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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
-11.04%
1 Year Est. Return
+56.95%
3 Year Est. Return
+38.29%
5 Year Est. Return
+31.32%
10 Year Est. Return
–
AUM
$176M
AUM Growth
-$32M
Cap. Flow
+$1.62M
Cap. Flow %
0.92%
Top 10 Hldgs %
76.01%
Holding
27
New
3
Increased
5
Reduced
5
Closed
3

Top Buys

Rank Stock Value
1
LSEA
Landsea Homes
LSEA
+$6.21M
2
PLAB icon
Photronics
PLAB
+$4.97M
3
BZH icon
Beazer Homes USA
BZH
+$3.61M
4
BWMN icon
Bowman Consulting
BWMN
+$2.12M
5
NVRI icon
Enviri
NVRI
+$1.74M

Top Sells

Rank Stock Value
1
NGS icon
Natural Gas Services Group
NGS
+$9.82M
2
BBCP icon
Concrete Pumping Holdings
BBCP
+$4.46M
3
ATRO icon
Astronics
ATRO
+$1.52M
4
QNST icon
QuinStreet
QNST
+$1.25M
5
MG icon
Mistras Group
MG
+$561K

Sector Composition

Rank Sector Weight
1 Industrials 37.96%
2 Consumer Discretionary 25.6%
3 Energy 12.21%
4 Real Estate 9.54%
5 Healthcare 6.63%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ALTG icon
1
Alta Equipment Group
ALTG
$194M
$20.1M 11.42%
4,293,208
+23,700
+0.6% +$148K
MG icon
2
Mistras Group
MG
$477M
$17.6M 10.01%
1,667,681
-56,801
-3% -$561K
LSEA
3
DELISTED
Landsea Homes
LSEA
$16.8M 9.54%
2,618,987
+800,706
+44% +$6.21M
BZH icon
4
Beazer Homes USA
BZH
$888M
$16.6M 9.44%
816,458
+150,400
+23% +$3.61M
NVRI icon
5
Enviri
NVRI
$624M
$13.4M 7.61%
2,016,149
+221,018
+12% +$1.74M
KRP icon
6
Kimbell Royalty Partners
KRP
$1.46B
$12.6M 7.17%
902,198
-10,100
-1% -$153K
PHLT
7
DELISTED
Performant Healthcare Inc
PHLT
$9.65M 5.48%
3,261,675
– –
SUP
8
DELISTED
Superior Industries International
SUP
$9.33M 5.29%
4,380,940
– –
NGS icon
9
Natural Gas Services Group
NGS
$457M
$8.89M 5.04%
404,745
-388,054
-49% -$9.82M
BXC icon
10
BlueLinx
BXC
$430M
$8.84M 5.01%
117,864
– –
NDLS icon
11
Noodles & Co
NDLS
$95.1M
$7.59M 4.31%
870,661
– –
QNST icon
12
QuinStreet
QNST
$927M
$5.42M 3.07%
303,596
-59,804
-16% -$1.25M
LCUT icon
13
Lifetime Brands
LCUT
$192M
$5.25M 2.98%
1,065,810
– –
PLAB icon
14
Photronics
PLAB
$1.65B
$4.64M 2.63%
+223,400
New +$4.97M
ACEL icon
15
Accel Entertainment
ACEL
$1B
$2.83M 1.61%
285,485
– –
TRUE
16
DELISTED
TrueCar
TRUE
$2.72M 1.55%
1,723,800
– –
FWRD icon
17
Forward Air
FWRD
$461M
$2.56M 1.45%
127,650
– –
BBCP icon
18
Concrete Pumping Holdings
BBCP
$491M
$2.34M 1.33%
429,005
-641,400
-60% -$4.46M
ZIMV
19
DELISTED
ZimVie
ZIMV
$2.02M 1.15%
187,430
+86,977
+87% +$1.14M
BWMN icon
20
Bowman Consulting
BWMN
$454M
$1.99M 1.13%
+91,107
New +$2.12M
CNTY icon
21
Century Casinos
CNTY
$32.9M
$1.85M 1.05%
1,095,900
– –
CULP icon
22
Culp Inc
CULP
$45.2M
$1.62M 0.92%
324,669
– –
ALNT icon
23
Allient
ALNT
$1.34B
$1.1M 0.62%
50,000
– –
ARHS icon
24
Arhaus
ARHS
$1.07B
– –
-48,200
Closed -$453K
ATRO icon
25
Astronics
ATRO
$3.21B
– –
-113,965
Closed -$1.52M
1
2

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Mill Road Capital Management's Q1 2025 Portfolio in Review

As of Q1 2025, Mill Road Capital Management held 27 positions worth $176M, down 15% from $208M the previous quarter. Its ten largest holdings account for 76% of the portfolio.

Mill Road Capital Management's Q1 2025 filing shows 3 new, 5 increased, 5 reduced and 3 closed positions. Its largest new stake was Photronics: 223,400 shares worth $4.64M. The largest sale was Natural Gas Services Group, an estimated $9.82M.

By sector, the portfolio is most concentrated in Industrials at 38% of assets, down from 39% a quarter earlier, followed by Consumer Discretionary and Energy.

  • Mill Road Capital Management's largest Q1 2025 buy was Photronics: 223,400 shares worth $4.64M.
  • Mill Road Capital Management added most to Landsea Homes in Q1 2025, an estimated $6.21M increase.
  • Mill Road Capital Management's biggest Q1 2025 reduction was Natural Gas Services Group, cutting an estimated $9.82M.
  • Mill Road Capital Management fully exited Astronics in Q1 2025, selling an estimated $1.52M.
  • Mill Road Capital Management's ten largest holdings make up 76% of its $176M portfolio in Q1 2025.
  • Mill Road Capital Management opened 3 new positions and closed 3 in Q1 2025.
  • Mill Road Capital Management's portfolio value fell 15% quarter-over-quarter to $176M.

Based on Mill Road Capital Management's 13F filing for Q1 2025, filed 15 May 2025.