Cutler Capital Management, LLC — 13F Holdings & Portfolio
CIK 1353098 · latest 13F-HR filed 2026-08-14
Cutler Capital Management, LLC manages $385.0M in 13F-reported U.S. long-equity assets across 124 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are AEM (4.69%), MET (3.77%), CTO (3.64%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 16 new positions and exited 6; 61 existing positions rose in reported value and 23 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
Long-equity book
Distinct positions
Filed 2026-08-14
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
| Name | Title / Status | Ownership | Type |
|---|
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- BANK AMERICA CORP CNV PFD L$2.2M +53.9%
- METLIFE INC COM USD0.01$2.1M +16.8%
- NORTHERN OIL&GAS INC COM$1.9M +88.9%
- CTO RLTY GROWTH INC NEW COM$1.8M +14.9%
- SB FINL GROUP INC COM$1.6M +19.6%
Top Trims
- AGNICO EAGLE MINES LTD COM-$6.0M -25.0%
- SHELL PLC SPON ADS EA REP 2 ORD SHS-$1.8M -17.6%
- BUNGE GLOBAL SA COM USD0.01-$1.8M -17.8%
- FIDELITY MSCI ENERGY INDEX ETF-$1.2M -13.0%
- PFIZER INC-$1.1M -15.5%
New Positions
- SPECTRUM BRANDS INC BOND$2.0M
- ALPHABET INC DEP SHS RP1/20 B PFD$1.9M
- WEC ENERGY GROUP INC BOND$1.6M
- GUIDEWIRE SOFTWARE INC BOND$1.5M
- VANGUARD INTL EQUITY INDEX FDS TT WRLD ST$962.9K
Exited Positions
- JAZZ INVEST$3.1M
- LCI INDS CONV$1.4M
- PEBBLEBRK HOTEL$292.2K
- VE GLBL WIDE MT$108.4K
- ALPHABET INC$107.6K
Cutler Capital Management, LLC Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | AGNICO EAGLE MINES LTD COM | AEM | 008474108 | $18.0M | 4.69% | 116,334 | SH |
| 2 | METLIFE INC COM USD0.01 | MET | 59156R108 | $14.5M | 3.77% | 171,535 | SH |
| 3 | CTO RLTY GROWTH INC NEW COM | CTO | 22948Q101 | $14.0M | 3.64% | 651,274 | SH |
| 4 | TIMBERLAND BANCORP INC | TSBK | 887098101 | $12.8M | 3.32% | 285,258 | SH |
| 5 | EXCHANGE BK SANTA ROSA CALIF COM | EXSR | 301227203 | $12.4M | 3.21% | 74,934 | SH |
| 6 | PARKE BANCORP INC COM STK USD0.10 | PKBK | 700885106 | $10.4M | 2.71% | 314,126 | SH |
| 7 | SB FINL GROUP INC COM | SBFG | 78408D105 | $9.8M | 2.55% | 387,852 | SH |
| 8 | FIRST BUSINESS FINL SVCS INC W COM | FBIZ | 319390100 | $9.8M | 2.53% | 154,346 | SH |
| 9 | SHELL PLC SPON ADS EA REP 2 ORD SHS | SHEL | 780259305 | $8.5M | 2.20% | 109,361 | SH |
| 10 | BUNGE GLOBAL SA COM USD0.01 | BG | H11356104 | $8.3M | 2.16% | 77,792 | SH |
| 11 | LIBERTY MEDIA CORP DEL BOND | FWONA | 531229AP7 | $8.1M | 2.10% | 7,033,000 | PRN |
| 12 | FIDELITY MSCI ENERGY INDEX ETF | FENY | 316092402 | $7.9M | 2.05% | 267,547 | SH |
| 13 | BENCHMARK BANKSHARES INC | BMBN | 08160E207 | $7.4M | 1.93% | 179,382 | SH |
| 14 | VIATRIS INC COM | VTRS | 92556V106 | $7.1M | 1.85% | 448,363 | SH |
| 15 | PROGRESS SOFTWARE CORP BOND | PRGS | 743312AD2 | $7.1M | 1.84% | 7,390,000 | PRN |
| 16 | MERCK&CO. INC COM | MRK | 58933Y105 | $7.1M | 1.84% | 55,048 | SH |
| 17 | PPL CAPITAL FUNDING INC BOND | PPL | 69352PAS2 | $6.9M | 1.79% | 6,065,000 | PRN |
| 18 | CHIRON REAL ESTATE INC COMMON STOCK | XRN | 37954A303 | $6.8M | 1.76% | 180,161 | SH |
| 19 | INNOVIVA INC BOND | INVA | 45781MAD3 | $6.6M | 1.73% | 6,195,000 | PRN |
| 20 | ENERGY TRANSFER L P COM UT LTD PTN | ET | 29273V100 | $6.6M | 1.72% | 345,960 | SH |
| 21 | BANK OF BOTETOURT | I:BANK | 063907208 | $6.5M | 1.69% | 122,465 | SH |
| 22 | CHESAPEAKE FINANCIAL SHARES | — | 16517A109 | $6.4M | 1.67% | 178,850 | SH |
| 23 | BANK AMERICA CORP CNV PFD L | BACPL | 060505682 | $6.2M | 1.60% | 4,905 | SH |
| 24 | VERIZON COMMUNICATIONS INC | VZ | 92343V104 | $6.1M | 1.60% | 145,238 | SH |
| 25 | LEDYARD FINANCIAL GROUP INC COM USD1.00 | LFGP | 523338101 | $6.1M | 1.59% | 343,621 | SH |
| 26 | FIRST NATL CORP COM | FXNC | 32106V107 | $6.1M | 1.59% | 203,809 | SH |
| 27 | PFIZER INC | PFE | 717081103 | $5.9M | 1.53% | 245,185 | SH |
| 28 | POTOMAC BANCSHARES INC COM | BANC | 737643106 | $5.5M | 1.44% | 231,048 | SH |
| 29 | KIMCO REALTY CORP PFD | KIMPN | 49446R687 | $5.5M | 1.42% | 87,693 | SH |
| 30 | VICI PPTYS INC COM | VICI | 925652109 | $5.3M | 1.39% | 201,181 | SH |
| 31 | MERCHANTS FINL GROUP INC COM | MNMB | 588538108 | $5.2M | 1.36% | 132,830 | SH |
| 32 | APPLE HOSPITALITY REIT INC COM NEW | APLE | 03784Y200 | $5.1M | 1.31% | 300,869 | SH |
| 33 | NORTHERN OIL&GAS INC BOND | NOG | 665531AJ8 | $5.0M | 1.31% | 5,265,000 | PRN |
| 34 | F&M BK CORP CAP STK | FMBM | 30237P106 | $4.9M | 1.27% | 134,364 | SH |
| 35 | WEYERHAEUSER CO MTN BE COM NEW | WY | 962166104 | $4.5M | 1.18% | 189,903 | SH |
| 36 | COMMUNITY WEST BANCSHARES NEW COM | CWBC | 203937107 | $4.4M | 1.13% | 162,139 | SH |
| 37 | CSB BANCORP | CSBB | 12628R107 | $4.2M | 1.09% | 58,284 | SH |
| 38 | ALERUS FINL CORP COM | ALRS | 01446U103 | $4.2M | 1.09% | 134,400 | SH |
| 39 | NORTHERN OIL&GAS INC COM | NOG | 665531307 | $4.1M | 1.06% | 223,884 | SH |
| 40 | FSBH CORP COM | FSBH | 30325F101 | $3.9M | 1.02% | 240,000 | SH |
| 41 | VANECK ETF TRUST MRNGSTR WDE MOAT | MOAT | 92189F643 | $3.9M | 1.01% | 37,508 | SH |
| 42 | ENERGIZER HLDGS INC NEW COM | ENR | 29272W109 | $3.4M | 0.88% | 158,733 | SH |
| 43 | SFL CORPORATION LTD COM USD0.01 | SFL | G7738W106 | $3.3M | 0.85% | 322,242 | SH |
| 44 | BEACON FINANCIAL CORP. COM | BBT | 084680107 | $3.0M | 0.77% | 97,306 | SH |
| 45 | AMERIS BANCORP | ABCB | 03076K108 | $2.8M | 0.72% | 30,759 | SH |
| 46 | LIBERTY MEDIA CORP DEL BOND | FWONA | 531229AQ5 | $2.8M | 0.72% | 2,220,000 | PRN |
| 47 | LXP INDUSTRIAL TRUST COM | LXP | 529043408 | $2.7M | 0.69% | 49,487 | SH |
| 48 | HCI GROUP INC | HCI | 40416E103 | $2.6M | 0.67% | 14,662 | SH |
| 49 | ALBERTSONS COS INC COMMON STOCK | ACI | 013091103 | $2.5M | 0.65% | 185,187 | SH |
| 50 | FIRST COMMUNITY CORP | FCCO | 319835104 | $2.5M | 0.65% | 76,500 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-14 | $385.0M | 124 | 0001353098-26-000004 |
| 2026-03-31 | 2026-05-15 | $369.9M | 116 | 0001353098-26-000003 |
| 2025-12-31 | 2026-02-13 | $343.1M | 122 | 0001353098-26-000002 |
| 2025-09-30 | 2025-11-14 | $313.8M | 124 | 0001353098-25-000008 |
WORCESTER, MA 01608