13F HOLDINGS REPORT

Cutler Capital Management, LLC

Quarter ended Q2 2023 · Filed May 12, 2023 · Accession 0001353098-23-000004

Total Value

$224.3M

Positions

105

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (104)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	METLIFE	MET-PF	170,486	$9.9M	4.40%
2	MERCK	MRK	76,670	$8.2M	3.64%
3	TIMBERLAND BANK	TSBK	284,959	$7.7M	3.43%
4	EXCHANGE BANK	301227203	74,899	$7.6M	3.41%
5	BUNGE LIMITED	BG	73,206	$7.0M	3.12%
6	PFIZER	PFE	170,797	$7.0M	3.11%
7	AGNICO EAGLE	AEM	136,639	$7.0M	3.11%
8	LEDYARD FINANCIAL	523338101	329,229	$5.6M	2.50%
9	SB FINANCIAL	78408D105	396,298	$5.6M	2.50%
10	PARKE BANCORP	PKBK	301,388	$5.4M	2.39%
11	ENERGY TRANSFER MLP	ET-PI	411,847	$5.1M	2.29%
12	SHELL PLC	RYDAF	84,205	$4.8M	2.16%
13	INTL FLAVORS	459506101	51,492	$4.7M	2.11%
14	ENERGIZER	ENR	130,423	$4.5M	2.02%
15	WEYERHAEUSER	WY	149,836	$4.5M	2.01%
16	FIDELITY ENERGY ETF	316092402	201,181	$4.5M	2.01%
17	FIRST BUSINESS	319390100	145,425	$4.4M	1.98%
18	COMMUNITY WEST	CWBC	313,988	$4.0M	1.77%
19	CHESAPEAKE FINL	CPKF	172,500	$3.9M	1.76%
20	SFL CORP	SFL	3,715,000	$3.7M	1.64%
21	VIATRIS INC	VTRS	366,666	$3.5M	1.57%
22	NY COMM BANC	FLG-PU	88,495	$3.4M	1.53%
23	TYSON FOODS	TSN	56,288	$3.3M	1.49%
24	HARBOR CUSTOM	41150T207	581,050	$3.3M	1.45%
25	PRA GROUP	PRAA	3,255,000	$3.2M	1.44%
26	BENCHMARK BANK	BMBN	140,000	$3.2M	1.43%
27	RPT REALTY	74971D200	65,639	$3.1M	1.39%
28	FIRST NATIONAL	32106V107	197,039	$3.1M	1.39%
29	BANK BOTETOURT	063907208	100,344	$3.1M	1.37%
30	VERIZON	VZ	78,214	$3.0M	1.36%
31	VICI PRPTY	925652109	92,887	$3.0M	1.35%
32	GLOBAL MEDICAL	37954A204	325,247	$3.0M	1.32%
33	POTOMAC BANCSH	737643106	170,500	$2.9M	1.29%
34	F&M BANCORP	FMBM	133,914	$2.7M	1.19%
35	LXP INDUSTRIAL	LXP-PC	254,070	$2.6M	1.17%
36	CSB BANCORP	CSBB	67,500	$2.6M	1.14%
37	ALERUS FINAN	01446U103	154,661	$2.5M	1.11%
38	CAMBRIDGE BANC	132152109	37,652	$2.4M	1.09%
39	BLUE RIDGE BANK	BRBS	236,700	$2.4M	1.08%
40	NRG ENERGY	NRG	2,225,000	$2.3M	1.02%
41	AT&T INC	T-PC	114,013	$2.2M	0.98%
42	SOLVAY BANK	83441Q105	68,474	$2.1M	0.95%
43	ALBERTSONS	013091103	95,881	$2.0M	0.89%
44	MEDICAL PRTY	58463J304	241,129	$2.0M	0.88%
45	HCI GROUP	HCIIP	36,561	$2.0M	0.87%
46	MAIN STREET BANC	MNSBP	81,714	$1.9M	0.86%
47	FIRST NATL AK	32112J106	8,297	$1.7M	0.74%
48	AMERIS BANCORP	ABCB	44,888	$1.6M	0.73%
49	AMERICAN INTL	026874784	32,500	$1.6M	0.73%
50	FIRST COMMUNITY	319835104	76,500	$1.5M	0.68%
51	MERCHANTS FINAN	588538108	54,600	$1.5M	0.68%
52	FIRST NATIONAL	302578109	240,125	$1.5M	0.66%
53	FSBH CORP	30325F101	189,700	$1.4M	0.63%
54	ORRSTOWN FINL	687380105	69,943	$1.4M	0.62%
55	GREAT AJAX	38983D409	56,910	$1.4M	0.61%
56	INNOVIVA	INVA	1,405,000	$1.3M	0.60%
57	CTO REALTY	22948Q101	76,391	$1.3M	0.59%
58	READY CAPITAL	RC-PE	48,729	$1.2M	0.54%
59	APPLE HOSPITLITY	APLE	70,713	$1.1M	0.49%
60	EPR PROPERTIES	26884U208	57,750	$1.0M	0.46%
61	INTL BUS MACHINE	INTR	7,643	$1.0M	0.45%
62	EAGLE BANCORP	26942G100	70,000	$987,700	0.44%
63	FRANKLIN FINL	353525108	33,015	$978,573	0.44%
64	INVESCO TR INVT CEF	IVZ	86,117	$865,006	0.39%
65	LYFT INC	LYFT	885,000	$776,968	0.35%
66	FINANCIAL INST	317585404	40,000	$771,200	0.34%
67	VANECK VECTORS ETF	92189F643	10,339	$762,730	0.34%
68	TOTAL ENERGIES	TTE	12,266	$724,307	0.32%
69	MCHENRY BANCORP	580683209	28,000	$711,200	0.32%
70	ABBVIE	ABBV	4,000	$637,481	0.28%
71	FIRST LONG ISLAND	320734106	45,074	$608,504	0.27%
72	CITIZENS BANC	CIA	20,000	$590,000	0.26%
73	VANGUARD S&P 500 ETF	922908363	1,477	$555,420	0.25%
74	KEYCORP	493267108	39,895	$499,483	0.22%
75	VANECK VECTORS ETF	92189F106	14,453	$467,550	0.21%
76	BERKSHIRE HATH	BRK-A	1,336	$412,517	0.18%
77	BECTON DICKSON	BDX	1,599	$395,816	0.18%
78	SOUTH STATE	SSB	5,506	$392,347	0.17%
79	HANCOCK WHITNEY	HWCPZ	10,297	$374,805	0.17%
80	PACWEST BANC	695263202	25,300	$374,693	0.17%
81	DIGITALBRIDGE	DBRG-PJ	365,000	$365,000	0.16%
82	ISHARES CORE ETF	464287663	4,800	$354,144	0.16%
83	M&T BANK	55261F104	2,818	$336,968	0.15%
84	STARWOOD PRPTY	STHO	320,000	$319,995	0.14%
85	FIRST TRUST	33736Q104	7,394	$317,882	0.14%
86	LEGAND PHARMA	LGNZZ	300,000	$297,084	0.13%
87	BEYOND MEAT	BYND	1,250,000	$290,625	0.13%
88	SPDR S&P 500 ETF	SPY	695	$284,682	0.13%
89	HOPE BANCORP	HOPE	294,000	$284,445	0.13%
90	EZCORP	EZPW	245,000	$260,327	0.12%
91	SPOTIFY	84921RAB6	305,000	$255,285	0.11%
92	SEACOAST BANKING	SE	10,306	$244,250	0.11%
93	CHEGG INC	CHGG	260,000	$227,500	0.10%
94	FINWARD	FNWD	7,499	$218,221	0.10%
95	MICROSOFT	MSFT	744	$214,489	0.10%
96	WESTERN DIGITAL	WDC	220,000	$212,080	0.09%
97	KKR REAL ESTATE	KKRT	195,000	$193,050	0.09%
98	WARNER BROS	WBD	12,323	$186,077	0.08%
99	GUIDEWIRE	GWRE	170,000	$165,665	0.07%
100	NEW MOUNTAIN	647551AC4	155,000	$154,031	0.07%
101	SUPERNUS PHARMA	SUPN	142,000	$141,980	0.06%
102	FORD MOTOR	345370CZ1	117,000	$116,883	0.05%
103	PARSONS CORP	PSN	100,000	$110,200	0.05%
104	VANECK ETF	92189F122	3,225	$109,016	0.05%