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Top 5 1st Quarter Trades of Miller Investment Management, LP

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May 15, 2022
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Miller Investment Management, LP recently filed their 13F report for the first quarter of 2022, which ended on 2022-03-31.

The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.

ONE TOWER BRIDGE WEST CONSHOHOCKEN, PA 19428

As of the latest 13F report, the guru’s equity portfolio contained 97 stocks valued at a total of $635,000,000. The top holdings were SPY(23.79%), VGSH(8.54%), and XLB(8.25%).

According to GuruFocus data, these were Miller Investment Management, LP’s top five trades of the quarter.

Vanguard FTSE All-World ex-US ETF


Miller Investment Management, LP reduced their investment in ARCA:VEU by 650,914 shares. The trade had a 5.7% impact on the equity portfolio. During the quarter, the stock traded for an average price of $58.75.

On 05/15/2022, Vanguard FTSE All-World ex-US ETF traded for a price of $52.29 per share and a market cap of $31,831,187,000. The stock has returned -12.70% over the past year.

There is insufficient data to calculate the stock’s financial strength and profitability ratings.

In terms of valuation, Vanguard FTSE All-World ex-US ETF has a price-book ratio of 1.71.

Berkshire Hathaway Inc


During the quarter, Miller Investment Management, LP bought 91,928 shares of NYSE:BRK.B for a total holding of 96,227. The trade had a 5.11% impact on the equity portfolio. During the quarter, the stock traded for an average price of $323.34.

On 05/15/2022, Berkshire Hathaway Inc traded for a price of $310.36 per share and a market cap of $684,426,289,000. The stock has returned 8.18% over the past year.

GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 8 out of 10.

In terms of valuation, Berkshire Hathaway Inc has a price-earnings ratio of 8.38, a price-book ratio of 1.35, a price-earnings-to-growth (PEG) ratio of 0.27, a EV-to-Ebitda ratio of 6.48 and a price-sales ratio of 1.97.

The price-to-GF Value ratio is 1.02, earning the stock a GF Value rank of 6.

iShares Core U.S. Aggregate Bond ETF


The guru sold out of their 259,693-share investment in ARCA:AGG. Previously, the stock had a 4.24% weight in the equity portfolio. Shares traded for an average price of $109.53 during the quarter.

On 05/15/2022, iShares Core U.S. Aggregate Bond ETF traded for a price of $102.51 per share and a market cap of $81,474,948,000. The stock has returned -8.53% over the past year.

There is insufficient data to calculate the stock’s financial strength and profitability ratings.

Vanguard Short-Term Government Bond ETF


During the quarter, Miller Investment Management, LP bought 426,768 shares of NAS:VGSH for a total holding of 915,047. The trade had a 3.98% impact on the equity portfolio. During the quarter, the stock traded for an average price of $60.04.

On 05/15/2022, Vanguard Short-Term Government Bond ETF traded for a price of $59.12 per share and a market cap of $14,580,890,000. The stock has returned -3.32% over the past year.

There is insufficient data to calculate the stock’s financial strength and profitability ratings.

S&P 500 ETF TRUST ETF


Miller Investment Management, LP reduced their investment in ARCA:SPY by 54,698 shares. The trade had a 3.72% impact on the equity portfolio. During the quarter, the stock traded for an average price of $444.05.

On 05/15/2022, S&P 500 ETF TRUST ETF traded for a price of $401.72 per share and a market cap of $361,419,450,000. The stock has returned -0.80% over the past year.

GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 8 out of 10.

In terms of valuation, S&P 500 ETF TRUST ETF has a price-earnings ratio of 20.30, a price-book ratio of 3.86, a price-earnings-to-growth (PEG) ratio of 2.30, a EV-to-Ebitda ratio of 14.36 and a price-sales ratio of 2.94.

The price-to-GF Value ratio is 0.00, earning the stock a GF Value rank of 6.


Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.

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