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White Pine Capital LLC

CIK:0001137429
Investment Adviser
$293M AUM
221 holdings
Bloomington, MN, United States
Founded:1999
6 employees
Latest filing:Jun 30, 2025

White Pine Capital LLC is a Minneapolis-area independent investment advisory firm founded in 1999 and headquartered in Bloomington, MN. The firm specializes in traditional value equity management for institutional and individual clients, including high-net-worth individuals, pension plans, foundations, and endowments. With a small staff of dedicated employees, White Pine Capital provides tailored portfolio management and investment advisory services focused on long-term value investing.

Investment Strategy

White Pine Capital LLC pursues a value-oriented investment approach, focusing on identifying undervalued equity securities of fundamentally strong companies. By employing a disciplined, research-driven process, the firm targets investments offering attractive risk/reward profiles and growth potential, while seeking to provide long-term returns for clients. The firm typically manages concentrated portfolios and emphasizes fundamental analysis, company quality, and intrinsic value, aiming to outperform relevant benchmarks over full market cycles.

Latest 13F Filing Activity

White Pine Capital LLC filed their most recent 13F report on Jun 30, 2025 disclosing 220 equity positions with a total 13F market value of $315M. The fund increased holdings in Microsoft Corp. Com, Meta Platforms Inc., Ishares Core S&P 500 Index Fun among other positions. White Pine Capital LLC reduced exposure to Axogen Inc., Apple Inc., Limoneira Co. among others.

Top Buys
M
MSFTMICROSOFT CORP COM
+$3.7M
M
METAMETA PLATFORMS INC
+$1.7M
I
IVVISHARES CORE S&P 500 INDEX FUN
+$1.3M
N
NVDANVIDIA CORP
+$1.2M
A
AMZNAMAZON.COM INC
+$1.2M
Top Sells
A
AXGNAXOGEN INC
-$1.2M
A
AAPLAPPLE INC
-$1.1M
L
LMNRLIMONEIRA CO
-$973.6K
A
AUBATLANTIC UNION BANKSHARES CO
-$608.9K
C
CVXCHEVRON CORPORATION
-$482.8K

Top Holdings

M
MSFTMICROSOFT CORP COM
+4.8%$15.2M
M
MMM3M CO
+4.7%$14.9M
A
AAPLAPPLE INC
+3.4%$10.7M
I
IVVISHARES CORE S&P 500 INDEX FUN
+3.1%$9.6M
A
AMZNAMAZON.COM INC
+2.0%$6.3M

Equity Positions (220)

TickerSecurityWeightMarket ValueSharesAvg CostPriceChange (QoQ)
MICROSOFT CORP COM4.82%$15.2M30,545$37.37$497.41+$3.7M
3M CO4.73%$14.9M97,909$63.67$152.24+$547.5K
APPLE INC3.40%$10.7M52,272$39.15$205.17-$1.1M
ISHARES CORE S&P 500 INDEX FUN3.05%$9.6M15,485$370.25$620.90+$1.3M
AMAZON.COM INC2.01%$6.3M28,797$118.59$219.39+$1.2M

Industry Allocation

SURGICAL & MEDICAL INSTRUMENTS & APPARATUS
+5.9%
SERVICES-PREPACKAGED SOFTWARE
+5.8%
SEMICONDUCTORS & RELATED DEVICES
+5.2%
SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC.
+4.7%
NATIONAL COMMERCIAL BANKS
+4.5%

Investment Team (1)

NameRoleLocationLinkedIn
C
Charlie Bellows
Senior Vice PresidentMinneapolis, MN , United States