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Bill Miller Miller Value Partners

AUM $423M
1-Year Est. Return 49.14%
 

Bill Miller is a legendary value-oriented investor best known for a long streak of beating the S&P 500 while managing Legg Mason Value Trust, and later for Miller Value Partners. His process has always been flexible, incorporating both traditional value and growth-at-a-reasonable-price ideas when fundamentals support them. Miller remains a closely followed voice for contrarian equity ideas.

This Fund
S&P 500
This Quarter Est. Return
-0.05%
1 Year Est. Return
+49.14%
3 Year Est. Return
+132.73%
5 Year Est. Return
+100.12%
10 Year Est. Return
+859.21%
AUM
$2.4B
AUM Growth
+$48.9M
Cap. Flow
+$32M
Cap. Flow %
1.33%
Top 10 Hldgs %
40%
Holding
119
New
7
Increased
33
Reduced
36
Closed
9

Top Buys

Rank Stock Value
1
CELG
Celgene Corp
CELG
+$39.5M
2
TEVA icon
Teva Pharmaceuticals
TEVA
+$32.8M
3
AGN
Allergan plc
AGN
+$18.9M
4
LUMN icon
Lumen
LUMN
+$13.5M
5
ENDP
Endo International plc
ENDP
+$12.8M

Top Sells

Rank Stock Value
1
BHC icon
Bausch Health
BHC
+$24.8M
2
GME icon
GameStop
GME
+$17.4M
3
MTG icon
MGIC Investment
MTG
+$16.2M
4
W icon
Wayfair
W
+$11.6M
5
AMZN icon
Amazon
AMZN
+$6.6M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 24.56%
2 Healthcare 20.81%
3 Financials 15.68%
4 Industrials 11.05%
5 Communication Services 10.8%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
C icon
26
Citigroup
C
$221B
$44.1M 1.84%
653,531
-57,175
-8% -$4.3M
W icon
27
Wayfair
W
$13.9B
$43.9M 1.83%
650,700
-137,800
-17% -$11.6M
MTG icon
28
MGIC Investment
MTG
$6.34B
$37.8M 1.58%
2,908,625
-1,143,100
-28% -$16.2M
TEVA icon
29
Teva Pharmaceuticals
TEVA
$43.5B
$37.5M 1.56%
2,194,972
+1,678,860
+325% +$32.8M
CELG
30
DELISTED
Celgene Corp
CELG
$36.9M 1.54%
414,055
+411,855
+18,721% +$39.5M
P
31
DELISTED
Pandora Media Inc
P
$33.4M 1.39%
6,638,775
+1,322,450
+25% +$6.32M
MNK
32
DELISTED
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
$30.7M 1.28%
2,119,275
+500,700
+31% +$9.03M
SFIX
33
Stitch Fix
SFIX
$446M
$28M 1.17%
1,379,173
-14,757
-1% -$320K
SPY icon
34
State Street SPDR S&P 500 ETF Trust
SPY
$809B
$22.9M 0.96%
87,210
+36,920
+73% +$10.1M
ATHN
35
DELISTED
Athenahealth, Inc.
ATHN
$22.3M 0.93%
156,065
-13,980
-8% -$1.91M
TCRT icon
36
Alaunos Therapeutics
TCRT
$4.47M
$19.7M 0.82%
33,586
-309
-0.9% -$193K
GTYHU
37
DELISTED
GTY Technology Holdings, Inc. Units
GTYHU
$19.4M 0.81%
1,878,975
-21,400
-1% -$221K
TBT icon
38
ProShares Trust UltraShort Lehman 20+ Year Treasury
TBT
$311M
$18.1M 0.76%
500,000
+250,000
+100% +$9.29M
PGEN icon
39
CALL
Precigen
PGEN
$2.58B
$15.3M 0.64%
1,000,000
– –
WD icon
40
Walker & Dunlop
WD
$1.38B
$11.9M 0.5%
200,000
– –
CHGG icon
41
Chegg
CHGG
$90.8M
$11.4M 0.47%
550,000
– –
MU icon
42
Micron Technology
MU
$1.09T
$10.4M 0.43%
+200,000
New +$9.57M
STLA icon
43
Stellantis
STLA
$20.4B
$10.3M 0.43%
500,000
– –
APO icon
44
Apollo Global Management
APO
$78.4B
$8.53M 0.36%
288,000
– –
PRMW
45
DELISTED
Primo Water Corporation
PRMW
$8.1M 0.34%
550,000
– –
UPRO icon
46
ProShares UltraPro S&P 500
UPRO
$5.53B
$7.99M 0.33%
366,630
+190,230
+108% +$4.68M
CG icon
47
Carlyle Group
CG
$17.6B
$7.15M 0.3%
335,000
– –
ANF icon
48
Abercrombie & Fitch
ANF
$4.84B
$6.61M 0.28%
273,000
-12,255
-4% -$259K
CS
49
DELISTED
Credit Suisse Group
CS
$6.36M 0.27%
378,715
– –
RITM icon
50
Rithm Capital
RITM
$5.69B
$5.82M 0.24%
353,750
+42,000
+13% +$714K
1
2
3 4 5

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Bill Miller's Q1 2018 Portfolio in Review

As of Q1 2018, Bill Miller held 119 positions worth $2.4B, up 2.1% from $2.35B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Bill Miller's Q1 2018 filing shows 7 new, 33 increased, 36 reduced and 9 closed positions. Its largest new stake was Micron Technology: 200,000 shares worth $10.4M. The largest sale was Bausch Health, an estimated $24.8M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 25% of assets, down from 27% a quarter earlier, followed by Healthcare and Financials.

  • Bill Miller's largest Q1 2018 buy was Micron Technology: 200,000 shares worth $10.4M.
  • Bill Miller added most to Celgene Corp in Q1 2018, an estimated $39.5M increase.
  • Bill Miller's biggest Q1 2018 reduction was Bausch Health, cutting an estimated $24.8M.
  • Bill Miller fully exited CalAtlantic Group, Inc. in Q1 2018, selling an estimated $5.64M.
  • Bill Miller's ten largest holdings make up 40% of its $2.4B portfolio in Q1 2018.
  • Bill Miller opened 7 new positions and closed 9 in Q1 2018.
  • Bill Miller's portfolio value rose 2.1% quarter-over-quarter to $2.4B.

Based on Miller Value Partners's 13F filing for Q1 2018, filed 15 May 2018.