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
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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
A. Schulman Inc COM 808194104 925 28,896 SH   SOLE   21,866 0 7,030
ARC Document Solutions COM 00191G103 3,061 735,891 SH   SOLE   568,914 0 166,977
ASV Holdings LLC COM 00215L104 1,877 230,360 SH   SOLE   178,060 0 52,300
AXT Inc COM 00246W103 4,611 726,094 SH   SOLE   561,324 0 164,770
Acacia Research Corp COM 003881307 3,786 923,525 SH   SOLE   710,965 0 212,560
Actuant Corp Cls A COM 00508X203 523 21,240 SH   SOLE   16,070 0 5,170
Altisource Residential Corp Re COM 02153W100 1,231 95,160 SH   SOLE   72,040 0 23,120
American Equity Investment Lif COM 025676206 969 36,860 SH   SOLE   27,910 0 8,950
American River Bankshares COM 029326105 3,788 261,059 SH   SOLE   201,813 0 59,246
American Software, Inc COM 029683109 720 69,950 SH   SOLE   52,940 0 17,010
Amtech Systems COM 032332504 2,709 321,014 SH   SOLE   248,288 0 72,726
Asure Software COM 04649U102 5,521 377,917 SH   SOLE   291,407 0 86,510
Atlantic Capital Bank COM 048269203 2,899 152,574 SH   SOLE   118,011 0 34,563
Atlas Financial Holdings COM G06207115 1,582 106,200 SH   SOLE   82,090 0 24,110
BG Staffing COM 05544A109 4,622 265,948 SH   SOLE   205,600 0 60,348
Banc of California Inc COM 05990K106 753 35,020 SH   SOLE   26,510 0 8,510
Bank of Commerce Hlds COM 06424J103 3,657 330,936 SH   SOLE   255,846 0 75,090
Barrett Business Services Inc COM 068463108 5,536 96,633 SH   SOLE   74,292 0 22,341
Big 5 Sporting Goods Corp COM 08915P101 4,785 366,635 SH   SOLE   281,611 0 85,024
Blucora Inc COM 095229100 832 39,250 SH   SOLE   29,710 0 9,540
Bofi Holding, INC. COM 05566U108 1,565 65,990 SH   SOLE   49,950 0 16,040
Build A Bear Workshop COM 120076104 4,315 412,925 SH   SOLE   318,324 0 94,601
CAI International Inc COM 12477X106 5,745 243,433 SH   SOLE   187,515 0 55,918
CRH Medical COM 12626F105 6,703 1,176,044 SH   SOLE   903,992 0 272,052
CTS Corp COM 126501105 500 23,140 SH   SOLE   17,510 0 5,630
Caleres Inc COM 129500104 1,465 52,750 SH   SOLE   39,930 0 12,820
Care Trust REIT Inc COM 14174T107 976 52,632 SH   SOLE   39,852 0 12,780
Citi Trends Inc COM 17306X102 1,165 54,880 SH   SOLE   41,540 0 13,340
Cohu Inc COM 192576106 3,791 240,834 SH   SOLE   186,168 0 54,666
Columbus McKinnon Corp COM 199333105 3,804 149,663 SH   SOLE   115,117 0 34,546
Comfort Systems USA Inc COM 199908104 1,395 37,590 SH   SOLE   28,450 0 9,140
Computer Task Group Inc COM 205477102 562 100,470 SH   SOLE   75,980 0 24,490
Comtech Telecommunications Cor COM 205826209 5,653 297,993 SH   SOLE   230,373 0 67,620
ConnectOne Bancorp COM 20786W107 1,273 56,470 SH   SOLE   42,730 0 13,740
Cra Intl Inc COM 12618T105 3,163 87,096 SH   SOLE   67,340 0 19,756
Customers Bancorp COM 23204G100 1,497 52,930 SH   SOLE   40,060 0 12,870
DMC Global Inc COM 23291C103 3,918 299,117 SH   SOLE   231,257 0 67,860
DXP Enterprises, Inc COM 233377407 756 21,900 SH   SOLE   16,560 0 5,340
Daktronics, Inc COM 234264109 957 99,380 SH   SOLE   75,230 0 24,150
Donegal Group Inc COM 257701201 498 31,326 SH   SOLE   23,736 0 7,590
Douglas Dynamics Inc COM 25960R105 758 23,050 SH   SOLE   17,460 0 5,590
EPlus Inc COM 294268107 1,074 14,490 SH   SOLE   10,960 0 3,530
Ennis Inc COM 293389102 1,175 61,520 SH   SOLE   46,530 0 14,990
Ensign Group Inc COM 29358P101 988 45,370 SH   SOLE   34,350 0 11,020
Esquire Financial Hld COM 29667J101 1,800 120,000 SH   SOLE   92,600 0 27,400
Essendant Inc COM 296689102 432 29,100 SH   SOLE   22,030 0 7,070
Express Inc COM 30219E103 314 46,460 SH   SOLE   35,150 0 11,310
FS Bancorp COM 30263Y104 2,524 56,203 SH   SOLE   43,460 0 12,743
Farmers National Banc Corp COM 309627107 3,427 236,318 SH   SOLE   182,686 0 53,632
Federal Signal Corp COM 313855108 1,105 63,640 SH   SOLE   48,120 0 15,520
First Bancshares Inc COM 318916103 2,498 90,498 SH   SOLE   69,993 0 20,505
First Financial Corp COM 320218100 846 17,880 SH   SOLE   13,530 0 4,350
First Interstate Bancsystem cl COM 32055Y201 1,092 29,360 SH   SOLE   22,220 0 7,140
First Northwest COM 335834107 2,128 134,940 SH   SOLE   104,320 0 30,620
FormFactor COM 346375108 1,158 93,380 SH   SOLE   70,690 0 22,690
Francesca's Holdings Corp COM 351793104 639 58,430 SH   SOLE   44,210 0 14,220
Greenight Capital Cl A COM G4095J109 912 43,620 SH   SOLE   33,020 0 10,600
Guess Inc COM 401617105 582 45,570 SH   SOLE   34,510 0 11,060
Hallmark Financial Services In COM 40624Q203 1,130 100,260 SH   SOLE   75,890 0 24,370
Hanger Inc COM 41043F208 641 53,850 SH   SOLE   40,710 0 13,140
Hardinge Inc COM 412324303 3,910 314,779 SH   SOLE   243,336 0 71,443
Heritage Financial COM 42722X106 762 28,749 SH   SOLE   21,739 0 7,010
Heritage Insurance Hlds Inc COM 42727J102 4,485 344,450 SH   SOLE   264,710 0 79,740
Hibbett Sports Inc COM 428567101 580 27,970 SH   SOLE   21,170 0 6,800
Homestreet Inc COM 43785V102 1,080 39,020 SH   SOLE   29,540 0 9,480
Horizon Bancorp COM 440407104 3,897 147,893 SH   SOLE   114,363 0 33,530
Houston Wire & Cable Co COM 44244K109 443 85,270 SH   SOLE   64,560 0 20,710
Hurco Companies Inc COM 447324104 3,534 101,687 SH   SOLE   78,631 0 23,056
InnerWorkings COM 45773Y105 5,439 468,861 SH   SOLE   360,934 0 107,927
Insight Enterprises Inc COM 45765U103 1,113 27,830 SH   SOLE   21,060 0 6,770
Integer Holdings Corp COM 45826H109 1,368 31,638 SH   SOLE   23,928 0 7,710
Intevac Inc COM 461148108 1,038 93,530 SH   SOLE   70,810 0 22,720
Invacare COM 461203101 537 40,690 SH   SOLE   30,760 0 9,930
Kirkland's Inc COM 497498105 718 69,840 SH   SOLE   52,820 0 17,020
Lakeland Bancorp COM 511637100 508 26,950 SH   SOLE   20,390 0 6,560
Landec Corp COM 514766104 3,844 258,832 SH   SOLE   199,178 0 59,654
Lifetime Brands Inc COM 53222Q103 4,778 263,261 SH   SOLE   202,807 0 60,454
MagicJack VocalTec Ltd COM M6787E101 4,696 652,201 SH   SOLE   504,131 0 148,070
Maiden Holdings, Ltd COM G5753U112 1,208 108,800 SH   SOLE   82,350 0 26,450
Manitex International Inc COM 563420108 3,848 551,254 SH   SOLE   426,169 0 125,085
Marcus & Millichap Inc COM 566324109 1,032 39,150 SH   SOLE   29,650 0 9,500
Matrix Service Co COM 576853105 507 54,200 SH   SOLE   41,050 0 13,150
Medifast Inc COM 58470H101 4,212 101,578 SH   SOLE   78,178 0 23,400
Meet Group Inc COM 58513U101 6,663 1,319,351 SH   SOLE   1,014,591 0 304,760
Meta Financial Group COM 59100U108 6,532 73,396 SH   SOLE   56,440 0 16,956
MidSouth Bancorp Inc COM 598039105 2,812 239,333 SH   SOLE   185,008 0 54,325
MidWestOne Financial Group COM 598511103 1,135 33,490 SH   SOLE   25,350 0 8,140
Midland States COM 597742105 2,756 82,210 SH   SOLE   63,240 0 18,970
Multi-Color Corp COM 625383104 883 10,820 SH   SOLE   8,190 0 2,630
NN Inc COM 629337106 7,189 261,882 SH   SOLE   201,494 0 60,388
NV5 Global Inc COM 62945V109 5,120 120,468 SH   SOLE   92,713 0 27,755
Natural Gas Services Group Inc COM 63886Q109 2,394 96,318 SH   SOLE   74,586 0 21,732
Netgear Inc COM 64111Q104 969 22,490 SH   SOLE   17,030 0 5,460
Newpark Resources Inc COM 651718504 880 119,720 SH   SOLE   90,610 0 29,110
Northeast Bancorp COM 663904209 3,139 154,240 SH   SOLE   119,240 0 35,000
Northrim BanCorp Inc COM 666762109 2,282 75,058 SH   SOLE   58,048 0 17,010
Northwest Pipe COM 667746101 3,917 240,886 SH   SOLE   186,230 0 54,656
Novanta Inc COM 67000B104 1,177 32,692 SH   SOLE   24,752 0 7,940
Orrstown Financial Services COM 687380105 2,052 89,793 SH   SOLE   71,175 0 18,618
PAM Transportation Services, I COM 693149106 3,315 174,921 SH   SOLE   135,231 0 39,690
PC Connection COM 69318J100 4,222 156,021 SH   SOLE   120,037 0 35,984
PCM Inc COM 69323K100 4,839 258,057 SH   SOLE   200,116 0 57,941
PRA Group COM 69354N106 1,160 30,610 SH   SOLE   23,150 0 7,460
Pennantpark Floating Rate Capi COM 70806A106 3,207 227,283 SH   SOLE   174,743 0 52,540
People's Utah Bancorp COM 712706209 3,606 134,541 SH   SOLE   104,006 0 30,535
Perry Ellis International COM 288853104 701 36,010 SH   SOLE   27,250 0 8,760
Photronics Inc COM 719405102 1,202 127,860 SH   SOLE   96,820 0 31,040
Pier 1 Imports COM 720279108 491 94,620 SH   SOLE   71,580 0 23,040
Premier Financial Bancorp COM 74050M105 4,175 202,549 SH   SOLE   156,571 0 45,978
ProFire Energy COM 74316X101 1,510 1,161,775 SH   SOLE   898,580 0 263,195
Quantum Corp COM 747906501 4,837 619,333 SH   SOLE   480,854 0 138,479
RPX Corporation COM 74972G103 1,076 77,140 SH   SOLE   58,410 0 18,730
RadiSys Corp COM 750459109 6,414 1,705,981 SH   SOLE   1,339,961 0 366,020
Resources Connection COM 76122Q105 861 62,860 SH   SOLE   47,590 0 15,270
Rocky Brands, Inc COM 774515100 2,229 165,729 SH   SOLE   128,137 0 37,592
Rudolph Technologies Inc COM 781270103 3,459 151,394 SH   SOLE   116,494 0 34,900
SP Plus Corp COM 78469C103 1,148 37,580 SH   SOLE   28,440 0 9,140
Sabra Health Care Reit COM 78573L106 704 29,230 SH   SOLE   22,110 0 7,120
Silvercrest Asset Mgmnt Grp Cl COM 828359109 3,105 230,885 SH   SOLE   178,455 0 52,430
Spartan Motors Inc COM 846819100 3,499 395,396 SH   SOLE   304,230 0 91,166
SpartanNash Co COM 847215100 733 28,230 SH   SOLE   21,370 0 6,860
Standard Motor COM 853666105 1,396 26,740 SH   SOLE   20,240 0 6,500
Standex International Corp COM 854231107 669 7,380 SH   SOLE   5,590 0 1,790
Sterling Construction Co Inc COM 859241101 6,668 510,170 SH   SOLE   392,540 0 117,630
Super Micro Computer, Inc COM 86800U104 2,006 81,380 SH   SOLE   61,620 0 19,760
Sykes Enterprises COM 871237103 1,406 41,940 SH   SOLE   31,720 0 10,220
Textainer Group Holdings COM G8766E109 2,296 158,320 SH   SOLE   119,860 0 38,460
Third Point Reinsurrance Ltd COM G8827U100 1,190 85,610 SH   SOLE   64,810 0 20,800
Triton International Ltd COM G9078F107 2,089 62,460 SH   SOLE   47,270 0 15,190
TrueBlue Inc COM 89785X101 699 26,380 SH   SOLE   19,960 0 6,420
Twin Disc Inc COM 901476101 5,449 337,595 SH   SOLE   260,134 0 77,461
Ultra Clean Holdings COM 90385V107 6,106 325,663 SH   SOLE   250,435 0 75,228
Unique Fabricating COM 90915J103 1,778 186,790 SH   SOLE   144,390 0 42,400
Univest Corp of Pennsylvania COM 915271100 1,069 35,690 SH   SOLE   27,020 0 8,670
Wabash National Corp COM 929566107 1,294 58,890 SH   SOLE   44,600 0 14,290
Web.com Group, Inc COM 94733A104 1,709 67,530 SH   SOLE   51,140 0 16,390
West Bancorporation COM 95123P106 1,691 71,490 SH   SOLE   55,270 0 16,220
Windstream Holdings Inc COM 97382A200 415 107,035 SH   SOLE   81,025 0 26,010
Xcerra Corp COM 98400J108 8,533 873,392 SH   SOLE   671,654 0 201,738
ZAGG Inc COM 98884U108 5,188 599,821 SH   SOLE   463,714 0 136,107