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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
+0.23%
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
$2.33B
AUM Growth
-$140M
Cap. Flow
-$31.2M
Cap. Flow %
-1.34%
Top 10 Hldgs %
40.4%
Holding
126
New
11
Increased
25
Reduced
37
Closed
12

Top Buys

Rank Stock Value
1
FL
Foot Locker
FL
+$51.5M
2
MNK
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
+$43.3M
3
FLXN
Flexion Therapeutics, Inc.
FLXN
+$15.4M
4
ENDP
Endo International plc
ENDP
+$13.2M
5
AEO icon
American Eagle Outfitters
AEO
+$12.7M

Top Sells

Rank Stock Value
1
RH icon
RH
RH
+$45.1M
2
W icon
Wayfair
W
+$22.9M
3
STX icon
Seagate
STX
+$20.6M
4
HALO icon
Halozyme
HALO
+$10.6M
5
PHM icon
Pultegroup
PHM
+$7.86M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 22.94%
2 Healthcare 19.64%
3 Financials 18.25%
4 Industrials 10.94%
5 Communication Services 7.96%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CMG icon
101
Chipotle Mexican Grill
CMG
$46.7B
$326K 0.01%
53,000
– –
CELG
102
DELISTED
Celgene Corp
CELG
$321K 0.01%
2,200
– –
NBR icon
103
Nabors Industries
NBR
$1.37B
$316K 0.01%
784
+445
+131% +$163K
FOSL icon
104
Fossil Group
FOSL
$332M
$303K 0.01%
+32,430
New +$304K
GNC
105
DELISTED
GNC Holdings, Inc.
GNC
$302K 0.01%
34,145
+3,150
+10% +$28.3K
CLF icon
106
Cleveland-Cliffs
CLF
$6.43B
$236K 0.01%
33,051
+2,825
+9% +$21.1K
RFP
107
DELISTED
Resolute Forest Products Inc.
RFP
$206K 0.01%
40,854
+2,935
+8% +$13.8K
AFSI
108
DELISTED
AmTrust Financial Services, Inc.
AFSI
$202K 0.01%
15,000
– –
OBE
109
Obsidian Energy
OBE
$797M
$133K 0.01%
18,035
+1,143
+7% +$8.46K
GM icon
110
General Motors
GM
$77.2B
$118K 0.01%
+2,929
New +$107K
RT
111
DELISTED
Ruby Tuesday Georgia
RT
$95K ﹤0.01%
44,390
-13,650
-24% -$28.2K
AVP
112
DELISTED
Avon Products, Inc.
AVP
$72K ﹤0.01%
30,841
+12,300
+66% +$36.5K
CHK
113
DELISTED
Chesapeake Energy Corporation
CHK
$71K ﹤0.01%
+83
New +$71.3K
SND icon
114
Smart Sand
SND
$206M
$68K ﹤0.01%
10,000
– –
DBRG icon
115
DigitalBridge
DBRG
$2.95B
– –
-84,875
Closed -$4.78M
FTAI icon
116
FTAI Aviation
FTAI
$21.5B
– –
-345,201
Closed -$4.7M
GNW icon
117
CALL
Genworth Financial
GNW
$3.73B
– –
-2,489,000
Closed -$9.38M
MT icon
118
ArcelorMittal
MT
$54.4B
– –
-11,583
Closed -$263K
OCSL icon
119
Oaktree Specialty Lending
OCSL
$1.14B
– –
-233,333
Closed -$3.4M
STX icon
120
Seagate
STX
$193B
– –
-532,362
Closed -$20.6M
TMHC
121
DELISTED
Taylor Morrison
TMHC
– –
-36,000
Closed -$864K
UNIT
122
Uniti Group
UNIT
$2.42B
– –
-33,940
Closed -$853K
AVTA
123
DELISTED
Avantax, Inc. Common Stock
AVTA
– –
-40,000
Closed -$848K
SVU
124
DELISTED
SUPERVALU Inc.
SVU
– –
-6,762
Closed -$156K
PNK
125
DELISTED
Pinnacle Entertainment Inc.
PNK
– –
-30,000
Closed -$593K
2 3 4
5
6

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Bill Miller's Q3 2017 Portfolio in Review

As of Q3 2017, Bill Miller held 126 positions worth $2.33B, down 5.7% from $2.47B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Bill Miller's Q3 2017 filing shows 11 new, 25 increased, 37 reduced and 12 closed positions. Its largest new stake was MALLINCKRODT PUBLIC LIMITED COMPANY: 1,089,875 shares worth $40.7M. The largest sale was RH, an estimated $45.1M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 23% of assets, up from 22% a quarter earlier, followed by Healthcare and Financials.

  • Bill Miller's largest Q3 2017 buy was MALLINCKRODT PUBLIC LIMITED COMPANY: 1,089,875 shares worth $40.7M.
  • Bill Miller added most to Foot Locker in Q3 2017, an estimated $51.5M increase.
  • Bill Miller's biggest Q3 2017 reduction was RH, cutting an estimated $45.1M.
  • Bill Miller fully exited Seagate in Q3 2017, selling an estimated $20.6M.
  • Bill Miller's ten largest holdings make up 40% of its $2.33B portfolio in Q3 2017.
  • Bill Miller opened 11 new positions and closed 12 in Q3 2017.
  • Bill Miller's portfolio value fell 5.7% quarter-over-quarter to $2.33B.

Based on Miller Value Partners's 13F filing for Q3 2017, filed 14 Nov 2017.