Shares
Market
Value
COMMON
STOCKS
—
85.5%
Aerospace
and
Defense
—
3.0%
500
Astronics
Corp.†
......................................
$
9,740
1,300
Astronics
Corp.,
Cl. B†
.............................
25,545
12,500
Avio
SpA
..................................................
171,147
1,000
CPI
Aerostructures
Inc.†
...........................
3,440
4,000
Innovative
Solutions
and
Support
Inc.†
.....
26,080
6,500
Redwire
Corp.†
........................................
44,655
5,000
Triumph
Group
Inc.†
................................
64,450
345,057
Agriculture
—
1.4%
5,800
Limoneira
Co.
...........................................
153,700
58,000
S&W
Seed
Co.†
.......................................
10,730
164,430
Automotive:
Parts
and
Accessories
—
3.1%
12,500
Garrett
Motion
Inc.†
.................................
102,250
1,500
Motorcar
Parts
of
America
Inc.†
...............
11,085
700
Smart
Eye
AB†
.........................................
4,756
1,500
Standard
Motor
Products
Inc.
...................
49,800
4,500
Strattec
Security
Corp.†
............................
191,970
359,861
Broadcasting
—
1.9%
5,000
Beasley
Broadcast
Group
Inc.,
Cl. A†
........
53,800
115,000
Corus
Entertainment
Inc.,
Cl. B†
...............
14,455
6,000
Cumulus
Media
Inc.,
Cl. A†
.......................
7,860
14,000
Townsquare
Media
Inc.,
Cl. A
....................
142,240
218,355
Building
and
Construction
—
2.0%
59,026
Armstrong
Flooring
Inc.†
..........................
12
7,500
Gencor
Industries
Inc.†
............................
156,450
1,925
Neinor
Homes
SA
.....................................
32,185
200
The
Monarch
Cement
Co.
.........................
38,000
226,647
Business
Services
—
3.0%
400
Boston
Omaha
Corp.,
Cl. A†
.....................
5,948
5,400
Du-Art
Film
Laboratories
Inc.†(a)
..............
23,414
600
Du-Art
Film
Laboratories
Inc.†(a)
..............
2,602
4,000
Ework
Group
AB
.......................................
55,613
500
MIND
Technology
Inc.†
............................
1,915
13,000
Steel
Connect
Inc.†
..................................
137,150
13,000
TransAct
Technologies
Inc.†
.....................
63,180
80,002
Trans-Lux
Corp.†
......................................
58,122
347,944
Cable
and
Satellite
—
0.9%
19,000
WideOpenWest
Inc.†
................................
99,750
Computer
Software
and
Services
—
1.7%
17,000
Alithya
Group
Inc.,
Cl. A†
..........................
21,930
900
Asetek
A/S†
.............................................
541
10,200
Daktronics
Inc.†
.......................................
131,682
Shares
Market
Value
5,500
NextNav
Inc.†
...........................................
$
41,195
60,000
Pacific
Online
Ltd.
....................................
2,817
198,165
Consumer
Products
—
7.6%
11,000
American
Outdoor
Brands
Inc.†
................
101,420
2,000
Aspen
Group
Inc.†
...................................
10
54,000
Clarus
Corp.
.............................................
243,000
800
CompX
International
Inc.
..........................
23,368
45,000
Glatfelter
Corp.†
.......................................
81,000
650,000
Goodbaby
International
Holdings
Ltd.†
.....
75,252
3,200
HG
Holdings
Inc.†
....................................
19,760
8,000
Lifecore
Biomedical
Inc.†
.........................
39,440
12,000
Lifetime
Brands
Inc.
.................................
78,480
2,500
Marine
Products
Corp.
..............................
24,225
4,600
Nobility
Homes
Inc.
..................................
174,800
100
Oil-Dri
Corp.
of
America
............................
6,899
71,000
Playmates
Holdings
Ltd.
...........................
5,206
872,860
Consumer
Services
—
1.5%
22,000
Liberty
TripAdvisor
Holdings
Inc.,
Cl. A†
...
11,220
270,000
Tribal
Group
plc†
......................................
158,108
169,328
Diversified
Industrial
—
20.0%
122,000
Ampco-Pittsburgh
Corp.†
.........................
244,000
12,400
Arq
Inc.†
..................................................
72,788
9,500
Ascent
Industries
Co.†
..............................
92,150
500
Burnham
Holdings
Inc.,
Cl. A
....................
6,875
14,500
Commercial
Vehicle
Group
Inc.†
...............
47,125
500
Core
Molding
Technologies
Inc.†
..............
8,605
31,000
Fluence
Corp.
Ltd.†
..................................
1,972
2,200
Graham
Corp.†
.........................................
65,098
5,000
INNOVATE
Corp.†
.....................................
18,500
40,000
Intevac
Inc.†
............................................
136,000
13,500
Myers
Industries
Inc.
................................
186,570
12,000
Park-Ohio
Holdings
Corp.
.........................
368,400
3,000
Perma-Fix
Environmental
Services
Inc.†
...
36,810
2,000
Quest
Resource
Holding
Corp.†
................
15,960
2,900
Servotronics
Inc.†
....................................
32,770
105,000
Tredegar
Corp.†
.......................................
765,450
32,000
Velan
Inc.†
...............................................
194,018
2,293,091
Electronics
—
0.2%
200
Bel
Fuse
Inc.,
Cl. B
...................................
15,702
1,000
Kopin
Corp.†
............................................
730
300
Ultralife
Corp.†
.........................................
2,712
19,144
Energy
and
Utilities
—
2.0%
2,900
Capstone
Green
Energy
Corp.†
.................
609
400
Consolidated
Water
Co.
Ltd.
......................
10,084
1,000
DMC
Global
Inc.†
.....................................
12,980
