The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
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
ACUSHNET HOLDINGS CORP. COM 005098108 25,148 578,251 SH   SOLE   375,710 0 202,541
ARMSTRONG WORLD INDS INC NEW COM 04247X102 30,711 387,616 SH   SOLE   253,419 0 134,197
BANK OZK COM 06417N103 58,207 1,471,362 SH   SOLE   970,548 0 500,814
BLACKBAUD INC. COM 09227Q100 41,226 935,672 SH   SOLE   607,669 0 328,003
BLUCORA INC. COM 095229100 50,004 2,585,521 SH   SOLE   1,663,834 0 921,687
BOK FINANCIAL CORPORATION COM NEW 05561Q201 1,442 16,227 SH   SOLE   16,227 0 0
BRADY CORP CL A CL A 104674106 44,434 1,064,792 SH   SOLE   691,786 0 373,006
BRUNSWICK CORP. COM 117043109 40,304 615,803 SH   SOLE   408,392 0 207,411
CERENCE INC COM 156727109 18,337 1,164,259 SH   SOLE   770,672 0 393,587
CHARLES RIVER LABORATORIES COM 159864107 35,432 180,041 SH   SOLE   118,759 0 61,282
CHEMED CORP. COM 16359R103 46,629 106,810 SH   SOLE   70,450 0 36,360
DIGITALOCEAN HLDGS INC COM 25402D102 30,100 832,186 SH   SOLE   549,396 0 282,790
DOUBLEVERIFY HOLDINGS INC COM 25862V105 58,435 2,136,571 SH   SOLE   1,411,608 0 724,963
ENSIGN GROUP INC COM 29358P101 65,701 826,428 SH   SOLE   545,372 0 281,056
ENVESTNET INC. COM 29404K106 50,475 1,136,820 SH   SOLE   747,902 0 388,918
EURONET WORLDWIDE INC. COM 298736109 49,273 650,387 SH   SOLE   428,159 0 222,228
FEDERAL SIGNAL CORP COM 313855108 66,690 1,786,976 SH   SOLE   1,173,366 0 613,610
FOX FACTORY HOLDING CORP. COM 35138V102 44,918 568,002 SH   SOLE   374,314 0 193,688
FTI CONSULTING INC. COM 302941109 44,851 270,661 SH   SOLE   176,243 0 94,418
GENTHERM INC. COM 37253A103 35,181 707,433 SH   SOLE   466,570 0 240,863
GLOBUS MEDICAL INC. CL A 379577208 50,742 851,800 SH   SOLE   563,009 0 288,791
GODADDY INC. CL A 380237107 1,289 18,184 SH   SOLE   18,184 0 0
GRAND CANYON EDUCATION INC. COM 38526M106 69,768 848,243 SH   SOLE   558,408 0 289,835
HAMILTON LANE INC CL A 407497106 49,039 822,669 SH   SOLE   542,511 0 280,158
HEALTHEQUITY INC COM 42226A107 48,357 719,915 SH   SOLE   468,341 0 251,574
HOULIHAN LOKEY INC. CL A 441593100 53,714 712,575 SH   SOLE   469,983 0 242,592
InMODE LTD. SHS M5425M103 94 3,223 SH   SOLE   3,223 0 0
INSTALLED BLDG PRODS INC COM 45780R101 41,175 508,394 SH   SOLE   336,686 0 171,708
IPG PHOTONICS CORP. COM 44980X109 1,174 13,924 SH   SOLE   13,924 0 0
IRIDIUM COMMUNICATIONS INC. COM 46269C102 74,648 1,682,392 SH   SOLE   1,108,033 0 574,359
ISHARES INC MSCI AUST ETF MSCI AUST ETF 464286103 29 1,479 SH   SOLE   1,479 0 0
ISHARES INC MSCI JAPAN SMALL CAP MSCI JAPN SMCETF 464286582 61 1,040 SH   SOLE   1,040 0 0
ISHARES MSCI TAIWAN INDEX MSCI TAIWAN ETF 46434G772 20 467 SH   SOLE   467 0 0
LAUREATE EDUCATION INC. COMMON STOCK 518613203 58,326 5,528,499 SH   SOLE   3,647,617 0 1,880,882
MARKETAXESS HOLDINGS INC. COM 57060D108 30,761 138,258 SH   SOLE   91,704 0 46,554
MARRIOTT VACATIONS WORLDWIDE CORP. COM 57164Y107 49,432 405,644 SH   SOLE   267,608 0 138,036
MAXIMUS INC. COM 577933104 52,166 901,432 SH   SOLE   591,687 0 309,745
NMI HOLDINGS INC CL A CL A 629209305 61,767 3,032,231 SH   SOLE   1,952,741 0 1,079,490
ORMAT TECHNOLOGIES INC. COM 686688102 56,840 659,401 SH   SOLE   435,398 0 224,003
PENNANT GROUP INC COM 70805E109 795 76,336 SH   SOLE   76,336 0 0
PRIMORIS SERVICES CORP. COM 74164F103 35,271 2,170,549 SH   SOLE   1,395,479 0 775,070
QUALYS INC COM 74758T303 56,516 405,450 SH   SOLE   267,980 0 137,470
RLI CORP COM 749607107 48,849 477,132 SH   SOLE   315,160 0 161,972
SHAKE SHACK INC CL A CL A 819047101 43,197 960,366 SH   SOLE   632,162 0 328,204
SILICON LABORATORIES INC. COM 826919102 43,326 350,990 SH   SOLE   231,926 0 119,064
SOTERA HEALTH CO COM 83601L102 208 30,501 SH   SOLE   30,501 0 0
STONEX GROUP INC COM 861896108 65,290 787,201 SH   SOLE   514,222 0 272,979
TAKE-TWO INTERACTIVE SOFTWARE COM 874054109 1,022 9,373 SH   SOLE   9,373 0 0
TEMPUR SEALY INTERNATIONAL INC. COM 88023U101 43,359 1,796,147 SH   SOLE   1,168,945 0 627,202
THERMON GROUP HOLDINGS INC COM 88362T103 37,465 2,431,225 SH   SOLE   1,590,782 0 840,443
TRACTOR SUPPLY COMPANY COM 892356106 1,598 8,596 SH   SOLE   8,596 0 0
UNIVERSAL HEALTH SERVICES CL B 913903100 19,393 219,930 SH   SOLE   143,029 0 76,901
VICTORY CAP HLDGS INC COM CL A COM CL A 92645B103 33,997 1,458,479 SH   SOLE   959,676 0 498,803
VIRTU FINANCIAL CL A 928254101 46,055 2,217,392 SH   SOLE   1,462,337 0 755,055
YETI HOLDINGS INC COM 98585X104 31,783 1,114,405 SH   SOLE   732,634 0 381,771
CAE INC COM 124765108 5,935 383,912 SH   SOLE   257,913 0 125,999
CANADA GOOSE HOLDINGS INC SHS SUB VTG 135086106 1,866 121,653 SH   SOLE   79,115 0 42,538
COLLIERS INTERNATIONAL GROUP INC. SUB VTG SHS 194693107 15,901 172,169 SH   SOLE   115,459 0 56,710
FIRSTSERVICE CORP. COM 33767E202 6,483 54,043 SH   SOLE   36,538 0 17,505
STANTEC INC. COM 85472N109 12,662 286,493 SH   SOLE   192,445 0 94,048
TUCOWS INC. COM NEW 898697206 9,250 244,284 SH   SOLE   164,448 0 79,836
DADA NEXUS LTD ADR ADS 23344D108 1,121 236,943 SH   SOLE   236,943 0 0
KULICKE & SOFFA INDUSTRIES ADR COM 501242101 2,272 58,978 SH   SOLE   58,978 0 0
VIPSHOP HOLDINGS LIMITED ADR SPONSORED ADS A 92763W103 1,175 139,663 SH   SOLE   139,663 0 0
VNET GROUP INC. ADR SPONSORED ADS A 90138A103 2,254 409,804 SH   SOLE   409,804 0 0