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	2,694	35,580	SH		SOLE	0	35,580	0	0
ACADIA HEALTHCARE COMPANY INC.	COM	00404A109	4,028	129,622	SH		SOLE	0	129,622	0	0
ACADIA REALTY TRUST	COM	004239109	13,146	459,991	SH		SOLE	0	459,991	0	0
ADT INC.	COM	00090Q103	4,606	734,693	SH		SOLE	0	734,693	0	0
AIR TRANSPORT SERVICES GROUP INC.	COM	00922R105	4,166	198,215	SH		SOLE	0	198,215	0	0
ALEXANDRIA REAL ESTATE	COM	015271109	3,192	20,724	SH		SOLE	0	20,724	0	0
ALPHABET INC CL A	COM	02079K305	1,037	850	SH		SOLE	0	850	0	0
AMERICAN EAGLE OUTFITTERS INC	COM	02553E106	7,787	480,122	SH		SOLE	0	480,122	0	0
AMERICAN TOWER CORP	COM	03027X100	2,118	9,580	SH		SOLE	0	9,580	0	0
AMERIS BANCORP	COM	03076K108	8,131	202,063	SH		SOLE	0	202,063	0	0
ANI PHARMACEUTICALS INC.	COM	00182C103	9,270	127,200	SH		SOLE	0	127,200	0	0
APPLE COMPUTER INC	COM	037833100	1,119	5,000	SH		SOLE	0	5,000	0	0
AT&T INC	COM	00206R102	930	24,582	SH		SOLE	0	24,582	0	0
ATKORE INTERNATIONAL GROUP INC.	COM	047649108	10,897	359,046	SH		SOLE	0	359,046	0	0
ATLANTIC CAPITAL BANCSHARES INC	COM	048269203	191	11,047	SH		SOLE	0	11,047	0	0
ATLANTIC UNION BANKSHARES	COM	04911A107	14,645	393,230	SH		SOLE	0	393,230	0	0
AVALONBAY COMMUNITIES	COM	053484101	3,011	13,984	SH		SOLE	0	13,984	0	0
AVX CORPORATION	COM	002444107	4,673	307,460	SH		SOLE	0	307,460	0	0
B&G FOODS INC	COM	05508R106	7,782	411,557	SH		SOLE	0	411,557	0	0
BANNER CORP	COM	06652V208	4,499	80,104	SH		SOLE	0	80,104	0	0
BELDEN INC.	COM	077454106	4,514	84,640	SH		SOLE	0	84,640	0	0
BERKSHIRE HATHAWAY CLASS B	COM	084670702	264	1,270	SH		SOLE	0	1,270	0	0
BLACK HILLS CORP	COM	092113109	6,490	84,583	SH		SOLE	0	84,583	0	0
BOSTON PROPERTIES INC	COM	101121101	1,617	12,475	SH		SOLE	0	12,475	0	0
CABOT MICROELECTRONICS CORPORATION	COM	12709P103	5,071	35,912	SH		SOLE	0	35,912	0	0
CACI INTERNATIONAL INC CLASS A	COM	127190304	9,007	38,948	SH		SOLE	0	38,948	0	0
CADENCE BANCORPORATION CLASS A	COM	12739A100	11,559	659,031	SH		SOLE	0	659,031	0	0
CALLON PETROLEUM CO	COM	13123X102	6,053	1,394,735	SH		SOLE	0	1,394,735	0	0
CAMDEN PROPERTY TRUST	COM	133131102	1,248	11,244	SH		SOLE	0	11,244	0	0
CBIZ INC	COM	124805102	8,610	366,408	SH		SOLE	0	366,408	0	0
CENTERSTATE BANKS INC	COM	15201P109	12,784	533,033	SH		SOLE	0	533,033	0	0
CHEESECAKE FACTORY INCORPORATED	COM	163072101	3,653	87,664	SH		SOLE	0	87,664	0	0
CHEMBIO DIAGNOSTICS	COM	163572209	122	20,000	SH		SOLE	0	20,000	0	0
CHEVRON CORP NEW	COM	166764100	837	7,062	SH		SOLE	0	7,062	0	0
CITIGROUP INC	COM	172967424	450	6,517	SH		SOLE	0	6,517	0	0
COLGATE PALMOLIVE CO	COM	194162103	729	9,930	SH		SOLE	0	9,930	0	0
COLUMBUS MCKINNON CORPORATION	COM	199333105	7,901	216,890	SH		SOLE	0	216,890	0	0
CORESITE REALTY CORP	COM	21870Q105	1,711	14,050	SH		SOLE	0	14,050	0	0
CUBESMART	COM	229663109	512	14,683	SH		SOLE	0	14,683	0	0
CUBIC CORPORATION	COM	229669106	4,655	66,105	SH		SOLE	0	66,105	0	0
DESIGNER BRANDS INC	COM	250565108	4,310	251,773	SH		SOLE	0	251,773	0	0
DOVER CORP	COM	260003108	798	8,025	SH		SOLE	0	8,025	0	0
DUKE ENERGY CORP	COM	26441C204	634	6,616	SH		SOLE	0	6,616	0	0
EASTGROUP	COM	277276101	627	5,016	SH		SOLE	0	5,016	0	0
EATON CORP PLC	SHS	G29183103	667	8,030	PRN		SOLE	0	8,030	0	0
EMCOR GROUP INC	COM	29084Q100	8,491	98,605	SH		SOLE	0	98,605	0	0
EMERGENT BIO SOLUTIONS INC.	COM	29089Q105	7,800	149,211	SH		SOLE	0	149,211	0	0
EMMIS COMMUNICTNS CORP CL A	COM	291525400	371	74,232	SH		SOLE	0	74,232	0	0
ENTERPRISE FINANCIAL SERVICES	COM	293712105	7,794	191,268	SH		SOLE	0	191,268	0	0
EQUITY LIFESTYLE PPTYS	COM	29472R108	2,791	20,895	SH		SOLE	0	20,895	0	0
ESSENTIAL PROPERTIES REALTY TRUST INC.	COM	29670E107	9,656	421,514	SH		SOLE	0	421,514	0	0
ESSEX PROPERTY TRUST	COM	297178105	1,321	4,047	SH		SOLE	0	4,047	0	0
EXTRA SPACE STORAGE	COM	30225T102	1,259	10,781	SH		SOLE	0	10,781	0	0
EXXON MOBIL CORP	COM	30231G102	456	6,462	SH		SOLE	0	6,462	0	0
FB FINANCIAL CORPORATION	COM	30257X104	3,567	94,994	SH		SOLE	0	94,994	0	0
FEDERAL REALTY INVT TR	COM	313747206	557	4,098	SH		SOLE	0	4,098	0	0
FERRO CORP	COM	315405100	3,109	262,164	SH		SOLE	0	262,164	0	0
FIRST BANCORP	COM	318672706	3,946	395,457	SH		SOLE	0	395,457	0	0
FIRST INTERSTATE BANCSYSTEM	COM	32055Y201	8,769	217,941	SH		SOLE	0	217,941	0	0
FIRST MERCHANTS CORPORATION	COM	320817109	7,067	187,784	SH		SOLE	0	187,784	0	0
FIRST REPUBLIC BANK	COM	33616C100	937	9,694	SH		SOLE	0	9,694	0	0
FIRST TR EXCH TRADED FD III	INSTL PFD SECS	33739P855	5,959	303,760	PRN		SOLE	0	303,760	0	0
FNB CORP	COM	302520101	12,930	1,121,432	SH		SOLE	0	1,121,432	0	0
GALLAGHER ARTHUR J &CO	COM	363576109	404	4,520	SH		SOLE	0	4,520	0	0
GIBRALTAR INDS INC	COM	374689107	6,100	132,803	SH		SOLE	0	132,803	0	0
G-III APPAREL GROUP LTD.	COM	36237H101	3,996	155,090	SH		SOLE	0	155,090	0	0
H.B. FULLER COMPANY	COM	359694106	2,157	46,338	SH		SOLE	0	46,338	0	0
HD SUPPLY HOLDINGS INC	COM	40416M105	423	10,809	SH		SOLE	0	10,809	0	0
HERITAGE INSURANCE HOLDINGS INC	COM	42727J102	11,779	787,900	SH		SOLE	0	787,900	0	0
HILTON GRAND VA	COM	43283X105	8,624	269,502	SH		SOLE	0	269,502	0	0
HOSTESS BRANDS INC. CLASS A	COM	44109J106	8,699	622,072	SH		SOLE	0	622,072	0	0
HUB GROUP INC. CLASS A	COM	443320106	4,589	98,694	SH		SOLE	0	98,694	0	0
HUDSON PACIFIC PROPERTIES INC.	COM	444097109	1,518	45,397	SH		SOLE	0	45,397	0	0
IDACORP INC	COM	451107106	10,700	94,974	SH		SOLE	0	94,974	0	0
II-VI INCORPORATED	COM	902104108	1,721	48,903	SH		SOLE	0	48,903	0	0
INDEPENDENCE REALTY TRUST INC.	COM	45378A106	17,419	1,217,267	SH		SOLE	0	1,217,267	0	0
INDEPENDENT BANK GROUP INC.	COM	45384B106	3,410	64,821	SH		SOLE	0	64,821	0	0
INTEL CORP	COM	458140100	445	8,643	SH		SOLE	0	8,643	0	0
INVESCO EXCHANGE TRADED FD T	S&P500 EQL TEC	46137V282	739	4,133	PRN		SOLE	0	4,133	0	0
INVESCO EXCHANGE TRADED FD T	S&P SPIN OFF	46137V159	1,422	30,628	PRN		SOLE	0	30,628	0	0
INVESCO EXCHNG TRADED FD TR	PFD ETF	46138E511	307	20,480	PRN		SOLE	0	20,480	0	0
INVESCO QQQ TR	UNIT SER 1	46090E103	575	3,050	PRN		SOLE	0	3,050	0	0
INVITATION HOMES INC.	COM	46187W107	932	31,501	SH		SOLE	0	31,501	0	0
ISHARES MSCI EAFE INDEX FUND	MSCI EAFE ETF	464287465	1,139	17,475	PRN		SOLE	0	17,475	0	0
ISHARES TR	RUS 2000 VAL ETF	464287630	305	2,560	PRN		SOLE	0	2,560	0	0
ISHARES TR	RUS MID CAP ETF	464287499	371	6,640	PRN		SOLE	0	6,640	0	0
ISHARES TR	RUS 2000 GRW ETF	464287648	431	2,240	PRN		SOLE	0	2,240	0	0
ISHARES TR	INTL DEV RE ETF	464288489	621	20,955	PRN		SOLE	0	20,955	0	0
ISHARES TR	PFD AND INCM SEC	464288687	760	20,253	PRN		SOLE	0	20,253	0	0
ISHARES TR	U.S. REAL ES ETF	464287739	960	10,265	PRN		SOLE	0	10,265	0	0
JAGGED PEAK ENERGY INC.	COM	47009K107	5,537	762,797	SH		SOLE	0	762,797	0	0
JERNIGAN CAPITAL INC.	COM	476405105	13,162	683,783	SH		SOLE	0	683,783	0	0
JOHNSON & JOHNSON	COM	478160104	1,619	12,517	SH		SOLE	0	12,517	0	0
JPMORGAN CHASE & CO	COM	46625H100	1,129	9,597	SH		SOLE	0	9,597	0	0
KADANT INC	COM	48282T104	11,244	128,081	SH		SOLE	0	128,081	0	0
KAISER ALUMINUM CORP	COM	483007704	6,651	67,207	SH		SOLE	0	67,207	0	0
KEMPER CORPORATION	COM	488401100	9,206	118,111	SH		SOLE	0	118,111	0	0
KILROY REALTY CORP	COM	49427F108	932	11,972	SH		SOLE	0	11,972	0	0
KIMCO REALTY CORP	COM	49446R109	664	31,846	SH		SOLE	0	31,846	0	0
KOPPERS HOLDINGS INC.	COM	50060P106	6,519	223,183	SH		SOLE	0	223,183	0	0
LABORATORY CORP OF AMERICA	COM	50540R409	308	1,835	SH		SOLE	0	1,835	0	0
LAMB WESTON HOLDINGS	COM	513272104	415	5,718	SH		SOLE	0	5,718	0	0
LEGGETT & PLATT INCORPORATED	COM	524660107	4,581	111,910	SH		SOLE	0	111,910	0	0
LOWES COMPANIES INC	COM	548661107	401	3,650	SH		SOLE	0	3,650	0	0
MATERION CORP	COM	576690101	12,981	211,555	SH		SOLE	0	211,555	0	0
MAXIMUS INC.	COM	577933104	5,008	64,832	SH		SOLE	0	64,832	0	0
META FINANCIAL GROUP INC.	COM	59100U108	13,959	428,060	SH		SOLE	0	428,060	0	0
METHODE ELECTRONICS INC.	COM	591520200	4,017	119,413	SH		SOLE	0	119,413	0	0
MICROSOFT CORP	COM	594918104	697	5,020	SH		SOLE	0	5,020	0	0
MKS INSTRUMENT INC	COM	55306N104	6,841	74,143	SH		SOLE	0	74,143	0	0
MURPHY OIL CORPORATION	COM	626717102	6,597	298,407	SH		SOLE	0	298,407	0	0
MYR GROUP INC	COM	55405W104	6,365	203,451	SH		SOLE	0	203,451	0	0
NATIONAL STORAGE AFFILIATES TRUST	COM	637870106	12,425	372,361	SH		SOLE	0	372,361	0	0
NEW JERSEY RESOURCES CORPORATION	COM	646025106	5,016	110,938	SH		SOLE	0	110,938	0	0
NEXSTAR BROADCASTING	COM	65336K103	18,750	183,271	SH		SOLE	0	183,271	0	0
NUANCE COMMUNICATIONS INC	COM	67020Y100	4,333	265,666	SH		SOLE	0	265,666	0	0
NUVASIVE INC.	COM	670704105	8,037	126,816	SH		SOLE	0	126,816	0	0
ONE MAIN HOLDINGS	COM	68268W103	18,858	514,148	SH		SOLE	0	514,148	0	0
PACIFIC PREMIER BANCORP	COM	69478X105	8,578	275,026	SH		SOLE	0	275,026	0	0
PARK HOTELS & RESORTS INC	COM	700517105	725	29,046	SH		SOLE	0	29,046	0	0
PATTERSON COMPANIES INC.	COM	703395103	3,831	215,035	SH		SOLE	0	215,035	0	0
PDC ENERGY	COM	69327R101	4,733	170,583	SH		SOLE	0	170,583	0	0
PEBBLEBROOK HOTEL	COM	70509V100	9,711	349,072	SH		SOLE	0	349,072	0	0
PENN NATIONAL GAMING INC.	COM	707569109	4,087	219,463	SH		SOLE	0	219,463	0	0
PEPSICO INC	COM	713448108	1,181	8,616	SH		SOLE	0	8,616	0	0
PFIZER INC	COM	717081103	202	5,636	SH		SOLE	0	5,636	0	0
PHOTRONICS INC	COM	719405102	4,720	433,903	SH		SOLE	0	433,903	0	0
PINNACLE FINANCIAL PARTNERS INC.	COM	72346Q104	8,794	154,964	SH		SOLE	0	154,964	0	0
PLEXUS CORP	COM	729132100	4,697	75,148	SH		SOLE	0	75,148	0	0
PORTLAND GENERAL	COM	736508847	7,045	124,989	SH		SOLE	0	124,989	0	0
PREFERRED BANK	COM	740367404	9,385	179,188	SH		SOLE	0	179,188	0	0
PRIMERICA	COM	74164M108	9,258	72,771	SH		SOLE	0	72,771	0	0
PROCTER & GAMBLE CO	COM	742718109	883	7,106	SH		SOLE	0	7,106	0	0
PROGENICS PHARMA INC	COM	743187106	5,169	1,022,708	SH		SOLE	0	1,022,708	0	0
PROGRESS SOFTWARE CORP	COM	743312100	5,449	143,188	SH		SOLE	0	143,188	0	0
PROLOGIS	COM	74340W103	2,806	32,928	SH		SOLE	0	32,928	0	0
PS BUSINESS PARKS INC.	COM	69360J107	10,018	55,060	SH		SOLE	0	55,060	0	0
PUBLIC STORAGE INC	COM	74460D109	837	3,415	SH		SOLE	0	3,415	0	0
QTS REALTY TRUST INC	COM	74736A103	12,752	248,054	SH		SOLE	0	248,054	0	0
QUANTA SERVICES INC.	COM	74762E102	9,766	258,379	SH		SOLE	0	258,379	0	0
REGENCY CTRS CORP	COM	758849103	1,041	14,994	SH		SOLE	0	14,994	0	0
RETAIL OPPORTUNITY INVESTMENTS	COM	76131N101	335	18,430	SH		SOLE	0	18,430	0	0
REXFORD INDUSTRIAL REALTY	COM	76169C100	19,696	447,455	SH		SOLE	0	447,455	0	0
RUTH`S HOSPITALITY GROUP INC.	COM	783332109	8,193	401,341	SH		SOLE	0	401,341	0	0
SABRA HEALTH CARE REIT	COM	78573L106	11,688	509,085	SH		SOLE	0	509,085	0	0
SCHWAB INTERNATIONAL EQUITY	INTL EQTY ETF	808524805	803	25,234	PRN		SOLE	0	25,234	0	0
SCHWAB STRATEGIC TR	US DIVIDEND EQ	808524797	232	4,240	PRN		SOLE	0	4,240	0	0
SCHWAB STRATEGIC TR	1000 INDEX ETF	808524722	380	13,038	PRN		SOLE	0	13,038	0	0
SCHWAB STRATEGIC TR	US SMALL CAP ETF	808524607	662	9,496	PRN		SOLE	0	9,496	0	0
SCHWAB STRATEGIC TR	US MID-CAP ETF	808524508	800	14,150	PRN		SOLE	0	14,150	0	0
SCHWAB STRATEGIC TR	US BRD MKT ETF	808524102	1,356	19,094	PRN		SOLE	0	19,094	0	0
SCHWAB STRATEGIC TR	US REIT ETF	808524847	2,412	51,141	PRN		SOLE	0	51,141	0	0
SCHWAB STRATEGIC TR	US LRG CAP ETF	808524201	7,571	106,748	PRN		SOLE	0	106,748	0	0
SELECTIVE INS GROUP	COM	816300107	7,804	103,792	SH		SOLE	0	103,792	0	0
SERITAGE GROWTH PROPERTIES	COM	81752R100	598	14,088	SH		SOLE	0	14,088	0	0
SIMON PROPERTY GROUP	COM	828806109	1,800	11,570	SH		SOLE	0	11,570	0	0
SIX FLAGS ENTERTAINMENT CORPORATION	COM	83001A102	8,190	161,256	SH		SOLE	0	161,256	0	0
SKYWEST INC	COM	830879102	12,866	224,151	SH		SOLE	0	224,151	0	0
SL GREEN REALTY	COM	78440X101	686	8,403	SH		SOLE	0	8,403	0	0
SOUTH JERSEY INDS INC	COM	838518108	7,057	214,443	SH		SOLE	0	214,443	0	0
SOUTHERN CO	COM	842587107	204	3,310	SH		SOLE	0	3,310	0	0
SOUTHWEST AIRLS CO	COM	844741108	392	7,270	SH		SOLE	0	7,270	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	1,571	5,294	PRN		SOLE	0	5,294	0	0
SPIRE INC	COM	84857L101	7,834	89,806	SH		SOLE	0	89,806	0	0
STIFEL FINANCIAL CORP	COM	860630102	7,950	138,564	SH		SOLE	0	138,564	0	0
STORE CAPITAL CORPORATION	COM	862121100	1,518	40,595	SH		SOLE	0	40,595	0	0
SUN COMMUNITIES INC	COM	866674104	2,200	14,822	SH		SOLE	0	14,822	0	0
SUNSTONE HOTEL INVESTORS	COM	867892101	317	23,130	SH		SOLE	0	23,130	0	0
SYNEOS HEALTH INC. CLASS A	COM	87166B102	10,112	190,051	SH		SOLE	0	190,051	0	0
SYNNEX CORP	COM	87162W100	10,286	91,111	SH		SOLE	0	91,111	0	0
TCF FINANCIAL CORP NEW NPV	COM	872307103	5,710	150,005	SH		SOLE	0	150,005	0	0
TECH DATA CORPORATION	COM	878237106	5,461	52,392	SH		SOLE	0	52,392	0	0
TEGNA INC.	COM	87901J105	4,265	274,682	SH		SOLE	0	274,682	0	0
TERRAFORM POWER INC CLASS A	COM	88104R209	7,391	405,589	SH		SOLE	0	405,589	0	0
TIMKEN CO	COM	887389104	3,846	88,414	SH		SOLE	0	88,414	0	0
TIVITY HEALTH INC.	COM	88870R102	3,703	222,719	SH		SOLE	0	222,719	0	0
TOPBUILD CORP	COM	89055F103	20,053	207,954	SH		SOLE	0	207,954	0	0
TRIUMPH BANCORP INC.	COM	89679E300	8,562	268,510	SH		SOLE	0	268,510	0	0
UMPQUA HOLDINGS CORP	COM	904214103	6,986	424,431	SH		SOLE	0	424,431	0	0
UNILEVER NV	N Y SHS NEW	904784709	360	6,000	PRN		SOLE	0	6,000	0	0
UNITED DOMINION	COM	902653104	383	7,920	SH		SOLE	0	7,920	0	0
VENTAS INC	COM	92276F100	691	9,471	SH		SOLE	0	9,471	0	0
VERINT SYS INC	COM	92343X100	6,608	154,468	SH		SOLE	0	154,468	0	0
VERIZON COMMUNICATIONS	COM	92343V104	602	9,978	SH		SOLE	0	9,978	0	0
VISA INC	COM	92826C839	201	1,172	SH		SOLE	0	1,172	0	0
VORNADO REALTY TRUST	COM	929042109	625	9,822	SH		SOLE	0	9,822	0	0
WALT DISNEY CO	COM	254687106	863	6,627	SH		SOLE	0	6,627	0	0
WELLTOWER INC	COM	95040Q104	1,599	17,649	SH		SOLE	0	17,649	0	0
WESBANCO INC.	COM	950810101	6,836	182,948	SH		SOLE	0	182,948	0	0
WILLIAMS SONOMA INC	COM	969904101	7,168	105,450	SH		SOLE	0	105,450	0	0
WINTRUST FINL CORP	COM	97650W108	6,237	96,511	SH		SOLE	0	96,511	0	0
WORLD FUEL SERVICES CORPORATION	COM	981475106	4,392	109,985	SH		SOLE	0	109,985	0	0
WPX ENERGY INC	COM	98212B103	7,912	747,188	SH		SOLE	0	747,188	0	0