Mesirow Financial Investment Management, Inc. Activity Q4 2009-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
ATEC	Sell	ALPHATEC HLDGS INC	$409,502	-30.8%	31,573	-4.1%	1.78%	-28.9%
VITL	Buy	VITAL FARMS INC	$401,606	+70.9%	34,681	+77.0%	1.75%	+75.5%
UFPT	Sell	UFP TECHNOLOGIES INC	$399,589	-19.9%	2,475	-3.9%	1.74%	-17.8%
EXTR	Sell	EXTREME NETWORKS	$391,887	-40.4%	16,187	-35.8%	1.71%	-38.7%
STRL	Sell	STERLING INFRASTRUCTURE INC	$379,818	-8.8%	5,169	-30.7%	1.65%	-6.3%
ROAD	Sell	CONSTRUCTION PARTNERS INC	$379,420	+2.5%	10,378	-12.0%	1.65%	+5.2%
SP	Sell	SP PLUS CORP	$378,581	-20.5%	10,487	-13.9%	1.65%	-18.3%
BLFS	Buy	BIOLIFE SOLUTIONS INC	$368,865	-1.5%	26,710	+57.6%	1.60%	+1.1%
AVNW	Sell	AVIAT NETWORKS INC	$359,455	-27.2%	11,521	-22.1%	1.56%	-25.2%
ASPN	New	ASPEN AEROGELS INC	$333,603	–	38,791	–	1.45%	–
UTI	Sell	UNIVERSAL TECHNICAL INST INC	$329,787	-4.9%	39,354	-21.6%	1.44%	-2.4%
BELFB	Buy	BEL FUSE INCcl b	$323,923	+33.3%	6,788	+60.4%	1.41%	+36.9%
CECE	Buy	CECO ENVIRONMENTAL CORP	$314,833	+43.8%	19,714	+20.3%	1.37%	+47.6%
HLIT	Buy	HARMONIC INC	$304,809	+0.4%	31,652	+68.5%	1.33%	+3.1%
CMT	New	CORE MOLDING TECHNOLOGIES IN	$280,769	–	9,855	–	1.22%	–
IMGN	New	IMMUNOGEN INC	$271,282	–	17,094	–	1.18%	–
PHX	New	PHX MINERALS INCcl a	$270,306	–	74,260	–	1.18%	–
STRS	New	STRATUS PPTYS INC	$260,684	–	9,514	–	1.14%	–
ADMA	Buy	ADMA BIOLOGICS INC	$260,184	+36.4%	72,677	+40.6%	1.13%	+40.1%
AZZ	New	AZZ INC	$258,530	–	5,672	–	1.12%	–
LQDT	New	LIQUIDITY SVCS INC	$254,732	–	14,457	–	1.11%	–
CRY	New	ARTIVION INC	$250,853	–	16,547	–	1.09%	–
SKYW	Sell	SKYWEST INC	$249,669	-21.0%	5,953	-23.3%	1.09%	-18.8%
	New	OMNIAB INC	$249,084	–	47,993	–	1.08%	–
	Buy	ALTI GLOBAL INCcl a	$248,235	+61.8%	35,666	+78.1%	1.08%	+66.2%
	New	BIOTE CORP	$246,717	–	48,187	–	1.07%	–
JBI	New	JANUS INTERNATIONAL GROUP IN	$243,018	–	22,712	–	1.06%	–
	New	PORTILLOS INC	$239,838	–	15,584	–	1.04%	–
NAPA	New	DUCKHORN PORTFOLIO INC	$227,310	–	22,155	–	0.99%	–
	New	BOWLERO CORP	$225,849	–	23,477	–	0.98%	–
ANIP	Sell	ANI PHARMACEUTICALS INC	$224,228	-39.6%	3,862	-44.0%	0.98%	-37.9%
TWST	New	TWIST BIOSCIENCE CORP	$223,225	–	11,018	–	0.97%	–
CHEF	New	CHEFS WHSE INC	$222,920	–	10,525	–	0.97%	–
ASUR	New	ASURE SOFTWARE INC	$182,928	–	19,337	–	0.80%	–
	Exit	TENAYA THERAPEUTICS INC	$0	–	-28,784	–	-0.72%	–
AVD	Exit	AMERICAN VANGUARD CORP	$0	–	-10,750	–	-0.81%	–
JYNT	Exit	JOINT CORP	$0	–	-14,527	–	-0.83%	–
HAYN	Exit	HAYNES INTL INC	$0	–	-3,937	–	-0.85%	–
MBUU	Exit	MALIBU BOATS INC	$0	–	-3,487	–	-0.87%	–
BHR	Exit	BRAEMAR HOTELS & RESORTS INC	$0	–	-52,568	–	-0.90%	–
MYFW	Exit	FIRST WESTN FINL INC	$0	–	-11,554	–	-0.91%	–
ONEW	Exit	ONEWATER MARINE INC	$0	–	-6,348	–	-0.98%	–
PLL	Exit	PIEDMONT LITHIUM INC	$0	–	-4,342	–	-1.06%	–
ESTE	Exit	EARTHSTONE ENERGY INCcl a	$0	–	-18,078	–	-1.10%	–
NSSC	Exit	NAPCO SEC TECHNOLOGIES INC	$0	–	-8,734	–	-1.28%	–
HCCI	Exit	HERITAGE CRYSTAL CLEAN INC	$0	–	-8,061	–	-1.29%	–
MLR	Exit	MILLER INDS INC TENN	$0	–	-9,343	–	-1.40%	–
	Exit	DOCGO INC	$0	–	-36,922	–	-1.47%	–
	Exit	ENOVIX CORPORATION	$0	–	-19,247	–	-1.47%	–

Q2 2023

			Value		Shares		↓ Weighting
EXTR	New	EXTREME NETWORKS	$657,242	–	25,230	–	2.78%	–
ATEC	New	ALPHATEC HLDGS INC	$591,686	–	32,908	–	2.51%	–
UFPT	New	UFP TECHNOLOGIES INC	$499,164	–	2,575	–	2.12%	–
AVNW	New	AVIAT NETWORKS INC	$493,542	–	14,790	–	2.09%	–
CTLP	New	CANTALOUPE INC	$478,746	–	60,144	–	2.03%	–
SP	New	SP PLUS CORP	$476,242	–	12,177	–	2.02%	–
PDFS	New	PDF SOLUTIONS INC	$457,855	–	10,152	–	1.94%	–
ALTG	New	ALTA EQUIPMENT GROUP INC	$439,506	–	25,361	–	1.86%	–
AMOT	New	ALLIED MOTION TECHNOLOGIES I	$419,889	–	10,513	–	1.78%	–
STRL	New	STERLING INFRASTRUCTURE INC	$416,491	–	7,464	–	1.76%	–
VCEL	New	VERICEL CORP	$380,847	–	10,137	–	1.61%	–
COHU	New	COHU INC	$376,367	–	9,056	–	1.60%	–
BLFS	New	BIOLIFE SOLUTIONS INC	$374,529	–	16,947	–	1.59%	–
GTLS	New	CHART INDS INC	$374,388	–	2,343	–	1.59%	–
ANIP	New	ANI PHARMACEUTICALS INC	$370,996	–	6,892	–	1.57%	–
ROAD	New	CONSTRUCTION PARTNERS INC	$370,182	–	11,793	–	1.57%	–
VRRM	New	VERRA MOBILITY CORP	$362,454	–	18,380	–	1.54%	–
INSE	New	INSPIRED ENTMT INC	$357,630	–	24,312	–	1.52%	–
SKY	New	SKYLINE CHAMPION CORPORATION	$348,783	–	5,329	–	1.48%	–
MEC	New	MAYVILLE ENGR CO INC	$347,484	–	27,888	–	1.47%	–
	New	ENOVIX CORPORATION	$347,216	–	19,247	–	1.47%	–
UTI	New	UNIVERSAL TECHNICAL INST INC	$346,875	–	50,199	–	1.47%	–
	New	DOCGO INC	$345,959	–	36,922	–	1.47%	–
OSBC	New	OLD SECOND BANCORP INC ILL	$342,355	–	26,214	–	1.45%	–
MLR	New	MILLER INDS INC TENN	$331,396	–	9,343	–	1.40%	–
BWMN	New	BOWMAN CONSULTING GROUP LTD	$327,854	–	10,284	–	1.39%	–
CCB	New	COASTAL FINL CORP WA	$323,037	–	8,580	–	1.37%	–
SKYW	New	SKYWEST INC	$315,987	–	7,760	–	1.34%	–
CASH	New	PATHWARD FINANCIAL INC	$310,983	–	6,708	–	1.32%	–
ANDE	New	ANDERSONS INC	$308,097	–	6,676	–	1.30%	–
HCCI	New	HERITAGE CRYSTAL CLEAN INC	$304,625	–	8,061	–	1.29%	–
HLIT	New	HARMONIC INC	$303,689	–	18,781	–	1.29%	–
JOUT	New	JOHNSON OUTDOORS INCcl a	$302,457	–	4,922	–	1.28%	–
NSSC	New	NAPCO SEC TECHNOLOGIES INC	$302,633	–	8,734	–	1.28%	–
ONTO	New	ONTO INNOVATION INC	$296,067	–	2,542	–	1.26%	–
ESQ	New	ESQUIRE FINL HLDGS INC	$286,927	–	6,273	–	1.22%	–
NBN	New	NORTHEAST BK LEWISTON ME	$282,148	–	6,771	–	1.20%	–
TBK	New	TRIUMPH FINANCIAL INC	$281,741	–	4,640	–	1.19%	–
	New	NERDWALLET INC	$280,634	–	29,823	–	1.19%	–
SAMG	New	SILVERCREST ASSET MGMT GROUPcl a	$279,410	–	13,798	–	1.18%	–
IIIV	New	I3 VERTICALS INC	$277,703	–	12,148	–	1.18%	–
MOD	New	MODINE MFG CO	$277,599	–	8,407	–	1.18%	–
HSII	New	HEIDRICK & STRUGGLES INTL IN	$274,626	–	10,375	–	1.16%	–
	New	CADRE HLDGS INC	$262,734	–	12,052	–	1.11%	–
WTTR	New	SELECT WATER SOLUTIONS INC	$260,771	–	32,194	–	1.10%	–
PLYM	New	PLYMOUTH INDL REIT INC	$258,561	–	11,232	–	1.10%	–
ESTE	New	EARTHSTONE ENERGY INCcl a	$258,335	–	18,078	–	1.10%	–
SBOW	New	SILVERBOW RES INC	$257,217	–	8,833	–	1.09%	–
SNDX	New	SYNDAX PHARMACEUTICALS INC	$257,083	–	12,283	–	1.09%	–
PLL	New	PIEDMONT LITHIUM INC	$250,577	–	4,342	–	1.06%	–
TALO	New	TALOS ENERGY INC	$247,843	–	17,869	–	1.05%	–
BELFB	New	BEL FUSE INCcl b	$243,017	–	4,233	–	1.03%	–
CNOB	New	CONNECTONE BANCORP INC	$242,961	–	14,645	–	1.03%	–
FLL	New	FULL HSE RESORTS INC	$242,379	–	36,176	–	1.03%	–
TBBK	New	BANCORP INC DEL	$242,230	–	7,419	–	1.03%	–
VITL	New	VITAL FARMS INC	$234,992	–	19,599	–	1.00%	–
ONEW	New	ONEWATER MARINE INC	$230,052	–	6,348	–	0.98%	–
PAR	New	PAR TECHNOLOGY CORP	$229,390	–	6,966	–	0.97%	–
BOOM	New	DMC GLOBAL INC	$227,506	–	12,810	–	0.96%	–
PUBM	New	PUBMATIC INC	$225,319	–	12,326	–	0.96%	–
SHYF	New	SHYFT GROUP INC	$224,813	–	10,191	–	0.95%	–
CECE	New	CECO ENVIRONMENTAL CORP	$218,917	–	16,386	–	0.93%	–
RNGR	New	RANGER ENERGY SVCS INC	$217,979	–	21,287	–	0.92%	–
CTO	New	CTO RLTY GROWTH INC NEW	$218,141	–	12,727	–	0.92%	–
PMVP	New	PMV PHARMACEUTICALS INC	$217,522	–	34,748	–	0.92%	–
MYFW	New	FIRST WESTN FINL INC	$214,904	–	11,554	–	0.91%	–
ATEN	New	A10 NETWORKS INC	$211,715	–	14,511	–	0.90%	–
BHR	New	BRAEMAR HOTELS & RESORTS INC	$211,323	–	52,568	–	0.90%	–
EVC	New	ENTRAVISION COMMUNICATIONS Ccl a	$205,500	–	46,811	–	0.87%	–
MBUU	New	MALIBU BOATS INC	$204,547	–	3,487	–	0.87%	–
HAYN	New	HAYNES INTL INC	$200,078	–	3,937	–	0.85%	–
JYNT	New	JOINT CORP	$196,115	–	14,527	–	0.83%	–
AVD	New	AMERICAN VANGUARD CORP	$192,103	–	10,750	–	0.81%	–
ADMA	New	ADMA BIOLOGICS INC	$190,721	–	51,686	–	0.81%	–
GDYN	New	GRID DYNAMICS HLDGS INCcl a	$181,698	–	19,643	–	0.77%	–
EVRI	New	EVERI HLDGS INC	$181,039	–	12,520	–	0.77%	–
CLAR	New	CLARUS CORP NEW	$175,826	–	19,237	–	0.74%	–
	New	TENAYA THERAPEUTICS INC	$168,962	–	28,784	–	0.72%	–
	New	ALTI GLOBAL INCcl a	$153,384	–	20,024	–	0.65%	–

Q4 2022

			Value		Shares		↓ Weighting
VERB	Exit	VERB TECHNOLOGY CO INC	$0	–	-13,234	–	-0.03%	–
	Exit	LIVEONE INC	$0	–	-13,546	–	-0.05%	–
ASPN	Exit	ASPEN AEROGELS INC	$0	–	-13,910	–	-0.61%	–
TFFP	Exit	TFF PHARMACEUTICALS INC	$0	–	-40,013	–	-0.77%	–
DLTH	Exit	DULUTH HLDGS INC	$0	–	-26,105	–	-0.88%	–
OPNT	Exit	OPIANT PHARMACEUTICALS INC	$0	–	-17,633	–	-0.90%	–
MGNI	Exit	MAGNITE INC	$0	–	-30,565	–	-0.96%	–
ATLC	Exit	ATLANTICUS HOLDINGS CORP	$0	–	-7,773	–	-0.97%	–
	Exit	ARIS WATER SOLUTIONS INC	$0	–	-16,144	–	-0.98%	–
GVA	Exit	GRANITE CONSTR INC	$0	–	-8,112	–	-0.98%	–
CSTL	Exit	CASTLE BIOSCIENCES INC	$0	–	-7,967	–	-0.99%	–
MLR	Exit	MILLER INDS INC TENN	$0	–	-9,822	–	-0.99%	–
GLDD	Exit	GREAT LAKES DREDGE & DOCK CO	$0	–	-27,685	–	-1.00%	–
PLYM	Exit	PLYMOUTH INDL REIT INC	$0	–	-12,680	–	-1.01%	–
FLL	Exit	FULL HSE RESORTS INC	$0	–	-38,011	–	-1.02%	–
ARLO	Exit	ARLO TECHNOLOGIES INC	$0	–	-46,384	–	-1.02%	–
ANDE	Exit	ANDERSONS INC	$0	–	-7,017	–	-1.04%	–
SHYF	Exit	SHYFT GROUP INC	$0	–	-10,705	–	-1.04%	–
RCKY	Exit	ROCKY BRANDS INC	$0	–	-10,946	–	-1.05%	–
ANIP	Exit	ANI PHARMACEUTICALS INC	$0	–	-6,892	–	-1.06%	–
CASH	Exit	PATHWARD FINANCIAL INC	$0	–	-7,050	–	-1.10%	–
EVC	Exit	ENTRAVISION COMMUNICATIONS Ccl a	$0	–	-60,874	–	-1.15%	–
MEC	Exit	MAYVILLE ENGR CO INC	$0	–	-37,212	–	-1.15%	–
BHR	Exit	BRAEMAR HOTELS & RESORTS INC	$0	–	-57,093	–	-1.16%	–
VCEL	Exit	VERICEL CORP	$0	–	-10,656	–	-1.17%	–
SBOW	Exit	SILVERBOW RES INC	$0	–	-9,283	–	-1.19%	–
INVE	Exit	IDENTIV INC	$0	–	-20,187	–	-1.20%	–
IIIV	Exit	I3 VERTICALS INC	$0	–	-12,773	–	-1.22%	–
PDFS	Exit	PDF SOLUTIONS INC	$0	–	-10,671	–	-1.24%	–
SMLR	Exit	SEMLER SCIENTIFIC INC	$0	–	-7,068	–	-1.26%	–
TBK	Exit	TRIUMPH BANCORP INC	$0	–	-4,900	–	-1.26%	–
CLAR	Exit	CLARUS CORP NEW	$0	–	-20,227	–	-1.29%	–
RNGR	Exit	RANGER ENERGY SVCS INC	$0	–	-28,044	–	-1.30%	–
ITI	Exit	ITERIS INC NEW	$0	–	-92,487	–	-1.31%	–
MBUU	Exit	MALIBU BOATS INC	$0	–	-5,779	–	-1.32%	–
	Exit	NERDWALLET INC	$0	–	-31,337	–	-1.32%	–
HSII	Exit	HEIDRICK & STRUGGLES INTL IN	$0	–	-10,732	–	-1.33%	–
FFWM	Exit	FIRST FNDTN INC	$0	–	-15,388	–	-1.33%	–
INSE	Exit	INSPIRED ENTMT INC	$0	–	-32,505	–	-1.36%	–
SKY	Exit	SKYLINE CHAMPION CORPORATION	$0	–	-5,596	–	-1.41%	–
ONEW	Exit	ONEWATER MARINE INC	$0	–	-10,092	–	-1.44%	–
CHRS	Exit	COHERUS BIOSCIENCES INC	$0	–	-31,986	–	-1.46%	–
	Exit	AIRSCULPT TECHNOLOGIES INC	$0	–	-48,586	–	-1.48%	–
BANC	Exit	BANC OF CALIFORNIA INC	$0	–	-19,689	–	-1.49%	–
MYFW	Exit	FIRST WESTN FINL INC	$0	–	-12,859	–	-1.51%	–
ROAD	Exit	CONSTRUCTION PARTNERS INC	$0	–	-12,323	–	-1.54%	–
GTLS	Exit	CHART INDS INC	$0	–	-1,785	–	-1.56%	–
VITL	Exit	VITAL FARMS INC	$0	–	-28,167	–	-1.60%	–
BFST	Exit	BUSINESS FIRST BANCSHARES IN	$0	–	-15,963	–	-1.64%	–
ONTO	Exit	ONTO INNOVATION INC	$0	–	-5,442	–	-1.66%	–
CELH	Exit	CELSIUS HLDGS INC	$0	–	-3,913	–	-1.69%	–
UTI	Exit	UNIVERSAL TECHNICAL INST INC	$0	–	-65,499	–	-1.69%	–
ATEC	Exit	ALPHATEC HLDGS INC	$0	–	-41,020	–	-1.71%	–
CNOB	Exit	CONNECTONE BANCORP INC	$0	–	-15,559	–	-1.71%	–
OSBC	Exit	OLD SECOND BANCORP INC ILL	$0	–	-27,703	–	-1.72%	–
TALO	Exit	TALOS ENERGY INC	$0	–	-22,470	–	-1.78%	–
COHU	Exit	COHU INC	$0	–	-14,818	–	-1.82%	–
	Exit	CADRE HLDGS INC	$0	–	-15,997	–	-1.83%	–
GDYN	Exit	GRID DYNAMICS HLDGS INCcl a	$0	–	-20,653	–	-1.84%	–
ALTG	Exit	ALTA EQUIPMENT GROUP INC	$0	–	-35,384	–	-1.85%	–
CCB	Exit	COASTAL FINL CORP WA	$0	–	-9,882	–	-1.87%	–
BWB	Exit	BRIDGEWATER BANCSHARES INC	$0	–	-23,893	–	-1.87%	–
AMOT	Exit	ALLIED MOTION TECHNOLOGIES I	$0	–	-13,896	–	-1.89%	–
BLFS	Exit	BIOLIFE SOLUTIONS INC	$0	–	-18,343	–	-1.98%	–
STRL	Exit	STERLING INFRASTRUCTURE INC	$0	–	-19,447	–	-1.99%	–
AVNW	Exit	AVIAT NETWORKS INC	$0	–	-15,537	–	-2.02%	–
HLIT	Exit	HARMONIC INC	$0	–	-33,141	–	-2.06%	–
EXTR	Exit	EXTREME NETWORKS INC	$0	–	-35,040	–	-2.18%	–
SP	Exit	SP PLUS CORP	$0	–	-15,581	–	-2.32%	–
NSSC	Exit	NAPCO SEC TECHNOLOGIES INC	$0	–	-22,974	–	-3.18%	–
UFPT	Exit	UFP TECHNOLOGIES INC	$0	–	-7,916	–	-3.23%	–

Q3 2022

			Value		Shares		↓ Weighting
BLFS	Buy	BIOLIFE SOLUTIONS INC	$417,000	+187.6%	18,343	+74.7%	1.98%	+182.7%
TALO	Sell	TALOS ENERGY INC	$374,000	-27.5%	22,470	-32.6%	1.78%	-28.8%
CELH	Sell	CELSIUS HLDGS INC	$355,000	-22.8%	3,913	-44.5%	1.69%	-24.2%
VITL	New	VITAL FARMS INC	$337,000	–	28,167	–	1.60%	–
	New	AIRSCULPT TECHNOLOGIES INC	$312,000	–	48,586	–	1.48%	–
CHRS	New	COHERUS BIOSCIENCES INC	$307,000	–	31,986	–	1.46%	–
HSII	New	HEIDRICK & STRUGGLES INTL IN	$279,000	–	10,732	–	1.33%	–
RNGR	New	RANGER ENERGY SVCS INC	$274,000	–	28,044	–	1.30%	–
SMLR	New	SEMLER SCIENTIFIC INC	$265,000	–	7,068	–	1.26%	–
CSTL	New	CASTLE BIOSCIENCES INC	$208,000	–	7,967	–	0.99%	–
OPNT	New	OPIANT PHARMACEUTICALS INC	$190,000	–	17,633	–	0.90%	–
ZETA	Exit	ZETA GLOBAL HOLDINGS CORPcl a	$0	–	-40,799	–	-0.89%	–
OPRX	Exit	OPTIMIZERX CORP	$0	–	-8,006	–	-1.06%	–
COWN	Exit	COWEN INCcl a new	$0	–	-10,806	–	-1.24%	–
CCRN	Exit	CROSS CTRY HEALTHCARE INC	$0	–	-12,643	–	-1.27%	–
ECOM	Exit	CHANNELADVISOR CORP	$0	–	-19,657	–	-1.39%	–
GRBK	Exit	GREEN BRICK PARTNERS INC	$0	–	-14,988	–	-1.42%	–

Q2 2022

			Value		Shares		↓ Weighting
UFPT	New	UFP TECHNOLOGIES INC	$630,000	–	7,916	–	3.05%	–
TALO	New	TALOS ENERGY INC	$516,000	–	33,344	–	2.50%	–
SP	New	SP PLUS CORP	$479,000	–	15,581	–	2.32%	–
NSSC	New	NAPCO SEC TECHNOLOGIES INC	$473,000	–	22,974	–	2.29%	–
UTI	New	UNIVERSAL TECHNICAL INST INC	$467,000	–	65,499	–	2.26%	–
CELH	New	CELSIUS HLDGS INC	$460,000	–	7,052	–	2.22%	–
STRL	New	STERLING INFRASTRUCTURE INC	$426,000	–	19,447	–	2.06%	–
COHU	New	COHU INC	$411,000	–	14,818	–	1.99%	–
AVNW	New	AVIAT NETWORKS INC	$389,000	–	15,537	–	1.88%	–
BWB	New	BRIDGEWATER BANCSHARES INC	$386,000	–	23,893	–	1.87%	–
CLAR	New	CLARUS CORP NEW	$384,000	–	20,227	–	1.86%	–
CNOB	New	CONNECTONE BANCORP INC	$380,000	–	15,559	–	1.84%	–
ONTO	New	ONTO INNOVATION INC	$380,000	–	5,442	–	1.84%	–
CCB	New	COASTAL FINL CORP WA	$377,000	–	9,882	–	1.82%	–
RCKY	New	ROCKY BRANDS INC	$374,000	–	10,946	–	1.81%	–
OSBC	New	OLD SECOND BANCORP INC ILL	$371,000	–	27,703	–	1.80%	–
GLDD	New	GREAT LAKES DREDGE & DOCK CO	$363,000	–	27,685	–	1.76%	–
MYFW	New	FIRST WESTN FINL INC	$350,000	–	12,859	–	1.69%	–
GDYN	New	GRID DYNAMICS HLDGS INCcl a	$347,000	–	20,653	–	1.68%	–
BANC	New	BANC OF CALIFORNIA INC	$347,000	–	19,689	–	1.68%	–
BFST	New	BUSINESS FIRST BANCSHARES IN	$340,000	–	15,963	–	1.64%	–
ONEW	New	ONEWATER MARINE INC	$334,000	–	10,092	–	1.62%	–
IIIV	New	I3 VERTICALS INC	$320,000	–	12,773	–	1.55%	–
AMOT	New	ALLIED MOTION TECHNOLOGIES I	$317,000	–	13,896	–	1.53%	–
ALTG	New	ALTA EQUIPMENT GROUP INC	$317,000	–	35,384	–	1.53%	–
FFWM	New	FIRST FNDTN INC	$315,000	–	15,388	–	1.52%	–
	New	CADRE HLDGS INC	$315,000	–	15,997	–	1.52%	–
EXTR	New	EXTREME NETWORKS INC	$313,000	–	35,040	–	1.51%	–
TBK	New	TRIUMPH BANCORP INC	$307,000	–	4,900	–	1.48%	–
MBUU	New	MALIBU BOATS INC	$305,000	–	5,779	–	1.48%	–
GTLS	New	CHART INDS INC	$299,000	–	1,785	–	1.45%	–
GRBK	New	GREEN BRICK PARTNERS INC	$293,000	–	14,988	–	1.42%	–
ARLO	New	ARLO TECHNOLOGIES INC	$291,000	–	46,384	–	1.41%	–
MEC	New	MAYVILLE ENGR CO INC	$288,000	–	37,212	–	1.39%	–
ECOM	New	CHANNELADVISOR CORP	$287,000	–	19,657	–	1.39%	–
HLIT	New	HARMONIC INC	$287,000	–	33,141	–	1.39%	–
INSE	New	INSPIRED ENTMT INC	$280,000	–	32,505	–	1.35%	–
EVC	New	ENTRAVISION COMMUNICATIONS Ccl a	$278,000	–	60,874	–	1.34%	–
ATLC	New	ATLANTICUS HOLDINGS CORP	$273,000	–	7,773	–	1.32%	–
CASH	New	META FINL GROUP INC	$273,000	–	7,050	–	1.32%	–
MGNI	New	MAGNITE INC	$271,000	–	30,565	–	1.31%	–
	New	ARIS WATER SOLUTIONS INC	$269,000	–	16,144	–	1.30%	–
VCEL	New	VERICEL CORP	$268,000	–	10,656	–	1.30%	–
ATEC	New	ALPHATEC HLDGS INC	$268,000	–	41,020	–	1.30%	–
ITI	New	ITERIS INC NEW	$267,000	–	92,487	–	1.29%	–
SKY	New	SKYLINE CHAMPION CORPORATION	$265,000	–	5,596	–	1.28%	–
CCRN	New	CROSS CTRY HEALTHCARE INC	$263,000	–	12,643	–	1.27%	–
SBOW	New	SILVERBOW RES INC	$263,000	–	9,283	–	1.27%	–
ROAD	New	CONSTRUCTION PARTNERS INC	$258,000	–	12,323	–	1.25%	–
COWN	New	COWEN INCcl a new	$256,000	–	10,806	–	1.24%	–
DLTH	New	DULUTH HLDGS INC	$249,000	–	26,105	–	1.20%	–
	New	NERDWALLET INC	$249,000	–	31,337	–	1.20%	–
BHR	New	BRAEMAR HOTELS & RESORTS INC	$245,000	–	57,093	–	1.18%	–
GVA	New	GRANITE CONSTR INC	$236,000	–	8,112	–	1.14%	–
INVE	New	IDENTIV INC	$234,000	–	20,187	–	1.13%	–
ANDE	New	ANDERSONS INC	$231,000	–	7,017	–	1.12%	–
FLL	New	FULL HSE RESORTS INC	$231,000	–	38,011	–	1.12%	–
PDFS	New	PDF SOLUTIONS INC	$230,000	–	10,671	–	1.11%	–
TFFP	New	TFF PHARMACEUTICALS INC	$226,000	–	40,013	–	1.09%	–
MLR	New	MILLER INDS INC TENN	$223,000	–	9,822	–	1.08%	–
PLYM	New	PLYMOUTH INDL REIT INC	$222,000	–	12,680	–	1.07%	–
OPRX	New	OPTIMIZERX CORP	$219,000	–	8,006	–	1.06%	–
ANIP	New	ANI PHARMACEUTICALS INC	$204,000	–	6,892	–	0.99%	–
SHYF	New	SHYFT GROUP INC	$199,000	–	10,705	–	0.96%	–
ZETA	New	ZETA GLOBAL HOLDINGS CORPcl a	$184,000	–	40,799	–	0.89%	–
BLFS	New	BIOLIFE SOLUTIONS INC	$145,000	–	10,497	–	0.70%	–
ASPN	New	ASPEN AEROGELS INC	$137,000	–	13,910	–	0.66%	–
	New	LIVEONE INC	$12,000	–	13,546	–	0.06%	–
VERB	New	VERB TECHNOLOGY CO INC	$7,000	–	13,234	–	0.03%	–

Q4 2021

			Value		Shares		↓ Weighting
REED	Exit	REEDS INC	$0	–	-21,680	–	-0.04%	–
MINM	Exit	MINIM INC	$0	–	-11,000	–	-0.06%	–
VERB	Exit	VERB TECHNOLOGY CO INC	$0	–	-13,234	–	-0.07%	–
ELOX	Exit	ELOXX PHARMACEUTICALS INC	$0	–	-18,894	–	-0.09%	–
IIIV	Exit	I3 VERTICALS INC	$0	–	-11,023	–	-0.79%	–
KBAL	Exit	KIMBALL INTL INCcl b	$0	–	-25,254	–	-0.83%	–
BYRN	Exit	BYRNA TECHNOLOGIES INC	$0	–	-13,663	–	-0.88%	–
INFU	Exit	INFUSYSTEM HLDGS INC	$0	–	-22,943	–	-0.88%	–
TFFP	Exit	TFF PHARMACEUTICALS INC	$0	–	-40,005	–	-0.91%	–
CVGI	Exit	COMMERCIAL VEH GROUP INC	$0	–	-32,950	–	-0.92%	–
FTCI	Exit	FTC SOLAR INC	$0	–	-40,213	–	-0.92%	–
BOOM	Exit	DMC GLOBAL INC	$0	–	-8,590	–	-0.93%	–
	Exit	EVOLV TECHNOLOGIES HLDNGS IN	$0	–	-53,599	–	-0.95%	–
MLR	Exit	MILLER INDS INC TENN	$0	–	-9,815	–	-0.98%	–
CURI	Exit	CURIOSITYSTREAM INC	$0	–	-32,296	–	-1.00%	–
NKTX	Exit	NKARTA INC	$0	–	-12,392	–	-1.02%	–
JOUT	Exit	JOHNSON OUTDOORS INCcl a	$0	–	-3,278	–	-1.02%	–
ICAD	Exit	ICAD INC	$0	–	-32,897	–	-1.04%	–
DLTH	Exit	DULUTH HLDGS INC	$0	–	-26,103	–	-1.05%	–
AVNW	Exit	AVIAT NETWORKS INC	$0	–	-11,061	–	-1.07%	–
ZIXI	Exit	ZIX CORP	$0	–	-51,549	–	-1.07%	–
COHU	Exit	COHU INC	$0	–	-11,550	–	-1.09%	–
ITI	Exit	ITERIS INC NEW	$0	–	-70,092	–	-1.09%	–
INSE	Exit	INSPIRED ENTMT INC	$0	–	-32,500	–	-1.12%	–
VEC	Exit	VECTRUS INC	$0	–	-7,641	–	-1.13%	–
BHR	Exit	BRAEMAR HOTELS & RESORTS INC	$0	–	-80,165	–	-1.14%	–
AGS	Exit	PLAYAGS INC	$0	–	-50,810	–	-1.18%	–
ANIP	Exit	ANI PHARMACEUTICALS INC	$0	–	-12,277	–	-1.19%	–
RMBL	Exit	RUMBLEON INC	$0	–	-10,461	–	-1.20%	–
QNST	Exit	QUINSTREET INC	$0	–	-23,478	–	-1.21%	–
VSEC	Exit	VSE CORP	$0	–	-8,576	–	-1.22%	–
UFPT	Exit	UFP TECHNOLOGIES INC	$0	–	-6,794	–	-1.23%	–
CDNA	Exit	CAREDX INC	$0	–	-6,704	–	-1.25%	–
ONEW	Exit	ONEWATER MARINE INC	$0	–	-10,608	–	-1.26%	–
ALDX	Exit	ALDEYRA THERAPEUTICS INC	$0	–	-48,711	–	-1.26%	–
AMOT	Exit	ALLIED MOTION TECHNOLOGIES I	$0	–	-13,885	–	-1.28%	–
FBK	Exit	FB FINL CORP	$0	–	-10,430	–	-1.32%	–
ROAD	Exit	CONSTRUCTION PARTNERS INC	$0	–	-13,464	–	-1.32%	–
HCAT	Exit	HEALTH CATALYST INC	$0	–	-8,996	–	-1.32%	–
PWFL	Exit	POWERFLEET INC	$0	–	-67,718	–	-1.34%	–
TACT	Exit	TRANSACT TECHNOLOGIES INC	$0	–	-32,712	–	-1.34%	–
PATK	Exit	PATRICK INDS INC	$0	–	-5,573	–	-1.37%	–
MCFT	Exit	MASTERCRAFT BOAT HLDGS INC	$0	–	-18,498	–	-1.37%	–
NOTV	Exit	INOTIV INC	$0	–	-15,945	–	-1.37%	–
GLDD	Exit	GREAT LAKES DREDGE & DOCK CO	$0	–	-31,559	–	-1.40%	–
DENN	Exit	DENNYS CORP	$0	–	-29,226	–	-1.41%	–
IDN	Exit	INTELLICHECK INC	$0	–	-58,990	–	-1.42%	–
LUNA	Exit	LUNA INNOVATIONS INC	$0	–	-51,095	–	-1.43%	–
EXTR	Exit	EXTREME NETWORKS INC	$0	–	-49,444	–	-1.43%	–
GNSS	Exit	GENASYS INC	$0	–	-95,244	–	-1.45%	–
ECOM	Exit	CHANNELADVISOR CORP	$0	–	-19,645	–	-1.46%	–
OSBC	Exit	OLD SECOND BANCORP INC ILL	$0	–	-38,075	–	-1.46%	–
BLFS	Exit	BIOLIFE SOLUTIONS INC	$0	–	-11,799	–	-1.47%	–
ATEC	Exit	ALPHATEC HLDGS INC	$0	–	-41,013	–	-1.47%	–
SKY	Exit	SKYLINE CHAMPION CORPORATION	$0	–	-8,516	–	-1.50%	–
TLS	Exit	TELOS CORP MD	$0	–	-18,062	–	-1.51%	–
MIRM	Exit	MIRUM PHARMACEUTICALS INC	$0	–	-25,795	–	-1.51%	–
MYFW	Exit	FIRST WESTN FINL INC	$0	–	-17,909	–	-1.52%	–
CLAR	Exit	CLARUS CORP NEW	$0	–	-20,225	–	-1.52%	–
VCEL	Exit	VERICEL CORP	$0	–	-10,656	–	-1.53%	–
CSTL	Exit	CASTLE BIOSCIENCES INC	$0	–	-7,960	–	-1.56%	–
JYNT	Exit	JOINT CORP	$0	–	-5,406	–	-1.56%	–
BWB	Exit	BRIDGEWATER BANCSHARES INC	$0	–	-31,003	–	-1.60%	–
CASH	Exit	META FINL GROUP INC	$0	–	-10,369	–	-1.60%	–
TALO	Exit	TALOS ENERGY INC	$0	–	-39,662	–	-1.61%	–
UTI	Exit	UNIVERSAL TECHNICAL INST INC	$0	–	-81,251	–	-1.62%	–
STRL	Exit	STERLING CONSTR INC	$0	–	-24,224	–	-1.62%	–
GTLS	Exit	CHART INDS INC	$0	–	-2,918	–	-1.64%	–
CNOB	Exit	CONNECTONE BANCORP INC	$0	–	-18,650	–	-1.65%	–
CELH	Exit	CELSIUS HLDGS INC	$0	–	-6,253	–	-1.66%	–
SHYF	Exit	SHYFT GROUP INC	$0	–	-14,920	–	-1.67%	–
FFWM	Exit	FIRST FNDTN INC	$0	–	-22,589	–	-1.75%	–
TSC	Exit	TRISTATE CAP HLDGS INC	$0	–	-28,212	–	-1.76%	–
ONTO	Exit	ONTO INNOVATION INC	$0	–	-8,467	–	-1.80%	–
NSSC	Exit	NAPCO SEC TECHNOLOGIES INC	$0	–	-15,431	–	-1.96%	–
MEC	Exit	MAYVILLE ENGR CO INC	$0	–	-37,192	–	-2.06%	–
ALTG	Exit	ALTA EQUIPMENT GROUP INC	$0	–	-51,114	–	-2.07%	–
TBK	Exit	TRIUMPH BANCORP INC	$0	–	-7,577	–	-2.23%	–

Q3 2021

			Value		Shares		↓ Weighting
TBK	Sell	TRIUMPH BANCORP INC	$759,000	+31.3%	7,577	-2.7%	2.23%	+51.3%
ALTG	Sell	ALTA EQUIPMENT GROUP INC	$702,000	+0.4%	51,114	-2.8%	2.07%	+15.7%
MEC	Sell	MAYVILLE ENGR CO INC	$699,000	-9.3%	37,192	-3.1%	2.06%	+4.4%
NSSC	Sell	NAPCO SEC TECHNOLOGIES INC	$665,000	+15.3%	15,431	-2.7%	1.96%	+32.8%
ONTO	Sell	ONTO INNOVATION INC	$612,000	-3.9%	8,467	-2.9%	1.80%	+10.6%
TSC	Sell	TRISTATE CAP HLDGS INC	$597,000	+0.8%	28,212	-2.8%	1.76%	+16.1%
FFWM	Sell	FIRST FNDTN INC	$594,000	+13.4%	22,589	-2.9%	1.75%	+30.5%
SHYF	Sell	SHYFT GROUP INC	$567,000	-24.5%	14,920	-25.7%	1.67%	-13.0%
CELH	Sell	CELSIUS HLDGS INC	$563,000	-7.9%	6,253	-22.1%	1.66%	+6.1%
CNOB	Sell	CONNECTONE BANCORP INC	$560,000	-11.1%	18,650	-22.6%	1.65%	+2.4%
GTLS	Sell	CHART INDS INC	$558,000	-3.1%	2,918	-25.8%	1.64%	+11.5%
UTI	Sell	UNIVERSAL TECHNICAL INST INC	$549,000	+1.3%	81,251	-2.8%	1.62%	+16.7%
STRL	Sell	STERLING CONSTR INC	$549,000	-26.7%	24,224	-22.0%	1.62%	-15.6%
TALO	Sell	TALOS ENERGY INC	$546,000	-14.7%	39,662	-3.1%	1.61%	-1.7%
CASH	Sell	META FINL GROUP INC	$544,000	+0.7%	10,369	-2.8%	1.60%	+16.0%
BWB	Sell	BRIDGEWATER BANCSHARES INC	$543,000	+5.4%	31,003	-2.7%	1.60%	+21.4%
JYNT	Sell	JOINT CORP	$530,000	+13.5%	5,406	-2.8%	1.56%	+30.8%
CSTL	Sell	CASTLE BIOSCIENCES INC	$529,000	-11.8%	7,960	-2.7%	1.56%	+1.6%
VCEL	Sell	VERICEL CORP	$520,000	-9.7%	10,656	-2.8%	1.53%	+4.0%
CLAR	Sell	CLARUS CORP NEW	$518,000	-22.7%	20,225	-22.4%	1.52%	-10.9%
MYFW	New	FIRST WESTN FINL INC	$517,000	–	17,909	–	1.52%	–
MIRM	New	MIRUM PHARMACEUTICALS INC	$514,000	–	25,795	–	1.51%	–
TLS	New	TELOS CORP MD	$513,000	–	18,062	–	1.51%	–
SKY	Sell	SKYLINE CHAMPION CORPORATION	$511,000	+9.7%	8,516	-2.7%	1.50%	+26.3%
ATEC	Sell	ALPHATEC HLDGS INC	$500,000	-22.4%	41,013	-2.5%	1.47%	-10.5%
BLFS	Sell	BIOLIFE SOLUTIONS INC	$499,000	-23.1%	11,799	-19.1%	1.47%	-11.4%
OSBC	New	OLD SECOND BANCORP INC ILL	$497,000	–	38,075	–	1.46%	–
ECOM	Sell	CHANNELADVISOR CORP	$496,000	-0.2%	19,645	-3.0%	1.46%	+15.0%
GNSS	New	GENASYS INC	$493,000	–	95,244	–	1.45%	–
EXTR	Sell	EXTREME NETWORKS INC	$487,000	-14.3%	49,444	-2.8%	1.43%	-1.2%
LUNA	Sell	LUNA INNOVATIONS INC	$485,000	-14.8%	51,095	-2.7%	1.43%	-1.8%
IDN	Buy	INTELLICHECK INC	$483,000	+22.3%	58,990	+24.9%	1.42%	+40.9%
DENN	Sell	DENNYS CORP	$478,000	-3.2%	29,226	-2.5%	1.41%	+11.5%
GLDD	Sell	GREAT LAKES DREDGE & DOCK CO	$476,000	+0.2%	31,559	-2.9%	1.40%	+15.4%
NOTV	New	INOTIV INC	$466,000	–	15,945	–	1.37%	–
PATK	Sell	PATRICK INDS INC	$464,000	+10.7%	5,573	-2.8%	1.37%	+27.5%
MCFT	New	MASTERCRAFT BOAT HLDGS INC	$464,000	–	18,498	–	1.37%	–
TACT	New	TRANSACT TECHNOLOGIES INC	$455,000	–	32,712	–	1.34%	–
PWFL	New	POWERFLEET INC	$454,000	–	67,718	–	1.34%	–
HCAT	Sell	HEALTH CATALYST INC	$450,000	-12.6%	8,996	-3.0%	1.32%	+0.7%
ROAD	Sell	CONSTRUCTION PARTNERS INC	$449,000	+3.2%	13,464	-2.8%	1.32%	+19.0%
FBK	Sell	FB FINL CORP	$447,000	+11.5%	10,430	-2.9%	1.32%	+28.4%
AMOT	Sell	ALLIED MOTION TECHNOLOGIES I	$434,000	-12.1%	13,885	-2.9%	1.28%	+1.2%
ALDX	Sell	ALDEYRA THERAPEUTICS INC	$428,000	-24.5%	48,711	-2.7%	1.26%	-13.0%
ONEW	Buy	ONEWATER MARINE INC	$427,000	+22.7%	10,608	+28.3%	1.26%	+41.4%
CDNA	Sell	CAREDX INC	$425,000	-32.5%	6,704	-2.6%	1.25%	-22.3%
UFPT	Sell	UFP TECHNOLOGIES INC	$418,000	+4.2%	6,794	-2.7%	1.23%	+20.0%
VSEC	Sell	VSE CORP	$413,000	-5.5%	8,576	-2.8%	1.22%	+8.9%
QNST	Sell	QUINSTREET INC	$412,000	-7.6%	23,478	-2.3%	1.21%	+6.4%
RMBL	New	RUMBLEON INC	$408,000	–	10,461	–	1.20%	–
ANIP	Buy	ANI PHARMACEUTICALS INC	$403,000	+27.9%	12,277	+36.8%	1.19%	+47.3%
AGS	New	PLAYAGS INC	$400,000	–	50,810	–	1.18%	–
BHR	New	BRAEMAR HOTELS & RESORTS INC	$389,000	–	80,165	–	1.14%	–
VEC	Sell	VECTRUS INC	$384,000	+2.4%	7,641	-2.9%	1.13%	+18.0%
INSE	Sell	INSPIRED ENTMT INC	$380,000	-10.8%	32,500	-2.8%	1.12%	+2.8%
ITI	Sell	ITERIS INC NEW	$370,000	-22.8%	70,092	-2.6%	1.09%	-11.0%
COHU	Sell	COHU INC	$369,000	-15.6%	11,550	-2.8%	1.09%	-2.8%
ZIXI	Sell	ZIX CORP	$364,000	-2.7%	51,549	-2.8%	1.07%	+12.0%
AVNW	Sell	AVIAT NETWORKS INC	$363,000	-2.7%	11,061	-2.8%	1.07%	+12.1%
DLTH	Sell	DULUTH HLDGS INC	$356,000	-35.6%	26,103	-2.5%	1.05%	-25.8%
ICAD	Sell	ICAD INC	$354,000	-39.8%	32,897	-3.1%	1.04%	-30.6%
JOUT	Sell	JOHNSON OUTDOORS INCcl a	$347,000	-15.2%	3,278	-3.0%	1.02%	-2.3%
NKTX	Buy	NKARTA INC	$345,000	+21.5%	12,392	+38.1%	1.02%	+39.8%
CURI	Sell	CURIOSITYSTREAM INC	$340,000	-24.9%	32,296	-2.8%	1.00%	-13.5%
MLR	Sell	MILLER INDS INC TENN	$334,000	-16.1%	9,815	-2.8%	0.98%	-3.3%
	New	EVOLV TECHNOLOGIES HLDNGS IN	$322,000	–	53,599	–	0.95%	–
BOOM	Sell	DMC GLOBAL INC	$317,000	-36.2%	8,590	-2.9%	0.93%	-26.5%
FTCI	Sell	FTC SOLAR INC	$313,000	-43.2%	40,213	-2.8%	0.92%	-34.6%
CVGI	Sell	COMMERCIAL VEH GROUP INC	$312,000	-13.3%	32,950	-2.8%	0.92%	-0.2%
TFFP	Buy	TFF PHARMACEUTICALS INC	$309,000	+17.5%	40,005	+46.4%	0.91%	+35.3%
BYRN	New	BYRNA TECHNOLOGIES INC	$299,000	–	13,663	–	0.88%	–
INFU	New	INFUSYSTEM HLDGS INC	$299,000	–	22,943	–	0.88%	–
KBAL	Sell	KIMBALL INTL INCcl b	$283,000	-17.0%	25,254	-2.6%	0.83%	-4.4%
IIIV	Sell	I3 VERTICALS INC	$267,000	-22.4%	11,023	-3.1%	0.79%	-10.6%
VERB	Sell	VERB TECHNOLOGY CO INC	$25,000	-49.0%	13,234	-44.4%	0.07%	-40.8%
MINM	New	MINIM INC	$20,000	–	11,000	–	0.06%	–
SONM	Exit	SONIM TECHNOLOGIES INC	$0	–	-20,248	–	-0.03%	–
KALA	Exit	KALA PHARMACEUTICALS INC	$0	–	-42,104	–	-0.57%	–
GAN	Exit	GAN LTD	$0	–	-15,196	–	-0.64%	–
FLXN	Exit	FLEXION THERAPEUTICS INC	$0	–	-31,632	–	-0.66%	–
MLAB	Exit	MESA LABS INC	$0	–	-1,315	–	-0.91%	–
ITIC	Exit	INVESTORS TITLE CO NC	$0	–	-2,070	–	-0.92%	–
INN	Exit	SUMMIT HOTEL PPTYS INC	$0	–	-39,153	–	-0.93%	–
DSPG	Exit	DSP GROUPS INC	$0	–	-26,536	–	-1.00%	–
OSPN	Exit	ONESPAN INC	$0	–	-15,437	–	-1.01%	–
MTBC	Exit	CARECLOUD INC	$0	–	-47,922	–	-1.03%	–
ZYXI	Exit	ZYNEX INC	$0	–	-26,207	–	-1.04%	–
CIVB	Exit	CIVISTA BANCSHARES INC	$0	–	-18,444	–	-1.04%	–
ACU	Exit	ACME UTD CORP	$0	–	-9,168	–	-1.04%	–
PLYM	Exit	PLYMOUTH INDL REIT INC	$0	–	-20,657	–	-1.06%	–
IDYA	Exit	IDEAYA BIOSCIENCES INC	$0	–	-20,084	–	-1.08%	–
LINC	Exit	LINCOLN EDL SVCS CORP	$0	–	-54,386	–	-1.08%	–
SAMG	Exit	SILVERCREST ASSET MGMT GROUPcl a	$0	–	-29,075	–	-1.12%	–
PAE	Exit	PAE INC	$0	–	-50,024	–	-1.14%	–
FARM	Exit	FARMER BROS CO	$0	–	-38,961	–	-1.26%	–
MSON	Exit	MISONIX INC	$0	–	-24,126	–	-1.37%	–
SSTI	Exit	SHOTSPOTTER INC	$0	–	-11,365	–	-1.42%	–
GDYN	Exit	GRID DYNAMICS HLDGS INCcl a	$0	–	-37,979	–	-1.46%	–
RBNC	Exit	RELIANT BANCORP INC	$0	–	-20,800	–	-1.47%	–

Q2 2021

			Value		Shares		↓ Weighting
MEC	New	MAYVILLE ENGR CO INC	$771,000	–	38,363	–	1.97%	–
SHYF	New	SHYFT GROUP INC	$751,000	–	20,082	–	1.92%	–
STRL	New	STERLING CONSTR INC	$749,000	–	31,055	–	1.91%	–
ALTG	New	ALTA EQUIPMENT GROUP INC	$699,000	–	52,569	–	1.79%	–
CLAR	New	CLARUS CORP NEW	$670,000	–	26,051	–	1.71%	–
BLFS	New	BIOLIFE SOLUTIONS INC	$649,000	–	14,591	–	1.66%	–
ATEC	New	ALPHATEC HLDGS INC	$644,000	–	42,065	–	1.64%	–
TALO	New	TALOS ENERGY INC	$640,000	–	40,925	–	1.64%	–
ONTO	New	ONTO INNOVATION INC	$637,000	–	8,721	–	1.63%	–
CDNA	New	CAREDX INC	$630,000	–	6,884	–	1.61%	–
CNOB	New	CONNECTONE BANCORP INC	$630,000	–	24,082	–	1.61%	–
CELH	New	CELSIUS HLDGS INC	$611,000	–	8,031	–	1.56%	–
CSTL	New	CASTLE BIOSCIENCES INC	$600,000	–	8,183	–	1.53%	–
TSC	New	TRISTATE CAP HLDGS INC	$592,000	–	29,035	–	1.51%	–
ICAD	New	ICAD INC	$588,000	–	33,948	–	1.50%	–
TBK	New	TRIUMPH BANCORP INC	$578,000	–	7,784	–	1.48%	–
RBNC	New	RELIANT BANCORP INC	$577,000	–	20,800	–	1.47%	–
NSSC	New	NAPCO SEC TECHNOLOGIES INC	$577,000	–	15,867	–	1.47%	–
GTLS	New	CHART INDS INC	$576,000	–	3,934	–	1.47%	–
VCEL	New	VERICEL CORP	$576,000	–	10,962	–	1.47%	–
GDYN	New	GRID DYNAMICS HLDGS INCcl a	$571,000	–	37,979	–	1.46%	–
LUNA	New	LUNA INNOVATIONS INC	$569,000	–	52,506	–	1.45%	–
EXTR	New	EXTREME NETWORKS INC	$568,000	–	50,874	–	1.45%	–
ALDX	New	ALDEYRA THERAPEUTICS INC	$567,000	–	50,062	–	1.45%	–
SSTI	New	SHOTSPOTTER INC	$554,000	–	11,365	–	1.42%	–
DLTH	New	DULUTH HLDGS INC	$553,000	–	26,786	–	1.41%	–
FTCI	New	FTC SOLAR INC	$551,000	–	41,368	–	1.41%	–
UTI	New	UNIVERSAL TECHNICAL INST INC	$542,000	–	83,573	–	1.38%	–
CASH	New	META FINL GROUP INC	$540,000	–	10,668	–	1.38%	–
MSON	New	MISONIX INC	$535,000	–	24,126	–	1.37%	–
FFWM	New	FIRST FNDTN INC	$524,000	–	23,260	–	1.34%	–
HCAT	New	HEALTH CATALYST INC	$515,000	–	9,278	–	1.32%	–
BWB	New	BRIDGEWATER BANCSHARES INC	$515,000	–	31,866	–	1.32%	–
ECOM	New	CHANNELADVISOR CORP	$497,000	–	20,259	–	1.27%	–
BOOM	New	DMC GLOBAL INC	$497,000	–	8,848	–	1.27%	–
DENN	New	DENNYS CORP	$494,000	–	29,985	–	1.26%	–
AMOT	New	ALLIED MOTION TECHNOLOGIES I	$494,000	–	14,298	–	1.26%	–
FARM	New	FARMER BROS CO	$494,000	–	38,961	–	1.26%	–
ITI	New	ITERIS INC NEW	$479,000	–	71,988	–	1.22%	–
GLDD	New	GREAT LAKES DREDGE & DOCK CO	$475,000	–	32,515	–	1.21%	–
JYNT	New	JOINT CORP	$467,000	–	5,560	–	1.19%	–
SKY	New	SKYLINE CHAMPION CORPORATION	$466,000	–	8,750	–	1.19%	–
CURI	New	CURIOSITYSTREAM INC	$453,000	–	33,221	–	1.16%	–
QNST	New	QUINSTREET INC	$446,000	–	24,024	–	1.14%	–
PAE	New	PAE INC	$445,000	–	50,024	–	1.14%	–
COHU	New	COHU INC	$437,000	–	11,882	–	1.12%	–
VSEC	New	VSE CORP	$437,000	–	8,823	–	1.12%	–
SAMG	New	SILVERCREST ASSET MGMT GROUPcl a	$437,000	–	29,075	–	1.12%	–
ROAD	New	CONSTRUCTION PARTNERS INC	$435,000	–	13,848	–	1.11%	–
INSE	New	INSPIRED ENTMT INC	$426,000	–	33,432	–	1.09%	–
LINC	New	LINCOLN EDL SVCS CORP	$423,000	–	54,386	–	1.08%	–
IDYA	New	IDEAYA BIOSCIENCES INC	$422,000	–	20,084	–	1.08%	–
PATK	New	PATRICK INDS INC	$419,000	–	5,733	–	1.07%	–
PLYM	New	PLYMOUTH INDL REIT INC	$414,000	–	20,657	–	1.06%	–
JOUT	New	JOHNSON OUTDOORS INCcl a	$409,000	–	3,380	–	1.04%	–
ACU	New	ACME UTD CORP	$409,000	–	9,168	–	1.04%	–
CIVB	New	CIVISTA BANCSHARES INC	$408,000	–	18,444	–	1.04%	–
ZYXI	New	ZYNEX INC	$407,000	–	26,207	–	1.04%	–
MTBC	New	CARECLOUD INC	$404,000	–	47,922	–	1.03%	–
UFPT	New	UFP TECHNOLOGIES INC	$401,000	–	6,980	–	1.02%	–
FBK	New	FB FINL CORP	$401,000	–	10,738	–	1.02%	–
MLR	New	MILLER INDS INC TENN	$398,000	–	10,099	–	1.02%	–
IDN	New	INTELLICHECK INC	$395,000	–	47,213	–	1.01%	–
OSPN	New	ONESPAN INC	$394,000	–	15,437	–	1.01%	–
DSPG	New	DSP GROUPS INC	$393,000	–	26,536	–	1.00%	–
VEC	New	VECTRUS INC	$375,000	–	7,872	–	0.96%	–
ZIXI	New	ZIX CORP	$374,000	–	53,010	–	0.96%	–
AVNW	New	AVIAT NETWORKS INC	$373,000	–	11,382	–	0.95%	–
INN	New	SUMMIT HOTEL PPTYS INC	$365,000	–	39,153	–	0.93%	–
ITIC	New	INVESTORS TITLE CO NC	$361,000	–	2,070	–	0.92%	–
CVGI	New	COMMERCIAL VEH GROUP INC	$360,000	–	33,908	–	0.92%	–
MLAB	New	MESA LABS INC	$357,000	–	1,315	–	0.91%	–
ONEW	New	ONEWATER MARINE INC	$348,000	–	8,271	–	0.89%	–
IIIV	New	I3 VERTICALS INC	$344,000	–	11,379	–	0.88%	–
KBAL	New	KIMBALL INTL INCcl b	$341,000	–	25,927	–	0.87%	–
ANIP	New	ANI PHARMACEUTICALS INC	$315,000	–	8,974	–	0.80%	–
NKTX	New	NKARTA INC	$284,000	–	8,974	–	0.73%	–
TFFP	New	TFF PHARMACEUTICALS INC	$263,000	–	27,323	–	0.67%	–
FLXN	New	FLEXION THERAPEUTICS INC	$260,000	–	31,632	–	0.66%	–
GAN	New	GAN LTD	$250,000	–	15,196	–	0.64%	–
KALA	New	KALA PHARMACEUTICALS INC	$223,000	–	42,104	–	0.57%	–
VERB	New	VERB TECHNOLOGY CO INC	$49,000	–	23,783	–	0.12%	–
ELOX	New	ELOXX PHARMACEUTICALS INC	$38,000	–	18,894	–	0.10%	–
REED	New	REEDS INC	$22,000	–	21,680	–	0.06%	–
SONM	New	SONIM TECHNOLOGIES INC	$11,000	–	20,248	–	0.03%	–

Q4 2020

			Value		Shares		↓ Weighting
TALO	Exit	TALOS ENERGY INC	$0	–	-29,321	–	-0.81%	–
INN	Exit	SUMMIT HOTEL PPTYS INC	$0	–	-39,289	–	-0.87%	–
EXTR	Exit	EXTREME NETWORKS INC	$0	–	-51,775	–	-0.89%	–
UTI	Exit	UNIVERSAL TECHNICAL INST INC	$0	–	-42,324	–	-0.92%	–
SKYW	Exit	SKYWEST INC	$0	–	-7,425	–	-0.95%	–
ROAD	Exit	CONSTRUCTION PARTNERS INC	$0	–	-13,482	–	-1.05%	–
PAE	Exit	PAE INC	$0	–	-29,943	–	-1.09%	–
ONTO	Exit	ONTO INNOVATION INC	$0	–	-8,903	–	-1.14%	–
ANIP	Exit	ANI PHARMACEUTICALS INC	$0	–	-9,433	–	-1.14%	–
GAN	Exit	GAN LTD	$0	–	-15,830	–	-1.15%	–
MSON	Exit	MISONIX INC	$0	–	-23,116	–	-1.16%	–
KALA	Exit	KALA PHARMACEUTICALS INC	$0	–	-36,445	–	-1.17%	–
ITIC	Exit	INVESTORS TITLE CO NC	$0	–	-2,106	–	-1.17%	–
FBK	Exit	FB FINL CORP	$0	–	-10,944	–	-1.18%	–
KBAL	Exit	KIMBALL INTL INCcl b	$0	–	-26,208	–	-1.18%	–
ZIXI	Exit	ZIX CORP	$0	–	-47,384	–	-1.19%	–
VEC	Exit	VECTRUS INC	$0	–	-7,464	–	-1.22%	–
SAMG	Exit	SILVERCREST ASSET MGMT GROUPcl a	$0	–	-27,138	–	-1.22%	–
JOUT	Exit	JOHNSON OUTDOORS INCcl a	$0	–	-3,467	–	-1.22%	–
ICAD	Exit	ICAD INC	$0	–	-33,071	–	-1.25%	–
ITI	Exit	ITERIS INC NEW	$0	–	-71,406	–	-1.26%	–
TBK	Exit	TRIUMPH BANCORP INC	$0	–	-9,428	–	-1.26%	–
MTBC	Exit	MTBC INC	$0	–	-33,153	–	-1.26%	–
IIIV	Exit	I3 VERTICALS INC	$0	–	-11,693	–	-1.26%	–
BOOM	Exit	DMC GLOBAL INC	$0	–	-9,005	–	-1.27%	–
ECOM	Exit	CHANNELADVISOR CORP	$0	–	-20,755	–	-1.29%	–
BWB	Exit	BRIDGEWATER BANCSHARES INC	$0	–	-31,754	–	-1.29%	–
DENN	Exit	DENNYS CORP	$0	–	-30,380	–	-1.30%	–
RBNC	Exit	RELIANT BANCORP INC	$0	–	-21,174	–	-1.32%	–
CASH	Exit	META FINL GROUP INC	$0	–	-16,089	–	-1.32%	–
FFWM	Exit	FIRST FNDTN INC	$0	–	-23,724	–	-1.33%	–
LUNA	Exit	LUNA INNOVATIONS	$0	–	-52,108	–	-1.34%	–
PLYM	Exit	PLYMOUTH INDL REIT INC	$0	–	-25,454	–	-1.35%	–
MLR	Exit	MILLER INDS INC TENN	$0	–	-10,279	–	-1.35%	–
GLDD	Exit	GREAT LAKES DREDGE & DOCK CO	$0	–	-33,216	–	-1.35%	–
NKTX	Exit	NKARTA INC	$0	–	-10,694	–	-1.38%	–
IDN	Exit	INTELLICHECK INC	$0	–	-48,052	–	-1.38%	–
COHU	Exit	COHU INC	$0	–	-18,702	–	-1.38%	–
ACEL	Exit	ACCEL ENTERTAINMENT INC	$0	–	-30,824	–	-1.41%	–
ALTG	Exit	ALTA EQUIPMENT GROUP INC	$0	–	-42,638	–	-1.43%	–
PATK	Exit	PATRICK INDS INC	$0	–	-5,834	–	-1.44%	–
FLXN	Exit	FLEXION THERAPEUTICS INC	$0	–	-32,371	–	-1.44%	–
UPLD	Exit	UPLAND SOFTWARE INC	$0	–	-9,057	–	-1.46%	–
BEAT	Exit	BIOTELEMETRY INC	$0	–	-7,479	–	-1.46%	–
MLAB	Exit	MESA LABS INC	$0	–	-1,341	–	-1.47%	–
CNOB	Exit	CONNECTONE BANCORP INC	$0	–	-24,645	–	-1.49%	–
HCAT	Exit	HEALTH CATALYST INC	$0	–	-9,510	–	-1.49%	–
MWK	Exit	MOHAWK GROUP HLDGS INC	$0	–	-42,450	–	-1.50%	–
SKY	Exit	SKYLINE CHAMPION CORPORATION	$0	–	-13,212	–	-1.52%	–
MEC	Exit	MAYVILLE ENGINEERING CO INC	$0	–	-38,775	–	-1.53%	–
SSTI	Exit	SHOTSPOTTER INC	$0	–	-11,567	–	-1.54%	–
NSSC	Exit	NAPCO SEC TECHNOLOGIES INC	$0	–	-15,533	–	-1.56%	–
GMRE	Exit	GLOBAL MED REIT INC	$0	–	-27,275	–	-1.58%	–
UFPT	Exit	UFP TECHNOLOGIES INC	$0	–	-9,013	–	-1.60%	–
CLAR	Exit	CLARUS CORP NEW	$0	–	-26,466	–	-1.60%	–
TSC	Exit	TRISTATE CAP HLDGS INC	$0	–	-29,569	–	-1.68%	–
AMOT	Exit	ALLIED MOTION TECHNOLOGIES I	$0	–	-9,733	–	-1.72%	–
JYNT	Exit	JOINT CORP	$0	–	-23,891	–	-1.78%	–
BLFS	Exit	BIOLIFE SOLUTIONS INC	$0	–	-14,400	–	-1.79%	–
ATEC	Exit	ALPHATEC HLDGS INC	$0	–	-63,671	–	-1.81%	–
GTLS	Exit	CHART INDS INC	$0	–	-6,064	–	-1.83%	–
CSTL	Exit	CASTLE BIOSCIENCES INC	$0	–	-8,306	–	-1.83%	–
CELH	Exit	CELSIUS HLDGS INC	$0	–	-18,989	–	-1.85%	–
VCEL	Exit	VERICEL CORP	$0	–	-23,588	–	-1.87%	–
SHYF	Exit	SHYFT GROUP INC	$0	–	-23,229	–	-1.88%	–
CDNA	Exit	CAREDX INC	$0	–	-11,812	–	-1.92%	–
STRL	Exit	STERLING CONSTRUCTION CO INC	$0	–	-31,706	–	-1.92%	–
ALDX	Exit	ALDEYRA THERAPEUTICS INC	$0	–	-64,391	–	-2.04%	–
QNST	Exit	QUINSTREET INC	$0	–	-31,537	–	-2.14%	–
TFFP	Exit	TFF PHARMACEUTICALS INC	$0	–	-34,902	–	-2.76%	–

Q3 2020

			Value		Shares		↓ Weighting
TFFP	Sell	TFF PHARMACEUTICALS INC	$645,000	+106.1%	34,902	-35.7%	2.76%	+87.6%
QNST	Buy	QUINSTREET INC	$500,000	+52.4%	31,537	+0.7%	2.14%	+38.8%
ALDX	Sell	ALDEYRA THERAPEUTICS INC	$477,000	+24.9%	64,391	-29.7%	2.04%	+13.6%
STRL	Buy	STERLING CONSTRUCTION CO INC	$449,000	+36.1%	31,706	+0.7%	1.92%	+23.8%
CDNA	Buy	CAREDX INC	$448,000	+7.7%	11,812	+0.6%	1.92%	-2.0%
SHYF	Buy	SHYFT GROUP INC	$439,000	+13.1%	23,229	+0.7%	1.88%	+3.0%
VCEL	Buy	VERICEL CORP	$437,000	+56.6%	23,588	+16.7%	1.87%	+42.5%
CELH	Sell	CELSIUS HLDGS INC	$431,000	-10.4%	18,989	-53.5%	1.85%	-18.5%
CSTL	Buy	CASTLE BIOSCIENCES INC	$427,000	+37.3%	8,306	+0.7%	1.83%	+25.0%
GTLS	Sell	CHART INDS INC	$426,000	+19.0%	6,064	-17.8%	1.83%	+8.3%
ATEC	Buy	ALPHATEC HLDGS INC	$423,000	+90.5%	63,671	+34.7%	1.81%	+73.5%
BLFS	Sell	BIOLIFE SOLUTIONS INC	$417,000	+3.7%	14,400	-41.5%	1.79%	-5.6%
JYNT	Buy	JOINT CORP	$415,000	+14.3%	23,891	+0.6%	1.78%	+4.1%
AMOT	Buy	ALLIED MOTION TECHNOLOGIES I	$402,000	+17.9%	9,733	+0.6%	1.72%	+7.3%
TSC	Buy	TRISTATE CAP HLDGS INC	$391,000	-15.4%	29,569	+0.6%	1.68%	-22.9%
CLAR	Buy	CLARUS CORP NEW	$374,000	+23.0%	26,466	+0.8%	1.60%	+12.0%
UFPT	Buy	UFP TECHNOLOGIES INC	$373,000	+20.3%	9,013	+28.0%	1.60%	+9.5%
GMRE	Buy	GLOBAL MED REIT INC	$368,000	+19.9%	27,275	+0.6%	1.58%	+9.1%
NSSC	Buy	NAPCO SEC TECHNOLOGIES INC	$365,000	+1.1%	15,533	+0.7%	1.56%	-8.0%
SSTI	Buy	SHOTSPOTTER INC	$359,000	+48.3%	11,567	+20.5%	1.54%	+35.1%
MEC	Buy	MAYVILLE ENGINEERING CO INC	$356,000	+16.7%	38,775	+0.5%	1.53%	+6.3%
SKY	Sell	SKYLINE CHAMPION CORPORATION	$354,000	+3.8%	13,212	-5.8%	1.52%	-5.5%
MWK	New	MOHAWK GROUP HLDGS INC	$350,000	–	42,450	–	1.50%	–
HCAT	Buy	HEALTH CATALYST INC	$348,000	+48.1%	9,510	+18.2%	1.49%	+34.9%
CNOB	Buy	CONNECTONE BANCORP INC	$347,000	+6.8%	24,645	+22.4%	1.49%	-2.8%
MLAB	New	MESA LABS INC	$342,000	–	1,341	–	1.47%	–
UPLD	Buy	UPLAND SOFTWARE INC	$341,000	+16.8%	9,057	+7.9%	1.46%	+6.3%
BEAT	Buy	BIOTELEMETRY INC	$341,000	+16.0%	7,479	+14.8%	1.46%	+5.6%
FLXN	Buy	FLEXION THERAPEUTICS INC	$337,000	-20.3%	32,371	+0.6%	1.44%	-27.5%
PATK	Sell	PATRICK INDS INC	$336,000	-7.7%	5,834	-1.9%	1.44%	-16.0%
ALTG	Buy	ALTA EQUIPMENT GROUP INC	$334,000	+1.5%	42,638	+0.7%	1.43%	-7.6%
ACEL	Buy	ACCEL ENTERTAINMENT INC	$330,000	+11.9%	30,824	+0.7%	1.41%	+1.8%
IDN	Sell	INTELLICHECK INC	$321,000	-29.0%	48,052	-19.7%	1.38%	-35.3%
COHU	Buy	COHU INC	$321,000	-0.3%	18,702	+0.6%	1.38%	-9.2%
NKTX	New	NKARTA INC	$321,000	–	10,694	–	1.38%	–
GLDD	Buy	GREAT LAKES DREDGE & DOCK CO	$316,000	+10.9%	33,216	+8.1%	1.35%	+0.9%
MLR	Buy	MILLER INDS INC TENN	$314,000	+18.5%	10,279	+15.6%	1.35%	+7.9%
PLYM	Buy	PLYMOUTH INDL REIT INC	$314,000	-2.2%	25,454	+1.6%	1.35%	-10.9%
LUNA	New	LUNA INNOVATIONS	$312,000	–	52,108	–	1.34%	–
FFWM	Buy	FIRST FNDTN INC	$310,000	-19.5%	23,724	+0.6%	1.33%	-26.7%
CASH	Buy	META FINL GROUP INC	$309,000	+6.6%	16,089	+0.6%	1.32%	-3.0%
RBNC	Buy	RELIANT BANCORP INC	$307,000	-10.5%	21,174	+0.7%	1.32%	-18.5%
DENN	Buy	DENNYS CORP	$304,000	0.0%	30,380	+0.8%	1.30%	-8.9%
BWB	Buy	BRIDGEWATER BANCSHARES INC	$301,000	+18.0%	31,754	+27.5%	1.29%	+7.4%
ECOM	Sell	CHANNELADVISOR CORP	$300,000	-23.5%	20,755	-16.1%	1.29%	-30.3%
BOOM	Buy	DMC GLOBAL INC	$297,000	+20.2%	9,005	+0.6%	1.27%	+9.5%
IIIV	Sell	I3 VERTICALS INC	$295,000	-18.3%	11,693	-2.1%	1.26%	-25.6%
TBK	Buy	TRIUMPH BANCORP INC	$294,000	+29.5%	9,428	+0.6%	1.26%	+17.9%
MTBC	New	MTBC INC	$294,000	–	33,153	–	1.26%	–
ITI	Buy	ITERIS INC NEW	$293,000	-13.1%	71,406	+0.7%	1.26%	-20.9%
ICAD	New	ICAD INC	$291,000	–	33,071	–	1.25%	–
VEC	Buy	VECTRUS INC	$284,000	0.0%	7,464	+29.0%	1.22%	-9.0%
SAMG	New	SILVERCREST ASSET MGMT GROUPcl a	$284,000	–	27,138	–	1.22%	–
JOUT	Buy	JOHNSON OUTDOORS INCcl a	$284,000	-9.6%	3,467	+0.6%	1.22%	-17.7%
ZIXI	Buy	ZIX CORP	$277,000	-14.5%	47,384	+0.8%	1.19%	-22.2%
KBAL	Buy	KIMBALL INTL INCcl b	$276,000	-8.3%	26,208	+0.7%	1.18%	-16.5%
FBK	Buy	FB FINL CORP	$275,000	+2.2%	10,944	+0.6%	1.18%	-6.9%
ITIC	Buy	INVESTORS TITLE CO NC	$274,000	+7.9%	2,106	+0.6%	1.17%	-1.8%
KALA	New	KALA PHARMACEUTICALS INC	$273,000	–	36,445	–	1.17%	–
MSON	Buy	MISONIX INC	$271,000	-13.1%	23,116	+0.6%	1.16%	-20.9%
GAN	New	GAN LTD	$268,000	–	15,830	–	1.15%	–
ANIP	Buy	ANI PHARMACEUTICALS INC	$266,000	+0.4%	9,433	+15.3%	1.14%	-8.7%
ONTO	Buy	ONTO INNOVATION INC	$265,000	-12.0%	8,903	+0.6%	1.14%	-19.8%
PAE	New	PAE INC	$255,000	–	29,943	–	1.09%	–
ROAD	Sell	CONSTRUCTION PARTNERS INC	$245,000	-8.2%	13,482	-10.3%	1.05%	-16.5%
SKYW	Buy	SKYWEST INC	$222,000	-7.9%	7,425	+0.6%	0.95%	-16.1%
UTI	Buy	UNIVERSAL TECHNICAL INST INC	$215,000	-20.1%	42,324	+9.5%	0.92%	-27.2%
EXTR	New	EXTREME NETWORKS INC	$208,000	–	51,775	–	0.89%	–
INN	Buy	SUMMIT HOTEL PPTYS INC	$204,000	-12.1%	39,289	+0.6%	0.87%	-20.0%
TALO	Buy	TALOS ENERGY INC	$189,000	+7.4%	29,321	+53.2%	0.81%	-2.3%
OPNT	Exit	OPIANT PHARMACEUTICALS INC	$0	–	-19,780	–	-0.84%	–
JRSH	Exit	JERASH HLDGS US INC	$0	–	-38,832	–	-0.89%	–
OCX	Exit	ONCOCYTE CORP	$0	–	-99,282	–	-0.90%	–
ATCX	Exit	ATLAS TECHNICAL CONSULTANTS	$0	–	-33,299	–	-1.03%	–
MR	Exit	MONTAGE RES CORP	$0	–	-55,329	–	-1.03%	–
HRTX	Exit	HERON THERAPEUTICS INC	$0	–	-15,805	–	-1.09%	–
CCB	Exit	COASTAL FINL CORP WA	$0	–	-16,074	–	-1.10%	–
DSPG	Exit	DSP GROUP INC	$0	–	-15,547	–	-1.16%	–
OPTN	Exit	OPTINOSE INC	$0	–	-33,550	–	-1.18%	–
MYFW	Exit	FIRST WESTN FINL INC	$0	–	-17,748	–	-1.19%	–
DVAX	Exit	DYNAVAX TECHNOLOGIES CORP	$0	–	-37,371	–	-1.56%	–

Q2 2020

			Value		Shares		↓ Weighting
CELH	New	CELSIUS HLDGS INC	$481,000	–	40,843	–	2.26%	–
TSC	New	TRISTATE CAP HLDGS INC	$462,000	–	29,380	–	2.18%	–
IDN	New	INTELLICHECK INC	$452,000	–	59,852	–	2.13%	–
FLXN	New	FLEXION THERAPEUTICS INC	$423,000	–	32,186	–	1.99%	–
CDNA	New	CAREDX INC	$416,000	–	11,744	–	1.96%	–
BLFS	New	BIOLIFE SOLUTIONS INC	$402,000	–	24,611	–	1.89%	–
ECOM	New	CHANNELADVISOR CORP	$392,000	–	24,751	–	1.85%	–
SHYF	New	SHYFT GROUP INC	$388,000	–	23,060	–	1.83%	–
FFWM	New	FIRST FNDTN INC	$385,000	–	23,577	–	1.81%	–
ALDX	New	ALDEYRA THERAPEUTICS INC	$382,000	–	91,566	–	1.80%	–
PATK	New	PATRICK INDS INC	$364,000	–	5,945	–	1.71%	–
JYNT	New	JOINT CORP	$363,000	–	23,747	–	1.71%	–
IIIV	New	I3 VERTICALS INC	$361,000	–	11,940	–	1.70%	–
NSSC	New	NAPCO SEC TECHNOLOGIES INC	$361,000	–	15,425	–	1.70%	–
GTLS	New	CHART INDS INC	$358,000	–	7,377	–	1.69%	–
RBNC	New	RELIANT BANCORP INC	$343,000	–	21,037	–	1.62%	–
SKY	New	SKYLINE CHAMPION CORPORATION	$341,000	–	14,028	–	1.61%	–
AMOT	New	ALLIED MOTION TECHNOLOGIES I	$341,000	–	9,673	–	1.61%	–
ITI	New	ITERIS INC	$337,000	–	70,928	–	1.59%	–
DVAX	New	DYNAVAX TECHNOLOGIES CORP	$331,000	–	37,371	–	1.56%	–
STRL	New	STERLING CONSTRUCTION CO INC	$330,000	–	31,498	–	1.55%	–
ALTG	New	ALTA EQUIPMENT GROUP INC	$329,000	–	42,362	–	1.55%	–
QNST	New	QUINSTREET INC	$328,000	–	31,333	–	1.54%	–
CNOB	New	CONNECTONE BANCORP INC NEW	$325,000	–	20,131	–	1.53%	–
ZIXI	New	ZIX CORP	$324,000	–	47,024	–	1.52%	–
COHU	New	COHU INC	$322,000	–	18,587	–	1.52%	–
PLYM	New	PLYMOUTH INDL REIT INC	$321,000	–	25,059	–	1.51%	–
JOUT	New	JOHNSON OUTDOORS INCcl a	$314,000	–	3,448	–	1.48%	–
TFFP	New	TFF PHARMACEUTICALS INC	$313,000	–	54,264	–	1.47%	–
MSON	New	MISONIX INC	$312,000	–	22,973	–	1.47%	–
CSTL	New	CASTLE BIOSCIENCES INC	$311,000	–	8,249	–	1.46%	–
UFPT	New	UFP TECHNOLOGIES INC	$310,000	–	7,041	–	1.46%	–
GMRE	New	GLOBAL MED REIT INC	$307,000	–	27,106	–	1.44%	–
MEC	New	MAYVILLE ENGINEERING CO INC	$305,000	–	38,564	–	1.44%	–
CLAR	New	CLARUS CORP NEW	$304,000	–	26,245	–	1.43%	–
DENN	New	DENNYS CORP	$304,000	–	30,148	–	1.43%	–
ONTO	New	ONTO INNOVATION INC	$301,000	–	8,849	–	1.42%	–
KBAL	New	KIMBALL INTL INCcl b	$301,000	–	26,015	–	1.42%	–
ACEL	New	ACCEL ENTERTAINMENT INC	$295,000	–	30,621	–	1.39%	–
BEAT	New	BIOTELEMETRY INC	$294,000	–	6,515	–	1.38%	–
UPLD	New	UPLAND SOFTWARE INC	$292,000	–	8,394	–	1.38%	–
CASH	New	META FINL GROUP INC	$290,000	–	15,986	–	1.36%	–
GLDD	New	GREAT LAKES DREDGE & DOCK CO	$285,000	–	30,730	–	1.34%	–
VEC	New	VECTRUS INC	$284,000	–	5,786	–	1.34%	–
VCEL	New	VERICEL CORP	$279,000	–	20,207	–	1.31%	–
FBK	New	FB FINL CORP	$269,000	–	10,875	–	1.27%	–
UTI	New	UNIVERSAL TECHNICAL INST INC	$269,000	–	38,637	–	1.27%	–
ROAD	New	CONSTRUCTION PARTNERS INC	$267,000	–	15,027	–	1.26%	–
MLR	New	MILLER INDS INC TENN	$265,000	–	8,889	–	1.25%	–
ANIP	New	ANI PHARMACEUTICALS INC	$265,000	–	8,181	–	1.25%	–
BWB	New	BRIDGEWATER BANCSHARES INC	$255,000	–	24,909	–	1.20%	–
ITIC	New	INVESTORS TITLE CO	$254,000	–	2,093	–	1.20%	–
MYFW	New	FIRST WESTN FINL INC	$253,000	–	17,748	–	1.19%	–
OPTN	New	OPTINOSE INC	$250,000	–	33,550	–	1.18%	–
BOOM	New	DMC GLOBAL INC	$247,000	–	8,949	–	1.16%	–
DSPG	New	DSP GROUP INC	$247,000	–	15,547	–	1.16%	–
SSTI	New	SHOTSPOTTER INC	$242,000	–	9,603	–	1.14%	–
SKYW	New	SKYWEST INC	$241,000	–	7,379	–	1.14%	–
HCAT	New	HEALTH CATALYST INC	$235,000	–	8,049	–	1.11%	–
CCB	New	COASTAL FINL CORP WA	$233,000	–	16,074	–	1.10%	–
INN	New	SUMMIT HOTEL PPTYS INC	$232,000	–	39,042	–	1.09%	–
HRTX	New	HERON THERAPEUTICS INC	$232,000	–	15,805	–	1.09%	–
TBK	New	TRIUMPH BANCORP INC	$227,000	–	9,372	–	1.07%	–
ATEC	New	ALPHATEC HLDGS INC	$222,000	–	47,269	–	1.04%	–
MR	New	MONTAGE RES CORP	$219,000	–	55,329	–	1.03%	–
ATCX	New	ATLAS TECHNICAL CONSULTANTS	$218,000	–	33,299	–	1.03%	–
OCX	New	ONCOCYTE CORP	$190,000	–	99,282	–	0.90%	–
JRSH	New	JERASH HLDGS US INC	$189,000	–	38,832	–	0.89%	–
OPNT	New	OPIANT PHARMACEUTICALS INC	$179,000	–	19,780	–	0.84%	–
TALO	New	TALOS ENERGY INC	$176,000	–	19,139	–	0.83%	–

Q4 2019

			Value		Shares		↓ Weighting
DLTH	Exit	DULUTH HLDGS INC	$0	–	-19,234	–	-0.69%	–
NINE	Exit	NINE ENERGY SVC INC	$0	–	-26,806	–	-0.69%	–
SSTI	Exit	SHOTSPOTTER INC	$0	–	-9,107	–	-0.88%	–
CEMI	Exit	CHEMBIO DIAGNOSTICS INC	$0	–	-38,382	–	-0.99%	–
PVAC	Exit	PENN VA CORP NEW	$0	–	-8,369	–	-1.02%	–
ALOT	Exit	ASTRONOVA INC	$0	–	-16,663	–	-1.13%	–
IIN	Exit	INTRICON CORP	$0	–	-15,045	–	-1.23%	–
MCFT	Exit	MASTERCRAFT BOAT HLDGS INC	$0	–	-20,707	–	-1.30%	–
CELH	Exit	CELSIUS HOLDINGS INC	$0	–	-90,000	–	-1.32%	–
IOTS	Exit	ADESTO TECHNOLOGIES CORP	$0	–	-36,639	–	-1.32%	–
INSG	Exit	INSEEGO CORP	$0	–	-66,954	–	-1.35%	–
EXTR	Exit	EXTREME NETWORKS INC	$0	–	-44,385	–	-1.36%	–
EVBG	Exit	EVERBRIDGE INC	$0	–	-5,234	–	-1.36%	–
STRL	Exit	STERLING CONSTRUCTION CO INC	$0	–	-25,538	–	-1.41%	–
PATK	Exit	PATRICK INDS INC	$0	–	-7,867	–	-1.42%	–
CAMP	Exit	CALAMP CORP	$0	–	-29,506	–	-1.43%	–
INVE	Exit	IDENTIV INC	$0	–	-66,276	–	-1.47%	–
OCX	Exit	ONCOCYTE CORPORATION	$0	–	-168,274	–	-1.48%	–
MESA	Exit	MESA AIR GROUP INC	$0	–	-53,035	–	-1.51%	–
CARO	Exit	CAROLINA FINL CORP NEW	$0	–	-10,105	–	-1.51%	–
ALDX	Exit	ALDEYRA THERAPEUTICS INC	$0	–	-69,029	–	-1.53%	–
ATRO	Exit	ASTRONICS CORP	$0	–	-12,468	–	-1.54%	–
TALO	Exit	TALOS ENERGY INC	$0	–	-18,137	–	-1.55%	–
TISI	Exit	TEAM INC	$0	–	-20,641	–	-1.57%	–
JOUT	Exit	JOHNSON OUTDOORS INCcl a	$0	–	-6,393	–	-1.57%	–
ROAD	Exit	CONSTRUCTION PARTNERS INC	$0	–	-24,343	–	-1.59%	–
RLGT	Exit	RADIANT LOGISTICS INC	$0	–	-74,307	–	-1.62%	–
OMER	Exit	OMEROS CORP	$0	–	-23,600	–	-1.62%	–
LMNR	Exit	LIMONEIRA CO	$0	–	-21,071	–	-1.63%	–
CARA	Exit	CARA THERAPEUTICS INC	$0	–	-21,873	–	-1.68%	–
CNOB	Exit	CONNECTONE BANCORP INC NEW	$0	–	-18,057	–	-1.69%	–
PLYM	Exit	PLYMOUTH INDL REIT INC	$0	–	-22,100	–	-1.70%	–
RTEC	Exit	RUDOLPH TECHNOLOGIES INC	$0	–	-15,399	–	-1.71%	–
RLH	Exit	RED LION HOTELS CORP	$0	–	-62,739	–	-1.71%	–
MEC	Exit	MAYVILLE ENGINEERING CO INC	$0	–	-31,312	–	-1.74%	–
HRTX	Exit	HERON THERAPEUTICS INC	$0	–	-22,665	–	-1.76%	–
DZSI	Exit	DASAN ZHONE SOLUTIONS INC	$0	–	-45,943	–	-1.77%	–
IIIV	Exit	I3 VERTICALS INC	$0	–	-21,150	–	-1.79%	–
BEAT	Exit	BIOTELEMETRY INC	$0	–	-10,712	–	-1.83%	–
BLFS	Exit	BIOLIFE SOLUTIONS INC	$0	–	-26,283	–	-1.84%	–
VCRA	Exit	VOCERA COMMUNICATIONS INC	$0	–	-18,119	–	-1.88%	–
USCR	Exit	U S CONCRETE INC	$0	–	-8,216	–	-1.91%	–
BWB	Exit	BRIDGEWATER BANCSHARES INC	$0	–	-38,383	–	-1.93%	–
TH	Exit	TARGET HOSPITALITY CORP	$0	–	-67,303	–	-1.93%	–
SKY	Exit	SKYLINE CHAMPION CORPORATION	$0	–	-15,407	–	-1.95%	–
ITI	Exit	ITERIS INC	$0	–	-83,313	–	-2.02%	–
BOOM	Exit	DMC GLOBAL INC	$0	–	-10,985	–	-2.03%	–
CCB	Exit	COASTAL FINL CORP WA	$0	–	-32,790	–	-2.08%	–
MYFW	Exit	FIRST WESTN FINL INC	$0	–	-38,810	–	-2.14%	–
CLAR	Exit	CLARUS CORP NEW	$0	–	-43,688	–	-2.15%	–
QNST	Exit	QUINSTREET INC	$0	–	-41,264	–	-2.19%	–
TBK	Exit	TRIUMPH BANCORP INC	$0	–	-16,492	–	-2.21%	–
FBK	Exit	FB FINL CORP	$0	–	-14,035	–	-2.22%	–
TAST	Exit	CARROLS RESTAURANT GROUP INC	$0	–	-65,799	–	-2.29%	–
ANIP	Exit	ANI PHARMACEUTICALS INC	$0	–	-7,649	–	-2.34%	–
CASH	Exit	META FINL GROUP INC	$0	–	-17,426	–	-2.39%	–
SPAR	Exit	SPARTAN MTRS INC	$0	–	-43,033	–	-2.48%	–
FFWM	Exit	FIRST FNDTN INC	$0	–	-38,856	–	-2.50%	–
TSC	Exit	TRISTATE CAP HLDGS INC	$0	–	-34,495	–	-3.05%	–

Q3 2019

			Value		Shares		↓ Weighting
TSC	Sell	TRISTATE CAP HLDGS INC	$726,000	-6.9%	34,495	-6.0%	3.05%	+7.2%
FFWM	Sell	FIRST FNDTN INC	$594,000	-4.3%	38,856	-12.8%	2.50%	+10.2%
SPAR	Sell	SPARTAN MTRS INC	$590,000	-7.7%	43,033	-31.2%	2.48%	+6.4%
CASH	Sell	META FINL GROUP INC	$568,000	-20.0%	17,426	-32.7%	2.39%	-7.8%
ANIP	Sell	ANI PHARMACEUTICALS INC	$557,000	-17.2%	7,649	-6.0%	2.34%	-4.6%
TAST	Sell	CARROLS RESTAURANT GROUP INC	$545,000	-16.0%	65,799	-6.0%	2.29%	-3.2%
FBK	Sell	FB FINL CORP	$527,000	-3.3%	14,035	-5.9%	2.22%	+11.5%
TBK	Sell	TRIUMPH BANCORP INC	$526,000	-22.6%	16,492	-30.0%	2.21%	-10.9%
QNST	Sell	QUINSTREET INC	$520,000	-23.0%	41,264	-6.0%	2.19%	-11.2%
CLAR	Sell	CLARUS CORP NEW	$512,000	-23.8%	43,688	-6.0%	2.15%	-12.2%
MYFW	Sell	FIRST WESTN FINL INC	$509,000	-5.6%	38,810	-4.8%	2.14%	+8.8%
CCB	Sell	COASTAL FINL CORP WA	$495,000	-5.5%	32,790	-4.8%	2.08%	+8.9%
BOOM	Sell	DMC GLOBAL INC	$483,000	-31.5%	10,985	-6.0%	2.03%	-21.1%
ITI	Sell	ITERIS INC	$479,000	+5.3%	83,313	-4.5%	2.02%	+21.4%
SKY	Sell	SKYLINE CHAMPION CORPORATION	$464,000	-27.7%	15,407	-35.8%	1.95%	-16.7%
BWB	Sell	BRIDGEWATER BANCSHARES INC	$458,000	-36.0%	38,383	-37.6%	1.93%	-26.3%
TH	Sell	TARGET HOSPITALITY CORP	$458,000	-32.1%	67,303	-6.0%	1.93%	-21.8%
USCR	Sell	U S CONCRETE INC	$454,000	+4.6%	8,216	-6.0%	1.91%	+20.5%
VCRA	Sell	VOCERA COMMUNICATIONS INC	$447,000	-25.3%	18,119	-6.1%	1.88%	-13.8%
BLFS	New	BIOLIFE SOLUTIONS INC	$437,000	–	26,283	–	1.84%	–
BEAT	Sell	BIOTELEMETRY INC	$436,000	-19.4%	10,712	-5.9%	1.83%	-7.1%
IIIV	Sell	I3 VERTICALS INC	$426,000	-35.6%	21,150	-6.0%	1.79%	-25.7%
DZSI	Sell	DASAN ZHONE SOLUTIONS INC	$421,000	-31.8%	45,943	-6.1%	1.77%	-21.4%
HRTX	Sell	HERON THERAPEUTICS INC	$419,000	-2.6%	22,665	-6.0%	1.76%	+12.3%
MEC	Sell	MAYVILLE ENGINEERING CO INC	$413,000	-43.2%	31,312	-34.3%	1.74%	-34.5%
RLH	Buy	RED LION HOTELS CORP	$407,000	-0.7%	62,739	+8.5%	1.71%	+14.4%
RTEC	Sell	RUDOLPH TECHNOLOGIES INC	$406,000	-7.3%	15,399	-6.0%	1.71%	+6.9%
PLYM	Sell	PLYMOUTH INDL REIT INC	$405,000	-7.3%	22,100	-4.5%	1.70%	+6.8%
CNOB	New	CONNECTONE BANCORP INC NEW	$401,000	–	18,057	–	1.69%	–
CARA	Sell	CARA THERAPEUTICS INC	$400,000	-44.4%	21,873	-34.6%	1.68%	-35.9%
LMNR	Sell	LIMONEIRA CO	$387,000	-38.1%	21,071	-34.6%	1.63%	-28.6%
OMER	Sell	OMEROS CORP	$385,000	+2.9%	23,600	-5.9%	1.62%	+18.6%
RLGT	Sell	RADIANT LOGISTICS INC	$384,000	-15.0%	74,307	-4.5%	1.62%	-2.1%
ROAD	Sell	CONSTRUCTION PARTNERS INC	$379,000	-42.6%	24,343	-46.5%	1.59%	-33.8%
JOUT	Sell	JOHNSON OUTDOORS INCcl a	$374,000	-26.8%	6,393	-5.9%	1.57%	-15.7%
TISI	Sell	TEAM INC	$373,000	+13.4%	20,641	-6.0%	1.57%	+30.6%
TALO	Sell	TALOS ENERGY INC	$369,000	-25.3%	18,137	-5.9%	1.55%	-13.9%
ATRO	Sell	ASTRONICS CORP	$366,000	-30.8%	12,468	-6.0%	1.54%	-20.3%
ALDX	Buy	ALDEYRA THERAPEUTICS INC	$364,000	-2.4%	69,029	+10.0%	1.53%	+12.5%
CARO	Sell	CAROLINA FINL CORP NEW	$359,000	-4.8%	10,105	-6.0%	1.51%	+9.7%
MESA	Sell	MESA AIR GROUP INC	$358,000	-32.6%	53,035	-4.9%	1.51%	-22.3%
OCX	New	ONCOCYTE CORPORATION	$353,000	–	168,274	–	1.48%	–
INVE	New	IDENTIV INC	$349,000	–	66,276	–	1.47%	–
CAMP	New	CALAMP CORP	$340,000	–	29,506	–	1.43%	–
PATK	Sell	PATRICK INDS INC	$337,000	-36.9%	7,867	-31.1%	1.42%	-27.3%
STRL	New	STERLING CONSTRUCTION CO INC	$336,000	–	25,538	–	1.41%	–
EXTR	Sell	EXTREME NETWORKS INC	$323,000	-27.9%	44,385	-36.1%	1.36%	-16.9%
EVBG	Sell	EVERBRIDGE INC	$323,000	-38.5%	5,234	-6.0%	1.36%	-29.1%
INSG	New	INSEEGO CORP	$321,000	–	66,954	–	1.35%	–
IOTS	New	ADESTO TECHNOLOGIES CORP	$314,000	–	36,639	–	1.32%	–
CELH	New	CELSIUS HOLDINGS INC	$313,000	–	90,000	–	1.32%	–
MCFT	Sell	MASTERCRAFT BOAT HLDGS INC	$309,000	-30.1%	20,707	-6.1%	1.30%	-19.4%
IIN	New	INTRICON CORP	$292,000	–	15,045	–	1.23%	–
ALOT	Sell	ASTRONOVA INC	$269,000	-40.2%	16,663	-4.5%	1.13%	-31.1%
PVAC	Sell	PENN VA CORP NEW	$243,000	-3.6%	8,369	-5.9%	1.02%	+11.1%
CEMI	Sell	CHEMBIO DIAGNOSTICS INC	$235,000	+7.3%	38,382	-1.0%	0.99%	+23.7%
SSTI	Sell	SHOTSPOTTER INC	$210,000	-47.9%	9,107	-6.1%	0.88%	-40.0%
NINE	Sell	NINE ENERGY SVC INC	$165,000	-63.6%	26,806	-5.9%	0.69%	-58.0%
DLTH	Sell	DULUTH HLDGS INC	$163,000	-40.3%	19,234	-2.9%	0.69%	-31.1%
GNMK	Exit	GENMARK DIAGNOSTICS INC	$0	–	-54,427	–	-1.27%	–
HEAR	Exit	TURTLE BEACH CORP	$0	–	-38,898	–	-1.48%	–
MOTS	Exit	MOTUS GI HLDGS INC	$0	–	-151,866	–	-1.75%	–

Q2 2019

			Value		Shares		↓ Weighting
TSC	New	TRISTATE CAP HLDGS INC	$780,000	–	36,689	–	2.85%	–
MEC	New	MAYVILLE ENGINEERING CO INC	$727,000	–	47,627	–	2.65%	–
CARA	New	CARA THERAPEUTICS INC	$719,000	–	33,432	–	2.62%	–
BWB	New	BRIDGEWATER BANCSHARES INC	$716,000	–	61,466	–	2.61%	–
CASH	New	META FINL GROUP INC	$710,000	–	25,899	–	2.59%	–
BOOM	New	DMC GLOBAL INC	$705,000	–	11,692	–	2.57%	–
TBK	New	TRIUMPH BANCORP INC	$680,000	–	23,572	–	2.48%	–
TH	New	TARGET HOSPITALITY CORP	$675,000	–	71,603	–	2.46%	–
QNST	New	QUINSTREET INC	$675,000	–	43,901	–	2.46%	–
ANIP	New	ANI PHARMACEUTICALS INC	$673,000	–	8,139	–	2.46%	–
CLAR	New	CLARUS CORP NEW	$672,000	–	46,465	–	2.45%	–
IIIV	New	I3 VERTICALS INC	$661,000	–	22,493	–	2.41%	–
ROAD	New	CONSTRUCTION PARTNERS INC	$660,000	–	45,460	–	2.41%	–
TAST	New	CARROLS RESTAURANT GROUP INC	$649,000	–	69,978	–	2.37%	–
SKY	New	SKYLINE CHAMPION CORPORATION	$642,000	–	24,009	–	2.34%	–
SPAR	New	SPARTAN MTRS INC	$639,000	–	62,517	–	2.33%	–
LMNR	New	LIMONEIRA CO	$625,000	–	32,207	–	2.28%	–
FFWM	New	FIRST FNDTN INC	$621,000	–	44,561	–	2.27%	–
DZSI	New	DASAN ZHONE SOLUTIONS INC	$617,000	–	48,906	–	2.25%	–
VCRA	New	VOCERA COMMUNICATIONS INC	$598,000	–	19,293	–	2.18%	–
FBK	New	FB FINL CORP	$545,000	–	14,922	–	1.99%	–
BEAT	New	BIOTELEMETRY INC	$541,000	–	11,389	–	1.97%	–
MYFW	New	FIRST WESTN FINL INC	$539,000	–	40,762	–	1.97%	–
PATK	New	PATRICK INDS INC	$534,000	–	11,413	–	1.95%	–
MESA	New	MESA AIR GROUP INC	$531,000	–	55,743	–	1.94%	–
ATRO	New	ASTRONICS CORP	$529,000	–	13,266	–	1.93%	–
EVBG	New	EVERBRIDGE INC	$525,000	–	5,569	–	1.92%	–
CCB	New	COASTAL FINL CORP WA	$524,000	–	34,437	–	1.91%	–
JOUT	New	JOHNSON OUTDOORS INCcl a	$511,000	–	6,797	–	1.86%	–
TALO	New	TALOS ENERGY INC	$494,000	–	19,281	–	1.80%	–
MOTS	New	MOTUS GI HLDGS INC	$480,000	–	151,866	–	1.75%	–
ITI	New	ITERIS INC	$455,000	–	87,257	–	1.66%	–
NINE	New	NINE ENERGY SVC INC	$453,000	–	28,491	–	1.65%	–
RLGT	New	RADIANT LOGISTICS INC	$452,000	–	77,811	–	1.65%	–
ALOT	New	ASTRONOVA INC	$450,000	–	17,456	–	1.64%	–
EXTR	New	EXTREME NETWORKS INC	$448,000	–	69,408	–	1.64%	–
MCFT	New	MASTERCRAFT BOAT HLDGS INC	$442,000	–	22,047	–	1.61%	–
RTEC	New	RUDOLPH TECHNOLOGIES INC	$438,000	–	16,374	–	1.60%	–
PLYM	New	PLYMOUTH INDL REIT INC	$437,000	–	23,141	–	1.60%	–
USCR	New	U S CONCRETE INC	$434,000	–	8,739	–	1.58%	–
HRTX	New	HERON THERAPEUTICS INC	$430,000	–	24,112	–	1.57%	–
RLH	New	RED LION HOTELS CORP	$410,000	–	57,820	–	1.50%	–
HEAR	New	TURTLE BEACH CORP	$407,000	–	38,898	–	1.48%	–
SSTI	New	SHOTSPOTTER INC	$403,000	–	9,694	–	1.47%	–
CARO	New	CAROLINA FINL CORP NEW	$377,000	–	10,749	–	1.38%	–
OMER	New	OMEROS CORP	$374,000	–	25,092	–	1.36%	–
ALDX	New	ALDEYRA THERAPEUTICS INC	$373,000	–	62,736	–	1.36%	–
GNMK	New	GENMARK DIAGNOSTICS INC	$349,000	–	54,427	–	1.27%	–
TISI	New	TEAM INC	$329,000	–	21,948	–	1.20%	–
DLTH	New	DULUTH HLDGS INC	$273,000	–	19,804	–	1.00%	–
PVAC	New	PENN VA CORP NEW	$252,000	–	8,897	–	0.92%	–
CEMI	New	CHEMBIO DIAGNOSTICS INC	$219,000	–	38,778	–	0.80%	–

Q4 2018

			Value		Shares		↓ Weighting
WLH	Exit	LYON WILLIAM HOMEScl a new	$0	–	-11,264	–	-0.92%	–
EXTR	Exit	EXTREME NETWORKS INC	$0	–	-34,175	–	-0.96%	–
LMB	Exit	LIMBACH HLDGS INC	$0	–	-19,637	–	-1.14%	–
AQ	Exit	AQUANTIA CORP	$0	–	-17,511	–	-1.16%	–
UCFC	Exit	UNITED CMNTY FINL CORP OHIO	$0	–	-24,549	–	-1.22%	–
GNMK	Exit	GENMARK DIAGNOSTICS INC	$0	–	-33,001	–	-1.25%	–
MSBI	Exit	MIDLAND STS BANCORP INC ILL	$0	–	-7,854	–	-1.30%	–
CDOR	Exit	CONDOR HOSPITALITY TR INC	$0	–	-23,887	–	-1.32%	–
ABEO	Exit	ABEONA THERAPEUTICS INC	$0	–	-20,177	–	-1.33%	–
NLS	Exit	NAUTILUS INC	$0	–	-18,619	–	-1.34%	–
BLDR	Exit	BUILDERS FIRSTSOURCE INC	$0	–	-17,793	–	-1.34%	–
REN	Exit	RESOLUTE ENERGY CORP	$0	–	-7,036	–	-1.37%	–
MGNX	Exit	MACROGENICS INC	$0	–	-12,439	–	-1.38%	–
LLNW	Exit	LIMELIGHT NETWORKS INC	$0	–	-53,429	–	-1.38%	–
NINE	Exit	NINE ENERGY SVC INC	$0	–	-9,359	–	-1.47%	–
TISI	Exit	TEAM INC	$0	–	-13,344	–	-1.55%	–
SENS	Exit	SENSEONICS HLDGS INC	$0	–	-63,151	–	-1.55%	–
CASH	Exit	META FINL GROUP INC	$0	–	-3,671	–	-1.56%	–
ATRO	Exit	ASTRONICS CORP	$0	–	-7,195	–	-1.61%	–
SVRA	Exit	SAVARA INC	$0	–	-28,145	–	-1.62%	–
PLYM	Exit	PLYMOUTH INDL REIT INC	$0	–	-20,321	–	-1.62%	–
CVGW	Exit	CALAVO GROWERS INC	$0	–	-3,262	–	-1.62%	–
DENN	Exit	DENNYS CORP	$0	–	-21,709	–	-1.65%	–
BIOS	Exit	BIOSCRIP INC	$0	–	-106,100	–	-1.70%	–
INBK	Exit	FIRST INTERNET BANCORP	$0	–	-11,072	–	-1.74%	–
HRTX	Exit	HERON THERAPEUTICS INC	$0	–	-10,696	–	-1.75%	–
FBK	Exit	FB FINL CORP	$0	–	-9,073	–	-1.83%	–
CCB	Exit	COASTAL FINL CORP WA	$0	–	-20,925	–	-1.84%	–
OMER	Exit	OMEROS CORP	$0	–	-15,226	–	-1.92%	–
DLTH	Exit	DULUTH HLDGS INC	$0	–	-12,020	–	-1.95%	–
ALOT	Exit	ASTRONOVA INC	$0	–	-17,487	–	-1.95%	–
USCR	Exit	U S CONCRETE INC	$0	–	-8,295	–	-1.96%	–
ASUR	Exit	ASURE SOFTWARE INC	$0	–	-30,908	–	-1.98%	–
TACO	Exit	DEL TACO RESTAURANTS INC	$0	–	-32,814	–	-2.00%	–
BWB	Exit	BRIDGEWATER BANCSHARES INC	$0	–	-29,870	–	-2.00%	–
TUSK	Exit	MAMMOTH ENERGY SVCS INC	$0	–	-13,519	–	-2.03%	–
MYFW	Exit	FIRST WESTN FINL INC	$0	–	-22,453	–	-2.03%	–
ANIP	Exit	ANI PHARMACEUTICALS INC	$0	–	-7,027	–	-2.05%	–
ROAD	Exit	CONSTRUCTION PARTNERS INC	$0	–	-32,888	–	-2.05%	–
SSTI	Exit	SHOTSPOTTER INC	$0	–	-6,646	–	-2.10%	–
PATK	Exit	PATRICK INDS INC	$0	–	-6,954	–	-2.12%	–
FFWM	Exit	FIRST FNDTN INC	$0	–	-27,070	–	-2.18%	–
EVBG	Exit	EVERBRIDGE INC	$0	–	-7,401	–	-2.20%	–
RLH	Exit	RED LION HOTELS CORP	$0	–	-35,151	–	-2.26%	–
LLEXQ	Exit	LILIS ENERGY INC	$0	–	-89,919	–	-2.27%	–
SPAR	Exit	SPARTAN MTRS INC	$0	–	-30,116	–	-2.29%	–
CLAR	Exit	CLARUS CORP NEW	$0	–	-43,999	–	-2.50%	–
CARA	Exit	CARA THERAPEUTICS INC	$0	–	-20,319	–	-2.51%	–
BEAT	Exit	BIOTELEMETRY INC	$0	–	-7,652	–	-2.54%	–
VCRA	Exit	VOCERA COMMUNICATIONS INC	$0	–	-14,080	–	-2.66%	–
ALDX	Exit	ALDEYRA THERAPEUTICS INC	$0	–	-38,097	–	-2.71%	–
TBK	Exit	TRIUMPH BANCORP INC	$0	–	-14,298	–	-2.82%	–
TSC	Exit	TRISTATE CAP HLDGS INC	$0	–	-22,263	–	-3.16%	–
IIIV	Exit	I3 VERTICALS INC	$0	–	-27,346	–	-3.24%	–

Q3 2018

			Value		Shares		↓ Weighting
IIIV	Buy	I3 VERTICALS INC	$628,000	+168.4%	27,346	+77.7%	3.24%	+211.2%
TSC	Sell	TRISTATE CAP HLDGS INC	$614,000	-19.5%	22,263	-23.9%	3.16%	-6.6%
TBK	Sell	TRIUMPH BANCORP INC	$546,000	-18.4%	14,298	-12.9%	2.82%	-5.3%
ALDX	Sell	ALDEYRA THERAPEUTICS INC	$526,000	+60.9%	38,097	-7.4%	2.71%	+86.6%
VCRA	Sell	VOCERA COMMUNICATIONS INC	$515,000	+13.4%	14,080	-7.4%	2.66%	+31.6%
BEAT	Sell	BIOTELEMETRY INC	$493,000	-4.8%	7,652	-33.6%	2.54%	+10.4%
CARA	Sell	CARA THERAPEUTICS INC	$487,000	+16.0%	20,319	-7.3%	2.51%	+34.5%
CLAR	Sell	CLARUS CORP NEW	$486,000	+24.0%	43,999	-7.4%	2.50%	+43.9%
SPAR	Sell	SPARTAN MTRS INC	$444,000	-9.4%	30,116	-7.2%	2.29%	+5.1%
LLEXQ	Buy	LILIS ENERGY INC	$441,000	-0.2%	89,919	+5.9%	2.27%	+15.7%
RLH	Sell	RED LION HOTELS CORP	$439,000	-0.7%	35,151	-7.2%	2.26%	+15.2%
EVBG	Sell	EVERBRIDGE INC	$427,000	-30.9%	7,401	-43.2%	2.20%	-19.8%
FFWM	Buy	FIRST FNDTN INC	$423,000	+0.2%	27,070	+18.9%	2.18%	+16.3%
PATK	Sell	PATRICK INDS INC	$412,000	-3.1%	6,954	-7.0%	2.12%	+12.5%
SSTI	Sell	SHOTSPOTTER INC	$407,000	+5.2%	6,646	-34.9%	2.10%	+22.0%
ROAD	Buy	CONSTRUCTION PARTNERS INC	$398,000	+10.9%	32,888	+20.6%	2.05%	+28.7%
ANIP	Sell	ANI PHARMACEUTICALS INC	$397,000	-35.8%	7,027	-24.1%	2.05%	-25.5%
MYFW	New	FIRST WESTN FINL INC	$393,000	–	22,453	–	2.03%	–
TUSK	Sell	MAMMOTH ENERGY SVCS INC	$393,000	-20.6%	13,519	-7.3%	2.03%	-7.9%
BWB	New	BRIDGEWATER BANCSHARES INC	$389,000	–	29,870	–	2.00%	–
TACO	Sell	DEL TACO RESTAURANTS INC	$388,000	-36.4%	32,814	-23.7%	2.00%	-26.2%
ASUR	Buy	ASURE SOFTWARE INC	$384,000	-3.5%	30,908	+23.9%	1.98%	+11.9%
USCR	Sell	U S CONCRETE INC	$380,000	-19.1%	8,295	-7.4%	1.96%	-6.2%
DLTH	Sell	DULUTH HLDGS INC	$378,000	-33.2%	12,020	-49.5%	1.95%	-22.5%
ALOT	Sell	ASTRONOVA INC	$378,000	+6.2%	17,487	-7.4%	1.95%	+23.2%
OMER	Sell	OMEROS CORP	$372,000	-11.6%	15,226	-34.4%	1.92%	+2.6%
CCB	New	COASTAL FINL CORP WA	$356,000	–	20,925	–	1.84%	–
FBK	Sell	FB FINL CORP	$355,000	-11.0%	9,073	-7.4%	1.83%	+3.2%
HRTX	Sell	HERON THERAPEUTICS INC	$339,000	-58.9%	10,696	-49.6%	1.75%	-52.3%
INBK	Sell	FIRST INTERNET BANCORP	$337,000	-17.4%	11,072	-7.4%	1.74%	-4.2%
BIOS	Sell	BIOSCRIP INC	$329,000	-2.1%	106,100	-7.4%	1.70%	+13.6%
DENN	Buy	DENNYS CORP	$320,000	+30.6%	21,709	+41.3%	1.65%	+51.7%
PLYM	Buy	PLYMOUTH INDL REIT INC	$315,000	+22.6%	20,321	+26.7%	1.62%	+42.2%
CVGW	Sell	CALAVO GROWERS INC	$315,000	-44.7%	3,262	-45.0%	1.62%	-35.9%
SVRA	Sell	SAVARA INC	$314,000	-8.7%	28,145	-7.4%	1.62%	+6.0%
ATRO	Sell	ASTRONICS CORP	$313,000	-11.1%	7,195	-26.5%	1.61%	+3.1%
CASH	Sell	META FINL GROUP INC	$303,000	-21.3%	3,671	-7.2%	1.56%	-8.7%
SENS	New	SENSEONICS HLDGS INC	$301,000	–	63,151	–	1.55%	–
TISI	Sell	TEAM INC	$300,000	-41.3%	13,344	-39.7%	1.55%	-31.9%
NINE	New	NINE ENERGY SVC INC	$286,000	–	9,359	–	1.47%	–
LLNW	Buy	LIMELIGHT NETWORKS INC	$268,000	+34.0%	53,429	+19.6%	1.38%	+55.6%
MGNX	Sell	MACROGENICS INC	$267,000	-3.6%	12,439	-7.2%	1.38%	+11.8%
REN	Sell	RESOLUTE ENERGY CORP	$266,000	-20.8%	7,036	-34.7%	1.37%	-8.2%
BLDR	Sell	BUILDERS FIRSTSOURCE INC	$261,000	-25.4%	17,793	-7.1%	1.34%	-13.5%
NLS	Sell	NAUTILUS INC	$260,000	-17.5%	18,619	-7.2%	1.34%	-4.2%
ABEO	Sell	ABEONA THERAPEUTICS INC	$258,000	-25.9%	20,177	-7.4%	1.33%	-14.0%
CDOR	Sell	CONDOR HOSPITALITY TR INC	$255,000	-4.5%	23,887	-7.1%	1.32%	+10.9%
MSBI	Sell	MIDLAND STS BANCORP INC ILL	$252,000	-42.1%	7,854	-38.1%	1.30%	-32.8%
GNMK	Sell	GENMARK DIAGNOSTICS INC	$243,000	+7.0%	33,001	-7.3%	1.25%	+24.3%
UCFC	Sell	UNITED CMNTY FINL CORP OHIO	$237,000	-39.1%	24,549	-30.6%	1.22%	-29.3%
AQ	New	AQUANTIA CORP	$224,000	–	17,511	–	1.16%	–
LMB	Sell	LIMBACH HLDGS INC	$221,000	-12.0%	19,637	-7.4%	1.14%	+2.2%
EXTR	Sell	EXTREME NETWORKS INC	$187,000	-60.6%	34,175	-42.7%	0.96%	-54.3%
WLH	Sell	LYON WILLIAM HOMEScl a new	$179,000	-36.5%	11,264	-7.3%	0.92%	-26.3%
RTEC	Exit	RUDOLPH TECHNOLOGIES INC	$0	–	-7,264	–	-0.96%	–
IOTS	Exit	ADESTO TECHNOLOGIES CORP	$0	–	-26,367	–	-0.98%	–
BRG	Exit	BLUEROCK RESIDENTIAL GRW REI	$0	–	-25,862	–	-1.03%	–
PCYO	Exit	PURECYCLE CORP	$0	–	-24,904	–	-1.06%	–
ESTE	Exit	EARTHSTONE ENERGY INCcl a	$0	–	-27,880	–	-1.10%	–
SMBK	Exit	SMARTFINANCIAL INC	$0	–	-11,614	–	-1.33%	–
MODN	Exit	MODEL N INC	$0	–	-20,016	–	-1.65%	–
CARO	Exit	CAROLINA FINL CORP NEW	$0	–	-14,151	–	-2.70%	–

Q2 2018

			Value		Shares		↓ Weighting
HRTX	New	HERON THERAPEUTICS INC	$825,000	–	21,233	–	3.66%	–
TSC	New	TRISTATE CAP HLDGS INC	$763,000	–	29,252	–	3.39%	–
TBK	New	TRIUMPH BANCORP INC	$669,000	–	16,424	–	2.97%	–
ANIP	New	ANI PHARMACEUTICALS INC	$618,000	–	9,255	–	2.74%	–
EVBG	New	EVERBRIDGE INC	$618,000	–	13,022	–	2.74%	–
TACO	New	DEL TACO RESTAURANTS INC	$610,000	–	43,007	–	2.71%	–
CARO	New	CAROLINA FINL CORP NEW	$607,000	–	14,151	–	2.70%	–
CVGW	New	CALAVO GROWERS INC	$570,000	–	5,933	–	2.53%	–
DLTH	New	DULUTH HLDGS INC	$566,000	–	23,809	–	2.51%	–
BEAT	New	BIOTELEMETRY INC	$518,000	–	11,519	–	2.30%	–
TISI	New	TEAM INC	$511,000	–	22,135	–	2.27%	–
TUSK	New	MAMMOTH ENERGY SVCS INC	$495,000	–	14,586	–	2.20%	–
SPAR	New	SPARTAN MTRS INC	$490,000	–	32,469	–	2.18%	–
EXTR	New	EXTREME NETWORKS INC	$475,000	–	59,653	–	2.11%	–
USCR	New	U S CONCRETE INC	$470,000	–	8,954	–	2.09%	–
VCRA	New	VOCERA COMMUNICATIONS INC	$454,000	–	15,199	–	2.02%	–
LLEXQ	New	LILIS ENERGY INC	$442,000	–	84,944	–	1.96%	–
RLH	New	RED LION HOTELS CORP	$442,000	–	37,897	–	1.96%	–
MSBI	New	MIDLAND STS BANCORP INC ILL	$435,000	–	12,685	–	1.93%	–
PATK	New	PATRICK INDS INC	$425,000	–	7,476	–	1.89%	–
FFWM	New	FIRST FNDTN INC	$422,000	–	22,760	–	1.88%	–
OMER	New	OMEROS CORP	$421,000	–	23,222	–	1.87%	–
CARA	New	CARA THERAPEUTICS INC	$420,000	–	21,916	–	1.87%	–
INBK	New	FIRST INTERNET BANCORP	$408,000	–	11,952	–	1.81%	–
FBK	New	FB FINL CORP	$399,000	–	9,794	–	1.77%	–
ASUR	New	ASURE SOFTWARE INC	$398,000	–	24,943	–	1.77%	–
CLAR	New	CLARUS CORP NEW	$392,000	–	47,499	–	1.74%	–
UCFC	New	UNITED CMNTY FINL CORP OHIO	$389,000	–	35,382	–	1.73%	–
SSTI	New	SHOTSPOTTER INC	$387,000	–	10,203	–	1.72%	–
CASH	New	META FINL GROUP INC	$385,000	–	3,954	–	1.71%	–
MODN	New	MODEL N INC	$372,000	–	20,016	–	1.65%	–
ROAD	New	CONSTRUCTION PARTNERS INC	$359,000	–	27,265	–	1.60%	–
ALOT	New	ASTRONOVA INC	$356,000	–	18,877	–	1.58%	–
ATRO	New	ASTRONICS CORP	$352,000	–	9,783	–	1.56%	–
BLDR	New	BUILDERS FIRSTSOURCE INC	$350,000	–	19,159	–	1.56%	–
ABEO	New	ABEONA THERAPEUTICS INC	$348,000	–	21,781	–	1.55%	–
SVRA	New	SAVARA INC	$344,000	–	30,383	–	1.53%	–
REN	New	RESOLUTE ENERGY CORP	$336,000	–	10,772	–	1.49%	–
BIOS	New	BIOSCRIP INC	$336,000	–	114,541	–	1.49%	–
ALDX	New	ALDEYRA THERAPEUTICS INC	$327,000	–	41,128	–	1.45%	–
NLS	New	NAUTILUS INC	$315,000	–	20,060	–	1.40%	–
SMBK	New	SMARTFINANCIAL INC	$299,000	–	11,614	–	1.33%	–
WLH	New	LYON WILLIAM HOMEScl a new	$282,000	–	12,152	–	1.25%	–
MGNX	New	MACROGENICS INC	$277,000	–	13,402	–	1.23%	–
CDOR	New	CONDOR HOSPITALITY TR INC	$267,000	–	25,721	–	1.19%	–
PLYM	New	PLYMOUTH INDL REIT INC	$257,000	–	16,033	–	1.14%	–
LMB	New	LIMBACH HLDGS INC	$251,000	–	21,199	–	1.12%	–
ESTE	New	EARTHSTONE ENERGY INCcl a	$247,000	–	27,880	–	1.10%	–
DENN	New	DENNYS CORP	$245,000	–	15,368	–	1.09%	–
PCYO	New	PURECYCLE CORP	$238,000	–	24,904	–	1.06%	–
IIIV	New	I3 VERTICALS INC	$234,000	–	15,390	–	1.04%	–
BRG	New	BLUEROCK RESIDENTIAL GRW REI	$231,000	–	25,862	–	1.03%	–
GNMK	New	GENMARK DIAGNOSTICS INC	$227,000	–	35,581	–	1.01%	–
IOTS	New	ADESTO TECHNOLOGIES CORP	$221,000	–	26,367	–	0.98%	–
RTEC	New	RUDOLPH TECHNOLOGIES INC	$215,000	–	7,264	–	0.96%	–
LLNW	New	LIMELIGHT NETWORKS INC	$200,000	–	44,670	–	0.89%	–

Q4 2017

			Value		Shares		↓ Weighting
HDSN	Exit	HUDSON TECHNOLOGIES INC	$0	–	-14,815	–	-0.55%	–
MDXG	Exit	MIMEDX GROUP INC	$0	–	-17,718	–	-0.99%	–
WLH	Exit	LYON WILLIAM HOMEScl a new	$0	–	-9,584	–	-1.04%	–
SPWH	Exit	SPORTSMANS WHSE HLDGS INC	$0	–	-51,519	–	-1.09%	–
IOTS	Exit	ADESTO TECHNOLOGIES CORP	$0	–	-30,986	–	-1.14%	–
AHH	Exit	ARMADA HOFFLER PPTYS INC	$0	–	-19,256	–	-1.25%	–
FBK	Exit	FB FINL CORP	$0	–	-7,322	–	-1.30%	–
GNMK	Exit	GENMARK DIAGNOSTICS INC	$0	–	-28,800	–	-1.30%	–
KERX	Exit	KERYX BIOPHARMACEUTICALS INC	$0	–	-40,014	–	-1.34%	–
TLGT	Exit	TELIGENT INC NEW	$0	–	-42,483	–	-1.34%	–
MGNX	Exit	MACROGENICS INC	$0	–	-15,747	–	-1.37%	–
MRAM	Exit	EVERSPIN TECHNOLOGIES INC	$0	–	-17,074	–	-1.38%	–
USCR	Exit	U S CONCRETE INC	$0	–	-3,845	–	-1.38%	–
OMER	Exit	OMEROS CORP	$0	–	-13,868	–	-1.41%	–
CDOR	Exit	CONDOR HOSPITALITY TR INC	$0	–	-30,224	–	-1.49%	–
LLEXQ	Exit	LILIS ENERGY INC	$0	–	-72,075	–	-1.52%	–
PI	Exit	IMPINJ INC	$0	–	-7,851	–	-1.54%	–
BIOS	Exit	BIOSCRIP INC	$0	–	-119,169	–	-1.54%	–
ASPN	Exit	ASPEN AEROGELS INC	$0	–	-76,067	–	-1.56%	–
SONA	Exit	SOUTHERN NATL BANCORP OF VA	$0	–	-20,166	–	-1.62%	–
MSBI	Exit	MIDLAND STS BANCORP INC ILL	$0	–	-10,901	–	-1.63%	–
NEO	Exit	NEOGENOMICS INC	$0	–	-31,268	–	-1.64%	–
ADUS	Exit	ADDUS HOMECARE CORP	$0	–	-9,890	–	-1.64%	–
PCYO	Exit	PURECYCLE CORP	$0	–	-46,790	–	-1.65%	–
ATRO	Exit	ASTRONICS CORP	$0	–	-11,840	–	-1.66%	–
EMKR	Exit	EMCORE CORP	$0	–	-43,345	–	-1.67%	–
GBNK	Exit	GUARANTY BANCORP DEL	$0	–	-12,759	–	-1.67%	–
CASH	Exit	META FINL GROUP INC	$0	–	-4,644	–	-1.72%	–
CIO	Exit	CITY OFFICE REIT INC	$0	–	-26,728	–	-1.73%	–
ISTR	Exit	INVESTAR HLDG CORP	$0	–	-15,263	–	-1.73%	–
RTEC	Exit	RUDOLPH TECHNOLOGIES INC	$0	–	-14,061	–	-1.74%	–
EXTR	Exit	EXTREME NETWORKS INC	$0	–	-31,210	–	-1.75%	–
REN	Exit	RESOLUTE ENERGY CORP	$0	–	-12,657	–	-1.77%	–
EVBG	Exit	EVERBRIDGE INC	$0	–	-14,598	–	-1.82%	–
NLS	Exit	NAUTILUS INC	$0	–	-23,575	–	-1.88%	–
UCFC	Exit	UNITED CMNTY FINL CORP OHIO	$0	–	-41,568	–	-1.88%	–
BLDR	Exit	BUILDERS FIRSTSOURCE INC	$0	–	-22,515	–	-1.91%	–
BRG	Exit	BLUEROCK RESIDENTIAL GRW REI	$0	–	-37,094	–	-1.93%	–
DLTH	Exit	DULUTH HLDGS INC	$0	–	-20,265	–	-1.94%	–
CHUY	Exit	CHUYS HLDGS INC	$0	–	-19,764	–	-1.96%	–
HZO	Exit	MARINEMAX INC	$0	–	-27,781	–	-2.17%	–
FFWM	Exit	FIRST FNDTN INC	$0	–	-26,742	–	-2.25%	–
QCRH	Exit	QCR HOLDINGS INC	$0	–	-10,684	–	-2.29%	–
TUSK	Exit	MAMMOTH ENERGY SVCS INC	$0	–	-28,964	–	-2.30%	–
PATK	Exit	PATRICK INDS INC	$0	–	-5,852	–	-2.32%	–
LMB	Exit	LIMBACH HLDGS INC	$0	–	-36,965	–	-2.35%	–
IBTX	Exit	INDEPENDENT BK GROUP INC	$0	–	-8,767	–	-2.49%	–
HRTX	Exit	HERON THERAPEUTICS INC	$0	–	-33,274	–	-2.53%	–
CVGW	Exit	CALAVO GROWERS INC	$0	–	-7,378	–	-2.54%	–
TSC	Exit	TRISTATE CAP HLDGS INC	$0	–	-24,779	–	-2.67%	–
ANIP	Exit	ANI PHARMACEUTICALS INC	$0	–	-11,096	–	-2.74%	–
CARO	Exit	CAROLINA FINL CORP NEW	$0	–	-16,635	–	-2.81%	–
SPAR	Exit	SPARTAN MTRS INC	$0	–	-55,340	–	-2.88%	–
TACO	Exit	DEL TACO RESTAURANTS INC	$0	–	-41,788	–	-3.02%	–
TBK	Exit	TRIUMPH BANCORP INC	$0	–	-20,669	–	-3.14%	–

Q3 2017

			Value		Shares		↓ Weighting
TBK	Buy	TRIUMPH BANCORP INC	$667,000	+34.7%	20,669	+2.6%	3.14%	+34.4%
TACO	Buy	DEL TACO RESTAURANTS INC	$641,000	+14.5%	41,788	+2.6%	3.02%	+14.1%
SPAR	Buy	SPARTAN MTRS INC	$612,000	+28.3%	55,340	+2.6%	2.88%	+28.0%
CARO	New	CAROLINA FINL CORP NEW	$597,000	–	16,635	–	2.81%	–
ANIP	Buy	ANI PHARMACEUTICALS INC	$582,000	+15.0%	11,096	+2.6%	2.74%	+14.7%
TSC	Buy	TRISTATE CAP HLDGS INC	$567,000	-0.2%	24,779	+10.0%	2.67%	-0.4%
CVGW	Buy	CALAVO GROWERS INC	$540,000	+8.7%	7,378	+2.6%	2.54%	+8.3%
HRTX	Sell	HERON THERAPEUTICS INC	$537,000	+5.5%	33,274	-9.4%	2.53%	+5.2%
IBTX	Buy	INDEPENDENT BK GROUP INC	$529,000	+3.9%	8,767	+2.6%	2.49%	+3.7%
LMB	Buy	LIMBACH HLDGS INC	$498,000	+15.3%	36,965	+2.6%	2.35%	+15.0%
PATK	Buy	PATRICK INDS INC	$492,000	+18.3%	5,852	+2.6%	2.32%	+18.0%
TUSK	Buy	MAMMOTH ENERGY SVCS INC	$488,000	-7.0%	28,964	+2.7%	2.30%	-7.3%
QCRH	Buy	QCR HOLDINGS INC	$486,000	-1.6%	10,684	+2.6%	2.29%	-1.9%
FFWM	New	FIRST FNDTN INC	$478,000	–	26,742	–	2.25%	–
HZO	New	MARINEMAX INC	$460,000	–	27,781	–	2.17%	–
CHUY	Buy	CHUYS HLDGS INC	$416,000	-7.8%	19,764	+2.6%	1.96%	-8.0%
DLTH	Buy	DULUTH HLDGS INC	$411,000	+14.2%	20,265	+2.6%	1.94%	+13.9%
BRG	Buy	BLUEROCK RESIDENTIAL GRW REI	$410,000	+55.3%	37,094	+81.3%	1.93%	+54.9%
BLDR	Sell	BUILDERS FIRSTSOURCE INC	$405,000	-12.9%	22,515	-25.8%	1.91%	-13.2%
UCFC	Buy	UNITED CMNTY FINL CORP OHIO	$399,000	+18.4%	41,568	+2.6%	1.88%	+18.1%
NLS	Buy	NAUTILUS INC	$398,000	-0.5%	23,575	+12.9%	1.88%	-0.8%
EVBG	New	EVERBRIDGE INC	$386,000	–	14,598	–	1.82%	–
REN	Buy	RESOLUTE ENERGY CORP	$376,000	+2.5%	12,657	+2.6%	1.77%	+2.2%
EXTR	New	EXTREME NETWORKS INC	$371,000	–	31,210	–	1.75%	–
RTEC	New	RUDOLPH TECHNOLOGIES INC	$370,000	–	14,061	–	1.74%	–
ISTR	Sell	INVESTAR HLDG CORP	$368,000	-26.7%	15,263	-30.3%	1.73%	-26.9%
CIO	Buy	CITY OFFICE REIT INC	$368,000	+11.2%	26,728	+2.6%	1.73%	+10.9%
CASH	New	META FINL GROUP INC	$364,000	–	4,644	–	1.72%	–
GBNK	Buy	GUARANTY BANCORP DEL	$355,000	+6.6%	12,759	+4.2%	1.67%	+6.4%
EMKR	Sell	EMCORE CORP	$355,000	-36.6%	43,345	-17.5%	1.67%	-36.8%
ATRO	Sell	ASTRONICS CORP	$352,000	-32.6%	11,840	-30.9%	1.66%	-32.7%
PCYO	Buy	PURECYCLE CORP	$351,000	+32.5%	46,790	+36.6%	1.65%	+32.1%
ADUS	Buy	ADDUS HOMECARE CORP	$349,000	-2.8%	9,890	+2.6%	1.64%	-3.1%
NEO	Sell	NEOGENOMICS INC	$348,000	-46.5%	31,268	-56.9%	1.64%	-46.7%
MSBI	Buy	MIDLAND STS BANCORP INC ILL	$345,000	+13.5%	10,901	+20.4%	1.63%	+13.2%
SONA	New	SOUTHERN NATL BANCORP OF VA	$343,000	–	20,166	–	1.62%	–
ASPN	Buy	ASPEN AEROGELS INC	$331,000	+0.3%	76,067	+2.6%	1.56%	+0.1%
BIOS	Buy	BIOSCRIP INC	$328,000	+4.1%	119,169	+2.6%	1.54%	+3.8%
PI	Buy	IMPINJ INC	$327,000	-12.1%	7,851	+2.6%	1.54%	-12.3%
LLEXQ	Buy	LILIS ENERGY INC	$322,000	+40.0%	72,075	+53.6%	1.52%	+39.6%
CDOR	Buy	CONDOR HOSPITALITY TR INC	$316,000	+0.3%	30,224	+2.6%	1.49%	+0.1%
OMER	Sell	OMEROS CORP	$300,000	-34.2%	13,868	-39.4%	1.41%	-34.4%
USCR	Sell	U S CONCRETE INC	$293,000	-49.7%	3,845	-48.1%	1.38%	-49.8%
MRAM	Sell	EVERSPIN TECHNOLOGIES INC	$292,000	-30.3%	17,074	-18.6%	1.38%	-30.5%
MGNX	New	MACROGENICS INC	$291,000	–	15,747	–	1.37%	–
TLGT	New	TELIGENT INC NEW	$285,000	–	42,483	–	1.34%	–
KERX	New	KERYX BIOPHARMACEUTICALS INC	$284,000	–	40,014	–	1.34%	–
GNMK	New	GENMARK DIAGNOSTICS INC	$277,000	–	28,800	–	1.30%	–
FBK	Buy	FB FINL CORP	$276,000	+7.0%	7,322	+2.6%	1.30%	+6.6%
AHH	Buy	ARMADA HOFFLER PPTYS INC	$266,000	+9.5%	19,256	+2.6%	1.25%	+9.1%
IOTS	New	ADESTO TECHNOLOGIES CORP	$243,000	–	30,986	–	1.14%	–
SPWH	Buy	SPORTSMANS WHSE HLDGS INC	$232,000	-14.4%	51,519	+2.6%	1.09%	-14.6%
WLH	Buy	LYON WILLIAM HOMEScl a new	$220,000	-2.7%	9,584	+2.6%	1.04%	-2.9%
MDXG	Sell	MIMEDX GROUP INC	$210,000	-60.5%	17,718	-50.1%	0.99%	-60.6%
HDSN	Sell	HUDSON TECHNOLOGIES INC	$116,000	-79.7%	14,815	-78.1%	0.55%	-79.7%
SPHS	Exit	SOPHIRIS BIO INC	$0	–	-54,510	–	-0.57%	–
SBCP	Exit	SUNSHINE BANCORP INC	$0	–	-9,926	–	-1.00%	–
MCFT	Exit	MCBC HLDGS INC	$0	–	-11,398	–	-1.05%	–
MYCC	Exit	CLUBCORP HLDGS INC	$0	–	-19,343	–	-1.20%	–
JOUT	Exit	JOHNSON OUTDOORS INCcl a	$0	–	-5,767	–	-1.31%	–
CUBI	Exit	CUSTOMERS BANCORP INC	$0	–	-10,255	–	-1.37%	–
PDFS	Exit	PDF SOLUTIONS INC	$0	–	-18,079	–	-1.40%	–
CYBE	Exit	CYBEROPTICS CORP	$0	–	-16,698	–	-1.63%	–
GNBC	Exit	GREEN BANCORP INC	$0	–	-18,982	–	-1.74%	–
MSFG	Exit	MAINSOURCE FINANCIAL GP INC	$0	–	-11,396	–	-1.80%	–
ESXB	Exit	COMMUNITY BANKERS TR CORP	$0	–	-49,726	–	-1.94%	–
TNAV	Exit	TELENAV INC	$0	–	-50,613	–	-1.94%	–

Q2 2017

			Value		Shares		↓ Weighting
NEO	New	NEOGENOMICS INC	$651,000	–	72,621	–	3.08%	–
USCR	New	U S CONCRETE INC	$582,000	–	7,409	–	2.75%	–
HDSN	New	HUDSON TECHNOLOGIES INC	$571,000	–	67,545	–	2.70%	–
TSC	New	TRISTATE CAP HLDGS INC	$568,000	–	22,531	–	2.68%	–
TACO	New	DEL TACO RESTAURANTS INC	$560,000	–	40,730	–	2.65%	–
EMKR	New	EMCORE CORP	$560,000	–	52,536	–	2.65%	–
MDXG	New	MIMEDX GROUP INC	$531,000	–	35,476	–	2.51%	–
TUSK	New	MAMMOTH ENERGY SVCS INC	$525,000	–	28,216	–	2.48%	–
ATRO	New	ASTRONICS CORP	$522,000	–	17,141	–	2.47%	–
HRTX	New	HERON THERAPEUTICS INC	$509,000	–	36,744	–	2.40%	–
IBTX	New	INDEPENDENT BK GROUP INC	$509,000	–	8,549	–	2.40%	–
ANIP	New	ANI PHARMACEUTICALS INC	$506,000	–	10,816	–	2.39%	–
ISTR	New	INVESTAR HLDG CORP	$502,000	–	21,907	–	2.37%	–
CVGW	New	CALAVO GROWERS INC	$497,000	–	7,192	–	2.35%	–
TBK	New	TRIUMPH BANCORP INC	$495,000	–	20,145	–	2.34%	–
QCRH	New	QCR HOLDINGS INC	$494,000	–	10,416	–	2.33%	–
SPAR	New	SPARTAN MTRS INC	$477,000	–	53,940	–	2.25%	–
BLDR	New	BUILDERS FIRSTSOURCE INC	$465,000	–	30,340	–	2.20%	–
OMER	New	OMEROS CORP	$456,000	–	22,900	–	2.15%	–
CHUY	New	CHUYS HLDGS INC	$451,000	–	19,262	–	2.13%	–
LMB	New	LIMBACH HLDGS INC	$432,000	–	36,029	–	2.04%	–
MRAM	New	EVERSPIN TECHNOLOGIES INC	$419,000	–	20,976	–	1.98%	–
PATK	New	PATRICK INDS INC	$416,000	–	5,706	–	1.96%	–
TNAV	New	TELENAV INC	$410,000	–	50,613	–	1.94%	–
ESXB	New	COMMUNITY BANKERS TR CORP	$410,000	–	49,726	–	1.94%	–
NLS	New	NAUTILUS INC	$400,000	–	20,887	–	1.89%	–
MSFG	New	MAINSOURCE FINANCIAL GP INC	$382,000	–	11,396	–	1.80%	–
PI	New	IMPINJ INC	$372,000	–	7,651	–	1.76%	–
GNBC	New	GREEN BANCORP INC	$368,000	–	18,982	–	1.74%	–
REN	New	RESOLUTE ENERGY CORP	$367,000	–	12,337	–	1.73%	–
DLTH	New	DULUTH HLDGS INC	$360,000	–	19,753	–	1.70%	–
ADUS	New	ADDUS HOMECARE CORP	$359,000	–	9,640	–	1.70%	–
CYBE	New	CYBEROPTICS CORP	$345,000	–	16,698	–	1.63%	–
UCFC	New	UNITED CMNTY FINL CORP OHIO	$337,000	–	40,518	–	1.59%	–
GBNK	New	GUARANTY BANCORP DEL	$333,000	–	12,244	–	1.57%	–
CIO	New	CITY OFFICE REIT INC	$331,000	–	26,054	–	1.56%	–
ASPN	New	ASPEN AEROGELS INC	$330,000	–	74,141	–	1.56%	–
BIOS	New	BIOSCRIP INC	$315,000	–	116,153	–	1.49%	–
CDOR	New	CONDOR HOSPITALITY TR INC	$315,000	–	29,458	–	1.49%	–
MSBI	New	MIDLAND STS BANCORP INC ILL	$304,000	–	9,056	–	1.44%	–
PDFS	New	PDF SOLUTIONS INC	$297,000	–	18,079	–	1.40%	–
CUBI	New	CUSTOMERS BANCORP INC	$290,000	–	10,255	–	1.37%	–
JOUT	New	JOHNSON OUTDOORS INCcl a	$278,000	–	5,767	–	1.31%	–
SPWH	New	SPORTSMANS WHSE HLDGS INC	$271,000	–	50,213	–	1.28%	–
PCYO	New	PURECYCLE CORP	$265,000	–	34,256	–	1.25%	–
BRG	New	BLUEROCK RESIDENTIAL GRW REI	$264,000	–	20,463	–	1.25%	–
FBK	New	FB FINL CORP	$258,000	–	7,138	–	1.22%	–
MYCC	New	CLUBCORP HLDGS INC	$253,000	–	19,343	–	1.20%	–
AHH	New	ARMADA HOFFLER PPTYS INC	$243,000	–	18,770	–	1.15%	–
LLEXQ	New	LILIS ENERGY INC	$230,000	–	46,910	–	1.09%	–
WLH	New	LYON WILLIAM HOMEScl a new	$226,000	–	9,342	–	1.07%	–
MCFT	New	MCBC HLDGS INC	$223,000	–	11,398	–	1.05%	–
SBCP	New	SUNSHINE BANCORP INC	$212,000	–	9,926	–	1.00%	–
SPHS	New	SOPHIRIS BIO INC	$120,000	–	54,510	–	0.57%	–

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Export Mesirow Financial Investment Management, Inc.'s holdings