Miller Value Partners
Picture
Moves
Options: 13 moves on a notional base, in the table below.
The book
- Very concentrated
- Concentrated
- Focused
- Diversified
- Low
- Moderate
- High
Top 5 positions
- trimmed−0.01
- trimmed−0.33
- trimmed−1.69
- added+1.13
- trimmed−0.90
Positions
| DXCDXC Technology Company | 4.65% | 5,241,679 | $164M | trimmed−2% | −0.01 pp | 6 q |
| OMFOneMain Holdings, Inc. | 3.61% | 2,365,694 | $127M | trimmed−2% | −0.33 pp | 22 q |
| FTCHQFarfetch Limited A | 3.52% | 2,338,240 | $124M | trimmed−3% | −1.69 pp | 6 q |
| TEVATeva Pharmaceutical Industries Limited | 3.46% | 10,554,065 | $122M | added+48% | +1.13 pp | 14 q |
| AMZNAmazon.Com Inc | 3.43% | 39,060 | $121M | trimmed−1% | −0.90 pp | 32 q |
| ADTADT Inc. | 3.13% | 13,046,500 | $110M | added+4% | −0.20 pp | 12 q |
| NCLHNorwegian Cruise Line Holdings Ltd. | 3.03% | 3,870,545 | $107M | added+48% | +0.79 pp | 2 q |
| VRMVroom, Inc. | 2.99% | 2,703,391 | $105M | added+29% | +0.09 pp | 4 q |
| QUOTQuotient Technology Inc | 2.94% | 6,333,872 | $103M | trimmed−1% | +0.89 pp | 22 q |
| BHCBausch Health Companies Inc | 2.92% | 3,240,421 | $103M | trimmed−5% | +0.50 pp | 11 q |
| AYIAcuity Inc. | 2.91% | 620,725 | $102M | trimmed−5% | +0.22 pp | 3 q |
| FANGDiamondback Energy, Inc. | 2.85% | 1,366,961 | $100M | added×2.4 | +1.90 pp | 2 q |
| GMGeneral Motors Company | 2.75% | 1,687,140 | $97M | new | +2.75 pp | new |
| TMHCTaylor Morrison Home Corporation | 2.72% | 3,110,662 | $96M | trimmed−4% | −0.09 pp | 5 q |
| METAMeta Platforms, Inc. Class A | 2.70% | 323,532 | $95M | trimmed−9% | −0.57 pp | 16 q |
| BABAAlibaba Group Holding Limited | 2.68% | 416,484 | $94M | added+6% | −0.42 pp | 16 q |
| WW6Willis Towers Watson Public Limited Company | 2.66% | 2,992,974 | $94M | added+14% | +0.50 pp | 2 q |
| unresolvedDesktop Metal Inc | 2.51% | 5,924,372 | $88M | trimmed−25% | −1.74 pp | 2 q |
| GOOGLAlphabet Inc. Class A | 2.37% | 40,455 | $83M | trimmed−2% | −0.07 pp | 16 q |
| COFCapital One Financial | 2.35% | 651,507 | $83M | trimmed−6% | +0.03 pp | 4 q |
| HWAYTivity Health Inc | 2.25% | 3,548,328 | $79M | added+17% | +0.24 pp | 8 q |
| REALThe RealReal, Inc. | 2.23% | 3,477,623 | $79M | trimmed−9% | −0.28 pp | 5 q |
| BACBank of America Corporation | 2.02% | 1,839,854 | $71M | trimmed−0% | +0.13 pp | 32 q |
| GOOSCanada Goose Holdings Inc. | 2.01% | 1,804,876 | $71M | trimmed−5% | +0.09 pp | 5 q |
| SFIXStitch Fix, Inc. Class A | 1.99% | 1,417,334 | $70M | trimmed−33% | −2.21 pp | 14 q |
| RKTRocket Companies, Inc. | 1.98% | 3,013,506 | $70M | trimmed−18% | −0.53 pp | 3 q |
| DALDelta Air Lines, Inc. | 1.97% | 1,434,357 | $69M | trimmed−1% | 0.00 pp | 32 q |
| JPMJPMorgan Chase & Co. | 1.94% | 448,126 | $68M | trimmed−0% | +0.01 pp | 11 q |
| ETEnergy Transfer LP | 1.89% | 8,687,085 | $67M | added+12% | +0.27 pp | 10 q |
| UBERUber Technologies, Inc. | 1.84% | 1,190,216 | $65M | trimmed−3% | −0.28 pp | 3 q |
| PGENPrecigen, Inc. | 1.78% | 9,101,475 | $63M | added+28% | −0.68 pp | 30 q |
| CCThe Chemours Company | 1.77% | 2,239,806 | $63M | trimmed−1% | −0.12 pp | 7 q |
| VNTVontier Corporation | 1.65% | 1,925,037 | $58M | new | +1.65 pp | new |
| BABoeing Company | 1.57% | 217,533 | $55M | trimmed−1% | −0.01 pp | 5 q |
| WDAYWorkday, Inc. Class A | 1.45% | 205,473 | $51M | added+3% | −0.17 pp | 4 q |
| CCitigroup Inc. | 1.44% | 699,524 | $51M | trimmed−8% | −0.15 pp | 32 q |
| unresolvedZiopharm Oncology Inc | 1.21% | 11,834,667 | $43M | trimmed−5% | +0.15 pp | 25 q |
| DISCADiscovery, Inc. Series A | 1.10% | 891,875 | $39M | trimmed−48% | −0.65 pp | 14 q |
| unresolvedFlexion Therapeutics Inc | 1.04% | 4,101,735 | $37M | trimmed−2% | −0.60 pp | 16 q |
| KRTXKaruna Therapeutics, Inc. | 0.99% | 291,239 | $35M | new | +0.99 pp | new |
| RBLXRoblox Corporation | 0.47% | 256,715 | $17M | new | +0.47 pp | new |
| unresolvedGty Technology Holdings Inc | 0.36% | 1,957,888 | $13M | added0% | +0.02 pp | 9 q |
| APONApollo Asset Management Inc | 0.34% | 256,285 | $12M | added+4% | −0.07 pp | 7 q |
| unresolvedGores Holdings Vi Inc | 0.34% | 813,608 | $12M | new | +0.34 pp | new |
| CHSChicos FAS, Inc. | 0.30% | 3,198,582 | $11M | trimmed−24% | +0.07 pp | 8 q |
| ATCOAtlas Corp | 0.29% | 751,379 | $10M | trimmed−32% | −0.12 pp | 5 q |
| HRBH&R Block, Inc. | 0.26% | 420,000 | $9M | new | +0.26 pp | new |
| unresolvedChimera Investment Corp | 0.25% | 704,400 | $9M | added+70% | +0.11 pp | 3 q |
| PBIPitney Bowes Inc. | 0.24% | 1,023,669 | $8M | trimmed−26% | −0.05 pp | 9 q |
| UPROProShares UltraPro S&P 500 | 0.24% | 91,800 | $8M | held | — | 9 q |
| GEOThe GEO Group, Inc. | 0.20% | 890,600 | $7M | added+8% | −0.05 pp | 4 q |
| unresolvedMetromile Inc | 0.20% | 685,532 | $7M | new | +0.20 pp | new |
| VTRSViatris Inc. | 0.20% | 500,000 | $7M | new | +0.20 pp | new |
| unresolvedOne | 0.20% | 599,889 | $7M | new | +0.20 pp | new |
| SOFISoFi Technologies, Inc. | 0.19% | 396,488 | $7M | new | +0.19 pp | new |
| NBRNabors Industries Ltd. | 0.17% | 65,296 | $6M | added+22% | +0.06 pp | 16 q |
| LAZLazard, Inc. | 0.16% | 133,200 | $6M | held | — | 4 q |
| CGThe Carlyle Group Inc. | 0.14% | 135,260 | $5M | trimmed−29% | −0.06 pp | 5 q |
| 35OBSculptor Capital Management | 0.13% | 207,400 | $5M | held | — | 7 q |
| TDAYUSA TODAY Co., Inc. | 0.10% | 679,575 | $4M | added+51% | +0.05 pp | 3 q |
| YETIYETI Holdings, Inc. | 0.10% | 46,700 | $3M | new | +0.10 pp | new |
| DBDDiebold Nixdorf, Incorporated | 0.09% | 230,250 | $3M | trimmed−9% | 0.00 pp | 9 q |
| BHFBrighthouse Financial, Inc. | 0.07% | 55,399 | $2M | added+41% | +0.02 pp | 12 q |
| ENDPQEndo International PLC | 0.07% | 315,425 | $2M | added+7% | 0.00 pp | 20 q |
| BBYD20230930-DK-BUTTERFLY-1 Inc | 0.05% | 64,845 | $2M | trimmed−12% | +0.01 pp | 12 q |
| CNDTConduent Incorporated | 0.05% | 262,950 | $2M | new | +0.05 pp | new |
| ZDZiff Davis, Inc. | 0.05% | 13,270 | $2M | trimmed−2% | +0.01 pp | 4 q |
| QUADQUAD/GRAPHICS, Inc. | 0.05% | 477,800 | $2M | held | — | 9 q |
| ARLPAlliance Resource Partners LP | 0.04% | 270,700 | $2M | trimmed−2% | 0.00 pp | 2 q |
| EBAYeBay Inc | 0.04% | 23,525 | $1M | trimmed−2% | 0.00 pp | 4 q |
| UNMUnum Group | 0.04% | 54,485 | $2M | added×4.9 | +0.03 pp | 2 q |
| ETMEntercom Communications | 0.03% | 224,800 | $1M | trimmed−1% | +0.01 pp | 7 q |
| TWTRTwitter, Inc. | 0.03% | 15,333 | $976,000 | added+8% | 0.00 pp | 25 q |
| JDJD.com, Inc. | 0.02% | 6,525 | $550,000 | trimmed−4% | 0.00 pp | 4 q |
| RVLVRevolve Group, Inc. | 0.02% | 14,417 | $648,000 | trimmed−28% | 0.00 pp | 2 q |
| TNNTenneco Inc-class A | 0.02% | 73,950 | $793,000 | new | +0.02 pp | new |
| UISUnisys Corporation | 0.02% | 29,740 | $756,000 | trimmed−11% | 0.00 pp | 13 q |
| ARAntero Resources Corporation | 0.01% | 18,900 | $193,000 | trimmed−2% | +0.01 pp | 8 q |
| CLFCleveland-Cliffs Inc. | 0.01% | 11,073 | $223,000 | trimmed−22% | 0.00 pp | 7 q |
| CMPSCOMPASS Pathways Plc American Depository Shares | 0.01% | 8,000 | $295,000 | held | — | 2 q |
| CXWCoreCivic, Inc. | 0.01% | 35,000 | $317,000 | held | — | 4 q |
| MSTRStrategy Inc Class A | 0.01% | 663 | $450,000 | trimmed−81% | −0.04 pp | 2 q |
| OPENOpendoor Technologies Inc | 0.01% | 15,000 | $318,000 | added+15% | 0.00 pp | 2 q |
| UAUnder Armour, Inc. Class C, $0.0003 1/3 par value | 0.01% | 25,700 | $474,000 | trimmed−37% | −0.01 pp | 6 q |
| WFCWells Fargo & Co. | 0.01% | 13,290 | $519,000 | added+6% | 0.00 pp | 3 q |
| unresolvedAspirational Consumer Lifest | 0.01% | 250,000 | $354,000 | new | +0.01 pp | new |
| SIGSignet Jewelers Limited | 0.01% | 5,785 | $335,000 | trimmed−86% | −0.03 pp | 9 q |
| BKDBrookdale Senior Living, Inc. | 0.00% | 20,000 | $121,000 | added×2.0 | 0.00 pp | 2 q |
| CDEVPermian Resources Corporation | 0.00% | 25,000 | $105,000 | added+25% | 0.00 pp | 2 q |
| ERFEnerplus Corporation | 0.00% | 20,000 | $100,000 | added×2.0 | 0.00 pp | 4 q |
| 786Home Point Capital Inc | 0.00% | 15,153 | $141,000 | new | 0.00 pp | new |
| OXY/WSOccidental Petroleum Corporation Warrants to Purchase | 0.00% | 10,000 | $119,000 | held | — | 3 q |
| unresolvedSocial Capital Hedosopha Hld | 0.00% | 15,000 | $82,000 | new | 0.00 pp | new |
| unresolvedVg Acquisition Corp | 0.00% | 30,000 | $50,000 | new | 0.00 pp | new |
| NFLXNetFlix Inc | — | −65,266 | — | exited | −1.19 pp | — |
| GNWGenworth Financial, Inc. | — | −7,289,100 | — | exited | −0.93 pp | — |
| unresolvedInsu Acquisition Corp II | — | −749,762 | — | exited | −0.39 pp | — |
| GMEGameStop Corp. Class A | — | −115,835 | — | exited | −0.07 pp | — |
| MSGNMSG Networks Inc. | — | −62,000 | — | exited | −0.03 pp | — |
| ANFAbercrombie & Fitch Co. | — | −25,000 | — | exited | −0.02 pp | — |
| MAXRMaxar Technologies Inc. | — | −8,815 | — | exited | −0.01 pp | — |
| CVSCvs Health Corporation | — | −1,899 | — | exited | 0.00 pp | — |
Other 13(f) securities
Options
| Contract | % of notional | Shares | Notional |
|---|---|---|---|
| AMZN CALL | 57.48% | 63,300 | $196M |
| UBER CALL | 40.67% | 2,542,500 | $139M |
| F CALL | 0.29% | 80,000 | $980,000 |
| KHC CALL | 0.23% | 20,000 | $800,000 |
| T CALL | 0.18% | 20,000 | $605,000 |
| WBA CALL | 0.16% | 10,000 | $549,000 |
| MO CALL | 0.15% | 10,000 | $512,000 |
| DB CALL | 0.14% | 40,000 | $480,000 |
| BHC CALL | 0.09% | 10,000 | $317,000 |
| Credit Suisse Group Spon ADR CALL | 0.09% | 30,000 | $318,000 |
| CXW CALL | 0.08% | 30,000 | $272,000 |
| VTRS CALL | 0.08% | 20,000 | $279,000 |
| ADT CALL | 0.05% | 20,000 | $169,000 |
| M CALL | 0.05% | 10,000 | $162,000 |
| PBI CALL | 0.05% | 20,000 | $165,000 |
| TAK CALL | 0.05% | 10,000 | $183,000 |
| VOD CALL | 0.05% | 10,000 | $184,000 |
| LUMN CALL | 0.04% | 10,000 | $134,000 |
| TEVA CALL | 0.03% | 10,000 | $115,000 |
| ET CALL | 0.02% | 10,000 | $77,000 |
Notes