MMNAX — Miller Market Neutral Income Fund
Data updated: 2026-06-16
MMNAX — Miller Market Neutral Income Fund data: holdings, portfolio allocation, expenses, performance, cashflows, risk and SEC filings. Market-Neutral · $235.25M AUM · 2.06% expense ratio. From SEC regulatory filings.
MMNAX Fund Overview
MMNAX — Miller Market Neutral Income Fund is a US mutual fund managed by Miller Investment Trust, categorised as Market-Neutral. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Miller Investment Trust
- Category: Market-Neutral
- Assets under management: $235.25M
- Ticker: MMNAX
- SEC CIK: 0001414039
- SEC series ID: S000073803
- Share class ID: C000230986
MMNAX Holdings
Top 10 holdings of Miller Market Neutral Income Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Bnp Cash Deposit Acct | 50.28% |
| Jazz Investments I Ltd. | 3.17% |
| Avnet, Inc. | 2.78% |
| Ppl Capital Funding, Inc. | 2.64% |
| Fluor Corp. | 2.57% |
| Ascendis Pharma A/s | 2.47% |
| World Kinect Corp. | 2.44% |
| Alliant Energy Corp. | 2.28% |
| Array Technologies, Inc. | 2.21% |
| Zoetis, Inc. | 2.10% |
MMNAX Portfolio Allocation
Asset-class allocation of Miller Market Neutral Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 92.3% |
| Cash & Equivalents | 51.2% |
| Equity | 1.0% |
MMNAX Performance
Total returns for MMNAX (as of 2026-08-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 2.6% |
| 1 year | 9.5% |
| 3 years (annualised) | 9.2% |
MMNAX Risk Information
Risk metrics for MMNAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 1.6%
MMNAX Costs and Fees
MMNAX costs about $206 per $10,000 invested per year in fund expenses.
- Net expense ratio: 2.06%
- Gross expense ratio: 2.06%
- Portfolio turnover: 467%
- Brokerage commissions: 0.84 bps of average net assets (SEC N-CEN)
MMNAX Cashflows
Over the 12 months to 2026-04, Miller Market Neutral Income Fund had net inflows of $177.10M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | $54.50M |
| 2026-03 | $5.89M |
| 2026-02 | $31.61M |
| 2026-01 | $10.71M |
| 2025-12 | $12.12M |
| 2025-11 | $4.00M |
MMNAX Debt Constituents
Largest debt holdings of Miller Market Neutral Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Jazz Investments I Ltd. | 3.17% |
| Avnet, Inc. | 2.78% |
| Ppl Capital Funding, Inc. | 2.64% |
| Fluor Corp. | 2.57% |
| Ascendis Pharma A/s | 2.47% |
| World Kinect Corp. | 2.44% |
| Alliant Energy Corp. | 2.28% |
| Array Technologies, Inc. | 2.21% |
| Zoetis, Inc. | 2.10% |
| Pitney Bowes, Inc. | 2.09% |
MMNAX Prospectus and SEC Filings
Official Miller Market Neutral Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
Related Funds
Other Market-Neutral 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.