Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SATL	SATELLOGIC INC	1,647,687	$8.963M	5.1%	$5.44	—	COM CL A	80401C100
TENB	TENABLE HLDGS INC	519,002	$8.779M	5.0%	$21.82	0.0%	COM	88025T102
OII	OCEANEERING INTL INC	208,000	$7.378M	4.2%	$30.60	0.0%	COM	675232102
TH	TARGET HOSPITALITY CORP	437,885	$4.064M	2.3%	$7.38	0.0%	COM	87615L107
VPG	VISHAY PRECISION GROUP INC	66,928	$2.906M	1.6%	$46.22	0.0%	COM	92835K103
PRLB	PROTO LABS INC	48,500	$2.765M	1.6%	$58.00	0.0%	COM	743713109
WDAY	WORKDAY INC	16,000	$2.079M	1.2%	$172.62	0.0%	CL A	98138H101
IGV	ISHARES TR	25,000	$2.001M	1.1%	$80.05	—	EXPANDED TECH	464287515
ZM	ZOOM COMMUNICATIONS INC	17,000	$1.367M	0.8%	$88.07	0.0%	CL A	98980L101
POCI	PRECISION OPTICS CORP INC MA	156,805	$688K	0.4%	$4.74	0.0%	COM NEW	740294400
VTSI	VIRTRA INC	123,265	$457K	0.3%	$4.61	0.0%	COM PAR	92827K301
SNBR	SLEEP NUMBER CORP	225,600	$405K	0.2%	$9.80	0.0%	COM	83125X103
—	M-TRON INDS INC	78,233	$164K	0.1%	$2.10	—	RIGHT 04/15/2026	55380K133

Increased Positions (16)

BAND BANDWIDTH INC 5.9%

Value $10.39M (+50.5%) Shares 583,122 (+30.5%) Est. Cost $15.02 Unrealized -8.1%

MITK MITEK SYS INC 3.0%

Value $5.276M (+160.9%) Shares 390,785 (+103.9%) Est. Cost $10.34 Unrealized +8.3%

SVV SAVERS VALUE VLG INC 5.4%

Value $9.651M (-17.7%) Shares 1,297,183 (+3.3%) Est. Cost $9.93 Unrealized +5.1%

TDUP THREDUP INC 2.3%

Value $4.061M (+83.0%) Shares 1,238,125 (+256.6%) Est. Cost $5.00 Unrealized +4.8%

BRZE BRAZE INC 5.4%

Value $9.509M (+23.6%) Shares 402,747 (+79.4%) Est. Cost $26.12 Unrealized -13.5%

OMDA OMADA HEALTH INC 5.1%

Value $9.115M (-14.8%) Shares 725,120 (+6.9%) Est. Cost $19.96 Unrealized -30.0%

MRCY MERCURY SYS INC 3.9%

Value $6.986M (+28.3%) Shares 95,814 (+28.4%) Est. Cost $71.38 Unrealized +26.9%

LYTS LSI INDS INC OHIO 2.8%

Value $4.901M (+36.2%) Shares 263,480 (+34.1%) Est. Cost $16.88 Unrealized +25.9%

OSUR ORASURE TECHNOLOGIES INC 1.3%

Value $2.244M (+61.7%) Shares 747,909 (+30.4%) Est. Cost $2.65 Unrealized +2.8%

ORN ORION GROUP HLDGS INC 2.0%

Value $3.477M (+28.0%) Shares 318,980 (+16.7%) Est. Cost $8.47 Unrealized +45.9%

TDC TERADATA CORP DEL 5.0%

Value $8.874M (-6.9%) Shares 346,232 (+10.5%) Est. Cost $24.56 Unrealized +23.2%

SFIX STITCH FIX INC 4.7%

Value $8.271M (+7.4%) Shares 2,498,925 (+70.3%) Est. Cost $4.56 Unrealized +0.0%

CGNT COGNYTE SOFTWARE LTD 1.4%

Value $2.504M (+27.9%) Shares 309,171 (+48.4%) Est. Cost $8.53 Unrealized -2.9%

KOPN KOPIN CORP 1.6%

Value $2.879M (+16.1%) Shares 1,279,737 (+20.8%) Est. Cost $1.20 Unrealized +115.1%

OPXS OPTEX SYS HLDGS INC 1.5%

Value $2.587M (+3.6%) Shares 195,586 (+11.1%) Est. Cost $12.92 Unrealized +9.7%

MTLS MATERIALISE NV 2.1%

Value $3.669M (+1.0%) Shares 742,722 (+13.5%) Est. Cost $5.50 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BAND	BANDWIDTH INC	583,122 (+30.5%)	$10.39M (+50.5%)	5.9%	$15.02	-8.1%	COM CL A	05988J103
MITK	MITEK SYS INC	390,785 (+103.9%)	$5.276M (+160.9%)	3.0%	$10.34	+8.3%	COM NEW	606710200
SVV	SAVERS VALUE VLG INC	1,297,183 (+3.3%)	$9.651M (-17.7%)	5.4%	$9.93	+5.1%	COM	80517M109
TDUP	THREDUP INC	1,238,125 (+256.6%)	$4.061M (+83.0%)	2.3%	$5.00	+4.8%	CL A	88556E102
BRZE	BRAZE INC	402,747 (+79.4%)	$9.509M (+23.6%)	5.4%	$26.12	-13.5%	COM CL A	10576N102
OMDA	OMADA HEALTH INC	725,120 (+6.9%)	$9.115M (-14.8%)	5.1%	$19.96	-30.0%	COM	68170A108
MRCY	MERCURY SYS INC	95,814 (+28.4%)	$6.986M (+28.3%)	3.9%	$71.38	+26.9%	COM	589378108
LYTS	LSI INDS INC OHIO	263,480 (+34.1%)	$4.901M (+36.2%)	2.8%	$16.88	+25.9%	COM	50216C108
OSUR	ORASURE TECHNOLOGIES INC	747,909 (+30.4%)	$2.244M (+61.7%)	1.3%	$2.65	+2.8%	COM	68554V108
ORN	ORION GROUP HLDGS INC	318,980 (+16.7%)	$3.477M (+28.0%)	2.0%	$8.47	+45.9%	COM	68628V308
TDC	TERADATA CORP DEL	346,232 (+10.5%)	$8.874M (-6.9%)	5.0%	$24.56	+23.2%	COM	88076W103
SFIX	STITCH FIX INC	2,498,925 (+70.3%)	$8.271M (+7.4%)	4.7%	$4.56	+0.0%	COM CL A	860897107
CGNT	COGNYTE SOFTWARE LTD	309,171 (+48.4%)	$2.504M (+27.9%)	1.4%	$8.53	-2.9%	ORD SHS	M25133105
KOPN	KOPIN CORP	1,279,737 (+20.8%)	$2.879M (+16.1%)	1.6%	$1.20	+115.1%	COM	500600101
OPXS	OPTEX SYS HLDGS INC	195,586 (+11.1%)	$2.587M (+3.6%)	1.5%	$12.92	+9.7%	COM NEW	68384X209
MTLS	MATERIALISE NV	742,722 (+13.5%)	$3.669M (+1.0%)	2.1%	$5.50	—	SPONSORED ADS	57667T100

Exited Positions (16)

BW BABCOCK & WILCOX ENTERPRISES 4.7%

Value $8.401M Shares 1,325,045 Est. Cost $1.77 Unrealized +402.5%

EZPW EZCORP INC 4.0%

Value $7.136M Shares 367,433 Est. Cost $10.78 Unrealized +111.4%

OLPX OLAPLEX HLDGS INC 3.4%

Value $5.986M Shares 4,466,876 Est. Cost $1.36 Unrealized +15.5%

HCSG HEALTHCARE SVCS GROUP INC 2.7%

Value $4.756M Shares 248,740 Est. Cost $12.52 Unrealized +56.5%

OSS ONE STOP SYS INC 1.3%

Value $2.347M Shares 326,812 Est. Cost $4.79 Unrealized +97.9%

CLB CORE LABORATORIES INC 1.1%

Value $1.88M Shares 117,252 Est. Cost $14.87 Unrealized +26.5%

BYRN BYRNA TECHNOLOGIES INC 0.9%

Value $1.645M Shares 98,000 Est. Cost $22.19 Unrealized -33.3%

OSPN ONESPAN INC 0.9%

Value $1.522M Shares 118,551 Est. Cost $13.49 Unrealized -12.6%

TWLO TWILIO INC 0.8%

Value $1.394M Shares 9,800 Est. Cost $103.91 Unrealized +17.3%

FSLY FASTLY INC 0.4%

Value $713K Shares 70,000 Est. Cost $9.86 Unrealized +17.3%

DIBS 1STDIBS COM INC 0.4%

Value $712K Shares 118,921 Est. Cost $2.72 Unrealized +105.1%

DHX DHI GROUP INC 0.3%

Value $552K Shares 355,843 Est. Cost $2.33 Unrealized -13.9%

LPTH LIGHTPATH TECHNOLOGIES INC 0.3%

Value $502K Shares 46,492 Est. Cost $1.54 Unrealized +660.8%

PRCT PROCEPT BIOROBOTICS CORP 0.2%

Value $315K Shares 10,000 Est. Cost $33.16 Unrealized -10.8%

PL PLANET LABS PBC 0.2%

Value $270K Shares 13,700 Est. Cost $6.55 Unrealized +270.9%

SSTI SOUNDTHINKING INC 0.1%

Value $243K Shares 30,223 Est. Cost $13.21 Unrealized -42.4%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BW	BABCOCK & WILCOX ENTERPRISES	1,325,045	$8.401M	4.7%	$1.77	+402.5%	—	05614L209
EZPW	EZCORP INC	367,433	$7.136M	4.0%	$10.78	+111.4%	—	302301106
OLPX	OLAPLEX HLDGS INC	4,466,876	$5.986M	3.4%	$1.36	+15.5%	—	679369108
HCSG	HEALTHCARE SVCS GROUP INC	248,740	$4.756M	2.7%	$12.52	+56.5%	—	421906108
OSS	ONE STOP SYS INC	326,812	$2.347M	1.3%	$4.79	+97.9%	—	68247W109
CLB	CORE LABORATORIES INC	117,252	$1.88M	1.1%	$14.87	+26.5%	—	21867A105
BYRN	BYRNA TECHNOLOGIES INC	98,000	$1.645M	0.9%	$22.19	-33.3%	—	12448X201
OSPN	ONESPAN INC	118,551	$1.522M	0.9%	$13.49	-12.6%	—	68287N100
TWLO	TWILIO INC	9,800	$1.394M	0.8%	$103.91	+17.3%	—	90138F102
FSLY	FASTLY INC	70,000	$713K	0.4%	$9.86	+17.3%	—	31188V100
DIBS	1STDIBS COM INC	118,921	$712K	0.4%	$2.72	+105.1%	—	320551104
DHX	DHI GROUP INC	355,843	$552K	0.3%	$2.33	-13.9%	—	23331S100
LPTH	LIGHTPATH TECHNOLOGIES INC	46,492	$502K	0.3%	$1.54	+660.8%	—	532257805
PRCT	PROCEPT BIOROBOTICS CORP	10,000	$315K	0.2%	$33.16	-10.8%	—	74276L105
PL	PLANET LABS PBC	13,700	$270K	0.2%	$6.55	+270.9%	—	72703X106
SSTI	SOUNDTHINKING INC	30,223	$243K	0.1%	$13.21	-42.4%	—	82536T107

Decreased Positions (9)

REAL THE REALREAL INC 1.7%

Value $2.988M (-60.9%) Shares 329,075 (-32.0%) Est. Cost $6.57 Unrealized +116.8%

ESTC ELASTIC N V 2.0%

Value $3.599M (-41.1%) Shares 72,000 (-11.1%) Est. Cost $82.68 Unrealized -19.0%

CXM SPRINKLR INC 0.9%

Value $1.652M (-49.5%) Shares 275,272 (-34.5%) Est. Cost $8.19 Unrealized -22.1%

MPTI M-TRON INDS INC 3.0%

Value $5.23M (-16.9%) Shares 78,233 (-33.8%) Est. Cost $47.66 Unrealized +32.0%

APYX APYX MEDICAL CORPORATION 5.8%

Value $10.3M (-8.4%) Shares 2,790,923 (-13.1%) Est. Cost $5.66 Unrealized -32.0%

OWLT OWLET INC 0.1%

Value $93,270 (-90.1%) Shares 18,146 (-68.9%) Est. Cost $5.28 Unrealized +143.3%

DDD 3D SYS CORP DEL 0.6%

Value $1.027M (-40.5%) Shares 546,221 (-44.0%) Est. Cost $2.43 Unrealized -6.7%

LOCO EL POLLO LOCO HLDGS INC 0.9%

Value $1.587M (-15.5%) Shares 114,502 (-36.2%) Est. Cost $10.45 Unrealized +2.7%

CODA CODA OCTOPUS GROUP INC 0.9%

Value $1.582M (+13.4%) Shares 140,000 (-6.7%) Est. Cost $9.03 Unrealized +28.9%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
REAL	THE REALREAL INC	329,075 (-32.0%)	$2.988M (-60.9%)	1.7%	$6.57	+116.8%	COM	88339P101
ESTC	ELASTIC N V	72,000 (-11.1%)	$3.599M (-41.1%)	2.0%	$82.68	-19.0%	ORD SHS	N14506104
CXM	SPRINKLR INC	275,272 (-34.5%)	$1.652M (-49.5%)	0.9%	$8.19	-22.1%	CL A	85208T107
MPTI	M-TRON INDS INC	78,233 (-33.8%)	$5.23M (-16.9%)	3.0%	$47.66	+32.0%	COM	55380K109
APYX	APYX MEDICAL CORPORATION	2,790,923 (-13.1%)	$10.3M (-8.4%)	5.8%	$5.66	-32.0%	COM	03837C106
OWLT	OWLET INC	18,146 (-68.9%)	$93,270 (-90.1%)	0.1%	$5.28	+143.3%	CL A NEW	69120X206
DDD	3D SYS CORP DEL	546,221 (-44.0%)	$1.027M (-40.5%)	0.6%	$2.43	-6.7%	COM NEW	88554D205
LOCO	EL POLLO LOCO HLDGS INC	114,502 (-36.2%)	$1.587M (-15.5%)	0.9%	$10.45	+2.7%	COM	268603107
CODA	CODA OCTOPUS GROUP INC	140,000 (-6.7%)	$1.582M (+13.4%)	0.9%	$9.03	+28.9%	COM NEW	19188U206

Unchanged Positions (7)

KRMD KORU MEDICAL SYSTEMS INC 1.6%

Value $2.777M Shares 642,923 Est. Cost $3.41 Unrealized +54.4%

STXS STEREOTAXIS INC 1.3%

Value $2.256M Shares 1,226,044 Est. Cost $1.81 Unrealized +29.3%

CYRX CRYOPORT INC 1.5%

Value $2.693M Shares 325,268 Est. Cost $7.48 Unrealized +27.9%

SOPH SOPHIA GENETICS SA 1.2%

Value $2.185M Shares 441,413 Est. Cost $3.14 Unrealized +58.8%

SPWH SPORTSMANS WHSE HLDGS INC 1.3%

Value $2.353M Shares 1,668,905 Est. Cost $2.16 Unrealized -37.7%

TWIN TWIN DISC INC 0.2%

Value $285K Shares 18,929 Est. Cost $15.44 Unrealized +13.0%

LSF LAIRD SUPERFOOD INC 0.1%

Value $195K Shares 90,654 Est. Cost $6.15 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
KRMD	KORU MEDICAL SYSTEMS INC	642,923	$2.777M	1.6%	$3.41	+54.4%	COM	759910102
STXS	STEREOTAXIS INC	1,226,044	$2.256M	1.3%	$1.81	+29.3%	COM NEW	85916J409
CYRX	CRYOPORT INC	325,268	$2.693M	1.5%	$7.48	+27.9%	COM PAR $0.001	229050307
SOPH	SOPHIA GENETICS SA	441,413	$2.185M	1.2%	$3.14	+58.8%	ORDINARY SHARES	H82027105
SPWH	SPORTSMANS WHSE HLDGS INC	1,668,905	$2.353M	1.3%	$2.16	-37.7%	COM	84920Y106
TWIN	TWIN DISC INC	18,929	$285K	0.2%	$15.44	+13.0%	COM	901476101
LSF	LAIRD SUPERFOOD INC	90,654	$195K	0.1%	$6.15	—	COM STK	50736T102