Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (51 quarters reported)
$445M in Q2 2013 → $59.8M now. Hover for any quarter.
As reported for the quarter ended December 31, 2025. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| Bel Fuse Inc | 4.0% | Trimmed 0.7% | 14,051 | $2.38M |
| Avino Silver & Gold Mines Ltd | 3.6% | Trimmed 25% | 350,000 | $2.17M |
| Perma-fix Environmental Services Inc. | 3.5% | Trimmed 5.1% | 166,300 | $2.09M |
| SA Silvercrest Asset Mgmt Group | 3.3% | Unchanged | 128,398 | $1.95M |
| Endeavour Silver Corp | 3.2% | Trimmed 0.9% | 206,432 | $1.94M |
| Radiant Logistics Inc | 3.0% | Trimmed 8.0% | 285,682 | $1.81M |
| Mcewen Inc. | 2.8% | Unchanged | 89,470 | $1.66M |
| Npk International Inc | 2.8% | Unchanged | 138,500 | $1.65M |
| EC Ezcorp Inc Cl A Non Vtg | 2.6% | Unchanged | 80,400 | $1.56M |
| NP Northwest Pipe Co | 2.6% | Unchanged | 24,700 | $1.54M |
| Photronics Inc | 2.5% | Unchanged | 46,300 | $1.48M |
| LH Legacy Housing Corp | 2.3% | Trimmed 1.4% | 71,682 | $1.4M |
| Northern Technologies International Corp | 2.2% | Trimmed 1.3% | 169,831 | $1.33M |
| US U S Global Invs Incorpora | 2.1% | Unchanged | 522,967 | $1.26M |
| Research Solutions Inc | 1.8% | Unchanged | 356,818 | $1.05M |
| Bk Technologies Corporation | 1.7% | Unchanged | 14,000 | $1.04M |
| MI Miller Inds Inc Tenn | 1.7% | Unchanged | 26,607 | $994K |
| LI Lsi Inds Inc Ohio | 1.6% | Unchanged | 52,854 | $968K |
| Viemed Healthcare Inc | 1.6% | Added 4.0% | 130,100 | $967K |
| LE Lincoln Edl Svcs Corp | 1.6% | Unchanged | 38,800 | $937K |
| DH Dlh Hldgs Corp | 1.6% | Trimmed 3.5% | 164,200 | $928K |
| IS Information Svcs Group Inc | 1.5% | Unchanged | 159,440 | $922K |
| OG Orion Group Hldgs Inc | 1.5% | Unchanged | 87,600 | $871K |
| IH Infusystem Hldgs Inc | 1.5% | Unchanged | 96,800 | $868K |
| MS Mitek Sys Inc Com | 1.3% | Added 16% | 74,166 | $782K |
| Bowman Consulting Group Ltd | 1.3% | Unchanged | 23,690 | $782K |
| Star Equity Holdings Inc | 1.2% | Unchanged | 66,300 | $746K |
| GI Gencor Inds Inc | 1.2% | Added 15% | 57,122 | $740K |
| FS Flexible Solutions Intl Inc | 1.2% | Added 0.6% | 108,200 | $728K |
| Ceco Environmental Corp | 1.2% | Unchanged | 12,000 | $718K |
| Ooma Inc | 1.1% | Added 45% | 58,000 | $680K |
| UT Universal Technical Inst Inc | 1.1% | Trimmed 1.9% | 25,700 | $672K |
| IS Ibex Ltd Shs New | 1.1% | Added 13% | 17,350 | $662K |
| Perion Network Ltd | 1.1% | Added 19% | 66,500 | $637K |
| CS Carriage Svcs Inc | 1.1% | Added 15% | 14,992 | $634K |
| Coda Octopus Group Inc | 1.0% | Added 8.0% | 67,250 | $625K |
| EP Evolution Pete Corp | 1.0% | Trimmed 1.2% | 174,275 | $617K |
| Creative Realities Inc | 1.0% | Unchanged | 224,900 | $587K |
| NG Natural Gas Svcs Group Inc | 1.0% | Added 13% | 17,000 | $572K |
| Consensus Cloud Solutions Inc | 0.9% | Added 63% | 26,000 | $567K |
| Immersion Corp | 0.9% | Unchanged | 83,301 | $566K |
| Aviat Networks Inc | 0.9% | Trimmed 1.9% | 26,350 | $563K |
| Usio Inc | 0.9% | Unchanged | 413,700 | $563K |
| ME Mayville Engr Co Inc | 0.9% | Unchanged | 30,000 | $562K |
| Techprecision Corp | 0.9% | Added 76% | 115,731 | $559K |
| NS Natures Sunshine Prods Inc | 0.9% | Unchanged | 25,000 | $540K |
| Vaalco Energy Inc | 0.9% | Added 2.1% | 145,670 | $530K |
| AE Alliance Entertainment Holding Com | 0.9% | Added 27% | 65,000 | $525K |
| DH Dice Holdings Inc | 0.9% | Added 17% | 328,300 | $509K |
| SG Superior Group Of Co Inc | 0.8% | Added 21% | 52,066 | $504K |
| Sensus Healthcare Inc | 0.8% | Unchanged | 125,586 | $500K |
| Pure Cycle Corp | 0.8% | Unchanged | 43,532 | $478K |
| First Internet Bancorp | 0.8% | Added 17% | 22,831 | $476K |
| Asure Software Inc Corp. | 0.8% | Added 25% | 50,000 | $471K |
| Hf Foods Group Inc | 0.8% | Added 35% | 211,900 | $456K |
| Heritage Global Inc | 0.7% | Added 22% | 360,866 | $447K |
| CA Chicago Atlantic Real Estate F | 0.7% | Added 38% | 36,498 | $447K |
| Twin Disc Inc | 0.7% | Unchanged | 25,000 | $417K |
| Paysign Inc | 0.7% | Added 300% | 80,000 | $412K |
| UB Ultralife Batteries Inc | 0.7% | Added 7.7% | 70,000 | $400K |
Showing top 60 of 79 positions.
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IC Ishares Core Dividend Growth ETF | Exited | −169,068 | −$11.5M | — |
| SS State Street SPDR S&P 600 Small Cap Value ETF | Exited | −126,526 | −$11.2M | — |
| VI Vanguard International Dividend Appreciation ETF | Exited | −116,495 | −$10.4M | — |
| SS SPDR S&P 500 ETF | Exited | −15,637 | −$10.4M | — |
| DE Dimensional ETF Trust | Exited | −203,479 | −$9.38M | — |
| DE Dimensional ETF Trust | Exited | −291,631 | −$9.2M | — |
| DE Dimensional ETF Trust | Exited | −282,482 | −$8.93M | — |
| DS Distillate Small/mid Cash Flow ETF | Exited | −240,576 | −$8.63M | — |
| DU Distillate Us Fundamental Stability & Value ETF | Exited | −142,727 | −$8.27M | — |
| SA Sprott Asset Management LP Physical Gold Tr | Exited | −199,303 | −$5.9M | — |
Showing the 10 largest of 279 changes.
quarter ended September 30, 2025 · filed November 17, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| DE Dimensional ETF Trust | Trimmed | −36,316 | −$1.15M | 4.2% |
| PS Power Solutions Intl Inc | Trimmed | −9,420 | −$925K | 0.2% |
| CN Ceragan Networks Ltd | Exited | −227,600 | −$560K | — |
| Willdan Group Inc | Exited | −8,000 | −$500K | — |
| SS SPDR S&P North American Natural Resources ETF | Trimmed | −7,625 | −$493K | 2.0% |
| AS Aebi Schmidt Hldg Ag | New | +39,065 | +$487K | 0.2% |
| Build-a-bear Workshop Inc | Trimmed | −7,000 | −$456K | 0.2% |
| Avino Silver & Gold Mines Ltd | Trimmed | −85,000 | −$446K | 1.2% |
| DS Distillate Small/mid Cash Flow ETF | Added | +12,136 | +$435K | 4.1% |
| Shyft Group Inc | Exited | −33,150 | −$416K | — |
Showing the 10 largest of 205 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| DS Distillate Small/mid Cash Flow ETF | Added | +67,972 | +$2.21M | 3.8% |
| SS SPDR S&P 600 Small Cap Value ETF | Added | +8,056 | +$643K | 5.2% |
| Icad Inc | Exited | −180,100 | −$371K | — |
| NS Natures Sunshine Prods Inc | New | +25,000 | +$370K | 0.2% |
| GR Greenfire Res Ltd | Exited | −62,000 | −$364K | — |
| Avino Silver & Gold Mines Ltd | Trimmed | −100,000 | −$360K | 1.0% |
| SH Swk Hldgs Corp | Exited | −20,225 | −$352K | — |
| LC Lennar Corp Cl A | Exited | −2,875 | −$330K | — |
| SS Strattec Sec Corp | Exited | −8,000 | −$316K | — |
| DR D R Horton Inc Com | New | +2,414 | +$311K | 0.2% |
Showing the 10 largest of 229 changes.
quarter ended March 31, 2025 · filed May 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| DS Distillate Small/mid Cash Flow ETF | Added | +32,824 | +$1.04M | 2.8% |
| SP Sprott Physical Gold Tr | Trimmed | −24,600 | −$592K | 2.8% |
| SS SPDR S&P 500 ETF | Added | +1,049 | +$587K | 4.9% |
| Skyworks Solutions Inc | Exited | −6,427 | −$570K | — |
| AS American Software Inc. | Exited | −46,968 | −$520K | — |
| MS Matrix Svc Co | Exited | −40,200 | −$481K | — |
| GR Greenfire Res Ltd | Exited | −67,150 | −$474K | — |
| Forum Energy Technologies Inc | New | +18,650 | +$375K | 0.2% |
| GR Greenfire Res Ltd | New | +62,000 | +$364K | 0.2% |
| AC Alico Inc Com | Added | +11,300 | +$337K | 0.3% |
Showing the 10 largest of 260 changes.
quarter ended December 31, 2024 · filed February 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Oracle Corporation | Trimmed | −3,968 | −$661K | 0.3% |
| MI Miller Inds Inc Tenn | Trimmed | −10,000 | −$654K | 1.0% |
| Profire Energy Inc | Exited | −340,800 | −$573K | — |
| SS SPDR S&P Global Natural Resources ETF | Added | +10,220 | +$509K | 0.7% |
| Dow Inc | New | +12,155 | +$488K | 0.3% |
| Kraft Heinz Co | New | +15,735 | +$483K | 0.3% |
| SA Silvercrest Asset Mgmt Group | Trimmed | −24,939 | −$459K | 1.6% |
| PS Power Solutions Intl Inc | New | +15,000 | +$446K | 0.2% |
| DU Distillate Us Fundamental Stability & Value ETF | Added | +6,791 | +$373K | 3.8% |
| WC Wildbrain Ltd Com Var Vtg | Exited | −383,125 | −$363K | — |
Showing the 10 largest of 213 changes.
quarter ended September 30, 2024 · filed November 12, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P North American Natural Resources ETF | New | +72,982 | +$4.13M | 2.1% |
| SP Sprott Physical Gold Tr | Trimmed | −112,413 | −$2.29M | 2.5% |
| SA Sealed Air Corp New Com | New | +11,809 | +$429K | 0.2% |
| GR Greenfire Res Ltd | New | +56,850 | +$424K | 0.2% |
| BC Biote Corp Class A Com | New | +73,150 | +$408K | 0.2% |
| GR Greenfire Res Ltd | Exited | −56,850 | −$384K | — |
| WC Wildbrain Ltd Com Var Vtg | New | +383,125 | +$363K | 0.2% |
| IS Ibex Ltd Shs New | New | +16,600 | +$332K | 0.2% |
| Bgsf Inc | Trimmed | −33,062 | −$278K | 0.1% |
| Walmart Inc | Trimmed | −3,011 | −$246K | — |
Showing the 10 largest of 221 changes.
quarter ended June 30, 2024 · filed August 07, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| MC Mamas Creations Inc | Trimmed | −167,203 | −$1.13M | 0.3% |
| Northern Technologies International Corp | Trimmed | −45,185 | −$748K | 1.9% |
| Csi Compressco LP | Exited | −300,000 | −$699K | — |
| Bel Fuse Inc | Trimmed | −9,064 | −$591K | 0.8% |
| MS Mitek Sys Inc | New | +50,000 | +$559K | 0.3% |
| Geospace Technologies Corp | Exited | −40,000 | −$528K | — |
| ST SS&C Technologies Hldgs Inc | New | +7,565 | +$474K | 0.3% |
| Newmont Corp | Added | +9,322 | +$390K | 0.3% |
| GR Greenfire Res Ltd | New | +56,850 | +$384K | 0.2% |
| Phx Minerals Inc | Exited | −106,000 | −$361K | — |
Showing the 10 largest of 239 changes.
quarter ended March 31, 2024 · filed May 15, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| VF Vanguard Ftse Emerging Markets ETF | Trimmed | −124,569 | −$5.2M | 0.4% |
| DS Distillate Small/mid Cash Flow ETF | New | +114,822 | +$4.25M | 2.3% |
| IC Ishares Core S&P Mid Cap ETF | Added | +63,645 | +$3.87M | 2.6% |
| DU Distillate Us Fundamental Stability & Value ETF | Added | +12,365 | +$667K | 3.4% |
| Intel Corp | Exited | −9,889 | −$497K | — |
| S Schlumberger Ltd | New | +8,170 | +$448K | 0.2% |
| Euroseas Ltd | Trimmed | −12,134 | −$435K | 0.3% |
| Stryker Corp | Trimmed | −1,183 | −$423K | 0.4% |
| LF Lb Foster Co | Exited | −15,000 | −$330K | — |
| Bowman Consulting Group Ltd | Trimmed | −8,600 | −$299K | 0.4% |
Showing the 10 largest of 213 changes.
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