White Pine Capital LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 30, 2025), White Pine Capital LLC reported 218 stock positions worth $296.8 million. Its top holding was Apple (AAPL) at 4.4% of the portfolio, followed by Microsoft (MSFT, 4.3%) and 3M (MMM, 4.3%). Compared with Q3 2024, it opened 12 new positions, sold out of 9, added to 74 and reduced 103. The biggest buy was a new position in Strawberry Fields REIT (STRW) and the biggest sale iShares Floating Rate Bond E (FLOT, shares −23%).
- Most Recent 13F
- Q2 2026
- Location
- BLOOMINGTON, MN
- CIK
- 0001137429
- Portfolio Value
- $296.8M (Q4 2024)
- SEC Filing
- 0001137429-25-000001 ↗ filed Jan 30, 2025
Holdings Value
Holdings 218 stocks · $296.8M
| AAPL Apple Inc. | 4.42% | 52,428 | $13.1M | Reduce -2.6% |
| MSFT Microsoft Corp. | 4.31% | 30,342 | $12.8M | Add +0.0% |
| MMM 3M Co. | 4.25% | 97,768 | $12.6M | Reduce -0.1% |
| IVV iShares Core S&P 500 ETF | 2.69% | 13,585 | $8.0M | Reduce -2.1% |
| AMZN Amazon.com Inc. | 1.95% | 26,374 | $5.8M | Reduce -2.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.94% | 9,831 | $5.8M | Reduce -6.1% |
| GOOGL Alphabet Inc. Class A | 1.65% | 25,797 | $4.9M | Reduce -3.5% |
| V Visa Inc. Class A | 1.60% | 15,072 | $4.8M | Reduce -0.5% |
| XEFRX Eaton Vance Sr FLTG Rate TR | 1.54% | 357,042 | $4.6M | Reduce -2.1% |
| JPM JPMorgan Chase & Co. | 1.53% | 18,910 | $4.5M | Reduce -0.0% |
| PFF iShares Preferred & Income S | 1.41% | 132,935 | $4.2M | Add +10.2% |
| JNJ Johnson & Johnson | 1.29% | 26,377 | $3.8M | Reduce -0.4% |
| FLOT iShares Floating Rate Bond E | 1.27% | 74,232 | $3.8M | Reduce -23.4% |
| WMT Walmart Inc. | 1.24% | 40,700 | $3.7M | Reduce -0.0% |
| MRK Merck & Co. Inc. | 1.24% | 36,874 | $3.7M | Add +0.1% |
| GLD SPDR Gold Shares | 1.18% | 14,514 | $3.5M | Add +7.4% |
| GE General Electric filed as GE AEROSPACE | 1.10% | 19,563 | $3.3M | Add +0.0% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.08% | 14,626 | $3.2M | Reduce -0.0% |
| EQIX Equinix Inc. | 1.03% | 3,230 | $3.0M | Reduce -0.6% |
| WFC Wells Fargo & Co. | 1.01% | 42,888 | $3.0M | Reduce -0.1% |
| SXI Standex International Corp. | 0.97% | 15,373 | $2.9M | Reduce -0.0% |
| TGT Target Corp. | 0.96% | 21,127 | $2.9M | Add +0.4% |
| CVX Chevron Corp. | 0.96% | 19,580 | $2.8M | Add +0.2% |
| EMR Emerson Electric Co. | 0.95% | 22,688 | $2.8M | Add +0.0% |
| LMNR Limoneira Co. | 0.94% | 114,172 | $2.8M | Reduce -0.5% |
| SPYD SS SPDR P S&P 500 Hi Div ETF | 0.93% | 63,678 | $2.8M | Reduce -1.9% |
| GOOG Alphabet Inc. Class C | 0.89% | 13,921 | $2.7M | Reduce -0.2% |
| PEP Pepsico Inc. | 0.88% | 17,218 | $2.6M | Add +0.0% |
| RDNT Radnet Inc. | 0.87% | 37,136 | $2.6M | Reduce -0.3% |
| TRV The Travelers Cos Inc. | 0.82% | 10,069 | $2.4M | Reduce -0.1% |
| ECL Ecolab Inc. | 0.81% | 10,292 | $2.4M | Reduce -0.1% |
| HON Honeywell International Inc. | 0.79% | 10,438 | $2.4M | Add +0.4% |
| NVDA Nvidia Corp. | 0.79% | 17,418 | $2.3M | Reduce -1.1% |
| ADTN Adtran Holdings Inc. | 0.79% | 280,609 | $2.3M | Reduce -0.4% |
| GENI Genius Sports Ltd. | 0.79% | 270,192 | $2.3M | Reduce -5.8% |
| RJF Raymond James Financial Inc. | 0.78% | 14,940 | $2.3M | Add +0.0% |
| ABT Abbott Laboratories | 0.74% | 19,425 | $2.2M | Reduce -0.6% |
| PGX Invesco Preferred ETF | 0.74% | 190,116 | $2.2M | Reduce -0.5% |
| EFA iShares MSCI Eafe ETF | 0.69% | 27,187 | $2.1M | Reduce -10.0% |
| XOM Exxon Mobil Corp. | 0.68% | 18,800 | $2.0M | Add +0.3% |
| AXGN Axogen Inc. | 0.67% | 120,896 | $2.0M | Reduce -0.4% |
| MS Morgan Stanley | 0.65% | 15,355 | $1.9M | Reduce -0.0% |
| T AT&T Inc. | 0.64% | 83,075 | $1.9M | Reduce -0.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.63% | 42,603 | $1.9M | Add +0.1% |
| ALL Allstate Corp. | 0.62% | 9,536 | $1.8M | Reduce -1.0% |
| CECO Ceco Environmental Corp. | 0.62% | 60,538 | $1.8M | Reduce -0.3% |
| IWR iShares Russell Mid-Cap ETF | 0.60% | 19,993 | $1.8M | Add +0.2% |
| ITW Illinois Tool Works | 0.59% | 6,951 | $1.8M | Add +0.1% |
| VZ Verizon Communications Inc. | 0.59% | 43,735 | $1.7M | Reduce -1.2% |
| ORCL Oracle Corp. | 0.59% | 10,464 | $1.7M | Reduce -0.3% |
| CSCO Cisco Systems Inc. | 0.58% | 28,886 | $1.7M | Reduce -0.2% |
| BA The Boeing Co. | 0.57% | 9,513 | $1.7M | Add +32.2% |
| ATRO Astronics Corp. | 0.56% | 104,526 | $1.7M | Reduce -0.3% |
| SOLV Solventum Corp. | 0.55% | 24,891 | $1.6M | Reduce -0.4% |
| IVW iShares S&P 500 Growth ETF | 0.55% | 16,029 | $1.6M | Reduce -0.9% |
| PG The Procter & Gamble Co. | 0.53% | 9,316 | $1.6M | Add +0.1% |
| WNEB Western New England Bancorp | 0.51% | 165,312 | $1.5M | Reduce -0.4% |
| SPYG SS SPDR P S&P 500 Growth ETF | 0.51% | 17,259 | $1.5M | Add +2.6% |
| SDY SS SPDR S&P Dividend ETF | 0.51% | 11,463 | $1.5M | Reduce -3.6% |
| IVE iShares S&P 500 Value ETF | 0.50% | 7,741 | $1.5M | Add +1.2% |
| RBBN Ribbon Communications Inc. | 0.49% | 352,747 | $1.5M | Reduce -0.6% |
| C Citigroup Inc. | 0.49% | 20,832 | $1.5M | Reduce -0.3% |
| AXTI Axt Inc. | 0.49% | 668,499 | $1.5M | Add +0.8% |
| GIS General Mills Inc. | 0.48% | 22,504 | $1.4M | Reduce -0.5% |
| EBC Eastern Bankshares Inc. | 0.48% | 82,297 | $1.4M | Reduce -0.4% |
| META Meta Platforms Inc. Class A | 0.48% | 2,420 | $1.4M | Add +1.0% |
| DCI Donaldson Co. Inc. | 0.47% | 20,911 | $1.4M | Add +0.1% |
| MCD McDonald's Corp. | 0.47% | 4,792 | $1.4M | Add +2.3% |
| XEL Xcel Energy Inc. | 0.47% | 20,481 | $1.4M | Add +0.1% |
| NGS Natural Gas Services Group | 0.47% | 51,558 | $1.4M | Reduce -0.4% |
| TSLA Tesla Inc. | 0.44% | 3,265 | $1.3M | Add +0.2% |
| AUB Atlantic Union Bankshares Co. | 0.42% | 32,683 | $1.2M | Reduce -0.4% |
| ROP Roper Technologies Inc. | 0.40% | 2,301 | $1.2M | Reduce -9.7% |
| KVUE Kenvue Inc. | 0.39% | 54,572 | $1.2M | Add +1.0% |
| PYPL PayPal Holdings Inc. | 0.39% | 13,456 | $1.1M | Reduce -0.3% |
| SWKS Skyworks Solutions Inc. | 0.39% | 12,887 | $1.1M | Reduce -0.7% |
| SITM Sitime Corp. | 0.38% | 5,265 | $1.1M | Reduce -0.5% |
| IWM iShares Russell 2000 ETF | 0.38% | 5,079 | $1.1M | Add +2.0% |
| MDY State Street SPDR S&P Midcap | 0.37% | 1,938 | $1.1M | Reduce -2.6% |
| ANGL Vaneck Fallen Angel High YLD | 0.36% | 37,586 | $1.1M | Add +9.1% |
| HDV iShares Core High Dividend E | 0.36% | 9,548 | $1.1M | Reduce -2.1% |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.36% | 20,699 | $1.1M | Add +1.1% |
| TRNS Transcat Inc. | 0.36% | 10,022 | $1.1M | Add +0.4% |
| IUSV iShares Core S&P U.S. Value | 0.35% | 11,296 | $1.0M | Add +0.1% |
| AOUT American Outdoor Brands Inc. | 0.35% | 67,941 | $1.0M | Reduce -0.3% |
| ABBV Abbvie Inc. | 0.35% | 5,773 | $1.0M | Add +1.9% |
| AMBA Ambarella Inc. | 0.34% | 13,985 | $1.0M | Reduce -0.3% |
| BMY Bristol-Myers Squibb Co. | 0.33% | 17,211 | $973K | Reduce -4.6% |
| QQQ Invesco QQQ Trust Series 1 | 0.33% | 1,899 | $971K | Add +0.2% |
| KHC The Kraft Heinz Co. | 0.32% | 31,330 | $962K | Reduce -0.8% |
| HRL Hormel Foods Corp. | 0.32% | 30,593 | $960K | Reduce -4.8% |
| ELMD Electromed Inc. | 0.31% | 31,615 | $934K | Reduce -2.5% |
| PNC PNC Financial Services Group | 0.31% | 4,825 | $931K | No change |
| CDXS Codexis Inc. | 0.31% | 193,936 | $925K | Add +28.1% |
| MITK Mitek Systems Inc. | 0.31% | 82,733 | $921K | Reduce -1.2% |
| AAOI Applied Optoelectronics Inc. | 0.31% | 24,981 | $921K | Reduce -66.8% |
| XLE SS Energy Select Sector | 0.31% | 10,746 | $921K | Add +1.3% |
| HLMN Hillman Solutions Corp. | 0.31% | 93,893 | $915K | Reduce -0.4% |
| FLL Full House Resorts Inc. filed as FULL HSE RESORTS INC | 0.31% | 223,680 | $913K | Reduce -0.4% |
| HLIT Harmonic Inc. | 0.31% | 68,944 | $912K | Reduce -0.7% |
Portfolio Sells Q3 2024 → Q4 2024
| FLOT iShares Floating Rate Bond E | Reduce -23.4% | 1.27% | −0.42 |
| MMM 3M Co. | Reduce -0.1% | 4.25% | −0.32 |
| UNH Unitedhealth Group Inc. | Reduce -49.0% | 0.14% | −0.18 |
| JNJ Johnson & Johnson | Reduce -0.4% | 1.29% | −0.18 |
| TBNK Territorial Bancorp Inc. | Sold out | 0.00% | −0.18 |
| EFA iShares MSCI Eafe ETF | Reduce -10.0% | 0.69% | −0.17 |
| CLNE Clean Energy Fuels Corp. | Reduce -45.5% | 0.13% | −0.17 |
| CMF iShares California Muni Bond | Sold out | 0.00% | −0.14 |
| ATRO Astronics Corp. | Reduce -0.3% | 0.56% | −0.14 |
| AVNW Aviat Networks Inc. | Sold out | 0.00% | −0.12 |
| CVS CVS Health Corp. | Sold out | 0.00% | −0.11 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -6.1% | 1.94% | −0.11 |
| PFIE Profire Energy Inc. | Sold out | 0.00% | −0.10 |
| LMNR Limoneira Co. | Reduce -0.5% | 0.94% | −0.10 |
| VZ Verizon Communications Inc. | Reduce -1.2% | 0.59% | −0.09 |
| ACLS Axcelis Technologies Inc. | Reduce -1.4% | 0.16% | −0.09 |
| GIS General Mills Inc. | Reduce -0.5% | 0.48% | −0.09 |
| ECL Ecolab Inc. | Reduce -0.1% | 0.81% | −0.09 |
| SPYD SS SPDR P S&P 500 Hi Div ETF | Reduce -1.9% | 0.93% | −0.08 |
| FCX Freeport-McMoran Inc. | Sold out | 0.00% | −0.08 |
| ROP Roper Technologies Inc. | Reduce -9.7% | 0.40% | −0.08 |
| INTC Intel Corp. | Reduce -18.9% | 0.18% | −0.08 |
| DLHC DLH Holdings Corp. | Sold out | 0.00% | −0.08 |
| DHR Danaher Corp. | Reduce -6.4% | 0.25% | −0.08 |
| FLL Full House Resorts Inc. | Reduce -0.4% | 0.31% | −0.08 |
| PPG PPG Industries Inc. | Sold out | 0.00% | −0.07 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −0.07 |
| PGX Invesco Preferred ETF | Reduce -0.5% | 0.74% | −0.07 |
| SDY SS SPDR S&P Dividend ETF | Reduce -3.6% | 0.51% | −0.07 |
| PHLT Performant Healthcare Inc. | Reduce -0.2% | 0.23% | −0.06 |
| AAOI Applied Optoelectronics Inc. | Reduce -66.8% | 0.31% | −0.06 |
| KHC The Kraft Heinz Co. | Reduce -0.8% | 0.32% | −0.05 |
| SWKS Skyworks Solutions Inc. | Reduce -0.7% | 0.39% | −0.05 |
| XEFRX Eaton Vance Sr FLTG Rate TR | Reduce -2.1% | 1.54% | −0.05 |
| NEAR iShares SH Dba ETF Usd Inc. | Reduce -11.6% | 0.29% | −0.05 |
| TIP iShares Tips Bond ETF | Reduce -23.3% | 0.12% | −0.04 |
| SOLV Solventum Corp. | Reduce -0.4% | 0.55% | −0.04 |
| IVV iShares Core S&P 500 ETF | Reduce -2.1% | 2.69% | −0.04 |
| HLIT Harmonic Inc. | Reduce -0.7% | 0.31% | −0.04 |
| EPRF Innovat S&P Invest GRD Pref | Reduce -22.7% | 0.08% | −0.04 |
| HLMN Hillman Solutions Corp. | Reduce -0.4% | 0.31% | −0.03 |
| TU Telus Corp. | Reduce -0.3% | 0.12% | −0.03 |
| MDT Medtronic PLC | Reduce -4.2% | 0.17% | −0.03 |
| HDV iShares Core High Dividend E | Reduce -2.1% | 0.36% | −0.03 |
| TNC Tennant Co. | Reduce -4.4% | 0.12% | −0.03 |
| HRL Hormel Foods Corp. | Reduce -4.8% | 0.32% | −0.02 |
| ORCL Oracle Corp. | Reduce -0.3% | 0.59% | −0.02 |
| IBM Intl Business Machines Corp. | Reduce -0.0% | 1.08% | −0.02 |
| ABT Abbott Laboratories | Reduce -0.6% | 0.74% | −0.02 |
| NEE Nextera Energy Inc. | Reduce -0.9% | 0.10% | −0.02 |
Portfolio Buys Q3 2024 → Q4 2024
| STRW Strawberry Fields REIT Inc. | New | 0.25% | +0.25 |
| BA The Boeing Co. | Add +32.2% | 0.57% | +0.19 |
| RJF Raymond James Financial Inc. | Add +0.0% | 0.78% | +0.16 |
| TSLA Tesla Inc. | Add +0.2% | 0.44% | +0.15 |
| CDXS Codexis Inc. | Add +28.1% | 0.31% | +0.15 |
| ANGO Angiodynamics Inc. | Add +189.6% | 0.20% | +0.14 |
| ALNT Allient Inc. | New | 0.14% | +0.14 |
| BFLY Butterfly Network Inc. | New | 0.13% | +0.13 |
| SUB iShares Short-Term National | New | 0.13% | +0.13 |
| SONO Sonos Inc. | New | 0.13% | +0.13 |
| RDVT Red Violet Inc. | New | 0.13% | +0.13 |
| RSSS Research Solutions Inc. | Add +168.0% | 0.17% | +0.12 |
| FWRG First Watch Restaurant Group | New | 0.11% | +0.11 |
| EB Eventbrite Inc. Class A | New | 0.10% | +0.10 |
| EMR Emerson Electric Co. | Add +0.0% | 0.95% | +0.10 |
| KRMD Koru Medical Systems Inc. | Add +25.6% | 0.20% | +0.09 |
| CMT Core Molding Technologies Inc. | New | 0.09% | +0.09 |
| AIP Arteris Inc. | Add +33.4% | 0.18% | +0.08 |
| GILD Gilead Sciences Inc. | New | 0.08% | +0.08 |
| VIAV Viavi Solutions Inc. | Add +51.0% | 0.19% | +0.08 |
| GS Goldman Sachs Group Inc. | New | 0.07% | +0.07 |
| UUUU Energy Fuels Inc. | New | 0.06% | +0.06 |
| GLD SPDR Gold Shares | Add +7.4% | 1.18% | +0.06 |
| HON Honeywell International Inc. | Add +0.4% | 0.79% | +0.06 |
| CRM Salesforce Inc. | Add +6.5% | 0.25% | +0.05 |
| BAC Bank of America Corp. | Add +0.1% | 0.63% | +0.05 |
| PFE Pfizer Inc. | Add +47.5% | 0.17% | +0.04 |
| ET Energy Transfer LP | Add +17.2% | 0.14% | +0.04 |
| PFF iShares Preferred & Income S | Add +10.2% | 1.41% | +0.04 |
| NFLX Netflix Inc. | Add +3.5% | 0.17% | +0.04 |
| SPYG SS SPDR P S&P 500 Growth ETF | Add +2.6% | 0.51% | +0.03 |
| ANGL Vaneck Fallen Angel High YLD | Add +9.1% | 0.36% | +0.02 |
| QQQ Invesco QQQ Trust Series 1 | Add +0.2% | 0.33% | +0.01 |
| XEL Xcel Energy Inc. | Add +0.1% | 0.47% | +0.01 |
| SPG Simon Property Group Inc. | Add +5.0% | 0.18% | +0.01 |
| HBAN Huntington Bancshares Inc. | Add +0.0% | 0.11% | +0.01 |
| META Meta Platforms Inc. Class A | Add +1.0% | 0.48% | +0.01 |
| WINA Winmark Corp. | Add +0.1% | 0.22% | +0.00 |
| IWM iShares Russell 2000 ETF | Add +2.0% | 0.38% | +0.00 |
| LH Labcorp Holdings Inc. | Add +0.4% | 0.11% | +0.00 |
| VIG Vanguard Dividend Apprec ETF | Add +3.7% | 0.14% | +0.00 |
| LOW Lowe's Cos Inc. | Add +13.3% | 0.08% | +0.00 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Add +4.2% | 0.11% | +0.00 |
| EWX State Street SPDR S&P Emergi | Add +8.2% | 0.15% | +0.00 |
| PSTL Postal Realty Trust Inc. Class A | Add +12.3% | 0.27% | −0.00 |
| EBAY eBay Inc. | Add +4.5% | 0.19% | −0.00 |
| PHYS Sprott Physical Gold Trust | Add +0.9% | 0.27% | −0.00 |
| IJR iShares Core S&P Small-Cap E | Add +0.9% | 0.24% | −0.00 |
| IWR iShares Russell Mid-Cap ETF | Add +0.2% | 0.60% | −0.01 |
| SBUX Starbucks Corp. | Add +1.7% | 0.08% | −0.01 |
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 |