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RIA / WealthRegistered adviserformer SEC adviserleft the SEC rosterRAUM 100m 1b

MILLRACE ASSET GROUP, INC.

CRD 136907

BERWYN, PA

This is the graph view. The full profile, with its team, deals and sources, is on RIA / Wealth Management.Open the full profile →

Search this name across graphsid dfx:ria:67c0926a-8bc4-8aa1-7310-4b97a6d2f6ee

Data as of Mar 25, 2024 (this record's last observation) from federal regulator filings. Page built Sep 20, 2026, 2:03 AM UTC and rebuilt at most every 15 minutes.

Relationships: 5
Dated events: 3
On other graphs: 0
Observed: Mar 30, 2012 to Mar 25, 2024
13 observations

Across DFX

This entity has not been resolved onto another DFX graph by a shared identifier. A name match elsewhere would be a candidate, never an identity, and none is recorded.

Facts

fact = as filed or announced; derived = computed by DFX; estimate = a band, never a point

Firm class: former SEC adviserderivedabsent from the latest SEC roster
Regulatory AUM: $194MItem 5.F on the latest filing (2024-03-25); as reported, and an affiliate's assets may be counted again on its own filing
Discretionary RAUM: $194M
Private client RAUM: $0derivedItem 5.D individuals plus high net worth individuals
Private client share: 0%derivedprivate client RAUM over total RAUM
Advisors on IAPD: 0
Employees: 8
Advisory employees: 4
Offices: 0Schedule D 1.F, beyond the principal office
Accounts: 3
Private funds: 2Schedule D 7.B(1)
Private fund GAV: $163Mgross asset value as reported per fund; never fund size
SEC number: 801-70920
CIK: 1604831
CRD: 136907
Filings on the tape: 13
First filed: Mar 30, 2012
Latest filed: Mar 25, 2024
Organised: Corporation, Pennsylvania
Website: millraceasset.com

Private funds

Schedule D 7.B(1); gross asset value as reported, never fund size; reporting ends 2024-12-31

Fund	Type	Reported GAV	As of	Owners	First reported	Status	Form D file
MILLRACE FUND, LP	Hedge Fund	$148M	Mar 25, 2024	58	Mar 30, 2012	reported	021-38793
MILLRACE CAPITAL, LP	Other Private Fund	$15.1M	Mar 25, 2024	23	Mar 25, 2021	reported	021-357368

Owners and control persons

Schedule A and B as filed; ownership codes are the form's bands (NA under 5%, A 5 to 10%, B 10 to 25%, C 25 to 50%, D 50 to 75%, E over 75%); people are listed as filed and never merged by name

Owner	Title	Ownership code	Control person	Acquired	First seen	Last seen
DALKIN, JOCELYN, M	CHIEF FINANCIAL OFFICER/CHIEF COMPLIANCE OFFICER	Na	yes	03/2022	Mar 28, 2022	Mar 25, 2024
KITCHEL, WILLIAM, LLOYD	President	D	yes	12/2001	Mar 30, 2012	Mar 25, 2024
MARONEY, WHITNEY, MONTFORT	SECRETARY/TREASURER	D	yes	12/2001	Mar 30, 2012	Mar 25, 2024

Affiliates (Item 7.A)

as filed on Item 7.A; a related person with a CRD on the graph links to its own page

Related person	Type	Class on the graph	Its RAUM	Control	Common control	State
MILLRACE CAPITAL GP, LP	n/a	n/a	n/a	N	yes	n/a
MILLRACE CAPITAL, INC.	n/a	n/a	n/a	N	yes	n/a
MILLRACE PARTNERS, LLC	n/a	n/a	n/a	N	yes	n/a

Regulatory AUM by fiscal year

annual amendments (and the roster's annual snapshot) as filed; where a year was amended twice the later filing draws the line

Fiscal year	Filed	RAUM	Discretionary	Employees	Advisory staff	Offices	Private funds	Fund GAV
2023	Mar 25, 2024	$194M	$194M	8	4	0	2	$163M
2022	Mar 30, 2023	$224M	$224M	9	4	0	2	$184M
2021	Mar 28, 2022	$245M	$245M	10	4	0	2	$245M
2020	Mar 25, 2021	$226M	$226M	8	4	0	2	$226M
2019	Mar 27, 2020	$147M	$147M	8	4	0	1	$133M
2018	Mar 26, 2019	$181M	$181M	8	4	0	1	$133M
2017	Mar 28, 2018	$165M	$165M	8	4	0	1	$119M
2016	Mar 27, 2017	$158M	$158M	7	4	n/a	1	$107M
2015	Mar 22, 2016	$157M	$157M	7	4	n/a	1	$117M
2014	Mar 31, 2015	$154M	$154M	5	3	n/a	1	$117M
2013	Mar 28, 2014	$129M	$129M	5	3	n/a	1	$123M
2012	Mar 26, 2013	$92.4M	$92.4M	5	3	n/a	1	$86.5M
2011	Mar 30, 2012	$67.6M	$67.6M	n/a	n/a	n/a	1	$62.2M

Growth

derived from consecutive annual filings; RAUM as reported

Latest fiscal year	RAUM	A year earlier	1y change	Three years earlier	3y CAGR	Employees	A year earlier	Offices	A year earlier
2023	$194M	$224M	-13.3%	$226M	-5.0%	8	9	0	0

Relationships

Advises (2)

→ MILLRACE FUND, LPPrivate fundHedge Fund, IA
Mar 30, 2012 to presentfactForm ADV
→ MILLRACE CAPITAL, LPPrivate fundOther Private Fund, IA
Mar 25, 2021 to presentfactForm ADV

Controls (3)

← KITCHEL, WILLIAM, LLOYDOwnerPRESIDENT, ownership code D, individual
Mar 30, 2012 to presentfactForm ADV
← MARONEY, WHITNEY, MONTFORTOwnerSECRETARY/TREASURER, ownership code D, individual
Mar 30, 2012 to presentfactForm ADV
← DALKIN, JOCELYN, MOwnerCHIEF FINANCIAL OFFICER/CHIEF COMPLIANCE OFFICER, ownership code NA, individual
Mar 28, 2022 to presentfactForm ADV

Dated events

Occurred
May 2, 2025
Left the SEC roster
Millrace Asset Group, Inc. no longer on the SEC adviser roster (last listed 2025-03-06, RAUM $194.1M)
Form ADVobserved 4 days ago
$194M
Occurred
Mar 28, 2022
Control person joined
M Jocelyn Dalkin (Chief Financial Officer/Chief Compliance Officer) appeared on Schedule A of Millrace Asset Group, Inc.
Form ADVobserved 4 days ago
Occurred
Mar 28, 2022
Control person left
James Daniel Hammond (Chief Financial Officer) no longer on Schedule A of Millrace Asset Group, Inc. (listed 2021-03-25, absent 2022-03-28)
Form ADVobserved 4 days ago

Provenance

Graph: RIA / Wealth Management
Canonical id: dfx:ria:67c0926a-8bc4-8aa1-7310-4b97a6d2f6ee
First observed: Mar 30, 2012
Last observed: Mar 25, 2024 30 months ago
Source families: Federal regulator filings
3 registered feeds stand behind this record; each fact above carries its own dates and, where the publisher serves one, its document.
Resolution: Identity across graphs by shared identifier (CRD, CIK, EIN, ADV fund id, individual CRD) or citation; a name match is shown as a candidate and never merged.

MILLRACE ASSET GROUP, INC.

CRD 136907

BERWYN, PA

This is the graph view. The full profile, with its team, deals and sources, is on RIA / Wealth Management.Open the full profile →

Search this name across graphsid dfx:ria:67c0926a-8bc4-8aa1-7310-4b97a6d2f6ee

Data as of Mar 25, 2024 (this record's last observation) from federal regulator filings. Page built Sep 20, 2026, 2:03 AM UTC and rebuilt at most every 15 minutes.

Fund

Type

Reported GAV

As of

Owners

First reported

Status

Form D file

MILLRACE FUND, LP

Hedge Fund

$148M

Mar 25, 2024

Mar 30, 2012

reported

021-38793

MILLRACE CAPITAL, LP

Other Private Fund

$15.1M

Mar 25, 2024

Mar 25, 2021

reported

021-357368

Owner

Title

Ownership code

Control person

Acquired

First seen

Last seen

DALKIN, JOCELYN, M

CHIEF FINANCIAL OFFICER/CHIEF COMPLIANCE OFFICER

yes

03/2022

Mar 28, 2022

Mar 25, 2024

KITCHEL, WILLIAM, LLOYD

President

yes

12/2001

Mar 30, 2012

Mar 25, 2024

MARONEY, WHITNEY, MONTFORT

SECRETARY/TREASURER

yes

12/2001

Mar 30, 2012

Mar 25, 2024

Related person

Type

Class on the graph

Its RAUM

Control

Common control

State

MILLRACE CAPITAL GP, LP

n/a

yes

n/a

MILLRACE CAPITAL, INC.

n/a

yes

n/a

MILLRACE PARTNERS, LLC

n/a

yes

n/a

Fiscal year

Filed

RAUM

Discretionary

Employees

Advisory staff

Offices

Private funds

Fund GAV

2023

Mar 25, 2024

$194M

$163M

2022

Mar 30, 2023

$224M

$184M

2021

Mar 28, 2022

$245M

2020

Mar 25, 2021

$226M

2019

Mar 27, 2020

$147M

$133M

2018

Mar 26, 2019

$181M

$133M

2017

Mar 28, 2018

$165M

$119M

2016

Mar 27, 2017

$158M

n/a

$107M

2015

Mar 22, 2016

$157M

n/a

$117M

2014

Mar 31, 2015

$154M

n/a

$117M

2013

Mar 28, 2014

$129M

n/a

$123M

2012

Mar 26, 2013

$92.4M

n/a

$86.5M

2011

Mar 30, 2012

$67.6M

n/a

$62.2M

Latest fiscal year

RAUM

A year earlier

1y change

Three years earlier

3y CAGR

Employees

A year earlier

Offices

A year earlier

2023

$194M

$224M

-13.3%

$226M

-5.0%