Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SHY	ISHARES TR	701,232	$56.94M	31.8%	$81.20	$81.75	-0.7%	1 3 YR TREAS BD	464287457
NOK	NOKIA CORP	1,674,215	$16.98M	9.5%	$10.14	$10.39	-2.4%	SPONSORED ADR	654902204
IEF	ISHARES TR	123,985	$11.07M	6.2%	$89.31	$92.52	-3.5%	7-10 YR TRSY BD	464287440
ATKR	ATKORE INC	106,084	$10.05M	5.6%	$94.75	$86.62	+9.4%	COM	047649108
BTI	BRITISH AMERN TOB PLC	165,036	$8.978M	5.0%	$54.40	$58.02	-6.2%	SPONSORED ADR	110448107
BLFS	BIOLIFE SOLUTIONS INC	138,110	$5.366M	3.0%	$38.85	$33.80	+14.9%	COM NEW	09062W204
RUSHA	RUSH ENTERPRISES INC	115,437	$5.288M	3.0%	$45.81	$67.40	-32.0%	CL A	781846209
SMTI	SANARA MEDTECH INC	148,956	$5.234M	2.9%	$35.14	$31.68	+10.9%	COM	79957L100
WBD	WARNER BROS DISCOVERY INC	154,446	$4.78M	2.7%	$30.95	$27.71	+11.7%	COM SER A	934423104
UAA	UNDER ARMOUR INC	1,049,607	$4.681M	2.6%	$4.46	$5.79	-23.0%	CL A	904311107
ITGR	INTEGER HLDGS CORP	23,775	$3.004M	1.7%	$126.35	$115.88	+9.0%	COM	45826H109
FOX	FOX CORP	50,108	$2.821M	1.6%	$56.30	$55.62	+1.2%	CL B COM	35137L204
ACVA	ACV AUCTIONS INC	269,404	$2.81M	1.6%	$10.43	$8.09	+28.9%	COM CL A	00091G104
HEI/A	HEICO CORP NEW	11,571	$2.642M	1.5%	$228.33	$249.29	-8.4%	CL A	422806208
Z	ZILLOW GROUP INC	91,984	$2.496M	1.4%	$27.13	$32.95	-17.7%	CL C CAP STK	98954M200
BELFA	BEL FUSE INC	10,022	$1.982M	1.1%	$197.73	$218.08	-9.3%	CL A	077347201
BZH	BEAZER HOMES USA INC	59,000	$1.968M	1.1%	$33.35	$32.70	+2.0%	COM NEW	07556Q881
CBZ	CBIZ INC	34,897	$1.909M	1.1%	$54.69	$50.29	+8.7%	COM	124805102
BWIN	THE BALDWIN INSURANCE GRP IN	56,085	$1.783M	1.0%	$31.79	$29.46	+7.9%	COM CL A	05589G102
ARX	ACCELERANT HOLDINGS	89,851	$1.773M	1.0%	$19.73	$16.58	+19.0%	CL A	G00894108
BWMN	BOWMAN CONSULTING GROUP LTD	35,102	$1.497M	0.8%	$42.64	$35.98	+18.5%	COM	103002101
WEAV	WEAVE COMMUNICATIONS INC	201,302	$1.486M	0.8%	$7.38	$6.88	+7.3%	COM	94724R108
TLT	ISHARES TR	18,060	$1.405M	0.8%	$77.78	$82.47	-5.7%	20 YR TR BD ETF	464287432
LBTYK	LIBERTY GLOBAL LTD	156,408	$1.39M	0.8%	$8.89	$10.15	-12.4%	COM CL C	G61188127
NWSA	NEWS CORP NEW	37,326	$1.069M	0.6%	$28.65	$28.86	-0.7%	CL A	65249B109
DV	DOUBLEVERIFY HLDGS INC	72,480	$978K	0.5%	$13.49	$12.57	+7.3%	COM	25862V105
EFSI	EAGLE FINL SVCS INC	20,619	$934K	0.5%	$45.30	$42.74	+6.0%	COM	26951R104
GOOG	ALPHABET INC	2,510	$855K	0.5%	$340.74	$344.72	-1.2%	CAP STK CL C	02079K107
SAFT	SAFETY INS GROUP INC	6,971	$722K	0.4%	$103.58	$96.37	+7.5%	COM	78648T100
LLYVK	LIBERTY LIVE HOLDINGS INC	7,155	$696K	0.4%	$97.25	$102.32	-5.0%	COM SHS SER C	530909308
TS	TENARIS S A	6,520	$360K	0.2%	$55.18	$55.45	-0.5%	SPONSORED ADS	88031M109
CBNK	CAPITAL BANCORP INC MD	8,907	$350K	0.2%	$39.31	$36.45	+7.9%	COM	139737100
ARGX	ARGENX SE	340	$326K	0.2%	$958.91	$940.37	+2.0%	SPONSORED ADR	04016X101
PEN	PENUMBRA INC	950	$302K	0.2%	$318.34	$320.78	-0.8%	COM	70975L107
BF/B	BROWN FORMAN CORP	11,103	$291K	0.2%	$26.20	$26.95	-2.8%	CL B	115637209
FNWD	FINWARD BANCORP	6,889	$287K	0.2%	$41.65	$42.05	-0.9%	COM	31812F109
QRVO	QORVO INC	2,309	$264K	0.1%	$114.48	$98.16	+16.6%	COM	74736K101
OGN	ORGANON & CO	17,951	$246K	0.1%	$13.70	$13.63	+0.5%	COMMON STOCK	68622V106
IEI	ISHARES TR	2,000	$227K	0.1%	$113.44	$115.92	-2.1%	3 7 YR TREAS BD	464288661
SLAB	SILICON LABORATORIES INC	1,000	$222K	0.1%	$221.58	$218.90	+1.2%	COM	826919102
PSO	PEARSON PLC	12,820	$206K	0.1%	$16.05	$16.38	-2.0%	SPONSORED ADR	705015105

Increased Positions (2)

EQH EQUITABLE HLDGS INC 1.5%

Value $2.651M (+501.7%) Shares 51,702 (+415.0%) Share Price $51.27 Est. Cost/Share $48.64 Unrealized @ Report Date +5.4%

FMS FRESENIUS MEDICAL CARE AG 0.2%

Value $387K (+32.0%) Shares 17,311 (+33.4%) Share Price $22.38 Est. Cost/Share $22.72 Unrealized @ Report Date -1.5%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
EQH	EQUITABLE HLDGS INC	51,702 (+415.0%)	$2.651M (+501.7%)	1.5%	$51.27	$48.64	+5.4%	COM	29452E101
FMS	FRESENIUS MEDICAL CARE AG	17,311 (+33.4%)	$387K (+32.0%)	0.2%	$22.38	$22.72	-1.5%	SPONSORED ADR	358029106

Exited Positions (24)

SCHO SCHWAB STRATEGIC TR 10.5%

Value $18.77M Shares 777,452 Share Price $24.14 Est. Cost/Share $24.17 Unrealized @ Report Date -1.3%

SPTS SPDR SERIES TRUST 6.1%

Value $10.97M Shares 378,140 Share Price $29.01 Est. Cost/Share $29.05 Unrealized @ Report Date -1.3%

GSK GSK PLC 5.5%

Value $9.88M Shares 188,473 Share Price $52.42 * Est. Cost/Share $53.25 Unrealized @ Report Date -9.5%

NUVL NUVALENT INC 4.8%

Value $8.615M Shares 69,760 Share Price $123.50 Est. Cost/Share $107.56 Unrealized @ Report Date +15.3%

SILA SILA REALTY TRUST INC 3.9%

Value $7.059M Shares 232,525 Share Price $30.36 Est. Cost/Share $30.36 Unrealized @ Report Date —

LBRDA LIBERTY BROADBAND CORP 3.5%

Value $6.211M Shares 186,635 Share Price $33.28 * Est. Cost/Share $40.24 Unrealized @ Report Date -10.6%

LPRO OPEN LENDING CORP 3.3%

Value $5.825M Shares 1,872,899 Share Price $3.11 Est. Cost/Share $2.04 Unrealized @ Report Date +53.7%

RIO RIO TINTO PLC 3.2%

Value $5.769M Shares 60,773 Share Price $94.93 Est. Cost/Share $91.06 Unrealized @ Report Date +3.4%

BP BP PLC 3.2%

Value $5.695M Shares 154,115 Share Price $36.95 * Est. Cost/Share $36.97 Unrealized @ Report Date +19.0%

ESPR ESPERION THERAPEUTICS INC NE 2.8%

Value $5.027M Shares 1,590,721 Share Price $3.16 Est. Cost/Share $2.80 Unrealized @ Report Date +13.7%

WSR WHITESTONE REIT 2.6%

Value $4.649M Shares 245,178 Share Price $18.96 Est. Cost/Share $18.96 Unrealized @ Report Date —

NVO NOVO-NORDISK A S 2.6%

Value $4.648M Shares 96,946 Share Price $47.94 * Est. Cost/Share $42.96 Unrealized @ Report Date -11.8%

TBRG TRUBRIDGE INC 2.6%

Value $4.635M Shares 176,833 Share Price $26.21 Est. Cost/Share $24.49 Unrealized @ Report Date +7.1%

APGE APOGEE THERAPEUTICS INC 2.6%

Value $4.578M Shares 34,493 Share Price $132.73 Est. Cost/Share $90.09 Unrealized @ Report Date +49.9%

ALOT ASTRONOVA INC 1.0%

Value $1.852M Shares 65,038 Share Price $28.47 Est. Cost/Share $16.02 Unrealized @ Report Date +80.9%

VGSH VANGUARD SCOTTSDALE FDS 1.0%

Value $1.762M Shares 30,270 Share Price $58.20 Est. Cost/Share $58.29 Unrealized @ Report Date -1.3%

WPP WPP PLC NEW 0.8%

Value $1.495M Shares 96,546 Share Price $15.49 * Est. Cost/Share $17.81 Unrealized @ Report Date +38.8%

WBS WEBSTER FINL CORP 0.8%

Value $1.444M Shares 18,900 Share Price $76.42 Est. Cost/Share $72.73 Unrealized @ Report Date +6.7%

FERG FERGUSON ENTERPRISES INC 0.3%

Value $503K Shares 2,116 Share Price $237.93 * Est. Cost/Share $239.33 Unrealized @ Report Date -7.0%

AVNS AVANOS MED INC 0.2%

Value $437K Shares 17,583 Share Price $24.88 Est. Cost/Share $23.41 Unrealized @ Report Date +6.7%

TALK TALKSPACE INC 0.2%

Value $430K Shares 82,738 Share Price $5.20 Est. Cost/Share $5.19 Unrealized @ Report Date +1.1%

SCHR SCHWAB STRATEGIC TR 0.2%

Value $326K Shares 13,229 Share Price $24.66 * Est. Cost/Share $24.72 Unrealized @ Report Date -4.1%

CCRN CROSS CTRY HEALTHCARE INC 0.2%

Value $316K Shares 23,890 Share Price $13.21 Est. Cost/Share $11.84 Unrealized @ Report Date +11.9%

EEX EMERALD HOLDING INC 0.1%

Value $136K Shares 27,012 Share Price $5.04 Est. Cost/Share $4.86 Unrealized @ Report Date +3.7%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SCHO	SCHWAB STRATEGIC TR	777,452	$18.77M	10.5%	$24.14	$24.17	-1.3%	—	808524862
SPTS	SPDR SERIES TRUST	378,140	$10.97M	6.1%	$29.01	$29.05	-1.3%	—	78468R101
GSK	GSK PLC	188,473	$9.88M	5.5%	$52.42 *	$53.25	-9.5%	—	37733W204
NUVL	NUVALENT INC	69,760	$8.615M	4.8%	$123.50	$107.56	+15.3%	—	670703107
SILA	SILA REALTY TRUST INC	232,525	$7.059M	3.9%	$30.36	$30.36	—	—	146280508
LBRDA	LIBERTY BROADBAND CORP	186,635	$6.211M	3.5%	$33.28 *	$40.24	-10.6%	—	530307107
LPRO	OPEN LENDING CORP	1,872,899	$5.825M	3.3%	$3.11	$2.04	+53.7%	—	68373J104
RIO	RIO TINTO PLC	60,773	$5.769M	3.2%	$94.93	$91.06	+3.4%	—	767204100
BP	BP PLC	154,115	$5.695M	3.2%	$36.95 *	$36.97	+19.0%	—	055622104
ESPR	ESPERION THERAPEUTICS INC NE	1,590,721	$5.027M	2.8%	$3.16	$2.80	+13.7%	—	29664W105
WSR	WHITESTONE REIT	245,178	$4.649M	2.6%	$18.96	$18.96	—	—	966084204
NVO	NOVO-NORDISK A S	96,946	$4.648M	2.6%	$47.94 *	$42.96	-11.8%	—	670100205
TBRG	TRUBRIDGE INC	176,833	$4.635M	2.6%	$26.21	$24.49	+7.1%	—	205306103
APGE	APOGEE THERAPEUTICS INC	34,493	$4.578M	2.6%	$132.73	$90.09	+49.9%	—	03770N101
ALOT	ASTRONOVA INC	65,038	$1.852M	1.0%	$28.47	$16.02	+80.9%	—	04638F108
VGSH	VANGUARD SCOTTSDALE FDS	30,270	$1.762M	1.0%	$58.20	$58.29	-1.3%	—	92206C102
WPP	WPP PLC NEW	96,546	$1.495M	0.8%	$15.49 *	$17.81	+38.8%	—	92937A102
WBS	WEBSTER FINL CORP	18,900	$1.444M	0.8%	$76.42	$72.73	+6.7%	—	947890109
FERG	FERGUSON ENTERPRISES INC	2,116	$503K	0.3%	$237.93 *	$239.33	-7.0%	—	31488V107
AVNS	AVANOS MED INC	17,583	$437K	0.2%	$24.88	$23.41	+6.7%	—	05350V106
TALK	TALKSPACE INC	82,738	$430K	0.2%	$5.20	$5.19	+1.1%	—	87427V103
SCHR	SCHWAB STRATEGIC TR	13,229	$326K	0.2%	$24.66 *	$24.72	-4.1%	—	808524854
CCRN	CROSS CTRY HEALTHCARE INC	23,890	$316K	0.2%	$13.21	$11.84	+11.9%	—	227483104
EEX	EMERALD HOLDING INC	27,012	$136K	0.1%	$5.04	$4.86	+3.7%	—	29103W104

Decreased Positions (6)

ING ING GROEP N.V. 0.7%

Value $1.199M (-83.4%) Shares 33,779 (-85.3%) Share Price $35.50 Est. Cost/Share $29.58 Unrealized @ Report Date +20.0%

NWG NATWEST GROUP PLC 0.5%

Value $924K (-84.5%) Shares 50,886 (-84.9%) Share Price $18.15 Est. Cost/Share $16.08 Unrealized @ Report Date +12.9%

PHG KONINKLIJKE PHILIPS N V 0.4%

Value $701K (-78.9%) Shares 28,699 (-76.5%) Share Price $24.43 Est. Cost/Share $26.95 Unrealized @ Report Date -9.3%

VOD VODAFONE GROUP PLC 0.5%

Value $810K (-52.7%) Shares 50,144 (-61.3%) Share Price $16.15 Est. Cost/Share $13.56 Unrealized @ Report Date +19.1%

AEG AEGON LTD 0.8%

Value $1.475M (-35.3%) Shares 170,903 (-36.7%) Share Price $8.63 Est. Cost/Share $7.55 Unrealized @ Report Date +14.4%

DEO DIAGEO PLC 1.8%

Value $3.264M (+4.3%) Shares 38,125 (-2.0%) Share Price $85.60 Est. Cost/Share $92.11 Unrealized @ Report Date -7.1%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
ING	ING GROEP N.V.	33,779 (-85.3%)	$1.199M (-83.4%)	0.7%	$35.50	$29.58	+20.0%	SPONSORED ADR	456837103
NWG	NATWEST GROUP PLC	50,886 (-84.9%)	$924K (-84.5%)	0.5%	$18.15	$16.08	+12.9%	SPONS ADR	639057207
PHG	KONINKLIJKE PHILIPS N V	28,699 (-76.5%)	$701K (-78.9%)	0.4%	$24.43	$26.95	-9.3%	NY REGIS SHS NEW	500472303
VOD	VODAFONE GROUP PLC	50,144 (-61.3%)	$810K (-52.7%)	0.5%	$16.15	$13.56	+19.1%	SPONSORED ADR	92857W308
AEG	AEGON LTD	170,903 (-36.7%)	$1.475M (-35.3%)	0.8%	$8.63	$7.55	+14.4%	AMER REG 1 CERT	0076CA104
DEO	DIAGEO PLC	38,125 (-2.0%)	$3.264M (+4.3%)	1.8%	$85.60	$92.11	-7.1%	SPON ADR NEW	25243Q205

Unchanged Positions (1)

HOOD ROBINHOOD MKTS INC 0.6%

Value $1.052M Shares 9,347 Share Price $112.50 Est. Cost/Share $130.05 Unrealized @ Report Date -13.5%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
HOOD	ROBINHOOD MKTS INC	9,347	$1.052M	0.6%	$112.50	$130.05	-13.5%	COM CL A	770700102