Bill Miller (Miller Value Partners) portfolio: Q2 2026 13F
Every US-listed position Miller Value Partners reported in its 13F for Q2 2026, the quarter ended Jun 30, 2026, filed with the SEC on Aug 14, 2026. 56 positions at the quarter end, after opening 4 and exiting 3 during it.
50 largest positions
| Ticker | Company | Allocation | Value | Shares | Change |
|---|---|---|---|---|---|
| NBR | Nabors Industries Ltd | 8.85% | $37.42M | 445,460 | Added |
| GTN | Gray Media, Inc | 6.80% | $28.76M | 7,243,390 | Added |
| SPUU | Direxion Daily S&P 500 Bull 2X Shares | 5.81% | $24.60M | 114,078 | New |
| BLMN | Bloomin' Brands, Inc. | 5.59% | $23.64M | 2,585,909 | Added |
| QUAD | Quad/Graphics, Inc. | 5.06% | $21.40M | 2,538,299 | Trimmed |
| LNC | Lincoln National Corp | 5.04% | $21.32M | 603,160 | Added |
| CRGY | Crescent Energy Co | 4.86% | $20.55M | 2,092,679 | Added |
| CNDT | Conduent Inc | 4.48% | $18.96M | 12,986,100 | Added |
| BFH | Bread Financial Holdings, Inc. | 3.40% | $14.39M | 132,798 | Trimmed |
| UPS | United Parcel Service Inc | 2.95% | $12.47M | 116,003 | Trimmed |
| DCH | Dauch Corp | 2.92% | $12.37M | 2,282,090 | Added |
| TDAY | USA Today Co., Inc. | 2.83% | $11.98M | 1,401,080 | Trimmed |
| VTRS | Viatris Inc | 2.75% | $11.64M | 733,164 | Added |
| CTO | CTO Realty Growth, Inc. | 2.74% | $11.61M | 539,900 | Trimmed |
| JELD | JELD-WEN Holding, Inc. | 2.53% | $10.71M | 7,139,095 | Added |
| FOSL | Fossil Group, Inc. | 2.10% | $8.87M | 2,143,445 | Trimmed |
| COTY | Coty Inc. | 2.00% | $8.46M | 3,917,705 | New |
| JXN | Jackson Financial Inc. | 1.94% | $8.21M | 80,142 | Trimmed |
| ITRN | Ituran Location & Control Ltd. | 1.93% | $8.16M | 133,700 | Trimmed |
| CHRD | Chord Energy Corp | 1.87% | $7.90M | 69,096 | Trimmed |
| VZ | Verizon Communications Inc | 1.68% | $7.11M | 168,000 | Unchanged |
| MRP | Millrose Properties, Inc. | 1.63% | $6.89M | 229,300 | Added |
| UPBD | Upbound Group, Inc. | 1.29% | $5.47M | 258,000 | Added |
| OMF | OneMain Holdings, Inc. | 1.20% | $5.06M | 82,941 | Unchanged |
| CALM | Cal-Maine Foods Inc | 1.18% | $4.99M | 62,000 | Unchanged |
| ARLP | Alliance Resource Partners LP | 1.06% | $4.48M | 186,981 | Added |
| MSTR | Strategy Inc | 1.03% | $4.36M | 50,203 | Trimmed |
| UGI | UGI Corp | 0.99% | $4.18M | 121,000 | Unchanged |
| BBW | Build-A-Bear Workshop Inc | 0.97% | $4.09M | 133,567 | Added |
| BMY | Bristol Myers Squibb Co | 0.95% | $4.00M | 69,500 | Unchanged |
| META | Meta Platforms, Inc. | 0.85% | $3.61M | 6,412 | New |
| CROX | Crocs, Inc. | 0.82% | $3.48M | 28,856 | Trimmed |
| WAL | Western Alliance Bancorporation | 0.81% | $3.43M | 41,755 | Trimmed |
| ABR | Arbor Realty Trust Inc | 0.78% | $3.31M | 611,000 | Added |
| CTRN | Citi Trends Inc | 0.74% | $3.13M | 54,200 | Added |
| MELI | MercadoLibre Inc | 0.69% | $2.91M | 1,712 | Trimmed |
| BCC | Boise Cascade Co | 0.68% | $2.87M | 37,000 | Unchanged |
| FIGR | Figure Technology Solutions, Inc. | 0.65% | $2.75M | 89,668 | Trimmed |
| ZD | Ziff Davis, Inc. | 0.63% | $2.65M | 50,602 | Trimmed |
| CART | Maplebear Inc. | 0.51% | $2.16M | 45,645 | Added |
| REZI | Resideo Technologies, Inc. | 0.51% | $2.14M | 68,931 | Trimmed |
| AMP | Ameriprise Financial Inc | 0.48% | $2.03M | 4,428 | New |
| LYB | LyondellBasell Industries N.V. | 0.47% | $2.00M | 38,000 | Unchanged |
| BLDR | Builders FirstSource, Inc. | 0.40% | $1.71M | 19,115 | Added |
| CG | Carlyle Group Inc. | 0.40% | $1.68M | 40,000 | Unchanged |
| FOUR | Shift4 Payments, Inc. | 0.34% | $1.46M | 29,965 | Trimmed |
| PRDO | Perdoceo Education Corp | 0.30% | $1.29M | 40,288 | Trimmed |
| ABNB | Airbnb, Inc. | 0.30% | $1.28M | 8,921 | Trimmed |
| PINS | Pinterest, Inc. | 0.29% | $1.22M | 57,860 | Trimmed |
| CPNG | Coupang, Inc. | 0.26% | $1.11M | 64,124 | Added |
Showing the 50 largest of 56 positions by allocation. The full portfolio, sortable by value, allocation and share count, loads below.
What changed in Q2 2026
| Action | Ticker | Company | Share change | Value |
|---|---|---|---|---|
| Added | NBR | Nabors Industries Ltd | +1,030 | $37.42M |
| Added | GTN | Gray Media, Inc | +1,873,290 | $28.76M |
| New | SPUU | Direxion Daily S&P 500 Bull 2X Shares | +114,078 | $24.60M |
| Added | BLMN | Bloomin' Brands, Inc. | +549,175 | $23.64M |
| Trimmed | QUAD | Quad/Graphics, Inc. | -112,740 | $21.40M |
| Added | LNC | Lincoln National Corp | +32,470 | $21.32M |
| Added | CRGY | Crescent Energy Co | +89,547 | $20.55M |
| Added | CNDT | Conduent Inc | +2,962,170 | $18.96M |
| Trimmed | BFH | Bread Financial Holdings, Inc. | -60,899 | $14.39M |
| Trimmed | UPS | United Parcel Service Inc | -3,105 | $12.47M |
| Added | DCH | Dauch Corp | +886,185 | $12.37M |
| Trimmed | TDAY | USA Today Co., Inc. | -568,200 | $11.98M |
| Added | VTRS | Viatris Inc | +1,488 | $11.64M |
| Trimmed | CTO | CTO Realty Growth, Inc. | -16,153 | $11.61M |
| Added | JELD | JELD-WEN Holding, Inc. | +519,210 | $10.71M |
| Trimmed | FOSL | Fossil Group, Inc. | -281,740 | $8.87M |
| New | COTY | Coty Inc. | +3,917,705 | $8.46M |
| Trimmed | JXN | Jackson Financial Inc. | -538 | $8.21M |
| Trimmed | ITRN | Ituran Location & Control Ltd. | -70,200 | $8.16M |
| Trimmed | CHRD | Chord Energy Corp | -234 | $7.90M |
| Added | MRP | Millrose Properties, Inc. | +48,500 | $6.89M |
| Added | UPBD | Upbound Group, Inc. | +138,000 | $5.47M |
| Added | ARLP | Alliance Resource Partners LP | +1,725 | $4.48M |
| Trimmed | MSTR | Strategy Inc | -1,855 | $4.36M |
| Added | BBW | Build-A-Bear Workshop Inc | +29,833 | $4.09M |
The 25 largest changes by value. The full quarter, filterable by action, loads below.
About these holdings
The 13F on record for Bill Miller (Miller Value Partners, LLC), filed on Aug 14, 2026, reports 56 positions as of Jun 30, 2026. The largest is Nabors Industries Ltd (NBR) at 8.8% of the reported portfolio, followed by Gray Media, Inc (GTN, 6.8%) and Direxion Daily S&P 500 Bull 2X Shares (SPUU, 5.8%). The ten largest make up 52.8% of it. Against the previous quarter, it opened 4 new positions, added to 20, trimmed 22 and sold out of 3. The largest new position is Direxion Daily S&P 500 Bull 2X Shares (SPUU), at 5.8% of the portfolio. The largest position it added to is Nabors Industries Ltd (NBR), now 8.8%. The largest it sold out of, by its value the quarter before, is SPDR S&P 500 ETF Trust (SPY).
Nabors Industries Ltd (NBR), the largest position, is also held by Ken Griffin.
Other investors
Third Avenue ManagementPhilippe LaffontHillman CapitalFirst Pacific AdvisorsRuane CunniffYacktman Asset MgmtFrancois RochonThomas Russo