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
AGILYSYS ORD COM 00847J105 16,700 318,937 SH   SOLE   89,960 0 228,977
AGILYSYS ORD COM 00847J105 5,028 96,030 SH   OTR 1 96,030 0 0
AGILYSYS ORD COM 00847J105 1,704 32,550 SH   OTR 2 32,550 0 0
ALEXANDER & BALDWIN INC COM 014491104 15,150 646,319 SH   SOLE   116,050 0 530,269
ALEXANDER & BALDWIN INC COM 014491104 4,561 194,576 SH   OTR 1 194,576 0 0
ARGAN ORD COM 04010E109 13,525 309,707 SH   SOLE   80,290 0 229,417
ARGAN ORD COM 04010E109 4,066 93,105 SH   OTR 1 93,105 0 0
ARGAN ORD COM 04010E109 1,078 24,674 SH   OTR 2 24,674 0 0
AVID BIOSERVICES ORD COM 05368M106 44,757 2,074,950 SH   SOLE   1,326,428 0 748,522
AVID BIOSERVICES ORD COM 05368M106 6,581 305,114 SH   OTR 1 305,114 0 0
AVID BIOSERVICES ORD COM 05368M106 1,817 84,252 SH   OTR 2 84,252 0 0
BGC PARTNERS CL A ORD COM 05541T101 22,625 4,342,690 SH   SOLE   4,342,690 0 0
B RILEY FINANCIAL ORD COM 05580M108 1,139 19,290 SH   OTR 2 19,290 0 0
BAKER HUGHES CL A ORD COM 05722G100 23,441 947,880 SH   SOLE   947,880 0 0
CABLE ONE ORD COM 12685J105 20,271 11,180 SH   SOLE   11,180 0 0
CHASE ORD COM 16150R104 12,744 124,757 SH   SOLE   33,717 0 91,040
CHASE ORD COM 16150R104 3,837 37,562 SH   OTR 1 37,562 0 0
CHASE ORD COM 16150R104 1,156 11,314 SH   OTR 2 11,314 0 0
CONCRETE PUMPING HOLDINGS ORD COM 206704108 11,687 1,368,540 SH   SOLE   414,905 0 953,635
CONCRETE PUMPING HOLDINGS ORD COM 206704108 3,514 411,419 SH   OTR 1 411,419 0 0
CONCRETE PUMPING HOLDINGS ORD COM 206704108 1,445 169,157 SH   OTR 2 169,157 0 0
DOLLAR GENERAL ORD COM 256677105 17,415 82,090 SH   SOLE   82,090 0 0
EPLUS ORD COM 294268107 30,308 295,366 SH   SOLE   225,737 0 69,629
EPLUS ORD COM 294268107 3,166 30,851 SH   OTR 1 30,851 0 0
EPLUS ORD COM 294268107 1,494 14,563 SH   OTR 2 14,563 0 0
FIRSTSERVICE SUB VTG ORD COM 33767E202 18,689 103,550 SH   SOLE   18,580 0 84,970
FIRSTSERVICE SUB VTG ORD COM 33767E202 5,626 31,175 SH   OTR 1 31,175 0 0
HACKETT GROUP ORD COM 404609109 12,573 640,803 SH   SOLE   188,867 0 451,936
HACKETT GROUP ORD COM 404609109 3,780 192,639 SH   OTR 1 192,639 0 0
HACKETT GROUP ORD COM 404609109 1,448 73,786 SH   OTR 2 73,786 0 0
IES ORD COM 44951W106 15,700 343,611 SH   SOLE   95,267 0 248,344
IES ORD COM 44951W106 4,726 103,435 SH   OTR 1 103,435 0 0
IES ORD COM 44951W106 1,536 33,625 SH   OTR 2 33,625 0 0
MARRIOTT INTERNATIONAL CL A ORD COM 571903202 20,878 140,980 SH   SOLE   140,980 0 0
MUELLER INDUSTRIES ORD COM 624756102 13,994 340,489 SH   SOLE   61,121 0 279,368
MUELLER INDUSTRIES ORD COM 624756102 4,211 102,469 SH   OTR 1 102,469 0 0
NVR ORD COM 62944T105 16,779 3,500 SH   SOLE   3,500 0 0
NOMAD FOODS ORD COM G6564A105 40,168 1,457,468 SH   SOLE   989,300 0 468,168
NOMAD FOODS ORD COM G6564A105 4,733 171,725 SH   OTR 1 171,725 0 0
NORTHRIM BANCORP ORD COM 666762109 11,292 265,628 SH   SOLE   78,526 0 187,102
NORTHRIM BANCORP ORD COM 666762109 3,399 79,959 SH   OTR 1 79,959 0 0
NORTHRIM BANCORP ORD COM 666762109 1,312 30,872 SH   OTR 2 30,872 0 0
OCEAN BIO CHEM ORD COM 674631106 1,219 129,416 SH   OTR 2 129,416 0 0
PALANTIR TECHNOLOGIES CL A ORD COM 69608A108 19,116 795,160 SH   SOLE   795,160 0 0
PAR PACIFIC HOLDINGS ORD COM 69888T207 849 54,034 SH   OTR 2 54,034 0 0
QAD CL A ORD COM 74727D306 33,946 388,437 SH   SOLE   218,808 0 169,629
QAD CL A ORD COM 74727D306 6,407 73,319 SH   OTR 1 73,319 0 0
QAD CL A ORD COM 74727D306 1,248 14,286 SH   OTR 2 14,286 0 0
SAFETY INSURANCE GROUP ORD COM 78648T100 12,396 156,420 SH   SOLE   28,090 0 128,330
SAFETY INSURANCE GROUP ORD COM 78648T100 3,726 47,022 SH   OTR 1 47,022 0 0
SIGA TECHNOLOGIES ORD COM 826917106 13,324 1,803,014 SH   SOLE   479,514 0 1,323,500
SIGA TECHNOLOGIES ORD COM 826917106 4,005 542,010 SH   OTR 1 542,010 0 0
SIGA TECHNOLOGIES ORD COM 826917106 1,151 155,752 SH   OTR 2 155,752 0 0
STEWART INFO SVC ORD COM 860372101 778 12,299 SH   OTR 2 12,299 0 0
STONEX GROUP ORD COM 861896108 43,964 667,134 SH   SOLE   464,530 0 202,604
STONEX GROUP ORD COM 861896108 4,897 74,317 SH   OTR 1 74,317 0 0
SUNSTONE HOTEL INVESTORS REIT ORD COM 867892101 14,976 1,254,306 SH   SOLE   225,020 0 1,029,286
SUNSTONE HOTEL INVESTORS REIT ORD COM 867892101 4,508 377,541 SH   OTR 1 377,541 0 0
UFP TECHNOLOGIES ORD COM 902673102 17,129 278,111 SH   SOLE   77,547 0 200,564
UFP TECHNOLOGIES ORD COM 902673102 5,152 83,653 SH   OTR 1 83,653 0 0
UFP TECHNOLOGIES ORD COM 902673102 1,698 27,567 SH   OTR 2 27,567 0 0
UNITEDHEALTH GRP ORD COM 91324P102 20,666 52,890 SH   SOLE   52,890 0 0
VILLAGE SUPER MARKET CL A ORD COM 927107409 986 45,495 SH   OTR 2 45,495 0 0
WINMARK ORD COM 974250102 10,047 46,725 SH   SOLE   14,471 0 32,254
WINMARK ORD COM 974250102 3,019 14,042 SH   OTR 1 14,042 0 0
WINMARK ORD COM 974250102 1,308 6,084 SH   OTR 2 6,084 0 0