Bill Miller - Miller Value Partners 13F Activity & Position Changes (Q2 2026)

According to the SEC 13F filed on Aug 14, 2026, the Miller Value Partners portfolio showed several notable changes in holdings as of quarter-end Jun 30, 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 Q2 2026, the filing reported:

New Buys - Ameriprise Financial, Inc., Coty Inc., Meta Platforms, Inc., Direxion Daily S&P 500 Bull 2X

Increases - Arbor Realty Trust, Alliance Resource Partners, L.P, American Axle & Manufacturing H, Build-A-Bear Workshop, Inc., Builders FirstSource, Inc., and 15 more

Reductions - Airbnb, Inc., Bread Financial Holdings, Inc., Chord Energy Corporation, Crocs, Inc., CTO Realty Growth, Inc., and 16 more

Complete Exits - MasterBrand, Inc., Portillo's Inc., SPDR S&P 500

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
Q2 2026	ABNB Airbnb, Inc.	Airbnb, Inc.	Sell	-7,213	-44.7%	$1.28M	8,921
Q2 2026	ABR Arbor Realty Trust	Arbor Realty Trust	Buy	+7,000	+1.2%	$3.31M	611,000
Q2 2026	AMP Ameriprise Financial, Inc.	Ameriprise Financial, Inc.	Buy - Position Entry	+4,428	-	$2.03M	4,428
Q2 2026	ARLP Alliance Resource Partners, L.P	Alliance Resource Partners, L.P	Buy	+1,725	+0.9%	$4.48M	186,981
Q2 2026	AXL American Axle & Manufacturing H	American Axle & Manufacturing H	Buy	+886,185	+63.5%	$12.37M	2,282,090
Q2 2026	BBW Build-A-Bear Workshop, Inc.	Build-A-Bear Workshop, Inc.	Buy	+29,833	+28.8%	$4.09M	133,567
Q2 2026	BFH Bread Financial Holdings, Inc.	Bread Financial Holdings, Inc.	Sell	-60,899	-31.4%	$14.39M	132,798
Q2 2026	BLDR Builders FirstSource, Inc.	Builders FirstSource, Inc.	Buy	+222	+1.2%	$1.71M	19,115
Q2 2026	BLMN Bloomin' Brands, Inc.	Bloomin' Brands, Inc.	Buy	+549,175	+27.0%	$23.64M	2,585,909
Q2 2026	CART Maplebear Inc.	Maplebear Inc.	Buy	+88	+0.2%	$2.16M	45,645
Q2 2026	CHRD Chord Energy Corporation	Chord Energy Corporation	Sell	-234	-0.3%	$7.90M	69,096
Q2 2026	CNDT Conduent Incorporated	Conduent Incorporated	Buy	+2,962,170	+29.6%	$18.96M	12,986,100
Q2 2026	COTY Coty Inc.	Coty Inc.	Buy - Position Entry	+3,917,705	-	$8.46M	3,917,705
Q2 2026	CPNG Coupang, Inc.	Coupang, Inc.	Buy	+1,596	+2.6%	$1.11M	64,124
Q2 2026	CRGY Crescent Energy Company	Crescent Energy Company	Buy	+89,547	+4.5%	$20.55M	2,092,679
Q2 2026	CROX Crocs, Inc.	Crocs, Inc.	Sell	-9,692	-25.1%	$3.48M	28,856
Q2 2026	CTO CTO Realty Growth, Inc.	CTO Realty Growth, Inc.	Sell	-16,153	-2.9%	$11.61M	539,900
Q2 2026	CTRN Citi Trends, Inc.	Citi Trends, Inc.	Buy	+437	+0.8%	$3.13M	54,200
Q2 2026	FOSL Fossil Group, Inc.	Fossil Group, Inc.	Sell	-281,740	-11.6%	$8.87M	2,143,445
Q2 2026	FOUR Shift4 Payments, Inc.	Shift4 Payments, Inc.	Sell	-70	-0.2%	$1.46M	29,965
Q2 2026	GCI Gannett Co., Inc.	Gannett Co., Inc.	Sell	-568,200	-28.9%	$11.98M	1,401,080
Q2 2026	GTN Gray Television, Inc.	Gray Television, Inc.	Buy	+1,873,290	+34.9%	$28.76M	7,243,390
Q2 2026	JELD JELD-WEN Holding, Inc.	JELD-WEN Holding, Inc.	Buy	+519,210	+7.8%	$10.71M	7,139,095
Q2 2026	JXN Jackson Financial Inc.	Jackson Financial Inc.	Sell	-538	-0.7%	$8.21M	80,142
Q2 2026	LAD Lithia Motors, Inc.	Lithia Motors, Inc.	Buy	+58	+2.2%	$787.81K	2,712
Q2 2026	LNC Lincoln National Corporation	Lincoln National Corporation	Buy	+32,470	+5.7%	$21.32M	603,160
Q2 2026	M6158M104 Ituran	Ituran	Sell	-70,200	-34.4%	$8.16M	133,700
Q2 2026	MBC MasterBrand, Inc.	MasterBrand, Inc.	Sell - Position Exit	-104,854	-100.0%	$0.00	-
Q2 2026	MELI MercadoLibre, Inc.	MercadoLibre, Inc.	Sell	-503	-22.7%	$2.91M	1,712
Q2 2026	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy - Position Entry	+6,412	-	$3.61M	6,412

Page 1 of 2