SEC 13F Intelligence

Managers / Q4 2025 · view latest →

MILLER VALUE PARTNERS, LLC

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

Reported Value
$284M
Q4 2025
Positions
34
Filings on Record
31
2019–present window
Filed
Feb 17, 2026
original filing

Summary

Miller Value Partners, LLC reported $284M in U.S.-listed holdings across 34 positions for Q4 2025.

Its largest position, Nabors Industries, represents 11.5% of the portfolio.

Compared with Q3 2025, the fund opened 1 new position and exited 3.

Portfolio Metrics

Turnover
+5.7%
vs prior filed quarter
Top-10 Concentration
+59.2%
share of reported value
Largest Position
+11.5%
Nabors Industries
New / Exited
1 / 3
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: 78.1%Other: 17.1%REIT: 3.7%MLP: 1.1%
  • Common Stock · 78.1% · $222M
  • Other · 17.1% · $49M
  • REIT · 3.7% · $10M
  • MLP · 1.1% · $3M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
MRPMILLROSE PPTYS INCNEW+82.8K82.8K+$2M$2M
UPBDUPBOUND GROUP INCADDED+50.0K70.0K+$756,600$1M
BKEBUCKLE INCSOLD OUT−72.0K0−$4M$0
SMLRSEMLER SCIENTIFIC INCSOLD OUT−53.0K0−$2M$0
TOTALENERGIES SESOLD OUT−7.7K0−$456,628$0
JELDJELD-WEN HLDG INCADDED+2.07M4.13M+$12,153$10M
UNFIUNITED NAT FOODS INCTRIMMED−60.8K12.6K−$2M$425,084
MIGASTRATEGY INCADDED+10.0K25.3K−$1M$4M

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

Holdings — Q4 2025

34 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1NABORS INDUSTRIES LTDSHS11.53%$33M602.7K
2LNCLINCOLN NATL CORP INDhistory →COM7.92%$22M504.8K
3GTNGRAY MEDIA INChistory →COM6.80%$19M3.99M
4TDAYUSA TODAY CO INChistory →COM6.18%$18M3.40M
5QUADQUAD / GRAPHICS INChistory →COM CL A6.05%$17M2.74M
6BFHBREAD FINANCIAL HOLDINGS INChistory →COM5.25%$15M201.4K
7FOSLFOSSIL GROUP INChistory →COM4.22%$12M3.18M
8DCHAMERICAN AXLE & MFG HLDGS INhistory →COM3.92%$11M1.73M
9CNDTCONDUENT INChistory →COM3.78%$11M5.58M
10JELDJELD-WEN HLDG INChistory →COM3.58%$10M4.13M
11UGIUGI CORP NEWhistory →COM3.46%$10M262.0K
12ITURAN LOCATION AND CONTROLSHS3.26%$9M215.0K
13JXNJACKSON FINANCIAL INChistory →COM CL A3.24%$9M86.2K
14UPSUNITED PARCEL SERVICE INChistory →CL B3.03%$9M86.6K
15BACVERIZON COMMUNICATIONS INChistory →COM2.84%$8M198.0K
16CTOCTO RLTY GROWTH INC NEWhistory →COM2.82%$8M434.1K
17VTRSVIATRIS INChistory →COM2.72%$8M619.0K
18BMYBRISTOL-MYERS SQUIBB COhistory →COM2.05%$6M108.0K
19OMFONEMAIN HLDGS INChistory →COM1.97%$6M82.9K
20WEAWESTERN ALLIANCE BANCORPhistory →COM1.91%$5M64.5K
21CHRDCHORD ENERGY CORPORATIONhistory →COM NEW1.89%$5M57.8K
22CALMCAL MAINE FOODS INChistory →COM NEW1.74%$5M62.0K
23BBWBUILD-A-BEAR WORKSHOP INChistory →COM1.68%$5M78.0K
24STELLANTIS N.VSHS1.65%$5M429.0K
25MIGASTRATEGY INChistory →CL A NEW1.35%$4M25.3K
26ARLPALLIANCE RESOURCE PARTNERS Lhistory →UT LTD PART1.08%$3M132.0K
27BCCBOISE CASCADE CO DELhistory →COM0.96%$3M37.0K
28MRPMILLROSE PPTYS INChistory →COM CL A0.87%$2M82.8K
29CGCARLYLE GROUP INChistory →COM0.83%$2M40.0K
30LYONDELLBASELL INDUSTRIES NSHS - A -0.58%$2M38.0K
31UPBDUPBOUND GROUP INChistory →COM0.43%$1M70.0K
32TPCTUTOR PERINI CORPhistory →COM0.16%$456,7416.8K
33UNFIUNITED NAT FOODS INChistory →COM0.15%$425,08412.6K
34TECHNIPFMC PLCCOM0.12%$334,6467.5K

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 ↗.