Bill Miller - Miller Value Partners 13F Activity & Position Changes (Q1 2026)

According to the SEC 13F filed on May 15, 2026, the Miller Value Partners portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2026. 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 Q1 2026, the filing reported:

New Buys - Airbnb, Inc., Arbor Realty Trust, Builders FirstSource, Inc., Bloomin' Brands, Inc., Maplebear Inc., and 15 more

Increases - Alliance Resource Partners, L.P, Build-A-Bear Workshop, Inc., Chord Energy Corporation, Conduent Incorporated, CTO Realty Growth, Inc., and 8 more

Reductions - American Axle & Manufacturing H, Bread Financial Holdings, Inc., Bristol-Myers Squibb Company, Fossil Group, Inc., TechnipFMC, and 10 more

Complete Exits - Stellantis

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
Q1 2026	ABNB Airbnb, Inc.	Airbnb, Inc.	Buy - Position Entry	+16,134	-	$2.04M	16,134
Q1 2026	ABR Arbor Realty Trust	Arbor Realty Trust	Buy - Position Entry	+604,000	-	$4.66M	604,000
Q1 2026	ARLP Alliance Resource Partners, L.P	Alliance Resource Partners, L.P	Buy	+53,256	+40.3%	$5.12M	185,256
Q1 2026	AXL American Axle & Manufacturing H	American Axle & Manufacturing H	Sell	-338,875	-19.5%	$8.28M	1,395,905
Q1 2026	BBW Build-A-Bear Workshop, Inc.	Build-A-Bear Workshop, Inc.	Buy	+25,734	+33.0%	$3.88M	103,734
Q1 2026	BFH Bread Financial Holdings, Inc.	Bread Financial Holdings, Inc.	Sell	-7,718	-3.8%	$14.51M	193,697
Q1 2026	BLDR Builders FirstSource, Inc.	Builders FirstSource, Inc.	Buy - Position Entry	+18,893	-	$1.56M	18,893
Q1 2026	BLMN Bloomin' Brands, Inc.	Bloomin' Brands, Inc.	Buy - Position Entry	+2,036,734	-	$11.00M	2,036,734
Q1 2026	BMY Bristol-Myers Squibb Company	Bristol-Myers Squibb Company	Sell	-38,500	-35.6%	$4.22M	69,500
Q1 2026	CART Maplebear Inc.	Maplebear Inc.	Buy - Position Entry	+45,557	-	$1.71M	45,557
Q1 2026	CHRD Chord Energy Corporation	Chord Energy Corporation	Buy	+11,564	+20.0%	$9.86M	69,330
Q1 2026	CNDT Conduent Incorporated	Conduent Incorporated	Buy	+4,440,545	+79.5%	$12.83M	10,023,930
Q1 2026	CPNG Coupang, Inc.	Coupang, Inc.	Buy - Position Entry	+62,528	-	$1.18M	62,528
Q1 2026	CRGY Crescent Energy Company	Crescent Energy Company	Buy - Position Entry	+2,003,132	-	$27.04M	2,003,132
Q1 2026	CROX Crocs, Inc.	Crocs, Inc.	Buy - Position Entry	+38,548	-	$3.20M	38,548
Q1 2026	CTO CTO Realty Growth, Inc.	CTO Realty Growth, Inc.	Buy	+121,908	+28.1%	$10.28M	556,053
Q1 2026	CTRN Citi Trends, Inc.	Citi Trends, Inc.	Buy - Position Entry	+53,763	-	$2.33M	53,763
Q1 2026	FOSL Fossil Group, Inc.	Fossil Group, Inc.	Sell	-759,230	-23.8%	$10.45M	2,425,185
Q1 2026	FOUR Shift4 Payments, Inc.	Shift4 Payments, Inc.	Buy - Position Entry	+30,035	-	$1.31M	30,035
Q1 2026	G87110105 TechnipFMC	TechnipFMC	Sell	-4,340	-57.8%	$219.14K	3,170
Q1 2026	GCI Gannett Co., Inc.	Gannett Co., Inc.	Sell	-1,434,065	-42.1%	$13.88M	1,969,280
Q1 2026	GTN Gray Television, Inc.	Gray Television, Inc.	Buy	+1,381,605	+34.6%	$23.31M	5,370,100
Q1 2026	JELD JELD-WEN Holding, Inc.	JELD-WEN Holding, Inc.	Buy	+2,485,675	+60.1%	$8.21M	6,619,885
Q1 2026	JXN Jackson Financial Inc.	Jackson Financial Inc.	Sell	-5,470	-6.3%	$8.53M	80,680
Q1 2026	LAD Lithia Motors, Inc.	Lithia Motors, Inc.	Buy - Position Entry	+2,654	-	$662.76K	2,654
Q1 2026	LNC Lincoln National Corporation	Lincoln National Corporation	Buy	+65,929	+13.1%	$20.26M	570,690
Q1 2026	M6158M104 Ituran	Ituran	Sell	-11,100	-5.2%	$9.99M	203,900
Q1 2026	MBC MasterBrand, Inc.	MasterBrand, Inc.	Buy - Position Entry	+104,854	-	$871.34K	104,854
Q1 2026	MELI MercadoLibre, Inc.	MercadoLibre, Inc.	Buy - Position Entry	+2,215	-	$3.83M	2,215
Q1 2026	MRP Millrose Properties	Millrose Properties	Buy	+98,000	+118.4%	$5.06M	180,800

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