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MRCM

Mill Road Capital Management Portfolio holdings

AUM $203M
1-Year Est. Return 79.43%
This Fund
S&P 500
This Quarter Est. Return
+28.26%
1 Year Est. Return
+79.43%
3 Year Est. Return
+85.14%
5 Year Est. Return
+51.3%
10 Year Est. Return
–
AUM
$203M
AUM Growth
+$11.7M
Cap. Flow
-$28.8M
Cap. Flow %
-14.24%
Top 10 Hldgs %
85.24%
Holding
23
New
–
Increased
7
Reduced
6
Closed
1

Top Buys

Rank Stock Value
1
BWMN icon
Bowman Consulting
BWMN
+$3.89M
2
MG icon
Mistras Group
MG
+$1.05M
3
FWRD icon
Forward Air
FWRD
+$976K
4
MATW icon
Matthews International
MATW
+$857K
5
ARHS icon
Arhaus
ARHS
+$854K

Top Sells

Rank Stock Value
1
NVRI icon
Enviri
NVRI
+$27.9M
2
RSVR
Reservoir Media
RSVR
+$4.76M
3
PLAB icon
Photronics
PLAB
+$3.24M
4
PZZA icon
Papa John's
PZZA
+$535K
5
LCUT icon
Lifetime Brands
LCUT
+$473K

Sector Composition

Rank Sector Weight
1 Industrials 54.55%
2 Consumer Discretionary 27.6%
3 Consumer Staples 12.09%
4 Communication Services 4.19%
5 Energy 1.55%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MG icon
1
Mistras Group
MG
$618M
$33.7M 16.64%
1,929,509
+58,929
+3% +$1.05M
ALTG icon
2
Alta Equipment Group
ALTG
$199M
$28.3M 13.97%
4,373,208
– –
GO icon
3
Grocery Outlet
GO
$1.17B
$24.5M 12.09%
2,453,897
+83,000
+4% +$683K
BZH icon
4
Beazer Homes USA
BZH
$887M
$23.6M 11.65%
841,235
+3,200
+0.4% +$75.7K
NVRI icon
5
Enviri
NVRI
$652M
$15.3M 7.54%
695,264
-1,395,479
-67% -$27.9M
NDLS icon
6
Noodles & Co
NDLS
$86.7M
$13M 6.43%
870,660
– –
BWMN icon
7
Bowman Consulting
BWMN
$738M
$9.75M 4.81%
333,872
+123,539
+59% +$3.89M
LCUT icon
8
Lifetime Brands
LCUT
$206M
$8.57M 4.23%
1,004,646
-61,164
-6% -$473K
BXC icon
9
BlueLinx
BXC
$640M
$8.35M 4.12%
134,964
– –
QNST icon
10
QuinStreet
QNST
$1.03B
$7.6M 3.75%
518,879
– –
MATW icon
11
Matthews International
MATW
$638M
$5.51M 2.72%
204,615
+31,900
+18% +$857K
BBCP icon
12
Concrete Pumping Holdings
BBCP
$522M
$5.19M 2.56%
430,805
– –
ARHS icon
13
Arhaus
ARHS
$1.2B
$4.44M 2.19%
526,900
+123,000
+30% +$854K
FWRD icon
14
Forward Air
FWRD
$584M
$3.95M 1.95%
292,250
+65,500
+29% +$976K
CVEO icon
15
Civeo
CVEO
$351M
$3.26M 1.61%
93,138
-8,600
-8% -$277K
KRP icon
16
Kimbell Royalty Partners
KRP
$1.53B
$3.13M 1.55%
215,495
-5,800
-3% -$86.4K
CNTY icon
17
Century Casinos
CNTY
$33.8M
$1.4M 0.69%
1,095,900
– –
CULP icon
18
Culp Inc
CULP
$44.1M
$1.01M 0.5%
324,669
– –
RSVR
19
Reservoir Media
RSVR
$604M
$889K 0.44%
89,858
-470,800
-84% -$4.76M
PZZA icon
20
Papa John's
PZZA
$747M
$603K 0.3%
16,400
-15,500
-49% -$535K
BLBD icon
21
Blue Bird Corp
BLBD
$2.03B
$458K 0.23%
5,800
– –
AIOT
22
PowerFleet Inc
AIOT
$396M
$57.8K 0.03%
15,100
– –
PLAB icon
23
Photronics
PLAB
$1.73B
– –
-80,200
Closed -$3.24M

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Mill Road Capital Management's Q2 2026 Portfolio in Review

As of Q2 2026, Mill Road Capital Management held 23 positions worth $203M, up 6.1% from $191M the previous quarter. Its ten largest holdings account for 85% of the portfolio.

Mill Road Capital Management withdrew a net $28.8M in Q2 2026, closing 1 position and reducing 6 holdings. Its most notable exit was Photronics, an estimated $3.24M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 55% of assets, down from 61% a quarter earlier, followed by Consumer Discretionary and Consumer Staples.

Against the trend, Mill Road Capital Management added an estimated $3.89M to Bowman Consulting.

  • Mill Road Capital Management added most to Bowman Consulting in Q2 2026, an estimated $3.89M increase.
  • Mill Road Capital Management's biggest Q2 2026 reduction was Enviri, cutting an estimated $27.9M.
  • Mill Road Capital Management fully exited Photronics in Q2 2026, selling an estimated $3.24M.
  • Mill Road Capital Management's ten largest holdings make up 85% of its $203M portfolio in Q2 2026.
  • Mill Road Capital Management opened 0 new positions and closed 1 in Q2 2026.
  • Mill Road Capital Management's portfolio value rose 6.1% quarter-over-quarter to $203M.

Based on Mill Road Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.