Schedule 13G/A: Brave Warrior reports 3.5% stake in Millrose Properties

Rhea-AI Filing Summary

Brave Warrior Advisors, LLC reports beneficial ownership of 5,375,592 shares of Millrose Properties, Inc. Class A common stock, representing 3.5% of the class. The filing is an amendment to a Schedule 13G and confirms that Brave Warrior holds the shares with sole voting and dispositive power and states the securities were acquired and are held in the ordinary course of business. The filing also affirms the position is not intended to change or influence control of the issuer and that no group affiliation or parent/ subsidiary acquisition is reported.

Positive

• 5,375,592 shares disclosed, providing transparency on position size
• Filing confirms holdings are in the ordinary course of business, signaling a passive intent

Negative

• None.

Insights

Corporate Governance Analyst

Brave Warrior reports a 3.5% passive stake in MRP.

The Schedule 13G/A shows 5,375,592 shares owned with sole voting and sole dispositive power, indicating direct control over voting of those shares by the adviser.

The certifying language states holdings are in the ordinary course of business and not held to change issuer control, which is consistent with a passive investor filing under Rule 13d-1(b).

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Millrose Properties, Inc.

(Name of Issuer)

Class A common stock, par value $0.01 per share

(Title of Class of Securities)

601137102

(CUSIP Number)

09/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 601137102

1

Names of Reporting Persons

Brave Warrior Advisors, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 5,375,592.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 5,375,592.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,375,592.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.5 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Millrose Properties, Inc.
(b)	Address of issuer's principal executive offices: 600 Brickell Avenue, Suite 1400, Miami, FL 33131
Item 2.
(a)	Name of person filing: Brave Warrior Advisors, LLC
(b)	Address or principal business office or, if none, residence: 12 East 49th Street, New York, NY 10017
(c)	Citizenship: Delaware, United States
(d)	Title of class of securities: Class A common stock, par value $0.01 per share
(e)	CUSIP No.: 601137102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 5,375,592
(b)	Percent of class: 3.5%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 5,375,592
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 5,375,592
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Brave Warrior Advisors, LLC

Signature:	Donna Martel-Downing
Name/Title:	Donna Martel-Downing | Chief Compliance Officer
Date:	10/03/2025

FAQ

What stake does Brave Warrior Advisors hold in Millrose Properties (MRP)?

Brave Warrior Advisors holds 5,375,592 shares, equal to 3.5% of MRP Class A common stock.

Does Brave Warrior have voting control over these shares for MRP?

Yes. The filing reports sole voting power and sole dispositive power over all 5,375,592 shares.

Is Brave Warrior seeking to influence control of Millrose Properties (MRP)?

No. The certification states the securities are not held for the purpose of changing or influencing control.

Under what rule was the Schedule 13G/A filed for MRP?

The filing is made as an amendment to a Schedule 13G; the reported classification is consistent with Rule 13d-1(b) passive investor reporting.

When was the Schedule 13G/A signed?

The filing is signed by Donna Martel-Downing, Chief Compliance Officer, dated 10/03/2025.