Miller Value Partners 13F holdings, Q3 2025
Holdings as of September 30, 2025 · filings on SEC EDGAR · latest filing →
Miller Value Partners disclosed 36 US equity positions worth $272.2m in its Q3 2025 13F filing. The largest position was NBR at 10.1% of the reported book, followed by LNC and GTN. Against the Q2 2025 filing, it opened 4 new positions, added to 6 and reduced 16 among the top 36 holdings.
What did Miller Value Partners own in Q3 2025? Top 36 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q2 2025 |
|---|---|---|---|---|---|---|---|
| 1 | NBR NABORS INDUSTRIES LTD | Energy | 10.1% | $27.5m | 673,095 | 8% | added |
| 2 | LNC LINCOLN NATL CORP IND | Financial Services | 7.7% | $21.0m | 520,676 | -9% | reduced |
| 3 | GTN GRAY MEDIA INC | Communication Services | 7.6% | $20.6m | 3,558,215 | -2% | reduced |
| 4 | QUAD QUAD / GRAPHICS INC | Industrials | 6.0% | $16.4m | 2,623,475 | -3% | reduced |
| 5 | BFH BREAD FINANCIAL HOLDINGS INC | Financial Services | 5.5% | $15.1m | 270,010 | -18% | reduced |
| 6 | TDAY GANNETT CO INC | Communication Services | 5.2% | $14.1m | 3,403,265 | 4% | added |
| 7 | CNDT CONDUENT INC | Technology | 4.1% | $11.3m | 4,030,825 | 46% | added |
| 8 | DCH AMERICAN AXLE & MFG HLDGS IN | Consumer Cyclical | 3.8% | $10.3m | 1,717,095 | 19% | added |
| 9 | JELD JELD-WEN HLDG INC | Industrials | 3.7% | $10.2m | 2,068,840 | 10% | added |
| 10 | JXN JACKSON FINANCIAL INC | Financial Services | 3.5% | $9.5m | 93,825 | -25% | reduced |
| 11 | UGI UGI CORP NEW | Utilities | 3.2% | $8.7m | 262,000 | -10% | reduced |
| 12 | VZ VERIZON COMMUNICATIONS INC | Communication Services | 3.2% | $8.7m | 198,000 | 0% | held |
| 13 | FOSL FOSSIL GROUP INC | Consumer Cyclical | 3.1% | $8.5m | 3,326,395 | -4% | reduced |
| 14 | ITRN ITURAN LOCATION AND CONTROL | Technology | 2.8% | $7.7m | 215,000 | – | new |
| 15 | UPS UNITED PARCEL SERVICE INC | Industrials | 2.7% | $7.2m | 86,600 | – | new |
| 16 | CTO RLTY GROWTH INC NEW | 2.6% | $7.0m | 429,145 | 8% | added | |
| 17 | BBW BUILD-A-BEAR WORKSHOP INC | Consumer Cyclical | 2.3% | $6.4m | 98,000 | -7% | reduced |
| 18 | VTRS VIATRIS INC | Healthcare | 2.3% | $6.1m | 619,000 | 0% | held |
| 19 | CALM CAL MAINE FOODS INC | Consumer Defensive | 2.1% | $5.8m | 62,000 | – | new |
| 20 | WAL WESTERN ALLIANCE BANCORP | Financial Services | 2.0% | $5.5m | 63,455 | -24% | reduced |
| 21 | CHRD CHORD ENERGY CORPORATION | Energy | 1.9% | $5.2m | 52,766 | 0% | held |
| 22 | OMF ONEMAIN HLDGS INC | Financial Services | 1.9% | $5.2m | 91,941 | -38% | reduced |
| 23 | MSTR STRATEGY INC | Technology | 1.8% | $4.9m | 15,250 | 0% | held |
| 24 | BMY BRISTOL-MYERS SQUIBB CO | Healthcare | 1.8% | $4.9m | 108,000 | 0% | held |
| 25 | BKE BUCKLE INC | Consumer Cyclical | 1.6% | $4.2m | 72,000 | -31% | reduced |
| 26 | STLA STELLANTIS N.V | Consumer Cyclical | 1.3% | $3.6m | 390,000 | 0% | held |
| 27 | ARLP ALLIANCE RESOURCE PARTNERS L | 1.2% | $3.2m | 127,000 | 0% | held | |
| 28 | BCC BOISE CASCADE CO DEL | Basic Materials | 1.1% | $2.9m | 37,000 | -7% | reduced |
| 29 | UNFI UNITED NAT FOODS INC | Consumer Defensive | 1.0% | $2.8m | 73,445 | -47% | reduced |
| 30 | CG CARLYLE GROUP INC | Financial Services | 0.9% | $2.5m | 40,000 | -43% | reduced |
| 31 | LYONDELLBASELL INDUSTRIES N | 0.7% | $1.9m | 38,000 | 0% | held | |
| 32 | SEMLER SCIENTIFIC INC | 0.6% | $1.6m | 53,000 | 0% | held | |
| 33 | UPBD UPBOUND GROUP INC | Technology | 0.2% | $472.6k | 20,000 | – | new |
| 34 | TTEN TOTALENERGIES SE | 0.2% | $456.6k | 7,650 | 0% | held | |
| 35 | TPC TUTOR PERINI CORP | Industrials | 0.2% | $447.0k | 6,815 | -47% | reduced |
| 36 | FTI TECHNIPFMC PLC | Energy | 0.1% | $296.3k | 7,510 | -7% | reduced |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.