CIK: 0001775715
Total reported value
$4.8B
Reporting period: 2026-03-31 · Number of holdings: 75
MILFORD FUNDS LTD disclosed 75 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $4.8B and a quarterly turnover rate of 46.3%.
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Milford Funds LTD's disclosed holdings carry a Herfindahl concentration index of 0.028 — mathematically equivalent to about 36 equally-sized positions, well below its 75 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.06), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Add SHEL
+127.7% $134.2M
Trim GOOG
-35.5% -$124.6M
Add NVDA
+60.3% $71.0M
Add TSM
+30.2% $67.1M
Add ARMK
+22.8% $63.6M
Add BSX
+171.1% $61.0M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | Stock-Tech | 5.74% | -0.69% | +9.31% | |
| 2 | AMZN | Amazon.com INC | Stock-Consumer Disc | 5.13% | -0.24% | -0.69% | |
| 3 | ARMK | Aramark | Stock-Industrials | 5.13% | +1.57% | +22.83% | |
| 4 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 4.55% | +1.61% | +30.24% | |
| 5 | NVDA | Nvidia CORP | Stock-Tech | 4.47% | +1.68% | +60.32% | |
| 6 | SHEL | Shell Plc-adr | Stock-Energy | 4.31% | +2.91% | +127.71% | |
| 7 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 3.75% | -2.21% | -35.51% | |
| 8 | INTU | Intuit INC | Stock-Tech | 3.45% | +1.25% | +124.57% | |
| 9 | BAC | Bank Of America CORP | Stock-Financials | 3.26% | -1.23% | -23.26% | |
| 10 | NGG | National Grid Plc-sp Adr | Stock-Utilities | 3.14% | -0.46% | -25.12% | |
| 11 | CCI | Crown Castle INC | Stock-Real Estate | 3.08% | -0.23% | -4.70% | |
| 12 | BSX | Boston Scientific CORP | Stock-Healthcare | 2.91% | +1.38% | +171.10% | |
| 13 | AAPL | Apple INC | Stock-Tech | 2.88% | -0.42% | -12.32% | |
| 14 | META | Meta Platforms Inc-class A | Stock-Comm Services | 2.71% | +0.85% | +57.52% | |
| 15 | AMT | American Tower CORP | Stock-Real Estate | 2.25% | — | -5.66% | |
| 16 | CRM | Salesforce INC | Stock-Tech | 1.94% | -0.83% | -6.95% | |
| 17 | APG | Api Group CORP | Stock-Industrials | 1.85% | -0.59% | -32.86% | |
| 18 | MU | Micron Technology INC | Stock-Tech | 1.85% | — | -14.87% | |
| 19 | NFLX | Netflix INC | Stock-Comm Services | 1.84% | +0.67% | +43.12% | |
| 20 | COP | Conocophillips | Stock-Energy | 1.82% | +1.82% | NEW | |
| 21 | TMO | Thermo Fisher Scientific INC | Stock-Healthcare | 1.70% | +0.75% | +97.38% | |
| 22 | AVGO | Broadcom INC | Stock-Tech | 1.64% | +0.52% | +53.46% | |
| 23 | AJG | Arthur J Gallagher & Co | Stock-Financials | 1.63% | -0.57% | -17.01% | |
| 24 | HCA | Hca Healthcare INC | Stock-Healthcare | 1.60% | +0.57% | +43.55% | |
| 25 | DUK | Duke Energy CORP | Stock-Utilities | 1.52% | -0.40% | -33.76% | |
| 26 | RIO | Rio Tinto Plc-spon Adr | Stock-Materials | 1.31% | -0.52% | -42.32% | |
| 27 | RYAAY | Ryanair Holdings Plc-sp Adr | Stock-Industrials | 1.22% | +0.45% | +84.71% | |
| 28 | PHM | Pultegroup INC | Stock-Consumer Disc | 1.21% | — | -15.92% | |
| 29 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.16% | -0.68% | -35.21% | |
| 30 | UNP | Union Pacific CORP | Stock-Industrials | 1.11% | — | -16.76% | |
| 31 | GXO | Gxo Logistics INC | Stock-Industrials | 1.09% | — | +21.72% | |
| 32 | PLD | Prologis INC | Stock-Real Estate | 1.03% | +0.80% | +300.42% | |
| 33 | TOL | Toll Brothers INC | Stock-Consumer Disc | 1.02% | +0.73% | +223.71% | |
| 34 | NEM | Newmont CORP | Stock-Materials | 0.99% | -1.01% | -57.31% | |
| 35 | TDG | Transdigm Group INC | Stock-Industrials | 0.92% | — | +20.84% | |
| 36 | BDX | Becton Dickinson And Co | Stock-Healthcare | 0.92% | — | +3.71% | |
| 37 | JLL | Jones Lang Lasalle INC | Stock-Real Estate | 0.92% | -0.77% | -43.74% | |
| 38 | MA | Mastercard INC - A | Stock-Financials | 0.91% | -0.32% | -20.88% | |
| 39 | BP | Bp Plc-spons Adr | Stock-Energy | 0.87% | +0.71% | +266.67% | |
| 40 | RMD | Resmed INC | Stock-Healthcare | 0.71% | — | +27.12% | |
| 41 | CP | Canadian Pacific Kansas City | Stock-Industrials | 0.69% | +0.69% | NEW | |
| 42 | FISV | Fiserv INC | Stock-Other | 0.69% | — | -3.32% | |
| 43 | ICE | Intercontinental Exchange In | Stock-Financials | 0.65% | — | +27.07% | |
| 44 | AMAT | Applied Materials INC | Stock-Tech | 0.57% | +0.57% | NEW | |
| 45 | AEE | Ameren Corporation | Stock-Utilities | 0.57% | — | — | |
| 46 | DHR | Danaher CORP | Stock-Healthcare | 0.54% | -0.67% | -49.49% | |
| 47 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.48% | — | -24.38% | |
| 48 | SPGI | S&p Global INC | Stock-Financials | 0.47% | -1.17% | -67.00% | |
| 49 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 0.46% | — | +44.14% | |
| 50 | WAT | Waters CORP | Stock-Healthcare | 0.42% | +0.42% | NEW |
Performance for Q3 2026
+2%
Performance Last 4 Quarters
+5.2%
Based on 5 months of available history
Based on 77% of reported portfolio value with available pricing
Milford Funds LTD's most significant position changes for 2026-03-31: Sold out: Carnival CORP LTD (CCL1EUR); New buy: Conocophillips (COP); Sold out: Elevance Health INC (ELV); New buy: Canadian Pacific Kansas City (CP); Sold out: Vulcan Materials Co (VMC).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SHEL | Shell Plc-adr | +2.9% | +127.71% | Add |
| 2 | NVDA | Nvidia CORP | +1.7% | +60.32% | Add |
| 3 | TSM | Taiwan Semiconductor-sp Adr | +1.6% | +30.24% | Add |
| 4 | ARMK | Aramark | +1.6% | +22.83% | Add |
| 5 | BSX | Boston Scientific CORP | +1.4% | +171.10% | Add |
| 6 | INTU | Intuit INC | +1.3% | +124.57% | Add |
| 7 | META | Meta Platforms Inc-class A | +0.9% | +57.52% | Add |
| 8 | PLD | Prologis INC | +0.8% | +300.42% | Add |
| 9 | TMO | Thermo Fisher Scientific INC | +0.8% | +97.38% | Add |
| 10 | TOL | Toll Brothers INC | +0.7% | +223.71% | Add |
| 11 | BP | Bp Plc-spons Adr | +0.7% | +266.67% | Add |
| 12 | NFLX | Netflix INC | +0.7% | +43.12% | Add |
| 13 | HCA | Hca Healthcare INC | +0.6% | +43.55% | Add |
| 14 | AVGO | Broadcom INC | +0.5% | +53.46% | Add |
| 15 | RYAAY | Ryanair Holdings Plc-sp Adr | +0.5% | +84.71% | Add |
| 16 | CCI | Crown Castle INC | -0.2% | -4.70% | Trim |
| 17 | AMZN | Amazon.com INC | -0.2% | -0.69% | Trim |
| 18 | MA | Mastercard INC - A | -0.3% | -20.88% | Trim |
| 19 | EFX | Equifax INC | -0.4% | -67.57% | Trim |
| 20 | DUK | Duke Energy CORP | -0.4% | -33.76% | Trim |
| 21 | AAPL | Apple INC | -0.4% | -12.32% | Trim |
| 22 | NGG | National Grid Plc-sp Adr | -0.5% | -25.12% | Trim |
| 23 | RIO | Rio Tinto Plc-spon Adr | -0.5% | -42.32% | Trim |
| 24 | AJG | Arthur J Gallagher & Co | -0.6% | -17.01% | Trim |
| 25 | APG | Api Group CORP | -0.6% | -32.86% | Trim |
| 26 | GPK | Graphic Packaging Holding Co | -0.6% | -59.03% | Trim |
| 27 | TRU | Transunion | -0.6% | -73.61% | Trim |
| 28 | IQV | Iqvia Holdings INC | -0.6% | -95.27% | Trim |
| 29 | NOW | Servicenow INC | -0.7% | -90.62% | Trim |
| 30 | DHR | Danaher CORP | -0.7% | -49.49% | Trim |
| 31 | JPM | Jpmorgan Chase & Co | -0.7% | -35.21% | Trim |
| 32 | MSFT | Microsoft CORP | -0.7% | +9.31% | Add |
| 33 | JLL | Jones Lang Lasalle INC | -0.8% | -43.74% | Trim |
| 34 | CRM | Salesforce INC | -0.8% | -6.95% | Trim |
| 35 | NEM | Newmont CORP | -1% | -57.31% | Trim |
| 36 | SPGI | S&p Global INC | -1.2% | -67.00% | Trim |
| 37 | BAC | Bank Of America CORP | -1.2% | -23.26% | Trim |
| 38 | GOOG | Alphabet Inc-cl C | -2.2% | -35.51% | Trim |
| 39 | CCL1EUR | Carnival CORP LTD | — | EXIT | Sold out |
| 40 | COP | Conocophillips | — | NEW | New buy |
| 41 | ELV | Elevance Health INC | — | EXIT | Sold out |
| 42 | CP | Canadian Pacific Kansas City | — | NEW | New buy |
| 43 | VMC | Vulcan Materials Co | — | EXIT | Sold out |
| 44 | AMAT | Applied Materials INC | — | NEW | New buy |
| 45 | XPO | Xpo INC | — | EXIT | Sold out |
| 46 | ROP | Roper Technologies INC | — | EXIT | Sold out |
| 47 | WAT | Waters CORP | — | NEW | New buy |
| 48 | AMD | Advanced Micro Devices | — | NEW | New buy |
| 49 | HLT | Hilton Worldwide Holdings In | — | NEW | New buy |
| 50 | WMS | Advanced Drainage Systems In | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-14 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-13 | 13F-HR | View on EDGAR |
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