Miller Value Partners Deep Value Strategy’s Q1 2024 Investor Letter

Miller Value Partners, an investment management company, released its “Deep Value Strategy” first-quarter 2024 investor letter. Equity markets continued to perform strongly in early 2024, following a successful 2023. The S&P 500 rose by over 10% in Q1. In the first quarter, Strategy returned 1.78% (net of fees) trailing the S&P 1500 Value Index’s 7.59% return and ahead of the S&P 600 Value Index, which was slightly positive. During the first two months, lower valuation and smaller cap stocks lagged the overall equity market. However, in March they took the lead. The Deep Value Select strategy had a weak performance in January and February, but it outperformed the Value and Small Cap indexes in March. In addition, please check the fund’s top five holdings to know its best picks in 2024.

A copy of Miller Value Partners Deep Value Strategy’s Q1 2024 investor letter can be downloaded below.