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
ASHFORD HOSPITALITY TRUST INC Common 044103109 8,445 1,433,830 SH   SOLE   1,059,659 0 0
ASTRONOVA INC Common 04638F108 8,167 551,836 SH   SOLE   276,765 0 0
BLUE NILE, INC. Common 09578R103 11,878 345,079 SH   SOLE   260,379 0 0
CASELLA WASTE SYSTEMS INC. Common 147448104 8,851 859,348 SH   SOLE   429,950 0 0
CECO ENVIRONMENTAL CORP Common 125141101 6,356 563,457 SH   SOLE   281,400 0 0
CENTRAL GARDEN AND PET CO - A Common 153527205 12,005 484,079 SH   SOLE   333,092 0 0
CENTRAL GARDEN AND PET CO. Common 153527106 1,207 46,441 SH   SOLE   20,681 0 0
COLUMBUS MCKINNON N Y COM Common 199333105 8,784 492,375 SH   SOLE   245,970 0 0
CPI AEROSTRUCTURES INC Common 125919308 4,127 601,609 SH   SOLE   299,857 0 0
DESTINATION XL GROUP, INC Common 25065K104 7,283 1,681,939 SH   SOLE   841,550 0 0
DMC GLOBAL INC Common 23291C103 6,544 613,850 SH   SOLE   307,550 0 0
FIRST CONNECTICUT BANCORP, INC. Common 319850103 7,626 428,640 SH   SOLE   216,619 0 0
FRP HOLDINGS INC Common 30292L107 7,932 255,307 SH   SOLE   127,722 0 0
GLOBAL POWER EQUIPMENT GROUP Common 37941P306 2,107 506,433 SH   SOLE   254,215 0 0
GRANITE CONSTRUCTION INC Common 387328107 12,566 252,639 SH   SOLE   187,689 0 0
GREAT LAKES DREDGE & DOCK CO Common 390607109 6,785 1,938,666 SH   SOLE   1,293,558 0 0
GREENHILL & CO INC. Common 395259104 19,494 827,050 SH   SOLE   613,700 0 0
HAEMONETICS CORPORATION Common 405024100 18,774 518,487 SH   SOLE   385,137 0 0
HARSCO CORP Common 415864107 9,583 965,081 SH   SOLE   737,834 0 0
HEADWATERS INC. Common 42210P102 7,198 425,418 SH   SOLE   315,956 0 0
HILL INTERNATIONAL INC. Common 431466101 8,530 1,850,238 SH   SOLE   930,050 0 0
HOMETRUST BANCSHARES INC Common 437872104 5,836 315,458 SH   SOLE   157,782 0 0
HORIZON GLOBAL CORPORATION Common 44052W104 8,866 444,875 SH   SOLE   222,600 0 0
HOUSTON WIRE & CABLE COMPANY Common 44244K109 9,024 1,457,811 SH   SOLE   729,350 0 0
INNERWORKINGS INC Common 45773Y105 17,031 1,807,981 SH   SOLE   1,360,786 0 0
INNOPHOS HOLDINGS INC. Common 45774N108 5,067 129,829 SH   SOLE   97,629 0 0
KEY TECHNOLOGY INC Common 493143101 1,320 120,009 SH   SOLE   58,239 0 0
LAYNE CHRISTENSEN COMPANY Common 521050104 11,171 1,312,687 SH   SOLE   971,613 0 0
LIBBEY INC Common 529898108 8,443 472,978 SH   SOLE   236,641 0 0
LIBERTY TAX INC Common 53128T102 7,126 557,587 SH   SOLE   278,900 0 0
LMI AEROSPACE Common 502079106 4,967 696,593 SH   SOLE   347,000 0 0
MAIDEN HOLDINGS LTD Common 036419750 14,845 1,169,827 SH   SOLE   869,573 0 0
MANITEX INTERNATIONAL INC Common 563420108 7,764 1,409,041 SH   SOLE   705,200 0 0
MANITOWOC COMPANY, INC. Common 563571405 16,513 3,447,346 SH   SOLE   2,560,496 0 0
MARINEMAX INC Common 567908108 8,780 419,073 SH   SOLE   209,691 0 0
MISTRAS GROUP INC. Common 60649T107 15,685 668,281 SH   SOLE   503,286 0 0
NCI BUILDING SYSTEMS INC Common 628852204 16,236 1,112,823 SH   SOLE   837,512 0 0
NORTHERN TECHNOLOGIES INTL Common 665809109 3,568 283,206 SH   SOLE   141,750 0 0
PATRIOT TRANSPORTATION HOLDING Common 70338W105 897 43,251 SH   SOLE   21,822 0 0
PLY GEM HOLDINGS INC. Common 72941W100 15,837 1,185,427 SH   SOLE   878,777 0 0
POWELL INDUSTRIES INC Common 739128106 14,361 358,585 SH   SOLE   266,445 0 0
QAD INC Common 74727D306 8,204 366,596 SH   SOLE   183,796 0 0
QAD INC-B Common 74727D207 19 972 SH   SOLE   672 0 0
REGIS CORP Common 758932107 12,363 985,102 SH   SOLE   737,449 0 0
SCHNITZER STEEL INDUSTRIES, INC. Common 806882106 17,633 843,702 SH   SOLE   629,811 0 0
SPX FLOW INC. Common 78469X107 18,468 597,291 SH   SOLE   443,791 0 0
STONERIDGE INC. Common 86183P102 5,607 304,739 SH   SOLE   152,574 0 0
TEAM INC Common 878155100 6,581 201,196 SH   SOLE   100,979 0 0
THE CHEFS' WAREHOUSE, INC. Common 163086101 7,823 702,208 SH   SOLE   351,300 0 0
THE CONTAINER STORE GROUP INC Common 210751103 8,418 1,676,881 SH   SOLE   839,200 0 0
THERMON GROUP HOLDINGS, INC. Common 88362T103 2,026 102,564 SH   SOLE   78,664 0 0
TITAN MACHINERY, INC. Common 88830R101 5,405 519,750 SH   SOLE   260,900 0 0
TIVITY HEALTH INC Common 88870R102 16,524 624,497 SH   SOLE   463,547 0 0
TOPBUILD CORP Common 89055F103 16,933 510,022 SH   SOLE   378,772 0 0
TWIN DISC, INCORPORATED Common 901476101 184 15,386 SH   SOLE   7,600 0 0
UMH PROPERTIES INC. Common 903002103 9,268 777,527 SH   SOLE   389,750 0 0
UNITED STATES LIME & MINERALS INC Common 911922102 9,375 142,040 SH   SOLE   71,000 0 0
WILLIS LEASE FINANCE CORPORATION Common 970646105 6,815 286,691 SH   SOLE   142,397 0 0