| COLUMN 1 | COLUMN 2 | COLUMN 3 | COLUMN 4 | COLUMN 5 | COLUMN 6 | COLUMN 7 | COLUMN 8 |
| | | VALUE | SHRS OR | SH/ | PUT/ | INVESTMENT | OTHER | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | (x$1000) | PRN AMT | PRN | CALL | DISCRETION | MANAGER | SOLE | SHARED | NONE |
| ACME UTD CORP | COM | 004816104 | 3,090,913 | 123,253 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 123,253 |
| AIRGAIN INC | COM | 00938A104 | 964,597 | 178,629 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 178,629 |
| A-MARK PRECIOUS METALS INC | COM | 00181T107 | 3,383,563 | 90,385 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 90,385 |
| AMERIS BANCORP | COM | 03076K108 | 436,291 | 12,698 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 12,698 |
| AMPLITECH GROUP INC | *W EXP 02/26/202 | 03211Q119 | 37,260 | 90,000 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 90,000 |
| AMPLITECH GROUP INC | COM NEW | 03211Q200 | 760,517 | 329,228 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 329,228 |
| ARCHROCK INC | COM | 03957W106 | 2,589,232 | 252,608 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 252,608 |
| ARES CAPITAL CORP | COM | 04010L103 | 426,252 | 22,685 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 22,685 |
| ARES COML REAL ESTATE CORP | COM | 04013V108 | 1,305,551 | 124,340 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 124,340 |
| ARROWMARK FINANCIAL CORP | COM | 861780104 | 718,445 | 43,111 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 43,111 |
| ASURE SOFTWARE INC | COM | 04649U102 | 1,770,496 | 145,600 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 145,600 |
| ATOMERA INC | COM | 04965B100 | 1,600,525 | 182,500 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 182,500 |
| AVINO SILVER & GOLD MINES LT | COM | 053906103 | 560,567 | 849,600 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 849,600 |
| BALCHEM CORP | COM | 057665200 | 607,994 | 4,510 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 4,510 |
| BARINGS BDC INC | COM | 06759L103 | 550,933 | 70,272 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 70,272 |
| BEAM GLOBAL | COM | 07373B109 | 667,110 | 64,455 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 64,455 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 | 1,239,535 | 3,635 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 3,635 |
| BIOCERES CROP SOLUTIONS CORP | SHS | G1117K114 | 274,816 | 20,570 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 20,570 |
| BIOFRONTERA INC | COM | 09077D100 | 99,424 | 191,200 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 191,200 |
| BIOFRONTERA INC | *W EXP 10/27/202 | 09077D118 | 22,110 | 201,000 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 201,000 |
| BK TECHNOLOGIES CORPORATION | COM NEW | 05587G203 | 2,021,844 | 122,092 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 122,092 |
| BLACKSTONE SECD LENDING FD | COMMON STOCK | 09261X102 | 2,785,670 | 99,369 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 99,369 |
| BLUEROCK HOMES TRUST INC | COM CL A | 09631H100 | 274,671 | 17,018 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 17,018 |
| BOXLIGHT CORP | COM CL A NEW | 103197208 | 193,787 | 87,291 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 87,291 |
| BRAEMAR HOTELS & RESORTS INC | COM | 10482B101 | 1,418,458 | 348,530 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 348,530 |
| BRT APARTMENTS CORP | COM | 055645303 | 2,446,711 | 122,087 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 122,087 |
| CALAMOS GLOBAL TOTAL RETURN | COM SH BEN INT | 128118106 | 137,983 | 14,225 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 14,225 |
| CAPITAL SOUTHWEST CORP | COM | 140501107 | 372,906 | 18,910 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 18,910 |
| CARETRUST REIT INC | COM | 14174T107 | 669,172 | 33,226 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 33,226 |
| CARRIAGE SVCS INC | COM | 143905107 | 3,743,207 | 115,282 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 115,282 |
| CEA INDUSTRIES INC | *W EXP 02/11/202 | 86887P119 | 10,103 | 248,825 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 248,825 |
| CEA INDUSTRIES INC | COM NEW | 86887P200 | 207,101 | 277,875 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 277,875 |
| CELSIUS HLDGS INC | COM NEW | 15118V207 | 5,475,273 | 36,700 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 36,700 |
| CHICKEN SOUP FOR THE SOUL EN | CL A | 16842Q100 | 25,988 | 21,930 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 21,930 |
| CLEARFIELD INC | COM | 18482P103 | 456,265 | 9,636 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 9,636 |
| COHERENT CORP | COM | 19247G107 | 5,750,544 | 112,800 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 112,800 |
| CONCRETE PUMPING HLDGS INC | COM | 206704108 | 516,530 | 64,325 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 64,325 |
| CONTAINER STORE GROUP INC | COM | 210751103 | 218,387 | 69,550 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 69,550 |
| CREATIVE REALITIES INC | *W EXP 11/19/202 | 22530J119 | 717 | 88,475 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 88,475 |
| CREXENDO INC | COM | 226552107 | 1,075,765 | 611,230 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 611,230 |
| CROWN CRAFTS INC | COM | 228309100 | 864,655 | 169,863 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 169,863 |
| CROWN ELECTROKINETICS CORP | COM NEW | 228339206 | 163,941 | 1,250,500 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 1,250,500 |
| DATA I O CORP | COM | 237690102 | 96,204 | 22,425 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 22,425 |
| DATA STORAGE CORP | *W EXP 05/18/202 | 23786R110 | 30,799 | 171,200 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 171,200 |
| DATA STORAGE CORP | COM NEW | 23786R201 | 725,673 | 311,501 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 311,501 |
| DOLPHIN ENTMT INC | COM NEW | 25686H209 | 693,964 | 403,467 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 403,467 |
| DUOS TECHNOLOGIES GROUP INC | COM | 266042407 | 2,905,225 | 489,095 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 489,095 |
| EAGLE POINT CREDIT COMPANY I | COM | 269808101 | 2,724,723 | 268,181 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 268,181 |
| EAGLE POINT INCOME COMPANY I | COM | 269817102 | 1,764,295 | 133,760 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 133,760 |
| EASTERLY GOVT PPTYS INC | COM | 27616P103 | 2,623,485 | 180,930 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 180,930 |
| EATON VANCE FLTING RATE INC | COM | 278279104 | 270,100 | 23,125 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 23,125 |
| EDIBLE GARDEN AG INC | *W EXP 04/18/202 | 28059P113 | 3,290 | 175,000 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 175,000 |
| ENSIGN GROUP INC | COM | 29358P101 | 9,260,556 | 96,952 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 96,952 |
| ENVIVA INC | COM | 29415B103 | 715,981 | 65,989 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 65,989 |
| EQUINOX GOLD CORP | COM | 29446Y502 | 2,056,214 | 448,955 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 448,955 |
| EVOLUTION PETE CORP | COM | 30049A107 | 2,037,377 | 252,463 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 252,463 |
| EYEPOINT PHARMACEUTICALS INC | COM NEW | 30233G209 | 266,864 | 30,674 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 30,674 |
| FARMLAND PARTNERS INC | COM | 31154R109 | 2,866,166 | 233,595 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 233,595 |
| FLAHERTY & CRUMRINE PFD SECS | COM | 338478100 | 780,089 | 56,775 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 56,775 |
| FRANCO NEV CORP | COM | 351858105 | 1,712,214 | 12,007 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 12,007 |
| FS KKR CAP CORP | COM | 302635206 | 3,466,953 | 174,491 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 174,491 |
| FTAI AVIATION LTD | SHS | G3730V105 | 563,548 | 17,800 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 17,800 |
| FTAI INFRASTRUCTURE INC | COMMON STOCK | 35953C106 | 5,627,952 | 1,525,190 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 1,525,190 |
| FULL HSE RESORTS INC | COM | 359678109 | 227,633 | 33,975 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 33,975 |
| GLADSTONE LD CORP | COM | 376549101 | 2,626,906 | 161,457 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 161,457 |
| GLOBAL MED REIT INC | COM NEW | 37954A204 | 164,585 | 17,627 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 17,627 |
| GLOBAL SELF STORAGE INC | COM | 37955N106 | 3,425,496 | 678,316 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 678,316 |
| GLOBAL WTR RES INC | COM | 379463102 | 2,242,712 | 176,870 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 176,870 |
| GLOBAL X FDS | US INFR DEV ETF | 37954Y673 | 707,354 | 22,450 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 22,450 |
| GREAT AJAX CORP | COM | 38983D300 | 1,026,990 | 167,535 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 167,535 |
| HANNON ARMSTRONG SUST INFR C | COM | 41068X100 | 436,100 | 17,444 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 17,444 |
| HARBOR CUSTOM DEVELOPMENT IN | *W EXP 05/09/202 | 41150T116 | 4,160 | 594,275 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 594,275 |
| HARBOR CUSTOM DEVELOPMENT IN | 8% CONV PFD SR A | 41150T207 | 929,826 | 172,190 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 172,190 |
| HARROW HEALTH INC | COM | 415858109 | 1,246,168 | 65,450 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 65,450 |
| HARVARD BIOSCIENCE INC | COM | 416906105 | 1,575,202 | 286,922 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 286,922 |
| HENRY JACK & ASSOC INC | COM | 426281101 | 953,781 | 5,700 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 5,700 |
| HOUR LOOP INC | COM | 44170P106 | 149,977 | 90,347 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 90,347 |
| HUDBAY MINERALS INC | COM | 443628102 | 262,764 | 54,742 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 54,742 |
| IDEX CORP | COM | 45167R104 | 1,506,820 | 7,000 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 7,000 |
| INDEPENDENCE RLTY TR INC | COM | 45378A106 | 2,534,512 | 137,926 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 137,926 |
| INFUSYSTEM HLDGS INC | COM | 45685K102 | 468,596 | 48,660 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 48,660 |
| INTEST CORP | COM | 461147100 | 5,105,601 | 194,425 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 194,425 |
| INUVO INC | COM NEW | 46122W204 | 867,577 | 3,908,002 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 3,908,002 |
| INVESCO EXCH TRADED FD TR II | S&P SMLCP UTIL | 46138G409 | 2,793,187 | 51,725 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 51,725 |
| ISHARES SILVER TR | ISHARES | 46428Q109 | 926,890 | 44,370 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 44,370 |
| ISHARES TR | RESIDENTIAL MULT | 464288562 | 231,460 | 3,159 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 3,159 |
| ISHARES TR | TIPS BD ETF | 464287176 | 266,898 | 2,480 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 2,480 |
| ISHARES TR | MSCI INDIA SM CP | 46429B614 | 280,381 | 4,825 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 4,825 |
| ISHARES TR | FLTG RATE NT ETF | 46429B655 | 424,870 | 8,360 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 8,360 |
| ISSUER DIRECT CORP | COM NEW | 46520M204 | 2,158,521 | 114,876 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 114,876 |
| ITERIS INC NEW | COM | 46564T107 | 1,392,847 | 351,729 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 351,729 |
| J & J SNACK FOODS CORP | COM | 466032109 | 286,308 | 1,800 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 1,800 |
| JAPAN SMALLER CAPITALIZATION | COM | 47109U104 | 522,410 | 72,557 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 72,557 |
| JOINT CORP | COM | 47973J102 | 914,544 | 67,744 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 67,744 |
| KAYNE ANDERSON ENERGY INFRST | COM | 486606106 | 161,773 | 19,374 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 19,374 |
| KORU MEDICAL SYSTEMS INC | COM | 759910102 | 75,210 | 21,800 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 21,800 |
| KRATOS DEFENSE & SEC SOLUTIO | COM NEW | 50077B207 | 1,560,881 | 108,848 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 108,848 |
| LEGACY HOUSING CORP | COM | 52472M101 | 4,595,887 | 198,184 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 198,184 |
| LGL GROUP INC | COM | 50186A108 | 1,342,882 | 282,118 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 282,118 |
| LIGHTPATH TECHNOLOGIES INC | COM CL A | 532257805 | 486,135 | 360,100 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 360,100 |
| LXP INDUSTRIAL TRUST | COM | 529043101 | 356,103 | 36,061 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 36,061 |
| MAMAMANCINI S HLDGS INC | COM | 56146T103 | 3,994,705 | 1,322,750 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 1,322,750 |
| MANHATTAN BRDG CAP INC | COM | 562803106 | 1,926,182 | 381,422 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 381,422 |
| MARTEN TRANS LTD | COM | 573075108 | 1,657,887 | 77,111 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 77,111 |
| MEDICAL PPTYS TRUST INC | COM | 58463J304 | 771,997 | 80,872 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 80,872 |
| MILLER INDS INC TENN | COM NEW | 600551204 | 595,542 | 16,790 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 16,790 |
| MOBILICOM LTD | *W EXP 08/31/202 | 60742B110 | 44,793 | 213,300 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 213,300 |
| MOBILICOM LTD | SPON ADS | 60742B102 | 313,344 | 204,800 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 204,800 |
| M-TRON INDS INC | COM | 55380K109 | 1,288,222 | 116,056 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 116,056 |
| NANO DIMENSION LTD | SPONSORD ADS NEW | 63008G203 | 419,628 | 145,200 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 145,200 |
| NEOGENOMICS INC | COM NEW | 64049M209 | 778,833 | 48,465 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 48,465 |
| NEPHROS INC | COM | 640671400 | 299,056 | 192,939 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 192,939 |
| NETCAPITAL INC | *W EXP 07/12/202 | 64113L111 | 18,583 | 235,225 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 235,225 |
| NETCAPITAL INC | COM | 64113L103 | 1,414,180 | 1,276,335 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 1,276,335 |
| NEW MTN FIN CORP | COM | 647551100 | 388,726 | 31,248 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 31,248 |
| NEWMONT CORP | COM | 651639106 | 784,180 | 18,382 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 18,382 |
| NEWTEKONE INC | COM NEW | 652526203 | 2,025,250 | 127,374 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 127,374 |
| OFS CREDIT COMPANY INC | COM | 67111Q107 | 1,019,172 | 114,458 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 114,458 |
| OIL DRI CORP AMER | COM | 677864100 | 3,735,837 | 63,330 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 63,330 |
| ONDAS HLDGS INC | COM NEW | 68236H204 | 225,338 | 261,899 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 261,899 |
| ONE STOP SYS INC | COM | 68247W109 | 3,024,590 | 1,053,864 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 1,053,864 |
| OSISKO GOLD ROYALTIES LTD | COM | 68827L101 | 3,411,285 | 221,190 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 221,190 |
| OWL ROCK CAPITAL CORPORATION | COM | 69121K104 | 964,227 | 71,850 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 71,850 |
| OXFORD LANE CAP CORP | COM | 691543102 | 328,850 | 67,944 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 67,944 |
| PACER FDS TR | INDUSTRIAL RELET | 69374H766 | 224,742 | 5,743 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 5,743 |
| PEMBINA PIPELINE CORP | COM | 706327103 | 1,116,120 | 35,500 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 35,500 |
| PENNANT GROUP INC | COM | 70805E109 | 363,488 | 29,600 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 29,600 |
| PETVIVO HLDGS INC | COM NEW | 716817408 | 859,905 | 436,500 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 436,500 |
| PIEDMONT LITHIUM INC | COM | 72016P105 | 444,367 | 7,700 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 7,700 |
| PLYMOUTH INDL REIT INC | COM | 729640102 | 672,912 | 28,949 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 28,949 |
| POLAR PWR INC | COM | 73102V105 | 353,534 | 269,873 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 269,873 |
| POLISHED COM INC | *W EXP 06/02/202 | 28252C117 | 41,952 | 646,400 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 646,400 |
| POLISHED COM INC | COM | 28252C109 | 795,536 | 1,729,425 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 1,729,425 |
| POSTAL REALTY TRUST INC | CL A | 73757R102 | 2,409,940 | 163,830 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 163,830 |
| POTLATCHDELTIC CORPORATION | COM | 737630103 | 4,366,820 | 82,627 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 82,627 |
| POWERFLEET INC | COM | 73931J109 | 1,058,370 | 352,790 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 352,790 |
| PROSHARES TR | PSHS ULTRUSS2000 | 74347R842 | 716,380 | 20,825 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 20,825 |
| PURE CYCLE CORP | COM NEW | 746228303 | 4,067,448 | 369,768 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 369,768 |
| PYXIS TANKERS INC | *W EXP 10/13/202 | Y71726122 | 88,800 | 80,000 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 80,000 |
| PYXIS TANKERS INC | 7.75% CNV PFD A | Y71726114 | 242,903 | 10,425 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 10,425 |
| QUAKER HOUGHTON | COM | 747316107 | 3,532,563 | 18,125 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 18,125 |
| RCM TECHNOLOGIES INC | COM NEW | 749360400 | 614,560 | 33,400 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 33,400 |
| RESEARCH SOLUTIONS INC | COM | 761025105 | 1,283,568 | 629,200 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 629,200 |
| RIMINI STR INC DEL | COM | 76674Q107 | 1,394,968 | 291,225 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 291,225 |
| ROYAL GOLD INC | COM | 780287108 | 2,250,607 | 19,608 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 19,608 |
| ROYCE MICRO-CAP TR INC | COM | 780915104 | 2,088,634 | 238,701 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 238,701 |
| RUNWAY GROWTH FINANCE CORP | COM | 78163D100 | 3,709,261 | 300,345 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 300,345 |
| SACHEM CAP CORP | COM | 78590A109 | 2,233,548 | 639,985 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 639,985 |
| SANDSTORM GOLD LTD | COM NEW | 80013R206 | 2,817,321 | 550,258 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 550,258 |
| SANGOMA TECHNOLOGIES CORP | COM NEW | 80100R408 | 278,237 | 75,199 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 75,199 |
| SARATOGA INVT CORP | COM NEW | 80349A208 | 444,931 | 16,485 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 16,485 |
| SIGMATRON INTL INC | COM | 82661L101 | 46,034 | 14,208 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 14,208 |
| SILVERCREST METALS INC | COM | 828363101 | 219,311 | 37,425 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 37,425 |
| SILVERSUN TECHNOLOGIES INC | COM NEW | 82846H207 | 1,427,866 | 423,699 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 423,699 |
| SLR INVESTMENT CORP | COM | 83413U100 | 206,559 | 14,475 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 14,475 |
| SMITH MIDLAND CORP | COM | 832156103 | 5,297,175 | 225,220 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 225,220 |
| SNOW LAKE RES LTD | COM | 83336J208 | 224,651 | 98,965 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 98,965 |
| SONO TEK CORP | COM | 835483108 | 110,803 | 20,500 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 20,500 |
| SOTHERLY HOTELS INC | COM | 83600C103 | 958,439 | 507,111 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 507,111 |
| SP PLUS CORP | COM | 78469C103 | 1,232,943 | 31,525 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 31,525 |
| SPDR GOLD TR | GOLD SHS | 78463V107 | 303,059 | 1,700 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 1,700 |
| STANDARD LITHIUM LTD | COM | 853606101 | 397,350 | 88,300 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 88,300 |
| STERICYCLE INC | COM | 858912108 | 1,238,091 | 26,660 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 26,660 |
| TARGA RES CORP | COM | 87612G101 | 1,879,472 | 24,697 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 24,697 |
| TORTOISE PIPELINE & ENERGY F | COM | 89148H207 | 4,093,338 | 149,446 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 149,446 |
| TORTOISE PWR & ENERGY INFRAS | COM | 89147X104 | 3,322,306 | 251,499 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 251,499 |
| TRANSACT TECHNOLOGIES INC | COM | 892918103 | 1,317,344 | 147,025 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 147,025 |
| TUCOWS INC | COM NEW | 898697206 | 327,194 | 11,795 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 11,795 |
| TWIN VEE POWERCATS CO | COM | 90177C101 | 217,169 | 102,438 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 102,438 |
| U S PHYSICAL THERAPY | COM | 90337L108 | 6,396,647 | 52,695 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 52,695 |
| UMH PPTYS INC | COM | 903002103 | 779,425 | 48,775 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 48,775 |
| URBAN-GRO INC | COM NEW | 91704K202 | 390,339 | 330,795 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 330,795 |
| USA COMPRESSION PARTNERS LP | COMUNIT LTDPAR | 90290N109 | 4,850,612 | 245,725 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 245,725 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 | 893,846 | 29,686 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 29,686 |
| VANECK ETF TRUST | JUNIOR GOLD MINE | 92189F791 | 2,816,584 | 78,984 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 78,984 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 | 226,980 | 3,000 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 3,000 |
| VANGUARD SCOTTSDALE FDS | MTG-BKD SECS ETF | 92206C771 | 2,521,632 | 54,830 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 54,830 |
| VICI PPTYS INC | COM | 925652109 | 2,510,305 | 78,987 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 78,987 |
| VIEMED HEALTHCARE INC | COM | 92663R105 | 233,987 | 23,925 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 23,925 |
| WELLTOWER INC | COM | 95040Q104 | 1,265,929 | 15,650 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 15,650 |
| WHEATON PRECIOUS METALS CORP | COM | 962879102 | 2,816,739 | 65,172 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 65,172 |
| WHERE FOOD COMES FROM INC | COM NEW | 96327X200 | 534,046 | 38,615 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 38,615 |
| WHITEHORSE FIN INC | COM | 96524V106 | 442,630 | 33,555 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 33,555 |
| WILLDAN GROUP INC | COM | 96924N100 | 2,771,015 | 144,625 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 144,625 |
| XAI OCTAGON FLOATING RATE & | COM | 98400T106 | 1,191,060 | 176,062 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 176,062 |
