Managers / Q1 2023 · view latest →
325 CAPITAL LLC
CIK 0001873893 · 757 THIRD AVENUE, 20TH FLOOR, NEW YORK, NY, 10017 · 212-376-5325
Summary
325 Capital LLC reported $114M in U.S.-listed holdings across 9 positions for Q1 2023.
The portfolio is heavily concentrated: BLBD alone accounts for 21.1% of reported value.
Compared with Q4 2022, the fund opened 2 new positions and exited 0.
Portfolio Metrics
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, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 100.0% · $114M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2022 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| BTMDBIOTE CORP | NEW | +1.97M | 1.97M | +$12M | $12M |
| DASEKE INC | NEW | +290.9K | 290.9K | +$2M | $2M |
| APEIAMERICAN PUB ED INC | ADDED | +229.9K | 1.17M | −$5M | $6M |
| BLBDBLUE BIRD CORP | HELD | +0 | 1.18M | +$12M | $24M |
| ATROASTRONICS CORP | HELD | +0 | 1.69M | +$5M | $23M |
| MPAAMOTORCAR PTS AMER INC | HELD | +0 | 1.03M | −$5M | $8M |
| ASTHAPOLLO MED HLDGS INC | HELD | +0 | 357.4K | +$2M | $13M |
| NEXTGEN HEALTHCARE INC | HELD | +0 | 1.14M | −$2M | $20M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | BLBDBLUE BIRD CORPhistory → | COM | 21.14% | $24M | 1.18M |
| 2 | ATROASTRONICS CORPhistory → | COM | 19.73% | $23M | 1.69M |
| 3 | NEXTGEN HEALTHCARE INC | COM | 17.41% | $20M | 1.14M |
| 4 | ASTHAPOLLO MED HLDGS INChistory → | COM NEW | 11.39% | $13M | 357.4K |
| 5 | BTMDBIOTE CORPhistory → | CLASS A COM | 10.64% | $12M | 1.97M |
| 6 | MPAAMOTORCAR PTS AMER INChistory → | COM | 6.72% | $8M | 1.03M |
| 7 | APEIAMERICAN PUB ED INChistory → | COM | 5.53% | $6M | 1.17M |
| 8 | TACTTRANSACT TECHNOLOGIES INChistory → | COM | 5.47% | $6M | 1.01M |
| 9 | DASEKE INC | COM | 1.96% | $2M | 290.9K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $274M | 12 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $285M | 13 | Feb 17, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $329M | 12 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $253M | 11 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $241M | 11 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $259M | 12 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $236M | 11 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $238M | 13 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $217M | 12 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $202M | 13 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $121M | 8 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $152M | 9 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $114M | 9 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $92M | 7 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $86M | 8 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $108M | 10 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $132M | 9 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $102M | 9 | Feb 14, 2022 | 13F-HR | changes · 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 ↗.