13F-HR 1 cannell13f-2qtr2005v2.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, 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 8/12/2005 ------------------------ ------------------------- ---------- [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 78 Total: -------------- Form 13F Information Table value $ 860,381 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 6/30/2005 -------------------------------------------------------------------------------- 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.COMCMN CLASS A COMMON 68243q106 18,449 2,620,645 SH ACME COMMUNICATIONS INCCMN COMMON 004631107 5,676 1,411,864 SH ACTUATE CORPORATIONCOMMON STOC COMMON 00508b102 5,789 3,095,473 SH ACUITY BRANDS INCCMN COMMON 00508y102 11,027 429,232 SH ALDERWOODS GROUP INCCMN COMMON 014383103 28,700 2,000,000 SH AMCON DISTRG COCMN COMMON 02341q205 279 12,500 SH BADGER METER INCCMN COMMON 056525108 421 10,193 SH BKF CAP GROUP INCCMN COMMON 05548g102 21,988 580,000 SH BUILD-A-BEAR WORKSHOP, INC.CMN COMMON 120076104 938 40,000 SH CALGON CARBON CORPORATIONCMN COMMON 129603106 1,177 133,000 SH CALLIDUS SOFTWARE INCCMN COMMON 13123e500 7,280 2,000,000 SH CANTEL MEDICAL CORP.CMN COMMON 138098108 695 42,500 SH CHANNELL COMMERCIAL CORPCMN COMMON 159186105 1,527 203,603 SH COMFORT SYSTEMS USA INCCOMMON COMMON 199908104 21,385 3,250,000 SH COOPER CAMERON CORPCMN COMMON 216640102 19,589 315,700 SH CROWN HOLDINGS INCCMN COMMON 228368106 26,516 1,863,400 SH DATASTREAM SYSTEMS INCCMN COMMON 238124101 2,651 364,087 SH DRUGSTORE.COM INCCMN COMMON 262241102 15,875 3,806,846 SH ENNIS INCCMN COMMON 293389102 29,652 1,636,400 SH ENTRUST INCCMN COMMON 293848107 20,693 4,320,000 SH FLOW INTERNATIONAL CORPCMN COMMON 343468104 10,639 1,664,926 SH FROZEN FOOD EXPRESS INDS INCCM COMMON 359360104 14,716 1,300,000 SH FUNDTECH LTDCMN COMMON m47095100 16,023 1,586,426 SH GENERAL CABLE CORPCMN COMMON 369300108 21,895 1,476,400 SH GERBER SCIENTIFIC INCCMN COMMON 373730100 9,767 1,403,315 SH GILAT SATELLITE NETWORKS LTDCM COMMON m51474118 2,864 440,000 SH GLOBAL POWER EQUIPMENT INCCMN COMMON 37941p108 29,687 3,734,200 SH GORMAN-RUPP COCMN COMMON 383082104 1,242 58,000 SH GRAFTECH INTERNATIONAL LTDCMN COMMON 384313102 16,611 3,862,984 SH GRIFFON CORPORATIONCMN COMMON 398433102 14,701 662,200 SH ICO INC DEP SHS REPSTG 1/4PFD COMMON 449293307 1,940 90,390 SH IKON OFFICE SOLUTIONS INCCMN COMMON 451713101 24,060 2,530,000 SH INSITUFORM TECHNOLOGIES INCCMN COMMON 457667103 1,435 90,100 SH INTELLISYNC CORPCMN COMMON 458176104 7,710 2,845,000 SH INTERSECTIONS INC.CMN COMMON 460981301 6,137 525,000 SH LAIDLAW INTERNATIONAL, INC.CMN COMMON 50730r102 22,495 933,400 SH LAYNE CHRISTENSEN COMPANY(NAME COMMON 521050104 1,609 81,000 SH MAPINFO CORPCMN COMMON 565105103 20,643 1,964,097 SH MARKETAXESS HOLDINGS INC.CMN COMMON 57060d108 14,493 1,282,549 SH METAL MANAGEMENT INC.CMN COMMON 591097209 10,024 518,300 SH MET-PRO CORPORATIONCMN COMMON 590876306 1,368 90,000 SH MILACRON INCCMN COMMON 598709103 7,221 3,820,700 SH MOCON INCCMN COMMON 607494101 227 24,200 SH MVC CAPITAL INCMUTUAL FUND COMMON 553829102 27,901 2,787,350 SH NAPCO SECURITY SYSTEMS INCCMN COMMON 630402105 8,741 861,136 SH NATCO GROUP INCCMN CLASS A COMMON 63227w203 22,948 1,724,100 SH NATIONAL RESEARCH CORPCMN COMMON 637372103 7,104 439,871 SH NETEASE.COM INCSPONSORED ADR COMMON 64110w102 9,994 175,000 SH NETOPIA INC.CMN COMMON 64114k104 1,624 558,000 SH NORTHWEST PIPE COMPANYCMN COMMON 667746101 1,182 50,858 SH OMNICELL INCCMN COMMON 68213n109 4,365 496,000 SH OPINION RESEARCH CORPCMN COMMON 683755102 3,747 502,899 SH PHASE FORWARD INCORPORATEDCMN COMMON 71721r406 8,699 1,279,200 SH PICO HOLDINGS INCCMN COMMON 693366205 1,533 51,500 SH PORTEC RAIL PRODUCTS, INC.CMN COMMON 736212101 4,060 375,896 SH PRG-SCHULTZ INTERNATIONAL INCC COMMON 69357c107 14,713 5,217,351 SH PRIDE INTERNATIONAL INCCMN COMMON 74153q102 29,899 1,163,368 SH QUADRAMED CORPORATIONCMN COMMON 74730w101 131 75,000 SH QUALITY DISTRIBUTION INCCMN COMMON 74756m102 13,275 1,500,000 SH QUINTON CARDIOLOGY SYSTEMSCMN COMMON 748773108 7,259 902,882 SH RADCOM LTDCMN COMMON m81865103 2,586 1,586,793 SH RANGE RESOURCES CORPORATIONCMN COMMON 75281a109 20,016 744,106 SH S1 CORPORATIONCMN COMMON 78463b101 11,737 2,491,937 SH SCHNITZER STEEL INDUSTRIES,INC COMMON 806882106 7,001 295,400 SH SEABRIGHT INSURANCE HLDG INCCM COMMON 811656107 16,263 1,422,852 SH SERVICEMASTER COMPANYCMN COMMON 81760n109 20,683 1,543,500 SH SPECTRUM CONTROL INCCMN COMMON 847615101 7,422 1,102,758 SH STEWART ENTERPRISES INCCLASS A COMMON 860370105 25,572 3,934,100 SH STINGER SYS INCCMN COMMON 860837103 6,230 1,400,000 SH SUPERIOR ESSEX INCCMN COMMON 86815v105 22,455 1,267,900 SH SYNAGRO TECHNOLOGIES INC (NEW) COMMON 871562203 2,129 440,771 SH SYNAGRO TECHNOLOGIES INC (NEW) COMMON 871562203 2,701 559,229 SH TELULAR CORP (NEW)CMN COMMON 87970t208 5,036 1,678,504 SH THE NASDAQ STOCK MARKET, INC.C COMMON 631103108 18,006 954,700 SH UNITED FINANCIAL CORPCMN COMMON 909919102 145 6,000 SH USEC INCCMN COMMON 90333e108 14,686 1,003,144 SH GRAFTECH INTERNATIONAL LTD CV 384313ab8 3,313 5,000,000 SH PRG-SCHULTZ INTERNATIONAL, INC CV 69357caa5 9,416 11,500,000 SH CANNELL CAPITAL LLC Managed Assets as of 6/30/2005 -------------------------------------------------------------------------------- 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.COMCMN CLASS A SOLE 2,190,645 430,000 ACME COMMUNICATIONS INCCMN SOLE 1,208,553 203,311 ACTUATE CORPORATIONCOMMON STOC SOLE 2,589,308 506,165 ACUITY BRANDS INCCMN SOLE 352,232 77,000 ALDERWOODS GROUP INCCMN SOLE 1,717,300 282,700 AMCON DISTRG COCMN SOLE 12,500 - BADGER METER INCCMN SOLE 10,193 - BKF CAP GROUP INCCMN SOLE 475,300 104,700 BUILD-A-BEAR WORKSHOP, INC.CMN SOLE 32,800 7,200 CALGON CARBON CORPORATIONCMN SOLE 133,000 - CALLIDUS SOFTWARE INCCMN SOLE 1,657,629 342,371 CANTEL MEDICAL CORP.CMN SOLE 42,500 - CHANNELL COMMERCIAL CORPCMN SOLE 203,603 - COMFORT SYSTEMS USA INCCOMMON SOLE 2,661,200 588,800 COOPER CAMERON CORPCMN SOLE 258,700 57,000 CROWN HOLDINGS INCCMN SOLE 1,579,200 284,200 DATASTREAM SYSTEMS INCCMN SOLE 271,127 92,960 DRUGSTORE.COM INCCMN SOLE 3,120,246 686,600 ENNIS INCCMN SOLE 1,341,300 295,100 ENTRUST INCCMN SOLE 3,536,200 783,800 FLOW INTERNATIONAL CORPCMN SOLE 1,405,726 259,200 FROZEN FOOD EXPRESS INDS INCCM SOLE 1,069,185 230,815 FUNDTECH LTDCMN SOLE 1,311,904 274,522 GENERAL CABLE CORPCMN SOLE 1,209,800 266,600 GERBER SCIENTIFIC INCCMN SOLE 1,181,773 221,542 GILAT SATELLITE NETWORKS LTDCM SOLE 360,500 79,500 GLOBAL POWER EQUIPMENT INCCMN SOLE 3,070,203 663,997 GORMAN-RUPP COCMN SOLE 58,000 - GRAFTECH INTERNATIONAL LTDCMN SOLE 3,165,284 697,700 GRIFFON CORPORATIONCMN SOLE 543,300 118,900 ICO INC DEP SHS REPSTG 1/4PFD SOLE 87,390 3,000 IKON OFFICE SOLUTIONS INCCMN SOLE 2,069,600 460,400 INSITUFORM TECHNOLOGIES INCCMN SOLE 90,100 - INTELLISYNC CORPCMN SOLE 2,331,800 513,200 INTERSECTIONS INC.CMN SOLE 430,500 94,500 LAIDLAW INTERNATIONAL, INC.CMN SOLE 781,400 152,000 LAYNE CHRISTENSEN COMPANY(NAME SOLE 81,000 - MAPINFO CORPCMN SOLE 1,609,449 354,648 MARKETAXESS HOLDINGS INC.CMN SOLE 1,051,449 231,100 METAL MANAGEMENT INC.CMN SOLE 424,900 93,400 MET-PRO CORPORATIONCMN SOLE 90,000 - MILACRON INCCMN SOLE 3,130,700 690,000 MOCON INCCMN SOLE 24,200 - MVC CAPITAL INCMUTUAL FUND SOLE 2,383,350 404,000 NAPCO SECURITY SYSTEMS INCCMN SOLE 704,878 156,258 NATCO GROUP INCCMN CLASS A SOLE 1,411,631 312,469 NATIONAL RESEARCH CORPCMN SOLE 387,321 52,550 NETEASE.COM INCSPONSORED ADR SOLE 143,300 31,700 NETOPIA INC.CMN SOLE 457,000 101,000 NORTHWEST PIPE COMPANYCMN SOLE 50,858 - OMNICELL INCCMN SOLE 406,600 89,400 OPINION RESEARCH CORPCMN SOLE 412,217 90,682 PHASE FORWARD INCORPORATEDCMN SOLE 1,048,500 230,700 PICO HOLDINGS INCCMN SOLE 51,500 - PORTEC RAIL PRODUCTS, INC.CMN SOLE 311,296 64,600 PRG-SCHULTZ INTERNATIONAL INCC SOLE 4,280,370 936,981 PRIDE INTERNATIONAL INCCMN SOLE 953,023 210,345 QUADRAMED CORPORATIONCMN SOLE 61,500 13,500 QUALITY DISTRIBUTION INCCMN SOLE 1,229,849 270,151 QUINTON CARDIOLOGY SYSTEMSCMN SOLE 738,568 164,314 RADCOM LTDCMN SOLE 1,387,293 199,500 RANGE RESOURCES CORPORATIONCMN SOLE 609,213 134,893 S1 CORPORATIONCMN SOLE 2,041,837 450,100 SCHNITZER STEEL INDUSTRIES,INC SOLE 242,100 53,300 SEABRIGHT INSURANCE HLDG INCCM SOLE 1,188,652 234,200 SERVICEMASTER COMPANYCMN SOLE 1,289,800 253,700 SPECTRUM CONTROL INCCMN SOLE 964,399 138,359 STEWART ENTERPRISES INCCLASS A SOLE 3,223,969 710,131 STINGER SYS INCCMN SOLE 1,400,000 - SUPERIOR ESSEX INCCMN SOLE 1,037,389 230,511 SYNAGRO TECHNOLOGIES INC (NEW) SOLE 361,547 79,224 SYNAGRO TECHNOLOGIES INC (NEW) SOLE 559,229 - TELULAR CORP (NEW)CMN SOLE 1,414,806 263,698 THE NASDAQ STOCK MARKET, INC.C SOLE 782,189 172,511 UNITED FINANCIAL CORPCMN SOLE 6,000 - USEC INCCMN SOLE 820,393 182,751 GRAFTECH INTERNATIONAL LTD SOLE 4,098,900 901,100 PRG-SCHULTZ INTERNATIONAL, INC SOLE 9,405,600 2,094,400