Mill Capital Management 13F annual report

Mill Capital Management is an investment fund managing more than $1.2 trillion ran by Paul Clark. There are currently 112 companies in Mr. Clark’s portfolio. The largest investments include Apple Inc and Berkshire Hathaway, together worth $228 billion.

Limited to 30 biggest holdings

$1.2 trillion Assets Under Management (AUM)

As of 23rd April 2024, Mill Capital Management’s top holding is 581,810 shares of Apple Inc currently worth over $99.8 billion and making up 8.3% of the portfolio value. Relative to the number of outstanding shares of Apple Inc, Mill Capital Management owns more than approximately 0.1% of the company. In addition, the fund holds 70,283 shares of Berkshire Hathaway worth $128 billion, whose value grew 19.2% in the past six months. The third-largest holding is Microsoft worth $91.4 billion and the next is Alphabet Inc worth $72.7 billion, with 478,281 shares owned.

Currently, Mill Capital Management's portfolio is worth at least $1.2 trillion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Mill Capital Management

The Mill Capital Management office and employees reside in Concord, North Carolina. According to the last 13-F report filed with the SEC, Paul Clark serves as the CCO/ Principal at Mill Capital Management.

Recent trades

In the most recent 13F filing, Mill Capital Management revealed that it had opened a new position in Corpay Inc and bought 50,296 shares worth $15.5 billion.

The investment fund also strengthened its position in Berkshire Hathaway by buying 1,566 additional shares. This makes their stake in Berkshire Hathaway total 70,283 shares worth $128 billion. Berkshire Hathaway dropped approximately 0.1% in the past year.

On the other hand, there are companies that Mill Capital Management is getting rid of from its portfolio. Mill Capital Management closed its position in Fleetcor Technologies Inc on 30th April 2024. It sold the previously owned 50,270 shares for $14.2 billion. Paul Clark also disclosed a decreased stake in Apple Inc by approximately 0.1%. This leaves the value of the investment at $99.8 billion and 581,810 shares.

One of the largest hedge funds

The two most similar investment funds to Mill Capital Management are Rehmann Capital Advisory and Schaper Benz & Wise Investment Counsel Inc/wi. They manage $1.2 trillion and $1.2 trillion respectively.


Paul Clark investment strategy

Mill Capital Management’s portfolio is diversified across 12 sectors. Currently, their heaviest sector is Finance — making up 21.9% of the total portfolio value. The fund focuses on investments in the United States as 54.5% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 59% of the total holdings value. On the other hand, small-cap stocks make up only 2.7% of the portfolio. The average market cap of the portfolio companies is close to $192 billion.

The complete list of Mill Capital Management trades based on 13F SEC filings

These positions were updated on April 30th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security Shares Owned Value Allocation
Apple Inc
0.93%
581,810
$99,768,793,000 8.33%
Berkshire Hathaway Inc.
2.28%
70,283
$127,828,427,000 10.68%
Microsoft Corporation
5.52%
217,131
$91,351,375,000 7.63%
Alphabet Inc
2.51%
478,281
$72,715,875,000 6.07%
Visa Inc
0.55%
204,474
$57,064,619,000 4.77%
Thermo Fisher Scientific Inc.
0.39%
77,109
$44,816,525,000 3.74%
JPMorgan Chase & Co.
5.10%
211,772
$42,417,972,000 3.54%
Amazon.com Inc.
10.09%
196,375
$35,422,123,000 2.96%
Transdigm Group Incorporated
2.11%
26,717
$32,904,658,000 2.75%
Union Pac Corp
0.44%
126,977
$31,227,477,000 2.61%
American Express Co.
0.05%
127,362
$28,999,054,000 2.42%
Comcast Corp New
3.31%
648,052
$28,093,074,000 2.35%
Exxon Mobil Corp.
0.17%
230,303
$26,770,363,000 2.24%
Copart, Inc.
0.45%
430,856
$24,955,180,000 2.08%
Unitedhealth Group Inc
13.69%
48,919
$24,200,245,000 2.02%
Disney Walt Co
0.33%
191,343
$23,412,755,000 1.96%
American Tower Corp.
0.35%
116,964
$23,110,934,000 1.93%
Fiserv, Inc.
0.31%
134,993
$21,574,582,000 1.80%
Booking Holdings Inc
0.66%
5,575
$20,225,431,000 1.69%
Micron Technology Inc.
0.02%
159,918
$18,852,739,000 1.57%
Intercontinental Exchange In
0.60%
135,878
$18,673,714,000 1.56%
Johnson & Johnson
0.09%
115,391
$18,253,728,000 1.52%
Linde Plc.
0.48%
38,459
$17,857,283,000 1.49%
Diageo plc
0.18%
109,112
$16,229,319,000 1.36%
Corpay Inc
Opened
50,296
$15,518,328,000 1.30%
Pioneer Nat Res Co
0.99%
58,572
$15,375,162,000 1.28%
Salesforce Inc
0.90%
50,173
$15,111,105,000 1.26%
Fleetcor Technologies Inc
Closed
50,270
$14,206,805,000
Laboratory Corp Amer Hldgs
0.45%
62,809
$13,721,255,000 1.15%
L3Harris Technologies Inc
0.70%
59,611
$12,703,118,000 1.06%
Lauder Estee Cos Inc
0.11%
76,018
$11,718,175,000 0.98%
Merck & Co Inc
0.45%
87,548
$11,551,959,000 0.96%
Schwab Charles Corp
0.12%
151,231
$10,940,056,000 0.91%
Zoetis Inc
1.06%
47,114
$7,972,160,000 0.67%
Philip Morris International Inc
3.49%
77,923
$7,139,306,000 0.60%
Procter And Gamble Co
4.34%
38,566
$6,257,334,000 0.52%
Pfizer Inc.
0.98%
202,970
$5,632,418,000 0.47%
Elevance Health Inc
No change
10,458
$5,422,892,000 0.45%
Trane Technologies plc
No change
17,979
$5,397,296,000 0.45%
Wells Fargo Co New
0.70%
88,168
$5,110,218,000 0.43%
Mondelez International Inc.
2.04%
67,432
$4,720,240,000 0.39%
Chevron Corp.
No change
28,236
$4,453,947,000 0.37%
Lam Research Corp.
1.11%
4,000
$3,886,280,000 0.32%
Martin Marietta Matls Inc
No change
6,225
$3,821,777,000 0.32%
Eaton Corp Plc
No change
11,800
$3,689,624,000 0.31%
Caterpillar Inc.
No change
9,737
$3,567,929,000 0.30%
General Electric Co
0.06%
19,467
$3,417,043,000 0.29%
Norfolk Southn Corp
No change
12,926
$3,294,450,000 0.28%
Yum Brands Inc.
No change
21,717
$3,011,063,000 0.25%
Coca-Cola Co
0.09%
46,677
$2,855,699,000 0.24%
Home Depot, Inc.
No change
7,400
$2,838,640,000 0.24%
Bristol-Myers Squibb Co.
7.65%
51,533
$2,794,635,000 0.23%
Duke Energy Corp.
No change
27,018
$2,612,911,000 0.22%
Shell Plc
No change
38,490
$2,580,370,000 0.22%
Conocophillips
No change
18,865
$2,401,138,000 0.20%
Republic Svcs Inc
No change
11,102
$2,125,367,000 0.18%
United Parcel Service, Inc.
2.76%
14,100
$2,095,683,000 0.18%
Nike, Inc.
No change
21,949
$2,062,768,000 0.17%
Oracle Corp.
No change
15,897
$1,996,823,000 0.17%
Texas Instrs Inc
No change
11,100
$1,933,731,000 0.16%
Becton Dickinson & Co.
No change
7,078
$1,751,452,000 0.15%
Emerson Elec Co
No change
14,377
$1,630,640,000 0.14%
Mcdonalds Corp
0.25%
5,629
$1,587,097,000 0.13%
NextEra Energy Inc
No change
24,000
$1,533,840,000 0.13%
Stryker Corp.
13.47%
4,170
$1,492,318,000 0.12%
3M Co.
19.94%
13,356
$1,416,671,000 0.12%
Ingersoll Rand Inc.
No change
14,860
$1,410,957,000 0.12%
Eli Lilly & Co
No change
1,803
$1,402,662,000 0.12%
Bank America Corp
No change
36,601
$1,387,910,000 0.12%
Lowes Cos Inc
No change
5,309
$1,352,362,000 0.11%
Kimberly-Clark Corp.
No change
9,863
$1,275,780,000 0.11%
Pepsico Inc
0.43%
7,132
$1,248,172,000 0.10%
Tjx Cos Inc New
14.83%
11,200
$1,135,904,000 0.09%
Goldman Sachs Group, Inc.
No change
2,550
$1,065,110,000 0.09%
International Business Machs
No change
5,465
$1,043,597,000 0.09%
Altria Group Inc.
12.14%
23,886
$1,041,908,000 0.09%
Loews Corp.
8.81%
13,200
$1,033,428,000 0.09%
Motorola Solutions Inc
19.17%
2,910
$1,032,992,000 0.09%
Chubb Limited
No change
3,892
$1,008,534,000 0.08%
CME Group Inc
No change
4,500
$968,805,000 0.08%
Zimmer Biomet Holdings Inc
No change
6,761
$892,317,000 0.07%
First Ctzns Bancshares Inc N
No change
525
$858,375,000 0.07%
Phillips 66
No change
5,145
$840,385,000 0.07%
Abbvie Inc
No change
4,382
$797,963,000 0.07%
Novartis AG
3.58%
8,084
$781,966,000 0.07%
Honeywell International Inc
10.86%
3,488
$715,912,000 0.06%
BP plc
No change
18,276
$688,640,000 0.06%
Ge Healthcare Technologies I
0.06%
7,108
$646,189,000 0.05%
Ishares Gold Tr
Closed
16,250
$634,238,000
Fifth Third Bancorp
47.72%
16,432
$611,435,000 0.05%
Cummins Inc.
No change
1,666
$490,887,000 0.04%
Garmin Ltd
No change
3,000
$446,610,000 0.04%
Yum China Holdings Inc
No change
10,790
$429,335,000 0.04%
DuPont de Nemours Inc
No change
5,478
$419,999,000 0.04%
WEC Energy Group Inc
No change
4,824
$396,147,000 0.03%
Equity Residential
No change
6,250
$394,438,000 0.03%
Dow Inc
No change
6,714
$388,943,000 0.03%
Enbridge Inc
28.99%
9,794
$354,347,000 0.03%
Lincoln Natl Corp Ind
No change
10,944
$349,442,000 0.03%
Pnc Finl Svcs Group Inc
37.09%
2,076
$335,482,000 0.03%
Old Rep Intl Corp
0.89%
9,902
$304,185,000 0.03%
Applied Matls Inc
No change
1,300
$268,099,000 0.02%
Regions Financial Corp.
No change
11,880
$249,956,000 0.02%
Automatic Data Processing In
No change
1,000
$249,740,000 0.02%
Global Pmts Inc
No change
1,831
$244,732,000 0.02%
Quest Diagnostics, Inc.
No change
1,808
$240,663,000 0.02%
Broadcom Inc.
18.60%
175
$231,947,000 0.02%
Travelers Companies Inc.
Opened
1,000
$230,140,000 0.02%
Illinois Tool Wks Inc
No change
857
$229,959,000 0.02%
Ishares Tr
Opened
1,900
$207,423,000 0.02%
SouthState Corporation
No change
2,439
$207,389,000 0.02%
Ishares Tr
49.76%
7,697
$959,062,000 0.08%
Old Point Finl Corp
No change
11,925
$203,202,000 0.02%
Fedex Corp
Opened
700
$202,818,000 0.02%
No transactions found
Showing first 500 out of 114 holdings