{"url":"https://nivawealth.com/firms/miller-value-partners-110632","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/110632","regulatoryAum":418183811,"crd":"110632","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"2358997","suffix":null,"lastName":"LYSIK","firstName":"DANIEL","middleName":"GERALD"},{"crd":"4390244","suffix":"IV","lastName":"MILLER","firstName":"WILLIAM","middleName":"HERBERT"}],"total":2,"loadedAt":"2026-10-10T00:20:19.761928+00:00","sourceUrl":"https://reports.adviserinfo.sec.gov/reports/CompilationReports/IA_INDVL_Feed_10_09_2026.xml.zip"},"history":[{"filedOn":"2021-04-30","regulatoryAum":3363132894,"clients":16,"employees":17,"offices":1},{"filedOn":"2022-03-30","regulatoryAum":3222717652,"clients":18,"employees":17,"offices":1},{"filedOn":"2023-06-23","regulatoryAum":203518561,"clients":13,"employees":9,"offices":2},{"filedOn":"2024-05-08","regulatoryAum":237703261,"clients":13,"employees":6,"offices":3},{"filedOn":"2025-07-15","regulatoryAum":362135856,"clients":20,"employees":6,"offices":3},{"filedOn":"2026-09-15","regulatoryAum":418183811,"clients":21,"employees":5,"offices":3}],"secFileNumber":"801-56989","legalName":"Miller Value Partners, LLC","displayName":"Miller Value Partners","slug":"miller-value-partners-110632","website":"https://millervalue.com/","logo":{"src":"https://rmkhnxnbeclogprvkfyl.supabase.co/storage/v1/object/public/firm-logos/110632/cad25b7a404381ad-r1.webp","tone":"dark","width":600,"height":200,"sourceUrl":"https://millervalue.com/","sourceLabel":"Miller Value Partners, LLC, website"},"classification":{"segment":"registered_funds","segmentLabel":"Fund management","type":"fund_manager","typeLabel":"Mutual funds & ETFs","feeDisclosure":"payment_only"},"linkedinUrl":"https://www.linkedin.com/company/millervalue/","xUrl":"https://x.com/MILLERVALUE","founded":null,"organization":"Delaware limited liability company","fiscalYearEnd":"December","headquarters":{"street":"50 S. Lemon Ave., #302","city":"Sarasota","state":"FL","stateName":"Florida","country":"United States","postalCode":"34236"},"tradeNames":[],"registration":{"secApproved":"1 December 1999","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":9697667.214285715,"staff":{"employees":5,"advisory":3,"brokerDealerReps":0,"insuranceAgents":0,"promoters":1},"aum":{"regulatory":418183811,"discretionary":403341718,"discretionaryAccounts":20,"nonDiscretionary":14842093,"nonDiscretionaryAccounts":1,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":1},"clientTypes":[{"label":"High-net-worth individuals","clients":14,"regulatoryAum":135767341},{"label":"Investment companies","clients":3,"regulatoryAum":252383467},{"label":"Pooled investment vehicles","clients":1,"regulatoryAum":7374486},{"label":"Other investment advisers","clients":2,"fewerThan5":true,"regulatoryAum":20611884},{"label":"Corporations and other businesses","clients":1,"fewerThan5":true,"regulatoryAum":2046633}],"feePrograms":[],"brochureCoverage":{"scope":"known_documents","status":"not_processed","checkedAt":null,"documents":[]},"custodians":[{"name":"J.P. Morgan Securities LLC","shortName":"J.P. Morgan","location":"New York, NY","smaAssets":23042223},{"name":"Northern Trust Corporation","shortName":"Northern Trust","location":"Chicago, IL","smaAssets":95908798}],"custodyNote":"Miller Value Partners does not have custody of client assets.","otherCustodians":[],"leadership":[{"name":"Justin Farrell","title":"Chief Operating Officer","crd":"7715899"},{"name":"Christopher Anderson","title":"Chief Compliance Officer","crd":"7677400"},{"name":"William Miller","title":"Chairman, CIO & Portfolio Manager","crd":"4390244"}],"ownership":[{"label":"William H. Miller III Living Trust Dated April 17, 2017","detail":"Member in the 10% to 25% ownership band, since September 2018."},{"label":"William H. Miller IV Revocable Trust Udt July 29, 2014","detail":"Member in the 75% or more ownership band and a control person, since May 2023."},{"label":"William Miller","detail":"Indirect owner: trustee of William H. Miller III Living Trust Dated April 17, 2017, since April 2017. Also trustee of William H. Miller IV Revocable Trust Udt July 29, 2014 and a control person, since July 2014.","parent":"William H. Miller III Living Trust Dated April 17, 2017"}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":2,"privateResidences":1},"listedOfficeAddresses":2,"foreignOffices":[],"officesByState":[{"state":"Florida","offices":1,"addresses":[{"street":"50 S. Lemon Ave., #302","city":"Sarasota","headquarters":true}]},{"state":"Maryland","offices":1,"addresses":[{"street":"Towson City Center, 1 Olympic Place","city":"Towson"}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"410-454-3130","stateRegisteredReps":1,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Performance-based fees"],"activities":["Portfolio management for individuals and/or small businesses","Portfolio management for investment companies","Portfolio management for pooled investment vehicles (other than investment companies)","Portfolio management for businesses (other than small businesses) or institutional clients","Other"],"financialPlanningClients":null,"assetMix":[{"label":"Exchange-traded equity securities","percent":100}],"privateFunds":0},"sources":{"adv1FilingDate":"15 September 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/110632/PDF/110632.pdf","brochureDate":null,"brochureUrl":null,"iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","updatedOn":"2026-10-21","holdingsUpdatedOn":"2026-10-21","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Miller Value Partners have?","answer":"Miller Value Partners has 21 clients and manages $418 million for them, as of September 2026. They include 14 high-net-worth individuals, 3 investment companies and 2 other investment advisers.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 15 September 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Miller Value Partners offer?","answer":"Miller Value Partners provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, and portfolio management for institutions.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Which custodians does Miller Value Partners use?","answer":"Miller Value Partners’ separately managed account assets are held at Northern Trust Corporation (Chicago, IL), with $95.9M and J.P. Morgan Securities LLC (New York, NY), with $23M. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 15 September 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Miller Value Partners have?","answer":"Miller Value Partners has 1 investment adviser representative registered with state securities authorities, out of 5 employees, and 3 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.","source":"Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Miller Value Partners invest in?","answer":"At the end of its last fiscal year, Miller Value Partners’ separately managed accounts held 100% exchange-traded equities.","source":"Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns Miller Value Partners?","answer":"Miller Value Partners’ direct owners are William H. Miller III Living Trust Dated April 17, 2017 (10% to 25%) and William H. Miller IV Revocable Trust Udt July 29, 2014 (75% or more).","source":"Form ADV Part 1A, Schedules A and B, filed 15 September 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Miller Value Partners get paid?","answer":"Miller Value Partners is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.","source":"Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How do I contact Miller Value Partners?","answer":"Miller Value Partners’ main office is at 50 S. Lemon Ave., #302, Sarasota, FL 34236. Its phone number is 410-454-3130. Its website is millervalue.com.","source":"Form ADV Part 1A, Item 1.F, filed 15 September 2026","sourceRef":{"doc":"adv1","section":"offices"}}],"holdings":{"url":"https://nivawealth.com/firms/miller-value-partners-110632/holdings","form":"13F-HR","periodOfReport":"2026-06-30","filedOn":"2026-08-14","filingIndexUrl":"https://www.sec.gov/Archives/edgar/data/1135778/000113577826000016/0001135778-26-000016-index.html","totalValue":423070057,"positionCount":56,"top10Share":0.5282798257689033,"top10":[{"issuer":"NABORS INDUSTRIES LTD","titleOfClass":"SHS","cusip":"G6359F137","value":37423095,"shares":445460,"shareType":"SH","priorValue":38247646,"priorShares":444430},{"issuer":"GRAY MEDIA INC","titleOfClass":"COM","cusip":"389375106","value":28756258,"shares":7243390,"shareType":"SH","priorValue":23306234,"priorShares":5370100},{"issuer":"DIREXION SHARES ETF TRUST","titleOfClass":"DAILY 500 2X ETF","cusip":"25459Y165","value":24596449,"shares":114078,"shareType":"SH"},{"issuer":"BLOOMIN BRANDS INC","titleOfClass":"COM","cusip":"094235108","value":23635208,"shares":2585909,"shareType":"SH","priorValue":10998364,"priorShares":2036734},{"issuer":"QUAD / GRAPHICS INC","titleOfClass":"COM CL A","cusip":"747301109","value":21397861,"shares":2538299,"shareType":"SH","priorValue":17523368,"priorShares":2651039},{"issuer":"LINCOLN NATL CORP IND","titleOfClass":"COM","cusip":"534187109","value":21321706,"shares":603160,"shareType":"SH","priorValue":20259495,"priorShares":570690},{"issuer":"CRESCENT ENERGY COMPANY","titleOfClass":"CL A COM","cusip":"44952J104","value":20550108,"shares":2092679,"shareType":"SH","priorValue":27042282,"priorShares":2003132},{"issuer":"CONDUENT INC","titleOfClass":"COM","cusip":"206787103","value":18959706,"shares":12986100,"shareType":"SH","priorValue":12830630,"priorShares":10023930},{"issuer":"BREAD FINANCIAL HOLDINGS INC","titleOfClass":"COM","cusip":"018581108","value":14388663,"shares":132798,"shareType":"SH","priorValue":14505968,"priorShares":193697},{"issuer":"UNITED PARCEL SVCS INC","titleOfClass":"CL B","cusip":"911312106","value":12470322,"shares":116003,"shareType":"SH","priorValue":11717845,"priorShares":119108}],"positionsListed":56,"positions":[{"issuer":"NABORS INDUSTRIES LTD","titleOfClass":"SHS","cusip":"G6359F137","value":37423095,"shares":445460,"shareType":"SH","priorValue":38247646,"priorShares":444430},{"issuer":"GRAY MEDIA INC","titleOfClass":"COM","cusip":"389375106","value":28756258,"shares":7243390,"shareType":"SH","priorValue":23306234,"priorShares":5370100},{"issuer":"DIREXION SHARES ETF TRUST","titleOfClass":"DAILY 500 2X ETF","cusip":"25459Y165","value":24596449,"shares":114078,"shareType":"SH"},{"issuer":"BLOOMIN BRANDS INC","titleOfClass":"COM","cusip":"094235108","value":23635208,"shares":2585909,"shareType":"SH","priorValue":10998364,"priorShares":2036734},{"issuer":"QUAD / GRAPHICS INC","titleOfClass":"COM CL A","cusip":"747301109","value":21397861,"shares":2538299,"shareType":"SH","priorValue":17523368,"priorShares":2651039},{"issuer":"LINCOLN NATL CORP IND","titleOfClass":"COM","cusip":"534187109","value":21321706,"shares":603160,"shareType":"SH","priorValue":20259495,"priorShares":570690},{"issuer":"CRESCENT ENERGY COMPANY","titleOfClass":"CL A COM","cusip":"44952J104","value":20550108,"shares":2092679,"shareType":"SH","priorValue":27042282,"priorShares":2003132},{"issuer":"CONDUENT INC","titleOfClass":"COM","cusip":"206787103","value":18959706,"shares":12986100,"shareType":"SH","priorValue":12830630,"priorShares":10023930},{"issuer":"BREAD FINANCIAL HOLDINGS INC","titleOfClass":"COM","cusip":"018581108","value":14388663,"shares":132798,"shareType":"SH","priorValue":14505968,"priorShares":193697},{"issuer":"UNITED PARCEL SVCS INC","titleOfClass":"CL B","cusip":"911312106","value":12470322,"shares":116003,"shareType":"SH","priorValue":11717845,"priorShares":119108},{"issuer":"DAUCH CORP","titleOfClass":"COM","cusip":"024061103","value":12368928,"shares":2282090,"shareType":"SH","priorValue":8277717,"priorShares":1395905},{"issuer":"USA TODAY CO INC","titleOfClass":"COM","cusip":"36472T109","value":11979234,"shares":1401080,"shareType":"SH","priorValue":13883424,"priorShares":1969280},{"issuer":"VIATRIS INC","titleOfClass":"COM","cusip":"92556V106","value":11642644,"shares":733164,"shareType":"SH","priorValue":9884943,"priorShares":731676},{"issuer":"CTO RLTY GROWTH INC NEW","titleOfClass":"COM","cusip":"22948Q101","value":11613249,"shares":539900,"shareType":"SH","priorValue":10281420,"priorShares":556053},{"issuer":"JELD-WEN HLDG INC","titleOfClass":"COM","cusip":"47580P103","value":10708642,"shares":7139095,"shareType":"SH","priorValue":8208657,"priorShares":6619885},{"issuer":"FOSSIL GROUP INC","titleOfClass":"COM","cusip":"34988V106","value":8873862,"shares":2143445,"shareType":"SH","priorValue":10452547,"priorShares":2425185},{"issuer":"COTY INC","titleOfClass":"COM CL A","cusip":"222070203","value":8462243,"shares":3917705,"shareType":"SH"},{"issuer":"JACKSON FINANCIAL INC","titleOfClass":"COM CL A","cusip":"46817M107","value":8205739,"shares":80142,"shareType":"SH","priorValue":8529490,"priorShares":80680},{"issuer":"ITURAN LOCATION AND CONTROL","titleOfClass":"SHS","cusip":"M6158M104","value":8157037,"shares":133700,"shareType":"SH","priorValue":9993139,"priorShares":203900},{"issuer":"CHORD ENERGY CORPORATION","titleOfClass":"COM NEW","cusip":"674215207","value":7897673,"shares":69096,"shareType":"SH","priorValue":9857339,"priorShares":69330},{"issuer":"VERIZON COMMUNICATIONS INC","titleOfClass":"COM","cusip":"92343V104","value":7113120,"shares":168000,"shareType":"SH","priorValue":8433600,"priorShares":168000},{"issuer":"MILLROSE PPTYS INC","titleOfClass":"COM CL A","cusip":"601137102","value":6890465,"shares":229300,"shareType":"SH","priorValue":5062400,"priorShares":180800},{"issuer":"UPBOUND GROUP INC","titleOfClass":"COM","cusip":"76009N100","value":5474760,"shares":258000,"shareType":"SH","priorValue":2166000,"priorShares":120000},{"issuer":"ONEMAIN HLDGS INC","titleOfClass":"COM","cusip":"68268W103","value":5056913,"shares":82941,"shareType":"SH","priorValue":4436514,"priorShares":82941},{"issuer":"CAL MAINE FOODS INC","titleOfClass":"COM NEW","cusip":"128030202","value":4994720,"shares":62000,"shareType":"SH","priorValue":4907300,"priorShares":62000},{"issuer":"ALLIANCE RESOURCE PARTNERS L","titleOfClass":"UT LTD PART","cusip":"01877R108","value":4483804,"shares":186981,"shareType":"SH","priorValue":5122328,"priorShares":185256},{"issuer":"STRATEGY INC","titleOfClass":"CL A NEW","cusip":"594972408","value":4364147,"shares":50203,"shareType":"SH","priorValue":6496838,"priorShares":52058},{"issuer":"UGI CORP NEW","titleOfClass":"COM","cusip":"902681105","value":4179340,"shares":121000,"shareType":"SH","priorValue":4406820,"priorShares":121000},{"issuer":"BUILD-A-BEAR WORKSHOP INC","titleOfClass":"COM","cusip":"120076104","value":4088486,"shares":133567,"shareType":"SH","priorValue":3884838,"priorShares":103734},{"issuer":"BRISTOL-MYERS SQUIBB CO","titleOfClass":"COM","cusip":"110122108","value":4004590,"shares":69500,"shareType":"SH","priorValue":4215175,"priorShares":69500},{"issuer":"META PLATFORMS INC","titleOfClass":"CL A","cusip":"30303M102","value":3611815,"shares":6412,"shareType":"SH"},{"issuer":"CROCS INC","titleOfClass":"COM","cusip":"227046109","value":3481188,"shares":28856,"shareType":"SH","priorValue":3200255,"priorShares":38548},{"issuer":"WESTERN ALLIANCE BANCORP","titleOfClass":"COM","cusip":"957638109","value":3432261,"shares":41755,"shareType":"SH","priorValue":3914604,"priorShares":55252},{"issuer":"ARBOR REALTY TRUST INC","titleOfClass":"COM","cusip":"038923108","value":3311620,"shares":611000,"shareType":"SH","priorValue":4656840,"priorShares":604000},{"issuer":"CITI TRENDS INC","titleOfClass":"COM","cusip":"17306X102","value":3134928,"shares":54200,"shareType":"SH","priorValue":2329013,"priorShares":53763},{"issuer":"MERCADOLIBRE INC","titleOfClass":"COM","cusip":"58733R102","value":2905932,"shares":1712,"shareType":"SH","priorValue":3829779,"priorShares":2215},{"issuer":"BOISE CASCADE CO DEL","titleOfClass":"COM","cusip":"09739D100","value":2872310,"shares":37000,"shareType":"SH","priorValue":2806450,"priorShares":37000},{"issuer":"FIGURE TECHNOLOGY SOLUTIO","titleOfClass":"COM CL A","cusip":"349381103","value":2753704,"shares":89668,"shareType":"SH","priorValue":3089756,"priorShares":91009},{"issuer":"ZIFF DAVIS INC","titleOfClass":"COM","cusip":"48123V102","value":2650027,"shares":50602,"shareType":"SH","priorValue":2855714,"priorShares":68058},{"issuer":"MAPLEBEAR INC","titleOfClass":"COM","cusip":"565394103","value":2161291,"shares":45645,"shareType":"SH","priorValue":1706565,"priorShares":45557},{"issuer":"RESIDEO TECHNOLOGIES INC","titleOfClass":"COM","cusip":"76118Y104","value":2143754,"shares":68931,"shareType":"SH","priorValue":2351677,"priorShares":69762},{"issuer":"AMERIPRISE FINL INC","titleOfClass":"COM","cusip":"03076C106","value":2031389,"shares":4428,"shareType":"SH"},{"issuer":"LYONDELLBASELL INDUSTRIES NV","titleOfClass":"SHS - A -","cusip":"N53745100","value":2000700,"shares":38000,"shareType":"SH","priorValue":3061280,"priorShares":38000},{"issuer":"BUILDERS FIRSTSOURCE INC","titleOfClass":"COM","cusip":"12008R107","value":1710410,"shares":19115,"shareType":"SH","priorValue":1555461,"priorShares":18893},{"issuer":"CARLYLE GROUP INC","titleOfClass":"COM","cusip":"14316J108","value":1684400,"shares":40000,"shareType":"SH","priorValue":1935600,"priorShares":40000},{"issuer":"SHIFT4 PMTS INC","titleOfClass":"CL A","cusip":"82452J109","value":1457498,"shares":29965,"shareType":"SH","priorValue":1313431,"priorShares":30035},{"issuer":"PERDOCEO ED CORP","titleOfClass":"COM","cusip":"71363P106","value":1289216,"shares":40288,"shareType":"SH","priorValue":1503098,"priorShares":40395},{"issuer":"AIRBNB INC","titleOfClass":"COM CL A","cusip":"009066101","value":1276595,"shares":8921,"shareType":"SH","priorValue":2037402,"priorShares":16134},{"issuer":"PINTEREST INC","titleOfClass":"CL A","cusip":"72352L106","value":1216796,"shares":57860,"shareType":"SH","priorValue":1100217,"priorShares":59990},{"issuer":"COUPANG INC","titleOfClass":"CL A","cusip":"22266T109","value":1113834,"shares":64124,"shareType":"SH","priorValue":1180529,"priorShares":62528},{"issuer":"SHARKNINJA INC","titleOfClass":"COM SHS","cusip":"G8068L108","value":903266,"shares":5932,"shareType":"SH","priorValue":611572,"priorShares":5775},{"issuer":"LITHIA MTRS INC","titleOfClass":"COM","cusip":"536797103","value":787809,"shares":2712,"shareType":"SH","priorValue":662757,"priorShares":2654},{"issuer":"VROOM INC","titleOfClass":"COM NEW","cusip":"92918V307","value":450358,"shares":58488,"shareType":"SH","priorValue":778475,"priorShares":58488},{"issuer":"UNITED NAT FOODS INC","titleOfClass":"COM","cusip":"911163103","value":214877,"shares":4705,"shareType":"SH","priorValue":236565,"priorShares":5250},{"issuer":"TECHNIPFMC PLC","titleOfClass":"COM","cusip":"G87110105","value":210171,"shares":3170,"shareType":"SH","priorValue":219142,"priorShares":3170},{"issuer":"TUTOR PERINI CORP","titleOfClass":"COM","cusip":"901109108","value":204936,"shares":2470,"shareType":"SH","priorValue":215746,"priorShares":2795}]},"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. Facts as filed; not a rating, ranking, or recommendation. Niva is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}