Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SM	SM ENERGY COMPANY	95,806	$2.987M	2.9%	$19.89	0.0%	COM	78454L100
ITRI	ITRON INC	15,012	$1.346M	1.3%	$98.74	0.0%	COM	465741106
HQY	HEALTHEQUITY INC	15,540	$1.299M	1.2%	$83.16	0.0%	COM	42226A107
BIRK	BIRKENSTOCK HOLDING PLC	33,900	$1.215M	1.2%	$39.95	0.0%	COM SHS	M2029K104
INFU	INFUSYSTEM HLDGS INC	80,946	$747K	0.7%	$8.25	0.0%	COM	45685K102
TTI	TETRA TECHNOLOGIES INC DEL	16,253	$138K	0.1%	$11.03	0.0%	COM	88162F105

Increased Positions (18)

VMD VIEMED HEALTHCARE INC 1.8%

Value $1.876M (+45.1%) Shares 203,685 (+17.1%) Est. Cost $7.97 Unrealized -1.8%

CON CONCENTRA GROUP HOLDINGS PAR 2.8%

Value $2.92M (+24.9%) Shares 136,150 (+14.6%) Est. Cost $21.43 Unrealized +3.3%

AVY AVERY DENNISON CORP 2.1%

Value $2.184M (+35.2%) Shares 12,650 (+42.5%) Est. Cost $177.32 Unrealized +6.7%

EWBC EAST WEST BANCORP INC 2.4%

Value $2.457M (+27.6%) Shares 23,015 (+34.3%) Est. Cost $107.98 Unrealized +7.6%

SN SHARKNINJA INC 1.9%

Value $2.03M (+32.2%) Shares 19,170 (+39.7%) Est. Cost $105.42 Unrealized +16.4%

CACI CACI INTL INC 3.5%

Value $3.654M (+15.3%) Shares 6,718 (+12.9%) Est. Cost $431.41 Unrealized +39.8%

LNTH LANTHEUS HLDGS INC 2.3%

Value $2.433M (+23.1%) Shares 32,073 (+8.0%) Est. Cost $91.85 Unrealized -25.5%

HAE HAEMONETICS CORP MASS 2.0%

Value $2.087M (-17.0%) Shares 37,026 (+18.0%) Est. Cost $70.97 Unrealized -3.9%

LMB LIMBACH HLDGS INC 2.3%

Value $2.446M (+10.2%) Shares 31,337 (+9.9%) Est. Cost $85.26 Unrealized +1.1%

ACNT ASCENT INDUSTRIES CO 1.4%

Value $1.468M (-12.4%) Shares 110,264 (+6.5%) Est. Cost $12.91 Unrealized +29.7%

OPCH OPTION CARE HEALTH INC 2.0%

Value $2.064M (-8.6%) Shares 76,661 (+8.2%) Est. Cost $26.24 Unrealized +31.1%

SARO STANDARDAERO INC 2.4%

Value $2.519M (+7.8%) Shares 97,521 (+19.7%) Est. Cost $28.02 Unrealized +11.6%

RDNT RADNET INC 1.4%

Value $1.488M (+13.8%) Shares 26,632 (+45.3%) Est. Cost $63.46 Unrealized +12.7%

GVA GRANITE CONSTR INC 1.3%

Value $1.324M (+7.8%) Shares 11,044 (+3.8%) Est. Cost $91.40 Unrealized +37.4%

TIC TIC SOLUTIONS INC 0.8%

Value $868K (-5.7%) Shares 131,878 (+44.9%) Est. Cost $11.00 Unrealized -6.8%

CHEF CHEFS WHSE INC 1.5%

Value $1.535M (+3.4%) Shares 25,818 (+8.4%) Est. Cost $45.21 Unrealized +43.9%

SYNA SYNAPTICS INC 1.3%

Value $1.313M (+2.3%) Shares 18,752 (+8.1%) Est. Cost $74.34 Unrealized +15.0%

ROCK GIBRALTAR INDS INC 2.4%

Value $2.53M (-0.7%) Shares 63,467 (+23.2%) Est. Cost $62.19 Unrealized -15.6%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
VMD	VIEMED HEALTHCARE INC	203,685 (+17.1%)	$1.876M (+45.1%)	1.8%	$7.97	-1.8%	COM	92663R105
CON	CONCENTRA GROUP HOLDINGS PAR	136,150 (+14.6%)	$2.92M (+24.9%)	2.8%	$21.43	+3.3%	COMMON STOCK	20603L102
AVY	AVERY DENNISON CORP	12,650 (+42.5%)	$2.184M (+35.2%)	2.1%	$177.32	+6.7%	COM	053611109
EWBC	EAST WEST BANCORP INC	23,015 (+34.3%)	$2.457M (+27.6%)	2.4%	$107.98	+7.6%	COM	27579R104
SN	SHARKNINJA INC	19,170 (+39.7%)	$2.03M (+32.2%)	1.9%	$105.42	+16.4%	COM SHS	G8068L108
CACI	CACI INTL INC	6,718 (+12.9%)	$3.654M (+15.3%)	3.5%	$431.41	+39.8%	CL A	127190304
LNTH	LANTHEUS HLDGS INC	32,073 (+8.0%)	$2.433M (+23.1%)	2.3%	$91.85	-25.5%	COM	516544103
HAE	HAEMONETICS CORP MASS	37,026 (+18.0%)	$2.087M (-17.0%)	2.0%	$70.97	-3.9%	COM	405024100
LMB	LIMBACH HLDGS INC	31,337 (+9.9%)	$2.446M (+10.2%)	2.3%	$85.26	+1.1%	COM	53263P105
ACNT	ASCENT INDUSTRIES CO	110,264 (+6.5%)	$1.468M (-12.4%)	1.4%	$12.91	+29.7%	COM	871565107
OPCH	OPTION CARE HEALTH INC	76,661 (+8.2%)	$2.064M (-8.6%)	2.0%	$26.24	+31.1%	COM NEW	68404L201
SARO	STANDARDAERO INC	97,521 (+19.7%)	$2.519M (+7.8%)	2.4%	$28.02	+11.6%	COM	85423L103
RDNT	RADNET INC	26,632 (+45.3%)	$1.488M (+13.8%)	1.4%	$63.46	+12.7%	COM	750491102
GVA	GRANITE CONSTR INC	11,044 (+3.8%)	$1.324M (+7.8%)	1.3%	$91.40	+37.4%	COM	387328107
TIC	TIC SOLUTIONS INC	131,878 (+44.9%)	$868K (-5.7%)	0.8%	$11.00	-6.8%	COM	00510N102
CHEF	CHEFS WHSE INC	25,818 (+8.4%)	$1.535M (+3.4%)	1.5%	$45.21	+43.9%	COM	163086101
SYNA	SYNAPTICS INC	18,752 (+8.1%)	$1.313M (+2.3%)	1.3%	$74.34	+15.0%	COM	87157D109
ROCK	GIBRALTAR INDS INC	63,467 (+23.2%)	$2.53M (-0.7%)	2.4%	$62.19	-15.6%	COM	374689107

Exited Positions (5)

THG HANOVER INS GROUP INC 1.7%

Value $1.774M Shares 9,704 Est. Cost $151.15 Unrealized +14.9%

HAS HASBRO INC 1.5%

Value $1.598M Shares 19,490 Est. Cost $62.34 Unrealized +48.7%

CIVI CIVITAS RESOURCES INC 1.4%

Value $1.492M Shares 55,080 Est. Cost $42.67 Unrealized -37.1%

NOG NORTHERN OIL & GAS INC 1.3%

Value $1.306M Shares 60,830 Est. Cost $39.19 Unrealized -38.0%

CTLP CANTALOUPE INC 1.2%

Value $1.25M Shares 117,739 Est. Cost $8.83 Unrealized +20.1%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
THG	HANOVER INS GROUP INC	9,704	$1.774M	1.7%	$151.15	+14.9%	—	410867105
HAS	HASBRO INC	19,490	$1.598M	1.5%	$62.34	+48.7%	—	418056107
CIVI	CIVITAS RESOURCES INC	55,080	$1.492M	1.4%	$42.67	-37.1%	—	17888H103
NOG	NORTHERN OIL & GAS INC	60,830	$1.306M	1.3%	$39.19	-38.0%	—	665531307
CTLP	CANTALOUPE INC	117,739	$1.25M	1.2%	$8.83	+20.1%	—	138103106

Decreased Positions (10)

BELFB BEL FUSE INC 2.1%

Value $2.19M (-30.4%) Shares 11,061 (-40.3%) Est. Cost $80.56 Unrealized +161.1%

MOD MODINE MFG CO 2.7%

Value $2.859M (+37.5%) Shares 13,192 (-15.3%) Est. Cost $123.71 Unrealized +42.7%

LAKE LAKELAND INDS INC 0.8%

Value $874K (-40.5%) Shares 106,698 (-35.7%) Est. Cost $19.01 Unrealized -50.6%

CECO CECO ENVIRONMENTAL CORP 2.2%

Value $2.292M (-20.0%) Shares 38,473 (-19.7%) Est. Cost $28.45 Unrealized +141.8%

ATI ATI INC 3.6%

Value $3.774M (+15.8%) Shares 25,945 (-8.7%) Est. Cost $88.59 Unrealized +48.6%

MKSI MKS INC. 4.1%

Value $4.248M (+10.7%) Shares 18,485 (-23.0%) Est. Cost $105.36 Unrealized +113.7%

VSEC VSE CORP 2.4%

Value $2.511M (-12.5%) Shares 13,617 (-18.0%) Est. Cost $104.96 Unrealized +98.1%

OSK OSHKOSH CORP 3.3%

Value $3.419M (+8.6%) Shares 23,225 (-7.3%) Est. Cost $102.34 Unrealized +54.4%

MAMA MAMAS CREATIONS INC 2.6%

Value $2.667M (+3.5%) Shares 173,834 (-9.0%) Est. Cost $7.81 Unrealized +89.9%

FLS FLOWSERVE CORP 3.4%

Value $3.535M (-1.9%) Shares 48,094 (-7.4%) Est. Cost $56.16 Unrealized +43.7%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BELFB	BEL FUSE INC	11,061 (-40.3%)	$2.19M (-30.4%)	2.1%	$80.56	+161.1%	CL B	077347300
MOD	MODINE MFG CO	13,192 (-15.3%)	$2.859M (+37.5%)	2.7%	$123.71	+42.7%	COM	607828100
LAKE	LAKELAND INDS INC	106,698 (-35.7%)	$874K (-40.5%)	0.8%	$19.01	-50.6%	COM	511795106
CECO	CECO ENVIRONMENTAL CORP	38,473 (-19.7%)	$2.292M (-20.0%)	2.2%	$28.45	+141.8%	COM	125141101
ATI	ATI INC	25,945 (-8.7%)	$3.774M (+15.8%)	3.6%	$88.59	+48.6%	COM	01741R102
MKSI	MKS INC.	18,485 (-23.0%)	$4.248M (+10.7%)	4.1%	$105.36	+113.7%	COM	55306N104
VSEC	VSE CORP	13,617 (-18.0%)	$2.511M (-12.5%)	2.4%	$104.96	+98.1%	COM	918284100
OSK	OSHKOSH CORP	23,225 (-7.3%)	$3.419M (+8.6%)	3.3%	$102.34	+54.4%	COM	688239201
MAMA	MAMAS CREATIONS INC	173,834 (-9.0%)	$2.667M (+3.5%)	2.6%	$7.81	+89.9%	COM	56146T103
FLS	FLOWSERVE CORP	48,094 (-7.4%)	$3.535M (-1.9%)	3.4%	$56.16	+43.7%	COM	34354P105

Unchanged Positions (14)

VYX NCR VOYIX CORPORATION 1.0%

Value $1.048M Shares 165,509 Est. Cost $13.88 Unrealized -28.2%

BRKR BRUKER CORP 1.9%

Value $2.027M Shares 56,130 Est. Cost $54.23 Unrealized -16.3%

TTMI TTM TECHNOLOGIES INC 1.8%

Value $1.905M Shares 19,550 Est. Cost $22.65 Unrealized +312.4%

NOMD NOMAD FOODS LTD 1.3%

Value $1.361M Shares 141,590 Est. Cost $17.63 Unrealized -29.9%

CUZ COUSINS PPTYS INC 2.7%

Value $2.784M Shares 123,351 Est. Cost $30.47 Unrealized —

COO COOPER COS INC 2.4%

Value $2.475M Shares 34,620 Est. Cost $74.33 Unrealized +10.5%

CMC COMMERCIAL METALS CO 2.3%

Value $2.427M Shares 39,510 Est. Cost $56.23 Unrealized +36.8%

FHN FIRST HORIZON CORPORATION 3.7%

Value $3.89M Shares 170,926 Est. Cost $18.79 Unrealized +31.5%

CNM CORE & MAIN INC 2.2%

Value $2.314M Shares 46,850 Est. Cost $47.53 Unrealized +18.3%

BV BRIGHTVIEW HLDGS INC 1.1%

Value $1.185M Shares 100,482 Est. Cost $16.41 Unrealized -18.7%

COLB COLUMBIA BKG SYS INC 3.8%

Value $3.924M Shares 143,065 Est. Cost $26.70 Unrealized +12.2%

EPAC ENERPAC TOOL GROUP CORP 1.0%

Value $1.072M Shares 29,398 Est. Cost $45.73 Unrealized -10.0%

LYTS LSI INDS INC OHIO 2.6%

Value $2.671M Shares 143,604 Est. Cost $18.40 Unrealized +15.5%

LW LAMB WESTON HLDGS INC 1.7%

Value $1.815M Shares 42,940 Est. Cost $72.60 Unrealized -37.1%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
VYX	NCR VOYIX CORPORATION	165,509	$1.048M	1.0%	$13.88	-28.2%	COM	62886E108
BRKR	BRUKER CORP	56,130	$2.027M	1.9%	$54.23	-16.3%	COM	116794108
TTMI	TTM TECHNOLOGIES INC	19,550	$1.905M	1.8%	$22.65	+312.4%	COM	87305R109
NOMD	NOMAD FOODS LTD	141,590	$1.361M	1.3%	$17.63	-29.9%	USD ORD SHS	G6564A105
CUZ	COUSINS PPTYS INC	123,351	$2.784M	2.7%	$30.47	—	COM NEW	222795502
COO	COOPER COS INC	34,620	$2.475M	2.4%	$74.33	+10.5%	COM	216648501
CMC	COMMERCIAL METALS CO	39,510	$2.427M	2.3%	$56.23	+36.8%	COM	201723103
FHN	FIRST HORIZON CORPORATION	170,926	$3.89M	3.7%	$18.79	+31.5%	COM	320517105
CNM	CORE & MAIN INC	46,850	$2.314M	2.2%	$47.53	+18.3%	CL A	21874C102
BV	BRIGHTVIEW HLDGS INC	100,482	$1.185M	1.1%	$16.41	-18.7%	COM	10948C107
COLB	COLUMBIA BKG SYS INC	143,065	$3.924M	3.8%	$26.70	+12.2%	COM	197236102
EPAC	ENERPAC TOOL GROUP CORP	29,398	$1.072M	1.0%	$45.73	-10.0%	CL A COM	292765104
LYTS	LSI INDS INC OHIO	143,604	$2.671M	2.6%	$18.40	+15.5%	COM	50216C108
LW	LAMB WESTON HLDGS INC	42,940	$1.815M	1.7%	$72.60	-37.1%	COM	513272104