Bill Miller Miller Value Partners
Bill Miller is a legendary value-oriented investor best known for a long streak of beating the S&P 500 while managing Legg Mason Value Trust, and later for Miller Value Partners. His process has always been flexible, incorporating both traditional value and growth-at-a-reasonable-price ideas when fundamentals support them. Miller remains a closely followed voice for contrarian equity ideas.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Direxion Daily S&P 500 Bull 2X ETF
SPUU
|
+$23.3M |
| 2 |
Gray Television
GTN
|
+$8.62M |
| 3 |
Coty
COTY
|
+$8.45M |
| 4 |
DCH
Dauch Corp
DCH
|
+$5.39M |
| 5 |
Conduent
CNDT
|
+$4.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$19.5M |
| 2 |
Bread Financial
BFH
|
+$5.47M |
| 3 |
TDAY
USA Today Co
TDAY
|
+$4.29M |
| 4 |
Ituran Location and Control
ITRN
|
+$4.17M |
| 5 |
Fossil Group
FOSL
|
+$1.26M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 16.68% |
| 2 | Consumer Discretionary | 15.3% |
| 3 | Financials | 14.02% |
| 4 | Communication Services | 13.08% |
| 5 | Industrials | 11.5% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Alliance Resource Partners
ARLP
$3.38B
| $4.48M | 1.06% |
186,981
+1,725
| +0.9% | +$43.8K |
|
27
Strategy Inc
MSTR
$47.4B
| $4.36M | 1.03% |
50,203
-1,855
| -4% | -$269K |
|
28
UGI
UGI
$8.06B
| $4.18M | 0.99% |
121,000
| – | – |
|
29
Build-A-Bear
BBW
$488M
| $4.09M | 0.97% |
133,567
+29,833
| +29% | +$1.07M |
|
30
Bristol-Myers Squibb
BMY
$137B
| $4M | 0.95% |
69,500
| – | – |
|
31
Meta Platforms (Facebook)
META
$1.4T
| $3.61M | 0.85% |
+6,412
| New | +$3.92M |
|
32
Crocs
CROX
$5.85B
| $3.48M | 0.82% |
28,856
-9,692
| -25% | -$1.06M |
|
33
Western Alliance Bancorporation
WAL
$8.69B
| $3.43M | 0.81% |
41,755
-13,497
| -24% | -$1.07M |
|
34
Arbor Realty Trust
ABR
$968M
| $3.31M | 0.78% |
611,000
+7,000
| +1% | +$45.5K |
|
35
Citi Trends
CTRN
$597M
| $3.13M | 0.74% |
54,200
+437
| +0.8% | +$20.9K |
|
36
Mercado Libre
MELI
$97.5B
| $2.91M | 0.69% |
1,712
-503
| -23% | -$859K |
|
37
Boise Cascade
BCC
$2.88B
| $2.87M | 0.68% |
37,000
| – | – |
|
|
FIGR
38
Figure Technology Solutions
FIGR
$8.77B
| $2.75M | 0.65% |
89,668
-1,341
| -1% | -$44.8K |
|
39
Ziff Davis
ZD
$1.92B
| $2.65M | 0.63% |
50,602
-17,456
| -26% | -$790K |
|
40
Maplebear
CART
$11.5B
| $2.16M | 0.51% |
45,645
+88
| +0.2% | +$3.68K |
|
41
Resideo Technologies
REZI
$3.08B
| $2.14M | 0.51% |
68,931
-831
| -1% | -$28.6K |
|
42
Ameriprise Financial
AMP
$49.1B
| $2.03M | 0.48% |
+4,428
| New | +$2.03M |
|
43
LyondellBasell Industries
LYB
$21.8B
| $2M | 0.47% |
38,000
| – | – |
|
44
Builders FirstSource
BLDR
$7.55B
| $1.71M | 0.4% |
19,115
+222
| +1% | +$17.7K |
|
45
Carlyle Group
CG
$17.6B
| $1.68M | 0.4% |
40,000
| – | – |
|
46
Shift4
FOUR
$3.78B
| $1.46M | 0.34% |
29,965
-70
| -0.2% | -$3.03K |
|
47
Perdoceo Education
PRDO
$2.07B
| $1.29M | 0.3% |
40,288
-107
| -0.3% | -$3.67K |
|
48
Airbnb
ABNB
$110B
| $1.28M | 0.3% |
8,921
-7,213
| -45% | -$984K |
|
49
Pinterest
PINS
$13.3B
| $1.22M | 0.29% |
57,860
-2,130
| -4% | -$42.8K |
|
50
Coupang
CPNG
$29.6B
| $1.11M | 0.26% |
64,124
+1,596
| +3% | +$28.8K |
|
Similar funds
Bill Miller's Q2 2026 Portfolio in Review
As of Q2 2026, Bill Miller held 59 positions worth $423M, up 10% from $383M the previous quarter. Its ten largest holdings account for 53% of the portfolio.
Bill Miller deployed $25.6M of net new capital in Q2 2026, opening 4 new positions and adding to 20 existing holdings. Its largest new stake was Direxion Daily S&P 500 Bull 2X ETF: 114,078 shares worth $24.6M.
By sector, the portfolio is most concentrated in Energy at 17% of assets, down from 21% a quarter earlier, followed by Consumer Discretionary and Financials.
On the sell side, the largest reduction was Bread Financial, an estimated $5.47M trimmed.
- Bill Miller's largest Q2 2026 buy was Direxion Daily S&P 500 Bull 2X ETF: 114,078 shares worth $24.6M.
- Bill Miller added most to Gray Television in Q2 2026, an estimated $8.62M increase.
- Bill Miller's biggest Q2 2026 reduction was Bread Financial, cutting an estimated $5.47M.
- Bill Miller fully exited State Street SPDR S&P 500 ETF Trust in Q2 2026, selling an estimated $19.5M.
- Bill Miller's ten largest holdings make up 53% of its $423M portfolio in Q2 2026.
- Bill Miller opened 4 new positions and closed 3 in Q2 2026.
- Bill Miller's portfolio value rose 10% quarter-over-quarter to $423M.
Based on Miller Value Partners's 13F filing for Q2 2026, filed 14 Aug 2026.