In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 6, 2025), Towerview LLC reported 24 stock positions worth $139.0 million . Its top holding was Tejon Ranch (TRC) at 43.9% of the portfolio, followed by Stealthgas (GASS, 11.3% ) and Saga Communications Class A (SGA, 10.4% ). Compared with Q4 2024, it opened 3 new positions, sold out of 2, added to 8 and reduced 4. The biggest buy was a new position in Acelyrin (SLRN) and the biggest sale Alico (ALCO, shares −47% ).
Location NEW YORK, NY
CIK 0001166573
Portfolio Value $139.0M (Q1 2025) Holdings 24 stocks · $139.0M 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 Q4 2024 TRC Tejon Ranch Co. 3,845,500 $61.0M No change GASS Stealthgas Inc. 2,770,000 $15.7M Add +0.3% SGA Saga Communications Inc. Class A 1,161,144 $14.5M No change ACI Albertsons Cos Inc. Class A 620,000 $13.6M Reduce -1.6% SIRI Sirius XM Holdings Inc. 335,300 $7.6M No change LE Lands' End Inc. 420,000 $4.3M Add +28.2% ALCO Alico Inc. 115,000 $3.4M Reduce -46.6% GYRO Gyrodyne LLC 340,996 $2.8M No change ALMS Alumis Inc. 430,000 $2.6M Add +3.6% SRG Seritage Growth Prop- A 680,000 $2.2M No change X United States Steel Corp. 45,000 $1.9M Reduce -30.8% LWAY Lifeway Foods Inc. 72,500 $1.8M Add +107.1% OABI Omniab Inc. 580,000 $1.4M Add +5.5% SLRN Acelyrin Inc. 540,000 $1.3M New WBD Warner Bros Discovery Inc. 100,000 $1.1M No change IMPP Imperial Petroleum Inc. 415,000 $1.0M Add +15.3% CTRM Castor Maritime Inc. 240,000 $547K No change MRP Millrose Properties 20,000 $530K New CTLP Cantaloupe Inc. 62,500 $492K Reduce -39.0% QS Quantumscape Corp. 100,000 $416K No change CRVS Corvus Pharmaceuticals Inc. 127,500 $405K Add +64.5% WEN The Wendy's Co. 14,500 $212K Add +20.8% JBGS JBG Smith Properties 10,000 $161K No change C3IS INC 180,913 $118K New
Portfolio Sells Q4 2024 → Q1 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 Q4 2024 % Of Portfolio Change To Portfolio ▲ ALCO Alico Inc. Reduce -46.6% 2.47% −1.54 CTLP Cantaloupe Inc. Reduce -39.0% 0.35% −0.35 X United States Steel Corp. Reduce -30.8% 1.37% −0.22 WBA Walgreens Boots Alliance Inc. Sold out 0.00% −0.20 C3IS INC Sold out 0.00% −0.13 ACI Albertsons Cos Inc. Class A Reduce -1.6% 9.81% +0.92
Portfolio Buys Q4 2024 → Q1 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 Q4 2024 % Of Portfolio Change To Portfolio ▼ SLRN Acelyrin Inc. New 0.96% +0.96 LWAY Lifeway Foods Inc. Add +107.1% 1.28% +0.65 MRP Millrose Properties New 0.38% +0.38 C3IS INC New 0.08% +0.08 GASS Stealthgas Inc. Add +0.3% 11.26% +0.05 WEN The Wendy's Co. Add +20.8% 0.15% +0.01 CRVS Corvus Pharmaceuticals Inc. Add +64.5% 0.29% −0.01 LE Lands' End Inc. Add +28.2% 3.08% −0.02 IMPP Imperial Petroleum Inc. Add +15.3% 0.73% −0.05 OABI Omniab Inc. Add +5.5% 1.00% −0.40 ALMS Alumis Inc. Add +3.6% 1.90% −0.44
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ UNITED STATES STL CORP NEW call Sold out 350 $131Kbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 16 $152.5M TRC, GASS, ACI, SGA, LE Q1 2026 15 $154.8M TRC, GASS, SGA, ACI, SIRI Q4 2025 15 $137.8M TRC, GASS, SGA, ACI, SIRI Q3 2025 16 $137.4M TRC, GASS, SGA, ACI, SIRI Q2 2025 20 $140.3M TRC, GASS, SGA, ACI, SIRI Q1 2025 24 $139.0M TRC, GASS, SGA, ACI, SIRI Q4 2024 23 $139.2M TRC, GASS, SGA, ACI, SIRI Q3 2024 25 $154.9M TRC, GASS, SGA, ACI, SIRI Q2 2024 26 $152.6M TRC, SGA, GASS, ACI, LSXMK Q1 2024 26 $150.7M TRC, SGA, GASS, ACI, SRG