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	2,649	40,650	SH		SOLE	0	40,650	0	0
ABM INDS INC	COM	000957100	5,817	133,417	SH		SOLE	0	133,417	0	0
ACADIA REALTY TRUST	COM	004239109	10,117	336,552	SH		SOLE	0	336,552	0	0
AFFILIATED MNGRS GRP	COM	008252108	435	2,653	SH		SOLE	0	2,653	0	0
ALEXANDRIA REAL ESTATE	COM	015271109	2,756	24,939	SH		SOLE	0	24,939	0	0
ALLIANCE DATA SYS CORP	COM	018581108	375	1,508	SH		SOLE	0	1,508	0	0
ALPHABET INC CL A	COM	02079K305	872	1,028	SH		SOLE	0	1,028	0	0
ALPHABET INC CL C	COM	02079K107	770	928	SH		SOLE	0	928	0	0
AMERICAN INTL GROUP	COM	026874784	946	15,149	SH		SOLE	0	15,149	0	0
AMERIPRISE FINL INC	COM	03076C106	240	1,850	SH		SOLE	0	1,850	0	0
APACHE CORP	COM	037411105	347	6,757	SH		SOLE	0	6,757	0	0
APPLE COMPUTER INC	COM	037833100	2,072	14,420	SH		SOLE	0	14,420	0	0
ARMADA HOFFLER PROPERTIES INC	COM	04208T108	431	31,029	SH		SOLE	0	31,029	0	0
ASTEC INDS INC	COM	046224101	9,883	160,712	SH		SOLE	0	160,712	0	0
AT&T INC	COM	00206R102	1,399	33,682	SH		SOLE	0	33,682	0	0
ATLANTIC CAPITAL BANCSHARES INC	COM	048269203	209	11,047	SH		SOLE	0	11,047	0	0
AVALONBAY COMMUNITIES	COM	053484101	2,422	13,189	SH		SOLE	0	13,189	0	0
BAKER HUGHES INC	COM	057224107	561	9,375	SH		SOLE	0	9,375	0	0
BANK OF AMERICA CORP	COM	060505104	1,089	46,183	SH		SOLE	0	46,183	0	0
BANNER CORP	COM	06652V208	16,171	290,639	SH		SOLE	0	290,639	0	0
BASIC ENERGY SERVICE	COM NEW	06985P209	2,592	77,684	PRN		SOLE	0	77,684	0	0
BERKSHIRE HATHAWAY CLASS B	COM	084670702	245	1,470	SH		SOLE	0	1,470	0	0
BLACK HILLS CORP	COM	092113109	7,217	108,578	SH		SOLE	0	108,578	0	0
BOK FINL CORP COM NEW	COM	05561Q201	1,032	13,184	SH		SOLE	0	13,184	0	0
BOSTON PRIVT FINL HLDG	COM	101119105	4,904	299,007	SH		SOLE	0	299,007	0	0
BOSTON PROPERTIES INC	COM	101121101	1,434	10,830	SH		SOLE	0	10,830	0	0
BROWN & BROWN INC	COM	115236101	5,010	120,096	SH		SOLE	0	120,096	0	0
BRYN MAWR BK CORP	COM	117665109	10,967	277,655	SH		SOLE	0	277,655	0	0
CABOT CORP	COM	127055101	297	4,950	SH		SOLE	0	4,950	0	0
CACI INTERNATIONAL INC	COM	127190304	7,023	59,875	SH		SOLE	0	59,875	0	0
CALLON PETE CO DEL	COM	13123X102	9,065	688,794	SH		SOLE	0	688,794	0	0
CALPINE CORP	COM	131347304	4,449	402,608	SH		SOLE	0	402,608	0	0
CAMDEN PROPERTY TRUST	COM	133131102	437	5,436	SH		SOLE	0	5,436	0	0
CAPITAL BANK FINANCIAL CORP	COM	139794101	8,015	184,674	SH		SOLE	0	184,674	0	0
CARRIZO OIL & GAS	COM	144577103	5,814	202,871	SH		SOLE	0	202,871	0	0
CASS INFORMATION SYSTEMS INC	COM	14808P109	4,409	66,699	SH		SOLE	0	66,699	0	0
CBIZ INC	COM	124805102	11,836	873,528	SH		SOLE	0	873,528	0	0
CENTERSTATE BANKS INC	COM	15201P109	16,808	648,973	SH		SOLE	0	648,973	0	0
CHATHAM LODGING TRUST	COM	16208T102	4,988	252,553	SH		SOLE	0	252,553	0	0
CHEMBIO DIAGNOSTICS	COM	163572209	106	20,000	SH		SOLE	0	20,000	0	0
CHESAPEAKE UTILITIES CORP.	COM	165303108	9,885	142,846	SH		SOLE	0	142,846	0	0
CHEVRON CORP NEW	COM	166764100	1,283	11,949	SH		SOLE	0	11,949	0	0
CIGNA CORP	COM	125509109	1,143	7,803	SH		SOLE	0	7,803	0	0
CIT GROUP INC	COM	125581801	589	13,714	SH		SOLE	0	13,714	0	0
CITIGROUP INC	COM	172967424	1,223	20,452	SH		SOLE	0	20,452	0	0
CITRIX SYS INC	COM	177376100	618	7,412	SH		SOLE	0	7,412	0	0
CNO FINANCIAL INC	COM	12621E103	19,234	938,249	SH		SOLE	0	938,249	0	0
COLGATE PALMOLIVE CO	COM	194162103	523	7,140	SH		SOLE	0	7,140	0	0
COLONY NORTHSTAR INC	CL A COM	19625W104	13,660	1,058,106	PRN		SOLE	0	1,058,106	0	0
COLUMBIA SPORTSWEAR CO	COM	198516106	4,990	84,931	SH		SOLE	0	84,931	0	0
CONAGRA BRANDS INC	COM	205887102	998	24,744	SH		SOLE	0	24,744	0	0
CONOCOPHILLIPS	COM	20825C104	777	15,580	SH		SOLE	0	15,580	0	0
CORENERGY INFRASTRUCTURE TRUST, INC	COM	21870U502	496	14,672	SH		SOLE	0	14,672	0	0
CORESITE REALTY CORP	COM	21870Q105	15,962	177,258	SH		SOLE	0	177,258	0	0
CORPORATE OFFICE PPTYS SH BEN INT	COM	22002T108	435	13,142	SH		SOLE	0	13,142	0	0
COWEN GROUP, INC.	CL A COM	223622606	4,811	321,836	PRN		SOLE	0	321,836	0	0
CROWN HOLDINGS INC	COM	228368106	385	7,273	SH		SOLE	0	7,273	0	0
CURTISS WRIGHT CORP	COM	231561101	441	4,834	SH		SOLE	0	4,834	0	0
CVS HEALTH CORP	COM	126650100	968	12,336	SH		SOLE	0	12,336	0	0
CYPRESS SEMICONDUCTOR	COM	232806109	13,039	947,615	SH		SOLE	0	947,615	0	0
DELUXE CORP	COM	248019101	13,692	189,725	SH		SOLE	0	189,725	0	0
DICKS SPORTING GOODS	COM	253393102	4,652	95,599	SH		SOLE	0	95,599	0	0
DOVER CORP	COM	260003108	690	8,582	SH		SOLE	0	8,582	0	0
DOW CHEM CO	COM	260543103	427	6,715	SH		SOLE	0	6,715	0	0
DUKE ENERGY CORP	COM	26441C204	1,152	14,051	SH		SOLE	0	14,051	0	0
EATON CORP	SHS	G29183103	587	7,920	PRN		SOLE	0	7,920	0	0
EMCOR GROUP INC	COM	29084Q100	7,453	118,388	SH		SOLE	0	118,388	0	0
EMMIS COMMUNICTNS CORP CL A	COM	291525103	184	75,078	SH		SOLE	0	75,078	0	0
ENTERCOM COMM CORP CL A	COM	293639100	7,607	531,977	SH		SOLE	0	531,977	0	0
ENTERPRISE FINANCIAL SERVICES CORP	COM	293712105	4,816	113,595	SH		SOLE	0	113,595	0	0
ENVISION HEALTHCARE HOLDINGS, INC	COM	29414D100	6,183	100,836	SH		SOLE	0	100,836	0	0
EQUITY LIFESTYLE PPTYS	COM	29472R108	949	12,315	SH		SOLE	0	12,315	0	0
EQUITY RESIDENTIAL	COM	29476L107	538	8,648	SH		SOLE	0	8,648	0	0
ESSEX PROPERTY TRUST	COM	297178105	953	4,114	SH		SOLE	0	4,114	0	0
ESTERLINE TECHNOLOGIES	COM	297425100	9,927	115,362	SH		SOLE	0	115,362	0	0
EXTRA SPACE STORAGE	COM	30225T102	506	6,799	SH		SOLE	0	6,799	0	0
EXXON MOBIL CORP	COM	30231G102	1,538	18,753	SH		SOLE	0	18,753	0	0
F M C CORP COM NEW	COM	302491303	569	8,170	SH		SOLE	0	8,170	0	0
FEDERAL REALTY INVT TR	COM	313747206	341	2,555	SH		SOLE	0	2,555	0	0
FERRO CORP	COM	315405100	8,966	590,280	SH		SOLE	0	590,280	0	0
FIRST AMERN CORP CALIF	COM	31847R102	4,346	110,637	SH		SOLE	0	110,637	0	0
FIRST INDUSTRIAL RLTY	COM	32054K103	883	33,159	SH		SOLE	0	33,159	0	0
FIRST INSTERSTATE BANCSYSTEM INC (MONTAN	COM	32055Y201	4,793	120,883	SH		SOLE	0	120,883	0	0
FIRST REP BK SAN	COM	33616C100	1,438	15,327	SH		SOLE	0	15,327	0	0
FNB CORP	COM	302520101	17,231	1,158,756	SH		SOLE	0	1,158,756	0	0
FRANKLIN FINANCIAL NETWORK INC.	COM	35352P104	3,619	93,399	SH		SOLE	0	93,399	0	0
FULLER H B CO	COM	359694106	4,993	96,845	SH		SOLE	0	96,845	0	0
GALLAGHER ARTHUR J &CO	COM	363576109	1,127	19,941	SH		SOLE	0	19,941	0	0
GENERAL CABLE DEL NEW	COM	369300108	5,016	279,458	SH		SOLE	0	279,458	0	0
GENERAL ELEC CO	COM	369604103	1,498	50,278	SH		SOLE	0	50,278	0	0
GIBRALTAR INDS INC	COM	374689107	12,293	298,367	SH		SOLE	0	298,367	0	0
GOLDMAN SACHS GROUP	COM	38141G104	618	2,692	SH		SOLE	0	2,692	0	0
GREAT PLAINS ENERGY	COM	391164100	653	22,352	SH		SOLE	0	22,352	0	0
GREEN BANCORP INC	COM	39260X100	10,290	578,072	SH		SOLE	0	578,072	0	0
GUARANTY BANKCORP (COLORADO)	COM	40075T607	5,570	228,754	SH		SOLE	0	228,754	0	0
GUGGENHEIM SPIN-OFF	COM	18383M605	1,346	29,316	SH		SOLE	0	29,316	0	0
HANESBRANDS INC	COM	410345102	903	43,479	SH		SOLE	0	43,479	0	0
HCA INC	COM	40412C101	610	6,860	SH		SOLE	0	6,860	0	0
HD SUPPLY HOLDINGS INC	COM	40416M105	1,340	32,585	SH		SOLE	0	32,585	0	0
HEARTLAND FINL USA INC	COM	42234Q102	17,061	341,568	SH		SOLE	0	341,568	0	0
HERITAGE COMMERCE CORP	COM	426927109	6,664	472,609	SH		SOLE	0	472,609	0	0
HERITAGE FINANCIAL CORP	COM	42722X106	9,304	375,904	SH		SOLE	0	375,904	0	0
HERITAGE OAKS BANCORP	COM	42724R107	13,660	1,023,199	SH		SOLE	0	1,023,199	0	0
HUDSON PACIFIC PROPERTIES, INC.	COM	444097109	11,053	319,096	SH		SOLE	0	319,096	0	0
IBERIABANK CORP	COM	450828108	16,029	202,638	SH		SOLE	0	202,638	0	0
IDACORP INC	COM	451107106	5,857	70,604	SH		SOLE	0	70,604	0	0
INTEL CORP	COM	458140100	927	25,711	SH		SOLE	0	25,711	0	0
ISHARES INTERNATIONAL DEVELOPED REAL EST	COM	464288489	668	24,325	SH		SOLE	0	24,325	0	0
ISHARES RUSSELL 2000 GROWTH	COM	464287648	202	1,250	SH		SOLE	0	1,250	0	0
ISHARES RUSSELL 2000 VALUE	COM	464287630	210	1,780	SH		SOLE	0	1,780	0	0
ISHARES S&P U.S. PREFERRED STOCK INDEX F	NOTE	464288687	4,923	127,212	SH		SOLE	0	127,212	0	0
ISHARES TR DJ US REAL EST	COM	464287739	843	10,739	SH		SOLE	0	10,739	0	0
JC PENNEY INC	COM	708160106	5,639	915,431	SH		SOLE	0	915,431	0	0
JOHNSON & JOHNSON	COM	478160104	2,428	19,498	SH		SOLE	0	19,498	0	0
JPMORGAN CHASE & CO	COM	46625H100	2,081	23,689	SH		SOLE	0	23,689	0	0
KADANT INC	COM	48282T104	9,491	159,911	SH		SOLE	0	159,911	0	0
KAISER ALUMINUM CORP	COM	483007704	6,537	81,818	SH		SOLE	0	81,818	0	0
KAPSTONE PAPER & PACKAGING CORP	COM	48562P103	7,371	319,103	SH		SOLE	0	319,103	0	0
KILROY REALTY CORP	COM	49427F108	587	8,149	SH		SOLE	0	8,149	0	0
KIMCO REALTY CORP	COM	49446R109	297	13,424	SH		SOLE	0	13,424	0	0
KINDER MORGAN INC KANS	COM	49456B101	715	32,908	SH		SOLE	0	32,908	0	0
LABORATORY AMER HLDGS COM NEW	COM	50540R409	263	1,835	SH		SOLE	0	1,835	0	0
LAMB WESTON HOLDINGS INC	COM	513272104	798	18,970	SH		SOLE	0	18,970	0	0
MACERICH CO	COM	554382101	268	4,157	SH		SOLE	0	4,157	0	0
MAGELLAN MIDSTREAM	COM	559080106	285	3,700	SH		SOLE	0	3,700	0	0
MATERION CORP	COM	576690101	8,634	257,361	SH		SOLE	0	257,361	0	0
MATTEL INC	COM	577081102	731	28,526	SH		SOLE	0	28,526	0	0
MERCK & CO INC	COM	58933Y105	786	12,375	SH		SOLE	0	12,375	0	0
MEREDITH CORP	COM	589433101	9,778	151,363	SH		SOLE	0	151,363	0	0
METLIFE INC	COM	59156R108	990	18,747	SH		SOLE	0	18,747	0	0
MICROSOFT CORP	COM	594918104	238	3,620	SH		SOLE	0	3,620	0	0
MKS INSTRUMENT INC	COM	55306N104	12,238	178,006	SH		SOLE	0	178,006	0	0
MODINE MANUFACTURING CO	COM	607828100	4,547	372,734	SH		SOLE	0	372,734	0	0
MYR GROUP INC	COM	55405W104	11,887	289,933	SH		SOLE	0	289,933	0	0
NATIONAL CINEMEDIA	COM	635309107	5,143	407,212	SH		SOLE	0	407,212	0	0
NATIONAL STORAGE AFFILIATES TRUST	COM	637870106	11,043	462,066	SH		SOLE	0	462,066	0	0
NCR CORP NEW	COM	62886E108	22,314	488,477	SH		SOLE	0	488,477	0	0
NEWELL RUBBERMAID INC	COM	651229106	625	13,259	SH		SOLE	0	13,259	0	0
NEXSTAR BROADCASTING CL A	COM	65336K103	10,377	147,920	SH		SOLE	0	147,920	0	0
NOBLE ENRGY INC	COM	655044105	738	21,496	SH		SOLE	0	21,496	0	0
NORFOLK SOUTHERN CORP	COM	655844108	444	3,967	SH		SOLE	0	3,967	0	0
NORWEGIAN CRUISE LINE HOLDINGS LTD.	SHS	G66721104	1,038	20,452	PRN		SOLE	0	20,452	0	0
NXP SEMICONDUCTORS	COM	N6596X109	377	3,645	SH		SOLE	0	3,645	0	0
OFFICE DEPOT INC	COM	676220106	11,269	2,415,646	SH		SOLE	0	2,415,646	0	0
ON ASSIGNMENT INC	COM	682159108	5,217	107,494	SH		SOLE	0	107,494	0	0
ONEMAIN HOLDINGS INC	COM	68268W103	4,576	184,127	SH		SOLE	0	184,127	0	0
ORBITAL ATK, INC	COM	68557N103	669	6,825	SH		SOLE	0	6,825	0	0
PACIFIC PREMIER BANCORP	COM	69478X105	4,574	118,647	SH		SOLE	0	118,647	0	0
PAREXEL INTL CORP	COM	699462107	4,172	66,112	SH		SOLE	0	66,112	0	0
PARK STERLING BANK	COM	70086Y105	6,191	502,914	SH		SOLE	0	502,914	0	0
PDC ENERGY	COM	69327R101	10,237	164,181	SH		SOLE	0	164,181	0	0
PEBBLEBROOK HOTEL	COM	70509V100	5,436	186,110	SH		SOLE	0	186,110	0	0
PEPSICO INC	COM	713448108	1,010	9,025	SH		SOLE	0	9,025	0	0
PFIZER INC	COM	717081103	1,047	30,602	SH		SOLE	0	30,602	0	0
PHARMERICA	COM	71714F104	6,121	261,574	SH		SOLE	0	261,574	0	0
PHOTRONICS INC	COM	719405102	4,590	428,995	SH		SOLE	0	428,995	0	0
PLEXUS CORP	COM	729132100	5,286	91,445	SH		SOLE	0	91,445	0	0
PNM RES INC	COM	69349H107	8,091	218,675	SH		SOLE	0	218,675	0	0
PORTLAND GENERAL	COM	736508847	6,752	151,998	SH		SOLE	0	151,998	0	0
PRIMERICA	COM	74164M108	7,279	88,558	SH		SOLE	0	88,558	0	0
PROCTER & GAMBLE CO	COM	742718109	1,178	13,113	SH		SOLE	0	13,113	0	0
PROGENICS PHARMA INC	COM	743187106	13,228	1,401,257	SH		SOLE	0	1,401,257	0	0
PROGRESS SOFTWARE CORP	COM	743312100	5,053	173,952	SH		SOLE	0	173,952	0	0
PROLOGIS	COM	74340W103	832	16,040	SH		SOLE	0	16,040	0	0
PUBLIC STORAGE INC	COM	74460D109	915	4,180	SH		SOLE	0	4,180	0	0
QTS REALTY TRUST INC	COM	74736A103	662	13,588	SH		SOLE	0	13,588	0	0
RADIAN GROUP INC	COM	750236101	11,447	637,336	SH		SOLE	0	637,336	0	0
RED ROBIN GOURMET BURG	COM	75689M101	5,295	90,596	SH		SOLE	0	90,596	0	0
REGENCY CTRS CORP	COM	758849103	485	7,304	SH		SOLE	0	7,304	0	0
RESOLUTE ENERGY CORP.	COM NEW	76116A306	4,773	118,154	PRN		SOLE	0	118,154	0	0
REXFORD INDUSTRIAL REALTY	COM	76169C100	10,572	469,443	SH		SOLE	0	469,443	0	0
RING ENERGY, INC.	COM	76680V108	12,282	1,135,101	SH		SOLE	0	1,135,101	0	0
SABRA HEALTH CARE REIT	COM	78573L106	5,678	203,286	SH		SOLE	0	203,286	0	0
SCHLUMBERGER LTD	COM	806857108	369	4,722	SH		SOLE	0	4,722	0	0
SCHWAB LARGE CAP ETF	COM	808524201	5,255	93,385	SH		SOLE	0	93,385	0	0
SCHWAB US BROAD MARKET ETF	COM	808524102	1,177	20,620	SH		SOLE	0	20,620	0	0
SCHWAB US REIT ETF	COM	808524847	1,286	31,523	SH		SOLE	0	31,523	0	0
SCHWAB US SMALL CAP ETF	COM	808524607	221	3,515	SH		SOLE	0	3,515	0	0
SCIENCE APPLICATIONS INTERNATIONAL	COM	808625107	12,629	169,746	SH		SOLE	0	169,746	0	0
SCRIPPS NETWORKS INTERACTIVE INC	COM	811065101	710	9,064	SH		SOLE	0	9,064	0	0
SELECTIVE INS GROUP	COM	816300107	10,042	212,988	SH		SOLE	0	212,988	0	0
SENSIENT TECH CORP	COM	81725T100	9,436	119,046	SH		SOLE	0	119,046	0	0
SERITAGE GROWTH PROPERTIES	COM	81752R100	4,546	105,361	SH		SOLE	0	105,361	0	0
SHIRE PLC	COM	82481R106	229	1,313	SH		SOLE	0	1,313	0	0
SILICON MOTION TECHNOLOGY CORP	COM	82706C108	5,645	120,752	SH		SOLE	0	120,752	0	0
SIMON PROPERTY GROUP	COM	828806109	2,236	12,998	SH		SOLE	0	12,998	0	0
SINCLAIR BROADCAST GRP CL A	COM	829226109	14,722	363,511	SH		SOLE	0	363,511	0	0
SKYWEST INC	COM	830879102	15,291	446,461	SH		SOLE	0	446,461	0	0
SKYWORKS SOLUTIONS INC	COM	83088M102	965	9,848	SH		SOLE	0	9,848	0	0
SL GREEN REALTY	COM	78440X101	1,254	11,762	SH		SOLE	0	11,762	0	0
SNYDER'S LANCE INC	COM	833551104	8,009	198,678	SH		SOLE	0	198,678	0	0
SOUTH JERSEY INDS INC	COM	838518108	5,377	150,826	SH		SOLE	0	150,826	0	0
SOUTHERN CO	COM	842587107	705	14,169	SH		SOLE	0	14,169	0	0
SPDR DOW JONES WILSHIRE INTERNATIONAL	COM	78463X863	271	7,248	SH		SOLE	0	7,248	0	0
SPDR S&P DEPOSITORY RECEIPTS	COM	78462F103	1,072	4,549	SH		SOLE	0	4,549	0	0
SPIRE, INC	COM	84857L101	7,395	109,554	SH		SOLE	0	109,554	0	0
STAG INDUSTRIAL	COM	85254J102	574	22,943	SH		SOLE	0	22,943	0	0
STANLEY BLACK & DECKER	COM	854502101	735	5,535	SH		SOLE	0	5,535	0	0
STATE BANK & TRUST	COM	856190103	11,416	437,065	SH		SOLE	0	437,065	0	0
STIFEL FINL CORP	COM	860630102	4,802	95,671	SH		SOLE	0	95,671	0	0
SUN COMMUNITIES INC	COM	866674104	10,688	133,048	SH		SOLE	0	133,048	0	0
SUPERIOR ENERGY SVCS	COM	868157108	8,102	568,148	SH		SOLE	0	568,148	0	0
SYNNEX CORP	COM	87162W100	376	3,355	SH		SOLE	0	3,355	0	0
SYNOVUS FINL CORP	COM	87161C501	13,665	333,126	SH		SOLE	0	333,126	0	0
TETRA TECH INC NEW	COM	88162G103	9,516	232,956	SH		SOLE	0	232,956	0	0
TIMKEN CO	COM	887389104	11,661	257,989	SH		SOLE	0	257,989	0	0
TIMKENSTEEL CORP COM	COM	887399103	6,669	352,690	SH		SOLE	0	352,690	0	0
TOPBUILD CORP	COM	89055F103	11,887	252,915	SH		SOLE	0	252,915	0	0
TOWER INTERNATIONAL, INC	COM	891826109	9,978	368,178	SH		SOLE	0	368,178	0	0
TREEHOUSE FOODS INC	COM	89469A104	486	5,739	SH		SOLE	0	5,739	0	0
TRICO BANCSHARES	COM	896095106	11,808	332,347	SH		SOLE	0	332,347	0	0
UNILEVER NV	COM	904784709	298	6,000	SH		SOLE	0	6,000	0	0
UNITED CMNTY BKS GA CAP STK	COM	90984P303	18,189	656,875	SH		SOLE	0	656,875	0	0
UNITED CONTINENTAL HOLDINGS, INC.	COM	910047109	495	7,011	SH		SOLE	0	7,011	0	0
USANA HEALTH SCIENCES	COM	90328M107	6,884	119,515	SH		SOLE	0	119,515	0	0
VASCO DATA SECURITY INTERNATIONAL, INC	COM	92230Y104	3,169	234,740	SH		SOLE	0	234,740	0	0
VENTAS INC	COM	92276F100	418	6,420	SH		SOLE	0	6,420	0	0
VEREIT INC	COM	92339V100	346	40,782	SH		SOLE	0	40,782	0	0
VERINT SYS INC	COM	92343X100	8,160	188,116	SH		SOLE	0	188,116	0	0
VERIZON COMMUNICATIONS	COM	92343V104	874	17,934	SH		SOLE	0	17,934	0	0
VORNADO REALTY TRUST	COM	929042109	1,336	13,314	SH		SOLE	0	13,314	0	0
WALT DISNEY CO	COM	254687106	948	8,361	SH		SOLE	0	8,361	0	0
WEB.COM GROUP INC	COM	94733A104	3,531	182,952	SH		SOLE	0	182,952	0	0
WELLS FARGO & CO	COM	949746101	510	9,159	SH		SOLE	0	9,159	0	0
WELLTOWER INC	COM	95040Q104	722	10,201	SH		SOLE	0	10,201	0	0
WESTROCK CO	COM	96145D105	410	7,885	SH		SOLE	0	7,885	0	0
WILLIAMS SONOMA INC	COM	969904101	242	4,514	SH		SOLE	0	4,514	0	0
WINTRUST FINL CORP	COM	97650W108	12,966	187,589	SH		SOLE	0	187,589	0	0