Mill Road Capital Management LLC

Registered adviser

CIK

1512275

Location

Greenwich, CT

Portfolio Value

Small $202,530,912

Diversification

Diversified

Reports for

Mill Road Capital III GP LLLC

Filing Date

Global Rank

#6,493 / 8,818 ▼ 269

Top Industry

Industrial Distribution 18.1%

Period ended 4 months ago

Filed Aug 14, 2026 · 2mo

23 quarters · since Dec 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 157095

Roster of Oct 1, 2026

Regulatory AUM

$753,816,698

Main clients

Pooled investment vehicles (100% of AUM)

Private funds

5 funds · Hedge funds

Focus by fund count, roster of Oct 1, 2026

$753,816,698 gross assets

Private funds on Schedule D 7.B.(1)

As filed Mar 29, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$827,442,739 gross assets in 5 funds Hedge funds $762,513,111 (3) Other private funds $64,929,628 (2)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$753,816,698	Pooled investment vehicles (100%)
Apr 2025 to Mar 2026	$771,480,027	Pooled investment vehicles (100%)
Apr 2024 to Mar 2025	$827,442,739	Pooled investment vehicles (100%)
May 2023 to Mar 2024	$834,922,672	Pooled investment vehicles (100%)
Apr 2023	$834,922,672	Pooled investment vehicles (100%)
Apr 2022 to Mar 2023	$1,046,968,272	Pooled investment vehicles (100%)

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 85.2% of the book (60%+)

Turnover

Low turnover

24.3% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 14.5 quarters (12+)

Closest benchmark: the Russell 2000 as of 2026-06-30, active share 99.7%; sector active share 73.1% against the combined 13F book's sector weights.

Over time 23 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

22 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

16.6%

−4.9 pts

Top 5

61.9%

−3.7 pts

Top 10

85.2%

+2.3 pts

HHI

953

Diversified−113

Portfolio Trend

23 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Industrials	54.5%	$110,470,555	9
Consumer Cyclical	27.6%	$55,891,218	8
Consumer Defensive	12.1%	$24,489,892	1
Communication Services	4.2%	$8,490,272	2
Energy	1.5%	$3,131,142	1
Technology	0.0%	$57,833	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

7 positions

Ticker	Company	Δ Shares	Shares	Value
BWMN	Bowman Consulting Group Ltd.	+123,539	333,872	$9,749,062
ARHS	Arhaus, Inc.	+123,000	526,900	$4,436,498
GO	Grocery Outlet Holding Corp.	+83,000	2,453,897	$24,489,892
FWRD	Forward Air Corp	+65,500	292,250	$3,948,297
MG	Mistras Group, Inc.	+58,929	1,929,509	$33,708,522
MATW	Matthews International Corp	+31,900	204,615	$5,508,235
BZH	Beazer Homes USA Inc	+3,200	841,235	$23,596,641
No positions match the current search.

Trimmed

Positions the filer reduced

6 positions

Ticker	Company	Δ Shares	Shares	Value
NVRI	Enviri Corp	−1,395,479	695,264	$15,261,044
RSVR	Reservoir Media, Inc.	−470,800	89,858	$888,695
LCUT	Lifetime Brands, Inc	−61,164	1,004,646	$8,569,630
PZZA	Papa Johns International Inc	−15,500	16,400	$603,028
CVEO	Civeo Corp	−8,600	93,138	$3,259,830
KRP	Kimbell Royalty Partners, LP	−5,800	215,495	$3,131,142
No positions match the current search.

New Positions

Positions the filer opened this quarter

No qualifying positions this quarter.

Sold Out

Positions the filer fully exited

1 positions

Ticker	Company	Shares	Value	Open
PLAB	Photronics Inc	80,200	$3,240,882
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

22 tracked positions · $202,530,912 total · filing declares 23 positions · $202,530,920 · as of Jun 30, 2026

All sectors Communication Services Consumer Cyclical Consumer Defensive Energy Industrials Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
MG	Mistras Group, Inc. Industrials	Added	1,929,509	+58,929	$33,708,522	+21.9%	23	before history	16.64%
ALTG	Alta Equipment Group Inc. Industrials	Held	4,373,208	0	$28,294,655	+20.5%	22	$11.07	13.97%
GO	Grocery Outlet Holding Corp. Consumer Defensive	Added	2,453,897	+83,000	$24,489,892	+46.5%	5	$10.29	12.09%
BZH	Beazer Homes USA Inc Consumer Cyclical	Added	841,235	+3,200	$23,596,641	+46.3%	9	$29.16	11.65%
NVRI	Enviri Corp Industrials	Reduced	695,264	-1,395,479	$15,261,044	−62.8%	8	$9.31	7.54%
NDLS	NOODLES & Co Consumer Cyclical	Held	870,660	0	$13,016,366	+74.9%	23	before history	6.43%
BWMN	Bowman Consulting Group Ltd. Industrials	Added	333,872	+123,539	$9,749,062	+63.0%	2	$32.18	4.81%
LCUT	Lifetime Brands, Inc Consumer Cyclical	Reduced	1,004,646	-61,164	$8,569,630	+40.1%	23	before history	4.23%
BXC	BlueLinx Holdings Inc. Industrials	Held	134,964	0	$8,351,572	+14.2%	12	$86.95	4.12%
QNST	Quinstreet, Inc Communication Services	Held	518,879	0	$7,601,577	+22.0%	23	before history	3.75%
MATW	Matthews International Corp Industrials	Added	204,615	+31,900	$5,508,235	+23.5%	3	$25.25	2.72%
BBCP	Concrete Pumping Holdings, Inc. Industrials	Held	430,805	0	$5,191,200	+68.8%	22	$6.69	2.56%
ARHS	Arhaus, Inc. Consumer Cyclical	Added	526,900	+123,000	$4,436,498	+62.0%	2	$8.58	2.19%
FWRD	Forward Air Corp Industrials	Added	292,250	+65,500	$3,948,297	+4.2%	4	$23.91	1.95%
CVEO	Civeo Corp Consumer Cyclical	Reduced	93,138	-8,600	$3,259,830	+21.1%	4	$22.82	1.61%
KRP	Kimbell Royalty Partners, LP Energy	Reduced	215,495	-5,800	$3,131,142	−2.2%	22	$13.35	1.55%
CNTY	Century Casinos Inc Consumer Cyclical	Held	1,095,900	0	$1,402,752	−7.9%	22	$8.64	0.69%
CULP	Culp Inc Consumer Cyclical	Held	324,669	0	$1,006,473	+13.1%	23	before history	0.50%
RSVR	Reservoir Media, Inc. Communication Services	Reduced	89,858	-470,800	$888,695	−83.8%	5	$7.59	0.44%
PZZA	Papa Johns International Inc Consumer Cyclical	Reduced	16,400	-15,500	$603,028	−41.7%	2	$34.71	0.30%
BLBD	Blue Bird Corp Industrials	Held	5,800	0	$457,968	+39.0%	5	$38.08	0.23%
AIOT	Powerfleet, Inc. Technology	Held	15,100	0	$57,833	+24.4%	5	$4.94	0.03%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.