UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: June 30, 1999
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Check here if Amendment [ ]; Amendment Number:
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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: Bradley A. Brown
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Title: Vice President
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Phone: (804) 344-3532
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Signature, Place, and Date of Signing:
/s/ Bradley A. Brown Richmond, Virginia 8/9/99
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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).)
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[ ] 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
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Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
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Form 13F Information Table Entry Total: 39
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Form 13F Information Table Value Total (thousands): $27,931.90
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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
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FORM 13F INFORMATION TABLE
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Item 2 Item 3 Item 4 Item 5 Item 6 Item 7 Item 8
Item 1 ------ ------ ------ ------ ------ ------ ------
------ Title of CUSIP Market Amount and Type Investment Other Voting
Name of Issuer Class Number Value of Security Discretion Managers Authority
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<S> <C> <C> <C> <C> <C> <C> <C>
Aflac. Inc. cs 001055102 478,700.000 10,000.000 SH sole n/a none
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Aladdin Knowledge Systems cs M0392N101 16,351,312.000 2,043,914.000 SH sole n/a 10,000
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Approved Mortgage Corp. cs 038327102 469,046.700 197,910.000 SH sole n/a none
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Bear Stearns Companies, Inc. cs 073902108 718,220.250 15,363.000 SH sole n/a none
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CitiGroup Corp. cs 172967101 869,250.000 18,300.000 SH sole n/a none
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Commonwealth Biotechnologies, Inc. cs 202739108 1,368,468.630 216,873.000 SH sole n/a none
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Dynex Capital, Inc. cs 26817Q100 2,618,054.000 1,270,900.000 SH sole n/a none
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EEX Corp. cs 26842V207 277,600.000 40,000.000 SH sole n/a none
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EntreMed, Inc. cs 29382F103 10,897,948.160 487,168.000 SH sole n/a 10,000
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First Union Corp. cs 337358105 336,908.000 7,150.000 SH sole n/a none
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Future Shop Corp cs 360913107 114,464.000 14,600.000 SH sole n/a none
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GTE Corp. cs 362320103 264,250.000 3,500.000 SH sole n/a none
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General Electric Co. cs 369604103 1,090,450.000 9,650.000 SH sole n/a none
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Hersha Hospitality Trust, Inc. cs; REIT 427825104 1,424,209.160 253,418.000 SH sole n/a none
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Honda Motor Co. Ltd. cs; ADR 438128308 867,500.000 10,000.000 SH sole n/a none
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Humphrey Hospitality Trust cs; REIT 445467103 2,092,716.240 261,589.530 SH sole n/a none
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Independent Property Operators of America, LLC LLC Units N/A 11,238,776.500 404.600 SH sole n/a 14
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Koger Equity, Inc. cs 500228101 258,160.000 14,000.000 SH sole n/a none
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LCC International, Inc. cs 501810105 148,500.000 33,000.000 SH sole n/a none
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Lucent Technologies, Inc. cs 549463107 287,024.640 4,256.000 SH sole n/a none
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Matsushita Electric cs; ADR 576879209 396,620.000 2,000.000 SH sole n/a none
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Midwest Express Holdings cs 597911106 400,520.000 11,780.000 SH sole n/a none
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Pimpco Advisors Holding LP cs 69338P102 320,943.000 10,788.000 SH sole n/a none
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Pioneer Corp. cs; ADR 723646105 98,450.000 5,000.000 SH sole n/a none
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Sony Corp. - ADR New cs; ADR 835699307 1,103,700.000 10,000.000 SH sole n/a none
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Telebras - ADR cs; ADR 879287100 27,000.000 450,000.000 SH sole n/a none
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Telecominicaoes Brasileiras SA Telebras HLD cs; ADR 879287308 1,800,000.000 20,000.000 SH sole n/a none
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Virginia Gas Company cs 927814103 3,496,253.460 800,058.000 SH sole n/a none
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Vodafone Group PLC cs; ADR 9285T107 295,500.000 1,500.000 SH sole n/a none
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Warner Lambert Co. cs 934488107 608,256.000 8,800.000 SH sole n/a none
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World Acceptance Corp. cs 981419104 10,513,203.000 2,090,100.000 SH sole n/a none
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Franklin Virginia Tax Free Income Fund mf; cl A 354723769 216,294.528 18,824.589 SH sole n/a none
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MFS Virginia Municipal Bond Fund mf; cl A 552987505 142,530.983 12,658.169 SH sole n/a none
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Oppenheimer Strategic Income Fund mf; cl B 68380K201 49,272.549 11,097.421 SH sole n/a none
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Diamonds Trust Series I mf 252787106 (16,406,250.000) (150,000.000) SH sole n/a none
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S&P 500 Depositary Receipt mf 78462F103 (27,400,000.000) (200,000.000) SH sole n/a none
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<PAGE>
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Item 2 Item 3 Item 4 Item 5 Item 6 Item 7 Item 8
Item 1 ------ ------ ------ ------ ------ ------ ------
------ Title of CUSIP Market Amount and Type Investment Other Voting
Name of Issuer Class Number Value of Security Discretion Managers Authority
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AutoInfo, Inc. Sub. Prom. Note 10%12/31/07 cb N/A - 4,884,900.000 PRN sole n/a none
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AutoInfo, Inc. Jr. Sub. Prom. Note 10%12/31/07 cb N/A - 1,710,000.000 PRN sole n/a none
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Strips-TINT due 11/15/11 gb 912833JX9 98,048.520 204,000.000 PRN sole n/a none
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cs = common stock 27,931,900.320 14,813,502.309
REIT = real estate investment trust
ADR = American Depository Receipt
mf = mutual fund ( ) = Short Position
cb = corporate bond
mb = municipal bond
gb = government bond
mmf = money market fund
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