Pinnacle Holdings, LLC — Q4 2025 13F-HR

← Pinnacle Holdings, LLC

Q4 2025 · 13F-HR

Pinnacle Holdings, LLCholdings as filed

Filed 2026-02-12 · accession 0001411784-26-000002

$296.0M

Reported value

249

Positions

2025-12-31

Period end

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The Brief · Pinnacle Holdings, LLC · Q4 2025

AI · grounded in 13F

Pinnacle Holdings, LLC closed its position in Mesa Air Group Inc, reducing exposure by $2.1M. The fund established a new position in RJET worth $2.0M and added Americold Realty Trust with a $1.6M investment. Other new entries include HELE at $1.4M and WHR at $1.3M.

Holdings as filed

CUSIP	Ticker	Issuer	Value	% port.	Shares	Class	Voting
78467x109	—	SPDR Dow Jones Industrial Average	$12.2M	4.11%	25,340	Common	SOLE
38141g104	—	The Goldman Sachs Group	$7.9M	2.68%	9,011	Common	SOLE
313400301	FMCC	Freddie Mac	$5.7M	1.91%	558,502	Common	SOLE
149123101	CAT	Caterpillar	$5.5M	1.87%	9,657	Common	SOLE
037833100	AAPL	Apple	$5.4M	1.84%	19,984	Common	SOLE
594918104	MSFT	Microsoft Corporation	$5.1M	1.74%	10,629	Common	SOLE
03676b102	—	Antero Midstream	$5.0M	1.68%	280,072	Common	SOLE
969457100	WMB	Williams Companies	$4.8M	1.61%	79,043	Common	SOLE
031162100	AMGN	Amgen Inc	$4.3M	1.46%	13,190	Common	SOLE
55336v100	—	MPLX	$4.3M	1.46%	80,850	Common	SOLE
682680103	OKE	ONEOK	$4.3M	1.45%	58,410	Common	SOLE
87612g101	—	Targa Resources Corp	$4.2M	1.41%	22,554	Common	SOLE
371927104	GEL	Genesis Energy	$3.7M	1.25%	237,847	Common	SOLE
46625h100	—	JPMorgan	$3.7M	1.24%	11,412	Common	SOLE
78408d105	—	SB Financial Group	$3.5M	1.18%	156,910	Common	SOLE
437076102	HD	The Home Depot	$3.5M	1.17%	10,106	Common	SOLE
y62267102	—	Navios Maritime Partners	$3.4M	1.16%	65,539	Common	SOLE
02215l209	—	Kinetik Holdings	$3.4M	1.15%	94,371	Common	SOLE
172967424	C	Citigroup	$3.4M	1.14%	29,032	Common	SOLE
43785v102	—	Mechanics Bancorp	$3.4M	1.14%	230,329	Common	SOLE
784730AB9	SSRMCN 2.5 04/01/39	SSR Mining	$3.3M	1.10%	2,505,000	Common	SOLE
025816109	AXP	American Express Company	$3.2M	1.09%	8,752	Common	SOLE
459200101	IBM	International Business Machines	$3.2M	1.07%	10,653	Common	SOLE
72651a207	—	Plains GP Holdings	$3.1M	1.06%	164,095	Common	SOLE
428103105	HESM	Hess Midstream Partners	$3.1M	1.04%	89,625	Common	SOLE
92826c839	—	Visa	$3.1M	1.04%	8,765	Common	SOLE
91324p102	—	UnitedHealth Group	$3.1M	1.04%	9,294	Common	SOLE
29273v100	—	Energy Transfer	$3.1M	1.03%	185,133	Common	SOLE
01877r108	—	Alliance Resource Partners	$3.0M	1.02%	129,423	Common	SOLE
580135101	MCD	McDonald's	$3.0M	1.00%	9,671	Common	SOLE
598511103	MOFG	MidWest One Financial	$2.9M	0.99%	76,223	Common	SOLE
69608a109	—	Palantir Technologies	$2.9M	0.97%	16,213	Common	SOLE
89417e109	—	The Travelers Companies	$2.9M	0.97%	9,888	Common	SOLE
10922n103	—	Brighthouse Financial	$2.9M	0.96%	44,054	Common	SOLE
293792107	EPD	Enterprise Products Partners	$2.8M	0.96%	88,894	Common	SOLE
55303JAB2	MGPI 1.875 11/15/41	MGP Ingredients	$2.8M	0.95%	2,905,000	Common	SOLE
67066g104	—	Nvidia	$2.8M	0.95%	15,031	Common	SOLE
824348106	SHW	Sherwin-Williams	$2.8M	0.94%	8,553	Common	SOLE
909218406	UNTC	Unit Corp	$2.7M	0.93%	89,040	Common	SOLE
12135y108	—	Burke & Herbert Financial Services	$2.7M	0.91%	43,289	Common	SOLE
95825r103	—	Western Midstream	$2.6M	0.89%	66,896	Common	SOLE
629209305	NMIH	NMI Holdings	$2.6M	0.88%	64,116	Common	SOLE
023135106	AMZN	Amazon.com	$2.6M	0.86%	11,071	Common	SOLE
478160104	JNJ	Johnson & Johnson	$2.3M	0.79%	11,310	Common	SOLE
313400640	FMCC	Freddie Mac	$2.3M	0.79%	179,580	Common	SOLE
79466l302	—	salesforce.com	$2.2M	0.76%	8,452	Common	SOLE
33741h107	—	First United Corp	$2.2M	0.75%	58,976	Common	SOLE
442871112	—	Hovnanian	$2.2M	0.73%	105,000	Common	SOLE
86764p109	—	Sunoco	$2.2M	0.73%	41,051	Common	SOLE
166764100	CVX	Chevron Corporation	$2.1M	0.72%	13,973	Common	SOLE
060505104	BAC	Bank of America	$2.1M	0.72%	38,548	Common	SOLE
097023105	BA	The Boeing Company	$2.1M	0.71%	9,688	Common	SOLE
590479408	RJET	Republic Airways	$2.0M	0.69%	110,673	Common	SOLE
00170F209	AMG	AMG	$2.0M	0.69%	27,660	Common	SOLE
64944p307	—	Flagstar Financial	$2.0M	0.67%	49,842	Common	SOLE
97717PAD6	WT 3.25 06/15/26	WisdomTree Investments	$2.0M	0.67%	1,695,000	Common	SOLE
46817M107	JXN	Jackson Financial	$2.0M	0.66%	18,285	Common	SOLE
438516106	HON	Honeywell International	$1.9M	0.63%	9,617	Common	SOLE
49428j109	—	Kimball Electronics	$1.9M	0.63%	67,305	Common	SOLE
163072AA9	CAKE 0.375 06/15/26	The Cheesecake Factory	$1.7M	0.58%	1,745,000	Common	SOLE
84762laz8	—	Spectrum Brands Holdings	$1.7M	0.57%	1,795,000	Common	SOLE
477143AP6	JBLU 0.5 04/01/26	Jetblue Airways	$1.7M	0.56%	1,705,000	Common	SOLE
420476103	HWBK	Hawthorn Bancshares	$1.7M	0.56%	47,764	Common	SOLE
819047AB7	SHAK 0 03/01/28	Shake Shack Inc	$1.7M	0.56%	1,755,000	Common	SOLE
03064d108	—	Americold Realty Trust	$1.6M	0.55%	126,601	Common	SOLE
174903104	CZWI	Citizens Community Bancorp	$1.6M	0.55%	91,347	Common	SOLE
88579y101	—	3M Co	$1.6M	0.54%	9,920	Common	SOLE
75970e107	—	Renasant Corp	$1.5M	0.51%	42,976	Common	SOLE
742718109	PG	Procter & Gamble	$1.5M	0.51%	10,498	Common	SOLE
24664t103	—	Delek Logistics Partners	$1.5M	0.50%	33,044	Common	SOLE
00402l107	—	Academy Sports	$1.5M	0.50%	29,342	Common	SOLE
185899101	CLF	Cleveland-Cliffs	$1.5M	0.49%	109,547	Common	SOLE
G4388N106	HELE	Helen of Troy	$1.4M	0.49%	67,986	Common	SOLE
060505682	BAC 7.25 PERP L	Bank of America	$1.4M	0.49%	11,015	Common	SOLE
87484t108	—	Talos Energy	$1.4M	0.47%	125,639	Common	SOLE
49456b101	—	Kinder Morgan	$1.4M	0.47%	50,159	Common	SOLE
05990k841	—	Banc of California	$1.4M	0.47%	54,734	Common	SOLE
319835104	FCCO	First Community Corp	$1.4M	0.46%	46,302	Common	SOLE
649445400	FLG	Flagstar Financial Inc.	$1.4M	0.46%	108,245	Common	SOLE
931142103	WMT	Wal-Mart Stores	$1.3M	0.45%	12,017	Common	SOLE
393222AK0	GPRE 2.25 03/15/27	Green Plains	$1.3M	0.45%	1,400,000	Common	SOLE
126128107	CCNE	CNB Financial	$1.3M	0.44%	50,124	Common	SOLE
178867107	CIVB	Civista Bancshares	$1.3M	0.44%	59,030	Common	SOLE
505336107	LZB	La-Z-Boy	$1.3M	0.44%	34,660	Common	SOLE
963320106	WHR	Whirlpool Corp	$1.3M	0.43%	17,816	Common	SOLE
23204g100	—	Customers Bancorp	$1.3M	0.43%	17,405	Common	SOLE
74467q103	—	PubMatic	$1.3M	0.43%	142,904	Common	SOLE
680033107	ONB	Old National Bancorp	$1.3M	0.43%	56,751	Common	SOLE
710577107	PEBK	Peoples Bancorp	$1.3M	0.43%	34,889	Common	SOLE
700885106	PKBK	Parke Bancorp	$1.3M	0.42%	49,941	Common	SOLE
45781MAD3	INVA 2.125 03/15/28	Innoviva	$1.2M	0.42%	1,227,000	Common	SOLE
42806j700	—	Hertz Global Holdings	$1.2M	0.42%	240,175	Common	SOLE
313586109	FNMA	Federal National Mortgage Association	$1.2M	0.41%	113,388	Common	SOLE
501812AB7	LCII 1.125 05/15/26	LCI Industries	$1.2M	0.40%	1,205,000	Common	SOLE
64111Q104	NTGR	NETGEAR	$1.2M	0.40%	47,766	Common	SOLE
477143101	JBLU	Jetblue Airways	$1.1M	0.39%	252,321	Common	SOLE
58933y105	—	Merck	$1.1M	0.38%	10,783	Common	SOLE
709789101	PEBO	Peoples Bancorp	$1.1M	0.38%	36,977	Common	SOLE
687380105	ORRF	Orrstow Financial Services	$1.1M	0.37%	31,230	Common	SOLE
01446u103	—	Alerus Financial	$1.1M	0.37%	48,999	Common	SOLE
985817105	YELP	Yelp	$1.1M	0.37%	36,229	Common	SOLE
05990k106	—	Banc of California	$1.1M	0.37%	56,942	Common	SOLE
974637AF7	WGO 3.25 01/15/30	Winnebago Industries	$1.1M	0.37%	1,160,000	Common	SOLE
03937c105	—	Arcbest	$1.0M	0.35%	14,145	Common	SOLE
254687106	DIS	Walt Disney	$1.0M	0.35%	9,113	Common	SOLE
29975e109	—	Eventbrite	$993,525	0.34%	223,264	Common	SOLE
909458101	UBOH	United Bancshares	$992,439	0.34%	22,302	Common	SOLE
71103b102	—	Peoples Financial	$986,971	0.33%	48,476	Common	SOLE
477143AR2	JBLU 2.5 09/01/29	Jetblue Airways	$967,500	0.33%	1,000,000	Common	SOLE
n3144w105	—	Expro Group Holdings	$967,009	0.33%	72,435	Common	SOLE
d18190898	—	Deutsche Bank	$960,144	0.32%	24,900	Common	SOLE
74167b109	—	Primis Financial	$948,885	0.32%	68,216	Common	SOLE
163851108	CC	Chemours Company	$944,296	0.32%	80,093	Common	SOLE
675234108	OCFC	OceanFirst Financial	$919,758	0.31%	51,240	Common	SOLE
17275r102	—	Cisco Systems	$907,953	0.31%	11,787	Common	SOLE
900450206	TBCH	Turtle Beach	$904,865	0.31%	64,495	Common	SOLE
335834107	FNWB	First Northwest BanCorp	$796,625	0.27%	84,928	Common	SOLE
22410j106	—	Cracker Barrel Old Country Store	$794,080	0.27%	31,263	Common	SOLE
33744v103	—	First US Bancshares	$779,610	0.26%	55,806	Common	SOLE
43940t109	—	Hope Bancorp	$775,749	0.26%	70,780	Common	SOLE
989701107	ZION	Zions Bancorp	$775,304	0.26%	13,244	Common	SOLE
91851c201	—	Vaalco Energy	$752,814	0.25%	206,817	Common	SOLE
48716p108	—	Kearny Financial	$749,003	0.25%	101,080	Common	SOLE
960417103	WLKP	Westlake Chemical Partners	$739,898	0.25%	38,942	Common	SOLE
30231g102	—	Exxon Mobil Corporation	$703,235	0.24%	5,844	Common	SOLE
693149106	PAMT	PAM Transporation Services	$695,627	0.24%	57,585	Common	SOLE
191216100	KO	The Coca-Cola Company	$681,133	0.23%	9,743	Common	SOLE
174610105	CFG	Citizens Financial Group	$680,885	0.23%	11,657	Common	SOLE
89832q109	—	Truist Financial	$665,319	0.22%	13,520	Common	SOLE
74348a467	—	ProShares S&P 500 Dividend Aristocrat	$661,999	0.22%	6,361	Common	SOLE
654106103	NKE	Nike	$555,615	0.19%	8,721	Common	SOLE
316773100	FITB	Fifth Third Bancorp	$544,166	0.18%	11,625	Common	SOLE
26942g100	—	Eagle Bancorp Montana	$513,699	0.17%	25,814	Common	SOLE
92343v104	—	Verizon Communications	$495,888	0.17%	12,175	Common	SOLE
320218100	THFF	The First Financial Corp	$494,853	0.17%	8,190	Common	SOLE
09239BAD1	BL 0 03/15/26	Blackline Corp	$494,000	0.17%	500,000	Common	SOLE
203937107	CWBC	Community West Bancshares	$492,885	0.17%	21,906	Common	SOLE
679295AF2	OKTA 0.375 06/15/26	Okta Inc	$488,000	0.16%	500,000	Common	SOLE
22266LAF3	COUP	Coupa Software Inc	$485,000	0.16%	500,000	Common	SOLE
909214306	UIS	Unisys Corp	$483,259	0.16%	175,094	Common	SOLE
50187t106	—	LGI Homes	$480,035	0.16%	11,174	Common	SOLE
090043AD2	BILL 0 04/01/27	Bill.com Holdings	$472,500	0.16%	500,000	Common	SOLE
369604103	GE	General Electric Company	$462,507	0.16%	1,501	Common	SOLE
68389x105	—	Oracle Corporation	$445,759	0.15%	2,287	Common	SOLE
410120109	HWC	Hancock Whitney Corporation	$396,854	0.13%	6,232	Common	SOLE
44952j104	—	Crescent Energy Company	$376,870	0.13%	44,919	Common	SOLE
65341b106	—	XPLR Infrastructure	$375,280	0.13%	37,528	Common	SOLE
126600105	CVBF	CVB Financial	$368,336	0.12%	19,803	Common	SOLE
949746101	WMT2	Wells Fargo	$351,550	0.12%	3,772	Common	SOLE
909218125	UNTCW	Unit Corp	$334,475	0.11%	142,938	Common	SOLE
30303m102	—	Meta Platforms	$314,215	0.11%	476	Common	SOLE
83607a100	—	Sounds Financial	$313,263	0.11%	7,180	Common	SOLE
42806j148	—	Hertz Global Holdings	$298,217	0.10%	111,275	Common	SOLE
74386T105	PFS	Providient Financial Services	$228,374	0.08%	11,563	Common	SOLE
57636q104	—	Mastercard	$228,352	0.08%	400	Common	SOLE
87422q109	—	Talen Energy Corporation	$228,278	0.08%	609	Common	SOLE
464287176	TIP	iShares Barclays TIPS Bond	$223,053	0.08%	2,029	Common	SOLE
458140100	INTC	Intel Corporation	$216,419	0.07%	5,865	Common	SOLE
36828a101	—	GE Vernova	$215,025	0.07%	329	Common	SOLE
G5924V106	MCDIF	McDermott International	$205,374	0.07%	9,850	Common	SOLE
74727a104	—	QCR Holdings	$185,093	0.06%	2,222	Common	SOLE
46435G102	ICVT	iShares Convertible Bond	$163,827	0.06%	1,663	Common	SOLE
874039100	TSM	Taiwan Semiconductor Manufacturing	$159,238	0.05%	524	Common	SOLE
50077b207	—	Kratos	$151,820	0.05%	2,000	Common	SOLE
55616p104	—	Macy's	$136,688	0.05%	6,199	Common	SOLE
020764106	AMR	Alpha Metallurgical Resources	$135,938	0.05%	680	Common	SOLE
127097103	CTRA	Coterra Energy	$125,968	0.04%	4,786	Common	SOLE
717081103	PFE	Pfizer	$122,732	0.04%	4,929	Common	SOLE
302520101	FNB	F.N.B. Corporation	$120,863	0.04%	7,068	Common	SOLE
25179m103	—	Devon Energy Corporation	$110,659	0.04%	3,021	Common	SOLE
444717102	HGTXU	Hugoton Royalty Trust	$109,263	0.04%	370,194	Common	SOLE
37045v100	—	General Motors	$107,749	0.04%	1,325	Common	SOLE
726503105	PAA	Plains All American Pipeline	$99,858	0.03%	5,560	Common	SOLE
911312106	UPS	United Parcel Service	$93,735	0.03%	945	Common	SOLE
313586752	FNMA	Fannie Mae	$91,380	0.03%	6,000	Common	SOLE
Y27183600	GSL	Global Ship Lease	$88,020	0.03%	2,512	Common	SOLE
345370860	F	Ford	$83,749	0.03%	6,383	Common	SOLE
260557103	DOW	Dow Inc	$83,700	0.03%	3,580	Common	SOLE
679295105	OKTA	Okta	$78,947	0.03%	913	Common	SOLE
87265h109	—	Tri Pointe Homes	$77,636	0.03%	2,467	Common	SOLE
046353108	AZNN	Astrazeneca	$73,544	0.02%	800	Common	SOLE
392709101	GRBK	Green Brick Partners	$68,863	0.02%	1,099	Common	SOLE
644393100	NFE	New Fortress Energy	$66,975	0.02%	58,750	Common	SOLE
80007p869	—	SandRidge Energy	$66,955	0.02%	4,640	Common	SOLE
902973304	USB	U S Bancorp	$64,566	0.02%	1,210	Common	SOLE
09857l108	—	Booking Holdings	$58,909	0.02%	11	Common	SOLE
46817M206	JXN	Jackson Financial	$57,354	0.02%	2,200	Common	SOLE
y1968p121	—	Danaos Corp	$57,167	0.02%	607	Common	SOLE
y2685t131	—	Genco Shipping	$57,133	0.02%	3,100	Common	SOLE
860630102	SF	Stifel Financial	$56,850	0.02%	454	Common	SOLE
y8564w103	—	Teekay Inc.	$56,519	0.02%	6,259	Common	SOLE
143816842	—	Star Bulk Carriers	$54,162	0.02%	2,818	Common	SOLE
005566843	—	Barrick Mining Corporation	$53,958	0.02%	1,239	Common	SOLE
64110l106	—	Netflix	$51,193	0.02%	546	Common	SOLE
423403104	MOMO	Hello Group	$50,527	0.02%	7,714	Common	SOLE
31810T101	FINV	FinVolution Group	$50,412	0.02%	9,639	Common	SOLE
90353t100	—	Uber Technologies	$47,392	0.02%	580	Common	SOLE
602566309	MIND	MIND Technology	$46,411	0.02%	5,280	Common	SOLE
87724p106	—	Taylor Morrison Home	$46,095	0.02%	783	Common	SOLE
55826T102	SPHR	Sphere Entertainment Company	$45,353	0.02%	477	Common	SOLE
974155103	WING	Wingstop	$44,598	0.02%	187	Common	SOLE
36266G107	GEHC	GE Healthcare Technologies	$42,732	0.01%	521	Common	SOLE
y81669106	—	Stealthgas	$41,425	0.01%	5,901	Common	SOLE
651639106	NEM	Newmont Mining	$39,940	0.01%	400	Common	SOLE
69374H857	CALF	Pacer US Small Cap Cash Cows	$39,844	0.01%	898	Common	SOLE
85208M102	SFM	Sprouts Farmers Market	$39,835	0.01%	500	Common	SOLE
099789646	—	BW LPG Limited	$39,667	0.01%	3,028	Common	SOLE
L00849106	AGRO	Adecoagro SA	$38,698	0.01%	4,880	Common	SOLE
91325v108	—	Uniti Group	$38,548	0.01%	5,499	Common	SOLE
05945f103	—	BancFirst Corporation	$38,167	0.01%	360	Common	SOLE
26884l109	—	EQT Corp	$37,536	0.01%	700	Common	SOLE
165167735	EXE	Expand Energy Corporation	$37,379	0.01%	339	Common	SOLE
25459y686	—	Direxion Daily Emerging Markets 3X Bull	$35,846	0.01%	657	Common	SOLE
y7542c130	—	Scorpio Tankers	$35,276	0.01%	694	Common	SOLE
233825207	MBGYY	Mercedes	$35,141	0.01%	2,000	Common	SOLE
m9t951009	—	Zim Integrated Shipping	$34,138	0.01%	1,608	Common	SOLE
83212B106	—	Shenandoah Telecommunications	$32,981	0.01%	2,853	Common	SOLE
04010e109	—	Argan	$32,899	0.01%	105	Common	SOLE
46591m109	—	JOYY Inc	$30,955	0.01%	478	Common	SOLE
05561q201	—	BOK Financial	$30,800	0.01%	260	Common	SOLE
31154r109	—	Farmland Partners	$30,746	0.01%	3,173	Common	SOLE
128030202	CALM	Cal-Maine Foods	$30,396	0.01%	382	Common	SOLE
y1771g102	—	Costamare	$30,380	0.01%	1,924	Common	SOLE
412822108	HOG	Harley-Davidson	$30,079	0.01%	1,468	Common	SOLE
88339j105	—	The Trade Desk	$29,685	0.01%	782	Common	SOLE
889478103	TOL	Toll Brothers	$27,044	0.01%	200	Common	SOLE
13057q305	—	California Resource Corp.	$26,960	0.01%	603	Common	SOLE
02376R102	AAL	American Airlines Group	$25,065	0.01%	1,635	Common	SOLE
34959e109	—	Fortinet	$23,744	0.01%	299	Common	SOLE
23331a109	—	DR Horton Inc	$21,605	0.01%	150	Common	SOLE
26875p101	—	EOG Resources	$21,002	0.01%	200	Common	SOLE
72352l106	—	Pinterest	$20,660	0.01%	798	Common	SOLE
665531307	NOG	Northern Oil and Gas	$19,946	0.01%	929	Common	SOLE
302301106	EZPW	EZCORP	$19,420	0.01%	1,000	Common	SOLE
253393102	DKS	Dicks Sporting Goods	$18,609	0.01%	94	Common	SOLE
46269c102	—	Iridium Communications	$18,266	0.01%	1,051	Common	SOLE
m7s64h106	—	Monday.com	$18,002	0.01%	122	Common	SOLE
165167180	EXEEL	Expand Energy	$17,140	0.01%	172	Common	SOLE
197236102	COLB	Columbia Banking System	$16,546	0.01%	592	Common	SOLE
g87264100	—	Tecnoglass	$15,851	0.01%	315	Common	SOLE
202608105	CVGI	Commercial Vehicle Group	$14,828	0.01%	10,297	Common	SOLE
084680107	BBT	Berkshire Hills Bancorp	$14,240	0.00%	540	Common	SOLE
784730103	SSRM	SSR Mining	$13,813	0.00%	630	Common	SOLE
59001a102	—	Meritage Homes Corporation	$13,160	0.00%	200	Common	SOLE
86887q109	—	SuRo Capital	$12,546	0.00%	1,329	Common	SOLE
741511109	PSMT	Pricesmart	$12,267	0.00%	100	Common	SOLE
y2001c101	—	Costamare Bulkers Holdings	$9,724	0.00%	631	Common	SOLE
808524870	SCHP	Schwab US TIPS ETF	$8,159	0.00%	308	Common	SOLE
90984P303	UCB	United Community Banks	$6,868	0.00%	220	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.