Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	PINNACLE FINL PARTNERS INC	285,792	$15.63M	4.8%	$59.28	—	COM	72346Q104
PHYS	SPROTT PHYSICAL GOLD TRUST	1,474,918	$15.41M	4.7%	$9.77	—	UNIT	85207H104
BANR	BANNER CORP	266,627	$14.44M	4.4%	$35.54	+23.5%	COM NEW	06652V208
—	CENTERSTATE BK CORP	586,195	$13.96M	4.3%	$15.76	—	COM	15201P109
HWC	HANCOCK WHITNEY CORPORATION	343,103	$13.86M	4.3%	$41.63	-1.6%	COM	410120109
—	IBERIABANK CORP	187,252	$13.43M	4.1%	$77.45	—	COM	450828108
—	SANDY SPRING BANCORP INC	390,501	$12.21M	3.8%	$32.29	—	COM	800363103
—	SYNOVUS FINL CORP	325,773	$11.19M	3.4%	$31.43	—	COM NEW	87161C501
BANC	BANC OF CALIFORNIA INC	724,226	$10.02M	3.1%	$13.01	-1.3%	COM	05990K106
ZION	ZIONS BANCORPORATION N A	218,310	$9.913M	3.0%	$42.47	+12.3%	COM	989701107
—	PEOPLES UTAH BANCORP	361,365	$9.529M	2.9%	$24.48	—	COM	712706209
CMA	COMERICA INC	128,451	$9.418M	2.9%	$40.99	+40.2%	COM	200340107
SBNY	SIGNATURE BK NEW YORK N Y	70,060	$8.973M	2.8%	$111.12	—	COM	82669G104
HFWA	HERITAGE FINL CORP WASH	284,729	$8.579M	2.6%	$19.10	+63.9%	COM	42722X106
TFIN	TRIUMPH BANCORP INC	288,037	$8.465M	2.6%	$36.32	-14.1%	COM	89679E300
—	INDEPENDENT BK GROUP INC	164,496	$8.437M	2.6%	$51.29	—	COM	45384B106
—	VERITEX HLDGS INC	347,136	$8.408M	2.6%	$25.36	—	COM	923451108
FHN	FIRST HORIZON NATL CORP	566,190	$7.915M	2.4%	$12.72	-11.0%	COM	320517105
FBNC	FIRST BANCORP N C	218,011	$7.578M	2.3%	$28.70	+9.3%	COM	318910106
—	SOUTH ST CORP	109,910	$7.511M	2.3%	$74.88	—	COM	840441109
EQBK	EQUITY BANCSHARES INC	253,563	$7.303M	2.2%	$33.09	-7.5%	COM CL A	29460X109
ISTR	INVESTAR HLDG CORP	313,821	$7.127M	2.2%	$23.21	+1.6%	COM	46134L105
RF	REGIONS FINL CORP NEW	435,059	$6.156M	1.9%	$8.65	+33.3%	COM	7591EP100
ABCB	AMERIS BANCORP	171,289	$5.884M	1.8%	$41.84	-19.7%	COM	03076K108
—	KLX ENERGY SERVICS HOLDNGS I	215,000	$5.405M	1.7%	$32.01	—	COM	48253L106
—	MACQUARIE INFRASTRUCTURE COR	114,084	$4.703M	1.4%	$38.91	—	COM	55608B105
OBK	ORIGIN BANCORP INC	129,264	$4.401M	1.4%	$38.81	-10.3%	COM	68621T102
HTH	HILLTOP HOLDINGS INC	239,598	$4.373M	1.3%	$18.58	0.0%	COM	432748101
CMCO	COLUMBUS MCKINNON CORP N Y	124,565	$4.279M	1.3%	$24.23	+35.2%	COM	199333105
—	ENCORE WIRE CORP	73,651	$4.214M	1.3%	$43.41	—	COM	292562105
SMBK	SMARTFINANCIAL INC	221,337	$4.185M	1.3%	$21.73	-12.1%	COM NEW	83190L208
—	UNIVERSAL STAINLESS & ALLOY	251,444	$4.166M	1.3%	$22.48	—	COM	913837100
—	BMC STK HLDGS INC	230,008	$4.064M	1.2%	$18.72	—	COM	05591B109
—	PACWEST BANCORP DEL	107,090	$4.028M	1.2%	$45.23	—	COM	695263103
GBCI	GLACIER BANCORP INC NEW	89,322	$3.579M	1.1%	$20.66	+63.4%	COM	37637Q105
GDX	VANECK VECTORS ETF TR	151,000	$3.385M	1.0%	$21.49	—	GOLD MINERS ETF	92189F106
NEM	NEWMONT MNG CORP	93,850	$3.357M	1.0%	$26.46	+3.3%	COM	651639106
FNV	FRANCO NEVADA CORP	44,000	$3.302M	1.0%	$64.58	+7.8%	COM	351858105
—	AIR TRANSPORT SERVICES GRP I	142,905	$3.294M	1.0%	$22.06	—	COM	00922R105
—	UNIVAR INC	147,626	$3.271M	1.0%	$22.16	—	COM	91336L107
FBK	FB FINL CORP	101,204	$3.214M	1.0%	$32.61	-3.9%	COM	30257X104
—	CBTX INC	88,394	$2.87M	0.9%	$32.60	—	COM	12481V104
—	FIRST BANCSHARES INC MS	89,945	$2.779M	0.9%	$34.20	—	COM	318916103
SRI	STONERIDGE INC	80,000	$2.309M	0.7%	$30.13	-9.3%	COM	86183P102
—	CONTURA ENERGY INC	30,872	$1.788M	0.5%	$65.74	—	COM	21241B100
TUSK	MAMMOTH ENERGY SVCS INC	87,500	$1.457M	0.4%	$24.57	-13.1%	COM	56155L108
VEU	VANGUARD INTL EQUITY INDEX F	17,623	$884K	0.3%	$48.76	—	ALLWRLD EX US	922042775
—	NATIONAL COMM CORP	21,434	$840K	0.3%	$27.53	—	COM	63546L102
PID	INVESCO EXCHANGE TRADED FD T	47,500	$754K	0.2%	$15.60	—	INTL DIVI ACHI	46137V548
EFA	ISHARES TR	9,000	$584K	0.2%	$57.33	—	MSCI EAFE ETF	464287465
WM	WASTE MGMT INC DEL	5,606	$583K	0.2%	$38.48	+126.1%	COM	94106L109
DVY	ISHARES TR	5,484	$538K	0.2%	$64.00	—	SELECT DIVID ETF	464287168
—	VANGUARD WORLD FDS	2,400	$482K	0.1%	$200.83	—	INF TECH ETF	92204a702
FNF	FIDELITY NATIONAL FINANCIAL	10,281	$376K	0.1%	$15.86	+56.6%	FNF GROUP COM	31620R303
JNJ	JOHNSON & JOHNSON	1,550	$217K	0.1%	$59.66	+85.0%	COM	478160104
—	ALPS ETF TR	17,300	$174K	0.1%	$10.06	—	ALERIAN MLP	00162Q866