Managers / Q4 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 $202M in U.S.-listed holdings across 13 positions for Q4 2023.
Its largest position, BLBD, represents 15.6% of the portfolio.
Compared with Q3 2023, the fund opened 5 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 · 85.9% · $173M
- ETP · 14.1% · $28M
Quarter-over-Quarter Changes full breakdown →
vs Q3 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| SGOVISHARES TR | NEW | +284.1K | 284.1K | +$28M | $28M |
| IDCCINTERDIGITAL INC | NEW | +94.0K | 94.0K | +$10M | $10M |
| COHUCOHU INC | NEW | +216.8K | 216.8K | +$8M | $8M |
| LFCRLIFECORE BIOMEDICAL INC | NEW | +1.21M | 1.21M | +$7M | $7M |
| HTLDHEARTLAND EXPRESS INC | NEW | +523.4K | 523.4K | +$7M | $7M |
| DASEKE INC | TRIMMED | −589.2K | 833.0K | −$548,493 | $7M |
| ATROASTRONICS CORP | HELD | −53.8K | 1.64M | +$2M | $29M |
| BLBDBLUE BIRD CORP | HELD | −19.8K | 1.16M | +$6M | $31M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | BLBDBLUE BIRD CORPhistory → | COM | 15.55% | $31M | 1.16M |
| 2 | ATROASTRONICS CORPhistory → | COM | 14.12% | $29M | 1.64M |
| 3 | SGOVISHARES TRhistory → | 0-3 MNTH TREASRY | 14.12% | $28M | 284.1K |
| 4 | ASTHAPOLLO MED HLDGS INChistory → | COM NEW | 11.25% | $23M | 592.8K |
| 5 | BTMDBIOTE CORPhistory → | CLASS A COM | 9.22% | $19M | 3.77M |
| 6 | MPAAMOTORCAR PTS AMER INChistory → | COM | 6.50% | $13M | 1.41M |
| 7 | APEIAMERICAN PUB ED INChistory → | COM | 6.14% | $12M | 1.28M |
| 8 | IDCCINTERDIGITAL INChistory → | COM | 5.05% | $10M | 94.0K |
| 9 | COHUCOHU INChistory → | COM | 3.80% | $8M | 216.8K |
| 10 | LFCRLIFECORE BIOMEDICAL INChistory → | COM | 3.70% | $7M | 1.21M |
| 11 | HTLDHEARTLAND EXPRESS INChistory → | COM | 3.70% | $7M | 523.4K |
| 12 | TACTTRANSACT TECHNOLOGIES INChistory → | COM | 3.50% | $7M | 1.01M |
| 13 | DASEKE INC | COM | 3.34% | $7M | 833.0K |
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 ↗.