<SEC-DOCUMENT>0001752724-21-181218.txt : 20210824
<SEC-HEADER>0001752724-21-181218.hdr.sgml : 20210824
<ACCEPTANCE-DATETIME>20210824102349
ACCESSION NUMBER:		0001752724-21-181218
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210630
FILED AS OF DATE:		20210824
PERIOD START:           	20211231

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ROYCE MICRO-CAP TRUST, INC.
		CENTRAL INDEX KEY:			0000912147
		IRS NUMBER:				133739778
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-08030
		FILM NUMBER:		211199541

	BUSINESS ADDRESS:	
		STREET 1:		745 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10151
		BUSINESS PHONE:		2124084587

	MAIL ADDRESS:	
		STREET 1:		745 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10151

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ROYCE MICRO-CAP TRUST, INC /MD/
		DATE OF NAME CHANGE:	20090324

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ROYCE MICRO CAP TRUST INC /MD/
		DATE OF NAME CHANGE:	20010430

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ROYCE OTC MICRO CAP FUND INC
		DATE OF NAME CHANGE:	19930917
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/nport" xmlns:com="http://www.sec.gov/edgar/common" xmlns:ncom="http://www.sec.gov/edgar/nportcommon" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.sec.gov/edgar/nport eis_NPORT_Filer.xsd">
  <headerData>
    <submissionType>NPORT-P</submissionType>
    <isConfidential>false</isConfidential>
    <filerInfo>

      <filer>
        <issuerCredentials>
          <cik>0000912147</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>




    </filerInfo>
  </headerData>
  <formData>
    <genInfo>
      <regName>ROYCE MICRO-CAP TRUST, INC.</regName>
      <regFileNumber>811-08030</regFileNumber>
      <regCik>0000912147</regCik>
      <regLei>254900D3WFIV4SD8EF19</regLei>
      <regStreet1>745 FIFTH AVENUE</regStreet1>
      <regCity>NEW YORK</regCity>
      <regStateConditional regCountry="US" regState="US-NY"/>
      <regZipOrPostalCode>10151</regZipOrPostalCode>
      <regPhone>212-508-4500</regPhone>
      <seriesName>ROYCE MICRO-CAP TRUST, INC.</seriesName>
      <seriesLei>254900D3WFIV4SD8EF19</seriesLei>
      <repPdEnd>2021-12-31</repPdEnd>
      <repPdDate>2021-06-30</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>637404265.35</totAssets>
      <totLiabs>22770292.19</totLiabs>
      <netAssets>614633973.16</netAssets>
      <assetsAttrMiscSec>0.00000000</assetsAttrMiscSec>
      <assetsInvested>0.00000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.00000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.00000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.00000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.00000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>22000000.00000000</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0.00000000</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0.00000000</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0.00000000</amtPayAftOneYrOther>
      <delayDeliv>0.00000000</delayDeliv>
      <standByCommit>0.00000000</standByCommit>
      <liquidPref>0.00000000</liquidPref>
      <cshNotRptdInCorD>21892.74000000</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn rtn1="4.78000000" rtn2="1.25000000" rtn3="2.47000000"/>
        </monthlyTotReturns>
        <monthlyReturnCats>
          <equityContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <warrantCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </otherCategory>
          </equityContracts>
        </monthlyReturnCats>
        <othMon1 netRealizedGain="730817.83000000" netUnrealizedAppr="26472065.15000000"/>
        <othMon2 netRealizedGain="89764.94000000" netUnrealizedAppr="7403711.79000000"/>
        <othMon3 netRealizedGain="12291231.05000000" netUnrealizedAppr="2103717.86000000"/>
      </returnInfo>
      <mon1Flow redemption="0.00000000" reinvestment="0.00000000" sales="0.00000000"/>
      <mon2Flow redemption="0.00000000" reinvestment="0.00000000" sales="0.00000000"/>
      <mon3Flow redemption="0.00000000" reinvestment="3618802.57000000" sales="0.00000000"/>


    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>Astronics Corp</name>
        <lei>549300NNXCF8H4MSMK17</lei>
        <title>Astronics Corp</title>
        <cusip>046433108</cusip>
        <identifiers>
          <isin value="US0464331083"/>
        </identifiers>
        <balance>26129.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>457518.79000000</valUSD>
        <pctVal>0.074437601886</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Camtek Ltd/Israel</name>
        <lei>N/A</lei>
        <title>Camtek Ltd/Israel</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0010952641"/>
        </identifiers>
        <balance>101700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3835107.00000000</valUSD>
        <pctVal>0.623965997239</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OneWater Marine Inc</name>
        <lei>N/A</lei>
        <title>OneWater Marine Inc</title>
        <cusip>68280L101</cusip>
        <identifiers>
          <isin value="US68280L1017"/>
        </identifiers>
        <balance>27845.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1170325.35000000</valUSD>
        <pctVal>0.190410130436</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GP Strategies Corp</name>
        <lei>5493006GWK1B65HI6Q32</lei>
        <title>GP Strategies Corp</title>
        <cusip>36225V104</cusip>
        <identifiers>
          <isin value="US36225V1044"/>
        </identifiers>
        <balance>43700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>686964.00000000</valUSD>
        <pctVal>0.111767983873</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vocera Communications Inc</name>
        <lei>5493006D2J6NPNZ60K83</lei>
        <title>Vocera Communications Inc</title>
        <cusip>92857F107</cusip>
        <identifiers>
          <isin value="US92857F1075"/>
        </identifiers>
        <balance>33100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1319035.00000000</valUSD>
        <pctVal>0.214604961261</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Southern First Bancshares Inc</name>
        <lei>N/A</lei>
        <title>Southern First Bancshares Inc</title>
        <cusip>842873101</cusip>
        <identifiers>
          <isin value="US8428731017"/>
        </identifiers>
        <balance>9300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>475788.00000000</valUSD>
        <pctVal>0.077409974192</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>North American Construction Group Ltd</name>
        <lei>549300DQ6060LO4XGI15</lei>
        <title>North American Construction Group Ltd</title>
        <cusip>656811106</cusip>
        <identifiers>
          <isin value="CA6568111067"/>
        </identifiers>
        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>759000.00000000</valUSD>
        <pctVal>0.123488130032</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Urbana Corp</name>
        <lei>5493003WCSNG13LU3180</lei>
        <title>Urbana Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA91707P1099"/>
        </identifiers>
        <balance>237600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>651694.09000000</valUSD>
        <pctVal>0.106029623883</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nova Measuring Instruments Ltd</name>
        <lei>529900B2DSWE5V3SC292</lei>
        <title>Nova Measuring Instruments Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0010845571"/>
        </identifiers>
        <balance>59500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6121955.00000000</valUSD>
        <pctVal>0.996032641756</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LSB Industries Inc</name>
        <lei>5493001H215A0HG0MI71</lei>
        <title>LSB Industries Inc</title>
        <cusip>502160104</cusip>
        <identifiers>
          <isin value="US5021601043"/>
        </identifiers>
        <balance>135800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>821590.00000000</valUSD>
        <pctVal>0.133671426552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Stoneridge Inc</name>
        <lei>PNBCIH9LE7WI83VJIF08</lei>
        <title>Stoneridge Inc</title>
        <cusip>86183P102</cusip>
        <identifiers>
          <isin value="US86183P1021"/>
        </identifiers>
        <balance>57600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1699200.00000000</valUSD>
        <pctVal>0.276457220752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MAG Silver Corp</name>
        <lei>254900LGL904N7F3EL14</lei>
        <title>MAG Silver Corp</title>
        <cusip>55903Q104</cusip>
        <identifiers>
          <isin value="CA55903Q1046"/>
        </identifiers>
        <balance>154050.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3222726.00000000</valUSD>
        <pctVal>0.524332552499</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kulicke &amp; Soffa Industries Inc</name>
        <lei>529900H6BEIRBF429744</lei>
        <title>Kulicke &amp; Soffa Industries Inc</title>
        <cusip>501242101</cusip>
        <identifiers>
          <isin value="US5012421013"/>
        </identifiers>
        <balance>77200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4724640.00000000</valUSD>
        <pctVal>0.768691645160</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LiveVox Holdings Inc</name>
        <lei>5493008LL6C0ZXV5O729</lei>
        <title>LiveVox Holdings Inc</title>
        <cusip>53838L100</cusip>
        <identifiers>
          <isin value="US53838L1008"/>
        </identifiers>
        <balance>113929.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>951307.15000000</valUSD>
        <pctVal>0.154776206903</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Patriot Transportation Holding Inc</name>
        <lei>549300CONREOD6V7PO98</lei>
        <title>Patriot Transportation Holding Inc</title>
        <cusip>70338W105</cusip>
        <identifiers>
          <isin value="US70338W1053"/>
        </identifiers>
        <balance>55764.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>627902.64000000</valUSD>
        <pctVal>0.102158791641</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VNV Global AB</name>
        <lei>549300ONMNSTOBAU0S14</lei>
        <title>VNV Global AB</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0014428835"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="8.55810000"/>
        <valUSD>1114149.17000000</valUSD>
        <pctVal>0.181270352543</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Motorcar Parts of America Inc</name>
        <lei>549300AG4610OSV3H429</lei>
        <title>Motorcar Parts of America Inc</title>
        <cusip>620071100</cusip>
        <identifiers>
          <isin value="US6200711009"/>
        </identifiers>
        <balance>54800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1229712.00000000</valUSD>
        <pctVal>0.200072246849</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Seneca Foods Corp</name>
        <lei>N/A</lei>
        <title>Seneca Foods Corp</title>
        <cusip>817070105</cusip>
        <identifiers>
          <isin value="US8170701051"/>
        </identifiers>
        <balance>40400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2115950.00000000</valUSD>
        <pctVal>0.344261803349</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Simulations Plus Inc</name>
        <lei>N/A</lei>
        <title>Simulations Plus Inc</title>
        <cusip>829214105</cusip>
        <identifiers>
          <isin value="US8292141053"/>
        </identifiers>
        <balance>85570.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4698648.70000000</valUSD>
        <pctVal>0.764462900715</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Live Oak Bancshares Inc</name>
        <lei>N/A</lei>
        <title>Live Oak Bancshares Inc</title>
        <cusip>53803X105</cusip>
        <identifiers>
          <isin value="US53803X1054"/>
        </identifiers>
        <balance>30900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1823100.00000000</valUSD>
        <pctVal>0.296615559765</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Spartan Acquisition Corp II</name>
        <lei>N/A</lei>
        <title>Spartan Acquisition Corp II</title>
        <cusip>846775104</cusip>
        <identifiers>
          <isin value="US8467751041"/>
        </identifiers>
        <balance>80754.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>806732.46000000</valUSD>
        <pctVal>0.131254127696</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Heritage-Crystal Clean Inc</name>
        <lei>N/A</lei>
        <title>Heritage-Crystal Clean Inc</title>
        <cusip>42726M106</cusip>
        <identifiers>
          <isin value="US42726M1062"/>
        </identifiers>
        <balance>123001.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3650669.68000000</valUSD>
        <pctVal>0.593958329577</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Universal Stainless &amp; Alloy Products Inc</name>
        <lei>5493001OEIZDUGXZDE09</lei>
        <title>Universal Stainless &amp; Alloy Products Inc</title>
        <cusip>913837100</cusip>
        <identifiers>
          <isin value="US9138371003"/>
        </identifiers>
        <balance>33620.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>338553.40000000</valUSD>
        <pctVal>0.055082116313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Motorsport Games Inc</name>
        <lei>N/A</lei>
        <title>Motorsport Games Inc</title>
        <cusip>62011B102</cusip>
        <identifiers>
          <isin value="US62011B1026"/>
        </identifiers>
        <balance>4700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>65800.00000000</valUSD>
        <pctVal>0.010705558571</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PetIQ Inc</name>
        <lei>549300GROACFGKVYOX14</lei>
        <title>PetIQ Inc</title>
        <cusip>71639T106</cusip>
        <identifiers>
          <isin value="US71639T1060"/>
        </identifiers>
        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>965000.00000000</valUSD>
        <pctVal>0.157004012491</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bel Fuse Inc</name>
        <lei>2549009L4XYDBRRY6X39</lei>
        <title>Bel Fuse Inc</title>
        <cusip>077347201</cusip>
        <identifiers>
          <isin value="US0773472016"/>
        </identifiers>
        <balance>67705.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>969535.60000000</valUSD>
        <pctVal>0.157741947620</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BioLife Solutions Inc</name>
        <lei>549300G2IVCMC2TJDW72</lei>
        <title>BioLife Solutions Inc</title>
        <cusip>09062W204</cusip>
        <identifiers>
          <isin value="US09062W2044"/>
        </identifiers>
        <balance>33700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1499987.00000000</valUSD>
        <pctVal>0.244045572731</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sequans Communications SA</name>
        <lei>969500G8ZIY1D601KJ66</lei>
        <title>Sequans Communications SA</title>
        <cusip>817323207</cusip>
        <identifiers>
          <isin value="US8173232070"/>
        </identifiers>
        <balance>31800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>191436.00000000</valUSD>
        <pctVal>0.031146342109</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cutera Inc</name>
        <lei>529900NPKPEWJWR21Z42</lei>
        <title>Cutera Inc</title>
        <cusip>232109108</cusip>
        <identifiers>
          <isin value="US2321091082"/>
        </identifiers>
        <balance>62700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3074181.00000000</valUSD>
        <pctVal>0.500164509975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hollysys Automation Technologies Ltd</name>
        <lei>2549008FKCB1PSUOZ583</lei>
        <title>Hollysys Automation Technologies Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="VGG456671053"/>
        </identifiers>
        <balance>51900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>773310.00000000</valUSD>
        <pctVal>0.125816344974</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Catalyst Pharmaceuticals Inc</name>
        <lei>5299004O0R5XXLA5H544</lei>
        <title>Catalyst Pharmaceuticals Inc</title>
        <cusip>14888U101</cusip>
        <identifiers>
          <isin value="US14888U1016"/>
        </identifiers>
        <balance>297100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1708325.00000000</valUSD>
        <pctVal>0.277941844186</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Luxfer Holdings PLC</name>
        <lei>21380045UF5SJYZOXE41</lei>
        <title>Luxfer Holdings PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BNK03D49"/>
        </identifiers>
        <balance>12900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>287025.00000000</valUSD>
        <pctVal>0.046698525062</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UFP Technologies Inc</name>
        <lei>549300RJ8LY41HS70C91</lei>
        <title>UFP Technologies Inc</title>
        <cusip>902673102</cusip>
        <identifiers>
          <isin value="US9026731029"/>
        </identifiers>
        <balance>36445.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2092671.90000000</valUSD>
        <pctVal>0.340474492361</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IES Holdings Inc</name>
        <lei>549300687T8E6LN6EN72</lei>
        <title>IES Holdings Inc</title>
        <cusip>44951W106</cusip>
        <identifiers>
          <isin value="US44951W1062"/>
        </identifiers>
        <balance>109100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5603376.00000000</valUSD>
        <pctVal>0.911660637825</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pason Systems Inc</name>
        <lei>984500DC6T2FLR969F65</lei>
        <title>Pason Systems Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA7029251088"/>
        </identifiers>
        <balance>202500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>1458797.19000000</valUSD>
        <pctVal>0.237344054136</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AtriCure Inc</name>
        <lei>N/A</lei>
        <title>AtriCure Inc</title>
        <cusip>04963C209</cusip>
        <identifiers>
          <isin value="US04963C2098"/>
        </identifiers>
        <balance>15000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1189950.00000000</valUSD>
        <pctVal>0.193603030740</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sharps Compliance Corp</name>
        <lei>N/A</lei>
        <title>Sharps Compliance Corp</title>
        <cusip>820017101</cusip>
        <identifiers>
          <isin value="US8200171010"/>
        </identifiers>
        <balance>124700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1284410.00000000</valUSD>
        <pctVal>0.208971527134</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Harvard Bioscience Inc</name>
        <lei>549300VLGB1D47GGC642</lei>
        <title>Harvard Bioscience Inc</title>
        <cusip>416906105</cusip>
        <identifiers>
          <isin value="US4169061052"/>
        </identifiers>
        <balance>333400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2777222.00000000</valUSD>
        <pctVal>0.451849738425</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Powerfleet Inc</name>
        <lei>N/A</lei>
        <title>Powerfleet Inc</title>
        <cusip>73931J109</cusip>
        <identifiers>
          <isin value="US73931J1097"/>
        </identifiers>
        <balance>230500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1659600.00000000</valUSD>
        <pctVal>0.270014361794</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Atento SA</name>
        <lei>N/A</lei>
        <title>Atento SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="LU2212224153"/>
        </identifiers>
        <balance>21742.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>557464.88000000</valUSD>
        <pctVal>0.090698676666</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>American Superconductor Corp</name>
        <lei>549300S9YT8Z8LOK4452</lei>
        <title>American Superconductor Corp</title>
        <cusip>030111207</cusip>
        <identifiers>
          <isin value="US0301112076"/>
        </identifiers>
        <balance>104225.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1812472.75000000</valUSD>
        <pctVal>0.294886522572</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Imdex Ltd</name>
        <lei>529900H31NX5KRKXB865</lei>
        <title>Imdex Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000IMD5"/>
        </identifiers>
        <balance>569466.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.33342200"/>
        <valUSD>871225.04000000</valUSD>
        <pctVal>0.141746971050</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mesa Laboratories Inc</name>
        <lei>549300ZCG738WLX8ZW79</lei>
        <title>Mesa Laboratories Inc</title>
        <cusip>59064R109</cusip>
        <identifiers>
          <isin value="US59064R1095"/>
        </identifiers>
        <balance>52000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14100840.00000000</valUSD>
        <pctVal>2.294184932131</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tel Aviv Stock Exchange Ltd</name>
        <lei>N/A</lei>
        <title>Tel Aviv Stock Exchange Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0011590291"/>
        </identifiers>
        <balance>343000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.26015000"/>
        <valUSD>2118927.04000000</valUSD>
        <pctVal>0.344746163168</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Silvercrest Asset Management Group Inc</name>
        <lei>N/A</lei>
        <title>Silvercrest Asset Management Group Inc</title>
        <cusip>828359109</cusip>
        <identifiers>
          <isin value="US8283591092"/>
        </identifiers>
        <balance>224100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3370464.00000000</valUSD>
        <pctVal>0.548369297367</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Theravance Biopharma Inc</name>
        <lei>5493007VTSXP4Z6MIW52</lei>
        <title>Theravance Biopharma Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG8807B1068"/>
        </identifiers>
        <balance>59009.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>856810.68000000</valUSD>
        <pctVal>0.139401776897</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Resources Connection Inc</name>
        <lei>N/A</lei>
        <title>Resources Connection Inc</title>
        <cusip>76122Q105</cusip>
        <identifiers>
          <isin value="US76122Q1058"/>
        </identifiers>
        <balance>59300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>851548.00000000</valUSD>
        <pctVal>0.138545546973</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OraSure Technologies Inc</name>
        <lei>529900GNNJPNM4XHXQ77</lei>
        <title>OraSure Technologies Inc</title>
        <cusip>68554V108</cusip>
        <identifiers>
          <isin value="US68554V1089"/>
        </identifiers>
        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>507000.00000000</valUSD>
        <pctVal>0.082488118480</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Warsaw Stock Exchange</name>
        <lei>25940039ZHD3Z37GKR71</lei>
        <title>Warsaw Stock Exchange</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="PLGPW0000017"/>
        </identifiers>
        <balance>52900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="PLN" exchangeRt="3.81300000"/>
        <valUSD>660937.84000000</valUSD>
        <pctVal>0.107533567759</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AudioEye Inc</name>
        <lei>N/A</lei>
        <title>AudioEye Inc</title>
        <cusip>050734201</cusip>
        <identifiers>
          <isin value="US0507342014"/>
        </identifiers>
        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>839500.00000000</valUSD>
        <pctVal>0.136585355945</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OptimizeRx Corp</name>
        <lei>N/A</lei>
        <title>OptimizeRx Corp</title>
        <cusip>68401U204</cusip>
        <identifiers>
          <isin value="US68401U2042"/>
        </identifiers>
        <balance>25200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1559880.00000000</valUSD>
        <pctVal>0.253790071508</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Trean Insurance Group Inc</name>
        <lei>N/A</lei>
        <title>Trean Insurance Group Inc</title>
        <cusip>89457R101</cusip>
        <identifiers>
          <isin value="US89457R1014"/>
        </identifiers>
        <balance>43300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>652964.00000000</valUSD>
        <pctVal>0.106236236282</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cantaloupe Inc</name>
        <lei>529900O54DBQQVWO9Q85</lei>
        <title>Cantaloupe Inc</title>
        <cusip>138103106</cusip>
        <identifiers>
          <isin value="US1381031061"/>
        </identifiers>
        <balance>90500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1073330.00000000</valUSD>
        <pctVal>0.174629136505</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Model N Inc</name>
        <lei>549300WCIL3W0EYSBN94</lei>
        <title>Model N Inc</title>
        <cusip>607525102</cusip>
        <identifiers>
          <isin value="US6075251024"/>
        </identifiers>
        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>856750.00000000</valUSD>
        <pctVal>0.139391904354</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Stage Stores Inc</name>
        <lei>N/A</lei>
        <title>Stage Stores Inc</title>
        <cusip>85254C305</cusip>
        <identifiers>
          <isin value="US85254C3051"/>
        </identifiers>
        <balance>15000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hallmark Financial Services Inc</name>
        <lei>549300QVZIZ17RUE4C20</lei>
        <title>Hallmark Financial Services Inc</title>
        <cusip>40624Q203</cusip>
        <identifiers>
          <isin value="US40624Q2030"/>
        </identifiers>
        <balance>114000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>507300.00000000</valUSD>
        <pctVal>0.082536928017</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Geopark Ltd</name>
        <lei>529900ZR5QI19AH4KZ07</lei>
        <title>Geopark Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG383271050"/>
        </identifiers>
        <balance>69218.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>875607.70000000</valUSD>
        <pctVal>0.142460023076</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Surmodics Inc</name>
        <lei>549300H76KXCAAGUS878</lei>
        <title>Surmodics Inc</title>
        <cusip>868873100</cusip>
        <identifiers>
          <isin value="US8688731004"/>
        </identifiers>
        <balance>85300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4627525.00000000</valUSD>
        <pctVal>0.752891184359</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cohu Inc</name>
        <lei>529900FJPORJ3JJ2XS33</lei>
        <title>Cohu Inc</title>
        <cusip>192576106</cusip>
        <identifiers>
          <isin value="US1925761066"/>
        </identifiers>
        <balance>38990.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1434442.10000000</valUSD>
        <pctVal>0.233381518536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Avid Technology Inc</name>
        <lei>549300PQGW3DXKJTQ914</lei>
        <title>Avid Technology Inc</title>
        <cusip>05367P100</cusip>
        <identifiers>
          <isin value="US05367P1003"/>
        </identifiers>
        <balance>63500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2486025.00000000</valUSD>
        <pctVal>0.404472435394</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Genasys Inc</name>
        <lei>549300W0ZVKXG9NQ7D23</lei>
        <title>Genasys Inc</title>
        <cusip>36872P103</cusip>
        <identifiers>
          <isin value="US36872P1030"/>
        </identifiers>
        <balance>38300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>209884.00000000</valUSD>
        <pctVal>0.034147803272</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Granite Construction Inc</name>
        <lei>549300OM4BWMCIXVCZ39</lei>
        <title>Granite Construction Inc</title>
        <cusip>387328107</cusip>
        <identifiers>
          <isin value="US3873281071"/>
        </identifiers>
        <balance>13500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>560655.00000000</valUSD>
        <pctVal>0.091217704273</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>QuinStreet Inc</name>
        <lei>549300TP8MFBFPOS4Y78</lei>
        <title>QuinStreet Inc</title>
        <cusip>74874Q100</cusip>
        <identifiers>
          <isin value="US74874Q1004"/>
        </identifiers>
        <balance>198600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3689988.00000000</valUSD>
        <pctVal>0.600355359634</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bristow Group Inc</name>
        <lei>5493005Q24EN3UC1PV68</lei>
        <title>Bristow Group Inc</title>
        <cusip>11040G103</cusip>
        <identifiers>
          <isin value="US11040G1031"/>
        </identifiers>
        <balance>177900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4556019.00000000</valUSD>
        <pctVal>0.741257268383</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Liberated Syndication Inc</name>
        <lei>549300QG1488DA0B5A29</lei>
        <title>Liberated Syndication Inc</title>
        <cusip>53013F100</cusip>
        <identifiers>
          <isin value="US53013F1003"/>
        </identifiers>
        <balance>98000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>382200.00000000</valUSD>
        <pctVal>0.062183350854</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Clearfield Inc</name>
        <lei>529900M4S2OQ1ADPR537</lei>
        <title>Clearfield Inc</title>
        <cusip>18482P103</cusip>
        <identifiers>
          <isin value="US18482P1030"/>
        </identifiers>
        <balance>85200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3190740.00000000</valUSD>
        <pctVal>0.519128479604</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Value Line Inc</name>
        <lei>N/A</lei>
        <title>Value Line Inc</title>
        <cusip>920437100</cusip>
        <identifiers>
          <isin value="US9204371002"/>
        </identifiers>
        <balance>74574.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2311794.00000000</valUSD>
        <pctVal>0.376125320264</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NN Inc</name>
        <lei>549300SU3TUM6VH84645</lei>
        <title>NN Inc</title>
        <cusip>629337106</cusip>
        <identifiers>
          <isin value="US6293371067"/>
        </identifiers>
        <balance>90600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>665910.00000000</valUSD>
        <pctVal>0.108342530526</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Taboola.com Ltd</name>
        <lei>N/A</lei>
        <title>Taboola.com Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0011754137"/>
        </identifiers>
        <balance>112000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1159200.00000000</valUSD>
        <pctVal>0.188600053140</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zealand Pharma A/S</name>
        <lei>549300ITBB1ULBL4CZ12</lei>
        <title>Zealand Pharma A/S</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DK0060257814"/>
        </identifiers>
        <balance>153015.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.27125000"/>
        <valUSD>4518776.64000000</valUSD>
        <pctVal>0.735197993818</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Landec Corp</name>
        <lei>549300EHBZ5OM9ND9O43</lei>
        <title>Landec Corp</title>
        <cusip>514766104</cusip>
        <identifiers>
          <isin value="US5147661046"/>
        </identifiers>
        <balance>75610.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>850612.50000000</valUSD>
        <pctVal>0.138393342565</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ituran Location and Control Ltd</name>
        <lei>N/A</lei>
        <title>Ituran Location and Control Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0010818685"/>
        </identifiers>
        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1362000.00000000</valUSD>
        <pctVal>0.221595300532</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ampco-Pittsburgh Corp</name>
        <lei>N/A</lei>
        <title>Ampco-Pittsburgh Corp</title>
        <cusip>032037103</cusip>
        <identifiers>
          <isin value="US0320371034"/>
        </identifiers>
        <balance>79002.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>479542.14000000</valUSD>
        <pctVal>0.078020766983</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GCM Grosvenor Inc</name>
        <lei>N/A</lei>
        <title>GCM Grosvenor Inc</title>
        <cusip>36831E108</cusip>
        <identifiers>
          <isin value="US36831E1082"/>
        </identifiers>
        <balance>380800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3967936.00000000</valUSD>
        <pctVal>0.645577070788</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MGP Ingredients Inc</name>
        <lei>2549006OMHFVZ4MS8538</lei>
        <title>MGP Ingredients Inc</title>
        <cusip>55303J106</cusip>
        <identifiers>
          <isin value="US55303J1060"/>
        </identifiers>
        <balance>20000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1352800.00000000</valUSD>
        <pctVal>0.220098474714</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Civeo Corp</name>
        <lei>254900H0BM0N0O4MSY43</lei>
        <title>Civeo Corp</title>
        <cusip>17878Y207</cusip>
        <identifiers>
          <isin value="CA17878Y2078"/>
        </identifiers>
        <balance>37499.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>667482.20000000</valUSD>
        <pctVal>0.108598325043</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Arcturus Therapeutics Holdings Inc</name>
        <lei>N/A</lei>
        <title>Arcturus Therapeutics Holdings Inc</title>
        <cusip>03969T109</cusip>
        <identifiers>
          <isin value="US03969T1097"/>
        </identifiers>
        <balance>79836.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2701650.24000000</valUSD>
        <pctVal>0.439554329564</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vidler Water Resouces Inc</name>
        <lei>N/A</lei>
        <title>Vidler Water Resouces Inc</title>
        <cusip>92660E107</cusip>
        <identifiers>
          <isin value="US92660E1073"/>
        </identifiers>
        <balance>121200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1611960.00000000</valUSD>
        <pctVal>0.262263407229</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tejon Ranch Co</name>
        <lei>549300TMNDO77VJ6J111</lei>
        <title>Tejon Ranch Co</title>
        <cusip>879080109</cusip>
        <identifiers>
          <isin value="US8790801091"/>
        </identifiers>
        <balance>154994.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2357458.74000000</valUSD>
        <pctVal>0.383554903071</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dorian LPG Ltd</name>
        <lei>549300WP1W2WGMC7F395</lei>
        <title>Dorian LPG Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MHY2106R1100"/>
        </identifiers>
        <balance>163138.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2303508.56000000</valUSD>
        <pctVal>0.374777291947</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wabash National Corp</name>
        <lei>5299004ZAWHQZI5XO485</lei>
        <title>Wabash National Corp</title>
        <cusip>929566107</cusip>
        <identifiers>
          <isin value="US9295661071"/>
        </identifiers>
        <balance>6400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>102400.00000000</valUSD>
        <pctVal>0.016660322154</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>StoneX Group Inc</name>
        <lei>549300JUF07L8VF02M60</lei>
        <title>StoneX Group Inc</title>
        <cusip>861896108</cusip>
        <identifiers>
          <isin value="US8618961085"/>
        </identifiers>
        <balance>69327.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4206069.09000000</valUSD>
        <pctVal>0.684320957459</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SharpSpring Inc</name>
        <lei>549300WOKT72TW5JRQ41</lei>
        <title>SharpSpring Inc</title>
        <cusip>820054104</cusip>
        <identifiers>
          <isin value="US8200541048"/>
        </identifiers>
        <balance>104700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1768383.00000000</valUSD>
        <pctVal>0.287713188209</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lindsay Corp</name>
        <lei>549300ZFO0QG5H8TPI61</lei>
        <title>Lindsay Corp</title>
        <cusip>535555106</cusip>
        <identifiers>
          <isin value="US5355551061"/>
        </identifiers>
        <balance>41600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6875648.00000000</valUSD>
        <pctVal>1.118657331069</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Barrett Business Services Inc</name>
        <lei>529900HXB6TMG0SR9Y34</lei>
        <title>Barrett Business Services Inc</title>
        <cusip>068463108</cusip>
        <identifiers>
          <isin value="US0684631080"/>
        </identifiers>
        <balance>2600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>188786.00000000</valUSD>
        <pctVal>0.030715191194</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shoe Carnival Inc</name>
        <lei>N/A</lei>
        <title>Shoe Carnival Inc</title>
        <cusip>824889109</cusip>
        <identifiers>
          <isin value="US8248891090"/>
        </identifiers>
        <balance>18216.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1304083.44000000</valUSD>
        <pctVal>0.212172365496</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Real Matters Inc</name>
        <lei>54930038CQZBR1KZYE22</lei>
        <title>Real Matters Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA75601Y1007"/>
        </identifiers>
        <balance>229500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>3310309.78000000</valUSD>
        <pctVal>0.538582298498</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>H2O Innovation Inc</name>
        <lei>254900RHUMVCQOB7LB46</lei>
        <title>H2O Innovation Inc</title>
        <cusip>443300306</cusip>
        <identifiers>
          <isin value="CA4433003064"/>
        </identifiers>
        <balance>437300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>797271.70000000</valUSD>
        <pctVal>0.129714876628</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>National Research Corp</name>
        <lei>549300FQIORB6GZCYT15</lei>
        <title>National Research Corp</title>
        <cusip>637372202</cusip>
        <identifiers>
          <isin value="US6373722023"/>
        </identifiers>
        <balance>46668.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2142061.20000000</valUSD>
        <pctVal>0.348510055340</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lawson Products Inc/DE</name>
        <lei>N/A</lei>
        <title>Lawson Products Inc/DE</title>
        <cusip>520776105</cusip>
        <identifiers>
          <isin value="US5207761058"/>
        </identifiers>
        <balance>36500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1953115.00000000</valUSD>
        <pctVal>0.317768799853</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Inspired Entertainment Inc</name>
        <lei>549300ZUGYK6NBIU6D69</lei>
        <title>Inspired Entertainment Inc</title>
        <cusip>45782N108</cusip>
        <identifiers>
          <isin value="US45782N1081"/>
        </identifiers>
        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>637500.00000000</valUSD>
        <pctVal>0.103720267319</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fixed Income Clearing Corp</name>
        <lei>549300H47WTHXPU08X20</lei>
        <title>FIXED INC CLEARING CORP.REPO</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="85748R009"/>
        </identifiers>
        <balance>20747952.97000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20747952.97000000</valUSD>
        <pctVal>3.375659966098</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <clearedCentCparty centralCounterparty="Fixed Income Clearing Corp" isCleared="Y"/>
          <isTriParty>N</isTriParty>
          <repurchaseRt>0.00000000</repurchaseRt>
          <maturityDt>2021-07-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>21149700.00000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>21162918.56250000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AutoCanada Inc</name>
        <lei>549300BPCHUK5M1WZS45</lei>
        <title>AutoCanada Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA05277B2093"/>
        </identifiers>
        <balance>440000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>17726363.34000000</valUSD>
        <pctVal>2.884051990953</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pretium Resources Inc</name>
        <lei>N/A</lei>
        <title>Pretium Resources Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA74139C1023"/>
        </identifiers>
        <balance>80000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>765408.20000000</valUSD>
        <pctVal>0.124530734294</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NV5 Global Inc</name>
        <lei>N/A</lei>
        <title>NV5 Global Inc</title>
        <cusip>62945V109</cusip>
        <identifiers>
          <isin value="US62945V1098"/>
        </identifiers>
        <balance>13400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1266434.00000000</valUSD>
        <pctVal>0.206046859643</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shyft Group Inc/The</name>
        <lei>549300YY0TB51BGRV994</lei>
        <title>Shyft Group Inc/The</title>
        <cusip>825698103</cusip>
        <identifiers>
          <isin value="US8256981031"/>
        </identifiers>
        <balance>17200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>643452.00000000</valUSD>
        <pctVal>0.104688648545</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SIFCO Industries Inc</name>
        <lei>549300DGPYFSWVYAMD66</lei>
        <title>SIFCO Industries Inc</title>
        <cusip>826546103</cusip>
        <identifiers>
          <isin value="US8265461033"/>
        </identifiers>
        <balance>45800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>461206.00000000</valUSD>
        <pctVal>0.075037505269</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EZCORP Inc</name>
        <lei>5493003K6PG3ZQ7TUQ63</lei>
        <title>EZCORP Inc</title>
        <cusip>302301106</cusip>
        <identifiers>
          <isin value="US3023011063"/>
        </identifiers>
        <balance>201000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1212030.00000000</valUSD>
        <pctVal>0.197195412705</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Power Solutions International Inc</name>
        <lei>549300JWGWDXC70SNH31</lei>
        <title>Power Solutions International Inc</title>
        <cusip>73933G202</cusip>
        <identifiers>
          <isin value="US73933G2021"/>
        </identifiers>
        <balance>21100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>128710.00000000</valUSD>
        <pctVal>0.020940918598</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OrthoPediatrics Corp</name>
        <lei>5493000KUTPFGOPAT717</lei>
        <title>OrthoPediatrics Corp</title>
        <cusip>68752L100</cusip>
        <identifiers>
          <isin value="US68752L1008"/>
        </identifiers>
        <balance>6500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>410670.00000000</valUSD>
        <pctVal>0.066815375968</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dorchester Minerals LP</name>
        <lei>529900J537JTEZOMXG05</lei>
        <title>Dorchester Minerals LP</title>
        <cusip>25820R105</cusip>
        <identifiers>
          <isin value="US25820R1059"/>
        </identifiers>
        <balance>153963.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2594276.55000000</valUSD>
        <pctVal>0.422084795713</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NVE Corp</name>
        <lei>5299003C1ATTWX8X0112</lei>
        <title>NVE Corp</title>
        <cusip>629445206</cusip>
        <identifiers>
          <isin value="US6294452064"/>
        </identifiers>
        <balance>14400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1066320.00000000</valUSD>
        <pctVal>0.173488620311</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Manning &amp; Napier Inc</name>
        <lei>N/A</lei>
        <title>Manning &amp; Napier Inc</title>
        <cusip>56382Q102</cusip>
        <identifiers>
          <isin value="US56382Q1022"/>
        </identifiers>
        <balance>136600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1075042.00000000</valUSD>
        <pctVal>0.174907676266</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AstroNova Inc</name>
        <lei>549300D8PFP62QX00223</lei>
        <title>AstroNova Inc</title>
        <cusip>04638F108</cusip>
        <identifiers>
          <isin value="US04638F1084"/>
        </identifiers>
        <balance>114600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1595232.00000000</valUSD>
        <pctVal>0.259541787415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Marcus &amp; Millichap Inc</name>
        <lei>549300B2HE8ULXNB1N48</lei>
        <title>Marcus &amp; Millichap Inc</title>
        <cusip>566324109</cusip>
        <identifiers>
          <isin value="US5663241090"/>
        </identifiers>
        <balance>4900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>190463.00000000</valUSD>
        <pctVal>0.030988036509</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>YGM Trading Ltd</name>
        <lei>N/A</lei>
        <title>YGM Trading Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="HK0375001663"/>
        </identifiers>
        <balance>2564600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.76430000"/>
        <valUSD>677128.65000000</valUSD>
        <pctVal>0.110167787588</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shore Bancshares Inc</name>
        <lei>N/A</lei>
        <title>Shore Bancshares Inc</title>
        <cusip>825107105</cusip>
        <identifiers>
          <isin value="US8251071051"/>
        </identifiers>
        <balance>29100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>487425.00000000</valUSD>
        <pctVal>0.079303296154</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MeiraGTx Holdings plc</name>
        <lei>54930007YV6NYIOGFZ57</lei>
        <title>MeiraGTx Holdings plc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG596651029"/>
        </identifiers>
        <balance>114400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1773200.00000000</valUSD>
        <pctVal>0.288496906684</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hurco Cos Inc</name>
        <lei>XSC5XDOTBYOBQPOG2O82</lei>
        <title>Hurco Cos Inc</title>
        <cusip>447324104</cusip>
        <identifiers>
          <isin value="US4473241044"/>
        </identifiers>
        <balance>36866.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1290310.00000000</valUSD>
        <pctVal>0.209931448039</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RealNetworks Inc</name>
        <lei>0TCB85ZKZQTTX9T8EV22</lei>
        <title>RealNetworks Inc</title>
        <cusip>75605L708</cusip>
        <identifiers>
          <isin value="US75605L7082"/>
        </identifiers>
        <balance>100171.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>233398.43000000</valUSD>
        <pctVal>0.037973564786</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Innovative Solutions and Support Inc</name>
        <lei>N/A</lei>
        <title>Innovative Solutions and Support Inc</title>
        <cusip>45769N105</cusip>
        <identifiers>
          <isin value="US45769N1054"/>
        </identifiers>
        <balance>78828.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>494251.56000000</valUSD>
        <pctVal>0.080413966943</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cavco Industries Inc</name>
        <lei>N/A</lei>
        <title>Cavco Industries Inc</title>
        <cusip>149568107</cusip>
        <identifiers>
          <isin value="US1495681074"/>
        </identifiers>
        <balance>8600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1910834.00000000</valUSD>
        <pctVal>0.310889746327</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Insteel Industries Inc</name>
        <lei>52990026LKY4MOX3L174</lei>
        <title>Insteel Industries Inc</title>
        <cusip>45774W108</cusip>
        <identifiers>
          <isin value="US45774W1080"/>
        </identifiers>
        <balance>44200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1421030.00000000</valUSD>
        <pctVal>0.231199390540</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alpha &amp; Omega Semiconductor Ltd</name>
        <lei>5493001FE7J03YOV2V35</lei>
        <title>Alpha &amp; Omega Semiconductor Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG6331P1041"/>
        </identifiers>
        <balance>17900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>543981.00000000</valUSD>
        <pctVal>0.088504870175</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Patrick Industries Inc</name>
        <lei>549300FZ5ZTCCJ3Z5W14</lei>
        <title>Patrick Industries Inc</title>
        <cusip>703343103</cusip>
        <identifiers>
          <isin value="US7033431039"/>
        </identifiers>
        <balance>17250.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1259250.00000000</valUSD>
        <pctVal>0.204878033917</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>American Software Inc/GA</name>
        <lei>N/A</lei>
        <title>American Software Inc/GA</title>
        <cusip>029683109</cusip>
        <identifiers>
          <isin value="US0296831094"/>
        </identifiers>
        <balance>80252.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1762333.92000000</valUSD>
        <pctVal>0.286729012218</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ultra Clean Holdings Inc</name>
        <lei>5493007L6LS7QX18PE75</lei>
        <title>Ultra Clean Holdings Inc</title>
        <cusip>90385V107</cusip>
        <identifiers>
          <isin value="US90385V1070"/>
        </identifiers>
        <balance>72200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3878584.00000000</valUSD>
        <pctVal>0.631039638121</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OneSpan Inc</name>
        <lei>549300D67QDZG593UX89</lei>
        <title>OneSpan Inc</title>
        <cusip>68287N100</cusip>
        <identifiers>
          <isin value="US68287N1000"/>
        </identifiers>
        <balance>5600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>143024.00000000</valUSD>
        <pctVal>0.023269784334</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Universal Technical Institute Inc</name>
        <lei>2549003YOJGAZ0PVFV48</lei>
        <title>Universal Technical Institute Inc</title>
        <cusip>913915104</cusip>
        <identifiers>
          <isin value="US9139151040"/>
        </identifiers>
        <balance>445000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2888050.00000000</valUSD>
        <pctVal>0.469881283189</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Optiva Inc</name>
        <lei>N/A</lei>
        <title>Optiva Inc</title>
        <cusip>68403N307</cusip>
        <identifiers>
          <isin value="CA68403N3076"/>
        </identifiers>
        <balance>28000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>607615.36000000</valUSD>
        <pctVal>0.098858082457</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Profound Medical Corp</name>
        <lei>N/A</lei>
        <title>Profound Medical Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA74319B5027"/>
        </identifiers>
        <balance>85800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>1397468.54000000</valUSD>
        <pctVal>0.227365977317</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Global Water Resources Inc</name>
        <lei>N/A</lei>
        <title>Global Water Resources Inc</title>
        <cusip>379463102</cusip>
        <identifiers>
          <isin value="US3794631024"/>
        </identifiers>
        <balance>106000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1810480.00000000</valUSD>
        <pctVal>0.294562305219</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tile Shop Holdings Inc</name>
        <lei>549300Q3SS4FSW01UE50</lei>
        <title>Tile Shop Holdings Inc</title>
        <cusip>88677Q109</cusip>
        <identifiers>
          <isin value="US88677Q1094"/>
        </identifiers>
        <balance>76700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>617435.00000000</valUSD>
        <pctVal>0.100455722749</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IMAX Corp</name>
        <lei>5493002KS2T1Q0X7VZ21</lei>
        <title>IMAX Corp</title>
        <cusip>45245E109</cusip>
        <identifiers>
          <isin value="CA45245E1097"/>
        </identifiers>
        <balance>186600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4011900.00000000</valUSD>
        <pctVal>0.652729945820</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cerberus Telecom Acquisition Corp</name>
        <lei>N/A</lei>
        <title>Cerberus Telecom Acquisition Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG2040C1042"/>
        </identifiers>
        <balance>164400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1632492.00000000</valUSD>
        <pctVal>0.265603931980</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RMR Group Inc/The</name>
        <lei>549300JP4L34E48UJM16</lei>
        <title>RMR Group Inc/The</title>
        <cusip>74967R106</cusip>
        <identifiers>
          <isin value="US74967R1068"/>
        </identifiers>
        <balance>75400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2913456.00000000</valUSD>
        <pctVal>0.474014800226</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EVI Industries Inc</name>
        <lei>549300RU296J63VW0297</lei>
        <title>EVI Industries Inc</title>
        <cusip>26929N102</cusip>
        <identifiers>
          <isin value="US26929N1028"/>
        </identifiers>
        <balance>217709.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6182935.60000000</valUSD>
        <pctVal>1.005954091377</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Silicon Motion Technology Corp</name>
        <lei>5299005RBVBZQJTYFC89</lei>
        <title>Silicon Motion Technology Corp</title>
        <cusip>82706C108</cusip>
        <identifiers>
          <isin value="US82706C1080"/>
        </identifiers>
        <balance>4700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>301270.00000000</valUSD>
        <pctVal>0.049016164604</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Titan International Inc</name>
        <lei>N/A</lei>
        <title>Titan International Inc</title>
        <cusip>88830M102</cusip>
        <identifiers>
          <isin value="US88830M1027"/>
        </identifiers>
        <balance>212200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1799456.00000000</valUSD>
        <pctVal>0.292768717412</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AXT Inc</name>
        <lei>549300M2142IVLVIJN37</lei>
        <title>AXT Inc</title>
        <cusip>00246W103</cusip>
        <identifiers>
          <isin value="US00246W1036"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1098000.00000000</valUSD>
        <pctVal>0.178642907477</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Luna Innovations Inc</name>
        <lei>N/A</lei>
        <title>Luna Innovations Inc</title>
        <cusip>550351100</cusip>
        <identifiers>
          <isin value="US5503511009"/>
        </identifiers>
        <balance>491478.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5322706.74000000</valUSD>
        <pctVal>0.865996181863</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BlueLinx Holdings Inc</name>
        <lei>549300YSX7GU28F5I540</lei>
        <title>BlueLinx Holdings Inc</title>
        <cusip>09624H208</cusip>
        <identifiers>
          <isin value="US09624H2085"/>
        </identifiers>
        <balance>28000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1407840.00000000</valUSD>
        <pctVal>0.229053397872</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Midway Investments Ltd</name>
        <lei>N/A</lei>
        <title>MIDWAY INVESTMENTS LTD USD 0.001 CLASS A</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="962LJQ904"/>
        </identifiers>
        <balance>735647.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72290900"/>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Magnite Inc</name>
        <lei>54930018FR2YX1HHSB02</lei>
        <title>Magnite Inc</title>
        <cusip>55955D100</cusip>
        <identifiers>
          <isin value="US55955D1000"/>
        </identifiers>
        <balance>206900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7001496.00000000</valUSD>
        <pctVal>1.139132606680</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tabula Rasa HealthCare Inc</name>
        <lei>549300K6KY242XRMEF28</lei>
        <title>Tabula Rasa HealthCare Inc</title>
        <cusip>873379101</cusip>
        <identifiers>
          <isin value="US8733791011"/>
        </identifiers>
        <balance>38400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1920000.00000000</valUSD>
        <pctVal>0.312381040398</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GAN Ltd</name>
        <lei>N/A</lei>
        <title>GAN Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG3728V1090"/>
        </identifiers>
        <balance>44700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>734868.00000000</valUSD>
        <pctVal>0.119561890831</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>E2open Parent Holdings Inc</name>
        <lei>N/A</lei>
        <title>E2open Parent Holdings Inc</title>
        <cusip>29788T103</cusip>
        <identifiers>
          <isin value="US29788T1034"/>
        </identifiers>
        <balance>112200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1281324.00000000</valUSD>
        <pctVal>0.208469439691</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Radius Global Infrastructure Inc</name>
        <lei>213800NT341MQ5USBX63</lei>
        <title>Radius Global Infrastructure Inc</title>
        <cusip>750481103</cusip>
        <identifiers>
          <isin value="US7504811032"/>
        </identifiers>
        <balance>79192.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1148284.00000000</valUSD>
        <pctVal>0.186824036767</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mitek Systems Inc</name>
        <lei>549300ABZAQ3R25XG118</lei>
        <title>Mitek Systems Inc</title>
        <cusip>606710200</cusip>
        <identifiers>
          <isin value="US6067102003"/>
        </identifiers>
        <balance>63200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1217232.00000000</valUSD>
        <pctVal>0.198041770086</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Uni-Select Inc</name>
        <lei>549300GQ1WI8PKN1NQ40</lei>
        <title>Uni-Select Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA90457D1006"/>
        </identifiers>
        <balance>40000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>529525.65000000</valUSD>
        <pctVal>0.086153007012</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Westport Fuel Systems Inc</name>
        <lei>549300ZBKJ4TMPXRB502</lei>
        <title>Westport Fuel Systems Inc</title>
        <cusip>960908309</cusip>
        <identifiers>
          <isin value="CA9609083097"/>
        </identifiers>
        <balance>412500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2190375.00000000</valUSD>
        <pctVal>0.356370636126</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Acme United Corp</name>
        <lei>549300NVT8NN13WP8M83</lei>
        <title>Acme United Corp</title>
        <cusip>004816104</cusip>
        <identifiers>
          <isin value="US0048161048"/>
        </identifiers>
        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1114000.00000000</valUSD>
        <pctVal>0.181246082814</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Construction Partners Inc</name>
        <lei>549300G4ICXJKQN32X70</lei>
        <title>Construction Partners Inc</title>
        <cusip>21044C107</cusip>
        <identifiers>
          <isin value="US21044C1071"/>
        </identifiers>
        <balance>84900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2665860.00000000</valUSD>
        <pctVal>0.433731312685</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Infrastructure and Energy Alternatives Inc</name>
        <lei>549300CZ3FQ7JWXZHD54</lei>
        <title>Infrastructure and Energy Alternatives Inc</title>
        <cusip>45686J104</cusip>
        <identifiers>
          <isin value="US45686J1043"/>
        </identifiers>
        <balance>275100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3537786.00000000</valUSD>
        <pctVal>0.575592328847</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Echo Global Logistics Inc</name>
        <lei>549300WRZ9Y84GWVYR04</lei>
        <title>Echo Global Logistics Inc</title>
        <cusip>27875T101</cusip>
        <identifiers>
          <isin value="US27875T1016"/>
        </identifiers>
        <balance>20000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>614800.00000000</valUSD>
        <pctVal>0.100027012310</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hims &amp; Hers Health Inc</name>
        <lei>549300ZQ4ZUYSAAX6P59</lei>
        <title>Hims &amp; Hers Health Inc</title>
        <cusip>433000106</cusip>
        <identifiers>
          <isin value="US4330001060"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2178000.00000000</valUSD>
        <pctVal>0.354357242702</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CubicFarm Systems Corp</name>
        <lei>N/A</lei>
        <title>CubicFarm Systems Corp</title>
        <cusip>22968P108</cusip>
        <identifiers>
          <isin value="CA22968P1080"/>
        </identifiers>
        <balance>400000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>458212.33000000</valUSD>
        <pctVal>0.074550439775</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Axcelis Technologies Inc</name>
        <lei>529900HF9B6NL1QG9F05</lei>
        <title>Axcelis Technologies Inc</title>
        <cusip>054540208</cusip>
        <identifiers>
          <isin value="US0545402085"/>
        </identifiers>
        <balance>5400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>218268.00000000</valUSD>
        <pctVal>0.035511867148</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Larimar Therapeutics Inc</name>
        <lei>529900NCBZHTTJV6HX73</lei>
        <title>Larimar Therapeutics Inc</title>
        <cusip>517125100</cusip>
        <identifiers>
          <isin value="US5171251003"/>
        </identifiers>
        <balance>28064.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>275588.48000000</valUSD>
        <pctVal>0.044837820887</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Franklin Covey Co</name>
        <lei>N/A</lei>
        <title>Franklin Covey Co</title>
        <cusip>353469109</cusip>
        <identifiers>
          <isin value="US3534691098"/>
        </identifiers>
        <balance>40100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1297235.00000000</valUSD>
        <pctVal>0.211058134865</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HarborOne Bancorp Inc</name>
        <lei>549300CNOEY2QUB7F917</lei>
        <title>HarborOne Bancorp Inc</title>
        <cusip>41165Y100</cusip>
        <identifiers>
          <isin value="US41165Y1001"/>
        </identifiers>
        <balance>35100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>503334.00000000</valUSD>
        <pctVal>0.081891665931</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Utah Medical Products Inc</name>
        <lei>5493002R27BBGV8DID60</lei>
        <title>Utah Medical Products Inc</title>
        <cusip>917488108</cusip>
        <identifiers>
          <isin value="US9174881089"/>
        </identifiers>
        <balance>31350.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2666004.00000000</valUSD>
        <pctVal>0.433754741263</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PC Connection Inc</name>
        <lei>5299005WPRNIXDV2KM73</lei>
        <title>PC Connection Inc</title>
        <cusip>69318J100</cusip>
        <identifiers>
          <isin value="US69318J1007"/>
        </identifiers>
        <balance>14000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>647780.00000000</valUSD>
        <pctVal>0.105392807473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HyreCar Inc</name>
        <lei>549300Y900ZKQQLV6S25</lei>
        <title>HyreCar Inc</title>
        <cusip>44916T107</cusip>
        <identifiers>
          <isin value="US44916T1079"/>
        </identifiers>
        <balance>108000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2259360.00000000</valUSD>
        <pctVal>0.367594389288</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CPI Aerostructures Inc</name>
        <lei>549300C471OFZGCOHS09</lei>
        <title>CPI Aerostructures Inc</title>
        <cusip>125919308</cusip>
        <identifiers>
          <isin value="US1259193084"/>
        </identifiers>
        <balance>189700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>673435.00000000</valUSD>
        <pctVal>0.109566836427</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Algoma Central Corp</name>
        <lei>5493002QOPYX7P96FG25</lei>
        <title>Algoma Central Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA0156441077"/>
        </identifiers>
        <balance>40000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>529202.97000000</valUSD>
        <pctVal>0.086100507474</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Graham Corp</name>
        <lei>254900EI9P4LTY524J77</lei>
        <title>Graham Corp</title>
        <cusip>384556106</cusip>
        <identifiers>
          <isin value="US3845561063"/>
        </identifiers>
        <balance>149850.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2061936.00000000</valUSD>
        <pctVal>0.335473808809</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dundee Corp</name>
        <lei>549300LX18ZNW1LEMU13</lei>
        <title>Dundee Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA2649011095"/>
        </identifiers>
        <balance>413200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>523333.33000000</valUSD>
        <pctVal>0.085145526094</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASA Gold and Precious Metals Ltd</name>
        <lei>254900VOUR4617HGCL14</lei>
        <title>ASA Gold and Precious Metals Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG3156P1032"/>
        </identifiers>
        <balance>171150.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3691705.50000000</valUSD>
        <pctVal>0.600634794236</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Matrix Service Co</name>
        <lei>529900VYBKSX6HD2YW58</lei>
        <title>Matrix Service Co</title>
        <cusip>576853105</cusip>
        <identifiers>
          <isin value="US5768531056"/>
        </identifiers>
        <balance>8200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>86100.00000000</valUSD>
        <pctVal>0.014008337280</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Major Drilling Group International Inc</name>
        <lei>549300O1MNHCX2FUBC21</lei>
        <title>Major Drilling Group International Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA5609091031"/>
        </identifiers>
        <balance>1204084.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>8324459.41000000</valUSD>
        <pctVal>1.354376714193</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Covenant Logistics Group Inc</name>
        <lei>N/A</lei>
        <title>Covenant Logistics Group Inc</title>
        <cusip>22284P105</cusip>
        <identifiers>
          <isin value="US22284P1057"/>
        </identifiers>
        <balance>55900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1156012.00000000</valUSD>
        <pctVal>0.188081370454</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lifetime Brands Inc</name>
        <lei>549300GS38DC0OHLYK32</lei>
        <title>Lifetime Brands Inc</title>
        <cusip>53222Q103</cusip>
        <identifiers>
          <isin value="US53222Q1031"/>
        </identifiers>
        <balance>119294.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1785831.18000000</valUSD>
        <pctVal>0.290551980200</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lindblad Expeditions Holdings Inc</name>
        <lei>549300GSPW24GZE6R597</lei>
        <title>Lindblad Expeditions Holdings Inc</title>
        <cusip>535219109</cusip>
        <identifiers>
          <isin value="US5352191093"/>
        </identifiers>
        <balance>320968.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5138697.68000000</valUSD>
        <pctVal>0.836058191443</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SunOpta Inc</name>
        <lei>54930010CP0KEPPRPA40</lei>
        <title>SunOpta Inc</title>
        <cusip>8676EP108</cusip>
        <identifiers>
          <isin value="CA8676EP1086"/>
        </identifiers>
        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>612000.00000000</valUSD>
        <pctVal>0.099571456627</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Park Lawn Corp</name>
        <lei>549300GTA10BQTRS3J10</lei>
        <title>Park Lawn Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA7005632087"/>
        </identifiers>
        <balance>50000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>1344788.64000000</valUSD>
        <pctVal>0.218795038791</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Quanterix Corp</name>
        <lei>N/A</lei>
        <title>Quanterix Corp</title>
        <cusip>74766Q101</cusip>
        <identifiers>
          <isin value="US74766Q1013"/>
        </identifiers>
        <balance>111700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6552322.00000000</valUSD>
        <pctVal>1.066052689263</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chembio Diagnostics Inc</name>
        <lei>N/A</lei>
        <title>Chembio Diagnostics Inc</title>
        <cusip>163572209</cusip>
        <identifiers>
          <isin value="US1635722093"/>
        </identifiers>
        <balance>135800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>403326.00000000</valUSD>
        <pctVal>0.065620518489</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Primo Water Corp</name>
        <lei>5493005TMUI9D3MY9I37</lei>
        <title>Primo Water Corp</title>
        <cusip>74167P108</cusip>
        <identifiers>
          <isin value="CA74167P1080"/>
        </identifiers>
        <balance>26791.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>448213.43000000</valUSD>
        <pctVal>0.072923634158</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Barings BDC Inc</name>
        <lei>549300GSF4KFZP6ONG49</lei>
        <title>Barings BDC Inc</title>
        <cusip>06759L103</cusip>
        <identifiers>
          <isin value="US06759L1035"/>
        </identifiers>
        <balance>215300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2273568.00000000</valUSD>
        <pctVal>0.369906008987</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Richardson Electronics Ltd/United States</name>
        <lei>N/A</lei>
        <title>Richardson Electronics Ltd/United States</title>
        <cusip>763165107</cusip>
        <identifiers>
          <isin value="US7631651079"/>
        </identifiers>
        <balance>316900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2633439.00000000</valUSD>
        <pctVal>0.428456465961</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CareDx Inc</name>
        <lei>549300NQOFKL9NON0U06</lei>
        <title>CareDx Inc</title>
        <cusip>14167L103</cusip>
        <identifiers>
          <isin value="US14167L1035"/>
        </identifiers>
        <balance>18900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1729728.00000000</valUSD>
        <pctVal>0.281424079295</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Acacia Research Corp</name>
        <lei>529900BCN7BE6ESPDZ72</lei>
        <title>Acacia Research Corp</title>
        <cusip>003881307</cusip>
        <identifiers>
          <isin value="US0038813079"/>
        </identifiers>
        <balance>190000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1284400.00000000</valUSD>
        <pctVal>0.208969900149</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FormFactor Inc</name>
        <lei>549300YCEEO6SZD1ZR61</lei>
        <title>FormFactor Inc</title>
        <cusip>346375108</cusip>
        <identifiers>
          <isin value="US3463751087"/>
        </identifiers>
        <balance>22869.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>833803.74000000</valUSD>
        <pctVal>0.135658583223</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>L B Foster Co</name>
        <lei>549300AUUJGJ2T2L2179</lei>
        <title>L B Foster Co</title>
        <cusip>350060109</cusip>
        <identifiers>
          <isin value="US3500601097"/>
        </identifiers>
        <balance>95300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1776392.00000000</valUSD>
        <pctVal>0.289016240164</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HBT Financial Inc</name>
        <lei>549300NTXD4Q6UK5BY66</lei>
        <title>HBT Financial Inc</title>
        <cusip>404111106</cusip>
        <identifiers>
          <isin value="US4041111067"/>
        </identifiers>
        <balance>46300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>806083.00000000</valUSD>
        <pctVal>0.131148461556</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chemung Financial Corp</name>
        <lei>N/A</lei>
        <title>Chemung Financial Corp</title>
        <cusip>164024101</cusip>
        <identifiers>
          <isin value="US1640241014"/>
        </identifiers>
        <balance>31000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1373610.00000000</valUSD>
        <pctVal>0.223484229636</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Photronics Inc</name>
        <lei>549300OK5JVNIBNY6F63</lei>
        <title>Photronics Inc</title>
        <cusip>719405102</cusip>
        <identifiers>
          <isin value="US7194051022"/>
        </identifiers>
        <balance>240800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3180968.00000000</valUSD>
        <pctVal>0.517538590267</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ORBCOMM Inc</name>
        <lei>529900PSC8WVCY267I23</lei>
        <title>ORBCOMM Inc</title>
        <cusip>68555P100</cusip>
        <identifiers>
          <isin value="US68555P1003"/>
        </identifiers>
        <balance>65000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>730600.00000000</valUSD>
        <pctVal>0.118867493809</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Agilysys Inc</name>
        <lei>5299001XWB5V3B5IPN93</lei>
        <title>Agilysys Inc</title>
        <cusip>00847J105</cusip>
        <identifiers>
          <isin value="US00847J1051"/>
        </identifiers>
        <balance>96100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5465207.00000000</valUSD>
        <pctVal>0.889180754506</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fabrinet</name>
        <lei>5493004TETZ6IYF7CV44</lei>
        <title>Fabrinet</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG3323L1005"/>
        </identifiers>
        <balance>2200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>210914.00000000</valUSD>
        <pctVal>0.034315382684</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Apyx Medical Corp</name>
        <lei>5299009QZVYUYO082S45</lei>
        <title>Apyx Medical Corp</title>
        <cusip>03837C106</cusip>
        <identifiers>
          <isin value="US03837C1062"/>
        </identifiers>
        <balance>35800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>369098.00000000</valUSD>
        <pctVal>0.060051675650</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Altius Minerals Corp</name>
        <lei>54930083UJGDUCMJMU61</lei>
        <title>Altius Minerals Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA0209361009"/>
        </identifiers>
        <balance>113000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>1552428.20000000</valUSD>
        <pctVal>0.252577675135</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OP Bancorp</name>
        <lei>549300LTYZMS0Q13U522</lei>
        <title>OP Bancorp</title>
        <cusip>67109R109</cusip>
        <identifiers>
          <isin value="US67109R1095"/>
        </identifiers>
        <balance>45700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>459742.00000000</valUSD>
        <pctVal>0.074799314726</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lazydays Holdings Inc</name>
        <lei>5493006PPWVM3TDVJH23</lei>
        <title>Lazydays Holdings Inc</title>
        <cusip>52110H100</cusip>
        <identifiers>
          <isin value="US52110H1005"/>
        </identifiers>
        <balance>30000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>660000.00000000</valUSD>
        <pctVal>0.107380982636</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Century Casinos Inc</name>
        <lei>549300H2L4Y24HXY7M50</lei>
        <title>Century Casinos Inc</title>
        <cusip>156492100</cusip>
        <identifiers>
          <isin value="US1564921005"/>
        </identifiers>
        <balance>303300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4073319.00000000</valUSD>
        <pctVal>0.662722722445</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>StealthGas Inc</name>
        <lei>549300JCJUO3WBVVKJ89</lei>
        <title>StealthGas Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MHY816691064"/>
        </identifiers>
        <balance>229664.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>649949.12000000</valUSD>
        <pctVal>0.105745719954</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aspen Group Inc/CO</name>
        <lei>N/A</lei>
        <title>Aspen Group Inc/CO</title>
        <cusip>04530L203</cusip>
        <identifiers>
          <isin value="US04530L2034"/>
        </identifiers>
        <balance>141520.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>922710.40000000</valUSD>
        <pctVal>0.150123559759</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Atlas Air Worldwide Holdings Inc</name>
        <lei>549300R0A2TUVCYZB465</lei>
        <title>Atlas Air Worldwide Holdings Inc</title>
        <cusip>049164205</cusip>
        <identifiers>
          <isin value="US0491642056"/>
        </identifiers>
        <balance>10000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>681100.00000000</valUSD>
        <pctVal>0.110813920112</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>nLight Inc</name>
        <lei>N/A</lei>
        <title>nLight Inc</title>
        <cusip>65487K100</cusip>
        <identifiers>
          <isin value="US65487K1007"/>
        </identifiers>
        <balance>306100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11105308.00000000</valUSD>
        <pctVal>1.806816493221</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Team Inc</name>
        <lei>549300DEKHQ3OEQJWU96</lei>
        <title>Team Inc</title>
        <cusip>878155100</cusip>
        <identifiers>
          <isin value="US8781551002"/>
        </identifiers>
        <balance>93300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>625110.00000000</valUSD>
        <pctVal>0.101704433418</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Transcat Inc</name>
        <lei>54930081E40TSSHUOS40</lei>
        <title>Transcat Inc</title>
        <cusip>893529107</cusip>
        <identifiers>
          <isin value="US8935291075"/>
        </identifiers>
        <balance>162207.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9166317.57000000</valUSD>
        <pctVal>1.491345739135</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Waterloo Investment Holdings</name>
        <lei>213800TZIK14GMV2YL02</lei>
        <title>WATERLOO INVESTMENT HOLDINGS COMMON STOCK</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="VGG946341051"/>
        </identifiers>
        <balance>806000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>201500.00000000</valUSD>
        <pctVal>0.032783739395</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ichor Holdings Ltd</name>
        <lei>529900PS8R2JVLJ2H892</lei>
        <title>Ichor Holdings Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG4740B1059"/>
        </identifiers>
        <balance>25700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1382660.00000000</valUSD>
        <pctVal>0.224956650686</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Novanta Inc</name>
        <lei>N/A</lei>
        <title>Novanta Inc</title>
        <cusip>67000B104</cusip>
        <identifiers>
          <isin value="CA67000B1040"/>
        </identifiers>
        <balance>3400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>458184.00000000</valUSD>
        <pctVal>0.074545830528</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>B Riley Financial Inc</name>
        <lei>N/A</lei>
        <title>B Riley Financial Inc</title>
        <cusip>05580M108</cusip>
        <identifiers>
          <isin value="US05580M1080"/>
        </identifiers>
        <balance>24700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1864850.00000000</valUSD>
        <pctVal>0.303408220409</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Great Elm Group Inc</name>
        <lei>N/A</lei>
        <title>Great Elm Group Inc</title>
        <cusip>39037G109</cusip>
        <identifiers>
          <isin value="US39037G1094"/>
        </identifiers>
        <balance>566700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1269408.00000000</valUSD>
        <pctVal>0.206530724859</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Repro-Med Systems Inc</name>
        <lei>N/A</lei>
        <title>Repro-Med Systems Inc</title>
        <cusip>759910102</cusip>
        <identifiers>
          <isin value="US7599101026"/>
        </identifiers>
        <balance>193300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>894979.00000000</valUSD>
        <pctVal>0.145611703726</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Seneca Foods Corp</name>
        <lei>N/A</lei>
        <title>Seneca Foods Corp</title>
        <cusip>817070501</cusip>
        <identifiers>
          <isin value="US8170705011"/>
        </identifiers>
        <balance>81087.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4141923.96000000</valUSD>
        <pctVal>0.673884643685</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PDF Solutions Inc</name>
        <lei>549300GMSP6MROFBI160</lei>
        <title>PDF Solutions Inc</title>
        <cusip>693282105</cusip>
        <identifiers>
          <isin value="US6932821050"/>
        </identifiers>
        <balance>189500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3445110.00000000</valUSD>
        <pctVal>0.560514086503</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Misonix Inc</name>
        <lei>N/A</lei>
        <title>Misonix Inc</title>
        <cusip>604871103</cusip>
        <identifiers>
          <isin value="US6048711039"/>
        </identifiers>
        <balance>95500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2118190.00000000</valUSD>
        <pctVal>0.344626247896</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Computer Modelling Group Ltd</name>
        <lei>N/A</lei>
        <title>Computer Modelling Group Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA2052491057"/>
        </identifiers>
        <balance>594875.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>2452251.73000000</valUSD>
        <pctVal>0.398977576425</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Intevac Inc</name>
        <lei>N/A</lei>
        <title>Intevac Inc</title>
        <cusip>461148108</cusip>
        <identifiers>
          <isin value="US4611481080"/>
        </identifiers>
        <balance>539400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3635556.00000000</valUSD>
        <pctVal>0.591499357139</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Computer Task Group Inc</name>
        <lei>N/A</lei>
        <title>Computer Task Group Inc</title>
        <cusip>205477102</cusip>
        <identifiers>
          <isin value="US2054771025"/>
        </identifiers>
        <balance>84800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>820016.00000000</valUSD>
        <pctVal>0.133415339178</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bolsa Mexicana de Valores SAB de CV</name>
        <lei>894500CS2D6RLGW61A19</lei>
        <title>Bolsa Mexicana de Valores SAB de CV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MX01BM1B0000"/>
        </identifiers>
        <balance>1068000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="19.93400000"/>
        <valUSD>2357379.35000000</valUSD>
        <pctVal>0.383541986441</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Navigator Holdings Ltd</name>
        <lei>213800H7RVOFYARK2W19</lei>
        <title>Navigator Holdings Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MHY621321089"/>
        </identifiers>
        <balance>175000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1916250.00000000</valUSD>
        <pctVal>0.311770921178</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Monarch Cement Co/The</name>
        <lei>N/A</lei>
        <title>Monarch Cement Co/The</title>
        <cusip>609031307</cusip>
        <identifiers>
          <isin value="US6090313072"/>
        </identifiers>
        <balance>8150.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>912800.00000000</valUSD>
        <pctVal>0.148511152956</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Powell Industries Inc</name>
        <lei>549300V08RO7MX2UBN26</lei>
        <title>Powell Industries Inc</title>
        <cusip>739128106</cusip>
        <identifiers>
          <isin value="US7391281067"/>
        </identifiers>
        <balance>21400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>662330.00000000</valUSD>
        <pctVal>0.107760070045</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brooks Automation Inc</name>
        <lei>35ZN6X1ANPH25YN32Y17</lei>
        <title>Brooks Automation Inc</title>
        <cusip>114340102</cusip>
        <identifiers>
          <isin value="US1143401024"/>
        </identifiers>
        <balance>37800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3601584.00000000</valUSD>
        <pctVal>0.585972165105</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>John B Sanfilippo &amp; Son Inc</name>
        <lei>5299007IBEYVXKYDUX28</lei>
        <title>John B Sanfilippo &amp; Son Inc</title>
        <cusip>800422107</cusip>
        <identifiers>
          <isin value="US8004221078"/>
        </identifiers>
        <balance>7900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>699703.00000000</valUSD>
        <pctVal>0.113840599536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CIRCOR International Inc</name>
        <lei>5493007701O01N3FQM69</lei>
        <title>CIRCOR International Inc</title>
        <cusip>17273K109</cusip>
        <identifiers>
          <isin value="US17273K1097"/>
        </identifiers>
        <balance>220421.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7185724.60000000</valUSD>
        <pctVal>1.169106315919</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ooma Inc</name>
        <lei>N/A</lei>
        <title>Ooma Inc</title>
        <cusip>683416101</cusip>
        <identifiers>
          <isin value="US6834161019"/>
        </identifiers>
        <balance>57000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1075020.00000000</valUSD>
        <pctVal>0.174904096900</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Caribbean Investment Holdings Ltd</name>
        <lei>5493000UN857P963UK78</lei>
        <title>Caribbean Investment Holdings Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="VGG1991M1032"/>
        </identifiers>
        <balance>475635.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72290900"/>
        <valUSD>213832.42000000</valUSD>
        <pctVal>0.034790205120</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vishay Precision Group Inc</name>
        <lei>N/A</lei>
        <title>Vishay Precision Group Inc</title>
        <cusip>92835K103</cusip>
        <identifiers>
          <isin value="US92835K1034"/>
        </identifiers>
        <balance>41800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1422872.00000000</valUSD>
        <pctVal>0.231499081101</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Joint Corp/The</name>
        <lei>N/A</lei>
        <title>Joint Corp/The</title>
        <cusip>47973J102</cusip>
        <identifiers>
          <isin value="US47973J1025"/>
        </identifiers>
        <balance>88384.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7417185.28000000</valUSD>
        <pctVal>1.206764611768</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TriState Capital Holdings Inc</name>
        <lei>5493003JKSPN0881WX29</lei>
        <title>TriState Capital Holdings Inc</title>
        <cusip>89678F100</cusip>
        <identifiers>
          <isin value="US89678F1003"/>
        </identifiers>
        <balance>42800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>872692.00000000</valUSD>
        <pctVal>0.141985643180</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Upland Software Inc</name>
        <lei>549300NS277POYJ63W89</lei>
        <title>Upland Software Inc</title>
        <cusip>91544A109</cusip>
        <identifiers>
          <isin value="US91544A1097"/>
        </identifiers>
        <balance>148200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6101394.00000000</valUSD>
        <pctVal>0.992687398750</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MasterCraft Boat Holdings Inc</name>
        <lei>549300IXWX41555YJ117</lei>
        <title>MasterCraft Boat Holdings Inc</title>
        <cusip>57637H103</cusip>
        <identifiers>
          <isin value="US57637H1032"/>
        </identifiers>
        <balance>14800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>389092.00000000</valUSD>
        <pctVal>0.063304668630</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hackett Group Inc/The</name>
        <lei>5K016KLIRB6156644289</lei>
        <title>Hackett Group Inc/The</title>
        <cusip>404609109</cusip>
        <identifiers>
          <isin value="US4046091090"/>
        </identifiers>
        <balance>27700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>499154.00000000</valUSD>
        <pctVal>0.081211586374</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ardmore Shipping Corp</name>
        <lei>549300J8HD7K6BHD8O28</lei>
        <title>Ardmore Shipping Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MHY0207T1001"/>
        </identifiers>
        <balance>90500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>381910.00000000</valUSD>
        <pctVal>0.062136168301</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LSI Industries Inc</name>
        <lei>529900HY42OANH6BVT33</lei>
        <title>LSI Industries Inc</title>
        <cusip>50216C108</cusip>
        <identifiers>
          <isin value="US50216C1080"/>
        </identifiers>
        <balance>415740.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3330077.40000000</valUSD>
        <pctVal>0.541798459801</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Clarkson PLC</name>
        <lei>2138007G6BGTEHI3OT22</lei>
        <title>Clarkson PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0002018363"/>
        </identifiers>
        <balance>98900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72290900"/>
        <valUSD>4364186.92000000</valUSD>
        <pctVal>0.710046484668</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Virgin Galactic Holdings Inc</name>
        <lei>N/A</lei>
        <title>Virgin Galactic Holdings Inc</title>
        <cusip>92766K106</cusip>
        <identifiers>
          <isin value="US92766K1060"/>
        </identifiers>
        <balance>102850.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4731100.00000000</valUSD>
        <pctVal>0.769742677202</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ECN Capital Corp</name>
        <lei>549300E2G773NN59KY61</lei>
        <title>ECN Capital Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA26829L1076"/>
        </identifiers>
        <balance>556000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>4171345.60000000</valUSD>
        <pctVal>0.678671499161</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>comScore Inc</name>
        <lei>N/A</lei>
        <title>comScore Inc</title>
        <cusip>20564W105</cusip>
        <identifiers>
          <isin value="US20564W1053"/>
        </identifiers>
        <balance>297195.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1485975.00000000</valUSD>
        <pctVal>0.241765841930</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>US Global Investors Inc</name>
        <lei>529900IRM26R91LI8531</lei>
        <title>US Global Investors Inc</title>
        <cusip>902952100</cusip>
        <identifiers>
          <isin value="US9029521005"/>
        </identifiers>
        <balance>439454.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2720220.26000000</valUSD>
        <pctVal>0.442575643193</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ameresco Inc</name>
        <lei>529900NZXZGBCBXYY327</lei>
        <title>Ameresco Inc</title>
        <cusip>02361E108</cusip>
        <identifiers>
          <isin value="US02361E1082"/>
        </identifiers>
        <balance>94400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5920768.00000000</valUSD>
        <pctVal>0.963299826978</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Quanex Building Products Corp</name>
        <lei>5493000TL30VL5WOAW87</lei>
        <title>Quanex Building Products Corp</title>
        <cusip>747619104</cusip>
        <identifiers>
          <isin value="US7476191041"/>
        </identifiers>
        <balance>9900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>245916.00000000</valUSD>
        <pctVal>0.040010154130</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FARO Technologies Inc</name>
        <lei>529900MFEFNOFP3YR823</lei>
        <title>FARO Technologies Inc</title>
        <cusip>311642102</cusip>
        <identifiers>
          <isin value="US3116421021"/>
        </identifiers>
        <balance>65200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5070604.00000000</valUSD>
        <pctVal>0.824979454671</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>International Money Express Inc</name>
        <lei>N/A</lei>
        <title>International Money Express Inc</title>
        <cusip>46005L101</cusip>
        <identifiers>
          <isin value="US46005L1017"/>
        </identifiers>
        <balance>20000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>297000.00000000</valUSD>
        <pctVal>0.048321442186</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Universal Logistics Holdings Inc</name>
        <lei>N/A</lei>
        <title>Universal Logistics Holdings Inc</title>
        <cusip>91388P105</cusip>
        <identifiers>
          <isin value="US91388P1057"/>
        </identifiers>
        <balance>75200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1752160.00000000</valUSD>
        <pctVal>0.285073731117</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Atrion Corp</name>
        <lei>N/A</lei>
        <title>Atrion Corp</title>
        <cusip>049904105</cusip>
        <identifiers>
          <isin value="US0499041053"/>
        </identifiers>
        <balance>4689.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2911540.77000000</valUSD>
        <pctVal>0.473703195257</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Digi International Inc</name>
        <lei>529900KG656HGROI4N27</lei>
        <title>Digi International Inc</title>
        <cusip>253798102</cusip>
        <identifiers>
          <isin value="US2537981027"/>
        </identifiers>
        <balance>71600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1439876.00000000</valUSD>
        <pctVal>0.234265605690</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Donnelley Financial Solutions Inc</name>
        <lei>549300O1NPY4J56QCU04</lei>
        <title>Donnelley Financial Solutions Inc</title>
        <cusip>25787G100</cusip>
        <identifiers>
          <isin value="US25787G1004"/>
        </identifiers>
        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1650000.00000000</valUSD>
        <pctVal>0.268452456592</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Northwest Pipe Co</name>
        <lei>54930056VW2CRCZ9RE54</lei>
        <title>Northwest Pipe Co</title>
        <cusip>667746101</cusip>
        <identifiers>
          <isin value="US6677461013"/>
        </identifiers>
        <balance>59400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1678050.00000000</valUSD>
        <pctVal>0.273016148354</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TerraVest Industries Inc</name>
        <lei>N/A</lei>
        <title>TerraVest Industries Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA88105G1037"/>
        </identifiers>
        <balance>237800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>3725456.60000000</valUSD>
        <pctVal>0.606126046181</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Amtech Systems Inc</name>
        <lei>5299008VRUUPETM6HZ85</lei>
        <title>Amtech Systems Inc</title>
        <cusip>032332504</cusip>
        <identifiers>
          <isin value="US0323325045"/>
        </identifiers>
        <balance>92184.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>888653.76000000</valUSD>
        <pctVal>0.144582596928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Westaim Corp/The</name>
        <lei>549300TSCVMK1W6GSK84</lei>
        <title>Westaim Corp/The</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA9569093037"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>1076960.31000000</valUSD>
        <pctVal>0.175219782346</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chicken Soup For The Soul Entertainment Inc</name>
        <lei>549300THRJ0EJ1DIID72</lei>
        <title>Chicken Soup For The Soul Entertainment Inc</title>
        <cusip>16842Q100</cusip>
        <identifiers>
          <isin value="US16842Q1004"/>
        </identifiers>
        <balance>219130.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9071982.00000000</valUSD>
        <pctVal>1.475997487310</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Clarus Corp</name>
        <lei>549300PKSLI6PT0ULL72</lei>
        <title>Clarus Corp</title>
        <cusip>18270P109</cusip>
        <identifiers>
          <isin value="US18270P1093"/>
        </identifiers>
        <balance>140603.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3613497.10000000</valUSD>
        <pctVal>0.587910408112</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Postal Realty Trust Inc</name>
        <lei>5493007B7ZZSIJRGWC41</lei>
        <title>Postal Realty Trust Inc</title>
        <cusip>73757R102</cusip>
        <identifiers>
          <isin value="US73757R1023"/>
        </identifiers>
        <balance>114000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2079360.00000000</valUSD>
        <pctVal>0.338308666751</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brigham Minerals Inc</name>
        <lei>549300IQ6JCXW59RO175</lei>
        <title>Brigham Minerals Inc</title>
        <cusip>10918L103</cusip>
        <identifiers>
          <isin value="US10918L1035"/>
        </identifiers>
        <balance>220000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4683800.00000000</valUSD>
        <pctVal>0.762047040113</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Altus Group Ltd/Canada</name>
        <lei>54930041VO1EIY4IV355</lei>
        <title>Altus Group Ltd/Canada</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA02215R1073"/>
        </identifiers>
        <balance>87000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>4032066.80000000</valUSD>
        <pctVal>0.656011053093</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cross Country Healthcare Inc</name>
        <lei>54930037L0NBIPZ5S663</lei>
        <title>Cross Country Healthcare Inc</title>
        <cusip>227483104</cusip>
        <identifiers>
          <isin value="US2274831047"/>
        </identifiers>
        <balance>130800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2159508.00000000</valUSD>
        <pctVal>0.351348622806</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CyberOptics Corp</name>
        <lei>52HQVAW3POG1MULTHE15</lei>
        <title>CyberOptics Corp</title>
        <cusip>232517102</cusip>
        <identifiers>
          <isin value="US2325171021"/>
        </identifiers>
        <balance>64900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2658304.00000000</valUSD>
        <pctVal>0.432501963133</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Virginia National Bankshares Corp</name>
        <lei>5493005LXSLNF92BF097</lei>
        <title>Virginia National Bankshares Corp</title>
        <cusip>928031103</cusip>
        <identifiers>
          <isin value="US9280311039"/>
        </identifiers>
        <balance>89910.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3496599.90000000</valUSD>
        <pctVal>0.568891413864</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aspen Aerogels Inc</name>
        <lei>N/A</lei>
        <title>Aspen Aerogels Inc</title>
        <cusip>04523Y105</cusip>
        <identifiers>
          <isin value="US04523Y1055"/>
        </identifiers>
        <balance>175885.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5262479.20000000</valUSD>
        <pctVal>0.856197253943</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Semler Scientific Inc</name>
        <lei>549300ZHL16S29QTW485</lei>
        <title>Semler Scientific Inc</title>
        <cusip>81684M104</cusip>
        <identifiers>
          <isin value="US81684M1045"/>
        </identifiers>
        <balance>22400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2504096.00000000</valUSD>
        <pctVal>0.407412559238</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SEACOR Marine Holdings Inc</name>
        <lei>5493003LNKFW1W43N030</lei>
        <title>SEACOR Marine Holdings Inc</title>
        <cusip>78413P101</cusip>
        <identifiers>
          <isin value="US78413P1012"/>
        </identifiers>
        <balance>216957.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>956780.37000000</valUSD>
        <pctVal>0.155666691361</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sabine Royalty Trust</name>
        <lei>N/A</lei>
        <title>Sabine Royalty Trust</title>
        <cusip>785688102</cusip>
        <identifiers>
          <isin value="US7856881021"/>
        </identifiers>
        <balance>82648.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3332367.36000000</valUSD>
        <pctVal>0.542171032764</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alamos Gold Inc</name>
        <lei>549300TDOX73YGYXE959</lei>
        <title>Alamos Gold Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA0115321089"/>
        </identifiers>
        <balance>261044.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>1994261.60000000</valUSD>
        <pctVal>0.324463288247</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TransAct Technologies Inc</name>
        <lei>N/A</lei>
        <title>TransAct Technologies Inc</title>
        <cusip>892918103</cusip>
        <identifiers>
          <isin value="US8929181035"/>
        </identifiers>
        <balance>40900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>561557.00000000</valUSD>
        <pctVal>0.091364458282</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Trupanion Inc</name>
        <lei>549300J86GFKIDGMQP18</lei>
        <title>Trupanion Inc</title>
        <cusip>898202106</cusip>
        <identifiers>
          <isin value="US8982021060"/>
        </identifiers>
        <balance>50070.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5763057.00000000</valUSD>
        <pctVal>0.937640490383</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rayonier Advanced Materials Inc</name>
        <lei>54930053QJ7OUGZG4F72</lei>
        <title>Rayonier Advanced Materials Inc</title>
        <cusip>75508B104</cusip>
        <identifiers>
          <isin value="US75508B1044"/>
        </identifiers>
        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>334500.00000000</valUSD>
        <pctVal>0.054422634381</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CryoLife Inc</name>
        <lei>549300YTKV8DMSMG6K81</lei>
        <title>CryoLife Inc</title>
        <cusip>228903100</cusip>
        <identifiers>
          <isin value="US2289031005"/>
        </identifiers>
        <balance>15200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>431680.00000000</valUSD>
        <pctVal>0.070233670582</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Eagle Bulk Shipping Inc</name>
        <lei>549300EC4INNZBWR8W37</lei>
        <title>Eagle Bulk Shipping Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MHY2187A1507"/>
        </identifiers>
        <balance>81428.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3853172.96000000</valUSD>
        <pctVal>0.626905301083</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CarParts.com Inc</name>
        <lei>5493005FSRX4Y7E7H678</lei>
        <title>CarParts.com Inc</title>
        <cusip>14427M107</cusip>
        <identifiers>
          <isin value="US14427M1071"/>
        </identifiers>
        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1018000.00000000</valUSD>
        <pctVal>0.165627030794</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Legacy Housing Corp</name>
        <lei>N/A</lei>
        <title>Legacy Housing Corp</title>
        <cusip>52472M101</cusip>
        <identifiers>
          <isin value="US52472M1018"/>
        </identifiers>
        <balance>144900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2450259.00000000</valUSD>
        <pctVal>0.398653362325</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Neoleukin Therapeutics Inc</name>
        <lei>N/A</lei>
        <title>Neoleukin Therapeutics Inc</title>
        <cusip>64049K104</cusip>
        <identifiers>
          <isin value="US64049K1043"/>
        </identifiers>
        <balance>145397.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1342014.31000000</valUSD>
        <pctVal>0.218343659576</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sebang Global Battery Co Ltd</name>
        <lei>N/A</lei>
        <title>Sebang Global Battery Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KR7004490009"/>
        </identifiers>
        <balance>50500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1126.15000000"/>
        <valUSD>4349775.78000000</valUSD>
        <pctVal>0.707701814404</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Barnes &amp; Noble Education Inc</name>
        <lei>549300JQGDS5THBPED41</lei>
        <title>Barnes &amp; Noble Education Inc</title>
        <cusip>06777U101</cusip>
        <identifiers>
          <isin value="US06777U1016"/>
        </identifiers>
        <balance>80000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>576800.00000000</valUSD>
        <pctVal>0.093844470886</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gaia Inc</name>
        <lei>529900QUX8SBA2D93M92</lei>
        <title>Gaia Inc</title>
        <cusip>36269P104</cusip>
        <identifiers>
          <isin value="US36269P1049"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1099000.00000000</valUSD>
        <pctVal>0.178805605936</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Standard Motor Products Inc</name>
        <lei>THGK1EO5B5HK0JHQVZ90</lei>
        <title>Standard Motor Products Inc</title>
        <cusip>853666105</cusip>
        <identifiers>
          <isin value="US8536661056"/>
        </identifiers>
        <balance>47460.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2057391.00000000</valUSD>
        <pctVal>0.334734344315</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Canaccord Genuity Group Inc</name>
        <lei>5493002DR5KW4JP7YS87</lei>
        <title>Canaccord Genuity Group Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA1348011091"/>
        </identifiers>
        <balance>203300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>2227181.35000000</valUSD>
        <pctVal>0.362358972536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ACE Convergence Acquisition Corp</name>
        <lei>N/A</lei>
        <title>ACE Convergence Acquisition Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG0083D1209"/>
        </identifiers>
        <balance>157800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1570899.00000000</valUSD>
        <pctVal>0.255582845823</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bryn Mawr Bank Corp</name>
        <lei>4NOIGQXI7NPP6IUQF087</lei>
        <title>Bryn Mawr Bank Corp</title>
        <cusip>117665109</cusip>
        <identifiers>
          <isin value="US1176651099"/>
        </identifiers>
        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1054750.00000000</valUSD>
        <pctVal>0.171606199146</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>J G Boswell Co</name>
        <lei>549300F07JHRNLXLEC77</lei>
        <title>J G Boswell Co</title>
        <cusip>101205102</cusip>
        <identifiers>
          <isin value="US1012051025"/>
        </identifiers>
        <balance>2490.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2016402.00000000</valUSD>
        <pctVal>0.328065497198</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CNB Financial Corp/PA</name>
        <lei>254900RUYUOKD91VNX69</lei>
        <title>CNB Financial Corp/PA</title>
        <cusip>126128107</cusip>
        <identifiers>
          <isin value="US1261281075"/>
        </identifiers>
        <balance>20600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>470092.00000000</valUSD>
        <pctVal>0.076483243772</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Digital Turbine Inc</name>
        <lei>549300D0WZR1VI2QGB24</lei>
        <title>Digital Turbine Inc</title>
        <cusip>25400W102</cusip>
        <identifiers>
          <isin value="US25400W1027"/>
        </identifiers>
        <balance>89700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6819891.00000000</valUSD>
        <pctVal>1.109585753116</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sandstorm Gold Ltd</name>
        <lei>549300QWJPV45VQF1B33</lei>
        <title>Sandstorm Gold Ltd</title>
        <cusip>80013R206</cusip>
        <identifiers>
          <isin value="CA80013R2063"/>
        </identifiers>
        <balance>810000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6390900.00000000</valUSD>
        <pctVal>1.039789578689</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Haynes International Inc</name>
        <lei>549300I9MS5UZLRFDO40</lei>
        <title>Haynes International Inc</title>
        <cusip>420877201</cusip>
        <identifiers>
          <isin value="US4208772016"/>
        </identifiers>
        <balance>84400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2986072.00000000</valUSD>
        <pctVal>0.485829311492</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sprott Inc</name>
        <lei>254900QHJAD5TP2JNM15</lei>
        <title>Sprott Inc</title>
        <cusip>852066208</cusip>
        <identifiers>
          <isin value="CA8520662088"/>
        </identifiers>
        <balance>176453.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>6945096.70000000</valUSD>
        <pctVal>1.129956527507</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ClearPoint Neuro Inc</name>
        <lei>N/A</lei>
        <title>ClearPoint Neuro Inc</title>
        <cusip>18507C103</cusip>
        <identifiers>
          <isin value="US18507C1036"/>
        </identifiers>
        <balance>90900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1735281.00000000</valUSD>
        <pctVal>0.282327543835</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>QAD Inc</name>
        <lei>N/A</lei>
        <title>QAD Inc</title>
        <cusip>74727D306</cusip>
        <identifiers>
          <isin value="US74727D3061"/>
        </identifiers>
        <balance>4662.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>405687.24000000</valUSD>
        <pctVal>0.066004688597</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Olympic Steel Inc</name>
        <lei>549300GQ061U6N6KWJ49</lei>
        <title>Olympic Steel Inc</title>
        <cusip>68162K106</cusip>
        <identifiers>
          <isin value="US68162K1060"/>
        </identifiers>
        <balance>35000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1028650.00000000</valUSD>
        <pctVal>0.167359769378</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fiera Capital Corp</name>
        <lei>549300KJAKQN5OEO4N05</lei>
        <title>Fiera Capital Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA31660A1030"/>
        </identifiers>
        <balance>78000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>684607.94000000</valUSD>
        <pctVal>0.111384656542</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Onto Innovation Inc</name>
        <lei>254900RXZVN73CHOO062</lei>
        <title>Onto Innovation Inc</title>
        <cusip>683344105</cusip>
        <identifiers>
          <isin value="US6833441057"/>
        </identifiers>
        <balance>127550.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9316252.00000000</valUSD>
        <pctVal>1.515739839778</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Burnham Holdings Inc</name>
        <lei>549300VHOKZIOWQUFV59</lei>
        <title>Burnham Holdings Inc</title>
        <cusip>122295108</cusip>
        <identifiers>
          <isin value="US1222951089"/>
        </identifiers>
        <balance>117000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1616940.00000000</valUSD>
        <pctVal>0.263073645553</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PAR Technology Corp</name>
        <lei>549300HYPTHBJQINVG57</lei>
        <title>PAR Technology Corp</title>
        <cusip>698884103</cusip>
        <identifiers>
          <isin value="US6988841036"/>
        </identifiers>
        <balance>268924.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18808544.56000000</valUSD>
        <pctVal>3.060121207309</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Knight Therapeutics Inc</name>
        <lei>549300LNW93V3HRS7610</lei>
        <title>Knight Therapeutics Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA4990531069"/>
        </identifiers>
        <balance>187000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.23960000"/>
        <valUSD>791989.35000000</valUSD>
        <pctVal>0.128855446425</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Forrester Research Inc</name>
        <lei>549300UUSFXYLJ80Z897</lei>
        <title>Forrester Research Inc</title>
        <cusip>346563109</cusip>
        <identifiers>
          <isin value="US3465631097"/>
        </identifiers>
        <balance>45900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2102220.00000000</valUSD>
        <pctVal>0.342027953513</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CSW Industrials Inc</name>
        <lei>549300SYOEO3RVQ7FB83</lei>
        <title>CSW Industrials Inc</title>
        <cusip>126402106</cusip>
        <identifiers>
          <isin value="US1264021064"/>
        </identifiers>
        <balance>20000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2369200.00000000</valUSD>
        <pctVal>0.385465187975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Encore Wire Corp</name>
        <lei>N/A</lei>
        <title>Encore Wire Corp</title>
        <cusip>292562105</cusip>
        <identifiers>
          <isin value="US2925621052"/>
        </identifiers>
        <balance>3307.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>250637.53000000</valUSD>
        <pctVal>0.040778339783</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Unrealized gain or loss on foreign income receivables and payables are not included when applicable" noteItem="B.5.d"/>
      <explntrNote note="Security Litigation and gains or losses on FX Currency and Gains from Advisor are currently excluded from the gain or loss calculations when applicable." noteItem="B.5.d"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2021-07-26</ncom:dateSigned>
      <ncom:nameOfApplicant>ROYCE MICRO-CAP TRUST, INC.</ncom:nameOfApplicant>
      <ncom:signature>John Schwartz</ncom:signature>
      <ncom:signerName>John Schwartz</ncom:signerName>
      <ncom:title>Associate General Counsel</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
