Askeladden/Patel Disclose 5.3% Stake in Americas Carmart

AMERICAS CARMART INC reports that Askeladden Capital Management LLC and Samir Patel jointly disclose beneficial ownership of 438,789 shares of Common Stock, representing 5.3% of the class.

Rhea-AI Filing Summary

AMERICAS CARMART INC reports that Askeladden Capital Management LLC and Samir Patel jointly disclose beneficial ownership of 438,789 shares of Common Stock, representing 5.3% of the class. The percentage is calculated using 8,302,450 shares outstanding as of March 9, 2026 per the issuer's Form 10-Q. The filing states the shares are held in separately managed accounts for advisory clients; Askeladden and Mr. Patel report shared voting and dispositive power over the 438,789 shares.

Insights

Governance Analyst

Large passive stake disclosed by an investment adviser and its principal.

The filing shows Askeladden Capital Management LLC and Samir Patel jointly report beneficial ownership of 438,789 shares (5.3%), held in managed accounts. The stake size crosses common reporting thresholds that may attract attention from market participants.

Dependencies include the March 9, 2026 outstanding-share base and the reporting persons' disclaimer about group formation. Subsequent filings would clarify any changes in ownership or intentions.

Regulatory Compliance Specialist

Disclosure aligns with Schedule 13G passive/beneficial ownership reporting conventions.

The statement identifies record ownership via separately managed accounts and attributes shared voting and dispositive power to the reporting persons. It also cites the issuer's Form 10-Q for the outstanding share count used to compute the 5.3% figure.

Material follow-ups would appear if the ownership or intent changes, triggering different reporting obligations under Sections 13(d)/(g).

Key Figures

Reported shares beneficially owned: 438,789 shares Percent of class: 5.3% Shares outstanding (denominator): 8,302,450 shares +2 more

5 metrics

Reported shares beneficially owned 438,789 shares Joint filing by Askeladden Capital Management LLC and Samir Patel

Percent of class 5.3% Calculated using outstanding shares as of March 9, 2026

Shares outstanding (denominator) 8,302,450 shares As of March 9, 2026 per issuer's Form 10-Q

Shared voting power 438,789 shares Cover page Item 6 reports shared voting power

Shared dispositive power 438,789 shares Cover page Item 8 reports shared dispositive power

Key Terms

Schedule 13G, Beneficial ownership, Shared dispositive power, Form 10-Q denominator

4 terms

Schedule 13G regulatory

"This statement is being jointly filed by and on behalf of each of Askeladden Capital Management"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

Beneficial ownership regulatory

"The separately managed accounts on behalf of investment advisory clients ('Managed Accounts') are the record and direct beneficial owners"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Shared dispositive power regulatory

"Shared Dispositive Power 438,789.00"

Form 10-Q denominator regulatory

"based on 8,302,450 shares of Common Stock outstanding as of March 9, 2026"

FAQ

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

What stake does Askeladden Capital report in AMERICAS CARMART (CRMT)?

Askeladden Capital and Samir Patel report beneficial ownership of 438,789 shares, which the filing states equals 5.3% of the class using 8,302,450 shares outstanding as of March 9, 2026. The shares are held in managed accounts for advisory clients.

How was the 5.3% ownership percentage calculated for CRMT?

The percentage is based on 8,302,450 shares outstanding as of March 9, 2026, as reported in the issuer's Form 10-Q for the quarter ended January 31, 2026 and filed March 12, 2026. The filing cites that report as its denominator.

Do Askeladden or Samir Patel have sole voting power over the CRMT shares?

No. The filing shows 0 sole voting power and reports 438,789 as shared voting power and shared dispositive power, indicating collective control over voting and disposition of the shares.

Are the reported CRMT shares held personally by Mr. Patel?

The filing states the shares are record-owned by managed accounts of Askeladden and that Mr. Patel, as Managing Member, may be deemed to beneficially own them. It identifies the holdings as held in advisory Managed Accounts.

What filing date and signature appear on this Schedule 13G for CRMT?

The Schedule 13G is signed by Samir Patel as Managing Member with signature dates of 05/15/2026 on the cover pages. The content references the outstanding-share count dated March 9, 2026.

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

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Accepted by SEC EDGAR 05/15/2026 - 02:38 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

AMERICAS CARMART INC

(Name of Issuer)

Common Stock

(Title of Class of Securities)

03062T105

(CUSIP Number)

04/08/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 03062T105

1

Names of Reporting Persons

ASKELADDEN 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

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 438,789.00
7	Sole Dispositive Power 438,789.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

438,789.00

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)

5.3 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP Number(s): 03062T105

1

Names of Reporting Persons

Samir Patel

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 0.00
6	Shared Voting Power 438,789.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 438,789.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

438,789.00

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)

5.3 %

12

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: AMERICAS CARMART INC
(b)	Address of issuer's principal executive offices: 1805 NORTH 2ND STREET, SUITE 401, ROGERS, ARKANSAS, 72756
Item 2.
(a)	Name of person filing: This statement is being jointly filed by and on behalf of each of Askeladden Capital Management, LLC, a Texas limited liability company ('Askeladden') and Samir Patel. The separately managed accounts on behalf of investment advisory clients ('Managed Accounts') of Askeladden are the record and direct beneficial owners of the securities covered by this statement. As the investment adviser to the Managed Accounts, Askeladden may be deemed to beneficially own the securities covered by this statement. Mr. Patel is the Member of, and may be deemed to beneficially own securities owned by, Askeladden. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Actor any other purpose, the beneficial owner of any securities covered by this statement. Each reporting person may be deemed to be a member of a group with respect to the issuer or securities of the issuer for the purposes of Section 13(d) or 13(g) of the Act. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding, or disposing of securities of the issuer or otherwise with respect to the issuer or any securities of the issuer or (ii) a member of any group with respect to the issuer or any securities of the issuer.
(b)	Address or principal business office or, if none, residence: 1452 Hughes Road, Suite 200 #582 Grapevine, Texas 76051
(c)	Citizenship: See Item 4 on the cover page(s) hereto.
(d)	Title of class of securities: Common Stock
(e)	CUSIP Number(s): 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: See Item 9 on the cover page(s) hereto.
(b)	Percent of class: The percentage calculated in Item 11 is based on 8,302,450 shares of Common Stock outstanding as of March 9, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarter ended January 31, 2026 and as filed with the SEC on March 12, 2026.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 5 on the cover page(s) hereto.
	(ii) Shared power to vote or to direct the vote: See Item 6 on the cover page(s) hereto.
	(iii) Sole power to dispose or to direct the disposition of: See Item 7 on the cover page(s) hereto.
	(iv) Shared power to dispose or to direct the disposition of: See Item 8 on the cover page(s) hereto.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
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.

ASKELADDEN CAPITAL MANAGEMENT LLC

Signature:	/s/ Samir Patel
Name/Title:	Managing Member
Date:	05/15/2026

Samir Patel

Signature:	/s/ Samir Patel
Name/Title:	Managing Member
Date:	05/15/2026