Miller Value Partners, LLC

SARASOTA, FL · CIK 1135778 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 1999 · limited liability company

Assets managed$418.2m
Staff5 · 3 in investment roles
Main clients (by assets)Mutual funds and ETFs 60%, High net worth individuals 32%, Other advisers 5%
Form ADV · 2026-09-15SEC adviser record

Legal entityMILLER VALUE PARTNERS, LLC (US)

$423.1m reported value +10.4% vs Q1 2026

56positions

52.8%in top 10

4 new 20 added 22 reduced 3 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	NABORS INDUSTRIES LTD SHS NBR	NBR	445,460	$37.4m8.85%	8.85%	Added +1.0k	+1,030 0.2%
2	GRAY TELEVISION INC COM GTN	GTN	7,243,390	$28.8m6.80%	6.80%	Added +1.9m	+1,873,290 34.9%
3	DIREXION SHS ETF TR DLY S&P500 2XS SPUU	SPUU	114,078	$24.6m5.81%	5.81%	New
4	BLOOMIN BRANDS INC COM BLMN	BLMN	2,585,909	$23.6m5.59%	5.59%	Added +549.2k	+549,175 27.0%
5	QUAD / GRAPHICS INC COM CL A QUAD	QUAD	2,538,299	$21.4m5.06%	5.06%	Reduced -112.7k	-112,740 -4.2%
6	LINCOLN NATL CORP IND COM LNC	LNC	603,160	$21.3m5.04%	5.04%	Added +32.5k	+32,470 5.7%
7	CRESCENT ENERGY COMPANY CL A COM CRGY	CRGY	2,092,679	$20.6m4.86%	4.86%	Added +89.5k	+89,547 4.5%
8	CONDUENT INC COM CNDT	CNDT	12,986,100	$19.0m4.48%	4.48%	Added +3.0m	+2,962,170 29.6%
9	BREAD FINANCIAL HOLDINGS INC COM BFH	BFH	132,798	$14.4m3.40%	3.40%	Reduced -60.9k	-60,899 -31.4%
10	UNITED PARCEL SERVICE INC CL B UPS	UPS	116,003	$12.5m2.95%	2.95%	Reduced -3.1k	-3,105 -2.6%
11	AMERICAN AXLE & MFG HLDGS IN COM DCH	DCH	2,282,090	$12.4m2.92%	2.92%	Added +886.2k	+886,185 63.5%
12	GANNETT CO INC COM TDAY	TDAY	1,401,080	$12.0m2.83%	2.83%	Reduced -568.2k	-568,200 -28.9%
13	VIATRIS INC COM VTRS	VTRS	733,164	$11.6m2.75%	2.75%	Added +1.5k	+1,488 0.2%
14	CTO RLTY GROWTH INC NEW COM CTO	CTO	539,900	$11.6m2.74%	2.74%	Reduced -16.2k	-16,153 -2.9%
15	JELD-WEN HLDG INC COM JELD	JELD	7,139,095	$10.7m2.53%	2.53%	Added +519.2k	+519,210 7.8%
16	FOSSIL GROUP INC COM FOSL	FOSL	2,143,445	$8.9m2.10%	2.10%	Reduced -281.7k	-281,740 -11.6%
17	COTY INC COM CL A COTY	COTY	3,917,705	$8.5m2.00%	2.00%	New
18	JACKSON FINANCIAL INC COM CL A JXN	JXN	80,142	$8.2m1.94%	1.94%	Reduced -538	-538 -0.7%
19	ITURAN LOCATION AND CONTROL SHS ITRN	ITRN	133,700	$8.2m1.93%	1.93%	Reduced -70.2k	-70,200 -34.4%
20	CHORD ENERGY CORPORATION COM NEW CHRD	CHRD	69,096	$7.9m1.87%	1.87%	Reduced -234	-234 -0.3%
21	VERIZON COMMUNICATIONS INC COM VZ	VZ	168,000	$7.1m1.68%	1.68%	Unchanged
22	MILLROSE PPTYS INC COM CL A MRP	MRP	229,300	$6.9m1.63%	1.63%	Added +48.5k	+48,500 26.8%
23	UPBOUND GROUP INC COM UPBD	UPBD	258,000	$5.5m1.29%	1.29%	Added +138.0k	+138,000 115.0%
24	ONEMAIN HLDGS INC COM OMF	OMF	82,941	$5.1m1.20%	1.20%	Unchanged
25	CAL MAINE FOODS INC COM NEW CALM	CALM	62,000	$5.0m1.18%	1.18%	Unchanged
26	ALLIANCE RESOURCE PARTNERS L UT LTD PART ARLP	ARLP	186,981	$4.5m1.06%	1.06%	Added +1.7k	+1,725 0.9%
27	MICROSTRATEGY INC CL A NEW MSTR	MSTR	50,203	$4.4m1.03%	1.03%	Reduced -1.9k	-1,855 -3.6%
28	UGI CORP NEW COM UGI	UGI	121,000	$4.2m0.99%	0.99%	Unchanged
29	BUILD-A-BEAR WORKSHOP INC COM BBW	BBW	133,567	$4.1m0.97%	0.97%	Added +29.8k	+29,833 28.8%
30	BRISTOL-MYERS SQUIBB CO COM BMY	BMY	69,500	$4.0m0.95%	0.95%	Unchanged
31	META PLATFORMS INC CL A META	META	6,412	$3.6m0.85%	0.85%	New
32	CROCS INC COM CROX	CROX	28,856	$3.5m0.82%	0.82%	Reduced -9.7k	-9,692 -25.1%
33	WESTERN ALLIANCE BANCORP COM WAL	WAL	41,755	$3.4m0.81%	0.81%	Reduced -13.5k	-13,497 -24.4%
34	ARBOR REALTY TRUST INC COM ABR	ABR	611,000	$3.3m0.78%	0.78%	Added +7.0k	+7,000 1.2%
35	CITI TRENDS INC COM CTRN	CTRN	54,200	$3.1m0.74%	0.74%	Added +437	+437 0.8%
36	MERCADOLIBRE INC COM MELI	MELI	1,712	$2.9m0.69%	0.69%	Reduced -503	-503 -22.7%
37	BOISE CASCADE CO DEL COM BCC	BCC	37,000	$2.9m0.68%	0.68%	Unchanged
38	FIGURE TECHNOLOGY SOLUTIO COM CL A FIGR	FIGR	89,668	$2.8m0.65%	0.65%	Reduced -1.3k	-1,341 -1.5%
39	ZIFF DAVIS INC COM ZD	ZD	50,602	$2.7m0.63%	0.63%	Reduced -17.5k	-17,456 -25.6%
40	MAPLEBEAR INC COM CART	CART	45,645	$2.2m0.51%	0.51%	Added +88	+88 0.2%
41	RESIDEO TECHNOLOGIES INC COM REZI	REZI	68,931	$2.1m0.51%	0.51%	Reduced -831	-831 -1.2%
42	AMERIPRISE FINL INC COM AMP	AMP	4,428	$2.0m0.48%	0.48%	New
43	LYONDELLBASELL INDUSTRIES N SHS - A - LYB	LYB	38,000	$2.0m0.47%	0.47%	Unchanged
44	BUILDERS FIRSTSOURCE INC COM BLDR	BLDR	19,115	$1.7m0.40%	0.40%	Added +222	+222 1.2%
45	CARLYLE GROUP INC COM CG	CG	40,000	$1.7m0.40%	0.40%	Unchanged
46	SHIFT4 PMTS INC CL A FOUR	FOUR	29,965	$1.5m0.34%	0.34%	Reduced -70	-70 -0.2%
47	PERDOCEO ED CORP COM PRDO	PRDO	40,288	$1.3m0.30%	0.30%	Reduced -107	-107 -0.3%
48	AIRBNB INC COM CL A ABNB	ABNB	8,921	$1.3m0.30%	0.30%	Reduced -7.2k	-7,213 -44.7%
49	PINTEREST INC CL A PINS	PINS	57,860	$1.2m0.29%	0.29%	Reduced -2.1k	-2,130 -3.5%
50	COUPANG INC CL A CPNG	CPNG	64,124	$1.1m0.26%	0.26%	Added +1.6k	+1,596 2.5%
51	SHARKNINJA INC COM SHS SN	SN	5,932	$903.3k0.21%	0.21%	Added +157	+157 2.7%
52	LITHIA MTRS INC COM LAD	LAD	2,712	$787.8k0.19%	0.19%	Added +58	+58 2.2%
53	VROOM INC COM NEW VRM	VRM	58,488	$450.4k0.11%	0.11%	Unchanged
54	UNITED NAT FOODS INC COM UNFI	UNFI	4,705	$214.9k0.05%	0.05%	Reduced -545	-545 -10.4%
55	TECHNIPFMC PLC COM FTI	FTI	3,170	$210.2k0.05%	0.05%	Unchanged
56	TUTOR PERINI CORP COM TPC	TPC	2,470	$204.9k0.05%	0.05%	Reduced -325	-325 -11.6%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
SPDR S&P 500 ETF TR SPY	SPY	30,044	$19.5m30.0k shares
MASTERBRAND INC MBC	MBC	104,854	$871.3k104.9k shares
PORTILLOS INC PTLO	PTLO	129,323	$684.1k129.3k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
CONDUENT INC CNDT · 13G · filed 2026-08-07	CNDT	8.4%	+1.9 pts	13G	2026-08-07
GRAY TELEVISION INC GTN · 13G · filed 2026-08-07	GTN	8.1%	+2.3 pts	13G	2026-08-07
JELD-WEN HLDG INC JELD · 13G · filed 2026-05-04	JELD	7.7%≈ $9.9m	no change	13G	2026-05-04
QUAD / GRAPHICS INC QUAD · 13G · filed 2026-08-07	QUAD	5.9%		13G	2026-08-07