Bill Miller's Kodak moment is one he won't soon forget. Miller's flagship fund, Legg Mason Capital Management Value Trust[see profile] has sold its stake in the film company for a net loss of $551 million, Bloomberg reports, citing a Securities and Exchange filing.

Miller reportedly began buying Kodak shares in 2000 and, by the end of 2005, owned as much as 25 percent of the Rochester, New York-based company. The fund kept the bulk of its stake for more than a decade, only to sell after Kodak had lost more than 90 percent of its market value. 

Edited by: Hung Tran


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