CIK: 0001318259
Total reported value
$430.4M
Reporting period: 2026-03-31 · Number of holdings: 68
White Pine Investment CO disclosed 68 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $430.4M and a quarterly turnover rate of 10.4%.
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White Pine Investment CO's disclosed holdings carry a Herfindahl concentration index of 0.027 — mathematically equivalent to about 37 equally-sized positions, well below its 68 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.91), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 33% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim GOOGL
-4.3% -$3.2M
Add MPC
-4.3% $3.5M
Trim MSFT
-1.2% -$3.1M
Trim BRK-B
-2.0% -$2.3M
Trim MS
-12.4% -$1.7M
Trim META
-0.2% -$1.4M
Showing top 67 holdings (of 68 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 7.56% | -0.64% | -1.96% | |
| 2 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 5.38% | -0.83% | -4.28% | |
| 3 | FNDX | Schwab Fndmntl US Lrg Co ETF | ETF-Other | 3.92% | +0.14% | +2.60% | |
| 4 | GSIE | Goldman Sachs Activebeta Int | ETF-Commodities | 3.69% | -0.09% | -1.34% | |
| 5 | GDX | Vaneck Gold Miners ETF | ETF-Commodities | 3.29% | +0.13% | -1.17% | |
| 6 | FLTR | Vaneck Ig Floating Rate ETF | ETF-Other | 3.29% | +0.09% | +4.18% | |
| 7 | USMV | Ishares Msci USA Min Vol Fac | ETF-Other | 2.80% | -0.10% | -0.89% | |
| 8 | MPC | Marathon Petroleum CORP | Stock-Energy | 2.67% | +0.79% | -4.33% | |
| 9 | SCHR | Schwab Intermediate-term US | ETF-Other | 2.66% | +0.08% | +5.26% | |
| 10 | JAAA | Janus Henderson Aaa Clo ETF | ETF-Other | 2.59% | +0.26% | +13.03% | |
| 11 | TIP | Ishares Tips Bond ETF | ETF-Other | 2.50% | +0.05% | +3.31% | |
| 12 | IJK | Ishares S&p Mid-cap 400 Grow | ETF-Other | 2.37% | +0.06% | +0.29% | |
| 13 | AAPL | Apple INC | Stock-Tech | 2.35% | -0.32% | -4.25% | |
| 14 | SCHV | Schwab US Large-cap Value | ETF-Other | 2.31% | +0.02% | -0.78% | |
| 15 | MSFT | Microsoft CORP | Stock-Tech | 2.22% | -0.76% | -1.17% | |
| 16 | JUST | Goldman Sachs Just US Lrg | ETF-Commodities | 2.18% | -0.14% | -0.06% | |
| 17 | DON | Wisdomtree US Midcap Dividen | ETF-Other | 2.14% | +0.03% | +1.19% | |
| 18 | META | Meta Platforms Inc-class A | Stock-Comm Services | 2.10% | -0.36% | -0.25% | |
| 19 | GIGB | Goldman Sachs Inv Grd CORP | ETF-Commodities | 1.98% | — | -0.20% | |
| 20 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.98% | -0.31% | -4.22% | |
| 21 | HDEF | Xtrackers Msci Eafe High Div | ETF-Other | 1.85% | — | -2.59% | |
| 22 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 1.79% | — | +6.08% | |
| 23 | AMZN | Amazon.com INC | Stock-Consumer Disc | 1.78% | -0.21% | +0.56% | |
| 24 | IJR | Ishares Core S&p Small-cap E | ETF-Small Cap | 1.76% | — | -1.62% | |
| 25 | SCHM | Schwab US Mid Cap ETF | ETF-Other | 1.75% | +0.07% | +2.74% | |
| 26 | IEF | Ishares 7-10 Year Treasury B | ETF-Gov Bonds | 1.74% | +0.14% | +10.70% | |
| 27 | CVX | Chevron CORP | Stock-Energy | 1.73% | +0.33% | -7.49% | |
| 28 | MS | Morgan Stanley | Stock-Financials | 1.72% | -0.43% | -12.41% | |
| 29 | AVUV | Avantis US Small Cap Value | ETF-Small Cap | 1.67% | +0.14% | +2.29% | |
| 30 | ILCG | Ishares Morningstar Growth E | ETF-Other | 1.62% | -0.06% | +6.77% | |
| 31 | AVLV | Avantis US Large Cap Value | ETF-Large Cap & Growth | 1.58% | +0.11% | +2.31% | |
| 32 | PYLD | Pimco Multisector Bond Actv | ETF-Other | 1.57% | +1.57% | NEW | |
| 33 | DGRW | Wisdomtree U.s. Quality Divi | ETF-Other | 1.51% | — | +3.04% | |
| 34 | NEE | Nextera Energy INC | Stock-Utilities | 1.48% | +0.18% | +0.27% | |
| 35 | EFG | Ishares Msci Eafe Growth ETF | ETF-Other | 1.46% | — | +1.22% | |
| 36 | SFM | Sprouts Farmers Market INC | Stock-Consumer Staples | 1.34% | -0.11% | -2.94% | |
| 37 | AVEM | Avantis Emerging Markets Eq | ETF-Emerging Markets | 1.30% | +0.18% | +12.79% | |
| 38 | CNI | Canadian Natl Railway Co | Stock-Industrials | 1.26% | +0.04% | +1.07% | |
| 39 | FIW | First Trust Water ETF | ETF-Other | 1.15% | -0.06% | +1.30% | |
| 40 | AMLP | Alerian Mlp ETF | ETF-Other | 1.13% | +0.10% | -0.74% | |
| 41 | LH | Labcorp Holdings INC | Stock-Healthcare | 1.12% | +0.03% | -1.93% | |
| 42 | NVDA | Nvidia CORP | Stock-Tech | 1.09% | -0.06% | +2.50% | |
| 43 | VZ | Verizon Communications INC | Stock-Comm Services | 1.00% | +0.10% | -9.16% | |
| 44 | HON | Honeywell International INC | Stock-Industrials | 0.93% | +0.11% | -1.25% | |
| 45 | QQQE | Dirx Nasdaq-100eq Wi Etf-usd | ETF-Tech | 0.85% | — | +7.57% | |
| 46 | XLE | Ss Energy Select Sector | ETF-Other | 0.55% | +0.14% | -0.40% | |
| 47 | PAYX | Paychex INC | Stock-Tech | 0.50% | -0.12% | -1.32% | |
| 48 | PYPL | Paypal Holdings INC | Stock-Financials | 0.46% | -0.14% | +0.19% | |
| 49 | XLI | Ss Industrial Select Sector | ETF-Other | 0.42% | +0.09% | +24.90% | |
| 50 | SCHF | Schwab Intl Equity ETF | ETF-Other | 0.35% | — | -2.53% |
Performance for Q3 2026
+3%
Performance Last 4 Quarters
+20.4%
Based on 73% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 68 | $430.4M | 10 | |
| 2025-12-31 | 69 | $424.4M | 10 | |
| 2025-09-30 | 67 | $421.5M | 27 | |
| 2025-06-30 | 65 | $400.6M | 0 | |
| 2025-03-31 | 64 | $371.4M | 100 | |
| 2024-12-31 | 67 | $370.2M | 0 | |
| 2024-09-30 | 64 | $364.5M | 0 | |
| 2024-06-30 | 63 | $340.3M | 0 | |
| 2024-03-31 | 63 | $338.6M | 0 | |
| 2023-12-31 | 60 | $309.9M | 0 | |
| 2023-09-30 | 59 | $284.5M | 0 | |
| 2023-06-30 | 61 | $289.9M | 0 | |
| 2023-03-31 | 61 | $278.4M | 0 | |
| 2022-12-31 | 60 | $262.9M | 0 | |
| 2022-09-30 | 61 | $241.4M | 0 | |
| 2022-06-30 | 60 | $253.1M | 0 | |
| 2022-03-31 | 59 | $294.4M | 0 | |
| 2021-12-31 | 58 | $300.5M | 0 | |
| 2021-09-30 | 58 | $286.0M | 0 | |
| 2021-06-30 | 58 | $290.3M | 96 | |
| 2021-03-31 | 57 | $269.3M | 14 | |
| 2020-12-31 | 53 | $246.9M | 16 | |
| 2020-09-30 | 54 | $217.3M | 11 | |
| 2020-06-30 | 53 | $202.6M | 30 | |
| 2020-03-31 | 52 | $174.5M | 49 | |
| 2019-12-31 | 66 | $244.0M | 12 | |
| 2019-09-30 | 60 | $220.2M | 13 | |
| 2019-06-30 | 57 | $211.7M | 17 | |
| 2019-03-31 | 55 | $199.8M | 16 | |
| 2018-12-31 | 51 | $187.0M | 26 | |
| 2018-09-30 | 52 | $208.8M | 20 | |
| 2018-06-30 | 50 | $192.9M | 33 | |
| 2018-03-31 | 54 | $204.7M | 16 | |
| 2017-12-31 | 55 | $202.6M | 15 | |
| 2017-09-30 | 55 | $188.1M | 10 | |
| 2017-06-30 | 56 | $187.7M | 12 | |
| 2017-03-31 | 54 | $185.5M | 10 | |
| 2016-12-31 | 57 | $184.7M | 15 | |
| 2016-09-30 | 56 | $170.5M | 9 | |
| 2016-06-30 | 57 | $166.8M | 8 | |
| 2016-03-31 | 57 | $164.3M | 21 | |
| 2015-12-31 | 57 | $162.3M | 16 | |
| 2015-09-30 | 57 | $155.9M | 19 | |
| 2015-06-30 | 55 | $171.7M | 13 | |
| 2015-03-31 | 57 | $175.0M | 20 | |
| 2014-12-31 | 53 | $171.9M | 12 | |
| 2014-09-30 | 50 | $165.6M | 13 | |
| 2014-06-30 | 52 | $165.7M | 10 | |
| 2014-03-31 | 52 | $156.0M | 18 | |
| 2013-12-31 | 53 | $146.3M | 14 | |
| 2013-09-30 | 49 | $131.7M | 16 | |
| 2013-06-30 | 50 | $125.8M | 0 |
White Pine Investment CO's most significant position changes for 2026-03-31: New buy: Pimco Multisector Bond Actv (PYLD); Sold out: Invesco Russell 1000 Dyn M/f (OMFL); New buy: Exxon Mobil CORP (XOM); Sold out: Visa Inc-class A Shares (V); Sold out: Shopify INC - Class A (SHOP).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MPC | Marathon Petroleum CORP | +0.8% | -4.33% | Trim |
| 2 | CVX | Chevron CORP | +0.3% | -7.49% | Trim |
| 3 | JAAA | Janus Henderson Aaa Clo ETF | +0.3% | +13.03% | Add |
| 4 | NEE | Nextera Energy INC | +0.2% | +0.27% | Add |
| 5 | AVEM | Avantis Emerging Markets Eq | +0.2% | +12.79% | Add |
| 6 | FNDX | Schwab Fndmntl US Lrg Co ETF | +0.1% | +2.60% | Add |
| 7 | AVUV | Avantis US Small Cap Value | +0.1% | +2.29% | Add |
| 8 | IEF | Ishares 7-10 Year Treasury B | +0.1% | +10.70% | Add |
| 9 | XLE | Ss Energy Select Sector | +0.1% | -0.40% | Trim |
| 10 | GDX | Vaneck Gold Miners ETF | +0.1% | -1.17% | Trim |
| 11 | AVLV | Avantis US Large Cap Value | +0.1% | +2.31% | Add |
| 12 | HON | Honeywell International INC | +0.1% | -1.25% | Trim |
| 13 | AMLP | Alerian Mlp ETF | +0.1% | -0.74% | Trim |
| 14 | VZ | Verizon Communications INC | +0.1% | -9.16% | Trim |
| 15 | FLTR | Vaneck Ig Floating Rate ETF | +0.1% | +4.18% | Add |
| 16 | XLI | Ss Industrial Select Sector | +0.1% | +24.90% | Add |
| 17 | SCHR | Schwab Intermediate-term US | +0.1% | +5.26% | Add |
| 18 | SCHM | Schwab US Mid Cap ETF | +0.1% | +2.74% | Add |
| 19 | IJK | Ishares S&p Mid-cap 400 Grow | +0.1% | +0.29% | Add |
| 20 | TIP | Ishares Tips Bond ETF | +0.1% | +3.31% | Add |
| 21 | CNI | Canadian Natl Railway Co | 0% | +1.07% | Add |
| 22 | DON | Wisdomtree US Midcap Dividen | 0% | +1.19% | Add |
| 23 | LH | Labcorp Holdings INC | 0% | -1.93% | Trim |
| 24 | EPD | Enterprise Products Partners | 0% | — | Unchanged |
| 25 | SCHV | Schwab US Large-cap Value | 0% | -0.78% | Trim |
| 26 | HDEF | Xtrackers Msci Eafe High Div | — | -2.59% | Trim |
| 27 | SHY | Ishares 1-3 Year Treasury Bo | 0% | -26.70% | Trim |
| 28 | ADP | Automatic Data Processing | 0% | -11.86% | Trim |
| 29 | NVDA | Nvidia CORP | -0.1% | +2.50% | Add |
| 30 | FIW | First Trust Water ETF | -0.1% | +1.30% | Add |
| 31 | ILCG | Ishares Morningstar Growth E | -0.1% | +6.77% | Add |
| 32 | GSIE | Goldman Sachs Activebeta Int | -0.1% | -1.34% | Trim |
| 33 | USMV | Ishares Msci USA Min Vol Fac | -0.1% | -0.89% | Trim |
| 34 | SFM | Sprouts Farmers Market INC | -0.1% | -2.94% | Trim |
| 35 | PAYX | Paychex INC | -0.1% | -1.32% | Trim |
| 36 | PYPL | Paypal Holdings INC | -0.1% | +0.19% | Add |
| 37 | JUST | Goldman Sachs Just US Lrg | -0.1% | -0.06% | Trim |
| 38 | AMZN | Amazon.com INC | -0.2% | +0.56% | Add |
| 39 | JPM | Jpmorgan Chase & Co | -0.3% | -4.22% | Trim |
| 40 | AAPL | Apple INC | -0.3% | -4.25% | Trim |
| 41 | META | Meta Platforms Inc-class A | -0.4% | -0.25% | Trim |
| 42 | MS | Morgan Stanley | -0.4% | -12.41% | Trim |
| 43 | BRK-B | Berkshire Hathaway Inc-cl B | -0.6% | -1.96% | Trim |
| 44 | MSFT | Microsoft CORP | -0.8% | -1.17% | Trim |
| 45 | GOOGL | Alphabet Inc-cl A | -0.8% | -4.28% | Trim |
| 46 | PYLD | Pimco Multisector Bond Actv | — | NEW | New buy |
| 47 | OMFL | Invesco Russell 1000 Dyn M/f | — | EXIT | Sold out |
| 48 | XOM | Exxon Mobil CORP | — | NEW | New buy |
| 49 | V | Visa Inc-class A Shares | — | EXIT | Sold out |
| 50 | SHOP | Shopify INC - Class A | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-04-20 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-01-28 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-17 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-04-23 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-01-17 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-10-29 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-07-24 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-04-26 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-01-26 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-10-27 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-04 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-04-14 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-03 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-10-28 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-07-29 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-06 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-01-28 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-05 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-06 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-03 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-01-22 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-02 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-13 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-04-23 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-01-27 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-12 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-01 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-04-23 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-06 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-10-18 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-06 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-07 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-01-24 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-10-31 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-07-18 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-08 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-06 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-04 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-05 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-09 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-09 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-06 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-03 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-04 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-04 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-06 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-06 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-02 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-01-27 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-10-24 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-07-18 | 13F-HR | View on EDGAR |
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