Miller Value Partners Dumps 72,000 Buckle Inc. Shares for $4.2 Million

By Will Healy – Mar 12, 2026 at 10:11PM ESTKey PointsExited entire position in Buckle, reducing holdings by 72,000 shares; estimated trade size was $4.22 million based on quarterly average pricing.This move represented a 1.49% decrease in the fund’s reportable 13F assets under management.The position previously accounted for approximately 1.55% of the fund’s AUM as of the prior quarter.On February 17, 2026, Miller Value Partners, LLC, disclosed in a U.S. Securities and Exchange Commission filing that it sold out its entire stake in Buckle (BKE +0.28%).What happenedAccording to an SEC filing dated February 17, 2026, Miller Value Partners, LLC, sold all 72,000 shares of Buckle during the fourth quarter of 2025, fully exiting the position. The estimated transaction value was $4.22 million, calculated using the quarter’s average share price. The net position change, representing the quarter-end valuation impact, also totaled $4.22 million. The fund now reports a zero stake in the retailer.What else to knowTop holdings after this filing:NYSE:NBR: approximately $32.73 million (approximately 11.5% of AUM)NYSE:LNC: approximately $22.48 million (approximately 7.9% of AUM)NYSE:GTN: approximately $19.30 million (approximately 6.8% of AUM)NYSE:TDAY: approximately $17.53 million (approximately 6.2% of AUM)NYSE:QUAD: approximately $17.17 million (approximately 6.0% of AUM)As of February 13, 2026, shares of Buckle were priced at $53.45, showing a one-year return of approximately 36.8% and outperforming the S&P 500 by 25.05 percentage points.Company/Etf overviewMetricValueRevenue (TTM)$1.28 billionNet income (TTM)$206.10 millionDividend yield2.62%Price (as of market close February 13, 2026)$53.45Company/Etf snapshotOffers branded and private label casual apparel, footwear, and accessories, with significant revenue generated from denim, tops, and related merchandise.Operates a multi-channel retail model through physical stores and e-commerce, leveraging exclusive brands and value-added services such as hemming, loyalty programs, and private label credit cards.Targets young men and women in the United States seeking fashionable, casual wear, primarily serving customers through over 400 retail locations and its online platform.Buckle is a leading U.S. retailer specializing in casual apparel and accessories for young adults, operating a network of over 400 stores nationwide and a robust e-commerce platform. The company's strategy emphasizes exclusive private labels, curated brand assortments, and personalized in-store services to drive customer loyalty and repeat business. With a strong dividend yield and consistent profitability, Buckle leverages its established market presence and operational efficiency to maintain a competitive edge in the apparel retail sector.What this transaction means for investorsAfter years of holding the retailer Buckle, Inc., Miller Value Partners exited its entire position in the fourth quarter of 2025.Although the stock has traded since 1992, it had risen by a relatively modest 37% over the previous five years. This compares to a 132% total return in that time, meaning it earned the majority of its returns from the quarterly payouts and the special dividends it periodically distributed.ExpandNYSE: BKEBuckleToday's Change(0.28%) $0.14Current Price$50.62Key Data PointsMarket Cap$2.6BDay's Range$49.71 - $50.8852wk Range$31.33 - $58.35Volume16KAvg Vol494KGross Margin48.94%Dividend Yield2.66%Such filings do not explain why a fund chooses to sell. At a P/E ratio of 13, it was not a particularly expensive retail stock, and the fund tends to invest in retail, industrial, and financial stocks that do not stand out for rapid growth rates.Nonetheless, net income growth was in the low single digits and is expected to slow to just 0.15% in fiscal 2027. Amid such returns, Miller could likely earn higher returns in a different investment.Read NextJan 13, 2023 •By Michael ByrneThis Explosive Dividend Stock Is Trouncing the Market and Still Looks CheapAug 21, 2020 •By Jon QuastHere's Why The Buckle Stock Soared TodayMay 22, 2020 •By Motley Fool TranscribersBuckle Inc (BKE) Q1 2020 Earnings Call TranscriptJan 23, 2020 •By Parkev Tatevosian, CFAThis Specialty Retail Company Could Be About to Report Its First Sales Increase in 4 YearsJan 12, 2020 •By Pearl WangThis Retail Stock Has a 9% Dividend Yield: Is It a Buy?Nov 24, 2019 •By Asit Sharma, CPAMen's Merchandise Powers The Buckle's Latest ResultsAbout the AuthorWill Healy is a contributing Motley Fool stock market analyst covering technology and consumer goods industries.

Before The Motley Fool, Will was a freelance writer covering stocks and personal finance for MSN Money, Yahoo! Finance, and Nasdaq. Earlier in his career, he was an expert in geographic information systems, applying spatial and IT skills to perform RF and demographic analysis in the telecom industry. He holds a bachelor’s degree in journalism from Texas A&M University and an MBA in finance and strategy from the University of Texas at Dallas.TMFWillHealyX@HealyWritingStocks MentionedBuckleNYSE: BKE$50.62(+0.28%)+$0.14Nabors IndustriesNYSE: NBR$75.61(-3.95%)-$3.11Lincoln NationalNYSE: LNC$32.57(-1.82%)-$0.61Gray MediaNYSE: GTN$4.84(-3.69%)-$0.19USA TodayNYSE: TDAY$6.39(-1.69%)-$0.11Quad/GraphicsNYSE: QUAD$6.54(-1.95%)-$0.13*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.