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Asset Manager ← All Institutions

Miller Investment Management, LP

ONE TOWER BRIDGE SUITE 1500, WEST CONSHOHOCKEN, PA 19428 • 610-834-9820

Q2 2025 · Filed 2025-08-06
Market Value
$908M
+5.6%
Holdings
95
-3
New Purchases
2
Added To
6
Closed
3
Reduced
23
Top 10 Concentration
72.5%
Turnover
5.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
META 4.97% 4.12% +0.85% $45M
SPY 21.45% 20.61% +0.84% $195M
SMH 3.66% 2.92% +0.73% $33M
MSFT 1.83% 1.47% +0.36% $17M
EFA 8.08% 7.89% +0.19% $73M
VV 1.96% 1.77% +0.19% $18M
GOOGL 1.80% 1.64% +0.16% $16M
XLC 2.28% 2.18% +0.11% $21M
URI 1.00% 0.90% +0.10% $9M
AMZN 1.18% 1.08% +0.09% $11M
ORCL 0.24% 0.16% +0.08% $2M
JPM 0.60% 0.54% +0.06% $5M
EMR 0.45% 0.39% +0.06% $4M
CAH 0.43% 0.38% +0.06% $4M
IWR 2.30% 2.27% +0.03% $21M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
BRK-B 8.84% 10.32% -1.48% $80M
BILS 12.13% 12.82% -0.68% $110M
BBH 1.37% 1.68% -0.31% $12M
VGSH 6.70% 7.00% -0.30% $61M
XLB 0.38% 0.54% -0.16% $3M
LEN 1.20% 1.33% -0.13% $11M
IBB 1.14% 1.22% -0.08% $10M
XLP 0.11% 0.19% -0.08% $1M
XLV 2.05% 2.12% -0.07% $19M
GSPY 0.36% 0.43% -0.07% $3M
DHI 1.23% 1.29% -0.06% $11M
NVR 1.28% 1.34% -0.05% $12M
JNJ 0.36% 0.41% -0.05% $3M
QTEC 1.63% 1.67% -0.05% $15M
BDX 0.10% 0.14% -0.04% $876K

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 85.7%
Communication Services 6.3%
Industrials 2.1%
Technology 2.0%
Healthcare 1.8%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 28 $401M 44.2%
Large Cap 57 $350M 38.5%
Mid Cap 6 $140M 15.4%
Small Cap 2 $16M 1.7%
Micro Cap 2 $1M 0.1%

Portfolio Analytics

Avg Market Cap
$390.8B
Median Market Cap
$75.7B
Avg P/E
28.3
Median P/E
23.7
Avg Dividend Yield
0.02%
Avg Beta
0.87
# Stocks
62
# ETFs / Funds
33

Top Holdings (95 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 SPY 21.45% 315,237 $195M $617.85 $18M -1,535 -0.5%
2 BILS 12.13% 1,108,066 $110M $99.43 -$32K +342 +0.0%
3 BRK-B 8.84% 165,240 $80M $485.77 -$9M -1,453 -0.9%
4 EFA 8.08% 820,370 $73M $89.39 $6M -9,334 -1.1%
5 VGSH 6.70% 1,034,743 $61M $58.78 $661K +9,674 +0.9%
6 META 4.97% 61,110 $45M $738.09 $10M -324 -0.5%
7 SMH 3.66% 119,031 $33M $278.88 $8M +124 +0.1%
8 IWR 2.30% 226,917 $21M $91.97 $1M -2,589 -1.1%
9 XLC 2.28% 191,160 $21M $108.53 $2M -2,985 -1.5%
10 XLV 2.05% 138,216 $19M $134.79 $373K +13,179 +10.5%
11 VV 1.96% 62,225 $18M $285.30 $3M +3,049 +5.2%
12 MSFT 1.83% 33,410 $17M $497.41 $4M -258 -0.8%
13 GOOGL 1.80% 92,881 $16M $176.23 $2M +1,506 +1.6%
14 QTEC 1.63% 69,393 $15M $212.83 $394K -13,431 -16.2%
15 BBH 1.37% 81,432 $12M $153.28 -$2M -10,373 -11.3%
16 NVR 1.28% 1,577 $12M $7,385.66 $158K -9 -0.6%
17 DHI 1.23% 86,693 $11M $128.92 $48K -844 -1.0%
18 LEN 1.20% 98,536 $11M $110.61 -$512K -879 -0.9%
19 AMZN 1.18% 48,655 $11M $219.39 $1M -264 -0.5%
20 IBB 1.14% 81,949 $10M $126.51 -$129K -115 -0.1%
21 URI 1.00% 12,082 $9M $753.40 $1M -328 -2.6%
22 JPM 0.60% 18,935 $5M $289.91 $845K
23 VIG 0.54% 23,831 $5M $204.67 $255K
24 WMT 0.52% 48,450 $5M $97.78 $484K
25 EMR 0.45% 30,375 $4M $133.33 $720K
26 PNC 0.44% 21,260 $4M $186.42 $226K
27 CAH 0.43% 23,453 $4M $168.00 $709K
28 XLB 0.38% 39,060 $3M $87.81 -$1M -15,101 -27.9%
29 VTI 0.38% 11,232 $3M $303.93 $320K -23 -0.2%
30 GSPY 0.36% 97,540 $3M $33.93 -$396K -22,993 -19.1%
31 JNJ 0.36% 21,304 $3M $152.75 -$279K
32 MDY 0.32% 5,201 $3M $566.48 $172K
33 WFC 0.30% 34,082 $3M $80.12 $284K
34 RTX 0.28% 17,500 $3M $146.02 $237K
35 DIA 0.28% 5,717 $3M $440.65 $119K
36 DE 0.28% 4,945 $3M $508.49 $194K
37 MDT 0.25% 26,165 $2M $87.17 -$70K
38 ORCL 0.24% 9,823 $2M $218.63 $774K
39 VEU 0.22% 30,290 $2M $67.22 $199K
40 XLF 0.21% 37,042 $2M $52.37 $95K
41 AAPL 0.21% 9,418 $2M $205.17 -$170K -45 -0.5%
42 CNC 0.21% 35,295 $2M $54.28 -$227K
43 KMB 0.21% 14,626 $2M $128.92 -$195K
44 CMCSA 0.19% 49,535 $2M $35.69 -$60K
45 IWM 0.19% 7,898 $2M $215.79 $129K
46 UPS 0.19% 16,707 $2M $100.94 -$151K
47 CVX 0.16% 10,220 $1M $143.19 -$246K
48 MMM 0.16% 9,490 $1M $152.24 $51K
49 VOO 0.16% 2,529 $1M $568.03 $137K
50 AMGN 0.16% 5,098 $1M $279.21 -$165K
51 DGX 0.15% 7,586 $1M $179.63 $79K
52 HD 0.14% 3,404 $1M $366.64 $511
53 SWK 0.13% 17,845 $1M $67.75 -$163K
54 MRP 0.13% 42,152 $1M $28.51 -$109K -7,290 -14.7%
55 DOV 0.13% 6,542 $1M $183.23 $49K
56 TJX 0.13% 9,534 $1M $123.49 $16K
57 QQQ 0.13% 2,084 $1M $551.64 $172K
58 XLP 0.11% 12,727 $1M $80.97 -$616K -7,432 -36.9%
59 STZ 0.11% 6,000 $976K $162.68 -$125K
60 LLY 0.11% 1,250 $974K $779.53 -$58K
61 ITW 0.11% 3,885 $961K $247.25 -$3K
62 ONIT 0.10% 24,798 $947K $38.17 $145K
63 ABC 0.10% 3,045 $913K $299.85 $66K
64 VEA 0.10% 15,842 $903K $57.01 $72K -500 -3.1%
65 CTAS 0.10% 4,004 $892K $222.87 $69K
66 BDX 0.10% 5,087 $876K $172.25 -$289K
67 MCD 0.09% 2,826 $826K $292.17 -$57K
68 GPC 0.09% 6,570 $797K $121.31 $14K
69 BIL 0.09% 8,679 $796K $91.73
70 PSX 0.09% 6,500 $775K $119.30 -$27K
71 CCK 0.08% 7,421 $764K $102.98 $102K
72 IWD 0.07% 3,368 $654K $194.23 $20K
73 AMLP 0.07% 13,356 $653K $48.86 -$41K
74 ABBV 0.07% 3,390 $629K $185.62 -$81K
75 PEP 0.07% 4,631 $611K $132.04 -$83K
76 ACN 0.06% 1,833 $548K $298.89 -$24K
77 IBM 0.06% 1,822 $537K $294.78 $84K
78 AJG 0.06% 1,672 $535K $320.12 -$42K
79 GD 0.05% 1,554 $453K $291.66 $30K
80 DIS 0.05% 3,523 $437K $124.01 $89K
81 CARR 0.05% 5,840 $427K $73.19 $57K
82 AVY 0.04% 2,230 $391K $175.47 -$6K
83 KO 0.04% 5,275 $373K $70.75 -$5K
84 NKE 0.04% 4,771 $339K $71.04 $36K
85 XBI 0.03% 3,435 $285K $82.93 $6K
86 XOM 0.03% 2,390 $258K $107.80 -$27K
87 EFG 0.03% 2,250 $252K $112.00 $27K
88 GOOG 0.03% 1,320 $234K $177.39 $28K
89 QCOM 0.03% 1,448 $231K $159.26 $8K
90 BLK 0.02% 211 $221K $1,049.25 +211 NEW
91 PAWZ 0.02% 3,533 $205K $57.92 +3,533 NEW
92 XLK 0.02% 793 $201K $253.23 $525 -177 -18.2%
93 COWZ —% -$260K -4,753 -100.0% SOLD
94 CI —% -$204K -620 -100.0% SOLD
95 DHR —% -$203K -992 -100.0% SOLD

New Positions

SymbolValue% Port
BLK $221K 0.02%
PAWZ $205K 0.02%

Sold Out Positions

SymbolValue% Port
DHR —%
CI —%
COWZ —%
View SEC EDGAR Filings for Miller Investment Management, LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms