Mill Capital Management, LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 11, 2026), Mill Capital Management, LLC reported 129 stock positions worth $1.4 billion. Its top holding was Apple (AAPL) at 10.0% of the portfolio, followed by Alphabet Class C (GOOG, 7.7%) and Microsoft (MSFT, 7.0%). Compared with Q3 2025, it opened 8 new positions, sold out of 2, added to 43 and reduced 26. The biggest buy was a new position in Amphenol Class A (APH) and the biggest sale an exit from Fiserv (FISV).

Most Recent 13F
Q2 2026
Location
CONCORD, NC
CIK
0001901166
Portfolio Value
$1.4B (Q4 2025)
SEC Filing
0001398344-26-002778 ↗ filed Feb 11, 2026

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 Q2 2025 Q3 2025: $1.3B Q3 2025 Q4 2025: $1.4B $1.4B Q4 2025 Q1 2026: $1.3B Q1 2026 Q2 2026: $1.5B Q2 2026

Holdings 129 stocks · $1.4B
AAPL Apple Inc. 9.96% 507,768 $138.0M Reduce -4.9%
GOOG Alphabet Inc. Class C 7.74% 341,836 $107.3M Reduce -6.0%
MSFT Microsoft Corp. 7.00% 200,524 $97.0M Add +0.3%
BRK.A Berkshire Hathaway Inc. Class A 6.37% 117 $88.3M Reduce -1.7%
V Visa Inc. Class A 4.85% 191,720 $67.2M Add +0.3%
JPM JPMorgan Chase & Co. 4.61% 198,181 $63.9M Reduce -2.8%
TMO Thermo Fisher Scientific Inc. 3.38% 80,826 $46.8M Add +0.7%
AXP American Express Co. 3.25% 121,769 $45.0M Reduce -3.0%
AMZN Amazon.com Inc. 3.19% 191,234 $44.1M Add +0.3%
XOM Exxon Mobil Corp. 3.18% 365,881 $44.0M Add +0.2%
BRK.B Berkshire Hathaway Inc. Class B 2.93% 80,863 $40.6M Add +3.6%
MU Micron Technology Inc. 2.77% 134,534 $38.4M Reduce -10.7%
TDG Transdigm Group Inc. 2.39% 24,882 $33.1M Add +0.3%
BKNG Booking Holdings Inc. 2.19% 5,656 $30.3M Add +0.1%
UNP Union Pacific Corp. 2.17% 130,095 $30.1M Add +0.3%
GOOGL Alphabet Inc. Class A 1.80% 79,734 $25.0M Reduce -0.8%
JNJ Johnson & Johnson 1.77% 118,714 $24.6M Add +0.1%
ICE Intercontinental Exchange Inc. 1.71% 146,423 $23.7M Add +3.4%
ASML ASML Holding NV-NY Reg SHS 1.56% 20,186 $21.6M Add +0.2%
AMT American Tower Corp. 1.56% 122,982 $21.6M Add +0.2%
ZTS Zoetis Inc. 1.48% 162,700 $20.5M Add +10.4%
UNH Unitedhealth Group Inc. 1.44% 60,275 $19.9M Add +0.3%
LHX L3HARRIS Technologies Inc. 1.31% 62,026 $18.2M Add +0.2%
CPRT Copart Inc. 1.26% 444,885 $17.4M Add +0.7%
LIN Linde PLC 1.24% 40,249 $17.2M Add +1.2%
CPAY Corpay Inc. 1.19% 54,635 $16.4M Reduce -0.7%
VRSN Verisign Inc. 1.17% 66,908 $16.3M Add +0.4%
LH Labcorp Holdings Inc. 1.16% 64,266 $16.1M Add +0.5%
CRM Salesforce Inc. 1.15% 60,041 $15.9M Add +3.0%
OTIS Otis Worldwide Corp. 0.91% 143,837 $12.6M Add +0.6%
PM Philip Morris International 0.84% 72,222 $11.6M No change
APH Amphenol Corp. Class A 0.79% 80,704 $10.9M New
BSX Boston Scientific Corp. 0.74% 107,303 $10.2M New
WFC Wells Fargo & Co. 0.55% 81,494 $7.6M Reduce -0.8%
TT Trane Technologies PLC 0.50% 17,829 $6.9M No change
MRK Merck & Co. Inc. 0.49% 64,423 $6.8M Reduce -21.8%
LRCX Lam Research Corp. 0.43% 35,150 $6.0M Add +0.4%
GE General Electric filed as GE AEROSPACE 0.43% 19,265 $5.9M Reduce -0.3%
CMCSA Comcast Corp. Class A 0.41% 187,748 $5.6M Reduce -65.6%
PG The Procter & Gamble Co. 0.39% 37,586 $5.4M Reduce -0.1%
CAT Caterpillar Inc. 0.36% 8,799 $5.0M No change
CVX Chevron Corp. 0.31% 27,754 $4.2M Add +0.1%
PFE Pfizer Inc. 0.28% 158,265 $3.9M No change
MLM Martin Marietta Materials 0.28% 6,225 $3.9M No change
ETN Eaton Corp. PLC 0.27% 11,850 $3.8M Add +0.4%
ELV Elevance Health Inc. 0.26% 10,142 $3.6M No change
DUK Duke Energy Corp. 0.22% 25,986 $3.0M Add +0.0%
ORCL Oracle Corp. 0.22% 15,497 $3.0M No change
GEV GE Vernova Inc. 0.21% 4,386 $2.9M No change
NSC Norfolk Southern Corp. 0.19% 9,138 $2.6M No change
YUM Yum! Brands Inc. 0.19% 16,969 $2.6M Reduce -0.3%
HD Home Depot Inc. 0.18% 7,377 $2.5M Add +0.4%
SHEL Shell PLC-ADR 0.18% 34,218 $2.5M No change
BMY Bristol-Myers Squibb Co. 0.18% 46,368 $2.5M No change
KO The Coca-Cola Co. 0.17% 34,049 $2.4M Reduce -3.5%
GS Goldman Sachs Group Inc. 0.16% 2,541 $2.2M No change
MDLZ Mondelez International Inc. Class A 0.16% 40,789 $2.2M Reduce -9.9%
RSG Republic Services Inc. 0.15% 10,102 $2.1M No change
MMM 3M Co. 0.15% 13,185 $2.1M No change
LLY Eli Lilly & Co. 0.14% 1,828 $2.0M Add +1.4%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.14% 35,152 $1.9M No change
NEE Nextera Energy Inc. 0.14% 24,000 $1.9M No change
COP Conocophillips 0.13% 18,866 $1.8M No change
SYK Stryker Corp. 0.12% 4,819 $1.7M No change
EMR Emerson Electric Co. 0.12% 12,632 $1.7M No change
TXN Texas Instruments Inc. 0.12% 9,500 $1.6M No change
MCD McDonald's Corp. 0.11% 5,009 $1.5M Reduce -0.4%
SPAB SS SPDR P Agg Bond ETF 0.11% 58,984 $1.5M Add +33.8%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.11% 9,550 $1.5M No change
VTEB Vanguard Tax-Exempt Bond ETF 0.09% 25,558 $1.3M New
CME Cme Group Inc. 0.09% 4,500 $1.2M No change
LOW Lowe's Cos Inc. 0.09% 5,058 $1.2M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.09% 4,116 $1.2M No change
IR Ingersoll-Rand Inc. 0.09% 14,859 $1.2M No change
L Loews Corp. 0.08% 11,099 $1.2M Reduce -0.9%
FCNCA First Citizens Bcshs Class A 0.08% 525 $1.1M No change
MSI Motorola Solutions Inc. 0.08% 2,935 $1.1M Add +0.9%
BDX Becton Dickinson and Co. 0.08% 5,542 $1.1M No change
IAU iShares Gold Trust 0.08% 12,994 $1.1M Reduce -20.0%
IWR iShares Russell Mid-Cap ETF 0.07% 10,524 $1.0M Add +20.6%
ABBV Abbvie Inc. 0.07% 4,422 $1.0M Add +0.9%
CB Chubb Ltd. 0.07% 3,210 $1.0M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.07% 8,638 $983K Reduce -26.8%
CMI Cummins Inc. 0.06% 1,665 $850K No change
FITB Fifth Third Bancorp 0.06% 17,182 $804K No change
HON Honeywell International Inc. 0.05% 3,788 $739K No change
PEP Pepsico Inc. 0.05% 4,729 $679K Reduce -4.7%
AVGO Broadcom Inc. 0.05% 1,868 $647K Add +6.7%
KMB Kimberly-Clark Corp. 0.05% 6,400 $646K Reduce -9.4%
ZBH Zimmer Biomet Holdings Inc. 0.04% 6,761 $608K No change
NVS Novartis AG-Sponsored ADR 0.04% 4,388 $605K No change
GEHC GE Healthcare Technology 0.04% 7,055 $579K No change
SUSA iShares ESG Optimized MSCI U 0.04% 4,150 $578K Add +118.4%
BP BP PLC-Spons ADR 0.04% 16,004 $556K Reduce -3.1%
PSX Phillips 66 0.04% 4,144 $535K No change
WEC WEC Energy Group Inc. 0.04% 4,824 $509K No change
ORI Old Republic Intl Corp. 0.04% 11,008 $502K Add +0.6%
LNC Lincoln National Corp. 0.03% 10,244 $456K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.03% 664 $453K Add +12.9%
ENB Enbridge Inc. 0.03% 9,226 $441K No change

Show all 129 holdings

Portfolio Sells Q3 2025 → Q4 2025
FISV Fiserv Inc. Sold out 0.00% −1.45
CMCSA Comcast Corp. Class A Reduce -65.6% 0.41% −0.87
BRK.A Berkshire Hathaway Inc. Class A Reduce -1.7% 6.37% −0.28
JPM JPMorgan Chase & Co. Reduce -2.8% 4.61% −0.16
AAPL Apple Inc. Reduce -4.9% 9.96% −0.12
MDLZ Mondelez International Inc. Class A Reduce -9.9% 0.16% −0.05
PG The Procter & Gamble Co. Reduce -0.1% 0.39% −0.04
DIS The Walt Disney Co. Reduce -26.8% 0.07% −0.03
DD Dupont DE Nemours Inc. Sold out 0.00% −0.03
MRK Merck & Co. Inc. Reduce -21.8% 0.49% −0.02
DEO Diageo PLC-Sponsored ADR Reduce -38.5% 0.02% −0.02
KMB Kimberly-Clark Corp. Reduce -9.4% 0.05% −0.02
IAU iShares Gold Trust Reduce -20.0% 0.08% −0.01
YUM Yum! Brands Inc. Reduce -0.3% 0.19% −0.01
MCD McDonald's Corp. Reduce -0.4% 0.11% −0.00
PEP Pepsico Inc. Reduce -4.7% 0.05% −0.00
GE General Electric Reduce -0.3% 0.43% −0.00
BP BP PLC-Spons ADR Reduce -3.1% 0.04% −0.00
KO The Coca-Cola Co. Reduce -3.5% 0.17% −0.00
Q Qnity Electronics Inc. Reduce -0.1% 0.01% −0.00
WMT Walmart Inc. Reduce -2.5% 0.03% +0.00
L Loews Corp. Reduce -0.9% 0.08% +0.00
CPAY Corpay Inc. Reduce -0.7% 1.19% +0.01
WFC Wells Fargo & Co. Reduce -0.8% 0.55% +0.04
AXP American Express Co. Reduce -3.0% 3.25% +0.16
GOOGL Alphabet Inc. Class A Reduce -0.8% 1.80% +0.35
MU Micron Technology Inc. Reduce -10.7% 2.77% +0.90
GOOG Alphabet Inc. Class C Reduce -6.0% 7.74% +1.18

Portfolio Buys Q3 2025 → Q4 2025
APH Amphenol Corp. Class A New 0.79% +0.79
BSX Boston Scientific Corp. New 0.74% +0.74
TMO Thermo Fisher Scientific Inc. Add +0.7% 3.38% +0.49
JNJ Johnson & Johnson Add +0.1% 1.77% +0.14
XOM Exxon Mobil Corp. Add +0.2% 3.18% +0.13
CRM Salesforce Inc. Add +3.0% 1.15% +0.12
ASML ASML Holding NV-NY Reg SHS Add +0.2% 1.56% +0.11
VTEB Vanguard Tax-Exempt Bond ETF New 0.09% +0.09
LRCX Lam Research Corp. Add +0.4% 0.43% +0.09
AMZN Amazon.com Inc. Add +0.3% 3.19% +0.08
LLY Eli Lilly & Co. Add +1.4% 0.14% +0.04
SPAB SS SPDR P Agg Bond ETF Add +33.8% 0.11% +0.03
BRK.B Berkshire Hathaway Inc. Class B Add +3.6% 2.93% +0.02
SUSA iShares ESG Optimized MSCI U Add +118.4% 0.04% +0.02
ACWI iShares MSCI Acwi ETF New 0.02% +0.02
V Visa Inc. Class A Add +0.3% 4.85% +0.01
IVV iShares Core S&P 500 ETF Add +120.0% 0.03% +0.01
FDX FedEx Corp. New 0.01% +0.01
SOLV Solventum Corp. New 0.01% +0.01
IWP iShares Russell Mid-Cap Grow Add +254.4% 0.02% +0.01
IWR iShares Russell Mid-Cap ETF Add +20.6% 0.07% +0.01
IJR iShares Core S&P Small-Cap E New 0.01% +0.01
IWF iShares Russell 1000 Growth Add +100.0% 0.01% +0.01
EEM iShares MSCI Emerging Market New 0.01% +0.01
AVGO Broadcom Inc. Add +6.7% 0.05% +0.00
SPY SS SPDR S&P 500 ETF Trust-US Add +12.9% 0.03% +0.00
ORI Old Republic Intl Corp. Add +0.6% 0.04% +0.00
MBB iShares MBS ETF Add +11.3% 0.01% +0.00
RF Regions Financial Corp. Add +2.4% 0.02% +0.00
BLK BlackRock Inc. Add +4.4% 0.02% −0.00
ABBV Abbvie Inc. Add +0.9% 0.07% −0.00
GRMN Garmin Ltd. Add +1.9% 0.03% −0.01
CVX Chevron Corp. Add +0.1% 0.31% −0.01
MSI Motorola Solutions Inc. Add +0.9% 0.08% −0.02
DUK Duke Energy Corp. Add +0.0% 0.22% −0.02
TDG Transdigm Group Inc. Add +0.3% 2.39% −0.04
HD Home Depot Inc. Add +0.4% 0.18% −0.04
ETN Eaton Corp. PLC Add +0.4% 0.27% −0.05
ICE Intercontinental Exchange Inc. Add +3.4% 1.71% −0.06
OTIS Otis Worldwide Corp. Add +0.6% 0.91% −0.06
BKNG Booking Holdings Inc. Add +0.1% 2.19% −0.08
LHX L3HARRIS Technologies Inc. Add +0.2% 1.31% −0.09
UNP Union Pacific Corp. Add +0.3% 2.17% −0.10
UNH Unitedhealth Group Inc. Add +0.3% 1.44% −0.10
ZTS Zoetis Inc. Add +10.4% 1.48% −0.12
LIN Linde PLC Add +1.2% 1.24% −0.16
AMT American Tower Corp. Add +0.2% 1.56% −0.19
LH Labcorp Holdings Inc. Add +0.5% 1.16% −0.20
VRSN Verisign Inc. Add +0.4% 1.17% −0.21
CPRT Copart Inc. Add +0.7% 1.26% −0.22

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