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 |
Chord Energy
CHRD
|
+$5.57M |
| 2 |
Lincoln National
LNC
|
+$5.5M |
| 3 |
Boise Cascade
BCC
|
+$4.73M |
| 4 |
UGI
UGI
|
+$4.01M |
| 5 |
Bristol-Myers Squibb
BMY
|
+$3.06M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ProShares UltraPro S&P 500
UPRO
|
+$10.2M |
| 2 |
MPT
Medical Properties Trust
MPT
|
+$4.87M |
| 3 |
H&R Block
HRB
|
+$3.05M |
| 4 |
WIRE
Encore Wire Corp
WIRE
|
+$3.02M |
| 5 |
The GEO Group
GEO
|
+$2.84M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 27.51% |
| 2 | Consumer Discretionary | 13.29% |
| 3 | Communication Services | 12.45% |
| 4 | Industrials | 10.11% |
| 5 | Energy | 9.43% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Stellantis
STLA
$20.4B
| $12.2M | 7.78% |
430,000
-66,000
| -13% | -$1.64M |
|
2
AT&T
T
$173B
| $10.3M | 6.62% |
588,000
+36,000
| +7% | +$615K |
|
3
Jackson Financial
JXN
$8.8B
| $10.1M | 6.45% |
152,610
-47,145
| -24% | -$2.56M |
|
4
Bread Financial
BFH
$4.07B
| $9.49M | 6.07% |
254,770
-53,095
| -17% | -$1.88M |
|
5
Western Alliance Bancorporation
WAL
$8.69B
| $9.26M | 5.92% |
144,305
-30,335
| -17% | -$1.86M |
|
6
OneMain Financial
OMF
$7.27B
| $7.82M | 5% |
153,000
-9,000
| -6% | -$430K |
|
7
Quad
QUAD
$532M
| $7.59M | 4.86% |
1,430,300
-170,450
| -11% | -$921K |
|
|
CTO
8
CTO Realty Growth
CTO
$817M
| $7.52M | 4.81% |
443,900
+15,000
| +3% | +$252K |
|
9
Viatris
VTRS
$18.7B
| $7.39M | 4.73% |
619,000
-92,500
| -13% | -$1.11M |
|
|
10
Lincoln National
LNC
$8.07B
| $6.35M | 4.06% |
+198,990
| New | +$5.5M |
|
|
11
Chord Energy
CHRD
$8.09B
| $6.18M | 3.95% |
+34,670
| New | +$5.57M |
|
|
12
Boise Cascade
BCC
$2.88B
| $6.13M | 3.92% |
40,000
+35,000
| +700% | +$4.73M |
|
13
Buckle
BKE
$2.26B
| $6.04M | 3.86% |
150,000
-15,000
| -9% | -$590K |
|
|
TDAY
14
USA Today Co
TDAY
$950M
| $6.02M | 3.85% |
2,468,575
-25,450
| -1% | -$57.2K |
|
15
Nabors Industries
NBR
$1.37B
| $6.01M | 3.84% |
69,761
+4,150
| +6% | +$340K |
|
|
16
UGI
UGI
$8.06B
| $4.1M | 2.62% |
+167,000
| New | +$4.01M |
|
|
17
Bristol-Myers Squibb
BMY
$137B
| $3.25M | 2.08% |
+60,000
| New | +$3.06M |
|
|
TPC
18
Tutor Perini Cor
TPC
$4.8B
| $3.1M | 1.98% |
214,560
-14,155
| -6% | -$145K |
|
19
Gray Television
GTN
$509M
| $3.09M | 1.98% |
489,188
+85,140
| +21% | +$651K |
|
|
WIRE
20
DELISTED
Encore Wire Corp
WIRE
| $2.89M | 1.85% |
11,000
-13,300
| -55% | -$3.02M |
|
21
Conduent
CNDT
$250M
| $2.43M | 1.55% |
718,600
-6,000
| -0.8% | -$20.8K |
|
22
Alliance Resource Partners
ARLP
$3.38B
| $2.35M | 1.5% |
117,000
-32,000
| -21% | -$652K |
|
|
23
The GEO Group
GEO
$4.31B
| $2.05M | 1.31% |
145,000
-238,000
| -62% | -$2.84M |
|
|
DCH
24
Dauch Corp
DCH
$1.63B
| $1.46M | 0.93% |
198,355
-10,210
| -5% | -$77K |
|
25
Fossil Group
FOSL
$332M
| $1.11M | 0.71% |
1,091,750
+93,925
| +9% | +$105K |
|
Similar funds
Bill Miller's Q1 2024 Portfolio in Review
As of Q1 2024, Bill Miller held 47 positions worth $156M, down 7.1% from $168M the previous quarter. Its ten largest holdings account for 60% of the portfolio.
Bill Miller withdrew a net $32.5M in Q1 2024, closing 17 positions and reducing 18 holdings. Its most notable exit was ProShares UltraPro S&P 500, an estimated $10.2M position sold in full.
By sector, the portfolio is most concentrated in Financials at 28% of assets, up from 24% a quarter earlier, followed by Consumer Discretionary and Communication Services.
Against the trend, Bill Miller opened a new position in Chord Energy worth $6.18M.
- Bill Miller's largest Q1 2024 buy was Chord Energy: 34,670 shares worth $6.18M.
- Bill Miller added most to Boise Cascade in Q1 2024, an estimated $4.73M increase.
- Bill Miller's biggest Q1 2024 reduction was Encore Wire Corp, cutting an estimated $3.02M.
- Bill Miller fully exited ProShares UltraPro S&P 500 in Q1 2024, selling an estimated $10.2M.
- Bill Miller's ten largest holdings make up 60% of its $156M portfolio in Q1 2024.
- Bill Miller opened 5 new positions and closed 17 in Q1 2024.
- Bill Miller's portfolio value fell 7.1% quarter-over-quarter to $156M.
Based on Miller Value Partners's 13F filing for Q1 2024, filed 7 May 2024.