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Bill Miller - Miller Value Partners – Largest Position Reductions (2025 Q4)

This report summarizes the most meaningful reductions and sell-offs made by Bill Miller - Miller Value Partners in 2025 Q4. The analysis highlights which positions were trimmed or exited, providing insight into how the investor adjusted risk exposure and portfolio strategy.

Symbol Shares Reported Price(USD) Action Change % Portfolio Weight Position Value Filing Period
NBR 602,737 $54.3 Reduced -10.45% 11.52% $32.73M 2025 Q4
LNC 504,761 $44.53 Reduced -3.06% 7.91% $22.48M 2025 Q4
BFH 201,415 $74.03 Reduced -25.40% 5.25% $14.91M 2025 Q4
FOSL 3,184,415 $3.76 Reduced -4.27% 4.22% $11.97M 2025 Q4
JXN 86,150 $106.65 Reduced -8.18% 3.24% $9.19M 2025 Q4
OMF 82,941 $67.55 Reduced -9.79% 1.97% $5.6M 2025 Q4
BBW 78,000 $61.27 Reduced -20.41% 1.68% $4.78M 2025 Q4
UNFI 12,625 $33.66 Reduced -82.81% 0.15% $424.96K 2025 Q4
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