Miller Value Partners
Our archive holds 8 letters from Miller Value Partners, behind 4 investment theses. Every quote below is copied verbatim from the letter it came from.
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5 strategies
Miller Value Partners publishes a letter per strategy. Each one has its own page — what it holds, what it bought, what it wrote.
- Miller Value Funds - Masterbrand2
Value
- Miller Value1
Value · 4 companies
- Miller Value Partners Small & Mid Caps Strategy1
Mid-cap Value
- Miller Value Pinterest1
Value
- Miller Value Ziff Davis1
Value
Also filed under Miller Value Partners.
Theses · 4
- March 2026
MercadoLibre is the dominant Latin American e-commerce and fintech platform with strong growth, expanding advertising, and attractive valuation, reinvesting to deepen its moat and drive long-term earnings power.
Read the full thesis - June 2025
MasterBrand is the largest kitchen and bath cabinet manufacturer in North America, boasting strong growth potential and market leadership with a diverse product range and an efficient manufacturing process.
Read the full thesis - December 2024
Pinterest is a differentiated social media platform with significant growth potential, focusing on enhancing shopability and lower-funnel ads, resulting in increasing user engagement and promising early results in its capital allocation strategy.
Read the full thesis - December 2024
Ziff Davis trades at crisis-level valuation multiples despite strong profitability, disciplined capital allocation, and high-margin recurring revenues—making it a compelling value play with upside from M&A and buybacks.
Read the full thesis
Letter archive · 8
2026
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