EMERALD MUTUAL FUND ADVISERS TRUST Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PIPR	PIPER SANDLER CO	49,246	$16,729	0.8%	$337.82	0.0%	COM	724078100
TRVI	TREVI THERAPEUTICS	1,272,373	$15,930	0.8%	$11.56	0.0%	COM	89532M101
SYNA	SYNAPTICS INC	208,859	$15,460	0.8%	$70.23	0.0%	COM	87157D109
LMRI	LUMEXA IMAGING HOLDINGS INC	588,665	$10,890	0.5%	$18.05	0.0%	COM	550249106
BLLN	BILLIONTOONE INC	118,134	$9,668	0.5%	$101.40	0.0%	COM	090168105
ATRO	ASTRONICS CORP	156,719	$8,500	0.4%	$50.32	0.0%	COM	046433108
AVAH	AVEANNA HEALTHCARE HOLDINGS	980,433	$8,010	0.4%	$9.03	0.0%	COM	05356F105
CDNL	CARDINAL INFRASTRUCTURE GROUP	299,995	$7,254	0.4%	$24.69	0.0%	COM	14154A102
ENVA	ENOVA INTERNATI	16,603	$2,610	0.1%	$130.16	0.0%	COM	29357K103
BYRN	BYRNA TECHNOLOGIES INC	112,370	$1,887	0.1%	$19.47	0.0%	COM	12448X201
GDOT	GREEN DOT CORP	95,976	$1,229	0.1%	$12.42	0.0%	COM	39304D102
IVVD	INVIVYD INC	428,847	$1,059	0.1%	$2.08	0.0%	COM	00534A102
MVBF	MVB FINANCIAL CORP	27,293	$705	0.0%	$26.43	0.0%	COM	553810102
CHYM	CHIME FINANCIAL	27,736	$698	0.0%	$21.24	0.0%	COM	16935C109
WAY	WAYSTAR HOLDING CORP	16,388	$537	0.0%	$35.62	0.0%	COM	946784105
NEO	NEOGENOMICS INC	44,919	$528	0.0%	$10.79	0.0%	COM	64049M209
MATW	MATTHEWS INTL CORP CL A	10,642	$278	0.0%	$24.17	0.0%	COM	577128101
PXLW	PIXELWORKS INC	29,333	$187	0.0%	$7.66	0.0%	COM	72581M404
OPEN	OPENDOOR TECHNOLOGIES INC	16,576	$97	0.0%	$7.30	0.0%	COM	683712103

Increased Positions (64)

COGT COGENT BIOSCIENCES INC 1.8%

Value ($000) $36,887 (+151.1%) Shares 1,038,494 (+1.5%) Est. Cost $6.66 Unrealized +322.3%

TTI TETRA TECHNOLOGIES 0.8%

Value ($000) $16,118 (+5071.5%) Shares 1,720,205 (+3073.6%) Est. Cost $7.59 Unrealized +1.7%

IMAX IMAX CORP 0.9%

Value ($000) $19,440 (+297.3%) Shares 525,986 (+252.1%) Est. Cost $33.02 Unrealized +5.6%

CECO CECO ENVIRONMENTAL CORP 0.8%

Value ($000) $15,597 (+324.0%) Shares 260,598 (+262.7%) Est. Cost $50.41 Unrealized +6.1%

LIVN LIVANOVA PLC 1.4%

Value ($000) $28,074 (+53.3%) Shares 456,263 (+30.5%) Est. Cost $51.90 Unrealized +10.1%

SYRE SPYRE THERAPEUTICS 0.7%

Value ($000) $13,509 (+161.5%) Shares 412,371 (+33.8%) Est. Cost $27.79 Unrealized -6.0%

LC LENDINGCLUB CORP 0.5%

Value ($000) $10,940 (+282.8%) Shares 577,591 (+207.0%) Est. Cost $16.85 Unrealized +4.8%

EVLV EVOLV TECHNOLOGIES 0.9%

Value ($000) $17,918 (+74.5%) Shares 2,502,489 (+84.0%) Est. Cost $7.21 Unrealized -1.4%

LASR NLIGHT INC 0.8%

Value ($000) $16,121 (+86.9%) Shares 429,772 (+47.6%) Est. Cost $27.57 Unrealized +21.1%

SVRA SAVARA INC 0.7%

Value ($000) $14,451 (+88.2%) Shares 2,396,458 (+11.4%) Est. Cost $3.39 Unrealized +44.6%

VSEC VSE CORPORATION 1.4%

Value ($000) $29,086 (+29.1%) Shares 168,352 (+24.2%) Est. Cost $126.59 Unrealized +35.0%

CORT CORCEPT THERAPEUTICS INC 0.3%

Value ($000) $6,763 (-48.5%) Shares 194,349 (+22.9%) Est. Cost $71.36 Unrealized +10.1%

ACAD ACADIA PHARMACEUTICALS INC 0.6%

Value ($000) $12,941 (+92.3%) Shares 484,506 (+53.7%) Est. Cost $20.75 Unrealized +15.2%

CUBI CUSTOMERS BANCORP INC 0.8%

Value ($000) $15,528 (+63.8%) Shares 212,357 (+46.4%) Est. Cost $66.67 Unrealized +2.9%

AMSC AMERICAN SEMICONDUCTOR CORP 0.6%

Value ($000) $12,526 (-31.5%) Shares 435,246 (+41.4%) Est. Cost $35.58 Unrealized +21.5%

KLIC KULICKE AND SOFFA INDUSTRIES 0.7%

Value ($000) $14,691 (+62.8%) Shares 322,457 (+45.2%) Est. Cost $43.80 Unrealized -3.9%

MC MOELIS & CO 1.2%

Value ($000) $24,989 (+28.2%) Shares 363,523 (+33.0%) Est. Cost $33.91 Unrealized +94.0%

UMBF UMB FINANCIAL CORP 0.9%

Value ($000) $18,247 (+36.1%) Shares 158,617 (+40.0%) Est. Cost $103.18 Unrealized +9.8%

CVLT COMMVAULT SYSTEMS INC 0.6%

Value ($000) $12,885 (-26.5%) Shares 102,780 (+10.6%) Est. Cost $162.85 Unrealized -13.6%

AXSM AXSOME THERAPEUTICS INC 0.6%

Value ($000) $12,348 (+55.2%) Shares 67,608 (+3.2%) Est. Cost $107.09 Unrealized +30.4%

AGX ARGAN INC 0.9%

Value ($000) $18,468 (+30.6%) Shares 58,943 (+12.6%) Est. Cost $238.24 Unrealized +33.0%

AAOI APPLIED OPTOELECTRONICS INC 0.7%

Value ($000) $13,911 (+41.3%) Shares 399,050 (+5.1%) Est. Cost $17.51 Unrealized +70.5%

SLDE SLIDE INSURANCE HOLDINGS INC 0.3%

Value ($000) $7,173 (+124.1%) Shares 368,210 (+81.6%) Est. Cost $19.36 Unrealized -13.8%

SBCF SEACOAST BANKING CORPORATION OF FLORIDA 0.2%

Value ($000) $4,298 (+961.6%) Shares 136,802 (+928.1%) Est. Cost $30.85 Unrealized +1.0%

CCB COASTAL FINANCIAL CORP 0.6%

Value ($000) $12,346 (+46.0%) Shares 107,737 (+37.8%) Est. Cost $80.99 Unrealized +34.7%

BRCB BLACK ROCK COFFEE BAR 0.4%

Value ($000) $7,827 (+94.6%) Shares 351,789 (+108.6%) Est. Cost $24.60 Unrealized -5.7%

SMTC SEMTECH CORP 1.0%

Value ($000) $21,004 (+18.3%) Shares 285,037 (+14.7%) Est. Cost $56.43 Unrealized +25.7%

VITL VITAL FARMS INC 1.1%

Value ($000) $22,296 (-12.4%) Shares 698,053 (+12.8%) Est. Cost $35.23 Unrealized -0.1%

NP NEPTUNE INSURANCE HOLDINGS 0.2%

Value ($000) $3,590 (+624.9%) Shares 123,107 (+397.2%) Est. Cost $25.04 Unrealized +5.1%

MIRM MIRUM PHARMACEUTICALS INC 0.9%

Value ($000) $19,141 (+19.2%) Shares 242,320 (+10.6%) Est. Cost $47.14 Unrealized +52.3%

BOOT BOOT BARN HOLDINGS INC 0.9%

Value ($000) $19,225 (+18.4%) Shares 108,944 (+11.2%) Est. Cost $150.68 Unrealized +23.8%

FRPT FRESHPET INC 0.7%

Value ($000) $15,373 (+24.0%) Shares 252,306 (+12.2%) Est. Cost $31.31 Unrealized +81.2%

NKTR NEKTAR THERAPEUTICS 0.5%

Value ($000) $10,702 (-19.3%) Shares 253,125 (+8.5%) Est. Cost $34.90 Unrealized +60.4%

KRRO KORRO BIO INC 0.0%

Value ($000) $525 (-81.4%) Shares 65,548 (+11.3%) Est. Cost $22.31 Unrealized +4.8%

RSI RUSH STREET INTERACTIVE INC 0.9%

Value ($000) $19,078 (+12.9%) Shares 981,901 (+19.0%) Est. Cost $13.83 Unrealized +33.6%

IPGP IPG PHOTONICS CORP 0.4%

Value ($000) $8,751 (+31.7%) Shares 122,225 (+45.7%) Est. Cost $79.21 Unrealized +3.0%

ICUI ICU MEDICAL INC 0.2%

Value ($000) $3,137 (+186.2%) Shares 21,987 (+140.6%) Est. Cost $130.94 Unrealized +2.3%

SEI SOLARIS ENERGY INFRASTRUCTURE INC 0.7%

Value ($000) $14,344 (+16.2%) Shares 312,027 (+1.0%) Est. Cost $19.82 Unrealized +143.7%

AIR AAR CORPORATION 1.0%

Value ($000) $20,927 (+10.5%) Shares 252,772 (+19.7%) Est. Cost $64.04 Unrealized +29.2%

SKWD SKYWARD SPECIALTY INSURANCE 1.0%

Value ($000) $20,311 (+9.1%) Shares 397,401 (+1.6%) Est. Cost $22.25 Unrealized +116.0%

UTHR UNITED THERAPEUTICS CORP DEL 0.2%

Value ($000) $3,703 (+61.4%) Shares 7,600 (+38.8%) Est. Cost $381.67 Unrealized +22.0%

PWP PERELLA WEINBERG PARTNERS 0.5%

Value ($000) $9,364 (-11.2%) Shares 541,284 (+9.4%) Est. Cost $20.29 Unrealized -8.5%

ARHS ARHAUS INC 0.5%

Value ($000) $11,100 (+11.8%) Shares 990,215 (+6.0%) Est. Cost $9.92 Unrealized +4.7%

PI IMPINJ INC 0.8%

Value ($000) $17,312 (+7.2%) Shares 99,487 (+11.4%) Est. Cost $105.44 Unrealized +69.0%

BWMN BOWMAN CONSULTING GROUP LTD 0.1%

Value ($000) $2,560 (+49.8%) Shares 77,533 (+92.1%) Est. Cost $33.54 Unrealized +13.0%

FWRG FIRST WATCH RESTAURANT GROUP 0.4%

Value ($000) $8,587 (+10.2%) Shares 569,418 (+14.3%) Est. Cost $17.07 Unrealized -1.2%

ESE ESCO TECHNOLOGIES INC 0.9%

Value ($000) $19,246 (+4.3%) Shares 98,502 (+12.7%) Est. Cost $186.38 Unrealized +13.1%

EE EXCELERATE ENERGY INC 0.3%

Value ($000) $5,171 (+18.0%) Shares 184,338 (+6.0%) Est. Cost $27.80 Unrealized -2.8%

ARLO ARLO TECHNOLOGIES 0.8%

Value ($000) $17,324 (+4.3%) Shares 1,238,321 (+26.4%) Est. Cost $12.84 Unrealized +22.6%

GMED GLOBUS MEDICAL INC 0.1%

Value ($000) $1,481 (+81.3%) Shares 16,959 (+18.9%) Est. Cost $80.47 Unrealized -5.7%

MPB MID PENN BANCORP INC 0.2%

Value ($000) $4,790 (+15.8%) Shares 154,411 (+6.9%) Est. Cost $25.54 Unrealized +14.4%

INSM INSMED INC 0.1%

Value ($000) $2,304 (+29.9%) Shares 13,241 (+7.5%) Est. Cost $31.00 Unrealized +488.7%

MDB MONGODB INC 0.0%

Value ($000) $486 (+281.3%) Shares 1,159 (+182.0%) Est. Cost $347.59 Unrealized +4.7%

BIIB BIOGEN IDEC INC 0.0%

Value ($000) $434 (+397.1%) Shares 2,465 (+295.7%) Est. Cost $156.25 Unrealized +4.6%

FTAI FTAI AVIATION LTD 0.0%

Value ($000) $543 (+160.5%) Shares 2,758 (+120.8%) Est. Cost $105.68 Unrealized +61.1%

GENI GENIUS SPORTS LIMITED 0.0%

Value ($000) $427 (+159.9%) Shares 38,748 (+192.0%) Est. Cost $10.32 Unrealized +5.7%

TTWO TAKE TWO INTERACTIVE SOFTWARE 0.0%

Value ($000) $459 (+122.1%) Shares 1,791 (+124.2%) Est. Cost $234.10 Unrealized +6.5%

BWXT BWX TECHNOLOGIES INC 0.0%

Value ($000) $332 (+240.6%) Shares 1,922 (+263.3%) Est. Cost $168.44 Unrealized +11.3%

INDI INDIE SEMICONDUCTOR INC 0.0%

Value ($000) $291 (+216.1%) Shares 82,400 (+264.4%) Est. Cost $4.82 Unrealized -9.0%

GLNG GOLAR LNG LIMITED 0.0%

Value ($000) $269 (+234.9%) Shares 7,233 (+263.7%) Est. Cost $38.34 Unrealized -0.6%

MP MP MATERIALS CORP 0.0%

Value ($000) $278 (+209.9%) Shares 5,496 (+311.4%) Est. Cost $63.29 Unrealized +0.2%

GBFH GBANK FINANCIAL HOLDINGS INC 0.2%

Value ($000) $3,345 (-4.0%) Shares 98,689 (+11.3%) Est. Cost $37.35 Unrealized -2.0%

MTZ MASTEC INC 0.0%

Value ($000) $292 (+58.7%) Shares 1,342 (+55.3%) Est. Cost $161.61 Unrealized +29.9%

HOOD ROBINHOOD MARKETS INC 0.1%

Value ($000) $1,989 (-4.7%) Shares 17,587 (+20.7%) Est. Cost $90.88 Unrealized +43.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
COGT	COGENT BIOSCIENCES INC	1,038,494 (+1.5%)	$36,887 (+151.1%)	1.8%	$6.66	+322.3%	COM	19240Q201
TTI	TETRA TECHNOLOGIES	1,720,205 (+3073.6%)	$16,118 (+5071.5%)	0.8%	$7.59	+1.7%	COM	88162F105
IMAX	IMAX CORP	525,986 (+252.1%)	$19,440 (+297.3%)	0.9%	$33.02	+5.6%	COM	45245E109
CECO	CECO ENVIRONMENTAL CORP	260,598 (+262.7%)	$15,597 (+324.0%)	0.8%	$50.41	+6.1%	COM	125141101
LIVN	LIVANOVA PLC	456,263 (+30.5%)	$28,074 (+53.3%)	1.4%	$51.90	+10.1%	COM	G5509L101
SYRE	SPYRE THERAPEUTICS	412,371 (+33.8%)	$13,509 (+161.5%)	0.7%	$27.79	-6.0%	COM	00773J202
LC	LENDINGCLUB CORP	577,591 (+207.0%)	$10,940 (+282.8%)	0.5%	$16.85	+4.8%	COM	52603A208
EVLV	EVOLV TECHNOLOGIES	2,502,489 (+84.0%)	$17,918 (+74.5%)	0.9%	$7.21	-1.4%	COM	30049H102
LASR	NLIGHT INC	429,772 (+47.6%)	$16,121 (+86.9%)	0.8%	$27.57	+21.1%	COM	65487K100
SVRA	SAVARA INC	2,396,458 (+11.4%)	$14,451 (+88.2%)	0.7%	$3.39	+44.6%	COM	805111101
VSEC	VSE CORPORATION	168,352 (+24.2%)	$29,086 (+29.1%)	1.4%	$126.59	+35.0%	COM	918284100
CORT	CORCEPT THERAPEUTICS INC	194,349 (+22.9%)	$6,763 (-48.5%)	0.3%	$71.36	+10.1%	COM	218352102
ACAD	ACADIA PHARMACEUTICALS INC	484,506 (+53.7%)	$12,941 (+92.3%)	0.6%	$20.75	+15.2%	COM	004225108
CUBI	CUSTOMERS BANCORP INC	212,357 (+46.4%)	$15,528 (+63.8%)	0.8%	$66.67	+2.9%	COM	23204G100
AMSC	AMERICAN SEMICONDUCTOR CORP	435,246 (+41.4%)	$12,526 (-31.5%)	0.6%	$35.58	+21.5%	COM	030111207
KLIC	KULICKE AND SOFFA INDUSTRIES	322,457 (+45.2%)	$14,691 (+62.8%)	0.7%	$43.80	-3.9%	COM	501242101
MC	MOELIS & CO	363,523 (+33.0%)	$24,989 (+28.2%)	1.2%	$33.91	+94.0%	COM	60786M105
UMBF	UMB FINANCIAL CORP	158,617 (+40.0%)	$18,247 (+36.1%)	0.9%	$103.18	+9.8%	COM	902788108
CVLT	COMMVAULT SYSTEMS INC	102,780 (+10.6%)	$12,885 (-26.5%)	0.6%	$162.85	-13.6%	COM	204166102
AXSM	AXSOME THERAPEUTICS INC	67,608 (+3.2%)	$12,348 (+55.2%)	0.6%	$107.09	+30.4%	COM	05464T104
AGX	ARGAN INC	58,943 (+12.6%)	$18,468 (+30.6%)	0.9%	$238.24	+33.0%	COM	04010E109
AAOI	APPLIED OPTOELECTRONICS INC	399,050 (+5.1%)	$13,911 (+41.3%)	0.7%	$17.51	+70.5%	COM	03823U102
SLDE	SLIDE INSURANCE HOLDINGS INC	368,210 (+81.6%)	$7,173 (+124.1%)	0.3%	$19.36	-13.8%	COM	831349105
SBCF	SEACOAST BANKING CORPORATION OF FLORIDA	136,802 (+928.1%)	$4,298 (+961.6%)	0.2%	$30.85	+1.0%	COM	811707801
CCB	COASTAL FINANCIAL CORP	107,737 (+37.8%)	$12,346 (+46.0%)	0.6%	$80.99	+34.7%	COM	19046P209
BRCB	BLACK ROCK COFFEE BAR	351,789 (+108.6%)	$7,827 (+94.6%)	0.4%	$24.60	-5.7%	COM	092244102
SMTC	SEMTECH CORP	285,037 (+14.7%)	$21,004 (+18.3%)	1.0%	$56.43	+25.7%	COM	816850101
VITL	VITAL FARMS INC	698,053 (+12.8%)	$22,296 (-12.4%)	1.1%	$35.23	-0.1%	COM	92847W103
NP	NEPTUNE INSURANCE HOLDINGS	123,107 (+397.2%)	$3,590 (+624.9%)	0.2%	$25.04	+5.1%	COM	64073B103
MIRM	MIRUM PHARMACEUTICALS INC	242,320 (+10.6%)	$19,141 (+19.2%)	0.9%	$47.14	+52.3%	COM	604749101
BOOT	BOOT BARN HOLDINGS INC	108,944 (+11.2%)	$19,225 (+18.4%)	0.9%	$150.68	+23.8%	COM	099406100
FRPT	FRESHPET INC	252,306 (+12.2%)	$15,373 (+24.0%)	0.7%	$31.31	+81.2%	COM	358039105
NKTR	NEKTAR THERAPEUTICS	253,125 (+8.5%)	$10,702 (-19.3%)	0.5%	$34.90	+60.4%	COM	640268306
KRRO	KORRO BIO INC	65,548 (+11.3%)	$525 (-81.4%)	0.0%	$22.31	+4.8%	COM	500946108
RSI	RUSH STREET INTERACTIVE INC	981,901 (+19.0%)	$19,078 (+12.9%)	0.9%	$13.83	+33.6%	COM	782011100
IPGP	IPG PHOTONICS CORP	122,225 (+45.7%)	$8,751 (+31.7%)	0.4%	$79.21	+3.0%	COM	44980X109
ICUI	ICU MEDICAL INC	21,987 (+140.6%)	$3,137 (+186.2%)	0.2%	$130.94	+2.3%	COM	44930G107
SEI	SOLARIS ENERGY INFRASTRUCTURE INC	312,027 (+1.0%)	$14,344 (+16.2%)	0.7%	$19.82	+143.7%	COM	83418M103
AIR	AAR CORPORATION	252,772 (+19.7%)	$20,927 (+10.5%)	1.0%	$64.04	+29.2%	COM	000361105
SKWD	SKYWARD SPECIALTY INSURANCE	397,401 (+1.6%)	$20,311 (+9.1%)	1.0%	$22.25	+116.0%	COM	830940102
UTHR	UNITED THERAPEUTICS CORP DEL	7,600 (+38.8%)	$3,703 (+61.4%)	0.2%	$381.67	+22.0%	COM	91307C102
PWP	PERELLA WEINBERG PARTNERS	541,284 (+9.4%)	$9,364 (-11.2%)	0.5%	$20.29	-8.5%	COM	71367G102
ARHS	ARHAUS INC	990,215 (+6.0%)	$11,100 (+11.8%)	0.5%	$9.92	+4.7%	COM	04035M102
PI	IMPINJ INC	99,487 (+11.4%)	$17,312 (+7.2%)	0.8%	$105.44	+69.0%	COM	453204109
BWMN	BOWMAN CONSULTING GROUP LTD	77,533 (+92.1%)	$2,560 (+49.8%)	0.1%	$33.54	+13.0%	COM	103002101
FWRG	FIRST WATCH RESTAURANT GROUP	569,418 (+14.3%)	$8,587 (+10.2%)	0.4%	$17.07	-1.2%	COM	33748L101
ESE	ESCO TECHNOLOGIES INC	98,502 (+12.7%)	$19,246 (+4.3%)	0.9%	$186.38	+13.1%	COM	296315104
EE	EXCELERATE ENERGY INC	184,338 (+6.0%)	$5,171 (+18.0%)	0.3%	$27.80	-2.8%	COM	30069T101
ARLO	ARLO TECHNOLOGIES	1,238,321 (+26.4%)	$17,324 (+4.3%)	0.8%	$12.84	+22.6%	COM	04206A101
GMED	GLOBUS MEDICAL INC	16,959 (+18.9%)	$1,481 (+81.3%)	0.1%	$80.47	-5.7%	COM	379577208
MPB	MID PENN BANCORP INC	154,411 (+6.9%)	$4,790 (+15.8%)	0.2%	$25.54	+14.4%	COM	59540G107
INSM	INSMED INC	13,241 (+7.5%)	$2,304 (+29.9%)	0.1%	$31.00	+488.7%	COM	457669307
MDB	MONGODB INC	1,159 (+182.0%)	$486 (+281.3%)	0.0%	$347.59	+4.7%	COM	60937P106
BIIB	BIOGEN IDEC INC	2,465 (+295.7%)	$434 (+397.1%)	0.0%	$156.25	+4.6%	COM	09062X103
FTAI	FTAI AVIATION LTD	2,758 (+120.8%)	$543 (+160.5%)	0.0%	$105.68	+61.1%	COM	G3730V105
GENI	GENIUS SPORTS LIMITED	38,748 (+192.0%)	$427 (+159.9%)	0.0%	$10.32	+5.7%	COM	G3934V109
TTWO	TAKE TWO INTERACTIVE SOFTWARE	1,791 (+124.2%)	$459 (+122.1%)	0.0%	$234.10	+6.5%	COM	874054109
BWXT	BWX TECHNOLOGIES INC	1,922 (+263.3%)	$332 (+240.6%)	0.0%	$168.44	+11.3%	COM	05605H100
INDI	INDIE SEMICONDUCTOR INC	82,400 (+264.4%)	$291 (+216.1%)	0.0%	$4.82	-9.0%	COM	45569U101
GLNG	GOLAR LNG LIMITED	7,233 (+263.7%)	$269 (+234.9%)	0.0%	$38.34	-0.6%	COM	G9456A100
MP	MP MATERIALS CORP	5,496 (+311.4%)	$278 (+209.9%)	0.0%	$63.29	+0.2%	COM	553368101
GBFH	GBANK FINANCIAL HOLDINGS INC	98,689 (+11.3%)	$3,345 (-4.0%)	0.2%	$37.35	-2.0%	COM	36166F100
MTZ	MASTEC INC	1,342 (+55.3%)	$292 (+58.7%)	0.0%	$161.61	+29.9%	COM	576323109
HOOD	ROBINHOOD MARKETS INC	17,587 (+20.7%)	$1,989 (-4.7%)	0.1%	$90.88	+43.1%	COM	770700102

Exited Positions (49)

LIF LIFE360 INC 0.5%

Value ($000) $11,052 Shares 103,971 Est. Cost $33.59 Unrealized +147.3%

CWAN CLEARWATER ANALYTICS HDS 0.5%

Value ($000) $10,682 Shares 592,802 Est. Cost $22.96 Unrealized -12.8%

MTSI MACOM TECHNOLOGY SOLUTIONS 0.5%

Value ($000) $9,882 Shares 79,376 Est. Cost $26.39 Unrealized +501.3%

RHP RYMAN HOSPITALITY PROPERTIES 0.4%

Value ($000) $8,315 Shares 92,807 Est. Cost $80.63 Unrealized —

NSSC NAPCO SECURITY 0.4%

Value ($000) $8,139 Shares 189,495 Est. Cost $39.90 Unrealized +5.2%

CADE CADENCE BANK 0.4%

Value ($000) $7,853 Shares 209,194 Est. Cost $32.83 Unrealized +20.0%

— 89BIO INC 0.4%

Value ($000) $7,527 Shares 512,051 Est. Cost $7.41 Unrealized —

SOC SABLE OFFSHORE CORP 0.3%

Value ($000) $6,204 Shares 355,324 Est. Cost $22.58 Unrealized -58.2%

— AKERO THERAPEUTCS INC 0.3%

Value ($000) $5,258 Shares 110,747 Est. Cost $24.74 Unrealized —

CCOI COGENT COMMUNICATIONS HOLDINGS 0.2%

Value ($000) $3,350 Shares 87,356 Est. Cost $38.04 Unrealized -22.5%

BHVN BIOHAVEN LTD 0.1%

Value ($000) $2,607 Shares 173,656 Est. Cost $46.08 Unrealized -73.1%

NVDA NVIDIA CORPORATION 0.1%

Value ($000) $2,154 Shares 11,547 Est. Cost $93.04 Unrealized +100.1%

PAL PROFICIENT AUTO LOGISTICS INC 0.1%

Value ($000) $1,883 Shares 273,289 Est. Cost $12.25 Unrealized -35.9%

BWIN BALDWIN INSURANCE GROUP INC 0.1%

Value ($000) $1,470 Shares 52,120 Est. Cost $17.62 Unrealized +44.6%

MSFT MICROSOFT CORP 0.1%

Value ($000) $1,434 Shares 2,769 Est. Cost $189.71 Unrealized +163.9%

OMDA OMADA HEALTH INC 0.1%

Value ($000) $1,369 Shares 61,925 Est. Cost $17.31 Unrealized +17.2%

AAPL APPLE INC 0.1%

Value ($000) $1,121 Shares 4,401 Est. Cost $123.97 Unrealized +116.5%

OFIX ORTHOFIX MEDICAL INC 0.0%

Value ($000) $971 Shares 66,322 Est. Cost $16.34 Unrealized -6.6%

GOOGL ALPHABET INC CLA A 0.0%

Value ($000) $869 Shares 3,574 Est. Cost $117.57 Unrealized +142.9%

AMZN AMAZON.COM, INC 0.0%

Value ($000) $841 Shares 3,832 Est. Cost $128.22 Unrealized +78.4%

SSB SOUTHSTATE BANK CORP 0.0%

Value ($000) $784 Shares 7,930 Est. Cost $96.71 Unrealized -5.0%

RXO RXO INC 0.0%

Value ($000) $736 Shares 47,836 Est. Cost $23.30 Unrealized -36.7%

META META PLATFORMS INC 0.0%

Value ($000) $734 Shares 1,000 Est. Cost $290.30 Unrealized +129.9%

CNOB CONNECTONE BANCORP INC 0.0%

Value ($000) $629 Shares 25,356 Est. Cost $18.32 Unrealized +36.8%

NU NU HOLDINGS LTD 0.0%

Value ($000) $601 Shares 37,532 Est. Cost $13.95 Unrealized +15.2%

LOB LIVE OAK BANCSHARES INC 0.0%

Value ($000) $512 Shares 14,526 Est. Cost $34.45 Unrealized -2.8%

FFIN FIRST FINL BANCSHARES INC 0.0%

Value ($000) $468 Shares 13,910 Est. Cost $33.69 Unrealized -6.9%

BY BYLINE BANCORP INC 0.0%

Value ($000) $451 Shares 16,270 Est. Cost $21.28 Unrealized +31.4%

NFLX NETFLIX INC 0.0%

Value ($000) $259 Shares 216 Est. Cost $61.83 Unrealized +74.4%

NVCR NOVOCURE LTD 0.0%

Value ($000) $248 Shares 19,173 Est. Cost $21.16 Unrealized -39.3%

TJX TJX COS. 0.0%

Value ($000) $246 Shares 1,704 Est. Cost $68.13 Unrealized +116.8%

FITB FIFTH THIRD BANCORP 0.0%

Value ($000) $202 Shares 4,530 Est. Cost $23.11 Unrealized +88.9%

LNG CHENIERE ENERGY INC 0.0%

Value ($000) $198 Shares 844 Est. Cost $158.00 Unrealized +32.9%

APP APPLOVIN CORP 0.0%

Value ($000) $190 Shares 265 Est. Cost $461.14 Unrealized +36.6%

NCLH NORWEGIAN CRUISE LINE HOLDINGS LTD 0.0%

Value ($000) $176 Shares 7,145 Est. Cost $24.08 Unrealized -12.3%

LLY ELI LILLY & CO 0.0%

Value ($000) $175 Shares 230 Est. Cost $752.66 Unrealized +27.0%

V VISA INC-CLASS A 0.0%

Value ($000) $162 Shares 476 Est. Cost $216.21 Unrealized +57.4%

COST COSTCO WHOLESALE CORP 0.0%

Value ($000) $156 Shares 169 Est. Cost $499.48 Unrealized +81.3%

TSLA TESLA MOTORS, INC 0.0%

Value ($000) $154 Shares 346 Est. Cost $211.66 Unrealized +109.4%

PANW PALO ALTO NETWORKS, INC 0.0%

Value ($000) $148 Shares 729 Est. Cost $146.64 Unrealized +37.6%

DASH DOORDASH INC 0.0%

Value ($000) $130 Shares 479 Est. Cost $188.06 Unrealized +24.7%

ORCL ORACLE SYS CORP 0.0%

Value ($000) $125 Shares 445 Est. Cost $175.85 Unrealized +35.4%

RPAY REPAY HOLDINGS CORP CL A 0.0%

Value ($000) $98 Shares 18,667 Est. Cost $5.35 Unrealized -25.1%

CPAY CORPAY INC 0.0%

Value ($000) $93 Shares 323 Est. Cost $318.77 Unrealized -8.9%

AZO AUTOZONE INC 0.0%

Value ($000) $82 Shares 19 Est. Cost $3686.04 Unrealized +2.5%

DDOG DATADOG INC 0.0%

Value ($000) $75 Shares 527 Est. Cost $137.35 Unrealized +15.1%

SMCI SUPER MICRO COMPUTER INC 0.0%

Value ($000) $70 Shares 1,451 Est. Cost $37.52 Unrealized +9.7%

BKR BAKER HUGHES COMPANY 0.0%

Value ($000) $65 Shares 1,342 Est. Cost $43.83 Unrealized +8.0%

PLTR PALANTIR TECHNOLOGIES INC 0.0%

Value ($000) $65 Shares 357 Est. Cost $117.28 Unrealized +54.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LIF	LIFE360 INC	103,971	$11,052	0.5%	$33.59	+147.3%	—	532206109
CWAN	CLEARWATER ANALYTICS HDS	592,802	$10,682	0.5%	$22.96	-12.8%	—	185123106
MTSI	MACOM TECHNOLOGY SOLUTIONS	79,376	$9,882	0.5%	$26.39	+501.3%	—	55405Y100
RHP	RYMAN HOSPITALITY PROPERTIES	92,807	$8,315	0.4%	$80.63	—	—	78377T107
NSSC	NAPCO SECURITY	189,495	$8,139	0.4%	$39.90	+5.2%	—	630402105
CADE	CADENCE BANK	209,194	$7,853	0.4%	$32.83	+20.0%	—	12740C103
—	89BIO INC	512,051	$7,527	0.4%	$7.41	—	—	282559103
SOC	SABLE OFFSHORE CORP	355,324	$6,204	0.3%	$22.58	-58.2%	—	78574H104
—	AKERO THERAPEUTCS INC	110,747	$5,258	0.3%	$24.74	—	—	00973Y108
CCOI	COGENT COMMUNICATIONS HOLDINGS	87,356	$3,350	0.2%	$38.04	-22.5%	—	19239V302
BHVN	BIOHAVEN LTD	173,656	$2,607	0.1%	$46.08	-73.1%	—	G1110E107
NVDA	NVIDIA CORPORATION	11,547	$2,154	0.1%	$93.04	+100.1%	—	67066G104
PAL	PROFICIENT AUTO LOGISTICS INC	273,289	$1,883	0.1%	$12.25	-35.9%	—	74317M104
BWIN	BALDWIN INSURANCE GROUP INC	52,120	$1,470	0.1%	$17.62	+44.6%	—	05589G102
MSFT	MICROSOFT CORP	2,769	$1,434	0.1%	$189.71	+163.9%	—	594918104
OMDA	OMADA HEALTH INC	61,925	$1,369	0.1%	$17.31	+17.2%	—	68170A108
AAPL	APPLE INC	4,401	$1,121	0.1%	$123.97	+116.5%	—	037833100
OFIX	ORTHOFIX MEDICAL INC	66,322	$971	0.0%	$16.34	-6.6%	—	68752M108
GOOGL	ALPHABET INC CLA A	3,574	$869	0.0%	$117.57	+142.9%	—	02079K305
AMZN	AMAZON.COM, INC	3,832	$841	0.0%	$128.22	+78.4%	—	023135106
SSB	SOUTHSTATE BANK CORP	7,930	$784	0.0%	$96.71	-5.0%	—	84472E102
RXO	RXO INC	47,836	$736	0.0%	$23.30	-36.7%	—	74982T103
META	META PLATFORMS INC	1,000	$734	0.0%	$290.30	+129.9%	—	30303M102
CNOB	CONNECTONE BANCORP INC	25,356	$629	0.0%	$18.32	+36.8%	—	20786W107
NU	NU HOLDINGS LTD	37,532	$601	0.0%	$13.95	+15.2%	—	G6683N103
LOB	LIVE OAK BANCSHARES INC	14,526	$512	0.0%	$34.45	-2.8%	—	53803X105
FFIN	FIRST FINL BANCSHARES INC	13,910	$468	0.0%	$33.69	-6.9%	—	32020R109
BY	BYLINE BANCORP INC	16,270	$451	0.0%	$21.28	+31.4%	—	124411109
NFLX	NETFLIX INC	216	$259	0.0%	$61.83	+74.4%	—	64110L106
NVCR	NOVOCURE LTD	19,173	$248	0.0%	$21.16	-39.3%	—	G6674U108
TJX	TJX COS.	1,704	$246	0.0%	$68.13	+116.8%	—	872540109
FITB	FIFTH THIRD BANCORP	4,530	$202	0.0%	$23.11	+88.9%	—	316773100
LNG	CHENIERE ENERGY INC	844	$198	0.0%	$158.00	+32.9%	—	16411R208
APP	APPLOVIN CORP	265	$190	0.0%	$461.14	+36.6%	—	03831W108
NCLH	NORWEGIAN CRUISE LINE HOLDINGS LTD	7,145	$176	0.0%	$24.08	-12.3%	—	G66721104
LLY	ELI LILLY & CO	230	$175	0.0%	$752.66	+27.0%	—	532457108
V	VISA INC-CLASS A	476	$162	0.0%	$216.21	+57.4%	—	92826C839
COST	COSTCO WHOLESALE CORP	169	$156	0.0%	$499.48	+81.3%	—	22160K105
TSLA	TESLA MOTORS, INC	346	$154	0.0%	$211.66	+109.4%	—	88160R101
PANW	PALO ALTO NETWORKS, INC	729	$148	0.0%	$146.64	+37.6%	—	697435105
DASH	DOORDASH INC	479	$130	0.0%	$188.06	+24.7%	—	25809K105
ORCL	ORACLE SYS CORP	445	$125	0.0%	$175.85	+35.4%	—	68389X105
RPAY	REPAY HOLDINGS CORP CL A	18,667	$98	0.0%	$5.35	-25.1%	—	76029L100
CPAY	CORPAY INC	323	$93	0.0%	$318.77	-8.9%	—	219948106
AZO	AUTOZONE INC	19	$82	0.0%	$3686.04	+2.5%	—	053332102
DDOG	DATADOG INC	527	$75	0.0%	$137.35	+15.1%	—	23804L103
SMCI	SUPER MICRO COMPUTER INC	1,451	$70	0.0%	$37.52	+9.7%	—	86800U302
BKR	BAKER HUGHES COMPANY	1,342	$65	0.0%	$43.83	+8.0%	—	05722G100
PLTR	PALANTIR TECHNOLOGIES INC	357	$65	0.0%	$117.28	+54.4%	—	69608A108

Decreased Positions (48)

GH GUARDANT HEALTH INC 2.6%

Value ($000) $53,514 (+54.0%) Shares 523,932 (-5.8%) Est. Cost $46.22 Unrealized +93.5%

SLNO SOLENO THERAPEUTICS INC 0.5%

Value ($000) $10,764 (-58.1%) Shares 232,485 (-38.8%) Est. Cost $30.91 Unrealized +77.4%

AVAV AEROVIRONMENT INC 1.5%

Value ($000) $30,404 (-31.8%) Shares 125,692 (-11.2%) Est. Cost $98.90 Unrealized +217.9%

KTOS KRATOS DEFENSE AND SECURITY 1.9%

Value ($000) $39,642 (-26.1%) Shares 522,224 (-11.0%) Est. Cost $10.84 Unrealized +655.2%

IDCC INTERDIGITAL INC PA COM 0.5%

Value ($000) $9,668 (-54.2%) Shares 30,367 (-50.4%) Est. Cost $122.92 Unrealized +187.6%

WVE WAVE LIFE SCIENCES LTD 1.2%

Value ($000) $24,049 (+86.0%) Shares 1,414,665 (-19.9%) Est. Cost $5.74 Unrealized +76.9%

SITM SITIME CORPORATION 0.9%

Value ($000) $18,657 (-37.3%) Shares 52,825 (-46.5%) Est. Cost $195.66 Unrealized +59.9%

RDNT RADNET INC 0.9%

Value ($000) $17,926 (-36.9%) Shares 251,246 (-32.6%) Est. Cost $32.64 Unrealized +136.6%

CRDO CREDO TECHNOLOGY GROUP HOLDINGS 2.1%

Value ($000) $42,503 (-16.5%) Shares 295,387 (-15.5%) Est. Cost $14.28 Unrealized +976.6%

TVTX TRAVERE THERAPEUTICS INC 1.8%

Value ($000) $36,241 (+26.3%) Shares 948,459 (-21.0%) Est. Cost $13.22 Unrealized +146.0%

HIMS HIMS & HERS HEALTH INC 0.2%

Value ($000) $4,788 (-53.9%) Shares 147,460 (-19.6%) Est. Cost $51.24 Unrealized -16.4%

ATEC ALPHATEC HOLDINGS INC 0.9%

Value ($000) $19,148 (+37.7%) Shares 910,053 (-4.8%) Est. Cost $10.60 Unrealized +74.6%

TENB TENABLE HOLDING 0.1%

Value ($000) $2,202 (-69.5%) Shares 93,572 (-62.2%) Est. Cost $42.25 Unrealized -35.3%

RARE ULTRAGENYX PHARMACEUTICAL INC 0.1%

Value ($000) $2,772 (-62.1%) Shares 120,505 (-50.4%) Est. Cost $62.67 Unrealized -47.5%

MMSI MERIT MED SYS INC 0.5%

Value ($000) $9,312 (-32.5%) Shares 105,651 (-36.3%) Est. Cost $60.23 Unrealized +41.3%

COLL COLLEGIUM PHARMACEUTICAL INC 0.9%

Value ($000) $18,134 (+31.0%) Shares 391,670 (-1.0%) Est. Cost $21.54 Unrealized +94.2%

ITGR INTEGER HOLDINGS CORP 0.1%

Value ($000) $2,001 (-68.2%) Shares 25,512 (-58.0%) Est. Cost $111.36 Unrealized -28.4%

BE BLOOM ENERGY CO 1.5%

Value ($000) $30,533 (-11.8%) Shares 351,401 (-14.2%) Est. Cost $31.37 Unrealized +234.9%

EYE NATIONAL VISION HOLDINGS 1.2%

Value ($000) $24,207 (-14.2%) Shares 937,540 (-3.0%) Est. Cost $22.70 Unrealized +18.5%

LITE LUMENTUM HOLDINGS INC 1.6%

Value ($000) $32,040 (-8.7%) Shares 86,925 (-59.7%) Est. Cost $51.37 Unrealized +400.0%

BOW BOWHEAD SPECIALTY HOLDINGS 0.0%

Value ($000) $254 (-91.9%) Shares 8,914 (-92.3%) Est. Cost $25.56 Unrealized +3.8%

BBIO BRIDGEBIO PHARMA INC 1.2%

Value ($000) $24,231 (+13.4%) Shares 316,784 (-23.0%) Est. Cost $20.67 Unrealized +217.5%

FOUR SHIFT4 PAYMENTS INC 0.5%

Value ($000) $10,407 (-20.8%) Shares 165,269 (-2.6%) Est. Cost $54.78 Unrealized +29.0%

TREE LENDINGTREE INC 0.6%

Value ($000) $11,588 (-18.9%) Shares 218,269 (-1.1%) Est. Cost $41.19 Unrealized —

TTMI TTM TECHNOLOGIES INC 1.8%

Value ($000) $37,768 (+7.6%) Shares 547,363 (-10.2%) Est. Cost $21.08 Unrealized +209.7%

KALV KALVISTA PHARMACEUTICALS INC 0.7%

Value ($000) $13,816 (+23.6%) Shares 855,461 (-6.8%) Est. Cost $12.93 Unrealized +2.4%

ASIC ATEGRITY SPECIALTY HOLDINGS 0.1%

Value ($000) $1,128 (-67.2%) Shares 53,669 (-69.2%) Est. Cost $22.88 Unrealized -17.4%

ALGT ALLEGIANT TRAVEL CO 0.9%

Value ($000) $18,062 (+13.9%) Shares 211,825 (-18.8%) Est. Cost $67.46 Unrealized +6.0%

FA FIRST ADVANTAGE CORP 0.5%

Value ($000) $9,775 (-17.8%) Shares 672,716 (-12.9%) Est. Cost $15.94 Unrealized -11.6%

UTZ UTZ BRANDS INC 0.0%

Value ($000) $749 (-71.6%) Shares 72,163 (-66.7%) Est. Cost $16.48 Unrealized -34.6%

LTH LIFETIME GROUP HOLDINGS INC 0.5%

Value ($000) $9,449 (-16.6%) Shares 355,492 (-13.4%) Est. Cost $29.38 Unrealized -11.4%

EVER EVERQUOTE INC 0.5%

Value ($000) $11,113 (+16.6%) Shares 411,606 (-1.2%) Est. Cost $23.14 Unrealized +4.7%

MDGL MADRIGAL PHARMACEUTICALS INC 0.7%

Value ($000) $14,556 (-9.6%) Shares 24,996 (-28.8%) Est. Cost $264.33 Unrealized +93.2%

TMDX TRANSMEDICS GROUP INC 1.4%

Value ($000) $27,967 (+4.5%) Shares 229,901 (-3.6%) Est. Cost $60.10 Unrealized +108.8%

QTWO Q2 HOLDINGS INC 1.0%

Value ($000) $20,331 (-5.5%) Shares 281,749 (-5.2%) Est. Cost $39.98 Unrealized +71.7%

FINW FINWISE BANCORP 0.0%

Value ($000) $975 (-41.1%) Shares 54,364 (-36.4%) Est. Cost $13.23 Unrealized +38.1%

ZVIA ZEVIA PBC 0.1%

Value ($000) $1,856 (-26.2%) Shares 800,124 (-13.4%) Est. Cost $2.54 Unrealized -2.3%

WSBC WESBANCO INC 0.1%

Value ($000) $3,021 (-14.4%) Shares 90,898 (-17.8%) Est. Cost $32.96 Unrealized -1.9%

WTFC WINTRUST FINANCIAL CORP 0.1%

Value ($000) $1,221 (-29.2%) Shares 8,733 (-32.9%) Est. Cost $90.27 Unrealized +47.3%

NWFL NORWOOD FINANCIAL CORP 0.0%

Value ($000) $701 (-37.6%) Shares 25,000 (-43.4%) Est. Cost $29.13 Unrealized -6.4%

AVGO BROADCOM LTD 0.0%

Value ($000) $421 (-47.4%) Shares 1,216 (-49.9%) Est. Cost $156.66 Unrealized +127.9%

WAL WESTERN ALLIANCE BANCORP 0.1%

Value ($000) $1,206 (-22.4%) Shares 14,347 (-20.0%) Est. Cost $32.90 Unrealized +145.1%

KNSL KINSALE CAPITAL GROUP INC 0.0%

Value ($000) $208 (-54.8%) Shares 533 (-50.8%) Est. Cost $19.59 Unrealized +1981.5%

BUSE FIRST BUSEY CORP 0.0%

Value ($000) $247 (-49.4%) Shares 10,400 (-50.8%) Est. Cost $24.20 Unrealized -4.1%

CBLL CERIBELL INC 0.1%

Value ($000) $2,020 (+13.2%) Shares 92,131 (-40.7%) Est. Cost $20.84 Unrealized -25.5%

UBSI UNITED BANKSHARES INC 0.0%

Value ($000) $531 (-29.1%) Shares 13,818 (-31.3%) Est. Cost $35.38 Unrealized +5.3%

MCB METROPOLITAN BANK HOLDING CO 0.1%

Value ($000) $2,243 (-3.5%) Shares 29,370 (-5.5%) Est. Cost $54.68 Unrealized +35.1%

NBN NORTHEAST BANCORP 0.1%

Value ($000) $2,316 (+1.2%) Shares 22,289 (-2.5%) Est. Cost $38.47 Unrealized +142.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GH	GUARDANT HEALTH INC	523,932 (-5.8%)	$53,514 (+54.0%)	2.6%	$46.22	+93.5%	COM	40131M109
SLNO	SOLENO THERAPEUTICS INC	232,485 (-38.8%)	$10,764 (-58.1%)	0.5%	$30.91	+77.4%	COM	834203309
AVAV	AEROVIRONMENT INC	125,692 (-11.2%)	$30,404 (-31.8%)	1.5%	$98.90	+217.9%	COM	008073108
KTOS	KRATOS DEFENSE AND SECURITY	522,224 (-11.0%)	$39,642 (-26.1%)	1.9%	$10.84	+655.2%	COM	50077B207
IDCC	INTERDIGITAL INC PA COM	30,367 (-50.4%)	$9,668 (-54.2%)	0.5%	$122.92	+187.6%	COM	45867G101
WVE	WAVE LIFE SCIENCES LTD	1,414,665 (-19.9%)	$24,049 (+86.0%)	1.2%	$5.74	+76.9%	COM	Y95308105
SITM	SITIME CORPORATION	52,825 (-46.5%)	$18,657 (-37.3%)	0.9%	$195.66	+59.9%	COM	82982T106
RDNT	RADNET INC	251,246 (-32.6%)	$17,926 (-36.9%)	0.9%	$32.64	+136.6%	COM	750491102
CRDO	CREDO TECHNOLOGY GROUP HOLDINGS	295,387 (-15.5%)	$42,503 (-16.5%)	2.1%	$14.28	+976.6%	COM	G25457105
TVTX	TRAVERE THERAPEUTICS INC	948,459 (-21.0%)	$36,241 (+26.3%)	1.8%	$13.22	+146.0%	COM	89422G107
HIMS	HIMS & HERS HEALTH INC	147,460 (-19.6%)	$4,788 (-53.9%)	0.2%	$51.24	-16.4%	COM	433000106
ATEC	ALPHATEC HOLDINGS INC	910,053 (-4.8%)	$19,148 (+37.7%)	0.9%	$10.60	+74.6%	COM	02081G201
TENB	TENABLE HOLDING	93,572 (-62.2%)	$2,202 (-69.5%)	0.1%	$42.25	-35.3%	COM	88025T102
RARE	ULTRAGENYX PHARMACEUTICAL INC	120,505 (-50.4%)	$2,772 (-62.1%)	0.1%	$62.67	-47.5%	COM	90400D108
MMSI	MERIT MED SYS INC	105,651 (-36.3%)	$9,312 (-32.5%)	0.5%	$60.23	+41.3%	COM	589889104
COLL	COLLEGIUM PHARMACEUTICAL INC	391,670 (-1.0%)	$18,134 (+31.0%)	0.9%	$21.54	+94.2%	COM	19459J104
ITGR	INTEGER HOLDINGS CORP	25,512 (-58.0%)	$2,001 (-68.2%)	0.1%	$111.36	-28.4%	COM	45826H109
BE	BLOOM ENERGY CO	351,401 (-14.2%)	$30,533 (-11.8%)	1.5%	$31.37	+234.9%	COM	093712107
EYE	NATIONAL VISION HOLDINGS	937,540 (-3.0%)	$24,207 (-14.2%)	1.2%	$22.70	+18.5%	COM	63845R107
LITE	LUMENTUM HOLDINGS INC	86,925 (-59.7%)	$32,040 (-8.7%)	1.6%	$51.37	+400.0%	COM	55024U109
BOW	BOWHEAD SPECIALTY HOLDINGS	8,914 (-92.3%)	$254 (-91.9%)	0.0%	$25.56	+3.8%	COM	10240L102
BBIO	BRIDGEBIO PHARMA INC	316,784 (-23.0%)	$24,231 (+13.4%)	1.2%	$20.67	+217.5%	COM	10806X102
FOUR	SHIFT4 PAYMENTS INC	165,269 (-2.6%)	$10,407 (-20.8%)	0.5%	$54.78	+29.0%	COM	82452J109
TREE	LENDINGTREE INC	218,269 (-1.1%)	$11,588 (-18.9%)	0.6%	$41.19	—	COM	52603B107
TTMI	TTM TECHNOLOGIES INC	547,363 (-10.2%)	$37,768 (+7.6%)	1.8%	$21.08	+209.7%	COM	87305R109
KALV	KALVISTA PHARMACEUTICALS INC	855,461 (-6.8%)	$13,816 (+23.6%)	0.7%	$12.93	+2.4%	COM	483497103
ASIC	ATEGRITY SPECIALTY HOLDINGS	53,669 (-69.2%)	$1,128 (-67.2%)	0.1%	$22.88	-17.4%	COM	04681Y103
ALGT	ALLEGIANT TRAVEL CO	211,825 (-18.8%)	$18,062 (+13.9%)	0.9%	$67.46	+6.0%	COM	01748X102
FA	FIRST ADVANTAGE CORP	672,716 (-12.9%)	$9,775 (-17.8%)	0.5%	$15.94	-11.6%	COM	31846B108
UTZ	UTZ BRANDS INC	72,163 (-66.7%)	$749 (-71.6%)	0.0%	$16.48	-34.6%	COM	918090101
LTH	LIFETIME GROUP HOLDINGS INC	355,492 (-13.4%)	$9,449 (-16.6%)	0.5%	$29.38	-11.4%	COM	53190C102
EVER	EVERQUOTE INC	411,606 (-1.2%)	$11,113 (+16.6%)	0.5%	$23.14	+4.7%	COM	30041R108
MDGL	MADRIGAL PHARMACEUTICALS INC	24,996 (-28.8%)	$14,556 (-9.6%)	0.7%	$264.33	+93.2%	COM	558868105
TMDX	TRANSMEDICS GROUP INC	229,901 (-3.6%)	$27,967 (+4.5%)	1.4%	$60.10	+108.8%	COM	89377M109
QTWO	Q2 HOLDINGS INC	281,749 (-5.2%)	$20,331 (-5.5%)	1.0%	$39.98	+71.7%	COM	74736L109
FINW	FINWISE BANCORP	54,364 (-36.4%)	$975 (-41.1%)	0.0%	$13.23	+38.1%	COM	31813A109
ZVIA	ZEVIA PBC	800,124 (-13.4%)	$1,856 (-26.2%)	0.1%	$2.54	-2.3%	COM	98955K104
WSBC	WESBANCO INC	90,898 (-17.8%)	$3,021 (-14.4%)	0.1%	$32.96	-1.9%	COM	950810101
WTFC	WINTRUST FINANCIAL CORP	8,733 (-32.9%)	$1,221 (-29.2%)	0.1%	$90.27	+47.3%	COM	97650W108
NWFL	NORWOOD FINANCIAL CORP	25,000 (-43.4%)	$701 (-37.6%)	0.0%	$29.13	-6.4%	COM	669549107
AVGO	BROADCOM LTD	1,216 (-49.9%)	$421 (-47.4%)	0.0%	$156.66	+127.9%	COM	11135F101
WAL	WESTERN ALLIANCE BANCORP	14,347 (-20.0%)	$1,206 (-22.4%)	0.1%	$32.90	+145.1%	COM	957638109
KNSL	KINSALE CAPITAL GROUP INC	533 (-50.8%)	$208 (-54.8%)	0.0%	$19.59	+1981.5%	COM	49714P108
BUSE	FIRST BUSEY CORP	10,400 (-50.8%)	$247 (-49.4%)	0.0%	$24.20	-4.1%	COM	319383204
CBLL	CERIBELL INC	92,131 (-40.7%)	$2,020 (+13.2%)	0.1%	$20.84	-25.5%	COM	15678C102
UBSI	UNITED BANKSHARES INC	13,818 (-31.3%)	$531 (-29.1%)	0.0%	$35.38	+5.3%	COM	909907107
MCB	METROPOLITAN BANK HOLDING CO	29,370 (-5.5%)	$2,243 (-3.5%)	0.1%	$54.68	+35.1%	COM	591774104
NBN	NORTHEAST BANCORP	22,289 (-2.5%)	$2,316 (+1.2%)	0.1%	$38.47	+142.6%	COM	66405S100

Unchanged Positions (58)

LFSC RBB FD INC 3.6%

Value ($000) $73,121 Shares 1,997,035 Est. Cost $23.39 Unrealized —

VRNS VARONIS SYSTEMS INC 0.9%

Value ($000) $18,233 Shares 555,882 Est. Cost $42.52 Unrealized -1.3%

ATI ATI Inc 1.0%

Value ($000) $21,065 Shares 183,555 Est. Cost $40.32 Unrealized +141.7%

FN FABRINET 1.5%

Value ($000) $29,965 Shares 65,816 Est. Cost $211.14 Unrealized +106.0%

RMBS RAMBUS INC 1.8%

Value ($000) $35,949 Shares 391,215 Est. Cost $52.92 Unrealized +85.9%

IONQ IONQ INC 0.6%

Value ($000) $12,459 Shares 277,668 Est. Cost $38.52 Unrealized +45.5%

OLLI OLLIE'S BARGAIN OUTLET HOLDINGS 1.0%

Value ($000) $20,346 Shares 185,623 Est. Cost $81.43 Unrealized +48.1%

CRS CARPENTER TECHNOLOGY CORP 0.7%

Value ($000) $14,502 Shares 46,062 Est. Cost $34.25 Unrealized +777.5%

PLMR PALOMAR HOLDINGS INC 1.1%

Value ($000) $21,793 Shares 161,717 Est. Cost $54.17 Unrealized +125.3%

BJRI BJ'S RESTAURANT INC 0.6%

Value ($000) $12,749 Shares 323,573 Est. Cost $38.11 Unrealized -6.8%

TBBK THE BANCORP INC 1.2%

Value ($000) $23,875 Shares 353,602 Est. Cost $52.79 Unrealized +30.7%

AGYS AGILYSYS INC 1.2%

Value ($000) $24,464 Shares 205,857 Est. Cost $80.73 Unrealized +49.1%

COMP COMPASS INC 0.6%

Value ($000) $11,349 Shares 1,073,746 Est. Cost $7.95 Unrealized +14.8%

ONTO ONTO INNOVATION INC 0.6%

Value ($000) $11,900 Shares 75,385 Est. Cost $106.80 Unrealized +33.0%

MOD MODINE MANUFACTURING CO 1.5%

Value ($000) $31,432 Shares 235,425 Est. Cost $102.03 Unrealized +46.0%

STRL STERLING INFRASTRUCTURE INC 0.7%

Value ($000) $14,967 Shares 48,875 Est. Cost $207.41 Unrealized +66.1%

PDFS PDF SOLUTIONS INC 0.8%

Value ($000) $16,964 Shares 594,610 Est. Cost $29.61 Unrealized -6.5%

FIVE FIVE BELOW 0.4%

Value ($000) $8,984 Shares 47,695 Est. Cost $95.28 Unrealized +70.6%

VC VISTEON CORP 0.3%

Value ($000) $5,893 Shares 61,970 Est. Cost $117.24 Unrealized -9.8%

MRCY MERCURY SYSTEMS INC 1.2%

Value ($000) $24,536 Shares 336,058 Est. Cost $51.63 Unrealized +44.1%

SPXC SPX TECHNOLOGIES INC 0.9%

Value ($000) $18,620 Shares 93,074 Est. Cost $162.49 Unrealized —

SWIM LATHAM GROUP INC 0.2%

Value ($000) $4,080 Shares 642,554 Est. Cost $6.08 Unrealized +15.1%

HTFL HEARTFLOW INC 0.2%

Value ($000) $3,826 Shares 131,262 Est. Cost $32.24 Unrealized -0.1%

QBTS D-WAVE QUANTUM INC 0.5%

Value ($000) $9,378 Shares 358,640 Est. Cost $11.91 Unrealized +144.5%

AX AXOS FINANCIAL INC 1.4%

Value ($000) $29,403 Shares 341,262 Est. Cost $46.75 Unrealized +76.2%

TRIN TRINITY CAPITAL INC 0.4%

Value ($000) $8,047 Shares 549,260 Est. Cost $7.93 Unrealized +77.6%

PRCH PORCH GROUP INC 0.0%

Value ($000) $361 Shares 39,577 Est. Cost $3.21 Unrealized +275.2%

SKYT SKYWATER TECHNOLOGY INC 0.6%

Value ($000) $13,241 Shares 729,156 Est. Cost $16.28 Unrealized +6.7%

BMNR BITMINE IMMERSION TECHNOLOGIES 0.0%

Value ($000) $314 Shares 11,558 Est. Cost $50.65 Unrealized -20.0%

PGY PAGAYA TECHNOLOGIES 0.0%

Value ($000) $651 Shares 31,165 Est. Cost $32.30 Unrealized -21.1%

AII AMERICAN INTEGRITY INSURANCE GROUP 0.2%

Value ($000) $3,571 Shares 171,429 Est. Cost $16.87 Unrealized +31.8%

OSW ONESPAWORLD HOLDINGS LIMITED 0.6%

Value ($000) $12,445 Shares 600,025 Est. Cost $13.09 Unrealized +59.7%

COIN COINBASE GLOBAL INC 0.0%

Value ($000) $283 Shares 1,251 Est. Cost $274.13 Unrealized +8.7%

KLAR KLARNA GROUP 0.0%

Value ($000) $496 Shares 17,146 Est. Cost $42.59 Unrealized -19.4%

BLSH BULLISH 0.0%

Value ($000) $189 Shares 5,000 Est. Cost $61.33 Unrealized -20.6%

FIGR FIGURE TECHNOLOGY SOLUTIONS 0.1%

Value ($000) $1,138 Shares 27,860 Est. Cost $38.84 Unrealized +3.0%

CRCL CIRCLE INTERNET GROUP 0.0%

Value ($000) $181 Shares 2,282 Est. Cost $158.83 Unrealized -34.9%

MIR MIRION TECHNOLOGIES INC 0.8%

Value ($000) $16,499 Shares 704,496 Est. Cost $17.01 Unrealized +46.6%

QCRH QCR HOLDINGS INC 0.1%

Value ($000) $1,092 Shares 13,110 Est. Cost $49.03 Unrealized +60.4%

MCHB MECHANICS BANCORP 0.0%

Value ($000) $885 Shares 60,462 Est. Cost $11.87 Unrealized +17.1%

RELY REMITLY GLOBAL 0.0%

Value ($000) $389 Shares 28,159 Est. Cost $17.95 Unrealized -19.1%

FSBC FIVE STAR BANCORP 0.0%

Value ($000) $645 Shares 18,040 Est. Cost $25.35 Unrealized +35.7%

BSVN BANK7 CORP 0.0%

Value ($000) $428 Shares 10,435 Est. Cost $46.18 Unrealized -8.0%

DAVE DAVE INC 0.0%

Value ($000) $549 Shares 2,478 Est. Cost $215.95 Unrealized -0.4%

SHOP SHOPIFY INC 0.0%

Value ($000) $652 Shares 4,053 Est. Cost $116.22 Unrealized +38.2%

CASH PATHWARD FINANCIAL INC 0.1%

Value ($000) $1,177 Shares 16,572 Est. Cost $50.57 Unrealized +41.7%

OZK BANK OZK 0.0%

Value ($000) $453 Shares 9,842 Est. Cost $50.09 Unrealized -7.6%

EWBC EAST WEST BANCORP INC 0.0%

Value ($000) $710 Shares 6,314 Est. Cost $63.25 Unrealized +66.3%

MIAX MIAMI INTERNATIONAL 0.0%

Value ($000) $111 Shares 2,500 Est. Cost $36.58 Unrealized +21.9%

CCNE CNB FINL CORP PA 0.0%

Value ($000) $135 Shares 5,156 Est. Cost $22.11 Unrealized +14.2%

AFRM AFFIRM HOLDINGS INC 0.0%

Value ($000) $485 Shares 6,520 Est. Cost $76.10 Unrealized -5.4%

TWFG TWFG INC 0.0%

Value ($000) $141 Shares 4,900 Est. Cost $25.94 Unrealized +4.8%

PBAM PRIVATE BANCORP OF AMERICA INC 0.0%

Value ($000) $211 Shares 3,676 Est. Cost $35.32 Unrealized +62.2%

SOFI SOFI TECHNOLOGIES 0.0%

Value ($000) $586 Shares 22,392 Est. Cost $23.73 Unrealized +17.4%

ABCB AMERIS BANCORP 0.0%

Value ($000) $330 Shares 4,442 Est. Cost $59.18 Unrealized +25.4%

RKT ROCKET COMPANIES INC 0.1%

Value ($000) $1,046 Shares 54,049 Est. Cost $17.44 Unrealized +2.5%

TCBX THIRD COAST BANCSHARES INC 0.0%

Value ($000) $726 Shares 19,108 Est. Cost $15.51 Unrealized +146.6%

ESQ ESQUIRE FINANCIAL HOLDINGS 0.1%

Value ($000) $2,344 Shares 22,968 Est. Cost $51.52 Unrealized +96.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LFSC	RBB FD INC	1,997,035	$73,121	3.6%	$23.39	—	FM EMERALD LIFE	74933W221
VRNS	VARONIS SYSTEMS INC	555,882	$18,233	0.9%	$42.52	-1.3%	COM	922280102
ATI	ATI Inc	183,555	$21,065	1.0%	$40.32	+141.7%	COM	01741R102
FN	FABRINET	65,816	$29,965	1.5%	$211.14	+106.0%	COM	G3323L100
RMBS	RAMBUS INC	391,215	$35,949	1.8%	$52.92	+85.9%	COM	750917106
IONQ	IONQ INC	277,668	$12,459	0.6%	$38.52	+45.5%	COM	46222L108
OLLI	OLLIE'S BARGAIN OUTLET HOLDINGS	185,623	$20,346	1.0%	$81.43	+48.1%	COM	681116109
CRS	CARPENTER TECHNOLOGY CORP	46,062	$14,502	0.7%	$34.25	+777.5%	COM	144285103
PLMR	PALOMAR HOLDINGS INC	161,717	$21,793	1.1%	$54.17	+125.3%	COM	69753M105
BJRI	BJ'S RESTAURANT INC	323,573	$12,749	0.6%	$38.11	-6.8%	COM	09180C106
TBBK	THE BANCORP INC	353,602	$23,875	1.2%	$52.79	+30.7%	COM	05969A105
AGYS	AGILYSYS INC	205,857	$24,464	1.2%	$80.73	+49.1%	COM	00847J105
COMP	COMPASS INC	1,073,746	$11,349	0.6%	$7.95	+14.8%	COM	20464U100
ONTO	ONTO INNOVATION INC	75,385	$11,900	0.6%	$106.80	+33.0%	COM	683344105
MOD	MODINE MANUFACTURING CO	235,425	$31,432	1.5%	$102.03	+46.0%	COM	607828100
STRL	STERLING INFRASTRUCTURE INC	48,875	$14,967	0.7%	$207.41	+66.1%	COM	859241101
PDFS	PDF SOLUTIONS INC	594,610	$16,964	0.8%	$29.61	-6.5%	COM	693282105
FIVE	FIVE BELOW	47,695	$8,984	0.4%	$95.28	+70.6%	COM	33829M101
VC	VISTEON CORP	61,970	$5,893	0.3%	$117.24	-9.8%	COM	92839U206
MRCY	MERCURY SYSTEMS INC	336,058	$24,536	1.2%	$51.63	+44.1%	COM	589378108
SPXC	SPX TECHNOLOGIES INC	93,074	$18,620	0.9%	$162.49	—	COM	78473E103
SWIM	LATHAM GROUP INC	642,554	$4,080	0.2%	$6.08	+15.1%	COM	51819L107
HTFL	HEARTFLOW INC	131,262	$3,826	0.2%	$32.24	-0.1%	COM	42238D107
QBTS	D-WAVE QUANTUM INC	358,640	$9,378	0.5%	$11.91	+144.5%	COM	26740W109
AX	AXOS FINANCIAL INC	341,262	$29,403	1.4%	$46.75	+76.2%	COM	05465C100
TRIN	TRINITY CAPITAL INC	549,260	$8,047	0.4%	$7.93	+77.6%	COM	896442308
PRCH	PORCH GROUP INC	39,577	$361	0.0%	$3.21	+275.2%	COM	733245104
SKYT	SKYWATER TECHNOLOGY INC	729,156	$13,241	0.6%	$16.28	+6.7%	COM	83089J108
BMNR	BITMINE IMMERSION TECHNOLOGIES	11,558	$314	0.0%	$50.65	-20.0%	COM	09175A206
PGY	PAGAYA TECHNOLOGIES	31,165	$651	0.0%	$32.30	-21.1%	COM	M7S64L123
AII	AMERICAN INTEGRITY INSURANCE GROUP	171,429	$3,571	0.2%	$16.87	+31.8%	COM	026948109
OSW	ONESPAWORLD HOLDINGS LIMITED	600,025	$12,445	0.6%	$13.09	+59.7%	COM	P73684113
COIN	COINBASE GLOBAL INC	1,251	$283	0.0%	$274.13	+8.7%	COM	19260Q107
KLAR	KLARNA GROUP	17,146	$496	0.0%	$42.59	-19.4%	COM	G5279N105
BLSH	BULLISH	5,000	$189	0.0%	$61.33	-20.6%	COM	G16910120
FIGR	FIGURE TECHNOLOGY SOLUTIONS	27,860	$1,138	0.1%	$38.84	+3.0%	COM	349381103
CRCL	CIRCLE INTERNET GROUP	2,282	$181	0.0%	$158.83	-34.9%	COM	172573107
MIR	MIRION TECHNOLOGIES INC	704,496	$16,499	0.8%	$17.01	+46.6%	COM	60471A101
QCRH	QCR HOLDINGS INC	13,110	$1,092	0.1%	$49.03	+60.4%	COM	74727A104
MCHB	MECHANICS BANCORP	60,462	$885	0.0%	$11.87	+17.1%	COM	43785V102
RELY	REMITLY GLOBAL	28,159	$389	0.0%	$17.95	-19.1%	COM	75960P104
FSBC	FIVE STAR BANCORP	18,040	$645	0.0%	$25.35	+35.7%	COM	33830T103
BSVN	BANK7 CORP	10,435	$428	0.0%	$46.18	-8.0%	COM	06652N107
DAVE	DAVE INC	2,478	$549	0.0%	$215.95	-0.4%	COM	23834J201
SHOP	SHOPIFY INC	4,053	$652	0.0%	$116.22	+38.2%	COM	82509L107
CASH	PATHWARD FINANCIAL INC	16,572	$1,177	0.1%	$50.57	+41.7%	COM	59100U108
OZK	BANK OZK	9,842	$453	0.0%	$50.09	-7.6%	COM	06417N103
EWBC	EAST WEST BANCORP INC	6,314	$710	0.0%	$63.25	+66.3%	COM	27579R104
MIAX	MIAMI INTERNATIONAL	2,500	$111	0.0%	$36.58	+21.9%	COM	59356Q108
CCNE	CNB FINL CORP PA	5,156	$135	0.0%	$22.11	+14.2%	COM	126128107
AFRM	AFFIRM HOLDINGS INC	6,520	$485	0.0%	$76.10	-5.4%	COM	00827B106
TWFG	TWFG INC	4,900	$141	0.0%	$25.94	+4.8%	COM	87318A101
PBAM	PRIVATE BANCORP OF AMERICA INC	3,676	$211	0.0%	$35.32	+62.2%	COM	74274F100
SOFI	SOFI TECHNOLOGIES	22,392	$586	0.0%	$23.73	+17.4%	COM	83406F102
ABCB	AMERIS BANCORP	4,442	$330	0.0%	$59.18	+25.4%	COM	03076K108
RKT	ROCKET COMPANIES INC	54,049	$1,046	0.1%	$17.44	+2.5%	COM	77311W101
TCBX	THIRD COAST BANCSHARES INC	19,108	$726	0.0%	$15.51	+146.6%	COM	88422P109
ESQ	ESQUIRE FINANCIAL HOLDINGS	22,968	$2,344	0.1%	$51.52	+96.2%	COM	29667J101