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 |
Verizon
VZ
|
+$8.24M |
| 2 |
JELD-WEN Holding
JELD
|
+$5.76M |
| 3 |
Nabors Industries
NBR
|
+$5.48M |
| 4 |
DEA
Easterly Government Properties
DEA
|
+$4.04M |
| 5 |
LyondellBasell Industries
LYB
|
+$2.86M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AT&T
T
|
+$10.5M |
| 2 |
United Natural Foods
UNFI
|
+$6.48M |
| 3 |
Western Alliance Bancorporation
WAL
|
+$4.84M |
| 4 |
Atkore
ATKR
|
+$3.09M |
| 5 |
Jackson Financial
JXN
|
+$1.46M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 27.82% |
| 2 | Communication Services | 16.21% |
| 3 | Energy | 12.02% |
| 4 | Industrials | 9.46% |
| 5 | Consumer Discretionary | 8.92% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Alliance Resource Partners
ARLP
$3.38B
| $3.46M | 1.58% |
127,000
| – | – |
|
27
Fossil Group
FOSL
$332M
| $3.41M | 1.55% |
2,965,160
+394,080
| +15% | +$618K |
|
|
28
AT&T
T
$173B
| $3.28M | 1.5% |
116,000
-417,000
| -78% | -$10.5M |
|
29
Carlyle Group
CG
$17.6B
| $3.05M | 1.39% |
70,000
| – | – |
|
|
30
LyondellBasell Industries
LYB
$21.8B
| $2.68M | 1.22% |
+38,000
| New | +$2.86M |
|
|
TPC
31
Tutor Perini Cor
TPC
$4.8B
| $2.1M | 0.96% |
90,570
+14,530
| +19% | +$358K |
|
|
SMLR
32
DELISTED
Semler Scientific
SMLR
| $1.92M | 0.87% |
53,000
+10,000
| +23% | +$469K |
|
33
TotalEnergies
TTE
$199B
| $495K | 0.23% |
7,650
| – | – |
|
34
TechnipFMC
FTI
$30.4B
| $259K | 0.12% |
8,185
| – | – |
|
|
35
Atkore
ATKR
$3.16B
| – | – |
-37,000
| Closed | -$3.09M |
|
36
Pitney Bowes
PBI
$2.26B
| – | – |
-24,259
| Closed | -$176K |
|
37
Teva Pharmaceuticals
TEVA
$43.5B
| – | – |
-10,950
| Closed | -$241K |
|
Similar funds
Bill Miller's Q1 2025 Portfolio in Review
As of Q1 2025, Bill Miller held 37 positions worth $219M, down 6.3% from $234M the previous quarter. Its ten largest holdings account for 56% of the portfolio.
Bill Miller deployed $8.51M of net new capital in Q1 2025, opening 4 new positions and adding to 12 existing holdings. Its largest new stake was Verizon: 198,000 shares worth $8.98M.
By sector, the portfolio is most concentrated in Financials at 28% of assets, down from 30% a quarter earlier, followed by Communication Services and Energy.
On the sell side, the largest reduction was AT&T, an estimated $10.5M trimmed.
- Bill Miller's largest Q1 2025 buy was Verizon: 198,000 shares worth $8.98M.
- Bill Miller added most to Nabors Industries in Q1 2025, an estimated $5.48M increase.
- Bill Miller's biggest Q1 2025 reduction was AT&T, cutting an estimated $10.5M.
- Bill Miller fully exited Atkore in Q1 2025, selling an estimated $3.09M.
- Bill Miller's ten largest holdings make up 56% of its $219M portfolio in Q1 2025.
- Bill Miller opened 4 new positions and closed 3 in Q1 2025.
- Bill Miller's portfolio value fell 6.3% quarter-over-quarter to $219M.
Based on Miller Value Partners's 13F filing for Q1 2025, filed 15 May 2025.