Bill Miller - Miller Value Partners Portfolio
| Period Date | Mar 31, 2025 | |
| Filing Date | May 15, 2025 | |
| Total Stocks | 34 | |
| Portfolio Value | $219.41M |
Miller Value Partners Strategy Analysis
Investment Strategy Metrics
Key metrics revealing investment style, risk management, and performance characteristics
| Metric | Value | Category | Description |
|---|---|---|---|
| Holding Period | 1.3 years | Style | Average duration positions are maintained |
| Position Count | 81 | Style | Number of active positions in portfolio |
| Position Size | 2.7% | Risk | Typical allocation per position |
| Win Rate | 55.6% | Performance | Percentage of profitable positions |
| Average Return | 7.8% | Performance | Mean return across positions |
| Sharpe Ratio | 0.19 | Performance | Return per unit of risk taken |
Investment Case Study: LINCOLN NATL CORP IND (LNC)
3/31/2024 - 8/4/2025
Performance Metrics
Total Return: 127.91%
Holding Period: 491 days
Max Position Size: $18,646,447.00
Position Weight: 6.52%
Key Events
3/31/2024: ENTRY(198,990.00 shares) @ $31.93
6/30/2024: INCREASE(130,785.00 shares) @ $31.10
9/30/2024: INCREASE(53,440.00 shares) @ $31.51
12/31/2024: INCREASE(110,470.00 shares) @ $31.71
3/31/2025: INCREASE(25,570.00 shares) @ $35.91
Investment Thesis
Entry Context: Initial position established based on fundamental analysis
Sector Conditions: Favorable market conditions in the sector
Risk Factors:
- Market volatility
- Sector-specific risks
Key Learnings
- Position sizing is critical for portfolio management
- Important to monitor sector exposure