White Pine Capital LLC
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 12, 2024), White Pine Capital LLC reported 215 stock positions worth $292.7 million. Its top holding was 3M (MMM) at 4.6% of the portfolio, followed by Microsoft (MSFT, 4.5%) and Apple (AAPL, 4.3%). Compared with Q2 2024, it opened 12 new positions, sold out of 7, added to 107 and reduced 66. The biggest buy was Adtran (ADTN, shares +114%) and the biggest sale an exit from Surmodics (SRDX).
- Most Recent 13F
- Q2 2026
- Location
- BLOOMINGTON, MN
- CIK
- 0001137429
- Portfolio Value
- $292.7M (Q3 2024)
- SEC Filing
- 0001137429-24-000005 ↗ filed Nov 12, 2024
Holdings Value
Holdings 215 stocks · $292.7M
| MMM 3M Co. | 4.57% | 97,863 | $13.4M | Reduce -0.1% |
| MSFT Microsoft Corp. | 4.46% | 30,338 | $13.1M | Add +0.2% |
| AAPL Apple Inc. | 4.29% | 53,847 | $12.5M | Add +0.5% |
| IVV iShares Core S&P 500 ETF | 2.74% | 13,881 | $8.0M | Add +3.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 2.05% | 10,465 | $6.0M | Add +0.2% |
| AMZN Amazon.com Inc. | 1.72% | 27,087 | $5.0M | Add +0.9% |
| FLOT iShares Floating Rate Bond E | 1.69% | 96,849 | $4.9M | Add +11.5% |
| XEFRX Eaton Vance Sr FLTG Rate TR | 1.59% | 364,713 | $4.7M | Add +32.7% |
| GOOGL Alphabet Inc. Class A | 1.52% | 26,743 | $4.4M | Add +0.6% |
| JNJ Johnson & Johnson | 1.47% | 26,486 | $4.3M | Reduce -1.8% |
| MRK Merck & Co. Inc. | 1.43% | 36,817 | $4.2M | Add +0.1% |
| V Visa Inc. Class A | 1.42% | 15,145 | $4.2M | Add +1.3% |
| PFF iShares Preferred & Income S | 1.37% | 120,644 | $4.0M | Add +5.6% |
| JPM JPMorgan Chase & Co. | 1.36% | 18,914 | $4.0M | Add +2.5% |
| GE General Electric filed as GE AEROSPACE | 1.26% | 19,559 | $3.7M | Add +0.5% |
| WMT Walmart Inc. | 1.12% | 40,705 | $3.3M | Add +2.7% |
| GLD SPDR Gold Shares | 1.12% | 13,514 | $3.3M | Add +0.1% |
| TGT Target Corp. | 1.12% | 21,034 | $3.3M | Reduce -0.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.10% | 14,630 | $3.2M | Reduce -0.8% |
| LMNR Limoneira Co. | 1.04% | 114,745 | $3.0M | Add +9.0% |
| SPYD SS SPDR P S&P 500 Hi Div ETF | 1.01% | 64,915 | $3.0M | Add +0.5% |
| PEP Pepsico Inc. | 1.00% | 17,215 | $2.9M | Reduce -0.2% |
| EQIX Equinix Inc. | 0.99% | 3,250 | $2.9M | Reduce -0.8% |
| CVX Chevron Corp. | 0.98% | 19,544 | $2.9M | Add +0.6% |
| SXI Standex International Corp. | 0.96% | 15,379 | $2.8M | Add +11.2% |
| ECL Ecolab Inc. | 0.90% | 10,299 | $2.6M | Add +1.1% |
| RDNT Radnet Inc. | 0.88% | 37,236 | $2.6M | Add +14.6% |
| EFA iShares MSCI Eafe ETF | 0.86% | 30,217 | $2.5M | Add +0.0% |
| EMR Emerson Electric Co. | 0.85% | 22,678 | $2.5M | Reduce -1.5% |
| WFC Wells Fargo & Co. | 0.83% | 42,920 | $2.4M | Reduce -0.9% |
| PGX Invesco Preferred ETF | 0.81% | 191,116 | $2.4M | Reduce -4.1% |
| TRV The Travelers Cos Inc. | 0.81% | 10,076 | $2.4M | Reduce -0.1% |
| GOOG Alphabet Inc. Class C | 0.80% | 13,946 | $2.3M | No change |
| GENI Genius Sports Ltd. | 0.77% | 286,736 | $2.2M | Add +6.2% |
| ABT Abbott Laboratories | 0.76% | 19,545 | $2.2M | Reduce -0.2% |
| XOM Exxon Mobil Corp. | 0.75% | 18,752 | $2.2M | Add +0.6% |
| HON Honeywell International Inc. | 0.73% | 10,400 | $2.1M | Add +0.5% |
| NVDA Nvidia Corp. | 0.73% | 17,618 | $2.1M | Add +7.8% |
| ATRO Astronics Corp. | 0.70% | 104,806 | $2.0M | Add +10.5% |
| VZ Verizon Communications Inc. | 0.68% | 44,250 | $2.0M | Reduce -13.4% |
| T AT&T Inc. | 0.63% | 83,538 | $1.8M | Reduce -16.9% |
| RJF Raymond James Financial Inc. | 0.63% | 14,938 | $1.8M | Add +0.0% |
| ALL Allstate Corp. | 0.62% | 9,636 | $1.8M | Add +0.6% |
| ITW Illinois Tool Works | 0.62% | 6,946 | $1.8M | Reduce -1.1% |
| ORCL Oracle Corp. | 0.61% | 10,490 | $1.8M | Reduce -0.4% |
| IWR iShares Russell Mid-Cap ETF | 0.60% | 19,954 | $1.8M | Add +13.6% |
| SOLV Solventum Corp. | 0.60% | 24,990 | $1.7M | Reduce -1.0% |
| CECO Ceco Environmental Corp. | 0.58% | 60,715 | $1.7M | Reduce -15.9% |
| AXGN Axogen Inc. | 0.58% | 121,382 | $1.7M | Add +4.4% |
| SDY SS SPDR S&P Dividend ETF | 0.58% | 11,895 | $1.7M | Add +3.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.58% | 42,569 | $1.7M | Add +2.3% |
| GIS General Mills Inc. | 0.57% | 22,624 | $1.7M | Reduce -0.1% |
| ADTN Adtran Holdings Inc. | 0.57% | 281,718 | $1.7M | Add +113.5% |
| PG The Procter & Gamble Co. | 0.55% | 9,304 | $1.6M | Add +2.8% |
| AXTI Axt Inc. | 0.55% | 663,253 | $1.6M | Add +45.9% |
| MS Morgan Stanley | 0.55% | 15,357 | $1.6M | Reduce -0.5% |
| IVW iShares S&P 500 Growth ETF | 0.53% | 16,174 | $1.5M | Add +0.9% |
| DCI Donaldson Co. Inc. | 0.53% | 20,897 | $1.5M | Reduce -0.5% |
| CSCO Cisco Systems Inc. | 0.53% | 28,931 | $1.5M | Reduce -4.8% |
| IVE iShares S&P 500 Value ETF | 0.52% | 7,651 | $1.5M | No change |
| MCD McDonald's Corp. | 0.49% | 4,685 | $1.4M | Add +0.8% |
| ROP Roper Technologies Inc. | 0.48% | 2,549 | $1.4M | Add +2.3% |
| WNEB Western New England Bancorp | 0.48% | 166,007 | $1.4M | Add +52.8% |
| SPYG SS SPDR P S&P 500 Growth ETF | 0.48% | 16,829 | $1.4M | Add +1.6% |
| META Meta Platforms Inc. Class A | 0.47% | 2,396 | $1.4M | Add +12.3% |
| EBC Eastern Bankshares Inc. | 0.46% | 82,652 | $1.4M | Add +58.2% |
| XEL Xcel Energy Inc. | 0.46% | 20,450 | $1.3M | Add +3.3% |
| C Citigroup Inc. | 0.45% | 20,906 | $1.3M | Reduce -0.2% |
| SWKS Skyworks Solutions Inc. | 0.44% | 12,974 | $1.3M | Reduce -0.1% |
| KVUE Kenvue Inc. | 0.43% | 54,030 | $1.2M | Reduce -0.9% |
| AUB Atlantic Union Bankshares Co. | 0.42% | 32,820 | $1.2M | Add +72.3% |
| TRNS Transcat Inc. | 0.41% | 9,980 | $1.2M | Add +30.6% |
| RBBN Ribbon Communications Inc. | 0.39% | 354,861 | $1.2M | Add +54.7% |
| HDV iShares Core High Dividend E | 0.39% | 9,750 | $1.1M | Add +0.2% |
| MDY State Street SPDR S&P Midcap | 0.39% | 1,990 | $1.1M | Add +1.4% |
| FLL Full House Resorts Inc. filed as FULL HSE RESORTS INC | 0.39% | 224,540 | $1.1M | Add +15.7% |
| ABBV Abbvie Inc. | 0.38% | 5,663 | $1.1M | No change |
| KHC The Kraft Heinz Co. | 0.38% | 31,570 | $1.1M | Reduce -5.3% |
| IWM iShares Russell 2000 ETF | 0.38% | 4,980 | $1.1M | Reduce -2.5% |
| BA The Boeing Co. | 0.37% | 7,198 | $1.1M | Reduce -3.7% |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.37% | 20,477 | $1.1M | Add +6.7% |
| AAOI Applied Optoelectronics Inc. | 0.37% | 75,338 | $1.1M | Add +145.9% |
| IUSV iShares Core S&P U.S. Value | 0.37% | 11,283 | $1.1M | Add +16.3% |
| PYPL PayPal Holdings Inc. | 0.36% | 13,498 | $1.1M | Add +0.2% |
| HRL Hormel Foods Corp. | 0.35% | 32,138 | $1.0M | Reduce -0.7% |
| ANGL Vaneck Fallen Angel High YLD | 0.35% | 34,460 | $1.0M | Add +15.6% |
| HLIT Harmonic Inc. | 0.35% | 69,398 | $1.0M | Reduce -11.0% |
| NEAR iShares SH Dba ETF Usd Inc. | 0.34% | 19,520 | $1.0M | Add +97.6% |
| HLMN Hillman Solutions Corp. | 0.34% | 94,303 | $996K | Add +19.7% |
| NGS Natural Gas Services Group | 0.34% | 51,748 | $989K | Add +31.5% |
| DHR Danaher Corp. | 0.33% | 3,437 | $956K | Add +4.3% |
| UNH Unitedhealth Group Inc. | 0.32% | 1,619 | $947K | Add +0.4% |
| RTX RTX Corp. | 0.32% | 7,782 | $943K | Add +0.1% |
| BMY Bristol-Myers Squibb Co. | 0.32% | 18,040 | $933K | Reduce -12.7% |
| XLE SS Energy Select Sector | 0.32% | 10,607 | $931K | Reduce -0.1% |
| QQQ Invesco QQQ Trust Series 1 | 0.32% | 1,895 | $925K | Add +11.9% |
| SITM Sitime Corp. | 0.31% | 5,291 | $907K | Add +21.9% |
| SPYV SS SPDR P S&P 500 Value ETF | 0.31% | 17,092 | $903K | No change |
| PNC PNC Financial Services Group | 0.30% | 4,825 | $892K | Reduce -0.4% |
| SPSM SS SPDR P S&P 600 Small Cap | 0.30% | 19,390 | $882K | Add +1.6% |
Portfolio Sells Q2 2024 → Q3 2024
| SRDX Surmodics Inc. | Sold out | 0.00% | −0.36 |
| ALNT Allient Inc. | Sold out | 0.00% | −0.34 |
| AVNW Aviat Networks Inc. | Reduce -53.1% | 0.12% | −0.26 |
| MXL Maxlinear Inc. | Sold out | 0.00% | −0.22 |
| CECO Ceco Environmental Corp. | Reduce -15.9% | 0.58% | −0.20 |
| EPD Enterprise Products Partners | Sold out | 0.00% | −0.18 |
| INTC Intel Corp. | Reduce -9.5% | 0.26% | −0.16 |
| WFC Wells Fargo & Co. | Reduce -0.9% | 0.83% | −0.15 |
| BA The Boeing Co. | Reduce -3.7% | 0.37% | −0.14 |
| ET Energy Transfer LP | Reduce -53.7% | 0.10% | −0.14 |
| VZ Verizon Communications Inc. | Reduce -13.4% | 0.68% | −0.12 |
| ENB Enbridge Inc. | Reduce -63.9% | 0.07% | −0.12 |
| EMR Emerson Electric Co. | Reduce -1.5% | 0.85% | −0.11 |
| CVS CVS Health Corp. | Reduce -46.4% | 0.11% | −0.11 |
| T AT&T Inc. | Reduce -16.9% | 0.63% | −0.10 |
| INFU Infusystem Holdings Inc. | Reduce -17.6% | 0.25% | −0.09 |
| IP International Paper Co. | Sold out | 0.00% | −0.09 |
| SWKS Skyworks Solutions Inc. | Reduce -0.1% | 0.44% | −0.09 |
| APA Apa Corp. | Sold out | 0.00% | −0.08 |
| TIP iShares Tips Bond ETF | Reduce -27.9% | 0.16% | −0.08 |
| PEP Pepsico Inc. | Reduce -0.2% | 1.00% | −0.08 |
| DLHC DLH Holdings Corp. | Reduce -35.4% | 0.08% | −0.07 |
| ANF Abercrombie & Fitch Co. Class A | Reduce -8.7% | 0.13% | −0.07 |
| PGX Invesco Preferred ETF | Reduce -4.1% | 0.81% | −0.07 |
| TGT Target Corp. | Reduce -0.5% | 1.12% | −0.07 |
| EB Eventbrite Inc. Class A | Sold out | 0.00% | −0.06 |
| C Citigroup Inc. | Reduce -0.2% | 0.45% | −0.06 |
| INOD Innodata Inc. | Reduce -30.3% | 0.13% | −0.05 |
| TNC Tennant Co. | Reduce -15.0% | 0.15% | −0.05 |
| XLE SS Energy Select Sector | Reduce -0.1% | 0.32% | −0.05 |
| PEB Pebblebrook Hotel Trust | Reduce -13.0% | 0.14% | −0.05 |
| KMI Kinder Morgan Inc. | Reduce -31.2% | 0.10% | −0.04 |
| DCI Donaldson Co. Inc. | Reduce -0.5% | 0.53% | −0.04 |
| EPRF Innovat S&P Invest GRD Pref | Reduce -15.7% | 0.12% | −0.03 |
| KHC The Kraft Heinz Co. | Reduce -5.3% | 0.38% | −0.03 |
| JNJ Johnson & Johnson | Reduce -1.8% | 1.47% | −0.03 |
| HRL Hormel Foods Corp. | Reduce -0.7% | 0.35% | −0.03 |
| MS Morgan Stanley | Reduce -0.5% | 0.55% | −0.02 |
| CSCO Cisco Systems Inc. | Reduce -4.8% | 0.53% | −0.02 |
| IWM iShares Russell 2000 ETF | Reduce -2.5% | 0.38% | −0.02 |
| IFF Intl Flavors & Fragrances | Reduce -10.4% | 0.13% | −0.02 |
| WINA Winmark Corp. | Reduce -4.3% | 0.22% | −0.01 |
| TU Telus Corp. | Reduce -8.3% | 0.15% | −0.01 |
| SHAK Shake Shack Inc. Class A | Reduce -9.5% | 0.17% | −0.01 |
| VWO Vanguard Ftse Emerging Marke | Reduce -3.7% | 0.21% | −0.01 |
| SPG Simon Property Group Inc. | Reduce -6.4% | 0.17% | −0.01 |
| ABT Abbott Laboratories | Reduce -0.2% | 0.76% | −0.01 |
| HEFA Isha Curr Hedged MSCI Eafe | Reduce -0.9% | 0.07% | −0.01 |
| ITW Illinois Tool Works | Reduce -1.1% | 0.62% | −0.01 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -4.6% | 0.11% | −0.01 |
Portfolio Buys Q2 2024 → Q3 2024
| ADTN Adtran Holdings Inc. | Add +113.5% | 0.57% | +0.31 |
| AAOI Applied Optoelectronics Inc. | Add +145.9% | 0.37% | +0.27 |
| AXGN Axogen Inc. | Add +4.4% | 0.58% | +0.26 |
| XEFRX Eaton Vance Sr FLTG Rate TR | Add +32.7% | 1.59% | +0.23 |
| PSTL Postal Realty Trust Inc. Class A | Add +426.2% | 0.28% | +0.23 |
| GENI Genius Sports Ltd. | Add +6.2% | 0.77% | +0.21 |
| LMNR Limoneira Co. | Add +9.0% | 1.04% | +0.21 |
| WNEB Western New England Bancorp | Add +52.8% | 0.48% | +0.20 |
| EBC Eastern Bankshares Inc. | Add +58.2% | 0.46% | +0.19 |
| AUB Atlantic Union Bankshares Co. | Add +72.3% | 0.42% | +0.19 |
| RDNT Radnet Inc. | Add +14.6% | 0.88% | +0.16 |
| NEAR iShares SH Dba ETF Usd Inc. | Add +97.6% | 0.34% | +0.15 |
| ARLO Arlo Technologies Inc. | New | 0.14% | +0.14 |
| CMF iShares California Muni Bond | New | 0.14% | +0.14 |
| AMGN Amgen Inc. | New | 0.12% | +0.12 |
| TLS Telos Corporation | Add +162.7% | 0.22% | +0.12 |
| SXI Standex International Corp. | Add +11.2% | 0.96% | +0.12 |
| CLNE Clean Energy Fuels Corp. | Add +53.5% | 0.29% | +0.11 |
| RBBN Ribbon Communications Inc. | Add +54.7% | 0.39% | +0.11 |
| WMT Walmart Inc. | Add +2.7% | 1.12% | +0.11 |
| SITM Sitime Corp. | Add +21.9% | 0.31% | +0.11 |
| AIP Arteris Inc. | New | 0.10% | +0.10 |
| PFIE Profire Energy Inc. | New | 0.10% | +0.10 |
| KRNY Kearny Financial Corp. | Add +104.7% | 0.18% | +0.09 |
| SBUX Starbucks Corp. | New | 0.09% | +0.09 |
| GE General Electric | Add +0.5% | 1.26% | +0.09 |
| PHLT Performant Healthcare Inc. | Add +21.1% | 0.29% | +0.08 |
| LGCY Legacy Education Inc. | New | 0.08% | +0.08 |
| COHR Coherent Corp. | New | 0.08% | +0.08 |
| LOW Lowe's Cos Inc. | New | 0.08% | +0.08 |
| HLMN Hillman Solutions Corp. | Add +19.7% | 0.34% | +0.08 |
| IWP iShares Russell Mid-Cap Grow | Add +60.5% | 0.20% | +0.07 |
| AMBA Ambarella Inc. | Add +42.8% | 0.27% | +0.07 |
| NKE Nike Inc. Class B | New | 0.07% | +0.07 |
| TRNS Transcat Inc. | Add +30.6% | 0.41% | +0.07 |
| PYPL PayPal Holdings Inc. | Add +0.2% | 0.36% | +0.06 |
| IWR iShares Russell Mid-Cap ETF | Add +13.6% | 0.60% | +0.06 |
| META Meta Platforms Inc. Class A | Add +12.3% | 0.47% | +0.06 |
| HUBB Hubbell Inc. | Add +33.8% | 0.21% | +0.06 |
| ANGO Angiodynamics Inc. | New | 0.06% | +0.06 |
| NEO Neogenomics Inc. | Add +57.4% | 0.17% | +0.06 |
| XEL Xcel Energy Inc. | Add +3.3% | 0.46% | +0.06 |
| TSLA Tesla Inc. | Add +2.4% | 0.29% | +0.05 |
| TBNK Territorial Bancorp Inc. | Add +20.5% | 0.18% | +0.05 |
| KRMD Koru Medical Systems Inc. | Add +78.2% | 0.12% | +0.05 |
| ALL Allstate Corp. | Add +0.6% | 0.62% | +0.04 |
| IUSV iShares Core S&P U.S. Value | Add +16.3% | 0.37% | +0.04 |
| RSSS Research Solutions Inc. | New | 0.04% | +0.04 |
| MCD McDonald's Corp. | Add +0.8% | 0.49% | +0.04 |
| NGS Natural Gas Services Group | Add +31.5% | 0.34% | +0.04 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 240 | $423.2M | MMM, AAPL, IVV, MSFT, GOOGL |
| Q1 2026Amended | 230 | $367.7M | MMM, AAPL, MSFT, IVV, GOOGL |
| Q4 2025 | 219 | $363.4M | MMM, MSFT, AAPL, IVV, GOOGL |
| Q3 2025 | 225 | $349.2M | MSFT, MMM, AAPL, IVV, SPY |
| Q2 2025 | 221 | $315.1M | MSFT, MMM, AAPL, IVV, AMZN |
| Q1 2025 | 225 | $288.7M | MMM, AAPL, MSFT, IVV, SPY |
| Q4 2024 | 218 | $296.8M | AAPL, MSFT, MMM, IVV, AMZN |
| Q3 2024 | 215 | $292.7M | MMM, MSFT, AAPL, IVV, SPY |
| Q2 2024 | 210 | $263.9M | MSFT, AAPL, MMM, IVV, SPY |
| Q1 2024 | 211 | $262.9M | MSFT, MMM, AAPL, IVV, SPY |