Scharf Investments Takes 2.1% Passive Stake in MILLERKNOLL

TL;DR

**Scharf Investments just bought 2.1% of MILLERKNOLL, a bullish sign for the stock.**

AI Summary

Scharf Investments, LLC, a California-based investment firm, has disclosed a significant passive stake in MILLERKNOLL, INC. (MLKN), the office furniture giant. As of December 31, 2023, Scharf Investments beneficially owns 1,600,000 shares of MLKN, representing 2.1% of the company's outstanding common stock. This filing indicates a notable vote of confidence from an institutional investor, suggesting they see long-term value in MILLERKNOLL, which could be a positive signal for current and prospective shareholders.

Why It Matters

This filing reveals a new institutional investor, Scharf Investments, has acquired a significant stake in MILLERKNOLL, signaling their belief in the company's future prospects and potentially boosting investor confidence.

Risk Assessment

Risk Level: low — This filing indicates a passive investment by an institutional holder, which generally carries a low risk of immediate negative impact on the stock.

Analyst Insight

A smart investor would view this as a positive signal, potentially indicating institutional confidence in MILLERKNOLL's long-term value, and might consider further research into the company's fundamentals.

Key Numbers

• 1,600,000 — Shares Beneficially Owned (Represents the total number of MILLERKNOLL shares held by Scharf Investments, LLC.)
• 2.1% — Percentage of Class (Indicates the proportion of MILLERKNOLL's outstanding common stock now owned by Scharf Investments, LLC.)
• 600544100 — CUSIP Number (Unique identifier for MILLERKNOLL, Inc. securities.)

Key Players & Entities

• Scharf Investments, LLC (company) — the reporting person acquiring shares
• MILLERKNOLL, INC. (company) — the subject company whose shares were acquired
• 1,600,000 shares (dollar_amount) — the total number of shares beneficially owned by Scharf Investments
• 2.1% (dollar_amount) — the percentage of MILLERKNOLL's class of securities owned by Scharf Investments
• December 31, 2023 (person) — the date of the event requiring the filing

Forward-Looking Statements

• MILLERKNOLL's stock price will see a modest positive reaction due to increased institutional ownership. (MILLERKNOLL, INC.) — medium confidence, target: Q1 2024
• Scharf Investments will maintain its passive stake in MILLERKNOLL for the foreseeable future. (Scharf Investments, LLC) — high confidence, target: Q4 2024

FAQ

Filing Documents

• mlkn_11224.htm (SC 13G) — 25KB
• 0001085146-24-000325.txt ( ) — 27KB

(a)

ITEM 1(a). NAME OF ISSUER: MILLER KNOLL, Inc

(b)

ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 855 E Main Ave, Zeeland, MI 49464

(a)

ITEM 2(a). NAME OF PERSON FILING: Scharf Investments, LLC

(b)

ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: 16450 LOS GATOS BLVD, SUITE 207, LOS GATOS, CA, 95032

(c)

ITEM 2(c). CITIZENSHIP: Los Gatos, California

(d)

ITEM 2(d). TITLE OF CLASS OF SECURITIES:

(e)

ITEM 2(e). CUSIP NUMBER: 600544100 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTION 240.13d-1(b), or 13d-2(b) or (c) CHECK WHETHER THE PERSON FILING IS A: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78c); (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c); (c) [ ] Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c); (d) [ ] Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8); (e) [X] An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) [X] A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J); (k) [ ] Group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d1(b)(1)(ii)(J), please specify the type of institution: ITEM 4. (a) Amount beneficially owned: 4,810,050 (b) Percent of class: 6.61% (c) Number of shares as to which the person has: (i) sole power to vote or to direct the vote: 1,984,876 (ii) shared power to vote or to direct the vote: 69,723 (iii) sole power to dispose or direct the disposition of: 2,755,451 (iv) shared power to dispose or to direct the disposition of: 4,810,050 ITEM 5. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class

View Full Filing

View this SC 13G filing on SEC EDGAR