The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ACUSHNET HOLDINGS CORP. COM 005098108 42,193 1,012,301 SH   SOLE   689,822 0 322,479
BANK OZK COM 06417N103 60,481 1,611,541 SH   SOLE   1,110,727 0 500,814
BLACKBAUD INC. COM 09227Q100 57,434 989,048 SH   SOLE   673,589 0 315,459
BLUCORA, INC. COM 095229100 55,992 3,033,126 SH   SOLE   2,065,195 0 967,931
BOK FINANCIAL CORPORATION COM NEW 05561Q201 1,224 16,189 SH   SOLE   16,189 0 0
BRADY CORP CL A CL A 104674106 62,619 1,325,552 SH   SOLE   902,938 0 422,614
BRUNSWICK CORP. COM 117043109 43,959 672,355 SH   SOLE   464,944 0 207,411
CERENCE INC COM 156727109 31,857 1,262,647 SH   SOLE   869,060 0 393,587
CHARLES RIVER LABORATORIES COM 159864107 42,568 198,946 SH   SOLE   137,664 0 61,282
CHEMED CORP. COM 16359R103 50,725 108,065 SH   SOLE   74,695 0 33,370
DOUBLEVERIFY HOLDINGS INC COM 25862V105 52,903 2,333,596 SH   SOLE   1,608,633 0 724,963
ENSIGN GROUP INC COM 29358P101 66,370 903,357 SH   SOLE   622,301 0 281,056
ENVESTNET, INC. COM 29404K106 59,580 1,129,044 SH   SOLE   776,712 0 352,332
EURONET WORLDWIDE INC. COM 298736109 53,129 528,178 SH   SOLE   363,541 0 164,637
FEDERAL SIGNAL CORP COM 313855108 80,299 2,255,593 SH   SOLE   1,550,528 0 705,065
FOX FACTORY HOLDING CORP. COM 35138V102 55,470 688,730 SH   SOLE   474,708 0 214,022
FRONTDOOR INC. COM 35905A109 35,935 1,492,298 SH   SOLE   1,016,210 0 476,088
FTI CONSULTING INC. COM 302941109 58,887 325,613 SH   SOLE   221,641 0 103,972
GENTHERM INC. COM 37253A103 47,438 760,109 SH   SOLE   523,081 0 237,028
GLOBUS MEDICAL INC. CL A 379577208 49,736 885,922 SH   SOLE   611,396 0 274,526
GODADDY INC. CL A 380237107 1,261 18,131 SH   SOLE   18,131 0 0
GRAND CANYON EDUCATION INC. COM 38526M106 80,734 857,137 SH   SOLE   590,009 0 267,128
HAMILTON LANE INC CL A 407497106 60,400 899,073 SH   SOLE   618,915 0 280,158
HEALTHEQUITY INC COM 42226A107 45,292 737,777 SH   SOLE   502,289 0 235,488
HOULIHAN LOKEY INC. CL A 441593100 57,536 728,947 SH   SOLE   501,847 0 227,100
INSTALLED BLDG PRODS INC COM 45780R101 56,673 681,497 SH   SOLE   470,800 0 210,697
IPG PHOTONICS CORP. COM 44980X109 1,226 13,029 SH   SOLE   13,029 0 0
IRIDIUM COMMUNICATIONS INC. COM 46269C102 74,700 1,988,828 SH   SOLE   1,369,269 0 619,559
LAUREATE EDUCATION, INC. COMMON STOCK 518613203 59,682 5,158,350 SH   SOLE   3,554,853 0 1,603,497
MARKETAXESS HOLDINGS INC. COM 57060D108 38,538 150,535 SH   SOLE   103,981 0 46,554
MARRIOTT VACATIONS WORLDWIDE CORP. COM 57164Y107 51,519 443,363 SH   SOLE   305,327 0 138,036
MAXIMUS, INC. COM 577933104 59,738 955,657 SH   SOLE   656,193 0 299,464
NMI HOLDINGS INC CL A CL A 629209305 56,375 3,385,865 SH   SOLE   2,306,375 0 1,079,490
ORMAT TECHNOLOGIES INC. COM 686688102 59,133 754,727 SH   SOLE   520,389 0 234,338
PENNANT GROUP INC COM 70805E109 976 76,157 SH   SOLE   76,157 0 0
PRIMORIS SERVICES CORP. COM 74164F103 51,223 2,354,019 SH   SOLE   1,618,821 0 735,198
PURPLE INNOVATION INC COM 74640Y106 12,884 4,210,427 SH   SOLE   2,868,811 0 1,341,616
QUALYS INC COM 74758T303 62,370 494,452 SH   SOLE   341,069 0 153,383
RLI CORP. COM 749607107 63,295 542,887 SH   SOLE   374,379 0 168,508
SHAKE SHACK INC CL A CL A 819047101 41,340 1,047,116 SH   SOLE   718,912 0 328,204
SILICON LABORATORIES INC. COM 826919102 50,774 362,105 SH   SOLE   249,386 0 112,719
SOTERA HEALTH CO COM 83601L102 1,729 88,263 SH   SOLE   88,263 0 0
STONEX GROUP INC COM 861896108 78,228 1,002,025 SH   SOLE   690,825 0 311,200
TAKE-TWO INTERACTIVE SOFTWARE COM 874054109 1,533 12,512 SH   SOLE   12,512 0 0
TEMPUR SEALY INTERNATIONAL INC. COM 88023U101 41,998 1,965,264 SH   SOLE   1,338,062 0 627,202
THERMON GROUP HOLDINGS INC COM 88362T103 38,424 2,734,791 SH   SOLE   1,886,731 0 848,060
TRACTOR SUPPLY COMPANY COM 892356106 1,662 8,576 SH   SOLE   8,576 0 0
UNIVERSAL HEALTH SERVICES CL B 913903100 24,327 241,557 SH   SOLE   164,656 0 76,901
VICTORY CAP HLDGS INC COM CL A COM CL A 92645B103 37,153 1,541,598 SH   SOLE   1,068,475 0 473,123
VIRTU FINANCIAL CL A 928254101 51,039 2,180,241 SH   SOLE   1,503,338 0 676,903
YETI HOLDINGS INC COM 98585X104 36,772 849,824 SH   SOLE   586,678 0 263,146
CAE INC COM 124765108 11,982 486,763 SH   SOLE   360,712 0 126,051
COLLIERS INTERNATIONAL GROUP INC. SUB VTG SHS 194693107 22,531 205,869 SH   SOLE   152,492 0 53,377
FIRSTSERVICE CORP. COM 33767E202 8,835 72,911 SH   SOLE   54,136 0 18,775
STANTEC INC. COM 85472N109 15,889 363,079 SH   SOLE   269,031 0 94,048
TUCOWS INC. COM NEW 898697206 11,972 269,324 SH   SOLE   199,771 0 69,553
DADA NEXUS LTD ADR ADS 23344D108 1,922 236,943 SH   SOLE   236,943 0 0
KULICKE & SOFFA INDUSTRIES ADR COM 501242101 2,274 53,127 SH   SOLE   53,127 0 0
VIPSHOP HOLDINGS LIMITED ADR SPONSORED ADS A 92763W103 1,381 139,663 SH   SOLE   139,663 0 0
VNET GROUP INC. ADR SPONSORED ADS A 90138A103 2,475 409,804 SH   SOLE   409,804 0 0
YUM CHINA HOLDINGS ADR COM 98850P109 2,234 46,056 SH   SOLE   46,056 0 0