Pinnacle 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
Aceto Corporation	COM	004446100	52,690	658,630	SH		SOLE	0	658,630	0	0
American Express Company	COM	025816109	1,912,378	20,088	SH		SOLE	0	20,088	0	0
Apollo Global Management	COM	037612306	366,662	7,345	SH		SOLE	0	7,345	0	0
Apple	COM	037833100	8,105,768	22,220	SH		SOLE	0	22,220	0	0
Astrazeneca PLC	COM	046353108	47,601	900	SH		SOLE	0	900	0	0
Bank of America	COM	060505104	945,321	39,803	SH		SOLE	0	39,803	0	0
Bank of America	CONV PREF	060505682	38,924	29	SH		SOLE	0	29	0	0
Bed Bath & Beyond	COM	075896100	10,600	1,000	SH		SOLE	0	1,000	0	0
Berkshire Hills Bancorp	COM	084680107	22,889	2,077	SH		SOLE	0	2,077	0	0
Boeing	COM	097023105	3,890,176	21,223	SH		SOLE	0	21,223	0	0
Brookfield Asset Management	COM	112585104	127,948	3,889	SH		SOLE	0	3,889	0	0
Caterpillar	COM	149123101	2,610,834	20,639	SH		SOLE	0	20,639	0	0
Central Valley Community Bancorp	COM	155685100	377,471	24,527	SH		SOLE	0	24,527	0	0
Chevron Corporation	COM	166764100	2,146,249	24,053	SH		SOLE	0	24,053	0	0
Citigroup	COM	172967424	1,058,639	20,717	SH		SOLE	0	20,717	0	0
Citizens Financial Group	COM	174610105	363,150	14,388	SH		SOLE	0	14,388	0	0
Citizens Community Bancorp	COM	174903104	743,082	108,321	SH		SOLE	0	108,321	0	0
Civista Bancshares	COM	178867107	934,241	60,665	SH		SOLE	0	60,665	0	0
Cleveland-Cliffs	COM	185899101	594,228	107,650	SH		SOLE	0	107,650	0	0
Coca-Cola	COM	191216100	952,801	21,325	SH		SOLE	0	21,325	0	0
Codorus Bancorp	COM	192025104	555,582	40,172	SH		SOLE	0	40,172	0	0
Cowen Inc	CONV PREF	223622507	2,585,451	3,210	SH		SOLE	0	3,210	0	0
Walt Disney	COM	254687106	2,334,979	20,940	SH		SOLE	0	20,940	0	0
Dow Inc	COM	260557103	905,282	22,210	SH		SOLE	0	22,210	0	0
Enable Midstream Partners	COM	292480100	18,720	4,000	SH		SOLE	0	4,000	0	0
Enterprise Products Partners	COM	293792107	2,090,095	115,030	SH		SOLE	0	115,030	0	0
Equitrans Midstream	COM	294600101	1,430,844	172,183	SH		SOLE	0	172,183	0	0
EZCORP	COM	302301106	19,310	3,065	SH		SOLE	0	3,065	0	0
F.N.B. Corporation	COM	302520101	87,195	11,626	SH		SOLE	0	11,626	0	0
Federal Agricultural Mortgage	COM	313148306	16,003	250	SH		SOLE	0	250	0	0
Freddie Mac	PREF STK	313400640	984,898	148,105	SH		SOLE	0	148,105	0	0
Fannie Mae	PREF STK	313586752	39,750	5,000	SH		SOLE	0	5,000	0	0
Fifth Third Bancorp	COM	316773100	208,513	10,815	SH		SOLE	0	10,815	0	0
First Bancshares	COM	318916103	1,089,810	48,436	SH		SOLE	0	48,436	0	0
First Community Corp	COM	319835104	811,510	53,565	SH		SOLE	0	53,565	0	0
The First Financial Corp	COM	320218100	303,164	8,229	SH		SOLE	0	8,229	0	0
Ford Motor	COM	345370860	15,302	2,517	SH		SOLE	0	2,517	0	0
General Electric Company	COM	369604103	97,097	14,216	SH		SOLE	0	14,216	0	0
Genesis Energy	COM	371927104	1,811,000	250,831	SH		SOLE	0	250,831	0	0
Groupon	COM	399473206	328,479	18,128	SH		SOLE	0	18,128	0	0
Hancock Whitney Corporation	COM	410120109	146,556	6,913	SH		SOLE	0	6,913	0	0
Hawaiian Holdings	COM	419879101	17,283	1,231	SH		SOLE	0	1,231	0	0
Hawthorn Bancshares	COM	420476103	502,174	25,504	SH		SOLE	0	25,504	0	0
Hess Midstream Partners	COM	428104103	1,269,356	69,288	SH		SOLE	0	69,288	0	0
Holly Energy Partners	COM	435763107	7,791	534	SH		SOLE	0	534	0	0
Home Depot	COM	437076102	5,219,877	20,837	SH		SOLE	0	20,837	0	0
Intel Corporation	COM	458140100	1,375,372	22,988	SH		SOLE	0	22,988	0	0
International Business Machines	COM	459200101	2,551,025	21,123	SH		SOLE	0	21,123	0	0
iShares Barclays TIPS Bond	COM	464287176	209,274	1,701	SH		SOLE	0	1,701	0	0
iShares MSCI Emerging Markets Index	COM	464287234	184,554	4,615	SH		SOLE	0	4,615	0	0
iShares MSCI EAFE Index Fund	COM	464287465	5,583,544	91,729	SH		SOLE	0	91,729	0	0
iShares DJ US Financial Sector	COM	464287788	135,032	1,226	SH		SOLE	0	1,226	0	0
Johnson & Johnson	COM	478160104	3,172,050	22,556	SH		SOLE	0	22,556	0	0
La-Z-Boy	COM	505336107	873,903	32,295	SH		SOLE	0	32,295	0	0
Lannett Company	COM	516012101	498,196	68,622	SH		SOLE	0	68,622	0	0
MDC Holdings	COM	552676108	1,211,230	33,928	SH		SOLE	0	33,928	0	0
MVB Financial Corp	COM	553810102	654,573	49,216	SH		SOLE	0	49,216	0	0
Magellan Midstream Partners	COM	559080106	2,769,183	64,146	SH		SOLE	0	64,146	0	0
McDonald's	COM	580135101	3,889,734	21,086	SH		SOLE	0	21,086	0	0
Mesa Air Group Inc	COM	590479135	430,929	125,270	SH		SOLE	0	125,270	0	0
Microsoft Corporation	COM	594918104	4,416,456	21,701	SH		SOLE	0	21,701	0	0
MidWest One Financial Group	COM	598511103	280,780	14,039	SH		SOLE	0	14,039	0	0
NMI Holdings Inc	COM	629209305	1,189,325	73,963	SH		SOLE	0	73,963	0	0
Nike	COM	654106103	1,965,608	20,047	SH		SOLE	0	20,047	0	0
OceanFirst Financial	COM	675234108	608,482	34,514	SH		SOLE	0	34,514	0	0
Old National Bancorp	COM	680033107	906,154	65,854	SH		SOLE	0	65,854	0	0
ONEOK	COM	682680103	2,576,916	77,571	SH		SOLE	0	77,571	0	0
Pacwest Bancorp	COM	695263103	351,193	17,818	SH		SOLE	0	17,818	0	0
Parke Bancorp	COM	700885106	694,394	51,247	SH		SOLE	0	51,247	0	0
Peoples Bancorp	COM	710577107	680,171	38,493	SH		SOLE	0	38,493	0	0
Pfizer	COM	717081103	888,426	27,169	SH		SOLE	0	27,169	0	0
Phillips 66 Partners	COM	718549207	1,568,061	43,509	SH		SOLE	0	43,509	0	0
Plains All American Pipeline	COM	726503105	69,173	7,825	SH		SOLE	0	7,825	0	0
Pricesmart	COM	741511109	6,033	100	SH		SOLE	0	100	0	0
Procter & Gamble	COM	742718109	2,602,321	21,764	SH		SOLE	0	21,764	0	0
Shell Midstream Partners	COM	822634101	1,136,055	92,588	SH		SOLE	0	92,588	0	0
Southern National Bancorp of Virginia	COM	843395104	703,250	72,575	SH		SOLE	0	72,575	0	0
Southwestern Energy Company	COM	845467109	2,560	1,000	SH		SOLE	0	1,000	0	0
SunPower Corporation	COM	867652406	1,808	236	SH		SOLE	0	236	0	0
Superior Industries	COM	868168105	120,392	70,819	SH		SOLE	0	70,819	0	0
Timberland Bancorp	COM	887098101	18,210	1,000	SH		SOLE	0	1,000	0	0
Toll Brothers	COM	889478103	6,518	200	SH		SOLE	0	200	0	0
Turtle Beach	COM	900450206	1,321,076	89,747	SH		SOLE	0	89,747	0	0
Unisys Corp	COM	909214306	885,456	81,160	SH		SOLE	0	81,160	0	0
Unit Corp	COM	909218109	7,877	98,465	SH		SOLE	0	98,465	0	0
United Bancshares	COM	909458101	754,368	41,909	SH		SOLE	0	41,909	0	0
United Parcel Service	COM	911312106	40,247	362	SH		SOLE	0	362	0	0
Wal-Mart Stores	COM	931142103	2,496,814	20,845	SH		SOLE	0	20,845	0	0
Walgreens Boots Alliance	COM	931427108	895,955	21,136	SH		SOLE	0	21,136	0	0
Westlake Chemical Partners	COM	960417103	482,781	25,490	SH		SOLE	0	25,490	0	0
Williams Companies	COM	969457100	2,855,050	150,108	SH		SOLE	0	150,108	0	0
Yelp	COM	985817105	671,695	29,040	SH		SOLE	0	29,040	0	0
Zions Bancorp	COM	989701107	435,064	12,796	SH		SOLE	0	12,796	0	0
Raytheon Technologies	COM	75513e101	1,238,747	20,103	SH		SOLE	0	20,103	0	0
Argan Inc	COM	04010e109	1,206,911	25,473	SH		SOLE	0	25,473	0	0
Travelers Companies	COM	89417e109	2,313,390	20,284	SH		SOLE	0	20,284	0	0
A T & T INC	COM	00206r102	135,854	4,494	SH		SOLE	0	4,494	0	0
Aceto Corp	CONV BOND	004446AD2	231,247	240,882	PRN		SOLE	0	240,882	0	0
Alaska Communications System Group	COM	01167p101	1,551,059	555,935	SH		SOLE	0	555,935	0	0
Alliance Resource Partners	COM	01877r108	549,326	168,505	SH		SOLE	0	168,505	0	0
American Airlines Group	COM	02376R102	211,263	16,164	SH		SOLE	0	16,164	0	0
American Airlines	CONV BOND	02376RAF9	28,188	30,000	PRN		SOLE	0	30,000	0	0
AmeriServ Financial	COM	03074a102	306,681	99,530	SH		SOLE	0	99,530	0	0
Antero Midstream	COM	03676b102	1,685,956	330,580	SH		SOLE	0	330,580	0	0
Arcbest Corp	COM	03937c105	777,406	29,325	SH		SOLE	0	29,325	0	0
Atlas Air Worldwide Holdings	CONV BOND	049164BH8	1,778,628	1,900,000	PRN		SOLE	0	1,900,000	0	0
BOK Financial	COM	05561q201	230,670	4,087	SH		SOLE	0	4,087	0	0
BP Midstream Partners	COM	0556EL109	941,251	82,062	SH		SOLE	0	82,062	0	0
BancFirst Corporation	COM	05945f103	217,658	5,365	SH		SOLE	0	5,365	0	0
Banc of California	COM	05990k106	2,015,171	186,073	SH		SOLE	0	186,073	0	0
Blackstone Group	COM	09253u108	395,204	6,975	SH		SOLE	0	6,975	0	0
Carlyle Group	COM	14309l102	279,977	10,035	SH		SOLE	0	10,035	0	0
Carrier Global Corporation	COM	14448c104	430,024	19,353	SH		SOLE	0	19,353	0	0
Chesapeake Energy	CONV BOND	165167CY1	93,750	3,125,000	PRN		SOLE	0	3,125,000	0	0
Cisco Systems	COM	17275r102	1,029,904	22,082	SH		SOLE	0	22,082	0	0
Contura Energy	COM	21241b100	94,672	31,142	SH		SOLE	0	31,142	0	0
Contura Energy	WARRANT	21241b118	12,721	63,607	SH		SOLE	0	63,607	0	0
Customers Bancorp	COM	23204g100	209,028	17,390	SH		SOLE	0	17,390	0	0
DR Horton	COM	23331a109	13,863	250	SH		SOLE	0	250	0	0
Delek Logistics Partners	COM	24664t103	1,199,996	52,333	SH		SOLE	0	52,333	0	0
EOG Resources	COM	26875p101	10,132	200	SH		SOLE	0	200	0	0
Eagle Bancorp Montana	COM	26942g100	790,234	45,468	SH		SOLE	0	45,468	0	0
Encore Capital Group	CONV BOND	292554AH5	2,034,641	2,075,000	PRN		SOLE	0	2,075,000	0	0
Energy Transfer	COM	29273v100	1,481,393	208,061	SH		SOLE	0	208,061	0	0
EnLink Midstream	COM	29336t100	195,842	282,361	SH		SOLE	0	282,361	0	0
Essa Bancorp	COM	29667d104	959,032	68,896	SH		SOLE	0	68,896	0	0
EZCorp	CONV BOND	302301AE6	1,267,591	1,636,000	PRN		SOLE	0	1,636,000	0	0
EZCorp	CONV BOND	302301AF3	245,484	270,000	PRN		SOLE	0	270,000	0	0
Exxon Mobil Corporation	COM	30231g102	1,055,392	23,600	SH		SOLE	0	23,600	0	0
FedEx Corporation	COM	31304n107	21,734	155	SH		SOLE	0	155	0	0
1st Constitution Bancorp	COM	31986n102	123,900	9,992	SH		SOLE	0	9,992	0	0
First United Corp	COM	33741h107	903,385	67,720	SH		SOLE	0	67,720	0	0
First US Bancshares	COM	33744v103	282,860	40,758	SH		SOLE	0	40,758	0	0
GNC Holdings	CONV BOND	36191GAB3	37,600	3,200,000	PRN		SOLE	0	3,200,000	0	0
General Motors	COM	37045v100	10,120	400	SH		SOLE	0	400	0	0
Global Eagle Entertainment	CONV BOND	37951DAB8	147,554	1,835,000	PRN		SOLE	0	1,835,000	0	0
Goldman Sachs	COM	38141g104	4,037,574	20,431	SH		SOLE	0	20,431	0	0
Greenbriar	CONV BOND	393657AK7	1,685,731	2,035,000	PRN		SOLE	0	2,035,000	0	0
HMN Financial	COM	40424g108	662,037	45,345	SH		SOLE	0	45,345	0	0
Homestreet	COM	43785u102	500,948	20,355	SH		SOLE	0	20,355	0	0
Horizon Global	CONV BOND	44052WAA2	1,530,058	2,175,000	PRN		SOLE	0	2,175,000	0	0
Horsehead Holdings	WARRANT	44069P118	32,447	3,245	SH		SOLE	0	3,245	0	0
Iridium Communications	COM	46269c102	85,835	3,374	SH		SOLE	0	3,374	0	0
iShares 0-5 Yr High Yield Corporate Bond	COM	46434v407	4,142,316	96,580	SH		SOLE	0	96,580	0	0
JPMorgan Chase	COM	46625h100	2,097,914	22,304	SH		SOLE	0	22,304	0	0
JP Morgan Chase Alerian ETN	COM	46625h365	2,838	215	SH		SOLE	0	215	0	0
KKR & Co	COM	48248m102	274,369	8,885	SH		SOLE	0	8,885	0	0
Kimball Electronics	COM	49428j109	1,010,693	74,645	SH		SOLE	0	74,645	0	0
Kinder Morgan	COM	49456b101	681,459	44,921	SH		SOLE	0	44,921	0	0
LGI Homes	COM	50187t106	1,290,168	14,656	SH		SOLE	0	14,656	0	0
MPLX	COM	55336v100	2,092,061	121,068	SH		SOLE	0	121,068	0	0
Macquarie Infrastructure	CONV BOND	55608BAB1	1,714,333	1,965,000	PRN		SOLE	0	1,965,000	0	0
Macy's	COM	55616p104	2,752	400	SH		SOLE	0	400	0	0
Merck	COM	58933y105	1,709,921	22,112	SH		SOLE	0	22,112	0	0
Meritage Homes	COM	59001a102	7,612	100	SH		SOLE	0	100	0	0
NGL Energy Partners	COM	62913M107	47,151	12,090	SH		SOLE	0	12,090	0	0
Otis Worldwide Corporation	COM	68902v107	551,826	9,705	SH		SOLE	0	9,705	0	0
PDL Biopharma	CONV BOND	69329YAG9	2,136,019	1,985,000	PRN		SOLE	0	1,985,000	0	0
PDL Biopharma	CONV BOND	69329YAJ3	1,158,800	1,000,000	PRN		SOLE	0	1,000,000	0	0
Pacific Premier Bancorp	COM	69478x105	730,746	33,706	SH		SOLE	0	33,706	0	0
Paycom Software	COM	70432v102	185,838	600	SH		SOLE	0	600	0	0
Paypal Holdings	COM	70450y103	17,423	100	SH		SOLE	0	100	0	0
Peoples Financial Corp.	COM	71103b102	736,944	77,573	SH		SOLE	0	77,573	0	0
Plains GP Holdings	COM	72651a207	511,702	57,495	SH		SOLE	0	57,495	0	0
PowerShares QQQ Trust	COM	73935a104	137,666	556	SH		SOLE	0	556	0	0
Premier Financial Bancorp	COM	74050m105	964,858	75,262	SH		SOLE	0	75,262	0	0
QCR Holdings	COM	74727a104	2,964,690	95,083	SH		SOLE	0	95,083	0	0
QEP Resources	COM	74733v100	1,935	1,500	SH		SOLE	0	1,500	0	0
SB Financial Group	COM	78408d105	2,773,637	166,885	SH		SOLE	0	166,885	0	0
SPDR S&P 600 Small Cap Value	COM	78464a300	348,163	7,088	SH		SOLE	0	7,088	0	0
SPDR Dow Jones Industrial Average	COM	78467x109	9,383,665	36,389	SH		SOLE	0	36,389	0	0
Sandridge Energy	WARRANT	80007p125	22	4,028	SH		SOLE	0	4,028	0	0
SandRidge Energy	COM	80007p869	116,622	90,405	SH		SOLE	0	90,405	0	0
Financial Sector SPDR	COM	81369y105	37,024	1,600	SH		SOLE	0	1,600	0	0
Sientra	COM	82621j105	3,096	800	SH		SOLE	0	800	0	0
Sterling Bancorp	COM	85917a100	268,822	22,937	SH		SOLE	0	22,937	0	0
Summit Financial Group	COM	86606g101	1,618,363	98,202	SH		SOLE	0	98,202	0	0
Sunpower Corp	CONV BOND	867652AJ8	1,333,440	1,460,000	PRN		SOLE	0	1,460,000	0	0
Sunpower Corp	CONV BOND	867652AL3	802,370	1,000,000	PRN		SOLE	0	1,000,000	0	0
Synaptics Inc.	CONV BOND	87157DAD1	1,569,931	1,475,000	PRN		SOLE	0	1,475,000	0	0
Talos Energy	COM	87484t108	472,484	51,357	SH		SOLE	0	51,357	0	0
Talos Energy	WARRANT	87484t116	13,295	69,972	SH		SOLE	0	69,972	0	0
Targa Resources Corp	COM	87612g101	1,288,359	64,193	SH		SOLE	0	64,193	0	0
Teekay Corp	CONV BOND	87900YAE3	820,120	1,000,000	PRN		SOLE	0	1,000,000	0	0
3M Co	COM	88579y101	3,170,653	20,326	SH		SOLE	0	20,326	0	0
Truist Financial	COM	89832q109	326,244	8,688	SH		SOLE	0	8,688	0	0
Tutor Perini	CONV BOND	901109AD0	1,928,243	2,024,000	PRN		SOLE	0	2,024,000	0	0
Uber Technologies	COM	90353t100	8,702	280	SH		SOLE	0	280	0	0
United Community Banks	COM	90984p303	4,426	220	SH		SOLE	0	220	0	0
UnitedHealth Group	COM	91324p102	6,035,857	20,464	SH		SOLE	0	20,464	0	0
Uniti Group Inc.	COM	91325v108	324,959	34,755	SH		SOLE	0	34,755	0	0
Vaalco Energy	COM	91851c201	258,887	208,780	SH		SOLE	0	208,780	0	0
Verizon Communications	COM	92343v104	1,242,630	22,540	SH		SOLE	0	22,540	0	0
Visa	COM	92826c839	3,890,830	20,142	SH		SOLE	0	20,142	0	0
Western Midstream Partners	COM	95825r103	794,415	79,125	SH		SOLE	0	79,125	0	0
Wintrust Financial	COM	97650w108	1,115,189	25,566	SH		SOLE	0	25,566	0	0
WPX Energy	COM	98212b103	31,445	4,929	SH		SOLE	0	4,929	0	0
Bunge Ltd	CONV PREF	g16962204	1,597,314	17,364	SH		SOLE	0	17,364	0	0
Seagate Technology	COM	G7945M107	9,682	200	SH		SOLE	0	200	0	0
Genco Shipping	WARRANT	y2685t123	129	2,155	SH		SOLE	0	2,155	0	0
Genco Shipping & Trading	COM	y2685t131	93,431	14,877	SH		SOLE	0	14,877	0	0
Navios Maritime Containers	COM	y62151108	76	94	SH		SOLE	0	94	0	0
Navios Maritime Acquisition	COM	y62159101	2,983	733	SH		SOLE	0	733	0	0
Navios Maritime Holdings	COM	y62196103	39,096	18,529	SH		SOLE	0	18,529	0	0
Navios Maritime Partners	COM	y62267102	84,749	8,728	SH		SOLE	0	8,728	0	0
Teekay LNG Partners	COM	y8564m105	1,687,144	144,695	SH		SOLE	0	144,695	0	0
Teekay	COM	y8564w103	50,556	21,065	SH		SOLE	0	21,065	0	0
Deutsche Bank	COM	d18190898	156,128	16,400	SH		SOLE	0	16,400	0	0