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

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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
Bread Financial Holdings, Inc.	COM	018581108	45,795	750	SH		SOLE		750	0	0
Alpha Metallurgical Resources, Inc	COM	020764106	146,908	734	SH		SOLE		734	0	0
Amazon.com, Inc.	COM	023135106	2,315,442	10,554	SH		SOLE		10,554	0	0
AMBAC Financial	COM	023139884	2,353	186	SH		SOLE		186	0	0
American Express Company	COM	025816109	2,527,464	8,516	SH		SOLE		8,516	0	0
Amgen Inc.	COM	031162100	3,379,458	12,966	SH		SOLE		12,966	0	0
Apple, Inc.	COM	037833100	5,210,738	20,808	SH		SOLE		20,808	0	0
Astrazeneca PLC Common Stock	COM	046353108	52,416	800	SH		SOLE		800	0	0
Bank of America	COM	060505104	1,690,800	38,471	SH		SOLE		38,471	0	0
Bank of America Preferred	CONV PREF	060505682	1,257,047	1,031	SH		SOLE		1,031	0	0
Barrick Gold Corp.	COM	067901108	19,205	1,239	SH		SOLE		1,239	0	0
Berkshire Hills Bancorp Inc	COM	084680107	15,352	540	SH		SOLE		540	0	0
The Boeing Company	COM	097023105	1,640,613	9,269	SH		SOLE		9,269	0	0
Brandywine Realty Trust	COM	105368203	42,773	7,638	SH		SOLE		7,638	0	0
CVB Financial	COM	126600105	167,062	7,803	SH		SOLE		7,803	0	0
Coterra Energy Inc	COM	127097103	123,052	4,818	SH		SOLE		4,818	0	0
Caterpillar Inc.	COM	149123101	3,247,065	8,951	SH		SOLE		8,951	0	0
Chemours Company	COM	163851108	1,094,275	64,750	SH		SOLE		64,750	0	0
Expand Energy $29.99 WTUS 2/9/26	WARRANT	165167180	24,739	286	SH		SOLE		286	0	0
Expand Energy Corporation	COM	165167735	38,994	392	SH		SOLE		392	0	0
Chevron Corporation	COM	166764100	1,893,059	13,070	SH		SOLE		13,070	0	0
Citigroup, Inc.	COM	172967424	2,038,494	28,960	SH		SOLE		28,960	0	0
Citizens Financial Group Inc.	COM	174610105	510,110	11,657	SH		SOLE		11,657	0	0
Citizens Community Bancorp Inc.	COM	174903104	1,488,043	91,347	SH		SOLE		91,347	0	0
Civista Bancshares, Inc.	COM	178867107	1,241,991	59,030	SH		SOLE		59,030	0	0
Cleveland-Cliffs, Inc.	COM	185899101	981,548	104,420	SH		SOLE		104,420	0	0
The Coca-Cola Company	COM	191216100	647,068	10,393	SH		SOLE		10,393	0	0
Columbia Banking System Inc	COM	197236102	15,990	592	SH		SOLE		592	0	0
Commercial Vehicle Group Inc	COM	202608105	25,537	10,297	SH		SOLE		10,297	0	0
Community West Bancshares	COM	203937107	424,319	21,906	SH		SOLE		21,906	0	0
Constellation Energy Group	COM	210371100	53,467	239	SH		SOLE		239	0	0
McDermott International Ltd	COM	220014096	49,163	409,693	SH		SOLE		409,693	0	0
Walt Disney Co.	COM	254687106	952,599	8,555	SH		SOLE		8,555	0	0
Dow Inc.	COM	260557103	83,631	2,084	SH		SOLE		2,084	0	0
Enterprise Products Partners, LP	COM	293792107	2,749,206	87,666	SH		SOLE		87,666	0	0
EZCORP Inc.	COM	302301106	12,220	1,000	SH		SOLE		1,000	0	0
F.N.B. Corporation	COM	302520101	104,465	7,068	SH		SOLE		7,068	0	0
Fair Isaac Corp	COM	303250104	25,882	13	SH		SOLE		13	0	0
Freddie Mac	COM	313400301	1,428,349	437,406	SH		SOLE		437,406	0	0
Freddie Mac Preferred Series I	PREF STK	313400640	1,706,010	179,580	SH		SOLE		179,580	0	0
Federal National Mortgage Association	COM	313586109	370,601	112,988	SH		SOLE		112,988	0	0
Fannie Mae Preferred	PREF STK	313586752	71,580	6,000	SH		SOLE		6,000	0	0
Fifth Third Bancorp	COM	316773100	491,505	11,625	SH		SOLE		11,625	0	0
First Bancshares, Inc.	COM	318916103	1,504,160	42,976	SH		SOLE		42,976	0	0
First Community Corp.	COM	319835104	1,124,400	46,850	SH		SOLE		46,850	0	0
The First Financial Corp.	COM	320218100	378,306	8,190	SH		SOLE		8,190	0	0
Ford Motor Co.	COM	345370860	66,566	6,724	SH		SOLE		6,724	0	0
Genesis Energy LP	COM	371927104	2,374,738	234,890	SH		SOLE		234,890	0	0
Graftech International Ltd.	COM	384313508	10,769	6,225	SH		SOLE		6,225	0	0
Hancock Whitney Corporation	COM	410120109	341,015	6,232	SH		SOLE		6,232	0	0
Hawthorn Bancshares, Inc.	COM	420476103	1,354,108	47,764	SH		SOLE		47,764	0	0
Hello Group Inc	COM	423403104	64,579	8,376	SH		SOLE		8,376	0	0
Hess Midstream Partners LP	COM	428103105	3,144,824	84,926	SH		SOLE		84,926	0	0
The Home Depot, Inc.	COM	437076102	3,654,172	9,394	SH		SOLE		9,394	0	0
Honeywell International Inc.	COM	438516106	2,107,554	9,330	SH		SOLE		9,330	0	0
Intel Corporation	COM	458140100	106,145	5,294	SH		SOLE		5,294	0	0
International Business Machines Corp.	COM	459200101	2,200,718	10,011	SH		SOLE		10,011	0	0
The Interpublic Group of Companies, Inc.	COM	460690100	12,945	462	SH		SOLE		462	0	0
iShares Barclays TIPS Bond	COM	464287176	195,031	1,830	SH		SOLE		1,830	0	0
Jetblue Airways Corp.	COM	477143101	1,843,036	234,483	SH		SOLE		234,483	0	0
Johnson & Johnson	COM	478160104	1,612,224	11,148	SH		SOLE		11,148	0	0
La-Z-Boy	COM	505336107	1,259,129	28,899	SH		SOLE		28,899	0	0
Vital Energy, Inc.	COM	516806205	653,587	21,138	SH		SOLE		21,138	0	0
McDonald's Corp.	COM	580135101	2,761,492	9,526	SH		SOLE		9,526	0	0
Mesa Air Group Inc	COM	590479135	878,265	757,125	SH		SOLE		757,125	0	0
Microsoft Corporation	COM	594918104	4,829,400	11,458	SH		SOLE		11,458	0	0
MidWest One Financial Group, Inc.	COM	598511103	2,241,891	76,988	SH		SOLE		76,988	0	0
NMI Holdings Inc	COM	629209305	2,346,207	63,825	SH		SOLE		63,825	0	0
New Fortress Energy	COM	644393100	1,650,182	109,139	SH		SOLE		109,139	0	0
Flagstar Financial Inc.	COM	649445400	810,402	86,860	SH		SOLE		86,860	0	0
Nike Inc. Class B	COM	654106103	643,800	8,508	SH		SOLE		8,508	0	0
OceanFirst Financial Corp.	COM	675234108	927,444	51,240	SH		SOLE		51,240	0	0
Okta, Inc.	COM	679295105	35,460	450	SH		SOLE		450	0	0
Old National Bancorp	COM	680033107	1,231,780	56,751	SH		SOLE		56,751	0	0
ONEOK Inc.	COM	682680103	5,723,929	57,011	SH		SOLE		57,011	0	0
Orrstow Financial Services Inc	COM	687380105	1,143,339	31,230	SH		SOLE		31,230	0	0
PAM Transporation Services, Inc.	COM	693149106	828,222	50,563	SH		SOLE		50,563	0	0
Parke Bancorp Inc.	COM	700885106	1,024,290	49,941	SH		SOLE		49,941	0	0
Peoples Bancorp Inc.	COM	709789101	1,171,747	36,975	SH		SOLE		36,975	0	0
Peoples Bancorp of NC	COM	710577107	1,090,281	34,889	SH		SOLE		34,889	0	0
Piedmont Office Realty Trust	COM	720190206	43,170	4,718	SH		SOLE		4,718	0	0
Plains All American Pipeline, L.P.	COM	726503105	94,965	5,560	SH		SOLE		5,560	0	0
Pricesmart, Inc.	COM	741511109	9,217	100	SH		SOLE		100	0	0
Procter & Gamble Co.	COM	742718109	1,776,419	10,596	SH		SOLE		10,596	0	0
SSR Mining Inc.	COM	784730103	4,400	630	SH		SOLE		630	0	0
Sherwin-Williams Co	COM	824348106	2,665,051	7,840	SH		SOLE		7,840	0	0
Superior Industries International, Inc.	COM	868168105	468,145	229,483	SH		SOLE		229,483	0	0
Taiwan Semiconductor Manufacturing	COM	874039100	100,522	509	SH		SOLE		509	0	0
Toll Brothers Inc.	COM	889478103	25,190	200	SH		SOLE		200	0	0
Turtle Beach Corp.	COM	900450206	1,038,271	59,981	SH		SOLE		59,981	0	0
Unisys Corp	COM	909214306	879,072	138,874	SH		SOLE		138,874	0	0
Unit Corp. Warrants Exp 9/03/27	WARRANT	909218125	70,006	142,869	SH		SOLE		142,869	0	0
Unit Corp.	COM	909218406	2,694,233	89,213	SH		SOLE		89,213	0	0
United Bancshares Inc.	COM	909458101	706,862	22,802	SH		SOLE		22,802	0	0
Vermilion Energy Inc	COM	923725105	28,698	3,053	SH		SOLE		3,053	0	0
Wal-Mart Stores Inc.	COM	931142103	1,087,901	12,041	SH		SOLE		12,041	0	0
Wells Fargo & Company	COM	949746101	183,326	2,610	SH		SOLE		2,610	0	0
Westlake Chemical Partners LP	COM	960417103	909,795	39,317	SH		SOLE		39,317	0	0
Williams Companies, Inc.	COM	969457100	4,483,475	82,843	SH		SOLE		82,843	0	0
Yelp, Inc.	COM	985817105	1,313,904	33,951	SH		SOLE		33,951	0	0
Zions Bancorp	COM	989701107	718,487	13,244	SH		SOLE		13,244	0	0
Raytheon Technologies Corp	COM	75513e101	34,473	298	SH		SOLE		298	0	0
Argan Inc.	COM	04010e109	1,621,183	11,830	SH		SOLE		11,830	0	0
Eventbrite, Inc.	COM	29975e109	818,489	243,598	SH		SOLE		243,598	0	0
The Travelers Companies, Inc.	COM	89417e109	2,094,057	8,693	SH		SOLE		8,693	0	0
Barclays PLC	COM	06738e204	40,973	3,083	SH		SOLE		3,083	0	0
AMG Capital Trust II	CONV PREF	00170F209	1,602,868	29,060	SH		SOLE		29,060	0	0
A T & T INC NEW	COM	00206r102	67,672	2,972	SH		SOLE		2,972	0	0
Academy Sports & Outdoors, Inc.	COM	00402l107	1,630,400	28,340	SH		SOLE		28,340	0	0
Air Transport Services Group	CONV BOND	00922RAD7	985,872	997,000	PRN		SOLE		997,000	0	0
Alerus Financial	COM	01446u103	942,741	48,999	SH		SOLE		48,999	0	0
Alliance Resource Partners, LP	COM	01877r108	3,372,899	128,296	SH		SOLE		128,296	0	0
Kinetik Holdings Inc.	COM	02215l209	5,490,036	96,809	SH		SOLE		96,809	0	0
American Airlines Group	COM	02376R102	288,397	16,546	SH		SOLE		16,546	0	0
American Airlines Convertible Bond	CONV BOND	02376RAF9	58,554	50,000	PRN		SOLE		50,000	0	0
Antero Midstream Corp.	COM	03676b102	4,302,003	285,090	SH		SOLE		285,090	0	0
Arcbest Corp.	COM	03937c105	1,240,969	13,298	SH		SOLE		13,298	0	0
BOK Financial Corp.	COM	05561q201	27,677	260	SH		SOLE		260	0	0
Banc of California, Inc.	COM	05990k106	681,199	44,062	SH		SOLE		44,062	0	0
Banc of California	PREF STK	05990k841	1,337,152	54,734	SH		SOLE		54,734	0	0
Bill.com Holdings Inc.	CONV BOND	090043AD2	442,500	500,000	PRN		SOLE		500,000	0	0
Blackline Corp.	CONV BOND	09239BAD1	468,834	500,000	PRN		SOLE		500,000	0	0
Brighthouse Financial, Inc.	COM	10922n103	2,224,108	46,297	SH		SOLE		46,297	0	0
Burke & Herbert Financial Services	COM	12135y108	2,699,659	43,292	SH		SOLE		43,292	0	0
Championx Corp	COM	15872m104	277,338	10,200	SH		SOLE		10,200	0	0
The Cheesecake Factory	CONV BOND	163072AA9	1,724,513	1,750,000	PRN		SOLE		1,750,000	0	0
Chesapeake Energy Corp. - Future Pmt	CONV BOND	165ESCAC8	7,659	2,553,000	PRN		SOLE		2,553,000	0	0
Cisco Systems, Inc.	COM	17275r102	752,610	12,713	SH		SOLE		12,713	0	0
Cloudfare Inc.	CONV BOND	18915MAC1	478,000	500,000	PRN		SOLE		500,000	0	0
ConocoPhillips	COM	20825c104	142,732	1,439	SH		SOLE		1,439	0	0
Coupa Software Inc.	CONV BOND	22266LAF3	487,499	500,000	PRN		SOLE		500,000	0	0
Customers Bancorp, Inc.	COM	23204g100	847,275	17,405	SH		SOLE		17,405	0	0
DR Horton Inc.	COM	23331a109	20,973	150	SH		SOLE		150	0	0
Datadog Inc.	CONV BOND	23804LAB9	1,161,000	750,000	PRN		SOLE		750,000	0	0
Delek Logistics Partners, LP	COM	24664t103	1,414,442	33,470	SH		SOLE		33,470	0	0
Devon Energy Corporation	COM	25179m103	99,892	3,052	SH		SOLE		3,052	0	0
EOG Resources Inc	COM	26875p101	24,516	200	SH		SOLE		200	0	0
EQT Corp	COM	26884l109	32,291	700	SH		SOLE		700	0	0
US Global Jets ETF	COM	26922A842	68,775	2,713	SH		SOLE		2,713	0	0
Eagle Bancorp Montana Inc	COM	26942g100	395,729	25,814	SH		SOLE		25,814	0	0
Energy Transfer LP	COM	29273v100	3,591,948	183,356	SH		SOLE		183,356	0	0
EnLink Midstream LLC	COM	29336t100	2,175,000	153,710	SH		SOLE		153,710	0	0
Essa Bancorp Inc.	COM	29667d104	1,143,792	58,656	SH		SOLE		58,656	0	0
Eventbrite Inc.	CONV BOND	29975EAB5	1,463,267	1,485,000	PRN		SOLE		1,485,000	0	0
EZCorp Inc	CONV BOND	302301AE6	1,295,060	1,301,000	PRN		SOLE		1,301,000	0	0
Exxon Mobil Corporation	COM	30231g102	453,134	4,212	SH		SOLE		4,212	0	0
FARO Technolgies,Inc.	CONV BOND	311642AB8	1,469,105	1,497,000	PRN		SOLE		1,497,000	0	0
FinVolution Group - ADR	COM	31810T101	72,089	10,617	SH		SOLE		10,617	0	0
First United Corp	COM	33741h107	1,988,081	58,976	SH		SOLE		58,976	0	0
First US Bancshares Inc	COM	33744v103	702,598	55,806	SH		SOLE		55,806	0	0
Five9, Inc	CONV BOND	338307AD3	484,700	500,000	PRN		SOLE		500,000	0	0
Forum Energy Technologies	CONV BOND	34984VAC4	19,250	19,250	PRN		SOLE		19,250	0	0
GE Healthcare Technologies Inc	COM	36266G107	47,221	604	SH		SOLE		604	0	0
GE Vernova Inc	COM	36828a101	139,466	424	SH		SOLE		424	0	0
The Goldman Sachs Group, Inc.	COM	38141g104	5,008,707	8,747	SH		SOLE		8,747	0	0
Hallador Energy	COM	40609p105	47,689	4,165	SH		SOLE		4,165	0	0
Hertz Global Holdings WTS 6/30/2051	WARRANT	42806j148	216,666	100,775	SH		SOLE		100,775	0	0
Hertz Global Holdings, Inc.	COM	42806j700	812,798	222,076	SH		SOLE		222,076	0	0
Homestreet Inc.	COM	43785u102	2,581,068	226,013	SH		SOLE		226,013	0	0
Hope Bancorp, Inc.	COM	43940t109	869,886	70,780	SH		SOLE		70,780	0	0
Innoviva, Inc.	CONV BOND	45781MAD3	1,122,499	1,207,000	PRN		SOLE		1,207,000	0	0
Iridium Communications Inc.	COM	46269c102	44,343	1,528	SH		SOLE		1,528	0	0
iShares MSCI Emerging Markets ETF	COM	46434g764	1,237,900	22,325	SH		SOLE		22,325	0	0
iShares Convertible Bond ETF	COM	46435G102	128,736	1,515	SH		SOLE		1,515	0	0
JPMorgan Chase & Co.	COM	46625h100	2,760,261	11,515	SH		SOLE		11,515	0	0
Jackson Financial	COM	46817M107	1,587,904	18,235	SH		SOLE		18,235	0	0
Jackson Financial Preferred	PREF STK	46817M206	57,552	2,200	SH		SOLE		2,200	0	0
Jetblue Airways	CONV BOND	477143AP6	2,518,163	2,715,000	PRN		SOLE		2,715,000	0	0
Kimball Electronics Inc	COM	49428j109	1,154,555	61,642	SH		SOLE		61,642	0	0
Kinder Morgan, Inc.	COM	49456b101	1,388,021	50,658	SH		SOLE		50,658	0	0
Kratos Defense & Security Solutions	COM	50077b207	26,380	1,000	SH		SOLE		1,000	0	0
LCI Industries	CONV BOND	501812AB7	1,196,851	1,220,000	PRN		SOLE		1,220,000	0	0
LGI Homes Inc.	COM	50187t106	766,247	8,571	SH		SOLE		8,571	0	0
MPLX, L.P.	COM	55336v100	3,870,059	80,862	SH		SOLE		80,862	0	0
Macy's, Inc.	COM	55616p104	59,255	3,500	SH		SOLE		3,500	0	0
Sphere Entertainment Company	COM	55826T102	39,191	972	SH		SOLE		972	0	0
Mastercard Inc.	COM	57636q104	226,952	431	SH		SOLE		431	0	0
Merck & Co. Inc.	COM	58933y105	1,043,346	10,488	SH		SOLE		10,488	0	0
Meritage Homes Corporation	COM	59001a102	30,764	200	SH		SOLE		200	0	0
NETGEAR Inc.	COM	64111Q104	1,336,589	47,958	SH		SOLE		47,958	0	0
Flagstar Financial, Inc	CONV PREF	64944p307	1,995,701	49,592	SH		SOLE		49,592	0	0
Nextera Energy	COM	65341b106	658,493	36,994	SH		SOLE		36,994	0	0
Nextera Energy, Inc.	COM	65399f101	536,313	7,481	SH		SOLE		7,481	0	0
Nvidia Corp.	COM	67066g104	3,854,524	28,703	SH		SOLE		28,703	0	0
Okta Inc.	CONV BOND	679295AF2	463,752	500,000	PRN		SOLE		500,000	0	0
Oracle Corporation	COM	68389x105	498,420	2,991	SH		SOLE		2,991	0	0
Pacer US Small Cap Cash Cows 1	COM	69374H857	39,521	898	SH		SOLE		898	0	0
Palantir Technologies	COM	69608a109	1,106,089	14,625	SH		SOLE		14,625	0	0
Peoples Financial Corp.	COM	71103b102	901,654	48,476	SH		SOLE		48,476	0	0
Pinterest Inc	COM	72352l106	28,594	986	SH		SOLE		986	0	0
Plains GP Holdings, L.P.	COM	72651a207	87,618	4,767	SH		SOLE		4,767	0	0
Primis Financial Corp.	COM	74167b109	795,399	68,216	SH		SOLE		68,216	0	0
ProShares S&P 500 Dividend Aristocrat ETF	COM	74348a467	260,972	2,622	SH		SOLE		2,622	0	0
Providient Financial Services	COM	74386T105	218,198	11,563	SH		SOLE		11,563	0	0
QCR Holdings Inc.	COM	74727a104	179,183	2,222	SH		SOLE		2,222	0	0
Rayonier Advanced Materials	COM	75508b104	52,792	6,399	SH		SOLE		6,399	0	0
SB Financial Group, Inc.	COM	78408d105	3,280,726	156,897	SH		SOLE		156,897	0	0
SPDR S&P 600 Small Cap Value ETF	COM	78464a300	651,845	7,471	SH		SOLE		7,471	0	0
SPDR Dow Jones Industrial Average	COM	78467x109	10,964,119	25,768	SH		SOLE		25,768	0	0
SSR Mining Inc.	CONV BOND	784730AB9	2,431,330	2,530,000	PRN		SOLE		2,530,000	0	0
salesforce.com, inc.	COM	79466l302	2,751,202	8,229	SH		SOLE		8,229	0	0
SandRidge Energy, Inc.	COM	80007p869	54,334	4,640	SH		SOLE		4,640	0	0
Shake Shack Inc	CONV BOND	819047AB7	1,815,903	1,765,000	PRN		SOLE		1,765,000	0	0
Shenandoah Telecommunications Company	COM	83212B106	38,082	3,020	SH		SOLE		3,020	0	0
Sounds Financial Banc	COM	83607a100	405,879	7,709	SH		SOLE		7,709	0	0
Sprouts Farmers Market, Inc.	COM	85208M102	63,535	500	SH		SOLE		500	0	0
Sterling Bancorp Inc. of Michigan	COM	85917w102	357,257	75,054	SH		SOLE		75,054	0	0
Talos Energy, Inc.	COM	87484t108	1,173,793	120,885	SH		SOLE		120,885	0	0
Targa Resources Corp	COM	87612g101	6,044,096	33,860	SH		SOLE		33,860	0	0
3M Co.	COM	88579y101	1,112,885	8,621	SH		SOLE		8,621	0	0
Truist Financial Corp	COM	89832q109	586,498	13,520	SH		SOLE		13,520	0	0
Uber Technologies Inc	COM	90353t100	44,094	731	SH		SOLE		731	0	0
UnitedHealth Group Inc	COM	91324p102	4,529,470	8,954	SH		SOLE		8,954	0	0
Uniti Group Inc.	COM	91325v108	31,900	5,800	SH		SOLE		5,800	0	0
Vaalco Energy Inc.	COM	91851c201	896,361	205,117	SH		SOLE		205,117	0	0
Verizon Communications Inc.	COM	92343v104	463,124	11,581	SH		SOLE		11,581	0	0
Visa Inc. Class A	COM	92826c839	2,734,378	8,652	SH		SOLE		8,652	0	0
Vishay Intertechnology	CONV BOND	928298AP3	1,776,929	1,805,000	PRN		SOLE		1,805,000	0	0
Western Midstream Partners	COM	95825r103	2,561,782	66,661	SH		SOLE		66,661	0	0
WisdomTree Investments	CONV BOND	97717PAD6	1,931,416	1,715,000	PRN		SOLE		1,715,000	0	0
Zillow Group Inc.	CONV BOND	98954MAH4	1,889,341	1,635,000	PRN		SOLE		1,635,000	0	0
ZScaler, Inc.	CONV BOND	98980GAB8	930,375	750,000	PRN		SOLE		750,000	0	0
Deutscha Bank	COM	d18190898	424,545	24,900	SH		SOLE		24,900	0	0
Bunge Ltd.	COM	g16962105	461,894	5,940	SH		SOLE		5,940	0	0
McDermott Warrants A	WARRANT	G5924V114	652	65,197	SH		SOLE		65,197	0	0
McDermott Warrants B	WARRANT	G5924V122	724	72,441	SH		SOLE		72,441	0	0
Adecoagro SA	COM	L00849106	49,083	5,205	SH		SOLE		5,205	0	0
AerCap Holdings NV	COM	n00985106	34,739	363	SH		SOLE		363	0	0
Expro Group Holdings NV	COM	n3144w105	838,971	67,279	SH		SOLE		67,279	0	0
Costamare Inc	COM	y1771g102	40,735	3,170	SH		SOLE		3,170	0	0
Danaos Corp.	COM	y1968p121	80,951	1,011	SH		SOLE		1,011	0	0
Genco Shipping & Trading Ltd.	COM	y2685t131	43,214	3,100	SH		SOLE		3,100	0	0
Global Ship Lease Inc Class A	COM	Y27183600	73,327	3,359	SH		SOLE		3,359	0	0
International Seaways Inc	COM	y41053102	20,701	576	SH		SOLE		576	0	0
Navios Maritime Partners L.P.	COM	y62267102	2,847,571	65,779	SH		SOLE		65,779	0	0
Stealthgas	COM	y81669106	63,551	11,248	SH		SOLE		11,248	0	0
Teekay Inc.	COM	y8564w103	69,494	10,028	SH		SOLE		10,028	0	0
Teekay Tankers Ltd.	COM	y8565n102	60,083	1,510	SH		SOLE		1,510	0	0