Managers / Q1 2025 · view latest →
325 CAPITAL LLC
CIK 0001873893 · 757 THIRD AVENUE, 20TH FLOOR, NEW YORK, NY, 10017 · 212-376-5325
Summary
325 Capital LLC reported $241M in U.S.-listed holdings across 11 positions for Q1 2025.
The portfolio is heavily concentrated: 51A alone accounts for 21.0% of reported value.
Compared with Q4 2024, the fund opened 1 new position and exited 2.
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 · 96.4% · $233M
- Other · 3.6% · $9M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2024 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| SPIRSPIRE GLOBAL INC | NEW | +1.88M | 1.88M | +$15M | $15M |
| HTLDHEARTLAND EXPRESS INC | SOLD OUT | −1.14M | 0 | −$13M | $0 |
| ISHARES TR | SOLD OUT | −42.2K | 0 | −$4M | $0 |
| BLBDBLUE BIRD CORP | HELD | −38.6K | 773.2K | −$6M | $25M |
| ATROASTRONICS CORP | HELD | −42.1K | 1.70M | +$13M | $41M |
| AIOTPOWERFLEET INC | HELD | −67.9K | 3.65M | −$5M | $20M |
| BTMDBIOTE CORP | HELD | +0 | 4.55M | −$13M | $15M |
| MULTISENSOR AI HOLDINGS INC | HELD | +0 | 9.38M | −$9M | $9M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | 51AAMERICAN PUB ED INChistory → | COM | 20.99% | $51M | 2.27M |
| 2 | ATROASTRONICS CORPhistory → | COM | 17.01% | $41M | 1.70M |
| 3 | ASTHASTRANA HEALTH INChistory → | COM NEW | 11.39% | $28M | 886.9K |
| 4 | BLBDBLUE BIRD CORPhistory → | COM | 10.37% | $25M | 773.2K |
| 5 | AIOTPOWERFLEET INChistory → | COM | 8.29% | $20M | 3.65M |
| 6 | MPAAMOTORCAR PTS AMER INChistory → | COM | 7.94% | $19M | 2.02M |
| 7 | LDELIFECORE BIOMEDICAL INChistory → | COM | 6.31% | $15M | 2.16M |
| 8 | SPIRSPIRE GLOBAL INChistory → | COM CL A NEW | 6.28% | $15M | 1.88M |
| 9 | BTMDBIOTE CORPhistory → | CLASS A COM | 6.27% | $15M | 4.55M |
| 10 | MULTISENSOR AI HOLDINGS INC | COM | 3.61% | $9M | 9.38M |
| 11 | TACTTRANSACT TECHNOLOGIES INChistory → | COM | 1.54% | $4M | 1.01M |
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 ↗.