Meros Investment Management, LP Concentrated Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BBW	BUILD-A-BEAR WORKSHOP INC	146,956	$9,004	3.6%	$54.26	0.0%	COM	120076104
SCVL	SHOE CARNIVAL INC	415,110	$7,007	2.8%	$18.36	0.0%	COM	824889109
KRUS	KURA SUSHI USA INC	126,256	$6,607	2.6%	$54.54	0.0%	CL A COM	501270102
SLP	SIMULATIONS PLUS INC	339,242	$6,184	2.5%	$17.54	0.0%	COM	829214105
WEAV	WEAVE COMMUNICATIONS INC	571,883	$4,341	1.7%	$6.64	0.0%	COM	94724R108
BVS	BIOVENTUS INC	315,160	$2,345	0.9%	$7.19	0.0%	COM CL A	09075A108
WERN	WERNER ENTERPRISES INC	73,571	$2,208	0.9%	$27.47	0.0%	COM	950755108
OWLT	OWLET INC	80,405	$1,302	0.5%	$11.34	0.0%	CL A NEW	69120X206
SNCY	SUN CTRY AIRLS HLDGS INC	79,844	$1,149	0.5%	$12.78	0.0%	COM	866683105
TWIN	TWIN DISC INC	54,607	$911	0.4%	$15.44	0.0%	COM	901476101

Increased Positions (26)

ARHS ARHAUS INC 3.7%

Value ($000) $9,212 (+80.5%) Shares 821,734 (+71.1%) Est. Cost $9.59 Unrealized +8.3%

NVRI ENVIRI CORP 4.6%

Value ($000) $11,534 (+42.6%) Shares 643,649 (+1.0%) Est. Cost $8.94 Unrealized +66.8%

AMPL AMPLITUDE 4.0%

Value ($000) $9,981 (+21.7%) Shares 861,874 (+12.6%) Est. Cost $11.55 Unrealized -8.9%

AIV APARTMENT INVT & MGMT CO 2.3%

Value ($000) $5,914 (-21.8%) Shares 995,681 (+4.3%) Est. Cost $8.14 Unrealized —

COHU COHU INC 3.3%

Value ($000) $8,278 (+23.8%) Shares 355,744 (+8.1%) Est. Cost $23.22 Unrealized -1.3%

MLAB MESA LABS INC 2.6%

Value ($000) $6,674 (+30.2%) Shares 85,017 (+11.2%) Est. Cost $87.97 Unrealized -13.6%

AZTA AZENTA INC 2.2%

Value ($000) $5,549 (+20.8%) Shares 166,845 (+4.3%) Est. Cost $31.07 Unrealized +5.2%

JBI JANUS INTERNATIONAL GROUP INC 0.8%

Value ($000) $2,108 (-30.9%) Shares 322,271 (+4.3%) Est. Cost $8.66 Unrealized -10.1%

MASS 908 DEVICES INC 0.7%

Value ($000) $1,822 (+99.4%) Shares 347,035 (+232.7%) Est. Cost $6.67 Unrealized +4.8%

CYRX CRYOPORT INC 2.4%

Value ($000) $6,014 (+15.4%) Shares 626,427 (+13.9%) Est. Cost $8.54 Unrealized +10.6%

BXC BLUELINX HLDGS INC 2.0%

Value ($000) $5,054 (-12.3%) Shares 82,266 (+4.3%) Est. Cost $94.07 Unrealized -31.4%

AEBI AEBI SCHMIDT HLDG AG 0.7%

Value ($000) $1,788 (+59.3%) Shares 141,322 (+57.0%) Est. Cost $11.58 Unrealized +2.8%

INDI INDIE SEMICONDUCTOR INC 3.0%

Value ($000) $7,459 (-8.1%) Shares 2,112,972 (+5.9%) Est. Cost $5.01 Unrealized -12.6%

DCO DUCOMMUN INC DEL 6.6%

Value ($000) $16,599 (+3.7%) Shares 174,485 (+4.8%) Est. Cost $49.86 Unrealized +86.8%

PHR PHRESSIA INC 3.2%

Value ($000) $8,092 (+6.8%) Shares 478,274 (+48.5%) Est. Cost $24.59 Unrealized -16.1%

INFU INFUSYSTEM HLDGS INC 1.8%

Value ($000) $4,467 (-9.7%) Shares 497,989 (+4.3%) Est. Cost $10.91 Unrealized -12.3%

INMD INMODE LTD 2.4%

Value ($000) $5,941 (+8.5%) Shares 404,453 (+10.0%) Est. Cost $16.12 Unrealized -8.7%

HBIO HARVARD BIOSCIENCE INC 0.3%

Value ($000) $814 (+102.2%) Shares 1,217,628 (+32.6%) Est. Cost $3.28 Unrealized -81.9%

RCMT RCM TECHNOLOGIES INC 0.5%

Value ($000) $1,348 (+30.1%) Shares 65,951 (+69.0%) Est. Cost $23.94 Unrealized -10.4%

VSCO VICTORIAS SECRET AND CO 0.2%

Value ($000) $519 (+108.0%) Shares 9,579 (+4.2%) Est. Cost $21.72 Unrealized +82.9%

WTTR SELECT WATER SOLUTIONS INC 3.9%

Value ($000) $9,887 (+2.7%) Shares 939,857 (+4.4%) Est. Cost $6.11 Unrealized —

MDXG MIMEDX INDS INC TENN 3.6%

Value ($000) $8,977 (+1.2%) Shares 1,326,037 (+4.4%) Est. Cost $7.60 Unrealized -7.8%

MBUU MALIBU BOATS INC 1.8%

Value ($000) $4,454 (+1.6%) Shares 157,875 (+16.9%) Est. Cost $34.23 Unrealized -15.3%

TILE INTERFACE INC 1.9%

Value ($000) $4,852 (+0.7%) Shares 173,790 (+4.3%) Est. Cost $14.16 Unrealized +92.6%

MGNI MAGNITE INC 5.3%

Value ($000) $13,399 (+0.2%) Shares 825,595 (+34.5%) Est. Cost $13.62 Unrealized +21.9%

PACK RANPAK HOLDINGS CORP 2.4%

Value ($000) $6,040 (+0.3%) Shares 1,116,398 (+4.2%) Est. Cost $5.08 Unrealized +3.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ARHS	ARHAUS INC	821,734 (+71.1%)	$9,212 (+80.5%)	3.7%	$9.59	+8.3%	COM CL A	04035M102
NVRI	ENVIRI CORP	643,649 (+1.0%)	$11,534 (+42.6%)	4.6%	$8.94	+66.8%	COM	415864107
AMPL	AMPLITUDE	861,874 (+12.6%)	$9,981 (+21.7%)	4.0%	$11.55	-8.9%	COM CL A	03213A104
AIV	APARTMENT INVT & MGMT CO	995,681 (+4.3%)	$5,914 (-21.8%)	2.3%	$8.14	—	CL A	03748R747
COHU	COHU INC	355,744 (+8.1%)	$8,278 (+23.8%)	3.3%	$23.22	-1.3%	COM	192576106
MLAB	MESA LABS INC	85,017 (+11.2%)	$6,674 (+30.2%)	2.6%	$87.97	-13.6%	COM	59064R109
AZTA	AZENTA INC	166,845 (+4.3%)	$5,549 (+20.8%)	2.2%	$31.07	+5.2%	COM	114340102
JBI	JANUS INTERNATIONAL GROUP INC	322,271 (+4.3%)	$2,108 (-30.9%)	0.8%	$8.66	-10.1%	COMMON STOCK	47103N106
MASS	908 DEVICES INC	347,035 (+232.7%)	$1,822 (+99.4%)	0.7%	$6.67	+4.8%	COM	65443P102
CYRX	CRYOPORT INC	626,427 (+13.9%)	$6,014 (+15.4%)	2.4%	$8.54	+10.6%	COM PAR $0.001	229050307
BXC	BLUELINX HLDGS INC	82,266 (+4.3%)	$5,054 (-12.3%)	2.0%	$94.07	-31.4%	COM NEW	09624H208
AEBI	AEBI SCHMIDT HLDG AG	141,322 (+57.0%)	$1,788 (+59.3%)	0.7%	$11.58	+2.8%	COM	H00501108
INDI	INDIE SEMICONDUCTOR INC	2,112,972 (+5.9%)	$7,459 (-8.1%)	3.0%	$5.01	-12.6%	CLASS A COM	45569U101
DCO	DUCOMMUN INC DEL	174,485 (+4.8%)	$16,599 (+3.7%)	6.6%	$49.86	+86.8%	COM	264147109
PHR	PHRESSIA INC	478,274 (+48.5%)	$8,092 (+6.8%)	3.2%	$24.59	-16.1%	COM	71944F106
INFU	INFUSYSTEM HLDGS INC	497,989 (+4.3%)	$4,467 (-9.7%)	1.8%	$10.91	-12.3%	COM	45685K102
INMD	INMODE LTD	404,453 (+10.0%)	$5,941 (+8.5%)	2.4%	$16.12	-8.7%	SHS	M5425M103
HBIO	HARVARD BIOSCIENCE INC	1,217,628 (+32.6%)	$814 (+102.2%)	0.3%	$3.28	-81.9%	COM	416906105
RCMT	RCM TECHNOLOGIES INC	65,951 (+69.0%)	$1,348 (+30.1%)	0.5%	$23.94	-10.4%	COM NEW	749360400
VSCO	VICTORIAS SECRET AND CO	9,579 (+4.2%)	$519 (+108.0%)	0.2%	$21.72	+82.9%	COMMON STOCK	926400102
WTTR	SELECT WATER SOLUTIONS INC	939,857 (+4.4%)	$9,887 (+2.7%)	3.9%	$6.11	—	CL A COM	81617J301
MDXG	MIMEDX INDS INC TENN	1,326,037 (+4.4%)	$8,977 (+1.2%)	3.6%	$7.60	-7.8%	COM	602496101
MBUU	MALIBU BOATS INC	157,875 (+16.9%)	$4,454 (+1.6%)	1.8%	$34.23	-15.3%	COM CL A	56117J100
TILE	INTERFACE INC	173,790 (+4.3%)	$4,852 (+0.7%)	1.9%	$14.16	+92.6%	COM	458665304
MGNI	MAGNITE INC	825,595 (+34.5%)	$13,399 (+0.2%)	5.3%	$13.62	+21.9%	COM	55955D100
PACK	RANPAK HOLDINGS CORP	1,116,398 (+4.2%)	$6,040 (+0.3%)	2.4%	$5.08	+3.6%	COM CL A	75321W103

Exited Positions (5)

PLYM PLYMOUTH INDL REIT INC 5.8%

Value ($000) $14,628 Shares 655,075 Est. Cost $16.87 Unrealized —

TEAD TEADS HOLDINGS INC 0.9%

Value ($000) $2,206 Shares 1,336,889 Est. Cost $5.87 Unrealized -82.0%

KRNT KORNIT DIGITAL LTD 0.5%

Value ($000) $1,148 Shares 85,004 Est. Cost $17.65 Unrealized -22.4%

ASLE AERSALE CORPORATION 0.4%

Value ($000) $925 Shares 112,907 Est. Cost $7.76 Unrealized -9.6%

CVEO CIVEO CORP CDA 0.3%

Value ($000) $687 Shares 29,888 Est. Cost $24.79 Unrealized -10.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PLYM	PLYMOUTH INDL REIT INC	655,075	$14,628	5.8%	$16.87	—	—	729640102
TEAD	TEADS HOLDINGS INC	1,336,889	$2,206	0.9%	$5.87	-82.0%	—	69002R103
KRNT	KORNIT DIGITAL LTD	85,004	$1,148	0.5%	$17.65	-22.4%	—	M6372Q113
ASLE	AERSALE CORPORATION	112,907	$925	0.4%	$7.76	-9.6%	—	00810F106
CVEO	CIVEO CORP CDA	29,888	$687	0.3%	$24.79	-10.5%	—	17878Y207

Decreased Positions (12)

PLAB PHOTRONICS INC 1.4%

Value ($000) $3,456 (-70.2%) Shares 108,004 (-78.6%) Est. Cost $16.94 Unrealized +52.3%

SEI SOLARIS OILFIELD INFRASTRUCT 3.0%

Value ($000) $7,554 (-35.2%) Shares 164,324 (-43.7%) Est. Cost $12.59 Unrealized +283.5%

EMBC EMBECTA CORP 1.1%

Value ($000) $2,747 (-59.8%) Shares 231,244 (-52.3%) Est. Cost $13.59 Unrealized -3.9%

THR THERMON GROUP HLDGS INC 5.0%

Value ($000) $12,622 (+34.2%) Shares 339,675 (-3.5%) Est. Cost $28.04 Unrealized +17.1%

ICHR ICHOR HOLDINGS 0.6%

Value ($000) $1,397 (-63.3%) Shares 75,807 (-65.1%) Est. Cost $30.49 Unrealized -39.2%

WNC WABASH NATL CORP 1.9%

Value ($000) $4,875 (-23.5%) Shares 563,619 (-12.7%) Est. Cost $15.99 Unrealized -45.9%

KRMD KORU MEDICAL SYSTEMS INC 1.8%

Value ($000) $4,546 (+39.8%) Shares 782,386 (-7.8%) Est. Cost $2.73 Unrealized +75.2%

HURC HURCO CO 1.3%

Value ($000) $3,363 (-18.3%) Shares 217,688 (-8.0%) Est. Cost $26.47 Unrealized -37.4%

DAVE DAVE INC 0.3%

Value ($000) $812 (-39.8%) Shares 3,667 (-45.8%) Est. Cost $93.71 Unrealized +129.5%

NTIC NORTHERN TECHNOLOGIES INTL C 0.7%

Value ($000) $1,663 (-24.3%) Shares 212,373 (-25.5%) Est. Cost $13.62 Unrealized -43.7%

BLFS BIOLIFE SOLUTIONS INC 0.3%

Value ($000) $688 (-42.1%) Shares 28,454 (-39.0%) Est. Cost $19.84 Unrealized +31.9%

SRTS SENSUS HEALTHCARE INC 0.2%

Value ($000) $624 (+14.2%) Shares 156,739 (-9.9%) Est. Cost $4.94 Unrealized -24.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PLAB	PHOTRONICS INC	108,004 (-78.6%)	$3,456 (-70.2%)	1.4%	$16.94	+52.3%	COM	719405102
SEI	SOLARIS OILFIELD INFRASTRUCT	164,324 (-43.7%)	$7,554 (-35.2%)	3.0%	$12.59	+283.5%	COM CL A	83418M103
EMBC	EMBECTA CORP	231,244 (-52.3%)	$2,747 (-59.8%)	1.1%	$13.59	-3.9%	COMMON STOCK	29082K105
THR	THERMON GROUP HLDGS INC	339,675 (-3.5%)	$12,622 (+34.2%)	5.0%	$28.04	+17.1%	COM	88362T103
ICHR	ICHOR HOLDINGS	75,807 (-65.1%)	$1,397 (-63.3%)	0.6%	$30.49	-39.2%	SHS	G4740B105
WNC	WABASH NATL CORP	563,619 (-12.7%)	$4,875 (-23.5%)	1.9%	$15.99	-45.9%	COM	929566107
KRMD	KORU MEDICAL SYSTEMS INC	782,386 (-7.8%)	$4,546 (+39.8%)	1.8%	$2.73	+75.2%	COM	759910102
HURC	HURCO CO	217,688 (-8.0%)	$3,363 (-18.3%)	1.3%	$26.47	-37.4%	COM	447324104
DAVE	DAVE INC	3,667 (-45.8%)	$812 (-39.8%)	0.3%	$93.71	+129.5%	CLASS A COM NEW	23834J201
NTIC	NORTHERN TECHNOLOGIES INTL C	212,373 (-25.5%)	$1,663 (-24.3%)	0.7%	$13.62	-43.7%	COM	665809109
BLFS	BIOLIFE SOLUTIONS INC	28,454 (-39.0%)	$688 (-42.1%)	0.3%	$19.84	+31.9%	COM NEW	09062W204
SRTS	SENSUS HEALTHCARE INC	156,739 (-9.9%)	$624 (+14.2%)	0.2%	$4.94	-24.9%	COM	81728J109