13F HOLDINGS REPORT

Pinnacle Holdings, LLC

Quarter ended Q3 2025 · Filed November 12, 2025 · Accession 0001411784-25-000009

Total Value

$286.8M

Positions

246

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (246)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	SPDR Dow Jones Industrial Average	DIA	25,638	$11.9M	4.14%
2	The Goldman Sachs Group	GSCE	9,104	$7.2M	2.53%
3	Freddie Mac	313400301	566,538	$6.7M	2.32%
4	Microsoft Corporation	MSFT	10,730	$5.6M	1.94%
5	Antero Midstream	AM	281,034	$5.5M	1.90%
6	Apple	AAPL	19,842	$5.1M	1.76%
7	Williams Companies	969457100	79,595	$5.0M	1.76%
8	Caterpillar	CAT	9,250	$4.4M	1.54%
9	ONEOK	OKE	58,475	$4.3M	1.49%
10	MPLX	MPLXP	81,423	$4.1M	1.42%
11	Genesis Energy	GEL	239,465	$4.0M	1.39%
12	The Home Depot	HD	9,696	$3.9M	1.37%
13	Kinetik Holdings	KNTK	91,133	$3.9M	1.36%
14	Targa Resources Corp	TRGP	22,751	$3.8M	1.33%
15	Amgen Inc	AMGN	13,283	$3.7M	1.31%
16	JPMorgan Chase & Co.	VYLD	11,578	$3.7M	1.27%
17	SSR Mining	SSRGF	2,530,000	$3.6M	1.24%
18	Alliance Resource Partners	ARLP	128,770	$3.3M	1.14%
19	UnitedHealth Group	UNH	9,231	$3.2M	1.11%
20	Energy Transfer	ET-PI	184,187	$3.2M	1.10%
21	Hess Midstream Partners	HESM	89,096	$3.1M	1.07%
22	Mechanics Bancorp	MCHB	230,379	$3.1M	1.07%
23	Visa	V	8,874	$3.0M	1.06%
24	SB Financial Group	SBFG	156,909	$3.0M	1.06%
25	Sherwin-Williams	SHW	8,705	$3.0M	1.05%
26	Palantir Technologies	PLTR	16,503	$3.0M	1.05%
27	Navios Maritime Partners	y62267102	66,354	$3.0M	1.04%
28	McDonald's Corp	MCD	9,770	$3.0M	1.04%
29	American Express Company	AXP	8,845	$2.9M	1.02%
30	Citigroup	C-PR	28,932	$2.9M	1.02%
31	Plains GP Holdings	PAGP	160,073	$2.9M	1.02%
32	International Business Machines	INTR	10,151	$2.9M	1.00%
33	Nvidia	NVDA	15,063	$2.8M	0.98%
34	Enterprise Products Partners	293792107	89,688	$2.8M	0.98%
35	MGP Ingredients	MGPI	2,905,000	$2.8M	0.97%
36	Burke & Herbert Financial Services	BHRB	43,289	$2.7M	0.93%
37	Unit Corp	UNTCW	89,040	$2.7M	0.93%
38	Western Midstream Partners	WES	67,451	$2.7M	0.92%
39	The Travelers Companies	TRV	9,031	$2.5M	0.88%
40	Brighthouse Financial	10922n103	46,867	$2.5M	0.87%
41	Federal Home Loan Mortgage Corp	313400640	179,580	$2.5M	0.86%
42	NMI Holdings	NMIH	64,159	$2.5M	0.86%
43	Amazon.com	AMZN	10,592	$2.3M	0.81%
44	WisdomTree Investments	WT	1,705,000	$2.2M	0.78%
45	Hovnanian	HOVVB	105,000	$2.2M	0.76%
46	MidWest One Financial Group	598511103	76,743	$2.2M	0.76%
47	First United Corp	FUNC	58,976	$2.2M	0.76%
48	Mesa Air Group Inc	590479135	1,628,136	$2.1M	0.74%
49	Johnson & Johnson	JNJ	11,214	$2.1M	0.72%
50	The Boeing Company	BA-PA	9,611	$2.1M	0.72%
51	Sunoco	SUN	41,450	$2.1M	0.72%
52	Chevron Corporation	CVX	13,125	$2.0M	0.71%
53	salesforce.com	CRM	8,567	$2.0M	0.71%
54	Flagstar Financial	64944p307	50,692	$2.0M	0.70%
55	Kimball Electronics Inc	KE	67,344	$2.0M	0.70%
56	Honeywell International	438516106	9,510	$2.0M	0.70%
57	Bank of America	060505104	38,448	$2.0M	0.69%
58	AMG Capital	AMGN	29,870	$1.9M	0.67%
59	Jackson Financial	JXN-PA	18,235	$1.8M	0.64%
60	The Cheesecake Factory	CAKE	1,745,000	$1.7M	0.60%
61	Shake Shack	SHAK	1,760,000	$1.7M	0.58%
62	Jetblue Airways	JBLU	1,705,000	$1.6M	0.57%
63	Procter & Gamble	742718109	10,601	$1.6M	0.57%
64	Spectrum Brands Holdings	SPB	1,755,000	$1.6M	0.56%
65	Renasant Corp	RNST	42,976	$1.6M	0.55%
66	Hertz Global Holdings	HTZWW	230,566	$1.6M	0.55%
67	NETGEAR	NTGR	47,909	$1.6M	0.54%
68	Delek Logistics Partners	DKL	33,350	$1.5M	0.53%
69	Hawthorn Bancshares	HWBK	47,764	$1.5M	0.52%
70	Eventbrite	EVEX-WT	1,500,000	$1.5M	0.52%
71	Academy Sports & Outdoors	ASO	29,363	$1.5M	0.51%
72	Citizens Community Bancorp	CIA	91,347	$1.5M	0.51%
73	iShares MSCI Emerging Markets	46434g764	21,739	$1.5M	0.51%
74	Kinder Morgan	EP-PC	50,173	$1.4M	0.50%
75	3M Co	MMM	8,941	$1.4M	0.48%
76	Federal National Mortgage Association	313586109	113,388	$1.4M	0.48%
77	Banc of California	BANC-PF	54,484	$1.4M	0.47%
78	Cleveland-Cliffs	CLF	109,624	$1.3M	0.47%
79	Green Plains	GPRE	1,400,000	$1.3M	0.46%
80	First Community Corp	319835104	46,702	$1.3M	0.46%
81	Bank of America	060505682	1,016	$1.3M	0.45%
82	Flagstar Financial	FLG-PU	108,245	$1.3M	0.44%
83	Wal-Mart Stores	WMT	12,126	$1.2M	0.44%
84	Old National Bancorp	680033107	56,751	$1.2M	0.43%
85	Cracker Barrel Old Country Store	CBRL	28,047	$1.2M	0.43%
86	CNB Financial Corp	126128107	50,125	$1.2M	0.42%
87	Talos Energy	TALO	125,738	$1.2M	0.42%
88	Civista Bancshares	CIVB	59,030	$1.2M	0.42%
89	Innoviva	INVA	1,227,000	$1.2M	0.42%
90	Jetblue Airways Corp	477143101	242,096	$1.2M	0.42%
91	Chemours Company	CC	74,891	$1.2M	0.41%
92	La-Z-Boy	LZB	34,490	$1.2M	0.41%
93	LCI Industries	501812AB7	1,205,000	$1.2M	0.41%
94	PubMatic	PUBM	138,822	$1.1M	0.40%
95	Customers Bancorp	CUBB	17,405	$1.1M	0.40%
96	Yelp	YELP	35,838	$1.1M	0.39%
97	Peoples Bancorp	PEBO	36,977	$1.1M	0.39%
98	Alerus Financial	ALRS	48,999	$1.1M	0.38%
99	Parke Bancorp	PKBK	49,941	$1.1M	0.38%
100	Peoples Bancorp of NC	PEBO	34,889	$1.1M	0.37%
101	Orrstow Financial Services	687380105	31,230	$1.1M	0.37%
102	Turtle Beach Corp	TBCH	65,039	$1.0M	0.36%
103	Peoples Financial	71103b102	48,476	$1.0M	0.36%
104	Walt Disney	254687106	8,906	$1.0M	0.36%
105	Arcbest Corp	ARCB	14,109	$985,796	0.34%
106	Banc of California	BANC-PF	56,942	$942,390	0.33%
107	OceanFirst Financial	675234108	51,240	$900,287	0.31%
108	Deutsche Bank	OLOXF	24,900	$881,709	0.31%
109	Merck	MRK	10,486	$880,090	0.31%
110	Expro Group Holdings	n3144w105	73,049	$867,824	0.30%
111	United Bancshares	UNTCW	22,302	$824,728	0.29%
112	Vaalco Energy	EGY	204,817	$823,364	0.29%
113	Westlake Chemical Partners	WLK	39,167	$822,115	0.29%
114	Cisco Systems	CSCO	11,500	$786,830	0.27%
115	Hope Bancorp	HOPE	70,780	$762,301	0.27%
116	Zions Bancorp	989701107	13,244	$749,346	0.26%
117	SPDR S&P 600 Small Cap Value ETF	78464a300	8,105	$718,465	0.25%
118	Primis Financial	FRST	68,216	$716,950	0.25%
119	Eventbrite	EVEX-WT	270,599	$681,909	0.24%
120	First US Bancshares	FUSB	55,806	$670,788	0.23%
121	Oracle Corporation	ORCL-PD	2,367	$665,695	0.23%
122	Kearny Financial Corp	KRNY	101,080	$664,096	0.23%
123	PAM Transporation Services	PAMT	57,915	$660,231	0.23%
124	ProShares S&P 500 Dividend Aristocrat	74348a467	6,361	$655,590	0.23%
125	The Coca-Cola Company	KO	9,742	$646,089	0.23%
126	Unisys Corp	UIS	163,238	$636,628	0.22%
127	Citizens Financial Group	CIA	11,657	$619,686	0.22%
128	Truist Financial Corp	TFC-PR	13,520	$618,134	0.22%
129	Nike	NKE	8,846	$616,832	0.22%
130	First Northwest BanCorp	FNWB	72,000	$566,640	0.20%
131	LGI Homes	LGIH	10,778	$557,330	0.19%
132	Fifth Third Bancorp	FITBM	11,625	$517,894	0.18%
133	Verizon Communications	VZ	11,278	$495,668	0.17%
134	Blackline Corp	BL	500,000	$487,000	0.17%
135	Okta	OKTA	500,000	$485,237	0.17%
136	Exxon Mobil Corporation	XOM	4,224	$476,218	0.17%
137	Bill.com Holdings	BILL	500,000	$464,750	0.16%
138	The First Financial Corp	320218100	8,190	$462,256	0.16%
139	Community West Bancshares	CWBC	21,906	$456,521	0.16%
140	General Electric Company	GE	1,506	$453,185	0.16%
141	Eagle Bancorp Montana	EBMT	25,814	$445,808	0.16%
142	Hertz Global Holdings	HTZWW	110,775	$412,083	0.14%
143	Vital Energy	516806205	23,779	$401,627	0.14%
144	Coupa Software	22266LAF3	500,000	$400,000	0.14%
145	Hancock Whitney Corporation	HWCPZ	6,232	$390,186	0.14%
146	XPLR Infrastructure	NEE-PW	37,886	$385,301	0.13%
147	CVB Financial	126600105	19,803	$374,475	0.13%
148	Sounds Financial	83607a100	7,180	$330,711	0.12%
149	Meta Platforms	META	428	$314,327	0.11%
150	Unit Corp	UNTCW	142,869	$285,738	0.10%
151	New Fortress Energy	NFE	111,524	$246,468	0.09%
152	Invesco NASDAQ 100 Trust	IVZ	617	$242,991	0.08%
153	Mastercard Inc	MA	400	$227,524	0.08%
154	iShares Barclays TIPS Bond	464287176	2,036	$226,490	0.08%
155	Providient Financial Services	74386T105	11,563	$222,939	0.08%
156	Wells Fargo	949746101	2,572	$215,585	0.08%
157	GE Vernova	GEV	330	$202,917	0.07%
158	Kratos Defense & Security Solutions	50077b207	2,000	$182,740	0.06%
159	Intel Corporation	INTC	5,277	$177,043	0.06%
160	QCR Holdings	QCRH	2,222	$168,073	0.06%
161	Taiwan Semiconductor Manufacturing	874039100	524	$146,348	0.05%
162	Hugoton Royalty Trust	HGTXU	369,194	$121,557	0.04%
163	F.N.B. Corporation	302520101	7,068	$113,865	0.04%
164	Alpha Metallurgical Resources	020764106	690	$113,239	0.04%
165	Coterra Energy	CTRA	4,786	$113,189	0.04%
166	Macy's	M	6,199	$111,148	0.04%
167	Devon Energy Corporation	25179m103	3,091	$108,370	0.04%
168	McDermott International	220014096	5,422	$107,899	0.04%
169	Talen Energy Corporation	TLN	250	$106,345	0.04%
170	Hallador Energy	HNRG	5,244	$102,625	0.04%
171	Federal National Mortgage Association	313586752	6,000	$99,600	0.03%
172	Plains All American Pipeline	726503105	5,560	$94,854	0.03%
173	A T & T	T-PC	2,972	$83,929	0.03%
174	Argan Inc	AGX	307	$82,905	0.03%
175	Ford	345370860	6,755	$80,789	0.03%
176	Teekay Inc	TK	9,633	$78,798	0.03%
177	Global Ship Lease	GSL-PB	2,559	$78,561	0.03%
178	Teekay Tankers	TNK	1,478	$74,713	0.03%
179	FinVolution Group	FVGPY	9,780	$72,079	0.03%
180	CIA De Minas Buenventur	204448104	2,887	$70,241	0.02%
181	Booking Holdings	BKNG	13	$70,191	0.02%
182	Republic Services	760759100	305	$69,991	0.02%
183	Stealthgas	GASS	10,300	$67,465	0.02%
184	Centerra Gold	CGAU	6,124	$65,711	0.02%
185	Tri Pointe Homes	TPH	1,877	$63,762	0.02%
186	Astrazeneca	AZN	800	$61,376	0.02%
187	General Motors	37045v100	995	$60,665	0.02%
188	Hello Group Inc	MOMO	7,849	$58,240	0.02%
189	Jackson Financial Preferred	JXN-PA	2,200	$57,310	0.02%
190	Uber Technologies	UBER	580	$56,823	0.02%
191	S&P Global Inc	SPGI	115	$55,972	0.02%
192	Danaos Corp	DAC	621	$55,772	0.02%
193	Sphere Entertainment Company	SPHR	889	$55,225	0.02%
194	Genco Shipping	y2685t131	3,100	$55,180	0.02%
195	Sprouts Farmers Market	85208M102	500	$54,400	0.02%
196	Health Care Select Sector SPDR	81369y209	379	$52,745	0.02%
197	SandRidge Energy	SD	4,640	$52,339	0.02%
198	Dow Inc	DOW	2,084	$47,786	0.02%
199	Wingstop	WING	187	$47,064	0.02%
200	BancFirst Corporation	BANFP	360	$45,522	0.02%
201	BW LPG Limited	BWLP	3,028	$43,240	0.02%
202	The Trade Desk	88339j105	882	$43,227	0.02%
203	TransDigm Group	TDG	31	$40,859	0.01%
204	Pacer US Small Cap Cash Cows	69374H857	898	$39,314	0.01%
205	GE Healthcare Technologies	GEHC	522	$39,202	0.01%
206	Adecoagro SA	AGRO	4,994	$39,153	0.01%
207	Shenandoah Telecommunications	SHEN	2,915	$39,119	0.01%
208	Scorpio Tankers Inc	STNG	694	$38,899	0.01%
209	Energy Select Sector SPDR	81369y506	432	$38,595	0.01%
210	EQT Corp	EQT	700	$38,117	0.01%
211	United Parcel Service	UPS	445	$37,171	0.01%
212	Uniti Group	UNIT	5,800	$35,496	0.01%
213	Newmont Mining	NEMCL	400	$33,724	0.01%
214	Direxion Daily Emerging Markets 3X Bull	25459y686	657	$33,507	0.01%
215	Star Bulk Carriers	SBLK	1,738	$32,309	0.01%
216	Stifel Financial Corp	860630102	284	$32,225	0.01%
217	Berry Corp	08579x101	8,455	$31,960	0.01%
218	Taylor Morrison Home Corporation	TMHC	483	$31,883	0.01%
219	Mercedes-Benz Group AG	233825207	2,000	$31,420	0.01%
220	Ardmore Shiipping Corp	y0207t100	2,602	$30,886	0.01%
221	Bunge Ltd	BG	375	$30,469	0.01%
222	MIND Technology	MIND	3,460	$27,991	0.01%
223	Ranger Energy Services	RNGR	1,979	$27,785	0.01%
224	Expand Energy Corporation	EXE	261	$27,697	0.01%
225	Tenaris SA	TNRSF	774	$27,686	0.01%
226	Pinterest Inc	PINS	798	$25,672	0.01%
227	Fortinet	FTNT	299	$25,140	0.01%
228	International Seaways Inc	INSW	533	$24,561	0.01%
229	Monday.com	MNDY	122	$23,630	0.01%
230	Northern Oil and Gas	NOG	929	$23,039	0.01%
231	EOG Resources	EOG	200	$22,424	0.01%
232	Zim Integrated Shipping	ZIM	1,608	$21,788	0.01%
233	AerCap Holdings NV	AER	180	$21,780	0.01%
234	Tecnoglass Inc	TGLS	315	$21,077	0.01%
235	Dicks Sporting Goods	253393102	94	$20,889	0.01%
236	EZCORP	EZPW	1,000	$19,040	0.01%
237	American Airlines Group	02376R102	1,635	$18,377	0.01%
238	Iridium Communications	IRDM	1,051	$18,350	0.01%
239	Direxion Daily Semiconductor Bear 3x	25460g112	3,468	$17,930	0.01%
240	Commercial Vehicle Group	202608105	10,297	$17,505	0.01%
241	SSR Mining Inc	SSRGF	630	$15,379	0.01%
242	Columbia Banking System	197236102	592	$15,238	0.01%
243	Meritage Homes Corporation	MTH	200	$14,486	0.01%
244	SuRo Capital	SSSSL	1,329	$11,961	0.00%
245	Schwab US TIPS	808524870	308	$8,301	0.00%
246	Pacwest Bancorp	695263202	250	$6,250	0.00%