13F-HR 1 cannell13f02-4q.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter December 31, 2002 Ended: -------------------- 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: Cannell Capital LLC ------------------------------------- Address: 150 California Street, 5th Avenue ------------------------------------- San Francisco, CA 94111 ------------------------------------- ------------------------------------- Form 13F File Number: 28- 6453 -------- 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: J. Carlo Cannell ------------------------------------- Title: Managing Member ------------------------------------- Phone: 415-835-8300 ------------------------------------- Signature, Place, and Date of Signing: /s/ J. Carlo Cannell San Francisco, CA 2/12/2003 ------------------------ ------------------------- ---------- [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 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 81 Total: -------------- Form 13F Information Table value $ 719,689 Total: -------------- (thousands) 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 CANNELL CAPITAL LLC Managed Assets as of 12/31/2002 -------------------------------------------------------------------------------- COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 -------------------------------------------------------------------------------- TITLE OF CUSIP VALUE SHS OR SH/ PUT/ NAME OF ISSUER CLASS (x$1000) PRN AMT PRN CALL -------------------------------------------------------------------------------- ADVANCED FIBRE COMMUNICATIONSC COMMON 00754a105 21,350 1,280,000 SH ADVENT SOFTWARE INCCMN COMMON 007974108 7,497 550,000 SH ALDILA INCCMN COMMON 014384200 751 494,082 SH ALLIANCE SEMICONDUCTOR CORP COMMON 01877h100 11,649 2,964,000 SH ASCENTIAL SOFTWARE CORPCMN COMMON 04362p108 5,606 2,336,000 SH ASTROPOWER INC COMMON 04644a101 2,316 289,800 SH AVIGEN INC COMMON 053690103 6,769 1,185,482 SH BOSTON COMMUNICATIONS GROUP COMMON 100582105 12,438 978,600 SH CARRIAGE SERVICES, INC.CMN COMMON 143905107 687 172,500 SH CATO CORPORATION (THE)CMN CLA COMMON 149205106 8,744 405,000 SH COLUMBUS MCKINNON CORPCMN COMMON 199333105 2,365 619,000 SH COMTECH TELECOMM CORP NEW (+) COMMON 205826209 6,963 644,812 SH CONCERTO SOFTWARE INCCMN COMMON 20602t106 6,030 893,300 SH CONRAD INDUSTRIES INC COMMON 208305102 2,027 804,500 SH COPART INC COMMON 217204106 11,840 1,000,000 SH D & E COMMUNICATIONS, INCCMN COMMON 232860106 5,455 652,500 SH DATAMETRICS CORPCMN COMMON 238085203 74 1,237,057 SH ENNIS BUSINESS FORMS INC COMMON 293389102 10,581 910,600 SH FAIR ISAAC & CO INC COMMON 303250104 11,405 267,100 SH FILENET CORPCMN COMMON 316869106 10,791 884,500 SH FUNDTECH LTD COMMON m47095100 10,250 2,383,800 SH GENCORP INC COMMON 368682100 12,586 1,589,100 SH GLOBAL POWER EQUIPMENT INCCMN COMMON 37941p108 17,790 3,608,600 SH HANDLEMAN COMPANY COMMON 410252100 6,406 557,000 SH HOOPER HOLMES INC COMMON 439104100 8,540 1,390,800 SH HUGOTON ROYALTY TRUST UNITSCMN COMMON 444717102 8,133 634,400 SH HYPERION SOLUTIONSCORPORATION COMMON 44914m104 5,134 200,000 SH ICO INC DEP SHS REPSTG 1/4PFD COMMON 449293307 714 47,590 SH INTER PARFUMS INC COMMON 458334109 7,573 978,375 SH JOY GLOBAL INCCMN COMMON 481165108 11,546 1,025,400 SH KEY ENERGY SERVICES INCCMN UNIT BEN INT 492914106 15,341 1,710,300 SH KEYNOTE SYSTEMS INCCMN COMMON 493308100 12,418 1,608,500 SH LADISH COMPANY INCCMN COMMON 505754200 8,994 1,115,900 SH MAPICS INC COMMON 564910107 8,549 1,230,000 SH MEDQUIST INC COMMON 584949101 7,415 366,000 SH MERCURY COMPUTER SYSTEMS INC COMMON 589378108 5,881 192,700 SH METASOLV INCCMN COMMON 59139p104 2,141 1,551,200 SH METRO ONE TELECOMMUNICATIONS COMMON 59163f105 21,335 3,307,800 SH MULTEX.COMCOMMON SHARES COMMON 625367107 16,653 3,965,049 SH NATIONAL RESEARCH CORP COMMON 637372103 6,718 712,600 SH OPINION RESEARCH CORPCMN COMMON 683755102 2,709 485,999 SH ORPHAN MEDICAL INC COMMON 687303107 4,585 521,000 SH PACTIV CORPORATIONCMN COMMON 695257105 20,771 950,200 SH PC-TEL INCCMN COMMON 69325q105 11,379 1,678,326 SH PEDIATRIC SVCS OF AMERICACMN COMMON 705323103 7,115 1,023,800 SH PEDIATRIX MEDICAL GROUP INC COMMON 705324101 5,268 131,500 SH PINNACLE SYSTEMS INC COMMON 723481107 2,269 166,700 SH PRECISION CASTPARTS CORP. COMMON 740189105 13,556 559,000 SH PRIDE INTERNATIONAL INCCMN COMMON 74153q102 32,469 2,179,100 SH QUALITY SYSTEMS INC COMMON 747582104 4,812 239,400 SH RADCOM LTD COMMON m81865103 963 1,356,440 SH RALCORP HLDGS INC (NEW) COMMON 751028101 9,357 372,200 SH RANGE RESOURCES CORPORATION COMMON 75281a109 26,896 4,980,700 SH REMEC INC COMMON 759543101 2,917 751,900 SH SONICWALL INCCMN COMMON 835470105 6,353 1,750,100 SH SOUTHWESTERN ENERGY CO. COMMON 845467109 17,704 1,546,200 SH SPECTRALINK CORP COMMON 847580107 8,551 1,192,400 SH SPECTRUM CONTROL INC COMMON 847615101 7,841 1,493,586 SH SPHERION CORPCMN COMMON 848420105 2,860 426,900 SH SPORTS AUTHORITYCOMMON STOCK COMMON 849176102 10,045 1,435,000 SH STEWART ENTERPRISES INCCLASS A COMMON 860370105 12,497 2,243,300 SH TETRA TECHNOLOGIES INC (DEL) COMMON 88162f105 14,258 667,200 SH THE FIRST YEARS INC COMMON 337610109 5,428 539,600 SH TIMBERLINE SOFTWARE CORP COMMON 887134104 8,291 1,409,960 SH TRANSACTION SYSTEMS ARCHITECTS COMMON 893416107 585 90,000 SH TRIMBLE NAVIGATION LTD COMMON 896239100 5,798 464,230 SH U S PHYSICAL THERAPY INC COMMON 90337l108 11,217 1,006,000 SH VALUEVISION MEDIA INCCMN CLASS COMMON 92047k107 10,720 715,600 SH VISX, INC.CMN COMMON 92844s105 3,448 359,900 SH WASHINGTON GROUP INTERNATIONAL COMMON 938862208 10,130 635,100 SH S3 INCORPORATED SUB CONV CV 784849ac5 1,840 11,500,000 SH 5.75% due 10/01/03 PREMIERE TECHNOLOGIES SUB NT CV 74058fac6 18,066 20,765,000 SH 5.75% 07/01/04 AMERITRADE HOLDINGS CORPCONV S CV 03072hab5 13,986 16,851,000 SH 5.75% due 08/01/04 VITESSE SEMICONDUCTR CORP. CV 928497ab2 3,886 4,654,000 SH 4% due 03/15/05 NATURAL MICROSYSTEMS CORP CV 638882aa8 3,488 6,000,000 SH 5% due 10/15/05 I2 TECHNOLOGIES INC CV 465754af6 9,022 15,455,000 SH 5.25 due 12/15/06 WIND RIVER SYSTEMS INC CV 973149ae7 3,055 4,000,000 SH 3.75% due 12/15/06 AKAMAI TECHNOLOGIES INC CV 00971tac5 11,683 29,300,000 SH 5.5% due 07/01/07 TERAYON COMMUNICATION SYS INC CV 880775ac5 7,363 12,750,000 SH 5% due 08/01/07 NEXTEL COMMUNICATIONS INC. CV 65332vbc6 8,912 10,393,400 SH 6% due 06/01/11 ASPECT TELECOMMUNICATIONCV CV 045237ae4 18,140 47,425,000 SH 0% due 08/10/1 CANNELL CAPITAL LLC Managed Assets as of 12/31/2002 -------------------------------------------------------------------------------- COLUMN 1 COLUMN 6 COLUMN 7 COLUMN 8 -------------------------------------------------------------------------------- INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER DISCRETION MGRS SOLE SHARED NONE -------------------------------------------------------------------------------- # OF EACH TYPE ADVANCED FIBRE COMMUNICATIONSC SOLE 1,160,000 120,000 ADVENT SOFTWARE INCCMN SOLE 550,000 ALDILA INCCMN SOLE 428,416 65,666 ALLIANCE SEMICONDUCTOR CORP SOLE 2,754,000 210,000 ASCENTIAL SOFTWARE CORPCMN SOLE 1,816,600 519,400 ASTROPOWER INC SOLE 256,050 33,750 AVIGEN INC SOLE 1,103,282 82,200 BOSTON COMMUNICATIONS GROUP SOLE 885,300 93,300 CARRIAGE SERVICES, INC.CMN SOLE 160,300 12,200 CATO CORPORATION (THE)CMN CLA SOLE 342,500 62,500 COLUMBUS MCKINNON CORPCMN SOLE 545,400 73,600 COMTECH TELECOMM CORP NEW (+) SOLE 560,639 84,173 CONCERTO SOFTWARE INCCMN SOLE 754,700 138,600 CONRAD INDUSTRIES INC SOLE 698,700 105,800 COPART INC SOLE 870,500 129,500 D & E COMMUNICATIONS, INCCMN SOLE 557,600 94,900 DATAMETRICS CORPCMN SOLE 1,237,057 ENNIS BUSINESS FORMS INC SOLE 804,400 106,200 FAIR ISAAC & CO INC SOLE 228,400 38,700 FILENET CORPCMN SOLE 799,700 84,800 FUNDTECH LTD SOLE 2,148,600 235,200 GENCORP INC SOLE 1,439,900 149,200 GLOBAL POWER EQUIPMENT INCCMN SOLE 3,196,000 412,600 HANDLEMAN COMPANY SOLE 533,200 23,800 HOOPER HOLMES INC SOLE 1,268,500 122,300 HUGOTON ROYALTY TRUST UNITSCMN SOLE 631,200 3,200 HYPERION SOLUTIONSCORPORATION SOLE 200,000 ICO INC DEP SHS REPSTG 1/4PFD SOLE 47,590 INTER PARFUMS INC SOLE 824,625 153,750 JOY GLOBAL INCCMN SOLE 927,100 98,300 KEY ENERGY SERVICES INCCMN SOLE 1,479,800 230,500 KEYNOTE SYSTEMS INCCMN SOLE 1,370,500 238,000 LADISH COMPANY INCCMN SOLE 963,600 152,300 MAPICS INC SOLE 1,074,000 156,000 MEDQUIST INC SOLE 354,000 12,000 MERCURY COMPUTER SYSTEMS INC SOLE 192,700 METASOLV INCCMN SOLE 1,453,300 97,900 METRO ONE TELECOMMUNICATIONS SOLE 3,035,300 272,500 MULTEX.COMCOMMON SHARES SOLE 3,464,249 500,800 NATIONAL RESEARCH CORP SOLE 586,540 126,060 OPINION RESEARCH CORPCMN SOLE 395,617 90,382 ORPHAN MEDICAL INC SOLE 453,475 67,525 PACTIV CORPORATIONCMN SOLE 835,600 114,600 PC-TEL INCCMN SOLE 1,447,909 230,417 PEDIATRIC SVCS OF AMERICACMN SOLE 902,200 121,600 PEDIATRIX MEDICAL GROUP INC SOLE 131,500 PINNACLE SYSTEMS INC SOLE 166,700 PRECISION CASTPARTS CORP. SOLE 505,300 53,700 PRIDE INTERNATIONAL INCCMN SOLE 1,946,418 232,682 QUALITY SYSTEMS INC SOLE 201,300 38,100 RADCOM LTD SOLE 1,166,140 190,300 RALCORP HLDGS INC (NEW) SOLE 336,600 35,600 RANGE RESOURCES CORPORATION SOLE 4,288,330 692,370 REMEC INC SOLE 687,800 64,100 SONICWALL INCCMN SOLE 1,581,800 168,300 SOUTHWESTERN ENERGY CO. SOLE 1,382,689 163,511 SPECTRALINK CORP SOLE 1,036,600 155,800 SPECTRUM CONTROL INC SOLE 1,300,086 193,500 SPHERION CORPCMN SOLE 390,600 36,300 SPORTS AUTHORITYCOMMON STOCK SOLE 1,271,600 163,400 STEWART ENTERPRISES INCCLASS A SOLE 1,936,200 307,100 TETRA TECHNOLOGIES INC (DEL) SOLE 603,600 63,600 THE FIRST YEARS INC SOLE 448,100 91,500 TIMBERLINE SOFTWARE CORP SOLE 1,219,890 190,070 TRANSACTION SYSTEMS ARCHITECTS SOLE 81,200 8,800 TRIMBLE NAVIGATION LTD SOLE 390,830 73,400 U S PHYSICAL THERAPY INC SOLE 924,000 82,000 VALUEVISION MEDIA INCCMN CLASS SOLE 649,900 65,700 VISX, INC.CMN SOLE 264,200 95,700 WASHINGTON GROUP INTERNATIONAL SOLE 538,500 96,600 S3 INCORPORATED SUB CONV SOLE 11,500,000 5.75% due 10/01/03 PREMIERE TECHNOLOGIES SUB NTCV SOLE 20,765,000 5.75% 07/01/04 AMERITRADE HOLDINGS CORPCONV S SOLE 16,851,000 5.75% due 08/01/04 VITESSE SEMICONDUCTR CORP. SOLE 4,654,000 4% due 03/15/05 NATURAL MICROSYSTEMS CORP SOLE 6,000,000 5% due 10/15/05 I2 TECHNOLOGIES INC SOLE 15,455,000 5.25 due 12/15/06 WIND RIVER SYSTEMS INC SOLE 4,000,000 3.75% due 12/15/06 AKAMAI TECHNOLOGIES INC SOLE 29,300,000 5.5% due 07/01/07 TERAYON COMMUNICATION SYS INC SOLE 12,750,000 5% due 08/01/07 NEXTEL COMMUNICATIONS INC. SOLE 10,393,400 6% due 06/01/11 ASPECT TELECOMMUNICATIONCV SOLE 47,425,000 0% due 08/10/18