Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	VERITEX HLDGS INC	588,048	$15.48M	4.6%	$25.28	—	COM	923451108
—	ATLANTIC CAP BANCSHARES INC	777,581	$14.77M	4.4%	$17.17	—	COM	048269203
—	GUARANTY BANCORP DEL	541,833	$14.74M	4.4%	$17.83	—	COM NEW	40075T607
PHYS	SPROTT PHYSICAL GOLD TRUST	1,448,500	$14.67M	4.4%	$9.75	—	UNIT	85207H104
—	SYNOVUS FINL CORP	308,112	$13.63M	4.1%	$29.57	—	COM NEW	87161C501
CMA	COMERICA INC	184,001	$13.48M	4.0%	$25.90	+88.0%	COM	200340107
BANR	BANNER CORP	236,482	$13.36M	4.0%	$27.35	+45.9%	COM NEW	06652V208
BANC	BANC OF CALIFORNIA INC	558,776	$12.01M	3.6%	$10.62	+62.9%	COM	05990K106
—	CENTERSTATE BANKS INC	479,714	$11.93M	3.6%	$10.02	—	COM	15201P109
—	PEOPLES UTAH BANCORP	437,028	$11.71M	3.5%	$24.14	—	COM	712706209
—	NATIONAL COMM CORP	294,641	$11.65M	3.5%	$25.70	—	COM	63546L102
RF	REGIONS FINL CORP NEW	712,239	$10.43M	3.1%	$6.16	+64.9%	COM	7591EP100
—	SANDY SPRING BANCORP INC	255,512	$10.39M	3.1%	$25.77	—	COM	800363103
HFWA	HERITAGE FINL CORP WASH	376,686	$9.982M	3.0%	$15.94	+57.3%	COM	42722X106
FBK	FB FINL CORP	275,000	$9.952M	3.0%	$32.41	0.0%	COM	30257X104
EQBK	EQUITY BANCSHARES INC	319,692	$9.795M	2.9%	$29.48	-1.6%	COM CL A	29460X109
ZION	ZIONS BANCORPORATION	198,600	$8.721M	2.6%	$37.46	+9.9%	COM	989701107
—	UMPQUA HLDGS CORP	457,368	$8.397M	2.5%	$17.66	—	COM	904214103
FHN	FIRST HORIZON NATL CORP	456,300	$7.949M	2.4%	$14.17	-7.8%	COM	320517105
—	PINNACLE FINL PARTNERS INC	122,783	$7.711M	2.3%	$57.64	—	COM	72346Q104
—	SOUTH ST CORP	88,543	$7.588M	2.3%	$61.41	—	COM	840441109
—	PARK STERLING CORP	594,462	$7.062M	2.1%	$8.31	—	COM	70086Y105
SMBK	SMARTFINANCIAL INC	284,463	$6.793M	2.0%	$21.14	+8.3%	COM NEW	83190L208
ISTR	INVESTAR HLDG CORP	296,284	$6.785M	2.0%	$21.92	+2.4%	COM	46134L105
HWC	HANCOCK HLDG CO	128,826	$6.312M	1.9%	$29.80	+58.0%	COM	410120109
—	SUNTRUST BKS INC	106,492	$6.04M	1.8%	$39.10	—	COM	867914103
—	STONEGATE BK FT LAUDERDALE F	128,548	$5.936M	1.8%	$35.22	—	COM	861811107
GBCI	GLACIER BANCORP INC NEW	151,354	$5.541M	1.7%	$14.64	+77.3%	COM	37637Q105
EGBN	EAGLE BANCORP INC MD	86,851	$5.498M	1.6%	$17.46	+167.3%	COM	268948106
—	PACWEST BANCORP DEL	108,787	$5.08M	1.5%	$41.37	—	COM	695263103
—	KLX INC	98,650	$4.933M	1.5%	$31.00	—	COM	482539103
—	GREEN PLAINS PARTNERS LP	263,546	$4.928M	1.5%	$15.11	—	COM REP PTR IN	393221106
—	ENCORE WIRE CORP	87,707	$3.745M	1.1%	$41.42	—	COM	292562105
CMCO	COLUMBUS MCKINNON CORP N Y	141,420	$3.595M	1.1%	$19.52	+23.8%	COM	199333105
—	BMC STK HLDGS INC	148,760	$3.25M	1.0%	$22.60	—	COM	05591B109
—	AIR TRANSPORT SERVICES GRP I	142,905	$3.112M	0.9%	$21.78	—	COM	00922R105
—	PACIFIC PREMIER BANCORP	79,991	$2.952M	0.9%	$36.90	—	COM	69478X105
KLIC	KULICKE & SOFFA INDS INC	147,641	$2.808M	0.8%	$11.58	+58.6%	COM	501242101
MG	MISTRAS GROUP INC	105,000	$2.307M	0.7%	$21.52	0.0%	COM	60649T107
—	NEXEO SOLUTIONS INC	258,614	$2.063M	0.6%	$7.98	—	COM SHS	65342H102
—	TEAM INC	39,452	$925K	0.3%	$29.68	—	COM	878155100
DVY	ISHARES TR	9,500	$876K	0.3%	$64.00	—	SELECT DIVID ETF	464287168
—	POWERSHARES ETF TRUST	47,500	$730K	0.2%	$16.42	—	INTL DIV ACHV	73935X716
EFA	ISHARES TR	9,000	$587K	0.2%	$57.33	—	MSCI EAFE ETF	464287465
FNF	FIDELITY NATIONAL FINANCIAL	11,781	$528K	0.2%	$15.86	+27.9%	FNF GROUP COM	31620R303
WM	WASTE MGMT INC DEL	6,760	$496K	0.1%	$38.48	+62.5%	COM	94106L109
JNJ	JOHNSON & JOHNSON	3,050	$403K	0.1%	$59.66	+68.3%	COM	478160104
—	MACQUARIE INFRASTRUCTURE COR	5,084	$399K	0.1%	$60.64	—	COM	55608B105
—	VANGUARD WORLD FDS	2,400	$338K	0.1%	$80.83	—	INF TECH ETF	92204a702
VEU	VANGUARD INTL EQUITY INDEX F	6,126	$306K	0.1%	$50.21	—	ALLWRLD EX US	922042775
VWO	VANGUARD INTL EQUITY INDEX F	7,174	$293K	0.1%	$38.25	—	FTSE EMR MKT ETF	922042858
PG	PROCTER AND GAMBLE CO	2,560	$223K	0.1%	$55.00	+27.5%	COM	742718109
PSLV	SPROTT PHYSICAL SILVER TR	18,310	$116K	0.0%	$6.34	—	TR UNIT	85207K107