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Miller Value Partners
At Miller Value Partners, we think and invest differently. We believe that the best investment opportunities arise from understandable human behavioral...
Overview
At Miller Value Partners, we think and invest differently. We believe that the best investment opportunities arise from understandable human behavioral tendencies. Valuing businesses and patiently owning them until they reach fair value is at the core of what we seek to do. We use research from economics, science and psychology to help us understand the market as a complex adaptive system. We offer distinct, flexible, and unconventional investment strategies. Bill Miller IV, CFA is the owner, Chairman and Chief Investment Officer of Miller Value Partners. For informational purposes only. Not investment advice. Holdings subject to change. Visit our LMM LLC page for past posts.
General information
Firm type
RIA
Year founded
2016
Location
Region
North America
Country
United States
City
Sarasota
Corporate office
Baltimore, MD, United States
Principals
Bill Miller
Chairman and Chief Investment Officer
Samantha S. McLemore
Portfolio Manager
Sector focus
Frequently asked questions
Who runs investment decisions at Miller Value Partners?
Chairman and CIO Bill Miller sets the investment philosophy and leads portfolio decisions. Portfolio manager Samantha S. McLemore also contributes to stock selection and strategy implementation. The small team allows Miller to remain the central decision-maker.
How does Miller Value Partners source deal flow?
The firm relies on bottom-up, fundamental research. Miller's network, built over decades at Legg Mason, provides access to management teams and ideas. The firm does not use systematic screens, but instead focuses on a few high-conviction names.
Does Miller Value Partners participate in fund commitments or only direct deals?
The firm primarily buys publicly traded equities. It does not engage in private equity or venture capital commitments. Investment vehicles are liquid, long-only or long-short mutual funds and separate accounts.
Which sectors does Miller Value Partners explicitly avoid?
The firm has no formal exclusion list. Its value approach tends to avoid high-growth, low-cash-flow sectors. Historically, Miller has been known for contrarian bets in financials and technology, and has avoided most speculative areas.
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