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
ACME UTD CORP COM 004816104 284 11,105 SH   SOLE 11,105 0 0
APOGEE ENTERPRISES INC COM 037598109 3,015 56,300 SH   SOLE 56,300 0 0
ATLANTIC COAST FINL CORP COM 048426100 91 13,415 SH   SOLE 13,415 0 0
ATWOOD OCEANICS INC COM 050095108 586 44,660 SH   SOLE 44,660 0 0
AWARE INC MASS COM 05453N100 130 21,236 SH   SOLE 21,236 0 0
BANK COMM HLDGS COM 06424J103 96 10,139 SH   SOLE 10,139 0 0
CAMBREX CORP COM 132011107 968 17,950 SH   SOLE 17,950 0 0
CENTURY BANCORP INC MASS CL A NON VTG 156432106 233 3,882 SH   SOLE 3,882 0 0
COOPER STD HLDGS INC COM 21676P103 981 9,488 SH   SOLE 9,488 0 0
COOPER TIRE & RUBR CO COM 216831107 1,590 40,935 SH   SOLE 40,935 0 0
DELTA APPAREL INC COM 247368103 1,302 62,823 SH   SOLE 62,823 0 0
DELUXE CORP COM 248019101 1,929 26,931 SH   SOLE 26,931 0 0
EASTERN CO COM 276317104 201 9,616 SH   SOLE 9,616 0 0
EPLUS INC COM 294268107 3,659 31,760 SH   SOLE 31,760 0 0
EVOLVING SYS INC COM NEW 30049R209 1,896 462,450 SH   SOLE 462,450 0 0
FIRST SAVINGS FINL GROUP INC COM 33621E109 241 5,061 SH   SOLE 5,061 0 0
FIRST UTD CORP COM 33741H107 268 16,802 SH   SOLE 16,802 0 0
FS BANCORP INC COM 30263Y104 292 8,129 SH   SOLE 8,129 0 0
GUARANTY FED BANCSHARES INC COM 40108P101 278 13,127 SH   SOLE 13,127 0 0
GULF ISLAND FABRICATION INC COM 402307102 725 60,890 SH   SOLE 60,890 0 0
HEARTLAND FINL USA INC COM 42234Q102 419 8,730 SH   SOLE 8,730 0 0
HELEN OF TROY CORP LTD COM G4388N106 684 8,100 SH   SOLE 8,100 0 0
HMN FINL INC COM 40424G108 264 15,087 SH   SOLE 15,087 0 0
INVESTAR HLDG CORP COM 46134L105 263 14,100 SH   SOLE 14,100 0 0
JMP GROUP LLC COM 46629U107 72 11,689 SH   SOLE 11,689 0 0
KNOLL INC COM NEW 498904200 2,401 85,969 SH   SOLE 85,969 0 0
KORN FERRY INTL COM NEW 500643200 1,050 35,690 SH   SOLE 35,690 0 0
LANNET INC COM 516012101 4,205 190,710 SH   SOLE 190,710 0 0
LGI HOMES INC COM 50187T106 3,821 133,005 SH   SOLE 133,005 0 0
MARCUS & MILLICHAP INC COM 566324109 570 21,348 SH   SOLE 21,348 0 0
MAXLINEAR INC CL A 57776J100 1,251 57,370 SH   SOLE 57,370 0 0
MID PENN BANCORP INC COM 59540G107 295 12,405 SH   SOLE 12,405 0 0
MILLER INDS INC TENN COM NEW 600551204 1,455 54,994 SH   SOLE 54,994 0 0
PB BANCORP INC COM 70454T100 178 17,983 SH   SOLE 17,983 0 0
PC CONNECTION INC COM 69318J100 3,588 127,727 SH   SOLE 127,727 0 0
RICHMONT MINES INC COM 76547T106 5,278 812,020 SH   SOLE 812,020 0 0
ROYAL BANCSHARES PA INC CL A 780081105 289 69,576 SH   SOLE 69,576 0 0
SANDERSON FARMS INC COM 800013104 598 6,345 SH   SOLE 6,345 0 0
SELECT BANCORP INC NEW COM 81617L108 115 11,654 SH   SOLE 11,654 0 0
STEPAN CO COM 858586100 1,269 15,570 SH   SOLE 15,570 0 0
SUPREME INDS INC CL A 868607102 1,843 117,375 SH   SOLE 117,375 0 0
TCF FINL CORP COM 872275102 859 43,865 SH   SOLE 43,865 0 0
THOR INDS INC COM 885160101 1,832 18,315 SH   SOLE 18,315 0 0
TOWER INTL INC COM 891826109 1,504 53,066 SH   SOLE 53,066 0 0
TRUEBLUE INC COM 89785X101 2,545 103,227 SH   SOLE 103,227 0 0
TWO RIV BANCORP COM 90207C105 202 13,511 SH   SOLE 13,511 0 0
UNITED SECURITY BANCSHARES C COM 911460103 122 15,726 SH   SOLE 15,726 0 0
VOLT INFORMATION SCIENCES IN COM 928703107 98 14,336 SH   SOLE 14,336 0 0
WABASH NATL CORP COM 929566107 1,815 114,750 SH   SOLE 114,750 0 0