Millstone Evans Group, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 30, 2025), Millstone Evans Group, LLC reported 832 stock positions worth $157.4 million. Its top holding was Nvidia (NVDA) at 9.6% of the portfolio, followed by Apple (AAPL, 9.2%) and Microsoft (MSFT, 5.2%). Compared with Q2 2025, it opened 87 new positions, sold out of 17, added to 96 and reduced 104. The biggest buy was Nvidia (NVDA, shares +0%) and the biggest sale Dimensional US Core Equity 2 (DFAC, shares −66%).
- Most Recent 13F
- Q2 2026
- Location
- BOULDER, CO
- CIK
- 0002041943
- Portfolio Value
- $157.4M (Q3 2025)
- SEC Filing
- 0002041943-25-000005 ↗ filed Oct 30, 2025
Holdings Value
Holdings 832 stocks · $157.4M
| NVDA Nvidia Corp. | 9.58% | 80,792 | $15.1M | Add +0.4% |
| AAPL Apple Inc. | 9.21% | 56,963 | $14.5M | Reduce -0.1% |
| MSFT Microsoft Corp. | 5.18% | 15,743 | $8.2M | Add +0.2% |
| ORCL Oracle Corp. | 3.59% | 20,106 | $5.7M | Add +0.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 3.45% | 10,797 | $5.4M | Add +1.3% |
| JPM JPMorgan Chase & Co. | 2.28% | 11,355 | $3.6M | Reduce -0.7% |
| RJF Raymond James Financial Inc. | 2.14% | 19,491 | $3.4M | Reduce -0.7% |
| GOOG Alphabet Inc. Class C | 2.03% | 13,120 | $3.2M | Add +0.8% |
| IWS iShares Russell Mid-Cap Valu | 1.88% | 21,185 | $3.0M | Reduce -3.2% |
| IMCV iShares Morningstar Mid-Cap | 1.85% | 36,205 | $2.9M | Reduce -6.7% |
| GOOGL Alphabet Inc. Class A | 1.41% | 9,116 | $2.2M | Reduce -0.3% |
| AMZN Amazon.com Inc. | 1.38% | 9,921 | $2.2M | Add +1.5% |
| LECO Lincoln Electric Holdings | 1.21% | 8,056 | $1.9M | Add +0.5% |
| JNJ Johnson & Johnson | 1.18% | 9,988 | $1.9M | Reduce -0.3% |
| EMLP First Trust North American E | 1.13% | 46,624 | $1.8M | Add +2.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.12% | 6,256 | $1.8M | Reduce -0.0% |
| MDY State Street SPDR S&P Midcap | 1.04% | 2,757 | $1.6M | No change |
| GE General Electric filed as GE AEROSPACE | 1.01% | 5,267 | $1.6M | Add +1.3% |
| TMO Thermo Fisher Scientific Inc. | 0.94% | 3,047 | $1.5M | Add +2.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.80% | 1,882 | $1.3M | Add +0.1% |
| VOO Vanguard S&P 500 ETF | 0.73% | 1,866 | $1.1M | Reduce -0.7% |
| PWRD TCW Transform Systems ETF | 0.69% | 11,044 | $1.1M | Add +4.4% |
| MRK Merck & Co. Inc. | 0.68% | 12,795 | $1.1M | Reduce -1.9% |
| PG The Procter & Gamble Co. | 0.68% | 6,985 | $1.1M | Add +0.6% |
| ADP Automatic Data Processing | 0.66% | 3,527 | $1.0M | No change |
| NSC Norfolk Southern Corp. | 0.64% | 3,361 | $1.0M | No change |
| WAT Waters Corp. | 0.59% | 3,107 | $932K | No change |
| SBUX Starbucks Corp. | 0.59% | 10,958 | $927K | Reduce -0.5% |
| DFAC Dimensional US Core Equity 2 | 0.56% | 22,996 | $887K | Reduce -66.0% |
| COST Costco Wholesale Corp. | 0.55% | 928 | $859K | Add +2.9% |
| V Visa Inc. Class A | 0.54% | 2,489 | $850K | No change |
| LLY Eli Lilly & Co. | 0.53% | 1,101 | $840K | No change |
| IWM iShares Russell 2000 ETF | 0.52% | 3,373 | $816K | Add +2.0% |
| AXP American Express Co. | 0.51% | 2,430 | $807K | Add +1.8% |
| MMM 3M Co. | 0.51% | 5,180 | $804K | No change |
| GEV GE Vernova Inc. | 0.51% | 1,298 | $798K | Add +1.2% |
| PEP Pepsico Inc. | 0.48% | 5,360 | $753K | No change |
| COWZ Pacer US Cash Cows 100 ETF | 0.45% | 12,421 | $714K | Reduce -2.1% |
| CSCO Cisco Systems Inc. | 0.44% | 10,087 | $690K | Reduce -1.3% |
| CALF PCR US SM CP CSH CWS ETF-Usd | 0.43% | 15,605 | $683K | Reduce -2.1% |
| T AT&T Inc. | 0.41% | 22,941 | $648K | Reduce -5.8% |
| CWS Advisorshares Equity Focused | 0.41% | 9,331 | $640K | Add +18.0% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.40% | 12,312 | $635K | Reduce -0.9% |
| PNC PNC Financial Services Group | 0.40% | 3,153 | $634K | No change |
| ABBV Abbvie Inc. | 0.39% | 2,665 | $617K | Add +2.1% |
| IWF iShares Russell 1000 Growth | 0.39% | 1,299 | $608K | No change |
| SYK Stryker Corp. | 0.36% | 1,542 | $570K | No change |
| WRN Western Copper and Gold Corp. | 0.36% | 288,926 | $569K | No change |
| CRM Salesforce Inc. | 0.36% | 2,383 | $565K | Reduce -1.8% |
| CVX Chevron Corp. | 0.35% | 3,556 | $552K | Add +4.3% |
| XOM Exxon Mobil Corp. | 0.34% | 4,813 | $543K | Reduce -4.7% |
| WMT Walmart Inc. | 0.34% | 5,200 | $536K | Reduce -10.5% |
| RSP Invesco S&P 500 Equal Weight | 0.33% | 2,746 | $521K | No change |
| VZ Verizon Communications Inc. | 0.33% | 11,735 | $516K | Reduce -7.9% |
| RDVY First Trust Rising Dividend | 0.32% | 7,604 | $511K | Reduce -2.6% |
| UBSI United Bankshares Inc. | 0.32% | 13,328 | $496K | No change |
| HD Home Depot Inc. | 0.31% | 1,211 | $491K | Reduce -3.7% |
| BABA Alibaba Group Holding-SP ADR | 0.30% | 2,665 | $476K | Reduce -12.5% |
| TSM Taiwan Semiconductor-SP ADR | 0.30% | 1,676 | $468K | Add +5.3% |
| MCD McDonald's Corp. | 0.29% | 1,517 | $461K | Reduce -0.1% |
| DCOR Dimensional US Core Eq 1 ETF | 0.29% | 6,359 | $457K | Reduce -47.2% |
| FLEX Flex Ltd. | 0.28% | 7,625 | $442K | Add +1.7% |
| GLW Corning Inc. | 0.28% | 5,326 | $437K | Reduce -0.8% |
| XLV SS Health Care Select Sector | 0.27% | 3,094 | $431K | No change |
| JPST JPMorgan Ultra-Short Income | 0.27% | 8,462 | $429K | Reduce -2.6% |
| UNP Union Pacific Corp. | 0.26% | 1,740 | $411K | Reduce -3.6% |
| KVUE Kenvue Inc. | 0.26% | 25,159 | $408K | No change |
| NVS Novartis AG-Sponsored ADR | 0.25% | 3,102 | $398K | No change |
| CMCSA Comcast Corp. Class A | 0.25% | 12,585 | $395K | Reduce -3.7% |
| TREX Trex Company Inc. | 0.25% | 7,500 | $388K | No change |
| DFIC Dimensional International Co. | 0.24% | 11,740 | $385K | Reduce -62.3% |
| BKNG Booking Holdings Inc. | 0.24% | 71 | $383K | No change |
| JCI Johnson Controls Internation | 0.23% | 3,340 | $367K | Reduce -6.6% |
| ESGV Vanguard ESG US Stock ETF | 0.23% | 3,031 | $359K | Add +17.2% |
| MA Mastercard Inc. Class A | 0.23% | 627 | $357K | Add +2.8% |
| ICFI Icf International Inc. | 0.22% | 3,752 | $348K | No change |
| MDT Medtronic PLC | 0.22% | 3,591 | $342K | Reduce -4.1% |
| SHW The Sherwin-Williams Co. | 0.22% | 987 | $342K | No change |
| APD Air Products & Chemicals Inc. | 0.22% | 1,245 | $340K | Reduce -3.3% |
| DE Deere & Co. | 0.21% | 739 | $338K | No change |
| IJH iShares Core S&P Midcap ETF | 0.21% | 5,151 | $336K | No change |
| ETN Eaton Corp. PLC | 0.21% | 888 | $332K | Reduce -0.7% |
| UPGD Invesco Bloomberg Analyst Ra | 0.21% | 4,412 | $330K | Reduce -2.2% |
| XLF SS Financial Select Sector | 0.21% | 6,113 | $329K | No change |
| TGT Target Corp. | 0.20% | 3,491 | $313K | Reduce -2.1% |
| BUSE First Busey Corp. | 0.20% | 13,350 | $309K | No change |
| VYMI Vanguard Int High DVD YLD Inc. | 0.20% | 3,635 | $308K | New |
| SUPP TCW Transform Supply Chain E | 0.19% | 4,285 | $304K | No change |
| ALL Allstate Corp. | 0.19% | 1,413 | $303K | No change |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.19% | 629 | $302K | No change |
| IYF iShares US Financials ETF | 0.19% | 2,367 | $300K | No change |
| ITRI Itron Inc. | 0.18% | 2,310 | $288K | No change |
| BMY Bristol-Myers Squibb Co. | 0.18% | 6,325 | $285K | Reduce -0.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.18% | 2,456 | $281K | Add +2.5% |
| VYM Vanguard High DVD Yield ETF | 0.18% | 1,963 | $277K | Add +118.6% |
| ABT Abbott Laboratories | 0.17% | 2,057 | $276K | No change |
| JAAA Janus Henderson Aaa Clo ETF | 0.17% | 5,261 | $267K | Reduce -12.1% |
| MRSH Marsh & McLennan Cos | 0.17% | 1,325 | $267K | No change |
| GS Goldman Sachs Group Inc. | 0.17% | 335 | $267K | No change |
| TT Trane Technologies PLC | 0.17% | 632 | $267K | No change |
Other holdings (2): bonds, preferreds, convertibles and warrants · $4K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | 75 | $4K | New |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 12 | $815 | No change |
Total filed on the 13F, all lines: $157.4M.
Portfolio Sells Q2 2025 → Q3 2025
| DFAC Dimensional US Core Equity 2 | Reduce -66.0% | 0.56% | −1.09 |
| DFIC Dimensional International Co. | Reduce -62.3% | 0.24% | −0.42 |
| DCOR Dimensional US Core Eq 1 ETF | Reduce -47.2% | 0.29% | −0.26 |
| DFCF Dimensional Core Fixed Inc. | Reduce -60.3% | 0.14% | −0.23 |
| IMCV iShares Morningstar Mid-Cap | Reduce -6.7% | 1.85% | −0.16 |
| DFEM Dimensional Emrg MRKT Core | Reduce -62.4% | 0.10% | −0.16 |
| IBM Intl Business Machines Corp. | Reduce -0.0% | 1.12% | −0.14 |
| SBUX Starbucks Corp. | Reduce -0.5% | 0.59% | −0.10 |
| CRM Salesforce Inc. | Reduce -1.8% | 0.36% | −0.09 |
| IWS iShares Russell Mid-Cap Valu | Reduce -3.2% | 1.88% | −0.09 |
| DFSD Dimensional Short Duration | Reduce -37.0% | 0.13% | −0.09 |
| DGCB Dimensional Global Credit | Reduce -48.3% | 0.07% | −0.07 |
| T AT&T Inc. | Reduce -5.8% | 0.41% | −0.07 |
| CMCSA Comcast Corp. Class A | Reduce -3.7% | 0.25% | −0.07 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -77.4% | 0.02% | −0.06 |
| VZ Verizon Communications Inc. | Reduce -7.9% | 0.33% | −0.05 |
| GLD SPDR Gold Shares | Reduce -29.9% | 0.15% | −0.05 |
| WMT Walmart Inc. | Reduce -10.5% | 0.34% | −0.05 |
| VHT Vanguard Health Care ETF | Sold out | 0.00% | −0.04 |
| CSCO Cisco Systems Inc. | Reduce -1.3% | 0.44% | −0.04 |
| TGT Target Corp. | Reduce -2.1% | 0.20% | −0.04 |
| DFGX Dimsnl Intr CF in ETF-Usd Inc. | Reduce -23.1% | 0.10% | −0.04 |
| DFGR Dim Global Real Estate ETF | Reduce -60.0% | 0.02% | −0.04 |
| JAAA Janus Henderson Aaa Clo ETF | Reduce -12.1% | 0.17% | −0.04 |
| DRI Darden Restaurants Inc. | Reduce -10.2% | 0.10% | −0.04 |
| APD Air Products & Chemicals Inc. | Reduce -3.3% | 0.22% | −0.03 |
| COP Conocophillips | Reduce -41.9% | 0.04% | −0.03 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.03 |
| JPST JPMorgan Ultra-Short Income | Reduce -2.6% | 0.27% | −0.03 |
| DUHP Dimensional US High Profi Et | Reduce -39.5% | 0.04% | −0.03 |
| XOM Exxon Mobil Corp. | Reduce -4.7% | 0.34% | −0.03 |
| CI The Cigna Group | Reduce -8.9% | 0.07% | −0.03 |
| JCI Johnson Controls Internation | Reduce -6.6% | 0.23% | −0.02 |
| BGR BlackRock Enrgy & Res TR | Reduce -71.0% | 0.01% | −0.02 |
| BNY Bank of New York Mellon Corp. | Reduce -50.0% | 0.03% | −0.02 |
| HES Hess Corp. | Sold out | 0.00% | −0.02 |
| COWZ Pacer US Cash Cows 100 ETF | Reduce -2.1% | 0.45% | −0.02 |
| DFSV Dimensional US Small Cap Val | Reduce -38.8% | 0.04% | −0.02 |
| MRK Merck & Co. Inc. | Reduce -1.9% | 0.68% | −0.02 |
| UNP Union Pacific Corp. | Reduce -3.6% | 0.26% | −0.02 |
| HELO JPMorgan Hedged Equity ETF | Reduce -18.6% | 0.08% | −0.02 |
| SLV iShares Silver Trust | Sold out | 0.00% | −0.02 |
| CB Chubb Ltd. | Reduce -25.6% | 0.04% | −0.02 |
| BMY Bristol-Myers Squibb Co. | Reduce -0.4% | 0.18% | −0.02 |
| ADI Analog Devices Inc. | Reduce -6.2% | 0.16% | −0.02 |
| CCI Crown Castle Inc. | Reduce -1.6% | 0.10% | −0.02 |
| BSX Boston Scientific Corp. | Reduce -25.5% | 0.03% | −0.02 |
| CME Cme Group Inc. | Reduce -20.7% | 0.04% | −0.02 |
| CLX Clorox Company | Reduce -94.2% | 0.00% | −0.01 |
| PEG Public Service Enterprise GP | Reduce -31.9% | 0.02% | −0.01 |
Portfolio Buys Q2 2025 → Q3 2025
| NVDA Nvidia Corp. | Add +0.4% | 9.58% | +0.91 |
| ORCL Oracle Corp. | Add +0.1% | 3.59% | +0.60 |
| GOOG Alphabet Inc. Class C | Add +0.8% | 2.03% | +0.46 |
| VYMI Vanguard Int High DVD YLD Inc. | New | 0.20% | +0.20 |
| GLDM SPDR Gold Minishares Trust | New | 0.13% | +0.13 |
| TMO Thermo Fisher Scientific Inc. | Add +2.9% | 0.94% | +0.12 |
| SCHD Schwab US DVD Equity ETF | Add +455.1% | 0.13% | +0.11 |
| VYM Vanguard High DVD Yield ETF | Add +118.6% | 0.18% | +0.09 |
| GE General Electric | Add +1.3% | 1.01% | +0.09 |
| CHGX Stance Sustainable Beta ETF | New | 0.08% | +0.08 |
| VGK Vanguard Ftse Europe ETF | Add +686.3% | 0.09% | +0.08 |
| LECO Lincoln Electric Holdings | Add +0.5% | 1.21% | +0.07 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +485.9% | 0.08% | +0.06 |
| ABBV Abbvie Inc. | Add +2.1% | 0.39% | +0.06 |
| TSM Taiwan Semiconductor-SP ADR | Add +5.3% | 0.30% | +0.05 |
| DIVP Cullen Enhanced Eqt Incm ETF | Add +81.9% | 0.12% | +0.05 |
| VWO Vanguard Ftse Emerging Marke | New | 0.05% | +0.05 |
| GEV GE Vernova Inc. | Add +1.2% | 0.51% | +0.04 |
| PWRD TCW Transform Systems ETF | Add +4.4% | 0.69% | +0.04 |
| ESGV Vanguard ESG US Stock ETF | Add +17.2% | 0.23% | +0.03 |
| QQQM Invesco Nasdaq 100 ETF | Add +39.0% | 0.12% | +0.03 |
| IWM iShares Russell 2000 ETF | Add +2.0% | 0.52% | +0.03 |
| CWS Advisorshares Equity Focused | Add +18.0% | 0.41% | +0.03 |
| CMI Cummins Inc. | Add +2.8% | 0.15% | +0.03 |
| FLEX Flex Ltd. | Add +1.7% | 0.28% | +0.03 |
| AMAT Applied Materials Inc. | Add +325.0% | 0.03% | +0.02 |
| MMIN Nylim Mackay Muni Insured Et | Add +34.0% | 0.09% | +0.02 |
| CVX Chevron Corp. | Add +4.3% | 0.35% | +0.02 |
| VT Vanguard Tot World STK ETF | Add +1457.1% | 0.02% | +0.02 |
| SNPS Synopsys Inc. | New | 0.02% | +0.02 |
| FLSW Franklin Ftse Switzerland | Add +69.3% | 0.04% | +0.02 |
| IQV Iqvia Holdings Inc. | Add +1.5% | 0.12% | +0.02 |
| GOVT iShares US Treasury Bond ETF | New | 0.01% | +0.01 |
| NXT Nextpower Inc. | Add +1.6% | 0.06% | +0.01 |
| PLTR Palantir Technologies Inc. Class A | Add +98.0% | 0.02% | +0.01 |
| VMBS Vanguard Mortgage-Backed Sec | Add +103.7% | 0.02% | +0.01 |
| USIG iShares Broad Usd Investment | New | 0.01% | +0.01 |
| ALNY Alnylam Pharmaceuticals Inc. | New | 0.01% | +0.01 |
| BX Blackstone Inc. | Add +18.0% | 0.05% | +0.01 |
| UBER Uber Technologies Inc. | Add +18.9% | 0.07% | +0.01 |
| AMG Affiliated Managers Group | Add +41.9% | 0.03% | +0.01 |
| VSGX Vanguard ESG Intl Stock ETF | New | 0.01% | +0.01 |
| PANW Palo Alto Networks Inc. | Add +65.1% | 0.03% | +0.01 |
| IYK iShares US Consumer Staples | Add +36.3% | 0.05% | +0.01 |
| XLK SS Technology Select Sector | Add +37.6% | 0.03% | +0.01 |
| GILD Gilead Sciences Inc. | Add +58.7% | 0.02% | +0.01 |
| SGOV iShares 0-3 Month Treasury B | Add +118.0% | 0.01% | +0.01 |
| POST Post Holdings Inc. | Add +50.0% | 0.03% | +0.01 |
| LAMR Lamar Advertising Co. Class A | New | 0.01% | +0.01 |
| RGA Reinsurance Group of America | Add +82.4% | 0.02% | +0.01 |
Notes & Other Activity Q2 2025 → Q3 2025
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | New | 75 | $4K |
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 |