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 |
Herbalife
HLF
|
+$82.8M |
| 2 |
MTTR
Matterport, Inc. Class A Common Stock
MTTR
|
+$56.6M |
| 3 |
TUP
Tupperware Brands Corporation
TUP
|
+$51.6M |
| 4 |
WW
WW International
WW
|
+$23.2M |
| 5 |
Alibaba
BABA
|
+$9.33M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Boeing
BA
|
+$48.2M |
| 2 |
DM
Desktop Metal, Inc.
DM
|
+$44.2M |
| 3 |
DXC Technology
DXC
|
+$39.5M |
| 4 |
Acuity Brands
AYI
|
+$33.5M |
| 5 |
OneMain Financial
OMF
|
+$32.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 16.59% |
| 2 | Financials | 12.29% |
| 3 | Technology | 9.55% |
| 4 | Healthcare | 8.11% |
| 5 | Industrials | 7.03% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
CALL
iShares 20+ Year Treasury Bond ETF
TLT
$45.5B
| $703M | 16.29% |
+4,868,500
| New | +$723M |
|
2
CALL
JD.com
JD
$39.7B
| $365M | 8.46% |
+5,053,000
| New | +$373M |
|
3
CALL
Amazon
AMZN
$2.79T
| $193M | 4.47% |
1,174,000
-130,000
| -10% | -$22.4M |
|
|
4
Amazon
AMZN
$2.79T
| $119M | 2.76% |
725,080
-76,940
| -10% | -$13.3M |
|
|
5
DXC Technology
DXC
$1.73B
| $118M | 2.74% |
3,509,419
-1,043,362
| -23% | -$39.5M |
|
|
SPLK
6
DELISTED
Splunk Inc
SPLK
| $109M | 2.53% |
754,847
-142,911
| -16% | -$20.8M |
|
7
Alphabet (Google) Class A
GOOGL
$4.22T
| $106M | 2.47% |
796,660
-26,000
| -3% | -$3.54M |
|
8
Meta Platforms (Facebook)
META
$1.4T
| $102M | 2.36% |
299,560
-32,725
| -10% | -$11.8M |
|
9
CALL
Uber
UBER
$161B
| $99.3M | 2.3% |
2,216,100
-250,500
| -10% | -$10.9M |
|
10
ADT
ADT
$5.39B
| $96.8M | 2.25% |
11,970,339
-1,690,113
| -12% | -$15.6M |
|
11
Norwegian Cruise Line
NCLH
$7.92B
| $96.1M | 2.23% |
3,596,467
-392,239
| -10% | -$9.98M |
|
12
Teva Pharmaceuticals
TEVA
$43.5B
| $94.9M | 2.2% |
9,748,129
-1,187,654
| -11% | -$11.1M |
|
13
Diamondback Energy
FANG
$59B
| $94.2M | 2.18% |
995,316
-280,908
| -22% | -$22.6M |
|
|
14
Alibaba
BABA
$286B
| $93.7M | 2.17% |
632,761
+51,281
| +9% | +$9.33M |
|
|
15
OneMain Financial
OMF
$7.27B
| $88.7M | 2.06% |
1,603,672
-564,753
| -26% | -$32.8M |
|
16
Bausch Health
BHC
$2.41B
| $83.4M | 1.93% |
2,995,889
-334,501
| -10% | -$9.49M |
|
|
TVTY
17
DELISTED
Tivity Health, Inc. Common Stock
TVTY
| $83.4M | 1.93% |
3,616,695
-122,834
| -3% | -$2.92M |
|
18
Capital One
COF
$134B
| $80.2M | 1.86% |
494,906
-129,751
| -21% | -$21.2M |
|
19
Energy Transfer Partners
ET
$73B
| $74.6M | 1.73% |
7,784,599
-918,421
| -11% | -$8.82M |
|
20
JPMorgan Chase
JPM
$935B
| $74M | 1.72% |
451,963
-2,163
| -0.5% | -$339K |
|
|
21
Herbalife
HLF
$1.33B
| $70.9M | 1.64% |
+1,673,421
| New | +$82.8M |
|
|
TMHC
22
DELISTED
Taylor Morrison
TMHC
| $70.9M | 1.64% |
2,750,552
-177,341
| -6% | -$4.7M |
|
23
General Motors
GM
$77.2B
| $69.7M | 1.62% |
1,321,687
-417,559
| -24% | -$22.2M |
|
|
FTCH
24
DELISTED
Farfetch Limited Class A Ordinary Shares
FTCH
| $69.5M | 1.61% |
1,853,901
-477,037
| -20% | -$21.1M |
|
25
Delta Air Lines
DAL
$54.2B
| $69M | 1.6% |
1,618,328
+182,750
| +13% | +$7.46M |
|
Similar funds
Bill Miller's Q3 2021 Portfolio in Review
As of Q3 2021, Bill Miller held 140 positions worth $4.31B, up 2.7% from $4.2B the previous quarter. Its ten largest holdings account for 47% of the portfolio.
Bill Miller deployed $665M of net new capital in Q3 2021, opening 16 new positions and adding to 25 existing holdings. Its largest new stake was Herbalife: 1,673,421 shares worth $70.9M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 17% of assets, down from 23% a quarter earlier, followed by Financials and Technology.
On the sell side, the largest reduction was DXC Technology, an estimated $39.5M trimmed.
- Bill Miller's largest Q3 2021 buy was Herbalife: 1,673,421 shares worth $70.9M.
- Bill Miller added most to Tupperware Brands Corporation in Q3 2021, an estimated $51.6M increase.
- Bill Miller's biggest Q3 2021 reduction was DXC Technology, cutting an estimated $39.5M.
- Bill Miller fully exited Boeing in Q3 2021, selling an estimated $48.2M.
- Bill Miller's ten largest holdings make up 47% of its $4.31B portfolio in Q3 2021.
- Bill Miller opened 16 new positions and closed 15 in Q3 2021.
- Bill Miller's portfolio value rose 2.7% quarter-over-quarter to $4.31B.
Based on Miller Value Partners's 13F filing for Q3 2021, filed 15 Nov 2021.