| 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 | 3,751,285 | 125,503 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 125,503 |
| AIRGAIN INC | COM | 00938A104 | 645,935 | 176,004 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 176,004 |
| A-MARK PRECIOUS METALS INC | COM | 00181T107 | 2,704,813 | 92,220 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 92,220 |
| AMERIS BANCORP | COM | 03076K108 | 489,369 | 12,698 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 12,698 |
| AMPLITECH GROUP INC | *W EXP 02/26/202 | 03211Q119 | 21,724 | 88,775 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 88,775 |
| AMPLITECH GROUP INC | COM NEW | 03211Q200 | 709,249 | 351,113 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 351,113 |
| ARCHROCK INC | COM | 03957W106 | 3,200,249 | 253,988 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 253,988 |
| ARES CAPITAL CORP | COM | 04010L103 | 439,730 | 22,585 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 22,585 |
| ARES COML REAL ESTATE CORP | COM | 04013V108 | 1,235,519 | 125,435 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 125,435 |
| ARROWMARK FINANCIAL CORP | COM | 861780104 | 771,152 | 44,091 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 44,091 |
| ASURE SOFTWARE INC | COM | 04649U102 | 1,377,376 | 145,600 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 145,600 |
| ATOMERA INC | COM | 04965B100 | 1,139,320 | 182,000 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 182,000 |
| AVINO SILVER & GOLD MINES LT | COM | 053906103 | 438,509 | 849,000 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 849,000 |
| BALCHEM CORP | COM | 057665200 | 559,421 | 4,510 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 4,510 |
| BARINGS BDC INC | COM | 06759L103 | 626,124 | 70,272 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 70,272 |
| BEAM GLOBAL | COM | 07373B109 | 475,125 | 64,380 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 64,380 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 | 1,273,341 | 3,635 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 3,635 |
| BIOCERES CROP SOLUTIONS CORP | SHS | G1117K114 | 232,236 | 20,570 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 20,570 |
| BIOFRONTERA INC | *W EXP 10/27/202 | 09077D118 | 6,048 | 200,900 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 200,900 |
| BK TECHNOLOGIES CORPORATION | COM NEW | 05587G203 | 1,579,488 | 127,132 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 127,132 |
| BLACKSTONE SECD LENDING FD | COMMON STOCK | 09261X102 | 2,802,771 | 99,739 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 99,739 |
| BLUE OWL CAPITAL CORPORATION | COM | 69121K104 | 1,033,755 | 72,940 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 72,940 |
| BLUEROCK HOMES TRUST INC | COM CL A | 09631H100 | 218,749 | 16,931 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 16,931 |
| BOXLIGHT CORP | COM CL A NEW | 103197208 | 154,243 | 80,755 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 80,755 |
| BRAEMAR HOTELS & RESORTS INC | COM | 10482B101 | 974,053 | 345,430 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 345,430 |
| BRT APARTMENTS CORP | COM | 055645303 | 2,115,265 | 122,482 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 122,482 |
| CALAMOS GLOBAL TOTAL RETURN | COM SH BEN INT | 128118106 | 124,483 | 14,225 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 14,225 |
| CAPITAL SOUTHWEST CORP | COM | 140501107 | 430,749 | 18,810 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 18,810 |
| CARETRUST REIT INC | COM | 14174T107 | 690,437 | 33,226 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 33,226 |
| CARRIAGE SVCS INC | COM | 143905107 | 3,248,242 | 114,982 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 114,982 |
| CEA INDUSTRIES INC | *W EXP 02/11/202 | 86887P119 | 5,837 | 247,325 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 247,325 |
| CEA INDUSTRIES INC | COM NEW | 86887P200 | 197,490 | 262,375 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 262,375 |
| CELSIUS HLDGS INC | COM NEW | 15118V207 | 6,160,440 | 35,900 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 35,900 |
| CHICKEN SOUP FOR THE SOUL EN | CL A | 16842Q100 | 7,532 | 21,830 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 21,830 |
| CLEARFIELD INC | COM | 18482P103 | 323,601 | 11,291 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 11,291 |
| COHERENT CORP | COM | 19247G107 | 3,658,944 | 112,100 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 112,100 |
| CONCRETE PUMPING HLDGS INC | COM | 206704108 | 648,434 | 75,575 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 75,575 |
| CONTAINER STORE GROUP INC | COM | 210751103 | 156,488 | 69,550 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 69,550 |
| CREATIVE REALITIES INC | *W EXP 11/19/202 | 22530J119 | 168 | 88,025 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 88,025 |
| CREXENDO INC | COM | 226552107 | 1,314,830 | 623,142 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 623,142 |
| CROWN CRAFTS INC | COM | 228309100 | 820,374 | 171,268 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 171,268 |
| CROWN ELECTROKINETICS CORP | COM | 228339305 | 8,793 | 19,757 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 19,757 |
| DATA I O CORP | COM | 237690102 | 84,106 | 22,075 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 22,075 |
| DATA STORAGE CORP | *W EXP 05/18/202 | 23786R110 | 37,267 | 169,395 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 169,395 |
| DATA STORAGE CORP | COM NEW | 23786R201 | 1,035,816 | 319,696 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 319,696 |
| DOLPHIN ENTMT INC | COM NEW | 25686H209 | 737,671 | 409,817 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 409,817 |
| DUOS TECHNOLOGIES GROUP INC | COM | 266042407 | 2,268,677 | 441,884 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 441,884 |
| EAGLE POINT CREDIT COMPANY I | COM | 269808101 | 2,669,261 | 262,981 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 262,981 |
| EAGLE POINT INCOME COMPANY I | COM | 269817102 | 1,904,655 | 133,660 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 133,660 |
| EASTERLY GOVT PPTYS INC | COM | 27616P103 | 2,075,517 | 181,585 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 181,585 |
| EATON VANCE FLTING RATE INC | COM | 278279104 | 284,669 | 23,125 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 23,125 |
| EDIBLE GARDEN AG INC | *W EXP 04/18/202 | 28059P113 | 4,395 | 174,375 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 174,375 |
| ENSIGN GROUP INC | COM | 29358P101 | 9,015,267 | 96,952 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 96,952 |
| ENVIVA INC | COM | 29415B103 | 492,191 | 65,889 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 65,889 |
| EQUINOX GOLD CORP | COM | 29446Y502 | 1,929,261 | 456,090 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 456,090 |
| EVI INDS INC | COM | 26929N102 | 213,452 | 8,600 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 8,600 |
| EVOLUTION PETE CORP | COM | 30049A107 | 1,724,795 | 252,163 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 252,163 |
| EYEPOINT PHARMACEUTICALS INC | COM NEW | 30233G209 | 152,609 | 19,100 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 19,100 |
| FARMLAND PARTNERS INC | COM | 31154R109 | 2,400,954 | 232,655 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 232,655 |
| FLAHERTY & CRUMRINE PFD SECS | COM | 338478100 | 748,629 | 57,720 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 57,720 |
| FRANCO NEV CORP | COM | 351858105 | 1,601,628 | 11,998 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 11,998 |
| FS KKR CAP CORP | COM | 302635206 | 3,569,401 | 175,151 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 175,151 |
| FTAI AVIATION LTD | SHS | G3730V105 | 618,570 | 17,400 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 17,400 |
| FTAI INFRASTRUCTURE INC | COMMON STOCK | 35953C106 | 4,919,887 | 1,527,915 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 1,527,915 |
| FULL HSE RESORTS INC | COM | 359678109 | 145,074 | 33,975 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 33,975 |
| GLADSTONE LD CORP | COM | 376549101 | 2,291,699 | 161,047 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 161,047 |
| GLOBAL MED REIT INC | COM NEW | 37954A204 | 161,765 | 17,627 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 17,627 |
| GLOBAL SELF STORAGE INC | COM | 37955N106 | 3,292,335 | 677,435 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 677,435 |
| GLOBAL WTR RES INC | COM | 379463102 | 1,719,608 | 176,370 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 176,370 |
| GLOBAL X FDS | US INFR DEV ETF | 37954Y673 | 680,361 | 22,395 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 22,395 |
| GREAT AJAX CORP | COM | 38983D300 | 1,078,456 | 167,462 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 167,462 |
| HANNON ARMSTRONG SUST INFR C | COM | 41068X100 | 368,965 | 17,404 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 17,404 |
| HARBOR CUSTOM DEVELOPMENT IN | *W EXP 05/09/202 | 41150T116 | 3,385 | 583,525 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 583,525 |
| HARBOR CUSTOM DEVELOPMENT IN | 8% CONV PFD SR A | 41150T207 | 766,630 | 171,890 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 171,890 |
| HARROW INC | COM | 415858109 | 940,517 | 65,450 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 65,450 |
| HARVARD BIOSCIENCE INC | COM | 416906105 | 1,229,465 | 285,922 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 285,922 |
| HENRY JACK & ASSOC INC | COM | 426281101 | 861,498 | 5,700 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 5,700 |
| HOUR LOOP INC | COM | 44170P106 | 127,390 | 90,347 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 90,347 |
| HUDBAY MINERALS INC | COM | 443628102 | 266,584 | 54,740 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 54,740 |
| IDEX CORP | COM | 45167R104 | 1,456,140 | 7,000 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 7,000 |
| INDEPENDENCE RLTY TR INC | COM | 45378A106 | 1,962,199 | 137,926 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 137,926 |
| INFUSYSTEM HLDGS INC | COM | 45685K102 | 508,751 | 52,775 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 52,775 |
| INTEST CORP | COM | 461147100 | 2,935,775 | 193,525 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 193,525 |
| INUVO INC | COM NEW | 46122W204 | 830,915 | 3,882,777 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 3,882,777 |
| INVESCO EXCH TRADED FD TR II | S&P SMLCP UTIL | 46138G409 | 2,545,539 | 51,550 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 51,550 |
| ISHARES SILVER TR | ISHARES | 46428Q109 | 895,367 | 44,020 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 44,020 |
| ISHARES TR | TIPS BD ETF | 464287176 | 257,226 | 2,480 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 2,480 |
| ISHARES TR | RESIDENTIAL MULT | 464288562 | 206,445 | 3,099 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 3,099 |
| ISHARES TR | MSCI INDIA SM CP | 46429B614 | 304,554 | 4,825 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 4,825 |
| ISHARES TR | FLTG RATE NT ETF | 46429B655 | 808,843 | 15,894 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 15,894 |
| ISSUER DIRECT CORP | COM NEW | 46520M204 | 2,192,569 | 116,626 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 116,626 |
| ITERIS INC NEW | COM | 46564T107 | 1,483,069 | 358,229 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 358,229 |
| J & J SNACK FOODS CORP | COM | 466032109 | 295,893 | 1,800 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 1,800 |
| JAPAN SMALLER CAPITALIZATION | COM | 47109U104 | 515,880 | 72,557 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 72,557 |
| JOINT CORP | COM | 47973J102 | 685,929 | 76,299 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 76,299 |
| KAYNE ANDERSON ENERGY INFRST | COM | 486606106 | 178,598 | 20,719 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 20,719 |
| KINGSWAY FINL SVCS INC | COM NEW | 496904202 | 2,151,637 | 284,985 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 284,985 |
| KORU MEDICAL SYSTEMS INC | COM | 759910102 | 58,860 | 21,800 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 21,800 |
| KRATOS DEFENSE & SEC SOLUTIO | COM NEW | 50077B207 | 1,630,391 | 108,548 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 108,548 |
| LEGACY HOUSING CORP | COM | 52472M101 | 3,875,576 | 199,669 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 199,669 |
| LGL GROUP INC | COM | 50186A108 | 1,271,484 | 296,383 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 296,383 |
| LIGHTPATH TECHNOLOGIES INC | COM CL A | 532257805 | 519,245 | 358,100 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 358,100 |
| LXP INDUSTRIAL TRUST | COM | 529043101 | 335,334 | 37,156 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 37,156 |
| MAMAS CREATIONS INC | COM | 56146T103 | 5,170,475 | 1,183,175 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 1,183,175 |
| MANHATTAN BRDG CAP INC | COM | 562803106 | 1,826,746 | 380,572 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 380,572 |
| MARTEN TRANS LTD | COM | 573075108 | 1,513,965 | 76,812 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 76,812 |
| MILLER INDS INC TENN | COM NEW | 600551204 | 658,336 | 16,790 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 16,790 |
| MOBILICOM LTD | SPON ADS | 60742B102 | 304,883 | 234,525 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 234,525 |
| MOBILICOM LTD | *W EXP 08/31/202 | 60742B110 | 27,204 | 213,025 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 213,025 |
| MODIV INDUSTRIAL INC | COM STK CL C | 60784B101 | 1,776,879 | 105,875 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 105,875 |
| M-TRON INDS INC | COM | 55380K109 | 2,071,625 | 117,074 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 117,074 |
| NANO DIMENSION LTD | SPONSORD ADS NEW | 63008G203 | 394,944 | 145,200 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 145,200 |
| NEOGENOMICS INC | COM NEW | 64049M209 | 596,120 | 48,465 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 48,465 |
| NEPHROS INC | COM | 640671400 | 275,338 | 186,039 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 186,039 |
| NETCAPITAL INC | COM | 64113L103 | 519,362 | 1,266,735 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 1,266,735 |
| NETCAPITAL INC | *W EXP 07/12/202 | 64113L111 | 8,243 | 234,825 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 234,825 |
| NEW MTN FIN CORP | COM | 647551100 | 404,662 | 31,248 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 31,248 |
| NEWMONT CORP | COM | 651639106 | 679,219 | 18,382 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 18,382 |
| NEWTEKONE INC | COM NEW | 652526203 | 1,872,324 | 126,937 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 126,937 |
| OFS CREDIT COMPANY INC | COM | 67111Q107 | 867,544 | 113,537 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 113,537 |
| OIL DRI CORP AMER | COM | 677864100 | 3,856,597 | 62,455 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 62,455 |
| ONDAS HLDGS INC | COM NEW | 68236H204 | 156,733 | 257,149 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 257,149 |
| ONE STOP SYS INC | COM | 68247W109 | 1,975,645 | 1,067,916 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 1,067,916 |
| OSISKO GOLD ROYALTIES LTD | COM | 68827L101 | 2,651,347 | 224,815 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 224,815 |
| OXFORD LANE CAP CORP | COM | 691543102 | 337,544 | 67,644 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 67,644 |
| PACER FDS TR | INDUSTRIAL RELET | 69374H766 | 202,457 | 5,768 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 5,768 |
| PEMBINA PIPELINE CORP | COM | 706327103 | 1,055,106 | 35,100 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 35,100 |
| PENNANT GROUP INC | COM | 70805E109 | 329,448 | 29,600 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 29,600 |
| PETVIVO HLDGS INC | COM NEW | 716817408 | 775,533 | 421,485 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 421,485 |
| PIEDMONT LITHIUM INC | COM | 72016P105 | 305,690 | 7,700 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 7,700 |
| PLYMOUTH INDL REIT INC | COM | 729640102 | 623,575 | 29,449 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 29,449 |
| POLAR PWR INC | COM | 73102V105 | 345,236 | 311,023 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 311,023 |
| POLISHED EQUITES | COM | 28252C109 | 137,789 | 1,707,425 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 1,707,425 |
| POSTAL REALTY TRUST INC | CL A | 73757R102 | 2,195,100 | 162,600 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 162,600 |
| POTLATCHDELTIC CORPORATION | COM | 737630103 | 3,688,334 | 81,259 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 81,259 |
| POWERFLEET INC | COM | 73931J109 | 719,822 | 347,740 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 347,740 |
| PROSHARES TR | PSHS ULTRUSS2000 | 74347R842 | 629,540 | 20,825 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 20,825 |
| PURE CYCLE CORP | COM NEW | 746228303 | 3,561,293 | 370,968 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 370,968 |
| PYXIS TANKERS INC | 7.75% CNV PFD A | Y71726114 | 224,558 | 9,475 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 9,475 |
| PYXIS TANKERS INC | *W EXP 10/13/202 | Y71726122 | 67,128 | 80,000 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 80,000 |
| QUAKER HOUGHTON | COM | 747316107 | 2,884,000 | 18,025 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 18,025 |
| RCM TECHNOLOGIES INC | COM NEW | 749360400 | 652,636 | 33,400 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 33,400 |
| RESEARCH SOLUTIONS INC | COM | 761025105 | 1,562,813 | 625,125 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 625,125 |
| RIMINI STR INC DEL | COM | 76674Q107 | 673,915 | 306,325 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 306,325 |
| ROYAL GOLD INC | COM | 780287108 | 2,087,046 | 19,628 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 19,628 |
| ROYCE MICRO-CAP TR INC | COM | 780915104 | 1,967,337 | 237,601 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 237,601 |
| RUNWAY GROWTH FINANCE CORP | COM | 78163D100 | 3,856,897 | 300,850 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 300,850 |
| SACHEM CAP CORP | COM | 78590A109 | 2,235,144 | 633,185 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 633,185 |
| SANDSTORM GOLD LTD | COM NEW | 80013R206 | 2,551,914 | 547,621 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 547,621 |
| SANGOMA TECHNOLOGIES CORP | COM NEW | 80100R408 | 315,264 | 90,854 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 90,854 |
| SARATOGA INVT CORP | COM NEW | 80349A208 | 423,665 | 16,485 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 16,485 |
| SIGMATRON INTL INC | COM | 82661L101 | 44,472 | 14,208 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 14,208 |
| SILVERCREST METALS INC | COM | 828363101 | 165,045 | 37,425 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 37,425 |
| SILVERSUN TECHNOLOGIES INC | COM NEW | 82846H207 | 1,409,753 | 423,349 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 423,349 |
| SLR INVESTMENT CORP | COM | 83413U100 | 222,771 | 14,475 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 14,475 |
| SMITH MIDLAND CORP | COM | 832156103 | 4,267,058 | 224,465 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 224,465 |
| SNOW LAKE RES LTD | COM | 83336J208 | 170,828 | 129,415 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 129,415 |
| SONO TEK CORP | COM | 835483108 | 121,365 | 23,250 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 23,250 |
| SOTHERLY HOTELS INC | COM | 83600C103 | 860,287 | 512,076 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 512,076 |
| SP PLUS CORP | COM | 78469C103 | 1,138,053 | 31,525 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 31,525 |
| SPDR GOLD TR | GOLD SHS | 78463V107 | 291,465 | 1,700 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 1,700 |
| STANDARD LITHIUM LTD | COM | 853606101 | 249,889 | 88,300 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 88,300 |
| STERICYCLE INC | COM | 858912108 | 1,191,969 | 26,660 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 26,660 |
| TARGA RES CORP | COM | 87612G101 | 2,117,061 | 24,697 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 24,697 |
| TORTOISE PIPELINE & ENERGY F | COM | 89148H207 | 4,190,768 | 149,617 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 149,617 |
| TORTOISE PWR & ENERGY INFRAS | COM | 89147X104 | 3,371,460 | 252,355 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 252,355 |
| TRANSACT TECHNOLOGIES INC | COM | 892918103 | 990,125 | 154,225 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 154,225 |
| TUCOWS INC | COM NEW | 898697206 | 312,682 | 15,320 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 15,320 |
| TWIN VEE POWERCATS CO | COM | 90177C101 | 135,100 | 99,338 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 99,338 |
| U S PHYSICAL THERAPY | COM | 90337L108 | 4,806,194 | 52,395 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 52,395 |
| UMH PPTYS INC | COM | 903002103 | 683,826 | 48,775 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 48,775 |
| URBAN-GRO INC | COM NEW | 91704K202 | 441,552 | 324,670 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 324,670 |
| USA COMPRESSION PARTNERS LP | COMUNIT LTDPAR | 90290N109 | 5,862,999 | 245,725 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 245,725 |
| UTAH MED PRODS INC | COM | 917488108 | 1,563,566 | 18,181 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 18,181 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 | 799,658 | 29,716 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 29,716 |
| VANECK ETF TRUST | JUNIOR GOLD MINE | 92189F791 | 2,537,287 | 78,724 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 78,724 |
| VANGUARD MALVERN FDS | STRM INFPROIDX | 922020805 | 150,823 | 3,190 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 3,190 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 | 259,643 | 3,455 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 3,455 |
| VANGUARD SCOTTSDALE FDS | MTG-BKD SECS ETF | 92206C771 | 2,397,393 | 54,760 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 54,760 |
| VICI PPTYS INC | COM | 925652109 | 2,337,005 | 79,217 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 79,217 |
| VIEMED HEALTHCARE INC | COM | 92663R105 | 231,883 | 34,455 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 34,455 |
| WELLTOWER INC | COM | 95040Q104 | 1,270,989 | 15,515 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 15,515 |
| WHEATON PRECIOUS METALS CORP | COM | 962879102 | 2,626,104 | 64,762 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 64,762 |
| WHERE FOOD COMES FROM INC | COM NEW | 96327X200 | 609,738 | 43,615 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 43,615 |
| WHITEHORSE FIN INC | COM | 96524V106 | 440,617 | 33,555 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 33,555 |
| WILLDAN GROUP INC | COM | 96924N100 | 2,939,367 | 143,875 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 143,875 |
| XAI OCTAGON FLOATING RATE & | COM | 98400T106 | 1,222,586 | 173,762 | SH | | SOLE | Bard Associates Inc | 0 | 0 | 173,762 |
