UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 1999
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Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Mills Value Adviser, Inc.
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Address: 707 East Main Street
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Richmond, Virginia 23219
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Form 13F File Number: 28- 7718
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The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Todd J. Peters
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Title: Chief Operating Officer
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Phone: (804) 344-3810
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Signature, Place, and Date of Signing:
/s/ Todd J. Peters Richmond, Virginia 5-6-99
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[Signature] [City, State] [Date]
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report, and
all holdings are reported by other reporting manager(s).)
<PAGE>
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported
by other reporting manager(s).)
List of Other Managers Reporting for this Manager: NONE
<PAGE>
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
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Form 13F Information Table Entry Total: 41
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Form 13F Information Table Value Total: $121,800.65
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(thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
NONE
<PAGE>
<TABLE>
<CAPTION>
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Item 1 Item 2 Item 3 Item 4 Item 5
------ ------ ------ ------ ------
Title Fair Amount and
Name of Issuer of CUSIP Market Type of
Class Number Value Security
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<S> <C> <C> <C> <C>
Adolph Coors Brewing cs; cl B 217016104 207,900.000 3,850.000 SH
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Aladdin Knowledge Systems cs M0392N101 24,630,970.280 2,107,012.000 SH
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Approved Mortgage Corp. cs 038327102 593,730.000 197,910.000 SH
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Bear Stearns Companies, Inc. cs 073902108 738,010.660 16,514.000 SH
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Capital One Financial Corp. cs 14040H105 494,525.000 3,275.000 SH
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CitiGroup Corp. cs 172967101 779,214.000 12,200.000 SH
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Commonwealth Biotechnologies, Inc. cs 202739108 2,159,016.000 269,877.000 SH
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Dynex Capital, Inc. cs 26817Q100 567,334.000 171,400.000 SH
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EntreMed, Inc. cs 29382F103 11,767,704.960 557,183.000 SH
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Exxon, Corp. cs 302290101 230,590.080 3,268.000 SH
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First Union Corp. cs 337358105 446,437.760 8,354.000 SH
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Future Shop Corp cs 360913107 121,034.000 14,600.000 SH
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GTE Corp. cs 362320103 211,750.000 3,500.000 SH
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General Electric Co. cs 369604103 1,067,483.000 9,650.000 SH
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Hersha Hospitality Trust, Inc. cs; REIT 427825104 1,725,000.000 300,000.000 SH
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Honda Motor Co. Ltd. cs; ADR 438128308 890,000.000 10,000.000 SH
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Humphrey Hospitality Trust cs; REIT 445467103 3,118,799.888 378,036.350 SH
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Independent Property Operators of America, LLC LLC Units N/A 11,849,881.500 426.600 SH
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Koger Equity, Inc. cs 500228101 427,392.000 31,800.000 SH
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Lucent Technologies, Inc. cs 549463107 257,522.500 2,390.000 SH
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Matsushita Electric cs; ADR 576879209 386,740.000 2,000.000 SH
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Motorola, Inc. cs 620076109 556,700.000 7,600.000 SH
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Pimpco Advisors Holding LP cs 69338P102 339,174.720 10,788.000 SH
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Sony Corp. - ADR New cs; ADR 835699307 913,100.000 10,000.000 SH
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Telecominicaoes Brasileiras SA Telebras HLD cs; ADR 879287308 40,310,000.000 500,000.000 SH
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Virginia Gas Company cs 927814103 2,000,145.000 800,058.000 SH
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Vodafone Group PLC cs; ADR 9285T107 281,625.000 1,500.000 SH
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Wells Fargo Co. cs 949746101 295,205.200 8,420.000 SH
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World Acceptance Corp. cs 981419104 11,704,452.000 2,179,600.000 SH
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Franklin Virginia Tax Free Income Fund mf; cl A 354723769 221,778.983 18,715.526 SH
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MFS Virginia Municipal Bond Fund mf; cl A 552987505 145,666.443 12,557.452 SH
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Oppenheimer Strategic Income Fund mf; cl B 68380K201 49,073.035 10,880.939 SH
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AutoInfo, Inc. Sub. Prom. Note 10%12/31/07 cb N/A - 4,560,000.000 PRN
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AutoInfo, Inc. Jr. Sub. Prom. Note 10%12/31/07 cb N/A - 1,710,000.000 PRN
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VA Small Bus Fing Auth Rev-Commwlth Biotech cb 928104HN1 100,856.900 100,000.000 SH
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Suffolk VA Redev & Hsg Auth Mfhr Rfdg mb 864817BC4 108,037.330 105,000.000 SH
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VA Beach VA Dev Auth Rev Rfdg mb 927743JA3 56,237.720 55,000.000 SH
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Strips-TINT due 11/15/11 gb 912833JX9 98,048.520 204,000.000 SH
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CTS Government Cash Series mmf 147551204 70,959.070 70,959.070 SH
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CTS Prime Cash Series mmf 147551105 1,615,133.690 1,615,133.690 SH
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Federated Short-term U.S. Govt Secs Fund mmf 31428M100 263,423.230 263,423.230 SH
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121,800,652.469 16,346,881.857
</TABLE>
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Item 1 Item 6 Item 7 Item 8
------ ------ ------ --------
Name of Issuer Investment Other Voting
Discretion Managers Authority
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Adolph Coors Brewing sole n/a none
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Aladdin Knowledge Systems sole n/a none
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Approved Mortgage Corp. sole n/a none
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Bear Stearns Companies, Inc. sole n/a none
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Capital One Financial Corp. sole n/a none
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CitiGroup Corp. sole n/a none
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Commonwealth Biotechnologies, Inc. sole n/a none
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Dynex Capital, Inc. sole n/a none
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EntreMed, Inc. sole n/a none
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Exxon, Corp. sole n/a none
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First Union Corp. sole n/a none
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Future Shop Corp sole n/a none
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GTE Corp. sole n/a none
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General Electric Co. sole n/a none
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Hersha Hospitality Trust, Inc. sole n/a none
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Honda Motor Co. Ltd. sole n/a none
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Humphrey Hospitality Trust sole n/a none
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Independent Property Operators of America, LLC sole n/a none
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Koger Equity, Inc. sole n/a none
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Lucent Technologies, Inc. sole n/a none
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Matsushita Electric sole n/a none
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Motorola, Inc. sole n/a none
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Pimpco Advisors Holding LP sole n/a none
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Sony Corp. - ADR New sole n/a none
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Telecominicaoes Brasileiras SA Telebras HLD sole n/a none
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Virginia Gas Company sole n/a none
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Vodafone Group PLC sole n/a none
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Wells Fargo Co. sole n/a none
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World Acceptance Corp. sole n/a none
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Franklin Virginia Tax Free Income Fund sole n/a none
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MFS Virginia Municipal Bond Fund sole n/a none
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Oppenheimer Strategic Income Fund sole n/a none
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AutoInfo, Inc. Sub. Prom. Note 10%12/31/07 sole n/a none
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AutoInfo, Inc. Jr. Sub. Prom. Note 10%12/31/07 sole n/a none
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VA Small Bus Fing Auth Rev-Commwlth Biotech sole n/a none
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Suffolk VA Redev & Hsg Auth Mfhr Rfdg sole n/a none
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VA Beach VA Dev Auth Rev Rfdg sole n/a none
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Strips-TINT due 11/15/11 sole n/a none
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CTS Government Cash Series sole n/a none
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CTS Prime Cash Series sole n/a none
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Federated Short-term U.S. Govt Secs Fund sole n/a none
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cs = common stock
REIT = real estate investment trust
ADR = American Depository Receipt
mf = mutual fund
cb = corporate bond
mb = municipal bond
gb = government bond
mmf = money market fund
