Miller Investment Management, LP

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 13, 2024), Miller Investment Management, LP reported 103 stock positions worth $836.9 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 21.0% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 8.2%) and iShares MSCI Eafe ETF (EFA, 7.7%). Compared with Q1 2024, it opened 2 new positions, sold out of 4, added to 20 and reduced 13. The biggest buy was a new position in SS Spdrb B 3-12M T-Bill ETF (BILS) and the biggest sale SS Materials Select Sector (XLB, shares −28%).

Most Recent 13F
Q2 2026
Location
WEST CONSHOHOCKEN, PA
CIK
0001407382
Portfolio Value
$836.9M (Q2 2024)
SEC Filing
0001407382-24-000007 ↗ filed Aug 13, 2024

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $782.7M Q1 2024 Q2 2024: $836.9M $836.9M Q2 2024 Q3 2024: $960.4M Q3 2024 Q4 2024: $913.6M Q4 2024 Q1 2025: $904.0M Q1 2025 Q2 2025: $952.4M Q2 2025 Q3 2025: $995.1M Q3 2025 Q4 2025: $1.0B Q4 2025 Q1 2026: $1.0B Q1 2026 Q2 2026: $1.1B Q2 2026

Holdings 103 stocks · $836.9M
SPY SS SPDR S&P 500 ETF Trust-US 20.95% 322,197 $175.3M Add +0.5%
BRK.B Berkshire Hathaway Inc. Class B 8.21% 168,917 $68.7M Add +0.3%
EFA iShares MSCI Eafe ETF 7.74% 827,506 $64.8M Add +7.5%
VGSH Vanguard Short-Term Treasury 5.20% 750,062 $43.5M Add +103.3%
BILS SS Spdrb B 3-12M T-Bill ETF 4.91% 413,344 $41.1M New
META Meta Platforms Inc. Class A 3.72% 61,818 $31.2M Add +2.3%
SMH Vaneck Semiconductor ETF 3.68% 118,288 $30.8M Add +49.5%
XLB SS Materials Select Sector 3.48% 330,242 $29.2M Reduce -28.1%
EWJ iShares MSCI Japan ETF 3.40% 416,525 $28.4M Add +0.2%
IWR iShares Russell Mid-Cap ETF 2.33% 240,145 $19.5M Add +0.6%
XLV SS Health Care Select Sector 2.17% 124,853 $18.2M Add +10.1%
BBH Vaneck Biotech ETF 2.09% 104,010 $17.5M Add +0.8%
QTEC First Trust Nasdq 100 Tech I 2.02% 85,610 $16.9M Reduce -2.1%
PPH Vaneck Pharmaceutical ETF 2.00% 183,089 $16.7M Add +27.1%
XLC SS Comm Select Sector SPDR 1.99% 194,367 $16.6M Reduce -1.7%
LEN Lennar Corp. Class A 1.63% 90,871 $13.6M Add +14.1%
GOOGL Alphabet Inc. Class A 1.62% 74,289 $13.5M Add +25.7%
GSPY Gotham Enhanced 500 ETF 1.51% 424,044 $12.6M Reduce -41.6%
IWM iShares Russell 2000 ETF 1.48% 60,947 $12.4M Reduce -35.6%
DHI D.R. Horton Inc. 1.45% 86,248 $12.2M Add +0.7%
NVR NVR Inc. 1.39% 1,534 $11.6M Add +8.3%
IBB iShares Biotechnology ETF 1.38% 84,084 $11.5M Reduce -6.6%
MSFT Microsoft Corp. 1.15% 21,550 $9.6M Add +77.3%
XLP SS Consumer Staples Sel Sect 1.13% 123,166 $9.4M Reduce -35.5%
URI United Rentals Inc. 0.98% 12,622 $8.2M No change
VIG Vanguard Dividend Apprec ETF 0.52% 23,831 $4.4M No change
VEU Vanguard Ftse All-World Ex-U 0.50% 70,693 $4.1M Reduce -1.3%
AMZN Amazon.com Inc. 0.48% 20,615 $4.0M New
JPM JPMorgan Chase & Co. 0.46% 18,935 $3.8M No change
EMR Emerson Electric Co. 0.40% 30,375 $3.3M No change
PNC PNC Financial Services Group 0.40% 21,260 $3.3M No change
WMT Walmart Inc. 0.39% 48,450 $3.3M No change
VTI VG Morningstar TS MKT ETF-US 0.39% 12,072 $3.2M Add +0.6%
JNJ Johnson & Johnson 0.37% 21,275 $3.1M No change
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.36% 12,101 $3.0M Add +99.8%
MDY State Street SPDR S&P Midcap 0.33% 5,201 $2.8M No change
CNC Centene Corp. 0.29% 36,295 $2.4M Reduce -1.5%
XLF SS Financial Select Sector 0.28% 57,120 $2.3M Reduce -0.1%
CAH Cardinal Health Inc. 0.28% 23,471 $2.3M No change
UPS United Parcel Service Class B 0.28% 16,859 $2.3M No change
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.27% 5,717 $2.2M Reduce -52.4%
MDT Medtronic PLC 0.25% 26,165 $2.1M No change
WFC Wells Fargo & Co. 0.24% 34,082 $2.0M No change
KMB Kimberly-Clark Corp. 0.24% 14,626 $2.0M No change
AAPL Apple Inc. 0.24% 9,503 $2.0M No change
CMCSA Comcast Corp. Class A 0.23% 49,535 $1.9M No change
DE Deere & Co. 0.22% 4,945 $1.8M No change
DGX Quest Diagnostics Inc. 0.22% 13,153 $1.8M No change
RTX RTX Corp. 0.21% 17,500 $1.8M No change
CVX Chevron Corp. 0.19% 10,220 $1.6M No change
AMGN Amgen Inc. 0.19% 5,098 $1.6M No change
STZ Constellation Brands Inc. Class A 0.18% 6,000 $1.5M No change
ORCL Oracle Corp. 0.18% 10,543 $1.5M No change
ACGL Arch Capital Group Ltd. 0.17% 14,315 $1.4M No change
SWK Stanley Black & Decker Inc. 0.17% 17,845 $1.4M No change
COWZ Pacer US Cash Cows 100 ETF 0.17% 25,503 $1.4M No change
VOO Vanguard S&P 500 ETF 0.15% 2,529 $1.3M No change
BDX Becton Dickinson and Co. 0.14% 5,087 $1.2M No change
DOV Dover Corp. 0.14% 6,542 $1.2M No change
HD Home Depot Inc. 0.14% 3,404 $1.2M No change
LLY Eli Lilly & Co. 0.14% 1,250 $1.1M No change
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.13% 9,534 $1.0M No change
AMLP Alerian MLP ETF 0.12% 21,656 $1.0M Reduce -0.2%
QQQ Invesco QQQ Trust Series 1 0.12% 2,084 $998K No change
VEA Vanguard Ftse Developed ETF 0.12% 20,187 $998K No change
MMM 3M Co. 0.12% 9,490 $970K No change
ITW Illinois Tool Works 0.11% 3,885 $921K No change
PSX Phillips 66 0.11% 6,500 $918K No change
GPC Genuine Parts Co. 0.11% 6,570 $909K No change
BIL SS SPDR BB 1-3M T-Bill ETF 0.10% 8,679 $797K No change
PEP Pepsico Inc. 0.09% 4,631 $764K No change
MCD McDonald's Corp. 0.09% 2,826 $720K No change
CTAS Cintas Corp. 0.08% 1,001 $701K No change
COR Cencora Inc. 0.08% 3,045 $686K No change
XBI SS SPDR S&P Biotech ETF 0.07% 6,575 $610K No change
ONIT Onity Group Inc. 0.07% 24,798 $595K Add +23.8%
IWD iShares Russell 1000 Value E 0.07% 3,368 $588K No change
ABBV Abbvie Inc. 0.07% 3,390 $581K No change
GDXJ Vaneck Junior Gold Miners 0.07% 13,550 $571K No change
ACN Accenture PLC Class A 0.07% 1,833 $556K No change
CCK Crown Holdings Inc. 0.07% 7,421 $552K No change
AVY Avery Dennison Corp. 0.06% 2,230 $488K No change
GD General Dynamics Corp. 0.05% 1,554 $451K No change
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.05% 1,672 $434K No change
CARR Carrier Global Corp. 0.04% 5,840 $368K No change
NKE Nike Inc. Class B 0.04% 4,771 $360K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.04% 3,523 $350K No change
AEG Aegon Ltd.-NY Reg SHR 0.04% 57,015 $350K No change
KO The Coca-Cola Co. 0.04% 5,292 $337K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.04% 1,822 $315K No change
QCOM Qualcomm Inc. 0.03% 1,448 $288K No change
DVN Devon Energy Corp. 0.03% 6,000 $284K No change
PKW Invesco Buyback Achievers Et 0.03% 2,675 $278K No change
XOM Exxon Mobil Corp. 0.03% 2,390 $275K Add +13.8%
XLK SS Technology Select Sector 0.03% 1,206 $273K Reduce -0.9%
EFG iShares MSCI Eafe Growth ETF 0.03% 2,455 $251K No change
DHR Danaher Corp. 0.03% 992 $248K No change
MOAT Vaneck Morningstar Wide Moat 0.03% 2,805 $243K No change
GOOG Alphabet Inc. Class C 0.03% 1,320 $242K No change
AVUV Avantis US Small Cap Value 0.03% 2,519 $226K No change
CI The Cigna Group 0.02% 620 $205K No change
CDXS Codexis Inc. 0.00% 11,693 $36K No change
CITIUS PHARMACEUTICALS INC 0.00% 50,000 $29K No change

Portfolio Sells Q1 2024 → Q2 2024
XLB SS Materials Select Sector Reduce -28.1% 3.48% −1.96
GSPY Gotham Enhanced 500 ETF Reduce -41.6% 1.51% −1.17
IWM iShares Russell 2000 ETF Reduce -35.6% 1.48% −1.07
XLP SS Consumer Staples Sel Sect Reduce -35.5% 1.13% −0.74
RSPM Invesco S&P 500 Equal Weight Sold out 0.00% −0.56
DIA SS SPDR Dow Jones Indus Avg Reduce -52.4% 0.27% −0.34
VAW Vanguard Materials ETF Sold out 0.00% −0.25
RSP Invesco S&P 500 Equal Weight Sold out 0.00% −0.24
IBB iShares Biotechnology ETF Reduce -6.6% 1.38% −0.20
IWB iShares Russell 1000 ETF Sold out 0.00% −0.14
QTEC First Trust Nasdq 100 Tech I Reduce -2.1% 2.02% −0.11
CNC Centene Corp. Reduce -1.5% 0.29% −0.08
XLC SS Comm Select Sector SPDR Reduce -1.7% 1.99% −0.07
VEU Vanguard Ftse All-World Ex-U Reduce -1.3% 0.50% −0.04
XLF SS Financial Select Sector Reduce -0.1% 0.28% −0.03
AMLP Alerian MLP ETF Reduce -0.2% 0.12% −0.01
XLK SS Technology Select Sector Reduce -0.9% 0.03% +0.00

Portfolio Buys Q1 2024 → Q2 2024
BILS SS Spdrb B 3-12M T-Bill ETF New 4.91% +4.91
VGSH Vanguard Short-Term Treasury Add +103.3% 5.20% +2.46
SMH Vaneck Semiconductor ETF Add +49.5% 3.68% +1.41
MSFT Microsoft Corp. Add +77.3% 1.15% +0.50
GOOGL Alphabet Inc. Class A Add +25.7% 1.62% +0.48
AMZN Amazon.com Inc. New 0.48% +0.48
PPH Vaneck Pharmaceutical ETF Add +27.1% 2.00% +0.33
VV Vngrd Mrgstr LRG-Cap ETF-Usd Add +99.8% 0.36% +0.18
XLV SS Health Care Select Sector Add +10.1% 2.17% +0.03
ONIT Onity Group Inc. Add +23.8% 0.07% +0.00
XOM Exxon Mobil Corp. Add +13.8% 0.03% +0.00
VTI VG Morningstar TS MKT ETF-US Add +0.6% 0.39% −0.01
META Meta Platforms Inc. Class A Add +2.3% 3.72% −0.02
NVR NVR Inc. Add +8.3% 1.39% −0.08
BBH Vaneck Biotech ETF Add +0.8% 2.09% −0.10
EFA iShares MSCI Eafe ETF Add +7.5% 7.74% −0.11
LEN Lennar Corp. Class A Add +14.1% 1.63% −0.12
IWR iShares Russell Mid-Cap ETF Add +0.6% 2.33% −0.24
DHI D.R. Horton Inc. Add +0.7% 1.45% −0.35
EWJ iShares MSCI Japan ETF Add +0.2% 3.40% −0.39
SPY SS SPDR S&P 500 ETF Trust-US Add +0.5% 20.95% −0.48
BRK.B Berkshire Hathaway Inc. Class B Add +0.3% 8.21% −0.84

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 83$1.1BSPY, BILS, VGSH, BRK.B, VGIT
Q1 2026 86$1.0BSPY, BILS, VGSH, VGIT, BRK.B
Q4 2025 89$1.0BSPY, BILS, VGSH, BRK.B, VGIT
Q3 2025 98$995.1MSPY, BILS, BRK.B, EFA, VGSH
Q2 2025 96$952.4MSPY, BILS, BRK.B, EFA, VGSH
Q1 2025 97$904.0MSPY, BILS, BRK.B, EFA, VGSH
Q4 2024 100$913.6MSPY, BILS, BRK.B, EFA, VGSH
Q3 2024 104$960.4MSPY, BILS, BRK.B, EFA, VGSH
Q2 2024 103$836.9MSPY, BRK.B, EFA, VGSH, BILS
Q1 2024 105$782.7MSPY, BRK.B, EFA, XLB, EWJ