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

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

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AGILYSYS ORD COM 00847J105 15,818 334,637 SH   SOLE   92,720 0 241,917
AGILYSYS ORD COM 00847J105 4,764 100,780 SH   OTR 1 0 0 100,780
AGILYSYS ORD COM 00847J105 1,542 32,630 SH   OTR 2 32,630 0 0
ALEXANDER AND BALDWIN ORD COM 014491104 6,976 388,619 SH   SOLE   69,820 0 318,799
ALEXANDER AND BALDWIN ORD COM 014491104 2,099 116,936 SH   OTR 1 0 0 116,936
ARGAN ORD COM 04010E109 11,664 312,547 SH   SOLE   81,690 0 230,857
ARGAN ORD COM 04010E109 3,513 94,135 SH   OTR 1 0 0 94,135
ARGAN ORD COM 04010E109 954 25,564 SH   OTR 2 25,564 0 0
AVID BIOSERVICES ORD COM 05368M106 36,447 2,388,423 SH   SOLE   1,684,377 0 704,046
AVID BIOSERVICES ORD COM 05368M106 4,301 281,879 SH   OTR 1 0 0 281,879
AVID BIOSERVICES ORD COM 05368M106 991 64,938 SH   OTR 2 64,938 0 0
BGC PARTNERS CL A ORD COM 05541T101 26,280 7,798,099 SH   SOLE   6,081,112 0 1,716,987
BGC PARTNERS CL A ORD COM 05541T101 2,122 629,821 SH   OTR 1 0 0 629,821
B RILEY FINANCIAL ORD COM 05580M108 694 16,430 SH   OTR 2 16,430 0 0
BAKER HUGHES CL A ORD COM 05722G100 33,786 1,170,270 SH   SOLE   1,170,270 0 0
CABLE ONE ORD COM 12685J105 15,665 12,150 SH   SOLE   12,150 0 0
CHASE ORD COM 16150R104 11,344 145,797 SH   SOLE   37,017 0 108,780
CHASE ORD COM 16150R104 3,418 43,922 SH   OTR 1 0 0 43,922
CHASE ORD COM 16150R104 844 10,844 SH   OTR 2 10,844 0 0
CONCRETE PUMPING HOLDINGS ORD COM 206704108 10,011 1,652,020 SH   SOLE   482,885 0 1,169,135
CONCRETE PUMPING HOLDINGS ORD COM 206704108 3,011 496,929 SH   OTR 1 0 0 496,929
CONCRETE PUMPING HOLDINGS ORD COM 206704108 1,130 186,487 SH   OTR 2 186,487 0 0
DOLLAR GENERAL ORD COM 256677105 27,703 112,870 SH   SOLE   112,870 0 0
EPLUS ORD COM 294268107 37,938 714,192 SH   SOLE   532,754 0 181,438
EPLUS ORD COM 294268107 4,051 76,262 SH   OTR 1 0 0 76,262
EPLUS ORD COM 294268107 1,391 26,186 SH   OTR 2 26,186 0 0
FIRSTSERVICE SUB VTG ORD COM 33767E202 12,556 103,600 SH   SOLE   18,630 0 84,970
FIRSTSERVICE SUB VTG ORD COM 33767E202 3,778 31,175 SH   OTR 1 0 0 31,175
HACKETT GROUP ORD COM 404609109 12,271 646,863 SH   SOLE   178,987 0 467,876
HACKETT GROUP ORD COM 404609109 3,696 194,819 SH   OTR 1 0 0 194,819
HACKETT GROUP ORD COM 404609109 1,192 62,826 SH   OTR 2 62,826 0 0
IES ORD COM 44951W106 11,403 377,961 SH   SOLE   99,807 0 278,154
IES ORD COM 44951W106 3,430 113,685 SH   OTR 1 0 0 113,685
IES ORD COM 44951W106 965 31,985 SH   OTR 2 31,985 0 0
LUXFER HOLDINGS ORD COM 550678106 9,075 600,190 SH   SOLE   169,130 0 431,060
LUXFER HOLDINGS ORD COM 550678106 2,728 180,450 SH   OTR 1 0 0 180,450
LUXFER HOLDINGS ORD COM 550678106 925 61,190 SH   OTR 2 61,190 0 0
MARRIOTT INTERNATIONAL CL A ORD COM 571903202 22,172 163,020 SH   SOLE   163,020 0 0
MUELLER INDUSTRIES ORD COM 624756102 17,400 326,519 SH   SOLE   58,661 0 267,858
MUELLER INDUSTRIES ORD COM 624756102 5,237 98,279 SH   OTR 1 0 0 98,279
NVR ORD COM 62944T105 17,658 4,410 SH   SOLE   4,410 0 0
NORTHRIM BANCORP ORD COM 666762109 10,700 265,768 SH   SOLE   74,066 0 191,702
NORTHRIM BANCORP ORD COM 666762109 3,219 79,959 SH   OTR 1 0 0 79,959
NORTHRIM BANCORP ORD COM 666762109 1,058 26,272 SH   OTR 2 26,272 0 0
NOMAD FOODS ORD COM G6564A105 32,759 1,638,758 SH   SOLE   1,084,150 0 554,608
NOMAD FOODS ORD COM G6564A105 4,070 203,605 SH   OTR 1 0 0 203,605
OCEAN BIO CHEM ORD COM 674631106 1,541 119,626 SH   OTR 2 119,626 0 0
PALANTIR TECHNOLOGIES CL A ORD COM 69608A108 23,557 2,597,270 SH   SOLE   2,597,270 0 0
SAFETY INSURANCE GROUP ORD COM 78648T100 16,966 174,730 SH   SOLE   31,360 0 143,370
SAFETY INSURANCE GROUP ORD COM 78648T100 5,110 52,622 SH   OTR 1 0 0 52,622
SEMLER SCIENTIFIC ORD COM 81684M104 979 34,730 SH   OTR 2 34,730 0 0
SIGA TECHNOLOGIES ORD COM 826917106 15,757 1,360,734 SH   SOLE   336,564 0 1,024,170
SIGA TECHNOLOGIES ORD COM 826917106 4,740 409,310 SH   OTR 1 0 0 409,310
SIGA TECHNOLOGIES ORD COM 826917106 1,070 92,432 SH   OTR 2 92,432 0 0
STEWART INFO SVC ORD COM 860372101 697 14,009 SH   OTR 2 14,009 0 0
STONEX GROUP ORD COM 861896108 64,620 827,723 SH   SOLE   605,305 0 222,418
STONEX GROUP ORD COM 861896108 6,374 81,643 SH   OTR 1 0 0 81,643
SUNSTONE HOTEL INVESTORS REIT ORD COM 867892101 12,373 1,247,246 SH   SOLE   223,970 0 1,023,276
SUNSTONE HOTEL INVESTORS REIT ORD COM 867892101 3,727 375,661 SH   OTR 1 0 0 375,661
UFP TECHNOLOGIES ORD COM 902673102 20,821 261,671 SH   SOLE   67,007 0 194,664
UFP TECHNOLOGIES ORD COM 902673102 6,266 78,753 SH   OTR 1 0 0 78,753
UFP TECHNOLOGIES ORD COM 902673102 1,591 19,997 SH   OTR 2 19,997 0 0
UNITEDHEALTH GRP ORD COM 91324P102 33,879 65,960 SH   SOLE   65,960 0 0
VILLAGE SUPER MARKET CL A ORD COM 927107409 1,063 46,605 SH   OTR 2 46,605 0 0
WINMARK ORD COM 974250102 10,221 52,265 SH   SOLE   14,581 0 37,684
WINMARK ORD COM 974250102 3,075 15,722 SH   OTR 1 0 0 15,722
WINMARK ORD COM 974250102 1,014 5,184 SH   OTR 2 5,184 0 0