13F HOLDINGS REPORT

Cutler Capital Management, LLC

Quarter ended Q4 2023 · Filed November 13, 2023 · Accession 0001353098-23-000008

Total Value

$221.7M

Positions

111

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (111)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	METLIFE	MET-PF	171,561	$10.8M	4.87%
2	BUNGE LIMITED	BG	76,566	$8.3M	3.74%
3	TIMBERLAND BANK	TSBK	291,398	$7.9M	3.56%
4	EXCHANGE BANK	301227203	76,324	$7.1M	3.20%
5	PFIZER	PFE	208,801	$6.9M	3.12%
6	SHELL PLC	RYDAF	107,018	$6.9M	3.11%
7	MERCK	MRK	65,191	$6.7M	3.03%
8	AGNICO EAGLE	AEM	143,644	$6.5M	2.94%
9	ENERGY TRANSFER MLP	ET-PI	431,957	$6.1M	2.73%
10	FIDELITY ENERGY ETF	316092402	219,922	$5.5M	2.47%
11	SB FINANCIAL	78408D105	400,507	$5.4M	2.44%
12	PARKE BANCORP	PKBK	306,456	$5.0M	2.25%
13	LEDYARD FINANCIAL	523338101	331,296	$4.7M	2.13%
14	WEYERHAEUSER	WY	150,631	$4.6M	2.08%
15	RPT REALTY	74971D200	89,939	$4.6M	2.06%
16	FIRST BUSINESS	319390100	152,170	$4.6M	2.06%
17	VIATRIS INC	VTRS	434,296	$4.3M	1.93%
18	ENERGIZER	ENR	131,344	$4.2M	1.90%
19	COMMUNITY WEST	CWBC	315,897	$4.1M	1.85%
20	INNOVIVA	INVA	3,905,000	$3.9M	1.74%
21	GLOBAL MEDICAL	37954A204	401,422	$3.6M	1.62%
22	FIRST NATIONAL	32106V107	201,711	$3.6M	1.60%
23	INTL FLAVORS	459506101	50,652	$3.5M	1.56%
24	VICI PRPTY	925652109	117,513	$3.4M	1.54%
25	NY COMM BANC	FLG-PU	92,545	$3.4M	1.52%
26	CHESAPEAKE FINL	CPKF	172,500	$3.3M	1.48%
27	BENCHMARK BANK	BMBN	142,000	$3.2M	1.43%
28	BANK BOTETOURT	063907208	101,144	$3.0M	1.34%
29	POTOMAC BANCSH	737643106	179,888	$3.0M	1.33%
30	ALERUS FINAN	01446U103	156,651	$2.8M	1.28%
31	ALBERTSONS	013091103	117,761	$2.7M	1.21%
32	F&M BANCORP	FMBM	133,914	$2.7M	1.21%
33	CSB BANCORP	CSBB	68,500	$2.6M	1.17%
34	HARBOR CUSTOM	41150T207	545,575	$2.4M	1.10%
35	NRG ENERGY	NRG	2,225,000	$2.4M	1.06%
36	LXP INDUSTRIAL	LXP-PC	254,457	$2.3M	1.02%
37	HCI GROUP	HCIIP	2,305,000	$2.2M	0.98%
38	MAIN STREET BANC	MNSBP	97,584	$2.0M	0.90%
39	AMERICAN INTL	026874784	32,500	$2.0M	0.89%
40	HCI GROUP	HCIIP	36,242	$2.0M	0.89%
41	SOLVAY BANK	83441Q105	71,799	$1.9M	0.86%
42	CTO REALTY	22948Q101	115,455	$1.9M	0.84%
43	AMERIS BANCORP	ABCB	45,206	$1.7M	0.78%
44	GREAT AJAX	38983D409	71,635	$1.7M	0.78%
45	APPLE HOSPITLITY	APLE	110,657	$1.7M	0.77%
46	MERCHANTS FINAN	588538108	64,300	$1.6M	0.72%
47	VERIZON	VZ	46,983	$1.5M	0.69%
48	ORRSTOWN FINL	687380105	70,000	$1.5M	0.66%
49	FSBH CORP	30325F101	189,700	$1.5M	0.66%
50	FIRST NATIONAL	302578109	242,485	$1.4M	0.65%
51	TYSON FOODS	TSN	28,320	$1.4M	0.64%
52	MEDICAL PRTY	58463J304	253,765	$1.4M	0.62%
53	FIRST COMMUNITY	319835104	76,500	$1.3M	0.60%
54	SFL CORP	SFL	115,600	$1.3M	0.58%
55	ETSY	ETSY	1,550,000	$1.2M	0.56%
56	BANK FLORIDA	06645F104	100,000	$1.2M	0.54%
57	EPR PROPERTIES	26884U208	57,450	$1.1M	0.48%
58	MCHENRY BANCORP	580683100	29,000	$1.1M	0.48%
59	AT&T INC	T-PC	68,763	$1.0M	0.47%
60	VIAVI SOLUTIONS	VIAV	1,000,000	$977,500	0.44%
61	VANECK VECTORS ETF	92189F643	12,631	$957,927	0.43%
62	VANGUARD S&P 500 ETF	922908363	2,268	$890,770	0.40%
63	EAGLE BANCORP	26942G100	70,481	$838,723	0.38%
64	LYFT INC	LYFT	885,000	$813,315	0.37%
65	TOTALENERGIES	TTE	12,000	$789,120	0.36%
66	FINANCIAL INST	317585404	45,600	$767,448	0.35%
67	INVESCO TR INVT CEF	IVZ	86,117	$731,997	0.33%
68	FRANKLIN FINL	353525108	25,120	$715,942	0.32%
69	CAMBRIDGE BANC	132152109	10,859	$676,407	0.31%
70	MOUNTAIN COMM	624004107	38,000	$619,400	0.28%
71	VANECK VECTORS ETF	92189F106	21,953	$590,751	0.27%
72	ABBVIE	ABBV	3,676	$547,932	0.25%
73	KEYCORP	493267108	50,767	$546,255	0.25%
74	FIRST LONG ISLAND	320734106	47,438	$546,008	0.25%
75	PACWEST BANC	695263202	25,700	$526,593	0.24%
76	BERKSHIRE HATH	BRK-A	1,336	$468,001	0.21%
77	CITIZENS BANC	CIA	16,223	$464,140	0.21%
78	HANCOCK WHITNEY	HWCPZ	10,656	$394,169	0.18%
79	M&T BANK	55261F104	2,980	$376,827	0.17%
80	SOUTH STATE	SSB	5,583	$376,102	0.17%
81	INTL BUS MACHINE	INTR	2,560	$359,168	0.16%
82	ISHARES CORE ETF	464287663	4,800	$358,176	0.16%
83	FIRST TRUST	33736Q104	8,899	$353,661	0.16%
84	EURONET	EEFT	364,000	$334,425	0.15%
85	MICROSOFT	MSFT	1,052	$332,052	0.15%
86	ARES CAP	ARCC	315,000	$319,530	0.14%
87	SPDR S&P 500 ETF	SPY	732	$313,120	0.14%
88	BLUE RIDGE BANK	BRBS	66,697	$301,473	0.14%
89	SPOTIFY	84921RAB6	330,000	$280,665	0.13%
90	CHEGG INC	CHGG	290,000	$260,710	0.12%
91	EXPEDIA GROUP	EXPE	300,000	$260,640	0.12%
92	EZCORP	EZPW	245,000	$250,880	0.11%
93	WESTERN DIGITAL	WDC	250,000	$245,750	0.11%
94	SCHWAB	808524409	3,667	$236,375	0.11%
95	SEACOAST BANKING	SE	10,682	$234,576	0.11%
96	MORNING STAR	617697107	19,348	$212,634	0.10%
97	TRUIST FINAN	89832Q109	7,084	$202,685	0.09%
98	GUIDEWIRE	GWRE	200,000	$202,600	0.09%
99	BECTON DICKSON	BDX	739	$191,054	0.09%
100	BANC CALIFORNIA	BANC-PF	15,000	$185,700	0.08%
101	SCHWAB	808524300	2,515	$182,891	0.08%
102	SCHWAB	808524805	5,301	$180,022	0.08%
103	FIRST NATL AK	32112J106	849	$159,612	0.07%
104	ZION BANC	989701107	4,182	$145,921	0.07%
105	WARNER BROS	WBD	12,637	$137,238	0.06%
106	PARSONS CORP	PSN	100,000	$126,950	0.06%
107	FORD MOTOR	345370CZ1	117,000	$114,952	0.05%
108	AMAZON	AMZN	880	$111,866	0.05%
109	GREENBRIER	393657AM3	117,000	$110,214	0.05%
110	VANECK ETF	92189F122	3,225	$103,677	0.05%
111	MORNING STAR	617697206	10,493	$100,624	0.05%