# EDGAR Filing Document

**Accession Number:** 0001137429
**File Stem:** 0001137429-25-000004
**Filing Date:** 2025-8
**Character Count:** 24959
**Document Hash:** dff30d010b1682715e8b4ede4c2f3da6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001137429-25-000004.hdr.sgml**: 20250812

**ACCESSION NUMBER**: 0001137429-25-000004

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250812

**DATE AS OF CHANGE**: 20250812

**EFFECTIVENESS DATE**: 20250812

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WHITE PINE CAPITAL LLC
- **CENTRAL INDEX KEY:** 0001137429

**ORGANIZATION NAME:**
- **EIN:** 411933144
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-06425
- **FILM NUMBER:** 251205168

**BUSINESS ADDRESS:**
- **STREET 1:** 3800 AMERICAN BLVD W
- **STREET 2:** SUITE 645
- **CITY:** BLOOMINGTON
- **STATE:** MN
- **ZIP:** 55431
- **BUSINESS PHONE:** 6123769765

**MAIL ADDRESS:**
- **STREET 1:** 3800 AMERICAN BLVD W
- **STREET 2:** SUITE 645
- **CITY:** BLOOMINGTON
- **STATE:** MN
- **ZIP:** 55431

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** WHITE PINE CAPITAL LLC<br>**Address:** 3800 AMERICAN BLVD W<br>SUITE 645<br>BLOOMINGTON, MN 55431

**Form 13F File Number:** 028-06425

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:** Barbara J. Hardy<br>**Title:** CCO  Partner<br>**Phone:** 612-376-2981

**Signature, Place, and Date of Signing:**

/s/ Barbara J Hardy  Bloomington, MN  08-12-2025<br>[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 are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if 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

**Form 13F Information Table Entry Total:** 221

**Form 13F Information Table Value Total:** $315058887

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ISHARES TIPS BOND ETF | COM | 464287176 |  | 266478 | 2422 | SH |  | SOLE |  | 0 | 0 | 2422 |
| ISHARES FLOATING RATE BOND ETF | COM | 46429B655 |  | 4190018 | 82125 | SH |  | SOLE |  | 0 | 0 | 82125 |
| ISHARES IBOXX HIGH YLD CORPORA | COM | 464288513 |  | 324616 | 4025 | SH |  | SOLE |  | 0 | 0 | 4025 |
| ISHARES IBOXX INV GRADE CORP B | COM | 464287242 |  | 718110 | 6552 | SH |  | SOLE |  | 0 | 0 | 6552 |
| ISHARES SHORT TERM CORPORATE B | COM | 464288646 |  | 1174121 | 22254 | SH |  | SOLE |  | 0 | 0 | 22254 |
| ISHARES SHORT TERM NATL AMT-FR | COM | 464288158 |  | 432272 | 4065 | SH |  | SOLE |  | 0 | 0 | 4065 |
| BLACKROCK ISHARES SHORT MATURI | COM | 46431W507 |  | 1283479 | 25117 | SH |  | SOLE |  | 0 | 0 | 25117 |
| EATON VANCE SENIOR FLOATING-RA | COM | 27828Q105 |  | 4131833 | 340910 | SH |  | SOLE |  | 0 | 0 | 340910 |
| VANECK FALLEN ANGEL HIGH YLD | COM | 92189F437 |  | 1247357 | 42601 | SH |  | SOLE |  | 0 | 0 | 42601 |
| INVESCO PREFERRED PORTFOLIO | PFD | 46138E511 |  | 2194758 | 197193 | SH |  | SOLE |  | 0 | 0 | 197193 |
| ISHARES TR PFD AND INCOME SEC | PFD | 464288687 |  | 4421041 | 144102 | SH |  | SOLE |  | 0 | 0 | 144102 |
| 3M CO | COM | 88579Y101 |  | 14905666 | 97909 | SH |  | SOLE |  | 0 | 0 | 97909 |
| ABBOTT LABS COM | COM | 002824100 |  | 2652217 | 19500 | SH |  | SOLE |  | 0 | 0 | 19500 |
| ABBVIE INC | COM | 00287Y109 |  | 1071584 | 5773 | SH |  | SOLE |  | 0 | 0 | 5773 |
| ADTRAN HOLDINGS INC COM | COM | 00486H105 |  | 2067092 | 230445 | SH |  | SOLE |  | 0 | 0 | 230445 |
| ADVANCED MICRO DEVICES | COM | 007903107 |  | 1104266 | 7782 | SH |  | SOLE |  | 0 | 0 | 7782 |
| AEHR TEST SYSTEMS | COM | 00760J108 |  | 377453 | 29192 | SH |  | SOLE |  | 0 | 0 | 29192 |
| AEROVIRONMENT INC | COM | 008073108 |  | 846871 | 2972 | SH |  | SOLE |  | 0 | 0 | 2972 |
| AIR PRODUCTS  CHEMICAL | COM | 009158106 |  | 368088 | 1305 | SH |  | SOLE |  | 0 | 0 | 1305 |
| ALLIANT ENERGY CORP | COM | 018802108 |  | 660857 | 10929 | SH |  | SOLE |  | 0 | 0 | 10929 |
| ALLIENT INC COM | COM | 019330109 |  | 625186 | 17218 | SH |  | SOLE |  | 0 | 0 | 17218 |
| ALLSTATE CORP COM | COM | 020002101 |  | 1918518 | 9530 | SH |  | SOLE |  | 0 | 0 | 9530 |
| ALPHABET INC CL A | COM | 02079K305 |  | 4696177 | 26648 | SH |  | SOLE |  | 0 | 0 | 26648 |
| ALPHABET INC CL C | COM | 02079K107 |  | 2380751 | 13421 | SH |  | SOLE |  | 0 | 0 | 13421 |
| AMAZON.COM INC | COM | 023135106 |  | 6317774 | 28797 | SH |  | SOLE |  | 0 | 0 | 28797 |
| AMBARELLA INC | COM | G037AX101 |  | 974128 | 14745 | SH |  | SOLE |  | 0 | 0 | 14745 |
| AMERICAN OUTDOOR BRANDS INC. | COM | 02875D109 |  | 726014 | 69475 | SH |  | SOLE |  | 0 | 0 | 69475 |
| AMGEN INC COM | COM | 031162100 |  | 330305 | 1183 | SH |  | SOLE |  | 0 | 0 | 1183 |
| ANGIODYNAMICS INC | COM | 03475V101 |  | 645594 | 65080 | SH |  | SOLE |  | 0 | 0 | 65080 |
| APPLE INC | COM | 037833100 |  | 10724647 | 52272 | SH |  | SOLE |  | 0 | 0 | 52272 |
| APPLIED OPTOELECTRONICS INC | COM | 03823U102 |  | 313649 | 12209 | SH |  | SOLE |  | 0 | 0 | 12209 |
| ARLO TECHNOLOGIES INC | COM | 04206A101 |  | 581321 | 34276 | SH |  | SOLE |  | 0 | 0 | 34276 |
| ARTERIS INC | COM | 04302A104 |  | 516364 | 54183 | SH |  | SOLE |  | 0 | 0 | 54183 |
| ASTRONICS CORP | COM | 046433108 |  | 2413573 | 72090 | SH |  | SOLE |  | 0 | 0 | 72090 |
| AT INC | COM | 00206R102 |  | 2458357 | 84947 | SH |  | SOLE |  | 0 | 0 | 84947 |
| AVIAT NETWORKS INC COM | COM | 05366Y201 |  | 676118 | 28113 | SH |  | SOLE |  | 0 | 0 | 28113 |
| AXCELIS TECHNOLOGIES INC | COM | 054540208 |  | 480861 | 6900 | SH |  | SOLE |  | 0 | 0 | 6900 |
| AXOGEN INC | COM | 05463X106 |  | 508366 | 46854 | SH |  | SOLE |  | 0 | 0 | 46854 |
| AXT INC | COM | 00246W103 |  | 1798258 | 860411 | SH |  | SOLE |  | 0 | 0 | 860411 |
| BANK OF AMERICA CORP COM | COM | 060505104 |  | 2027567 | 42848 | SH |  | SOLE |  | 0 | 0 | 42848 |
| BERKSHIRE HATHAWAY INC CL B | COM | 084670702 |  | 1017202 | 2094 | SH |  | SOLE |  | 0 | 0 | 2094 |
| BEST BUY INC COM | COM | 086516101 |  | 203404 | 3030 | SH |  | SOLE |  | 0 | 0 | 3030 |
| BOEING CO COM | COM | 097023105 |  | 1962668 | 9367 | SH |  | SOLE |  | 0 | 0 | 9367 |
| BRISTOL MYERS SQUIBB COM | COM | 110122108 |  | 787162 | 17005 | SH |  | SOLE |  | 0 | 0 | 17005 |
| BROADCOM INC | COM | 11135F101 |  | 835220 | 3030 | SH |  | SOLE |  | 0 | 0 | 3030 |
| BUTTERFLY NETWORK INC | COM | 124155102 |  | 263586 | 131793 | SH |  | SOLE |  | 0 | 0 | 131793 |
| C H ROBINSON WORLDWIDE COM | COM | 12541W209 |  | 322200 | 3358 | SH |  | SOLE |  | 0 | 0 | 3358 |
| CARDINAL HEALTH INC COM | COM | 14149Y108 |  | 262332 | 1562 | SH |  | SOLE |  | 0 | 0 | 1562 |
| CECO ENVIRONMENTAL CORP | COM | 125141101 |  | 1853088 | 65457 | SH |  | SOLE |  | 0 | 0 | 65457 |
| CHEVRON CORPORATION | COM | 166764100 |  | 2762970 | 19296 | SH |  | SOLE |  | 0 | 0 | 19296 |
| CIGNA CORP | COM | 125523100 |  | 251571 | 761 | SH |  | SOLE |  | 0 | 0 | 761 |
| CISCO SYS INC COM | COM | 17275R102 |  | 2062696 | 29730 | SH |  | SOLE |  | 0 | 0 | 29730 |
| CITIGROUP INC COM | COM | 172967424 |  | 1784243 | 20962 | SH |  | SOLE |  | 0 | 0 | 20962 |
| CLEAN ENERGY FUELS CORP | COM | 184499101 |  | 292557 | 150029 | SH |  | SOLE |  | 0 | 0 | 150029 |
| CLEARFIELD INC | COM | 18482P103 |  | 341941 | 7877 | SH |  | SOLE |  | 0 | 0 | 7877 |
| COCA COLA CO COM | COM | 191216100 |  | 281302 | 3976 | SH |  | SOLE |  | 0 | 0 | 3976 |
| CODEXIS INC | COM | 192005106 |  | 336108 | 137749 | SH |  | SOLE |  | 0 | 0 | 137749 |
| COHERENT CORP COM | COM | 19247G107 |  | 358981 | 4024 | SH |  | SOLE |  | 0 | 0 | 4024 |
| COLGATE-PALMOLIVE CO | COM | 194162103 |  | 279578 | 3076 | SH |  | SOLE |  | 0 | 0 | 3076 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 257644 | 2871 | SH |  | SOLE |  | 0 | 0 | 2871 |
| CORE MOLDING TECHNOLOGIES INC | COM | 218683100 |  | 411283 | 24791 | SH |  | SOLE |  | 0 | 0 | 24791 |
| COSTCO WHOLESALE CORP | COM | 22160K105 |  | 697908 | 705 | SH |  | SOLE |  | 0 | 0 | 705 |
| DANAHER CORP | COM | 235851102 |  | 690205 | 3494 | SH |  | SOLE |  | 0 | 0 | 3494 |
| DISNEY WALT CO COM | COM | 254687106 |  | 909675 | 7336 | SH |  | SOLE |  | 0 | 0 | 7336 |
| DONALDSON INC COM | COM | 257651109 |  | 1416196 | 20421 | SH |  | SOLE |  | 0 | 0 | 20421 |
| DUKE ENERGY CORP COM | COM | 26441C204 |  | 230572 | 1954 | SH |  | SOLE |  | 0 | 0 | 1954 |
| EASTERN BANKSHARES INC | COM | 27627N105 |  | 1294453 | 84771 | SH |  | SOLE |  | 0 | 0 | 84771 |
| EBAY INC | COM | 278642103 |  | 687377 | 9232 | SH |  | SOLE |  | 0 | 0 | 9232 |
| ECOLAB INC | COM | 278865100 |  | 2797191 | 10382 | SH |  | SOLE |  | 0 | 0 | 10382 |
| ELECTROMED INC | COM | 285409108 |  | 799051 | 36337 | SH |  | SOLE |  | 0 | 0 | 36337 |
| ELI LILLY CO | COM | 532457108 |  | 257245 | 330 | SH |  | SOLE |  | 0 | 0 | 330 |
| EMERSON ELEC CO COM | COM | 291011104 |  | 2927461 | 21957 | SH |  | SOLE |  | 0 | 0 | 21957 |
| ENBRIDGE INC | COM | 29250N105 |  | 547738 | 12086 | SH |  | SOLE |  | 0 | 0 | 12086 |
| ENERGY FUELS INC | COM | 292671708 |  | 627572 | 109143 | SH |  | SOLE |  | 0 | 0 | 109143 |
| ENERGY SELECT SECTOR SPDR ETF | COM | 81369Y506 |  | 887197 | 10461 | SH |  | SOLE |  | 0 | 0 | 10461 |
| ENERGY TRANSFER LP | COM | 29273V100 |  | 381274 | 21030 | SH |  | SOLE |  | 0 | 0 | 21030 |
| ENOVIX CORP | COM | 293594107 |  | 756216 | 73135 | SH |  | SOLE |  | 0 | 0 | 73135 |
| ENTERPRISE PRODUCTS PARTNERS L | COM | 293792107 |  | 472472 | 15236 | SH |  | SOLE |  | 0 | 0 | 15236 |
| EOG RES INC COM | COM | 26875P101 |  | 496023 | 4147 | SH |  | SOLE |  | 0 | 0 | 4147 |
| EQUINIX INC COM NEW | COM | 29444U700 |  | 2576130 | 3239 | SH |  | SOLE |  | 0 | 0 | 3239 |
| EVENTBRITE INC-CLASS A | COM | 29975E109 |  | 232958 | 88577 | SH |  | SOLE |  | 0 | 0 | 88577 |
| EXXON MOBIL CORP COM | COM | 30231G102 |  | 2015843 | 18700 | SH |  | SOLE |  | 0 | 0 | 18700 |
| FIRST WATCH RESTAURANT GROUP | COM | 33748L101 |  | 406806 | 25362 | SH |  | SOLE |  | 0 | 0 | 25362 |
| FULL HOUSE RESORTS INC | COM | 359678109 |  | 677488 | 185106 | SH |  | SOLE |  | 0 | 0 | 185106 |
| GE AEROSPACE | COM | 369604301 |  | 5074810 | 19716 | SH |  | SOLE |  | 0 | 0 | 19716 |
| GE HEALTHCARE TECHNOLOGIES INC | COM | 36266G107 |  | 574407 | 7755 | SH |  | SOLE |  | 0 | 0 | 7755 |
| GE VERNOVA INC COM | COM | 36828A101 |  | 1470508 | 2779 | SH |  | SOLE |  | 0 | 0 | 2779 |
| GENERAL DYNAMICS CO | COM | 369550108 |  | 258119 | 885 | SH |  | SOLE |  | 0 | 0 | 885 |
| GENERAL MILLS INC | COM | 370334104 |  | 1239986 | 23933 | SH |  | SOLE |  | 0 | 0 | 23933 |
| GENIUS SPORTS LTD | COM | G3934V109 |  | 2538151 | 244053 | SH |  | SOLE |  | 0 | 0 | 244053 |
| GILEAD SCIENCES | COM | 375558103 |  | 325958 | 2940 | SH |  | SOLE |  | 0 | 0 | 2940 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 271068 | 383 | SH |  | SOLE |  | 0 | 0 | 383 |
| HARMONIC INC | COM | 413160102 |  | 647492 | 68373 | SH |  | SOLE |  | 0 | 0 | 68373 |
| HILLMAN SOLUTIONS INC | COM | 431636109 |  | 680856 | 95358 | SH |  | SOLE |  | 0 | 0 | 95358 |
| HOME DEPOT INC COM | COM | 437076102 |  | 567559 | 1548 | SH |  | SOLE |  | 0 | 0 | 1548 |
| HONEYWELL INTL INC COM | COM | 438516106 |  | 2613497 | 11223 | SH |  | SOLE |  | 0 | 0 | 11223 |
| HORMEL FOODS CORP COM | COM | 440452100 |  | 853081 | 28201 | SH |  | SOLE |  | 0 | 0 | 28201 |
| HUBBELL INC | COM | 443510607 |  | 780063 | 1910 | SH |  | SOLE |  | 0 | 0 | 1910 |
| HUNTINGTON BANCSHARES INC | COM | 446150104 |  | 323032 | 19274 | SH |  | SOLE |  | 0 | 0 | 19274 |
| ILLINOIS TOOL WKS INC COM | COM | 452308109 |  | 1767343 | 7148 | SH |  | SOLE |  | 0 | 0 | 7148 |
| INFUSYSTEM HOLDINGS INC | COM | 45685K102 |  | 637659 | 102189 | SH |  | SOLE |  | 0 | 0 | 102189 |
| INNODATA INC | COM | 457642205 |  | 428148 | 8359 | SH |  | SOLE |  | 0 | 0 | 8359 |
| INTEL CORP COM | COM | 458140100 |  | 575154 | 25677 | SH |  | SOLE |  | 0 | 0 | 25677 |
| INTERNATIONAL BUS MACH COM | COM | 459200101 |  | 4324128 | 14669 | SH |  | SOLE |  | 0 | 0 | 14669 |
| INTL FLAVORS  FRAGRANCES | COM | 459506101 |  | 276646 | 3761 | SH |  | SOLE |  | 0 | 0 | 3761 |
| ISHARES US TECHNOLOGY ETF | COM | 464287721 |  | 248123 | 1432 | SH |  | SOLE |  | 0 | 0 | 1432 |
| JOHNSON  JOHNSON COM | COM | 478160104 |  | 4019707 | 26316 | SH |  | SOLE |  | 0 | 0 | 26316 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 5612513 | 19360 | SH |  | SOLE |  | 0 | 0 | 19360 |
| KEARNY FINANCIAL CORP | COM | 48716P108 |  | 1113805 | 172416 | SH |  | SOLE |  | 0 | 0 | 172416 |
| KENVUE INC | COM | 49177J102 |  | 1117997 | 53416 | SH |  | SOLE |  | 0 | 0 | 53416 |
| KIMBERLY CLARK CORP COM | COM | 494368103 |  | 347032 | 2692 | SH |  | SOLE |  | 0 | 0 | 2692 |
| KINDER MORGAN INC | COM | 49456B101 |  | 385728 | 13120 | SH |  | SOLE |  | 0 | 0 | 13120 |
| KOPIN TECHNOLOGY | COM | 500600101 |  | 217505 | 142160 | SH |  | SOLE |  | 0 | 0 | 142160 |
| KORU MEDICAL SYSTEMS INC | COM | 759910102 |  | 807022 | 225425 | SH |  | SOLE |  | 0 | 0 | 225425 |
| KRAFT/HEINZ CO | COM | 500754106 |  | 759031 | 29397 | SH |  | SOLE |  | 0 | 0 | 29397 |
| LABCORP HOLDINGS INC COM | COM | 504922105 |  | 395078 | 1505 | SH |  | SOLE |  | 0 | 0 | 1505 |
| LEGACY EDUCATION INC | COM | 52474R207 |  | 918359 | 82143 | SH |  | SOLE |  | 0 | 0 | 82143 |
| LIMONEIRA CO | COM | 532746104 |  | 1040615 | 66493 | SH |  | SOLE |  | 0 | 0 | 66493 |
| LOWES COS INC COM | COM | 548661107 |  | 278225 | 1254 | SH |  | SOLE |  | 0 | 0 | 1254 |
| MARATHON PETROLEUM CORP | COM | 56585A102 |  | 250826 | 1510 | SH |  | SOLE |  | 0 | 0 | 1510 |
| MAXLINEAR INC CL A | COM | 57776J100 |  | 675671 | 47549 | SH |  | SOLE |  | 0 | 0 | 47549 |
| MCDONALDS CORP COM | COM | 580135101 |  | 1427835 | 4887 | SH |  | SOLE |  | 0 | 0 | 4887 |
| MEDTRONIC PLC | COM | G5960L103 |  | 579506 | 6648 | SH |  | SOLE |  | 0 | 0 | 6648 |
| MERCK  CO INC (NEW) | COM | 58933Y105 |  | 2921103 | 36901 | SH |  | SOLE |  | 0 | 0 | 36901 |
| META PLATFORMS INC | COM | 30303M102 |  | 3294834 | 4464 | SH |  | SOLE |  | 0 | 0 | 4464 |
| METLIFE INC | COM | 59156R108 |  | 257987 | 3208 | SH |  | SOLE |  | 0 | 0 | 3208 |
| MICROSOFT CORP COM | COM | 594918104 |  | 15193515 | 30545 | SH |  | SOLE |  | 0 | 0 | 30545 |
| MITEK SYSTEMS INC | COM | 606710200 |  | 1084743 | 109570 | SH |  | SOLE |  | 0 | 0 | 109570 |
| MOODY'S CORP | COM | 615369105 |  | 517641 | 1032 | SH |  | SOLE |  | 0 | 0 | 1032 |
| MORGAN STANLEY | COM | 617446448 |  | 2228405 | 15820 | SH |  | SOLE |  | 0 | 0 | 15820 |
| MOVING IMAGE TECHNOLOGIES INC | COM | 62464R109 |  | 16205 | 25360 | SH |  | SOLE |  | 0 | 0 | 25360 |
| NATURAL GAS SERVICES GROUP | COM | 63886Q109 |  | 1358200 | 52623 | SH |  | SOLE |  | 0 | 0 | 52623 |
| NEOGENOMICS INC | COM | 64049M209 |  | 205316 | 28087 | SH |  | SOLE |  | 0 | 0 | 28087 |
| NETFLIX INC | COM | 64110L106 |  | 990956 | 740 | SH |  | SOLE |  | 0 | 0 | 740 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 284900 | 4104 | SH |  | SOLE |  | 0 | 0 | 4104 |
| NVIDIA CORP | COM | 67066G104 |  | 3341962 | 21153 | SH |  | SOLE |  | 0 | 0 | 21153 |
| ORACLE CORPORATION | COM | 68389X105 |  | 2476714 | 11328 | SH |  | SOLE |  | 0 | 0 | 11328 |
| OREILLY AUTOMOTIVE INC NEW | COM | 67103H107 |  | 466423 | 5175 | SH |  | SOLE |  | 0 | 0 | 5175 |
| OSHKOSH CORPORATION | COM | 688239201 |  | 460178 | 4053 | SH |  | SOLE |  | 0 | 0 | 4053 |
| PAYPAL HOLDINGS INC | COM | 70450Y103 |  | 971028 | 13066 | SH |  | SOLE |  | 0 | 0 | 13066 |
| PEPSICO INC COM | COM | 713448108 |  | 2253395 | 17066 | SH |  | SOLE |  | 0 | 0 | 17066 |
| PERFORMANT HEALTHCARE INC | COM | 71377E105 |  | 918724 | 229681 | SH |  | SOLE |  | 0 | 0 | 229681 |
| PFIZER INC COM | COM | 717081103 |  | 343707 | 14179 | SH |  | SOLE |  | 0 | 0 | 14179 |
| PNC FINANCIAL SERVICES GROUP I | COM | 693475105 |  | 885495 | 4750 | SH |  | SOLE |  | 0 | 0 | 4750 |
| POSTAL REALTY TRUST INC - A | COM | 73757R102 |  | 924396 | 62756 | SH |  | SOLE |  | 0 | 0 | 62756 |
| PROCTER  GAMBLE CO | COM | 742718109 |  | 1495882 | 9389 | SH |  | SOLE |  | 0 | 0 | 9389 |
| PUBLIC STORAGE INC | COM | 74460D109 |  | 462723 | 1577 | SH |  | SOLE |  | 0 | 0 | 1577 |
| RADNET INC | COM | 750491102 |  | 2147897 | 37742 | SH |  | SOLE |  | 0 | 0 | 37742 |
| RAYMOND JAMES FINANCIAL | COM | 754730109 |  | 2227508 | 14524 | SH |  | SOLE |  | 0 | 0 | 14524 |
| RED VIOLET INC | COM | 75704L104 |  | 749956 | 15243 | SH |  | SOLE |  | 0 | 0 | 15243 |
| REDWIRE CORP | COM | 75776W103 |  | 648479 | 39784 | SH |  | SOLE |  | 0 | 0 | 39784 |
| RESEARCH SOLUTIONS INC | COM | 761025105 |  | 342862 | 119464 | SH |  | SOLE |  | 0 | 0 | 119464 |
| RIBBON COMMUNICATIONS INC | COM | 762544104 |  | 1680018 | 418957 | SH |  | SOLE |  | 0 | 0 | 418957 |
| RIOT PLATFORMS INC | COM | 767292105 |  | 1166420 | 103223 | SH |  | SOLE |  | 0 | 0 | 103223 |
| ROPER INDUSTRIES INC | COM | 776696106 |  | 1346245 | 2375 | SH |  | SOLE |  | 0 | 0 | 2375 |
| RTX CORP | COM | 75513E101 |  | 1138495 | 7797 | SH |  | SOLE |  | 0 | 0 | 7797 |
| SALESFORCE.COM INC | COM | 79466L302 |  | 878607 | 3222 | SH |  | SOLE |  | 0 | 0 | 3222 |
| SHAKE SHACK INC - CLASS A | COM | 819047101 |  | 700329 | 4981 | SH |  | SOLE |  | 0 | 0 | 4981 |
| SIMON PROPERTY GROUP INC | COM | 828806109 |  | 562499 | 3499 | SH |  | SOLE |  | 0 | 0 | 3499 |
| SITIME CORP | COM | 82982T106 |  | 1145518 | 5376 | SH |  | SOLE |  | 0 | 0 | 5376 |
| SKYWORKS SOLUTIONS INC | COM | 83088M102 |  | 907244 | 12175 | SH |  | SOLE |  | 0 | 0 | 12175 |
| SOLVENTUM CORP | COM | 83444M101 |  | 1915946 | 25263 | SH |  | SOLE |  | 0 | 0 | 25263 |
| SPDR KBW REGIONAL BANKING ETF | COM | 78464A698 |  | 674670 | 11360 | SH |  | SOLE |  | 0 | 0 | 11360 |
| STANDEX INTERNATIONAL CORP | COM | 854231107 |  | 2373332 | 15167 | SH |  | SOLE |  | 0 | 0 | 15167 |
| STARBUCKS CORP | COM | 855244109 |  | 368902 | 4026 | SH |  | SOLE |  | 0 | 0 | 4026 |
| STRAWBERRY FIELDS REIT INCV | COM | 863182101 |  | 755349 | 71665 | SH |  | SOLE |  | 0 | 0 | 71665 |
| STRYKER CORP | COM | 863667101 |  | 407499 | 1030 | SH |  | SOLE |  | 0 | 0 | 1030 |
| TARGET CORP | COM | 87612E106 |  | 2027265 | 20550 | SH |  | SOLE |  | 0 | 0 | 20550 |
| TELOS CORPORATION | COM | 87969B101 |  | 795955 | 251090 | SH |  | SOLE |  | 0 | 0 | 251090 |
| TELUS CORPORATION | COM | 87971M103 |  | 317715 | 19783 | SH |  | SOLE |  | 0 | 0 | 19783 |
| TENNANT CO | COM | 880345103 |  | 299073 | 3860 | SH |  | SOLE |  | 0 | 0 | 3860 |
| TESLA INC | COM | 88160R101 |  | 1085762 | 3418 | SH |  | SOLE |  | 0 | 0 | 3418 |
| TEXAS INSTRUMENTS INC | COM | 882508104 |  | 380360 | 1832 | SH |  | SOLE |  | 0 | 0 | 1832 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 240032 | 592 | SH |  | SOLE |  | 0 | 0 | 592 |
| TITAN MACHINERY | COM | 88830R101 |  | 425856 | 21497 | SH |  | SOLE |  | 0 | 0 | 21497 |
| TRANSCAT INC | COM | 893529107 |  | 874643 | 10175 | SH |  | SOLE |  | 0 | 0 | 10175 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 2753924 | 10294 | SH |  | SOLE |  | 0 | 0 | 10294 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 338799 | 1086 | SH |  | SOLE |  | 0 | 0 | 1086 |
| US BANCORP | COM | 902973304 |  | 488632 | 10799 | SH |  | SOLE |  | 0 | 0 | 10799 |
| UTILITIES SELECT SECTOR SPDR E | COM | 81369Y886 |  | 731020 | 8952 | SH |  | SOLE |  | 0 | 0 | 8952 |
| VERIZON COMMUNICATIONS | COM | 92343V104 |  | 1783251 | 41212 | SH |  | SOLE |  | 0 | 0 | 41212 |
| VIAVI SOLUTIONS INC | COM | 925550105 |  | 774675 | 76929 | SH |  | SOLE |  | 0 | 0 | 76929 |
| VISA INC CLASS A | COM | 92826C839 |  | 5340541 | 15042 | SH |  | SOLE |  | 0 | 0 | 15042 |
| WABTEC CORP | COM | 929740108 |  | 534994 | 2556 | SH |  | SOLE |  | 0 | 0 | 2556 |
| WALMART INC | COM | 931142103 |  | 4176086 | 42709 | SH |  | SOLE |  | 0 | 0 | 42709 |
| WELLS FARGO  COMPANY | COM | 949746101 |  | 3359618 | 41932 | SH |  | SOLE |  | 0 | 0 | 41932 |
| WESTERN NEW ENGLAND BANCORP IN | COM | 958892101 |  | 1552984 | 168254 | SH |  | SOLE |  | 0 | 0 | 168254 |
| WINMARK CORP | COM | 974250102 |  | 613616 | 1625 | SH |  | SOLE |  | 0 | 0 | 1625 |
| WYNN RESORTS LTD | COM | 983134107 |  | 270706 | 2890 | SH |  | SOLE |  | 0 | 0 | 2890 |
| XCEL ENERGY INC | COM | 98389B100 |  | 1382771 | 20305 | SH |  | SOLE |  | 0 | 0 | 20305 |
| YUM! BRANDS INC | COM | 988498101 |  | 200043 | 1350 | SH |  | SOLE |  | 0 | 0 | 1350 |
| INVESCO QQQ TRUST UNIT SER 1 | COM | 46090E103 |  | 646246 | 1172 | SH |  | SOLE |  | 0 | 0 | 1172 |
| ISHARES CORE HIGH DIVIDEND ETF | COM | 46429B663 |  | 1101984 | 9405 | SH |  | SOLE |  | 0 | 0 | 9405 |
| ISHARES CORE S 500 INDEX FUN | COM | 464287200 |  | 9614864 | 15485 | SH |  | SOLE |  | 0 | 0 | 15485 |
| ISHARES CORE S MID CAP | COM | 464287507 |  | 206837 | 3335 | SH |  | SOLE |  | 0 | 0 | 3335 |
| ISHARES CORE S SMALLCAP ETF | COM | 464287804 |  | 672680 | 6155 | SH |  | SOLE |  | 0 | 0 | 6155 |
| ISHARES CORE S US VALUE ETF | COM | 464287663 |  | 1027493 | 10858 | SH |  | SOLE |  | 0 | 0 | 10858 |
| ISHARES RUSSELL 2000 ETF | COM | 464287655 |  | 1043345 | 4835 | SH |  | SOLE |  | 0 | 0 | 4835 |
| ISHARES RUSSELL MID-CAP GROWTH | COM | 464287481 |  | 695064 | 5012 | SH |  | SOLE |  | 0 | 0 | 5012 |
| ISHARES RUSSELL MIDCAP ETF | COM | 464287499 |  | 1831491 | 19914 | SH |  | SOLE |  | 0 | 0 | 19914 |
| ISHARES S 500 GROWTH ETF | COM | 464287309 |  | 1712716 | 15556 | SH |  | SOLE |  | 0 | 0 | 15556 |
| ISHARES S 500 VALUE ETF | COM | 464287408 |  | 1326202 | 6786 | SH |  | SOLE |  | 0 | 0 | 6786 |
| SPDR PORT S 600 SMALL CAP ET | COM | 78468R853 |  | 708651 | 16635 | SH |  | SOLE |  | 0 | 0 | 16635 |
| SPDR PORTFOLIO MID CAP ETF | COM | 78464A847 |  | 734728 | 13511 | SH |  | SOLE |  | 0 | 0 | 13511 |
| SPDR PORTFOLIO S 500 GROWTH | COM | 78464A409 |  | 1712805 | 17969 | SH |  | SOLE |  | 0 | 0 | 17969 |
| SPDR PORTFOLIO S 500 VALUE E | COM | 78464A508 |  | 995088 | 19012 | SH |  | SOLE |  | 0 | 0 | 19012 |
| SPDR S 500 ETF HIGH DIVIDEND | COM | 78468R788 |  | 2576071 | 60699 | SH |  | SOLE |  | 0 | 0 | 60699 |
| SPDR S 500 ETF TRUST | COM | 78462F103 |  | 6126304 | 9916 | SH |  | SOLE |  | 0 | 0 | 9916 |
| SPDR S DIVIDEND ETF | COM | 78464A763 |  | 1560895 | 11500 | SH |  | SOLE |  | 0 | 0 | 11500 |
| SPDR S MIDCAP 400 ETF TRUST | COM | 78467Y107 |  | 1095712 | 1934 | SH |  | SOLE |  | 0 | 0 | 1934 |
| VANGUARD DIV APPRECIATION INDE | COM | 921908844 |  | 425165 | 2077 | SH |  | SOLE |  | 0 | 0 | 2077 |
| VANGUARD S 500 ETF | COM | 922908363 |  | 596432 | 1050 | SH |  | SOLE |  | 0 | 0 | 1050 |
| ISHARES CORE MSCI EAFE ETF | COM | 46432F842 |  | 342185 | 4099 | SH |  | SOLE |  | 0 | 0 | 4099 |
| ISHARES MSCI EAFE ETF | COM | 464287465 |  | 2531078 | 28315 | SH |  | SOLE |  | 0 | 0 | 28315 |
| ISHARES MSCI EMERGING MKTS IND | COM | 464287234 |  | 450610 | 9341 | SH |  | SOLE |  | 0 | 0 | 9341 |
| ISHARES MSCI EUROZONE ETF | COM | 464286608 |  | 215031 | 3617 | SH |  | SOLE |  | 0 | 0 | 3617 |
| SPDR S EMERGING MKT SM CAP E | COM | 78463X756 |  | 459022 | 7400 | SH |  | SOLE |  | 0 | 0 | 7400 |
| VANGUARD FTSE EMERGING MARKETS | COM | 922042858 |  | 608556 | 12304 | SH |  | SOLE |  | 0 | 0 | 12304 |
| SPDR GOLD TRUST FUND | GOLD | 78463V107 |  | 4365955 | 14323 | SH |  | SOLE |  | 0 | 0 | 14323 |
| SPROTT PHYSICAL GOLD TRUST | GOLD | 85207H104 |  | 1036916 | 40904 | SH |  | SOLE |  | 0 | 0 | 40904 |
| VANECK MERK GOLD SHARES | GOLD | 921078101 |  | 711498 | 22311 | SH |  | SOLE |  | 0 | 0 | 22311 |

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