White Pine Capital LLC Portfolio Holdings

White Pine Capital LLC

$338 Million
Q3 2025

White Pine Capital LLC has filed its 13F form on November 10, 2025 for Q3 2025 where it was disclosed a total value porftolio of $338 Million distributed in 225 stocks.

Among their holdings, we can observe that their the top five positions include companies like: Microsoft Corp with a value of $15.7M, 3 M CO with a value of $15.2M, Apple Inc. with a value of $13.3M, Ishares Core S&P 500 ETF with a value of $10.2M, and Spdr S&P 500 ETF Trust with a value of $6.62M.

Examining the 13F form we can see an increase of $32.1M in the current position value, from $306M to 338M.

White Pine Capital LLC is based out at Golden Valley, MN

Below you can find more details about White Pine Capital LLC portfolio as well as his latest detailed transactions.

Portfolio value $338 Million

Technology: $69.6 Million

ETFs: $69.4 Million

Industrials: $48 Million

Financial Services: $43.5 Million

Healthcare: $26.8 Million

Communication Services: $23.5 Million

Consumer Cyclical: $16 Million

Consumer Defensive: $15.5 Million

Other: $24.5 Million

Stock Holdings Table ETFs Only

Stock	Market Cap.	Holding Value (Reported)	# of Shares.	Last Trade
IVV Ishares Core S&P 500 ETF ETFs	$0	$10.2 Million 3.01% of portfolio	15,209	Q3 2025 Reduced 1.78%
SPY Spdr S&P 500 ETF Trust ETFs	$0	$6.62 Million 1.96% of portfolio	9,941	Q3 2025 Added 0.25%
GLD Spdr Gold Trust ETFs	$130B	$5.09 Million 1.51% of portfolio	14,323	Q2 2025 Reduced 1.99%
FLOT Ishares Tr Fltg Rate Nt ETF ETFs	$0	$4.87 Million 1.44% of portfolio	95,372	Q3 2025 Added 16.13%
PFF Ishares Trust Ishares Pfd And ETFs	$0	$4.56 Million 1.35% of portfolio	144,269	Q3 2025 Added 0.12%
SPYD Spdr Portfolio S&P 500 High Di ETFs	$0	$2.91 Million 0.86% of portfolio	66,036	Q3 2025 Added 8.79%
EFA Ishares Tr Msci Eafe ETF ETFs	$0	$2.66 Million 0.79% of portfolio	28,475	Q3 2025 Added 0.57%
PGX Invesco ETF Tr Ii Pfd ETF ETFs	$0	$2.21 Million 0.65% of portfolio	190,460	Q3 2025 Reduced 3.41%
SPYG Spdr Portfolio ETFs	$0	$1.97 Million 0.58% of portfolio	18,854	Q3 2025 Added 4.93%

IVW Ishares S&P 500 Growth ETF ETFs	$0	$1.71 Million 0.51% of portfolio	14,169	Q3 2025 Reduced 8.92%
IWR Ishares Russell Mid Cap ETF ETFs	$0	$1.69 Million 0.5% of portfolio	17,547	Q3 2025 Reduced 11.89%
SDY Spdr Series Tr Spdr S&P Divide ETFs	$0	$1.59 Million 0.47% of portfolio	11,333	Q3 2025 Reduced 1.45%
IVE Ishares S&P 500 Value ETF ETFs	$0	$1.36 Million 0.4% of portfolio	6,582	Q3 2025 Reduced 3.01%
ANGL Vaneck ETF Tr Fallen Angel Hig ETFs	$0	$1.33 Million 0.39% of portfolio	44,659	Q3 2025 Added 4.83%
NEAR Blackrock Short Maturity Bond ETFs	$0	$1.33 Million 0.39% of portfolio	25,965	Q3 2025 Added 3.38%
SPYV Spdr Portfolio S&P 500 Value E ETFs	$0	$1.24 Million 0.37% of portfolio	22,482	Q3 2025 Added 18.25%
IGSB Ishares Trust Ishares 1 5 Year ETFs	$0	$1.14 Million 0.34% of portfolio	21,409	Q3 2025 Reduced 3.8%
MDY Spdr S&P Midcap 400 ETF Trust ETFs	$0	$1.15 Million 0.34% of portfolio	1,931	Q3 2025 Reduced 0.16%

HDV Ishares Core High Dividend ETF ETFs	$0	$1.12 Million 0.33% of portfolio	9,168	Q3 2025 Reduced 2.52%
IUSV Ishares Core S&P U.S. Value Et ETFs	$0	$1.08 Million 0.32% of portfolio	10,774	Q3 2025 Reduced 0.77%
IWM Ishares Russell 2000 ETF ETFs	$0	$1.06 Million 0.31% of portfolio	4,392	Q3 2025 Reduced 9.16%
XLE Energy Sector Spdr ETFs	$0	$932,000 0.28% of portfolio	10,436	Q3 2025 Reduced 0.24%
OUNZ Van Eck Merk Gold Trust ETFs	$1.44B	$829,000 0.25% of portfolio	22,311	Q2 2025 Reduced 0.45%
SPMD Spdr Portfolio ETFs	$0	$772,000 0.23% of portfolio	13,511	Q3 2023 Added 46.68%
XLU Utilities Sector Spdr ETFs	$0	$778,000 0.23% of portfolio	8,932	Q3 2025 Reduced 0.22%
IJR Ishares Core S&P Sm Cap ETF ETFs	$0	$731,000 0.22% of portfolio	6,155	Q2 2025 Added 0.11%
SPSM Spdr Portfolio S&P 600 Small C ETFs	$0	$741,000 0.22% of portfolio	16,001	Q3 2025 Reduced 3.81%
LQD Ishares Iboxx $ Investment Gra ETFs	$0	$730,000 0.22% of portfolio	6,552	Q2 2025 Added 115.81%
KRE Spdr S&P Regional Banking ETF ETFs	$0	$719,000 0.21% of portfolio	11,360	Q2 2025 Reduced 7.15%
IWP Ishares Russell Mid Cap Growth ETFs	$0	$713,000 0.21% of portfolio	5,012	Q3 2024 Added 60.54%
QQQ Invesco Qqq Trust, Series 1 ETFs	$0	$703,000 0.21% of portfolio	1,171	Q3 2025 Reduced 0.09%
VWO Vanguard Ftse Emerging Mkts Et ETFs	$0	$661,000 0.2% of portfolio	12,202	Q3 2025 Reduced 0.83%
VOO Vanguard Index Fds S&P 500 ETF ETFs	$0	$642,000 0.19% of portfolio	1,050	Q4 2022 New
SUB Ishares Short Term National Mu ETFs	$0	$624,000 0.18% of portfolio	5,849	Q3 2025 Added 43.89%
EWX Spdr S&P Emerging Markets Smal ETFs	$0	$497,000 0.15% of portfolio	7,400	Q4 2024 Added 8.19%
EEM Ishares Msci Emerging Markets ETFs	$0	$506,000 0.15% of portfolio	9,493	Q3 2025 Added 1.63%
HYG Ishares Tr ETFs	$0	$363,000 0.11% of portfolio	4,473	Q3 2025 Added 11.13%
IEFA Ishares Tr ETFs	$0	$357,000 0.11% of portfolio	4,099	Q2 2025 Added 0.2%
VIG Vanguard Dividend Appreciation ETFs	$0	$335,000 0.1% of portfolio	1,840	Q3 2025 Reduced 11.41%
IYW Ishares Dj Us Tech ETF ETFs	$0	$280,000 0.08% of portfolio	1,432	Q2 2024 New
EZU Ishares Inc Msci Eurozone ETF ETFs	$0	$224,000 0.07% of portfolio	3,617	Q2 2025 New
IJH Ishares Core S&P Mid Cap ETF ETFs	$0	$217,000 0.06% of portfolio	3,335	Q2 2025 New
TIP Ishares Tr Tips Bd ETF ETFs	$0	$219,000 0.06% of portfolio	1,977	Q3 2025 Reduced 18.37%

Summary

Portfolio
No. of Stocks 225
Current Value $338 Million
Prior Value $306 Million
Filing
Period Q3 2025
Filing Date November 10, 2025
Form Type 13F-HR
Activity in Q3 2025
New Purchases 9 stocks
Additional Purchases 79 stocks
Sold out of 0 stocks
Reduced holdings in 93 stocks

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White Pine Capital LLC Portfolio Holdings