Bill Miller – Miller Value Partners Options Positions & Derivatives (Jun 30, 2025)
As of Jun 30, 2025, the Miller Value Partners portfolio disclosed options positions in its latest SEC 13F filing reported on Aug 14, 2025. 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 229 call contracts and 3 put contracts across companies such as Barclays PLC (BCS), Deutsche Bank (DB), Pitney Bowes Inc. (PBI). Options positions can signal strategies around hedging risk, enhancing leverage, or adjusting portfolio exposure during market shifts.
Miller Value Partners Options Activity
| Date | Symbol | Option | Quantity |
|---|---|---|---|
| Q4 2021 | PFE Pfizer, Inc. | CALL | 20,000 |
| Q4 2021 | PTON Peloton Interactive, Inc. | CALL | 10,000 |
| Q4 2021 | SAVE Spirit Airlines, Inc. | CALL | 20,000 |
| Q4 2021 | SOFI SoFi Technologies, Inc. | CALL | 30,000 |
| Q4 2021 | T AT&T Inc. | CALL | 55,000 |
| Q4 2021 | TAK Takeda Pharmaceutical Company L | CALL | 20,000 |
| Q4 2021 | TEVA Teva Pharmaceutical Industries | CALL | 10,000 |
| Q4 2021 | TLT iShares 20+ Year Treasury Bond | PUT | 2,549,500 |
| Q4 2021 | UBER Uber Technologies, Inc. | CALL | 1,368,600 |
| Q4 2021 | VALE VALE S.A. | CALL | 60,000 |
| Q4 2021 | VOD Vodafone Group Plc | CALL | 10,000 |
| Q4 2021 | VTRS Viatris Inc. | CALL | 40,000 |
| Q4 2021 | WBA Walgreens Boots Alliance, Inc. | CALL | 20,000 |
| Q4 2021 | Z Zillow Group, Inc. | CALL | 10,000 |
| Q3 2021 | ADT ADT Inc. | CALL | 30,000 |
| Q3 2021 | AMZN Amazon.com, Inc. | CALL | 58,700 |
| Q3 2021 | BHC Bausch Health Companies Inc. | CALL | 20,000 |
| Q3 2021 | BIDU Baidu, Inc. | CALL | 5,000 |
| Q3 2021 | CCL Carnival Corporation | CALL | 10,000 |
| Q3 2021 | CXW CoreCivic, Inc. | CALL | 30,000 |
| Q3 2021 | DB Deutsche Bank | CALL | 170,000 |
| Q3 2021 | ET Energy Transfer LP | CALL | 10,000 |
| Q3 2021 | F Ford Motor Company | CALL | 170,000 |
| Q3 2021 | JD JD.com, Inc. | CALL | 5,053,000 |
| Q3 2021 | KHC The Kraft Heinz Company | CALL | 20,000 |
| Q3 2021 | LUMN Lumen Technologies, Inc. | CALL | 10,000 |
| Q3 2021 | M Macy's Inc | CALL | 10,000 |
| Q3 2021 | MO Altria Group, Inc. | CALL | 10,000 |
| Q3 2021 | MSTR MicroStrategy Incorporated | CALL | 500 |
| Q3 2021 | PBI Pitney Bowes Inc. | CALL | 35,000 |