WhaleCreep

Miller Value Partners (Bill Miller) 13F holdings, Q4 2021

Long-only investorSEC filingsCompare with another fundHoldings as of 2021-12-31, filed 2022-02-14

Miller Value Partners (Bill Miller) disclosed 94 US equity positions worth $2.8bn in its Q4 2021 13F filing. Its largest position is AMZN at 4.5% of the reported book, followed by DXC and FANG. Versus Q3 2021 it opened 10 new positions, added to 34, reduced 30 and exited 12.

$2.8bn
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.
4.5%
Largest position
The largest single position as a share of the reported equity book.
36.3%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
38
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 Q3 2021: 10 new, 34 added, 30 reduced, 12 exited

50 of 94
AMZN AMAZON COM INCConsumer Cyclical4.5%$127m38,159+5.3%added
DXC DXC TECHNOLOGY COTechnology4.0%$113m3.52m+0.3%held
FANG DIAMONDBACK ENERGY INCEnergy3.8%$107m994,110−0.1%held
META META PLATFORMS INCCommunication Services3.7%$104m310,444+3.6%added
ADT ADT INCIndustrials3.5%$97.9m11.64m−2.8%reduced
GOOGL ALPHABET INCCommunication Services3.5%$97.6m33,699−15%reduced
TMHC* TAYLOR MORRISON HOME CORP–3.5%$97.5m2.79m+1.4%added
HWAYEUR TIVITY HEALTH INC–3.4%$96.7m3.66m+1.2%added
NCLH NORWEGIAN CRUISE LINE HLDGSConsumer Cyclical3.4%$96.4m4.65m+29%added
MAT MATTEL INCConsumer Cyclical3.1%$86.6m4.02m–new
HLF HERBALIFE LTDConsumer Defensive3.0%$84.9m2.07m+24%added
BHC BAUSCH HEALTH COS INCHealthcare3.0%$84.0m3.04m+1.6%added
SPLKCHF SPLUNK INC–2.9%$82.1m709,766−6.0%reduced
GM General Motors CorpConsumer Cyclical2.9%$82.0m1.40m+5.8%added
BABA ALIBABA GROUP HLDG LTDConsumer Cyclical2.8%$79.9m672,788+6.3%added
DAL DELTA AIR LINES INCIndustrials2.8%$78.8m2.02m+25%added
OMF ONEMAIN HLDGS INCFinancial Services2.8%$78.8m1.57m−1.9%reduced
TEVA TEVA PHARMACEUTICAL INDS LTDHealthcare2.7%$77.4m9.66m−0.9%reduced
FTCHQ FARFETCH LTDConsumer Cyclical2.7%$77.3m2.31m+25%added
OVV OVINTIV INCEnergy2.6%$73.9m2.19m–new
WW6 WW INTL INC–2.4%$66.5m4.12m+11%added
JPM JPMORGAN CHASE & COFinancial Services2.3%$64.2m405,209−10%reduced
BAC BANK OF AMER CORPFinancial Services2.2%$61.9m1.39m−11%reduced
COIN COINBASE GLOBAL INCFinancial Services2.2%$61.8m244,750–new
COF CAPITAL ONE FINL CORPFinancial Services2.1%$59.9m412,804−17%reduced
VNT VONTIER CORPORATIONTechnology2.0%$57.8m1.88m+1.3%added
FISV FISERV INC–1.9%$52.7m507,383–new
GOOS CANADA GOOSE HLDGS INCConsumer Cyclical1.8%$52.2m1.41m−9.6%reduced
UBER UBER TECHNOLOGIES INCTechnology1.8%$51.5m1.23m+12%added
ET ENERGY TRANSFER LPEnergy1.7%$46.9m5.70m−27%reduced
TUP TUPPERWARE BRANDS CORP–1.5%$43.1m2.82m−8.4%reduced
SOFI SOFI TECHNOLOGIES INCFinancial Services1.3%$36.6m2.32m+0.8%added
REAL THE REALREAL INCConsumer Cyclical1.3%$35.8m3.08m−22%reduced
SFIX STITCH FIX INCConsumer Cyclical1.1%$31.8m1.68m+17%added
KRTX KARUNA THERAPEUTICS INC–1.1%$31.6m241,323+0.8%added
PGEN PRECIGEN INCHealthcare0.8%$23.9m6.43m−20%reduced
UPRO PROSHARES TR–0.5%$14.0m91,8000.0%held
RKT ROCKET COS INCFinancial Services0.5%$12.8m917,297−68%reduced
CC CHEMOURS COBasic Materials0.5%$12.8m382,600−74%reduced
VTRS VIATRIS INCHealthcare0.4%$12.5m925,000+28%added
CHS1USD CHICOS FAS INC–0.4%$10.7m1.99m−2.5%reduced
PBI PITNEY BOWES INCIndustrials0.4%$10.4m1.57m+12%added
VALE VALE S ABasic Materials0.4%$10.2m725,000+16%added
HRB BLOCK H & R INCConsumer Cyclical0.3%$9.7m410,000+5.1%added
SDIG STRONGHOLD DIGITAL MINING IN–0.3%$8.9m695,441–new
CHIMERA INVT CORP no ticker–0.3%$8.5m561,400−14%reduced
35OB SCULPTOR CAP MGMT–0.3%$8.0m372,400+80%added
ARLP ALLIANCE RES PARTNER L PEnergy0.3%$7.6m600,700+84%added
APTSUSD PREFERRED APT CMNTYS INC–0.3%$7.2m396,000−34%reduced
NBR NABORS INDUSTRIES LTDEnergy0.2%$6.4m79,161+13%added

Exited since Q3 2021

12 rows
MTTR* MATTERPORT INC2.2%$66.0m
AYI ACUITY INC1.8%$52.1m
VRMUSD VROOM INC1.5%$45.1m
METROMILE INC no ticker1.0%$28.4m
QUOTUSD QUOTIENT TECHNOLOGY INC0.4%$10.8m
APOEUR APOLLO GLOBAL MGMT INC0.2%$6.4m
RVLV REVOLVE GROUP INC0.03%$767k
MSTR STRATEGY INC0.01%$383k
CMPS COMPASS PATHWAYS PLC0.01%$239k
WFC WELLS FARGO & CO0.01%$220k
SOFI TECHNOLOGIES INC no ticker0.0%$124k
23ANDME HOLDING CO no ticker0.0%$74.0k

Sector mix

  • Consumer Cyclical24.3%
  • Unclassified19.6%
  • Financial Services14.0%
  • Energy8.8%
  • Technology8.1%
  • Communication Services7.4%
  • Healthcare7.2%
  • Industrials6.9%
  • Consumer Defensive3.0%
  • Basic Materials0.8%
  • 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