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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
+4.8%
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
$2.63B
AUM Growth
+$104M
Cap. Flow
-$16.5M
Cap. Flow %
-0.63%
Top 10 Hldgs %
37.7%
Holding
117
New
15
Increased
33
Reduced
29
Closed
15

Top Buys

Rank Stock Value
1
TVTY
Tivity Health, Inc. Common Stock
TVTY
+$52M
2
CVS icon
CVS Health
CVS
+$40.9M
3
BABA icon
Alibaba
BABA
+$39.1M
4
ADT icon
ADT
ADT
+$30.9M
5
EB
Eventbrite
EB
+$30.8M

Top Sells

Rank Stock Value
1
LUMN icon
Lumen
LUMN
+$42.2M
2
AGN
Allergan plc
AGN
+$40.8M
3
CELG
Celgene Corp
CELG
+$39.9M
4
AVP
Avon Products, Inc.
AVP
+$26.7M
5
EIGI
Endurance International Group Holdings, Inc.
EIGI
+$25.6M

Sector Composition

Rank Sector Weight
1 Healthcare 21.76%
2 Financials 19.36%
3 Consumer Discretionary 18.02%
4 Industrials 11.94%
5 Communication Services 10.05%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AAL icon
26
American Airlines Group
AAL
$9.15B
$50.4M 1.92%
1,544,775
+200
+0% +$6.46K
QCOM icon
27
Qualcomm
QCOM
$169B
$47.9M 1.82%
630,115
+3,300
+0.5% +$242K
C icon
28
Citigroup
C
$221B
$45.6M 1.74%
651,231
+3,625
+0.6% +$243K
TVTY
29
DELISTED
Tivity Health, Inc. Common Stock
TVTY
$44.3M 1.68%
+2,693,150
New +$52M
CVS icon
30
CVS Health
CVS
$119B
$41.4M 1.57%
+759,575
New +$40.9M
ENDP
31
DELISTED
Endo International plc
ENDP
$40.4M 1.54%
9,797,300
+744,240
+8% +$4.7M
BABA icon
32
Alibaba
BABA
$286B
$39.2M 1.49%
231,280
+226,780
+5,040% +$39.1M
MNK
33
DELISTED
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
$34M 1.29%
3,704,050
+591,800
+19% +$8.55M
SFIX
34
Stitch Fix
SFIX
$446M
$28M 1.07%
876,225
– –
EB
35
DELISTED
Eventbrite
EB
$26.8M 1.02%
+1,655,875
New +$30.8M
CHGG icon
36
Chegg
CHGG
$90.8M
$19.3M 0.73%
500,000
– –
APO icon
37
Apollo Global Management
APO
$78.4B
$15.4M 0.59%
449,500
-7,000
-2% -$222K
WLH
38
DELISTED
WILLIAM LYON HOMES
WLH
$14.8M 0.56%
809,880
-11,995
-1% -$216K
CG icon
39
Carlyle Group
CG
$17.6B
$13.2M 0.5%
583,800
– –
GTYH
40
DELISTED
GTY Technology Holdings, Inc. Common Stock
GTYH
$12.7M 0.48%
1,851,725
– –
PBI icon
41
Pitney Bowes
PBI
$2.26B
$12.5M 0.48%
2,917,875
+531,550
+22% +$2.85M
WD icon
42
Walker & Dunlop
WD
$1.38B
$10.6M 0.4%
200,000
– –
MIC
43
DELISTED
Macquarie Infrastructure Holdings, LLC
MIC
$10.5M 0.4%
258,000
– –
LUMN icon
44
Lumen
LUMN
$6.13B
$9.56M 0.36%
812,891
-3,747,524
-82% -$42.2M
BX icon
45
Blackstone
BX
$108B
$8.71M 0.33%
196,000
-15,000
-7% -$598K
PGEN icon
46
CALL
Precigen
PGEN
$2.58B
$8.5M 0.32%
1,110,000
– –
PRMW
47
DELISTED
Primo Water Corporation
PRMW
$8.01M 0.3%
600,000
– –
UPRO icon
48
ProShares UltraPro S&P 500
UPRO
$5.53B
$7.88M 0.3%
291,200
– –
NCMI icon
49
National CineMedia
NCMI
$239M
$7.15M 0.27%
109,000
+14,000
+15% +$985K
NGL icon
50
NGL Energy Partners
NGL
$2.1B
$7.02M 0.27%
475,000
– –
1
2
3 4 5

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Bill Miller's Q2 2019 Portfolio in Review

As of Q2 2019, Bill Miller held 117 positions worth $2.63B, up 4.1% from $2.52B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Bill Miller's Q2 2019 filing shows 15 new, 33 increased, 29 reduced and 15 closed positions. Its largest new stake was Tivity Health, Inc. Common Stock: 2,693,150 shares worth $44.3M. The largest sale was Lumen, an estimated $42.2M.

By sector, the portfolio is most concentrated in Healthcare at 22% of assets, down from 24% a quarter earlier, followed by Financials and Consumer Discretionary.

  • Bill Miller's largest Q2 2019 buy was Tivity Health, Inc. Common Stock: 2,693,150 shares worth $44.3M.
  • Bill Miller added most to Alibaba in Q2 2019, an estimated $39.1M increase.
  • Bill Miller's biggest Q2 2019 reduction was Lumen, cutting an estimated $42.2M.
  • Bill Miller fully exited Allergan plc in Q2 2019, selling an estimated $40.8M.
  • Bill Miller's ten largest holdings make up 38% of its $2.63B portfolio in Q2 2019.
  • Bill Miller opened 15 new positions and closed 15 in Q2 2019.
  • Bill Miller's portfolio value rose 4.1% quarter-over-quarter to $2.63B.

Based on Miller Value Partners's 13F filing for Q2 2019, filed 14 Aug 2019.