# EDGAR Filing Document

**Accession Number:** 0001216907
**File Stem:** 0001162044-25-000906
**Filing Date:** 2025-8
**Character Count:** 18675
**Document Hash:** 32224e96145fea68928b66d2ba6f0987
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001162044-25-000906.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001162044-25-000906

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BERTOLET CAPITAL TRUST
- **CENTRAL INDEX KEY:** 0001216907

**ORGANIZATION NAME:**
- **EIN:** 061680405
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21291
- **FILM NUMBER:** 251268385

**BUSINESS ADDRESS:**
- **STREET 1:** 745 FIFTH AVE
- **STREET 2:** STE 2400
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10151
- **BUSINESS PHONE:** 212 605 7100

**MAIL ADDRESS:**
- **STREET 1:** 745 FIFTH AVE
- **STREET 2:** STE 2400
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10151

## Series and Classes Contracts Data

### Pinnacle Value Fund (Series ID: S000004888)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000013242 | Pinnacle Value Fund | PVFIX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** BERTOLET CAPITAL TRUST

- **b. Investment Company Act file number:** 811-21291

- **c. CIK number of Registrant:** 0001216907

- **d. LEI of Registrant:** 549300VIVOKDUEPFO698

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 745 Fifth Ave.

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10151

  - **Telephone number:** 212-605-7100

**Item A.2. Information about the Series.**

- **a. Name of Series:** Pinnacle Value Fund

- **b. EDGAR series identifier (if any):** S000004888

- **c. LEI of Series:** 549300HGOX2RHMDP5044

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $34758262.64

**Total Liabilities:** $901606.07

**Net Assets:** $33856656.57

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000013242 | -1.03%               | 0.13%                | 3.95%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $127632.94               | $-495806.83                                |
| Month 2  | $227151.06               | $-213767.58                                |
| Month 3  | $116475.79               | $1116305.89                                |

### Schedule of Portfolio Investments

| Name                                     | Title                                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AerSale Corp.                            | AerSale Corp.                                                | CUSIP: 00810F106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    133505 | NS      | $802365.05    | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| AstroNova, Inc.                          | AstroNova, Inc.                                              | CUSIP: 04638F108<br>LEI: 549300TTZ4UNDNBOW441 | Long             | EC               | CORP              | US        |      6183 | NS      | $71660.97     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Barings Participation Investor           | Barings Participation Investors                              | CUSIP: 06761A103<br>LEI: 549300BL6L2WBLZ3L146 | Long             | EC               | RF                | US        |      4378 | NS      | $88041.58     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Benchmark Electronics, Inc.              | Benchmark Electronics, Inc.                                  | CUSIP: 08160H101<br>LEI: 549300W18RHYZOZKOP53 | Long             | EC               | CORP              | US        |      3000 | NS      | $116490.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristow Group, Inc.                      | Bristow Group, Inc.                                          | CUSIP: 11040G103<br>LEI: 5493005Q24EN3UC1PV68 | Long             | EC               | CORP              | US        |     34064 | NS      | $1123090.08   | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Coda Octopus Group, Inc.                 | Coda Octopus Group, Inc.                                     | CUSIP: 19188U206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     65391 | NS      | $534898.38    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Cohu, Inc.                               | Cohu, Inc.                                                   | CUSIP: 192576106<br>LEI: 529900FJPORJ3JJ2XS33 | Long             | EC               | CORP              | US        |      5918 | NS      | $113862.32    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Crafts, Inc.                       | Crown Crafts, Inc.                                           | CUSIP: 228309100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     61442 | NS      | $176338.54    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Culp, Inc.                               | Culp, Inc.                                                   | CUSIP: 230215105<br>LEI: 549300BIJZDD8EVS1U89 | Long             | EC               | CORP              | US        |    328122 | NS      | $1289519.46   | 3.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Diodes, Inc.                             | Diodes, Inc.                                                 | CUSIP: 254543101<br>LEI: 549300XP2X1ARVH3BX23 | Long             | EC               | CORP              | US        |      8416 | NS      | $445122.24    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Dorian LPG Ltd.                          | Dorian LPG Ltd.                                              | CUSIP: Y2106R110<br>LEI: 549300WP1W2WGMC7F395 | Long             | EC               | CORP              | MH        |     15570 | NS      | $379596.60    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Ethan Allen Interiors, Inc.              | Ethan Allen Interiors, Inc.                                  | CUSIP: 297602104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5053 | NS      | $140726.05    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Federated Hermes Money Market Obligation | Federated Government Obligations Fund - Institutional Shares | CUSIP: 60934N104<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  10874701 | NS      | $10874700.93  | 32.12%            |  |  |  | No            |                  1 | On Loan: No      |
| First Acceptance Corp.                   | First Acceptance Corp.                                       | CUSIP: 318457108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    242498 | NS      | $785693.52    | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Flexsteel Industries, Inc.               | Flexsteel Industries, Inc.                                   | CUSIP: 339382103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1234 | NS      | $44461.02     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Friedman Industries, Inc.                | Friedman Industries, Inc.                                    | CUSIP: 358435105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13031 | NS      | $215793.36    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Graham Corp.                             | Graham Corp.                                                 | CUSIP: 384556106<br>LEI: 254900EI9P4LTY524J77 | Long             | EC               | CORP              | US        |      2057 | NS      | $101842.07    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Gulf Island Fabrication, Inc.            | Gulf Island Fabrication, Inc.                                | CUSIP: 402307102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    422613 | NS      | $2810376.45   | 8.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Heartland Express, Inc.                  | Heartland Express, Inc.                                      | CUSIP: 422347104<br>LEI: 5299005V45FZIQGLOG39 | Long             | EC               | CORP              | US        |     43801 | NS      | $378440.64    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Hooker Furnishings Corp.                 | Hooker Furnishings Corp.                                     | CUSIP: 439038100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21537 | NS      | $227861.46    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Hope Bancorp, Inc.                       | Hope Bancorp, Inc.                                           | CUSIP: 43940T109<br>LEI: 549300UTF4QGMBHIZ219 | Long             | EC               | CORP              | US        |     11007 | NS      | $118105.11    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Hurco Cos., Inc.                         | Hurco Cos., Inc.                                             | CUSIP: 447324104<br>LEI: XSC5XDOTBYOBQPOG2O82 | Long             | EC               | CORP              | US        |    106050 | NS      | $2004345.00   | 5.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingles Markets, Inc.                     | Ingles Markets, Inc.                                         | CUSIP: 457030104<br>LEI: 549300XH5RYBMYP8TF26 | Long             | EC               | CORP              | US        |     18724 | NS      | $1186727.12   | 3.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Innospec, Inc.                           | Innospec, Inc.                                               | CUSIP: 45768S105<br>LEI: 213800SQBACNY5IWJO68 | Long             | EC               | CORP              | US        |      1628 | NS      | $136898.52    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| OP Bancorp                               | OP Bancorp                                                   | CUSIP: 67109R109<br>LEI: 549300WOJCNL7B110W30 | Long             | EC               | CORP              | US        |     44936 | NS      | $583718.64    | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Flex, Inc.                         | Omega Flex, Inc.                                             | CUSIP: 682095104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10957 | NS      | $354787.66    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| PCB Bancorp                              | PCB Bancorp                                                  | CUSIP: 69320M109<br>LEI: 549300E5CI0LZ8Q25890 | Long             | EC               | CORP              | US        |     25757 | NS      | $540381.86    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| PetMed Express, Inc.                     | PetMed Express, Inc.                                         | CUSIP: 716382106<br>LEI: 529900PGHW5ASJ1AZL48 | Long             | EC               | CORP              | US        |     31538 | NS      | $104706.16    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Seacor Marine Holdings, Inc.             | Seacor Marine Holdings, Inc.                                 | CUSIP: 78413P101<br>LEI: 5493003LNKFW1W43N030 | Long             | EC               | CORP              | US        |    129801 | NS      | $661985.10    | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabine Royalty Trust                     | Sabine Royalty Trust                                         | CUSIP: 785688102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5441 | NS      | $362805.88    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Seaboard Corp.                           | Seaboard Corp.                                               | CUSIP: 811543107<br>LEI: 87Q3KOXT29OW9W9YPT70 | Long             | EC               | CORP              | US        |       410 | NS      | $1173092.00   | 3.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Seadrill Ltd.                            | Seadrill Ltd.                                                | CUSIP: G7998G106<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |      2000 | NS      | $52500.00     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Shoe Carnival, Inc.                      | Shoe Carnival, Inc.                                          | CUSIP: 824889109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38190 | NS      | $714534.90    | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprott ETF Trust                         | Sprott Gold Miners ETF                                       | CUSIP: 85210B102<br>LEI: 549300OKHNEZHZWQ1S48 | Long             | EC               | RF                | US        |      4500 | NS      | $203580.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprott ETF Trust                         | Sprott Junior Gold Miners ETF                                | CUSIP: 85210B201<br>LEI: N/A                  | Long             | EC               | RF                | US        |      3822 | NS      | $190026.40    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| StealthGas, Inc.                         | StealthGas, Inc.                                             | CUSIP: Y81669106<br>LEI: 549300JCJUO3WBVVKJ89 | Long             | EC               | CORP              | MH        |    127217 | NS      | $815460.97    | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Stepan Co.                               | Stepan Co.                                                   | CUSIP: 858586100<br>LEI: IZU1EW9GB3WC7CYCSR17 | Long             | EC               | CORP              | US        |      2723 | NS      | $148621.34    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| The Buckle, Inc.                         | The Buckle, Inc.                                             | CUSIP: 118440106<br>LEI: 5299007IU0461T3GDL34 | Long             | EC               | CORP              | US        |     13729 | NS      | $622610.15    | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Tri Pointe Group, Inc.                   | Tri Pointe Homes, Inc.                                       | CUSIP: 87265H109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2000 | NS      | $63900.00     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultralife Corp.                          | Ultralife Corp.                                              | CUSIP: 903899102<br>LEI: 529900NVAFLKA00F3U05 | Long             | EC               | CORP              | US        |      8133 | NS      | $73034.34     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Unifi, Inc.                              | Unifi, Inc.                                                  | CUSIP: 904677200<br>LEI: 549300MW5LPO0M2LNO04 | Long             | EC               | CORP              | US        |    363921 | NS      | $1899667.62   | 5.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Werner Enterprises, Inc.                 | Werner Enterprises, Inc.                                     | CUSIP: 950755108<br>LEI: 549300P6XRGOCHHJST37 | Long             | EC               | CORP              | US        |       200 | NS      | $5472.00      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyco Group, Inc.                        | Weyco Group, Inc.                                            | CUSIP: 962149100<br>LEI: 549300I10J38MHJELM87 | Long             | EC               | CORP              | US        |     36678 | NS      | $1216242.48   | 3.59%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** Bertolet Capital Trust

**Signature:** /s/ John E. Deysher

**Name of Signer:** John E. Deysher

**Title:** President and Treasurer