc.	—	−5,283	—	exited	0.00 pp	—
FANGDiamondback Energy, Inc.	—	−1,672	—	exited	0.00 pp	—
GDGeneral Dynamics Corporation	—	−6,590	—	exited	0.00 pp	—
HUMHumana Inc.	—	−1,245	—	exited	0.00 pp	—
HIIHuntington Ingalls Industries, Inc.	—	−1,239	—	exited	0.00 pp	—
IBMInternational Business Machines Corporation	—	−3,977	—	exited	0.00 pp	—
MCDMcDonald's Corporation	—	−900	—	exited	0.00 pp	—
POSTPost Holdings, Inc.	—	−3,475	—	exited	0.00 pp	—
REGNRegeneron Pharmaceuticals Inc	—	−878	—	exited	0.00 pp	—
TKRThe Timken Company	—	−12,355	—	exited	0.00 pp	—