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 314 13,416 SH   SOLE 13,416 0 0
ADVANCED ENERGY INDS COM 007973100 1,987 29,440 SH   SOLE 29,440 0 0
ALAMOS GOLD INC NEW COM CL A 011532108 1,800 276,542 SH   SOLE 276,542 0 0
ALJ REGIONAL HLDGS INC COM 001627108 104 33,032 SH   SOLE 33,032 0 0
APOGEE ENTERPRISES INC COM 037598109 3,326 72,740 SH   SOLE 72,740 0 0
ARK RESTAURANTS CORP COM 040712101 225 8,309 SH   SOLE 8,309 0 0
ARRIS INTL INC SHS G0551A103 3,084 120,057 SH   SOLE 120,057 0 0
BRUNSWICK CORP COM 117043109 1,785 32,323 SH   SOLE 32,323 0 0
CAMBREX CORP COM 132011107 1,667 34,730 SH   SOLE 34,730 0 0
CB FINL SVCS INC COM 12479G101 207 6,909 SH   SOLE 6,909 0 0
CIRRUS LOGIC INC COM 172755100 1,895 36,535 SH   SOLE 36,535 0 0
COMMUNITY WEST BANCSHARES COM 204157101 290 27,262 SH   SOLE 27,262 0 0
COMPX INTERNATIONAL INC CL A 20563P101 173 12,996 SH   SOLE 12,996 0 0
CONVERGYS CORP COM 212485106 663 28,207 SH   SOLE 28,207 0 0
CRAWFORD & CO CL B 224633107 118 12,297 SH   SOLE 12,297 0 0
CUSTOMERS BANCORP INC COM 23204G100 2,887 111,090 SH   SOLE 111,090 0 0
DELUXE CORP COM 248019101 1,599 20,810 SH   SOLE 20,810 0 0
DOVER MOTORSPORTS INC COM 260174107 85 43,610 SH   SOLE 43,610 0 0
EMC INS GROUP INC COM 268664109 204 7,113 SH   SOLE 7,113 0 0
EVOLVING SYS INC COM NEW 30049R209 2,463 524,104 SH   SOLE 524,104 0 0
FIRST SAVINGS FINL GROUP INC COM 33621E109 350 6,146 SH   SOLE 6,146 0 0
FIRST UTD CORP COM 33741H107 315 18,119 SH   SOLE 18,119 0 0
FONAR CORP COM NEW 344437405 1,153 47,360 SH   SOLE 47,360 0 0
GOLDFIELD CORP COM 381370105 280 57,213 SH   SOLE 57,213 0 0
GREEN BRICK PARTNERS INC COM 392709101 133 11,793 SH   SOLE 11,793 0 0
GUARANTY FED BANCSHARES INC COM 40108P101 346 15,423 SH   SOLE 15,423 0 0
HALLMARK FINL SVCS INC EC COM NEW 40624Q203 185 17,715 SH   SOLE 17,715 0 0
HAWAIIAN HOLDINGS INC COM 419879101 2,056 51,595 SH   SOLE 51,595 0 0
HAWTHORN BANCSHARES INC COM 420476103 219 10,567 SH   SOLE 10,567 0 0
HELEN OF TROY CORP LTD COM G4388N106 2,503 25,975 SH   SOLE 25,975 0 0
HENNESSY ADVISORS INC COM 425885100 1,649 99,710 SH   SOLE 99,710 0 0
HMN FINL INC COM 40424G108 338 17,680 SH   SOLE 17,680 0 0
HOOKER FURNITURE CORP COM 439038100 848 19,969 SH   SOLE 19,969 0 0
INSIGHT ENTERPRISES INC COM 45765U103 1,452 37,910 SH   SOLE 37,910 0 0
LANNET INC COM 516012101 2,123 91,505 SH   SOLE 91,505 0 0
LGI HOMES INC COM 50187T106 1,761 23,465 SH   SOLE 23,465 0 0
LOUISIANA PAC CORP COM 546347105 720 27,410 SH   SOLE 27,410 0 0
M/I HOMES INC COM 55305B101 3,457 100,480 SH   SOLE 100,480 0 0
MACKINAC FINL CORP COM 554571109 340 21,401 SH   SOLE 21,401 0 0
MARCHEX INC CL B 56624R108 211 65,396 SH   SOLE 65,396 0 0
MCBC HLDGS INC COM 55276F107 696 31,340 SH   SOLE 31,340 0 0
MICHAELS COS INC COM 59408Q106 1,805 74,610 SH   SOLE 74,610 0 0
MID PENN BANCORP INC COM 59540G107 474 14,334 SH   SOLE 14,334 0 0
NL INDS INC COM NEW 629156407 154 10,818 SH   SOLE 10,818 0 0
OAK VALLEY BANCORP OAKDALE C COM 671807105 279 14,275 SH   SOLE 14,275 0 0
OIL DRI CORP AMER COM 677864100 345 8,318 SH   SOLE 8,318 0 0
PDL BIOPHARMA INC COM 69329Y104 38 13,982 SH   SOLE 13,982 0 0
PLUMAS BANCORP COM 729273102 1,533 66,075 SH   SOLE 66,075 0 0
SANMINA CORPORATION COM 801056102 2,296 69,580 SH   SOLE 69,580 0 0
SB FINL GROUP INC COM 78408D105 942 50,967 SH   SOLE 50,967 0 0
SECURITY NATL FINL CORP CL A NEW 814785309 227 43,258 SH   SOLE 43,258 0 0
SELECT BANCORP INC NEW COM 81617L108 157 12,396 SH   SOLE 12,396 0 0
SILVERBOW RES INC COM 82836G102 1,051 35,369 SH   SOLE 35,369 0 0
SOUND FINL BANCORP INC COM 83607A100 251 7,375 SH   SOLE 7,375 0 0
SPARTANNASH CO COM 847215100 449 16,815 SH   SOLE 16,815 0 0
SPIRIT AEROSYSTEMS HLDGS INC COM CL A 848574109 541 6,195 SH   SOLE 6,195 0 0
SYNNEX CORP COM 87162W100 3,478 25,585 SH   SOLE 25,585 0 0
TANDY LEATHER FACTORY INC COM 87538X105 150 19,391 SH   SOLE 19,391 0 0
THOR INDS INC COM 885160101 1,796 11,915 SH   SOLE 11,915 0 0
TOWER INTL INC COM 891826109 1,672 54,718 SH   SOLE 54,718 0 0
TRANSCAT INC COM 893529107 205 14,395 SH   SOLE 14,395 0 0
TURNING PT BRANDS INC COM 90041L105 513 24,284 SH   SOLE 24,284 0 0
ULTRA CLEAN HLDGS INC COM 90385V107 3,315 143,590 SH   SOLE 143,590 0 0
UNITED GUARDIAN INC COM 910571108 186 10,040 SH   SOLE 10,040 0 0
VIRCO MFG CO COM 927651109 215 42,482 SH   SOLE 42,482 0 0
WAYSIDE TECHNOLOGY GROUP INC COM 946760105 1,260 75,474 SH   SOLE 75,474 0 0