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
A10 Networks Inc Com 002121101 2,518 186,780 SH   SOLE   186,780 0 0
ABM Industries Inc Com 000957100 2,648 58,821 SH   SOLE   58,821 0 0
AZZ Inc Com 002474104 3,683 69,236 SH   SOLE   69,236 0 0
Accuray Inc Com 004397105 1,155 292,510 SH   SOLE   292,510 0 0
Albany International Corp Com 012348108 2,792 36,315 SH   SOLE   36,315 0 0
Alico Inc Com 016230104 1,818 53,100 SH   SOLE   53,100 0 0
Alight Inc Com 01626W101 2,680 233,470 SH   SOLE   233,470 0 0
Allied Motion Technologies Inc Com 019330109 4,528 144,763 SH   SOLE   144,763 0 0
Ameresco Inc Com 02361E108 2,191 37,504 SH   SOLE   37,504 0 0
Apria Inc Com 03836A101 2,738 73,698 SH   SOLE   73,698 0 0
Arrow Financial Corp Com 042744102 2,268 65,994 SH   SOLE   65,994 0 0
Axcelis Technologies Inc Com 054540208 2,474 52,614 SH   SOLE   52,614 0 0
Axis Capital Holdings Limited Com G0692U109 739 16,059 SH   SOLE   16,059 0 0
Baycom Corp. Com 07272M107 2,212 118,940 SH   SOLE   118,940 0 0
Beacon Roofing Supply Inc Com 073685109 2,644 55,350 SH   SOLE   55,350 0 0
COHU Inc Com 192576106 2,760 86,400 SH   SOLE   86,400 0 0
Cambridge Bancorp Com 132152109 2,165 24,600 SH   SOLE   24,600 0 0
Camden National Corp Com 133034108 5,890 122,963 SH   SOLE   122,963 0 0
Catchmark Timber Trust Inc Com 14912Y202 2,163 182,250 SH   SOLE   182,250 0 0
Cavco Industries Inc Com 149568107 2,802 11,836 SH   SOLE   11,836 0 0
Central Valley Community Banco Com 155685100 2,340 108,846 SH   SOLE   108,846 0 0
Chase Corporation Com 16150R104 1,995 19,530 SH   SOLE   19,530 0 0
Chesapeake Energy Corp Com 165167735 2,842 46,150 SH   SOLE   46,150 0 0
Citi Trends Inc Com 17306X102 1,531 20,980 SH   SOLE   20,980 0 0
City Holding Company Com 177835105 3,616 46,407 SH   SOLE   46,407 0 0
Cleveland-Cliffs Inc Com 185899101 3,487 176,030 SH   SOLE   176,030 0 0
Columbia Banking Systems Inc Com 197236102 2,651 69,792 SH   SOLE   69,792 0 0
Comfort Systems USA Inc Com 199908104 911 12,770 SH   SOLE   12,770 0 0
Commercial Metals Co Com 201723103 3,443 113,042 SH   SOLE   113,042 0 0
Concentrix Corp. Com 20602D101 3,952 22,330 SH   SOLE   22,330 0 0
DLH Holdings Corp Com 23335Q100 2,690 218,660 SH   SOLE   218,660 0 0
EMCOR Group Inc Com 29084Q100 2,336 20,248 SH   SOLE   20,248 0 0
EPR Properties Com 26884U109 3,443 69,715 SH   SOLE   69,715 0 0
Eastern Bankshares Inc Com 27627N105 2,682 132,100 SH   SOLE   132,100 0 0
Encompass Health Corporation Com 29261A100 2,675 35,654 SH   SOLE   35,654 0 0
Ethan Allen Interiors Inc Com 297602104 1,984 83,710 SH   SOLE   83,710 0 0
FTS International Inc Com 30283W302 2,158 87,740 SH   SOLE   87,740 0 0
Farmers National Banc Corp Com 309627107 2,041 129,920 SH   SOLE   129,920 0 0
Federal Agricultural Mortgage Com 313148306 2,924 26,940 SH   SOLE   26,940 0 0
Financial Institutions Inc Com 317585404 2,520 82,210 SH   SOLE   82,210 0 0
First American Financial Corp Com 31847R102 1,472 21,957 SH   SOLE   21,957 0 0
First Bancorp N.C. Com 318910106 3,672 85,376 SH   SOLE   85,376 0 0
First Community Corp. Com 319835104 2,354 118,870 SH   SOLE   118,870 0 0
First Financial Corp Com 320218100 3,675 87,394 SH   SOLE   87,394 0 0
G-III Apparel Group Limited Com 36237H101 2,953 104,360 SH   SOLE   104,360 0 0
Global Industrial Company Com 37892E102 2,149 56,729 SH   SOLE   56,729 0 0
Global Medical REIT Inc Com 37954A204 2,672 181,751 SH   SOLE   181,751 0 0
Goodrich Petroleum Corp Com 382410843 3,695 156,170 SH   SOLE   156,170 0 0
Granite Construction Inc Com 387328107 3,133 79,210 SH   SOLE   79,210 0 0
Great Lakes Dredge & Dock Corp Com 390607109 5,822 385,829 SH   SOLE   385,829 0 0
Great Southern Bancorp Com 390905107 5,853 106,792 SH   SOLE   106,792 0 0
Green Dot Corp Com 39304D102 3,883 77,148 SH   SOLE   77,148 0 0
Gulfport Energy Corp Com 402635502 3,464 42,135 SH   SOLE   42,135 0 0
Hackett Group Inc Com 404609109 2,604 132,720 SH   SOLE   132,720 0 0
Hancock Whitney Corporation Com 410120109 2,882 61,160 SH   SOLE   61,160 0 0
Hawkins Inc Com 420261109 2,416 69,270 SH   SOLE   69,270 0 0
Heartland Financial USA Inc Com 42234Q102 3,702 76,993 SH   SOLE   76,993 0 0
Heritage Crystal Clean Inc Com 42726M106 3,853 132,945 SH   SOLE   132,945 0 0
Holley Inc Com 43538H103 2,762 231,320 SH   SOLE   231,320 0 0
Horizon Bancorp Inc Com 440407104 3,086 169,849 SH   SOLE   169,849 0 0
Hub Group Inc Com 443320106 3,090 44,940 SH   SOLE   44,940 0 0
Ichor Holdings Com G4740B105 2,035 49,520 SH   SOLE   49,520 0 0
Independent Bank Corp Com 453836108 2,869 37,680 SH   SOLE   37,680 0 0
Independent Bank Group Inc Com 45384B106 2,596 36,540 SH   SOLE   36,540 0 0
Industrial Logistics Propertie Com 456237106 2,364 93,048 SH   SOLE   93,048 0 0
Investors Title Company Com 461804106 2,058 11,272 SH   SOLE   11,272 0 0
Jack in the Box Inc Com 466367109 1,351 13,880 SH   SOLE   13,880 0 0
Kimball Electronics Inc Com 49428J109 6,567 254,847 SH   SOLE   254,847 0 0
Kirby Corporation Com 497266106 2,692 56,120 SH   SOLE   56,120 0 0
Knowles Corp Com 49926D109 2,247 119,903 SH   SOLE   119,903 0 0
Kulicke & Soffa Industries Inc Com 501242101 1,959 33,616 SH   SOLE   33,616 0 0
LCI Industries Com 50189K103 2,113 15,695 SH   SOLE   15,695 0 0
LSI Industries Com 50216C108 2,825 364,521 SH   SOLE   364,521 0 0
Lakeland Financial Corp Com 511656100 2,221 31,176 SH   SOLE   31,176 0 0
Legacy Housing Corp Com 52472M101 1,884 104,860 SH   SOLE   104,860 0 0
M/I Homes Inc Com 55305B101 2,653 45,905 SH   SOLE   45,905 0 0
Marinemax Inc Com 567908108 1,725 35,550 SH   SOLE   35,550 0 0
Mastercraft Boat Holdings Inc Com 57637H103 2,467 98,360 SH   SOLE   98,360 0 0
Materion Corp Com 576690101 2,786 40,585 SH   SOLE   40,585 0 0
Maximus Inc Com 577933104 2,724 32,746 SH   SOLE   32,746 0 0
McGrath Rentcorp Com 580589109 2,080 28,912 SH   SOLE   28,912 0 0
Mercer Int'l Inc Com 588056101 6,111 527,306 SH   SOLE   527,306 0 0
Merit Medical Systems Inc Com 589889104 2,317 32,267 SH   SOLE   32,267 0 0
Methode Electronics Inc Com 591520200 3,248 77,240 SH   SOLE   77,240 0 0
Mitek Systems Inc Com 606710200 1,512 81,717 SH   SOLE   81,717 0 0
Monro Muffler Brake Inc Com 610236101 3,744 65,096 SH   SOLE   65,096 0 0
Mueller Industries Inc Com 624756102 1,872 45,542 SH   SOLE   45,542 0 0
NBT Bancorp Inc Com 628778102 3,676 101,767 SH   SOLE   101,767 0 0
NI Holdings Inc Com 65342T106 1,601 91,190 SH   SOLE   91,190 0 0
NMI Holdings Inc Com 629209305 2,888 127,739 SH   SOLE   127,739 0 0
Newpark Resources Inc Com 651718504 1,960 593,910 SH   SOLE   593,910 0 0
Northwestern Corp Com 668074305 2,466 43,029 SH   SOLE   43,029 0 0
Nuvasive Inc Com 670704105 2,487 41,555 SH   SOLE   41,555 0 0
OSI Systems Inc Com 671044105 3,006 31,709 SH   SOLE   31,709 0 0
Oceanfirst Financial Corp Com 675234108 3,055 142,707 SH   SOLE   142,707 0 0
Onto Innovation Inc Com 683344105 1,913 26,476 SH   SOLE   26,476 0 0
Orion Group Holdings Inc Com 68628V308 4,816 885,370 SH   SOLE   885,370 0 0
Pacwest Bancorp Com 695263103 3,365 74,258 SH   SOLE   74,258 0 0
Perdoceo Education Corp Com 71363P106 2,493 236,060 SH   SOLE   236,060 0 0
Photonics Inc Com 719405102 2,269 166,457 SH   SOLE   166,457 0 0
Pinnacle Financial Partners In Com 72346Q104 1,882 20,005 SH   SOLE   20,005 0 0
Plumas Bancorp Com 729273102 2,389 75,650 SH   SOLE   75,650 0 0
Plymouth Industrial Reit Inc Com 729640102 1,625 71,410 SH   SOLE   71,410 0 0
Preformed Line Products Co Com 740444104 2,199 33,805 SH   SOLE   33,805 0 0
Primerica Inc Com 74164M108 2,280 14,842 SH   SOLE   14,842 0 0
QCR Holdings Inc Com 74727A104 2,651 51,540 SH   SOLE   51,540 0 0
Radiant Logistics Inc Com 75025X100 2,095 327,790 SH   SOLE   327,790 0 0
Red River Bancshares Inc Com 75686R202 1,888 37,870 SH   SOLE   37,870 0 0
Ryder System Inc Com 783549108 3,390 40,990 SH   SOLE   40,990 0 0
Seaboard Corp Com 811543107 2,841 693 SH   SOLE   693 0 0
Seacoast Bank Corp of Florida Com 811707801 3,884 114,885 SH   SOLE   114,885 0 0
Shoe Carnival Inc Com 824889109 2,702 83,350 SH   SOLE   83,350 0 0
Sierra Bancorp Com 82620P102 2,005 82,566 SH   SOLE   82,566 0 0
Signet Jewelers Limited Com G81276100 3,524 44,630 SH   SOLE   44,630 0 0
Skyline Champion Corp Com 830830105 3,303 55,003 SH   SOLE   55,003 0 0
Smartfinancial Inc Com 83190L208 2,697 104,542 SH   SOLE   104,542 0 0
Sterling Construction Company Com 859241101 2,303 101,570 SH   SOLE   101,570 0 0
Stewart Information Services C Com 860372101 3,609 57,048 SH   SOLE   57,048 0 0
Stock Yard Bancorp Inc Com 861025104 2,657 45,299 SH   SOLE   45,299 0 0
Tennant Company Com 880345103 3,446 46,600 SH   SOLE   46,600 0 0
Textainer Group Holdings Ltd Com G8766E109 4,372 125,236 SH   SOLE   125,236 0 0
The Marcus Corp Com 566330106 2,634 150,920 SH   SOLE   150,920 0 0
Thermon Group Holdings Inc Com 88362T103 3,350 193,557 SH   SOLE   193,557 0 0
Titan Machinery Inc Com 88830R101 2,497 96,360 SH   SOLE   96,360 0 0
Trico Bancshares Com 896095106 3,356 77,327 SH   SOLE   77,327 0 0
Triton International Ltd Com G9078F107 2,524 48,501 SH   SOLE   48,501 0 0
Triumph Bancorp Inc Com 89679E300 2,631 26,276 SH   SOLE   26,276 0 0
UFP Technologies Inc Com 902673102 2,120 34,420 SH   SOLE   34,420 0 0
UMH Properties Inc Com 903002103 3,937 171,909 SH   SOLE   171,909 0 0
Universal Technical Institute Com 913915104 2,750 406,870 SH   SOLE   406,870 0 0
VSE Corp Com 918284100 3,484 72,330 SH   SOLE   72,330 0 0
Valvoline Inc Com 92047W101 2,787 89,400 SH   SOLE   89,400 0 0
Vectrus Inc Com 92242T101 2,426 48,240 SH   SOLE   48,240 0 0
Vishay Precision Group Inc Com 92835K103 3,554 102,219 SH   SOLE   102,219 0 0
Vista Outdoor Inc Com 928377100 2,440 60,530 SH   SOLE   60,530 0 0
WSFS Financial Corp Com 929328102 3,104 60,503 SH   SOLE   60,503 0 0
Washington Trust Bancorp Inc Com 940610108 3,700 69,844 SH   SOLE   69,844 0 0
Webster Financial Corp Com 947890109 2,913 53,490 SH   SOLE   53,490 0 0
Wesbanco Inc Com 950810101 2,989 87,710 SH   SOLE   87,710 0 0
Willdan Group Inc Com 96924N100 2,499 70,221 SH   SOLE   70,221 0 0
World Fuel Services Corp Com 981475106 2,173 64,633 SH   SOLE   64,633 0 0