Cruiser Capital Advisors, LLC In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Cruiser Capital Advisors, LLC reported 40 stock positions worth $225.3 million . Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 51.5% of the portfolio, followed by iShares TR (12.5% ) and Ftai Aviation (FTAI, 9.7% ). Compared with Q1 2025, it opened 10 new positions, sold out of 11, added to 8 and reduced 9. The biggest buy was a new position in SS SPDR S&P 500 ETF Trust-US (SPY) and the biggest sale Ftai Aviation (FTAI, shares −4% ).
Location Stamford, CT
CIK 0001713506
Portfolio Value $225.3M (Q2 2025) Holdings 40 stocks · $225.3M 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 Q1 2025 SPY SS SPDR S&P 500 ETF Trust-US 2,000 $116.0M New ISHARES TR 3,500 $28.3M New FTAI Ftai Aviation Ltd. 189,442 $21.8M Reduce -4.2% APG Api Group Corp. 167,151 $8.5M No change CRH CRH PLC 72,791 $6.7M Reduce -12.5% GFL GFL Environmental Inc.-Sub VT 113,902 $5.5M Add +201.7% NVEE NV5 Global Inc. 203,187 $4.7M Add +11.0% KINS Kingstone Cos Inc. 233,017 $3.6M Add +109.1% AVD American Vanguard Corp. 789,284 $3.3M No change FIP Ftai Infrastructure Inc. 481,904 $3.0M Add +18.5% GREEN DOT CORP 2,000 $2.5M New NBIS Nebius Group NV 41,900 $2.3M Add +7.7% ORN Orion Group Holdings Inc. 234,003 $2.1M Reduce -10.1% APD Air Products & Chemicals Inc. 6,574 $1.9M No change GECC Great Elm Capital Corp. 142,259 $1.5M Add +0.7% AGM Federal Agric MTG Corp. Class C 7,749 $1.5M No change AMRZ Amrize Ltd. 27,000 $1.3M New CORZ Core Scientific Inc. 61,863 $1.1M New NN Nextnav Inc. 68,854 $1.0M Add +17.0% FTAI INFRASTRUCTURE INC 2,000 $1.0M New KINGSTONE COS INC 500 $875K New GDOT Green Dot Corp. Class A 70,250 $757K New ALIT Alight Inc. Class A 131,206 $743K Reduce -71.8% RITM Rithm Capital Corp. 61,100 $690K Reduce -32.9% QXO Qxo Inc. 10,000 $620K New MOD Modine Manufacturing Co. 5,000 $493K No change URNM Sprott Uranium Miners ETF 10,000 $479K Reduce -86.1% PENN Penn Entertainment Inc. 25,000 $447K No change PBI Pitney Bowes Inc. 37,906 $414K Add +17.3% GTLS Chart Industries Inc. 2,200 $362K Reduce -57.7% MSOS Advisorshares Pure US Cann 147,600 $356K Reduce -50.8% SKIL Skillsoft Corp. 20,813 $332K No change TDAY USA Today Co. Inc. filed as GANNETT CO INC 66,075 $237K No change ACR Acres Commercial Realty Corp. 11,742 $211K No change GPGI Gpgi Inc. filed as COMPOSECURE INC 13,876 $196K Reduce -49.6% STIM Neuronetics Inc. 50,000 $175K No change INVE Inve Technologies Inc. filed as IDENTIV INC 41,778 $136K No change OEC Orion SA 11,000 $115K No change PERI Perion Network Ltd. 10,000 $102K New SEQLL INC 70,000 $337 No change
Other holdings (9): bonds, preferreds, convertibles and warrants · $315K (not counted above) Security Class Shares / Principal Value Change SABLE OFFSHORE CORP *W EXP 02/14/202 11,365 $250K Reduce -40.2% RSVRW Reservoir Media-CW26 *W EXP 08/26/202 30,503 $38K No change PHYWF PHYT WS -CW *W EXP 05/03/202 37,500 $17K No change SCLXW Vickers Vantage Corp. I -CW27 *W EXP 11/10/202 49,999 $5K No change BDMDW Baird Medical Investment -28 *W EXP 10/01/202 27,500 $2K No change MSAIW Sportsmap Tech Acq -CW27 *W EXP 12/19/202 37,500 $1K No change ICUCW LMF Acquisition Opp -A -CW26 *W EXP 10/28/202 32,473 $648 No change AEAEW Altenergy Acquisition -CW23 *W EXP 10/29/202 20,000 $539 No change BENFW Beneficient Co. Group -28 *W EXP 06/07/202 48,750 $336 No change
Total filed on the 13F, all lines: $225.6M.
Portfolio Sells Q1 2025 → Q2 2025 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 Q1 2025 % Of Portfolio Change To Portfolio ▲ FTAI Ftai Aviation Ltd. Reduce -4.2% 9.68% −20.03 CRH CRH PLC Reduce -12.5% 2.97% −6.93 FTAI AVIATION LTD Sold out 0.00% −3.60 ALIT Alight Inc. Class A Reduce -71.8% 0.33% −3.40 NFE New Fortress Energy Inc. Sold out 0.00% −2.66 NEW FORTRESS ENERGY INC Sold out 0.00% −1.89 MSOS Advisorshares Pure US Cann Reduce -50.8% 0.16% −1.87 CECO Ceco Environmental Corp. Sold out 0.00% −1.53 URNM Sprott Uranium Miners ETF Reduce -86.1% 0.21% −1.42 RITM Rithm Capital Corp. Reduce -32.9% 0.31% −1.10 FSK FS KKR Capital Corp. Sold out 0.00% −0.99 REEAF Ree Automotive Ltd. Class A Sold out 0.00% −0.97 ORN Orion Group Holdings Inc. Reduce -10.1% 0.94% −0.90 GTLS Chart Industries Inc. Reduce -57.7% 0.16% −0.85 GRPN Groupon Inc. Sold out 0.00% −0.63 CXT Crane NXT Co. Sold out 0.00% −0.54 GPGI Gpgi Inc. Reduce -49.6% 0.09% −0.32 BCIC BCP Investment Corp. Sold out 0.00% −0.26 EHAB Enhabit Inc. Sold out 0.00% −0.25 PL Planet Labs PBC Sold out 0.00% −0.05
Portfolio Buys Q1 2025 → Q2 2025 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 Q1 2025 % Of Portfolio Change To Portfolio ▼ SPY SS SPDR S&P 500 ETF Trust-US New 51.48% +51.48 ISHARES TR New 12.55% +12.55 GFL GFL Environmental Inc.-Sub VT Add +201.7% 2.45% +2.00 GREEN DOT CORP New 1.11% +1.11 AMRZ Amrize Ltd. New 0.59% +0.59 CORZ Core Scientific Inc. New 0.47% +0.47 FTAI INFRASTRUCTURE INC New 0.44% +0.44 KINGSTONE COS INC New 0.39% +0.39 GDOT Green Dot Corp. Class A New 0.34% +0.34 QXO Qxo Inc. New 0.28% +0.28 PERI Perion Network Ltd. New 0.05% +0.05 NBIS Nebius Group NV Add +7.7% 1.03% −0.08 PBI Pitney Bowes Inc. Add +17.3% 0.18% −0.21 NN Nextnav Inc. Add +17.0% 0.46% −0.50 KINS Kingstone Cos Inc. Add +109.1% 1.59% −0.92 FIP Ftai Infrastructure Inc. Add +18.5% 1.32% −1.18 GECC Great Elm Capital Corp. Add +0.7% 0.67% −1.27 NVEE NV5 Global Inc. Add +11.0% 2.08% −2.69
Notes & Other Activity Q1 2025 → Q2 2025 Security Class Change vs Q1 2025 Shares / Principal Value ▼ SABLE OFFSHORE CORP *W EXP 02/14/202 Reduce -40.2% 11,365 $250K
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