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      <invstOrSec>
        <name>Alimera Sciences Inc</name>
        <lei>5299005C650OO6FJ1R63</lei>
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          <isin value="US0162592028"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Perma-Pipe International Holdi</name>
        <lei>549300QBMR25XXRKXK93</lei>
        <title>Perma-Pipe International Holdings Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Exterran Corp</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Big 5 Sporting Goods Corp</name>
        <lei>529900BFAM7VKQMKUC49</lei>
        <title>Big 5 Sporting Goods Corp</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Exagen Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Investcorp Credit Management B</name>
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          <isin value="US46090R1041"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Harrow Health Inc</name>
        <lei>N/A</lei>
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          <isin value="US4158581094"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ramaco Resources Inc</name>
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        <title>Ramaco Resources Inc</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PRGX Global Inc</name>
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        <title>PRGX Global Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mastech Digital Inc</name>
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        <title>Mastech Digital Inc</title>
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          <isin value="US57633B1008"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GEE Group Inc</name>
        <lei>549300FHWV21VESO1Y46</lei>
        <title>GEE Group Inc</title>
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          <isin value="US36165A1025"/>
          <ticker value="JOB"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Fidelity Government Portfolio</name>
        <lei>N/A</lei>
        <title>Fidelity Government Portfolio</title>
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          <isin value="US3161751082"/>
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        <assetCat>STIV</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>TimkenSteel Corp</name>
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        <title>TimkenSteel Corp</title>
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        <fairValLevel>1</fairValLevel>
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        <name>AstroNova Inc</name>
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        <name>Creative Realities Inc</name>
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        <name>Quest Resource Holding Corp</name>
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        <title>Quest Resource Holding Corp</title>
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        <name>Mannatech Inc</name>
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        <name>Cohen &amp; Co Inc</name>
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        <name>DHI Group Inc</name>
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        <name>American Shared Hospital Servi</name>
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        <title>American Shared Hospital Services</title>
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        <name>WidePoint Corp</name>
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        <title>WidePoint Corp</title>
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        <name>NetSol Technologies Inc</name>
        <lei>529900EXOTPTUR7O6B54</lei>
        <title>NetSol Technologies Inc</title>
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        <name>Mammoth Energy Services Inc</name>
        <lei>549300ODHHN3MGXCQ803</lei>
        <title>Mammoth Energy Services Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Pzena Investment Management In</name>
        <lei>77FR8E97WY61TIP8ID10</lei>
        <title>Pzena Investment Management Inc</title>
        <cusip>74731Q103</cusip>
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      <invstOrSec>
        <name>RCM Technologies Inc</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Crown Crafts Inc</name>
        <lei>N/A</lei>
        <title>Crown Crafts Inc</title>
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          <isin value="US2283091005"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AMCON Distributing Co</name>
        <lei>N/A</lei>
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          <isin value="US02341Q2057"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Schmitt Industries Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Tel-Instrument Electronics Cor</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Core Molding Technologies Inc</name>
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          <isin value="US2186831002"/>
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      <invstOrSec>
        <name>FlexShopper Inc</name>
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      <invstOrSec>
        <name>Sesen Bio Inc</name>
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        <name>Hovnanian Enterprises Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>RF Industries Ltd</name>
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      <invstOrSec>
        <name>Aemetis Inc</name>
        <lei>254900DQF4U5U9W7AR72</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>National Holdings Corp</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Synacor Inc</name>
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        <name>ARC Document Solutions Inc</name>
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        <name>Harvard Bioscience Inc</name>
        <lei>549300VLGB1D47GGC642</lei>
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        <name>Enzo Biochem Inc</name>
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        <name>Ocean Bio-Chem Inc</name>
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        <name>Dixie Group Inc/The</name>
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        <name>Minerva Neurosciences Inc</name>
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        <name>Rocky Brands Inc</name>
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        <name>Orion Energy Systems Inc</name>
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        <name>Lincoln Educational Services C</name>
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        <name>Sonoma Pharmaceuticals Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Alaska Communications Systems</name>
        <lei>5493007NQ48764MYK786</lei>
        <title>Alaska Communications Systems Group Inc</title>
        <cusip>01167P101</cusip>
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          <isin value="US01167P1012"/>
          <ticker value="ALSK"/>
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        <balance>294800.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1087812.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Navios Maritime Holdings Inc</name>
        <lei>549300S82W3QK11L1415</lei>
        <title>Navios Maritime Holdings Inc</title>
        <cusip>000000000</cusip>
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          <isin value="MHY621971198"/>
          <ticker value="NM"/>
          <other otherDesc="SEDOL" value="BJ1PZK1"/>
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        <balance>21300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>47925.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Broadwind Inc</name>
        <lei>529900ATI5MMWNW41F84</lei>
        <title>Broadwind Inc</title>
        <cusip>11161T207</cusip>
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          <isin value="US11161T2078"/>
          <ticker value="BWEN"/>
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        <balance>289100.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2292563.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Educational Development Corp</name>
        <lei>N/A</lei>
        <title>Educational Development Corp</title>
        <cusip>281479105</cusip>
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          <isin value="US2814791057"/>
          <ticker value="EDUC"/>
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        <balance>72100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1107456.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mayville Engineering Co Inc</name>
        <lei>N/A</lei>
        <title>Mayville Engineering Co Inc</title>
        <cusip>578605107</cusip>
        <identifiers>
          <isin value="US5786051079"/>
          <ticker value="MEC"/>
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        <balance>3700.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>49654.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kewaunee Scientific Corp</name>
        <lei>549300Z8MHH8NUYXQ229</lei>
        <title>Kewaunee Scientific Corp</title>
        <cusip>492854104</cusip>
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          <isin value="US4928541048"/>
          <ticker value="KEQU"/>
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        <balance>16100.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>203021.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Entravision Communications Cor</name>
        <lei>549300SKHY2ALCLKV539</lei>
        <title>Entravision Communications Corp</title>
        <cusip>29382R107</cusip>
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          <isin value="US29382R1077"/>
          <ticker value="EVC"/>
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        <balance>101100.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>278025.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Performant Financial Corp</name>
        <lei>N/A</lei>
        <title>Performant Financial Corp</title>
        <cusip>71377E105</cusip>
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          <isin value="US71377E1055"/>
          <ticker value="PFMT"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>44050.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lakeland Industries Inc</name>
        <lei>549300HGP70IM9WKU164</lei>
        <title>Lakeland Industries Inc</title>
        <cusip>511795106</cusip>
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          <isin value="US5117951062"/>
          <ticker value="LAKE"/>
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        <balance>41200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1122700.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Daktronics Inc</name>
        <lei>549300IOLZ3SG5YUJ288</lei>
        <title>Daktronics Inc</title>
        <cusip>234264109</cusip>
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          <isin value="US2342641097"/>
          <ticker value="DAKT"/>
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        <balance>34400.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>160992.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cinedigm Corp</name>
        <lei>549300QPGXUR8OY7KD24</lei>
        <title>Cinedigm Corp</title>
        <cusip>172406209</cusip>
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          <isin value="US1724062096"/>
          <ticker value="CIDM"/>
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        <balance>137000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Natural Alternatives Internati</name>
        <lei>549300QOT5V1NZ8WZY48</lei>
        <title>Natural Alternatives International Inc</title>
        <cusip>638842302</cusip>
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          <isin value="US6388423021"/>
          <ticker value="NAII"/>
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        <balance>21500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>224030.00000000</valUSD>
        <pctVal>0.282923557553</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Northeast Bank</name>
        <lei>549300F0LV9TSW34E306</lei>
        <title>Northeast Bank</title>
        <cusip>66405S100</cusip>
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          <isin value="US66405S1006"/>
          <ticker value="NBN"/>
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        <balance>19700.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>443644.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Southwestern Energy Co</name>
        <lei>EFWMP121W54QV9MGOP87</lei>
        <title>Southwestern Energy Co</title>
        <cusip>845467109</cusip>
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          <isin value="US8454671095"/>
          <ticker value="SWN"/>
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        <balance>1.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Navidea Biopharmaceuticals Inc</name>
        <lei>549300HXUMV6VNCPEE05</lei>
        <title>Navidea Biopharmaceuticals Inc</title>
        <cusip>63937X202</cusip>
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          <isin value="US63937X2027"/>
          <ticker value="NAVB"/>
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        <balance>39940.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>85871.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Superior Drilling Products Inc</name>
        <lei>549300B6GMFCER6WX167</lei>
        <title>Superior Drilling Products Inc</title>
        <cusip>868153107</cusip>
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          <isin value="US8681531070"/>
          <ticker value="SDPI"/>
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        <balance>122800.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Salem Media Group Inc</name>
        <lei>549300CTHBTS2MIXZL54</lei>
        <title>Salem Media Group Inc</title>
        <cusip>794093104</cusip>
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          <isin value="US7940931048"/>
          <ticker value="SALM"/>
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        <balance>128000.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>IntriCon Corp</name>
        <lei>549300QOZJC6ZFWND923</lei>
        <title>IntriCon Corp</title>
        <cusip>46121H109</cusip>
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          <isin value="US46121H1095"/>
          <ticker value="IIN"/>
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        <balance>40900.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Orion Group Holdings Inc</name>
        <lei>549300KBVXPV9Q3CT222</lei>
        <title>Orion Group Holdings Inc</title>
        <cusip>68628V308</cusip>
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          <isin value="US68628V3087"/>
          <ticker value="ORN"/>
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        <balance>110100.00000000</balance>
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        <valUSD>546096.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>MicroVision Inc</name>
        <lei>5299001A8NIHHA9KOY43</lei>
        <title>MicroVision Inc</title>
        <cusip>594960304</cusip>
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          <ticker value="MVIS"/>
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        <balance>68900.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Portman Ridge Finance Corp</name>
        <lei>254900YM5BVQKA01I468</lei>
        <title>Portman Ridge Finance Corp</title>
        <cusip>73688F102</cusip>
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          <isin value="US73688F1021"/>
          <ticker value="PTMN"/>
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        <balance>21600.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>FG Financial Group Inc</name>
        <lei>5493001DHQMKB451K463</lei>
        <title>FG Financial Group Inc</title>
        <cusip>30259W104</cusip>
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          <isin value="US30259W1045"/>
          <ticker value="FGF"/>
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        <balance>7800.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>32916.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>LS Starrett Co/The</name>
        <lei>N/A</lei>
        <title>LS Starrett Co/The</title>
        <cusip>855668109</cusip>
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          <isin value="US8556681091"/>
          <ticker value="SCX"/>
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        <balance>32300.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>136629.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Charles &amp; Colvard Ltd</name>
        <lei>N/A</lei>
        <title>Charles &amp; Colvard Ltd</title>
        <cusip>159765106</cusip>
        <identifiers>
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          <ticker value="CTHR"/>
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        <balance>298600.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>367278.00000000</valUSD>
        <pctVal>0.463828944209</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ampco-Pittsburgh Corp</name>
        <lei>N/A</lei>
        <title>Ampco-Pittsburgh Corp</title>
        <cusip>032037103</cusip>
        <identifiers>
          <isin value="US0320371034"/>
          <ticker value="AP"/>
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        <balance>33600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>184128.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BG Staffing Inc</name>
        <lei>549300AUC6I9ZG3KKQ91</lei>
        <title>BG Staffing Inc</title>
        <cusip>05544A109</cusip>
        <identifiers>
          <isin value="US05544A1097"/>
          <ticker value="BGSF"/>
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        <balance>14700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>198303.00000000</valUSD>
        <pctVal>0.250433380500</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>inTEST Corp</name>
        <lei>N/A</lei>
        <title>inTEST Corp</title>
        <cusip>461147100</cusip>
        <identifiers>
          <isin value="US4611471008"/>
          <ticker value="INTT"/>
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        <balance>213400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1384944.66000000</valUSD>
        <pctVal>1.749022319432</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Goodrich Petroleum Corp</name>
        <lei>5493000G2GU65EVWSF15</lei>
        <title>Goodrich Petroleum Corp</title>
        <cusip>382410843</cusip>
        <identifiers>
          <isin value="US3824108431"/>
          <ticker value="GDP"/>
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        <balance>14200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>143278.00000000</valUSD>
        <pctVal>0.180943273129</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Container Store Group Inc/The</name>
        <lei>529900L7KB2N9KXCDI76</lei>
        <title>Container Store Group Inc/The</title>
        <cusip>210751103</cusip>
        <identifiers>
          <isin value="US2107511030"/>
          <ticker value="TCS"/>
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        <balance>43200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>412128.00000000</valUSD>
        <pctVal>0.520469222548</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Comstock Holding Cos Inc</name>
        <lei>549300PHU1FSZ2GXMI11</lei>
        <title>Comstock Holding Cos Inc</title>
        <cusip>205684202</cusip>
        <identifiers>
          <isin value="US2056842022"/>
          <ticker value="CHCI"/>
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        <balance>22200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>70374.00000000</valUSD>
        <pctVal>0.088874090252</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="4399.96000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Infinity Pharmaceuticals Inc</name>
        <lei>529900A03D1G15M8WM72</lei>
        <title>Infinity Pharmaceuticals Inc</title>
        <cusip>45665G303</cusip>
        <identifiers>
          <isin value="US45665G3039"/>
          <ticker value="INFI"/>
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        <balance>70300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>149036.00000000</valUSD>
        <pctVal>0.188214950335</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sierra Oncology Inc</name>
        <lei>549300NG7694ZK6OVC92</lei>
        <title>Sierra Oncology Inc</title>
        <cusip>82640U404</cusip>
        <identifiers>
          <isin value="US82640U4040"/>
          <ticker value="SRRA"/>
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        <balance>4700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>75341.00000000</valUSD>
        <pctVal>0.095146827432</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="17633.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Carver Bancorp Inc</name>
        <lei>N/A</lei>
        <title>Carver Bancorp Inc</title>
        <cusip>146875604</cusip>
        <identifiers>
          <isin value="US1468756044"/>
          <ticker value="CARV"/>
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        <balance>146500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>950785.00000000</valUSD>
        <pctVal>1.200729699900</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="3894.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Gogo Inc</name>
        <lei>549300VL3DIHSFHYTO04</lei>
        <title>Gogo Inc</title>
        <cusip>38046C109</cusip>
        <identifiers>
          <isin value="US38046C1099"/>
          <ticker value="GOGO"/>
        </identifiers>
        <balance>31200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>300456.00000000</valUSD>
        <pctVal>0.379440612455</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="300456.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Assertio Holdings Inc</name>
        <lei>N/A</lei>
        <title>Assertio Holdings Inc</title>
        <cusip>04546C106</cusip>
        <identifiers>
          <isin value="US04546C1062"/>
          <ticker value="ASRT"/>
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        <balance>160000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>57216.00000000</valUSD>
        <pctVal>0.072257082841</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gulf Resources Inc</name>
        <lei>N/A</lei>
        <title>Gulf Resources Inc</title>
        <cusip>40251W408</cusip>
        <identifiers>
          <isin value="US40251W4087"/>
          <ticker value="GURE"/>
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        <balance>107360.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>440176.00000000</valUSD>
        <pctVal>0.555890549791</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Manning &amp; Napier Inc</name>
        <lei>N/A</lei>
        <title>Manning &amp; Napier Inc</title>
        <cusip>56382Q102</cusip>
        <identifiers>
          <isin value="US56382Q1022"/>
          <ticker value="MN"/>
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        <balance>233800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1465926.00000000</valUSD>
        <pctVal>1.851292233319</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Quad/Graphics Inc</name>
        <lei>W2D68G5NJH4X0NW8PT65</lei>
        <title>Quad/Graphics Inc</title>
        <cusip>747301109</cusip>
        <identifiers>
          <isin value="US7473011093"/>
          <ticker value="QUAD"/>
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        <balance>99675.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>380758.50000000</valUSD>
        <pctVal>0.480853231213</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Blonder Tongue Laboratories In</name>
        <lei>N/A</lei>
        <title>Blonder Tongue Laboratories Inc</title>
        <cusip>093698108</cusip>
        <identifiers>
          <isin value="US0936981085"/>
          <ticker value="BDR"/>
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        <balance>290100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>385833.00000000</valUSD>
        <pctVal>0.487261728258</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="5719.00000000"/>
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      <invstOrSec>
        <name>AgroFresh Solutions Inc</name>
        <lei>549300SBHHYUXDIB7F37</lei>
        <title>AgroFresh Solutions Inc</title>
        <cusip>00856G109</cusip>
        <identifiers>
          <isin value="US00856G1094"/>
          <ticker value="AGFS"/>
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        <balance>35100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>79677.00000000</valUSD>
        <pctVal>0.100622685779</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Chemung Financial Corp</name>
        <lei>N/A</lei>
        <title>Chemung Financial Corp</title>
        <cusip>164024101</cusip>
        <identifiers>
          <isin value="US1640241014"/>
          <ticker value="CHMG"/>
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        <balance>2500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>84875.00000000</valUSD>
        <pctVal>0.107187148807</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>QEP Resources Inc</name>
        <lei>Q6JQDZPXKEDQKVK58165</lei>
        <title>QEP Resources Inc</title>
        <cusip>74733V100</cusip>
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          <isin value="US74733V1008"/>
          <ticker value="QEP"/>
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        <balance>280000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>669200.00000000</valUSD>
        <pctVal>0.845120942351</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SunLink Health Systems Inc</name>
        <lei>N/A</lei>
        <title>SunLink Health Systems Inc</title>
        <cusip>86737U102</cusip>
        <identifiers>
          <isin value="US86737U1025"/>
          <ticker value="SSY"/>
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        <balance>4700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5969.00000000</valUSD>
        <pctVal>0.007538145404</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Universal Security Instruments</name>
        <lei>N/A</lei>
        <title>Universal Security Instruments Inc</title>
        <cusip>913821302</cusip>
        <identifiers>
          <isin value="US9138213023"/>
          <ticker value="UUU"/>
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        <balance>110500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>553605.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="49098.00000000"/>
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      <invstOrSec>
        <name>OP Bancorp</name>
        <lei>549300LTYZMS0Q13U522</lei>
        <title>OP Bancorp</title>
        <cusip>67109R109</cusip>
        <identifiers>
          <isin value="US67109R1095"/>
          <ticker value="OPBK"/>
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        <balance>12000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>92400.00000000</valUSD>
        <pctVal>0.116690339320</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TETRA Technologies Inc</name>
        <lei>549300T5W131705EK832</lei>
        <title>TETRA Technologies Inc</title>
        <cusip>88162F105</cusip>
        <identifiers>
          <isin value="US88162F1057"/>
          <ticker value="TTI"/>
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        <balance>245000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>211067.50000000</valUSD>
        <pctVal>0.266553443663</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ampio Pharmaceuticals Inc</name>
        <lei>529900DG3YQA5XIHV057</lei>
        <title>Ampio Pharmaceuticals Inc</title>
        <cusip>03209T109</cusip>
        <identifiers>
          <isin value="US03209T1097"/>
          <ticker value="AMPE"/>
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        <balance>415000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>659850.00000000</valUSD>
        <pctVal>0.833312991348</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="659850.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Team Inc</name>
        <lei>549300DEKHQ3OEQJWU96</lei>
        <title>Team Inc</title>
        <cusip>878155100</cusip>
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          <ticker value="TISI"/>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Palatin Technologies Inc</name>
        <lei>549300IDN7TWMQI0JP93</lei>
        <title>Palatin Technologies Inc</title>
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          <isin value="US6960774031"/>
          <ticker value="PTN"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Ashford Inc</name>
        <lei>N/A</lei>
        <title>Ashford Inc</title>
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          <isin value="US0441041078"/>
          <ticker value="AINC"/>
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        <balance>12300.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Summer Infant Inc</name>
        <lei>N/A</lei>
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          <isin value="US8656463010"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Townsquare Media Inc</name>
        <lei>549300XBA8C68H0DR538</lei>
        <title>Townsquare Media Inc</title>
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          <isin value="US8922311019"/>
          <ticker value="TSQ"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bassett Furniture Industries I</name>
        <lei>N/A</lei>
        <title>Bassett Furniture Industries Inc</title>
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          <isin value="US0702031040"/>
          <ticker value="BSET"/>
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        <balance>40600.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EyePoint Pharmaceuticals Inc</name>
        <lei>549300QE1RU34T50MR69</lei>
        <title>EyePoint Pharmaceuticals Inc</title>
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          <isin value="US30233G2093"/>
          <ticker value="EYPT"/>
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        <balance>13000.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>cbdMD Inc</name>
        <lei>N/A</lei>
        <title>cbdMD Inc</title>
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          <isin value="US12482W1018"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fuel Tech Inc</name>
        <lei>N/A</lei>
        <title>Fuel Tech Inc</title>
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          <isin value="US3595231073"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Information Services Group Inc</name>
        <lei>549300ZUNI6DQ0G8Q273</lei>
        <title>Information Services Group Inc</title>
        <cusip>45675Y104</cusip>
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          <isin value="US45675Y1047"/>
          <ticker value="III"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Consumer Portfolio Services In</name>
        <lei>N/A</lei>
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          <isin value="US2105021008"/>
          <ticker value="CPSS"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Vince Holding Corp</name>
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        <title>Vince Holding Corp</title>
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          <ticker value="VNCE"/>
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        <balance>26200.00000000</balance>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ENGlobal Corp</name>
        <lei>N/A</lei>
        <title>ENGlobal Corp</title>
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          <isin value="US2933061069"/>
          <ticker value="ENG"/>
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        <balance>78700.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Retractable Technologies Inc</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Neuronetics Inc</name>
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        <title>Neuronetics Inc</title>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>First Guaranty Bancshares Inc</name>
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          <ticker value="FGBI"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>SB Financial Group Inc</name>
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        <title>SB Financial Group Inc</title>
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          <ticker value="SBFG"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Ocwen Financial Corp</name>
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        <title>Ocwen Financial Corp</title>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Taitron Components Inc</name>
        <lei>N/A</lei>
        <title>Taitron Components Inc</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CF Bankshares Inc</name>
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        <title>CF Bankshares Inc</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Amplify Energy Corp</name>
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        <title>Amplify Energy Corp</title>
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          <ticker value="AMPY"/>
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        <name>Intevac Inc</name>
        <lei>N/A</lei>
        <title>Intevac Inc</title>
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          <ticker value="IVAC"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Elevate Credit Inc</name>
        <lei>5493005YGC28MJELZ875</lei>
        <title>Elevate Credit Inc</title>
        <cusip>28621V101</cusip>
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          <ticker value="ELVT"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bank7 Corp</name>
        <lei>N/A</lei>
        <title>Bank7 Corp</title>
        <cusip>06652N107</cusip>
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          <ticker value="BSVN"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Conformis Inc</name>
        <lei>N/A</lei>
        <title>Conformis Inc</title>
        <cusip>20717E101</cusip>
        <identifiers>
          <isin value="US20717E1010"/>
          <ticker value="CFMS"/>
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        <balance>145000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>95700.00000000</valUSD>
        <pctVal>0.120857851439</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Friedman Industries Inc</name>
        <lei>N/A</lei>
        <title>Friedman Industries Inc</title>
        <cusip>358435105</cusip>
        <identifiers>
          <isin value="US3584351056"/>
          <ticker value="FRD"/>
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        <balance>71800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>492548.00000000</valUSD>
        <pctVal>0.622030229996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hamilton Beach Brands Holding</name>
        <lei>N/A</lei>
        <title>Hamilton Beach Brands Holding Co</title>
        <cusip>40701T104</cusip>
        <identifiers>
          <isin value="US40701T1043"/>
          <ticker value="HBB"/>
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        <balance>1400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24514.00000000</valUSD>
        <pctVal>0.030958300628</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Randolph Bancorp Inc</name>
        <lei>549300DO98QGL5P82192</lei>
        <title>Randolph Bancorp Inc</title>
        <cusip>752378109</cusip>
        <identifiers>
          <isin value="US7523781091"/>
          <ticker value="RNDB"/>
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        <balance>3600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>79416.00000000</valUSD>
        <pctVal>0.100293073457</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Gran Tierra Energy Inc</name>
        <lei>549300IH2S17MAIUCM32</lei>
        <title>Gran Tierra Energy Inc</title>
        <cusip>38500T101</cusip>
        <identifiers>
          <isin value="US38500T1016"/>
          <ticker value="GTE"/>
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        <balance>337000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>122600.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Cumulus Media Inc</name>
        <lei>N/A</lei>
        <title>Cumulus Media Inc</title>
        <cusip>231082801</cusip>
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          <isin value="US2310828015"/>
          <ticker value="CMLS"/>
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        <balance>157900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1376888.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="240672.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Hudson Technologies Inc</name>
        <lei>N/A</lei>
        <title>Hudson Technologies Inc</title>
        <cusip>444144109</cusip>
        <identifiers>
          <isin value="US4441441098"/>
          <ticker value="HDSN"/>
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        <balance>179200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>195328.00000000</valUSD>
        <pctVal>0.246676305181</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Milestone Scientific Inc</name>
        <lei>N/A</lei>
        <title>Milestone Scientific Inc</title>
        <cusip>59935P209</cusip>
        <identifiers>
          <isin value="US59935P2092"/>
          <ticker value="MLSS"/>
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        <balance>263300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>558196.00000000</valUSD>
        <pctVal>0.704935937741</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="419550.12000000"/>
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      <invstOrSec>
        <name>Centrus Energy Corp</name>
        <lei>549300G6VDK9G8276661</lei>
        <title>Centrus Energy Corp</title>
        <cusip>15643U104</cusip>
        <identifiers>
          <isin value="US15643U1043"/>
          <ticker value="LEU"/>
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        <balance>34000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>786420.00000000</valUSD>
        <pctVal>0.993156024333</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="786420.00000000"/>
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      <invstOrSec>
        <name>Cumberland Pharmaceuticals Inc</name>
        <lei>N/A</lei>
        <title>Cumberland Pharmaceuticals Inc</title>
        <cusip>230770109</cusip>
        <identifiers>
          <isin value="US2307701092"/>
          <ticker value="CPIX"/>
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        <balance>16400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>48216.00000000</valUSD>
        <pctVal>0.060891140699</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Richmond Mutual BanCorp Inc</name>
        <lei>N/A</lei>
        <title>Richmond Mutual BanCorp Inc</title>
        <cusip>76525P100</cusip>
        <identifiers>
          <isin value="US76525P1003"/>
          <ticker value="RMBI"/>
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        <balance>2800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>38248.00000000</valUSD>
        <pctVal>0.048302728336</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Eagle Bancorp Montana Inc</name>
        <lei>549300P2SVRIY3YU1412</lei>
        <title>Eagle Bancorp Montana Inc</title>
        <cusip>26942G100</cusip>
        <identifiers>
          <isin value="US26942G1004"/>
          <ticker value="EBMT"/>
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        <balance>4300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>91246.00000000</valUSD>
        <pctVal>0.115232972961</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Transcat Inc</name>
        <lei>54930081E40TSSHUOS40</lei>
        <title>Transcat Inc</title>
        <cusip>893529107</cusip>
        <identifiers>
          <isin value="US8935291075"/>
          <ticker value="TRNS"/>
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        <balance>1046.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>36275.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Lifeway Foods Inc</name>
        <lei>N/A</lei>
        <title>Lifeway Foods Inc</title>
        <cusip>531914109</cusip>
        <identifiers>
          <isin value="US5319141090"/>
          <ticker value="LWAY"/>
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        <balance>41700.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>225597.00000000</valUSD>
        <pctVal>0.284902494368</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>IRIDEX Corp</name>
        <lei>N/A</lei>
        <title>IRIDEX Corp</title>
        <cusip>462684101</cusip>
        <identifiers>
          <isin value="US4626841013"/>
          <ticker value="IRIX"/>
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        <balance>20900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>52459.00000000</valUSD>
        <pctVal>0.066249550978</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Smart Sand Inc</name>
        <lei>549300JISW1T66DVOK23</lei>
        <title>Smart Sand Inc</title>
        <cusip>83191H107</cusip>
        <identifiers>
          <isin value="US83191H1077"/>
          <ticker value="SND"/>
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        <balance>294437.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>506431.64000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Computer Task Group Inc</name>
        <lei>N/A</lei>
        <title>Computer Task Group Inc</title>
        <cusip>205477102</cusip>
        <identifiers>
          <isin value="US2054771025"/>
          <ticker value="CTG"/>
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        <balance>7700.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>47124.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Volt Information Sciences Inc</name>
        <lei>549300OQF9EZM81BDQ04</lei>
        <title>Volt Information Sciences Inc</title>
        <cusip>928703107</cusip>
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          <isin value="US9287031077"/>
          <ticker value="VOLT"/>
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        <balance>77700.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>137529.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AmeriServ Financial Inc</name>
        <lei>N/A</lei>
        <title>AmeriServ Financial Inc</title>
        <cusip>03074A102</cusip>
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          <isin value="US03074A1025"/>
          <ticker value="ASRV"/>
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        <balance>11600.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Griffin Industrial Realty Inc</name>
        <lei>549300R8UPDF52PO7C86</lei>
        <title>Griffin Industrial Realty Inc</title>
        <cusip>398231100</cusip>
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          <isin value="US3982311009"/>
          <ticker value="GRIF"/>
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        <balance>500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>31250.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SilverBow Resources Inc</name>
        <lei>5493007QR70AVQSNF619</lei>
        <title>SilverBow Resources Inc</title>
        <cusip>82836G102</cusip>
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          <isin value="US82836G1022"/>
          <ticker value="SBOW"/>
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        <balance>145951.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>774999.81000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Marlin Business Services Corp</name>
        <lei>N/A</lei>
        <title>Marlin Business Services Corp</title>
        <cusip>571157106</cusip>
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          <isin value="US5711571068"/>
          <ticker value="MRLN"/>
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        <balance>61543.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Virco Mfg. Corp</name>
        <lei>N/A</lei>
        <title>Virco Mfg. Corp</title>
        <cusip>927651109</cusip>
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          <isin value="US9276511097"/>
          <ticker value="VIRC"/>
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        <balance>17600.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>44528.00000000</valUSD>
        <pctVal>0.056233630186</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TESSCO Technologies Inc</name>
        <lei>254900BNVQFBKCIOE491</lei>
        <title>TESSCO Technologies Inc</title>
        <cusip>872386107</cusip>
        <identifiers>
          <isin value="US8723861071"/>
          <ticker value="TESS"/>
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        <balance>45130.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>281611.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TransAct Technologies Inc</name>
        <lei>N/A</lei>
        <title>TransAct Technologies Inc</title>
        <cusip>892918103</cusip>
        <identifiers>
          <isin value="US8929181035"/>
          <ticker value="TACT"/>
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        <balance>43500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>308850.00000000</valUSD>
        <pctVal>0.390041247826</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Farmer Bros Co</name>
        <lei>5493006PMLETBTVJ3262</lei>
        <title>Farmer Bros Co</title>
        <cusip>307675108</cusip>
        <identifiers>
          <isin value="US3076751086"/>
          <ticker value="FARM"/>
        </identifiers>
        <balance>36600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>170922.00000000</valUSD>
        <pctVal>0.215854395858</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Atlanticus Holdings Corp</name>
        <lei>N/A</lei>
        <title>Atlanticus Holdings Corp</title>
        <cusip>04914Y102</cusip>
        <identifiers>
          <isin value="US04914Y1029"/>
          <ticker value="ATLC"/>
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        <balance>34000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>837420.00000000</valUSD>
        <pctVal>1.057563029802</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hill International Inc</name>
        <lei>N/A</lei>
        <title>Hill International Inc</title>
        <cusip>431466101</cusip>
        <identifiers>
          <isin value="US4314661012"/>
          <ticker value="HIL"/>
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        <balance>102800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>197376.00000000</valUSD>
        <pctVal>0.249262688460</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Houston Wire &amp; Cable Co</name>
        <lei>N/A</lei>
        <title>Houston Wire &amp; Cable Co</title>
        <cusip>44244K109</cusip>
        <identifiers>
          <isin value="US44244K1097"/>
          <ticker value="HWCC"/>
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        <balance>16500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>46035.00000000</valUSD>
        <pctVal>0.058136794054</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Five Star Senior Living Inc</name>
        <lei>N/A</lei>
        <title>Five Star Senior Living Inc</title>
        <cusip>33832D205</cusip>
        <identifiers>
          <isin value="US33832D2053"/>
          <ticker value="FVE"/>
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        <balance>27500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>189750.00000000</valUSD>
        <pctVal>0.239631946818</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DLH Holdings Corp</name>
        <lei>549300KRYPLQFKWVTE62</lei>
        <title>DLH Holdings Corp</title>
        <cusip>23335Q100</cusip>
        <identifiers>
          <isin value="US23335Q1004"/>
          <ticker value="DLHC"/>
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        <balance>16100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>150052.00000000</valUSD>
        <pctVal>0.189498038914</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>One Stop Systems Inc</name>
        <lei>549300JIBHBZNCC8X044</lei>
        <title>One Stop Systems Inc</title>
        <cusip>68247W109</cusip>
        <identifiers>
          <isin value="US68247W1099"/>
          <ticker value="OSS"/>
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        <balance>29000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>116000.00000000</valUSD>
        <pctVal>0.146494365380</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="113600.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Conn's Inc</name>
        <lei>529900K9HOACKOJJT953</lei>
        <title>Conn's Inc</title>
        <cusip>208242107</cusip>
        <identifiers>
          <isin value="US2082421072"/>
          <ticker value="CONN"/>
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        <balance>89800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1049762.00000000</valUSD>
        <pctVal>1.325726017162</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Timber Pharmaceuticals Inc</name>
        <lei>549300XJOCZVH8YKFO07</lei>
        <title>Timber Pharmaceuticals Inc</title>
        <cusip>887080109</cusip>
        <identifiers>
          <isin value="US8870801094"/>
          <ticker value="TMBR"/>
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        <balance>107800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>80095.40000000</valUSD>
        <pctVal>0.101151075800</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="54839.34400000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Acme United Corp</name>
        <lei>549300NVT8NN13WP8M83</lei>
        <title>Acme United Corp</title>
        <cusip>004816104</cusip>
        <identifiers>
          <isin value="US0048161048"/>
          <ticker value="ACU"/>
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        <balance>22800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>686964.00000000</valUSD>
        <pctVal>0.867554786374</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Pro-Dex Inc</name>
        <lei>529900EB2AJA079NT411</lei>
        <title>Pro-Dex Inc</title>
        <cusip>74265M205</cusip>
        <identifiers>
          <isin value="US74265M2052"/>
          <ticker value="PDEX"/>
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        <balance>1700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>52649.00000000</valUSD>
        <pctVal>0.066489498645</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LSI Industries Inc</name>
        <lei>529900HY42OANH6BVT33</lei>
        <title>LSI Industries Inc</title>
        <cusip>50216C108</cusip>
        <identifiers>
          <isin value="US50216C1080"/>
          <ticker value="LYTS"/>
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        <balance>177500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1519400.00000000</valUSD>
        <pctVal>1.918823609995</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CPS Technologies Corp</name>
        <lei>N/A</lei>
        <title>CPS Technologies Corp</title>
        <cusip>12619F104</cusip>
        <identifiers>
          <isin value="US12619F1049"/>
          <ticker value="CPSH"/>
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        <balance>76900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>213782.00000000</valUSD>
        <pctVal>0.269981538101</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Protalix BioTherapeutics Inc</name>
        <lei>549300SDVB3GP4XDFM60</lei>
        <title>Protalix BioTherapeutics Inc</title>
        <cusip>74365A309</cusip>
        <identifiers>
          <isin value="US74365A3095"/>
          <ticker value="PLX"/>
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        <balance>67000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>243210.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="236676.00000000"/>
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      <invstOrSec>
        <name>Apyx Medical Corp</name>
        <lei>5299009QZVYUYO082S45</lei>
        <title>Apyx Medical Corp</title>
        <cusip>03837C106</cusip>
        <identifiers>
          <isin value="US03837C1062"/>
          <ticker value="APYX"/>
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        <balance>19900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>143280.00000000</valUSD>
        <pctVal>0.180945798894</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>First United Corp</name>
        <lei>549300G54QPXQLB4KN58</lei>
        <title>First United Corp</title>
        <cusip>33741H107</cusip>
        <identifiers>
          <isin value="US33741H1077"/>
          <ticker value="FUNC"/>
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        <balance>3600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>55800.00000000</valUSD>
        <pctVal>0.070468841277</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SecureWorks Corp</name>
        <lei>N/A</lei>
        <title>SecureWorks Corp</title>
        <cusip>81374A105</cusip>
        <identifiers>
          <isin value="US81374A1051"/>
          <ticker value="SCWX"/>
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        <balance>27600.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>392472.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Communications Systems Inc</name>
        <lei>N/A</lei>
        <title>Communications Systems Inc</title>
        <cusip>203900105</cusip>
        <identifiers>
          <isin value="US2039001050"/>
          <ticker value="JCS"/>
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        <balance>105900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>483963.00000000</valUSD>
        <pctVal>0.611188384075</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>InfuSystem Holdings Inc</name>
        <lei>N/A</lei>
        <title>InfuSystem Holdings Inc</title>
        <cusip>45685K102</cusip>
        <identifiers>
          <isin value="US45685K1025"/>
          <ticker value="INFU"/>
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        <balance>76898.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1444144.44000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Lazydays Holdings Inc</name>
        <lei>5493006PPWVM3TDVJH23</lei>
        <title>Lazydays Holdings Inc</title>
        <cusip>52110H100</cusip>
        <identifiers>
          <isin value="US52110H1005"/>
          <ticker value="LAZY"/>
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        <balance>92400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1501500.00000000</valUSD>
        <pctVal>1.896218013958</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Chicago Rivet &amp; Machine Co</name>
        <lei>N/A</lei>
        <title>Chicago Rivet &amp; Machine Co</title>
        <cusip>168088102</cusip>
        <identifiers>
          <isin value="US1680881026"/>
          <ticker value="CVR"/>
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        <balance>1900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>43434.00000000</valUSD>
        <pctVal>0.054852036775</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Air Industries Group</name>
        <lei>54930028HTN6H0Z7MY07</lei>
        <title>Air Industries Group</title>
        <cusip>00912N205</cusip>
        <identifiers>
          <isin value="US00912N2053"/>
          <ticker value="AIRI"/>
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        <balance>113200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>139236.00000000</valUSD>
        <pctVal>0.175838702225</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Capitala Finance Corp</name>
        <lei>5493007DZ22O2I4VJ124</lei>
        <title>Capitala Finance Corp</title>
        <cusip>14054R502</cusip>
        <identifiers>
          <isin value="US14054R5028"/>
          <ticker value="CPTA"/>
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        <balance>61583.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>881868.56000000</valUSD>
        <pctVal>1.113696336606</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CynergisTek Inc/DE</name>
        <lei>N/A</lei>
        <title>CynergisTek Inc/DE</title>
        <cusip>23258P105</cusip>
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          <isin value="US23258P1057"/>
          <ticker value="CTEK"/>
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        <balance>86700.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GAMCO Investors Inc</name>
        <lei>51A2MDO9SJ2HTOSMLZ76</lei>
        <title>GAMCO Investors Inc</title>
        <cusip>361438104</cusip>
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          <isin value="US3614381040"/>
          <ticker value="GBL"/>
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        <balance>4200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>74508.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Strattec Security Corp</name>
        <lei>549300Z394OP8S8TSR40</lei>
        <title>Strattec Security Corp</title>
        <cusip>863111100</cusip>
        <identifiers>
          <isin value="US8631111007"/>
          <ticker value="STRT"/>
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        <balance>4700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>231992.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kingstone Cos Inc</name>
        <lei>N/A</lei>
        <title>Kingstone Cos Inc</title>
        <cusip>496719105</cusip>
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          <isin value="US4967191051"/>
          <ticker value="KINS"/>
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        <balance>16200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>107730.00000000</valUSD>
        <pctVal>0.136050327435</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Olympic Steel Inc</name>
        <lei>549300GQ061U6N6KWJ49</lei>
        <title>Olympic Steel Inc</title>
        <cusip>68162K106</cusip>
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          <isin value="US68162K1060"/>
          <ticker value="ZEUS"/>
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        <balance>95000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1266350.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Uranium Energy Corp</name>
        <lei>549300VD69WD2USLIP04</lei>
        <title>Uranium Energy Corp</title>
        <cusip>916896103</cusip>
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          <isin value="US9168961038"/>
          <ticker value="UEC"/>
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        <balance>14000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24640.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Monroe Capital Corp</name>
        <lei>549300RZ898DGFGWKV04</lei>
        <title>Monroe Capital Corp</title>
        <cusip>610335101</cusip>
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          <isin value="US6103351010"/>
          <ticker value="MRCC"/>
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        <balance>55100.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>442453.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="4015.00000000"/>
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      <invstOrSec>
        <name>Digirad Corp</name>
        <lei>549300ZB8Z6KMJ4LVV61</lei>
        <title>Digirad Corp</title>
        <cusip>253827703</cusip>
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          <isin value="US2538277037"/>
          <ticker value="DRAD"/>
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        <balance>168800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>605992.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="7589.26000000"/>
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      <invstOrSec>
        <name>Dawson Geophysical Co</name>
        <lei>549300R9G1EAMSMLXR09</lei>
        <title>Dawson Geophysical Co</title>
        <cusip>239360100</cusip>
        <identifiers>
          <isin value="US2393601008"/>
          <ticker value="DWSN"/>
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        <balance>40000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>84800.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Avalon Holdings Corp</name>
        <lei>N/A</lei>
        <title>Avalon Holdings Corp</title>
        <cusip>05343P109</cusip>
        <identifiers>
          <isin value="US05343P1093"/>
          <ticker value="AWX"/>
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        <balance>14700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>38220.00000000</valUSD>
        <pctVal>0.048267367628</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="5460.00000000"/>
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      <invstOrSec>
        <name>Aviat Networks Inc</name>
        <lei>549300Z3X8Z4MK52CI65</lei>
        <title>Aviat Networks Inc</title>
        <cusip>05366Y201</cusip>
        <identifiers>
          <isin value="US05366Y2019"/>
          <ticker value="AVNW"/>
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        <balance>40713.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1390348.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>A-Mark Precious Metals Inc</name>
        <lei>XP6XYFDZQGKLUMOFGT37</lei>
        <title>A-Mark Precious Metals Inc</title>
        <cusip>00181T107</cusip>
        <identifiers>
          <isin value="US00181T1079"/>
          <ticker value="AMRK"/>
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        <balance>39500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1013175.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Electromed Inc</name>
        <lei>N/A</lei>
        <title>Electromed Inc</title>
        <cusip>285409108</cusip>
        <identifiers>
          <isin value="US2854091087"/>
          <ticker value="ELMD"/>
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        <balance>113838.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1116750.78000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bioanalytical Systems Inc</name>
        <lei>549300FH5Z13X0Q5SK81</lei>
        <title>Bioanalytical Systems Inc</title>
        <cusip>09058M103</cusip>
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          <isin value="US09058M1036"/>
          <ticker value="BASI"/>
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        <balance>67510.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>830373.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Community West Bancshares</name>
        <lei>N/A</lei>
        <title>Community West Bancshares</title>
        <cusip>204157101</cusip>
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          <isin value="US2041571017"/>
          <ticker value="CWBC"/>
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        <balance>5000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>45400.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DIRTT Environmental Solutions</name>
        <lei>N/A</lei>
        <title>DIRTT Environmental Solutions</title>
        <cusip>25490H106</cusip>
        <identifiers>
          <isin value="CA25490H1064"/>
          <ticker value="DRTT"/>
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        <balance>86500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>213655.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PrimeEnergy Resources Corp</name>
        <lei>9QMD37QNHRX1B7685Y44</lei>
        <title>PrimeEnergy Resources Corp</title>
        <cusip>74158E104</cusip>
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          <isin value="US74158E1047"/>
          <ticker value="PNRG"/>
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        <balance>400.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17268.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Riverview Bancorp Inc</name>
        <lei>N/A</lei>
        <title>Riverview Bancorp Inc</title>
        <cusip>769397100</cusip>
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          <isin value="US7693971001"/>
          <ticker value="RVSB"/>
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        <balance>13700.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>C&amp;F Financial Corp</name>
        <lei>549300VFPAZLNS1R0361</lei>
        <title>C&amp;F Financial Corp</title>
        <cusip>12466Q104</cusip>
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          <isin value="US12466Q1040"/>
          <ticker value="CFFI"/>
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        <balance>1952.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Lineage Cell Therapeutics Inc</name>
        <lei>5299002BI4W22SDF8R25</lei>
        <title>Lineage Cell Therapeutics Inc</title>
        <cusip>53566P109</cusip>
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          <isin value="US53566P1093"/>
          <ticker value="LCTX"/>
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        <balance>166300.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MTBC Inc</name>
        <lei>549300GEO5Y45G5I3070</lei>
        <title>MTBC Inc</title>
        <cusip>55378G102</cusip>
        <identifiers>
          <isin value="US55378G1022"/>
          <ticker value="MTBC"/>
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        <balance>149400.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1355058.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Security National Financial Co</name>
        <lei>N/A</lei>
        <title>Security National Financial Corp</title>
        <cusip>814785309</cusip>
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          <isin value="US8147853092"/>
          <ticker value="SNFCA"/>
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        <balance>122677.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1024352.95000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Rockwell Medical Inc</name>
        <lei>529900Y6YUB5X93MMD77</lei>
        <title>Rockwell Medical Inc</title>
        <cusip>774374102</cusip>
        <identifiers>
          <isin value="US7743741024"/>
          <ticker value="RMTI"/>
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        <balance>111500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>112615.00000000</valUSD>
        <pctVal>0.142219508253</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Huttig Building Products Inc</name>
        <lei>529900WAHH5LR9Z8UM75</lei>
        <title>Huttig Building Products Inc</title>
        <cusip>448451104</cusip>
        <identifiers>
          <isin value="US4484511047"/>
          <ticker value="HBP"/>
        </identifiers>
        <balance>66300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>243321.00000000</valUSD>
        <pctVal>0.307285823093</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="367.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Flexible Solutions Internation</name>
        <lei>N/A</lei>
        <title>Flexible Solutions International Inc</title>
        <cusip>33938T104</cusip>
        <identifiers>
          <isin value="CA33938T1049"/>
          <ticker value="FSI"/>
        </identifiers>
        <balance>37600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>93624.00000000</valUSD>
        <pctVal>0.118236107451</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Live Ventures Inc</name>
        <lei>5493002HQW06QWT6U361</lei>
        <title>Live Ventures Inc</title>
        <cusip>538142308</cusip>
        <identifiers>
          <isin value="US5381423087"/>
          <ticker value="LIVE"/>
        </identifiers>
        <balance>7302.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>90325.74000000</valUSD>
        <pctVal>0.114070792748</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Citizens Community Bancorp Inc</name>
        <lei>N/A</lei>
        <title>Citizens Community Bancorp Inc/WI</title>
        <cusip>174903104</cusip>
        <identifiers>
          <isin value="US1749031043"/>
          <ticker value="CZWI"/>
        </identifiers>
        <balance>3300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35937.00000000</valUSD>
        <pctVal>0.045384206971</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Build-A-Bear Workshop Inc</name>
        <lei>529900S9MWZC1UBF3D13</lei>
        <title>Build-A-Bear Workshop Inc</title>
        <cusip>120076104</cusip>
        <identifiers>
          <isin value="US1200761047"/>
          <ticker value="BBW"/>
        </identifiers>
        <balance>22600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>96502.00000000</valUSD>
        <pctVal>0.121870683172</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MIND Technology Inc</name>
        <lei>N/A</lei>
        <title>MIND Technology Inc</title>
        <cusip>602566101</cusip>
        <identifiers>
          <isin value="US6025661017"/>
          <ticker value="MIND"/>
        </identifiers>
        <balance>22400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>50176.00000000</valUSD>
        <pctVal>0.063366390321</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Regional Management Corp</name>
        <lei>549300S5O87W87JW4146</lei>
        <title>Regional Management Corp</title>
        <cusip>75902K106</cusip>
        <identifiers>
          <isin value="US75902K1060"/>
          <ticker value="RM"/>
        </identifiers>
        <balance>6900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>206034.00000000</valUSD>
        <pctVal>0.260196724800</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hudson Global Inc</name>
        <lei>54930073WVI9H7ILKL69</lei>
        <title>Hudson Global Inc</title>
        <cusip>443787205</cusip>
        <identifiers>
          <isin value="US4437872058"/>
          <ticker value="HSON"/>
        </identifiers>
        <balance>2019.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21199.50000000</valUSD>
        <pctVal>0.026772476714</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VAALCO Energy Inc</name>
        <lei>549300CFHFVIWB8M6T24</lei>
        <title>VAALCO Energy Inc</title>
        <cusip>91851C201</cusip>
        <identifiers>
          <isin value="US91851C2017"/>
          <ticker value="EGY"/>
        </identifiers>
        <balance>150700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>266739.00000000</valUSD>
        <pctVal>0.336860004545</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CounterPath Corp</name>
        <lei>549300MSHK83KSD7BK48</lei>
        <title>CounterPath Corp</title>
        <cusip>22228P302</cusip>
        <identifiers>
          <isin value="US22228P3029"/>
          <ticker value="CPAH"/>
        </identifiers>
        <balance>94000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>320540.00000000</valUSD>
        <pctVal>0.404804343785</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2021-02-18</ncom:dateSigned>
      <ncom:nameOfApplicant>Bridgeway Funds, Inc.</ncom:nameOfApplicant>
      <ncom:signature>Deborah Hanna </ncom:signature>
      <ncom:signerName>Deborah Hanna </ncom:signerName>
      <ncom:title>Secretary/Treasurer and Chief Compliance Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
