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 |
Citigroup
C
|
+$56.6M |
| 2 |
Cleveland-Cliffs
CLF
|
+$50.2M |
| 3 |
Alibaba
BABA
|
+$18M |
| 4 |
FTCH
Farfetch Limited Class A Ordinary Shares
FTCH
|
+$17.9M |
| 5 |
Coinbase
COIN
|
+$14.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Diamondback Energy
FANG
|
+$57.3M |
| 2 |
Bank of America
BAC
|
+$43.6M |
| 3 |
The RealReal
REAL
|
+$35.8M |
| 4 |
TVTY
Tivity Health, Inc. Common Stock
TVTY
|
+$21M |
| 5 |
DXC Technology
DXC
|
+$15.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 21.39% |
| 2 | Technology | 11.79% |
| 3 | Financials | 11.71% |
| 4 | Healthcare | 10.32% |
| 5 | Energy | 8.69% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
TUP
26
DELISTED
Tupperware Brands Corporation
TUP
| $54.8M | 1.76% |
2,818,326
+1,845
| +0.1% | +$31.5K |
|
27
JPMorgan Chase
JPM
$935B
| $53.7M | 1.73% |
394,190
-11,019
| -3% | -$1.63M |
|
|
28
Citigroup
C
$221B
| $51.8M | 1.67% |
970,807
+915,807
| +1,665% | +$56.6M |
|
|
FTCH
29
DELISTED
Farfetch Limited Class A Ordinary Shares
FTCH
| $49M | 1.58% |
3,237,951
+925,226
| +40% | +$17.9M |
|
30
Uber
UBER
$161B
| $48.1M | 1.55% |
1,347,896
+118,839
| +10% | +$4.27M |
|
31
Vontier
VNT
$4.46B
| $47.9M | 1.54% |
1,884,582
+5,299
| +0.3% | +$140K |
|
32
Capital One
COF
$134B
| $47.1M | 1.51% |
358,507
-54,297
| -13% | -$7.92M |
|
|
WW
33
DELISTED
WW International
WW
| $42.3M | 1.36% |
4,137,036
+16,024
| +0.4% | +$188K |
|
|
GOOS
34
Canada Goose Holdings
GOOS
$854M
| $33.6M | 1.08% |
1,275,206
-133,585
| -9% | -$3.84M |
|
|
KRTX
35
DELISTED
Karuna Therapeutics, Inc. Common Stock
KRTX
| $30.7M | 0.99% |
241,848
+525
| +0.2% | +$59.1K |
|
36
SoFi Technologies
SOFI
$24.4B
| $21.9M | 0.71% |
2,319,678
+1,742
| +0.1% | +$20K |
|
|
37
Bank of America
BAC
$431B
| $17.5M | 0.56% |
425,302
-965,440
| -69% | -$43.6M |
|
|
SFIX
38
Stitch Fix
SFIX
$446M
| $15.8M | 0.51% |
1,569,629
-113,451
| -7% | -$1.57M |
|
39
Precigen
PGEN
$2.58B
| $13.5M | 0.43% |
6,391,355
-42,583
| -0.7% | -$104K |
|
40
Chemours
CC
$2.4B
| $13.1M | 0.42% |
415,600
+33,000
| +9% | +$1.03M |
|
41
Vale
VALE
$62.1B
| $11.6M | 0.37% |
580,500
-144,500
| -20% | -$2.5M |
|
42
H&R Block
HRB
$6.62B
| $10.7M | 0.34% |
410,000
| – | – |
|
43
Viatris
VTRS
$18.7B
| $10.6M | 0.34% |
977,500
+52,500
| +6% | +$692K |
|
44
ProShares UltraPro S&P 500
UPRO
$5.53B
| $9.79M | 0.32% |
153,900
-29,700
| -16% | -$1.84M |
|
|
CHS
45
DELISTED
Chicos FAS, Inc.
CHS
| $9.34M | 0.3% |
1,944,982
-47,000
| -2% | -$220K |
|
46
Pitney Bowes
PBI
$2.26B
| $8.89M | 0.29% |
1,709,159
+142,625
| +9% | +$773K |
|
47
Jackson Financial
JXN
$8.8B
| $8.36M | 0.27% |
188,950
+93,950
| +99% | +$3.91M |
|
48
Alliance Resource Partners
ARLP
$3.38B
| $7.84M | 0.25% |
508,000
-92,700
| -15% | -$1.31M |
|
49
Nabors Industries
NBR
$1.37B
| $7.61M | 0.25% |
49,851
-29,310
| -37% | -$3.68M |
|
50
Quad
QUAD
$532M
| $6.7M | 0.22% |
964,925
-48,950
| -5% | -$256K |
|
Similar funds
Bill Miller's Q1 2022 Portfolio in Review
As of Q1 2022, Bill Miller held 153 positions worth $3.11B, down 15% from $3.65B the previous quarter. Its ten largest holdings account for 41% of the portfolio.
Bill Miller withdrew a net $303M in Q1 2022, closing 27 positions and reducing 44 holdings. Its most notable exit was The RealReal, an estimated $35.8M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 21% of assets, down from 22% a quarter earlier, followed by Technology and Financials.
Against the trend, Bill Miller opened a new position in Apollo Global Management worth $5.27M.
- Bill Miller's largest Q1 2022 buy was Apollo Global Management: 85,000 shares worth $5.27M.
- Bill Miller added most to Citigroup in Q1 2022, an estimated $56.6M increase.
- Bill Miller's biggest Q1 2022 reduction was Diamondback Energy, cutting an estimated $57.3M.
- Bill Miller fully exited The RealReal in Q1 2022, selling an estimated $35.8M.
- Bill Miller's ten largest holdings make up 41% of its $3.11B portfolio in Q1 2022.
- Bill Miller opened 23 new positions and closed 27 in Q1 2022.
- Bill Miller's portfolio value fell 15% quarter-over-quarter to $3.11B.
Based on Miller Value Partners's 13F filing for Q1 2022, filed 16 May 2022.