Q3 2025 · 13F-HR
CUTLER INVESTMENT COUNSEL LLCholdings as filed
Filed 2025-11-04 · accession 0002085853-25-000222
$953.8M
Reported value
140
Positions
2025-09-30
Period end
The Brief · CUTLER INVESTMENT COUNSEL LLC · Q3 2025
AI · grounded in 13F
CUTLER INVESTMENT COUNSEL LLC established a new position in VO valued at $46.5M. The fund also initiated new holdings in IGSB for $43.1M and IEFA for $42.8M. Other new additions include SPEM at $37.6M and MSFT at $35.9M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 922908629 | VO | VANGUARD INDEX FDS | $46.5M | 4.87% | 157,726 | Common | SOLE |
| 464288646 | IGSB | ISHARES TR | $43.1M | 4.51% | 812,018 | Common | SOLE |
| 46432F842 | IEFA | ISHARES TR | $42.8M | 4.48% | 489,758 | Common | SOLE |
| 78463X509 | SPEM | SPDR INDEX SHS FDS | $37.6M | 3.94% | 803,495 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $35.9M | 3.77% | 69,333 | Common | SOLE |
| 46641Q134 | JIRE | J P MORGAN EXCHANGE TRADED F | $32.7M | 3.43% | 444,745 | Common | SOLE |
| 464287671 | IUSG | ISHARES TR | $32.4M | 3.40% | 197,105 | Common | SOLE |
| 149123101 | CAT | CATERPILLAR INC | $29.1M | 3.05% | 60,916 | Common | SOLE |
| 922908736 | VUG | VANGUARD INDEX FDS | $28.5M | 2.99% | 59,424 | Common | SOLE |
| 78464A649 | SPAB | SPDR SERIES TRUST | $27.6M | 2.89% | 1,065,835 | Common | SOLE |
| 46429B267 | GOVT | ISHARES TR | $24.4M | 2.56% | 1,054,891 | Common | SOLE |
| 931142103 | WMT | WALMART INC | $23.5M | 2.46% | 227,561 | Common | SOLE |
| 464287804 | IJR | ISHARES TR | $22.9M | 2.41% | 193,104 | Common | SOLE |
| 09290D101 | BLK | BLACKROCK INC | $21.2M | 2.23% | 18,211 | Common | SOLE |
| 75513E101 | RTX | RTX CORPORATION | $19.9M | 2.09% | 119,184 | Common | SOLE |
| 437076102 | HD | HOME DEPOT INC | $19.6M | 2.06% | 48,389 | Common | SOLE |
| 808513105 | SCHW | SCHWAB CHARLES CORP | $18.6M | 1.95% | 195,145 | Common | SOLE |
| 760759100 | RSG | REPUBLIC SVCS INC | $18.5M | 1.94% | 80,711 | Common | SOLE |
| 580135101 | MCD | MCDONALDS CORP | $15.9M | 1.67% | 52,311 | Common | SOLE |
| 244199105 | DE | DEERE & CO | $15.4M | 1.62% | 33,621 | Common | SOLE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $15.1M | 1.58% | 47,860 | Common | SOLE |
| 30231G102 | XOM | EXXON MOBIL CORP | $13.9M | 1.45% | 123,003 | Common | SOLE |
| 459200101 | IBM | INTERNATIONAL BUSINESS MACHS | $12.3M | 1.29% | 43,709 | Common | SOLE |
| 501044101 | KR | KROGER CO | $12.2M | 1.28% | 181,495 | Common | SOLE |
| G5960L103 | MDT | MEDTRONIC PLC | $11.5M | 1.21% | 120,113 | Common | SOLE |
| 46137V266 | RPG | INVESCO EXCHANGE TRADED FD T | $11.1M | 1.16% | 231,765 | Common | SOLE |
| 166764100 | CVX | CHEVRON CORP NEW | $11.0M | 1.15% | 70,525 | Common | SOLE |
| 882508104 | TXN | TEXAS INSTRS INC | $10.8M | 1.14% | 59,012 | Common | SOLE |
| 92343V104 | VZ | VERIZON COMMUNICATIONS INC | $10.7M | 1.12% | 242,891 | Common | SOLE |
| 65339F101 | NEE | NEXTERA ENERGY INC | $10.4M | 1.09% | 138,127 | Common | SOLE |
| 78464A854 | SPYM | SPDR SERIES TRUST | $10.3M | 1.08% | 131,302 | Common | SOLE |
| 126650100 | CVS | CVS HEALTH CORP | $9.9M | 1.03% | 130,856 | Common | SOLE |
| 478160104 | JNJ | JOHNSON & JOHNSON | $9.5M | 1.00% | 51,378 | Common | SOLE |
| 742718109 | PG | PROCTER AND GAMBLE CO | $9.5M | 1.00% | 61,797 | Common | SOLE |
| 693475105 | PNC | PNC FINL SVCS GROUP INC | $9.2M | 0.97% | 45,984 | Common | SOLE |
| 14448C104 | CARR | CARRIER GLOBAL CORPORATION | $9.1M | 0.95% | 151,946 | Common | SOLE |
| 464287200 | IVV | ISHARES TR | $8.8M | 0.93% | 13,213 | Common | SOLE |
| 922042718 | VSS | VANGUARD INTL EQUITY INDEX F | $8.4M | 0.88% | 58,685 | Common | SOLE |
| 92189H300 | EMLC | VANECK ETF TRUST | $8.4M | 0.88% | 327,602 | Common | SOLE |
| 713448108 | PEP | PEPSICO INC | $8.3M | 0.87% | 58,871 | Common | SOLE |
| 075887109 | BDX | BECTON DICKINSON & CO | $8.1M | 0.85% | 43,287 | Common | SOLE |
| 55261F104 | MTB | M & T BK CORP | $7.9M | 0.83% | 40,115 | Common | SOLE |
| 26614N102 | DD | DUPONT DE NEMOURS INC | $7.9M | 0.83% | 101,285 | Common | SOLE |
| 58933Y105 | MRK | MERCK & CO INC | $7.8M | 0.82% | 92,001 | Common | SOLE |
| 46434V647 | REET | ISHARES TR | $7.6M | 0.80% | 297,254 | Common | SOLE |
| 46429B689 | EFAV | ISHARES TR | $7.4M | 0.78% | 87,255 | Common | SOLE |
| 921937819 | BIV | VANGUARD BD INDEX FDS | $7.1M | 0.74% | 90,288 | Common | SOLE |
| 654106103 | NKE | NIKE INC | $6.7M | 0.70% | 95,475 | Common | SOLE |
| 922908769 | VTI | VANGUARD INDEX FDS | $6.6M | 0.69% | 20,087 | Common | SOLE |
| 037833100 | AAPL | APPLE INC | $6.2M | 0.65% | 24,403 | Common | SOLE |
| 922908744 | VTV | VANGUARD INDEX FDS | $6.1M | 0.64% | 32,648 | Common | SOLE |
| 78409V104 | SPGI | S&P GLOBAL INC | $5.7M | 0.60% | 11,772 | Common | SOLE |
| 921943858 | VEA | VANGUARD TAX-MANAGED FDS | $5.6M | 0.59% | 93,982 | Common | SOLE |
| 808524607 | SCHA | SCHWAB STRATEGIC TR | $5.1M | 0.53% | 181,732 | Common | SOLE |
| 46138E735 | PDN | INVESCO EXCH TRADED FD TR II | $4.6M | 0.48% | 111,615 | Common | SOLE |
| 808524797 | SCHD | SCHWAB STRATEGIC TR | $4.4M | 0.46% | 160,987 | Common | SOLE |
| 717081103 | PFE | PFIZER INC | $4.3M | 0.45% | 169,404 | Common | SOLE |
| 922042858 | VWO | VANGUARD INTL EQUITY INDEX F | $3.9M | 0.41% | 71,842 | Common | SOLE |
| 526057104 | LEN | LENNAR CORP | $3.4M | 0.35% | 26,662 | Common | SOLE |
| 74348A467 | NOBL | PROSHARES TR | $3.3M | 0.35% | 32,215 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $2.9M | 0.30% | 13,023 | Common | SOLE |
| 084670702 | BRK/B | BERKSHIRE HATHAWAY INC DEL | $2.7M | 0.28% | 5,377 | Common | SOLE |
| 22160K105 | COST | COSTCO WHSL CORP NEW | $2.7M | 0.28% | 2,873 | Common | SOLE |
| 60510V108 | AVO | MISSION PRODUCE INC | $2.6M | 0.27% | 212,750 | Common | SOLE |
| 922042742 | VT | VANGUARD INTL EQUITY INDEX F | $2.5M | 0.27% | 18,406 | Common | SOLE |
| 808524748 | FNDC | SCHWAB STRATEGIC TR | $2.3M | 0.24% | 52,360 | Common | SOLE |
| 921937835 | BND | VANGUARD BD INDEX FDS | $2.3M | 0.24% | 30,540 | Common | SOLE |
| 922908553 | VNQ | VANGUARD INDEX FDS | $2.2M | 0.24% | 24,586 | Common | SOLE |
| 808524763 | FNDA | SCHWAB STRATEGIC TR | $2.1M | 0.22% | 68,495 | Common | SOLE |
| 808524755 | FNDF | SCHWAB STRATEGIC TR | $1.9M | 0.20% | 44,450 | Common | SOLE |
| 808524201 | SCHX | SCHWAB STRATEGIC TR | $1.9M | 0.20% | 72,007 | Common | SOLE |
| 92206C409 | VCSH | VANGUARD SCOTTSDALE FDS | $1.8M | 0.19% | 22,912 | Common | SOLE |
| 921908844 | VIG | VANGUARD SPECIALIZED FUNDS | $1.8M | 0.19% | 8,436 | Common | SOLE |
| 02079K107 | GOOG | ALPHABET INC | $1.8M | 0.19% | 7,275 | Common | SOLE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $1.6M | 0.17% | 2,367 | Common | SOLE |
| 084670108 | BRK/A | BERKSHIRE HATHAWAY INC DEL | $1.5M | 0.16% | 2 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $1.3M | 0.13% | 6,817 | Common | SOLE |
| 88160R101 | TSLA | TESLA INC | $1.2M | 0.12% | 2,612 | Common | SOLE |
| 922907746 | VTEB | VANGUARD MUN BD FDS | $1.1M | 0.12% | 22,944 | Common | SOLE |
| 808524730 | FNDE | SCHWAB STRATEGIC TR | $1.1M | 0.11% | 29,075 | Common | SOLE |
| 92203J407 | BNDX | VANGUARD CHARLOTTE FDS | $1.0M | 0.11% | 20,814 | Common | SOLE |
| 92204A702 | VGT | VANGUARD WORLD FD | $1.0M | 0.11% | 1,374 | Common | SOLE |
| 78463V107 | GLD | SPDR GOLD TR | $947,684 | 0.10% | 2,666 | Common | SOLE |
| 46090E103 | QQQ | INVESCO QQQ TR | $921,267 | 0.10% | 1,533 | Common | SOLE |
| 808524839 | SCHZ | SCHWAB STRATEGIC TR | $912,724 | 0.10% | 38,889 | Common | SOLE |
| 855244109 | SBUX | STARBUCKS CORP | $847,706 | 0.09% | 10,020 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $845,024 | 0.09% | 3,476 | Common | SOLE |
| 00287Y109 | ABBV | ABBVIE INC | $817,568 | 0.09% | 3,531 | Common | SOLE |
| 03073E105 | COR | CENCORA INC | $766,012 | 0.08% | 2,451 | Common | SOLE |
| 548661107 | LOW | LOWES COS INC | $760,842 | 0.08% | 3,028 | Common | SOLE |
| 949746101 | WMT2 | WELLS FARGO CO NEW | $700,652 | 0.07% | 8,359 | Common | SOLE |
| 464288273 | SCZ | ISHARES TR | $666,851 | 0.07% | 8,692 | Common | SOLE |
| 00326A104 | SGOL | ETFS GOLD TR | $610,531 | 0.06% | 16,586 | Common | SOLE |
| 921946406 | VYM | VANGUARD WHITEHALL FDS | $607,495 | 0.06% | 4,310 | Common | SOLE |
| 655844108 | NSC | NORFOLK SOUTHN CORP | $603,224 | 0.06% | 2,008 | Common | SOLE |
| 464288281 | EMB | ISHARES TR | $576,376 | 0.06% | 6,055 | Common | SOLE |
| 744573106 | PEG | PUBLIC SVC ENTERPRISE GRP IN | $564,858 | 0.06% | 6,768 | Common | SOLE |
| 81369Y886 | XLU | SELECT SECTOR SPDR TR | $533,638 | 0.06% | 6,119 | Common | SOLE |
| 46428Q109 | SLV | ISHARES SILVER TR | $520,558 | 0.05% | 12,286 | Common | SOLE |
| 464287507 | IJH | ISHARES TR | $503,025 | 0.05% | 7,708 | Common | SOLE |
| 921910725 | VSGX | VANGUARD WORLD FD | $466,375 | 0.05% | 6,723 | Common | SOLE |
| 291011104 | EMR | EMERSON ELEC CO | $465,689 | 0.05% | 3,550 | Common | SOLE |
| 64110L106 | NFLX | NETFLIX INC | $463,983 | 0.05% | 387 | Common | SOLE |
| 922908652 | VXF | VANGUARD INDEX FDS | $444,220 | 0.05% | 2,122 | Common | SOLE |
| 25434V708 | DFAC | DIMENSIONAL ETF TRUST | $442,591 | 0.05% | 11,475 | Common | SOLE |
| 74347X831 | TQQQ | PROSHARES TR | $420,518 | 0.04% | 4,067 | Common | SOLE |
| 17275R102 | CSCO | CISCO SYS INC | $419,141 | 0.04% | 6,126 | Common | SOLE |
| 808524805 | SCHF | SCHWAB STRATEGIC TR | $398,601 | 0.04% | 17,122 | Common | SOLE |
| 78463X889 | SPDW | SPDR INDEX SHS FDS | $394,225 | 0.04% | 9,213 | Common | SOLE |
| 231021106 | CMI | CUMMINS INC | $394,048 | 0.04% | 933 | Common | SOLE |
| 922908595 | VBK | VANGUARD INDEX FDS | $389,149 | 0.04% | 1,306 | Common | SOLE |
| 46438F101 | IBIT | ISHARES BITCOIN TRUST ETF | $387,920 | 0.04% | 5,968 | Common | SOLE |
| 11135F101 | AVGO | BROADCOM INC | $381,834 | 0.04% | 1,157 | Common | SOLE |
| 922908611 | VBR | VANGUARD INDEX FDS | $376,929 | 0.04% | 1,798 | Common | SOLE |
| 922908751 | VB | VANGUARD INDEX FDS | $373,700 | 0.04% | 1,465 | Common | SOLE |
| 011659109 | ALK | ALASKA AIR GROUP INC | $372,280 | 0.04% | 7,479 | Common | SOLE |
| 92826C839 | V | VISA INC | $362,572 | 0.04% | 1,062 | Common | SOLE |
| 464288810 | IHI | ISHARES TR | $351,228 | 0.04% | 5,846 | Common | SOLE |
| 922908363 | VOO | VANGUARD INDEX FDS | $332,904 | 0.03% | 542 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $332,689 | 0.03% | 453 | Common | SOLE |
| 922042676 | VNQI | VANGUARD INTL EQUITY INDEX F | $331,537 | 0.03% | 6,945 | Common | SOLE |
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $317,648 | 0.03% | 1,134 | Common | SOLE |
| 808524409 | SCHV | SCHWAB STRATEGIC TR | $316,630 | 0.03% | 10,877 | Common | SOLE |
| 464287226 | AGG | ISHARES TR | $313,482 | 0.03% | 3,127 | Common | SOLE |
| 92203C303 | VUSB | VANGUARD BD INDEX FDS | $313,269 | 0.03% | 6,266 | Common | SOLE |
| 718172109 | PM | PHILIP MORRIS INTL INC | $309,640 | 0.03% | 1,909 | Common | SOLE |
| 921910733 | ESGV | VANGUARD WORLD FD | $304,865 | 0.03% | 2,574 | Common | SOLE |
| 68389X105 | ORCL | ORACLE CORP | $304,583 | 0.03% | 1,083 | Common | SOLE |
| 387328107 | GVA | GRANITE CONSTR INC | $301,895 | 0.03% | 2,750 | Common | SOLE |
| 78464A409 | SPYG | SPDR SERIES TRUST | $288,135 | 0.03% | 2,757 | Common | SOLE |
| 46434G863 | ESGE | ISHARES INC | $287,441 | 0.03% | 6,620 | Common | SOLE |
| 72201R833 | MINT | PIMCO ETF TR | $285,255 | 0.03% | 2,833 | Common | SOLE |
| 025537101 | AEP | AMERICAN ELEC PWR CO INC | $270,675 | 0.03% | 2,406 | Common | SOLE |
| 780087102 | RY | ROYAL BK CDA | $270,333 | 0.03% | 1,835 | Common | SOLE |
| 37954Y632 | AIQ | GLOBAL X FDS | $259,199 | 0.03% | 5,248 | Common | SOLE |
| 46434G103 | IEMG | ISHARES INC | $236,324 | 0.02% | 3,585 | Common | SOLE |
| 055622104 | BP | BP PLC | $231,878 | 0.02% | 6,729 | Common | SOLE |
| 464287614 | IWF | ISHARES TR | $228,445 | 0.02% | 488 | Common | SOLE |
| 46138E743 | PXF | INVESCO EXCH TRADED FD TR II | $226,042 | 0.02% | 3,695 | Common | SOLE |
| 191216100 | KO | COCA COLA CO | $211,988 | 0.02% | 3,172 | Common | SOLE |
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.