MA
Millrace Asset Group, Inc. Historical SEC 13F Holdings & Archive (Q3 2024)
Millrace Asset Group, Inc.CIK: 0001604831
Diversified strategySector-focusedQuality / disciplined sizing
Total reported value
$98.4M
Reporting period: 2024-09-30 · Number of holdings: 70
Millrace Asset Group, Inc. disclosed 70 holdings in its latest 13F filing for the period ending 2024-09-30, with total reported value of $98.4M and a quarterly turnover rate of 0.0%.
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Personality snowflake
- Concentration
- 7.1
- Portfolio Stability
- 0
- Momentum
- 50
- Sector conviction
- 90.46
- Diversification
- 100
- Sizing Uniformity
- 95.04
Millrace Asset Group, Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.018 — mathematically equivalent to about 56 equally-sized positions, close to its 70 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.50), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 36% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy KRE
Sold out ULTA
New buy SMTC
Sold out URBN
New buy RSI
Sold out MXL
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | XBI | Ss Spdr S&p Biotech ETF | ETF-Tech | 3.30% | — | -6.18% | |
| 2 | HURN | Huron Consulting Group Inc | Stock-Other | 2.73% | — | -9.37% | |
| 3 | KRE | Ss Spdr S&p Regional Bank | ETF-Other | 2.73% | +2.73% | NEW | |
| 4 | RPAY | Repay Holdings CORP | Stock-Other | 2.68% | +1.63% | +216.69% | |
| 5 | FOUR | Shift4 Payments Inc-class A | Stock-Tech | 2.44% | — | +1.15% | |
| 6 | AVPT | Avepoint Inc | Stock-Other | 2.44% | — | -12.32% | |
| 7 | SMTC | Semtech CORP | Stock-Tech | 2.43% | +2.43% | NEW | |
| 8 | ZETA | Zeta Global Holdings Corp-a | Stock-Tech | 2.37% | — | -51.81% | |
| 9 | MGNI | Magnite Inc | Stock-Other | 2.33% | — | -22.63% | |
| 10 | RSI | Rush Street Interactive Inc | Stock-Other | 2.17% | +2.17% | NEW | |
| 11 | OSIS | Osi Systems Inc | Stock-Tech | 2.14% | — | -15.06% | |
| 12 | ICUI | Icu Medical Inc | Stock-Other | 2.10% | — | -17.73% | |
| 13 | CHRW | C.h. Robinson Worldwide Inc | Stock-Industrials | 2.07% | — | +20.81% | |
| 14 | S | Sentinelone Inc -class A | Stock-Tech | 2.07% | +2.07% | NEW | |
| 15 | ATRC | Atricure Inc | Stock-Other | 2.04% | — | +2.37% | |
| 16 | TREX | Trex Company Inc | Stock-Industrials | 2.04% | +2.04% | NEW | |
| 17 | FLR | Fluor CORP | Stock-Industrials | 2.03% | — | -10.75% | |
| 18 | TNDM | Tandem Diabetes Care Inc | Stock-Other | 1.99% | +1.99% | NEW | |
| 19 | LOVE | Lovesac Co/the | Stock-Other | 1.99% | +1.07% | +63.02% | |
| 20 | VSEC | Vse CORP | Stock-Industrials | 1.96% | — | +4.27% | |
| 21 | GENI | Genius Sports Limited | Stock-Other | 1.93% | +1.93% | NEW | |
| 22 | FC | Franklin Covey Co | Stock-Other | 1.84% | — | -0.90% | |
| 23 | PPHMEUR | Avid Bioservices Inc | Stock-Other | 1.80% | — | -15.08% | |
| 24 | VMD | Viemed Healthcare Inc | Stock-Other | 1.72% | — | +13.26% | |
| 25 | CNMD | Conmed CORP | Stock-Other | 1.69% | +1.69% | NEW | |
| 26 | CRS | Carpenter Technology | Stock-Industrials | 1.69% | — | -22.44% | |
| 27 | GMED | Globus Medical Inc - A | Stock-Healthcare | 1.68% | — | +4.41% | |
| 28 | HCAT | Health Catalyst Inc | Stock-Other | 1.59% | +1.59% | NEW | |
| 29 | NTRA | Natera Inc | Stock-Healthcare | 1.57% | — | +22.47% | |
| 30 | ARLO | Arlo Technologies Inc | Stock-Other | 1.56% | — | +43.52% | |
| 31 | PDFS | Pdf Solutions Inc | Stock-Other | 1.49% | — | -22.18% | |
| 32 | DRVN | Driven Brands Holdings Inc | Stock-Other | 1.44% | +1.44% | NEW | |
| 33 | ADPT | Adaptive Biotechnologies | Stock-Other | 1.42% | +1.42% | NEW | |
| 34 | LUNG | Pulmonx CORP | Stock-Other | 1.41% | +1.41% | NEW | |
| 35 | IMXI | International Money Express | Stock-Other | 1.39% | +1.39% | NEW | |
| 36 | MIDD | Middleby CORP | Stock-Industrials | 1.39% | +1.39% | NEW | |
| 37 | FLS | Flowserve CORP | Stock-Industrials | 1.37% | — | -7.09% | |
| 38 | SITM | Sitime CORP | Stock-Tech | 1.33% | — | +28.26% | |
| 39 | SRAD | Sportradar Group AG | Stock-Other | 1.30% | +1.30% | NEW | |
| 40 | ENVX | Enovix CORP | Stock-Other | 1.27% | — | -0.90% | |
| 41 | SMG | Scotts Miracle-gro Co | Stock-Materials | 1.27% | — | -0.90% | |
| 42 | INGN | Inogen Inc | Stock-Other | 1.25% | — | -12.75% | |
| 43 | OMCL | Omnicell Inc | Stock-Healthcare | 1.24% | +1.24% | NEW | |
| 44 | DAVE | Dave Inc | Stock-Other | 1.17% | +1.17% | NEW | |
| 45 | CPS | Cooper-standard Holding | Stock-Other | 1.11% | +1.11% | NEW | |
| 46 | UTI | Universal Technical Institut | Stock-Other | 1.11% | — | +34.22% | |
| 47 | SIBN | Si-bone Inc | Stock-Other | 1.07% | +1.07% | NEW | |
| 48 | MDXG | Mimedx Group Inc | Stock-Other | 1.00% | — | -20.30% | |
| 49 | VSXY | Victoria's Secret & Co | Stock-Consumer Disc | 0.94% | +0.94% | NEW | |
| 50 | VICR | Vicor CORP | Stock-Tech | 0.93% | — | -24.66% |
1–50 of 70
Portfolio Performance
Performance for Q3 2026
+7.4%
Performance Last 4 Quarters
+22.6%
- Stdev
- +27.6%
- Beta
- +1.72
- Alpha
- -19.5%
- Max Drawdown
- -20.1%
- Annualized Perf
- +11.8%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +0.91
- Stutzer
- +0.16
- Treynor
- +0.09
- Sterling
- +0.48
- Calmar
- +0.59
- Information Ratio
- -0.27
- Tracking Error
- +18.8%
- Stdev Down
- +16.4%
- Winning Months %
- +58.3%
- Losing Months %
- +41.7%
- Best 12 Months
- +38.7%
- Worst 12 Months
- -12.1%
- Efficiency Ratio
- +0.18
- Sharpe
- +0.54
- Stdev Sectors
- +15.1%
- Skewness
- +0.17
- Kurtosis
- -0.5
- Upside Potential
- +2.73
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2024 Q3 | 70 | $98.4M | 0 | ||
| 2024 Q2 | 71 | $103.0M | 0 | ||
| 2024 Q1 | 65 | $99.5M | 0 | ||
| 2023 Q4 | 67 | $101.0M | 0 | ||
| 2023 Q3 | 56 | $81.0M | 0 | ||
| 2023 Q2 | 53 | $95.5M | 0 | ||
| 2023 Q1 | 54 | $85.7M | 0 | ||
| 2022 Q4 | 48 | $88.1M | 0 | ||
| 2022 Q3 | 52 | $79.2M | 0 | ||
| 2022 Q2 | 61 | $106.8M | 0 | ||
| 2022 Q1 | 68 | $137.6M | 0 | ||
| 2021 Q4 | 82 | $171.3M | 0 | ||
| 2021 Q3 | 73 | $160.0M | 0 | ||
| 2021 Q2 | 83 | $191.7M | 98 | ||
| 2021 Q1 | 85 | $185.7M | 62 | ||
| 2020 Q4 | 78 | $143.7M | 75 | ||
| 2020 Q3 | 77 | $123.8M | 79 | ||
| 2020 Q2 | 74 | $97.8M | 100 | ||
| 2020 Q1 | 61 | $66.2M | 100 | ||
| 2019 Q4 | 65 | $91.9M | 78 | ||
| 2019 Q3 | 64 | $85.3M | 79 | ||
| 2019 Q2 | 66 | $96.7M | 71 | ||
| 2019 Q1 | 122 | $118.5M | 62 | ||
| 2018 Q4 | 126 | $109.2M | 83 | ||
| 2018 Q3 | 130 | $128.3M | 56 | ||
| 2018 Q2 | 134 | $131.0M | 80 | ||
| 2018 Q1 | 128 | $103.2M | 78 | ||
| 2017 Q4 | 122 | $104.1M | 52 | ||
| 2017 Q3 | 61 | $106.5M | 71 | ||
| 2017 Q2 | 61 | $105.6M | 73 | ||
| 2017 Q1 | 55 | $98.4M | 88 | ||
| 2016 Q4 | 59 | $91.7M | 95 | ||
| 2016 Q3 | 54 | $82.7M | 100 | ||
| 2016 Q2 | 48 | $61.3M | 100 | ||
| 2016 Q1 | 48 | $72.6M | 84 | ||
| 2015 Q4 | 53 | $95.6M | 74 | ||
| 2015 Q3 | 53 | $92.9M | 67 | ||
| 2015 Q2 | 56 | $95.8M | 76 | ||
| 2015 Q1 | 52 | $6.8B | 0 | ||
| 2014 Q4 | 52 | $96.3M | 0 |
Holding changes this quarter
Millrace Asset Group, Inc.'s most significant position changes for 2024-09-30: Sold out: Ulta Beauty Inc (ULTA); New buy: Ss Spdr S&p Regional Bank (KRE); New buy: Semtech CORP (SMTC); Sold out: Urban Outfitters Inc (URBN); Sold out: Maxlinear Inc (MXL).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | KRE | Ss Spdr S&p Regional Bank | +2.7% | NEW | New buy |
| 2 | SMTC | Semtech CORP | +2.4% | NEW | New buy |
| 3 | RSI | Rush Street Interactive Inc | +2.2% | NEW | New buy |
| 4 | S | Sentinelone Inc -class A | +2.1% | NEW | New buy |
| 5 | TREX | Trex Company Inc | +2% | NEW | New buy |
| 6 | TNDM | Tandem Diabetes Care Inc | +2% | NEW | New buy |
| 7 | GENI | Genius Sports Limited | +1.9% | NEW | New buy |
| 8 | CNMD | Conmed CORP | +1.7% | NEW | New buy |
| 9 | RPAY | Repay Holdings CORP | +1.6% | +216.69% | Add |
| 10 | HCAT | Health Catalyst Inc | +1.6% | NEW | New buy |
| 11 | DRVN | Driven Brands Holdings Inc | +1.4% | NEW | New buy |
| 12 | ADPT | Adaptive Biotechnologies | +1.4% | NEW | New buy |
| 13 | LUNG | Pulmonx CORP | +1.4% | NEW | New buy |
| 14 | IMXI | International Money Express | +1.4% | NEW | New buy |
| 15 | MIDD | Middleby CORP | +1.4% | NEW | New buy |
| 16 | SRAD | Sportradar Group AG | +1.3% | NEW | New buy |
| 17 | OMCL | Omnicell Inc | +1.2% | NEW | New buy |
| 18 | DAVE | Dave Inc | +1.2% | NEW | New buy |
| 19 | CPS | Cooper-standard Holding | +1.1% | NEW | New buy |
| 20 | SIBN | Si-bone Inc | +1.1% | NEW | New buy |
| 21 | LOVE | Lovesac Co/the | +1.1% | +63.02% | Add |
| 22 | VSXY | Victoria's Secret & Co | +0.9% | NEW | New buy |
| 23 | OFIX | Orthofix Medical Inc | +0.9% | NEW | New buy |
| 24 | SGHT | Sight Sciences Inc | +0.9% | NEW | New buy |
| 25 | VTOL | Bristow Group Inc | -0.8% | EXIT | Sold out |
| 26 | MASI* | Masimo CORP | -0.9% | EXIT | Sold out |
| 27 | STIM | Neuronetics Inc | -1% | EXIT | Sold out |
| 28 | COHR | Coherent CORP | -1% | -81.70% | Trim |
| 29 | INDI | Indie Semiconductor Inc-a | -1% | EXIT | Sold out |
| 30 | SEZL | Sezzle Inc | -1.1% | -82.34% | Trim |
| 31 | NARIUSD | Inari Medical Inc | -1.1% | -76.68% | Trim |
| 32 | ATEC | Alphatec Holdings Inc | -1.1% | EXIT | Sold out |
| 33 | AVNW | Aviat Networks Inc | -1.2% | EXIT | Sold out |
| 34 | PETQEUR | Petiq Inc | -1.4% | EXIT | Sold out |
| 35 | LUCK | Lucky Strike Entertainment C | -1.4% | EXIT | Sold out |
| 36 | OLLI | Ollie's Bargain Outlet Holdi | -1.4% | -72.59% | Trim |
| 37 | PRO | Pros Holdings Inc | -1.4% | -88.54% | Trim |
| 38 | ANF | Abercrombie & Fitch Co-cl A | -1.5% | EXIT | Sold out |
| 39 | SG | Sweetgreen Inc - Class A | -1.5% | EXIT | Sold out |
| 40 | MITK | Mitek Systems Inc | -1.6% | EXIT | Sold out |
| 41 | SIMO | Silicon Motion Technol-adr | -1.7% | EXIT | Sold out |
| 42 | ONT | Onterris Inc | -1.7% | EXIT | Sold out |
| 43 | RAMP | Liveramp Holdings Inc | -1.8% | EXIT | Sold out |
| 44 | THRM | Gentherm Inc | -1.8% | EXIT | Sold out |
| 45 | PODD | Insulet CORP | -1.9% | EXIT | Sold out |
| 46 | BWMN | Bowman Consulting Group LTD | -1.9% | -73.94% | Trim |
| 47 | IRTC | Irhythm Holdings Inc | -2% | EXIT | Sold out |
| 48 | MXL | Maxlinear Inc | -2.1% | EXIT | Sold out |
| 49 | URBN | Urban Outfitters Inc | -2.2% | EXIT | Sold out |
| 50 | ULTA | Ulta Beauty Inc | -2.6% | EXIT | Sold out |
Filing History
FAQ
What is Millrace Asset Group, Inc. and what type of investor is it?
Millrace Asset Group, Inc. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2024-09-30), the firm manages a tracked equity portfolio valued at approximately $98.4M, spread across 70 disclosed positions.
What are Millrace Asset Group, Inc.'s largest equity positions?
Based on the latest 13F filing, Millrace Asset Group, Inc.'s top holdings by market value are:
1. Ss Spdr S&p Biotech ETF (XBI) — $3.2M (3.3%)
2. Huron Consulting Group Inc (HURN) — $2.7M (2.7%)
3. Ss Spdr S&p Regional Bank (KRE) — $2.7M (2.7%)
4. Repay Holdings CORP (RPAY) — $2.6M (2.7%)
5. Shift4 Payments Inc-class A (FOUR) — $2.4M (2.4%)
What changes did Millrace Asset Group, Inc. make in its most recent portfolio filing?
In the latest reported quarter, Millrace Asset Group, Inc. made 50 notable position adjustments: 22 new positions were initiated, 2 existing holdings were added to, 6 positions were partially reduced, and 20 were completely exited. The largest of these moves: Sold out: Ulta Beauty Inc (ULTA); New buy: Ss Spdr S&p Regional Bank (KRE); New buy: Semtech CORP (SMTC); Sold out: Urban Outfitters Inc (URBN); Sold out: Maxlinear Inc (MXL)
What sectors does Millrace Asset Group, Inc. focus on?
Millrace Asset Group, Inc. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 38.9%
• Industrials: 34.9%
• Health Care: 16.1%
• Materials: 3.5%
• Consumer Discretionary: 2.6%
• Energy: 2.4%
Investment Profile
Millrace Asset Group, Inc. returned an annualized 11.8% over the trailing 36 months — underperforming the S&P 500 by 19.5 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.72 (more volatile than the market) and a 42% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding, with 38.9% of the portfolio concentrated in Information Technology.
It has added to its SITM position over the past two quarters (+$1.1M, now $1.3M), while trimming PRO over the same stretch (-$2.4M, still holding $118.0K).
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