MILLER INVESTMENT MANAGEMENT, LP

Filed: 8/6/2025ACC: 0001407382-25-000009

📋 What this filing means

MILLER INVESTMENT MANAGEMENT, LP filed this quarterly 13F‑HR report disclosing 96 equity positions with a total reported market value of $952.42M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

Positions

$952.42M

Total AUM (reported)

6.39M

Total Shares

Allocation by class

TR UNIT$194.77M20.4%

COM$126.03M13.2%

BLOOMBERG 3-12 M$110.18M11.6%

CL B NEW$80.27M8.4%

MSCI EAFE ETF$73.33M7.7%

SHORT TERM TREAS$60.82M6.4%

CL A$58.75M6.2%

Portfolio Concentration

Top 3$385.21M40.4%

4–10$281.76M29.6%

11–25$186.82M19.6%

Rest$98.63M10.4%

Top 3 weight

40.4%

Top 10 weight

70.0%

Voting Authority Distribution

Total shares with voting rights: 6.39M

Sole

Full voting authority

127.06K

% of voting shares2.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

6.27M

% of voting shares98.0%

Investment Discretion (by position count)

Sole96

Shared0

Other0

Dominant voting typeNone · 98.0% of voting shares

Institutional Holdings96

Rows:

SPDR S&P 500 ETF TR

SOLE

TR UNIT

Shares315.24K

TypeSH

Market value$194.77M

20.45%

Sole

6.04K

Shared

0.00

None

309.20K

SPDR SER TR

SOLE

BLOOMBERG 3-12 M

Shares1.11M

TypeSH

Market value$110.18M

11.57%

Sole

29.18K

Shared

0.00

None

1.08M

BERKSHIRE HATHAWAY INC DEL

SOLE

CL B NEW

Shares165.24K

TypeSH

Market value$80.27M

8.43%

Sole

4.74K

Shared

0.00

None

160.50K

ISHARES TR

SOLE

MSCI EAFE ETF

Shares820.37K

TypeSH

Market value$73.33M

7.70%

Sole

15.96K

Shared

0.00

None

804.41K

VANGUARD SCOTTSDALE FDS

SOLE

SHORT TERM TREAS

Shares1.03M

TypeSH

Market value$60.82M

6.39%

Sole

24.44K

Shared

0.00

None

1.01M

META PLATFORMS INC

SOLE

CL A

Shares61.11K

TypeSH

Market value$45.10M

4.74%

Sole

2.23K

Shared

0.00

None

58.88K

VANECK VECTORS ETF TR

SOLE

SEMICONDUCTOR ET

Shares119.03K

TypeSH

Market value$33.20M

3.49%

Sole

3.34K

Shared

0.00

None

115.69K

ISHARES INC

SOLE

MSCI JPN ETF NEW

Shares369.35K

TypeSH

Market value$27.69M

2.91%

Sole

5.80K

Shared

0.00

None

363.55K

ISHARES TR

SOLE

RUS MID CAP ETF

Shares226.92K

TypeSH

Market value$20.87M

2.19%

Sole

3.58K

Shared

0.00

None

223.34K

SELECT SECTOR SPDR TR

SOLE

COMMUNICATION

Shares191.16K

TypeSH

Market value$20.75M

2.18%

Sole

3.04K

Shared

0.00

None

188.12K

SELECT SECTOR SPDR TR

SOLE

SBI HEALTHCARE

Shares138.22K

TypeSH

Market value$18.63M

1.96%

Sole

6.25K

Shared

0.00

None

131.97K

VANGUARD INDEX FDS

SOLE

LARGE CAP ETF

Shares62.23K

TypeSH

Market value$17.75M

1.86%

Sole

0.00

Shared

0.00

None

62.23K

MICROSOFT CORPORATION

SOLE

COM

Shares33.41K

TypeSH

Market value$16.62M

1.74%

Sole

462.00

Shared

0.00

None

32.95K

ALPHABET INC

SOLE

CAP STK CL A

Shares92.88K

TypeSH

Market value$16.37M

1.72%

Sole

6.04K

Shared

0.00

None

86.84K

VANECK ETF TRUST

SOLE

PHARMACEUTCL ETF

Shares181.54K

TypeSH

Market value$15.97M

1.68%

Sole

2.55K

Shared

0.00

None

178.98K

FIRST TR NASDAQ 100 TECH IND

SOLE

SHS

Shares69.39K

TypeSH

Market value$14.77M

1.55%

Sole

0.00

Shared

0.00

None

69.39K

VANECK ETF TRUST

SOLE

BIOTECH ETF

Shares81.43K

TypeSH

Market value$12.48M

1.31%

Sole

1.42K

Shared

0.00

None

80.01K

NVR INC

SOLE

COM

Shares1.58K

TypeSH

Market value$11.65M

1.22%

Sole

35.00

Shared

0.00

None

1.54K

D R HORTON INC

SOLE

COM

Shares86.69K

TypeSH

Market value$11.18M

1.17%

Sole

2.04K

Shared

0.00

None

84.65K

LENNAR CORP

SOLE

CL A

Shares98.54K

TypeSH

Market value$10.90M

1.14%

Sole

2.33K

Shared

0.00

None

96.21K

AMAZON COM INC

SOLE

COM

Shares48.66K

TypeSH

Market value$10.67M

1.12%

Sole

1.07K

Shared

0.00

None

47.58K

ISHARES TR

SOLE

ISHARES BIOTECH

Shares81.95K

TypeSH

Market value$10.37M

1.09%

Sole

0.00

Shared

0.00

None

81.95K

UNITED RENTALS INC

SOLE

COM

Shares12.08K

TypeSH

Market value$9.10M

0.96%

Sole

0.00

Shared

0.00

None

12.08K

JPMORGAN CHASE & CO

SOLE

COM

Shares18.93K

TypeSH

Market value$5.49M

0.58%

Sole

0.00

Shared

0.00

None

18.93K

VANGUARD SPECIALIZED FUNDS

SOLE

DIV APP ETF

Shares23.83K

TypeSH

Market value$4.88M

0.51%

Sole

0.00

Shared

0.00

None

23.83K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
SPDR S&P 500 ETF TRSOLE	TR UNIT	315.24K	SH	$194.77M 20.45%	6.04K	309.20K
SPDR SER TRSOLE	BLOOMBERG 3-12 M	1.11M	SH	$110.18M 11.57%	29.18K	1.08M
BERKSHIRE HATHAWAY INC DELSOLE	CL B NEW	165.24K	SH	$80.27M 8.43%	4.74K	160.50K
ISHARES TRSOLE	MSCI EAFE ETF	820.37K	SH	$73.33M 7.70%	15.96K	804.41K
VANGUARD SCOTTSDALE FDSSOLE	SHORT TERM TREAS	1.03M	SH	$60.82M 6.39%	24.44K	1.01M
META PLATFORMS INCSOLE	CL A	61.11K	SH	$45.10M 4.74%	2.23K	58.88K
VANECK VECTORS ETF TRSOLE	SEMICONDUCTOR ET	119.03K	SH	$33.20M 3.49%	3.34K	115.69K
ISHARES INCSOLE	MSCI JPN ETF NEW	369.35K	SH	$27.69M 2.91%	5.80K	363.55K
ISHARES TRSOLE	RUS MID CAP ETF	226.92K	SH	$20.87M 2.19%	3.58K	223.34K
SELECT SECTOR SPDR TRSOLE	COMMUNICATION	191.16K	SH	$20.75M 2.18%	3.04K	188.12K
SELECT SECTOR SPDR TRSOLE	SBI HEALTHCARE	138.22K	SH	$18.63M 1.96%	6.25K	131.97K
VANGUARD INDEX FDSSOLE	LARGE CAP ETF	62.23K	SH	$17.75M 1.86%	0.00	62.23K
MICROSOFT CORPORATIONSOLE	COM	33.41K	SH	$16.62M 1.74%	462.00	32.95K
ALPHABET INCSOLE	CAP STK CL A	92.88K	SH	$16.37M 1.72%	6.04K	86.84K
VANECK ETF TRUSTSOLE	PHARMACEUTCL ETF	181.54K	SH	$15.97M 1.68%	2.55K	178.98K
FIRST TR NASDAQ 100 TECH INDSOLE	SHS	69.39K	SH	$14.77M 1.55%	0.00	69.39K
VANECK ETF TRUSTSOLE	BIOTECH ETF	81.43K	SH	$12.48M 1.31%	1.42K	80.01K
NVR INCSOLE	COM	1.58K	SH	$11.65M 1.22%	35.00	1.54K
D R HORTON INCSOLE	COM	86.69K	SH	$11.18M 1.17%	2.04K	84.65K
LENNAR CORPSOLE	CL A	98.54K	SH	$10.90M 1.14%	2.33K	96.21K
AMAZON COM INCSOLE	COM	48.66K	SH	$10.67M 1.12%	1.07K	47.58K
ISHARES TRSOLE	ISHARES BIOTECH	81.95K	SH	$10.37M 1.09%	0.00	81.95K
UNITED RENTALS INCSOLE	COM	12.08K	SH	$9.10M 0.96%	0.00	12.08K
JPMORGAN CHASE & COSOLE	COM	18.93K	SH	$5.49M 0.58%	0.00	18.93K
VANGUARD SPECIALIZED FUNDSSOLE	DIV APP ETF	23.83K	SH	$4.88M 0.51%	0.00	23.83K

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