Mill Road Capital Management 13F annual report
Mill Road Capital Management is an investment fund managing more than $163 billion ran by Thomas Lynch. There are currently 19 companies in Mr. Lynch’s portfolio. The largest investments include Alta Equipment Inc and Natural Gas Svcs Group Inc, together worth $47.2 billion.
$163 billion Assets Under Management (AUM)
As of 7th August 2024, Mill Road Capital Management’s top holding is 3,562,994 shares of Alta Equipment Inc currently worth over $28.6 billion and making up 17.6% of the portfolio value.
Relative to the number of outstanding shares of Alta Equipment Inc, Mill Road Capital Management owns more than 0.1% of the company.
In addition, the fund holds 921,508 shares of Natural Gas Svcs Group Inc worth $18.5 billion.
The third-largest holding is Superior Inds Intl Inc worth $14.2 billion and the next is Mistras Inc worth $12.7 billion, with 1,527,120 shares owned.
Currently, Mill Road Capital Management's portfolio is worth at least $163 billion. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Mill Road Capital Management
The Mill Road Capital Management office and employees reside in Greenwich, Connecticut. According to the last 13-F report filed with the SEC, Thomas Lynch serves as the Management Committee Director at Mill Road Capital Management.
Recent trades
In the most recent 13F filing, Mill Road Capital Management revealed that it had opened a new position in
Beazer Homes USA and bought 194,595 shares worth $5.35 billion.
This means they effectively own approximately 0.1% of the company.
Beazer Homes USA makes up
13.2%
of the fund's Consumer Discretionary sector allocation and has decreased its share price by 14.0% in the past year.
The investment fund also strengthened its position in Alta Equipment Inc by buying
504,129 additional shares.
This makes their stake in Alta Equipment Inc total 3,562,994 shares worth $28.6 billion.
Alta Equipment Inc dropped 61.3% in the past year.
On the other hand, there are companies that Mill Road Capital Management is getting rid of from its portfolio.
Mill Road Capital Management closed its position in SP Plus Corp on 14th August 2024.
It sold the previously owned 173,750 shares for $9.07 billion.
Thomas Lynch also disclosed a decreased stake in QuinStreet Inc by 0.1%.
This leaves the value of the investment at $9.8 billion and 590,805 shares.
One of the smallest hedge funds
The two most similar investment funds to Mill Road Capital Management are Trivant Custom Portfolio and Alpine Peaks Capital, L.P.. They manage $163 billion and $163 billion respectively.
Thomas Lynch investment strategy
Mill Road Capital Management’s portfolio is diversified across 5 sectors.
Currently, their heaviest sector is Industrials — making up 27.4% of
the total portfolio value.
The fund focuses on investments in the United States as
73.7% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are small-cap stocks.
Stocks with a size of more than $100 million in market cap make up
5% of the total holdings value.
On the other hand, large-cap stocks make up only approximately 0.1% of the portfolio.
The average market cap of the portfolio companies is close to $351 million.
The complete list of Mill Road Capital Management trades based on 13F SEC filings
These positions were updated on August 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Alta Equipment Group Inc |
16.48%
3,562,994
|
$28,646,472,000 | 17.59% |
| Natural Gas Svcs Group Inc |
No change
921,508
|
$18,540,741,000 | 11.39% |
| Superior Inds Intl Inc |
No change
4,380,940
|
$14,238,055,000 | 8.74% |
| Mistras Group Inc |
0.81%
1,527,120
|
$12,659,825,000 | 7.78% |
| Bluelinx Hldgs Inc |
4.02%
129,274
|
$12,034,117,000 | 7.39% |
| Noodles & Company |
No change
6,965,291
|
$11,005,160,000 | 6.76% |
| QuinStreet Inc |
10.59%
590,805
|
$9,801,455,000 | 6.02% |
| Performant Finl Corp |
No change
3,261,675
|
$9,458,858,000 | 5.81% |
| Lifetime Brands, Inc. |
No change
1,065,810
|
$9,155,308,000 | 5.62% |
| SP Plus Corp |
Closed
173,750
|
$9,073,225,000 | |
| Landsea Homes Corp |
68.49%
772,071
|
$7,095,332,000 | 4.36% |
| Legacy Housing Corporation |
53.31%
240,650
|
$5,520,511,000 | 3.39% |
| Truecar Inc |
No change
1,723,800
|
$5,395,494,000 | 3.31% |
| Beazer Homes USA Inc. |
Opened
194,595
|
$5,347,471,000 | 3.28% |
| Concrete Pumping Holdings, Inc. |
15.88%
544,026
|
$3,269,596,000 | 2.01% |
| PlayAGS Inc |
Closed
345,377
|
$3,101,485,000 | |
| Accel Entertainment Inc |
No change
300,482
|
$3,082,945,000 | 1.89% |
| Century Casinos Inc. |
No change
1,095,900
|
$3,035,643,000 | 1.86% |
| Duluth Holdings Inc |
No change
493,553
|
$1,821,211,000 | 1.12% |
| Culp Inc. |
No change
324,669
|
$1,454,517,000 | 0.89% |
| Allient Inc |
No change
50,000
|
$1,263,500,000 | 0.78% |
| Carriage Svcs Inc |
Closed
32,900
|
$889,616,000 | |
| No transactions found | |||
| Showing first 500 out of 22 holdings | |||
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