# Cutler Group LLC / CA

> Institutional holdings reported to the SEC as of Q1 2024 on Form 13F. CIK 1534270. Source: https://holderbook.com/funds/1534270-cutler-group-llc-ca/

- Reported value: $307.3M
- Positions: 1,244
- Weight of the ten largest: 18.9%
- Filed: 2024-04-19

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ISHARES TR | [ITOT](https://holderbook.com/stocks/ITOT/) | $8.5M | 73,794 | 2.8% | 22 |
| ISHARES TR | [IVW](https://holderbook.com/stocks/IVW/) | $7.9M | 93,001 | 2.6% | 10 |
| STATE STR SPDR DOW JONES IND | [DIA](https://holderbook.com/stocks/DIA/) | $6.7M | 39 | 2.2% | 22 |
| MADRIGAL PHARMACEUTICALS INC | [MDGL](https://holderbook.com/stocks/MDGL/) | $6.1M | 15,800 | 2.0% | 22 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $5.5M | 0 | 1.8% | 20 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $5.1M | 4,045 | 1.7% | 22 |
| STRATEGY INC | [MSTR](https://holderbook.com/stocks/MSTR/) | $5.0M | 606 | 1.6% | 13 |
| DIREXION SHARES ETF TRUST | [SOXL](https://holderbook.com/stocks/SOXL/) | $4.6M | 86,400 | 1.5% | 22 |
| SELECT SECTOR SPDR TR | [XLU](https://holderbook.com/stocks/XLU/) | $4.4M | 64,265 | 1.4% | 22 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $4.4M | 0 | 1.4% | 22 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $4.1M | 14,404 | 1.3% | 22 |
| DOORDASH INC | [DASH](https://holderbook.com/stocks/DASH/) | $4.1M | 0 | 1.3% | 14 |
| COINBASE GLOBAL INC | [COIN](https://holderbook.com/stocks/COIN/) | $4.1M | 1,982 | 1.3% | 12 |
| ISHARES TR | [SOXX](https://holderbook.com/stocks/SOXX/) | $3.7M | 15,533 | 1.2% | 22 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $3.3M | 4,030 | 1.1% | 22 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $3.3M | 15,523 | 1.1% | 22 |
| ARM HOLDINGS PLC | [ARM](https://holderbook.com/stocks/ARM/) | $3.3M | 13,838 | 1.1% | 3 |
| SELECT SECTOR SPDR TR | [XLE](https://holderbook.com/stocks/XLE/) | $3.3M | 31,857 | 1.1% | 22 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $3.1M | 6,000 | 1.0% | 22 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $3.1M | 22,887 | 1.0% | 22 |
| PROSHARES TR | [QLD](https://holderbook.com/stocks/QLD/) | $3.0M | 33,461 | 1.0% | 22 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $2.7M | 5,377 | 0.9% | 22 |
| SPDR SERIES TRUST | [KRE](https://holderbook.com/stocks/KRE/) | $2.6M | 49,290 | 0.9% | 22 |
| ISHARES TR | [IWB](https://holderbook.com/stocks/IWB/) | $2.6M | 8,567 | 0.8% | 21 |
| VANECK ETF TRUST | [GDX](https://holderbook.com/stocks/GDX/) | $2.5M | 76,532 | 0.8% | 22 |
| COLGATE PALMOLIVE CO | [CL](https://holderbook.com/stocks/CL/) | $2.4M | 14,216 | 0.8% | 22 |
| AMERICAN ELEC PWR CO INC | [AEP](https://holderbook.com/stocks/AEP/) | $2.4M | 26,031 | 0.8% | 2 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $2.3M | 8,856 | 0.8% | 22 |
| HILTON WORLDWIDE HLDGS INC | [HLT](https://holderbook.com/stocks/HLT/) | $2.3M | 7,460 | 0.8% | 22 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $2.2M | 14,033 | 0.7% | 22 |
| SELECT SECTOR SPDR TR | [XLY](https://holderbook.com/stocks/XLY/) | $2.2M | 7,248 | 0.7% | 22 |
| PROSHARES TR | [UWM](https://holderbook.com/stocks/UWM/) | $2.2M | 38,682 | 0.7% | 22 |
| SELECT SECTOR SPDR TR | [XLV](https://holderbook.com/stocks/XLV/) | $2.2M | 14,113 | 0.7% | 22 |
| PROSHARES TR | [TQQQ](https://holderbook.com/stocks/TQQQ/) | $2.1M | 15,081 | 0.7% | 22 |
| WILLIAMS SONOMA INC | [WSM](https://holderbook.com/stocks/WSM/) | $2.0M | 5,997 | 0.7% | 8 |
| GENERAL MILLS INC | [GIS](https://holderbook.com/stocks/GIS/) | $2.0M | 27,490 | 0.6% | 22 |
| SELECT SECTOR SPDR TR | [XLC](https://holderbook.com/stocks/XLC/) | $1.8M | 21,450 | 0.6% | 20 |
| PROSHARES TR | [SSO](https://holderbook.com/stocks/SSO/) | $1.8M | 19,416 | 0.6% | 22 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $1.7M | 28,683 | 0.6% | 22 |
| AIRBNB INC | [ABNB](https://holderbook.com/stocks/ABNB/) | $1.7M | 8,824 | 0.6% | 14 |
| ISHARES TR | [IWO](https://holderbook.com/stocks/IWO/) | $1.7M | 6,153 | 0.5% | 22 |
| CROWDSTRIKE HLDGS INC | [CRWD](https://holderbook.com/stocks/CRWD/) | $1.6M | 4,121 | 0.5% | 20 |
| AMERICAN TOWER CORP | [AMT](https://holderbook.com/stocks/AMT/) | $1.6M | 5,105 | 0.5% | 22 |
| ALIBABA GROUP HLDG LTD | [BABA](https://holderbook.com/stocks/BABA/) | $1.6M | 19,897 | 0.5% | 22 |
| VOLATILITY SHS TR | [BITX](https://holderbook.com/stocks/BITX/) | $1.6M | 15,080 | 0.5% | 3 |
| UNITED RENTALS INC | [URI](https://holderbook.com/stocks/URI/) | $1.6M | 2,078 | 0.5% | 22 |
| SAREPTA THERAPEUTICS INC | [SRPT](https://holderbook.com/stocks/SRPT/) | $1.5M | 6,900 | 0.5% | 22 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $1.5M | 4,676 | 0.5% | 12 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $1.5M | 12,900 | 0.5% | 22 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $1.4M | 1,300 | 0.5% | 22 |
| SELECT SECTOR SPDR TR | [XLI](https://holderbook.com/stocks/XLI/) | $1.4M | 14 | 0.5% | 22 |
| SUPER MICRO COMPUTER INC | [SMCIXXXX](https://holderbook.com/stocks/SMCIXXXX/) | $1.4M | 1,378 | 0.5% | 8 |
| SHOPIFY INC | [SHOP](https://holderbook.com/stocks/SHOP/) | $1.4M | 14,695 | 0.5% | 9 |
| DIREXION SHARES ETF TRUST | [TNA](https://holderbook.com/stocks/TNA/) | $1.4M | 27,331 | 0.5% | 22 |
| FIRST SOLAR INC | [FSLR](https://holderbook.com/stocks/FSLR/) | $1.4M | 6,988 | 0.4% | 22 |
| TARGET CORP | [TGT](https://holderbook.com/stocks/TGT/) | $1.3M | 3,498 | 0.4% | 22 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $1.3M | 3,000 | 0.4% | 22 |
| VANGUARD INDEX FDS | [VO](https://holderbook.com/stocks/VO/) | $1.3M | 5,218 | 0.4% | 22 |
| GRANITESHARES ETF TR | [CONL](https://holderbook.com/stocks/CONL/) | $1.3M | 16,400 | 0.4% | 1 |
| ABERCROMBIE & FITCH CO | [ANF](https://holderbook.com/stocks/ANF/) | $1.3M | 10,023 | 0.4% | 22 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $1.3M | 0 | 0.4% | 22 |
| CARVANA CO | [CVNA](https://holderbook.com/stocks/CVNA/) | $1.2M | 750 | 0.4% | 22 |
| SELECT SECTOR SPDR TR | [XLP](https://holderbook.com/stocks/XLP/) | $1.2M | 14,001 | 0.4% | 22 |
| VANGUARD WORLD FD | [EDV](https://holderbook.com/stocks/EDV/) | $1.2M | 13,900 | 0.4% | 7 |
| UNITED STATES STL CORP NEW | [X](https://holderbook.com/stocks/X/) | $1.2M | 26,982 | 0.4% | 22 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $1.2M | 5,647 | 0.4% | 22 |
| ISHARES TR | [ITB](https://holderbook.com/stocks/ITB/) | $1.2M | 19 | 0.4% | 22 |
| ISHARES TR | [OEF](https://holderbook.com/stocks/OEF/) | $1.1M | 4,200 | 0.4% | 5 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $1.1M | 0 | 0.4% | 22 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $1.1M | 1,444 | 0.4% | 22 |
| VANECK ETF TRUST | [SMH](https://holderbook.com/stocks/SMH/) | $1.0M | 0 | 0.3% | 22 |
| SPIRIT AEROSYSTEMS HLDGS INC | [SPR](https://holderbook.com/stocks/SPR/) | $1.0M | 16,979 | 0.3% | 21 |
| ISHARES TR | [TLT](https://holderbook.com/stocks/TLT/) | $1.0M | 6,006 | 0.3% | 22 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $973.0K | 2,734 | 0.3% | 22 |
| NIO INC | [NIO](https://holderbook.com/stocks/NIO/) | $959.0K | 102,538 | 0.3% | 20 |
| PBF ENERGY INC | [PBF](https://holderbook.com/stocks/PBF/) | $958.0K | 0 | 0.3% | 22 |
| SPOTIFY TECHNOLOGY S A | [SPOT](https://holderbook.com/stocks/SPOT/) | $945.0K | 3,262 | 0.3% | 20 |
| ETF OPPORTUNITIES TRUST | [NVDX](https://holderbook.com/stocks/NVDX/) | $928.0K | 8,050 | 0.3% | 1 |
| PINTEREST INC | [PINS](https://holderbook.com/stocks/PINS/) | $917.0K | 21,961 | 0.3% | 20 |
| NEWMONT CORP | [NEM](https://holderbook.com/stocks/NEM/) | $912.0K | 21,643 | 0.3% | 22 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $908.0K | 0 | 0.3% | 22 |
| ISHARES TR | [EEM](https://holderbook.com/stocks/EEM/) | $896.0K | 21,615 | 0.3% | 22 |
| BLOCK INC | [XYZ](https://holderbook.com/stocks/XYZ/) | $894.0K | 7,209 | 0.3% | 22 |
| VANGUARD WORLD FD | [MGK](https://holderbook.com/stocks/MGK/) | $891.0K | 3,072 | 0.3% | 20 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $887.0K | 424 | 0.3% | 22 |
| MARATHON PETE CORP | [MPC](https://holderbook.com/stocks/MPC/) | $874.0K | 0 | 0.3% | 22 |
| SNAP INC | [SNAP](https://holderbook.com/stocks/SNAP/) | $874.0K | 67,460 | 0.3% | 18 |
| ZSCALER INC | [ZS](https://holderbook.com/stocks/ZS/) | $866.0K | 4,245 | 0.3% | 22 |
| ISHARES TR | [IYR](https://holderbook.com/stocks/IYR/) | $846.0K | 9,057 | 0.3% | 22 |
| WESTERN DIGITAL CORP | [WDC](https://holderbook.com/stocks/WDC/) | $839.0K | 11,777 | 0.3% | 14 |
| SELECT SECTOR SPDR TR | [XLF](https://holderbook.com/stocks/XLF/) | $813.0K | 11,907 | 0.3% | 22 |
| CARNIVAL CORP | [CCL](https://holderbook.com/stocks/CCL/) | $804.0K | 46,556 | 0.3% | 22 |
| VANECK ETF TRUST | [GDXJ](https://holderbook.com/stocks/GDXJ/) | $797.0K | 18,954 | 0.3% | 22 |
| SEA LTD | [SE](https://holderbook.com/stocks/SE/) | $791.0K | 13,529 | 0.3% | 22 |
| ENPHASE ENERGY INC | [ENPH](https://holderbook.com/stocks/ENPH/) | $787.0K | 5,556 | 0.3% | 19 |
| ISHARES TR | [IWD](https://holderbook.com/stocks/IWD/) | $780.0K | 3,200 | 0.3% | 22 |
| ISHARES TR | [IWV](https://holderbook.com/stocks/IWV/) | $780.0K | 2,600 | 0.3% | 3 |
| XPENG INC | [XPEV](https://holderbook.com/stocks/XPEV/) | $767.0K | 43,335 | 0.2% | 15 |
| VERTIV HOLDINGS CO | [VRT](https://holderbook.com/stocks/VRT/) | $763.0K | 30 | 0.2% | 14 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $760.0K | 1,000 | 0.2% | 22 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q1 2024 | +10.2% | +10.0% | +0.1% | 68% |
| Q4 2023 | +14.5% | +11.2% | +3.3% | 67% |
| Q3 2023 | -5.3% | -3.6% | -1.8% | 63% |
| Q2 2023 | +4.2% | +8.3% | -4.1% | 70% |
| Q1 2023 | +9.1% | +7.0% | +2.0% | 72% |
| Q1 2022 | -6.5% | -4.9% | -1.6% | 62% |
| Q4 2021 | -1.6% | +10.7% | -12.3% | 61% |
| Q3 2021 | -5.1% | +0.3% | -5.4% | 65% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q1 2024 | $307.3M | 1,244 |
| Q4 2023 | $1.1B | 1,715 |
| Q3 2023 | $974.8M | 1,721 |
| Q2 2023 | $719.7M | 1,704 |
| Q1 2023 | $962.2M | 1,786 |
| Q4 2022 | $1.2B | 2,061 |
| Q3 2022 | $1.5B | 2,241 |
| Q2 2022 | $1.4B | 2,261 |
| Q1 2022 | $1.9B | 2,376 |
| Q4 2021 | $2.4B | 2,413 |
| Q3 2021 | $2.2B | 2,502 |
| Q2 2021 | $2.1B | 2,539 |