Millstone Evans Group, LLC

Registered adviser

CIK

2041943

Location

BOULDER, CO

Portfolio Value

Small $174,331,729

Diversification

Diversified

Filing Date

Global Rank

#6,939 / 8,818 ▼ 249

Top Industry

Semiconductors 15.6%

Period ended 4 months ago

Filed Aug 11, 2026 · 3mo

7 quarters · since Dec 2024

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 311142

Roster of Oct 1, 2026

Regulatory AUM

$893,343,036

Main clients

Individuals and high net worth (98% of AUM)

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	$893,343,036	Individuals and high net worth (98%)
Apr 2025 to Mar 2026	$777,932,541	Individuals and high net worth (98%)
Apr 2024 to Mar 2025	$700,341,188	Individuals and high net worth (98%)
May 2023 to Mar 2024	$623,148,401	Individuals and high net worth (99%)
Feb 2023 to Apr 2023	$623,148,401	Individuals and high net worth (99%)
Apr 2022 to Jan 2023	$730,621,713	Individuals and high net worth (99%)

2 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

Diversified active

Top 10 weight 44.3%, 32.5 effective positions, active share 51.0% against every 13F filer's combined book; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Low turnover

6.9% over the last four quarters (under 30%)

Horizon

Medium horizon

Value-weighted holding period 6.8 quarters (4 to under 12)

Closest benchmark: every 13F filer's combined book, active share 51.0%; sector active share 18.0% against the combined 13F book's sector weights.

Over time 7 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

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

Top Position

9.2%

+0.5 pts

Top 5

33.3%

+0.8 pts

Top 10

44.3%

+0.4 pts

HHI

308

Diversified+12

Portfolio Trend

7 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Technology	30.6%	$53,328,944	82
Unclassified	28.0%	$48,848,387	263
Financial Services	12.3%	$21,383,436	113
Healthcare	7.1%	$12,393,799	67
Industrials	7.1%	$12,348,416	92
Communication Services	5.1%	$8,952,987	33
Consumer Cyclical	3.9%	$6,801,912	60
Consumer Defensive	3.0%	$5,154,263	43
Energy	1.3%	$2,184,267	31
Utilities	0.7%	$1,166,133	36
Basic Materials	0.6%	$960,627	26
Real Estate	0.5%	$808,558	28

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
—		+5,398	5,508	$279,971
—		+5,240	8,213	$205,571
IWF	iShares Russell 1000 Growth ETF	+4,155	5,540	$687,901
XLY	State Street(R) Consumer Discretionary Select Sector SPDR(R) ETF	+3,082	3,570	$418,689
VUG	VANGUARD GROWTH INDEX FUND	+2,969	3,924	$338,013
PWRD		+2,572	14,734	$1,811,692
BKNG	Booking Holdings Inc.	+1,704	1,775	$316,376
NEOG	Neogen Corp	+1,524	1,720	$15,462
VO	VANGUARD MID-CAP INDEX FUND	+1,383	1,844	$148,571
VGT	VANGUARD INFORMATION TECHNOLOGY INDEX FUND	+1,246	1,424	$170,196
PRMB	Primo Brands Corp	+1,188	2,716	$66,379
NVST	Envista Holdings Corp	+1,061	1,339	$35,282
DFSV	Dimensional US Small Cap Value ETF	+934	2,920	$113,266
CCC	CCC Intelligent Solutions Holdings Inc.	+885	1,172	$6,047
WLY	John Wiley & Sons, Inc.	+801	1,033	$50,110
TAP	Molson Coors Beverage Co	+603	891	$34,713
VEA	Vanguard FTSE Developed Markets ETF	+539	653	$46,526
XMHQ	Victory Portfolios II	+521	1,115	$125,861
POST	Post Holdings, Inc.	+518	760	$67,077
GFL	GFL Environmental Inc.	+465	711	$26,157
DVYE	iShares Trust	+429	1,259	$40,577
NVDA	Nvidia Corp	+320	80,112	$16,029,610
MCD	Mcdonalds Corp	+303	1,835	$496,018
JMUB	JPMorgan Municipal ETF	+298	594	$30,089
—		+289	4,217	$293,081
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
FNDX	Schwab Fundamental U.S. Large Company ETF	−11,207	30,384	$944,942
FNDE	Schwab Fundamental Emerging Markets Equity ETF	−8,669	12,263	$486,595
BAC	Bank Of America Corp	−8,538	4,614	$262,905
JPST	JPMorgan Ultra-Short Income ETF	−5,050	3,412	$172,544
VXUS	Vanguard Total International Stock ETF	−4,771	5,101	$436,084
JAAA	Janus Henderson AAA CLO ETF	−4,526	735	$37,110
CALF	Pacer US Small Cap Cash Cows 100 ETF	−4,170	10,362	$524,420
CMCSA	Comcast Corp	−4,113	8,900	$218,495
AAPL	Apple Inc.	−4,092	52,690	$15,246,378
OAKM	Oakmark U.S. Large Cap ETF	−3,992	14,904	$419,845
VYMI	VANGUARD INTERNATIONAL HIGH DIVIDEND YIELD INDEX FUND	−3,625	15,100	$1,482,820
EMLP	First Trust North American Energy Infrastructure Fund	−3,478	43,478	$1,891,293
MRK	Merck & Co., Inc.	−3,017	10,569	$1,358,116
PEP	Pepsico Inc	−2,737	2,347	$317,783
IWS	iShares Russell Mid-Cap Value ETF	−2,590	19,763	$3,252,989
T	At&T Inc.	−2,398	21,296	$440,827
RDVY	First Trust Rising Dividend Achievers ETF	−2,136	4,823	$390,952
BP	Bp PLC	−1,998	788	$29,116
GE	General Electric Co	−1,848	3,433	$1,283,015
TGT	Target Corp	−1,837	1,579	$206,233
COWZ	Pacer US Cash Cows 100 ETF	−1,790	10,139	$630,645
JEPI	JPMorgan Equity Premium Income ETF	−1,709	841	$47,499
GOOG	Alphabet Inc.	−1,627	11,065	$3,909,596
IMCV	iShares Morningstar Mid-Cap Value ETF	−1,551	36,762	$3,359,311
GLDM	World Gold Trust	−1,523	5,976	$474,613
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
SPHY	State Street(R) SPDR(R) Portfolio High Yield Bond ETF	8,270	$193,848
PNFP	Pinnacle Financial Partners, Inc.	599	$60,427
JEPQ	JPMorgan Nasdaq Equity Premium Income ETF	891	$54,760
DOV	DOVER Corp	205	$45,977
FDXF	FedEx Freight Holding Company, Inc.	216	$32,616
FSUN	Firstsun Capital Bancorp	780	$30,248
LVHI	Franklin International Low Volatility High Dividend Index ETF	734	$29,789
ASML	Asml Holding NV	14	$27,852
RAL	Ralliant Corp	351	$25,844
SPCX	Space Exploration Technologies Corp	128	$21,870
HONA	Honeywell Aerospace Inc.	97	$21,444
AZN	Astrazeneca PLC	107	$20,289
DXYZ	Destiny Tech100 Inc.	689	$17,748
KLAC	Kla Corp	50	$15,085
OUST	Ouster, Inc.	200	$12,504
AVTR	Avantor, Inc.	994	$9,840
SHOP	Shopify Inc.	74	$8,449
VRTX	Vertex Pharmaceuticals Inc	15	$7,450
ENR	Energizer Holdings, Inc.	280	$6,003
SPOT	Spotify Technology S.A.	13	$5,968
LW	Lamb Weston Holdings, Inc.	134	$5,786
CLVT	Clarivate PLC	2,634	$5,689
CDNS	Cadence Design Systems Inc	14	$5,254
ISRG	Intuitive Surgical Inc	13	$5,169
WAY	Waystar Holding Corp.	207	$4,249
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
FLSW	Franklin FTSE Switzerland ETF	3,960	$160,625
SIVR	abrdn Silver ETF Trust	1,214	$86,934
MCHI	iShares MSCI China ETF	1,250	$70,225
VFLO	VictoryShares Free Cash Flow ETF	1,178	$46,507
JSI	Janus Henderson Securitized Income ETF	773	$39,848
OXY	Occidental Petroleum Corp	522	$33,930
—		4,854	$28,639
AEE	Ameren Corp	250	$27,480
OGE	Oge Energy Corp.	333	$15,970
—		421	$8,795
MGM	MGM Resorts International	200	$7,402
NET	Cloudflare, Inc.	15	$3,095
ROST	Ross Stores, Inc.	14	$3,032
SPIR	Spire Global, Inc.	219	$2,755
CGGR	Capital Group Growth ETF	68	$2,732
ENVA	Enova International, Inc.	20	$2,716
—		90	$2,228
—		26	$2,078
SNDR	Schneider National, Inc.	77	$2,029
—		47	$1,976
JHS	John Hancock Income Securities Trust	175	$1,914
DIA	Spdr Dow Jones Industrial Average ETF Trust	4	$1,852
BXP	BXP, Inc.	31	$1,608
CMG	Chipotle Mexican Grill Inc	47	$1,504
CNC	Centene Corp	41	$1,342
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

874 tracked positions · $174,331,729 total · filing declares 877 positions · $184,847,509 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 874 positions by value · page 1 of 18

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
NVDA	Nvidia Corp Technology	Added	80,112	+320	$16,029,610	+15.2%	7	before history	9.19%
AAPL	Apple Inc. Technology	Reduced	52,690	-4,092	$15,246,378	+5.8%	7	before history	8.75%
MSFT	Microsoft Corp Technology	Added	17,326	+10	$6,462,944	+0.8%	7	before history	3.71%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	10,611	-3	$5,309,638	+4.4%	7	before history	3.05%
GOOG	Alphabet Inc. Communication Services	Reduced	11,065	-1,627	$3,909,596	+7.4%	7	before history	2.24%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	11,258	-97	$3,685,081	+10.3%	7	before history	2.11%
IMCV	iShares Morningstar Mid-Cap Value ETF	Reduced	36,762	-1,551	$3,359,311	+3.4%	7	before history	1.93%
IWS	iShares Russell Mid-Cap Value ETF	Reduced	19,763	-2,590	$3,252,989	−0.1%	7	before history	1.87%
ORCL	Oracle Corp Technology	Reduced	20,872	-680	$3,058,791	−3.5%	7	before history	1.75%
GOOGL	Alphabet Inc. Communication Services	Reduced	8,141	-501	$2,909,349	+17.1%	7	before history	1.67%
RJF	Raymond James Financial Inc Financial Services	Reduced	19,055	-284	$2,896,931	+3.5%	7	before history	1.66%
JNJ	Johnson & Johnson Healthcare	Reduced	9,613	-637	$2,441,413	−2.6%	7	before history	1.40%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	9,320	-645	$2,221,328	+7.0%	7	before history	1.27%
LECO	Lincoln Electric Holdings Inc Industrials	Reduced	7,911	-146	$2,100,449	+4.7%	7	before history	1.20%
VOO	VANGUARD 500 INDEX FUND	Reduced	2,865	-13	$1,967,710	+14.4%	7	before history	1.13%
EMLP	First Trust North American Energy Infrastructure Fund	Reduced	43,478	-3,478	$1,891,293	−7.7%	7	before history	1.08%
PWRD		Added	14,734	+2,572	$1,811,692	+52.4%	7	before history	1.04%
IBM	International Business Machines Corp Technology	Reduced	6,407	-160	$1,801,712	+13.2%	7	before history	1.03%
LLY	ELI LILLY & Co Healthcare	Added	1,385	+220	$1,661,210	+55.0%	7	before history	0.95%
MDY	Spdr S&P Midcap 400 ETF Trust	Reduced	2,218	-494	$1,560,008	−6.7%	7	before history	0.89%
VYMI	VANGUARD INTERNATIONAL HIGH DIVIDEND YIELD INDEX FUND	Reduced	15,100	-3,625	$1,482,820	−16.0%	4	$88.43	0.85%
SPY	Spdr S&P 500 ETF Trust	Added	1,975	+106	$1,474,870	+21.3%	7	before history	0.85%
GLW	Corning Inc Technology	Added	5,405	+12	$1,380,599	+88.3%	7	before history	0.79%
MRK	Merck & Co., Inc. Healthcare	Reduced	10,569	-3,017	$1,358,116	−16.9%	7	before history	0.78%
GE	General Electric Co Industrials	Reduced	3,433	-1,848	$1,283,015	−14.4%	7	before history	0.74%
FLEX	Flex Ltd. Technology	Held	7,625	0	$1,235,783	+147.6%	7	before history	0.71%
SBUX	Starbucks Corp Consumer Cyclical	Reduced	11,823	-72	$1,208,192	+13.4%	7	before history	0.69%
CSCO	Cisco Systems, Inc. Technology	Added	10,267	+42	$1,205,961	+52.0%	7	before history	0.69%
SCHD	Schwab U.S. Dividend Equity ETF	Added	37,221	+278	$1,180,277	+4.1%	7	before history	0.68%
TMO	Thermo Fisher Scientific Inc. Healthcare	Reduced	2,267	-735	$1,136,583	−23.0%	7	before history	0.65%
NSC	Norfolk Southern Corp Industrials	Added	3,332	+5	$1,048,213	+9.8%	7	before history	0.60%
DFAC	Dimensional U.S. Core Equity 2 ETF	Reduced	22,510	-933	$998,543	+9.6%	7	before history	0.57%
GEV	GE Vernova Inc. Industrials	Reduced	846	-469	$993,931	−13.4%	7	before history	0.57%
PG	PROCTER & GAMBLE Co Consumer Defensive	Reduced	6,772	-170	$993,046	−1.0%	7	before history	0.57%
IWM	iShares Russell 2000 ETF	Reduced	3,305	-143	$992,987	+16.1%	7	before history	0.57%
FNDX	Schwab Fundamental U.S. Large Company ETF	Reduced	30,384	-11,207	$944,942	−18.4%	3	$26.76	0.54%
VYM	VANGUARD HIGH DIVIDEND YIELD INDEX FUND	Reduced	5,837	-23	$922,421	+6.3%	7	before history	0.53%
WAT	Waters Corp Healthcare	Reduced	2,388	-745	$895,595	−4.0%	7	before history	0.51%
ESGV	VANGUARD ESG U.S. STOCK ETF	Reduced	6,409	-610	$847,526	—	7	before history	0.49%
V	Visa Inc. Financial Services	Added	2,470	+39	$847,432	+15.3%	7	before history	0.49%
MMM	3M Co Industrials	Added	5,187	+7	$839,827	+11.6%	7	before history	0.48%
PNC	Pnc Financial Services Group, Inc. Financial Services	Added	3,218	+28	$792,335	+19.4%	7	before history	0.45%
AXP	American Express Co Financial Services	Held	2,342	0	$792,181	+11.8%	7	before history	0.45%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Added	1,638	+46	$782,259	+45.4%	7	before history	0.45%
AMD	Advanced Micro Devices Inc Technology	Added	1,328	+43	$771,448	+195.1%	7	before history	0.44%
INTC	Intel Corp Technology	Added	5,352	+58	$747,299	+219.9%	7	before history	0.43%
COST	Costco Wholesale Corp Consumer Defensive	Reduced	740	-188	$692,247	−25.1%	7	before history	0.40%
IWF	iShares Russell 1000 Growth ETF	Added	5,540	+4,155	$687,901	+16.5%	7	before history	0.39%
COWZ	Pacer US Cash Cows 100 ETF	Reduced	10,139	-1,790	$630,645	−15.5%	7	before history	0.36%
ABBV	AbbVie Inc. Healthcare	Reduced	2,498	-585	$628,596	−6.3%	7	before history	0.36%

Showing the top 50 of 874 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

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.