Milford Funds Ltd.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), Milford Funds Ltd. reported 75 stock positions worth $4.8 billion. Its top holding was Microsoft (MSFT) at 5.7% of the portfolio, followed by Amazon.com (AMZN, 5.1%) and Aramark (ARMK, 5.1%). Compared with Q4 2025, it opened 10 new positions, sold out of 11, added to 24 and reduced 32. The biggest buy was Shell PLC-ADR (SHEL, shares +128%) and the biggest sale Alphabet Class C (GOOG, shares −36%).
- Most Recent 13F
- Q2 2026
- Location
- AUCKLAND, Q2
- CIK
- 0001775715
- Portfolio Value
- $4.8B (Q1 2026)
- SEC Filing
- 0001775715-26-000007 ↗ filed May 14, 2026
Holdings Value
Holdings 75 stocks · $4.8B
| MSFT Microsoft Corp. | 5.74% | 739,929 | $273.9M | Add +9.3% |
| AMZN Amazon.com Inc. | 5.13% | 1,176,468 | $245.0M | Reduce -0.7% |
| ARMK Aramark | 5.13% | 6,038,431 | $244.8M | Add +22.8% |
| TSM Taiwan Semiconductor-SP ADR | 4.55% | 641,823 | $216.9M | Add +30.2% |
| NVDA Nvidia Corp. | 4.47% | 1,222,247 | $213.2M | Add +60.3% |
| SHEL Shell PLC-ADR | 4.31% | 2,209,496 | $205.5M | Add +127.7% |
| GOOG Alphabet Inc. Class C | 3.75% | 623,929 | $179.0M | Reduce -35.5% |
| INTU Intuit Inc. | 3.45% | 380,478 | $164.5M | Add +124.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 3.26% | 3,191,472 | $155.6M | Reduce -23.3% |
| NGG National Grid PLC-SP ADR | 3.14% | 1,773,663 | $150.1M | Reduce -25.1% |
| CCI Crown Castle Inc. | 3.08% | 1,809,742 | $147.2M | Reduce -4.7% |
| BSX Boston Scientific Corp. | 2.91% | 2,210,221 | $138.7M | Add +171.1% |
| AAPL Apple Inc. | 2.88% | 541,394 | $137.4M | Reduce -12.3% |
| META Meta Platforms Inc. Class A | 2.71% | 225,680 | $129.1M | Add +57.5% |
| AMT American Tower Corp. | 2.25% | 621,018 | $107.2M | Reduce -5.7% |
| CRM Salesforce Inc. | 1.94% | 495,982 | $92.6M | Reduce -7.0% |
| APG Api Group Corp. | 1.85% | 2,184,452 | $88.5M | Reduce -32.9% |
| MU Micron Technology Inc. | 1.85% | 261,704 | $88.4M | Reduce -14.9% |
| NFLX Netflix Inc. | 1.84% | 910,825 | $87.6M | Add +43.1% |
| COP Conocophillips | 1.82% | 657,947 | $86.8M | New |
| TMO Thermo Fisher Scientific Inc. | 1.70% | 165,244 | $81.2M | Add +97.4% |
| AVGO Broadcom Inc. | 1.64% | 253,162 | $78.4M | Add +53.5% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 1.63% | 358,577 | $77.7M | Reduce -17.0% |
| HCA HCA Healthcare Inc. | 1.60% | 161,698 | $76.5M | Add +43.5% |
| DUK Duke Energy Corp. | 1.52% | 553,293 | $72.4M | Reduce -33.8% |
| RIO Rio Tinto PLC-Spon ADR | 1.31% | 671,339 | $62.6M | Reduce -42.3% |
| RYAAY Ryanair Holdings PLC-SP ADR | 1.22% | 1,007,594 | $58.2M | Add +84.7% |
| PHM Pultegroup Inc. | 1.21% | 490,308 | $57.7M | Reduce -15.9% |
| JPM JPMorgan Chase & Co. | 1.16% | 188,515 | $55.5M | Reduce -35.2% |
| UNP Union Pacific Corp. | 1.11% | 218,283 | $53.0M | Reduce -16.8% |
| GXO Gxo Logistics Inc. | 1.09% | 1,000,062 | $51.9M | Add +21.7% |
| PLD Prologis Inc. | 1.03% | 372,572 | $49.2M | Add +300.4% |
| TOL Toll Brothers Inc. | 1.02% | 354,987 | $48.4M | Add +223.7% |
| NEM Newmont Corp. | 0.99% | 435,014 | $47.1M | Reduce -57.3% |
| TDG Transdigm Group Inc. | 0.92% | 38,083 | $44.1M | Add +20.8% |
| BDX Becton Dickinson and Co. | 0.92% | 279,491 | $43.9M | Add +3.7% |
| JLL Jones Lang Lasalle Inc. | 0.92% | 144,000 | $43.8M | Reduce -43.7% |
| MA Mastercard Inc. Class A | 0.91% | 86,912 | $43.4M | Reduce -20.9% |
| BP BP PLC-Spons ADR | 0.87% | 880,000 | $41.4M | Add +266.7% |
| RMD Resmed Inc. | 0.71% | 150,000 | $33.7M | Add +27.1% |
| CP Canadian Pacific Kansas City | 0.69% | 299,834 | $32.8M | New |
| FISV Fiserv Inc. | 0.69% | 588,000 | $32.8M | Reduce -3.3% |
| ICE Intercontinental Exchange Inc. | 0.65% | 197,054 | $31.0M | Add +27.1% |
| AMAT Applied Materials Inc. | 0.57% | 79,545 | $27.2M | New |
| AEE Ameren Corporation | 0.57% | 245,838 | $27.0M | No change |
| DHR Danaher Corp. | 0.54% | 136,089 | $25.8M | Reduce -49.5% |
| LLY Eli Lilly & Co. | 0.48% | 24,761 | $22.8M | Reduce -24.4% |
| SPGI S&P Global Inc. | 0.47% | 52,837 | $22.5M | Reduce -67.0% |
| MCD McDonald's Corp. | 0.46% | 70,990 | $22.1M | Add +44.1% |
| WAT Waters Corp. | 0.42% | 66,669 | $19.9M | New |
| WMT Walmart Inc. | 0.41% | 155,623 | $19.3M | Reduce -21.9% |
| LOW Lowe's Cos Inc. | 0.39% | 78,253 | $18.5M | No change |
| LNG Cheniere Energy Inc. | 0.38% | 63,680 | $18.1M | Add +8.5% |
| AMD Advanced Micro Devices | 0.37% | 87,015 | $17.7M | New |
| HLT Hilton Worldwide Holdings Inc. | 0.34% | 54,000 | $16.4M | New |
| IBKR Interactive Brokers Gro Class A | 0.34% | 239,311 | $16.1M | Reduce -42.6% |
| CBRE CBRE Group Inc. Class A | 0.30% | 105,564 | $14.3M | Reduce -27.6% |
| CNP Centerpoint Energy Inc. | 0.30% | 329,816 | $14.2M | Add +61.0% |
| CARR Carrier Global Corp. | 0.28% | 233,835 | $13.2M | New |
| SBAC SBA Communications Corp. | 0.26% | 71,110 | $12.2M | No change |
| GPK Graphic Packaging Holding Co. | 0.25% | 1,180,110 | $11.7M | Reduce -59.0% |
| UBER Uber Technologies Inc. | 0.23% | 152,330 | $11.0M | No change |
| TRU Transunion | 0.18% | 123,797 | $8.6M | Reduce -73.6% |
| V Visa Inc. Class A | 0.18% | 28,000 | $8.5M | No change |
| EFX Equifax Inc. | 0.14% | 37,867 | $6.8M | Reduce -67.6% |
| SLB SLB Ltd. filed as SLB LIMITED | 0.14% | 127,504 | $6.6M | New |
| LIF LIFE360 Inc. | 0.13% | 149,737 | $6.1M | No change |
| CFG Citizens Financial Group | 0.12% | 93,000 | $5.6M | Reduce -60.4% |
| TRP TC Energy Corp. | 0.05% | 29,163 | $2.5M | New |
| NOW ServiceNow Inc. | 0.05% | 22,112 | $2.3M | Reduce -90.6% |
| HLN Haleon PLC-ADR | 0.04% | 180,000 | $1.8M | No change |
| KMI Kinder Morgan Inc. | 0.04% | 52,327 | $1.8M | No change |
| NEE Nextera Energy Inc. | 0.03% | 14,367 | $1.3M | No change |
| IQV Iqvia Holdings Inc. | 0.02% | 6,732 | $1.1M | Reduce -95.3% |
| CEG Constellation Energy | 0.01% | 1,500 | $419K | New |
Portfolio Sells Q4 2025 → Q1 2026
| GOOG Alphabet Inc. Class C | Reduce -35.5% | 3.75% | −2.21 |
| CCL Carnival Corp. | Sold out | 0.00% | −1.98 |
| BAC Bank of America Corp. | Reduce -23.3% | 3.26% | −1.23 |
| SPGI S&P Global Inc. | Reduce -67.0% | 0.47% | −1.17 |
| NEM Newmont Corp. | Reduce -57.3% | 0.99% | −1.01 |
| ELV Elevance Health Inc. | Sold out | 0.00% | −0.91 |
| CRM Salesforce Inc. | Reduce -7.0% | 1.94% | −0.83 |
| JLL Jones Lang Lasalle Inc. | Reduce -43.7% | 0.92% | −0.77 |
| JPM JPMorgan Chase & Co. | Reduce -35.2% | 1.16% | −0.68 |
| DHR Danaher Corp. | Reduce -49.5% | 0.54% | −0.67 |
| NOW ServiceNow Inc. | Reduce -90.6% | 0.05% | −0.66 |
| TRU Transunion | Reduce -73.6% | 0.18% | −0.61 |
| IQV Iqvia Holdings Inc. | Reduce -95.3% | 0.02% | −0.61 |
| GPK Graphic Packaging Holding Co. | Reduce -59.0% | 0.25% | −0.61 |
| APG Api Group Corp. | Reduce -32.9% | 1.85% | −0.59 |
| AJG Arthur J Gallagher & Co. | Reduce -17.0% | 1.63% | −0.57 |
| VMC Vulcan Materials Co. | Sold out | 0.00% | −0.56 |
| RIO Rio Tinto PLC-Spon ADR | Reduce -42.3% | 1.31% | −0.52 |
| XPO Xpo Inc. | Sold out | 0.00% | −0.48 |
| NGG National Grid PLC-SP ADR | Reduce -25.1% | 3.14% | −0.45 |
| AAPL Apple Inc. | Reduce -12.3% | 2.88% | −0.42 |
| ROP Roper Technologies Inc. | Sold out | 0.00% | −0.42 |
| DUK Duke Energy Corp. | Reduce -33.8% | 1.52% | −0.40 |
| EFX Equifax Inc. | Reduce -67.6% | 0.14% | −0.35 |
| MA Mastercard Inc. Class A | Reduce -20.9% | 0.91% | −0.32 |
| WMS Advanced Drainage Systems Inc. | Sold out | 0.00% | −0.31 |
| AMZN Amazon.com Inc. | Reduce -0.7% | 5.13% | −0.23 |
| CCI Crown Castle Inc. | Reduce -4.7% | 3.08% | −0.23 |
| LLY Eli Lilly & Co. | Reduce -24.4% | 0.48% | −0.21 |
| IBKR Interactive Brokers Gro Class A | Reduce -42.6% | 0.34% | −0.19 |
| BWIN Baldwin Insurance Group Inc./ | Sold out | 0.00% | −0.16 |
| CBRE CBRE Group Inc. Class A | Reduce -27.6% | 0.30% | −0.16 |
| NVO Novo-Nordisk A/S-Spons ADR | Sold out | 0.00% | −0.16 |
| CFG Citizens Financial Group | Reduce -60.4% | 0.12% | −0.15 |
| NICE Nice Ltd. - Spon ADR | Sold out | 0.00% | −0.15 |
| T AT&T Inc. | Sold out | 0.00% | −0.14 |
| PHM Pultegroup Inc. | Reduce -15.9% | 1.21% | −0.13 |
| FISV Fiserv Inc. | Reduce -3.3% | 0.69% | −0.11 |
| UNP Union Pacific Corp. | Reduce -16.8% | 1.11% | −0.08 |
| KLAC KLA Corp. | Sold out | 0.00% | −0.03 |
| WMT Walmart Inc. | Reduce -21.9% | 0.41% | −0.03 |
| AMT American Tower Corp. | Reduce -5.7% | 2.25% | −0.02 |
| MU Micron Technology Inc. | Reduce -14.9% | 1.85% | +0.13 |
Portfolio Buys Q4 2025 → Q1 2026
| SHEL Shell PLC-ADR | Add +127.7% | 4.31% | +2.91 |
| COP Conocophillips | New | 1.82% | +1.82 |
| NVDA Nvidia Corp. | Add +60.3% | 4.47% | +1.67 |
| TSM Taiwan Semiconductor-SP ADR | Add +30.2% | 4.55% | +1.60 |
| ARMK Aramark | Add +22.8% | 5.13% | +1.57 |
| BSX Boston Scientific Corp. | Add +171.1% | 2.91% | +1.38 |
| INTU Intuit Inc. | Add +124.6% | 3.45% | +1.24 |
| META Meta Platforms Inc. Class A | Add +57.5% | 2.71% | +0.85 |
| PLD Prologis Inc. | Add +300.4% | 1.03% | +0.80 |
| TMO Thermo Fisher Scientific Inc. | Add +97.4% | 1.70% | +0.75 |
| TOL Toll Brothers Inc. | Add +223.7% | 1.02% | +0.72 |
| BP BP PLC-Spons ADR | Add +266.7% | 0.87% | +0.70 |
| CP Canadian Pacific Kansas City | New | 0.69% | +0.69 |
| NFLX Netflix Inc. | Add +43.1% | 1.84% | +0.66 |
| HCA HCA Healthcare Inc. | Add +43.5% | 1.60% | +0.57 |
| AMAT Applied Materials Inc. | New | 0.57% | +0.57 |
| AVGO Broadcom Inc. | Add +53.5% | 1.64% | +0.52 |
| RYAAY Ryanair Holdings PLC-SP ADR | Add +84.7% | 1.22% | +0.45 |
| WAT Waters Corp. | New | 0.42% | +0.42 |
| AMD Advanced Micro Devices | New | 0.37% | +0.37 |
| HLT Hilton Worldwide Holdings Inc. | New | 0.34% | +0.34 |
| CARR Carrier Global Corp. | New | 0.28% | +0.28 |
| GXO Gxo Logistics Inc. | Add +21.7% | 1.09% | +0.24 |
| MCD McDonald's Corp. | Add +44.1% | 0.46% | +0.17 |
| ICE Intercontinental Exchange Inc. | Add +27.1% | 0.65% | +0.16 |
| LNG Cheniere Energy Inc. | Add +8.5% | 0.38% | +0.15 |
| RMD Resmed Inc. | Add +27.1% | 0.71% | +0.15 |
| CNP Centerpoint Energy Inc. | Add +61.0% | 0.30% | +0.14 |
| SLB SLB Ltd. | New | 0.14% | +0.14 |
| TDG Transdigm Group Inc. | Add +20.8% | 0.92% | +0.10 |
| TRP TC Energy Corp. | New | 0.05% | +0.05 |
| CEG Constellation Energy | New | 0.01% | +0.01 |
| BDX Becton Dickinson and Co. | Add +3.7% | 0.92% | −0.11 |
| MSFT Microsoft Corp. | Add +9.3% | 5.74% | −0.69 |