Miller Value Partners Deep Value Strategy’s Q1 2025 Investor Letter

Miller Value Partners, an investment management company, released its “Deep Value Strategy” first-quarter 2025 investor letter. The year 2025 has been unpredictable. After setting new highs in mid-February, the market saw a double-digit decline towards the end of the quarter, capping off a strong start to the year. As the administration implemented global tariffs, sentiment swiftly deteriorated due to growing economic uncertainty. In the quarter, the Deep Value strategy had a -12.8% drawdown compared to -.2% return for the S&P 1500 Value Index and -9.9% return for the S&P 600 Value...