Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IWM	ISHARES RUSSELL 2000	13,500	$4.056M	2.8%	—	—	PUT	464287655
QQQ	INVESCO QQQ TRUST SERIES	5,000	$3.682M	2.5%	—	—	PUT	46090E103
SHMD	SCHMID GROUP NV	288,200	$1.804M	1.2%	—	—	COM	N68722102
ACVA	ACV AUCTIONS INC-A	197,200	$1.418M	1.0%	—	—	COM	00091G104
SVC	SERVICE PROPERTIES TRUST	647,000	$1.093M	0.7%	—	—	REIT	81761L201
VXX	IPATH SERIES B S&P 500 VIX	40,300	$890K	0.6%	—	—	ETF	06748M196
AVPT	AVEPOINT INC	75,500	$846K	0.6%	—	—	COM	053604104
KOPN	KOPIN CORP	185,000	$829K	0.6%	—	—	COM	500600101
ISPR	ISPIRE TECHNOLOGY INC	598,600	$670K	0.5%	—	—	COM	46501C100
UTI	UNIVERSAL TECHNICAL INSTITUT	5,000	$214K	0.1%	—	—	PUT	913915104
FIGS	FIGS INC-CLASS A	12,500	$128K	0.1%	—	—	COM	30260D103
DSP	VIANT TECHNOLOGY INC-A	10,100	$128K	0.1%	—	—	CALL	92557A101
RELL	RICHARDSON ELEC LTD	5,000	$95,050	0.1%	—	—	COM	763165107
CNDT	CONDUENT INC	50,000	$73,000	0.0%	—	—	COM	206787103
SPT	SPROUT SOCIAL INC - CLASS A	100	$755	0.0%	—	—	COM	85209W109

Increased Positions (16)

WYY WIDEPOINT CORP 3.6%

Value $5.235M (+284.6%) Shares 299,162 (+9.7%) Est. Cost — Unrealized —

PESI PERMA-FIX ENVIRONMENTAL SVCS 4.7%

Value $6.816M (+114.9%) Shares 477,000 (+60.8%) Est. Cost — Unrealized —

LSAK LESAKA TECHNOLOGIES INC 5.1%

Value $7.53M (+33.0%) Shares 1,515,000 (+36.2%) Est. Cost — Unrealized —

DSP VIANT TECHNOLOGY INC-A 4.6%

Value $6.811M (+14.2%) Shares 538,000 (+1.0%) Est. Cost — Unrealized —

NN NEXTNAV INC 1.0%

Value $1.408M (+134.3%) Shares 78,950 (+110.5%) Est. Cost — Unrealized —

ATEX ANTERIX INC 0.7%

Value $1.029M (+259.4%) Shares 10,000 (+33.3%) Est. Cost — Unrealized —

TPCS TECHPRECISION CORP 1.0%

Value $1.464M (+94.9%) Shares 279,396 (+12.0%) Est. Cost — Unrealized —

CSGP COSTAR GROUP INC 0.8%

Value $1.133M (+134.0%) Shares 40,000 (+233.3%) Est. Cost — Unrealized —

NN NEXTNAV INC 0.5%

Value $713K (+345.2%) Shares 40,000 (+300.0%) Est. Cost — Unrealized —

CDZI CADIZ INC 1.0%

Value $1.463M (-11.1%) Shares 350,000 (+4.5%) Est. Cost — Unrealized —

RMNI RIMINI STREET INC 0.3%

Value $406K (+47.5%) Shares 95,328 (+13.6%) Est. Cost — Unrealized —

FPH FIVE POINT HOLDINGS LLC-CL A 0.3%

Value $395K (+36.1%) Shares 75,000 (+25.0%) Est. Cost — Unrealized —

INTZ INTRUSION INC 0.3%

Value $481K (+26.1%) Shares 518,429 (+11.4%) Est. Cost — Unrealized —

OWLT OWLET INC 0.3%

Value $444K (+22.6%) Shares 77,420 (+9.8%) Est. Cost — Unrealized —

BRLT BRILLIANT EARTH GROUP INC-A 0.3%

Value $384K (-8.3%) Shares 340,000 (+7.9%) Est. Cost — Unrealized —

AVNW AVIAT NETWORKS INC 0.1%

Value $79,920 (+76.7%) Shares 3,600 (+80.0%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
WYY	WIDEPOINT CORP	299,162 (+9.7%)	$5.235M (+284.6%)	3.6%	—	—	COM	967590209
PESI	PERMA-FIX ENVIRONMENTAL SVCS	477,000 (+60.8%)	$6.816M (+114.9%)	4.7%	—	—	COM	714157203
LSAK	LESAKA TECHNOLOGIES INC	1,515,000 (+36.2%)	$7.53M (+33.0%)	5.1%	—	—	COM	64107N206
DSP	VIANT TECHNOLOGY INC-A	538,000 (+1.0%)	$6.811M (+14.2%)	4.6%	—	—	COM	92557A101
NN	NEXTNAV INC	78,950 (+110.5%)	$1.408M (+134.3%)	1.0%	—	—	COM	65345N106
ATEX	ANTERIX INC	10,000 (+33.3%)	$1.029M (+259.4%)	0.7%	—	—	PUT	03676C100
TPCS	TECHPRECISION CORP	279,396 (+12.0%)	$1.464M (+94.9%)	1.0%	—	—	COM	878739200
CSGP	COSTAR GROUP INC	40,000 (+233.3%)	$1.133M (+134.0%)	0.8%	—	—	COM	22160N109
NN	NEXTNAV INC	40,000 (+300.0%)	$713K (+345.2%)	0.5%	—	—	CALL	65345N106
CDZI	CADIZ INC	350,000 (+4.5%)	$1.463M (-11.1%)	1.0%	—	—	COM	127537207
RMNI	RIMINI STREET INC	95,328 (+13.6%)	$406K (+47.5%)	0.3%	—	—	COM	76674Q107
FPH	FIVE POINT HOLDINGS LLC-CL A	75,000 (+25.0%)	$395K (+36.1%)	0.3%	—	—	COM	33833Q106
INTZ	INTRUSION INC	518,429 (+11.4%)	$481K (+26.1%)	0.3%	—	—	COM	46121E304
OWLT	OWLET INC	77,420 (+9.8%)	$444K (+22.6%)	0.3%	—	—	COM	69120X206
BRLT	BRILLIANT EARTH GROUP INC-A	340,000 (+7.9%)	$384K (-8.3%)	0.3%	—	—	COM	109504100
AVNW	AVIAT NETWORKS INC	3,600 (+80.0%)	$79,920 (+76.7%)	0.1%	—	—	COM	05366Y201

Exited Positions (14)

HCKT THE HACKET GROUP INC 1.0%

Value $1.524M Shares 117,104 Est. Cost — Unrealized —

PXLW PIXELWORKS INC 0.7%

Value $1.08M Shares 200,000 Est. Cost — Unrealized —

MX MAGNACHIP SEMICONDUCT-DEP SH 0.7%

Value $1.022M Shares 365,000 Est. Cost — Unrealized —

CXDO CREXENDO INC 0.6%

Value $861K Shares 139,568 Est. Cost — Unrealized —

QLD PROSHARES ULTRA QQQ 0.5%

Value $738K Shares 12,100 Est. Cost — Unrealized —

DDI DOUBLEDOWN INTERACTIVE -ADR 0.5%

Value $668K Shares 79,100 Est. Cost — Unrealized —

MCDIF MCDERMOTT INTERNATIONAL LTD 0.4%

Value $520K Shares 20,000 Est. Cost — Unrealized —

LUNA LUNA INNOVATIONS INC 0.3%

Value $508K Shares 461,770 Est. Cost — Unrealized —

DHC DIVERSIFIED HEALTHCARE TRUST 0.3%

Value $398K Shares 60,000 Est. Cost — Unrealized —

IDAI T STAMP INC-CLASS A 0.3%

Value $385K Shares 160,900 Est. Cost — Unrealized —

SVC SERVICE PROPERTIES TRUST 0.2%

Value $283K Shares 209,000 Est. Cost — Unrealized —

— AXT INC 0.1%

Value $85,470 Shares 1,500 Est. Cost — Unrealized —

XPER XPERI INC-W/I 0.0%

Value $5,600 Shares 1,000 Est. Cost — Unrealized —

INSG INSEEGO CORP 0.0%

Value $3,336 Shares 300 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
HCKT	THE HACKET GROUP INC	117,104	$1.524M	1.0%	—	—	—	404609109
PXLW	PIXELWORKS INC	200,000	$1.08M	0.7%	—	—	—	72581M404
MX	MAGNACHIP SEMICONDUCT-DEP SH	365,000	$1.022M	0.7%	—	—	—	55933J203
CXDO	CREXENDO INC	139,568	$861K	0.6%	—	—	—	226552107
QLD	PROSHARES ULTRA QQQ	12,100	$738K	0.5%	—	—	—	74347R206
DDI	DOUBLEDOWN INTERACTIVE -ADR	79,100	$668K	0.5%	—	—	—	25862B109
MCDIF	MCDERMOTT INTERNATIONAL LTD	20,000	$520K	0.4%	—	—	—	G5924V148
LUNA	LUNA INNOVATIONS INC	461,770	$508K	0.3%	—	—	—	550351100
DHC	DIVERSIFIED HEALTHCARE TRUST	60,000	$398K	0.3%	—	—	—	25525P107
IDAI	T STAMP INC-CLASS A	160,900	$385K	0.3%	—	—	—	873048508
SVC	SERVICE PROPERTIES TRUST	209,000	$283K	0.2%	—	—	—	81761L102
—	AXT INC	1,500	$85,470	0.1%	—	—	PUT	00246W953
XPER	XPERI INC-W/I	1,000	$5,600	0.0%	—	—	CALL	98423J101
INSG	INSEEGO CORP	300	$3,336	0.0%	—	—	—	45782B302

Decreased Positions (18)

ATEX ANTERIX INC 10.9%

Value $15.96M (+140.5%) Shares 155,071 (-10.8%) Est. Cost — Unrealized —

SATS ECHOSTAR HOLDING CORP-A 11.8%

Value $17.28M (-25.5%) Shares 166,277 (-16.0%) Est. Cost — Unrealized —

KVHI KVH INDUSTRIES INC 1.8%

Value $2.582M (-38.2%) Shares 260,501 (-44.1%) Est. Cost — Unrealized —

DUOT DUOS TECHNOLOGIES GROUP INC 2.6%

Value $3.76M (+69.1%) Shares 313,300 (-3.4%) Est. Cost — Unrealized —

CNXX CONX CORP 4.6%

Value $6.688M (+22.6%) Shares 1,046,710 (-12.5%) Est. Cost — Unrealized —

GRPN GROUPON INC 2.0%

Value $2.964M (+59.9%) Shares 123,200 (-20.9%) Est. Cost — Unrealized —

ADTN ADTRAN HOLDINGS INC 0.1%

Value $139K (-85.7%) Shares 10,000 (-87.0%) Est. Cost — Unrealized —

AVD AMERICAN VANGUARD CORP 0.7%

Value $1.005M (-35.1%) Shares 358,780 (-42.3%) Est. Cost — Unrealized —

LION LIONSGATE STUDIOS HOLDING CO 1.8%

Value $2.587M (+24.3%) Shares 169,000 (-22.1%) Est. Cost — Unrealized —

GSIT GSI TECHNOLOGY INC 0.9%

Value $1.299M (-27.4%) Shares 168,110 (-51.7%) Est. Cost — Unrealized —

PRCH PORCH GROUP INC 0.5%

Value $752K (+70.5%) Shares 50,000 (-18.7%) Est. Cost — Unrealized —

XELB XCEL BRANDS INC 0.3%

Value $450K (-28.9%) Shares 250,058 (-38.8%) Est. Cost — Unrealized —

REE REE AUTOMOTIVE LTD - CLASS A 0.1%

Value $77,927 (-68.2%) Shares 397,585 (-2.6%) Est. Cost — Unrealized —

CODI COMPASS DIVERSIFIED 1.2%

Value $1.759M (-8.0%) Shares 165,000 (-32.2%) Est. Cost — Unrealized —

CDXS CODEXIS INC 0.4%

Value $588K (+31.5%) Shares 260,000 (-5.2%) Est. Cost — Unrealized —

PRTH PRIORITY TECHNOLOGY HOLDINGS 0.4%

Value $615K (+19.8%) Shares 92,206 (-15.3%) Est. Cost — Unrealized —

GANX GAIN THERAPEUTICS INC 1.3%

Value $1.921M (-1.8%) Shares 946,400 (-6.2%) Est. Cost — Unrealized —

UIS UNISYS CORP 0.1%

Value $183K (-7.5%) Shares 50,000 (-47.7%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ATEX	ANTERIX INC	155,071 (-10.8%)	$15.96M (+140.5%)	10.9%	—	—	COM	03676C100
SATS	ECHOSTAR HOLDING CORP-A	166,277 (-16.0%)	$17.28M (-25.5%)	11.8%	—	—	COM	278768106
KVHI	KVH INDUSTRIES INC	260,501 (-44.1%)	$2.582M (-38.2%)	1.8%	—	—	COM	482738101
DUOT	DUOS TECHNOLOGIES GROUP INC	313,300 (-3.4%)	$3.76M (+69.1%)	2.6%	—	—	COM	266042407
CNXX	CONX CORP	1,046,710 (-12.5%)	$6.688M (+22.6%)	4.6%	—	—	WRNT	212873103
GRPN	GROUPON INC	123,200 (-20.9%)	$2.964M (+59.9%)	2.0%	—	—	COM	399473206
ADTN	ADTRAN HOLDINGS INC	10,000 (-87.0%)	$139K (-85.7%)	0.1%	—	—	COM	00486H105
AVD	AMERICAN VANGUARD CORP	358,780 (-42.3%)	$1.005M (-35.1%)	0.7%	—	—	COM	030371108
LION	LIONSGATE STUDIOS HOLDING CO	169,000 (-22.1%)	$2.587M (+24.3%)	1.8%	—	—	COM	53626N102
GSIT	GSI TECHNOLOGY INC	168,110 (-51.7%)	$1.299M (-27.4%)	0.9%	—	—	COM	36241U106
PRCH	PORCH GROUP INC	50,000 (-18.7%)	$752K (+70.5%)	0.5%	—	—	COM	733245104
XELB	XCEL BRANDS INC	250,058 (-38.8%)	$450K (-28.9%)	0.3%	—	—	COM	98400M200
REE	REE AUTOMOTIVE LTD - CLASS A	397,585 (-2.6%)	$77,927 (-68.2%)	0.1%	—	—	COM	M8287R202
CODI	COMPASS DIVERSIFIED	165,000 (-32.2%)	$1.759M (-8.0%)	1.2%	—	—	COM	20451Q104
CDXS	CODEXIS INC	260,000 (-5.2%)	$588K (+31.5%)	0.4%	—	—	COM	192005106
PRTH	PRIORITY TECHNOLOGY HOLDINGS	92,206 (-15.3%)	$615K (+19.8%)	0.4%	—	—	COM	74275G107
GANX	GAIN THERAPEUTICS INC	946,400 (-6.2%)	$1.921M (-1.8%)	1.3%	—	—	COM	36269B105
UIS	UNISYS CORP	50,000 (-47.7%)	$183K (-7.5%)	0.1%	—	—	COM	909214306

Unchanged Positions (19)

XPER XPERI INC-W/I 3.5%

Value $5.138M Shares 624,300 Est. Cost — Unrealized —

FENC FENNEC PHARMACEUTICALS INC 1.6%

Value $2.412M Shares 224,400 Est. Cost — Unrealized —

ALLT ALLOT COMMUNICATIONS LTD 2.3%

Value $3.306M Shares 373,600 Est. Cost — Unrealized —

INSE INSPIRED ENTERTAINMENT INC 3.5%

Value $5.089M Shares 616,800 Est. Cost — Unrealized —

AIOT POWERFLEET INC 2.4%

Value $3.493M Shares 912,000 Est. Cost — Unrealized —

CLAR CLARUS CORPORATION 2.4%

Value $3.563M Shares 1,131,000 Est. Cost — Unrealized —

EOLS EVOLUS INC 0.7%

Value $982K Shares 141,500 Est. Cost — Unrealized —

BABA ALIBABA GROUP HOLDING LTD 0.7%

Value $1.037M Shares 10,800 Est. Cost — Unrealized —

BAC BANK OF AMERICA CORP 0.8%

Value $1.14M Shares 20,000 Est. Cost — Unrealized —

GPGI GPGI INC 1.2%

Value $1.799M Shares 113,500 Est. Cost — Unrealized —

GILT GILAT SATELLITE NETWORKS LTD 0.7%

Value $970K Shares 72,842 Est. Cost — Unrealized —

III INFORMATION SERVICES GROUP 0.8%

Value $1.199M Shares 291,800 Est. Cost — Unrealized —

ARLO ARLO TECHNOLOGIES INC 0.9%

Value $1.348M Shares 100,000 Est. Cost — Unrealized —

PMTS CPI CARD GROUP INC 0.2%

Value $249K Shares 12,000 Est. Cost — Unrealized —

BW BABCOCK & WILCOX ENTERPR 0.6%

Value $902K Shares 64,000 Est. Cost — Unrealized —

PCYO PURE CYCLE CORP 0.4%

Value $522K Shares 48,756 Est. Cost — Unrealized —

SCVL SHOE STATION GROUP INC 0.2%

Value $279K Shares 18,800 Est. Cost — Unrealized —

FEAM 5E ADVANCED MATERIALS INC 0.5%

Value $704K Shares 506,300 Est. Cost — Unrealized —

MATW MATTHEWS INTL CORP-CL A 0.0%

Value $60,570 Shares 2,250 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
XPER	XPERI INC-W/I	624,300	$5.138M	3.5%	—	—	COM	98423J101
FENC	FENNEC PHARMACEUTICALS INC	224,400	$2.412M	1.6%	—	—	COM	31447P100
ALLT	ALLOT COMMUNICATIONS LTD	373,600	$3.306M	2.3%	—	—	COM	M0854Q105
INSE	INSPIRED ENTERTAINMENT INC	616,800	$5.089M	3.5%	—	—	COM	45782N108
AIOT	POWERFLEET INC	912,000	$3.493M	2.4%	—	—	COM	73931J109
CLAR	CLARUS CORPORATION	1,131,000	$3.563M	2.4%	—	—	COM	18270P109
EOLS	EVOLUS INC	141,500	$982K	0.7%	—	—	COM	30052C107
BABA	ALIBABA GROUP HOLDING LTD	10,800	$1.037M	0.7%	—	—	ADRS	01609W102
BAC	BANK OF AMERICA CORP	20,000	$1.14M	0.8%	—	—	COM	060505104
GPGI	GPGI INC	113,500	$1.799M	1.2%	—	—	COM	20459V105
GILT	GILAT SATELLITE NETWORKS LTD	72,842	$970K	0.7%	—	—	COM	M51474118
III	INFORMATION SERVICES GROUP	291,800	$1.199M	0.8%	—	—	COM	45675Y104
ARLO	ARLO TECHNOLOGIES INC	100,000	$1.348M	0.9%	—	—	COM	04206A101
PMTS	CPI CARD GROUP INC	12,000	$249K	0.2%	—	—	COM	12634H200
BW	BABCOCK & WILCOX ENTERPR	64,000	$902K	0.6%	—	—	COM	05614L209
PCYO	PURE CYCLE CORP	48,756	$522K	0.4%	—	—	COM	746228303
SCVL	SHOE STATION GROUP INC	18,800	$279K	0.2%	—	—	COM	824889109
FEAM	5E ADVANCED MATERIALS INC	506,300	$704K	0.5%	—	—	COM	33830Q208
MATW	MATTHEWS INTL CORP-CL A	2,250	$60,570	0.0%	—	—	COM	577128101