Miller Value Partners Deep Value Strategy’s Q3 2025 Investor Letter

Miller Value Partners, an investment management company, released its “Deep Value Strategy” third-quarter 2025 investor letter. The market rebound that began in April continued in the third quarter. Growth and momentum stocks continued to perform well, delivering double-digit returns, while the market began to broaden. Small and micro-cap value stocks achieved their best quarterly returns since Q4 2023. In the quarter, the Deep Value strategy appreciated by +26.50% compared to +6.29% return for the S&P 1500 Value Index and +11.71% return for the S&P 600 Value Index. Year-to-date, the...