Pinnacle Holdings, LLC

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), Pinnacle Holdings, LLC reported 204 stock positions worth $226.6 million. Its top holding was SS SPDR Dow Jones Indus Avg (DIA) at 4.6% of the portfolio, followed by Oneok (OKE, 2.5%) and Antero Midstream (AM, 2.2%). Compared with Q4 2024, it opened 23 new positions, sold out of 21, added to 37 and reduced 68. The biggest buy was Plains GP (PAGP, shares +3192%) and the biggest sale an exit from Enlink Midstream (ENLC).

Most Recent 13F
Q2 2026
Location
TULSA, OK
CIK
0001411784
Portfolio Value
$226.6M (Q1 2025)
SEC Filing
0001411784-25-000004 ↗ filed May 13, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $242.1M Q1 2024 Q2 2024: $214.0M Q2 2024 Q3 2024: $225.6M Q3 2024 Q4 2024: $230.0M Q4 2024 Q1 2025: $226.6M $226.6M Q1 2025 Q2 2025: $240.0M Q2 2025 Q3 2025: $254.7M Q3 2025 Q4 2025: $263.5M Q4 2025 Q1 2026: $280.5M Q1 2026 Q2 2026: $303.7M Q2 2026

Holdings 204 stocks · $226.6M
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 4.56% 24,626 $10.3M Reduce -4.4%
OKE Oneok Inc. 2.50% 57,164 $5.7M Add +0.3%
AM Antero Midstream Corp. 2.24% 282,483 $5.1M Reduce -0.9%
WMB Williams Cos Inc. 2.15% 81,530 $4.9M Reduce -1.6%
KNTK Kinetik Holdings Inc. 2.04% 89,039 $4.6M Reduce -8.0%
GS Goldman Sachs Group Inc. 2.01% 8,345 $4.6M Reduce -4.6%
TRGP Targa Resources Corp. 2.00% 22,827 $4.5M Reduce -32.6%
UNH Unitedhealth Group Inc. 1.97% 8,521 $4.5M Reduce -4.8%
MPLX MPLX LP 1.90% 80,530 $4.3M Reduce -0.4%
MSFT Microsoft Corp. 1.79% 10,830 $4.1M Reduce -5.5%
AAPL Apple Inc. 1.76% 17,988 $4.0M Reduce -13.6%
AMGN Amgen Inc. 1.73% 12,564 $3.9M Reduce -3.1%
GEL Genesis Energy L.P. 1.64% 236,600 $3.7M Add +0.7%
HESM Hess Midstream LP Class A 1.57% 84,027 $3.6M Reduce -1.1%
ARLP Alliance Resource Partners 1.54% 128,216 $3.5M Reduce -0.1%
ET Energy Transfer LP 1.49% 181,626 $3.4M Reduce -0.9%
PAGP Plains GP Holdings LP 1.48% 156,917 $3.4M Add +3191.7%
HD Home Depot Inc. 1.45% 8,985 $3.3M Reduce -4.3%
SBFG SB Financial Group Inc. filed as SB FINL GROUP INC 1.44% 156,897 $3.3M No change
NVDA Nvidia Corp. 1.33% 27,828 $3.0M Reduce -3.0%
EPD Enterprise Products Partners 1.32% 87,411 $3.0M Reduce -0.3%
V Visa Inc. Class A 1.27% 8,214 $2.9M Reduce -5.1%
MCD McDonald's Corp. 1.25% 9,103 $2.8M Reduce -4.4%
SHW The Sherwin-Williams Co. 1.24% 8,065 $2.8M Add +2.9%
CAT Caterpillar Inc. 1.24% 8,536 $2.8M Reduce -4.6%
WES Western Gas Equity Partners 1.20% 66,516 $2.7M Reduce -0.2%
JPM JPMorgan Chase & Co. 1.19% 11,022 $2.7M Reduce -4.3%
Homestreet Inc 1.19% 229,373 $2.7M Add +1.5%
BHF Brighthouse Financial Inc. 1.17% 45,885 $2.7M Reduce -0.9%
NAVIOS MARITIME PARTNERS L P 1.14% 66,099 $2.6M Add +0.5%
UNTC Unit Corp. 1.10% 89,040 $2.5M Reduce -0.2%
BHRB Burke & Herbert Financial SE 1.07% 43,348 $2.4M Add +0.1%
ETC SUNOCO HOLDINGS LLC filed as SUNOCO INC 1.06% 41,450 $2.4M New
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 1.05% 9,597 $2.4M Reduce -4.1%
FMCC Freddie Mac filed as FEDERAL HOME LN MTG CORP 1.04% 441,367 $2.4M Add +0.9%
NMIH Nmi Holdings Inc. filed as NMI HLDGS INC 1.02% 63,902 $2.3M Add +0.1%
MOFG Midwestone Financial Group I 1.00% 76,635 $2.3M Reduce -0.5%
TRV The Travelers Cos Inc. 0.97% 8,312 $2.2M Reduce -4.4%
AXP American Express Co. 0.97% 8,135 $2.2M Reduce -4.5%
CVX Chevron Corp. 0.93% 12,572 $2.1M Reduce -3.8%
CRM Salesforce Inc. 0.93% 7,812 $2.1M Reduce -5.1%
C Citigroup Inc. 0.91% 28,960 $2.1M No change
AMZN Amazon.com Inc. 0.86% 10,193 $1.9M Reduce -3.4%
HON Honeywell International Inc. 0.83% 8,907 $1.9M Reduce -4.5%
JNJ Johnson & Johnson 0.79% 10,744 $1.8M Reduce -3.6%
FUNC First United Corp. 0.78% 58,976 $1.8M No change
PG The Procter & Gamble Co. 0.77% 10,174 $1.7M Reduce -4.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.71% 38,471 $1.6M No change
AGX Argan Inc. 0.68% 11,732 $1.5M Reduce -0.8%
JXN Jackson Financial Inc. Class A 0.67% 18,235 $1.5M No change
BA The Boeing Co. 0.67% 8,892 $1.5M Reduce -4.1%
FBMS First Bancshares Inc. 0.64% 42,976 $1.5M No change
DKL Delek Logistics Partners LP 0.64% 33,470 $1.4M No change
KMI Kinder Morgan Inc. 0.64% 50,485 $1.4M Reduce -0.3%
HWBK Hawthorn Bancshares Inc. 0.59% 47,764 $1.3M No change
CZWI Citizens Community Bancorp I 0.58% 91,347 $1.3M No change
Palantir Technologies 0.58% 15,450 $1.3M Add +5.6%
YELP Yelp Inc. 0.57% 34,649 $1.3M Add +2.1%
ASO Academy Sports & Outdoors Inc. 0.56% 28,034 $1.3M Reduce -1.1%
MMM 3M Co. 0.53% 8,240 $1.2M Reduce -4.4%
TALO Talos Energy Inc. 0.53% 124,378 $1.2M Add +2.9%
ONB Old National Bancorp 0.53% 56,751 $1.2M No change
NTGR Netgear Inc. 0.51% 47,544 $1.2M Reduce -0.9%
CIVB Civista Bancshares Inc. 0.51% 59,030 $1.2M No change
JBLU Jetblue Airways Corp. 0.51% 237,596 $1.1M Add +1.3%
LZB La-Z-Boy Inc. 0.49% 28,642 $1.1M Reduce -0.9%
ESSA Essa Bancorp Inc. 0.49% 58,656 $1.1M No change
PEBO Peoples Bancorp Inc. 0.48% 36,975 $1.1M No change
KE Kimball Electronics Inc. 0.48% 66,127 $1.1M Add +7.3%
CBRL Cracker Barrel Old Country 0.48% 28,000 $1.1M New
FCCO First Community Corp. 0.47% 46,850 $1.1M No change
PUBM Pubmatic Inc. Class A 0.46% 113,736 $1.0M New
FLG Flagstar Bank NA 0.45% 88,245 $1.0M Add +1.6%
WMT Walmart Inc. 0.45% 11,651 $1.0M Reduce -3.2%
BRK.B Berkshire Hathaway Inc. Class B 0.43% 1,822 $970K New
ARCB Arcbest Corp. 0.43% 13,746 $970K Add +3.4%
CC The Chemours Co. 0.42% 70,766 $957K Add +9.3%
PEBK Peoples Bancorp of NC 0.42% 34,889 $950K No change
PKBK Parke Bancorp Inc. 0.42% 49,941 $941K No change
ORRF Orrstown Finl Services Inc. 0.41% 31,230 $937K No change
PFBX Peoples Financial Corp. 0.41% 48,476 $937K No change
WLKP Westlake Chemical Partners L 0.40% 39,317 $908K No change
NFE New Fortress Energy Inc. 0.40% 109,139 $907K No change
ALRS Alerus Financial Corp. 0.40% 48,999 $905K No change
HTZ Hertz Global Hldgs Inc. 0.40% 228,890 $902K Add +3.1%
MRK Merck & Co. Inc. 0.39% 9,902 $889K Reduce -5.6%
CUBI Customers Bancorp Inc. 0.39% 17,405 $874K No change
OCFC Oceanfirst Financial Corp. 0.38% 51,240 $872K No change
CLF Cleveland-Cliffs Inc. 0.38% 105,791 $870K Add +1.3%
TBCH Turtle Beach Corp. 0.37% 59,208 $845K Reduce -1.3%
BANC Banc of California Inc. 0.37% 58,912 $836K Add +33.7%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.35% 8,151 $805K Reduce -4.7%
EGY Vaalco Energy Inc. 0.34% 205,117 $771K No change
FUSB First US Bancshares Inc. 0.33% 55,806 $746K No change
HOPE Hope Bancorp Inc. 0.33% 70,780 $741K No change
CSCO Cisco Systems Inc. 0.32% 11,702 $722K Reduce -8.0%
FNMA Fannie Mae 0.32% 113,388 $717K Add +0.3%
XPRO Expro Group Holdings NV 0.31% 69,799 $694K Add +3.8%
UIS Unisys Corp. 0.30% 149,171 $685K Add +7.4%
LGIH Lgi Homes Inc. 0.30% 10,190 $677K Add +18.9%
FRST Primis Financial Corp. 0.29% 68,216 $666K No change
SLYV SS SPDR S&P 600 SC Val ETF 0.29% 8,492 $666K Add +13.7%
KO The Coca-Cola Co. 0.29% 9,249 $662K Reduce -11.0%
ZION Zions Bancorp NA 0.29% 13,244 $660K No change
PAMT Pamt Corp. 0.29% 53,986 $655K Add +6.8%
MESA AIR GROUP INC 0.28% 820,953 $643K Add +8.4%
KRNY Kearny Financial Corp. 0.27% 99,180 $621K New
UBOH United Bancshares Inc. 0.27% 22,802 $620K No change
DB Deutsche Bank AG-Registered 0.26% 24,900 $593K No change
TFC Truist Financial Corp. 0.25% 13,520 $556K No change
SSUP Superior Industries Intl 0.24% 255,228 $544K Add +11.2%
Nextera Energy 0.23% 7,481 $530K No change
NKE Nike Inc. Class B 0.23% 8,097 $514K Reduce -4.8%
EB Eventbrite Inc. Class A 0.22% 240,993 $508K Reduce -1.1%
XOM Exxon Mobil Corp. 0.22% 4,213 $501K Add +0.0%
VZ Verizon Communications Inc. 0.22% 10,808 $490K Reduce -6.7%
VTLE Vital Energy Inc. 0.21% 22,576 $479K Add +6.8%
CFG Citizens Financial Group 0.21% 11,657 $478K No change
FITB Fifth Third Bancorp 0.20% 11,625 $456K No change
BG Bunge Ltd. filed as BUNGE GLOBAL ORD 0.20% 5,817 $445K Reduce -2.1%
EBMT Eagle Bancorp Montana Inc. 0.19% 25,814 $433K No change
NOBL Proshares S&P 500 Dividend A 0.18% 4,078 $417K Add +55.5%
CWBC Community West Bancshares 0.18% 21,906 $405K No change
THFF First Financial Corp. 0.18% 8,190 $401K No change
ORCL Oracle Corp. 0.17% 2,779 $389K Reduce -7.1%
SFBC Sound Financial Bancorp Inc. 0.17% 7,709 $387K No change
XIFR XPLR Infrastructure LP 0.16% 37,700 $358K Add +1.9%
GE General Electric Company 0.15% 1,681 $337K New
HWC Hancock Whitney Corp. 0.14% 6,232 $327K No change
TIP iShares Tips Bond ETF 0.10% 2,119 $235K Add +15.8%
PFS Provident Financial Services 0.09% 11,563 $199K No change
HGTXU Hugoton Royalty Trust 0.08% 376,694 $192K New
WFC Wells Fargo & Co. 0.08% 2,572 $185K Reduce -1.5%
AAL American Airlines Group Inc. 0.08% 16,546 $175K No change
QCRH QCR Holdings Inc. 0.07% 2,222 $158K No change
CVBF CVB Financial Corp. 0.06% 7,803 $144K No change
GEV GE Vernova Inc. 0.06% 424 $129K No change
INTC Intel Corp. 0.05% 5,277 $120K Reduce -0.3%
QQQ Invesco QQQ Trust Series 1 0.05% 246 $115K New
DVN Devon Energy Corp. 0.05% 3,052 $114K No change
PAA Plains All Amer Pipeline LP 0.05% 5,560 $111K No change
FINV Finvolution Group-ADR 0.05% 10,617 $102K No change
FNB FNB Corp. 0.04% 7,068 $95K No change
AMR Alpha Metallurgical Resource 0.04% 734 $92K No change
TSM Taiwan Semiconductor-SP ADR 0.04% 509 $84K No change
McDermott International 0.03% 4,796 $79K Reduce -98.8%
DAC Danaos Corp. 0.03% 1,011 $79K No change
GSL Global Ship Lease Inc. Class A 0.03% 3,359 $77K No change
SFM Sprouts Farmers Market Inc. 0.03% 500 $76K No change
HNRG Hallador Energy Co. 0.03% 5,538 $68K Add +33.0%
F Ford Motor Co. filed as FORD MTR CO 0.03% 6,735 $68K Add +0.2%
TEEKAY CORPORATION 0.03% 9,827 $65K Reduce -2.0%
GASS Stealthgas Inc. 0.03% 10,774 $61K Reduce -4.2%
KTOS Kratos Defense & Security 0.03% 2,000 $59K Add +100.0%
AZN Astrazeneca PLC-Spons ADR 0.03% 800 $59K No change
AGRO Adecoagro SA 0.03% 5,198 $58K Reduce -0.1%
TNK Teekay Tankers Ltd. Class A 0.03% 1,484 $57K Reduce -1.7%
UBER Uber Technologies Inc. 0.02% 731 $53K No change
SD Sandridge Energy Inc. 0.02% 4,640 $53K No change
USB US Bancorp 0.02% 1,253 $53K New
MOMO Hello Group Inc. -SPN ADR 0.02% 8,376 $53K No change
TOL Toll Brothers Inc. 0.02% 472 $50K Add +136.0%
GEHC GE Healthcare Technology 0.02% 581 $47K Reduce -3.8%
M Macy's Inc. 0.02% 3,500 $44K No change
EXE Expand Energy Corp. 0.02% 392 $44K No change
GNK Genco Shipping & Trading Ltd. 0.02% 3,100 $41K No change
BANF Bancfirst Corp. 0.02% 360 $40K New
CGAU Centerra Gold Inc. 0.02% 6,124 $39K New
Shenandoah Telecommunications 0.02% 3,020 $38K No change
EQT Eqt Corp. 0.02% 700 $37K No change
PDM Piedmont Realty Trust Inc. 0.02% 4,718 $35K No change
CALF PCR US SM CP CSH CWS ETF-Usd 0.01% 898 $34K No change
ENFR Alerian Energy Infrastructur 0.01% 1,000 $33K New
SPHR Sphere Entertainment Co. 0.01% 972 $32K No change
BFH Bread Financial Holdings Inc. 0.01% 630 $32K Reduce -16.0%
CMRE Costamare Inc. 0.01% 3,170 $31K No change
BDN Brandywine Realty Trust 0.01% 6,983 $31K Reduce -8.6%
AER Aercap Holdings NV 0.01% 304 $31K Reduce -16.3%
BCS Barclays PLC-Spons ADR 0.01% 2,012 $31K Reduce -34.7%
PINS Pinterest Inc. Class A 0.01% 986 $31K No change
RNGR Ranger Energy Services Class A 0.01% 2,062 $29K New
UNIT Uniti Group LLC Com SHS 0.01% 5,800 $29K No change
IRDM Iridium Communications Inc. 0.01% 1,051 $29K Reduce -31.2%
RYAM Rayonier Advanced Materials 0.01% 4,923 $28K Reduce -23.1%
NOG Northern Oil and Gas Inc. 0.01% 929 $28K New
BRY Berry Corp. 0.01% 8,455 $27K New
ASC Ardmore Shipping Corp. 0.01% 2,752 $27K New
STNG Scorpio Tankers Inc. 0.01% 694 $26K New
EOG EOG Resources Inc. 0.01% 200 $26K No change
VET Vermilion Energy Inc. 0.01% 3,053 $25K No change
B Barrick Gold Corp. 0.01% 1,239 $24K No change
ZIM Zim Integrated Shipping Serv 0.01% 1,608 $23K New
TGLS Tecnoglass Holdings Inc. 0.01% 327 $23K New
NEM Newmont Corp. 0.01% 400 $19K New
GM General Motors Co. 0.01% 400 $19K New
INSW International Seaways Inc. 0.01% 546 $18K Reduce -5.2%
COLB Columbia Banking System Inc. 0.01% 592 $15K No change
EZPW Ezcorp Inc. Class A 0.01% 1,000 $15K No change
MTH Meritage Homes Corp. 0.01% 200 $14K Reduce -50.0%
BBT Beacon Financial Corp. filed as BERKSHIRE HILLS BANCORP INC 0.01% 540 $14K No change
Cenovus Energy Inc 0.01% 948 $13K New
NSLR Neostellar Capital Corp. filed as SURO CAPITAL CORP 0.00% 1,329 $7K New
EAF Graftech International Ltd. 0.00% 6,225 $5K No change
OSG Octave Specialty Group Inc. filed as AMBAC FINL GROUP INC 0.00% 186 $2K No change
Other holdings (33): bonds, preferreds, convertibles and warrants · $36.5M (not counted above)
SecurityClassShares / PrincipalValueChange
MGP INGREDIENTS INC (MGPI 1.875 11/15/41) NOTE 1.875%11/1 · principal 2,905,000$2.7MNew
JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) CONVERTIBLE BOND · principal 2,710,000$2.5MReduce -0.2%
SSR MINING INC (SSRMCN 2.5 04/01/39) NOTE 2.500% 4/0 · principal 2,530,000$2.5MNo change
FLAGSTAR BANK NA (FLG 6 11/01/51) UNIT 05/07/2051 50,192$1.9MAdd +1.2%
FREDDIE MAC (FMCC 6.55 PERP Y) PREF STK 179,580$1.8MNo change
VISHAY INTERTECHNOLOGY (VSH 2.25 06/15/25) NOTE 2.250% 6/1 · principal 1,805,000$1.8MNo change
WISDOMTREE INVESTMENTS (WT 3.25 06/15/26) NOTE 3.250% 6/1 · principal 1,705,000$1.8MReduce -0.6%
CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26) NOTE 0.375% 6/1 · principal 1,745,000$1.7MReduce -0.3%
SHAKE SHACK INC (SHAK 0 03/01/28) NOTE 3/0 · principal 1,760,000$1.6MReduce -0.3%
AMG CAPITAL TRUST II (AMG 5.15 10/15/37) CONV PRF 30,570$1.6MAdd +5.2%
FARO TECHNOLOGIES INC (FARO 5.5 02/01/28) NOTE 5.500% 2/0 · principal 1,487,000$1.5MReduce -0.7%
EVENTBRITE INC (EB 5 12/01/25) NOTE 5.000%12/0 · principal 1,480,000$1.5MReduce -0.3%
BANC OF CALIFORNIA INC (BANC V7.75 PERP F) NON 13F SECURITY 54,734$1.4MNo change
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 1,022$1.3MReduce -0.9%
EZCORP INC (EZPW 2.375 05/01/25) NOTE 2.375% 5/0 · principal 1,246,000$1.2MReduce -4.2%
GREEN PLAINS INC (GPRE 2.25 03/15/27) NOTE 2.250% 3/1 · principal 1,400,000$1.2MNew
INNOVIVA INC (INVA 2.125 03/15/28) NOTE 2.125% 3/1 · principal 1,207,000$1.2MNo change
LCI INDUSTRIES (LCII 1.125 05/15/26) NOTE 1.125% 5/1 · principal 1,215,000$1.2MReduce -0.4%
AIR TRANSPORT SERVICES G (ATSG 3.875 08/15/29) NOTE 3.875% 8/1 · principal 1,012,000$1.0MAdd +1.5%
ZSCALER INC. (ZS 0.125 07/01/25) NOTE 0.125% 7/0 · principal 750,000$992KNo change
DATADOG INC (DDOG 0.125 06/15/25) NOTE 0.125% 6/1 · principal 750,000$839KNo change
CLOUDFLARE INC (NET 0 08/15/26) NOTE 8/1 · principal 500,000$502KNo change
FIVE9 INC (FIVN 0.5 06/01/25) NOTE 0.500% 6/0 · principal 500,000$494KNo change
COUPA SOFTWARE INC (COUP 0.375 06/15/26) NOTE 0.375% 6/1 · principal 500,000$490KNo change
BLACKLINE INC (BL 0 03/15/26) NOTE 3/1 · principal 500,000$478KNo change
OKTA INC (OKTA 0.375 06/15/26) NOTE 0.375% 6/1 · principal 500,000$477KNo change
BILL HOLDINGS INC (BILL 0 04/01/27) NOTE 4/0 · principal 500,000$452KNo change
HTZWW Hertz Global Hldgs Inc. -CW51 *W EXP 06/30/205 110,775$250KAdd +9.9%
FANNIE MAE (FNMA V8.25 PERP S) Preferred Stock 6,000$71KNo change
UNTCW Unit Corp.-CW27 WARRANT 142,869$64KNo change
JACKSON FINANCIAL INC (JXN V8 PERP) PFD 2,200$58KNo change
AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) NOTE 6.500% 7/0 · principal 50,000$50KNo change
EXEEL Chesapeake Energy Corp. -CW26 *W EXP 02/09/202 287$29KAdd +0.3%

Total filed on the 13F, all lines: $263.1M.

Portfolio Sells Q4 2024 → Q1 2025
ENLC Enlink Midstream LLC Sold out 0.00% −0.95
TRGP Targa Resources Corp. Reduce -32.6% 2.00% −0.63
EMXC iShares MSCI Emr MRK Ex Chna Sold out 0.00% −0.54
AAPL Apple Inc. Reduce -13.6% 1.76% −0.50
KNTK Kinetik Holdings Inc. Reduce -8.0% 2.04% −0.35
NVDA Nvidia Corp. Reduce -3.0% 1.33% −0.35
MSFT Microsoft Corp. Reduce -5.5% 1.79% −0.31
CRM Salesforce Inc. Reduce -5.1% 0.93% −0.27
DIA SS SPDR Dow Jones Indus Avg Reduce -4.4% 4.56% −0.20
CAT Caterpillar Inc. Reduce -4.6% 1.24% −0.17
GS Goldman Sachs Group Inc. Reduce -4.6% 2.01% −0.17
SBT Sterling Bancorp Inc. Sold out 0.00% −0.16
AMZN Amazon.com Inc. Reduce -3.4% 0.86% −0.15
ASO Academy Sports & Outdoors Inc. Reduce -1.1% 0.56% −0.14
HD Home Depot Inc. Reduce -4.3% 1.45% −0.14
AXP American Express Co. Reduce -4.5% 0.97% −0.13
EB Eventbrite Inc. Class A Reduce -1.1% 0.22% −0.13
CHX Championx Corp. Sold out 0.00% −0.12
MA Mastercard Inc. Class A Sold out 0.00% −0.10
HON Honeywell International Inc. Reduce -4.5% 0.83% −0.08
TBCH Turtle Beach Corp. Reduce -1.3% 0.37% −0.08
UNTC Unit Corp. Reduce -0.2% 1.10% −0.07
ET Energy Transfer LP Reduce -0.9% 1.49% −0.07
NTGR Netgear Inc. Reduce -0.9% 0.51% −0.07
COP Conocophillips Sold out 0.00% −0.06
MRK Merck & Co. Inc. Reduce -5.6% 0.39% −0.06
DIS The Walt Disney Co. Reduce -4.7% 0.35% −0.06
ICVT iShares Convertible Bond ETF Sold out 0.00% −0.06
CTRA Coterra Energy Inc. Sold out 0.00% −0.05
LZB La-Z-Boy Inc. Reduce -0.9% 0.49% −0.05
NKE Nike Inc. Class B Reduce -4.8% 0.23% −0.05
ORCL Oracle Corp. Reduce -7.1% 0.17% −0.05
BA The Boeing Co. Reduce -4.1% 0.67% −0.04
DOW Dow Inc. Sold out 0.00% −0.04
JETS US Global Jets ETF Sold out 0.00% −0.03
T AT&T Inc. Sold out 0.00% −0.03
AGX Argan Inc. Reduce -0.8% 0.68% −0.03
CEG Constellation Energy Group Sold out 0.00% −0.02
WMT Walmart Inc. Reduce -3.2% 0.45% −0.02
OKTA Okta Inc. Sold out 0.00% −0.02
RTX RTX Corp. Sold out 0.00% −0.01
BOKF Bok Financial Corporation Sold out 0.00% −0.01
FICO Fair Isaac Corp. Sold out 0.00% −0.01
CVGI Commercial Vehicle Group Inc. Sold out 0.00% −0.01
RYAM Rayonier Advanced Materials Reduce -23.1% 0.01% −0.01
DHI D.R. Horton Inc. Sold out 0.00% −0.01
CSCO Cisco Systems Inc. Reduce -8.0% 0.32% −0.01
PG The Procter & Gamble Co. Reduce -4.0% 0.77% −0.01
JPM JPMorgan Chase & Co. Reduce -4.3% 1.19% −0.01
MTH Meritage Homes Corp. Reduce -50.0% 0.01% −0.01

Portfolio Buys Q4 2024 → Q1 2025
PAGP Plains GP Holdings LP Add +3191.7% 1.48% +1.44
ETC SUNOCO HOLDINGS LLC New 1.06% +1.06
GEL Genesis Energy L.P. Add +0.7% 1.64% +0.61
CBRL Cracker Barrel Old Country New 0.48% +0.48
PUBM Pubmatic Inc. Class A New 0.46% +0.46
BRK.B Berkshire Hathaway Inc. Class B New 0.43% +0.43
FMCC Freddie Mac Add +0.9% 1.04% +0.42
KRNY Kearny Financial Corp. New 0.27% +0.27
FNMA Fannie Mae Add +0.3% 0.32% +0.16
GE General Electric Company New 0.15% +0.15
FLG Flagstar Bank NA Add +1.6% 0.45% +0.10
Palantir Technologies Add +5.6% 0.58% +0.09
HGTXU Hugoton Royalty Trust New 0.08% +0.08
SHW The Sherwin-Williams Co. Add +2.9% 1.24% +0.08
BANC Banc of California Inc. Add +33.7% 0.37% +0.07
NOBL Proshares S&P 500 Dividend A Add +55.5% 0.18% +0.07
Homestreet Inc Add +1.5% 1.19% +0.07
QQQ Invesco QQQ Trust Series 1 New 0.05% +0.05
HTZ Hertz Global Hldgs Inc. Add +3.1% 0.40% +0.04
SSUP Superior Industries Intl Add +11.2% 0.24% +0.04
XOM Exxon Mobil Corp. Add +0.0% 0.22% +0.02
USB US Bancorp New 0.02% +0.02
TALO Talos Energy Inc. Add +2.9% 0.53% +0.02
TIP iShares Tips Bond ETF Add +15.8% 0.10% +0.02
BANF Bancfirst Corp. New 0.02% +0.02
CGAU Centerra Gold Inc. New 0.02% +0.02
KTOS Kratos Defense & Security Add +100.0% 0.03% +0.01
ENFR Alerian Energy Infrastructur New 0.01% +0.01
OKE Oneok Inc. Add +0.3% 2.50% +0.01
RNGR Ranger Energy Services Class A New 0.01% +0.01
NOG Northern Oil and Gas Inc. New 0.01% +0.01
BRY Berry Corp. New 0.01% +0.01
ASC Ardmore Shipping Corp. New 0.01% +0.01
STNG Scorpio Tankers Inc. New 0.01% +0.01
TOL Toll Brothers Inc. Add +136.0% 0.02% +0.01
SLYV SS SPDR S&P 600 SC Val ETF Add +13.7% 0.29% +0.01
ZIM Zim Integrated Shipping Serv New 0.01% +0.01
TGLS Tecnoglass Holdings Inc. New 0.01% +0.01
HNRG Hallador Energy Co. Add +33.0% 0.03% +0.01
NEM Newmont Corp. New 0.01% +0.01
GM General Motors Co. New 0.01% +0.01
Cenovus Energy Inc New 0.01% +0.01
NSLR Neostellar Capital Corp. New 0.00% +0.00
F Ford Motor Co. Add +0.2% 0.03% +0.00
NMIH Nmi Holdings Inc. Add +0.1% 1.02% −0.00
YELP Yelp Inc. Add +2.1% 0.57% −0.01
KE Kimball Electronics Inc. Add +7.3% 0.48% −0.02
LGIH Lgi Homes Inc. Add +18.9% 0.30% −0.03
CLF Cleveland-Cliffs Inc. Add +1.3% 0.38% −0.04
CC The Chemours Co. Add +9.3% 0.42% −0.05

Notes & Other Activity Q4 2024 → Q1 2025
MGP INGREDIENTS INC (MGPI 1.875 11/15/41) NOTE 1.875%11/1 · principal New 2,905,000 $2.7M
JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) CONVERTIBLE BOND · principal Reduce -0.2% 2,710,000 $2.5M
ZILLOW GROUP INC (Z 2.75 05/15/25) NOTE 2.750% 5/1 · principal Sold out 1,635,000 $1.9Mbefore exit
FLAGSTAR BANK NA (FLG 6 11/01/51) UNIT 05/07/2051 Add +1.2% 50,192 $1.9M
WISDOMTREE INVESTMENTS (WT 3.25 06/15/26) NOTE 3.250% 6/1 · principal Reduce -0.6% 1,705,000 $1.8M
CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26) NOTE 0.375% 6/1 · principal Reduce -0.3% 1,745,000 $1.7M
SHAKE SHACK INC (SHAK 0 03/01/28) NOTE 3/0 · principal Reduce -0.3% 1,760,000 $1.6M
AMG CAPITAL TRUST II (AMG 5.15 10/15/37) CONV PRF Add +5.2% 30,570 $1.6M
FARO TECHNOLOGIES INC (FARO 5.5 02/01/28) NOTE 5.500% 2/0 · principal Reduce -0.7% 1,487,000 $1.5M
EVENTBRITE INC (EB 5 12/01/25) NOTE 5.000%12/0 · principal Reduce -0.3% 1,480,000 $1.5M
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L Reduce -0.9% 1,022 $1.3M
EZCORP INC (EZPW 2.375 05/01/25) NOTE 2.375% 5/0 · principal Reduce -4.2% 1,246,000 $1.2M
GREEN PLAINS INC (GPRE 2.25 03/15/27) NOTE 2.250% 3/1 · principal New 1,400,000 $1.2M
LCI INDUSTRIES (LCII 1.125 05/15/26) NOTE 1.125% 5/1 · principal Reduce -0.4% 1,215,000 $1.2M
AIR TRANSPORT SERVICES G (ATSG 3.875 08/15/29) NOTE 3.875% 8/1 · principal Add +1.5% 1,012,000 $1.0M
HTZWW Hertz Global Hldgs Inc. -CW51 *W EXP 06/30/205 Add +9.9% 110,775 $250K
EXEEL Chesapeake Energy Corp. -CW26 *W EXP 02/09/202 Add +0.3% 287 $29K
FORUM ENERGY TECHNOLOGIE (FET 9 08/04/25) NOTE 9.000% 8/0 · principal Sold out 19,250 $19Kbefore exit
Chesapeake Energy Corp. - Future Pmt CONV BOND · principal Sold out 2,553,000 $8Kbefore exit
MCDBF McDermott Inter TR B -CW27 WARRANT Sold out 72,441 $724before exit
MCDTF McDermott Inter TR A -CW27 WARRANT Sold out 65,197 $652before exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 219$303.7MDIA, CAT, GS, TRGP, WMB
Q1 2026 210$280.5MDIA, GS, CAT, AM, WMB
Q4 2025 223$263.5MDIA, GS, FMCC, CAT, AAPL
Q3 2025 221$254.7MDIA, GS, FMCC, MSFT, AM
Q2 2025 199$240.0MDIA, GS, MSFT, AM, WMB
Q1 2025 204$226.6MDIA, OKE, AM, WMB, KNTK
Q4 2024 202$230.0MDIA, TRGP, OKE, KNTK, AAPL
Q3 2024 204$225.6MDIA, QCRH, UNH, TRGP, OKE
Q2 2024 202$214.0MDIA, MSFT, TRGP, UNH, OKE
Q1 2024 214$242.1MDIA, MSFT, QCRH, OKE, UNH