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 |
SFIX
Stitch Fix
SFIX
|
+$25.5M |
| 2 |
SI
Silvergate Capital Corporation
SI
|
+$22.1M |
| 3 |
Expedia Group
EXPE
|
+$18.8M |
| 4 |
SoFi Technologies
SOFI
|
+$18.3M |
| 5 |
FTCH
Farfetch Limited Class A Ordinary Shares
FTCH
|
+$16.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
DXC Technology
DXC
|
+$28.2M |
| 2 |
ADT
ADT
|
+$28.1M |
| 3 |
Alibaba
BABA
|
+$17.7M |
| 4 |
Diamondback Energy
FANG
|
+$16.9M |
| 5 |
SPLK
Splunk Inc
SPLK
|
+$16.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 28.92% |
| 2 | Financials | 16.78% |
| 3 | Energy | 12.78% |
| 4 | Technology | 11.21% |
| 5 | Industrials | 10.84% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
CALL
Vroom Inc
VRM
$53.8M
| – | – |
-250
| Closed | -$25K |
|
127
CALL
Viatris
VTRS
$18.7B
| – | – |
-25,000
| Closed | -$262K |
|
|
WBA
128
CALL
DELISTED
Walgreens Boots Alliance
WBA
| – | – |
-20,000
| Closed | -$758K |
|
129
Western Midstream Partners
WES
$20B
| – | – |
-46,300
| Closed | -$1.13M |
|
130
CALL
Zillow
ZG
$8.27B
| – | – |
-12,500
| Closed | -$398K |
|
|
ME
131
CALL
DELISTED
23andMe Holding Co
ME
| – | – |
-1,000
| Closed | -$50K |
|
|
HMPT
132
DELISTED
Home Point Capital, Inc Common Stock
HMPT
| – | – |
-1,014,045
| Closed | -$3.98M |
|
|
SDIG
133
DELISTED
Stronghold Digital Mining, Inc. Class A Common Stock
SDIG
| – | – |
-1,000
| Closed | -$17K |
|
|
BBBY
134
DELISTED
Bed Bath & Beyond Inc
BBBY
| – | – |
-136,150
| Closed | -$677K |
|
|
ENDP
135
DELISTED
Endo International plc
ENDP
| – | – |
-1,045,525
| Closed | -$487K |
|
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Bill Miller's Q3 2022 Portfolio in Review
As of Q3 2022, Bill Miller held 136 positions worth $1.65B, down 16% from $1.97B the previous quarter. Its ten largest holdings account for 42% of the portfolio.
Bill Miller withdrew a net $238M in Q3 2022, closing 44 positions and reducing 35 holdings. Its most notable exit was Precigen, an estimated $7.5M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 29% of assets, up from 25% a quarter earlier, followed by Financials and Energy.
Against the trend, Bill Miller opened a new position in Stitch Fix worth $17.7M.
- Bill Miller's largest Q3 2022 buy was Stitch Fix: 4,484,363 shares worth $17.7M.
- Bill Miller added most to Expedia Group in Q3 2022, an estimated $18.8M increase.
- Bill Miller's biggest Q3 2022 reduction was DXC Technology, cutting an estimated $28.2M.
- Bill Miller fully exited Precigen in Q3 2022, selling an estimated $7.5M.
- Bill Miller's ten largest holdings make up 42% of its $1.65B portfolio in Q3 2022.
- Bill Miller opened 18 new positions and closed 44 in Q3 2022.
- Bill Miller's portfolio value fell 16% quarter-over-quarter to $1.65B.
Based on Miller Value Partners's 13F filing for Q3 2022, filed 14 Nov 2022.