White Pine Capital LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), White Pine Capital LLC reported 221 stock positions worth $315.1 million. Its top holding was Microsoft (MSFT) at 4.8% of the portfolio, followed by 3M (MMM, 4.7%) and Apple (AAPL, 3.4%). Compared with Q1 2025, it opened 5 new positions, sold out of 9, added to 110 and reduced 72. The biggest buy was Meta Platforms Class A (META, shares +64%) and the biggest sale Apple (AAPL, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- BLOOMINGTON, MN
- CIK
- 0001137429
- Portfolio Value
- $315.1M (Q2 2025)
- SEC Filing
- 0001137429-25-000004 ↗ filed Aug 12, 2025
Holdings Value
Holdings 221 stocks · $315.1M
| MSFT Microsoft Corp. | 4.82% | 30,545 | $15.2M | Reduce -0.3% |
| MMM 3M Co. | 4.73% | 97,909 | $14.9M | Add +0.1% |
| AAPL Apple Inc. | 3.40% | 52,272 | $10.7M | Reduce -1.9% |
| IVV iShares Core S&P 500 ETF | 3.05% | 15,485 | $9.6M | Add +4.2% |
| AMZN Amazon.com Inc. | 2.01% | 28,797 | $6.3M | Add +6.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.94% | 9,916 | $6.1M | Add +0.9% |
| JPM JPMorgan Chase & Co. | 1.78% | 19,360 | $5.6M | Add +0.9% |
| V Visa Inc. Class A | 1.70% | 15,042 | $5.3M | Reduce -0.5% |
| GE General Electric filed as GE AEROSPACE | 1.61% | 19,716 | $5.1M | Add +0.2% |
| GOOGL Alphabet Inc. Class A | 1.49% | 26,648 | $4.7M | Add +0.6% |
| PFF iShares Preferred & Income S | 1.40% | 144,102 | $4.4M | Add +2.5% |
| GLD SPDR Gold Shares | 1.39% | 14,323 | $4.4M | Reduce -2.0% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.37% | 14,669 | $4.3M | Reduce -0.1% |
| FLOT iShares Floating Rate Bond E | 1.33% | 82,125 | $4.2M | Add +16.3% |
| WMT Walmart Inc. | 1.33% | 42,709 | $4.2M | Add +1.0% |
| XEFRX Eaton Vance Sr FLTG Rate TR | 1.31% | 340,910 | $4.1M | Reduce -0.4% |
| JNJ Johnson & Johnson | 1.28% | 26,316 | $4.0M | Reduce -0.2% |
| WFC Wells Fargo & Co. | 1.07% | 41,932 | $3.4M | Reduce -1.6% |
| NVDA Nvidia Corp. | 1.06% | 21,153 | $3.3M | Add +8.7% |
| META Meta Platforms Inc. Class A | 1.05% | 4,464 | $3.3M | Add +64.5% |
| EMR Emerson Electric Co. | 0.93% | 21,957 | $2.9M | Reduce -3.0% |
| MRK Merck & Co. Inc. | 0.93% | 36,901 | $2.9M | Reduce -0.4% |
| ECL Ecolab Inc. | 0.89% | 10,382 | $2.8M | Add +0.1% |
| CVX Chevron Corp. | 0.88% | 19,296 | $2.8M | Reduce -0.6% |
| TRV The Travelers Cos Inc. | 0.87% | 10,294 | $2.8M | Reduce -0.3% |
| ABT Abbott Laboratories | 0.84% | 19,500 | $2.7M | Add +0.2% |
| HON Honeywell International Inc. | 0.83% | 11,223 | $2.6M | Add +1.5% |
| EQIX Equinix Inc. | 0.82% | 3,239 | $2.6M | No change |
| SPYD SS SPDR P S&P 500 Hi Div ETF | 0.82% | 60,699 | $2.6M | Reduce -4.2% |
| GENI Genius Sports Ltd. | 0.81% | 244,053 | $2.5M | Reduce -9.8% |
| EFA iShares MSCI Eafe ETF | 0.80% | 28,315 | $2.5M | Add +0.4% |
| ORCL Oracle Corp. | 0.79% | 11,328 | $2.5M | Add +1.3% |
| T AT&T Inc. | 0.78% | 84,947 | $2.5M | Add +1.9% |
| ATRO Astronics Corp. | 0.77% | 72,090 | $2.4M | Add +1.0% |
| GOOG Alphabet Inc. Class C | 0.76% | 13,421 | $2.4M | Reduce -3.6% |
| SXI Standex International Corp. | 0.75% | 15,167 | $2.4M | Reduce -0.3% |
| PEP Pepsico Inc. | 0.72% | 17,066 | $2.3M | Reduce -0.7% |
| MS Morgan Stanley | 0.71% | 15,820 | $2.2M | Add +2.2% |
| RJF Raymond James Financial Inc. | 0.71% | 14,524 | $2.2M | Reduce -2.0% |
| PGX Invesco Preferred ETF | 0.70% | 197,193 | $2.2M | Add +2.1% |
| RDNT Radnet Inc. | 0.68% | 37,742 | $2.1M | Add +1.3% |
| ADTN Adtran Holdings Inc. | 0.66% | 230,445 | $2.1M | Add +1.5% |
| CSCO Cisco Systems Inc. | 0.65% | 29,730 | $2.1M | Add +1.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.64% | 42,848 | $2.0M | Add +0.6% |
| TGT Target Corp. | 0.64% | 20,550 | $2.0M | Add +1.0% |
| XOM Exxon Mobil Corp. | 0.64% | 18,700 | $2.0M | Add +1.4% |
| BA The Boeing Co. | 0.62% | 9,367 | $2.0M | Reduce -2.3% |
| ALL Allstate Corp. | 0.61% | 9,530 | $1.9M | Reduce -0.3% |
| SOLV Solventum Corp. | 0.61% | 25,263 | $1.9M | Reduce -0.2% |
| CECO Ceco Environmental Corp. | 0.59% | 65,457 | $1.9M | Add +10.2% |
| IWR iShares Russell Mid-Cap ETF | 0.58% | 19,914 | $1.8M | No change |
| AXTI Axt Inc. | 0.57% | 860,411 | $1.8M | Add +2.8% |
| C Citigroup Inc. | 0.57% | 20,962 | $1.8M | Add +0.1% |
| VZ Verizon Communications Inc. | 0.57% | 41,212 | $1.8M | Reduce -2.8% |
| ITW Illinois Tool Works | 0.56% | 7,148 | $1.8M | Reduce -0.4% |
| SPYG SS SPDR P S&P 500 Growth ETF | 0.54% | 17,969 | $1.7M | Add +1.6% |
| IVW iShares S&P 500 Growth ETF | 0.54% | 15,556 | $1.7M | Reduce -2.7% |
| RBBN Ribbon Communications Inc. | 0.53% | 418,957 | $1.7M | Add +17.8% |
| SDY SS SPDR S&P Dividend ETF | 0.50% | 11,500 | $1.6M | No change |
| WNEB Western New England Bancorp | 0.49% | 168,254 | $1.6M | Add +1.5% |
| PG The Procter & Gamble Co. | 0.47% | 9,389 | $1.5M | Add +0.2% |
| GEV GE Vernova Inc. | 0.47% | 2,779 | $1.5M | Add +1.5% |
| MCD McDonald's Corp. | 0.45% | 4,887 | $1.4M | Add +1.7% |
| DCI Donaldson Co. Inc. | 0.45% | 20,421 | $1.4M | Reduce -2.0% |
| XEL Xcel Energy Inc. | 0.44% | 20,305 | $1.4M | Reduce -0.6% |
| NGS Natural Gas Services Group | 0.43% | 52,623 | $1.4M | Add +1.5% |
| ROP Roper Technologies Inc. | 0.43% | 2,375 | $1.3M | Add +0.1% |
| IVE iShares S&P 500 Value ETF | 0.42% | 6,786 | $1.3M | Reduce -11.9% |
| EBC Eastern Bankshares Inc. | 0.41% | 84,771 | $1.3M | Add +1.6% |
| NEAR iShares SH Dba ETF Usd Inc. | 0.41% | 25,117 | $1.3M | Add +55.4% |
| ANGL Vaneck Fallen Angel High YLD | 0.40% | 42,601 | $1.2M | Reduce -2.9% |
| GIS General Mills Inc. | 0.39% | 23,933 | $1.2M | Reduce -0.8% |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.37% | 22,254 | $1.2M | Add +7.2% |
| RIOT Riot Platforms Inc. | 0.37% | 103,223 | $1.2M | Add +34.7% |
| SITM Sitime Corp. | 0.36% | 5,376 | $1.1M | Add +1.6% |
| RTX RTX Corp. | 0.36% | 7,797 | $1.1M | Reduce -0.8% |
| KVUE Kenvue Inc. | 0.35% | 53,416 | $1.1M | Reduce -2.2% |
| KRNY Kearny Financial Corp. | 0.35% | 172,416 | $1.1M | Add +123.5% |
| AMD Advanced Micro Devices | 0.35% | 7,782 | $1.1M | Add +30.7% |
| HDV iShares Core High Dividend E | 0.35% | 9,405 | $1.1M | Reduce -0.9% |
| MDY State Street SPDR S&P Midcap | 0.35% | 1,934 | $1.1M | Add +0.3% |
| TSLA Tesla Inc. | 0.34% | 3,418 | $1.1M | Add +2.6% |
| MITK Mitek Systems Inc. | 0.34% | 109,570 | $1.1M | Add +33.6% |
| ABBV Abbvie Inc. | 0.34% | 5,773 | $1.1M | No change |
| IWM iShares Russell 2000 ETF | 0.33% | 4,835 | $1.0M | Add +0.4% |
| LMNR Limoneira Co. | 0.33% | 66,493 | $1.0M | Reduce -41.5% |
| PHYS Sprott Physical Gold Trust | 0.33% | 40,904 | $1.0M | No change |
| IUSV iShares Core S&P U.S. Value | 0.33% | 10,858 | $1.0M | Reduce -3.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.32% | 2,094 | $1.0M | Add +1.8% |
| SPYV SS SPDR P S&P 500 Value ETF | 0.32% | 19,012 | $995K | Add +0.3% |
| NFLX Netflix Inc. | 0.31% | 740 | $991K | Add +18.4% |
| AMBA Ambarella Inc. | 0.31% | 14,745 | $974K | Add +6.5% |
| PYPL PayPal Holdings Inc. | 0.31% | 13,066 | $971K | Reduce -1.3% |
| PSTL Postal Realty Trust Inc. Class A | 0.29% | 62,756 | $924K | Add +0.2% |
| PHLT Performant Healthcare Inc. | 0.29% | 229,681 | $919K | Add +1.5% |
| LGCY Legacy Education Inc. | 0.29% | 82,143 | $918K | Add +1.7% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.29% | 7,336 | $910K | Reduce -1.4% |
| SWKS Skyworks Solutions Inc. | 0.29% | 12,175 | $907K | Reduce -5.3% |
| XLE SS Energy Select Sector | 0.28% | 10,461 | $887K | Reduce -1.5% |
| PNC PNC Financial Services Group | 0.28% | 4,750 | $885K | Reduce -1.6% |
Portfolio Sells Q1 2025 → Q2 2025
| AAPL Apple Inc. | Reduce -1.9% | 3.40% | −0.70 |
| AXGN Axogen Inc. | Reduce -50.7% | 0.16% | −0.45 |
| LMNR Limoneira Co. | Reduce -41.5% | 0.33% | −0.37 |
| CVX Chevron Corp. | Reduce -0.6% | 0.88% | −0.25 |
| JNJ Johnson & Johnson | Reduce -0.2% | 1.28% | −0.24 |
| MRK Merck & Co. Inc. | Reduce -0.4% | 0.93% | −0.22 |
| AUB Atlantic Union Bankshares Co. | Sold out | 0.00% | −0.21 |
| PEP Pepsico Inc. | Reduce -0.7% | 0.72% | −0.18 |
| SPYD SS SPDR P S&P 500 Hi Div ETF | Reduce -4.2% | 0.82% | −0.15 |
| XEFRX Eaton Vance Sr FLTG Rate TR | Reduce -0.4% | 1.31% | −0.14 |
| V Visa Inc. Class A | Reduce -0.5% | 1.70% | −0.14 |
| GENI Genius Sports Ltd. | Reduce -9.8% | 0.81% | −0.13 |
| FARO Faro Technologies Inc. | Sold out | 0.00% | −0.13 |
| BMY Bristol-Myers Squibb Co. | Reduce -1.1% | 0.25% | −0.11 |
| FLL Full House Resorts Inc. | Reduce -17.9% | 0.21% | −0.11 |
| PEB Pebblebrook Hotel Trust | Sold out | 0.00% | −0.11 |
| GIS General Mills Inc. | Reduce -0.8% | 0.39% | −0.11 |
| VZ Verizon Communications Inc. | Reduce -2.8% | 0.57% | −0.10 |
| KVUE Kenvue Inc. | Reduce -2.2% | 0.35% | −0.10 |
| SXI Standex International Corp. | Reduce -0.3% | 0.75% | −0.10 |
| SONO Sonos Inc. | Sold out | 0.00% | −0.10 |
| KHC The Kraft Heinz Co. | Reduce -6.0% | 0.24% | −0.09 |
| IVE iShares S&P 500 Value ETF | Reduce -11.9% | 0.42% | −0.09 |
| ALL Allstate Corp. | Reduce -0.3% | 0.61% | −0.08 |
| CDXS Codexis Inc. | Reduce -29.4% | 0.11% | −0.08 |
| CVS CVS Health Corp. | Sold out | 0.00% | −0.07 |
| GLD SPDR Gold Shares | Reduce -2.0% | 1.39% | −0.07 |
| TRV The Travelers Cos Inc. | Reduce -0.3% | 0.87% | −0.07 |
| ZBH Zimmer Biomet Holdings Inc. | Sold out | 0.00% | −0.07 |
| TKR Timken Co. | Sold out | 0.00% | −0.07 |
| CSX CSX Corp. | Sold out | 0.00% | −0.07 |
| NEO Neogenomics Inc. | Reduce -29.6% | 0.07% | −0.07 |
| XLE SS Energy Select Sector | Reduce -1.5% | 0.28% | −0.06 |
| XEL Xcel Energy Inc. | Reduce -0.6% | 0.44% | −0.06 |
| PFE Pfizer Inc. | Reduce -26.1% | 0.11% | −0.06 |
| SOLV Solventum Corp. | Reduce -0.2% | 0.61% | −0.06 |
| ITW Illinois Tool Works | Reduce -0.4% | 0.56% | −0.06 |
| SPSM SS SPDR P S&P 600 Small Cap | Reduce -15.3% | 0.22% | −0.05 |
| GEHC GE Healthcare Technology | Reduce -7.4% | 0.18% | −0.05 |
| HDV iShares Core High Dividend E | Reduce -0.9% | 0.35% | −0.05 |
| HRL Hormel Foods Corp. | Reduce -3.6% | 0.27% | −0.04 |
| ANGL Vaneck Fallen Angel High YLD | Reduce -2.9% | 0.40% | −0.04 |
| WYNN WYNN Resorts Ltd. | Reduce -34.5% | 0.09% | −0.04 |
| WBD Warner Bros Discovery Inc. | Sold out | 0.00% | −0.04 |
| AMGN Amgen Inc. | Reduce -9.3% | 0.10% | −0.04 |
| DCI Donaldson Co. Inc. | Reduce -2.0% | 0.45% | −0.03 |
| COP Conocophillips | Reduce -8.0% | 0.08% | −0.03 |
| IUSV iShares Core S&P U.S. Value | Reduce -3.0% | 0.33% | −0.03 |
| EPD Enterprise Products Partners | Reduce -0.2% | 0.15% | −0.03 |
| EOG EOG Resources Inc. | Reduce -1.9% | 0.16% | −0.03 |
Portfolio Buys Q1 2025 → Q2 2025
| META Meta Platforms Inc. Class A | Add +64.5% | 1.05% | +0.50 |
| NVDA Nvidia Corp. | Add +8.7% | 1.06% | +0.33 |
| GE General Electric | Add +0.2% | 1.61% | +0.25 |
| ORCL Oracle Corp. | Add +1.3% | 0.79% | +0.24 |
| AMZN Amazon.com Inc. | Add +6.4% | 2.01% | +0.22 |
| AVNW Aviat Networks Inc. | New | 0.21% | +0.21 |
| KRNY Kearny Financial Corp. | Add +123.5% | 0.35% | +0.19 |
| RIOT Riot Platforms Inc. | Add +34.7% | 0.37% | +0.18 |
| GEV GE Vernova Inc. | Add +1.5% | 0.47% | +0.18 |
| ATRO Astronics Corp. | Add +1.0% | 0.77% | +0.17 |
| AVGO Broadcom Inc. | Add +77.6% | 0.27% | +0.17 |
| AXTI Axt Inc. | Add +2.8% | 0.57% | +0.16 |
| IVV iShares Core S&P 500 ETF | Add +4.2% | 3.05% | +0.16 |
| JPM JPMorgan Chase & Co. | Add +0.9% | 1.78% | +0.15 |
| UUUU Energy Fuels Inc. | Add +180.5% | 0.20% | +0.15 |
| AMD Advanced Micro Devices | Add +30.7% | 0.35% | +0.14 |
| NEAR iShares SH Dba ETF Usd Inc. | Add +55.4% | 0.41% | +0.12 |
| MXL Maxlinear Inc. | Add +94.4% | 0.21% | +0.12 |
| CECO Ceco Environmental Corp. | Add +10.2% | 0.59% | +0.12 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Add +115.8% | 0.23% | +0.11 |
| NFLX Netflix Inc. | Add +18.4% | 0.31% | +0.11 |
| MITK Mitek Systems Inc. | Add +33.6% | 0.34% | +0.11 |
| CLFD Clearfield Inc. | New | 0.11% | +0.11 |
| TLS Telos Corporation | Add +36.3% | 0.25% | +0.10 |
| RDVT Red Violet Inc. | Add +44.2% | 0.24% | +0.10 |
| RDW Redwire Corp. | Add +2.6% | 0.21% | +0.09 |
| LGCY Legacy Education Inc. | Add +1.7% | 0.29% | +0.09 |
| SITM Sitime Corp. | Add +1.6% | 0.36% | +0.08 |
| MS Morgan Stanley | Add +2.2% | 0.71% | +0.08 |
| FLOT iShares Floating Rate Bond E | Add +16.3% | 1.33% | +0.08 |
| DUK Duke Energy Corp. | New | 0.07% | +0.07 |
| SHAK Shake Shack Inc. Class A | Add +2.0% | 0.22% | +0.07 |
| GOOGL Alphabet Inc. Class A | Add +0.6% | 1.49% | +0.07 |
| ALNT Allient Inc. | Add +1.6% | 0.20% | +0.07 |
| ARLO Arlo Technologies Inc. | Add +1.6% | 0.18% | +0.07 |
| EZU iShares MSCI Eurozone ETF | New | 0.07% | +0.07 |
| AMBA Ambarella Inc. | Add +6.5% | 0.31% | +0.07 |
| HUBB Hubbell Inc. | Add +20.7% | 0.25% | +0.07 |
| IJH iShares Core S&P Midcap ETF | New | 0.07% | +0.07 |
| TITN Titan Machinery Inc. | Add +75.4% | 0.14% | +0.06 |
| KRMD Koru Medical Systems Inc. | Add +1.6% | 0.26% | +0.06 |
| PHLT Performant Healthcare Inc. | Add +1.5% | 0.29% | +0.06 |
| CRM Salesforce Inc. | Add +32.8% | 0.28% | +0.05 |
| C Citigroup Inc. | Add +0.1% | 0.57% | +0.05 |
| SPYG SS SPDR P S&P 500 Growth ETF | Add +1.6% | 0.54% | +0.05 |
| RBBN Ribbon Communications Inc. | Add +17.8% | 0.53% | +0.05 |
| CMT Core Molding Technologies Inc. | Add +59.6% | 0.13% | +0.05 |
| AEHR Aehr Test Systems | Add +0.7% | 0.12% | +0.05 |
| TSLA Tesla Inc. | Add +2.6% | 0.34% | +0.05 |
| COHR Coherent Corp. | Add +28.0% | 0.11% | +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 |