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MIM

Miller Investment Management Portfolio holdings

AUM $1.01B
1-Year Est. Return 13.96%
This Fund
S&P 500
This Quarter Est. Return
+1.91%
1 Year Est. Return
+13.96%
3 Year Est. Return
+53.98%
5 Year Est. Return
+59.96%
10 Year Est. Return
+247.64%
AUM
$1.02B
AUM Growth
+$28.8M
Cap. Flow
+$13.7M
Cap. Flow %
1.34%
Top 10 Hldgs %
71.69%
Holding
99
New
1
Increased
10
Reduced
27
Closed
10

Top Buys

Rank Stock Value
1
VGIT icon
Vanguard Intermediate-Term Treasury ETF
VGIT
+$70.3M
2
VGSH icon
Vanguard Short-Term Treasury ETF
VGSH
+$24.8M
3
VBIL
Vanguard 0-3 Month Treasury Bill ETF
VBIL
+$10.8M
4
XLV icon
State Street Health Care Select Sector SPDR ETF
XLV
+$6.59M
5
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$5.77M

Top Sells

Rank Stock Value
1
BILS icon
State Street SPDR Bloomberg 3-12 Month T-Bill ETF
BILS
+$17.6M
2
QTEC icon
First Trust NASDAQ-100 Technology Index Fund
QTEC
+$13.3M
3
EFA icon
iShares MSCI EAFE ETF
EFA
+$9.67M
4
BBH icon
VanEck Biotech ETF
BBH
+$7.74M
5
SMH icon
VanEck Semiconductor ETF
SMH
+$7.21M

Sector Composition

Rank Sector Weight
1 Financials 8.56%
2 Communication Services 6.51%
3 Consumer Discretionary 4.96%
4 Technology 2.28%
5 Industrials 2.05%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
State Street SPDR S&P 500 ETF Trust
SPY
$790B
$198M 19.38%
290,954
-8,719
-3% -$5.89M
BILS icon
2
State Street SPDR Bloomberg 3-12 Month T-Bill ETF
BILS
$3.89B
$100M 9.78%
1,009,090
-177,287
-15% -$17.6M
VGSH icon
3
Vanguard Short-Term Treasury ETF
VGSH
$29.3B
$87.1M 8.51%
1,483,390
+421,368
+40% +$24.8M
BRK.B icon
4
Berkshire Hathaway Class B
BRK.B
$1.1T
$77.4M 7.56%
154,072
-11,661
-7% -$5.8M
VGIT icon
5
Vanguard Intermediate-Term Treasury ETF
VGIT
$41.6B
$71.4M 6.97%
1,190,950
+1,168,632
+5,236% +$70.3M
EFA icon
6
iShares MSCI EAFE ETF
EFA
$78B
$68.8M 6.71%
715,962
-101,978
-12% -$9.67M
META icon
7
Meta Platforms (Facebook)
META
$1.42T
$37.4M 3.65%
56,593
-4,261
-7% -$2.85M
SMH icon
8
VanEck Semiconductor ETF
SMH
$65.2B
$34.8M 3.4%
96,645
-20,544
-18% -$7.21M
XLV icon
9
State Street Health Care Select Sector SPDR ETF
XLV
$41.9B
$30.7M 3%
198,322
+44,017
+29% +$6.59M
EWJ icon
10
iShares MSCI Japan ETF
EWJ
$21.9B
$27.9M 2.73%
345,720
-20,822
-6% -$1.71M
GOOGL icon
11
Alphabet (Google) Class A
GOOGL
$4.36T
$27.3M 2.67%
87,372
-5,476
-6% -$1.56M
XLC icon
12
State Street Communication Services Select Sector SPDR ETF
XLC
$22.3B
$19.9M 1.94%
168,967
-17,554
-9% -$2.02M
VV icon
13
Vanguard Morningstar Large-Cap ETF
VV
$52.4B
$19.8M 1.93%
62,851
+736
+1% +$230K
IWR icon
14
iShares Russell Mid-Cap ETF
IWR
$56B
$18.7M 1.83%
194,565
-31,453
-14% -$3.02M
MSFT icon
15
Microsoft
MSFT
$3.45T
$16.8M 1.64%
34,755
+996
+3% +$499K
PPH icon
16
VanEck Pharmaceutical ETF
PPH
$959M
$15.8M 1.54%
152,936
-28,982
-16% -$2.82M
VBIL
17
Vanguard 0-3 Month Treasury Bill ETF
VBIL
$9.4B
$13.6M 1.33%
180,900
+143,400
+382% +$10.8M
DHI icon
18
D.R. Horton
DHI
$40B
$12.4M 1.21%
86,119
-1,508
-2% -$230K
AMZN icon
19
Amazon
AMZN
$2.92T
$12M 1.17%
51,797
+2,446
+5% +$560K
NVR icon
20
NVR
NVR
$16.5B
$11.5M 1.13%
1,582
-25
-2% -$187K
LEN icon
21
Lennar Class A
LEN
$19.8B
$9.94M 0.97%
96,724
-4,079
-4% -$493K
VEA icon
22
Vanguard FTSE Developed Markets ETF
VEA
$229B
$9.84M 0.96%
157,476
+94,137
+149% +$5.77M
URI icon
23
United Rentals
URI
$67.2B
$9.47M 0.93%
11,707
– –
BBH icon
24
VanEck Biotech ETF
BBH
$400M
$7.37M 0.72%
38,925
-41,833
-52% -$7.74M
IBB icon
25
iShares Biotechnology ETF
IBB
$9.34B
$6.32M 0.62%
37,446
-39,221
-51% -$6.37M
1
2 3 4

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Miller Investment Management's Q4 2025 Portfolio in Review

As of Q4 2025, Miller Investment Management held 99 positions worth $1.02B, up 2.9% from $995M the previous quarter. Its ten largest holdings account for 72% of the portfolio.

Miller Investment Management's Q4 2025 filing shows 1 new, 10 increased, 27 reduced and 10 closed positions. Its largest new stake was Danaher: 992 shares worth $227K. The largest sale was State Street SPDR Bloomberg 3-12 Month T-Bill ETF, an estimated $17.6M.

By sector, the portfolio is most concentrated in Financials at 8.6% of assets, down from 9.4% a quarter earlier, followed by Communication Services and Consumer Discretionary.

  • Miller Investment Management's largest Q4 2025 buy was Danaher: 992 shares worth $227K.
  • Miller Investment Management added most to Vanguard Intermediate-Term Treasury ETF in Q4 2025, an estimated $70.3M increase.
  • Miller Investment Management's biggest Q4 2025 reduction was State Street SPDR Bloomberg 3-12 Month T-Bill ETF, cutting an estimated $17.6M.
  • Miller Investment Management fully exited First Trust NASDAQ-100 Technology Index Fund in Q4 2025, selling an estimated $13.3M.
  • Miller Investment Management's ten largest holdings make up 72% of its $1.02B portfolio in Q4 2025.
  • Miller Investment Management opened 1 new position and closed 10 in Q4 2025.
  • Miller Investment Management's portfolio value rose 2.9% quarter-over-quarter to $1.02B.

Based on Miller Investment Management's 13F filing for Q4 2025, filed 11 Feb 2026.