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
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AIR TRANSPORT SERVICES GRP I COM 00922R105 3,294 142,905 SH   SOLE 142,905 0 0
ALPS ETF TR ALERIAN MLP 00162Q866 174 17,300 SH   SOLE 17,300 0 0
AMERIS BANCORP COM 03076K108 5,884 171,289 SH   SOLE 171,289 0 0
BANC OF CALIFORNIA INC COM 05990K106 10,023 724,226 SH   SOLE 724,226 0 0
BANNER CORP COM NEW 06652V208 14,443 266,627 SH   SOLE 266,627 0 0
BMC STK HLDGS INC COM 05591B109 4,064 230,008 SH   SOLE 230,008 0 0
CBTX INC COM 12481V104 2,870 88,394 SH   SOLE 88,394 0 0
CENTERSTATE BK CORP COM 15201P109 13,957 586,195 SH   SOLE 586,195 0 0
COLUMBUS MCKINNON CORP N Y COM 199333105 4,279 124,565 SH   SOLE 124,565 0 0
COMERICA INC COM 200340107 9,418 128,451 SH   SOLE 128,451 0 0
CONTURA ENERGY INC COM 21241B100 1,788 30,872 SH   SOLE 30,872 0 0
ENCORE WIRE CORP COM 292562105 4,214 73,651 SH   SOLE 73,651 0 0
EQUITY BANCSHARES INC COM CL A 29460X109 7,303 253,563 SH   SOLE 253,563 0 0
FB FINL CORP COM 30257X104 3,214 101,204 SH   SOLE 101,204 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 376 10,281 SH   SOLE 10,281 0 0
FIRST BANCORP N C COM 318910106 7,578 218,011 SH   SOLE 218,011 0 0
FIRST BANCSHARES INC MS COM 318916103 2,779 89,945 SH   SOLE 89,945 0 0
FIRST HORIZON NATL CORP COM 320517105 7,915 566,190 SH   SOLE 566,190 0 0
FRANCO NEVADA CORP COM 351858105 3,302 44,000 SH   SOLE 44,000 0 0
GLACIER BANCORP INC NEW COM 37637Q105 3,579 89,322 SH   SOLE 89,322 0 0
HANCOCK WHITNEY CORPORATION COM 410120109 13,861 343,103 SH   SOLE 343,103 0 0
HERITAGE FINL CORP WASH COM 42722X106 8,579 284,729 SH   SOLE 284,729 0 0
HILLTOP HOLDINGS INC COM 432748101 4,373 239,598 SH   SOLE 239,598 0 0
IBERIABANK CORP COM 450828108 13,428 187,252 SH   SOLE 187,252 0 0
INDEPENDENT BK GROUP INC COM 45384B106 8,437 164,496 SH   SOLE 164,496 0 0
INVESCO EXCHANGE TRADED FD T INTL DIVI ACHI 46137V548 754 47,500 SH   SOLE 47,500 0 0
INVESTAR HLDG CORP COM 46134L105 7,127 313,821 SH   SOLE 313,821 0 0
ISHARES TR SELECT DIVID ETF 464287168 538 5,484 SH   SOLE 5,484 0 0
ISHARES TR MSCI EAFE ETF 464287465 584 9,000 SH   SOLE 9,000 0 0
JOHNSON & JOHNSON COM 478160104 217 1,550 SH   SOLE 1,550 0 0
KLX ENERGY SERVICS HOLDNGS I COM 48253L106 5,405 215,000 SH   SOLE 215,000 0 0
MACQUARIE INFRASTRUCTURE COR COM 55608B105 4,703 114,084 SH   SOLE 114,084 0 0
MAMMOTH ENERGY SVCS INC COM 56155L108 1,457 87,500 SH   SOLE 87,500 0 0
NATIONAL COMM CORP COM 63546L102 840 21,434 SH   SOLE 21,434 0 0
NEWMONT MNG CORP COM 651639106 3,357 93,850 SH   SOLE 93,850 0 0
ORIGIN BANCORP INC COM 68621T102 4,401 129,264 SH   SOLE 129,264 0 0
PACWEST BANCORP DEL COM 695263103 4,028 107,090 SH   SOLE 107,090 0 0
PEOPLES UTAH BANCORP COM 712706209 9,529 361,365 SH   SOLE 361,365 0 0
PINNACLE FINL PARTNERS INC COM 72346Q104 15,633 285,792 SH   SOLE 285,792 0 0
REGIONS FINL CORP NEW COM 7591EP100 6,156 435,059 SH   SOLE 435,059 0 0
SANDY SPRING BANCORP INC COM 800363103 12,215 390,501 SH   SOLE 390,501 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 8,973 70,060 SH   SOLE 70,060 0 0
SMARTFINANCIAL INC COM NEW 83190L208 4,185 221,337 SH   SOLE 221,337 0 0
SOUTH ST CORP COM 840441109 7,511 109,910 SH   SOLE 109,910 0 0
SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 15,413 1,474,918 SH   SOLE 1,474,918 0 0
STONERIDGE INC COM 86183P102 2,309 80,000 SH   SOLE 80,000 0 0
SYNOVUS FINL CORP COM NEW 87161C501 11,194 325,773 SH   SOLE 325,773 0 0
TRIUMPH BANCORP INC COM 89679E300 8,465 288,037 SH   SOLE 288,037 0 0
UNIVAR INC COM 91336L107 3,271 147,626 SH   SOLE 147,626 0 0
UNIVERSAL STAINLESS & ALLOY COM 913837100 4,166 251,444 SH   SOLE 251,444 0 0
VANECK VECTORS ETF TR GOLD MINERS ETF 92189F106 3,385 151,000 SH   SOLE 151,000 0 0
VANGUARD INTL EQUITY INDEX F ALLWRLD EX US 922042775 884 17,623 SH   SOLE 17,623 0 0
VANGUARD WORLD FDS INF TECH ETF 92204a702 482 2,400 SH   SOLE 2,400 0 0
VERITEX HLDGS INC COM 923451108 8,408 347,136 SH   SOLE 347,136 0 0
WASTE MGMT INC DEL COM 94106L109 583 5,606 SH   SOLE 5,606 0 0
ZIONS BANCORPORATION N A COM 989701107 9,913 218,310 SH   SOLE 218,310 0 0