Miller Value Partners
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Bill Miller's Miller Value Partners reported 56 stock positions worth $423.1 million. Its top holding was Nabors Industries (NBR) at 8.8% of the portfolio, followed by Gray Media (GTN, 6.8%) and Dir Dai S&P 500 Bu 2X ETF-US (SPUU, 5.8%). Compared with Q1 2026, it opened 4 new positions, sold out of 3, added to 20 and reduced 22. The biggest buy was a new position in Dir Dai S&P 500 Bu 2X ETF-US (SPUU) and the biggest sale an exit from SS SPDR S&P 500 ETF Trust-US (SPY).
- Most Recent 13F
- Q2 2026
- Notable People
- Bill Miller
- Location
- SARASOTA, FL
- CIK
- 0001135778
- Portfolio Value
- $423.1M (Q2 2026)
- SEC Filing
- 0001135778-26-000016 ↗ filed Aug 14, 2026
Holdings Value
Holdings 56 stocks · $423.1M
| NBR Nabors Industries Ltd. | 8.85% | 445,460 | $37.4M | Add +0.2% |
| GTN Gray Media Inc. | 6.80% | 7,243,390 | $28.8M | Add +34.9% |
| SPUU Dir Dai S&P 500 Bu 2X ETF-US | 5.81% | 114,078 | $24.6M | New |
| BLMN Bloomin' Brands Inc. | 5.59% | 2,585,909 | $23.6M | Add +27.0% |
| QUAD Quad Graphics Inc. | 5.06% | 2,538,299 | $21.4M | Reduce -4.3% |
| LNC Lincoln National Corp. | 5.04% | 603,160 | $21.3M | Add +5.7% |
| CRGY Crescent Energy Inc. Class A | 4.86% | 2,092,679 | $20.6M | Add +4.5% |
| CNDT Conduent Inc. | 4.48% | 12,986,100 | $19.0M | Add +29.6% |
| BFH Bread Financial Holdings Inc. | 3.40% | 132,798 | $14.4M | Reduce -31.4% |
| UPS United Parcel Service Class B | 2.95% | 116,003 | $12.5M | Reduce -2.6% |
| DCH Dauch Corporation | 2.92% | 2,282,090 | $12.4M | Add +63.5% |
| TDAY USA Today Co. Inc. | 2.83% | 1,401,080 | $12.0M | Reduce -28.9% |
| VTRS Viatris Inc. | 2.75% | 733,164 | $11.6M | Add +0.2% |
| CTO Cto Realty Growth Inc. filed as CTO RLTY GROWTH INC NEW | 2.75% | 539,900 | $11.6M | Reduce -2.9% |
| JELD Jeld-Wen Holding Inc. | 2.53% | 7,139,095 | $10.7M | Add +7.8% |
| FOSL Fossil Group Inc. | 2.10% | 2,143,445 | $8.9M | Reduce -11.6% |
| COTY Coty Inc. Class A | 2.00% | 3,917,705 | $8.5M | New |
| JXN Jackson Financial Inc. Class A | 1.94% | 80,142 | $8.2M | Reduce -0.7% |
| ITRN Ituran Location and Control | 1.93% | 133,700 | $8.2M | Reduce -34.4% |
| CHRD Chord Energy Corp. | 1.87% | 69,096 | $7.9M | Reduce -0.3% |
| VZ Verizon Communications Inc. | 1.68% | 168,000 | $7.1M | No change |
| MRP Millrose Properties | 1.63% | 229,300 | $6.9M | Add +26.8% |
| UPBD Upbound Group Inc. | 1.29% | 258,000 | $5.5M | Add +115.0% |
| OMF Onemain Holdings Inc. | 1.20% | 82,941 | $5.1M | No change |
| CALM Cal-Maine Foods Inc. | 1.18% | 62,000 | $5.0M | No change |
| ARLP Alliance Resource Partners | 1.06% | 186,981 | $4.5M | Add +0.9% |
| MSTR Strategy Inc. | 1.03% | 50,203 | $4.4M | Reduce -3.6% |
| UGI Ugi Corp. | 0.99% | 121,000 | $4.2M | No change |
| BBW Build-A-Bear Workshop Inc. | 0.97% | 133,567 | $4.1M | Add +28.8% |
| BMY Bristol-Myers Squibb Co. | 0.95% | 69,500 | $4.0M | No change |
| META Meta Platforms Inc. Class A | 0.85% | 6,412 | $3.6M | New |
| CROX Crocs Inc. | 0.82% | 28,856 | $3.5M | Reduce -25.1% |
| WAL Western Alliance Bancorp | 0.81% | 41,755 | $3.4M | Reduce -24.4% |
| ABR Arbor Realty Trust Inc. | 0.78% | 611,000 | $3.3M | Add +1.2% |
| CTRN Citi Trends Inc. | 0.74% | 54,200 | $3.1M | Add +0.8% |
| MELI MercadoLibre Inc. | 0.69% | 1,712 | $2.9M | Reduce -22.7% |
| BCC Boise Cascade Co. | 0.68% | 37,000 | $2.9M | No change |
| FIGR Figure Technology Solut Class A | 0.65% | 89,668 | $2.8M | Reduce -1.5% |
| ZD Ziff Davis Inc. | 0.63% | 50,602 | $2.7M | Reduce -25.6% |
| CART Maplebear Inc. | 0.51% | 45,645 | $2.2M | Add +0.2% |
| REZI Resideo Technologies Inc. | 0.51% | 68,931 | $2.1M | Reduce -1.2% |
| AMP Ameriprise Financial Inc. | 0.48% | 4,428 | $2.0M | New |
| LYB Lyondellbasell Indu Class A | 0.47% | 38,000 | $2.0M | No change |
| BLDR Builders Firstsource Inc. | 0.40% | 19,115 | $1.7M | Add +1.2% |
| CG The Carlyle Group Inc. | 0.40% | 40,000 | $1.7M | No change |
| FOUR SHIFT4 Payments Inc. Class A | 0.34% | 29,965 | $1.5M | Reduce -0.2% |
| PRDO Perdoceo Education Corp. | 0.30% | 40,288 | $1.3M | Reduce -0.3% |
| ABNB Airbnb Inc. Class A | 0.30% | 8,921 | $1.3M | Reduce -44.7% |
| PINS Pinterest Inc. Class A | 0.29% | 57,860 | $1.2M | Reduce -3.5% |
| CPNG Coupang Inc. | 0.26% | 64,124 | $1.1M | Add +2.5% |
| SN Sharkninja Inc. | 0.21% | 5,932 | $903K | Add +2.7% |
| LAD Lithia Motors Inc. | 0.19% | 2,712 | $788K | Add +2.2% |
| VRM Vroom Inc. | 0.11% | 58,488 | $450K | No change |
| UNFI United Natural Foods Inc. | 0.05% | 4,705 | $215K | Reduce -10.4% |
| FTI Technipfmc PLC | 0.05% | 3,170 | $210K | No change |
| TPC Tutor Perini Corp. | 0.05% | 2,470 | $205K | Reduce -11.6% |
Portfolio Sells Q1 2026 → Q2 2026
| SPY SS SPDR S&P 500 ETF Trust-US | Sold out | 0.00% | −5.10 |
| TDAY USA Today Co. Inc. | Reduce -28.9% | 2.83% | −0.79 |
| CHRD Chord Energy Corp. | Reduce -0.3% | 1.87% | −0.71 |
| ITRN Ituran Location and Control | Reduce -34.4% | 1.93% | −0.68 |
| MSTR Strategy Inc. | Reduce -3.6% | 1.03% | −0.66 |
| FOSL Fossil Group Inc. | Reduce -11.6% | 2.10% | −0.63 |
| BFH Bread Financial Holdings Inc. | Reduce -31.4% | 3.40% | −0.38 |
| MELI MercadoLibre Inc. | Reduce -22.7% | 0.69% | −0.31 |
| JXN Jackson Financial Inc. Class A | Reduce -0.7% | 1.94% | −0.29 |
| ABNB Airbnb Inc. Class A | Reduce -44.7% | 0.30% | −0.23 |
| MBC Masterbrand Inc. | Sold out | 0.00% | −0.23 |
| WAL Western Alliance Bancorp | Reduce -24.4% | 0.81% | −0.21 |
| PTLO Portillo's Inc. Class A | Sold out | 0.00% | −0.18 |
| FIGR Figure Technology Solut Class A | Reduce -1.5% | 0.65% | −0.16 |
| ZD Ziff Davis Inc. | Reduce -25.6% | 0.63% | −0.12 |
| UPS United Parcel Service Class B | Reduce -2.6% | 2.95% | −0.11 |
| REZI Resideo Technologies Inc. | Reduce -1.2% | 0.51% | −0.11 |
| PRDO Perdoceo Education Corp. | Reduce -0.3% | 0.30% | −0.09 |
| CROX Crocs Inc. | Reduce -25.1% | 0.82% | −0.01 |
| UNFI United Natural Foods Inc. | Reduce -10.4% | 0.05% | −0.01 |
| TPC Tutor Perini Corp. | Reduce -11.6% | 0.05% | −0.01 |
| PINS Pinterest Inc. Class A | Reduce -3.5% | 0.29% | +0.00 |
| FOUR SHIFT4 Payments Inc. Class A | Reduce -0.2% | 0.34% | +0.00 |
| CTO Cto Realty Growth Inc. | Reduce -2.9% | 2.75% | +0.06 |
| QUAD Quad Graphics Inc. | Reduce -4.3% | 5.06% | +0.48 |
Portfolio Buys Q1 2026 → Q2 2026
| SPUU Dir Dai S&P 500 Bu 2X ETF-US | New | 5.81% | +5.81 |
| BLMN Bloomin' Brands Inc. | Add +27.0% | 5.59% | +2.72 |
| COTY Coty Inc. Class A | New | 2.00% | +2.00 |
| CNDT Conduent Inc. | Add +29.6% | 4.48% | +1.13 |
| META Meta Platforms Inc. Class A | New | 0.85% | +0.85 |
| DCH Dauch Corporation | Add +63.5% | 2.92% | +0.76 |
| UPBD Upbound Group Inc. | Add +115.0% | 1.29% | +0.73 |
| GTN Gray Media Inc. | Add +34.9% | 6.80% | +0.71 |
| AMP Ameriprise Financial Inc. | New | 0.48% | +0.48 |
| JELD Jeld-Wen Holding Inc. | Add +7.8% | 2.53% | +0.39 |
| MRP Millrose Properties | Add +26.8% | 1.63% | +0.31 |
| VTRS Viatris Inc. | Add +0.2% | 2.75% | +0.17 |
| CTRN Citi Trends Inc. | Add +0.8% | 0.74% | +0.13 |
| CART Maplebear Inc. | Add +0.2% | 0.51% | +0.07 |
| SN Sharkninja Inc. | Add +2.7% | 0.21% | +0.05 |
| LAD Lithia Motors Inc. | Add +2.2% | 0.19% | +0.01 |
| BLDR Builders Firstsource Inc. | Add +1.2% | 0.40% | −0.00 |
| CPNG Coupang Inc. | Add +2.5% | 0.26% | −0.04 |
| BBW Build-A-Bear Workshop Inc. | Add +28.8% | 0.97% | −0.05 |
| LNC Lincoln National Corp. | Add +5.7% | 5.04% | −0.25 |
| ARLP Alliance Resource Partners | Add +0.9% | 1.06% | −0.28 |
| ABR Arbor Realty Trust Inc. | Add +1.2% | 0.78% | −0.43 |
| NBR Nabors Industries Ltd. | Add +0.2% | 8.85% | −1.14 |
| CRGY Crescent Energy Inc. Class A | Add +4.5% | 4.86% | −2.20 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 56 | $423.1M | NBR, GTN, SPUU, BLMN, QUAD |
| Q1 2026 | 55 | $383.2M | NBR, CRGY, GTN, LNC, SPY |
| Q4 2025 | 34 | $283.8M | NBR, LNC, GTN, TDAY, QUAD |
| Q3 2025 | 36 | $272.2M | NBR, LNC, GTN, QUAD, BFH |
| Q2 2025 | 33 | $235.7M | LNC, BFH, NBR, GTN, QUAD |
| Q1 2025 | 34 | $219.4M | LNC, NBR, BFH, GTN, QUAD |
| Q4 2024 | 33 | $234.2M | BFH, QUAD, NBR, LNC, T |
| Q3 2024 | 30 | $177.2M | BFH, LNC, JXN, T, WAL |
| Q2 2024 | 28 | $149.7M | BFH, T, JXN, LNC, WAL |
| Q1 2024 | 29 | $145.0M | STLA, T, JXN, BFH, WAL |