Cutler Capital Management, LLC
CIK 0001353098
Annualised vol
2.194472%
Beta
0.054731
HHI
185.460687
Top-10 weight
30.769451%
VaR 95%
0.195775%
VaR 99%
0.441343%
Max drawdown
3.928435%
Matched value
25.135448%
Returns of reported holdings
Loading returns…
Position changes vs prior quarter
What the latest 13F shows bought and sold against the quarter before, by share count.
| Ticker | Change | Shares now | Shares before | Share change % | Value now ($) |
|---|---|---|---|---|---|
| AEM | NEW | 116,334 | - | - | 18,046,817 |
| TSBK | NEW | 285,258 | - | - | 12,782,426 |
| BMBN | NEW | 179,382 | - | - | 7,442,559 |
| VTRS | REDUCED | 448,363 | 456,272 | -1.73% | 7,120,011 |
| MRK | REDUCED | 55,048 | 58,396 | -5.73% | 7,075,656 |
| XRN | NEW | 180,161 | - | - | 6,760,309 |
| CPKF | NEW | 178,850 | - | - | 6,438,600 |
| VZ | NEW | 145,238 | - | - | 6,149,356 |
| PFE | REDUCED | 245,185 | 248,771 | -1.44% | 5,904,050 |
| PTBS | NEW | 231,048 | - | - | 5,527,823 |
| APLE | NEW | 300,869 | - | - | 5,057,741 |
| CWBC | NEW | 162,139 | - | - | 4,355,057 |
| CSBB | REDUCED | 58,284 | 66,563 | -12.44% | 4,196,448 |
| NOG | NEW | 223,884 | - | - | 4,063,952 |
| BBT | ADDED | 97,306 | 77,238 | 25.98% | 2,962,955 |
| ABCB | REDUCED | 30,759 | 31,859 | -3.45% | 2,776,311 |
| LXP | REDUCED | 49,487 | 54,115 | -8.55% | 2,666,336 |
| HCI | REDUCED | 14,662 | 15,104 | -2.93% | 2,569,547 |
| AIG | UNCHANGED | 33,000 | 33,000 | 0.0% | 2,459,490 |
| FISI | NEW | 49,428 | - | - | 1,926,191 |
| BANC | NEW | 80,550 | - | - | 1,645,637 |
| TSN | REDUCED | 26,340 | 27,007 | -2.47% | 1,507,946 |
| HWC | UNCHANGED | 10,898 | 10,898 | 0.0% | 814,304 |
| AGI | ADDED | 25,897 | 10,822 | 139.3% | 785,703 |
| IFF | NEW | 8,602 | - | - | 683,319 |
| MSFT | REDUCED | 1,671 | 10,646 | -84.3% | 623,208 |
| ORCL | UNCHANGED | 3,000 | 3,000 | 0.0% | 439,650 |
| JPM | ADDED | 1,198 | 1,188 | 0.84% | 392,141 |
| SKE | NEW | 11,880 | - | - | 316,721 |
| ES | NEW | 4,147 | - | - | 299,704 |
| AMZN | UNCHANGED | 1,005 | 1,005 | 0.0% | 239,532 |
| AAPL | REDUCED | 787 | 17,500 | -95.5% | 227,726 |
| TSM | NEW | 461 | - | - | 220,301 |
| DUK | NEW | 1,183 | - | - | 149,744 |
| TEX | NEW | 1,485 | - | - | 107,499 |
| INVA | CLOSED OUT | 0 | 6,320,000 | -100.0% | 0 |
| FWONA | CLOSED OUT | 0 | 2,300,000 | -100.0% | 0 |
| HAE | CLOSED OUT | 0 | 1,750,000 | -100.0% | 0 |
| CAKE | CLOSED OUT | 0 | 1,500,000 | -100.0% | 0 |
| SBFG | CLOSED OUT | 0 | 390,137 | -100.0% | 0 |
| ET | CLOSED OUT | 0 | 377,198 | -100.0% | 0 |
| SFL | CLOSED OUT | 0 | 330,892 | -100.0% | 0 |
| PKBK | CLOSED OUT | 0 | 317,426 | -100.0% | 0 |
| MET | CLOSED OUT | 0 | 175,759 | -100.0% | 0 |
| WY | CLOSED OUT | 0 | 174,110 | -100.0% | 0 |
| FMBM | CLOSED OUT | 0 | 135,864 | -100.0% | 0 |
| SHEL | CLOSED OUT | 0 | 110,701 | -100.0% | 0 |
| KIM | CLOSED OUT | 0 | 89,943 | -100.0% | 0 |
| T | CLOSED OUT | 0 | 62,256 | -100.0% | 0 |
| EGBN | CLOSED OUT | 0 | 9,000 | -100.0% | 0 |
| KR | CLOSED OUT | 0 | 4,955 | -100.0% | 0 |
| ALB | CLOSED OUT | 0 | 4,675 | -100.0% | 0 |
| MTB | CLOSED OUT | 0 | 3,238 | -100.0% | 0 |
| SLV | CLOSED OUT | 0 | 2,038 | -100.0% | 0 |
| ABBV | CLOSED OUT | 0 | 1,915 | -100.0% | 0 |
| GOOGL | CLOSED OUT | 0 | 1,522 | -100.0% | 0 |
| SPY | CLOSED OUT | 0 | 481 | -100.0% | 0 |
| GLD | CLOSED OUT | 0 | 456 | -100.0% | 0 |
Holdings (latest quarter)
| Ticker | Change | Issuer | Class | CUSIP | Value ($) | Weight % | Shares |
|---|---|---|---|---|---|---|---|
| AEM | NEW | AGNICO EAGLE MINES LTD COM | COM | 008474108 | 18,046,817 | 4.69 | 116334.0 |
| - | METLIFE INC COM USD0.01 | COM | 59156R108 | 14,513,569 | 3.77 | 171535.0 | |
| - | CTO RLTY GROWTH INC NEW COM | COM | 22948Q101 | 14,008,897 | 3.64 | 651274.0 | |
| TSBK | NEW | TIMBERLAND BANCORP INC | COM | 887098101 | 12,782,426 | 3.32 | 285258.0 |
| - | EXCHANGE BK SANTA ROSA CALIF COM | COM | 301227203 | 12,364,110 | 3.21 | 74934.0 | |
| - | PARKE BANCORP INC COM STK USD0.10 | COM | 700885106 | 10,416,421 | 2.71 | 314126.0 | |
| - | SB FINL GROUP INC COM | COM | 78408D105 | 9,801,014 | 2.55 | 387852.0 | |
| - | FIRST BUSINESS FINL SVCS INC W COM | COM | 319390100 | 9,750,014 | 2.53 | 154346.0 | |
| - | SHELL PLC SPON ADS EA REP 2 ORD SHS | SPON ADS | 780259305 | 8,479,846 | 2.2 | 109361.0 | |
| - | BUNGE GLOBAL SA COM USD0.01 | COM | H11356104 | 8,302,710 | 2.16 | 77792.0 | |
| - | LIBERTY MEDIA CORP DEL BOND | NOTE 3.750% 3/1 | 531229AP7 | 8,067,906 | 2.1 | 7033000.0 | |
| - | FIDELITY MSCI ENERGY INDEX ETF | MSCI ENERGY IDX | 316092402 | 7,908,692 | 2.05 | 267547.0 | |
| BMBN | NEW | BENCHMARK BANKSHARES INC | COM | 08160E207 | 7,442,559 | 1.93 | 179382.0 |
| VTRS | REDUCED | VIATRIS INC COM | COM | 92556V106 | 7,120,011 | 1.85 | 448363.0 |
| - | PROGRESS SOFTWARE CORP BOND | NOTE 3.500% 3/0 | 743312AD2 | 7,085,193 | 1.84 | 7390000.0 | |
| MRK | REDUCED | MERCK&CO. INC COM | COM | 58933Y105 | 7,075,656 | 1.84 | 55048.0 |
| - | PPL CAPITAL FUNDING INC BOND | NOTE 2.875% 3/1 | 69352PAS2 | 6,893,175 | 1.79 | 6065000.0 | |
| XRN | NEW | CHIRON REAL ESTATE INC COMMON STOCK | COM NEW | 37954A303 | 6,760,309 | 1.76 | 180161.0 |
| - | INNOVIVA INC BOND | NOTE 2.125% 3/1 | 45781MAD3 | 6,642,860 | 1.73 | 6195000.0 | |
| - | ENERGY TRANSFER L P COM UT LTD PTN | COM UT LTD PTN | 29273V100 | 6,614,764 | 1.72 | 345960.0 | |
| - | BANK OF BOTETOURT | COM | 063907208 | 6,521,261 | 1.69 | 122465.0 | |
| CPKF | NEW | CHESAPEAKE FINANCIAL SHARES | COM | 16517A109 | 6,438,600 | 1.67 | 178850.0 |
| - | BANK AMERICA CORP CNV PFD L | 7.25%CNV PFD L | 060505682 | 6,153,323 | 1.6 | 4905.0 | |
| VZ | NEW | VERIZON COMMUNICATIONS INC | COM | 92343V104 | 6,149,356 | 1.6 | 145238.0 |
| - | LEDYARD FINANCIAL GROUP INC COM USD1.00 | COM | 523338101 | 6,119,890 | 1.59 | 343621.0 | |
| - | FIRST NATL CORP COM | COM | 32106V107 | 6,118,357 | 1.59 | 203809.0 | |
| PFE | REDUCED | PFIZER INC | COM | 717081103 | 5,904,050 | 1.53 | 245185.0 |
| PTBS | NEW | POTOMAC BANCSHARES INC COM | COM | 737643106 | 5,527,823 | 1.44 | 231048.0 |
| - | KIMCO REALTY CORP PFD | DP CV CL N 7.25% | 49446R687 | 5,476,428 | 1.42 | 87693.0 | |
| - | VICI PPTYS INC COM | COM | 925652109 | 5,343,892 | 1.39 | 201181.0 | |
| - | MERCHANTS FINL GROUP INC COM | COM | 588538108 | 5,233,502 | 1.36 | 132830.0 | |
| APLE | NEW | APPLE HOSPITALITY REIT INC COM NEW | COM | 03784Y200 | 5,057,741 | 1.31 | 300869.0 |
| - | NORTHERN OIL&GAS INC BOND | NOTE 3.625% 4/1 | 665531AJ8 | 5,040,334 | 1.31 | 5265000.0 | |
| - | F&M BK CORP CAP STK | COM | 30237P106 | 4,890,850 | 1.27 | 134364.0 | |
| - | WEYERHAEUSER CO MTN BE COM NEW | COM NEW | 962166104 | 4,546,288 | 1.18 | 189903.0 | |
| CWBC | NEW | COMMUNITY WEST BANCSHARES NEW COM | COM | 203937107 | 4,355,057 | 1.13 | 162139.0 |
| CSBB | REDUCED | CSB BANCORP | COM | 12628R107 | 4,196,448 | 1.09 | 58284.0 |
| - | ALERUS FINL CORP COM | COM | 01446U103 | 4,179,840 | 1.09 | 134400.0 | |
| NOG | NEW | NORTHERN OIL&GAS INC COM | COM | 665531307 | 4,063,952 | 1.06 | 223884.0 |
| - | FSBH CORP COM | COM | 30325F101 | 3,912,000 | 1.02 | 240000.0 | |
| - | VANECK ETF TRUST MRNGSTR WDE MOAT | MRNGSTR WDE MOAT | 92189F643 | 3,899,315 | 1.01 | 37508.0 | |
| - | ENERGIZER HLDGS INC NEW COM | COM | 29272W109 | 3,403,241 | 0.88 | 158733.0 | |
| - | SFL CORPORATION LTD COM USD0.01 | SHS | G7738W106 | 3,286,871 | 0.85 | 322242.0 | |
| BBT | ADDED | BEACON FINANCIAL CORP. COM | COM | 084680107 | 2,962,955 | 0.77 | 97306.0 |
| ABCB | REDUCED | AMERIS BANCORP | COM | 03076K108 | 2,776,311 | 0.72 | 30759.0 |
| - | LIBERTY MEDIA CORP DEL BOND | NOTE 2.250% 8/1 | 531229AQ5 | 2,756,043 | 0.72 | 2220000.0 | |
| LXP | REDUCED | LXP INDUSTRIAL TRUST COM | COM | 529043408 | 2,666,336 | 0.69 | 49487.0 |
| HCI | REDUCED | HCI GROUP INC | COM | 40416E103 | 2,569,547 | 0.67 | 14662.0 |
| - | ALBERTSONS COS INC COMMON STOCK | COM | 013091103 | 2,505,580 | 0.65 | 185187.0 | |
| - | FIRST COMMUNITY CORP | COM | 319835104 | 2,500,020 | 0.65 | 76500.0 | |
| AIG | UNCHANGED | AMERICAN INTERNATIONAL GROUP | COM NEW | 026874784 | 2,459,490 | 0.64 | 33000.0 |
| - | VANGUARD INDEX FUNDS S&P 500 ETF USD | S&P 500 ETF SHS | 922908363 | 2,377,454 | 0.62 | 3462.0 | |
| - | SLB LIMITED TRADING | COM STK | 806857108 | 2,374,580 | 0.62 | 51074.0 | |
| - | FLAGSTAR BANK | UNIT 05/07/2051 | 64944P307 | 2,210,204 | 0.57 | 53868.0 | |
| - | WINNEBAGO INDS INC BOND | NOTE 3.250% 1/1 | 974637AF7 | 2,149,749 | 0.56 | 2310000.0 | |
| - | SPECTRUM BRANDS INC BOND | NOTE 3.375% 6/0 | 84762LAZ8 | 2,044,261 | 0.53 | 1965000.0 | |
| - | AT&T INC COM USD1 | COM | 00206R102 | 2,035,180 | 0.53 | 98318.0 | |
| FISI | NEW | FINANCIAL INSTITUTIONS INC | COM | 317585404 | 1,926,191 | 0.5 | 49428.0 |
| - | CNH INDUSTRIAL NV COM EUR0.01 | SHS | N20944109 | 1,922,950 | 0.5 | 171233.0 | |
| - | PEOPLES FINANCIAL SERVICES GROUP COM USD2 | COM | 711040105 | 1,907,893 | 0.5 | 28746.0 | |
| - | ALPHABET INC DEP SHS RP1/20 B PFD | DEP SHS RP1/20 B | 02079K602 | 1,900,083 | 0.49 | 37775.0 | |
| - | CHEESECAKE FACTORY INC BOND | NOTE 2.000% 3/1 | 163072AC5 | 1,853,675 | 0.48 | 1455000.0 | |
| - | VANECK ETF TR VANECK GOLD MINERS ETF | GOLD MINERS ETF | 92189F106 | 1,746,069 | 0.45 | 23142.0 | |
| - | HAEMONETICS CORP MASS BOND | NOTE 2.500% 6/0 | 405024AD2 | 1,744,194 | 0.45 | 1725000.0 | |
| - | ETSY INC BOND | NOTE 0.125% 9/0 | 29786AAL0 | 1,708,286 | 0.44 | 1805000.0 | |
| BANC | NEW | BANC OF CALIFORNIA INC COM | COM | 05990K106 | 1,645,637 | 0.43 | 80550.0 |
| - | WEC ENERGY GROUP INC BOND | NOTE 3.375% 6/0 | 92939UAT3 | 1,557,788 | 0.4 | 1500000.0 | |
| - | GUIDEWIRE SOFTWARE INC BOND | NOTE 1.250%11/0 | 40171VAC4 | 1,531,958 | 0.4 | 1595000.0 | |
| TSN | REDUCED | TYSON FOODS INC | CL A | 902494103 | 1,507,946 | 0.39 | 26340.0 |
| - | VISHAY INTERTECHNOLOGY INC BOND | NOTE 2.250% 9/1 | 928298AR9 | 1,459,408 | 0.38 | 735000.0 | |
| - | PACIRA BIOSCIENCES INC BOND | NOTE 2.125% 5/1 | 695127AJ9 | 1,431,091 | 0.37 | 1435000.0 | |
| - | SOLVAY BK CORP SOLVAY NEW YORK COM | COM | 83441Q105 | 1,222,459 | 0.32 | 37591.0 | |
| - | ISHARES TRUST US | US REGNL BKS ETF | 464288778 | 1,119,780 | 0.29 | 18000.0 | |
| - | CITIZENS BANCORP VA INC COM | COM | 17316V104 | 1,096,786 | 0.28 | 28525.0 | |
| - | VANGUARD INTL EQUITY INDEX FDS TT WRLD ST | TT WRLD ST ETF | 922042742 | 962,888 | 0.25 | 6135.0 | |
| - | WESTERN AST INFL LKD OPP&INM COM | COM | 95766R104 | 940,731 | 0.24 | 111992.0 | |
| - | INVESCO TR INVT GRADE MUNS COM STK USD0.01 | COM | 46131M106 | 912,843 | 0.24 | 86117.0 | |
| HWC | UNCHANGED | HANCOCK WHITNEY CORP | COM | 410120109 | 814,304 | 0.21 | 10898.0 |
| AGI | ADDED | ALAMOS GOLD INC COM | COM CLA | 011532108 | 785,703 | 0.2 | 25897.0 |
| - | AMPHASTAR PHARMACEUTICALS INC BOND | NOTE 2.000% 3/1 | 03209RAB9 | 758,229 | 0.2 | 835000.0 | |
| - | M&T BANK CORP COM USD0.50 | COM | 55261F104 | 756,711 | 0.2 | 3179.0 | |
| IFF | NEW | INTERNATIONAL FLAVORS&FRAGRANCES COM | COM | 459506101 | 683,319 | 0.18 | 8602.0 |
| - | FIRST TRUST NASDAQ ABA CBIF | UT COM SHS ETF | 33736Q104 | 664,002 | 0.17 | 9868.0 | |
| MSFT | REDUCED | MICROSOFT CORP | COM | 594918104 | 623,208 | 0.16 | 1671.0 |
| - | BERKSHIRE HATHAWAY INC COM USD0.0033 CLASS | CL B NEW | 084670702 | 600,468 | 0.16 | 1200.0 | |
| - | SOUTHSTATE BK CORP COM | COM | 84472E102 | 588,406 | 0.15 | 5890.0 | |
| - | ISHARES CORE S&P US VALUE ETF | CORE S&P US VLU | 464287663 | 501,183 | 0.13 | 4550.0 | |
| ORCL | UNCHANGED | ORACLE CORP | COM | 68389X105 | 439,650 | 0.11 | 3000.0 |
| - | ABBVIE INC COM USD0.01 | COM | 00287Y109 | 409,922 | 0.11 | 1629.0 | |
| JPM | ADDED | JPMORGAN CHASE&CO. COM | COM | 46625H100 | 392,141 | 0.1 | 1198.0 |
| - | SEACOAST BANKING CORPORATION OF FLORIDA | COM NEW | 811707801 | 359,974 | 0.09 | 10826.0 | |
| - | STATE STREET SPDR S&P 500 ETF UNITS | TR UNIT | 78462F103 | 334,307 | 0.09 | 448.0 | |
| SKE | NEW | SKEENA RESOURCES LIMITED COM | COM | 83056P715 | 316,721 | 0.08 | 11880.0 |
| - | SPDR GOLD TR GOLD SHS | GOLD SHS | 78463V107 | 310,176 | 0.08 | 842.0 | |
| - | FIDELITY FUNDAMENTAL SMALL-MID CAP ETF | FUN SMA MID ETF | 316092295 | 300,331 | 0.08 | 7860.0 | |
| ES | NEW | EVERSOURCE ENERGY | COM | 30040W108 | 299,704 | 0.08 | 4147.0 |
| - | KROGER CO COM USD1.00 | COM | 501044101 | 277,907 | 0.07 | 5005.0 | |
| - | FRANKLIN FINANCIAL SERVICES CORPORATION | COM | 353525108 | 275,440 | 0.07 | 4400.0 | |
| - | ALBEMARLE CORP DEP SHS A PFD | 7.25% DEP SHS A | 012653200 | 258,761 | 0.07 | 4675.0 | |
| - | STARWOOD PPTY TR INC BOND | NOTE 6.750% 7/1 | 85571BBA2 | 249,768 | 0.06 | 245000.0 | |
| AMZN | UNCHANGED | AMAZON.COM INC | COM | 023135106 | 239,532 | 0.06 | 1005.0 |
| AAPL | REDUCED | APPLE INC | COM | 037833100 | 227,726 | 0.06 | 787.0 |
| TSM | NEW | TAIWAN SEMICONDUCTOR MANUFACTURING | SPONSORED ADS | 874039100 | 220,301 | 0.06 | 461.0 |
| - | EAGLE BANCORP MONTANA INC COM USD0.01 | COM | 26942G100 | 215,370 | 0.06 | 9000.0 | |
| - | SWISS HELVETIA FUND INC | COM | 870875101 | 213,371 | 0.06 | 35921.0 | |
| - | ALPHABET INC CAP STK CL A | CAP STK CL A | 02079K305 | 196,196 | 0.05 | 549.0 | |
| - | EXXON MOBIL CORP COM | COM | 30231G102 | 178,966 | 0.05 | 1309.0 | |
| - | INTERNATIONAL BUS MACH CORP COM USD0.20 | COM | 459200101 | 172,382 | 0.04 | 613.0 | |
| - | INVESCO QQQ TR UNIT SER 1 | UNIT SER 1 | 46090E103 | 168,113 | 0.04 | 228.0 | |
| - | HECLA MINING CO | COM | 422704106 | 154,300 | 0.04 | 10000.0 | |
| DUK | NEW | DUKE ENERGY CORP NEW COM NEW | COM | 26441C204 | 149,744 | 0.04 | 1183.0 |
| - | GREENBRIER COS INC BOND | NOTE 2.875% 4/1 | 393657AM3 | 133,544 | 0.03 | 117000.0 | |
| - | JAMES HARDIE INDUSTRIES PLC COM EUR0.59 | ORD SHS | G4253H101 | 132,864 | 0.03 | 5075.0 | |
| - | HALOZYME THERAPEUTICS INC BOND | NOTE 0.250% 3/0 | 40637HAD1 | 122,221 | 0.03 | 110000.0 | |
| - | CHENIERE ENERGY INC COM USD0.003 | COM NEW | 16411R208 | 120,700 | 0.03 | 505.0 | |
| - | DEVON ENERGY CORP NEW | COM | 25179M103 | 115,076 | 0.03 | 2785.0 | |
| - | SELECT SECTOR SPDR TRUST STATE STREET | ST STR TECHN ETF | 81369Y803 | 114,312 | 0.03 | 600.0 | |
| - | OCCIDENTAL PETE CORP COM | COM | 674599105 | 112,925 | 0.03 | 2325.0 | |
| - | ISHARES RUSSELL MID-CAP VALUE ETF | RUS MDCP VAL ETF | 464287473 | 112,586 | 0.03 | 684.0 | |
| - | ISHARES SILVER TR ISHARES | ISHARES | 46428Q109 | 108,972 | 0.03 | 2038.0 | |
| TEX | NEW | TEREX CORP | COM | 880779103 | 107,499 | 0.03 | 1485.0 |
| - | AGCO CORP COM USD0.01 | COM | 001084102 | 105,935 | 0.03 | 885.0 | |
| - | LOWES COMPANIES INC COM USD0.50 | COM | 548661107 | 105,615 | 0.03 | 479.0 | |
| - | INVESCO EXCHANGE TRADED FD TR S&P500 EQL | S&P500 EQL WGT | 46137V357 | 100,853 | 0.03 | 474.0 |
Quarterly portfolios
| Period | Filed | Value ($) | Positions | Vol % | Beta | Max DD % |
|---|---|---|---|---|---|---|
| 2026-06-30 | 2026-08-14 | 385,011,172 | 124 | 2.194472 | 0.054731 | 3.928435 |
| 2026-03-31 | 2026-05-15 | 369,859,771 | 116 | 3.26187 | 0.125004 | 7.084196 |
| 2025-12-31 | 2026-02-13 | 343,106,096 | 122 | 3.709336 | 0.145593 | 8.320313 |
| 2025-09-30 | 2025-11-14 | 313,771,218 | 124 | 3.661926 | 0.131168 | 8.67736 |
| 2025-03-31 | 2025-05-14 | 287,504,950 | 117 | 3.991 | 0.140553 | 9.635326 |
| 2024-12-31 | 2025-02-13 | 287,198,038 | 117 | 4.054664 | 0.142037 | 9.565582 |