# EDGAR Filing Document

**Accession Number:** 0001135778
**File Stem:** 0001085146-23-001251
**Filing Date:** 2023-2
**Character Count:** 13570
**Document Hash:** df541cc1fb62fcfd51784581a28fa701
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001085146-23-001251.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0001085146-23-001251

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230214

**DATE AS OF CHANGE**: 20230214

**EFFECTIVENESS DATE**: 20230214

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MILLER VALUE PARTNERS, LLC
- **CENTRAL INDEX KEY:** 0001135778
- **IRS NUMBER:** 522204753
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-06399
- **FILM NUMBER:** 23626083

**BUSINESS ADDRESS:**
- **STREET 1:** ONE SOUTH STREET
- **STREET 2:** SUITE 2550
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21202
- **BUSINESS PHONE:** 4104543130

**MAIL ADDRESS:**
- **STREET 1:** ONE SOUTH STREET
- **STREET 2:** SUITE 2550
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LMM LLC
- **DATE OF NAME CHANGE:** 20130725

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LMM LLC /MD/
- **DATE OF NAME CHANGE:** 20010301

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** MILLER VALUE PARTNERS LLC<br>**Address:** One South Street<br>Suite 2550<br>Baltimore, MD 21202

**Form 13F File Number:** 028-06399

**CRD Number (if applicable):** 000110632

**SEC File Number (if applicable):** 801-56989

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Christopher Anderson<br>**Title:** Chief Compliance Officer<br>**Phone:** 410 454-3159

**Signature, Place, and Date of Signing:**

/s/Christopher Anderson  Baltimore, MD  02-14-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 84

**Form 13F Information Table Value Total:** $1550866523

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ADT INC DEL | COM | 00090Q103 | BBG001S6VGG6 | 30393814 | 3351027 | SH |  | SOLE |  | 3260201 | 0 | 90826 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 | BBG006G2JWB1 | 49198959 | 558507 | SH |  | SOLE |  | 544610 | 0 | 13897 |
| ALLIANCE RESOURCE PARTNERS L | UT LTD PART | 01877R108 | BBG001SD52Y1 | 6583680 | 324000 | SH |  | SOLE |  | 324000 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 | BBG009S39JY5 | 54329575 | 615772 | SH |  | SOLE |  | 600360 | 0 | 15412 |
| AMAZON COM INC | COM | 023135106 | BBG001S5PQL7 | 56409428 | 671540 | SH |  | SOLE |  | 655325 | 0 | 16215 |
| AMERICAN AXLE  MFG HLDGS IN | COM | 024061103 | BBG001S9DR67 | 2654694 | 339475 | SH |  | SOLE |  | 281025 | 0 | 58450 |
| APOLLO GLOBAL MGMT INC | COM | 03769M106 | BBG00ZNLTFL2 | 4210140 | 66000 | SH |  | SOLE |  | 66000 | 0 | 0 |
| ARTISAN PARTNERS ASSET MGMT | CL A | 04316A108 | BBG001V107T3 | 1871100 | 63000 | SH |  | SOLE |  | 63000 | 0 | 0 |
| ATKORE INC | COM | 047649108 | BBG001T8LDZ8 | 567100 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| B. RILEY FINANCIAL INC | COM | 05580M108 | BBG001SV8TK4 | 2992500 | 87500 | SH |  | SOLE |  | 87500 | 0 | 0 |
| BARCLAYS PLC | ADR | 06738E204 | BBG001S5P2T2 | 62400 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| BARCLAYS PLC | ADR | 06738E204 | BBG001S5P2T2 | 284700 | 36500 | SH | Call | SOLE |  | 36500 | 0 | 0 |
| BEAZER HOMES USA INC | COM NEW | 07556Q881 | BBG001S76DH8 | 638000 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| BLUEGREEN VACATIONS HLDG COR | CLASS A | 096308101 | BBG001SBD8L7 | 249600 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| BUCKLE INC | COM | 118440106 | BBG001S5P6T3 | 10394220 | 229200 | SH |  | SOLE |  | 229200 | 0 | 0 |
| BUILDERS FIRSTSOURCE INC | COM | 12008R107 | BBG001S9CFC7 | 1394920 | 21500 | SH |  | SOLE |  | 21500 | 0 | 0 |
| CAMPING WORLD HLDGS INC | CL A | 13462K109 | BBG00D2Z7X92 | 1495440 | 67000 | SH |  | SOLE |  | 67000 | 0 | 0 |
| CANADA GOOSE HLDGS INC | SHS SUB VTG | 135086106 | BBG00G2HL1Z0 | 39801146 | 2234764 | SH |  | SOLE |  | 2182330 | 0 | 52434 |
| CAPITAL ONE FINL CORP | COM | 14040H105 | BBG001S65PV8 | 27819518 | 299263 | SH |  | SOLE |  | 292780 | 0 | 6483 |
| CHEMOURS CO | COM | 163851108 | BBG005H82GC1 | 7655000 | 250000 | SH |  | SOLE |  | 250000 | 0 | 0 |
| CHESAPEAKE ENERGY CORP | COM | 165167735 | BBG00Z6DX607 | 36162633 | 383200 | SH |  | SOLE |  | 375280 | 0 | 7920 |
| CHICOS FAS INC | COM | 168615102 | BBG001S976G9 | 6263317 | 1273032 | SH |  | SOLE |  | 1244325 | 0 | 28707 |
| CITIGROUP INC | COM NEW | 172967424 | BBG001S72ZG4 | 46626199 | 1030868 | SH |  | SOLE |  | 1006650 | 0 | 24218 |
| CLEVELAND-CLIFFS INC NEW | COM | 185899101 | BBG001S5PW43 | 32261193 | 2002557 | SH |  | SOLE |  | 1947108 | 0 | 55449 |
| COINBASE GLOBAL INC | COM CL A | 19260Q107 | BBG00ZGF7799 | 25358077 | 716532 | SH |  | SOLE |  | 701296 | 0 | 15236 |
| CONDUENT INC | COM | 206787103 | BBG00C1BZMV6 | 1299341 | 320825 | SH |  | SOLE |  | 265350 | 0 | 55475 |
| CREDIT SUISSE GROUP | SPONSORED ADR | 225401108 | BBG001SF3K87 | 152000 | 50000 | SH | Call | SOLE |  | 50000 | 0 | 0 |
| CROCS INC | COM | 227046109 | BBG001SDGFR8 | 1626450 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| CTO RLTY GROWTH INC NEW | COM | 22948Q101 | BBG00Y3M1H68 | 6981132 | 381900 | SH |  | SOLE |  | 381900 | 0 | 0 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 | BBG001SPT759 | 55127935 | 1677660 | SH |  | SOLE |  | 1637305 | 0 | 40355 |
| DESKTOP METAL INC | COM CL A | 25058X105 | BBG00P17H1G9 | 6800 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| DESKTOP METAL INC | COM CL A | 25058X105 | BBG00P17H1G9 | 40664 | 29900 | SH | Call | SOLE |  | 29900 | 0 | 0 |
| DEUTSCHE BANK A G | NAMEN AKT | D18190898 | BBG001S683N3 | 92160 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| DEUTSCHE BANK A G | NAMEN AKT | D18190898 | BBG001S683N3 | 1728000 | 150000 | SH | Call | SOLE |  | 150000 | 0 | 0 |
| DIAMOND OFFSHORE DRILLING IN | COM | 25271C201 | BBG010JCFCF2 | 728000 | 70000 | SH |  | SOLE |  | 70000 | 0 | 0 |
| DXC TECHNOLOGY CO | COM | 23355L106 | BBG00FN64XV6 | 14808623 | 558816 | SH |  | SOLE |  | 542665 | 0 | 16151 |
| ENERGY TRANSFER L P | COM UT LTD PTN | 29273V100 | BBG001SDHNW4 | 59312918 | 4996876 | SH |  | SOLE |  | 4878292 | 0 | 118584 |
| EXPEDIA GROUP INC | COM NEW | 30212P303 | BBG001SP8VM0 | 68967559 | 787300 | SH |  | SOLE |  | 767295 | 0 | 20005 |
| FARFETCH LTD | ORD SH CL A | 30744W107 | BBG00LSD4483 | 32411979 | 6852427 | SH |  | SOLE |  | 6700050 | 0 | 152377 |
| FISERV INC | COM | 337738108 | BBG001S5R6Q4 | 38658325 | 382490 | SH |  | SOLE |  | 372065 | 0 | 10425 |
| FOOT LOCKER INC | COM | 344849104 | BBG001S5XMR1 | 806250 | 21335 | SH |  | SOLE |  | 17585 | 0 | 3750 |
| GANNETT CO INC | COM | 36472T109 | BBG005C9FQR2 | 3645322 | 1795725 | SH |  | SOLE |  | 1490175 | 0 | 305550 |
| GENERAL MTRS CO | COM | 37045V100 | BBG001SM1DK6 | 45037911 | 1338820 | SH |  | SOLE |  | 1306865 | 0 | 31955 |
| GEO GROUP INC NEW | COM | 36162J106 | BBG001S6VYZ6 | 4193850 | 383000 | SH |  | SOLE |  | 383000 | 0 | 0 |
| IHEARTMEDIA INC | COM CL A | 45174J509 | BBG00P2FSP84 | 183900 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| JACKSON FINANCIAL INC | COM CL A | 46817M107 | BBG00922Y611 | 8712808 | 250440 | SH |  | SOLE |  | 241380 | 0 | 9060 |
| JPMORGAN CHASE  CO | COM | 46625H100 | BBG001S8CRC3 | 46825236 | 349181 | SH |  | SOLE |  | 340080 | 0 | 9101 |
| KARUNA THERAPEUTICS INC | COM | 48576A100 | BBG00NN875H9 | 28485820 | 144966 | SH |  | SOLE |  | 141165 | 0 | 3801 |
| LAZARD LTD | SHS A | G54050102 | BBG001S711C4 | 4410024 | 127200 | SH |  | SOLE |  | 127200 | 0 | 0 |
| LITHIA MTRS INC | COM | 536797103 | BBG001SC88P7 | 204740 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| LYONDELLBASELL INDUSTRIES N | SHS - A - | N53745100 | BBG001T8LMY9 | 664240 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| M/I HOMES INC | COM | 55305B101 | BBG001S7HGC4 | 1935635 | 41915 | SH |  | SOLE |  | 34850 | 0 | 7065 |
| MATTEL INC | COM | 577081102 | BBG001S5SZF1 | 59909503 | 3358156 | SH |  | SOLE |  | 3275020 | 0 | 83136 |
| MEDICAL PPTYS TRUST INC | COM | 58463J304 | BBG001S7WM61 | 6483480 | 582000 | SH |  | SOLE |  | 582000 | 0 | 0 |
| MEDIFAST INC | COM | 58470H101 | BBG001SD45H4 | 3633525 | 31500 | SH |  | SOLE |  | 31500 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 | BBG001SQCQC5 | 33203554 | 275914 | SH |  | SOLE |  | 269835 | 0 | 6079 |
| MICROSTRATEGY INC | CL A NEW | 594972408 | BBG001SC7PX1 | 878433 | 1900000 | SH |  | SOLE |  | 1900000 | 0 | 0 |
| NABORS INDUSTRIES LTD | SHS | G6359F137 | BBG001S604K2 | 5997496 | 38726 | SH |  | SOLE |  | 32046 | 0 | 6680 |
| NORWEGIAN CRUISE LINE HLDG L | SHS | G66721104 | BBG001SCKPS2 | 46560751 | 3803983 | SH |  | SOLE |  | 3707600 | 0 | 96383 |
| ONEMAIN HLDGS INC | COM | 68268W103 | BBG005497H09 | 69943172 | 2099765 | SH |  | SOLE |  | 2052455 | 0 | 47310 |
| ORGANON  CO | COMMON STOCK | 68622V106 | BBG00ZQRGW42 | 6423900 | 230000 | SH |  | SOLE |  | 230000 | 0 | 0 |
| OVINTIV INC | COM | 69047Q102 | BBG00R2NHQ74 | 74007409 | 1459424 | SH |  | SOLE |  | 1419575 | 0 | 39849 |
| PERDOCEO ED CORP | COM | 71363P106 | BBG001S6M491 | 486500 | 35000 | SH |  | SOLE |  | 35000 | 0 | 0 |
| PITNEY BOWES INC | COM | 724479100 | BBG001S5V171 | 1456004 | 383159 | SH |  | SOLE |  | 316009 | 0 | 67150 |
| PITNEY BOWES INC | COM | 724479100 | BBG001S5V171 | 190000 | 50000 | SH | Call | SOLE |  | 50000 | 0 | 0 |
| PRICE T ROWE GROUP INC | COM | 74144T108 | BBG001S5WW18 | 2091225 | 19175 | SH |  | SOLE |  | 19175 | 0 | 0 |
| QUAD / GRAPHICS INC | COM CL A | 747301109 | BBG001SG6LT7 | 5916000 | 1450000 | SH |  | SOLE |  | 1301150 | 0 | 148850 |
| SCULPTOR CAP MGMT | COM CL A | 811246107 | BBG001SKL5N2 | 3138384 | 362400 | SH |  | SOLE |  | 362400 | 0 | 0 |
| SILVERGATE CAP CORP | CL A | 82837P408 | BBG00MMM96K3 | 24777321 | 1423984 | SH |  | SOLE |  | 1392155 | 0 | 31829 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 | BBG001S77WM9 | 3406920 | 29000 | SH |  | SOLE |  | 29000 | 0 | 0 |
| SOFI TECHNOLOGIES INC | COM | 83406F102 | BBG00YB1ZF08 | 22628553 | 4908580 | SH |  | SOLE |  | 4807940 | 0 | 100640 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 | BBG001S72SM3 | 7672693 | 20062 | SH |  | SOLE |  | 17520 | 0 | 2542 |
| SPLUNK INC | COM | 848637104 | BBG001TWMNG3 | 33473918 | 388824 | SH |  | SOLE |  | 379870 | 0 | 8954 |
| STITCH FIX INC | COM CL A | 860897107 | BBG0046L1KM8 | 13170582 | 4234914 | SH |  | SOLE |  | 4152345 | 0 | 82569 |
| TAYLOR MORRISON HOME CORP | COM | 87724P106 | BBG003PGJJF2 | 65292562 | 2151320 | SH |  | SOLE |  | 2090773 | 0 | 60547 |
| TECHNIPFMC PLC | COM | G87110105 | BBG00DL8NMT5 | 3391258 | 278200 | SH |  | SOLE |  | 243700 | 0 | 34500 |
| TEVA PHARMACEUTICAL INDS LTD | SPONSORED ADS | 881624209 | BBG001S62NT9 | 46940886 | 5147027 | SH |  | SOLE |  | 5000247 | 0 | 146780 |
| TRAVEL PLUS LEISURE CO | COM | 894164102 | BBG001SN4127 | 36438294 | 1001052 | SH |  | SOLE |  | 976885 | 0 | 24167 |
| TUPPERWARE BRANDS CORP | COM | 899896104 | BBG001S87804 | 407484 | 98426 | SH |  | SOLE |  | 81776 | 0 | 16650 |
| TUTOR PERINI CORP | COM | 901109108 | BBG001S5V297 | 2315585 | 306700 | SH |  | SOLE |  | 253800 | 0 | 52900 |
| UBER TECHNOLOGIES INC | COM | 90353T100 | BBG002B04MW4 | 41248284 | 1667945 | SH |  | SOLE |  | 1629260 | 0 | 38685 |
| UNITED AIRLS HLDGS INC | COM | 910047109 | BBG001SQ87W0 | 37773520 | 1001950 | SH |  | SOLE |  | 976185 | 0 | 25765 |
| VALE S A | SPONSORED ADS | 91912E105 | BBG001SB54S8 | 8383197 | 494001 | SH |  | SOLE |  | 494001 | 0 | 0 |
| VIATRIS INC | COM | 92556V106 | BBG00Y52JV51 | 10501155 | 943500 | SH |  | SOLE |  | 943500 | 0 | 0 |

---