Q2 2026 · SEC CIK 0001135778

Bill Miller portfolio

SuperinvestorMutual fund managerMiller Value Partners, LLC filed on 2026-08-14. Open SEC filings ↗

Reported 13F value: $423.1M
Reported positions: 56
Eligible equities: 48
Holdings vs S&P 500, 3 years: -2.0 pts

Average holding period of the top positions: 2.5 yrs. Holdings vs the S&P 500 over 1 and 5 years: +9.0 pts, -4.4 pts.

In its Q2 2026 13F, filed 2026-08-14, Miller Value Partners, LLC reported 56 positions worth $423.1M. Its largest holdings were NABORS INDUSTRIES LTD (NBR, 8.8%), BLOOMIN BRANDS INC (BLMN, 5.6%), QUAD / GRAPHICS INC (QUAD, 5.1%). Over the last 3 years its top holdings ran 2.0 points a year behind the S&P 500.

Reported holdings in the Q2 2026 13F.

The portfolio weight uses the full reported share-portfolio denominator. Weight changes compare this 13F with the one before it; price moves also change weights, so these are not trade labels. “New” means the position was not in the previous 13F at all; “—” marks a small position the earlier filing data does not cover.

Bill Miller eligible holdings
Stock	% of reported portfolio	Prior quarter	Weight change	Reported shares	Reported value
NBRNABORS INDUSTRIES LTD	8.8%	10.0%	-1.14 pp	445,460	$37.4M
BLMNBLOOMIN BRANDS INC	5.6%	2.9%	+2.72 pp	2,585,909	$23.6M
QUADQUAD / GRAPHICS INC	5.1%	4.6%	+0.48 pp	2,538,299	$21.4M
LNCLINCOLN NATL CORP IND	5.0%	5.3%	-0.25 pp	603,160	$21.3M
CRGYCRESCENT ENERGY COMPANY	4.9%	7.1%	-2.20 pp	2,092,679	$20.6M
BFHBREAD FINANCIAL HOLDINGS INC	3.4%	3.8%	-0.39 pp	132,798	$14.4M
UPSUNITED PARCEL SVCS INC	2.9%	3.1%	-0.11 pp	116,003	$12.5M
VTRSVIATRIS INC	2.8%	2.6%	+0.17 pp	733,164	$11.6M
CTOCTO RLTY GROWTH INC NEW	2.7%	2.7%	+0.06 pp	539,900	$11.6M
FOSLFOSSIL GROUP INC	2.1%	2.7%	-0.63 pp	2,143,445	$8.9M
JXNJACKSON FINANCIAL INC	1.9%	2.2%	-0.29 pp	80,142	$8.2M
ITRNITURAN LOCATION AND CONTROL	1.9%	2.6%	-0.68 pp	133,700	$8.2M
CHRDCHORD ENERGY CORPORATION	1.9%	2.6%	-0.71 pp	69,096	$7.9M
VZVERIZON COMMUNICATIONS INC	1.7%	2.2%	-0.52 pp	168,000	$7.1M
MRPMILLROSE PPTYS INC	1.6%	1.3%	+0.31 pp	229,300	$6.9M
UPBDUPBOUND GROUP INC	1.3%	0.6%	+0.73 pp	258,000	$5.5M
OMFONEMAIN HLDGS INC	1.2%	1.2%	+0.04 pp	82,941	$5.1M
CALMCAL MAINE FOODS INC	1.2%	1.3%	-0.10 pp	62,000	$5.0M
MSTRSTRATEGY INC	1.0%	1.7%	-0.66 pp	50,203	$4.4M
UGIUGI CORP NEW	1.0%	1.1%	-0.16 pp	121,000	$4.2M
BBWBUILD-A-BEAR WORKSHOP INC	1.0%	1.0%	-0.05 pp	133,567	$4.1M
BMYBRISTOL-MYERS SQUIBB CO	0.9%	1.1%	-0.15 pp	69,500	$4.0M
METAMETA PLATFORMS INC	0.9%	—	—	6,412	$3.6M
CROXCROCS INC	0.8%	0.8%	-0.01 pp	28,856	$3.5M
WALWESTERN ALLIANCE BANCORP	0.8%	1.0%	-0.21 pp	41,755	$3.4M
ABRARBOR REALTY TRUST INC	0.8%	1.2%	-0.43 pp	611,000	$3.3M
CTRNCITI TRENDS INC	0.7%	0.6%	+0.13 pp	54,200	$3.1M
MELIMERCADOLIBRE INC	0.7%	1.0%	-0.31 pp	1,712	$2.9M
BCCBOISE CASCADE CO DEL	0.7%	0.7%	-0.05 pp	37,000	$2.9M
FIGRFIGURE TECHNOLOGY SOLUTIO	0.7%	0.8%	-0.16 pp	89,668	$2.8M
ZDZIFF DAVIS INC	0.6%	0.7%	-0.12 pp	50,602	$2.7M
CARTMAPLEBEAR INC	0.5%	0.4%	+0.07 pp	45,645	$2.2M
REZIRESIDEO TECHNOLOGIES INC	0.5%	0.6%	-0.11 pp	68,931	$2.1M
AMPAMERIPRISE FINL INC	0.5%	—	—	4,428	$2.0M
LYBLYONDELLBASELL INDUSTRIES NV	0.5%	0.8%	-0.33 pp	38,000	$2.0M
BLDRBUILDERS FIRSTSOURCE INC	0.4%	0.4%	-0.00 pp	19,115	$1.7M
CGCARLYLE GROUP INC	0.4%	0.5%	-0.11 pp	40,000	$1.7M
FOURSHIFT4 PMTS INC	0.3%	0.3%	+0.00 pp	29,965	$1.5M
PRDOPERDOCEO ED CORP	0.3%	0.4%	-0.09 pp	40,288	$1.3M
ABNBAIRBNB INC	0.3%	0.5%	-0.23 pp	8,921	$1.3M
PINSPINTEREST INC	0.3%	0.3%	+0.00 pp	57,860	$1.2M
CPNGCOUPANG INC	0.3%	0.3%	-0.04 pp	64,124	$1.1M
SNSHARKNINJA INC	0.2%	0.2%	+0.05 pp	5,932	$903K
LADLITHIA MTRS INC	0.2%	0.2%	+0.01 pp	2,712	$788K
VRMVROOM INC	0.1%	0.2%	-0.10 pp	58,488	$450K
UNFIUNITED NAT FOODS INC	0.1%	0.1%	-0.01 pp	4,705	$215K
FTITECHNIPFMC PLC	0.1%	0.1%	-0.01 pp	3,170	$210K
TPCTUTOR PERINI CORP	0.0%	0.1%	-0.01 pp	2,470	$205K

What Bill Miller bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +28.6% /yr; S&P 500 +20.1%
3 years: +16.3% /yr; S&P 500 +20.4%
5 years: +5.4% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Questions about Bill Miller's portfolio

What stocks does Bill Miller own?

Miller Value Partners, LLC's latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 56 positions worth $423.1M. The largest are Nabors Industries Ltd (NBR) at 8.8%, Gray Media Inc (GTN) at 6.8%, Direxion Shares ETF Trust (SPUU) at 5.8%, Bloomin Brands Inc (BLMN) at 5.6% and Quad / Graphics Inc (QUAD) at 5.1%.

What did Bill Miller buy last quarter?

In Q2 2026, Miller Value Partners, LLC added Upbound Group Inc (RCII) (+115.0% shares), Dauch Corp (DCH) (+63.5% shares) and Gray Media Inc (GTN) (+34.9% shares), compared with its Q1 2026 filing.

What did Bill Miller sell last quarter?

In Q2 2026, Miller Value Partners, LLC cut from its top 50 State Str Spdr S&p 500 ETF T (SPY), cut from its top 50 Masterbrand Inc Common Stock (MBC), cut from its top 50 Vroom Inc (VRM), cut from its top 50 Portillos Inc (PTLO), Airbnb Inc (ABNB) (-44.7% shares), Ituran Location and Control (ITRN) (-34.4% shares) and Bread Financial Holdings Inc (ADS) (-31.4% shares), compared with its Q1 2026 filing.

How has Bill Miller's portfolio performed?

A portfolio copying Miller Value Partners, LLC's 20 largest 13F holdings each quarter, from the day each filing was public, returned +16.3% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +28.6% against +20.1%. Over 5 years: +5.4% a year against +11.6%.

When is Miller Value Partners, LLC's next 13F filing due?

13F filings are due 45 days after each quarter ends. Miller Value Partners, LLC's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Miller Value Partners, LLC manage?

Miller Value Partners, LLC reported $418.2M of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $423.1M.