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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
-21.16%
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
$1.97B
AUM Growth
-$1.14B
Cap. Flow
-$463M
Cap. Flow %
-23.5%
Top 10 Hldgs %
43.67%
Holding
142
New
16
Increased
29
Reduced
43
Closed
23

Top Buys

Rank Stock Value
1
EXPE icon
Expedia Group
EXPE
+$87.3M
2
UAL icon
United Airlines
UAL
+$52.1M
3
OMF icon
OneMain Financial
OMF
+$12.9M
4
CLF icon
Cleveland-Cliffs
CLF
+$9.51M
5
ET icon
Energy Transfer Partners
ET
+$9.16M

Top Sells

Rank Stock Value
1
TVTY
Tivity Health, Inc. Common Stock
TVTY
+$92.7M
2
HLF icon
Herbalife
HLF
+$61.2M
3
WW
WW International
WW
+$42.3M
4
TUP
Tupperware Brands Corporation
TUP
+$29.1M
5
ADT icon
ADT
ADT
+$17.5M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 25.36%
2 Financials 13.54%
3 Technology 13.03%
4 Energy 11.19%
5 Industrials 9.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NOV icon
101
CALL
NOV
NOV
$7.28B
$169K 0.01%
10,000
– –
BAC icon
102
CALL
Bank of America
BAC
$431B
$156K 0.01%
+5,000
New +$180K
DM
103
CALL
DELISTED
Desktop Metal, Inc.
DM
$154K 0.01%
7,000
– –
VALE icon
104
CALL
Vale
VALE
$62.1B
$146K 0.01%
10,000
-10,000
-50% -$171K
TPC
105
Tutor Perini Cor
TPC
$4.8B
$141K 0.01%
16,100
-1,250
-7% -$12.1K
JXN icon
106
CALL
Jackson Financial
JXN
$8.8B
$134K 0.01%
+5,000
New +$182K
ET icon
107
CALL
Energy Transfer Partners
ET
$73B
$100K 0.01%
10,000
-10,000
-50% -$112K
RIG icon
108
CALL
Transocean
RIG
$6.61B
$100K 0.01%
30,000
+10,000
+50% +$40.5K
SFIX
109
CALL
Stitch Fix
SFIX
$446M
$99K 0.01%
20,000
+10,000
+100% +$83.6K
UP.WS
110
DELISTED
Wheels Up Experience Inc. Redeemable Warrants, each warrant exercisable for 1/10th of a share of Common Stock at an exercise price of $115.00 per whole share of Common Stock
UP.WS
$90K ﹤0.01%
250,000
– –
OPEN icon
111
Opendoor
OPEN
$3.43B
$61K ﹤0.01%
13,433
– –
ME
112
CALL
DELISTED
23andMe Holding Co
ME
$50K ﹤0.01%
1,000
– –
TAL icon
113
TAL Education Group
TAL
$6.28B
$49K ﹤0.01%
10,000
– –
VIP
114
Vulcan Infrastructure and Power
VIP
$33.7M
$25K ﹤0.01%
+1,000
New +$56.2K
VRM icon
115
CALL
Vroom Inc
VRM
$53.8M
$25K ﹤0.01%
250
– –
SDIG
116
DELISTED
Stronghold Digital Mining, Inc. Class A Common Stock
SDIG
$17K ﹤0.01%
1,000
-78,844
-99% -$2.5M
DS
117
DELISTED
Drive Shack Inc.
DS
$14K ﹤0.01%
+10,000
New +$14.3K
TMCWW
118
TMC The Metals Company Warrants
TMCWW
$278K
$2K ﹤0.01%
10,000
– –
CG icon
119
Carlyle Group
CG
$17.6B
– –
-88,000
Closed -$4.3M
CIM
120
Chimera Investment
CIM
$964M
– –
-113,800
Closed -$4.11M
EBAY icon
121
eBay
EBAY
$46.3B
– –
-26,000
Closed -$1.49M
EDU icon
122
New Oriental
EDU
$8.88B
– –
-1,000
Closed -$11K
HLF icon
123
Herbalife
HLF
$1.33B
– –
-2,017,144
Closed -$61.2M
JD icon
124
JD.com
JD
$39.7B
– –
-10,014
Closed -$578K
MFA
125
MFA Financial
MFA
$901M
– –
-193,463
Closed -$3.12M
2 3 4
5
6

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Bill Miller's Q2 2022 Portfolio in Review

As of Q2 2022, Bill Miller held 142 positions worth $1.97B, down 37% from $3.11B the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Bill Miller withdrew a net $463M in Q2 2022, closing 23 positions and reducing 43 holdings. Its most notable exit was Tivity Health, Inc. Common Stock, an estimated $92.7M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 25% of assets, up from 21% a quarter earlier, followed by Financials and Technology.

Against the trend, Bill Miller opened a new position in Expedia Group worth $58.5M.

  • Bill Miller's largest Q2 2022 buy was Expedia Group: 616,668 shares worth $58.5M.
  • Bill Miller added most to OneMain Financial in Q2 2022, an estimated $12.9M increase.
  • Bill Miller's biggest Q2 2022 reduction was Tupperware Brands Corporation, cutting an estimated $29.1M.
  • Bill Miller fully exited Tivity Health, Inc. Common Stock in Q2 2022, selling an estimated $92.7M.
  • Bill Miller's ten largest holdings make up 44% of its $1.97B portfolio in Q2 2022.
  • Bill Miller opened 16 new positions and closed 23 in Q2 2022.
  • Bill Miller's portfolio value fell 37% quarter-over-quarter to $1.97B.

Based on Miller Value Partners's 13F filing for Q2 2022, filed 15 Aug 2022.