In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 7, 2024), Bill Miller's Miller Value Partners reported 29 stock positions worth $145.0 million . Its top holding was Stellantis (STLA) at 8.4% of the portfolio, followed by AT&T (T, 7.1% ) and Jackson Financial Class A (JXN, 7.0% ). Compared with Q4 2023, it opened 5 new positions, sold out of 17, added to 6 and reduced 18. The biggest buy was a new position in Lincoln National (LNC) and the biggest sale an exit from Proshares Ultrapro S&P 500 (UPRO).
Notable People Bill Miller
Location SARASOTA, FL
CIK 0001135778
Portfolio Value $145.0M (Q1 2024) Holdings 29 stocks · $145.0M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2023 STLA Stellantis NV 430,000 $12.2M Reduce -13.3% T AT&T Inc. 588,000 $10.3M Add +6.5% JXN Jackson Financial Inc. Class A 152,610 $10.1M Reduce -23.6% BFH Bread Financial Holdings Inc. 254,770 $9.5M Reduce -17.3% WAL Western Alliance Bancorp 144,305 $9.3M Reduce -17.4% OMF Onemain Holdings Inc. 153,000 $7.8M Reduce -5.6% QUAD Quad Graphics Inc. 1,430,300 $7.6M Reduce -10.7% CTO Cto Realty Growth Inc. filed as CTO RLTY GROWTH INC NEW 443,900 $7.5M Add +3.5% VTRS Viatris Inc. 619,000 $7.4M Reduce -13.0% LNC Lincoln National Corp. 198,990 $6.4M New CHRD Chord Energy Corp. 34,670 $6.2M New BCC Boise Cascade Co. 40,000 $6.1M Add +700.0% BKE The Buckle Inc. 150,000 $6.0M Reduce -9.1% TDAY USA Today Co. Inc. filed as GANNETT CO INC 2,468,575 $6.0M Reduce -1.0% NBR Nabors Industries Ltd. 69,761 $6.0M Add +6.3% UGI Ugi Corp. 167,000 $4.1M New BMY Bristol-Myers Squibb Co. 60,000 $3.3M New TPC Tutor Perini Corp. 214,560 $3.1M Reduce -6.2% GTN Gray Media Inc. filed as GRAY TELEVISION INC 489,188 $3.1M Add +21.1% WIRE Encore Wire Corp. 11,000 $2.9M Reduce -54.7% CNDT Conduent Inc. 718,600 $2.4M Reduce -0.8% ARLP Alliance Resource Partners 117,000 $2.3M Reduce -21.5% GEO The Geo Group Inc. 145,000 $2.0M Reduce -62.1% DCH Dauch Corporation filed as AMERICAN AXLE & MFG HLDGS IN 198,355 $1.5M Reduce -4.9% FOSL Fossil Group Inc. 1,091,750 $1.1M Add +9.4% CLF Cleveland-Cliffs Inc. 9,198 $209K New FTI Technipfmc PLC 8,185 $206K Reduce -81.2% PBI Pitney Bowes Inc. 40,584 $176K Reduce -5.3% TEVA Teva Pharmaceutical-SP ADR 11,600 $164K Reduce -13.4%
Other holdings (1): bonds, preferreds, convertibles and warrants · $11.4M (not counted above) Total filed on the 13F, all lines: $156.4M.
Portfolio Sells Q4 2023 → Q1 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▲ UPRO Proshares Ultrapro S&P 500 Sold out 0.00% −6.27 MPT Medical Properties Trust Inc. Sold out 0.00% −2.98 HRB H&R Block Inc. Sold out 0.00% −1.87 MED Medifast Inc. Sold out 0.00% −1.73 BLDR Builders Firstsource Inc. Sold out 0.00% −1.33 WIRE Encore Wire Corp. Reduce -54.7% 1.99% −1.19 CROX Crocs Inc. Sold out 0.00% −1.17 GEO The Geo Group Inc. Reduce -62.1% 1.41% −1.13 CNC Centene Corp. Sold out 0.00% −1.00 MBC Masterbrand Inc. Sold out 0.00% −0.96 WAL Western Alliance Bancorp Reduce -17.4% 6.39% −0.65 BKE The Buckle Inc. Reduce -9.1% 4.17% −0.64 ABNB Airbnb Inc. Class A Sold out 0.00% −0.50 BZH Beazer Homes USA Inc. Sold out 0.00% −0.48 EXPE Expedia Group Inc. Sold out 0.00% −0.46 LAD Lithia Motors Inc. Sold out 0.00% −0.40 FTI Technipfmc PLC Reduce -81.2% 0.14% −0.40 ATKR Atkore Inc. Sold out 0.00% −0.39 PRDO Perdoceo Education Corp. Sold out 0.00% −0.38 ARLP Alliance Resource Partners Reduce -21.5% 1.62% −0.32 MTCH Match Group Inc. Sold out 0.00% −0.31 LYB Lyondellbasell Indu Class A Sold out 0.00% −0.26 RICK Rci Hospitality Holdings Inc. Sold out 0.00% −0.25 DCH Dauch Corporation Reduce -4.9% 1.01% −0.12 QUAD Quad Graphics Inc. Reduce -10.7% 5.24% −0.08 PBI Pitney Bowes Inc. Reduce -5.3% 0.12% +0.01 TEVA Teva Pharmaceutical-SP ADR Reduce -13.4% 0.11% +0.03 CNDT Conduent Inc. Reduce -0.8% 1.67% +0.05 BFH Bread Financial Holdings Inc. Reduce -17.3% 6.54% +0.33 VTRS Viatris Inc. Reduce -13.0% 5.10% +0.38 OMF Onemain Holdings Inc. Reduce -5.6% 5.39% +0.51 TDAY USA Today Co. Inc. Reduce -1.0% 4.15% +0.64 JXN Jackson Financial Inc. Class A Reduce -23.6% 6.96% +0.70 TPC Tutor Perini Corp. Reduce -6.2% 2.14% +0.86 STLA Stellantis NV Reduce -13.3% 8.39% +1.31
Portfolio Buys Q4 2023 → Q1 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▼ LNC Lincoln National Corp. New 4.38% +4.38 CHRD Chord Energy Corp. New 4.26% +4.26 BCC Boise Cascade Co. Add +700.0% 4.23% +3.83 UGI Ugi Corp. New 2.83% +2.83 BMY Bristol-Myers Squibb Co. New 2.24% +2.24 T AT&T Inc. Add +6.5% 7.14% +1.46 NBR Nabors Industries Ltd. Add +6.3% 4.14% +0.86 CTO Cto Realty Growth Inc. Add +3.5% 5.19% +0.64 CLF Cleveland-Cliffs Inc. New 0.14% +0.14 GTN Gray Media Inc. Add +21.1% 2.13% −0.09 FOSL Fossil Group Inc. Add +9.4% 0.77% −0.12
Notes & Other Activity Q4 2023 → Q1 2024 Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
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