# EDGAR Filing Document

**Accession Number:** 0001105907
**File Stem:** 0001105907-25-000011
**Filing Date:** 2025-8
**Character Count:** 20809
**Document Hash:** 7bcd1efc93c78a5cd9184b0eaa64c951
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001105907-25-000011.hdr.sgml**: 20250805

**ACCESSION NUMBER**: 0001105907-25-000011

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250805

**DATE AS OF CHANGE**: 20250805

**EFFECTIVENESS DATE**: 20250805

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BARD ASSOCIATES INC
- **CENTRAL INDEX KEY:** 0001105907

**ORGANIZATION NAME:**
- **EIN:** 363452497
- **STATE OF INCORPORATION:** IL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-11597
- **FILM NUMBER:** 251183357

**BUSINESS ADDRESS:**
- **STREET 1:** 233 SOUTH WACKER DRIVE
- **STREET 2:** SUITE 4400
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 3127829600

**MAIL ADDRESS:**
- **STREET 1:** 233 SOUTH WACKER DRIVE
- **STREET 2:** SUITE 4400
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

### 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:** BARD ASSOCIATES INC<br>**Address:** 233 SOUTH WACKER DRIVE<br>SUITE 4400<br>CHICAGO, IL 60606

**Form 13F File Number:** 028-11597

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:** Molly Wheeler<br>**Title:** Compliance Consultant<br>**Phone:** 720-343-1278

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

Molly Wheeler  Broomfield, CO  08-05-2025<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:** 173

**Form 13F Information Table Value Total:** $311113011

      (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 |
| ACCESS NEWSWIRE INC | COM NEW | 46520M204 |  | 1622875 | 131941 | SH |  | SOLE |  | 0 | 0 | 131941 |
| ACME UTD CORP | COM | 004816104 |  | 4666921 | 112592 | SH |  | SOLE |  | 0 | 0 | 112592 |
| AEHR TEST SYS | COM | 00760J108 |  | 2515403 | 194540 | SH |  | SOLE |  | 0 | 0 | 194540 |
| AIRGAIN INC | COM | 00938A104 |  | 618380 | 149007 | SH |  | SOLE |  | 0 | 0 | 149007 |
| ALICO INC | COM | 016230104 |  | 1852047 | 56587 | SH |  | SOLE |  | 0 | 0 | 56587 |
| ALPS ETF TR | ALERIAN MLP | 00162Q452 |  | 564529 | 11554 | SH |  | SOLE |  | 0 | 0 | 11554 |
| A-MARK PRECIOUS METALS INC | COM | 00181T107 |  | 2044242 | 92166 | SH |  | SOLE |  | 0 | 0 | 92166 |
| AMERIS BANCORP | COM | 03076K108 |  | 743543 | 11457 | SH |  | SOLE |  | 0 | 0 | 11457 |
| AMPLITECH GROUP INC | *W EXP 02/26/202 | 03211Q119 |  | 44038 | 83865 | SH |  | SOLE |  | 0 | 0 | 83865 |
| AMPLITECH GROUP INC | COM NEW | 03211Q200 |  | 3440186 | 1622729 | SH |  | SOLE |  | 0 | 0 | 1622729 |
| ARCHROCK INC | COM | 03957W106 |  | 4664440 | 187855 | SH |  | SOLE |  | 0 | 0 | 187855 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 469593 | 21384 | SH |  | SOLE |  | 0 | 0 | 21384 |
| ARROWMARK FINANCIAL CORP | COM | 861780104 |  | 858863 | 41035 | SH |  | SOLE |  | 0 | 0 | 41035 |
| ASCENT INDUSTRIES CO | COM | 871565107 |  | 2169677 | 172060 | SH |  | SOLE |  | 0 | 0 | 172060 |
| ASURE SOFTWARE INC | COM | 04649U102 |  | 1089695 | 111649 | SH |  | SOLE |  | 0 | 0 | 111649 |
| ATOMERA INC | COM | 04965B100 |  | 728658 | 144575 | SH |  | SOLE |  | 0 | 0 | 144575 |
| AVINO SILVER  GOLD MINES LT | COM | 053906103 |  | 2394357 | 665099 | SH |  | SOLE |  | 0 | 0 | 665099 |
| BALCHEM CORP | COM | 057665200 |  | 254720 | 1600 | SH |  | SOLE |  | 0 | 0 | 1600 |
| BARINGS BDC INC | COM | 06759L103 |  | 615296 | 67319 | SH |  | SOLE |  | 0 | 0 | 67319 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 1475284 | 3037 | SH |  | SOLE |  | 0 | 0 | 3037 |
| BIOCERES CROP SOLUTIONS CORP | SHS | G1117K114 |  | 56434 | 12625 | SH |  | SOLE |  | 0 | 0 | 12625 |
| BIOFRONTERA INC | *W EXP 10/27/202 | 09077D118 |  | 16280 | 154900 | SH |  | SOLE |  | 0 | 0 | 154900 |
| BK TECHNOLOGIES CORPORATION | COM NEW | 05587G203 |  | 4149137 | 88036 | SH |  | SOLE |  | 0 | 0 | 88036 |
| BLACKSTONE SECD LENDING FD | COMMON STOCK | 09261X102 |  | 2986030 | 94742 | SH |  | SOLE |  | 0 | 0 | 94742 |
| BLUE OWL CAPITAL CORPORATION | COM | 69121K104 |  | 996563 | 67785 | SH |  | SOLE |  | 0 | 0 | 67785 |
| BRIDGELINE DIGITAL INC | COM | 10807Q700 |  | 1951535 | 1403982 | SH |  | SOLE |  | 0 | 0 | 1403982 |
| BRT APARTMENTS CORP | COM | 055645303 |  | 1877709 | 118239 | SH |  | SOLE |  | 0 | 0 | 118239 |
| CALAMOS GLOBAL TOTAL RETURN | COM SH BEN INT | 128118106 |  | 166575 | 14225 | SH |  | SOLE |  | 0 | 0 | 14225 |
| CALLAN JMB INC | COM | 131100109 |  | 2024555 | 395035 | SH |  | SOLE |  | 0 | 0 | 395035 |
| CAPITAL SOUTHWEST CORP | COM | 140501107 |  | 380323 | 17256 | SH |  | SOLE |  | 0 | 0 | 17256 |
| CARETRUST REIT INC | COM | 14174T107 |  | 976414 | 31575 | SH |  | SOLE |  | 0 | 0 | 31575 |
| CARRIAGE SVCS INC | COM | 143905107 |  | 4908360 | 107310 | SH |  | SOLE |  | 0 | 0 | 107310 |
| CEA INDUSTRIES INC | *W EXP 02/11/202 | 86887P119 |  | 4715 | 210475 | SH |  | SOLE |  | 0 | 0 | 210475 |
| CEA INDUSTRIES INC | COM | 86887P309 |  | 107556 | 10711 | SH |  | SOLE |  | 0 | 0 | 10711 |
| CECO ENVIRONMENTAL CORP | COM | 125141101 |  | 235398 | 8315 | SH |  | SOLE |  | 0 | 0 | 8315 |
| CELSIUS HLDGS INC | COM NEW | 15118V207 |  | 1929824 | 41600 | SH |  | SOLE |  | 0 | 0 | 41600 |
| CLEARFIELD INC | COM | 18482P103 |  | 426287 | 9820 | SH |  | SOLE |  | 0 | 0 | 9820 |
| COEUR MNG INC | COM NEW | 192108504 |  | 494380 | 55799 | SH |  | SOLE |  | 0 | 0 | 55799 |
| COHERENT CORP | COM | 19247G107 |  | 7969487 | 89334 | SH |  | SOLE |  | 0 | 0 | 89334 |
| COMPOSECURE INC | COM CL A | 20459V105 |  | 4107235 | 291500 | SH |  | SOLE |  | 0 | 0 | 291500 |
| CONCRETE PUMPING HLDGS INC | COM | 206704108 |  | 353164 | 57425 | SH |  | SOLE |  | 0 | 0 | 57425 |
| CREXENDO INC | COM | 226552107 |  | 3781841 | 623038 | SH |  | SOLE |  | 0 | 0 | 623038 |
| CROWN CRAFTS INC | COM | 228309100 |  | 394000 | 133636 | SH |  | SOLE |  | 0 | 0 | 133636 |
| DATA I O CORP | COM | 237690102 |  | 66736 | 21738 | SH |  | SOLE |  | 0 | 0 | 21738 |
| DATA STORAGE CORP | *W EXP 05/18/202 | 23786R110 |  | 17403 | 145021 | SH |  | SOLE |  | 0 | 0 | 145021 |
| DATA STORAGE CORP | COM NEW | 23786R201 |  | 966318 | 281717 | SH |  | SOLE |  | 0 | 0 | 281717 |
| DLH HLDGS CORP | COM | 23335Q100 |  | 59931 | 10262 | SH |  | SOLE |  | 0 | 0 | 10262 |
| EATON VANCE FLTING RATE INC | COM | 278279104 |  | 189597 | 15192 | SH |  | SOLE |  | 0 | 0 | 15192 |
| EDIBLE GARDEN AG INC | *W EXP 99/99/999 | 28059P113 |  | 14453 | 144525 | SH |  | SOLE |  | 0 | 0 | 144525 |
| EMPIRE ST RLTY OP L P | UNIT LTD PRTNSP | 292102100 |  | 226489 | 28778 | SH |  | SOLE |  | 0 | 0 | 28778 |
| ENSIGN GROUP INC | COM | 29358P101 |  | 13116307 | 84993 | SH |  | SOLE |  | 0 | 0 | 84993 |
| EQUINOX GOLD CORP | COM | 29446Y502 |  | 2464054 | 428531 | SH |  | SOLE |  | 0 | 0 | 428531 |
| EVI INDS INC | COM | 26929N102 |  | 306079 | 14021 | SH |  | SOLE |  | 0 | 0 | 14021 |
| EVOLUTION PETE CORP | COM | 30049A107 |  | 846315 | 180067 | SH |  | SOLE |  | 0 | 0 | 180067 |
| FITLIFE BRANDS INC | COM NEW | 33817P405 |  | 210143 | 16140 | SH |  | SOLE |  | 0 | 0 | 16140 |
| FLAHERTY  CRUMRINE PFD SECS | COM | 338478100 |  | 7259476 | 445640 | SH |  | SOLE |  | 0 | 0 | 445640 |
| FRANCO NEV CORP | COM | 351858105 |  | 1852642 | 11302 | SH |  | SOLE |  | 0 | 0 | 11302 |
| FS KKR CAP CORP | COM | 302635206 |  | 3504380 | 165721 | SH |  | SOLE |  | 0 | 0 | 165721 |
| FTAI INFRASTRUCTURE INC | COMMON STOCK | 35953C106 |  | 6697628 | 1085515 | SH |  | SOLE |  | 0 | 0 | 1085515 |
| FULL HSE RESORTS INC | COM | 359678109 |  | 130571 | 35675 | SH |  | SOLE |  | 0 | 0 | 35675 |
| GEN RESTAURENT GROUP | CL A COM | 36870C104 |  | 593662 | 152221 | SH |  | SOLE |  | 0 | 0 | 152221 |
| GLADSTONE LD CORP | COM | 376549101 |  | 1276515 | 125518 | SH |  | SOLE |  | 0 | 0 | 125518 |
| GLOBAL SELF STORAGE INC | COM | 37955N106 |  | 3344560 | 626322 | SH |  | SOLE |  | 0 | 0 | 626322 |
| GLOBAL WTR RES INC | COM | 379463102 |  | 1648743 | 161800 | SH |  | SOLE |  | 0 | 0 | 161800 |
| GLOBAL X FDS | US INFR DEV ETF | 37954Y673 |  | 883968 | 20234 | SH |  | SOLE |  | 0 | 0 | 20234 |
| HA SUSTAINABLE INFRA CAP INC | COM | 41068X100 |  | 390249 | 14529 | SH |  | SOLE |  | 0 | 0 | 14529 |
| HARROW INC | COM | 415858109 |  | 1282680 | 42000 | SH |  | SOLE |  | 0 | 0 | 42000 |
| HENRY JACK  ASSOC INC | COM | 426281101 |  | 963910 | 5350 | SH |  | SOLE |  | 0 | 0 | 5350 |
| HUDBAY MINERALS INC | COM | 443628102 |  | 488612 | 46052 | SH |  | SOLE |  | 0 | 0 | 46052 |
| IDEX CORP | COM | 45167R104 |  | 1185098 | 6750 | SH |  | SOLE |  | 0 | 0 | 6750 |
| INDEPENDENCE RLTY TR INC | COM | 45378A106 |  | 2371686 | 133465 | SH |  | SOLE |  | 0 | 0 | 133465 |
| INFUSYSTEM HLDGS INC | COM | 45685K102 |  | 284544 | 45600 | SH |  | SOLE |  | 0 | 0 | 45600 |
| INTELLINETICS INC | COM | 45825X204 |  | 2749188 | 219935 | SH |  | SOLE |  | 0 | 0 | 219935 |
| INTEST CORP | COM | 461147100 |  | 1558932 | 214139 | SH |  | SOLE |  | 0 | 0 | 214139 |
| INUVO INC | COM | 46122W303 |  | 1791990 | 389563 | SH |  | SOLE |  | 0 | 0 | 389563 |
| INVESCO EXCH TRADED FD TR II | S SMLCP UTIL | 46138G409 |  | 2756578 | 49552 | SH |  | SOLE |  | 0 | 0 | 49552 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 1138770 | 34708 | SH |  | SOLE |  | 0 | 0 | 34708 |
| ISHARES TR | TIPS BD ETF | 464287176 |  | 217880 | 1980 | SH |  | SOLE |  | 0 | 0 | 1980 |
| ISHARES TR | FLTG RATE NT ETF | 46429B655 |  | 565621 | 11086 | SH |  | SOLE |  | 0 | 0 | 11086 |
| ISHARES TR | RESIDENTIAL MULT | 464288562 |  | 641594 | 7792 | SH |  | SOLE |  | 0 | 0 | 7792 |
| ISHARES TR | PFD AND INCM SEC | 464288687 |  | 6782536 | 221074 | SH |  | SOLE |  | 0 | 0 | 221074 |
| J  J SNACK FOODS CORP | COM | 466032109 |  | 205542 | 1800 | SH |  | SOLE |  | 0 | 0 | 1800 |
| JANUS DETROIT STR TR | HENDRSON AAA CL | 47103U845 |  | 4002315 | 78863 | SH |  | SOLE |  | 0 | 0 | 78863 |
| JAPAN SMALLER CAPITALIZATION | COM | 47109U104 |  | 467627 | 48509 | SH |  | SOLE |  | 0 | 0 | 48509 |
| JOINT CORP | COM | 47973J102 |  | 675725 | 58555 | SH |  | SOLE |  | 0 | 0 | 58555 |
| KAYNE ANDERSON ENERGY INFRST | COM | 486606106 |  | 888416 | 69844 | SH |  | SOLE |  | 0 | 0 | 69844 |
| KINGSWAY FINL SVCS INC | COM NEW | 496904202 |  | 3847689 | 284172 | SH |  | SOLE |  | 0 | 0 | 284172 |
| KORU MEDICAL SYSTEMS INC | COM | 759910102 |  | 52233 | 14590 | SH |  | SOLE |  | 0 | 0 | 14590 |
| KRATOS DEFENSE  SEC SOLUTIO | COM NEW | 50077B207 |  | 4272146 | 91973 | SH |  | SOLE |  | 0 | 0 | 91973 |
| LEGACY ED INC | COM | 52474R207 |  | 5395468 | 482600 | SH |  | SOLE |  | 0 | 0 | 482600 |
| LEGACY HOUSING CORP | COM | 52472M101 |  | 4223077 | 186367 | SH |  | SOLE |  | 0 | 0 | 186367 |
| LGL GROUP INC | COM | 50186A108 |  | 3927204 | 515381 | SH |  | SOLE |  | 0 | 0 | 515381 |
| LXP INDUSTRIAL TRUST | COM | 529043101 |  | 303457 | 36149 | SH |  | SOLE |  | 0 | 0 | 36149 |
| MAMAS CREATIONS INC | COM | 56146T103 |  | 6097180 | 734600 | SH |  | SOLE |  | 0 | 0 | 734600 |
| MANHATTAN BRDG CAP INC | COM | 562803106 |  | 1951538 | 356771 | SH |  | SOLE |  | 0 | 0 | 356771 |
| MARTEN TRANS LTD | COM | 573075108 |  | 359252 | 27656 | SH |  | SOLE |  | 0 | 0 | 27656 |
| META PLATFORMS INC | CL A | 30303M102 |  | 334355 | 453 | SH |  | SOLE |  | 0 | 0 | 453 |
| MILLER INDS INC TENN | COM NEW | 600551204 |  | 719808 | 16190 | SH |  | SOLE |  | 0 | 0 | 16190 |
| MOBILICOM LTD | *W EXP 08/31/202 | 60742B110 |  | 53550 | 144650 | SH |  | SOLE |  | 0 | 0 | 144650 |
| MOBILICOM LTD | SPON ADS | 60742B102 |  | 1494854 | 593196 | SH |  | SOLE |  | 0 | 0 | 593196 |
| MODIV INDUSTRIAL INC | COM STK CL C | 60784B101 |  | 1459252 | 103640 | SH |  | SOLE |  | 0 | 0 | 103640 |
| MODULAR MED INC | COM NEW | 60785L207 |  | 2316831 | 3109840 | SH |  | SOLE |  | 0 | 0 | 3109840 |
| M-TRON INDS INC | *W EXP 04/25/202 | 55380K125 |  | 90302 | 87130 | SH |  | SOLE |  | 0 | 0 | 87130 |
| M-TRON INDS INC | COM | 55380K109 |  | 3657654 | 87087 | SH |  | SOLE |  | 0 | 0 | 87087 |
| MULTISENSOR AI HOLDINGS INC | COM | 456948108 |  | 346242 | 579000 | SH |  | SOLE |  | 0 | 0 | 579000 |
| NANO DIMENSION LTD | SPONSORD ADS NEW | 63008G203 |  | 156330 | 96500 | SH |  | SOLE |  | 0 | 0 | 96500 |
| NEOGENOMICS INC | COM NEW | 64049M209 |  | 346385 | 47385 | SH |  | SOLE |  | 0 | 0 | 47385 |
| NEPHROS INC | COM | 640671400 |  | 536285 | 131121 | SH |  | SOLE |  | 0 | 0 | 131121 |
| NETCAPITAL INC | *W EXP 07/12/202 | 64113L111 |  | 7521 | 203248 | SH |  | SOLE |  | 0 | 0 | 203248 |
| NEUROONE MED TECHNOLOGIES CO | COM NEW | 64130M209 |  | 1257976 | 1854600 | SH |  | SOLE |  | 0 | 0 | 1854600 |
| NEW MTN FIN CORP | COM | 647551100 |  | 289841 | 27473 | SH |  | SOLE |  | 0 | 0 | 27473 |
| NEWMONT CORP | COM | 651639106 |  | 1011632 | 17364 | SH |  | SOLE |  | 0 | 0 | 17364 |
| NEWTEKONE INC | COM NEW | 652526203 |  | 1419164 | 125812 | SH |  | SOLE |  | 0 | 0 | 125812 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 1562228 | 22504 | SH |  | SOLE |  | 0 | 0 | 22504 |
| OIL DRI CORP AMER | COM | 677864100 |  | 6469021 | 109663 | SH |  | SOLE |  | 0 | 0 | 109663 |
| ONE STOP SYS INC | COM | 68247W109 |  | 3364893 | 947857 | SH |  | SOLE |  | 0 | 0 | 947857 |
| OOMA INC | COM | 683416101 |  | 326770 | 25331 | SH |  | SOLE |  | 0 | 0 | 25331 |
| OR ROYALTIES INC | COM SHS | 68390D106 |  | 5036924 | 195913 | SH |  | SOLE |  | 0 | 0 | 195913 |
| PACER FDS TR | INDUSTRIAL RELET | 69374H766 |  | 570584 | 15424 | SH |  | SOLE |  | 0 | 0 | 15424 |
| PAYSIGN INC | COM | 70451A104 |  | 261677 | 36344 | SH |  | SOLE |  | 0 | 0 | 36344 |
| PEMBINA PIPELINE CORP | COM | 706327103 |  | 1114348 | 29708 | SH |  | SOLE |  | 0 | 0 | 29708 |
| PENNANT GROUP INC | COM | 70805E109 |  | 791025 | 26500 | SH |  | SOLE |  | 0 | 0 | 26500 |
| PERFECT MOMENT LTD | COM SHS | 713715100 |  | 1188000 | 4400000 | SH |  | SOLE |  | 0 | 0 | 4400000 |
| PLYMOUTH INDL REIT INC | COM | 729640102 |  | 479668 | 29428 | SH |  | SOLE |  | 0 | 0 | 29428 |
| POLAR PWR INC | COM NEW | 73102V204 |  | 671658 | 386032 | SH |  | SOLE |  | 0 | 0 | 386032 |
| POSTAL REALTY TRUST INC | CL A | 73757R102 |  | 2297498 | 155974 | SH |  | SOLE |  | 0 | 0 | 155974 |
| POTLATCHDELTIC CORPORATION | COM | 737630103 |  | 2439467 | 63577 | SH |  | SOLE |  | 0 | 0 | 63577 |
| POWERFLEET INC | COM | 73931J109 |  | 1395402 | 323759 | SH |  | SOLE |  | 0 | 0 | 323759 |
| PRO-DEX INC COLO | COM NEW | 74265M205 |  | 462410 | 10596 | SH |  | SOLE |  | 0 | 0 | 10596 |
| PROSHARES TR | PSHS ULTRUSS2000 | 74347R842 |  | 676866 | 17960 | SH |  | SOLE |  | 0 | 0 | 17960 |
| PURE CYCLE CORP | COM NEW | 746228303 |  | 3689203 | 344142 | SH |  | SOLE |  | 0 | 0 | 344142 |
| PYXIS TANKERS INC | *W EXP 10/13/202 | Y71726122 |  | 1424 | 70800 | SH |  | SOLE |  | 0 | 0 | 70800 |
| QUAKER HOUGHTON | COM | 747316107 |  | 1967122 | 17573 | SH |  | SOLE |  | 0 | 0 | 17573 |
| RED VIOLET INC | COM | 75704L104 |  | 377856 | 7680 | SH |  | SOLE |  | 0 | 0 | 7680 |
| RESEARCH SOLUTIONS INC | COM | 761025105 |  | 1784084 | 621632 | SH |  | SOLE |  | 0 | 0 | 621632 |
| RIMINI STR INC DEL | COM | 76674Q107 |  | 923191 | 244878 | SH |  | SOLE |  | 0 | 0 | 244878 |
| ROYAL GOLD INC | COM | 780287108 |  | 2919778 | 16418 | SH |  | SOLE |  | 0 | 0 | 16418 |
| ROYCE MICRO-CAP TR INC | COM | 780915104 |  | 1423585 | 153901 | SH |  | SOLE |  | 0 | 0 | 153901 |
| RUNWAY GROWTH FINANCE CORP | COM | 78163D100 |  | 2957339 | 275614 | SH |  | SOLE |  | 0 | 0 | 275614 |
| SANDSTORM GOLD LTD | COM NEW | 80013R206 |  | 235715 | 25076 | SH |  | SOLE |  | 0 | 0 | 25076 |
| SANGOMA TECHNOLOGIES CORP | COM NEW | 80100R408 |  | 450215 | 74380 | SH |  | SOLE |  | 0 | 0 | 74380 |
| SARATOGA INVT CORP | COM NEW | 80349A208 |  | 392956 | 15845 | SH |  | SOLE |  | 0 | 0 | 15845 |
| SIGMATRON INTL INC | COM | 82661L101 |  | 42340 | 14208 | SH |  | SOLE |  | 0 | 0 | 14208 |
| SLR INVESTMENT CORP | COM | 83413U100 |  | 216034 | 13385 | SH |  | SOLE |  | 0 | 0 | 13385 |
| SMITH MIDLAND CORP | COM | 832156103 |  | 2740879 | 81671 | SH |  | SOLE |  | 0 | 0 | 81671 |
| SONO TEK CORP | COM | 835483108 |  | 151612 | 40406 | SH |  | SOLE |  | 0 | 0 | 40406 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 399937 | 1312 | SH |  | SOLE |  | 0 | 0 | 1312 |
| STANDARD LITHIUM LTD | COM | 853606101 |  | 37966 | 19370 | SH |  | SOLE |  | 0 | 0 | 19370 |
| TARGA RES CORP | COM | 87612G101 |  | 1437273 | 8256 | SH |  | SOLE |  | 0 | 0 | 8256 |
| TECOGEN INC NEW | COM NEW | 87876P201 |  | 4240358 | 623582 | SH |  | SOLE |  | 0 | 0 | 623582 |
| TORTOISE CAPITAL SERIES TRUS | ESSENTIAL ENERGY | 890930100 |  | 5948166 | 290154 | SH |  | SOLE |  | 0 | 0 | 290154 |
| TORTOISE ENERGY INFRA CORP | COM | 89147L886 |  | 734149 | 16727 | SH |  | SOLE |  | 0 | 0 | 16727 |
| TRANSACT TECHNOLOGIES INC | COM | 892918103 |  | 435276 | 120575 | SH |  | SOLE |  | 0 | 0 | 120575 |
| TUCOWS INC | COM NEW | 898697206 |  | 310236 | 15740 | SH |  | SOLE |  | 0 | 0 | 15740 |
| U S PHYSICAL THERAPY | COM | 90337L108 |  | 3770726 | 48219 | SH |  | SOLE |  | 0 | 0 | 48219 |
| UMH PPTYS INC | COM | 903002103 |  | 822459 | 48985 | SH |  | SOLE |  | 0 | 0 | 48985 |
| URBAN-GRO INC | COM NEW | 91704K202 |  | 67343 | 223729 | SH |  | SOLE |  | 0 | 0 | 223729 |
| USA COMPRESSION PARTNERS LP | COMUNIT LTDPAR | 90290N109 |  | 4558125 | 187500 | SH |  | SOLE |  | 0 | 0 | 187500 |
| UTAH MED PRODS INC | COM | 917488108 |  | 1144704 | 20007 | SH |  | SOLE |  | 0 | 0 | 20007 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 1320502 | 25365 | SH |  | SOLE |  | 0 | 0 | 25365 |
| VANECK ETF TRUST | JUNIOR GOLD MINE | 92189F791 |  | 4601229 | 68076 | SH |  | SOLE |  | 0 | 0 | 68076 |
| VANECK ETF TRUST | BDC INCOME ETF | 92189F411 |  | 8171828 | 501955 | SH |  | SOLE |  | 0 | 0 | 501955 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 |  | 327652 | 3679 | SH |  | SOLE |  | 0 | 0 | 3679 |
| VANGUARD SCOTTSDALE FDS | MTG-BKD SECS ETF | 92206C771 |  | 1894380 | 40880 | SH |  | SOLE |  | 0 | 0 | 40880 |
| VANGUARD WORLD FD | UTILITIES ETF | 92204A876 |  | 1712147 | 9700 | SH |  | SOLE |  | 0 | 0 | 9700 |
| VENU HLDG CORP | COM | 92333E104 |  | 2323102 | 197040 | SH |  | SOLE |  | 0 | 0 | 197040 |
| VICI PPTYS INC | COM | 925652109 |  | 2528953 | 77011 | SH |  | SOLE |  | 0 | 0 | 77011 |
| VIEMED HEALTHCARE INC | COM | 92663R105 |  | 2324027 | 336328 | SH |  | SOLE |  | 0 | 0 | 336328 |
| WELLTOWER INC | COM | 95040Q104 |  | 2182044 | 14194 | SH |  | SOLE |  | 0 | 0 | 14194 |
| WHEATON PRECIOUS METALS CORP | COM | 962879102 |  | 5217031 | 58096 | SH |  | SOLE |  | 0 | 0 | 58096 |
| WHERE FOOD COMES FROM INC | COM NEW | 96327X200 |  | 693606 | 62713 | SH |  | SOLE |  | 0 | 0 | 62713 |
| WHITEHORSE FIN INC | COM | 96524V106 |  | 218850 | 24070 | SH |  | SOLE |  | 0 | 0 | 24070 |
| WILLDAN GROUP INC | COM | 96924N100 |  | 8169932 | 130698 | SH |  | SOLE |  | 0 | 0 | 130698 |

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