Investment Team

Bill Miller, CFA is the founder of Miller Value Partners, and currently serves as the Chairman and Chief Investment Officer1. Prior to Miller Value Partners, Bill and his partner, Ernie Kiehne, founded Legg Mason Capital Management and served as portfolio managers of the Legg Mason Capital Management Value Trust from its inception in 1982. Bill took over as sole manager in December 1990 and served in this role for the next 20 years.

Bill was the director of research for Legg Mason from October 1981 through June 1985 and assumed overall responsibility for Legg Mason’s equity funds management division in 1990. Prior to joining Legg Mason in 1981, he served as treasurer of the JE Baker Company, a major manufacturer of products for the steel and cement industries.

Bill earned his economics degree from Washington and Lee University, where he graduated with honors in 1972. Subsequent to graduation, he served as a military intelligence officer overseas and then pursued graduate studies in philosophy in the Ph.D program at The Johns Hopkins University. He received his CFA designation in 1986. Bill is Chairman Emeritus of the Board of Trustees of the Santa Fe Institute, where he served as Chairman from 2005 to 2009. Bill owns Jake (the world’s smartest bulldog), is an avid Ravens and Orioles fan, and collects books.

Read Bill’s latest letter and more.

Samantha McLemore, CFA currently serves as Portfolio Manager for Opportunity Equity. Samantha has worked with Bill on Opportunity Equity for 20 years. She started at Legg Mason Capital Management in 2002 as an analyst, was named Assistant Portfolio Manager of Opportunity Equity in 2008 and became co-Portfolio Manager in 2014. In 2020, Samantha founded Patient Capital Management, an investment adviser serving institutional clients, which co-operates with Miller Value Partners. Samantha graduated magna cum laude from Washington & Lee University with a BS in Business Administration and Accounting, where she was a recipient of the Lewis Kerr Johnson Scholarship and the Accounting Department Scholarship. She received her CFA designation in 2005 and is a member of the CFA Society Baltimore. Samantha also serves on the Board of Directors for the Next Generation Investing Conference, an event to raise funds for three local not-for-profit educational institutions. In 2017, Samantha was named one of Baltimore’s 40 Under 40 by the Baltimore Business Journal. Outside of work, Samantha enjoys spending time with her three children.

Read Samantha’s latest post and more.

Bill Miller IV, CFA, CMT has managed the Firm’s Income Strategy since April, 2009. Prior to working exclusively with Miller Value Partners, Bill worked at Legg Mason Capital Management since 2008 covering the specialty finance and consumer spaces with a focus on high-yielding securities. Bill earned his MBA from the Tuck School of Business at Dartmouth after working as an analyst at the management consulting firm McKinsey & Company. He graduated Phi Beta Kappa and magna cum laude from Tufts University with a degree in economics. Bill earned his CFA designation in 2011 and his CMT designation in 2018. He has appeared as a speaker in a variety of industry forums including the CMT Association Conference, the NDR conference, and CNBC’s Closing Bell and Squawk Box, among others. When Bill isn’t in the office, he likes other competitive activities including tennis and poker, and he has played in the World Series Main Event. He also enjoys spending time with his family and dogs.

Read Bill’s latest post and more.

Daniel Lysik, CFA joined Miller Value Partners in 2016 and currently serves as a senior portfolio manager. Daniel previously founded Pratt Capital LLC, serving as the sole manager of the Value and Concentrated Value strategies. He also served as SVP/Managing Director of the Fundamental Equity Team at PNC Capital Advisors from 2005-2009. Prior to PNC, he was a partner at Brown Investment Advisory, serving as a Large Cap Value Portfolio Manager and Senior Analyst. Daniel earned his CFA designation in 1998. He also has an MBA from Columbia Business School and a B.S. from Rutgers College with a Concentration in Finance.

Read Daniel’s latest post and more.

Christina Siegel Malbon, CFA joined the team in 2013 and currently serves as a Research Analyst. Christina has a BA in Economics and Business Administration from Rhodes College in Memphis, Tenn., where she studied abroad in both Belgium and Italy, focusing on international business, politics and economics.  Christina completed a Master’s in Innovation, Entrepreneurship and Management at Imperial College in London. She previously worked as a Financial Analyst intern at Dobbs Equity Partners LLC and an Investment Research Group intern at Duncan-Williams Inc. She earned her CFA designation in 2017. Outside of work, Christina enjoys playing golf, reading and spending time outside.

Read Christy’s latest post and more.

John Spallanzani joined the team in 2017, bringing 25 years of global macro and equity expertise. Previously, John worked at GFI Group first leading the ETF Trading business and later as the Chief Market Strategist. Prior to that, John worked at Sumitomo Bank rising from an assistant on the Foreign Exchange desk to Senior Vice President in charge of FX Interest Rate and Swap Trading. John received his MBA from Columbia University.

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1Miller Value Partners LLC and LMM LLC, two registered investment advisors, operate together as Miller Value Partners. Bill Miller servers as Chairman and Chief Investment Officer of both entities.