Managers / Q2 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 $253M in U.S.-listed holdings across 11 positions for Q2 2025.
Its largest position, 51A, represents 18.4% of the portfolio.
The book was largely unchanged from Q1 2025.
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 · 97.8% · $248M
- Other · 2.2% · $6M
Quarter-over-Quarter Changes full breakdown →
vs Q1 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| 51AAMERICAN PUB ED INC | TRIMMED | −741.6K | 1.53M | −$4M | $47M |
| ATROASTRONICS CORP | TRIMMED | −338.2K | 1.36M | +$4M | $46M |
| BLBDBLUE BIRD CORP | HELD | +0 | 773.2K | +$8M | $33M |
| SPIRSPIRE GLOBAL INC | HELD | +0 | 1.88M | +$7M | $22M |
| ASTHASTRANA HEALTH INC | HELD | +0 | 886.9K | −$5M | $22M |
| AIOTPOWERFLEET INC | HELD | +0 | 3.65M | −$4M | $16M |
| MPAAMOTORCAR PTS AMER INC | HELD | +0 | 2.02M | +$3M | $23M |
| BTMDBIOTE CORP | HELD | +0 | 4.55M | +$3M | $18M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q2 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | 51AAMERICAN PUB ED INChistory → | COM | 18.38% | $47M | 1.53M |
| 2 | ATROASTRONICS CORPhistory → | COM | 17.98% | $46M | 1.36M |
| 3 | BLBDBLUE BIRD CORPhistory → | COM | 13.17% | $33M | 773.2K |
| 4 | MPAAMOTORCAR PTS AMER INChistory → | COM | 8.92% | $23M | 2.02M |
| 5 | SPIRSPIRE GLOBAL INChistory → | COM CL A NEW | 8.81% | $22M | 1.88M |
| 6 | ASTHASTRANA HEALTH INChistory → | COM NEW | 8.71% | $22M | 886.9K |
| 7 | BTMDBIOTE CORPhistory → | CLASS A COM | 7.22% | $18M | 4.55M |
| 8 | LDELIFECORE BIOMEDICAL INChistory → | COM | 6.93% | $18M | 2.16M |
| 9 | AIOTPOWERFLEET INChistory → | COM | 6.20% | $16M | 3.65M |
| 10 | MULTISENSOR AI HOLDINGS INC | COM | 2.21% | $6M | 9.38M |
| 11 | TACTTRANSACT TECHNOLOGIES INChistory → | COM | 1.46% | $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 ↗.