CIK: 0001407382
Total reported value
$1.0B
Reporting period: 2026-03-31 · Number of holdings: 86
Miller Investment Management, LP disclosed 86 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $1.0B and a quarterly turnover rate of 13.4%.
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Miller Investment Management, LP's disclosed holdings carry a Herfindahl concentration index of 0.083 — mathematically equivalent to about 12 equally-sized positions, well below its 86 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 2.50), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 3.8 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Sector classification currently covers about 22% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Add BILS
+24.9% $25.2M
Add VGSH
+12.8% $10.9M
Add VGIT
+11.4% $7.6M
Add VV
+38.0% $6.1M
Trim SPY
+0.4% -$8.4M
Trim EFA
-8.9% -$5.4M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 18.87% | -0.51% | +0.43% | |
| 2 | BILS | Ss Spdrb B 3-12m T-bill ETF | ETF-Other | 12.45% | +2.67% | +24.92% | |
| 3 | VGSH | Vanguard Short-term Treasury | ETF-Gov Bonds | 9.73% | +1.22% | +12.84% | |
| 4 | VGIT | Vanguard Intermediate-term T | ETF-Other | 7.84% | +0.87% | +11.35% | |
| 5 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 7.34% | -0.22% | +0.15% | |
| 6 | EFA | Ishares Msci Eafe ETF | ETF-Other | 6.29% | -0.42% | -8.93% | |
| 7 | SMH | Vaneck Semiconductor ETF | ETF-Other | 3.61% | +0.21% | -1.80% | |
| 8 | META | Meta Platforms Inc-class A | Stock-Comm Services | 3.29% | -0.36% | +2.26% | |
| 9 | XLV | Ss Health Care Select Sector | ETF-Other | 2.95% | -0.05% | +2.31% | |
| 10 | ✓ | Ishares INC Msci Japan ETF | ETF-Other | 2.71% | -0.02% | -6.56% | |
| 11 | VV | Vanguard Large-cap ETF | ETF-Other | 2.57% | +0.64% | +38.02% | |
| 12 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.51% | -0.16% | +0.68% | |
| 13 | XLC | Ss Comm Select Sector Spdr | ETF-Other | 1.86% | -0.08% | -0.09% | |
| 14 | IWR | Ishares Russell Mid-cap ETF | ETF-Other | 1.82% | -0.01% | -3.23% | |
| 15 | VBIL | Vanguard 0-3m T-bill ETF | ETF-Other | 1.47% | +0.14% | +8.29% | |
| 16 | ✓ | Vaneck ETF Trust | ETF-Other | 1.38% | -0.16% | -12.42% | |
| 17 | MSFT | Microsoft CORP | Stock-Tech | 1.32% | -0.32% | +3.65% | |
| 18 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 1.30% | +0.34% | +29.87% | |
| 19 | AMZN | Amazon.com INC | Stock-Consumer Disc | 1.09% | -0.08% | +1.34% | |
| 20 | URI | United Rentals INC | Stock-Industrials | 0.85% | -0.08% | — | |
| 21 | BBH | Vaneck Biotech ETF | ETF-Tech | 0.73% | — | +0.10% | |
| 22 | IBB | Ishares Biotechnology ETF | ETF-Tech | 0.59% | -0.03% | -6.28% | |
| 23 | CAH | Cardinal Health INC | Stock-Healthcare | 0.49% | — | — | |
| 24 | VIG | Vanguard Dividend Apprec ETF | ETF-Other | 0.35% | — | — | |
| 25 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.33% | -0.03% | — | |
| 26 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 0.33% | -0.03% | -4.36% | |
| 27 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.31% | +0.05% | — | |
| 28 | DIA | Ss Spdr Dow Jones Indus Avg | ETF-Large Cap & Growth | 0.26% | — | — | |
| 29 | PNC | Pnc Financial Services Group | Stock-Financials | 0.26% | — | — | |
| 30 | EMR | Emerson Electric Co | Stock-Industrials | 0.25% | — | — | |
| 31 | DE | Deere & Co | Stock-Industrials | 0.23% | — | -15.37% | |
| 32 | AAPL | Apple INC | Stock-Tech | 0.23% | -0.02% | -0.80% | |
| 33 | RTX | Rtx CORP | Stock-Industrials | 0.20% | — | — | |
| 34 | ORCL | Oracle CORP | Stock-Tech | 0.18% | -0.03% | +15.35% | |
| 35 | AMGN | Amgen INC | Stock-Healthcare | 0.18% | — | — | |
| 36 | WFC | Wells Fargo & Co | Stock-Financials | 0.16% | -0.03% | — | |
| 37 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 0.15% | — | — | |
| 38 | DGX | Quest Diagnostics INC | Stock-Healthcare | 0.15% | +0.02% | — | |
| 39 | TJX | Tjx Companies INC | Stock-Consumer Disc | 0.15% | — | -3.36% | |
| 40 | GSPY | Gotham Enhanced 500 ETF | ETF-Other | 0.14% | — | — | |
| 41 | MDT | Medtronic plc | Stock-Healthcare | 0.14% | -0.01% | — | |
| 42 | CVX | Chevron CORP | Stock-Energy | 0.12% | +0.03% | — | |
| 43 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 0.12% | — | — | |
| 44 | PSX | Phillips 66 | Stock-Energy | 0.12% | +0.04% | — | |
| 45 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.11% | -0.02% | — | |
| 46 | CNC | Centene CORP | Stock-Healthcare | 0.11% | -0.03% | -1.42% | |
| 47 | HD | Home Depot INC | Stock-Consumer Disc | 0.11% | — | -3.79% | |
| 48 | UPS | United Parcel Service-cl B | Stock-Industrials | 0.10% | — | — | |
| 49 | ONIT | Onity Group INC | Stock-Other | 0.10% | -0.01% | — | |
| 50 | COR | Cencora INC | Stock-Healthcare | 0.09% | — | — |
Performance for Q3 2026
+2.3%
Performance Last 4 Quarters
+14.8%
Based on 74% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 86 | $1.0B | 13 | |
| 2025-12-31 | 89 | $1.0B | 23 | |
| 2025-09-30 | 98 | $995.1M | 15 | |
| 2025-06-30 | 96 | $952.4M | 0 | |
| 2025-03-31 | 97 | $904.0M | 100 | |
| 2024-12-31 | 100 | $913.6M | 0 | |
| 2024-09-30 | 104 | $960.4M | 0 | |
| 2024-06-30 | 103 | $836.9M | 0 | |
| 2024-03-31 | 105 | $782.7M | 0 | |
| 2023-12-31 | 102 | $702.9M | 0 | |
| 2023-09-30 | 97 | $635.4M | 0 | |
| 2023-06-30 | 96 | $655.7M | 0 | |
| 2023-03-31 | 95 | $605.7M | 0 | |
| 2022-12-31 | 94 | $587.0M | 0 | |
| 2022-09-30 | 90 | $479.0M | 0 | |
| 2022-06-30 | 90 | $486.2M | 0 | |
| 2022-03-31 | 96 | $634.8M | 0 | |
| 2021-12-31 | 96 | $699.0M | 0 | |
| 2021-09-30 | 89 | $582.0M | 0 | |
| 2021-06-30 | 80 | $574.5M | 100 | |
| 2021-03-31 | 79 | $540.9M | 19 | |
| 2020-12-31 | 77 | $536.7M | 43 | |
| 2020-09-30 | 69 | $408.7M | 20 | |
| 2020-06-30 | 68 | $340.0M | 21 | |
| 2020-03-31 | 72 | $310.8M | 44 | |
| 2019-12-31 | 78 | $450.7M | 12 | |
| 2019-09-30 | 77 | $439.7M | 13 | |
| 2019-06-30 | 77 | $437.8M | 16 | |
| 2019-03-31 | 77 | $380.6M | 18 | |
| 2018-12-31 | 75 | $339.9M | 38 | |
| 2018-09-30 | 80 | $330.2M | 19 | |
| 2018-06-30 | 85 | $332.6M | 41 | |
| 2018-03-31 | 76 | $305.5M | 9 | |
| 2017-12-31 | 73 | $328.0M | 13 | |
| 2017-09-30 | 72 | $309.0M | 10 | |
| 2017-06-30 | 70 | $282.3M | 14 | |
| 2017-03-31 | 69 | $273.8M | 18 | |
| 2016-12-31 | 73 | $309.0M | 39 | |
| 2016-09-30 | 72 | $280.1M | 11 | |
| 2016-06-30 | 67 | $259.1M | 41 | |
| 2016-03-31 | 64 | $228.9M | 15 | |
| 2015-12-31 | 62 | $259.6M | 7 | |
| 2015-09-30 | 61 | $247.2M | 9 | |
| 2015-06-30 | 65 | $268.2M | 5 | |
| 2015-03-31 | 71 | $277.5M | 13 | |
| 2014-12-31 | 65 | $262.7M | 61 | |
| 2014-09-30 | 67 | $208.0M | 24 | |
| 2014-06-30 | 75 | $225.4M | 33 | |
| 2014-03-31 | 77 | $178.4M | 14 | |
| 2013-12-31 | 77 | $179.6M | 9 | |
| 2013-09-30 | 70 | $166.6M | 21 | |
| 2013-06-30 | 67 | $140.4M | — |
Miller Investment Management, LP's most significant position changes for 2026-03-31: Sold out: Dr Horton INC (DHI); Sold out: Nvr INC (NVR); Sold out: Lennar Corp-a (LEN); Sold out: Walmart INC (WMT); Sold out: Accenture plc (ACN).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | BILS | Ss Spdrb B 3-12m T-bill ETF | +2.7% | +24.92% | Add |
| 2 | VGSH | Vanguard Short-term Treasury | +1.2% | +12.84% | Add |
| 3 | VGIT | Vanguard Intermediate-term T | +0.9% | +11.35% | Add |
| 4 | VV | Vanguard Large-cap ETF | +0.6% | +38.02% | Add |
| 5 | VEA | Vanguard Ftse Developed ETF | +0.3% | +29.87% | Add |
| 6 | SMH | Vaneck Semiconductor ETF | +0.2% | -1.80% | Trim |
| 7 | VBIL | Vanguard 0-3m T-bill ETF | +0.1% | +8.29% | Add |
| 8 | JNJ | Johnson & Johnson | +0.1% | — | Unchanged |
| 9 | PSX | Phillips 66 | 0% | — | Unchanged |
| 10 | CVX | Chevron CORP | 0% | — | Unchanged |
| 11 | NVDA | Nvidia CORP | 0% | +103.61% | Add |
| 12 | APH | Amphenol Corp-cl A | 0% | +76.81% | Add |
| 13 | DGX | Quest Diagnostics INC | 0% | — | Unchanged |
| 14 | DIS | Walt Disney Co/the | 0% | +47.78% | Add |
| 15 | IWR | Ishares Russell Mid-cap ETF | 0% | -3.23% | Trim |
| 16 | ONIT | Onity Group INC | 0% | — | Unchanged |
| 17 | MDT | Medtronic plc | 0% | — | Unchanged |
| 18 | ✓ | Ishares INC Msci Japan ETF | 0% | -6.56% | Trim |
| 19 | LLY | Eli Lilly & Co | 0% | — | Unchanged |
| 20 | AAPL | Apple INC | 0% | -0.80% | Trim |
| 21 | BDX | Becton Dickinson And Co | 0% | -2.64% | Trim |
| 22 | IBB | Ishares Biotechnology ETF | 0% | -6.28% | Trim |
| 23 | MCD | Mcdonald's CORP | 0% | -41.54% | Trim |
| 24 | JPM | Jpmorgan Chase & Co | 0% | — | Unchanged |
| 25 | CNC | Centene CORP | 0% | -1.42% | Trim |
| 26 | VTI | Vanguard Total Stock Mkt ETF | 0% | -4.36% | Trim |
| 27 | WFC | Wells Fargo & Co | 0% | — | Unchanged |
| 28 | ORCL | Oracle CORP | 0% | +15.35% | Add |
| 29 | XLV | Ss Health Care Select Sector | -0.1% | +2.31% | Add |
| 30 | XLC | Ss Comm Select Sector Spdr | -0.1% | -0.09% | Trim |
| 31 | AMZN | Amazon.com INC | -0.1% | +1.34% | Add |
| 32 | URI | United Rentals INC | -0.1% | — | Unchanged |
| 33 | GOOGL | Alphabet Inc-cl A | -0.2% | +0.68% | Add |
| 34 | ✓ | Vaneck ETF Trust | -0.2% | -12.42% | Trim |
| 35 | BRK-B | Berkshire Hathaway Inc-cl B | -0.2% | +0.15% | Add |
| 36 | MSFT | Microsoft CORP | -0.3% | +3.65% | Add |
| 37 | META | Meta Platforms Inc-class A | -0.4% | +2.26% | Add |
| 38 | EFA | Ishares Msci Eafe ETF | -0.4% | -8.93% | Trim |
| 39 | SPY | Ss Spdr S&p 500 ETF Trust-us | -0.5% | +0.43% | Add |
| 40 | DHI | Dr Horton INC | — | EXIT | Sold out |
| 41 | NVR | Nvr INC | — | EXIT | Sold out |
| 42 | LEN | Lennar Corp-a | — | EXIT | Sold out |
| 43 | WMT | Walmart INC | — | EXIT | Sold out |
| 44 | ACN | Accenture plc | — | EXIT | Sold out |
| 45 | ✓ | Accenture plc | — | NEW | New buy |
| 46 | VGK | Vanguard Ftse Europe ETF | — | NEW | New buy |
| 47 | QCOM | Qualcomm INC | — | EXIT | Sold out |
| 48 | LMT | Lockheed Martin CORP | — | NEW | New buy |
| 49 | TDY | Teledyne Technologies INC | — | NEW | New buy |
| 50 | DHR | Danaher CORP | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-08 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-11 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-10 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-06 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-07 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-13 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-13 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-14 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-12 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-13 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-15 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-13 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-13 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-11 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-12 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-06 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-12 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-12 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-12 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-07 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-07 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-03 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-07 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-01 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-09 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-11 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-07 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-13 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-10 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-08 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-06 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-10 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-08 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-13 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-15 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-13 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-12 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-10 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-10 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-13 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-13 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-12 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-14 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-13 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-11 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-08 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-12 | 13F-HR | View on EDGAR |
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