{"url":"https://nivawealth.com/firms/the-informed-momentum-144908","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/144908","regulatoryAum":1493859551,"crd":"144908","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"5073232","suffix":null,"lastName":"GAERTNER","firstName":"DEREK","middleName":"JOHN"},{"crd":"4217948","suffix":null,"lastName":"MOSS","firstName":"JOSHUA","middleName":"MATTHEW"},{"crd":"3106625","suffix":null,"lastName":"PRENTICE","firstName":"TRAVIS","middleName":"TYLER"}],"total":3,"loadedAt":"2026-10-10T00:20:19.761928+00:00","sourceUrl":"https://reports.adviserinfo.sec.gov/reports/CompilationReports/IA_INDVL_Feed_10_09_2026.xml.zip"},"history":[{"filedOn":"2021-03-26","regulatoryAum":1136062782,"clients":8,"employees":19,"offices":1},{"filedOn":"2022-03-25","regulatoryAum":1146051027,"clients":7,"employees":23,"offices":1},{"filedOn":"2023-03-30","regulatoryAum":869543034,"clients":8,"employees":23,"offices":2},{"filedOn":"2024-03-28","regulatoryAum":932639270,"clients":14,"employees":22,"offices":2},{"filedOn":"2025-03-28","regulatoryAum":1097690418,"clients":14,"employees":20,"offices":2},{"filedOn":"2026-09-01","regulatoryAum":1493859551,"clients":7,"employees":22,"offices":2}],"secFileNumber":"801-70305","legalName":"The Informed Momentum Company LLC","displayName":"The Informed Momentum","slug":"the-informed-momentum-144908","website":"https://informedmomentum.com/","logo":{"src":"https://rmkhnxnbeclogprvkfyl.supabase.co/storage/v1/object/public/firm-logos/144908/d27cab91ce5bdb85-r1.webp","tone":"light","width":370,"height":200,"sourceUrl":"https://www.informedmomentum.com/","sourceLabel":"The Informed Momentum Company LLC, website"},"classification":{"segment":"institutions","segmentLabel":"Institutional","type":"institutional_asset_manager","typeLabel":"Asset manager","feeDisclosure":"payment_only"},"linkedinUrl":"https://linkedin.com/company/informed-momentum-company","xUrl":"https://x.com/informed_mo","founded":null,"organization":"California limited liability company","fiscalYearEnd":"December","headquarters":{"street":"215 Highway 101, Suite 216","city":"Solana Beach","state":"CA","stateName":"California","country":"United States","postalCode":"92075"},"tradeNames":[],"registration":{"secApproved":"17 July 2009","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":null,"staff":{"employees":22,"advisory":13,"brokerDealerReps":0,"insuranceAgents":0,"promoters":0},"aum":{"regulatory":1493859551,"discretionary":1493859551,"discretionaryAccounts":13,"nonDiscretionary":0,"nonDiscretionaryAccounts":0,"wrapProgram":null,"nonUsClientsPct":8,"nonAumClients":13},"clientTypes":[{"label":"Investment companies","clients":3,"regulatoryAum":131502776},{"label":"Pooled investment vehicles","clients":4,"regulatoryAum":290995693},{"label":"Pension and profit-sharing plans","clients":null,"fewerThan5":true,"regulatoryAum":53119245},{"label":"State or municipal government entities","clients":null,"fewerThan5":true,"regulatoryAum":1018241837}],"feePrograms":[],"brochureCoverage":{"scope":"known_documents","status":"not_processed","checkedAt":null,"documents":[]},"custodians":[{"name":"The Northern Trust Company","shortName":"The Northern Trust","location":"Chicago, IL","smaAssets":153158283},{"name":"State Street Bank and Trust Company","shortName":"State Street Bank and Trust","location":"Boston, MA","smaAssets":456970154},{"name":"JP Morgan","shortName":"J.P. Morgan","location":"New York, NY","smaAssets":82827509}],"custodyNote":"The Informed Momentum does not have custody of client assets.","otherCustodians":[],"leadership":[{"name":"Derek Gaertner","title":"Chief Executive Officer, Chief Operating Officer, Member","crd":"5073232"},{"name":"Frank Hurst","title":"President, Managing Member","crd":"3203693"},{"name":"Joshua Moss","title":"Vice President, Member","crd":"4217948"},{"name":"Iris Kelly","title":"Chief Compliance Officer","crd":"5444088"},{"name":"Travis Prentice","title":"Chief Investment Officer, Managing Member","crd":"3106625"}],"ownership":[{"label":"Travis Prentice","detail":"Chief investment officer, managing member in the 10% to 25% ownership band and a control person, since January 2025."},{"label":"Joshua Moss","detail":"Vice president, member in the 5% to 10% ownership band and a control person, since July 2007."},{"label":"Frank Hurst","detail":"President, managing member in the 10% to 25% ownership band and a control person, since June 2011."},{"label":"CR Financial Holdings, Inc.","detail":"Member in the 25% to 50% ownership band and a control person, since January 2025."},{"label":"Byron Roth","detail":"Indirect owner: a shareholder of CR Financial Holdings, Inc. in the 75% or more band and a control person, since January 2000.","parent":"CR Financial Holdings, Inc."}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":1,"privateResidences":0},"listedOfficeAddresses":2,"foreignOffices":[],"officesByState":[{"state":"California","offices":1,"addresses":[{"street":"215 Highway 101, Suite 216","city":"Solana Beach","headquarters":true}]},{"state":"Washington","offices":1,"addresses":[{"street":"601 W. Main Avenue, Suite 802","city":"Spokane"}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"760-479-5080","stateRegisteredReps":3,"otherAdviserReps":0,"compensation":["A percentage of assets under management"],"activities":["Portfolio management for investment companies","Portfolio management for pooled investment vehicles (other than investment companies)","Portfolio management for businesses (other than small businesses) or institutional clients","Selection of other advisers (including private fund managers)"],"financialPlanningClients":null,"assetMix":[{"label":"Exchange-traded equity securities","percent":99},{"label":"Cash and cash equivalents","percent":1}],"privateFunds":0},"sources":{"adv1FilingDate":"1 September 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/144908/PDF/144908.pdf","brochureDate":null,"brochureUrl":null,"iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","updatedOn":"2026-10-21","holdingsUpdatedOn":"2026-10-21","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does The Informed Momentum have?","answer":"The Informed Momentum has 7 clients and manages $1.49 billion for them, as of September 2026. They include 4 pooled investment vehicles and 3 investment companies.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 1 September 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does The Informed Momentum offer?","answer":"The Informed Momentum provides portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and selecting other managers.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Which custodians does The Informed Momentum use?","answer":"The Informed Momentum’s separately managed account assets are held at State Street Bank and Trust Company (Boston, MA), with $457M, The Northern Trust Company (Chicago, IL), with $153M and JP Morgan (New York, NY), with $82.8M. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 1 September 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does The Informed Momentum have?","answer":"The Informed Momentum has 3 investment adviser representatives registered with state securities authorities, out of 22 employees, and 13 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.","source":"Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does The Informed Momentum invest in?","answer":"At the end of its last fiscal year, The Informed Momentum’s separately managed accounts held 99% exchange-traded equities and 1% cash and equivalents.","source":"Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns The Informed Momentum?","answer":"The Informed Momentum is owned through a holding company by Byron Roth. Its direct owners are Travis Prentice, Joshua Moss, Frank Hurst and CR Financial Holdings, Inc., each holding 50% or less.","source":"Form ADV Part 1A, Schedules A and B, filed 1 September 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does The Informed Momentum get paid?","answer":"The Informed Momentum is paid through a percentage of assets under management. Its Form ADV lists no commissions or performance-based fees among how it is paid.","source":"Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How do I contact The Informed Momentum?","answer":"The Informed Momentum’s main office is at 215 Highway 101, Suite 216, Solana Beach, CA 92075. Its phone number is 760-479-5080. Its website is informedmomentum.com.","source":"Form ADV Part 1A, Item 1.F, filed 1 September 2026","sourceRef":{"doc":"adv1","section":"offices"}}],"holdings":{"url":"https://nivawealth.com/firms/the-informed-momentum-144908/holdings","form":"13F-HR","periodOfReport":"2026-06-30","filedOn":"2026-08-13","filingIndexUrl":"https://www.sec.gov/Archives/edgar/data/1510989/000110465926095607/0001104659-26-095607-index.html","totalValue":1122341988,"positionCount":268,"top10Share":0.12617112922269108,"top10":[{"issuer":"Blackrock Inc","titleOfClass":"Funds - Equities ETF","cusip":"46429B614","value":35708323,"shares":504854,"shareType":"SH","priorValue":6292742,"priorShares":104949},{"issuer":"Vicor Corp","titleOfClass":"Common Stock","cusip":"925815102","value":15088280,"shares":39729,"shareType":"SH","priorValue":7423388,"priorShares":46108},{"issuer":"Bloom Energy Corp","titleOfClass":"Common Stock","cusip":"093712107","value":15032990,"shares":49663,"shareType":"SH","priorValue":7544083,"priorShares":55680},{"issuer":"Guardant Health Inc","titleOfClass":"Common Stock","cusip":"40131M109","value":12198039,"shares":81304,"shareType":"SH"},{"issuer":"BrightSpring Health Services Inc","titleOfClass":"Common Stock","cusip":"10950A106","value":11190899,"shares":160466,"shareType":"SH","priorValue":6945345,"priorShares":162998},{"issuer":"CECO Environmental Corp","titleOfClass":"Common Stock","cusip":"125141101","value":10950231,"shares":120677,"shareType":"SH"},{"issuer":"SiTime Corp","titleOfClass":"Common Stock","cusip":"82982T106","value":10484065,"shares":14062,"shareType":"SH","priorValue":5573604,"priorShares":16139},{"issuer":"Sphere Entertainment Co","titleOfClass":"Common Stock","cusip":"55826T102","value":10388202,"shares":60037,"shareType":"SH","priorValue":7159404,"priorShares":60983},{"issuer":"Viavi Solutions Inc","titleOfClass":"Common Stock","cusip":"925550105","value":10321831,"shares":216164,"shareType":"SH","priorValue":8989594,"priorShares":270120},{"issuer":"Semtech Corp","titleOfClass":"Common Stock","cusip":"816850101","value":10244296,"shares":63295,"shareType":"SH"}],"positionsListed":200,"positions":[{"issuer":"Blackrock Inc","titleOfClass":"Funds - Equities ETF","cusip":"46429B614","value":35708323,"shares":504854,"shareType":"SH","priorValue":6292742,"priorShares":104949},{"issuer":"Vicor Corp","titleOfClass":"Common Stock","cusip":"925815102","value":15088280,"shares":39729,"shareType":"SH","priorValue":7423388,"priorShares":46108},{"issuer":"Bloom Energy Corp","titleOfClass":"Common Stock","cusip":"093712107","value":15032990,"shares":49663,"shareType":"SH","priorValue":7544083,"priorShares":55680},{"issuer":"Guardant Health Inc","titleOfClass":"Common Stock","cusip":"40131M109","value":12198039,"shares":81304,"shareType":"SH"},{"issuer":"BrightSpring Health Services Inc","titleOfClass":"Common Stock","cusip":"10950A106","value":11190899,"shares":160466,"shareType":"SH","priorValue":6945345,"priorShares":162998},{"issuer":"CECO Environmental Corp","titleOfClass":"Common Stock","cusip":"125141101","value":10950231,"shares":120677,"shareType":"SH"},{"issuer":"SiTime Corp","titleOfClass":"Common Stock","cusip":"82982T106","value":10484065,"shares":14062,"shareType":"SH","priorValue":5573604,"priorShares":16139},{"issuer":"Sphere Entertainment Co","titleOfClass":"Common Stock","cusip":"55826T102","value":10388202,"shares":60037,"shareType":"SH","priorValue":7159404,"priorShares":60983},{"issuer":"Viavi Solutions Inc","titleOfClass":"Common Stock","cusip":"925550105","value":10321831,"shares":216164,"shareType":"SH","priorValue":8989594,"priorShares":270120},{"issuer":"Semtech Corp","titleOfClass":"Common Stock","cusip":"816850101","value":10244296,"shares":63295,"shareType":"SH"},{"issuer":"DigitalOcean Holdings Inc","titleOfClass":"Common Stock","cusip":"25402D102","value":9522456,"shares":60641,"shareType":"SH","priorValue":5832096,"priorShares":67989},{"issuer":"Modine Manufacturing Co","titleOfClass":"Common Stock","cusip":"607828100","value":9266128,"shares":34702,"shareType":"SH","priorValue":7637077,"priorShares":35241},{"issuer":"Revolution Medicines Inc","titleOfClass":"Common Stock","cusip":"76155X100","value":9243579,"shares":49357,"shareType":"SH","priorValue":4874365,"priorShares":50122},{"issuer":"Kulicke & Soffa Industries Inc","titleOfClass":"Common Stock","cusip":"501242101","value":9023182,"shares":67458,"shareType":"SH","priorValue":4503134,"priorShares":68520},{"issuer":"MACOM Technology Solutions Holdings Inc","titleOfClass":"Common Stock","cusip":"55405Y100","value":9000315,"shares":23662,"shareType":"SH","priorValue":5337675,"priorShares":24036},{"issuer":"TTM Technologies Inc","titleOfClass":"Common Stock","cusip":"87305R109","value":8948907,"shares":47850,"shareType":"SH","priorValue":9276527,"priorShares":95222},{"issuer":"Solaris Energy Infrastructure Inc","titleOfClass":"Common Stock","cusip":"83418M103","value":8946830,"shares":111196,"shareType":"SH","priorValue":6411568,"priorShares":113459},{"issuer":"FormFactor Inc","titleOfClass":"Common Stock","cusip":"346375108","value":8892268,"shares":55601,"shareType":"SH","priorValue":7136524,"priorShares":73580},{"issuer":"Vishay Precision Group Inc","titleOfClass":"Common Stock","cusip":"92835K103","value":8780379,"shares":58571,"shareType":"SH","priorValue":4357458,"priorShares":100356},{"issuer":"Allient Inc","titleOfClass":"Common Stock","cusip":"019330109","value":8639532,"shares":83936,"shareType":"SH","priorValue":1624030,"priorShares":27484},{"issuer":"Viasat Inc","titleOfClass":"Common Stock","cusip":"92552V100","value":8593919,"shares":95690,"shareType":"SH","priorValue":5066167,"priorShares":110615},{"issuer":"Cohu Inc","titleOfClass":"Common Stock","cusip":"192576106","value":8553309,"shares":115726,"shareType":"SH"},{"issuer":"Dycom Industries Inc","titleOfClass":"Common Stock","cusip":"267475101","value":8473688,"shares":16760,"shareType":"SH","priorValue":6575141,"priorShares":19406},{"issuer":"Preformed Line Products Co","titleOfClass":"Common Stock","cusip":"740444104","value":8228854,"shares":20043,"shareType":"SH","priorValue":5512199,"priorShares":20359},{"issuer":"NWPX Infrastructure Inc","titleOfClass":"Common Stock","cusip":"667746101","value":8198869,"shares":54681,"shareType":"SH","priorValue":1256972,"priorShares":16144},{"issuer":"Enova International Inc","titleOfClass":"Common Stock","cusip":"29357K103","value":7968644,"shares":33102,"shareType":"SH"},{"issuer":"Arteris Inc","titleOfClass":"Common Stock","cusip":"04302A104","value":7916914,"shares":162933,"shareType":"SH","priorValue":3381313,"priorShares":205676},{"issuer":"PriceSmart Inc","titleOfClass":"Common Stock","cusip":"741511109","value":7868881,"shares":40283,"shareType":"SH"},{"issuer":"Argan Inc","titleOfClass":"Common Stock","cusip":"04010E109","value":7681252,"shares":9619,"shareType":"SH","priorValue":6137661,"priorShares":11269},{"issuer":"MYR Group Inc","titleOfClass":"Common Stock","cusip":"55405W104","value":7585063,"shares":15158,"shareType":"SH","priorValue":7055177,"priorShares":24990},{"issuer":"Powell Industries Inc","titleOfClass":"Common Stock","cusip":"739128106","value":7282135,"shares":25430,"shareType":"SH"},{"issuer":"Materion Corp","titleOfClass":"Common Stock","cusip":"576690101","value":7236688,"shares":24334,"shareType":"SH"},{"issuer":"Sanmina Corp","titleOfClass":"Common Stock","cusip":"801056102","value":7234039,"shares":28584,"shareType":"SH"},{"issuer":"A10 Networks Inc","titleOfClass":"Common Stock","cusip":"002121101","value":7052372,"shares":188768,"shareType":"SH"},{"issuer":"National Energy Services Reunited Corp","titleOfClass":"Common Stock","cusip":"G6375R107","value":6989014,"shares":233512,"shareType":"SH","priorValue":6014584,"priorShares":280139},{"issuer":"TD SYNNEX Corp","titleOfClass":"Common Stock","cusip":"87162W100","value":6987733,"shares":26138,"shareType":"SH"},{"issuer":"nLight Inc","titleOfClass":"Common Stock","cusip":"65487K100","value":6942854,"shares":99725,"shareType":"SH","priorValue":14071282,"priorShares":246778},{"issuer":"MKS Inc","titleOfClass":"Common Stock","cusip":"55306N104","value":6925981,"shares":15571,"shareType":"SH","priorValue":3634215,"priorShares":15814},{"issuer":"Knowles Corp","titleOfClass":"Common Stock","cusip":"49926D109","value":6841213,"shares":164928,"shareType":"SH"},{"issuer":"Graham Corp","titleOfClass":"Common Stock","cusip":"384556106","value":6835312,"shares":55217,"shareType":"SH","priorValue":4457165,"priorShares":56477},{"issuer":"Chefs' Warehouse Inc/The","titleOfClass":"Common Stock","cusip":"163086101","value":6816565,"shares":70932,"shareType":"SH"},{"issuer":"Terawulf Inc","titleOfClass":"Common Stock","cusip":"88080T104","value":6722698,"shares":272174,"shareType":"SH","priorValue":2580387,"priorShares":178821},{"issuer":"Travere Therapeutics Inc","titleOfClass":"Common Stock","cusip":"89422G107","value":6702841,"shares":117987,"shareType":"SH"},{"issuer":"Axcelis Technologies Inc","titleOfClass":"Common Stock","cusip":"054540208","value":6643254,"shares":35066,"shareType":"SH"},{"issuer":"Plexus Corp","titleOfClass":"Common Stock","cusip":"729132100","value":6641800,"shares":22090,"shareType":"SH","priorValue":4545200,"priorShares":22441},{"issuer":"Ichor Holdings Ltd","titleOfClass":"Common Stock","cusip":"G4740B105","value":6549966,"shares":58336,"shareType":"SH","priorValue":2760804,"priorShares":59232},{"issuer":"LightPath Technologies Inc","titleOfClass":"Common Stock","cusip":"532257805","value":6516440,"shares":398559,"shareType":"SH","priorValue":4293703,"priorShares":428086},{"issuer":"Moog Inc","titleOfClass":"Common Stock","cusip":"615394202","value":6500858,"shares":15338,"shareType":"SH","priorValue":7817878,"priorShares":26715},{"issuer":"FuelCell Energy Inc","titleOfClass":"Common Stock","cusip":"35952H700","value":6440677,"shares":178858,"shareType":"SH"},{"issuer":"Twist Bioscience Corp","titleOfClass":"Common Stock","cusip":"90184D100","value":6436584,"shares":62564,"shareType":"SH"},{"issuer":"Axsome Therapeutics Inc","titleOfClass":"Common Stock","cusip":"05464T104","value":6401225,"shares":26152,"shareType":"SH","priorValue":4490185,"priorShares":26566},{"issuer":"Ducommun Inc","titleOfClass":"Common Stock","cusip":"264147109","value":6358815,"shares":34333,"shareType":"SH","priorValue":4254018,"priorShares":34869},{"issuer":"Onto Innovation Inc","titleOfClass":"Common Stock","cusip":"683344105","value":6352662,"shares":16786,"shareType":"SH"},{"issuer":"Astronics Corp","titleOfClass":"Common Stock","cusip":"046433108","value":6342506,"shares":79042,"shareType":"SH","priorValue":6636499,"priorShares":99453},{"issuer":"Gorman-Rupp Co/The","titleOfClass":"Common Stock","cusip":"383082104","value":6334280,"shares":69046,"shareType":"SH"},{"issuer":"Lattice Semiconductor Corp","titleOfClass":"Common Stock","cusip":"518415104","value":6332238,"shares":41398,"shareType":"SH","priorValue":3898517,"priorShares":42028},{"issuer":"Bel Fuse Inc","titleOfClass":"Common Stock","cusip":"077347300","value":6302449,"shares":18924,"shareType":"SH","priorValue":4755876,"priorShares":24022},{"issuer":"OPENLANE Inc","titleOfClass":"Common Stock","cusip":"48238T109","value":6286131,"shares":152428,"shareType":"SH"},{"issuer":"PDF Solutions Inc","titleOfClass":"Common Stock","cusip":"693282105","value":6237732,"shares":88116,"shareType":"SH"},{"issuer":"Digi International Inc","titleOfClass":"Common Stock","cusip":"253798102","value":6170858,"shares":82333,"shareType":"SH"},{"issuer":"Ligand Pharmaceuticals Inc","titleOfClass":"Common Stock","cusip":"53220K504","value":6163123,"shares":19498,"shareType":"SH"},{"issuer":"Hut 8 Corp","titleOfClass":"Common Stock","cusip":"44812J104","value":6126320,"shares":53067,"shareType":"SH"},{"issuer":"Valmont Industries Inc","titleOfClass":"Common Stock","cusip":"920253101","value":6083283,"shares":10532,"shareType":"SH"},{"issuer":"Krystal Biotech Inc","titleOfClass":"Common Stock","cusip":"501147102","value":6031089,"shares":16227,"shareType":"SH","priorValue":4257889,"priorShares":16483},{"issuer":"Arrow Electronics Inc","titleOfClass":"Common Stock","cusip":"042735100","value":5992766,"shares":28081,"shareType":"SH"},{"issuer":"Diversified Healthcare Trust","titleOfClass":"Common Stock","cusip":"25525P107","value":5942988,"shares":639031,"shareType":"SH","priorValue":4309513,"priorShares":649023},{"issuer":"Jazz Pharmaceuticals PLC","titleOfClass":"Common Stock","cusip":"G50871105","value":5914368,"shares":24544,"shareType":"SH"},{"issuer":"Lindblad Expeditions Holdings Inc","titleOfClass":"Common Stock","cusip":"535219109","value":5899562,"shares":208908,"shareType":"SH"},{"issuer":"Acadian Asset Management Inc","titleOfClass":"Common Stock","cusip":"10948W103","value":5894964,"shares":82424,"shareType":"SH"},{"issuer":"Element Solutions Inc","titleOfClass":"Common Stock","cusip":"28618M106","value":5876640,"shares":123071,"shareType":"SH","priorValue":4267568,"priorShares":125002},{"issuer":"Ultra Clean Holdings Inc","titleOfClass":"Common Stock","cusip":"90385V107","value":5869432,"shares":41163,"shareType":"SH","priorValue":2599311,"priorShares":41803},{"issuer":"Mercury Systems Inc","titleOfClass":"Common Stock","cusip":"589378108","value":5861687,"shares":47917,"shareType":"SH"},{"issuer":"Planet Labs PBC","titleOfClass":"Common Stock","cusip":"72703X106","value":5855396,"shares":176740,"shareType":"SH","priorValue":6741400,"priorShares":241195},{"issuer":"Sterling Infrastructure Inc","titleOfClass":"Common Stock","cusip":"859241101","value":5852857,"shares":6973,"shareType":"SH","priorValue":2884693,"priorShares":7083},{"issuer":"Amneal Pharmaceuticals Inc","titleOfClass":"Common Stock","cusip":"03168L105","value":5844947,"shares":337663,"shareType":"SH"},{"issuer":"Alkermes PLC","titleOfClass":"Common Stock","cusip":"G01767105","value":5808981,"shares":110869,"shareType":"SH"},{"issuer":"Cytokinetics Inc","titleOfClass":"Common Stock","cusip":"23282W605","value":5808680,"shares":68185,"shareType":"SH"},{"issuer":"Xometry Inc","titleOfClass":"Common Stock","cusip":"98423F109","value":5789656,"shares":59984,"shareType":"SH"},{"issuer":"IonQ Inc","titleOfClass":"Common Stock","cusip":"46222L108","value":5784036,"shares":108600,"shareType":"SH"},{"issuer":"Tower Semiconductor Ltd","titleOfClass":"Common Stock","cusip":"M87915274","value":5722091,"shares":21954,"shareType":"SH","priorValue":5014692,"priorShares":28577},{"issuer":"Eton Pharmaceuticals Inc","titleOfClass":"Common Stock","cusip":"29772L108","value":5721229,"shares":158045,"shareType":"SH","priorValue":1200016,"priorShares":48623},{"issuer":"Applied Digital Corp","titleOfClass":"Common Stock","cusip":"038169207","value":5715815,"shares":153239,"shareType":"SH","priorValue":1943689,"priorShares":81874},{"issuer":"Definium Therapeutics Inc","titleOfClass":"Common Stock","cusip":"24477V105","value":5688453,"shares":120928,"shareType":"SH"},{"issuer":"Oruka Therapeutics Inc","titleOfClass":"Common Stock","cusip":"687604108","value":5616362,"shares":59014,"shareType":"SH","priorValue":2940351,"priorShares":59946},{"issuer":"Popular Inc","titleOfClass":"Common Stock","cusip":"733174700","value":5605105,"shares":34140,"shareType":"SH"},{"issuer":"Littelfuse Inc","titleOfClass":"Common Stock","cusip":"537008104","value":5580524,"shares":12256,"shareType":"SH","priorValue":4225247,"priorShares":12451},{"issuer":"Lincoln Educational Services Corp","titleOfClass":"Common Stock","cusip":"533535100","value":5508760,"shares":110396,"shareType":"SH","priorValue":4561326,"priorShares":112127},{"issuer":"Kodiak Gas Services Inc","titleOfClass":"Common Stock","cusip":"50012A108","value":5441441,"shares":72427,"shareType":"SH","priorValue":4290078,"priorShares":73561},{"issuer":"Enerflex Ltd","titleOfClass":"Common Stock","cusip":"29269R105","value":5424593,"shares":220963,"shareType":"SH","priorValue":6319510,"priorShares":303065},{"issuer":"Anterix Inc","titleOfClass":"Common Stock","cusip":"03676C100","value":5407850,"shares":52534,"shareType":"SH"},{"issuer":"Victoria's Secret & Co","titleOfClass":"Common Stock","cusip":"926400102","value":5380870,"shares":64457,"shareType":"SH"},{"issuer":"Spyre Therapeutics Inc","titleOfClass":"Common Stock","cusip":"00773J202","value":5361691,"shares":60393,"shareType":"SH"},{"issuer":"Generac Holdings Inc","titleOfClass":"Common Stock","cusip":"368736104","value":5350810,"shares":18274,"shareType":"SH","priorValue":2554916,"priorShares":13080},{"issuer":"Vita Coco Co Inc/The","titleOfClass":"Common Stock","cusip":"92846Q107","value":5347419,"shares":80850,"shareType":"SH"},{"issuer":"Virtu Financial Inc","titleOfClass":"Common Stock","cusip":"928254101","value":5307687,"shares":89100,"shareType":"SH"},{"issuer":"Proto Labs Inc","titleOfClass":"Common Stock","cusip":"743713109","value":5282093,"shares":64803,"shareType":"SH","priorValue":3753227,"priorShares":65823},{"issuer":"Aramark","titleOfClass":"Common Stock","cusip":"03852U106","value":5249822,"shares":92264,"shareType":"SH"},{"issuer":"Ituran Location and Control Ltd","titleOfClass":"Common Stock","cusip":"M6158M104","value":5242589,"shares":85930,"shareType":"SH"},{"issuer":"Enlight Renewable Energy Ltd","titleOfClass":"Common Stock","cusip":"M4056D110","value":5165726,"shares":58521,"shareType":"SH","priorValue":3879358,"priorShares":58524},{"issuer":"BorgWarner Inc","titleOfClass":"Common Stock","cusip":"099724106","value":5132322,"shares":77294,"shareType":"SH","priorValue":4257294,"priorShares":78461},{"issuer":"MDA Space Ltd","titleOfClass":"Common Stock","cusip":"55293N109","value":5125822,"shares":124100,"shareType":"SH"},{"issuer":"Madison Square Garden Sports Corp","titleOfClass":"Common Stock","cusip":"55825T103","value":5098144,"shares":12687,"shareType":"SH","priorValue":4141882,"priorShares":12887},{"issuer":"Mirum Pharmaceuticals Inc","titleOfClass":"Common Stock","cusip":"604749101","value":5017620,"shares":42860,"shareType":"SH","priorValue":4027121,"priorShares":43593},{"issuer":"Select Water Solutions Inc","titleOfClass":"Common Stock","cusip":"81617J301","value":4998596,"shares":250180,"shareType":"SH"},{"issuer":"Ermenegildo Zegna NV","titleOfClass":"Common Stock","cusip":"N30577105","value":4958914,"shares":380869,"shareType":"SH"},{"issuer":"Trevi Therapeutics Inc","titleOfClass":"Common Stock","cusip":"89532M101","value":4935368,"shares":264631,"shareType":"SH"},{"issuer":"Roivant Sciences Ltd","titleOfClass":"Common Stock","cusip":"45258J102","value":4903304,"shares":127273,"shareType":"SH"},{"issuer":"Life Time Group Holdings Inc","titleOfClass":"Common Stock","cusip":"53190C102","value":4854773,"shares":118873,"shareType":"SH"},{"issuer":"Mayville Engineering Co Inc","titleOfClass":"Common Stock","cusip":"578605107","value":4839158,"shares":129182,"shareType":"SH"},{"issuer":"DaVita Inc","titleOfClass":"Common Stock","cusip":"23918K108","value":4833823,"shares":21727,"shareType":"SH"},{"issuer":"AZZ Inc","titleOfClass":"Common Stock","cusip":"002474104","value":4708248,"shares":30366,"shareType":"SH","priorValue":5275356,"priorShares":42159},{"issuer":"Everus Construction Group Inc","titleOfClass":"Common Stock","cusip":"300426103","value":4700700,"shares":28326,"shareType":"SH","priorValue":3396350,"priorShares":28768},{"issuer":"Garrett Motion Inc","titleOfClass":"Common Stock","cusip":"366505105","value":4671677,"shares":128945,"shareType":"SH","priorValue":3664798,"priorShares":201695},{"issuer":"Benchmark Electronics Inc","titleOfClass":"Common Stock","cusip":"08160H101","value":4666006,"shares":47289,"shareType":"SH"},{"issuer":"Universal Technical Institute Inc","titleOfClass":"Common Stock","cusip":"913915104","value":4656541,"shares":108874,"shareType":"SH","priorValue":3992443,"priorShares":110594},{"issuer":"Knight-Swift Transportation Holdings Inc","titleOfClass":"Common Stock","cusip":"499049104","value":4628515,"shares":59439,"shareType":"SH"},{"issuer":"Universal Insurance Holdings Inc","titleOfClass":"Common Stock","cusip":"91359V107","value":4608083,"shares":111414,"shareType":"SH"},{"issuer":"Covenant Logistics Group Inc","titleOfClass":"Common Stock","cusip":"22284P105","value":4558404,"shares":103178,"shareType":"SH"},{"issuer":"Ambiq Micro Inc","titleOfClass":"Common Stock","cusip":"023193105","value":4500474,"shares":50968,"shareType":"SH"},{"issuer":"EnerSys","titleOfClass":"Common Stock","cusip":"29275Y102","value":4495891,"shares":19228,"shareType":"SH","priorValue":3393099,"priorShares":19532},{"issuer":"Camtek Ltd/Israel","titleOfClass":"Common Stock","cusip":"M20791105","value":4399183,"shares":26969,"shareType":"SH","priorValue":4088770,"priorShares":26969},{"issuer":"Hudbay Minerals Inc","titleOfClass":"Common Stock","cusip":"443628102","value":4279804,"shares":181307,"shareType":"SH","priorValue":2798926,"priorShares":134090},{"issuer":"American Public Education Inc","titleOfClass":"Common Stock","cusip":"02913V103","value":4272909,"shares":79570,"shareType":"SH","priorValue":4985304,"priorShares":87646},{"issuer":"Dave Inc","titleOfClass":"Common Stock","cusip":"23834J201","value":4207659,"shares":11293,"shareType":"SH"},{"issuer":"Tango Therapeutics Inc","titleOfClass":"Common Stock","cusip":"87583X109","value":4189278,"shares":134014,"shareType":"SH","priorValue":3514518,"priorShares":167998},{"issuer":"Encore Capital Group Inc","titleOfClass":"Common Stock","cusip":"292554102","value":4161107,"shares":44604,"shareType":"SH","priorValue":3177067,"priorShares":45309},{"issuer":"Allegro MicroSystems Inc","titleOfClass":"Common Stock","cusip":"01749D105","value":4141346,"shares":59485,"shareType":"SH"},{"issuer":"Cipher Digital Inc","titleOfClass":"Common Stock","cusip":"17253J106","value":4135992,"shares":168816,"shareType":"SH"},{"issuer":"CEVA Inc","titleOfClass":"Common Stock","cusip":"157210105","value":4124236,"shares":87452,"shareType":"SH"},{"issuer":"IES Holdings Inc","titleOfClass":"Common Stock","cusip":"44951W106","value":4086179,"shares":5562,"shareType":"SH","priorValue":2692055,"priorShares":5650},{"issuer":"Lithium Argentina AG","titleOfClass":"Common Stock","cusip":"H5012F103","value":4045720,"shares":489332,"shareType":"SH","priorValue":3260656,"priorShares":489291},{"issuer":"ACM Research Inc","titleOfClass":"Common Stock","cusip":"00108J109","value":4044619,"shares":31875,"shareType":"SH","priorValue":1726442,"priorShares":43874},{"issuer":"Veracyte Inc","titleOfClass":"Common Stock","cusip":"92337F107","value":4029407,"shares":68609,"shareType":"SH"},{"issuer":"Vishay Intertechnology Inc","titleOfClass":"Common Stock","cusip":"928298108","value":3952884,"shares":73501,"shareType":"SH"},{"issuer":"Hinge Health Inc","titleOfClass":"Common Stock","cusip":"433313103","value":3874606,"shares":46682,"shareType":"SH"},{"issuer":"TDR Capital LLP","titleOfClass":"Common Stock","cusip":"87615L107","value":3844070,"shares":188805,"shareType":"SH"},{"issuer":"Dianthus Therapeutics Inc","titleOfClass":"Common Stock","cusip":"252828108","value":3809518,"shares":39080,"shareType":"SH","priorValue":6431629,"priorShares":76640},{"issuer":"Fabrinet","titleOfClass":"Common Stock","cusip":"G3323L100","value":3778864,"shares":6723,"shareType":"SH","priorValue":8742761,"priorShares":16764},{"issuer":"ArcBest Corp","titleOfClass":"Common Stock","cusip":"03937C105","value":3769647,"shares":26262,"shareType":"SH"},{"issuer":"Calumet Inc","titleOfClass":"Common Stock","cusip":"131428104","value":3702028,"shares":102777,"shareType":"SH","priorValue":5445743,"priorShares":151692},{"issuer":"Synaptics Inc","titleOfClass":"Common Stock","cusip":"87157D109","value":3685780,"shares":29669,"shareType":"SH"},{"issuer":"EchoStar Corp","titleOfClass":"Common Stock","cusip":"278768106","value":3664556,"shares":36104,"shareType":"SH","priorValue":6274250,"priorShares":53594},{"issuer":"Pitney Bowes Inc","titleOfClass":"Common Stock","cusip":"724479100","value":3634033,"shares":207422,"shareType":"SH"},{"issuer":"ESCO Technologies Inc","titleOfClass":"Common Stock","cusip":"296315104","value":3590010,"shares":10256,"shareType":"SH","priorValue":1947080,"priorShares":6920},{"issuer":"Enliven Therapeutics Inc","titleOfClass":"Common Stock","cusip":"29337E102","value":3574424,"shares":70432,"shareType":"SH","priorValue":3245525,"priorShares":82794},{"issuer":"Kiniksa Pharmaceuticals International Pl","titleOfClass":"Common Stock","cusip":"G52694109","value":3566172,"shares":55765,"shareType":"SH","priorValue":2720186,"priorShares":56494},{"issuer":"JFrog Ltd","titleOfClass":"Common Stock","cusip":"M6191J100","value":3561315,"shares":39187,"shareType":"SH"},{"issuer":"Aehr Test Systems","titleOfClass":"Common Stock","cusip":"00760J108","value":3489091,"shares":36322,"shareType":"SH"},{"issuer":"International Seaways Inc","titleOfClass":"Common Stock","cusip":"Y41053102","value":3440040,"shares":44915,"shareType":"SH","priorValue":4839961,"priorShares":66410},{"issuer":"Protagonist Therapeutics Inc","titleOfClass":"Common Stock","cusip":"74366E102","value":3369847,"shares":27491,"shareType":"SH","priorValue":2942136,"priorShares":27914},{"issuer":"Clear Secure Inc","titleOfClass":"Common Stock","cusip":"18467V109","value":3172932,"shares":56934,"shareType":"SH","priorValue":3497332,"priorShares":72244},{"issuer":"Frontline PLC","titleOfClass":"Common Stock","cusip":"M46528101","value":3112453,"shares":89464,"shareType":"SH","priorValue":3844396,"priorShares":110281},{"issuer":"AXT Inc","titleOfClass":"Common Stock","cusip":"00246W103","value":3086249,"shares":42817,"shareType":"SH","priorValue":8832527,"priorShares":155011},{"issuer":"Vistance Networks Inc","titleOfClass":"Common Stock","cusip":"20337X109","value":3079788,"shares":240985,"shareType":"SH","priorValue":4452757,"priorShares":244657},{"issuer":"Babcock & Wilcox Enterprises Inc","titleOfClass":"Common Stock","cusip":"05614L209","value":3050211,"shares":216327,"shareType":"SH","priorValue":6984889,"priorShares":475486},{"issuer":"Frequency Electronics Inc","titleOfClass":"Common Stock","cusip":"358010106","value":2977191,"shares":44871,"shareType":"SH","priorValue":2077697,"priorShares":46943},{"issuer":"Iridium Communications Inc","titleOfClass":"Common Stock","cusip":"46269C102","value":2924821,"shares":53324,"shareType":"SH"},{"issuer":"UroGen Pharma Ltd","titleOfClass":"Common Stock","cusip":"M96088105","value":2917173,"shares":79271,"shareType":"SH"},{"issuer":"Xenon Pharmaceuticals Inc","titleOfClass":"Common Stock","cusip":"98420N105","value":2907119,"shares":48163,"shareType":"SH","priorValue":3869882,"priorShares":66550},{"issuer":"EZCORP Inc","titleOfClass":"Common Stock","cusip":"302301106","value":2897312,"shares":83810,"shareType":"SH","priorValue":4416044,"priorShares":173997},{"issuer":"Palvella Therapeutics Inc","titleOfClass":"Common Stock","cusip":"697947109","value":2880504,"shares":18849,"shareType":"SH","priorValue":3655735,"priorShares":29328},{"issuer":"Applied Optoelectronics Inc","titleOfClass":"Common Stock","cusip":"03823U102","value":2857117,"shares":19284,"shareType":"SH","priorValue":3312967,"priorShares":39165},{"issuer":"Sensient Technologies Corp","titleOfClass":"Common Stock","cusip":"81725T100","value":2830985,"shares":22962,"shareType":"SH"},{"issuer":"Timken Co/The","titleOfClass":"Common Stock","cusip":"887389104","value":2654270,"shares":18265,"shareType":"SH","priorValue":3445025,"priorShares":34255},{"issuer":"Bandwidth Inc","titleOfClass":"Common Stock","cusip":"05988J103","value":2636065,"shares":41644,"shareType":"SH"},{"issuer":"FirstCash Holdings Inc","titleOfClass":"Common Stock","cusip":"33768G107","value":2621798,"shares":12120,"shareType":"SH","priorValue":6254572,"priorShares":33269},{"issuer":"Kymera Therapeutics Inc","titleOfClass":"Common Stock","cusip":"501575104","value":2414492,"shares":21056,"shareType":"SH","priorValue":3526582,"priorShares":42341},{"issuer":"Envela Corp","titleOfClass":"Common Stock","cusip":"29402E102","value":2383235,"shares":82522,"shareType":"SH","priorValue":1618786,"priorShares":97166},{"issuer":"One Stop Systems Inc","titleOfClass":"Common Stock","cusip":"68247W109","value":2373726,"shares":130568,"shareType":"SH","priorValue":1029437,"priorShares":135989},{"issuer":"Indivior Pharmaceuticals Inc","titleOfClass":"Common Stock","cusip":"45579U109","value":2350896,"shares":57297,"shareType":"SH","priorValue":1773357,"priorShares":58181},{"issuer":"AAR Corp","titleOfClass":"Common Stock","cusip":"000361105","value":2263297,"shares":15835,"shareType":"SH","priorValue":5157974,"priorShares":47122},{"issuer":"Inhibrx Biosciences Inc","titleOfClass":"Common Stock","cusip":"45720N103","value":2186546,"shares":23077,"shareType":"SH"},{"issuer":"Axogen Inc","titleOfClass":"Common Stock","cusip":"05463X106","value":2074254,"shares":44907,"shareType":"SH","priorValue":1510927,"priorShares":45606},{"issuer":"Cogent Biosciences Inc","titleOfClass":"Common Stock","cusip":"19240Q201","value":2056092,"shares":53129,"shareType":"SH","priorValue":4693009,"priorShares":121928},{"issuer":"10X Genomics Inc","titleOfClass":"Common Stock","cusip":"88025U109","value":2002575,"shares":52232,"shareType":"SH"},{"issuer":"Everspin Technologies Inc","titleOfClass":"Common Stock","cusip":"30041T104","value":1988829,"shares":82251,"shareType":"SH","priorValue":451059,"priorShares":51315},{"issuer":"Orion Group Holdings Inc","titleOfClass":"Common Stock","cusip":"68628V308","value":1895664,"shares":112703,"shareType":"SH","priorValue":1278766,"priorShares":117318},{"issuer":"Kodiak Sciences Inc","titleOfClass":"Common Stock","cusip":"50015M109","value":1894157,"shares":48618,"shareType":"SH","priorValue":3368626,"priorShares":88369},{"issuer":"WESCO International Inc","titleOfClass":"Common Stock","cusip":"95082P105","value":1886393,"shares":5461,"shareType":"SH","priorValue":1517770,"priorShares":5547},{"issuer":"Navitas Semiconductor Corp","titleOfClass":"Common Stock","cusip":"63942X106","value":1857318,"shares":103645,"shareType":"SH"},{"issuer":"Innodata Inc","titleOfClass":"Common Stock","cusip":"457642205","value":1844303,"shares":24402,"shareType":"SH"},{"issuer":"ProPetro Holding Corp","titleOfClass":"Common Stock","cusip":"74347M108","value":1781372,"shares":124224,"shareType":"SH","priorValue":2421990,"priorShares":168077},{"issuer":"Liberty Energy Inc","titleOfClass":"Common Stock","cusip":"53115L104","value":1768951,"shares":67543,"shareType":"SH","priorValue":4704019,"priorShares":163334},{"issuer":"Park Aerospace Corp","titleOfClass":"Common Stock","cusip":"70014A104","value":1719986,"shares":45073,"shareType":"SH","priorValue":1780549,"priorShares":65031},{"issuer":"Movado Group Inc","titleOfClass":"Common Stock","cusip":"624580106","value":1700590,"shares":43261,"shareType":"SH"},{"issuer":"Amtech Systems Inc","titleOfClass":"Common Stock","cusip":"032332504","value":1675123,"shares":72579,"shareType":"SH","priorValue":867882,"priorShares":74305},{"issuer":"QuickLogic Corp","titleOfClass":"Common Stock","cusip":"74837P405","value":1672168,"shares":83734,"shareType":"SH","priorValue":810667,"priorShares":86425},{"issuer":"Mistras Group Inc","titleOfClass":"Common Stock","cusip":"60649T107","value":1615224,"shares":92457,"shareType":"SH","priorValue":1422767,"priorShares":96263},{"issuer":"Bankwell Financial Group Inc","titleOfClass":"Common Stock","cusip":"06654A103","value":1585134,"shares":26981,"shareType":"SH","priorValue":1363024,"priorShares":28092},{"issuer":"SharonAI Holdings Inc","titleOfClass":"Common Stock","cusip":"778920306","value":1501953,"shares":17741,"shareType":"SH"},{"issuer":"Natural Gas Services Group Inc","titleOfClass":"Common Stock","cusip":"63886Q109","value":1451704,"shares":33651,"shareType":"SH","priorValue":1330561,"priorShares":35256},{"issuer":"M-Tron Industries Inc","titleOfClass":"Common Stock","cusip":"55380K109","value":1439261,"shares":14516,"shareType":"SH"},{"issuer":"Mama's Creations Inc","titleOfClass":"Common Stock","cusip":"56146T103","value":1420521,"shares":79581,"shareType":"SH","priorValue":1817514,"priorShares":118482},{"issuer":"Backblaze Inc","titleOfClass":"Common Stock","cusip":"05637B105","value":1419422,"shares":89497,"shareType":"SH"},{"issuer":"Concrete Pumping Holdings Inc","titleOfClass":"Common Stock","cusip":"206704108","value":1417454,"shares":117631,"shareType":"SH"},{"issuer":"Mitek Systems Inc","titleOfClass":"Common Stock","cusip":"606710200","value":1411334,"shares":70111,"shareType":"SH","priorValue":985446,"priorShares":72996},{"issuer":"BK Technologies Corp","titleOfClass":"Common Stock","cusip":"05587G203","value":1391156,"shares":16180,"shareType":"SH","priorValue":1498347,"priorShares":20077},{"issuer":"Twin Disc Inc","titleOfClass":"Common Stock","cusip":"901476101","value":1386734,"shares":59773,"shareType":"SH","priorValue":546257,"priorShares":36248},{"issuer":"Parke Bancorp Inc","titleOfClass":"Common Stock","cusip":"700885106","value":1371398,"shares":41357,"shareType":"SH","priorValue":1222876,"priorShares":43059},{"issuer":"Electromed Inc","titleOfClass":"Common Stock","cusip":"285409108","value":1369124,"shares":32367,"shareType":"SH"}]},"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. Facts as filed; not a rating, ranking, or recommendation. Niva is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}