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
Expires:	Oct 31, 2018
Estimated average burden
hours per response:		23.8

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
EATON CORP PLC	SHS	G29183103	936	7,015	SH		SOLE		0	0	7,015
WHITE MTNS INS GROUP LTD	COM	G9618E107	8,648	6,637	SH		SOLE		0	0	6,637
AAR CORP	COM	000361105	5,311	148,273	SH		SOLE		0	0	148,273
ABBOTT LABS	COM	002824100	369	3,810	SH		SOLE		0	0	3,810
ABBVIE INC	COM	00287Y109	4,845	36,100	SH		SOLE		0	0	36,100
ADVANCED ENERGY INDS	COM	007973100	6,319	81,627	SH		SOLE		0	0	81,627
AIR TRANSPORT SERVICES GRP I	COM	00922R105	4,654	193,185	SH		SOLE		0	0	193,185
ALEXANDRIA REAL ESTATE EQ IN	COM	015271109	2,103	15,003	SH		SOLE		0	0	15,003
ALIGHT INC	COM CL A	01626W101	2,780	379,280	SH		SOLE		0	0	379,280
ALPHABET INC	CAP STK CL C	02079K107	225	2,340	SH		SOLE		0	0	2,340
ALPHABET INC	CAP STK CL A	02079K305	2,605	27,233	SH		SOLE		0	0	27,233
AMAZON COM INC	COM	023135106	755	6,682	SH		SOLE		0	0	6,682
AMERICAN EAGLE OUTFITTERS IN	COM	02553E106	120	12,282	SH		SOLE		0	0	12,282
THE NECESSITY RETAIL REIT IN	COM CLASS A	02607T109	6,407	1,089,597	SH		SOLE		0	0	1,089,597
AMERICAN TOWER CORP NEW	COM	03027X100	3,090	14,394	SH		SOLE		0	0	14,394
AMERIS BANCORP	COM	03076K108	8,905	199,176	SH		SOLE		0	0	199,176
ANTERO MIDSTREAM CORP	COM	03676B102	2,773	302,123	SH		SOLE		0	0	302,123
APPLE INC	COM	037833100	4,591	33,218	SH		SOLE		0	0	33,218
ARMADA HOFFLER PPTYS INC	COM	04208T108	8,079	778,359	SH		SOLE		0	0	778,359
ARTISAN PARTNERS ASSET MGMT	CL A	04316A108	2,111	78,376	SH		SOLE		0	0	78,376
ASBURY AUTOMOTIVE GROUP INC	COM	043436104	6,147	40,682	SH		SOLE		0	0	40,682
ATKORE INC	COM	047649108	5,668	72,842	SH		SOLE		0	0	72,842
ATLANTIC UN BANKSHARES CORP	COM	04911A107	3,627	119,387	SH		SOLE		0	0	119,387
AVALONBAY CMNTYS INC	COM	053484101	887	4,818	SH		SOLE		0	0	4,818
AVID BIOSERVICES INC	COM	05368M106	3,324	173,825	SH		SOLE		0	0	173,825
AVIENT CORPORATION	COM	05368V106	5,763	190,168	SH		SOLE		0	0	190,168
BANCORP INC DEL	COM	05969A105	8,449	384,404	SH		SOLE		0	0	384,404
BANC OF CALIFORNIA INC	COM	05990K106	8,036	503,170	SH		SOLE		0	0	503,170
BANNER CORP	COM NEW	06652V208	4,814	81,488	SH		SOLE		0	0	81,488
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	1,716	6,425	SH		SOLE		0	0	6,425
BLACK HILLS CORP	COM	092113109	6,916	102,115	SH		SOLE		0	0	102,115
BLACKSTONE INC	COM	09260D107	295	3,520	SH		SOLE		0	0	3,520
BOOT BARN HLDGS INC	COM	099406100	2,523	43,158	SH		SOLE		0	0	43,158
BOSTON PROPERTIES INC	COM	101121101	661	8,823	SH		SOLE		0	0	8,823
BRIGHTVIEW HLDGS INC	COM	10948C107	1,419	178,686	SH		SOLE		0	0	178,686
CIGNA CORP NEW	COM	125523100	900	3,245	SH		SOLE		0	0	3,245
CVS HEALTH CORP	COM	126650100	296	3,105	SH		SOLE		0	0	3,105
CENTERSPACE	COM	15202L107	5,419	80,490	SH		SOLE		0	0	80,490
CHAMPIONX CORPORATION	COM	15872M104	2,992	152,874	SH		SOLE		0	0	152,874
CHEMBIO DIAGNOSTICS INC	COM NEW	163572209	4	10,000	SH		SOLE		0	0	10,000
CHEVRON CORP NEW	COM	166764100	380	2,643	SH		SOLE		0	0	2,643
CIVITAS RESOURCES INC	COM NEW	17888H103	747	13,019	SH		SOLE		0	0	13,019
COHU INC	COM	192576106	3,021	117,193	SH		SOLE		0	0	117,193
COLGATE PALMOLIVE CO	COM	194162103	706	10,046	SH		SOLE		0	0	10,046
COSTCO WHSL CORP NEW	COM	22160K105	875	1,853	SH		SOLE		0	0	1,853
CROWN CASTLE INC	COM	22822V101	1,556	10,767	SH		SOLE		0	0	10,767
CUSTOMERS BANCORP INC	COM	23204G100	3,402	115,417	SH		SOLE		0	0	115,417
DANA INC	COM	235825205	4,464	390,534	SH		SOLE		0	0	390,534
DEERE & CO	COM	244199105	250	750	SH		SOLE		0	0	750
DESIGNER BRANDS INC	CL A	250565108	2,584	168,769	SH		SOLE		0	0	168,769
DIME CMNTY BANCSHARES INC	COM	25432X102	2,753	94,015	SH		SOLE		0	0	94,015
DISNEY WALT CO	COM	254687106	663	7,027	SH		SOLE		0	0	7,027
DOVER CORP	COM	260003108	722	6,190	SH		SOLE		0	0	6,190
DUKE ENERGY CORP NEW	COM NEW	26441C204	531	5,711	SH		SOLE		0	0	5,711
EARTHSTONE ENERGY INC	CL A	27032D304	680	55,198	SH		SOLE		0	0	55,198
EDGEWELL PERS CARE CO	COM	28035Q102	3,571	95,484	SH		SOLE		0	0	95,484
ENPRO INDS INC	COM	29355X107	7,979	93,889	SH		SOLE		0	0	93,889
ENTERPRISE FINL SVCS CORP	COM	293712105	7,901	179,400	SH		SOLE		0	0	179,400
EPLUS INC	COM	294268107	2,331	56,123	SH		SOLE		0	0	56,123
EQUINIX INC	COM	29444U700	2,272	3,993	SH		SOLE		0	0	3,993
EQUITY LIFESTYLE PPTYS INC	COM	29472R108	1,360	21,650	SH		SOLE		0	0	21,650
ESSEX PPTY TR INC	COM	297178105	1,086	4,486	SH		SOLE		0	0	4,486
EXTRA SPACE STORAGE INC	COM	30225T102	2,771	16,045	SH		SOLE		0	0	16,045
F N B CORP	COM	302520101	3,688	317,892	SH		SOLE		0	0	317,892
FB FINL CORP	COM	30257X104	5,664	148,236	SH		SOLE		0	0	148,236
FEDERAL RLTY INVT TR NEW	SH BEN INT NEW	313745101	1,253	13,904	SH		SOLE		0	0	13,904
FIRST FNDTN INC	COM	32026V104	8,792	484,678	SH		SOLE		0	0	484,678
FIRST MERCHANTS CORP	COM	320817109	8,925	230,732	SH		SOLE		0	0	230,732
FIRST REP BK SAN FRANCISCO C	COM	33616C100	1,337	10,244	SH		SOLE		0	0	10,244
FIRST TR EXCH TRADED FD III	INSTL PFD SECS	33739P855	4,596	268,008	SH		SOLE		0	0	268,008
FOCUS FINL PARTNERS INC	COM CL A	34417P100	6,315	200,428	SH		SOLE		0	0	200,428
FULLER H B CO	COM	359694106	7,693	128,006	SH		SOLE		0	0	128,006
G III APPAREL GROUP LTD	COM	36237H101	2,065	138,121	SH		SOLE		0	0	138,121
GALLAGHER ARTHUR J & CO	COM	363576109	591	3,450	SH		SOLE		0	0	3,450
GLOBAL MED REIT INC	COM NEW	37954A204	5,818	682,876	SH		SOLE		0	0	682,876
GOLDEN ENTMT INC	COM	381013101	4,347	124,605	SH		SOLE		0	0	124,605
GOLDMAN SACHS GROUP INC	COM	38141G104	360	1,230	SH		SOLE		0	0	1,230
HARMONY BIOSCIENCES HLDGS IN	COM	413197104	2,403	54,258	SH		SOLE		0	0	54,258
HEARTLAND FINL USA INC	COM	42234Q102	7,406	170,798	SH		SOLE		0	0	170,798
HEALTHPEAK PROPERTIES INC	COM	42250P103	760	33,180	SH		SOLE		0	0	33,180
HILTON GRAND VACATIONS INC	COM	43283X105	5,320	161,745	SH		SOLE		0	0	161,745
HOSTESS BRANDS INC	CL A	44109J106	9,523	409,781	SH		SOLE		0	0	409,781
HUDSON PAC PPTYS INC	COM	444097109	3,424	312,709	SH		SOLE		0	0	312,709
INDEPENDENCE RLTY TR INC	COM	45378A106	5,178	309,539	SH		SOLE		0	0	309,539
INDEPENDENT BANK GROUP INC	COM	45384B106	7,295	118,836	SH		SOLE		0	0	118,836
INTEGER HLDGS CORP	COM	45826H109	5,099	81,935	SH		SOLE		0	0	81,935
INVESCO QQQ TR	UNIT SER 1	46090E103	289	1,081	SH		SOLE		0	0	1,081
INVESCO EXCHANGE TRADED FD T	S&P SPIN OFF	46137V159	644	13,515	SH		SOLE		0	0	13,515
INVESCO EXCHANGE TRADED FD T	S&P MDCP400 VL	46137V191	201	2,525	SH		SOLE		0	0	2,525
INVESCO EXCHANGE TRADED FD T	S&P500 EQL UTL	46137V274	362	3,400	SH		SOLE		0	0	3,400
INVESCO EXCHANGE TRADED FD T	S&P500 EQL TEC	46137V282	341	1,507	SH		SOLE		0	0	1,507
INVESCO EXCHANGE TRADED FD T	S&P500 EQL WGT	46137V357	935	7,345	SH		SOLE		0	0	7,345
INVESCO EXCH TRADED FD TR II	PFD ETF	46138E511	181	15,205	SH		SOLE		0	0	15,205
INVITATION HOMES INC	COM	46187W107	2,055	60,856	SH		SOLE		0	0	60,856
IRONWOOD PHARMACEUTICALS INC	COM CL A	46333X108	2,631	253,951	SH		SOLE		0	0	253,951
ISHARES TR	CORE US AGGBD ET	464287226	315	3,273	SH		SOLE		0	0	3,273
ISHARES TR	MSCI EAFE ETF	464287465	663	11,845	SH		SOLE		0	0	11,845
ISHARES TR	RUS MDCP VAL ETF	464287473	231	2,400	SH		SOLE		0	0	2,400
ISHARES TR	RUS MID CAP ETF	464287499	269	4,334	SH		SOLE		0	0	4,334
ISHARES TR	ISHARES SEMICDTR	464287523	294	922	SH		SOLE		0	0	922
ISHARES TR	RUS 2000 VAL ETF	464287630	1,223	9,485	SH		SOLE		0	0	9,485
ISHARES TR	RUS 2000 GRW ETF	464287648	884	4,280	SH		SOLE		0	0	4,280
ISHARES TR	CORE S&P US GWT	464287671	277	3,458	SH		SOLE		0	0	3,458
ISHARES TR	U.S. REAL ES ETF	464287739	1,307	16,054	SH		SOLE		0	0	16,054
ISHARES TR	PFD AND INCM SEC	464288687	351	11,086	SH		SOLE		0	0	11,086
JPMORGAN CHASE & CO	COM	46625H100	870	8,326	SH		SOLE		0	0	8,326
JACK IN THE BOX INC	COM	466367109	3,702	49,986	SH		SOLE		0	0	49,986
JOHNSON & JOHNSON	COM	478160104	2,168	13,271	SH		SOLE		0	0	13,271
KKR & CO INC	COM	48251W104	429	9,970	SH		SOLE		0	0	9,970
KADANT INC	COM	48282T104	3,744	22,447	SH		SOLE		0	0	22,447
KFORCE INC	COM	493732101	7,999	136,385	SH		SOLE		0	0	136,385
LA Z BOY INC	COM	505336107	2,771	122,795	SH		SOLE		0	0	122,795
LABORATORY CORP AMER HLDGS	COM NEW	50540R409	423	2,067	SH		SOLE		0	0	2,067
LADDER CAP CORP	CL A	505743104	4,842	540,347	SH		SOLE		0	0	540,347
LAMB WESTON HLDGS INC	COM	513272104	290	3,743	SH		SOLE		0	0	3,743
LOWES COS INC	COM	548661107	406	2,160	SH		SOLE		0	0	2,160
MAGNOLIA OIL & GAS CORP	CL A	559663109	3,816	192,619	SH		SOLE		0	0	192,619
MATERION CORP	COM	576690101	9,509	118,863	SH		SOLE		0	0	118,863
MCDONALDS CORP	COM	580135101	294	1,274	SH		SOLE		0	0	1,274
PATHWARD FINANCIAL INC	COM	59100U108	7,361	223,329	SH		SOLE		0	0	223,329
MICROSOFT CORP	COM	594918104	3,229	13,865	SH		SOLE		0	0	13,865
MID-AMER APT CMNTYS INC	COM	59522J103	1,236	7,968	SH		SOLE		0	0	7,968
MODINE MFG CO	COM	607828100	5,432	419,763	SH		SOLE		0	0	419,763
MODIVCARE INC	COM	60783X104	4,444	44,579	SH		SOLE		0	0	44,579
MYRIAD GENETICS INC	COM	62855J104	2,494	130,705	SH		SOLE		0	0	130,705
NEXSTAR MEDIA GROUP INC	COMMON STOCK	65336K103	12,042	72,168	SH		SOLE		0	0	72,168
NEXTGEN HEALTHCARE INC	COM	65343C102	6,144	347,145	SH		SOLE		0	0	347,145
NORTHERN OIL AND GAS INC MN	COM	665531307	4,508	164,468	SH		SOLE		0	0	164,468
NVIDIA CORPORATION	COM	67066G104	602	4,958	SH		SOLE		0	0	4,958
ONEMAIN HLDGS INC	COM	68268W103	3,687	124,926	SH		SOLE		0	0	124,926
OTTER TAIL CORP	COM	689648103	6,846	111,276	SH		SOLE		0	0	111,276
OWENS & MINOR INC NEW	COM	690732102	4,295	178,224	SH		SOLE		0	0	178,224
PDC ENERGY INC	COM	69327R101	6,603	114,261	SH		SOLE		0	0	114,261
PGT INNOVATIONS INC	COM	69336V101	4,715	224,939	SH		SOLE		0	0	224,939
PTC THERAPEUTICS INC	COM	69366J200	3,511	69,936	SH		SOLE		0	0	69,936
PACIFIC PREMIER BANCORP	COM	69478X105	2,964	95,735	SH		SOLE		0	0	95,735
PACIRA BIOSCIENCES INC	COM	695127100	5,077	95,443	SH		SOLE		0	0	95,443
PALO ALTO NETWORKS INC	COM	697435105	260	1,590	SH		SOLE		0	0	1,590
PATTERSON-UTI ENERGY INC	COM	703481101	3,389	290,113	SH		SOLE		0	0	290,113
PEBBLEBROOK HOTEL TR	COM	70509V100	5,872	404,739	SH		SOLE		0	0	404,739
PENN ENTERTAINMENT INC	COM	707569109	5,578	202,773	SH		SOLE		0	0	202,773
PEPSICO INC	COM	713448108	1,164	7,129	SH		SOLE		0	0	7,129
PFIZER INC	COM	717081103	265	6,060	SH		SOLE		0	0	6,060
PIMCO ETF TR	ACTIVE BD ETF	72201R775	290	3,234	SH		SOLE		0	0	3,234
PLEXUS CORP	COM	729132100	4,841	55,284	SH		SOLE		0	0	55,284
PORTLAND GEN ELEC CO	COM NEW	736508847	5,235	120,463	SH		SOLE		0	0	120,463
PREFERRED BK LOS ANGELES CA	COM NEW	740367404	9,651	147,954	SH		SOLE		0	0	147,954
PREMIER INC	CL A	74051N102	4,044	119,145	SH		SOLE		0	0	119,145
PRIMORIS SVCS CORP	COM	74164F103	5,679	349,502	SH		SOLE		0	0	349,502
PROCTER AND GAMBLE CO	COM	742718109	677	5,362	SH		SOLE		0	0	5,362
PROLOGIS INC.	COM	74340W103	3,403	33,497	SH		SOLE		0	0	33,497
PUBLIC STORAGE	COM	74460D109	2,140	7,307	SH		SOLE		0	0	7,307
REV GROUP INC	COM	749527107	3,559	322,627	SH		SOLE		0	0	322,627
RANGE RES CORP	COM	75281A109	2,970	117,592	SH		SOLE		0	0	117,592
REGENCY CTRS CORP	COM	758849103	868	16,103	SH		SOLE		0	0	16,103
RETAIL OPPORTUNITY INVTS COR	COM	76131N101	8,311	603,994	SH		SOLE		0	0	603,994
REXFORD INDL RLTY INC	COM	76169C100	2,480	47,698	SH		SOLE		0	0	47,698
RUTHS HOSPITALITY GROUP INC	COM	783332109	2,707	160,542	SH		SOLE		0	0	160,542
RYDER SYS INC	COM	783549108	5,770	76,434	SH		SOLE		0	0	76,434
RYMAN HOSPITALITY PPTYS INC	COM	78377T107	9,350	127,053	SH		SOLE		0	0	127,053
SL GREEN RLTY CORP	COM	78440X887	532	13,250	SH		SOLE		0	0	13,250
SPDR S&P 500 ETF TR	TR UNIT	78462F103	630	1,764	SH		SOLE		0	0	1,764
SPDR SER TR	S&P REGL BKG	78464A698	542	9,207	SH		SOLE		0	0	9,207
SPDR SER TR	S&P OILGAS EXP	78468R556	516	4,140	SH		SOLE		0	0	4,140
SABRA HEALTH CARE REIT INC	COM	78573L106	6,961	530,578	SH		SOLE		0	0	530,578
SCHOLASTIC CORP	COM	807066105	5,467	177,719	SH		SOLE		0	0	177,719
SCHWAB STRATEGIC TR	US BRD MKT ETF	808524102	2,259	53,793	SH		SOLE		0	0	53,793
SCHWAB STRATEGIC TR	US LRG CAP ETF	808524201	6,405	151,235	SH		SOLE		0	0	151,235
SCHWAB STRATEGIC TR	US MID-CAP ETF	808524508	441	7,285	SH		SOLE		0	0	7,285
SCHWAB STRATEGIC TR	US SML CAP ETF	808524607	649	17,180	SH		SOLE		0	0	17,180
SCHWAB STRATEGIC TR	SCHWB FDT INT LG	808524755	332	13,199	SH		SOLE		0	0	13,199
SCHWAB STRATEGIC TR	INTL EQTY ETF	808524805	299	10,612	SH		SOLE		0	0	10,612
SCHWAB STRATEGIC TR	US AGGREGATE B	808524839	741	16,356	SH		SOLE		0	0	16,356
SCHWAB STRATEGIC TR	US REIT ETF	808524847	1,473	78,814	SH		SOLE		0	0	78,814
SELECT SECTOR SPDR TR	SBI HEALTHCARE	81369Y209	784	6,473	SH		SOLE		0	0	6,473
SELECT SECTOR SPDR TR	ENERGY	81369Y506	435	6,040	SH		SOLE		0	0	6,040
SELECT MED HLDGS CORP	COM	81619Q105	4,739	214,441	SH		SOLE		0	0	214,441
SIMON PPTY GROUP INC NEW	COM	828806109	1,590	17,712	SH		SOLE		0	0	17,712
SOUTHSTATE CORPORATION	COM	840441109	201	2,536	SH		SOLE		0	0	2,536
SPECTRUM BRANDS HLDGS INC NE	COM	84790A105	2,695	69,050	SH		SOLE		0	0	69,050
STERLING INFRASTRUCTURE INC	COM	859241101	9,834	458,018	SH		SOLE		0	0	458,018
STONEX GROUP INC	COM	861896108	3,807	45,899	SH		SOLE		0	0	45,899
SUN CMNTYS INC	COM	866674104	1,717	12,692	SH		SOLE		0	0	12,692
SUPERNUS PHARMACEUTICALS INC	COM	868459108	4,488	132,598	SH		SOLE		0	0	132,598
TRI POINTE HOMES INC	COM	87265H109	3,632	240,368	SH		SOLE		0	0	240,368
TARGET CORP	COM	87612E106	497	3,350	SH		SOLE		0	0	3,350
TERADATA CORP DEL	COM	88076W103	2,325	74,856	SH		SOLE		0	0	74,856
TERRENO RLTY CORP	COM	88146M101	5,914	111,606	SH		SOLE		0	0	111,606
TEXAS CAP BANCSHARES INC	COM	88224Q107	6,143	104,058	SH		SOLE		0	0	104,058
TRAVERE THERAPEUTICS INC	COM	89422G107	2,917	118,371	SH		SOLE		0	0	118,371
TRIUMPH BANCORP INC	COM	89679E300	6,232	114,676	SH		SOLE		0	0	114,676
UNILEVER PLC	SPON ADR NEW	904767704	263	6,000	SH		SOLE		0	0	6,000
UNITED NAT FOODS INC	COM	911163103	5,484	159,555	SH		SOLE		0	0	159,555
UNITEDHEALTH GROUP INC	COM	91324P102	780	1,545	SH		SOLE		0	0	1,545
VANGUARD WORLD FD	ESG US STK ETF	921910733	267	4,240	SH		SOLE		0	0	4,240
VANGUARD SCOTTSDALE FDS	VNG RUS2000IDX	92206C664	1,453	21,812	SH		SOLE		0	0	21,812
VANGUARD INDEX FDS	MCAP VL IDXVIP	922908512	766	6,290	SH		SOLE		0	0	6,290
VERINT SYS INC	COM	92343X100	4,967	147,929	SH		SOLE		0	0	147,929
VERRA MOBILITY CORP	CL A COM STK	92511U102	4,203	273,428	SH		SOLE		0	0	273,428
WESCO INTL INC	COM	95082P105	6,938	58,118	SH		SOLE		0	0	58,118
WEYERHAEUSER CO MTN BE	COM NEW	962166104	882	30,874	SH		SOLE		0	0	30,874