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.

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.