Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BSET	BASSETT FURNITURE INDS INC	123,868	$2.195M	1.5%	$17.72	—	COM	070203104
PCYO	PURE CYCLE CORP	186,734	$2M	1.3%	$10.71	—	COM NEW	746228303
ENGN	ENGENE THERAPEUTICS INC	1,102,149	$1.907M	1.3%	$1.73	—	COM	29286X101
MYPS	PLAYSTUDIOS INC	3,002,579	$1.498M	1.0%	$0.50	—	CLASS A COM	72815G108
OM	OUTSET MED INC	331,951	$1.434M	1.0%	$4.32	—	COM NEW	690145206
FULC	FULCRUM THERAPEUTICS INC	285,798	$1.046M	0.7%	$3.66	—	COM	359616109
VIRC	VIRCO MFG CO	62,507	$384K	0.3%	$6.14	—	COM	927651109

Increased Positions (41)

ALOT ASTRONOVA INC 2.6%

Value $3.788M (+213.0%) Shares 133,065 (+1.6%) Est. Cost $13.80 Unrealized —

CLDT CHATHAM LODGING TR 4.1%

Value $6.048M (+71.3%) Shares 457,149 (+1.6%) Est. Cost $7.38 Unrealized —

HURC HURCO CO 4.1%

Value $6.062M (+68.0%) Shares 264,792 (+8.1%) Est. Cost $20.50 Unrealized —

MEI METHODE ELECTRS INC 1.8%

Value $2.737M (+253.7%) Shares 144,272 (+2.6%) Est. Cost $8.30 Unrealized —

BCYC BICYCLE THERAPEUTICS PLC 1.5%

Value $2.281M (+314.6%) Shares 537,978 (+344.2%) Est. Cost $4.31 Unrealized —

MXCT MAXCYTE INC 1.8%

Value $2.615M (+182.4%) Shares 2,125,752 (+59.6%) Est. Cost $1.11 Unrealized —

CLW CLEARWATER PAPER CORP 3.1%

Value $4.546M (+48.4%) Shares 289,906 (+35.1%) Est. Cost $21.02 Unrealized —

FTEK FUEL TECH INC 1.2%

Value $1.814M (+211.5%) Shares 820,592 (+71.4%) Est. Cost $1.58 Unrealized —

LAKE LAKELAND INDS INC 1.5%

Value $2.22M (+115.3%) Shares 207,657 (+62.1%) Est. Cost $11.42 Unrealized —

LMNR LIMONEIRA CO 3.0%

Value $4.476M (+34.0%) Shares 340,880 (+37.3%) Est. Cost $14.42 Unrealized —

FLGT FULGENT GENETICS INC 3.1%

Value $4.601M (+31.9%) Shares 224,207 (+1.6%) Est. Cost $20.45 Unrealized —

TUSK MAMMOTH ENERGY SVCS INC 1.8%

Value $2.625M (+73.5%) Shares 807,804 (+34.7%) Est. Cost $2.50 Unrealized —

HOFT HOOKER FURNISHINGS CORPORATI 2.3%

Value $3.481M (+40.9%) Shares 195,224 (+1.6%) Est. Cost $13.19 Unrealized —

SEG SEAPORT ENTMT GROUP INC 2.0%

Value $2.922M (+48.2%) Shares 109,851 (+18.8%) Est. Cost $21.36 Unrealized —

KELYA KELLY SVCS INC 1.6%

Value $2.363M (+56.8%) Shares 192,461 (+13.2%) Est. Cost $10.20 Unrealized —

ASLE AERSALE CORPORATION 2.6%

Value $3.839M (+25.1%) Shares 607,358 (+22.2%) Est. Cost $6.00 Unrealized —

UFI UNIFI INC 1.9%

Value $2.764M (+35.3%) Shares 581,977 (+1.6%) Est. Cost $5.56 Unrealized —

STHO STAR HLDGS 2.5%

Value $3.766M (+23.6%) Shares 412,468 (+1.6%) Est. Cost $9.28 Unrealized —

DCGO DOCGO INC 0.9%

Value $1.29M (+85.0%) Shares 2,500,118 (+121.4%) Est. Cost $0.65 Unrealized —

SGA SAGA COMMUNICATIONS INC 1.3%

Value $1.903M (-21.6%) Shares 209,865 (+1.6%) Est. Cost $12.52 Unrealized —

SENEA SENECA FOODS CORP NEW 2.4%

Value $3.592M (+17.0%) Shares 20,648 (+1.8%) Est. Cost $70.99 Unrealized —

GAIA GAIA INC NEW 0.9%

Value $1.346M (-22.6%) Shares 640,797 (+1.6%) Est. Cost $5.41 Unrealized —

CATO CATO CORP NEW 1.7%

Value $2.524M (+17.1%) Shares 778,940 (+1.6%) Est. Cost $4.43 Unrealized —

UEIC UNIVERSAL ELECTRS INC 1.5%

Value $2.208M (+17.5%) Shares 462,801 (+1.6%) Est. Cost $5.92 Unrealized —

NTIC NORTHERN TECHNOLOGIES INTL C 1.0%

Value $1.508M (+27.9%) Shares 176,114 (+23.5%) Est. Cost $7.83 Unrealized —

RGP RESOURCES CONNECTION INC 1.5%

Value $2.282M (+16.2%) Shares 536,955 (+1.6%) Est. Cost $4.63 Unrealized —

HYNE HOYNE BANCORP INC 1.1%

Value $1.644M (+17.8%) Shares 98,232 (+1.6%) Est. Cost $14.05 Unrealized —

WHG WESTWOOD HLDGS GROUP INC 1.0%

Value $1.535M (+18.5%) Shares 80,120 (+1.6%) Est. Cost $15.44 Unrealized —

LSBK LAKE SHORE BANCORP INC 0.8%

Value $1.247M (+19.4%) Shares 70,039 (+1.6%) Est. Cost $12.65 Unrealized —

MED MEDIFAST INC 1.6%

Value $2.362M (+6.7%) Shares 222,576 (+1.6%) Est. Cost $12.58 Unrealized —

FBLA FB BANCORP INC 0.9%

Value $1.349M (+11.5%) Shares 89,599 (+1.6%) Est. Cost $12.13 Unrealized —

LAB STANDARD BIOTOOLS INC 1.3%

Value $1.984M (+6.6%) Shares 2,411,474 (+18.9%) Est. Cost $1.27 Unrealized —

AXR AMREP CORP 0.8%

Value $1.179M (-7.9%) Shares 46,763 (+1.5%) Est. Cost $32.05 Unrealized —

INGN INOGEN INC 1.1%

Value $1.695M (+6.3%) Shares 262,775 (+1.6%) Est. Cost $6.12 Unrealized —

INVE IDENTIV INC 1.0%

Value $1.48M (+7.0%) Shares 587,212 (+55.9%) Est. Cost $3.16 Unrealized —

PLRX PLIANT THERAPEUTICS INC 1.0%

Value $1.492M (-6.1%) Shares 1,309,013 (+1.6%) Est. Cost $3.22 Unrealized —

SGOV ISHARES TR 1.4%

Value $2.104M (+4.5%) Shares 20,900 (+4.5%) Est. Cost $100.60 Unrealized —

MGX METAGENOMI THERAPEUTICS INC 0.4%

Value $625K (-8.5%) Shares 525,024 (+1.6%) Est. Cost $2.12 Unrealized —

ARQ ARQ INC 1.4%

Value $2.009M (+1.9%) Shares 787,880 (+1.6%) Est. Cost $3.96 Unrealized —

JOUT JOHNSON OUTDOORS INC 2.1%

Value $3.073M (+0.6%) Shares 66,748 (+1.6%) Est. Cost $32.01 Unrealized —

SEER SEER INC 0.5%

Value $739K (+0.5%) Shares 445,450 (+1.6%) Est. Cost $2.18 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ALOT	ASTRONOVA INC	133,065 (+1.6%)	$3.788M (+213.0%)	2.6%	$13.80	—	COM	04638F108
CLDT	CHATHAM LODGING TR	457,149 (+1.6%)	$6.048M (+71.3%)	4.1%	$7.38	—	COM	16208T102
HURC	HURCO CO	264,792 (+8.1%)	$6.062M (+68.0%)	4.1%	$20.50	—	COM	447324104
MEI	METHODE ELECTRS INC	144,272 (+2.6%)	$2.737M (+253.7%)	1.8%	$8.30	—	COM	591520200
BCYC	BICYCLE THERAPEUTICS PLC	537,978 (+344.2%)	$2.281M (+314.6%)	1.5%	$4.31	—	SPONSORED ADS	088786108
MXCT	MAXCYTE INC	2,125,752 (+59.6%)	$2.615M (+182.4%)	1.8%	$1.11	—	COM	57777K106
CLW	CLEARWATER PAPER CORP	289,906 (+35.1%)	$4.546M (+48.4%)	3.1%	$21.02	—	COM	18538R103
FTEK	FUEL TECH INC	820,592 (+71.4%)	$1.814M (+211.5%)	1.2%	$1.58	—	COM	359523107
LAKE	LAKELAND INDS INC	207,657 (+62.1%)	$2.22M (+115.3%)	1.5%	$11.42	—	COM	511795106
LMNR	LIMONEIRA CO	340,880 (+37.3%)	$4.476M (+34.0%)	3.0%	$14.42	—	COM	532746104
FLGT	FULGENT GENETICS INC	224,207 (+1.6%)	$4.601M (+31.9%)	3.1%	$20.45	—	COM	359664109
TUSK	MAMMOTH ENERGY SVCS INC	807,804 (+34.7%)	$2.625M (+73.5%)	1.8%	$2.50	—	COM	56155L108
HOFT	HOOKER FURNISHINGS CORPORATI	195,224 (+1.6%)	$3.481M (+40.9%)	2.3%	$13.19	—	COM	439038100
SEG	SEAPORT ENTMT GROUP INC	109,851 (+18.8%)	$2.922M (+48.2%)	2.0%	$21.36	—	COMMON STOCK	812215200
KELYA	KELLY SVCS INC	192,461 (+13.2%)	$2.363M (+56.8%)	1.6%	$10.20	—	CL A	488152208
ASLE	AERSALE CORPORATION	607,358 (+22.2%)	$3.839M (+25.1%)	2.6%	$6.00	—	COM	00810F106
UFI	UNIFI INC	581,977 (+1.6%)	$2.764M (+35.3%)	1.9%	$5.56	—	COM NEW	904677200
STHO	STAR HLDGS	412,468 (+1.6%)	$3.766M (+23.6%)	2.5%	$9.28	—	SHS BEN INT	85512G106
DCGO	DOCGO INC	2,500,118 (+121.4%)	$1.29M (+85.0%)	0.9%	$0.65	—	COM	256086109
SGA	SAGA COMMUNICATIONS INC	209,865 (+1.6%)	$1.903M (-21.6%)	1.3%	$12.52	—	CL A NEW	786598300
SENEA	SENECA FOODS CORP NEW	20,648 (+1.8%)	$3.592M (+17.0%)	2.4%	$70.99	—	CL A	817070501
GAIA	GAIA INC NEW	640,797 (+1.6%)	$1.346M (-22.6%)	0.9%	$5.41	—	CL A	36269P104
CATO	CATO CORP NEW	778,940 (+1.6%)	$2.524M (+17.1%)	1.7%	$4.43	—	CL A	149205106
UEIC	UNIVERSAL ELECTRS INC	462,801 (+1.6%)	$2.208M (+17.5%)	1.5%	$5.92	—	COM	913483103
NTIC	NORTHERN TECHNOLOGIES INTL C	176,114 (+23.5%)	$1.508M (+27.9%)	1.0%	$7.83	—	COM	665809109
RGP	RESOURCES CONNECTION INC	536,955 (+1.6%)	$2.282M (+16.2%)	1.5%	$4.63	—	COM	76122Q105
HYNE	HOYNE BANCORP INC	98,232 (+1.6%)	$1.644M (+17.8%)	1.1%	$14.05	—	COM	44326H107
WHG	WESTWOOD HLDGS GROUP INC	80,120 (+1.6%)	$1.535M (+18.5%)	1.0%	$15.44	—	COM	961765104
LSBK	LAKE SHORE BANCORP INC	70,039 (+1.6%)	$1.247M (+19.4%)	0.8%	$12.65	—	COM	510704109
MED	MEDIFAST INC	222,576 (+1.6%)	$2.362M (+6.7%)	1.6%	$12.58	—	COM	58470H101
FBLA	FB BANCORP INC	89,599 (+1.6%)	$1.349M (+11.5%)	0.9%	$12.13	—	COM	31425A109
LAB	STANDARD BIOTOOLS INC	2,411,474 (+18.9%)	$1.984M (+6.6%)	1.3%	$1.27	—	COM	34385P108
AXR	AMREP CORP	46,763 (+1.5%)	$1.179M (-7.9%)	0.8%	$32.05	—	COM	032159105
INGN	INOGEN INC	262,775 (+1.6%)	$1.695M (+6.3%)	1.1%	$6.12	—	COM	45780L104
INVE	IDENTIV INC	587,212 (+55.9%)	$1.48M (+7.0%)	1.0%	$3.16	—	COM NEW	45170X205
PLRX	PLIANT THERAPEUTICS INC	1,309,013 (+1.6%)	$1.492M (-6.1%)	1.0%	$3.22	—	COM	729139105
SGOV	ISHARES TR	20,900 (+4.5%)	$2.104M (+4.5%)	1.4%	$100.60	—	0-3 MTH TREASURY	46436E718
MGX	METAGENOMI THERAPEUTICS INC	525,024 (+1.6%)	$625K (-8.5%)	0.4%	$2.12	—	COM	59102M104
ARQ	ARQ INC	787,880 (+1.6%)	$2.009M (+1.9%)	1.4%	$3.96	—	COM	00770C101
JOUT	JOHNSON OUTDOORS INC	66,748 (+1.6%)	$3.073M (+0.6%)	2.1%	$32.01	—	CL A	479167108
SEER	SEER INC	445,450 (+1.6%)	$739K (+0.5%)	0.5%	$2.18	—	COM CL A	81578P106

Exited Positions (8)

FDMT 4D MOLECULAR THERAPEUTICS IN 1.5%

Value $2.21M Shares 241,480 Est. Cost $5.68 Unrealized —

FONR FONAR CORP 1.4%

Value $2.11M Shares 113,662 Est. Cost $15.76 Unrealized —

TWIN TWIN DISC INC 1.1%

Value $1.623M Shares 108,107 Est. Cost $7.33 Unrealized —

AVIR ATEA PHARMACEUTICALS INC 1.0%

Value $1.443M Shares 272,820 Est. Cost $3.27 Unrealized —

KZR KEZAR LIFE SCIENCES INC 0.6%

Value $925K Shares 126,692 Est. Cost $7.16 Unrealized —

CLYM CLIMB BIO INC 0.5%

Value $740K Shares 108,878 Est. Cost $1.62 Unrealized —

KYTX KYVERNA THERAPEUTICS INC 0.2%

Value $336K Shares 40,404 Est. Cost $2.95 Unrealized —

ANTX AN2 THERAPEUTICS INC 0.1%

Value $207K Shares 59,854 Est. Cost $1.21 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
FDMT	4D MOLECULAR THERAPEUTICS IN	241,480	$2.21M	1.5%	$5.68	—	—	35104E100
FONR	FONAR CORP	113,662	$2.11M	1.4%	$15.76	—	—	344437405
TWIN	TWIN DISC INC	108,107	$1.623M	1.1%	$7.33	—	—	901476101
AVIR	ATEA PHARMACEUTICALS INC	272,820	$1.443M	1.0%	$3.27	—	—	04683R106
KZR	KEZAR LIFE SCIENCES INC	126,692	$925K	0.6%	$7.16	—	—	49372L209
CLYM	CLIMB BIO INC	108,878	$740K	0.5%	$1.62	—	—	28658R106
KYTX	KYVERNA THERAPEUTICS INC	40,404	$336K	0.2%	$2.95	—	—	501976104
ANTX	AN2 THERAPEUTICS INC	59,854	$207K	0.1%	$1.21	—	—	037326105

Decreased Positions (12)

TBI TRUEBLUE INC 2.8%

Value $4.189M (+71.2%) Shares 601,005 (-6.1%) Est. Cost $5.54 Unrealized —

OSUR ORASURE TECHNOLOGIES INC 3.0%

Value $4.433M (+45.9%) Shares 993,875 (-2.4%) Est. Cost $3.39 Unrealized —

KVHI KVH INDS INC 1.7%

Value $2.477M (-33.0%) Shares 249,907 (-39.7%) Est. Cost $5.19 Unrealized —

CVGI COMMERCIAL VEH GROUP INC 1.4%

Value $2.036M (-34.9%) Shares 440,663 (-52.5%) Est. Cost $1.66 Unrealized —

NNDM NANO DIMENSION LTD 1.4%

Value $2.105M (-29.0%) Shares 1,451,728 (-17.5%) Est. Cost $1.59 Unrealized —

CLAR CLARUS CORP NEW 0.4%

Value $663K (-53.7%) Shares 210,384 (-60.4%) Est. Cost $4.18 Unrealized —

ALCO ALICO INC 3.3%

Value $4.858M (-11.7%) Shares 117,439 (-12.2%) Est. Cost $25.98 Unrealized —

ACTG ACACIA RESH CORP 3.1%

Value $4.636M (-11.9%) Shares 994,770 (-8.8%) Est. Cost $3.92 Unrealized —

ALTO ALTO INGREDIENTS INC 1.0%

Value $1.501M (-17.5%) Shares 263,383 (-35.2%) Est. Cost $1.43 Unrealized —

ZNTL ZENTALIS PHARMACEUTICALS INC 0.7%

Value $984K (+17.9%) Shares 202,864 (-44.7%) Est. Cost $2.15 Unrealized —

NKTX NKARTA INC 1.1%

Value $1.556M (+10.6%) Shares 549,923 (-18.7%) Est. Cost $2.03 Unrealized —

VRA VERA BRADLEY INC 1.8%

Value $2.664M (+1.9%) Shares 684,766 (-17.9%) Est. Cost $3.93 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TBI	TRUEBLUE INC	601,005 (-6.1%)	$4.189M (+71.2%)	2.8%	$5.54	—	COM	89785X101
OSUR	ORASURE TECHNOLOGIES INC	993,875 (-2.4%)	$4.433M (+45.9%)	3.0%	$3.39	—	COM	68554V108
KVHI	KVH INDS INC	249,907 (-39.7%)	$2.477M (-33.0%)	1.7%	$5.19	—	COM	482738101
CVGI	COMMERCIAL VEH GROUP INC	440,663 (-52.5%)	$2.036M (-34.9%)	1.4%	$1.66	—	COM	202608105
NNDM	NANO DIMENSION LTD	1,451,728 (-17.5%)	$2.105M (-29.0%)	1.4%	$1.59	—	SPONSORD ADS NEW	63008G203
CLAR	CLARUS CORP NEW	210,384 (-60.4%)	$663K (-53.7%)	0.4%	$4.18	—	COM	18270P109
ALCO	ALICO INC	117,439 (-12.2%)	$4.858M (-11.7%)	3.3%	$25.98	—	COM	016230104
ACTG	ACACIA RESH CORP	994,770 (-8.8%)	$4.636M (-11.9%)	3.1%	$3.92	—	ACACIA TCH COM	003881307
ALTO	ALTO INGREDIENTS INC	263,383 (-35.2%)	$1.501M (-17.5%)	1.0%	$1.43	—	COM	021513106
ZNTL	ZENTALIS PHARMACEUTICALS INC	202,864 (-44.7%)	$984K (+17.9%)	0.7%	$2.15	—	COM	98943L107
NKTX	NKARTA INC	549,923 (-18.7%)	$1.556M (+10.6%)	1.1%	$2.03	—	COM	65487U108
VRA	VERA BRADLEY INC	684,766 (-17.9%)	$2.664M (+1.9%)	1.8%	$3.93	—	COM	92335C106

Unchanged Positions (1)

IPI INTREPID POTASH INC 1.0%

Value $1.514M Shares 46,173 Est. Cost $25.18 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IPI	INTREPID POTASH INC	46,173	$1.514M	1.0%	$25.18	—	COM	46121Y201