Bill Miller – Miller Value Partners Portfolio Activity & Recent Trades (Sep 30, 2025)
As of Sep 30, 2025, the Miller Value Partners portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Nov 14, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.
During Q3 2025, the filing reported:
Increases – American Axle & Manufacturing H, Conduent Incorporated, CTO Realty Growth, Inc., Gannett Co., Inc., JELD-WEN Holding, Inc., and 1 more
Reductions – Build-A-Bear Workshop, Inc., Boise Cascade, L.L.C., Bread Financial Holdings, Inc., Buckle, Inc. (The), The Carlyle Group Inc., and 11 more
Complete Exits – Easterly Government
These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.
| Date | Symbol | Name | Type | Change Qty | % Change | Value | Remaining |
|---|---|---|---|---|---|---|---|
Q3 2025 | 27616P301 Easterly Government | Easterly Government | Sell - Position Exit | -146,800 | -100.0% | $0.00 | - |
Q3 2025 | AXL American Axle & Manufacturing H | American Axle & Manufacturing H | Buy | +277,175 | +19.2% | $10.32M | 1,717,095 |
Q3 2025 | BBW Build-A-Bear Workshop, Inc. | Build-A-Bear Workshop, Inc. | Sell | -7,000 | -6.7% | $6.39M | 98,000 |
Q3 2025 | BCC Boise Cascade, L.L.C. | Boise Cascade, L.L.C. | Sell | -3,000 | -7.5% | $2.86M | 37,000 |
Q3 2025 | BFH Bread Financial Holdings, Inc. | Bread Financial Holdings, Inc. | Sell | -57,375 | -17.5% | $15.06M | 270,010 |
Q3 2025 | BKE Buckle, Inc. (The) | Buckle, Inc. (The) | Sell | -33,000 | -31.4% | $4.22M | 72,000 |
Q3 2025 | CALM Cal-Maine Foods, Inc. | Cal-Maine Foods, Inc. | Buy - Position Entry | +62,000 | - | $5.83M | 62,000 |
Q3 2025 | CG The Carlyle Group Inc. | The Carlyle Group Inc. | Sell | -30,000 | -42.9% | $2.51M | 40,000 |
Q3 2025 | CNDT Conduent Incorporated | Conduent Incorporated | Buy | +1,275,600 | +46.3% | $11.29M | 4,030,825 |
Q3 2025 | CTO CTO Realty Growth, Inc. | CTO Realty Growth, Inc. | Buy | +30,000 | +7.5% | $7.00M | 429,145 |
Q3 2025 | FOSL Fossil Group, Inc. | Fossil Group, Inc. | Sell | -143,332 | -4.1% | $8.55M | 3,326,395 |
Q3 2025 | G87110105 TechnipFMC | TechnipFMC | Sell | -605 | -7.5% | $296.27K | 7,510 |
Q3 2025 | GCI Gannett Co., Inc. | Gannett Co., Inc. | Buy | +118,755 | +3.6% | $14.06M | 3,403,265 |
Q3 2025 | GTN Gray Television, Inc. | Gray Television, Inc. | Sell | -89,590 | -2.5% | $20.57M | 3,558,215 |
Q3 2025 | JELD JELD-WEN Holding, Inc. | JELD-WEN Holding, Inc. | Buy | +194,420 | +10.4% | $10.16M | 2,068,840 |
Q3 2025 | JXN Jackson Financial Inc. | Jackson Financial Inc. | Sell | -31,170 | -24.9% | $9.50M | 93,825 |
Q3 2025 | LNC Lincoln National Corporation | Lincoln National Corporation | Sell | -48,804 | -8.6% | $21.00M | 520,676 |
Q3 2025 | M6158M104 Ituran | Ituran | Buy - Position Entry | +215,000 | - | $7.68M | 215,000 |
Q3 2025 | NBR Nabors Industries | Nabors Industries | Buy | +48,995 | +7.9% | $27.51M | 673,095 |
Q3 2025 | OMF OneMain Holdings, Inc. | OneMain Holdings, Inc. | Sell | -57,059 | -38.3% | $5.19M | 91,941 |
Q3 2025 | QUAD Quad Graphics, Inc | Quad Graphics, Inc | Sell | -86,905 | -3.2% | $16.42M | 2,623,475 |
Q3 2025 | TPC Tutor Perini Corporation | Tutor Perini Corporation | Sell | -6,095 | -47.2% | $447.00K | 6,815 |
Q3 2025 | UGI UGI Corporation | UGI Corporation | Sell | -30,000 | -10.3% | $8.71M | 262,000 |
Q3 2025 | UNFI United Natural Foods, Inc. | United Natural Foods, Inc. | Sell | -63,960 | -46.5% | $2.76M | 73,445 |
Q3 2025 | UPBD Upbound Group, Inc. | Upbound Group, Inc. | Buy - Position Entry | +20,000 | - | $472.60K | 20,000 |
Q3 2025 | UPS United Parcel Service, Inc. | United Parcel Service, Inc. | Buy - Position Entry | +86,600 | - | $7.23M | 86,600 |
Q3 2025 | WAL Western Alliance Bancorporation | Western Alliance Bancorporation | Sell | -20,000 | -24.0% | $5.50M | 63,455 |
Q2 2025 | 27616P301 Easterly Government | Easterly Government | Buy - Position Entry | +146,800 | - | $3.26M | 146,800 |
Q2 2025 | AXL American Axle & Manufacturing H | American Axle & Manufacturing H | Buy | +444,230 | +44.6% | $5.87M | 1,439,920 |
Q2 2025 | BBW Build-A-Bear Workshop, Inc. | Build-A-Bear Workshop, Inc. | Buy | +5,000 | +5.0% | $5.41M | 105,000 |