Cannell Capital Activity Q4 2000-Q2 2023

Q2 2023

			Value		Shares		↓ Weighting
NOA	New	NORTH AMERN CONSTR GROUP LTD	$32,395,947	–	1,693,463	–	6.47%	–
TDW	New	TIDEWATER INC NEW	$27,641,719	–	498,588	–	5.52%	–
HCCI	New	HERITAGE CRYSTAL CLEAN INC	$27,038,669	–	715,498	–	5.40%	–
BBW	New	BUILD-A-BEAR WORKSHOP INC	$23,762,705	–	1,109,370	–	4.74%	–
ARLO	New	ARLO TECHNOLOGIES INC	$23,561,814	–	2,159,653	–	4.70%	–
VVI	New	VIAD CORP	$23,474,143	–	873,294	–	4.68%	–
CRTO	New	CRITEO S Aspons ads	$21,400,540	–	634,278	–	4.27%	–
SPWH	New	SPORTSMANS WHSE HLDGS INC	$21,029,420	–	3,689,372	–	4.20%	–
CVCO	New	CAVCO INDS INC DEL	$18,682,940	–	63,332	–	3.73%	–
TRUE	New	TRUECAR INC	$18,587,225	–	8,224,436	–	3.71%	–
INSE	New	INSPIRED ENTMT INC	$16,094,829	–	1,094,142	–	3.21%	–
WTTR	New	SELECT ENERGY SVCS INC	$15,498,151	–	1,913,352	–	3.09%	–
SWKH	New	SWK HLDGS CORP	$14,019,382	–	837,478	–	2.80%	–
PINS	New	PINTEREST INCcl a	$13,485,346	–	493,246	–	2.69%	–
LAZY	New	LAZYDAYS HLDGS INC	$12,628,132	–	1,092,399	–	2.52%	–
TTSH	New	TILE SHOP HLDGS INC	$12,352,294	–	2,229,656	–	2.46%	–
TIPT	New	TIPTREE INC	$11,325,871	–	754,555	–	2.26%	–
QUOT	New	QUOTIENT TECHNOLOGY INC	$11,311,503	–	2,945,704	–	2.26%	–
OSUR	New	ORASURE TECHNOLOGIES INC	$10,354,117	–	2,066,690	–	2.07%	–
LPRO	New	OPEN LENDING CORP	$10,267,534	–	976,930	–	2.05%	–
GFF	New	GRIFFON CORP	$9,630,209	–	238,963	–	1.92%	–
LDI	New	LOANDEPOT INC	$9,575,605	–	4,516,795	–	1.91%	–
FTHM	New	FATHOM HOLDINGS INC	$8,974,287	–	1,256,903	–	1.79%	–
MGNI	New	MAGNITE INC	$8,823,415	–	646,404	–	1.76%	–
	New	DOCGO INC	$8,798,102	–	938,965	–	1.76%	–
PRTS	New	CARPARTS COM INC	$8,437,661	–	1,985,332	–	1.68%	–
LINC	New	LINCOLN EDL SVCS CORP	$8,230,012	–	1,221,070	–	1.64%	–
	New	LEE ENTERPRISES INC	$7,959,743	–	596,231	–	1.59%	–
Z	New	ZILLOW GROUP INCcl c cap stk	$7,845,687	–	156,102	–	1.57%	–
MDXG	New	MIMEDX GROUP INC	$7,272,692	–	1,100,256	–	1.45%	–
	New	COMPOSECURE INC	$7,137,809	–	1,040,497	–	1.42%	–
STIM	New	NEURONETICS INC	$5,952,795	–	2,768,742	–	1.19%	–
VIAO	New	VIA OPTRONICS AGsponsored ads	$5,919,331	–	2,242,171	–	1.18%	–
WOW	New	WIDEOPENWEST INC	$4,995,948	–	591,937	–	1.00%	–
AEYE	New	AUDIOEYE INC	$3,430,672	–	701,569	–	0.68%	–
AMRK	New	A-MARK PRECIOUS METALS INC	$2,886,837	–	77,116	–	0.58%	–
MNTX	New	MANITEX INTL INC	$2,382,241	–	437,912	–	0.48%	–
	New	MARKETWISE INC	$2,284,526	–	1,142,263	–	0.46%	–
	New	NEXTDOOR HOLDINGS INC	$1,670,776	–	512,508	–	0.33%	–
	New	OTONOMO TECHNOLOGIES LTDordinary shares	$1,385,027	–	3,462,568	–	0.28%	–
NTIP	New	NETWORK-1 TECHNOLOGIES INC	$1,235,640	–	534,909	–	0.25%	–
PPIH	New	PERMA-PIPE INTL HLDGS INC	$1,179,164	–	123,992	–	0.24%	–
MQ	New	MARQETA INC	$1,165,493	–	239,321	–	0.23%	–
PNRG	New	PRIMEENERGY RESOURCES CORP	$966,315	–	10,500	–	0.19%	–
YNDX	New	YANDEX N V	$931,214	–	341,104	–	0.19%	–
RM	New	REGIONAL MGMT CORP	$897,554	–	29,428	–	0.18%	–
DGICA	New	DONEGAL GROUP INCcl a	$858,037	–	59,462	–	0.17%	–
WINA	New	WINMARK CORP	$731,434	–	2,200	–	0.15%	–
TTP	New	TORTOISE PIPELINE & ENERGY F	$715,975	–	26,140	–	0.14%	–
TYG	New	TORTOISE ENERGY INFRA CORP	$625,737	–	21,540	–	0.12%	–
EEX	New	EMERALD HOLDING INC	$614,578	–	149,897	–	0.12%	–
	New	GAMBLING COM GROUP LIMITEDordinary shares	$358,400	–	35,000	–	0.07%	–
PMD	New	PSYCHEMEDICS CORP	$341,061	–	74,794	–	0.07%	–
SSKN	New	STRATA SKIN SCIENCES INC	$333,995	–	351,611	–	0.07%	–
GTX	New	GARRETT MOTION INC	$329,295	–	43,500	–	0.07%	–
	New	AEMETIS INCput	$307,296	–	3,256	–	0.06%	–
ELS	New	EQUITY LIFESTYLE PPTYS INC	$223,078	–	3,335	–	0.04%	–
	New	PROSHARES TR IIultra bloomberg	$172,475	–	2,500	–	0.03%	–
WLMS	New	WILLIAMS INDL SVCS GROUP INC	$131,004	–	344,748	–	0.03%	–
DMLP	New	DORCHESTER MINERALS LP	$110,852	–	3,700	–	0.02%	–
	New	OAKTREE SPECIALTY LENDING CO	$97,092	–	4,997	–	0.02%	–
ESP	New	ESPEY MFG & ELECTRS CORP	$89,167	–	5,325	–	0.02%	–
DGICB	New	DONEGAL GROUP INCcl b	$40,560	–	3,000	–	0.01%	–
KEQU	New	KEWAUNEE SCIENTIFIC CORP	$37,602	–	2,482	–	0.01%	–
RICK	New	RCI HOSPITALITY HLDGS INC	$34,955	–	460	–	0.01%	–
GOEDWS	New	POLISHED COM INC*w exp 06/02/202	$117	–	1,799	–	0.00%	–

Q4 2022

			Value		Shares		↓ Weighting
	Exit	YANDEX N Vcall	$0	–	-1,830	–	0.00%	–
RICK	Exit	RCI HOSPITALITY HLDGS INC	$0	–	-460	–	-0.01%	–
	Exit	PARDES BIOSCIENCES INC	$0	–	-16,132	–	-0.01%	–
FIXX	Exit	HOMOLOGY MEDICINES INC	$0	–	-21,963	–	-0.01%	–
OMIC	Exit	SINGULAR GENOMICS SYSTEMS IN	$0	–	-14,246	–	-0.01%	–
AUTL	Exit	AUTOLUS THERAPEUTICS PLCspon ads	$0	–	-16,835	–	-0.01%	–
ANGN	Exit	ANGION BIOMEDICA CORP	$0	–	-40,181	–	-0.01%	–
	Exit	IO BIOTECH INC	$0	–	-12,594	–	-0.01%	–
ADAG	Exit	ADAGENE INCads	$0	–	-28,998	–	-0.01%	–
BNR	Exit	BURNING ROCK BIOTECH LTDsponsored ads	$0	–	-16,243	–	-0.01%	–
CYT	Exit	CYTEIR THERAPEUTICS INC	$0	–	-19,684	–	-0.01%	–
TBLAW	Exit	TABOOLA.COM LTD*w exp 06/29/202	$0	–	-106,391	–	-0.01%	–
FSTX	Exit	F-STAR THERAPEUTICS INC	$0	–	-7,345	–	-0.01%	–
	Exit	ADAGIO THERAPEUTICS INC	$0	–	-12,649	–	-0.01%	–
GANX	Exit	GAIN THERAPEUTICS INC	$0	–	-12,371	–	-0.01%	–
GBIO	Exit	GENERATION BIO CO	$0	–	-7,768	–	-0.01%	–
GRPH	Exit	GRAPHITE BIO INC	$0	–	-14,308	–	-0.01%	–
	Exit	TSCAN THERAPEUTICS INC	$0	–	-14,666	–	-0.01%	–
KEQU	Exit	KEWAUNEE SCIENTIFIC CORP	$0	–	-2,482	–	-0.01%	–
OVID	Exit	OVID THERAPEUTICS INC	$0	–	-22,620	–	-0.01%	–
	Exit	XILIO THERAPEUTICS INC	$0	–	-17,025	–	-0.01%	–
SBTX	Exit	SILVERBACK THERAPEUTICS INC	$0	–	-9,402	–	-0.01%	–
GRCL	Exit	GRACELL BIOTECHNOLOGIES INCsponsored ads	$0	–	-14,299	–	-0.01%	–
	Exit	OMEGA THERAPEUTICS INC	$0	–	-9,433	–	-0.01%	–
	Exit	VIGIL NEUROSCIENCE INC	$0	–	-8,044	–	-0.02%	–
LVTX	Exit	LAVA THERAPEUTICS NV	$0	–	-17,955	–	-0.02%	–
DMLP	Exit	DORCHESTER MINERALS LP	$0	–	-3,399	–	-0.02%	–
	Exit	PORTMAN RIDGE FIN CORP	$0	–	-4,154	–	-0.02%	–
GTX	Exit	GARRETT MOTION INC	$0	–	-43,500	–	-0.06%	–
CVR	Exit	CHICAGO RIVET & MACH CO	$0	–	-9,886	–	-0.06%	–
DFIN	Exit	DONNELLEY FINL SOLUTIONS INC	$0	–	-7,000	–	-0.06%	–
HIL	Exit	HILL INTL INC	$0	–	-91,589	–	-0.07%	–
SSKN	Exit	STRATA SKIN SCIENCES INC	$0	–	-419,384	–	-0.08%	–
EMKR	Exit	EMCORE CORP	$0	–	-241,204	–	-0.09%	–
GOEDWS	Exit	1847 GOEDEKER INC*w exp 06/02/202	$0	–	-3,501,673	–	-0.10%	–
WINA	Exit	WINMARK CORP	$0	–	-2,200	–	-0.11%	–
PPIH	Exit	PERMA-PIPE INTL HLDGS INC	$0	–	-56,625	–	-0.12%	–
PMD	Exit	PSYCHEMEDICS CORP	$0	–	-89,211	–	-0.13%	–
DGICA	Exit	DONEGAL GROUP INCcl a	$0	–	-43,722	–	-0.14%	–
WY	Exit	WEYERHAEUSER CO MTN BE	$0	–	-24,000	–	-0.16%	–
ODP	Exit	THE ODP CORP	$0	–	-26,987	–	-0.22%	–
PNRG	Exit	PRIMEENERGY RESOURCES CORP	$0	–	-13,083	–	-0.24%	–
GOED	Exit	1847 GOEDEKER INC	$0	–	-2,053,523	–	-0.24%	–
TYG	Exit	TORTOISE ENERGY INFRA CORP	$0	–	-35,879	–	-0.25%	–
TTP	Exit	TORTOISE PIPELINE & ENERGY F	$0	–	-44,900	–	-0.26%	–
EXTN	Exit	EXTERRAN CORP	$0	–	-288,870	–	-0.28%	–
NTIP	Exit	NETWORK-1 TECHNOLOGIES INC	$0	–	-638,012	–	-0.33%	–
VIAO	Exit	VIA OPTRONICS AGsponsored ads	$0	–	-1,021,201	–	-0.37%	–
GBLI	Exit	GLOBAL INDEMNITY GROUP LLC	$0	–	-78,680	–	-0.40%	–
MQ	Exit	MARQETA INC	$0	–	-278,656	–	-0.45%	–
MNTX	Exit	MANITEX INTL INC	$0	–	-381,793	–	-0.50%	–
YNDX	Exit	YANDEX N V	$0	–	-341,104	–	-0.52%	–
AMRK	Exit	A-MARK PRECIOUS METALS INC	$0	–	-81,016	–	-0.53%	–
BNED	Exit	BARNES & NOBLE ED INC	$0	–	-1,180,723	–	-0.65%	–
TBLA	Exit	TABOOLA.COM LTD	$0	–	-1,774,215	–	-0.74%	–
Z	Exit	ZILLOW GROUP INCcl c cap stk	$0	–	-114,896	–	-0.75%	–
MNTV	Exit	MOMENTIVE GLOBAL INC	$0	–	-588,236	–	-0.78%	–
SWIM	Exit	LATHAM GROUP INC	$0	–	-963,173	–	-0.79%	–
PWFL	Exit	POWERFLEET INC	$0	–	-1,131,076	–	-0.80%	–
	Exit	ECOVYST INC	$0	–	-448,503	–	-0.87%	–
LLNW	Exit	EDGIO INC	$0	–	-1,445,274	–	-0.92%	–
AEYE	Exit	AUDIOEYE INC	$0	–	-743,313	–	-0.94%	–
SNCR	Exit	SYNCHRONOSS TECHNOLOGIES INC	$0	–	-3,713,762	–	-0.97%	–
	Exit	DIAMOND OFFSHORE DRILLING IN	$0	–	-648,561	–	-0.98%	–
TIPT	Exit	TIPTREE INC	$0	–	-424,501	–	-1.05%	–
LPRO	Exit	OPEN LENDING CORP	$0	–	-669,607	–	-1.23%	–
PINS	Exit	PINTEREST INCcl a	$0	–	-265,041	–	-1.41%	–
	Exit	LEE ENTERPRISES INC	$0	–	-478,497	–	-1.93%	–
FTHM	Exit	FATHOM HOLDINGS INC	$0	–	-1,630,011	–	-1.98%	–
LINC	Exit	LINCOLN EDL SVCS CORP	$0	–	-1,588,569	–	-1.98%	–
NR	Exit	NEWPARK RES INC	$0	–	-3,794,715	–	-2.19%	–
CVCO	Exit	CAVCO INDS INC DEL	$0	–	-50,083	–	-2.36%	–
TRUE	Exit	TRUECAR INC	$0	–	-6,909,509	–	-2.39%	–
STIM	Exit	NEURONETICS INC	$0	–	-3,463,846	–	-2.52%	–
TTSH	Exit	TILE SHOP HLDGS INC	$0	–	-3,600,539	–	-2.90%	–
SD	Exit	SANDRIDGE ENERGY INC	$0	–	-792,708	–	-2.96%	–
INSE	Exit	INSPIRED ENTMT INC	$0	–	-1,633,177	–	-3.30%	–
ARLO	Exit	ARLO TECHNOLOGIES INC	$0	–	-3,309,484	–	-3.52%	–
PRTS	Exit	CARPARTS COM INC	$0	–	-3,016,354	–	-3.57%	–
TDW	Exit	TIDEWATER INC NEW	$0	–	-721,089	–	-3.58%	–
SWKH	Exit	SWK HLDGS CORP	$0	–	-951,166	–	-3.70%	–
CRTO	Exit	CRITEO S Aspons ads	$0	–	-739,140	–	-4.57%	–
HCCI	Exit	HERITAGE CRYSTAL CLEAN INC	$0	–	-687,434	–	-4.65%	–
BBW	Exit	BUILD-A-BEAR WORKSHOP INC	$0	–	-1,667,034	–	-5.09%	–
NOA	Exit	NORTH AMERN CONSTR GROUP LTD	$0	–	-2,387,047	–	-5.23%	–
VVI	Exit	VIAD CORP	$0	–	-745,116	–	-5.39%	–
WTTR	Exit	SELECT ENERGY SVCS INC	$0	–	-3,427,614	–	-5.47%	–
FRG	Exit	FRANCHISE GROUP INC	$0	–	-986,286	–	-5.49%	–
SPWH	Exit	SPORTSMANS WHSE HLDGS INC	$0	–	-3,321,277	–	-6.31%	–

Q3 2022

			Value		Shares		↓ Weighting
SPWH	Buy	SPORTSMANS WHSE HLDGS INC	$27,567,000	-6.4%	3,321,277	+8.2%	6.31%	+6.8%
FRG	Buy	FRANCHISE GROUP INC	$23,967,000	-20.2%	986,286	+15.1%	5.49%	-9.0%
WTTR	Buy	SELECT ENERGY SVCS INC	$23,890,000	+3.3%	3,427,614	+1.1%	5.47%	+17.8%
VVI	Sell	VIAD CORP	$23,531,000	+10.1%	745,116	-3.8%	5.39%	+25.5%
NOA	Sell	NORTH AMERN CONSTR GROUP LTD	$22,844,000	-26.1%	2,387,047	-14.8%	5.23%	-15.8%
HCCI	Sell	HERITAGE CRYSTAL CLEAN INC	$20,327,000	-37.3%	687,434	-42.8%	4.65%	-28.5%
CRTO	Buy	CRITEO S Aspons ads	$19,979,000	+19.9%	739,140	+8.2%	4.57%	+36.7%
SWKH	Buy	SWK HLDGS CORP	$16,170,000	-1.9%	951,166	+0.8%	3.70%	+11.9%
TDW	Buy	TIDEWATER INC NEW	$15,648,000	+64.6%	721,089	+60.0%	3.58%	+87.7%
PRTS	Sell	CARPARTS COM INC	$15,595,000	-27.7%	3,016,354	-3.0%	3.57%	-17.5%
ARLO	Buy	ARLO TECHNOLOGIES INC	$15,356,000	-23.1%	3,309,484	+4.0%	3.52%	-12.3%
INSE	Buy	INSPIRED ENTMT INC	$14,421,000	+15.4%	1,633,177	+12.5%	3.30%	+31.6%
SD	Sell	SANDRIDGE ENERGY INC	$12,929,000	-29.7%	792,708	-32.4%	2.96%	-19.8%
TTSH	Buy	TILE SHOP HLDGS INC	$12,674,000	+86.7%	3,600,539	+62.9%	2.90%	+112.9%
TRUE	Buy	TRUECAR INC	$10,433,000	-28.6%	6,909,509	+22.4%	2.39%	-18.6%
CVCO	Buy	CAVCO INDS INC DEL	$10,305,000	+218.2%	50,083	+203.1%	2.36%	+262.9%
NR	Buy	NEWPARK RES INC	$9,563,000	-18.0%	3,794,715	+0.5%	2.19%	-6.5%
LINC	Buy	LINCOLN EDL SVCS CORP	$8,642,000	+328.2%	1,588,569	+396.7%	1.98%	+388.6%
FTHM	Buy	FATHOM HOLDINGS INC	$8,639,000	-27.5%	1,630,011	+7.2%	1.98%	-17.3%
	Sell	LEE ENTERPRISES INC	$8,422,000	-8.0%	478,497	-0.8%	1.93%	+4.8%
PINS	Sell	PINTEREST INCcl a	$6,175,000	+3.7%	265,041	-19.2%	1.41%	+18.2%
LPRO	Buy	OPEN LENDING CORP	$5,384,000	-14.9%	669,607	+8.3%	1.23%	-2.9%
TIPT	Buy	TIPTREE INC	$4,568,000	+72.4%	424,501	+70.2%	1.05%	+96.6%
	Buy	DIAMOND OFFSHORE DRILLING IN	$4,300,000	+39.0%	648,561	+23.5%	0.98%	+58.6%
LLNW	New	EDGIO INC	$4,018,000	–	1,445,274	–	0.92%	–
	New	ECOVYST INC	$3,785,000	–	448,503	–	0.87%	–
PWFL	Buy	POWERFLEET INC	$3,484,000	+56.8%	1,131,076	+10.5%	0.80%	+78.9%
SWIM	New	LATHAM GROUP INC	$3,458,000	–	963,173	–	0.79%	–
Z	New	ZILLOW GROUP INCcl c cap stk	$3,287,000	–	114,896	–	0.75%	–
TBLA	Sell	TABOOLA.COM LTD	$3,211,000	-70.6%	1,774,215	-58.8%	0.74%	-66.4%
BNED	Buy	BARNES & NOBLE ED INC	$2,834,000	+373.9%	1,180,723	+478.9%	0.65%	+440.8%
MNTX	Buy	MANITEX INTL INC	$2,188,000	-8.2%	381,793	+3.9%	0.50%	+4.6%
MQ	Sell	MARQETA INC	$1,984,000	-55.4%	278,656	-49.2%	0.45%	-49.2%
GBLI	Sell	GLOBAL INDEMNITY GROUP LLC	$1,736,000	-32.2%	78,680	-20.5%	0.40%	-22.8%
EXTN	New	EXTERRAN CORP	$1,202,000	–	288,870	–	0.28%	–
GOED	Sell	1847 GOEDEKER INC	$1,068,000	-82.4%	2,053,523	-58.8%	0.24%	-79.9%
PNRG	Sell	PRIMEENERGY RESOURCES CORP	$1,044,000	-17.3%	13,083	-18.8%	0.24%	-5.9%
ODP	Sell	THE ODP CORP	$949,000	-92.5%	26,987	-93.5%	0.22%	-91.4%
WY	Sell	WEYERHAEUSER CO MTN BE	$685,000	-65.3%	24,000	-59.7%	0.16%	-60.4%
DGICA	New	DONEGAL GROUP INCcl a	$590,000	–	43,722	–	0.14%	–
PPIH	Buy	PERMA-PIPE INTL HLDGS INC	$535,000	+12.6%	56,625	+7.3%	0.12%	+28.4%
GOEDWS	Sell	1847 GOEDEKER INC*w exp 06/02/202	$438,000	-67.2%	3,501,673	-31.7%	0.10%	-62.7%
EMKR	Sell	EMCORE CORP	$403,000	-95.8%	241,204	-92.3%	0.09%	-95.2%
HIL	Sell	HILL INTL INC	$304,000	+30.5%	91,589	-33.9%	0.07%	+48.9%
DFIN	Sell	DONNELLEY FINL SOLUTIONS INC	$259,000	-21.0%	7,000	-37.5%	0.06%	-10.6%
CVR	Buy	CHICAGO RIVET & MACH CO	$255,000	+91.7%	9,886	+111.7%	0.06%	+114.8%
LVTX	Buy	LAVA THERAPEUTICS NV	$82,000	+583.3%	17,955	+342.5%	0.02%	+850.0%
	Buy	VIGIL NEUROSCIENCE INC	$73,000	+711.1%	8,044	+121.2%	0.02%	+750.0%
	Buy	OMEGA THERAPEUTICS INC	$51,000	+410.0%	9,433	+244.5%	0.01%	+500.0%
SBTX	Buy	SILVERBACK THERAPEUTICS INC	$50,000	+354.5%	9,402	+266.0%	0.01%	+450.0%
GRCL	Buy	GRACELL BIOTECHNOLOGIES INCsponsored ads	$46,000	+283.3%	14,299	+553.2%	0.01%	+450.0%
	Buy	XILIO THERAPEUTICS INC	$50,000	+284.6%	17,025	+274.6%	0.01%	+266.7%
	Buy	TSCAN THERAPEUTICS INC	$45,000	+309.1%	14,666	+301.4%	0.01%	+400.0%
OVID	Buy	OVID THERAPEUTICS INC	$42,000	+223.1%	22,620	+280.2%	0.01%	+233.3%
GRPH	Buy	GRAPHITE BIO INC	$45,000	+309.1%	14,308	+262.0%	0.01%	+400.0%
TBLAW	Buy	TABOOLA.COM LTD*w exp 06/29/202	$39,000	+8.3%	106,391	+2.8%	0.01%	+28.6%
GBIO	Buy	GENERATION BIO CO	$41,000	+272.7%	7,768	+345.2%	0.01%	+350.0%
GANX	Buy	GAIN THERAPEUTICS INC	$40,000	+300.0%	12,371	+349.7%	0.01%	+350.0%
FSTX	Buy	F-STAR THERAPEUTICS INC	$38,000	+245.5%	7,345	+307.2%	0.01%	+350.0%
CYT	Buy	CYTEIR THERAPEUTICS INC	$38,000	+216.7%	19,684	+405.9%	0.01%	+350.0%
BNR	Buy	BURNING ROCK BIOTECH LTDsponsored ads	$39,000	+160.0%	16,243	+225.9%	0.01%	+200.0%
	Buy	ADAGIO THERAPEUTICS INC	$40,000	+263.6%	12,649	+276.8%	0.01%	+350.0%
OMIC	Buy	SINGULAR GENOMICS SYSTEMS IN	$36,000	+200.0%	14,246	+372.7%	0.01%	+300.0%
AUTL	Buy	AUTOLUS THERAPEUTICS PLCspon ads	$36,000	+227.3%	16,835	+320.8%	0.01%	+300.0%
FIXX	Buy	HOMOLOGY MEDICINES INC	$35,000	+218.2%	21,963	+281.8%	0.01%	+300.0%
ANGN	Buy	ANGION BIOMEDICA CORP	$37,000	+428.6%	40,181	+557.7%	0.01%	+700.0%
ADAG	Buy	ADAGENE INCads	$37,000	+236.4%	28,998	+448.7%	0.01%	+300.0%
	Buy	IO BIOTECH INC	$34,000	+240.0%	12,594	+474.5%	0.01%	+300.0%
	Buy	PARDES BIOSCIENCES INC	$30,000	+150.0%	16,132	+307.5%	0.01%	+250.0%
	New	YANDEX N Vcall	$0	–	1,830	–	0.00%	–
	Exit	CHAVANT CAPITAL ACQUISITN CO*w exp 99/99/999	$0	–	-85,457	–	-0.00%	–
HCARW	Exit	HEALTHCARE SERVICES ACQU COR*w exp 12/28/202	$0	–	-83,687	–	-0.00%	–
BOIL	Exit	PROSHARES TR IIultra bloomberg	$0	–	-1,063	–	-0.01%	–
	Exit	TWITTER INC	$0	–	-3,995	–	-0.02%	–
	Exit	YANDEX N V	$0	–	-1,830	–	-0.10%	–
	Exit	STRYVE FOODS INC	$0	–	-1,042,091	–	-0.18%	–
EHTH	Exit	EHEALTH INC	$0	–	-424,474	–	-0.80%	–
QUOT	Exit	QUOTIENT TECHNOLOGY INC	$0	–	-2,548,963	–	-1.52%	–

Q2 2022

			Value		Shares		↓ Weighting
HCCI	New	HERITAGE CRYSTAL CLEAN INC	$32,407,000	–	1,202,023	–	6.51%	–
NOA	New	NORTH AMERN CONSTR GROUP LTD	$30,920,000	–	2,800,757	–	6.21%	–
FRG	New	FRANCHISE GROUP INC	$30,047,000	–	856,769	–	6.03%	–
SPWH	New	SPORTSMANS WHSE HLDGS INC	$29,441,000	–	3,069,985	–	5.91%	–
BBW	New	BUILD-A-BEAR WORKSHOP INC	$27,373,000	–	1,667,034	–	5.50%	–
WTTR	New	SELECT ENERGY SVCS INC	$23,127,000	–	3,391,047	–	4.64%	–
PRTS	New	CARPARTS COM INC	$21,571,000	–	3,108,231	–	4.33%	–
VVI	New	VIAD CORP	$21,379,000	–	774,311	–	4.29%	–
ARLO	New	ARLO TECHNOLOGIES INC	$19,958,000	–	3,183,136	–	4.01%	–
SD	New	SANDRIDGE ENERGY INC	$18,380,000	–	1,172,952	–	3.69%	–
CRTO	New	CRITEO S Aspons ads	$16,667,000	–	683,086	–	3.35%	–
SWKH	New	SWK HLDGS CORP	$16,478,000	–	943,236	–	3.31%	–
TRUE	New	TRUECAR INC	$14,615,000	–	5,642,830	–	2.93%	–
ODP	New	THE ODP CORP	$12,632,000	–	417,740	–	2.54%	–
INSE	New	INSPIRED ENTMT INC	$12,495,000	–	1,451,246	–	2.51%	–
FTHM	New	FATHOM HOLDINGS INC	$11,920,000	–	1,520,350	–	2.39%	–
NR	New	NEWPARK RES INC	$11,669,000	–	3,776,482	–	2.34%	–
STIM	New	NEURONETICS INC	$11,119,000	–	3,463,846	–	2.23%	–
TBLA	New	TABOOLA.COM LTD	$10,906,000	–	4,310,796	–	2.19%	–
EMKR	New	EMCORE CORP	$9,601,000	–	3,127,394	–	1.93%	–
TDW	New	TIDEWATER INC NEW	$9,507,000	–	450,780	–	1.91%	–
	New	LEE ENTERPRISES INC	$9,158,000	–	482,279	–	1.84%	–
QUOT	New	QUOTIENT TECHNOLOGY INC	$7,570,000	–	2,548,963	–	1.52%	–
TTSH	New	TILE SHOP HLDGS INC	$6,787,000	–	2,210,678	–	1.36%	–
LPRO	New	OPEN LENDING CORP	$6,325,000	–	618,258	–	1.27%	–
GOED	New	1847 GOEDEKER INC	$6,077,000	–	4,981,394	–	1.22%	–
PINS	New	PINTEREST INCcl a	$5,955,000	–	327,909	–	1.20%	–
MNTV	New	MOMENTIVE GLOBAL INC	$5,176,000	–	588,236	–	1.04%	–
YNDX	New	YANDEX N V	$4,884,000	–	341,104	–	0.98%	–
AEYE	New	AUDIOEYE INC	$4,467,000	–	743,313	–	0.90%	–
MQ	New	MARQETA INC	$4,451,000	–	548,808	–	0.89%	–
SNCR	New	SYNCHRONOSS TECHNOLOGIES INC	$4,271,000	–	3,713,762	–	0.86%	–
EHTH	New	EHEALTH INC	$3,960,000	–	424,474	–	0.80%	–
CVCO	New	CAVCO INDS INC DEL	$3,239,000	–	16,524	–	0.65%	–
	New	DIAMOND OFFSHORE DRILLING IN	$3,094,000	–	525,283	–	0.62%	–
TIPT	New	TIPTREE INC	$2,649,000	–	249,476	–	0.53%	–
AMRK	New	A-MARK PRECIOUS METALS INC	$2,613,000	–	81,016	–	0.52%	–
GBLI	New	GLOBAL INDEMNITY GROUP LLC	$2,559,000	–	98,920	–	0.51%	–
MNTX	New	MANITEX INTL INC	$2,384,000	–	367,362	–	0.48%	–
PWFL	New	POWERFLEET INC	$2,222,000	–	1,023,990	–	0.45%	–
VIAO	New	VIA OPTRONICS AGsponsored ads	$2,165,000	–	1,021,201	–	0.44%	–
LINC	New	LINCOLN EDL SVCS CORP	$2,018,000	–	319,848	–	0.40%	–
WY	New	WEYERHAEUSER CO MTN BE	$1,973,000	–	59,579	–	0.40%	–
NTIP	New	NETWORK-1 TECHNOLOGIES INC	$1,531,000	–	638,012	–	0.31%	–
GOEDWS	New	1847 GOEDEKER INC*w exp 06/02/202	$1,334,000	–	5,130,032	–	0.27%	–
PNRG	New	PRIMEENERGY RESOURCES CORP	$1,263,000	–	16,116	–	0.25%	–
TTP	New	TORTOISE PIPELINE & ENERGY F	$1,116,000	–	44,900	–	0.22%	–
TYG	New	TORTOISE ENERGY INFRA CORP	$1,061,000	–	35,879	–	0.21%	–
	New	STRYVE FOODS INC	$918,000	–	1,042,091	–	0.18%	–
BNED	New	BARNES & NOBLE ED INC	$598,000	–	203,974	–	0.12%	–
PMD	New	PSYCHEMEDICS CORP	$566,000	–	89,211	–	0.11%	–
	New	YANDEX N V	$481,000	–	1,830	–	0.10%	–
PPIH	New	PERMA-PIPE INTL HLDGS INC	$475,000	–	52,751	–	0.10%	–
WINA	New	WINMARK CORP	$430,000	–	2,200	–	0.09%	–
SSKN	New	STRATA SKIN SCIENCES INC	$403,000	–	419,384	–	0.08%	–
GTX	New	GARRETT MOTION INC	$336,000	–	43,500	–	0.07%	–
DFIN	New	DONNELLEY FINL SOLUTIONS INC	$328,000	–	11,200	–	0.07%	–
HIL	New	HILL INTL INC	$233,000	–	138,589	–	0.05%	–
CVR	New	CHICAGO RIVET & MACH CO	$133,000	–	4,669	–	0.03%	–
	New	TWITTER INC	$108,000	–	3,995	–	0.02%	–
	New	PORTMAN RIDGE FIN CORP	$97,000	–	4,154	–	0.02%	–
DMLP	New	DORCHESTER MINERALS LP	$81,000	–	3,399	–	0.02%	–
BOIL	New	PROSHARES TR IIultra bloomberg	$45,000	–	1,063	–	0.01%	–
KEQU	New	KEWAUNEE SCIENTIFIC CORP	$41,000	–	2,482	–	0.01%	–
TBLAW	New	TABOOLA.COM LTD*w exp 06/29/202	$36,000	–	103,506	–	0.01%	–
RICK	New	RCI HOSPITALITY HLDGS INC	$22,000	–	460	–	0.00%	–
	New	XILIO THERAPEUTICS INC	$13,000	–	4,545	–	0.00%	–
BNR	New	BURNING ROCK BIOTECH LTDsponsored ads	$15,000	–	4,984	–	0.00%	–
OVID	New	OVID THERAPEUTICS INC	$13,000	–	5,949	–	0.00%	–
AUTL	New	AUTOLUS THERAPEUTICS PLCspon ads	$11,000	–	4,001	–	0.00%	–
	New	PARDES BIOSCIENCES INC	$12,000	–	3,959	–	0.00%	–
	New	OMEGA THERAPEUTICS INC	$10,000	–	2,738	–	0.00%	–
	New	IO BIOTECH INC	$10,000	–	2,192	–	0.00%	–
FIXX	New	HOMOLOGY MEDICINES INC	$11,000	–	5,753	–	0.00%	–
HCARW	New	HEALTHCARE SERVICES ACQU COR*w exp 12/28/202	$8,000	–	83,687	–	0.00%	–
GRPH	New	GRAPHITE BIO INC	$11,000	–	3,952	–	0.00%	–
SBTX	New	SILVERBACK THERAPEUTICS INC	$11,000	–	2,569	–	0.00%	–
OMIC	New	SINGULAR GENOMICS SYSTEMS IN	$12,000	–	3,014	–	0.00%	–
GRCL	New	GRACELL BIOTECHNOLOGIES INCsponsored ads	$12,000	–	2,189	–	0.00%	–
GBIO	New	GENERATION BIO CO	$11,000	–	1,745	–	0.00%	–
GANX	New	GAIN THERAPEUTICS INC	$10,000	–	2,751	–	0.00%	–
FSTX	New	F-STAR THERAPEUTICS INC	$11,000	–	1,804	–	0.00%	–
CYT	New	CYTEIR THERAPEUTICS INC	$12,000	–	3,891	–	0.00%	–
	New	TSCAN THERAPEUTICS INC	$11,000	–	3,654	–	0.00%	–
	New	VIGIL NEUROSCIENCE INC	$9,000	–	3,636	–	0.00%	–
	New	ADAGIO THERAPEUTICS INC	$11,000	–	3,357	–	0.00%	–
LVTX	New	LAVA THERAPEUTICS NV	$12,000	–	4,058	–	0.00%	–
ADAG	New	ADAGENE INCads	$11,000	–	5,285	–	0.00%	–
	New	CHAVANT CAPITAL ACQUISITN CO*w exp 99/99/999	$6,000	–	85,457	–	0.00%	–
ANGN	New	ANGION BIOMEDICA CORP	$7,000	–	6,109	–	0.00%	–

Q4 2021

			Value		Shares		↓ Weighting
IROQ	Exit	IF BANCORP INC	$0	–	-515	–	-0.00%	–
	Exit	LAKESHORE ACQUISITION I CORP*w exp 07/15/202	$0	–	-42,491	–	-0.00%	–
KEQU	Exit	KEWAUNEE SCIENTIFIC CORP	$0	–	-2,482	–	-0.01%	–
BRIVW	Exit	B RILEY PRIN 250 MERGER CORP*w exp 04/01/202	$0	–	-38,991	–	-0.01%	–
	Exit	CHAVANT CAPITAL ACQUISITN CO*w exp 99/99/999	$0	–	-85,457	–	-0.01%	–
HCARW	Exit	HEALTHCARE SERVICES ACQU COR*w exp 99/99/999	$0	–	-83,687	–	-0.01%	–
DMLP	Exit	DORCHESTER MINERALS LP	$0	–	-3,014	–	-0.01%	–
CVR	Exit	CHICAGO RIVET & MACH CO	$0	–	-3,269	–	-0.02%	–
BRPMW	Exit	B RILEY PRINCIPAL 150 MERGER*w exp 03/01/202	$0	–	-150,730	–	-0.02%	–
	Exit	PORTMAN RIDGE FIN CORP	$0	–	-5,272	–	-0.02%	–
HIL	Exit	HILL INTL INC	$0	–	-75,689	–	-0.03%	–
SGAMW	Exit	SEAPORT GLOBAL ACQUISITN COR*w exp 12/15/202	$0	–	-193,163	–	-0.03%	–
RMNI	Exit	RIMINI STR INC DEL	$0	–	-32,901	–	-0.05%	–
	Exit	GREENIDGE GENERATION HLDGS I	$0	–	-14,400	–	-0.06%	–
WINA	Exit	WINMARK CORP	$0	–	-2,000	–	-0.07%	–
DFIN	Exit	DONNELLEY FINL SOLUTIONS INC	$0	–	-15,200	–	-0.09%	–
TIPT	Exit	TIPTREE INC	$0	–	-56,650	–	-0.09%	–
PNRG	Exit	PRIMEENERGY RESOURCES CORP	$0	–	-10,700	–	-0.10%	–
GEG	Exit	GREAT ELM GROUP INC	$0	–	-317,230	–	-0.12%	–
TYG	Exit	TORTOISE ENERGY INFRA CORP	$0	–	-29,897	–	-0.13%	–
WM	Exit	WASTE MGMT INC DEL	$0	–	-5,684	–	-0.14%	–
GBLI	Exit	GLOBAL INDEMNITY GROUP LLC	$0	–	-31,303	–	-0.14%	–
TTP	Exit	TORTOISE PIPELINE & ENERGY F	$0	–	-37,439	–	-0.15%	–
Y	Exit	ALLEGHANY CORP MD	$0	–	-2,318	–	-0.24%	–
SSKN	Exit	STRATA SKIN SCIENCES INC	$0	–	-874,321	–	-0.26%	–
NTIP	Exit	NETWORK-1 TECHNOLOGIES INC	$0	–	-758,044	–	-0.37%	–
BRPM	Exit	B RILEY PRINCIPAL 150 MERGER	$0	–	-238,179	–	-0.38%	–
MNTX	Exit	MANITEX INTL INC	$0	–	-355,062	–	-0.42%	–
AMRK	Exit	A-MARK PRECIOUS METALS INC	$0	–	-47,000	–	-0.46%	–
EAR	Exit	EARGO INC	$0	–	-604,430	–	-0.67%	–
AEYE	Exit	AUDIOEYE INC	$0	–	-446,623	–	-0.81%	–
WY	Exit	WEYERHAEUSER CO MTN BE	$0	–	-152,715	–	-0.90%	–
EVRI	Exit	EVERI HLDGS INC	$0	–	-258,982	–	-1.03%	–
VIAO	Exit	VIA OPTRONICS AGsponsored ads	$0	–	-829,630	–	-1.05%	–
HOG	Exit	HARLEY DAVIDSON INC	$0	–	-181,124	–	-1.09%	–
FARM	Exit	FARMER BROS CO	$0	–	-792,861	–	-1.10%	–
GOCO	Exit	GOHEALTH INC	$0	–	-1,372,653	–	-1.14%	–
SIC	Exit	SELECT INTERIOR CONCEPTS INCcl a	$0	–	-496,374	–	-1.18%	–
PRTS	Exit	CARPARTS COM INC	$0	–	-464,066	–	-1.19%	–
GOEDWS	Exit	1847 GOEDEKER INC*w exp 99/99/999	$0	–	-4,389,635	–	-1.22%	–
SLQT	Exit	SELECTQUOTE INC	$0	–	-586,840	–	-1.25%	–
	Exit	LIMELIGHT NETWORKS INCnote 3.500% 8/0	$0	–	-11,055,000	–	-1.58%	–
MNTV	Exit	MOMENTIVE GLOBAL INC	$0	–	-540,068	–	-1.74%	–
	Exit	LEE ENTERPRISES INC	$0	–	-483,267	–	-1.80%	–
ARKO	Exit	ARKO CORP	$0	–	-1,114,380	–	-1.86%	–
PFMT	Exit	PERFORMANT FINL CORP	$0	–	-3,453,486	–	-2.25%	–
STIM	Exit	NEURONETICS INC	$0	–	-2,085,003	–	-2.25%	–
TRMR	Exit	TREMOR INTL LTDads	$0	–	-743,649	–	-2.26%	–
SNCR	Exit	SYNCHRONOSS TECHNOLOGIES INC	$0	–	-6,214,512	–	-2.46%	–
SWKH	Exit	SWK HLDGS CORP	$0	–	-865,577	–	-2.59%	–
INSE	Exit	INSPIRED ENTMT INC	$0	–	-1,379,786	–	-2.66%	–
GOED	Exit	1847 GOEDEKER INC	$0	–	-5,236,940	–	-2.71%	–
EHTH	Exit	EHEALTH INC	$0	–	-432,195	–	-2.88%	–
TTSH	Exit	TILE SHOP HLDGS INC	$0	–	-2,387,878	–	-3.02%	–
OSPN	Exit	ONESPAN INC	$0	–	-1,024,433	–	-3.17%	–
TBLA	Exit	TABOOLA.COM LTD	$0	–	-2,317,538	–	-3.23%	–
EMKR	Exit	EMCORE CORP	$0	–	-2,676,347	–	-3.30%	–
ARLO	Exit	ARLO TECHNOLOGIES INC	$0	–	-3,149,948	–	-3.33%	–
BBW	Exit	BUILD-A-BEAR WORKSHOP INC	$0	–	-1,343,362	–	-3.75%	–
FRG	Exit	FRANCHISE GROUP INC	$0	–	-658,607	–	-3.84%	–
HCCI	Exit	HERITAGE CRYSTAL CLEAN INC	$0	–	-851,631	–	-4.07%	–
CRTO	Exit	CRITEO S Aspons ads	$0	–	-673,313	–	-4.07%	–
SD	Exit	SANDRIDGE ENERGY INC	$0	–	-1,897,940	–	-4.07%	–
ODP	Exit	THE ODP CORP	$0	–	-628,033	–	-4.16%	–
IHC	Exit	INDEPENDENCE HLDG CO NEW	$0	–	-607,678	–	-4.97%	–
VVI	Exit	VIAD CORP	$0	–	-785,952	–	-5.88%	–
NOA	Exit	NORTH AMERN CONSTR GROUP LTD	$0	–	-2,482,188	–	-6.02%	–

Q3 2021

			Value		Shares		↓ Weighting
NOA	Sell	NORTH AMERN CONSTR GROUP LTD	$36,538,000	-9.2%	2,482,188	-6.4%	6.02%	-6.8%
VVI	Buy	VIAD CORP	$35,690,000	+29.7%	785,952	+42.4%	5.88%	+33.3%
IHC	Buy	INDEPENDENCE HLDG CO NEW	$30,135,000	+29.4%	607,678	+20.9%	4.97%	+32.9%
ODP	Buy	THE ODP CORP	$25,222,000	+6.0%	628,033	+26.8%	4.16%	+8.9%
SD	Sell	SANDRIDGE ENERGY INC	$24,692,000	+24.1%	1,897,940	-40.1%	4.07%	+27.4%
HCCI	Sell	HERITAGE CRYSTAL CLEAN INC	$24,680,000	-4.1%	851,631	-1.8%	4.07%	-1.5%
CRTO	Buy	CRITEO S Aspons ads	$24,677,000	-12.5%	673,313	+8.0%	4.07%	-10.1%
FRG	Sell	FRANCHISE GROUP INC	$23,321,000	-18.7%	658,607	-19.0%	3.84%	-16.5%
BBW	Buy	BUILD-A-BEAR WORKSHOP INC	$22,757,000	+2.1%	1,343,362	+4.3%	3.75%	+4.8%
ARLO	Buy	ARLO TECHNOLOGIES INC	$20,191,000	+52.1%	3,149,948	+60.7%	3.33%	+56.2%
EMKR	Buy	EMCORE CORP	$20,019,000	-15.2%	2,676,347	+4.5%	3.30%	-12.9%
TBLA	Buy	TABOOLA.COM LTD	$19,606,000	+54.6%	2,317,538	+89.1%	3.23%	+58.8%
OSPN	Buy	ONESPAN INC	$19,239,000	+11.0%	1,024,433	+51.0%	3.17%	+14.0%
TTSH	Sell	TILE SHOP HLDGS INC	$18,315,000	-29.4%	2,387,878	-26.0%	3.02%	-27.5%
EHTH	New	EHEALTH INC	$17,504,000	–	432,195	–	2.88%	–
GOED	Buy	1847 GOEDEKER INC	$16,444,000	+14.9%	5,236,940	+40.8%	2.71%	+18.0%
INSE	Buy	INSPIRED ENTMT INC	$16,143,000	+70.0%	1,379,786	+85.2%	2.66%	+74.5%
SWKH	Sell	SWK HLDGS CORP	$15,728,000	-10.1%	865,577	-13.1%	2.59%	-7.6%
SNCR	Buy	SYNCHRONOSS TECHNOLOGIES INC	$14,915,000	+86.6%	6,214,512	+179.1%	2.46%	+91.7%
TRMR	New	TREMOR INTL LTDads	$13,735,000	–	743,649	–	2.26%	–
STIM	Buy	NEURONETICS INC	$13,678,000	-34.9%	2,085,003	+58.9%	2.25%	-33.2%
PFMT	Buy	PERFORMANT FINL CORP	$13,676,000	+15.8%	3,453,486	+9.6%	2.25%	+18.9%
ARKO	Sell	ARKO CORP	$11,255,000	+3.6%	1,114,380	-5.7%	1.86%	+6.5%
	Sell	LEE ENTERPRISES INC	$10,941,000	-34.2%	483,267	-17.8%	1.80%	-32.4%
MNTV	Sell	MOMENTIVE GLOBAL INC	$10,585,000	-39.2%	540,068	-34.6%	1.74%	-37.5%
	New	LIMELIGHT NETWORKS INCnote 3.500% 8/0	$9,618,000	–	11,055,000	–	1.58%	–
SLQT	New	SELECTQUOTE INC	$7,588,000	–	586,840	–	1.25%	–
GOEDWS	Buy	1847 GOEDEKER INC*w exp 99/99/999	$7,375,000	+27.5%	4,389,635	+62.4%	1.22%	+30.9%
PRTS	Sell	CARPARTS COM INC	$7,244,000	-69.7%	464,066	-60.5%	1.19%	-68.8%
SIC	Buy	SELECT INTERIOR CONCEPTS INCcl a	$7,158,000	+424.0%	496,374	+241.6%	1.18%	+438.8%
GOCO	New	GOHEALTH INC	$6,904,000	–	1,372,653	–	1.14%	–
FARM	Sell	FARMER BROS CO	$6,668,000	-51.3%	792,861	-26.5%	1.10%	-50.0%
HOG	Sell	HARLEY DAVIDSON INC	$6,631,000	-27.9%	181,124	-9.8%	1.09%	-25.9%
VIAO	Sell	VIA OPTRONICS AGsponsored ads	$6,355,000	-45.8%	829,630	-20.6%	1.05%	-44.4%
EVRI	Sell	EVERI HLDGS INC	$6,262,000	-74.4%	258,982	-73.5%	1.03%	-73.7%
AEYE	New	AUDIOEYE INC	$4,926,000	–	446,623	–	0.81%	–
EAR	New	EARGO INC	$4,068,000	–	604,430	–	0.67%	–
AMRK	Sell	A-MARK PRECIOUS METALS INC	$2,821,000	+20.1%	47,000	-6.9%	0.46%	+23.3%
MNTX	Buy	MANITEX INTL INC	$2,549,000	+7.5%	355,062	+9.1%	0.42%	+10.2%
SSKN	Buy	STRATA SKIN SCIENCES INC	$1,609,000	+19.8%	874,321	+1.6%	0.26%	+23.3%
Y	Buy	ALLEGHANY CORP MD	$1,447,000	+24.7%	2,318	+33.3%	0.24%	+28.0%
GBLI	New	GLOBAL INDEMNITY GROUP LLC	$853,000	–	31,303	–	0.14%	–
PNRG	Buy	PRIMEENERGY RESOURCES CORP	$625,000	+114.8%	10,700	+72.6%	0.10%	+119.1%
TIPT	New	TIPTREE INC	$568,000	–	56,650	–	0.09%	–
WINA	Buy	WINMARK CORP	$430,000	+148.6%	2,000	+122.2%	0.07%	+153.6%
	New	GREENIDGE GENERATION HLDGS I	$368,000	–	14,400	–	0.06%	–
RMNI	Sell	RIMINI STR INC DEL	$317,000	-78.9%	32,901	-86.5%	0.05%	-78.4%
SGAMW	Sell	SEAPORT GLOBAL ACQUISITN COR*w exp 12/15/202	$182,000	-69.5%	193,163	-72.2%	0.03%	-68.8%
HIL	New	HILL INTL INC	$157,000	–	75,689	–	0.03%	–
	New	PORTMAN RIDGE FIN CORP	$128,000	–	5,272	–	0.02%	–
BRPMW	Sell	B RILEY PRINCIPAL 150 MERGER*w exp 03/01/202	$116,000	-71.4%	150,730	-55.5%	0.02%	-70.8%
CVR	Buy	CHICAGO RIVET & MACH CO	$88,000	+37.5%	3,269	+33.0%	0.02%	+50.0%
DMLP	New	DORCHESTER MINERALS LP	$58,000	–	3,014	–	0.01%	–
HCARW	Sell	HEALTHCARE SERVICES ACQU COR*w exp 99/99/999	$55,000	-79.4%	83,687	-72.1%	0.01%	-79.1%
	New	CHAVANT CAPITAL ACQUISITN CO*w exp 99/99/999	$41,000	–	85,457	–	0.01%	–
KEQU	Sell	KEWAUNEE SCIENTIFIC CORP	$33,000	-67.6%	2,482	-65.1%	0.01%	-68.8%
BRIVW	Sell	B RILEY PRIN 250 MERGER CORP*w exp 04/01/202	$28,000	-81.5%	38,991	-70.8%	0.01%	-79.2%
	New	LAKESHORE ACQUISITION I CORP*w exp 07/15/202	$22,000	–	42,491	–	0.00%	–
IROQ	Sell	IF BANCORP INC	$12,000	-64.7%	515	-65.7%	0.00%	-60.0%
OSTRW	Exit	OYSTER ENTERPRISES ACQ CORP*w exp 01/20/202	$0	–	-12,500	–	-0.00%	–
ROCRW	Exit	ROTH CH ACQUISITION III CO*w exp 02/26/202	$0	–	-4,999	–	-0.00%	–
JCICW	Exit	JACK CREEK INVESTMENT CORP*w exp 10/01/202	$0	–	-12,499	–	-0.00%	–
EVOJW	Exit	EVO ACQUISITION CORP*w exp 01/04/202	$0	–	-19,999	–	-0.00%	–
BOASWS	Exit	BOA ACQUISITION CORP*w exp 02/22/202	$0	–	-24,998	–	-0.00%	–
EACPW	Exit	EDIFY ACQUISITION CORP*w exp 11/25/202	$0	–	-25,000	–	-0.00%	–
COLIW	Exit	COLICITY INC*w exp 02/24/202	$0	–	-14,999	–	-0.00%	–
BCOW	Exit	1895 BANCORP OF WIS INC	$0	–	-2,000	–	-0.01%	–
PTMN	Exit	PORTMAN RIDGE FIN CORP	$0	–	-52,727	–	-0.02%	–
BRIVU	Exit	B RILEY PRINCIPAL 250 MERGER CORPunit 04/06/2026	$0	–	-44,713	–	-0.07%	–
BW	Exit	BABCOCK & WILCOX ENTERPRISES	$0	–	-168,263	–	-0.21%	–
NTZ	Exit	NATUZZI S P Aspon ads	$0	–	-67,214	–	-0.22%	–
LAAAU	Exit	LAKESHORE ACQUISITION I CORPunit 06/04/2026	$0	–	-200,000	–	-0.33%	–
PWFL	Exit	POWERFLEET INC	$0	–	-352,400	–	-0.41%	–
BRIV	Exit	B RILEY PRINCIPAL 250 MERGER CORP	$0	–	-355,287	–	-0.50%	–
BWAY	Exit	BRAINSWAY LTDsponsored ads	$0	–	-659,333	–	-1.08%	–
LOV	Exit	SPARK NETWORKS SEsponsored adr	$0	–	-1,556,223	–	-1.29%	–
MCF	Exit	CONTANGO OIL & GAS CO	$0	–	-2,186,495	–	-1.52%	–
DV	Exit	DOUBLEVERIFY HLDGS INC	$0	–	-323,673	–	-2.20%	–

Q2 2021

			Value		Shares		↓ Weighting
NOA	New	NORTH AMERN CONSTR GROUP LTD	$40,255,000	–	2,651,822	–	6.46%	–
FRG	New	FRANCHISE GROUP INC	$28,694,000	–	813,551	–	4.60%	–
CRTO	New	CRITEO S Aspons ads	$28,187,000	–	623,200	–	4.52%	–
VVI	New	VIAD CORP	$27,509,000	–	551,843	–	4.41%	–
TTSH	New	TILE SHOP HLDGS INC	$25,959,000	–	3,224,734	–	4.16%	–
HCCI	New	HERITAGE CRYSTAL CLEAN INC	$25,745,000	–	867,419	–	4.13%	–
EVRI	New	EVERI HLDGS INC	$24,414,000	–	978,913	–	3.92%	–
PRTS	New	CARPARTS COM INC	$23,891,000	–	1,173,429	–	3.83%	–
ODP	New	THE ODP CORP	$23,788,000	–	495,483	–	3.82%	–
EMKR	New	EMCORE CORP	$23,602,000	–	2,559,882	–	3.79%	–
IHC	New	INDEPENDENCE HLDG CO NEW	$23,288,000	–	502,760	–	3.74%	–
BBW	New	BUILD-A-BEAR WORKSHOP INC	$22,299,000	–	1,288,224	–	3.58%	–
STIM	New	NEURONETICS INC	$21,024,000	–	1,312,338	–	3.37%	–
SD	New	SANDRIDGE ENERGY INC	$19,900,000	–	3,168,765	–	3.19%	–
SWKH	New	SWK HLDGS CORP	$17,489,000	–	996,519	–	2.81%	–
MNTV	New	MOMENTIVE GLOBAL INC	$17,400,000	–	825,840	–	2.79%	–
OSPN	New	ONESPAN INC	$17,331,000	–	678,568	–	2.78%	–
	New	LEE ENTERPRISES INC	$16,631,000	–	587,681	–	2.67%	–
GOED	New	1847 GOEDEKER INC	$14,316,000	–	3,718,405	–	2.30%	–
DV	New	DOUBLEVERIFY HLDGS INC	$13,704,000	–	323,673	–	2.20%	–
FARM	New	FARMER BROTHERS CO	$13,689,000	–	1,078,729	–	2.20%	–
ARLO	New	ARLO TECHNOLOGIES INC	$13,273,000	–	1,960,573	–	2.13%	–
TBLA	New	TABOOLA.COM LTD	$12,683,000	–	1,225,384	–	2.04%	–
PFMT	New	PERFORMANT FINL CORP	$11,814,000	–	3,150,280	–	1.90%	–
VIAO	New	VIA OPTRONICS AGsponsored ads	$11,730,000	–	1,045,476	–	1.88%	–
ARKO	New	ARKO CORP	$10,859,000	–	1,181,563	–	1.74%	–
INSE	New	INSPIRED ENTMT INC	$9,497,000	–	744,865	–	1.52%	–
MCF	New	CONTANGO OIL & GAS CO	$9,446,000	–	2,186,495	–	1.52%	–
HOG	New	HARLEY DAVIDSON INC	$9,201,000	–	200,810	–	1.48%	–
LOV	New	SPARK NETWORKS SEsponsored adr	$8,061,000	–	1,556,223	–	1.29%	–
SNCR	New	SYNCHRONOSS TECHNOLOGIES INC	$7,993,000	–	2,226,354	–	1.28%	–
BWAY	New	BRAINSWAY LTDsponsored ads	$6,725,000	–	659,333	–	1.08%	–
GOEDWS	New	1847 GOEDEKER INC*w exp 99/99/999	$5,785,000	–	2,703,475	–	0.93%	–
WY	New	WEYERHAEUSER CO MTN BE	$5,256,000	–	152,715	–	0.84%	–
BRIV	New	B RILEY PRINCIPAL 250 MERGER CORP	$3,132,000	–	355,287	–	0.50%	–
PWFL	New	POWERFLEET INC	$2,537,000	–	352,400	–	0.41%	–
NTIP	New	NETWORK-1 TECHNOLOGIES INC	$2,471,000	–	758,044	–	0.40%	–
MNTX	New	MANITEX INTL INC	$2,372,000	–	325,362	–	0.38%	–
AMRK	New	A-MARK PRECIOUS METALS INC	$2,348,000	–	50,500	–	0.38%	–
BRPM	New	B RILEY PRINCIPAL 150 MERGER	$2,322,000	–	238,179	–	0.37%	–
LAAAU	New	LAKESHORE ACQUISITION I CORPunit 06/04/2026	$2,044,000	–	200,000	–	0.33%	–
RMNI	New	RIMINI STR INC DEL	$1,500,000	–	243,471	–	0.24%	–
SIC	New	SELECT INTERIOR CONCEPTS INCcl a	$1,366,000	–	145,329	–	0.22%	–
NTZ	New	NATUZZI S P Aspon ads	$1,356,000	–	67,214	–	0.22%	–
SSKN	New	STRATA SKIN SCIENCES INC	$1,343,000	–	860,825	–	0.22%	–
BW	New	BABCOCK & WILCOX ENTERPRISES	$1,326,000	–	168,263	–	0.21%	–
Y	New	ALLEGHANY CORP MD	$1,160,000	–	1,739	–	0.19%	–
TTP	New	TORTOISE PIPELINE & ENERGY F	$896,000	–	37,439	–	0.14%	–
TYG	New	TORTOISE ENERGY INFRA CORP	$860,000	–	29,897	–	0.14%	–
WM	New	WASTE MGMT INC DEL	$796,000	–	5,684	–	0.13%	–
GEG	New	GREAT ELM GROUP INC	$714,000	–	317,230	–	0.12%	–
SGAMW	New	SEAPORT GLOBAL ACQUISITN COR*w exp 12/15/202	$597,000	–	693,749	–	0.10%	–
DFIN	New	DONNELLEY FINL SOLUTIONS INC	$502,000	–	15,200	–	0.08%	–
BRIVU	New	B RILEY PRINCIPAL 250 MERGER CORPunit 04/06/2026	$445,000	–	44,713	–	0.07%	–
BRPMW	New	B RILEY PRINCIPAL 150 MERGER*w exp 08/01/202	$406,000	–	338,654	–	0.06%	–
PNRG	New	PRIMEENERGY RESOURCES CORP	$291,000	–	6,200	–	0.05%	–
HCARW	New	HEALTHCARE SERVIC ACQU COR*w exp 99/99/999	$267,000	–	300,000	–	0.04%	–
WINA	New	WINMARK CORP	$173,000	–	900	–	0.03%	–
BRIVW	New	B RILEY PRINCIPAL 250 MERGER CORP*w exp 04/01/202	$151,000	–	133,331	–	0.02%	–
PTMN	New	PORTMAN RIDGE FIN CORP	$125,000	–	52,727	–	0.02%	–
KEQU	New	KEWAUNEE SCIENTIFIC CORP	$102,000	–	7,115	–	0.02%	–
CVR	New	CHICAGO RIVET & MACH CO	$64,000	–	2,458	–	0.01%	–
BCOW	New	1895 BANCORP OF WIS INC	$30,000	–	2,000	–	0.01%	–
IROQ	New	IF BANCORP INC	$34,000	–	1,500	–	0.01%	–
COLIW	New	COLICITY INC*w exp 02/24/202	$23,000	–	14,999	–	0.00%	–
BOASWS	New	BOA ACQUISITION CORP*w exp 02/22/202	$21,000	–	24,998	–	0.00%	–
EACPW	New	EDIFY ACQUISITION CORP*w exp 11/25/202	$18,000	–	25,000	–	0.00%	–
JCICW	New	JACK CREEK INVESTMENT CORP*w exp 10/01/202	$10,000	–	12,499	–	0.00%	–
EVOJW	New	EVO ACQUISITION CORP*w exp 01/04/202	$12,000	–	19,999	–	0.00%	–
ROCRW	New	ROTH CH ACQUISITION III CO*w exp 02/26/202	$8,000	–	4,999	–	0.00%	–
OSTRW	New	OYSTER ENTERPRISES ACQ CORP*w exp 01/20/202	$9,000	–	12,500	–	0.00%	–

Q4 2020

			Value		Shares		↓ Weighting
BCOW	Exit	1895 BANCORP OF WIS INC	$0	–	-2,000	–	-0.01%	–
IROQ	Exit	IF BANCORP INC	$0	–	-1,500	–	-0.01%	–
KEQU	Exit	KEWAUNEE SCIENTIFIC CORP	$0	–	-6,065	–	-0.02%	–
FTDR	Exit	FRONTDOOR INC	$0	–	-1,700	–	-0.02%	–
	Exit	LIVE NATION ENTERTAINMENT INnote 2.500% 3/1	$0	–	-90,000	–	-0.04%	–
DRAD	Exit	DIGIRAD CORP	$0	–	-175,851	–	-0.16%	–
WM	Exit	WASTE MGMT INC DEL	$0	–	-5,684	–	-0.24%	–
GEC	Exit	GREAT ELM CAP GROUP INC	$0	–	-317,230	–	-0.27%	–
Y	Exit	ALLEGHANY CORP DEL	$0	–	-1,739	–	-0.33%	–
STIM	Exit	NEURONETICS INC	$0	–	-226,423	–	-0.40%	–
LLNW	Exit	LIMELIGHT NETWORKS INC	$0	–	-217,431	–	-0.46%	–
PSTG	Exit	PURE STORAGE INCcl a	$0	–	-81,465	–	-0.46%	–
MNTX	Exit	MANITEX INTL INC	$0	–	-312,029	–	-0.48%	–
SSKN	Exit	STRATA SKIN SCIENCES INC	$0	–	-1,028,838	–	-0.51%	–
AMRK	Exit	A-MARK PRECIOUS METALS INC	$0	–	-41,300	–	-0.51%	–
NTIP	Exit	NETWORK-1 TECHNOLOGIES INC	$0	–	-758,044	–	-0.74%	–
KRUS	Exit	KURA SUSHI USA INC	$0	–	-156,734	–	-0.75%	–
PPIH	Exit	PERMA PIPE INTL HLDGS INC	$0	–	-364,361	–	-0.75%	–
BMRG	Exit	B RILEY PRIN MERGER CORP IIcl a	$0	–	-211,460	–	-0.77%	–
MCF	Exit	CONTANGO OIL & GAS CO	$0	–	-1,880,506	–	-0.92%	–
AQMS	Exit	AQUA METALS INC	$0	–	-3,257,903	–	-1.08%	–
YELP	Exit	YELP INCcl a	$0	–	-154,363	–	-1.13%	–
BBW	Exit	BUILD A BEAR WORKSHOP	$0	–	-1,355,125	–	-1.24%	–
LEE	Exit	LEE ENTERPRISES INC	$0	–	-4,562,405	–	-1.40%	–
EHTH	Exit	EHEALTH INC	$0	–	-58,624	–	-1.69%	–
WY	Exit	WEYERHAEUSER CO MTN BE	$0	–	-170,338	–	-1.78%	–
SD	Exit	SANDRIDGE ENERGY INC	$0	–	-3,067,845	–	-1.85%	–
CARG	Exit	CARGURUS INC	$0	–	-237,962	–	-1.88%	–
EEFT	Exit	EURONET WORLDWIDE INC	$0	–	-62,526	–	-2.08%	–
RM	Exit	REGIONAL MGMT CORP	$0	–	-356,916	–	-2.17%	–
LOV	Exit	SPARK NETWORKS SEsponsored adr	$0	–	-1,265,049	–	-2.26%	–
RMNI	Exit	RIMINI STR INC DEL	$0	–	-1,954,248	–	-2.30%	–
OSPN	Exit	ONESPAN INC	$0	–	-328,549	–	-2.52%	–
SWKH	Exit	SWK HLDGS CORP	$0	–	-584,108	–	-2.99%	–
EMKR	Exit	EMCORE CORP	$0	–	-2,784,540	–	-3.31%	–
BEAT	Exit	BIOTELEMETRY INC	$0	–	-204,594	–	-3.41%	–
HCCI	Exit	HERITAGE CRYSTAL CLEAN INC	$0	–	-833,117	–	-4.07%	–
PRTS	Exit	CARPARTS COM INC	$0	–	-1,090,379	–	-4.31%	–
PWFL	Exit	POWERFLEET INC	$0	–	-2,098,287	–	-4.32%	–
HNGR	Exit	HANGER INC	$0	–	-767,722	–	-4.44%	–
VVI	Exit	VIAD CORP	$0	–	-622,359	–	-4.74%	–
ARLO	Exit	ARLO TECHNOLOGIES INC	$0	–	-2,530,823	–	-4.87%	–
IHC	Exit	INDEPENDENCE HLDG CO NEW	$0	–	-387,916	–	-5.35%	–
SPWH	Exit	SPORTSMANS WHSE HLDGS INC	$0	–	-1,045,373	–	-5.47%	–
NOA	Exit	NORTH AMERN CONSTR GROUP LTD	$0	–	-2,683,340	–	-6.39%	–
MGNI	Exit	MAGNITE INC	$0	–	-2,670,675	–	-6.78%	–
FRG	Exit	FRANCHISE GROUP INC	$0	–	-895,646	–	-8.31%	–

Q3 2020

			Value		Shares		↓ Weighting
FRG	Sell	FRANCHISE GROUP INC	$22,714,000	+3.0%	895,646	-11.1%	8.31%	+0.4%
MGNI	New	MAGNITE INC	$18,548,000	–	2,670,675	–	6.78%	–
NOA	Buy	NORTH AMERN CONSTR GROUP LTD	$17,469,000	+8.0%	2,683,340	+3.8%	6.39%	+5.3%
SPWH	Sell	SPORTSMANS WHSE HLDGS INC	$14,959,000	-36.6%	1,045,373	-36.9%	5.47%	-38.2%
IHC	Buy	INDEPENDENCE HLDG CO NEW	$14,628,000	+29.8%	387,916	+5.3%	5.35%	+26.5%
ARLO	Sell	ARLO TECHNOLOGIES INC	$13,312,000	+102.0%	2,530,823	-0.9%	4.87%	+97.0%
VVI	Buy	VIAD CORP	$12,964,000	+49.6%	622,359	+36.6%	4.74%	+45.9%
HNGR	Buy	HANGER INC	$12,145,000	+48.8%	767,722	+55.8%	4.44%	+45.0%
PWFL	Buy	POWERFLEET INC	$11,813,000	+28.9%	2,098,287	+5.8%	4.32%	+25.7%
PRTS	New	CARPARTS COM INC	$11,787,000	–	1,090,379	–	4.31%	–
HCCI	Buy	HERITAGE CRYSTAL CLEAN INC	$11,122,000	+28.4%	833,117	+68.0%	4.07%	+25.2%
BEAT	New	BIOTELEMETRY INC	$9,325,000	–	204,594	–	3.41%	–
EMKR	Buy	EMCORE CORP	$9,050,000	+8.7%	2,784,540	+6.3%	3.31%	+6.0%
SWKH	Buy	SWK HLDGS CORP	$8,178,000	+19.2%	584,108	+2.0%	2.99%	+16.2%
OSPN	New	ONESPAN INC	$6,886,000	–	328,549	–	2.52%	–
RMNI	Buy	RIMINI STR INC DEL	$6,293,000	+24.1%	1,954,248	+98.4%	2.30%	+21.0%
LOV	Buy	SPARK NETWORKS SEsponsored adr	$6,186,000	+170.6%	1,265,049	+82.6%	2.26%	+163.9%
RM	Buy	REGIONAL MGMT CORP	$5,946,000	+296.1%	356,916	+321.2%	2.17%	+286.1%
EEFT	New	EURONET WORLDWIDE INC	$5,696,000	–	62,526	–	2.08%	–
CARG	Buy	CARGURUS INC	$5,147,000	+13.6%	237,962	+33.2%	1.88%	+10.8%
SD	Buy	SANDRIDGE ENERGY INC	$5,062,000	+34.8%	3,067,845	+5.4%	1.85%	+31.5%
WY	Buy	WEYERHAEUSER CO MTN BE	$4,858,000	+46.0%	170,338	+15.0%	1.78%	+42.4%
EHTH	New	EHEALTH INC	$4,631,000	–	58,624	–	1.69%	–
BBW	Buy	BUILD A BEAR WORKSHOP	$3,388,000	+28.1%	1,355,125	+11.7%	1.24%	+24.9%
YELP	Sell	YELP INCcl a	$3,101,000	-49.0%	154,363	-41.3%	1.13%	-50.3%
AQMS	Buy	AQUA METALS INC	$2,968,000	+188.2%	3,257,903	+343.0%	1.08%	+181.1%
MCF	Buy	CONTANGO OIL & GAS CO	$2,520,000	-24.9%	1,880,506	+28.3%	0.92%	-26.8%
BMRG	Sell	B RILEY PRIN MERGER CORP IIcl a	$2,117,000	-47.9%	211,460	-44.2%	0.77%	-49.2%
PPIH	Sell	PERMA PIPE INTL HLDGS INC	$2,059,000	-33.6%	364,361	-34.1%	0.75%	-35.3%
KRUS	Buy	KURA SUSHI USA INC	$2,053,000	+97.2%	156,734	+115.0%	0.75%	+92.6%
NTIP	Buy	NETWORK-1 TECHNOLOGIES INC	$2,009,000	+42.4%	758,044	+16.3%	0.74%	+38.9%
AMRK	Sell	A-MARK PRECIOUS METALS INC	$1,393,000	+53.1%	41,300	-13.5%	0.51%	+49.3%
SSKN	Sell	STRATA SKIN SCIENCES INC	$1,389,000	-15.3%	1,028,838	-27.8%	0.51%	-17.4%
MNTX	Buy	MANITEX INTL INC	$1,301,000	-1.1%	312,029	+17.9%	0.48%	-3.4%
PSTG	Sell	PURE STORAGE INCcl a	$1,254,000	-84.3%	81,465	-82.4%	0.46%	-84.7%
LLNW	New	LIMELIGHT NETWORKS INC	$1,252,000	–	217,431	–	0.46%	–
STIM	New	NEURONETICS INC	$1,100,000	–	226,423	–	0.40%	–
Y	New	ALLEGHANY CORP DEL	$905,000	–	1,739	–	0.33%	–
WM	New	WASTE MGMT INC DEL	$643,000	–	5,684	–	0.24%	–
FTDR	Sell	FRONTDOOR INC	$66,000	-99.5%	1,700	-99.5%	0.02%	-99.6%
SREV	Exit	SERVICESOURCE INTL INC	$0	–	-47,444	–	-0.03%	–
JCAP	Exit	JERNIGAN CAP INC	$0	–	-8,650	–	-0.04%	–
	Exit	GOGO INCnote 6.000% 5/1	$0	–	-275,000	–	-0.07%	–
SONM	Exit	SONIM TECHNOLOGIES INC	$0	–	-375,970	–	-0.11%	–
NDP	Exit	TORTOISE ENERGY INDEPENDENC	$0	–	-26,412	–	-0.12%	–
ZIG	Exit	ETF SER SOLUTIONSacquirers fd	$0	–	-37,653	–	-0.30%	–
ONEM	Exit	1LIFE HEALTHCARE INC	$0	–	-46,078	–	-0.63%	–
DXLG	Exit	DESTINATION XL GROUP INC	$0	–	-3,548,709	–	-0.87%	–
MSGE	Exit	MADISON SQUARE GRDN ENTERTNMcl a	$0	–	-58,806	–	-1.65%	–
EXTN	Exit	EXTERRAN CORP	$0	–	-993,767	–	-2.01%	–
TAST	Exit	CARROLS RESTAURANT GROUP INC	$0	–	-1,349,095	–	-2.45%	–
RUBI	Exit	RUBICON PROJ INC	$0	–	-1,112,156	–	-2.78%	–
PRTS	Exit	U.S. AUTO PARTS NETWORK INC	$0	–	-1,644,872	–	-5.34%	–
BFYT	Exit	BENEFYTT TECHNOLOGIES INC	$0	–	-883,378	–	-6.78%	–

Q2 2020

			Value		Shares		↓ Weighting
SPWH	New	SPORTSMANS WHSE HLDGS INC	$23,596,000	–	1,655,828	–	8.85%	–
FRG	New	FRANCHISE GROUP INC	$22,047,000	–	1,007,610	–	8.27%	–
BFYT	New	BENEFYTT TECHNOLOGIES INC	$18,074,000	–	883,378	–	6.78%	–
NOA	New	NORTH AMERN CONSTR GROUP LTD	$16,180,000	–	2,584,668	–	6.07%	–
FTDR	New	FRONTDOOR INC	$14,308,000	–	322,768	–	5.37%	–
PRTS	New	U.S. AUTO PARTS NETWORK INC	$14,245,000	–	1,644,872	–	5.34%	–
IHC	New	INDEPENDENCE HLDG CO NEW	$11,272,000	–	368,486	–	4.23%	–
PWFL	New	POWERFLEET INC	$9,165,000	–	1,983,666	–	3.44%	–
VVI	New	VIAD CORP	$8,663,000	–	455,445	–	3.25%	–
HCCI	New	HERITAGE CRYSTAL CLEAN INC	$8,660,000	–	496,011	–	3.25%	–
EMKR	New	EMCORE CORP	$8,328,000	–	2,618,711	–	3.12%	–
HNGR	New	HANGER INC	$8,162,000	–	492,876	–	3.06%	–
PSTG	New	PURE STORAGE INCcl a	$8,010,000	–	462,219	–	3.00%	–
RUBI	New	RUBICON PROJ INC	$7,418,000	–	1,112,156	–	2.78%	–
SWKH	New	SWK HOLDINGS CORP	$6,861,000	–	572,745	–	2.57%	–
ARLO	New	ARLO TECHNOLOGIES INC	$6,589,000	–	2,553,880	–	2.47%	–
TAST	New	CARROLS RESTAURANT GROUP INC	$6,530,000	–	1,349,095	–	2.45%	–
YELP	New	YELP INCcl a	$6,079,000	–	262,824	–	2.28%	–
EXTN	New	EXTERRAN CORP	$5,356,000	–	993,767	–	2.01%	–
RMNI	New	RIMINI STR INC DEL	$5,072,000	–	984,825	–	1.90%	–
CARG	New	CARGURUS INC	$4,529,000	–	178,653	–	1.70%	–
LEE	New	LEE ENTERPRISES INC	$4,471,000	–	4,562,405	–	1.68%	–
MSGE	New	MADISON SQUARE GRDN ENTERTNMcl a	$4,410,000	–	58,806	–	1.65%	–
BMRG	New	B RILEY PRIN MERGER CORP IIcl a	$4,066,000	–	378,953	–	1.52%	–
SD	New	SANDRIDGE ENERGY INC	$3,755,000	–	2,910,543	–	1.41%	–
MCF	New	CONTANGO OIL & GAS CO	$3,357,000	–	1,465,780	–	1.26%	–
WY	New	WEYERHAEUSER CO MTN BE	$3,327,000	–	148,120	–	1.25%	–
PPIH	New	PERMA PIPE INTL HLDGS INC	$3,101,000	–	552,694	–	1.16%	–
BBW	New	BUILD A BEAR WORKSHOP	$2,645,000	–	1,213,390	–	0.99%	–
DXLG	New	DESTINATION XL GROUP INC	$2,308,000	–	3,548,709	–	0.87%	–
LOV	New	SPARK NETWORKS SEsponsored adr	$2,286,000	–	692,815	–	0.86%	–
ONEM	New	1LIFE HEALTHCARE INC	$1,674,000	–	46,078	–	0.63%	–
SSKN	New	STRATA SKIN SCIENCES INC	$1,639,000	–	1,425,103	–	0.62%	–
RM	New	REGIONAL MGMT CORP	$1,501,000	–	84,739	–	0.56%	–
NTIP	New	NETWORK-1 TECHNOLOGIES INC	$1,411,000	–	651,723	–	0.53%	–
MNTX	New	MANITEX INTL INC	$1,315,000	–	264,566	–	0.49%	–
KRUS	New	KURA SUSHI USA INC	$1,041,000	–	72,896	–	0.39%	–
AQMS	New	AQUA METALS INC	$1,030,000	–	735,381	–	0.39%	–
AMRK	New	A MARK PRECIOUS METALS INC	$910,000	–	47,765	–	0.34%	–
ZIG	New	ETF SER SOLUTIONSacquirers fd	$790,000	–	37,653	–	0.30%	–
GEC	New	GREAT ELM CAP GROUP INC	$739,000	–	317,230	–	0.28%	–
DRAD	New	DIGIRAD CORP	$492,000	–	175,851	–	0.18%	–
NDP	New	TORTOISE ENERGY INDEPENDENC	$308,000	–	26,412	–	0.12%	–
SONM	New	SONIM TECHNOLOGIES INC	$301,000	–	375,970	–	0.11%	–
	New	GOGO INCnote 6.000% 5/1	$195,000	–	275,000	–	0.07%	–
JCAP	New	JERNIGAN CAP INC	$118,000	–	8,650	–	0.04%	–
	New	LIVE NATION ENTERTAINMENT INnote 2.500% 3/1	$92,000	–	90,000	–	0.04%	–
SREV	New	SERVICESOURCE INTL INC	$75,000	–	47,444	–	0.03%	–
KEQU	New	KEWAUNEE SCIENTIFIC CORP	$56,000	–	6,065	–	0.02%	–
IROQ	New	IF BANCORP ORD	$26,000	–	1,500	–	0.01%	–
BCOW	New	1895 BANCORP OF WIS INC	$18,000	–	2,000	–	0.01%	–

Q4 2019

			Value		Shares		↓ Weighting
RH	Exit	RH	$0	–	-1	–	0.00%	–
EHTH	Exit	EHEALTH INC	$0	–	-2,600	–	-0.06%	–
AMRK	Exit	A MARK PRECIOUS METALS INC	$0	–	-22,388	–	-0.09%	–
ZIG	Exit	ETF SER SOLUTIONSacquirers fd	$0	–	-14,750	–	-0.12%	–
SSKN	Exit	STRATA SKIN SCIENCES INC	$0	–	-303,122	–	-0.21%	–
OIH	Exit	VANECK VECTORS ETF TRoil svcs etf	$0	–	-57,872	–	-0.22%	–
BSM	Exit	BLACK STONE MINERALS L P	$0	–	-52,375	–	-0.24%	–
CHMI	Exit	CHERRY HILL MTG INVT CORP	$0	–	-57,121	–	-0.24%	–
DRAD	Exit	DIGIRAD CORP	$0	–	-223,119	–	-0.32%	–
POPE	Exit	POPE RESOURCES A DELAWARE LPdepositry rcpt	$0	–	-14,520	–	-0.33%	–
GEC	Exit	GREAT ELM CAP GROUP INC	$0	–	-317,230	–	-0.38%	–
CLDR	Exit	CLOUDERA INC	$0	–	-139,976	–	-0.40%	–
MNTX	Exit	MANITEX INTL INC	$0	–	-215,249	–	-0.46%	–
NTIP	Exit	NETWORK 1 TECHNOLOGIES INC	$0	–	-651,723	–	-0.49%	–
PNTR	Exit	POINTER TELOCATION LTD	$0	–	-106,697	–	-0.52%	–
PRGX	Exit	PRGX GLOBAL INC	$0	–	-332,358	–	-0.56%	–
PRTS	Exit	U.S. AUTO PARTS NETWORK INC	$0	–	-1,175,565	–	-0.59%	–
CARB	Exit	CARBONITE INC	$0	–	-158,614	–	-0.80%	–
HSON	Exit	HUDSON GLOBAL INC	$0	–	-229,074	–	-0.91%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-14,438	–	-0.97%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-11	–	-1.11%	–
ITI	Exit	ITERIS INC	$0	–	-700,000	–	-1.30%	–
WY	Exit	WEYERHAEUSER CO	$0	–	-148,120	–	-1.33%	–
ARTX	Exit	AROTECH CORP	$0	–	-1,425,953	–	-1.36%	–
EMKR	Exit	EMCORE CORP	$0	–	-1,591,930	–	-1.59%	–
PPIH	Exit	PERMA PIPE INTL HLDGS INC	$0	–	-600,396	–	-1.88%	–
SREV	Exit	SERVICESOURCE INTL INC	$0	–	-6,634,564	–	-1.89%	–
BREW	Exit	CRAFT BREW ALLIANCE INC	$0	–	-838,606	–	-2.23%	–
ARLO	Exit	ARLO TECHNOLOGIES INC	$0	–	-2,163,691	–	-2.39%	–
HCCI	Exit	HERITAGE CRYSTAL CLEAN INC	$0	–	-301,762	–	-2.60%	–
IHC	Exit	INDEPENDENCE HLDG CO NEW	$0	–	-230,427	–	-2.88%	–
DXLG	Exit	DESTINATION XL GROUP INC	$0	–	-5,413,680	–	-2.97%	–
INSG	Exit	INSEEGO CORP	$0	–	-1,920,958	–	-2.99%	–
VCYT	Exit	VERACYTE INC	$0	–	-387,288	–	-3.02%	–
LEE	Exit	LEE ENTERPRISES INC	$0	–	-4,574,597	–	-3.03%	–
SPWH	Exit	SPORTSMANS WHSE HLDGS INC	$0	–	-1,965,566	–	-3.30%	–
SD	Exit	SANDRIDGE ENERGY INC	$0	–	-2,168,444	–	-3.31%	–
SIEN	Exit	SIENTRA INC	$0	–	-1,941,673	–	-4.08%	–
LLNW	Exit	LIMELIGHT NETWORKS INC	$0	–	-4,276,943	–	-4.20%	–
EXTN	Exit	EXTERRAN CORP	$0	–	-1,039,701	–	-4.41%	–
IDSY	Exit	I D SYSTEMS INC	$0	–	-2,660,796	–	-4.72%	–
HNGR	Exit	HANGER INC	$0	–	-799,875	–	-5.29%	–
FTDR	Exit	FRONTDOOR INC	$0	–	-368,274	–	-5.80%	–
TAST	Exit	CARROLS RESTAURANT GROUP INC	$0	–	-2,628,193	–	-7.07%	–
HIIQ	Exit	HEALTH INS INNOVATIONS INC	$0	–	-1,045,131	–	-8.45%	–
NOA	Exit	NORTH AMERN CONSTR GROUP LTD	$0	–	-2,368,709	–	-8.86%	–

Q3 2019

			Value		Shares		↓ Weighting
NOA	Sell	NORTH AMERN CONSTR GROUP LTD	$27,311,000	-3.9%	2,368,709	-9.9%	8.86%	+10.1%
HIIQ	Buy	HEALTH INS INNOVATIONS INC	$26,055,000	-0.9%	1,045,131	+3.0%	8.45%	+13.4%
TAST	Buy	CARROLS RESTAURANT GROUP INC	$21,788,000	+15.3%	2,628,193	+25.6%	7.07%	+32.0%
FTDR	Sell	FRONTDOOR INC	$17,887,000	-38.9%	368,274	-45.2%	5.80%	-30.0%
HNGR	Sell	HANGER INC	$16,301,000	-18.3%	799,875	-23.2%	5.29%	-6.5%
EXTN	Buy	EXTERRAN CORP	$13,578,000	+7.5%	1,039,701	+17.1%	4.41%	+23.1%
LLNW	Buy	LIMELIGHT NETWORKS INC	$12,959,000	+13.2%	4,276,943	+0.9%	4.20%	+29.5%
SIEN	Buy	SIENTRA INC	$12,582,000	+197.4%	1,941,673	+182.7%	4.08%	+240.5%
SD	Buy	SANDRIDGE ENERGY INC	$10,192,000	-26.9%	2,168,444	+7.7%	3.31%	-16.3%
SPWH	Sell	SPORTSMANS WHSE HLDGS INC	$10,182,000	+16.7%	1,965,566	-14.9%	3.30%	+33.5%
LEE	Buy	LEE ENTERPRISES INC	$9,332,000	+30.9%	4,574,597	+43.8%	3.03%	+49.9%
VCYT	Sell	VERACYTE INC	$9,295,000	-26.9%	387,288	-13.2%	3.02%	-16.4%
INSG	Buy	INSEEGO CORP	$9,221,000	+35.5%	1,920,958	+35.2%	2.99%	+55.1%
DXLG	Buy	DESTINATION XL GROUP INC	$9,149,000	-4.0%	5,413,680	+0.0%	2.97%	+10.0%
IHC	Buy	INDEPENDENCE HLDG CO NEW	$8,892,000	+24.8%	230,427	+25.3%	2.88%	+42.9%
HCCI	Buy	HERITAGE CRYSTAL CLEAN INC	$7,997,000	+17.1%	301,762	+16.2%	2.60%	+34.0%
ARLO	Buy	ARLO TECHNOLOGIES INC	$7,378,000	+73.2%	2,163,691	+103.7%	2.39%	+98.3%
PPIH	Sell	PERMA PIPE INTL HLDGS INC	$5,782,000	-9.1%	600,396	-14.1%	1.88%	+4.0%
EMKR	New	EMCORE CORP	$4,887,000	–	1,591,930	–	1.59%	–
WY	Sell	WEYERHAEUSER CO	$4,103,000	-5.1%	148,120	-9.7%	1.33%	+8.7%
ITI	Buy	ITERIS INC	$4,022,000	+55.6%	700,000	+40.0%	1.30%	+78.0%
BRKA	Sell	BERKSHIRE HATHAWAY INC DELcl a	$3,430,000	-46.1%	11	-45.0%	1.11%	-38.3%
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$3,003,000	-31.2%	14,438	-29.5%	0.97%	-21.3%
HSON	Sell	HUDSON GLOBAL INC	$2,804,000	-1.7%	229,074	-0.0%	0.91%	+12.6%
CARB	Sell	CARBONITE INC	$2,457,000	-58.5%	158,614	-30.2%	0.80%	-52.5%
PRGX	Sell	PRGX GLOBAL INC	$1,712,000	-69.9%	332,358	-60.7%	0.56%	-65.5%
PNTR	Buy	POINTER TELOCATION LTD	$1,605,000	+1.3%	106,697	+2.7%	0.52%	+16.0%
MNTX	Buy	MANITEX INTL INC	$1,431,000	+30.3%	215,249	+19.8%	0.46%	+49.2%
CLDR	New	CLOUDERA INC	$1,240,000	–	139,976	–	0.40%	–
GEC	Buy	GREAT ELM CAP GROUP INC	$1,164,000	+4.4%	317,230	+22.3%	0.38%	+19.6%
OIH	New	VANECK VECTORS ETF TRoil svcs etf	$680,000	–	57,872	–	0.22%	–
SSKN	New	STRATA SKIN SCIENCES INC	$652,000	–	303,122	–	0.21%	–
ZIG	Buy	ETF SER SOLUTIONSacquirers fd	$365,000	+2707.7%	14,750	+2850.0%	0.12%	+2850.0%
AMRK	Buy	A MARK PRECIOUS METALS INC	$270,000	-4.3%	22,388	+3.7%	0.09%	+10.0%
EHTH	New	EHEALTH INC	$174,000	–	2,600	–	0.06%	–
CSLT	Exit	CASTLIGHT HEALTH INCcl b	$0	–	-265,543	–	-0.24%	–
VRTSP	Exit	VIRTUS INVT PARTNERS INCpfd cv ser d	$0	–	-10,570	–	-0.28%	–
REI	Exit	RING ENERGY INC	$0	–	-511,649	–	-0.47%	–
NVTRQ	Exit	NUVECTRA CORP	$0	–	-823,298	–	-0.78%	–
TST	Exit	THESTREET INC	$0	–	-577,260	–	-1.00%	–
TLRA	Exit	TELARIA INC	$0	–	-759,094	–	-1.62%	–
SONM	Exit	SONIM TECHNOLOGIES INC	$0	–	-499,800	–	-1.80%	–
CDLX	Exit	CARDLYTICS INC	$0	–	-626,975	–	-4.62%	–

Q2 2019

			Value		Shares		↓ Weighting
FTDR	New	FRONTDOOR INC	$29,252,000	–	671,684	–	8.29%	–
NOA	New	NORTH AMERN CONSTR GROUP LTD	$28,408,000	–	2,630,360	–	8.05%	–
HIIQ	New	HEALTH INS INNOVATIONS INC	$26,299,000	–	1,014,638	–	7.46%	–
HNGR	New	HANGER INC	$19,951,000	–	1,041,811	–	5.66%	–
TAST	New	CARROLS RESTAURANT GROUP INC	$18,903,000	–	2,093,319	–	5.36%	–
CDLX	New	CARDLYTICS INC	$16,289,000	–	626,975	–	4.62%	–
IDSY	New	I D SYSTEMS INC	$15,645,000	–	2,660,796	–	4.44%	–
SD	New	SANDRIDGE ENERGY INC	$13,934,000	–	2,013,542	–	3.95%	–
VCYT	New	VERACYTE INC	$12,724,000	–	446,306	–	3.61%	–
EXTN	New	EXTERRAN CORP	$12,631,000	–	888,237	–	3.58%	–
BREW	New	CRAFT BREW ALLIANCE INC	$11,732,000	–	838,606	–	3.33%	–
LLNW	New	LIMELIGHT NETWORKS INC	$11,450,000	–	4,240,752	–	3.25%	–
DXLG	New	DESTINATION XL GROUP INC	$9,526,000	–	5,412,754	–	2.70%	–
SPWH	New	SPORTSMANS WHSE HLDGS INC	$8,728,000	–	2,309,108	–	2.47%	–
LEE	New	LEE ENTERPRISES INC	$7,127,000	–	3,181,730	–	2.02%	–
IHC	New	INDEPENDENCE HLDG CO NEW	$7,123,000	–	183,957	–	2.02%	–
HCCI	New	HERITAGE CRYSTAL CLEAN INC	$6,831,000	–	259,647	–	1.94%	–
INSG	New	INSEEGO CORP	$6,807,000	–	1,421,078	–	1.93%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$6,367,000	–	20	–	1.80%	–
PPIH	New	PERMA PIPE INTL HLDGS INC	$6,363,000	–	699,207	–	1.80%	–
SONM	New	SONIM TECHNOLOGIES INC	$6,362,000	–	499,800	–	1.80%	–
SREV	New	SERVICESOURCE INTL INC	$6,303,000	–	6,634,564	–	1.79%	–
CARB	New	CARBONITE INC	$5,921,000	–	227,390	–	1.68%	–
TLRA	New	TELARIA INC	$5,708,000	–	759,094	–	1.62%	–
PRGX	New	PRGX GLOBAL INC	$5,683,000	–	845,665	–	1.61%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$4,364,000	–	20,470	–	1.24%	–
WY	New	WEYERHAEUSER CO	$4,323,000	–	164,120	–	1.22%	–
ARLO	New	ARLO TECHNOLOGIES INC	$4,259,000	–	1,062,125	–	1.21%	–
SIEN	New	SIENTRA INC	$4,230,000	–	686,764	–	1.20%	–
TST	New	THESTREET INC	$3,539,000	–	577,260	–	1.00%	–
HSON	New	HUDSON GLOBAL INC	$2,852,000	–	229,075	–	0.81%	–
ARTX	New	AROTECH CORP	$2,838,000	–	1,425,953	–	0.80%	–
NVTRQ	New	NUVECTRA CORP	$2,758,000	–	823,298	–	0.78%	–
ITI	New	ITERIS INC	$2,585,000	–	500,000	–	0.73%	–
REI	New	RING ENERGY INC	$1,663,000	–	511,649	–	0.47%	–
NTIP	New	NETWORK 1 TECHNOLOGIES INC	$1,629,000	–	651,723	–	0.46%	–
PNTR	New	POINTER TELOCATION LTD	$1,584,000	–	103,850	–	0.45%	–
DRAD	New	DIGIRAD CORP	$1,542,000	–	223,119	–	0.44%	–
PRTS	New	U.S. AUTO PARTS NETWORK INC	$1,469,000	–	1,175,565	–	0.42%	–
GEC	New	GREAT ELM CAP GROUP INC	$1,115,000	–	259,299	–	0.32%	–
MNTX	New	MANITEX INTL INC	$1,098,000	–	179,649	–	0.31%	–
VRTSP	New	VIRTUS INVT PARTNERS INCpfd cv ser d	$1,003,000	–	10,570	–	0.28%	–
POPE	New	POPE RESOURCES A DELAWARE LPdepositry rcpt	$990,000	–	14,520	–	0.28%	–
CHMI	New	CHERRY HILL MTG INVT CORP	$914,000	–	57,121	–	0.26%	–
CSLT	New	CASTLIGHT HEALTH INCcl b	$858,000	–	265,543	–	0.24%	–
BSM	New	BLACK STONE MINERALS L P	$812,000	–	52,375	–	0.23%	–
AMRK	New	A MARK PRECIOUS METALS INC	$282,000	–	21,587	–	0.08%	–
ZIG	New	ETF SER SOLUTIONSacquirers fd	$13,000	–	500	–	0.00%	–
RH	New	RH	$0	–	1	–	0.00%	–

Q4 2018

			Value		Shares		↓ Weighting
AMRK	Exit	A MARK PRECIOUS METALS INC	$0	–	-12,690	–	-0.04%	–
TACOW	Exit	DEL TACO RESTAURANTS INC*w exp 06/30/202	$0	–	-132,571	–	-0.08%	–
ECOM	Exit	CHANNELADVISOR CORP	$0	–	-33,597	–	-0.11%	–
	Exit	AEGEAN MARINE PETE NETWORK Inote 4.250%12/1	$0	–	-850,000	–	-0.12%	–
HPT	Exit	HOSPITALITY PPTYS TR	$0	–	-17,929	–	-0.14%	–
FNWB	Exit	FIRST NORTHWEST BANCORP	$0	–	-34,076	–	-0.14%	–
GEC	Exit	GREAT ELM CAP GROUP INC	$0	–	-259,299	–	-0.22%	–
BSM	Exit	BLACK STONE MINERALS L P	$0	–	-52,375	–	-0.25%	–
CHMI	Exit	CHERRY HILL MTG INVT CORP	$0	–	-57,121	–	-0.28%	–
VRTSP	Exit	VIRTUS INVT PARTNERS INCpfd cv ser d	$0	–	-10,570	–	-0.28%	–
POPE	Exit	POPE RES DEL LTD PARTNERSHIPdepositry rcpt	$0	–	-14,520	–	-0.28%	–
MNTX	Exit	MANITEX INTL INC	$0	–	-104,663	–	-0.29%	–
SPLP	Exit	STEEL PARTNERS HLDGS L Pltd prtrship u	$0	–	-67,907	–	-0.30%	–
EMKR	Exit	EMCORE CORP	$0	–	-258,191	–	-0.33%	–
	Exit	HORIZON GLOBAL CORPnote 2.750% 7/0	$0	–	-1,750,000	–	-0.35%	–
PCOM	Exit	POINTS INTL LTD	$0	–	-96,549	–	-0.36%	–
URA	Exit	GLOBAL X FDSglobal x uranium	$0	–	-101,948	–	-0.36%	–
	Exit	AEGEAN MARINE PETE NETWORK Inote 4.000%11/0	$0	–	-1,874,000	–	-0.39%	–
WY	Exit	WEYERHAEUSER CO	$0	–	-52,386	–	-0.45%	–
NTIP	Exit	NETWORK 1 TECHNOLOGIES INC	$0	–	-651,723	–	-0.47%	–
PRTS	Exit	U.S. AUTO PARTS NETWORK INC	$0	–	-1,175,565	–	-0.48%	–
ANWWQ	Exit	AEGEAN MARINE PETROLEUM NETW	$0	–	-1,330,432	–	-0.51%	–
JCAP	Exit	JERNIGAN CAP INC	$0	–	-128,192	–	-0.66%	–
	Exit	AVID TECHNOLOGY INCnote 2.000% 6/1	$0	–	-3,600,000	–	-0.86%	–
DRAD	Exit	DIGIRAD CORP	$0	–	-2,231,136	–	-0.89%	–
HSON	Exit	HUDSON GLOBAL INC	$0	–	-2,222,184	–	-0.94%	–
RM	Exit	REGIONAL MGMT CORP	$0	–	-155,888	–	-1.19%	–
IHC	Exit	INDEPENDENCE HLDG CO NEW	$0	–	-136,810	–	-1.30%	–
SREV	Exit	SERVICESOURCE INTL INC	$0	–	-1,859,901	–	-1.41%	–
PPIH	Exit	PERMA PIPE INTL HLDGS INC	$0	–	-598,611	–	-1.45%	–
LEE	Exit	LEE ENTERPRISES INC	$0	–	-2,067,229	–	-1.46%	–
HBP	Exit	HUTTIG BLDG PRODS INC	$0	–	-1,299,999	–	-1.46%	–
PRGX	Exit	PRGX GLOBAL INC	$0	–	-677,818	–	-1.57%	–
ARTX	Exit	AROTECH CORP	$0	–	-1,817,418	–	-1.64%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-28,880	–	-1.64%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-20	–	-1.70%	–
BBW	Exit	BUILD A BEAR WORKSHOP	$0	–	-775,972	–	-1.87%	–
INAPQ	Exit	INTERNAP CORP	$0	–	-590,028	–	-1.98%	–
TST	Exit	THESTREET INC	$0	–	-3,426,548	–	-2.00%	–
SPA	Exit	SPARTON CORP	$0	–	-553,788	–	-2.12%	–
SPWH	Exit	SPORTSMANS WHSE HLDGS INC	$0	–	-1,537,184	–	-2.39%	–
SD	Exit	SANDRIDGE ENERGY INC	$0	–	-893,242	–	-2.58%	–
TACO	Exit	DEL TACO RESTAURANTS INC	$0	–	-834,032	–	-2.62%	–
BREW	Exit	CRAFT BREW ALLIANCE INC	$0	–	-619,551	–	-2.69%	–
DXLG	Exit	DESTINATION XL GROUP INC	$0	–	-4,920,077	–	-3.27%	–
HNGR	Exit	HANGER INC	$0	–	-693,040	–	-3.84%	–
IDSY	Exit	I D SYSTEMS INC	$0	–	-2,092,490	–	-3.86%	–
IVTY	Exit	INVUITY INC	$0	–	-2,054,374	–	-4.04%	–
EXTN	Exit	EXTERRAN CORP	$0	–	-586,452	–	-4.13%	–
HCCI	Exit	HERITAGE CRYSTAL CLEAN INC	$0	–	-739,035	–	-4.19%	–
REI	Exit	RING ENERGY INC	$0	–	-1,620,516	–	-4.27%	–
VCYT	Exit	VERACYTE INC	$0	–	-1,759,737	–	-4.46%	–
EHTH	Exit	EHEALTH INC	$0	–	-638,259	–	-4.79%	–
TAST	Exit	CARROLS RESTAURANT GROUP INC	$0	–	-1,281,215	–	-4.97%	–
HIIQ	Exit	HEALTH INS INNOVATIONS INC	$0	–	-466,007	–	-7.63%	–
NOA	Exit	NORTH AMERICAN CONST	$0	–	-3,034,168	–	-7.90%	–

Q3 2018

			Value		Shares		↓ Weighting
HIIQ	Sell	HEALTH INS INNOVATIONS INC	$28,729,000	-40.9%	466,007	-69.0%	7.63%	+19.5%
TAST	Sell	CARROLS RESTAURANT GROUP INC	$18,706,000	-59.9%	1,281,215	-59.2%	4.97%	-18.8%
EHTH	Sell	EHEALTH INC	$18,037,000	-60.4%	638,259	-69.0%	4.79%	-19.8%
VCYT	Sell	VERACYTE INC	$16,805,000	-62.7%	1,759,737	-63.5%	4.46%	-24.5%
REI	Sell	RING ENERGY INC	$16,059,000	-59.8%	1,620,516	-48.8%	4.27%	-18.7%
HCCI	Sell	HERITAGE CRYSTAL CLEAN INC	$15,778,000	-43.1%	739,035	-46.5%	4.19%	+15.1%
EXTN	Sell	EXTERRAN CORP	$15,559,000	-37.7%	586,452	-41.2%	4.13%	+26.0%
IVTY	Sell	INVUITY INC	$15,202,000	+30.1%	2,054,374	-31.4%	4.04%	+163.3%
IDSY	Sell	I D SYSTEMS INC	$14,543,000	-43.6%	2,092,490	-49.7%	3.86%	+14.2%
HNGR	New	HANGER INC	$14,436,000	–	693,040	–	3.84%	–
DXLG	Sell	DESTINATION XL GROUP INC	$12,300,000	-41.7%	4,920,077	-47.6%	3.27%	+17.9%
BREW	Sell	CRAFT BREW ALLIANCE INC	$10,130,000	-59.3%	619,551	-48.6%	2.69%	-17.5%
TACO	Sell	DEL TACO RESTAURANTS INC	$9,850,000	-62.4%	834,032	-54.8%	2.62%	-23.9%
SD	Sell	SANDRIDGE ENERGY INC	$9,710,000	-71.4%	893,242	-53.4%	2.58%	-42.2%
SPWH	Buy	SPORTSMANS WHSE HLDGS INC	$8,993,000	+143.1%	1,537,184	+112.7%	2.39%	+391.6%
SPA	Sell	SPARTON CORP	$7,991,000	-53.0%	553,788	-38.2%	2.12%	-5.0%
TST	Sell	THESTREET INC	$7,538,000	-40.9%	3,426,548	-41.5%	2.00%	+19.6%
INAPQ	Sell	INTERNAP CORP	$7,452,000	-59.1%	590,028	-66.3%	1.98%	-17.3%
BBW	Sell	BUILD A BEAR WORKSHOP	$7,023,000	-48.8%	775,972	-57.0%	1.87%	+3.7%
BRKA	Sell	BERKSHIRE HATHAWAY INC DELcl a	$6,400,000	-43.3%	20	-50.0%	1.70%	+14.8%
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$6,183,000	-38.6%	28,880	-46.5%	1.64%	+24.3%
ARTX	Sell	AROTECH CORP	$6,179,000	-54.7%	1,817,418	-50.0%	1.64%	-8.3%
PRGX	Sell	PRGX GLOBAL INC	$5,897,000	-54.0%	677,818	-48.7%	1.57%	-6.9%
HBP	Sell	HUTTIG BLDG PRODS INC	$5,486,000	-53.8%	1,299,999	-48.0%	1.46%	-6.5%
LEE	Sell	LEE ENTERPRISES INC	$5,478,000	-53.5%	2,067,229	-50.0%	1.46%	-5.9%
PPIH	Sell	PERMA PIPE INTL HLDGS INC	$5,447,000	-51.3%	598,611	-50.0%	1.45%	-1.6%
SREV	Sell	SERVICESOURCE INTL INC	$5,301,000	-35.0%	1,859,901	-10.1%	1.41%	+31.6%
IHC	Sell	INDEPENDENCE HLDG CO NEW	$4,911,000	-5.4%	136,810	-12.4%	1.30%	+91.3%
RM	New	REGIONAL MGMT CORP	$4,494,000	–	155,888	–	1.19%	–
HSON	Sell	HUDSON GLOBAL INC	$3,533,000	-45.8%	2,222,184	-44.8%	0.94%	+9.7%
DRAD	Sell	DIGIRAD CORP	$3,347,000	-50.1%	2,231,136	-48.4%	0.89%	+1.0%
	Sell	AVID TECHNOLOGY INCnote 2.000% 6/1	$3,222,000	-50.0%	3,600,000	-50.0%	0.86%	+1.2%
JCAP	Sell	JERNIGAN CAP INC	$2,473,000	-35.1%	128,192	-35.9%	0.66%	+31.1%
ANWWQ	New	AEGEAN MARINE PETROLEUM NETW	$1,903,000	–	1,330,432	–	0.51%	–
PRTS	Sell	U.S. AUTO PARTS NETWORK INC	$1,822,000	-48.3%	1,175,565	-50.0%	0.48%	+4.5%
NTIP	Sell	NETWORK 1 TECHNOLOGIES INC	$1,760,000	-56.4%	651,723	-50.0%	0.47%	-11.7%
WY	Sell	WEYERHAEUSER CO	$1,690,000	-47.8%	52,386	-41.0%	0.45%	+5.6%
	New	AEGEAN MARINE PETE NETWORK Inote 4.000%11/0	$1,452,000	–	1,874,000	–	0.39%	–
URA	Buy	GLOBAL X FDSglobal x uranium	$1,357,000	+70.1%	101,948	+64.2%	0.36%	+243.8%
PCOM	Sell	POINTS INTL LTD	$1,356,000	-91.6%	96,549	-90.2%	0.36%	-83.1%
	Sell	HORIZON GLOBAL CORPnote 2.750% 7/0	$1,305,000	-46.6%	1,750,000	-50.0%	0.35%	+8.1%
EMKR	Sell	EMCORE CORP	$1,226,000	-86.0%	258,191	-85.1%	0.33%	-71.6%
SPLP	Sell	STEEL PARTNERS HLDGS L Pltd prtrship u	$1,134,000	-34.9%	67,907	-34.3%	0.30%	+31.4%
MNTX	Sell	MANITEX INTL INC	$1,102,000	-56.6%	104,663	-48.6%	0.29%	-12.0%
POPE	Sell	POPE RES DEL LTD PARTNERSHIPdepositry rcpt	$1,053,000	-50.7%	14,520	-50.0%	0.28%	0.0%
VRTSP	Sell	VIRTUS INVT PARTNERS INCpfd cv ser d	$1,049,000	-54.7%	10,570	-50.0%	0.28%	-8.2%
CHMI	Sell	CHERRY HILL MTG INVT CORP	$1,034,000	-49.3%	57,121	-50.0%	0.28%	+2.6%
BSM	Sell	BLACK STONE MINERALS L P	$954,000	-50.7%	52,375	-50.0%	0.25%	-0.4%
GEC	Sell	GREAT ELM CAP GROUP INC	$843,000	-54.8%	259,299	-50.0%	0.22%	-8.6%
FNWB	Sell	FIRST NORTHWEST BANCORP	$525,000	-51.7%	34,076	-50.0%	0.14%	-2.8%
HPT	Sell	HOSPITALITY PPTYS TR	$517,000	-49.6%	17,929	-50.0%	0.14%	+1.5%
	New	AEGEAN MARINE PETE NETWORK Inote 4.250%12/1	$468,000	–	850,000	–	0.12%	–
ECOM	New	CHANNELADVISOR CORP	$418,000	–	33,597	–	0.11%	–
TACOW	Sell	DEL TACO RESTAURANTS INC*w exp 06/30/202	$305,000	-70.5%	132,571	-50.0%	0.08%	-40.4%
AMRK	Sell	A MARK PRECIOUS METALS INC	$165,000	-50.3%	12,690	-49.2%	0.04%	0.0%
MGI	Exit	MONEYGRAM INTL INC	$0	–	-11,410	–	-0.01%	–
RUBI	Exit	RUBICON PROJ INC	$0	–	-125,448	–	-0.05%	–
JYNT	Exit	JOINT CORP	$0	–	-45,964	–	-0.05%	–
	Exit	SERVICESOURCE INTL INCnote 1.500% 8/0	$0	–	-2,000,000	–	-0.26%	–
CSWI	Exit	CSW INDUSTRIALS INC	$0	–	-37,302	–	-0.26%	–
	Exit	CHART INDS INCnote 2.000% 8/0	$0	–	-2,000,000	–	-0.26%	–
PNTR	Exit	POINTER TELOCATION LTD	$0	–	-289,870	–	-0.46%	–
SIEN	Exit	SIENTRA INC	$0	–	-267,706	–	-0.69%	–
PGTI	Exit	PGT INNOVATIONS INC	$0	–	-297,746	–	-0.82%	–
NWL	Exit	NEWELL BRANDS INC	$0	–	-318,958	–	-1.08%	–
TAXA	Exit	LIBERTY TAX INCcl a	$0	–	-1,742,136	–	-1.85%	–
BEAT	Exit	BIOTELEMETRY INC	$0	–	-343,524	–	-2.03%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-305,034	–	-2.64%	–

Q2 2018

			Value		Shares		↓ Weighting
HIIQ	New	HEALTH INS INNOVATIONS INC	$48,642,000	–	1,503,586	–	6.39%	–
TAST	New	CARROLS RESTAURANT GROUP INC	$46,628,000	–	3,139,992	–	6.12%	–
EHTH	New	EHEALTH INC	$45,520,000	–	2,059,708	–	5.98%	–
VCYT	New	VERACYTE INC	$45,062,000	–	4,824,688	–	5.92%	–
REI	New	RING ENERGY INC	$39,952,000	–	3,165,798	–	5.25%	–
SD	New	SANDRIDGE ENERGY INC	$33,970,000	–	1,914,854	–	4.46%	–
HCCI	New	HERITAGE CRYSTAL CLEAN INC	$27,746,000	–	1,380,398	–	3.64%	–
TACO	New	DEL TACO RESTAURANTS INC	$26,192,000	–	1,847,050	–	3.44%	–
IDSY	New	I D SYSTEMS INC	$25,770,000	–	4,163,150	–	3.38%	–
EXTN	New	EXTERRAN CORP	$24,986,000	–	997,858	–	3.28%	–
BREW	New	CRAFT BREW ALLIANCE INC	$24,868,000	–	1,204,296	–	3.26%	–
DXLG	New	DESTINATION XL GROUP INC	$21,108,000	–	9,381,158	–	2.77%	–
DWDP	New	DOWDUPONT INC	$20,108,000	–	305,034	–	2.64%	–
INAPQ	New	INTERNAP CORP	$18,240,000	–	1,750,416	–	2.40%	–
NOA	New	NORTH AMERICAN CONST	$18,053,000	–	3,034,168	–	2.37%	–
SPA	New	SPARTON CORP	$17,020,000	–	896,270	–	2.24%	–
PCOM	New	POINTS INTL LTD	$16,188,000	–	983,500	–	2.12%	–
BEAT	New	BIOTELEMETRY INC	$15,458,000	–	343,524	–	2.03%	–
TAXA	New	LIBERTY TAX INCcl a	$14,068,000	–	1,742,136	–	1.85%	–
BBW	New	BUILD A BEAR WORKSHOP	$13,706,000	–	1,803,454	–	1.80%	–
ARTX	New	AROTECH CORP	$13,630,000	–	3,634,836	–	1.79%	–
PRGX	New	PRGX GLOBAL INC	$12,826,000	–	1,322,368	–	1.68%	–
TST	New	THESTREET INC	$12,758,000	–	5,852,514	–	1.68%	–
HBP	New	HUTTIG BLDG PRODS INC	$11,876,000	–	2,500,000	–	1.56%	–
LEE	New	LEE ENTERPRISES INC	$11,784,000	–	4,134,458	–	1.55%	–
IVTY	New	INVUITY INC	$11,684,000	–	2,996,068	–	1.53%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$11,282,000	–	40	–	1.48%	–
PPIH	New	PERMA PIPE INTL HLDGS INC	$11,194,000	–	1,197,222	–	1.47%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$10,066,000	–	53,932	–	1.32%	–
EMKR	New	EMCORE CORP	$8,742,000	–	1,731,156	–	1.15%	–
NWL	New	NEWELL BRANDS INC	$8,226,000	–	318,958	–	1.08%	–
SREV	New	SERVICESOURCE INTL INC	$8,150,000	–	2,068,548	–	1.07%	–
DRAD	New	DIGIRAD CORP	$6,702,000	–	4,323,484	–	0.88%	–
HSON	New	HUDSON GLOBAL INC	$6,520,000	–	4,024,806	–	0.86%	–
	New	AVID TECHNOLOGY INCnote 2.000% 6/1	$6,444,000	–	7,200,000	–	0.85%	–
PGTI	New	PGT INNOVATIONS INC	$6,208,000	–	297,746	–	0.82%	–
SIEN	New	SIENTRA INC	$5,222,000	–	267,706	–	0.69%	–
IHC	New	INDEPENDENCE HLDG CO NEW	$5,192,000	–	156,144	–	0.68%	–
NTIP	New	NETWORK 1 TECHNOLOGIES INC	$4,040,000	–	1,303,446	–	0.53%	–
JCAP	New	JERNIGAN CAP INC	$3,812,000	–	199,980	–	0.50%	–
SPWH	New	SPORTSMANS WHSE HLDGS INC	$3,700,000	–	722,560	–	0.49%	–
PRTS	New	U.S. AUTO PARTS NETWORK INC	$3,526,000	–	2,351,130	–	0.46%	–
PNTR	New	POINTER TELOCATION LTD	$3,478,000	–	289,870	–	0.46%	–
WY	New	WEYERHAEUSER CO	$3,237,000	–	88,772	–	0.42%	–
MNTX	New	MANITEX INTL INC	$2,540,000	–	203,516	–	0.33%	–
	New	HORIZON GLOBAL CORPnote 2.750% 7/0	$2,446,000	–	3,500,000	–	0.32%	–
VRTSP	New	VIRTUS INVT PARTNERS INCpfd cv ser d	$2,316,000	–	21,140	–	0.30%	–
POPE	New	POPE RES DEL LTD PARTNERSHIPdepositry rcpt	$2,134,000	–	29,040	–	0.28%	–
CHMI	New	CHERRY HILL MTG INVT CORP	$2,040,000	–	114,242	–	0.27%	–
	New	CHART INDS INCnote 2.000% 8/0	$2,016,000	–	2,000,000	–	0.26%	–
CSWI	New	CSW INDUSTRIALS INC	$1,972,000	–	37,302	–	0.26%	–
	New	SERVICESOURCE INTL INCnote 1.500% 8/0	$1,954,000	–	2,000,000	–	0.26%	–
BSM	New	BLACK STONE MINERALS L P	$1,936,000	–	104,750	–	0.25%	–
GEC	New	GREAT ELM CAP GROUP INC	$1,866,000	–	518,598	–	0.24%	–
SPLP	New	STEEL PARTNERS HLDGS L Pltd prtrship u	$1,742,000	–	103,398	–	0.23%	–
FNWB	New	FIRST NORTHWEST BANCORP	$1,088,000	–	68,152	–	0.14%	–
TACOW	New	DEL TACO RESTAURANTS INC*w exp 06/30/202	$1,034,000	–	265,142	–	0.14%	–
HPT	New	HOSPITALITY PPTYS TR	$1,026,000	–	35,858	–	0.14%	–
URA	New	GLOBAL X FDSglobal x uranium	$798,000	–	62,074	–	0.10%	–
JYNT	New	JOINT CORP	$376,000	–	45,964	–	0.05%	–
RUBI	New	RUBICON PROJ INC	$358,000	–	125,448	–	0.05%	–
AMRK	New	A MARK PRECIOUS METALS INC	$332,000	–	25,000	–	0.04%	–
MGI	New	MONEYGRAM INTL INC	$76,000	–	11,410	–	0.01%	–

Q4 2017

			Value		Shares		↓ Weighting
PRMW	Exit	PRIMO WTR CORP	$0	–	-1,686	–	-0.01%	–
MNTX	Exit	MANITEX INTL INC	$0	–	-9,000	–	-0.02%	–
MGI	Exit	MONEYGRAM INTL INC	$0	–	-5,705	–	-0.03%	–
GLBL	Exit	TERRAFORM GLOBAL INCcl a	$0	–	-20,408	–	-0.03%	–
XCRA	Exit	XCERRA CORP	$0	–	-10,012	–	-0.03%	–
AMRK	Exit	A MARK PRECIOUS METALS INC	$0	–	-7,500	–	-0.04%	–
RNET	Exit	RIGNET INC	$0	–	-15,000	–	-0.08%	–
HPT	Exit	HOSPITALITY PPTYS TR	$0	–	-17,929	–	-0.15%	–
CHMI	Exit	CHERRY HILL MTG INVT CORP	$0	–	-28,873	–	-0.15%	–
UHAL	Exit	AMERCO	$0	–	-1,473	–	-0.16%	–
FNWB	Exit	FIRST NORTHWEST BANCORP	$0	–	-34,076	–	-0.17%	–
WY	Exit	WEYERHAEUSER CO	$0	–	-20,386	–	-0.20%	–
BFB	Exit	BROWN FORMAN CORPcl b	$0	–	-12,950	–	-0.21%	–
SPLP	Exit	STEEL PARTNERS HLDGS L Pltd prtrship u	$0	–	-43,973	–	-0.24%	–
PSTG	Exit	PURE STORAGE INCcl a	$0	–	-50,884	–	-0.24%	–
CSWI	Exit	CSW INDUSTRIALS INC	$0	–	-18,651	–	-0.24%	–
	Exit	ASCENT CAP GROUP INCnote 4.000% 7/1	$0	–	-1,086,000	–	-0.25%	–
POPE	Exit	POPE RES DEL LTD PARTNERSHIPdepositry rcpt	$0	–	-12,537	–	-0.26%	–
BSM	Exit	BLACK STONE MINERALS L P	$0	–	-52,375	–	-0.27%	–
GEC	Exit	GREAT ELM CAP GROUP INC	$0	–	-259,299	–	-0.27%	–
RILY	Exit	B RILEY FINL INC	$0	–	-54,591	–	-0.27%	–
PCO	Exit	PENDRELL CORPcl a new	$0	–	-138,297	–	-0.28%	–
	Exit	SERVICESOURCE INTL INCnote 1.500% 8/0	$0	–	-1,000,000	–	-0.29%	–
	Exit	CHART INDS INCnote 2.000% 8/0	$0	–	-1,000,000	–	-0.29%	–
VRTSP	Exit	VIRTUS INVT PARTNERS INCpfd cv ser d	$0	–	-10,570	–	-0.32%	–
SREV	Exit	SERVICESOURCE INTL INC	$0	–	-435,558	–	-0.44%	–
KIN	Exit	KINDRED BIOSCIENCES INC	$0	–	-196,318	–	-0.45%	–
NTIP	Exit	NETWORK 1 TECHNOLOGIES INC	$0	–	-429,988	–	-0.49%	–
PGTI	Exit	PGT INNOVATIONS INC	$0	–	-125,257	–	-0.55%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-10,680	–	-0.58%	–
TRIP	Exit	TRIPADVISOR INC	$0	–	-54,984	–	-0.66%	–
VOLT	Exit	VOLT INFORMATION SCIENCES IN	$0	–	-890,896	–	-0.82%	–
JCAP	Exit	JERNIGAN CAP INC	$0	–	-136,835	–	-0.83%	–
HSON	Exit	HUDSON GLOBAL INC	$0	–	-2,019,822	–	-0.87%	–
TST	Exit	THESTREET INC	$0	–	-2,866,303	–	-0.91%	–
DXLG	Exit	DESTINATION XL GROUP INC	$0	–	-1,843,251	–	-1.03%	–
PRTS	Exit	U.S. AUTO PARTS NETWORK INC	$0	–	-1,271,876	–	-1.08%	–
PPIH	Exit	PERMA PIPE INTL HLDGS INC	$0	–	-469,300	–	-1.17%	–
LLNW	Exit	LIMELIGHT NETWORKS INC	$0	–	-1,064,893	–	-1.24%	–
YUME	Exit	YUME INC	$0	–	-949,048	–	-1.29%	–
DRAD	Exit	DIGIRAD CORP	$0	–	-1,287,381	–	-1.30%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-19	–	-1.53%	–
CALL	Exit	MAGICJACK VOCALTEC LTD	$0	–	-851,973	–	-1.79%	–
BBW	Exit	BUILD A BEAR WORKSHOP	$0	–	-714,802	–	-1.92%	–
PRGX	Exit	PRGX GLOBAL INC	$0	–	-1,016,693	–	-2.09%	–
ARTX	Exit	AROTECH CORP	$0	–	-1,770,162	–	-2.18%	–
PCOM	Exit	POINTS INTL LTD	$0	–	-677,376	–	-2.27%	–
INAP	Exit	INTERNAP CORP	$0	–	-1,800,355	–	-2.30%	–
HCCI	Exit	HERITAGE CRYSTAL CLEAN INC	$0	–	-402,947	–	-2.57%	–
HBP	Exit	HUTTIG BLDG PRODS INC	$0	–	-1,245,156	–	-2.58%	–
TAXA	Exit	LIBERTY TAX INCcl a	$0	–	-687,271	–	-2.91%	–
SD	Exit	SANDRIDGE ENERGY INC	$0	–	-543,354	–	-3.21%	–
EXTN	Exit	EXTERRAN CORP	$0	–	-381,516	–	-3.54%	–
NOA	Exit	NORTH AMERN ENERGY PARTNERS	$0	–	-2,846,512	–	-3.64%	–
BREW	Exit	CRAFT BREW ALLIANCE INC	$0	–	-712,603	–	-3.67%	–
IDSY	Exit	I D SYSTEMS INC	$0	–	-1,701,315	–	-3.75%	–
VCYT	Exit	VERACYTE INC	$0	–	-1,663,407	–	-4.28%	–
HIIQ	Exit	HEALTH INS INNOVATIONS INC	$0	–	-1,038,467	–	-4.42%	–
BEAT	Exit	BIOTELEMETRY INC	$0	–	-458,183	–	-4.44%	–
TAST	Exit	CARROLS RESTAURANT GROUP INC	$0	–	-1,662,944	–	-5.32%	–
SIEN	Exit	SIENTRA INC	$0	–	-1,225,195	–	-5.54%	–
REI	Exit	RING ENERGY INC	$0	–	-1,890,503	–	-8.05%	–
EHTH	Exit	EHEALTH INC	$0	–	-1,393,866	–	-9.78%	–

Q3 2017

			Value		Shares		↓ Weighting
EHTH	Sell	EHEALTH INC	$33,299,000	-3.4%	1,393,866	-24.0%	9.78%	-0.6%
REI	Sell	RING ENERGY INC	$27,393,000	+9.8%	1,890,503	-1.5%	8.05%	+12.9%
SIEN	Sell	SIENTRA INC	$18,868,000	+27.4%	1,225,195	-19.6%	5.54%	+31.1%
TAST	Buy	CARROLS RESTAURANT GROUP INC	$18,126,000	+6.5%	1,662,944	+19.7%	5.32%	+9.6%
BEAT	Sell	BIOTELEMETRY INC	$15,120,000	-33.8%	458,183	-32.9%	4.44%	-31.9%
HIIQ	Buy	HEALTH INS INNOVATIONS INC	$15,058,000	-20.1%	1,038,467	+29.5%	4.42%	-17.8%
IDSY	Buy	I D SYSTEMS INC	$12,777,000	+60.2%	1,701,315	+30.8%	3.75%	+64.8%
BREW	Buy	CRAFT BREW ALLIANCE INC	$12,506,000	+220.5%	712,603	+207.8%	3.67%	+229.7%
NOA	Buy	NORTH AMERN ENERGY PARTNERS	$12,382,000	+11.3%	2,846,512	+12.6%	3.64%	+14.5%
SD	Sell	SANDRIDGE ENERGY INC	$10,916,000	+9.3%	543,354	-6.4%	3.21%	+12.5%
TAXA	Buy	LIBERTY TAX INCcl a	$9,897,000	+37.2%	687,271	+23.4%	2.91%	+41.2%
HBP	Buy	HUTTIG BLDG PRODS INC	$8,791,000	+15.2%	1,245,156	+14.4%	2.58%	+18.5%
INAP	Buy	INTERNAP CORP	$7,832,000	+33952.2%	1,800,355	+28938.0%	2.30%	+32757.1%
PCOM	Sell	POINTS INTL LTD	$7,722,000	-11.6%	677,376	-29.9%	2.27%	-9.1%
PRGX	Buy	PRGX GLOBAL INC	$7,117,000	+19.7%	1,016,693	+11.1%	2.09%	+23.2%
BBW	Sell	BUILD A BEAR WORKSHOP	$6,540,000	-16.1%	714,802	-4.1%	1.92%	-13.7%
CALL	New	MAGICJACK VOCALTEC LTD	$6,092,000	–	851,973	–	1.79%	–
YUME	Sell	YUME INC	$4,394,000	-27.5%	949,048	-26.4%	1.29%	-25.4%
LLNW	Buy	LIMELIGHT NETWORKS INC	$4,228,000	+7587.3%	1,064,893	+5519.5%	1.24%	+7662.5%
PPIH	Buy	PERMA PIPE INTL HLDGS INC	$3,989,000	+11.9%	469,300	+5.3%	1.17%	+15.1%
DXLG	New	DESTINATION XL GROUP INC	$3,502,000	–	1,843,251	–	1.03%	–
TST	Sell	THESTREET INC	$3,096,000	+18.9%	2,866,303	-8.6%	0.91%	+22.3%
JCAP	Sell	JERNIGAN CAP INC	$2,812,000	-20.7%	136,835	-15.1%	0.83%	-18.4%
TRIP	New	TRIPADVISOR INC	$2,229,000	–	54,984	–	0.66%	–
PGTI	Sell	PGT INNOVATIONS INC	$1,873,000	-50.8%	125,257	-57.9%	0.55%	-49.4%
NTIP	Buy	NETWORK 1 TECHNOLOGIES INC	$1,655,000	-5.2%	429,988	+4.7%	0.49%	-2.4%
KIN	Sell	KINDRED BIOSCIENCES INC	$1,541,000	-52.8%	196,318	-48.3%	0.45%	-51.4%
SREV	Sell	SERVICESOURCE INTL INC	$1,507,000	-32.9%	435,558	-24.8%	0.44%	-30.9%
PCO	Buy	PENDRELL CORPcl a new	$945,000	+128.3%	138,297	+141.8%	0.28%	+135.6%
RILY	Sell	B RILEY FINL INC	$931,000	-31.3%	54,591	-25.3%	0.27%	-29.5%
POPE	Buy	POPE RES DEL LTD PARTNERSHIPdepositry rcpt	$882,000	+16.8%	12,537	+23.0%	0.26%	+19.9%
PSTG	Buy	PURE STORAGE INCcl a	$814,000	+1171.9%	50,884	+912.8%	0.24%	+1227.8%
WY	Sell	WEYERHAEUSER CO	$694,000	-5.1%	20,386	-6.6%	0.20%	-2.4%
FNWB	Buy	FIRST NORTHWEST BANCORP	$583,000	+71.5%	34,076	+58.1%	0.17%	+76.3%
RNET	Sell	RIGNET INC	$258,000	-94.3%	15,000	-94.7%	0.08%	-94.1%
MNTX	New	MANITEX INTL INC	$81,000	–	9,000	–	0.02%	–
PRMW	Buy	PRIMO WTR CORP	$20,000	+25.0%	1,686	+38.0%	0.01%	+20.0%
AR	Exit	ANTERO RES CORP	$0	–	-2,793	–	-0.02%	–
MSLI	Exit	MERUS LABS INTL INC NEW	$0	–	-62,112	–	-0.02%	–
NSR	Exit	NEUSTAR INCcl a	$0	–	-3,016	–	-0.03%	–
EGAS	Exit	GAS NAT INC	$0	–	-7,906	–	-0.03%	–
MBBYF	Exit	MOBILEYE N V AMSTELVEEN	$0	–	-1,620	–	-0.03%	–
AXTA	Exit	AXALTA COATING SYS LTD	$0	–	-3,521	–	-0.03%	–
COVS	Exit	COVISINT CORP	$0	–	-97,500	–	-0.07%	–
UNAM	Exit	UNICO AMERN CORP	$0	–	-37,066	–	-0.10%	–
VRTS	Exit	VIRTUS INVT PARTNERS INC	$0	–	-5,190	–	-0.16%	–
RM	Exit	REGIONAL MGMT CORP	$0	–	-29,821	–	-0.20%	–
BHI	Exit	BAKER HUGHES INC	$0	–	-19,267	–	-0.30%	–
IVTY	Exit	INVUITY INC	$0	–	-247,450	–	-0.51%	–
QNST	Exit	QUINSTREET INC	$0	–	-772,245	–	-0.92%	–
CARB	Exit	CARBONITE INC	$0	–	-220,576	–	-1.37%	–
AIQ	Exit	ALLIANCE HEALTHCARE SRVCS IN	$0	–	-526,068	–	-2.00%	–
BLBD	Exit	BLUE BIRD CORP	$0	–	-485,431	–	-2.36%	–
NAME	Exit	RIGHTSIDE GROUP LTD	$0	–	-1,384,364	–	-4.20%	–

Q2 2017

			Value		Shares		↓ Weighting
EHTH	New	EHEALTH INC	$34,459,000	–	1,832,908	–	9.84%	–
REI	New	RING ENERGY INC	$24,956,000	–	1,919,703	–	7.12%	–
BEAT	New	BIOTELEMETRY INC	$22,846,000	–	682,976	–	6.52%	–
HIIQ	New	HEALTH INS INNOVATIONS INC	$18,841,000	–	801,756	–	5.38%	–
TAST	New	CARROLS RESTAURANT GROUP INC	$17,020,000	–	1,389,360	–	4.86%	–
SIEN	New	SIENTRA INC	$14,809,000	–	1,523,537	–	4.23%	–
NAME	New	RIGHTSIDE GROUP LTD	$14,702,000	–	1,384,364	–	4.20%	–
VCYT	New	VERACYTE INC	$13,856,000	–	1,663,407	–	3.96%	–
NOA	New	NORTH AMERN ENERGY PARTNERS	$11,126,000	–	2,528,658	–	3.18%	–
EXTN	New	EXTERRAN CORP	$10,186,000	–	381,516	–	2.91%	–
SD	New	SANDRIDGE ENERGY INC	$9,988,000	–	580,380	–	2.85%	–
PCOM	New	POINTS INTL LTD	$8,738,000	–	966,556	–	2.49%	–
BLBD	New	BLUE BIRD CORP	$8,252,000	–	485,431	–	2.36%	–
IDSY	New	I D SYSTEMS INC	$7,976,000	–	1,301,136	–	2.28%	–
BBW	New	BUILD A BEAR WORKSHOP	$7,793,000	–	745,696	–	2.22%	–
HBP	New	HUTTIG BLDG PRODS INC	$7,631,000	–	1,088,647	–	2.18%	–
TAXA	New	LIBERTY TAX INCcl a	$7,213,000	–	557,015	–	2.06%	–
AIQ	New	ALLIANCE HEALTHCARE SRVCS IN	$6,997,000	–	526,068	–	2.00%	–
HCCI	New	HERITAGE CRYSTAL CLEAN INC	$6,407,000	–	402,947	–	1.83%	–
ARTX	New	AROTECH CORP	$6,284,000	–	1,770,162	–	1.79%	–
YUME	New	YUME INC	$6,064,000	–	1,290,176	–	1.73%	–
PRGX	New	PRGX GLOBAL INC	$5,946,000	–	914,762	–	1.70%	–
DRAD	New	DIGIRAD CORP	$5,214,000	–	1,287,381	–	1.49%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$4,839,000	–	19	–	1.38%	–
CARB	New	CARBONITE INC	$4,809,000	–	220,576	–	1.37%	–
RNET	New	RIGNET INC	$4,501,000	–	280,410	–	1.28%	–
PRTS	New	U.S. AUTO PARTS NETWORK INC	$4,108,000	–	1,271,876	–	1.17%	–
BREW	New	CRAFT BREW ALLIANCE INC	$3,902,000	–	231,545	–	1.11%	–
PGTI	New	PGT INNOVATIONS INC	$3,807,000	–	297,416	–	1.09%	–
PPIH	New	PERMA PIPE INTL HLDGS INC	$3,566,000	–	445,748	–	1.02%	–
JCAP	New	JERNIGAN CAP INC	$3,544,000	–	161,100	–	1.01%	–
VOLT	New	VOLT INFORMATION SCIENCES IN	$3,519,000	–	890,896	–	1.00%	–
KIN	New	KINDRED BIOSCIENCES INC	$3,267,000	–	379,874	–	0.93%	–
QNST	New	QUINSTREET INC	$3,220,000	–	772,245	–	0.92%	–
HSON	New	HUDSON GLOBAL INC	$2,707,000	–	2,019,822	–	0.77%	–
TST	New	THESTREET INC	$2,604,000	–	3,137,167	–	0.74%	–
SREV	New	SERVICESOURCE INTL INC	$2,247,000	–	579,232	–	0.64%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$1,809,000	–	10,680	–	0.52%	–
IVTY	New	INVUITY INC	$1,794,000	–	247,450	–	0.51%	–
NTIP	New	NETWORK 1 TECHNOLOGIES INC	$1,745,000	–	410,704	–	0.50%	–
RILY	New	B RILEY FINL INC	$1,356,000	–	73,091	–	0.39%	–
VRTSP	New	VIRTUS INVT PARTNERS INCpfd cv ser d	$1,081,000	–	10,570	–	0.31%	–
BHI	New	BAKER HUGHES INC	$1,050,000	–	19,267	–	0.30%	–
	New	CHART INDS INCnote 2.000% 8/0	$991,000	–	1,000,000	–	0.28%	–
	New	SERVICESOURCE INTL INCnote 1.500% 8/0	$973,000	–	1,000,000	–	0.28%	–
GEC	New	GREAT ELM CAP GROUP INC	$882,000	–	259,299	–	0.25%	–
	New	ASCENT CAP GROUP INCnote 4.000% 7/1	$860,000	–	1,086,000	–	0.24%	–
BSM	New	BLACK STONE MINERALS L P	$825,000	–	52,375	–	0.24%	–
SPLP	New	STEEL PARTNERS HLDGS L Pltd prtrship u	$818,000	–	43,973	–	0.23%	–
POPE	New	POPE RES DEL LTD PARTNERSHIPdepositry rcpt	$755,000	–	10,190	–	0.22%	–
WY	New	WEYERHAEUSER CO	$731,000	–	21,832	–	0.21%	–
CSWI	New	CSW INDUSTRIALS INC	$721,000	–	18,651	–	0.21%	–
RM	New	REGIONAL MGMT CORP	$705,000	–	29,821	–	0.20%	–
BFB	New	BROWN FORMAN CORPcl b	$629,000	–	12,950	–	0.18%	–
VRTS	New	VIRTUS INVT PARTNERS INC	$576,000	–	5,190	–	0.16%	–
UHAL	New	AMERCO	$539,000	–	1,473	–	0.15%	–
CHMI	New	CHERRY HILL MTG INVT CORP	$533,000	–	28,873	–	0.15%	–
HPT	New	HOSPITALITY PPTYS TR	$523,000	–	17,929	–	0.15%	–
PCO	New	PENDRELL CORPcl a new	$414,000	–	57,193	–	0.12%	–
UNAM	New	UNICO AMERN CORP	$345,000	–	37,066	–	0.10%	–
FNWB	New	FIRST NORTHWEST BANCORP	$340,000	–	21,547	–	0.10%	–
COVS	New	COVISINT CORP	$239,000	–	97,500	–	0.07%	–
AMRK	New	A MARK PRECIOUS METALS INC	$123,000	–	7,500	–	0.04%	–
AXTA	New	AXALTA COATING SYS LTD	$113,000	–	3,521	–	0.03%	–
MBBYF	New	MOBILEYE N V AMSTELVEEN	$102,000	–	1,620	–	0.03%	–
EGAS	New	GAS NAT INC	$102,000	–	7,906	–	0.03%	–
GLBL	New	TERRAFORM GLOBAL INCcl a	$103,000	–	20,408	–	0.03%	–
NSR	New	NEUSTAR INCcl a	$101,000	–	3,016	–	0.03%	–
XCRA	New	XCERRA CORP	$98,000	–	10,012	–	0.03%	–
MGI	New	MONEYGRAM INTL INC	$98,000	–	5,705	–	0.03%	–
MSLI	New	MERUS LABS INTL INC NEW	$78,000	–	62,112	–	0.02%	–
PSTG	New	PURE STORAGE INCcl a	$64,000	–	5,024	–	0.02%	–
AR	New	ANTERO RES CORP	$60,000	–	2,793	–	0.02%	–
LLNW	New	LIMELIGHT NETWORKS INC	$55,000	–	18,950	–	0.02%	–
INAP	New	INTERNAP CORP	$23,000	–	6,200	–	0.01%	–
PRMW	New	PRIMO WTR CORP	$16,000	–	1,222	–	0.01%	–

Q4 2016

			Value		Shares		↓ Weighting
AMRK	Exit	A MARK PRECIOUS METALS INC	$0	–	-7,500	–	-0.05%	–
TWO	Exit	TWO HBRS INVT CORP	$0	–	-26,000	–	-0.09%	–
GEC	Exit	GREAT ELM CAP GROUP INC	$0	–	-65,478	–	-0.12%	–
HPHWQ	Exit	HOOPER HOLMES INC	$0	–	-295,054	–	-0.15%	–
RVP	Exit	RETRACTABLE TECHNOLOGIES INC	$0	–	-166,762	–	-0.17%	–
UNAM	Exit	UNICO AMERN CORP	$0	–	-47,645	–	-0.21%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-8,275	–	-0.21%	–
HPT	Exit	HOSPITALITY PPTYS TR	$0	–	-17,929	–	-0.21%	–
CSWI	Exit	CSW INDUSTRIALS INC	$0	–	-18,651	–	-0.24%	–
SPLP	Exit	STEEL PARTNERS HLDGS L Pltd prtrship u	$0	–	-43,973	–	-0.25%	–
UUUU	Exit	ENERGY FUELS INC	$0	–	-420,947	–	-0.27%	–
	Exit	ASCENT CAP GROUP INCnote 4.000% 7/1	$0	–	-1,086,000	–	-0.31%	–
BOOT	Exit	BOOT BARN HLDGS INC	$0	–	-71,056	–	-0.32%	–
RILY	Exit	B RILEY FINL INC	$0	–	-65,100	–	-0.35%	–
	Exit	SERVICESOURCE INTL INCnote 1.500% 8/0	$0	–	-1,000,000	–	-0.38%	–
	Exit	CHART INDS INCnote 2.000% 8/0	$0	–	-1,000,000	–	-0.39%	–
NTIP	Exit	NETWORK 1 TECHNOLOGIES INC	$0	–	-410,704	–	-0.45%	–
MFRI	Exit	MFRI INC	$0	–	-196,039	–	-0.60%	–
AR	Exit	ANTERO RES CORP	$0	–	-63,879	–	-0.68%	–
AXTA	Exit	AXALTA COATING SYS LTD	$0	–	-68,277	–	-0.77%	–
PRGX	Exit	PRGX GLOBAL INC	$0	–	-416,101	–	-0.78%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-14,030	–	-0.81%	–
BHI	Exit	BAKER HUGHES INC	$0	–	-43,901	–	-0.88%	–
HSON	Exit	HUDSON GLOBAL INC	$0	–	-1,611,831	–	-0.99%	–
VCYT	Exit	VERACYTE INC	$0	–	-380,716	–	-1.15%	–
PGTI	Exit	PGT INC	$0	–	-273,813	–	-1.16%	–
ARTX	Exit	AROTECH CORP	$0	–	-997,563	–	-1.17%	–
PRTS	Exit	U.S. AUTO PARTS NETWORK INC	$0	–	-1,002,301	–	-1.31%	–
TST	Exit	THESTREET INC	$0	–	-3,220,366	–	-1.41%	–
JCAP	Exit	JERNIGAN CAP INC	$0	–	-195,800	–	-1.49%	–
RM	Exit	REGIONAL MGMT CORP	$0	–	-209,496	–	-1.80%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-21	–	-1.81%	–
RNET	Exit	RIGNET INC	$0	–	-307,051	–	-1.85%	–
VOLT	Exit	VOLT INFORMATION SCIENCES IN	$0	–	-744,764	–	-1.88%	–
SREV	Exit	SERVICESOURCE INTL INC	$0	–	-1,128,527	–	-2.19%	–
YUME	Exit	YUME INC	$0	–	-1,436,009	–	-2.27%	–
IDSY	Exit	I D SYSTEMS INC	$0	–	-1,198,276	–	-2.35%	–
DRAD	Exit	DIGIRAD CORP	$0	–	-1,173,901	–	-2.38%	–
EVLV	Exit	EVINE LIVE INCcl a	$0	–	-2,668,066	–	-2.43%	–
HIIQ	Exit	HEALTH INS INNOVATIONS INC	$0	–	-1,174,962	–	-2.45%	–
BLBD	Exit	BLUE BIRD CORP	$0	–	-431,723	–	-2.51%	–
BBW	Exit	BUILD A BEAR WORKSHOP	$0	–	-609,415	–	-2.51%	–
GTLS	Exit	CHART INDS INC	$0	–	-197,416	–	-2.58%	–
NOA	Exit	NORTH AMERN ENERGY PARTNERS	$0	–	-2,732,734	–	-2.72%	–
CARB	Exit	CARBONITE INC	$0	–	-489,863	–	-2.99%	–
PCOM	Exit	POINTS INTL LTD	$0	–	-841,413	–	-3.00%	–
SIEN	Exit	SIENTRA INC	$0	–	-855,997	–	-3.06%	–
CPE	Exit	CALLON PETE CO DEL	$0	–	-557,453	–	-3.48%	–
EXTN	Exit	EXTERRAN CORP	$0	–	-908,644	–	-5.66%	–
GTTN	Exit	GTT COMMUNICATIONS INC	$0	–	-639,735	–	-5.98%	–
NAME	Exit	RIGHTSIDE GROUP LTD	$0	–	-1,677,301	–	-6.07%	–
IL	Exit	INTRALINKS HLDGS INC	$0	–	-1,622,704	–	-6.49%	–
REI	Exit	RING ENERGY INC	$0	–	-1,594,719	–	-6.94%	–
BEAT	Exit	BIOTELEMETRY INC	$0	–	-980,964	–	-7.24%	–

Q3 2016

			Value		Shares		↓ Weighting
BEAT	Sell	BIOTELEMETRY INC	$18,217,000	-20.2%	980,964	-30.0%	7.24%	-21.9%
REI	Sell	RING ENERGY INC	$17,462,000	+18.3%	1,594,719	-4.7%	6.94%	+15.7%
IL	Sell	INTRALINKS HLDGS INC	$16,324,000	+14.4%	1,622,704	-26.1%	6.49%	+11.9%
NAME	Buy	RIGHTSIDE GROUP LTD	$15,263,000	+16.2%	1,677,301	+35.9%	6.07%	+13.7%
GTTN	Sell	GTT COMMUNICATIONS INC	$15,053,000	-19.3%	639,735	-36.6%	5.98%	-21.0%
EXTN	Sell	EXTERRAN CORP	$14,248,000	+15.9%	908,644	-5.0%	5.66%	+13.4%
CPE	Sell	CALLON PETE CO DEL	$8,752,000	-10.4%	557,453	-35.9%	3.48%	-12.4%
PCOM	Sell	POINTS INTL LTD	$7,539,000	-2.4%	841,413	-1.4%	3.00%	-4.5%
CARB	Sell	CARBONITE INC	$7,524,000	+49.9%	489,863	-5.0%	2.99%	+46.7%
NOA	Sell	NORTH AMERN ENERGY PARTNERS	$6,832,000	-13.9%	2,732,734	-2.8%	2.72%	-15.7%
GTLS	Sell	CHART INDS INC	$6,481,000	-25.6%	197,416	-45.3%	2.58%	-27.2%
BBW	Buy	BUILD A BEAR WORKSHOP	$6,314,000	-19.2%	609,415	+4.7%	2.51%	-21.0%
BLBD	New	BLUE BIRD CORP	$6,307,000	–	431,723	–	2.51%	–
HIIQ	Buy	HEALTH INS INNOVATIONS INC	$6,169,000	+34.1%	1,174,962	+0.4%	2.45%	+31.2%
EVLV	Sell	EVINE LIVE INCcl a	$6,110,000	+3.1%	2,668,066	-25.7%	2.43%	+0.8%
DRAD	Buy	DIGIRAD CORP	$5,987,000	+1.5%	1,173,901	+2.5%	2.38%	-0.7%
YUME	Buy	YUME INC	$5,701,000	+17.2%	1,436,009	+8.7%	2.27%	+14.7%
SREV	Sell	SERVICESOURCE INTL INC	$5,507,000	+3.9%	1,128,527	-14.2%	2.19%	+1.7%
VOLT	Buy	VOLT INFORMATION SCIENCES IN	$4,729,000	+13.1%	744,764	+5.3%	1.88%	+10.7%
RNET	Sell	RIGNET INC	$4,643,000	+11.3%	307,051	-1.5%	1.85%	+8.9%
RM	Sell	REGIONAL MGMT CORP	$4,536,000	+15.6%	209,496	-21.7%	1.80%	+13.2%
ARTX	Buy	AROTECH CORP	$2,943,000	+213.8%	997,563	+198.9%	1.17%	+207.1%
PGTI	Buy	PGT INC	$2,922,000	+65.8%	273,813	+60.1%	1.16%	+62.3%
VCYT	New	VERACYTE INC	$2,897,000	–	380,716	–	1.15%	–
HSON	Sell	HUDSON GLOBAL INC	$2,482,000	-23.7%	1,611,831	-2.4%	0.99%	-25.3%
PRGX	Buy	PRGX GLOBAL INC	$1,960,000	+1480.6%	416,101	+1653.1%	0.78%	+1458.0%
MFRI	Buy	MFRI INC	$1,502,000	+2.7%	196,039	+0.1%	0.60%	+0.5%
BOOT	Sell	BOOT BARN HLDGS INC	$809,000	-39.4%	71,056	-54.1%	0.32%	-40.6%
AXP	New	AMERICAN EXPRESS CO	$530,000	–	8,275	–	0.21%	–
HPHWQ	Sell	HOOPER HOLMES INC	$372,000	-45.1%	295,054	-47.3%	0.15%	-46.2%
GEC	Buy	GREAT ELM CAP GROUP INC	$307,000	+31.2%	65,478	+84.5%	0.12%	+28.4%
AFCO	Exit	AMERICAN FARMLAND CO	$0	–	-45,830	–	-0.11%	–
	Exit	AVID TECHNOLOGY INCnote 2.000% 6/1	$0	–	-2,200,000	–	-0.61%	–
VPG	Exit	VISHAY PRECISION GROUP INC	$0	–	-117,025	–	-0.64%	–
GENN	Exit	GENESIS HEALTHCARE INC	$0	–	-968,910	–	-0.70%	–
UNTD	Exit	UNITED ONLINE INC	$0	–	-684,210	–	-3.06%	–

Q2 2016

			Value		Shares		↓ Weighting
BEAT	New	BIOTELEMETRY INC	$22,828,000	–	1,400,475	–	9.28%	–