SEC 13F Intelligence

Managers / Q1 2026

325 CAPITAL LLC

CIK 0001873893 · 757 THIRD AVENUE, 20TH FLOOR, NEW YORK, NY, 10017 · 212-376-5325

Reported Value
$274M
Q1 2026
Positions
12
Filings on Record
18
2019–present window
Filed
May 15, 2026
original filing

Summary

325 Capital LLC reported $274M in U.S.-listed holdings across 12 positions for Q1 2026.

The portfolio is heavily concentrated: 51A alone accounts for 24.5% of reported value.

Compared with Q4 2025, the fund opened 0 new positions and exited 1.

Portfolio Metrics

Turnover
+11.0%
vs prior filed quarter
Top-10 Concentration
+96.6%
share of reported value
Largest Position
+24.5%
American Pub Ed

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’21: $102MQ4 ’21Q1 ’22: $132MQ2 ’22: $108MQ3 ’22: $86MQ3 ’22Q4 ’22: $92MQ1 ’23: $114MQ2 ’23: $152MQ2 ’23Q3 ’23: $121MQ4 ’23: $202MQ1 ’24: $217MQ1 ’24Q2 ’24: $238MQ3 ’24: $236MQ4 ’24: $259MQ4 ’24Q1 ’25: $241MQ2 ’25: $253MQ3 ’25: $329MQ3 ’25Q4 ’25: $285MQ1 ’26: $274Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 97.8%Other: 2.2%
  • Common Stock · 97.8% · $268M
  • Other · 2.2% · $6M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ATROASTRONICS CORPSOLD OUT−70.0K0−$4M$0
DBDDIEBOLD NIXDORF INCADDED+48.7K242.1K+$5M$18M
51AAMERICAN PUB ED INCTRIMMED−344.8K1.18M+$10M$67M
LDELIFECORE BIOMEDICAL INCHELD+02.16M−$10M$8M
SPIRSPIRE GLOBAL INCHELD+01.88M+$10M$24M
MGNIMAGNITE INCHELD+02.01M−$9M$24M
AIOTPOWERFLEET INCHELD+03.84M−$9M$12M
BLBDBLUE BIRD CORPHELD+0679.8K+$7M$39M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2026

12 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
151AAMERICAN PUB ED INChistory →COM24.53%$67M1.18M
2ASTHASTRANA HEALTH INChistory →COM NEW16.43%$45M1.84M
3BLBDBLUE BIRD CORPhistory →COM14.07%$39M679.8K
4MGNIMAGNITE INChistory →COM8.68%$24M2.01M
5SPIRSPIRE GLOBAL INChistory →COM CL A NEW8.59%$24M1.88M
6MPAAMOTORCAR PTS AMER INChistory →COM8.13%$22M2.02M
7DBDDIEBOLD NIXDORF INChistory →COM SHS6.65%$18M242.1K
8AIOTPOWERFLEET INChistory →COM4.31%$12M3.84M
9LDELIFECORE BIOMEDICAL INChistory →COM2.93%$8M2.16M
10BTMDBIOTE CORPhistory →CLASS A COM2.24%$6M4.55M
11MULTISENSOR AI HOLDINGS INCCOM2.23%$6M26.49M
12TACTTRANSACT TECHNOLOGIES INChistory →COM1.21%$3M1.01M

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$274M12May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$285M13Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$329M12Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$253M11Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$241M11May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$259M12Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$236M11Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$238M13Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$217M12May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$202M13Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$121M8Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$152M9Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$114M9May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$92M7Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$86M8Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$108M10Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$132M9May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$102M9Feb 14, 202213F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.