Brave Warrior Advisors (MRP) Reports 5.58% Passive Ownership in Millrose

Rhea-AI Filing Summary

Brave Warrior Advisors, LLC disclosed a significant passive stake in Millrose Properties, Inc. Class A common stock. The investment adviser reports beneficial ownership of 8,600,224 shares, representing 5.58% of the Class A common stock outstanding as of the event date. Brave Warrior has sole power to vote and dispose of all reported shares, with no shared voting or dispositive power. The firm certifies the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Millrose Properties.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Millrose Properties, Inc.

(Name of Issuer)

Class A common stock, par value $0.01 per share

(Title of Class of Securities)

601137102

(CUSIP Number)

12/31/2025

(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 8,600,224.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 8,600,224.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

8,600,224.00

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)

5.58 %

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: 8,600,224
(b)	Percent of class: 5.58%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 8,600,224
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 8,600,224
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
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:	01/08/2026

FAQ

Who is the institutional investor reporting a stake in MRP?

Brave Warrior Advisors, LLC, an investment adviser organized in Delaware, is the reporting person disclosing ownership in Millrose Properties, Inc. Class A common stock.

How many Millrose Properties (MRP) shares does Brave Warrior Advisors own?

Brave Warrior Advisors reports beneficial ownership of 8,600,224 shares of Millrose Properties, Inc. Class A common stock.

What percentage of Millrose Properties (MRP) does Brave Warrior Advisors own?

The filing states that Brave Warrior Advisors beneficially owns 5.58% of the outstanding Class A common stock of Millrose Properties, Inc.

Does Brave Warrior Advisors have voting and dispositive power over its MRP shares?

Yes. The investor reports sole power to vote or direct the vote and to dispose or direct the disposition of all 8,600,224 shares, with no shared voting or dispositive power.

Is Brave Warrior Advisors’ stake in Millrose Properties (MRP) passive or for control purposes?

The certification states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Millrose Properties, Inc.

What type of reporting person is Brave Warrior Advisors in this MRP filing?

Brave Warrior Advisors is classified as an investment adviser ("IA") under the Schedule 13G reporting categories.