White Pine Capital Llc
- Regulatory AUM
- $431M
- Discretionary
- $431M
- Clients
- 84
- Avg AUM / client
- $5.1M
- Accounts
- 353
- Employees
- 7
AUM over time
Annual snapshots from Form ADV filings · as of Mar 31, 2026
Investments (13F portfolio — 228 positions, $355,231,268)
13F period Mar 31, 2026| # | Issuer | Class | Value | Shares | % of 13F | % of AUM |
|---|---|---|---|---|---|---|
| 1 | 3 M Co | COM | $14,204,075 | 97,804 | 4.0% | 3.3% |
| 2 | Apple Inc | COM | $13,160,789 | 51,857 | 3.7% | 3.06% |
| 3 | Microsoft Corp Com | COM | $11,434,276 | 30,889 | 3.22% | 2.66% |
| 4 | Ishares Core S&P 500 Index Fun | COM | $9,883,306 | 15,130 | 2.78% | 2.3% |
| 5 | Alphabet Inc Cl A | COM | $7,621,490 | 26,504 | 2.15% | 1.77% |
| 6 | Johnson & Johnson Com | COM | $6,302,786 | 25,785 | 1.77% | 1.46% |
| 7 | Amazon.Com Inc | COM | $6,182,495 | 29,685 | 1.74% | 1.44% |
| 8 | Spdr Gold Trust Fund | GOLD | $6,126,293 | 14,238 | 1.72% | 1.42% |
| 9 | Spdr S&P 500 Etf Trust | COM | $6,071,262 | 9,336 | 1.71% | 1.41% |
| 10 | Jpmorgan Chase & Co | COM | $5,669,787 | 19,275 | 1.6% | 1.32% |
| 11 | Axt Inc | COM | $5,590,801 | 98,119 | 1.57% | 1.3% |
| 12 | Ge Aerospace | COM | $5,558,039 | 19,586 | 1.56% | 1.29% |
| 13 | Walmart Inc | COM | $5,369,269 | 43,203 | 1.51% | 1.25% |
| 14 | Ishares Floating Rate Bond Etf | COM | $4,833,576 | 94,869 | 1.36% | 1.12% |
| 15 | Visa Inc Class A | COM | $4,590,138 | 15,187 | 1.29% | 1.07% |
| 16 | Merck & Co Inc (New) | COM | $4,204,166 | 34,950 | 1.18% | 0.98% |
| 17 | Nvidia Corp | COM | $4,186,123 | 24,003 | 1.18% | 0.97% |
| 18 | Ishares Tr Pfd And Income Sec | PFD | $4,119,606 | 135,871 | 1.16% | 0.96% |
| 19 | Chevron Corporation | COM | $3,963,341 | 19,156 | 1.12% | 0.92% |
| 20 | Alphabet Inc Cl C | COM | $3,847,079 | 13,411 | 1.08% | 0.89% |
| 21 | Adtran Holdings Inc Com | COM | $3,703,162 | 294,369 | 1.04% | 0.86% |
| 22 | International Bus Mach Com | COM | $3,577,194 | 14,758 | 1.01% | 0.83% |
| 23 | Wells Fargo & Company | COM | $3,487,936 | 43,813 | 0.98% | 0.81% |
| 24 | Standex International Corp | COM | $3,437,042 | 13,486 | 0.97% | 0.8% |
| 25 | Ceco Environmental Corp | COM | $3,378,603 | 56,707 | 0.95% | 0.78% |
Top 25 of 228 positions from the manager's latest Form 13F · source filing (EDGAR) ↗. 13F covers long US-listed positions only. "% of AUM" is share of the firm's total regulatory AUM (Form ADV Item 5.F).
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Individuals (non-high net worth) | 9 | $6.1M | 1.41% |
| High net worth individuals | 70 | $329M | 76.3% |
| Pension and profit sharing plans | Fewer than 5 clients | $3.7M | 0.87% |
| Charitable organizations | Fewer than 5 clients | $12.0M | 2.78% |
| Other | 5 | $80.1M | 18.6% |
Private funds (1)
Reported in Form ADV Section 7.B.(1), filing of Oct 2024 · $7.8M combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Itasca Capital Partners Llc | Hedge Fund | Delaware | $7.8M | 15 |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| Best & Flanagan Llp 401(k) Profit Sharing Plan Best & Flanagan Llp | 2024 |
People (4)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Michael Scott Wallace | Managing Member | CFA | May 2006 (20y) | 25% – 50% |
| Hardy, Barbara, Jean | Chief Compliance Officer | Mar 2008 (18y) | 10% – 25% | |
| Timothy Francis Madey | Managing Member | Jun 2013 (13y) | 25% – 50% | |
| Charles Sanger Bellows | Registered representative | Jan 2014 (13y) |
Undisclosed: 0% – 40% of the firm is not attributable from the filed Schedule A bands.
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (1, $7.8M gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Itasca Capital Partners Llc | Hedge Fund | $7.8M | $500K | 15 |
From Form ADV Section 7.B private fund reporting.
Retirement plans served (1)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| Best & Flanagan Llp 401(k) Profit Sharing Plan | Best & Flanagan Llp | 80 | $68.7M | 01/01/2024 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/31/2026 | 1.24 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Fixed fees
Services
- • Portfolio management for individuals/small businesses
- • Portfolio management for businesses/institutional clients
Custody
Reported custodians
- Fidelity Brokerage Services $358M (83% of AUM) Mar 2026
- Charles Schwab & Co. $49.3M (11% of AUM) Mar 2026
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 31, 2026.
View current Form ADV (SEC/IAPD) ↗