Pinnacle Holdings, LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 12, 2026), Pinnacle Holdings, LLC reported 223 stock positions worth $263.5 million. Its top holding was SS SPDR Dow Jones Indus Avg (DIA) at 4.6% of the portfolio, followed by Goldman Sachs (GS, 3.0%) and Freddie Mac (FMCC, 2.1%). Compared with Q3 2025, it opened 25 new positions, sold out of 23, added to 54 and reduced 67. The biggest buy was a new position in Americold Realty Trust (COLD) and the biggest sale an exit from iShares MSCI Emr MRK Ex Chna (EMXC).

Most Recent 13F
Q2 2026
Location
TULSA, OK
CIK
0001411784
Portfolio Value
$263.5M (Q4 2025)
SEC Filing
0001411784-26-000002 ↗ filed Feb 12, 2026

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 Q1 2025 Q2 2025: $240.0M Q2 2025 Q3 2025: $254.7M Q3 2025 Q4 2025: $263.5M $263.5M Q4 2025 Q1 2026: $280.5M Q1 2026 Q2 2026: $303.7M Q2 2026

Holdings 223 stocks · $263.5M
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 4.62% 25,340 $12.2M Reduce -1.2%
GS Goldman Sachs Group Inc. 3.01% 9,011 $7.9M Reduce -1.0%
FMCC Freddie Mac filed as FEDERAL HOME LN MTG CORP 2.15% 558,502 $5.7M Reduce -1.4%
CAT Caterpillar Inc. 2.10% 9,657 $5.5M Add +4.4%
AAPL Apple Inc. 2.06% 19,984 $5.4M Add +0.7%
MSFT Microsoft Corp. 1.95% 10,629 $5.1M Reduce -0.9%
AM Antero Midstream Corp. 1.89% 280,072 $5.0M Reduce -0.3%
WMB Williams Cos Inc. 1.80% 79,043 $4.8M Reduce -0.7%
AMGN Amgen Inc. 1.64% 13,190 $4.3M Reduce -0.7%
MPLX MPLX LP 1.64% 80,850 $4.3M Reduce -0.7%
OKE Oneok Inc. 1.63% 58,410 $4.3M Reduce -0.1%
TRGP Targa Resources Corp. 1.58% 22,554 $4.2M Reduce -0.9%
GEL Genesis Energy L.P. 1.41% 237,847 $3.7M Reduce -0.7%
JPM JPMorgan Chase & Co. 1.40% 11,412 $3.7M Reduce -1.4%
SBFG SB Financial Group Inc. filed as SB FINL GROUP INC 1.33% 156,910 $3.5M Add +0.0%
HD Home Depot Inc. 1.32% 10,106 $3.5M Add +4.2%
NAVIOS MARITIME PARTNERS L P 1.30% 65,539 $3.4M Reduce -1.2%
KNTK Kinetik Holdings Inc. 1.29% 94,371 $3.4M Add +3.5%
C Citigroup Inc. 1.29% 29,032 $3.4M Add +0.3%
MCHB Mechanics Bancorp Class A 1.28% 230,329 $3.4M Reduce -0.0%
AXP American Express Co. 1.23% 8,752 $3.2M Reduce -1.1%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 1.20% 10,653 $3.2M Add +5.0%
PAGP Plains GP Holdings LP 1.19% 164,095 $3.1M Add +2.5%
HESM Hess Midstream LP Class A 1.17% 89,625 $3.1M Add +0.6%
V Visa Inc. Class A 1.17% 8,765 $3.1M Reduce -1.2%
UNH Unitedhealth Group Inc. 1.16% 9,294 $3.1M Add +0.7%
ET Energy Transfer LP 1.16% 185,133 $3.1M Add +0.5%
ARLP Alliance Resource Partners 1.14% 129,423 $3.0M Add +0.5%
MCD McDonald's Corp. 1.12% 9,671 $3.0M Reduce -1.0%
MOFG Midwestone Financial Group I 1.11% 76,223 $2.9M Reduce -0.7%
Palantir Technologies 1.09% 16,213 $2.9M Reduce -1.8%
TRV The Travelers Cos Inc. 1.09% 9,888 $2.9M Add +9.5%
BHF Brighthouse Financial Inc. 1.08% 44,054 $2.9M Reduce -6.0%
EPD Enterprise Products Partners 1.08% 88,894 $2.8M Reduce -0.9%
NVDA Nvidia Corp. 1.06% 15,031 $2.8M Reduce -0.2%
SHW The Sherwin-Williams Co. 1.05% 8,553 $2.8M Reduce -1.8%
UNTC Unit Corp. 1.04% 89,040 $2.7M No change
BHRB Burke & Herbert Financial SE 1.02% 43,289 $2.7M No change
WES Western Gas Equity Partners 1.00% 66,896 $2.6M Reduce -0.8%
NMIH Nmi Holdings Inc. filed as NMI HLDGS INC 0.99% 64,116 $2.6M Reduce -0.1%
AMZN Amazon.com Inc. 0.97% 11,071 $2.6M Add +4.5%
JNJ Johnson & Johnson 0.89% 11,310 $2.3M Add +0.9%
CRM Salesforce Inc. 0.85% 8,452 $2.2M Reduce -1.3%
FUNC First United Corp. 0.84% 58,976 $2.2M No change
Hovnanian 0.82% 105,000 $2.2M No change
ETC SUNOCO HOLDINGS LLC filed as SUNOCO INC 0.82% 41,051 $2.2M Reduce -1.0%
CVX Chevron Corp. 0.81% 13,973 $2.1M Add +6.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.80% 38,548 $2.1M Add +0.3%
BA The Boeing Co. 0.80% 9,688 $2.1M Add +0.8%
RJET Republic Airways Holdings Inc. 0.77% 110,673 $2.0M Add +2.0%
JXN Jackson Financial Inc. Class A 0.74% 18,285 $2.0M Add +0.3%
HON Honeywell International Inc. 0.71% 9,617 $1.9M Add +1.1%
KE Kimball Electronics Inc. 0.71% 67,305 $1.9M Reduce -0.1%
HWBK Hawthorn Bancshares Inc. 0.63% 47,764 $1.7M No change
COLD Americold Realty Trust Inc. 0.62% 126,601 $1.6M New
CZWI Citizens Community Bancorp I 0.62% 91,347 $1.6M No change
MMM 3M Co. 0.60% 9,920 $1.6M Add +10.9%
RNST Renasant Corp. 0.57% 42,976 $1.5M No change
PG The Procter & Gamble Co. 0.57% 10,498 $1.5M Reduce -1.0%
DKL Delek Logistics Partners LP 0.56% 33,044 $1.5M Reduce -0.9%
ASO Academy Sports & Outdoors Inc. 0.56% 29,342 $1.5M Reduce -0.1%
CLF Cleveland-Cliffs Inc. 0.55% 109,547 $1.5M Reduce -0.1%
HELE Helen of Troy Ltd. 0.55% 67,986 $1.4M New
TALO Talos Energy Inc. 0.53% 125,639 $1.4M Reduce -0.1%
KMI Kinder Morgan Inc. 0.52% 50,159 $1.4M Reduce -0.0%
FCCO First Community Corp. 0.52% 46,302 $1.4M Reduce -0.9%
FLG Flagstar Bank NA 0.52% 108,245 $1.4M No change
WMT Walmart Inc. 0.51% 12,017 $1.3M Reduce -0.9%
CCNE CNB Financial Corp. 0.50% 50,124 $1.3M Reduce 0.0%
CIVB Civista Bancshares Inc. 0.50% 59,030 $1.3M No change
LZB La-Z-Boy Inc. 0.49% 34,660 $1.3M Add +0.5%
WHR Whirlpool Corp. 0.49% 17,816 $1.3M New
CUBI Customers Bancorp Inc. 0.48% 17,405 $1.3M No change
PUBM Pubmatic Inc. Class A 0.48% 142,904 $1.3M Add +2.9%
ONB Old National Bancorp 0.48% 56,751 $1.3M No change
PEBK Peoples Bancorp of NC 0.48% 34,889 $1.3M No change
PKBK Parke Bancorp Inc. 0.47% 49,941 $1.3M No change
HTZ Hertz Global Hldgs Inc. 0.47% 240,175 $1.2M Add +4.2%
FNMA Fannie Mae filed as FEDERAL NATL MTG ASSN 0.46% 113,388 $1.2M No change
NTGR Netgear Inc. 0.44% 47,766 $1.2M Reduce -0.3%
JBLU Jetblue Airways Corp. 0.44% 252,321 $1.1M Add +4.2%
MRK Merck & Co. Inc. 0.43% 10,783 $1.1M Add +2.8%
PEBO Peoples Bancorp Inc. 0.42% 36,977 $1.1M No change
ORRF Orrstown Finl Services Inc. 0.42% 31,230 $1.1M No change
ALRS Alerus Financial Corp. 0.42% 48,999 $1.1M No change
YELP Yelp Inc. 0.42% 36,229 $1.1M Add +1.1%
BANC Banc of California Inc. 0.42% 56,942 $1.1M No change
ARCB Arcbest Corp. 0.40% 14,145 $1.0M Add +0.3%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.39% 9,113 $1.0M Add +2.3%
EB Eventbrite Inc. Class A 0.38% 223,264 $994K Reduce -17.5%
UBOH United Bancshares Inc. 0.38% 22,302 $992K No change
PFBX Peoples Financial Corp. 0.37% 48,476 $987K No change
XPRO Expro Group Holdings NV 0.37% 72,435 $967K Reduce -0.8%
DB Deutsche Bank AG-Registered 0.36% 24,900 $960K No change
FRST Primis Financial Corp. 0.36% 68,216 $949K No change
CC The Chemours Co. 0.36% 80,093 $944K Add +7.0%
OCFC Oceanfirst Financial Corp. 0.35% 51,240 $920K No change
CSCO Cisco Systems Inc. 0.34% 11,787 $908K Add +2.5%
TBCH Turtle Beach Corp. 0.34% 64,495 $905K Reduce -0.8%
FNWB First Northwest Bancorp 0.30% 84,928 $797K Add +18.0%
CBRL Cracker Barrel Old Country 0.30% 31,263 $794K Add +11.5%
FUSB First US Bancshares Inc. 0.30% 55,806 $780K No change
HOPE Hope Bancorp Inc. 0.29% 70,780 $776K No change
ZION Zions Bancorp NA 0.29% 13,244 $775K No change
EGY Vaalco Energy Inc. 0.29% 206,817 $753K Add +1.0%
KRNY Kearny Financial Corp. 0.28% 101,080 $749K No change
WLKP Westlake Chemical Partners L 0.28% 38,942 $740K Reduce -0.6%
XOM Exxon Mobil Corp. 0.27% 5,844 $703K Add +38.4%
PAMT Pamt Corp. 0.26% 57,585 $696K Reduce -0.6%
KO The Coca-Cola Co. 0.26% 9,743 $681K Add +0.0%
CFG Citizens Financial Group 0.26% 11,657 $681K No change
TFC Truist Financial Corp. 0.25% 13,520 $665K No change
NOBL Proshares S&P 500 Dividend A 0.25% 6,361 $662K No change
NKE Nike Inc. Class B 0.21% 8,721 $556K Reduce -1.4%
FITB Fifth Third Bancorp 0.21% 11,625 $544K No change
EBMT Eagle Bancorp Montana Inc. 0.20% 25,814 $514K No change
VZ Verizon Communications Inc. 0.19% 12,175 $496K Add +8.0%
THFF First Financial Corp. 0.19% 8,190 $495K No change
CWBC Community West Bancshares 0.19% 21,906 $493K No change
UIS Unisys Corp. 0.18% 175,094 $483K Add +7.3%
LGIH Lgi Homes Inc. 0.18% 11,174 $480K Add +3.7%
GE General Electric Company filed as GE Aerospace 0.18% 1,501 $463K Reduce -0.3%
ORCL Oracle Corp. 0.17% 2,287 $446K Reduce -3.4%
HWC Hancock Whitney Corp. 0.15% 6,232 $397K No change
CRGY Crescent Energy Inc. Class A 0.14% 44,919 $377K New
XIFR XPLR Infrastructure LP 0.14% 37,528 $375K Reduce -0.9%
CVBF CVB Financial Corp. 0.14% 19,803 $368K No change
WFC Wells Fargo & Co. 0.13% 3,772 $352K Add +46.7%
META Meta Platforms Inc. Class A 0.12% 476 $314K Add +11.2%
SFBC Sound Financial Bancorp Inc. 0.12% 7,180 $313K No change
PFS Provident Financial Services 0.09% 11,563 $228K No change
MA Mastercard Inc. Class A 0.09% 400 $228K No change
TLN Talen Energy Corp. 0.09% 609 $228K Add +143.6%
TIP iShares Tips Bond ETF 0.08% 2,029 $223K Reduce -0.3%
INTC Intel Corp. 0.08% 5,865 $216K Add +11.1%
GEV GE Vernova Inc. 0.08% 329 $215K Reduce -0.3%
MCDIF McDermott International Ltd. 0.08% 9,850 $205K New
QCRH QCR Holdings Inc. 0.07% 2,222 $185K No change
ICVT iShares Convertible Bond ETF 0.06% 1,663 $164K New
TSM Taiwan Semiconductor-SP ADR 0.06% 524 $159K No change
KTOS Kratos Defense & Security 0.06% 2,000 $152K No change
M Macy's Inc. 0.05% 6,199 $137K No change
AMR Alpha Metallurgical Resource 0.05% 680 $136K Reduce -1.4%
CTRA Coterra Energy Inc. 0.05% 4,786 $126K No change
PFE Pfizer Inc. 0.05% 4,929 $123K New
FNB FNB Corp. 0.05% 7,068 $121K No change
DVN Devon Energy Corp. 0.04% 3,021 $111K Reduce -2.3%
HGTXU Hugoton Royalty Trust 0.04% 370,194 $109K Add +0.3%
GM General Motors Co. 0.04% 1,325 $108K Add +33.2%
PAA Plains All Amer Pipeline LP 0.04% 5,560 $100K No change
UPS United Parcel Service Class B 0.04% 945 $94K Add +112.4%
GSL Global Ship Lease Inc. Class A 0.03% 2,512 $88K Reduce -1.8%
F Ford Motor Co. filed as FORD MTR CO 0.03% 6,383 $84K Reduce -5.5%
DOW Dow Inc. 0.03% 3,580 $84K Add +71.8%
OKTA Okta Inc. 0.03% 913 $79K New
TPH Tri Pointe Homes Inc. 0.03% 2,467 $78K Add +31.4%
AZN Astrazeneca PLC-Spons ADR 0.03% 800 $74K No change
GRBK Green Brick Partners Inc. 0.03% 1,099 $69K New
NFE New Fortress Energy Inc. 0.03% 58,750 $67K Reduce -47.3%
SD Sandridge Energy Inc. 0.03% 4,640 $67K No change
USB US Bancorp 0.02% 1,210 $65K New
BKNG Booking Holdings Inc. 0.02% 11 $59K Reduce -15.4%
DAC Danaos Corp. 0.02% 607 $57K Reduce -2.3%
GNK Genco Shipping & Trading Ltd. 0.02% 3,100 $57K No change
SF Stifel Financial Corp. 0.02% 454 $57K Add +59.9%
TEEKAY CORPORATION 0.02% 6,259 $57K Reduce -35.0%
Star Bulk Carriers 0.02% 2,818 $54K Add +62.1%
Barrick Mining Corporation 0.02% 1,239 $54K New
NFLX Netflix Inc. 0.02% 546 $51K New
MOMO Hello Group Inc. -SPN ADR 0.02% 7,714 $51K Reduce -1.7%
FINV Finvolution Group-ADR 0.02% 9,639 $50K Reduce -1.4%
UBER Uber Technologies Inc. 0.02% 580 $47K No change
MIND Mind Technology Inc. 0.02% 5,280 $46K Add +52.6%
TMHC Taylor Morrison Home Corp. 0.02% 783 $46K Add +62.1%
SPHR Sphere Entertainment Co. 0.02% 477 $45K Reduce -46.3%
WING Wingstop Inc. 0.02% 187 $45K No change
GEHC GE Healthcare Technology 0.02% 521 $43K Reduce -0.2%
GASS Stealthgas Inc. 0.02% 5,901 $41K Reduce -42.7%
NEM Newmont Corp. 0.02% 400 $40K No change
CALF PCR US SM CP CSH CWS ETF-Usd 0.02% 898 $40K No change
SFM Sprouts Farmers Market Inc. 0.02% 500 $40K No change
BWLP BW LPG Limited 0.02% 3,028 $40K No change
AGRO Adecoagro SA 0.01% 4,880 $39K Reduce -2.3%
UNIT Uniti Group LLC Com SHS 0.01% 5,499 $39K Reduce -5.2%
BANF Bancfirst Corp. 0.01% 360 $38K No change
EQT Eqt Corp. 0.01% 700 $38K No change
EXE Expand Energy Corp. 0.01% 339 $37K Add +29.9%
DIREXION SHS ETF TR 0.01% 657 $36K No change
STNG Scorpio Tankers Inc. 0.01% 694 $35K No change
MBGYY Mercedes-Benz Group-Unsp ADR 0.01% 2,000 $35K No change
Zim Integrated Shipping 0.01% 1,608 $34K No change
Shenandoah Telecommunications 0.01% 2,853 $33K Reduce -2.1%
AGX Argan Inc. 0.01% 105 $33K Reduce -65.8%
JOYY Joyy Inc.-ADR 0.01% 478 $31K New
BOKF Bok Financial Corporation 0.01% 260 $31K New
FPI Farmland Partners Inc. 0.01% 3,173 $31K New
CALM Cal-Maine Foods Inc. 0.01% 382 $30K New
CMRE Costamare Inc. 0.01% 1,924 $30K New
HOG Harley-Davidson Inc. 0.01% 1,468 $30K New
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 0.01% 782 $30K Reduce -11.3%
TOL Toll Brothers Inc. 0.01% 200 $27K New
CRC California Resources Corp. 0.01% 603 $27K New
AAL American Airlines Group Inc. 0.01% 1,635 $25K No change
FTNT Fortinet Inc. 0.01% 299 $24K No change
DHI D.R. Horton Inc. 0.01% 150 $22K New
EOG EOG Resources Inc. 0.01% 200 $21K No change
PINS Pinterest Inc. Class A 0.01% 798 $21K No change
NOG Northern Oil and Gas Inc. 0.01% 929 $20K No change
EZPW Ezcorp Inc. Class A 0.01% 1,000 $19K No change
DKS Dick's Sporting Goods Inc. 0.01% 94 $19K No change
IRDM Iridium Communications Inc. 0.01% 1,051 $18K No change
MNDY Monday.com Ltd. 0.01% 122 $18K No change
COLB Columbia Banking System Inc. 0.01% 592 $17K No change
TGLS Tecnoglass Holdings Inc. 0.01% 315 $16K No change
CVGI Commercial Vehicle Group Inc. 0.01% 10,297 $15K No change
BBT Beacon Financial Corp. 0.01% 540 $14K New
SSRM SSR Mining Inc. 0.01% 630 $14K No change
MTH Meritage Homes Corp. 0.01% 200 $13K No change
NSLR Neostellar Capital Corp. filed as SURO CAPITAL CORP 0.00% 1,329 $13K No change
PSMT Pricesmart Inc. 0.00% 100 $12K New
CMDB Costamare Bulkers Holding 0.00% 631 $10K New
SCHP Schwab U.S. Tips ETF 0.00% 308 $8K No change
UCB United Community Banks 0.00% 220 $7K New
Other holdings (26): bonds, preferreds, convertibles and warrants · $32.5M (not counted above)
SecurityClassShares / PrincipalValueChange
SSR MINING INC (SSRMCN 2.5 04/01/39) NOTE 2.500% 4/0 · principal 2,505,000$3.3MReduce -1.0%
MGP INGREDIENTS INC (MGPI 1.875 11/15/41) NOTE 1.875%11/1 · principal 2,905,000$2.8MNo change
FREDDIE MAC (FMCC 6.55 PERP Y) PREF STK 179,580$2.3MNo change
AMG CAPITAL TRUST II (AMG 5.15 10/15/37) CONV PRF 27,660$2.0MReduce -7.4%
FLAGSTAR BANK NA (FLG 6 11/01/51) UNIT 05/07/2051 49,842$2.0MReduce -1.7%
WISDOMTREE INVESTMENTS (WT 3.25 06/15/26) NOTE 3.250% 6/1 · principal 1,695,000$2.0MReduce -0.6%
CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26) NOTE 0.375% 6/1 · principal 1,745,000$1.7MNo change
SPECTRUM BRANDS INC (SPB 3.375 06/01/29) NOTE 3.375% 6/0 · principal 1,795,000$1.7MAdd +2.3%
JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) CONVERTIBLE BOND · principal 1,705,000$1.7MNo change
SHAKE SHACK INC (SHAK 0 03/01/28) NOTE 3/0 · principal 1,755,000$1.7MReduce -0.3%
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 11,015$1.4MAdd +984.1%
BANC OF CALIFORNIA INC (BANC V7.75 PERP F) NON 13F SECURITY 54,734$1.4MAdd +0.5%
GREEN PLAINS INC (GPRE 2.25 03/15/27) NOTE 2.250% 3/1 · principal 1,400,000$1.3MNo change
INNOVIVA INC (INVA 2.125 03/15/28) NOTE 2.125% 3/1 · principal 1,227,000$1.2MNo change
LCI INDUSTRIES (LCII 1.125 05/15/26) NOTE 1.125% 5/1 · principal 1,205,000$1.2MNo change
WINNEBAGO INDUSTRIES (WGO 3.25 01/15/30) NOTE 3.250% 1/1 · principal 1,160,000$1.1MNew
JETBLUE AIRWAYS CORP (JBLU 2.5 09/01/29) NOTE 2.500% 9/0 · principal 1,000,000$968KNew
BLACKLINE INC (BL 0 03/15/26) NOTE 3/1 · principal 500,000$494KNo change
OKTA INC (OKTA 0.375 06/15/26) NOTE 0.375% 6/1 · principal 500,000$488KNo change
COUPA SOFTWARE INC (COUP 0.375 06/15/26) NOTE 0.375% 6/1 · principal 500,000$485KNo change
BILL HOLDINGS INC (BILL 0 04/01/27) NOTE 4/0 · principal 500,000$473KNo change
UNTCW Unit Corp.-CW27 WARRANT 142,938$334KAdd +0.1%
HTZWW Hertz Global Hldgs Inc. -CW51 *W EXP 06/30/205 111,275$298KAdd +0.5%
FANNIE MAE (FNMA V8.25 PERP S) Preferred Stock 6,000$91KNo change
JACKSON FINANCIAL INC (JXN V8 PERP) PFD 2,200$57KNo change
EXEEL Chesapeake Energy Corp. -CW26 *W EXP 02/09/202 172$17KNew

Total filed on the 13F, all lines: $296.0M.

Portfolio Sells Q3 2025 → Q4 2025
EMXC iShares MSCI Emr MRK Ex Chna Sold out 0.00% −0.58
FMCC Freddie Mac Reduce -1.4% 2.15% −0.47
SLYV SS SPDR S&P 600 SC Val ETF Sold out 0.00% −0.28
AM Antero Midstream Corp. Reduce -0.3% 1.89% −0.25
MSFT Microsoft Corp. Reduce -0.9% 1.95% −0.23
WMB Williams Cos Inc. Reduce -0.7% 1.80% −0.18
NTGR Netgear Inc. Reduce -0.3% 0.44% −0.16
GEL Genesis Energy L.P. Reduce -0.7% 1.41% −0.16
VTLE Vital Energy Inc. Sold out 0.00% −0.16
SHW The Sherwin-Williams Co. Reduce -1.8% 1.05% −0.13
QQQ Invesco QQQ Trust Series 1 Sold out 0.00% −0.10
ORCL Oracle Corp. Reduce -3.4% 0.17% −0.09
Palantir Technologies Reduce -1.8% 1.09% −0.09
KE Kimball Electronics Inc. Reduce -0.1% 0.71% −0.08
NFE New Fortress Energy Inc. Reduce -47.3% 0.03% −0.07
PG The Procter & Gamble Co. Reduce -1.0% 0.57% −0.07
TBCH Turtle Beach Corp. Reduce -0.8% 0.34% −0.06
OKE Oneok Inc. Reduce -0.1% 1.63% −0.05
DIA SS SPDR Dow Jones Indus Avg Reduce -1.2% 4.62% −0.05
MCD McDonald's Corp. Reduce -1.0% 1.12% −0.04
McDermott International Sold out 0.00% −0.04
WLKP Westlake Chemical Partners L Reduce -0.6% 0.28% −0.04
HNRG Hallador Energy Co. Sold out 0.00% −0.04
NVDA Nvidia Corp. Reduce -0.2% 1.06% −0.04
JPM JPMorgan Chase & Co. Reduce -1.4% 1.40% −0.04
WES Western Gas Equity Partners Reduce -0.8% 1.00% −0.04
DKL Delek Logistics Partners LP Reduce -0.9% 0.56% −0.04
KMI Kinder Morgan Inc. Reduce -0.0% 0.52% −0.03
T AT&T Inc. Sold out 0.00% −0.03
NKE Nike Inc. Class B Reduce -1.4% 0.21% −0.03
TNK Teekay Tankers Ltd. Class A Sold out 0.00% −0.03
BVN Cia DE Minas Buenaventur-ADR Sold out 0.00% −0.03
RSG Republic Services Inc. Sold out 0.00% −0.03
CGAU Centerra Gold Inc. Sold out 0.00% −0.03
V Visa Inc. Class A Reduce -1.2% 1.17% −0.02
SPGI S&P Global Inc. Sold out 0.00% −0.02
XLV SS Health Care Select Sector Sold out 0.00% −0.02
ASO Academy Sports & Outdoors Inc. Reduce -0.1% 0.56% −0.02
AGX Argan Inc. Reduce -65.8% 0.01% −0.02
EPD Enterprise Products Partners Reduce -0.9% 1.08% −0.02
TDG Transdigm Group Inc. Sold out 0.00% −0.02
XLE SS Energy Select Sector Sold out 0.00% −0.02
BRY Berry Corp. Sold out 0.00% −0.01
ASC Ardmore Shipping Corp. Sold out 0.00% −0.01
BG Bunge Ltd. Sold out 0.00% −0.01
RNGR Ranger Energy Services Class A Sold out 0.00% −0.01
TS Tenaris SA-ADR Sold out 0.00% −0.01
GASS Stealthgas Inc. Reduce -42.7% 0.02% −0.01
INSW International Seaways Inc. Sold out 0.00% −0.01
TEEKAY CORPORATION Reduce -35.0% 0.02% −0.01

Portfolio Buys Q3 2025 → Q4 2025
COLD Americold Realty Trust Inc. New 0.62% +0.62
HELE Helen of Troy Ltd. New 0.55% +0.55
WHR Whirlpool Corp. New 0.49% +0.49
CAT Caterpillar Inc. Add +4.4% 2.10% +0.37
CRGY Crescent Energy Inc. Class A New 0.14% +0.14
SBFG SB Financial Group Inc. Add +0.0% 1.33% +0.14
C Citigroup Inc. Add +0.3% 1.29% +0.13
TRV The Travelers Cos Inc. Add +9.5% 1.09% +0.10
MRK Merck & Co. Inc. Add +2.8% 0.43% +0.09
XOM Exxon Mobil Corp. Add +38.4% 0.27% +0.08
FNWB First Northwest Bancorp Add +18.0% 0.30% +0.08
AAPL Apple Inc. Add +0.7% 2.06% +0.08
MCDIF McDermott International Ltd. New 0.08% +0.08
IBM Intl Business Machines Corp. Add +5.0% 1.20% +0.07
JNJ Johnson & Johnson Add +0.9% 0.89% +0.07
ICVT iShares Convertible Bond ETF New 0.06% +0.06
MMM 3M Co. Add +10.9% 0.60% +0.06
AMZN Amazon.com Inc. Add +4.5% 0.97% +0.06
WFC Wells Fargo & Co. Add +46.7% 0.13% +0.05
PFE Pfizer Inc. New 0.05% +0.05
PAGP Plains GP Holdings LP Add +2.5% 1.19% +0.05
TLN Talen Energy Corp. Add +143.6% 0.09% +0.04
CSCO Cisco Systems Inc. Add +2.5% 0.34% +0.04
OKTA Okta Inc. New 0.03% +0.03
PUBM Pubmatic Inc. Class A Add +2.9% 0.48% +0.03
GRBK Green Brick Partners Inc. New 0.03% +0.03
BAC Bank of America Corp. Add +0.3% 0.80% +0.03
LZB La-Z-Boy Inc. Add +0.5% 0.49% +0.03
USB US Bancorp New 0.02% +0.02
UPS United Parcel Service Class B Add +112.4% 0.04% +0.02
Barrick Mining Corporation New 0.02% +0.02
NFLX Netflix Inc. New 0.02% +0.02
GM General Motors Co. Add +33.2% 0.04% +0.02
JXN Jackson Financial Inc. Class A Add +0.3% 0.74% +0.02
DOW Dow Inc. Add +71.8% 0.03% +0.01
INTC Intel Corp. Add +11.1% 0.08% +0.01
BOKF Bok Financial Corporation New 0.01% +0.01
FPI Farmland Partners Inc. New 0.01% +0.01
JOYY Joyy Inc.-ADR New 0.01% +0.01
CALM Cal-Maine Foods Inc. New 0.01% +0.01
CMRE Costamare Inc. New 0.01% +0.01
HOG Harley-Davidson Inc. New 0.01% +0.01
ARCB Arcbest Corp. Add +0.3% 0.40% +0.01
TOL Toll Brothers Inc. New 0.01% +0.01
CRC California Resources Corp. New 0.01% +0.01
SF Stifel Financial Corp. Add +59.9% 0.02% +0.01
DHI D.R. Horton Inc. New 0.01% +0.01
CVX Chevron Corp. Add +6.5% 0.81% +0.01
Star Bulk Carriers Add +62.1% 0.02% +0.01
MIND Mind Technology Inc. Add +52.6% 0.02% +0.01

Notes & Other Activity Q3 2025 → Q4 2025
SSR MINING INC (SSRMCN 2.5 04/01/39) NOTE 2.500% 4/0 · principal Reduce -1.0% 2,505,000 $3.3M
AMG CAPITAL TRUST II (AMG 5.15 10/15/37) CONV PRF Reduce -7.4% 27,660 $2.0M
FLAGSTAR BANK NA (FLG 6 11/01/51) UNIT 05/07/2051 Reduce -1.7% 49,842 $2.0M
WISDOMTREE INVESTMENTS (WT 3.25 06/15/26) NOTE 3.250% 6/1 · principal Reduce -0.6% 1,695,000 $2.0M
SPECTRUM BRANDS INC (SPB 3.375 06/01/29) NOTE 3.375% 6/0 · principal Add +2.3% 1,795,000 $1.7M
SHAKE SHACK INC (SHAK 0 03/01/28) NOTE 3/0 · principal Reduce -0.3% 1,755,000 $1.7M
EVENTBRITE INC (EB 5 12/01/25) NOTE 5.000%12/0 · principal Sold out 1,500,000 $1.5Mbefore exit
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L Add +984.1% 11,015 $1.4M
BANC OF CALIFORNIA INC (BANC V7.75 PERP F) NON 13F SECURITY Add +0.5% 54,734 $1.4M
WINNEBAGO INDUSTRIES (WGO 3.25 01/15/30) NOTE 3.250% 1/1 · principal New 1,160,000 $1.1M
JETBLUE AIRWAYS CORP (JBLU 2.5 09/01/29) NOTE 2.500% 9/0 · principal New 1,000,000 $968K
UNTCW Unit Corp.-CW27 WARRANT Add +0.1% 142,938 $334K
HTZWW Hertz Global Hldgs Inc. -CW51 *W EXP 06/30/205 Add +0.5% 111,275 $298K
EXEEL Chesapeake Energy Corp. -CW26 *W EXP 02/09/202 New 172 $17K
PACWEST BANCORP (PACW V7.75 PERP A) PREF STK Sold out 250 $6Kbefore 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