Meros Investment Management, LP Concentrated Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
OPRT	OPORTUN FINL CORP	726,385	$3,349	1.5%	$5.30	0.0%	COM	68376D104
PSIX	POWER SOLUTIONS INTL INC	39,266	$2,391	1.0%	$78.59	0.0%	COM NEW	73933G202
PPIH	PERMA-PIPE INTL HLDGS INC	62,298	$1,857	0.8%	$31.51	0.0%	COM	714167103
CBRL	CRACKER BARREL OLD CTRY STOR	65,000	$1,827	0.8%	$31.41	0.0%	COM	22410J106
BJRI	BJS RESTAURANTS INC	49,000	$1,720	0.7%	$42.76	0.0%	COM	09180C106
AP	AMPCO-PITTSBURG CORP	214,850	$1,444	0.6%	$6.61	0.0%	COM	032037103
SVV	SAVERS VALUE VLG INC	154,816	$1,152	0.5%	$10.44	0.0%	COM	80517M109
TGEN	TECOGEN INC NEW	291,705	$747	0.3%	$4.21	0.0%	COM NEW	87876P201
CODA	CODA OCTOPUS GROUP INC	24,310	$275	0.1%	$11.64	0.0%	COM NEW	19188U206

Increased Positions (14)

BBW BUILD-A-BEAR WORKSHOP INC 2.5%

Value ($000) $5,697 (-36.7%) Shares 152,126 (+3.5%) Est. Cost $54.43 Unrealized +8.7%

PHR PHRESSIA INC 2.2%

Value ($000) $5,160 (-36.2%) Shares 615,740 (+28.7%) Est. Cost $22.28 Unrealized -36.0%

AMPL AMPLITUDE 3.4%

Value ($000) $7,937 (-20.5%) Shares 1,163,826 (+35.0%) Est. Cost $10.87 Unrealized -18.1%

WERN WERNER ENTERPRISES INC 1.7%

Value ($000) $3,828 (+73.4%) Shares 130,157 (+76.9%) Est. Cost $30.27 Unrealized +12.0%

MGNI MAGNITE INC 5.1%

Value ($000) $11,789 (-12.0%) Shares 992,351 (+20.2%) Est. Cost $13.65 Unrealized +1.2%

MBUU MALIBU BOATS INC 2.4%

Value ($000) $5,578 (+25.2%) Shares 215,194 (+36.3%) Est. Cost $33.61 Unrealized -5.0%

ARHS ARHAUS INC 3.5%

Value ($000) $8,105 (-12.0%) Shares 1,195,473 (+45.5%) Est. Cost $9.79 Unrealized +4.5%

WEAV WEAVE COMMUNICATIONS INC 1.5%

Value ($000) $3,490 (-19.6%) Shares 755,404 (+32.1%) Est. Cost $6.58 Unrealized -3.0%

OWLT OWLET INC 0.3%

Value ($000) $706 (-45.7%) Shares 137,447 (+70.9%) Est. Cost $11.97 Unrealized +7.4%

SCVL SHOE CARNIVAL INC 2.9%

Value ($000) $6,596 (-5.9%) Shares 423,080 (+1.9%) Est. Cost $18.39 Unrealized +6.3%

MASS 908 DEVICES INC 1.0%

Value ($000) $2,214 (+21.5%) Shares 361,738 (+4.2%) Est. Cost $6.65 Unrealized -5.6%

AZTA AZENTA INC 2.2%

Value ($000) $5,191 (-6.5%) Shares 245,657 (+47.2%) Est. Cost $32.20 Unrealized +7.5%

SLP SIMULATIONS PLUS INC 2.6%

Value ($000) $5,910 (-4.4%) Shares 500,017 (+47.4%) Est. Cost $17.18 Unrealized -4.5%

TWIN TWIN DISC INC 0.4%

Value ($000) $873 (-4.1%) Shares 57,959 (+6.1%) Est. Cost $15.55 Unrealized +12.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BBW	BUILD-A-BEAR WORKSHOP INC	152,126 (+3.5%)	$5,697 (-36.7%)	2.5%	$54.43	+8.7%	COM	120076104
PHR	PHRESSIA INC	615,740 (+28.7%)	$5,160 (-36.2%)	2.2%	$22.28	-36.0%	COM	71944F106
AMPL	AMPLITUDE	1,163,826 (+35.0%)	$7,937 (-20.5%)	3.4%	$10.87	-18.1%	COM CL A	03213A104
WERN	WERNER ENTERPRISES INC	130,157 (+76.9%)	$3,828 (+73.4%)	1.7%	$30.27	+12.0%	COM	950755108
MGNI	MAGNITE INC	992,351 (+20.2%)	$11,789 (-12.0%)	5.1%	$13.65	+1.2%	COM	55955D100
MBUU	MALIBU BOATS INC	215,194 (+36.3%)	$5,578 (+25.2%)	2.4%	$33.61	-5.0%	COM CL A	56117J100
ARHS	ARHAUS INC	1,195,473 (+45.5%)	$8,105 (-12.0%)	3.5%	$9.79	+4.5%	COM CL A	04035M102
WEAV	WEAVE COMMUNICATIONS INC	755,404 (+32.1%)	$3,490 (-19.6%)	1.5%	$6.58	-3.0%	COM	94724R108
OWLT	OWLET INC	137,447 (+70.9%)	$706 (-45.7%)	0.3%	$11.97	+7.4%	CL A NEW	69120X206
SCVL	SHOE CARNIVAL INC	423,080 (+1.9%)	$6,596 (-5.9%)	2.9%	$18.39	+6.3%	COM	824889109
MASS	908 DEVICES INC	361,738 (+4.2%)	$2,214 (+21.5%)	1.0%	$6.65	-5.6%	COM	65443P102
AZTA	AZENTA INC	245,657 (+47.2%)	$5,191 (-6.5%)	2.2%	$32.20	+7.5%	COM	114340102
SLP	SIMULATIONS PLUS INC	500,017 (+47.4%)	$5,910 (-4.4%)	2.6%	$17.18	-4.5%	COM	829214105
TWIN	TWIN DISC INC	57,959 (+6.1%)	$873 (-4.1%)	0.4%	$15.55	+12.2%	COM	901476101

Exited Positions (5)

EMBC EMBECTA CORP 1.2%

Value ($000) $2,747 Shares 231,244 Est. Cost $13.59 Unrealized -17.6%

JBI JANUS INTERNATIONAL GROUP INC 0.9%

Value ($000) $2,108 Shares 322,271 Est. Cost $8.66 Unrealized -19.1%

ICHR ICHOR HOLDINGS 0.6%

Value ($000) $1,397 Shares 75,807 Est. Cost $30.49 Unrealized +14.4%

SNCY SUN CTRY AIRLS HLDGS INC 0.5%

Value ($000) $1,149 Shares 79,844 Est. Cost $12.78 Unrealized +44.5%

BLFS BIOLIFE SOLUTIONS INC 0.3%

Value ($000) $688 Shares 28,454 Est. Cost $19.84 Unrealized +18.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EMBC	EMBECTA CORP	231,244	$2,747	1.2%	$13.59	-17.6%	—	29082K105
JBI	JANUS INTERNATIONAL GROUP INC	322,271	$2,108	0.9%	$8.66	-19.1%	—	47103N106
ICHR	ICHOR HOLDINGS	75,807	$1,397	0.6%	$30.49	+14.4%	—	G4740B105
SNCY	SUN CTRY AIRLS HLDGS INC	79,844	$1,149	0.5%	$12.78	+44.5%	—	866683105
BLFS	BIOLIFE SOLUTIONS INC	28,454	$688	0.3%	$19.84	+18.8%	—	09062W204

Decreased Positions (29)

MDXG MIMEDX INDS INC TENN 1.9%

Value ($000) $4,317 (-51.9%) Shares 1,093,028 (-17.6%) Est. Cost $7.60 Unrealized -28.2%

WTTR SELECT WATER SOLUTIONS INC 6.1%

Value ($000) $13,983 (+41.4%) Shares 913,923 (-2.8%) Est. Cost $6.11 Unrealized —

INMD INMODE LTD 1.3%

Value ($000) $3,093 (-47.9%) Shares 226,065 (-44.1%) Est. Cost $16.12 Unrealized -8.7%

PACK RANPAK HOLDINGS CORP 1.5%

Value ($000) $3,525 (-41.6%) Shares 987,489 (-11.5%) Est. Cost $5.08 Unrealized +9.6%

AIV APARTMENT INVT & MGMT CO 1.7%

Value ($000) $3,940 (-33.4%) Shares 968,124 (-2.8%) Est. Cost $8.14 Unrealized —

PLAB PHOTRONICS INC 0.7%

Value ($000) $1,518 (-56.1%) Shares 37,567 (-65.2%) Est. Cost $16.94 Unrealized +111.9%

KRMD KORU MEDICAL SYSTEMS INC 1.4%

Value ($000) $3,285 (-27.7%) Shares 760,451 (-2.8%) Est. Cost $2.73 Unrealized +92.4%

BXC BLUELINX HLDGS INC 1.6%

Value ($000) $3,807 (-24.7%) Shares 70,270 (-14.6%) Est. Cost $94.07 Unrealized -23.0%

CYRX CRYOPORT INC 2.2%

Value ($000) $5,043 (-16.1%) Shares 609,073 (-2.8%) Est. Cost $8.54 Unrealized +11.9%

DCO DUCOMMUN INC DEL 6.8%

Value ($000) $15,642 (-5.8%) Shares 128,210 (-26.5%) Est. Cost $49.86 Unrealized +131.7%

INDI INDIE SEMICONDUCTOR INC 2.9%

Value ($000) $6,615 (-11.3%) Shares 2,054,442 (-2.8%) Est. Cost $5.01 Unrealized -21.1%

NVRI ENVIRI CORP 5.3%

Value ($000) $12,279 (+6.5%) Shares 625,852 (-2.8%) Est. Cost $8.94 Unrealized +109.5%

MLAB MESA LABS INC 2.6%

Value ($000) $6,015 (-9.9%) Shares 68,032 (-20.0%) Est. Cost $87.97 Unrealized -0.6%

TILE INTERFACE INC 1.8%

Value ($000) $4,211 (-13.2%) Shares 168,968 (-2.8%) Est. Cost $14.16 Unrealized +124.0%

SEI SOLARIS OILFIELD INFRASTRUCT 3.5%

Value ($000) $8,124 (+7.6%) Shares 143,771 (-12.5%) Est. Cost $12.59 Unrealized +321.2%

AEBI AEBI SCHMIDT HLDG AG 0.6%

Value ($000) $1,334 (-25.4%) Shares 137,409 (-2.8%) Est. Cost $11.58 Unrealized +26.3%

THR THERMON GROUP HLDGS INC 5.3%

Value ($000) $12,170 (-3.6%) Shares 241,463 (-28.9%) Est. Cost $28.04 Unrealized +62.4%

BVS BIOVENTUS INC 0.8%

Value ($000) $1,896 (-19.1%) Shares 207,720 (-34.1%) Est. Cost $7.19 Unrealized +12.6%

KRUS KURA SUSHI USA INC 2.7%

Value ($000) $6,328 (-4.2%) Shares 90,676 (-28.2%) Est. Cost $54.54 Unrealized +28.0%

HURC HURCO CO 1.3%

Value ($000) $3,112 (-7.5%) Shares 211,539 (-2.8%) Est. Cost $26.47 Unrealized -35.6%

HBIO HARVARD BIOSCIENCE INC 0.3%

Value ($000) $577 (-29.1%) Shares 118,522 (-90.3%) Est. Cost $3.28 Unrealized -82.3%

DAVE DAVE INC 0.3%

Value ($000) $620 (-23.6%) Shares 3,562 (-2.9%) Est. Cost $93.71 Unrealized +100.6%

COHU COHU INC 3.7%

Value ($000) $8,450 (+2.1%) Shares 275,958 (-22.4%) Est. Cost $23.22 Unrealized +26.1%

WNC WABASH NATL CORP 2.0%

Value ($000) $4,724 (-3.1%) Shares 548,037 (-2.8%) Est. Cost $15.99 Unrealized -33.7%

INFU INFUSYSTEM HLDGS INC 1.9%

Value ($000) $4,333 (-3.0%) Shares 469,408 (-5.7%) Est. Cost $10.91 Unrealized -24.4%

RCMT RCM TECHNOLOGIES INC 0.5%

Value ($000) $1,227 (-9.0%) Shares 64,126 (-2.8%) Est. Cost $23.94 Unrealized -18.2%

VSCO VICTORIAS SECRET AND CO 0.2%

Value ($000) $432 (-16.8%) Shares 9,311 (-2.8%) Est. Cost $21.72 Unrealized +176.9%

NTIC NORTHERN TECHNOLOGIES INTL C 0.7%

Value ($000) $1,700 (+2.2%) Shares 206,259 (-2.9%) Est. Cost $13.62 Unrealized -33.9%

SRTS SENSUS HEALTHCARE INC 0.3%

Value ($000) $607 (-2.8%) Shares 152,418 (-2.8%) Est. Cost $4.94 Unrealized -6.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MDXG	MIMEDX INDS INC TENN	1,093,028 (-17.6%)	$4,317 (-51.9%)	1.9%	$7.60	-28.2%	COM	602496101
WTTR	SELECT WATER SOLUTIONS INC	913,923 (-2.8%)	$13,983 (+41.4%)	6.1%	$6.11	—	CL A COM	81617J301
INMD	INMODE LTD	226,065 (-44.1%)	$3,093 (-47.9%)	1.3%	$16.12	-8.7%	SHS	M5425M103
PACK	RANPAK HOLDINGS CORP	987,489 (-11.5%)	$3,525 (-41.6%)	1.5%	$5.08	+9.6%	COM CL A	75321W103
AIV	APARTMENT INVT & MGMT CO	968,124 (-2.8%)	$3,940 (-33.4%)	1.7%	$8.14	—	CL A	03748R747
PLAB	PHOTRONICS INC	37,567 (-65.2%)	$1,518 (-56.1%)	0.7%	$16.94	+111.9%	COM	719405102
KRMD	KORU MEDICAL SYSTEMS INC	760,451 (-2.8%)	$3,285 (-27.7%)	1.4%	$2.73	+92.4%	COM	759910102
BXC	BLUELINX HLDGS INC	70,270 (-14.6%)	$3,807 (-24.7%)	1.6%	$94.07	-23.0%	COM NEW	09624H208
CYRX	CRYOPORT INC	609,073 (-2.8%)	$5,043 (-16.1%)	2.2%	$8.54	+11.9%	COM PAR $0.001	229050307
DCO	DUCOMMUN INC DEL	128,210 (-26.5%)	$15,642 (-5.8%)	6.8%	$49.86	+131.7%	COM	264147109
INDI	INDIE SEMICONDUCTOR INC	2,054,442 (-2.8%)	$6,615 (-11.3%)	2.9%	$5.01	-21.1%	CLASS A COM	45569U101
NVRI	ENVIRI CORP	625,852 (-2.8%)	$12,279 (+6.5%)	5.3%	$8.94	+109.5%	COM	415864107
MLAB	MESA LABS INC	68,032 (-20.0%)	$6,015 (-9.9%)	2.6%	$87.97	-0.6%	COM	59064R109
TILE	INTERFACE INC	168,968 (-2.8%)	$4,211 (-13.2%)	1.8%	$14.16	+124.0%	COM	458665304
SEI	SOLARIS OILFIELD INFRASTRUCT	143,771 (-12.5%)	$8,124 (+7.6%)	3.5%	$12.59	+321.2%	COM CL A	83418M103
AEBI	AEBI SCHMIDT HLDG AG	137,409 (-2.8%)	$1,334 (-25.4%)	0.6%	$11.58	+26.3%	COM	H00501108
THR	THERMON GROUP HLDGS INC	241,463 (-28.9%)	$12,170 (-3.6%)	5.3%	$28.04	+62.4%	COM	88362T103
BVS	BIOVENTUS INC	207,720 (-34.1%)	$1,896 (-19.1%)	0.8%	$7.19	+12.6%	COM CL A	09075A108
KRUS	KURA SUSHI USA INC	90,676 (-28.2%)	$6,328 (-4.2%)	2.7%	$54.54	+28.0%	CL A COM	501270102
HURC	HURCO CO	211,539 (-2.8%)	$3,112 (-7.5%)	1.3%	$26.47	-35.6%	COM	447324104
HBIO	HARVARD BIOSCIENCE INC	118,522 (-90.3%)	$577 (-29.1%)	0.3%	$3.28	-82.3%	COM	416906105
DAVE	DAVE INC	3,562 (-2.9%)	$620 (-23.6%)	0.3%	$93.71	+100.6%	CLASS A COM NEW	23834J201
COHU	COHU INC	275,958 (-22.4%)	$8,450 (+2.1%)	3.7%	$23.22	+26.1%	COM	192576106
WNC	WABASH NATL CORP	548,037 (-2.8%)	$4,724 (-3.1%)	2.0%	$15.99	-33.7%	COM	929566107
INFU	INFUSYSTEM HLDGS INC	469,408 (-5.7%)	$4,333 (-3.0%)	1.9%	$10.91	-24.4%	COM	45685K102
RCMT	RCM TECHNOLOGIES INC	64,126 (-2.8%)	$1,227 (-9.0%)	0.5%	$23.94	-18.2%	COM NEW	749360400
VSCO	VICTORIAS SECRET AND CO	9,311 (-2.8%)	$432 (-16.8%)	0.2%	$21.72	+176.9%	COMMON STOCK	926400102
NTIC	NORTHERN TECHNOLOGIES INTL C	206,259 (-2.9%)	$1,700 (+2.2%)	0.7%	$13.62	-33.9%	COM	665809109
SRTS	SENSUS HEALTHCARE INC	152,418 (-2.8%)	$607 (-2.8%)	0.3%	$4.94	-6.0%	COM	81728J109