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Miller Value Partners, LLC Bill Miller

Sarasota, FL 21 processed 13Fs on this site, 2021 Q3 to 2026 Q2

  • $423M
  • 56 holdings
  • 2026 Q2
  • +10.4% QoQ
  • Top 5 32.1%

Bill Miller's biggest moves in 2026 Q2 were opening Direxion Shares ETF Trust and COTY, adding to Bloomin Brands and Crescent Energy, trimming USA Today and Chord Energy, and selling out of SPDR S&P 500 ETF Trust and Masterbrand.

Portfolio

2026 Q2, filed 8/14/2026, top 12 of 56 holdings

Top 5 32.1%, top 10 52.9%

  1. NBR, Nabors Industries 8.8%
  2. GTN, Gray Media 6.8%
  3. SPUU, Direxion Shares ETF Trust 5.8%
  4. BLMN, Bloomin Brands 5.6%
  5. QUAD, Quad / Graphics 5.1%
  6. LNC, Lincoln National Corporation Ind 5.0%
  7. CRGY, Crescent Energy 4.9%
  8. CNDT, Conduent 4.5%
  9. BFH, Bread Financial 3.4%
  10. UPS 3.0%
  11. DCH, Dauch 2.9%
  12. GCI, USA Today 2.8%
  13. Other 41.4%

AUM over time

2026 Q2 $423M +10.4% QoQ
2021 Q3: $4.3B 2021 Q3: $4.3B
Q3 2021
2021 Q4: $3.7B, −15.3% QoQ 2021 Q4: $3.7B, −15.3% QoQ
Q4
2022 Q1: $3.1B, −14.9% QoQ 2022 Q1: $3.1B, −14.9% QoQ
Q1 2022
2022 Q2: $2B, −36.6% QoQ 2022 Q2: $2B, −36.6% QoQ
Q2
2022 Q3: $1.6B, −16.4% QoQ 2022 Q3: $1.6B, −16.4% QoQ
Q3
2022 Q4: $1.6B, −5.8% QoQ 2022 Q4: $1.6B, −5.8% QoQ
Q4
2023 Q1: $1.6B, +3.2% QoQ 2023 Q1: $1.6B, +3.2% QoQ
Q1 2023
2023 Q2: $152M, −90.5% QoQ 2023 Q2: $152M, −90.5% QoQ
Q2
2023 Q3: $159M, +4.6% QoQ 2023 Q3: $159M, +4.6% QoQ
Q3
2023 Q4: $168M, +5.7% QoQ 2023 Q4: $168M, +5.7% QoQ
Q4
2024 Q1: $156M, −7.1% QoQ 2024 Q1: $156M, −7.1% QoQ
Q1 2024
2024 Q2: $157M, +0.6% QoQ 2024 Q2: $157M, +0.6% QoQ
Q2
2024 Q3: $177M, +12.7% QoQ 2024 Q3: $177M, +12.7% QoQ
Q3
2024 Q4: $234M, +32.2% QoQ 2024 Q4: $234M, +32.2% QoQ
Q4
2025 Q1: $219M, −6.4% QoQ 2025 Q1: $219M, −6.4% QoQ
Q1 2025
2025 Q2: $236M, +7.8% QoQ 2025 Q2: $236M, +7.8% QoQ
Q2
2025 Q3: $272M, +15.3% QoQ 2025 Q3: $272M, +15.3% QoQ
Q3
2025 Q4: $284M, +4.4% QoQ 2025 Q4: $284M, +4.4% QoQ
Q4
2026 Q1: $383M, +34.9% QoQ 2026 Q1: $383M, +34.9% QoQ
Q1 2026
2026 Q2: $423M, +10.4% QoQ 2026 Q2: $423M, +10.4% QoQ
Q2

Latest book

2026 Q2 2026 Q1, filed 14 Aug, long equity only

Download CSV Download Excel All activity
NBR, Nabors Industries 8.85% Add +0.2% 445,460 $84.01 $37M +1,030 −$825K
GTN, Gray Media 6.80%, was 6.08% Add +34.9% 7,243,390 $3.97 $29M +1,873,290 +$5.5M
SPUU, Direxion Shares ETF Trust 5.81% New 114,078 $215.61 $25M +114,078 +$25M
BLMN, Bloomin Brands 5.59%, was 2.87% Add +27.0% 2,585,909 $9.14 $24M +549,175 +$13M
QUAD, Quad / Graphics 5.06% Reduce −4.3% 2,538,299 $8.43 $21M −112,740 +$3.9M
LNC, Lincoln National Corporation Ind 5.04% Add +5.7% 603,160 $35.35 $21M +32,470 +$1.1M
CRGY, Crescent Energy 4.86% Add +4.5% 2,092,679 $9.82 $21M +89,547 −$6.5M
CNDT, Conduent 4.48%, was 3.35% Add +29.6% 12,986,100 $1.46 $19M +2,962,170 +$6.1M
BFH, Bread Financial 3.40%, was 3.79% Reduce −31.4% 132,798 $108.35 $14M −60,899 −$117K
UPS 2.95%, was 3.06% Reduce −2.6% 116,003 $107.50 $12M −3,105 +$752K
DCH, Dauch 2.92%, was 2.16% Add +63.5% 2,282,090 $5.42 $12M +886,185 +$4.1M
GCI, USA Today 2.83%, was 3.62% Reduce −28.9% 1,401,080 $8.55 $12M −568,200 −$1.9M
VTRS, Viatris 2.75%, was 2.58% Add +0.2% 733,164 $15.88 $12M +1,488 +$1.8M
CTO, Cto Realty Growth 2.74% Reduce −2.9% 539,900 $21.51 $12M −16,153 +$1.3M
JELD, Jeld-Wen 2.53%, was 2.14% Add +7.8% 7,139,095 $1.50 $11M +519,210 +$2.5M
FOSL, Fossil Group 2.10%, was 2.73% Reduce −11.6% 2,143,445 $4.14 $8.9M −281,740 −$1.6M
COTY 2.00% New 3,917,705 $2.16 $8.5M +3,917,705 +$8.5M
JXN, Jackson Financial 1.94%, was 2.23% Reduce −0.7% 80,142 $102.39 $8.2M −538 −$324K
ITRN, Ituran Location And Control 1.93%, was 2.61% Reduce −34.4% 133,700 $61.01 $8.2M −70,200 −$1.8M
CHRD, Chord Energy 1.87%, was 2.57% Reduce −0.3% 69,096 $114.30 $7.9M −234 −$2M
VZ, Verizon 1.68% Hold 168,000 $42.34 $7.1M — —
MRP, Millrose Properties 1.63%, was 1.32% Add +26.8% 229,300 $30.05 $6.9M +48,500 +$1.8M
UPBD, Upbound Group 1.29%, was 0.57% Add +115.0% 258,000 $21.22 $5.5M +138,000 +$3.3M
OMF, Onemain 1.20% Hold 82,941 $60.97 $5.1M — —
CALM, Cal Maine Foods 1.18% Hold 62,000 $80.56 $5M — —
ARLP 1.06% Add +0.9% 186,981 $23.98 $4.5M +1,725 −$639K
MSTR, Strategy 1.03%, was 1.70% Reduce −3.6% 50,203 $86.93 $4.4M −1,855 −$2.1M
UGI 0.99% Hold 121,000 $34.54 $4.2M — —
BBW, Build-A-Bear Workshop 0.97% Add +28.8% 133,567 $30.61 $4.1M +29,833 +$204K
BMY, Bristol Myers Squibb 0.95% Hold 69,500 $57.62 $4M — —
META, Meta Platforms 0.85% New 6,412 $563.29 $3.6M +6,412 +$3.6M
CROX, Crocs 0.82%, was 0.84% Reduce −25.1% 28,856 $120.64 $3.5M −9,692 +$281K
WST, Western Alliance Bancorp 0.81%, was 1.02% Reduce −24.4% 41,755 $82.20 $3.4M −13,497 −$482K
ABR, Arbor Realty Trust 0.78% Add +1.2% 611,000 $5.42 $3.3M +7,000 −$1.3M
CTRN, Citi Trends 0.74%, was 0.61% Add +0.8% 54,200 $57.84 $3.1M +437 +$806K
MELI, MercadoLibre 0.69%, was 1.00% Reduce −22.7% 1,712 $1,697 $2.9M −503 −$924K
BCC, Boise Cascade 0.68% Hold 37,000 $77.63 $2.9M — —
FIGR, Figure Technology 0.65%, was 0.81% Reduce −1.5% 89,668 $30.71 $2.8M −1,341 −$336K
ZD, Ziff Davis 0.63%, was 0.75% Reduce −25.6% 50,602 $52.37 $2.7M −17,456 −$206K
CART, Maplebear 0.51%, was 0.45% Add +0.2% 45,645 $47.35 $2.2M +88 +$455K
REZI, Resideo Technologies 0.51%, was 0.61% Reduce −1.2% 68,931 $31.10 $2.1M −831 −$208K
AMP, Ameriprise Financial 0.48% New 4,428 $458.76 $2M +4,428 +$2M
LYB, Lyondellbasell Industries 0.47% Hold 38,000 $52.65 $2M — —
BLDR, Builders FirstSource 0.40% Add +1.2% 19,115 $89.48 $1.7M +222 +$155K
CG, Carlyle Group 0.40% Hold 40,000 $42.11 $1.7M — —
FOUR, Shift4 Payments 0.34% Reduce −0.2% 29,965 $48.64 $1.5M −70 +$144K
PRDO, Perdoceo Ed 0.30%, was 0.39% Reduce −0.3% 40,288 $32.00 $1.3M −107 −$214K
ABNB, Airbnb 0.30%, was 0.53% Reduce −44.7% 8,921 $143.10 $1.3M −7,213 −$761K
PINS, Pinterest 0.29% Reduce −3.6% 57,860 $21.03 $1.2M −2,130 +$117K
CPNG, Coupang 0.26% Add +2.6% 64,124 $17.37 $1.1M +1,596 −$67K

Showing top 50 of 56 by value

Exits / last held

Gone since 2026 Q1, shown at their last reported size.

Stock % of portfolio Recent activity Shares Reported price* Value Share change $ change
SPY, SPDR S&P 500 ETF Trust 5.10% Exit 0 $650.35 $20M −30,044 −$20M
MBC, Masterbrand 0.23% Exit 0 $8.31 $871K −104,854 −$871K
PTLO, Portillos 0.18% Exit 0 $5.29 $684K −129,323 −$684K

Weight bar: held both quarters added sold at this quarter’s reported price

* Reported price is value ÷ shares from the 13F as of period end, not a live market quote. Weight % is each long-equity position ÷ full 13F AUM, so rows may not sum to 100% when the filing includes options or other non-equity (excluded from this table). Share change and $ change are vs 2026 Q1. Click a column header to sort, or New, Hold, Add or Reduce to bring those moves to the top. Exit opens the last-held block below.

Filings history

20 periods, with AUM normalized

Newest 13Fs
Period Holds AUM QoQ Form Filed Filing ID
2026 Q2 56 $423M +10.4% 13F-HR 8/14/2026 000113577826000016
2026 Q1 55 $383M +34.9% 13F-HR 5/15/2026 000113577826000011
2025 Q4 34 $284M +4.4% 13F-HR 2/17/2026 000113577826000003
2025 Q3 36 $272M +15.3% 13F-HR 11/14/2025 000113577825000003
2025 Q2 33 $236M +7.8% 13F-HR 8/14/2025 000108514625005135
2025 Q1 34 $219M −6.4% 13F-HR 5/15/2025 000108514625003193
2024 Q4 33 $234M +32.2% 13F-HR 2/14/2025 000108514625001536
2024 Q3 30 $177M +12.7% 13F-HR 11/14/2024 000108514624005777
2024 Q2 29 $157M +0.6% 13F-HR 8/13/2024 000108514624003791
2024 Q1 30 $156M −7.1% 13F-HR 5/7/2024 000113577824000001
2023 Q4 42 $168M +5.7% 13F-HR 2/14/2024 000108514624001377
2023 Q3 46 $159M +4.6% 13F-HR 11/14/2023 000108514623004441
2023 Q2 46 $152M −90.5% 13F-HR 8/14/2023 000108514623003399
2023 Q1 90 $1.6B +3.2% 13F-HR 5/15/2023 000108514623002384
2022 Q4 84 $1.6B — RESTATEMENT 2/14/2023 000108514623001267
2022 Q4 84 $1.6B −5.8% 13F-HR 2/14/2023 000108514623001251
2022 Q3 92 $1.6B −16.4% 13F-HR 11/14/2022 000108514622004042
2022 Q2 119 $2B −36.6% 13F-HR 8/15/2022 000108514622003091
2022 Q1 126 $3.1B −14.9% 13F-HR 5/16/2022 000108514622002148
2021 Q4 129 $3.7B −15.3% 13F-HR 2/14/2022 000108514622001016
2021 Q3 125 $4.3B — 13F-HR 11/15/2021 000108514621003318

About

Miller Value Partners, LLC

21 processed 13Fs on this site, 2021 Q3 to 2026 Q2

Notable person
Bill Miller
SEC filing name
MILLER VALUE PARTNERS, LLC
Location
Sarasota, FL
All SEC filings
View on sec.gov