Phocas Financial 13F-HR Quarterly holdings report by institutional manager

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
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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
ABBVIE INC	COM	00287Y109	5,070	80,961	SH		SOLE	0	80,961	0	0
ABM INDS INC	COM	000957100	6,190	151,555	SH		SOLE	0	151,555	0	0
ACADIA REALTY TRUST	COM	004239109	12,400	379,444	SH		SOLE	0	379,444	0	0
ACETO CORP	COM	004446100	11,808	537,463	SH		SOLE	0	537,463	0	0
AFFILIATED MNGRS GRP	COM	008252108	3,294	22,672	SH		SOLE	0	22,672	0	0
ALEXANDRIA REAL ESTATE	COM	015271109	10,924	98,297	SH		SOLE	0	98,297	0	0
ALLERGAN PLC	SHS	G0177J108	3,678	17,512	PRN		SOLE	0	17,512	0	0
ALLIANCE DATA SYS CORP	COM	018581108	3,547	15,521	SH		SOLE	0	15,521	0	0
ALPHABET INC CL A	COM	02079K305	815	1,028	SH		SOLE	0	1,028	0	0
ALPHABET INC CL C	COM	02079K107	5,193	6,728	SH		SOLE	0	6,728	0	0
AMERICAN INTL GROUP	COM	026874784	8,224	125,922	SH		SOLE	0	125,922	0	0
AMERIPRISE FINL INC	COM	03076C106	2,121	19,121	SH		SOLE	0	19,121	0	0
APACHE CORP	COM	037411105	4,392	69,203	SH		SOLE	0	69,203	0	0
APPLE COMPUTER INC	COM	037833100	4,867	42,019	SH		SOLE	0	42,019	0	0
ARMADA HOFFLER PROPERTIES INC	COM	04208T108	5,837	400,602	SH		SOLE	0	400,602	0	0
ASTEC INDS INC	COM	046224101	10,379	153,856	SH		SOLE	0	153,856	0	0
AT&T INC	COM	00206R102	5,149	121,063	SH		SOLE	0	121,063	0	0
ATLANTIC CAPITAL BANCSHARES INC	COM	048269203	210	11,047	SH		SOLE	0	11,047	0	0
AVALONBAY COMMUNITIES	COM	053484101	2,373	13,398	SH		SOLE	0	13,398	0	0
BAKER HUGHES INC	COM	057224107	6,207	95,530	SH		SOLE	0	95,530	0	0
BANK OF AMERICA CORP	COM	060505104	9,347	422,948	SH		SOLE	0	422,948	0	0
BANK OF MARIN BANCORP	COM	063425102	431	6,182	SH		SOLE	0	6,182	0	0
BANNER CORP	COM	06652V208	18,419	330,035	SH		SOLE	0	330,035	0	0
BERKSHIRE HATHAWAY CLASS B	COM	084670702	240	1,470	SH		SOLE	0	1,470	0	0
BLACK HILLS CORP	COM	092113109	10,829	176,540	SH		SOLE	0	176,540	0	0
BNC BANCORP	COM	05566T101	13,327	417,762	SH		SOLE	0	417,762	0	0
BOK FINL CORP COM NEW	COM	05561Q201	7,404	89,160	SH		SOLE	0	89,160	0	0
BOSTON PROPERTIES INC	COM	101121101	1,437	11,428	SH		SOLE	0	11,428	0	0
BROWN & BROWN INC	COM	115236101	6,120	136,423	SH		SOLE	0	136,423	0	0
BRYN MAWR BK CORP	COM	117665109	13,293	315,371	SH		SOLE	0	315,371	0	0
CABOT CORP	COM	127055101	2,576	50,962	SH		SOLE	0	50,962	0	0
CALLON PETE CO DEL	COM	13123X102	12,026	782,431	SH		SOLE	0	782,431	0	0
CALPINE CORP	COM	131347304	5,237	458,168	SH		SOLE	0	458,168	0	0
CAMDEN PROPERTY TRUST	COM	133131102	499	5,932	SH		SOLE	0	5,932	0	0
CAPITAL BANK FINANCIAL CORP	COM	139794101	7,252	184,768	SH		SOLE	0	184,768	0	0
CARRIZO OIL & GAS	COM	144577103	13,861	371,116	SH		SOLE	0	371,116	0	0
CASS INFORMATION SYSTEMS INC	COM	14808P109	5,564	75,625	SH		SOLE	0	75,625	0	0
CBIZ INC	COM	124805102	13,591	992,061	SH		SOLE	0	992,061	0	0
CENTERSTATE BANKS INC	COM	15201P109	18,555	737,182	SH		SOLE	0	737,182	0	0
CHATHAM LODGING TRUST	COM	16208T102	304	14,800	SH		SOLE	0	14,800	0	0
CHEMBIO DIAGNOSTICS	COM	163572209	136	20,000	SH		SOLE	0	20,000	0	0
CHESAPEAKE UTILITIES CORP.	COM	165303108	10,865	162,278	SH		SOLE	0	162,278	0	0
CHEVRON CORP NEW	COM	166764100	6,615	56,200	SH		SOLE	0	56,200	0	0
CHUBB LTD	COM	H1467J104	4,931	37,322	SH		SOLE	0	37,322	0	0
CIGNA CORP	COM	125509109	3,900	29,240	SH		SOLE	0	29,240	0	0
CIT GROUP INC	COM	125581801	6,102	142,965	SH		SOLE	0	142,965	0	0
CITIGROUP INC	COM	172967424	8,315	139,910	SH		SOLE	0	139,910	0	0
CITRIX SYS INC	COM	177376100	3,117	34,898	SH		SOLE	0	34,898	0	0
CNO FINANCIAL INC	COM	12621E103	20,411	1,065,840	SH		SOLE	0	1,065,840	0	0
COCA COLA EUROPEAN PARTNERS PLC	SHS	G25839104	2,552	81,274	PRN		SOLE	0	81,274	0	0
COLGATE PALMOLIVE CO	COM	194162103	467	7,140	SH		SOLE	0	7,140	0	0
COLONY CAPITAL	COM	19624R106	11,426	564,246	SH		SOLE	0	564,246	0	0
COLUMBIA SPORTSWEAR CO	COM	198516106	5,625	96,484	SH		SOLE	0	96,484	0	0
CONAGRA BRANDS INC	COM	205887102	4,813	121,701	SH		SOLE	0	121,701	0	0
CONOCOPHILLIPS	COM	20825C104	8,000	159,558	SH		SOLE	0	159,558	0	0
CORENERGY INFRASTRUCTURE TRUST, INC	COM	21870U502	527	15,113	SH		SOLE	0	15,113	0	0
CORESITE REALTY CORP	COM	21870Q105	15,933	200,743	SH		SOLE	0	200,743	0	0
CROWN HOLDINGS INC	COM	228368106	3,854	73,304	SH		SOLE	0	73,304	0	0
CURTISS WRIGHT CORP	COM	231561101	18,472	187,797	SH		SOLE	0	187,797	0	0
CVS HEALTH CORP	COM	126650100	3,931	49,818	SH		SOLE	0	49,818	0	0
CYPRESS SEMICONDUCTOR	COM	232806109	12,209	1,067,210	SH		SOLE	0	1,067,210	0	0
DELUXE CORP	COM	248019101	15,436	215,550	SH		SOLE	0	215,550	0	0
DICKS SPORTING GOODS	COM	253393102	5,658	106,555	SH		SOLE	0	106,555	0	0
DOVER CORP	COM	260003108	648	8,652	SH		SOLE	0	8,652	0	0
DOW CHEM CO	COM	260543103	384	6,715	SH		SOLE	0	6,715	0	0
DUKE ENERGY CORP	COM	26441C204	5,634	72,582	SH		SOLE	0	72,582	0	0
EATON CORP PLC	SHS	G29183103	3,606	53,747	PRN		SOLE	0	53,747	0	0
EDUCATION RLTY TR INC	COM	28140H203	9,164	216,642	SH		SOLE	0	216,642	0	0
EMCOR GROUP INC	COM	29084Q100	6,823	96,429	SH		SOLE	0	96,429	0	0
EMMIS COMMUNICTNS CORP CL A	COM	291525103	255	75,078	SH		SOLE	0	75,078	0	0
ENTERCOM COMM CORP CL A	COM	293639100	9,246	604,306	SH		SOLE	0	604,306	0	0
ENVISION HEALTHCARE HOLDINGS, INC	COM	29414D100	9,739	153,886	SH		SOLE	0	153,886	0	0
EQUITY LIFESTYLE PPTYS	COM	29472R108	938	13,015	SH		SOLE	0	13,015	0	0
EQUITY RESIDENTIAL	COM	29476L107	574	8,914	SH		SOLE	0	8,914	0	0
ESSEX PROPERTY TRUST	COM	297178105	981	4,220	SH		SOLE	0	4,220	0	0
ESTERLINE TECHNOLOGIES	COM	297425100	7,891	88,465	SH		SOLE	0	88,465	0	0
EXTRA SPACE STORAGE	COM	30225T102	1,576	20,402	SH		SOLE	0	20,402	0	0
EXXON MOBIL CORP	COM	30231G102	11,751	130,191	SH		SOLE	0	130,191	0	0
F M C CORP COM NEW	COM	302491303	4,757	84,106	SH		SOLE	0	84,106	0	0
FEDERAL REALTY INVT TR	COM	313747206	377	2,655	SH		SOLE	0	2,655	0	0
FERRO CORP	COM	315405100	9,609	670,558	SH		SOLE	0	670,558	0	0
FIRST AMERN CORP CALIF	COM	31847R102	4,602	125,630	SH		SOLE	0	125,630	0	0
FIRST INDUSTRIAL RLTY	COM	32054K103	963	34,344	SH		SOLE	0	34,344	0	0
FIRST POTOMAC RLTY TR	COM	33610F109	506	46,094	SH		SOLE	0	46,094	0	0
FIRST REP BK SAN	COM	33616C100	5,617	60,961	SH		SOLE	0	60,961	0	0
FNB CORP	COM	302520101	7,843	489,282	SH		SOLE	0	489,282	0	0
GALLAGHER ARTHUR J &CO	COM	363576109	5,270	101,423	SH		SOLE	0	101,423	0	0
GENERAL ELEC CO	COM	369604103	6,851	216,809	SH		SOLE	0	216,809	0	0
GIBRALTAR INDS INC	COM	374689107	14,108	338,721	SH		SOLE	0	338,721	0	0
GOLDMAN SACHS GROUP	COM	38141G104	6,634	27,707	SH		SOLE	0	27,707	0	0
GREAT PLAINS ENERGY	COM	391164100	5,938	217,098	SH		SOLE	0	217,098	0	0
GUARANTY BANKCORP (COLORADO)	COM	40075T607	6,286	259,732	SH		SOLE	0	259,732	0	0
GUGGENHEIM SPIN-OFF	COM	18383M605	1,277	29,406	SH		SOLE	0	29,406	0	0
HANESBRANDS INC	COM	410345102	3,805	176,399	SH		SOLE	0	176,399	0	0
HCA INC	COM	40412C101	3,122	42,175	SH		SOLE	0	42,175	0	0
HD SUPPLY HOLDINGS INC	COM	40416M105	6,613	155,554	SH		SOLE	0	155,554	0	0
HEARTLAND FINL USA INC	COM	42234Q102	18,620	387,908	SH		SOLE	0	387,908	0	0
HERBALIFE LTD	COM	G4412G101	2,340	48,603	SH		SOLE	0	48,603	0	0
HERITAGE COMMERCE CORP	COM	426927109	7,747	536,866	SH		SOLE	0	536,866	0	0
HERITAGE FINANCIAL CORP	COM	42722X106	10,996	427,036	SH		SOLE	0	427,036	0	0
HERITAGE OAKS BANCORP	COM	42724R107	14,312	1,160,750	SH		SOLE	0	1,160,750	0	0
HUDSON PACIFIC PROPERTIES, INC.	COM	444097109	12,527	360,189	SH		SOLE	0	360,189	0	0
IBERIABANK CORP	COM	450828108	19,275	230,144	SH		SOLE	0	230,144	0	0
IDACORP INC	COM	451107106	6,461	80,212	SH		SOLE	0	80,212	0	0
INTEL CORP	COM	458140100	933	25,711	SH		SOLE	0	25,711	0	0
ISHARES INTERNATIONAL DEVELOPED REAL EST	COM	464288489	639	24,325	SH		SOLE	0	24,325	0	0
ISHARES RUSSELL 2000 VALUE	COM	464287630	212	1,780	SH		SOLE	0	1,780	0	0
ISHARES S&P U.S. PREFERRED STOCK INDEX F	NOTE	464288687	4,565	122,679	SH		SOLE	0	122,679	0	0
ISHARES TR DJ US REAL EST	COM	464287739	823	10,698	SH		SOLE	0	10,698	0	0
JC PENNEY INC	COM	708160106	8,640	1,039,654	SH		SOLE	0	1,039,654	0	0
JOHNSON & JOHNSON	COM	478160104	5,640	48,958	SH		SOLE	0	48,958	0	0
JPMORGAN CHASE & CO	COM	46625H100	12,684	146,995	SH		SOLE	0	146,995	0	0
KADANT INC	COM	48282T104	11,094	181,276	SH		SOLE	0	181,276	0	0
KAISER ALUMINUM CORP	COM	483007704	7,221	92,947	SH		SOLE	0	92,947	0	0
KAPSTONE PAPER & PACKAGING CORP	COM	48562P103	7,993	362,482	SH		SOLE	0	362,482	0	0
KILROY REALTY CORP	COM	49427F108	614	8,379	SH		SOLE	0	8,379	0	0
KIMCO REALTY CORP	COM	49446R109	338	13,424	SH		SOLE	0	13,424	0	0
KINDER MORGAN INC KANS	COM	49456B101	6,051	292,191	SH		SOLE	0	292,191	0	0
LABORATORY AMER HLDGS COM NEW	COM	50540R409	236	1,835	SH		SOLE	0	1,835	0	0
LAMB WESTON HOLDINGS INC	COM	513272104	4,643	122,667	SH		SOLE	0	122,667	0	0
MACERICH CO	COM	554382101	294	4,157	SH		SOLE	0	4,157	0	0
MAGELLAN MIDSTREAM	COM	559080106	280	3,700	SH		SOLE	0	3,700	0	0
MALLINCKRODT PLC	SHS	G5785G107	3,046	61,131	PRN		SOLE	0	61,131	0	0
MATERION CORP	COM	576690101	11,576	292,311	SH		SOLE	0	292,311	0	0
MATTEL INC	COM	577081102	4,104	148,973	SH		SOLE	0	148,973	0	0
MERCK & CO INC	COM	58933Y105	4,486	76,194	SH		SOLE	0	76,194	0	0
MEREDITH CORP	COM	589433101	10,171	171,960	SH		SOLE	0	171,960	0	0
METLIFE INC	COM	59156R108	5,213	96,737	SH		SOLE	0	96,737	0	0
MICROSOFT CORP	COM	594918104	225	3,620	SH		SOLE	0	3,620	0	0
MKS INSTRUMENT INC	COM	55306N104	12,007	202,133	SH		SOLE	0	202,133	0	0
MYR GROUP INC	COM	55405W104	12,411	329,388	SH		SOLE	0	329,388	0	0
NATIONAL CINEMEDIA	COM	635309107	6,810	462,352	SH		SOLE	0	462,352	0	0
NATIONAL STORAGE AFFILIATES TRUST	COM	637870106	10,830	490,697	SH		SOLE	0	490,697	0	0
NCR CORP NEW	COM	62886E108	27,843	686,475	SH		SOLE	0	686,475	0	0
NEWELL RUBBERMAID INC	COM	651229106	603	13,509	SH		SOLE	0	13,509	0	0
NOBLE ENRGY INC	COM	655044105	7,536	198,014	SH		SOLE	0	198,014	0	0
NORFOLK SOUTHERN CORP	COM	655844108	4,412	40,830	SH		SOLE	0	40,830	0	0
NORTHSTAR ASSET MANAGEMENT GROUP	COM	66705y104	5,473	366,851	SH		SOLE	0	366,851	0	0
NORWEGIAN CRUISE LINE HOLDINGS LTD.	SHS	G66721104	4,986	117,226	PRN		SOLE	0	117,226	0	0
NXP SEMICONDUCTORS	COM	N6596X109	4,132	42,164	SH		SOLE	0	42,164	0	0
OFFICE DEPOT INC	COM	676220106	12,400	2,743,454	SH		SOLE	0	2,743,454	0	0
ON ASSIGNMENT INC	COM	682159108	5,393	122,113	SH		SOLE	0	122,113	0	0
ORBITAL ATK, INC	COM	68557N103	4,319	49,236	SH		SOLE	0	49,236	0	0
PACIFIC PREMIER BANCORP	COM	69478X105	15,322	433,429	SH		SOLE	0	433,429	0	0
PAREXEL INTL CORP	COM	699462107	4,934	75,072	SH		SOLE	0	75,072	0	0
PARK STERLING BANK	COM	70086Y105	10,124	938,251	SH		SOLE	0	938,251	0	0
PDC ENERGY	COM	69327R101	13,538	186,529	SH		SOLE	0	186,529	0	0
PEBBLEBROOK HOTEL	COM	70509V100	6,251	210,131	SH		SOLE	0	210,131	0	0
PEPSICO INC	COM	713448108	944	9,025	SH		SOLE	0	9,025	0	0
PFIZER INC	COM	717081103	6,398	196,972	SH		SOLE	0	196,972	0	0
PHARMERICA	COM	71714F104	7,474	297,160	SH		SOLE	0	297,160	0	0
PHOTRONICS INC	COM	719405102	5,507	487,351	SH		SOLE	0	487,351	0	0
PLEXUS CORP	COM	729132100	12,144	224,714	SH		SOLE	0	224,714	0	0
PNM RES INC	COM	69349H107	8,520	248,407	SH		SOLE	0	248,407	0	0
PORTLAND GENERAL	COM	736508847	7,482	172,683	SH		SOLE	0	172,683	0	0
PRIMERICA	COM	74164M108	6,954	100,563	SH		SOLE	0	100,563	0	0
PROCTER & GAMBLE CO	COM	742718109	4,712	56,037	SH		SOLE	0	56,037	0	0
PROGENICS PHARMA INC	COM	743187106	13,750	1,591,462	SH		SOLE	0	1,591,462	0	0
PROGRESS SOFTWARE CORP	COM	743312100	11,424	357,789	SH		SOLE	0	357,789	0	0
PROLOGIS	COM	74340W103	4,575	86,657	SH		SOLE	0	86,657	0	0
PUBLIC STORAGE INC	COM	74460D109	934	4,180	SH		SOLE	0	4,180	0	0
QTS REALTY TRUST INC	COM	74736A103	712	14,347	SH		SOLE	0	14,347	0	0
RADIAN GROUP INC	COM	750236101	13,010	723,606	SH		SOLE	0	723,606	0	0
RED ROBIN GOURMET BURG	COM	75689M101	5,799	102,812	SH		SOLE	0	102,812	0	0
REGENCY CTRS CORP	COM	758849103	545	7,901	SH		SOLE	0	7,901	0	0
REXFORD INDUSTRIAL REALTY	COM	76169C100	12,303	530,517	SH		SOLE	0	530,517	0	0
RING ENERGY, INC.	COM	76680V108	16,747	1,289,194	SH		SOLE	0	1,289,194	0	0
SABRA HEALTH CARE REIT	COM	78573L106	10,298	421,692	SH		SOLE	0	421,692	0	0
SCHLUMBERGER LTD	COM	806857108	396	4,722	SH		SOLE	0	4,722	0	0
SCHWAB LARGE CAP ETF	COM	808524201	4,986	93,625	SH		SOLE	0	93,625	0	0
SCHWAB US BROAD MARKET ETF	COM	808524102	1,117	20,620	SH		SOLE	0	20,620	0	0
SCHWAB US REIT ETF	COM	808524847	1,294	31,523	SH		SOLE	0	31,523	0	0
SCHWAB US SMALL CAP ETF	COM	808524607	216	3,515	SH		SOLE	0	3,515	0	0
SCIENCE APPLICATIONS INTERNATIONAL	COM	808625107	16,342	192,708	SH		SOLE	0	192,708	0	0
SCRIPPS NETWORKS INTERACTIVE INC	COM	811065101	4,709	65,987	SH		SOLE	0	65,987	0	0
SELECTIVE INS GROUP	COM	816300107	10,412	241,860	SH		SOLE	0	241,860	0	0
SENSIENT TECH CORP	COM	81725T100	10,623	135,183	SH		SOLE	0	135,183	0	0
SERITAGE GROWTH PROPERTIES	COM	81752R100	5,072	118,745	SH		SOLE	0	118,745	0	0
SHIRE PLC	COM	82481R106	3,481	20,429	SH		SOLE	0	20,429	0	0
SIGNET JEWELERS LTD	SHS	G81276100	2,990	31,716	PRN		SOLE	0	31,716	0	0
SILICON MOTION TECHNOLOGY CORP	COM	82706C108	5,964	140,388	SH		SOLE	0	140,388	0	0
SIMON PROPERTY GROUP	COM	828806109	2,435	13,704	SH		SOLE	0	13,704	0	0
SINCLAIR BROADCAST GRP CL A	COM	829226109	13,772	412,946	SH		SOLE	0	412,946	0	0
SKYWEST INC	COM	830879102	18,479	506,975	SH		SOLE	0	506,975	0	0
SKYWORKS SOLUTIONS INC	COM	83088M102	5,546	74,286	SH		SOLE	0	74,286	0	0
SL GREEN REALTY	COM	78440X101	4,787	44,509	SH		SOLE	0	44,509	0	0
SOUTH JERSEY INDS INC	COM	838518108	5,773	171,357	SH		SOLE	0	171,357	0	0
SOUTHERN CO	COM	842587107	5,562	113,067	SH		SOLE	0	113,067	0	0
SPDR DOW JONES WILSHIRE INTERNATIONAL	COM	78463X863	261	7,229	SH		SOLE	0	7,229	0	0
SPDR S&P DEPOSITORY RECEIPTS	COM	78462F103	1,024	4,579	SH		SOLE	0	4,579	0	0
SPIRE, INC	COM	84857L101	8,047	124,662	SH		SOLE	0	124,662	0	0
STAG INDUSTRIAL	COM	85254J102	562	23,552	SH		SOLE	0	23,552	0	0
STANLEY BLACK & DECKER	COM	854502101	5,768	50,288	SH		SOLE	0	50,288	0	0
STATE BANK & TRUST	COM	856190103	13,326	496,512	SH		SOLE	0	496,512	0	0
SUN COMMUNITIES INC	COM	866674104	15,538	202,820	SH		SOLE	0	202,820	0	0
SUPERIOR ENERGY SVCS	COM	868157108	4,542	269,047	SH		SOLE	0	269,047	0	0
SYNNEX CORP	COM	87162W100	4,180	34,538	SH		SOLE	0	34,538	0	0
SYNOVUS FINL CORP	COM	87161C501	15,519	377,767	SH		SOLE	0	377,767	0	0
TE CONNECTIVITY LTD	REG SHS	H84989104	3,174	45,816	PRN		SOLE	0	45,816	0	0
TETRA TECH INC NEW	COM	88162G103	18,687	433,069	SH		SOLE	0	433,069	0	0
TIMKEN CO	COM	887389104	11,629	292,932	SH		SOLE	0	292,932	0	0
TIMKENSTEEL CORP COM	COM	887399103	6,202	400,658	SH		SOLE	0	400,658	0	0
TOPBUILD CORP	COM	89055F103	10,226	287,244	SH		SOLE	0	287,244	0	0
TOWER INTERNATIONAL, INC	COM	891826109	11,852	418,071	SH		SOLE	0	418,071	0	0
TREEHOUSE FOODS INC	COM	89469A104	7,108	98,465	SH		SOLE	0	98,465	0	0
TRICO BANCSHARES	COM	896095106	12,904	377,539	SH		SOLE	0	377,539	0	0
UNILEVER NV	COM	904784709	246	6,000	SH		SOLE	0	6,000	0	0
UNITED CMNTY BKS GA CAP STK	COM	90984P303	22,102	746,183	SH		SOLE	0	746,183	0	0
UNITED CONTINENTAL HOLDINGS, INC.	COM	910047109	4,210	57,768	SH		SOLE	0	57,768	0	0
URBAN OUTFITTERS	COM	917047102	4,527	158,945	SH		SOLE	0	158,945	0	0
USANA HEALTH SCIENCES	COM	90328M107	8,311	135,806	SH		SOLE	0	135,806	0	0
VASCO DATA SECURITY INTERNATIONAL, INC	COM	92230Y104	3,640	266,672	SH		SOLE	0	266,672	0	0
VENTAS INC	COM	92276F100	411	6,570	SH		SOLE	0	6,570	0	0
VEREIT INC	COM	92339V100	3,551	419,776	SH		SOLE	0	419,776	0	0
VERINT SYS INC	COM	92343X100	7,533	213,710	SH		SOLE	0	213,710	0	0
VERIZON COMMUNICATIONS	COM	92343V104	4,607	86,314	SH		SOLE	0	86,314	0	0
VORNADO REALTY TRUST	COM	929042109	3,945	37,803	SH		SOLE	0	37,803	0	0
WALT DISNEY CO	COM	254687106	901	8,647	SH		SOLE	0	8,647	0	0
WEB.COM GROUP INC	COM	94733A104	4,396	207,850	SH		SOLE	0	207,850	0	0
WELLS FARGO & CO	COM	949746101	505	9,159	SH		SOLE	0	9,159	0	0
WELLTOWER INC	COM	95040Q104	730	10,912	SH		SOLE	0	10,912	0	0
WESTROCK CO	COM	96145D105	4,027	79,310	SH		SOLE	0	79,310	0	0
WILLIAMS SONOMA INC	COM	969904101	2,248	46,463	SH		SOLE	0	46,463	0	0
WINTRUST FINL CORP	COM	97650W108	15,465	213,110	SH		SOLE	0	213,110	0	0
YADKIN FINANCIAL CORPORATION	COM	984305102	19,831	578,835	SH		SOLE	0	578,835	0	0