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
- trimmed+0.91
- trimmed−0.13
- trimmed−0.52
- added+1.31
- added+0.84
Positions
| FTCHQFarfetch Limited A | 7.21% | 7,233,135 | $182M | trimmed−12% | +0.91 pp | 4 q |
| AMZNAmazon.Com Inc | 6.13% | 49,141 | $155M | trimmed−4% | −0.13 pp | 30 q |
| ADTADT Inc. | 4.74% | 14,663,129 | $120M | trimmed−1% | −0.52 pp | 10 q |
| BABAAlibaba Group Holding Limited | 4.25% | 365,439 | $107M | added+19% | +1.31 pp | 14 q |
| DXCDXC Technology Company | 3.81% | 5,397,690 | $96M | added+33% | +0.84 pp | 4 q |
| METAMeta Platforms, Inc. Class A | 3.66% | 352,693 | $92M | trimmed−1% | +0.08 pp | 14 q |
| TMHCTaylor Morrison Home Corporation | 3.33% | 3,418,294 | $84M | trimmed−1% | +0.36 pp | 3 q |
| OMFOneMain Holdings, Inc. | 2.98% | 2,405,222 | $75M | added+7% | +0.52 pp | 20 q |
| CCThe Chemours Company | 2.93% | 3,536,689 | $74M | trimmed−13% | +0.14 pp | 5 q |
| TEVATeva Pharmaceutical Industries Limited | 2.89% | 8,093,698 | $73M | added+3% | −1.41 pp | 12 q |
| SFIXStitch Fix, Inc. Class A | 2.81% | 2,615,383 | $71M | trimmed−1% | −0.11 pp | 12 q |
| GOOSCanada Goose Holdings Inc. | 2.50% | 1,962,269 | $63M | added+96% | +1.47 pp | 3 q |
| GOOGLAlphabet Inc. Class A | 2.41% | 41,555 | $61M | trimmed−17% | −0.75 pp | 14 q |
| VRMVroom, Inc. | 2.40% | 1,170,016 | $61M | added+87% | +0.95 pp | 2 q |
| DALDelta Air Lines, Inc. | 2.18% | 1,800,156 | $55M | added+13% | +0.19 pp | 30 q |
| unresolvedFlexion Therapeutics Inc | 2.17% | 5,274,439 | $55M | added+2% | −0.86 pp | 14 q |
| QUOTQuotient Technology Inc | 2.11% | 7,234,009 | $53M | trimmed−1% | −0.26 pp | 20 q |
| BHCBausch Health Companies Inc | 2.10% | 3,411,070 | $53M | added+8% | −0.46 pp | 9 q |
| AYIAcuity Inc. | 1.99% | 491,033 | $50M | new | +1.99 pp | new |
| COFCapital One Financial | 1.97% | 691,822 | $50M | added+71% | +0.85 pp | 2 q |
| HWAYTivity Health Inc | 1.81% | 3,256,708 | $46M | trimmed−15% | −0.11 pp | 6 q |
| WDAYWorkday, Inc. Class A | 1.78% | 208,738 | $45M | trimmed−0% | +0.04 pp | 2 q |
| LENLennar Corporation Class A | 1.77% | 545,802 | $45M | trimmed−43% | −0.83 pp | 30 q |
| RKTRocket Companies, Inc. | 1.77% | 2,236,965 | $45M | new | +1.77 pp | new |
| BACBank of America Corporation | 1.75% | 1,837,024 | $44M | trimmed−1% | −0.20 pp | 30 q |
| NXPINXP Semiconductors N.V. | 1.67% | 337,648 | $42M | trimmed−20% | −0.48 pp | 9 q |
| UBERUber Technologies, Inc. | 1.63% | 1,128,434 | $41M | new | +1.63 pp | new |
| REALThe RealReal, Inc. | 1.57% | 2,745,336 | $40M | added×37.1 | +1.53 pp | 3 q |
| PBIPitney Bowes Inc. | 1.54% | 7,324,125 | $39M | added+35% | +0.92 pp | 7 q |
| JPMJPMorgan Chase & Co. | 1.51% | 394,932 | $38M | trimmed−1% | −0.15 pp | 9 q |
| DISCADiscovery, Inc. Series A | 1.47% | 1,699,576 | $37M | added+18% | +0.12 pp | 12 q |
| BABoeing Company | 1.43% | 218,168 | $36M | added+10% | −0.18 pp | 3 q |
| GNWGenworth Financial, Inc. | 1.37% | 10,338,700 | $35M | trimmed−22% | +0.01 pp | 30 q |
| RHRh | 1.36% | 89,671 | $34M | trimmed−60% | −1.13 pp | 15 q |
| MEDMedifast, Inc. | 1.34% | 205,595 | $34M | trimmed−63% | −2.11 pp | 5 q |
| PTONPeloton Interactive, Inc. Class A | 1.25% | 318,006 | $32M | trimmed−63% | −0.94 pp | 5 q |
| unresolvedZiopharm Oncology Inc | 1.24% | 12,385,586 | $31M | trimmed−2% | −0.60 pp | 23 q |
| CCitigroup Inc. | 1.11% | 649,257 | $28M | added0% | −0.36 pp | 30 q |
| PGENPrecigen, Inc. | 1.05% | 7,558,576 | $26M | trimmed−2% | −0.66 pp | 28 q |
| ETEnergy Transfer LP | 1.00% | 4,674,534 | $25M | trimmed−1% | −0.49 pp | 8 q |
| DBDDiebold Nixdorf, Incorporated | 0.99% | 3,285,000 | $25M | added+4% | +0.14 pp | 7 q |
| unresolvedTrine Acquisition Corp | 0.80% | 1,868,070 | $20M | new | +0.80 pp | new |
| unresolvedAvid Technology Inc | 0.51% | 1,505,000 | $13M | added×2.2 | +0.29 pp | 2 q |
| BHFBrighthouse Financial, Inc. | 0.45% | 422,054 | $11M | trimmed−54% | −0.69 pp | 10 q |
| ATCOAtlas Corp | 0.36% | 1,028,960 | $9M | added+53% | +0.13 pp | 3 q |
| GEOThe GEO Group, Inc. | 0.35% | 785,000 | $9M | held | — | 2 q |
| APONApollo Asset Management Inc | 0.31% | 172,300 | $8M | trimmed−18% | −0.16 pp | 5 q |
| unresolvedCedar Fair L P | 0.28% | 251,000 | $7M | trimmed−6% | −0.04 pp | 8 q |
| unresolvedGty Technology Holdings Inc | 0.20% | 1,928,311 | $5M | added0% | −0.16 pp | 7 q |
| UPROProShares UltraPro S&P 500 | 0.20% | 91,800 | $5M | held | — | 7 q |
| CGThe Carlyle Group Inc. | 0.19% | 193,000 | $5M | trimmed−12% | −0.08 pp | 3 q |
| LAZLazard, Inc. | 0.18% | 135,000 | $4M | added+13% | +0.03 pp | 2 q |
| QUADQUAD/GRAPHICS, Inc. | 0.14% | 1,135,300 | $3M | held | — | 7 q |
| CHSChicos FAS, Inc. | 0.13% | 3,456,682 | $3M | added×2.3 | +0.04 pp | 6 q |
| 35OBSculptor Capital Management | 0.10% | 210,200 | $2M | trimmed−5% | −0.03 pp | 5 q |
| unresolvedChimera Investment Corp | 0.09% | 277,000 | $2M | new | +0.09 pp | new |
| unresolvedTwo Hbrs Invt Corp | 0.09% | 470,000 | $2M | trimmed−25% | −0.05 pp | 3 q |
| GMEGameStop Corp. Class A | 0.06% | 142,485 | $1M | trimmed−37% | +0.02 pp | 27 q |
| NBRNabors Industries Ltd. | 0.06% | 58,081 | $1M | added+70% | 0.00 pp | 14 q |
| BBYD20230930-DK-BUTTERFLY-1 Inc | 0.05% | 91,685 | $1M | trimmed−23% | −0.01 pp | 10 q |
| EBAYeBay Inc | 0.05% | 24,000 | $1M | added×2.4 | +0.03 pp | 2 q |
| NLYAnnaly Capital Management. Inc. | 0.04% | 158,000 | $1M | trimmed−12% | −0.01 pp | 3 q |
| HUCKHuckleberry.ai, Inc. Class B | 0.04% | 23,600 | $905,000 | trimmed−19% | 0.00 pp | 5 q |
| ZDZiff Davis, Inc. | 0.04% | 15,000 | $1M | added+50% | +0.01 pp | 2 q |
| TWTRTwitter, Inc. | 0.04% | 21,000 | $934,000 | held | — | 23 q |
| ENDPQEndo International PLC | 0.04% | 304,475 | $1M | trimmed−97% | −1.30 pp | 18 q |
| SIGSignet Jewelers Limited | 0.04% | 59,775 | $1M | added+30% | +0.02 pp | 7 q |
| JDJD.com, Inc. | 0.03% | 10,700 | $830,000 | held | — | 2 q |
| MSGNMSG Networks Inc. | 0.03% | 74,000 | $708,000 | held | — | 4 q |
| NGLNgl Energy Partners LP | 0.03% | 163,100 | $646,000 | held | — | 10 q |
| MAXRMaxar Technologies Inc. | 0.02% | 18,440 | $460,000 | trimmed−71% | −0.03 pp | 7 q |
| UAUnder Armour, Inc. Class C, $0.0003 1/3 par value | 0.02% | 52,000 | $512,000 | held | — | 4 q |
| UISUnisys Corporation | 0.02% | 42,555 | $454,000 | added+11% | 0.00 pp | 11 q |
| ANFAbercrombie & Fitch Co. | 0.01% | 25,000 | $348,000 | held | — | 6 q |
| CXWCoreCivic, Inc. | 0.01% | 35,000 | $280,000 | held | — | 2 q |
| ETMEntercom Communications | 0.01% | 220,000 | $354,000 | trimmed−4% | 0.00 pp | 5 q |
| WFCWells Fargo & Co. | 0.01% | 9,930 | $233,000 | new | +0.01 pp | new |
| unresolvedAmerican Intl Group Inc | 0.00% | 470,000 | $75,000 | trimmed−25% | −0.04 pp | 3 q |
| ARAntero Resources Corporation | 0.00% | 27,025 | $74,000 | trimmed−19% | 0.00 pp | 6 q |
| CVSCvs Health Corporation | 0.00% | 1,355 | $79,000 | new | 0.00 pp | new |
| CLFCleveland-Cliffs Inc. | 0.00% | 14,173 | $91,000 | trimmed−31% | −0.01 pp | 5 q |
| ERFEnerplus Corporation | 0.00% | 10,000 | $19,000 | held | — | 2 q |
| TDAYUSA TODAY Co., Inc. | 0.00% | 10,000 | $13,000 | new | 0.00 pp | new |
| OXY/WSOccidental Petroleum Corporation Warrants to Purchase | 0.00% | 10,000 | $30,000 | new | 0.00 pp | new |
| UALUnited Airlines Holdings, Inc. | — | −1,173,000 | — | exited | −1.80 pp | — |
| TBCHTurtle Beach Corporation | — | −27,000 | — | exited | −0.02 pp | — |
| CHAPQChaparral Energy Inc-class A | — | −271,800 | — | exited | −0.01 pp | — |
Other 13(f) securities
Options
| Contract | % of notional | Shares | Notional |
|---|---|---|---|
| UBER CALL | 76.18% | 5,432,500 | $198M |
| CVS CALL | 23.22% | 1,034,500 | $60M |
| C CALL | 0.25% | 15,000 | $647,000 |
| BA CALL | 0.16% | 2,500 | $413,000 |
| TWTR CALL | 0.13% | 7,500 | $334,000 |
| MYL CALL | 0.06% | 10,000 | $148,000 |
Notes