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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
+11.87%
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
$1.66B
AUM Growth
+$203M
Cap. Flow
+$45.8M
Cap. Flow %
2.76%
Top 10 Hldgs %
35.03%
Holding
103
New
4
Increased
46
Reduced
10
Closed
5

Top Buys

Rank Stock Value
1
PPLI
People Inc
PPLI
+$17.4M
2
PHM icon
Pultegroup
PHM
+$9.22M
3
DS
Drive Shack Inc.
DS
+$7.57M
4
APOL
Apollo Education Group Inc Class A
APOL
+$7.4M
5
TMHC
Taylor Morrison
TMHC
+$7.24M

Top Sells

Rank Stock Value
1
FON
SPRINT CORP FON COM
FON
+$20.7M
2
GRPN icon
Groupon
GRPN
+$13.5M
3
LEDR
MARKET LEADER INC COM STK (WA)
LEDR
+$13.5M
4
P
Pandora Media Inc
P
+$7.67M
5
NFLX icon
Netflix
NFLX
+$4.36M

Sector Composition

Rank Sector Weight
1 Financials 27.54%
2 Consumer Discretionary 19.39%
3 Communication Services 11.92%
4 Industrials 11.19%
5 Technology 10.13%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HTS
51
DELISTED
HATTERAS FINANCIAL CORP
HTS
$6.38M 0.38%
341,250
+11,050
+3% +$222K
S
52
DELISTED
Sprint Corporation
S
$4.98M 0.3%
+800,218
New +$5.27M
RITM icon
53
Rithm Capital
RITM
$5.69B
$2.66M 0.16%
200,950
+5,600
+3% +$73.3K
EARN
54
Ellington Residential Mortgage REIT
EARN
$166M
$1.15M 0.07%
+75,000
New +$1.15M
CIM
55
Chimera Investment
CIM
$964M
$1.04M 0.06%
22,891
– –
APO icon
56
Apollo Global Management
APO
$78.4B
$877K 0.05%
31,000
– –
CODI icon
57
Compass Diversified
CODI
$879M
$874K 0.05%
49,000
– –
CYS
58
DELISTED
CYS Investments Inc.
CYS
$870K 0.05%
+107,000
New +$865K
KKR icon
59
KKR & Co
KKR
$97.4B
$842K 0.05%
40,900
– –
SCU
60
DELISTED
Sculptor Capital Management, Inc. Class A Common Stock
SCU
$826K 0.05%
7,510
– –
PBI icon
61
Pitney Bowes
PBI
$2.26B
$812K 0.05%
44,600
-9,000
-17% -$148K
KDP icon
62
Keurig Dr Pepper
KDP
$43.6B
$807K 0.05%
18,000
– –
EAT icon
63
Brinker International
EAT
$10.6B
$771K 0.05%
19,000
– –
QUAD icon
64
Quad
QUAD
$532M
$759K 0.05%
25,000
– –
DNY
65
DELISTED
DONNELLEY R R & SONS CO
DNY
$742K 0.04%
47,000
-18,000
-28% -$284K
WIN
66
DELISTED
Windstream Holdings Inc
WIN
$696K 0.04%
11,107
– –
RWT
67
Redwood Trust
RWT
$603M
$690K 0.04%
35,000
– –
OAK
68
DELISTED
OAKTREE CAPITAL GROUP, LLC
OAK
$681K 0.04%
13,000
– –
NCMI icon
69
National CineMedia
NCMI
$239M
$679K 0.04%
3,600
– –
PFX icon
70
PhenixFIN
PFX
$98.9M
$665K 0.04%
2,410
– –
BGMD
71
DELISTED
BG MEDICINE INC COM STK NEW
BGMD
$630K 0.04%
171,059
– –
HLF icon
72
Herbalife
HLF
$1.33B
$628K 0.04%
18,000
– –
FCRD
73
DELISTED
First Eagle Alternative Capital BDC, Inc. Common Stock
FCRD
$625K 0.04%
40,000
– –
PNNT
74
Pennant Park Investment Corp
PNNT
$244M
$619K 0.04%
54,860
-24,000
-30% -$274K
PDLI
75
DELISTED
PDL BioPharma, Inc.
PDLI
$609K 0.04%
76,400
– –
1 2
3
4 5

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Bill Miller's Q3 2013 Portfolio in Review

As of Q3 2013, Bill Miller held 103 positions worth $1.66B, up 14% from $1.46B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Bill Miller's Q3 2013 filing shows 4 new, 46 increased, 10 reduced and 5 closed positions. Its largest new stake was People Inc: 1,899,641 shares worth $18.6M. The largest sale was SPRINT CORP FON COM, an estimated $20.7M.

By sector, the portfolio is most concentrated in Financials at 28% of assets, down from 29% a quarter earlier, followed by Consumer Discretionary and Communication Services.

  • Bill Miller's largest Q3 2013 buy was People Inc: 1,899,641 shares worth $18.6M.
  • Bill Miller added most to Pultegroup in Q3 2013, an estimated $9.22M increase.
  • Bill Miller's biggest Q3 2013 reduction was Groupon, cutting an estimated $13.5M.
  • Bill Miller fully exited SPRINT CORP FON COM in Q3 2013, selling an estimated $20.7M.
  • Bill Miller's ten largest holdings make up 35% of its $1.66B portfolio in Q3 2013.
  • Bill Miller opened 4 new positions and closed 5 in Q3 2013.
  • Bill Miller's portfolio value rose 14% quarter-over-quarter to $1.66B.

Based on Miller Value Partners's 13F filing for Q3 2013, filed 14 Nov 2013.