White Pine Investment CO
Long book
$430.4M
Q1 2026
Positions
67
Top-10 weight
38%
concentration
Last quarter
+8.6%
SPY +14.8%
Turnover
7%
of book per quarter
Strategy in plain words
auto-generated from filingsWhite Pine Investment CO is a wealth-management firm allocating client money, running a $430.4M US long book across 67 positions.
The portfolio is moderately concentrated (top 10 ≈ 38% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: BERKSHIRE HATHAWAY INC-CL B, ALPHABET INC-CL A, SCHWAB FNDMNTL US LRG CO ETF, GOLDMAN SACHS ACTIVEBETA INT, VANECK GOLD MINERS ETF.
Over the last 9 quarters its long book ran on average 1pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+0.6%
Q2 2024
+6.7%
Q3 2024
+0.2%
Q4 2024
+1.1%
Q1 2025
+6.4%
Q2 2025
+5.8%
Q3 2025
+1.8%
Q4 2025
+0.2%
Q1 2026
+8.6%
Sector allocation
Technology 33%
Financials 29%
Energy 11%
Consumer discretionary 8%
Industrials 6%
Utilities 4%
Healthcare 3%
Communications 3%
Long book by quarter
What does White Pine own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 67.9K | $32.5M | 7.6% | -2.0% |
| GOOGL ALPHABET INC-CL A | Technology | 80.6K | $23.2M | 5.4% | -4.3% |
| MPC MARATHON PETROLEUM CORP | Energy | 47.0K | $11.5M | 2.7% | -4.3% |
| AAPL APPLE INC | Technology | 39.9K | $10.1M | 2.4% | -4.2% |
| MSFT MICROSOFT CORP | Technology | 25.9K | $9.6M | 2.2% | -1.2% |
| META META PLATFORMS INC-CLASS A | Technology | 15.8K | $9.0M | 2.1% | -0.2% |
| JPM JPMORGAN CHASE & CO | Financials | 28.9K | $8.5M | 2.0% | -4.2% |
| AMZN AMAZON.COM INC | Consumer discretionary | 36.7K | $7.6M | 1.8% | +0.6% |
| CVX CHEVRON CORP | Energy | 36.0K | $7.4M | 1.7% | -7.5% |
| MS MORGAN STANLEY | Financials | 45.0K | $7.4M | 1.7% | -12.4% |
| NEE NEXTERA ENERGY INC | Utilities | 68.6K | $6.4M | 1.5% | +0.3% |
| SFM SPROUTS FARMERS MARKET INC | Consumer discretionary | 74.9K | $5.8M | 1.3% | -2.9% |
| CNI CANADIAN NATL RAILWAY CO | Industrials | 52.9K | $5.4M | 1.3% | +1.1% |
| LH LABCORP HOLDINGS INC | Healthcare | 18.0K | $4.8M | 1.1% | -1.9% |
| NVDA NVIDIA CORP | Technology | 26.8K | $4.7M | 1.1% | +2.5% |
| VZ VERIZON COMMUNICATIONS INC | Communications | 85.6K | $4.3M | 1.0% | -9.2% |
| HON HONEYWELL INTERNATIONAL INC | Industrials | 17.6K | $4.0M | 0.9% | -1.3% |
| PAYX PAYCHEX INC | Services media | 23.3K | $2.1M | 0.5% | -1.3% |
| PYPL PAYPAL HOLDINGS INC | Services media | 44.0K | $2.0M | 0.5% | +0.2% |
| EPD ENTERPRISE PRODUCTS PARTNERS | Utilities | 23.1K | $873K | 0.2% | Held |
| MRSH MARSH & MCLENNAN COS | Financials | 2.9K | $506K | 0.1% | -5.6% |
| TSLA TESLA INC | Industrials | 1.1K | $416K | 0.1% | +57.4% |
| JNJ JOHNSON & JOHNSON | Healthcare | 1.6K | $403K | 0.1% | -6.8% |
| ADP AUTOMATIC DATA PROCESSING | Technology | 1.9K | $377K | 0.1% | -11.9% |
| SOLS SOLSTICE ADV MATERIALS INC | Materials | 3.9K | $295K | 0.1% | -11.8% |
| F FORD MOTOR CO | Industrials | 24.4K | $282K | 0.1% | -5.6% |
| ABBV ABBVIE INC | Healthcare | 1.2K | $262K | 0.1% | -21.3% |
| DTE DTE ENERGY COMPANY | Utilities | 1.7K | $247K | 0.1% | +0.2% |
| SYK STRYKER CORP | Healthcare | 660 | $217K | 0.1% | Held |
| XOM EXXON MOBIL CORP | Energy | 1.2K | $210K | 0.0% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 20, 2026 | 68 | $430.4M | $K fixed canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 28, 2026 | 69 | $424.4M | $K fixed canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 14, 2025 | 67 | $421.5M | $K fixed canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 17, 2025 | 65 | $400.6M | $K fixed canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 23, 2025 | 64 | $371.4M | $K fixed canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 17, 2025 | 67 | $370.2M | $K fixed canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 29, 2024 | 64 | $364.46B | $K fixed canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 24, 2024 | 63 | $340.31B | $K fixed canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 26, 2024 | 63 | $338.61B | $K fixed canonical | SEC ↗ |