- Miller Value Partners is a value investor. It values businesses, and not just stocks, and invests in them for the long term.
- For the fourth quarter, the Deep Value strategy was up 64.9% (net), significantly ahead of the overall market and more than 2x the S&P 1500 Pure Value Index. For the year was up in excess of 70%, well ahead of the Value Indices and the overall market.
- We have recently increased our position size in Brighthouse Financial, one of the of the largest annuity and life insurance companies in the U.S. We would like to highlight a recent addition to the strategy, Gannett.
- While the Deep Value Strategy had a strong year in 2020, our current holdings valuation levels are still not far from their absolute historical lows.
For further details see:
Miller Value Partners Deep Value Strategies Q4 2020 Letter