Cutler Capital Management, LLC
CIK 1353098 · View on SEC EDGAR ↗
- Portfolio value
- $385.0M
- Positions
- 124
- As of
- June 30, 2026
#4,465 of 9,443 by 13F value · top 47.3%
Portfolio value QoQ: +4.1% 13F does not disclose cash
- Top 10 holdings weight
- 30.77%
- Top 25 holdings weight
- 57.52%
- Positions above 1%
- 41
- Effective number of positions
- 53.9
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 1.36% Est. buys $74,609,371 · sells $5,128,767
Median holding: 5.0 quarters Tracked Q4 2024–Q2 2026 · 65.6% still held
- New positions
- 34
- Increased
- 34
- Decreased
- 35
- Closed
- 3
On this page
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Sector breakdown
Financials
23.3%
Real Estate
8.2%
Energy
6.6%
Healthcare
5.3%
Materials
5.2%
Consumer Staples
2.5%
Telecommunication
2.1%
Financial Services
1.1%
Consumer products
0.9%
Retail
0.8%
Industrials
0.6%
Technology
0.4%
Utilities
0.1%
Communication Services
0.1%
Other/Unmapped
42.7%
Full portfolio 124 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| AEM Agnico Eagle Mines Limited Common Stock | $18,046,817 | 4.69% | 116,334 | $-6,026,204 | Down ×6 | ||
| MET MetLife, Inc. Common Stock | $14,513,569 | 3.77% | 171,535 | $2,083,918 | Down ×1 | ||
| CTO CTO Realty Growth, Inc. Common Stock | $14,008,897 | 3.64% | 651,274 | $1,817,143 | Down ×3 | ||
| TSBK Timberland Bancorp, Inc. - Common Stock | $12,782,426 | 3.32% | 285,258 | $1,300,351 | Down ×2 | ||
| EXSR | $12,364,110 | 3.21% | 74,934 | $1,330,396 | Down ×3 | ||
| PKBK Parke Bancorp, Inc. - Common Stock | $10,416,421 | 2.71% | 314,126 | $1,401,535 | Down ×1 | ||
| SBFG SB Financial Group, Inc. - Common Stock | $9,801,014 | 2.55% | 387,852 | $1,608,145 | Down ×5 | ||
| FBIZ First Business Financial Services, Inc. - Common Stock | $9,750,014 | 2.53% | 154,346 | $1,412,951 | Down ×1 | ||
| SHEL Shell PLC American Depositary Shares (each representing two (2) Ordinary Shares) | $8,479,846 | 2.20% | 109,361 | $-1,815,346 | Down ×2 | ||
| BG Bunge Limited Common Shares | $8,302,710 | 2.16% | 77,792 | $-1,791,826 | Down ×3 | ||
| Unknown issuer (CUSIP: 531229AP7) | $8,067,906 | 2.10% | 7,033,000 | Up ×1 | |||
| FENY | $7,908,692 | 2.05% | 267,547 | $-1,185,369 | Up ×1 | ||
| BMBN | $7,442,559 | 1.93% | 179,382 | $1,168,336 | Up ×3 | ||
| VTRS Viatris Inc. - Common Stock | $7,120,011 | 1.85% | 448,363 | $955,780 | Down ×3 | ||
| Unknown issuer (CUSIP: 743312AD2) | $7,085,193 | 1.84% | 7,390,000 | Up ×1 | |||
| MRK Merck & Company, Inc. Common Stock (new) | $7,075,656 | 1.84% | 55,048 | $51,160 | Down ×2 | ||
| Unknown issuer (CUSIP: 69352PAS2) | $6,893,175 | 1.79% | 6,065,000 | Up ×1 | |||
| GMRE | $6,760,309 | 1.76% | 180,161 | $1,063,568 | Up ×3 | ||
| Unknown issuer (CUSIP: 45781MAD3) | $6,642,860 | 1.73% | 6,195,000 | Up ×1 | |||
| ET Energy Transfer LP Common Units | $6,614,764 | 1.72% | 345,960 | $-665,158 | Down ×1 | ||
| BORT | $6,521,261 | 1.69% | 122,465 | $765,406 | |||
| CPKF | $6,438,600 | 1.67% | 178,850 | $728,385 | Up ×1 | ||
| BACPRL | $6,153,323 | 1.60% | 4,905 | $2,155,639 | Up ×1 | ||
| VZ Verizon Communications Inc. Common Stock | $6,149,356 | 1.60% | 145,238 | $-947,215 | Up ×6 | ||
| LFGP | $6,119,890 | 1.59% | 343,621 | $402,987 | Up ×1 | ||
| FXNC First National Corporation - Common Stock | $6,118,357 | 1.59% | 203,809 | $623,733 | Down ×1 | ||
| PFE Pfizer, Inc. Common Stock | $5,904,050 | 1.53% | 245,185 | $-1,081,426 | Down ×3 | ||
| PTBS | $5,527,823 | 1.44% | 231,048 | $965,277 | Up ×6 | ||
| KIMPRN | $5,476,428 | 1.42% | 87,693 | Up ×1 | |||
| VICI VICI Properties Inc. Common Stock | $5,343,892 | 1.39% | 201,181 | $-193,451 | Down ×1 | ||
| MFGI | $5,233,502 | 1.36% | 132,830 | $781,365 | Up ×4 | ||
| APLE Apple Hospitality REIT, Inc. Common Shares | $5,057,741 | 1.31% | 300,869 | $1,597,027 | Up ×6 | ||
| Unknown issuer (CUSIP: 665531AJ8) | $5,040,334 | 1.31% | 5,265,000 | Up ×1 | |||
| FMBM | $4,890,850 | 1.27% | 134,364 | $749,715 | Down ×1 | ||
| WY Weyerhaeuser Company Common Stock | $4,546,288 | 1.18% | 189,903 | $292,781 | Up ×6 | ||
| CWBC Community West Bancshares - Common Stock | $4,355,057 | 1.13% | 162,139 | $566,720 | Down ×2 | ||
| CSBB | $4,196,448 | 1.09% | 58,284 | $45,579 | Down ×2 | ||
| ALRS Alerus Financial Corporation - Common Stock | $4,179,840 | 1.09% | 134,400 | $944,136 | Down ×5 | ||
| NOG Northern Oil and Gas, Inc. Common Stock | $4,063,952 | 1.06% | 223,884 | $1,912,365 | Up ×2 | ||
| FSBH | $3,912,000 | 1.02% | 240,000 | $72,000 | |||
| MOAT | $3,899,315 | 1.01% | 37,508 | $345,315 | Up ×6 | ||
| ENR Energizer Holdings, Inc. Common Stock | $3,403,241 | 0.88% | 158,733 | $941,802 | Up ×2 | ||
| SFL SFL Corporation Ltd | $3,286,871 | 0.85% | 322,242 | $-283,457 | Down ×3 | ||
| BBT Beacon Financial Corporation Common stock | $2,962,955 | 0.77% | 97,306 | $645,809 | Up ×3 | ||
| ABCB Ameris Bancorp Common Stock | $2,776,311 | 0.72% | 30,759 | $291,624 | Down ×3 | ||
| Unknown issuer (CUSIP: 531229AQ5) | $2,756,043 | 0.72% | 2,220,000 | Up ×1 | |||
| LXP LXP Industrial Trust Common Stock (Maryland REIT) | $2,666,336 | 0.69% | 49,487 | $162,979 | Down ×1 | ||
| HCI HCI Group, Inc. Common Stock | $2,569,547 | 0.67% | 14,662 | $234,338 | Down ×2 | ||
| ACI Albertsons Companies, Inc. Class A Common Stock | $2,505,580 | 0.65% | 185,187 | $-44,661 | Up ×2 | ||
| FCCO First Community Corporation - Common Stock | $2,500,020 | 0.65% | 76,500 | $263,925 | |||
| AIG American International Group, Inc. New Common Stock | $2,459,490 | 0.64% | 33,000 | $-23,760 | |||
| VOO | $2,377,454 | 0.62% | 3,462 | $479,084 | Up ×4 | ||
| SLB SLB Limited Common Shares | $2,374,580 | 0.62% | 51,074 | $-146,329 | Up ×1 | ||
| FLGPRU | $2,210,204 | 0.57% | 53,868 | Up ×1 | |||
| Unknown issuer (CUSIP: 974637AF7) | $2,149,749 | 0.56% | 2,310,000 | Up ×1 | |||
| Unknown issuer (CUSIP: 84762LAZ8) | $2,044,261 | 0.53% | 1,965,000 | Up ×1 | |||
| T AT&T Inc. | $2,035,180 | 0.53% | 98,318 | $230,378 | Up ×1 | ||
| FISI Financial Institutions, Inc. - Common Stock | $1,926,191 | 0.50% | 49,428 | $358,844 | |||
| CNH CNH Industrial N.V. Common Shares | $1,922,950 | 0.50% | 171,233 | $53,629 | Up ×1 | ||
| PFIS Peoples Financial Services Corp. - Common Stock | $1,907,893 | 0.50% | 28,746 | $374,752 | Down ×1 | ||
| Unknown issuer (CUSIP: 02079K602) | $1,900,083 | 0.49% | 37,775 | Up ×1 | |||
| Unknown issuer (CUSIP: 163072AC5) | $1,853,675 | 0.48% | 1,455,000 | Up ×1 | |||
| GDX GDX | $1,746,069 | 0.45% | 23,142 | $-282,696 | Up ×1 | ||
| Unknown issuer (CUSIP: 405024AD2) | $1,744,194 | 0.45% | 1,725,000 | Up ×1 | |||
| Unknown issuer (CUSIP: 29786AAL0) | $1,708,286 | 0.44% | 1,805,000 | Up ×1 | |||
| BANC Banc of California, Inc. Common Stock | $1,645,637 | 0.43% | 80,550 | $247,148 | Up ×2 | ||
| Unknown issuer (CUSIP: 92939UAT3) | $1,557,788 | 0.40% | 1,500,000 | Up ×1 | |||
| Unknown issuer (CUSIP: 40171VAC4) | $1,531,958 | 0.40% | 1,595,000 | Up ×1 | |||
| TSN Tyson Foods, Inc. Common Stock | $1,507,946 | 0.39% | 26,340 | $-222,371 | Down ×3 | ||
| Unknown issuer (CUSIP: 928298AR9) | $1,459,408 | 0.38% | 735,000 | Up ×1 | |||
| Unknown issuer (CUSIP: 695127AJ9) | $1,431,091 | 0.37% | 1,435,000 | Up ×1 | |||
| SOBS | $1,222,459 | 0.32% | 37,591 | $134,321 | Up ×1 | ||
| IAT | $1,119,780 | 0.29% | 18,000 | $150,660 | |||
| CZBT | $1,096,786 | 0.28% | 28,525 | $27,098 | |||
| VT | $962,888 | 0.25% | 6,135 | Up ×1 | |||
| WIW Western Asset Inflation-Linked Opportunities & Income Fund | $940,731 | 0.24% | 111,992 | $43,195 | Up ×2 | ||
| VGM Invesco Trust for Investment Grade Municipals Common Stock (DE) | $912,843 | 0.24% | 86,117 | $62,865 | |||
| HWC Hancock Whitney Corporation - Common Stock | $814,304 | 0.21% | 10,898 | $121,296 | |||
| AGI Alamos Gold Inc. Class A Common Shares | $785,703 | 0.20% | 25,897 | $304,882 | Up ×1 | ||
| Unknown issuer (CUSIP: 03209RAB9) | $758,229 | 0.20% | 835,000 | Up ×1 | |||
| MTB M&T Bank Corporation Common Stock | $756,711 | 0.20% | 3,179 | $87,285 | Down ×1 | ||
| IFF International Flavors & Fragrances, Inc. Common Stock | $683,319 | 0.18% | 8,602 | $-2,346 | Down ×3 | ||
| QABA First Trust NASDAQ ABA Community Bank Index Fund | $664,002 | 0.17% | 9,868 | $69,506 | Down ×1 | ||
| MSFT Microsoft Corporation - Common Stock | $623,208 | 0.16% | 1,671 | $13,908 | Up ×1 | ||
| BRKB | $600,468 | 0.16% | 1,200 | $-36,868 | Down ×1 | ||
| SSB SouthState Bank Corporation Common Stock | $588,406 | 0.15% | 5,890 | $55,982 | Up ×2 | ||
| IUSV iShares Core S&P U.S. Value ETF | $501,183 | 0.13% | 4,550 | $35,945 | |||
| ORCL Oracle Corporation Common Stock | $439,650 | 0.11% | 3,000 | $-1,680 | |||
| ABBV AbbVie Inc. Common Stock | $409,922 | 0.11% | 1,629 | $-6,571 | Down ×1 | ||
| JPM JP Morgan Chase & Co. Common Stock | $392,141 | 0.10% | 1,198 | $42,679 | Up ×1 | ||
| SBCF Seacoast Banking Corporation of Florida - Common Stock | $359,974 | 0.09% | 10,826 | $32,046 | |||
| SPY SPY | $334,307 | 0.09% | 448 | $21,378 | Down ×5 | ||
| SKE Skeena Resources Limited Common Shares | $316,721 | 0.08% | 11,880 | $-36,353 | |||
| GLD | $310,176 | 0.08% | 842 | $113,964 | Up ×1 | ||
| FFSM | $300,331 | 0.08% | 7,860 | $40,737 | Down ×1 | ||
| ES Eversource Energy (D/B/A) Common Stock | $299,704 | 0.08% | 4,147 | $5,472 | Down ×4 | ||
| KR Kroger Company (The) Common Stock | $277,907 | 0.07% | 5,005 | $-80,610 | Up ×1 | ||
| FRAF Franklin Financial Services Corporation - Common Stock | $275,440 | 0.07% | 4,400 | $50,688 | |||
| ALBPRA | $258,761 | 0.07% | 4,675 | $-77,138 | |||
| Unknown issuer (CUSIP: 85571BBA2) | $249,768 | 0.06% | 245,000 | Up ×1 | |||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
| Security | Value | % of portfolio | Streak |
|---|---|---|---|
| BMBN | $7,442,559 | 1.93% | up ×3 |
| GMRE | $6,760,309 | 1.76% | up ×3 |
| VZ | $6,149,356 | 1.60% | up ×6 |
| PTBS | $5,527,823 | 1.44% | up ×6 |
| MFGI | $5,233,502 | 1.36% | up ×4 |
| APLE | $5,057,741 | 1.31% | up ×6 |
| WY | $4,546,288 | 1.18% | up ×6 |
| MOAT | $3,899,315 | 1.01% | up ×6 |
| BBT | $2,962,955 | 0.77% | up ×3 |
| VOO | $2,377,454 | 0.62% | up ×4 |
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| Unknown issuer (CUSIP: 531229AP7) | $8,067,906 | 7,033,000 | 2.10% |
| Unknown issuer (CUSIP: 743312AD2) | $7,085,193 | 7,390,000 | 1.84% |
| Unknown issuer (CUSIP: 69352PAS2) | $6,893,175 | 6,065,000 | 1.79% |
| Unknown issuer (CUSIP: 45781MAD3) | $6,642,860 | 6,195,000 | 1.73% |
| KIMPRN | $5,476,428 | 87,693 | 1.42% |
| Unknown issuer (CUSIP: 665531AJ8) | $5,040,334 | 5,265,000 | 1.31% |
| Unknown issuer (CUSIP: 531229AQ5) | $2,756,043 | 2,220,000 | 0.72% |
| FLGPRU | $2,210,204 | 53,868 | 0.57% |
| Unknown issuer (CUSIP: 974637AF7) | $2,149,749 | 2,310,000 | 0.56% |
| Unknown issuer (CUSIP: 84762LAZ8) | $2,044,261 | 1,965,000 | 0.53% |
| Unknown issuer (CUSIP: 02079K602) | $1,900,083 | 37,775 | 0.49% |
| Unknown issuer (CUSIP: 163072AC5) | $1,853,675 | 1,455,000 | 0.48% |
| Unknown issuer (CUSIP: 405024AD2) | $1,744,194 | 1,725,000 | 0.45% |
| Unknown issuer (CUSIP: 29786AAL0) | $1,708,286 | 1,805,000 | 0.44% |
| Unknown issuer (CUSIP: 92939UAT3) | $1,557,788 | 1,500,000 | 0.40% |
Top movers (QoQ)
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| GMREXXXX | Sept. 30, 2025 | 472,938 | $3,277,460 | No longer tracked |
| LXPXXXX | March 31, 2026 | 54,226 | $2,688,525 | No longer tracked |
| EPRPRC | March 31, 2026 | 81,995 | $1,818,649 | No longer tracked |
| MNSB | June 30, 2025 | 86,297 | $1,442,880 | 31.0% |
| SPYM | March 31, 2026 | 9,995 | $801,799 | No longer tracked |
| SPLV | Dec. 31, 2025 | 10,150 | $795,151 | No longer tracked |
| SPYM | Sept. 30, 2025 | 10,150 | $737,804 | No longer tracked |
| SSBXXXX | Dec. 31, 2025 | 5,688 | $562,324 | No longer tracked |
| BRBS | March 31, 2025 | 160,000 | $515,200 | No longer tracked |
| CLVT | Dec. 31, 2025 | 87,588 | $335,462 | -39.5% |
| TTE | March 31, 2025 | 6,082 | $331,469 | 42.0% |
| FBTC | Dec. 31, 2025 | 2,555 | $255,021 | No longer tracked |
| MCHN | March 31, 2025 | 33,515 | $251,363 | No longer tracked |
| SCHF | Dec. 31, 2025 | 6,000 | $139,680 | No longer tracked |
| COST | June 30, 2025 | 132 | $124,843 | -5.3% |
| IWS | Dec. 31, 2025 | 886 | $123,748 | No longer tracked |
| WMT | June 30, 2025 | 1,385 | $121,589 | 6.7% |
| SO | June 30, 2025 | 1,258 | $115,673 | 0.7% |
| SO | Dec. 31, 2025 | 1,184 | $112,208 | 6.0% |
| MOTG | June 30, 2026 | 2,925 | $108,396 | No longer tracked |
| GOOG | June 30, 2026 | 375 | $107,573 | -3.7% |
| RSP | March 31, 2026 | 560 | $107,274 | No longer tracked |
| IEI | June 30, 2025 | 902 | $106,558 | |
| SHY | Sept. 30, 2025 | 1,286 | $106,558 | |
| JCI | June 30, 2026 | 800 | $104,760 | -1.1% |
| META | Dec. 31, 2025 | 141 | $103,548 | -17.2% |
| LOW | June 30, 2025 | 442 | $103,088 | -1.4% |
| B | March 31, 2026 | 2,325 | $101,254 | 11.4% |