Bill Miller recent buys & sells (2025 Q4)
Miller Value Partners
Miller Value Partners Portfolio Changes
Purchase & sale details
- Portfolio value:
- $283.83M (+$12M)
- Previous value:
- $272.16M
- # of changes:
- 25
- New positions:
- 1
- Reported for:
- 31 Dec 2025 (Q4)
- Latest filing date:
- 17 Feb 2026
Miller Value Partners has disclosed a total of 25 changes to the portfolio in the (2025 Q4) SEC report(s): increased the number of shares of 13, bought 1 totally new, decreased the number of shares of 8 and completely sold out 3 position(s).
What stocks did Bill Miller buy in 2025 Q4?
During 2025 Q4 Bill Miller has bought 14 securities out of which top 5 purchases (by % change to portfolio) were (GTN) Gray Television Inc (added shares +12.09%), (TDAY) USA TODAY Co, Inc (reduced shares 0.00%), (QUAD) Quad Graphics Inc (added shares +4.36%), (DCH) Dauch Corp (added shares +1.03%) and (CNDT) Conduent Inc (added shares +38.52%).
In the 2025 Q4 report(s) the following changes have been made to the top investments: (NBR) NABORS INDUSTRIES LTD (reduced shares -10.45%), (LNC) Lincoln National Corp (reduced shares -3.06%), (GTN) Gray Television Inc (added shares +12.09%), (TDAY) USA TODAY Co, Inc (reduced shares 0.00%) and (QUAD) Quad Graphics Inc (added shares +4.36%).
25 results
| History | Ticker | Name |
% or activity |
Shares change |
Shares held after* |
% change to portfolio |
Reported price* |
% difference current price* |
% of portfolio |
Held since* | Held for* |
|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
Millrose Properties, Inc
|
new
|
+82,800
|
82,800
|
+0.87%
|
$29.87
|
-20.39%($23.78)
|
0.87%
|
2025 Q4
|
~0.25 years
|
|
|
|
Upbound Group Inc
|
+250.00%
|
+50,000
|
70,000
|
+0.31%
|
$17.56
|
-3.64%($16.92)
|
0.43%
|
2025 Q3
|
~0.50 years
|
|
|
|
Jeld-Wen Holding Inc
|
+99.83%
|
+2,065,370
|
4,134,210
|
+1.79%
|
$2.46
|
-43.50%($1.39)
|
3.58%
|
2025 Q1
|
~1.00 year
|
|
|
|
MicroStrategy Incorporated
|
+65.57%
|
+10,000
|
25,250
|
+0.54%
|
$151.95
|
-0.84%($150.67)
|
1.35%
|
2024 Q3
|
~1.50 years
|
|
|
|
Conduent Inc
|
+38.52%
|
+1,552,560
|
5,583,385
|
+1.05%
|
$1.92
|
-14.32%($1.64)
|
3.78%
|
2021 Q1
|
~5.00 years
|
|
|
|
Gray Television Inc
|
+12.09%
|
+430,280
|
3,988,495
|
+0.73%
|
$4.84
|
-4.24%($4.64)
|
6.80%
|
2023 Q2
|
~2.75 years
|
|
|
|
STELLANTIS NV
|
+10.00%
|
+39,000
|
429,000
|
+0.15%
|
$10.89
|
-63.04%($4.02)
|
1.65%
|
2023 Q2
|
~2.75 years
|
|
|
|
Chord Energy Corp
|
+9.48%
|
+5,000
|
57,766
|
+0.16%
|
$92.70
|
+70.39%($157.95)
|
1.89%
|
2024 Q1
|
~2.00 years
|
|
|
|
Quad Graphics Inc
|
+4.36%
|
+114,415
|
2,737,890
|
+0.25%
|
$6.27
|
+51.44%($9.50)
|
6.05%
|
2019 Q1
|
~7.00 years
|
|
|
|
Alliance Resource Partners LP
|
+3.94%
|
+5,000
|
132,000
|
+0.04%
|
$23.23
|
+12.48%($26.13)
|
1.08%
|
2020 Q4
|
~5.25 years
|
|
* Shares, change to shares, sold shares, shares held after: split-adjusted.
* Reported price: this doesn't represent the actual buy or sell price. It is the split-adjusted price of the security as of the last day of the reported period.
* Current price: this can be a delayed price and may not reflect the real-time market value, however it is too close.
* Value or Price: If the security is completely sold out, we show the reported value (or price) prior to the actual period.
* Held since / Held for: calculated since the latest "new buy" position. If the security was previously exited and re-entered, only the most recent holding period is counted. 2013 Q2 is the earliest period we have data for, so "2013 Q2*" means "2013 Q2 or earlier".