Miller Value Partners

Estabished in 2015, Miller Value Partners (MVP), previously known as LMM LLC, is a Maryland-based hedge fund manager as a joint venture between Bill Miller and Legg Mason, Inc. In August 2016, the firm announced that Bill Miller agreed to buy out Legg Mason’s stake. The majority of the firm is owned directly by Bill Miller with the remaining interests owned by members of the Miller family. MVP manages distinct strategies with the common approach of buying and holding securities that are believed to be undervalued. It offers three investment strategies: opportunity strategy, income opportunity strategy, and value strategy, to mutual fund investors and separate account clients. It also provides additional investment strategies through private funds that seek to outperform their benchmarks over the long term. All MVP's strategies are most often concentrated and have potential exposure to smaller companies that can create more volatility over the shorter term. The firm also provides discretionary investment management services to mutual funds, comparably regulated foreign investment funds, institutions, and individual private accounts.