He also said investors should look beyond next week or next month but look at "five years from now. Investors chase past performance rather than look at current valuation. Most of the stocks that we own today sell at barely a double-digit [price/earnings ratios] on expected 2012 earnings” and have ”significant share repurchase plans in place. Most of them are paying reasonable dividends."
The fund's biggest holdings are shares of Comcast, majority owner of CNBC. It also owns shares of Intel , Mastercard , Dell, JPMorgan Chase and Capital One , among others.
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Oakmark owns shares of the companies mentioned. Information on Nygren's holdings was not available.