Bill Miller III

Biography

Bill Miller studied economics at Washington and Lee University and earned the CFA charter in 1986. At Legg Mason his Value Trust beat the S&P 500 for 15 calendar years in a row, from 1991 to 2005. In 2017 he bought out Legg Mason's stake in their joint venture LMM and rebranded the business as Miller Value Partners, with himself as chairman and chief investment officer. He stopped managing Opportunity Trust at the end of 2022.

In their own words

Miller Value Partners’s largest US holdings

From the Q2 2026 13F, worth $423m in total. See every holding and change

1. Nabors IndustriesNBR8.8%
2. Gray MediaGTN6.8%
3. Direxion Shares Etf TrustSPUU5.8%
4. Bloomin' BrandsBLMN5.6%
5. Quad/GraphicsQUAD5.1%
6. Lincoln NationalLNC5.0%
7. Crescent Energy CompanyCRGY4.9%
8. ConduentCNDT4.5%
9. Bread Financial HoldingsBFH3.4%
10. United Parcel ServiceUPS3.0%

Also at Miller Value Partners

• Bill Miller IV Chief investment officer