Cutler Capital Management, LLC

CIK

1353098

Location

WORCESTER, MA

Portfolio Value

Small $245,811,563

Diversification

Diversified

Filing Date

Global Rank

#3,799 / 8,604 ▲ 279 · as of Mar 2026

Top Industry

Banks - Regional 34.3%

3Y Alpha vs SPY

-2.5%

Period ended 3 months ago

Filed May 15, 2026 · 55d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+66.5%

SPY

+76.5%

Annualised alpha

-2.3%

Max drawdown

−14.4%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

74 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

9.8%

+0.7 pts

Top 5

28.7%

−0.4 pts

Top 10

46.1%

+0.1 pts

HHI

339

Diversified+4

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	42.3%	$104,017,349	30
Real Estate	13.7%	$33,643,421	6
Basic Materials	10.5%	$25,778,886	5
Energy	9.1%	$22,466,960	5
Healthcare	8.4%	$20,590,670	4
Consumer Defensive	6.0%	$14,733,713	4
Communication Services	3.8%	$9,231,205	3
Industrials	3.3%	$8,005,842	4
Technology	2.4%	$5,793,821	5
Unclassified	0.3%	$779,491	4
Utilities	0.2%	$449,134	2
Consumer Cyclical	0.1%	$321,071	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

20 positions

Ticker	Company	Δ Shares	Shares	Value
NOG	Northern Oil & Gas, Inc.	+42,709	73,609	$2,151,591
ENR	Energizer Holdings, Inc.	+29,930	149,905	$2,461,440
XRN	Chiron Real Estate Inc.	+17,189	172,211	$5,696,739
VICI	Vici Properties Inc.	+15,650	202,685	$5,537,354
APLE	Apple Hospitality REIT, Inc.	+10,400	300,670	$3,460,711
MET	Metlife Inc	+9,633	175,759	$12,429,676
BBT	Beacon Financial Corp	+8,055	77,238	$2,317,140
WY	Weyerhaeuser Co	+8,050	174,110	$4,253,507
ET	Energy Transfer LP	+3,907	377,198	$7,279,921
VZ	Verizon Communications Inc	+3,622	141,366	$7,096,573
ACI	Albertsons Companies, Inc.	+2,950	149,662	$2,550,240
WIW	Western Asset Inflation-Linked Opportunities & Income Fund	+2,200	106,092	$897,538
FXNC	First National Corp /Va/	+1,000	204,109	$5,494,614
PKBK	Parke Bancorp, Inc.	+973	317,426	$9,014,898
FBIZ	First Business Financial Services, Inc.	+805	154,590	$8,337,038
BANC	Banc Of California, Inc.	+800	79,550	$1,398,489
AIG	American International Group, Inc.	+200	33,000	$2,483,250
BMBN	Benchmark Bankshares Inc	+200	173,082	$6,317,493
LOW	Lowes Companies Inc	+53	473	$111,760
SSB	SouthState Bank Corp	+32	5,755	$532,452
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
CTO	CTO Realty Growth, Inc.	−4,173	659,370	$12,191,751
SFL	SFL Corp Ltd.	−3,500	330,892	$3,570,324
ES	Eversource Energy	−2,500	4,247	$294,232
SKE	Skeena Resources Ltd	−1,925	11,880	$353,073
ABCB	Ameris Bancorp	−1,600	31,859	$2,484,683
ALRS	Alerus Financial Corp	−1,530	136,470	$3,235,703
AEM	Agnico Eagle Mines Ltd	−1,516	118,598	$24,073,022
VTRS	Viatris Inc	−1,300	456,272	$6,164,234
PFE	Pfizer Inc	−960	248,771	$6,985,489
SBFG	Sb Financial Group, Inc.	−845	390,137	$8,192,877
JCI	Johnson Controls International plc	−750	800	$104,760
CNH	CNH Industrial N.V.	−625	169,938	$1,869,318
SHEL	Shell plc	−625	110,701	$10,295,193
AGI	Alamos Gold Inc	−600	10,822	$480,821
TSBK	Timberland Bancorp Inc	−600	291,202	$11,482,094
BG	Bunge Global SA	−560	79,360	$10,094,592
CSBB	CSB Bancorp, Inc.	−437	66,563	$4,150,868
SLB	Slb Limited/Nv	−398	49,054	$2,520,885
SLV	iShares Silver Trust	−337	2,038	$138,869
CWBC	Community West Bancshares	−239	162,590	$3,788,347
KR	Kroger Co	−200	4,955	$358,543
HCI	HCI Group, Inc.	−189	15,104	$2,335,229
QQQ	Invesco Qqq Trust, Series 1	−157	228	$131,597
IFF	International Flavors & Fragrances Inc	−142	9,451	$685,670
MRK	Merck & Co., Inc.	−136	58,396	$7,024,454
No positions match the current search.

New Positions

Positions the filer opened this quarter

1 positions

Ticker	Company	Shares	Value	Open
LXP	LXP Industrial Trust	54,115	$2,503,359
No positions match the current search.

Sold Out

Positions the filer fully exited

1 positions

Ticker	Company	Shares	Value	Open
B	Barrick Mining Corp	2,325	$101,253
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

74 positions · $245,811,563 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 74 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
AEM	Agnico Eagle Mines Ltd Basic Materials	Reduced	118,598	-1,516	$24,073,022	+18.2%	9.79%
MET	Metlife Inc Financial Services	Added	175,759	+9,633	$12,429,676	−5.2%	5.06%
CTO	CTO Realty Growth, Inc. Real Estate	Reduced	659,370	-4,173	$12,191,751	−0.2%	4.96%
TSBK	Timberland Bancorp Inc Financial Services	Reduced	291,202	-600	$11,482,094	+9.9%	4.67%
SHEL	Shell plc Energy	Reduced	110,701	-625	$10,295,193	+25.9%	4.19%
BG	Bunge Global SA Consumer Defensive	Reduced	79,360	-560	$10,094,592	+41.8%	4.11%
PKBK	Parke Bancorp, Inc. Financial Services	Added	317,426	+973	$9,014,898	+13.8%	3.67%
FBIZ	First Business Financial Services, Inc. Financial Services	Added	154,590	+805	$8,337,038	−0.2%	3.39%
SBFG	Sb Financial Group, Inc. Financial Services	Reduced	390,137	-845	$8,192,877	−5.9%	3.33%
ET	Energy Transfer LP Energy	Added	377,198	+3,907	$7,279,921	+18.3%	2.96%
VZ	Verizon Communications Inc Communication Services	Added	141,366	+3,622	$7,096,573	+26.5%	2.89%
MRK	Merck & Co., Inc. Healthcare	Reduced	58,396	-136	$7,024,454	+14.0%	2.86%
PFE	Pfizer Inc Healthcare	Reduced	248,771	-960	$6,985,489	+12.3%	2.84%
BMBN	Benchmark Bankshares Inc Financial Services	Added	173,082	+200	$6,317,493	+9.0%	2.57%
VTRS	Viatris Inc Healthcare	Reduced	456,272	-1,300	$6,164,234	+8.2%	2.51%
CPKF	Chesapeake Financial Shares Inc Financial Services	Held	178,500	0	$5,710,215	+13.2%	2.32%
XRN	Chiron Real Estate Inc. Real Estate	Added	172,211	+17,189	$5,696,739	+8.9%	2.32%
VICI	Vici Properties Inc. Real Estate	Added	202,685	+15,650	$5,537,354	+5.3%	2.25%
FXNC	First National Corp /Va/ Financial Services	Added	204,109	+1,000	$5,494,614	+7.2%	2.24%
AAPL	Apple Inc. Technology	Held	17,500	0	$4,441,325	−6.6%	1.81%
WY	Weyerhaeuser Co Real Estate	Added	174,110	+8,050	$4,253,507	+8.1%	1.73%
CSBB	CSB Bancorp, Inc. Financial Services	Reduced	66,563	-437	$4,150,868	+14.7%	1.69%
FMBM	F&M Bank Corp Financial Services	Held	135,864	0	$4,141,134	+6.0%	1.68%
CWBC	Community West Bancshares Financial Services	Reduced	162,590	-239	$3,788,347	+3.4%	1.54%
SFL	SFL Corp Ltd. Industrials	Reduced	330,892	-3,500	$3,570,324	+36.7%	1.45%
APLE	Apple Hospitality REIT, Inc. Real Estate	Added	300,670	+10,400	$3,460,711	+0.6%	1.41%
ALRS	Alerus Financial Corp Financial Services	Reduced	136,470	-1,530	$3,235,703	+4.1%	1.32%
ACI	Albertsons Companies, Inc. Consumer Defensive	Added	149,662	+2,950	$2,550,240	+1.2%	1.04%
SLB	Slb Limited/Nv Energy	Reduced	49,054	-398	$2,520,885	+32.8%	1.03%
LXP	LXP Industrial Trust Real Estate	NEW	54,115	NEW	$2,503,359	NEW	1.02%
ABCB	Ameris Bancorp Financial Services	Reduced	31,859	-1,600	$2,484,683	−0.0%	1.01%
AIG	American International Group, Inc. Financial Services	Added	33,000	+200	$2,483,250	−11.5%	1.01%
ENR	Energizer Holdings, Inc. Industrials	Added	149,905	+29,930	$2,461,440	+3.1%	1.00%
HCI	HCI Group, Inc. Financial Services	Reduced	15,104	-189	$2,335,229	−20.3%	0.95%
BBT	Beacon Financial Corp Financial Services	Added	77,238	+8,055	$2,317,140	+27.0%	0.94%
FCCO	First Community Corp /Sc/ Financial Services	Held	76,500	0	$2,236,095	−1.4%	0.91%
NOG	Northern Oil & Gas, Inc. Energy	Added	73,609	+42,709	$2,151,591	+224.3%	0.88%
CNH	CNH Industrial N.V. Industrials	Reduced	169,938	-625	$1,869,318	+18.9%	0.76%
T	At&T Inc. Communication Services	Reduced	62,256	-100	$1,804,801	+16.5%	0.73%
TSN	Tyson Foods, Inc. Consumer Defensive	Reduced	27,007	-100	$1,730,338	+8.9%	0.70%
FISI	Financial Institutions Inc Financial Services	Held	49,428	0	$1,567,361	+1.7%	0.64%
PFIS	Peoples Financial Services Corp. Financial Services	Held	28,748	0	$1,533,130	+9.5%	0.62%
BANC	Banc Of California, Inc. Financial Services	Added	79,550	+800	$1,398,489	−7.9%	0.57%
WIW	Western Asset Inflation-Linked Opportunities & Income Fund Financial Services	Added	106,092	+2,200	$897,538	+0.6%	0.37%
VGM	Invesco Trust for Investment Grade Municipals Financial Services	Held	86,117	0	$849,974	−4.8%	0.35%
HWC	Hancock Whitney Corp Financial Services	Held	10,898	0	$693,003	−0.1%	0.28%
IFF	International Flavors & Fragrances Inc Basic Materials	Reduced	9,451	-142	$685,670	+6.1%	0.28%
MTB	M&T Bank Corp Financial Services	Held	3,238	0	$669,359	+2.6%	0.27%
BRK-B	Berkshire Hathaway Inc Financial Services	Held	1,330	0	$637,336	−4.7%	0.26%
MSFT	Microsoft Corp Technology	Held	1,646	0	$609,299	−23.5%	0.25%