Miller Value Partners Income Strategy’s Q1 2022 Investor Letter

Miller Value Partners, an investment management firm, published its “Income Strategy” first quarter 2022 investor letter – a copy of which can be downloaded here. The Miller Income Strategy returned -10.08% for the first quarter, while the unmanaged high-yield benchmark was down -4.51%. Most asset classes declined, and smaller companies, which make up a large share of the Income Strategy, generally fared the worst. This is apparent in the Russell 2000’s -7.5% drop against the larger-cap Russell 1000’s -5.1% decline. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.