Millstone Evans Group, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 5, 2025), Millstone Evans Group, LLC reported 796 stock positions worth $147.4 million. Its top holding was Apple (AAPL) at 8.7% of the portfolio, followed by Nvidia (NVDA, 5.9%) and Microsoft (MSFT, 4.0%). Compared with Q4 2024, it opened 79 new positions, sold out of 16, added to 114 and reduced 73. The biggest buy was Oracle (ORCL, shares +628%) and the biggest sale Microsoft (MSFT, shares −3%).
- Most Recent 13F
- Q2 2026
- Location
- BOULDER, CO
- CIK
- 0002041943
- Portfolio Value
- $147.4M (Q1 2025)
- SEC Filing
- 0002041943-25-000002 ↗ filed May 5, 2025
Holdings Value
Holdings 796 stocks · $147.4M
| AAPL Apple Inc. | 8.67% | 57,525 | $12.8M | Add +1.3% |
| NVDA Nvidia Corp. | 5.93% | 80,595 | $8.7M | Add +0.1% |
| MSFT Microsoft Corp. | 3.97% | 15,579 | $5.8M | Reduce -2.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 3.84% | 10,613 | $5.7M | No change |
| DFAC Dimensional US Core Equity 2 | 3.82% | 170,577 | $5.6M | Reduce -2.4% |
| ORCL Oracle Corp. | 3.12% | 32,896 | $4.6M | Add +628.3% |
| IMCV iShares Morningstar Mid-Cap | 2.01% | 40,011 | $3.0M | Reduce -4.3% |
| JPM JPMorgan Chase & Co. | 1.99% | 11,945 | $2.9M | Reduce -3.2% |
| IWS iShares Russell Mid-Cap Valu | 1.87% | 21,899 | $2.8M | Reduce -1.5% |
| RJF Raymond James Financial Inc. | 1.85% | 19,663 | $2.7M | Reduce -1.0% |
| DFIC Dimensional International Co. | 1.52% | 80,452 | $2.2M | Reduce -0.4% |
| DCOR Dimensional US Core Eq 1 ETF | 1.45% | 34,911 | $2.1M | Add +3.9% |
| GOOG Alphabet Inc. Class C | 1.37% | 12,896 | $2.0M | Add +1.2% |
| AMZN Amazon.com Inc. | 1.26% | 9,792 | $1.9M | No change |
| EMLP First Trust North American E | 1.15% | 45,389 | $1.7M | Reduce -0.4% |
| JNJ Johnson & Johnson | 1.13% | 10,022 | $1.7M | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.05% | 6,229 | $1.5M | Add +1.3% |
| DFCF Dimensional Core Fixed Inc. | 1.04% | 36,579 | $1.5M | Add +1.8% |
| LECO Lincoln Electric Holdings | 1.03% | 7,995 | $1.5M | Reduce -3.0% |
| MDY State Street SPDR S&P Midcap | 1.01% | 2,790 | $1.5M | Reduce -2.5% |
| TMO Thermo Fisher Scientific Inc. | 0.97% | 2,887 | $1.4M | Add +0.2% |
| GOOGL Alphabet Inc. Class A | 0.95% | 9,073 | $1.4M | No change |
| VOO Vanguard S&P 500 ETF | 0.81% | 2,323 | $1.2M | Reduce -0.6% |
| PG The Procter & Gamble Co. | 0.80% | 6,934 | $1.2M | Reduce -4.0% |
| MRK Merck & Co. Inc. | 0.79% | 13,023 | $1.2M | Reduce -1.2% |
| WAT Waters Corp. | 0.78% | 3,107 | $1.1M | Reduce -6.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.74% | 1,956 | $1.1M | Add +16.3% |
| SBUX Starbucks Corp. | 0.73% | 11,022 | $1.1M | Add +0.1% |
| ADP Automatic Data Processing | 0.73% | 3,527 | $1.1M | No change |
| DFSD Dimensional Short Duration | 0.72% | 22,365 | $1.1M | Add +5.5% |
| GE General Electric filed as GE AEROSPACE | 0.71% | 5,202 | $1.0M | No change |
| LLY Eli Lilly & Co. | 0.61% | 1,088 | $899K | No change |
| V Visa Inc. Class A | 0.59% | 2,489 | $872K | No change |
| DFEM Dimensional Emrg MRKT Core | 0.59% | 32,640 | $864K | Reduce -0.5% |
| COST Costco Wholesale Corp. | 0.58% | 902 | $853K | No change |
| PEP Pepsico Inc. | 0.55% | 5,383 | $807K | No change |
| NSC Norfolk Southern Corp. | 0.54% | 3,361 | $796K | Reduce -0.7% |
| MMM 3M Co. | 0.52% | 5,191 | $762K | No change |
| XOM Exxon Mobil Corp. | 0.51% | 6,305 | $750K | Reduce -2.5% |
| PWRD TCW Transform Systems ETF | 0.49% | 10,380 | $724K | Reduce -3.2% |
| IWM iShares Russell 2000 ETF | 0.48% | 3,576 | $713K | Add +8.2% |
| COWZ Pacer US Cash Cows 100 ETF | 0.47% | 12,684 | $695K | Add +3.6% |
| T AT&T Inc. | 0.47% | 24,367 | $689K | Reduce -3.6% |
| CRM Salesforce Inc. | 0.44% | 2,427 | $651K | Reduce -1.5% |
| CSCO Cisco Systems Inc. | 0.44% | 10,516 | $649K | No change |
| AXP American Express Co. | 0.44% | 2,387 | $642K | Reduce -3.0% |
| DFGX Dimsnl Intr CF in ETF-Usd Inc. | 0.43% | 12,264 | $641K | Add +5.5% |
| DGCB Dimensional Global Credit | 0.42% | 11,507 | $612K | Add +3.3% |
| KVUE Kenvue Inc. | 0.41% | 25,159 | $603K | Reduce -4.9% |
| CALF PCR US SM CP CSH CWS ETF-Usd | 0.41% | 15,934 | $598K | Add +8.3% |
| SYK Stryker Corp. | 0.39% | 1,542 | $574K | No change |
| CVX Chevron Corp. | 0.39% | 3,393 | $568K | Add +0.0% |
| PNC PNC Financial Services Group | 0.38% | 3,168 | $557K | Add +0.5% |
| VZ Verizon Communications Inc. | 0.38% | 12,274 | $557K | Reduce -1.6% |
| ABBV Abbvie Inc. | 0.37% | 2,609 | $547K | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.35% | 12,427 | $519K | No change |
| CWS Advisorshares Equity Focused | 0.35% | 7,807 | $511K | No change |
| WMT Walmart Inc. | 0.34% | 5,772 | $507K | Reduce -1.4% |
| CMCSA Comcast Corp. Class A | 0.33% | 13,150 | $485K | No change |
| RSP Invesco S&P 500 Equal Weight | 0.32% | 2,743 | $475K | Add +0.6% |
| MCD McDonald's Corp. | 0.32% | 1,519 | $474K | No change |
| IWF iShares Russell 1000 Growth | 0.32% | 1,299 | $469K | Add +754.6% |
| UBSI United Bankshares Inc. | 0.31% | 13,328 | $462K | Reduce -32.4% |
| HD Home Depot Inc. | 0.31% | 1,257 | $461K | No change |
| RDVY First Trust Rising Dividend | 0.31% | 7,804 | $457K | No change |
| XLV SS Health Care Select Sector | 0.30% | 3,009 | $439K | No change |
| TREX Trex Company Inc. | 0.30% | 7,500 | $436K | No change |
| UNP Union Pacific Corp. | 0.28% | 1,770 | $418K | Add +0.7% |
| BABA Alibaba Group Holding-SP ADR | 0.27% | 3,047 | $403K | No change |
| GEV GE Vernova Inc. | 0.27% | 1,283 | $392K | No change |
| BMY Bristol-Myers Squibb Co. | 0.26% | 6,318 | $385K | Reduce -0.9% |
| APD Air Products & Chemicals Inc. | 0.26% | 1,288 | $380K | No change |
| UNH Unitedhealth Group Inc. | 0.25% | 712 | $373K | No change |
| TGT Target Corp. | 0.25% | 3,567 | $372K | Reduce -0.5% |
| SFM Sprouts Farmers Market Inc. | 0.24% | 2,350 | $359K | No change |
| SHW The Sherwin-Williams Co. | 0.24% | 1,020 | $356K | No change |
| NVS Novartis AG-Sponsored ADR | 0.24% | 3,132 | $349K | No change |
| DE Deere & Co. | 0.24% | 739 | $347K | No change |
| MDT Medtronic PLC | 0.23% | 3,783 | $340K | No change |
| WRN Western Copper and Gold Corp. | 0.22% | 288,926 | $328K | No change |
| BKNG Booking Holdings Inc. | 0.22% | 71 | $327K | Reduce -7.8% |
| MRSH Marsh & McLennan Cos | 0.22% | 1,325 | $323K | No change |
| ICFI Icf International Inc. | 0.22% | 3,752 | $319K | No change |
| IJH iShares Core S&P Midcap ETF | 0.22% | 5,448 | $318K | Add +3.1% |
| UPGD Invesco Bloomberg Analyst Ra | 0.21% | 4,512 | $316K | No change |
| MA Mastercard Inc. Class A | 0.21% | 573 | $314K | Add +2.7% |
| ITRI Itron Inc. | 0.21% | 2,995 | $314K | No change |
| XLF SS Financial Select Sector | 0.21% | 6,217 | $310K | Add +24.9% |
| ALL Allstate Corp. | 0.20% | 1,413 | $293K | No change |
| BUSE First Busey Corp. | 0.20% | 13,350 | $288K | New |
| JCI Johnson Controls Internation | 0.19% | 3,577 | $287K | No change |
| BMI Badger Meter Inc. | 0.19% | 1,490 | $283K | No change |
| ABT Abbott Laboratories | 0.18% | 2,031 | $269K | Reduce -2.2% |
| IYF iShares US Financials ETF | 0.18% | 2,367 | $267K | Reduce -12.5% |
| DUHP Dimensional US High Profi Et | 0.18% | 7,803 | $259K | Add +0.2% |
| TSM Taiwan Semiconductor-SP ADR | 0.18% | 1,556 | $258K | Add +1.2% |
| ESGV Vanguard ESG US Stock ETF | 0.17% | 2,586 | $253K | Add +63.5% |
| SUPP TCW Transform Supply Chain E | 0.17% | 4,363 | $252K | No change |
| FLEX Flex Ltd. | 0.17% | 7,500 | $248K | No change |
| GLW Corning Inc. | 0.17% | 5,340 | $244K | Reduce -1.4% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $573 (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 12 | $573 | New |
Total filed on the 13F, all lines: $147.4M.
Portfolio Sells Q4 2024 → Q1 2025
| MSFT Microsoft Corp. | Reduce -2.9% | 3.97% | −0.64 |
| DFAC Dimensional US Core Equity 2 | Reduce -2.4% | 3.82% | −0.30 |
| RJF Raymond James Financial Inc. | Reduce -1.0% | 1.85% | −0.25 |
| CFB Crossfirst Bankshares Inc. | Sold out | 0.00% | −0.21 |
| UBSI United Bankshares Inc. | Reduce -32.4% | 0.31% | −0.19 |
| FTGC First Trust Global Tactical | Reduce -82.2% | 0.04% | −0.18 |
| CRM Salesforce Inc. | Reduce -1.5% | 0.44% | −0.12 |
| IMCV iShares Morningstar Mid-Cap | Reduce -4.3% | 2.01% | −0.10 |
| MDY State Street SPDR S&P Midcap | Reduce -2.5% | 1.01% | −0.10 |
| MRK Merck & Co. Inc. | Reduce -1.2% | 0.79% | −0.10 |
| TSLA Tesla Inc. | Reduce -71.1% | 0.02% | −0.10 |
| IWS iShares Russell Mid-Cap Valu | Reduce -1.5% | 1.87% | −0.09 |
| TGT Target Corp. | Reduce -0.5% | 0.25% | −0.08 |
| ALTM Arcadium Lithium PLC | Sold out | 0.00% | −0.07 |
| AXP American Express Co. | Reduce -3.0% | 0.44% | −0.06 |
| WAT Waters Corp. | Reduce -6.0% | 0.78% | −0.06 |
| VOO Vanguard S&P 500 ETF | Reduce -0.6% | 0.81% | −0.05 |
| PWRD TCW Transform Systems ETF | Reduce -3.2% | 0.49% | −0.04 |
| BKNG Booking Holdings Inc. | Reduce -7.8% | 0.22% | −0.04 |
| PYPL PayPal Holdings Inc. | Reduce -1.1% | 0.12% | −0.04 |
| VYM Vanguard High DVD Yield ETF | Reduce -27.1% | 0.08% | −0.03 |
| JPM JPMorgan Chase & Co. | Reduce -3.2% | 1.99% | −0.03 |
| LECO Lincoln Electric Holdings | Reduce -3.0% | 1.03% | −0.03 |
| PFE Pfizer Inc. | Reduce -14.2% | 0.12% | −0.03 |
| PG The Procter & Gamble Co. | Reduce -4.0% | 0.80% | −0.02 |
| NFLX Netflix Inc. | Reduce -19.0% | 0.12% | −0.02 |
| IYF iShares US Financials ETF | Reduce -12.5% | 0.18% | −0.02 |
| DFSV Dimensional US Small Cap Val | Reduce -3.3% | 0.16% | −0.02 |
| ADI Analog Devices Inc. | Reduce -7.9% | 0.15% | −0.02 |
| ALK Alaska Air Group Inc. | Reduce -13.0% | 0.03% | −0.02 |
| WMT Walmart Inc. | Reduce -1.4% | 0.34% | −0.02 |
| SUSA iShares ESG Optimized MSCI U | Reduce -16.6% | 0.06% | −0.02 |
| GHC Graham Holdings Co. Class B | Sold out | 0.00% | −0.01 |
| STZ Constellation Brands Inc. Class A | Reduce -2.4% | 0.06% | −0.01 |
| DEO Diageo PLC-Sponsored ADR | Reduce -23.0% | 0.02% | −0.01 |
| GM General Motors Co. | Reduce -2.5% | 0.06% | −0.01 |
| GLW Corning Inc. | Reduce -1.4% | 0.17% | −0.01 |
| ROIC Retail Opportunity Investmen | Sold out | 0.00% | −0.01 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -7.1% | 0.06% | −0.01 |
| ERTH Invesco MSCI Sustainable Fut | Reduce -2.2% | 0.10% | −0.01 |
| STT State Street Corp. | Reduce -0.8% | 0.06% | −0.01 |
| RDDT Reddit Inc. Class A | Reduce -22.6% | 0.01% | −0.01 |
| LUV Southwest Airlines Co. | Reduce -16.3% | 0.03% | −0.01 |
| COP Conocophillips | Reduce -10.7% | 0.09% | −0.01 |
| DFAX Dimensional World Ex US Core | Sold out | 0.00% | −0.00 |
| FXZ First Trust Materials Alphad | Sold out | 0.00% | −0.00 |
| LHX L3HARRIS Technologies Inc. | Reduce -25.0% | 0.01% | −0.00 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -13.2% | 0.03% | −0.00 |
| MLM Martin Marietta Materials | Sold out | 0.00% | −0.00 |
| PPG PPG Industries Inc. | Reduce -4.2% | 0.03% | −0.00 |
Portfolio Buys Q4 2024 → Q1 2025
| ORCL Oracle Corp. | Add +628.3% | 3.12% | +2.61 |
| IWF iShares Russell 1000 Growth | Add +754.6% | 0.32% | +0.28 |
| BUSE First Busey Corp. | New | 0.20% | +0.20 |
| IBM Intl Business Machines Corp. | Add +1.3% | 1.05% | +0.13 |
| USMV iShares MSCI USA Min Vol Fac | Add +353.9% | 0.12% | +0.10 |
| IWD iShares Russell 1000 Value E | Add +641.4% | 0.11% | +0.10 |
| IVE iShares S&P 500 Value ETF | New | 0.09% | +0.09 |
| FIW First Trust Water ETF | New | 0.09% | +0.09 |
| IWB iShares Russell 1000 ETF | Add +425.3% | 0.10% | +0.08 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +16.3% | 0.74% | +0.07 |
| XVV iShares ESG Select Screened | New | 0.07% | +0.07 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +100.7% | 0.14% | +0.07 |
| JPST JPMorgan Ultra-Short Income | Add +164.9% | 0.11% | +0.07 |
| OEF iShares S&P 100 ETF | New | 0.06% | +0.06 |
| ESGV Vanguard ESG US Stock ETF | Add +63.5% | 0.17% | +0.06 |
| CVX Chevron Corp. | Add +0.0% | 0.39% | +0.05 |
| SBUX Starbucks Corp. | Add +0.1% | 0.73% | +0.05 |
| XLF SS Financial Select Sector | Add +24.9% | 0.21% | +0.05 |
| DFSD Dimensional Short Duration | Add +5.5% | 0.72% | +0.04 |
| DIVP Cullen Enhanced Eqt Incm ETF | Add +288.6% | 0.06% | +0.04 |
| AWK American Water Works Co. Inc. | New | 0.04% | +0.04 |
| PRMB Primo Brands Corp. | New | 0.04% | +0.04 |
| QUAL iShares MSCI USA Quality Fac | New | 0.03% | +0.03 |
| DFCF Dimensional Core Fixed Inc. | Add +1.8% | 1.04% | +0.03 |
| ITOT iShares Core S&P Total U.S. | Add +50.2% | 0.11% | +0.03 |
| PBE Invesco Biotechnology & Geno | Add +75.8% | 0.07% | +0.03 |
| FEX First Trust Large Cap Core A | New | 0.03% | +0.03 |
| SGOV iShares 0-3 Month Treasury B | New | 0.03% | +0.03 |
| LRCX Lam Research Corp. | New | 0.03% | +0.03 |
| VFH Vanguard Financials ETF | Add +67.5% | 0.07% | +0.03 |
| SPLV Invesco S&P 500 Low Volatili | New | 0.03% | +0.03 |
| KO The Coca-Cola Co. | Add +27.1% | 0.08% | +0.03 |
| IWP iShares Russell Mid-Cap Grow | Add +436.6% | 0.03% | +0.02 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +1040.5% | 0.03% | +0.02 |
| DVY iShares Select Dividend ETF | Add +89.4% | 0.05% | +0.02 |
| PEY Invesco High Yield Equity Di | New | 0.02% | +0.02 |
| TEL Te Connectivity PLC | New | 0.02% | +0.02 |
| XLP SS Consumer Staples Sel Sect | Add +557.4% | 0.02% | +0.02 |
| XYL Xylem Inc. | Add +38.7% | 0.07% | +0.02 |
| DFGX Dimsnl Intr CF in ETF-Usd Inc. | Add +5.5% | 0.43% | +0.02 |
| JEPI JPMorgan Equity Premium Inco | New | 0.02% | +0.02 |
| WCMI FT WCM International ETF | New | 0.02% | +0.02 |
| IWR iShares Russell Mid-Cap ETF | Add +20.6% | 0.13% | +0.02 |
| ICF iShares Select U.S. REIT ETF | Add +441.7% | 0.02% | +0.02 |
| POST Post Holdings Inc. | Add +167.2% | 0.03% | +0.02 |
| AMT American Tower Corp. | Add +1.1% | 0.11% | +0.02 |
| DGCB Dimensional Global Credit | Add +3.3% | 0.42% | +0.02 |
| IEMG iShares Core MSCI Emerging | Add +39.9% | 0.04% | +0.01 |
| MA Mastercard Inc. Class A | Add +2.7% | 0.21% | +0.01 |
| IJR iShares Core S&P Small-Cap E | Add +74.2% | 0.03% | +0.01 |
Notes & Other Activity Q4 2024 → Q1 2025
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | New | 12 | $573 |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 874 | $184.8M | NVDA, AAPL, BLDX, MSFT, BRK.B |
| Q1 2026 | 854 | $166.6M | AAPL, NVDA, MSFT, BRK.B, GOOG |
| Q4 2025 | 855 | $170.0M | AAPL, NVDA, MSFT, BRK.B, ORCL |
| Q3 2025 | 832 | $157.4M | NVDA, AAPL, MSFT, ORCL, BRK.B |
| Q2 2025 | 762 | $146.7M | NVDA, AAPL, MSFT, BRK.B, ORCL |
| Q1 2025 | 796 | $147.4M | AAPL, NVDA, MSFT, BRK.B, DFAC |
| Q4 2024 | 732 | $146.7M | AAPL, NVDA, MSFT, DFAC, BRK.B |