Bill Miller - Miller Value Partners 13F Activity & Position Changes (Q2 2014)

As of Jun 30, 2014, the Miller Value Partners portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on May 15, 2026. 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 Q2 2014, the filing reported:

New Buys - Gilead Sciences, Inc., Hercules Capital, Inc., McDonald's Corporation, Philip Morris International Inc

Increases - Apple Inc., StoneCastle Financial Corp, D/B/A Compass Diversified Holdi, Cisco Systems, Inc., Dine Brands Global, Inc. Common, and 13 more

Reductions - American Airlines Group, Inc., Amazon.com, Inc., Ares Capital Corporation, Bank of America Corporation, Best Buy Co., Inc., and 22 more

Complete Exits - Apollo Commercial Real Estate F, Essent Group

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
Q2 2014	AAL American Airlines Group, Inc.	American Airlines Group, Inc.	Sell	-261,475	-10.5%	$95.36K	2,219,775
Q2 2014	AAPL Apple Inc.	Apple Inc.	Buy	+472,930	+596.7%	$51.32K	552,190
Q2 2014	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Sell	-1,825	-1.5%	$37.78K	116,340
Q2 2014	ARCC Ares Capital Corporation	Ares Capital Corporation	Sell	-1,629,900	-95.2%	$1.48K	82,800
Q2 2014	ARI Apollo Commercial Real Estate F	Apollo Commercial Real Estate F	Sell - Position Exit	-6,600	-100.0%	$0.00	-
Q2 2014	BAC Bank of America Corporation	Bank of America Corporation	Sell	-42,000	-1.0%	$60.91K	3,962,525
Q2 2014	BANX StoneCastle Financial Corp	StoneCastle Financial Corp	Buy	+2,775	+11.6%	$680.00	26,775
Q2 2014	BBY Best Buy Co., Inc.	Best Buy Co., Inc.	Sell	-16,575	-1.4%	$36.01K	1,161,275
Q2 2014	BYD Boyd Gaming Corporation	Boyd Gaming Corporation	Sell	-57,800	-1.5%	$45.16K	3,723,375
Q2 2014	C Citigroup, Inc.	Citigroup, Inc.	Sell	-11,850	-1.1%	$49.40K	1,048,725
Q2 2014	CODI D/B/A Compass Diversified Holdi	D/B/A Compass Diversified Holdi	Buy	+49,457	+122.0%	$1.63K	90,000
Q2 2014	CSCO Cisco Systems, Inc.	Cisco Systems, Inc.	Buy	+323,000	+117.4%	$14.86K	598,100
Q2 2014	DAL Delta Air Lines, Inc.	Delta Air Lines, Inc.	Sell	-264,675	-9.7%	$94.98K	2,452,950
Q2 2014	DIN Dine Brands Global, Inc. Common	Dine Brands Global, Inc. Common	Buy	+2,000	+16.7%	$1.11K	14,000
Q2 2014	EARN Ellington Credit Company	Ellington Credit Company	Buy	+9,875	+12.3%	$1.53K	89,875
Q2 2014	EBAY eBay Inc.	eBay Inc.	Sell	-14,600	-1.4%	$52.51K	1,048,900
Q2 2014	F Ford Motor Company	Ford Motor Company	Sell	-201,685	-11.7%	$26.13K	1,515,750
Q2 2014	G0585R106 Assured Guaranty	Assured Guaranty	Sell	-31,100	-1.5%	$49.79K	2,032,150
Q2 2014	G3198U102 Essent Group	Essent Group	Sell - Position Exit	-453,425	-100.0%	$0.00	-
Q2 2014	G4412G101 Herbalife	Herbalife	Buy	+2,600	+17.0%	$1.16K	17,900
Q2 2014	GILD Gilead Sciences, Inc.	Gilead Sciences, Inc.	Buy - Position Entry	+670,075	-	$55.56K	670,075
Q2 2014	GM General Motors Company	General Motors Company	Sell	-37,941	-3.4%	$39.01K	1,074,700
Q2 2014	GME GameStop Corporation	GameStop Corporation	Buy	+339,650	+28.1%	$62.75K	1,550,450
Q2 2014	GNW Genworth Financial Inc	Genworth Financial Inc	Sell	-397,850	-6.9%	$93.48K	5,372,300
Q2 2014	HIG Hartford Financial Services Gro	Hartford Financial Services Gro	Sell	-74,525	-5.1%	$50.05K	1,397,750
Q2 2014	HTGC Hercules Capital, Inc.	Hercules Capital, Inc.	Buy - Position Entry	+51,600	-	$834.00	51,600
Q2 2014	IBM International Business Machines	International Business Machines	Buy	+28,785	+121.5%	$9.51K	52,485
Q2 2014	KBH KB Home	KB Home	Sell	-31,625	-1.6%	$37.13K	1,987,625
Q2 2014	KKR KKR & Co. Inc.	KKR & Co. Inc.	Buy	+22,600	+55.3%	$1.54K	63,500
Q2 2014	LEN Lennar Corporation	Lennar Corporation	Sell	-15,100	-1.4%	$45.00K	1,071,950

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