Cutler Capital Management, LLC 13F holdings
Cutler Capital Management, LLC reported 104 positions with a total reported value of $331.8M as of 2026-06-30, in its 13F for Q2 2026, filed 2026-08-14. Top holdings by reported value: AEM AGNICO EAGLE MINES LTD COM (5.4%), MET METLIFE INC COM USD0.01 (4.4%), CTO CTO RLTY GROWTH INC NEW COM (4.2%), TSBK TIMBERLAND BANCORP INC (3.9%), EXCHANGE BK SANTA ROSA CALIF COM (3.7%). Against 2026-03-31 it opened 44 new positions and exited 34. Next 13F due by 2026-11-14, the legal deadline 45 days after the quarter ending 2026-09-30.
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Top holdings
25 largest of 104 positions · reported value as of 2026-06-30
| Holding | Shares | Reported value | % of portfolio |
|---|---|---|---|
| AEM AGNICO EAGLE MINES LTD COM | 116,334 | $18.0M | 5.4% |
| MET METLIFE INC COM USD0.01 | 171,535 | $14.5M | 4.4% |
| CTO CTO RLTY GROWTH INC NEW COM | 651,274 | $14.0M | 4.2% |
| TSBK TIMBERLAND BANCORP INC | 285,258 | $12.8M | 3.9% |
| EXCHANGE BK SANTA ROSA CALIF COM | 74,934 | $12.4M | 3.7% |
| PKBK PARKE BANCORP INC COM STK USD0.10 | 314,126 | $10.4M | 3.1% |
| SB FINL GROUP INC COM | 387,852 | $9.8M | 3.0% |
| FIRST BUSINESS FINL SVCS INC W COM | 154,346 | $9.8M | 2.9% |
| SHEL SHELL PLC SPON ADS EA REP 2 ORD SHS | 109,361 | $8.5M | 2.6% |
| BG BUNGE GLOBAL SA COM USD0.01 | 77,792 | $8.3M | 2.5% |
| FIDELITY MSCI ENERGY INDEX ETF | 267,547 | $7.9M | 2.4% |
| BMBN BENCHMARK BANKSHARES INC | 179,382 | $7.4M | 2.2% |
| VTRS VIATRIS INC COM | 448,363 | $7.1M | 2.1% |
| MRK MERCK&CO. INC COM | 55,048 | $7.1M | 2.1% |
| XRN CHIRON REAL ESTATE INC COMMON STOCK | 180,161 | $6.8M | 2.0% |
| ET ENERGY TRANSFER L P COM UT LTD PTN | 345,960 | $6.6M | 2.0% |
| BANK OF BOTETOURT | 122,465 | $6.5M | 2.0% |
| CPKF CHESAPEAKE FINANCIAL SHARES | 178,850 | $6.4M | 1.9% |
| BAC BANK AMERICA CORP CNV PFD L | 4,905 | $6.2M | 1.9% |
| VZ VERIZON COMMUNICATIONS INC | 145,238 | $6.1M | 1.9% |
| LEDYARD FINANCIAL GROUP INC COM USD1.00 | 343,621 | $6.1M | 1.8% |
| FIRST NATL CORP COM | 203,809 | $6.1M | 1.8% |
| PFE PFIZER INC | 245,185 | $5.9M | 1.8% |
| PTBS POTOMAC BANCSHARES INC COM | 231,048 | $5.5M | 1.7% |
| KIM KIMCO REALTY CORP PFD | 87,693 | $5.5M | 1.7% |
SEC FORM 13F · Q2 2026 · VALUES AS REPORTED, NOT PRICES
New positions this quarter
Held at 2026-06-30, not at 2026-03-31 · 44 in all · reported value as of 2026-06-30
| Holding | Shares | Reported value | % of portfolio |
|---|---|---|---|
| EXCHANGE BK SANTA ROSA CALIF COM | 74,934 | $12.4M | 3.7% |
| SB FINL GROUP INC COM | 387,852 | $9.8M | 3.0% |
| FIRST BUSINESS FINL SVCS INC W COM | 154,346 | $9.8M | 2.9% |
| FIDELITY MSCI ENERGY INDEX ETF | 267,547 | $7.9M | 2.4% |
| BANK OF BOTETOURT | 122,465 | $6.5M | 2.0% |
| LEDYARD FINANCIAL GROUP INC COM USD1.00 | 343,621 | $6.1M | 1.8% |
| FIRST NATL CORP COM | 203,809 | $6.1M | 1.8% |
| VICI PPTYS INC COM | 201,181 | $5.3M | 1.6% |
| MERCHANTS FINL GROUP INC COM | 132,830 | $5.2M | 1.6% |
| ALERUS FINL CORP COM | 134,400 | $4.2M | 1.3% |
| FSBH CORP COM | 240,000 | $3.9M | 1.2% |
| VANECK ETF TRUST MRNGSTR WDE MOAT | 37,508 | $3.9M | 1.2% |
| ALBERTSONS COS INC COMMON STOCK | 185,187 | $2.5M | 0.8% |
| FIRST COMMUNITY CORP | 76,500 | $2.5M | 0.8% |
| AMERICAN INTERNATIONAL GROUP | 33,000 | $2.5M | 0.7% |
| VANGUARD INDEX FUNDS S&P 500 ETF USD | 3,462 | $2.4M | 0.7% |
| FLAGSTAR BANK | 53,868 | $2.2M | 0.7% |
| CNH INDUSTRIAL NV COM EUR0.01 | 171,233 | $1.9M | 0.6% |
| PEOPLES FINANCIAL SERVICES GROUP COM USD2 | 28,746 | $1.9M | 0.6% |
| VANECK ETF TR VANECK GOLD MINERS ETF | 23,142 | $1.7M | 0.5% |
| SOLVAY BK CORP SOLVAY NEW YORK COM | 37,591 | $1.2M | 0.4% |
| ISHARES TRUST US | 18,000 | $1.1M | 0.3% |
| CITIZENS BANCORP VA INC COM | 28,525 | $1.1M | 0.3% |
| VANGUARD INTL EQUITY INDEX FDS TT WRLD ST | 6,135 | $962.9K | 0.3% |
| WESTERN AST INFL LKD OPP&INM COM | 111,992 | $940.7K | 0.3% |
Sold out
Held at 2026-03-31, gone by 2026-06-30 · 34 in all · reported value as of 2026-03-31
| Holding | Shares 2026-03-31 | Reported value | % of portfolio then |
|---|---|---|---|
| EXCHANGE BANK | 75,781 | $11.0M | 3.6% |
| FIDELITY CVNGTN | 267,315 | $9.1M | 2.9% |
| FIRST BUSINESS | 154,590 | $8.3M | 2.7% |
| SB FINANCIAL | 390,137 | $8.2M | 2.6% |
| BANK BOTETOURT | 122,465 | $5.8M | 1.9% |
| LEDYARD FINAN | 335,696 | $5.7M | 1.8% |
| VICI PRPTY | 202,685 | $5.5M | 1.8% |
| FIRST NATL VA | 204,109 | $5.5M | 1.8% |
| MERCHANTS FINL | 126,950 | $4.5M | 1.4% |
| FSBH CORP | 240,000 | $3.8M | 1.2% |
| VE WIDE MOAT | 36,753 | $3.6M | 1.1% |
| ALERUS FINAN | 136,470 | $3.2M | 1.0% |
| ALBERTSONS COS | 149,662 | $2.6M | 0.8% |
| AMERICAN INTL | 33,000 | $2.5M | 0.8% |
| FIRST CMNTY SC | 76,500 | $2.2M | 0.7% |
| FLAGSTAR FNCL | 56,093 | $2.2M | 0.7% |
| VE GOLD MINERS | 22,107 | $2.0M | 0.7% |
| VGRD S&P 500 | 3,177 | $1.9M | 0.6% |
| CNH INDUSTRIAL | 169,938 | $1.9M | 0.6% |
| PEOPLES FIN SERV | 28,748 | $1.5M | 0.5% |
| SOLVAY BANK | 37,522 | $1.1M | 0.4% |
| CITIZENS BANC VA | 28,525 | $1.1M | 0.3% |
| ISHARES US REGIO | 18,000 | $969.1K | 0.3% |
| WESTERN OPP FUND | 106,092 | $897.5K | 0.3% |
| INVESCO MUNI | 86,117 | $850.0K | 0.3% |
Biggest increases and decreases
Positions held at both quarter ends, by change in shares · reported value as of 2026-06-30
Increases
| Holding | Shares 2026-03-31 | Shares 2026-06-30 | Change | Reported value |
|---|---|---|---|---|
| NOG NORTHERN OIL&GAS INC COM | 73,609 | 223,884 | +204.2% | $4.1M |
| GOOGL ALPHABET INC CAP STK CL A | 1,522 | 38,324 | +2,418.0% | $2.1M |
| BAC BANK AMERICA CORP CNV PFD L | 3,355 | 4,905 | +46.2% | $6.2M |
| T AT&T INC COM USD1 | 62,256 | 98,318 | +57.9% | $2.0M |
| BBT BEACON FINANCIAL CORP. COM | 77,238 | 97,306 | +26.0% | $3.0M |
| AGI ALAMOS GOLD INC COM | 10,822 | 25,897 | +139.3% | $785.7K |
| WY WEYERHAEUSER CO MTN BE COM NEW | 174,110 | 189,903 | +9.1% | $4.5M |
| XRN CHIRON REAL ESTATE INC COMMON STOCK | 172,211 | 180,161 | +4.6% | $6.8M |
| BMBN BENCHMARK BANKSHARES INC | 173,082 | 179,382 | +3.6% | $7.4M |
| ENR ENERGIZER HLDGS INC NEW COM | 149,905 | 158,733 | +5.9% | $3.4M |
| VZ VERIZON COMMUNICATIONS INC | 141,366 | 145,238 | +2.7% | $6.1M |
| GLD SPDR GOLD TR GOLD SHS | 456 | 842 | +84.6% | $310.2K |
Decreases
| Holding | Shares 2026-03-31 | Shares 2026-06-30 | Change | Reported value |
|---|---|---|---|---|
| ET ENERGY TRANSFER L P COM UT LTD PTN | 377,198 | 345,960 | -8.3% | $6.6M |
| CSBB CSB BANCORP | 66,563 | 58,284 | -12.4% | $4.2M |
| MRK MERCK&CO. INC COM | 58,396 | 55,048 | -5.7% | $7.1M |
| MET METLIFE INC COM USD0.01 | 175,759 | 171,535 | -2.4% | $14.5M |
| AEM AGNICO EAGLE MINES LTD COM | 118,598 | 116,334 | -1.9% | $18.0M |
| TSBK TIMBERLAND BANCORP INC | 291,202 | 285,258 | -2.0% | $12.8M |
| LXP LXP INDUSTRIAL TRUST COM | 54,115 | 49,487 | -8.6% | $2.7M |
| CTO CTO RLTY GROWTH INC NEW COM | 659,370 | 651,274 | -1.2% | $14.0M |
| BG BUNGE GLOBAL SA COM USD0.01 | 79,360 | 77,792 | -2.0% | $8.3M |
| KIM KIMCO REALTY CORP PFD | 89,943 | 87,693 | -2.5% | $5.5M |
| VTRS VIATRIS INC COM | 456,272 | 448,363 | -1.7% | $7.1M |
| PKBK PARKE BANCORP INC COM STK USD0.10 | 317,426 | 314,126 | -1.0% | $10.4M |
CIK 1353098 · 13F FILINGS ON EDGAR · INFORMATIONAL ONLY
