Bill Miller - Miller Value Partners 13F Activity & Position Changes (Q1 2016)

According to the SEC 13F filed on Aug 14, 2026, the Miller Value Partners portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2016. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q1 2016, the filing reported:

New Buys - None reported

Increases - Genworth Financial Inc, OneMain Holdings, Inc.

Reductions - American Airlines Group, Inc., Apple Inc., Amazon.com, Inc., Alibaba Group Holding Limited, Bank of America Corporation, and 15 more

Complete Exits - Boyd Gaming Corporation, Green Brick Partners, Inc., Netflix, Inc., QUALCOMM Incorporated, SPDR S&P 500

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q1 2016	AAL American Airlines Group, Inc.	American Airlines Group, Inc.	Sell	-221,500	-8.6%	$96.99K	2,365,125
Q1 2016	AAPL Apple Inc.	Apple Inc.	Sell	-85,400	-17.4%	$44.25K	406,030
Q1 2016	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Sell	-115,450	-84.1%	$12.98K	21,865
Q1 2016	BABA Alibaba Group Holding Limited	Alibaba Group Holding Limited	Sell	-25,600	-5.0%	$38.80K	490,925
Q1 2016	BAC Bank of America Corporation	Bank of America Corporation	Sell	-136,000	-3.1%	$57.48K	4,251,425
Q1 2016	BYD Boyd Gaming Corporation	Boyd Gaming Corporation	Sell - Position Exit	-3,798,250	-100.0%	$0.00	-
Q1 2016	C Citigroup, Inc.	Citigroup, Inc.	Sell	-66,500	-5.7%	$45.84K	1,098,000
Q1 2016	DAL Delta Air Lines, Inc.	Delta Air Lines, Inc.	Sell	-207,500	-8.1%	$115.10K	2,364,325
Q1 2016	GILD Gilead Sciences, Inc.	Gilead Sciences, Inc.	Sell	-53,900	-9.3%	$48.10K	523,675
Q1 2016	GM General Motors Company	General Motors Company	Sell	-761,550	-58.8%	$16.74K	532,625
Q1 2016	GME GameStop Corporation	GameStop Corporation	Sell	-221,800	-13.3%	$46.02K	1,450,225
Q1 2016	GNW Genworth Financial Inc	Genworth Financial Inc	Buy	+2,994,200	+23.2%	$43.48K	15,926,775
Q1 2016	GRBK Green Brick Partners, Inc.	Green Brick Partners, Inc.	Sell - Position Exit	-2,149,521	-100.0%	$0.00	-
Q1 2016	JD JD.com, Inc.	JD.com, Inc.	Sell	-100,000	-6.4%	$38.73K	1,461,550
Q1 2016	KBH KB Home	KB Home	Sell	-69,575	-1.8%	$54.51K	3,817,400
Q1 2016	LEN Lennar Corporation	Lennar Corporation	Sell	-149,600	-7.2%	$92.64K	1,915,525
Q1 2016	MTG MGIC Investment Corporation	MGIC Investment Corporation	Sell	-568,975	-6.0%	$67.95K	8,859,750
Q1 2016	N6596X109 NXP Semiconductors	NXP Semiconductors	Sell	-100,800	-9.8%	$75.34K	929,350
Q1 2016	NFLX Netflix, Inc.	Netflix, Inc.	Sell - Position Exit	-814,425	-100.0%	$0.00	-
Q1 2016	OMF OneMain Holdings, Inc.	OneMain Holdings, Inc.	Buy	+1,826,575	+225.5%	$72.32K	2,636,550
Q1 2016	PHM PulteGroup, Inc.	PulteGroup, Inc.	Sell	-293,600	-6.0%	$86.13K	4,603,625
Q1 2016	QCOM QUALCOMM Incorporated	QUALCOMM Incorporated	Sell - Position Exit	-736,465	-100.0%	$0.00	-
Q1 2016	RDN Radian Group Inc.	Radian Group Inc.	Sell	-79,100	-4.3%	$21.60K	1,742,075
Q1 2016	SPY SPDR S&P 500	SPDR S&P 500	Sell - Position Exit	-72,750	-100.0%	$0.00	-
Q1 2016	TMHC Taylor Morrison Home Corporatio	Taylor Morrison Home Corporatio	Sell	-150,300	-5.8%	$34.36K	2,433,425
Q1 2016	TPH Tri Pointe Homes, Inc.	Tri Pointe Homes, Inc.	Sell	-95,500	-4.1%	$26.20K	2,224,475
Q1 2016	UAL United Airlines Holdings, Inc.	United Airlines Holdings, Inc.	Sell	-167,100	-9.2%	$98.38K	1,643,425