The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
1-800-Flowers.com Inc COM 68243Q106   1,211,758 112,408 SH   SOLE   55,608 0 56,800
ACCO Brands COM 00081T108   1,523,326 250,547 SH   SOLE   123,667 0 126,880
ARC Document Solutions COM 00191G103   4,521,503 1,378,507 SH   SOLE   913,087 0 465,420
AXT Inc COM 00246W103   2,850,322 1,187,634 SH   SOLE   775,814 0 411,820
Acacia Research Corp COM 003881307   4,410,466 1,125,119 SH   SOLE   723,669 0 401,450
Alico Inc COM 016230104   6,054,660 208,207 SH   SOLE   136,437 0 71,770
Alpine Income Property Trust COM 02083X103   5,522,823 326,601 SH   SOLE   215,840 0 110,761
Amtech Systems COM 032332504   3,168,379 754,376 SH   SOLE   492,146 0 262,230
Asure Software COM 04649U102   7,093,780 745,145 SH   SOLE   473,868 0 271,277
BGSF Inc COM 05601C105   4,686,398 498,553 SH   SOLE   325,738 0 172,815
BM Technologies Inc COM 05591L107   1,323,824 645,768 SH   SOLE   420,508 0 225,260
Banc of California Inc COM 05990K106   1,316,207 98,005 SH   SOLE   48,475 0 49,530
Bankwell Financial Group COM 06654A103   4,072,489 134,940 SH   SOLE   89,350 0 45,590
Barrett Business Services Inc COM 068463108   14,118,683 121,923 SH   SOLE   77,193 0 44,730
Benchmark Electronics, Inc COM 08160H101   1,370,612 49,588 SH   SOLE   24,528 0 25,060
Bloomin Brands COM 094235108   536,821 19,070 SH   SOLE   9,430 0 9,640
Bowman Consulting Grp COM 103002101   10,712,796 301,599 SH   SOLE   199,809 0 101,790
Brandywine Realty Trust COM 105368203   546,809 101,261 SH   SOLE   49,981 0 51,280
Bridgewater Bancshares COM 108621103   1,634,446 120,891 SH   SOLE   59,791 0 61,100
Brinker International COM 109641100   644,375 14,923 SH   SOLE   7,383 0 7,540
Build A Bear Workshop COM 120076104   10,246,528 445,695 SH   SOLE   295,155 0 150,540
Business First Bancshares Inc COM 12326C105   1,476,412 59,895 SH   SOLE   29,615 0 30,280
Caleres Inc COM 129500104   1,745,157 56,790 SH   SOLE   28,090 0 28,700
Capital Bancorp COM 139737100   4,636,768 191,602 SH   SOLE   126,999 0 64,603
Cheesecake Factory COM 163072101   440,426 12,580 SH   SOLE   6,220 0 6,360
Chefs' Warehouse COM 163086101   1,402,487 47,655 SH   SOLE   23,575 0 24,080
Chicos FAS COM 168615102   381,501 50,330 SH   SOLE   24,870 0 25,460
Civista Bancshares COM 178867107   7,235,100 392,359 SH   SOLE   247,195 0 145,164
Cohu Inc COM 192576106   1,707,426 48,246 SH   SOLE   23,866 0 24,380
Colony Bankcorp COM 19623P101   6,662,502 500,940 SH   SOLE   329,078 0 171,862
Columbus McKinnon Corp COM 199333105   1,005,975 25,781 SH   SOLE   12,751 0 13,030
Comtech Telecom Corp COM 205826209   4,034,505 478,589 SH   SOLE   304,089 0 174,500
ConnectOne Bancorp COM 20786W107   1,839,581 80,296 SH   SOLE   39,706 0 40,590
Cooper Standard Hlds COM 21676P103   7,242,560 370,653 SH   SOLE   234,283 0 136,370
Cra Intl Inc COM 12618T105   6,139,672 62,111 SH   SOLE   41,121 0 20,990
Customers Bancorp COM 23204G100   2,614,047 45,367 SH   SOLE   22,397 0 22,970
DHI Group COM 23331S100   3,392,203 1,309,731 SH   SOLE   867,131 0 442,600
DMC Global Inc COM 23291C103   5,063,916 269,071 SH   SOLE   170,751 0 98,320
DXP Enterprises, Inc COM 233377407   642,659 19,070 SH   SOLE   9,430 0 9,640
Daktronics, Inc COM 234264109   644,226 75,970 SH   SOLE   37,580 0 38,390
Designer Brands COM 250565108   1,151,757 130,142 SH   SOLE   64,242 0 65,900
Destination XL Group COM 25065K104   6,621,120 1,504,800 SH   SOLE   989,440 0 515,360
EPlus Inc COM 294268107   1,992,008 24,950 SH   SOLE   12,340 0 12,610
Eagle Bancorp Montana COM 26942G100   3,047,502 193,002 SH   SOLE   126,642 0 66,360
Edgewell Personal Care COM 28035Q102   1,164,101 31,780 SH   SOLE   15,720 0 16,060
Enerpac Tool Group COM 292765104   419,777 13,502 SH   SOLE   6,672 0 6,830
Ennis Inc COM 293389102   1,062,788 48,507 SH   SOLE   23,997 0 24,510
Esquire Financial Hld COM 29667J101   5,412,067 108,328 SH   SOLE   71,768 0 36,560
FS Bancorp COM 30263Y104   9,879,888 267,313 SH   SOLE   177,093 0 90,220
Farmers National Banc Corp COM 309627107   5,072,889 351,065 SH   SOLE   232,675 0 118,390
First Business Financial Servi COM 319390100   6,697,061 167,009 SH   SOLE   110,669 0 56,340
First Financial Corp COM 320218100   1,536,859 35,716 SH   SOLE   17,666 0 18,050
First Northwest COM 335834107   4,135,856 259,464 SH   SOLE   171,890 0 87,574
Five Star Bancorp COM 33830T103   5,712,973 218,219 SH   SOLE   144,559 0 73,660
Genasys COM 36872P103   2,140,596 1,054,481 SH   SOLE   688,561 0 365,920
GigaCloud Tech Cls A COM G38644103   1,548,068 84,617 SH   SOLE   41,807 0 42,810
Global Medical REIT COM 37954A204   7,393,144 666,049 SH   SOLE   420,179 0 245,870
Global Net Lease REIT COM 379378201   1,083,913 108,936 SH   SOLE   53,889 0 55,047
Great Ajax Corp COM 38983D300   3,907,130 737,194 SH   SOLE   460,291 0 276,903
Hamilton Beach Brands Hld COM 40701T104   7,027,517 401,802 SH   SOLE   266,312 0 135,490
Hanesbrands COM 410345102   1,034,390 231,926 SH   SOLE   115,316 0 116,610
Healthcare Services Group Inc COM 421906108   1,179,214 113,714 SH   SOLE   56,454 0 57,260
Heidrick & Struggles Intl COM 422819102   1,303,159 44,130 SH   SOLE   21,830 0 22,300
Heritage Commerce Corp COM 426927109   954,235 96,193 SH   SOLE   47,573 0 48,620
Heritage Financial COM 42722X106   1,296,833 60,628 SH   SOLE   29,928 0 30,700
Heritage Insurance Hlds Inc COM 42727J102   5,906,175 905,855 SH   SOLE   599,885 0 305,970
Horizon Bancorp COM 440407104   5,509,651 385,021 SH   SOLE   253,521 0 131,500
Hudson Technologies COM 444144109   851,624 63,130 SH   SOLE   31,190 0 31,940
Hurco Companies Inc COM 447324104   3,995,473 185,577 SH   SOLE   120,997 0 64,580
Ichor Holdings COM G4740B105   1,333,530 39,653 SH   SOLE   19,613 0 20,040
InTest Corp COM 461147100   4,842,171 356,042 SH   SOLE   234,592 0 121,450
JAKKS Pacific Inc COM 47012E403   4,254,162 119,667 SH   SOLE   79,307 0 40,360
Kelly Services Cls A COM 488152208   1,360,979 62,950 SH   SOLE   31,140 0 31,810
Kimball Electronics COM 49428J109   9,926,844 368,343 SH   SOLE   243,923 0 124,420
Koppers Holdings COM 50060P106   1,759,663 34,355 SH   SOLE   16,995 0 17,360
Lakeland Industries COM 511795106   10,163,665 548,202 SH   SOLE   361,732 0 186,470
Lifetime Brands Inc COM 53222Q103   4,127,985 615,199 SH   SOLE   401,599 0 213,600
Lincoln Education Services COM 533535100   5,026,165 500,614 SH   SOLE   331,724 0 168,890
Manitex International Inc COM 563420108   8,402,356 961,368 SH   SOLE   637,178 0 324,190
Matrix Service Co COM 576853105   592,238 60,556 SH   SOLE   29,956 0 30,600
Metropolitan Bank Hld COM 591774104   14,551,317 262,754 SH   SOLE   165,154 0 97,600
Miller Industries Inc COM 600551204   7,050,081 166,708 SH   SOLE   110,458 0 56,250
Mistras Group Inc COM 60649T107   2,842,422 388,309 SH   SOLE   247,870 0 140,439
MotorCar Parts of America Inc COM 620071100   7,616,537 815,475 SH   SOLE   535,065 0 280,410
NN Inc COM 629337106   2,202,792 550,698 SH   SOLE   363,958 0 186,740
NV5 Global Inc COM 62945V109   783,507 7,051 SH   SOLE   3,491 0 3,560
Natural Gas Services Group Inc COM 63886Q109   9,974,392 620,298 SH   SOLE   411,013 0 209,285
Netgear Inc COM 64111Q104   623,266 42,748 SH   SOLE   21,148 0 21,600
Newpark Resources Inc COM 651718504   549,135 82,701 SH   SOLE   40,911 0 41,790
Northeast Bank COM 66405S100   11,671,360 211,476 SH   SOLE   134,966 0 76,510
Northwest Pipe COM 667746101   9,594,447 317,067 SH   SOLE   209,597 0 107,470
One Stop Systems COM 68247W109   1,179,776 561,798 SH   SOLE   368,477 0 193,321
Orrstown Financial Services COM 687380105   6,486,608 219,885 SH   SOLE   145,705 0 74,180
PAM Transportation Services, I COM 693149106   2,642,551 127,168 SH   SOLE   84,102 0 43,066
PC Connection COM 69318J100   1,073,814 15,977 SH   SOLE   7,887 0 8,090
PRA Group COM 69354N106   936,833 35,757 SH   SOLE   17,687 0 18,070
Parke Bancorp COM 700885106   7,243,061 357,682 SH   SOLE   236,650 0 121,032
Pathward Financial Inc COM 59100U108   1,456,792 27,523 SH   SOLE   13,613 0 13,910
Patrick Industries COM 703343103   1,295,519 12,910 SH   SOLE   6,390 0 6,520
Perdoceo Education Corp. COM 71363P106   2,096,998 119,419 SH   SOLE   59,069 0 60,350
Photronics Inc COM 719405102   2,174,098 69,305 SH   SOLE   34,205 0 35,100
ProFire Energy COM 74316X101   2,866,081 1,583,470 SH   SOLE   1,049,071 0 534,399
QCR Holdings Inc COM 74727A104   1,320,548 22,616 SH   SOLE   11,186 0 11,430
Quantum Corp COM 747906501   467,188 1,338,647 SH   SOLE   872,567 0 466,080
RMR Group Cls A COM 74967R106   1,052,697 37,290 SH   SOLE   18,420 0 18,870
Red Robin Gourmet Burgers COM 75689M101   7,950,722 637,588 SH   SOLE   422,528 0 215,060
Resources Connection COM 76122Q105   1,203,515 84,934 SH   SOLE   42,014 0 42,920
Ribbon Communications Inc COM 762544104   402,430 138,769 SH   SOLE   68,649 0 70,120
Rimini Street Inc. COM 76674Q107   4,525,579 1,383,969 SH   SOLE   869,989 0 513,980
Riverview Bancorp COM 769397100   4,734,931 739,833 SH   SOLE   487,533 0 252,300
SP Plus Corp COM 78469C103   1,886,923 36,818 SH   SOLE   18,188 0 18,630
Shimmick COM 82455M109   2,580,171 390,935 SH   SOLE   254,335 0 136,600
Shyft Group Inc COM 825698103   459,105 37,570 SH   SOLE   18,590 0 18,980
Silvercrest Asset Mgmnt Cls A COM 828359109   4,690,997 275,941 SH   SOLE   182,814 0 93,127
Smart Global Holdings COM G8232Y101   465,167 24,573 SH   SOLE   12,133 0 12,440
Smith Micro Software COM 832154207   1,757,885 2,128,190 SH   SOLE   1,384,320 0 743,870
Stagwell Inc COM 85256A109   1,841,841 277,804 SH   SOLE   137,384 0 140,420
Standard Motor COM 853666105   736,485 18,500 SH   SOLE   9,150 0 9,350
Sterling Infrastructure Inc COM 859241101   2,253,382 25,627 SH   SOLE   12,707 0 12,920
Strattec Security COM 863111100   5,105,985 201,499 SH   SOLE   131,599 0 69,900
System1 Inc COM 87200P109   519,012 233,789 SH   SOLE   115,649 0 118,140
Tilly's Inc Cls A COM 886885102   4,721,058 626,135 SH   SOLE   412,355 0 213,780
TrueBlue Inc COM 89785X101   802,021 52,283 SH   SOLE   25,863 0 26,420
Twin Disc Inc COM 901476101   9,260,019 573,021 SH   SOLE   379,801 0 193,220
USCB Financial Hlds COM 90355N101   5,589,957 456,323 SH   SOLE   301,873 0 154,450
Ultra Clean Holdings COM 90385V107   1,552,755 45,482 SH   SOLE   22,492 0 22,990
Unity Bancorp COM 913290102   6,655,827 224,935 SH   SOLE   149,085 0 75,850
Universal Electronics Inc COM 913483103   3,573,580 380,573 SH   SOLE   241,323 0 139,250
Universal Logistics COM 91388P105   469,811 16,767 SH   SOLE   8,277 0 8,490
Universal Technical Institute COM 913915104   6,094,661 486,794 SH   SOLE   322,464 0 164,330
Univest Financial Corp COM 915271100   1,036,622 47,055 SH   SOLE   23,275 0 23,780
Wabash National Corp. COM 929566107   2,081,830 81,258 SH   SOLE   40,178 0 41,080
West Bancorporation COM 95123P106   5,593,196 263,830 SH   SOLE   165,670 0 98,160
Whole Earth Brands Cls A COM 96684W100   3,364,968 986,794 SH   SOLE   616,414 0 370,380
Wolverine World Wide COM 978097103   464,876 52,292 SH   SOLE   25,812 0 26,480
Zumiez Inc COM 989817101   733,806 36,077 SH   SOLE   17,847 0 18,230
iShares Russell 2000 Value Ind COM 464287630   2,813,803 18,115 SH   SOLE   18,115 0 0