MILLER VALUE PARTNERS, LLC 13F: Quarter-over-Quarter Portfolio Changes
MILLER VALUE PARTNERS, LLC reported a disclosed portfolio value of approximately $423.1 million in its latest SEC Form 13F-HR filing for Q2 2026, up 10.4% quarter on quarter. Over the quarter, the manager initiated 4 new positions, bought more shares in 20 holdings, trimmed 22 holdings, and exited 3 positions.
MILLER VALUE PARTNERS, LLC's top buy was a new stake in Direxion Shares ETF Trust (SPUU) , equal to 5.8% of the disclosed portfolio. Its top sell was State Str Spdr S&p 500 ETF T (SPY) . The manager exited the position completely after it had accounted for 5.1% of the previous portfolio.
New PositionsQ2 2026
Securities disclosed for the first time in Q2 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| DIREXION SHARES ETF TRUST | SPUU | 5.8% | History → |
| COTY INC | COTY | 2.0% | Holders → |
| META PLATFORMS INC | META | 0.9% | Holders → |
| AMERIPRISE FINL INC | AMP | 0.5% | Holders → |
Top BuysQ2 2026
Showing the top 10 buys among 20 existing positions where the manager bought more shares in Q2 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| UPBOUND GROUP INC | UPBD | +0.7% | +115.0% | Holders → |
| DAUCH CORP | DCH | +0.8% | +63.5% | Holders → |
| GRAY MEDIA INC | GTN | +0.7% | +34.9% | History → |
| CONDUENT INC | CNDT | +1.1% | +29.6% | History → |
| BUILD-A-BEAR WORKSHOP INC | BBW | +-0.0% | +28.8% | Holders → |
| BLOOMIN BRANDS INC | BLMN | +2.7% | +27.0% | History → |
| MILLROSE PPTYS INC | MRP | +0.3% | +26.8% | Holders → |
| JELD-WEN HOLDING INC | JELD | +0.4% | +7.8% | Holders → |
| LINCOLN NATL CORP IND | LNC | +-0.2% | +5.7% | History → |
| CRESCENT ENERGY COMPANY | CRGY | +-2.2% | +4.5% | History → |
Top SellsQ2 2026
Showing the top 10 sells among 22 existing positions where the manager sold shares in Q2 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| AIRBNB INC | ABNB | -0.2% | 44.7% | Holders → |
| ITURAN LOCATION AND CONTROL | ITRN | -0.7% | 34.4% | Holders → |
| BREAD FINANCIAL HOLDINGS INC | BFH | -0.4% | 31.4% | History → |
| USA TODAY CO INC | TDAY | -0.8% | 28.9% | Holders → |
| ZIFF DAVIS INC | ZD | -0.1% | 25.6% | Holders → |
| CROCS INC | CROX | -0.0% | 25.1% | Holders → |
| WESTERN ALLIANCE BANCORP | WAL | -0.2% | 24.4% | Holders → |
| MERCADOLIBRE INC | MELI | -0.3% | 22.7% | Holders → |
| TUTOR PERINI CORP | TPC | -0.0% | 11.6% | Holders → |
| FOSSIL GROUP INC | FOSL | -0.6% | 11.6% | Holders → |
Full ExitsQ2 2026
Positions present in the prior 13F-HR filing that no longer appear in Q2 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| STATE STR SPDR S&P 500 ETF T | SPY | 5.1% |
| MASTERBRAND INC | MBC | 0.2% |
| PORTILLOS INC | PTLO | 0.2% |
Net Portfolio Value ChangeQ2 2026
- $0.4BPrior quarter
- $0.4BCurrent quarter
- +$0.0BNet delta
- +10.4%% change
Methodology & FAQ
How MILLER VALUE PARTNERS, LLC Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for MILLER VALUE PARTNERS, LLC: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description, including how confidential treatment filings are handled, is documented in the Methodology.
What stocks did MILLER VALUE PARTNERS, LLC buy in Q2 2026?
In Q2 2026, MILLER VALUE PARTNERS, LLC initiated 4 new positions (DIREXION SHARES ETF TRUST (SPUU), COTY INC (COTY), META PLATFORMS INC (META), AMERIPRISE FINL INC (AMP)); bought more shares of UPBOUND GROUP INC (UPBD), DAUCH CORP (DCH), GRAY MEDIA INC (GTN), CONDUENT INC (CNDT), BUILD-A-BEAR WORKSHOP INC (BBW) (the largest 5 of 20 adds).
What stocks did MILLER VALUE PARTNERS, LLC sell in Q2 2026?
In Q2 2026, MILLER VALUE PARTNERS, LLC fully sold 3 positions (STATE STR SPDR S&P 500 ETF T (SPY), MASTERBRAND INC (MBC), PORTILLOS INC (PTLO)); reduced holdings in AIRBNB INC (ABNB), ITURAN LOCATION AND CONTROL (ITRN), BREAD FINANCIAL HOLDINGS INC (BFH), USA TODAY CO INC (TDAY), ZIFF DAVIS INC (ZD) (the largest 5 of 22 reductions).
Which positions did MILLER VALUE PARTNERS, LLC initiate in Q2 2026?
MILLER VALUE PARTNERS, LLC established 4 new positions in Q2 2026: DIREXION SHARES ETF TRUST (SPUU, 5.8%), COTY INC (COTY, 2.0%), META PLATFORMS INC (META, 0.9%), AMERIPRISE FINL INC (AMP, 0.5%).
Which existing positions saw the largest allocation increases for MILLER VALUE PARTNERS, LLC in Q2 2026?
Of 20 existing positions with share-count increases in Q2 2026, the largest were: UPBOUND GROUP INC (UPBD, +0.7% weight, +115.0% shares), DAUCH CORP (DCH, +0.8% weight, +63.5% shares), GRAY MEDIA INC (GTN, +0.7% weight, +34.9% shares), CONDUENT INC (CNDT, +1.1% weight, +29.6% shares), BUILD-A-BEAR WORKSHOP INC (BBW, +-0.0% weight, +28.8% shares), BLOOMIN BRANDS INC (BLMN, +2.7% weight, +27.0% shares), MILLROSE PPTYS INC (MRP, +0.3% weight, +26.8% shares), JELD-WEN HOLDING INC (JELD, +0.4% weight, +7.8% shares), LINCOLN NATL CORP IND (LNC, +-0.2% weight, +5.7% shares), CRESCENT ENERGY COMPANY (CRGY, +-2.2% weight, +4.5% shares).
Which positions did MILLER VALUE PARTNERS, LLC fully exit in Q2 2026?
MILLER VALUE PARTNERS, LLC fully exited 3 positions in Q2 2026: STATE STR SPDR S&P 500 ETF T (SPY, last-reported weight 5.1%), MASTERBRAND INC (MBC, last-reported weight 0.2%), PORTILLOS INC (PTLO, last-reported weight 0.2%).
Which existing positions saw the largest allocation reductions for MILLER VALUE PARTNERS, LLC in Q2 2026?
Of 22 existing positions with share-count reductions in Q2 2026, the largest were: AIRBNB INC (ABNB, -0.2% weight, -44.7% shares), ITURAN LOCATION AND CONTROL (ITRN, -0.7% weight, -34.4% shares), BREAD FINANCIAL HOLDINGS INC (BFH, -0.4% weight, -31.4% shares), USA TODAY CO INC (TDAY, -0.8% weight, -28.9% shares), ZIFF DAVIS INC (ZD, -0.1% weight, -25.6% shares), CROCS INC (CROX, -0.0% weight, -25.1% shares), WESTERN ALLIANCE BANCORP (WAL, -0.2% weight, -24.4% shares), MERCADOLIBRE INC (MELI, -0.3% weight, -22.7% shares), TUTOR PERINI CORP (TPC, -0.0% weight, -11.6% shares), FOSSIL GROUP INC (FOSL, -0.6% weight, -11.6% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.