Pinnacle Holdings, LLC — Q2 2025 13F-HR

← Pinnacle Holdings, LLC

Q2 2025 · 13F-HR

Pinnacle Holdings, LLCholdings as filed

Filed 2025-08-07 · accession 0001411784-25-000006

$277.2M

Reported value

229

Positions

2025-06-30

Period end

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The Brief · Pinnacle Holdings, LLC · Q2 2025

AI · grounded in 13F

Pinnacle Holdings, LLC established a new position in SPDR Dow Jones Industrial Average valued at $11.27M. The fund also initiated new stakes in The Goldman Sachs Group for $6.48M and MSFT for $5.45M. Additional new positions include Antero Midstream Corp at $5.33M, WMB at $5.03M, and OKE at $4.72M.

Holdings as filed

CUSIP	Ticker	Issuer	Value	% port.	Shares	Class	Voting
78467x109	—	SPDR Dow Jones Industrial Average	$11.3M	4.06%	25,565	Common	SOLE
38141g104	—	The Goldman Sachs Group	$6.5M	2.34%	9,152	Common	SOLE
594918104	MSFT	Microsoft Corporation	$5.5M	1.97%	10,962	Common	SOLE
03676b102	—	Antero Midstream Corp	$5.3M	1.92%	281,471	Common	SOLE
969457100	WMB	Williams Companies	$5.0M	1.82%	80,154	Common	SOLE
682680103	OKE	ONEOK	$4.7M	1.70%	57,778	Common	SOLE
313400301	FMCC	Freddie Mac	$4.7M	1.70%	571,192	Common	SOLE
55336v100	—	MPLX	$4.2M	1.51%	81,346	Common	SOLE
371927104	GEL	Genesis Energy	$4.1M	1.49%	239,195	Common	SOLE
037833100	AAPL	Apple	$4.1M	1.47%	19,845	Common	SOLE
02215l209	—	Kinetik Holdings	$4.0M	1.45%	91,257	Common	SOLE
87612g101	—	Targa Resources Corp	$4.0M	1.43%	22,781	Common	SOLE
031162100	AMGN	Amgen	$3.7M	1.34%	13,331	Common	SOLE
149123101	CAT	Caterpillar	$3.6M	1.30%	9,288	Common	SOLE
437076102	HD	The Home Depot	$3.6M	1.29%	9,742	Common	SOLE
01877r108	—	Alliance Resource Partners	$3.4M	1.22%	128,955	Common	SOLE
46625h100	—	JPMorgan	$3.4M	1.22%	11,626	Common	SOLE
29273v100	—	Energy Transfer	$3.3M	1.21%	184,346	Common	SOLE
428103105	HESM	Hess Midstream Partners	$3.3M	1.19%	86,017	Common	SOLE
92826c839	—	Visa Inc	$3.2M	1.14%	8,922	Common	SOLE
72651a207	—	Plains GP Holdings	$3.1M	1.12%	160,120	Common	SOLE
43785u102	—	Homestreet Inc	$3.0M	1.09%	231,109	Common	SOLE
459200101	IBM	International Business Machines	$3.0M	1.08%	10,199	Common	SOLE
824348106	SHW	Sherwin-Williams	$3.0M	1.08%	8,749	Common	SOLE
78408d105	—	SB Financial Group	$3.0M	1.08%	156,909	Common	SOLE
91324p102	—	UnitedHealth Group	$2.9M	1.04%	9,279	Common	SOLE
580135101	MCD	McDonald's Corp	$2.9M	1.03%	9,818	Common	SOLE
025816109	AXP	American Express Company	$2.8M	1.02%	8,893	Common	SOLE
293792107	EPD	Enterprise Products Partners	$2.8M	1.00%	89,523	Common	SOLE
55303JAB2	MGPI 1.875 11/15/41	MGP Ingredients	$2.7M	0.99%	2,905,000	Common	SOLE
629209305	NMIH	NMI Holdings	$2.7M	0.98%	64,322	Common	SOLE
784730AB9	SSRMCN 2.5 04/01/39	SSR Mining Inc	$2.6M	0.94%	2,530,000	Common	SOLE
95825r103	—	Western Midstream Partners	$2.6M	0.94%	67,201	Common	SOLE
04010e109	—	Argan Inc	$2.6M	0.94%	11,781	Common	SOLE
12135y108	—	Burke & Herbert Financial Services	$2.6M	0.93%	43,349	Common	SOLE
477143AP6	JBLU 0.5 04/01/26	Jetblue Airways	$2.6M	0.93%	2,710,000	Common	SOLE
10922n103	—	Brighthouse Financial	$2.5M	0.91%	46,915	Common	SOLE
y62267102	—	Navios Maritime Partners	$2.5M	0.90%	66,472	Common	SOLE
172967424	C	Citigroup	$2.5M	0.89%	28,932	Common	SOLE
89417e109	—	The Travelers Companies	$2.4M	0.88%	9,079	Common	SOLE
67066g104	—	Nvidia Corp	$2.4M	0.87%	15,299	Common	SOLE
79466l302	—	salesforce.com	$2.3M	0.85%	8,615	Common	SOLE
023135106	AMZN	Amazon.com	$2.3M	0.84%	10,640	Common	SOLE
909218406	UNTC	Unit Corp	$2.3M	0.84%	89,040	Common	SOLE
69608a109	—	Palantir Technologies	$2.3M	0.82%	16,598	Common	SOLE
438516106	HON	Honeywell International	$2.2M	0.80%	9,558	Common	SOLE
86764p109	—	Sunoco LP	$2.2M	0.80%	41,450	Common	SOLE
598511103	MOFG	MidWest One Financial Group	$2.2M	0.80%	76,828	Common	SOLE
313400640	FMCC	Freddie Mac	$2.1M	0.75%	179,580	Common	SOLE
097023105	BA	The Boeing Company	$2.0M	0.73%	9,659	Common	SOLE
64944p307	—	Flagstar Financial	$1.9M	0.70%	50,492	Common	SOLE
97717PAD6	WT 3.25 06/15/26	WisdomTree Investments	$1.9M	0.69%	1,705,000	Common	SOLE
166764100	CVX	Chevron Corporation	$1.9M	0.68%	13,173	Common	SOLE
819047AB7	SHAK 0 03/01/28	Shake Shack Inc	$1.9M	0.68%	1,760,000	Common	SOLE
311642AB8	FARO	FARO Technolgies	$1.9M	0.67%	1,507,000	Common	SOLE
33741h107	—	First United Corp	$1.8M	0.66%	58,976	Common	SOLE
060505104	BAC	Bank of America	$1.8M	0.66%	38,448	Common	SOLE
163072AA9	CAKE 0.375 06/15/26	The Cheesecake Factory	$1.8M	0.65%	1,745,000	Common	SOLE
22410j106	—	Cracker Barrel Old Country Store	$1.7M	0.62%	28,094	Common	SOLE
478160104	JNJ	Johnson & Johnson	$1.7M	0.61%	11,160	Common	SOLE
742718109	PG	Procter & Gamble	$1.7M	0.61%	10,649	Common	SOLE
46817M107	JXN	Jackson Financial	$1.6M	0.58%	18,235	Common	SOLE
00170F209	AMG	AMG Capital	$1.6M	0.58%	29,870	Common	SOLE
74467q103	—	PubMatic	$1.6M	0.58%	128,825	Common	SOLE
84762laz8	—	Spectrum Brands Holdings	$1.6M	0.57%	1,755,000	Common	SOLE
42806j700	—	Hertz Global Holdings	$1.6M	0.57%	230,971	Common	SOLE
75970e107	—	Renasant Corp	$1.5M	0.56%	42,976	Common	SOLE
98980GAB8	ZS 0.125 07/01/25	Zscaler	$1.5M	0.55%	750,000	Common	SOLE
49456b101	—	Kinder Morgan	$1.5M	0.53%	50,379	Common	SOLE
29975EAB5	EB 5 12/01/25	Eventbrite Inc	$1.5M	0.53%	1,500,000	Common	SOLE
46434g764	—	iShares MSCI Emerging Markets ETF	$1.4M	0.52%	22,875	Common	SOLE
24664t103	—	Delek Logistics Partners	$1.4M	0.52%	33,350	Common	SOLE
64111Q104	NTGR	NETGEAR	$1.4M	0.50%	48,031	Common	SOLE
420476103	HWBK	Hawthorn Bancshares	$1.4M	0.50%	47,764	Common	SOLE
178867107	CIVB	Civista Bancshares	$1.4M	0.49%	59,030	Common	SOLE
88579y101	—	3M Co	$1.4M	0.49%	8,989	Common	SOLE
00402l107	—	Academy Sports & Outdoors	$1.3M	0.48%	29,414	Common	SOLE
05990k841	—	Banc of California	$1.3M	0.47%	54,484	Common	SOLE
49428j109	—	Kimball Electronics	$1.3M	0.47%	67,546	Common	SOLE
174903104	CZWI	Citizens Community Bancorp	$1.3M	0.45%	91,347	Common	SOLE
505336107	LZB	La-Z-Boy	$1.2M	0.44%	33,176	Common	SOLE
060505682	BAC 7.25 PERP L	Bank of America	$1.2M	0.44%	1,016	Common	SOLE
45781MAD3	INVA 2.125 03/15/28	Innoviva	$1.2M	0.44%	1,227,000	Common	SOLE
985817105	YELP	Yelp	$1.2M	0.44%	35,425	Common	SOLE
680033107	ONB	Old National Bancorp	$1.2M	0.44%	56,751	Common	SOLE
931142103	WMT	Wal-Mart Stores	$1.2M	0.43%	12,173	Common	SOLE
393222AK0	GPRE 2.25 03/15/27	Green Plains	$1.2M	0.43%	1,400,000	Common	SOLE
501812AB7	LCII 1.125 05/15/26	LCI Industries	$1.2M	0.42%	1,215,000	Common	SOLE
590479135	—	Mesa Air Group	$1.1M	0.41%	1,235,258	Common	SOLE
319835104	FCCO	First Community Corp	$1.1M	0.41%	46,702	Common	SOLE
29667d104	—	Essa Bancorp Inc	$1.1M	0.41%	58,656	Common	SOLE
709789101	PEBO	Peoples Bancorp	$1.1M	0.41%	36,977	Common	SOLE
254687106	DIS	Walt Disney Co	$1.1M	0.40%	8,954	Common	SOLE
03937c105	—	Arcbest Corp	$1.1M	0.39%	14,141	Common	SOLE
313586109	FNMA	Federal National Mortgage Association	$1.1M	0.39%	113,388	Common	SOLE
87484t108	—	Talos Energy	$1.1M	0.39%	125,895	Common	SOLE
01446u103	—	Alerus Financial	$1.1M	0.38%	48,999	Common	SOLE
477143101	JBLU	Jetblue Airways	$1.0M	0.37%	242,466	Common	SOLE
23204g100	—	Customers Bancorp	$1.0M	0.37%	17,405	Common	SOLE
700885106	PKBK	Parke Bancorp	$1.0M	0.37%	49,941	Common	SOLE
710577107	PEBK	Peoples Bancorp	$1.0M	0.36%	34,889	Common	SOLE
687380105	ORRF	Orrstow Financial Services	$994,059	0.36%	31,230	Common	SOLE
71103b102	—	Peoples Financial Corp	$969,520	0.35%	48,476	Common	SOLE
649445400	FLG	Flagstar Financial	$935,395	0.34%	88,245	Common	SOLE
675234108	OCFC	OceanFirst Financial	$902,336	0.33%	51,240	Common	SOLE
900450206	TBCH	Turtle Beach Corp	$901,094	0.33%	65,155	Common	SOLE
960417103	WLKP	Westlake Chemical Partners	$865,199	0.31%	39,167	Common	SOLE
163851108	CC	Chemours Company	$858,693	0.31%	74,995	Common	SOLE
185899101	CLF	Cleveland-Cliffs	$833,933	0.30%	109,728	Common	SOLE
58933y105	—	Merck	$833,871	0.30%	10,534	Common	SOLE
05990k106	—	Banc of California	$827,714	0.30%	58,912	Common	SOLE
17275r102	—	Cisco Systems	$801,200	0.29%	11,548	Common	SOLE
43940t109	—	Hope Bancorp	$759,469	0.27%	70,780	Common	SOLE
74167b109	—	Primis Financial Corp	$740,144	0.27%	68,216	Common	SOLE
91851c201	—	Vaalco Energy	$739,931	0.27%	204,967	Common	SOLE
d18190898	—	Deutsche Bank	$729,072	0.26%	24,900	Common	SOLE
693149106	PAMT	PAM Transporation Services	$724,259	0.26%	56,275	Common	SOLE
33744v103	—	First US Bancshares	$719,897	0.26%	55,806	Common	SOLE
29975e109	—	Eventbrite	$712,620	0.26%	270,958	Common	SOLE
909214306	UIS	Unisys Corp	$708,895	0.26%	156,489	Common	SOLE
191216100	KO	The Coca-Cola Company	$692,643	0.25%	9,790	Common	SOLE
989701107	ZION	Zions Bancorp	$687,893	0.25%	13,244	Common	SOLE
48716p108	—	Kearny Financial Corp	$652,977	0.24%	101,080	Common	SOLE
78464a300	—	SPDR S&P 600 Small Cap Value ETF	$643,823	0.23%	8,072	Common	SOLE
74348a467	—	ProShares S&P 500 Dividend Aristocrat ETF	$640,437	0.23%	6,360	Common	SOLE
654106103	NKE	Nike	$631,830	0.23%	8,894	Common	SOLE
n3144w105	—	Expro Group Holdings	$628,532	0.23%	73,170	Common	SOLE
909458101	UBOH	United Bancshares	$618,881	0.22%	22,302	Common	SOLE
18915MAC1	NET 0 08/15/26	Cloudflare Inc	$591,550	0.21%	500,000	Common	SOLE
68389x105	—	Oracle Corporation	$583,086	0.21%	2,667	Common	SOLE
89832q109	—	Truist Financial Corp	$581,225	0.21%	13,520	Common	SOLE
78462f103	—	SPDR S&P 500 Trust	$558,556	0.20%	904	Common	SOLE
50187t106	—	LGI Homes Inc	$554,510	0.20%	10,763	Common	SOLE
174610105	CFG	Citizens Financial Group	$521,651	0.19%	11,657	Common	SOLE
92343v104	—	Verizon Communications	$490,076	0.18%	11,326	Common	SOLE
09239BAD1	BL 0 03/15/26	Blackline Corp	$479,400	0.17%	500,000	Common	SOLE
316773100	FITB	Fifth Third Bancorp	$478,136	0.17%	11,625	Common	SOLE
679295AF2	OKTA 0.375 06/15/26	Okta Inc	$477,000	0.17%	500,000	Common	SOLE
30231g102	—	Exxon Mobil Corporation	$465,545	0.17%	4,319	Common	SOLE
g16962105	—	Bunge Ltd	$464,018	0.17%	5,780	Common	SOLE
090043AD2	BILL 0 04/01/27	Bill.com Holdings	$454,994	0.16%	500,000	Common	SOLE
320218100	THFF	The First Financial Corp	$443,828	0.16%	8,190	Common	SOLE
26942g100	—	Eagle Bancorp Montana	$430,319	0.16%	25,814	Common	SOLE
203937107	CWBC	Community West Bancshares	$427,386	0.15%	21,906	Common	SOLE
42806j148	—	Hertz Global Holdings	$404,329	0.15%	110,775	Common	SOLE
22266LAF3	COUP	Coupa Software Inc	$400,000	0.14%	500,000	Common	SOLE
126600105	CVBF	CVB Financial	$391,901	0.14%	19,803	Common	SOLE
369604103	GE	General Electric Company	$386,471	0.14%	1,501	Common	SOLE
516806205	8LP1	Vital Energy	$383,216	0.14%	23,817	Common	SOLE
644393100	NFE	New Fortress Energy	$370,741	0.13%	111,669	Common	SOLE
335834107	FNWB	First Northwest BanCorp	$361,900	0.13%	47,000	Common	SOLE
410120109	HWC	Hancock Whitney Corporation	$357,717	0.13%	6,232	Common	SOLE
83607a100	—	Sounds Financial Banc	$354,614	0.13%	7,709	Common	SOLE
65341b106	—	XPLR Infrastructure	$310,665	0.11%	37,886	Common	SOLE
57636q104	—	Mastercard Inc	$224,776	0.08%	400	Common	SOLE
464287176	TIP	iShares Barclays TIPS Bond	$221,116	0.08%	2,009	Common	SOLE
46090e103	—	Invesco NASDAQ 100 ETF	$220,479	0.08%	612	Common	SOLE
949746101	WMT2	Wells Fargo	$206,069	0.07%	2,572	Common	SOLE
74386T105	PFS	Providient Financial Services	$202,703	0.07%	11,563	Common	SOLE
02376R102	AAL	American Airlines Group	$185,646	0.07%	16,546	Common	SOLE
36828a101	—	GE Vernova	$174,090	0.06%	329	Common	SOLE
74727a104	—	QCR Holdings	$150,874	0.05%	2,222	Common	SOLE
444717102	HGTXU	Hugoton Royalty Trust	$150,678	0.05%	376,694	Common	SOLE
127097103	CTRA	Coterra Energy Inc	$121,469	0.04%	4,786	Common	SOLE
458140100	INTC	Intel Corporation	$118,205	0.04%	5,277	Common	SOLE
874039100	TSM	Taiwan Semiconductor Manufacturing	$117,548	0.04%	519	Common	SOLE
302520101	FNB	F.N.B. Corporation	$103,051	0.04%	7,068	Common	SOLE
726503105	PAA	Plains All American Pipeline	$101,859	0.04%	5,560	Common	SOLE
31810T101	FINV	FinVolution Group	$100,649	0.04%	10,617	Common	SOLE
25179m103	—	Devon Energy Corporation	$96,098	0.03%	3,021	Common	SOLE
50077b207	—	Kratos Defense & Security Solutions	$92,900	0.03%	2,000	Common	SOLE
313586752	FNMA	Fannie Mae	$90,000	0.03%	6,000	Common	SOLE
40609p105	—	Hallador Energy	$87,667	0.03%	5,538	Common	SOLE
00206r102	—	A T & T	$86,010	0.03%	2,972	Common	SOLE
020764106	AMR	Alpha Metallurgical Resources	$82,572	0.03%	734	Common	SOLE
85208M102	SFM	Sprouts Farmers Market	$82,320	0.03%	500	Common	SOLE
y8564w103	—	Teekay Inc	$81,073	0.03%	9,827	Common	SOLE
09857l108	—	Booking Holdings	$75,260	0.03%	13	Common	SOLE
760759100	RSG	Republic Services	$75,216	0.03%	305	Common	SOLE
808524300	SCHG	Schwab Large Cap Growth	$74,252	0.03%	2,542	Common	SOLE
55616p104	—	Macy's	$72,280	0.03%	6,199	Common	SOLE
423403104	MOMO	Hello Group	$70,693	0.03%	8,376	Common	SOLE
y81669106	—	Stealthgas	$69,061	0.02%	10,774	Common	SOLE
909218125	UNTCW	Unit Corp	$68,006	0.02%	142,869	Common	SOLE
Y27183600	GSL	Global Ship Lease	$67,327	0.02%	2,559	Common	SOLE
y8565n102	—	Teekay Tankers	$61,912	0.02%	1,484	Common	SOLE
046353108	AZNN	Astrazeneca	$55,904	0.02%	800	Common	SOLE
46817M206	JXN	Jackson Financial	$55,704	0.02%	2,200	Common	SOLE
y1968p121	—	Danaos Corp	$55,625	0.02%	645	Common	SOLE
260557103	DOW	Dow Inc	$55,184	0.02%	2,084	Common	SOLE
90353t100	—	Uber Technologies	$54,114	0.02%	580	Common	SOLE
220014096	—	McDermott International Ltd	$52,757	0.02%	4,796	Common	SOLE
81369y209	—	Health Care Select Sector SPDR	$51,085	0.02%	379	Common	SOLE
80007p869	—	SandRidge Energy	$50,205	0.02%	4,640	Common	SOLE
02376RAF9	AAL 6.5 07/01/25	American Airlines	$50,025	0.02%	50,000	Common	SOLE
37045v100	—	General Motors	$48,964	0.02%	995	Common	SOLE
L00849106	AGRO	Adecoagro SA	$47,510	0.02%	5,198	Common	SOLE
165167735	EXE	Expand Energy Corporation	$45,805	0.02%	392	Common	SOLE
911312106	UPS	United Parcel Service	$44,918	0.02%	445	Common	SOLE
152006102	CGAU	Centerra Gold	$44,154	0.02%	6,124	Common	SOLE
83212B106	—	Shenandoah Telecommunications	$41,253	0.01%	3,020	Common	SOLE
55826T102	SPHR	Sphere Entertainment Company	$40,630	0.01%	972	Common	SOLE
y2685t131	—	Genco Shipping & Trading	$40,517	0.01%	3,100	Common	SOLE
91688F104	UPWK	Upwork Inc	$38,627	0.01%	2,874	Common	SOLE
36266G107	GEHC	GE Healthcare Technologies	$38,590	0.01%	521	Common	SOLE
620076307	MSI	Motorola Solutions	$38,262	0.01%	91	Common	SOLE
81369y506	—	Energy Select Sector SPDR	$36,638	0.01%	432	Common	SOLE
72352l106	—	Pinterest Inc	$35,788	0.01%	998	Common	SOLE
69374H857	CALF	Pacer US Small Cap Cash Cows	$35,754	0.01%	898	Common	SOLE
165167180	EXEEL	Expand Energy	$31,076	0.01%	287	Common	SOLE
88031m109	—	Tenaris SA	$31,042	0.01%	830	Common	SOLE
y7542c130	—	Scorpio Tankers	$27,156	0.01%	694	Common	SOLE
y0207t100	—	Ardmore Shiipping Corp	$26,419	0.01%	2,752	Common	SOLE
665531307	NOG	Northern Oil and Gas	$26,337	0.01%	929	Common	SOLE
25459y686	—	Direxion Daily Emerging Markets 3X Bull	$25,715	0.01%	657	Common	SOLE
05561q201	—	BOK Financial	$25,384	0.01%	260	Common	SOLE
91325v108	—	Uniti Group	$25,056	0.01%	5,800	Common	SOLE
75282u104	—	Ranger Energy Services	$24,620	0.01%	2,062	Common	SOLE
n00985106	—	AerCap Holdings NV	$23,868	0.01%	204	Common	SOLE
08579x101	—	Berry Corp	$23,420	0.01%	8,455	Common	SOLE
651639106	NEM	Newmont Mining	$23,304	0.01%	400	Common	SOLE
58506q109	—	Medpace Holdings	$23,226	0.01%	74	Common	SOLE
y41053102	—	International Seaways	$19,918	0.01%	546	Common	SOLE
253393102	DKS	Dicks Sporting Goods	$18,594	0.01%	94	Common	SOLE
202608105	CVGI	Commercial Vehicle Group	$17,093	0.01%	10,297	Common	SOLE
197236102	COLB	Columbia Banking System	$13,841	0.00%	592	Common	SOLE
y1771g102	—	Costamare Inc	$9,848	0.00%	1,081	Common	SOLE
90984P303	UCB	United Community Banks	$6,554	0.00%	220	Common	SOLE
695263202	PACW	Pacwest Bancorp	$6,025	0.00%	250	Common	SOLE

Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.