Gate City Discloses 14.7% Stake in Alico (ALCO) — 1.13M Shares

Gate City Capital Management, LLC and its managing member Michael Melby reported beneficial ownership of 1,126,553 common shares of Alico, Inc., representing 14.7% of the class.

Accepted by SEC EDGAR 08/14/2025 - 09:46 AM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Gate City Capital Management, LLC and its managing member Michael Melby reported beneficial ownership of 1,126,553 common shares of Alico, Inc., representing 14.7% of the class. The filing covers shares held by funds advised by the Management Company and shows sole voting and sole dispositive power over those shares, with no shared voting or dispositive power reported. The Schedule 13G states the holdings were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control. The filing references an event date of 06/30/2025 and was signed on 08/14/2025. The issuer's principal office is listed in Fort Myers, Florida.

Positive

• Material ownership disclosed: Gate City holds 1,126,553 shares, representing 14.7% of Alico's common stock
• Sole voting and dispositive power: Reporting shows Gate City has sole authority to vote and dispose of the reported shares
• Passive status declared: Filed on Schedule 13G indicating the holders state the position is held in the ordinary course and not to influence control

Negative

• None.

Insights

Financial Analyst

TL;DR: Gate City reports a material 14.7% passive stake (1.13M shares) in Alico, signaling a significant investor position without claimed intent to influence control.

Gate City Capital Management and Michael Melby disclose beneficial ownership of 1,126,553 Alico shares, equal to 14.7% of the outstanding class. The filing is on Schedule 13G, which indicates a passive investment profile rather than an activist intent. The reporting shows sole voting and dispositive power, which means Gate City can direct votes and dispositions for these shares. For investors, the key implication is the presence of a large, non-activist holder that could nonetheless influence outcomes through voting if positions change.

Corporate Governance Expert

TL;DR: A 14.7% holder with sole voting power is material to governance, but the Schedule 13G filing indicates a passive stance, limiting immediate governance risk.

The Schedule 13G classification signals that Gate City and Michael Melby consider the stake passive and not intended to change or influence control. Nonetheless, reporting of sole voting power over a near-15% block is governance-relevant because such a holder can affect shareholder votes if their posture changes. The certification language affirms ordinary-course holding; there is no disclosed agreement, group, or shared control, and no subsidiary acquisitions or group affiliations are reported.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many Alico (ALCO) shares does Gate City Capital report owning?

The filing reports 1,126,553 shares of Alico common stock.

What percentage of Alico does Gate City Capital's holding represent?

The reported ownership represents 14.7% of Alico's common stock.

Does Gate City have voting control over the reported ALCO shares?

Yes. The filing shows sole voting power and sole dispositive power for the 1,126,553 shares.

Was the ownership reported as passive or activist in the filing?

The Schedule 13G states the shares are held in the ordinary course of business and were not acquired to change or influence control (passive).

What are the relevant dates on the filing for ALCO?

The event date requiring the filing is 06/30/2025 and the document is signed on 08/14/2025.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

Alico, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

016230104

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 016230104

1

Names of Reporting Persons

Gate City Capital Management, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ILLINOIS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,126,553.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,126,553.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,126,553.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

14.7 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 016230104

1

Names of Reporting Persons

Michael Melby

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,126,553.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,126,553.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,126,553.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

14.7 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: This Schedule 13G (this "Schedule 13G") is being filed on behalf of Gate City Capital Management, LLC, an Illinois limited liability company (the "Management Company") and Michael Melby. Mr. Melby serves as the managing member of the Management Company. The Management Company serves as an adviser to certain private investment funds and managed accounts (the "Funds"). This Schedule 13G relates to Common Shares (the "Common Shares") of the Issuer held by the Funds.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Alico, Inc.
(b)	Address of issuer's principal executive offices: 10070 Daniels Interstate Court Suite, Suite 100, Fort Myers, FL 33913
Item 2.
(a)	Name of person filing: Gate City Capital Management, LLC
(b)	Address or principal business office or, if none, residence: 8725 W. Higgins Road, Suite 530, Chicago, IL 60631
(c)	Citizenship: United States
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 016230104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 1126553
(b)	Percent of class: 14.7%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1126553
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 1126553
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Gate City Capital Management, LLC

Signature:	/s/ Michael Melby
Name/Title:	Michael Melby
Date:	08/14/2025

Michael Melby

Signature:	/s/ Michael Melby
Name/Title:	Managing Member
Date:	08/14/2025