WhaleCreep

Miller Value Partners (Bill Miller) 13F holdings, Q1 2021

Long-only investorSEC filingsCompare with another fundHoldings as of 2021-03-31, filed 2021-05-17

Miller Value Partners (Bill Miller) disclosed 94 US equity positions worth $3.5bn in its Q1 2021 13F filing. Its largest position is DXC at 4.7% of the reported book, followed by OMF and FTCHQ. Versus Q4 2020 it opened 17 new positions, added to 25, reduced 42 and exited 8.

$3.5bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
94
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
4.7%
Largest position
The largest single position as a share of the reported equity book.
33.7%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
40
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 2020: 17 new, 25 added, 42 reduced, 8 exited

50 of 94
DXC DXC TECHNOLOGY COTechnology4.7%$164m5.24m−2.1%reduced
OMF ONEMAIN HLDGS INCFinancial Services3.6%$127m2.37m−2.1%reduced
FTCHQ FARFETCH LTDConsumer Cyclical3.5%$124m2.34m−3.1%reduced
TEVA TEVA PHARMACEUTICAL INDS LTDHealthcare3.5%$122m10.55m+48%added
AMZN AMAZON COM INCConsumer Cyclical3.4%$121m39,060−0.7%reduced
ADT ADT INCIndustrials3.1%$110m13.05m+4.1%added
NCLH NORWEGIAN CRUISE LINE HLDGSConsumer Cyclical3.0%$107m3.87m+48%added
VRMUSD VROOM INC–3.0%$105m2.70m+29%added
QUOTUSD QUOTIENT TECHNOLOGY INC–2.9%$103m6.33m−1.4%reduced
BHC BAUSCH HEALTH COS INCHealthcare2.9%$103m3.24m−5.4%reduced
AYI ACUITY INCIndustrials2.9%$102m620,725−5.4%reduced
FANG DIAMONDBACK ENERGY INCEnergy2.9%$100m1.37m+135%added
GM General Motors CorpConsumer Cyclical2.8%$96.9m1.69m–new
TMHC* TAYLOR MORRISON HOME CORP–2.7%$95.8m3.11m−4.1%reduced
META META PLATFORMS INCCommunication Services2.7%$95.3m323,532−8.7%reduced
BABA ALIBABA GROUP HLDG LTDConsumer Cyclical2.7%$94.4m416,484+5.7%added
WW6 WW INTL INC–2.7%$93.6m2.99m+14%added
DESKTOP METAL INC no ticker–2.5%$88.3m5.92m−25%reduced
GOOGL ALPHABET INCCommunication Services2.4%$83.4m40,455−1.6%reduced
COF CAPITAL ONE FINL CORPFinancial Services2.4%$82.9m651,507−6.1%reduced
HWAYEUR TIVITY HEALTH INC–2.2%$79.2m3.55m+17%added
REAL THE REALREAL INCConsumer Cyclical2.2%$78.7m3.48m−8.6%reduced
BAC BANK OF AMER CORPFinancial Services2.0%$71.2m1.84m−0.1%held
GOOS CANADA GOOSE HLDGS INCConsumer Cyclical2.0%$70.8m1.80m−5.1%reduced
SFIX STITCH FIX INCConsumer Cyclical2.0%$70.2m1.42m−33%reduced
RKT ROCKET COS INCFinancial Services2.0%$69.6m3.01m−18%reduced
DAL DELTA AIR LINES INCIndustrials2.0%$69.3m1.43m−1.0%reduced
JPM JPMORGAN CHASE & COFinancial Services1.9%$68.2m448,126−0.1%held
ET ENERGY TRANSFER LPEnergy1.9%$66.7m8.69m+12%added
UBER UBER TECHNOLOGIES INCTechnology1.8%$64.9m1.19m−3.4%reduced
PGEN PRECIGEN INCHealthcare1.8%$62.7m9.10m+28%added
CC CHEMOURS COBasic Materials1.8%$62.5m2.24m−0.9%reduced
VNT VONTIER CORPORATIONTechnology1.7%$58.3m1.93m–new
BA BOEING COIndustrials1.6%$55.4m217,533−0.7%reduced
WDAY WORKDAY INCTechnology1.4%$51.0m205,473+3.0%added
C CITIGROUP INCFinancial Services1.4%$50.9m699,524−8.2%reduced
TCRT ALAUNOS THERAPEUTICS INCHealthcare1.2%$42.6m11.83m−5.1%reduced
DISCAUSD DISCOVERY INC–1.1%$38.8m891,875−48%reduced
FLEXION THERAPEUTICS INC no ticker–1.0%$36.7m4.10m−2.2%reduced
KRTX KARUNA THERAPEUTICS INC–1.0%$35.0m291,239–new
RBLX ROBLOX CORPCommunication Services0.5%$16.6m256,715–new
GTY TECHNOLOGY HOLDINGS INC no ticker–0.4%$12.5m1.96m+0.2%held
APOEUR APOLLO GLOBAL MGMT INC–0.3%$12.0m256,285+3.8%added
GORES HOLDINGS VI INC no ticker–0.3%$11.9m813,608–new
CHS1USD CHICOS FAS INC–0.3%$10.6m3.20m−24%reduced
ATLAS CORP no ticker–0.3%$10.3m751,379−32%reduced
HRB BLOCK H & R INCConsumer Cyclical0.3%$9.2m420,000–new
CHIMERA INVT CORP no ticker–0.3%$8.9m704,400+70%added
PBI PITNEY BOWES INCIndustrials0.2%$8.4m1.02m−26%reduced
UPRO PROSHARES TR–0.2%$8.3m91,8000.0%held

Exited since Q4 2020

8 rows
NFLX NETFLIX INC.1.2%$35.3m
GNW GENWORTH FINL INC0.9%$27.6m
INSU ACQUISITION CORP II no ticker0.4%$11.7m
GME GAMESTOP CORP0.07%$2.2m
MSGN MSG NETWORK INC0.03%$914k
ANF ABERCROMBIE & FITCH CO0.02%$509k
MAXRUSD MAXAR TECHNOLOGIES INC0.01%$340k
CVS CVS HEALTH CORP0.0%$130k

Sector mix

  • Unclassified22.3%
  • Consumer Cyclical22.1%
  • Financial Services13.8%
  • Industrials10.1%
  • Technology9.8%
  • Healthcare9.6%
  • Communication Services5.7%
  • Energy5.0%
  • Basic Materials1.8%
  • Real Estate0.01%

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