What did Bill Miller buy in Q4 2025?

Bill Miller opened 1 new position (MRP) and added to 4 existing holdings in the Q4 2025 13F.

What did Bill Miller sell in Q4 2025?

Bill Miller exited 3 positions (BKE, SMLR, TTEN) and trimmed 3.

What Bill Miller bought and sold in Q4 2025

In Q4 2025, Bill Miller (Miller Value Partners) opened 1 new position — including MRP (0.9%), added to 4, trimmed 3, exited 3 (BKE, SMLR, TTEN). The book stood at $284M across 34 positions, filed Feb 17, 2026.

1New4Added3Trimmed3Exited

Share𝕏 in

New positions (1)

MRPMillrose Properties0.9% · $2M

Added to (4)

CNDTConduent Inc+39% shares · 3.8% · $11M
JELDJeld-wen Holding Inc+100% shares · 3.6% · $10M
MSTRStrategy Inc+66% shares · 1.4% · $4M
UPBDUpbound Group Inc+250% shares · 0.4% · $1M

Trimmed (3)

BFHBread Financial Holdings Inc-25% shares · 5.3% · $15M
BBWBuild-a-bear Workshop Inc-20% shares · 1.7% · $5M
UNFIUnited Natural Foods Inc-83% shares · 0.1% · $425K

Exited (3)

BKEBuckle Inc/thewas 1.6% of book
SMLRSemler Scientific Incwas 0.6% of book
TTENTotalenergies SE -spon Adrwas 0.2% of book

Bill Miller's other filings

Q2 2026 changes Q1 2026 changes Q3 2025 changes Q2 2025 changes Q1 2025 changes

Bill Miller's full portfolio →The whole cohort in Q4 2025 →

Changes vs the prior quarter's 13F, long US equity positions only (no shorts, options, or non-US listings). ADD/TRIM are share- count changes of ±20% or more. Sourced from SEC EDGAR. Not investment advice.