1y return+25.9%S&P 500 +20.9%
3y return+45.1%S&P 500 +68.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since September 30, 2022: $138 against $209 in the S&P 500.2
Cutler Capital Management, LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| AEMAgnico Eagle Mines Ltd Com | $18.0M | 5.4% | −1.9% |
| METMetlife Inc Com Usd0.01 | $14.5M | 4.4% | −2.4% |
| CTOCto Rlty Growth Inc New Com | $14.0M | 4.2% | −1.2% |
| TSBKTimberland Bancorp Inc | $12.8M | 3.9% | −2.0% |
| EXSRExchange Bk Santa Rosa Calif Com | $12.4M | 3.7% | −1.1% |
| PKBKParke Bancorp Inc Com Stk Usd0.10 | $10.4M | 3.1% | −1.0% |
| SBFGSb Finl Group Inc Com | $9.8M | 3.0% | |
| FBIZFirst Business Finl Svcs Inc W Com | $9.8M | 2.9% | |
| SHELShell PLC Spon Ads Ea Rep 2 Ord Shs | $8.5M | 2.6% | −1.2% |
| Bunge Global Sa Com Usd0.01CUSIP H11356104 | $8.3M | 2.5% | −2.0% |
| FENYFidelity Msci Energy Index Etf | $7.9M | 2.4% | |
| BMBNBenchmark Bankshares Inc | $7.4M | 2.2% | +3.6% |
| VTRSViatris Inc Com | $7.1M | 2.1% | −1.7% |
| MRKMerck&co. Inc Com | $7.1M | 2.1% | −5.7% |
| XRNChiron Real Estate Inc Common Stock | $6.8M | 2.0% | +4.6% |
| ETEnergy Transfer L P Com Ut Ltd Ptn | $6.6M | 2.0% | −8.3% |
| BORTBank Of Botetourt | $6.5M | 2.0% | |
| CPKFChesapeake Financial Shares | $6.4M | 1.9% | |
| Bank America Corp Cnv Pfd LCUSIP 060505682 | $6.2M | 1.9% | +46.2% |
| VZVerizon Communications Inc | $6.1M | 1.9% | +2.7% |
| LFGPLedyard Financial Group Inc Com Usd1.00 | $6.1M | 1.8% | +2.4% |
| FXNCFirst Natl Corp Com | $6.1M | 1.8% | |
| PFEPfizer Inc | $5.9M | 1.8% | −1.4% |
| PTBSPotomac Bancshares Inc Com | $5.5M | 1.7% | |
| Kimco Realty Corp PfdCUSIP 49446R687 | $5.5M | 1.7% | −2.5% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| FBIZFirst Business Finl Svcs Inc W Com | June 30, 2020 | +284.1% | $9.8M |
| ABCBAmeris Bancorp | June 30, 2020 | +282.6% | $2.8M |
| TSBKTimberland Bancorp Inc | June 30, 2020 | +146.1% | $12.8M |
| PKBKParke Bancorp Inc Com Stk Usd0.10 | June 30, 2020 | +144.7% | $10.4M |
| ETEnergy Transfer L P Com Ut Ltd Ptn | December 31, 2021 | +132.3% | $6.6M |
| METMetlife Inc Com Usd0.01 | June 30, 2020 | +131.7% | $14.5M |
| MFGIMerchants Finl Group Inc Com | June 30, 2020 | +122.7% | $5.2M |
| AEMAgnico Eagle Mines Ltd Com | December 31, 2020 | +120.0% | $18.0M |
| FXNCFirst Natl Corp Com | June 30, 2020 | +116.4% | $6.1M |
| MRKMerck&co. Inc Com | June 30, 2020 | +66.2% | $7.1M |
Sold off last quarter
- MOTGVe Glbl Wide Mt was $108K
- GOOGAlphabet Inc was $108K
- Johnson ControlCUSIP G51502105 was $105K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +4.0% | +14.8% |
| March 31, 2026 | +8.1% | −4.6% |
| December 31, 2025 | +5.2% | +2.4% |
| September 30, 2025 | +6.4% | +7.8% |
| June 30, 2025 | −0.1% | +10.5% |
| March 31, 2025 | +1.3% | −4.6% |
| December 31, 2024 | −1.6% | +2.1% |
| September 30, 2024 | +9.6% | +5.4% |
| June 30, 2024 | +0.3% | +4.0% |
| March 31, 2024 | −1.5% | +10.0% |
| December 31, 2023 | +10.6% | +11.2% |
| September 30, 2023 | −3.4% | −3.6% |
| June 30, 2023 | −0.9% | +8.3% |
| March 31, 2023 | −9.1% | +7.0% |
| December 31, 2022 | +5.2% | +7.1% |
| June 30, 2022 | −9.3% | −16.5% |
| March 31, 2022 | −16.8% | −4.9% |
| December 31, 2021 | +11.5% | +10.7% |
| September 30, 2021 | −12.0% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Cutler Capital Management, LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1353098&type=13F-HR&dateb=&owner=include&count=40CIK 1353098
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1353098/000135309826000004/Filed August 14, 2026 · accession 0001353098-26-000004