# White Pine Investment CO

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1318259. Source: https://holderbook.com/funds/1318259-white-pine-investment-co/

- Reported value: $469.2M
- Positions: 72
- Weight of the ten largest: 36.9%
- Filed: 2026-07-20

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 |
|---|---|---|---|---|---|
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $33.9M | 67,732 | 7.2% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $28.2M | 79,021 | 6.0% | 31 |
| SCHWAB STRATEGIC TR | [FNDX](https://holderbook.com/stocks/FNDX/) | $19.2M | 617,762 | 4.1% | 31 |
| GOLDMAN SACHS ETF TR | [GSIE](https://holderbook.com/stocks/GSIE/) | $16.9M | 369,545 | 3.6% | 31 |
| VANECK ETF TRUST | [FLTR](https://holderbook.com/stocks/FLTR/) | $14.7M | 575,230 | 3.1% | 29 |
| ISHARES TR | [USMV](https://holderbook.com/stocks/USMV/) | $12.5M | 129,782 | 2.7% | 27 |
| VANECK ETF TRUST | [GDX](https://holderbook.com/stocks/GDX/) | $12.2M | 161,208 | 2.6% | 31 |
| ISHARES TR | [IJK](https://holderbook.com/stocks/IJK/) | $11.9M | 101,317 | 2.5% | 8 |
| JANUS DETROIT STR TR | [JAAA](https://holderbook.com/stocks/JAAA/) | $11.9M | 235,578 | 2.5% | 4 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $11.8M | 40,922 | 2.5% | 31 |
| SCHWAB STRATEGIC TR | [SCHR](https://holderbook.com/stocks/SCHR/) | $11.7M | 474,217 | 2.5% | 6 |
| MARATHON PETE CORP | [MPC](https://holderbook.com/stocks/MPC/) | $11.4M | 44,610 | 2.4% | 31 |
| SCHWAB STRATEGIC TR | [SCHV](https://holderbook.com/stocks/SCHV/) | $11.4M | 326,384 | 2.4% | 27 |
| PIMCO ETF TR | [PYLD](https://holderbook.com/stocks/PYLD/) | $11.2M | 421,294 | 2.4% | 2 |
| ISHARES TR | [TIP](https://holderbook.com/stocks/TIP/) | $10.9M | 99,847 | 2.3% | 31 |
| GOLDMAN SACHS ETF TR | [JUST](https://holderbook.com/stocks/JUST/) | $10.8M | 101,530 | 2.3% | 30 |
| WISDOMTREE TR | [DON](https://holderbook.com/stocks/DON/) | $10.0M | 177,549 | 2.1% | 30 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $10.0M | 13,583 | 2.1% | 15 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $9.5M | 25,547 | 2.0% | 31 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $9.4M | 28,657 | 2.0% | 31 |
| SCHWAB STRATEGIC TR | [SCHM](https://holderbook.com/stocks/SCHM/) | $9.2M | 250,309 | 2.0% | 8 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $9.2M | 44,110 | 2.0% | 31 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $8.9M | 15,756 | 1.9% | 25 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $8.9M | 59,794 | 1.9% | 30 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $8.8M | 36,724 | 1.9% | 30 |
| ISHARES TR | [ILCG](https://holderbook.com/stocks/ILCG/) | $8.7M | 74,336 | 1.9% | 20 |
| GOLDMAN SACHS ETF TR | [GIGB](https://holderbook.com/stocks/GIGB/) | $8.6M | 187,378 | 1.8% | 23 |
| AMERICAN CENTY ETF TR | [AVUV](https://holderbook.com/stocks/AVUV/) | $8.2M | 66,063 | 1.8% | 10 |
| DBX ETF TR | [HDEF](https://holderbook.com/stocks/HDEF/) | $7.9M | 245,428 | 1.7% | 15 |
| AMERICAN CENTY ETF TR | [AVLV](https://holderbook.com/stocks/AVLV/) | $7.7M | 84,938 | 1.7% | 5 |
| ISHARES TR | [IEF](https://holderbook.com/stocks/IEF/) | $7.7M | 81,884 | 1.7% | 31 |
| WISDOMTREE TR | [DGRW](https://holderbook.com/stocks/DGRW/) | $7.2M | 75,688 | 1.5% | 17 |
| ISHARES TR | [EFG](https://holderbook.com/stocks/EFG/) | $7.1M | 56,823 | 1.5% | 9 |
| AMERICAN CENTY ETF TR | [AVEM](https://holderbook.com/stocks/AVEM/) | $7.0M | 72,436 | 1.5% | 4 |
| CANADIAN NATL RY CO | [CNI](https://holderbook.com/stocks/CNI/) | $6.3M | 53,065 | 1.3% | 26 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $6.1M | 69,563 | 1.3% | 5 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $6.0M | 35,982 | 1.3% | 31 |
| SPROUTS FMRS MKT INC | [SFM](https://holderbook.com/stocks/SFM/) | $5.6M | 65,909 | 1.2% | 22 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $5.5M | 27,734 | 1.2% | 5 |
| FIRST TR EXCHANGE TRADED FD | [FIW](https://holderbook.com/stocks/FIW/) | $5.4M | 49,314 | 1.2% | 16 |
| LABCORP HOLDINGS INC | [LH](https://holderbook.com/stocks/LH/) | $5.0M | 17,900 | 1.1% | 9 |
| ALPS ETF TR | [AMLP](https://holderbook.com/stocks/AMLP/) | $4.8M | 93,412 | 1.0% | 16 |
| DIREXION SHARES ETF TRUST | [QQQE](https://holderbook.com/stocks/QQQE/) | $4.8M | 38,934 | 1.0% | 22 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $3.6M | 84,509 | 0.8% | 25 |
| SELECT SECTOR SPDR TR | [XLI](https://holderbook.com/stocks/XLI/) | $2.1M | 11,465 | 0.5% | 7 |
| SELECT SECTOR SPDR TR | [XLE](https://holderbook.com/stocks/XLE/) | $2.1M | 38,970 | 0.4% | 8 |
| HONEYWELL INTL INC | [HON](https://holderbook.com/stocks/HON/) | $2.0M | 8,954 | 0.4% | 1 |
| HONEYWELL AEROSPACE INC | [HONA](https://holderbook.com/stocks/HONA/) | $2.0M | 8,925 | 0.4% | 1 |
| SCHWAB STRATEGIC TR | [SCHF](https://holderbook.com/stocks/SCHF/) | $1.7M | 62,128 | 0.4% | 31 |
| PAYPAL HLDGS INC | [PYPL](https://holderbook.com/stocks/PYPL/) | $1.6M | 36,443 | 0.3% | 26 |
| SPDR SERIES TRUST | [XAR](https://holderbook.com/stocks/XAR/) | $1.2M | 4,358 | 0.3% | 1 |
| PAYCHEX INC | [PAYX](https://holderbook.com/stocks/PAYX/) | $979.0K | 9,953 | 0.2% | 9 |
| ENTERPRISE PRODS PARTNERS L | [EPD](https://holderbook.com/stocks/EPD/) | $848.0K | 23,080 | 0.2% | 16 |
| SELECT SECTOR SPDR TR | [XLU](https://holderbook.com/stocks/XLU/) | $748.0K | 16,501 | 0.2% | 5 |
| LATTICE STRATEGIES TR | [RODM](https://holderbook.com/stocks/RODM/) | $733.0K | 18,129 | 0.2% | 31 |
| MARSH & MCLENNAN COS INC | [MRSH](https://holderbook.com/stocks/MRSH/) | $486.0K | 2,914 | 0.1% | 9 |
| PIMCO ETF TR | [MINT](https://holderbook.com/stocks/MINT/) | $482.0K | 4,782 | 0.1% | 25 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $419.0K | 1,650 | 0.1% | 31 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $412.0K | 1,841 | 0.1% | 31 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $400.0K | 4,024 | 0.1% | 1 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $341.0K | 1,792 | 0.1% | 10 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $331.0K | 1,315 | 0.1% | 19 |
| FORD MTR CO | [F](https://holderbook.com/stocks/F/) | $328.0K | 23,593 | 0.1% | 31 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $299.0K | 711 | 0.1% | 10 |
| DTE ENERGY CO | [DTE](https://holderbook.com/stocks/DTE/) | $255.0K | 1,673 | 0.1% | 6 |
| ROCKWELL AUTOMATION INC | [ROK](https://holderbook.com/stocks/ROK/) | $248.0K | 500 | 0.1% | 1 |
| SOLSTICE ADVANCED MATLS INC | [SOLS](https://holderbook.com/stocks/SOLS/) | $223.0K | 2,513 | 0.0% | 3 |
| SCHWAB STRATEGIC TR | [SCHB](https://holderbook.com/stocks/SCHB/) | $222.0K | 7,667 | 0.0% | 31 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $216.0K | 2,114 | 0.0% | 1 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $208.0K | 480 | 0.0% | 1 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $208.0K | 660 | 0.0% | 11 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $204.0K | 1,734 | 0.0% | 1 |

## 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 | +7.3% | +14.8% | -7.6% | 100% |
| Q1 2026 | -0.2% | -4.6% | +4.4% | 100% |
| Q4 2025 | +1.2% | +2.4% | -1.2% | 100% |
| Q3 2025 | +5.4% | +7.8% | -2.4% | 100% |
| Q2 2025 | +5.8% | +10.5% | -4.6% | 100% |
| Q1 2025 | +0.7% | -4.6% | +5.3% | 100% |
| Q4 2024 | -0.3% | +2.1% | -2.5% | 100% |
| Q3 2024 | +6.3% | +5.4% | +0.8% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $469.2M | 72 |
| Q1 2026 | $430.4M | 67 |
| Q4 2025 | $424.4M | 68 |
| Q3 2025 | $421.5M | 67 |
| Q2 2025 | $400.6M | 65 |
| Q1 2025 | $371.4M | 64 |
| Q4 2024 | $370.2M | 66 |
| Q3 2024 | $364.5M | 64 |
| Q2 2024 | $340.3M | 63 |
| Q1 2024 | $338.6M | 63 |
| Q4 2023 | $309.9M | 60 |
| Q3 2023 | $284.5M | 59 |