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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
CLCT
76
DELISTED
Collectors Universe
CLCT
$573K 0.03%
39,000
– –
DINO icon
77
HF Sinclair
DINO
$17.3B
$569K 0.03%
13,500
– –
BGC icon
78
BGC Group
BGC
$5.63B
$565K 0.03%
155,500
– –
MCD icon
79
McDonald's
MCD
$192B
$549K 0.03%
5,700
-2,800
-33% -$273K
SUNS
80
DELISTED
SLR Senior Investment Corp. Common Stock
SUNS
$532K 0.03%
29,400
– –
RSO
81
DELISTED
Resource Capital Corp.
RSO
$500K 0.03%
21,025
– –
STWD icon
82
Starwood Property Trust
STWD
$6.06B
$480K 0.03%
24,804
– –
ETP
83
DELISTED
Energy Transfer Partners L.p.
ETP
$459K 0.03%
8,800
– –
RNDY
84
DELISTED
ROUNDYS INC COM STK
RNDY
$430K 0.03%
50,000
– –
GBDC icon
85
Golub Capital BDC
GBDC
$3.43B
$415K 0.03%
24,402
– –
CMO
86
DELISTED
Capstead Mortgage Corp.
CMO
$412K 0.02%
35,000
– –
BLK icon
87
Blackrock
BLK
$179B
$406K 0.02%
1,500
– –
BKCC
88
DELISTED
BlackRock Capital Investment Corporation
BKCC
$406K 0.02%
42,800
-28,000
-40% -$276K
SLRC icon
89
SLR Investment Corp
SLRC
$689M
$378K 0.02%
17,000
– –
RBS.PRT
90
DELISTED
ROYAL BANK OF SCOTLAND GRP PLS (THE) SPONS ADR REPSTG PFD
RBS.PRT
$357K 0.02%
15,200
– –
FTR
91
DELISTED
Frontier Communications Corp.
FTR
$356K 0.02%
5,667
– –
SAN icon
92
Banco Santander
SAN
$212B
$336K 0.02%
45,250
– –
ARR
93
Armour Residential REIT
ARR
$2.31B
$315K 0.02%
1,875
– –
NLY icon
94
Annaly Capital Management
NLY
$17.5B
$287K 0.02%
6,186
– –
WMC
95
DELISTED
Western Asset Mortgage Capital Corporation
WMC
$224K 0.01%
1,400
– –
CHKR
96
DELISTED
CHESAPEAKE GRANITE WASH TRUST
CHKR
$201K 0.01%
15,000
– –
MCGC
97
DELISTED
MCG CAP CORP
MCGC
$189K 0.01%
37,500
– –
ARI
98
Apollo Commercial Real Estate
ARI
$889M
$101K 0.01%
6,600
– –
AB icon
99
AllianceBernstein
AB
$3.37B
– –
-3,390
Closed -$71K
HIX
100
Western Asset High Income Fund II
HIX
$355M
– –
-70,460
Closed -$650K
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.