Managers / Q3 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 $121M in U.S.-listed holdings across 8 positions for Q3 2023.
The portfolio is heavily concentrated: ATRO alone accounts for 22.1% of reported value.
Compared with Q2 2023, the fund opened 0 new positions and exited 1.
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. 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% · $121M
Quarter-over-Quarter Changes full breakdown →
vs Q2 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| QSIIEURNEXTGEN HEALTHCARE INC | SOLD OUT | −1.14M | 0 | −$19M | $0 |
| DSKEUSDDASEKE INC | ADDED | +575.3K | 1.42M | +$1M | $7M |
| ASTHAPOLLO MED HLDGS INC | ADDED | +103.2K | 592.8K | +$3M | $18M |
| ATROASTRONICS CORP | HELD | +0 | 1.69M | −$7M | $27M |
| BTMDBIOTE CORP | HELD | +0 | 3.77M | −$6M | $19M |
| TACTTRANSACT TECHNOLOGIES INC | HELD | +0 | 1.01M | −$3M | $6M |
| BLBDBLUE BIRD CORP | HELD | +0 | 1.18M | −$1M | $25M |
| MPAAMOTORCAR PTS AMER INC | HELD | +0 | 1.41M | +$491,770 | $11M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | ATROASTRONICS CORPhistory → | COM | 22.11% | $27M | 1.69M |
| 2 | BLBDBLUE BIRD CORPhistory → | COM | 20.86% | $25M | 1.18M |
| 3 | BTMDBIOTE CORPhistory → | CLASS A COM | 15.91% | $19M | 3.77M |
| 4 | ASTHAPOLLO MED HLDGS INChistory → | COM NEW | 15.09% | $18M | 592.8K |
| 5 | MPAAMOTORCAR PTS AMER INChistory → | COM | 9.38% | $11M | 1.41M |
| 6 | DSKEUSDDASEKE INChistory → | COM | 6.02% | $7M | 1.42M |
| 7 | TACTTRANSACT TECHNOLOGIES INChistory → | COM | 5.36% | $6M | 1.01M |
| 8 | 51AAMERICAN PUB ED INChistory → | COM | 5.27% | $6M | 1.28M |
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 ↗.