Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CNO	CNO FINANCIAL INC	982,016	$20.5M	1.9%	$11.81	+44.2%	COM	12621E103
VYX	NCR CORP NEW	495,583	$20.24M	1.8%	$16.27	+55.9%	COM	62886E108
—	CORESITE REALTY CORP	185,448	$19.2M	1.7%	$42.82	—	COM	21870Q105
UCB	UNITED CMNTY BKS GA CAP STK	687,563	$19.11M	1.7%	$16.53	+63.6%	COM	90984P303
—	PACIFIC PREMIER BANCORP	495,358	$18.28M	1.7%	$33.16	—	COM	69478X105
BANR	BANNER CORP	304,214	$17.35M	1.6%	$28.21	+41.4%	COM	06652V208
—	IBERIABANK CORP	212,106	$17.29M	1.6%	$62.12	—	COM	450828108
—	CENTERSTATE BANKS INC	679,241	$16.89M	1.5%	$15.55	—	COM	15201P109
FNB	FNB CORP	1,159,358	$16.42M	1.5%	$10.15	-1.2%	COM	302520101
SKYW	SKYWEST INC	467,318	$16.4M	1.5%	$16.66	+110.8%	COM	830879102
—	FRANKLIN FINANCIAL NETWORK, INC.	387,006	$15.96M	1.4%	$40.65	—	COM	35352P104
REI	RING ENERGY, INC.	1,188,071	$15.45M	1.4%	$8.44	+47.5%	COM	76680V108
—	SYNOVUS FINL CORP	348,500	$15.42M	1.4%	$29.86	—	COM	87161C501
WTFC	WINTRUST FINL CORP	196,349	$15.01M	1.4%	$45.15	+58.6%	COM	97650W108
—	OFFICE DEPOT INC	2,528,416	$14.26M	1.3%	$3.66	—	COM	676220106
BLD	TOPBUILD CORP	264,734	$14.05M	1.3%	$34.66	+47.9%	COM	89055F103
REXR	REXFORD INDUSTRIAL REALTY	501,964	$13.77M	1.2%	$18.50	—	COM	76169C100
DLX	DELUXE CORP	198,583	$13.75M	1.2%	$39.34	+21.3%	COM	248019101
CBZ	CBIZ INC	914,308	$13.71M	1.2%	$9.44	+58.6%	COM	124805102
—	CYPRESS SEMICONDUCTOR	990,222	$13.52M	1.2%	$12.11	—	COM	232806109
GIII	G-III APPAREL GROUP, LTD.	522,540	$13.04M	1.2%	$23.17	0.0%	COM	36237H101
MOD	MODINE MANUFACTURING CO	776,539	$12.85M	1.2%	$13.06	+4.4%	COM	607828100
KAI	KADANT INC	167,382	$12.59M	1.1%	$42.50	+54.3%	COM	48282T104
MKSI	MKS INSTRUMENT INC	186,320	$12.54M	1.1%	$47.81	+48.0%	COM	55306N104
—	SINCLAIR BROADCAST GRP CL A	380,489	$12.52M	1.1%	$29.44	—	COM	829226109
TKR	TIMKEN CO	270,024	$12.49M	1.1%	$39.68	+15.7%	COM	887389104
—	STATE BANK & TRUST	457,471	$12.41M	1.1%	$18.00	—	COM	856190103
—	BRYN MAWR BK CORP	290,617	$12.35M	1.1%	$31.19	—	COM	117665109
—	GREEN BANCORP, INC.	604,901	$11.73M	1.1%	$17.87	—	COM	39260X100
—	ESTERLINE TECHNOLOGIES	120,744	$11.45M	1.0%	$83.60	—	COM	297425100
—	HUDSON PACIFIC PROPERTIES, INC.	334,730	$11.44M	1.0%	$25.92	—	COM	444097109
FAF	FIRST AMERICAN FINANCIAL	254,578	$11.38M	1.0%	$30.24	+5.0%	COM	31847R102
—	FERRO CORP	617,866	$11.3M	1.0%	$13.80	—	COM	315405100
CPK	CHESAPEAKE UTILITIES CORP.	149,516	$11.21M	1.0%	$37.95	+64.0%	COM	165303108
TTEK	TETRA TECH INC NEW	244,615	$11.19M	1.0%	$5.56	+60.1%	COM	88162G103
NSA	NATIONAL STORAGE AFFILIATES TRUST	482,991	$11.16M	1.0%	$19.07	—	COM	637870106
SIGI	SELECTIVE INS GROUP	222,938	$11.16M	1.0%	$32.33	+34.5%	COM	816300107
ROCK	GIBRALTAR INDS INC	312,304	$11.13M	1.0%	$25.47	+38.5%	COM	374689107
IRT	INDEPENDENCE REALTY TRUST, INC.	1,089,829	$10.76M	1.0%	$9.87	—	COM	45378A106
CACI	CACI INTERNATIONAL INC CLASS A	83,331	$10.42M	0.9%	$123.55	-1.7%	COM	127190304
—	COLONY NORTHSTA	738,446	$10.4M	0.9%	$12.91	—	CL A COM	19625W104
FIBK	FIRST INTERSTATE BANCSYSTEM	277,152	$10.31M	0.9%	$25.71	-4.3%	COM	32055Y201
IDA	IDACORP INC	120,688	$10.3M	0.9%	$69.33	+23.7%	COM	451107106
HOPE	HOPE BANCORP, INC.	547,204	$10.21M	0.9%	$18.57	0.0%	COM	43940T109
MTRN	MATERION CORP	269,383	$10.07M	0.9%	$34.59	+2.1%	COM	576690101
SXT	SENSIENT TECH CORP	124,608	$10.04M	0.9%	$52.28	+54.5%	COM	81725T100
—	PROGENICS PHARMA INC	1,466,748	$9.959M	0.9%	$5.91	—	COM	743187106
EFSC	ENTERPRISE FINANCIAL SERVICES	243,246	$9.924M	0.9%	$35.76	-0.8%	COM	293712105
AKR	ACADIA REALTY TRUST	350,321	$9.739M	0.9%	$28.45	—	COM	004239109
—	MEREDITH CORP	158,430	$9.419M	0.9%	$51.17	—	COM	589433101
ASTE	ASTEC INDS INC	168,485	$9.353M	0.8%	$38.27	+39.8%	COM	046224101
—	SOUTH JERSEY INDS INC	272,684	$9.318M	0.8%	$35.75	—	COM	838518108
NXST	NEXSTAR BROADCASTING	154,828	$9.259M	0.8%	$52.34	-5.9%	COM	65336K103
—	LEGACYTEXAS FINANCIAL GROUP, INC.	241,600	$9.212M	0.8%	$38.13	—	COM	52471Y106
PFBC	PREFERRED BANK	161,277	$8.623M	0.8%	$51.53	0.0%	COM	740367404
—	WEB.COM GROUP INC	328,898	$8.321M	0.8%	$22.11	—	COM	94733A104
EME	EMCOR GROUP INC	124,030	$8.109M	0.7%	$50.28	+23.8%	COM	29084Q100
USNA	USANA HEALTH SCIENCES	125,090	$8.018M	0.7%	$65.22	-5.5%	COM	90328M107
—	VERINT SYS INC	196,898	$8.014M	0.7%	$42.23	—	COM	92343X100
SR	SPIRE, INC	114,735	$8.003M	0.7%	$70.37	—	COM	84857L101
FUL	H.B. FULLER COMPANY	150,278	$7.681M	0.7%	$45.16	+2.3%	COM	359694106
—	CALLON PETE CO DEL	720,960	$7.649M	0.7%	$9.46	—	COM	13123X102
KALU	KAISER ALUMINUM CORP	85,636	$7.58M	0.7%	$50.37	+24.0%	COM	483007704
—	PDC ENERGY	171,848	$7.408M	0.7%	$51.98	—	COM	69327R101
POR	PORTLAND GENERAL	159,094	$7.269M	0.7%	$23.41	+41.8%	COM	736508847
BKH	BLACK HILLS CORP	107,572	$7.258M	0.7%	$32.09	+55.3%	COM	092113109
—	SNYDERS LANCE INC	207,959	$7.2M	0.7%	$40.06	—	COM	833551104
—	PHARMERICA	273,788	$7.187M	0.6%	$29.49	—	COM	71714F104
TCBK	TRICO BANCSHARES	200,203	$7.037M	0.6%	$24.85	+41.9%	COM	896095106
PRI	PRIMERICA	92,696	$7.022M	0.6%	$64.24	+22.1%	COM	74164M108
—	KAPSTONE PAPER & PACKAGING CORP	334,005	$6.891M	0.6%	$14.41	—	COM	48562P103
HTBK	HERITAGE COMMERCE CORP	494,648	$6.816M	0.6%	$8.25	+68.0%	COM	426927109
—	GUARANTY BANCORP	239,446	$6.513M	0.6%	$24.34	—	COM	40075T607
MYRG	MYR GROUP INC	209,103	$6.486M	0.6%	$24.58	+39.5%	COM	55405W104
—	ENVISION HEALTHCARE	101,263	$6.346M	0.6%	$63.29	—	COM	29414D100
—	SUPERIOR ENERGY SERVICES	594,698	$6.203M	0.6%	$15.28	—	COM	868157108
RRGB	RED ROBIN GOURMET BURGERS IN	94,829	$6.188M	0.6%	$50.69	+25.2%	COM	75689M101
SIMO	SILICON MOTION TECHNOLOGY CORP	127,512	$6.15M	0.6%	$30.78	—	COM	82706C108
—	ON ASSIGNMENT INC	112,515	$6.093M	0.6%	$37.68	—	COM	682159108
—	PAREXEL INTL CORP	69,200	$6.014M	0.5%	$65.64	—	COM	699462107
ABM	ABM INDS INC	139,647	$5.798M	0.5%	$28.39	+25.5%	COM	000957100
—	FIDELITY & GUAR	186,259	$5.783M	0.5%	$31.05	—	COM	315785105
—	ENTERCOM COMM CORP CL A	556,829	$5.763M	0.5%	$11.25	—	COM	293639100
—	CALPINE	421,403	$5.702M	0.5%	$11.52	—	COM	131347304
MTUS	TIMKEN STEEL	369,148	$5.674M	0.5%	$13.46	+10.1%	COM	887399103
PRGS	PROGRESS SOFTWARE CORP	182,181	$5.628M	0.5%	$24.38	+21.4%	COM	743312100
CNDT	CONDUENT INC	347,217	$5.535M	0.5%	$16.38	0.0%	COM	206787103
WWW	WOLVERINE WORLD WIDE, INC.	196,236	$5.497M	0.5%	$21.33	0.0%	COM	978097103
—	COWEN GROUP, INC. CLASS A	336,870	$5.474M	0.5%	$15.01	—	CL A NEW	223622606
—	ATLAS AIR WORLDWIDE HOLDINGS, INC.	104,356	$5.442M	0.5%	$52.15	—	COM	049164205
—	NORTHSTAR RLTY EUROPE CORP	422,852	$5.362M	0.5%	$12.68	—	COM	66706L101
SCHX	SCHWAB STRATEGIC TR	91,879	$5.308M	0.5%	$43.73	—	US LRF CAP ERD	808524201
CLDT	CHATHAM LODGING TRUST	264,225	$5.308M	0.5%	$20.23	—	COM	16208T102
—	TOWER INTERNATIONAL, INC	234,969	$5.275M	0.5%	$26.17	—	COM	891826109
HFWA	HERITAGE FINANCIAL CORP	198,170	$5.252M	0.5%	$16.94	+48.0%	COM	42722X106
PFF	ISHARES TR	133,458	$5.228M	0.5%	$39.20	—	U.S. PFD STK ETF	464288687
—	COLONY STARWOOD HOMES	152,101	$5.219M	0.5%	$34.31	—	COM	19625X102
SBRA	SABRA HEALTH CARE REIT	212,756	$5.127M	0.5%	$24.23	—	COM	78573L106
AZTA	BROOKS AUTOMATION, INC.	235,927	$5.117M	0.5%	$24.18	0.0%	COM	114340102
PAG	PENSKE AUTOMOTIVE GROUP, INC.	115,931	$5.091M	0.5%	$44.07	0.0%	COM	70959W103
PLXS	PLEXUS CORP	95,707	$5.031M	0.5%	$40.19	+31.9%	COM	729132100
—	HEARTLAND FINL USA INC	105,465	$4.967M	0.4%	$39.17	—	COM	42234Q102
—	BOSTON PRIVATE FINANCIAL HOLDINGS	312,968	$4.804M	0.4%	$16.35	—	COM	101119105
—	GENERAL CABLE CORPORATION	292,237	$4.778M	0.4%	$17.88	—	COM	369300108
OMF	ONE MAIN HOLDINGS	192,457	$4.733M	0.4%	$25.05	-6.1%	COM	68268W103
SRG	SERITAGE GROWTH PROPERTIES	110,046	$4.616M	0.4%	$46.35	-14.9%	COM	81752R100
SF	STIFEL FINANCIAL CORP	100,131	$4.604M	0.4%	$30.44	-10.4%	COM	860630102
CASS	CASS INFORMATION SYSTEMS	69,831	$4.584M	0.4%	$38.77	+2.0%	COM	14808P109
PLAB	PHOTRONICS INC	449,030	$4.221M	0.4%	$10.63	-0.6%	COM	719405102
—	BASIC ENERGY SERVICES, INC.	160,792	$4.004M	0.4%	$28.99	—	COM NEW	06985P209
—	CARRIZO OIL & GAS	212,352	$3.699M	0.3%	$33.46	—	COM	144577103
—	RESOLUTE ENERGY CORP	123,675	$3.682M	0.3%	$39.92	—	COM NEW	76116A306
ABBV	ABBVIE INC	36,313	$2.633M	0.2%	$35.96	+30.6%	COM	00287Y109
AVB	AVALONBAY COMMUNITIES	13,396	$2.574M	0.2%	$94.85	+49.8%	COM	053484101
SPG	SIMON PROPERTY GROUP	13,323	$2.155M	0.2%	$90.85	+13.0%	COM	828806109
JNJ	JOHNSON & JOHNSON	13,327	$1.763M	0.2%	$59.66	+68.3%	COM	478160104
AAPL	APPLE COMPUTER INC	11,494	$1.655M	0.1%	$18.98	+80.7%	COM	037833100
ARE	ALEXANDRIA REAL ESTATE	13,381	$1.612M	0.1%	$54.94	+55.1%	COM	015271109
—	CLAYMORE EXCHANGE TRD FD TR	29,096	$1.388M	0.1%	$41.50	—	GUGG S&P SPINOFF	18383M605
SCHH	SCHWAB STRATEGIC TR	31,933	$1.316M	0.1%	$37.88	—	COM	808524847
BXP	BOSTON PROPERTIES INC	10,382	$1.277M	0.1%	$68.50	+26.9%	COM	101121101
SCHB	SCHWAB STRATEGIC TR	20,960	$1.225M	0.1%	$54.24	—	US BRD MKT ETD	808524102
ESS	ESSEX PROPERTY TRUST	4,252	$1.094M	0.1%	$165.44	+13.6%	COM	297178105
SPY	SPDR S&P 500 RTF TR	4,499	$1.088M	0.1%	$203.97	—	TR UNIT	78462F103
ELS	EQUITY LIFESTYLE PPTYS	12,315	$1.063M	0.1%	$61.11	—	COM	29472R108
PEP	PEPSICO INC	9,025	$1.042M	0.1%	$56.90	+55.0%	COM	713448108
FRCB	FIRST REPUBLIC BANK	10,334	$1.034M	0.1%	$35.36	+156.9%	COM	33616C100
VNO	VORNADO REALTY TRUST	10,935	$1.027M	0.1%	$99.89	—	COM	929042109
FR	FIRST INDUSTRIAL RLTY	34,336	$983K	0.1%	$18.83	—	COM	32054K103
GOOGL	ALPHABET INC CL A	1,028	$956K	0.1%	$36.72	+26.4%	COM	02079K305
JPM	JPMORGAN CHASE & CO	10,437	$954K	0.1%	$41.05	+67.0%	COM	46625H100
T	AT&T INC	24,281	$916K	0.1%	$12.08	+31.8%	COM	00206R102
—	SL GREEN REALTY	8,582	$908K	0.1%	$108.51	—	COM	78440X101
DIS	WALT DISNEY CO	8,226	$874K	0.1%	$88.98	+15.1%	COM	254687106
—	GENERAL ELEC CO	32,049	$866K	0.1%	$23.83	—	COM	369604103
IYR	ISHARES TR	10,739	$857K	0.1%	$66.56	—	U.S. REAL ES ETF	464287739
PEB	PEBBLEBROOK HOTEL	26,291	$848K	0.1%	$29.75	—	COM	70509V100
PSA	PUBLIC STORAGE INC	3,830	$799K	0.1%	$156.77	-3.6%	COM	74460D109
WELL	WELLTOWER INC	10,536	$789K	0.1%	$45.82	+16.9%	COM	95040Q104
CVX	CHEVRON CORP NEW	7,262	$758K	0.1%	$73.85	-0.9%	COM	166764100
—	QTS REALTY TRUST INC	14,007	$733K	0.1%	$46.61	—	COM	74736A103
NWL	NEWELL RUBBERMAID INC	13,259	$711K	0.1%	$22.99	+50.3%	COM	651229106
IFGL	ISHARES TR	24,325	$693K	0.1%	$29.46	—	INTL DEV RE ETF	464288489
DOV	DOVER CORP	8,582	$688K	0.1%	$43.88	+29.4%	COM	260003108
PG	PROCTER & GAMBLE CO	7,826	$682K	0.1%	$55.00	+27.5%	COM	742718109
CVS	CVS HEALTH CORP	8,310	$669K	0.1%	$41.44	+45.6%	COM	126650100
STAG	STAG INDUSTRIAL	23,609	$652K	0.1%	$23.06	—	COM	85254J102
DUK	DUKE ENERGY CORP	7,750	$648K	0.1%	$46.45	+27.2%	COM	26441C204
SUI	SUN COMMUNITIES INC	7,367	$646K	0.1%	$58.36	—	COM	866674104
KRC	KILROY REALTY CORP	8,397	$631K	0.1%	$58.66	—	COM	49427F108
ETN	EATON CORP	7,920	$616K	0.1%	$47.98	+33.3%	SHS	G29183103
—	HD SUPPLY HOLDINGS INC	19,410	$595K	0.1%	$35.52	—	COM	40416M105
—	CIGNA CORP	3,530	$591K	0.1%	$74.09	—	COM	125509109
—	HANESBRANDS	24,110	$558K	0.1%	$21.57	—	COM	410345102
XOM	EXXON MOBIL CORP	6,872	$555K	0.1%	$53.54	+3.6%	COM	30231G102
NCLH	NORWEGIAN CRUISE LINE HOLDINGS	10,099	$548K	0.0%	$56.93	-9.3%	SHS	G66721104
EXR	EXTRA SPACE STORAGE	6,985	$545K	0.0%	$33.09	+67.7%	COM	30225T102
INTC	INTEL CORP	15,957	$538K	0.0%	$21.41	+38.1%	COM	458140100
CL	COLGATE PALMOLIVE CO	7,140	$529K	0.0%	$52.56	+15.4%	COM	194162103
—	CORENERGY INFRASTRUCTURE	15,331	$515K	0.0%	$34.82	—	COM	21870U502
C	CITIGROUP INC	7,597	$508K	0.0%	$34.33	+35.3%	COM	172967424
WFC	WELLS FARGO & CO	9,159	$508K	0.0%	$37.11	+13.7%	COM	949746101
PLD	PROLOGIS	8,511	$499K	0.0%	$31.73	+37.9%	COM	74340W103
CDP	CORPORATE OFFICE PROPERTIES TRUST	14,013	$491K	0.0%	$33.22	—	COM	22002T108
CPT	CAMDEN PROPERTY TRUST	5,619	$480K	0.0%	$53.06	+17.7%	COM	133131102
REG	REGENCY CTRS CORP	7,558	$473K	0.0%	$46.64	-4.2%	COM	758849103
VZ	VERIZON COMMUNICATIONS	10,602	$473K	0.0%	$27.04	+9.2%	COM	92343V104
—	JERNIGAN CAPITAL, INC.	20,891	$460K	0.0%	$22.02	—	COM	476405105
VTR	VENTAS INC	6,420	$446K	0.0%	$48.03	-4.2%	COM	92276F100
—	DOW CHEM CO	6,715	$424K	0.0%	$51.47	—	COM	260543103
BOKF	BOK FINANCIAL CORP	5,010	$421K	0.0%	$49.27	+33.1%	COM	05561Q201
NXPI	NXP SEMICONDUCTORS	3,645	$399K	0.0%	$69.09	+37.8%	COM	N6596X109
—	UNILEVER NV	6,000	$332K	0.0%	$43.38	—	N Y SHS HEW	904784709
—	FEDERAL REALTY INVT TR	2,555	$323K	0.0%	$148.34	—	COM	313747206
SLB	SCHLUMBERGER LTD	4,722	$311K	0.0%	$56.32	-0.9%	COM	806857108
—	LABORATORY CORP OF AMERICA	1,835	$283K	0.0%	$123.71	—	COM	50540R409
RWX	SPDR INDEX SHS FDS	7,283	$277K	0.0%	$39.06	—	DJ INTL RL ETF	78463X863
GOOG	ALPHABET INC CL C	304	$276K	0.0%	$35.61	+27.6%	COM	02079K107
LOW	LOWES COMPANIES INC	3,460	$268K	0.0%	$69.71	0.0%	COM	548661107
SWKS	SKYWORKS SOLUTIONS INC	2,790	$268K	0.0%	$44.50	+91.1%	COM	83088M102
—	MAGELLAN MIDSTREAM	3,700	$264K	0.0%	$68.00	—	COM	559080106
CAG	CONAGRA FOODS INC	7,280	$260K	0.0%	$24.11	+16.7%	COM	205887102
AJG	GALLAGHER ARTHUR J &CO	4,520	$259K	0.0%	$34.76	+42.8%	COM	363576109
KIM	KIMCO REALTY CORP	13,999	$257K	0.0%	$12.68	-0.0%	COM	49446R109
MSFT	MICROSOFT CORP	3,620	$250K	0.0%	$40.67	+53.2%	COM	594918104
BRK/B	BERKSHIRE HATHAWAY CLASS B	1,470	$249K	0.0%	$146.25	+13.7%	COM	084670702
MET	METLIFE INC	4,474	$246K	0.0%	$25.77	+34.4%	COM	59156R108
MAC	MACERICH CO	4,157	$241K	0.0%	$80.59	—	COM	554382101
SCHA	SCHWAB STRATEGIC TR	3,695	$236K	0.0%	$57.88	—	US SML CAP ETF	808524607
INVH	INVITATION HOMES, INC.	10,307	$223K	0.0%	$17.24	0.0%	COM	46187W107
—	SHIRE PLC	1,313	$217K	0.0%	$184.09	—	SPONSORED ADR	82481R106
—	EMMIS COMMUNICTNS CORP CL A	75,078	$215K	0.0%	$1.23	—	COM	291525103
IWN	ISHARES TR	1,780	$212K	0.0%	$119.10	—	RUS 2000 VAL ETF	464287630
ABT	ABBOTT LABS	4,360	$212K	0.0%	$38.90	0.0%	COM	002824100
IWO	ISHARES TR	1,250	$211K	0.0%	$161.60	—	RUS 2000 GRW ETF	464287648
—	ATLANTIC CAPITAL BANCSHARES INC	11,047	$210K	0.0%	$14.96	—	COM	048269203
—	SCRIPPS NETWORKS INTERACTIVE INC	2,940	$201K	0.0%	$55.37	—	COM	811065101
PFE	PFIZER INC	5,961	$200K	0.0%	$17.48	+23.6%	COM	717081103
—	BILL BARRETT CORPORATION	55,832	$171K	0.0%	$3.06	—	COM	06846N104
—	POWERSHARES ETF TR II	10,000	$151K	0.0%	$15.10	—	PFD PORTFOLIO	73936T565
—	CHEMBIO DIAGNOSTICS	20,000	$121K	0.0%	$4.91	—	COM	163572209