Mill Capital Management, LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 4, 2025), Mill Capital Management, LLC reported 120 stock positions worth $1.3 billion. Its top holding was Apple (AAPL) at 8.7% of the portfolio, followed by Microsoft (MSFT, 8.0%) and Berkshire Hathaway Class A (BRK.A, 6.9%). Compared with Q1 2025, it opened 2 new positions, sold out of 1, added to 26 and reduced 28. The biggest buy was Alphabet Class C (GOOG, shares +0%) and the biggest sale Berkshire Hathaway Class A (BRK.A, shares −2%).

Most Recent 13F
Q2 2026
Location
CONCORD, NC
CIK
0001901166
Portfolio Value
$1.3B (Q2 2025)
SEC Filing
0001398344-25-014452 ↗ filed Aug 4, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $1.2B Q1 2024 Q2 2024: $1.2B Q2 2024 Q3 2024: $1.3B Q3 2024 Q4 2024: $1.3B Q4 2024 Q1 2025: $1.2B Q1 2025 Q2 2025: $1.3B $1.3B Q2 2025 Q3 2025: $1.3B Q3 2025 Q4 2025: $1.4B Q4 2025 Q1 2026: $1.3B Q1 2026 Q2 2026: $1.5B Q2 2026

Holdings 120 stocks · $1.3B
AAPL Apple Inc. 8.67% 539,358 $110.7M Add +0.2%
MSFT Microsoft Corp. 8.02% 205,574 $102.3M Reduce -3.3%
BRK.A Berkshire Hathaway Inc. Class A 6.86% 120 $87.5M Reduce -1.6%
V Visa Inc. Class A 5.48% 196,883 $69.9M Reduce -2.7%
GOOG Alphabet Inc. Class C 5.28% 379,709 $67.4M Add +0.0%
JPM JPMorgan Chase & Co. 4.64% 204,137 $59.2M Reduce -1.9%
AMZN Amazon.com Inc. 3.27% 190,231 $41.7M Add +0.8%
AXP American Express Co. 3.13% 125,379 $40.0M Add +0.1%
TDG Transdigm Group Inc. 3.11% 26,107 $39.7M Reduce -0.3%
XOM Exxon Mobil Corp. 3.07% 363,241 $39.2M Add +0.2%
BRK.B Berkshire Hathaway Inc. Class B 2.91% 76,490 $37.2M Reduce -1.7%
BKNG Booking Holdings Inc. 2.57% 5,655 $32.7M Reduce -0.0%
TMO Thermo Fisher Scientific Inc. 2.53% 79,513 $32.2M Add +0.6%
UNP Union Pacific Corp. 2.33% 129,429 $29.8M Add +0.5%
AMT American Tower Corp. 2.11% 122,065 $27.0M Add +0.5%
ICE Intercontinental Exchange Inc. 2.03% 140,959 $25.9M Add +0.3%
FISV Fiserv Inc. 1.84% 135,993 $23.4M Add +0.2%
CPRT Copart Inc. 1.70% 440,694 $21.6M Add +0.4%
CMCSA Comcast Corp. Class A 1.67% 596,626 $21.3M Reduce -2.9%
MU Micron Technology Inc. 1.55% 160,335 $19.8M Add +0.3%
ZTS Zoetis Inc. 1.52% 124,430 $19.4M Add +0.6%
VRSN Verisign Inc. 1.51% 66,534 $19.2M Add +0.3%
LIN Linde PLC 1.45% 39,521 $18.5M Add +0.3%
CPAY Corpay Inc. 1.43% 54,938 $18.2M Add +0.4%
JNJ Johnson & Johnson 1.41% 118,172 $18.1M Add +0.6%
LH Labcorp Holdings Inc. 1.31% 63,627 $16.7M Add +0.4%
UNH Unitedhealth Group Inc. 1.23% 50,307 $15.7M Add +5.3%
LHX L3HARRIS Technologies Inc. 1.21% 61,721 $15.5M Add +0.5%
CRM Salesforce Inc. 1.17% 54,779 $14.9M Add +1.1%
ASML ASML Holding NV-NY Reg SHS 1.12% 17,899 $14.3M Add +1.3%
GOOGL Alphabet Inc. Class A 1.11% 80,466 $14.2M Reduce 0.0%
PM Philip Morris International 1.03% 72,297 $13.2M Reduce -2.8%
OTIS Otis Worldwide Corp. 1.00% 128,220 $12.7M Add +0.3%
TT Trane Technologies PLC 0.61% 17,829 $7.8M No change
WFC Wells Fargo & Co. 0.53% 85,155 $6.8M No change
MRK Merck & Co. Inc. 0.52% 84,597 $6.7M Reduce -2.3%
PG The Procter & Gamble Co. 0.47% 37,636 $6.0M No change
GE General Electric filed as GE AEROSPACE 0.39% 19,327 $5.0M No change
ETN Eaton Corp. PLC 0.33% 11,800 $4.2M No change
PFE Pfizer Inc. 0.32% 170,902 $4.1M Reduce -3.0%
CVX Chevron Corp. 0.31% 27,736 $4.0M No change
ELV Elevance Health Inc. 0.31% 10,142 $3.9M No change
MDLZ Mondelez International Inc. Class A 0.27% 51,942 $3.5M Reduce -4.8%
CAT Caterpillar Inc. 0.27% 8,999 $3.5M No change
ORCL Oracle Corp. 0.27% 15,697 $3.4M No change
MLM Martin Marietta Materials 0.27% 6,225 $3.4M No change
LRCX Lam Research Corp. 0.27% 35,000 $3.4M No change
DUK Duke Energy Corp. 0.24% 26,032 $3.1M Add +0.0%
HD Home Depot Inc. 0.21% 7,350 $2.7M No change
KO The Coca-Cola Co. 0.20% 35,679 $2.5M Reduce -1.8%
YUM Yum! Brands Inc. 0.20% 17,021 $2.5M No change
RSG Republic Services Inc. 0.20% 10,102 $2.5M No change
SHEL Shell PLC-ADR 0.19% 34,218 $2.4M No change
NSC Norfolk Southern Corp. 0.18% 9,138 $2.3M Reduce -0.5%
GEV GE Vernova Inc. 0.18% 4,386 $2.3M Reduce -0.3%
BMY Bristol-Myers Squibb Co. 0.17% 47,468 $2.2M No change
MMM 3M Co. 0.16% 13,185 $2.0M No change
TXN Texas Instruments Inc. 0.15% 9,500 $2.0M No change
SYK Stryker Corp. 0.15% 4,819 $1.9M No change
GS Goldman Sachs Group Inc. 0.14% 2,541 $1.8M Reduce -0.3%
COP Conocophillips 0.13% 18,866 $1.7M No change
EMR Emerson Electric Co. 0.13% 12,632 $1.7M No change
NEE Nextera Energy Inc. 0.13% 24,000 $1.7M No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.13% 35,152 $1.7M No change
MCD McDonald's Corp. 0.12% 5,129 $1.5M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.11% 11,800 $1.5M No change
LLY Eli Lilly & Co. 0.11% 1,802 $1.4M Reduce -0.1%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.10% 10,550 $1.3M Reduce -15.9%
CME Cme Group Inc. 0.10% 4,500 $1.2M No change
IR Ingersoll-Rand Inc. 0.10% 14,859 $1.2M No change
MSI Motorola Solutions Inc. 0.10% 2,910 $1.2M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.10% 4,116 $1.2M No change
LOW Lowe's Cos Inc. 0.09% 5,058 $1.1M No change
FCNCA First Citizens Bcshs Class A 0.08% 525 $1.0M No change
L Loews Corp. 0.08% 11,199 $1.0M No change
IAU iShares Gold Trust 0.08% 16,250 $1.0M No change
BDX Becton Dickinson and Co. 0.07% 5,542 $955K No change
CB Chubb Ltd. 0.07% 3,210 $930K No change
KMB Kimberly-Clark Corp. 0.07% 7,063 $911K No change
HON Honeywell International Inc. 0.07% 3,788 $882K No change
ABBV Abbvie Inc. 0.06% 4,382 $813K No change
IWR iShares Russell Mid-Cap ETF 0.06% 8,724 $802K No change
DEO Diageo PLC-Sponsored ADR 0.06% 7,924 $799K Reduce -15.2%
FITB Fifth Third Bancorp 0.06% 17,182 $707K Reduce -4.2%
PEP Pepsico Inc. 0.05% 5,289 $698K Reduce -4.1%
SPAB SS SPDR P Agg Bond ETF 0.05% 25,407 $650K New
ZBH Zimmer Biomet Holdings Inc. 0.05% 6,761 $617K No change
CMI Cummins Inc. 0.04% 1,665 $545K No change
NVS Novartis AG-Sponsored ADR 0.04% 4,438 $537K No change
GEHC GE Healthcare Technology 0.04% 7,055 $523K Reduce -0.0%
WEC WEC Energy Group Inc. 0.04% 4,824 $503K No change
PSX Phillips 66 0.04% 4,144 $494K No change
BP BP PLC-Spons ADR 0.04% 16,512 $494K No change
AVGO Broadcom Inc. 0.04% 1,750 $482K No change
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 0.03% 6,250 $422K No change
ENB Enbridge Inc. 0.03% 9,226 $418K No change
ORI Old Republic Intl Corp. 0.03% 10,860 $417K Add +0.8%
GRMN Garmin Ltd. 0.03% 2,000 $417K No change
PNC PNC Financial Services Group 0.03% 2,076 $387K No change
LNC Lincoln National Corp. 0.03% 10,244 $354K No change

Show all 120 holdings

Portfolio Sells Q1 2025 → Q2 2025
BRK.A Berkshire Hathaway Inc. Class A Reduce -1.6% 6.86% −0.95
BRK.B Berkshire Hathaway Inc. Class B Reduce -1.7% 2.91% −0.41
V Visa Inc. Class A Reduce -2.7% 5.48% −0.20
CMCSA Comcast Corp. Class A Reduce -2.9% 1.67% −0.15
MRK Merck & Co. Inc. Reduce -2.3% 0.52% −0.10
PFE Pfizer Inc. Reduce -3.0% 0.32% −0.03
MDLZ Mondelez International Inc. Class A Reduce -4.8% 0.27% −0.02
TJX TJX Companies Inc. Reduce -15.9% 0.10% −0.02
MO Altria Group Inc. Reduce -51.1% 0.02% −0.02
DEO Diageo PLC-Sponsored ADR Reduce -15.2% 0.06% −0.02
PEP Pepsico Inc. Reduce -4.1% 0.05% −0.01
KO The Coca-Cola Co. Reduce -1.8% 0.20% −0.01
LLY Eli Lilly & Co. Reduce -0.1% 0.11% −0.01
YUMC Yum China Holdings Inc. Reduce -4.4% 0.03% −0.01
DD Dupont DE Nemours Inc. Reduce -6.9% 0.03% −0.01
IJR iShares Core S&P Small-Cap E Sold out 0.00% −0.01
GEHC GE Healthcare Technology Reduce -0.0% 0.04% −0.00
IJK iShares S&P Mid-Cap 400 Grow Reduce -25.0% 0.01% −0.00
FITB Fifth Third Bancorp Reduce -4.2% 0.06% −0.00
CTVA Corteva Inc. Reduce -10.8% 0.02% +0.00
NSC Norfolk Southern Corp. Reduce -0.5% 0.18% +0.01
GS Goldman Sachs Group Inc. Reduce -0.3% 0.14% +0.03
GEV GE Vernova Inc. Reduce -0.3% 0.18% +0.07
PM Philip Morris International Reduce -2.8% 1.03% +0.09
GOOGL Alphabet Inc. Class A Reduce 0.0% 1.11% +0.11
TDG Transdigm Group Inc. Reduce -0.3% 3.11% +0.21
BKNG Booking Holdings Inc. Reduce -0.0% 2.57% +0.48
JPM JPMorgan Chase & Co. Reduce -1.9% 4.64% +0.55
MSFT Microsoft Corp. Reduce -3.3% 8.02% +1.62

Portfolio Buys Q1 2025 → Q2 2025
GOOG Alphabet Inc. Class C Add +0.0% 5.28% +0.53
MU Micron Technology Inc. Add +0.3% 1.55% +0.44
AXP American Express Co. Add +0.1% 3.13% +0.43
AMZN Amazon.com Inc. Add +0.8% 3.27% +0.40
ASML ASML Holding NV-NY Reg SHS Add +1.3% 1.12% +0.19
LHX L3HARRIS Technologies Inc. Add +0.5% 1.21% +0.18
VRSN Verisign Inc. Add +0.3% 1.51% +0.16
LH Labcorp Holdings Inc. Add +0.4% 1.31% +0.13
ICE Intercontinental Exchange Inc. Add +0.3% 2.03% +0.09
SPAB SS SPDR P Agg Bond ETF New 0.05% +0.05
TSLA Tesla Inc. New 0.02% +0.02
CRM Salesforce Inc. Add +1.1% 1.17% +0.01
SPY SS SPDR S&P 500 ETF Trust-US Add +11.7% 0.03% +0.00
ORI Old Republic Intl Corp. Add +0.8% 0.03% −0.00
AMT American Tower Corp. Add +0.5% 2.11% −0.00
DUK Duke Energy Corp. Add +0.0% 0.24% −0.01
LIN Linde PLC Add +0.3% 1.45% −0.02
OTIS Otis Worldwide Corp. Add +0.3% 1.00% −0.06
CPAY Corpay Inc. Add +0.4% 1.43% −0.10
UNP Union Pacific Corp. Add +0.5% 2.33% −0.10
ZTS Zoetis Inc. Add +0.6% 1.52% −0.11
JNJ Johnson & Johnson Add +0.6% 1.41% −0.15
CPRT Copart Inc. Add +0.4% 1.70% −0.30
XOM Exxon Mobil Corp. Add +0.2% 3.07% −0.39
FISV Fiserv Inc. Add +0.2% 1.84% −0.56
TMO Thermo Fisher Scientific Inc. Add +0.6% 2.53% −0.62
UNH Unitedhealth Group Inc. Add +5.3% 1.23% −0.77
AAPL Apple Inc. Add +0.2% 8.67% −0.90

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 128$1.5BAAPL, MU, GOOG, MSFT, BRK.A
Q1 2026 130$1.3BAAPL, GOOG, MSFT, BRK.A, XOM
Q4 2025 129$1.4BAAPL, GOOG, MSFT, BRK.A, V
Q3 2025 122$1.3BAAPL, MSFT, BRK.A, GOOG, V
Q2 2025 120$1.3BAAPL, MSFT, BRK.A, V, GOOG
Q1 2025 119$1.2BAAPL, BRK.A, MSFT, V, GOOG
Q4 2024 124$1.3BAAPL, MSFT, BRK.A, GOOG, V
Q3 2024 124$1.3BAAPL, MSFT, BRK.A, GOOG, V
Q2 2024 120$1.2BAAPL, MSFT, BRK.A, GOOG, V
Q1 2024 121$1.2BAAPL, BRK.A, MSFT, GOOG, V