White smoke on a cold start with a diesel usually indicates too much fuel going through the cylinder or not enough heat to burn what fuel is is going in. On really cold days, my 7040 will emit a white haze until the engine is really good and warmed up.
Greensvillejay certainly has a valid point about water but the filters should be eliminating that.
I would suggest that you run a good diesel additive through your system. You may have an injector sticking and some additive such as Howes, Power Service, Diesel Kleen or Stanadyne may help with that. As I mentioned above, the white smoke may be too much fuel going through a cylinder and not combusting. Think of it as an oil drip on an exhaust manifold…..you get white smoke.
If you suspect water in your fuel, go with the Stanadyne. It contains no alcohol and removes the water from the fuel solution and the particles are trapped in the fuel filter instead of being dispersed in the fuel and going through the pump and injectors causing corrosion and sticking injectors from deposits.
Also, are you giving it throttle when it begins to fire? I had to use an old Case tractor (40 years old) last year. During cold weather, I would have to cycle the glow plugs three times, then start cranking. The engine was a 6 cylinder and they would light off one by one. It would blow white smoke rings and I would add throttle and it would finally run on all six. Loved cranking that thing.