UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: September 30, 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: 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 November 12, 1999
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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: 38
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Form 13F Information Table Value Total
(thousands): $73,931.90
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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
<PAGE>
FORM 13F INFORMATION TABLE
<TABLE>
<CAPTION>
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
<S> <C> <C> <C> <C> <C> <C> <C>
Aflac. Inc. cs 001055102 418,750.000 10,000.000 SH sole n/a none
Aladdin Knowledge Systems cs M0392N101 16,137,271.330 2,032,914.000 SH sole n/a 10,000
Approved Mortgage Corp. cs 038327102 148,129.800 189,910.000 SH sole n/a none
Bear Stearns Companies, Inc. cs 073902108 590,553.720 15,363.000 SH sole n/a none
CitiGroup Corp. cs 172967101 805,200.000 18,300.000 SH sole n/a none
Commonwealth Biotechnologies, Inc. cs 202739108 870,628.500 193,473.000 SH sole n/a none
EntreMed, Inc. cs 29382F103 15,315,804.500 712,363.000 SH sole n/a 10,000
First Union Corp. cs 337358105 254,683.000 7,150.000 SH sole n/a none
Future Shop Corp cs 360913107 94,462.000 14,600.000 SH sole n/a none
GTE Corp. cs 362320103 269,045.000 3,500.000 SH sole n/a none
General Electric Co. cs 369604103 1,120,392.000 9,450.000 SH sole n/a none
Hersha Hospitality Trust, Inc. cs; REIT 427825104 1,085,535.000 217,107.000 SH sole n/a none
Honda Motor Co. Ltd. cs; ADR 438128308 818,100.000 10,000.000 SH sole n/a none
Humphrey Hospitality Trust cs; REIT 445467103 1,587,365.519 230,889.530 SH sole n/a none
Independent Property Operators of America, LLC LLC Units N/A 10,849,891.500 390.600 SH sole n/a 14
Koger Equity, Inc. cs 500228101 224,000.000 14,000.000 SH sole n/a none
LCC International, Inc. cs 501810105 199,980.000 33,000.000 SH sole n/a none
Lucent Technologies, Inc. cs 549463107 276,086.720 4,256.000 SH sole n/a none
Matsushita Electric cs; ADR 576879209 418,000.000 2,000.000 SH sole n/a none
Midwest Express Holdings cs 597911106 308,518.200 11,780.000 SH sole n/a none
Pimco Advisors Holding LP cs 69338P102 339,822.000 10,788.000 SH sole n/a none
Sony Corp. - ADR New cs; ADR 835699307 1,500,600.000 10,000.000 SH sole n/a none
Telecominicaoes Brasileiras SA Telebras HLD cs; ADR 879287308 1,485,000.000 20,000.000 SH sole n/a none
Virginia Gas Company cs 927814103 3,152,228.520 800,058.000 SH sole n/a none
Vodafone Group PLC cs; ADR 9285T107 356,625.000 1,500.000 SH sole n/a none
Warner Lambert Co. cs 934488107 584,056.000 8,800.000 SH sole n/a none
World Acceptance Corp. cs 981419104 10,957,800.000 2,087,200.000 SH sole n/a none
Franklin Virginia Tax Free Income Fund mf; cl A 354723769 211,925.060 18,938.790 SH sole n/a none
MFS Virginia Municipal Bond Fund mf; cl A 552987505 140,534.954 12,764.301 SH sole n/a none
Oppenheimer Strategic Income Fund mf; cl B 68380K201 48,560.915 11,189.151 SH sole n/a none
AutoInfo, Inc. Sub. Prom. Note 10%12/31/07 cb N/A - 4,560,000.000 PRN sole n/a none
AutoInfo, Inc. Jr. Sub. Prom. Note 10%12/31/07 cb N/A - 1,710,000.000 PRN sole n/a none
Strips-TINT due 11/15/11 gb 912833JX9 94,158.240 204,000.000 SH sole n/a none
EntreMed, Inc. Series 1 Warrants wr N/A 1,903,493.970 127,777.000 SH sole n/a none
EntreMed, Inc. Series 2 Warrants wr N/A 1,362,741.700 127,777.000 SH sole n/a none
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73,929,943.148 13,441,238.372
</TABLE>
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
wr = warrants
