Скачать или смотреть FOUR: A Value Investor’s Case for Shi:4 Payments (update May 2025)

Investment Case Updated as of May 2, 2025. Shift4 is more than just a payment processor — it's a rapidly expanding tech platform serving over 200,000 businesses in the hospitality and entertainment industries. With over $260 billion in payments processed annually, Shift4 is scaling up, expanding internationally (starting with Europe), and making big moves in crypto philanthropy through its subsidiary, TheGivingBlock.

Despite management’s ability to grow revenues over 16 years, FOUR currently trades at a discount to peers — creating what we view as a compelling opportunity given their strong customer acquisition economics, margin expansion potential, and global runway. If you’re interested in payment tech, vertical software, or emerging growth stories with operating leverage, this one’s worth a closer look. Read our full investment case:
https://millervaluefunds.com/shift4-p...

In our What We Own/Why We Own It series, we share insights into our investment case for companies we own in MVPA - our Miller Value Partners Appreciation ETF. Visit millervaluefunds.com/insights for our full investment cases and more.

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Carefully consider the Fund’s investment objectives, risk factors, charges, and expenses before investing. This and additional information can be found in the Fund’s Prospectus and Summary Prospectus, which may be obtained by visiting https://etf.millervaluefunds.com/stat...
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