# WHITE PINE CAPITAL LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1137429. Source: https://holderbook.com/funds/1137429-white-pine-capital-llc/

- Reported value: $423.2M
- Positions: 240
- Weight of the ten largest: 23.3%
- Filed: 2026-08-05

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| 3M CO | [MMM](https://holderbook.com/stocks/MMM/) | $15.8M | 97,443 | 3.7% | 34 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $14.9M | 51,475 | 3.5% | 34 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $12.0M | 15,977 | 2.8% | 34 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $11.4M | 30,462 | 2.7% | 34 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $9.6M | 26,885 | 2.3% | 34 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $7.2M | 19,388 | 1.7% | 21 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $7.2M | 9,611 | 1.7% | 34 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $7.1M | 12,238 | 1.7% | 14 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $7.1M | 29,801 | 1.7% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $6.5M | 25,431 | 1.5% | 34 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $6.3M | 19,172 | 1.5% | 34 |
| CECO ENVIRONMENTAL CORP | [CECO](https://holderbook.com/stocks/CECO/) | $5.6M | 61,372 | 1.3% | 34 |
| STANDEX INTL CORP | [SXI](https://holderbook.com/stocks/SXI/) | $5.3M | 14,781 | 1.2% | 25 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $5.1M | 13,821 | 1.2% | 34 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $5.1M | 14,798 | 1.2% | 34 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $4.9M | 24,735 | 1.2% | 14 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $4.8M | 42,794 | 1.1% | 34 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $4.4M | 12,561 | 1.0% | 34 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $4.4M | 34,201 | 1.0% | 34 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $4.2M | 35,937 | 1.0% | 34 |
| ASTRONICS CORP | [ATRO](https://holderbook.com/stocks/ATRO/) | $4.1M | 50,391 | 1.0% | 34 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $4.1M | 14,492 | 1.0% | 34 |
| MAXLINEAR INC | [MXL](https://holderbook.com/stocks/MXL/) | $4.0M | 31,162 | 0.9% | 6 |
| ISHARES TR | [PFF](https://holderbook.com/stocks/PFF/) | $3.9M | 127,304 | 0.9% | 34 |
| ADTRAN HOLDINGS INC | [ADTN](https://holderbook.com/stocks/ADTN/) | $3.9M | 279,072 | 0.9% | 11 |
| ISHARES TR | [FLOT](https://holderbook.com/stocks/FLOT/) | $3.7M | 73,315 | 0.9% | 34 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $3.6M | 25,508 | 0.8% | 34 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $3.5M | 42,834 | 0.8% | 34 |
| SPDR SERIES TRUST | [SPYD](https://holderbook.com/stocks/SPYD/) | $3.5M | 73,626 | 0.8% | 28 |
| EQUINIX INC | [EQIX](https://holderbook.com/stocks/EQIX/) | $3.4M | 3,215 | 0.8% | 34 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $3.3M | 31,548 | 0.8% | 34 |
| AXT INC | [AXTI](https://holderbook.com/stocks/AXTI/) | $3.3M | 45,288 | 0.8% | 30 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $3.2M | 15,485 | 0.8% | 34 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $3.2M | 9,779 | 0.8% | 34 |
| INDEPENDENT BK CORP MASS | [INDB](https://holderbook.com/stocks/INDB/) | $3.2M | 38,160 | 0.8% | 4 |
| GENIUS SPORTS LIMITED | [GENI](https://holderbook.com/stocks/GENI/) | $3.2M | 525,215 | 0.8% | 16 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $3.2M | 2,692 | 0.7% | 10 |
| EMERSON ELEC CO | [EMR](https://holderbook.com/stocks/EMR/) | $3.1M | 21,585 | 0.7% | 34 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $3.0M | 21,420 | 0.7% | 34 |
| ELECTROMED INC | [ELMD](https://holderbook.com/stocks/ELMD/) | $3.0M | 70,000 | 0.7% | 34 |
| ARLO TECHNOLOGIES INC | [ARLO](https://holderbook.com/stocks/ARLO/) | $2.9M | 218,648 | 0.7% | 8 |
| ECOLAB INC | [ECL](https://holderbook.com/stocks/ECL/) | $2.8M | 10,061 | 0.7% | 34 |
| TENNANT CO | [TNC](https://holderbook.com/stocks/TNC/) | $2.8M | 31,876 | 0.7% | 34 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $2.8M | 16,827 | 0.7% | 34 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $2.6M | 4,670 | 0.6% | 12 |
| KEARNY FINL CORP MD | [KRNY](https://holderbook.com/stocks/KRNY/) | $2.6M | 277,770 | 0.6% | 24 |
| POSTAL REALTY TRUST INC | [PSTL](https://holderbook.com/stocks/PSTL/) | $2.5M | 103,277 | 0.6% | 9 |
| TRISALUS LIFE SCIENCES INC | [TLSI](https://holderbook.com/stocks/TLSI/) | $2.5M | 547,577 | 0.6% | 4 |
| ISHARES TR | [IWR](https://holderbook.com/stocks/IWR/) | $2.5M | 22,365 | 0.6% | 34 |
| AMBARELLA INC | [AMBA](https://holderbook.com/stocks/AMBA/) | $2.5M | 28,652 | 0.6% | 34 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $2.5M | 43,088 | 0.6% | 34 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $2.5M | 17,926 | 0.6% | 34 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $2.4M | 17,882 | 0.6% | 34 |
| MITEK SYS INC | [MITK](https://holderbook.com/stocks/MITK/) | $2.4M | 119,933 | 0.6% | 34 |
| FULL HSE RESORTS INC | [FLL](https://holderbook.com/stocks/FLL/) | $2.4M | 850,573 | 0.6% | 34 |
| SPDR SERIES TRUST | [SPYG](https://holderbook.com/stocks/SPYG/) | $2.3M | 19,499 | 0.5% | 14 |
| WESTERN NEW ENG BANCORP INC | [WNEB](https://holderbook.com/stocks/WNEB/) | $2.2M | 156,442 | 0.5% | 22 |
| RADNET INC | [RDNT](https://holderbook.com/stocks/RDNT/) | $2.2M | 35,726 | 0.5% | 34 |
| INFUSYSTEM HLDGS INC | [INFU](https://holderbook.com/stocks/INFU/) | $2.2M | 225,634 | 0.5% | 34 |
| ARTERIS INC | [AIP](https://holderbook.com/stocks/AIP/) | $2.2M | 44,625 | 0.5% | 8 |
| NEOGENOMICS INC | [NEO](https://holderbook.com/stocks/NEO/) | $2.2M | 148,539 | 0.5% | 11 |
| NATURAL GAS SVCS GROUP INC | [NGS](https://holderbook.com/stocks/NGS/) | $2.1M | 48,615 | 0.5% | 17 |
| ALLSTATE CORP | [ALL](https://holderbook.com/stocks/ALL/) | $2.1M | 8,767 | 0.5% | 34 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $2.0M | 9,450 | 0.5% | 34 |
| RAYMOND JAMES FINL INC | [RJF](https://holderbook.com/stocks/RJF/) | $2.0M | 13,429 | 0.5% | 34 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $2.0M | 47,901 | 0.5% | 34 |
| LIMONEIRA CO | [LMNR](https://holderbook.com/stocks/LMNR/) | $2.0M | 154,404 | 0.5% | 28 |
| EATON VANCE SR FLTNG RTE TR | [EFR](https://holderbook.com/stocks/EFR/) | $2.0M | 191,126 | 0.5% | 34 |
| AXOGEN INC | [AXGN](https://holderbook.com/stocks/AXGN/) | $2.0M | 43,238 | 0.5% | 19 |
| ILLINOIS TOOL WKS INC | [ITW](https://holderbook.com/stocks/ITW/) | $1.9M | 7,167 | 0.5% | 34 |
| SOLVENTUM CORP | [SOLV](https://holderbook.com/stocks/SOLV/) | $1.9M | 24,898 | 0.5% | 10 |
| ISHARES TR | [IVE](https://holderbook.com/stocks/IVE/) | $1.9M | 8,418 | 0.5% | 33 |
| ANGIODYNAMICS INC | [ANGO](https://holderbook.com/stocks/ANGO/) | $1.9M | 144,464 | 0.4% | 8 |
| ISHARES TR | [IVW](https://holderbook.com/stocks/IVW/) | $1.9M | 13,492 | 0.4% | 22 |
| AVIDIA BANCORP INC | [AVBC](https://holderbook.com/stocks/AVBC/) | $1.8M | 86,705 | 0.4% | 3 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $1.8M | 19,645 | 0.4% | 34 |
| STRAWBERRY FIELDS REIT INC | [STRW](https://holderbook.com/stocks/STRW/) | $1.8M | 128,829 | 0.4% | 7 |
| TARGET CORP | [TGT](https://holderbook.com/stocks/TGT/) | $1.8M | 13,523 | 0.4% | 34 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $1.8M | 12,034 | 0.4% | 34 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $1.8M | 84,561 | 0.4% | 34 |
| SPDR SERIES TRUST | [SDY](https://holderbook.com/stocks/SDY/) | $1.7M | 11,434 | 0.4% | 34 |
| ISHARES U S ETF TR | [NEAR](https://holderbook.com/stocks/NEAR/) | $1.7M | 34,252 | 0.4% | 25 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $1.7M | 11,784 | 0.4% | 34 |
| DONALDSON INC | [DCI](https://holderbook.com/stocks/DCI/) | $1.7M | 19,145 | 0.4% | 34 |
| SITIME CORP | [SITM](https://holderbook.com/stocks/SITM/) | $1.7M | 2,296 | 0.4% | 14 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $1.7M | 4,041 | 0.4% | 29 |
| CORE MOLDING TECHNOLOGIES IN | [CMT](https://holderbook.com/stocks/CMT/) | $1.7M | 70,977 | 0.4% | 7 |
| VIAVI SOLUTIONS INC | [VIAV](https://holderbook.com/stocks/VIAV/) | $1.6M | 34,473 | 0.4% | 9 |
| LEGACY ED INC | [LGCY](https://holderbook.com/stocks/LGCY/) | $1.6M | 139,596 | 0.4% | 8 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $1.6M | 22,888 | 0.4% | 9 |
| SPDR SERIES TRUST | [SPYV](https://holderbook.com/stocks/SPYV/) | $1.6M | 26,046 | 0.4% | 21 |
| XCEL ENERGY INC | [XEL](https://holderbook.com/stocks/XEL/) | $1.6M | 19,525 | 0.4% | 34 |
| INVESCO EXCH TRADED FD TR II | [PGX](https://holderbook.com/stocks/PGX/) | $1.5M | 142,003 | 0.4% | 33 |
| COHERENT CORP | [COHR](https://holderbook.com/stocks/COHR/) | $1.5M | 3,809 | 0.4% | 8 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $1.5M | 7,827 | 0.4% | 25 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $1.5M | 5,443 | 0.3% | 34 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $1.4M | 5,717 | 0.3% | 34 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $1.4M | 3,391 | 0.3% | 19 |
| ISHARES TR | [SUB](https://holderbook.com/stocks/SUB/) | $1.4M | 12,784 | 0.3% | 7 |
| SHAKE SHACK INC | [SHAK](https://holderbook.com/stocks/SHAK/) | $1.3M | 24,079 | 0.3% | 14 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +16.6% | +14.8% | +1.8% | 100% |
| Q1 2026 | +3.4% | -4.6% | +8.0% | 100% |
| Q4 2025 | +5.1% | +2.4% | +2.7% | 100% |
| Q3 2025 | +10.0% | +7.8% | +2.2% | 100% |
| Q2 2025 | +7.5% | +10.5% | -3.0% | 100% |
| Q1 2025 | -3.5% | -4.6% | +1.1% | 100% |
| Q4 2024 | +2.2% | +2.1% | +0.0% | 100% |
| Q3 2024 | +7.1% | +5.4% | +1.6% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $423.2M | 240 |
| Q1 2026 | $723.0M | 231 |
| Q4 2025 | $363.4M | 219 |
| Q3 2025 | $349.2M | 225 |
| Q2 2025 | $315.1M | 221 |
| Q1 2025 | $288.7M | 225 |
| Q4 2024 | $296.8M | 218 |
| Q3 2024 | $292.7M | 215 |
| Q2 2024 | $263.9M | 210 |
| Q1 2024 | $262.9M | 211 |
| Q4 2023 | $259.5M | 202 |
| Q3 2023 | $249.2M | 206 |