Harris Associates (Oakmark)

Q4 2023 13F · by Bill Nygren, CIO

As of: Dec 31, 2023
Filed: Feb 14, 2024
US stock: $58.0B · prev $51.3B
Positions: 143 · prev 133
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%

Moves137 since the prior filing

+7.3 pp in · −7.3 pp out

New 14 +0.90 pp
Added 46 +6.44 pp
Trimmed 72 −6.80 pp
Exited 4 −0.49 pp

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

The book

Diversified · behaves like 47 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 31% a year, about 3.2 years per position

Low
Moderate
High

Top 5 positions20% of US stock

Positions143 in this filing · 4 exited


GOOGLAlphabet Inc. Class A	4.99%	20,711,170	$2.9B	trimmed−12%	−1.00 pp	33 q
COFCapital One Financial	4.28%	18,943,687	$2.5B	trimmed−2%	+0.61 pp	43 q
IQVIQVIA Holdings Inc.	3.89%	9,747,869	$2.3B	added+23%	+0.86 pp	3 q
ICEIntercontinental Exchange Inc.	3.53%	15,948,042	$2.0B	added+3%	+0.20 pp	11 q
CHTRCharter Comm Inc Del CL A New	3.46%	5,172,968	$2.0B	trimmed−1%	−1.02 pp	31 q
FISVFiserv, Inc.	3.44%	15,044,885	$2.0B	added0%	+0.14 pp	13 q
CNHCnh Industrial N.v.	3.37%	160,517,694	$2.0B	added+30%	+0.44 pp	13 q
BACBank of America Corporation	3.16%	54,489,187	$1.8B	added+4%	+0.36 pp	43 q
KKRKKR & Co. Inc.	2.96%	20,747,921	$1.7B	trimmed−23%	−0.27 pp	13 q
AIGAmerican International Group, Inc.	2.66%	22,803,977	$1.5B	trimmed−0%	−0.04 pp	43 q
CBRECbre Group, Inc.	2.57%	16,005,141	$1.5B	added+4%	+0.36 pp	40 q
COPConocoPhillips	2.53%	12,650,943	$1.5B	trimmed−6%	−0.62 pp	12 q
SCHWThe Charles Schwab Corporation	2.26%	19,075,806	$1.3B	added+2%	+0.26 pp	22 q
GMGeneral Motors Company	2.21%	35,754,116	$1.3B	added+1%	−0.07 pp	43 q
AMZNAmazon.Com Inc	2.07%	7,912,456	$1.2B	trimmed−25%	−0.54 pp	9 q
WFCWells Fargo & Co.	1.97%	23,171,181	$1.1B	trimmed−3%	+0.07 pp	43 q
CRMSalesforce, Inc.	1.78%	3,927,406	$1.0B	trimmed−16%	−0.08 pp	12 q
KRThe Kroger Co.	1.76%	22,351,348	$1.0B	added+30%	+0.26 pp	4 q
WTWWillis Towers Watson Public Limited Company	1.70%	4,079,278	$984M	trimmed−3%	−0.01 pp	12 q
AXPAmerican Express Company	1.62%	5,008,226	$938M	added+71%	+0.77 pp	16 q
PSXPhillips 66	1.58%	6,904,249	$919M	added×3.6	+1.13 pp	2 q
WBDWarner Bros. Discovery, Inc. Series A	1.56%	79,504,509	$905M	added+23%	+0.19 pp	6 q
EOGEOG Resources, Inc.	1.52%	7,284,557	$881M	trimmed−8%	−0.44 pp	19 q
CMCSAComcast Corp	1.43%	18,873,787	$828M	added+11%	−0.04 pp	43 q
ALLYAlly Financial Inc.	1.41%	23,475,676	$820M	trimmed−10%	+0.05 pp	33 q
CNCCentene Corporation	1.39%	10,863,367	$806M	added×2.7	+0.86 pp	2 q
FCNCAFirst Citizens BancShares Inc	1.22%	500,868	$711M	added+1%	−0.11 pp	12 q
RYAAYRyanair Holdings plc	1.19%	5,159,792	$688M	trimmed−29%	−0.18 pp	24 q
DHRDanaher Corporation	1.18%	2,967,928	$687M	added0%	−0.25 pp	3 q
LADLithia Motors, Inc.	1.15%	2,024,707	$667M	added+23%	+0.20 pp	8 q
MASMasco Corporation	1.13%	9,769,194	$654M	added+1%	+0.13 pp	7 q
0VQJLTe Connectivity Ltd	1.13%	4,663,085	$655M	trimmed−5%	−0.06 pp	43 q
BLQADBlackrock Inc	1.11%	791,498	$643M	added+40%	+0.40 pp	43 q
HCAHCA Healthcare, Inc.	1.03%	2,218,381	$600M	added+12%	+0.08 pp	32 q
ORCLOracle Corp	1.01%	5,578,179	$588M	trimmed−33%	−0.72 pp	43 q
APAAPA Corporation	0.97%	15,705,693	$564M	added+18%	−0.10 pp	12 q
IPGThe Interpublic Group of Companies, Inc.	0.97%	17,252,532	$563M	added+4%	+0.04 pp	39 q
CSCOCisco Systems, Inc. (DE)	0.95%	10,953,280	$553M	added0%	−0.20 pp	2 q
CCitigroup Inc.	0.94%	10,590,374	$545M	trimmed−5%	+0.05 pp	40 q
LBRDKLiberty Broadband Corporation Class C	0.86%	6,162,870	$497M	trimmed−8%	−0.34 pp	33 q
STTState Street Corporation	0.86%	6,445,121	$499M	trimmed−2%	0.00 pp	43 q
OTEXOpen Text Corp	0.81%	11,141,307	$468M	trimmed−3%	+0.02 pp	18 q
BNYBank of New York Mellon Corporation	0.79%	8,777,364	$457M	added+5%	+0.09 pp	43 q
GSGoldman Sachs Group Inc.	0.78%	1,178,672	$455M	trimmed−9%	−0.04 pp	43 q
CTVACorteva, Inc.	0.74%	9,011,702	$432M	added+87%	+0.26 pp	2 q
MOAltria Group, Inc.	0.70%	10,140,660	$409M	added+5%	−0.09 pp	12 q
HLTHilton Worldwide Holdings Inc.	0.70%	2,239,132	$408M	trimmed−23%	−0.15 pp	24 q
BWABorgWarner Inc.	0.68%	10,962,891	$393M	added+9%	−0.11 pp	43 q
TFCTruist Financial Corporation	0.66%	10,339,874	$382M	trimmed−4%	+0.06 pp	4 q
FBINFortune Brands Innovations, Inc.	0.64%	4,871,805	$371M	added+2%	+0.06 pp	6 q
BAXBaxter International Inc.	0.62%	9,254,946	$358M	added+21%	+0.05 pp	32 q
MGAMagna International	0.61%	5,982,950	$353M	added+14%	+0.06 pp	5 q
CRBGCorebridge Financial, Inc.	0.60%	16,113,131	$349M	added+6%	+0.01 pp	4 q
GPNGlobal Payments, Inc.	0.58%	2,670,694	$339M	trimmed−4%	−0.05 pp	9 q
CVSCvs Health Corporation	0.57%	4,160,652	$329M	added+6%	+0.04 pp	43 q
AAgilent Technologies Inc.	0.56%	2,342,383	$326M	new	+0.56 pp	new
RGAReinsurance Group of America, Incorporated	0.56%	1,994,098	$323M	trimmed−3%	−0.02 pp	16 q
MCOMoody's Corporation	0.55%	814,344	$318M	trimmed−8%	0.00 pp	28 q
THOThor Industries, Inc.	0.55%	2,683,623	$317M	added+3%	+0.06 pp	23 q
METAMeta Platforms, Inc. Class A	0.54%	880,658	$312M	trimmed−3%	+0.01 pp	24 q
CECelanese Corporation	0.51%	1,911,872	$297M	added+2%	+0.05 pp	3 q
LBTYALiberty Global Ltd. Class A	0.47%	15,342,486	$273M	trimmed−25%	−0.21 pp	26 q
EFXEquifax, Incorporated	0.46%	1,074,240	$266M	trimmed−3%	+0.07 pp	23 q
NVSTEnvista Holdings Corporation, $0.01 par value per share	0.45%	10,852,053	$261M	added+20%	−0.04 pp	16 q
GOOGAlphabet Inc. Class C	0.44%	1,816,017	$256M	trimmed−7%	−0.06 pp	39 q
VVISA Inc.	0.42%	925,708	$241M	trimmed−4%	−0.01 pp	43 q
DISThe Walt Disney Company	0.37%	2,370,130	$214M	added+15%	+0.04 pp	15 q
EBAYeBay Inc	0.34%	4,577,264	$200M	added+1%	−0.05 pp	21 q
PAYCPaycom Software, Inc.	0.34%	946,331	$196M	new	+0.34 pp	new
SEESealed Air Corp New	0.31%	4,951,041	$181M	trimmed−18%	−0.08 pp	15 q
HHHHoward Hughes Holdings Inc.	0.30%	2,031,583	$174M	trimmed−4%	0.00 pp	2 q
BCBrunswick Corporation	0.25%	1,497,931	$145M	added+38%	+0.08 pp	2 q
CRICarter's Inc.	0.23%	1,749,547	$131M	trimmed−1%	−0.01 pp	43 q
CSLCarlisle Companies, Inc.	0.21%	394,007	$123M	trimmed−59%	−0.28 pp	24 q
LEALear Corporation	0.20%	818,104	$116M	trimmed−2%	−0.02 pp	43 q
WMGWarner Music Group Corp. Class A	0.18%	2,964,710	$106M	trimmed−0%	0.00 pp	10 q
WENThe Wendy's Company	0.17%	4,942,216	$96M	trimmed−36%	−0.14 pp	9 q
WDAYWorkday, Inc. Class A	0.14%	297,419	$82M	trimmed−30%	−0.04 pp	17 q
OPLNOPENLANE, Inc	0.11%	4,132,446	$61M	trimmed−1%	−0.01 pp	10 q
MAMastercard Incorporated	0.11%	145,161	$62M	trimmed−2%	0.00 pp	43 q
PHINPHINIA Inc.	0.10%	2,004,545	$61M	added0%	0.00 pp	2 q
ABMABM Industries, Inc.	0.07%	953,880	$43M	trimmed−1%	−0.01 pp	7 q
ACVAACV Auctions Inc.	0.06%	2,218,851	$34M	trimmed−1%	−0.01 pp	9 q
NFLXNetFlix Inc	0.06%	67,864	$33M	trimmed−28%	−0.01 pp	26 q
ALSNAllison Transmission Holdings, Inc.	0.05%	460,730	$27M	trimmed−1%	0.00 pp	12 q
AAPLApple Inc.	0.05%	138,570	$27M	trimmed−7%	0.00 pp	43 q
ALVAutoliv, Inc.	0.05%	284,380	$31M	trimmed−13%	−0.01 pp	20 q
BRK.BBERKSHIRE HATHAWAY Class B	0.05%	74,428	$27M	trimmed−7%	0.00 pp	17 q
CIGIColliers International Group Inc. Subordinate Voting Shares	0.05%	212,440	$27M	trimmed−5%	+0.01 pp	4 q
GRFSGrifois, S.A.	0.05%	2,756,200	$32M	trimmed−0%	0.00 pp	8 q
91990EURCushman & Wakefield UK Holdc	0.05%	2,791,798	$30M	added0%	+0.01 pp	11 q
GILGildan Activewear Inc.	0.04%	702,600	$23M	trimmed−36%	−0.02 pp	17 q
MANManpowerGroup	0.03%	212,966	$17M	trimmed−9%	0.00 pp	20 q
PHParker-Hannifin Corporation	0.03%	43,865	$20M	trimmed−96%	−0.80 pp	8 q
JCIJohnson Controls International plc	0.03%	345,248	$20M	added+2%	−0.01 pp	25 q
BKNGBooking Holdings Inc.	0.02%	3,348	$12M	trimmed−72%	−0.05 pp	24 q
CCKCrown Holdings Inc.	0.02%	103,980	$10M	held	—	4 q
SPYState Street SPDR S&P 500 ETF Trust	0.02%	18,917	$9M	added×18.6	+0.02 pp	7 q
TXNTexas Instruments Incorporated	0.02%	67,733	$12M	trimmed−0%	0.00 pp	43 q
FERGFerguson Enterprises Inc.	0.02%	59,985	$12M	trimmed−41%	−0.01 pp	2 q
SPNNSapiens International Corp	0.02%	449,200	$13M	added+10%	0.00 pp	3 q
DOVDover Corporation	0.01%	24,967	$4M	trimmed−5%	0.00 pp	43 q
LBRDALiberty Broadband Corporation Class A	0.01%	40,475	$3M	trimmed−1%	0.00 pp	17 q
MBCMasterBrand, Inc.	0.01%	216,327	$3M	trimmed−3%	0.00 pp	5 q
PINSPinterest, Inc. Class A	0.01%	102,803	$4M	trimmed−98%	−0.33 pp	17 q
MTNVail Resorts, Inc.	0.01%	18,180	$4M	added+36%	0.00 pp	4 q
ABBVAbbvie Inc.	0.00%	2,800	$433,916	trimmed−14%	0.00 pp	3 q
ADPAutomatic Data Processing	0.00%	10,399	$2M	added+26%	0.00 pp	43 q
BRK.ABerkshire Hathaway Inc.	0.00%	1	$542,625	held	—	4 q
CATCaterpillar Inc.	0.00%	1,800	$532,206	held	—	41 q
CHXChampionX Corporation	0.00%	20,700	$604,647	held	—	23 q
CVXChevron Corporation	0.00%	5,616	$837,683	held	—	5 q
CFGCitizens Financial Group, Inc.	0.00%	30,870	$1M	trimmed−4%	0.00 pp	3 q
CMICummins Inc.	0.00%	3,797	$909,647	held	—	43 q
DEODiageo plc	0.00%	18,628	$3M	trimmed−2%	−0.01 pp	43 q
FITBFifth Third Bancorp	0.00%	21,565	$743,777	trimmed−4%	0.00 pp	3 q
FLSFlowserve Corporation	0.00%	30,231	$1M	trimmed−95%	−0.05 pp	15 q
GLPIGaming and Leisure Properties, Inc.	0.00%	20,517	$1M	held	—	41 q
ITGartner, Inc.	0.00%	2,715	$1M	trimmed−33%	0.00 pp	23 q
HRIHerc Holdings Inc.	0.00%	10,590	$2M	held	—	31 q
HWMHowmet Aerospace Inc.	0.00%	7,500	$405,900	held	—	28 q
EFAiShares MSCI EAFE ETF	0.00%	669	$50,409	new	0.00 pp	new
IBDQiShares iBonds Dec 2025 Term Corporate ETF	0.00%	20,114	$498,023	new	0.00 pp	new
IBDPiShares iBonds Dec 2024 Term Corporate ETF	0.00%	10,208	$254,281	new	0.00 pp	new
IBDRiShares iBonds Dec 2026 Term Corporate ETF	0.00%	31,655	$756,555	new	0.00 pp	new
IBDSiShares iBonds Dec 2027 Term Corporate ETF	0.00%	15,825	$378,692	new	0.00 pp	new
JPMJPMorgan Chase & Co.	0.00%	5,175	$880,268	held	—	43 q
MSFTMicrosoft Corp	0.00%	2,105	$791,564	added+15%	0.00 pp	43 q
NDAQNasdaq, Inc.	0.00%	20,915	$1M	trimmed−17%	0.00 pp	19 q
PMPhilip Morris International Inc.	0.00%	6,797	$639,462	trimmed−16%	0.00 pp	43 q
REYNReynolds Consumer Products Inc.	0.00%	13,000	$348,920	trimmed−12%	0.00 pp	11 q
SPGIS&P Global Inc.	0.00%	3,150	$1M	trimmed−31%	0.00 pp	20 q
TMUST-Mobile US, Inc.	0.00%	3,200	$513,056	trimmed−58%	0.00 pp	15 q
THCTenet Healthcare Corporation New	0.00%	3,900	$294,723	held	—	43 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.00%	1,330	$700,205	trimmed−16%	0.00 pp	43 q
VWOVanguard FTSE Emerging Markets ETF	0.00%	4,788	$196,787	new	0.00 pp	new
VPLVanguard FTSE Pacific ETF	0.00%	3,589	$258,516	new	0.00 pp	new
VGKVanguard FTSE Europe ETF	0.00%	4,128	$266,173	new	0.00 pp	new
VOVanguard Morningstar Mid-Cap ETF	0.00%	1,079	$251,019	new	0.00 pp	new
VUGVanguard Morningstar Growth ETF	0.00%	1,068	$332,020	new	0.00 pp	new
VTVVanguard Morningstar Value ETF	0.00%	2,945	$440,278	new	0.00 pp	new
VBVanguard Morningstar Small-Cap ETF	0.00%	1,174	$250,449	new	0.00 pp	new
CPRICapri Holdings Limited	0.00%	6,500	$326,560	trimmed−46%	0.00 pp	3 q
PHMPultegroup, Inc.	—	−1,954,842	—	exited	−0.28 pp	—
VIPSVipshop Holdings Limited	—	−5,749,901	—	exited	−0.18 pp	—
NOVNOV Inc.	—	−838,300	—	exited	−0.03 pp	—
KDPKeurig Dr Pepper Inc.	—	−9,140	—	exited	0.00 pp	—