Cutler Capital Management, LLC

Q3 2025 13F-HR Holdings

Location
Worcester, MA
Holdings as of
9/30/2025
Date filed
11/14/2025
Form type
13F-HR
Num holdings
124
Total value ($000)
$313,771
Net value change ($000)
+26,366 (9.2%)
New positions
8
Sold out positions
5
Turnover %
4.1%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/13/2025 Next filing: 2/13/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
AEM 4,959 31.7%
XRN 3,353 NEW
ENR 893 39.4%
SPLV 795 NEW
VZ 725 18.9%
MFGI 658 28.0%
EXSR 658 8.2%
FXNC 650 16.5%
FMBM 646 22.5%
MOAT 615 28.4%
Top Reduces (Value $000, Stocks/ETFs)
XRN -3,277 -100.0%
ES -952 -60.5%
ET -934 -13.1%
SPYM -738 -100.0%
GTLS -713 -100.0%
BANC -604 -100.0%
CNH INDL N V -371 -16.5%
ACI -310 -10.7%
CTO -243 -2.2%
SOBS -242 -17.0%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 954 (0.3% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type