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Bill Miller’s cannibal stocks

Miller Value Partners · 13F for Q2 2026

11cannibals held
$56.7Min these positions
Q2 2026latest 13F filing

Bread Financial

BFHReduced
$14.4M132,798 shares

Bread Financial retired 15.9% of its shares in twelve months, so this stake grew 18.9% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026

Fossil Group

FOSLReduced
$8.9M2,143,445 shares

Fossil Group has retired 16.3% of its shares since its peak.

Shares held, 8 quarters
Q3 2024Q2 2026
$8.2M80,142 shares

Jackson Financial retired 0.4% of its shares in twelve months, so this stake grew 0.4% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026

Upbound Group

UPBDAdded
$5.5M258,000 shares

Upbound Group has retired 21.8% of its shares since its peak.

Shares held, 8 quarters
Q3 2024Q2 2026
$4.1M133,567 shares

Build-A-Bear Workshop retired 6.1% of its shares in twelve months, so this stake grew 6.5% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026
$3.6M6,412 shares

Meta Platforms has retired 12.2% of its shares since its peak.

Shares held, 8 quarters
Q3 2024Q2 2026

Crocs

CROXReduced
$3.5M28,856 shares

Crocs retired 7.6% of its shares in twelve months, so this stake grew 8.3% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026

Citi Trends

CTRNAdded
$3.1M54,200 shares

Citi Trends retired 0.1% of its shares in twelve months, so this stake grew 0.1% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026

Ziff Davis

ZDReduced
$2.7M50,602 shares

Ziff Davis retired 13.2% of its shares in twelve months, so this stake grew 15.2% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026
$2.0M4,428 shares

Ameriprise retired 4.9% of its shares in twelve months, so this stake grew 5.2% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026
$788K2,712 shares

Lithia Motors retired 9.3% of its shares in twelve months, so this stake grew 10.3% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026

Values as reported in the 13F at quarter end. See the Q2 2026 filing on EDGAR.

Questions

Which cannibal stocks does Bill Miller own?

In the Q2 2026 13F, Miller Value Partners held BFH, FOSL, JXN, UPBD, BBW, META, CROX, CTRN, ZD, AMP, LAD. 11 of them are on the Buyback Radar leaderboard.

Where does this data come from?

From Miller Value Partners's 13F filings with the SEC, the last eight quarters, amendments applied, options excluded. A 13F shows US-listed stock positions at quarter end and is filed up to 45 days later, so it is a record, not a live portfolio.

How do buybacks help Bill Miller?

Bread Financial retired 15.9% of its shares in the last twelve months. That alone made every remaining share, including Bill Miller's 132,798, 18.9% bigger as a slice of the company, without buying anything.

Bill Miller’s moves in companies like these are covered on Cannibal Stocks.

Read Cannibal Stocks All superinvestors →