Miller Investment Management, LP

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Miller Investment Management, LP reported 104 stock positions worth $960.4 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 19.0% of the portfolio, followed by SS Spdrb B 3-12M T-Bill ETF (BILS, 12.3%) and Berkshire Hathaway Class B (BRK.B, 8.1%). Compared with Q2 2024, it opened 2 new positions, sold out of 1, added to 18 and reduced 17. The biggest buy was SS Spdrb B 3-12M T-Bill ETF (BILS, shares +188%) and the biggest sale SS Materials Select Sector (XLB, shares −80%).

Most Recent 13F
Q2 2026
Location
WEST CONSHOHOCKEN, PA
CIK
0001407382
Portfolio Value
$960.4M (Q3 2024)
SEC Filing
0001407382-24-000012 ↗ filed Nov 14, 2024

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $782.7M Q1 2024 Q2 2024: $836.9M Q2 2024 Q3 2024: $960.4M $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 104 stocks · $960.4M
SPY SS SPDR S&P 500 ETF Trust-US 18.99% 317,859 $182.4M Reduce -1.4%
BILS SS Spdrb B 3-12M T-Bill ETF 12.34% 1,190,566 $118.6M Add +188.0%
BRK.B Berkshire Hathaway Inc. Class B 8.10% 168,979 $77.8M Add +0.0%
EFA iShares MSCI Eafe ETF 7.72% 886,075 $74.1M Add +7.1%
VGSH Vanguard Short-Term Treasury 6.48% 1,054,914 $62.3M Add +40.6%
META Meta Platforms Inc. Class A 3.69% 61,865 $35.4M Add +0.1%
SMH Vaneck Semiconductor ETF 3.03% 118,434 $29.1M Add +0.1%
EWJ iShares MSCI Japan ETF 2.84% 381,655 $27.3M Reduce -8.4%
IWR iShares Russell Mid-Cap ETF 2.13% 231,808 $20.4M Reduce -3.5%
PPH Vaneck Pharmaceutical ETF 2.05% 207,535 $19.7M Add +13.3%
XLV SS Health Care Select Sector 2.03% 126,727 $19.5M Add +1.5%
LEN Lennar Corp. Class A 1.97% 101,070 $18.9M Add +11.2%
BBH Vaneck Biotech ETF 1.84% 99,813 $17.7M Reduce -4.0%
XLC SS Comm Select Sector SPDR 1.83% 194,770 $17.6M Add +0.2%
DHI D.R. Horton Inc. 1.78% 89,378 $17.1M Add +3.6%
QTEC First Trust Nasdq 100 Tech I 1.66% 83,251 $15.9M Reduce -2.8%
NVR NVR Inc. 1.66% 1,621 $15.9M Add +5.7%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 1.63% 59,285 $15.6M Add +389.9%
MSFT Microsoft Corp. 1.51% 33,764 $14.5M Add +56.7%
GOOGL Alphabet Inc. Class A 1.50% 87,093 $14.4M Add +17.2%
IBB iShares Biotechnology ETF 1.25% 82,563 $12.0M Reduce -1.8%
URI United Rentals Inc. 1.06% 12,622 $10.2M No change
AMZN Amazon.com Inc. 0.95% 48,966 $9.1M Add +137.5%
XLB SS Materials Select Sector 0.66% 65,444 $6.3M Reduce -80.2%
VIG Vanguard Dividend Apprec ETF 0.49% 23,831 $4.7M No change
JPM JPMorgan Chase & Co. 0.42% 18,935 $4.0M No change
PNC PNC Financial Services Group 0.41% 21,260 $3.9M No change
WMT Walmart Inc. 0.41% 48,450 $3.9M No change
GSPY Gotham Enhanced 500 ETF 0.40% 120,987 $3.8M Reduce -71.5%
JNJ Johnson & Johnson 0.36% 21,275 $3.4M No change
EMR Emerson Electric Co. 0.35% 30,375 $3.3M No change
VTI VG Morningstar TS MKT ETF-US 0.34% 11,671 $3.3M Reduce -3.3%
MDY State Street SPDR S&P Midcap 0.31% 5,201 $3.0M No change
CNC Centene Corp. 0.28% 36,295 $2.7M No change
CAH Cardinal Health Inc. 0.27% 23,471 $2.6M No change
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.25% 5,717 $2.4M No change
MDT Medtronic PLC 0.25% 26,165 $2.4M No change
UPS United Parcel Service Class B 0.24% 16,859 $2.3M No change
AAPL Apple Inc. 0.23% 9,503 $2.2M No change
XLF SS Financial Select Sector 0.23% 48,326 $2.2M Reduce -15.4%
RTX RTX Corp. 0.22% 17,500 $2.1M No change
KMB Kimberly-Clark Corp. 0.22% 14,626 $2.1M No change
CMCSA Comcast Corp. Class A 0.22% 49,535 $2.1M No change
DE Deere & Co. 0.21% 4,945 $2.1M No change
DGX Quest Diagnostics Inc. 0.21% 13,153 $2.0M No change
SWK Stanley Black & Decker Inc. 0.20% 17,845 $2.0M No change
WFC Wells Fargo & Co. 0.20% 34,082 $1.9M No change
VEU Vanguard Ftse All-World Ex-U 0.20% 30,486 $1.9M Reduce -56.9%
ORCL Oracle Corp. 0.19% 10,543 $1.8M No change
IWM iShares Russell 2000 ETF 0.18% 7,962 $1.8M Reduce -86.9%
XLP SS Consumer Staples Sel Sect 0.18% 20,269 $1.7M Reduce -83.5%
AMGN Amgen Inc. 0.17% 5,098 $1.6M No change
ACGL Arch Capital Group Ltd. 0.17% 14,315 $1.6M No change
STZ Constellation Brands Inc. Class A 0.16% 6,000 $1.5M No change
CVX Chevron Corp. 0.16% 10,220 $1.5M No change
HD Home Depot Inc. 0.14% 3,404 $1.4M No change
COWZ Pacer US Cash Cows 100 ETF 0.14% 23,753 $1.4M Reduce -6.9%
VOO Vanguard S&P 500 ETF 0.14% 2,529 $1.3M No change
MMM 3M Co. 0.14% 9,490 $1.3M No change
DOV Dover Corp. 0.13% 6,542 $1.3M No change
BDX Becton Dickinson and Co. 0.13% 5,087 $1.2M No change
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.12% 9,534 $1.1M No change
LLY Eli Lilly & Co. 0.12% 1,250 $1.1M No change
ITW Illinois Tool Works 0.11% 3,885 $1.0M No change
QQQ Invesco QQQ Trust Series 1 0.11% 2,084 $1.0M No change
GPC Genuine Parts Co. 0.10% 6,570 $918K No change
VEA Vanguard Ftse Developed ETF 0.09% 16,532 $873K Reduce -18.1%
MCD McDonald's Corp. 0.09% 2,826 $861K No change
PSX Phillips 66 0.09% 6,500 $854K No change
CTAS Cintas Corp. 0.09% 4,004 $824K No change
BIL SS SPDR BB 1-3M T-Bill ETF 0.08% 8,679 $797K No change
ONIT Onity Group Inc. 0.08% 24,798 $792K No change
PEP Pepsico Inc. 0.08% 4,631 $788K No change
CCK Crown Holdings Inc. 0.07% 7,421 $712K No change
COR Cencora Inc. 0.07% 3,045 $685K No change
ABBV Abbvie Inc. 0.07% 3,390 $669K No change
GDXJ Vaneck Junior Gold Miners 0.07% 13,550 $661K No change
ACN Accenture PLC Class A 0.07% 1,833 $648K No change
IWD iShares Russell 1000 Value E 0.07% 3,368 $639K No change
AMLP Alerian MLP ETF 0.07% 13,356 $629K Reduce -38.3%
AVY Avery Dennison Corp. 0.05% 2,230 $492K No change
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.05% 1,672 $470K No change
CARR Carrier Global Corp. 0.05% 5,840 $470K No change
GD General Dynamics Corp. 0.05% 1,554 $470K No change
NKE Nike Inc. Class B 0.04% 4,771 $422K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.04% 1,822 $403K No change
KO The Coca-Cola Co. 0.04% 5,292 $380K No change
AEG Aegon Ltd.-NY Reg SHR 0.04% 57,015 $364K No change
XBI SS SPDR S&P Biotech ETF 0.04% 3,435 $339K Reduce -47.8%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.04% 3,523 $339K No change
PKW Invesco Buyback Achievers Et 0.03% 2,675 $306K No change
XOM Exxon Mobil Corp. 0.03% 2,390 $280K No change
XLK SS Technology Select Sector 0.03% 1,227 $277K Add +1.7%
DHR Danaher Corp. 0.03% 992 $276K No change
MOAT Vaneck Morningstar Wide Moat 0.03% 2,805 $272K No change
EFG iShares MSCI Eafe Growth ETF 0.03% 2,455 $264K No change
QCOM Qualcomm Inc. 0.03% 1,448 $246K No change
DVN Devon Energy Corp. 0.02% 6,000 $235K No change
LMT Lockheed Martin Corp. 0.02% 383 $224K New
GOOG Alphabet Inc. Class C 0.02% 1,320 $221K No change

Show all 104 holdings

Portfolio Sells Q2 2024 → Q3 2024
XLB SS Materials Select Sector Reduce -80.2% 0.66% −2.83
SPY SS SPDR S&P 500 ETF Trust-US Reduce -1.4% 18.99% −1.96
IWM iShares Russell 2000 ETF Reduce -86.9% 0.18% −1.29
GSPY Gotham Enhanced 500 ETF Reduce -71.5% 0.40% −1.11
XLP SS Consumer Staples Sel Sect Reduce -83.5% 0.18% −0.95
EWJ iShares MSCI Japan ETF Reduce -8.4% 2.84% −0.55
QTEC First Trust Nasdq 100 Tech I Reduce -2.8% 1.66% −0.36
VEU Vanguard Ftse All-World Ex-U Reduce -56.9% 0.20% −0.30
BBH Vaneck Biotech ETF Reduce -4.0% 1.84% −0.25
IWR iShares Russell Mid-Cap ETF Reduce -3.5% 2.13% −0.20
IBB iShares Biotechnology ETF Reduce -1.8% 1.25% −0.13
AMLP Alerian MLP ETF Reduce -38.3% 0.07% −0.06
XLF SS Financial Select Sector Reduce -15.4% 0.23% −0.05
VTI VG Morningstar TS MKT ETF-US Reduce -3.3% 0.34% −0.04
XBI SS SPDR S&P Biotech ETF Reduce -47.8% 0.04% −0.04
VEA Vanguard Ftse Developed ETF Reduce -18.1% 0.09% −0.03
AVUV Avantis US Small Cap Value Sold out 0.00% −0.03
COWZ Pacer US Cash Cows 100 ETF Reduce -6.9% 0.14% −0.02

Portfolio Buys Q2 2024 → Q3 2024
BILS SS Spdrb B 3-12M T-Bill ETF Add +188.0% 12.34% +7.44
VGSH Vanguard Short-Term Treasury Add +40.6% 6.48% +1.29
VV Vngrd Mrgstr LRG-Cap ETF-Usd Add +389.9% 1.63% +1.26
AMZN Amazon.com Inc. Add +137.5% 0.95% +0.47
MSFT Microsoft Corp. Add +56.7% 1.51% +0.36
LEN Lennar Corp. Class A Add +11.2% 1.97% +0.35
DHI D.R. Horton Inc. Add +3.6% 1.78% +0.32
NVR NVR Inc. Add +5.7% 1.66% +0.27
PPH Vaneck Pharmaceutical ETF Add +13.3% 2.05% +0.05
LMT Lockheed Martin Corp. New 0.02% +0.02
CTV Innovid Corp. New 0.00% +0.00
CITIUS PHARMACEUTICALS INC Add +99.3% 0.01% +0.00
XLK SS Technology Select Sector Add +1.7% 0.03% −0.00
EFA iShares MSCI Eafe ETF Add +7.1% 7.72% −0.03
META Meta Platforms Inc. Class A Add +0.1% 3.69% −0.04
BRK.B Berkshire Hathaway Inc. Class B Add +0.0% 8.10% −0.11
GOOGL Alphabet Inc. Class A Add +17.2% 1.50% −0.11
XLV SS Health Care Select Sector Add +1.5% 2.03% −0.14
XLC SS Comm Select Sector SPDR Add +0.2% 1.83% −0.16
SMH Vaneck Semiconductor ETF Add +0.1% 3.03% −0.66

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