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 | |
|---|---|---|---|---|---|---|
51
SharkNinja
SN
$25.5B
| $903K | 0.21% |
5,932
+157
| +3% | +$18.8K |
|
52
Lithia Motors
LAD
$8.15B
| $788K | 0.19% |
2,712
+58
| +2% | +$16.5K |
|
53
Vroom Inc
VRM
$53.8M
| $450K | 0.11% |
58,488
| – | – |
|
54
United Natural Foods
UNFI
$2.91B
| $215K | 0.05% |
4,705
-545
| -10% | -$27K |
|
55
TechnipFMC
FTI
$30.4B
| $210K | 0.05% |
3,170
| – | – |
|
|
TPC
56
Tutor Perini Cor
TPC
$4.8B
| $205K | 0.05% |
2,470
-325
| -12% | -$26.1K |
|
57
MasterBrand
MBC
$1.85B
| – | – |
-104,854
| Closed | -$871K |
|
58
Portillo's
PTLO
$360M
| – | – |
-129,323
| Closed | -$684K |
|
|
59
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| – | – |
-30,044
| Closed | -$19.5M |
|
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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.