Portfolio Company

Sector

Book cost (￡’000)

Movement in valuation (￡’000)

Fair Value
(￡’000)

Hasgrove plc¹

Unquoted Investment

153

5,400

5,553

Breedon Group plc

Construction & Building

573

3,547

4,120

Craneware plc

Software & Computer Services

479

3,084

3,563

Judges Scientific plc

Electronic & Electrical

171

2,491

2,662

Animalcare Group plc

Food Producers & Processors

824

1,609

2,433

IDOX plc

Software & Computer Services

356

2,020

2,376

Learning Technologies Group plc

Support Services

701

1,525

2,226

Popsa Holdings Ltd¹

Unquoted Investment

1,060

1,064

2,124

Netcall plc

Telecommunication Services

356

1,653

2,009

GB Group plc

Software & Computer Services

337

1,573

1,910

Intelligent Ultrasound Group plc

Engineering & Machinery

1,437

33

1,470

PCI-Pal plc

Software & Computer Services

863

606

1,469

Equipmake Holdings plc

Electronic & Electrical

1,414

28

1,442

Brooks Macdonald Group plc

Specialty & Other Finance

610

823

1,433

Beeks Financial Cloud Group plc

Software & Computer Services

302

1,121

1,423

Vertu Motors plc

General Retailers

777

560

1,337

Next Fifteen Communications Group plc

Media & Entertainment

302

935

1,237

Maxcyte Inc

Pharmaceuticals & Biotech

690

463

1,153

Diaceutics plc

Pharmaceuticals & Biotech

620

432

1,052

EKF Diagnostics Holdings plc

Health

737

250

987

Scientific Digital Imaging plc

Technology Hardware

119

833

952

Pulsar Group plc

Software & Computer Services

501

348

849

Abingdon Health plc

Medical Equipment and Services

1,077

(311)

766

GENinCode plc

Medical Equipment and Services

1,334

(584)

750

Gamma Communications plc

Telecommunication Services

183

526

709

Itaconix plc

Industrial

1,059

(353)

706

Eden Research plc

Industrial

1,080

(382)

698

Sosandar plc

General Retailers

1,235

(551)

684

Verici Dx plc

Pharmaceuticals & Biotech

1,044

(397)

647

Nexteq plc

Technology Hardware

338

286

624

Strip Tinning Holdings plc Loan Notes

Electronic & Electrical

600

-

600

Cambridge Cognition Holdings plc

Health

717

(145)

572

Haydale Graphene Industries plc

Chemicals

1,238

(683)

555

Gear4music Holdings plc

General Retailers

353

98

451

TPXimpact Holdings plc

Support Services

653

(212)

441

Oberon Investments Group plc

Investment Banking & Brokerage Services

576

(147)

429

Cranswick plc

Food Producers & Processors

404

24

428

Ricardo

Construction & Building

402

21

423

WISE

Industrial

404

4

408

Feedback plc

Software & Computer Services

1,000

(597)

403

GSK plc

Pharmaceuticals & Biotech

402

(21)

381

Mattioli Woods plc

Specialty & Other Finance

101

278

379

llika plc

Energy

706

(340)

366

DP Poland plc

Leisure & Hotels

678

(347)

331

Restore plc

Support Services

171

155

326

Gooch & Housego plc

Electronic & Electrical

281

41

322

RWS Holdings plc

Support Services

99

219

318

MyCelx Technologies Corporation

Oil Services

980

(676)

304

Bytes Technology Group plc

Software & Computer Services

326

(28)

298

Advanced Medical Solutions Group plc

Health

190

98

288

Velocity Composites plc

Engineering & Machinery

533

(270)

263

Creo Medical Group plc

Pharmaceuticals & Biotech

981

(746)

235

Northcoders Group plc

Software & Computer Services

253

(42)

211

Alusid Limited¹

Unquoted Investment

200

-

200

Crimson Tide plc

Software & Computer Services

378

(189)

189

JTC plc

Investment Banking & Brokerage Services

165

24

189

Ixico plc

Health

697

(529)

168

Rosslyn Data Technologies plc

Software & Computer Services

646

(506)

140

Tan Delta Systems plc

Electronic & Electrical

302

(168)

134

Libertine Holdings plc

Industrial Engineering

2,000

(1,870)

130

Gelion plc

Electronic & Electrical

760

(634)

126

Rosslyn Data Technologies plc (Loan)

Software & Computer Services

120

-

120

KRM22 plc

Software & Computer Services

454

(341)

113

ENGAGE XR Holdings

Software & Computer Services

1,253

(1,140)

113

LungLife AI Inc

Pharmaceuticals & Biotech

1,386

(1,284)

102

Strip Tinning Holdings plc

Electronic & Electrical

337

(264)

73

XP Factory PLC

Leisure & Hotels

659

(588)

71

Mears Group plc

Support Services

51

15

66

TheraCryf plc

Pharmaceuticals, Biotechnology and Marijuana Producers

700

(634)

66

Enteq Upstream plc

Oil Services

687

(639)

48

1Spatial plc

Support Services

200

(157)

43

DXS International plc

Software & Computer Services

200

(170)

30

Fusion Antibodies plc

Pharmaceuticals & Biotech

497

(479)

18

Tasty plc

Leisure & Hotels

336

(320)

16

Genedrive Plc

Pharmaceuticals & Biotech

145

(138)

7

Microsaic Systems plc

Engineering & Machinery

922

(922)

-

Sorted Group Holdings Plc

Software & Computer Services

509

(509)

-

Airnow plc¹

Unquoted Investment

838

(838)

-

The British Honey Company plc

General Retailers

880

(880)

-

Cloudified Holdings Limited

Software & Computer Services

600

(600)

-

Rated People Ltd¹

Unquoted Investment

236

(236)

-

ReNeuron Group plc

Pharmaceuticals & Biotech

990

(990)

-

Trackwise Designs plc

Electronic & Electrical

1,289

(1,289)

-

The Food Marketplace Ltd¹

Retailers

200

(200)

-

Eluceda Limited¹

Pharmaceuticals & Biotech

200

(200)

-