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	3,150	35,580	SH		SOLE	0	35,580	0	0
ACADIA HEALTHCARE COMPANY, INC.	COM	00404A109	3,415	102,807	SH		SOLE	0	102,807	0	0
ACADIA REALTY TRUST	COM SH BEN INT	004239109	7,814	301,380	PRN		SOLE	0	301,380	0	0
ADT, INC.	COM	00090Q103	5,831	735,369	SH		SOLE	0	735,369	0	0
ADVANCED ENERGY INDUSTRIES, INC.	COM	007973100	3,871	54,372	SH		SOLE	0	54,372	0	0
AIR TRANSPORT SERVICES GROUP, INC.	COM	00922R105	3,714	158,334	SH		SOLE	0	158,334	0	0
ALPHABET INC CL A	COM	02079K305	1,131	845	SH		SOLE	0	845	0	0
AMERICAN EAGLE OUTFITTERS INC	COM	02553E106	5,636	383,402	SH		SOLE	0	383,402	0	0
AMERICAN TOWER CORP	COM	03027X100	2,975	12,947	SH		SOLE	0	12,947	0	0
AMERIS BANCORP	COM	03076K108	9,785	230,024	SH		SOLE	0	230,024	0	0
ANI PHARMACEUTICALS, INC.	COM	00182C103	6,263	101,567	SH		SOLE	0	101,567	0	0
APPLE INC	COM	037833100	1,445	4,923	SH		SOLE	0	4,923	0	0
AT&T INC	COM	00206R102	884	22,622	SH		SOLE	0	22,622	0	0
ATKOREINTL GROUP INC	COM	047649108	11,617	287,147	SH		SOLE	0	287,147	0	0
ATLANTIC CAP BANCSHARES INC	COM	048269203	202	11,047	SH		SOLE	0	11,047	0	0
ATLANTIC UNION BANKSHARES	COM	04911A107	11,766	313,368	SH		SOLE	0	313,368	0	0
AVALONBAY CMNTYS INC	COM	053484101	2,707	12,911	SH		SOLE	0	12,911	0	0
B&G FOODS, INC	COM	05508R106	5,977	333,403	SH		SOLE	0	333,403	0	0
BANNER CORP	COM	06652V208	3,620	63,970	SH		SOLE	0	63,970	0	0
BELDEN, INC.	COM	077454106	3,721	67,660	SH		SOLE	0	67,660	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	287	1,270	PRN		SOLE	0	1,270	0	0
BLACK HILLS CORP	COM	092113109	5,305	67,556	SH		SOLE	0	67,556	0	0
BOSTON PROPERTIES INC	COM	101121101	1,954	14,176	SH		SOLE	0	14,176	0	0
CACI INTERNATIONAL INC CLASS A	COM	127190304	7,777	31,111	SH		SOLE	0	31,111	0	0
CADENCE BANCORPORATION CLASS A	COM	12739A100	3,234	178,404	SH		SOLE	0	178,404	0	0
CALLON PETROLEUM CO	COM	13123X102	7,602	1,574,042	SH		SOLE	0	1,574,042	0	0
CAMDEN PROPERTY TRUST	COM	133131102	1,349	12,715	SH		SOLE	0	12,715	0	0
CBIZ INC	COM	124805102	7,713	286,111	SH		SOLE	0	286,111	0	0
CENTERSTATE BANKS INC	COM	15201P109	10,630	425,574	SH		SOLE	0	425,574	0	0
CHEESECAKE FACTORY INCORPORATED	COM	163072101	2,720	70,000	SH		SOLE	0	70,000	0	0
CHEMBIO DIAGNOSTICS INC	COM NEW	163572209	91	20,000	PRN		SOLE	0	20,000	0	0
CHEVRON CORP NEW	COM	166764100	851	7,062	SH		SOLE	0	7,062	0	0
CIRRUS LOGIC, INC.	COM	172755100	6,673	80,980	SH		SOLE	0	80,980	0	0
CITIGROUP INC	COM	172967424	520	6,517	SH		SOLE	0	6,517	0	0
COHERUS BIOSCIENCES, INC.	COM	19249H103	2,044	113,548	SH		SOLE	0	113,548	0	0
COLGATE PALMOLIVE CO	COM	194162103	683	9,930	SH		SOLE	0	9,930	0	0
COLUMBUS MCKINNON CORPORATION	COM	199333105	6,882	171,927	SH		SOLE	0	171,927	0	0
CORESITE REALTY CORP	COM	21870Q105	1,211	10,805	SH		SOLE	0	10,805	0	0
CUBIC CORPORATION	COM	229669106	3,331	52,408	SH		SOLE	0	52,408	0	0
CVS HEALTH CORP	COM	126650100	230	3,105	SH		SOLE	0	3,105	0	0
DESIGNER BRANDS INC	CL A	250565108	4,031	256,115	PRN		SOLE	0	256,115	0	0
DOVER CORP	COM	260003108	924	8,025	SH		SOLE	0	8,025	0	0
DUKE ENERGY CORP	COM	26441C204	557	6,116	SH		SOLE	0	6,116	0	0
EATON CORP PLC	SHS	G29183103	700	7,400	PRN		SOLE	0	7,400	0	0
EMCOR GROUP INC	COM	29084Q100	6,794	78,727	SH		SOLE	0	78,727	0	0
EMERGENT BIO SOLUTIONS INC.	COM	29089Q105	5,439	100,831	SH		SOLE	0	100,831	0	0
EMMIS COMMUNICTNS CORP CL A	COM	291525400	299	74,232	SH		SOLE	0	74,232	0	0
ENTERPRISE FINANCIAL SERVICES	COM	293712105	9,977	206,966	SH		SOLE	0	206,966	0	0
EQUINIX, INC.	COM	29444U700	1,604	2,749	SH		SOLE	0	2,749	0	0
EQUITY LIFESTYLE PPTYS	COM	29472R108	3,162	44,922	SH		SOLE	0	44,922	0	0
ESSENTIAL PPTYS RLTY TR INC	COM	29670E107	10,970	442,170	SH		SOLE	0	442,170	0	0
ESSEX PROPERTY TRUST	COM	297178105	1,620	5,385	SH		SOLE	0	5,385	0	0
EXTRA SPACE STORAGE	COM	30225T102	1,331	12,610	SH		SOLE	0	12,610	0	0
EXXON MOBIL CORP	COM	30231G102	408	5,852	SH		SOLE	0	5,852	0	0
FB FINANCIAL CORPORATION	COM	30257X104	4,426	111,796	SH		SOLE	0	111,796	0	0
FEDERAL REALTY INVT TR	COM	313747206	270	2,098	SH		SOLE	0	2,098	0	0
FERRO CORP	COM	315405100	3,108	209,612	SH		SOLE	0	209,612	0	0
FIRST BANCORP	COM	318672706	5,647	533,287	SH		SOLE	0	533,287	0	0
FIRST INTERSTATE BANCSYSTEM	COM	32055Y201	7,295	174,037	SH		SOLE	0	174,037	0	0
FIRST MERCHANTS CORPORATION	COM	320817109	8,573	206,132	SH		SOLE	0	206,132	0	0
FIRST REPUBLIC BANK	COM	33616C100	1,138	9,694	SH		SOLE	0	9,694	0	0
FIRST TR EXCH TRADED FD III	INSTL PFD SECS	33739P855	6,005	299,381	PRN		SOLE	0	299,381	0	0
FNB CORP	COM	302520101	11,371	895,389	SH		SOLE	0	895,389	0	0
GALLAGHER ARTHUR J &CO	COM	363576109	430	4,520	SH		SOLE	0	4,520	0	0
GIBRALTAR INDS INC	COM	374689107	5,371	106,492	SH		SOLE	0	106,492	0	0
G-III APPAREL GROUP, LTD.	COM	36237H101	4,131	123,328	SH		SOLE	0	123,328	0	0
GLOBAL BLOOD THERAPEUTICS INC.	COM	37890U108	2,937	36,953	SH		SOLE	0	36,953	0	0
GOODYEAR TIRE & RUBBER COMPANY	COM	382550101	3,543	227,774	SH		SOLE	0	227,774	0	0
H.B. FULLER COMPANY	COM	359694106	1,908	37,008	SH		SOLE	0	37,008	0	0
HD SUPPLY HOLDINGS INC	COM	40416M105	434	10,809	SH		SOLE	0	10,809	0	0
HERITAGE INS HLDGS INC	COM	42727J102	9,213	695,364	SH		SOLE	0	695,364	0	0
HILTON GRAND VA	COM	43283X105	7,400	215,186	SH		SOLE	0	215,186	0	0
HOSTESS BRANDS, INC. CLASS A	COM	44109J106	7,223	496,773	SH		SOLE	0	496,773	0	0
HUB GROUP, INC. CLASS A	COM	443320106	3,737	72,877	SH		SOLE	0	72,877	0	0
HUDSON PACIFIC PROPERTIES, INC.	COM	444097109	1,158	30,767	SH		SOLE	0	30,767	0	0
IDACORP INC	COM	451107106	8,100	75,852	SH		SOLE	0	75,852	0	0
INDEPENDENCE REALTY TRUST, INC.	COM	45378A106	12,960	920,510	SH		SOLE	0	920,510	0	0
INDEPENDENT BANK GROUP, INC.	COM	45384B106	7,824	141,133	SH		SOLE	0	141,133	0	0
INTEL CORP	COM	458140100	517	8,643	SH		SOLE	0	8,643	0	0
INTERCEPT PHARMACEUTICALS, INC.	COM	45845P108	2,343	18,914	SH		SOLE	0	18,914	0	0
INVESCO EXCHNG TRADED FD TR	KBW REGL BKG	46138E578	283	5,260	PRN		SOLE	0	5,260	0	0
INVESCO EXCHNG TRADED FD TR	PFD ETF	46138E511	307	20,480	PRN		SOLE	0	20,480	0	0
INVESCO EXCHNG TRADED FD TR	S&P500 EQL TEC	46137V282	818	4,133	PRN		SOLE	0	4,133	0	0
INVESCO EXCHNG TRADED FD TR	S&P SPIN-OFF	46137V159	1,558	30,828	PRN		SOLE	0	30,828	0	0
INVESCO QQQ TR	UNIT SER 1	46090E103	648	3,050	PRN		SOLE	0	3,050	0	0
INVITATION HOMES, INC.	COM	46187W107	1,305	43,569	SH		SOLE	0	43,569	0	0
ISHARES TR	RUS 2000 VAL ETF	464287630	329	2,560	PRN		SOLE	0	2,560	0	0
ISHARES TR	RUS 2000 GRW ETF	464287648	479	2,240	PRN		SOLE	0	2,240	0	0
ISHARES TR	MSCI EAFE ETF	464287465	1,213	17,475	PRN		SOLE	0	17,475	0	0
ISHARES TR	INTL DEV RE ETF	464288489	451	14,955	PRN		SOLE	0	14,955	0	0
ISHARES TR	RUS MID CAP ETF	464287499	746	12,528	PRN		SOLE	0	12,528	0	0
ISHARES TR	PFD AND INCM SEC	464288687	761	20,253	PRN		SOLE	0	20,253	0	0
ISHARES TR	U.S. REAL ES ETF	464287739	944	10,146	PRN		SOLE	0	10,146	0	0
JAGGED PEAK ENERGY, INC.	COM	47009K107	5,171	609,087	SH		SOLE	0	609,087	0	0
JERNIGAN CAP INC.	COM	476405105	5,162	269,698	SH		SOLE	0	269,698	0	0
JOHNSON & JOHNSON	COM	478160104	1,825	12,517	SH		SOLE	0	12,517	0	0
JPMORGAN CHASE & CO	COM	46625H100	1,324	9,505	SH		SOLE	0	9,505	0	0
KADANT INC	COM	48282T104	10,773	102,270	SH		SOLE	0	102,270	0	0
KAISER ALUMINUM CORP	COM	483007704	5,949	53,651	SH		SOLE	0	53,651	0	0
KEMPER CORPORATION	COM	488401100	7,306	94,275	SH		SOLE	0	94,275	0	0
KILROY REALTY CORP	COM	49427F108	908	10,830	SH		SOLE	0	10,830	0	0
KIMCO REALTY CORP	COM	49446R109	287	13,866	SH		SOLE	0	13,866	0	0
KOPPERS HOLDINGS INC.	COM	50060P106	6,814	178,301	SH		SOLE	0	178,301	0	0
LABORATORY CORP OF AMERICA	COM	50540R409	310	1,835	SH		SOLE	0	1,835	0	0
LAMB WESTON HLDS INC	COM	513272104	491	5,718	SH		SOLE	0	5,718	0	0
LOWES COMPANIES INC	COM	548661107	437	3,650	SH		SOLE	0	3,650	0	0
MACK-CALI REALTY CORPORATION	COM	554489104	4,036	174,529	SH		SOLE	0	174,529	0	0
MAGELLAN HEALTH, INC.	COM	559079207	3,693	47,207	SH		SOLE	0	47,207	0	0
MATERION CORP	COM	576690101	10,041	168,915	SH		SOLE	0	168,915	0	0
MAXIMUS, INC.	COM	577933104	3,850	51,765	SH		SOLE	0	51,765	0	0
META FINANCIAL GROUP, INC.	COM	59100U108	12,577	344,500	SH		SOLE	0	344,500	0	0
METHODE ELECTRONICS, INC.	COM	591520200	3,752	95,353	SH		SOLE	0	95,353	0	0
MICROSOFT CORP	COM	594918104	791	5,020	SH		SOLE	0	5,020	0	0
MKS INSTRUMENT INC	COM	55306N104	6,513	59,211	SH		SOLE	0	59,211	0	0
MURPHY OIL CORPORATION	COM	626717102	6,385	238,250	SH		SOLE	0	238,250	0	0
MYR GROUP INC	COM	55405W104	5,424	166,436	SH		SOLE	0	166,436	0	0
NATIONAL STORAGE AFFILIATES	COM SHS BEN IN	637870106	5,341	158,870	PRN		SOLE	0	158,870	0	0
NEW JERSEY RES	COM	646025106	3,954	88,728	SH		SOLE	0	88,728	0	0
NEXSTAR MEDIA GROUP INC	CL A	65336K103	17,158	146,345	PRN		SOLE	0	146,345	0	0
NUANCE COMMUNICATIONS, INC	COM	67020Y100	5,395	302,606	SH		SOLE	0	302,606	0	0
NUVASIVE, INC.	COM	670704105	7,832	101,271	SH		SOLE	0	101,271	0	0
ONE MAIN HOLDINGS	COM	68268W103	17,406	412,962	SH		SOLE	0	412,962	0	0
PACIFIC PREMIER BANCORP	COM	69478X105	7,159	219,597	SH		SOLE	0	219,597	0	0
PARK HOTELS & RESORTS INC	COM	700517105	688	26,603	SH		SOLE	0	26,603	0	0
PATTERSON COMPANIES, INC.	COM	703395103	3,516	171,692	SH		SOLE	0	171,692	0	0
PDC ENERGY	COM	69327R101	3,564	136,190	SH		SOLE	0	136,190	0	0
PEBBLEBROOK HOTEL	COM	70509V100	384	14,344	SH		SOLE	0	14,344	0	0
PENN NATIONAL GAMING, INC.	COM	707569109	8,471	331,417	SH		SOLE	0	331,417	0	0
PEPSICO INC	COM	713448108	1,177	8,616	SH		SOLE	0	8,616	0	0
PFIZER INC	COM	717081103	220	5,636	SH		SOLE	0	5,636	0	0
PHOTRONICS INC	COM	719405102	5,461	346,523	SH		SOLE	0	346,523	0	0
PINNACLE FINL PARTNERS, INC.	COM	72346Q104	9,899	154,676	SH		SOLE	0	154,676	0	0
PLEXUS CORP	COM	729132100	4,616	59,998	SH		SOLE	0	59,998	0	0
PORTLAND GENERAL	COM	736508847	5,569	99,824	SH		SOLE	0	99,824	0	0
PREFERRED BK LOS ANGELES CA	COM NEW	740367404	9,815	163,345	PRN		SOLE	0	163,345	0	0
PRIMERICA	COM	74164M108	7,586	58,105	SH		SOLE	0	58,105	0	0
PROCTER & GAMBLE CO	COM	742718109	887	7,106	SH		SOLE	0	7,106	0	0
PROGRESS SOFTWARE CORP	COM	743312100	4,750	114,324	SH		SOLE	0	114,324	0	0
PROLOGIS	COM	74340W103	3,400	38,143	SH		SOLE	0	38,143	0	0
PS BUSINESS PARKS, INC.	COM	69360J107	7,543	45,756	SH		SOLE	0	45,756	0	0
PUBLIC STORAGE INC	COM	74460D109	716	3,365	SH		SOLE	0	3,365	0	0
QTS REALTY TRUST INC	COM	74736A103	11,159	205,630	SH		SOLE	0	205,630	0	0
QUANTA SERVICES INC.	COM	74762E102	8,417	206,759	SH		SOLE	0	206,759	0	0
REGENCY CTRS CORP	COM	758849103	919	14,578	SH		SOLE	0	14,578	0	0
REXFORD INDUSTRIAL REALTY	COM	76169C100	14,559	318,787	SH		SOLE	0	318,787	0	0
RUTH`S HOSPITALITY GROUP, INC.	COM	783332109	6,975	320,481	SH		SOLE	0	320,481	0	0
SABRA HEALTH CARE REIT	COM	78573L106	7,707	361,173	SH		SOLE	0	361,173	0	0
SCHWAB STRATEGIC TR	US DIVIDEND EQ	808524797	297	5,130	PRN		SOLE	0	5,130	0	0
SCHWAB STRATEGIC TR	1000 INDEX ETF	808524722	411	13,038	PRN		SOLE	0	13,038	0	0
SCHWAB STRATEGIC TR	US MID-CAP ETF	808524508	694	11,550	PRN		SOLE	0	11,550	0	0
SCHWAB STRATEGIC TR	US SML CAP ETF	808524607	730	9,656	PRN		SOLE	0	9,656	0	0
SCHWAB STRATEGIC TR	INTL EQTY ETF	808524805	854	25,414	PRN		SOLE	0	25,414	0	0
SCHWAB STRATEGIC TR	US BRD MKT ETF	808524102	1,467	19,094	PRN		SOLE	0	19,094	0	0
SCHWAB STRATEGIC TR	US REIT ETF	808524847	2,349	51,116	PRN		SOLE	0	51,116	0	0
SCHWAB STRATEGIC TR	US LRG CAP ETF	808524201	8,189	106,615	PRN		SOLE	0	106,615	0	0
SELECTIVE INS GROUP	COM	816300107	5,403	82,886	SH		SOLE	0	82,886	0	0
SIMON PROPERTY GROUP	COM	828806109	1,877	12,604	SH		SOLE	0	12,604	0	0
SIX FLAGS ENTMT CORP NEW	COM	83001A102	3,112	68,991	SH		SOLE	0	68,991	0	0
SKYWEST INC	COM	830879102	11,566	178,968	SH		SOLE	0	178,968	0	0
SKYWORKS SOLUTIONS INC	COM	83088M102	213	1,770	SH		SOLE	0	1,770	0	0
SL GREEN REALTY	COM	78440X101	519	5,659	SH		SOLE	0	5,659	0	0
SOUTH JERSEY INDS INC	COM	838518108	5,647	171,234	SH		SOLE	0	171,234	0	0
SOUTHERN CO	COM	842587107	210	3,310	SH		SOLE	0	3,310	0	0
SOUTHWEST AIRLS CO	COM	844741108	341	6,330	SH		SOLE	0	6,330	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	1,703	5,294	PRN		SOLE	0	5,294	0	0
SPIRE, INC	COM	84857L101	6,068	72,841	SH		SOLE	0	72,841	0	0
STERLING BANCORP	COM	85917A100	6,550	310,765	SH		SOLE	0	310,765	0	0
STERLING CONSTRUCTION COMPANY, INC.	COM	859241101	3,550	252,137	SH		SOLE	0	252,137	0	0
STIFEL FINANCIAL CORP	COM	860630102	6,710	110,643	SH		SOLE	0	110,643	0	0
STORE CAPITAL CORPORATION	COM	862121100	877	23,551	SH		SOLE	0	23,551	0	0
SUN COMMUNITIES INC	COM	866674104	1,950	12,994	SH		SOLE	0	12,994	0	0
SYNEOS HEALTH, INC. CLASS A	COM	87166B102	9,037	151,951	SH		SOLE	0	151,951	0	0
SYNNEX CORP	COM	87162W100	9,303	72,233	SH		SOLE	0	72,233	0	0
TEGNA, INC.	COM	87901J105	3,688	220,993	SH		SOLE	0	220,993	0	0
TERRAFORM PWR INC	COM CL A	88104R209	4,984	323,889	PRN		SOLE	0	323,889	0	0
TERRENO REALTY CORPORATION	COM	88146M101	3,377	62,384	SH		SOLE	0	62,384	0	0
TIMKEN CO	COM	887389104	3,975	70,594	SH		SOLE	0	70,594	0	0
TIVITY HEALTH, INC.	COM	88870R102	3,724	183,091	SH		SOLE	0	183,091	0	0
TOPBUILD CORP	COM	89055F103	13,608	132,015	SH		SOLE	0	132,015	0	0
TRIUMPH BANCORP, INC.	COM	89679E300	8,151	214,404	SH		SOLE	0	214,404	0	0
UMPQUA HOLDINGS CORP	COM	904214103	5,998	338,897	SH		SOLE	0	338,897	0	0
UNILEVER NV	N Y SHS NEW	904784709	344	6,000	PRN		SOLE	0	6,000	0	0
VENTAS INC	COM	92276F100	265	4,591	SH		SOLE	0	4,591	0	0
VERINT SYS INC	COM	92343X100	6,825	123,296	SH		SOLE	0	123,296	0	0
VERIZON COMMUNICATIONS	COM	92343V104	612	9,978	SH		SOLE	0	9,978	0	0
VISA INC	COM CL A	92826C839	220	1,172	PRN		SOLE	0	1,172	0	0
VORNADO REALTY TRUST	SH BEN INT	929042109	204	3,082	PRN		SOLE	0	3,082	0	0
WALT DISNEY CO	COM	254687106	958	6,627	SH		SOLE	0	6,627	0	0
WELLTOWER INC	COM	95040Q104	1,698	20,764	SH		SOLE	0	20,764	0	0
WESBANCO, INC.	COM	950810101	6,769	179,126	SH		SOLE	0	179,126	0	0
WILLIAMS SONOMA INC	COM	969904101	6,185	84,219	SH		SOLE	0	84,219	0	0
WINTRUST FINL CORP	COM	97650W108	9,711	136,979	SH		SOLE	0	136,979	0	0
WORLD FUEL SERVICES CORPORATION	COM	981475106	3,814	87,854	SH		SOLE	0	87,854	0	0
WPX ENERGY INC	COM	98212B103	9,484	690,275	SH		SOLE	0	690,275	0	0