Herald Investment Management Ltd Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
DOCN	DigitalOcean Holdings Inc	202,000	$9,708	1.3%	$44.03	0.0%	COM	25402D102
PLUS	ePlus Inc	75,000	$6,558	0.9%	$82.50	0.0%	COM	294268107
VIAV	Viavi Solutions Inc	275,000	$4,901	0.6%	$16.15	0.0%	COM	925550105
BRZE	Braze Inc	125,000	$4,286	0.6%	$29.63	0.0%	COM	10576N102
POWL	Powell Industries Inc	10,000	$3,185	0.4%	$336.55	0.0%	COM	739128106
CSGS	CSG Systems International Inc	41,240	$3,159	0.4%	$73.52	0.0%	COM	126349109
ALNT	Allient Inc	40,000	$2,140	0.3%	$52.29	0.0%	COM	019330109

Increased Positions (27)

VRNS Varonis Systems Inc 2.1%

Value ($000) $15,854 (-37.8%) Shares 483,500 (+9.0%) Est. Cost $42.68 Unrealized -1.6%

ELVA Electrovaya Inc 1.5%

Value ($000) $11,333 (+52.1%) Shares 1,440,000 (+13.8%) Est. Cost $3.09 Unrealized +95.7%

POWI Power Integrations Inc 0.7%

Value ($000) $5,330 (+249.1%) Shares 150,000 (+294.7%) Est. Cost $39.41 Unrealized -4.2%

ARLO Arlo Technologies Inc 2.4%

Value ($000) $18,285 (-15.5%) Shares 1,307,000 (+2.3%) Est. Cost $7.22 Unrealized +117.9%

VPG Vishay Precision Group Inc 1.0%

Value ($000) $7,317 (+52.5%) Shares 190,000 (+26.7%) Est. Cost $31.04 Unrealized +14.0%

NOVT Novanta Inc 0.5%

Value ($000) $4,164 (+66.4%) Shares 35,000 (+40.0%) Est. Cost $117.57 Unrealized -3.1%

ALKT Alkami Technology Inc 1.5%

Value ($000) $11,540 (+16.1%) Shares 500,000 (+25.0%) Est. Cost $21.77 Unrealized +1.4%

DGII Digi International Inc 0.7%

Value ($000) $5,195 (+42.5%) Shares 120,000 (+20.0%) Est. Cost $32.97 Unrealized +21.5%

AVPT AvePoint Inc 1.5%

Value ($000) $11,807 (+12.4%) Shares 850,000 (+21.4%) Est. Cost $7.89 Unrealized +75.0%

PDFS PDF Solutions Inc 0.8%

Value ($000) $6,419 (+24.3%) Shares 225,000 (+12.5%) Est. Cost $27.86 Unrealized -0.7%

AMZN Amazon.com Inc 1.5%

Value ($000) $11,403 (+11.9%) Shares 49,400 (+6.5%) Est. Cost $132.67 Unrealized +72.5%

PATH UiPath Inc 0.4%

Value ($000) $3,311 (+53.4%) Shares 202,280 (+25.4%) Est. Cost $17.95 Unrealized -13.3%

CLMB Climb Global Solutions Inc 1.0%

Value ($000) $7,709 (+14.4%) Shares 75,000 (+50.0%) Est. Cost $76.95 Unrealized +50.8%

OUST Ouster Inc 0.6%

Value ($000) $4,326 (-15.7%) Shares 200,000 (+5.3%) Est. Cost $10.69 Unrealized +147.0%

HSTM HealthStream Inc 0.6%

Value ($000) $4,610 (-14.1%) Shares 200,000 (+5.3%) Est. Cost $26.79 Unrealized -6.1%

SMWB SimilarWeb Ltd 0.6%

Value ($000) $4,854 (-13.0%) Shares 645,465 (+7.6%) Est. Cost $9.78 Unrealized -17.6%

CTS CTS Corp 0.6%

Value ($000) $4,714 (+18.0%) Shares 110,000 (+10.0%) Est. Cost $41.42 Unrealized +1.1%

CEVA Ceva Inc 1.5%

Value ($000) $11,196 (-5.8%) Shares 520,000 (+15.6%) Est. Cost $21.48 Unrealized +14.3%

MPTI M-Tron Industries Inc 0.5%

Value ($000) $3,556 (+17.2%) Shares 67,000 (+21.8%) Est. Cost $47.65 Unrealized +10.9%

SPSC SPS Commerce Inc 0.8%

Value ($000) $6,239 (+9.0%) Shares 70,000 (+27.3%) Est. Cost $58.02 Unrealized +59.8%

FIVN Five9 Inc 0.9%

Value ($000) $7,254 (+6.3%) Shares 362,000 (+28.4%) Est. Cost $29.44 Unrealized -27.9%

FA First Advantage Corp 0.8%

Value ($000) $5,804 (+3.3%) Shares 400,000 (+9.6%) Est. Cost $13.94 Unrealized +1.1%

CINT CI&T Inc 0.3%

Value ($000) $2,442 (+5.4%) Shares 600,000 (+33.3%) Est. Cost $5.52 Unrealized -17.6%

KD Kyndryl Holdings Inc 0.3%

Value ($000) $2,125 (+5.6%) Shares 80,000 (+19.4%) Est. Cost $22.22 Unrealized +22.1%

MSFT Microsoft Corp 1.6%

Value ($000) $12,477 (-0.9%) Shares 25,800 (+6.2%) Est. Cost $113.57 Unrealized +340.8%

RMNI Rimini Street Inc 0.5%

Value ($000) $3,870 (-2.7%) Shares 1,000,000 (+17.6%) Est. Cost $5.24 Unrealized -20.7%

RDCM RADCOM Ltd 0.6%

Value ($000) $4,215 (-1.3%) Shares 325,000 (+8.3%) Est. Cost $15.14 Unrealized -11.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VRNS	Varonis Systems Inc	483,500 (+9.0%)	$15,854 (-37.8%)	2.1%	$42.68	-1.6%	COM	922280102
ELVA	Electrovaya Inc	1,440,000 (+13.8%)	$11,333 (+52.1%)	1.5%	$3.09	+95.7%	COM	28617B606
POWI	Power Integrations Inc	150,000 (+294.7%)	$5,330 (+249.1%)	0.7%	$39.41	-4.2%	COM	739276103
ARLO	Arlo Technologies Inc	1,307,000 (+2.3%)	$18,285 (-15.5%)	2.4%	$7.22	+117.9%	COM	04206A101
VPG	Vishay Precision Group Inc	190,000 (+26.7%)	$7,317 (+52.5%)	1.0%	$31.04	+14.0%	COM	92835K103
NOVT	Novanta Inc	35,000 (+40.0%)	$4,164 (+66.4%)	0.5%	$117.57	-3.1%	COM	67000B104
ALKT	Alkami Technology Inc	500,000 (+25.0%)	$11,540 (+16.1%)	1.5%	$21.77	+1.4%	COM	01644J108
DGII	Digi International Inc	120,000 (+20.0%)	$5,195 (+42.5%)	0.7%	$32.97	+21.5%	COM	253798102
AVPT	AvePoint Inc	850,000 (+21.4%)	$11,807 (+12.4%)	1.5%	$7.89	+75.0%	COM	053604104
PDFS	PDF Solutions Inc	225,000 (+12.5%)	$6,419 (+24.3%)	0.8%	$27.86	-0.7%	COM	693282105
AMZN	Amazon.com Inc	49,400 (+6.5%)	$11,403 (+11.9%)	1.5%	$132.67	+72.5%	COM	023135106
PATH	UiPath Inc	202,280 (+25.4%)	$3,311 (+53.4%)	0.4%	$17.95	-13.3%	COM	90364P105
CLMB	Climb Global Solutions Inc	75,000 (+50.0%)	$7,709 (+14.4%)	1.0%	$76.95	+50.8%	COM	946760105
OUST	Ouster Inc	200,000 (+5.3%)	$4,326 (-15.7%)	0.6%	$10.69	+147.0%	COM	68989M202
HSTM	HealthStream Inc	200,000 (+5.3%)	$4,610 (-14.1%)	0.6%	$26.79	-6.1%	COM	42222N103
SMWB	SimilarWeb Ltd	645,465 (+7.6%)	$4,854 (-13.0%)	0.6%	$9.78	-17.6%	COM	M84137104
CTS	CTS Corp	110,000 (+10.0%)	$4,714 (+18.0%)	0.6%	$41.42	+1.1%	COM	126501105
CEVA	Ceva Inc	520,000 (+15.6%)	$11,196 (-5.8%)	1.5%	$21.48	+14.3%	COM	157210105
MPTI	M-Tron Industries Inc	67,000 (+21.8%)	$3,556 (+17.2%)	0.5%	$47.65	+10.9%	COM	55380K109
SPSC	SPS Commerce Inc	70,000 (+27.3%)	$6,239 (+9.0%)	0.8%	$58.02	+59.8%	COM	78463M107
FIVN	Five9 Inc	362,000 (+28.4%)	$7,254 (+6.3%)	0.9%	$29.44	-27.9%	COM	338307101
FA	First Advantage Corp	400,000 (+9.6%)	$5,804 (+3.3%)	0.8%	$13.94	+1.1%	COM	31846B108
CINT	CI&T Inc	600,000 (+33.3%)	$2,442 (+5.4%)	0.3%	$5.52	-17.6%	COM	G21307106
KD	Kyndryl Holdings Inc	80,000 (+19.4%)	$2,125 (+5.6%)	0.3%	$22.22	+22.1%	COM	50155Q100
MSFT	Microsoft Corp	25,800 (+6.2%)	$12,477 (-0.9%)	1.6%	$113.57	+340.8%	COM	594918104
RMNI	Rimini Street Inc	1,000,000 (+17.6%)	$3,870 (-2.7%)	0.5%	$5.24	-20.7%	COM	76674Q107
RDCM	RADCOM Ltd	325,000 (+8.3%)	$4,215 (-1.3%)	0.6%	$15.14	-11.6%	COM	M81865111

Exited Positions (4)

— AvidXchange Holdings Inc 0.6%

Value ($000) $4,975 Shares 500,000 Est. Cost $9.97 Unrealized —

INUV Inuvo Inc 0.3%

Value ($000) $2,014 Shares 573,773 Est. Cost $3.91 Unrealized -26.2%

LTRX Lantronix Inc 0.2%

Value ($000) $1,824 Shares 400,000 Est. Cost $2.59 Unrealized +101.1%

ACCS Access Newswire Inc 0.1%

Value ($000) $956 Shares 90,000 Est. Cost $17.24 Unrealized -46.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	AvidXchange Holdings Inc	500,000	$4,975	0.6%	$9.97	—	—	05368X102
INUV	Inuvo Inc	573,773	$2,014	0.3%	$3.91	-26.2%	—	46122W303
LTRX	Lantronix Inc	400,000	$1,824	0.2%	$2.59	+101.1%	—	516548203
ACCS	Access Newswire Inc	90,000	$956	0.1%	$17.24	-46.9%	—	46520M204

Decreased Positions (19)

CLS Celestica Inc 8.9%

Value ($000) $67,872 (-17.7%) Shares 229,500 (-31.5%) Est. Cost $37.96 Unrealized +693.9%

VICR Vicor Corp 3.5%

Value ($000) $26,850 (+116.4%) Shares 245,000 (-2.0%) Est. Cost $49.29 Unrealized +72.5%

SMCI Super Micro Computer Inc 2.7%

Value ($000) $20,753 (-39.8%) Shares 709,500 (-1.4%) Est. Cost $39.15 Unrealized +5.2%

TSEM Tower Semiconductor Ltd 2.8%

Value ($000) $21,096 (+47.4%) Shares 180,000 (-9.1%) Est. Cost $27.56 Unrealized +249.5%

FN Fabrinet 6.4%

Value ($000) $48,940 (-7.9%) Shares 107,600 (-26.1%) Est. Cost $24.15 Unrealized +1701.2%

MU Micron Technology Inc 1.2%

Value ($000) $9,558 (+58.7%) Shares 33,500 (-6.9%) Est. Cost $26.07 Unrealized +779.7%

FROG JFrog Ltd 1.9%

Value ($000) $14,341 (+21.3%) Shares 230,000 (-8.0%) Est. Cost $26.10 Unrealized +117.9%

TGEN Tecogen Inc/Waltham MA 0.3%

Value ($000) $2,083 (-46.6%) Shares 420,000 (-5.8%) Est. Cost $5.13 Unrealized +46.3%

FORM FormFactor Inc 0.8%

Value ($000) $6,037 (+40.1%) Shares 108,300 (-8.5%) Est. Cost $36.00 Unrealized +40.0%

GOOGL Alphabet Inc 1.8%

Value ($000) $13,801 (+13.1%) Shares 44,100 (-12.2%) Est. Cost $111.46 Unrealized +156.2%

IDN Intellicheck Inc 0.8%

Value ($000) $6,488 (+25.7%) Shares 975,569 (-2.4%) Est. Cost $2.65 Unrealized +112.6%

RBBN Ribbon Communications Inc 0.3%

Value ($000) $2,304 (-33.6%) Shares 800,000 (-12.4%) Est. Cost $4.06 Unrealized -20.6%

ANET Arista Networks Inc 0.3%

Value ($000) $2,449 (-25.9%) Shares 18,700 (-17.6%) Est. Cost $102.84 Unrealized +33.9%

LASR nLight Inc 1.1%

Value ($000) $8,056 (+8.8%) Shares 215,000 (-14.0%) Est. Cost $14.79 Unrealized +125.9%

AMD Advanced Micro Devices Inc 0.6%

Value ($000) $4,437 (-11.3%) Shares 20,720 (-33.0%) Est. Cost $69.44 Unrealized +223.4%

KLIC Kulicke & Soffa Industries Inc 1.6%

Value ($000) $12,568 (+4.4%) Shares 276,100 (-6.8%) Est. Cost $35.02 Unrealized +20.2%

KOPN Kopin Corp 0.6%

Value ($000) $4,427 (-8.9%) Shares 1,900,000 (-5.0%) Est. Cost $1.18 Unrealized +145.2%

TER Teradyne Inc 0.4%

Value ($000) $3,210 (+13.2%) Shares 16,600 (-19.4%) Est. Cost $26.84 Unrealized +539.0%

GNSS Genasys Inc 0.2%

Value ($000) $1,498 (-17.8%) Shares 700,000 (-6.7%) Est. Cost $2.98 Unrealized -24.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CLS	Celestica Inc	229,500 (-31.5%)	$67,872 (-17.7%)	8.9%	$37.96	+693.9%	COM	15101Q207
VICR	Vicor Corp	245,000 (-2.0%)	$26,850 (+116.4%)	3.5%	$49.29	+72.5%	COM	925815102
SMCI	Super Micro Computer Inc	709,500 (-1.4%)	$20,753 (-39.8%)	2.7%	$39.15	+5.2%	COM	86800U302
TSEM	Tower Semiconductor Ltd	180,000 (-9.1%)	$21,096 (+47.4%)	2.8%	$27.56	+249.5%	COM	M87915274
FN	Fabrinet	107,600 (-26.1%)	$48,940 (-7.9%)	6.4%	$24.15	+1701.2%	COM	G3323L100
MU	Micron Technology Inc	33,500 (-6.9%)	$9,558 (+58.7%)	1.2%	$26.07	+779.7%	COM	595112103
FROG	JFrog Ltd	230,000 (-8.0%)	$14,341 (+21.3%)	1.9%	$26.10	+117.9%	COM	M6191J100
TGEN	Tecogen Inc/Waltham MA	420,000 (-5.8%)	$2,083 (-46.6%)	0.3%	$5.13	+46.3%	COM	87876P201
FORM	FormFactor Inc	108,300 (-8.5%)	$6,037 (+40.1%)	0.8%	$36.00	+40.0%	COM	346375108
GOOGL	Alphabet Inc	44,100 (-12.2%)	$13,801 (+13.1%)	1.8%	$111.46	+156.2%	COM	02079K305
IDN	Intellicheck Inc	975,569 (-2.4%)	$6,488 (+25.7%)	0.8%	$2.65	+112.6%	COM	45817G201
RBBN	Ribbon Communications Inc	800,000 (-12.4%)	$2,304 (-33.6%)	0.3%	$4.06	-20.6%	COM	762544104
ANET	Arista Networks Inc	18,700 (-17.6%)	$2,449 (-25.9%)	0.3%	$102.84	+33.9%	COM	040413205
LASR	nLight Inc	215,000 (-14.0%)	$8,056 (+8.8%)	1.1%	$14.79	+125.9%	COM	65487K100
AMD	Advanced Micro Devices Inc	20,720 (-33.0%)	$4,437 (-11.3%)	0.6%	$69.44	+223.4%	COM	007903107
KLIC	Kulicke & Soffa Industries Inc	276,100 (-6.8%)	$12,568 (+4.4%)	1.6%	$35.02	+20.2%	COM	501242101
KOPN	Kopin Corp	1,900,000 (-5.0%)	$4,427 (-8.9%)	0.6%	$1.18	+145.2%	COM	500600101
TER	Teradyne Inc	16,600 (-19.4%)	$3,210 (+13.2%)	0.4%	$26.84	+539.0%	COM	880770102
GNSS	Genasys Inc	700,000 (-6.7%)	$1,498 (-17.8%)	0.2%	$2.98	-24.7%	COM	36872P103

Unchanged Positions (44)

CCOI Cogent Communications Holdings Inc 0.7%

Value ($000) $5,230 Shares 242,600 Est. Cost $49.59 Unrealized -40.5%

DRS Leonardo DRS Inc 1.3%

Value ($000) $9,713 Shares 285,000 Est. Cost $10.65 Unrealized +245.8%

AIP Arteris Inc 0.8%

Value ($000) $6,192 Shares 400,000 Est. Cost $6.49 Unrealized +123.2%

RDWR RADWARE Ltd 2.1%

Value ($000) $16,254 Shares 675,000 Est. Cost $15.48 Unrealized +57.8%

PEGA Pegasystems Inc 5.5%

Value ($000) $41,998 Shares 703,600 Est. Cost $28.28 Unrealized +107.1%

SPIR Spire Global Inc 0.4%

Value ($000) $2,885 Shares 386,249 Est. Cost $10.20 Unrealized -4.1%

DSGX Descartes Systems Group Inc/The 2.1%

Value ($000) $16,213 Shares 185,000 Est. Cost $10.34 Unrealized +764.5%

VERX Vertex Inc 0.5%

Value ($000) $3,994 Shares 200,000 Est. Cost $23.67 Unrealized -8.6%

RDVT Red Violet Inc 1.5%

Value ($000) $11,384 Shares 200,000 Est. Cost $18.18 Unrealized +198.3%

BELFB Bel Fuse Inc 0.7%

Value ($000) $5,080 Shares 30,000 Est. Cost $80.43 Unrealized +94.2%

APPS Digital Turbine Inc 0.4%

Value ($000) $2,994 Shares 600,000 Est. Cost $5.02 Unrealized +12.8%

SIMO Silicon Motion Technology Corp 4.7%

Value ($000) $35,642 Shares 384,906 Est. Cost $15.64 Unrealized —

SLP Simulations Plus Inc 0.5%

Value ($000) $3,642 Shares 200,000 Est. Cost $14.54 Unrealized +20.6%

CMRC Commerce.com Inc 0.4%

Value ($000) $2,877 Shares 700,000 Est. Cost $7.00 Unrealized -34.2%

OSPN Onespan Inc 0.3%

Value ($000) $2,568 Shares 200,000 Est. Cost $17.45 Unrealized -22.7%

MLAB Mesa Laboratories Inc 0.5%

Value ($000) $3,916 Shares 50,000 Est. Cost $85.62 Unrealized -11.3%

— Freightos Ltd 0.1%

Value ($000) $1,140 Shares 500,000 Est. Cost $3.04 Unrealized —

FC Franklin Covey Co 0.4%

Value ($000) $2,933 Shares 175,000 Est. Cost $39.22 Unrealized -57.3%

SILC Silicom Ltd 0.2%

Value ($000) $1,805 Shares 125,000 Est. Cost $35.56 Unrealized -56.1%

VECO Veeco Instruments Inc 0.7%

Value ($000) $5,710 Shares 200,000 Est. Cost $32.01 Unrealized -7.4%

FORR Forrester Research Inc 0.2%

Value ($000) $1,217 Shares 150,000 Est. Cost $12.72 Unrealized -38.3%

VLN Valens Semiconductor Ltd 0.2%

Value ($000) $1,340 Shares 950,000 Est. Cost $3.03 Unrealized -45.7%

AAPL Apple Inc 0.7%

Value ($000) $5,546 Shares 20,400 Est. Cost $86.00 Unrealized +212.0%

BELFA Bel Fuse Inc 0.1%

Value ($000) $1,133 Shares 7,500 Est. Cost $90.58 Unrealized +48.0%

BAND Bandwidth Inc 0.4%

Value ($000) $3,245 Shares 210,000 Est. Cost $45.37 Unrealized -66.6%

DT Dynatrace Inc 0.3%

Value ($000) $2,167 Shares 50,000 Est. Cost $49.95 Unrealized -6.7%

HIMX Himax Technologies Inc 0.4%

Value ($000) $3,276 Shares 400,000 Est. Cost $7.97 Unrealized —

AVNW Aviat Networks Inc 0.4%

Value ($000) $3,314 Shares 155,000 Est. Cost $31.03 Unrealized -28.1%

HLIT Harmonic Inc 1.0%

Value ($000) $7,764 Shares 785,000 Est. Cost $8.00 Unrealized +25.9%

AWRE Aware Inc/MA 0.1%

Value ($000) $796 Shares 430,000 Est. Cost $1.57 Unrealized +43.9%

— Check Point Software Technologies Ltd 0.2%

Value ($000) $1,705 Shares 9,200 Est. Cost $49.69 Unrealized —

ARW Arrow Electronics Inc 0.2%

Value ($000) $1,675 Shares 15,200 Est. Cost $97.09 Unrealized +17.0%

ADTN ADTRAN Holdings Inc 0.2%

Value ($000) $1,738 Shares 200,000 Est. Cost $18.04 Unrealized -51.9%

NABL N-Able Inc 0.4%

Value ($000) $3,085 Shares 413,000 Est. Cost $13.48 Unrealized -43.4%

ZM Zoom Communications Inc 0.3%

Value ($000) $2,236 Shares 25,910 Est. Cost $115.44 Unrealized -27.1%

FRSH Freshworks Inc 0.3%

Value ($000) $2,328 Shares 190,000 Est. Cost $15.87 Unrealized -25.6%

OOMA Ooma Inc 0.4%

Value ($000) $3,045 Shares 260,000 Est. Cost $12.80 Unrealized -10.9%

INTC Intel Corp 0.1%

Value ($000) $701 Shares 19,000 Est. Cost $17.18 Unrealized +119.8%

QUIK QuickLogic Corp 0.6%

Value ($000) $4,360 Shares 730,379 Est. Cost $7.55 Unrealized -14.2%

TXN Texas Instruments Inc 0.1%

Value ($000) $711 Shares 4,100 Est. Cost $157.28 Unrealized +8.5%

QLYS Qualys Inc 1.1%

Value ($000) $8,631 Shares 65,000 Est. Cost $43.70 Unrealized +214.8%

MRAM Everspin Technologies Inc 1.0%

Value ($000) $7,392 Shares 800,000 Est. Cost $7.20 Unrealized +32.0%

SLAB Silicon Laboratories Inc 0.5%

Value ($000) $3,590 Shares 27,500 Est. Cost $136.18 Unrealized -3.5%

WK Workiva Inc 0.6%

Value ($000) $4,318 Shares 50,000 Est. Cost $75.12 Unrealized +17.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CCOI	Cogent Communications Holdings Inc	242,600	$5,230	0.7%	$49.59	-40.5%	COM	19239V302
DRS	Leonardo DRS Inc	285,000	$9,713	1.3%	$10.65	+245.8%	COM	52661A108
AIP	Arteris Inc	400,000	$6,192	0.8%	$6.49	+123.2%	COM	04302A104
RDWR	RADWARE Ltd	675,000	$16,254	2.1%	$15.48	+57.8%	COM	M81873107
PEGA	Pegasystems Inc	703,600	$41,998	5.5%	$28.28	+107.1%	COM	705573103
SPIR	Spire Global Inc	386,249	$2,885	0.4%	$10.20	-4.1%	COM	848560306
DSGX	Descartes Systems Group Inc/The	185,000	$16,213	2.1%	$10.34	+764.5%	COM	249906108
VERX	Vertex Inc	200,000	$3,994	0.5%	$23.67	-8.6%	COM	92538J106
RDVT	Red Violet Inc	200,000	$11,384	1.5%	$18.18	+198.3%	COM	75704L104
BELFB	Bel Fuse Inc	30,000	$5,080	0.7%	$80.43	+94.2%	COM	077347300
APPS	Digital Turbine Inc	600,000	$2,994	0.4%	$5.02	+12.8%	COM	25400W102
SIMO	Silicon Motion Technology Corp	384,906	$35,642	4.7%	$15.64	—	ADR	82706C108
SLP	Simulations Plus Inc	200,000	$3,642	0.5%	$14.54	+20.6%	COM	829214105
CMRC	Commerce.com Inc	700,000	$2,877	0.4%	$7.00	-34.2%	COM	08975P108
OSPN	Onespan Inc	200,000	$2,568	0.3%	$17.45	-22.7%	COM	68287N100
MLAB	Mesa Laboratories Inc	50,000	$3,916	0.5%	$85.62	-11.3%	COM	59064R109
—	Freightos Ltd	500,000	$1,140	0.1%	$3.04	—	COM	514051013
FC	Franklin Covey Co	175,000	$2,933	0.4%	$39.22	-57.3%	COM	353469109
SILC	Silicom Ltd	125,000	$1,805	0.2%	$35.56	-56.1%	COM	M84116108
VECO	Veeco Instruments Inc	200,000	$5,710	0.7%	$32.01	-7.4%	COM	922417100
FORR	Forrester Research Inc	150,000	$1,217	0.2%	$12.72	-38.3%	COM	346563109
VLN	Valens Semiconductor Ltd	950,000	$1,340	0.2%	$3.03	-45.7%	COM	M9607U115
AAPL	Apple Inc	20,400	$5,546	0.7%	$86.00	+212.0%	COM	037833100
BELFA	Bel Fuse Inc	7,500	$1,133	0.1%	$90.58	+48.0%	COM	077347201
BAND	Bandwidth Inc	210,000	$3,245	0.4%	$45.37	-66.6%	COM	05988J103
DT	Dynatrace Inc	50,000	$2,167	0.3%	$49.95	-6.7%	COM	268150109
HIMX	Himax Technologies Inc	400,000	$3,276	0.4%	$7.97	—	ADR	43289P106
AVNW	Aviat Networks Inc	155,000	$3,314	0.4%	$31.03	-28.1%	COM	05366Y201
HLIT	Harmonic Inc	785,000	$7,764	1.0%	$8.00	+25.9%	COM	413160102
AWRE	Aware Inc/MA	430,000	$796	0.1%	$1.57	+43.9%	COM	05453N100
—	Check Point Software Technologies Ltd	9,200	$1,705	0.2%	$49.69	—	COM	162825103
ARW	Arrow Electronics Inc	15,200	$1,675	0.2%	$97.09	+17.0%	COM	042735100
ADTN	ADTRAN Holdings Inc	200,000	$1,738	0.2%	$18.04	-51.9%	COM	00486H105
NABL	N-Able Inc	413,000	$3,085	0.4%	$13.48	-43.4%	COM	62878D100
ZM	Zoom Communications Inc	25,910	$2,236	0.3%	$115.44	-27.1%	COM	98980L101
FRSH	Freshworks Inc	190,000	$2,328	0.3%	$15.87	-25.6%	COM	358054104
OOMA	Ooma Inc	260,000	$3,045	0.4%	$12.80	-10.9%	COM	683416101
INTC	Intel Corp	19,000	$701	0.1%	$17.18	+119.8%	COM	458140100
QUIK	QuickLogic Corp	730,379	$4,360	0.6%	$7.55	-14.2%	COM	74837P405
TXN	Texas Instruments Inc	4,100	$711	0.1%	$157.28	+8.5%	COM	882508104
QLYS	Qualys Inc	65,000	$8,631	1.1%	$43.70	+214.8%	COM	74758T303
MRAM	Everspin Technologies Inc	800,000	$7,392	1.0%	$7.20	+32.0%	COM	30041T104
SLAB	Silicon Laboratories Inc	27,500	$3,590	0.5%	$136.18	-3.5%	COM	826919102
WK	Workiva Inc	50,000	$4,318	0.6%	$75.12	+17.9%	COM	98139A105