UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 2013
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Check here if Amendment |_|; Amendment Number:
This Amendment (Check only one.): |_| is a restatement.
|_| adds new holding entries.
Institutional Investment Manager Filing this Report:
Name: White Pine Capital, LLC
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Address: 60 South Sixth Street, Suite 2530
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Minneapolis, MN 55402
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Form 13F File Number: 28-06425
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The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Mike Wallace
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Title: Principal
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Phone: (612) 376-2961
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Signature, Place, and Date of Signing:
/s/ Mike Wallace Minneapolis, MN 05-13-2013
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[Signature] [City, State] [Date]
Report type (Check only one.):
|X| 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager
are reported in this report.)
|_| 13F NOTICE. (Check here if no holdings reported are in this report, and
all holdings are reported by other reporting manager (s).)
|_| 13F COMBINATION REPORT. (Check here is a portion of the holdings for this
reporting manager are reported in this report and a portion are reported
by other reporting manager(s).)
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
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Form 13F Information Table Entry Total: 237
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Form 13F Information Table Value Total: $269,391
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(thousands)
List of Other Included Managers:
Provide a numbered list of the names(s) and Form 13F file numbers(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
NONE
White Pine Capital, LLC
FORM 13F
31-Mar-13
Voting Authority
Title of Value Shares/ Sh/ Put/ Invstmt Other ---------------------------
Name of Issuer class CUSIP (x$1000) Prn Amt Prn Call Dscretn Managers Sole Shared None
------------------------------ --------- --------- -------- --------- --- ---- ------- -------- -------- ------ --------
AEGON NV 6.375% CALL 6/15/15 @ PFD 007924301 632 23975 SH Sole 6100 17875
BANK OF AMERICA 6.625% CALL 10 PFD 060505740 604 22000 SH Sole 2850 19150
GOLDMAN SACHS GP 5.95% CALL 11 PFD 38145G209 662 26150 SH Sole 5700 20450
ISHARES S&P US PFD STOCK PFD 464288687 1597 39410 SH Sole 7050 32360
MORGAN STANLEY CAP V PFD 5.75% PFD 617466206 786 31450 SH Sole 4200 27250
PNC FIN SERV GRP PFD 5.375 CAL PFD 693475832 990 38850 SH Sole 8500 30350
POWERSHARES PREFERRED PORTFOLI PFD 73936T565 168 11300 SH Sole 2000 9300
REGIONS FIN NEW 6.375% CALL 12 PFD 7591EP308 596 23350 SH Sole 5800 17550
3M CO COM 88579Y101 17341 163118 SH Sole 4685 158433
ABBOTT LABS COM COM 002824100 904 25590 SH Sole 6585 19005
ABBVIE INC COM 00287Y109 1047 25665 SH Sole 6585 19080
ACCENTURE PLC COM G1151C101 801 10548 SH Sole 6732 3816
AEROPOSTALE INC COM 007865108 1695 124625 SH Sole 67225 57400
AEROVIRONMENT INC COM 008073108 901 49675 SH Sole 26175 23500
AIR PRODUCTS & CHEMICAL COM 009158106 242 2775 SH Sole 500 2275
AIRBOSS OF AMERICA CORP COM 00927V200 98 20000 SH Sole 13000 7000
AKORN INC COM 009728106 179 12975 SH Sole 11475 1500
ALCATEL-LUCENT SPONSORED ADR COM 013904305 1392 1046275 SH Sole 533600 512675
ALLIANT ENERGY CORP COM 018802108 618 12317 SH Sole 2750 9567
ALLSTATE CORP COM COM 020002101 1428 29100 SH Sole 15750 13350
AMBARELLA INC COM G037AX101 241 15400 SH Sole 10325 5075
AMERICAN EAGLE OUTFITTERS COM 02553E106 1501 80275 SH Sole 32575 47700
AMERICAN RIVER BANKSHRS (CA) COM 029326105 164 21800 SH Sole 21800
ANGIODYNAMICS INC COM 03475V101 398 34850 SH Sole 25200 9650
ANNALY CAPITAL MANAGEMENT INC COM 035710409 1039 65365 SH Sole 26650 38715
APACHE CORP COM COM 037411105 1436 18606 SH Sole 7723 10883
APPLE INC COM 037833100 1640 3705 SH Sole 2045 1660
APPLIED MATERIALS INC COM 038222105 1331 98725 SH Sole 45400 53325
ARCH COAL INC COM 039380100 167 30775 SH Sole 21100 9675
ARMOUR RESIDENTIAL REIT INC COM 042315101 65 10000 SH Sole 10000
AT&T INC COM 00206R102 4096 111627 SH Sole 44253 67374
ATRICURE INC COM 04963C209 538 67950 SH Sole 43550 24400
AXCELIS TECHNOLOGIES INC COM 054540109 1642 1313200 SH Sole 683150 630050
BAKER HUGHES INC COM 057224107 1336 28784 SH Sole 15573 13211
BANK OF AMERICA CORP COM COM 060505104 940 77150 SH Sole 36500 40650
BANK OF COMMERCE HOLDINGS COM 06424J103 364 71025 SH Sole 47525 23500
BARRICK GOLD CORP COM 067901108 1707 58050 SH Sole 27750 30300
BAXTER INTERNATIONAL INC COM 071813109 519 7150 SH Sole 1050 6100
BB&T CORP COM 054937107 1878 59825 SH Sole 28875 30950
BERKSHIRE HATHAWAY INC CL B COM 084670702 615 5900 SH Sole 5900
BIOSCRIP INC COM 09069N108 947 74500 SH Sole 45800 28700
BLOUNT INTL INC COM 095180105 214 15975 SH Sole 9600 6375
BOEING CO COM COM 097023105 1599 18625 SH Sole 10225 8400
BRISTOL MYERS SQUIBB COM COM 110122108 3524 85545 SH Sole 38375 47170
BROADCOM CORPORATION COM 111320107 3324 95845 SH Sole 46925 48920
BUNGE INC COM G16962105 1616 21885 SH Sole 10000 11885
C H ROBINSON WORLDWIDE COM COM 12541W209 396 6660 SH Sole 1150 5510
CALAVO GROWERS COM 128246105 2397 83300 SH Sole 39375 43925
CHATHAM LODGING TRUST COM 16208T102 545 30925 SH Sole 28175 2750
CHEVRON CORPORATION COM 166764100 5299 44600 SH Sole 17893 26707
CHICO'S FAS INC COM 168615102 460 27400 SH Sole 8250 19150
CISCO SYS INC COM COM 17275R102 908 43450 SH Sole 39200 4250
CITIGROUP INC COM COM 172967424 469 10604 SH Sole 5300 5304
COASTAL CONTACTS INC COM 19044R207 218 34800 SH Sole 14450 20350
COCA COLA CO COM COM 191216100 610 15090 SH Sole 2800 12290
COEUR D'ALENE MINES COM 192108504 703 37250 SH Sole 14425 22825
COLGATE-PALMOLIVE CO COM 194162103 549 4650 SH Sole 1250 3400
CORELOGIC INC COM 21871D103 262 10150 SH Sole 8400 1750
COSTCO WHOLESALE CORP COM 22160K105 350 3300 SH Sole 925 2375
COVIDIEN PLC COM G2554F113 1486 21900 SH Sole 9700 12200
CRAY INC COM 225223304 561 24150 SH Sole 12050 12100
CSX CORP COM COM 126408103 223 9072 SH Sole 1692 7380
CUBIC CORP COM 229669106 1528 35775 SH Sole 20850 14925
CVS CAREMARK CORP COM 126650100 4757 86500 SH Sole 36750 49750
CYBEROPTICS CORP COM COM 232517102 163 26525 SH Sole 2300 24225
DARLING INTL INC COM 237266101 1947 108425 SH Sole 60575 47850
DATALINK CORP COM 237934104 1135 93925 SH Sole 35425 58500
DESTINATION XL GROUP INC COM 25065K104 382 75125 SH Sole 65250 9875
DIGITALGLOBE INC COM 25389M877 4324 149582 SH Sole 87737 61845
DONALDSON INC COM COM 257651109 441 12180 SH Sole 3000 9180
E M C CORP MASS COM COM 268648102 2266 94857 SH Sole 45447 49410
EATON CORP PLC COM G29183103 235 3829 SH Sole 679 3150
EBAY INC COM 278642103 3206 59125 SH Sole 24775 34350
ECOLAB INC COM 278865100 2241 27950 SH Sole 13100 14850
EMCORE CORPORATION COM 290846203 208 35700 SH Sole 23200 12500
EMERSON ELEC CO COM COM 291011104 708 12666 SH Sole 3075 9591
ENCANA CORP COM 292505104 913 46900 SH Sole 19900 27000
ENERGEN CORP COM 29265N108 345 6625 SH Sole 6000 625
ENERGY XXI (BERMUDA) LTD COM G10082140 291 10690 SH Sole 8700 1990
ENERGYTEC INC COM 29275M108 0 57700 SH Sole 57700
ENTEGRIS INC (DE) COM 29362U104 397 40275 SH Sole 25475 14800
ENTEROMEDICS INC COM 29365M208 384 383750 SH Sole 127500 256250
EOG RES INC COM COM 26875P101 341 2660 SH Sole 100 2560
EQUINIX INC COM 29444U502 2254 10420 SH Sole 4050 6370
EXTREME NETWORKS INC COM 30226D106 1796 532875 SH Sole 281450 251425
EXXON MOBIL CORP COM COM 30231G102 7044 78167 SH Sole 32285 45882
F5 NETWORKS INC COM 315616102 1218 13675 SH Sole 6675 7000
FLOW INTERNATIONAL CORP COM 343468104 788 201550 SH Sole 130400 71150
FREEPORT-MCMORAN COPPER COM 35671D857 1903 57495 SH Sole 25350 32145
GENERAL DYNAMICS CO COM 369550108 342 4847 SH Sole 997 3850
GENERAL ELEC CO COM COM 369604103 3813 164942 SH Sole 79114 85828
GENERAL MILLS INC COM 370334104 607 12320 SH Sole 3100 9220
GENTHERM INC COM 37253A103 618 37725 SH Sole 23075 14650
GOOGLE INC COM 38259P508 2122 2672 SH Sole 997 1675
GULFMARK OFFSHORE INC COM 402629208 423 10850 SH Sole 7650 3200
HB FULLER COM 359694106 267 6825 SH Sole 4050 2775
HEALTHWAYS INC COM 422245100 190 15500 SH Sole 14075 1425
HONEYWELL INTL INC COM COM 438516106 2744 36423 SH Sole 18171 18252
HORMEL FOODS CORP COM COM 440452100 3361 81339 SH Sole 37100 44239
HOT TOPIC COM 441339108 288 20750 SH Sole 13025 7725
HUNTINGTON BANCSHARES INC COM 446150104 1009 136850 SH Sole 63750 73100
IBERIABANK CORP COM 450828108 940 18795 SH Sole 11495 7300
ILLINOIS TOOL WKS INC COM COM 452308109 424 6956 SH Sole 2206 4750
IMAGE SENSING SYSTEMS COM 45244C104 197 42600 SH Sole 21100 21500
INNERWORKINGS INC COM 45773Y105 811 53550 SH Sole 33200 20350
INNODATA INC COM 457642205 270 78150 SH Sole 35250 42900
INPHI CORP COM 45772F107 451 43125 SH Sole 24850 18275
INSTEEL INDUSTRIES COM 45774W108 204 12525 SH Sole 6825 5700
INTEGRATED DEVICE TECH INC COM 458118106 323 43175 SH Sole 27025 16150
INTEGRATED SILICON SOLUTION COM 45812P107 271 29600 SH Sole 21100 8500
INTEGRYS ENERGY GROUP COM 45822P105 291 5000 SH Sole 1400 3600
INTEL CORP COM COM 458140100 2972 136103 SH Sole 62865 73238
INTERNAP NETWORK SERVICES CORP COM 45885A300 180 19225 SH Sole 11700 7525
INTERNATIONAL BUS MACH COM COM 459200101 1040 4874 SH Sole 3910 964
INTL FLAVORS & FRAGRANCES COM 459506101 385 5025 SH Sole 650 4375
JOHNSON & JOHNSON COM COM 478160104 6903 84663 SH Sole 34394 50269
JPMORGAN CHASE & CO COM 46625H100 1370 28873 SH Sole 14135 14738
KEYCORP NEW COM COM 493267108 982 98557 SH Sole 41000 57557
KIMBERLY CLARK CORP COM COM 494368103 227 2314 SH Sole 562 1752
KOHLS CORP COM COM 500255104 852 18475 SH Sole 8150 10325
LAM RESEARCH CORP COM 512807108 857 20675 SH Sole 11725 8950
LIGAND PHARMACEUTICA COM 53220K504 448 16825 SH Sole 10250 6575
LIMONEIRA CO COM 532746104 492 25475 SH Sole 9275 16200
LIONBRIDGE TECHNOLOGIES INC COM 536252109 277 71650 SH Sole 47500 24150
LIVEPERSON INC COM 538146101 168 12350 SH Sole 10275 2075
MARATHON OIL CORP COM 565849106 1981 58750 SH Sole 27050 31700
MARATHON PETROLEUM CORP COM 56585A102 511 5700 SH Sole 1450 4250
MCDONALDS CORP COM COM 580135101 1942 19480 SH Sole 8080 11400
MCMORAN EXPLORATION CO COM 582411104 987 60375 SH Sole 41425 18950
MEADWESTVACO CORP COM 583334107 932 25675 SH Sole 12350 13325
MEDGENICS INC COM 58436Q203 97 20000 SH Sole 20000
MEDNAX INC COM 58502B106 1143 12750 SH Sole 6925 5825
MERCK & CO INC (NEW) COM 58933Y105 3686 83388 SH Sole 38003 45385
METHODE ELECTRONICS INC COM 591520200 318 24725 SH Sole 14600 10125
MGE ENERGY INC COM 55277P104 379 6829 SH Sole 2977 3852
MICROSOFT CORP COM COM 594918104 4494 157105 SH Sole 68900 88205
MITCHAM INDUSTRIES COM 606501104 1078 63725 SH Sole 38950 24775
MITEK SYSTEMS INC COM 606710200 814 173924 SH Sole 38100 135824
MORGAN STANLEY COM 617446448 754 34300 SH Sole 19000 15300
MULTIBAND CORP COM 62544X209 1277 521350 SH Sole 285300 236050
NAVARRE CORPORATION COM 639208107 861 379390 SH Sole 163875 215515
NEOPHOTONICS CORP COM 64051T100 879 172000 SH Sole 89825 82175
NEXTERA ENERGY INC COM 65339F101 435 5600 SH Sole 1600 4000
NOKIA CORP -SPON ADR COM 654902204 37 11150 SH Sole 11150
NVE CORP COM 629445206 206 3650 SH Sole 2700 950
OCWEN FINANCIAL COM 675746309 557 14700 SH Sole 13150 1550
OMEGA PROTEIN CORP COM 68210P107 445 41375 SH Sole 22500 18875
OMNICELL INC COM 68213N109 1328 70350 SH Sole 41075 29275
ONEOK PARTNERS LP COM 68268N103 316 5500 SH Sole 3000 2500
ORACLE CORPORATION COM 68389x105 450 13929 SH Sole 5979 7950
OREILLY AUTOMOTIVE INC NEW COM 67103H107 1076 10500 SH Sole 6000 4500
PACIFIC PREMIER BANCORP INC COM 69478X105 442 33625 SH Sole 21625 12000
PARKERVISION COM 701354102 308 84400 SH Sole 36400 48000
PEOPLES UNITED FINANCIAL COM 712704105 1081 80525 SH Sole 37850 42675
PEPSICO INC COM COM 713448108 4546 57461 SH Sole 23011 34450
PERFICIENT COM 71375U101 295 25300 SH Sole 21075 4225
PFIZER INC COM COM 717081103 311 10767 SH Sole 2991 7776
PHILIP MORRIS INTERNATIONAL COM 718172109 1450 15635 SH Sole 9300 6335
PLX TECHNOLOGY INC COM 693417107 267 58550 SH Sole 31450 27100
PNC FINANCIAL SERVICES GROUP I COM 693475105 1606 24150 SH Sole 12375 11775
PPG INDS INC COM COM 693506107 301 2250 SH Sole 200 2050
PRGX GLOBAL INC COM 69357C503 521 74950 SH Sole 50200 24750
PROCTER & GAMBLE CO COM 742718109 2404 31191 SH Sole 14026 17165
QUALCOMM INC COM 747525103 1778 26565 SH Sole 15265 11300
RAYMOND JAMES FINANCIAL COM 754730109 2360 51200 SH Sole 26050 25150
RED LION HOTELS CORP COM 756764106 190 26750 SH Sole 14000 12750
ROYAL DUTCH SHELL CL A COM 780259206 244 3740 SH Sole 700 3040
RTI BIOLOGICS INC COM 74975N105 646 164275 SH Sole 98300 65975
RUDOLPH TECHNOLOGIES COM 781270103 398 33825 SH Sole 14150 19675
SAJAN INC COM 79379T103 9 10000 SH Sole 10000
SCHLUMBERGER LTD COM COM 806857108 610 8148 SH Sole 2008 6140
SCIENTIFIC GAMES INC COM 80874P109 1040 118800 SH Sole 63550 55250
SCIO DIAMOND TECHNOLOGY CORP COM 808831101 198 225000 SH Sole 225000
SILICON MOTION TECHNOLOGY COM 82706C108 1053 89950 SH Sole 47225 42725
SKYWORKS SOLUTIONS INC COM 83088M102 3530 160275 SH Sole 69550 90725
SM ENERGY CO COM 78454L100 1059 17875 SH Sole 4925 12950
SNYDER-LANCE INC COM 833551104 229 9075 SH Sole 8300 775
STAGE STORES INC COM 85254C305 1046 40400 SH Sole 23825 16575
STAMPS.COM INC COM 852857200 511 20450 SH Sole 12900 7550
STRYKER CORP COM 863667101 338 5175 SH Sole 5175
SUN BANCORP NJ COM 86663B102 102 30000 SH Sole 30000
SVB FINANCIAL GROUP COM 78486Q101 1729 24375 SH Sole 12525 11850
SYKES ENTERPRISES COM 871237103 311 19455 SH Sole 10325 9130
SYMANTEC CORP COM 871503108 295 11950 SH Sole 800 11150
SYNERGETICS USA INC COM 87160G107 1222 352100 SH Sole 193300 158800
TARGET CORP COM 87612E106 3176 46405 SH Sole 23925 22480
TCF FINL CORP COM COM 872275102 588 39314 SH Sole 16473 22841
TECK RESOURCES LTD COM 878742204 487 17300 SH Sole 10600 6700
TELETECH HLDGS INC COM COM 879939106 744 35100 SH Sole 21300 13800
TELUS CORPORATION COM 87971M103 748 10825 SH Sole 2300 8525
TEVA PHARMACEUTICALS COM 881624209 2101 52950 SH Sole 24725 28225
TIMKEN COMPANY COM 887389104 440 7775 SH Sole 1350 6425
TITAN INTL INC ILL COM 88830M102 427 20275 SH Sole 13000 7275
TRANSGENOMIC INC COM 89365K206 378 957655 SH Sole 270850 686805
TRAVELERS COMPANIES INC COM 89417E109 4468 53075 SH Sole 18660 34415
UMPQUA HOLDINGS INC COM 904214103 1657 124950 SH Sole 66575 58375
UNI-PIXEL INC COM 904572203 1505 49100 SH Sole 13600 35500
UNIT CORP COM 909218109 2930 64333 SH Sole 36975 27358
UNITED STATES STEEL COM 912909108 210 10750 SH Sole 2800 7950
UNITED TECHNOLOGIES CP COM COM 913017109 1822 19505 SH Sole 10655 8850
UROPLASTY INC COM 917277204 341 137100 SH Sole 72500 64600
US BANCORP COM 902973304 1081 31859 SH Sole 10322 21537
USA TECHNOLOGIES INC COM 90328S500 411 156775 SH Sole 105700 51075
VALSPAR CORP COM 920355104 339 5450 SH Sole 100 5350
VASCULAR SOLUTIONS INC COM 92231M109 453 27925 SH Sole 16650 11275
VEECO INSTRUMENTS COM 922417100 1206 31400 SH Sole 16500 14900
VERIZON COMMUNICATIONS COM 92343V104 4771 97069 SH Sole 42836 54233
VERTEX ENERGY INC COM 92534K107 212 65900 SH Sole 28700 37200
VISA INC CLASS A COM 92826C839 2925 17225 SH Sole 7300 9925
VITESSE SEMICONDUCTOR COM COM 928497304 37 17000 SH Sole 17000
WAL MART STORES INC COM COM 931142103 812 10852 SH Sole 1730 9122
WALGREEN CO COM COM 931422109 291 6100 SH Sole 2700 3400
WALTER ENERGY INC COM 93317Q105 700 24575 SH Sole 12050 12525
WELLS FARGO & COMPANY COM 949746101 1570 42454 SH Sole 18104 24350
WET SEAL INC COM 961840105 1452 480900 SH Sole 278375 202525
WEYERHAEUSER CO COM COM 962166104 711 22651 SH Sole 3050 19601
WINMARK CORP COM 974250102 556 8828 SH Sole 1400 7428
XCEL ENERGY INC COM 98389B100 2614 88026 SH Sole 40850 47176
YUM! BRANDS INC COM 988498101 888 12350 SH Sole 6300 6050
ZIMMER HOLDINGS INC COM 98956P102 310 4125 SH Sole 250 3875
ZIX CORPORATION COM 98974P100 190 53025 SH Sole 29900 23125
ISHARES CORE S&P 500 INDEX FUN 464287200 225 1430 SH Sole 1430
ISHARES RUSSELL 2000 GROWTH IN 464287648 1232 11450 SH Sole 9050 2400
ISHARES RUSSELL 2000 INDEX FUN 464287655 203 2155 SH Sole 1400 755
ISHARES RUSSELL MIDCAP INDEX F 464287499 333 2620 SH Sole 700 1920
ISHARES TRUST DJ SELECT DIVIDE 464287168 239 3773 SH Sole 523 3250
SPDR S&P 500 ETF TRUST 78462F103 2665 17013 SH Sole 3220 13793
SPDR S&P DIVIDEND ETF 78464A763 594 9000 SH Sole 9000
UTILITIES SELECT SECTOR SPDR E 81369Y886 254 6490 SH Sole 1340 5150
FIDELITY SPARTAN 500 INDEX FUN 315911701 1394 24967.35 SH Sole 24967.35
ENTEROMEDICS WARRANTS 1.14 EXP 29365M165 0 42000 SH Sole 42000
ENTEROMEDICS WARRANTS 1.90 EXP 29365M117 0 20000 SH Sole 20000
ENTEROMEDICS WARRANTS 2.19 EXP 293993309 0 30000 SH Sole 30000
MEDGENICS WARRANTS EXP 6.78 2/ 58436Q120 0 20000 SH Sole 20000
PREMIER ALLIANCE GRP WTS 1.125 pimo.wts 0 66667 SH Sole 66667
TRANSGENOMIC INC WARRANTS .75 tbio2.wts 0 50000 SH Sole 50000
TRANSGENOMIC INC WARRANTS 1.08 tbio3.wts 0 144675 SH Sole 144675