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Livermore
Livermore
ZHEN

Mill Capital Management, LLC

SEC CIK
0001901166
Latest filing
Aug 3, 2026

The latest 13F from Mill Capital Management, LLC covers Q2 2026 (filed Aug 3, 2026): 128 long positions worth $1.50B. The top 10 holdings make up 53.4% of the portfolio, and the largest is Apple Inc. (AAPL) at 9.7%. Livermore has 19 filings on Form 13F from this institution, going back to Q4 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
7
Est. +$2.02M
Added
21
Est. +$35.6M
Reduced
41
Est. −$48.3M
Sold out
9
Est. −$2.72M

Top 5 holdings

Share of this quarter's portfolio value

  1. AAPLApple Inc.
    9.7%$145.4MHistory
  2. MUMicron Technology Inc
    7.9%$117.6MHistory
  3. GOOGAlphabet Inc.
    7.6%$114.5MHistory
  4. MSFTMicrosoft Corp
    5.0%$75.2MHistory
  5. BRK.ABerkshire Hathaway Inc
    5.0%$74.9MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. LLYEli Lilly & Co
    +$28.3MAddedHistory
  2. BSXBoston Scientific Corp
    +$3.46MAddedHistory
  3. APHAmphenol Corp
    +$1.89MAddedHistory
  4. ICEIntercontinental Exchange, Inc.
    +$642.3KAddedHistory
  5. HONHoneywell International Inc
    +$424.1KNewHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. LLYEli Lilly & Co
    +1.91 pp0.1% → 2.0%History
  2. ASMLASML Holding NV
    +0.66 pp2.0% → 2.7%History
  3. APHAmphenol Corp
    +0.31 pp0.8% → 1.2%History
  4. TDGTransDigm Group INC
    +0.04 pp2.2% → 2.2%History
  5. HONHoneywell International Inc
    +0.03 pp0.0% → <0.1%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. MUMicron Technology Inc
    −$23.2MReducedHistory
  2. TMOThermo Fisher Scientific Inc.
    −$12.4MReducedHistory
  3. GOOGAlphabet Inc.
    −$2.69MReducedHistory
  4. BRK.BBerkshire Hathaway Inc
    −$1.59MReducedHistory
  5. BRK.ABerkshire Hathaway Inc
    −$1.50MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. XOMExxonMobil Holdings Corp
    −1.39 pp4.7% → 3.3%History
  2. TMOThermo Fisher Scientific Inc.
    −1.14 pp3.0% → 1.9%History
  3. BRK.ABerkshire Hathaway Inc
    −0.57 pp5.6% → 5.0%History
  4. BRK.BBerkshire Hathaway Inc
    −0.38 pp3.3% → 2.9%History
  5. AMTAmerican Tower Corp
    −0.32 pp1.6% → 1.3%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$1.50B
+$182.5M (+13.9%) vs. prior quarter
Positions
128
−2 vs. prior quarter
Top 10 concentration
53.4%
Top 10 as share of value
Turnover
2.7%
Q2 2026, one quarter
Average holding period
17.4 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q4 2021), so positions held before then are understated.

13F filings by quarter

19 quarters, going back to Q4 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $1.50B (Q2 2026)

Q4 2021: $976.5MQ1 2022: $1.05BQ2 2022: $902.9MQ3 2022: $856.8MQ4 2022: $910.5MQ1 2023: $984.8MQ2 2023: $1.06BQ3 2023: $1.02BQ4 2023: $1.12BQ1 2024: $1.20BQ2 2024: $1.21BQ3 2024: $1.28BQ4 2024: $1.27BQ1 2025: $1.25BQ2 2025: $1.28BQ3 2025: $1.35BQ4 2025: $1.39BQ1 2026: $1.31BQ2 2026: $1.50B
Q4 2021Q2 2026
13F filings of Mill Capital Management, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 3, 2026128$1.50BAAPLMUGOOGvs. Q1 2026SEC
Q1 2026May 4, 2026130$1.31BAAPLGOOGMSFTvs. Q4 2025SEC
Q4 2025Feb 11, 2026129$1.39BAAPLGOOGMSFTvs. Q3 2025SEC
Q3 2025Oct 29, 2025122$1.35BAAPLMSFTBRK.Avs. Q2 2025SEC
Q2 2025Aug 4, 2025120$1.28BAAPLMSFTBRK.Avs. Q1 2025SEC
Q1 2025Apr 23, 2025119$1.25BAAPLBRK.AMSFTvs. Q4 2024SEC
Q4 2024Feb 11, 2025124$1.27BAAPLMSFTBRK.Avs. Q3 2024SEC
Q3 2024Oct 29, 2024124$1.28BAAPLMSFTBRK.Avs. Q2 2024SEC
Q2 2024Jul 31, 2024120$1.21BAAPLMSFTBRK.Avs. Q1 2024SEC
Q1 2024Apr 30, 2024121$1.20BAAPLBRK.AMSFTvs. Q4 2023SEC
Q4 2023Jan 30, 2024119$1.12BAAPLMSFTBRK.Avs. Q3 2023SEC
Q3 2023Oct 19, 2023117$1.02BAAPLBRK.AMSFTvs. Q2 2023SEC
Q2 2023Jul 20, 2023126$1.06BAAPLBRK.AMSFTvs. Q1 2023SEC
Q1 2023May 1, 2023132$984.8MAAPLBRK.AMSFTvs. Q4 2022SEC
Q4 2022Jan 20, 2023133$910.5MAAPLBRK.AMSFTvs. Q3 2022SEC
Q3 2022Oct 18, 2022123$856.8MAAPLBRK.AMSFTvs. Q2 2022SEC
Q2 2022Jul 29, 2022125$902.9MAAPLBRK.AMSFTvs. Q1 2022SEC
Q1 2022Apr 26, 2022134$1.05BAAPLBRK.AMSFTvs. Q4 2021SEC
Q4 2021Feb 14, 2022124$976.5MAAPLBRK.AMSFT–SEC