Miller Value Partners
Picture
Moves
Options: 15 moves on a notional base, in the table below.
The book
- Very concentrated
- Concentrated
- Focused
- Diversified
- Low
- Moderate
- High
Top 5 positions
- trimmed−0.03
- added+0.71
- added+0.16
- added+0.75
- trimmed−0.23
Positions
| DXCDXC Technology Company | 4.62% | 4,552,781 | $177M | trimmed−13% | −0.03 pp | 7 q |
| ADTADT Inc. | 3.84% | 13,660,452 | $147M | added+5% | +0.71 pp | 13 q |
| AMZNAmazon.Com Inc | 3.59% | 40,101 | $138M | added+3% | +0.16 pp | 33 q |
| BABAAlibaba Group Holding Limited | 3.43% | 581,480 | $132M | added+40% | +0.75 pp | 17 q |
| OMFOneMain Holdings, Inc. | 3.38% | 2,168,425 | $130M | trimmed−8% | −0.23 pp | 23 q |
| SPLKSplunk Inc | 3.38% | 897,758 | $130M | new | +3.38 pp | new |
| FANGDiamondback Energy, Inc. | 3.12% | 1,276,224 | $120M | trimmed−7% | +0.27 pp | 3 q |
| FTCHQFarfetch Limited A | 3.06% | 2,330,938 | $117M | trimmed−0% | −0.46 pp | 7 q |
| NCLHNorwegian Cruise Line Holdings Ltd. | 3.06% | 3,988,706 | $117M | added+3% | +0.03 pp | 3 q |
| METAMeta Platforms, Inc. Class A | 3.01% | 332,285 | $116M | added+3% | +0.31 pp | 17 q |
| TEVATeva Pharmaceutical Industries Limited | 2.82% | 10,935,783 | $108M | added+4% | −0.64 pp | 15 q |
| VRMVroom, Inc. | 2.77% | 2,542,834 | $106M | trimmed−6% | −0.22 pp | 5 q |
| GMGeneral Motors Company | 2.68% | 1,739,246 | $103M | added+3% | −0.07 pp | 2 q |
| WW6Willis Towers Watson Public Limited Company | 2.65% | 2,816,493 | $102M | trimmed−6% | −0.01 pp | 3 q |
| GOOGLAlphabet Inc. Class A | 2.62% | 41,133 | $100M | added+2% | +0.25 pp | 17 q |
| HWAYTivity Health Inc | 2.56% | 3,739,529 | $98M | added+5% | +0.31 pp | 9 q |
| BHCBausch Health Companies Inc | 2.54% | 3,330,390 | $98M | added+3% | −0.38 pp | 12 q |
| COFCapital One Financial | 2.52% | 624,657 | $97M | trimmed−4% | +0.17 pp | 5 q |
| ETEnergy Transfer LP | 2.41% | 8,703,020 | $93M | added0% | +0.52 pp | 11 q |
| AYIAcuity Inc. | 2.39% | 491,432 | $92M | trimmed−21% | −0.52 pp | 4 q |
| SFIXStitch Fix, Inc. Class A | 2.29% | 1,459,835 | $88M | added+3% | +0.30 pp | 15 q |
| REALThe RealReal, Inc. | 2.12% | 4,110,723 | $81M | added+18% | −0.11 pp | 6 q |
| TMHCTaylor Morrison Home Corporation | 2.01% | 2,927,893 | $77M | trimmed−6% | −0.71 pp | 6 q |
| GOOSCanada Goose Holdings Inc. | 1.98% | 1,739,327 | $76M | trimmed−4% | −0.03 pp | 6 q |
| BACBank of America Corporation | 1.88% | 1,749,538 | $72M | trimmed−5% | −0.14 pp | 33 q |
| JPMJPMorgan Chase & Co. | 1.84% | 454,126 | $71M | added+1% | −0.10 pp | 12 q |
| CCThe Chemours Company | 1.78% | 1,959,314 | $68M | trimmed−13% | +0.01 pp | 8 q |
| VNTVontier Corporation | 1.74% | 2,050,245 | $67M | added+7% | +0.09 pp | 2 q |
| DALDelta Air Lines, Inc. | 1.62% | 1,435,578 | $62M | added0% | −0.35 pp | 33 q |
| RKTRocket Companies, Inc. | 1.62% | 3,215,504 | $62M | added+7% | −0.36 pp | 4 q |
| QUOTQuotient Technology Inc | 1.61% | 5,709,818 | $62M | trimmed−10% | −1.33 pp | 23 q |
| UBERUber Technologies, Inc. | 1.58% | 1,209,422 | $61M | added+2% | −0.26 pp | 4 q |
| PGENPrecigen, Inc. | 1.57% | 9,257,868 | $60M | added+2% | −0.21 pp | 31 q |
| unresolvedDesktop Metal Inc | 1.52% | 5,091,748 | $59M | trimmed−14% | −0.99 pp | 3 q |
| unresolvedMetromile Inc | 1.52% | 6,374,111 | $58M | added×9.3 | +1.32 pp | 2 q |
| CCitigroup Inc. | 1.29% | 700,830 | $50M | added0% | −0.15 pp | 33 q |
| SOFISoFi Technologies, Inc. | 1.27% | 2,551,201 | $49M | added×6.4 | +1.08 pp | 2 q |
| BABoeing Company | 1.26% | 201,174 | $48M | trimmed−8% | −0.31 pp | 6 q |
| KRTXKaruna Therapeutics, Inc. | 0.88% | 297,289 | $34M | added+2% | −0.11 pp | 2 q |
| COINCoinbase Global, Inc. Class A | 0.80% | 121,185 | $31M | new | +0.80 pp | new |
| BIIBBiogen Inc. | 0.72% | 79,493 | $28M | new | +0.72 pp | new |
| unresolvedZiopharm Oncology Inc | 0.71% | 10,317,698 | $27M | trimmed−13% | −0.50 pp | 26 q |
| TUPTupperware Brands Corporation | 0.48% | 771,712 | $18M | new | +0.48 pp | new |
| WESWestern Midstream Partners, LP | 0.46% | 816,500 | $17M | new | +0.46 pp | new |
| CHSChicos FAS, Inc. | 0.40% | 2,305,607 | $15M | trimmed−28% | +0.10 pp | 9 q |
| unresolvedGores Holdings Vi Inc | 0.36% | 804,295 | $14M | trimmed−1% | +0.02 pp | 2 q |
| APONApollo Asset Management Inc | 0.34% | 211,785 | $13M | trimmed−17% | 0.00 pp | 8 q |
| VALEVale S.a. | 0.29% | 485,000 | $11M | new | +0.29 pp | new |
| unresolvedChimera Investment Corp | 0.28% | 704,400 | $11M | held | — | 4 q |
| PBIPitney Bowes Inc. | 0.28% | 1,216,959 | $11M | added+19% | +0.04 pp | 10 q |
| UPROProShares UltraPro S&P 500 | 0.27% | 91,800 | $10M | held | — | 10 q |
| HRBH&R Block, Inc. | 0.26% | 420,000 | $10M | held | — | 2 q |
| VTRSViatris Inc. | 0.23% | 625,000 | $9M | added+25% | +0.03 pp | 2 q |
| NBRNabors Industries Ltd. | 0.19% | 63,996 | $7M | trimmed−2% | +0.02 pp | 17 q |
| LAZLazard, Inc. | 0.16% | 133,200 | $6M | held | — | 5 q |
| unresolvedOne | 0.16% | 607,219 | $6M | added+1% | −0.04 pp | 2 q |
| TDAYUSA TODAY Co., Inc. | 0.14% | 969,050 | $5M | added+43% | +0.04 pp | 4 q |
| CGThe Carlyle Group Inc. | 0.13% | 105,000 | $5M | trimmed−22% | −0.01 pp | 6 q |
| 35OBSculptor Capital Management | 0.13% | 207,400 | $5M | held | — | 8 q |
| YETIYETI Holdings, Inc. | 0.11% | 46,700 | $4M | held | — | 2 q |
| DBDDiebold Nixdorf, Incorporated | 0.10% | 305,250 | $4M | added+33% | +0.01 pp | 10 q |
| 786Home Point Capital Inc | 0.09% | 614,045 | $4M | added×40.5 | +0.09 pp | 2 q |
| MFAMFA Financial, Inc | 0.09% | 773,850 | $4M | new | +0.09 pp | new |
| TNNTenneco Inc-class A | 0.08% | 168,875 | $3M | added×2.3 | +0.06 pp | 2 q |
| ENDPQEndo International PLC | 0.08% | 640,075 | $3M | added×2.0 | +0.01 pp | 21 q |
| EBAYeBay Inc | 0.07% | 39,525 | $3M | added+68% | +0.03 pp | 5 q |
| GEOThe GEO Group, Inc. | 0.07% | 360,000 | $3M | trimmed−60% | −0.13 pp | 5 q |
| BBYD20230930-DK-BUTTERFLY-1 Inc | 0.06% | 73,940 | $2M | added+14% | +0.01 pp | 13 q |
| BHFBrighthouse Financial, Inc. | 0.06% | 54,224 | $2M | trimmed−2% | −0.01 pp | 13 q |
| CNDTConduent Incorporated | 0.06% | 320,000 | $2M | added+22% | +0.01 pp | 2 q |
| VIPSVipshop Holdings Limited | 0.06% | 117,000 | $2M | new | +0.06 pp | new |
| ARLPAlliance Resource Partners LP | 0.05% | 250,700 | $2M | trimmed−7% | +0.01 pp | 3 q |
| APTSPreferred Apartment Communities, Inc. | 0.05% | 210,000 | $2M | new | +0.05 pp | new |
| QUADQUAD/GRAPHICS, Inc. | 0.05% | 477,800 | $2M | held | — | 10 q |
| UNMUnum Group | 0.04% | 57,250 | $2M | added+5% | 0.00 pp | 3 q |
| unresolvedAudacy Inc | 0.03% | 224,800 | $969,000 | new | +0.03 pp | new |
| BIDUBaidu, Inc. | 0.02% | 3,000 | $612,000 | new | +0.02 pp | new |
| PRDOPerdoceo Education Corporation | 0.02% | 60,000 | $736,000 | new | +0.02 pp | new |
| RVLVRevolve Group, Inc. | 0.02% | 12,417 | $856,000 | trimmed−14% | 0.00 pp | 3 q |
| TWTRTwitter, Inc. | 0.02% | 12,333 | $849,000 | trimmed−20% | −0.01 pp | 26 q |
| ATCOAtlas Corp | 0.02% | 58,436 | $833,000 | trimmed−92% | −0.27 pp | 6 q |
| ARAntero Resources Corporation | 0.01% | 14,225 | $214,000 | trimmed−25% | 0.00 pp | 9 q |
| CLFCleveland-Cliffs Inc. | 0.01% | 9,698 | $209,000 | trimmed−12% | 0.00 pp | 8 q |
| CMPSCOMPASS Pathways Plc American Depository Shares | 0.01% | 8,000 | $305,000 | held | — | 3 q |
| CXWCoreCivic, Inc. | 0.01% | 35,000 | $366,000 | held | — | 5 q |
| JDJD.com, Inc. | 0.01% | 6,525 | $521,000 | held | — | 5 q |
| MSTRStrategy Inc Class A | 0.01% | 663 | $441,000 | held | — | 3 q |
| OPENOpendoor Technologies Inc | 0.01% | 13,000 | $230,000 | trimmed−13% | 0.00 pp | 3 q |
| UAUnder Armour, Inc. Class C, $0.0003 1/3 par value | 0.01% | 25,700 | $477,000 | held | — | 7 q |
| UISUnisys Corporation | 0.01% | 9,600 | $243,000 | trimmed−68% | −0.01 pp | 14 q |
| WFCWells Fargo & Co. | 0.01% | 7,700 | $349,000 | trimmed−42% | 0.00 pp | 4 q |
| unresolvedAspirational Consumer Lifest | 0.01% | 250,000 | $480,000 | held | — | 2 q |
| SIGSignet Jewelers Limited | 0.01% | 4,775 | $386,000 | trimmed−17% | 0.00 pp | 10 q |
| BKDBrookdale Senior Living, Inc. | 0.00% | 20,000 | $158,000 | held | — | 3 q |
| CDEVPermian Resources Corporation | 0.00% | 25,000 | $169,000 | held | — | 3 q |
| ERFEnerplus Corporation | 0.00% | 20,000 | $144,000 | held | — | 5 q |
| OXY/WSOccidental Petroleum Corporation Warrants to Purchase | 0.00% | 10,000 | $139,000 | held | — | 4 q |
| unresolvedSofi Technologies Inc | 0.00% | 20,000 | $170,000 | new | 0.00 pp | new |
| unresolved23ANDME Holding Co | 0.00% | 40,000 | $121,000 | new | 0.00 pp | new |
| TMCWWTMC the metals company Inc. | 0.00% | 10,000 | $14,000 | new | 0.00 pp | new |
| WDAYWorkday, Inc. Class A | — | −205,473 | — | exited | −1.45 pp | — |
| DISCADiscovery, Inc. Series A | — | −891,875 | — | exited | −1.10 pp | — |
| unresolvedFlexion Therapeutics Inc | — | −4,101,735 | — | exited | −1.04 pp | — |
| RBLXRoblox Corporation | — | −256,715 | — | exited | −0.47 pp | — |
| unresolvedGty Technology Holdings Inc | — | −1,957,888 | — | exited | −0.36 pp | — |
| ZDZiff Davis, Inc. | — | −13,270 | — | exited | −0.05 pp | — |
| ETMEntercom Communications | — | −224,800 | — | exited | −0.03 pp | — |
| unresolvedSocial Capital Hedosopha Hld | — | −15,000 | — | exited | 0.00 pp | — |
| unresolvedVg Acquisition Corp | — | −30,000 | — | exited | 0.00 pp | — |
Other 13(f) securities
Options
| Contract | % of notional | Shares | Notional |
|---|---|---|---|
| AMZN CALL | 62.30% | 65,200 | $224M |
| UBER CALL | 34.34% | 2,466,600 | $124M |
| F CALL | 0.70% | 170,000 | $3M |
| DB CALL | 0.36% | 100,000 | $1M |
| TWTR CALL | 0.33% | 17,500 | $1M |
| T CALL | 0.32% | 40,000 | $1M |
| KHC CALL | 0.23% | 20,000 | $816,000 |
| VTRS CALL | 0.16% | 40,000 | $572,000 |
| WBA CALL | 0.15% | 10,000 | $526,000 |
| MO CALL | 0.13% | 10,000 | $477,000 |
| BIDU CALL | 0.11% | 2,000 | $408,000 |
| ADT CALL | 0.09% | 30,000 | $324,000 |
| CXW CALL | 0.09% | 30,000 | $314,000 |
| Credit Suisse Group Spon ADR CALL | 0.09% | 30,000 | $315,000 |
| MSTR CALL | 0.09% | 500 | $332,000 |
| TAK CALL | 0.09% | 20,000 | $337,000 |
| BHF CALL | 0.08% | 10,000 | $293,000 |
| PBI CALL | 0.07% | 30,000 | $263,000 |
| CPNG CALL | 0.06% | 5,000 | $209,000 |
| M CALL | 0.05% | 10,000 | $190,000 |
| VOD CALL | 0.05% | 10,000 | $171,000 |
| LUMN CALL | 0.04% | 10,000 | $136,000 |
| ET CALL | 0.03% | 10,000 | $106,000 |
| TEVA CALL | 0.03% | 10,000 | $99,000 |
Notes