Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NPK	NATIONAL PRESTO INDS INC	32,282	$4.035M	1.0%	—	—	COM	637215104
ATRC	ATRICURE INC	138,490	$3.875M	1.0%	—	—	COM	04963C209
CERS	CERUS CORP	1,051,676	$3.071M	0.8%	—	—	COM	157085101
SIF	SIFCO INDS INC	35,610	$833K	0.2%	—	—	COM	826546103
SMID	SMITH MIDLAND CORP	20,012	$580K	0.2%	—	—	COM	832156103
PPIH	PERMA-PIPE INTL HLDGS INC	16,561	$451K	0.1%	—	—	COM	714167103
TAYD	TAYLOR DEVICES INC	4,427	$260K	0.1%	—	—	COM	877163105
ISSC	INNOVATIVE SOLUTIONS & SUPPO	13,424	$242K	0.1%	—	—	COM	45769N105
MLAB	MESA LABS INC	2,374	$236K	0.1%	—	—	COM	59064R109

Increased Positions (2)

ZVIA ZEVIA PBC 3.0%

Value $11.7M (+48.2%) Shares 7,177,524 (+6.4%) Est. Cost — Unrealized —

MRDN MERIDIAN HOLDINGS INC 0.7%

Value $2.595M (+156.3%) Shares 186,440 (+32.9%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ZVIA	ZEVIA PBC	7,177,524 (+6.4%)	$11.7M (+48.2%)	3.0%	—	—	CL A	98955K104
MRDN	MERIDIAN HOLDINGS INC	186,440 (+32.9%)	$2.595M (+156.3%)	0.7%	—	—	COM	381098409

Exited Positions (16)

MNDY MONDAY COM LTD 6.5%

Value $25.15M Shares 363,974 Est. Cost — Unrealized —

UNF UNIFIRST CORP MASS 2.6%

Value $10.14M Shares 40,318 Est. Cost — Unrealized —

CERT CERTARA INC 1.1%

Value $4.272M Shares 749,497 Est. Cost — Unrealized —

PLTK PLAYTIKA HLDG CORP 0.7%

Value $2.545M Shares 915,621 Est. Cost — Unrealized —

INMD INMODE LTD 0.6%

Value $2.485M Shares 181,649 Est. Cost — Unrealized —

DSP VIANT TECHNOLOGY INC 0.6%

Value $2.172M Shares 193,886 Est. Cost — Unrealized —

QTRX QUANTERIX CORP 0.5%

Value $1.982M Shares 563,135 Est. Cost — Unrealized —

TTD THE TRADE DESK INC 0.4%

Value $1.352M Shares 59,572 Est. Cost — Unrealized —

TENB TENABLE HLDGS INC 0.3%

Value $1.182M Shares 69,904 Est. Cost — Unrealized —

NPCE NEUROPACE INC 0.3%

Value $1.064M Shares 80,945 Est. Cost — Unrealized —

JRVR JAMES RIV GROUP HOLDINGS INC 0.3%

Value $1.034M Shares 164,194 Est. Cost — Unrealized —

PRPO PRECIPIO INC 0.2%

Value $616K Shares 24,624 Est. Cost — Unrealized —

CRCT CRICUT INC 0.1%

Value $460K Shares 123,061 Est. Cost — Unrealized —

NTWK NETSOL TECHNOLOGIES INC 0.1%

Value $266K Shares 78,375 Est. Cost — Unrealized —

SOTK SONO TEK CORP 0.0%

Value $143K Shares 35,159 Est. Cost — Unrealized —

SSTI SOUNDTHINKING INC 0.0%

Value $84,220 Shares 12,722 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MNDY	MONDAY COM LTD	363,974	$25.15M	6.5%	—	—	—	M7S64H106
UNF	UNIFIRST CORP MASS	40,318	$10.14M	2.6%	—	—	—	904708104
CERT	CERTARA INC	749,497	$4.272M	1.1%	—	—	—	15687V109
PLTK	PLAYTIKA HLDG CORP	915,621	$2.545M	0.7%	—	—	—	72815L107
INMD	INMODE LTD	181,649	$2.485M	0.6%	—	—	—	M5425M103
DSP	VIANT TECHNOLOGY INC	193,886	$2.172M	0.6%	—	—	—	92557A101
QTRX	QUANTERIX CORP	563,135	$1.982M	0.5%	—	—	—	74766Q101
TTD	THE TRADE DESK INC	59,572	$1.352M	0.4%	—	—	—	88339J105
TENB	TENABLE HLDGS INC	69,904	$1.182M	0.3%	—	—	—	88025T102
NPCE	NEUROPACE INC	80,945	$1.064M	0.3%	—	—	—	641288105
JRVR	JAMES RIV GROUP HOLDINGS INC	164,194	$1.034M	0.3%	—	—	—	46990A102
PRPO	PRECIPIO INC	24,624	$616K	0.2%	—	—	—	74019L602
CRCT	CRICUT INC	123,061	$460K	0.1%	—	—	—	22658D100
NTWK	NETSOL TECHNOLOGIES INC	78,375	$266K	0.1%	—	—	—	64115A402
SOTK	SONO TEK CORP	35,159	$143K	0.0%	—	—	—	835483108
SSTI	SOUNDTHINKING INC	12,722	$84,220	0.0%	—	—	—	82536T107

Decreased Positions (21)

FRSH FRESHWORKS INC 0.0%

Value $110K (-99.8%) Shares 10,860 (-99.8%) Est. Cost — Unrealized —

NRDS NERDWALLET INC 7.9%

Value $30.43M (-44.2%) Shares 3,289,285 (-37.4%) Est. Cost — Unrealized —

S SENTINELONE INC 0.6%

Value $2.173M (-90.5%) Shares 128,038 (-92.8%) Est. Cost — Unrealized —

WK WORKIVA INC 11.0%

Value $42.26M (-32.5%) Shares 871,101 (-17.0%) Est. Cost — Unrealized —

MITK MITEK SYS INC 0.5%

Value $1.892M (-91.3%) Shares 93,985 (-94.2%) Est. Cost — Unrealized —

DV DOUBLEVERIFY HLDGS INC 9.0%

Value $34.85M (-27.0%) Shares 3,214,515 (-36.0%) Est. Cost — Unrealized —

CGNT COGNYTE SOFTWARE LTD 7.2%

Value $27.6M (-30.6%) Shares 3,143,271 (-36.0%) Est. Cost — Unrealized —

SPT SPROUT SOCIAL INC 1.0%

Value $3.788M (-75.6%) Shares 501,772 (-81.6%) Est. Cost — Unrealized —

NUTX NUTEX HEALTH INC 1.9%

Value $7.137M (-57.8%) Shares 41,764 (-76.5%) Est. Cost — Unrealized —

LAW CS DISCO INC 1.4%

Value $5.544M (-44.7%) Shares 1,466,665 (-44.1%) Est. Cost — Unrealized —

DCBO DOCEBO INC 3.1%

Value $11.9M (-22.5%) Shares 664,727 (-24.4%) Est. Cost — Unrealized —

CTKB CYTEK BIOSCIENCES INC 7.2%

Value $27.84M (-9.8%) Shares 6,283,450 (-11.1%) Est. Cost — Unrealized —

NABL N-ABLE INC 1.8%

Value $6.98M (-23.4%) Shares 1,902,005 (-2.6%) Est. Cost — Unrealized —

OPXS OPTEX SYS HLDGS INC 1.6%

Value $6.305M (-17.7%) Shares 449,363 (-22.4%) Est. Cost — Unrealized —

ELA ENVELA CORP 3.1%

Value $11.93M (-8.2%) Shares 413,150 (-47.0%) Est. Cost — Unrealized —

SLP SIMULATIONS PLUS INC 0.4%

Value $1.546M (-40.1%) Shares 84,412 (-61.3%) Est. Cost — Unrealized —

RSSS RESEARCH SOLUTIONS INC 0.0%

Value $26,518 (-97.5%) Shares 11,430 (-97.5%) Est. Cost — Unrealized —

KRMD KORU MEDICAL SYSTEMS INC 3.7%

Value $14.17M (-6.7%) Shares 3,373,842 (-4.0%) Est. Cost — Unrealized —

DIBS 1STDIBS COM INC 0.0%

Value $50,254 (-87.6%) Shares 10,256 (-86.1%) Est. Cost — Unrealized —

TRC TEJON RANCH CO 0.4%

Value $1.594M (-10.3%) Shares 85,229 (-9.7%) Est. Cost — Unrealized —

NEPH NEPHROS INC 0.5%

Value $1.912M (+10.3%) Shares 535,698 (-8.0%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
FRSH	FRESHWORKS INC	10,860 (-99.8%)	$110K (-99.8%)	0.0%	—	—	CLASS A COM	358054104
NRDS	NERDWALLET INC	3,289,285 (-37.4%)	$30.43M (-44.2%)	7.9%	—	—	COM CL A	64082B102
S	SENTINELONE INC	128,038 (-92.8%)	$2.173M (-90.5%)	0.6%	—	—	CL A	81730H109
WK	WORKIVA INC	871,101 (-17.0%)	$42.26M (-32.5%)	11.0%	—	—	COM CL A	98139A105
MITK	MITEK SYS INC	93,985 (-94.2%)	$1.892M (-91.3%)	0.5%	—	—	COM NEW	606710200
DV	DOUBLEVERIFY HLDGS INC	3,214,515 (-36.0%)	$34.85M (-27.0%)	9.0%	—	—	COM	25862V105
CGNT	COGNYTE SOFTWARE LTD	3,143,271 (-36.0%)	$27.6M (-30.6%)	7.2%	—	—	ORD SHS	M25133105
SPT	SPROUT SOCIAL INC	501,772 (-81.6%)	$3.788M (-75.6%)	1.0%	—	—	COM CL A	85209W109
NUTX	NUTEX HEALTH INC	41,764 (-76.5%)	$7.137M (-57.8%)	1.9%	—	—	COM	67079U306
LAW	CS DISCO INC	1,466,665 (-44.1%)	$5.544M (-44.7%)	1.4%	—	—	COM	126327105
DCBO	DOCEBO INC	664,727 (-24.4%)	$11.9M (-22.5%)	3.1%	—	—	COM	25609L105
CTKB	CYTEK BIOSCIENCES INC	6,283,450 (-11.1%)	$27.84M (-9.8%)	7.2%	—	—	COM	23285D109
NABL	N-ABLE INC	1,902,005 (-2.6%)	$6.98M (-23.4%)	1.8%	—	—	COMMON STOCK	62878D100
OPXS	OPTEX SYS HLDGS INC	449,363 (-22.4%)	$6.305M (-17.7%)	1.6%	—	—	COM NEW	68384X209
ELA	ENVELA CORP	413,150 (-47.0%)	$11.93M (-8.2%)	3.1%	—	—	COM	29402E102
SLP	SIMULATIONS PLUS INC	84,412 (-61.3%)	$1.546M (-40.1%)	0.4%	—	—	COM	829214105
RSSS	RESEARCH SOLUTIONS INC	11,430 (-97.5%)	$26,518 (-97.5%)	0.0%	—	—	COM	761025105
KRMD	KORU MEDICAL SYSTEMS INC	3,373,842 (-4.0%)	$14.17M (-6.7%)	3.7%	—	—	COM	759910102
DIBS	1STDIBS COM INC	10,256 (-86.1%)	$50,254 (-87.6%)	0.0%	—	—	COM	320551104
TRC	TEJON RANCH CO	85,229 (-9.7%)	$1.594M (-10.3%)	0.4%	—	—	COM	879080109
NEPH	NEPHROS INC	535,698 (-8.0%)	$1.912M (+10.3%)	0.5%	—	—	COM	640671400

Unchanged Positions (4)

PAYS PAYSIGN INC 9.9%

Value $37.99M Shares 4,639,061 Est. Cost — Unrealized —

PRAA PRA GROUP INC 18.9%

Value $73.02M Shares 3,845,334 Est. Cost — Unrealized —

ACCS ACCESS NEWSWIRE INC 1.2%

Value $4.61M Shares 709,264 Est. Cost — Unrealized —

HGBL HERITAGE GLOBAL INC 0.6%

Value $2.16M Shares 1,785,488 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
PAYS	PAYSIGN INC	4,639,061	$37.99M	9.9%	—	—	COM	70451A104
PRAA	PRA GROUP INC	3,845,334	$73.02M	18.9%	—	—	COM	69354N106
ACCS	ACCESS NEWSWIRE INC	709,264	$4.61M	1.2%	—	—	COM NEW	46520M204
HGBL	HERITAGE GLOBAL INC	1,785,488	$2.16M	0.6%	—	—	COM	42727E103