325 Capital LLC

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), 325 Capital LLC reported 11 stock positions worth $241.4 million. Its top holding was American Public Education (APEI) at 21.0% of the portfolio, followed by Astronics (ATRO, 17.0%) and Astrana Health (ASTH, 11.4%). Compared with Q4 2024, it opened 1 new position, sold out of 2 and reduced 3. The biggest buy was a new position in Spire Global (SPIR) and the biggest sale an exit from Heartland Express (HTLD).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001873893
Portfolio Value
$241.4M (Q1 2025)
SEC Filing
0001214659-25-007810 ↗ filed May 15, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $216.6M Q1 2024 Q2 2024: $238.1M Q2 2024 Q3 2024: $236.2M Q3 2024 Q4 2024: $258.7M Q4 2024 Q1 2025: $241.4M $241.4M Q1 2025 Q2 2025: $253.3M Q2 2025 Q3 2025: $329.1M Q3 2025 Q4 2025: $285.4M Q4 2025 Q1 2026: $274.5M Q1 2026 Q2 2026: $419.5M Q2 2026

Holdings 11 stocks · $241.4M
APEI American Public Education 20.99% 2,270,108 $50.7M No change
ATRO Astronics Corp. 17.01% 1,698,916 $41.1M Reduce -2.4%
ASTH Astrana Health Inc. 11.39% 886,916 $27.5M No change
BLBD Blue Bird Corp. 10.37% 773,193 $25.0M Reduce -4.8%
AIOT Powerfleet Inc. 8.29% 3,646,379 $20.0M Reduce -1.8%
MPAA Motorcar Parts of America Inc. 7.94% 2,018,795 $19.2M No change
LFCR Lifecore Biomedical Inc. 6.31% 2,162,466 $15.2M No change
SPIR Spire Global Inc. 6.28% 1,875,000 $15.2M New
BTMD Biote Corp. Class A 6.27% 4,548,127 $15.1M No change
MULTISENSOR AI HOLDINGS INC 3.61% 9,375,000 $8.7M No change
TACT Transact Technologies Inc. 1.54% 1,011,789 $3.7M No change

Portfolio Sells Q4 2024 → Q1 2025
HTLD Heartland Express Inc. Sold out 0.00% −4.92
BLBD Blue Bird Corp. Reduce -4.8% 10.37% −1.76
SGOV iShares 0-3 Month Treasury B Sold out 0.00% −1.64
AIOT Powerfleet Inc. Reduce -1.8% 8.29% −1.27
ATRO Astronics Corp. Reduce -2.4% 17.01% +6.27

Portfolio Buys Q4 2024 → Q1 2025
SPIR Spire Global Inc. New 6.28% +6.28

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 12$419.5MASTH, MGNI, APEI, BLBD, SPIR
Q1 2026 12$274.5MAPEI, ASTH, BLBD, MGNI, SPIR
Q4 2025 13$285.4MAPEI, ASTH, MGNI, BLBD, MPAA
Q3 2025 12$329.1MATRO, APEI, BLBD, ASTH, MPAA
Q2 2025 11$253.3MAPEI, ATRO, BLBD, MPAA, SPIR
Q1 2025 11$241.4MAPEI, ATRO, ASTH, BLBD, AIOT
Q4 2024 12$258.7MAPEI, BLBD, BTMD, ASTH, ATRO
Q3 2024 11$236.2MASTH, BLBD, ATRO, APEI, BTMD
Q2 2024 13$238.1MBLBD, ATRO, BTMD, ASTH, APEI
Q1 2024 12$216.6MBLBD, ATRO, SGOV, ASTH, BTMD