<SEC-DOCUMENT>0001437749-25-003467.txt : 20250211
<SEC-HEADER>0001437749-25-003467.hdr.sgml : 20250211
<ACCEPTANCE-DATETIME>20250211192828
ACCESSION NUMBER:		0001437749-25-003467
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250211
DATE AS OF CHANGE:		20250211

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NATURAL ALTERNATIVES INTERNATIONAL INC
		CENTRAL INDEX KEY:			0000787253
		STANDARD INDUSTRIAL CLASSIFICATION:	MEDICINAL CHEMICALS & BOTANICAL PRODUCTS [2833]
		ORGANIZATION NAME:           	03 Life Sciences
		IRS NUMBER:				841007839
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-37736
		FILM NUMBER:		25611457

	BUSINESS ADDRESS:	
		STREET 1:		1535 FARADAY AVENUE
		CITY:			CARLSBAD
		STATE:			CA
		ZIP:			92008-7319
		BUSINESS PHONE:		7607367700

	MAIL ADDRESS:	
		STREET 1:		1535 FARADAY AVENUE
		CITY:			CARLSBAD
		STATE:			CA
		ZIP:			92008-7319

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN ACQUISITIONS INC
		DATE OF NAME CHANGE:	19860929

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CALDWELL SUTTER CAPITAL, INC.
		CENTRAL INDEX KEY:			0000702007
		ORGANIZATION NAME:           	
		IRS NUMBER:				942799654
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		30 LIBERTY SHIP WAY #3225
		CITY:			SAUSALITO
		STATE:			CA
		ZIP:			94965-3324
		BUSINESS PHONE:		415-367-4981

	MAIL ADDRESS:	
		STREET 1:		PO BOX 190
		CITY:			SAUSALITO
		STATE:			CA
		ZIP:			94966-0190

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CALDWELL SECURITIES, INC
		DATE OF NAME CHANGE:	20100708

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CALDWELL SECURITIES, INCORPORATED
		DATE OF NAME CHANGE:	20041201

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CALDWELL SECURITIES INC                                 /BD
		DATE OF NAME CHANGE:	19820422
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <previousAccessionNumber>0001851734-23-000057</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0000702007</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>


    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>2</amendmentNo>
      <securitiesClassTitle>Common Stock, $0.01 par value per share</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>12/31/2024</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0000787253</issuerCik>
        <issuerName>NATURAL ALTERNATIVES INTERNATIONAL INC</issuerName>
        <issuerCusip>638842302</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>1535 FARADAY AVENUE</com:street1>
          <com:city>CARLSBAD</com:city>
          <com:stateOrCountry>CA</com:stateOrCountry>
          <com:zipCode>92008-7319</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>CALDWELL SUTTER CAPITAL, INC.</reportingPersonName>
      <citizenshipOrOrganization>CA</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>460638.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>460638.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>7.4</classPercent>
      <typeOfReportingPerson>BD</typeOfReportingPerson>
      <typeOfReportingPerson>IA</typeOfReportingPerson>
      <comments>Represents the aggregate number of shares of common stock, par value $0.01 (Common Stock), of the Issuer (the Shares), held by certain advisory clients of Caldwell Sutter Capital, Inc. (Caldwell Sutter), a broker dealer and investment advisor registered under Section 203 of the Investment Advisors Act of 1940. As an investment advisor, Caldwell Sutter has limited power of attorney to execute transactions on behalf its clients, and may be deemed to have dispositive power and be the beneficial owner of the Shares reported herein. No advisor of Caldwell Sutter has voting authority over such Shares, other than Shares any individual advisor may hold in their own accounts.

Based on 6,198,778 shares of Common Stock outstanding as of November 13, 2024, as reported in the Issuer's Quarterly Report on Form 10-Q filed November 13, 2024.
</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Joseph F. Helmer</reportingPersonName>
      <citizenshipOrOrganization>CA</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>19811.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>19811.00</soleDispositivePower>
        <sharedDispositivePower>460638.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>480449.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>7.8</classPercent>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
      <typeOfReportingPerson>IA</typeOfReportingPerson>
      <comments>Represents 460,638 shares held in client accounts managed by Caldwell Sutter. As President of Cadwell Sutter and an investment advisor to Caldwell Sutter, Mr. Helmer may be deemed to possess investment power and to be the beneficial owner over the shares reported herein.

Based on 6,198,778 shares of Common Stock outstanding as of November 13, 2024, as reported in the Issuer's Quarterly Report on Form 10-Q filed November 13, 2024.
</comments>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>NATURAL ALTERNATIVES INTERNATIONAL INC</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>1535 FARADAY AVENUE, CARLSBAD, CALIFORNIA, 92008-7319.</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>This Schedule 13G is being filed by:

(1)         Caldwell Sutter Capital, Inc., a California corporation, Broker Dealer and registered Investment Advisor (?Caldwell Sutter?); and

(2)         Joseph F. Helmer, a United States Citizen (together with Caldwell Sutter, the ?Reporting Persons?).
</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>The address of the principal business office of the Reporting Persons is 30 Liberty Ship Way #3225, Sausalito, CA 94965-3324</principalBusinessOfficeOrResidenceAddress>
        <citizenship>See Item 2(a).</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>BD</typeOfPersonFiling>
        <typeOfPersonFiling>IA</typeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>Caldwell Sutter, a broker dealer and investment advisor registered under Section 203 of the Investment Advisors Act of 1940, serves as the investment manager for a number of managed accounts with respect to which it has dispositive authority over the shares held therein, and therefore may be deemed to be the beneficial owner of the shares held in such client accounts. As President of, and an investment manager to, Caldwell Sutter, and in addition to shares held directly, Joseph F. Helmer may be deemed to be the beneficial owner of the shares held by clients in accounts managed by Caldwell Sutter.

Caldwell Sutter Capital, Inc.  Amount beneficially owned: 460,638

Joseph F. Helmer Amount beneficially owned: 480,449</amountBeneficiallyOwned>
        <classPercent>The percentage of class is based on 6,198,778 shares of Common Stock outstanding as of November 13, 2024, as reported in the Issuer's Quarterly Report on Form 10-Q filed November 13, 2024.

Caldwell Sutter Capital, Inc.  Percent of class: 7.4%

Joseph F. Helmer Percent of class: 7.8%
</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>Caldwell Sutter Capital, Inc.  0

Joseph F. Helmer 19,811</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>Caldwell Sutter Capital, Inc.  0

Joseph F. Helmer 0</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>Caldwell Sutter Capital, Inc.  0

Joseph F. Helmer 19,811</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>Caldwell Sutter Capital, Inc.  460,638

Joseph F. Helmer 460,638</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <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 &amp;#167; 240.14a-11.

</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>CALDWELL SUTTER CAPITAL, INC.</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Christoper W. Anderson</signature>
        <title>Christoper W. Anderson ChiefCompliance Officer</title>
        <date>02/11/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Joseph F. Helmer</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Joseph F. Helmer</signature>
        <title>Joseph F. Helmer President</title>
        <date>02/11/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
