Miller Opportunity Trust
Data updated: 2024-03-15
C000175523 — Miller Opportunity Trust. United States Multi-Cap / All-Cap Growth Equity · $1.38B AUM. Holdings, fees, performance and SEC filings.
C000175523 Fund Overview
Miller Opportunity Trust is a US mutual fund managed by Trust for Advised Portfolios, categorised as United States Multi-Cap / All-Cap Growth Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Trust for Advised Portfolios
- Category: United States Multi-Cap / All-Cap Growth Equity
- Assets under management: $1.38B
- 1-year return: 39.6%
- SEC CIK: 0001261788
- SEC series ID: S000055730
- Share class ID: C000175523
C000175523 Investment Objective and Strategy
Miller Opportunity Trust describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Trust for Advised Portfolios.
Investment objective
The Miller Opportunity Trust (the Fund) seeks long term growth of capital.
Principal investment strategy
The Fund normally invests in securities, derivatives and other financial instruments that, in the portfolio managers opinion, offer the opportunity for long-term growth of capital. The portfolio managers exercise a flexible strategy in the selection of investments, not limited by investment style or asset class. The investment strategy typically involves identifying instances where the Adviser believes the capital markets have mispriced investment opportunities and exploiting price discrepancies and inefficiencies in the market. The Fund may invest without limit in the common stock of U.S. and foreign issuers of all sizes and in other U.S. and foreign securities, including emerging markets, and including: securities convertible into common stock; securities issued through private placements; preferred securities; warrants and rights; securities issued by investment companies, including open-end mutual funds, closed-end funds, unit investment trusts, business development companies (BDCs), private investment companies (including hedge funds and private equity funds), and foreign investment companies; U.S.
government securities; securities issued by exchange-traded funds (ETFs); securities issued by real estate investment trusts (REITs) and other issuers that invest, deal, or otherwise engage in transactions in real estate; debt securities; sovereign debt; currencies; asset-backed and mortgage-backed securities; derivative instruments including options, futures, forward contracts, swaps (including buying and selling credit default swaps), caps, floors, collars, indexed securities, currency related derivatives; commodity-linked derivatives; and other instruments, including repurchase agreements. Further, the Fund may engage in short sales of securities and other instruments to a substantial degree. The Fund may also borrow money for investment purposes, in amounts up to 10% of the Funds net assets, a practice known as leveraging.
Compliance with this percentage limit is measured as of the time of the borrowing. Although the portfolio managers consider ratings in determining whether securities convertible into common stock or debt securities are appropriate investments for the Fund, such securities may include investments rated below investment grade, commonly known as junk bonds, and unrated securities. The Fund is classified as non-diversified, which means it may invest a larger percentage of its assets in a smaller number of issuers than a diversified fund.
C000175523 Holdings
Top 10 holdings of Miller Opportunity Trust by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Expedia Group Inc | 7.97% |
| Amazon.com Inc | 6.33% |
| OneMain Holdings Inc | 6.06% |
| Citigroup Inc | 5.59% |
| Alphabet Inc | 4.81% |
| Energy Transfer LP | 4.50% |
| UBS Group AG | 4.48% |
| Delta Air Lines Inc | 4.37% |
| IAC Inc | 3.98% |
| General Motors Co | 3.90% |
C000175523 Portfolio Allocation
Asset-class allocation of Miller Opportunity Trust by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 111.7% |
| Fixed Income | 1.3% |
C000175523 Performance
Total returns for C000175523 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 39.6% |
| 3 years (annualised) | -4.6% |
C000175523 Risk Information
Risk metrics for C000175523, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 34.9%
C000175523 Costs and Fees
C000175523 costs about $125 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.25%
- Gross expense ratio: 1.27%
- Portfolio turnover: 40%
- Brokerage commissions: 15.62 bps of average net assets (SEC N-CEN)
C000175523 Cashflows
Over the 12 months to 2023-12, Miller Opportunity Trust had net inflows of $2.73B, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-12 | $29.24M |
| 2023-11 | $28.62M |
| 2023-10 | $35.65M |
| 2023-09 | $19.96M |
| 2023-08 | $32.85M |
| 2023-07 | $20.69M |
C000175523 Debt Constituents
Largest debt holdings of Miller Opportunity Trust by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Coinbase Global, Inc. | 1.13% |
| 2u, Inc. | 0.15% |
C000175523 Prospectus and SEC Filings
Official Miller Opportunity Trust filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-04-27
- Prospectus (485BPOS) — filed 2022-04-29
- Prospectus supplement (497) — filed 2023-06-21
- Portfolio holdings (N-PORT) — filed 2024-02-29
- Portfolio holdings (N-PORT) — filed 2023-11-29
- Portfolio holdings (N-PORT) — filed 2023-08-29
- Annual census (N-CEN) — filed 2024-03-15
- Annual census (N-CEN) — filed 2023-03-15
Related Funds
Other United States Multi-Cap / All-Cap Growth Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.