MILLER INVESTMENT MANAGEMENT, LP

Thesis

Miller Investment Management, LP (MIM), founded in 1998 and headquartered in West Conshohocken, Pennsylvania, is an SEC-registered investment adviser focused on building and preserving client assets through a long-term, disciplined, and customized approach. MIM employs both fundamental and technical security analysis, utilizing a variety of information sources and an Investment Strategy Committee (ISC). The firm manages global multi-asset-class public securities portfolios and has been involved in private equity growth capital investments since 2007, with a particular focus on consumer-facing businesses, though they opportunistically invest across numerous industries. Their investment process involves selecting vehicles based on fund holdings, manager track record, and fees, employing a top-down, thematic approach that often takes a contrarian stance by investing in undervalued asset classes. MIM aims to generate exceptional performance through flexible asset allocation without sacrificing liquidity. The firm's AUM estimates vary, with one source indicating $7.1 billion and another $1.77 billion in discretionary AUM as of March 31, 2026. They also reported $1.006 billion in managed 13F securities. Information on typical check size per investment deal is not explicitly detailed.