13F-HR 1 cannell13f03-4q.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter September 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 11/14/2003 ------------------------ ------------------------- ---------- [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 90 Total: -------------- Form 13F Information Table value $ 929,302 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 9/30/2003 -------------------------------------------------------------------------------- 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 12,220 1,625,000 SH ACME COMMUNICATIONS INCCMN COMMON 004631107 4,972 662,900 SH AGILE SOFTWARE CORPORATIONCMN COMMON 00846x105 11,662 1,225,000 SH ALDILA INCCMN COMMON 014384200 1,399 536,082 SH ANAREN INCCMN COMMON 032744104 543 42,518 SH ANGELICA CORP.CMN COMMON 034663104 13,392 704,850 SH ARRIS GROUP INCCMN COMMON 04269q100 6,267 1,089,930 SH ASCENTIAL SOFTWARE CORPORATION COMMON 04362p207 17,055 920,400 SH BOMBAY COMPANY INCCMN COMMON 097924104 9,057 919,500 SH BOSTON COMMUNICATIONS GROUPCMN COMMON 100582105 5,599 559,860 SH CAPTARIS INCCMN COMMON 14071n104 15,125 2,859,262 SH CONRAD INDUSTRIES INC COMMON 208305102 1,987 804,500 SH COVAD COMMUNICATIONS GROUPCOMM COMMON 222814204 9,871 1,785,000 SH DOCENT INCCMN COMMON 25608l502 2,305 619,600 SH DYNAMEX INCCMN COMMON 26784f103 6,791 753,700 SH EARTHLINK, INC.CMN COMMON 270321102 28,805 3,500,000 SH ENNIS BUSINESS FORMS INCCMN COMMON 293389102 9,151 682,400 SH FACTORY 2-U STORES INC COMMON 303072102 4,593 1,502,500 SH FREEMARKETS, INC.CMN COMMON 356602102 9,109 1,170,735 SH FUNDTECH LTD COMMON m47095100 16,917 2,590,600 SH GENCORP INC COMMON 368682100 16,283 1,819,300 SH GENERAL CABLE CORP COMMON 369300108 30,567 3,840,100 SH GIGAMEDIA LIMITED.ORD CMN COMMON y2711y104 12,336 5,014,481 SH GLOBAL POWER EQUIPMENT INCCMN COMMON 37941p108 20,890 3,963,900 SH HOOPER HOLMES INCCMN COMMON 439104100 6,875 1,033,800 SH ICO INC DEP SHS REPSTG 1/4PFD COMMON 449293307 691 63,390 SH INFOSPACE INCCMN COMMON 45678t201 10,705 524,500 SH INTEGRATED DEFENSE TECHNOLOGIE COMMON 45819b101 20,982 1,250,400 SH INTER PARFUMS INC COMMON 458334109 4,741 475,500 SH INTERTAPE POLYMER GROUP INCCMN COMMON 460919103 10,335 1,435,391 SH INTERWOVEN INCCMN COMMON 46114t102 13,880 5,160,000 SH JOY GLOBAL INCCMN COMMON 481165108 16,392 1,028,340 SH KEY ENERGY SERVICES INCCMN COMMON 492914106 20,654 2,140,300 SH KEYNOTE SYSTEMS INCCMN COMMON 493308100 10,519 940,000 SH LADISH COMPANY INCCMN COMMON 505754200 5,234 842,800 SH LEARNING TREE INTERNATIONALINC COMMON 522015106 10,990 655,347 SH LIONORE MINING INTL LTD COMMON 535913107 7,053 1,398,900 SH MAPICS INCCMN COMMON 564910107 2,553 260,000 SH METRIS COMPANIES INCCMN COMMON 591598107 5,212 1,265,000 SH METRO ONE TELECOMMUNICATIONSCM COMMON 59163f105 8,518 2,440,717 SH MIPS TECHNOLOGIES INC. - CL AC COMMON 604567107 1,997 487,100 SH MIPS TECHNOLOGIES INCCMN CLASS COMMON 604567206 4,073 1,026,000 SH MSC.SOFTWARE CORPORATIONCMN COMMON 553531104 11,360 1,577,847 SH NATIONAL PROCESSING INC COMMON 637229105 16,839 871,600 SH NATIONAL RESEARCH CORP COMMON 637372103 9,113 669,100 SH NETIQ CORPORATION COMMON 64115p102 9,433 790,000 SH NUCO2 INC COMMON 629428103 250 22,674 SH NYFIX INCCMN COMMON 670712108 6,262 1,118,236 SH OPINION RESEARCH CORPCMN COMMON 683755102 3,280 537,699 SH PARAMETRIC TECHNOLOGY CORPCMN COMMON 699173100 9,738 3,091,400 SH PC-TEL INCCMN COMMON 69325q105 12,879 1,204,800 SH PEDIATRIC SVCS OF AMERICACMN COMMON 705323103 7,300 862,933 SH PEGASUS SOLUTIONS INCCMN COMMON 705906105 15,112 1,094,300 SH PINNACLE SYSTEMS INCCMN COMMON 723481107 16,105 1,924,100 SH PIONEER COMPANIES INCCMN COMMON 723643300 901 196,886 SH PRG-SCHULTZ INTERNATIONAL INCC COMMON 69357c107 12,695 2,234,993 SH PRIDE INTERNATIONAL INCCMN COMMON 74153q102 28,968 1,709,010 SH PTEK HOLDINGS INCCMN COMMON 69366m104 16,799 2,041,000 SH RADCOM LTD COMMON m81865103 1,719 1,508,240 SH RANGE RESOURCES CORPORATION COMMON 75281a109 30,649 4,480,832 SH REMEC INC COMMON 759543101 11,271 1,105,000 SH RIGHT MANAGEMENT CONSULTANTS I COMMON 766573109 5,225 289,000 SH SBS TECHNOLOGIES INC COMMON 78387p103 9,856 906,700 SH SEACHANGE INTERNATIONAL INCCMN COMMON 811699107 6,870 550,000 SH SERVICEMASTER COMPANYCMN COMMON 81760n109 18,571 1,810,000 SH SONICWALL INCCMN COMMON 835470105 25,653 4,438,271 SH SOUTHWESTERN ENERGY CO. COMMON 845467109 25,595 1,414,100 SH SPECTRALINK CORP COMMON 847580107 8,461 452,700 SH SPECTRUM CONTROL INC COMMON 847615101 10,536 1,538,086 SH SPORTS AUTHORITY INCCMN COMMON 84917u109 2,953 93,871 SH STEWART ENTERPRISES INCCLASS A COMMON 860370105 8,794 2,314,200 SH SYMMETRICOM INC COMMON 871543104 755 119,218 SH TETRA TECHNOLOGIES INC (DEL)CM COMMON 88162f105 5,155 250,000 SH THE FIRST YEARS INCCMN COMMON 337610109 7,069 539,600 SH THOMAS & BETTS CO. COMMON 884315102 13,528 853,500 SH U S PHYSICAL THERAPY INCCMN COMMON 90337l108 15,040 1,231,762 SH VALUEVISION MEDIA INCCMN CLASS COMMON 92047k107 9,609 605,885 SH WASHINGTON GROUP INTERNATIONAL COMMON 938862208 16,726 619,468 SH WEBMETHODS INCCMN COMMON 94768c108 14,231 1,774,500 SH ZOMAX INCCMN COMMON 989929104 425 83,186 SH PREMIERE TECHNOLOGIES SUB NTCV CV 74058fac6 11,639 11,610,000 SH 5.75% due 07/01/04 TRANSWITCH CORP CV 894065ab7 1,488 1,750,000 SH 4.5% 09/12/05 NATURAL MICROSYSTEMS CORP CV 638882aa8 11,718 13,950,000 SH 5% due 10/15/05 EMCORE CORP CV 290846ab0 3,650 5,000,000 SH 5% due 05/15/06 PRIMUS TELECOMMUNICATIONS GRP CV 741929al7 11,895 13,000,000 SH 5.75% due 02/15/07 AKAMAI TECHNOLOGIES INC CV 00971tac5 26,094 33,030,000 SH 5.5% due 7/01/07 TRANSWITCH CORPORATION CV 894065ac5 8,238 8,363,000 SH 5.45% due 9/30/07 ASPECT TELECOMMUNICATION CV 045237ae4 119 300,000 SH 0% due 8/10/18 CHECKFREE CORPORATION CV 162816ac6 200 200,000 SH 6.5% due 12/1/2006 INTERIM SERVICES INC. CV 45868paa8 239 250,000 SH 4.5% due 6/1/2005 CANNELL CAPITAL LLC Managed Assets as of 9/30/2003 -------------------------------------------------------------------------------- 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 1,478,700 146,300 ACME COMMUNICATIONS INCCMN SOLE 603,000 59,900 AGILE SOFTWARE CORPORATIONCMN SOLE 1,115,800 109,200 ALDILA INCCMN SOLE 470,016 66,066 ANAREN INCCMN SOLE 38,718 3,800 ANGELICA CORP.CMN SOLE 641,250 63,600 ARRIS GROUP INCCMN SOLE 991,830 98,100 ASCENTIAL SOFTWARE CORPORATION SOLE 838,470 81,930 BOMBAY COMPANY INCCMN SOLE 836,300 83,200 BOSTON COMMUNICATIONS GROUPCMN SOLE 509,360 50,500 CAPTARIS INCCMN SOLE 2,601,562 257,700 CONRAD INDUSTRIES INC SOLE 698,700 105,800 COVAD COMMUNICATIONS GROUPCOMM SOLE 1,624,500 160,500 DOCENT INCCMN SOLE 563,800 55,800 DYNAMEX INCCMN SOLE 685,800 67,900 EARTHLINK, INC.CMN SOLE 3,195,600 304,400 ENNIS BUSINESS FORMS INCCMN SOLE 618,900 63,500 FACTORY 2-U STORES INC SOLE 1,367,500 135,000 FREEMARKETS, INC.CMN SOLE 1,065,235 105,500 FUNDTECH LTD SOLE 2,336,100 254,500 GENCORP INC SOLE 1,658,900 160,400 GENERAL CABLE CORP SOLE 3,507,200 332,900 GIGAMEDIA LIMITED.ORD CMN SOLE 4,559,781 454,700 GLOBAL POWER EQUIPMENT INCCMN SOLE 3,551,300 412,600 HOOPER HOLMES INCCMN SOLE 940,800 93,000 ICO INC DEP SHS REPSTG 1/4PFD SOLE 63,390 INFOSPACE INCCMN SOLE 476,800 47,700 INTEGRATED DEFENSE TECHNOLOGIE SOLE 1,139,400 111,000 INTER PARFUMS INC SOLE 429,350 46,150 INTERTAPE POLYMER GROUP INCCMN SOLE 1,307,173 128,218 INTERWOVEN INCCMN SOLE 4,697,100 462,900 JOY GLOBAL INCCMN SOLE 935,840 92,500 KEY ENERGY SERVICES INCCMN SOLE 1,924,200 216,100 KEYNOTE SYSTEMS INCCMN SOLE 860,700 79,300 LADISH COMPANY INCCMN SOLE 742,200 100,600 LEARNING TREE INTERNATIONALINC SOLE 595,547 59,800 LIONORE MINING INTL LTD SOLE 1,274,200 124,700 MAPICS INCCMN SOLE 236,400 23,600 METRIS COMPANIES INCCMN SOLE 1,150,000 115,000 METRO ONE TELECOMMUNICATIONSCM SOLE 2,232,017 208,700 MIPS TECHNOLOGIES INC. - CL AC SOLE 443,100 44,000 MIPS TECHNOLOGIES INCCMN CLASS SOLE 933,600 92,400 MSC.SOFTWARE CORPORATIONCMN SOLE 1,435,747 142,100 NATIONAL PROCESSING INC SOLE 794,600 77,000 NATIONAL RESEARCH CORP SOLE 621,440 47,660 NETIQ CORPORATION SOLE 718,700 71,300 NUCO2 INC SOLE 20,706 1,968 NYFIX INCCMN SOLE 1,017,936 100,300 OPINION RESEARCH CORPCMN SOLE 446,817 90,882 PARAMETRIC TECHNOLOGY CORPCM SOLE 2,812,700 278,700 PC-TEL INCCMN SOLE 1,091,633 113,167 PEDIATRIC SVCS OF AMERICACMN SOLE 771,547 91,386 PEGASUS SOLUTIONS INCCMN SOLE 995,700 98,600 PINNACLE SYSTEMS INCCMN SOLE 1,751,400 172,700 PIONEER COMPANIES INCCMN SOLE 178,986 17,900 PRG-SCHULTZ INTERNATIONAL NCC SOLE 2,033,893 201,100 PRIDE INTERNATIONAL INCCMN SOLE 1,557,428 151,582 PTEK HOLDINGS INCCMN SOLE 1,857,100 183,900 RADCOM LTD SOLE 1,312,340 195,900 RANGE RESOURCES CORPORATION SOLE 3,900,322 580,510 REMEC INC SOLE 1,005,500 99,500 RIGHT MANAGEMENT CONSULTANTS I SOLE 262,700 26,300 SBS TECHNOLOGIES INC SOLE 824,700 82,000 SEACHANGE INTERNATIONAL INCCMN SOLE 500,500 49,500 SERVICEMASTER COMPANYCMN SOLE 647,100 162,900 SONICWALL INCCMN SOLE 4,039,971 398,300 SOUTHWESTERN ENERGY CO. SOLE 1,286,989 127,111 SPECTRALINK CORP SOLE 412,200 40,500 SPECTRUM CONTROL INC SOLE 1,344,586 193,500 SPORTS AUTHORITY INCCMN SOLE 85,574 8,297 STEWART ENTERPRISES INCCLASS A SOLE 2,108,600 205,600 SYMMETRICOM INC SOLE 108,418 10,800 TETRA TECHNOLOGIES INC (DEL)CM SOLE 226,150 23,850 THE FIRST YEARS INCCMN SOLE 448,100 91,500 THOMAS & BETTS CO. SOLE 776,800 76,700 U S PHYSICAL THERAPY INCCMN SOLE 1,122,665 109,097 VALUEVISION MEDIA INCCMN CLASS SOLE 551,585 54,300 WASHINGTON GROUP INTERNATIONAL SOLE 563,868 55,600 WEBMETHODS INCCMN SOLE 1,614,600 159,900 ZOMAX INCCMN SOLE 76,086 7,100 PREMIERE TECHNOLOGIES SUB NTCV SOLE 11,536,500 73,500 5.75% due 07/01/04 TRANSWITCH CORP SOLE 1,592,300 157,700 4.5% 09/12/05 NATURAL MICROSYSTEMS CORP SOLE 13,003,200 946,800 5% due 10/15/05 EMCORE CORP SOLE 4,522,900 477,100 5% due 05/15/06 PRIMUS TELECOMMUNICATIONS GRP SOLE 11,831,500 1,168,500 5.75% due 02/15/07 AKAMAI TECHNOLOGIES INC SOLE 31,084,800 1,945,200 5.5% due 7/01/07 TRANSWITCH CORPORATION SOLE 7,622,000 741,000 5.45% due 9/30/07 ASPECT TELECOMMUNICATION SOLE 300,000 0% due 8/10/18 CHECKFREE CORPORATION SOLE 200,000 6.5% due 12/1/2006 INTERIM SERVICES INC. SOLE 250,000 4.5% due 6/1/2005