| COLUMN 1 | COLUMN 2 | COLUMN 3 | COLUMN 4 | COLUMN 5 | COLUMN 6 | COLUMN 7 | COLUMN 8 |
| | | VALUE | SHRS OR | SH/ | PUT/ | INVESTMENT | OTHER | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | (x$1000) | PRN AMT | PRN | CALL | DISCRETION | MANAGER | SOLE | SHARED | NONE |
| ACME UTD CORP | COM | 004816104 | 4,191,271 | 119,512 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 119,512 |
| ADAMS RES & ENERGY INC | COM NEW | 006351308 | 307,860 | 10,995 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 10,995 |
| AIRGAIN INC | COM | 00938A104 | 991,648 | 164,180 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 164,180 |
| ALICO INC | COM | 016230104 | 1,398,653 | 53,878 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 53,878 |
| A-MARK PRECIOUS METALS INC | COM | 00181T107 | 3,010,896 | 93,015 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 93,015 |
| AMERIS BANCORP | COM | 03076K108 | 612,502 | 12,129 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 12,129 |
| AMPLITECH GROUP INC | *W EXP 02/26/202 | 03211Q119 | 3,284 | 85,065 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 85,065 |
| AMPLITECH GROUP INC | COM NEW | 03211Q200 | 440,601 | 419,620 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 419,620 |
| ARCHROCK INC | COM | 03957W106 | 4,818,022 | 238,280 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 238,280 |
| ARES CAPITAL CORP | COM | 04010L103 | 463,795 | 22,255 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 22,255 |
| ARES COML REAL ESTATE CORP | COM | 04013V108 | 831,132 | 120,528 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 120,528 |
| ARROWMARK FINANCIAL CORP | COM | 861780104 | 785,516 | 42,610 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 42,610 |
| ASURE SOFTWARE INC | COM | 04649U102 | 1,154,732 | 137,468 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 137,468 |
| ATOMERA INC | COM | 04965B100 | 663,798 | 174,225 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 174,225 |
| AVINO SILVER & GOLD MINES LT | COM | 053906103 | 695,340 | 772,599 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 772,599 |
| BALCHEM CORP | COM | 057665200 | 694,315 | 4,510 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 4,510 |
| BARINGS BDC INC | COM | 06759L103 | 691,317 | 71,050 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 71,050 |
| BEAM GLOBAL | COM | 07373B109 | 261,065 | 56,630 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 56,630 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 | 1,434,784 | 3,527 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 3,527 |
| BIOCERES CROP SOLUTIONS CORP | SHS | G1117K114 | 222,519 | 19,850 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 19,850 |
| BIOFRONTERA INC | *W EXP 10/27/202 | 09077D118 | 6,315 | 179,900 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 179,900 |
| BK TECHNOLOGIES CORPORATION | COM NEW | 05587G203 | 1,824,986 | 142,577 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 142,577 |
| BLACKSTONE SECD LENDING FD | COMMON STOCK | 09261X102 | 3,065,328 | 97,744 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 97,744 |
| BLUE OWL CAPITAL CORPORATION | COM | 69121K104 | 1,151,039 | 73,210 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 73,210 |
| BRAEMAR HOTELS & RESORTS INC | COM | 10482B101 | 834,514 | 320,990 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 320,990 |
| BRT APARTMENTS CORP | COM | 055645303 | 2,142,161 | 120,952 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 120,952 |
| CALAMOS GLOBAL TOTAL RETURN | COM SH BEN INT | 128118106 | 157,613 | 14,225 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 14,225 |
| CAPITAL SOUTHWEST CORP | COM | 140501107 | 474,317 | 18,180 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 18,180 |
| CARETRUST REIT INC | COM | 14174T107 | 809,758 | 31,905 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 31,905 |
| CARRIAGE SVCS INC | COM | 143905107 | 3,002,350 | 111,861 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 111,861 |
| CEA INDUSTRIES INC | *W EXP 02/11/202 | 86887P119 | 3,495 | 232,975 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 232,975 |
| CEA INDUSTRIES INC | COM | 86887P309 | 124,196 | 18,509 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 18,509 |
| CECO ENVIRONMENTAL CORP | COM | 125141101 | 244,216 | 8,465 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 8,465 |
| CELSIUS HLDGS INC | COM NEW | 15118V207 | 2,785,992 | 48,800 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 48,800 |
| CLEARFIELD INC | COM | 18482P103 | 442,631 | 11,479 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 11,479 |
| COHERENT CORP | COM | 19247G107 | 6,760,518 | 93,300 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 93,300 |
| COMPOSECURE INC | COM CL A | 20459V105 | 2,062,372 | 303,290 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 303,290 |
| CONCRETE PUMPING HLDGS INC | COM | 206704108 | 471,785 | 78,500 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 78,500 |
| CREXENDO INC | COM | 226552107 | 1,913,566 | 608,447 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 608,447 |
| CROWN CRAFTS INC | COM | 228309100 | 864,245 | 162,747 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 162,747 |
| DATA I O CORP | COM | 237690102 | 70,173 | 25,425 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 25,425 |
| DATA STORAGE CORP | *W EXP 05/18/202 | 23786R110 | 233,352 | 160,932 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 160,932 |
| DATA STORAGE CORP | COM NEW | 23786R201 | 2,030,996 | 309,603 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 309,603 |
| DOLPHIN ENTMT INC | COM NEW | 25686H209 | 355,857 | 377,767 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 377,767 |
| DUOS TECHNOLOGIES GROUP INC | COM | 266042407 | 1,162,084 | 406,323 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 406,323 |
| EAGLE POINT CREDIT COMPANY I | COM | 269808101 | 2,370,356 | 235,856 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 235,856 |
| EAGLE POINT INCOME COMPANY I | COM | 269817102 | 1,961,965 | 124,175 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 124,175 |
| EASTERLY GOVT PPTYS INC | COM | 27616P103 | 2,214,849 | 179,050 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 179,050 |
| EDIBLE GARDEN AG INC | *W EXP 99/99/999 | 28059P113 | 2,093 | 158,525 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 158,525 |
| ENSIGN GROUP INC | COM | 29358P101 | 11,451,850 | 92,541 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 92,541 |
| EQUINOX GOLD CORP | COM | 29446Y502 | 2,424,602 | 463,595 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 463,595 |
| EVOLUTION PETE CORP | COM | 30049A107 | 1,234,324 | 234,217 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 234,217 |
| FARMLAND PARTNERS INC | COM | 31154R109 | 2,510,992 | 217,779 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 217,779 |
| FLAHERTY & CRUMRINE PFD SECS | COM | 338478100 | 798,927 | 54,018 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 54,018 |
| FRANCO NEV CORP | COM | 351858105 | 1,381,008 | 11,652 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 11,652 |
| FS KKR CAP CORP | COM | 302635206 | 3,519,989 | 172,415 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 172,415 |
| FTAI INFRASTRUCTURE INC | COMMON STOCK | 35953C106 | 10,103,961 | 1,170,795 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 1,170,795 |
| FULL HSE RESORTS INC | COM | 359678109 | 180,875 | 36,175 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 36,175 |
| GEN RESTAURENT GROUP | CL A COM | 36870C104 | 1,564,844 | 172,720 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 172,720 |
| GLADSTONE LD CORP | COM | 376549101 | 2,133,144 | 155,818 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 155,818 |
| GLOBAL MED REIT INC | COM NEW | 37954A204 | 173,180 | 18,647 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 18,647 |
| GLOBAL SELF STORAGE INC | COM | 37955N106 | 3,233,081 | 665,243 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 665,243 |
| GLOBAL WTR RES INC | COM | 379463102 | 2,060,050 | 170,252 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 170,252 |
| GLOBAL X FDS | US INFR DEV ETF | 37954Y673 | 748,450 | 20,175 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 20,175 |
| HANNON ARMSTRONG SUST INFR C | COM | 41068X100 | 495,031 | 16,724 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 16,724 |
| HARROW INC | COM | 415858109 | 1,434,726 | 68,680 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 68,680 |
| HARVARD BIOSCIENCE INC | COM | 416906105 | 846,436 | 296,995 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 296,995 |
| HENRY JACK & ASSOC INC | COM | 426281101 | 896,508 | 5,400 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 5,400 |
| HUDBAY MINERALS INC | COM | 443628102 | 484,854 | 53,575 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 53,575 |
| IDEX CORP | COM | 45167R104 | 1,378,220 | 6,850 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 6,850 |
| INDEPENDENCE RLTY TR INC | COM | 45378A106 | 2,551,213 | 135,036 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 135,036 |
| INFUSYSTEM HLDGS INC | COM | 45685K102 | 389,993 | 57,100 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 57,100 |
| INTELLINETICS INC | COM | 45825X204 | 688,928 | 107,645 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 107,645 |
| INTEST CORP | COM | 461147100 | 1,927,243 | 195,065 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 195,065 |
| INUVO INC | COM NEW | 46122W204 | 1,015,664 | 3,955,077 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 3,955,077 |
| INVESCO EXCH TRADED FD TR II | S&P SMLCP UTIL | 46138G409 | 2,532,446 | 50,568 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 50,568 |
| ISHARES SILVER TR | ISHARES | 46428Q109 | 1,010,962 | 38,049 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 38,049 |
| ISHARES TR | TIPS BD ETF | 464287176 | 264,815 | 2,480 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 2,480 |
| ISHARES TR | RESIDENTIAL MULT | 464288562 | 274,010 | 3,559 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 3,559 |
| ISHARES TR | FLTG RATE NT ETF | 46429B655 | 317,532 | 6,215 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 6,215 |
| ISHARES TR | MSCI INDIA SM CP | 46429B614 | 390,246 | 4,825 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 4,825 |
| ISSUER DIRECT CORP | COM NEW | 46520M204 | 919,317 | 117,185 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 117,185 |
| ITERIS INC NEW | COM | 46564T107 | 1,521,645 | 351,419 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 351,419 |
| J & J SNACK FOODS CORP | COM | 466032109 | 293,589 | 1,800 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 1,800 |
| JAPAN SMALLER CAPITALIZATION | COM | 47109U104 | 520,845 | 68,713 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 68,713 |
| JOINT CORP | COM | 47973J102 | 1,201,203 | 85,434 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 85,434 |
| KAYNE ANDERSON ENERGY INFRST | COM | 486606106 | 286,605 | 27,171 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 27,171 |
| KINGSWAY FINL SVCS INC | COM NEW | 496904202 | 2,358,824 | 286,265 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 286,265 |
| KORU MEDICAL SYSTEMS INC | COM | 759910102 | 69,987 | 26,410 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 26,410 |
| KRATOS DEFENSE & SEC SOLUTIO | COM NEW | 50077B207 | 1,974,447 | 98,673 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 98,673 |
| LEGACY HOUSING CORP | COM | 52472M101 | 4,495,415 | 195,964 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 195,964 |
| LGL GROUP INC | COM | 50186A108 | 2,843,743 | 529,561 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 529,561 |
| LXP INDUSTRIAL TRUST | COM | 529043101 | 342,643 | 37,044 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 37,044 |
| MAMAS CREATIONS INC | COM | 56146T103 | 5,517,695 | 818,649 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 818,649 |
| MANHATTAN BRDG CAP INC | COM | 562803106 | 1,894,949 | 368,667 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 368,667 |
| MARTEN TRANS LTD | COM | 573075108 | 510,254 | 27,656 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 27,656 |
| MILLER INDS INC TENN | COM NEW | 600551204 | 915,533 | 16,640 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 16,640 |
| MOBILICOM LTD | *W EXP 08/31/202 | 60742B110 | 23,916 | 197,649 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 197,649 |
| MOBILICOM LTD | SPON ADS | 60742B102 | 212,063 | 219,799 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 219,799 |
| MODIV INDUSTRIAL INC | COM STK CL C | 60784B101 | 1,522,059 | 106,940 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 106,940 |
| MODULAR MED INC | COM NEW | 60785L207 | 1,274,428 | 806,600 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 806,600 |
| M-TRON INDS INC | COM | 55380K109 | 3,149,958 | 89,462 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 89,462 |
| MULTISENSOR AI HOLDINGS INC | COM | 456948108 | 1,172,600 | 715,000 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 715,000 |
| NANO DIMENSION LTD | SPONSORD ADS NEW | 63008G203 | 275,000 | 125,000 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 125,000 |
| NEOGENOMICS INC | COM NEW | 64049M209 | 662,501 | 47,765 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 47,765 |
| NEPHROS INC | COM | 640671400 | 370,508 | 175,596 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 175,596 |
| NETCAPITAL INC | *W EXP 07/12/202 | 64113L111 | 4,350 | 218,573 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 218,573 |
| NETCAPITAL INC | COM | 64113L103 | 122,433 | 1,122,208 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 1,122,208 |
| NEW MTN FIN CORP | COM | 647551100 | 357,078 | 29,173 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 29,173 |
| NEWMONT CORP | COM | 651639106 | 747,509 | 17,853 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 17,853 |
| NEWTEKONE INC | COM NEW | 652526203 | 1,543,237 | 122,771 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 122,771 |
| NEXTERA ENERGY INC | COM | 65339F101 | 1,379,308 | 19,479 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 19,479 |
| NUZEE INC | COM | 67073S307 | 178,848 | 111,780 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 111,780 |
| OIL DRI CORP AMER | COM | 677864100 | 3,715,041 | 57,966 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 57,966 |
| ONE STOP SYS INC | COM | 68247W109 | 2,493,620 | 1,034,697 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 1,034,697 |
| OSISKO GOLD ROYALTIES LTD | COM | 68827L101 | 3,390,652 | 216,980 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 216,980 |
| OXFORD LANE CAP CORP | COM | 691543102 | 348,057 | 64,217 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 64,217 |
| PACER FDS TR | INDUSTRIAL RELET | 69374H766 | 251,613 | 6,618 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 6,618 |
| PEMBINA PIPELINE CORP | COM | 706327103 | 1,159,047 | 31,258 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 31,258 |
| PENNANT GROUP INC | COM | 70805E109 | 635,406 | 27,400 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 27,400 |
| PLYMOUTH INDL REIT INC | COM | 729640102 | 652,981 | 30,203 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 30,203 |
| POLAR PWR INC | COM | 73102V105 | 1,116,851 | 2,799,123 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 2,799,123 |
| POSTAL REALTY TRUST INC | CL A | 73757R102 | 2,142,118 | 160,699 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 160,699 |
| POTLATCHDELTIC CORPORATION | COM | 737630103 | 2,715,627 | 68,942 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 68,942 |
| POWERFLEET INC | COM | 73931J109 | 1,523,209 | 333,306 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 333,306 |
| PRO-DEX INC COLO | COM NEW | 74265M205 | 227,137 | 11,565 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 11,565 |
| PROSHARES TR | PSHS ULTRUSS2000 | 74347R842 | 747,677 | 20,025 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 20,025 |
| PURE CYCLE CORP | COM NEW | 746228303 | 3,533,988 | 370,051 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 370,051 |
| PYXIS TANKERS INC | *W EXP 10/13/202 | Y71726122 | 92,640 | 77,200 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 77,200 |
| QUAKER HOUGHTON | COM | 747316107 | 2,999,109 | 17,673 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 17,673 |
| RESEARCH SOLUTIONS INC | COM | 761025105 | 1,576,589 | 618,270 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 618,270 |
| RIMINI STR INC DEL | COM | 76674Q107 | 983,935 | 320,500 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 320,500 |
| ROYAL GOLD INC | COM | 780287108 | 2,388,429 | 19,083 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 19,083 |
| ROYCE MICRO-CAP TR INC | COM | 780915104 | 1,677,185 | 182,501 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 182,501 |
| RUNWAY GROWTH FINANCE CORP | COM | 78163D100 | 3,460,428 | 294,254 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 294,254 |
| SACHEM CAP CORP | COM | 78590A109 | 1,595,422 | 615,993 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 615,993 |
| SANDSTORM GOLD LTD | COM NEW | 80013R206 | 2,852,095 | 524,282 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 524,282 |
| SANGOMA TECHNOLOGIES CORP | COM NEW | 80100R408 | 390,517 | 81,020 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 81,020 |
| SARATOGA INVT CORP | COM NEW | 80349A208 | 361,952 | 15,945 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 15,945 |
| SIGMATRON INTL INC | COM | 82661L101 | 79,423 | 14,208 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 14,208 |
| SILVERCREST METALS INC | COM | 828363101 | 296,049 | 36,325 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 36,325 |
| SLR INVESTMENT CORP | COM | 83413U100 | 220,594 | 13,710 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 13,710 |
| SMITH MIDLAND CORP | COM | 832156103 | 2,404,074 | 86,821 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 86,821 |
| SONO TEK CORP | COM | 835483108 | 159,464 | 41,205 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 41,205 |
| SOTHERLY HOTELS INC | COM | 83600C103 | 567,186 | 493,205 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 493,205 |
| SOW GOOD INC | COM | 84612H106 | 3,397,394 | 169,700 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 169,700 |
| SPDR GOLD TR | GOLD SHS | 78463V107 | 365,517 | 1,700 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 1,700 |
| STANDARD LITHIUM LTD | COM | 853606101 | 86,725 | 69,380 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 69,380 |
| STERICYCLE INC | COM | 858912108 | 1,430,580 | 24,610 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 24,610 |
| TARGA RES CORP | COM | 87612G101 | 3,094,634 | 24,030 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 24,030 |
| TORTOISE PIPELINE & ENERGY F | COM | 89148H207 | 4,579,259 | 126,569 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 126,569 |
| TORTOISE PWR & ENERGY INFRAS | COM | 89147X104 | 3,352,487 | 212,317 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 212,317 |
| TRANSACT TECHNOLOGIES INC | COM | 892918103 | 573,549 | 152,135 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 152,135 |
| TUCOWS INC | COM NEW | 898697206 | 385,338 | 19,945 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 19,945 |
| TWIN VEE POWERCATS CO | COM | 90177C101 | 43,185 | 79,238 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 79,238 |
| U S PHYSICAL THERAPY | COM | 90337L108 | 4,616,749 | 49,954 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 49,954 |
| UMH PPTYS INC | COM | 903002103 | 787,268 | 49,235 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 49,235 |
| URBAN-GRO INC | COM NEW | 91704K202 | 395,348 | 297,254 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 297,254 |
| USA COMPRESSION PARTNERS LP | COMUNIT LTDPAR | 90290N109 | 4,775,663 | 201,250 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 201,250 |
| UTAH MED PRODS INC | COM | 917488108 | 1,312,234 | 19,557 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 19,557 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 | 1,042,160 | 30,715 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 30,715 |
| VANECK ETF TRUST | JUNIOR GOLD MINE | 92189F791 | 3,262,053 | 77,447 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 77,447 |
| VANGUARD SCOTTSDALE FDS | MTG-BKD SECS ETF | 92206C771 | 2,071,739 | 45,633 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 45,633 |
| VANGUARD WORLD FD | UTILITIES ETF | 92204A876 | 1,227,570 | 8,230 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 8,230 |
| VICI PPTYS INC | COM | 925652109 | 2,293,146 | 78,962 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 78,962 |
| VIEMED HEALTHCARE INC | COM | 92663R105 | 2,235,450 | 341,290 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 341,290 |
| WELLTOWER INC | COM | 95040Q104 | 1,551,970 | 14,887 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 14,887 |
| WHEATON PRECIOUS METALS CORP | COM | 962879102 | 3,289,361 | 62,750 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 62,750 |
| WHERE FOOD COMES FROM INC | COM NEW | 96327X200 | 594,783 | 49,115 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 49,115 |
| WHITEHORSE FIN INC | COM | 96524V106 | 413,764 | 32,720 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 32,720 |
| WILLDAN GROUP INC | COM | 96924N100 | 3,966,818 | 137,498 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 137,498 |
| XAI OCTAGN FLT RAT & ALT INM | COM | 98400T106 | 1,131,420 | 158,597 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 158,597 |
