Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SGOV	ISHARES TR	34,610 (+65.6%)	$3.485M (+65.6%)	2.6%	$100.68	$100.53	+0.2%	0-3 MTH TREASURY	46436E718
CATO	CATO CORP NEW	826,666 (+6.1%)	$1.976M (-21.7%)	1.5%	$2.39	$4.33	-44.8%	CL A	149205106
ASLE	AERSALE CORPORATION	828,626 (+36.4%)	$4.342M (+13.1%)	3.2%	$5.24	$5.99	-12.5%	COM	00810F106
PCYO	PURE CYCLE CORP	220,956 (+18.3%)	$2.439M (+22.0%)	1.8%	$11.04	$10.94	+0.9%	COM NEW	746228303
OM	OUTSET MED INC	337,090 (+1.5%)	$1.011M (-29.5%)	0.8%	$3.00	$4.37	-31.3%	COM NEW	690145206
INGN	INOGEN INC	268,144 (+2.0%)	$1.413M (-16.6%)	1.1%	$5.27	$6.17	-14.5%	COM	45780L104
VIRC	VIRCO MFG CO	96,751 (+54.8%)	$631K (+64.4%)	0.5%	$6.52	$6.09	+7.0%	COM	927651109
LAKE	LAKELAND INDS INC	210,819 (+1.5%)	$2.083M (-6.2%)	1.6%	$9.88	$11.08	-10.9%	COM	511795106

Exited Positions (4)

ALOT ASTRONOVA INC 2.8%

Value $3.788M Shares 133,065 Share Price $28.47 Est. Cost/Share $13.59 Unrealized @ Report Date +113.3%

ALTO ALTO INGREDIENTS INC 1.1%

Value $1.501M Shares 263,383 Share Price $5.70 * Est. Cost/Share $1.43 Unrealized @ Report Date +158.9%

DCGO DOCGO INC 1.0%

Value $1.29M Shares 2,500,118 Share Price $0.52 * Est. Cost/Share $0.67 Unrealized @ Report Date -40.1%

ZNTL ZENTALIS PHARMACEUTICALS INC 0.7%

Value $984K Shares 202,864 Share Price $4.85 * Est. Cost/Share $2.15 Unrealized @ Report Date +28.9%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
ALOT	ASTRONOVA INC	133,065	$3.788M	2.8%	$28.47	$13.59	+113.3%	—	04638F108
ALTO	ALTO INGREDIENTS INC	263,383	$1.501M	1.1%	$5.70 *	$1.43	+158.9%	—	021513106
DCGO	DOCGO INC	2,500,118	$1.29M	1.0%	$0.52 *	$0.67	-40.1%	—	256086109
ZNTL	ZENTALIS PHARMACEUTICALS INC	202,864	$984K	0.7%	$4.85 *	$2.15	+28.9%	—	98943L107

Decreased Positions (49)

CVGI COMMERCIAL VEH GROUP INC 0.6%

Value $802K (-60.6%) Shares 273,553 (-37.9%) Share Price $2.93 Est. Cost/Share $1.68 Unrealized @ Report Date +74.5%

HOFT HOOKER FURNISHINGS CORPORATI 1.8%

Value $2.39M (-31.3%) Shares 184,151 (-5.7%) Share Price $12.98 Est. Cost/Share $13.12 Unrealized @ Report Date -1.1%

MEI METHODE ELECTRS INC 1.4%

Value $1.857M (-32.2%) Shares 134,637 (-6.7%) Share Price $13.79 Est. Cost/Share $7.39 Unrealized @ Report Date +86.6%

KVHI KVH INDS INC 1.2%

Value $1.641M (-33.7%) Shares 233,406 (-6.6%) Share Price $7.03 Est. Cost/Share $5.19 Unrealized @ Report Date +35.5%

UFI UNIFI INC 2.7%

Value $3.596M (+30.1%) Shares 550,713 (-5.4%) Share Price $6.53 Est. Cost/Share $5.53 Unrealized @ Report Date +18.0%

OSUR ORASURE TECHNOLOGIES INC 2.7%

Value $3.64M (-17.9%) Shares 928,592 (-6.6%) Share Price $3.92 Est. Cost/Share $3.39 Unrealized @ Report Date +15.7%

TBI TRUEBLUE INC 3.7%

Value $4.931M (+17.7%) Shares 535,937 (-10.8%) Share Price $9.20 Est. Cost/Share $5.33 Unrealized @ Report Date +72.5%

LMNR LIMONEIRA CO 2.8%

Value $3.8M (-15.1%) Shares 319,344 (-6.3%) Share Price $11.90 Est. Cost/Share $14.34 Unrealized @ Report Date -17.0%

HURC HURCO CO 4.0%

Value $5.414M (-10.7%) Shares 250,425 (-5.4%) Share Price $21.62 Est. Cost/Share $20.04 Unrealized @ Report Date +7.9%

ALCO ALICO INC 3.1%

Value $4.214M (-13.3%) Shares 109,218 (-7.0%) Share Price $38.58 Est. Cost/Share $25.98 Unrealized @ Report Date +48.5%

ACTG ACACIA RESH CORP 3.0%

Value $4M (-13.7%) Shares 928,177 (-6.7%) Share Price $4.31 Est. Cost/Share $3.99 Unrealized @ Report Date +8.1%

CLW CLEARWATER PAPER CORP 3.8%

Value $5.154M (+13.4%) Shares 268,996 (-7.2%) Share Price $19.16 Est. Cost/Share $20.51 Unrealized @ Report Date -6.6%

SEG SEAPORT ENTMT GROUP INC 1.7%

Value $2.338M (-20.0%) Shares 102,140 (-7.0%) Share Price $22.89 Est. Cost/Share $21.29 Unrealized @ Report Date +7.5%

FTEK FUEL TECH INC 0.9%

Value $1.239M (-31.7%) Shares 765,119 (-6.8%) Share Price $1.62 Est. Cost/Share $1.27 Unrealized @ Report Date +27.4%

GAIA GAIA INC NEW 0.6%

Value $792K (-41.1%) Shares 600,130 (-6.3%) Share Price $1.32 Est. Cost/Share $5.42 Unrealized @ Report Date -75.6%

ARQ ARQ INC 1.1%

Value $1.462M (-27.2%) Shares 740,306 (-6.0%) Share Price $1.97 Est. Cost/Share $3.68 Unrealized @ Report Date -46.2%

KELYA KELLY SVCS INC 2.2%

Value $2.906M (+23.0%) Shares 179,285 (-6.8%) Share Price $16.21 Est. Cost/Share $9.64 Unrealized @ Report Date +68.2%

TUSK MAMMOTH ENERGY SVCS INC 1.6%

Value $2.156M (-17.9%) Shares 758,985 (-6.0%) Share Price $2.84 Est. Cost/Share $2.44 Unrealized @ Report Date +16.3%

BCYC BICYCLE THERAPEUTICS PLC 1.4%

Value $1.846M (-19.1%) Shares 501,708 (-6.7%) Share Price $3.68 Est. Cost/Share $4.84 Unrealized @ Report Date -24.0%

STHO STAR HLDGS 2.5%

Value $3.355M (-10.9%) Shares 391,489 (-5.1%) Share Price $8.57 Est. Cost/Share $9.27 Unrealized @ Report Date -7.6%

RGP RESOURCES CONNECTION INC 1.4%

Value $1.883M (-17.5%) Shares 500,763 (-6.7%) Share Price $3.76 Est. Cost/Share $4.55 Unrealized @ Report Date -17.3%

MXCT MAXCYTE INC 1.7%

Value $2.218M (-15.2%) Shares 1,980,392 (-6.8%) Share Price $1.12 Est. Cost/Share $0.96 Unrealized @ Report Date +17.0%

CLDT CHATHAM LODGING TR 4.2%

Value $5.676M (-6.2%) Shares 424,198 (-7.2%) Share Price $13.38 Est. Cost/Share $7.38 Unrealized @ Report Date —

JOUT JOHNSON OUTDOORS INC 2.0%

Value $2.723M (-11.4%) Shares 62,385 (-6.5%) Share Price $43.65 Est. Cost/Share $32.04 Unrealized @ Report Date +36.3%

LAB STANDARD BIOTOOLS INC 1.2%

Value $1.665M (-16.1%) Shares 2,248,249 (-6.8%) Share Price $0.74 Est. Cost/Share $1.17 Unrealized @ Report Date -36.7%

VRA VERA BRADLEY INC 2.2%

Value $2.954M (+10.9%) Shares 639,373 (-6.6%) Share Price $4.62 Est. Cost/Share $3.93 Unrealized @ Report Date +17.4%

SGA SAGA COMMUNICATIONS INC 1.2%

Value $1.62M (-14.9%) Shares 196,587 (-6.3%) Share Price $8.24 Est. Cost/Share $12.55 Unrealized @ Report Date -34.3%

NTIC NORTHERN TECHNOLOGIES INTL C 1.0%

Value $1.277M (-15.3%) Shares 164,122 (-6.8%) Share Price $7.78 Est. Cost/Share $7.73 Unrealized @ Report Date +0.6%

SEER SEER INC 0.7%

Value $940K (+27.1%) Shares 421,484 (-5.4%) Share Price $2.23 Est. Cost/Share $2.19 Unrealized @ Report Date +2.0%

NKTX NKARTA INC 1.0%

Value $1.358M (-12.7%) Shares 518,406 (-5.7%) Share Price $2.62 Est. Cost/Share $2.03 Unrealized @ Report Date +29.1%

INVE INVE TECHNOLOGIES INC 1.0%

Value $1.291M (-12.8%) Shares 546,881 (-6.9%) Share Price $2.36 Est. Cost/Share $3.70 Unrealized @ Report Date -36.2%

PLRX PLIANT THERAPEUTICS INC 1.0%

Value $1.312M (-12.1%) Shares 1,214,538 (-7.2%) Share Price $1.08 Est. Cost/Share $3.22 Unrealized @ Report Date -66.5%

AXR AMREP CORP 0.7%

Value $999K (-15.3%) Shares 44,373 (-5.1%) Share Price $22.52 Est. Cost/Share $32.07 Unrealized @ Report Date -29.8%

ENGN ENGENE THERAPEUTICS INC 1.5%

Value $2.077M (+8.9%) Shares 1,038,617 (-5.8%) Share Price $2.00 Est. Cost/Share $1.73 Unrealized @ Report Date —

MYPS PLAYSTUDIOS INC 1.0%

Value $1.332M (-11.1%) Shares 2,805,253 (-6.6%) Share Price $0.47 * Est. Cost/Share $0.05 Unrealized @ Report Date -1.3%

BSET BASSETT FURNITURE INDS INC 1.5%

Value $2.043M (-6.9%) Shares 116,954 (-5.6%) Share Price $17.47 Est. Cost/Share $14.84 Unrealized @ Report Date +17.7%

WHG WESTWOOD HLDGS GROUP INC 1.0%

Value $1.4M (-8.8%) Shares 75,133 (-6.2%) Share Price $18.63 Est. Cost/Share $15.40 Unrealized @ Report Date +21.0%

SENEA SENECA FOODS CORP NEW 2.6%

Value $3.457M (-3.8%) Shares 19,419 (-6.0%) Share Price $178.00 Est. Cost/Share $70.55 Unrealized @ Report Date +152.3%

IPI INTREPID POTASH INC 1.0%

Value $1.393M (-7.9%) Shares 43,435 (-5.9%) Share Price $32.08 Est. Cost/Share $25.18 Unrealized @ Report Date +27.4%

HYNE HOYNE BANCORP INC 1.1%

Value $1.534M (-6.7%) Shares 92,436 (-5.9%) Share Price $16.60 Est. Cost/Share $14.04 Unrealized @ Report Date +18.2%

MGX METAGENOMI THERAPEUTICS INC 0.4%

Value $520K (-16.7%) Shares 490,992 (-6.5%) Share Price $1.06 Est. Cost/Share $2.12 Unrealized @ Report Date -49.9%

FULC FULCRUM THERAPEUTICS INC 0.7%

Value $988K (-5.6%) Shares 266,914 (-6.6%) Share Price $3.70 Est. Cost/Share $6.08 Unrealized @ Report Date -39.2%

NNDM NANO DIMENSION LTD 1.6%

Value $2.155M (+2.4%) Shares 1,372,660 (-5.4%) Share Price $1.57 Est. Cost/Share $1.52 Unrealized @ Report Date +3.5%

LSBK LAKE SHORE BANCORP INC 0.9%

Value $1.205M (-3.4%) Shares 66,381 (-5.2%) Share Price $18.16 Est. Cost/Share $12.62 Unrealized @ Report Date +43.8%

FLGT FULGENT GENETICS INC 3.5%

Value $4.641M (+0.9%) Shares 210,783 (-6.0%) Share Price $22.02 Est. Cost/Share $19.43 Unrealized @ Report Date +13.3%

FBLA FB BANCORP INC 1.0%

Value $1.382M (+2.4%) Shares 83,835 (-6.4%) Share Price $16.48 Est. Cost/Share $12.12 Unrealized @ Report Date +35.9%

MED MEDIFAST INC 1.8%

Value $2.39M (+1.2%) Shares 207,502 (-6.8%) Share Price $11.52 Est. Cost/Share $12.39 Unrealized @ Report Date -7.0%

CLAR CLARUS CORP NEW 0.5%

Value $683K (+3.1%) Shares 201,545 (-4.2%) Share Price $3.39 Est. Cost/Share $4.15 Unrealized @ Report Date -18.3%

UEIC UNIVERSAL ELECTRS INC 1.6%

Value $2.197M (-0.5%) Shares 420,801 (-9.1%) Share Price $5.22 Est. Cost/Share $5.91 Unrealized @ Report Date -11.7%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
CVGI	COMMERCIAL VEH GROUP INC	273,553 (-37.9%)	$802K (-60.6%)	0.6%	$2.93	$1.68	+74.5%	COM	202608105
HOFT	HOOKER FURNISHINGS CORPORATI	184,151 (-5.7%)	$2.39M (-31.3%)	1.8%	$12.98	$13.12	-1.1%	COM	439038100
MEI	METHODE ELECTRS INC	134,637 (-6.7%)	$1.857M (-32.2%)	1.4%	$13.79	$7.39	+86.6%	COM	591520200
KVHI	KVH INDS INC	233,406 (-6.6%)	$1.641M (-33.7%)	1.2%	$7.03	$5.19	+35.5%	COM	482738101
UFI	UNIFI INC	550,713 (-5.4%)	$3.596M (+30.1%)	2.7%	$6.53	$5.53	+18.0%	COM NEW	904677200
OSUR	ORASURE TECHNOLOGIES INC	928,592 (-6.6%)	$3.64M (-17.9%)	2.7%	$3.92	$3.39	+15.7%	COM	68554V108
TBI	TRUEBLUE INC	535,937 (-10.8%)	$4.931M (+17.7%)	3.7%	$9.20	$5.33	+72.5%	COM	89785X101
LMNR	LIMONEIRA CO	319,344 (-6.3%)	$3.8M (-15.1%)	2.8%	$11.90	$14.34	-17.0%	COM	532746104
HURC	HURCO CO	250,425 (-5.4%)	$5.414M (-10.7%)	4.0%	$21.62	$20.04	+7.9%	COM	447324104
ALCO	ALICO INC	109,218 (-7.0%)	$4.214M (-13.3%)	3.1%	$38.58	$25.98	+48.5%	COM	016230104
ACTG	ACACIA RESH CORP	928,177 (-6.7%)	$4M (-13.7%)	3.0%	$4.31	$3.99	+8.1%	ACACIA TCH COM	003881307
CLW	CLEARWATER PAPER CORP	268,996 (-7.2%)	$5.154M (+13.4%)	3.8%	$19.16	$20.51	-6.6%	COM	18538R103
SEG	SEAPORT ENTMT GROUP INC	102,140 (-7.0%)	$2.338M (-20.0%)	1.7%	$22.89	$21.29	+7.5%	COMMON STOCK	812215200
FTEK	FUEL TECH INC	765,119 (-6.8%)	$1.239M (-31.7%)	0.9%	$1.62	$1.27	+27.4%	COM	359523107
GAIA	GAIA INC NEW	600,130 (-6.3%)	$792K (-41.1%)	0.6%	$1.32	$5.42	-75.6%	CL A	36269P104
ARQ	ARQ INC	740,306 (-6.0%)	$1.462M (-27.2%)	1.1%	$1.97	$3.68	-46.2%	COM	00770C101
KELYA	KELLY SVCS INC	179,285 (-6.8%)	$2.906M (+23.0%)	2.2%	$16.21	$9.64	+68.2%	CL A	488152208
TUSK	MAMMOTH ENERGY SVCS INC	758,985 (-6.0%)	$2.156M (-17.9%)	1.6%	$2.84	$2.44	+16.3%	COM	56155L108
BCYC	BICYCLE THERAPEUTICS PLC	501,708 (-6.7%)	$1.846M (-19.1%)	1.4%	$3.68	$4.84	-24.0%	SPONSORED ADS	088786108
STHO	STAR HLDGS	391,489 (-5.1%)	$3.355M (-10.9%)	2.5%	$8.57	$9.27	-7.6%	SHS BEN INT	85512G106
RGP	RESOURCES CONNECTION INC	500,763 (-6.7%)	$1.883M (-17.5%)	1.4%	$3.76	$4.55	-17.3%	COM	76122Q105
MXCT	MAXCYTE INC	1,980,392 (-6.8%)	$2.218M (-15.2%)	1.7%	$1.12	$0.96	+17.0%	COM	57777K106
CLDT	CHATHAM LODGING TR	424,198 (-7.2%)	$5.676M (-6.2%)	4.2%	$13.38	$7.38	—	COM	16208T102
JOUT	JOHNSON OUTDOORS INC	62,385 (-6.5%)	$2.723M (-11.4%)	2.0%	$43.65	$32.04	+36.3%	CL A	479167108
LAB	STANDARD BIOTOOLS INC	2,248,249 (-6.8%)	$1.665M (-16.1%)	1.2%	$0.74	$1.17	-36.7%	COM	34385P108
VRA	VERA BRADLEY INC	639,373 (-6.6%)	$2.954M (+10.9%)	2.2%	$4.62	$3.93	+17.4%	COM	92335C106
SGA	SAGA COMMUNICATIONS INC	196,587 (-6.3%)	$1.62M (-14.9%)	1.2%	$8.24	$12.55	-34.3%	CL A NEW	786598300
NTIC	NORTHERN TECHNOLOGIES INTL C	164,122 (-6.8%)	$1.277M (-15.3%)	1.0%	$7.78	$7.73	+0.6%	COM	665809109
SEER	SEER INC	421,484 (-5.4%)	$940K (+27.1%)	0.7%	$2.23	$2.19	+2.0%	COM CL A	81578P106
NKTX	NKARTA INC	518,406 (-5.7%)	$1.358M (-12.7%)	1.0%	$2.62	$2.03	+29.1%	COM	65487U108
INVE	INVE TECHNOLOGIES INC	546,881 (-6.9%)	$1.291M (-12.8%)	1.0%	$2.36	$3.70	-36.2%	COM NEW	45170X205
PLRX	PLIANT THERAPEUTICS INC	1,214,538 (-7.2%)	$1.312M (-12.1%)	1.0%	$1.08	$3.22	-66.5%	COM	729139105
AXR	AMREP CORP	44,373 (-5.1%)	$999K (-15.3%)	0.7%	$22.52	$32.07	-29.8%	COM	032159105
ENGN	ENGENE THERAPEUTICS INC	1,038,617 (-5.8%)	$2.077M (+8.9%)	1.5%	$2.00	$1.73	—	COM	29286X101
MYPS	PLAYSTUDIOS INC	2,805,253 (-6.6%)	$1.332M (-11.1%)	1.0%	$0.47 *	$0.05	-1.3%	CLASS A COM	72815G108
BSET	BASSETT FURNITURE INDS INC	116,954 (-5.6%)	$2.043M (-6.9%)	1.5%	$17.47	$14.84	+17.7%	COM	070203104
WHG	WESTWOOD HLDGS GROUP INC	75,133 (-6.2%)	$1.4M (-8.8%)	1.0%	$18.63	$15.40	+21.0%	COM	961765104
SENEA	SENECA FOODS CORP NEW	19,419 (-6.0%)	$3.457M (-3.8%)	2.6%	$178.00	$70.55	+152.3%	CL A	817070501
IPI	INTREPID POTASH INC	43,435 (-5.9%)	$1.393M (-7.9%)	1.0%	$32.08	$25.18	+27.4%	COM	46121Y201
HYNE	HOYNE BANCORP INC	92,436 (-5.9%)	$1.534M (-6.7%)	1.1%	$16.60	$14.04	+18.2%	COM	44326H107
MGX	METAGENOMI THERAPEUTICS INC	490,992 (-6.5%)	$520K (-16.7%)	0.4%	$1.06	$2.12	-49.9%	COM	59102M104
FULC	FULCRUM THERAPEUTICS INC	266,914 (-6.6%)	$988K (-5.6%)	0.7%	$3.70	$6.08	-39.2%	COM	359616109
NNDM	NANO DIMENSION LTD	1,372,660 (-5.4%)	$2.155M (+2.4%)	1.6%	$1.57	$1.52	+3.5%	SPONSORD ADS NEW	63008G203
LSBK	LAKE SHORE BANCORP INC	66,381 (-5.2%)	$1.205M (-3.4%)	0.9%	$18.16	$12.62	+43.8%	COM	510704109
FLGT	FULGENT GENETICS INC	210,783 (-6.0%)	$4.641M (+0.9%)	3.5%	$22.02	$19.43	+13.3%	COM	359664109
FBLA	FB BANCORP INC	83,835 (-6.4%)	$1.382M (+2.4%)	1.0%	$16.48	$12.12	+35.9%	COM	31425A109
MED	MEDIFAST INC	207,502 (-6.8%)	$2.39M (+1.2%)	1.8%	$11.52	$12.39	-7.0%	COM	58470H101
CLAR	CLARUS CORP NEW	201,545 (-4.2%)	$683K (+3.1%)	0.5%	$3.39	$4.15	-18.3%	COM	18270P109
UEIC	UNIVERSAL ELECTRS INC	420,801 (-9.1%)	$2.197M (-0.5%)	1.6%	$5.22	$5.91	-11.7%	COM	913483103