13F-HR 1 cannell13f03-2q.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter June 30, 2003 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 Floor ------------------------------------- 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 8/15/2003 ------------------------ ------------------------- ---------- [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 83 Total: -------------- Form 13F Information Table value $ 964,382 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 6/30/2003 -------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------- 1-800-FLOWERS.COMCMN CLASS A COMMON 68243q106 15,308 1,824,609 SH AGILE SOFTWARE CORPORATIONCMN COMMON 00846x105 18,502 1,919,342 SH ALDILA INCCMN COMMON 014384200 907 518,482 SH ANGELICA CORP.CMN COMMON 034663104 1,412 83,323 SH ASCENTIAL SOFTWARE CORPORATION COMMON 04362p207 20,317 1,236,579 SH ASPECT COMMUNICATIONS INCCMN COMMON 04523q102 32 9,151 SH AUDIOCODES LTDCMN COMMON m15342104 52 11,221 SH BOMBAY COMPANY INCCMN COMMON 097924104 13,229 1,244,500 SH BOSTON COMMUNICATIONS GROUPCMN COMMON 100582105 18,461 1,091,700 SH CAPTARIS INCCMN COMMON 14071n104 8,959 2,604,262 SH CHICAGO BRIDGE & IRON CO N VAD COMMON 167250109 3,402 150,000 SH CONRAD INDUSTRIES INC COMMON 208305102 1,983 804,500 SH COPART INCCMN COMMON 217204106 11,555 1,222,717 SH CURATIVE HEALTH SERVICES INC COMMON 231264102 16,185 957,100 SH DYNAMEX INCCMN COMMON 26784f103 286 43,000 SH EARTHLINK, INC.CMN COMMON 270321102 27,930 3,500,000 SH EFUNDS CORPCMN COMMON 28224r101 6,866 594,458 SH ENNIS BUSINESS FORMS INC COMMON 293389102 13,731 943,689 SH FREEMARKETS, INC.CMN COMMON 356602102 5,672 816,151 SH FUNDTECH LTD COMMON m47095100 13,882 2,614,300 SH GENCORP INC COMMON 368682100 20,859 2,346,300 SH GENERAL CABLE CORP COMMON 369300108 21,085 3,904,700 SH GLOBAL POWER EQUIPMENT INCCMN COMMON 37941p108 18,432 3,963,900 SH HEIDRICK & STRUGGLES INC.CMN COMMON 422819102 5,772 457,400 SH HOOPER HOLMES INCCMN COMMON 439104100 12,950 2,010,800 SH ICO INC DEP SHS REPSTG 1/4PFD COMMON 449293307 539 41,490 SH INTEGRATED DEFENSE TECHNOLOGIE COMMON 45819b101 19,118 1,232,600 SH INTER PARFUMS INC COMMON 458334109 3,920 529,700 SH INTERTAPE POLYMER GROUP INCCMN COMMON 460919103 8,331 1,400,101 SH INTERWOVEN INCCMN COMMON 46114t102 10,912 4,960,000 SH INVESTMENT TECHNOLOGY GP INCCM COMMON 46145f105 166 8,938 SH JONES APPAREL GROUP, INC.CMN COMMON 480074103 15,800 540,000 SH JOY GLOBAL INCCMN COMMON 481165108 15,129 1,023,600 SH KEY ENERGY SERVICES INCCMN COMMON 492914106 21,443 2,000,300 SH KEYNOTE SYSTEMS INCCMN COMMON 493308100 18,820 1,795,832 SH LADISH COMPANY INCCMN COMMON 505754200 8,275 1,240,600 SH LANNETT COMPANY, INCCMN COMMON 516012101 682 29,100 SH LEARNING TREE INTERNATIONALINC COMMON 522015106 8,812 562,700 SH LIONORE MINING INTL LTD COMMON 535913107 5,748 1,398,900 SH LODGENET ENTMT CORP COMMON 540211109 983 89,895 SH MAPICS INCCMN COMMON 564910107 3,966 484,235 SH MAPINFO CORP COMMON 565105103 750 105,124 SH METRO ONE TELECOMMUNICATIONSCM COMMON 59163f105 14,861 2,885,717 SH MSC.SOFTWARE CORPORATIONCMN COMMON 553531104 1,395 206,941 SH NATIONAL PROCESSING INC COMMON 637229105 14,697 914,000 SH NATIONAL RESEARCH CORP COMMON 637372103 7,355 653,200 SH NYFIX INCCMN COMMON 670712108 3,155 498,410 SH ON-ASSIGNMENT INCCMN COMMON 682159108 808 200,000 SH OPINION RESEARCH CORPCMN COMMON 683755102 3,525 537,699 SH PC-TEL INCCMN COMMON 69325q105 20,030 1,690,326 SH PEDIATRIC SVCS OF AMERICACMN COMMON 705323103 7,251 1,082,200 SH PEGASUS SOLUTIONS INCCMN COMMON 705906105 14,487 889,300 SH PINNACLE SYSTEMS INCCMN COMMON 723481107 22,203 2,075,000 SH PRECISION CASTPARTS CORP.CMN COMMON 740189105 11,329 364,281 SH PRG-SCHULTZ INTERNATIONAL INCC COMMON 69357c107 11,879 2,009,993 SH PRIDE INTERNATIONAL INCCMN COMMON 74153q102 32,164 1,709,010 SH RADCOM LTD COMMON m81865103 1,494 1,494,240 SH RANGE RESOURCES CORPORATION COMMON 75281a109 28,428 4,534,027 SH REMEC INC COMMON 759543101 18,582 2,693,000 SH ROLLINS INC.CMN COMMON 775711104 3,675 194,952 SH RPM INTERNATIONAL INCCMN COMMON 749685103 18,072 1,314,300 SH SERVICEMASTER COMPANYCMN COMMON 81760n109 11,342 1,060,000 SH SONICWALL INCCMN COMMON 835470105 21,089 4,348,271 SH SOTHEBYS HLDGS CL-A LTD VOTING COMMON 835898107 10,574 1,421,200 SH SOUTHWESTERN ENERGY CO. COMMON 845467109 23,177 1,544,100 SH SPECTRALINK CORP COMMON 847580107 13,183 1,346,569 SH SPECTRUM CONTROL INC COMMON 847615101 8,644 1,538,086 SH SPORTS AUTHORITYCOMMON STOCK COMMON 849176102 18,051 1,687,045 SH STEELCASE INC.CLASS A COMMON S COMMON 858155203 8,130 691,320 SH STEWART ENTERPRISES INCCLASS A COMMON 860370105 13,108 3,048,300 SH TETRA TECHNOLOGIES INC (DEL)CM COMMON 88162f105 27,474 926,600 SH THE FIRST YEARS INC COMMON 337610109 6,518 539,600 SH TIMBERLINE SOFTWARE CORPCMN COMMON 887134104 7,910 1,409,960 SH U S PHYSICAL THERAPY INCCMN COMMON 90337l108 19,112 1,462,300 SH VALUEVISION MEDIA INCCMN CLASS COMMON 92047k107 7,595 555,600 SH WASHINGTON GROUP INTERNATIONAL COMMON 938862208 18,097 824,100 SH WEBMETHODS INCCMN COMMON 94768c108 12,498 1,541,000 SH WILLIAMS COMPANIES INC. (THE)C COMMON 969457100 6,441 815,377 SH PREMIERE TECHNOLOGIES SUB NTCV CV 74058fac6 18,898 19,583,000 SH 5.75% due 07/01/04 TRANSWITCH CORP CV 894065ab7 8,011 10,141,000 SH 4.5% due 09/12/05 NATURAL MICROSYSTEMS CORP CV 638882aa8 9,819 13,450,000 SH 5% due 10/15/05 PRIMUS TELECOMMUNICATIONS GRP CV 741929al7 8,463 10,000,000 SH 5.75% due 02/15/07 AKAMAI TECHNOLOGIES INC CV 00971tac5 29,697 39,530,000 SH 5.5% due 07/01/07 CANNELL CAPITAL LLC Managed Assets as of 6/30/2003 -------------------------------------------------------------------------------- COLUMN 1 COLUMN 6 COLUMN 7 COLUMN 8 -------------------------------------------------------------------------------- INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER DISCRETION MGRS SOLE SHARED NONE -------------------------------------------------------------------------------- # OF EACH TYPE 1-800-FLOWERS.COMCMN CLASS A SOLE 1,661,109 163,500 AGILE SOFTWARE CORPORATIONCMN SOLE 1,750,042 169,300 ALDILA INCCMN SOLE 452,816 65,666 ANGELICA CORP.CMN SOLE 75,823 7,500 ASCENTIAL SOFTWARE CORPORATION SOLE 1,106,729 129,850 ASPECT COMMUNICATIONS INCCMN SOLE 8,351 800 AUDIOCODES LTDCMN SOLE 10,221 1,000 BOMBAY COMPANY INCCMN SOLE 1,132,900 111,600 BOSTON COMMUNICATIONS GROUPCMN SOLE 993,700 98,000 CAPTARIS INCCMN SOLE 2,373,162 231,100 CHICAGO BRIDGE & IRON CO N VAD SOLE 136,500 13,500 CONRAD INDUSTRIES INC SOLE 698,700 105,800 COPART INCCMN SOLE 1,112,317 110,400 CURATIVE HEALTH SERVICES INC SOLE 872,400 84,700 DYNAMEX INCCMN SOLE 39,200 3,800 EARTHLINK, INC.CMN SOLE 3,195,600 304,400 EFUNDS CORPCMN SOLE 541,858 52,600 ENNIS BUSINESS FORMS INC SOLE 855,589 88,100 FREEMARKETS, INC.CMN SOLE 742,651 73,500 FUNDTECH LTD SOLE 2,356,800 257,500 GENCORP INC SOLE 2,139,900 206,400 GENERAL CABLE CORP SOLE 3,567,000 337,700 GLOBAL POWER EQUIPMENT INCCMN SOLE 3,551,300 412,600 HEIDRICK & STRUGGLES INC.CMN SOLE 416,900 40,500 HOOPER HOLMES INCCMN SOLE 1,833,400 177,400 ICO INC DEP SHS REPSTG 1/4PFD SOLE 41,490 INTEGRATED DEFENSE TECHNOLOGIE SOLE 1,124,300 108,300 INTER PARFUMS INC SOLE 448,650 81,050 INTERTAPE POLYMER GROUP INCCMN SOLE 1,274,983 125,118 INTERWOVEN INCCMN SOLE 4,515,100 444,900 INVESTMENT TECHNOLOGY GP INCCM SOLE 8,138 800 JONES APPAREL GROUP, INC.CMN SOLE 490,700 49,300 JOY GLOBAL INCCMN SOLE 931,900 91,700 KEY ENERGY SERVICES INCCMN SOLE 1,784,200 216,100 KEYNOTE SYSTEMS INCCMN SOLE 1,557,832 238,000 LADISH COMPANY INCCMN SOLE 1,088,300 152,300 LANNETT COMPANY, INCCMN SOLE 26,500 2,600 LEARNING TREE INTERNATIONALINC SOLE 512,900 49,800 LIONORE MINING INTL LTD SOLE 1,274,200 124,700 LODGENET ENTMT CORP SOLE 81,795 8,100 MAPICS INCCMN SOLE 444,386 39,849 MAPINFO CORP SOLE 95,791 9,333 METRO ONE TELECOMMUNICATIONSCM SOLE 2,638,917 246,800 MSC.SOFTWARE CORPORATIONCMN SOLE 188,241 18,700 NATIONAL PROCESSING INC SOLE 833,400 80,600 NATIONAL RESEARCH CORP SOLE 606,940 46,260 NYFIX INCCMN SOLE 454,010 44,400 ON-ASSIGNMENT INCCMN SOLE 182,300 17,700 OPINION RESEARCH CORPCMN SOLE 446,817 90,882 PC-TEL INCCMN SOLE 1,521,559 168,767 PEDIATRIC SVCS OF AMERICACMN SOLE 960,000 122,200 PEGASUS SOLUTIONS INCCMN SOLE 810,900 78,400 PINNACLE SYSTEMS INCCMN SOLE 1,888,800 186,200 PRECISION CASTPARTS CORP.CMN SOLE 329,281 35,000 PRG-SCHULTZ INTERNATIONAL INCC SOLE 1,827,193 182,800 PRIDE INTERNATIONAL INCCMN SOLE 1,557,428 151,582 RADCOM LTD SOLE 1,298,340 195,900 RANGE RESOURCES CORPORATION SOLE 3,941,757 592,270 REMEC INC SOLE 2,455,200 237,800 ROLLINS INC.CMN SOLE 177,552 17,400 RPM INTERNATIONAL INCCMN SOLE 1,197,900 116,400 SERVICEMASTER COMPANYCMN SOLE 964,700 95,300 SONICWALL INCCMN SOLE 3,957,971 390,300 SOTHEBYS HLDGS CL-A LTD VOTING SOLE 1,296,000 125,200 SOUTHWESTERN ENERGY CO. SOLE 1,382,289 161,811 SPECTRALINK CORP SOLE 1,240,069 106,500 SPECTRUM CONTROL INC SOLE 1,344,586 193,500 SPORTS AUTHORITYCOMMON STOCK SOLE 1,523,545 163,500 STEELCASE INC.CLASS A COMMON S SOLE 629,320 62,000 STEWART ENTERPRISES INCCLASS A SOLE 2,777,400 270,900 TETRA TECHNOLOGIES INC (DEL)CM SOLE 829,200 97,400 THE FIRST YEARS INC SOLE 448,100 91,500 TIMBERLINE SOFTWARE CORPCMN SOLE 1,219,890 190,070 U S PHYSICAL THERAPY INCCMN SOLE 1,333,200 129,100 VALUEVISION MEDIA INCCMN CLASS SOLE 505,900 49,700 WASHINGTON GROUP INTERNATIONAL SOLE 727,500 96,600 WEBMETHODS INCCMN SOLE 1,404,500 136,500 WILLIAMS COMPANIES INC. SOLE 742,077 73,300 PREMIERE TECHNOLOGIES SUB NTCV SOLE 19,459,500 123,500 5.75% due 07/01/04 TRANSWITCH CORP SOLE 9,241,800 899,200 4.5% due 09/12/05 NATURAL MICROSYSTEMS CORP SOLE 12,578,900 871,100 5% due 10/15/05 PRIMUS TELECOMMUNICATIONS GRP SOLE 9,101,800 898,200 5.75% due 02/15/07 AKAMAI TECHNOLOGIES INC SOLE 37,202,000 2,328,000 5.5% due 07/01/07