Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	VERITEX HLDGS INC	560,558	$15.76M	5.0%	$25.23	—	COM	923451108
PHYS	SPROTT PHYSICAL GOLD TRUST	1,448,500	$14.8M	4.7%	$9.75	—	UNIT	85207H104
—	ATLANTIC CAP BANCSHARES INC	777,581	$14.73M	4.7%	$17.17	—	COM	048269203
—	SYNOVUS FINL CORP	333,112	$13.66M	4.4%	$29.57	—	COM NEW	87161C501
—	GUARANTY BANCORP DEL	541,833	$13.19M	4.2%	$17.83	—	COM NEW	40075T607
CMA	COMERICA INC	184,001	$12.62M	4.0%	$25.90	+86.3%	COM	200340107
—	CENTERSTATE BANKS INC	479,714	$12.43M	4.0%	$10.02	—	COM	15201P109
BANR	BANNER CORP	222,982	$12.41M	4.0%	$26.59	+55.0%	COM NEW	06652V208
BANC	BANC OF CALIFORNIA INC	577,276	$11.95M	3.8%	$10.62	+42.7%	COM	05990K106
—	PEOPLES UTAH BANCORP	437,028	$11.56M	3.7%	$24.14	—	COM	712706209
RF	REGIONS FINL CORP NEW	767,239	$11.15M	3.6%	$6.16	+72.1%	COM	7591EP100
—	NATIONAL COMM CORP	294,641	$10.78M	3.4%	$25.70	—	COM	63546L102
—	SANDY SPRING BANCORP INC	255,512	$10.47M	3.3%	$25.77	—	COM	800363103
HFWA	HERITAGE FINL CORP WASH	371,769	$9.201M	2.9%	$15.82	+58.3%	COM	42722X106
EQBK	EQUITY BANCSHARES INC	267,783	$8.507M	2.7%	$29.57	+3.7%	COM CL A	29460X109
ZION	ZIONS BANCORPORATION	198,600	$8.341M	2.7%	$37.46	+15.9%	COM	989701107
—	BNC BANCORP	234,544	$8.221M	2.6%	$16.87	—	COM	05566T101
—	UMPQUA HLDGS CORP	457,368	$8.114M	2.6%	$17.66	—	COM	904214103
—	SUNTRUST BKS INC	143,492	$7.935M	2.5%	$39.10	—	COM	867914103
—	SOUTH ST CORP	88,543	$7.911M	2.5%	$61.41	—	COM	840441109
—	PARK STERLING CORP	594,462	$7.318M	2.3%	$8.31	—	COM	70086Y105
FHN	FIRST HORIZON NATL CORP	388,300	$7.184M	2.3%	$14.36	0.0%	COM	320517105
—	STONEGATE BK FT LAUDERDALE F	128,548	$6.053M	1.9%	$35.22	—	COM	861811107
HWC	HANCOCK HLDG CO	128,826	$5.868M	1.9%	$29.80	+53.2%	COM	410120109
—	PACWEST BANCORP DEL	108,787	$5.794M	1.8%	$41.37	—	COM	695263103
—	GREEN PLAINS PARTNERS LP	277,546	$5.579M	1.8%	$15.11	—	COM REP PTR IN	393221106
EGBN	EAGLE BANCORP INC MD	86,851	$5.185M	1.7%	$17.46	+171.2%	COM	268948106
GBCI	GLACIER BANCORP INC NEW	151,354	$5.135M	1.6%	$14.64	+82.4%	COM	37637Q105
SMBK	SMARTFINANCIAL INC	239,421	$5.037M	1.6%	$20.81	0.0%	COM NEW	83190L208
—	KLX INC	98,650	$4.41M	1.4%	$31.00	—	COM	482539103
—	ENCORE WIRE CORP	87,707	$4.035M	1.3%	$41.42	—	COM	292562105
KLIC	KULICKE & SOFFA INDS INC	183,641	$3.732M	1.2%	$11.58	+44.9%	COM	501242101
CMCO	COLUMBUS MCKINNON CORP N Y	141,420	$3.51M	1.1%	$19.52	+25.6%	COM	199333105
—	BMC STK HLDGS INC	148,760	$3.362M	1.1%	$22.60	—	COM	05591B109
ABCB	AMERIS BANCORP	65,000	$2.997M	1.0%	$40.59	0.0%	COM	03076K108
—	PINNACLE FINL PARTNERS INC	40,221	$2.673M	0.9%	$47.04	—	COM	72346Q104
—	TEAM INC	96,852	$2.62M	0.8%	$29.68	—	COM	878155100
RRGB	RED ROBIN GOURMET BURGERS IN	30,000	$1.754M	0.6%	$50.22	0.0%	COM	75689M101
ISTR	INVESTAR HLDG CORP	72,321	$1.584M	0.5%	$20.29	0.0%	COM	46134L105
DVY	ISHARES TR	9,500	$865K	0.3%	$64.00	—	SELECT DIVID ETF	464287168
—	POWERSHARES ETF TRUST	47,500	$714K	0.2%	$16.42	—	INTL DIV ACHV	73935X716
EFA	ISHARES TR	9,000	$561K	0.2%	$57.33	—	MSCI EAFE ETF	464287465
WM	WASTE MGMT INC DEL	6,760	$493K	0.2%	$38.48	+58.4%	COM	94106L109
FNF	FIDELITY NATIONAL FINANCIAL	11,781	$459K	0.1%	$15.86	+12.2%	FNF GROUP COM	31620R303
—	MACQUARIE INFRASTRUCTURE COR	5,084	$410K	0.1%	$60.64	—	COM	55608B105
—	ALLEGIANCE BANCSHARES INC	10,382	$386K	0.1%	$37.18	—	COM	01748H107
JNJ	JOHNSON & JOHNSON	3,050	$380K	0.1%	$59.66	+56.5%	COM	478160104
—	VANGUARD WORLD FDS	2,400	$326K	0.1%	$80.83	—	INF TECH ETF	92204a702
VEU	VANGUARD INTL EQUITY INDEX F	4,926	$293K	0.1%	$50.28	—	ALLWRLD EX US	922042775
VWO	VANGUARD INTL EQUITY INDEX F	7,174	$285K	0.1%	$38.25	—	FTSE EMR MKT ETF	922042858
PG	PROCTER AND GAMBLE CO	2,560	$230K	0.1%	$55.00	+27.3%	COM	742718109
—	UNITI GROUP INC	7,200	$186K	0.1%	$25.83	—	COM	91325V108
—	ROYAL DUTCH SHELL PLC	2,800	$156K	0.0%	$57.86	—	SPON ADR B	780259107
—	SEMGROUP CORP	3,750	$135K	0.0%	$27.52	—	CL A	81663A105