Cutler Capital Management, LLC
Reported holdings as of Q2 2026, from 31 quarterly filings.
Holdings
| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| AGNICO EAGLE MINES LTD | AEM | $18.0M | 116,334 | -1.82pp | 23q | -1.9%-$351.2K | |
| METLIFE INC | MET | $14.5M | 171,535 | +0.41pp | 31q | -2.4%-$357.4K | |
| CTO RLTY GROWTH INC NEW | CTO | $14.0M | 651,274 | +0.34pp | 16q | -1.2%-$174.1K | |
| TIMBERLAND BANCORP INC | TSBK | $12.8M | 285,258 | +0.22pp | 31q | -2.0%-$266.4K | |
| EXCHANGE BANK | EXSR | $12.4M | 74,934 | +0.23pp | 31q | -1.1%-$139.8K | |
| PARKE BANCORP INC | PKBK | $10.4M | 314,126 | +0.27pp | 31q | -1.0%-$109.4K | |
| SB FINL GROUP INC | SBFG | $9.8M | 387,852 | +0.33pp | 31q | -0.6%-$57.7K | |
| FIRST BUSINESS FINL SVCS INC | FBIZ | $9.8M | 154,346 | +0.28pp | 31q | HELD | |
| SHELL PLC | SHEL | $8.5M | 109,361 | -0.58pp | 18q | -1.2%-$103.9K | |
| BUNGE GLOBAL SA | BG | $8.3M | 77,792 | -0.57pp | 11q | -2.0%-$167.4K | |
| LIBERTY MEDIA CORP DEL | $8.1M | 7,033,000 | +0.07pp | 9q | DEBT | ||
| FIDELITY COVINGTON TRUST | FENY | $7.9M | 267,547 | -0.40pp | 18q | HELD | |
| BENCHMARK BANK | BMBN | $7.4M | 179,382 | +0.24pp | 31q | +3.6%+$261.4K | |
| VIATRIS INC | VTRS | $7.1M | 448,363 | +0.18pp | 23q | -1.7%-$125.6K | |
| PROGRESS SOFTWARE CORP | $7.1M | 7,390,000 | +0.03pp | 6q | DEBT | ||
| MERCK & CO INC | MRK | $7.1M | 55,048 | -0.06pp | 31q | -5.7%-$430.3K | |
| PPL CAP FDG INC | $6.9M | 6,065,000 | -0.18pp | 10q | DEBT | ||
| CHIRON REAL ESTATE INC | XRN | $6.8M | 180,161 | +0.22pp | 4q | +4.6%+$298.3K | |
| INNOVIVA INC | $6.6M | 6,195,000 | -0.12pp | 7q | DEBT | ||
| ENERGY TRANSFER L P | ET | $6.6M | 345,960 | -0.25pp | 19q | -8.3%-$597.3K | |
| Bank of Botetourt | BORT | $6.5M | 122,465 | +0.14pp | 31q | HELD | |
| Chesapeake Financial Shares Inc | CPKF | $6.4M | 178,850 | +0.13pp | 31q | HELD | |
| BANK OF AMER CORP | BACPRL | $6.2M | 4,905 | +0.52pp | 2q | +46.2%+$1.9M | |
| VERIZON COMMUNICATIONS INC | VZ | $6.1M | 145,238 | -0.32pp | 22q | +2.7%+$163.9K | |
| Ledyard Financial Group Inc | LFGP | $6.1M | 343,621 | +0.04pp | 18q | +2.4%+$141.1K | |
| FIRST NATL CORP VA | FXNC | $6.1M | 203,809 | +0.10pp | 29q | HELD | |
| PFIZER INC | PFE | $5.9M | 245,185 | -0.36pp | 31q | -1.4%-$86.4K | |
| Potomac Bancshares, Inc. | PTBS | $5.5M | 231,048 | +0.20pp | 21q | HELD | |
| KIMCO REALTY CORP | KIMPRN | $5.5M | 87,693 | -0.03pp | 10q | -2.5%-$140.5K | |
| VICI PPTYS INC | VICI | $5.3M | 201,181 | -0.11pp | 18q | -0.7%-$40.0K | |
| Merchants Financial Group Inc | MFGI | $5.2M | 132,830 | +0.16pp | 29q | +4.6%+$231.7K | |
| APPLE HOSPITALITY REIT INC | APLE | $5.1M | 300,869 | +0.38pp | 16q | HELD | |
| NORTHERN OIL & GAS INC | $5.0M | 5,265,000 | +0.14pp | 4q | DEBT | ||
| F&M BANCORP | FMBM | $4.9M | 134,364 | +0.15pp | 31q | -1.1%-$54.6K | |
| WEYERHAEUSER CO | WY | $4.5M | 189,903 | +0.03pp | 31q | +9.1%+$378.1K | |
| COMMUNITY WEST BANCSHARES NE | CWBC | $4.4M | 162,139 | +0.11pp | 7q | HELD | |
| CSB BANCORP | CSBB | $4.2M | 58,284 | -0.03pp | 28q | -12.4%-$596.1K | |
| ALERUS FINL CORP | ALRS | $4.2M | 134,400 | +0.21pp | 16q | -1.5%-$64.4K | |
| NORTHERN OIL & GAS INC | NOG | $4.1M | 223,884 | +0.47pp | 3q | +204.2%+$2.7M | |
| FSBH CORP | FSBH | $3.9M | 240,000 | -0.02pp | 15q | HELD | |
| VANECK ETF TRUST | MOAT | $3.9M | 37,508 | +0.05pp | 22q | +2.1%+$78.5K | |
| ENERGIZER HLDGS INC | ENR | $3.4M | 158,733 | +0.22pp | 18q | +5.9%+$189.3K | |
| SFL CORPORATION LTD | SFL | $3.3M | 322,242 | -0.11pp | 13q | -2.6%-$88.2K | |
| BEACON FINANCIAL CORP. | BBT | $3.0M | 97,306 | +0.14pp | 4q | +26.0%+$611.1K | |
| AMERIS BANCORP | ABCB | $2.8M | 30,759 | +0.05pp | 28q | -3.5%-$99.3K | |
| LIBERTY MEDIA CORP DEL | $2.8M | 2,220,000 | flat | 11q | DEBT | ||
| LXP INDUSTRIAL TRUST | LXP | $2.7M | 49,487 | +0.02pp | 2q | -8.6%-$249.4K | |
| HCI GROUP INC | HCI | $2.6M | 14,662 | +0.04pp | 5q | -2.9%-$77.5K | |
| ALBERTSONS COMPANIES INC | ACI | $2.5M | 185,187 | -0.04pp | 15q | +23.7%+$480.7K | |
| FIRST CMNTY CORP S C | FCCO | $2.5M | 76,500 | +0.04pp | 30q | HELD | |
| AMERICAN INTL GROUP INC | AIG | $2.5M | 33,000 | -0.03pp | 24q | HELD | |
| VANGUARD INDEX FDS | VOO | $2.4M | 3,462 | +0.10pp | 19q | +9.0%+$195.7K | |
| SLB LIMITED | SLB | $2.4M | 51,074 | -0.06pp | 7q | +4.1%+$93.9K | |
| FLAGSTAR BANK NATIONAL ASSOC | FLGPRU | $2.2M | 53,868 | -0.01pp | 31q | -4.0%-$91.3K | |
| WINNEBAGO INDS INC | $2.1M | 2,310,000 | -0.01pp | 4q | DEBT | ||
| SPECTRUM BRANDS INC | $2.0M | 1,965,000 | - | new | DEBT | ||
| AT&T INC | T | $2.0M | 98,318 | +0.04pp | 23q | +57.9%+$746.5K | |
| FINANCIAL INSTITUTIONS INC | FISI | $1.9M | 49,428 | +0.08pp | 29q | HELD | |
| CNH INDL N V | CNH | $1.9M | 171,233 | -0.01pp | 10q | +0.8%+$14.5K | |
| PEOPLES FINL SVCS CORP | PFIS | $1.9M | 28,746 | +0.08pp | 8q | HELD | |
| ALPHABET INC | $1.9M | 37,775 | - | new | NEW | ||
| CHEESECAKE FACTORY INC | $1.9M | 1,455,000 | +0.07pp | 2q | DEBT | ||
| VANECK ETF TRUST | GDX | $1.7M | 23,142 | -0.10pp | 22q | +4.7%+$78.1K | |
| HAEMONETICS CORP MASS | $1.7M | 1,725,000 | flat | 4q | DEBT | ||
| ETSY INC | $1.7M | 1,805,000 | -0.02pp | 10q | DEBT | ||
| BANC OF CALIFORNIA INC | BANC | $1.6M | 80,550 | +0.05pp | 12q | +1.3%+$20.4K | |
| WEC ENERGY GROUP INC | $1.6M | 1,500,000 | - | new | DEBT | ||
| GUIDEWIRE SOFTWARE INC | $1.5M | 1,595,000 | - | new | DEBT | ||
| TYSON FOODS INC | TSN | $1.5M | 26,340 | -0.08pp | 19q | -2.5%-$38.2K | |
| VISHAY INTERTECHNOLOGY INC | $1.5M | 735,000 | +0.17pp | 7q | DEBT | ||
| PACIRA BIOSCIENCES INC | $1.4M | 1,435,000 | -0.01pp | 4q | DEBT | ||
| SOLVAY BANK | SOBS | $1.2M | 37,591 | +0.02pp | 31q | HELD | |
| ISHARES TR | IAT | $1.1M | 18,000 | +0.03pp | 4q | HELD | |
| CITIZENS BANC | CZBT | $1.1M | 28,525 | flat | 28q | HELD | |
| VANGUARD INTL EQUITY INDEX F | VT | $962.9K | 6,135 | - | new | NEW | |
| WESTERN AST INFL LKD OPP & I | WIW | $940.7K | 111,992 | flat | 10q | +5.6%+$49.6K | |
| INVESCO TR INVT GRADE MUNS | VGM | $912.8K | 86,117 | +0.01pp | 31q | HELD | |
| HANCOCK WHITNEY CORPORATION | HWC | $814.3K | 10,898 | +0.02pp | 29q | HELD | |
| ALAMOS GOLD INC | AGI | $785.7K | 25,897 | +0.07pp | 7q | +139.3%+$457.4K | |
| AMPHASTAR PHARMACEUTICALS IN | $758.2K | 835,000 | -0.28pp | 6q | DEBT | ||
| M & T BK CORP | MTB | $756.7K | 3,179 | +0.02pp | 17q | -1.8%-$14.0K | |
| INTERNATIONAL FLAVORS&FRAGRA | IFF | $683.3K | 8,602 | -0.01pp | 20q | -9.0%-$67.4K | |
| FIRST TR EXCHANGE-TRADED FD | QABA | $664.0K | 9,868 | +0.01pp | 20q | -3.3%-$22.8K | |
| MICROSOFT CORP | MSFT | $623.2K | 1,671 | flat | 21q | +1.5%+$9.3K | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $600.5K | 1,200 | -0.02pp | 22q | -9.8%-$65.1K | |
| SOUTHSTATE BK CORP | SSB | $588.4K | 5,890 | +0.01pp | 3q | +2.3%+$13.5K | |
| ISHARES TR | IUSV | $501.2K | 4,550 | flat | 17q | HELD | |
| ORACLE CORP | ORCL | $439.6K | 3,000 | -0.01pp | 7q | HELD | |
| ABBVIE INC | ABBV | $409.9K | 1,629 | -0.01pp | 15q | -14.9%-$72.0K | |
| JPMORGAN CHASE & CO | JPM | $392.1K | 1,198 | +0.01pp | 10q | +0.8%+$3.3K | |
| SEACOAST BKG CORP FLA | SBCF | $360.0K | 10,826 | flat | 31q | HELD | |
| STATE STR SPDR S&P 500 ETF T | SPY | $334.3K | 448 | flat | 22q | -6.9%-$24.6K | |
| SKEENA RES LTD NEW | SKE | $316.7K | 11,880 | -0.01pp | 5q | HELD | |
| SPDR GOLD TR | GLD | $310.2K | 842 | +0.03pp | 5q | +84.6%+$142.2K | |
| FIDELITY COVINGTON TRUST | FFSM | $300.3K | 7,860 | +0.01pp | 3q | -3.3%-$10.1K | |
| EVERSOURCE ENERGY | ES | $299.7K | 4,147 | flat | 5q | -2.4%-$7.2K | |
| KROGER CO | KR | $277.9K | 5,005 | -0.02pp | 11q | +1.0%+$2.8K | |
| FRANKLIN FINL SVCS CORP | FRAF | $275.4K | 4,400 | +0.01pp | 31q | HELD | |
| ALBEMARLE CORP | ALBPRA | $258.8K | 4,675 | -0.02pp | 9q | HELD | |
| STARWOOD PPTY TR INC | $249.8K | 245,000 | -0.19pp | 11q | DEBT | ||
| AMAZON COM INC | AMZN | $239.5K | 1,005 | +0.01pp | 12q | HELD | |
| APPLE INC | AAPL | $227.7K | 787 | -1.14pp | 3q | HELD | |
| TAIWAN SEMICONDUCTOR MANUFAC | TSM | $220.3K | 461 | +0.02pp | 5q | +1.3%+$2.9K | |
| EAGLE BANCORP MONT INC | EBMT | $215.4K | 9,000 | +0.01pp | 18q | HELD | |
| TOTAL RETURN SECURITIES FUND | SWZ | $213.4K | 35,921 | - | new | NEW | |
| ALPHABET INC | GOOGL | $196.2K | 549 | -0.04pp | 9q | -52.1%-$213.7K | |
| EXXON MOBIL CORP | XOMXXXX | $179.0K | 1,309 | -0.01pp | 7q | +1.2%+$2.2K | |
| INTERNATIONAL BUSINESS MACHS | IBM | $172.4K | 613 | flat | 10q | HELD | |
| INVESCO QQQ TR | QQQ | $168.1K | 228 | +0.01pp | 7q | HELD | |
| HECLA MINING COMPANY | HL | $154.3K | 10,000 | -0.01pp | 4q | HELD | |
| DUKE ENERGY CORP NEW | DUK | $149.7K | 1,183 | flat | 7q | HELD | |
| GREENBRIER COS INC | $133.5K | 117,000 | flat | 13q | DEBT | ||
| JAMES HARDIE INDS PLC | JHX | $132.9K | 5,075 | - | new | NEW | |
| HALOZYME THERAPEUTICS INC | $122.2K | 110,000 | flat | 9q | DEBT | ||
| CHENIERE ENERGY INC | LNG | $120.7K | 505 | - | new | NEW | |
| DEVON ENERGY CORP NEW | DVN | $115.1K | 2,785 | - | new | NEW | |
| SELECT SECTOR SPDR TR | XLK | $114.3K | 600 | - | new | NEW | |
| OCCIDENTAL PETE CORP | OXY | $112.9K | 2,325 | - | new | NEW | |
| ISHARES TR | IWS | $112.6K | 684 | - | new | NEW | |
| ISHARES SILVER TR | SLV | $109.0K | 2,038 | -0.01pp | 3q | HELD | |
| TEREX CORP NEW | TEX | $107.5K | 1,485 | - | new | NEW | |
| AGCO CORP | AGCO | $105.9K | 885 | - | new | NEW | |
| LOWES COS INC | LOW | $105.6K | 479 | flat | 4q | +1.3%+$1.3K | |
| INVESCO EXCHANGE TRADED FD T | RSP | $100.9K | 474 | - | new | NEW |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Banks & Lending | $97.5M | 25.3% |
| Real Estate | $38.4M | 10.0% |
| Energy | $21.9M | 5.7% |
| Biotech & Pharma | $20.5M | 5.3% |
| Insurance | $20.1M | 5.2% |
| Mining & Metals | $19.3M | 5.0% |
| Food, Drink & Tobacco | $9.8M | 2.5% |
| Telecom & Media | $8.2M | 2.1% |
| Other sectors | $18.1M | 4.7% |
| Not classified | $131.2M | 34.1% |
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q2 2026 | $385.0M | 124 | 15 | 29 | 46 | 7 | 30.8% | 45 |
| Q1 2026 | $369.9M | 116 | 3 | 30 | 34 | 9 | 31.9% | 45 |
| Q4 2025 | $343.1M | 122 | 8 | 26 | 35 | 10 | 31.0% | 44 |
| Q3 2025 | $313.8M | 124 | 14 | 36 | 19 | 6 | 32.1% | 45 |
| Q2 2025 | $287.4M | 116 | 9 | 24 | 33 | 10 | 32.9% | 44 |
| Q1 2025 | $287.5M | 117 | 7 | 30 | 26 | 7 | 32.1% | 44 |
| Q4 2024 | $287.2M | 117 | 12 | 27 | 32 | 6 | 30.6% | 44 |
| Q3 2024 | $282.8M | 111 | 5 | 28 | 21 | 5 | 31.0% | 44 |
| Q2 2024 | $256.2M | 111 | 7 | 32 | 15 | 5 | 31.8% | 45 |
| Q1 2024 | $254.4M | 109 | 19 | 39 | 21 | 16 | 32.0% | 44 |
| Q4 2023 | $241.5M | 106 | 10 | 36 | 27 | 15 | 32.0% | 44 |
| Q3 2023 | $221.7M | 111 | 13 | 40 | 12 | 3 | 32.8% | 44 |
| Q2 2023 | $212.9M | 101 | 8 | 49 | 19 | 11 | 32.3% | 46 |
| Q1 2023 | $224.3M | 104 | 4 | 51 | 16 | 7 | 31.6% | 42 |
| Q4 2022 | $243.0M | 107 | 8 | 28 | 23 | 3 | 33.3% | 45 |
| Q3 2022 | $215.8M | 102 | 7 | 46 | 10 | 13 | 31.8% | 45 |
| Q2 2022 | $259.2M | 108 | 13 | 39 | 7 | 17 | 30.0% | 42 |
| Q1 2022 | $281.2M | 112 | 15 | 41 | 17 | 9 | 30.3% | 41 |
| Q4 2021 | $274.9M | 106 | 14 | 43 | 13 | 17 | 30.4% | 40 |
| Q3 2021 | $264.8M | 109 | 12 | 47 | 17 | 6 | 29.9% | 43 |
| Q2 2021 | $260.8M | 103 | 6 | 50 | 10 | 6 | 30.5% | 35 |
| Q1 2021 | $248.8M | 103 | 19 | 42 | 11 | 5 | 30.5% | 22 |
| Q4 2020 | $229.9M | 89 | 8 | 26 | 34 | 8 | 35.2% | 28 |
| Q3 2020 | $183.5M | 89 | 5 | 23 | 32 | 4 | 33.2% | 36 |
| Q2 2020 | $186.5M | 88 | 3 | 10 | 51 | 15 | 31.8% | 43 |
| Q1 2020 | $197.7M | 100 | 6 | 41 | 19 | 16 | 29.6% | 42 |
| Q4 2019 | $284.1M | 110 | 10 | 32 | 20 | 16 | 27.7% | 41 |
| Q3 2019 | $289.4M | 116 | 27 | 33 | 14 | 9 | 31.7% | 39 |
| Q2 2019 | $247.7M | 98 | 15 | 23 | 5 | 11 | 31.2% | 39 |
| Q1 2019 | $241.9M | 94 | 13 | 1 | 79 | 10 | 31.5% | 30 |
| Q4 2018 | $441.4M | 91 | 0 | 0 | 0 | 0 | 33.0% | 25 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.