WhaleCreep

Miller Value Partners (Bill Miller) 13F holdings, Q1 2020

Long-only investorSEC filingsCompare with another fundHoldings as of 2020-03-31, filed 2020-05-15

Miller Value Partners (Bill Miller) disclosed 73 US equity positions worth $1.6bn in its Q1 2020 13F filing. Its largest position is AMZN at 5.9% of the reported book, followed by TEVA and ADT. Versus Q4 2019 it opened 11 new positions, added to 25, reduced 30 and exited 28.

$1.6bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
73
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
5.9%
Largest position
The largest single position as a share of the reported equity book.
39.2%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
35
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
75
Quarters on file since Q4 2007
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q4 2019: 11 new, 25 added, 30 reduced, 28 exited

50 of 73
AMZN AMAZON COM INCConsumer Cyclical5.9%$91.7m47,048−22%reduced
TEVA TEVA PHARMACEUTICAL INDS LTDHealthcare4.6%$71.1m7.92m−19%reduced
ADT ADT INCIndustrials4.1%$63.4m14.67m−6.7%reduced
FTCHQ FARFETCH LTDConsumer Cyclical4.0%$62.4m7.90m+49%added
BABA ALIBABA GROUP HLDG LTDConsumer Cyclical3.8%$59.1m304,100+4.6%added
META META PLATFORMS INCCommunication Services3.8%$58.7m351,945−5.8%reduced
GOOGL ALPHABET INCCommunication Services3.7%$57.9m49,809+8202%added
LEN LENNAR CORPConsumer Cyclical3.1%$48.6m1.27m−15%reduced
ENDO INTL PLC no ticker–3.1%$48.4m13.08m−16%reduced
UAL UNITED AIRLINES HLDGS INCIndustrials3.1%$47.7m1.51m+200%added
GNW GENWORTH FINL INCFinancial Services3.1%$47.4m14.29m−23%reduced
QUOTUSD QUOTIENT TECHNOLOGY INC–3.0%$47.3m7.27m−2.3%reduced
MED MEDIFAST INCConsumer Cyclical2.9%$44.5m711,553−23%reduced
BHF BRIGHTHOUSE FINL INCFinancial Services2.9%$44.4m1.84m−18%reduced
BHC BAUSCH HEALTH COS INCHealthcare2.9%$44.3m2.86m−27%reduced
DAL DELTA AIR LINES INCIndustrials2.6%$41.0m1.44m+24%added
PTON PELOTON INTERACTIVE INCConsumer Cyclical2.6%$40.5m1.52m−30%reduced
NXPI NXP SEMICONDUCTORS N VTechnology2.6%$39.9m481,030−11%reduced
BAC BANK OF AMER CORPFinancial Services2.5%$39.2m1.85m+2.7%added
OMF ONEMAIN HLDGS INCFinancial Services2.4%$37.3m1.95m−20%reduced
JPM JPMORGAN CHASE & COFinancial Services2.3%$35.9m398,330−26%reduced
SFIX STITCH FIX INCConsumer Cyclical2.2%$34.8m2.74m+5.6%added
FLEXION THERAPEUTICS INC no ticker–2.1%$33.4m4.24m−14%reduced
BA BOEING COIndustrials2.1%$32.0m214,325–new
TCRT ALAUNOS THERAPEUTICS INCHealthcare2.0%$31.5m12.86m+1.0%added
DXC DXC TECHNOLOGY COTechnology2.0%$31.3m2.40m+28937%added
RH RHConsumer Cyclical1.9%$29.4m292,260−35%reduced
DISCAUSD DISCOVERY INC–1.8%$27.7m1.42m−10%reduced
C CITIGROUP INCFinancial Services1.7%$27.1m642,465−1.2%reduced
ET ENERGY TRANSFER LPEnergy1.7%$26.4m5.73m+420%added
PGEN PRECIGEN INCHealthcare1.6%$25.3m7.45m–new
CC CHEMOURS COBasic Materials1.6%$25.0m2.82m+709%added
HWAYEUR TIVITY HEALTH INC–1.5%$23.7m3.77m−1.2%reduced
GOOS CANADA GOOSE HLDGS INCConsumer Cyclical1.2%$18.0m904,980–new
TMHC* TAYLOR MORRISON HOME CORP–1.1%$17.7m1.61m–new
APOEUR APOLLO GLOBAL MGMT INC–0.8%$12.3m366,9000.0%held
PBI PITNEY BOWES INCIndustrials0.7%$10.4m5.09m−1.6%reduced
DBD DIEBOLD NIXDORF INCTechnology0.7%$10.3m2.92m+1158%added
SDCCQ SMILEDIRECTCLUB INC–0.6%$9.4m2.01m–new
GTY TECHNOLOGY HOLDINGS INC no ticker–0.6%$8.6m1.89m0.0%held
CG CARLYLE GROUP INCFinancial Services0.5%$8.3m384,900–new
CEDAR FAIR L P no ticker–0.3%$5.2m281,000+400%added
QUAD QUAD / GRAPHICS INCIndustrials0.3%$4.4m1.75m+29%added
TDAY USA TODAY CO INCCommunication Services0.3%$4.2m2.86m+1935%added
ANF ABERCROMBIE & FITCH COConsumer Cyclical0.3%$4.1m454,800−0.9%reduced
35OB SCULPTOR CAP MGMT–0.2%$2.8m207,2000.0%held
ATLAS CORP no ticker–0.2%$2.7m347,840–new
BGCPEUR BGC PARTNERS INC–0.1%$2.2m859,200−19%reduced
TWO HBRS INVT CORP no ticker–0.1%$1.7m456,700–new
CHS1USD CHICOS FAS INC–0.1%$1.7m1.34m+8.1%added

Exited since Q4 2019

28 rows
MU MICRON TECHNOLOGY INC3.1%$87.7m
AAL AMERICAN AIRLINES GROUP INC2.8%$77.5m
CVS CVS HEALTH CORP2.0%$56.4m
INTREXON CORP no ticker1.6%$46.1m
QCOM QUALCOMM INC1.6%$44.7m
EB4 EVENTBRITE INC1.6%$43.9m
ALXN ALEXION PHARMACEUTICALS INC1.5%$42.0m
AVPUSD AVON PRODS INC0.8%$22.6m
CARLYLE GROUP L P no ticker0.7%$18.5m
CHGG CHEGG INC0.6%$16.1m
WLHUSD LYON WILLIAM HOMES0.6%$15.7m
WD WALKER & DUNLOP INC0.3%$9.6m
CTLEUR CENTURYLINK INC0.3%$9.4m
SEASPAN CORP no ticker0.3%$8.5m
BCBEUR COTT CORP QUE0.3%$8.2m
CDEVEUR CENTENNIAL RESOURCE DEV INC0.2%$5.7m
MALLINCKRODT PUB LTD CO no ticker0.2%$5.6m
AIEUR ARLINGTON ASSET INVST CORP0.09%$2.5m
NCMI NATIONAL CINEMEDIA INC0.09%$2.4m
GRUBHUB INC no ticker0.03%$803k
TNA DIREXION SHS ETF TR0.03%$720k
CLDR CLOUDERA INC0.02%$465k
HALO HALOZYME THERAPEUTICS INC0.01%$355k
ALSK ALASKA COMMUNICATIONS SYS GR0.01%$265k
CYH COMMUNITY HEALTH SYS INC NEW0.0%$98.0k
GNCIQ GNC HLDGS INC0.0%$94.0k
NE NOBLE CORP PLC0.0%$41.0k
CHKEUR CHESAPEAKE ENERGY CORP0.0%$33.0k

Sector mix

  • Consumer Cyclical28.0%
  • Unclassified16.2%
  • Financial Services15.4%
  • Industrials12.8%
  • Healthcare11.1%
  • Communication Services7.8%
  • Technology5.3%
  • Energy1.8%
  • Basic Materials1.6%

Book over time

Every quarter on file (75)
QuarterPositionsEquity book
Q2 202656$423m
Q1 202655$383m
Q4 202534$284m
Q3 202536$272m
Q2 202533$236m
Q1 202534$219m
Q4 202433$234m
Q3 202430$177m
Q2 202429$157m
Q1 202430$156m
Q4 202342$168m
Q3 202346$159m
Q2 202346$152m
Q1 202390$1.6bn
Q4 202279$1.5bn
Q3 202287$1.6bn
Q2 202283$1.8bn
Q1 202289$2.6bn
Q4 202194$2.8bn
Q3 202196$2.9bn
Q2 2021100$3.8bn
Q1 202194$3.5bn
Q4 202085$3.0bn
Q3 202084$2.5bn
Q2 202078$2.3bn
Q1 202073$1.6bn
Q4 201990$2.8bn
Q3 201996$2.5bn
Q2 201995$2.5bn
Q1 2019100$2.5bn
Q4 2018100$2.2bn
Q3 2018108$3.1bn
Q2 2018109$2.7bn
Q1 2018107$2.3bn
Q4 2017107$2.3bn
Q3 2017106$2.2bn
Q2 2017110$2.2bn
Q1 201766$1.9bn
Q4 201657$1.9bn
Q3 201661$1.8bn
Q2 201662$1.5bn
Q1 201667$2.0bn
Q4 201580$2.6bn
Q3 201580$2.3bn
Q2 201588$2.6bn
Q1 201591$2.6bn
Q4 201494$2.6bn
Q3 2014113$2.4bn
Q2 2014113$2.5bn
Q1 2014110$2.5bn
Q4 2013104$2.2bn
Q3 201397$1.6bn
Q2 201398$1.4bn
Q1 201341$1.1bn
Q4 201238$884m
Q3 201239$796m
Q2 201238$898m
Q1 201239$994m
Q4 201143$828m
Q3 201138$773m
Q3 201139$1.3bn
Q2 201140$1.6bn
Q1 201138$1.7bn
Q4 201039$1.7bn
Q3 201034$1.5bn
Q1 201035$1.9bn
Q1 201034$1.7bn
Q3 200933$1.6bn
Q2 200929$1.2bn
Q1 200929$726m
Q4 200829$947m
Q3 200832$2.1bn
Q2 200836$2.7bn
Q1 200842$3.8bn
Q4 200747$4.9bn

Where Miller Value Partners (Bill Miller) was early

67 rows
AGO ASSURED GUARANTY LTDQ3 20081 of 1004.7%7.0%23Exited by Q4 2014+36%
BYD BOYD GAMING CORPQ3 20082 of 1410.9%3.6%28Exited by Q1 2016+112%
GNW GENWORTH FINL INCQ3 20083 of 1301.8%5.4%48Exited by Q1 2021−56%
PRU PRUDENTIAL FINL INCQ4 20082 of 1203.1%3.1%6Exited by Q4 2010+79%
HIG HARTFORD FINL SVCS GROUP INCQ4 20083 of 1243.0%6.3%22Exited by Q4 2014+127%
SLM SLM CORPQ4 20083 of 1222.9%3.3%7Exited by Q1 2011+41%
MS MORGAN STANLEYQ4 20084 of 1782.0%3.8%11Exited by Q3 2014+102%
MGM MGM RESORTS INTERNATIONALQ4 20085 of 2122.6%2.6%10Exited by Q4 2011−32%
AFL AFLAC INCQ2 20091 of 1193.2%3.2%5Exited by Q1 2011+82%
BAC BK OF AMERICA CORPQ2 200914 of 2327.3%7.3%47Exited by Q4 2022+129%
ARCC ARES CAP CORPQ3 20092 of 980.6%4.7%20Exited by Q1 2015+42%
MTG MGIC INVT CORP WISQ1 20106 of 1292.2%4.6%33Exited by Q3 2018−2.3%
STX SEAGATE TECHNOLOGY PLCQ4 20102 of 2040.4%3.7%27Exited by Q3 2017+158%
TER TERADYNE INCQ4 20102 of 1920.3%2.3%15Exited by Q3 2014+40%
MU MICRON TECHNOLOGY INCQ4 20103 of 3202.1%3.1%11Exited by Q1 2020+571%
UAL UNITED AIRLS HLDGS INCQ1 20111 of 1895.6%6.9%42Exited by Q2 2023+92%
GM GENERAL MTRS COQ1 20112 of 1691.0%2.9%27Exited by Q2 2023+18%
BSX BOSTON SCIENTIFIC CORPQ1 20114 of 1931.5%1.9%5Exited by Q3 2012−21%
INTC INTEL CORPQ3 201110 of 2804.5%4.5%5Exited by Q4 2012+6.2%
NXPI NXP SEMICONDUCTORS N VQ4 20113 of 2281.3%4.7%29Exited by Q4 2020+712%
HCA HCA HOLDINGS INCQ4 20115 of 2040.8%1.3%4Exited by Q4 2012+51%
AAPL APPLE INCQ1 201225 of 2755.6%5.8%25Exited by Q2 2018+96%
GRPN GROUPON INCQ2 20123 of 1283.4%4.1%16Exited by Q2 2016−62%
F FORD MTR CO DELQ4 20125 of 1812.3%2.3%8Exited by Q4 2014+14%
BBY BEST BUY INCQ4 20128 of 1331.4%2.7%11Exited by Q3 2015+175%
QUAD QUAD / GRAPHICS INCQ2 20131 of 580.04%7.5%39Held at last filing, Q2 2026−65%
OLED UNIVERSAL DISPLAY CORPQ2 20132 of 1421.5%1.6%6Exited by Q4 2014+16%
TMHC* TAYLOR MORRISON HOME CORPQ2 20132 of 1370.5%4.2%29Exited by Q2 2023+135%
ETRA E TRADE FINANCIAL CORPQ2 20133 of 941.7%2.0%11Exited by Q1 2016+134%
C CITIGROUP INCQ2 20134 of 2152.8%3.2%40Exited by Q2 2023−2.3%
PBI PITNEY BOWES INCQ2 20138 of 1060.06%1.5%32Exited by Q1 2025−51%
MSFT MICROSOFT CORPQ2 201310 of 3741.1%1.5%6Exited by Q4 2014+34%
AMZN AMAZON COM INCQ2 201312 of 3782.1%7.0%40Exited by Q2 2023+644%
AAL AMERICAN AIRLS GROUP INCQ4 201312 of 2382.9%5.0%25Exited by Q1 2020+14%
GME GAMESTOP CORP NEWQ1 20145 of 1242.0%2.8%28Exited by Q1 2021−54%
QCOM QUALCOMM INCQ1 201422 of 2463.4%3.4%14Exited by Q1 2020+12%
GILD GILEAD SCIENCES INCQ2 201416 of 1812.2%3.1%14Exited by Q4 2017−2.3%
BABA ALIBABA GROUP HLDG LTDQ3 201436 of 3770.09%5.2%32Exited by Q2 2023+15%
TCRT ZIOPHARM ONCOLOGY INCQ1 20151 of 631.2%2.2%26Exited by Q3 2021−75%
T86 TRI POINTE GROUP INCQ2 20156 of 1220.7%1.5%7Exited by Q1 2017−25%
OMF ONEMAIN HLDGS INCQ4 20152 of 1361.3%5.2%43Held at last filing, Q2 2026+47%
GEO GEO GROUP INC NEWQ3 20168 of 1280.1%2.5%19Exited by Q2 2024−11%
RH RHQ1 20171 of 2046.3%6.9%15Exited by Q4 2020+727%
W WAYFAIR INCQ1 201711 of 2412.8%4.0%6Exited by Q3 2018+193%
UPBD UPBOUND GROUP INCQ2 201710 of 1110.04%1.3%8Held at last filing, Q2 2026+81%
WOO FOOT LOCKER INCQ2 201712 of 1600.1%2.9%10Exited by Q2 2023−28%
CLF CLEVELAND-CLIFFS INC NEWQ3 201713 of 1730.01%2.7%22Exited by Q2 2024+218%
SFIX STITCH FIX INCQ4 20173 of 1221.6%4.2%21Exited by Q2 2023−80%
BHF BRIGHTHOUSE FINL INCQ2 20185 of 1411.3%3.7%15Exited by Q1 2022+29%
BHC BAUSCH HEALTH COS INCQ3 20184 of 1544.1%4.7%17Exited by Q4 2022−73%

Concentration and tenure

5.9%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
44.2%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
5
Median completed holding, quarters