Miller Investment Management, LP

CIK 1407382 · View on SEC EDGAR ↗

Portfolio value
$1.1B
#2,309 of 9,443 by 13F value · top 24.5%
Positions
83
As of
June 30, 2026

Portfolio value QoQ: +8.7% 13F does not disclose cash

Top 10 holdings weight
74.62%
Top 25 holdings weight
93.86%
Positions above 1%
20
Effective number of positions
12.0

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 1.73% Est. buys $18,177,593 · sells $24,384,367

Median holding: 7.0 quarters Tracked Q4 2024–Q2 2026 · 73.5% still held

New positions
3
Increased
18
Decreased
13
Closed
6
On this page

Sector breakdown

Communication Services
6.2%
Consumer Discretionary
5.7%
Industrials
2.3%
Technology
1.9%
Health Care
1.7%
Retail
1.4%
Financials
0.8%
Energy
0.2%
Logistics & Transportation
0.1%
Consumer products
0.1%
Financial Services
0.1%
Packaging
0.1%
Consumer Staples
0.1%
Other/Unmapped
79.2%

Full portfolio 83 positions

Type Streak 8Q trend
SPY SPY $222,336,585 20.31% 297,731 $32,295,526 Up ×2
BILS $121,741,693 11.12% 1,225,012 $-3,605,907 Down ×1
VGSH Vanguard Short-Term Treasury ETF $89,502,463 8.18% 1,537,843 $-8,488,463 Down ×1
BRKB $79,434,911 7.26% 158,746 $5,494,351 Up ×2
VGIT Vanguard Intermediate-Term Treasury ETF $76,703,844 7.01% 1,300,506 $-2,268,746 Down ×1
EFA $67,474,007 6.16% 649,538 $4,142,722 Down ×6
SMH SMH $62,657,172 5.72% 95,530 $26,269,828 Up ×1
META Meta Platforms, Inc. - Class A Common Stock $33,785,008 3.09% 59,978 $674,701 Up ×2
GOOGL Alphabet Inc. - Class A Common Stock $32,017,493 2.92% 89,592 $6,722,853 Up ×2
VV $31,124,199 2.84% 90,501 $5,200,755 Up ×3
Unknown issuer (CUSIP: 46434g822) $30,619,142 2.80% 328,285 $3,340,462 Up ×1
XLV XLV $30,523,169 2.79% 192,381 $774,387 Down ×1
IWR $21,123,191 1.93% 191,472 $2,816,921 Up ×1
XLC XLC $18,420,146 1.68% 171,942 $-295,461 Up ×1
VEA $17,360,561 1.59% 243,657 $4,255,496 Up ×4
VBIL Vanguard 0-3 Month Treasury Bill ETF $16,091,838 1.47% 212,630 $1,272,003 Up ×3
MSFT Microsoft Corporation - Common Stock $14,112,466 1.29% 37,833 $778,202 Up ×4
AMZN Amazon.com, Inc. - Common Stock $12,795,521 1.17% 53,686 $1,863,637 Up ×4
URI United Rentals, Inc. Common Stock $12,763,139 1.17% 11,266 $4,233,887 Down ×1
Unknown issuer (CUSIP: 92189f692) $10,962,994 1.00% 100,256 $-2,950,485 Down ×3
BBH VanEck Biotech ETF $7,768,949 0.71% 38,226 $443,158 Down ×1
CAH Cardinal Health, Inc. Common Stock $5,595,251 0.51% 23,553 $618,267
IBB IBB $4,762,358 0.44% 25,040 $-1,163,095 Down ×6
VTI $3,859,147 0.35% 10,429 $513,420
VIG $3,855,250 0.35% 16,293 $351,277
JPM JP Morgan Chase & Co. Common Stock $3,734,835 0.34% 11,410 $378,469
JNJ Johnson & Johnson Common Stock $3,263,261 0.30% 12,849 $122,451
PNC PNC Financial Services Group, Inc. (The) Common Stock $3,097,448 0.28% 12,580 $479,676
DIA $2,986,504 0.27% 5,717 $338,447
AAPL Apple Inc. - Common Stock $2,666,452 0.24% 9,215 $320,163 Down ×6
DE Deere & Company Common Stock $2,654,671 0.24% 4,185 $297,260
EMR Emerson Electric Company Common Stock $2,371,996 0.22% 16,570 $-113,453 Down ×1
CNC Centene Corporation Common Stock $2,169,301 0.20% 33,795 $1,030,113 Down ×2
ORCL Oracle Corporation Common Stock $2,135,380 0.20% 14,571 $285,913 Up ×2
RTX RTX Corporation Common Stock $1,963,706 0.18% 10,350 $-32,809
AMGN Amgen Inc. - Common Stock $1,846,088 0.17% 5,098 $52,357
IWM $1,844,162 0.17% 6,138 $321,938
WFC Wells Fargo & Company Common Stock $1,681,063 0.15% 20,342 $61,636
GSPY $1,647,479 0.15% 40,578 $211,720
DGX Quest Diagnostics Incorporated Common Stock $1,607,853 0.15% 7,586 $121,149
QQQ Invesco QQQ Trust, Series 1 $1,534,658 0.14% 2,084 $331,815
LLY Eli Lilly and Company Common Stock $1,499,288 0.14% 1,250 $349,575
TJX TJX Companies, Inc. (The) Common Stock $1,395,921 0.13% 9,214 $-75,555
MDT Medtronic plc. Ordinary Shares $1,242,684 0.11% 15,885 $-133,751
DIS Walt Disney Company (The) Common Stock $1,186,474 0.11% 12,327 $390,279 Up ×2
HD Home Depot, Inc. (The) Common Stock $1,155,027 0.11% 3,275 $77,912
APH Amphenol Corporation Common Stock $1,141,143 0.10% 6,472 $654,569 Up ×2
PSX Phillips 66 Common Stock $1,098,825 0.10% 6,500 $-85,345
UPS United Parcel Service, Inc. Common Stock $1,069,303 0.10% 9,947 $90,717
KMB Kimberly-Clark Corporation - Common Stock $1,023,166 0.09% 9,321 $123,969
CVX Chevron Corporation Common Stock $1,002,019 0.09% 6,045 $-248,692
SWK Stanley Black & Decker, Inc. Common Stock $993,437 0.09% 10,555 $243,399
ONIT Onity Group Inc. Common Stock $985,720 0.09% 24,798 $11,903
NVDA NVIDIA Corporation - Common Stock $943,825 0.09% 4,717 $412,951 Up ×2
MMM 3M Company Common Stock $909,125 0.08% 5,615 $93,659
VOO $862,633 0.08% 1,256 $112,110
COR Cencora, Inc. Common Stock $861,674 0.08% 3,045 $-94,882
CCK Crown Holdings, Inc. $829,816 0.08% 7,421 $85,861
CMCSA Comcast Corporation - Class A Common Stock $755,035 0.07% 30,755 $-127,941
VEU $727,369 0.07% 8,685 $75,125
CTAS Cintas Corporation - Common Stock $681,000 0.06% 4,004 $3,763
AMLP $678,146 0.06% 13,079 $-10,333
BIL $657,884 0.06% 7,179 $0
PEP PepsiCo, Inc. - Common Stock $627,037 0.06% 4,631 $-92,111
ITW Illinois Tool Works Inc. Common Stock $623,433 0.06% 2,305 $23,465
GD General Dynamics Corporation Common Stock $550,489 0.05% 1,554 $17,125
XBI XBI $543,589 0.05% 3,435 $104,836
ABBV AbbVie Inc. Common Stock $538,510 0.05% 2,140 $-198,781 Down ×1
BDX Becton, Dickinson and Company Common Stock $513,917 0.05% 3,396 $-20,036
IBM International Business Machines Corporation Common Stock $512,365 0.05% 1,822 $70,730
STZ Constellation Brands, Inc. Common Stock $493,770 0.05% 3,550 $-38,730
Unknown issuer (CUSIP: 0076ca104) $481,207 0.04% 57,015 $67,278
GOOG Alphabet Inc. - Class C Capital Stock $466,396 0.04% 1,320 $87,741
CARR Carrier Global Corporation Common Stock $428,364 0.04% 5,840 $99,514
AJG Arthur J. Gallagher & Co. Common Stock $383,841 0.04% 1,672 $21,719
Unknown issuer (CUSIP: 46137v308) $378,941 0.03% 2,675 $27,849
AVY Avery Dennison Corporation Common Stock $362,041 0.03% 2,230 $-23,035
VGK $272,102 0.02% 3,073 $22,174 Up ×1
QCOM QUALCOMM Incorporated - Common Stock $267,576 0.02% 1,448
TDY Teledyne Technologies Incorporated Common Stock $254,089 0.02% 381 $23,580
Unknown issuer (CUSIP: g1151c101) $228,099 0.02% 1,833 $-135,367
THG Hanover Insurance Group Inc $219,473 0.02% 1,025 Up ×1
Unknown issuer (CUSIP: 38141g104) $204,297 0.02% 202 Up ×1

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security Value % of portfolio Streak
VV $31,124,199 2.84% up ×3
VEA $17,360,561 1.59% up ×4
VBIL $16,091,838 1.47% up ×3
MSFT $14,112,466 1.29% up ×4
AMZN $12,795,521 1.17% up ×4

Biggest new bets

New positions opened this quarter, largest first.

Security Value Shares % of portfolio
QCOM $267,576 1,448 0.02%
THG $219,473 1,025 0.02%
Unknown issuer (CUSIP: 38141g104) $204,297 202 0.02%

Top movers (QoQ)

Security Action Shares Δ Value Δ
SPY Bought more +6K +$32.3M
SMH Bought more +623 +$26.3M
VGSH Trimmed -136K -$8.5M
GOOGL Bought more +2K +$6.7M
BRKB Bought more +4K +$5.5M
VV Bought more +4K +$5.2M
VEA Bought more +39K +$4.3M
URI Trimmed -441 +$4.2M
EFA Trimmed -2K +$4.1M
BILS Trimmed -36K -$3.6M

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarter Shares before Value before Price since exit
QTEC Dec. 31, 2025 58,036 $13,325,646
DHI March 31, 2026 86,119 $12,403,720 8.1%
NVR March 31, 2026 1,582 $11,537,162 -3.9%
LEN March 31, 2026 96,724 $9,943,227 -0.5%
WMT March 31, 2026 30,585 $3,407,475 -17.0%
XLB Dec. 31, 2025 37,774 $3,385,306 No longer tracked
MDY Dec. 31, 2025 5,201 $3,099,952 No longer tracked
XLF Dec. 31, 2025 37,042 $1,995,453 No longer tracked
ACGL March 31, 2025 14,315 $1,321,990 3.7%
MRP Dec. 31, 2025 35,951 $1,208,313 2.6%
DOV Dec. 31, 2025 6,542 $1,091,402 3.3%
XLP Dec. 31, 2025 12,233 $958,700 No longer tracked
GPC Sept. 30, 2025 6,570 $797,007 -3.3%
IWD June 30, 2026 3,368 $719,641 No longer tracked
GDXJ March 31, 2025 13,550 $579,263 No longer tracked
MCD June 30, 2026 1,652 $513,425 -0.6%
ACN March 31, 2026 1,833 $491,794 -7.9%
XOM June 30, 2026 2,390 $405,492 21.7%
KO June 30, 2026 5,200 $395,460 11.5%
COWZ June 30, 2025 4,753 $260,274 No longer tracked
MOAT March 31, 2025 2,805 $260,094 No longer tracked
EFG Dec. 31, 2025 2,250 $256,230 No longer tracked
NKE June 30, 2026 4,771 $252,004 -1.2%
QCOM March 31, 2026 1,448 $247,680 25.0%
LMT June 30, 2026 383 $231,481 11.6%
DHR March 31, 2026 992 $227,089 12.9%
XLK Dec. 31, 2025 793 $223,515 No longer tracked
TDY Dec. 31, 2025 381 $223,281 23.9%
BLK Sept. 30, 2025 211 $221,392 -0.8%
BLK March 31, 2025 211 $216,298 22.2%
PAWZ Sept. 30, 2025 3,533 $204,647 No longer tracked
CI June 30, 2025 620 $203,980 -16.3%
DHR June 30, 2025 992 $203,360 8.4%
CDXS March 31, 2025 11,693 $55,776 -41.0%