Bill Miller - Miller Value Partners Options Holdings (Q4 2021)
As of Dec 31, 2021, the Miller Value Partners portfolio disclosed options positions in its latest SEC 13F filing reported on May 15, 2026. These filings include call and put options tied to underlying equity holdings, providing a deeper look at the fund's use of derivatives for exposure and hedging.
The reported options activity included 31 call contracts and 1 put contract across companies such as iShares 20+ Year Treasury Bond (TLT), Amazon.com, Inc. (AMZN), JD.com, Inc. (JD). Options positions can signal strategies around hedging risk, enhancing leverage, or adjusting portfolio exposure during market shifts.
Options Positions
Showing 30 of 32 positions.
| Quarter | Symbol | Company | Option | Contracts | Notional Value |
|---|---|---|---|---|---|
| Q4 2021 | TLT | iShares 20+ Year Treasury Bond | PUT | 2,549,500 | $377,810.00 |
| Q4 2021 | AMZN | Amazon.com, Inc. | CALL | 58,100 | $193,725.00 |
| Q4 2021 | JD | JD.com, Inc. | CALL | 2,492,900 | $174,678.00 |
| Q4 2021 | UBER | Uber Technologies, Inc. | CALL | 1,368,600 | $57,385.00 |
| Q4 2021 | F | Ford Motor Company | CALL | 105,000 | $2,181.00 |
| Q4 2021 | DB | Deutsche Bank | CALL | 170,000 | $2,125.00 |
| Q4 2021 | BIDU | Baidu, Inc. | CALL | 12,500 | $1,860.00 |
| Q4 2021 | T | AT&T Inc. | CALL | 55,000 | $1,353.00 |
| Q4 2021 | PFE | Pfizer, Inc. | CALL | 20,000 | $1,181.00 |
| Q4 2021 | KHC | The Kraft Heinz Company | CALL | 30,000 | $1,077.00 |
| Q4 2021 | WBA | Walgreens Boots Alliance, Inc. | CALL | 20,000 | $1,043.00 |
| Q4 2021 | VALE | VALE S.A. | CALL | 60,000 | $841.00 |
| Q4 2021 | Z | Zillow Group, Inc. | CALL | 10,000 | $639.00 |
| Q4 2021 | BHC | Bausch Health Companies Inc. | CALL | 20,000 | $552.00 |
| Q4 2021 | VTRS | Viatris Inc. | CALL | 40,000 | $541.00 |
| Q4 2021 | BCS | Barclays PLC | CALL | 50,000 | $518.00 |
| Q4 2021 | MO | Altria Group, Inc. | CALL | 10,000 | $474.00 |
| Q4 2021 | SOFI | SoFi Technologies, Inc. | CALL | 30,000 | $474.00 |
| Q4 2021 | CPNG | Coupang, Inc. | CALL | 15,000 | $441.00 |
| Q4 2021 | SAVE | Spirit Airlines, Inc. | CALL | 20,000 | $437.00 |
| Q4 2021 | CCL | Carnival Corporation | CALL | 20,000 | $402.00 |
| Q4 2021 | PTON | Peloton Interactive, Inc. | CALL | 10,000 | $358.00 |
| Q4 2021 | PBI | Pitney Bowes Inc. | CALL | 50,000 | $332.00 |
| Q4 2021 | CXW | CoreCivic, Inc. | CALL | 30,000 | $299.00 |
| Q4 2021 | TAK | Takeda Pharmaceutical Company L | CALL | 20,000 | $273.00 |
| Q4 2021 | MSTR | MicroStrategy Incorporated | CALL | 500 | $272.00 |
| Q4 2021 | ADT | ADT Inc. | CALL | 30,000 | $252.00 |
| Q4 2021 | VOD | Vodafone Group Plc | CALL | 10,000 | $149.00 |
| Q4 2021 | LUMN | Lumen Technologies, Inc. | CALL | 10,000 | $126.00 |
| Q4 2021 | ET | Energy Transfer LP | CALL | 10,000 | $82.00 |
Note: Notional value represents the total exposure of the options position.