Millstone Evans Group, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Millstone Evans Group, LLC reported 762 stock positions worth $146.7 million. Its top holding was Nvidia (NVDA) at 8.7% of the portfolio, followed by Apple (AAPL, 8.0%) and Microsoft (MSFT, 5.3%). Compared with Q1 2025, it opened 29 new positions, sold out of 63, added to 65 and reduced 122. The biggest buy was Microsoft (MSFT, shares +1%) and the biggest sale Dimensional US Core Equity 2 (DFAC, shares −60%).
- Most Recent 13F
- Q2 2026
- Location
- BOULDER, CO
- CIK
- 0002041943
- Portfolio Value
- $146.7M (Q2 2025)
- SEC Filing
- 0002041943-25-000003 ↗ filed Aug 13, 2025
Holdings Value
Holdings 762 stocks · $146.7M
| NVDA Nvidia Corp. | 8.67% | 80,492 | $12.7M | Reduce -0.1% |
| AAPL Apple Inc. | 7.97% | 56,990 | $11.7M | Reduce -0.9% |
| MSFT Microsoft Corp. | 5.33% | 15,707 | $7.8M | Add +0.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 3.53% | 10,664 | $5.2M | Add +0.5% |
| ORCL Oracle Corp. | 2.99% | 20,078 | $4.4M | Reduce -39.0% |
| JPM JPMorgan Chase & Co. | 2.26% | 11,437 | $3.3M | Reduce -4.3% |
| RJF Raymond James Financial Inc. | 2.05% | 19,625 | $3.0M | Reduce -0.2% |
| IMCV iShares Morningstar Mid-Cap | 2.01% | 38,783 | $2.9M | Reduce -3.1% |
| IWS iShares Russell Mid-Cap Valu | 1.97% | 21,890 | $2.9M | Reduce -0.0% |
| DFAC Dimensional US Core Equity 2 | 1.65% | 67,702 | $2.4M | Reduce -60.3% |
| GOOG Alphabet Inc. Class C | 1.57% | 13,021 | $2.3M | Add +1.0% |
| AMZN Amazon.com Inc. | 1.46% | 9,776 | $2.1M | Reduce -0.2% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.26% | 6,257 | $1.8M | Add +0.5% |
| EMLP First Trust North American E | 1.16% | 45,389 | $1.7M | No change |
| LECO Lincoln Electric Holdings | 1.13% | 8,020 | $1.7M | Add +0.3% |
| GOOGL Alphabet Inc. Class A | 1.10% | 9,146 | $1.6M | Add +0.8% |
| MDY State Street SPDR S&P Midcap | 1.06% | 2,757 | $1.6M | Reduce -1.2% |
| JNJ Johnson & Johnson | 1.04% | 10,013 | $1.5M | Reduce -0.1% |
| GE General Electric filed as GE AEROSPACE | 0.91% | 5,202 | $1.3M | No change |
| TMO Thermo Fisher Scientific Inc. | 0.82% | 2,961 | $1.2M | Add +2.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.79% | 1,881 | $1.2M | Reduce -3.8% |
| PG The Procter & Gamble Co. | 0.75% | 6,947 | $1.1M | Add +0.2% |
| ADP Automatic Data Processing | 0.74% | 3,527 | $1.1M | No change |
| WAT Waters Corp. | 0.74% | 3,107 | $1.1M | No change |
| VOO Vanguard S&P 500 ETF | 0.73% | 1,880 | $1.1M | Reduce -19.1% |
| MRK Merck & Co. Inc. | 0.70% | 13,049 | $1.0M | Add +0.2% |
| SBUX Starbucks Corp. | 0.69% | 11,008 | $1.0M | Reduce -0.1% |
| DFIC Dimensional International Co. | 0.66% | 31,139 | $968K | Reduce -61.3% |
| PWRD TCW Transform Systems ETF | 0.65% | 10,581 | $954K | Add +1.9% |
| COST Costco Wholesale Corp. | 0.61% | 902 | $893K | No change |
| V Visa Inc. Class A | 0.60% | 2,489 | $884K | No change |
| NSC Norfolk Southern Corp. | 0.59% | 3,361 | $860K | No change |
| LLY Eli Lilly & Co. | 0.59% | 1,101 | $858K | Add +1.2% |
| DCOR Dimensional US Core Eq 1 ETF | 0.55% | 12,044 | $805K | Reduce -65.5% |
| MMM 3M Co. | 0.54% | 5,180 | $789K | Reduce -0.2% |
| AXP American Express Co. | 0.52% | 2,387 | $761K | No change |
| IWM iShares Russell 2000 ETF | 0.49% | 3,306 | $713K | Reduce -7.5% |
| CSCO Cisco Systems Inc. | 0.48% | 10,216 | $709K | Reduce -2.9% |
| PEP Pepsico Inc. | 0.48% | 5,360 | $708K | Reduce -0.4% |
| T AT&T Inc. | 0.48% | 24,343 | $704K | Reduce -0.1% |
| COWZ Pacer US Cash Cows 100 ETF | 0.48% | 12,685 | $699K | Add +0.0% |
| GEV GE Vernova Inc. | 0.46% | 1,283 | $679K | No change |
| CRM Salesforce Inc. | 0.45% | 2,427 | $662K | No change |
| CALF PCR US SM CP CSH CWS ETF-Usd | 0.43% | 15,939 | $635K | Add +0.0% |
| SYK Stryker Corp. | 0.42% | 1,542 | $610K | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.40% | 12,427 | $588K | No change |
| PNC PNC Financial Services Group | 0.40% | 3,153 | $588K | Reduce -0.5% |
| WMT Walmart Inc. | 0.39% | 5,812 | $568K | Add +0.7% |
| CWS Advisorshares Equity Focused | 0.38% | 7,907 | $554K | Add +1.3% |
| IWF iShares Russell 1000 Growth | 0.38% | 1,299 | $552K | No change |
| VZ Verizon Communications Inc. | 0.38% | 12,744 | $551K | Add +3.8% |
| DFCF Dimensional Core Fixed Inc. | 0.37% | 12,896 | $545K | Reduce -64.7% |
| XOM Exxon Mobil Corp. | 0.37% | 5,049 | $544K | Reduce -19.9% |
| KVUE Kenvue Inc. | 0.36% | 25,159 | $527K | No change |
| RSP Invesco S&P 500 Equal Weight | 0.34% | 2,746 | $499K | Add +0.1% |
| RDVY First Trust Rising Dividend | 0.33% | 7,804 | $490K | No change |
| CVX Chevron Corp. | 0.33% | 3,408 | $488K | Add +0.4% |
| UBSI United Bankshares Inc. | 0.33% | 13,328 | $486K | No change |
| ABBV Abbvie Inc. | 0.33% | 2,609 | $484K | No change |
| CMCSA Comcast Corp. Class A | 0.32% | 13,063 | $466K | Reduce -0.7% |
| HD Home Depot Inc. | 0.31% | 1,257 | $461K | No change |
| MCD McDonald's Corp. | 0.30% | 1,519 | $444K | No change |
| JPST JPMorgan Ultra-Short Income | 0.30% | 8,685 | $440K | Add +170.3% |
| XLV SS Health Care Select Sector | 0.28% | 3,094 | $417K | Add +2.8% |
| UNP Union Pacific Corp. | 0.28% | 1,805 | $415K | Add +2.0% |
| BKNG Booking Holdings Inc. | 0.28% | 71 | $411K | No change |
| TREX Trex Company Inc. | 0.28% | 7,500 | $408K | No change |
| SFM Sprouts Farmers Market Inc. | 0.26% | 2,350 | $387K | No change |
| DFEM Dimensional Emrg MRKT Core | 0.26% | 12,742 | $378K | Reduce -61.0% |
| JCI Johnson Controls Internation | 0.26% | 3,577 | $378K | No change |
| DE Deere & Co. | 0.26% | 739 | $376K | No change |
| NVS Novartis AG-Sponsored ADR | 0.26% | 3,102 | $375K | Reduce -1.0% |
| FLEX Flex Ltd. | 0.26% | 7,500 | $374K | No change |
| BMI Badger Meter Inc. | 0.25% | 1,490 | $365K | No change |
| APD Air Products & Chemicals Inc. | 0.25% | 1,288 | $363K | No change |
| WRN Western Copper and Gold Corp. | 0.25% | 288,926 | $361K | No change |
| TSM Taiwan Semiconductor-SP ADR | 0.25% | 1,592 | $361K | Add +2.3% |
| TGT Target Corp. | 0.24% | 3,567 | $352K | No change |
| BABA Alibaba Group Holding-SP ADR | 0.24% | 3,047 | $346K | No change |
| MA Mastercard Inc. Class A | 0.23% | 610 | $343K | Add +6.5% |
| SHW The Sherwin-Williams Co. | 0.23% | 987 | $339K | Reduce -3.2% |
| DFSD Dimensional Short Duration | 0.22% | 6,843 | $329K | Reduce -69.4% |
| MDT Medtronic PLC | 0.22% | 3,744 | $326K | Reduce -1.0% |
| UPGD Invesco Bloomberg Analyst Ra | 0.22% | 4,512 | $320K | No change |
| XLF SS Financial Select Sector | 0.22% | 6,113 | $320K | Reduce -1.7% |
| IJH iShares Core S&P Midcap ETF | 0.22% | 5,151 | $319K | Reduce -5.5% |
| ETN Eaton Corp. PLC | 0.22% | 894 | $319K | Add +5.5% |
| ICFI Icf International Inc. | 0.22% | 3,752 | $318K | No change |
| BUSE First Busey Corp. | 0.21% | 13,350 | $306K | No change |
| ITRI Itron Inc. | 0.21% | 2,310 | $304K | Reduce -22.9% |
| JAAA Janus Henderson Aaa Clo ETF | 0.21% | 5,988 | $304K | Add +714.7% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.20% | 2,397 | $297K | No change |
| BMY Bristol-Myers Squibb Co. | 0.20% | 6,351 | $294K | Add +0.5% |
| GLD SPDR Gold Shares | 0.20% | 963 | $294K | Add +104.9% |
| MRSH Marsh & McLennan Cos | 0.20% | 1,325 | $290K | No change |
| SUPP TCW Transform Supply Chain E | 0.20% | 4,285 | $289K | Reduce -1.8% |
| IYF iShares US Financials ETF | 0.20% | 2,367 | $286K | No change |
| ALL Allstate Corp. | 0.19% | 1,413 | $284K | No change |
| ESGV Vanguard ESG US Stock ETF | 0.19% | 2,586 | $284K | No change |
| GLW Corning Inc. | 0.19% | 5,367 | $282K | Add +0.5% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $707 (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 12 | $707 | No change |
Total filed on the 13F, all lines: $146.7M.
Portfolio Sells Q1 2025 → Q2 2025
| DFAC Dimensional US Core Equity 2 | Reduce -60.3% | 1.65% | −2.16 |
| DCOR Dimensional US Core Eq 1 ETF | Reduce -65.5% | 0.55% | −0.90 |
| DFIC Dimensional International Co. | Reduce -61.3% | 0.66% | −0.86 |
| AAPL Apple Inc. | Reduce -0.9% | 7.97% | −0.70 |
| DFCF Dimensional Core Fixed Inc. | Reduce -64.7% | 0.37% | −0.67 |
| DFSD Dimensional Short Duration | Reduce -69.4% | 0.22% | −0.50 |
| DFEM Dimensional Emrg MRKT Core | Reduce -61.0% | 0.26% | −0.33 |
| DFGX Dimsnl Intr CF in ETF-Usd Inc. | Reduce -68.6% | 0.14% | −0.29 |
| DGCB Dimensional Global Credit | Reduce -65.8% | 0.15% | −0.27 |
| XOM Exxon Mobil Corp. | Reduce -19.9% | 0.37% | −0.14 |
| ORCL Oracle Corp. | Reduce -39.0% | 2.99% | −0.13 |
| DUHP Dimensional US High Profi Et | Reduce -64.8% | 0.07% | −0.11 |
| DFSV Dimensional US Small Cap Val | Reduce -65.0% | 0.06% | −0.10 |
| DFGR Dim Global Real Estate ETF | Reduce -61.5% | 0.06% | −0.10 |
| JNJ Johnson & Johnson | Reduce -0.1% | 1.04% | −0.09 |
| VOO Vanguard S&P 500 ETF | Reduce -19.1% | 0.73% | −0.08 |
| INVESTMENT MANAGERS SER TR I | Sold out | 0.00% | −0.08 |
| PEP Pepsico Inc. | Reduce -0.4% | 0.48% | −0.07 |
| SCHX Schwab US Large-Cap ETF | Sold out | 0.00% | −0.06 |
| NUSC Nuveen ESG Small-Cap ETF | Reduce -54.9% | 0.06% | −0.06 |
| AGG iShares Core U.S. Aggregate | Reduce -97.7% | 0.00% | −0.06 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -80.9% | 0.01% | −0.05 |
| DFS Discover Financial Services | Sold out | 0.00% | −0.05 |
| SBUX Starbucks Corp. | Reduce -0.1% | 0.69% | −0.05 |
| FTGC First Trust Global Tactical | Sold out | 0.00% | −0.04 |
| TM Toyota Motor Corp. -Spon ADR | Reduce -36.5% | 0.06% | −0.04 |
| DISV Dimensional International SM | Reduce -65.2% | 0.02% | −0.04 |
| DIHP Dimensional International Hi | Reduce -64.7% | 0.02% | −0.04 |
| NUE Nucor Corp. | Reduce -80.6% | 0.01% | −0.03 |
| PFE Pfizer Inc. | Reduce -17.5% | 0.10% | −0.03 |
| SGOV iShares 0-3 Month Treasury B | Reduce -75.7% | 0.01% | −0.02 |
| DFEV Dimensional Emrg MRKT Val | Reduce -65.1% | 0.01% | −0.02 |
| YUM Yum! Brands Inc. | Sold out | 0.00% | −0.02 |
| DVN Devon Energy Corp. | Reduce -12.4% | 0.06% | −0.02 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -29.9% | 0.07% | −0.02 |
| AMGN Amgen Inc. | Reduce -3.1% | 0.13% | −0.02 |
| DEHP Dimensional Emrg MRK Hi Prof | Reduce -64.2% | 0.01% | −0.02 |
| CVS CVS Health Corp. | Reduce -27.4% | 0.05% | −0.02 |
| COP Conocophillips | Reduce -3.5% | 0.07% | −0.01 |
| USMV iShares MSCI USA Min Vol Fac | Reduce -12.7% | 0.11% | −0.01 |
| IWR iShares Russell Mid-Cap ETF | Reduce -17.1% | 0.12% | −0.01 |
| CB Chubb Ltd. | Reduce -15.0% | 0.06% | −0.01 |
| IEMG iShares Core MSCI Emerging | Reduce -35.9% | 0.03% | −0.01 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -51.0% | 0.01% | −0.01 |
| CLVT Clarivate PLC | Reduce -61.0% | 0.01% | −0.01 |
| CMCSA Comcast Corp. Class A | Reduce -0.7% | 0.32% | −0.01 |
| MVIS Microvision Inc. | Sold out | 0.00% | −0.01 |
| SHW The Sherwin-Williams Co. | Reduce -3.2% | 0.23% | −0.01 |
| USHY iShares Broad Usd High Yield | Sold out | 0.00% | −0.01 |
| POST Post Holdings Inc. | Reduce -30.2% | 0.02% | −0.01 |
Portfolio Buys Q1 2025 → Q2 2025
| MSFT Microsoft Corp. | Add +0.8% | 5.33% | +1.36 |
| GOOG Alphabet Inc. Class C | Add +1.0% | 1.57% | +0.21 |
| IBM Intl Business Machines Corp. | Add +0.5% | 1.26% | +0.21 |
| JPST JPMorgan Ultra-Short Income | Add +170.3% | 0.30% | +0.19 |
| JAAA Janus Henderson Aaa Clo ETF | Add +714.7% | 0.21% | +0.18 |
| PWRD TCW Transform Systems ETF | Add +1.9% | 0.65% | +0.16 |
| GOOGL Alphabet Inc. Class A | Add +0.8% | 1.10% | +0.15 |
| GLD SPDR Gold Shares | Add +104.9% | 0.20% | +0.11 |
| LECO Lincoln Electric Holdings | Add +0.3% | 1.13% | +0.11 |
| HELO JPMorgan Hedged Equity ETF | New | 0.10% | +0.10 |
| QQQM Invesco Nasdaq 100 ETF | Add +2773.7% | 0.08% | +0.08 |
| JEPI JPMorgan Equity Premium Inco | Add +404.9% | 0.10% | +0.08 |
| TSM Taiwan Semiconductor-SP ADR | Add +2.3% | 0.25% | +0.07 |
| MOAT Vaneck Morningstar Wide Moat | New | 0.07% | +0.07 |
| MMIN Nylim Mackay Muni Insured Et | New | 0.07% | +0.07 |
| ETN Eaton Corp. PLC | Add +5.5% | 0.22% | +0.06 |
| COF Capital One Financial Corp. | New | 0.06% | +0.06 |
| BXMT Blackstone Mortgage Tru Class A | New | 0.05% | +0.05 |
| WMT Walmart Inc. | Add +0.7% | 0.39% | +0.04 |
| AMD Advanced Micro Devices | Add +9.3% | 0.12% | +0.04 |
| GS Goldman Sachs Group Inc. | Add +3.1% | 0.16% | +0.04 |
| IYK iShares US Consumer Staples | New | 0.04% | +0.04 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +2.6% | 0.19% | +0.03 |
| CWS Advisorshares Equity Focused | Add +1.3% | 0.38% | +0.03 |
| VFLO Victoryshares Free Cash Flow | New | 0.03% | +0.03 |
| FLSW Franklin Ftse Switzerland | New | 0.03% | +0.03 |
| JSI JH Securitized Income ETF | New | 0.03% | +0.03 |
| CALF PCR US SM CP CSH CWS ETF-Usd | Add +0.0% | 0.43% | +0.03 |
| FSCO FS Credit Opportunities Corp. | New | 0.03% | +0.03 |
| GLW Corning Inc. | Add +0.5% | 0.19% | +0.03 |
| MA Mastercard Inc. Class A | Add +6.5% | 0.23% | +0.02 |
| AVXL Anavex Life Sciences Corp. | New | 0.02% | +0.02 |
| RSP Invesco S&P 500 Equal Weight | Add +0.1% | 0.34% | +0.02 |
| DSI iShares ESG MSCI KLD 400 ETF | New | 0.02% | +0.02 |
| UBER Uber Technologies Inc. | Add +3.2% | 0.06% | +0.02 |
| EFA iShares MSCI Eafe ETF | Add +19.1% | 0.06% | +0.02 |
| DIVP Cullen Enhanced Eqt Incm ETF | Add +25.3% | 0.07% | +0.01 |
| PLTR Palantir Technologies Inc. Class A | New | 0.01% | +0.01 |
| PANW Palo Alto Networks Inc. | Add +72.0% | 0.02% | +0.01 |
| XYL Xylem Inc. | Add +3.7% | 0.08% | +0.01 |
| CAT Caterpillar Inc. | Add +11.7% | 0.04% | +0.01 |
| NOW ServiceNow Inc. | Add +17.9% | 0.02% | +0.01 |
| ABT Abbott Laboratories | Add +1.3% | 0.19% | +0.01 |
| XLK SS Technology Select Sector | Add +34.6% | 0.02% | +0.01 |
| MO Altria Group Inc. | Add +12.6% | 0.07% | +0.01 |
| WCMI FT WCM International ETF | Add +18.6% | 0.03% | +0.01 |
| XLY SS Consumer Disc Select Sect | Add +9.9% | 0.04% | +0.01 |
| KO The Coca-Cola Co. | Add +8.3% | 0.09% | +0.01 |
| UL Unilever PLC | Add +7.2% | 0.06% | +0.01 |
| TRV The Travelers Cos Inc. | Add +28.0% | 0.03% | +0.01 |
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 |