Cutler Capital Management, LLC
Sector Allocation
- Financials26.3%$101.3M
- Other26.3%$101.2M
- Real Estate11.5%$44.1M
- Healthcare7.9%$30.5M
- Energy7.0%$27.1M
- Materials5.3%$20.4M
- Technology4.5%$17.4M
- Consumer Staples3.3%$12.6M
- Communication Services2.8%$10.9M
- Industrials2.7%$10.2M
AUM History
13fpro.ai/research/fund/cutler-capital-management-llc-1353098
Conviction and streaks
Diversifying · top 10 = 30.8%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
AEM
$18.0MMET
$14.5MCTO
$14.0MTSBK
$12.8M- EXCHANGE$12.4M
PKBK
$10.4MSBFG
$9.8MFBIZ
$9.8MSHEL
$8.5MBG
$8.3M- LIBERTY$8.1M
- FIDELITY$7.9M
- BENCHMARK$7.4M
VTRS
$7.1MPRGS
$7.1MMRK
$7.1MPPL
$6.9MXRN
$6.8MINVA
$6.6MET
$6.6M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/cutler-capital-management-llc-1353098
Cutler Capital Management, LLC 13F holdings — Q2 2026
$385.0M portfolio (+4.1% QoQ) · 124 holdings · Q2 2026 13F · top 10 are 31% of the stock portfolio
$18.0M
4.7% of stocks
-2%This quarter-5.8%Since filed6+ qtrsHeld$14.5M
3.8% of stocks
-2%This quarter+2.4%Since filed6+ qtrsHeld$14.0M
3.6% of stocks
-1%This quarter-10.7%Since filed6+ qtrsHeld$12.8M
3.3% of stocks
-2%This quarter+1.9%Since filed6+ qtrsHeld- 5
EXCHANGE BK SANTA ROSA CALIF COM - COM
$12.4M
3.2% of stocks
-1%This quarter—Since filed—HeldAIQuality—Est. buy— $10.4M
2.7% of stocks
-1%This quarter-5.9%Since filed6+ qtrsHeld$9.8M
2.5% of stocks
-0.6%This quarter+11.6%Since filed6+ qtrsHeld$9.8M
2.5% of stocks
-0.2%This quarter+1.9%Since filed6+ qtrsHeld$8.5M
2.2% of stocks
-1%This quarter+18.2%Since filed6+ qtrsHeld$8.3M
2.2% of stocks
-2%This quarter-10.1%Since filed6+ qtrsHeld
All holdings — Cutler Capital Management, LLC (Q2 2026)
124 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | — | LIBERTY MEDIA CORP DEL BOND - NOTE 3.750% 3/1note | — | $8.1M | 2.1% | 7.03M | -3% | — | — | 13F |
| 12 | — | FIDELITY MSCI ENERGY INDEX ETF - MSCI ENERGY IDXetf/fund | — | $7.9M | 2.0% | 268K | +0.1% | — | — | 13F |
| 13 | — | BENCHMARK BANKSHARES INC - COM | — | $7.4M | 1.9% | 179K | +4% | — | — | 13F |
| 14 | Viatris Inc | Healthcare | $7.1M | 1.9% | 448K | -2% | 6+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | PROGRESS SOFTWARE CORP /MAnote | Technology | $7.1M | 1.8% | 7.39M | -2% | 6+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | Merck & Co., Inc. | Healthcare | $7.1M | 1.8% | 55K | -6% | 6+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | PPL Corpnote | Utilities | $6.9M | 1.8% | 6.07M | -2% | 6+ qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | Chiron Real Estate Inc. | Real Estate | $6.8M | 1.8% | 180K | +5% | 4 qtrsAdded 4 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | Innoviva, Inc.note | Healthcare | $6.6M | 1.7% | 6.20M | -2% | 6+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | Energy Transfer LP | Energy | $6.6M | 1.7% | 346K | -8% | 6+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | — | BANK OF BOTETOURT - COM | — | $6.5M | 1.7% | 122K | — | — | — | 13F |
| 22 | — | CHESAPEAKE FINANCIAL SHARES - COM | — | $6.4M | 1.7% | 179K | +0.2% | — | — | 13F |
| 23 | BANK OF AMERICA CORP /DE/preferred | Financials | $6.2M | 1.6% | 4,905 | +46% | 2 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | VERIZON COMMUNICATIONS INC | Communication Services | $6.1M | 1.6% | 145K | +3% | 6+ qtrsAdded 4 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | — | LEDYARD FINANCIAL GROUP INC COM USD1.00 - COMnote | — | $6.1M | 1.6% | 344K | +2% | — | — | 13F |
| 26 | $FXNC | FIRST NATIONAL CORP /VA/ | Financials | $6.1M | 1.6% | 204K | -0.1% | |||
| 27 | $PFE | PFIZER INC | Healthcare | $5.9M | 1.5% | 245K | -1% | |||
| 28 | — | POTOMAC BANCSHARES INC COM - COM | — | $5.5M | 1.4% | 231K | +0.0% | |||
| 29 | $KIM | KIMCO REALTY CORP | Real Estate | $5.5M | 1.4% | 88K | -3% | |||
| 30 | $VICI | VICI PROPERTIES INC. | Real Estate | $5.3M | 1.4% | 201K | -0.7% | |||
| 31 | — | MERCHANTS FINL GROUP INC COM - COM | — | $5.2M | 1.4% | 133K | +5% | |||
| 32 | $APLE | Apple Hospitality REIT, Inc. | Real Estate | $5.1M | 1.3% | 301K | +0.1% | |||
| 33 | $NOG | NORTHERN OIL & GAS, INC. | Energy | $5.0M | 1.3% | 5.26M | +33% | |||
| 34 | — | F&M BK CORP CAP STK - COM | — | $4.9M | 1.3% | 134K | -1% | |||
| 35 | $WY | WEYERHAEUSER CO | Real Estate | $4.5M | 1.2% | 190K | +9% | |||
| 36 | $CWBC | Community West Bancshares | Financials | $4.4M | 1.1% | 162K | -0.3% | |||
| 37 | — | CSB BANCORP - COM | — | $4.2M | 1.1% | 58K | -12% | |||
| 38 | $ALRS | ALERUS FINANCIAL CORP | Financials | $4.2M | 1.1% | 134K | -2% | |||
| 39 | $NOG | NORTHERN OIL & GAS, INC. | Energy | $4.1M | 1.1% | 224K | +204% | |||
| 40 | — | FSBH CORP COM - COM | — | $3.9M | 1.0% | 240K | — | |||
| 41 | — | VANECK ETF TRUST MRNGSTR WDE MOAT - MRNGSTR WDE MOAT | — | $3.9M | 1.0% | 38K | +2% | |||
| 42 | $ENR | ENERGIZER HOLDINGS, INC. | Technology | $3.4M | 0.9% | 159K | +6% | |||
| 43 | $SFL | SFL Corp Ltd. | Industrials | $3.3M | 0.8% | 322K | -3% | |||
| 44 | $BBT | Beacon Financial Corp | Financials | $3.0M | 0.8% | 97K | +26% | |||
| 45 | $ABCB | Ameris Bancorp | Financials | $2.8M | 0.7% | 31K | -3% | |||
| 46 | $FWONA | Liberty Media Corp | Communication Services | $2.8M | 0.7% | 2.22M | -3% | |||
| 47 | $LXP | LXP Industrial Trust | Real Estate | $2.7M | 0.7% | 49K | -9% | |||
| 48 | $HCI | HCI Group, Inc. | Financials | $2.6M | 0.7% | 15K | -3% | |||
| 49 | $ACI | Albertsons Companies, Inc. | Consumer Staples | $2.5M | 0.7% | 185K | +24% | |||
| 50 | $FCCO | FIRST COMMUNITY CORP /SC/ | Financials | $2.5M | 0.7% | 77K | — | |||
| 51 | $AIG | AMERICAN INTERNATIONAL GROUP, INC. | Financials | $2.5M | 0.6% | 33K | — | |||
| 52 | — | VANGUARD INDEX FUNDS S&P 500 ETF USD - S&P 500 ETF SHS | — | $2.4M | 0.6% | 3,462 | +9% | |||
| 53 | $SLB | SLB LIMITED/NV | Energy | $2.4M | 0.6% | 51K | +4% | |||
| 54 | — | FLAGSTAR BANK - UNIT 05/07/2051 | — | $2.2M | 0.6% | 54K | -4% | |||
| 55 | $WGO | WINNEBAGO INDUSTRIES INC | Industrials | $2.1M | 0.6% | 2.31M | -1% | |||
| 56 | $SPB | Spectrum Brands Holdings, Inc. | Technology | $2.0M | 0.5% | 1.97M | New | |||
| 57 | $T | AT&T INC. | Communication Services | $2.0M | 0.5% | 98K | +58% | |||
| 58 | $FISI | FINANCIAL INSTITUTIONS INC | Financials | $1.9M | 0.5% | 49K | — | |||
| 59 | $CNH | CNH Industrial N.V. | Industrials | $1.9M | 0.5% | 171K | +0.8% | |||
| 60 | $PFIS | PEOPLES FINANCIAL SERVICES CORP. | Financials | $1.9M | 0.5% | 29K | -0.0% | |||
| 61 | — | ALPHABET INC DEP SHS RP1/20 B PFD - DEP SHS RP1/20 B | — | $1.9M | 0.5% | 38K | New | |||
| 62 | — | CHEESECAKE FACTORY INC BOND - NOTE 2.000% 3/1 | — | $1.9M | 0.5% | 1.46M | -3% | |||
| 63 | — | VANECK ETF TR VANECK GOLD MINERS ETF - GOLD MINERS ETF | — | $1.7M | 0.5% | 23K | +5% | |||
| 64 | $HAE | HAEMONETICS CORP | Healthcare | $1.7M | 0.5% | 1.73M | -1% | |||
| 65 | $ETSY | ETSY INC | Industrials | $1.7M | 0.4% | 1.80M | -3% | |||
| 66 | $BANC | BANC OF CALIFORNIA, INC. | Financials | $1.6M | 0.4% | 81K | +1% | |||
| 67 | $WEC | WEC ENERGY GROUP, INC. | Utilities | $1.6M | 0.4% | 1.50M | New | |||
| 68 | $GWRE | Guidewire Software, Inc. | Technology | $1.5M | 0.4% | 1.59M | New | |||
| 69 | $TSN | TYSON FOODS, INC. | Consumer Staples | $1.5M | 0.4% | 26K | -2% | |||
| 70 | $VSH | VISHAY INTERTECHNOLOGY INC | Technology | $1.5M | 0.4% | 735K | -10% | |||
| 71 | $PCRX | Pacira BioSciences, Inc. | Healthcare | $1.4M | 0.4% | 1.44M | -3% | |||
| 72 | — | SOLVAY BK CORP SOLVAY NEW YORK COM - COM | — | $1.2M | 0.3% | 38K | +0.2% | |||
| 73 | — | ISHARES TRUST US - US REGNL BKS ETF | — | $1.1M | 0.3% | 18K | — | |||
| 74 | — | CITIZENS BANCORP VA INC COM - COM | — | $1.1M | 0.3% | 29K | — | |||
| 75 | $DOV | DOVER Corp | Industrials | $963K | 0.3% | 6,135 | New | |||
| 76 | $WIW | WESTERN ASSET INFLATION-LINKED OPPORTUNITIES & INCOME FUND | Other | $941K | 0.2% | 112K | +6% | |||
| 77 | $VGM | Invesco Trust for Investment Grade Municipals | — | $913K | 0.2% | 86K | — | |||
| 78 | $HWC | HANCOCK WHITNEY CORP | Financials | $814K | 0.2% | 11K | — | |||
| 79 | $AGI | ALAMOS GOLD INC | Materials | $786K | 0.2% | 26K | +139% | |||
| 80 | — | AMPHASTAR PHARMACEUTICALS INC BOND - NOTE 2.000% 3/1 | — | $758K | 0.2% | 835K | -57% | |||
| 81 | $MTB | M&T BANK CORP | Financials | $757K | 0.2% | 3,179 | -2% | |||
| 82 | $IFF | INTERNATIONAL FLAVORS & FRAGRANCES INC | Materials | $683K | 0.2% | 8,602 | -9% | |||
| 83 | — | FIRST TRUST NASDAQ ABA CBIF - UT COM SHS ETF | — | $664K | 0.2% | 9,868 | -3% | |||
| 84 | $MSFT | MICROSOFT CORP | Technology | $623K | 0.2% | 1,671 | +2% | |||
| 85 | $BRK.B | BERKSHIRE HATHAWAY INC | Financials | $600K | 0.2% | 1,200 | -10% | |||
| 86 | $SSB | SouthState Bank Corp | Financials | $588K | 0.1% | 5,890 | +2% | |||
| 87 | — | ISHARES CORE S&P US VALUE ETF - CORE S&P US VLU | — | $501K | 0.1% | 4,550 | — | |||
| 88 | $ORCL | ORACLE CORP | Technology | $440K | 0.1% | 3,000 | — | |||
| 89 | $ABBV | AbbVie Inc. | Healthcare | $410K | 0.1% | 1,629 | -15% | |||
| 90 | $JPM | JPMORGAN CHASE & CO | Financials | $392K | 0.1% | 1,198 | +0.8% | |||
| 91 | $SBCF | SEACOAST BANKING CORP OF FLORIDA | Financials | $360K | 0.1% | 11K | — | |||
| 92 | $SPY | SPDR S&P 500 ETF TRUST | — | $334K | 0.1% | 448 | -7% | |||
| 93 | $SKE | Skeena Resources Ltd | Materials | $317K | 0.1% | 12K | — | |||
| 94 | $GLD | SPDR GOLD TRUST | Financials | $310K | 0.1% | 842 | +85% | |||
| 95 | — | FIDELITY FUNDAMENTAL SMALL-MID CAP ETF - FUN SMA MID ETF | — | $300K | 0.1% | 7,860 | -3% | |||
| 96 | $ES | EVERSOURCE ENERGY | Utilities | $300K | 0.1% | 4,147 | -2% | |||
| 97 | $KR | KROGER CO | Consumer Staples | $278K | 0.1% | 5,005 | +1% | |||
| 98 | $FRAF | FRANKLIN FINANCIAL SERVICES CORP /PA/ | Financials | $275K | 0.1% | 4,400 | — | |||
| 99 | $ALB | ALBEMARLE CORP | Materials | $259K | 0.1% | 4,675 | — | |||
| 100 | $STWD | STARWOOD PROPERTY TRUST, INC. | Real Estate | $250K | 0.1% | 245K | -73% | |||
| 101 | $AMZN | AMAZON COM INC | Consumer Discretionary | $240K | 0.1% | 1,005 | — | |||
| 102 | $AAPL | Apple Inc. | Technology | $228K | 0.1% | 787 | New | |||
| 103 | $TSM | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | Technology | $220K | 0.1% | 461 | +1% | |||
| 104 | $EBMT | Eagle Bancorp Montana, Inc. | Financials | $215K | 0.1% | 9,000 | — | |||
| 105 | $SWZ | Total Return Securities Fund | Other | $213K | 0.1% | 36K | New | |||
| 106 | $GOOGL | Alphabet Inc. | Technology | $196K | 0.1% | 549 | -52% | |||
| 107 | $XOM.R34088 | EXXON MOBIL CORP | Energy | $179K | 0.1% | 1,309 | +1% | |||
| 108 | $IBM | INTERNATIONAL BUSINESS MACHINES CORP | Technology | $172K | 0.0% | 613 | +0.3% | |||
| 109 | $QQQ | INVESCO QQQ TRUST, SERIES 1 | — | $168K | 0.0% | 228 | — | |||
| 110 | $HL | HECLA MINING CO/DE/ | Materials | $154K | 0.0% | 10K | — | |||
| 111 | $DUK | Duke Energy CORP | Utilities | $150K | 0.0% | 1,183 | — | |||
| 112 | — | GREENBRIER COS INC BOND - NOTE 2.875% 4/1 | — | $134K | 0.0% | 117K | — | |||
| 113 | $JHX | James Hardie Industries plc | Materials | $133K | 0.0% | 5,075 | New | |||
| 114 | $HALO | HALOZYME THERAPEUTICS, INC. | Healthcare | $122K | 0.0% | 110K | — | |||
| 115 | $LNG | Cheniere Energy, Inc. | Energy | $121K | 0.0% | 505 | New | |||
| 116 | $DVN | DEVON ENERGY CORP/DE | Energy | $115K | 0.0% | 2,785 | New | |||
| 117 | — | SELECT SECTOR SPDR TRUST STATE STREET - ST STR TECHN ETF | — | $114K | 0.0% | 600 | New | |||
| 118 | $OXY | OCCIDENTAL PETROLEUM CORP /DE/ | Energy | $113K | 0.0% | 2,325 | New | |||
| 119 | — | ISHARES RUSSELL MID-CAP VALUE ETF - RUS MDCP VAL ETF | — | $113K | 0.0% | 684 | New | |||
| 120 | $SLV | iShares Silver Trust | Financials | $109K | 0.0% | 2,038 | — | |||
| 121 | $TEX | TEREX CORP | Industrials | $107K | 0.0% | 1,485 | New | |||
| 122 | $AGCO | AGCO CORP /DE | Industrials | $106K | 0.0% | 885 | New | |||
| 123 | $LOW | LOWES COMPANIES INC | Consumer Discretionary | $106K | 0.0% | 479 | +1% | |||
| 124 | $IVZ | Invesco Ltd. | Financials | $101K | 0.0% | 474 | New |
What changed in Q2 2026
Against the previous quarter's 13F: 16 new, 35 added to, 50 trimmed, 7 sold out. Share-count changes; largest moves by dollar size first.
New positions (16)
$SPBSpectrum Brands Holdings, Inc.$2.0M
first bought this quarter
- ALPHABET INC DEP SHS RP1/20 B PFD - DEP SHS RP1/20 B$1.9M
first bought this quarter
$WECWEC ENERGY GROUP, INC.$1.6M
first bought this quarter
$GWREGuidewire Software, Inc.$1.5M
first bought this quarter
$DOVDOVER Corp$963K
first bought this quarter
$AAPLApple Inc.$228K
first bought this quarter
+10 more in the Excel export
Added to (35)
$BACBANK OF AMERICA CORP /DE/+46%
now $6.2M · held 2 qtrs, 2 adds in a row
$NOGNORTHERN OIL & GAS, INC.+33%
now $5.0M · held 4 qtrs, 4 adds in a row
$TAT&T INC.+58%
now $2.0M · held 6+ qtrs
$BBTBeacon Financial Corp+26%
now $3.0M · held 4 qtrs, 4 adds in a row
$ACIAlbertsons Companies, Inc.+24%
now $2.5M · held 6+ qtrs, 2 adds in a row
$AGIALAMOS GOLD INC+139%
now $786K · held 6+ qtrs
+29 more in the Excel export
Trimmed (50)
- AMPHASTAR PHARMACEUTICALS INC BOND - NOTE 2.000% 3/1-57%
now $758K
$STWDSTARWOOD PROPERTY TRUST, INC.-73%
now $250K · held 6+ qtrs, 2 trims in a row
now $6.6M · held 6+ qtrs
- CSB BANCORP - COM-12%
now $4.2M
now $7.1M · held 6+ qtrs
now $14.5M · held 6+ qtrs
+44 more in the Excel export
Holdings by quarter
Every 13F Cutler Capital Management, LLC has filed, 36 earlier quarters. Pick one to see what it held then.
Is it too late to follow Cutler Capital Management?
Q2 2026 13F filed with the SEC on Aug 14, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of Cutler Capital Management's top 20 holdings: 59/100 (our AI quality score, weighted by position size; 18 of the 20 are scored)
Top 10 since filing
+0.2%
Value-weighted move of the 10 largest stock positions
Turnover
4%
Last quarter; 15% over the last 4
Top 10 weight
31%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
95%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2025 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
Cutler Capital Management, LLC disclosed 124 positions worth $385.0M in its Form 13F-HR for Q2 2026, led by $AEM (AGNICO EAGLE MINES LTD) at 4.7% of the equity portfolio, followed by $MET and $CTO. During the quarter the fund opened 16 new positions and exited 7 — including a new stake in $SPB and a full exit from $AAPL. The portfolio is most concentrated in Financials (26.3% of disclosed assets). All figures are sourced directly from Cutler Capital Management, LLC’s Form 13F-HR filing with the SEC under CIK 1353098.
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