Latest Mill Road Capital Management LLC Stock Portfolio

$190Million | No. of Holdings #23

Mill Road Capital Management LLC Performance

2026 Q1+4.77%

YTD+4.77%

2025+8.01%

About Mill Road Capital Management LLC and 13F Hedge Fund Stock Holdings

Mill Road Capital Management LLC is a hedge fund based in Greenwich, CT. On 2026-05-15, the fund reported it's updated stock portfolio. In the 13F Holdings report, Mill Road Capital Management LLC reported an equity portfolio of $190.8 Millions as of 31 Mar, 2026. <br><br> The top stock holdings of Mill Road Capital Management LLC are , MG, ALTG. The fund has invested 21.5% of it's portfolio in ENVIRI CORP and 14.5% of portfolio in MISTRAS GROUP INC. <br><br> The fund managers got completely rid off NATURAL GAS SVCS GROUP INC (NGS) and TRUECAR INC (TRUE) stocks. They significantly reduced their stock positions in KIMBELL RTY PARTNERS LP (KRP), RESERVOIR MEDIA INC (RSVR) and NOODLES & CO (NDLS). Mill Road Capital Management LLC opened new stock positions in BOWMAN CONSULTING GROUP LTD (BWMN), ARHAUS INC (ARHS) and PAPA JOHNS INTL INC (PZZA). The fund showed a lot of confidence in some stocks as they added substantially to GROCERY OUTLET HLDG (GO), FORWARD AIR CORP and MATTHEWS INTL CORP (MATW).

Mill Road Capital Management LLC Equity Portfolio Value

Last Reported on: 15 May, 2026

$190Million

as of May 15, 2026

Mill Road Capital Management LLC Annual Return Estimates Vs S&P 500

Our best estimate is that Mill Road Capital Management LLC made a return of 4.77% in the last quarter. In trailing 12 months, it's portfolio return was 32.84%.

Performance
S&P 500

New Buys

Ticker	$ Bought
bowman consulting group ltd	5,981,870
arhaus inc	2,738,440
papa johns intl inc	1,033,880

New stocks bought by Mill Road Capital Management LLC

Additions

Ticker	% Inc.
grocery outlet hldg	139
forward air corp	35.25
matthews intl corp	31.23
mistras group inc	11.83
civeo corp	10.98
alta equipment group inc	1.86
powerfleet inc	0.67
beazer homes usa inc	0.43

Additions to existing portfolio by Mill Road Capital Management LLC

Reductions

Ticker	% Reduced
kimbell rty partners lp	-58.88
reservoir media inc	-45.32
noodles & co	0.00

Mill Road Capital Management LLC reduced stake in above stock

Sold off

Ticker	$ Sold
truecar inc	-2,002,530
natural gas svcs group inc	-3,667,850

Mill Road Capital Management LLC got rid off the above stocks

Sector Distribution

Mill Road Capital Management LLC has about 39.2% of it's holdings in Industrials sector.

Industrials
Others
Consumer Cyclical
Consumer Defensive
Communication Services
Technology
Energy

Sector	%
Industrials	39.2
Others	23.5
Consumer Cyclical	19
Consumer Defensive	8.8
Communication Services	6.1
Technology	1.7
Energy	1.7

Market Cap. Distribution

Mill Road Capital Management LLC has about 0% of it's portfolio invested in the large-cap and mega-cap stocks.

SMALL-CAP
UNALLOCATED
MICRO-CAP
NANO-CAP
MID-CAP

Category	%
SMALL-CAP	54.1
UNALLOCATED	23.5
MICRO-CAP	15.5
NANO-CAP	5.2
MID-CAP	1.7

Stocks belong to which Index?

About 59.5% of the stocks held by Mill Road Capital Management LLC either belong to S&P 500 or RUSSELL 2000 index.

RUSSELL 2000
Others

Index	%
RUSSELL 2000	59.5
Others	40.5

Top 5 Winners (%)		%
NDLS	noodles & co	51.4 %
LCUT	lifetime brands inc	45.3 %
PLAB	photronics	26.3 %
RSVR	reservoir media inc	22.7 %
BLBD	blue bird corp	20.8 %

Top 5 Winners ($)		$
MG	mistras group inc	3.8 M
	enviri corp	3.6 M
ALTG	alta equipment group inc	3.3 M
NDLS	noodles & co	2.5 M
LCUT	lifetime brands inc	1.9 M

Top 5 Losers (%)		%
PWFL	powerfleet inc	-42.0 %
	forward air corp	-30.1 %
GO	grocery outlet hldg	-23.5 %
CULP	culp inc	-23.0 %
QNST	quinstreet inc	-16.4 %

Top 5 Losers ($)		$
GO	grocery outlet hldg	-5.1 M
	forward air corp	-1.6 M
QNST	quinstreet inc	-1.2 M
BXC	bluelinx hldgs inc	-1.0 M
BZH	beazer homes usa inc	-0.9 M

Mill Road Capital Management LLC Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of Mill Road Capital Management LLC

Mill Road Capital Management LLC has 23 stocks in it's portfolio. About 82.8% of the portfolio is in top 10 stocks. GO proved to be the most loss making stock for the portfolio. MG was the most profitable stock for Mill Road Capital Management LLC last quarter.

$190.82MTotal Value

26.00Positions

15 May, 2026Last Reported

Current holdings of Current Stock Holdings of Mill Road Capital Management LLC, last reported on 15 May, 2026. Select a row with a linked ticker to view its historical trend.
Holdingsorted ascending	% Portfolio	Shares Held	$ Value	% Change
ALTG Alta Equipment Group Inc Alta Equipment Group IncALTG Mill Road Capital Management LLC's holding in Alta Equipment Group Inc over time	12.31%	4,373,210	$23.48M 12.31%	increased 1.86 percentadded

ARHS Arhaus Inc Arhaus IncARHS Mill Road Capital Management LLC's holding in Arhaus Inc over time	1.44%	403,900	$2.74M 1.44%	new position

BBCP Concrete Pumping Hldgs Inc Concrete Pumping Hldgs IncBBCP Mill Road Capital Management LLC's holding in Concrete Pumping Hldgs Inc over time	1.61%	430,805	$3.08M 1.61%	unchanged 0 percentunchanged

BLBD Blue Bird Corp Blue Bird CorpBLBD Mill Road Capital Management LLC's holding in Blue Bird Corp over time	0.17%	5,800	$329.4K 0.17%	unchanged 0 percentunchanged

BWMN Bowman Consulting Group Ltd Bowman Consulting Group LtdBWMN Mill Road Capital Management LLC's holding in Bowman Consulting Group Ltd over time	3.13%	210,333	$5.98M 3.13%	new position

BXC Bluelinx Hldgs Inc Bluelinx Hldgs IncBXC Mill Road Capital Management LLC's holding in Bluelinx Hldgs Inc over time	3.83%	134,964	$7.31M 3.83%	unchanged 0 percentunchanged

BZH Beazer Homes Usa Inc Beazer Homes Usa IncBZH Mill Road Capital Management LLC's holding in Beazer Homes Usa Inc over time	8.45%	838,035	$16.12M 8.45%	increased 0.43 percentadded

CNTY Century Casinos Inc Century Casinos IncCNTY Mill Road Capital Management LLC's holding in Century Casinos Inc over time	0.8%	1,095,900	$1.52M 0.8%	unchanged 0 percentunchanged

CULP Culp Inc Culp IncCULP Mill Road Capital Management LLC's holding in Culp Inc over time	0.47%	324,669	$889.6K 0.47%	unchanged 0 percentunchanged

CVEO Civeo Corp Civeo CorpCVEO Mill Road Capital Management LLC's holding in Civeo Corp over time	1.41%	101,738	$2.69M 1.41%	increased 10.98 percentadded

GO Grocery Outlet Hldg Grocery Outlet HldgGO Mill Road Capital Management LLC's holding in Grocery Outlet Hldg over time	8.76%	2,370,900	$16.71M 8.76%	increased 139.12 percentadded

KRP Kimbell Rty Partners Lp Kimbell Rty Partners LpKRP Mill Road Capital Management LLC's holding in Kimbell Rty Partners Lp over time	1.68%	221,295	$3.20M 1.68%	decreased 58.88 percentreduced

LCUT Lifetime Brands Inc Lifetime Brands IncLCUT Mill Road Capital Management LLC's holding in Lifetime Brands Inc over time	3.21%	1,065,810	$6.12M 3.21%	unchanged 0 percentunchanged

MATW Matthews Intl Corp Matthews Intl CorpMATW Mill Road Capital Management LLC's holding in Matthews Intl Corp over time	2.34%	172,715	$4.46M 2.34%	increased 31.23 percentadded

MG Mistras Group Inc Mistras Group IncMG Mill Road Capital Management LLC's holding in Mistras Group Inc over time	14.49%	1,870,580	$27.65M 14.49%	increased 11.83 percentadded

NDLS Noodles & Co Noodles & CoNDLS Mill Road Capital Management LLC's holding in Noodles & Co over time	3.9%	870,660	$7.44M 3.9%	unchanged 0 percentreduced

NGS Natural Gas Svcs Group Inc Natural Gas Svcs Group IncNGS Mill Road Capital Management LLC's holding in Natural Gas Svcs Group Inc over time	0%	0.00	$0.00 0%	decreased 100 percentsold off

NOTV Inotiv Inc Inotiv IncNOTV Mill Road Capital Management LLC's holding in Inotiv Inc over time	0.12%	1,000,000	$234.6K 0.12%	unchanged 0 percentunchanged

PLAB Photronics PhotronicsPLAB Mill Road Capital Management LLC's holding in Photronics over time	1.7%	80,200	$3.24M 1.7%	unchanged 0 percentunchanged

PWFL Powerfleet Inc Powerfleet IncPWFL Mill Road Capital Management LLC's holding in Powerfleet Inc over time	0.02%	15,100	$46.5K 0.02%	increased 0.67 percentadded