Miller Value Partners
Picture
Moves
Options: 3 moves on a notional base, in the table below.
The book
- Very concentrated
- Concentrated
- Focused
- Diversified
- Low
- Moderate
- High
Top 5 positions
- trimmed+0.81
- added+0.02
- trimmed−0.81
- trimmed+0.59
- trimmed−0.22
Positions
| OMFOneMain Holdings, Inc. | 4.99% | 2,830,350 | $88M | trimmed−0% | +0.81 pp | 4 q |
| XONPrecigen, Inc. | 4.91% | 3,074,925 | $86M | added0% | +0.02 pp | 12 q |
| QUOTQuotient Technology Inc | 4.77% | 6,282,625 | $84M | trimmed−2% | −0.81 pp | 4 q |
| NXPINXP Semiconductors N.V. | 4.68% | 804,925 | $82M | trimmed−0% | +0.59 pp | 14 q |
| DALDelta Air Lines, Inc. | 4.52% | 2,012,950 | $79M | trimmed−0% | −0.22 pp | 14 q |
| unresolvedPandora Media Inc | 4.49% | 5,494,625 | $79M | trimmed−1% | +0.03 pp | 14 q |
| GNWGenworth Financial, Inc. | 4.44% | 15,692,250 | $78M | added0% | +1.83 pp | 14 q |
| PHMPultegroup, Inc. | 4.44% | 3,889,150 | $78M | trimmed−2% | −0.55 pp | 14 q |
| AALAmerican Airlines Group Inc. | 4.20% | 2,011,650 | $74M | trimmed−0% | +0.51 pp | 12 q |
| UALUnited Airlines Holdings, Inc. | 4.02% | 1,344,025 | $71M | added0% | +0.46 pp | 14 q |
| LENLennar Corporation Class A | 3.90% | 1,614,550 | $68M | trimmed−4% | −1.10 pp | 14 q |
| MTGMGIC Investment Corp. | 3.71% | 8,132,900 | $65M | added0% | +0.59 pp | 14 q |
| BACBank of America Corporation | 3.48% | 3,901,775 | $61M | held | — | 14 q |
| unresolvedPlatform Specialty Prods Cor | 3.35% | 7,241,175 | $59M | trimmed−0% | −0.82 pp | 8 q |
| unresolvedJpmorgan Chase & Co | 3.28% | 2,334,275 | $57M | trimmed−0% | +0.22 pp | 14 q |
| unresolvedValeant Pharmaceuticals Intl | 3.21% | 2,291,400 | $56M | added+14% | +0.60 pp | 3 q |
| EIGIEndurance International Group Holdings, Inc. | 3.07% | 6,165,375 | $54M | added+11% | −0.16 pp | 8 q |
| CCitigroup Inc. | 2.71% | 1,005,600 | $47M | held | — | 14 q |
| TWTRTwitter, Inc. | 2.42% | 1,839,049 | $42M | trimmed−1% | +0.39 pp | 7 q |
| TMHCTaylor Morrison Home Corporation | 2.23% | 2,226,525 | $39M | held | — | 14 q |
| GILDGilead Sciences Inc | 2.12% | 470,550 | $37M | trimmed−2% | −0.47 pp | 10 q |
| unresolvedNationstar Mortgage Holdings Inc | 2.03% | 2,400,350 | $36M | held | — | 11 q |
| ENDPQEndo International PLC | 2.01% | 1,753,425 | $35M | added0% | +0.25 pp | 2 q |
| GMEGameStop Corp. Class A | 1.82% | 1,160,125 | $32M | held | — | 11 q |
| unresolvedFiat Chrysler Automobiles NV s | 1.81% | 4,959,125 | $32M | trimmed−9% | −0.33 pp | 8 q |
| STXNSeagate Technology Holdings PLC (Ireland) | 1.78% | 812,075 | $31M | held | — | 14 q |
| unresolvedZiopharm Oncology Inc | 1.61% | 5,005,921 | $28M | held | — | 7 q |
| JDJD.com, Inc. | 1.54% | 1,037,500 | $27M | trimmed−8% | 0.00 pp | 7 q |
| TPHTri Pointe Homes, Inc. | 1.52% | 2,027,650 | $27M | held | — | 6 q |
| unresolvedPennymac Finl Svcs Inc | 1.41% | 1,457,550 | $25M | held | — | 14 q |
| RDNRadian Group Inc. | 1.22% | 1,585,975 | $21M | held | — | 14 q |
| AMZNAmazon.Com Inc | 0.66% | 13,805 | $12M | trimmed−12% | −0.06 pp | 14 q |
| FTAIFTAI Aviation Ltd. | 0.28% | 393,000 | $5M | added+26% | +0.09 pp | 6 q |
| NEWMUSA TODAY Co., Inc. | 0.23% | 257,000 | $4M | added+14% | −0.03 pp | 11 q |
| ARCPVereit Inc | 0.23% | 385,000 | $4M | held | — | 5 q |
| unresolvedTriangle Cap Corp | 0.21% | 184,278 | $4M | held | — | 10 q |
| unresolvedChimera Investment Corp | 0.19% | 210,000 | $3M | held | — | 6 q |
| unresolvedFortress Investment Group LLC | 0.19% | 677,000 | $3M | added+35% | +0.05 pp | 10 q |
| unresolvedNorthstar Rlty Fin Corp | 0.19% | 251,450 | $3M | held | — | 4 q |
| STWDStarwood Property Trust, Inc. | 0.19% | 145,200 | $3M | held | — | 14 q |
| unresolvedApollo Global Management LLC | 0.18% | 178,000 | $3M | added+32% | +0.05 pp | 14 q |
| RITMRithm Capital Corp. | 0.18% | 222,750 | $3M | added+7% | −0.01 pp | 8 q |
| AIArlington Asset Investment-a | 0.13% | 160,000 | $2M | added+23% | +0.02 pp | 2 q |
| Frontier Communicationsconvertible | 0.13% | 28,000 | $2M | held | — | 6 q |
| GEOThe GEO Group, Inc. | 0.12% | 92,000 | $2M | new | +0.12 pp | new |
| BGCPBGC Partners, Inc. | 0.11% | 226,400 | $2M | held | — | 14 q |
| unresolvedCys Invts Inc | 0.11% | 230,000 | $2M | held | — | 13 q |
| MGPMGM Growth Properties LLC Class A representing limited liability company interests | 0.11% | 75,000 | $2M | held | — | 2 q |
| MCCMedley Capital Corp | 0.11% | 262,834 | $2M | new | +0.11 pp | new |
| CODICompass Diversified | 0.09% | 90,000 | $2M | held | — | 14 q |
| unresolvedJmp Group LLC | 0.09% | 300,000 | $2M | held | — | 5 q |
| unresolvedThe Carlyle Group | 0.08% | 86,000 | $1M | added+23% | +0.01 pp | 3 q |
| unresolvedFrontier Communications Corp | 0.08% | 325,000 | $1M | held | — | 6 q |
| unresolvedAmerican Capital Agency Corp | 0.07% | 66,000 | $1M | trimmed−43% | −0.08 pp | 14 q |
| MVCMvc Capital Inc | 0.07% | 142,600 | $1M | held | — | 12 q |
| TPVGTriplepoint Venture Growth Bdc Corp. | 0.07% | 122,711 | $1M | held | — | 11 q |
| AAPLApple Inc. | 0.06% | 8,580 | $970,000 | held | — | 14 q |
| unresolvedCommunications SALES&LEAS In | 0.06% | 33,940 | $1M | held | — | 6 q |
| unresolvedOci Partners LP | 0.05% | 139,400 | $824,000 | trimmed−42% | −0.07 pp | 12 q |
| unresolvedCigna Corporation | 0.04% | 5,420 | $707,000 | trimmed−97% | −1.46 pp | 14 q |
| BABAAlibaba Group Holding Limited | — | −198,825 | — | exited | −1.02 pp | — |
| CPTACapitala Finance Corp. | — | −173,500 | — | exited | −0.16 pp | — |
| PMTPennyMac Mortgage Investment Trust | — | −140,000 | — | exited | −0.15 pp | — |
Other 13(f) securities
Options
| Contract | % of notional | Shares | Notional |
|---|---|---|---|
| AAPL CALL | 58.46% | 3,544,700 | $401M |
| AMZN CALL | 30.21% | 247,300 | $207M |
| TWTR CALL | 11.33% | 3,370,000 | $78M |
Notes
| Issue | % of notes | Principal | Value |
|---|---|---|---|
| Blucora Inc | 100.00% | 2,000,000 | $2M |