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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ARMSTRONG WORLD INDS INC. COM 04247X102   77,788 1,080,384 SH   SOLE   729,195 0 351,189
ATS CORPORATION COM ADDED 00217Y104   8,128 189,788 SH   SOLE   189,788 0 0
AVANTAX INC. COM 095229100   66,789 2,610,995 SH   SOLE   1,746,272 0 864,723
BANK OZK COM 06417N103   75,308 2,031,518 SH   SOLE   1,372,041 0 659,477
BIO-TECHNE CORP COM 09073M104   1,219 17,906 SH   SOLE   17,906 0 0
BLACKBAUD INC. COM 09227Q100   57,889 823,229 SH   SOLE   550,269 0 272,960
BRADY CORP CL A CL A 104674106   68,763 1,252,062 SH   SOLE   837,039 0 415,023
BRUNSWICK CORP. COM 117043109   71,098 899,980 SH   SOLE   607,186 0 292,794
CANADA GOOSE HOLDINGS INC. SHS SUB VTG 135086106   5,455 370,217 SH   SOLE   370,217 0 0
CERENCE INC. COM 156727109   63,802 3,132,160 SH   SOLE   2,110,083 0 1,022,077
CHARLES RIVER LABORATORIES COM 159864107   43,546 222,198 SH   SOLE   151,094 0 71,104
CHEMED CORP. COM 16359R103   67,567 130,012 SH   SOLE   87,841 0 42,171
COLLIERS INTERNATIONAL GROUP INC. SUB VTG SHS 194693107   8,343 87,201 SH   SOLE   87,201 0 0
DADA NEXUS LTD. ADR ADS 23344D108   623 139,981 SH   SOLE   139,981 0 0
DIGITALOCEAN HLDGS INC. COM 25402D102   34,397 1,431,401 SH   SOLE   966,372 0 465,029
DOUBLEVERIFY HOLDINGS INC. COM 25862V105   73,878 2,643,235 SH   SOLE   1,783,261 0 859,974
ENSIGN GROUP INC. COM 29358P101   93,020 1,000,973 SH   SOLE   675,105 0 325,868
ENVESTNET INC. COM 29404K106   77,603 1,762,502 SH   SOLE   1,185,475 0 577,027
EURONET WORLDWIDE INC. COM 298736109   84,912 1,069,693 SH   SOLE   721,075 0 348,618
FEDERAL SIGNAL CORP. COM 313855108   92,535 1,549,215 SH   SOLE   1,047,555 0 501,660
FOX FACTORY HOLDING CORP. COM 35138V102   68,617 692,538 SH   SOLE   466,496 0 226,042
FTI CONSULTING INC. COM 302941109   69,413 389,062 SH   SOLE   262,292 0 126,770
GENTHERM INC. COM 37253A103   63,678 1,173,567 SH   SOLE   791,510 0 382,057
GLOBUS MEDICAL INC. CL A 379577208   71,962 1,449,387 SH   SOLE   977,338 0 472,049
GODADDY INC. CL A 380237107   1,236 16,600 SH   SOLE   16,600 0 0
GRAND CANYON EDUCATION INC. COM 38526M106   101,904 871,871 SH   SOLE   587,953 0 283,918
GROCERY OUTLET HLDG CORP. COM 39874R101   69,091 2,394,826 SH   SOLE   1,613,627 0 781,199
HAMILTON LANE INC. CL A 407497106   86,216 953,297 SH   SOLE   642,830 0 310,467
HEALTHEQUITY INC. COM 42226A107   76,152 1,042,470 SH   SOLE   696,608 0 345,862
HOULIHAN LOKEY INC. CL A 441593100   92,877 867,036 SH   SOLE   585,665 0 281,371
InMODE LTD. SHS M5425M103   71 2,323 SH   SOLE   2,323 0 0
INSTALLED BLDG PRODS INC. COM 45780R101   62,279 498,670 SH   SOLE   337,335 0 161,335
IPG PHOTONICS CORP. COM 44980X109   1,166 11,482 SH   SOLE   11,482 0 0
IRIDIUM COMMUNICATIONS INC. COM 46269C102   93,668 2,059,088 SH   SOLE   1,387,608 0 671,480
ISHARES TR MSCI CHINA ETF MSCI CHINA ETF 46429B671   100 2,300 SH   SOLE   2,300 0 0
KULICKE & SOFFA INDUSTRIES ADR COM 501242101   1,156 23,764 SH   SOLE   23,764 0 0
LAUREATE EDUCATION INC. COMMON STOCK 518613203   100,475 7,125,871 SH   SOLE   4,811,078 0 2,314,793
MARKETAXESS HOLDINGS INC. COM 57060D108   35,648 166,860 SH   SOLE   112,920 0 53,940
MARRIOTT VACATIONS WORLDWIDE CORP. COM 57164Y107   60,307 599,290 SH   SOLE   404,282 0 195,008
MAXIMUS INC. COM 577933104   83,958 1,124,238 SH   SOLE   757,647 0 366,591
NMI HOLDINGS INC. CL A CL A 629209305   73,381 2,708,797 SH   SOLE   1,812,112 0 896,685
ORMAT TECHNOLOGIES INC. COM 686688102   72,415 1,035,686 SH   SOLE   698,170 0 337,516
PAYCOR HCM INC. COM 70435P102   19,610 858,947 SH   SOLE   573,951 0 284,996
PAYLOCITY HLDG CORP. COM 70438V106   878 4,834 SH   SOLE   4,834 0 0
PENNANT GROUP INC. COM 70805E109   1,256 112,874 SH   SOLE   112,874 0 0
PRIMORIS SERVICES CORP. COM 74164F103   69,523 2,124,148 SH   SOLE   1,418,721 0 705,427
PTC INC. COM 69370C100   1,547 10,917 SH   SOLE   10,917 0 0
QUALYS INC. COM 74758T303   78,041 511,574 SH   SOLE   345,183 0 166,391
RLI CORP. COM 749607107   71,570 526,679 SH   SOLE   356,436 0 170,243
SHAKE SHACK INC. CL A CL A 819047101   60,761 1,046,339 SH   SOLE   705,858 0 340,481
SILICON LABORATORIES INC. COM 826919102   66,377 572,762 SH   SOLE   386,469 0 186,293
SOTERA HEALTH CO. COM 83601L102   930 62,109 SH   SOLE   62,109 0 0
STANTEC INC. COM 85472N109   3,886 59,611 SH   SOLE   59,611 0 0
STONEX GROUP INC. COM 861896108   97,174 1,002,622 SH   SOLE   676,591 0 326,031
TEMPUR SEALY INTERNATIONAL INC. COM 88023U101   63,693 1,469,622 SH   SOLE   981,784 0 487,838
TRACTOR SUPPLY COMPANY COM 892356106   1,460 7,189 SH   SOLE   7,189 0 0
TUCOWS INC. COM NEW 898697206   5,135 251,639 SH   SOLE   251,639 0 0
UNIVERSAL HEALTH SERVICES CL B 913903100   33,804 268,860 SH   SOLE   179,720 0 89,140
VICTORY CAP HLDGS INC. COM CL A COM CL A 92645B103   60,537 1,815,741 SH   SOLE   1,230,280 0 585,461
VIPSHOP HOLDINGS LIMITED ADR SPONSORED ADS A 92763W103   835 52,125 SH   SOLE   52,125 0 0
VIRTU FINANCIAL CL A 928254101   10,889 630,503 SH   SOLE   421,208 0 209,295
YETI HOLDINGS INC. COM 98585X104   67,287 1,395,416 SH   SOLE   941,415 0 454,001
YUM CHINA HOLDINGS COM 98850P109   936 16,600 SH   SOLE   16,600 0 0