Miller Value Partners 13F, Q1 2026
Bill Miller · quarter ending 31 March 2026 · filed 15 May 2026 · SEC CIK 1135778
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q1 2026
The 25 largest of 55 positions. Weights are against the whole filed book. Changes are in shares held, against the Q4 2025 filing.
| Company | Ticker | Value | % of book | vs Q4 2025 |
|---|---|---|---|---|
| NABORS INDUSTRIES LTD | $38.25M | 10.0% | -26% shares | |
| CRESCENT ENERGY COMPANY | CRGY | $27.04M | 7.1% | new |
| GRAY MEDIA INC | GTN | $23.31M | 6.1% | +35% shares |
| LINCOLN NATL CORP IND | LNC | $20.26M | 5.3% | +13% shares |
| STATE STR SPDR S&P 500 ETF T | SPY | $19.54M | 5.1% | new |
| QUAD / GRAPHICS INC | QUAD | $17.52M | 4.6% | -3% shares |
| BREAD FINANCIAL HOLDINGS INC | BFH | $14.51M | 3.8% | -4% shares |
| USA TODAY CO INC | TDAY | $13.88M | 3.6% | -42% shares |
| CONDUENT INC | CNDT | $12.83M | 3.4% | +80% shares |
| UNITED PARCEL SVCS INC | UPS | $11.72M | 3.1% | +38% shares |
| BLOOMIN BRANDS INC | BLMN | $11.00M | 2.9% | new |
| FOSSIL GROUP INC | FOSL | $10.45M | 2.7% | -24% shares |
| CTO RLTY GROWTH INC NEW | CTO | $10.28M | 2.7% | +28% shares |
| ITURAN LOCATION AND CONTROL | $9.99M | 2.6% | -5% shares | |
| VIATRIS INC | VTRS | $9.88M | 2.6% | +18% shares |
| CHORD ENERGY CORPORATION | CHRD | $9.86M | 2.6% | +20% shares |
| JACKSON FINANCIAL INC | JXN | $8.53M | 2.2% | -6% shares |
| VERIZON COMMUNICATIONS INC | VZ | $8.43M | 2.2% | -15% shares |
| DAUCH CORP | DCH | $8.28M | 2.2% | -20% shares |
| JELD-WEN HLDG INC | JELD | $8.21M | 2.1% | +60% shares |
| STRATEGY INC | MSTR | $6.50M | 1.7% | +106% shares |
| ALLIANCE RESOURCE PARTNERS L | ARLP | $5.12M | 1.3% | +40% shares |
| MILLROSE PPTYS INC | MRP | $5.06M | 1.3% | +118% shares |
| CAL MAINE FOODS INC | CALM | $4.91M | 1.3% | unchanged |
| ARBOR REALTY TRUST INC | ABR | $4.66M | 1.2% | new |
What changed since Q4 2025
Against the Q4 2025 filing, Miller Value Partners opened 22 new positions, added to 13, trimmed 15, left 5 unchanged and exited 1. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
Other quarters
Source: SEC Form 13F-HR, accession 0001135778-26-000011, filed by MILLER VALUE PARTNERS, LLC. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.