Q2 2026 13F · SEC CIK 1407382

Miller Investment Management, LP

Wealth managerFiled 2026-08-13 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $1.1B
Reported positions: 83
Top holdings a year, 3 yrs: +14.9%
Assets under management: $7.1B

Miller Investment Management, LP is a wealth manager that reported 83 positions worth $1.1B in its Q2 2026 13F, filed 2026-08-13. Its largest holdings were Spdr S&p 500 ETF Tr (SPY, 20.3%), Spdr Series Trust (BILS, 11.1%), Vanguard Short-Term Treasury ETF Total (VGSH, 8.2%). A portfolio copying its top holdings returned 14.9% a year over the last 3 years, against 20.4% for the S&P 500.

Miller Investment Management, LP holdings largest 50 of 83 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Miller Investment Management, LP 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
SPYSpdr S&p 500 ETF Tr	20.3%	18.9%	297,731	+1.9%	$222.3M
BILSSpdr Series Trust	11.1%	12.4%	1,225,012	-2.8%	$121.7M
VGSHVanguard Short-Term Treasury ETF Total	8.2%	9.7%	1,537,843	-8.1%	$89.5M
BRK-BBerkshire Hathaway Inc Del	7.3%	7.3%	158,746	+2.9%	$79.4M
VGITVanguard Intermediate Treasury ETF	7.0%	7.8%	1,300,506	-1.9%	$76.7M
EFAiShs MSCI EAFE	6.2%	6.3%	649,538	-0.4%	$67.5M
SMHVaneck Semiconductor ETF	5.7%	3.6%	95,530	+0.7%	$62.7M
METAMeta Platforms Inc Class A	3.1%	3.3%	59,978	+3.6%	$33.8M
GOOGLAlphabet Inc	2.9%	2.5%	89,592	+1.9%	$32.0M
VVVanguard Inx Lrg	2.8%	2.6%	90,501	+4.3%	$31.1M
EWJIshares Inc	2.8%	2.7%	328,285	+1.6%	$30.6M
XLVSelect Sector Spdr Tr	2.8%	3.0%	192,381	-5.2%	$30.5M
IWRIshares Russell Midcap ETF	1.9%	1.8%	191,472	+1.7%	$21.1M
XLCSelect Sector Spdr Tr	1.7%	1.9%	171,942	+1.8%	$18.4M
VEAVanguard Tax-Managed Fds	1.6%	1.3%	243,657	+19.1%	$17.4M
VBILVanguard Instl Index Fd	1.5%	1.5%	212,630	+8.5%	$16.1M
MSFTMicrosoft Corp	1.3%	1.3%	37,833	+5.0%	$14.1M
AMZNAmazon Com Inc Com	1.2%	1.1%	53,686	+2.3%	$12.8M
URIUnited Rentals Inc Com	1.2%	0.8%	11,266	-3.8%	$12.8M
PPHVaneck Vectors ETF Tr	1.0%	1.4%	100,256	-25.1%	$11.0M
BBHVaneck ETF Trust	0.7%	0.7%	38,226	-1.9%	$7.8M
CAHCardinal Health Inc	0.5%	0.5%	23,553	+0.0%	$5.6M
IBBIshares Tr	0.4%	0.6%	25,040	-28.6%	$4.8M
VTIVanguard Index Fds	0.4%	0.3%	10,429	+0.0%	$3.9M
VIGVanguard Dividend Appreciation ETF	0.4%	0.3%	16,293	+0.0%	$3.9M
JPMJpmorgan Chase & Co	0.3%	0.3%	11,410	+0.0%	$3.7M
JNJJohnson & Johnson	0.3%	0.3%	12,849	+0.0%	$3.3M
PNCPnc Finl Svcs Group Inc	0.3%	0.3%	12,580	+0.0%	$3.1M
DIAState Street Spdr Dow Jones Industrial A	0.3%	0.3%	5,717	+0.0%	$3.0M
AAPLApple Inc	0.2%	0.2%	9,215	-0.3%	$2.7M
DEDeere & Co Com	0.2%	0.2%	4,185	+0.0%	$2.7M
EMREmerson Elec Co Com	0.2%	0.2%	16,570	-12.7%	$2.4M
CNCCentene Corp Del	0.2%	0.1%	33,795	-2.9%	$2.2M
ORCLOracle Corp	0.2%	0.2%	14,571	+15.9%	$2.1M
RTXRtx Corporation Com	0.2%	0.2%	10,350	+0.0%	$2.0M
AMGNAmgen Inc Com	0.2%	0.2%	5,098	+0.0%	$1.8M
IWMIshares	0.2%	0.2%	6,138	+0.0%	$1.8M
WFCWells Fargo Co New	0.2%	0.2%	20,342	+0.0%	$1.7M
GSPYTidal ETF Tr	0.2%	0.1%	40,578	+0.0%	$1.6M
DGXQuest Diagnostics Inc	0.1%	0.1%	7,586	+0.0%	$1.6M
QQQInvesco Qqq Tr	0.1%	0.1%	2,084	+0.0%	$1.5M
LLYLilly Eli & Co	0.1%	0.1%	1,250	+0.0%	$1.5M
TJXTjx Cos Inc New Com	0.1%	0.1%	9,214	+0.0%	$1.4M
MDTMedtronic PLC	0.1%	0.1%	15,885	+0.0%	$1.2M
DISDisney Walt Co	0.1%	—	12,327	—	$1.2M
HDHome Depot Inc Com	0.1%	0.1%	3,275	+0.0%	$1.2M
APHAmphenol Corp	0.1%	—	6,472	—	$1.1M
PSXPhillips 66	0.1%	0.1%	6,500	+0.0%	$1.1M
UPSUnited Parcel Svcs Inc Cl B	0.1%	0.1%	9,947	+0.0%	$1.1M
KMBKimberly-Clark Corporation	0.1%	—	9,321	—	$1.0M

What Miller Investment Management, LP bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

VEA Vanguard Tax-Managed Fds+19.1% shares
ORCL Oracle Corp+15.9% shares
VBIL Vanguard Instl Index Fd+8.5% shares
MSFT Microsoft Corp+5.0% shares

Reduced

IBB Ishares Tr-28.6% shares
PPH Vaneck Vectors ETF Tr-25.1% shares
EMR Emerson Elec Co Com-12.7% shares
VGSH Vanguard Short-Term Treasury ETF Total-8.1% shares
XLV Select Sector Spdr Tr-5.2% shares

Left the top 50

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +12.4% /yr; S&P 500 +20.1%
3 years: +14.9% /yr; S&P 500 +20.4%
5 years: +8.1% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$1.1B	83
Q1 2026	$1.0B	86
Q4 2025	$1.0B	89
Q3 2025	$995.1M	98
Q2 2025	$952.4M	96
Q1 2025	$904.0M	97
Q4 2024	$913.6M	100
Q3 2024	$960.4M	104
Q2 2024	$836.9M	103
Q1 2024	$782.7M	105
Q4 2023	$702.9M	102
Q3 2023	$635.4M	97

Questions about Miller Investment Management, LP's portfolio

What stocks does Miller Investment Management, LP own?

Miller Investment Management, LP's latest 13F, for Q2 2026 and filed Aug 13, 2026, lists 83 positions worth $1.1B. The largest are Spdr S&p 500 ETF Tr (SPY) at 20.3%, Spdr Series Trust (BILS) at 11.1%, Vanguard Short-Term Treasury ETF Total (VGSH) at 8.2%, Berkshire Hathaway Inc Del (BRK-B) at 7.3% and Vanguard Intermediate Treasury ETF (VGIT) at 7.0%.

What did Miller Investment Management, LP buy last quarter?

In Q2 2026, Miller Investment Management, LP added Vanguard Tax-Managed Fds (VEA) (+19.1% shares), Oracle Corp (ORCL) (+15.9% shares) and Vanguard Instl Index Fd (VBIL) (+8.5% shares), compared with its Q1 2026 filing.

What did Miller Investment Management, LP sell last quarter?

In Q2 2026, Miller Investment Management, LP cut from its top 50 Chevron Corp New (CVX), cut from its top 50 Onity Group Inc (ONIT), cut from its top 50 Cencora Inc Com (COR), Ishares Tr (IBB) (-28.6% shares), Vaneck Vectors ETF Tr (PPH) (-25.1% shares) and Emerson Elec Co Com (EMR) (-12.7% shares), compared with its Q1 2026 filing.

How has Miller Investment Management, LP's portfolio performed?

A portfolio copying Miller Investment Management, LP's 20 largest 13F holdings each quarter, from the day each filing was public, returned +14.9% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +12.4% against +20.1%. Over 5 years: +8.1% a year against +11.6%.

When is Miller Investment Management, LP's next 13F filing due?

13F filings are due 45 days after each quarter ends. Miller Investment Management, LP's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Miller Investment Management, LP manage?

Miller Investment Management, LP reported $7.1B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $1.1B.