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 |
SI
Silvergate Capital Corporation
SI
|
+$46.2M |
| 2 |
Travel + Leisure Co
TNL
|
+$37.5M |
| 3 |
EXE
Expand Energy Corp
EXE
|
+$33M |
| 4 |
Coinbase
COIN
|
+$24M |
| 5 |
GOOS
Canada Goose Holdings
GOOS
|
+$21.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Teva Pharmaceuticals
TEVA
|
+$35.8M |
| 2 |
Diamondback Energy
FANG
|
+$35.6M |
| 3 |
DXC Technology
DXC
|
+$28.9M |
| 4 |
Vontier
VNT
|
+$26.5M |
| 5 |
Ovintiv
OVV
|
+$25.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 32.91% |
| 2 | Financials | 18.8% |
| 3 | Energy | 12.01% |
| 4 | Industrials | 11.06% |
| 5 | Technology | 8.35% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Medifast
MED
$134M
| $3.63M | 0.23% |
+31,500
| New | +$3.67M |
|
52
Simon Property Group
SPG
$70.6B
| $3.41M | 0.22% |
29,000
| – | – |
|
53
TechnipFMC
FTI
$30.4B
| $3.39M | 0.22% |
278,200
-75,370
| -21% | -$843K |
|
|
SCU
54
DELISTED
Sculptor Capital Management, Inc. Class A Common Stock
SCU
| $3.14M | 0.2% |
362,400
-80,000
| -18% | -$767K |
|
55
BRC Group Holdings
RILY
$286M
| $2.99M | 0.19% |
87,500
| – | – |
|
|
DCH
56
Dauch Corp
DCH
$1.63B
| $2.65M | 0.17% |
339,475
+6,375
| +2% | +$57.1K |
|
|
TPC
57
Tutor Perini Cor
TPC
$4.8B
| $2.32M | 0.15% |
306,700
+140,635
| +85% | +$996K |
|
58
T. Rowe Price
TROW
$23.8B
| $2.09M | 0.13% |
19,175
| – | – |
|
59
M/I Homes
MHO
$3.85B
| $1.94M | 0.12% |
+41,915
| New | +$1.8M |
|
60
Artisan Partners
APAM
$3B
| $1.87M | 0.12% |
63,000
| – | – |
|
61
CALL
Deutsche Bank
DB
$71.1B
| $1.73M | 0.11% |
150,000
| – | – |
|
62
Crocs
CROX
$5.85B
| $1.63M | 0.1% |
15,000
-2,000
| -12% | -$177K |
|
63
Camping World
CWH
$676M
| $1.5M | 0.1% |
67,000
| – | – |
|
64
Pitney Bowes
PBI
$2.26B
| $1.46M | 0.09% |
383,159
-478,725
| -56% | -$1.61M |
|
65
Builders FirstSource
BLDR
$7.55B
| $1.39M | 0.09% |
+21,500
| New | +$1.34M |
|
66
Conduent
CNDT
$250M
| $1.3M | 0.08% |
320,825
-158,175
| -33% | -$606K |
|
|
FL
67
DELISTED
Foot Locker
FL
| $806K | 0.05% |
21,335
| – | – |
|
|
DO
68
DELISTED
Diamond Offshore Drilling, Inc.
DO
| $728K | 0.05% |
70,000
| – | – |
|
69
LyondellBasell Industries
LYB
$21.8B
| $664K | 0.04% |
+8,000
| New | +$655K |
|
70
Beazer Homes USA
BZH
$884M
| $638K | 0.04% |
+50,000
| New | +$607K |
|
71
Atkore
ATKR
$3.16B
| $567K | 0.04% |
+5,000
| New | +$523K |
|
72
Perdoceo Education
PRDO
$2.07B
| $487K | 0.03% |
35,000
-20,000
| -36% | -$255K |
|
|
TUP
73
DELISTED
Tupperware Brands Corporation
TUP
| $407K | 0.03% |
98,426
-115,349
| -54% | -$618K |
|
74
CALL
Barclays
BCS
$90.2B
| $285K | 0.02% |
36,500
| – | – |
|
|
BVH
75
DELISTED
Bluegreen Vacations Holding Corporation
BVH
| $250K | 0.02% |
+10,000
| New | +$206K |
|
Similar funds
Bill Miller's Q4 2022 Portfolio in Review
As of Q4 2022, Bill Miller held 101 positions worth $1.55B, down 5.8% from $1.65B the previous quarter. Its ten largest holdings account for 39% of the portfolio.
Bill Miller withdrew a net $111M in Q4 2022, closing 17 positions and reducing 43 holdings. Its most notable exit was Diamondback Energy, an estimated $35.6M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 33% of assets, up from 29% a quarter earlier, followed by Financials and Energy.
Against the trend, Bill Miller opened a new position in Travel + Leisure Co worth $36.4M.
- Bill Miller's largest Q4 2022 buy was Travel + Leisure Co: 1,001,052 shares worth $36.4M.
- Bill Miller added most to Silvergate Capital Corporation in Q4 2022, an estimated $46.2M increase.
- Bill Miller's biggest Q4 2022 reduction was Teva Pharmaceuticals, cutting an estimated $35.8M.
- Bill Miller fully exited Diamondback Energy in Q4 2022, selling an estimated $35.6M.
- Bill Miller's ten largest holdings make up 39% of its $1.55B portfolio in Q4 2022.
- Bill Miller opened 9 new positions and closed 17 in Q4 2022.
- Bill Miller's portfolio value fell 5.8% quarter-over-quarter to $1.55B.
Based on Miller Value Partners's 13F filing for Q4 2022, filed 14 Feb 2023.