Miller Value Partners: 13F holdings, Q2 2026
Concentrated value · SEC EDGAR filings (CIK 0001135778) · Explore on the interactive board
Miller Value Partners disclosed 56 US equity positions worth $423.1m in its Q2 2026 13F filing (holdings as of June 30, 2026, filed August 14, 2026). Its largest position is NBR at 8.8% of the reported book, followed by GTN, DIREXION SHARES ETF TRUST. The top ten holdings are 52.8% of the book, and the portfolio behaves like about 26 equal-weight positions. Versus the prior filing it opened 4 new positions, added to 17, reduced 19 and exited 3.
What does Miller Value Partners own? Top holdings as of June 30, 2026
Change is measured in shares against the previous filing (Q1 2026), so price moves do not read as decisions. This quarter: 4 new, 17 added, 19 reduced, 3 exited.
| # | Stock | Sector | Weight | Value | Shares | Δ shares | Action |
|---|---|---|---|---|---|---|---|
| 1 | NBR NABORS INDUSTRIES LTD | Energy | 8.8% | $37.4m | 445,460 | 0% | held |
| 2 | GTN GRAY MEDIA INC | Communication Services | 6.8% | $28.8m | 7,243,390 | 35% | added |
| 3 | DIREXION SHARES ETF TRUST | 5.8% | $24.6m | 114,078 | – | new | |
| 4 | BLMN BLOOMIN BRANDS INC | Consumer Cyclical | 5.6% | $23.6m | 2,585,909 | 27% | added |
| 5 | QUAD QUAD / GRAPHICS INC | Industrials | 5.1% | $21.4m | 2,538,299 | -4% | reduced |
| 6 | LNC LINCOLN NATL CORP IND | Financial Services | 5.0% | $21.3m | 603,160 | 6% | added |
| 7 | CRGY CRESCENT ENERGY COMPANY | 4.9% | $20.6m | 2,092,679 | 4% | added | |
| 8 | CNDT CONDUENT INC | Technology | 4.5% | $19.0m | 12,986,100 | 30% | added |
| 9 | BFH BREAD FINANCIAL HOLDINGS INC | Financial Services | 3.4% | $14.4m | 132,798 | -31% | reduced |
| 10 | UPS UNITED PARCEL SVCS INC | Industrials | 2.9% | $12.5m | 116,003 | -3% | reduced |
| 11 | DCH DAUCH CORP | Consumer Cyclical | 2.9% | $12.4m | 2,282,090 | 63% | added |
| 12 | TDAY USA TODAY CO INC | Communication Services | 2.8% | $12.0m | 1,401,080 | -29% | reduced |
| 13 | VTRS VIATRIS INC | Healthcare | 2.8% | $11.6m | 733,164 | 0% | held |
| 14 | CTO RLTY GROWTH INC NEW | 2.7% | $11.6m | 539,900 | -3% | reduced | |
| 15 | JELD JELD-WEN HLDG INC | Industrials | 2.5% | $10.7m | 7,139,095 | 8% | added |
| 16 | FOSL FOSSIL GROUP INC | Consumer Cyclical | 2.1% | $8.9m | 2,143,445 | -12% | reduced |
| 17 | COTY COTY INC | Consumer Defensive | 2.0% | $8.5m | 3,917,705 | – | new |
| 18 | JXN JACKSON FINANCIAL INC | Financial Services | 1.9% | $8.2m | 80,142 | -1% | reduced |
| 19 | ITRN ITURAN LOCATION AND CONTROL | Technology | 1.9% | $8.2m | 133,700 | -34% | reduced |
| 20 | CHRD CHORD ENERGY CORPORATION | Energy | 1.9% | $7.9m | 69,096 | -0% | held |
| 21 | VZ VERIZON COMMUNICATIONS INC | Communication Services | 1.7% | $7.1m | 168,000 | 0% | held |
| 22 | MRP MILLROSE PPTYS INC | Real Estate | 1.6% | $6.9m | 229,300 | 27% | added |
| 23 | UPBD UPBOUND GROUP INC | Technology | 1.3% | $5.5m | 258,000 | 115% | added |
| 24 | OMF ONEMAIN HLDGS INC | Financial Services | 1.2% | $5.1m | 82,941 | 0% | held |
| 25 | CALM CAL MAINE FOODS INC | Consumer Defensive | 1.2% | $5.0m | 62,000 | 0% | held |
| 26 | ARLP ALLIANCE RESOURCE PARTNERS L | 1.1% | $4.5m | 186,981 | 1% | added | |
| 27 | MSTR STRATEGY INC | Technology | 1.0% | $4.4m | 50,203 | -4% | reduced |
| 28 | UGI UGI CORP NEW | Utilities | 1.0% | $4.2m | 121,000 | 0% | held |
| 29 | BBW BUILD-A-BEAR WORKSHOP INC | Consumer Cyclical | 1.0% | $4.1m | 133,567 | 29% | added |
| 30 | BMY BRISTOL-MYERS SQUIBB CO | Healthcare | 0.9% | $4.0m | 69,500 | 0% | held |
| 31 | META META PLATFORMS INC | Communication Services | 0.9% | $3.6m | 6,412 | – | new |
| 32 | CROX CROCS INC | Consumer Cyclical | 0.8% | $3.5m | 28,856 | -25% | reduced |
| 33 | WAL WESTERN ALLIANCE BANCORP | Financial Services | 0.8% | $3.4m | 41,755 | -24% | reduced |
| 34 | ABR ARBOR REALTY TRUST INC | Real Estate | 0.8% | $3.3m | 611,000 | 1% | added |
| 35 | CTRN CITI TRENDS INC | Consumer Cyclical | 0.7% | $3.1m | 54,200 | 1% | added |
| 36 | MELI MERCADOLIBRE INC | Consumer Cyclical | 0.7% | $2.9m | 1,712 | -23% | reduced |
| 37 | BCC BOISE CASCADE CO DEL | Basic Materials | 0.7% | $2.9m | 37,000 | 0% | held |
| 38 | FIGR FIGURE TECHNOLOGY SOLUTIO | Financial Services | 0.7% | $2.8m | 89,668 | -1% | reduced |
| 39 | ZD ZIFF DAVIS INC | Communication Services | 0.6% | $2.7m | 50,602 | -26% | reduced |
| 40 | CART MAPLEBEAR INC | Consumer Cyclical | 0.5% | $2.2m | 45,645 | 0% | held |
| 41 | REZI RESIDEO TECHNOLOGIES INC | Industrials | 0.5% | $2.1m | 68,931 | -1% | reduced |
| 42 | AMP AMERIPRISE FINL INC | Financial Services | 0.5% | $2.0m | 4,428 | – | new |
| 43 | LYONDELLBASELL INDUSTRIES NV | 0.5% | $2.0m | 38,000 | 0% | held | |
| 44 | BLDR BUILDERS FIRSTSOURCE INC | Industrials | 0.4% | $1.7m | 19,115 | 1% | added |
| 45 | CG CARLYLE GROUP INC | Financial Services | 0.4% | $1.7m | 40,000 | 0% | held |
| 46 | FOUR SHIFT4 PMTS INC | Technology | 0.3% | $1.5m | 29,965 | -0% | held |
| 47 | PRDO PERDOCEO ED CORP | Consumer Defensive | 0.3% | $1.3m | 40,288 | -0% | held |
| 48 | ABNB AIRBNB INC | Consumer Cyclical | 0.3% | $1.3m | 8,921 | -45% | reduced |
| 49 | PINS PINTEREST INC | Communication Services | 0.3% | $1.2m | 57,860 | -4% | reduced |
| 50 | CPNG COUPANG INC | Consumer Cyclical | 0.3% | $1.1m | 64,124 | 3% | added |
What did Miller Value Partners sell? Positions exited since the previous filing
| Stock | Prior weight | Prior value |
|---|---|---|
| SPY STATE STR SPDR S&P 500 ETF T | 92.6% | $19.5m |
| MBC MASTERBRAND INC | 4.1% | $871.3k |
| PTLO PORTILLOS INC | 3.2% | $684.1k |
Sector mix
| Sector | Weight |
|---|---|
| Consumer Cyclical | 15.3% |
| Financial Services | 13.9% |
| Communication Services | 13.1% |
| Industrials | 11.5% |
| Energy | 10.8% |
| Technology | 9.1% |
Sectors cover positions whose ticker resolved to a sector; the remainder is unclassified, not cash.
Filing history
| Quarter | Positions | Equity value |
|---|---|---|
| Q2 2026 | 56 | $423.1m |
| Q1 2026 | 55 | $383.2m |
| Q4 2025 | 34 | $283.8m |
| Q3 2025 | 36 | $272.2m |
| Q2 2025 | 33 | $235.7m |
| Q1 2025 | 34 | $219.4m |
| Q4 2024 | 33 | $234.2m |
| Q3 2024 | 30 | $177.2m |
| Q2 2024 | 29 | $156.6m |
| Q1 2024 | 30 | $156.4m |
| Q4 2023 | 42 | $168.4m |
| Q3 2023 | 46 | $159.1m |
| Q2 2023 | 46 | $152.0m |
| Q1 2023 | 90 | $1.6bn |
| Q4 2022 | 79 | $1.5bn |
| Q3 2022 | 87 | $1.6bn |
Earliest filing: Q4 2007 · 75 quarters on file
How concentrated is Miller Value Partners's portfolio?
Across every quarter Miller Value Partners has filed, its median largest position is 5.9% of the book and its median top-ten weight is 44.2%, which WhaleCreep classifies as concentrated (the gate is a median largest position of 5%). Of 613 completed holding spells, the median lasted 5.0 quarters; 56 positions are still open and their final length is unknown.