Sector breakdown

04
Industrials 35.0%
Healthcare 13.8%
Consumer Discretionary 11.3%
Technology 11.1%
Energy 8.8%
Retail 6.4%
Communication Services 6.0%
Financials 2.3%
Materials 2.3%
Real Estate 0.9%
Other/Unmapped 2.0%

Full portfolio 50 positions

05
Type Streak 8Q trend
DCO Ducommun Incorporated Common Stock $21,933,124 6.96% 118,423 $6,291,504 Down ×2
MGNI Magnite, Inc. - Common Stock $18,815,538 5.97% 991,335 $7,026,408 Down ×1
WTTR Select Water Solutions, Inc. Class A common stock $18,241,380 5.79% 912,982 $4,258,358 Down ×2
ARHS Arhaus, Inc. - Class A Common Stock $14,150,383 4.49% 1,680,568 $6,045,076 Up ×3
COHU Cohu, Inc. - Common Stock $14,093,602 4.47% 190,686 $5,643,768 Down ×2
WERN Werner Enterprises, Inc. - Common Stock $12,205,131 3.87% 279,870 $8,377,214 Up ×2
CYRX CryoPort, Inc. - Common Stock $11,669,998 3.70% 743,312 $6,626,874 Up ×1
MBUU Malibu Boats, Inc. - Common Stock $9,862,950 3.13% 359,568 $4,285,122 Up ×3
SEI Solaris Energy Infrastructure, Inc. Class A Common Stock $9,545,292 3.03% 118,634 $1,420,793 Down ×4
BJRI BJ's Restaurants, Inc. - Common Stock $8,715,047 2.77% 143,493 $6,995,147 Up ×1
KRUS Kura Sushi USA, Inc. - Class A Common Stock $8,500,231 2.70% 147,676 $2,171,953 Up ×1
CBRL Cracker Barrel Old Country Store, Inc. - Common Stock $8,492,076 2.69% 159,326 $6,664,926 Up ×1
ALGT Allegiant Travel Company - Common Stock $8,223,533 2.61% 69,928 Up ×1
PLAB Photronics, Inc. - Common Stock $7,728,055 2.45% 237,567 $6,209,973 Up ×1
HCSG Healthcare Services Group, Inc. - Common Stock $7,112,502 2.26% 289,597 Up ×1
TILE Interface, Inc. - Common Stock $6,765,732 2.15% 188,776 $2,555,049 Up ×1
MLAB Mesa Laboratories, Inc. - Common Stock $6,765,617 2.15% 67,962 $750,228 Down ×2
TATT TAT Technologies Ltd. - Ordinary Shares $6,649,952 2.11% 137,880 Up ×1
OPRT Oportun Financial Corporation - common stock $6,425,069 2.04% 1,125,231 $3,076,434 Up ×1
NVRI Enviri Corporation Common Stock $6,335,143 2.01% 288,617 $-5,944,073 Down ×2
AMPL Amplitude, Inc. - Class A Common Stock $6,334,024 2.01% 827,977 $-1,603,269 Down ×1
CECO CECO Environmental Corp. - Common Stock $6,176,309 1.96% 68,066 Up ×1
AEBI Aebi Schmidt Holding AG - Common Stock $5,670,291 1.80% 451,816 $4,336,050 Up ×1
AZTA Azenta, Inc. - Common Stock $5,625,399 1.78% 220,431 $434,667 Down ×1
BXC Bluelinx Holdings Inc. Common Stock $5,394,760 1.71% 87,181 $1,587,531 Up ×1
SVV Savers Value Village, Inc. Common Stock $5,321,688 1.69% 527,422 $4,169,857 Up ×1
PACK Ranpak Holdings Corp Class A Common Stock $5,246,855 1.66% 717,764 $1,721,519 Down ×2
PSIX Power Solutions International, Inc. - Common Stock $5,027,155 1.60% 129,266 $2,636,641 Up ×1
HURC Hurco Companies, Inc. - Common Stock $4,838,126 1.54% 211,318 $1,726,387 Down ×4
ATRC AtriCure, Inc. - Common Stock $4,756,600 1.51% 170,000 Up ×1
INFU CUSIP: 45685K102 $4,525,213 1.44% 468,934 $192,577 Down ×2
MDXG MiMedx Group, Inc - Common Stock $4,319,427 1.37% 1,121,929 $1,966 Up ×1
PPIH Perma-Pipe International Holdings, Inc. - Common Stock $3,598,798 1.14% 132,163 $1,741,695 Up ×1
INDI indie Semiconductor, Inc. - Class A Common Stock $3,496,112 1.11% 778,644 $-3,119,191 Down ×2
WEAV Weave Communications, Inc. Common Stock $3,323,468 1.05% 554,836 $-166,498 Down ×1
KRMD KORU Medical Systems, Inc. - Common Stock $3,190,589 1.01% 759,664 $-94,559 Down ×4
MASS 908 Devices Inc. - Common Stock $3,143,902 1.00% 361,368 $930,065 Down ×1
AIV Apartment Investment and Management Company Common Stock $2,872,382 0.91% 967,132 $-1,067,883 Down ×2
CODA Coda Octopus Group, Inc. - Common stock $2,484,609 0.79% 254,310 $2,209,906 Up ×1
SLP Simulations Plus, Inc. - Common Stock $2,384,493 0.76% 130,229 $-3,525,708 Down ×1
AP Ampco-Pittsburgh Corporation Common Stock $2,075,222 0.66% 239,910 $631,430 Up ×1
OWLT Owlet, Inc. Class A Common Stock $1,877,623 0.60% 327,112 $1,171,145 Up ×2
STAA STAAR Surgical Company - Common Stock $1,864,850 0.59% 65,000 Up ×1
TWIN Twin Disc, Incorporated - Common Stock $1,864,746 0.59% 80,377 $991,304 Up ×2
TGEN CUSIP: 87876P201 $1,845,202 0.59% 353,487 $1,098,437 Up ×1
RCMT RCM Technologies, Inc. - Common Stock $1,667,433 0.53% 59,066 $440,061 Down ×2
OPXS Optex Systems Holdings, Inc. - Common Stock $1,337,227 0.42% 95,312 Up ×1
HBIO Harvard Bioscience, Inc. - Common Stock $1,125,401 0.36% 182,992 $548,196 Up ×1
VSCO Victorias Secret & Co. Common Stock $776,531 0.25% 9,302 $344,873 Down ×2
DAVE Dave Inc. - Class A Common Stock $767,535 0.24% 2,060 $147,426 Down ×5

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

SecurityValue% of portfolioStreak
ARHS $14,150,383 4.49% up ×3
MBUU $9,862,950 3.13% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
ALGT $8,223,533 69,928 2.61%
HCSG $7,112,502 289,597 2.26%
TATT $6,649,952 137,880 2.11%
CECO $6,176,309 68,066 1.96%
ATRC $4,756,600 170,000 1.51%
STAA $1,864,850 65,000 0.59%
OPXS $1,337,227 95,312 0.42%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
WERN Bought more +150K +$8.4M
MGNI Trimmed -1K +$7.0M
CBRL Bought more +94K +$6.7M
CYRX Bought more +134K +$6.6M
DCO Trimmed -10K +$6.3M
ARHS Bought more +485K +$6.0M
NVRI Trimmed -337K -$5.9M
COHU Trimmed -85K +$5.6M
AEBI Bought more +314K +$4.3M
MBUU Bought more +144K +$4.3M

2 positions hidden — reported move looks larger than the position itself (data completeness check)

Exited positions

11

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarterShares beforeValue beforePrice since exit
PLYM Dec. 31, 2025 655,075 $14,627,825 No longer tracked
THR June 30, 2026 241,463 $12,169,735 No longer tracked
SCVL June 30, 2026 423,080 $6,595,817 No longer tracked
BBW June 30, 2026 152,126 $5,697,119 -10.6%
WS Sept. 30, 2025 176,881 $5,276,360 39.4%
PHR June 30, 2026 615,740 $5,159,901 20.2%
WNC June 30, 2026 548,037 $4,724,079 2.4%
INMD June 30, 2026 226,065 $3,092,569 -8.5%
EMBC March 31, 2026 231,244 $2,747,179 -26.9%
ANIK June 30, 2025 173,489 $2,607,540 102.6%
SEMR Sept. 30, 2025 257,370 $2,329,199 No longer tracked
TEAD Dec. 31, 2025 1,336,889 $2,205,867 -50.7%
JBI March 31, 2026 322,271 $2,107,652 -17.5%
CMCO June 30, 2025 123,373 $2,088,705 -2.0%
BVS June 30, 2026 207,720 $1,896,484 59.7%
AMWD June 30, 2025 30,000 $1,764,900 No longer tracked
NTIC June 30, 2026 206,259 $1,699,574 -11.7%
ICHR March 31, 2026 75,807 $1,397,123 -7.6%
SNCY March 31, 2026 79,844 $1,148,955 No longer tracked
KRNT Dec. 31, 2025 85,004 $1,147,554 26.2%
ASLE Dec. 31, 2025 112,907 $924,708 -32.6%
BLFS March 31, 2026 28,454 $688,018 No longer tracked
CVEO Dec. 31, 2025 29,888 $687,424 32.1%
SRTS June 30, 2026 152,418 $606,624 -6.6%