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 379 13,527 SH   SOLE 13,527 0 0
ADVANCED ENERGY INDS COM 007973100 751 10,955 SH   SOLE 10,955 0 0
ALJ REGIONAL HLDGS INC COM 001627108 116 31,247 SH   SOLE 31,247 0 0
APOGEE ENTERPRISES INC COM 037598109 3,343 56,080 SH   SOLE 56,080 0 0
APPLIED OPTOELECTRONICS INC COM 03823U102 1,315 23,425 SH   SOLE 23,425 0 0
ARRIS INTL INC SHS G0551A103 2,572 97,257 SH   SOLE 97,257 0 0
ATLANTIC COAST FINL CORP COM 048426100 113 14,839 SH   SOLE 14,839 0 0
ATWOOD OCEANICS INC COM 050095108 433 45,390 SH   SOLE 45,390 0 0
BANK COMM HLDGS COM 06424J103 138 12,902 SH   SOLE 12,902 0 0
BRUNSWICK CORP COM 117043109 743 12,140 SH   SOLE 12,140 0 0
CAMBREX CORP COM 132011107 1,000 18,165 SH   SOLE 18,165 0 0
CENTRAL EUROPEAN MEDIA ENTRP CL A NEW G20045202 36 11,660 SH   SOLE 11,660 0 0
CENTURY BANCORP INC MASS CL A NON VTG 156432106 285 4,690 SH   SOLE 4,690 0 0
CIRRUS LOGIC INC COM 172755100 1,508 24,840 SH   SOLE 24,840 0 0
COMMUNITY WEST BANCSHARES COM 204157101 116 11,338 SH   SOLE 11,338 0 0
CONVERGYS CORP COM 212485106 1,320 62,395 SH   SOLE 62,395 0 0
COOPER STD HLDGS INC COM 21676P103 1,774 15,995 SH   SOLE 15,995 0 0
CRAWFORD & CO CL B 224633107 123 12,216 SH   SOLE 12,216 0 0
DELTA APPAREL INC COM 247368103 1,032 58,557 SH   SOLE 58,557 0 0
DELUXE CORP COM 248019101 1,305 18,076 SH   SOLE 18,076 0 0
DNB FINL CORP COM 233237106 235 6,926 SH   SOLE 6,926 0 0
EASTERN CO COM 276317104 353 16,460 SH   SOLE 16,460 0 0
EMC INS GROUP INC COM 268664109 201 7,169 SH   SOLE 7,169 0 0
EPLUS INC COM 294268107 3,502 25,930 SH   SOLE 25,930 0 0
EVOLVING SYS INC COM NEW 30049R209 2,270 468,020 SH   SOLE 468,020 0 0
FIRST GTY BANCSHARES INC COM 32043P106 208 8,581 SH   SOLE 8,581 0 0
FIRST SAVINGS FINL GROUP INC COM 33621E109 299 6,127 SH   SOLE 6,127 0 0
FIRST SOUTH BANCORP INC VA COM 33646W100 138 11,416 SH   SOLE 11,416 0 0
FIRST UTD CORP COM 33741H107 291 20,086 SH   SOLE 20,086 0 0
FS BANCORP INC COM 30263Y104 412 11,028 SH   SOLE 11,028 0 0
GREEN BRICK PARTNERS INC COM 392709101 119 11,955 SH   SOLE 11,955 0 0
GUARANTY FED BANCSHARES INC COM 40108P101 295 15,490 SH   SOLE 15,490 0 0
GULF ISLAND FABRICATION INC COM 402307102 663 57,363 SH   SOLE 57,363 0 0
HEARTLAND FINL USA INC COM 42234Q102 441 8,830 SH   SOLE 8,830 0 0
HENNESSY ADVISORS INC COM 425885100 843 50,165 SH   SOLE 50,165 0 0
HMN FINL INC COM 40424G108 321 17,782 SH   SOLE 17,782 0 0
HOOKER FURNITURE CORP COM 439038100 672 21,630 SH   SOLE 21,630 0 0
HORNBECK OFFSHORE SVCS INC N COM 440543106 54 12,200 SH   SOLE 12,200 0 0
INVESTAR HLDG CORP COM 46134L105 227 10,383 SH   SOLE 10,383 0 0
JMP GROUP LLC COM 46629U107 97 16,042 SH   SOLE 16,042 0 0
KNOLL INC COM NEW 498904200 2,071 86,989 SH   SOLE 86,989 0 0
LANNET INC COM 516012101 4,335 193,960 SH   SOLE 193,960 0 0
LGI HOMES INC COM 50187T106 2,347 69,220 SH   SOLE 69,220 0 0
MATRIX SVC CO COM 576853105 1,341 81,295 SH   SOLE 81,295 0 0
MAUI LD & PINEAPPLE INC COM 577345101 135 11,517 SH   SOLE 11,517 0 0
MEDLEY MGMT INC CL A COM 58503T106 103 12,466 SH   SOLE 12,466 0 0
MID PENN BANCORP INC COM 59540G107 391 14,341 SH   SOLE 14,341 0 0
MILLER INDS INC TENN COM NEW 600551204 1,493 56,667 SH   SOLE 56,667 0 0
PC CONNECTION INC COM 69318J100 3,069 103,015 SH   SOLE 103,015 0 0
RICHMONT MINES INC COM 76547T106 5,790 815,520 SH   SOLE 815,520 0 0
SALEM MEDIA GROUP INC CL A 794093104 154 20,634 SH   SOLE 20,634 0 0
SANMINA CORPORATION COM 801056102 694 17,105 SH   SOLE 17,105 0 0
SECURITY NATL FINL CORP CL A NEW 814785309 116 17,102 SH   SOLE 17,102 0 0
SPIRIT AEROSYSTEMS HLDGS INC COM CL A 848574109 650 11,225 SH   SOLE 11,225 0 0
SYNNEX CORP COM 87162W100 2,560 22,870 SH   SOLE 22,870 0 0
TCF FINL CORP COM 872275102 1,415 83,135 SH   SOLE 83,135 0 0
THOR INDS INC COM 885160101 2,461 25,605 SH   SOLE 25,605 0 0
TOWER INTL INC COM 891826109 1,455 53,706 SH   SOLE 53,706 0 0
TRUEBLUE INC COM 89785X101 762 27,844 SH   SOLE 27,844 0 0
UNITED SECURITY BANCSHARES C COM 911460103 136 18,601 SH   SOLE 18,601 0 0