Bill Miller Q1 2026 Portfolio Update: Strategic Shifts in Energy and Financial Services

Bill Miller, through his investment firm Miller Value Partners, has made notable adjustments to his portfolio as of March 31, 2026. The disclosed portfolio value stands at $379,310,289, with the top ten holdings representing approximately 48.93% of the total value.

Miller's portfolio saw substantial share increases in several companies during the quarter. Crescent Energy Company (CRGY) experienced a 100% increase in shares, while Conduent Inc. (CNDT) saw a remarkable 79.53% jump. Gray Media Inc. (GTN) and Quad/Graphics Inc. (QUAD) also showed significant growth of 34.64% and -3.17% respectively, the latter being a decrease. United Parcel Service (UPS) shares increased by 37.54%. Bread Financial Holdings Inc. (BFH) saw a 3.83% increase, though this was accompanied by a decrease in shares.

Conversely, the portfolio experienced significant reductions in certain holdings. Nabors Industries Ltd. (NBR) saw a 26.26% decrease in shares, USA Today Co. Inc. (GCI) experienced a substantial 42.14% reduction, and Bread Financial Holdings Inc. (BFH) also saw a decrease of 3.83% in shares. Lincoln National Corp Ind (LNC) and State Street S&P 500 ETF (SPY) showed moderate decreases of 13.06% and 49.76% respectively.

New positions were initiated during the quarter, including Bread Financial Holdings Inc. (BFH) and Quad/Graphics Inc. (QUAD). No positions appear to have been fully exited during this period.

For a complete view of Bill Miller's investment activity, you can visit his profile at https://www.insiderset.com/investor/bill-miller-miller-value-partners. Detailed information on the companies in his portfolio, including Nabors Industries Ltd. (NBR), Crescent Energy Company (CRGY), and others, is available on Insiderset.