# EDGAR Filing Document

**Accession Number:** 0001595521
**File Stem:** 0001595521-25-000007
**Filing Date:** 2025-8
**Character Count:** 25709
**Document Hash:** de7edf0d1eb4605304ac0cf4edd84a9b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001595521-25-000007.hdr.sgml**: 20250813

**ACCESSION NUMBER**: 0001595521-25-000007

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250813

**DATE AS OF CHANGE**: 20250813

**EFFECTIVENESS DATE**: 20250813

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Aristides Capital LLC
- **CENTRAL INDEX KEY:** 0001595521

**ORGANIZATION NAME:**
- **EIN:** 262056777
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-19976
- **FILM NUMBER:** 251209069

**BUSINESS ADDRESS:**
- **STREET 1:** 118 E MAIN STREET
- **STREET 2:** SUITE 600
- **CITY:** LOUISVILLE
- **STATE:** KY
- **ZIP:** 40202
- **BUSINESS PHONE:** (502)-419-2956

**MAIL ADDRESS:**
- **STREET 1:** 118 E MAIN STREET
- **STREET 2:** SUITE 600
- **CITY:** LOUISVILLE
- **STATE:** KY
- **ZIP:** 40202

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Aristides Capital LLC<br>**Address:** 118 E MAIN STREET<br>SUITE 600<br>LOUISVILLE, KY 40202

**Form 13F File Number:** 028-19976

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Daniel Nall<br>**Title:** CCO PRINCIPAL<br>**Phone:** 502-694-8001

**Signature, Place, and Date of Signing:**

Daniel Nall  Louisville, KY  08-13-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 220

**Form 13F Information Table Value Total:** $502929269

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ALLIANCEBERNSTEIN HLDG L P | UNIT LTD PARTN | 01881G106 |  | 1670764 | 40920 | SH |  | SOLE | NONE | 40920 | 0 | 0 |
| ABM INDS INC | COM | 000957100 |  | 221037 | 4682 | SH |  | SOLE | NONE | 4682 | 0 | 0 |
| AIRBNB INC | COM CL A | 009066101 |  | 2267911 | 17137 | SH |  | SOLE | NONE | 17137 | 0 | 0 |
| ACI WORLDWIDE INC | COM | 004498101 |  | 681488 | 14844 | SH |  | SOLE | NONE | 14844 | 0 | 0 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 5317851 | 17792 | SH |  | SOLE | NONE | 17792 | 0 | 0 |
| ALPHA COGNITION INC | COM NEW | 02074J501 |  | 1543723 | 165458 | SH |  | SOLE | NONE | 165458 | 0 | 0 |
| FEDERAL AGRIC MTG CORP | CL A | 313148108 |  | 1981320 | 13904 | SH |  | SOLE | NONE | 13904 | 0 | 0 |
| ALBANY INTL CORP | CL A | 012348108 |  | 253029 | 3608 | SH |  | SOLE | NONE | 3608 | 0 | 0 |
| AKAMAI TECHNOLOGIES INC | COM | 00971T101 |  | 1768758 | 22176 | SH |  | SOLE | NONE | 22176 | 0 | 0 |
| ALLEGION PLC | ORD SHS | G0176J109 |  | 248895 | 1727 | SH |  | SOLE | NONE | 1727 | 0 | 0 |
| ALLISON TRANSMISSION HLDGS I | COM | 01973R101 |  | 220947 | 2326 | SH |  | SOLE | NONE | 2326 | 0 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 1005787 | 5494 | SH |  | SOLE | NONE | 5494 | 0 | 0 |
| AUTONATION INC | COM | 05329W102 |  | 255861 | 1288 | SH |  | SOLE | NONE | 1288 | 0 | 0 |
| APOGEE ENTERPRISES INC | COM | 037598109 |  | 244209 | 6015 | SH |  | SOLE | NONE | 6015 | 0 | 0 |
| ARK 21SHARES BITCOIN ETF | SHS BEN INT | 040919102 |  | 6980124 | 195030 | SH |  | SOLE | NONE | 195030 | 0 | 0 |
| ARQ INC | COM | 00770C101 |  | 233525 | 43487 | SH |  | SOLE | NONE | 43487 | 0 | 0 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 4514230 | 5633 | SH |  | SOLE | NONE | 5633 | 0 | 0 |
| ATMUS FILTRATION TECHNOLOGIE | COM | 04956D107 |  | 231813 | 6365 | SH |  | SOLE | NONE | 6365 | 0 | 0 |
| AVIAT NETWORKS INC | COM NEW | 05366Y201 |  | 2408247 | 100135 | SH |  | SOLE | NONE | 100135 | 0 | 0 |
| AWARE INC MASS | COM | 05453N100 |  | 389357 | 206009 | SH |  | SOLE | NONE | 206009 | 0 | 0 |
| CONCRETE PUMPING HLDGS INC | COM | 206704108 |  | 472449 | 76821 | SH |  | SOLE | NONE | 76821 | 0 | 0 |
| BOISE CASCADE CO DEL | COM | 09739D100 |  | 234067 | 2696 | SH |  | SOLE | NONE | 2696 | 0 | 0 |
| ABRDN ETFS | BBRG ALL COMD K1 | 003261104 |  | 623100 | 30000 | SH |  | SOLE | NONE | 30000 | 0 | 0 |
| BROWN FORMAN CORP | CL A | 115637100 |  | 961450 | 35000 | SH |  | SOLE | NONE | 35000 | 0 | 0 |
| BUNGE GLOBAL SA | COM SHS | H11356104 |  | 237950 | 2964 | SH |  | SOLE | NONE | 2964 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 3126190 | 540 | SH |  | SOLE | NONE | 540 | 0 | 0 |
| BANK UTICA/NY | COM | 065437105 |  | 1301432 | 2572 | SH |  | SOLE | NONE | 2572 | 0 | 0 |
| BANK UTICA N Y | COM | 065437204 |  | 6817183 | 13884 | SH |  | SOLE | NONE | 13884 | 0 | 0 |
| BLACKBAUD INC | COM | 09227Q100 |  | 1211065 | 18861 | SH |  | SOLE | NONE | 18861 | 0 | 0 |
| BIONTECH SE | SPONSORED ADS | 09075V102 |  | 1848213 | 17359 | SH |  | SOLE | NONE | 17359 | 0 | 0 |
| PIMCO ETF TR | ACTIVE BD ETF | 72201R775 |  | 1321585 | 14337 | SH |  | SOLE | NONE | 14337 | 0 | 0 |
| BELLRING BRANDS INC | COMMON STOCK | 07831C103 |  | 223726 | 3862 | SH |  | SOLE | NONE | 3862 | 0 | 0 |
| BLACK STONE MINERALS L P | COM UNIT | 09225M101 |  | 449900 | 34396 | SH |  | SOLE | NONE | 34396 | 0 | 0 |
| GRAYSCALE BITCOIN MINI TR ET | SHS NEW | 389930207 |  | 1574986 | 32984 | SH |  | SOLE | NONE | 32984 | 0 | 0 |
| BWX TECHNOLOGIES INC | COM | 05605H100 |  | 1695586 | 11770 | SH |  | SOLE | NONE | 11770 | 0 | 0 |
| BEYOND MEAT INC | NOTE           3/1 | 08862EAB5 |  | 44170 | 500000 | PRN |  | SOLE | NONE | 500000 | 0 | 0 |
| CARGURUS INC | COM CL A | 141788109 |  | 246674 | 7370 | SH |  | SOLE | NONE | 7370 | 0 | 0 |
| CATO CORP NEW | CL A | 149205106 |  | 107415 | 38226 | SH |  | SOLE | NONE | 38226 | 0 | 0 |
| CAMECO CORP | COM | 13321L108 |  | 1248400 | 16818 | SH |  | SOLE | NONE | 16818 | 0 | 0 |
| CENTURY CMNTYS INC | COM | 156504300 |  | 248822 | 4418 | SH |  | SOLE | NONE | 4418 | 0 | 0 |
| CENTRAL GARDEN  PET CO | CL A NON-VTG | 153527205 |  | 244469 | 7813 | SH |  | SOLE | NONE | 7813 | 0 | 0 |
| CENTERRA GOLD INC | COM | 152006102 |  | 272632 | 37813 | SH |  | SOLE | NONE | 37813 | 0 | 0 |
| CHEMED CORP NEW | COM | 16359R103 |  | 212788 | 437 | SH |  | SOLE | NONE | 437 | 0 | 0 |
| CHIME FINL INC | COM SHS CL A | 16935C109 |  | 345100 | 10000 | SH |  | SOLE | NONE | 10000 | 0 | 0 |
| PC CONNECTION INC | COM | 69318J100 |  | 228388 | 3472 | SH |  | SOLE | NONE | 3472 | 0 | 0 |
| COPA HOLDINGS SA | CL A | P31076105 |  | 263158 | 2393 | SH |  | SOLE | NONE | 2393 | 0 | 0 |
| CRAWFORD  CO | CL B | 224633107 |  | 118872 | 11379 | SH |  | SOLE | NONE | 11379 | 0 | 0 |
| CARTERS INC | COM | 146229109 |  | 258756 | 8588 | SH |  | SOLE | NONE | 8588 | 0 | 0 |
| CERAGON NETWORKS LTD | ORD | M22013102 |  | 332100 | 135000 | SH |  | SOLE | NONE | 135000 | 0 | 0 |
| CTS CORP | COM | 126501105 |  | 241428 | 5666 | SH |  | SOLE | NONE | 5666 | 0 | 0 |
| CARNIVAL PLC | ADS | 14365C103 |  | 1349811 | 52913 | SH |  | SOLE | NONE | 52913 | 0 | 0 |
| CAVCO INDS INC DEL | COM | 149568107 |  | 486562 | 1120 | SH |  | SOLE | NONE | 1120 | 0 | 0 |
| SPDR SERIES TRUST | BBG CONV SEC ETF | 78464A359 |  | 1432994 | 17336 | SH |  | SOLE | NONE | 17336 | 0 | 0 |
| CYCURION INC | *W EXP 02/13/203 | 95758L115 |  | 6000 | 100000 | SH |  | SOLE | NONE | 100000 | 0 | 0 |
| DANAOS CORPORATION | SHS | Y1968P121 |  | 246301 | 2856 | SH |  | SOLE | NONE | 2856 | 0 | 0 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 6919724 | 140702 | SH |  | SOLE | NONE | 140702 | 0 | 0 |
| DELCATH SYS INC | COM NEW | 24661P807 |  | 293760 | 21600 | SH |  | SOLE | NONE | 21600 | 0 | 0 |
| DOUBLEDOWN INTERACTIVE CO LT | ADS | 25862B109 |  | 313073 | 32714 | SH |  | SOLE | NONE | 32714 | 0 | 0 |
| DNOW INC | COM | 67011P100 |  | 237844 | 16038 | SH |  | SOLE | NONE | 16038 | 0 | 0 |
| DORMAN PRODS INC | COM | 258278100 |  | 1769515 | 14425 | SH |  | SOLE | NONE | 14425 | 0 | 0 |
| AMDOCS LTD | SHS | G02602103 |  | 201640 | 2210 | SH |  | SOLE | NONE | 2210 | 0 | 0 |
| ELECTROMED INC | COM | 285409108 |  | 573411 | 26076 | SH |  | SOLE | NONE | 26076 | 0 | 0 |
| CLEARBRIDGE ENERGY MIDSTRM O | COM | 18469P209 |  | 788243 | 16432 | SH |  | SOLE | NONE | 16432 | 0 | 0 |
| ENERSYS | COM | 29275Y102 |  | 209965 | 2448 | SH |  | SOLE | NONE | 2448 | 0 | 0 |
| EPAM SYS INC | COM | 29414B104 |  | 236762 | 1339 | SH |  | SOLE | NONE | 1339 | 0 | 0 |
| EQT CORP | COM | 26884L109 |  | 2069777 | 35490 | SH |  | SOLE | NONE | 35490 | 0 | 0 |
| ENERGY RECOVERY INC | COM | 29270J100 |  | 255574 | 19998 | SH |  | SOLE | NONE | 19998 | 0 | 0 |
| ESGL HLDGS LTD | *W EXP 10/19/202 | G3R95P116 |  | 1302 | 42000 | SH |  | SOLE | NONE | 42000 | 0 | 0 |
| ETON PHARMACEUTICALS INC | COM | 29772L108 |  | 2388115 | 167587 | SH |  | SOLE | NONE | 167587 | 0 | 0 |
| EVERTEC INC | COM | 30040P103 |  | 4273223 | 118536 | SH |  | SOLE | NONE | 118536 | 0 | 0 |
| EAGLE MATLS INC | COM | 26969P108 |  | 1123934 | 5561 | SH |  | SOLE | NONE | 5561 | 0 | 0 |
| ISHARES TR | FALN ANGLS USD | 46435G474 |  | 533518 | 19658 | SH |  | SOLE | NONE | 19658 | 0 | 0 |
| FARO TECHNOLOGIES INC | COM | 311642102 |  | 205150 | 4671 | SH |  | SOLE | NONE | 4671 | 0 | 0 |
| FTI CONSULTING INC | COM | 302941109 |  | 242089 | 1499 | SH |  | SOLE | NONE | 1499 | 0 | 0 |
| FLOWSERVE CORP | COM | 34354P105 |  | 250757 | 4790 | SH |  | SOLE | NONE | 4790 | 0 | 0 |
| FOX CORP | CL B COM | 35137L204 |  | 770371 | 14921 | SH |  | SOLE | NONE | 14921 | 0 | 0 |
| FS BANCORP INC | COM | 30263Y104 |  | 1247992 | 31691 | SH |  | SOLE | NONE | 31691 | 0 | 0 |
| FRONTDOOR INC | COM | 35905A109 |  | 265996 | 4513 | SH |  | SOLE | NONE | 4513 | 0 | 0 |
| LIBERTY MEDIA CORP DEL | COM LBTY ONE S A | 531229771 |  | 623697 | 6568 | SH |  | SOLE | NONE | 6568 | 0 | 0 |
| GENPACT LIMITED | SHS | G3922B107 |  | 1653808 | 37578 | SH |  | SOLE | NONE | 37578 | 0 | 0 |
| GRAYSCALE BITCOIN TRUST ETF | SHS REP COM UT | 389637109 |  | 13991097 | 164931 | SH |  | SOLE | NONE | 164931 | 0 | 0 |
| GREIF INC | CL B | 397624206 |  | 1372954 | 19895 | SH |  | SOLE | NONE | 19895 | 0 | 0 |
| GRIFFON CORP | COM | 398433102 |  | 244538 | 3379 | SH |  | SOLE | NONE | 3379 | 0 | 0 |
| GRACO INC | COM | 384109104 |  | 386865 | 4500 | SH |  | SOLE | NONE | 4500 | 0 | 0 |
| GULF IS FABRICATION INC | COM | 402307102 |  | 268660 | 40400 | SH |  | SOLE | NONE | 40400 | 0 | 0 |
| GILDAN ACTIVEWEAR INC | COM | 375916103 |  | 246446 | 5005 | SH |  | SOLE | NONE | 5005 | 0 | 0 |
| GENASYS INC | COM | 36872P103 |  | 200021 | 115619 | SH |  | SOLE | NONE | 115619 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 12103476 | 68680 | SH |  | SOLE | NONE | 68680 | 0 | 0 |
| GREEN BRICK PARTNERS INC | COM | 392709101 |  | 245169 | 3899 | SH |  | SOLE | NONE | 3899 | 0 | 0 |
| HACKETT GROUP INC | COM | 404609109 |  | 4205968 | 165459 | SH |  | SOLE | NONE | 165459 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 3255763 | 8880 | SH |  | SOLE | NONE | 8880 | 0 | 0 |
| HEICO CORP NEW | CL A | 422806208 |  | 494213 | 1910 | SH |  | SOLE | NONE | 1910 | 0 | 0 |
| HIGHLAND OPPS  INCOME FD | HIGHLAND INCOME | 43010E404 |  | 694179 | 133496 | SH |  | SOLE | NONE | 133496 | 0 | 0 |
| HINGHAM INSTN SVGS MASS | COM | 433323102 |  | 1416588 | 5704 | SH |  | SOLE | NONE | 5704 | 0 | 0 |
| HARMONIC INC | COM | 413160102 |  | 242451 | 25602 | SH |  | SOLE | NONE | 25602 | 0 | 0 |
| HNI CORP | COM | 404251100 |  | 254802 | 5181 | SH |  | SOLE | NONE | 5181 | 0 | 0 |
| HESAI GROUP | SPONSORED ADS | 428050108 |  | 876112 | 39914 | SH |  | SOLE | NONE | 39914 | 0 | 0 |
| HUB GROUP INC | CL A | 443320106 |  | 231269 | 6918 | SH |  | SOLE | NONE | 6918 | 0 | 0 |
| ISHARES TR | ISHARES BIOTECH | 464287556 |  | 3601360 | 28467 | SH |  | SOLE | NONE | 28467 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 27921186 | 456154 | SH |  | SOLE | NONE | 456154 | 0 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 6557400 | 60000 | SH |  | SOLE | NONE | 60000 | 0 | 0 |
| IRADIMED CORP | COM | 46266A109 |  | 1789216 | 29925 | SH |  | SOLE | NONE | 29925 | 0 | 0 |
| INVESTORS TITLE CO NC | COM | 461804106 |  | 3363896 | 15920 | SH |  | SOLE | NONE | 15920 | 0 | 0 |
| ITURAN LOCATION AND CONTROL | SHS | M6158M104 |  | 8906893 | 229974 | SH |  | SOLE | NONE | 229974 | 0 | 0 |
| ITT INC | COM | 45073V108 |  | 256260 | 1634 | SH |  | SOLE | NONE | 1634 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 9278970 | 43000 | SH |  | SOLE | NONE | 43000 | 0 | 0 |
| JOHNSON OUTDOORS INC | CL A | 479167108 |  | 949297 | 31361 | SH |  | SOLE | NONE | 31361 | 0 | 0 |
| JACKSON FINANCIAL INC | COM CL A | 46817M107 |  | 664416 | 7483 | SH |  | SOLE | NONE | 7483 | 0 | 0 |
| KB HOME | COM | 48666K109 |  | 240166 | 4534 | SH |  | SOLE | NONE | 4534 | 0 | 0 |
| KIRBY CORP | COM | 497266106 |  | 256874 | 2265 | SH |  | SOLE | NONE | 2265 | 0 | 0 |
| KFORCE INC | COM | 493732101 |  | 243654 | 5924 | SH |  | SOLE | NONE | 5924 | 0 | 0 |
| KAMADA LTD | SHS | M6240T109 |  | 244784 | 31585 | SH |  | SOLE | NONE | 31585 | 0 | 0 |
| EASTMAN KODAK CO | COM NEW | 277461406 |  | 316683 | 56050 | SH |  | SOLE | NONE | 56050 | 0 | 0 |
| KAYNE ANDERSON ENERGY INFRST | COM | 486606106 |  | 1159224 | 91134 | SH |  | SOLE | NONE | 91134 | 0 | 0 |
| LITHIA MTRS INC | COM | 536797103 |  | 434774 | 1287 | SH |  | SOLE | NONE | 1287 | 0 | 0 |
| LAUREATE EDUCATION INC | COMMON STOCK | 518613203 |  | 255730 | 10938 | SH |  | SOLE | NONE | 10938 | 0 | 0 |
| LINCOLN ELEC HLDGS INC | COM | 533900106 |  | 258113 | 1245 | SH |  | SOLE | NONE | 1245 | 0 | 0 |
| LINDSAY CORP | COM | 535555106 |  | 255178 | 1769 | SH |  | SOLE | NONE | 1769 | 0 | 0 |
| LIGHT  WONDER INC | COM | 80874P109 |  | 266736 | 2771 | SH |  | SOLE | NONE | 2771 | 0 | 0 |
| GRAND CANYON ED INC | COM | 38526M106 |  | 238140 | 1260 | SH |  | SOLE | NONE | 1260 | 0 | 0 |
| LOUISIANA PAC CORP | COM | 546347105 |  | 227014 | 2640 | SH |  | SOLE | NONE | 2640 | 0 | 0 |
| LSI INDS INC OHIO | COM | 50216C108 |  | 877716 | 51600 | SH |  | SOLE | NONE | 51600 | 0 | 0 |
| LEGALZOOM COM INC | COM | 52466B103 |  | 237131 | 26614 | SH |  | SOLE | NONE | 26614 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 786716 | 1400 | SH |  | SOLE | NONE | 1400 | 0 | 0 |
| MAMAS CREATIONS INC | COM | 56146T103 |  | 1488232 | 179305 | SH |  | SOLE | NONE | 179305 | 0 | 0 |
| MANHATTAN ASSOCIATES INC | COM | 562750109 |  | 249800 | 1265 | SH |  | SOLE | NONE | 1265 | 0 | 0 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 3397719 | 1300 | SH |  | SOLE | NONE | 1300 | 0 | 0 |
| M/I HOMES INC | COM | 55305B101 |  | 241282 | 2152 | SH |  | SOLE | NONE | 2152 | 0 | 0 |
| MITEK SYS INC | COM NEW | 606710200 |  | 525235 | 53054 | SH |  | SOLE | NONE | 53054 | 0 | 0 |
| MAXIMUS INC | COM | 577933104 |  | 228922 | 3261 | SH |  | SOLE | NONE | 3261 | 0 | 0 |
| MOBIX LABS INC | *W EXP 99/99/999 | 60743G118 |  | 7230 | 72377 | SH |  | SOLE | NONE | 72377 | 0 | 0 |
| MODINE MFG CO | COM | 607828100 |  | 650297 | 6602 | SH |  | SOLE | NONE | 6602 | 0 | 0 |
| MOOG INC | CL A | 615394202 |  | 242681 | 1341 | SH |  | SOLE | NONE | 1341 | 0 | 0 |
| MODERNA INC | COM | 60770K107 |  | 551800 | 20000 | SH |  | SOLE | NONE | 20000 | 0 | 0 |
| MSA SAFETY INC | COM | 553498106 |  | 255818 | 1527 | SH |  | SOLE | NONE | 1527 | 0 | 0 |
| MULTISENSOR AI HOLDINGS INC | *W EXP 12/19/202 | 456948116 |  | 1211 | 37500 | SH |  | SOLE | NONE | 37500 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 9933278 | 19970 | SH |  | SOLE | NONE | 19970 | 0 | 0 |
| MINERALS TECHNOLOGIES INC | COM | 603158106 |  | 230303 | 4182 | SH |  | SOLE | NONE | 4182 | 0 | 0 |
| MYOMO INC | COM NEW | 62857J201 |  | 205200 | 95000 | SH |  | SOLE | NONE | 95000 | 0 | 0 |
| NATURES SUNSHINE PRODS INC | COM | 639027101 |  | 369750 | 25000 | SH |  | SOLE | NONE | 25000 | 0 | 0 |
| NEWMARKET CORP | COM | 651587107 |  | 263218 | 381 | SH |  | SOLE | NONE | 381 | 0 | 0 |
| NIKE INC | CL B | 654106103 |  | 3196800 | 45000 | SH |  | SOLE | NONE | 45000 | 0 | 0 |
| NL INDS INC | COM NEW | 629156407 |  | 2655610 | 414939 | SH |  | SOLE | NONE | 414939 | 0 | 0 |
| NAVIOS MARITIME PARTNERS L P | COM UNIT LPI | Y62267409 |  | 227813 | 6046 | SH |  | SOLE | NONE | 6046 | 0 | 0 |
| NOMAD FOODS LTD | USD ORD SHS | G6564A105 |  | 226952 | 13358 | SH |  | SOLE | NONE | 13358 | 0 | 0 |
| NAVIGATOR HLDGS LTD | SHS | Y62132108 |  | 250568 | 17708 | SH |  | SOLE | NONE | 17708 | 0 | 0 |
| NVR INC | COM | 62944T105 |  | 635167 | 86 | SH |  | SOLE | NONE | 86 | 0 | 0 |
| NXG NEXTGEN INFRASTR INCM FD | COM | 231647207 |  | 556509 | 11066 | SH |  | SOLE | NONE | 11066 | 0 | 0 |
| OPTION CARE HEALTH INC | COM NEW | 68404L201 |  | 249479 | 7681 | SH |  | SOLE | NONE | 7681 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 1530410 | 7000 | SH |  | SOLE | NONE | 7000 | 0 | 0 |
| OPEN TEXT CORP | COM | 683715106 |  | 256493 | 8784 | SH |  | SOLE | NONE | 8784 | 0 | 0 |
| PAYCHEX INC | COM | 704326107 |  | 651661 | 4480 | SH |  | SOLE | NONE | 4480 | 0 | 0 |
| PROGYNY INC | COM | 74340E103 |  | 251020 | 11410 | SH |  | SOLE | NONE | 11410 | 0 | 0 |
| PHINIA INC | COMMON STOCK | 71880K101 |  | 245941 | 5528 | SH |  | SOLE | NONE | 5528 | 0 | 0 |
| PERPETUA RESOURCES CORP | COM | 714266103 |  | 780456 | 64288 | SH |  | SOLE | NONE | 64288 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 8611100 | 15610 | SH |  | SOLE | NONE | 15610 | 0 | 0 |
| RYDER SYS INC | COM | 783549108 |  | 244542 | 1538 | SH |  | SOLE | NONE | 1538 | 0 | 0 |
| ROCKY BRANDS INC | COM | 774515100 |  | 664435 | 29943 | SH |  | SOLE | NONE | 29943 | 0 | 0 |
| RICHARDSON ELECTRS LTD | COM | 763165107 |  | 458645 | 47528 | SH |  | SOLE | NONE | 47528 | 0 | 0 |
| STURM RUGER  CO INC | COM | 864159108 |  | 237838 | 6625 | SH |  | SOLE | NONE | 6625 | 0 | 0 |
| RENEW ENERGY GLOBAL PLC | CL A SHS | G7500M104 |  | 912811 | 132100 | SH |  | SOLE | NONE | 132100 | 0 | 0 |
| GIBRALTAR INDS INC | COM | 374689107 |  | 236590 | 4010 | SH |  | SOLE | NONE | 4010 | 0 | 0 |
| SANMINA CORPORATION | COM | 801056102 |  | 281946 | 2882 | SH |  | SOLE | NONE | 2882 | 0 | 0 |
| CASSAVA SCIENCES INC | COM | 14817C107 |  | 29127 | 16092 | SH |  | SOLE | NONE | 16092 | 0 | 0 |
| SAFE BULKERS INC | COM | Y7388L103 |  | 125848 | 34861 | SH |  | SOLE | NONE | 34861 | 0 | 0 |
| SAGA COMMUNICATIONS INC | CL A NEW | 786598300 |  | 158080 | 12160 | SH |  | SOLE | NONE | 12160 | 0 | 0 |
| SHF HOLDINGS INC | *W EXP 09/28/202 | 824430110 |  | 553 | 25000 | SH |  | SOLE | NONE | 25000 | 0 | 0 |
| SPROTT INC | COM NEW | 852066208 |  | 429187 | 6212 | SH |  | SOLE | NONE | 6212 | 0 | 0 |
| SUBURBAN PROPANE PARTNERS L | UNIT LTD PARTN | 864482104 |  | 376048 | 20294 | SH |  | SOLE | NONE | 20294 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 46676096 | 75546 | SH |  | SOLE | NONE | 75546 | 0 | 0 |
| SIMPSON MFG INC | COM | 829073105 |  | 348050 | 2241 | SH |  | SOLE | NONE | 2241 | 0 | 0 |
| SS TECHNOLOGIES HLDGS INC | COM | 78467J100 |  | 2112228 | 25510 | SH |  | SOLE | NONE | 25510 | 0 | 0 |
| STRATTEC SEC CORP | COM | 863111100 |  | 670935 | 10785 | SH |  | SOLE | NONE | 10785 | 0 | 0 |
| TURTLE BEACH CORP | COM NEW | 900450206 |  | 278854 | 20163 | SH |  | SOLE | NONE | 20163 | 0 | 0 |
| TORTOISE SUSTAINABLE  SOCIA | COM SH BEN INT | 27901F109 |  | 281794 | 23013 | SH |  | SOLE | NONE | 23013 | 0 | 0 |
| TELEFLEX INCORPORATED | COM | 879369106 |  | 231631 | 1957 | SH |  | SOLE | NONE | 1957 | 0 | 0 |
| TASEKO MINES LTD | COM | 876511106 |  | 346500 | 110000 | SH |  | SOLE | NONE | 110000 | 0 | 0 |
| TEEKAY CORPORATION LTD | SHS | G8726T105 |  | 249101 | 30194 | SH |  | SOLE | NONE | 30194 | 0 | 0 |
| TILLYS INC | CL A | 886885102 |  | 83080 | 60203 | SH |  | SOLE | NONE | 60203 | 0 | 0 |
| TAYLOR MORRISON HOME CORP | COM | 87724P106 |  | 246540 | 4014 | SH |  | SOLE | NONE | 4014 | 0 | 0 |
| TRINET GROUP INC | COM | 896288107 |  | 212984 | 2912 | SH |  | SOLE | NONE | 2912 | 0 | 0 |
| TRAVEL PLUS LEISURE CO | COM | 894164102 |  | 248502 | 4815 | SH |  | SOLE | NONE | 4815 | 0 | 0 |
| TOLL BROTHERS INC | COM | 889478103 |  | 265923 | 2330 | SH |  | SOLE | NONE | 2330 | 0 | 0 |
| TURNING PT BRANDS INC | COM | 90041L105 |  | 7528507 | 99360 | SH |  | SOLE | NONE | 99360 | 0 | 0 |
| TRI POINTE HOMES INC | COM | 87265H109 |  | 250137 | 7829 | SH |  | SOLE | NONE | 7829 | 0 | 0 |
| TORO CO | COM | 891092108 |  | 229357 | 3245 | SH |  | SOLE | NONE | 3245 | 0 | 0 |
| TILE SHOP HLDGS INC | COM | 88677Q109 |  | 120834 | 18999 | SH |  | SOLE | NONE | 18999 | 0 | 0 |
| TORTOISE ENERGY INFRA CORP | COM | 89147L886 |  | 1051253 | 23952 | SH |  | SOLE | NONE | 23952 | 0 | 0 |
| CVR PARTNERS LP | COM | 126633205 |  | 325510 | 3664 | SH |  | SOLE | NONE | 3664 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 2787143 | 7850 | SH |  | SOLE | NONE | 7850 | 0 | 0 |
| VIMEO INC | COMMON STOCK | 92719V100 |  | 328678 | 81356 | SH |  | SOLE | NONE | 81356 | 0 | 0 |
| VONTIER CORPORATION | COM | 928881101 |  | 243798 | 6607 | SH |  | SOLE | NONE | 6607 | 0 | 0 |
| VERRA MOBILITY CORP | CL A COM STK | 92511U102 |  | 254281 | 10015 | SH |  | SOLE | NONE | 10015 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | TT WRLD ST ETF | 922042742 |  | 947321 | 7371 | SH |  | SOLE | NONE | 7371 | 0 | 0 |
| WESCO INTL INC | COM | 95082P105 |  | 261873 | 1414 | SH |  | SOLE | NONE | 1414 | 0 | 0 |
| WHERE FOOD COMES FROM INC | COM NEW | 96327X200 |  | 345636 | 31251 | SH |  | SOLE | NONE | 31251 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI INT-UTILS | 81369Y886 |  | 1648552 | 20188 | SH |  | SOLE | NONE | 20188 | 0 | 0 |
| YELP INC | CL A | 985817105 |  | 209904 | 6125 | SH |  | SOLE | NONE | 6125 | 0 | 0 |
| YUM BRANDS INC | COM | 988498101 |  | 1600344 | 10800 | SH |  | SOLE | NONE | 10800 | 0 | 0 |
| APPLOVIN CORP | Put | 03831W958 |  | 2275520 | 6500 | SH | Put | SOLE | NONE | 6500 | 0 | 0 |
| ARBOR REALTY TRUST INC | Put | 038923958 |  | 312440 | 29200 | SH | Put | SOLE | NONE | 29200 | 0 | 0 |
| CARVANA CO | Put | 146869952 |  | 11355552 | 33700 | SH | Put | SOLE | NONE | 33700 | 0 | 0 |
| CTO RLTY GROWTH INC NEW | Put | 22948Q951 |  | 897520 | 52000 | SH | Put | SOLE | NONE | 52000 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | Put | 46138G958 |  | 1046000 | 50000 | SH | Put | SOLE | NONE | 50000 | 0 | 0 |
| IONQ INC | Put | 46222L958 |  | 18240765 | 424500 | SH | Put | SOLE | NONE | 424500 | 0 | 0 |
| ISHARES TR | Put | 464288953 |  | 8065000 | 100000 | SH | Put | SOLE | NONE | 100000 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | Call | 46438F901 |  | 1836300 | 30000 | SH | Call | SOLE | NONE | 30000 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | Put | 46438F951 |  | 36726000 | 600000 | SH | Put | SOLE | NONE | 600000 | 0 | 0 |
| MICROSTRATEGY INC | Put | 594972958 |  | 4042300 | 10000 | SH | Put | SOLE | NONE | 10000 | 0 | 0 |
| NEXTDECADE CORP | Call | 65342K905 |  | 225423 | 25300 | SH | Call | SOLE | NONE | 25300 | 0 | 0 |
| NEXTNAV INC | Put | 65345N956 |  | 1278320 | 84100 | SH | Put | SOLE | NONE | 84100 | 0 | 0 |
| NVIDIA CORPORATION | Put | 67066G954 |  | 7899500 | 50000 | SH | Put | SOLE | NONE | 50000 | 0 | 0 |
| PURECYCLE TECHNOLOGIES INC | Put | 74623V953 |  | 8233700 | 601000 | SH | Put | SOLE | NONE | 601000 | 0 | 0 |
| QUANTUM COMPUTING INC | Put | 74766W958 |  | 16409520 | 856000 | SH | Put | SOLE | NONE | 856000 | 0 | 0 |
| RIGETTI COMPUTING INC | Call | 76655K903 |  | 936940 | 79000 | SH | Call | SOLE | NONE | 79000 | 0 | 0 |
| RIGETTI COMPUTING INC | Put | 76655K953 |  | 14637612 | 1234200 | SH | Put | SOLE | NONE | 1234200 | 0 | 0 |
| SOLARIS ENERGY INFRAS INC | Put | 83418M953 |  | 8257851 | 291900 | SH | Put | SOLE | NONE | 291900 | 0 | 0 |
| TESLA INC | Put | 88160R951 |  | 43360590 | 136500 | SH | Put | SOLE | NONE | 136500 | 0 | 0 |
| TRACTOR SUPPLY CO | Put | 892356956 |  | 1461729 | 27700 | SH | Put | SOLE | NONE | 27700 | 0 | 0 |
| YUM BRANDS INC | Call | 988498901 |  | 1481800 | 10000 | SH | Call | SOLE | NONE | 10000 | 0 | 0 |

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