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MRCM

Mill Road Capital Management Portfolio holdings

AUM $191M
1-Year Est. Return 56.95%
This Fund
S&P 500
This Quarter Est. Return
+19.4%
1 Year Est. Return
+56.95%
3 Year Est. Return
+38.29%
5 Year Est. Return
+31.32%
10 Year Est. Return
–
AUM
$183M
AUM Growth
-$26.4M
Cap. Flow
-$52.5M
Cap. Flow %
-28.66%
Top 10 Hldgs %
78.74%
Holding
27
New
1
Increased
6
Reduced
5
Closed
3

Top Buys

Rank Stock Value
1
ALTG icon
Alta Equipment Group
ALTG
+$4.33M
2
STR
Sitio Royalties
STR
+$4.33M
3
DLTH icon
Duluth Holdings
DLTH
+$2.47M
4
NGS icon
Natural Gas Services Group
NGS
+$1.27M
5
NDLS icon
Noodles & Co
NDLS
+$718K

Top Sells

Rank Stock Value
1
BIG
Big Lots, Inc.
BIG
+$20.2M
2
KRP icon
Kimbell Royalty Partners
KRP
+$9.04M
3
STON
StoneMor Inc.
STON
+$8.87M
4
MNRL
Brigham Minerals, Inc. Class A Common Stock
MNRL
+$4.99M
5
MEC icon
Mayville Engineering Co
MEC
+$1.5M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 45.51%
2 Industrials 20.3%
3 Energy 19.73%
4 Healthcare 7.34%
5 Communication Services 3.56%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NDLS icon
1
Noodles & Co
NDLS
$95.1M
$31.4M 17.16%
715,140
+16,378
+2% +$718K
KRP icon
2
Kimbell Royalty Partners
KRP
$1.46B
$22.4M 12.23%
1,339,864
-514,400
-28% -$9.04M
SUP
3
DELISTED
Superior Industries International
SUP
$17.2M 9.39%
4,074,034
– –
ALTG icon
4
Alta Equipment Group
ALTG
$194M
$16.6M 9.06%
1,256,869
+359,822
+40% +$4.33M
SP
5
DELISTED
SP Plus Corporation
SP
$12.4M 6.76%
356,450
– –
PHLT
6
DELISTED
Performant Healthcare Inc
PHLT
$11.8M 6.43%
3,261,675
– –
NGS icon
7
Natural Gas Services Group
NGS
$457M
$9.42M 5.15%
822,008
+116,149
+16% +$1.27M
LCUT icon
8
Lifetime Brands
LCUT
$192M
$9.17M 5.01%
1,208,503
– –
MG icon
9
Mistras Group
MG
$477M
$7.3M 3.99%
1,480,122
– –
QNST icon
10
QuinStreet
QNST
$927M
$6.51M 3.56%
453,847
-50,000
-10% -$635K
DLTH icon
11
Duluth Holdings
DLTH
$152M
$5.93M 3.24%
959,735
+329,330
+52% +$2.47M
FRGI
12
DELISTED
Fiesta Restaurant Group, Inc.
FRGI
$5.34M 2.92%
726,176
– –
CSV icon
13
Carriage Services
CSV
$647M
$4.7M 2.57%
170,666
+1,100
+0.6% +$29.9K
CNTY icon
14
Century Casinos
CNTY
$32.9M
$4.35M 2.38%
619,387
– –
STR
15
DELISTED
Sitio Royalties
STR
$4.31M 2.35%
+149,374
New +$4.33M
CULP icon
16
Culp Inc
CULP
$45.2M
$3.19M 1.74%
695,469
– –
BIG
17
DELISTED
Big Lots, Inc.
BIG
$2.31M 1.26%
157,351
-1,175,500
-88% -$20.2M
BIG
18
PUT
DELISTED
Big Lots, Inc.
BIG
$2.31M 1.26%
157,300
-1,175,500
-88% -$20.2M
VLGEA icon
19
Village Super Market
VLGEA
$657M
$1.91M 1.04%
111,810
– –
AGS
20
DELISTED
PlayAGS
AGS
$1.22M 0.67%
239,470
– –
PETQ
21
DELISTED
PetIQ, Inc. Class A Common Stock
PETQ
$1.04M 0.57%
112,600
– –
BBCP icon
22
Concrete Pumping Holdings
BBCP
$491M
$900K 0.49%
153,884
– –
VIRC icon
23
Virco
VIRC
$94.8M
$782K 0.43%
172,933
-28,234
-14% -$119K
FONR
24
DELISTED
Fonar
FONR
$616K 0.34%
36,796
+650
+2% +$10.9K
MEC icon
25
Mayville Engineering Co
MEC
$648M
– –
-229,582
Closed -$1.5M
1
2

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Mill Road Capital Management's Q4 2022 Portfolio in Review

As of Q4 2022, Mill Road Capital Management held 27 positions worth $183M, down 13% from $209M the previous quarter. Its ten largest holdings account for 79% of the portfolio.

Mill Road Capital Management withdrew a net $52.5M in Q4 2022, closing 3 positions and reducing 5 holdings. Its most notable exit was StoneMor Inc., an estimated $8.87M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 46% of assets, up from 34% a quarter earlier, followed by Industrials and Energy.

Against the trend, Mill Road Capital Management opened a new position in Sitio Royalties worth $4.31M.

  • Mill Road Capital Management's largest Q4 2022 buy was Sitio Royalties: 149,374 shares worth $4.31M.
  • Mill Road Capital Management added most to Alta Equipment Group in Q4 2022, an estimated $4.33M increase.
  • Mill Road Capital Management's biggest Q4 2022 reduction was Big Lots, Inc., cutting an estimated $20.2M.
  • Mill Road Capital Management fully exited StoneMor Inc. in Q4 2022, selling an estimated $8.87M.
  • Mill Road Capital Management's ten largest holdings make up 79% of its $183M portfolio in Q4 2022.
  • Mill Road Capital Management opened 1 new position and closed 3 in Q4 2022.
  • Mill Road Capital Management's portfolio value fell 13% quarter-over-quarter to $183M.

Based on Mill Road Capital Management's 13F filing for Q4 2022, filed 14 Feb 2023.