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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
ATCO
51
DELISTED
Atlas Corp.
ATCO
$6.28M 0.24%
640,175
-26,750
-4% -$258K
JE
52
DELISTED
Just Energy Group Inc
JE
$6.26M 0.24%
44,118
-39,610
-47% -$4.77M
BGC icon
53
BGC Group
BGC
$5.63B
$5.24M 0.2%
1,001,000
– –
QUAD icon
54
Quad
QUAD
$532M
$4.63M 0.18%
585,000
+325,000
+125% +$3.4M
TEVA icon
55
CALL
Teva Pharmaceuticals
TEVA
$43.5B
$4.62M 0.18%
+500,000
New +$6.03M
TWO
56
Two Harbors Investment
TWO
$1.27B
$4.55M 0.17%
89,770
-5,000
-5% -$263K
FUN icon
57
Cedar Fair
FUN
$1.71B
$4.22M 0.16%
88,500
+36,000
+69% +$1.86M
ET icon
58
Energy Transfer Partners
ET
$73B
$4.17M 0.16%
296,240
– –
CIM
59
Chimera Investment
CIM
$964M
$4.15M 0.16%
73,333
-20,000
-21% -$1.13M
AAIC
60
DELISTED
Arlington Asset Investment Corp.
AAIC
$4.07M 0.15%
591,700
– –
CHS
61
DELISTED
Chicos FAS, Inc.
CHS
$3.88M 0.15%
+1,150,000
New +$4.18M
GNW icon
62
CALL
Genworth Financial
GNW
$3.73B
$3.71M 0.14%
+1,000,000
New +$3.54M
ANF icon
63
Abercrombie & Fitch
ANF
$4.84B
$3.21M 0.12%
+200,000
New +$4.63M
STLA icon
64
Stellantis
STLA
$20.4B
$2.76M 0.11%
200,000
-300,000
-60% -$4.36M
TDAY
65
USA Today Co
TDAY
$950M
$2.76M 0.1%
292,000
-50,000
-15% -$500K
SCU
66
DELISTED
Sculptor Capital Management, Inc. Class A Common Stock
SCU
$2.74M 0.1%
+119,500
New +$2.13M
FTR
67
CALL
DELISTED
Frontier Communications Corp.
FTR
$2.49M 0.09%
1,421,000
-79,000
-5% -$161K
WPG
68
DELISTED
Washington Prime Group Inc.
WPG
$2.2M 0.08%
63,889
– –
MNK
69
CALL
DELISTED
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
$1.84M 0.07%
+200,000
New +$2.89M
NBR icon
70
Nabors Industries
NBR
$1.37B
$1.47M 0.06%
10,115
+1,744
+21% +$278K
TWTR
71
DELISTED
Twitter, Inc.
TWTR
$1.43M 0.05%
41,000
– –
MAXR
72
DELISTED
Maxar Technologies Inc. Common Stock
MAXR
$1.4M 0.05%
178,725
+20,700
+13% +$129K
PBI icon
73
CALL
Pitney Bowes
PBI
$2.26B
$1.28M 0.05%
+300,000
New +$1.61M
GHL
74
DELISTED
Greenhill & Co., Inc.
GHL
$1.05M 0.04%
77,000
-135,000
-64% -$2.48M
CHAP
75
DELISTED
Chaparral Energy, Inc.
CHAP
$917K 0.03%
+194,610
New +$973K
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.