MILLER VALUE PARTNERS, LLC 13F: Quarter-over-Quarter Portfolio Changes
MILLER VALUE PARTNERS, LLC reported a disclosed portfolio value of approximately $383.2 million in its latest SEC Form 13F-HR filing for Q1 2026, up 35.0% quarter on quarter. Over the quarter, the manager initiated 22 new positions, bought more shares in 13 holdings, trimmed 15 holdings, and exited 1 position.
MILLER VALUE PARTNERS, LLC's top buy was a new stake in Crescent Energy Company (CRGY) , equal to 7.1% of the disclosed portfolio. Its top sell was Stellantis N.V (STLA) . The manager exited the position completely after it had accounted for 1.6% of the previous portfolio.
New PositionsQ1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| CRESCENT ENERGY COMPANY | CRGY | 7.1% | History → |
| STATE STR SPDR S&P 500 ETF T | SPY | 5.1% | History → |
| BLOOMIN BRANDS INC | BLMN | 2.9% | Holders → |
| ARBOR REALTY TRUST INC | ABR | 1.2% | Holders → |
| MERCADOLIBRE INC | MELI | 1.0% | Holders → |
| CROCS INC | CROX | 0.8% | Holders → |
| FIGURE TECHNOLOGY SOLUTIO | FIGR | 0.8% | Holders → |
| ZIFF DAVIS INC | ZD | 0.7% | Holders → |
| RESIDEO TECHNOLOGIES INC | REZI | 0.6% | Holders → |
| CITI TRENDS INC | CTRN | 0.6% | Holders → |
| AIRBNB, INC. | ABNB | 0.5% | Holders → |
| MAPLEBEAR INC | CART | 0.4% | Holders → |
| BUILDERS FIRSTSOURCE INC | BLDR | 0.4% | Holders → |
| PERDOCEO ED CORP | PRDO | 0.4% | Holders → |
| SHIFT4 PMTS INC | FOUR | 0.3% | Holders → |
| COUPANG INC | CPNG | 0.3% | Holders → |
| PINTEREST INC | PINS | 0.3% | Holders → |
| MASTERBRAND INC | MBC | 0.2% | Holders → |
| VROOM INC | VRM | 0.2% | Holders → |
| PORTILLOS INC | PTLO | 0.2% | Holders → |
| LITHIA MOTORS INC | LAD | 0.2% | Holders → |
| SHARKNINJA INC | SN | 0.2% | Holders → |
Top BuysQ1 2026
Showing the top 10 buys among 13 existing positions where the manager bought more shares in Q1 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| MILLROSE PPTYS INC | MRP | +0.4% | +118.4% | Holders → |
| STRATEGY INC | MSTR | +0.3% | +106.2% | Holders → |
| CONDUENT INC | CNDT | +-0.4% | +79.5% | History → |
| UPBOUND GROUP INC | UPBD | +0.1% | +71.4% | Holders → |
| JELD-WEN HLDG INC | JELD | +-1.4% | +60.1% | Holders → |
| ALLIANCE RESOURCE PARTNERS L | ARLP | +0.3% | +40.3% | Holders → |
| UNITED PARCEL SVCS INC | UPS | +0.0% | +37.5% | History → |
| GRAY MEDIA INC | GTN | +-0.7% | +34.6% | History → |
| BUILD-A-BEAR WORKSHOP INC | BBW | +-0.7% | +33.0% | Holders → |
| CTO RLTY GROWTH INC NEW | CTO | +-0.1% | +28.1% | Holders → |
Top SellsQ1 2026
Showing the top 10 sells among 15 existing positions where the manager sold shares in Q1 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| TUTOR PERINI CORP | TPC | -0.1% | 59.0% | Holders → |
| UNITED NATURAL FOODS INC | UNFI | -0.1% | 58.4% | Holders → |
| TECHNIPFMC PLC | FTI | -0.1% | 57.8% | Holders → |
| UGI CORP NEW | UGI | -2.3% | 53.8% | Holders → |
| USA TODAY CO INC | TDAY | -2.6% | 42.1% | History → |
| BRISTOL-MYERS SQUIBB CO | BMY | -1.0% | 35.6% | Holders → |
| NABORS INDUSTRIES LTD | NBR | -1.5% | 26.3% | History → |
| FOSSIL GROUP INC | FOSL | -1.5% | 23.8% | Holders → |
| DAUCH CORP | DCH | -1.8% | 19.5% | Holders → |
| VERIZON COMMUNICATIONS INC. | VZ | -0.6% | 15.2% | Holders → |
Full ExitsQ1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| STELLANTIS N.V | STLA | 1.6% |
Net Portfolio Value ChangeQ1 2026
- $0.3BPrior quarter
- $0.4BCurrent quarter
- +$0.1BNet delta
- +35.0%% 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 Q1 2026?
In Q1 2026, MILLER VALUE PARTNERS, LLC initiated 22 new positions (CRESCENT ENERGY COMPANY (CRGY), STATE STR SPDR S&P 500 ETF T (SPY), BLOOMIN BRANDS INC (BLMN), ARBOR REALTY TRUST INC (ABR), MERCADOLIBRE INC (MELI), CROCS INC (CROX), FIGURE TECHNOLOGY SOLUTIO (FIGR), ZIFF DAVIS INC (ZD), RESIDEO TECHNOLOGIES INC (REZI), CITI TRENDS INC (CTRN), AIRBNB, INC. (ABNB), MAPLEBEAR INC (CART), BUILDERS FIRSTSOURCE INC (BLDR), PERDOCEO ED CORP (PRDO), SHIFT4 PMTS INC (FOUR), COUPANG INC (CPNG), PINTEREST INC (PINS), MASTERBRAND INC (MBC), VROOM INC (VRM), PORTILLOS INC (PTLO), LITHIA MOTORS INC (LAD), SHARKNINJA INC (SN)); bought more shares of MILLROSE PPTYS INC (MRP), STRATEGY INC (MSTR), CONDUENT INC (CNDT), UPBOUND GROUP INC (UPBD), JELD-WEN HLDG INC (JELD) — the largest 5 of 13 adds.
What stocks did MILLER VALUE PARTNERS, LLC sell in Q1 2026?
In Q1 2026, MILLER VALUE PARTNERS, LLC fully sold 1 position (STELLANTIS N.V (STLA)); reduced holdings in TUTOR PERINI CORP (TPC), UNITED NATURAL FOODS INC (UNFI), TECHNIPFMC PLC (FTI), UGI CORP NEW (UGI), USA TODAY CO INC (TDAY) — the largest 5 of 15 reductions.
Which positions did MILLER VALUE PARTNERS, LLC initiate in Q1 2026?
MILLER VALUE PARTNERS, LLC established 22 new positions in Q1 2026: CRESCENT ENERGY COMPANY (CRGY, 7.1%), STATE STR SPDR S&P 500 ETF T (SPY, 5.1%), BLOOMIN BRANDS INC (BLMN, 2.9%), ARBOR REALTY TRUST INC (ABR, 1.2%), MERCADOLIBRE INC (MELI, 1.0%), CROCS INC (CROX, 0.8%), FIGURE TECHNOLOGY SOLUTIO (FIGR, 0.8%), ZIFF DAVIS INC (ZD, 0.7%), RESIDEO TECHNOLOGIES INC (REZI, 0.6%), CITI TRENDS INC (CTRN, 0.6%), AIRBNB, INC. (ABNB, 0.5%), MAPLEBEAR INC (CART, 0.4%), BUILDERS FIRSTSOURCE INC (BLDR, 0.4%), PERDOCEO ED CORP (PRDO, 0.4%), SHIFT4 PMTS INC (FOUR, 0.3%), COUPANG INC (CPNG, 0.3%), PINTEREST INC (PINS, 0.3%), MASTERBRAND INC (MBC, 0.2%), VROOM INC (VRM, 0.2%), PORTILLOS INC (PTLO, 0.2%), LITHIA MOTORS INC (LAD, 0.2%), SHARKNINJA INC (SN, 0.2%).
Which existing positions saw the largest allocation increases for MILLER VALUE PARTNERS, LLC in Q1 2026?
Of 13 existing positions with share-count increases in Q1 2026, the largest were: MILLROSE PPTYS INC (MRP, +0.4% weight, +118.4% shares), STRATEGY INC (MSTR, +0.3% weight, +106.2% shares), CONDUENT INC (CNDT, +-0.4% weight, +79.5% shares), UPBOUND GROUP INC (UPBD, +0.1% weight, +71.4% shares), JELD-WEN HLDG INC (JELD, +-1.4% weight, +60.1% shares), ALLIANCE RESOURCE PARTNERS L (ARLP, +0.3% weight, +40.3% shares), UNITED PARCEL SVCS INC (UPS, +0.0% weight, +37.5% shares), GRAY MEDIA INC (GTN, +-0.7% weight, +34.6% shares), BUILD-A-BEAR WORKSHOP INC (BBW, +-0.7% weight, +33.0% shares), CTO RLTY GROWTH INC NEW (CTO, +-0.1% weight, +28.1% shares).
Which positions did MILLER VALUE PARTNERS, LLC fully exit in Q1 2026?
MILLER VALUE PARTNERS, LLC fully exited 1 position in Q1 2026: STELLANTIS N.V (STLA, last-reported weight 1.6%).
Which existing positions saw the largest allocation reductions for MILLER VALUE PARTNERS, LLC in Q1 2026?
Of 15 existing positions with share-count reductions in Q1 2026, the largest were: TUTOR PERINI CORP (TPC, -0.1% weight, -59.0% shares), UNITED NATURAL FOODS INC (UNFI, -0.1% weight, -58.4% shares), TECHNIPFMC PLC (FTI, -0.1% weight, -57.8% shares), UGI CORP NEW (UGI, -2.3% weight, -53.8% shares), USA TODAY CO INC (TDAY, -2.6% weight, -42.1% shares), BRISTOL-MYERS SQUIBB CO (BMY, -1.0% weight, -35.6% shares), NABORS INDUSTRIES LTD (NBR, -1.5% weight, -26.3% shares), FOSSIL GROUP INC (FOSL, -1.5% weight, -23.8% shares), DAUCH CORP (DCH, -1.8% weight, -19.5% shares), VERIZON COMMUNICATIONS INC. (VZ, -0.6% weight, -15.2% 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.