# EDGAR Filing Document

**Accession Number:** 0001090372
**File Stem:** 0001145549-25-047234
**Filing Date:** 2025-7
**Character Count:** 28038
**Document Hash:** 048e8f90ee3899d472e8977f61f6fad7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-047234.hdr.sgml**: 20250723

**ACCESSION NUMBER**: 0001145549-25-047234

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250723

**DATE AS OF CHANGE**: 20250723

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Jacob Funds Inc.
- **CENTRAL INDEX KEY:** 0001090372

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09447
- **FILM NUMBER:** 251142846

**BUSINESS ADDRESS:**
- **STREET 1:** 727 2ND STREET, #106
- **CITY:** HERMOSA BEACH
- **STATE:** CA
- **ZIP:** 90254
- **BUSINESS PHONE:** 310-421-4942

**MAIL ADDRESS:**
- **STREET 1:** 727 2ND STREET, #106
- **CITY:** HERMOSA BEACH
- **STATE:** CA
- **ZIP:** 90254

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** JACOB INTERNET FUND INC
- **DATE OF NAME CHANGE:** 20060106

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** JACOB INTERNET FUND
- **DATE OF NAME CHANGE:** 20060106

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** JACOB INTERNET FUND INC
- **DATE OF NAME CHANGE:** 19990713

## Series and Classes Contracts Data

### Jacob Discovery Fund (Series ID: S000038991)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000119838 | Investor Class      | JMCGX           |
| C000119839 | Institutional Class | JMIGX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Jacob Discovery Fund** | **Jacob Discovery Fund** | **Jacob Discovery Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **May 31, 2025 (Unaudited)** | **May 31, 2025 (Unaudited)** | **May 31, 2025 (Unaudited)** |
| **COMMON STOCKS - 98.0%** | **Shares** | **Value**  |
| **Advertising - 2.8%** | **Advertising - 2.8%** | |
| IZEA Worldwide, Inc. <sup>(a)</sup> | 119650 | $344592 |
| **Arrangement of Transportation of Freight & Cargo - 3.7%** | **Arrangement of Transportation of Freight & Cargo - 3.7%** |  |
| Freightos Ltd. <sup>(a)</sup> | 220000 | 462000 |
| **Auto Dealers & Gasoline Stations - 2.0%** | **Auto Dealers & Gasoline Stations - 2.0%** |  |
| TrueCar, Inc. <sup>(a)</sup> | 170000 | 246500 |
| **Biological Products (No Diagnostic Substances) - 1.4%** | **Biological Products (No Diagnostic Substances) - 1.4%** |  |
| Precision BioSciences, Inc. <sup>(a)</sup> | 37089 | 179140 |
| **Business Services, nec - 9.8%** | **Business Services, nec - 9.8%** |  |
| comScore, Inc. <sup>(a)</sup> | 44305 | 203360 |
| OptimizeRx Corp. <sup>(a)</sup> | 62654 | 760620 |
| Zhihu, Inc. - ADR <sup>(a)</sup> | 65366 | 249698 |
|  |  | 1213678 |
| **Calculating & Accounting Machines (No Electronic Computers) - 4.3%** | **Calculating & Accounting Machines (No Electronic Computers) - 4.3%** |  |
| Cantaloupe, Inc. <sup>(a)</sup> | 64325 | 538400 |
| **Communications Equipment - 5.1%** | **Communications Equipment - 5.1%** |  |
| Powerfleet, Inc. NJ <sup>(a)</sup> | 140121 | 637551 |
| **Computer Peripheral Equipment - 2.6%** | **Computer Peripheral Equipment - 2.6%** |  |
| Identiv, Inc. <sup>(a)</sup> | 99555 | 325545 |
| **Computer Processing & Data Preparation - 5.4%** | **Computer Processing & Data Preparation - 5.4%** |  |
| DouYu International Holdings Ltd. - ADR | 11000 | 72160 |
| HUYA, Inc. - ADR | 26000 | 98540 |
| Nextdoor Holdings, Inc. <sup>(a)</sup> | 74000 | 113220 |
| ReposiTrak, Inc. <sup>(b)</sup> | 17512 | 382112 |
|  |  | 666032 |
| **Consumer Credit Reporting, Collection Agencies - 1.3%** | **Consumer Credit Reporting, Collection Agencies - 1.3%** |  |
| CreditRiskMonitor.com, Inc. <sup>(a)</sup> | 66200 | 158880 |
| **Functions Related to Depository Banking, nec - 4.6%** | **Functions Related to Depository Banking, nec - 4.6%** |  |
| Usio, Inc. <sup>(a)</sup> | 410100 | 578241 |
| **Gold and Silver Ores - 4.1%** | **Gold and Silver Ores - 4.1%** |  |
| Solitario Resources Corp. <sup>(a)</sup> | 799300 | 511552 |
| **Help Supply Services - 3.2%** | **Help Supply Services - 3.2%** |  |
| Hudson Global, Inc. <sup>(a)</sup> | 45954 | 401178 |
| **Industrial Organic Chemicals - 1.7%** | **Industrial Organic Chemicals - 1.7%** |  |
| Codexis, Inc. <sup>(a)</sup> | 93875 | 215912 |
| **Medical Laboratories - 4.4%** | **Medical Laboratories - 4.4%** |  |
| CareDx, Inc. <sup>(a)</sup> | 13800 | 234462 |
| Celcuity, Inc. <sup>(a)</sup> | 29209 | 310492 |
|  |  | 544954 |
| **Metal Mining - 2.4%** | **Metal Mining - 2.4%** |  |
| Western Copper & Gold Corp. <sup>(a)</sup> | 259950 | 296343 |
| **Mining & Quarrying of Nonmetallic Mineral (No Fuels) - 1.6%** | **Mining & Quarrying of Nonmetallic Mineral (No Fuels) - 1.6%** |  |
| Azimut Exploration, Inc. <sup>(a)(b)</sup> | 462480 | 195500 |
| **Miscellaneous Amusement & Recreation - 3.9%** | **Miscellaneous Amusement & Recreation - 3.9%** |  |
| Inspired Entertainment, Inc. <sup>(a)</sup> | 61336 | 479647 |
| **Motion Picture & Video Tape Production - 5.3%** | **Motion Picture & Video Tape Production - 5.3%** |  |
| Thunderbird Entertainment Group, Inc. <sup>(a)</sup> | 625135 | 656392 |
| **Patent Owners & Lessors - 1.9%** | **Patent Owners & Lessors - 1.9%** |  |
| Immersion Corp. | 32182 | 242009 |
| **Personal Services - 3.1%** | **Personal Services - 3.1%** |  |
| WM Technology, Inc. <sup>(a)</sup> | 371788 | 386660 |
| **Pharmaceutical Preparations - 13.8%** | **Pharmaceutical Preparations - 13.8%** |  |
| Arcturus Therapeutics Holdings, Inc. <sup>(a)</sup> | 5870 | 73551 |
| Cartesian Therapeutics, Inc. <sup>(a)(b)</sup> | 7000 | 66920 |
| DiaMedica Therapeutics, Inc. <sup>(a)</sup> | 85730 | 352350 |
| Esperion Therapeutics, Inc. <sup>(a)(b)</sup> | 150000 | 127470 |
| Harrow, Inc. <sup>(a)</sup> | 20547 | 577576 |
| Heron Therapeutics, Inc. <sup>(a)(b)</sup> | 81960 | 154085 |
| Ideaya Biosciences, Inc. <sup>(a)</sup> | 12335 | 245343 |
| SCYNEXIS, Inc. <sup>(a)</sup> | 140000 | 122514 |
|  |  | 1719809 |
| **Prepackaged Software - 0.1%** | **Prepackaged Software - 0.1%** |  |
| Leafly Holdings, Inc. <sup>(a)</sup> | 72165 | 11914 |
| **Real Estate - 1.3%** | **Real Estate - 1.3%** |  |
| Porch Group, Inc. <sup>(a)</sup> | 18050 | 164616 |
| **Semiconductors & Related Devices - 1.8%** | **Semiconductors & Related Devices - 1.8%** |  |
| Atomera, Inc. <sup>(a)(b)</sup> | 36800 | 226320 |
| **Surgical & Medical Instruments & Apparatus - 6.4%** | **Surgical & Medical Instruments & Apparatus - 6.4%** |  |
| Alphatec Holdings, Inc. <sup>(a)</sup> | 38200 | 474826 |
| Cerus Corp. <sup>(a)</sup> | 80000 | 101600 |
| Tela Bio, Inc. <sup>(a)(b)</sup> | 154775 | 215137 |
|  |  | 791563 |
| **TOTAL COMMON STOCKS** (Cost $17,570,865) | **TOTAL COMMON STOCKS** (Cost $17,570,865) | 12194928 |
| **PREFERRED STOCKS - 0.1%** | **Shares** | **Value**  |
| **Advertising Agencies - 0.1%** | **Advertising Agencies - 0.1%** |  |
|  SRAX INC-PFD, 0.00% | 368541 | 8808 |
| **TOTAL PREFERRED STOCKS** (Cost $18,017) | **TOTAL PREFERRED STOCKS** (Cost $18,017) | 8808 |
| **SHORT-TERM INVESTMENTS - 10.3%** |  | **Value**  |
| **Investments Purchased with Proceeds from Securities Lending - 8.4%** | **<u>Shares</u>** |  |
| First American Government Obligations Fund - Class X, 4.23% <sup>(b)(c)</sup> | 1049648 | 1049648 |
| **Money Market Funds - 1.9%** | **<u>Shares</u>** |  |
| First American Government Obligations Fund - Class X, 4.23% <sup>(c)</sup> | 237100 | 237100 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $1,286,748) | **TOTAL SHORT-TERM INVESTMENTS** (Cost $1,286,748) | 1286748 |
| **TOTAL INVESTMENTS - 108.4% (**Cost $18,875,630**)** | **TOTAL INVESTMENTS - 108.4% (**Cost $18,875,630**)** | 13490484 |
| Liabilities in Excess of Other Assets - (8.4)% | Liabilities in Excess of Other Assets - (8.4)% | (1046790) |
| **TOTAL NET ASSETS - 100.0%** |  | $12443694 |
| two | two | –% |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |
| Schedule of Investments is classified using the U.S. Securities and Exchange Commission's Standard Industrial Classification (SIC) Code List. | Schedule of Investments is classified using the U.S. Securities and Exchange Commission's Standard Industrial Classification (SIC) Code List. | Schedule of Investments is classified using the U.S. Securities and Exchange Commission's Standard Industrial Classification (SIC) Code List. |

---

ADR - American Depositary Receipt<br>

(a) Non-income producing security.

(b) All or a portion of this security is on loan as of May 31, 2025. The fair value of these securities was $942,983 which represented 7.6% of net assets.

(c) The rate shown represents the 7-day annualized effective yield as of May 31, 2025.

------

#### <br>

#### Summary of Fair Value Disclosure as of May 31, 2025 (Unaudited)
Jacob Discovery Fund (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of May 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | 12036048 | 158880 | – | 12194928 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Preferred Stocks | – | – | 8808 | 8808 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Investments Purchased with Proceeds from Securities Lending | 1049648 | – | – | 1049648 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 237100 | – | – | 237100 |
| Total Investments | 13322796 | 158880 | 8808 | 13490484 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Jacob Funds Inc.

- **b. Investment Company Act file number:** 811-09447

- **c. CIK number of Registrant:** 0001090372

- **d. LEI of Registrant:** 5493006PQB1DQR6P2S14

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 727 2nd Street

  - **City:** Hermosa Beach

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 90254

  - **Telephone number:** 424-237-2164

**Item A.2. Information about the Series.**

- **a. Name of Series:** Jacob Discovery Fund

- **b. EDGAR series identifier (if any):** S000038991

- **c. LEI of Series:** 5493000WWZH4O2SJD714

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-05-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $13692119.39

**Total Liabilities:** $1242786.77

**Net Assets:** $12449332.62

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000119838 | -10.60%              | -1.33%               | 1.21%                |
| Class ID C000119839 | -10.57%              | -1.32%               | 1.21%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-43542.07               | $-1472086.70                               |
| Month 2  | $-62946.97               | $-100914.67                                |
| Month 3  | $-549832.17              | $722816.21                                 |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                           | Title                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Codexis Inc                    | Codexis Inc                                | CUSIP: 192005106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     93875 | NS      | $215912.50    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| comScore Inc                   | comScore Inc                               | CUSIP: 20564W204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     44305 | NS      | $203359.95    | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| CreditRiskMonitor.com Inc      | CreditRiskMonitor.com Inc                  | CUSIP: 225426105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     66200 | NS      | $158880.00    | 1.28%             |  |  |  | No            |                  2 | On Loan: No      |
| DiaMedica Therapeutics Inc     | DiaMedica Therapeutics Inc                 | CUSIP: 25253X207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     85730 | NS      | $352350.30    | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| DouYu International Holdings L | DouYu International Holdings Ltd           | CUSIP: 25985W204<br>LEI: 549300M2ADOHTIMACT54 | Long             | EC               | CORP              | CN        |     11000 | NS      | $72160.00     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Esperion Therapeutics Inc      | Esperion Therapeutics Inc                  | CUSIP: 29664W105<br>LEI: 549300OFU56UKEWVUS92 | Long             | EC               | CORP              | US        |    150000 | NS      | $127470.00    | 1.02%             |  |  |  | No            |                  1 | On Loan: —       |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |   1292260 | NS      | $1292259.60   | 10.38%            |  |  |  | No            |                  1 | On Loan: No      |
| Harrow Inc                     | Harrow Inc                                 | CUSIP: 415858109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20547 | NS      | $577576.17    | 4.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Heron Therapeutics Inc         | Heron Therapeutics Inc                     | CUSIP: 427746102<br>LEI: 549300DR2I1DOPD2IX53 | Long             | EC               | CORP              | US        |     81960 | NS      | $154084.80    | 1.24%             |  |  |  | No            |                  1 | On Loan: —       |
| Hudson Global Inc              | Hudson Global Inc                          | CUSIP: 443787205<br>LEI: 54930073WVI9H7ILKL69 | Long             | EC               | CORP              | US        |     45954 | NS      | $401178.42    | 3.22%             |  |  |  | No            |                  1 | On Loan: No      |
| HUYA Inc                       | HUYA Inc                                   | CUSIP: 44852D108<br>LEI: 549300WPEZ00T1MABE80 | Long             | EC               | CORP              | CN        |     26000 | NS      | $98540.00     | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Ideaya Biosciences Inc         | Ideaya Biosciences Inc                     | CUSIP: 45166A102<br>LEI: 549300ULW08F62IJML11 | Long             | EC               | CORP              | US        |     12335 | NS      | $245343.15    | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Identiv Inc                    | Identiv Inc                                | CUSIP: 45170X205<br>LEI: 5299008KH3C585Z0DS77 | Long             | EC               | CORP              | US        |     99555 | NS      | $325544.85    | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Immersion Corp                 | Immersion Corp                             | CUSIP: 452521107<br>LEI: 529900AKNC1UAMQ2YB35 | Long             | EC               | CORP              | US        |     32182 | NS      | $242008.64    | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Inspired Entertainment Inc     | Inspired Entertainment Inc                 | CUSIP: 45782N108<br>LEI: 549300ZUGYK6NBIU6D69 | Long             | EC               | CORP              | US        |     61336 | NS      | $479647.52    | 3.85%             |  |  |  | No            |                  1 | On Loan: No      |
| IZEA Worldwide Inc             | IZEA Worldwide Inc                         | CUSIP: 46604H204<br>LEI: 549300ZNN8UBT1IUHO61 | Long             | EC               | CORP              | US        |    119650 | NS      | $344592.00    | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Leafly Holdings Inc            | Leafly Holdings Inc                        | CUSIP: 52178J303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     72165 | NS      | $11914.44     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Nextdoor Holdings Inc          | Nextdoor Holdings Inc                      | CUSIP: 65345M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     74000 | NS      | $113220.00    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| OptimizeRx Corp                | OptimizeRx Corp                            | CUSIP: 68401U204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     65654 | NS      | $797039.56    | 6.40%             |  |  |  | No            |                  1 | On Loan: No      |
| ReposiTrak Inc                 | ReposiTrak Inc                             | CUSIP: 700215304<br>LEI: 5299008X1VJFCKZ94E34 | Long             | EC               | CORP              | US        |     17512 | NS      | $382111.84    | 3.07%             |  |  |  | No            |                  1 | On Loan: —       |
| Porch Group Inc                | Porch Group Inc                            | CUSIP: 733245104<br>LEI: 549300NXEI7CVW8IXQ90 | Long             | EC               | CORP              | US        |     18050 | NS      | $164616.00    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Powerfleet Inc NJ              | Powerfleet Inc NJ                          | CUSIP: 73931J109<br>LEI: 2549007NKEFPYEH4MF81 | Long             | EC               | CORP              | US        |    140121 | NS      | $637550.55    | 5.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Precision BioSciences Inc      | Precision BioSciences Inc                  | CUSIP: 74019P207<br>LEI: 549300I5QGRS3BLHZH41 | Long             | EC               | CORP              | US        |     37089 | NS      | $179139.87    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| SRAX INC-PFD                   | SRAX INC-PFD                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    368541 | NS      | $8808.13      | 0.07%             |  |  |  | No            |                  3 | On Loan: No      |
| SCYNEXIS Inc                   | SCYNEXIS Inc                               | CUSIP: 811292200<br>LEI: 529900XBHFGMNTU70154 | Long             | EC               | CORP              | US        |    140000 | NS      | $122514.00    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Solitario Resources Corp       | Solitario Resources Corp                   | CUSIP: 8342EP107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    799300 | NS      | $511552.00    | 4.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Tela Bio Inc                   | Tela Bio Inc                               | CUSIP: 872381108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    154775 | NS      | $215137.25    | 1.73%             |  |  |  | No            |                  1 | On Loan: —       |
| Thunderbird Entertainment Grou | Thunderbird Entertainment Group Inc        | CUSIP: 88605U107<br>LEI: 549300UXXHTSX6VCMJ56 | Long             | EC               | CORP              | CA        |    625135 | NS      | $656391.75    | 5.27%             |  |  |  | No            |                  1 | On Loan: No      |
| TrueCar Inc                    | TrueCar Inc                                | CUSIP: 89785L107<br>LEI: 549300KK16488YXWVE52 | Long             | EC               | CORP              | US        |    170000 | NS      | $246500.00    | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Usio Inc                       | Usio Inc                                   | CUSIP: 917313108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    410100 | NS      | $578241.00    | 4.64%             |  |  |  | No            |                  1 | On Loan: No      |
| WM Technology Inc              | WM Technology Inc                          | CUSIP: 92971A109<br>LEI: 549300APSNIYJ4PTIL34 | Long             | EC               | CORP              | US        |    371788 | NS      | $386659.52    | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Copper & Gold Corp     | Western Copper & Gold Corp                 | CUSIP: 95805V108<br>LEI: 529900DF4NXAM6X99014 | Long             | EC               | CORP              | CA        |    259950 | NS      | $296343.00    | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Zhihu Inc                      | Zhihu Inc                                  | CUSIP: 98955N207<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     65366 | NS      | $249698.12    | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Freightos Ltd                  | Freightos Ltd                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |    220000 | NS      | $462000.00    | 3.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphatec Holdings Inc          | Alphatec Holdings Inc                      | CUSIP: 02081G201<br>LEI: 549300EZE8CQ8K65FS24 | Long             | EC               | CORP              | US        |     38200 | NS      | $474826.00    | 3.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcturus Therapeutics Holdings | Arcturus Therapeutics Holdings Inc         | CUSIP: 03969T109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5870 | NS      | $73551.10     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Atomera Inc                    | Atomera Inc                                | CUSIP: 04965B100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36800 | NS      | $226320.00    | 1.82%             |  |  |  | No            |                  1 | On Loan: —       |
| Cantaloupe Inc                 | Cantaloupe Inc                             | CUSIP: 138103106<br>LEI: 529900O54DBQQVWO9Q85 | Long             | EC               | CORP              | US        |     64325 | NS      | $538400.25    | 4.32%             |  |  |  | No            |                  1 | On Loan: No      |
| CareDx Inc                     | CareDx Inc                                 | CUSIP: 14167L103<br>LEI: 549300NQOFKL9NON0U06 | Long             | EC               | CORP              | US        |     13800 | NS      | $234462.00    | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Celcuity Inc                   | Celcuity Inc                               | CUSIP: 15102K100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29209 | NS      | $310491.67    | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Cerus Corp                     | Cerus Corp                                 | CUSIP: 157085101<br>LEI: 254900BIEY9XIDA04Q21 | Long             | EC               | CORP              | US        |     80000 | NS      | $101600.00    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Azimut Exploration Inc         | Azimut Exploration Inc                     | CUSIP: 301950101<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    462480 | NS      | $195499.55    | 1.57%             |  |  |  | No            |                  1 | On Loan: —       |
| Cartesian Therapeutics Inc     | Cartesian Therapeutics Inc                 | CUSIP: 816212302<br>LEI: 529900NMN0LACZOL7C43 | Long             | EC               | CORP              | US        |      7000 | NS      | $66920.00     | 0.54%             |  |  |  | No            |                  1 | On Loan: —       |

### Signature

**Date Signed:** 2025-07-21

**Name of Applicant:** Jacob Funds Inc.

**Signature:** /s/ Ryan Jacob

**Name of Signer:** Jacob Funds Inc.

**Title:** President/Principal Executive Officer