Bill Miller's Q1 2026 Portfolio Highlights Major Gains in Energy, Declines in Financials

Bill Miller's portfolio, valued at approximately $380 million as of March 31, 2026, displayed notable quarterly trends. Detailed analysis of the top holdings reveals significant shifts in position sizes.

Among the most significant moves was a 100% increase in shares of Crescent Energy Company (CRGY), which now accounts for 7.06% of the portfolio. Similarly, Gray Media Inc (GTN) saw a substantial 34.64% increase, boosting its portfolio allocation to 6.08%, and Conduent Inc (CNDT) experienced a remarkable 79.53% share growth, now representing 3.35% of the assets.

Conversely, Bill Miller reduced his position in NABORS Industries Ltd (NBR) by 26.26%, decreasing its allocation from previous periods. USA Today Co Inc (GCI) also saw a significant reduction, with a 42.14% decrease in shares, lowering its portfolio percentage. Other notable decreases included Bread Financial Holdings Inc (BFH) (-3.83%) and Lincoln National Corp Ind (LNC) (-13.06%).

The portfolio also includes significant positions in SPY (S&P 500 ETF) and UPS, which saw substantial share increases of 49.76% and 37.54% respectively, though their allocations are lower than some equity positions.

For more detailed information on Bill Miller's investment strategy and performance, visit his profile at https://www.insiderset.com/investor/bill-miller-miller-value-partners. Detailed analysis of individual holdings like NBR, CRGY, and others can be found at their respective company pages, for example, NBR, CRGY, etc.