Veteran investor Bill Miller's firm, Miller Value Partners, significantly increased its investment in Gray Television (GTN). According to a quarterly disclosure, the firm boosted its holdings by nearly 35% to a total of 7.24 million shares. The position was valued at $28.76 million at the end of June 2026, representing a 6.80% portfolio weight.
This filing, which reflects trades made between April and June, shows the move coincided with Miller's firm publicly naming GTN a "top stock pick" in July. [2, 3, 4] The increased investment came as Gray Television was actively expanding, having just announced a $50 million acquisition of six new TV stations. [2, 3] Subsequently, Gray reported strong second-quarter results, driven by political advertising revenue that significantly beat expectations. [1, 7]