Miller Value Deep Value Strategy Established a Position in Bloomin’ Brands (BLMN) Amid Multi-Year Transformation

Miller Value Partners, an investment management company, released its “Deep Value Strategy” first-quarter 2026 investor letter. A copy of the letter can be downloaded here. The Strategy started the year on a strong note, returning +8.39% (net of fees) compared to the S&P 1500 Value Index’s +0.19% and the S&P 600 Value Index’s +4.32% returns. The strategy gained from ongoing rotation to small-cap value stocks and investments made in the energy sector. The year began with broadening market trends favoring lower-valued, smaller-capitalization equities, though this Value outperformance...