Foundry Partners 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
APOLLO COMM REAL ESTATE	REIT	03762U105	4,253	230,541	SH		SOLE		62,786	0	167,755
ASHFORD HOSPITALITY TR COM SHS	REIT	044103109	7,457	1,107,981	SH		SOLE		301,751	0	806,230
BRANDYWINE REALTY TRUST	REIT	105368203	19,636	1,079,492	SH		SOLE		297,783	0	781,709
COMMUNITY HEALTHCARE TRUST	REIT	20369C106	3,649	129,875	SH		SOLE		53,890	0	75,985
CONDOR HOSPITALITY	REIT	20676Y403	2,062	207,225	SH		SOLE		85,215	0	122,010
DDR CORP	REIT	23317H102	3,053	340,725	SH		SOLE		267,195	0	73,530
DIAMONDROCK HOSPITALITY	REIT	252784301	347	30,760	SH		SOLE		13,375	0	17,385
GEO GROUP INC	REIT	36162J106	8,409	356,332	SH		SOLE		91,776	0	264,556
HOSPITALITY PROPERTIES TRUST	REIT	44106M102	4,578	153,359	SH		SOLE		42,236	0	111,123
INDEPENDENCE REALTY TRUST	REIT	45378A106	7,313	724,760	SH		SOLE		320,900	0	403,860
KIMCO REALTY CORP	REIT	49446R109	6,718	370,125	SH		SOLE		290,275	0	79,850
LEXINGTON REALTY TRUST	REIT	529043101	10,959	1,135,695	SH		SOLE		314,288	0	821,407
MACK CALI RLTY CORP COM	REIT	554489104	11,357	526,769	SH		SOLE		144,325	0	382,444
MEDICAL PROPERTIES TRUST INC	REIT	58463J304	10,441	757,692	SH		SOLE		205,714	0	551,978
SELECT INCOME REIT	REIT	81618T100	7,016	279,180	SH		SOLE		77,097	0	202,083
SUNSTONE HOTEL INV INC	REIT	867892101	1,643	99,404	SH		SOLE		25,951	0	73,453
VEREIT INC	REIT	92339V100	6,696	859,550	SH		SOLE		674,035	0	185,515
WELLTOWER INC	REIT	95040Q104	558	8,753	SH		SOLE		1,576	0	7,177
1 800 FLOWERS COM CL A	COM	68243Q106	6,582	615,120	SH		SOLE		273,640	0	341,480
A O SMITH CORP	COM	831865209	936	15,275	SH		SOLE		2,847	0	12,428
AAR CORP	COM	000361105	15,035	382,673	SH		SOLE		104,218	0	278,455
AARON'S INC	COM	002535300	6,822	171,180	SH		SOLE		46,620	0	124,560
ABRAXAS PETE CORP	COM	003830106	3,676	1,494,450	SH		SOLE		628,050	0	866,400
ADOBE SYSTEMS INC	COM	00724F101	276	1,574	SH		SOLE		1,574	0	0
ADTALEM GLOBAL EDUCATION	COM	00737L103	13,182	313,474	SH		SOLE		87,424	0	226,050
ADURO BIOTECH INC	COM	00739L101	651	86,798	SH		SOLE		22,678	0	64,120
AEGEAN MARINE PETROLEUM	COM	Y0017S102	2,291	532,771	SH		SOLE		239,671	0	293,100
AEGION CORP	COM	00770F104	13,750	540,682	SH		SOLE		181,565	0	359,117
AIRCASTLE LTD	COM	G0129K104	17,421	744,790	SH		SOLE		202,839	0	541,951
ALLETE INC	COM	018522300	14,992	201,619	SH		SOLE		52,559	0	149,060
ALLIANCE RES PARTNR LP UT LTD	COM	01877R108	4,355	221,064	SH		SOLE		60,205	0	160,859
ALLIANCEBERNSTEIN HOLDING LP	COM	01881G106	9,554	381,390	SH		SOLE		103,869	0	277,521
ALLSCRIPTS HEALTHCARE	COM	01988P108	425	29,238	SH		SOLE		12,163	0	17,075
ALMOST FAMILY INC	COM	020409108	9,113	164,645	SH		SOLE		61,594	0	103,051
ALPHABET INC A	COM	02079K305	946	898	SH		SOLE		473	0	425
AMAZON.COM INC	COM	023135106	732	626	SH		SOLE		351	0	275
AMC NETWORKS INC-A	COM	00164V103	1,132	20,925	SH		SOLE		5,458	0	15,467
AMEDISYS INC	COM	023436108	1,632	30,967	SH		SOLE		8,075	0	22,892
AMERICAN AIRLINES GROUP	COM	02376R102	9,940	191,045	SH		SOLE		149,810	0	41,235
AMERICAN AXLE & MFG HOLDINGS	COM	024061103	13,848	813,124	SH		SOLE		221,449	0	591,675
AMERICAN EAGLE OUTFITTERS	COM	02553E106	352	18,720	SH		SOLE		7,825	0	10,895
AMERICAN VANGUARD CORP	COM	030371108	1,961	99,793	SH		SOLE		26,039	0	73,754
AMERICAN WOODMARK CORP	COM	030506109	2,045	15,701	SH		SOLE		4,095	0	11,606
AMERIPRISE FINANCIAL	COM	03076C106	11,372	67,101	SH		SOLE		49,554	0	17,547
AMGEN INC	COM	031162100	14,682	84,430	SH		SOLE		64,625	0	19,805
AMPHENOL CORP-CL A	COM	032095101	1,028	11,712	SH		SOLE		2,592	0	9,120
ANGIODYNAMICS INC	COM	03475V101	6,417	385,895	SH		SOLE		172,775	0	213,120
APOGEE ENTERPRISES	COM	037598109	596	13,035	SH		SOLE		5,050	0	7,985
APPLE INC	COM	037833100	1,107	6,542	SH		SOLE		3,252	0	3,290
ARISTA NETWORKS INC	COM	040413106	237	1,006	SH		SOLE		0	0	1,006
ARMSTRONG WORLD	COM	04247x102	2,587	42,729	SH		SOLE		11,160	0	31,569
ASPEN TECHNOLOGY INC	COM	045327103	2,425	36,635	SH		SOLE		9,287	0	27,348
ASSOCIATED BANC CORP	COM	045487105	18,325	721,449	SH		SOLE		196,437	0	525,012
AT & T INC COM	COM	00206R102	23,888	614,405	SH		SOLE		474,110	0	140,295
AVX CORP	COM	002444107	5,487	317,163	SH		SOLE		86,377	0	230,786
BANC OF CALIFORNIA	COM	05990K106	357	17,310	SH		SOLE		7,225	0	10,085
BANK OF COMMERCE HOLDINGS	COM	06424J103	1,956	170,105	SH		SOLE		71,230	0	98,875
BANNER CORP	COM	06652V208	567	10,289	SH		SOLE		3,839	0	6,450
BAR HARBOR BANKSHARES	COM	066849100	2,561	94,804	SH		SOLE		39,627	0	55,177
BARNES GROUP INC	COM	067806109	16,950	267,893	SH		SOLE		72,893	0	195,000
BARRETT BUSINESS SVCS INC	COM	068463108	6,014	93,255	SH		SOLE		41,140	0	52,115
BASIC ENERGY SERVICES	COM	06985P209	2,787	118,750	SH		SOLE		49,600	0	69,150
BEL FUSE INC - CL B	COM	077347300	3,650	144,975	SH		SOLE		60,625	0	84,350
BELDEN INC	COM	077454106	12,465	161,529	SH		SOLE		43,999	0	117,530
BERKSHIRE HILLS BANC	COM	084680107	554	15,145	SH		SOLE		5,695	0	9,450
BIG LOTS INC	COM	089302103	8,707	155,071	SH		SOLE		42,233	0	112,838
BIO-TECHNE CORP	COM	09073M104	2,245	17,332	SH		SOLE		4,255	0	13,077
BLACK BOX CORP	COM	091826107	2,193	617,625	SH		SOLE		254,100	0	363,525
BLOOMIN' BRANDS INC	COM	094235108	15,278	715,945	SH		SOLE		194,983	0	520,962
BLUEPRINT MEDICINES CORP	COM	09627Y109	1,202	15,942	SH		SOLE		4,162	0	11,780
BOFI HOLDING INC	COM	05566U108	559	18,705	SH		SOLE		7,940	0	10,765
BRINK'S CO/THE	COM	109696104	4,968	63,132	SH		SOLE		17,207	0	45,925
BRINKER INTERNATIONAL INC	COM	109641100	397	10,220	SH		SOLE		4,500	0	5,720
BRISTOL-MYERS SQUIBB CO	COM	110122108	17,451	284,770	SH		SOLE		219,545	0	65,225
CABOT CORP	COM	127055101	12,476	202,573	SH		SOLE		55,198	0	147,375
CALERES INC	COM	129500104	349	10,415	SH		SOLE		4,400	0	6,015
CANTEL MEDICAL CORP	COM	138098108	3,124	30,367	SH		SOLE		7,928	0	22,439
CAPITAL ONE FINANCIAL CORP	COM	14040H105	21,744	218,360	SH		SOLE		171,270	0	47,090
CARE.COM INC	COM	141633107	2,003	111,038	SH		SOLE		29,012	0	82,026
CARNIVAL CORP	COM	143658300	11,094	167,155	SH		SOLE		131,100	0	36,055
CARPENTER TECHNOLOGY	COM	144285103	455	8,925	SH		SOLE		3,745	0	5,180
CARRIZO OIL & INC COM	COM	144577103	1,012	47,533	SH		SOLE		12,418	0	35,115
CARTER INC COM	COM	146229109	200	1,704	SH		SOLE		0	0	1,704
CATALENT INC	COM	148806102	1,379	33,560	SH		SOLE		8,762	0	24,798
CATHAY GENERAL BANCORP COM	COM	149150104	1,044	24,749	SH		SOLE		6,466	0	18,283
CAVCO INDUSTRIES	COM	149568107	2,739	17,949	SH		SOLE		4,686	0	13,263
CECO ENVIRONMENTAL	COM	125141101	3,800	740,653	SH		SOLE		291,910	0	448,743
CELESTICA INC SUB VTG SHS	COM	15101Q108	7,155	682,719	SH		SOLE		185,934	0	496,785
CENTRAL GARDEN&PET CO COM	COM	153527106	1,652	42,435	SH		SOLE		11,078	0	31,357
CENTURY CASINOS INC	COM	156492100	3,728	408,360	SH		SOLE		170,610	0	237,750
CHARLES RIV LABS INTL COM	COM	159864107	9,834	89,849	SH		SOLE		25,684	0	64,165
CHEFS WAREHOUSE INC	COM	163086101	1,569	76,525	SH		SOLE		19,980	0	56,545
CHEMICAL FINL CORP COM	COM	163731102	5,878	109,938	SH		SOLE		24,713	0	85,225
CHEVRON CORP	COM	166764100	34,415	274,905	SH		SOLE		213,130	0	61,775
CISCO SYSTEMS	COM	17275R102	18,125	473,235	SH		SOLE		371,130	0	102,105
CITI TRENDS INC	COM	17306X102	1,132	42,788	SH		SOLE		11,162	0	31,626
CITIGROUP INC	COM	172967424	35,297	474,365	SH		SOLE		365,565	0	108,800
CITIZENS FINANCIAL GROUP	COM	174610105	15,706	374,135	SH		SOLE		293,385	0	80,750
CLIFTON BANCORP	COM	186873105	2,724	159,325	SH		SOLE		66,650	0	92,675
COEUR MINING	COM	192108504	5,535	737,975	SH		SOLE		200,983	0	536,992
COLUMBUS MCKINNON N Y COM	COM	199333105	6,156	153,980	SH		SOLE		66,893	0	87,087
COMMVAULT SYSTEMS	COM	204166102	2,079	39,593	SH		SOLE		10,338	0	29,255
COMTECH CORP	COM	205826209	4,300	194,375	SH		SOLE		85,810	0	108,565
CONOCOPHILLIPS	COM	20825C104	8,564	156,020	SH		SOLE		118,415	0	37,605
CONVERGYS CORP	COM	212485106	5,909	251,445	SH		SOLE		68,480	0	182,965
COOPER-STANDARD	COM	21676P103	1,373	11,208	SH		SOLE		2,929	0	8,279
COOPER TIRE & RUBBER	COM	216831107	10,787	305,139	SH		SOLE		83,103	0	222,036
COSTCO CORP	COM	22160K105	214	1,148	SH		SOLE		1,148	0	0
COVENANT TRANSPORTATION	COM	22284P105	8,515	296,380	SH		SOLE		130,595	0	165,785
COWEN INC-CLASS A	COM	223622606	4,653	340,885	SH		SOLE		150,925	0	189,960
CRA INTERNATIONAL	COM	12618T105	6,096	135,610	SH		SOLE		56,725	0	78,885
CRANE CO	COM	224399105	10,660	119,480	SH		SOLE		32,925	0	86,555
CROSS COUNTRY HEALTH	COM	227483104	5,599	438,800	SH		SOLE		195,675	0	243,125
CSG SYS INTL INC COM	COM	126349109	9,353	213,447	SH		SOLE		58,131	0	155,316
CULP INC	COM	230215105	1,564	46,695	SH		SOLE		19,345	0	27,350
CUMMINS INC	COM	231021106	214	1,214	SH		SOLE		0	0	1,214
CVS HEALTH	COM	126650100	18,683	257,700	SH		SOLE		197,760	0	59,940
CYTOMX THERAPEUTICS	COM	23284F105	899	42,600	SH		SOLE		11,100	0	31,500
DEL FRISCOS RESTAURANT	COM	245077102	4,650	304,935	SH		SOLE		127,435	0	177,500
DELEK US HOLDINGS INC	COM	24665A103	265	7,590	SH		SOLE		3,300	0	4,290
DELUXE CORP COM	COM	248019101	2,444	31,810	SH		SOLE		8,306	0	23,504
DENBURY RESOURCES INC	COM	247916208	2,210	1,000,171	SH		SOLE		273,919	0	726,252
DENTSPLY SIRONA INC	COM	24906P109	610	9,263	SH		SOLE		1,805	0	7,458
DIME COMMUNITY BANC	COM	253922108	6,560	313,105	SH		SOLE		129,955	0	183,150
DOMTAR CORP	COM	257559203	13,980	282,308	SH		SOLE		77,570	0	204,738
DONNELLEY FINANANCIAL SOLUTION	COM	25787G100	4,681	240,155	SH		SOLE		65,404	0	174,751
DORMAN PRODUCTS INC	COM	258278100	1,397	22,844	SH		SOLE		5,952	0	16,892
DUCOMMUN INC	COM	264147109	5,714	200,845	SH		SOLE		89,500	0	111,345
DXC TECHNOLOGY CO	COM	23355L106	12,060	127,085	SH		SOLE		99,660	0	27,425
EAGLE BANCORP INC MD COM	COM	268948106	1,618	27,939	SH		SOLE		7,279	0	20,660
EAGLE PHARMACEUTICALS INC	COM	269796108	391	7,315	SH		SOLE		3,200	0	4,115
EATON CORP	COM	G29183103	11,892	150,510	SH		SOLE		118,030	0	32,480
EDWARDS LIFESCIENCES CORP	COM	28176E108	334	2,963	SH		SOLE		958	0	2,005
EL PASO ELECTRIC CO	COM	283677854	374	6,765	SH		SOLE		2,880	0	3,885
ELECTRO SCIENTIFIC	COM	285229100	2,880	134,390	SH		SOLE		56,145	0	78,245
ELECTRONIC ARTS INC	COM	285512109	761	7,247	SH		SOLE		1,571	0	5,676
EMCOR GROUP INC	COM	29084Q100	14,409	176,261	SH		SOLE		50,403	0	125,858
EMERGENT BIOSOLUTIONS	COM	29089Q105	2,650	57,026	SH		SOLE		14,627	0	42,399
ENCORE WIRE CORP	COM	292562105	561	11,540	SH		SOLE		4,970	0	6,570
ENERSYS	COM	29275Y102	12,860	184,694	SH		SOLE		50,300	0	134,394
ESSA BANCORP INC	COM	29667D104	3,201	204,295	SH		SOLE		94,535	0	109,760
ETHAN ALLEN INTERIORS COM	COM	297602104	4,447	155,490	SH		SOLE		69,675	0	85,815
EURONET WORLDWIDE INC COM	COM	298736109	2,112	25,061	SH		SOLE		6,042	0	19,019
EXELON CORP COM	COM	30161N101	18,052	458,060	SH		SOLE		351,905	0	106,155
EXPRESS SCRIPTS HOLDING CO	COM	30219G108	10,944	146,630	SH		SOLE		114,980	0	31,650
EXTENDED STAY AMERICA INC	COM	30224P200	1,989	104,665	SH		SOLE		27,328	0	77,337
FABRINET	COM	G3323L100	331	11,520	SH		SOLE		4,925	0	6,595
FACEBOOK INC-A	COM	30303M102	834	4,728	SH		SOLE		2,488	0	2,240
FIDELITY SOUTHN CORP COM	COM	316394105	4,524	207,525	SH		SOLE		93,925	0	113,600
FINANCIAL INSTNS INC	COM	317585404	5,797	186,390	SH		SOLE		81,930	0	104,460
FIRST BANCORP INC ME	COM	31866P102	3,020	110,920	SH		SOLE		50,945	0	59,975
FIRST FINANCIAL	COM	320218100	6,390	140,910	SH		SOLE		62,425	0	78,485
FIRST INTERNET BANC	COM	320557101	6,983	183,037	SH		SOLE		80,552	0	102,485
FIRST MIDWEST BANCORP COM	COM	320867104	12,961	539,833	SH		SOLE		147,020	0	392,813
FIRSTENERGY CORP	COM	337932107	13,633	445,225	SH		SOLE		349,140	0	96,085
FISERV INC	COM	337738108	840	6,408	SH		SOLE		876	0	5,532
FNB CORP	COM	302520101	7,658	554,117	SH		SOLE		145,532	0	408,585
FORD MOTOR CO	COM	345370860	5,622	450,095	SH		SOLE		353,000	0	97,095
FRANKLIN FINANCIAL NETWORK	COM	35352P104	5,481	160,735	SH		SOLE		72,390	0	88,345
FULTON FINL CORP PA COM	COM	360271100	21,339	1,192,149	SH		SOLE		324,674	0	867,475
GENERAC HOLDINGS INC	COM	368736104	14,835	299,576	SH		SOLE		80,957	0	218,619
GENERAL DYNAMICS	COM	369550108	5,205	25,582	SH		SOLE		18,337	0	7,245
GILEAD SCIENCES	COM	375558103	258	3,606	SH		SOLE		881	0	2,725
GLATFELTER	COM	377316104	8,027	374,410	SH		SOLE		166,030	0	208,380
GLOBAL BRASS & COPPER HOLD	COM	37953G103	10,342	312,459	SH		SOLE		85,096	0	227,363
GOLDMAN SACHS	COM	38141G104	20,680	81,175	SH		SOLE		62,370	0	18,805
GRAHAM CORP	COM	384556106	5,635	269,228	SH		SOLE		120,210	0	149,018
GRAN TIERRA ENERGY	COM	38500T101	4,693	1,738,316	SH		SOLE		473,419	0	1,264,897
GRAND CANYON EDUCATION INC	COM	38526M106	3,308	36,950	SH		SOLE		9,646	0	27,304
GRANITE CONSTRUCTION INC	COM	387328107	576	9,085	SH		SOLE		3,860	0	5,225
GREAT WESTERN BANCORP INC.	COM	391416104	1,311	32,929	SH		SOLE		8,588	0	24,341
GREEN BANCORP INC	COM	39260X100	1,807	89,025	SH		SOLE		37,225	0	51,800
GREENHILL & CO INC	COM	395259104	5,329	273,300	SH		SOLE		121,910	0	151,390
GULF ISLAND FABRICATN	COM	402307102	4,137	308,180	SH		SOLE		131,845	0	176,335
GULFPORT ENERGY	COM	402635304	233	18,265	SH		SOLE		7,890	0	10,375
HANCOCK HOLDING CO	COM	410120109	21,500	434,353	SH		SOLE		122,532	0	311,821
HANMI FINANCIAL CORP	COM	410495204	6,017	198,245	SH		SOLE		82,525	0	115,720
HANOVER INSURANCE GROUP INC/	COM	410867105	12,629	116,846	SH		SOLE		32,112	0	84,734
HARDINGE INC COM	COM	412324303	3,327	190,980	SH		SOLE		85,080	0	105,900
HARTE-HANKS INC COM	COM	416196103	509	536,625	SH		SOLE		226,225	0	310,400
HARTFORD FINANCIAL SERVICES	COM	416515104	10,737	190,779	SH		SOLE		149,844	0	40,935
HARVARD BIOSCIENCE INC COM	COM	416906105	2,413	731,345	SH		SOLE		346,310	0	385,035
HAVERTY FURNITURE	COM	419596101	2,283	100,800	SH		SOLE		42,170	0	58,630
HAYNES INTERNATIONAL	COM	420877201	5,982	186,660	SH		SOLE		82,395	0	104,265
HCI GROUP INC	COM	40416E103	6,151	205,721	SH		SOLE		92,711	0	113,010
HEALTHCARE SVCS GP	COM	421906108	2,877	54,568	SH		SOLE		14,020	0	40,548
HEALTHEQUITY INC	COM	42226A107	1,453	31,147	SH		SOLE		8,138	0	23,009
HEALTHSOUTH CORP	COM	421924309	2,780	56,273	SH		SOLE		14,688	0	41,585
HELEN OF TROY LTD	COM	G4388N106	6,365	66,062	SH		SOLE		17,991	0	48,071
HERITAGE INSURANCE HOLDING INC	COM	42727J102	5,364	297,675	SH		SOLE		124,350	0	173,325
HEXCEL CORP	COM	428291108	1,426	23,061	SH		SOLE		5,995	0	17,066
HILL INTERNATIONAL	COM	431466101	3,157	579,280	SH		SOLE		252,330	0	326,950
HILLENBRAND INC	COM	431571108	12,378	276,916	SH		SOLE		75,417	0	201,499
HOME DEPOT INC	COM	437076102	996	5,253	SH		SOLE		2,028	0	3,225
HOMESTREET INC	COM	43785V102	6,459	223,100	SH		SOLE		99,815	0	123,285
HOMETRUST BANCSHARES	COM	437872104	5,583	216,830	SH		SOLE		95,065	0	121,765
HOPE BANCORP	COM	43940T109	405	22,210	SH		SOLE		9,400	0	12,810
HORIZON BANCORP IND COM	COM	440407104	6,614	237,902	SH		SOLE		99,835	0	138,067
HP INC	COM	40434L105	13,171	626,910	SH		SOLE		491,620	0	135,290
HUB GROUP INC CL A	COM	443320106	1,448	30,222	SH		SOLE		7,884	0	22,338
HYSTER-YALE MATERIALS	COM	449172105	10,228	120,101	SH		SOLE		32,709	0	87,392
ICHOR HOLDINGS LTD	COM	G4740B105	5,705	231,895	SH		SOLE		103,670	0	128,225
IDACORP INC COM	COM	451107106	9,416	103,060	SH		SOLE		28,606	0	74,454
IDT CORP CL B	COM	448947507	4,614	435,295	SH		SOLE		199,265	0	236,030
II VI INC COM	COM	902104108	2,495	53,134	SH		SOLE		15,122	0	38,012
IMAX CORP	COM	45245E109	244	10,525	SH		SOLE		3,750	0	6,775
INDEPENDENT BANK MI	COM	453838609	6,577	294,270	SH		SOLE		131,285	0	162,985
INGEVITY CORP	COM	45688C107	2,018	28,632	SH		SOLE		6,998	0	21,634
INNOVIVA INC	COM	45781M101	1,070	75,440	SH		SOLE		19,659	0	55,781
INOGEN INC	COM	45780L104	3,488	29,290	SH		SOLE		7,626	0	21,664
INTEGRA LIFESCIEN HLDG COM NEW	COM	457985208	2,680	55,992	SH		SOLE		14,609	0	41,383
INTEGRATED DEVICE TECH INC	COM	458118106	2,011	67,641	SH		SOLE		17,656	0	49,985
INTEL CORP	COM	458140100	449	9,721	SH		SOLE		3,671	0	6,050
INTERCONTINENTAL EXCH	COM	45866F104	924	13,100	SH		SOLE		4,107	0	8,993
INTERDIGITAL COMMUNCTN COM	COM	45867G101	1,632	21,429	SH		SOLE		5,593	0	15,836
INTERNATIONAL BNCSHRS COM	COM	459044103	15,333	386,210	SH		SOLE		105,183	0	281,027
ITRON INC	COM	465741106	14,045	205,941	SH		SOLE		56,086	0	149,855
ITT INC	COM	45073V108	608	11,400	SH		SOLE		4,730	0	6,670
IXYS CORP	COM	46600W106	7,477	312,191	SH		SOLE		84,979	0	227,212
JABIL INC	COM	466313103	6,585	250,850	SH		SOLE		196,750	0	54,100
JANUS HENDERSON GROUP PLC	COM	G4474Y214	1,631	42,622	SH		SOLE		11,063	0	31,559
JOHN BEAN TECHNOLOGIES CORP	COM	477839104	3,860	34,841	SH		SOLE		8,937	0	25,904
JOHNSON & JOHNSON	COM	478160104	33,019	236,320	SH		SOLE		183,020	0	53,300
JPMORGAN CHASE	COM	46625H100	38,121	356,470	SH		SOLE		274,185	0	82,285
KB HOME	COM	48666K109	21,795	682,170	SH		SOLE		185,785	0	496,385
KENNAMETAL INC	COM	489170100	1,591	32,865	SH		SOLE		8,587	0	24,278
KEYCORP	COM	493267108	8,871	439,830	SH		SOLE		345,555	0	94,275
KIMBALL ELECTRONICS	COM	49428J109	3,662	200,661	SH		SOLE		87,611	0	113,050
KINGSTONE COMPANIES INC	COM	496719105	6,541	347,950	SH		SOLE		145,625	0	202,325
KIRKLANDS INC COM	COM	497498105	6,201	518,220	SH		SOLE		230,625	0	287,595
KLA-TENCOR CORPORATION	COM	482480100	213	2,028	SH		SOLE		0	0	2,028
KNOLL INC	COM	498904200	1,320	57,298	SH		SOLE		14,960	0	42,338
KORN FERRY INTL COM NEW	COM	500643200	11,179	270,146	SH		SOLE		73,572	0	196,574
KRATON CORP	COM	50077C106	11,453	237,769	SH		SOLE		64,755	0	173,014
KULICKE & SOFFA INDS COM	COM	501242101	8,664	356,035	SH		SOLE		96,964	0	259,071
LAKELAND BANCORP INC COM	COM	511637100	6,011	312,265	SH		SOLE		138,940	0	173,325
LAM RESEARCH CORP	COM	512807108	14,748	80,120	SH		SOLE		61,080	0	19,040
LANDEC CORP	COM	514766104	5,309	421,365	SH		SOLE		174,565	0	246,800
LEAR CORP	COM	521865204	15,514	87,820	SH		SOLE		68,915	0	18,905
LITTELFUSE INC	COM	537008104	3,240	16,376	SH		SOLE		4,198	0	12,178
LKQ CORP	COM	501889208	534	13,123	SH		SOLE		0	0	13,123
LOCKHEED MARTIN CORP	COM	539830109	246	767	SH		SOLE		767	0	0
LYONDELLBASELL INDU-CL A	COM	N53745100	12,057	109,295	SH		SOLE		85,705	0	23,590
M/I HOMES INC COM	COM	55305B101	9,847	286,240	SH		SOLE		85,465	0	200,775
MAINSOURCE FINANCIAL	COM	56062Y102	5,207	143,400	SH		SOLE		59,770	0	83,630
MARATHON PETROLEUM CORP	COM	56585A102	14,913	226,024	SH		SOLE		173,789	0	52,235
MARINEMAX INC COM	COM	567908108	2,537	134,215	SH		SOLE		60,300	0	73,915
MARKETAXXESS HLDGS INC COM	COM	57060D108	1,672	8,286	SH		SOLE		1,978	0	6,308
MARTEN TRANS LTD	COM	573075108	7,357	362,427	SH		SOLE		151,974	0	210,453
MATRIX SVC CO	COM	576853105	285	15,985	SH		SOLE		6,865	0	9,120
MATTHEWS INTL CORP CL A	COM	577128101	7,508	142,197	SH		SOLE		38,726	0	103,471
MEDIDATA SOLUTIONS INC	COM	58471A105	2,317	36,560	SH		SOLE		9,383	0	27,177
MELLANOX TECHNOLOGIES LTD	COM	M51363113	1,740	26,893	SH		SOLE		7,017	0	19,876
MERCER INTL INC	COM	588056101	4,667	326,363	SH		SOLE		88,882	0	237,481
MEREDITH CORP	COM	589433101	19,575	296,369	SH		SOLE		81,797	0	214,572
META FINANCIAL GROUP	COM	59100U108	8,761	94,555	SH		SOLE		41,610	0	52,945
MICROCHIP TECHNOLOGY INC	COM	595017104	375	4,263	SH		SOLE		1,612	0	2,651
MICROSOFT CORP	COM	594918104	398	4,647	SH		SOLE		4,647	0	0
MIDDLEBY CORP COM	COM	596278101	1,276	9,458	SH		SOLE		2,596	0	6,862
MITEL NETWORKS CORP	COM	60671Q104	362	44,015	SH		SOLE		19,050	0	24,965
MOHAWK INDUSTRIES	COM	608190104	228	828	SH		SOLE		0	0	828
MONOLITHIC POWER SYSTEMS	COM	609839105	2,340	20,822	SH		SOLE		5,283	0	15,539
MOTORCAR PARTS OF AMERICA	COM	620071100	6,360	254,515	SH		SOLE		113,325	0	141,190
MOVADO GROUP INC COM	COM	624580106	4,846	150,505	SH		SOLE		40,989	0	109,516
MYRIAD GENETICS INC	COM	62855J104	334	9,725	SH		SOLE		3,225	0	6,500
NAVIGANT CONSULTING INC	COM	63935N107	4,331	223,129	SH		SOLE		60,767	0	162,362
NELNET INC CL A	COM	64031N108	7,571	138,206	SH		SOLE		37,640	0	100,566
NEOGEN CORP	COM	640491106	2,876	34,980	SH		SOLE		8,902	0	26,078
NETGEAR INC	COM	64111Q104	4,427	75,355	SH		SOLE		20,522	0	54,833
NEW YORK AND COMPANY INC	COM	649295102	1,344	470,000	SH		SOLE		205,550	0	264,450
NEWPARK RESOURCES INC	COM	651718504	3,329	387,135	SH		SOLE		172,885	0	214,250
NORTHEAST BANCORP COM	COM	663904209	1,729	74,675	SH		SOLE		31,215	0	43,460
NORTHRIM BANCORP INC	COM	666762109	2,011	59,415	SH		SOLE		24,915	0	34,500
NORTHWEST PIPE CO COM	COM	667746101	4,988	260,625	SH		SOLE		106,675	0	153,950
NUCOR CORP	COM	670346105	7,636	120,105	SH		SOLE		94,225	0	25,880
OCEANEERING INTL INC	COM	675232102	380	17,985	SH		SOLE		7,125	0	10,860
OLD NATIONAL BANCORP	COM	680033107	21,098	1,209,050	SH		SOLE		333,716	0	875,334
OLYMPIC STEEL INC COM	COM	68162K106	5,925	275,690	SH		SOLE		120,640	0	155,050
OMNICELL INC	COM	68213N109	1,959	40,394	SH		SOLE		10,497	0	29,897
ONE GAS INC	COM	68235P108	203	2,775	SH		SOLE		1,000	0	1,775
OPUS BANK	COM	684000102	7,309	267,740	SH		SOLE		118,965	0	148,775
ORION GROUP HLDGS	COM	68628V308	6,482	827,873	SH		SOLE		371,706	0	456,167
OWENS-ILLINOIS INC	COM	690768403	16,073	724,981	SH		SOLE		190,324	0	534,657
OWENS & MINOR INC NEW COM	COM	690732102	6,587	348,874	SH		SOLE		95,013	0	253,861
OWENS CORNING	COM	690742101	210	2,283	SH		SOLE		674	0	1,609
PACIFIC ETHANOL INC COM	COM	69423U305	4,051	890,370	SH		SOLE		366,145	0	524,225
PAN AMERICAN SILVER CORP	COM	697900108	7,760	498,713	SH		SOLE		135,821	0	362,892
PAPA JOHN'S INTL INC	COM	698813102	837	14,918	SH		SOLE		3,894	0	11,024
PARK OHIO HLDGS CORP COM	COM	700666100	3,739	81,379	SH		SOLE		22,160	0	59,219
PAYPAL INC COM	COM	70450Y103	273	3,707	SH		SOLE		3,707	0	0
PENTAIR PLC	COM	G7S00T104	16,983	240,480	SH		SOLE		182,810	0	57,670
PEOPLES BANCORP INC	COM	709789101	7,144	219,010	SH		SOLE		91,095	0	127,915
PERRY ELLIS	COM	288853104	2,975	118,795	SH		SOLE		55,270	0	63,525
PFIZER INC	COM	717081103	14,678	405,250	SH		SOLE		317,825	0	87,425
PHIBRO ANIMAL HEALTH A	COM	71742Q106	2,124	63,408	SH		SOLE		16,555	0	46,853
PHOTRONICS	COM	719405102	3,910	458,650	SH		SOLE		208,475	0	250,175
PLANTRONICS	COM	727493108	13,427	266,520	SH		SOLE		72,585	0	193,935
PLEXUS CORP	COM	729132100	358	5,900	SH		SOLE		2,150	0	3,750
PNC FINANCIAL SERVICES GROUP	COM	693475105	10,460	72,490	SH		SOLE		56,845	0	15,645
POLA POWER INC	COM	73102V105	932	186,040	SH		SOLE		77,185	0	108,855
PORTLAND GENERAL ELECTRIC	COM	736508847	11,924	261,604	SH		SOLE		75,924	0	185,680
PPL CORPORATION	COM	69351T106	9,461	305,678	SH		SOLE		232,543	0	73,135
PROOFPOINT INC	COM	743424103	282	3,174	SH		SOLE		0	0	3,174
PROSPERITY BANCSHARES	COM	743606105	7,311	104,342	SH		SOLE		38,325	0	66,017
PRUDENTIAL FINANCIAL	COM	744320102	16,938	147,310	SH		SOLE		115,505	0	31,805
PUBLIC SERVICE ENTERPRISE GP	COM	744573106	7,048	136,860	SH		SOLE		107,345	0	29,515
QUALITY SYS INC COM	COM	747582104	3,967	292,105	SH		SOLE		79,553	0	212,552
RAMACO RESOURCES INC	COM	75134P303	2,500	363,325	SH		SOLE		150,725	0	212,600
RCI HOSPITALITY	COM	74934Q108	2,717	97,095	SH		SOLE		40,545	0	56,550
REALPAGE INC	COM	75606N109	2,747	62,014	SH		SOLE		16,162	0	45,852
REGAL-BELOIT CORP	COM	758750103	13,682	178,613	SH		SOLE		47,327	0	131,286
RING ENERGY INC	COM	76680V108	5,281	379,957	SH		SOLE		168,812	0	211,145
ROCKWELL AUTOMATION	COM	773903109	221	1,125	SH		SOLE		0	0	1,125
ROCKWELL COLLINS INC	COM	774341101	363	2,673	SH		SOLE		1,336	0	1,337
RTI SURGICAL INC	COM	74975N105	4,542	1,107,745	SH		SOLE		494,555	0	613,190
RUDOLPH TECHNOLOGIES	COM	781270103	6,016	251,713	SH		SOLE		96,257	0	155,456
RUTHS HOSPITALITY GROUP	COM	783332109	1,812	83,679	SH		SOLE		21,805	0	61,874
SANMINA SCI CORP	COM	801056102	17,536	531,389	SH		SOLE		144,720	0	386,669
SCANSOURCE INC COM	COM	806037107	3,998	111,680	SH		SOLE		30,415	0	81,265
SCHULMAN A INC COM	COM	808194104	7,614	204,404	SH		SOLE		55,225	0	149,179
SCIENCE APPLICATIONS INTL	COM	808625107	9,284	121,250	SH		SOLE		33,016	0	88,234
SELECT MEDICAL HOLDINGS	COM	81619Q105	11,803	668,723	SH		SOLE		182,123	0	486,600
SHOE CARNIVAL INC COM	COM	824889109	4,694	175,475	SH		SOLE		73,350	0	102,125
SI FINANCIAL GROUP	COM	78425V104	1,915	130,270	SH		SOLE		55,825	0	74,445
SIERRA BANCORP COM	COM	82620P102	4,604	173,340	SH		SOLE		77,375	0	95,965
SILICOM LTD	COM	M84116108	7,562	107,855	SH		SOLE		47,330	0	60,525
SIRIUS XM HOLDINGS	COM	82968B103	130	24,344	SH		SOLE		0	0	24,344
SNAP-ON INC	COM	833034101	662	3,797	SH		SOLE		727	0	3,070
SOUTHERN NATL BANCORP OF VA	COM	843395104	2,915	181,875	SH		SOLE		82,560	0	99,315
SPARTANNASH	COM	847215100	5,083	190,522	SH		SOLE		51,887	0	138,635
SPOK HOLDINGS	COM	84863T106	4,475	285,945	SH		SOLE		130,190	0	155,755
SRC ENERGY INC	COM	78470V108	240	28,155	SH		SOLE		12,200	0	15,955
STATE STREET CORP	COM	857477103	9,148	93,720	SH		SOLE		73,485	0	20,235
STEPAN CO COM	COM	858586100	8,797	111,403	SH		SOLE		30,340	0	81,063
STERLING CONSTRUCTION	COM	859241101	6,053	371,830	SH		SOLE		164,005	0	207,825
SUMMIT MATERIALS A	COM	86614U100	2,379	75,677	SH		SOLE		18,820	0	56,857
SUPER MICRO COMPUTER	COM	86800U104	309	14,780	SH		SOLE		6,250	0	8,530
SURMODICS INC COM	COM	868873100	2,387	85,250	SH		SOLE		36,075	0	49,175
SYKES ENTERPRISES INC	COM	871237103	5,872	186,710	SH		SOLE		49,747	0	136,963
SYNAPTICS INC COM	COM	87157D109	316	7,905	SH		SOLE		3,340	0	4,565
SYSCO CORP	COM	871829107	11,779	193,965	SH		SOLE		152,115	0	41,850
TARGET CORP	COM	87612E106	12,164	186,420	SH		SOLE		146,230	0	40,190
TCF FINANCIAL CORP	COM	872275102	17,454	851,396	SH		SOLE		231,871	0	619,525
TECH DATA CORP	COM	878237106	12,855	131,216	SH		SOLE		34,499	0	96,717
TENNECO INC	COM	880349105	1,448	24,728	SH		SOLE		6,196	0	18,532
TERRITORIAL BANCORP INC	COM	88145X108	4,728	153,170	SH		SOLE		69,370	0	83,800
TUTOR PERINI CORP	COM	901109108	11,184	441,165	SH		SOLE		120,149	0	321,016
TYLER TECHNOLOGIES INC COM	COM	902252105	2,118	11,963	SH		SOLE		3,154	0	8,809
TYSON FOODS A	COM	902494103	18,841	232,401	SH		SOLE		178,676	0	53,725
UBIQUITI NETWORKS INC	COM	90347A100	1,883	26,515	SH		SOLE		6,907	0	19,608
ULTA BEAUTY INC	COM	90384S303	409	1,829	SH		SOLE		438	0	1,391
ULTIMATE SOFTWARE GROUP INC	COM	90385D107	2,285	10,469	SH		SOLE		2,463	0	8,006
UMPQUA HLDGS CORP COM	COM	904214103	11,234	540,107	SH		SOLE		155,471	0	384,636
UNION PACFIC CORP	COM	907818108	8,118	60,535	SH		SOLE		47,495	0	13,040
UNITED CMNTY FINL OHIO COM	COM	909839102	5,556	608,525	SH		SOLE		255,000	0	353,525
UNITED HEALTH GROUP	COM	91324P102	689	3,126	SH		SOLE		1,501	0	1,625
UNITED INSURANCE HOLDINGS	COM	910710102	5,662	328,255	SH		SOLE		147,600	0	180,655
UNITED TECHNOLOGIES CORP	COM	913017109	7,229	56,665	SH		SOLE		44,455	0	12,210
UNITIL CORP	COM	913259107	6,355	139,295	SH		SOLE		61,790	0	77,505
UNIVERSAL FST PRODS COM	COM	913543104	11,288	300,066	SH		SOLE		81,720	0	218,346
UNIVERSAL STAINLESS	COM	913837100	5,611	261,950	SH		SOLE		120,205	0	141,745
UNUM GROUP	COM	91529Y106	14,990	273,089	SH		SOLE		214,404	0	58,685
VAIL RESORTS INC	COM	91879Q109	204	961	SH		SOLE		0	0	961
VALMONT INDUSTRIES	COM	920253101	2,181	13,148	SH		SOLE		3,434	0	9,714
VANDA PHARMACEUTICALS INC	COM	921659108	1,173	77,160	SH		SOLE		20,150	0	57,010
VAREX IMAGING CORP	COM	92214X106	553	13,755	SH		SOLE		5,875	0	7,880
VEEVA SYSTEMS INC A	COM	922475108	1,576	28,503	SH		SOLE		7,436	0	21,067
VERIZON COMM INC	COM	92343V104	16,375	309,365	SH		SOLE		242,605	0	66,760
VISA INC A	COM	92826C839	911	7,986	SH		SOLE		3,661	0	4,325
VISHAY INTERTECHNOLOGY INC	COM	928298108	19,877	957,941	SH		SOLE		261,423	0	696,518
VOCERA COMMUNICATIONS INC	COM	92857F107	1,996	66,063	SH		SOLE		17,249	0	48,814
WASHINGTON FEDERAL INC	COM	938824109	22,907	668,815	SH		SOLE		182,148	0	486,667
WASHINGTON TRUST BANCORP	COM	940610108	4,164	78,195	SH		SOLE		32,730	0	45,465
WATERSTONE FINANCIAL INC	COM	94188P101	3,188	187,000	SH		SOLE		78,225	0	108,775
WELBILT INC	COM	949090104	1,580	67,185	SH		SOLE		17,542	0	49,643
WESBANCO INC COM	COM	950810101	7,804	191,992	SH		SOLE		52,288	0	139,704
WESTERN ALLIANCE BANCORP	COM	957638109	2,610	46,102	SH		SOLE		10,917	0	35,185
WESTERN DIGITAL CORP	COM	958102105	10,161	127,760	SH		SOLE		100,205	0	27,555
WILEY JOHN & SONS INC CL A	COM	968223206	8,775	133,455	SH		SOLE		36,346	0	97,109
WINGSTOP INC	COM	974155103	1,954	50,126	SH		SOLE		13,074	0	37,052
WINTRUST FINL CORP COM	COM	97650W108	21,497	260,986	SH		SOLE		73,801	0	187,185
XPERI CORP	COM	98421B100	296	12,120	SH		SOLE		5,080	0	7,040
ZOETIS INC	COM	98978V103	727	10,097	SH		SOLE		2,687	0	7,410
BP PLC ADR	ADR	055622104	27,781	660,980	SH		SOLE		511,100	0	149,880
CHIPMOS TECHNOLOGIES A	ADR	16965P103	2,853	161,655	SH		SOLE		44,025	0	117,630
GLAXOSMITHKLINE PLC-SPON ADR	ADR	37733W105	6,683	188,410	SH		SOLE		147,780	0	40,630