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
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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ACCO Brands COM 00081T108   753,513 251,171 SH   SOLE   200,311 0 50,860
Acacia Research Corp COM 003881307   3,930,934 817,242 SH   SOLE   509,375 0 307,867
Aebi Schmidt Holding AG COM H00501108   783,723 80,713 SH   SOLE   64,365 0 16,348
Alico Inc COM 016230104   11,772,798 285,332 SH   SOLE   177,824 0 107,508
Alight Cls A COM 01626W101   195,660 335,781 SH   SOLE   267,781 0 68,000
Alpine Income Property Trust COM 02083X103   4,793,760 266,320 SH   SOLE   165,984 0 100,336
American Coastal Insurance COM 910710102   635,929 56,527 SH   SOLE   45,077 0 11,450
American Integrity Insurance COM 026948109   7,508,018 389,420 SH   SOLE   243,002 0 146,418
American Public Education COM 02913V103   9,535,989 167,651 SH   SOLE   104,483 0 63,168
Amtech Systems COM 032332504   4,734,733 405,371 SH   SOLE   253,209 0 152,162
Asure Software COM 04649U102   6,035,291 701,778 SH   SOLE   450,893 0 250,885
Aviat Networks Inc COM 05366Y201   8,665,079 383,241 SH   SOLE   239,081 0 144,160
BGSF Inc COM 05601C105   2,484,719 384,037 SH   SOLE   239,345 0 144,692
Banc of California Inc COM 05990K106   681,594 38,771 SH   SOLE   30,921 0 7,850
Bankwell Financial Group COM 06654A103   8,151,360 168,000 SH   SOLE   104,710 0 63,290
Barrett Business Services Inc COM 068463108   1,122,117 38,455 SH   SOLE   30,665 0 7,790
Benchmark Electronics, Inc COM 08160H101   940,631 16,779 SH   SOLE   13,379 0 3,400
Bloomin Brands COM 094235108   360,736 66,803 SH   SOLE   53,273 0 13,530
Bowman Consulting Grp COM 103002101   6,983,499 245,552 SH   SOLE   153,034 0 92,518
Brandywine Realty Trust COM 105368203   671,611 247,827 SH   SOLE   197,577 0 50,250
Bridgewater Bancshares COM 108621103   1,274,701 72,017 SH   SOLE   57,427 0 14,590
Build A Bear Workshop COM 120076104   8,088,264 215,975 SH   SOLE   134,738 0 81,237
Burke Herbert Financial Servic COM 12135Y108   351,939 5,650 SH   SOLE   4,510 0 1,140
Business First Bancshares Inc COM 12326C105   1,281,236 47,383 SH   SOLE   37,783 0 9,600
CPI Card Group COM 12634H200   6,762,168 466,035 SH   SOLE   290,307 0 175,728
Caleres Inc COM 129500104   988,473 93,783 SH   SOLE   74,803 0 18,980
California Bancorp COM 84252A106   757,512 42,749 SH   SOLE   34,089 0 8,660
Capital Bancorp COM 139737100   6,878,446 231,286 SH   SOLE   144,360 0 86,926
Carters COM 146229109   1,548,336 43,298 SH   SOLE   34,598 0 8,700
Chiron Real Estate Inc COM 37954A303   4,353,659 131,610 SH   SOLE   85,688 0 45,922
Coastal Financial COM 19046P209   1,552,288 20,398 SH   SOLE   16,268 0 4,130
Cohu Inc COM 192576106   1,408,214 45,990 SH   SOLE   36,670 0 9,320
Colony Bankcorp COM 19623P101   6,427,305 321,848 SH   SOLE   200,781 0 121,067
Columbus McKinnon Corp COM 199333105   291,239 20,044 SH   SOLE   15,994 0 4,050
Commercial Banc Group COM 20112C106   5,867,666 225,506 SH   SOLE   140,716 0 84,790
Comtech Telecom Corp COM 205826209   1,539,763 463,784 SH   SOLE   289,144 0 174,640
ConnectOne Bancorp COM 20786W107   1,324,446 49,475 SH   SOLE   39,455 0 10,020
Cooper Standard Hlds COM 21676P103   3,663,233 131,440 SH   SOLE   82,021 0 49,419
Core Laboratories COM 21867A105   745,996 44,431 SH   SOLE   35,431 0 9,000
Core Molding Technologies COM 218683100   3,232,230 144,296 SH   SOLE   89,928 0 54,368
Cra Intl Inc COM 12618T105   406,643 2,512 SH   SOLE   2,002 0 510
Crawford & Co Cls A COM 224633206   638,220 64,014 SH   SOLE   51,054 0 12,960
Customers Bancorp COM 23204G100   760,664 10,959 SH   SOLE   8,739 0 2,220
DHI Group COM 23331S100   10,197,847 3,629,127 SH   SOLE   2,261,382 0 1,367,745
DMC Global Inc COM 23291C103   4,192,060 804,618 SH   SOLE   523,162 0 281,456
DXP Enterprises, Inc COM 233377407   1,641,828 11,750 SH   SOLE   9,370 0 2,380
Daktronics, Inc COM 234264109   915,155 46,811 SH   SOLE   37,331 0 9,480
Designer Brands COM 250565108   918,912 161,496 SH   SOLE   128,786 0 32,710
Douglas Dynamics Inc COM 25960R105   1,338,167 31,793 SH   SOLE   25,353 0 6,440
EPlus Inc COM 294268107   782,374 10,397 SH   SOLE   8,287 0 2,110
Edgewell Personal Care COM 28035Q102   612,074 28,682 SH   SOLE   22,892 0 5,790
Enerpac Tool Group COM 292765104   303,576 8,324 SH   SOLE   6,634 0 1,690
Ennis Inc COM 293389102   1,040,541 48,578 SH   SOLE   38,758 0 9,820
FS Bancorp COM 30263Y104   8,030,347 208,094 SH   SOLE   129,693 0 78,401
First Business Financial Servi COM 319390100   7,598,306 140,892 SH   SOLE   87,801 0 53,091
First Financial Corp COM 320218100   1,189,045 18,814 SH   SOLE   15,004 0 3,810
Five Star Bancorp COM 33830T103   6,667,048 176,751 SH   SOLE   115,907 0 60,844
Forrester Research COM 346563109   4,023,394 710,847 SH   SOLE   443,833 0 267,014
Gbank Financial Holdings COM 36166F100   1,076,020 40,210 SH   SOLE   32,070 0 8,140
Genasys COM 36872P103   2,642,929 1,452,159 SH   SOLE   906,686 0 545,473
GigaCloud Tech Cls A COM G38644103   965,369 21,273 SH   SOLE   16,963 0 4,310
Global Net Lease REIT COM 379378201   731,681 78,171 SH   SOLE   62,334 0 15,837
Hackett Group, Inc COM 404609109   878,721 67,542 SH   SOLE   53,862 0 13,680
Hamilton Beach Brands Hld COM 40701T104   6,520,866 344,109 SH   SOLE   214,441 0 129,668
Healthcare Services Group Inc COM 421906108   1,832,388 98,781 SH   SOLE   78,921 0 19,860
Heartland Express COM 422347104   425,786 40,941 SH   SOLE   32,651 0 8,290
Helen of Troy Corp COM G4388N106   827,420 57,380 SH   SOLE   45,760 0 11,620
Heritage Financial COM 42722X106   910,702 35,027 SH   SOLE   27,937 0 7,090
Heritage Insurance Hlds Inc COM 42727J102   10,653,825 405,860 SH   SOLE   253,266 0 152,594
Home Bancorp, Inc COM 43689E107   3,014,824 49,766 SH   SOLE   31,619 0 18,147
Horizon Bancorp COM 440407104   7,102,681 428,647 SH   SOLE   267,127 0 161,520
Hudson Technologies COM 444144109   863,948 146,930 SH   SOLE   117,140 0 29,790
Hurco Companies Inc COM 447324104   2,516,307 171,061 SH   SOLE   106,619 0 64,442
Hyster-Yale Cls A COM 449172105   905,176 27,843 SH   SOLE   22,203 0 5,640
InTest Corp COM 461147100   6,856,381 502,299 SH   SOLE   313,243 0 189,056
J. Jill Inc COM 46620W201   4,095,414 357,366 SH   SOLE   219,646 0 137,720
JAKKS Pacific Inc COM 47012E403   8,703,825 436,939 SH   SOLE   272,346 0 164,593
Janus International group COM 47103N106   292,304 56,758 SH   SOLE   45,248 0 11,510
Jefferson Capital COM 47248R103   552,939 28,754 SH   SOLE   22,934 0 5,820
Kelly Services Cls A COM 488152208   4,843,118 547,245 SH   SOLE   364,115 0 183,130
Kimball Electronics COM 49428J109   7,639,954 322,497 SH   SOLE   200,985 0 121,512
Koppers Holdings COM 50060P106   1,682,155 43,489 SH   SOLE   34,679 0 8,810
Lakeland Industries COM 511795106   7,608,354 928,981 SH   SOLE   579,553 0 349,428
Lifetime Brands Inc COM 53222Q103   2,845,530 495,737 SH   SOLE   308,872 0 186,865
Marcus Corp COM 566330106   2,883,015 167,910 SH   SOLE   104,670 0 63,240
Matrix Service Co COM 576853105   624,535 54,402 SH   SOLE   43,382 0 11,020
Merchants Bancorp COM 58844R108   1,233,791 28,753 SH   SOLE   22,933 0 5,820
Metropolitan Bank Hld COM 591774104   11,392,406 136,780 SH   SOLE   88,899 0 47,881
Miller Industries Inc COM 600551204   6,232,105 136,819 SH   SOLE   85,303 0 51,516
Mistras Group Inc COM 60649T107   4,216,350 285,274 SH   SOLE   183,447 0 101,827
Monro Muffler Brake Inc COM 610236101   508,885 31,726 SH   SOLE   25,306 0 6,420
MotorCar Parts of America Inc COM 620071100   8,542,976 772,421 SH   SOLE   481,885 0 290,536
NN Inc COM 629337106   599,656 413,556 SH   SOLE   258,578 0 154,978
NPK International COM 651718504   738,367 50,957 SH   SOLE   40,637 0 10,320
NWPX Infrastructure COM 667746101   8,575,812 110,144 SH   SOLE   68,736 0 41,408
National Cinemedia COM 635309206   480,055 157,395 SH   SOLE   125,505 0 31,890
Natural Gas Services Group Inc COM 63886Q109   11,524,815 305,374 SH   SOLE   190,513 0 114,861
Northeast Bank COM 66405S100   14,330,996 127,534 SH   SOLE   82,813 0 44,721
OneSpan Inc COM 68287N100   752,095 71,424 SH   SOLE   56,954 0 14,470
Orrstown Financial Services COM 687380105   5,319,419 147,434 SH   SOLE   91,874 0 55,560
PAMT Corp COM 693149106   1,644,700 194,639 SH   SOLE   121,315 0 73,324
PC Connection COM 69318J100   574,428 9,826 SH   SOLE   7,836 0 1,990
PRA Group COM 69354N106   770,350 44,020 SH   SOLE   35,110 0 8,910
Park Dental COM 700402100   2,273,690 135,500 SH   SOLE   84,640 0 50,860
Parke Bancorp COM 700885106   8,333,668 293,439 SH   SOLE   182,885 0 110,554
Pathward Financial Inc COM 59100U108   1,761,400 19,740 SH   SOLE   15,740 0 4,000
Penguin Solutions COM 706915105   1,166,387 66,272 SH   SOLE   52,842 0 13,430
Perdoceo Education Corp. COM 71363P106   2,040,782 54,845 SH   SOLE   43,735 0 11,110
Photronics Inc COM 719405102   2,086,813 51,641 SH   SOLE   41,181 0 10,460
QCR Holdings Inc COM 74727A104   1,062,229 12,431 SH   SOLE   9,911 0 2,520
RCM Technologies COM 749360400   5,466,556 285,609 SH   SOLE   178,325 0 107,284
Red Robin Gourmet Burgers COM 75689M101   5,253,461 1,792,990 SH   SOLE   1,118,567 0 674,423
Repay Holdings Cls A COM 76029L100   3,674,780 1,413,377 SH   SOLE   881,897 0 531,480
Resources Connection COM 76122Q105   195,191 52,330 SH   SOLE   41,730 0 10,600
Ribbon Communications Inc COM 762544104   521,893 246,176 SH   SOLE   196,236 0 49,940
Rimini Street Inc. COM 76674Q107   6,276,359 1,913,524 SH   SOLE   1,239,463 0 674,061
Riverview Bancorp COM 769397100   4,154,453 755,355 SH   SOLE   470,706 0 284,649
Sensus Healthcare COM 81728J109   3,168,367 796,072 SH   SOLE   496,382 0 299,690
Shimmick COM 82455M109   1,613,985 439,778 SH   SOLE   274,056 0 165,722
Shoe Carnival Inc COM 824889109   4,824,793 309,480 SH   SOLE   193,070 0 116,410
Silvercrest Asset Mgmnt Cls A COM 828359109   2,777,860 206,686 SH   SOLE   128,816 0 77,870
Sleep Number Corp COM 83125X103   3,172,564 1,767,445 SH   SOLE   1,101,103 0 666,342
Smith Micro Software COM 832154405   374,047 519,799 SH   SOLE   323,227 0 196,572
Stagwell Inc COM 85256A109   1,529,225 243,120 SH   SOLE   193,890 0 49,230
Standard Motor COM 853666105   514,048 14,797 SH   SOLE   11,797 0 3,000
Sunrise Realty Trust COM 867981102   3,091,278 403,035 SH   SOLE   251,496 0 151,539
Tilly's Inc Cls A COM 886885102   2,807,946 693,320 SH   SOLE   432,414 0 260,906
TrueBlue Inc COM 89785X101   291,178 74,470 SH   SOLE   59,410 0 15,060
Twin Disc Inc COM 901476101   7,995,630 530,566 SH   SOLE   330,669 0 199,897
USCB Financial Hlds COM 90355N101   6,346,613 342,320 SH   SOLE   213,345 0 128,975
Ultra Clean Holdings COM 90385V107   570,315 9,172 SH   SOLE   7,312 0 1,860
Unity Bancorp COM 913290102   8,233,144 158,849 SH   SOLE   99,175 0 59,674
Universal Electronics Inc COM 913483103   1,445,708 350,900 SH   SOLE   218,607 0 132,293
Universal Logistics COM 91388P105   722,100 34,158 SH   SOLE   27,238 0 6,920
Versabank COM 92512J106   8,360,484 590,013 SH   SOLE   367,631 0 222,382
Wabash National Corp. COM 929566107   967,198 112,204 SH   SOLE   89,484 0 22,720
Zumiez Inc COM 989817101   492,883 22,242 SH   SOLE   17,732 0 4,510