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
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
ARCTIC CAT INC COM Common 039670104 9,792 651,928 SH   SOLE   451,600 0 0
ASHFORD HOSPITALITY TRUST INC Common 044103109 11,547 1,488,030 SH   SOLE   1,127,759 0 0
ASTRONOVA INC Common 04638F108 7,864 551,836 SH   SOLE   382,869 0 0
BLUE NILE, INC. Common 09578R103 2,063 50,771 SH   SOLE   39,371 0 0
CASELLA WASTE SYSTEMS INC. Common 147448104 10,166 819,148 SH   SOLE   568,500 0 0
CECO ENVIRONMENTAL CORP Common 125141101 6,031 432,334 SH   SOLE   300,350 0 0
CENTRAL GARDEN AND PET CO - A Common 153527205 11,298 365,616 SH   SOLE   273,105 0 0
COLUMBUS MCKINNON N Y COM Common 199333105 5,214 192,836 SH   SOLE   133,725 0 0
CPI AEROSTRUCTURES INC Common 125919308 3,224 348,560 SH   SOLE   242,699 0 0
DESTINATION XL GROUP, INC Common 25065K104 7,148 1,681,939 SH   SOLE   1,167,835 0 0
DMC GLOBAL INC Common 23291C103 9,730 613,850 SH   SOLE   427,450 0 0
FIRST CONNECTICUT BANCORP, INC. Common 319850103 9,709 428,640 SH   SOLE   298,637 0 0
FRP HOLDINGS INC Common 30292L107 9,625 255,307 SH   SOLE   177,170 0 0
GLOBAL POWER EQUIPMENT GROUP Common 37941P306 2,390 506,433 SH   SOLE   352,878 0 0
GRANITE CONSTRUCTION INC Common 387328107 11,001 200,023 SH   SOLE   154,473 0 0
GREENHILL & CO INC. Common 395259104 24,085 869,500 SH   SOLE   664,400 0 0
HAEMONETICS CORPORATION Common 405024100 20,647 513,619 SH   SOLE   398,919 0 0
HEADWATERS INC. Common 42210P102 10,198 433,568 SH   SOLE   331,856 0 0
HILL INTERNATIONAL INC. Common 431466101 8,049 1,850,238 SH   SOLE   1,289,850 0 0
HOMETRUST BANCSHARES INC Common 437872104 8,170 315,458 SH   SOLE   219,387 0 0
HORIZON GLOBAL CORPORATION Common 44052W104 4,844 201,841 SH   SOLE   140,000 0 0
HOUSTON WIRE & CABLE COMPANY Common 44244K109 9,476 1,457,811 SH   SOLE   1,011,550 0 0
INNERWORKINGS INC Common 45773Y105 16,180 1,642,598 SH   SOLE   1,265,503 0 0
KEY TECHNOLOGY INC Common 493143101 1,063 91,941 SH   SOLE   64,767 0 0
LAYNE CHRISTENSEN COMPANY Common 521050104 15,982 1,470,268 SH   SOLE   1,117,894 0 0
LIBBEY INC Common 529898108 10,094 518,683 SH   SOLE   358,992 0 0
LIBERTY TAX INC Common 53128T102 9,064 676,407 SH   SOLE   469,400 0 0
LMI AEROSPACE Common 502079106 6,005 696,593 SH   SOLE   484,650 0 0
MAIDEN HOLDINGS LTD Common 036419750 23,552 1,349,674 SH   SOLE   1,047,270 0 0
MANITEX INTERNATIONAL INC Common 563420108 9,666 1,409,041 SH   SOLE   977,850 0 0
MANITOWOC COMPANY, INC. Common 563571108 23,602 3,946,754 SH   SOLE   3,060,904 0 0
MARINEMAX INC Common 567908108 8,109 419,073 SH   SOLE   291,548 0 0
MISTRAS GROUP INC. Common 60649T107 21,681 844,268 SH   SOLE   656,673 0 0
NCI BUILDING SYSTEMS INC Common 628852204 20,499 1,309,850 SH   SOLE   1,017,139 0 0
NORTHERN TECHNOLOGIES INTL Common 665809109 3,894 283,206 SH   SOLE   197,750 0 0
PATRIOT TRANSPORTATION HOLDING Common 70338W105 948 43,251 SH   SOLE   30,351 0 0
PLY GEM HOLDINGS INC. Common 72941W100 20,763 1,277,727 SH   SOLE   986,327 0 0
POWELL INDUSTRIES INC Common 739128106 839 21,503 SH   SOLE   16,213 0 0
QAD INC Common 74727D306 9,737 320,283 SH   SOLE   222,096 0 0
QAD INC-B Common 74727D207 25 972 SH   SOLE   672 0 0
REGIS CORP Common 758932107 14,995 1,032,702 SH   SOLE   794,299 0 0
SCHNITZER STEEL INDUSTRIES, INC. Common 806882106 13,902 540,927 SH   SOLE   427,086 0 0
SEAWORLD ENTERTAINMENT, INC. Common 81282V100 10,310 544,624 SH   SOLE   419,524 0 0
SPX FLOW INC. Common 78469X107 21,760 678,741 SH   SOLE   526,991 0 0
STONERIDGE INC. Common 86183P102 5,391 304,739 SH   SOLE   211,674 0 0
TEAM INC Common 878155100 7,897 201,196 SH   SOLE   140,103 0 0
THE CHEFS' WAREHOUSE, INC. Common 163086101 11,095 702,208 SH   SOLE   487,200 0 0
THE CONTAINER STORE GROUP INC Common 210751103 9,505 1,496,881 SH   SOLE   1,038,700 0 0
THERMON GROUP HOLDINGS, INC. Common 88362T103 6,997 366,514 SH   SOLE   285,964 0 0
TITAN MACHINERY, INC. Common 88830R101 7,573 519,750 SH   SOLE   362,050 0 0
TIVITY HEALTH INC Common 88870R102 20,207 888,233 SH   SOLE   689,783 0 0
TOPBUILD CORP Common 89055F103 20,662 580,388 SH   SOLE   450,722 0 0
TWIN DISC, INCORPORATED Common 901476101 225 15,386 SH   SOLE   10,595 0 0
UMH PROPERTIES INC. Common 903002103 11,702 777,527 SH   SOLE   539,227 0 0
UNITED STATES LIME & MINERALS INC Common 911922102 10,252 135,340 SH   SOLE   94,000 0 0
WILLIS LEASE FINANCE CORPORATION Common 970646105 6,277 245,402 SH   SOLE   171,815 0 0