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Mill Road Capital Management LLC

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13F filer, CIK 1512275, Greenwich, CT

Mill Road Capital Management LLC reported $156,155,476 across 24 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14. Its ten largest share positions make up 83.73% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000950123-25-008240

Period
2025-06-30
Reported value
$156M
Holdings
24
Top 10 weight
83.73%
New
6
Sold out
6

Part of the filer group Mill Road Capital Management LLC

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
PLABadded+101,220$1.91M
BXCadded+10,000$744K
NVRIadded+58,700$510K
TTAMnew+38,100$475K
QNSTadded+26,400$425K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
LANDSEA HOMES CORPexited-2,618,987-$16.8M
SUPERIOR INDS INTL INCexited-4,380,940-$9.33M
KRPreduced-226,003-$3.16M
ACELexited-285,485-$2.83M
FORWARD AIR CORPexited-127,650-$2.56M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0000950123-25-008240, largest first. % of portfolio is the value over $156,155,476, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ALTGALTA EQUIPMENT GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,213,208 shares; 2024Q4: 4,269,508 shares; 2025Q1: 4,293,208 shares; 2025Q2: 4,293,208 shares 4,293,208$27.1M17.38%0Timeline
BZHBEAZER HOMES USA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 368,069 shares; 2024Q4: 666,058 shares; 2025Q1: 816,458 shares; 2025Q2: 816,458 shares 816,458$18.3M11.7%0Timeline
NVRIENVIRI CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 983,272 shares; 2024Q4: 1,795,131 shares; 2025Q1: 2,016,149 shares; 2025Q2: 2,074,849 shares 2,074,849$18M11.53%+58,700Timeline
MGMISTRAS GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,599,145 shares; 2024Q4: 1,724,482 shares; 2025Q1: 1,667,681 shares; 2025Q2: 1,667,681 shares 1,667,681$13.4M8.55%0Timeline
PERFORMANT HEALTHCARE INCPERFORMANT HEALTHCARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,261,675 shares; 2024Q4: 3,261,675 shares; 2025Q1: 3,261,675 shares; 2025Q2: 3,261,675 shares 3,261,675$13M8.35%0
NGSNATURAL GAS SVCS GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 921,508 shares; 2024Q4: 792,799 shares; 2025Q1: 404,745 shares; 2025Q2: 404,745 shares 404,745$10.4M6.69%0Timeline
BXCBLUELINX HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 142,297 shares; 2024Q4: 117,864 shares; 2025Q1: 117,864 shares; 2025Q2: 127,864 shares 127,864$9.51M6.09%+10,000Timeline
KRPKIMBELL RTY PARTNERS LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,246,477 shares; 2024Q4: 912,298 shares; 2025Q1: 902,198 shares; 2025Q2: 676,195 shares 676,195$9.44M6.05%-226,003Timeline
PLABPHOTRONICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 223,400 shares; 2025Q2: 324,620 shares 324,620$6.11M3.91%+101,220Timeline
LCUTLIFETIME BRANDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,065,810 shares; 2024Q4: 1,065,810 shares; 2025Q1: 1,065,810 shares; 2025Q2: 1,065,810 shares 1,065,810$5.44M3.48%0Timeline
QNSTQUINSTREET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 499,505 shares; 2024Q4: 363,400 shares; 2025Q1: 303,596 shares; 2025Q2: 329,996 shares 329,996$5.31M3.4%+26,400Timeline
NOODLES & CONOODLES & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,965,291 shares; 2024Q4: 6,965,291 shares; 2025Q1: 6,965,291 shares; 2025Q2: 6,965,291 shares 6,965,291$4.96M3.18%0
TRUETRUECAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,723,800 shares; 2024Q4: 1,723,800 shares; 2025Q1: 1,723,800 shares; 2025Q2: 1,723,800 shares 1,723,800$3.28M2.1%0Timeline
BBCPCONCRETE PUMPING HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,070,405 shares; 2024Q4: 1,070,405 shares; 2025Q1: 429,005 shares; 2025Q2: 429,005 shares 429,005$2.64M1.69%0Timeline
BWMNBOWMAN CONSULTING GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 91,107 shares; 2025Q2: 88,007 shares 88,007$2.53M1.62%-3,100Timeline
CNTYCENTURY CASINOS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,095,900 shares; 2024Q4: 1,095,900 shares; 2025Q1: 1,095,900 shares; 2025Q2: 1,095,900 shares 1,095,900$2.32M1.48%0Timeline
ZIMVIE INCZIMVIE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 100,453 shares; 2025Q1: 187,430 shares; 2025Q2: 187,430 shares 187,430$1.75M1.12%0
CULPCULP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 324,669 shares; 2024Q4: 324,669 shares; 2025Q1: 324,669 shares; 2025Q2: 324,669 shares 324,669$1.28M0.82%0Timeline
TTAMTITAN AMER SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 38,100 shares 38,100$475K0.3%newTimeline
BLBDBLUE BIRD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 5,800 shares 5,800$250K0.16%newTimeline
RSVRRESERVOIR MEDIA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 23,099 shares 23,099$177K0.11%newTimeline
GOGROCERY OUTLET HLDG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 10,000 shares 10,000$124K0.08%newTimeline
AIOTPOWERFLEET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 15,000 shares 15,000$64.7K0.04%newTimeline

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
INOTIV INCINOTIV INC Convertible Bondprincipal1,000,000$239Knew

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
LANDSEA HOMES CORPLANDSEA HOMES CORP2,618,987$16.8Mshares
SUPERIOR INDS INTL INCSUPERIOR INDS INTL INC4,380,940$9.33Mshares
ACELACCEL ENTERTAINMENT INC285,485$2.83Mshares
FORWARD AIR CORPFORWARD AIR CORP127,650$2.56Mshares
ALNTALLIENT INC50,000$1.1Mshares
INOTIV INCINOTIV INC1,000,000$333Kshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0000950123-25-008240 base2025-08-14acceptance time not in the bulk data set