SEC 13F Intelligence

Managers / Q4 2024 · view latest →

Cutler Capital Management, LLC

CIK 0001353098 · 306 MAIN STREET, WORCESTER, MA, 01608 · 508-757-4455

Reported Value
$287M
Q4 2024
Positions
117
Filings on Record
34
2019–present window
Filed
Feb 13, 2025
amendment (RESTATEMENT)

Summary

Cutler Capital Management, LLC reported $287M in U.S.-listed holdings across 117 positions for Q4 2024.

Its largest position, MET, represents 4.7% of the portfolio.

Compared with Q3 2024, the fund opened 12 new positions and exited 6.

Portfolio Metrics

Turnover
+7.9%
vs prior filed quarter
Top-10 Concentration
+30.6%
share of reported value
Largest Position
+4.7%
Metlife
New / Exited
12 / 6
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $441MQ4 ’18Q1 ’19: $242MQ2 ’19: $248MQ3 ’19: $289MQ4 ’19: $284MQ4 ’19Q1 ’20: $198MQ2 ’20: $186MQ3 ’20: $184MQ4 ’20: $230MQ4 ’20Q1 ’21: $249MQ2 ’21: $261MQ3 ’21: $265MQ4 ’21: $275MQ4 ’21Q1 ’22: $281MQ2 ’22: $259MQ3 ’22: $216MQ4 ’22: $243MQ4 ’22Q1 ’23: $224MQ2 ’23: $213MQ3 ’23: $222MQ4 ’23: $241MQ4 ’23Q1 ’24: $254MQ2 ’24: $256MQ3 ’24: $283MQ4 ’24: $287MQ4 ’24Q1 ’25: $288MQ2 ’25: $287MQ3 ’25: $314MQ4 ’25: $343MQ4 ’25Q1 ’26: $370Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 54.4%Other: 26.8%REIT: 7.8%ETP: 4.2%MLP: 3.0%Other: 3.8%
  • Common Stock · 54.4% · $156M
  • Other · 26.8% · $77M
  • REIT · 7.8% · $22M
  • ETP · 4.2% · $12M
  • MLP · 3.0% · $9M
  • Other · 3.8% · $11M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CTO REALTYNEW+6.05M6.05M+$8M$8M
CWBCCMNTY WST BANCNEW+162.1K162.1K+$3M$3M
GUESS INCNEW+2.76M2.76M+$3M$3M
VISHAY INTERTNEW+865.0K865.0K+$772,013$772,013
INNOVIVA INCNEW+600.0K600.0K+$563,640$563,640
ORCLORACLE CORPNEW+3.0K3.0K+$499,920$499,920
SLBSCHLUMBERGERNEW+8.9K8.9K+$341,226$341,226
VISHAY INTERTNEW+164.0K164.0K+$160,064$160,064

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2024

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1METMETLIFE INChistory →COM4.73%$14M165.9K
2AEMAGNICO-EAGLEhistory →COM3.85%$11M141.4K
3TSBKTIMBERLAND BANChistory →COM3.18%$9M299.0K
4ETENERGY TRANSFERhistory →PARTNERSHIP SHARES3.01%$9M441.5K
5CTO REALTYDEB2.91%$8M6.05M
6EXSREXCHANGE BANKhistory →COM2.87%$8M76.1K
7SBFGSB FINANCIALhistory →COM2.86%$8M392.6K
8FBIZFIRST BUSINESShistory →COM2.47%$7M153.2K
9SHELSHELL PLChistory →ADR SHARES2.42%$7M110.8K
10PPL CAPITALDEB2.34%$7M6.43M
11PFEPFIZER INChistory →COM2.28%$7M246.9K
12BUNGE LIMITEDCOM2.23%$6M82.2K
13PKBKPARKE BANCORPhistory →COM2.21%$6M308.9K
14FIDELITY CVNGTNCOM2.19%$6M263.9K
15JAZZ INVESTDEB2.04%$6M5.78M
16VTRSVIATRIS INChistory →COM2.02%$6M465.9K
17MRKMERCK&CO INChistory →COM2.01%$6M58.0K
18KIMCO REALTYPFD1.92%$6M91.6K
19LFGPLEDYARD FINANhistory →COM1.75%$5M326.6K
20VICIVICI PRPTYhistory →COM1.67%$5M164.0K
21FXNCFIRST NATL VAhistory →COM1.62%$5M202.8K
22BMBNBENCHMARK BANKhistory →COM1.49%$4M166.9K
23WYWEYERHAEUSERhistory →COM1.49%$4M151.7K
24INNOVIVA INCDEB1.45%$4M3.81M
25APLEAPPLE HOPTLYhistory →COM1.44%$4M269.0K
26FLAGSTAR FNCLPFD1.29%$4M98.3K
27CNH INDUSTRIALCOM1.28%$4M325.2K
28SFL CORP LTDCOM1.24%$4M349.7K
29CTOCTO REALTY GROWhistory →COM1.23%$4M179.8K
30GMREUSDGLOBAL MEDICALhistory →COM1.21%$3M450.3K
31BACVERIZON COMMhistory →COM1.21%$3M86.8K
32BORTBANK BOTETOURThistory →COM1.17%$3M104.5K
33CPKFCHESPKE FINANhistory →COM1.16%$3M173.0K
34HCI GROUP INCDEB1.11%$3M2.08M
35CWBCCMNTY WST BANChistory →COM1.09%$3M162.1K
36ENRENERGIZER HLDNGhistory →COM1.07%$3M88.4K
37PTBSPOTOMAC BANChistory →COM1.07%$3M195.1K
38ALRSALERUS FINANhistory →COM1.06%$3M159.0K
39LIBERTY MEDIADEB1.05%$3M2.46M
40FMBMF&M BANK CORPCOM0.94%$3M133.9K
41CSBBCSB BANCORPCOM0.94%$3M70.5K
42ACIALBERTSONS COSCOM0.91%$3M133.1K
43GUESS INCDEB0.91%$3M2.76M
44AIGAMERICAN INTLCOM0.83%$2M32.6K
45MFGIMERCHANTS FINLCOM0.82%$2M93.7K
46FORD MOTOR CODEB0.79%$2M2.35M
47DUKE ENERGYDEB0.77%$2M2.15M
48LXP INDUSTRIALCOM0.76%$2M267.5K
49ABCBAMERIS BANCORPCOM0.74%$2M34.0K
50VE WIDE MOATCOM0.71%$2M22.1K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$370M116May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$343M122Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$314M124Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$287M116Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$288M117May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$287M117Feb 13, 2025RESTATEMENTchanges · EDGAR ↗
Q3 2024$283M111Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024$256M111Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$254M109May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$241M106Feb 13, 202413F-HRchanges · EDGAR ↗
Q3 2023$222M111Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$213M101Aug 15, 2023RESTATEMENTchanges · EDGAR ↗
Q1 2023$224M104May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$243M107Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$216M102Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$259M108Aug 11, 202213F-HRchanges · EDGAR ↗
Q1 2022$281M112May 11, 202213F-HRchanges · EDGAR ↗
Q4 2021$275M106Feb 9, 202213F-HRchanges · EDGAR ↗
Q3 2021$265M109Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$261M103Aug 4, 202113F-HRchanges · EDGAR ↗
Q1 2021$249M103Apr 22, 202113F-HRchanges · EDGAR ↗
Q4 2020$230M89Jan 28, 202113F-HRchanges · EDGAR ↗
Q3 2020$184M89Nov 5, 202013F-HRchanges · EDGAR ↗
Q2 2020$186M88Aug 12, 202013F-HRchanges · EDGAR ↗
Q1 2020$198M100May 12, 202013F-HRchanges · EDGAR ↗
Q4 2019$284M110Feb 10, 202013F-HRchanges · EDGAR ↗
Q3 2019$289M116Nov 8, 201913F-HRchanges · EDGAR ↗
Q2 2019$248M98Aug 8, 201913F-HRchanges · EDGAR ↗
Q1 2019$242M94Apr 30, 201913F-HRchanges · EDGAR ↗
Q4 2018REVEALED$441M181Jan 25, 2019RESTATEMENTchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.