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
ABBOTT LABS	COM	002824100	349	4,360	SH		SOLE	0	4,360	0	0
ABBVIE INC	COM	00287Y109	2,867	35,580	SH		SOLE	0	35,580	0	0
ACADIA REALTY TRUST	COM SH BEN TR	004239109	13,886	509,211	PRN		SOLE	0	509,211	0	0
ALEXANDRIA REAL ESTATE	COM	015271109	3,282	23,020	SH		SOLE	0	23,020	0	0
ALEXANDRIA REAL ESTATE PFD D	PFD CONV SER D	015271505	1,706	45,026	PRN		SOLE	0	45,026	0	0
ALPHABET INC CL A	COM	02079K305	998	848	SH		SOLE	0	848	0	0
AMERICAN EAGLE OUTFITTERS INC	COM	02553E106	9,552	430,857	SH		SOLE	0	430,857	0	0
AMERICAN TOWER CORP	COM	03027X100	1,474	7,482	SH		SOLE	0	7,482	0	0
AMNEAL PHARMACEUTICALS, INC. CLASS A	COM	03168L105	5,331	376,213	SH		SOLE	0	376,213	0	0
ANI PHARMACEUTICALS, INC.	COM	00182C103	9,945	140,977	SH		SOLE	0	140,977	0	0
APPLE COMPUTER INC	COM	037833100	950	5,000	SH		SOLE	0	5,000	0	0
ASGN INCORPORATED	COM	00191U102	6,228	98,092	SH		SOLE	0	98,092	0	0
AT&T INC	COM	00206R102	773	24,645	SH		SOLE	0	24,645	0	0
ATKORE INTERNATIONAL GROUP INC.	COM	047649108	8,587	398,849	SH		SOLE	0	398,849	0	0
ATLANTIC CAPITAL BANCSHARES INC	COM	048269203	197	11,047	SH		SOLE	0	11,047	0	0
ATLAS AIR WORLDWIDE HOLDINGS, INC.	COM	049164205	11,235	222,218	SH		SOLE	0	222,218	0	0
AVALONBAY CMNTYS INC	COM	053484101	3,082	15,355	SH		SOLE	0	15,355	0	0
AVX CORPORATION	COM	002444107	10,255	591,416	SH		SOLE	0	591,416	0	0
B&G FOODS, INC	COM	05508R106	6,885	281,939	SH		SOLE	0	281,939	0	0
BANNER CORP	COM	06652V208	9,447	174,399	SH		SOLE	0	174,399	0	0
BELDEN, INC.	COM	077454106	3,957	73,688	SH		SOLE	0	73,688	0	0
BERKSHIRE HATHAWAY CLASS B	COM	084670702	235	1,170	SH		SOLE	0	1,170	0	0
BLACK HILLS CORP	COM	092113109	6,949	93,815	SH		SOLE	0	93,815	0	0
BOSTON PROPERTIES INC	COM	101121101	1,779	13,287	SH		SOLE	0	13,287	0	0
C&J ENERGY SERVICES, INC	COM	12674R100	3,396	218,832	SH		SOLE	0	218,832	0	0
CABOT MICROELECTRONICS CORPORATION	COM	12709P103	1,686	15,061	SH		SOLE	0	15,061	0	0
CACI INTERNATIONAL INC CLASS A	COM	127190304	11,625	63,865	SH		SOLE	0	63,865	0	0
CADENCE BANCORPORATION CLASS A	COM	12739A100	13,564	731,207	SH		SOLE	0	731,207	0	0
CALLON PETROLEUM CO	COM	13123X102	11,676	1,546,514	SH		SOLE	0	1,546,514	0	0
CAMDEN PROPERTY TRUST	SH BEN INT	133131102	1,303	12,840	PRN		SOLE	0	12,840	0	0
CBIZ INC	COM	124805102	16,124	796,634	SH		SOLE	0	796,634	0	0
CENTERSTATE BANKS INC	COM	15201P109	14,092	591,862	SH		SOLE	0	591,862	0	0
CHEESECAKE FACTORY INCORPORATED	COM	163072101	4,758	97,255	SH		SOLE	0	97,255	0	0
CHEMBIO DIAGNOSTICS	COM	163572209	111	20,000	SH		SOLE	0	20,000	0	0
CHEMICAL FINANCIAL CORPORATION	COM	163731102	6,841	166,211	SH		SOLE	0	166,211	0	0
CHEVRON CORP NEW	COM	166764100	870	7,062	SH		SOLE	0	7,062	0	0
CITIGROUP INC	COM	172967424	404	6,497	SH		SOLE	0	6,497	0	0
CLOROX CO DEL	COM	189054109	201	1,250	SH		SOLE	0	1,250	0	0
COLGATE PALMOLIVE CO	COM	194162103	681	9,930	SH		SOLE	0	9,930	0	0
COLUMBUS MCKINNON CORPORATION	COM	199333105	8,291	241,363	SH		SOLE	0	241,363	0	0
CONDUENT INC	COM	206787103	4,519	326,757	SH		SOLE	0	326,757	0	0
CORESITE REALTY CORP	COM	21870Q105	1,753	16,379	SH		SOLE	0	16,379	0	0
CUBESMART	COM	229663109	564	17,600	SH		SOLE	0	17,600	0	0
CYPRESS SEMICONDUCTOR	COM	232806109	13,350	894,803	SH		SOLE	0	894,803	0	0
DOVER CORP	COM	260003108	766	8,165	SH		SOLE	0	8,165	0	0
DOWDUPONT INC	COM	26078J100	342	6,415	SH		SOLE	0	6,415	0	0
DUKE ENERGY CORP	COM	26441C204	609	6,767	SH		SOLE	0	6,767	0	0
EAGLE BANCORP, INC	COM	268948106	12,975	258,460	SH		SOLE	0	258,460	0	0
EASTGROUP	COM	277276101	695	6,228	SH		SOLE	0	6,228	0	0
EATON CORP	SHS	G29183103	671	8,330	PRN		SOLE	0	8,330	0	0
EMCOR GROUP INC	COM	29084Q100	8,004	109,520	SH		SOLE	0	109,520	0	0
EMERGENT BIO SOLUTIONS INC.	COM	29089Q105	8,354	165,353	SH		SOLE	0	165,353	0	0
EMMIS COMMUNICTNS CORP CL A	COM	291525400	269	75,078	SH		SOLE	0	75,078	0	0
ENTERCOM COMM CORP CL A	COM	293639100	2,548	485,382	SH		SOLE	0	485,382	0	0
ENTERPRISE FINANCIAL SERVICES	COM	293712105	8,656	212,321	SH		SOLE	0	212,321	0	0
EQUITY LIFESTYLE PPTYS	COM	29472R108	2,556	22,362	SH		SOLE	0	22,362	0	0
ESSEX PROPERTY TRUST	COM	297178105	1,208	4,177	SH		SOLE	0	4,177	0	0
EXTRA SPACE STORAGE	COM	30225T102	1,221	11,977	SH		SOLE	0	11,977	0	0
EXXON MOBIL CORP	COM	30231G102	523	6,472	SH		SOLE	0	6,472	0	0
FEDERAL REALTY INVT TR	SH BEN INT NEW	313747206	634	4,598	PRN		SOLE	0	4,598	0	0
FERRO CORP	COM	315405100	10,203	538,975	SH		SOLE	0	538,975	0	0
FINISAR CORPORATION	COM	31787A507	5,859	252,884	SH		SOLE	0	252,884	0	0
FIRST INTERSTATE BANCSYSTEM	COM	32055Y201	9,632	241,897	SH		SOLE	0	241,897	0	0
FIRST REPUBLIC BANK	COM	33616C100	974	9,694	SH		SOLE	0	9,694	0	0
FRIST TR EXCH TRADED FD III	INSTL PFD SECS	33739P855	5,218	274,490	PRN		SOLE	0	274,490	0	0
FNB CORP	COM	302520101	13,172	1,242,664	SH		SOLE	0	1,242,664	0	0
GALLAGHER ARTHUR J &CO	COM	363576109	353	4,520	SH		SOLE	0	4,520	0	0
GIBRALTAR INDS INC	COM	374689107	5,972	147,050	SH		SOLE	0	147,050	0	0
G-III APPAREL GROUP, LTD.	COM	36237H101	12,493	312,647	SH		SOLE	0	312,647	0	0
H.B. FULLER COMPANY	COM	359694106	2,498	51,366	SH		SOLE	0	51,366	0	0
HD SUPPLY HOLDINGS INC	COM	40416M105	471	10,870	SH		SOLE	0	10,870	0	0
HERITAGE INSURANCE HOLDINGS, INC	COM	42727J102	12,780	875,327	SH		SOLE	0	875,327	0	0
HILTON GRAND VA	COM	43283X105	9,219	298,824	SH		SOLE	0	298,824	0	0
HOSTESS BRANDS, INC. CLASS A	COM	44109J106	4,631	370,466	SH		SOLE	0	370,466	0	0
HUDSON PACIFIC PROPERTIES, INC.	COM	444097109	1,778	51,667	SH		SOLE	0	51,667	0	0
IBERIABANK CORP	COM	450828108	13,654	190,411	SH		SOLE	0	190,411	0	0
IDACORP INC	COM	451107106	10,490	105,387	SH		SOLE	0	105,387	0	0
INDEPENDENCE REALTY TRUST, INC.	COM	45378A106	14,477	1,341,740	SH		SOLE	0	1,341,740	0	0
INDEPENDENT BANK GROUP, INC.	COM	45384B106	3,676	71,662	SH		SOLE	0	71,662	0	0
INTEL CORP	COM	458140100	835	15,557	SH		SOLE	0	15,557	0	0
INVESCO EXCHNG TRADED FD TR	PFD ETF	46138E511	245	16,930	PRN		SOLE	0	16,930	0	0
INVESCO EXCHNG TRADED FD TR	S&P500 EQL TEC	46137V282	763	4,484	PRN		SOLE	0	4,484	0	0
INVESCO EXCHNG TRADED FD TR	S&P SPIN OFF	46137V159	1,592	31,628	PRN		SOLE	0	31,628	0	0
INVITATION HOMES, INC.	COM	46187W107	792	32,554	SH		SOLE	0	32,554	0	0
ISHARES TR	INTL DEV RE ETF	464288489	670	22,025	PRN		SOLE	0	22,025	0	0
ISHARES TR	MSCI EAFE ETF	464287465	1,123	17,310	PRN		SOLE	0	17,310	0	0
ISHARES TR	RUS 2000 VAL ETF	464287648	472	2,400	PRN		SOLE	0	2,400	0	0
ISHARES TR	RUS 2000 GRW ETF	464287630	307	2,560	PRN		SOLE	0	2,560	0	0
ISHARES TR	RUS MID CAP ETF	464287499	358	6,640	PRN		SOLE	0	6,640	0	0
ISHARES TR	PFD AND INCM SEC	464288687	740	20,253	PRN		SOLE	0	20,253	0	0
ISHARES TR	U.S. REAL ES ETF	464287739	917	10,540	PRN		SOLE	0	10,540	0	0
JAGGED PEAK ENERGY, INC.	COM	47009K107	8,853	845,528	SH		SOLE	0	845,528	0	0
JERNIGAN CAPITAL, INC.	COM	476405105	14,415	685,126	SH		SOLE	0	685,126	0	0
JOHNSON & JOHNSON	COM	478160104	1,750	12,517	SH		SOLE	0	12,517	0	0
JPMORGAN CHASE & CO	COM	46625H100	972	9,597	SH		SOLE	0	9,597	0	0
KADANT INC	COM	48282T104	12,510	142,226	SH		SOLE	0	142,226	0	0
KAISER ALUMINUM CORP	COM	483007704	7,818	74,649	SH		SOLE	0	74,649	0	0
KILROY REALTY CORP	COM	49427F108	1,004	13,212	SH		SOLE	0	13,212	0	0
KIMCO REALTY CORP	COM	49446R109	685	37,020	SH		SOLE	0	37,020	0	0
KOPPERS HOLDINGS INC.	COM	50060P106	5,489	211,275	SH		SOLE	0	211,275	0	0
LABORATORY CORP OF AMERICA	COM	50540R409	281	1,835	SH		SOLE	0	1,835	0	0
LAMB WESTON HOLDINGS	COM	513272104	432	5,758	SH		SOLE	0	5,758	0	0
LEGACYTEXAS FINANCIAL GROUP, INC.	COM	52471Y106	11,039	295,233	SH		SOLE	0	295,233	0	0
LOWES COMPANIES INC	COM	548661107	400	3,650	SH		SOLE	0	3,650	0	0
MACERICH CO	COM	554382101	316	7,286	SH		SOLE	0	7,286	0	0
MATERION CORP	COM	576690101	13,407	234,965	SH		SOLE	0	234,965	0	0
MAXIMUS, INC.	COM	577933104	5,107	71,946	SH		SOLE	0	71,946	0	0
MCDERMOTT INTERNATIONAL, INC.	COM	580037703	3,854	517,968	SH		SOLE	0	517,968	0	0
META FINANCIAL GROUP, INC.	COM	59100U108	7,505	381,372	SH		SOLE	0	381,372	0	0
MICROSOFT CORP	COM	594918104	568	4,820	SH		SOLE	0	4,820	0	0
MKS INSTRUMENT INC	COM	55306N104	7,652	82,234	SH		SOLE	0	82,234	0	0
MURPHY OIL CORPORATION	COM	626717102	7,114	242,788	SH		SOLE	0	242,788	0	0
MYR GROUP INC	COM	55405W104	6,285	181,500	SH		SOLE	0	181,500	0	0
NATIONAL STORAGE AFFILIATES TRUST	COM SHS BEN IN	637870106	12,261	430,061	PRN		SOLE	0	430,061	0	0
NEW JERSEY RESOURCES CORPORATION	COM	646025106	6,132	123,157	SH		SOLE	0	123,157	0	0
NEXSTAR BROADCASTING	COM	65336K103	22,038	203,362	SH		SOLE	0	203,362	0	0
NORTHSTAR RLTY EUROPE CORP	COM	66706L101	6,447	371,348	SH		SOLE	0	371,348	0	0
NUVASIVE, INC.	COM	670704105	5,455	96,049	SH		SOLE	0	96,049	0	0
ONE MAIN HOLDINGS	COM	68268W103	11,676	367,733	SH		SOLE	0	367,733	0	0
PACIFIC PREMIER BANCORP	COM	69478X105	8,088	304,875	SH		SOLE	0	304,875	0	0
PARK HOTELS & RESORTS INC	COM	700517105	978	31,476	SH		SOLE	0	31,476	0	0
PATTERSON COMPANIES, INC.	COM	703395103	5,215	238,657	SH		SOLE	0	238,657	0	0
PDC ENERGY	COM	69327R101	7,609	187,043	SH		SOLE	0	187,043	0	0
PEBBLEBROOK HOTEL	COM	70509V100	12,030	387,325	SH		SOLE	0	387,325	0	0
PENSKE AUTOMOTIVE GROUP, INC.	COM	70959W103	8,752	196,005	SH		SOLE	0	196,005	0	0
PEPSICO INC	COM	713448108	1,056	8,616	SH		SOLE	0	8,616	0	0
PFIZER INC	COM	717081103	239	5,636	SH		SOLE	0	5,636	0	0
PHOTRONICS INC	COM	719405102	3,698	391,319	SH		SOLE	0	391,319	0	0
PINNACLE FINANCIAL PARTNERS, INC.	COM	72346Q104	9,397	171,784	SH		SOLE	0	171,784	0	0
PLEXUS CORP	COM	729132100	5,090	83,505	SH		SOLE	0	83,505	0	0
PORTLAND GENERAL	COM	736508847	7,190	138,696	SH		SOLE	0	138,696	0	0
PREFERRED BANK	COM	740367404	7,260	161,430	SH		SOLE	0	161,430	0	0
PRIMERICA	COM	74164M108	9,869	80,797	SH		SOLE	0	80,797	0	0
PROCTER & GAMBLE CO	COM	742718109	739	7,106	SH		SOLE	0	7,106	0	0
PROGENICS PHARMA INC	COM	743187106	5,319	1,146,292	SH		SOLE	0	1,146,292	0	0
PROGRESS SOFTWARE CORP	COM	743312100	7,060	159,109	SH		SOLE	0	159,109	0	0
PROLOGIS	COM	74340W103	2,561	35,596	SH		SOLE	0	35,596	0	0
PS BUSINESS PARKS, INC.	COM	69360J107	5,181	33,036	SH		SOLE	0	33,036	0	0
PUBLIC STORAGE INC	COM	74460D109	763	3,505	SH		SOLE	0	3,505	0	0
QTS REALTY TRUST INC	COM CL A	74736A103	12,322	273,893	PRN		SOLE	0	273,893	0	0
QUANTA SERVICES INC.	COM	74762E102	10,717	283,978	SH		SOLE	0	283,978	0	0
REGENCY CTRS CORP	COM	758849103	1,106	16,385	SH		SOLE	0	16,385	0	0
RETAIL OPPORTUNITY INVESTMENTS	COM	76131N101	374	21,573	SH		SOLE	0	21,573	0	0
REXFORD INDUSTRIAL REALTY	COM	76169C100	17,751	495,690	SH		SOLE	0	495,690	0	0
RING ENERGY, INC.	COM	76680V108	8,097	1,379,374	SH		SOLE	0	1,379,374	0	0
RUTH`S HOSPITALITY GROUP, INC.	COM	783332109	9,250	361,461	SH		SOLE	0	361,461	0	0
SABRA HEALTH CARE REIT	COM	78573L106	6,757	347,065	SH		SOLE	0	347,065	0	0
SCHWAB STRATEGIC TR	INTL EQTY ETF	808524805	763	24,374	PRN		SOLE	0	24,374	0	0
SCHWAB STRATEGIC TR	US LRG CAP ETF	808524201	7,649	113,128	PRN		SOLE	0	113,128	0	0
SCHWAB STRATEGIC TR	US MID-CAP ETF	808524508	797	14,395	PRN		SOLE	0	14,395	0	0
SCHWAB STRATEGIC TR	US BRD MKT ETF	808524102	1,284	18,874	PRN		SOLE	0	18,874	0	0
SCHWAB STRATEGIC TR	US DIVIDEND EQ	808524797	204	3,900	PRN		SOLE	0	3,900	0	0
SCHWAB STRATEGIC TR	US REIT ETF	808524847	2,299	51,751	PRN		SOLE	0	51,751	0	0
SCHWAB STRATEGIC TR	US SML CAP ETF	808524607	655	9,366	PRN		SOLE	0	9,366	0	0
SERITAGE GROWTH PROPERTIES	CL A	81752R100	669	15,045	PRN		SOLE	0	15,045	0	0
SIMMONS 1ST NATL CORP	CL A $1 PAR	828730200	4,187	171,025	PRN		SOLE	0	171,025	0	0
SIMON PROPERTY GROUP	COM	828806109	2,229	12,234	SH		SOLE	0	12,234	0	0
SKYWEST INC	COM	830879102	13,512	248,888	SH		SOLE	0	248,888	0	0
SL GREEN REALTY	COM	78440X101	846	9,411	SH		SOLE	0	9,411	0	0
SOUTH JERSEY INDS INC	COM	838518108	7,634	238,048	SH		SOLE	0	238,048	0	0
SOUTHERN CO	COM	842587107	220	4,250	SH		SOLE	0	4,250	0	0
SOUTHWEST AIRLS CO	COM	844741108	601	11,580	SH		SOLE	0	11,580	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	923	3,269	PRN		SOLE	0	3,269	0	0
SPIRE, INC	COM	84857L101	8,213	99,810	SH		SOLE	0	99,810	0	0
STIFEL FINANCIAL CORP	COM	860630102	8,114	153,790	SH		SOLE	0	153,790	0	0
STORE CAPITAL CORPORATION	COM	862121100	1,563	46,648	SH		SOLE	0	46,648	0	0
SUN CMNTYS INC	COM	866674104	1,945	16,411	SH		SOLE	0	16,411	0	0
SUNSTONE HOTEL INVESTORS	COM	867892101	415	28,839	SH		SOLE	0	28,839	0	0
SYNEOS HEALTH, INC	CL A	87166B102	10,923	211,026	PRN		SOLE	0	211,026	0	0
SYNNEX CORP	COM	87162W100	9,659	101,253	SH		SOLE	0	101,253	0	0
TECH DATA CORPORATION	COM	878237106	5,955	58,153	SH		SOLE	0	58,153	0	0
TERRAFORM PWR INC	COM CL A	88104R209	6,186	450,232	PRN		SOLE	0	450,232	0	0
TIMKEN CO	COM	887389104	4,282	98,156	SH		SOLE	0	98,156	0	0
TIMKEN STEEL	COM	887399103	3,486	321,028	SH		SOLE	0	321,028	0	0
TOPBUILD CORP	COM	89055F103	14,965	230,869	SH		SOLE	0	230,869	0	0
TOWER INTERNATIONAL, INC	COM	891826109	4,314	205,126	SH		SOLE	0	205,126	0	0
TRIUMPH BANCORP, INC.	COM	89679E300	8,788	298,998	SH		SOLE	0	298,998	0	0
UMPQUA HOLDINGS CORP	COM	904214103	7,773	471,115	SH		SOLE	0	471,115	0	0
UNILEVER NV	N Y SHS NEW	904784709	350	6,000	PRN		SOLE	0	6,000	0	0
UNION BANKSHARES CORPORATION	COM	90539J109	14,071	435,238	SH		SOLE	0	435,238	0	0
UNISYS CORPORATION	COM	909214306	8,189	701,712	SH		SOLE	0	701,712	0	0
UDR INC	COM	902653104	450	9,900	SH		SOLE	0	9,900	0	0
VENTAS INC	COM	92276F100	682	10,691	SH		SOLE	0	10,691	0	0
VERINT SYS INC	COM	92343X100	10,271	171,586	SH		SOLE	0	171,586	0	0
VERIZON COMMUNICATIONS	COM	92343V104	590	9,978	SH		SOLE	0	9,978	0	0
VORNADO REALTY TRUST	SH BEN INT	929042109	770	11,422	PRN		SOLE	0	11,422	0	0
WALT DISNEY CO	COM	254687106	721	6,493	SH		SOLE	0	6,493	0	0
WELLTOWER INC	COM	95040Q104	1,544	19,903	SH		SOLE	0	19,903	0	0
WESCO AIRCRAFT HOLDINGS, INC.	COM	950814103	4,977	566,205	SH		SOLE	0	566,205	0	0
WILLIAMS SONOMA INC	COM	969904101	5,126	91,104	SH		SOLE	0	91,104	0	0
WINTRUST FINL CORP	COM	97650W108	7,210	107,079	SH		SOLE	0	107,079	0	0
WOLVERINE WORLD WIDE, INC.	COM	978097103	10,590	296,379	SH		SOLE	0	296,379	0	0