CUTLER INVESTMENT COUNSEL LLC
CIK 1285973 · View on SEC EDGAR ↗
- Portfolio value
- $1.1B
- Positions
- 157
- As of
- June 30, 2026
#2,351 of 9,443 by 13F value · top 24.9%
Portfolio value QoQ: +9.4% 13F does not disclose cash
- Top 10 holdings weight
- 36.54%
- Top 25 holdings weight
- 62.79%
- Positions above 1%
- 34
- Effective number of positions
- 47.0
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 1.91% Est. buys $108,988,516 · sells $19,368,661
Median holding: 7.0 quarters Tracked Q4 2024–Q2 2026 · 90.8% still held
- New positions
- 14
- Increased
- 76
- Decreased
- 45
- 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
Industrials
9.9%
Technology
6.8%
Healthcare
5.8%
Retail
5.4%
Financial Services
3.5%
Financials
3.4%
Energy
3.2%
Utilities
1.6%
Consumer Discretionary
1.6%
Consumer products
1.2%
Consumer Staples
1.0%
Telecommunication
0.9%
Communications
0.8%
Communication Services
0.4%
Other/Unmapped
54.4%
Full portfolio 157 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| VO | $52,735,462 | 4.96% | 654,530 | $6,422,826 | Up ×1 | ||
| IEFA | $48,051,633 | 4.52% | 497,532 | $3,617,483 | Up ×1 | ||
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | $46,211,259 | 4.35% | 881,726 | $1,372,971 | Up ×6 | ||
| SPEM | $41,859,836 | 3.94% | 808,417 | $4,254,825 | Up ×1 | ||
| JIRE | $39,627,334 | 3.73% | 480,390 | $4,224,977 | Up ×5 | ||
| IUSG iShares Core S&P U.S. Growth ETF | $35,621,393 | 3.35% | 189,385 | $6,435,155 | Up ×1 | ||
| CAT Caterpillar, Inc. Common Stock | $32,932,450 | 3.10% | 30,925 | $6,136,120 | Down ×6 | ||
| IJR | $30,892,958 | 2.91% | 208,300 | $5,361,526 | Up ×6 | ||
| VUG | $30,637,845 | 2.88% | 355,675 | $4,944,290 | Up ×1 | ||
| SPAB | $29,622,700 | 2.79% | 1,160,764 | $957,554 | Up ×5 | ||
| GOVT | $26,191,570 | 2.47% | 1,149,762 | $719,112 | Up ×5 | ||
| MSFT Microsoft Corporation - Common Stock | $25,089,861 | 2.36% | 67,261 | $82,168 | Down ×4 | ||
| WMT Walmart Inc. - Common Stock | $24,587,816 | 2.31% | 217,092 | $-2,497,939 | Down ×6 | ||
| RTX RTX Corporation Common Stock | $21,861,220 | 2.06% | 115,223 | $-315,621 | Up ×1 | ||
| DE Deere & Company Common Stock | $20,548,976 | 1.93% | 32,312 | $2,273,652 | Down ×6 | ||
| SCHW Charles Schwab Corporation (The) Common Stock | $17,238,745 | 1.62% | 186,829 | $-272,634 | Up ×1 | ||
| BLK BlackRock, Inc. Common Stock | $16,857,029 | 1.59% | 17,531 | $27,244 | Up ×1 | ||
| TXN Texas Instruments Incorporated - Common Stock | $16,850,702 | 1.59% | 56,533 | $5,912,947 | Up ×1 | ||
| RSG Republic Services, Inc. Common Stock | $16,516,263 | 1.55% | 77,512 | $-463,675 | Down ×6 | ||
| XOM Exxon Mobil Corporation Common Stock | $16,331,064 | 1.54% | 119,449 | $-3,859,913 | Up ×1 | ||
| NEE NextEra Energy, Inc. Common Stock | $16,272,140 | 1.53% | 185,395 | $3,793,210 | Up ×1 | ||
| HD Home Depot, Inc. (The) Common Stock | $16,231,292 | 1.53% | 46,023 | $1,035,083 | Down ×4 | ||
| CVS CVS Health Corporation Common Stock | $15,507,282 | 1.46% | 149,901 | $4,769,158 | Up ×1 | ||
| JPM JP Morgan Chase & Co. Common Stock | $14,932,712 | 1.41% | 45,620 | $1,424,670 | Down ×1 | ||
| SPYM | $13,829,051 | 1.30% | 157,363 | $2,670,906 | Up ×5 | ||
| MCD McDonald's Corporation Common Stock | $13,625,947 | 1.28% | 50,409 | $-2,020,582 | Up ×1 | ||
| RPG | $13,069,470 | 1.23% | 204,690 | $3,443,521 | Down ×6 | ||
| JNJ Johnson & Johnson Common Stock | $12,710,234 | 1.20% | 50,046 | $531,496 | Up ×1 | ||
| IBM International Business Machines Corporation Common Stock | $11,923,750 | 1.12% | 42,402 | $1,647,052 | Up ×1 | ||
| MRK Merck & Company, Inc. Common Stock (new) | $11,350,644 | 1.07% | 87,765 | $736,597 | Up ×1 | ||
| CVX Chevron Corporation Common Stock | $10,941,565 | 1.03% | 66,008 | $-2,673,800 | Up ×1 | ||
| PNC PNC Financial Services Group, Inc. (The) Common Stock | $10,836,358 | 1.02% | 44,011 | $1,667,360 | Down ×6 | ||
| IVV | $10,659,809 | 1.00% | 14,234 | $1,605,799 | Up ×3 | ||
| CARR Carrier Global Corporation Common Stock | $10,657,795 | 1.00% | 145,301 | $2,469,242 | Down ×6 | ||
| VZ Verizon Communications Inc. Common Stock | $9,894,452 | 0.93% | 233,690 | $-1,827,705 | Up ×1 | ||
| VSS | $9,871,109 | 0.93% | 63,978 | $808,072 | Up ×5 | ||
| KR Kroger Company (The) Common Stock | $9,708,027 | 0.91% | 174,825 | $-2,954,700 | Down ×6 | ||
| REET | $9,503,636 | 0.89% | 344,085 | $1,183,998 | Up ×5 | ||
| MTB M&T Bank Corporation Common Stock | $9,220,874 | 0.87% | 38,742 | $1,209,777 | Down ×6 | ||
| MDT Medtronic plc. Ordinary Shares | $9,043,987 | 0.85% | 114,555 | $-991,685 | Down ×6 | ||
| CSCO Cisco Systems, Inc. - Common Stock | $9,022,808 | 0.85% | 76,816 | $8,508,851 | Up ×4 | ||
| EMLC | $8,725,240 | 0.82% | 341,363 | $360,133 | Up ×1 | ||
| PG Procter & Gamble Company (The) Common Stock | $8,676,479 | 0.82% | 59,169 | $78,215 | Down ×6 | ||
| SCHA | $7,912,293 | 0.74% | 218,995 | $2,043,941 | Up ×3 | ||
| BIV | $7,884,179 | 0.74% | 102,792 | $843,976 | Up ×1 | ||
| Q Qnity Electronics, Inc. Common Stock | $7,818,680 | 0.74% | 47,876 | $2,299,328 | Up ×1 | ||
| PEP PepsiCo, Inc. - Common Stock | $7,686,006 | 0.72% | 56,765 | $-1,097,817 | Up ×1 | ||
| VEA | $7,663,211 | 0.72% | 107,554 | $1,483,886 | Up ×5 | ||
| VTV | $7,574,681 | 0.71% | 34,757 | $1,006,788 | Up ×2 | ||
| EFAV | $7,039,955 | 0.66% | 80,264 | $-354,901 | Down ×6 | ||
| AAPL Apple Inc. - Common Stock | $6,966,411 | 0.66% | 24,075 | $816,151 | Down ×2 | ||
| VTI | $6,953,428 | 0.65% | 18,791 | $830,578 | Down ×4 | ||
| PSX Phillips 66 Common Stock | $6,640,557 | 0.63% | 39,282 | $-516,371 | Down ×1 | ||
| BDX Becton, Dickinson and Company Common Stock | $6,138,086 | 0.58% | 40,561 | $-240,388 | Down ×6 | ||
| SCHD | $5,177,043 | 0.49% | 163,262 | $361,851 | Up ×1 | ||
| VWO | $4,855,010 | 0.46% | 81,337 | $876,672 | Up ×3 | ||
| PDN | $4,359,432 | 0.41% | 96,912 | $107,654 | Down ×4 | ||
| BND Vanguard Total Bond Market ETF | $4,236,733 | 0.40% | 57,713 | $598,251 | Up ×6 | ||
| Unknown issuer (CUSIP: 26614N201) | $4,154,608 | 0.39% | 30,630 | Up ×1 | |||
| PFE Pfizer, Inc. Common Stock | $3,927,639 | 0.37% | 163,108 | $-652,686 | Down ×6 | ||
| LEN Lennar Corporation Class A Common Stock | $3,746,399 | 0.35% | 41,401 | $121,772 | Down ×2 | ||
| BRKA | $3,744,250 | 0.35% | 5 | $2,307,970 | Up ×1 | ||
| FNDX | $3,488,703 | 0.33% | 112,177 | $1,373,664 | Up ×2 | ||
| NOBL | $3,450,208 | 0.32% | 61,435 | $70,345 | Up ×1 | ||
| AMZN Amazon.com, Inc. - Common Stock | $3,447,361 | 0.32% | 14,464 | $435,142 | Up ×3 | ||
| VT | $3,430,692 | 0.32% | 21,859 | $646,437 | Up ×6 | ||
| FNDC | $3,214,889 | 0.30% | 66,204 | $466,343 | Up ×3 | ||
| VNQ | $3,213,232 | 0.30% | 33,322 | $635,771 | Up ×4 | ||
| FNDA | $3,097,859 | 0.29% | 81,394 | $665,490 | Up ×5 | ||
| SPGI S&P Global Inc. Common Stock | $3,091,104 | 0.29% | 7,590 | $-137,227 | |||
| FNDF | $3,061,577 | 0.29% | 58,028 | $492,996 | Up ×5 | ||
| BRKB | $3,012,849 | 0.28% | 6,021 | $296,264 | Up ×5 | ||
| COST Costco Wholesale Corporation - Common Stock | $2,746,480 | 0.26% | 2,936 | $-196,460 | Down ×1 | ||
| GOOG Alphabet Inc. - Class C Capital Stock | $2,634,909 | 0.25% | 7,457 | $346,523 | Down ×1 | ||
| AVO Mission Produce, Inc. - Common Stock | $2,496,533 | 0.24% | 211,750 | $-417,147 | |||
| SCHX | $2,120,103 | 0.20% | 72,039 | $273,281 | Up ×3 | ||
| VIG | $1,988,167 | 0.19% | 8,402 | $180,508 | Down ×2 | ||
| BNDX Vanguard Total International Bond ETF | $1,972,279 | 0.19% | 40,724 | $45,660 | Up ×6 | ||
| VCSH Vanguard Short-Term Corporate Bond ETF | $1,770,301 | 0.17% | 22,400 | $11,826 | Up ×1 | ||
| NVDA NVIDIA Corporation - Common Stock | $1,632,237 | 0.15% | 8,158 | $172,605 | Down ×2 | ||
| SBUX Starbucks Corporation - Common Stock | $1,630,158 | 0.15% | 15,952 | $897,920 | Up ×1 | ||
| FNDE | $1,535,471 | 0.14% | 38,696 | $74,654 | Up ×3 | ||
| GOOGL Alphabet Inc. - Class A Common Stock | $1,408,089 | 0.13% | 3,940 | $289,820 | Up ×2 | ||
| DFAX | $1,390,864 | 0.13% | 37,754 | Up ×1 | |||
| SPY SPY | $1,376,431 | 0.13% | 1,839 | $-114,910 | Down ×2 | ||
| QQQ Invesco QQQ Trust, Series 1 | $1,364,616 | 0.13% | 1,851 | $302,182 | Up ×4 | ||
| VGT | $1,320,330 | 0.12% | 11,047 | $336,609 | Up ×1 | ||
| TSLA Tesla, Inc. - Common Stock | $1,283,251 | 0.12% | 3,051 | $147,554 | Down ×1 | ||
| VTEB | $1,069,464 | 0.10% | 21,144 | $14,589 | |||
| IBRX ImmunityBio, Inc. - Common Stock | $977,916 | 0.09% | 111,698 | $210,916 | Up ×1 | ||
| SCHZ | $899,749 | 0.08% | 38,900 | $-3,417 | Up ×3 | ||
| GLD | $732,340 | 0.07% | 1,988 | $-83,060 | Up ×1 | ||
| VYM | $705,465 | 0.07% | 4,464 | $64,340 | Up ×2 | ||
| WFC Wells Fargo & Company Common Stock | $681,037 | 0.06% | 8,241 | $10,959 | Down ×1 | ||
| LOW Lowe's Companies, Inc. Common Stock | $667,534 | 0.06% | 3,028 | $-47,805 | |||
| IJH | $652,197 | 0.06% | 8,458 | $131,675 | Up ×1 | ||
| AVGO Broadcom Inc. - Common Stock | $650,864 | 0.06% | 1,723 | $94,510 | Down ×1 | ||
| CMI Cummins Inc. Common Stock | $649,635 | 0.06% | 911 | $159,785 | Up ×1 | ||
| SCZ iShares MSCI EAFE Small-Cap ETF | $643,270 | 0.06% | 7,819 | $11,520 | Down ×4 | ||
| COR Cencora, Inc. Common Stock | $638,403 | 0.06% | 2,256 | $-131,555 | Down ×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 |
|---|---|---|---|
| IGSB | $46,211,259 | 4.35% | up ×6 |
| JIRE | $39,627,334 | 3.73% | up ×5 |
| IJR | $30,892,958 | 2.91% | up ×6 |
| SPAB | $29,622,700 | 2.79% | up ×5 |
| GOVT | $26,191,570 | 2.47% | up ×5 |
| SPYM | $13,829,051 | 1.30% | up ×5 |
| IVV | $10,659,809 | 1.00% | up ×3 |
| VSS | $9,871,109 | 0.93% | up ×5 |
| REET | $9,503,636 | 0.89% | up ×5 |
| CSCO | $9,022,808 | 0.85% | up ×4 |
| SCHA | $7,912,293 | 0.74% | up ×3 |
| VEA | $7,663,211 | 0.72% | up ×5 |
| VWO | $4,855,010 | 0.46% | up ×3 |
| BND | $4,236,733 | 0.40% | up ×6 |
| AMZN | $3,447,361 | 0.32% | up ×3 |
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| Unknown issuer (CUSIP: 26614N201) | $4,154,608 | 30,630 | 0.39% |
| DFAX | $1,390,864 | 37,754 | 0.13% |
| DFAI | $423,971 | 10,278 | 0.04% |
| DUHP | $293,488 | 7,033 | 0.03% |
| AMD | $289,875 | 499 | 0.03% |
| GLW | $283,528 | 1,110 | 0.03% |
| IJT | $267,770 | 1,499 | 0.03% |
| DFUS | $235,250 | 2,871 | 0.02% |
| EAGG | $228,943 | 4,829 | 0.02% |
| PM | $224,693 | 1,232 | 0.02% |
| DFSI | $218,647 | 4,848 | 0.02% |
| IWM | $208,212 | 693 | 0.02% |
| TQQQ | $205,819 | 2,541 | 0.02% |
| LLY | $201,505 | 168 | 0.02% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| IUSG | Bought more | +1K | +$6.4M |
| VO | Bought more | +493K | +$6.4M |
| CAT | Trimmed | -7K | +$6.1M |
| TXN | Bought more | +193 | +$5.9M |
| IJR | Bought more | +3K | +$5.4M |
| VUG | Bought more | +297K | +$4.9M |
| CVS | Bought more | +387 | +$4.8M |
| SPEM | Bought more | +7K | +$4.3M |
| JIRE | Bought more | +13K | +$4.2M |
| XOM | Bought more | +441 | -$3.9M |
2 positions hidden (data completeness check)
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 |
|---|---|---|---|---|
| DD | June 30, 2026 | 88,565 | $4,056,281 | 3.3% |
| CMCSA | Sept. 30, 2025 | 107,683 | $3,843,223 | -15.8% |
| WAT | June 30, 2026 | 2,073 | $617,340 | 6.1% |
| SO | March 31, 2025 | 5,627 | $463,215 | -0.9% |
| IAGG | Sept. 30, 2025 | 7,693 | $393,036 | No longer tracked |
| PM | Dec. 31, 2025 | 1,909 | $309,640 | 18.3% |
| ORCL | Dec. 31, 2025 | 1,083 | $304,583 | -24.9% |
| MP | Sept. 30, 2025 | 8,635 | $287,287 | -14.3% |
| AEP | March 31, 2026 | 2,406 | $277,436 | -5.8% |
| VMBS | March 31, 2025 | 5,412 | $245,381 | |
| IBIT | March 31, 2026 | 4,942 | $245,371 | |
| AVGO | March 31, 2025 | 1,030 | $238,796 | 122.6% |
| PFF | March 31, 2025 | 7,504 | $235,919 | |
| COP | June 30, 2026 | 1,743 | $230,133 | 30.3% |
| TQQQ | March 31, 2026 | 3,919 | $206,636 | |
| IDR | March 31, 2026 | 5,000 | $201,500 | No longer tracked |
| RVPH | March 31, 2026 | 33,500 | $9,347 | No longer tracked |