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
ABBVIE INC COM 00287Y109 2,928 32,949 SH   SOLE 0 32,949 0 0
ACME UNITED INC COM 004816104 527 22,933 SH   SOLE 0 22,933 0 0
AECOM TECH CORP. COM 00766T100 922 25,050 SH   SOLE 0 25,050 0 0
ALLERGAN PLC PLC g0177j108 1,616 7,884 SH   SOLE 0 7,884 0 0
AMC NETWORKS INC CL A 00164V103 2,403 41,098 SH   SOLE 0 41,098 0 0
AMDOCS LTD. SHS G02602103 2,467 38,362 SH   SOLE 0 38,362 0 0
ANIXTER INTL COM 035290105 1,737 20,438 SH   SOLE 0 20,438 0 0
APOGEE ENTERPRISES COM 037598109 1,363 28,233 SH   SOLE 0 28,233 0 0
APPLE COM 037833100 5,646 36,636 SH   SOLE 0 36,636 0 0
ARES CAPITAL CORPORATION COM 04010L103 2,456 149,863 SH   SOLE 0 149,863 0 0
ARES COMMERCIAL REAL ESTATE GROUP COM 04013V108 850 63,888 SH   SOLE 0 63,888 0 0
ARGAN COM 04010E109 1,002 14,894 SH   SOLE 0 14,894 0 0
ARROW ELECTRS INC COM COM 042735100 2,600 32,334 SH   SOLE 0 32,334 0 0
BELDEN CDT COM 077454106 2,073 25,736 SH   SOLE 0 25,736 0 0
BERKSHIRE HATHAWAY INC CL B CL B 084670702 5,612 30,613 SH   SOLE 0 30,613 0 0
BRUNSWICK CORP COM 117043109 2,022 36,128 SH   SOLE 0 36,128 0 0
CARNIVAL CORP. UNIT 143658300 2,161 33,473 SH   SOLE 0 33,473 0 0
CBS CL B 124857202 2,057 35,460 SH   SOLE 0 35,460 0 0
CELESTICA INC SHS 15101Q108 2,223 179,594 SH   SOLE 0 179,594 0 0
CENTURY BANCORP CL A 156432106 889 11,101 SH   SOLE 0 11,101 0 0
CHUBB LIMITED COM H1467J104 2,403 16,855 SH   SOLE 0 16,855 0 0
CITIZENS FIRST CORP COM 17462Q107 274 11,475 SH   SOLE 0 11,475 0 0
COHU INC COM COM 192576106 1,145 48,014 SH   SOLE 0 48,014 0 0
COMCAST CL A CL A 20030N101 2,406 62,533 SH   SOLE 0 62,533 0 0
CUSTOMERS BANCORP COM 23204G100 1,747 53,565 SH   SOLE 0 53,565 0 0
D R HORTON INC COM COM 23331A109 2,886 72,272 SH   SOLE 0 72,272 0 0
DAIMLER AG ADR D1668R123 2,592 32,533 SH   SOLE 0 32,533 0 0
DELUXE CORP. COM 248019101 2,649 36,308 SH   SOLE 0 36,308 0 0
DISNEY WALT CO COM COM 254687106 2,253 22,858 SH   SOLE 0 22,858 0 0
EVEREST RE COM G3223R108 2,179 9,540 SH   SOLE 0 9,540 0 0
FABRINET SHS G3323L100 2,300 62,051 SH   SOLE 0 62,051 0 0
FEDEX CORP COM 31428X106 2,825 12,525 SH   SOLE 0 12,525 0 0
FREEPORT MCMORAN CL B 35671D857 1,896 135,045 SH   SOLE 0 135,045 0 0
GOLDMAN SACHS COM 38141G104 2,620 11,048 SH   SOLE 0 11,048 0 0
GRAY TELEVISION INC COM 389375106 550 35,030 SH   SOLE 0 35,030 0 0
HOOKER FURNITURE CORP COM 439038100 1,299 27,211 SH   SOLE 0 27,211 0 0
ICHOR HOLDINGS SHS G4740B105 2,745 102,411 SH   SOLE 0 102,411 0 0
INTEL CORP COM COM 458140100 2,585 67,893 SH   SOLE 0 67,893 0 0
INTERPUBLIC GROUP COM 460690100 2,095 100,768 SH   SOLE 0 100,768 0 0
JOHNSON CTLS INC SHS G51502105 946 23,469 SH   SOLE 0 23,469 0 0
KLA-TENCOR CORP COM COM 482480100 355 3,350 SH   SOLE 0 3,350 0 0
LABORATORY CORP. OF AMERICA COM 50540R409 2,310 15,300 SH   SOLE 0 15,300 0 0
LAM RESEARCH CORP COM 512807108 3,041 16,435 SH   SOLE 0 16,435 0 0
LENNAR CORP COM CL A 526057104 2,418 45,798 SH   SOLE 0 45,798 0 0
LIBERTY GLOBAL PLC CL A CL A G5480U104 439 12,935 SH   SOLE 0 12,935 0 0
LIBERTY GLOBAL PLC CL C CL C G5480U120 1,523 46,582 SH   SOLE 0 46,582 0 0
LYONDELLBASELL INDUSTRIES SHS A N53745100 1,825 18,429 SH   SOLE 0 18,429 0 0
M/I HOMES INC COM 55305B101 2,047 76,598 SH   SOLE 0 76,598 0 0
MAGNA INTL INC COM 559222401 2,671 50,046 SH   SOLE 0 50,046 0 0
MICROSEMI CORP COM 595137100 2,655 51,582 SH   SOLE 0 51,582 0 0
MILACRON HOLDINGS CORP COM 59870L106 2,596 154,000 SH   SOLE 0 154,000 0 0
MURPHY OIL CORP COM 626717102 1,913 72,014 SH   SOLE 0 72,014 0 0
NOVA MEASURING INSTRUMENTS LTD COM M7516K103 2,038 72,488 SH   SOLE 0 72,488 0 0
OAK VALLEY BANCORP COM 671807105 307 18,296 SH   SOLE 0 18,296 0 0
OCLARO INC COM 67555N206 2,092 242,410 SH   SOLE 0 242,410 0 0
OMEGA HEALTHCARE INVESTORS INC. COM 681936100 1,886 59,111 SH   SOLE 0 59,111 0 0
OMNICOM GROUP INC COM 681919106 2,285 30,855 SH   SOLE 0 30,855 0 0
ON SEMICONDUCTOR CORP COM 682189105 2,981 161,397 SH   SOLE 0 161,397 0 0
PILGRIMS PRIDE CORP COM 72147K108 2,548 89,689 SH   SOLE 0 89,689 0 0
PVH Corp COM 693656100 1,685 13,367 SH   SOLE 0 13,367 0 0
ROYAL CARIBBEAN CRUISES COM V7780T103 2,439 20,579 SH   SOLE 0 20,579 0 0
ROYAL DUTCH SHELL ADS ADR A 780259206 2,711 44,748 SH   SOLE 0 44,748 0 0
SANMINA SCI CORP COM 801056102 2,474 66,582 SH   SOLE 0 66,582 0 0
SENSATA TECHNOLOGY SHS N7902X106 2,598 54,050 SH   SOLE 0 54,050 0 0
SHIRE PLC ADR 82481R106 2,043 13,340 SH   SOLE 0 13,340 0 0
SINCLAIR BROADCASTING GROUP CL A 829226109 2,590 80,802 SH   SOLE 0 80,802 0 0
SL GREEN REALTY CORP COM 78440X101 750 7,400 SH   SOLE 0 7,400 0 0
SNAP-ON INC COM 833034101 2,428 16,297 SH   SOLE 0 16,297 0 0
STEELCASE INC CL A 858155203 2,009 130,480 SH   SOLE 0 130,480 0 0
STORE CAPITAL CORP COM 862121100 2,275 91,465 SH   SOLE 0 91,465 0 0
TENNECO INC COM 880349105 2,353 38,782 SH   SOLE 0 38,782 0 0
THOR INDUSTRIES INC COM 885160101 3,099 24,611 SH   SOLE 0 24,611 0 0
TOWER INTERNATIONAL COM 891826109 215 7,898 SH   SOLE 0 7,898 0 0
TOWER SEMICONDUCTOR ORD SHS M87915274 2,645 86,019 SH   SOLE 0 86,019 0 0
TOWNSQUARE MEDIA INC CL A 892231101 863 86,277 SH   SOLE 0 86,277 0 0
TRIPLE POINT VENTURE GROWTH COM 89677Y100 2,417 180,382 SH   SOLE 0 180,382 0 0
TYSON FOODS CL A 902494103 2,650 37,620 SH   SOLE 0 37,620 0 0
ULTRA CLEAN HOLDINGS COM 90385V107 2,706 88,381 SH   SOLE 0 88,381 0 0
UNIT CORP COM 909218109 1,671 81,199 SH   SOLE 0 81,199 0 0
UNUM GROUP COM 91529Y106 2,484 48,580 SH   SOLE 0 48,580 0 0
US BANCORP DEL COM COM 902973304 2,594 48,402 SH   SOLE 1 48,402 1 0
WELLS FARGO AND CO COM 949746101 2,377 43,098 SH   SOLE 2 43,098 2 0
WHIRLPOOL CORP COM 963320106 2,348 12,728 SH   SOLE 3 12,728 3 0
WPP PLC ADR 92937A102 2,061 22,213 SH   SOLE 4 22,213 4 0
ZIMMER BIOMET HOLDINGS COM 98956P102 2,526 21,573 SH   SOLE 5 21,573 5 0