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
Algoma Steel	COM	015658107	37,913	5,980	SH		SOLE	0	5,980	0	0
Alpha Metallurgical Resources	COM	020764106	1,979,778	13,524	SH		SOLE	0	13,524	0	0
American Express Company	COM	025816109	1,643,867	11,126	SH		SOLE	0	11,126	0	0
Amgen	COM	031162100	4,291,538	16,340	SH		SOLE	0	16,340	0	0
Apple	COM	037833100	2,600,023	20,011	SH		SOLE	0	20,011	0	0
Astrazeneca	COM	046353108	61,020	900	SH		SOLE	0	900	0	0
Atlas Air Worldwide Holdings	COM	049164205	1,274,011	12,639	SH		SOLE	0	12,639	0	0
Bank of America	COM	060505104	1,183,974	35,748	SH		SOLE	0	35,748	0	0
Bank of America	CONV PREF	060505682	33,640	29	SH		SOLE	0	29	0	0
Barrick Gold Corp	COM	067901108	21,286	1,239	SH		SOLE	0	1,239	0	0
Berkshire Hathaway	COM	084670702	598,957	1,939	SH		SOLE	0	1,939	0	0
Berkshire Hills Bancorp	COM	084680107	62,102	2,077	SH		SOLE	0	2,077	0	0
The Boeing Company	COM	097023105	2,342,075	12,295	SH		SOLE	0	12,295	0	0
Caterpillar	COM	149123101	2,775,303	11,585	SH		SOLE	0	11,585	0	0
Central Valley Community Bancorp	COM	155685100	416,632	19,671	SH		SOLE	0	19,671	0	0
Chevron Corporation	COM	166764100	2,790,531	15,547	SH		SOLE	0	15,547	0	0
Citigroup	COM	172967424	1,167,567	25,814	SH		SOLE	0	25,814	0	0
Citizens Financial Group	COM	174610105	399,999	10,160	SH		SOLE	0	10,160	0	0
Citizens Community Bancorp	COM	174903104	1,183,499	98,379	SH		SOLE	0	98,379	0	0
Civista Bancshares	COM	178867107	1,216,163	55,255	SH		SOLE	0	55,255	0	0
Cleveland-Cliffs	COM	185899101	1,701,973	105,647	SH		SOLE	0	105,647	0	0
The Coca-Cola Company	COM	191216100	778,968	12,246	SH		SOLE	0	12,246	0	0
Codorus Bancorp	COM	192025104	862,732	36,249	SH		SOLE	0	36,249	0	0
McDermott International	COM	220014096	140,128	388,010	SH		SOLE	0	388,010	0	0
Cowen Inc	CONV PREF	223622507	2,917,138	1,912	SH		SOLE	0	1,912	0	0
Crestwood Equity Partners	COM	226344109	667,321	25,480	SH		SOLE	0	25,480	0	0
Walt Disney Co	COM	254687106	994,038	11,442	SH		SOLE	0	11,442	0	0
Dow Inc	COM	260557103	660,717	13,112	SH		SOLE	0	13,112	0	0
Enterprise Products Partners	COM	293792107	1,903,623	78,923	SH		SOLE	0	78,923	0	0
Equitrans Midstream Corporation	COM	294600101	994,815	148,480	SH		SOLE	0	148,480	0	0
EZCORP	COM	302301106	8,150	1,000	SH		SOLE	0	1,000	0	0
F.N.B. Corporation	COM	302520101	122,944	9,421	SH		SOLE	0	9,421	0	0
Freddie Mac	COM	313400301	110,596	313,038	SH		SOLE	0	313,038	0	0
Freddie Mac	PREF STK	313400640	292,409	172,005	SH		SOLE	0	172,005	0	0
Federal National Mortgage Association	COM	313586109	27,561	77,988	SH		SOLE	0	77,988	0	0
Fannie Mae	PREF STK	313586752	14,040	6,000	SH		SOLE	0	6,000	0	0
Fifth Third Bancorp	COM	316773100	280,033	8,535	SH		SOLE	0	8,535	0	0
First Bancshares	COM	318916103	1,442,403	45,061	SH		SOLE	0	45,061	0	0
First Community Corp	COM	319835104	1,036,163	47,335	SH		SOLE	0	47,335	0	0
The First Financial Corp	COM	320218100	361,922	7,854	SH		SOLE	0	7,854	0	0
Ford Motor	COM	345370860	42,866	3,686	SH		SOLE	0	3,686	0	0
General Electric Company	COM	369604103	150,539	1,797	SH		SOLE	0	1,797	0	0
Genesis Energy	COM	371927104	1,628,852	159,535	SH		SOLE	0	159,535	0	0
Graftech International	COM	384313508	936,225	196,686	SH		SOLE	0	196,686	0	0
Hancock Whitney Corporation	COM	410120109	299,970	6,199	SH		SOLE	0	6,199	0	0
Hawaiian Holdings	COM	419879101	12,630	1,231	SH		SOLE	0	1,231	0	0
Hawthorn Bancshares	COM	420476103	921,198	42,315	SH		SOLE	0	42,315	0	0
Hess Midstream Partners	COM	428103105	2,459,992	82,219	SH		SOLE	0	82,219	0	0
The Home Depot	COM	437076102	3,794,742	12,014	SH		SOLE	0	12,014	0	0
Honeywell International	COM	438516106	2,488,023	11,610	SH		SOLE	0	11,610	0	0
Hugoton Royalty Trust	COM	444717102	504,096	262,550	SH		SOLE	0	262,550	0	0
Icahn Enteprises LP	COM	451100101	34,594	683	SH		SOLE	0	683	0	0
Intel Corporation	COM	458140100	434,245	16,430	SH		SOLE	0	16,430	0	0
International Business Machines	COM	459200101	1,751,122	12,429	SH		SOLE	0	12,429	0	0
iShares Barclays TIPS Bond	COM	464287176	196,532	1,846	SH		SOLE	0	1,846	0	0
iShares DJ US Financial Sector	COM	464287788	185,052	2,452	SH		SOLE	0	2,452	0	0
Ishares Oil & Gas Exploration	COM	464288851	16,901	182	SH		SOLE	0	182	0	0
Johnson & Johnson	COM	478160104	2,477,340	14,024	SH		SOLE	0	14,024	0	0
La-Z-Boy	COM	505336107	764,287	33,492	SH		SOLE	0	33,492	0	0
Lakeland Bancorp	COM	511637100	248,195	14,094	SH		SOLE	0	14,094	0	0
Liberty Broadband	COM	530307305	26,847	352	SH		SOLE	0	352	0	0
MDC Holdings	COM	552676108	1,003,616	31,760	SH		SOLE	0	31,760	0	0
Magellan Midstream Partners	COM	559080106	2,056,200	40,952	SH		SOLE	0	40,952	0	0
McDonald's	COM	580135101	3,222,972	12,230	SH		SOLE	0	12,230	0	0
Mesa Air Group	COM	590479135	355,694	232,480	SH		SOLE	0	232,480	0	0
Microsoft Corporation	COM	594918104	3,189,977	13,302	SH		SOLE	0	13,302	0	0
Microchip Technology	COM	595017704	55,779	794	SH		SOLE	0	794	0	0
MidWest One Financial Group	COM	598511103	2,286,762	72,024	SH		SOLE	0	72,024	0	0
NMI Holdings	COM	629209305	1,491,466	71,362	SH		SOLE	0	71,362	0	0
New York Community Bancorp	COM	649445103	822,203	95,605	SH		SOLE	0	95,605	0	0
Newmont Mining	COM	651639106	49,843	1,056	SH		SOLE	0	1,056	0	0
Nike	COM	654106103	1,297,056	11,085	SH		SOLE	0	11,085	0	0
OceanFirst Financial	COM	675234108	949,684	44,691	SH		SOLE	0	44,691	0	0
Old National Bancorp	COM	680033107	930,303	51,741	SH		SOLE	0	51,741	0	0
ONEOK	COM	682680103	3,872,949	58,949	SH		SOLE	0	58,949	0	0
Pacwest Bancorp	COM	695263103	410,071	17,868	SH		SOLE	0	17,868	0	0
Pacwest Bancorp	PREF STK	695263202	139,250	5,570	SH		SOLE	0	5,570	0	0
Parke Bancorp	COM	700885106	916,102	44,171	SH		SOLE	0	44,171	0	0
Peoples Bancorp	COM	709789101	1,140,392	40,368	SH		SOLE	0	40,368	0	0
Peoples Bancorp	COM	710577107	1,135,986	34,889	SH		SOLE	0	34,889	0	0
Pfizer	COM	717081103	280,129	5,467	SH		SOLE	0	5,467	0	0
Plains All American Pipeline	COM	726503105	72,289	6,147	SH		SOLE	0	6,147	0	0
Procter & Gamble	COM	742718109	1,988,316	13,119	SH		SOLE	0	13,119	0	0
Realty Income Corp	COM	756109104	33,364	526	SH		SOLE	0	526	0	0
Republic Services	COM	760759100	48,629	377	SH		SOLE	0	377	0	0
Southwestern Energy Company	COM	845467109	17,550	3,000	SH		SOLE	0	3,000	0	0
Superior Industries	COM	868168105	720,749	170,794	SH		SOLE	0	170,794	0	0
Taiwan Semiconductor	COM	874039100	37,245	500	SH		SOLE	0	500	0	0
Ternium SA	COM	880890108	31,752	1,039	SH		SOLE	0	1,039	0	0
Turtle Beach Corp	COM	900450206	471,944	65,822	SH		SOLE	0	65,822	0	0
Umpqua Holdings Corporation	COM	904214103	17,850	1,000	SH		SOLE	0	1,000	0	0
Unisys Corp	COM	909214306	434,508	85,031	SH		SOLE	0	85,031	0	0
Unit Corp	WARRANT	909218125	370,836	32,107	SH		SOLE	0	32,107	0	0
Unit Corp	COM	909218406	5,359,688	92,632	SH		SOLE	0	92,632	0	0
United Bancshares	COM	909458101	744,775	39,785	SH		SOLE	0	39,785	0	0
United Parcel Service	COM	911312106	155,239	893	SH		SOLE	0	893	0	0
Wal-Mart Stores	COM	931142103	1,698,708	11,980	SH		SOLE	0	11,980	0	0
Walgreens Boots Alliance	COM	931427108	469,690	12,572	SH		SOLE	0	12,572	0	0
Wells Fargo & Company	COM	949746101	71,514	1,732	SH		SOLE	0	1,732	0	0
Westlake Chemical Partners	COM	960417103	829,527	35,299	SH		SOLE	0	35,299	0	0
Williams Companies	COM	969457100	3,754,189	114,109	SH		SOLE	0	114,109	0	0
Yelp	COM	985817105	914,550	33,451	SH		SOLE	0	33,451	0	0
Zions Bancorp	COM	989701107	553,837	11,266	SH		SOLE	0	11,266	0	0
Argan Inc	COM	04010e109	966,994	26,220	SH		SOLE	0	26,220	0	0
The Travelers Companies	COM	89417e109	2,141,698	11,423	SH		SOLE	0	11,423	0	0
AMG Capital Trust II	CONV PREF	00170F209	1,710,109	33,206	SH		SOLE	0	33,206	0	0
A T & T INC NEW	COM	00206r102	74,634	4,054	SH		SOLE	0	4,054	0	0
Academy Sports & Outdoors	COM	00402l107	1,554,448	29,586	SH		SOLE	0	29,586	0	0
Alliance Resource Partners	COM	01877r108	2,439,761	120,067	SH		SOLE	0	120,067	0	0
Altria Group	COM	02209s103	88,952	1,946	SH		SOLE	0	1,946	0	0
Kinetik Holdings	COM	02215l209	3,367,610	101,802	SH		SOLE	0	101,802	0	0
American Airlines Group	COM	02376R102	210,465	16,546	SH		SOLE	0	16,546	0	0
American Airlines	CONV BOND	02376RAF9	52,802	50,000	PRN		SOLE	0	50,000	0	0
Antero Midstream	COM	03676b102	3,258,825	302,023	SH		SOLE	0	302,023	0	0
Arcbest Corp	COM	03937c105	974,467	13,913	SH		SOLE	0	13,913	0	0
Avaya Holdings Corp	CONV BOND	05351XAB7	85,875	2,290,000	PRN		SOLE	0	2,290,000	0	0
BOK Financial Corp	COM	05561q201	205,193	1,977	SH		SOLE	0	1,977	0	0
BancFirst Corporation	COM	05945f103	31,745	360	SH		SOLE	0	360	0	0
Banc of California	COM	05990k106	86,022	5,400	SH		SOLE	0	5,400	0	0
Bill.com Holdings	CONV BOND	090043AD2	395,250	500,000	PRN		SOLE	0	500,000	0	0
Blackline Corp	CONV BOND	09239BAD1	425,938	500,000	PRN		SOLE	0	500,000	0	0
Brighthouse Financial	COM	10922n103	2,201,483	42,939	SH		SOLE	0	42,939	0	0
CareDx Inc	COM	14167l103	14,742	1,292	SH		SOLE	0	1,292	0	0
The Cheesecake Factory	CONV BOND	163072AA9	1,593,143	1,925,000	PRN		SOLE	0	1,925,000	0	0
Cisco Systems	COM	17275r102	706,882	14,838	SH		SOLE	0	14,838	0	0
Cloudfare	CONV BOND	18915MAC1	407,500	500,000	PRN		SOLE	0	500,000	0	0
Contura Energy	WARRANT	21241b118	1,072,060	8,860	SH		SOLE	0	8,860	0	0
Coupa Software	CONV BOND	22266LAF3	480,750	500,000	PRN		SOLE	0	500,000	0	0
Customers Bancorp	COM	23204g100	441,821	15,590	SH		SOLE	0	15,590	0	0
DR Horton	COM	23331a109	13,371	150	SH		SOLE	0	150	0	0
Delek Logistics Partners	COM	24664t103	1,154,554	25,515	SH		SOLE	0	25,515	0	0
Devon Energy Corporation	COM	25179m103	211,246	3,434	SH		SOLE	0	3,434	0	0
Eagle Bancorp Montana	COM	26942g100	626,733	38,783	SH		SOLE	0	38,783	0	0
Earthstone Energy	COM	27032d304	1,201,055	84,403	SH		SOLE	0	84,403	0	0
Energy Transfer	COM	29273v100	1,477,877	124,505	SH		SOLE	0	124,505	0	0
EnLink Midstream	COM	29336t100	2,096,352	170,435	SH		SOLE	0	170,435	0	0
Essa Bancorp	COM	29667d104	1,252,012	59,991	SH		SOLE	0	59,991	0	0
EZCorp Inc	CONV BOND	302301AE6	1,310,929	1,481,000	PRN		SOLE	0	1,481,000	0	0
EZCorp Inc	CONV BOND	302301AF3	331,917	320,000	PRN		SOLE	0	320,000	0	0
Exxon Mobil Corporation	COM	30231g102	424,876	3,852	SH		SOLE	0	3,852	0	0
First United Corp	COM	33741h107	1,199,063	61,021	SH		SOLE	0	61,021	0	0
First US Bancshares	COM	33744v103	446,551	51,446	SH		SOLE	0	51,446	0	0
Five9	CONV BOND	338307AD3	458,000	500,000	PRN		SOLE	0	500,000	0	0
General Motors Corp.	COM	37045v100	13,456	400	SH		SOLE	0	400	0	0
The Goldman Sachs Group	COM	38141g104	3,933,761	11,456	SH		SOLE	0	11,456	0	0
Greenbriar	CONV BOND	393657AK7	1,657,513	1,755,000	PRN		SOLE	0	1,755,000	0	0
HMN Financial	COM	40424g108	943,228	44,200	SH		SOLE	0	44,200	0	0
Homestreet	COM	43785u102	456,035	16,535	SH		SOLE	0	16,535	0	0
Hope Bancorp	COM	43940t109	796,065	62,144	SH		SOLE	0	62,144	0	0
Iridium Communications	COM	46269c102	78,539	1,528	SH		SOLE	0	1,528	0	0
JPMorgan	COM	46625h100	1,869,354	13,940	SH		SOLE	0	13,940	0	0
JP Morgan Chase Alerian ETN	COM	46625h365	51,743	2,379	SH		SOLE	0	2,379	0	0
Jackson Financial	COM	46817m107	679,623	19,535	SH		SOLE	0	19,535	0	0
Jetblue Airways	CONV BOND	477143AP6	2,139,841	2,935,000	PRN		SOLE	0	2,935,000	0	0
Kimball Electronics	COM	49428j109	1,532,619	67,845	SH		SOLE	0	67,845	0	0
Kinder Morgan	COM	49456b101	1,077,658	59,605	SH		SOLE	0	59,605	0	0
LCI Industries	CONV BOND	501812AB7	1,208,933	1,440,000	PRN		SOLE	0	1,440,000	0	0
LGI Homes	COM	50187t106	718,113	7,755	SH		SOLE	0	7,755	0	0
MPLX	COM	55336v100	2,647,269	80,611	SH		SOLE	0	80,611	0	0
Macy's	COM	55616p104	8,260	400	SH		SOLE	0	400	0	0
Mastercard	COM	57636q104	139,092	400	SH		SOLE	0	400	0	0
Merck	COM	58933y105	1,462,654	13,183	SH		SOLE	0	13,183	0	0
NETGEAR	COM	64111Q104	591,237	32,647	SH		SOLE	0	32,647	0	0
Rithm Capital Corp	COM	64828t201	57,149	6,995	SH		SOLE	0	6,995	0	0
New York Community Bancorp	CONV PREF	64944p307	1,717,848	39,600	SH		SOLE	0	39,600	0	0
Okta Inc	CONV BOND	679295AF2	420,000	500,000	PRN		SOLE	0	500,000	0	0
Oracle Corporation	COM	68389x105	287,480	3,517	SH		SOLE	0	3,517	0	0
Palantir Technologies	COM	69608a109	10,272	1,600	SH		SOLE	0	1,600	0	0
Peoples Financial	COM	71103b102	992,483	68,803	SH		SOLE	0	68,803	0	0
Pershing Square Tontine Holdings	RIGHT	715esc018	250	25,000	SH		SOLE	0	25,000	0	0
Plains GP Holdings	COM	72651a207	44,598	3,585	SH		SOLE	0	3,585	0	0
Primis Financial	COM	74167b109	771,506	65,106	SH		SOLE	0	65,106	0	0
ProShares Ultra DJ AIG Crude Oil	COM	74347w502	18,307	604	SH		SOLE	0	604	0	0
Proshs Ushort Nat Gas	COM	74347y821	6,001	218	SH		SOLE	0	218	0	0
Bloomberg Natural Gas	COM	74347y870	12,766	718	SH		SOLE	0	718	0	0
ProShares S&P 500 Dividend Aristocrat	COM	74348a467	141,284	1,570	SH		SOLE	0	1,570	0	0
QCR Holdings	COM	74727a104	4,474,101	90,131	SH		SOLE	0	90,131	0	0
SB Financial Group	COM	78408d105	2,763,828	163,058	SH		SOLE	0	163,058	0	0
SPDR S&P 600 Small Cap Value	COM	78464a300	432,554	5,828	SH		SOLE	0	5,828	0	0
SPDR Dow Jones Industrial Average	COM	78467x109	11,172,131	33,719	SH		SOLE	0	33,719	0	0
salesforce.com	COM	79466l302	1,392,858	10,505	SH		SOLE	0	10,505	0	0
SandRidge Energy	COM	80007p869	136,581	8,020	SH		SOLE	0	8,020	0	0
Schneider Natl	COM	80689h102	72,212	3,086	SH		SOLE	0	3,086	0	0
Sea Ltd	COM	81141r100	20,500	394	SH		SOLE	0	394	0	0
Financial Sector SPDR	COM	81369y105	28,112	822	SH		SOLE	0	822	0	0
Shake Shack Inc	CONV BOND	819047AB7	1,332,061	1,979,000	PRN		SOLE	0	1,979,000	0	0
Sounds Financial Banc	COM	83607a100	320,051	8,150	SH		SOLE	0	8,150	0	0
Sprouts Farmers Market	COM	85208M102	1,339,471	41,380	SH		SOLE	0	41,380	0	0
Sterling Bancorp	COM	85917w102	393,444	64,605	SH		SOLE	0	64,605	0	0
Summit Financial Group	COM	86606g101	2,284,695	91,792	SH		SOLE	0	91,792	0	0
Talos Energy	COM	87484t108	2,171,294	115,005	SH		SOLE	0	115,005	0	0
Targa Resources Corp	COM	87612g101	3,412,530	46,429	SH		SOLE	0	46,429	0	0
3M	COM	88579y101	1,362,891	11,365	SH		SOLE	0	11,365	0	0
Truist Financial Corp	COM	89832q109	307,363	7,143	SH		SOLE	0	7,143	0	0
US Xpress Enterprises	COM	90338n202	472,012	260,780	SH		SOLE	0	260,780	0	0
Uber Technologies	COM	90353t100	14,343	580	SH		SOLE	0	580	0	0
UnitedHealth Group Inc	COM	91324p102	6,081,695	11,471	SH		SOLE	0	11,471	0	0
Uniti Group	COM	91325v108	45,650	8,255	SH		SOLE	0	8,255	0	0
Vaalco Energy	COM	91851c201	936,870	205,454	SH		SOLE	0	205,454	0	0
Verizon Communications	COM	92343v104	583,514	14,810	SH		SOLE	0	14,810	0	0
Visa	COM	92826c839	2,342,286	11,274	SH		SOLE	0	11,274	0	0
Vishay Intertechnology	CONV BOND	928298AP3	2,025,515	2,090,000	PRN		SOLE	0	2,090,000	0	0
Western Midstream Partners	COM	95825r103	1,795,889	66,886	SH		SOLE	0	66,886	0	0
WisdomTree Investments	CONV BOND	97717PAD6	1,753,365	1,910,000	PRN		SOLE	0	1,910,000	0	0
Zillow Group	CONV BOND	98954MAH4	1,826,673	1,900,000	PRN		SOLE	0	1,900,000	0	0
Deutsche Bank	COM	d18190898	286,848	24,900	SH		SOLE	0	24,900	0	0
Arcos Dorados Holdings Inc	COM	g0457f107	594	71	SH		SOLE	0	71	0	0
Bunge Ltd	COM	g16962105	140,062	1,404	SH		SOLE	0	1,404	0	0
McDermott	WARRANT	G5924V114	652	65,197	SH		SOLE	0	65,197	0	0
McDermott	WARRANT	G5924V122	724	72,441	SH		SOLE	0	72,441	0	0
Expro Group Holdings	COM	n3144w105	1,162,127	64,100	SH		SOLE	0	64,100	0	0
Genco Shipping	COM	y2685t131	15,360	1,000	SH		SOLE	0	1,000	0	0
Navios Maritime Holdings	COM	y62196103	32,095	18,340	SH		SOLE	0	18,340	0	0
Navios Maritime Partners	COM	y62267102	1,777,412	68,467	SH		SOLE	0	68,467	0	0
Teekay Inc	COM	y8564w103	49,509	10,905	SH		SOLE	0	10,905	0	0
Teekay Tankers	COM	y8565n102	14,203	461	SH		SOLE	0	461	0	0