Form SCHEDULE 13G/A AXT INC Filed by: Cleveland Capital Management, L.L.C.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)*

AXT INC

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

(CUSIP Number)

03/31/2026

(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)

SCHEDULE 13G

CUSIP No.

Names of Reporting Persons

Cleveland Capital Management, L.L.C.

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

(a)
(b)

Sec Use Only

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 570,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 570,000.00

Aggregate Amount Beneficially Owned by Each Reporting Person

570,000.00

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

Percent of class represented by amount in row (9)

1.0 %

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13G

CUSIP No.

Names of Reporting Persons

Cleveland Capital, L.P.

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

(a)
(b)

Sec Use Only

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 570,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 570,000.00

Aggregate Amount Beneficially Owned by Each Reporting Person

570,000.00

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

Percent of class represented by amount in row (9)

1.0 %

Type of Reporting Person (See Instructions)

SCHEDULE 13G

CUSIP No.

Names of Reporting Persons

Wade Massad

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

(a)
(b)

Sec Use Only

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 18,210.00
6	Shared Voting Power 570,000.00
7	Sole Dispositive Power 18,210.00
8	Shared Dispositive Power 570,000.00

Aggregate Amount Beneficially Owned by Each Reporting Person

588,210.00

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

Percent of class represented by amount in row (9)

1.1 %

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP No.

Names of Reporting Persons

John Shiry

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

(a)
(b)

Sec Use Only

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 570,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 570,000.00

Aggregate Amount Beneficially Owned by Each Reporting Person

570,000.00

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

Percent of class represented by amount in row (9)

1.0 %

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.

(a)

Name of issuer:

AXT INC

(b)

Address of issuer's principal executive offices:

4281 TECHNOLOGY DR., FREMONT, CA, 94538

Item 2.

(a)

Name of person filing:

Cleveland Capital Management, L.L.C. Cleveland Capital, L.P. Wade Massad John Shiry

(b)

Address or principal business office or, if none, residence:

Cleveland Capital Management, L.L.C. 1250 LINDA ST., SUITE 304, ROCKY RIVER, OH, 44116 Cleveland Capital, L.P. 1250 LINDA STREET, SUITE 304, ROCKY RIVER, OH, 44116 Wade Massad 1250 LINDA STREET, SUITE 304, ROCKY RIVER, OH, 44116 John Shiry 1250 LINDA ST., SUITE 304, ROCKY RIVER, OH, 44116

(c)

Citizenship:

Cleveland Capital Management, L.L.C. - Delaware Cleveland Capital, L.P. - Delaware Wade Massad - United States John Shiry - United States

(d)

Title of class of securities:

Common Stock, par value $0.001 per share

(e)

CUSIP No.:

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:

Cleveland Capital Management, L.L.C. - 570,000 Cleveland Capital, L.P. - 570,000 Wade Massad - 588,210 John Shiry - 570,000

(b)

Percent of class:

Cleveland Capital Management, L.L.C. - 1.0% Cleveland Capital, L.P. - 1.0% Wade Massad - 1.1% John Shiry - 1.0% %

(c)

Number of shares as to which the person has:

(i) Sole power to vote or to direct the vote:

Cleveland Capital Management, L.L.C. - 0 Cleveland Capital, L.P. - 0 Wade Massad - 18,210 John Shiry - 0

(ii) Shared power to vote or to direct the vote:

Cleveland Capital Management, L.L.C. - 570,000 Cleveland Capital, L.P. - 570,000 Wade Massad - 570,000 John Shiry - 570,000

(iii) Sole power to dispose or to direct the disposition of:

Cleveland Capital Management, L.L.C. - 0 Cleveland Capital, L.P. - 0 Wade Massad - 18,210 John Shiry - 0

(iv) Shared power to dispose or to direct the disposition of:

Cleveland Capital Management, L.L.C. - 570,000 Cleveland Capital, L.P. - 570,000 Wade Massad - 570,000 John Shiry - 570,000

Item 5.

Ownership of 5 Percent or Less of a Class.

Ownership of 5 percent or less of a class

Item 6.

Ownership of more than 5 Percent on Behalf of Another Person.

If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.

All of the securities reported in this Schedule 13G are owned by an advisory client of Cleveland Capital Management, L.L.C., and by one of its control persons.

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.

Please see Exhibit B attached hereto.

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 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.

Cleveland Capital Management, L.L.C.

Signature:	/s/ Wade Massad
Name/Title:	Wade Massad, Managing Member
Date:	05/08/2026

Cleveland Capital, L.P.

Signature:	/s/ Wade Massad
Name/Title:	Wade Massad, Managing Member
Date:	05/08/2026

Wade Massad

Signature:	/s/ Wade Massad
Name/Title:	Wade Massad
Date:	05/08/2026

John Shiry

Signature:	/s/ John Shiry
Name/Title:	John Shiry
Date:	05/08/2026

Exhibit Information

Exhibit A - Joint Filing Agreement Exhibit B - Control Person Identification

Form SCHEDULE 13G/A AXT INC Filed by: Cleveland Capital Management, L.L.C.

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