WHITE PINE CAPITAL LLC
Q2 2022 Form 13-F
GOLDEN VALLEY, MINNESOTA
CIK 0001137429
· CRD 108417
· SEC-registered investment adviser
$255.2M Reported Value Total
WHITE PINE CAPITAL LLC reports 377 total accounts under management (AUM). There are 376 discretionary accounts valued at $404,032,336, and 1 non-discretionary accounts valued at $54,034.
Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
Private funds (Form ADV)
1 fund
· $11.9M gross asset value
Hedge Fund: $11.9M
Source: Form ADV filed 2026-03-31
Reported value
$255.2M
Quarter over quarter
-14.2%
Holdings
214
Top-10 concentration
27.1%
Filing Structure
Reports holdings for
- Charles Bellows (not a 13F filer in our records) · Q1 2022 – Q4 2022 · declared by one filing
- Dennis Senneseth (not a 13F filer in our records) · Q1 2022 – Q4 2022 · declared by one filing
- Timothy Madey (not a 13F filer in our records) · Q1 2022 – Q4 2022 · declared by one filing
Key People
Form ADV owners & control persons
Timothy Francis Madey
MANAGING MEMBER, CHIEF INVESTMENT OFFICER
Michael Scott Wallace
MANAGING MEMBER, PRESIDENT
Barbara Jean Hardy
CHIEF COMPLIANCE OFFICER
Filing Navigation
Coverage begins with the second quarter of 2013. Earlier quarters are not shown while their accuracy is being verified.
13F Metrics
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Q2 2022 13F record
Q2 2022 13F filing summary
| Period of report | June 30, 2022 |
|---|---|
| Filed | August 16, 2022 |
| Form | 13F-HR |
| Reported value | $255.2M |
| Positions | 214 |
| Change in reported value | -20.9% |
| New positions | 7 |
| Exited positions | 16 |
| Position turnover | 10.0% |
| Top-10 concentration | 27.1% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q3 2026 13F
Filed Nov 9, 2026
|
240 | $418.9M |
|
Q2 2026 13F
Filed Aug 5, 2026
|
240 | $423.2M |
|
Q1 2026 13F
Filed May 11, 2026
|
230 | $367.7M |
|
Q4 2025 13F
Filed Feb 9, 2026
|
219 | $363.4M |
|
Q3 2025 13F
Filed Nov 10, 2025
|
225 | $349.2M |
|
Q2 2025 13F
Filed Aug 12, 2025
|
221 | $315.1M |
|
Q1 2025 13F
Filed May 13, 2025
|
225 | $288.7M |
|
Q4 2024 13F
Filed Jan 30, 2025
|
218 | $296.8M |
|
Q3 2024 13F
Filed Nov 12, 2024
|
215 | $292.7M |
|
Q2 2024 13F
Filed Aug 13, 2024
|
210 | $263.9M |
|
Q1 2024 13F
Filed May 13, 2024
|
211 | $262.9M |
|
Q4 2023 13F
Filed Feb 5, 2024
|
202 | $259.5M |
|
Q3 2023 13F
Filed Nov 9, 2023
|
206 | $249.2M |
|
Q2 2023 13F
Filed Aug 8, 2023
|
203 | $268.0M |
|
Q1 2023 13F
Filed May 9, 2023
|
201 | $257.4M |
|
Q4 2022 13F
Filed Feb 10, 2023
|
200 | $256.2M |
|
Q3 2022 13F
Filed Nov 8, 2022
|
197 | $240.3M |
|
Q2 2022 13F
Filed Aug 16, 2022
|
214 | $255.2M |
|
Q1 2022 13F
Filed May 12, 2022
|
223 | $322.8M |
|
Q4 2021 13F
Filed Feb 11, 2022
|
231 | $338.5M |
34 earlier quarters on file — choose one from the quarter menu above.
Top 20 holdings · Q2 2022
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | MMM 3M CO | $12.8M | 5.02% |
| 2 | IGSB ISHARES SHORT TERM CORPORATE B | $11.1M | 4.35% |
| 3 | MSFT MICROSOFT CORP COM | $8.9M | 3.48% |
| 4 | AAPL APPLE INC | $8.0M | 3.13% |
| 5 | EFR EATON VANCE SENIOR FLOATING-RA | $6.6M | 2.6% |
| 6 | JNJ JOHNSON & JOHNSON COM | $6.0M | 2.35% |
| 7 | NEAR BLACKROCK ISHARES SHORT MATURI | $4.3M | 1.68% |
| 8 | SPY SPDR S&P 500 ETF TRUST | $4.0M | 1.56% |
| 9 | MRK MERCK & CO INC (NEW) | $3.7M | 1.47% |
| 10 | TIP ISHARES TIPS BOND ETF | $3.7M | 1.44% |
| 11 | IVV ISHARES CORE S&P 500 INDEX FUN | $3.7M | 1.43% |
| 12 | V VISA INC CLASS A | $3.5M | 1.36% |
| 13 | CVX CHEVRON CORPORATION | $3.3M | 1.29% |
| 14 | TGT TARGET CORP | $3.2M | 1.24% |
| 15 | PEP PEPSICO INC COM | $3.1M | 1.22% |
| 16 | SPYD SPDR S&P 500 ETF HIGH DIVIDEND | $3.1M | 1.21% |
| 17 | GOOGL ALPHABET INC CL A | $3.1M | 1.2% |
| 18 | EFA ISHARES MSCI EAFE ETF | $2.6M | 1.02% |
| 19 | ABT ABBOTT LABS COM | $2.6M | 1.01% |
| 20 | GLD SPDR GOLD TRUST FUND | $2.4M | 0.96% |
Values as reported on the Q2 2022 Form 13F. Every position is in the holdings table below.