Americas Car-Mart: Magnolia Group Reports 1.43M Shares

Rhea-AI Filing Summary

Magnolia Capital Fund, LP, The Magnolia Group, LLC and Adam K. Peterson report beneficial ownership of 1,428,094 shares of Americas Car-Mart Inc. common stock, representing 17.3% of the class. The shares are held directly by Magnolia Capital Fund; The Magnolia Group is identified as the general partner and Mr. Peterson as the managing member.

The filing states each reporting person has sole voting and dispositive power over the 1,428,094 shares while The Magnolia Group and Mr. Peterson disclaim beneficial ownership. It also certifies the securities were acquired and are held in the ordinary course of business and were not acquired to change or influence control of the issuer.

Positive

• Material disclosure of ownership: Reports ownership of 1,428,094 shares, equal to 17.3% of the class.
• Declared sole voting and dispositive power: Each reporting person reports sole voting and sole dispositive power over the reported shares.
• Ordinary-course certification: Reporting persons certify the securities were acquired and are held in the ordinary course of business and not to influence control.

Negative

• Concentrated position: A single related group holds 17.3% of the class, representing a large ownership concentration in CRMT.
• Beneficial ownership nuance: The Magnolia Group and Adam K. Peterson may be deemed indirect beneficial owners but explicitly disclaim beneficial ownership, which complicates straightforward control attribution.

Insights

Securities Analyst

TL;DR: Magnolia reports a materially large passive stake—1,428,094 shares (17.3%)—in Americas Car-Mart, disclosed as held in the ordinary course.

The Schedule 13G/A discloses a significant 17.3% position held directly by Magnolia Capital Fund with sole voting and dispositive power reported for the three related reporting persons. The filing includes an ordinary-course certification, indicating a passive stance per the statement. For investors, this is a material ownership disclosure that increases transparency about shareholder concentration; the filing does not state any plans or intentions to change control.

Corporate Governance Expert

TL;DR: A single related group reports sole voting/dispositive authority over a large 17.3% stake, while disclaimers create nuance around direct beneficial ownership.

From a governance perspective, the filing identifies Magnolia Capital Fund as the direct holder and names The Magnolia Group and Adam K. Peterson as related decision-makers who may exercise voting or dispositive power but disclaim beneficial ownership. That duality is explicit in the statement and relevant when assessing potential influence, board engagement, or voting outcomes, though the filing affirms a passive, ordinary-course holding.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

America's Car-Mart Inc.

(Name of Issuer)

Common Stock, Par Value $0.01 per share

(Title of Class of Securities)

03062T105

(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. 03062T105

1

Names of Reporting Persons

Magnolia Capital Fund, LP

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,428,094.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,428,094.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,428,094.00

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)

17.3 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 03062T105

1

Names of Reporting Persons

The Magnolia Group, 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

NEBRASKA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,428,094.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,428,094.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,428,094.00

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)

17.3 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 03062T105

1

Names of Reporting Persons

Adam K. Peterson

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 1,428,094.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,428,094.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,428,094.00

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)

17.3 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: America's Car-Mart Inc.
(b)	Address of issuer's principal executive offices: 1805 NORTH 2ND STREET, SUITE 401, ROGERS, AR, 72756
Item 2.
(a)	Name of person filing: This Schedule 13G is being jointly filed by Magnolia Capital Fund, LP ("MCF"), The Magnolia Group, LLC ("TMG"), a registered investment adviser, and Adam K. Peterson (each a "Reporting Person" and, collectively, the "Reporting Persons") with respect to shares of the common stock, $0.01 par value of the Issuer (the, "Common Stock") owned directly by MCF. TMG is the general partner of MCF. Mr. Peterson is the managing member of TMG. TMG and Mr. Peterson may each exercise voting and dispositive power over the Common Stock held by MCF and, as a result, may be deemed to be indirect beneficial owners of shares of Common Stock held by MCF. TMG and Mr. Peterson disclaim beneficial ownership of the Common Stock.
(b)	Address or principal business office or, if none, residence: 1601 Dodge Street, Suite 3300, Omaha, NE 68102
(c)	Citizenship: MCF is a Delaware limited partnership. TMG is a Nebraska limited liability company and registered investment adviser. Mr. Peterson is a U.S. citizen.
(d)	Title of class of securities: Common Stock, Par Value $0.01 per share
(e)	CUSIP No.: 03062T105
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: (i) MCF - 1,428,094 (ii) TMG - 1,428,094 (iii) Mr. Peterson - 1,428,094
(b)	Percent of class: 17.3 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: (i) MCF - 1,428,094 (ii) TMG - 1,428,094 (iii) Mr. Peterson - 1,428,094
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: (i) MCF - 1,428,094 (ii) TMG - 1,428,094 (iii) Mr. Peterson - 1,428,094
	(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.

Magnolia Capital Fund, LP

Signature:	/s/ Adam K. Peterson
Name/Title:	Adam K. Peterson, Manager
Date:	08/14/2025

The Magnolia Group, LLC

Signature:	/s/ Adam K. Peterson
Name/Title:	Adam K. Peterson, Manager
Date:	08/14/2025

Adam K. Peterson

Signature:	/s/ Adam K. Peterson
Name/Title:	Adam K. Peterson
Date:	08/14/2025

Exhibit Information

Joint Filing Agreement, dated as of August 14, 2025, by and between Magnolia Capital Fund, LP, The Magnolia Group, LLC, and Adam K. Peterson.

FAQ

How many CRMT shares does Magnolia report owning?

The filing reports 1,428,094 shares, representing 17.3% of the class.

Who are the reporting persons in this Schedule 13G/A for CRMT?

The reporting persons are Magnolia Capital Fund, LP, The Magnolia Group, LLC, and Adam K. Peterson.

Does the filing indicate voting or dispositive power over the reported shares?

Yes. Each reporting person reports sole voting power and sole dispositive power over the 1,428,094 shares.

Does the filing state any intent to influence control of America's Car-Mart (CRMT)?

The reporting persons certify the securities were acquired and are held in the ordinary course of business and were not acquired to change or influence control of the issuer.

Is the ownership shown held directly or indirectly?

The shares are held directly by Magnolia Capital Fund, LP; The Magnolia Group is the general partner of MCF and Mr. Peterson is its managing member, and they may be deemed indirect owners but disclaim beneficial ownership.