RCKT - Miller Value Partners Opportunity Equity Q3 2020 Letter
- Miller Value Partners is a value investor. It values businesses, and not just stocks, and invests in them for the long term.
- During the third quarter of 2020, Miller Opportunity Equity returned 13.01% (net of fees) versus the unmanaged benchmark, the S&P 500 Index, return of 8.93%.
- At a macro level, funds have flowed out of public equities into privates, out of active into passive, out of value into growth.
- In the quarter, we added a net of 6 new companies, Uber Technologies, Rocket Companies, Acuity Brands, The RealReal, PureTech, and CVS, and exited 2, Endo International and United Airlines.
For further details see:
Miller Value Partners Opportunity Equity Q3 2020 Letter