Oakmark's Bill Nygren likes these value stocks as the vaccines spark a return to normal

Pedestrians walk past a branch of a Capital One bank, in Los Angeles. California on July 30, 2019.
Frederic J. Brown | AFP | Getty Images

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Longtime value investor Bill Nygren has a handful of stock picks that he believes should get a boost if the Covid-19 vaccine is successfully distributed throughout the country.

The U.S. has begun to ship vaccine doses from a Pfizer facility in Michigan to hundreds of distribution centers across the country, giving investors hope about a swift economic rebound.

"One of the things being a value investor means is you predict that things get back to normal faster than most people," said Nygren told CNBC's "Squawk on the Street" on Monday. "Most of our holdings today benefit from things getting back to normal like they were in 2019. I think once most of the population has had an opportunity to be vaccinated we'll see a very rapid return to what we used to think of as normal."

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