Q4 2025 · 13F-HR
Cutler Capital Management, LLCholdings as filed
Filed 2026-02-13 · accession 0001353098-26-000002
$343.1M
Reported value
122
Positions
2025-12-31
Period end
The Brief · Cutler Capital Management, LLC · Q4 2025
AI · grounded in 13F
Cutler Capital Management, LLC established a new position in AAPL valued at $4.76M. The fund also increased its holdings in BBT by 362.5% and XRN by 55.9%. Offsetting these buys, the fund closed its positions in SPLV, GUESS INC, and SSBUSD.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 008474108 | AEM | AGNICO-EAGLE | $20.4M | 5.93% | 120,114 | Common | NONE |
| 59156R108 | MET | METLIFE INC | $13.1M | 3.82% | 166,126 | Common | NONE |
| 22948Q101 | CTO | CTO REALTY GRW | $12.2M | 3.56% | 663,543 | Common | NONE |
| 887098101 | TSBK | TIMBERLAND BANC | $10.4M | 3.04% | 291,802 | Common | NONE |
| 301227203 | EXSR | EXCHANGE BANK | $9.9M | 2.88% | 76,041 | Common | NONE |
| 78408D105 | SBFG | SB FINANCIAL | $8.7M | 2.54% | 390,982 | Common | NONE |
| 319390100 | FBIZ | FIRST BUSINESS | $8.4M | 2.43% | 153,785 | Common | SOLE |
| 780259305 | SHEL | SHELL PLC | $8.2M | 2.38% | 111,326 | Common | NONE |
| 700885106 | PKBK | PARKE BANCORP | $7.9M | 2.31% | 316,453 | Common | NONE |
| H11356104 | BG | BUNGE LIMITED | $7.1M | 2.07% | 79,920 | Common | NONE |
| 69352pas2 | — | PPL CAPITAL | $6.9M | 2.02% | 6,305,000 | Common | NONE |
| 316092402 | FENY | FIDELITY CVNGTN | $6.8M | 1.99% | 275,160 | Common | NONE |
| 472145af8 | — | JAZZ INVEST | $6.5M | 1.91% | 5,665,000 | Common | NONE |
| 45781mad3 | — | INNOVIVA INC | $6.5M | 1.89% | 6,375,000 | Common | NONE |
| 717081103 | PFE | PFIZER INC | $6.2M | 1.81% | 249,731 | Common | NONE |
| 58933Y105 | MRK | MERCK&CO INC | $6.2M | 1.80% | 58,532 | Common | NONE |
| 29273V100 | ET | ENERGY TRANSFER | $6.2M | 1.79% | 373,291 | Common | NONE |
| 08160E207 | BMBN | BENCHMARK BANK | $5.8M | 1.68% | 172,882 | Common | SOLE |
| 92556V106 | VTRS | VIATRIS INC | $5.7M | 1.66% | 457,572 | Common | NONE |
| 92343V104 | VZ | VERIZON COMM | $5.6M | 1.64% | 137,744 | Common | NONE |
| 49446r687 | — | KIMCO REALTY | $5.3M | 1.54% | 89,993 | Common | NONE |
| 925652109 | VICI | VICI PRPTY | $5.3M | 1.53% | 187,035 | Common | NONE |
| 37954A303 | XRN | GLOBAL MEDICAL | $5.2M | 1.52% | 155,022 | Common | NONE |
| 32106V107 | FXNC | FIRST NATL VA | $5.1M | 1.49% | 203,109 | Common | SOLE |
| 16517A109 | CPKF | CHESPKE FINAN | $5.0M | 1.47% | 178,500 | Common | SOLE |
| 523338101 | LFGP | LEDYARD FINAN | $5.0M | 1.47% | 336,121 | Common | NONE |
| 743312ad2 | — | PROGRESS SOFTWARE | $5.0M | 1.46% | 4,945,000 | Common | NONE |
| 531229ap7 | — | SIRIUS XM HLDNGS | $4.9M | 1.43% | 4,888,000 | Common | NONE |
| 063907208 | BORT | BANK BOTETOURT | $4.9M | 1.42% | 111,034 | Common | SOLE |
| 037833100 | AAPL | APPLE INC | $4.8M | 1.39% | 17,500 | PUT | NONE |
| 594918954 | — | MICROSOFT CORP | $4.4M | 1.27% | 90,000 | PUT | NONE |
| 737643106 | PTBS | POTOMAC BANC | $4.2M | 1.23% | 230,620 | Common | SOLE |
| 588538108 | MFGI | MERCHANTS FINL | $4.0M | 1.17% | 125,850 | Common | SOLE |
| 962166104 | WY | WEYERHAEUSER | $3.9M | 1.15% | 166,060 | Common | NONE |
| 30237P106 | FMBM | F&M BANK CORP | $3.9M | 1.13% | 135,864 | Common | SOLE |
| 203937107 | CWBC | CMNTY WST BANC | $3.7M | 1.07% | 162,829 | Common | NONE |
| 12628R107 | CSBB | CSB BANCORP | $3.6M | 1.05% | 67,000 | Common | SOLE |
| 03784Y200 | APLE | APPLE HOPTLY | $3.4M | 1.00% | 290,270 | Common | NONE |
| 64944p307 | — | FLAGSTAR FNCL | $3.4M | 0.99% | 85,179 | Common | NONE |
| 30325F101 | FSBH | FSBH CORP | $3.3M | 0.95% | 210,000 | Common | SOLE |
| 92189F643 | MOAT | VE WIDE MOAT | $3.2M | 0.92% | 30,598 | Common | NONE |
| 01446U103 | ALRS | ALERUS FINAN | $3.1M | 0.91% | 138,000 | Common | NONE |
| 531229aq5 | — | LIBERTY MEDIA | $3.0M | 0.87% | 2,350,000 | Common | NONE |
| 40416E103 | HCI | HCI GROUP INC | $2.9M | 0.85% | 15,293 | Common | NONE |
| 026874784 | AIG | AMERICAN INTL | $2.8M | 0.82% | 32,800 | Common | SOLE |
| 665531aj8 | — | NORTHERN OIL | $2.7M | 0.79% | 2,810,000 | Common | NONE |
| 529043101 | LXPUSD | LXP INDUSTRIAL | $2.7M | 0.78% | 54,226 | Common | NONE |
| G7738W106 | SFL | SFL CORP LTD | $2.6M | 0.76% | 334,392 | Common | NONE |
| 013091103 | ACI | ALBERTSONS COS | $2.5M | 0.73% | 146,712 | Common | NONE |
| 03076K108 | ABCB | AMERIS BANCORP | $2.5M | 0.72% | 33,459 | Common | NONE |
| 29272W109 | ENR | ENERGIZER HLDNG | $2.4M | 0.70% | 119,975 | Common | NONE |
| 319835104 | FCCO | FIRST CMNTY SC | $2.3M | 0.66% | 76,500 | Common | SOLE |
| 26441cby0 | — | DUKE ENERGY | $2.1M | 0.63% | 2,085,000 | Common | NONE |
| 92189F106 | GDX | VE GOLD MINERS | $2.0M | 0.58% | 23,387 | Common | NONE |
| 806857108 | SLB | SCHLUMBERGER | $1.9M | 0.55% | 49,452 | Common | NONE |
| 084680107 | BBT | BEACON FINANCIAL | $1.8M | 0.53% | 69,183 | Common | SOLE |
| 26884U208 | EPR 5.75 PERP C | EPR PRPTY | $1.8M | 0.53% | 81,995 | Common | SOLE |
| 03209rab9 | — | AMPHASTAR PHARMA | $1.8M | 0.53% | 1,965,000 | Common | NONE |
| 29786aal0 | — | ETSY INC BOND | $1.8M | 0.51% | 1,905,000 | Common | NONE |
| 345370cz1 | — | FORD MOTOR CO | $1.7M | 0.49% | 1,615,000 | Common | NONE |
| 922908363 | VOO | VGRD S&P 500 | $1.7M | 0.49% | 2,655 | Common | NONE |
| 902494103 | TSN | TYSON FOODS | $1.6M | 0.46% | 27,107 | Common | SOLE |
| 009066ab7 | — | AIRBNB INC BOND | $1.6M | 0.46% | 1,600,000 | Common | NONE |
| N20944109 | CNH | CNH INDUSTRIAL | $1.6M | 0.46% | 170,563 | Common | NONE |
| 00206R102 | T | AT&T INC | $1.5M | 0.45% | 62,356 | Common | SOLE |
| 317585404 | FISI | FINANCIAL INST | $1.5M | 0.45% | 49,428 | Common | SOLE |
| 05990K106 | BANC | BANC CALIFORNIA | $1.5M | 0.44% | 78,750 | Common | SOLE |
| 695127aj9 | — | PACIRA BIOSCIENCE | $1.5M | 0.44% | 1,495,000 | Common | NONE |
| 501812ab7 | — | LCI INDS CONV | $1.5M | 0.42% | 1,482,000 | Common | NONE |
| 711040105 | PFIS | PEOPLES FIN SERV | $1.4M | 0.41% | 28,748 | Common | NONE |
| 405024ad2 | — | HAEMONETICS CORP | $1.2M | 0.35% | 1,160,000 | Common | NONE |
| 83441Q105 | SOBS | SOLVAY BANK | $1.1M | 0.31% | 37,665 | Common | SOLE |
| 018802ac2 | — | ALLIANT ENERGY | $971,465 | 0.28% | 935,000 | Common | NONE |
| 85571bba2 | — | STARWOOD PPTY | $965,855 | 0.28% | 935,000 | Common | NONE |
| 46131M106 | VGM | INVESCO MUNI | $893,036 | 0.26% | 86,117 | Common | NONE |
| 95766R104 | WIW | WESTERN OPP FUND | $892,430 | 0.26% | 103,892 | Common | NONE |
| 17316V104 | CZBT | CITIZENS BANC VA | $849,915 | 0.25% | 25,250 | Common | SOLE |
| 78464A854 | SPYM | SPDR PORT SP 500 | $801,799 | 0.23% | 9,995 | Common | NONE |
| 594918104 | MSFT | MICROSOFT CORP | $796,039 | 0.23% | 1,646 | Common | NONE |
| 464288778 | IAT | ISHARES US REGIO | $772,100 | 0.23% | 14,000 | Common | SOLE |
| 928298ar9 | — | VISHAY INTERT | $762,875 | 0.22% | 850,000 | Common | NONE |
| 410120109 | HWC | HANCOCK WHITNEY | $693,989 | 0.20% | 10,898 | Common | NONE |
| 084670702 | BRK/B | BERKSHIRE HATHA | $668,525 | 0.19% | 1,330 | Common | NONE |
| 665531307 | NOG | NORTHERN OIL | $663,423 | 0.19% | 30,900 | Common | NONE |
| 55261F104 | MTB | M&T BANK CORP | $652,457 | 0.19% | 3,238 | Common | NONE |
| 459506101 | IFF | INTL FLAVORS | $646,468 | 0.19% | 9,593 | Common | NONE |
| 68389X105 | ORCL | ORACLE CORP | $584,730 | 0.17% | 3,000 | Common | NONE |
| 84472E102 | SSB | SOUTHSTATE CORP | $538,608 | 0.16% | 5,723 | Common | NONE |
| 974637af7 | — | WINNEBAGO INDS | $534,375 | 0.16% | 570,000 | Common | NONE |
| 33736Q104 | QABA | FT NAS CMTY BNK | $486,564 | 0.14% | 8,587 | Common | NONE |
| 464287663 | IUSV | IS S&P US VALUE | $466,557 | 0.14% | 4,550 | Common | NONE |
| 30040W108 | ES | EVERSOURCE | $454,276 | 0.13% | 6,747 | Common | NONE |
| 011532108 | AGI | ALAMOS GOLD | $440,661 | 0.13% | 11,422 | Common | NONE |
| 00287Y109 | ABBV | ABBVIE INC | $437,558 | 0.13% | 1,915 | Common | NONE |
| 46625H100 | JPM | JPMORGAN CHASE | $382,797 | 0.11% | 1,188 | Common | NONE |
| 02079K305 | GOOGL | ALPHABET INC | $359,011 | 0.10% | 1,147 | Common | NONE |
| 811707801 | SBCF | SEACOAST BANKIN | $340,162 | 0.10% | 10,826 | Common | NONE |
| 78462F103 | SPY | SPDR S&P 500 | $336,298 | 0.10% | 493 | Common | NONE |
| 83056P715 | SKE | SKEENA | $327,593 | 0.10% | 13,805 | Common | NONE |
| 501044101 | KR | KROGER CO COM | $322,061 | 0.09% | 5,155 | Common | NONE |
| 012653200 | ALB 7.25 03/01/27 | ALBEMARLE CORP | $304,374 | 0.09% | 5,125 | Common | NONE |
| 70509vaa8 | — | PEBBLEBRK HOTEL | $289,500 | 0.08% | 300,000 | Common | NONE |
| 316092295 | FFSM | FIDELITY FNDMNTL | $248,129 | 0.07% | 8,085 | Common | NONE |
| 46090E103 | QQQ | INV QQQ TRUST | $236,666 | 0.07% | 385 | Common | NONE |
| 023135106 | AMZN | AMAZON.COM | $231,974 | 0.07% | 1,005 | Common | NONE |
| 353525108 | FRAF | FRANKLIN FINANC | $220,880 | 0.06% | 4,400 | Common | NONE |
| 422704106 | HL | HECLA MINING CO | $191,900 | 0.06% | 10,000 | Common | NONE |
| G51502105 | JCI | JOHNSON CONTROL | $185,613 | 0.05% | 1,550 | Common | NONE |
| 459200101 | IBM | INTL BUS MACHINE | $180,984 | 0.05% | 611 | Common | NONE |
| 78463V107 | GLD | SPDR GOLD TRUST | $180,717 | 0.05% | 456 | Common | NONE |
| 26942G100 | EBMT | EAGLE BANCORP | $179,100 | 0.05% | 9,000 | Common | NONE |
| 30231G102 | XOM | EXXON MOBIL | $155,600 | 0.05% | 1,293 | Common | NONE |
| 874039100 | TSM | TAIWAN SEMICOND | $153,161 | 0.04% | 504 | Common | NONE |
| 46428Q109 | SLV | ISHARES SILVER | $152,998 | 0.04% | 2,375 | Common | NONE |
| 26441C204 | DUK | DUK ENRGY | $138,659 | 0.04% | 1,183 | Common | NONE |
| 393657am3 | — | GREENBRIER COS | $125,693 | 0.04% | 117,000 | Common | NONE |
| 40637had1 | — | HALOZYME THERAP | $118,525 | 0.03% | 110,000 | Common | NONE |
| 02079K107 | GOOG | ALPHABET INC | $117,675 | 0.03% | 375 | Common | NONE |
| 92189F122 | MOTG | VE GLBL WIDE MT | $113,397 | 0.03% | 2,925 | Common | NONE |
| 46137V357 | RSP | INVESCO S&P 500 | $107,274 | 0.03% | 560 | Common | NONE |
| 548661107 | LOW | LOWE'S COS INC | $101,287 | 0.03% | 420 | Common | NONE |
| 06849F108 | B | BARRICK MNG | $101,254 | 0.03% | 2,325 | Common | 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.