# EDGAR Filing Document

**Accession Number:** 0001135778
**File Stem:** 0001135778-26-000003
**Filing Date:** 2026-2
**Character Count:** 8031
**Document Hash:** 2b3583420e77e94f3556388d5803617c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001135778-26-000003.hdr.sgml**: 20260217

**ACCESSION NUMBER**: 0001135778-26-000003

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260217

**DATE AS OF CHANGE**: 20260217

**EFFECTIVENESS DATE**: 20260217

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MILLER VALUE PARTNERS, LLC
- **CENTRAL INDEX KEY:** 0001135778

**ORGANIZATION NAME:**
- **EIN:** 522204753
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-06399
- **FILM NUMBER:** 26636973

**BUSINESS ADDRESS:**
- **STREET 1:** 50 S. LEMON AVE #302
- **CITY:** SARASOTA
- **STATE:** FL
- **ZIP:** 34236
- **BUSINESS PHONE:** 410-454-3159

**MAIL ADDRESS:**
- **STREET 1:** 50 S. LEMON AVE #302
- **CITY:** SARASOTA
- **STATE:** FL
- **ZIP:** 34236

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LMM LLC
- **DATE OF NAME CHANGE:** 20130725

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LMM LLC /MD/
- **DATE OF NAME CHANGE:** 20010301

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Miller Value Partners LLC<br>**Address:** 50 S. LEMON AVE #302<br>SARASOTA, FL 34236

**Form 13F File Number:** 028-06399

**CRD Number (if applicable):** 000110632

**SEC File Number (if applicable):** 801-56989

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Christopher Anderson<br>**Title:** Chief Compliance Officer<br>**Phone:** 410 454-3159

**Signature, Place, and Date of Signing:**

/s/Christopher Anderson  Baltimore, MD  02-17-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[ ] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[x] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 34

**Form 13F Information Table Value Total:** $283834386

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

|   No. | Name                         | Form 13F File Number   |   CRD Number | SEC File Number   |
|---:|:---|:---|---:|:---|
|     1 | EXCHANGE TRADED CONCEPTS LLC | 028-19670              |    000151197 | 801-70485         |

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ALLIANCE RESOURCE PARTNERS L | UT LTD PART | 01877R108 | BBG001SD52Y1 | 3066360 | 132000 | SH |  | SOLE |  | 132000 | 0 | 0 |
| AMERICAN AXLE  MFG HLDGS IN | COM | 024061103 | BBG001S9DR67 | 11119940 | 1734780 | SH |  | SOLE |  | 1666450 | 0 | 68330 |
| BOISE CASCADE CO DEL | COM | 09739D100 | BBG001SZX397 | 2723200 | 37000 | SH |  | SOLE |  | 37000 | 0 | 0 |
| BREAD FINANCIAL HOLDINGS INC | COM | 018581108 | BBG001S78Z50 | 14910752 | 201415 | SH |  | SOLE |  | 197400 | 0 | 4015 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 | BBG001S8N8J6 | 5825520 | 108000 | SH |  | SOLE |  | 108000 | 0 | 0 |
| BUILD-A-BEAR WORKSHOP INC | COM | 120076104 | BBG001SMC9T4 | 4779060 | 78000 | SH |  | SOLE |  | 78000 | 0 | 0 |
| CAL MAINE FOODS INC | COM NEW | 128030202 | BBG001S80MM6 | 4933340 | 62000 | SH |  | SOLE |  | 62000 | 0 | 0 |
| CARLYLE GROUP INC | COM | 14316J108 | BBG001S7JM84 | 2364400 | 40000 | SH |  | SOLE |  | 40000 | 0 | 0 |
| CHORD ENERGY CORPORATION | COM NEW | 674215207 | BBG00Y7BLJF2 | 5354908 | 57766 | SH |  | SOLE |  | 57766 | 0 | 0 |
| CONDUENT INC | COM | 206787103 | BBG00C1BZMV6 | 10720099 | 5583385 | SH |  | SOLE |  | 5352470 | 0 | 230915 |
| CTO RLTY GROWTH INC NEW | COM | 22948Q101 | BBG00Y3M1H68 | 7992609 | 434145 | SH |  | SOLE |  | 434145 | 0 | 0 |
| FOSSIL GROUP INC | COM | 34988V106 | BBG001S6FP74 | 11973400 | 3184415 | SH |  | SOLE |  | 3043180 | 0 | 141235 |
| GRAY MEDIA INC | COM | 389375106 | BBG001S8SQK9 | 19304316 | 3988495 | SH |  | SOLE |  | 3831405 | 0 | 157090 |
| ITURAN LOCATION AND CONTROL | SHS | M6158M104 | BBG001S8KHC6 | 9247150 | 215000 | SH |  | SOLE |  | 215000 | 0 | 0 |
| JACKSON FINANCIAL INC | COM CL A | 46817M107 | BBG00922Y611 | 9187897 | 86150 | SH |  | SOLE |  | 84735 | 0 | 1415 |
| JELD-WEN HLDG INC | COM | 47580P103 | BBG001TG2G57 | 10170157 | 4134210 | SH |  | SOLE |  | 3961795 | 0 | 172415 |
| LINCOLN NATL CORP IND | COM | 534187109 | BBG001S5STV7 | 22477007 | 504761 | SH |  | SOLE |  | 492646 | 0 | 12115 |
| LYONDELLBASELL INDUSTRIES N | SHS - A - | N53745100 | BBG001T8LMY9 | 1645400 | 38000 | SH |  | SOLE |  | 38000 | 0 | 0 |
| MILLROSE PPTYS INC | COM CL A | 601137102 | BBG01RQYH427 | 2473236 | 82800 | SH |  | SOLE |  | 82800 | 0 | 0 |
| NABORS INDUSTRIES LTD | SHS | G6359F137 | BBG001S604K2 | 32728619 | 602737 | SH |  | SOLE |  | 578912 | 0 | 23825 |
| ONEMAIN HLDGS INC | COM | 68268W103 | BBG005497H09 | 5602665 | 82941 | SH |  | SOLE |  | 82941 | 0 | 0 |
| QUAD / GRAPHICS INC | COM CL A | 747301109 | BBG001SG6LT7 | 17166570 | 2737890 | SH |  | SOLE |  | 2646040 | 0 | 91850 |
| STELLANTIS N.V | SHS | N82405106 | BBG0078ZLDH8 | 4671810 | 429000 | SH |  | SOLE |  | 429000 | 0 | 0 |
| STRATEGY INC | CL A NEW | 594972408 | BBG001SC7PX1 | 3836737 | 25250 | SH |  | SOLE |  | 25250 | 0 | 0 |
| TECHNIPFMC PLC | COM | G87110105 | BBG00DL8NMT5 | 334646 | 7510 | SH |  | SOLE |  | 5425 | 0 | 2085 |
| TUTOR PERINI CORP | COM | 901109108 | BBG001S5V297 | 456741 | 6815 | SH |  | SOLE |  | 4880 | 0 | 1935 |
| UGI CORP NEW | COM | 902681105 | BBG001S5X0W3 | 9806660 | 262000 | SH |  | SOLE |  | 262000 | 0 | 0 |
| UNITED NAT FOODS INC | COM | 911163103 | BBG001S7B0Y1 | 425084 | 12625 | SH |  | SOLE |  | 9510 | 0 | 3115 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 | BBG001SDGSH1 | 8589854 | 86600 | SH |  | SOLE |  | 86600 | 0 | 0 |
| UPBOUND GROUP INC | COM | 76009N100 | BBG001S6BR38 | 1229200 | 70000 | SH |  | SOLE |  | 70000 | 0 | 0 |
| USA TODAY CO INC | COM | 36472T109 | BBG005C9FQR2 | 17527227 | 3403345 | SH |  | SOLE |  | 3259650 | 0 | 143695 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 | BBG001S67QY1 | 8064540 | 198000 | SH |  | SOLE |  | 198000 | 0 | 0 |
| VIATRIS INC | COM | 92556V106 | BBG00Y52JV51 | 7706550 | 619000 | SH |  | SOLE |  | 619000 | 0 | 0 |
| WESTERN ALLIANCE BANCORP | COM | 957638109 | BBG001SLM522 | 5418732 | 64455 | SH |  | SOLE |  | 63340 | 0 | 1115 |

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