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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q4 | Jan 14, 2026 | Miller Value Partners Deep Value Strategies | 0.0% | 0.0% | BTC-USD, STGY | Bitcoin, Economic Growth, Fed, liquidity, monetary policy, rates, small caps, value | The Fed has shifted from quantitative tightening to asset purchases, representing a significant change in monetary policy. The Fed is expected to purchase at least $40 billion in securities in January, reversing years of draining $50 billion per month from the system. This shift is more akin to September 2019 when policymakers reversed course from removing liquidity to firing up the printing presses. The Fed has cut rates six times since the peak range of 5.25%-5.50%, with the latest cut on December 10, 2025. Despite headlines suggesting a pause, the manager argues the Fed has room to act given inflation at 1.85% is below the 2% target. The yield curve spread between two-year and ten-year notes ended 2025 at its highest level in almost four years. The strategies continue to favor small- and mid-cap value names that are more sensitive to marginal economic activity and trade at large valuation discounts to the market as a whole. These positions are expected to benefit from expanding liquidity, economic acceleration, and a strengthening labor market. Bitcoin is mentioned as a technology that historically has often been a major beneficiary of printing press engagement. The fund has exposure to Bitcoin via an investment in Strategy Inc. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| No pitches found. | |||||||||
| Manager Name | Fund Name | Fund AUM | Invested Value | Portfolio Weight | Shares Owned | Shares Bought / Sold During Quarter | % Bought / Sold During Quarter | % of Shares Outstanding Owned |
|---|---|---|---|---|---|---|---|---|
| No investor data available. | ||||||||