Oakmark Select's Nygren Dumps USG, US Industries
Soon after Warren Buffett bought into USG, Nygren heads for the door.
Does Bill Nygren know something that Warren Buffett doesn't?
Maybe so. According to documents filed with the Securities and Exchange Commission, Nygren has sold nearly all of Oakmark Select's (OAKLX) shares in building-products firm USG (USG), which has been one of only a handful of weak picks in the fund. Nygren's move comes just a few months after it was revealed that value-investing guru Warren Buffett had taken a significant position in the firm. Oakmark's SEC filing also revealed that Nygren had completely liquidated the fund's position in US Industries (USI), which has been another rare miss for Nygren.
Scott Cooley has a position in the following securities mentioned above: OAKLX. Find out about Morningstar’s editorial policies.
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