Bill Miller, known for his streak of beating S&P500 for 15 consecutive years, has been underperforming due to his exposure to housing and housing-related securities, and his lack of exposure to energy. But he said it is "a pretty good time to be a buyer of stocks!" These are his buys and sells of during the second quarter.
Bill Miller buys NutriSystem Inc, Delta Air Lines Inc., EMC Corp., Eagle Materials Inc., sells Masco Corp., NIKE Inc., Jarden Corp., Dell Inc., Amgen Inc. during the 3-months ended 06/30/2007. The transactions are mostly with his Legg Mason Opportunity Trust. His flagship fund, Legg Mason Value Trust, does not have new stocks. Bill Miller owns 36 stocks with a total value of $20.6 billion in the Value Trust. The smaller Opportunity Trust owns more than 60 stocks with total value more than $8 billion. These are the details of the buys and sells.
New Purchases: DAL, EMC, EXP, NTRI,
Added Positions: ALU, BE, LCC, MOT, UAUA,
Reduced Positions: DTV, FWLT, HNT, SYNM,
Sold Out: AMGN, DELL, JAH, MAS, NKE,
Added: UAL Corp. (UAUA, Financial)
Bill Miller added to his holdings in Airlines company UAL Corp. by 1800%. His purchase prices were between $34.01 and $42.17, with an estimated average price of $37.9. The impact to his portfolio due to this purchase was 2.55%. His holdings were 5,700,000 shares as of 06/30/2007.
UAL Corporation offers air transportation services. The company, through its subsidiary, United Air Lines, Inc., provides transportation of persons, property, and mail in the United States and internationally. UAL Corp. has a market cap of $5.43 billion, its shares were traded at around $47.47 with with P/E ratio of 24.58 and P/S ratio of 0.29.
Added: US Airways Group Inc. (LCC, Financial)
Bill Miller added to his holdings in Airlines company US Airways Group Inc. by 134.78%. His purchase prices were between $27.61 and $47.05, with an estimated average price of $35.9. The impact to his portfolio due to this purchase was 1.09%. His holdings were 5,400,000 shares as of 06/30/2007.
US Airways Group, Inc. provides air transportation for passengers and cargo. It operates approximately 4,000 flights daily to 240 communities in the United States, Canada, the Caribbean, Latin America, and Europe. US Airways Group Inc. has a market cap of $2.89 billion, its shares were traded at around $30.95 with with P/E ratio of 11.25 and P/S ratio of 0.26.
Added: AlcatelLucent (ALU, Financial)
Bill Miller added to his holdings in Airlines company AlcatelLucent by 150%. His purchase prices were between $12.19 and $13.87, with an estimated average price of $13.2. The impact to his portfolio due to this purchase was 0.49%. His holdings were 5,000,000 shares as of 06/30/2007.
Alcatel-Lucent provides solutions that enable service providers, enterprises, and governments to deliver voice, data, and video communication services to end-users worldwide. AlcatelLucent has a market cap of $23.92 billion, its shares were traded at around $10.95 with with P/S ratio of 1.21.
Added: Motorola Inc. (MOT, Financial)
Bill Miller added to his holdings in Telecom Equipment company Motorola Inc. by 92.55%. His purchase prices were between $17.52 and $18.74, with an estimated average price of $18. The impact to his portfolio due to this purchase was 0.32%. His holdings were 7,702,000 shares as of 06/30/2007.
Motorola, Inc. provides wireless and broadband communication products worldwide. It operates through three segments: Mobile Devices, Home and Networks Mobility, and Enterprise Mobility Solutions. Motorola Inc. has a market cap of $39.43 billion, its shares were traded at around $16.95 with with P/E ratio of 29.90 and P/S ratio of 0.97.
Added: BearingPoint Inc. (BE, Financial)
Bill Miller added to his holdings in Computer Services company BearingPoint Inc. by 25%. His purchase prices were between $7.1 and $7.92, with an estimated average price of $7.4. The impact to his portfolio due to this purchase was 0.13%. His holdings were 7,500,000 shares as of 06/30/2007. Its shares were traded at around $5.87.
New Purchase: NutriSystem Inc (NTRI, Financial)
Bill Miller initiated holdings in Specialized Consumer Services company NutriSystem Inc. His purchase prices were between $54.64 and $67.05, with an estimated average price of $62.5. The impact to his portfolio due to this purchase was 0.97%. His holdings were 1,200,000 shares as of 06/30/2007.
NutriSystem, Inc. provides weight management and fitness products and services in the United States. Its weight management program consists of a pre-packaged food program and counseling. NutriSystem Inc has a market cap of $1.86 billion, its shares were traded at around $54.23 with with P/E ratio of 17.24 and P/S ratio of 2.44.
New Purchase: Delta Air Lines Inc. (DAL, Financial)
Bill Miller initiated holdings in Airlines company Delta Air Lines Inc.. His purchase prices were between $18.76 and $20.98, with an estimated average price of $19.4. The impact to his portfolio due to this purchase was 0.52%. His holdings were 2,250,000 shares as of 06/30/2007.
Delta Air Lines, Inc., together with its subsidiaries, operates as an air carrier in the United States and internationally. It provides scheduled air transportation for passengers and cargo. Delta Air Lines Inc. has a market cap of $4.24 billion, its shares were traded at around $16.88 with with P/S ratio of 0.24.
New Purchase: EMC Corp. (EMC, Financial)
Bill Miller initiated holdings in Computer Hardware company EMC Corp.. His purchase prices were between $14.44 and $17.95, with an estimated average price of $16.1. The impact to his portfolio due to this purchase was 0.32%. His holdings were 1,500,000 shares as of 06/30/2007.
EMC Corporation engages in the development, delivery, and support of information infrastructure technologies and solutions worldwide. Its Information Storage segment offers networked information storage systems to be deployed in a storage area network. EMC Corp. has a market cap of $40.77 billion, its shares were traded at around $19.66 with with P/E ratio of 31.92 and P/S ratio of 3.43.
New Purchase: Eagle Materials Inc. (EXP, Financial)
Bill Miller initiated holdings in Building Materials & Fixtures company Eagle Materials Inc.. His purchase prices were between $44.52 and $49.82, with an estimated average price of $47.2. The impact to his portfolio due to this purchase was 0.17%. His holdings were 300,000 shares as of 06/30/2007.
Eagle Materials, Inc., together with its subsidiaries, engages in the manufacture, distribution, and sale of gypsum wallboard and cement primarily in the United States. Eagle Materials Inc. has a market cap of $1.8 billion, its shares were traded at around $37.96 with with P/E ratio of 10.13 and P/S ratio of 2.06.
Reduced: DIRECTV Group Inc. The (DTV, Financial)
Bill Miller reduced to his holdings in Broadcasting & Entertainment company DIRECTV Group Inc. The by 22.2%. His sale prices were between $22.89 and $24.16, with an estimated average price of $23.7. The impact to his portfolio due to this sale was 1.59%. Bill Miller still held 17,277,000 shares as of 06/30/2007.
The DIRECTV Group, Inc. provides digital television entertainment in the United States and Latin America. It operates in two segments, DIRECTV U.S. and DIRECTV Latin America. DIRECTV Group Inc. The has a market cap of $27.65 billion, its shares were traded at around $23.33 with with P/E ratio of 18.96 and P/S ratio of 1.75.
Reduced: Health Net Inc. (HNT, Financial)
Bill Miller reduced to his holdings in Health Care Providers company Health Net Inc. by 21.69%. His sale prices were between $52.8 and $58.07, with an estimated average price of $56.2. The impact to his portfolio due to this sale was 1.53%. Bill Miller still held 7,261,000 shares as of 06/30/2007. Health Net Inc. has a market cap of $6.14 billion, its shares were traded at around $54.79 with with P/E ratio of 18.03 and P/S ratio of 0.46.
Reduced: Foster Wheeler Ltd. (FWLT, Financial)
Bill Miller reduced to his holdings in Heavy Construction company Foster Wheeler Ltd. by 41.67%. His sale prices were between $61.67 and $108.17, with an estimated average price of $88.6. The impact to his portfolio due to this sale was 1.23%. Bill Miller still held 1,400,000 shares as of 06/30/2007. Foster Wheeler Ltd. has a market cap of $8.31 billion, its shares were traded at around $118.44 with with P/E ratio of 25.61 and P/S ratio of 1.90.
Reduced: Syntroleum Corp. (SYNM)
Bill Miller reduced to his holdings in Oil Equipment & Services company Syntroleum Corp. by 23.37%. His sale prices were between $2.76 and $3.39, with an estimated average price of $3.1. The impact to his portfolio due to this sale was 0.08%. Bill Miller still held 3,220,000 shares as of 06/30/2007.
Syntroleum Corporation engages in the research, development, and commercialization of the Syntroleum Process, a proprietary process designed to convert natural gas or synthesis gas into synthetic liquid hydrocarbons. Syntroleum Corp. has a market cap of $116.92 million, its shares were traded at around $1.91 with with P/S ratio of 6.79.
Sold Out: Jarden Corp. (JAH)
Bill Miller sold out his holdings in Nondurable Household Products company Jarden Corp.. His sale prices were between $40.64 and $44.21, with an estimated average price of $42.9. The impact to his portfolio due to this sale was less than 0.01%.
Jarden Corporation engages in the manufacture, sourcing, marketing, and distribution of consumer products used in and around the home. It operates in four segments: Branded Consumables, Consumer Solutions, Outdoor Solutions, and Process Solutions. Jarden Corp. has a market cap of $2.34 billion, its shares were traded at around $32.79 with with P/E ratio of 21.54 and P/S ratio of 0.60.
Sold Out: Masco Corp. (MAS)
Bill Miller sold out his holdings in Building Materials & Fixtures company Masco Corp.. His sale prices were between $26.65 and $30.26, with an estimated average price of $28.5. The impact to his portfolio due to this sale was less than 0.01%.
Masco Corporation manufactures, distributes, and installs home improvement and building products primarily in North America. It operates through five segments: Cabinets and Related Products, Plumbing Products, Installation and Other Services, etc. Masco Corp. has a market cap of $9.59 billion, its shares were traded at around $26.02 with with P/E ratio of 24.97 and P/S ratio of 0.80.
Sold Out: Dell Inc. (DELL)
Bill Miller sold out his holdings in Computer Hardware company Dell Inc.. His sale prices were between $23.51 and $28.45, with an estimated average price of $26.2. The impact to his portfolio due to this sale was less than 0.01%.
Dell, Inc. and its subsidiaries engage in the design, development, manufacture, marketing, sale, and support of various computer systems and services to customers worldwide. Dell Inc. has a market cap of $63.22 billion, its shares were traded at around $28.25.
Sold Out: NIKE Inc. (NKE)
Bill Miller sold out his holdings in Footwear company NIKE Inc.. His sale prices were between $52.85 and $58.29, with an estimated average price of $53.9. The impact to his portfolio due to this sale was less than 0.01%.
NIKE, Inc., a consumer products company, engages in the design, development, and marketing of footwear, apparel, equipment, and accessory products worldwide. NIKE Inc. has a market cap of $27.85 billion, its shares were traded at around $56.34 with with P/E ratio of 18.96 and P/S ratio of 1.74.
Sold Out: Amgen Inc. (AMGN)
Bill Miller sold out his holdings in Biotechnology company Amgen Inc.. His sale prices were between $54.04 and $63.74, with an estimated average price of $58.1. The impact to his portfolio due to this sale was less than 0.01%.
Amgen Inc., a biotechnology company, engages in the discovery, development, manufacture, and marketing of human therapeutics based on advances in cellular and molecular biology. Amgen Inc. has a market cap of $56.86 billion, its shares were traded at around $50.11 with with P/E ratio of 20.17 and P/S ratio of 3.75.
Bill Miller buys NutriSystem Inc, Delta Air Lines Inc., EMC Corp., Eagle Materials Inc., sells Masco Corp., NIKE Inc., Jarden Corp., Dell Inc., Amgen Inc. during the 3-months ended 06/30/2007. The transactions are mostly with his Legg Mason Opportunity Trust. His flagship fund, Legg Mason Value Trust, does not have new stocks. Bill Miller owns 36 stocks with a total value of $20.6 billion in the Value Trust. The smaller Opportunity Trust owns more than 60 stocks with total value more than $8 billion. These are the details of the buys and sells.
New Purchases: DAL, EMC, EXP, NTRI,
Added Positions: ALU, BE, LCC, MOT, UAUA,
Reduced Positions: DTV, FWLT, HNT, SYNM,
Sold Out: AMGN, DELL, JAH, MAS, NKE,
Added: UAL Corp. (UAUA, Financial)
Bill Miller added to his holdings in Airlines company UAL Corp. by 1800%. His purchase prices were between $34.01 and $42.17, with an estimated average price of $37.9. The impact to his portfolio due to this purchase was 2.55%. His holdings were 5,700,000 shares as of 06/30/2007.
UAL Corporation offers air transportation services. The company, through its subsidiary, United Air Lines, Inc., provides transportation of persons, property, and mail in the United States and internationally. UAL Corp. has a market cap of $5.43 billion, its shares were traded at around $47.47 with with P/E ratio of 24.58 and P/S ratio of 0.29.
Added: US Airways Group Inc. (LCC, Financial)
Bill Miller added to his holdings in Airlines company US Airways Group Inc. by 134.78%. His purchase prices were between $27.61 and $47.05, with an estimated average price of $35.9. The impact to his portfolio due to this purchase was 1.09%. His holdings were 5,400,000 shares as of 06/30/2007.
US Airways Group, Inc. provides air transportation for passengers and cargo. It operates approximately 4,000 flights daily to 240 communities in the United States, Canada, the Caribbean, Latin America, and Europe. US Airways Group Inc. has a market cap of $2.89 billion, its shares were traded at around $30.95 with with P/E ratio of 11.25 and P/S ratio of 0.26.
Added: AlcatelLucent (ALU, Financial)
Bill Miller added to his holdings in Airlines company AlcatelLucent by 150%. His purchase prices were between $12.19 and $13.87, with an estimated average price of $13.2. The impact to his portfolio due to this purchase was 0.49%. His holdings were 5,000,000 shares as of 06/30/2007.
Alcatel-Lucent provides solutions that enable service providers, enterprises, and governments to deliver voice, data, and video communication services to end-users worldwide. AlcatelLucent has a market cap of $23.92 billion, its shares were traded at around $10.95 with with P/S ratio of 1.21.
Added: Motorola Inc. (MOT, Financial)
Bill Miller added to his holdings in Telecom Equipment company Motorola Inc. by 92.55%. His purchase prices were between $17.52 and $18.74, with an estimated average price of $18. The impact to his portfolio due to this purchase was 0.32%. His holdings were 7,702,000 shares as of 06/30/2007.
Motorola, Inc. provides wireless and broadband communication products worldwide. It operates through three segments: Mobile Devices, Home and Networks Mobility, and Enterprise Mobility Solutions. Motorola Inc. has a market cap of $39.43 billion, its shares were traded at around $16.95 with with P/E ratio of 29.90 and P/S ratio of 0.97.
Added: BearingPoint Inc. (BE, Financial)
Bill Miller added to his holdings in Computer Services company BearingPoint Inc. by 25%. His purchase prices were between $7.1 and $7.92, with an estimated average price of $7.4. The impact to his portfolio due to this purchase was 0.13%. His holdings were 7,500,000 shares as of 06/30/2007. Its shares were traded at around $5.87.
New Purchase: NutriSystem Inc (NTRI, Financial)
Bill Miller initiated holdings in Specialized Consumer Services company NutriSystem Inc. His purchase prices were between $54.64 and $67.05, with an estimated average price of $62.5. The impact to his portfolio due to this purchase was 0.97%. His holdings were 1,200,000 shares as of 06/30/2007.
NutriSystem, Inc. provides weight management and fitness products and services in the United States. Its weight management program consists of a pre-packaged food program and counseling. NutriSystem Inc has a market cap of $1.86 billion, its shares were traded at around $54.23 with with P/E ratio of 17.24 and P/S ratio of 2.44.
New Purchase: Delta Air Lines Inc. (DAL, Financial)
Bill Miller initiated holdings in Airlines company Delta Air Lines Inc.. His purchase prices were between $18.76 and $20.98, with an estimated average price of $19.4. The impact to his portfolio due to this purchase was 0.52%. His holdings were 2,250,000 shares as of 06/30/2007.
Delta Air Lines, Inc., together with its subsidiaries, operates as an air carrier in the United States and internationally. It provides scheduled air transportation for passengers and cargo. Delta Air Lines Inc. has a market cap of $4.24 billion, its shares were traded at around $16.88 with with P/S ratio of 0.24.
New Purchase: EMC Corp. (EMC, Financial)
Bill Miller initiated holdings in Computer Hardware company EMC Corp.. His purchase prices were between $14.44 and $17.95, with an estimated average price of $16.1. The impact to his portfolio due to this purchase was 0.32%. His holdings were 1,500,000 shares as of 06/30/2007.
EMC Corporation engages in the development, delivery, and support of information infrastructure technologies and solutions worldwide. Its Information Storage segment offers networked information storage systems to be deployed in a storage area network. EMC Corp. has a market cap of $40.77 billion, its shares were traded at around $19.66 with with P/E ratio of 31.92 and P/S ratio of 3.43.
New Purchase: Eagle Materials Inc. (EXP, Financial)
Bill Miller initiated holdings in Building Materials & Fixtures company Eagle Materials Inc.. His purchase prices were between $44.52 and $49.82, with an estimated average price of $47.2. The impact to his portfolio due to this purchase was 0.17%. His holdings were 300,000 shares as of 06/30/2007.
Eagle Materials, Inc., together with its subsidiaries, engages in the manufacture, distribution, and sale of gypsum wallboard and cement primarily in the United States. Eagle Materials Inc. has a market cap of $1.8 billion, its shares were traded at around $37.96 with with P/E ratio of 10.13 and P/S ratio of 2.06.
Reduced: DIRECTV Group Inc. The (DTV, Financial)
Bill Miller reduced to his holdings in Broadcasting & Entertainment company DIRECTV Group Inc. The by 22.2%. His sale prices were between $22.89 and $24.16, with an estimated average price of $23.7. The impact to his portfolio due to this sale was 1.59%. Bill Miller still held 17,277,000 shares as of 06/30/2007.
The DIRECTV Group, Inc. provides digital television entertainment in the United States and Latin America. It operates in two segments, DIRECTV U.S. and DIRECTV Latin America. DIRECTV Group Inc. The has a market cap of $27.65 billion, its shares were traded at around $23.33 with with P/E ratio of 18.96 and P/S ratio of 1.75.
Reduced: Health Net Inc. (HNT, Financial)
Bill Miller reduced to his holdings in Health Care Providers company Health Net Inc. by 21.69%. His sale prices were between $52.8 and $58.07, with an estimated average price of $56.2. The impact to his portfolio due to this sale was 1.53%. Bill Miller still held 7,261,000 shares as of 06/30/2007. Health Net Inc. has a market cap of $6.14 billion, its shares were traded at around $54.79 with with P/E ratio of 18.03 and P/S ratio of 0.46.
Reduced: Foster Wheeler Ltd. (FWLT, Financial)
Bill Miller reduced to his holdings in Heavy Construction company Foster Wheeler Ltd. by 41.67%. His sale prices were between $61.67 and $108.17, with an estimated average price of $88.6. The impact to his portfolio due to this sale was 1.23%. Bill Miller still held 1,400,000 shares as of 06/30/2007. Foster Wheeler Ltd. has a market cap of $8.31 billion, its shares were traded at around $118.44 with with P/E ratio of 25.61 and P/S ratio of 1.90.
Reduced: Syntroleum Corp. (SYNM)
Bill Miller reduced to his holdings in Oil Equipment & Services company Syntroleum Corp. by 23.37%. His sale prices were between $2.76 and $3.39, with an estimated average price of $3.1. The impact to his portfolio due to this sale was 0.08%. Bill Miller still held 3,220,000 shares as of 06/30/2007.
Syntroleum Corporation engages in the research, development, and commercialization of the Syntroleum Process, a proprietary process designed to convert natural gas or synthesis gas into synthetic liquid hydrocarbons. Syntroleum Corp. has a market cap of $116.92 million, its shares were traded at around $1.91 with with P/S ratio of 6.79.
Sold Out: Jarden Corp. (JAH)
Bill Miller sold out his holdings in Nondurable Household Products company Jarden Corp.. His sale prices were between $40.64 and $44.21, with an estimated average price of $42.9. The impact to his portfolio due to this sale was less than 0.01%.
Jarden Corporation engages in the manufacture, sourcing, marketing, and distribution of consumer products used in and around the home. It operates in four segments: Branded Consumables, Consumer Solutions, Outdoor Solutions, and Process Solutions. Jarden Corp. has a market cap of $2.34 billion, its shares were traded at around $32.79 with with P/E ratio of 21.54 and P/S ratio of 0.60.
Sold Out: Masco Corp. (MAS)
Bill Miller sold out his holdings in Building Materials & Fixtures company Masco Corp.. His sale prices were between $26.65 and $30.26, with an estimated average price of $28.5. The impact to his portfolio due to this sale was less than 0.01%.
Masco Corporation manufactures, distributes, and installs home improvement and building products primarily in North America. It operates through five segments: Cabinets and Related Products, Plumbing Products, Installation and Other Services, etc. Masco Corp. has a market cap of $9.59 billion, its shares were traded at around $26.02 with with P/E ratio of 24.97 and P/S ratio of 0.80.
Sold Out: Dell Inc. (DELL)
Bill Miller sold out his holdings in Computer Hardware company Dell Inc.. His sale prices were between $23.51 and $28.45, with an estimated average price of $26.2. The impact to his portfolio due to this sale was less than 0.01%.
Dell, Inc. and its subsidiaries engage in the design, development, manufacture, marketing, sale, and support of various computer systems and services to customers worldwide. Dell Inc. has a market cap of $63.22 billion, its shares were traded at around $28.25.
Sold Out: NIKE Inc. (NKE)
Bill Miller sold out his holdings in Footwear company NIKE Inc.. His sale prices were between $52.85 and $58.29, with an estimated average price of $53.9. The impact to his portfolio due to this sale was less than 0.01%.
NIKE, Inc., a consumer products company, engages in the design, development, and marketing of footwear, apparel, equipment, and accessory products worldwide. NIKE Inc. has a market cap of $27.85 billion, its shares were traded at around $56.34 with with P/E ratio of 18.96 and P/S ratio of 1.74.
Sold Out: Amgen Inc. (AMGN)
Bill Miller sold out his holdings in Biotechnology company Amgen Inc.. His sale prices were between $54.04 and $63.74, with an estimated average price of $58.1. The impact to his portfolio due to this sale was less than 0.01%.
Amgen Inc., a biotechnology company, engages in the discovery, development, manufacture, and marketing of human therapeutics based on advances in cellular and molecular biology. Amgen Inc. has a market cap of $56.86 billion, its shares were traded at around $50.11 with with P/E ratio of 20.17 and P/S ratio of 3.75.
