13F-HR/A 1 cannell13f-4qtr2005.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, 2005 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 2/15/2006 ------------------------ ------------------------- ---------- [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 79 Total: -------------- Form 13F Information Table value $ 959,271 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 12/31/2005 -------------------------------------------------------------------------------- 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.COM CMN CLASS A COMMON 68243q106 13,549 2,110,500 SH ABRAXAS PETROLEUM CORPORATION COMMON 003830106 4,590 869,267 SH ACUITY BRANDS INC CMN COMMON 00508y102 30,528 960,000 SH ALDERWOODS GROUP INC CMN COMMON 014383103 11,109 700,000 SH AMCON DISTRG CO CMN COMMON 02341q205 207 12,500 SH ANGELICA CORP. CMN COMMON 034663104 1,177 71,158 SH BADGER METER INC CMN COMMON 056525108 1,923 49,000 SH BALLY TOTAL FITNESS HLDG CORP COMMON 05873k108 1,275 203,079 SH BKF CAP GROUP INC CMN COMMON 05548g102 18,950 1,000,000 SH CANTEL MEDICAL CORP. CMN COMMON 138098108 2,009 112,000 SH CARDIAC SCIENCE CORPORATION CMCOMMON 14141a108 15,649 1,729,224 SH CARREKER CORPORATION CMN COMMON 144433109 10,403 2,084,809 SH CHANNELL COMMERCIAL CORP CMN COMMON 159186105 2,040 411,000 SH CITIZENS FIRST BANCORP INC DELCOMMON 17461r106 1,151 48,835 SH COMFORT SYSTEMS USA INC COMMONCOMMON 199908104 24,978 2,715,000 SH COMMERCIAL VEHICLE GROUP, INC.COMMON 202608105 7,227 384,800 SH COOPER CAMERON CORP CMN COMMON 216640102 39,330 950,000 SH COST-U-LESS INC CMN COMMON 221492101 585 75,500 SH CROWN HOLDINGS INC CMN COMMON 228368106 40,396 2,068,400 SH DOVER SADDLERY, INC. CMN COMMON 260412101 2,166 227,976 SH DRUGSTORE.COM INC CMN COMMON 262241102 14,079 4,940,000 SH ENNIS INC CMN COMMON 293389102 35,521 1,954,900 SH ENTRUST INC CMN COMMON 293848107 12,758 2,635,868 SH FROZEN FOOD EXPRESS INDS INC CCOMMON 359360104 16,692 1,513,300 SH FUNDTECH LTD CMN COMMON m47095100 23,333 2,280,800 SH GENERAL CABLE CORP CMN COMMON 369300108 29,550 1,500,000 SH GERBER SCIENTIFIC INC CMN COMMON 373730100 12,130 1,267,518 SH GLOBAL POWER EQUIPMENT INC CMNCOMMON 37941p108 18,803 4,160,000 SH GORMAN-RUPP CO CMN COMMON 383082104 2,322 105,000 SH GRAFTECH INTERNATIONAL LTD CMNCOMMON 384313102 35,597 5,722,931 SH GREENFIELD ONLINE, INC. CMN COMMON 395150105 2,895 494,000 SH ICO INC (NEW) CMN COMMON 449293109 626 193,960 SH ICO INC DEP SHS REPSTG 1/4 PFDCOMMON 449293307 2,044 90,390 SH IKON OFFICE SOLUTIONS INC CMN COMMON 451713101 31,230 3,000,000 SH INTERSECTIONS INC. CMN COMMON 460981301 9,681 1,036,500 SH JACUZZI BRANDS INC ORD CMN COMMON 469865109 2,209 263,000 SH LAIDLAW INTERNATIONAL, INC. CMCOMMON 50730r102 19,049 820,000 SH LAYNE CHRISTENSEN COMPANY (NAMCOMMON 521050104 3,090 121,500 SH LENNOX INTERNATIONAL INC CMN COMMON 526107107 9,024 320,000 SH MAPINFO CORP CMN COMMON 565105103 23,194 1,839,301 SH MARKETAXESS HOLDINGS INC. CMN COMMON 57060d108 17,145 1,500,000 SH MERCER INS GROUP INC CMN COMMON 587902107 425 28,300 SH MET-PRO CORPORATION CMN COMMON 590876306 2,419 203,932 SH MFRI INC CMN COMMON 552721102 324 60,345 SH MILACRON INC CMN COMMON 598709103 7,078 5,617,793 SH MOCON INC CMN COMMON 607494101 602 64,700 SH MOTHERS WK INC CMN COMMON 619903107 336 26,312 SH MVC CAPITAL INC MUTUAL FUND COMMON 553829102 29,906 2,797,550 SH NAPCO SECURITY SYSTEMS INC CMNCOMMON 630402105 12,427 1,199,549 SH NATCO GROUP INC CMN CLASS A COMMON 63227w203 31,750 1,551,800 SH NETOPIA INC. CMN COMMON 64114k104 3,905 1,425,000 SH NORTHWEST PIPE COMPANY CMN COMMON 667746101 1,927 72,000 SH OMNICELL INC CMN COMMON 68213n109 18,133 1,517,410 SH OPINION RESEARCH CORP CMN COMMON 683755102 3,419 607,200 SH PERMA-FIX ENVIRONMENTAL SERVICCOMMON 714157104 2,069 1,238,899 SH PHASE FORWARD INCORPORATED CMNCOMMON 71721r406 25,378 2,602,897 SH PICO HOLDINGS INC CMN COMMON 693366205 1,871 58,000 SH PORTEC RAIL PRODUCTS, INC. CMNCOMMON 736212101 6,579 501,859 SH POWERSHARES WATER RES PORTF EXCOMMON 73935X575 1,368 90,000 SH PRIDE INTERNATIONAL INC CMN COMMON 74153q102 42,281 1,375,000 SH PXRE GROUP LTD CMN COMMON g73018106 29,720 2,293,182 SH QUADRAMED CORPORATION CMN COMMON 74730w101 611 424,100 SH QUALITY DISTRIBUTION INC CMN COMMON 74756m102 13,549 1,700,000 SH SEABRIGHT INSURANCE HLDG INC CCOMMON 811656107 25,179 1,514,100 SH SERVICEMASTER COMPANY CMN COMMON 81760n109 24,838 2,078,500 SH SIRVA, INC. CMN COMMON 82967y104 3,760 470,000 SH SPECTRUM CONTROL INC CMN COMMON 847615101 4,701 757,000 SH STEWART ENTERPRISES INC CLASS COMMON 860370105 15,013 2,775,000 SH SUPERIOR ESSEX INC CMN COMMON 86815v105 28,224 1,400,000 SH SYNAGRO TECHNOLOGIES INC (NEW)COMMON 871562203 2,508 593,000 SH TECHNITROL INC CMN COMMON 878555101 18,383 1,075,000 SH TELULAR CORP (NEW) CMN COMMON 87970t208 4,928 1,480,000 SH TRX INC. CMN COMMON 898452107 14,251 1,820,000 SH VIGNETTE CORPORATION CMN CLASSCOMMON 926734401 7,026 430,800 SH XERIUM TECHNOLOGIES, INC. CMN COMMON 98416j100 10,092 1,200,000 SH ZIPREALTY, INC. CMN COMMON 98974v107 3,298 391,642 SH GRAFTECH INTERNATIONAL LTD1.62CV 384313ab8 2,905 4,000,000 SH I2 TECHNOLOGIES INC 5.25 CV 465754af6 1,678 1,678,000 SH PRG-SCHULTZ INTERNATIONAL, INCCV 69357caa5 6,200 10,000,000 SH CANNELL CAPITAL LLC Managed Assets as of 12/31/2005 -------------------------------------------------------------------------------- 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.COM CMN CLASS A SOLE 1,733,200 377,300 ABRAXAS PETROLEUM CORPORATION SOLE 869,267 - ACUITY BRANDS INC CMN SOLE 792,300 167,700 ALDERWOODS GROUP INC CMN SOLE 569,300 130,700 AMCON DISTRG CO CMN SOLE 12,500 - ANGELICA CORP. CMN SOLE 57,558 13,600 BADGER METER INC CMN SOLE 49,000 - BALLY TOTAL FITNESS HLDG CORP SOLE 167,531 35,548 BKF CAP GROUP INC CMN SOLE 844,300 155,700 CANTEL MEDICAL CORP. CMN SOLE 112,000 - CARDIAC SCIENCE CORPORATION CM SOLE 1,402,607 326,617 CARREKER CORPORATION CMN SOLE 1,713,909 370,900 CHANNELL COMMERCIAL CORP CMN SOLE 411,000 - CITIZENS FIRST BANCORP INC DEL SOLE 48,835 - COMFORT SYSTEMS USA INC COMMON SOLE 2,201,100 513,900 COMMERCIAL VEHICLE GROUP, INC. SOLE 314,300 70,500 COOPER CAMERON CORP CMN SOLE 772,940 177,060 COST-U-LESS INC CMN SOLE 75,500 - CROWN HOLDINGS INC CMN SOLE 1,728,400 340,000 DOVER SADDLERY, INC. CMN SOLE 227,976 - DRUGSTORE.COM INC CMN SOLE 4,076,700 863,300 ENNIS INC CMN SOLE 1,620,900 334,000 ENTRUST INC CMN SOLE 2,134,268 501,600 FROZEN FOOD EXPRESS INDS INC C SOLE 1,255,685 257,615 FUNDTECH LTD CMN SOLE 1,843,378 437,422 GENERAL CABLE CORP CMN SOLE 1,233,400 266,600 GERBER SCIENTIFIC INC CMN SOLE 1,054,076 213,442 GLOBAL POWER EQUIPMENT INC CMN SOLE 3,362,503 797,497 GORMAN-RUPP CO CMN SOLE 105,000 - GRAFTECH INTERNATIONAL LTD CMN SOLE 4,680,231 1,042,700 GREENFIELD ONLINE, INC. CMN SOLE 408,000 86,000 ICO INC (NEW) CMN SOLE 193,960 - ICO INC DEP SHS REPSTG 1/4 PFD SOLE 87,390 3,000 IKON OFFICE SOLUTIONS INC CMN SOLE 2,468,317 531,683 INTERSECTIONS INC. CMN SOLE 850,600 185,900 JACUZZI BRANDS INC ORD CMN SOLE 263,000 - LAIDLAW INTERNATIONAL, INC. CM SOLE 669,500 150,500 LAYNE CHRISTENSEN COMPANY (NAM SOLE 121,500 - LENNOX INTERNATIONAL INC CMN SOLE 259,700 60,300 MAPINFO CORP CMN SOLE 1,505,493 333,808 MARKETAXESS HOLDINGS INC. CMN SOLE 1,244,800 255,200 MERCER INS GROUP INC CMN SOLE 28,300 - MET-PRO CORPORATION CMN SOLE 203,932 - MFRI INC CMN SOLE 60,345 - MILACRON INC CMN SOLE 4,589,716 1,028,077 MOCON INC CMN SOLE 64,700 - MOTHERS WK INC CMN SOLE 26,312 - MVC CAPITAL INC MUTUAL FUND SOLE 2,386,050 411,500 NAPCO SECURITY SYSTEMS INC CMN SOLE 978,062 221,487 NATCO GROUP INC CMN CLASS A SOLE 1,276,193 275,607 NETOPIA INC. CMN SOLE 1,171,400 253,600 NORTHWEST PIPE COMPANY CMN SOLE 72,000 - OMNICELL INC CMN SOLE 1,255,210 262,200 OPINION RESEARCH CORP CMN SOLE 498,518 108,682 PERMA-FIX ENVIRONMENTAL SERVIC SOLE 1,238,899 - PHASE FORWARD INCORPORATED CMN SOLE 2,144,997 457,900 PICO HOLDINGS INC CMN SOLE 58,000 - PORTEC RAIL PRODUCTS, INC. CMN SOLE 410,159 91,700 POWERSHARES WATER RES PORTF EX SOLE 90,000 - PRIDE INTERNATIONAL INC CMN SOLE 1,111,561 263,439 PXRE GROUP LTD CMN SOLE 2,202,307 90,875 QUADRAMED CORPORATION CMN SOLE 424,100 - QUALITY DISTRIBUTION INC CMN SOLE 1,399,749 300,251 SEABRIGHT INSURANCE HLDG INC C SOLE 1,223,466 290,634 SERVICEMASTER COMPANY CMN SOLE 1,696,800 381,700 SIRVA, INC. CMN SOLE 378,400 91,600 SPECTRUM CONTROL INC CMN SOLE 661,850 95,150 STEWART ENTERPRISES INC CLASS SOLE 2,242,886 532,114 SUPERIOR ESSEX INC CMN SOLE 1,142,889 257,111 SYNAGRO TECHNOLOGIES INC (NEW) SOLE 593,000 - TECHNITROL INC CMN SOLE 869,200 205,800 TELULAR CORP (NEW) CMN SOLE 1,246,302 233,698 TRX INC. CMN SOLE 1,789,400 30,600 VIGNETTE CORPORATION CMN CLASS SOLE 351,400 79,400 XERIUM TECHNOLOGIES, INC. CMN SOLE 986,297 213,703 ZIPREALTY, INC. CMN SOLE 316,442 75,200 GRAFTECH INTERNATIONAL LTD1.625 SOLE 3,279,100 720,900 I2 TECHNOLOGIES INC 5.25 SOLE 1,395,754 282,246 PRG-SCHULTZ INTERNATIONAL, INC4.75SOLE 8,220,700 1,779,300