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

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COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
AIR TRANSPORT SERVICES GRP ICOM00922R1054,657216,905SH SOLE 216,90500
AMERIS BANCORPCOM03076K1085,941130,000SH SOLE 130,00000
BANC OF CALIFORNIA INCCOM05990K10616,652881,052SH SOLE 881,05200
BANNER CORPCOM NEW06652V20816,178260,225SH SOLE 260,22500
BMC STK HLDGS INCCOM05591B1093,399182,258SH SOLE 182,25800
CBTX INCCOM12481V1048,874249,700SH SOLE 249,70000
CENTERSTATE BK CORPCOM15201P10919,892709,180SH SOLE 709,18000
COBIZ FINANCIAL INCCOM1908971086,712303,157SH SOLE 303,15700
COLUMBUS MCKINNON CORP N YCOM1993331053,89798,565SH SOLE 98,56500
COMERICA INCCOM20034010714,780163,854SH SOLE 163,85400
ENCORE WIRE CORPCOM2925621054,54890,781SH SOLE 90,78100
EQUITY BANCSHARES INCCOM CL A29460X10913,673348,257SH SOLE 348,25700
FB FINL CORPCOM30257X1045,536141,299SH SOLE 141,29900
FIDELITY NATIONAL FINANCIALFNF GROUP COM31620R30340510,281SH SOLE 10,28100
FIRST BANCORP N CCOM31891010610,726264,766SH SOLE 264,76600
FIRST BANCSHARES INC MSCOM3189161035,009128,277SH SOLE 128,27700
FIRST HORIZON NATL CORPCOM32051710515,115875,717SH SOLE 875,71700
FIRST WESTN FINL INCCOM33751L1053,760215,000SH SOLE 215,00000
GLACIER BANCORP INC NEWCOM37637Q10511,067256,829SH SOLE 256,82900
GUARANTY BANCORP DELCOM NEW40075T60712,679426,913SH SOLE 426,91300
HANCOCK WHITNEY CORPORATIONCOM41012010914,825311,773SH SOLE 311,77300
HERITAGE FINL CORP WASHCOM42722X10614,489412,196SH SOLE 412,19600
IBERIABANK CORPCOM45082810815,337188,527SH SOLE 188,52700
INVESCO EXCHANGE TRADED FD TINTL DIVI ACHI46137V54874847,500SH SOLE 47,50000
INVESTAR HLDG CORPCOM46134L10510,796402,080SH SOLE 402,08000
ISHARES TRSELECT DIVID ETF4642871685475,484SH SOLE 5,48400
ISHARES TRMSCI EAFE ETF4642874656129,000SH SOLE 9,00000
JOHNSON & JOHNSONCOM4781601044213,050SH SOLE 3,05000
KLX ENERGY SERVICS HOLDNGS ICOM48253L1066,882215,000SH SOLE 215,00000
MACQUARIE INFRASTRUCTURE CORCOM55608B1055,263114,084SH SOLE 114,08400
MISTRAS GROUP INCCOM60649T1072,275105,000SH SOLE 105,00000
NATIONAL COMM CORPCOM63546L10213,801334,160SH SOLE 334,16000
NEXEO SOLUTIONS INCCOM SHS65342H1025,798473,307SH SOLE 473,30700
ORIGIN BANCORP INCCOM68621T1025,648150,000SH SOLE 150,00000
PACWEST BANCORP DELCOM69526310310,702224,587SH SOLE 224,58700
PEOPLES UTAH BANCORPCOM71270620914,754434,589SH SOLE 434,58900
PINNACLE FINL PARTNERS INCCOM72346Q10415,078250,665SH SOLE 250,66500
REGIONS FINL CORP NEWCOM7591EP10010,813589,286SH SOLE 589,28600
SANDY SPRING BANCORP INCCOM80036310319,506496,215SH SOLE 496,21500
SMARTFINANCIAL INCCOM NEW83190L2088,614365,757SH SOLE 365,75700
SOUTH ST CORPCOM84044110911,753143,324SH SOLE 143,32400
SPROTT PHYSICAL GOLD TRUSTUNIT85207H10413,8331,448,500SH SOLE 1,448,50000
STONERIDGE INCCOM86183P1021,78360,000SH SOLE 60,00000
SYNOVUS FINL CORPCOM NEW87161C50113,467294,112SH SOLE 294,11200
TRIUMPH BANCORP INCCOM89679E30017,878468,007SH SOLE 468,00700
UMPQUA HLDGS CORPCOM9042141036,268301,368SH SOLE 301,36800
UNIVERSAL STAINLESS & ALLOYCOM9138371006,266245,640SH SOLE 245,64000
VANGUARD INTL EQUITY INDEX FALLWRLD EX US9220427754829,263SH SOLE 9,26300
VANGUARD INTL EQUITY INDEX FFTSE EMR MKT ETF92204285850111,456SH SOLE 11,45600
VANGUARD WORLD FDSINF TECH ETF92204a7024862,400SH SOLE 2,40000
VERITEX HLDGS INCCOM92345110815,724556,417SH SOLE 556,41700
WASTE MGMT INC DELCOM94106L1095075,606SH SOLE 5,60600
ZIONS BANCORPORATIONCOM98970110713,280264,800SH SOLE 264,80000