Bill Miller - Miller Value Partners 13F Activity & Position Changes (Q4 2024)

According to the SEC 13F filed on Feb 14, 2025, the Miller Value Partners portfolio showed several notable changes in holdings as of quarter-end Dec 31, 2024. 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 Q4 2024, the filing reported:

New Buys - Atkore Inc., The Carlyle Group Inc., Semler Scientific, Inc.

Increases - Alliance Resource Partners, L.P, American Axle & Manufacturing H, Bread Financial Holdings, Inc., Bristol-Myers Squibb Company, Conduent Incorporated, and 11 more

Reductions - Build-A-Bear Workshop, Inc., Buckle, Inc. (The), MicroStrategy Incorporated

Complete Exits - None reported

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
Q4 2024	ARLP Alliance Resource Partners, L.P	Alliance Resource Partners, L.P	Buy	+10,000	+8.5%	$3.34M	127,000
Q4 2024	ATKR Atkore Inc.	Atkore Inc.	Buy - Position Entry	+37,000	-	$3.09M	37,000
Q4 2024	AXL American Axle & Manufacturing H	American Axle & Manufacturing H	Buy	+295,950	+126.7%	$3.09M	529,590
Q4 2024	BBW Build-A-Bear Workshop, Inc.	Build-A-Bear Workshop, Inc.	Sell	-55,000	-36.7%	$4.37M	95,000
Q4 2024	BFH Bread Financial Holdings, Inc.	Bread Financial Holdings, Inc.	Buy	+45,520	+17.6%	$18.57M	304,050
Q4 2024	BKE Buckle, Inc. (The)	Buckle, Inc. (The)	Sell	-20,000	-16.0%	$5.34M	105,000
Q4 2024	BMY Bristol-Myers Squibb Company	Bristol-Myers Squibb Company	Buy	+28,000	+35.0%	$6.11M	108,000
Q4 2024	CG The Carlyle Group Inc.	The Carlyle Group Inc.	Buy - Position Entry	+70,000	-	$3.53M	70,000
Q4 2024	CNDT Conduent Incorporated	Conduent Incorporated	Buy	+648,325	+72.0%	$6.26M	1,549,260
Q4 2024	FOSL Fossil Group, Inc.	Fossil Group, Inc.	Buy	+1,237,880	+92.9%	$4.29M	2,571,080
Q4 2024	GCI Gannett Co., Inc.	Gannett Co., Inc.	Buy	+1,025,190	+74.8%	$12.13M	2,396,625
Q4 2024	GTN Gray Television, Inc.	Gray Television, Inc.	Buy	+1,926,330	+132.1%	$10.66M	3,384,450
Q4 2024	JXN Jackson Financial Inc.	Jackson Financial Inc.	Buy	+7,035	+5.4%	$11.96M	137,370
Q4 2024	LNC Lincoln National Corporation	Lincoln National Corporation	Buy	+110,470	+28.8%	$15.65M	493,685
Q4 2024	MSTR MicroStrategy Incorporated	MicroStrategy Incorporated	Sell	-35,000	-69.7%	$4.42M	15,250
Q4 2024	NBR Nabors Industries	Nabors Industries	Buy	+140,230	+99.5%	$16.08M	281,195
Q4 2024	QUAD Quad Graphics, Inc	Quad Graphics, Inc	Buy	+634,315	+33.7%	$17.55M	2,518,130
Q4 2024	SMLR Semler Scientific, Inc.	Semler Scientific, Inc.	Buy - Position Entry	+43,000	-	$2.32M	43,000
Q4 2024	TPC Tutor Perini Corporation	Tutor Perini Corporation	Buy	+21,240	+38.8%	$1.84M	76,040
Q4 2024	UGI UGI Corporation	UGI Corporation	Buy	+90,000	+44.6%	$8.24M	292,000
Q4 2024	UNFI United Natural Foods, Inc.	United Natural Foods, Inc.	Buy	+141,385	+52.1%	$11.27M	412,500
Q4 2024	WAL Western Alliance Bancorporation	Western Alliance Bancorporation	Buy	+8,165	+6.1%	$11.79M	141,110