MILFORD FUNDS LTD

CIK

1775715

Location

AUCKLAND, Q2

Portfolio Value

Small $419,836,401

Diversification

Diversified

Filing Date

Global Rank

#714 / 8,586 ▲ 1

Top Industry

Semiconductors 13.5%

3Y Alpha vs SPY

-30.4%

Period ended 3 months ago

Filed May 14, 2026 · 33d

2 quarters · since Dec 2025

Clone Performance

Feb 2026–Jun 2026 · vs SPY

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

Cloned portfolio

+2.3%

SPY

+11.2%

Annualised alpha

-30.4%

Max drawdown

−9.2%

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

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

Top Position

6.0%

−0.9 pts

Top 5

26.0%

+1.1 pts

Top 10

44.0%

+2.9 pts

HHI

289

Diversified+18

Portfolio Trend

2 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	29.0%	$1,329,500,458	13
Industrials	12.7%	$584,071,528	9
Healthcare	9.7%	$445,432,881	10
Financial Services	9.3%	$424,247,261	10
Consumer Cyclical	9.2%	$419,836,401	7
Real Estate	8.2%	$373,932,495	6
Energy	7.9%	$361,894,525	7
Utilities	5.8%	$265,510,725	6
Communication Services	4.7%	$216,694,121	2
Basic Materials	2.4%	$109,719,480	2
Unclassified	0.7%	$32,810,400	1
Consumer Defensive	0.4%	$19,340,826	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

24 positions

Ticker	Company	Δ Shares	Shares	Value
BSX	Boston Scientific Corp	+1,394,942	2,210,221	$138,691,367
SHEL	Shell plc	+1,239,193	2,209,496	$205,483,128
ARMK	Aramark	+1,122,429	6,038,431	$244,797,992
BP	Bp PLC	+640,000	880,000	$41,360,000
RYAAY	Ryanair Holdings PLC	+462,103	1,007,594	$58,238,933
NVDA	Nvidia Corp	+459,851	1,222,247	$213,159,876
PLD	Prologis, Inc.	+279,526	372,572	$49,246,566
NFLX	Netflix Inc	+274,398	910,825	$87,575,823
TOL	Toll Brothers, Inc.	+245,324	354,987	$48,445,075
INTU	Intuit Inc.	+211,051	380,478	$164,511,077
GXO	GXO Logistics, Inc.	+178,435	1,000,062	$51,853,214
TSM	Taiwan Semiconductor Manufacturing Co Ltd	+149,028	641,823	$216,904,082
CNP	Centerpoint Energy Inc	+125,000	329,816	$14,234,858
AVGO	Broadcom Inc.	+88,193	253,162	$78,356,170
META	Meta Platforms, Inc.	+82,410	225,680	$129,118,298
TMO	Thermo Fisher Scientific Inc.	+81,527	165,244	$81,222,383
MSFT	Microsoft Corp	+63,022	739,929	$273,899,517
HCA	HCA Healthcare, Inc.	+49,052	161,698	$76,521,961
ICE	Intercontinental Exchange, Inc.	+41,979	197,054	$30,992,653
RMD	Resmed Inc	+32,000	150,000	$33,672,000
MCD	Mcdonalds Corp	+21,738	70,990	$22,062,982
BDX	Becton Dickinson & Co	+10,000	279,491	$43,944,369
TDG	TransDigm Group INC	+6,569	38,083	$44,136,673
LNG	Cheniere Energy, Inc.	+5,000	63,680	$18,069,836
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
GPK	Graphic Packaging Holding Co	−1,700,000	1,180,110	$11,730,293
APG	APi Group Corp	−1,069,245	2,184,452	$88,513,995
BAC	Bank Of America Corp /De/	−967,425	3,191,472	$155,584,260
NGG	National Grid PLC	−594,898	1,773,663	$150,051,889
NEM	NEWMONT Corp /DE/	−584,007	435,014	$47,090,265
RIO	Rio Tinto PLC	−492,515	671,339	$62,629,215
TRU	TransUnion	−345,310	123,797	$8,565,514
DUK	Duke Energy CORP	−282,000	553,293	$72,448,185
NOW	ServiceNow, Inc.	−213,523	22,112	$2,311,809
IBKR	Interactive Brokers Group, Inc.	−177,419	239,311	$16,050,588
CFG	Citizens Financial Group Inc/Ri	−142,000	93,000	$5,577,210
IQV	Iqvia Holdings Inc.	−135,616	6,732	$1,148,075
DHR	Danaher Corp /De/	−133,331	136,089	$25,802,474
JLL	Jones Lang Lasalle Inc	−111,944	144,000	$43,822,080
SPGI	S&P Global Inc.	−107,297	52,837	$22,473,689
JPM	Jpmorgan Chase & Co	−102,460	188,515	$55,453,572
PHM	Pultegroup Inc/Mi/	−92,833	490,308	$57,665,123
CCI	Crown Castle Inc.	−89,158	1,809,742	$147,150,122
EFX	Equifax Inc	−78,904	37,867	$6,818,710
AAPL	Apple Inc.	−76,105	541,394	$137,400,383
AJG	Arthur J. Gallagher & Co.	−73,511	358,577	$77,660,606
MU	Micron Technology Inc	−45,722	261,704	$88,414,079
UNP	Union Pacific Corp	−43,937	218,283	$52,959,821
WMT	Walmart Inc.	−43,640	155,623	$19,340,826
CBRE	Cbre Group, Inc.	−40,174	105,564	$14,299,699
No positions match the current search.

New Positions

Positions the filer opened this quarter

10 positions

Ticker	Company	Shares	Value
COP	Conocophillips	657,947	$86,849,004
AMAT	Applied Materials Inc /De	79,545	$27,187,685
CP	Canadian Pacific Kansas City Ltd/Cn	299,834	$23,584,942
WAT	Waters Corp /De/	66,669	$19,854,028
AMD	Advanced Micro Devices Inc	87,015	$17,701,461
HLT	Hilton Worldwide Holdings Inc.	54,000	$16,420,320
CARR	CARRIER GLOBAL Corp	233,835	$13,167,248
SLB	Slb Limited/Nv	127,504	$6,552,430
TRP	Tc Energy Corp	29,163	$1,825,603
CEG	Constellation Energy Corp	1,500	$418,875
No positions match the current search.

Sold Out

Positions the filer fully exited

11 positions

Ticker	Company	Shares	Value
CCL	Carnival Corp Ltd.	3,298,670	$100,741,381
ELV	Elevance Health, Inc.	132,628	$46,492,745
VMC	Vulcan Materials CO	99,520	$28,385,094
XPO	XPO, Inc.	180,029	$24,467,741
ROP	Roper Technologies Inc	47,596	$21,186,407
WMS	Advanced Drainage Systems, Inc.	108,000	$15,641,640
BWIN	Baldwin Insurance Group, Inc.	346,319	$8,322,045
NVO	Novo Nordisk A S	156,298	$7,952,442
NICE	NICE Ltd.	66,797	$7,550,732
T	At&T Inc.	280,000	$6,955,200
KLAC	Kla Corp	1,424	$1,730,273
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

7 positions · $419,836,401 total · Consumer Cyclical only · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	1,176,468	-8,153	$245,022,990	−10.4%	58.36%
PHM	Pultegroup Inc/Mi/ Consumer Cyclical	Reduced	490,308	-92,833	$57,665,123	−15.7%	13.74%
TOL	Toll Brothers, Inc. Consumer Cyclical	Added	354,987	+245,324	$48,445,075	+226.7%	11.54%
MCD	Mcdonalds Corp Consumer Cyclical	Added	70,990	+21,738	$22,062,982	+46.6%	5.26%
LOW	Lowes Companies Inc Consumer Cyclical	Held	78,253	0	$18,489,618	−2.0%	4.40%
HLT	Hilton Worldwide Holdings Inc. Consumer Cyclical	NEW	54,000	NEW	$16,420,320	NEW	3.91%
GPK	Graphic Packaging Holding Co Consumer Cyclical	Reduced	1,180,110	-1,700,000	$11,730,293	−73.0%	2.79%