Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LSAK	NET 1 UEPS TECHNOLOGIES INC	1,749,613	$10.27M	8.9%	$5.47	-6.4%	COMM	64107N206
IWM	ISHARES RUSSELL 2000	42,500	$8.724M	7.5%	—	—	Put	464287655
INSE	INSPIRED ENTERTAINMENT INC	529,050	$6.507M	5.6%	$13.20	+1.3%	COMM	45782N108
—	TRAVELCENTERS OF AMERICA INC	145,052	$6.231M	5.4%	$51.39	—	COMM	89421B109
SATS	ECHOSTAR HOLDING CORP-A	222,600	$5.418M	4.7%	$28.89	-14.7%	COMM	278768106
KVHI	KVH INDUSTRIES INC	571,100	$5.197M	4.5%	$10.04	-10.9%	COMM	482738101
—	Bluegreen Vacations Holding Co	150,300	$4.444M	3.8%	$35.10	—	COMM	096308101
GPGI	COMPOSECURE INC	478,195	$3.629M	3.1%	$8.16	-23.8%	COMM	20459V105
BW	BABCOCK & WILCOX ENTERPR	376,336	$3.071M	2.6%	$8.01	-2.7%	COMM	05614L209
UIS	UNISYS CORP	141,000	$3.047M	2.6%	$19.70	+2.8%	COMM	909214306
—	TILE SHOP HLDGS INC	450,000	$2.948M	2.5%	$7.13	—	COMM	88677Q109
—	ATLAS AIR WORLDWIDE HOLDINGS	32,300	$2.79M	2.4%	$94.12	—	COMM	049164205
—	LIONS GATE ENTERTAINMENT-A	158,602	$2.577M	2.2%	$16.60	—	COMM	535919401
—	BENEFITFOCUS INC	191,000	$2.41M	2.1%	$12.11	—	COMM	08180D106
—	SEQUANS COMMUNICATIONS-ADR	759,100	$2.308M	2.0%	$4.62	—	ADRS	817323207
—	INTEVAC INC	393,300	$2.104M	1.8%	$4.71	—	COMM	461148108
—	EXTERRAN CORP	324,719	$2.017M	1.7%	$2.98	—	COMM	30227H106
DSP	VIANT TECHNOLOGY INC-A	296,754	$1.944M	1.7%	$7.63	0.0%	COMM	92557A101
YTRA	YATRA ONLINE INC	788,488	$1.561M	1.3%	$2.05	-16.8%	COMM	G98338109
EOLS	EVOLUS INC	136,000	$1.526M	1.3%	$6.90	+23.5%	COMM	30052C107
CNXX	CONX CORP	149,268	$1.47M	1.3%	$9.83	—	WRNT	212873103
DHC	Diversified Healthcare Trust	451,500	$1.445M	1.2%	$3.09	—	REIT	25525P107
—	ENZO BIOCHEM INC	496,805	$1.441M	1.2%	$3.03	—	COMM	294100102
—	VERTEX ENERGY INC	145,000	$1.441M	1.2%	$6.02	—	COMM	92534K107
ALLT	ALLOT COMMUNICATIONS LTD	177,738	$1.44M	1.2%	$9.12	0.0%	COMM	M0854Q105
ADMA	ADMA BIOLOGICS INC	775,000	$1.418M	1.2%	$1.31	+18.7%	COMM	000899104
—	ABSOLUTE SOFTWARE CORPORATIO	166,705	$1.414M	1.2%	$8.70	—	COMM	00386B109
—	PFSWEB INC NEW	115,000	$1.314M	1.1%	$11.43	—	COMM	717098206
—	AUDACY INC	439,855	$1.271M	1.1%	$2.57	—	COMM	05070N103
PESI	PERMA-FIX ENVIRONMENTAL SVCS	205,400	$1.136M	1.0%	$6.92	-15.4%	COMM	714157203
SCVL	SHOE CARNIVAL INC	38,300	$1.117M	1.0%	$37.16	-12.3%	COMM	824889109
BAC	BANK OF AMERICA CORP	27,080	$1.116M	1.0%	$41.02	-0.5%	COMM	060505104
FPH	FIVE POINT HOLDINGS LLC-CL A	170,218	$1.04M	0.9%	$6.75	-9.3%	COMM	33833Q106
III	INFORMATION SERVICES GROUP	149,000	$1.015M	0.9%	$6.91	-12.1%	COMM	45675Y104
STKS	ONE GROUP HOSPITALITY INC	94,989	$998K	0.9%	$12.61	—	COMM	88338K103
FC	FRANKLIN COVEY CO	20,600	$932K	0.8%	$44.35	+4.5%	COMM	353469109
XBI	SPDR S&P BIOTECH ETF	10,000	$899K	0.8%	—	—	Call	78464A870
—	XCEL BRANDS INC	582,392	$868K	0.7%	$1.21	—	COMM	98400M101
OEC	ORION ENGINEERED CARBONS SAR	48,046	$767K	0.7%	$18.63	-7.5%	COMM	L72967109
—	TECHPRECISION CORP	450,000	$761K	0.7%	$1.69	—	COMM	878739101
—	IMEDIA BRANDS INC-CL A	120,000	$724K	0.6%	$6.00	—	COMM	452465206
RDNW	RUMBLEON INC-B	20,297	$694K	0.6%	$39.86	-15.5%	COMM	781386305
DSP	VIANT TECHNOLOGY INC-A	105,000	$689K	0.6%	$7.63	0.0%	Call	92557A101
SATS	ECHOSTAR HOLDING CORP-A	28,000	$682K	0.6%	$28.89	-14.7%	Call	278768106
—	SPARK NETWORKS SE-ADR-W/I	248,889	$672K	0.6%	$3.14	—	ADRS	846517100
LTRX	LANTRONIX INC	94,478	$631K	0.5%	$7.58	-6.2%	COMM	516548203
PCYO	PURE CYCLE CORP	50,200	$603K	0.5%	$5.59	+121.7%	COMM	746228303
FTHM	FATHOM HOLDINGS INC	54,500	$583K	0.5%	$23.31	-40.4%	COMM	31189V109
—	ATHIRA PHARMA INC	40,000	$540K	0.5%	$13.03	—	COMM	04746L104
CNDT	CONDUENT INC	104,300	$538K	0.5%	$5.87	-16.3%	COMM	206787103
—	SIERRA WIRELESS INC	29,631	$535K	0.5%	$17.62	—	COMM	826516106
FLL	FULL HOUSE RESORTS INC	55,000	$529K	0.5%	$10.83	-14.3%	COMM	359678109
RELL	RICHARDSON ELEC LTD	42,300	$526K	0.5%	$10.97	+4.9%	COMM	763165107
AIOT	POWERFLEET INC	170,000	$505K	0.4%	$6.24	-41.3%	COMM	73931J109
RICK	RCI HOSPITALITY HOLDINGS INC	8,200	$504K	0.4%	$20.54	+238.8%	COMM	74934Q108
—	DISH NETWORK CORP CL A	15,112	$478K	0.4%	$58.35	—	COMM	25470M109
CSSEQ	CHICKEN SOUP FOR THE SOUL EN	57,900	$463K	0.4%	$17.29	-39.6%	COMM	16842Q100
SPB	SPECTRUM BRANDS HOLDINGS INC	5,000	$444K	0.4%	$91.94	0.0%	Call	84790A105
WDC	WESTERN DIGITAL CORP	8,200	$407K	0.4%	$43.29	-5.5%	COMM	958102105
—	INSEEGO CORP	100,000	$405K	0.3%	$5.83	—	COMM	45782B104
ASPU	ASPEN GROUP INC	233,000	$377K	0.3%	$3.72	-53.9%	COMM	04530L203
DHC	Diversified Healthcare Trust	100,000	$320K	0.3%	$3.09	—	Call	25525P107
—	POWERSCHOOL HOLDINGS INC-A	18,100	$299K	0.3%	$16.52	—	COMM	73939C106
ITRN	ITURAN LOCATION AND CONTROL	10,800	$249K	0.2%	$26.25	-11.3%	COMM	M6158M104
VUZI	VUZIX CORP	33,857	$223K	0.2%	$6.58	0.0%	COMM	92921W300
—	AUDACY INC	75,000	$217K	0.2%	$2.57	—	Call	05070N103
TACT	TRANSACT TECHNOLOGIES INC	29,733	$210K	0.2%	$12.27	-27.6%	COMM	892918103
—	QUOTIENT LTD	150,000	$180K	0.2%	$2.45	—	COMM	G73268107
SPB	SPECTRUM BRANDS HOLDINGS INC	2,000	$177K	0.2%	$91.94	0.0%	COMM	84790A105
—	PERFORMANT FINANCIAL CORP	50,200	$156K	0.1%	$3.11	—	COMM	71377E105
ZVOI	ZOVIO INC	141,400	$116K	0.1%	$1.75	-35.8%	COMM	98979V102
TZOO	TRAVELZOO INC	17,279	$113K	0.1%	$10.56	-19.7%	COMM	89421Q205
CNDT	CONDUENT INC	20,000	$103K	0.1%	$5.87	-16.3%	Call	206787103
—	ASPIRA WOMENS HEALTH INC	86,897	$90,000	0.1%	$1.77	—	COMM	04537Y109