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, 2000
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Check here if Amendment [ X ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ X ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Mills Value Adviser, Inc.
Address: 707 East Main Street
Richmond, Virginia 23219
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, Secretary/Treasurer
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Phone: (804) 344-3532
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Signature, Place, and Date of Signing:
/s/ Bradley A. Brown Richmond, Virginia 3/31/00
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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).)
[ ] 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: 47
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Form 13F Information Table Value Total (thousands):
$168,564.11
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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>
<TABLE>
<CAPTION>
Item 1 Item 2 Item 3 Item 4
------ ------ ------ ------
Title of CUSIP Fair Market Price per
Name of Issuer Class Number Value Share
-------------- -------- ------ ----------- ---------
<S> <C> <C> <C> <C>
Aladdin Knowledge Systems cs M0392N101 49,003,057.180 23.870
Approved Mortgage Corp. cs 038327102 219,195.200 1.120
Biotech Holders Trust cs 09067d201 16,950,000.000 169.500
Capital One Financial Corp. cs 14040h105 161,078.400 47.940
CitiGroup Corp. cs 172967101 1,173,452.000 59.870
Citrix Systems, Inc. cs 177376100 463,330.000 66.190
Commonwealth Biotechnologies, Inc. cs 202739108 1,861,210.260 9.620
Community Financial Corp. cs 20365l100 96,200.000 9.620
Doral Financial cs 25811p100 1,119,000.000 11.190
Dow Chemical Co. cs 260543103 148,200.000 114.000
ECI Telecom Ltd. cs 268258100 3,230,240.000 31.060
EntreMed, Inc. cs 29382F103 16,772,255.970 59.190
Federal National Mortgage Assoc. cs 313586109 152,712.000 56.560
First Union Corp. cs 337358105 720,787.500 37.250
GTE Corp. cs 362320103 248,500.000 71.000
General Electric Co. cs 369604103 1,470,609.000 155.620
H & Q Life Sciences cs 404053100 382,800.000 29.000
Hersha Hospitality Trust, Inc. cs; REIT 427825104 90,535.000 5.000
Honda Motor Co. Ltd. cs; ADR 438128308 812,500.000 81.250
Humphrey Hospitality Trust cs; REIT 445467103 428,595.549 6.620
Independent Property Operators of America, LLC LLC Units N/A 10,849,891.500 27,777.500
Israel Land Development Ltd cs 32063l100 203,000.000 29.000
Koger Equity, Inc. cs 500228101 241,500.000 17.250
LCC International, Inc. cs 501810105 1,303,500.000 39.500
LSI Logic Corp. cs 502161102 232,384.000 72.620
Lucent Technologies, Inc. cs 549463107 521,700.000 75.000
Matsushita Electric cs; ADR 576879209 606,000.000 303.000
Microsoft Corp. cs 594918104 181,254.000 106.620
Midwest Express Holdings cs 597911106 276,183.600 25.620
Pfizer, Inc. cs 717081103 2,193,600.000 36.560
Philip Morris Companies, Inc. cs 718154107 424,512.000 21.120
Shire Pharmaceuticals-ADR cs 82481r06 5,201,875.000 51.250
Sony Corp. - ADR New cs; ADR 835699307 1,680,720.000 280.120
Telecominicaoes Brasileiras SA Telebras HLD cs; ADR 879287308 30,199,000.000 149.500
Viacom cs 925524100 101,536.000 53.440
Virginia Gas Company cs 927814103 2,048,148.480 2.560
Vodafone Group PLC cs; ADR 9285T107 416,700.000 55.560
World Acceptance Corp. cs 981419104 14,485,446.000 6.210
AIM Invt Fds Global Telecommunications Cl mf; cl A 00141t403 278,248.876 37.660
AIM Invt Fds Global Telecommunications Cl mf; cl B 00141t502 321,922.280 39.410
American Mutual Fund, Inc. mf 27681105 169,843.329 23.170
Franklin Virginia Tax Free Income Fund mf; cl A 354723769 211,951.000 11.050
Growth Fund of America, Inc. mf 399874106 170,526.751 34.280
MFS Virginia Municipal Bond Fund-CL A mf; cl A 552987505 141,750.335 10.910
Oppenheimer Quest Global mf 683806200 119,173.831 17.530
Oppenheimer Quest Opportunity-CL A mf 6.838E+209 108,071.106 33.800
Oppenheimer Total Return Fund, Inc.-CL B mf 683808208 103,316.512 14.140
Smallcap World Fund, Inc. mf 831681101 173,941.385 45.430
Strips-TINT due 11/15/11 gb 912833JX9 94,158.240
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168,564,112.284
<CAPTION>
Item 5 Item 6 Item 7 Item 8
------ ------ ------ ------
Shares of
Principal Investment Voting
Amount Discretion Managers Authority
------------- ---------- -------- ---------
Aladdin Knowledge Systems 2,052,914.000 sole n/a none
Approved Mortgage Corp. 195,710.000 sole n/a none
Biotech Holders Trust 100,000.000 sole n/a none
Capital One Financial Corp. 3,360.000 sole n/a none
CitiGroup Corp. 19,600.000 sole n/a none
Citrix Systems, Inc. 7,000.000 sole n/a none
Commonwealth Biotechnologies, Inc. 193,473.000 sole n/a none
Community Financial Corp. 10,000.000 sole n/a none
Doral Financial 100,000.000 sole n/a none
Dow Chemical Co. 1,300.000 sole n/a none
ECI Telecom Ltd. 104,000.000 sole n/a none
EntreMed, Inc. 283,363.000 sole n/a 10,000
Federal National Mortgage Assoc. 2,700.000 sole n/a none
First Union Corp. 19,350.000 sole n/a none
GTE Corp. 3,500.000 sole n/a none
General Electric Co. 9,450.000 sole n/a none
H & Q Life Sciences 13,200.000 sole n/a none
Hersha Hospitality Trust, Inc. 18,107.000 sole n/a none
Honda Motor Co. Ltd. 10,000.000 sole n/a none
Humphrey Hospitality Trust 64,742.530 sole n/a none
Independent Property Operators of America, LLC 390.600 sole n/a none
Israel Land Development Ltd 7,000.000 sole n/a none
Koger Equity, Inc. 14,000.000 sole n/a none
LCC International, Inc. 33,000.000 sole n/a none
LSI Logic Corp. 3,200.000 sole n/a none
Lucent Technologies, Inc. 6,956.000 sole n/a none
Matsushita Electric 2,000.000 sole n/a none
Microsoft Corp. 1,700.000 sole n/a none
Midwest Express Holdings 10,780.000 sole n/a none
Pfizer, Inc. 60,000.000 sole n/a none
Philip Morris Companies, Inc. 20,100.000 sole n/a none
Shire Pharmaceuticals-ADR 101,500.000 sole n/a none
Sony Corp. - ADR New 6,000.000 sole n/a none
Telecominicaoes Brasileiras SA Telebras HLD 202,000.000 sole n/a none
Viacom 1,900.000 sole n/a none
Virginia Gas Company 800,058.000 sole n/a none
Vodafone Group PLC 7,500.000 sole n/a none
World Acceptance Corp. 2,332,600.000 sole n/a none
AIM Invt Fds Global Telecommunications Cl 7,388.446 sole n/a none
AIM Invt Fds Global Telecommunications Cl 8,168.543 sole n/a none
American Mutual Fund, Inc. 7,330.312 sole n/a none
Franklin Virginia Tax Free Income Fund 19,181.086 sole n/a none
Growth Fund of America, Inc. 4,974.526 sole n/a none
MFS Virginia Municipal Bond Fund-CL A 12,992.698 sole n/a none
Oppenheimer Quest Global 6,798.279 sole n/a none
Oppenheimer Quest Opportunity-CL A 3,197.370 sole n/a none
Oppenheimer Total Return Fund, Inc.-CL B 7,306.684 sole n/a none
Smallcap World Fund, Inc. 3,828.778 sole n/a none
Strips-TINT due 11/15/11 sole n/a none
</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
