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MVP
Miller Value Partners Portfolio holdings
AUM
$423M
1-Year Est. Return
49.14%
This Fund
S&P 500
This Quarter
Est. Return
-6.28%
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
$2.24B
AUM Growth
-$360M
(-14%)
Cap. Flow
-$293M
Cap. Flow
% of AUM
-13.08%
Top 10 Holdings %
Top 10 Hldgs %
54.31%
Holding
74
New
3
Increased
10
Reduced
37
Closed
9
Avg Time Held Equity + Options
8.3
quarters
Top 10 Avg Time Held Equity + Options
3.6
quarters
Top 20 Avg Time Held Equity + Options
5.9
quarters
Avg Time Held Equity only
8.4
quarters
Top 10 Avg Time Held Equity only
4.9
quarters
Top 20 Avg Time Held Equity only
6.2
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ENDP
Endo International plc
ENDP
|
+$36.2M |
| 2 |
Bausch Health
BHC
|
+$12M |
| 3 |
OneMain Financial
OMF
|
+$5.6M |
| 4 |
MGP
MGM Growth Properties LLC Class A common shares representing limited liability company interests
MGP
|
+$1.78M |
| 5 |
AAIC
Arlington Asset Investment Corp.
AAIC
|
+$1.68M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
KB Home
KBH
|
+$54.5M |
| 2 |
Apple
AAPL
|
+$39.5M |
| 3 |
Groupon
GRPN
|
+$26.4M |
| 4 |
Alibaba
BABA
|
+$22.9M |
| 5 |
General Motors
GM
|
+$16.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 33.07% |
| 2 | Financials | 14.61% |
| 3 | Consumer Discretionary | 14.6% |
| 4 | Healthcare | 10.46% |
| 5 | Communication Services | 8.61% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
51
Apollo Global Management
APO
$68.2B
| $2.04M | 0.09% |
135,000
| – | – |
2013 Q2
12 quarters
|
|
|
MGP
52
DELISTED
MGM Growth Properties LLC Class A common shares representing limited liability company interests
MGP
| $2M | 0.09% |
+75,000
| New | +$1.78M |
2016 Q2
0 quarters
|
|
53
BGC Group
BGC
$5.34B
| $1.97M | 0.09% |
352,052
| – | – |
2013 Q2
12 quarters
|
|
|
CYS
54
DELISTED
CYS Investments Inc.
CYS
| $1.93M | 0.09% |
230,000
-20,000
| -8% | -$164K |
2013 Q3
11 quarters
|
|
|
OCIP
55
DELISTED
OCI Partners LP
OCIP
| $1.83M | 0.08% |
242,000
| – | – |
2013 Q4
10 quarters
|
|
|
AAIC
56
DELISTED
Arlington Asset Investment Corp.
AAIC
| $1.69M | 0.08% |
+130,000
| New | +$1.68M |
2016 Q2
0 quarters
|
|
|
JMP
57
DELISTED
JMP Group LLC
JMP
| $1.63M | 0.07% |
300,000
| – | – |
2015 Q3
3 quarters
|
|
|
FTR
58
DELISTED
Frontier Communications Corp.
FTR
| $1.61M | 0.07% |
21,667
| – | – |
2015 Q2
4 quarters
|
|
59
Compass Diversified
CODI
$824M
| $1.49M | 0.07% |
90,000
| – | – |
2013 Q2
12 quarters
|
|
60
TriplePoint Venture Growth BDC
TPVG
$182M
| $1.3M | 0.06% |
122,711
+8,445
| +7% | +$88.8K |
2014 Q1
9 quarters
|
|
|
MVC
61
DELISTED
MVC Capital, Inc.
MVC
| $1.15M | 0.05% |
142,600
| – | – |
2013 Q4
10 quarters
|
|
62
Carlyle Group
CG
$13.2B
| $1.14M | 0.05% |
70,000
| – | – |
2016 Q1
1 quarter
|
|
63
Uniti Group
UNIT
$1.63B
| $981K | 0.04% |
33,940
| – | – |
2015 Q2
4 quarters
|
|
|
64
Apple
AAPL
$5T
| $820K | 0.04% |
34,320
-1,589,800
| -98% | -$39.5M |
2013 Q2
12 quarters
|
|
65
Calumet Specialty Products
CLMT
$5.17B
| – | – |
-125,000
| Closed | -$1.47M | – |
|
|
66
General Motors
GM
$74B
| – | – |
-532,625
| Closed | -$16.7M | – |
|
|
67
Groupon
GRPN
$743M
| – | – |
-331,250
| Closed | -$26.4M | – |
|
|
68
KB Home
KBH
$2.54B
| – | – |
-3,817,400
| Closed | -$54.5M | – |
|
69
Oaktree Specialty Lending
OCSL
$1.02B
| – | – |
-10,000
| Closed | -$151K | – |
|
70
DELISTED
Iridium Communications Inc - 6.75% Series B
IRDMB
| – | – |
-2,600
| Closed | -$763K | – |
|
|
HTS
71
DELISTED
HATTERAS FINANCIAL CORP
HTS
| – | – |
-200,000
| Closed | -$2.86M | – |
|
|
CMO
72
DELISTED
Capstead Mortgage Corp.
CMO
| – | – |
-105,000
| Closed | -$1.04M | – |
|
|
MTGE
73
DELISTED
MTGE Investment Corp. Common Stock
MTGE
| – | – |
-52,000
| Closed | -$764K | – |
|
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Miller Value Partners's Q2 2016 Portfolio in Review
As of Q2 2016, Miller Value Partners held 74 positions worth $2.24B, down 14% from $2.6B the previous quarter. Its ten largest holdings account for 54% of the portfolio.
Miller Value Partners withdrew a net $293M in Q2 2016, closing 9 positions and reducing 37 holdings. Its most notable exit was KB Home, an estimated $54.5M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 33% of assets, up from 24% a quarter earlier, followed by Financials and Consumer Discretionary.
Against the trend, Miller Value Partners opened a new position in Endo International plc worth $27.2M.
- Miller Value Partners's largest Q2 2016 buy was Endo International plc: 1,745,475 shares worth $27.2M.
- Miller Value Partners added most to Bausch Health in Q2 2016, an estimated $12M increase.
- Miller Value Partners's biggest Q2 2016 reduction was Apple, cutting an estimated $39.5M.
- Miller Value Partners fully exited KB Home in Q2 2016, selling an estimated $54.5M.
- Miller Value Partners's ten largest holdings make up 54% of its $2.24B portfolio in Q2 2016.
- Miller Value Partners opened 3 new positions and closed 9 in Q2 2016.
- Miller Value Partners's portfolio value fell 14% quarter-over-quarter to $2.24B.
Based on Miller Value Partners's 13F filing for Q2 2016, filed 15 Aug 2016.