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
ABBOTT LABS COM 002824100 0 4,360 SH   SOLE 0 4,360 0 0
ABBVIE INC COM 00287Y109 3 36,313 SH   SOLE 0 36,313 0 0
ABM INDS INC COM 000957100 4 129,593 SH   SOLE 0 129,593 0 0
ACADIA REALTY TRUST COM SH BEN INT 004239109 8 336,982 PRN   SOLE 0 336,982 0 0
ACTIVISION INC NEW COM NEW COM 00507V109 0 3,000 SH   SOLE 0 3,000 0 0
AETNA INC NEW COM 00817Y108 0 1,200 SH   SOLE 0 1,200 0 0
ALEXANDRIA REAL ESTATE COM 015271109 3 24,511 SH   SOLE 0 24,511 0 0
ALEXANDRIA REAL ESTATE PFD D PFD CONV SER D 015271505 2 45,426 PRN   SOLE 0 45,426 0 0
ALPHABET INC CL A COM 02079K305 1 954 SH   SOLE 0 954 0 0
AMERICAN EAGLE OUTFITTERS INC COM 02553E106 7 326,214 SH   SOLE 0 326,214 0 0
AMERICAN TOWER CORP COM 03027X100 1 7,153 SH   SOLE 0 7,153 0 0
APPLE COMPUTER INC COM 037833100 1 8,758 SH   SOLE 0 8,758 0 0
ASTEC INDS INC COM 046224101 9 156,576 SH   SOLE 0 156,576 0 0
AT&T INC COM 00206R102 1 23,621 SH   SOLE 0 23,621 0 0
ATLANTIC CAPITAL BANCSHARES INC COM 048269203 0 11,047 SH   SOLE 0 11,047 0 0
ATLAS AIR WORLDWIDE HOLDINGS INC COM 049164205 10 171,436 SH   SOLE 0 171,436 0 0
AVALONBAY COMMUNITIES COM 053484101 3 18,020 SH   SOLE 0 18,020 0 0
B&G FOODS INC COM 05508R106 4 160,570 SH   SOLE 0 160,570 0 0
BANK OF THE OZARKS COM 063904106 0 9,250 SH   SOLE 0 9,250 0 0
BANNER CORP COM 06652V208 16 282,448 SH   SOLE 0 282,448 0 0
BASIC ENERGY SERVICES INC COM 06985P209 4 245,803 SH   SOLE 0 245,803 0 0
BERKSHIRE HATHAWAY CLASS B COM 084670702 0 1,470 SH   SOLE 0 1,470 0 0
BLACK HILLS CORP COM 092113109 5 99,877 SH   SOLE 0 99,877 0 0
BOSTON PROPERTIES INC COM 101121101 2 13,399 SH   SOLE 0 13,399 0 0
BRYN MAWR BK CORP COM 117665109 12 269,852 SH   SOLE 0 269,852 0 0
C&J ENERGY SERVICES INC COM 12674R100 6 232,307 SH   SOLE 0 232,307 0 0
CACI INTERNATIONAL INC CLASS A COM 127190304 9 60,110 SH   SOLE 0 60,110 0 0
CALLON PETE CO DEL COM 13123X102 15 1,128,723 SH   SOLE 0 1,128,723 0 0
CAMDEN PROPERTY TRUST SH BEN INT 133131102 1 12,634 PRN   SOLE 0 12,634 0 0
CAROLINA FINANC COM 143873107 11 284,631 SH   SOLE 0 284,631 0 0
CBIZ INC COM 124805102 15 848,258 SH   SOLE 0 848,258 0 0
CENTERSTATE BANKS INC COM 15201P109 17 630,292 SH   SOLE 0 630,292 0 0
CHATHAM LODGING TRUST COM 16208T102 7 378,505 SH   SOLE 0 378,505 0 0
CHEMBIO DIAGNOSTICS COM 163572209 0 20,000 SH   SOLE 0 20,000 0 0
CHEMICAL FINANCIAL CORPORATION COM 163731102 8 144,919 SH   SOLE 0 144,919 0 0
CHEVRON CORP NEW COM 166764100 1 7,512 SH   SOLE 0 7,512 0 0
CIGNA CORP COM 125509109 1 3,440 SH   SOLE 0 3,440 0 0
CITIGROUP INC COM 172967424 1 7,597 SH   SOLE 0 7,597 0 0
CNO FINANCIAL INC COM 12621E103 20 911,110 SH   SOLE 0 911,110 0 0
COLGATE PALMOLIVE CO COM 194162103 1 7,140 SH   SOLE 0 7,140 0 0
COLUMBUS MCKINNON CORPORATION COM 199333105 7 199,540 SH   SOLE 0 199,540 0 0
CONDUENT INC COM 206787103 6 322,607 SH   SOLE 0 322,607 0 0
CORESITE REALTY CORP COM 21870Q105 7 69,174 SH   SOLE 0 69,174 0 0
CORPORATE OFFICE PPRYS TRUST SH BEN INT 22002T108 1 27,533 PRN   SOLE 0 27,533 0 0
COWEN INC CL A NEW 223622606 1 93,587 PRN   SOLE 0 93,587 0 0
CUBESMART COM 229663109 0 17,600 SH   SOLE 0 17,600 0 0
CVS HEALTH CORP COM 126650100 0 7,860 SH   SOLE 0 7,860 0 0
CYPRESS SEMICONDUCTOR COM 232806109 15 863,686 SH   SOLE 0 863,686 0 0
DELUXE CORP COM 248019101 8 104,709 SH   SOLE 0 104,709 0 0
DIME COMMUNITY BANCSHARES INC COM 253922108 4 240,824 SH   SOLE 0 240,824 0 0
DIPLOMAT PHARMACY INC COM 25456K101 13 627,999 SH   SOLE 0 627,999 0 0
DOVER CORP COM 260003108 1 8,682 SH   SOLE 0 8,682 0 0
DOWDUPONT INC COM 26078J100 0 7,115 SH   SOLE 0 7,115 0 0
DUKE ENERGY CORP COM 26441C204 1 7,700 SH   SOLE 0 7,700 0 0
EAGLE BANCORP INC COM 268948106 5 88,830 SH   SOLE 0 88,830 0 0
EASTGROUP PPTY INC COM 277276101 1 6,365 SH   SOLE 0 6,365 0 0
EATON CORP COM G29183103 1 7,920 SH   SOLE 0 7,920 0 0
EDUCATION RLTY TR INC COM NEW 28140H203 4 127,805 PRN   SOLE 0 127,805 0 0
EMCOR GROUP INC COM 29084Q100 9 116,587 SH   SOLE 0 116,587 0 0
EMERGENT BIO SOLUTIONS INC COM 29089Q105 8 153,106 SH   SOLE 0 153,106 0 0
EMMIS COMMUNICTNS CORP CL A COM 291525400 0 75,078 SH   SOLE 0 75,078 0 0
ENTERCOM COMM CORP CL A COM 293639100 5 516,807 SH   SOLE 0 516,807 0 0
ENTERPRISE FINANCIAL SERVICES COM 293712105 11 226,003 SH   SOLE 0 226,003 0 0
EQUITY LIFESTYLE PPTYS COM 29472R108 2 18,065 SH   SOLE 0 18,065 0 0
ESSEX PPTY TR INC COM 297178105 1 4,121 SH   SOLE 0 4,121 0 0
EXPRESS INC COM 30219E103 5 664,594 SH   SOLE 0 664,594 0 0
EXTRA SPACE STORAGE COM 30225T102 1 11,902 SH   SOLE 0 11,902 0 0
EXXON MOBIL CORP COM 30231G102 1 6,872 SH   SOLE 0 6,872 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 1 4,598 PRN   SOLE 0 4,598 0 0
FERRO CORP COM 315405100 13 576,522 SH   SOLE 0 576,522 0 0
FINISAR CORPORATION COM 31787A507 4 269,007 SH   SOLE 0 269,007 0 0
FIRST AMERICAN FINANCIAL COM 31847R102 14 236,508 SH   SOLE 0 236,508 0 0
FIRST INDUSTRIAL RLTY COM 32054K103 1 18,199 SH   SOLE 0 18,199 0 0
FIRST INTERSTATE BANCSYSTEM COM 32055Y201 10 257,471 SH   SOLE 0 257,471 0 0
FIRST REPUBLIC BANK COM 33616C100 1 9,934 SH   SOLE 0 9,934 0 0
FRIST TR EXCH TRADED FD III INSTL PFD SECS 33739P855 6 283,448 PRN   SOLE 0 283,448 0 0
FNB CORP COM 302520101 9 678,177 SH   SOLE 0 678,177 0 0
FORWARD AIR CORPORATION COM 349853101 5 90,313 SH   SOLE 0 90,313 0 0
FRANKLIN FINANCIAL NETWORK INC COM 35352P104 8 247,492 SH   SOLE 0 247,492 0 0
GALLAGHER ARTHUR J &CO COM 363576109 0 4,520 SH   SOLE 0 4,520 0 0
GENERAL ELEC CO COM 369604103 0 21,739 SH   SOLE 0 21,739 0 0
GGP INC COM 36174X101 0 18,354 SH   SOLE 0 18,354 0 0
GIBRALTAR INDS INC COM 374689107 11 335,795 SH   SOLE 0 335,795 0 0
G-III APPAREL GROUP LTD COM 36237H101 11 287,946 SH   SOLE 0 287,946 0 0
GREEN BANCORP INC COM 39260X100 5 240,521 SH   SOLE 0 240,521 0 0
GUARANTY BANCORP COM 40075T607 6 222,315 SH   SOLE 0 222,315 0 0
CLAYMORE EXCHANGE TRD FD TR GUGG S&P SPINOFF 18383M605 2 33,314 PRN   SOLE 0 33,314 0 0
HB FULLER COMPANY COM 359694106 7 139,609 SH   SOLE 0 139,609 0 0
HALYARD HEALTH INC COM 40650V100 10 212,413 SH   SOLE 0 212,413 0 0
HANNON ARMSTRONG SUST INFR C COM 41068X100 4 218,771 SH   SOLE 0 218,771 0 0
HD SUPPLY HOLDINGS INC COM 40416M105 1 19,070 SH   SOLE 0 19,070 0 0
HEARTLAND FINL USA INC COM 42234Q102 5 97,982 SH   SOLE 0 97,982 0 0
HERITAGE INSURANCE HOLDINGS INC COM 42727J102 7 471,006 SH   SOLE 0 471,006 0 0
HOPE BANCORP INC COM 43940T109 9 508,421 SH   SOLE 0 508,421 0 0
HUDSON PAC PPTYS INC COM 444097109 11 325,464 SH   SOLE 0 325,464 0 0
IBERIABANK CORP COM 450828108 11 136,441 SH   SOLE 0 136,441 0 0
IDACORP INC COM 451107106 10 112,106 SH   SOLE 0 112,106 0 0
INDEPENDENCE REALTY TRUST INC COM 45378A106 10 1,041,030 SH   SOLE 0 1,041,030 0 0
INTEL CORP COM 458140100 1 15,847 SH   SOLE 0 15,847 0 0
INVITATION HOMES INC COM 46187W107 0 10,028 SH   SOLE 0 10,028 0 0
IRON MTN INC NEW COM 46284V101 0 8,374 SH   SOLE 0 8,374 0 0
ISHARES TR Intl Dev RE ETF 464288489 1 27,025 PRN   SOLE 0 27,025 0 0
ISHARES TR Rus 2000 GRW ETF 464287648 0 1,250 PRN   SOLE 0 1,250 0 0
ISHARES TR Rus 2000 VAL ETF 464287630 0 2,560 PRN   SOLE 0 2,560 0 0
ISHARES TR Rus Mid Cap ETF 464287499 0 1,660 PRN   SOLE 0 1,660 0 0
ISHARES TR S&P US PFD STK 464288687 0 10,485 PRN   SOLE 0 10,485 0 0
ISHARES TR US REAL ES ETF 464287739 1 10,823 PRN   SOLE 0 10,823 0 0
JERNIGAN CAP INC COM 476405105 0 24,229 SH   SOLE 0 24,229 0 0
JOHNSON & JOHNSON COM 478160104 2 12,946 SH   SOLE 0 12,946 0 0
JPMORGAN CHASE & CO COM 46625H100 1 10,317 SH   SOLE 0 10,317 0 0
KADANT INC COM 48282T104 15 155,400 SH   SOLE 0 155,400 0 0
KAISER ALUMINUM CORP COM 483007704 8 79,443 SH   SOLE 0 79,443 0 0
KAPSTONE PAPER & PACKAGING CORP COM 48562P103 3 74,178 SH   SOLE 0 74,178 0 0
KILROY REALTY CORP COM 49427F108 1 13,111 SH   SOLE 0 13,111 0 0
KIMCO REALTY CORP COM 49446R109 0 34,199 SH   SOLE 0 34,199 0 0
KMG CHEMICALS INC COM 482564101 5 79,921 SH   SOLE 0 79,921 0 0
LABORATORY CORP OF AMERICA COM 50540R409 0 1,835 SH   SOLE 0 1,835 0 0
LAMB WESTON HOLDINGS COM 513272104 0 6,600 SH   SOLE 0 6,600 0 0
LASALLE HOTEL PROPERTIES COM SH BEN INT 517942108 0 7,200 PRN   SOLE 0 7,200 0 0
LEGACYTEXAS FINANCIAL GROUP INC COM 52471Y106 11 249,854 SH   SOLE 0 249,854 0 0
LOWES COMPANIES INC COM 548661107 0 4,070 SH   SOLE 0 4,070 0 0
MACERICH CO COM 554382101 0 8,257 SH   SOLE 0 8,257 0 0
MAGELLAN MIDSTREAM COM 559080106 0 3,700 SH   SOLE 0 3,700 0 0
MATERION CORP COM 576690101 13 250,113 SH   SOLE 0 250,113 0 0
MICROSOFT CORP COM 594918104 0 5,120 SH   SOLE 0 5,120 0 0
MKS INSTRUMENT INC COM 55306N104 20 173,717 SH   SOLE 0 173,717 0 0
MODINE MANUFACTURING CO COM 607828100 13 600,070 SH   SOLE 0 600,070 0 0
MYR GROUP INC COM 55405W104 6 193,489 SH   SOLE 0 193,489 0 0
NATIONAL STORAGE AFFILIATES TRUST COM SHS BEN IN 637870106 12 466,491 PRN   SOLE 0 466,491 0 0
NCR CORP NEW COM 62886E108 5 156,091 SH   SOLE 0 156,091 0 0
NEW JERSEY RESOURCES CORPORATION COM 646025106 5 130,936 SH   SOLE 0 130,936 0 0
NEXSTAR BROADCASTING COM 65336K103 14 216,355 SH   SOLE 0 216,355 0 0
NORTHSTAR RLTY EUROPE CORP COM 66706L101 5 397,696 SH   SOLE 0 397,696 0 0
NORWEGIAN CRUISE LINE HOLDINGS SHS G66721104 1 9,779 PRN   SOLE 0 9,779 0 0
NUANCE COMMUNICATIONS INC COM 67020Y100 5 312,747 SH   SOLE 0 312,747 0 0
ON ASSIGNMENT INC COM 682159108 9 104,438 SH   SOLE 0 104,438 0 0
ONE MAIN HOLDINGS COM 68268W103 10 347,249 SH   SOLE 0 347,249 0 0
PACIFIC PREMIER BANCORP COM 69478X105 11 266,743 SH   SOLE 0 266,743 0 0
PDC ENERGY COM 69327R101 12 234,844 SH   SOLE 0 234,844 0 0
PEBBLEBROOK HOTEL COM 70509V100 10 297,728 SH   SOLE 0 297,728 0 0
PENSKE AUTOMOTIVE GROUP INC COM 70959W103 9 208,846 SH   SOLE 0 208,846 0 0
PEPSICO INC COM 713448108 1 8,616 SH   SOLE 0 8,616 0 0
PFIZER INC COM 717081103 0 5,961 SH   SOLE 0 5,961 0 0
PHOTRONICS INC COM 719405102 3 416,666 SH   SOLE 0 416,666 0 0
PHYSICIANS RLTY TR COM 71943U104 0 17,700 SH   SOLE 0 17,700 0 0
PLEXUS CORP COM 729132100 5 88,854 SH   SOLE 0 88,854 0 0
PORTLAND GENERAL COM 736508847 6 147,595 SH   SOLE 0 147,595 0 0
POTLATCHDELTIC CORPORATION COM 737630103 0 7,850 SH   SOLE 0 7,850 0 0
POWERSHARES ETF TR II PFD PORTFOLIO 73936T565 0 10,010 PRN   SOLE 0 10,010 0 0
PREFERRED BANK COM 740367404 16 243,089 SH   SOLE 0 243,089 0 0
PRIMERICA COM 74164M108 8 86,056 SH   SOLE 0 86,056 0 0
PROCTER & GAMBLE CO COM 742718109 1 7,570 SH   SOLE 0 7,570 0 0
PROGENICS PHARMA INC COM 743187106 13 1,779,524 SH   SOLE 0 1,779,524 0 0
PROGRESS SOFTWARE CORP COM 743312100 7 169,210 SH   SOLE 0 169,210 0 0
PROLOGIS COM 74340W103 1 19,723 SH   SOLE 0 19,723 0 0
PUBLIC STORAGE INC COM 74460D109 1 5,305 SH   SOLE 0 5,305 0 0
QTS RLTY TR INC COM CL A 74736A103 6 168,803 PRN   SOLE 0 168,803 0 0
RADNET INC COM 750491102 1 101,072 SH   SOLE 0 101,072 0 0
RED ROBIN GOURMET BURGERS COM 75689M101 5 88,029 SH   SOLE 0 88,029 0 0
REGENCY CTRS CORP COM 758849103 1 12,614 SH   SOLE 0 12,614 0 0
RETAIL OPPORTUNITY INVTS COR COM 76131N101 0 21,366 SH   SOLE 0 21,366 0 0
REXFORD INDL RLTY INC COM 76169C100 14 488,617 SH   SOLE 0 488,617 0 0
RING ENERGY INC COM 76680V108 19 1,323,981 SH   SOLE 0 1,323,981 0 0
SABRA HEALTH CARE REIT COM 78573L106 6 346,441 SH   SOLE 0 346,441 0 0
SCHLUMBERGER LTD COM 806857108 0 4,502 SH   SOLE 0 4,502 0 0
SCHWAB STRATEGIC TR Intl Eqty ETF 808524805 0 11,707 PRN   SOLE 0 11,707 0 0
SCHWAB STRATEGIC TR US Lrg Cap ETF 808524201 6 102,861 PRN   SOLE 0 102,861 0 0
SCHWAB STRATEGIC TR US Mid-Cap ETF 808524508 0 7,350 PRN   SOLE 0 7,350 0 0
SCHWAB STRATEGIC TR US Brd Mkt ETF 808524102 1 21,160 PRN   SOLE 0 21,160 0 0
SCHWAB STRATEGIC TR US REIT ETF 808524847 2 47,783 PRN   SOLE 0 47,783 0 0
SCHWAB STRATEGIC TR US Sml Cap ETF 808524607 1 10,535 PRN   SOLE 0 10,535 0 0
SELECTIVE INS GROUP COM 816300107 13 206,986 SH   SOLE 0 206,986 0 0
SERITAGE GROWTH PROPERTIES CL A 81752R100 1 14,805 PRN   SOLE 0 14,805 0 0
SIMON PROPERTY GROUP COM 828806109 2 12,137 SH   SOLE 0 12,137 0 0
SINCLAIR BROADCAST GRP CL A COM 829226109 14 441,683 SH   SOLE 0 441,683 0 0
SKYWEST INC COM 830879102 14 264,915 SH   SOLE 0 264,915 0 0
SKYWORKS SOLUTIONS INC COM 83088M102 0 2,990 SH   SOLE 0 2,990 0 0
SL GREEN REALTY COM 78440X101 1 12,788 SH   SOLE 0 12,788 0 0
SOUTH JERSEY INDS INC COM 838518108 7 253,312 SH   SOLE 0 253,312 0 0
SPDR INDEX SHS FDS DJ Intl RL ETF 78463X863 0 7,353 PRN   SOLE 0 7,353 0 0
SPDR S&P 500 ETF TR TR Unit 78462F103 1 3,559 PRN   SOLE 0 3,559 0 0
SPIRE INC COM 84857L101 8 106,337 SH   SOLE 0 106,337 0 0
STAG INDL INC COM 85254J102 1 22,833 SH   SOLE 0 22,833 0 0
STARWOOD PPTY TR INC COM 85571B105 0 17,700 SH   SOLE 0 17,700 0 0
STATE BANK & TRUST COM 856190103 13 424,438 SH   SOLE 0 424,438 0 0
STIFEL FINANCIAL CORP COM 860630102 10 163,438 SH   SOLE 0 163,438 0 0
STORE CAP CORP COM 862121100 1 35,626 SH   SOLE 0 35,626 0 0
SUN CMNTYS INC COM 866674104 1 7,132 SH   SOLE 0 7,132 0 0
SUNSTONE HOTEL INVESTORS COM 867892101 1 29,450 SH   SOLE 0 29,450 0 0
SUPERIOR ENERGY SERVICES COM 868157108 4 484,443 SH   SOLE 0 484,443 0 0
SYNEOS HEALTH INC CL A 87166B102 4 123,439 PRN   SOLE 0 123,439 0 0
SYNTEL INC COM 87162H103 5 214,371 SH   SOLE 0 214,371 0 0
TECH DATA CORPORATION COM 878237106 5 61,683 SH   SOLE 0 61,683 0 0
TERRAFORM POWER INC COM CL A 88104R209 5 478,690 PRN   SOLE 0 478,690 0 0
TETRA TECH INC NEW COM 88162G103 11 227,111 SH   SOLE 0 227,111 0 0
TIMKEN CO COM 887389104 5 104,472 SH   SOLE 0 104,472 0 0
TIMKEN STEEL COM 887399103 5 342,747 SH   SOLE 0 342,747 0 0
TOPBUILD CORP COM 89055F103 19 245,746 SH   SOLE 0 245,746 0 0
TOWER INTERNATIONAL INC COM 891826109 6 218,311 SH   SOLE 0 218,311 0 0
TRIUMPH BANCORP INC COM 89679E300 13 315,737 SH   SOLE 0 315,737 0 0
US SILICA HOLDINGS INC COM 90346E103 4 153,857 SH   SOLE 0 153,857 0 0
UMPQUA HOLDINGS CORP COM 904214103 11 525,442 SH   SOLE 0 525,442 0 0
UNILEVER N V N Y SHS NEW 904784709 0 6,000 PRN   SOLE 0 6,000 0 0
UNION BANKSHARES CORPORATION COM 90539J109 11 288,891 SH   SOLE 0 288,891 0 0
UNITED CMNTY BKS GA CAP STK COM 90984P303 14 446,651 SH   SOLE 0 446,651 0 0
UDR INC COM 902653104 0 9,900 SH   SOLE 0 9,900 0 0
USANA HEALTH SCIENCES COM 90328M107 6 73,041 SH   SOLE 0 73,041 0 0
VENTAS INC COM 92276F100 1 10,691 SH   SOLE 0 10,691 0 0
VERINT SYS INC COM 92343X100 8 182,675 SH   SOLE 0 182,675 0 0
VERIZON COMMUNICATIONS COM 92343V104 1 10,602 SH   SOLE 0 10,602 0 0
VORNADO RLTY TR SH BEN INT 929042109 1 19,064 PRN   SOLE 0 19,064 0 0
WALKER & DUNLOP INC COM 93148P102 4 60,000 SH   SOLE 0 60,000 0 0
WALT DISNEY CO COM 254687106 1 6,775 SH   SOLE 0 6,775 0 0
WELLTOWER INC COM 95040Q104 1 25,977 SH   SOLE 0 25,977 0 0
WINTRUST FINL CORP COM 97650W108 16 182,165 SH   SOLE 0 182,165 0 0
WOLVERINE WORLD WIDE INC COM 978097103 5 182,257 SH   SOLE 0 182,257 0 0