CIK: 0001901166
Total reported value
$1.3B
Reporting period: 2026-03-31 · Number of holdings: 130
Mill Capital Management, LLC disclosed 130 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $1.3B and a quarterly turnover rate of 16.3%.
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Mill Capital Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.037 — mathematically equivalent to about 27 equally-sized positions, well below its 130 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.97), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Add XOM
-0.0% $18.0M
Trim MSFT
+0.5% -$22.4M
Trim CPAY
-98.3% -$16.2M
Trim BRK-A
-12.8% -$15.1M
Trim GOOG
-3.0% -$12.1M
Add ASML
-0.3% $5.0M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AAPL | Apple INC | Stock-Tech | 9.75% | -0.21% | -0.49% | |
| 2 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 7.24% | -0.50% | -2.96% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 5.67% | -1.33% | +0.51% | |
| 4 | BRK-A | Berkshire Hathaway Inc-cl A | Stock-Other | 5.57% | -0.80% | -12.82% | |
| 5 | XOM | Exxon Mobil CORP | Stock-Energy | 4.72% | +1.54% | -0.02% | |
| 6 | V | Visa Inc-class A Shares | Stock-Financials | 4.47% | -0.38% | +1.52% | |
| 7 | JPM | Jpmorgan Chase & Co | Stock-Financials | 4.44% | -0.17% | +0.17% | |
| 8 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 3.28% | +0.35% | +11.16% | |
| 9 | MU | Micron Technology INC | Stock-Tech | 3.13% | +0.36% | -9.32% | |
| 10 | AMZN | Amazon.com INC | Stock-Consumer Disc | 3.06% | -0.13% | +1.02% | |
| 11 | TMO | Thermo Fisher Scientific INC | Stock-Healthcare | 3.02% | -0.36% | +0.08% | |
| 12 | AXP | American Express Co | Stock-Financials | 2.80% | -0.45% | -0.19% | |
| 13 | UNP | Union Pacific CORP | Stock-Industrials | 2.48% | +0.31% | +3.27% | |
| 14 | JNJ | Johnson & Johnson | Stock-Healthcare | 2.21% | +0.44% | +0.05% | |
| 15 | TDG | Transdigm Group INC | Stock-Industrials | 2.20% | -0.19% | +0.23% | |
| 16 | ASML | ASML Holding N.V. | Stock-Tech | 2.02% | +0.46% | -0.34% | |
| 17 | BKNG | Booking Holdings INC | Stock-Consumer Disc | 1.83% | -0.36% | +1.15% | |
| 18 | ICE | Intercontinental Exchange In | Stock-Financials | 1.81% | — | +3.47% | |
| 19 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.66% | -0.14% | -4.72% | |
| 20 | LHX | L3harris Technologies INC | Stock-Industrials | 1.63% | +0.32% | +0.06% | |
| 21 | AMT | American Tower CORP | Stock-Real Estate | 1.62% | +0.06% | +0.27% | |
| 22 | ZTS | Zoetis INC | Stock-Healthcare | 1.56% | — | +6.84% | |
| 23 | LIN | Linde plc | Stock-Materials | 1.55% | +0.31% | +2.09% | |
| 24 | SPGI | S&p Global INC | Stock-Financials | 1.41% | +1.41% | NEW | |
| 25 | LH | Labcorp Holdings INC | Stock-Healthcare | 1.31% | +0.15% | +0.44% | |
| 26 | VRSN | Verisign INC | Stock-Tech | 1.27% | +0.10% | +0.10% | |
| 27 | UNH | Unitedhealth Group INC | Stock-Healthcare | 1.22% | -0.22% | -1.33% | |
| 28 | CPRT | Copart INC | Stock-Industrials | 1.14% | -0.12% | +1.12% | |
| 29 | PM | Philip Morris International | Stock-Consumer Staples | 0.91% | +0.07% | — | |
| 30 | CRM | Salesforce INC | Stock-Tech | 0.85% | -0.30% | -0.16% | |
| 31 | OTIS | Otis Worldwide CORP | Stock-Industrials | 0.85% | -0.06% | +0.42% | |
| 32 | APH | Amphenol Corp-cl A | Stock-Tech | 0.84% | — | +8.08% | |
| 33 | BSX | Boston Scientific CORP | Stock-Healthcare | 0.71% | -0.03% | +39.56% | |
| 34 | MRK | Merck & Co. INC. | Stock-Healthcare | 0.59% | +0.10% | — | |
| 35 | LRCX | Lam Research CORP | Stock-Tech | 0.56% | +0.13% | -1.42% | |
| 36 | TT | Trane Technologies plc | Stock-Industrials | 0.56% | +0.06% | -1.12% | |
| 37 | WFC | Wells Fargo & Co | Stock-Financials | 0.48% | -0.07% | -2.45% | |
| 38 | CAT | Caterpillar INC | Stock-Industrials | 0.46% | +0.10% | -3.88% | |
| 39 | CVX | Chevron CORP | Stock-Energy | 0.44% | +0.13% | -0.24% | |
| 40 | GE | General Electric | Stock-Industrials | 0.42% | -0.01% | — | |
| 41 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.39% | — | -5.12% | |
| 42 | CMCSA | Comcast Corp-class A | Stock-Comm Services | 0.33% | -0.07% | -19.69% | |
| 43 | PFE | Pfizer INC | Stock-Healthcare | 0.33% | +0.05% | -2.78% | |
| 44 | ETN | Eaton Corporation plc | Stock-Industrials | 0.32% | +0.05% | — | |
| 45 | GEV | GE Vernova INC | Stock-Industrials | 0.29% | +0.08% | — | |
| 46 | MLM | Martin Marietta Materials | Stock-Materials | 0.28% | — | — | |
| 47 | DUK | Duke Energy CORP | Stock-Utilities | 0.24% | — | -6.38% | |
| 48 | ELV | Elevance Health INC | Stock-Healthcare | 0.23% | -0.03% | — | |
| 49 | SHEL | Shell Plc-adr | Stock-Energy | 0.22% | +0.04% | -7.47% | |
| 50 | NSC | Norfolk Southern CORP | Stock-Industrials | 0.20% | — | — |
Performance for Q3 2026
+8.7%
Performance Last 4 Quarters
+38.3%
Based on 71% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 130 | $1.3B | 16 | |
| 2025-12-31 | 129 | $1.4B | 12 | |
| 2025-09-30 | 122 | $1.3B | 17 | |
| 2025-06-30 | 120 | $1.3B | 0 | |
| 2025-03-31 | 119 | $1.2B | 0 | |
| 2024-12-31 | 124 | $1.3B | 0 | |
| 2024-09-30 | 124 | $1.3B | 0 | |
| 2024-06-30 | 120 | $1.2B | 0 | |
| 2024-03-31 | 121 | $1.2B | 0 | |
| 2023-12-31 | 119 | $1.1B | 0 | |
| 2023-09-30 | 117 | $1.0B | 0 | |
| 2023-06-30 | 126 | $1.1B | 0 | |
| 2023-03-31 | 132 | $984.8M | 0 | |
| 2022-12-31 | 133 | $910.5M | 0 | |
| 2022-09-30 | 123 | $856.8M | 0 | |
| 2022-06-30 | 125 | $902.9M | 0 | |
| 2022-03-31 | 134 | $1.0B | 0 | |
| 2021-12-31 | 124 | $976.5M | 0 |
Mill Capital Management, LLC's most significant position changes for 2026-03-31: New buy: S&p Global INC (SPGI); Trim: Exxon Mobil CORP (XOM) — shares -0.02%; Add: Microsoft CORP (MSFT) — shares +0.51%; Trim: Corpay INC (CPAY) — shares -98.26%; Trim: Berkshire Hathaway Inc-cl A (BRK-A) — shares -12.82%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | XOM | Exxon Mobil CORP | +1.5% | -0.02% | Trim |
| 2 | ASML | ASML Holding N.V. | +0.5% | -0.34% | Trim |
| 3 | JNJ | Johnson & Johnson | +0.4% | +0.05% | Add |
| 4 | MU | Micron Technology INC | +0.4% | -9.32% | Trim |
| 5 | BRK-B | Berkshire Hathaway Inc-cl B | +0.4% | +11.16% | Add |
| 6 | LHX | L3harris Technologies INC | +0.3% | +0.06% | Add |
| 7 | LIN | Linde plc | +0.3% | +2.09% | Add |
| 8 | UNP | Union Pacific CORP | +0.3% | +3.27% | Add |
| 9 | LH | Labcorp Holdings INC | +0.2% | +0.44% | Add |
| 10 | CVX | Chevron CORP | +0.1% | -0.24% | Trim |
| 11 | LRCX | Lam Research CORP | +0.1% | -1.42% | Trim |
| 12 | MRK | Merck & Co. INC. | +0.1% | — | Unchanged |
| 13 | CAT | Caterpillar INC | +0.1% | -3.88% | Trim |
| 14 | VRSN | Verisign INC | +0.1% | +0.10% | Add |
| 15 | GEV | GE Vernova INC | +0.1% | — | Unchanged |
| 16 | PM | Philip Morris International | +0.1% | — | Unchanged |
| 17 | VTEB | Vanguard Tax-exempt Bond ETF | +0.1% | +50.55% | Add |
| 18 | TT | Trane Technologies plc | +0.1% | -1.12% | Trim |
| 19 | AMT | American Tower CORP | +0.1% | +0.27% | Add |
| 20 | SPAB | Ss Spdr P Agg Bond ETF | +0.1% | +37.52% | Add |
| 21 | ETN | Eaton Corporation plc | +0.1% | — | Unchanged |
| 22 | PFE | Pfizer INC | +0.1% | -2.78% | Trim |
| 23 | COP | Conocophillips | 0% | -11.26% | Trim |
| 24 | SHEL | Shell Plc-adr | 0% | -7.47% | Trim |
| 25 | GE | General Electric | 0% | — | Unchanged |
| 26 | BSX | Boston Scientific CORP | 0% | +39.56% | Add |
| 27 | ELV | Elevance Health INC | 0% | — | Unchanged |
| 28 | IBM | Intl Business Machines CORP | 0% | -17.27% | Trim |
| 29 | BDX | Becton Dickinson And Co | 0% | -21.63% | Trim |
| 30 | ORCL | Oracle CORP | -0.1% | — | Unchanged |
| 31 | OTIS | Otis Worldwide CORP | -0.1% | +0.42% | Add |
| 32 | CMCSA | Comcast Corp-class A | -0.1% | -19.69% | Trim |
| 33 | WFC | Wells Fargo & Co | -0.1% | -2.45% | Trim |
| 34 | CPRT | Copart INC | -0.1% | +1.12% | Add |
| 35 | AMZN | Amazon.com INC | -0.1% | +1.02% | Add |
| 36 | GOOGL | Alphabet Inc-cl A | -0.1% | -4.72% | Trim |
| 37 | JPM | Jpmorgan Chase & Co | -0.2% | +0.17% | Add |
| 38 | TDG | Transdigm Group INC | -0.2% | +0.23% | Add |
| 39 | AAPL | Apple INC | -0.2% | -0.49% | Trim |
| 40 | UNH | Unitedhealth Group INC | -0.2% | -1.33% | Trim |
| 41 | CRM | Salesforce INC | -0.3% | -0.16% | Trim |
| 42 | TMO | Thermo Fisher Scientific INC | -0.4% | +0.08% | Add |
| 43 | BKNG | Booking Holdings INC | -0.4% | +1.15% | Add |
| 44 | V | Visa Inc-class A Shares | -0.4% | +1.52% | Add |
| 45 | AXP | American Express Co | -0.5% | -0.19% | Trim |
| 46 | GOOG | Alphabet Inc-cl C | -0.5% | -2.96% | Trim |
| 47 | BRK-A | Berkshire Hathaway Inc-cl A | -0.8% | -12.82% | Trim |
| 48 | CPAY | Corpay INC | -1.2% | -98.26% | Trim |
| 49 | MSFT | Microsoft CORP | -1.3% | +0.51% | Add |
| 50 | SPGI | S&p Global INC | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-04 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-11 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-29 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-04 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-04-23 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-11 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-10-29 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-07-31 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-04-30 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-01-30 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-10-19 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-07-20 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-01 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-01-20 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-10-18 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-07-29 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-04-26 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
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