CUTLER CAPITAL MANAGEMENT, LLC

Filed: 5/12/2023ACC: 0001353098-23-000004

📋 What this filing means

CUTLER CAPITAL MANAGEMENT, LLC filed this quarterly 13F‑HR report disclosing 104 equity positions with a total reported market value of $224.26M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

104

Positions

$224.26M

Total AUM (reported)

24.92M

Total Shares

Allocation by class

COM$184.64M82.3%

DEB$14.70M6.6%

PFD$13.80M6.2%

ADR SHARES$5.57M2.5%

PARTENRSHIP SHARES$5.14M2.3%

COM CLASS B$412.5K0.2%

Portfolio Concentration

Top 3$25.73M11.5%

4–10$45.13M20.1%

11–25$61.08M27.2%

Rest$92.32M41.2%

Top 3 weight

11.5%

Top 10 weight

31.6%

Voting Authority Distribution

Total shares with voting rights: 24.92M

Sole

Full voting authority

5.04M

% of voting shares20.2%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

19.87M

% of voting shares79.8%

Investment Discretion (by position count)

Sole104

Shared0

Other0

Dominant voting typeNone · 79.8% of voting shares

Institutional Holdings104

Rows:

METLIFE

SOLE

COM

Shares170.49K

TypeSH

Market value$9.88M

4.40%

Sole

54K

Shared

0.00

None

116.49K

MERCK

SOLE

COM

Shares76.67K

TypeSH

Market value$8.16M

3.64%

Sole

20K

Shared

0.00

None

56.67K

TIMBERLAND BANK

SOLE

COM

Shares284.96K

TypeSH

Market value$7.70M

3.43%

Sole

90K

Shared

0.00

None

194.96K

EXCHANGE BANK

SOLE

COM

Shares74.90K

TypeSH

Market value$7.64M

3.41%

Sole

23.50K

Shared

0.00

None

51.40K

BUNGE LIMITED

SOLE

COM

Shares73.21K

TypeSH

Market value$6.99M

3.12%

Sole

26K

Shared

0.00

None

47.21K

PFIZER

SOLE

COM

Shares170.80K

TypeSH

Market value$6.97M

3.11%

Sole

40K

Shared

0.00

None

130.80K

AGNICO EAGLE

SOLE

COM

Shares136.64K

TypeSH

Market value$6.96M

3.11%

Sole

30K

Shared

0.00

None

106.64K

LEDYARD FINANCIAL

SOLE

COM

Shares329.23K

TypeSH

Market value$5.60M

2.50%

Sole

139K

Shared

0.00

None

190.23K

SB FINANCIAL

SOLE

COM

Shares396.30K

TypeSH

Market value$5.60M

2.50%

Sole

132.30K

Shared

0.00

None

264K

PARKE BANCORP

SOLE

COM

Shares301.39K

TypeSH

Market value$5.36M

2.39%

Sole

106K

Shared

0.00

None

195.39K

ENERGY TRANSFER MLP

SOLE

PARTENRSHIP SHARES

Shares411.85K

TypeSH

Market value$5.14M

2.29%

Sole

0.00

Shared

0.00

None

411.85K

SHELL PLC

SOLE

ADR SHARES

Shares84.20K

TypeSH

Market value$4.85M

2.16%

Sole

25K

Shared

0.00

None

59.20K

INTL FLAVORS

SOLE

COM

Shares51.49K

TypeSH

Market value$4.74M

2.11%

Sole

9.60K

Shared

0.00

None

41.89K

ENERGIZER

SOLE

COM

Shares130.42K

TypeSH

Market value$4.53M

2.02%

Sole

44K

Shared

0.00

None

86.42K

WEYERHAEUSER

SOLE

COM

Shares149.84K

TypeSH

Market value$4.51M

2.01%

Sole

40K

Shared

0.00

None

109.84K

FIDELITY ENERGY ETF

SOLE

COM

Shares201.18K

TypeSH

Market value$4.51M

2.01%

Sole

71K

Shared

0.00

None

130.18K

FIRST BUSINESS

SOLE

COM

Shares145.43K

TypeSH

Market value$4.44M

1.98%

Sole

92.50K

Shared

0.00

None

52.92K

COMMUNITY WEST

SOLE

COM

Shares313.99K

TypeSH

Market value$3.97M

1.77%

Sole

173K

Shared

0.00

None

140.99K

CHESAPEAKE FINL

SOLE

COM

Shares172.50K

TypeSH

Market value$3.94M

1.76%

Sole

106.50K

Shared

0.00

None

66K

SFL CORP

SOLE

DEB

Shares3.71M

TypePRN

Market value$3.68M

1.64%

Sole

0.00

Shared

0.00

None

3.71M

VIATRIS INC

SOLE

COM

Shares366.67K

TypeSH

Market value$3.53M

1.57%

Sole

66K

Shared

0.00

None

300.67K

NY COMM BANC

SOLE

PFD

Shares88.50K

TypeSH

Market value$3.42M

1.53%

Sole

0.00

Shared

0.00

None

88.50K

TYSON FOODS

SOLE

COM

Shares56.29K

TypeSH

Market value$3.34M

1.49%

Sole

18K

Shared

0.00

None

38.29K

HARBOR CUSTOM

SOLE

PFD

Shares581.05K

TypeSH

Market value$3.26M

1.45%

Sole

150K

Shared

0.00

None

431.05K

PRA GROUP

SOLE

DEB

Shares3.25M

TypePRN

Market value$3.22M

1.44%

Sole

0.00

Shared

0.00

None

3.25M

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
METLIFESOLE	COM	170.49K	SH	$9.88M 4.40%	54K	116.49K
MERCKSOLE	COM	76.67K	SH	$8.16M 3.64%	20K	56.67K
TIMBERLAND BANKSOLE	COM	284.96K	SH	$7.70M 3.43%	90K	194.96K
EXCHANGE BANKSOLE	COM	74.90K	SH	$7.64M 3.41%	23.50K	51.40K
BUNGE LIMITEDSOLE	COM	73.21K	SH	$6.99M 3.12%	26K	47.21K
PFIZERSOLE	COM	170.80K	SH	$6.97M 3.11%	40K	130.80K
AGNICO EAGLESOLE	COM	136.64K	SH	$6.96M 3.11%	30K	106.64K
LEDYARD FINANCIALSOLE	COM	329.23K	SH	$5.60M 2.50%	139K	190.23K
SB FINANCIALSOLE	COM	396.30K	SH	$5.60M 2.50%	132.30K	264K
PARKE BANCORPSOLE	COM	301.39K	SH	$5.36M 2.39%	106K	195.39K
ENERGY TRANSFER MLPSOLE	PARTENRSHIP SHARES	411.85K	SH	$5.14M 2.29%	0.00	411.85K
SHELL PLCSOLE	ADR SHARES	84.20K	SH	$4.85M 2.16%	25K	59.20K
INTL FLAVORSSOLE	COM	51.49K	SH	$4.74M 2.11%	9.60K	41.89K
ENERGIZERSOLE	COM	130.42K	SH	$4.53M 2.02%	44K	86.42K
WEYERHAEUSERSOLE	COM	149.84K	SH	$4.51M 2.01%	40K	109.84K
FIDELITY ENERGY ETFSOLE	COM	201.18K	SH	$4.51M 2.01%	71K	130.18K
FIRST BUSINESSSOLE	COM	145.43K	SH	$4.44M 1.98%	92.50K	52.92K
COMMUNITY WESTSOLE	COM	313.99K	SH	$3.97M 1.77%	173K	140.99K
CHESAPEAKE FINLSOLE	COM	172.50K	SH	$3.94M 1.76%	106.50K	66K
SFL CORPSOLE	DEB	3.71M	PRN	$3.68M 1.64%	0.00	3.71M
VIATRIS INCSOLE	COM	366.67K	SH	$3.53M 1.57%	66K	300.67K
NY COMM BANCSOLE	PFD	88.50K	SH	$3.42M 1.53%	0.00	88.50K
TYSON FOODSSOLE	COM	56.29K	SH	$3.34M 1.49%	18K	38.29K
HARBOR CUSTOMSOLE	PFD	581.05K	SH	$3.26M 1.45%	150K	431.05K
PRA GROUPSOLE	DEB	3.25M	PRN	$3.22M 1.44%	0.00	3.25M

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