Q3 2025 · 13F-HR
Cutler Capital Management, LLCholdings as filed
Filed 2025-11-14 · accession 0001353098-25-000008
$313.8M
Reported value
124
Positions
2025-09-30
Period end
The Brief · Cutler Capital Management, LLC · Q3 2025
AI · grounded in 13F
Cutler Capital Management, LLC closed its position in GMREUSD (GLOBAL MEDICAL) with a reduction of $3.28M. The fund established new positions in XRN (GLOBAL MEDICAL) for $3.35M, Northern Oil for $1.61M, and Pacira Bioscience for $1.52M. Additionally, the manager accumulated shares in Progress Software and Innoviva Inc, while trimming holdings in ES (EVERSOURCE) and ET (ENERGY TRANSFER).
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 008474108 | AEM | AGNICO-EAGLE | $20.6M | 6.57% | 122,357 | Common | NONE |
| 59156R108 | MET | METLIFE INC | $13.6M | 4.35% | 165,682 | Common | NONE |
| 22948Q101 | CTO | CTO REALTY GRW | $10.8M | 3.45% | 664,979 | Common | NONE |
| 887098101 | TSBK | TIMBERLAND BANC | $9.7M | 3.09% | 291,802 | Common | NONE |
| 301227203 | EXSR | EXCHANGE BANK | $8.7M | 2.77% | 76,154 | Common | NONE |
| 319390100 | FBIZ | FIRST BUSINESS | $8.0M | 2.54% | 155,493 | Common | SOLE |
| 780259305 | SHEL | SHELL PLC | $7.9M | 2.52% | 110,626 | Common | NONE |
| 78408D105 | SBFG | SB FINANCIAL | $7.6M | 2.41% | 391,683 | Common | NONE |
| 69352pas2 | — | PPL CAPITAL | $7.2M | 2.30% | 6,315,000 | Common | NONE |
| 316092402 | FENY | FIDELITY CVNGTN | $6.7M | 2.14% | 271,219 | Common | NONE |
| 700885106 | PKBK | PARKE BANCORP | $6.7M | 2.13% | 310,657 | Common | NONE |
| H11356104 | BG | BUNGE LIMITED | $6.5M | 2.08% | 80,368 | Common | NONE |
| 717081103 | PFE | PFIZER INC | $6.5M | 2.06% | 253,493 | Common | NONE |
| 29273V100 | ET | ENERGY TRANSFER | $6.2M | 1.98% | 361,397 | Common | NONE |
| 45781mad3 | — | INNOVIVA INC | $6.2M | 1.97% | 6,375,000 | Common | NONE |
| 472145af8 | — | JAZZ INVEST | $6.1M | 1.94% | 5,720,000 | Common | NONE |
| 925652109 | VICI | VICI PRPTY | $5.4M | 1.73% | 166,835 | Common | NONE |
| 49446r687 | — | KIMCO REALTY | $5.4M | 1.72% | 90,465 | Common | NONE |
| 08160E207 | BMBN | BENCHMARK BANK | $5.2M | 1.66% | 170,282 | Common | SOLE |
| 58933Y105 | MRK | MERCK&CO INC | $4.9M | 1.56% | 58,232 | Common | NONE |
| 523338101 | LFGP | LEDYARD FINAN | $4.7M | 1.51% | 337,321 | Common | NONE |
| 32106V107 | FXNC | FIRST NATL VA | $4.6M | 1.47% | 202,716 | Common | SOLE |
| 92556V106 | VTRS | VIATRIS INC | $4.6M | 1.46% | 463,972 | Common | NONE |
| 92343V104 | VZ | VERIZON COMM | $4.6M | 1.45% | 103,726 | Common | NONE |
| 737643106 | PTBS | POTOMAC BANC | $4.3M | 1.38% | 230,220 | Common | SOLE |
| 063907208 | BORT | BANK BOTETOURT | $4.3M | 1.37% | 110,284 | Common | SOLE |
| 743312ad2 | — | PROGRESS SOFTWARE | $4.2M | 1.33% | 4,165,000 | Common | NONE |
| 962166104 | WY | WEYERHAEUSER | $4.1M | 1.30% | 164,410 | Common | NONE |
| 64944p307 | — | FLAGSTAR FNCL | $3.9M | 1.24% | 97,812 | Common | NONE |
| 16517A109 | CPKF | CHESPKE FINAN | $3.9M | 1.23% | 178,906 | Common | SOLE |
| 531229ap7 | — | SIRIUS XM HLDNGS | $3.7M | 1.17% | 3,533,000 | Common | NONE |
| 30237P106 | FMBM | F&M BANK CORP | $3.5M | 1.12% | 135,864 | Common | SOLE |
| 03784Y200 | APLE | APPLE HOPTLY | $3.5M | 1.10% | 287,270 | Common | NONE |
| 203937107 | CWBC | CMNTY WST BANC | $3.4M | 1.08% | 162,152 | Common | NONE |
| 37954A303 | XRN | GLOBAL MEDICAL | $3.4M | 1.07% | 99,453 | Common | NONE |
| 12628R107 | CSBB | CSB BANCORP | $3.3M | 1.06% | 67,000 | Common | SOLE |
| 01446U103 | ALRS | ALERUS FINAN | $3.3M | 1.04% | 148,000 | Common | NONE |
| 29272W109 | ENR | ENERGIZER HLDNG | $3.2M | 1.01% | 126,908 | Common | NONE |
| 531229aq5 | — | LIBERTY MEDIA | $3.1M | 0.99% | 2,350,000 | Common | NONE |
| 588538108 | MFGI | MERCHANTS FINL | $3.0M | 0.96% | 111,900 | Common | SOLE |
| 40416E103 | HCI | HCI GROUP INC | $2.9M | 0.94% | 15,292 | Common | NONE |
| 92189F643 | MOAT | VE WIDE MOAT | $2.8M | 0.89% | 28,028 | Common | NONE |
| 529043101 | LXPUSD | LXP INDUSTRIAL | $2.6M | 0.83% | 289,089 | Common | NONE |
| G7738W106 | SFL | SFL CORP LTD | $2.6M | 0.83% | 343,792 | Common | NONE |
| 013091103 | ACI | ALBERTSONS COS | $2.6M | 0.82% | 147,737 | Common | NONE |
| 026874784 | AIG | AMERICAN INTL | $2.6M | 0.82% | 32,800 | Common | SOLE |
| 03076K108 | ABCB | AMERIS BANCORP | $2.5M | 0.81% | 34,459 | Common | NONE |
| 26441cby0 | — | DUKE ENERGY | $2.3M | 0.73% | 2,145,000 | Common | NONE |
| 345370cz1 | — | FORD MOTOR CO | $2.3M | 0.73% | 2,270,000 | Common | NONE |
| 319835104 | FCCO | FIRST CMNTY SC | $2.2M | 0.69% | 76,500 | Common | SOLE |
| 30325F101 | FSBH | FSBH CORP | $2.1M | 0.67% | 210,000 | Common | SOLE |
| 26884U208 | EPR 5.75 PERP C | EPR PRPTY | $2.1M | 0.66% | 81,995 | Common | SOLE |
| N20944109 | CNH | CNH INDUSTRIAL | $1.9M | 0.60% | 173,063 | Common | NONE |
| 00206R102 | T | AT&T INC | $1.8M | 0.58% | 64,856 | Common | SOLE |
| 92189F106 | GDX | VE GOLD MINERS | $1.8M | 0.58% | 23,657 | Common | NONE |
| 29786aal0 | — | ETSY INC BOND | $1.8M | 0.57% | 1,940,000 | Common | NONE |
| 03209rab9 | — | AMPHASTAR PHARMA | $1.8M | 0.57% | 1,965,000 | Common | NONE |
| 665531aj8 | — | NORTHERN OIL | $1.6M | 0.51% | 1,610,000 | Common | NONE |
| 009066ab7 | — | AIRBNB INC BOND | $1.6M | 0.51% | 1,630,000 | Common | NONE |
| 695127aj9 | — | PACIRA BIOSCIENCE | $1.5M | 0.48% | 1,495,000 | Common | NONE |
| 902494103 | TSN | TYSON FOODS | $1.5M | 0.47% | 27,251 | Common | SOLE |
| 501812ab7 | — | LCI INDS CONV | $1.4M | 0.45% | 1,482,000 | Common | NONE |
| 711040105 | PFIS | PEOPLES FIN SERV | $1.4M | 0.43% | 27,948 | Common | NONE |
| 806857108 | SLB | SCHLUMBERGER | $1.3M | 0.43% | 38,952 | Common | NONE |
| 922908363 | VOO | VGRD S&P 500 | $1.3M | 0.42% | 2,152 | Common | NONE |
| 317585404 | FISI | FINANCIAL INST | $1.3M | 0.42% | 48,328 | Common | SOLE |
| 05990K106 | BANC | BANC CALIFORNIA | $1.3M | 0.42% | 78,750 | Common | SOLE |
| 83441Q105 | SOBS | SOLVAY BANK | $1.2M | 0.38% | 40,065 | Common | SOLE |
| 405024ad2 | — | HAEMONETICS CORP | $1.1M | 0.34% | 1,160,000 | Common | NONE |
| 018802ac2 | — | ALLIANT ENERGY | $1.0M | 0.33% | 965,000 | Common | NONE |
| 85571bba2 | — | STARWOOD PPTY | $988,295 | 0.31% | 935,000 | Common | NONE |
| 95766R104 | WIW | WESTERN OPP FUND | $923,598 | 0.29% | 103,892 | Common | NONE |
| 594918954 | — | MICROSOFT CORP | $879,997 | 0.28% | 1,699 | PUT | NONE |
| 594918104 | MSFT | MICROSOFT CORP | $879,997 | 0.28% | 1,699 | Common | NONE |
| 46131M106 | VGM | INVESCO MUNI | $871,507 | 0.28% | 86,117 | Common | NONE |
| 68389X105 | ORCL | ORACLE CORP | $843,720 | 0.27% | 3,000 | Common | NONE |
| 46138E354 | SPLV | SPDR PORT SP 500 | $795,151 | 0.25% | 10,150 | Common | NONE |
| 17316V104 | CZBT | CITIZENS BANC VA | $781,918 | 0.25% | 24,550 | Common | SOLE |
| 928298ar9 | — | VISHAY INTERT | $771,877 | 0.25% | 850,000 | Common | NONE |
| 410120109 | HWC | HANCOCK WHITNEY | $682,328 | 0.22% | 10,898 | Common | NONE |
| 401617af2 | — | GUESS INC | $673,363 | 0.21% | 680,000 | Common | NONE |
| 084670702 | BRK/B | BERKSHIRE HATHA | $668,644 | 0.21% | 1,330 | Common | NONE |
| 55261F104 | MTB | M&T BANK CORP | $639,957 | 0.20% | 3,238 | Common | NONE |
| 30040W108 | ES | EVERSOURCE | $622,262 | 0.20% | 8,747 | Common | NONE |
| 459506101 | IFF | INTL FLAVORS | $603,150 | 0.19% | 9,801 | Common | NONE |
| 840441109 | SSBUSD | SOUTHSTATE CORP | $562,324 | 0.18% | 5,688 | Common | NONE |
| 974637af7 | — | WINNEBAGO INDS | $509,010 | 0.16% | 570,000 | Common | NONE |
| 464287663 | IUSV | IS S&P US VALUE | $454,773 | 0.14% | 4,550 | Common | NONE |
| 464288778 | IAT | ISHARES US REGIO | $451,758 | 0.14% | 8,600 | Common | SOLE |
| 00287Y109 | ABBV | ABBVIE INC | $443,399 | 0.14% | 1,915 | Common | NONE |
| 011532108 | AGI | ALAMOS GOLD | $403,749 | 0.13% | 11,582 | Common | NONE |
| 33736Q104 | QABA | FT NAS CMTY BNK | $391,693 | 0.12% | 6,976 | Common | NONE |
| 46625H100 | JPM | JPMORGAN CHASE | $374,731 | 0.12% | 1,188 | Common | NONE |
| 084680107 | BBT | BEACON FINANCIAL | $354,630 | 0.11% | 14,957 | Common | SOLE |
| 501044101 | KR | KROGER CO COM | $347,951 | 0.11% | 5,162 | Common | NONE |
| G21810109 | CLVT | CLARIVATE PLC | $335,462 | 0.11% | 87,588 | Common | NONE |
| 78462F103 | SPY | SPDR S&P 500 | $334,357 | 0.11% | 502 | Common | NONE |
| 811707801 | SBCF | SEACOAST BANKIN | $329,444 | 0.10% | 10,826 | Common | NONE |
| 02079K305 | GOOGL | ALPHABET INC | $312,384 | 0.10% | 1,285 | Common | NONE |
| 70509vaa8 | — | PEBBLEBRK HOTEL | $295,647 | 0.09% | 300,000 | Common | NONE |
| 83056P715 | SKE | SKEENA | $267,235 | 0.09% | 14,500 | Common | NONE |
| 315948109 | FBTC | FIDELITY WISEBTC | $255,021 | 0.08% | 2,555 | Common | NONE |
| 023135106 | AMZN | AMAZON.COM | $252,945 | 0.08% | 1,152 | Common | NONE |
| 46090E103 | QQQ | INV QQQ TRUST | $215,657 | 0.07% | 359 | Common | NONE |
| 353525108 | FRAF | FRANKLIN FINANC | $202,400 | 0.06% | 4,400 | Common | NONE |
| 012653200 | ALB 7.25 03/01/27 | ALBEMARLE CORP | $194,135 | 0.06% | 5,125 | Common | NONE |
| G51502105 | JCI | JOHNSON CONTROL | $190,433 | 0.06% | 1,732 | Common | NONE |
| 459200101 | IBM | INTL BUS MACHINE | $172,400 | 0.05% | 611 | Common | NONE |
| 78463V107 | GLD | SPDR GOLD TRUST | $162,094 | 0.05% | 456 | Common | NONE |
| 26942G100 | EBMT | EAGLE BANCORP | $155,430 | 0.05% | 9,000 | Common | NONE |
| 26441C204 | DUK | DUK ENRGY | $150,851 | 0.05% | 1,219 | Common | NONE |
| 30231G102 | XOM | EXXON MOBIL | $145,786 | 0.05% | 1,293 | Common | NONE |
| 874039100 | TSM | TAIWAN SEMICOND | $140,762 | 0.04% | 504 | Common | NONE |
| 808524805 | SCHF | SCHWAB INTL EQUI | $139,680 | 0.04% | 6,000 | Common | NONE |
| 92189F122 | MOTG | VE GLBL WIDE MT | $131,611 | 0.04% | 2,925 | Common | NONE |
| 422704106 | HL | HECLA MINING CO | $127,050 | 0.04% | 10,500 | Common | NONE |
| 40637had1 | — | HALOZYME THERAP | $125,813 | 0.04% | 110,000 | Common | NONE |
| 393657am3 | — | GREENBRIER COS | $125,237 | 0.04% | 117,000 | Common | NONE |
| 464287473 | IWS | IS RUS MID VALU | $123,748 | 0.04% | 886 | Common | NONE |
| 842587107 | SO | SOUTHERN CO | $112,208 | 0.04% | 1,184 | Common | NONE |
| 46137V357 | RSP | INVESCO S&P 500 | $106,232 | 0.03% | 560 | Common | NONE |
| 548661107 | LOW | LOWE'S COS INC | $105,550 | 0.03% | 420 | Common | NONE |
| 30303M102 | META | META PLATFORMS | $103,548 | 0.03% | 141 | Common | NONE |
| 037833950 | — | APPLE INC | $73,842 | 0.02% | 290 | PUT | NONE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.