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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
GNW icon
1
Genworth Financial
GNW
$3.73B
$73.9M 4.45%
5,773,975
+28,075
+0.5% +$352K
MTG icon
2
MGIC Investment
MTG
$6.34B
$64.3M 3.87%
8,831,425
+193,725
+2% +$1.38M
DAL icon
3
Delta Air Lines
DAL
$54.2B
$64.1M 3.86%
2,717,275
-125,525
-4% -$2.62M
NFLX icon
4
Netflix
NFLX
$331B
$63M 3.8%
14,262,500
-1,130,500
-7% -$4.36M
GRPN icon
5
Groupon
GRPN
$797M
$62M 3.74%
276,545
-67,870
-20% -$13.5M
BAC icon
6
Bank of America
BAC
$431B
$54.7M 3.29%
3,962,875
+135,975
+4% +$1.94M
BYD icon
7
Boyd Gaming
BYD
$5.87B
$51.3M 3.09%
3,623,200
+124,400
+4% +$1.53M
UAL icon
8
United Airlines
UAL
$36.7B
$50.4M 3.04%
1,641,575
+1,475
+0.1% +$47.5K
PHM icon
9
Pultegroup
PHM
$24.6B
$49.5M 2.98%
3,000,650
+540,550
+22% +$9.22M
P
10
DELISTED
Pandora Media Inc
P
$48.4M 2.91%
1,924,600
-374,600
-16% -$7.67M
LCC
11
DELISTED
US AIRWAYS GROUP INC.
LCC
$47.2M 2.85%
2,490,975
+85,575
+4% +$1.51M
STX icon
12
Seagate
STX
$193B
$45.3M 2.73%
1,035,200
+51,150
+5% +$2.15M
HIG icon
13
Hartford Financial Services
HIG
$36.9B
$44M 2.65%
1,415,250
+48,550
+4% +$1.52M
C icon
14
Citigroup
C
$221B
$42.6M 2.56%
877,500
+30,100
+4% +$1.52M
BBY icon
15
Best Buy
BBY
$18.1B
$42.5M 2.56%
1,132,025
-43,375
-4% -$1.44M
JPM.WS
16
DELISTED
JPMorgan Chase
JPM.WS
$39.7M 2.39%
2,367,475
+81,275
+4% +$1.37M
AAPL icon
17
CALL
Apple
AAPL
$4.51T
$39.2M 2.36%
21,126,000
+504,000
+2% +$8.36M
QCOR
18
DELISTED
QUESTCOR PHARMA INC
QCOR
$37.8M 2.27%
651,000
+22,300
+4% +$1.33M
AGO icon
19
Assured Guaranty
AGO
$3.27B
$37.2M 2.24%
1,981,425
+68,025
+4% +$1.44M
EFC
20
Ellington Financial
EFC
$1.76B
$36.8M 2.22%
1,636,472
+37,525
+2% +$841K
AAPL icon
21
Apple
AAPL
$4.51T
$35.6M 2.14%
2,089,360
+98,840
+5% +$1.64M
AMZN icon
22
Amazon
AMZN
$2.79T
$35.4M 2.13%
2,265,100
+77,700
+4% +$1.16M
CI icon
23
Cigna
CI
$73.3B
$34.8M 2.1%
452,850
+15,450
+4% +$1.21M
LEN icon
24
Lennar Class A
LEN
$21B
$32.9M 1.98%
975,840
+206,199
+27% +$6.69M
KBH icon
25
KB Home
KBH
$3.39B
$32.6M 1.96%
1,810,050
+388,650
+27% +$6.8M
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.