Miller Value Partners
Picture
Moves
Options: 6 moves on a notional base, in the table below.
The book
- Very concentrated
- Concentrated
- Focused
- Diversified
- Low
- Moderate
- High
Top 5 positions
- trimmed0.00
- trimmed−0.01
- added+0.50
- trimmed+0.12
- added+1.08
Positions
| AMZNAmazon.Com Inc | 5.43% | 71,841 | $136M | trimmed−6% | 0.00 pp | 25 q |
| BHCBausch Health Companies Inc | 4.68% | 4,648,989 | $117M | trimmed−3% | −0.01 pp | 4 q |
| RHRh | 4.27% | 924,910 | $107M | added0% | +0.50 pp | 10 q |
| OMFOneMain Holdings, Inc. | 4.13% | 3,060,130 | $103M | trimmed−4% | +0.12 pp | 15 q |
| ADTADT Inc. | 3.96% | 16,193,975 | $99M | added+43% | +1.08 pp | 5 q |
| METAMeta Platforms, Inc. Class A | 3.45% | 448,315 | $87M | added0% | +0.48 pp | 9 q |
| BHFBrighthouse Financial, Inc. | 3.36% | 2,291,455 | $84M | added0% | +0.06 pp | 5 q |
| JPMJPMorgan Chase & Co. | 3.15% | 706,025 | $79M | trimmed−8% | +0.06 pp | 4 q |
| AVPAvon Products, Inc. | 3.11% | 20,053,838 | $78M | trimmed−29% | −0.17 pp | 9 q |
| QUOTQuotient Technology Inc | 3.10% | 7,228,875 | $78M | added+1% | +0.30 pp | 15 q |
| GNWGenworth Financial, Inc. | 3.06% | 20,668,000 | $77M | added+1% | −0.07 pp | 25 q |
| NXPINXP Semiconductors N.V. | 2.98% | 765,595 | $75M | trimmed−10% | −0.02 pp | 4 q |
| DALDelta Air Lines, Inc. | 2.93% | 1,293,780 | $73M | trimmed−9% | +0.01 pp | 25 q |
| MUMicron Technology, Inc. | 2.90% | 1,885,015 | $73M | added0% | −0.19 pp | 6 q |
| LENLennar Corporation Class A | 2.88% | 1,488,975 | $72M | held | — | 25 q |
| UALUnited Airlines Holdings, Inc. | 2.66% | 761,260 | $67M | trimmed−8% | +0.04 pp | 25 q |
| BACBank of America Corporation | 2.51% | 2,171,909 | $63M | added0% | +0.13 pp | 25 q |
| XONPrecigen, Inc. | 2.46% | 8,048,660 | $62M | added+14% | +0.98 pp | 23 q |
| PHMPultegroup, Inc. | 2.41% | 1,909,470 | $60M | trimmed−16% | −0.12 pp | 25 q |
| TEVATeva Pharmaceutical Industries Limited | 2.40% | 6,500,252 | $60M | added+43% | −0.43 pp | 7 q |
| unresolvedFlexion Therapeutics Inc | 2.38% | 4,852,460 | $60M | added+18% | +0.34 pp | 9 q |
| ALXNAlexion Pharmaceuticals Inc | 2.35% | 448,780 | $59M | added0% | −0.06 pp | 11 q |
| unresolvedZiopharm Oncology Inc | 2.15% | 9,239,150 | $54M | held | — | 18 q |
| DISCADiscovery, Inc. Series A | 2.03% | 1,657,800 | $51M | trimmed−13% | −0.02 pp | 7 q |
| AALAmerican Airlines Group Inc. | 2.01% | 1,544,775 | $50M | added0% | +0.06 pp | 23 q |
| QCOMQualcomm Inc | 1.91% | 630,115 | $48M | added+1% | +0.49 pp | 4 q |
| CCitigroup Inc. | 1.82% | 651,231 | $46M | added+1% | +0.22 pp | 25 q |
| HWAYTivity Health Inc | 1.77% | 2,693,150 | $44M | new | +1.77 pp | new |
| CVSCvs Health Corporation | 1.65% | 759,575 | $41M | new | +1.65 pp | new |
| ENDPQEndo International PLC | 1.61% | 9,797,300 | $40M | added+8% | −1.28 pp | 13 q |
| BABAAlibaba Group Holding Limited | 1.56% | 231,280 | $39M | added×51.4 | +1.53 pp | 9 q |
| MNKMallinckrodt PLC | 1.36% | 3,704,050 | $34M | added+19% | −1.33 pp | 8 q |
| SFIXStitch Fix, Inc. Class A | 1.12% | 876,225 | $28M | held | — | 7 q |
| EBEventbrite, Inc. Class A | 1.07% | 1,655,875 | $27M | new | +1.07 pp | new |
| CHGGChegg, Inc. | 0.77% | 500,000 | $19M | held | — | 10 q |
| unresolvedApollo Global Management LLC | 0.62% | 449,500 | $15M | trimmed−2% | +0.11 pp | 25 q |
| WLHWilliam Lyon Homes | 0.59% | 809,880 | $15M | trimmed−1% | +0.09 pp | 9 q |
| unresolvedThe Carlyle Group | 0.53% | 583,800 | $13M | held | — | 14 q |
| unresolvedGty Technology Holdings Inc | 0.51% | 1,851,725 | $13M | held | — | 2 q |
| PBIPitney Bowes Inc. | 0.50% | 2,917,875 | $12M | added+22% | −0.15 pp | 2 q |
| MICMacquarie Infrastructure Hol | 0.42% | 258,000 | $10M | held | — | 4 q |
| WDWalker & Dunlop, Inc. | 0.42% | 200,000 | $11M | held | — | 7 q |
| CTLLumen Technologies, Inc. | 0.38% | 812,891 | $10M | trimmed−82% | −1.79 pp | 7 q |
| BXBlackstone Inc. | 0.35% | 196,000 | $9M | trimmed−7% | +0.06 pp | 8 q |
| BCBPrimo Water Corp | 0.32% | 600,000 | $8M | held | — | 10 q |
| UPROProShares UltraPro S&P 500 | 0.31% | 145,600 | $8M | held | — | 2 q |
| NCMINational CineMedia, Inc. | 0.29% | 1,090,000 | $7M | added+15% | +0.02 pp | 9 q |
| NGLNgl Energy Partners LP | 0.28% | 475,000 | $7M | held | — | 5 q |
| JEJust Energy Group Inc | 0.25% | 1,455,900 | $6M | trimmed−47% | −0.12 pp | 4 q |
| SSWSeaspan Corp | 0.25% | 640,175 | $6M | trimmed−4% | +0.02 pp | 10 q |
| BGCPBGC Partners, Inc. | 0.21% | 1,001,000 | $5M | held | — | 3 q |
| QUADQUAD/GRAPHICS, Inc. | 0.18% | 585,000 | $5M | added×2.3 | +0.06 pp | 2 q |
| unresolvedTwo Hbrs Invt Corp | 0.18% | 359,080 | $5M | trimmed−5% | −0.02 pp | 4 q |
| unresolvedCedar Fair L P | 0.17% | 88,500 | $4M | added+69% | +0.06 pp | 3 q |
| unresolvedChimera Investment Corp | 0.17% | 220,000 | $4M | trimmed−21% | −0.04 pp | 17 q |
| ETEnergy Transfer LP | 0.17% | 296,240 | $4M | held | — | 3 q |
| AIArlington Asset Investment-a | 0.16% | 591,700 | $4M | held | — | 3 q |
| CHSChicos FAS, Inc. | 0.15% | 1,150,000 | $4M | new | +0.15 pp | new |
| ANFAbercrombie & Fitch Co. | 0.13% | 200,000 | $3M | new | +0.13 pp | new |
| NEWMUSA TODAY Co., Inc. | 0.11% | 292,000 | $3M | trimmed−15% | −0.03 pp | 22 q |
| unresolvedOch Ziff Cptl Mangemnt Grp I | 0.11% | 119,500 | $3M | new | +0.11 pp | new |
| unresolvedFiat Chrysler Automobiles NV s | 0.11% | 200,000 | $3M | trimmed−60% | −0.19 pp | 10 q |
| WPGWashington Prime Group Inc. | 0.09% | 575,000 | $2M | held | — | 9 q |
| MAXRMaxar Technologies Inc. | 0.06% | 178,725 | $1M | added+13% | +0.03 pp | 2 q |
| TWTRTwitter, Inc. | 0.06% | 41,000 | $1M | held | — | 18 q |
| NBRNabors Industries Ltd. | 0.06% | 505,748 | $1M | added+21% | 0.00 pp | 9 q |
| CHAPQChaparral Energy Inc-class A | 0.04% | 194,610 | $917,000 | new | +0.04 pp | new |
| GHLGreenhill & Co., Inc. | 0.04% | 77,000 | $1M | trimmed−64% | −0.14 pp | 9 q |
| PPLTabrdn Physical Platinum Shares ETF | 0.03% | 10,000 | $789,000 | held | — | 3 q |
| GOOGLAlphabet Inc. Class A | 0.03% | 600 | $650,000 | held | — | 9 q |
| BBYD20230930-DK-BUTTERFLY-1 Inc | 0.03% | 69,950 | $813,000 | trimmed−7% | −0.02 pp | 5 q |
| DBDDiebold Nixdorf, Incorporated | 0.03% | 93,000 | $852,000 | added×2.7 | +0.01 pp | 2 q |
| GMEGameStop Corp. Class A | 0.03% | 144,750 | $792,000 | added+47% | −0.01 pp | 22 q |
| unresolvedGrubhub Inc | 0.03% | 9,000 | $702,000 | new | +0.03 pp | new |
| UISUnisys Corporation | 0.03% | 65,275 | $634,000 | added+42% | +0.01 pp | 6 q |
| BIDUBaidu, Inc. | 0.02% | 3,500 | $411,000 | trimmed−98% | −1.15 pp | 2 q |
| TNADirexion Daily Small Cap Bull 3x ETF | 0.02% | 10,000 | $623,000 | held | — | 2 q |
| NAILDirexion Daily Homebuilders & Supplies Bull 3X ETF | 0.02% | 11,000 | $505,000 | held | — | 2 q |
| WDCWestern Digital Corp. | 0.02% | 8,370 | $398,000 | added+18% | +0.01 pp | 2 q |
| ALSKAlaska Communications Systems | 0.01% | 150,000 | $256,000 | held | — | 9 q |
| ARAntero Resources Corporation | 0.01% | 34,480 | $191,000 | new | +0.01 pp | new |
| BCSBarclays PLC | 0.01% | 16,765 | $128,000 | held | — | 6 q |
| CYHCommunity Health Systems, Inc. | 0.01% | 66,525 | $178,000 | added+54% | 0.00 pp | 9 q |
| XOGExtraction Oil & Gas Inc | 0.01% | 80,000 | $346,000 | new | +0.01 pp | new |
| FTRFrontier Communications Corp. | 0.01% | 79,459 | $139,000 | trimmed−76% | −0.02 pp | 8 q |
| HALOHalozyme Therapeutics, Inc. | 0.01% | 20,000 | $344,000 | held | — | 9 q |
| MDRMcDermott International | 0.01% | 14,875 | $144,000 | trimmed−2% | +0.01 pp | 3 q |
| NWLNewell Brands Inc. | 0.01% | 17,670 | $272,000 | trimmed−96% | −0.23 pp | 4 q |
| NENoble Corporation plc | 0.01% | 130,720 | $244,000 | added+15% | 0.00 pp | 9 q |
| SIGSignet Jewelers Limited | 0.01% | 16,470 | $294,000 | added+57% | 0.00 pp | 2 q |
| ASNAAscena Retail Group Inc | 0.00% | 48,500 | $30,000 | added+22% | 0.00 pp | 4 q |
| CHKChesapeake Energy Corp | 0.00% | 24,150 | $47,000 | added+29% | 0.00 pp | 8 q |
| unresolvedExpress Inc | 0.00% | 14,900 | $41,000 | trimmed−70% | −0.01 pp | 7 q |
| GNCIQGnc Holdings Inc-cl A | 0.00% | 72,090 | $108,000 | held | — | 9 q |
| OBEObsidian Energy Ltd. | 0.00% | 22,503 | $27,000 | new | 0.00 pp | new |
| ACTAllergan PLC | — | −278,655 | — | exited | −1.62 pp | — |
| CELGCelgene Corp | — | −423,255 | — | exited | −1.59 pp | — |
| EIGIEndurance International Group Holdings, Inc. | — | −3,525,525 | — | exited | −1.02 pp | — |
| RITMRithm Capital Corp. | — | −353,750 | — | exited | −0.24 pp | — |
| STWDStarwood Property Trust, Inc. | — | −145,200 | — | exited | −0.13 pp | — |
| unresolvedAshford Hospitality Trust Inc | — | −485,000 | — | exited | −0.09 pp | — |
| CODICompass Diversified | — | −140,000 | — | exited | −0.09 pp | — |
| WMCWestern Asset Mortgage Capital Corporation | — | −142,900 | — | exited | −0.06 pp | — |
| unresolvedJmp Group LLC | — | −300,000 | — | exited | −0.04 pp | — |
| KKRKKR & Co. Inc. | — | −40,000 | — | exited | −0.04 pp | — |
| CCSCentury Communities, Inc. | — | −17,000 | — | exited | −0.02 pp | — |
| CVNACarvana Co. | — | −4,000 | — | exited | −0.01 pp | — |
| unresolvedGty Technology Holdings Inc | — | −617,874 | — | exited | −0.01 pp | — |
| LVSLas Vegas Sands Corp. | — | −6,000 | — | exited | −0.01 pp | — |
| WFCWells Fargo & Co. | — | −5,933 | — | exited | −0.01 pp | — |
| unresolvedObsidian Energy Ltd | — | −157,539 | — | exited | 0.00 pp | — |
Other 13(f) securities
Options
| Contract | % of notional | Shares | Notional |
|---|---|---|---|
| ENDPQ CALL | 81.80% | 200,412 | $101M |
| XON CALL | 6.90% | 1,110,000 | $9M |
| TEVA CALL | 3.74% | 500,000 | $5M |
| GNW CALL | 3.01% | 1,000,000 | $4M |
| FTR CALL | 2.02% | 1,421,000 | $2M |
| MNK CALL | 1.49% | 200,000 | $2M |
| PBI CALL | 1.04% | 300,000 | $1M |
Notes