White Pine Capital Investment Activity: Significant Changes in Q2 2026 Portfolio
White Pine Capital's portfolio reached $409 million as of June 30, 2026. This report details notable purchases and sales observed during the quarter.
As of June 30, 2026, White Pine Capital Llc managed a substantial portfolio valued at $409 million. Their investment activity this quarter was characterized by both strategic additions to new positions and reductions from existing holdings. The firm appears focused on diversification while also capitalizing on significant movements in specific sectors, particularly evident through their recent transactions.
The analysis of White Pine Capital's portfolio changes reveals a dynamic approach to investing. They have established or significantly bolstered positions in several companies known for strong performance and innovation across various market caps and sectors. These include notable additions like TRISALUS LIFE SCIENCES INC (TLSI), FULL HOUSE RESORTS INC (FLL), ENOVIX CORP (ENVX), INFUSYSTEM HOLDINGS INC (INFU), BRC GROUP HOLDINGS INC (RILY), KORU MEDICAL SYSTEMS INC (KRMD), TELOS CORPORATION (TLS), ARLO TECHNOLOGIES INC (ARLO), and STARLING ONCOLOGY INC (TOI).
Investors interested in White Pine Capital's strategy can examine their significant holdings. For instance, they recently increased their stake in TRISALUS LIFE SCIENCES INC (TLSI) by 234%, making it a key position at just under 1% of the portfolio ($2.5 million). Similarly, FULL HOUSE RESORTS INC (FLL), holding approximately 0.6% ($2.4 million), saw its stake grow by nearly 70%. These moves suggest confidence in companies operating within niche areas like healthcare and consumer cyclical resorts.
Concurrently, White Pine Capital made substantial purchases elsewhere this quarter. Companies such as ENOVIX CORP (ENVX) at $1.2 million, INFUSYSTEM HOLDINGS INC (INFU) at $0.7 million, KORU MEDICAL SYSTEMS INC (KRMD) at $0.6 million, and STARLING ONCOLOGY INC (TOI) at just under $0.5 million represent new or significantly increased commitments that could diversify their exposure to specific industries.
On the other side of the transaction spectrum, White Pine Capital also demonstrated a willingness to exit positions this quarter. Notable examples include SERVE ROBOTICS INC (SERV) and LIMONEIRA CO (LMNR), both exiting entirely from their portfolios ($0.7 million and $0.4 million respectively). This action removes these companies completely from the investment thesis currently being followed by White Pine Capital.
Furthermore, they reduced positions in several established large-cap stocks including 3M CO (MMM) by 0.37%, APPLE INC (AAPL) by 0.74%, MICROSOFT CORP COM (MSFT) by 1.38%, and AMAZON.COM INC (AMZN) by 0.39%. These adjustments, while smaller in percentage terms than the new positions or exits, still indicate a level of portfolio rebalancing occurring.
In summary, White Pine Capital's investment activity this quarter involved both strategic growth through substantial increases and diversification via new position creation, alongside pruning their portfolio by exiting certain holdings. Their focus appears to span across various sectors including Technology (AXT Inc), Healthcare (TLSI, INFU, KRMD), Consumer Cyclical (FLL), Industrials (ENVX, ARLO), and others.