Bill Miller Miller Value Partners
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ADT
ADT
|
+$52.8M |
| 2 |
Brighthouse Financial
BHF
|
+$40M |
| 3 |
CELG
Celgene Corp
CELG
|
+$23.7M |
| 4 |
MNK
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
|
+$19.4M |
| 5 |
Meta Platforms (Facebook)
META
|
+$10.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Element Solutions
ESI
|
+$25.3M |
| 2 |
ATHN
Athenahealth, Inc.
ATHN
|
+$22.3M |
| 3 |
MGIC Investment
MTG
|
+$20.7M |
| 4 |
Wayfair
W
|
+$19.1M |
| 5 |
RH
RH
|
+$16.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 23.99% |
| 2 | Healthcare | 23.97% |
| 3 | Financials | 15.78% |
| 4 | Communication Services | 12.08% |
| 5 | Industrials | 10.11% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
ALXN
26
DELISTED
Alexion Pharmaceuticals
ALXN
| $54.9M | 2.05% |
442,345
+21,280
| +5% | +$2.49M |
|
|
P
27
DELISTED
Pandora Media Inc
P
| $51.7M | 1.93% |
6,564,800
-73,975
| -1% | -$494K |
|
|
28
Wayfair
W
$13.9B
| $51.1M | 1.91% |
430,095
-220,605
| -34% | -$19.1M |
|
|
29
Element Solutions
ESI
$8.6B
| $47.7M | 1.78% |
4,109,900
-2,324,425
| -36% | -$25.3M |
|
|
AGN
30
DELISTED
Allergan plc
AGN
| $45.3M | 1.69% |
271,490
-320
| -0.1% | -$51.4K |
|
31
Citigroup
C
$221B
| $43.6M | 1.63% |
651,946
-1,585
| -0.2% | -$109K |
|
|
SFIX
32
Stitch Fix
SFIX
$446M
| $37.6M | 1.4% |
1,369,348
-9,825
| -0.7% | -$223K |
|
|
33
Brighthouse Financial
BHF
$3.01B
| $33.3M | 1.24% |
+830,612
| New | +$40M |
|
34
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $28.2M | 1.05% |
103,977
+16,767
| +19% | +$4.53M |
|
|
GTYHU
35
DELISTED
GTY Technology Holdings, Inc. Units
GTYHU
| $19.8M | 0.74% |
1,865,375
-13,600
| -0.7% | -$141K |
|
36
CALL
Precigen
PGEN
$2.58B
| $15.5M | 0.58% |
1,110,000
+110,000
| +11% | +$1.86M |
|
37
Chegg
CHGG
$90.8M
| $15.3M | 0.57% |
550,000
| – | – |
|
38
Alaunos Therapeutics
TCRT
$4.47M
| $14.8M | 0.55% |
32,778
-808
| -2% | -$512K |
|
39
ProShares UltraPro S&P 500
UPRO
$5.53B
| $14.7M | 0.55% |
628,320
+261,690
| +71% | +$6.06M |
|
40
Walker & Dunlop
WD
$1.38B
| $11.1M | 0.42% |
200,000
| – | – |
|
|
41
MGIC Investment
MTG
$6.34B
| $10.8M | 0.4% |
1,008,200
-1,900,425
| -65% | -$20.7M |
|
42
Micron Technology
MU
$1.09T
| $10.5M | 0.39% |
200,000
| – | – |
|
43
Apollo Global Management
APO
$78.4B
| $9.66M | 0.36% |
303,000
+15,000
| +5% | +$459K |
|
44
Stellantis
STLA
$20.4B
| $9.45M | 0.35% |
500,000
| – | – |
|
|
PRMW
45
DELISTED
Primo Water Corporation
PRMW
| $9.1M | 0.34% |
550,000
| – | – |
|
46
ProShares Trust UltraShort Lehman 20+ Year Treasury
TBT
$311M
| $8.99M | 0.34% |
250,000
-250,000
| -50% | -$9.35M |
|
47
Carlyle Group
CG
$17.6B
| $7.58M | 0.28% |
356,000
+21,000
| +6% | +$452K |
|
|
ATCO
48
DELISTED
Atlas Corp.
ATCO
| $6.77M | 0.25% |
664,625
+3,500
| +0.5% | +$29K |
|
|
HCR
49
DELISTED
Hi-Crush Inc. Common Stock
HCR
| $6.73M | 0.25% |
570,000
+95,000
| +20% | +$1.18M |
|
50
Rithm Capital
RITM
$5.69B
| $6.19M | 0.23% |
353,750
| – | – |
|
Similar funds
Bill Miller's Q2 2018 Portfolio in Review
As of Q2 2018, Bill Miller held 119 positions worth $2.68B, up 12% from $2.4B the previous quarter. Its ten largest holdings account for 39% of the portfolio.
Bill Miller's Q2 2018 filing shows 9 new, 33 increased, 32 reduced and 8 closed positions. Its largest new stake was ADT: 6,359,450 shares worth $55M. The largest sale was Element Solutions, an estimated $25.3M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 24% of assets, down from 25% a quarter earlier, followed by Healthcare and Financials.
- Bill Miller's largest Q2 2018 buy was ADT: 6,359,450 shares worth $55M.
- Bill Miller added most to Celgene Corp in Q2 2018, an estimated $23.7M increase.
- Bill Miller's biggest Q2 2018 reduction was Element Solutions, cutting an estimated $25.3M.
- Bill Miller fully exited Athenahealth, Inc. in Q2 2018, selling an estimated $22.3M.
- Bill Miller's ten largest holdings make up 39% of its $2.68B portfolio in Q2 2018.
- Bill Miller opened 9 new positions and closed 8 in Q2 2018.
- Bill Miller's portfolio value rose 12% quarter-over-quarter to $2.68B.
Based on Miller Value Partners's 13F filing for Q2 2018, filed 14 Aug 2018.