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 |
Mattel
MAT
|
+$84.3M |
| 2 |
Ovintiv
OVV
|
+$78.3M |
| 3 |
Coinbase
COIN
|
+$71.2M |
| 4 |
FISV
Fiserv Inc
FISV
|
+$52.5M |
| 5 |
Norwegian Cruise Line
NCLH
|
+$25.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MTTR
Matterport, Inc. Class A Common Stock
MTTR
|
+$66M |
| 2 |
Acuity Brands
AYI
|
+$52.1M |
| 3 |
Vroom Inc
VRM
|
+$45.1M |
| 4 |
Chemours
CC
|
+$33.1M |
| 5 |
Rocket Companies
RKT
|
+$31.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 21.65% |
| 2 | Financials | 11.16% |
| 3 | Technology | 10.21% |
| 4 | Healthcare | 9.13% |
| 5 | Industrials | 7.5% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
SCU
51
DELISTED
Sculptor Capital Management, Inc. Class A Common Stock
SCU
| $7.95M | 0.22% |
372,400
+165,000
| +80% | +$3.77M |
|
52
Alliance Resource Partners
ARLP
$3.38B
| $7.59M | 0.21% |
600,700
+275,000
| +84% | +$3.1M |
|
|
APTS
53
DELISTED
Preferred Apartment Communities, Inc.
APTS
| $7.15M | 0.2% |
396,000
-204,000
| -34% | -$2.8M |
|
54
Nabors Industries
NBR
$1.37B
| $6.42M | 0.18% |
79,161
+8,800
| +13% | +$867K |
|
|
TDAY
55
USA Today Co
TDAY
$950M
| $5.79M | 0.16% |
1,085,900
+86,950
| +9% | +$485K |
|
56
Western Midstream Partners
WES
$20B
| $5.56M | 0.15% |
+249,700
| New | +$5.34M |
|
57
Organon & Co
OGN
$3.61B
| $5.48M | 0.15% |
180,000
+25,000
| +16% | +$814K |
|
58
Lazard
LAZ
$4.3B
| $5.33M | 0.15% |
122,200
| – | – |
|
59
Carlyle Group
CG
$17.6B
| $4.83M | 0.13% |
88,000
-17,000
| -16% | -$926K |
|
|
DBD
60
DELISTED
Diebold Nixdorf Incorporated
DBD
| $4.8M | 0.13% |
530,250
+56,000
| +12% | +$520K |
|
|
HMPT
61
DELISTED
Home Point Capital, Inc Common Stock
HMPT
| $4.56M | 0.12% |
1,014,045
| – | – |
|
62
Quad
QUAD
$532M
| $4.05M | 0.11% |
1,013,875
+406,825
| +67% | +$1.67M |
|
63
Jackson Financial
JXN
$8.8B
| $3.97M | 0.11% |
+95,000
| New | +$3.11M |
|
|
TEN
64
DELISTED
Tenneco Inc. Class A Voting Common Stock
TEN
| $3.84M | 0.11% |
339,630
+153,130
| +82% | +$1.91M |
|
|
MFA
65
MFA Financial
MFA
$901M
| $3.53M | 0.1% |
193,463
| – | – |
|
66
Citigroup
C
$221B
| $3.32M | 0.09% |
55,000
-428,421
| -89% | -$28.5M |
|
|
CTO
67
CTO Realty Growth
CTO
$817M
| $3.07M | 0.08% |
+150,000
| New | +$2.78M |
|
68
The GEO Group
GEO
$4.31B
| $2.79M | 0.08% |
360,000
| – | – |
|
69
Yeti Holdings
YETI
$3.19B
| $2.73M | 0.07% |
33,000
-3,700
| -10% | -$340K |
|
|
BBBY
70
DELISTED
Bed Bath & Beyond Inc
BBBY
| $2.49M | 0.07% |
170,850
+85,605
| +100% | +$1.5M |
|
|
SHPW
71
DELISTED
Shapeways Holdings, Inc. Common Stock
SHPW
| $2.33M | 0.06% |
78,663
+72,283
| +1,133% | +$3.39M |
|
72
eBay
EBAY
$46.3B
| $2.33M | 0.06% |
35,000
-4,525
| -11% | -$323K |
|
73
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $2.23M | 0.06% |
4,685
+3,498
| +295% | +$1.61M |
|
74
CALL
Ford
F
$57.5B
| $2.18M | 0.06% |
105,000
-65,000
| -38% | -$1.2M |
|
75
CALL
Deutsche Bank
DB
$71.1B
| $2.13M | 0.06% |
170,000
| – | – |
|
Similar funds
Bill Miller's Q4 2021 Portfolio in Review
As of Q4 2021, Bill Miller held 143 positions worth $3.65B, down 15% from $4.31B the previous quarter. Its ten largest holdings account for 41% of the portfolio.
Bill Miller withdrew a net $524M in Q4 2021, closing 14 positions and reducing 35 holdings. Its most notable exit was Matterport, Inc. Class A Common Stock, an estimated $66M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 22% of assets, up from 17% a quarter earlier, followed by Financials and Technology.
Against the trend, Bill Miller opened a new position in Mattel worth $86.6M.
- Bill Miller's largest Q4 2021 buy was Mattel: 4,017,205 shares worth $86.6M.
- Bill Miller added most to Norwegian Cruise Line in Q4 2021, an estimated $25.1M increase.
- Bill Miller's biggest Q4 2021 reduction was Chemours, cutting an estimated $33.1M.
- Bill Miller fully exited Matterport, Inc. Class A Common Stock in Q4 2021, selling an estimated $66M.
- Bill Miller's ten largest holdings make up 41% of its $3.65B portfolio in Q4 2021.
- Bill Miller opened 18 new positions and closed 14 in Q4 2021.
- Bill Miller's portfolio value fell 15% quarter-over-quarter to $3.65B.
Based on Miller Value Partners's 13F filing for Q4 2021, filed 14 Feb 2022.