Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	VERITEX HLDGS INC	591,417	$18.38M	4.8%	$25.36	—	COM	923451108
—	CENTERSTATE BK CORP	521,888	$15.56M	4.1%	$11.36	—	COM	15201P109
—	SYNOVUS FINL CORP	294,112	$15.54M	4.1%	$30.60	—	COM NEW	87161C501
—	PEOPLES UTAH BANCORP	434,589	$15.52M	4.1%	$24.48	—	COM	712706209
—	SANDY SPRING BANCORP INC	375,262	$15.39M	4.0%	$30.03	—	COM	800363103
—	GUARANTY BANCORP DEL	514,973	$15.35M	4.0%	$17.83	—	COM NEW	40075T607
TFIN	TRIUMPH BANCORP INC	369,720	$15.07M	3.9%	$34.93	+15.7%	COM	89679E300
PHYS	SPROTT PHYSICAL GOLD TRUST	1,448,500	$14.75M	3.9%	$9.76	—	UNIT	85207H104
—	NATIONAL COMM CORP	298,181	$13.81M	3.6%	$25.87	—	COM	63546L102
ZION	ZIONS BANCORPORATION	258,600	$13.63M	3.6%	$41.32	+33.6%	COM	989701107
BANC	BANC OF CALIFORNIA INC	646,673	$12.64M	3.3%	$11.68	+37.8%	COM	05990K106
EQBK	EQUITY BANCSHARES INC	303,342	$12.58M	3.3%	$32.26	+17.5%	COM CL A	29460X109
HFWA	HERITAGE FINL CORP WASH	354,117	$12.34M	3.2%	$16.35	+96.0%	COM	42722X106
—	PINNACLE FINL PARTNERS INC	195,546	$12M	3.1%	$60.81	—	COM	72346Q104
BANR	BANNER CORP	180,360	$10.85M	2.8%	$27.35	+61.5%	COM NEW	06652V208
CMA	COMERICA INC	116,666	$10.61M	2.8%	$25.90	+160.3%	COM	200340107
—	PACWEST BANCORP DEL	206,287	$10.2M	2.7%	$45.33	—	COM	695263103
FHN	FIRST HORIZON NATL CORP	503,200	$8.977M	2.3%	$14.20	-0.5%	COM	320517105
GBCI	GLACIER BANCORP INC NEW	218,854	$8.465M	2.2%	$18.29	+67.1%	COM	37637Q105
ISTR	INVESTAR HLDG CORP	306,124	$8.464M	2.2%	$21.96	+22.4%	COM	46134L105
SMBK	SMARTFINANCIAL INC	326,784	$8.418M	2.2%	$21.35	+14.7%	COM NEW	83190L208
—	IBERIABANK CORP	110,525	$8.378M	2.2%	$75.80	—	COM	450828108
FBNC	FIRST BANCORP N C	195,826	$8.011M	2.1%	$26.42	+27.3%	COM	318910106
RF	REGIONS FINL CORP NEW	440,344	$7.829M	2.0%	$6.50	+112.2%	COM	7591EP100
—	SOUTH ST CORP	86,352	$7.448M	1.9%	$73.81	—	COM	840441109
—	UMPQUA HLDGS CORP	301,368	$6.808M	1.8%	$17.69	—	COM	904214103
—	COBIZ FINANCIAL INC	303,157	$6.512M	1.7%	$19.65	—	COM	190897108
HWC	HANCOCK WHITNEY CORPORATION	137,826	$6.43M	1.7%	$30.84	+64.5%	COM	410120109
OBK	ORIGIN BANCORP INC	150,000	$6.141M	1.6%	$38.81	0.0%	COM	68621T102
—	UNIVERSAL STAINLESS & ALLOY	256,598	$6.074M	1.6%	$22.63	—	COM	913837100
FBK	FB FINL CORP	141,299	$5.754M	1.5%	$32.61	+14.3%	COM	30257X104
CMCO	COLUMBUS MCKINNON CORP N Y	122,565	$5.314M	1.4%	$22.08	+64.6%	COM	199333105
—	MACQUARIE INFRASTRUCTURE COR	114,084	$4.814M	1.3%	$38.91	—	COM	55608B105
—	FIRST BANCSHARES INC MS	128,277	$4.612M	1.2%	$34.20	—	COM	318916103
—	AIR TRANSPORT SERVICES GRP I	196,905	$4.448M	1.2%	$22.13	—	COM	00922R105
—	CBTX INC	124,700	$4.121M	1.1%	$29.66	—	COM	12481V104
—	BMC STK HLDGS INC	182,258	$3.8M	1.0%	$22.62	—	COM	05591B109
—	NEXEO SOLUTIONS INC	411,096	$3.661M	1.0%	$7.90	—	COM SHS	65342H102
—	ENCORE WIRE CORP	72,781	$3.453M	0.9%	$41.60	—	COM	292562105
MG	MISTRAS GROUP INC	105,000	$1.982M	0.5%	$21.52	-9.6%	COM	60649T107
—	GREEN PLAINS PARTNERS LP	115,311	$1.978M	0.5%	$15.37	—	COM REP PTR IN	393221106
—	KLX INC	23,354	$1.679M	0.4%	$31.00	—	COM	482539103
PID	INVESCO EXCHANGE TRADED FD T	47,500	$741K	0.2%	$15.60	—	INTL DIVI ACHI	46137V548
EFA	ISHARES TR	9,000	$603K	0.2%	$57.33	—	MSCI EAFE ETF	464287465
DVY	ISHARES TR	5,484	$536K	0.1%	$64.00	—	SELECT DIVID ETF	464287168
VWO	VANGUARD INTL EQUITY INDEX F	12,211	$515K	0.1%	$41.74	—	FTSE EMR MKT ETF	922042858
VEU	VANGUARD INTL EQUITY INDEX F	9,263	$480K	0.1%	$51.63	—	ALLWRLD EX US	922042775
WM	WASTE MGMT INC DEL	5,606	$456K	0.1%	$38.48	+88.9%	COM	94106L109
VGT	VANGUARD WORLD FDS	2,400	$435K	0.1%	$170.83	—	INF TECH ETF	92204A702
FNF	FIDELITY NATIONAL FINANCIAL	10,281	$387K	0.1%	$15.86	+65.9%	FNF GROUP COM	31620R303
JNJ	JOHNSON & JOHNSON	3,050	$370K	0.1%	$59.66	+68.8%	COM	478160104
—	ROYAL DUTCH SHELL PLC	2,800	$203K	0.1%	$72.50	—	SPON ADR B	780259107