Miller Value Partners
Picture
Moves
Options: 34 moves on a notional base, in the table below.
The book
- Very concentrated
- Concentrated
- Focused
- Diversified
- Low
- Moderate
- High
Top 5 positions
Positions
| OVVOvintiv Inc. | 5.45% | 1,949,091 | $90M | trimmed−2% | +0.52 pp | 4 q |
| AMZNAmazon.Com Inc | 4.77% | 694,974 | $79M | added+1% | +0.67 pp | 38 q |
| EXPEExpedia Group, Inc. | 4.56% | 801,273 | $75M | added+30% | +1.28 pp | 2 q |
| TEVATeva Pharmaceutical Industries Limited | 4.54% | 9,254,875 | $75M | trimmed−1% | +0.61 pp | 20 q |
| MATMattel, Inc. | 4.21% | 3,658,742 | $69M | trimmed−1% | −0.41 pp | 4 q |
| ETEnergy Transfer LP | 3.96% | 5,906,326 | $65M | added+1% | +0.69 pp | 16 q |
| GOOGLAlphabet Inc. Class A | 3.93% | 675,024 | $65M | added+1% | −0.16 pp | 22 q |
| OMFOneMain Holdings, Inc. | 3.83% | 2,136,592 | $63M | added+8% | −0.30 pp | 28 q |
| TMHCTaylor Morrison Home Corporation | 3.41% | 2,404,506 | $56M | trimmed−6% | +0.06 pp | 11 q |
| BABAAlibaba Group Holding Limited | 3.11% | 639,478 | $51M | trimmed−22% | −2.14 pp | 22 q |
| UBERUber Technologies, Inc. | 2.94% | 1,825,075 | $48M | added+16% | +1.13 pp | 9 q |
| DALDelta Air Lines, Inc. | 2.91% | 1,708,369 | $48M | added+2% | +0.20 pp | 38 q |
| NCLHNorwegian Cruise Line Holdings Ltd. | 2.84% | 4,115,507 | $47M | added+1% | +0.30 pp | 8 q |
| FISVFiserv, Inc. | 2.75% | 483,792 | $45M | trimmed−18% | −0.18 pp | 4 q |
| GMGeneral Motors Company | 2.67% | 1,367,658 | $44M | trimmed−3% | +0.16 pp | 7 q |
| CCitigroup Inc. | 2.63% | 1,036,628 | $43M | trimmed−4% | −0.17 pp | 38 q |
| FTCHQFarfetch Limited A | 2.58% | 5,699,351 | $42M | added+49% | +1.05 pp | 12 q |
| JPMJPMorgan Chase & Co. | 2.49% | 391,803 | $41M | added+1% | +0.03 pp | 17 q |
| ADTADT Inc. | 2.44% | 5,367,636 | $40M | trimmed−41% | −0.69 pp | 18 q |
| DXCDXC Technology Company | 2.38% | 1,596,605 | $39M | trimmed−39% | −2.08 pp | 12 q |
| METAMeta Platforms, Inc. Class A | 2.37% | 287,879 | $39M | trimmed−16% | −0.73 pp | 22 q |
| UALUnited Airlines Holdings, Inc. | 2.34% | 1,181,981 | $38M | trimmed−0% | −0.02 pp | 2 q |
| KRTXKaruna Therapeutics, Inc. | 2.33% | 170,335 | $38M | trimmed−24% | +0.75 pp | 7 q |
| CLFCleveland-Cliffs Inc. | 2.24% | 2,738,983 | $37M | added+5% | −0.01 pp | 4 q |
| FANGDiamondback Energy, Inc. | 2.17% | 295,651 | $36M | trimmed−31% | −0.75 pp | 8 q |
| COFCapital One Financial | 1.72% | 307,276 | $28M | trimmed−3% | −0.13 pp | 10 q |
| VNTVontier Corporation | 1.61% | 1,585,429 | $26M | trimmed−22% | −1.01 pp | 7 q |
| SOFISoFi Technologies, Inc. | 1.51% | 5,085,933 | $25M | added×2.3 | +0.86 pp | 7 q |
| SPLKSplunk Inc | 1.45% | 316,590 | $24M | trimmed−35% | −0.96 pp | 6 q |
| SICPSilvergate Capital Corp A | 1.19% | 259,760 | $20M | new | +1.19 pp | new |
| SFIXStitch Fix, Inc. Class A | 1.08% | 4,484,363 | $18M | new | +1.08 pp | new |
| COINCoinbase Global, Inc. Class A | 1.03% | 261,614 | $17M | trimmed−10% | +0.27 pp | 4 q |
| GOOSCanada Goose Holdings Inc. | 0.93% | 1,004,071 | $15M | added+13% | +0.04 pp | 11 q |
| BACBank of America Corporation | 0.78% | 423,292 | $13M | added0% | +0.05 pp | 38 q |
| BHCBausch Health Companies Inc | 0.65% | 1,555,658 | $11M | trimmed−39% | −0.55 pp | 17 q |
| BKEThe Buckle, Inc. | 0.51% | 266,200 | $8M | added×2.2 | +0.32 pp | 2 q |
| VTRSViatris Inc. | 0.49% | 943,500 | $8M | trimmed−3% | −0.08 pp | 7 q |
| CHSChicos FAS, Inc. | 0.46% | 1,564,362 | $8M | trimmed−16% | −0.06 pp | 14 q |
| ARLPAlliance Resource Partners LP | 0.45% | 324,000 | $7M | trimmed−27% | 0.00 pp | 8 q |
| VALEVale S.a. | 0.45% | 559,500 | $7M | trimmed−4% | −0.03 pp | 6 q |
| JXNJackson Financial Inc. | 0.44% | 259,525 | $7M | added+9% | +0.08 pp | 4 q |
| CCThe Chemours Company | 0.43% | 289,000 | $7M | trimmed−4% | −0.11 pp | 13 q |
| SPYState Street SPDR S&P 500 ETF Trust | 0.42% | 19,480 | $7M | trimmed−11% | −0.04 pp | 2 q |
| CTOCTO Realty Growth, Inc. | 0.41% | 360,000 | $7M | added+26% | +0.08 pp | 4 q |
| EXEExpand Energy Corporation | 0.29% | 50,000 | $5M | held | — | 2 q |
| OGNOrganon & Co. | 0.29% | 205,000 | $5M | trimmed−5% | −0.12 pp | 5 q |
| LAZLazard, Inc. | 0.27% | 137,200 | $4M | held | — | 10 q |
| RILYBRC Group Holdings, Inc. | 0.24% | 87,500 | $4M | added+9% | +0.05 pp | 3 q |
| MPTMedical Properties Trust, Inc. | 0.24% | 332,000 | $4M | new | +0.24 pp | new |
| 35OBSculptor Capital Management | 0.24% | 442,400 | $4M | added+5% | +0.04 pp | 13 q |
| NBRNabors Industries Ltd. | 0.24% | 38,726 | $4M | added+12% | −0.02 pp | 22 q |
| APOApollo Global Management, Inc. | 0.21% | 73,000 | $3M | trimmed−14% | −0.02 pp | 3 q |
| QUADQUAD/GRAPHICS, Inc. | 0.21% | 1,338,450 | $3M | added+23% | +0.04 pp | 15 q |
| GEOThe GEO Group, Inc. | 0.18% | 388,000 | $3M | added+8% | +0.05 pp | 10 q |
| TDAYUSA TODAY Co., Inc. | 0.18% | 1,973,225 | $3M | added+23% | −0.08 pp | 9 q |
| FTITechnipFMC plc | 0.18% | 353,570 | $3M | trimmed−17% | +0.02 pp | 3 q |
| SPGSimon Property Group, Inc. | 0.16% | 29,000 | $3M | held | — | 2 q |
| DCHDauch Corporation | 0.14% | 333,100 | $2M | added+1% | 0.00 pp | 3 q |
| PBIPitney Bowes Inc. | 0.12% | 861,884 | $2M | trimmed−51% | −0.24 pp | 15 q |
| TROWT Rowe Price Group Inc | 0.12% | 19,175 | $2M | new | +0.12 pp | new |
| APAMArtisan Partners Asset Management Inc. | 0.10% | 63,000 | $2M | added+15% | −0.01 pp | 2 q |
| CWHCamping World Holdings, Inc. | 0.10% | 67,000 | $2M | new | +0.10 pp | new |
| CNDTConduent Incorporated | 0.10% | 479,000 | $2M | trimmed−17% | −0.04 pp | 7 q |
| Microstrategy Incconvertible | 0.09% | 1,900,000 | $1M | new | +0.09 pp | new |
| TUPTupperware Brands Corporation | 0.09% | 213,775 | $1M | added+2% | +0.02 pp | 6 q |
| CROXCrocs, Inc. | 0.07% | 17,000 | $1M | added+42% | +0.04 pp | 2 q |
| TPCTutor Perini Corporation | 0.06% | 166,065 | $917,000 | added×10.3 | +0.05 pp | 3 q |
| WOOFoot Locker Inc | 0.04% | 21,335 | $664,000 | trimmed−51% | −0.02 pp | 3 q |
| DODiamond Offshore Drilling, Inc. | 0.03% | 70,000 | $464,000 | added+40% | +0.01 pp | 2 q |
| LPINVital Energy Inc | 0.03% | 7,500 | $471,000 | held | — | 2 q |
| PRDOPerdoceo Education Corporation | 0.03% | 55,000 | $566,000 | held | — | 6 q |
| YETIYETI Holdings, Inc. | 0.03% | 15,500 | $442,000 | trimmed−49% | −0.04 pp | 7 q |
| OPENOpendoor Technologies Inc | 0.02% | 103,000 | $320,000 | added×7.9 | +0.02 pp | 8 q |
| IHRTiHeartMedia, Inc. Class A | 0.01% | 30,000 | $220,000 | new | +0.01 pp | new |
| unresolvedAltus Power Inc | 0.00% | 10,000 | $30,000 | new | 0.00 pp | new |
| BCSBarclays PLC | 0.00% | 5,000 | $32,000 | new | 0.00 pp | new |
| unresolvedCredit Suisse Group Spon ADR | 0.00% | 5,000 | $20,000 | new | 0.00 pp | new |
| unresolvedDesktop Metal Inc | 0.00% | 10,000 | $26,000 | new | 0.00 pp | new |
| DSDrive Shack Inc. | 0.00% | 10,000 | $6,000 | held | — | 2 q |
| PRCHPorch Group, Inc. | 0.00% | 10,000 | $22,000 | new | 0.00 pp | new |
| QUOTQuotient Technology Inc | 0.00% | 10,000 | $23,000 | new | 0.00 pp | new |
| unresolved23ANDME Holding Co | 0.00% | 10,000 | $29,000 | new | 0.00 pp | new |
| VRMVroom, Inc. | 0.00% | 10,000 | $12,000 | new | 0.00 pp | new |
| unresolvedWheels Up Experience Inc | 0.00% | 10,000 | $11,000 | new | 0.00 pp | new |
| unresolvedWheels Up Experience Inc | 0.00% | 250,000 | $39,000 | held | — | 5 q |
| WW6Willis Towers Watson Public Limited Company | 0.00% | 10,000 | $39,000 | new | 0.00 pp | new |
| DBDeutsche Bank Aktiengesellschaft | 0.00% | 5,000 | $37,000 | new | 0.00 pp | new |
| PGENPrecigen, Inc. | — | −5,598,807 | — | exited | −0.42 pp | — |
| HRBH&R Block, Inc. | — | −154,500 | — | exited | −0.31 pp | — |
| 786Home Point Capital Inc | — | −1,014,045 | — | exited | −0.22 pp | — |
| TTTProShares UltraPro Short 20+ Year Treasury | — | −20,876 | — | exited | −0.07 pp | — |
| VIPSVipshop Holdings Limited | — | −108,000 | — | exited | −0.06 pp | — |
| WESWestern Midstream Partners, LP | — | −46,300 | — | exited | −0.06 pp | — |
| BBYD20230930-DK-BUTTERFLY-1 Inc | — | −136,150 | — | exited | −0.04 pp | — |
| ENDPQEndo International PLC | — | −1,045,525 | — | exited | −0.03 pp | — |
| CXWCoreCivic, Inc. | — | −35,000 | — | exited | −0.02 pp | — |
| unresolvedGreenidge Generation Hldgs I | — | −10,000 | — | exited | 0.00 pp | — |
| SDIGStronghold Digital Mining, Inc. Class A | — | −10,000 | — | exited | 0.00 pp | — |
| TMCWWTMC the metals company Inc. | — | −10,000 | — | exited | 0.00 pp | — |
| TALTAL Education Group | — | −10,000 | — | exited | 0.00 pp | — |
Other 13(f) securities
Options
| Contract | % of notional | Shares | Notional |
|---|---|---|---|
| DB CALL | 64.01% | 150,000 | $1M |
| BCS CALL | 13.49% | 36,500 | $234,000 |
| Credit Suisse Group Spon ADR CALL | 11.30% | 50,000 | $196,000 |
| PBI CALL | 6.75% | 50,000 | $117,000 |
| Desktop Metal Inc CALL | 4.44% | 29,900 | $77,000 |
Notes