Teton Advisors, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
HBAN	HUNTINGTON BANCSHARES INC	14,850	$232	0.2%	$17.89	0.0%	EQUITY	446150104
LMAT	LEMAITRE VASCULAR INC	2,000	$218	0.2%	$87.13	0.0%	EQUITY	525558201
TRST	TRUSTCO BANK CORP NY	4,620	$202	0.1%	$43.95	0.0%	EQUITY	898349204
WEAV	WEAVE COMMUNICATIONS INC	43,164	$199	0.1%	$6.38	0.0%	EQUITY	94724R108
LWAY	LIFEWAY FOODS INC	10,000	$193	0.1%	$22.08	0.0%	EQUITY	531914109
KLTR	KALTURA INC	100,000	$122	0.1%	$1.48	0.0%	EQUITY	483467106
NABL	N-ABLE INC	25,000	$117	0.1%	$6.06	0.0%	EQUITY	62878D100

Increased Positions (5)

TG TREDEGAR CORP 0.6%

Value ($000) $898 (+13.7%) Shares 113,000 (+2.7%) Est. Cost $8.25 Unrealized +2.5%

EVC ENTRAVISION COMMUNICATIONS-A 0.2%

Value ($000) $238 (+24.8%) Shares 80,000 (+23.1%) Est. Cost $2.53 Unrealized +20.9%

NAGE NIAGEN BIOSCIENCE INC 0.1%

Value ($000) $132 (-16.8%) Shares 30,000 (+20.0%) Est. Cost $9.38 Unrealized -38.2%

GYRO GYRODYNE LLC 0.1%

Value ($000) $146 (-10.5%) Shares 18,000 (+1.7%) Est. Cost $9.65 Unrealized -6.6%

SPWH SPORTSMAN'S WAREHOUSE HOLDIN 0.1%

Value ($000) $113 (+10.4%) Shares 80,000 (+14.3%) Est. Cost $2.91 Unrealized -53.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TG	TREDEGAR CORP	113,000 (+2.7%)	$898 (+13.7%)	0.6%	$8.25	+2.5%	EQUITY	894650100
EVC	ENTRAVISION COMMUNICATIONS-A	80,000 (+23.1%)	$238 (+24.8%)	0.2%	$2.53	+20.9%	EQUITY	29382R107
NAGE	NIAGEN BIOSCIENCE INC	30,000 (+20.0%)	$132 (-16.8%)	0.1%	$9.38	-38.2%	EQUITY	171077407
GYRO	GYRODYNE LLC	18,000 (+1.7%)	$146 (-10.5%)	0.1%	$9.65	-6.6%	EQUITY	403829104
SPWH	SPORTSMAN'S WAREHOUSE HOLDIN	80,000 (+14.3%)	$113 (+10.4%)	0.1%	$2.91	-53.7%	EQUITY	84920Y106

Exited Positions (6)

SKYT SKYWATER TECHNOLOGY INC 0.5%

Value ($000) $663 Shares 36,484 Est. Cost $11.56 Unrealized +159.9%

KTOS KRATOS DEFENSE & SECURITY 0.2%

Value ($000) $258 Shares 3,400 Est. Cost $64.04 Unrealized +59.9%

CADE CADENCE BANK 0.2%

Value ($000) $257 Shares 6,000 Est. Cost $35.60 Unrealized +23.5%

STE STERIS PLC 0.2%

Value ($000) $228 Shares 900 Est. Cost $238.92 Unrealized +6.9%

OOMA OOMA INC 0.1%

Value ($000) $176 Shares 15,000 Est. Cost $12.24 Unrealized -4.1%

GAMB GAMBLING.COM GROUP LTD 0.1%

Value ($000) $82 Shares 15,000 Est. Cost $9.68 Unrealized -51.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SKYT	SKYWATER TECHNOLOGY INC	36,484	$663	0.5%	$11.56	+159.9%	—	83089J108
KTOS	KRATOS DEFENSE & SECURITY	3,400	$258	0.2%	$64.04	+59.9%	—	50077B207
CADE	CADENCE BANK	6,000	$257	0.2%	$35.60	+23.5%	—	12740C103
STE	STERIS PLC	900	$228	0.2%	$238.92	+6.9%	—	G8473T100
OOMA	OOMA INC	15,000	$176	0.1%	$12.24	-4.1%	—	683416101
GAMB	GAMBLING.COM GROUP LTD	15,000	$82	0.1%	$9.68	-51.2%	—	G3R239101

Decreased Positions (41)

NATH NATHAN'S FAMOUS INC 1.5%

Value ($000) $2,158 (-49.9%) Shares 21,425 (-53.4%) Est. Cost $104.77 Unrealized -6.3%

UCTT ULTRA CLEAN HOLDINGS INC 1.8%

Value ($000) $2,612 (+139.8%) Shares 42,000 (-2.3%) Est. Cost $24.59 Unrealized +90.7%

DCO DUCOMMUN INC 1.7%

Value ($000) $2,379 (-25.3%) Shares 19,500 (-41.8%) Est. Cost $90.38 Unrealized +27.8%

FSTR FOSTER (LB) CO-A 1.9%

Value ($000) $2,752 (-20.3%) Shares 98,641 (-23.0%) Est. Cost $24.77 Unrealized +20.8%

CTS CTS CORP 1.5%

Value ($000) $2,153 (-19.1%) Shares 45,071 (-27.4%) Est. Cost $41.38 Unrealized +23.7%

GRC GORMAN-RUPP CO 1.8%

Value ($000) $2,498 (+24.5%) Shares 40,200 (-4.3%) Est. Cost $41.48 Unrealized +38.7%

KKR KKR & CO INC 0.7%

Value ($000) $925 (-34.0%) Shares 10,000 (-9.1%) Est. Cost $141.65 Unrealized -19.0%

NEOG NEOGEN CORP 1.2%

Value ($000) $1,688 (+29.7%) Shares 181,660 (-2.4%) Est. Cost $5.34 Unrealized +87.7%

ATRO ASTRONICS CORP 2.7%

Value ($000) $3,804 (-8.9%) Shares 57,000 (-26.0%) Est. Cost $36.50 Unrealized +101.1%

STRT STRATTEC SECURITY CORP 1.2%

Value ($000) $1,669 (-15.7%) Shares 21,300 (-18.1%) Est. Cost $67.12 Unrealized +24.8%

RUSHB RUSH ENTERPRISES INC - CL B 1.8%

Value ($000) $2,625 (+12.5%) Shares 40,800 (-1.7%) Est. Cost $56.02 Unrealized +9.5%

MYE MYERS INDUSTRIES INC 3.7%

Value ($000) $5,284 (+5.7%) Shares 249,500 (-6.6%) Est. Cost $15.66 Unrealized +33.5%

FARM FARMER BROS CO 0.0%

Value ($000) $28 (-91.0%) Shares 22,000 (-89.6%) Est. Cost $1.73 Unrealized -9.1%

TWIN TWIN DISC INC 1.0%

Value ($000) $1,379 (-14.8%) Shares 91,500 (-5.7%) Est. Cost $10.74 Unrealized +62.4%

ASTE ASTEC INDUSTRIES INC 1.4%

Value ($000) $1,981 (+12.9%) Shares 36,800 (-9.1%) Est. Cost $43.55 Unrealized +19.8%

MITK MITEK SYSTEMS INC 0.9%

Value ($000) $1,212 (+22.2%) Shares 89,800 (-4.5%) Est. Cost $9.83 Unrealized +14.0%

ALNT ALLIENT INC 1.9%

Value ($000) $2,718 (+8.1%) Shares 46,000 (-1.7%) Est. Cost $42.70 Unrealized +47.2%

ISSC INNOVATIVE SOLUTIONS & SUPP 1.6%

Value ($000) $2,279 (-7.4%) Shares 111,000 (-14.6%) Est. Cost $13.96 Unrealized +49.0%

WGO WINNEBAGO INDUSTRIES 0.4%

Value ($000) $527 (-25.7%) Shares 17,000 (-2.9%) Est. Cost $32.99 Unrealized +39.1%

GHM GRAHAM CORP 1.2%

Value ($000) $1,681 (-8.2%) Shares 21,300 (-25.3%) Est. Cost $51.18 Unrealized +48.1%

DSGR DISTRIBUTION SOLUTIONS GROUP 1.7%

Value ($000) $2,453 (-5.7%) Shares 93,500 (-1.6%) Est. Cost $30.52 Unrealized -2.7%

NVGS NAVIGATOR HOLDINGS LTD 1.1%

Value ($000) $1,566 (+10.2%) Shares 81,000 (-1.2%) Est. Cost $15.88 Unrealized +17.0%

OPCH OPTION CARE HEALTH INC 0.2%

Value ($000) $269 (-35.0%) Shares 10,000 (-23.1%) Est. Cost $28.96 Unrealized +18.8%

CVGW CALAVO GROWERS INC 1.2%

Value ($000) $1,774 (+6.4%) Shares 68,800 (-10.3%) Est. Cost $26.55 Unrealized -6.7%

ERII ENERGY RECOVERY INC 0.2%

Value ($000) $272 (-28.0%) Shares 27,000 (-3.6%) Est. Cost $14.10 Unrealized +5.1%

MFIN MEDALLION FINANCIAL CORP 0.3%

Value ($000) $467 (-17.9%) Shares 54,500 (-1.3%) Est. Cost $10.01 Unrealized +2.0%

LE LANDS' END INC 0.2%

Value ($000) $242 (-27.7%) Shares 21,496 (-6.5%) Est. Cost $13.32 Unrealized +25.6%

YORW YORK WATER CO 0.7%

Value ($000) $961 (-7.6%) Shares 31,570 (-3.4%) Est. Cost $30.58 Unrealized +7.4%

UTI UNIVERSAL TECHNICAL INSTITUT 0.2%

Value ($000) $314 (+33.6%) Shares 8,700 (-3.3%) Est. Cost $29.39 Unrealized -2.7%

OFIX ORTHOFIX MEDICAL INC 0.1%

Value ($000) $198 (-25.2%) Shares 17,300 (-1.1%) Est. Cost $13.13 Unrealized +5.4%

GTX GARRETT MOTION INC 0.5%

Value ($000) $727 (-7.3%) Shares 40,000 (-11.1%) Est. Cost $12.66 Unrealized +49.4%

FEIM FREQUENCY ELECTRONICS INC 0.1%

Value ($000) $212 (-21.1%) Shares 4,800 (-4.0%) Est. Cost $36.78 Unrealized +44.1%

ODC OIL-DRI CORP OF AMERICA 0.5%

Value ($000) $664 (+8.5%) Shares 10,200 (-18.4%) Est. Cost $60.72 Unrealized -2.9%

PKE PARK AEROSPACE CORP 0.6%

Value ($000) $841 (-4.4%) Shares 30,700 (-25.5%) Est. Cost $18.13 Unrealized +34.7%

SRI STONERIDGE INC 0.1%

Value ($000) $97 (-20.6%) Shares 20,000 (-4.8%) Est. Cost $7.93 Unrealized -8.9%

SFST SOUTHERN FIRST BANCSHARES 0.6%

Value ($000) $916 (+1.6%) Shares 16,800 (-4.0%) Est. Cost $42.72 Unrealized +32.2%

LCUT LIFETIME BRANDS INC 0.2%

Value ($000) $292 (-3.8%) Shares 50,900 (-33.8%) Est. Cost $4.13 Unrealized -12.9%

STEL STELLAR BANCORP INC 1.1%

Value ($000) $1,604 (+0.6%) Shares 43,800 (-15.0%) Est. Cost $30.39 Unrealized +17.0%

ARAY ACCURAY INC 0.0%

Value ($000) $7 (-57.6%) Shares 18,000 (-10.0%) Est. Cost $1.48 Unrealized -50.7%

MTW MANITOWOC COMPANY INC 0.1%

Value ($000) $148 (-5.1%) Shares 12,700 (-2.3%) Est. Cost $11.12 Unrealized +24.6%

AUB ATLANTIC UNION BANKSHARES CO 0.8%

Value ($000) $1,072 (-0.4%) Shares 30,000 (-1.6%) Est. Cost $33.19 Unrealized +16.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NATH	NATHAN'S FAMOUS INC	21,425 (-53.4%)	$2,158 (-49.9%)	1.5%	$104.77	-6.3%	EQUITY	632347100
UCTT	ULTRA CLEAN HOLDINGS INC	42,000 (-2.3%)	$2,612 (+139.8%)	1.8%	$24.59	+90.7%	EQUITY	90385V107
DCO	DUCOMMUN INC	19,500 (-41.8%)	$2,379 (-25.3%)	1.7%	$90.38	+27.8%	EQUITY	264147109
FSTR	FOSTER (LB) CO-A	98,641 (-23.0%)	$2,752 (-20.3%)	1.9%	$24.77	+20.8%	EQUITY	350060109
CTS	CTS CORP	45,071 (-27.4%)	$2,153 (-19.1%)	1.5%	$41.38	+23.7%	EQUITY	126501105
GRC	GORMAN-RUPP CO	40,200 (-4.3%)	$2,498 (+24.5%)	1.8%	$41.48	+38.7%	EQUITY	383082104
KKR	KKR & CO INC	10,000 (-9.1%)	$925 (-34.0%)	0.7%	$141.65	-19.0%	EQUITY	48251W104
NEOG	NEOGEN CORP	181,660 (-2.4%)	$1,688 (+29.7%)	1.2%	$5.34	+87.7%	EQUITY	640491106
ATRO	ASTRONICS CORP	57,000 (-26.0%)	$3,804 (-8.9%)	2.7%	$36.50	+101.1%	EQUITY	046433108
STRT	STRATTEC SECURITY CORP	21,300 (-18.1%)	$1,669 (-15.7%)	1.2%	$67.12	+24.8%	EQUITY	863111100
RUSHB	RUSH ENTERPRISES INC - CL B	40,800 (-1.7%)	$2,625 (+12.5%)	1.8%	$56.02	+9.5%	EQUITY	781846308
MYE	MYERS INDUSTRIES INC	249,500 (-6.6%)	$5,284 (+5.7%)	3.7%	$15.66	+33.5%	EQUITY	628464109
FARM	FARMER BROS CO	22,000 (-89.6%)	$28 (-91.0%)	0.0%	$1.73	-9.1%	EQUITY	307675108
TWIN	TWIN DISC INC	91,500 (-5.7%)	$1,379 (-14.8%)	1.0%	$10.74	+62.4%	EQUITY	901476101
ASTE	ASTEC INDUSTRIES INC	36,800 (-9.1%)	$1,981 (+12.9%)	1.4%	$43.55	+19.8%	EQUITY	046224101
MITK	MITEK SYSTEMS INC	89,800 (-4.5%)	$1,212 (+22.2%)	0.9%	$9.83	+14.0%	EQUITY	606710200
ALNT	ALLIENT INC	46,000 (-1.7%)	$2,718 (+8.1%)	1.9%	$42.70	+47.2%	EQUITY	019330109
ISSC	INNOVATIVE SOLUTIONS & SUPP	111,000 (-14.6%)	$2,279 (-7.4%)	1.6%	$13.96	+49.0%	EQUITY	45769N105
WGO	WINNEBAGO INDUSTRIES	17,000 (-2.9%)	$527 (-25.7%)	0.4%	$32.99	+39.1%	EQUITY	974637100
GHM	GRAHAM CORP	21,300 (-25.3%)	$1,681 (-8.2%)	1.2%	$51.18	+48.1%	EQUITY	384556106
DSGR	DISTRIBUTION SOLUTIONS GROUP	93,500 (-1.6%)	$2,453 (-5.7%)	1.7%	$30.52	-2.7%	EQUITY	520776105
NVGS	NAVIGATOR HOLDINGS LTD	81,000 (-1.2%)	$1,566 (+10.2%)	1.1%	$15.88	+17.0%	EQUITY	Y62132108
OPCH	OPTION CARE HEALTH INC	10,000 (-23.1%)	$269 (-35.0%)	0.2%	$28.96	+18.8%	EQUITY	68404L201
CVGW	CALAVO GROWERS INC	68,800 (-10.3%)	$1,774 (+6.4%)	1.2%	$26.55	-6.7%	EQUITY	128246105
ERII	ENERGY RECOVERY INC	27,000 (-3.6%)	$272 (-28.0%)	0.2%	$14.10	+5.1%	EQUITY	29270J100
MFIN	MEDALLION FINANCIAL CORP	54,500 (-1.3%)	$467 (-17.9%)	0.3%	$10.01	+2.0%	EQUITY	583928106
LE	LANDS' END INC	21,496 (-6.5%)	$242 (-27.7%)	0.2%	$13.32	+25.6%	EQUITY	51509F105
YORW	YORK WATER CO	31,570 (-3.4%)	$961 (-7.6%)	0.7%	$30.58	+7.4%	EQUITY	987184108
UTI	UNIVERSAL TECHNICAL INSTITUT	8,700 (-3.3%)	$314 (+33.6%)	0.2%	$29.39	-2.7%	EQUITY	913915104
OFIX	ORTHOFIX MEDICAL INC	17,300 (-1.1%)	$198 (-25.2%)	0.1%	$13.13	+5.4%	EQUITY	68752M108
GTX	GARRETT MOTION INC	40,000 (-11.1%)	$727 (-7.3%)	0.5%	$12.66	+49.4%	EQUITY	366505105
FEIM	FREQUENCY ELECTRONICS INC	4,800 (-4.0%)	$212 (-21.1%)	0.1%	$36.78	+44.1%	EQUITY	358010106
ODC	OIL-DRI CORP OF AMERICA	10,200 (-18.4%)	$664 (+8.5%)	0.5%	$60.72	-2.9%	EQUITY	677864100
PKE	PARK AEROSPACE CORP	30,700 (-25.5%)	$841 (-4.4%)	0.6%	$18.13	+34.7%	EQUITY	70014A104
SRI	STONERIDGE INC	20,000 (-4.8%)	$97 (-20.6%)	0.1%	$7.93	-8.9%	EQUITY	86183P102
SFST	SOUTHERN FIRST BANCSHARES	16,800 (-4.0%)	$916 (+1.6%)	0.6%	$42.72	+32.2%	EQUITY	842873101
LCUT	LIFETIME BRANDS INC	50,900 (-33.8%)	$292 (-3.8%)	0.2%	$4.13	-12.9%	EQUITY	53222Q103
STEL	STELLAR BANCORP INC	43,800 (-15.0%)	$1,604 (+0.6%)	1.1%	$30.39	+17.0%	EQUITY	858927106
ARAY	ACCURAY INC	18,000 (-10.0%)	$7 (-57.6%)	0.0%	$1.48	-50.7%	EQUITY	004397105
MTW	MANITOWOC COMPANY INC	12,700 (-2.3%)	$148 (-5.1%)	0.1%	$11.12	+24.6%	EQUITY	563571405
AUB	ATLANTIC UNION BANKSHARES CO	30,000 (-1.6%)	$1,072 (-0.4%)	0.8%	$33.19	+16.8%	EQUITY	04911A107

Unchanged Positions (100)

ATEX ANTERIX INC 1.4%

Value ($000) $2,024 Shares 53,000 Est. Cost $22.42 Unrealized +22.2%

GENC GENCOR INDUSTRIES INC 2.6%

Value ($000) $3,716 Shares 247,700 Est. Cost $15.14 Unrealized -5.6%

ROCK GIBRALTAR INDUSTRIES INC 1.5%

Value ($000) $2,073 Shares 52,000 Est. Cost $62.56 Unrealized -16.1%

PKOH PARK-OHIO HOLDINGS CORP 2.6%

Value ($000) $3,709 Shares 154,300 Est. Cost $18.88 Unrealized +27.6%

INSE INSPIRED ENTERTAINMENT INC 1.0%

Value ($000) $1,447 Shares 202,900 Est. Cost $9.02 Unrealized -1.9%

MYRG MYR GROUP INC/DELAWARE 1.2%

Value ($000) $1,694 Shares 6,000 Est. Cost $186.60 Unrealized +36.2%

MPX MARINE PRODUCTS CORP 1.1%

Value ($000) $1,621 Shares 223,000 Est. Cost $8.53 Unrealized +2.8%

TRC TEJON RANCH CO 1.1%

Value ($000) $1,545 Shares 82,000 Est. Cost $17.44 Unrealized -5.5%

NEO NEOGENOMICS INC 0.3%

Value ($000) $394 Shares 53,100 Est. Cost $7.00 Unrealized +68.9%

MOV MOVADO GROUP INC 1.0%

Value ($000) $1,392 Shares 57,004 Est. Cost $17.34 Unrealized +35.4%

MNRO MONRO INC 0.6%

Value ($000) $802 Shares 50,000 Est. Cost $16.53 Unrealized +27.0%

ATEN A10 NETWORKS INC 0.6%

Value ($000) $832 Shares 36,000 Est. Cost $17.94 Unrealized +2.5%

AOUT AMERICAN OUTDOOR BRANDS INC 0.8%

Value ($000) $1,092 Shares 116,957 Est. Cost $9.48 Unrealized -5.8%

CWST CASELLA WASTE SYSTEMS INC-A 0.6%

Value ($000) $786 Shares 9,910 Est. Cost $100.67 Unrealized +1.0%

MOD MODINE MANUFACTURING CO 0.3%

Value ($000) $477 Shares 2,200 Est. Cost $127.24 Unrealized +38.7%

AP AMPCO-PITTSBURGH CORP 0.6%

Value ($000) $874 Shares 130,000 Est. Cost $2.94 Unrealized +125.2%

RDVT RED VIOLET INC 0.2%

Value ($000) $277 Shares 8,000 Est. Cost $47.41 Unrealized -2.6%

RDIB READING INTERNATIONAL INC-B 0.5%

Value ($000) $688 Shares 74,360 Est. Cost $11.31 Unrealized +5.3%

CMT CORE MOLDING TECHNOLOGIES IN 1.1%

Value ($000) $1,588 Shares 70,890 Est. Cost $18.57 Unrealized +4.4%

VPG VISHAY PRECISION GROUP 0.9%

Value ($000) $1,304 Shares 30,035 Est. Cost $28.94 Unrealized +59.7%

TITN TITAN MACHINERY INC 1.0%

Value ($000) $1,438 Shares 86,000 Est. Cost $19.61 Unrealized -10.8%

GENI GENIUS SPORTS LTD 0.1%

Value ($000) $89 Shares 20,000 Est. Cost $11.96 Unrealized -30.5%

WASH WASHINGTON TRUST BANCORP 0.8%

Value ($000) $1,114 Shares 33,280 Est. Cost $27.83 Unrealized +18.4%

KE KIMBALL ELECTRONICS INC 0.5%

Value ($000) $734 Shares 31,000 Est. Cost $24.66 Unrealized +13.5%

GTN GRAY MEDIA INC 0.7%

Value ($000) $1,027 Shares 236,740 Est. Cost $5.43 Unrealized -15.8%

ARKO ARKO CORP 0.4%

Value ($000) $639 Shares 115,000 Est. Cost $4.67 Unrealized +18.3%

ELMD ELECTROMED INC 0.3%

Value ($000) $468 Shares 20,000 Est. Cost $21.20 Unrealized +28.9%

TYL TYLER TECHNOLOGIES INC 0.2%

Value ($000) $342 Shares 1,000 Est. Cost $561.33 Unrealized -31.4%

MCS MARCUS CORPORATION 0.8%

Value ($000) $1,116 Shares 65,000 Est. Cost $16.04 Unrealized -2.5%

BRBR BELLRING BRANDS INC 0.1%

Value ($000) $161 Shares 10,000 Est. Cost $45.18 Unrealized -50.9%

SAMG SILVERCREST ASSET MANAGEME-A 0.5%

Value ($000) $719 Shares 53,500 Est. Cost $16.31 Unrealized -6.6%

ICFI ICF INTERNATIONAL INC 0.2%

Value ($000) $326 Shares 5,000 Est. Cost $92.67 Unrealized -5.5%

RUSHA RUSH ENTERPRISES INC-CL A 0.4%

Value ($000) $529 Shares 8,000 Est. Cost $55.65 Unrealized +18.3%

FLWS 1-800-FLOWERS.COM INC-CL A 0.2%

Value ($000) $322 Shares 105,800 Est. Cost $5.52 Unrealized -26.8%

RES RPC INC 0.3%

Value ($000) $411 Shares 58,000 Est. Cost $4.63 Unrealized +28.7%

VALU VALUE LINE INC 0.7%

Value ($000) $1,057 Shares 29,958 Est. Cost $38.27 Unrealized -2.7%

LMNR LIMONEIRA CO 1.1%

Value ($000) $1,516 Shares 113,000 Est. Cost $15.29 Unrealized -8.3%

WSBF WATERSTONE FINANCIAL INC 0.7%

Value ($000) $1,064 Shares 59,000 Est. Cost $14.33 Unrealized +23.6%

ULBI ULTRALIFE CORP 0.5%

Value ($000) $711 Shares 109,000 Est. Cost $7.57 Unrealized -17.4%

CVGI COMMERCIAL VEHICLE GROUP INC 0.1%

Value ($000) $151 Shares 44,228 Est. Cost $1.83 Unrealized -9.7%

IIIV I3 VERTICALS INC-CLASS A 0.5%

Value ($000) $671 Shares 30,000 Est. Cost $30.14 Unrealized -22.0%

CWCO CONSOLIDATED WATER CO-ORD SH 0.7%

Value ($000) $1,007 Shares 30,400 Est. Cost $31.58 Unrealized +17.0%

BMI BADGER METER INC 0.3%

Value ($000) $495 Shares 3,250 Est. Cost $195.98 Unrealized -17.5%

SMP STANDARD MOTOR PRODS 0.8%

Value ($000) $1,129 Shares 32,500 Est. Cost $36.63 Unrealized +12.6%

SBGI SINCLAIR INC 0.3%

Value ($000) $373 Shares 28,800 Est. Cost $14.35 Unrealized +2.7%

LEE LEE ENTERPRISES 0.1%

Value ($000) $146 Shares 17,000 Est. Cost $5.06 Unrealized +18.6%

EML EASTERN CO/THE 1.8%

Value ($000) $2,605 Shares 128,700 Est. Cost $23.37 Unrealized -21.2%

TNC TENNANT CO 0.4%

Value ($000) $564 Shares 8,500 Est. Cost $81.24 Unrealized -4.1%

RGCO RGC RESOURCES INC 1.5%

Value ($000) $2,084 Shares 94,500 Est. Cost $21.91 Unrealized -2.0%

CCBG CAPITAL CITY BANK GROUP INC 2.1%

Value ($000) $2,934 Shares 67,500 Est. Cost $41.18 Unrealized +4.7%

DHX DHI GROUP INC 0.1%

Value ($000) $126 Shares 45,000 Est. Cost $2.77 Unrealized -27.6%

SSP EW SCRIPPS CO NEW 0.5%

Value ($000) $763 Shares 205,000 Est. Cost $2.31 Unrealized +54.4%

FSBW FS BANCORP INC 0.6%

Value ($000) $810 Shares 21,000 Est. Cost $40.30 Unrealized +2.9%

NRIM NORTHRIM BANCORP INC 0.2%

Value ($000) $311 Shares 13,600 Est. Cost $22.41 Unrealized +16.1%

HWKN HAWKINS INC 0.5%

Value ($000) $660 Shares 4,300 Est. Cost $167.14 Unrealized -12.5%

INFU INFUSYSTEM HOLDINGS INC 1.2%

Value ($000) $1,708 Shares 185,000 Est. Cost $8.30 Unrealized -0.6%

ACU ACME UNITED CORP 0.3%

Value ($000) $449 Shares 10,000 Est. Cost $41.77 Unrealized +3.2%

EXEL EXELIXIS INC 1.4%

Value ($000) $1,951 Shares 45,500 Est. Cost $40.19 Unrealized +8.9%

CWT CALIFORNIA WATER SERVICE GRP 0.6%

Value ($000) $910 Shares 20,060 Est. Cost $45.27 Unrealized -1.5%

DGII DIGI INTERNATIONAL INC 0.3%

Value ($000) $386 Shares 8,000 Est. Cost $34.37 Unrealized +31.5%

DWSN DAWSON GEOPHYSICAL CO 0.0%

Value ($000) $69 Shares 20,000 Est. Cost $1.52 Unrealized +49.3%

GTN/A GRAY MEDIA INC-A 0.8%

Value ($000) $1,080 Shares 87,000 Est. Cost $10.30 Unrealized +23.8%

MTX MINERALS TECHNOLOGIES INC 0.2%

Value ($000) $248 Shares 3,500 Est. Cost $60.71 Unrealized +12.8%

TSQ TOWNSQUARE MEDIA INC - CL A 0.4%

Value ($000) $624 Shares 115,000 Est. Cost $7.24 Unrealized -13.1%

FRPH FRP HOLDINGS INC 0.5%

Value ($000) $766 Shares 35,000 Est. Cost $25.99 Unrealized -8.6%

IMAX IMAX CORP 0.8%

Value ($000) $1,140 Shares 30,000 Est. Cost $28.35 Unrealized +26.7%

PRSU PURSUIT ATTRACTIONS AND HOSP 0.3%

Value ($000) $366 Shares 10,000 Est. Cost $33.83 Unrealized +4.4%

UG UNITED GUARDIAN INC 0.3%

Value ($000) $360 Shares 53,761 Est. Cost $8.23 Unrealized -19.4%

LEGH LEGACY HOUSING CORP 0.4%

Value ($000) $613 Shares 30,000 Est. Cost $25.50 Unrealized -16.3%

FNB FNB CORP 0.8%

Value ($000) $1,179 Shares 70,500 Est. Cost $15.72 Unrealized +13.3%

CZNC CITIZENS & NORTHERN CORP 0.2%

Value ($000) $268 Shares 12,000 Est. Cost $19.06 Unrealized +15.8%

VLY VALLEY NATIONAL BANCORP 0.4%

Value ($000) $516 Shares 42,000 Est. Cost $9.99 Unrealized +26.6%

GDEN GOLDEN ENTERTAINMENT INC 0.9%

Value ($000) $1,335 Shares 50,000 Est. Cost $26.11 Unrealized +6.5%

RNST RENASANT CORP 0.6%

Value ($000) $922 Shares 25,530 Est. Cost $37.83 Unrealized +1.5%

TACT TRANSACT TECHNOLOGIES INC 0.1%

Value ($000) $107 Shares 32,500 Est. Cost $4.22 Unrealized -11.7%

PBI PITNEY BOWES INC 0.3%

Value ($000) $497 Shares 45,000 Est. Cost $11.65 Unrealized -10.3%

UBSI UNITED BANKSHARES INC 0.2%

Value ($000) $290 Shares 7,000 Est. Cost $37.28 Unrealized +13.6%

WNEB WESTERN NEW ENGLAND BANCORP 0.6%

Value ($000) $866 Shares 67,000 Est. Cost $11.25 Unrealized +18.2%

HNVR HANOVER BANCORP INC 0.2%

Value ($000) $291 Shares 13,500 Est. Cost $22.27 Unrealized +3.2%

JOUT JOHNSON OUTDOORS INC-A 0.2%

Value ($000) $233 Shares 5,000 Est. Cost $37.27 Unrealized +25.8%

TWI TITAN INTERNATIONAL INC 0.1%

Value ($000) $140 Shares 20,200 Est. Cost $8.92 Unrealized +8.4%

FFIC FLUSHING FINANCIAL CORP 1.0%

Value ($000) $1,382 Shares 90,000 Est. Cost $12.70 Unrealized +25.0%

OPK OPKO HEALTH INC 0.1%

Value ($000) $160 Shares 140,000 Est. Cost $1.37 Unrealized -7.8%

OPLN OPENLANE INC 0.5%

Value ($000) $758 Shares 26,000 Est. Cost $27.25 Unrealized +8.3%

GVA GRANITE CONSTRUCTION INC 0.3%

Value ($000) $420 Shares 3,500 Est. Cost $102.74 Unrealized +22.2%

MSA MSA SAFETY INC 0.5%

Value ($000) $672 Shares 4,100 Est. Cost $172.87 Unrealized +7.2%

ARLO ARLO TECHNOLOGIES INC 0.6%

Value ($000) $882 Shares 62,000 Est. Cost $17.00 Unrealized -24.7%

RDI READING INTERNATIONAL INC-A 0.1%

Value ($000) $157 Shares 139,000 Est. Cost $1.41 Unrealized -23.5%

WVVI WILLAMETTE VALLEY VINEYARDS 0.0%

Value ($000) $53 Shares 20,500 Est. Cost $4.65 Unrealized -40.1%

AAME ATLANTIC AMERICAN CORP 0.0%

Value ($000) $44 Shares 19,000 Est. Cost $2.76 Unrealized +1.0%

FRST PRIMIS FINANCIAL CORP 0.1%

Value ($000) $199 Shares 15,000 Est. Cost $10.93 Unrealized +24.5%

SSYS STRATASYS LTD 0.1%

Value ($000) $78 Shares 10,000 Est. Cost $10.78 Unrealized -1.1%

MSEX MIDDLESEX WATER CO 0.2%

Value ($000) $260 Shares 5,000 Est. Cost $53.50 Unrealized -1.4%

ARTNA ARTESIAN RESOURCES CORP-CL A 0.7%

Value ($000) $998 Shares 31,320 Est. Cost $32.34 Unrealized +1.4%

MTLS MATERIALISE NV-ADR 0.0%

Value ($000) $49 Shares 10,000 Est. Cost $5.57 Unrealized —

FMNB FARMERS NATL BANC CORP 0.3%

Value ($000) $497 Shares 37,800 Est. Cost $13.86 Unrealized -4.5%

DDD 3D SYSTEMS CORP 0.1%

Value ($000) $75 Shares 40,000 Est. Cost $2.06 Unrealized +10.2%

MATW MATTHEWS INTL CORP-CLASS A 0.1%

Value ($000) $207 Shares 8,000 Est. Cost $24.17 Unrealized +10.0%

FSS FEDERAL SIGNAL CORP 0.3%

Value ($000) $400 Shares 3,700 Est. Cost $119.82 Unrealized -3.9%

WNC WABASH NATIONAL CORP 0.3%

Value ($000) $372 Shares 43,200 Est. Cost $10.50 Unrealized +1.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ATEX	ANTERIX INC	53,000	$2,024	1.4%	$22.42	+22.2%	EQUITY	03676C100
GENC	GENCOR INDUSTRIES INC	247,700	$3,716	2.6%	$15.14	-5.6%	EQUITY	368678108
ROCK	GIBRALTAR INDUSTRIES INC	52,000	$2,073	1.5%	$62.56	-16.1%	EQUITY	374689107
PKOH	PARK-OHIO HOLDINGS CORP	154,300	$3,709	2.6%	$18.88	+27.6%	EQUITY	700666100
INSE	INSPIRED ENTERTAINMENT INC	202,900	$1,447	1.0%	$9.02	-1.9%	EQUITY	45782N108
MYRG	MYR GROUP INC/DELAWARE	6,000	$1,694	1.2%	$186.60	+36.2%	EQUITY	55405W104
MPX	MARINE PRODUCTS CORP	223,000	$1,621	1.1%	$8.53	+2.8%	EQUITY	568427108
TRC	TEJON RANCH CO	82,000	$1,545	1.1%	$17.44	-5.5%	EQUITY	879080109
NEO	NEOGENOMICS INC	53,100	$394	0.3%	$7.00	+68.9%	EQUITY	64049M209
MOV	MOVADO GROUP INC	57,004	$1,392	1.0%	$17.34	+35.4%	EQUITY	624580106
MNRO	MONRO INC	50,000	$802	0.6%	$16.53	+27.0%	EQUITY	610236101
ATEN	A10 NETWORKS INC	36,000	$832	0.6%	$17.94	+2.5%	EQUITY	002121101
AOUT	AMERICAN OUTDOOR BRANDS INC	116,957	$1,092	0.8%	$9.48	-5.8%	EQUITY	02875D109
CWST	CASELLA WASTE SYSTEMS INC-A	9,910	$786	0.6%	$100.67	+1.0%	EQUITY	147448104
MOD	MODINE MANUFACTURING CO	2,200	$477	0.3%	$127.24	+38.7%	EQUITY	607828100
AP	AMPCO-PITTSBURGH CORP	130,000	$874	0.6%	$2.94	+125.2%	EQUITY	032037103
RDVT	RED VIOLET INC	8,000	$277	0.2%	$47.41	-2.6%	EQUITY	75704L104
RDIB	READING INTERNATIONAL INC-B	74,360	$688	0.5%	$11.31	+5.3%	EQUITY	755408200
CMT	CORE MOLDING TECHNOLOGIES IN	70,890	$1,588	1.1%	$18.57	+4.4%	EQUITY	218683100
VPG	VISHAY PRECISION GROUP	30,035	$1,304	0.9%	$28.94	+59.7%	EQUITY	92835K103
TITN	TITAN MACHINERY INC	86,000	$1,438	1.0%	$19.61	-10.8%	EQUITY	88830R101
GENI	GENIUS SPORTS LTD	20,000	$89	0.1%	$11.96	-30.5%	EQUITY	G3934V109
WASH	WASHINGTON TRUST BANCORP	33,280	$1,114	0.8%	$27.83	+18.4%	EQUITY	940610108
KE	KIMBALL ELECTRONICS INC	31,000	$734	0.5%	$24.66	+13.5%	EQUITY	49428J109
GTN	GRAY MEDIA INC	236,740	$1,027	0.7%	$5.43	-15.8%	EQUITY	389375106
ARKO	ARKO CORP	115,000	$639	0.4%	$4.67	+18.3%	EQUITY	041242108
ELMD	ELECTROMED INC	20,000	$468	0.3%	$21.20	+28.9%	EQUITY	285409108
TYL	TYLER TECHNOLOGIES INC	1,000	$342	0.2%	$561.33	-31.4%	EQUITY	902252105
MCS	MARCUS CORPORATION	65,000	$1,116	0.8%	$16.04	-2.5%	EQUITY	566330106
BRBR	BELLRING BRANDS INC	10,000	$161	0.1%	$45.18	-50.9%	EQUITY	07831C103
SAMG	SILVERCREST ASSET MANAGEME-A	53,500	$719	0.5%	$16.31	-6.6%	EQUITY	828359109
ICFI	ICF INTERNATIONAL INC	5,000	$326	0.2%	$92.67	-5.5%	EQUITY	44925C103
RUSHA	RUSH ENTERPRISES INC-CL A	8,000	$529	0.4%	$55.65	+18.3%	EQUITY	781846209
FLWS	1-800-FLOWERS.COM INC-CL A	105,800	$322	0.2%	$5.52	-26.8%	EQUITY	68243Q106
RES	RPC INC	58,000	$411	0.3%	$4.63	+28.7%	EQUITY	749660106
VALU	VALUE LINE INC	29,958	$1,057	0.7%	$38.27	-2.7%	EQUITY	920437100
LMNR	LIMONEIRA CO	113,000	$1,516	1.1%	$15.29	-8.3%	EQUITY	532746104
WSBF	WATERSTONE FINANCIAL INC	59,000	$1,064	0.7%	$14.33	+23.6%	EQUITY	94188P101
ULBI	ULTRALIFE CORP	109,000	$711	0.5%	$7.57	-17.4%	EQUITY	903899102
CVGI	COMMERCIAL VEHICLE GROUP INC	44,228	$151	0.1%	$1.83	-9.7%	EQUITY	202608105
IIIV	I3 VERTICALS INC-CLASS A	30,000	$671	0.5%	$30.14	-22.0%	EQUITY	46571Y107
CWCO	CONSOLIDATED WATER CO-ORD SH	30,400	$1,007	0.7%	$31.58	+17.0%	EQUITY	G23773107
BMI	BADGER METER INC	3,250	$495	0.3%	$195.98	-17.5%	EQUITY	056525108
SMP	STANDARD MOTOR PRODS	32,500	$1,129	0.8%	$36.63	+12.6%	EQUITY	853666105
SBGI	SINCLAIR INC	28,800	$373	0.3%	$14.35	+2.7%	EQUITY	829242106
LEE	LEE ENTERPRISES	17,000	$146	0.1%	$5.06	+18.6%	EQUITY	523768406
EML	EASTERN CO/THE	128,700	$2,605	1.8%	$23.37	-21.2%	EQUITY	276317104
TNC	TENNANT CO	8,500	$564	0.4%	$81.24	-4.1%	EQUITY	880345103
RGCO	RGC RESOURCES INC	94,500	$2,084	1.5%	$21.91	-2.0%	EQUITY	74955L103
CCBG	CAPITAL CITY BANK GROUP INC	67,500	$2,934	2.1%	$41.18	+4.7%	EQUITY	139674105
DHX	DHI GROUP INC	45,000	$126	0.1%	$2.77	-27.6%	EQUITY	23331S100
SSP	EW SCRIPPS CO NEW	205,000	$763	0.5%	$2.31	+54.4%	EQUITY	811054402
FSBW	FS BANCORP INC	21,000	$810	0.6%	$40.30	+2.9%	EQUITY	30263Y104
NRIM	NORTHRIM BANCORP INC	13,600	$311	0.2%	$22.41	+16.1%	EQUITY	666762109
HWKN	HAWKINS INC	4,300	$660	0.5%	$167.14	-12.5%	EQUITY	420261109
INFU	INFUSYSTEM HOLDINGS INC	185,000	$1,708	1.2%	$8.30	-0.6%	EQUITY	45685K102
ACU	ACME UNITED CORP	10,000	$449	0.3%	$41.77	+3.2%	EQUITY	004816104
EXEL	EXELIXIS INC	45,500	$1,951	1.4%	$40.19	+8.9%	EQUITY	30161Q104
CWT	CALIFORNIA WATER SERVICE GRP	20,060	$910	0.6%	$45.27	-1.5%	EQUITY	130788102
DGII	DIGI INTERNATIONAL INC	8,000	$386	0.3%	$34.37	+31.5%	EQUITY	253798102
DWSN	DAWSON GEOPHYSICAL CO	20,000	$69	0.0%	$1.52	+49.3%	EQUITY	239360100
GTN/A	GRAY MEDIA INC-A	87,000	$1,080	0.8%	$10.30	+23.8%	EQUITY	389375205
MTX	MINERALS TECHNOLOGIES INC	3,500	$248	0.2%	$60.71	+12.8%	EQUITY	603158106
TSQ	TOWNSQUARE MEDIA INC - CL A	115,000	$624	0.4%	$7.24	-13.1%	EQUITY	892231101
FRPH	FRP HOLDINGS INC	35,000	$766	0.5%	$25.99	-8.6%	EQUITY	30292L107
IMAX	IMAX CORP	30,000	$1,140	0.8%	$28.35	+26.7%	EQUITY	45245E109
PRSU	PURSUIT ATTRACTIONS AND HOSP	10,000	$366	0.3%	$33.83	+4.4%	EQUITY	92552R406
UG	UNITED GUARDIAN INC	53,761	$360	0.3%	$8.23	-19.4%	EQUITY	910571108
LEGH	LEGACY HOUSING CORP	30,000	$613	0.4%	$25.50	-16.3%	EQUITY	52472M101
FNB	FNB CORP	70,500	$1,179	0.8%	$15.72	+13.3%	EQUITY	302520101
CZNC	CITIZENS & NORTHERN CORP	12,000	$268	0.2%	$19.06	+15.8%	EQUITY	172922106
VLY	VALLEY NATIONAL BANCORP	42,000	$516	0.4%	$9.99	+26.6%	EQUITY	919794107
GDEN	GOLDEN ENTERTAINMENT INC	50,000	$1,335	0.9%	$26.11	+6.5%	EQUITY	381013101
RNST	RENASANT CORP	25,530	$922	0.6%	$37.83	+1.5%	EQUITY	75970E107
TACT	TRANSACT TECHNOLOGIES INC	32,500	$107	0.1%	$4.22	-11.7%	EQUITY	892918103
PBI	PITNEY BOWES INC	45,000	$497	0.3%	$11.65	-10.3%	EQUITY	724479100
UBSI	UNITED BANKSHARES INC	7,000	$290	0.2%	$37.28	+13.6%	EQUITY	909907107
WNEB	WESTERN NEW ENGLAND BANCORP	67,000	$866	0.6%	$11.25	+18.2%	EQUITY	958892101
HNVR	HANOVER BANCORP INC	13,500	$291	0.2%	$22.27	+3.2%	EQUITY	410709109
JOUT	JOHNSON OUTDOORS INC-A	5,000	$233	0.2%	$37.27	+25.8%	EQUITY	479167108
TWI	TITAN INTERNATIONAL INC	20,200	$140	0.1%	$8.92	+8.4%	EQUITY	88830M102
FFIC	FLUSHING FINANCIAL CORP	90,000	$1,382	1.0%	$12.70	+25.0%	EQUITY	343873105
OPK	OPKO HEALTH INC	140,000	$160	0.1%	$1.37	-7.8%	EQUITY	68375N103
OPLN	OPENLANE INC	26,000	$758	0.5%	$27.25	+8.3%	EQUITY	48238T109
GVA	GRANITE CONSTRUCTION INC	3,500	$420	0.3%	$102.74	+22.2%	EQUITY	387328107
MSA	MSA SAFETY INC	4,100	$672	0.5%	$172.87	+7.2%	EQUITY	553498106
ARLO	ARLO TECHNOLOGIES INC	62,000	$882	0.6%	$17.00	-24.7%	EQUITY	04206A101
RDI	READING INTERNATIONAL INC-A	139,000	$157	0.1%	$1.41	-23.5%	EQUITY	755408101
WVVI	WILLAMETTE VALLEY VINEYARDS	20,500	$53	0.0%	$4.65	-40.1%	EQUITY	969136100
AAME	ATLANTIC AMERICAN CORP	19,000	$44	0.0%	$2.76	+1.0%	EQUITY	048209100
FRST	PRIMIS FINANCIAL CORP	15,000	$199	0.1%	$10.93	+24.5%	EQUITY	74167B109
SSYS	STRATASYS LTD	10,000	$78	0.1%	$10.78	-1.1%	EQUITY	M85548101
MSEX	MIDDLESEX WATER CO	5,000	$260	0.2%	$53.50	-1.4%	EQUITY	596680108
ARTNA	ARTESIAN RESOURCES CORP-CL A	31,320	$998	0.7%	$32.34	+1.4%	EQUITY	043113208
MTLS	MATERIALISE NV-ADR	10,000	$49	0.0%	$5.57	—	DEPOSITORY RECEI	57667T100
FMNB	FARMERS NATL BANC CORP	37,800	$497	0.3%	$13.86	-4.5%	EQUITY	309627107
DDD	3D SYSTEMS CORP	40,000	$75	0.1%	$2.06	+10.2%	EQUITY	88554D205
MATW	MATTHEWS INTL CORP-CLASS A	8,000	$207	0.1%	$24.17	+10.0%	EQUITY	577128101
FSS	FEDERAL SIGNAL CORP	3,700	$400	0.3%	$119.82	-3.9%	EQUITY	313855108
WNC	WABASH NATIONAL CORP	43,200	$372	0.3%	$10.50	+1.0%	EQUITY	929566107