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Miller Value Partners

Miller Value Partners – инвестиционный фонд, под управлением знаменитого инвестора Билла Миллера. Миллер в течение 15 лет – с 1991 по 2005 годы показывал доходность выше индекса S&P 500, управляя фондом Legg Mason Value Trust.

Активы под управлением – более 4 миллиардов долларов.

Среднегодовая доходность – немного (1-2% в зависимости от стратегии) выше, чем доходность S&P 500 с момента основания.

Стратегия – инвестиции в недооцененные акции роста.

Инвестиционный портфель Miller Value Partners на 30 сентября 2021 года (опубликован 15 ноября 2021 года)

Компания Финансовый инструмент CUSIP Стоимость (x$1000) Количество акций   Опционы PUT/CALL
23ANDME HOLDING CO *W EXP 06/16/202 90138Q116 74 40,000 SH   SOLE   40,000 0 0
ACUITY BRANDS INC COM 00508Y102 52,055 300,256 SH   SOLE   295,155 0 5,101
ADT INC DEL COM 00090Q103 96,840 11,970,339 SH   SOLE   11,784,025 0 186,314
ADT INC DEL COM 00090Q103 243 30,000 SH Call SOLE   30,000 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 93,680 632,761 SH   SOLE   621,702 0 11,059
ALLIANCE RESOURCE PARTNERS L UT LTD PART 01877R108 3,540 325,700 SH   SOLE   325,700 0 0
ALPHABET INC CAP STK CL A 02079K305 106,494 39,833 SH   SOLE   39,114 0 719
ALTRIA GROUP INC COM 02209S103 455 10,000 SH Call SOLE   10,000 0 0
AMAZON COM INC COM 023135106 119,096 36,254 SH   SOLE   35,473 0 781
AMAZON COM INC COM 023135106 192,832 58,700 SH Call SOLE   58,700 0 0
ANTERO RESOURCES CORP COM 03674X106 238 12,665 SH   SOLE   9,715 0 2,950
APOLLO GLOBAL MGMT INC COM CL A 03768E105 6,436 104,500 SH   SOLE   104,500 0 0
AT&T INC COM 00206R102 1,080 40,000 SH Call SOLE   40,000 0 0
AUDACY INC CL A 05070N103 790 214,800 SH   SOLE   214,800 0 0
BAIDU INC SPON ADR REP A 056752108 461 3,000 SH   SOLE   3,000 0 0
BAIDU INC SPON ADR REP A 056752108 769 5,000 SH Call SOLE   5,000 0 0
BAUSCH HEALTH COS INC COM 071734107 83,435 2,995,889 SH   SOLE   2,945,965 0 49,924
BAUSCH HEALTH COS INC COM 071734107 557 20,000 SH Call SOLE   20,000 0 0
BED BATH & BEYOND INC COM 075896100 1,473 85,245 SH   SOLE   73,670 0 11,575
BK OF AMERICA CORP COM 060505104 66,149 1,558,279 SH   SOLE   1,528,855 0 29,424
BLOCK H & R INC COM 093671105 9,750 390,000 SH   SOLE   390,000 0 0
BRIGHTHOUSE FINL INC COM 10922N103 2,183 48,269 SH   SOLE   41,644 0 6,625
BROOKDALE SR LIVING INC COM 112463104 126 20,000 SH   SOLE   20,000 0 0
CANADA GOOSE HLDGS INC SHS SUB VTG 135086106 55,559 1,557,592 SH   SOLE   1,530,710 0 26,882
CAPITAL ONE FINL CORP COM 14040H105 80,160 494,906 SH   SOLE   486,230 0 8,676
CARLYLE GROUP INC COM 14316J108 4,964 105,000 SH   SOLE   105,000 0 0
CARNIVAL CORP UNIT 99/99/9999 143658300 250 10,000 SH Call SOLE   10,000 0 0
CENTENNIAL RESOURCE DEV INC CL A 15136A102 134 20,000 SH   SOLE   20,000 0 0
CHEMOURS CO COM 163851108 42,004 1,445,447 SH   SOLE   1,427,820 0 17,627
CHICOS FAS INC COM 168615102 9,175 2,043,482 SH   SOLE   1,988,650 0 54,832
CHIMERA INVT CORP COM NEW 16934Q208 9,748 656,400 SH   SOLE   656,400 0 0
CITIGROUP INC COM NEW 172967424 33,927 483,421 SH   SOLE   475,385 0 8,036
COMPASS PATHWAYS PLC SPONSORED ADS 20451W101 239 8,000 SH   SOLE   8,000 0 0
CONDUENT INC COM 206787103 2,109 320,000 SH   SOLE   275,800 0 44,200
CORECIVIC INC COM 21871N101 311 35,000 SH   SOLE   35,000 0 0
CORECIVIC INC COM 21871N101 267 30,000 SH Call SOLE   30,000 0 0
CREDIT SUISSE GROUP SPONSORED ADR 225401108 789 80,000 SH Call SOLE   80,000 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 68,957 1,618,328 SH   SOLE   1,591,295 0 27,033
DESKTOP METAL INC COM CL A 25058X105 215 30,000 SH Call SOLE   30,000 0 0
DEUTSCHE BANK A G NAMEN AKT D18190898 2,159 170,000 SH Call SOLE   170,000 0 0
DIAMONDBACK ENERGY INC COM 25278X109 94,226 995,316 SH   SOLE   978,115 0 17,201
DIEBOLD NIXDORF INC COM STK 253651103 4,795 474,250 SH   SOLE   474,250 0 0
DXC TECHNOLOGY CO COM 23355L106 117,952 3,509,419 SH   SOLE   3,447,210 0 62,209
EBAY INC. COM 278642103 2,754 39,525 SH   SOLE   39,525 0 0
ENDO INTL PLC SHS G30401106 2,994 924,000 SH   SOLE   810,750 0 113,250
ENERGY TRANSFER L P COM UT LTD PTN 29273V100 74,576 7,784,599 SH   SOLE   7,656,627 0 127,972
ENERGY TRANSFER L P COM UT LTD PTN 29273V100 96 10,000 SH Call SOLE   10,000 0 0
ENERPLUS CORP COM 292766102 80 10,000 SH   SOLE   10,000 0 0
FACEBOOK INC CL A 30303M102 101,667 299,560 SH   SOLE   294,615 0 4,945
FARFETCH LTD ORD SH CL A 30744W107 69,484 1,853,901 SH   SOLE   1,824,275 0 29,626
FORD MTR CO DEL COM 345370860 2,407 170,000 SH Call SOLE   170,000 0 0
GANNETT CO INC COM 36472T109 6,673 998,950 SH   SOLE   862,500 0 136,450
GENERAL MTRS CO COM 37045V100 69,667 1,321,687 SH   SOLE   1,299,195 0 22,492
GEO GROUP INC NEW COM 36162J106 2,689 360,000 SH   SOLE   360,000 0 0
HERBALIFE NUTRITION LTD COM SHS G4412G101 70,919 1,673,421 SH   SOLE   1,645,880 0 27,541
HOME PT CAPITAL INCORPORATED COM 43734L106 4,178 1,014,045 SH   SOLE   1,014,045 0 0
ISHARES TR 20 YR TR BD ETF 464287432 702,622 4,868,500 SH Call SOLE   4,868,500 0 0
JD.COM INC SPON ADR CL A 47215P106 1,764 24,424 SH   SOLE   9,735 0 14,689
JD.COM INC SPON ADR CL A 47215P106 365,029 5,053,000 SH Call SOLE   5,053,000 0 0
JPMORGAN CHASE & CO COM 46625H100 73,982 451,963 SH   SOLE   444,235 0 7,728
KARUNA THERAPEUTICS INC COM 48576A100 29,289 239,425 SH   SOLE   235,525 0 3,900
KRAFT HEINZ CO COM 500754106 736 20,000 SH Call SOLE   20,000 0 0
LAZARD LTD SHS A G54050102 5,597 122,200 SH   SOLE   122,200 0 0
LUMEN TECHNOLOGIES INC COM 550241103 124 10,000 SH Call SOLE   10,000 0 0
MACYS INC COM 55616P104 226 10,000 SH Call SOLE   10,000 0 0
MATTERPORT INC COM CL A 577096100 65,992 3,489,786 SH   SOLE   3,431,510 0 58,276
METROMILE INC COM 591697107 28,412 8,003,265 SH   SOLE   7,882,725 0 120,540
MFA FINL INC COM 55272X102 3,536 773,850 SH   SOLE   773,850 0 0
MICROSTRATEGY INC CL A NEW 594972408 383 663 SH   SOLE   663 0 0
MICROSTRATEGY INC CL A NEW 594972408 289 500 SH Call SOLE   500 0 0
NABORS INDUSTRIES LTD SHS G6359F137 6,788 70,361 SH   SOLE   60,636 0 9,725
NEW ORIENTAL ED & TECHNOLOGY SPON ADR 647581107 41 20,000 SH   SOLE   20,000 0 0
NORWEGIAN CRUISE LINE HLDG L SHS G66721104 96,061 3,596,467 SH   SOLE   3,535,810 0 60,657
OCCIDENTAL PETE CORP *W EXP 08/03/202 674599162 118 10,000 SH   SOLE   10,000 0 0
ONEMAIN HLDGS INC COM 68268W103 88,731 1,603,672 SH   SOLE   1,578,460 0 25,212
OPENDOOR TECHNOLOGIES INC COM 683712103 267 13,000 SH   SOLE   13,000 0 0
ORGANON & CO COMMON STOCK 68622V106 5,082 155,000 SH   SOLE   155,000 0 0
PERDOCEO ED CORP COM 71363P106 634 60,000 SH   SOLE   60,000 0 0
PFIZER INC COM 717081103 645 15,000 SH Call SOLE   15,000 0 0
PITNEY BOWES INC COM 724479100 10,065 1,396,034 SH   SOLE   1,345,484 0 50,550
PITNEY BOWES INC COM 724479100 252 35,000 SH Call SOLE   35,000 0 0
PRECIGEN INC COM 74017N105 40,215 8,059,121 SH   SOLE   7,944,230 0 114,891
PREFERRED APT CMNTYS INC COM 74039L103 7,338 600,000 SH   SOLE   600,000 0 0
PROSHARES TR ULSH 20YRTRE NEW 74347G887 1,088 33,163 SH   SOLE   5,740 0 27,423
PROSHARES TR ULTRPRO S&P500 74347X864 10,439 91,800 SH   SOLE   91,800 0 0
QUAD / GRAPHICS INC COM CL A 747301109 2,580 607,050 SH   SOLE   589,800 0 17,250
QUOTIENT TECHNOLOGY INC COM 749119103 10,774 1,851,190 SH   SOLE   1,851,190 0 0
REVOLVE GROUP INC CL A 76156B107 767 12,417 SH   SOLE   12,417 0 0
ROCKET COS INC COM CL A 77311W101 46,075 2,872,456 SH   SOLE   2,825,790 0 46,666
SCULPTOR CAP MGMT COM CL A 811246107 5,784 207,400 SH   SOLE   207,400 0 0
SHAPEWAYS HOLDINGS INC COMMON STOCK 81947T102 393 51,039 SH   SOLE   46,274 0 4,765
SOC TELEMED INC COM CL A 78472F101 23 10,000 SH   SOLE   10,000 0 0
SOFI TECHNOLOGIES INC *W EXP 05/28/202 83406F110 124 20,000 SH   SOLE   20,000 0 0
SOFI TECHNOLOGIES INC COM 83406F102 36,519 2,299,689 SH   SOLE   2,263,880 0 35,809
SPDR S&P 500 ETF TR TR UNIT 78462F103 509 1,187 SH   SOLE   0 0 1,187
SPIRIT AIRLS INC COM 848577102 259 10,000 SH Call SOLE   10,000 0 0
SPLUNK INC COM 848637104 109,234 754,847 SH   SOLE   741,390 0 13,457
STITCH FIX INC COM CL A 860897107 57,552 1,440,613 SH   SOLE   1,416,028 0 24,585
TAKEDA PHARMACEUTICAL CO LTD SPONSORED ADS 874060205 328 20,000 SH Call SOLE   20,000 0 0
TAYLOR MORRISON HOME CORP COM 87724P106 70,910 2,750,552 SH   SOLE   2,705,833 0 44,719
TENNECO INC CL A VTG COM STK 880349105 2,661 186,500 SH   SOLE   160,725 0 25,775
TEVA PHARMACEUTICAL INDS LTD SPONSORED ADS 881624209 94,947 9,748,129 SH   SOLE   9,580,592 0 167,537
TEVA PHARMACEUTICAL INDS LTD SPONSORED ADS 881624209 97 10,000 SH Call SOLE   10,000 0 0
THE REALREAL INC COM 88339P101 52,126 3,954,884 SH   SOLE   3,891,245 0 63,639
TIVITY HEALTH INC COM 88870R102 83,401 3,616,695 SH   SOLE   3,552,775 0 63,920
TMC THE METALS COMPANY INC *W EXP 09/09/202 87261Y114 10 10,000 SH   SOLE   10,000 0 0
TUPPERWARE BRANDS CORP COM 899896104 64,965 3,076,032 SH   SOLE   3,016,670 0 59,362
TWITTER INC COM 90184L102 745 12,333 SH   SOLE   12,333 0 0
TWITTER INC COM 90184L102 1,057 17,500 SH Call SOLE   17,500 0 0
UBER TECHNOLOGIES INC COM 90353T100 49,014 1,094,045 SH   SOLE   1,063,160 0 30,885
UBER TECHNOLOGIES INC COM 90353T100 99,281 2,216,100 SH Call SOLE   2,216,100 0 0
UNDER ARMOUR INC CL C 904311206 450 25,700 SH   SOLE   25,700 0 0
UNUM GROUP COM 91529Y106 1,616 64,495 SH   SOLE   55,525 0 8,970
VALE S A SPONSORED ADS 91912E105 8,719 625,000 SH   SOLE   625,000 0 0
VIATRIS INC COM 92556V106 9,824 725,000 SH   SOLE   725,000 0 0
VIATRIS INC COM 92556V106 542 40,000 SH Call SOLE   40,000 0 0
VIPSHOP HOLDINGS LIMITED SPONSORED ADS A 92763W103 1,303 117,000 SH   SOLE   117,000 0 0
VODAFONE GROUP PLC NEW SPONSORED ADR 92857W308 155 10,000 SH Call SOLE   10,000 0 0
VONTIER CORPORATION COM 928881101 62,329 1,855,039 SH   SOLE   1,823,280 0 31,759
VROOM INC COM 92918V109 45,053 2,041,389 SH   SOLE   2,008,700 0 32,689
WALGREENS BOOTS ALLIANCE INC COM 931427108 706 15,000 SH Call SOLE   15,000 0 0
WELLS FARGO CO NEW COM 949746101 220 4,750 SH   SOLE   3,600 0 1,150
WHEELS UP EXPERIENCE INC *W EXP 07/13/202 96328L114 317 250,000 SH   SOLE   250,000 0 0
WW INTL INC COM 98262P101 67,586 3,703,319 SH   SOLE   3,646,340 0 56,979
YETI HLDGS INC COM 98585X104 3,145 36,700 SH   SOLE   36,700 0 0

Источник: Отчет комиссии по ценным бумагам и биржам США

2021