Miller Investment Management, LP

CIK

1407382

Location

WEST CONSHOHOCKEN, PA

Portfolio Value

Small $414,774,222

Diversification

Highly concentrated

Filing Date

Global Rank

#2,879 / 8,603 ▼ 154 · as of Mar 2026

Top Industry

Insurance - Diversified 33.7%

3Y Alpha vs SPY

-2.5%

Period ended 3 months ago

Filed May 8, 2026 · 2mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+65.3%

SPY

+76.0%

Annualised alpha

-2.5%

Max drawdown

−15.1%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

57 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

45.8%

+4.2 pts

Top 5

80.9%

+5.9 pts

Top 10

88.4%

+1.8 pts

HHI

2,546

Highly concentrated+408

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Unclassified	46.7%	$193,891,954	3
Financial Services	20.1%	$83,283,989	7
Communication Services	14.5%	$60,084,118	4
Industrials	4.9%	$20,283,612	12
Technology	4.7%	$19,583,070	8
Healthcare	4.2%	$17,291,363	10
Consumer Cyclical	3.7%	$15,374,933	7
Consumer Defensive	0.6%	$2,546,303	4
Energy	0.6%	$2,434,880	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

10 positions

Ticker	Company	Δ Shares	Shares	Value
DIS	Walt Disney Co	+2,671	8,261	$796,195
APH	Amphenol Corp /De/	+1,673	3,851	$486,573
ORCL	Oracle Corp	+1,673	12,572	$1,849,466
NVDA	Nvidia Corp	+1,549	3,044	$530,873
META	Meta Platforms, Inc.	+1,279	57,872	$33,110,307
MSFT	Microsoft Corp	+1,267	36,022	$13,334,263
SPY	Spdr S&P 500 ETF Trust	+1,264	292,218	$190,041,054
AMZN	Amazon Com Inc	+692	52,489	$10,931,884
GOOGL	Alphabet Inc.	+591	87,963	$25,294,640
BRK-B	Berkshire Hathaway Inc	+228	154,300	$73,940,560
No positions match the current search.

Trimmed

Positions the filer reduced

7 positions

Ticker	Company	Δ Shares	Shares	Value
MCD	Mcdonalds Corp	−1,174	1,652	$513,425
DE	Deere & Co	−760	4,185	$2,357,410
CNC	Centene Corp	−500	34,795	$1,139,188
TJX	Tjx Companies Inc /De/	−320	9,214	$1,471,475
HD	Home Depot, Inc.	−129	3,275	$1,077,114
BDX	Becton Dickinson & Co	−92	3,396	$533,953
AAPL	Apple Inc.	−75	9,245	$2,346,288
No positions match the current search.

New Positions

Positions the filer opened this quarter

2 positions

Ticker	Company	Shares	Value
LMT	Lockheed Martin Corp	383	$231,481
TDY	Teledyne Technologies Inc	381	$230,508
No positions match the current search.

Sold Out

Positions the filer fully exited

6 positions

Ticker	Company	Shares	Value
DHI	Horton D R Inc /De/	86,119	$12,403,719
NVR	Nvr Inc	1,582	$11,537,162
LEN	Lennar Corp /New/	96,724	$9,943,227
WMT	Walmart Inc.	30,585	$3,407,474
QCOM	Qualcomm Inc/De	1,448	$247,680
DHR	Danaher Corp /De/	992	$227,088
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

57 positions · $414,774,222 total · as of Mar 31, 2026

All sectors Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Technology

Showing 1–50 of 57 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
SPY	Spdr S&P 500 ETF Trust	Added	292,218	+1,264	$190,041,054	−4.2%	45.82%
BRK-B	Berkshire Hathaway Inc Financial Services	Added	154,300	+228	$73,940,560	−4.5%	17.83%
META	Meta Platforms, Inc. Communication Services	Added	57,872	+1,279	$33,110,307	−11.4%	7.98%
GOOGL	Alphabet Inc. Communication Services	Added	87,963	+591	$25,294,640	−7.5%	6.10%
MSFT	Microsoft Corp Technology	Added	36,022	+1,267	$13,334,263	−20.7%	3.21%
AMZN	Amazon Com Inc Consumer Cyclical	Added	52,489	+692	$10,931,884	−8.6%	2.64%
URI	United Rentals, Inc. Industrials	Held	11,707	0	$8,529,251	−10.0%	2.06%
CAH	Cardinal Health Inc Healthcare	Held	23,553	0	$4,976,984	+2.8%	1.20%
JPM	Jpmorgan Chase & Co Financial Services	Held	11,410	0	$3,356,365	−8.7%	0.81%
JNJ	Johnson & Johnson Healthcare	Held	12,849	0	$3,140,809	+18.1%	0.76%
DIA	Spdr Dow Jones Industrial Average ETF Trust	Held	5,717	0	$2,648,057	−3.6%	0.64%
PNC	Pnc Financial Services Group, Inc. Financial Services	Held	12,580	0	$2,617,772	−0.3%	0.63%
EMR	Emerson Electric Co Industrials	Held	18,970	0	$2,485,449	−1.3%	0.60%
DE	Deere & Co Industrials	Reduced	4,185	-760	$2,357,410	+2.4%	0.57%
AAPL	Apple Inc. Technology	Reduced	9,245	-75	$2,346,288	−7.4%	0.57%
RTX	RTX Corp Industrials	Held	10,350	0	$1,996,515	+5.2%	0.48%
ORCL	Oracle Corp Technology	Added	12,572	+1,673	$1,849,466	−12.9%	0.45%
AMGN	Amgen Inc Healthcare	Held	5,098	0	$1,793,731	+7.5%	0.43%
WFC	Wells Fargo & Company/Mn Financial Services	Held	20,342	0	$1,619,426	−14.6%	0.39%
DGX	Quest Diagnostics Inc Healthcare	Held	7,586	0	$1,486,704	+12.9%	0.36%
TJX	Tjx Companies Inc /De/ Consumer Cyclical	Reduced	9,214	-320	$1,471,475	+0.5%	0.35%
MDT	Medtronic plc Healthcare	Held	15,885	0	$1,376,435	−9.8%	0.33%
CVX	Chevron Corp Energy	Held	6,045	0	$1,250,710	+35.8%	0.30%
QQQ	Invesco Qqq Trust, Series 1	Held	2,084	0	$1,202,843	−6.0%	0.29%
PSX	Phillips 66 Energy	Held	6,500	0	$1,184,170	+41.2%	0.29%
LLY	ELI LILLY & Co Healthcare	Held	1,250	0	$1,149,712	−14.4%	0.28%
CNC	Centene Corp Healthcare	Reduced	34,795	-500	$1,139,188	−21.6%	0.27%
HD	Home Depot, Inc. Consumer Cyclical	Reduced	3,275	-129	$1,077,114	−8.0%	0.26%
UPS	United Parcel Service Inc Industrials	Held	9,947	0	$978,585	−0.8%	0.24%
ONIT	Onity Group Inc. Financial Services	Held	24,798	0	$973,817	−14.2%	0.23%
COR	Cencora, Inc. Healthcare	Held	3,045	0	$956,556	−7.0%	0.23%
KMB	Kimberly Clark Corp Consumer Defensive	Held	9,321	0	$899,196	−4.4%	0.22%
CMCSA	Comcast Corp Communication Services	Held	30,755	0	$882,976	+2.5%	0.21%
MMM	3M Co Industrials	Held	5,615	0	$815,466	−9.3%	0.20%
DIS	Walt Disney Co Communication Services	Added	8,261	+2,671	$796,195	+25.2%	0.19%
SWK	Stanley Black & Decker, Inc. Industrials	Held	10,555	0	$750,038	−4.3%	0.18%
CCK	Crown Holdings, Inc. Consumer Cyclical	Held	7,421	0	$743,955	−2.6%	0.18%
ABBV	AbbVie Inc. Healthcare	Held	3,390	0	$737,291	−4.8%	0.18%
PEP	Pepsico Inc Consumer Defensive	Held	4,631	0	$719,147	+8.2%	0.17%
CTAS	Cintas Corp Industrials	Held	4,004	0	$677,236	−10.1%	0.16%
ITW	Illinois Tool Works Inc Industrials	Held	2,305	0	$599,968	+5.7%	0.14%
BDX	Becton Dickinson & Co Healthcare	Reduced	3,396	-92	$533,953	+0.3%	0.13%
GD	General Dynamics Corp Industrials	Held	1,554	0	$533,363	+1.9%	0.13%
STZ	Constellation Brands, Inc. Consumer Defensive	Held	3,550	0	$532,500	+8.7%	0.13%
NVDA	Nvidia Corp Technology	Added	3,044	+1,549	$530,873	+90.4%	0.13%
MCD	Mcdonalds Corp Consumer Cyclical	Reduced	1,652	-1,174	$513,425	−40.6%	0.12%
APH	Amphenol Corp /De/ Technology	Added	3,851	+1,673	$486,573	+65.3%	0.12%
IBM	International Business Machines Corp Technology	Held	1,822	0	$441,634	−18.2%	0.11%
AEG	Aegon Ltd. Financial Services	Held	57,015	0	$413,928	−5.8%	0.10%
KO	Coca Cola Co Consumer Defensive	Held	5,200	0	$395,460	+8.8%	0.10%