The Securities and Exchange Commission has not necessarily
reviewed the information in this filing and has not determined
if it is accurate and complete.
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
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| 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 |
| AGILYSYS INC | COM | 00847J105 | 8,810,203 | 74,135 | SH | OTR | 1 | 0 | 0 | 74,135 | |
| AGILYSYS INC | COM | 00847J105 | 32,638,452 | 274,642 | SH | SOLE | 54,901 | 0 | 219,741 | ||
| ARGAN INC | COM | 04010E109 | 9,523,361 | 30,395 | SH | OTR | 1 | 0 | 0 | 30,395 | |
| ARGAN INC | COM | 04010E109 | 35,263,204 | 112,547 | SH | SOLE | 22,486 | 0 | 90,061 | ||
| BAKER HUGHES COMPANY | CL A | 05722G100 | 45,973,085 | 1,009,510 | SH | SOLE | 1,009,510 | 0 | 0 | ||
| BGC GROUP INC | CL A | 088929104 | 6,596,779 | 738,721 | SH | OTR | 1 | 0 | 0 | 738,721 | |
| BGC GROUP INC | CL A | 088929104 | 80,802,382 | 9,048,419 | SH | SOLE | 6,858,962 | 0 | 2,189,457 | ||
| CLIMB GLOBAL SOLUTIONS INC | COM | 946760105 | 4,154,361 | 40,416 | SH | OTR | 1 | 0 | 0 | 40,416 | |
| CLIMB GLOBAL SOLUTIONS INC | COM | 946760105 | 15,360,424 | 149,435 | SH | SOLE | 29,846 | 0 | 119,589 | ||
| CONSOLIDATED WATER CO INC | ORD | G23773107 | 5,305,322 | 150,335 | SH | OTR | 1 | 0 | 0 | 150,335 | |
| CONSOLIDATED WATER CO INC | ORD | G23773107 | 19,653,883 | 556,925 | SH | SOLE | 111,339 | 0 | 445,586 | ||
| DAILY JOURNAL CORP | COM | 233912104 | 6,928,228 | 14,217 | SH | OTR | 1 | 0 | 0 | 14,217 | |
| DAILY JOURNAL CORP | COM | 233912104 | 25,634,007 | 52,602 | SH | SOLE | 10,505 | 0 | 42,097 | ||
| EPLUS INC | COM | 294268107 | 6,828,585 | 77,863 | SH | OTR | 1 | 0 | 0 | 77,863 | |
| EPLUS INC | COM | 294268107 | 81,008,490 | 923,700 | SH | SOLE | 692,912 | 0 | 230,788 | ||
| FIRSTSERVICE CORP NEW | COM | 33767E202 | 4,151,873 | 26,695 | SH | OTR | 1 | 0 | 0 | 26,695 | |
| FIRSTSERVICE CORP NEW | COM | 33767E202 | 15,378,806 | 98,880 | SH | SOLE | 19,760 | 0 | 79,120 | ||
| I3 VERTICALS INC | COM CL A | 46571Y107 | 6,231,855 | 247,394 | SH | OTR | 1 | 0 | 0 | 247,394 | |
| I3 VERTICALS INC | COM CL A | 46571Y107 | 23,085,930 | 916,472 | SH | SOLE | 183,206 | 0 | 733,266 | ||
| IES HLDGS INC | COM | 44951W106 | 11,800,144 | 30,333 | SH | OTR | 1 | 0 | 0 | 30,333 | |
| IES HLDGS INC | COM | 44951W106 | 43,688,522 | 112,304 | SH | SOLE | 22,434 | 0 | 89,870 | ||
| JANUS INTERNATIONAL GROUP IN | COMMON STOCK | 47103N106 | 2,115,821 | 323,520 | SH | OTR | 1 | 0 | 0 | 323,520 | |
| JANUS INTERNATIONAL GROUP IN | COMMON STOCK | 47103N106 | 7,828,445 | 1,197,010 | SH | SOLE | 239,570 | 0 | 957,440 | ||
| LSI INDS INC OHIO | COM | 50216C108 | 5,631,605 | 307,402 | SH | OTR | 1 | 0 | 0 | 307,402 | |
| LSI INDS INC OHIO | COM | 50216C108 | 20,856,056 | 1,138,431 | SH | SOLE | 227,440 | 0 | 910,991 | ||
| MARRIOTT INTL INC NEW | CL A | 571903202 | 42,012,701 | 135,420 | SH | SOLE | 135,420 | 0 | 0 | ||
| NAYAX LTD | SHS | M7S750159 | 1,071,961 | 21,185 | SH | OTR | 1 | 0 | 0 | 21,185 | |
| NAYAX LTD | SHS | M7S750159 | 10,551,517 | 208,528 | SH | SOLE | 145,800 | 0 | 62,728 | ||
| NB BANCORP INC | COM | 63945M107 | 2,923,252 | 147,490 | SH | OTR | 1 | 0 | 0 | 147,490 | |
| NB BANCORP INC | COM | 63945M107 | 10,812,008 | 545,510 | SH | SOLE | 108,950 | 0 | 436,560 | ||
| NOMAD FOODS LTD | USD ORD SHS | G6564A105 | 3,397,904 | 271,615 | SH | OTR | 1 | 0 | 0 | 271,615 | |
| NOMAD FOODS LTD | USD ORD SHS | G6564A105 | 12,587,412 | 1,006,188 | SH | SOLE | 201,150 | 0 | 805,038 | ||
| NVR INC | COM | 62944T105 | 39,089,247 | 5,360 | SH | SOLE | 5,360 | 0 | 0 | ||
| SIGA TECHNOLOGIES INC | COM | 826917106 | 3,128,558 | 512,039 | SH | OTR | 1 | 0 | 0 | 512,039 | |
| SIGA TECHNOLOGIES INC | COM | 826917106 | 11,589,356 | 1,896,785 | SH | SOLE | 379,059 | 0 | 1,517,726 | ||
| STONEX GROUP INC | COM | 861896108 | 11,666,077 | 122,633 | SH | OTR | 1 | 0 | 0 | 122,633 | |
| STONEX GROUP INC | COM | 861896108 | 113,109,463 | 1,188,999 | SH | SOLE | 825,554 | 0 | 363,445 | ||
| TRIPADVISOR INC | COM | 896945201 | 5,288,629 | 363,230 | SH | OTR | 1 | 0 | 0 | 363,230 | |
| TRIPADVISOR INC | COM | 896945201 | 19,576,939 | 1,344,570 | SH | SOLE | 268,820 | 0 | 1,075,750 | ||
| TRIUMPH FINANCIAL INC | COM | 89679E300 | 8,311,878 | 132,714 | SH | OTR | 1 | 0 | 0 | 132,714 | |
| TRIUMPH FINANCIAL INC | COM | 89679E300 | 86,627,499 | 1,383,163 | SH | SOLE | 990,134 | 0 | 393,029 | ||
| UFP TECHNOLOGIES INC | COM | 902673102 | 7,232,183 | 32,573 | SH | OTR | 1 | 0 | 0 | 32,573 | |
| UFP TECHNOLOGIES INC | COM | 902673102 | 26,790,795 | 120,663 | SH | SOLE | 24,138 | 0 | 96,525 | ||
| UL SOLUTIONS INC | CLASS A COM SHS | 903731107 | 65,514,207 | 830,766 | SH | SOLE | 830,766 | 0 | 0 | ||
| UNITEDHEALTH GROUP INC | COM | 91324P102 | 25,900,431 | 78,460 | SH | SOLE | 78,460 | 0 | 0 | ||
| VSE CORP | COM | 918284100 | 9,069,561 | 52,495 | SH | OTR | 1 | 0 | 0 | 52,495 | |
| VSE CORP | COM | 918284100 | 101,646,120 | 588,332 | SH | SOLE | 432,745 | 0 | 155,587 | ||
| WINMARK CORP | COM | 974250102 | 6,039,680 | 14,915 | SH | OTR | 1 | 0 | 0 | 14,915 | |
| WINMARK CORP | COM | 974250102 | 64,449,457 | 159,158 | SH | SOLE | 114,972 | 0 | 44,186 | ||