Cruiser Capital Advisors, LLC In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 11, 2025), Cruiser Capital Advisors, LLC reported 40 stock positions worth $180.8 million . Its top holding was State STR SPDR S&P 500 ETF T at 31.8% of the portfolio, followed by State STR SPDR S&P 500 ETF T (17.1% ) and Ftai Aviation (FTAI, 16.7% ). Compared with Q3 2024, it opened 4 new positions, sold out of 5, added to 15 and reduced 6. The biggest buy was State STR SPDR S&P 500 ETF T (shares +400% ) and the biggest sale an exit from Ftai Aviation .
Location Stamford, CT
CIK 0001713506
Portfolio Value $180.8M (Q4 2024) Holdings 40 stocks · $180.8M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q3 2024 STATE STR SPDR S&P 500 ETF T 100,000 $57.5M Add +400.0% STATE STR SPDR S&P 500 ETF T 50,000 $31.0M Add +150.0% FTAI Ftai Aviation Ltd. 221,596 $30.1M Add +0.2% CRH CRH PLC 83,191 $7.7M Add +9.2% APG Api Group Corp. 167,494 $6.0M Add +0.6% GFL GFL Environmental Inc.-Sub VT 109,767 $4.9M No change ASH Ashland Inc. 60,636 $4.3M Add +28.9% AVD American Vanguard Corp. 789,284 $3.7M Reduce -34.3% ALIT Alight Inc. Class A 515,451 $3.6M Reduce -4.3% NFE New Fortress Energy Inc. 234,900 $3.6M New FIP Ftai Infrastructure Inc. 378,876 $2.8M Reduce -11.2% MSOS Advisorshares Pure US Cann 375,000 $2.6M New NVEE NV5 Global Inc. 134,808 $2.5M Add +22.8% ORN Orion Group Holdings Inc. 231,521 $1.7M Reduce -4.8% GECC Great Elm Capital Corp. 141,259 $1.6M No change AGM Federal Agric MTG Corp. Class C 7,749 $1.5M No change URNM Sprott Uranium Miners ETF 72,000 $1.5M Add +30.9% REEAF Ree Automotive Ltd. Class A 152,557 $1.3M Add +21.6% CECO Ceco Environmental Corp. 43,570 $1.3M Add +9.7% RITM Rithm Capital Corp. 115,600 $1.3M Add +204.2% FSK FS KKR Capital Corp. 55,227 $1.2M No change APD Air Products & Chemicals Inc. 3,700 $1.1M New CORZ Core Scientific Inc. 74,458 $1.0M Add +15.5% GTLS Chart Industries Inc. 5,200 $992K No change ALIGHT INC 100,000 $900K No change KINS Kingstone Cos Inc. 44,520 $676K Add +3.6% PBI Pitney Bowes Inc. 92,306 $668K No change MOD Modine Manufacturing Co. 5,000 $580K No change NN Nextnav Inc. 33,854 $527K No change SKIL Skillsoft Corp. 20,813 $499K No change CXT Crane NXT Co. 7,824 $456K No change GPGI Gpgi Inc. filed as COMPOSECURE INC 27,547 $422K Add +15.7% TDAY USA Today Co. Inc. filed as GANNETT CO INC 66,075 $334K Add +149.6% GRPN Groupon Inc. 25,000 $304K New BCIC BCP Investment Corp. filed as PORTMAN RIDGE FIN CORP 16,278 $266K No change EHAB Enhabit Inc. 23,920 $187K Reduce -74.4% INVE Inve Technologies Inc. filed as IDENTIV INC 41,778 $153K No change LXU LSB Industries Inc. 10,000 $76K No change NDLS Noodles & Co. 15,517 $9K Reduce -60.4% SEQLL INC 70,000 $509 No change
Other holdings (10): bonds, preferreds, convertibles and warrants · $553K (not counted above) Security Class Shares / Principal Value Change SABLE OFFSHORE CORP *W EXP 02/14/202 21,000 $481K New RSVRW Reservoir Media-CW26 *W EXP 08/26/202 30,503 $44K No change SCLXW Vickers Vantage Corp. I -CW27 *W EXP 11/10/202 49,999 $11K No change AEAEW Altenergy Acquisition -CW23 *W EXP 10/29/202 20,000 $7K No change BDMDW Baird Medical Investment -28 *W EXP 10/01/202 27,500 $6K New MSAIW Sportsmap Tech Acq -CW27 *W EXP 12/19/202 37,500 $2K No change VRMEW Verifyme Inc. -CW25 *W EXP 06/22/202 50,764 $1K New PHYWF PHYT WS -CW *W EXP 05/03/202 37,500 $1K No change ICUCW LMF Acquisition Opp -A -CW26 *W EXP 10/28/202 32,473 $669 No change BENFW Beneficient Co. Group -28 *W EXP 06/07/202 48,750 $375 No change
Total filed on the 13F, all lines: $181.4M.
Portfolio Sells Q3 2024 → Q4 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▲ FTAI AVIATION LTD Sold out 0.00% −7.73 FTAI AVIATION LTD Sold out 0.00% −6.10 AVD American Vanguard Corp. Reduce -34.3% 2.02% −3.16 FIP Ftai Infrastructure Inc. Reduce -11.2% 1.52% −1.73 ALIT Alight Inc. Class A Reduce -4.3% 1.97% −1.27 CRH PLC Sold out 0.00% −0.67 CVS CVS Health Corp. Sold out 0.00% −0.51 EHAB Enhabit Inc. Reduce -74.4% 0.10% −0.50 ORN Orion Group Holdings Inc. Reduce -4.8% 0.94% −0.20 JRVR James River Group Holdings I Sold out 0.00% −0.16 NDLS Noodles & Co. Reduce -60.4% 0.01% −0.03
Portfolio Buys Q3 2024 → Q4 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▼ STATE STR SPDR S&P 500 ETF T Add +400.0% 31.80% +23.09 STATE STR SPDR S&P 500 ETF T Add +150.0% 17.15% +7.54 NFE New Fortress Energy Inc. New 1.96% +1.96 MSOS Advisorshares Pure US Cann New 1.45% +1.45 APD Air Products & Chemicals Inc. New 0.59% +0.59 RITM Rithm Capital Corp. Add +204.2% 0.69% +0.34 GRPN Groupon Inc. New 0.17% +0.17 TDAY USA Today Co. Inc. Add +149.6% 0.18% +0.06 KINS Kingstone Cos Inc. Add +3.6% 0.37% +0.05 REEAF Ree Automotive Ltd. Class A Add +21.6% 0.75% +0.02 GPGI Gpgi Inc. Add +15.7% 0.23% −0.04 CORZ Core Scientific Inc. Add +15.5% 0.58% −0.04 CECO Ceco Environmental Corp. Add +9.7% 0.73% −0.18 URNM Sprott Uranium Miners ETF Add +30.9% 0.82% −0.27 NVEE NV5 Global Inc. Add +22.8% 1.40% −0.68 ASH Ashland Inc. Add +28.9% 2.40% −0.93 APG Api Group Corp. Add +0.6% 3.33% −1.14 CRH CRH PLC Add +9.2% 4.26% −1.49 FTAI Ftai Aviation Ltd. Add +0.2% 16.67% −5.94
Notes & Other Activity Q3 2024 → Q4 2024 Security Class Change vs Q3 2024 Shares / Principal Value ▼ SABLE OFFSHORE CORP *W EXP 02/14/202 New 21,000 $481K PCTTW Purecycle Techno-CW26 *W EXP 03/17/202 Sold out 49,944 $150Kbefore exit BDMDW Baird Medical Investment -28 *W EXP 10/01/202 New 27,500 $6K XFINW Excelfin Acquisition -CW23 *W EXP 10/25/202 Sold out 27,500 $4Kbefore exit JETAI INC *W EXP 08/10/202 Sold out 15,270 $2Kbefore exit SURGW Surgepays Inc. -CW24 *W EXP 10/22/202 Sold out 98,144 $2Kbefore exit VRMEW Verifyme Inc. -CW25 *W EXP 06/22/202 New 50,764 $1K
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 43 $162.1M ISHARES TR, FTAI, APG, NBIS, CRH Q1 2026 44 $257.3M ISHARES TR, STATE STR SPDR S&P 500 ETF T, FTAI, APG, CRH Q4 2025 46 $117.9M FTAI, STATE STR SPDR S&P 500 ETF T, APG, CRH, KINS Q3 2025 49 $100.1M FTAI, APG, CRH, GFL, KINS Q2 2025 40 $225.3M SPY, ISHARES TR, FTAI, APG, CRH Q1 2025 41 $73.9M FTAI, CRH, APG, NVEE, AVD Q4 2024 40 $180.8M STATE STR SPDR S&P 500 ETF T, STATE STR SPDR S&P 500 ETF T, FTAI, CRH, APG Q3 2024 41 $122.9M FTAI, STATE STR SPDR S&P 500 ETF T, STATE STR SPDR S&P 500 ETF T, FTAI AVIATION LTD, FTAI AVIATION LTD Q2 2024 33 $72.0M FTAI, AVD, APG, CRH, GFL Q1 2024 34 $68.0M FTAI, AVD, APG, CRH, ALIT