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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
-0.87%
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
$1.65B
AUM Growth
-$322M
Cap. Flow
-$238M
Cap. Flow %
-14.48%
Top 10 Hldgs %
41.74%
Holding
136
New
18
Increased
30
Reduced
35
Closed
44

Top Buys

Rank Stock Value
1
SFIX
Stitch Fix
SFIX
+$25.5M
2
SI
Silvergate Capital Corporation
SI
+$22.1M
3
EXPE icon
Expedia Group
EXPE
+$18.8M
4
SOFI icon
SoFi Technologies
SOFI
+$18.3M
5
FTCH
Farfetch Limited Class A Ordinary Shares
FTCH
+$16.6M

Top Sells

Rank Stock Value
1
DXC icon
DXC Technology
DXC
+$28.2M
2
ADT icon
ADT
ADT
+$28.1M
3
BABA icon
Alibaba
BABA
+$17.7M
4
FANG icon
Diamondback Energy
FANG
+$16.9M
5
SPLK
Splunk Inc
SPLK
+$16.6M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 28.92%
2 Financials 16.78%
3 Energy 12.78%
4 Technology 11.21%
5 Industrials 10.84%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
COF icon
26
Capital One
COF
$134B
$28.3M 1.72%
307,276
-10,053
-3% -$1.07M
VNT icon
27
Vontier
VNT
$4.46B
$26.5M 1.61%
1,585,429
-446,773
-22% -$9.96M
SOFI icon
28
SoFi Technologies
SOFI
$24.4B
$24.8M 1.51%
5,085,933
+2,889,833
+132% +$18.3M
SPLK
29
DELISTED
Splunk Inc
SPLK
$23.8M 1.45%
316,590
-169,536
-35% -$16.6M
SI
30
DELISTED
Silvergate Capital Corporation
SI
$19.6M 1.19%
+259,760
New +$22.1M
SFIX
31
Stitch Fix
SFIX
$446M
$17.7M 1.08%
+4,484,363
New +$25.5M
COIN icon
32
Coinbase
COIN
$49.2B
$16.9M 1.02%
261,614
-27,790
-10% -$1.94M
GOOS
33
Canada Goose Holdings
GOOS
$854M
$15.3M 0.93%
1,004,071
+116,970
+13% +$2.19M
BAC icon
34
Bank of America
BAC
$431B
$12.8M 0.78%
423,292
+1,857
+0.4% +$62.1K
BHC icon
35
Bausch Health
BHC
$2.41B
$10.7M 0.65%
1,555,658
-1,003,728
-39% -$6.97M
BKE icon
36
Buckle
BKE
$2.26B
$8.43M 0.51%
266,200
+146,200
+122% +$4.59M
VTRS icon
37
Viatris
VTRS
$18.7B
$8.04M 0.49%
943,500
-34,000
-3% -$335K
CHS
38
DELISTED
Chicos FAS, Inc.
CHS
$7.57M 0.46%
1,564,362
-305,070
-16% -$1.7M
VALE icon
39
Vale
VALE
$62.1B
$7.45M 0.45%
559,500
-21,000
-4% -$276K
ARLP icon
40
Alliance Resource Partners
ARLP
$3.38B
$7.42M 0.45%
324,000
-121,000
-27% -$2.77M
JXN icon
41
Jackson Financial
JXN
$8.8B
$7.2M 0.44%
259,525
+22,055
+9% +$652K
CC icon
42
Chemours
CC
$2.4B
$7.12M 0.43%
289,000
-11,000
-4% -$363K
SPY icon
43
State Street SPDR S&P 500 ETF Trust
SPY
$809B
$6.96M 0.42%
19,480
-2,454
-11% -$975K
CTO
44
CTO Realty Growth
CTO
$817M
$6.75M 0.41%
360,000
+75,000
+26% +$1.57M
OGN icon
45
Organon & Co
OGN
$3.61B
$4.8M 0.29%
205,000
-10,000
-5% -$302K
EXE
46
Expand Energy Corp
EXE
$22.2B
$4.71M 0.29%
50,000
– –
LAZ icon
47
Lazard
LAZ
$4.3B
$4.37M 0.27%
137,200
– –
MPT
48
Medical Properties Trust
MPT
$2.46B
$3.94M 0.24%
+332,000
New +$5.03M
NBR icon
49
Nabors Industries
NBR
$1.37B
$3.93M 0.24%
38,726
+4,120
+12% +$505K
SCU
50
DELISTED
Sculptor Capital Management, Inc. Class A Common Stock
SCU
$3.91M 0.24%
442,400
+20,000
+5% +$185K
1
2
3 4 5

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Bill Miller's Q3 2022 Portfolio in Review

As of Q3 2022, Bill Miller held 136 positions worth $1.65B, down 16% from $1.97B the previous quarter. Its ten largest holdings account for 42% of the portfolio.

Bill Miller withdrew a net $238M in Q3 2022, closing 44 positions and reducing 35 holdings. Its most notable exit was Precigen, an estimated $7.5M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 29% of assets, up from 25% a quarter earlier, followed by Financials and Energy.

Against the trend, Bill Miller opened a new position in Stitch Fix worth $17.7M.

  • Bill Miller's largest Q3 2022 buy was Stitch Fix: 4,484,363 shares worth $17.7M.
  • Bill Miller added most to Expedia Group in Q3 2022, an estimated $18.8M increase.
  • Bill Miller's biggest Q3 2022 reduction was DXC Technology, cutting an estimated $28.2M.
  • Bill Miller fully exited Precigen in Q3 2022, selling an estimated $7.5M.
  • Bill Miller's ten largest holdings make up 42% of its $1.65B portfolio in Q3 2022.
  • Bill Miller opened 18 new positions and closed 44 in Q3 2022.
  • Bill Miller's portfolio value fell 16% quarter-over-quarter to $1.65B.

Based on Miller Value Partners's 13F filing for Q3 2022, filed 14 Nov 2022.