Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (7 quarters reported)
$104M in Q4 2024 → $227M now. Hover for any quarter.
As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| Envela Corporation | 15.9% | Trimmed 2.3% | 1,248,319 | $36.1M |
| Bank7 Corp | 10.3% | Added 0.6% | 475,610 | $23.3M |
| AI American Integrity Insurance | 8.1% | Added 16% | 977,969 | $18.4M |
| Acme United Corp | 8.0% | Unchanged | 380,643 | $18.2M |
| Dlh Holdings Corp | 6.5% | Added 5.2% | 2,816,058 | $14.8M |
| Ascent Industries Co | 5.9% | Trimmed 0.3% | 884,483 | $13.3M |
| CE Currency Exchange Internatio | 5.8% | Unchanged | 613,221 | $13M |
| A Astro-med Inc | 4.8% | Unchanged | 380,965 | $10.8M |
| Rimini Street Inc | 4.5% | Added 23% | 2,368,353 | $10.1M |
| Butler National Corp | 2.6% | Added 4.9% | 1,421,111 | $5.93M |
| Creative Realities Inc | 2.1% | Added 53% | 1,166,954 | $4.82M |
| Legacy Education Inc | 2.0% | Added 54% | 389,498 | $4.58M |
| First Northwest Bancorp | 2.0% | New | 417,006 | $4.51M |
| RT Rcm Technologies Inc | 1.7% | New | 134,688 | $3.8M |
| Star Equity Holdings Inc | 1.5% | Unchanged | 316,139 | $3.37M |
| Red Robin Gourmet Burgers | 1.5% | Added 4.9% | 416,211 | $3.33M |
| Regis Corp | 1.4% | Added 11% | 112,362 | $3.15M |
| Heritage Global Inc | 1.2% | Added 1.6% | 2,273,077 | $2.75M |
| Friedman Industries | 1.2% | Trimmed 48% | 84,171 | $2.71M |
| Exagen Inc | 1.0% | Added 29% | 475,944 | $2.21M |
| CH Comstock Homebuilding Cos-a | 0.9% | Added 1.5% | 121,473 | $1.94M |
| Acres Commercial Realty Corp | 0.8% | Added 9.9% | 101,618 | $1.81M |
| Standard Biotools Inc | 0.8% | New | 2,190,973 | $1.8M |
| Laird Superfood Inc | 0.8% | Added 1.8% | 361,729 | $1.7M |
| Stran & Co Inc | 0.7% | Added 52% | 756,482 | $1.69M |
| Fluent Inc | 0.7% | Added 21% | 409,033 | $1.53M |
| Health Catalyst Inc | 0.6% | New | 738,277 | $1.47M |
| Holley Inc | 0.6% | Unchanged | 551,738 | $1.41M |
| Amrep Corp | 0.6% | Unchanged | 50,621 | $1.28M |
| CB Citizens Bancshares Corp | 0.5% | New | 22,700 | $1.22M |
| HI Health In Tech Inc-class A | 0.5% | Added 41% | 1,133,369 | $1.14M |
| MP Motorcar Parts Of America In | 0.5% | Trimmed 51% | 70,719 | $1.08M |
| MI Mcdermott International Ltd | 0.5% | Unchanged | 46,530 | $1.02M |
| Optex Systems Holdings Inc | 0.4% | Trimmed 3.9% | 62,284 | $874K |
| Optimizerx Corp | 0.4% | New | 141,235 | $808K |
| KS Kewaunee Scientific Cp | 0.3% | Unchanged | 21,447 | $762K |
| NA Natural Alternatives Intl | 0.3% | Trimmed 0.1% | 293,447 | $701K |
| Champions Oncology Inc | 0.3% | Unchanged | 111,338 | $686K |
| Opus Genetics Inc | 0.3% | Trimmed 73% | 161,205 | $663K |
| Fitlife Brands Inc | 0.2% | Added 63% | 46,637 | $513K |
| Netsol Technologies Inc | 0.2% | Unchanged | 109,346 | $505K |
| Optimumbank Holdings Inc | 0.2% | New | 78,552 | $459K |
| Freightos Ltd | 0.2% | Unchanged | 289,198 | $440K |
| Quest Resource Holding Corp | 0.2% | Unchanged | 295,587 | $372K |
| FC First Carolina Financial Ser | 0.2% | New | 26,733 | $354K |
| Fractyl Health Inc | 0.1% | New | 352,745 | $280K |
| Canterbury Park Holding Corp | 0.1% | Unchanged | 14,589 | $230K |
| Harvard Bioscience Inc | 0.1% | New | 33,369 | $205K |
| Century Casinos Inc | 0.1% | Unchanged | 136,001 | $174K |
| Acorn Energy Inc | 0.1% | Unchanged | 10,000 | $170K |
| Access Newswire Inc | 0.1% | Unchanged | 20,396 | $133K |
| Xtant Medical Holdings Inc | 0.0% | Unchanged | 109,466 | $46.1K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 6 quarters.
quarter ended June 30, 2026 · filed August 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| First Northwest Bancorp | New | +417,006 | +$4.51M | 2.0% |
| RT Rcm Technologies Inc | New | +134,688 | +$3.8M | 1.7% |
| MS Mdxhealth Sa-adr | Exited | −1,203,454 | −$2.77M | — |
| AI American Integrity Insurance | Added | +135,531 | +$2.55M | 8.1% |
| Friedman Industries | Trimmed | −78,729 | −$2.53M | 1.2% |
| Rimini Street Inc | Added | +448,523 | +$1.91M | 4.5% |
| Standard Biotools Inc | New | +2,190,973 | +$1.8M | 0.8% |
| Opus Genetics Inc | Trimmed | −429,347 | −$1.76M | 0.3% |
| Twin Disc Inc | Exited | −111,216 | −$1.68M | — |
| Creative Realities Inc | Added | +403,575 | +$1.67M | 2.1% |
Showing the 10 largest of 47 changes.
quarter ended March 31, 2026 · filed April 01, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Opus Genetics Inc | Trimmed | −1,075,079 | −$4.89M | 1.5% |
| Crawford United Corporation | Exited | −46,400 | −$3.77M | — |
| AI American Integrity Insurance | Added | +194,033 | +$3.74M | 9.1% |
| Creative Realities Inc | New | +763,379 | +$2.63M | 1.5% |
| MS Mdxhealth Sa-adr | Added | +940,034 | +$2.16M | 1.5% |
| Twin Disc Inc | Trimmed | −135,138 | −$2.04M | 0.9% |
| Rimini Street Inc | Added | +620,089 | +$2.03M | 3.5% |
| CH Comstock Homebuilding Cos-a | Added | +103,305 | +$1.96M | 1.3% |
| Acres Commercial Realty Corp | New | +92,430 | +$1.79M | 1.0% |
| Ascent Industries Co | Added | +130,004 | +$1.73M | 6.6% |
Showing the 10 largest of 46 changes.
quarter ended December 31, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Duos Technologies Group Inc | Trimmed | −682,079 | −$7.67M | 0.7% |
| AI American Integrity Insurance | Added | +169,932 | +$3.54M | 8.5% |
| Rimini Street Inc | Added | +550,167 | +$2.13M | 3.2% |
| Legacy Education Inc | New | +202,333 | +$2.06M | 1.3% |
| Exagen Inc | Added | +313,727 | +$1.91M | 1.4% |
| Electrovaya Inc | Trimmed | −236,467 | −$1.87M | 0.5% |
| Regis Corp | Added | +59,846 | +$1.66M | 1.2% |
| Forte Biosciences Inc | Exited | −81,312 | −$1.22M | — |
| Twin Disc Inc | Trimmed | −52,166 | −$870K | 2.6% |
| Opus Genetics Inc | Added | +427,684 | +$860K | 2.1% |
Showing the 10 largest of 39 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Duos Technologies Group Inc | New | +782,079 | +$5.76M | 3.9% |
| Twin Disc Inc | Added | +237,073 | +$3.3M | 2.8% |
| Rimini Street Inc | Added | +699,574 | +$3.27M | 2.4% |
| Red Robin Gourmet Burgers | New | +459,452 | +$3.15M | 2.1% |
| Butler National Corp | New | +1,032,137 | +$2.04M | 1.4% |
| Sr Bancorp Inc | Exited | −96,963 | −$1.31M | — |
| Amrep Corp | New | +50,000 | +$1.2M | 0.8% |
| AI American Integrity Insurance | Added | +51,933 | +$1.16M | 7.2% |
| Dlh Holdings Corp | Added | +199,584 | +$1.13M | 9.8% |
| Friedman Industries | Trimmed | −47,880 | −$1.05M | 2.2% |
Showing the 10 largest of 45 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AI American Integrity Insurance | New | +426,540 | +$7.84M | 6.8% |
| Dlh Holdings Corp | Added | +928,258 | +$5.42M | 12.0% |
| Sr Bancorp Inc | Trimmed | −265,989 | −$3.59M | 1.1% |
| Ascent Industries Co | Trimmed | −200,697 | −$2.53M | 8.8% |
| Acme United Corp | Added | +58,601 | +$2.43M | 13.6% |
| Bank7 Corp | Added | +47,697 | +$2M | 17.0% |
| Eton Pharmaceuticals Inc | Trimmed | −126,349 | −$1.8M | 0.2% |
| Fitlife Brands Inc | Exited | −76,766 | −$929K | — |
| Exagen Inc | New | +130,000 | +$907K | 0.8% |
| Crawford United Corporation | Added | +16,010 | +$793K | 1.9% |
Showing the 10 largest of 39 changes.
quarter ended March 31, 2025 · filed May 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Eton Pharmaceuticals Inc | Trimmed | −314,317 | −$4.08M | 1.9% |
| Acme United Corp | Added | +58,729 | +$2.33M | 13.3% |
| Fitlife Brands Inc | Exited | −38,383 | −$1.25M | — |
| Envela Corporation | Added | +156,754 | +$977K | 8.5% |
| Sr Bancorp Inc | Added | +78,811 | +$940K | 4.6% |
| Fitlife Brands Inc | New | +76,766 | +$929K | 1.0% |
| Opus Genetics Inc | New | +810,080 | +$795K | 0.8% |
| CE Currency Exchange Internatio | Added | +51,711 | +$748K | 8.6% |
| Kvh Industries Inc | New | +83,301 | +$441K | 0.5% |
| Codexis Inc | New | +126,642 | +$341K | 0.4% |
Showing the 10 largest of 22 changes.
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