SEC 13F Intelligence

Managers / Q2 2025 · view latest →

MILLER VALUE PARTNERS, LLC

CIK 0001135778 · 50 S. LEMON AVE #302, SARASOTA, FL, 34236 · 410-454-3159

Reported Value
$236M
Q2 2025
Positions
33
Filings on Record
31
2019–present window
Filed
Aug 14, 2025
original filing

Summary

Miller Value Partners, LLC reported $236M in U.S.-listed holdings across 33 positions for Q2 2025.

Its largest position, LNC, represents 8.4% of the portfolio.

Compared with Q1 2025, the fund opened 1 new position and exited 2.

Portfolio Metrics

Turnover
+6.8%
vs prior filed quarter
Top-10 Concentration
+58.7%
share of reported value
Largest Position
+8.4%
Lincoln Natl Corp Ind
New / Exited
1 / 2
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $2.2BQ4 ’18Q1 ’19: $2.5BQ2 ’19: $2.6BQ3 ’19: $2.5BQ4 ’19: $2.8BQ4 ’19Q1 ’20: $1.6BQ2 ’20: $2.3BQ3 ’20: $2.8BQ4 ’20: $3.3BQ4 ’20Q1 ’21: $3.9BQ2 ’21: $4.2BQ3 ’21: $4.3BQ4 ’21: $3.7BQ4 ’21Q1 ’22: $3.1BQ2 ’22: $2.0BQ3 ’22: $1.6BQ4 ’22: $1.6BQ4 ’22Q1 ’23: $1.6BQ2 ’23: $152MQ3 ’23: $159MQ4 ’23: $168MQ4 ’23Q1 ’24: $156MQ2 ’24: $157MQ3 ’24: $177MQ4 ’24: $234MQ4 ’24Q1 ’25: $219MQ2 ’25: $236MQ3 ’25: $272MQ4 ’25: $284MQ4 ’25Q1 ’26: $383Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 84.0%Other: 10.1%REIT: 4.3%MLP: 1.4%ADR: 0.2%
  • Common Stock · 84.0% · $198M
  • Other · 10.1% · $24M
  • REIT · 4.3% · $10M
  • MLP · 1.4% · $3M
  • ADR · 0.2% · $469,633

Quarter-over-Quarter Changes full breakdown →

vs Q1 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
EASTERLY GOVT PPTYS INCNEW+146.8K146.8K+$3M$3M
JELDJELD-WEN HLDG INCADDED+1.10M1.87M+$3M$7M
EASTERLY GOVT PPTYS INCSOLD OUT−367.0K0−$4M$0
TAT&T INCSOLD OUT−116.0K0−$3M$0
TPCTUTOR PERINI CORPTRIMMED−77.7K12.9K−$1M$603,930
NABORS INDUSTRIES LTDADDED+235.4K624.1K+$1M$17M
CNDTCONDUENT INCADDED+879.8K2.76M+$2M$7M
DCHAMERICAN AXLE & MFG HLDGS INADDED+444.2K1.44M+$2M$6M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q2 2025

33 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1LNCLINCOLN NATL CORP INDhistory →COM8.36%$20M569.5K
2BFHBREAD FINANCIAL HOLDINGS INChistory →COM7.94%$19M327.4K
3NABORS INDUSTRIES LTDSHS7.42%$17M624.1K
4GTNGRAY MEDIA INChistory →COM7.01%$17M3.65M
5QUADQUAD / GRAPHICS INChistory →COM CL A6.50%$15M2.71M
6TDAYGANNETT CO INChistory →COM4.99%$12M3.28M
7JXNJACKSON FINANCIAL INChistory →COM CL A4.71%$11M125.0K
8UGIUGI CORP NEWhistory →COM4.51%$11M292.0K
9BACVERIZON COMMUNICATIONS INChistory →COM3.64%$9M198.0K
10OMFONEMAIN HLDGS INChistory →COM3.60%$8M149.0K
11JELDJELD-WEN HLDG INChistory →COM3.12%$7M1.87M
12CNDTCONDUENT INChistory →COM3.09%$7M2.76M
13CTOCTO RLTY GROWTH INC NEWhistory →COM2.92%$7M399.1K
14WEAWESTERN ALLIANCE BANCORPhistory →COM2.76%$7M83.5K
15MIGAMICROSTRATEGY INChistory →CL A NEW2.62%$6M15.3K
16DCHAMERICAN AXLE & MFG HLDGS INhistory →COM2.49%$6M1.44M
17VTRSVIATRIS INChistory →COM2.35%$6M619.0K
18BBWBUILD-A-BEAR WORKSHOP INChistory →COM2.30%$5M105.0K
19FOSLFOSSIL GROUP INChistory →COM2.18%$5M3.47M
20CHRDCHORD ENERGY CORPORATIONhistory →COM NEW2.17%$5M52.8K
21BMYBRISTOL-MYERS SQUIBB COhistory →COM2.12%$5M108.0K
22BKEBUCKLE INChistory →COM2.02%$5M105.0K
23STELLANTIS N.VSHS1.66%$4M390.0K
24CGCARLYLE GROUP INChistory →COM1.53%$4M70.0K
25BCCBOISE CASCADE CO DELhistory →COM1.47%$3M40.0K
26ARLPALLIANCE RESOURCE PARTNERS Lhistory →UT LTD PART1.41%$3M127.0K
27EASTERLY GOVT PPTYS INCCOM SHS1.38%$3M146.8K
28UNFIUNITED NAT FOODS INChistory →COM1.36%$3M137.4K
29LYONDELLBASELL INDUSTRIES NSHS - A -0.93%$2M38.0K
30SMLRSEMLER SCIENTIFIC INChistory →COM0.87%$2M53.0K
31TPCTUTOR PERINI CORPhistory →COM0.26%$603,93012.9K
32TOTALENERGIES SESPONSORED ADS0.20%$469,6337.7K
33TECHNIPFMC PLCCOM0.12%$279,4818.1K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$383M55May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$284M34Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$272M36Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$236M33Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$219M34May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$234M33Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$177M30Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$157M29Aug 13, 202413F-HRchanges · EDGAR ↗
Q1 2024$156M30May 7, 202413F-HRchanges · EDGAR ↗
Q4 2023$168M42Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$159M46Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$152M46Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$1.6B90May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$1.6B84Feb 14, 2023RESTATEMENTchanges · EDGAR ↗
Q3 2022$1.6B92Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$2.0B119Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$3.1B126May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$3.7B129Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$4.3B125Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$4.2B124Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$3.9B114May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$3.3B102Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$2.8B90Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$2.3B79Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$1.6B73May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$2.8B95Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$2.5B101Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$2.6B102Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$2.5B102May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$2.2B102Feb 14, 201913F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 1 additional manager.

  • EXCHANGE TRADED CONCEPTS, LLC028-19670

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.