In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Bill Miller's Miller Value Partners reported 30 stock positions worth $177.2 million . Its top holding was Bread Financial (BFH) at 6.9% of the portfolio, followed by Lincoln National (LNC, 6.8% ) and Jackson Financial Class A (JXN, 6.7% ). Compared with Q2 2024, it opened 2 new positions, added to 12 and reduced 10. The biggest buy was a new position in Strategy (MSTR) and the biggest sale Stellantis (STLA, shares −7% ).
Notable People Bill Miller
Location SARASOTA, FL
CIK 0001135778
Portfolio Value $177.2M (Q3 2024) Holdings 30 stocks · $177.2M 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 Q2 2024 BFH Bread Financial Holdings Inc. 258,530 $12.3M Add +1.5% LNC Lincoln National Corp. 383,215 $12.1M Add +16.2% JXN Jackson Financial Inc. Class A 130,335 $11.9M Reduce -10.6% T AT&T Inc. 533,000 $11.7M Reduce -9.3% WAL Western Alliance Bancorp 132,945 $11.5M Reduce -6.5% NBR Nabors Industries Ltd. 140,965 $9.1M Add +36.0% QUAD Quad Graphics Inc. 1,883,815 $8.6M Add +30.2% MSTR Strategy Inc. filed as MICROSTRATEGY INC 50,250 $8.5M New GTN Gray Media Inc. filed as GRAY TELEVISION INC 1,458,120 $7.8M Add +88.8% TDAY USA Today Co. Inc. filed as GANNETT CO INC 1,371,435 $7.7M Reduce -10.0% CTO Cto Realty Growth Inc. filed as CTO RLTY GROWTH INC NEW 383,900 $7.3M Reduce -13.5% VTRS Viatris Inc. 619,000 $7.2M No change OMF Onemain Holdings Inc. 149,000 $7.0M No change CHRD Chord Energy Corp. 52,766 $6.9M Add +17.3% BCC Boise Cascade Co. 40,000 $5.6M No change BKE The Buckle Inc. 125,000 $5.5M Reduce -16.7% STLA Stellantis NV 390,000 $5.5M Reduce -7.1% BBW Build-A-Bear Workshop Inc. 150,000 $5.2M Add +114.3% UGI Ugi Corp. 202,000 $5.1M Reduce -14.8% UNFI United Natural Foods Inc. 271,115 $4.6M Add +32.5% BMY Bristol-Myers Squibb Co. 80,000 $4.1M Add +33.3% CNDT Conduent Inc. 900,935 $3.6M Add +20.6% ARLP Alliance Resource Partners 117,000 $2.9M No change FOSL Fossil Group Inc. 1,333,200 $1.6M Add +22.5% TPC Tutor Perini Corp. 54,800 $1.5M Reduce -36.9% DCH Dauch Corporation filed as AMERICAN AXLE & MFG HLDGS IN 233,640 $1.4M Add +21.6% TTE Totalenergies SE -Spon ADR 7,650 $494K New FTI Technipfmc PLC 8,185 $215K No change TEVA Teva Pharmaceutical-SP ADR 10,950 $197K No change PBI Pitney Bowes Inc. 24,259 $173K Reduce -22.8%
Portfolio Sells Q2 2024 → Q3 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 Q2 2024 % Of Portfolio Change To Portfolio ▲ STLA Stellantis NV Reduce -7.1% 3.09% −2.48 CTO Cto Realty Growth Inc. Reduce -13.5% 4.12% −1.06 T AT&T Inc. Reduce -9.3% 6.62% −0.89 UGI Ugi Corp. Reduce -14.8% 2.85% −0.77 BKE The Buckle Inc. Reduce -16.7% 3.10% −0.60 JXN Jackson Financial Inc. Class A Reduce -10.6% 6.71% −0.52 TPC Tutor Perini Corp. Reduce -36.9% 0.84% −0.42 TDAY USA Today Co. Inc. Reduce -10.0% 4.35% −0.34 PBI Pitney Bowes Inc. Reduce -22.8% 0.10% −0.01 WAL Western Alliance Bancorp Reduce -6.5% 6.49% +0.53
Portfolio Buys Q2 2024 → Q3 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 Q2 2024 % Of Portfolio Change To Portfolio ▼ MSTR Strategy Inc. New 4.78% +4.78 GTN Gray Media Inc. Add +88.8% 4.41% +1.73 BBW Build-A-Bear Workshop Inc. Add +114.3% 2.91% +1.73 UNFI United Natural Foods Inc. Add +32.5% 2.57% +0.78 BMY Bristol-Myers Squibb Co. Add +33.3% 2.34% +0.67 CNDT Conduent Inc. Add +20.6% 2.05% +0.42 TTE Totalenergies SE -Spon ADR New 0.28% +0.28 NBR Nabors Industries Ltd. Add +36.0% 5.13% +0.20 LNC Lincoln National Corp. Add +16.2% 6.82% −0.04 DCH Dauch Corporation Add +21.6% 0.82% −0.08 FOSL Fossil Group Inc. Add +22.5% 0.88% −0.17 QUAD Quad Graphics Inc. Add +30.2% 4.83% −0.44 BFH Bread Financial Holdings Inc. Add +1.5% 6.94% −0.64 CHRD Chord Energy Corp. Add +17.3% 3.88% −1.16
Notes & Other Activity Q2 2024 → Q3 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