JELD-WEN Stock Down 33% in Q2 Amid Housing Weakness

Miller Value Partners' Deep Value Strategy reported a -0.95% drawdown in Q2, compared to +3.02% for the S&P 1500 Value Index and +2.52% for the S&P 600 Value Index. The strategy highlighted JELD-WEN Holding as a top performer, with a 33% decline in the quarter. Despite the decline, Miller Value Partners increased its position in JELD-WEN Holding, citing deep discounts to its long-term fundamental value.

Miller Value Partners, an investment management company, released its “Deep Value Strategy” second-quarter 2025 investor letter, providing insights into its performance and top holdings. The strategy reported a -0.95% drawdown in the quarter, compared to +3.02% for the S&P 1500 Value Index and +2.52% for the S&P 600 Value Index [1]. Despite the quarterly decline, Miller Value Partners increased its position in JELD-WEN Holding, citing deep discounts to its long-term fundamental value.

JELD-WEN Holding experienced a 33% decline in the quarter, yet Miller Value Partners maintained a positive outlook, highlighting the company's undervaluation. The strategy's optimism is rooted in JELD-WEN Holding's long-term prospects and the potential for a rebound in the market [1]. Miller Value Partners believes that the current market conditions present an opportunity to invest in JELD-WEN Holding at a significant discount to its intrinsic value.

In addition to JELD-WEN Holding, Miller Value Partners also highlighted Nabors Industries Ltd. (NYSE:NBR) as a top performer in its Q2 2025 investor letter. Nabors Industries Ltd. is a drilling and drilling-related services provider for offshore oil and natural gas wells. The company's revenue from operations totaled $833 million in the second quarter, up from $736 million in the previous quarter [1]. Despite the recent decline in the stock price, Miller Value Partners believes that Nabors Industries Ltd. offers potential upside and carries less downside risk compared to certain AI stocks.

Miller Value Partners' Deep Value Strategy has been performing well despite the market volatility and economic uncertainty. The strategy's focus on undervalued stocks and long-term fundamental value has allowed it to navigate the challenging market conditions and deliver positive returns. As the market continues to evolve, Miller Value Partners will continue to evaluate opportunities and make strategic investments based on its deep value approach.

References:
[1] https://finance.yahoo.com/news/miller-deep-value-strategy-increased-130621642.html