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CCM

Cutler Capital Management Portfolio holdings

AUM $370M
1-Year Est. Return 15.34%
This Fund
S&P 500
This Quarter Est. Return
+0.08%
1 Year Est. Return
+15.34%
3 Year Est. Return
+34.05%
5 Year Est. Return
+30.59%
10 Year Est. Return
+61.15%
AUM
$254M
AUM Growth
+$12.9M
Cap. Flow
-$17.3M
Cap. Flow %
-6.79%
Top 10 Hldgs %
32.01%
Holding
118
New
13
Increased
44
Reduced
21
Closed
9

Top Buys

Rank Stock Value
1
KIM.PRN icon
Kimco Realty Corp 7.25% Class N Preferred Stock
KIM.PRN
+$5.21M
2
CLVT.PRA
Clarivate Plc 5.25% Series A Mandatory Convertible Preferred Shares
CLVT.PRA
+$1.41M
3
TTE icon
TotalEnergies
TTE
+$787K
4
EPR.PRC icon
EPR Properties 5.75% Series C Preferred Shares
EPR.PRC
+$518K
5
APLE icon
Apple Hospitality REIT
APLE
+$363K

Top Sells

Rank Stock Value
1
RPT.PRD
RPT Realty 7.25% Series D Cumulative Convertible Perpetual Preferred Shares of Beneficial Interest
RPT.PRD
+$4.98M
2
AJXA
Great Ajax Corp.7.25% Convertible Senior Notes due 2024
AJXA
+$1.69M
3
KEY icon
KeyCorp
KEY
+$697K
4
HCDIP
Harbor Custom Development, Inc. 8.0% Series A Cumulative Convertible Preferred Stock, no par value
HCDIP
+$497K
5
CWBC
Community West BanCshares
CWBC
+$355K

Sector Composition

Rank Sector Weight
1 Financials 24.77%
2 Real Estate 8.4%
3 Healthcare 8.4%
4 Energy 5.96%
5 Consumer Staples 5.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
APLE icon
26
Apple Hospitality REIT
APLE
$3.82B
$2.54M 1%
155,223
+22,160
+17% +$363K
AIG icon
27
American International
AIG
$41.3B
$2.54M 1%
32,500
– –
ENR icon
28
Energizer
ENR
$1.55B
$2.47M 0.97%
83,971
-1,183
-1% -$35.8K
LXP icon
29
LXP Industrial Trust
LXP
$3.57B
$2.35M 0.92%
52,155
-173
-0.3% -$7.86K
IFF icon
30
International Flavors & Fragrances
IFF
$21.9B
$2.2M 0.87%
25,602
-375
-1% -$30.1K
MNSB icon
31
MainStreet Bancshares
MNSB
$172M
$2.15M 0.84%
118,296
+8,027
+7% +$157K
EPR.PRC icon
32
EPR Properties 5.75% Series C Preferred Shares
EPR.PRC
$148M
$1.84M 0.72%
97,245
+26,254
+37% +$518K
ABCB icon
33
Ameris Bancorp
ABCB
$5.89B
$1.83M 0.72%
37,750
-4,389
-10% -$213K
TSN icon
34
Tyson Foods
TSN
$20.4B
$1.63M 0.64%
27,824
-97
-0.3% -$5.32K
MOAT icon
35
VanEck Morningstar Wide Moat ETF
MOAT
$12.3B
$1.46M 0.57%
16,234
+1,501
+10% +$129K
VOO icon
36
Vanguard S&P 500 ETF
VOO
$1.01T
$1.41M 0.55%
2,928
+486
+20% +$222K
FCCO icon
37
First Community Corp
FCCO
$322M
$1.33M 0.52%
76,500
– –
FNCB
38
DELISTED
FNCB Bancorp Inc. Common Stock
FNCB
$1.29M 0.51%
212,447
-3,509
-2% -$21.8K
CLVT.PRA
39
DELISTED
Clarivate Plc 5.25% Series A Mandatory Convertible Preferred Shares
CLVT.PRA
$1.23M 0.48%
+41,485
New +$1.41M
T icon
40
AT&T
T
$163B
$1.18M 0.46%
67,027
-490
-0.7% -$8.37K
BANC icon
41
Banc of California
BANC
$2.97B
$1.06M 0.42%
69,750
+22,000
+46% +$306K
EBMT icon
42
Eagle Bancorp Montana
EBMT
$190M
$911K 0.36%
70,985
+244
+0.3% +$3.36K
FISI icon
43
Financial Institutions
FISI
$821M
$860K 0.34%
45,683
+37
+0.1% +$732
GDX icon
44
VanEck Gold Miners ETF
GDX
$27.4B
$853K 0.34%
26,987
+3,320
+14% +$94.3K
VGM icon
45
Invesco Trust Investment Grade Municipals
VGM
$564M
$849K 0.33%
86,117
– –
TTE icon
46
TotalEnergies
TTE
$190B
$826K 0.32%
+12,000
New +$787K
ABBV icon
47
AbbVie
ABBV
$435B
$701K 0.28%
3,849
+34
+0.9% +$5.86K
MPT
48
Medical Properties Trust
MPT
$2.81B
$698K 0.27%
148,610
+6,656
+5% +$25.5K
FRAF icon
49
Franklin Financial Services
FRAF
$280M
$626K 0.25%
23,907
-259
-1% -$7.34K
BANC.PRF
50
Banc of California Depository Shares Series F
BANC.PRF
$519M
$579K 0.23%
25,150
-200
-0.8% -$4.51K
1
2
3 4

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ACA
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OCMH
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Cutler Capital Management's Q1 2024 Portfolio in Review

As of Q1 2024, Cutler Capital Management held 118 positions worth $254M, up 5.4% from $241M the previous quarter. Its ten largest holdings account for 32% of the portfolio.

Cutler Capital Management withdrew a net $17.3M in Q1 2024, closing 9 positions and reducing 21 holdings. Its most notable exit was RPT Realty 7.25% Series D Cumulative Convertible Perpetual Preferred Shares of Beneficial Interest, an estimated $4.98M position sold in full.

By sector, the portfolio is most concentrated in Financials at 25% of assets, down from 28% a quarter earlier, followed by Real Estate and Healthcare.

Against the trend, Cutler Capital Management opened a new position in Kimco Realty Corp 7.25% Class N Preferred Stock worth $5.16M.

  • Cutler Capital Management's largest Q1 2024 buy was Kimco Realty Corp 7.25% Class N Preferred Stock: 91,537 shares worth $5.16M.
  • Cutler Capital Management added most to EPR Properties 5.75% Series C Preferred Shares in Q1 2024, an estimated $518K increase.
  • Cutler Capital Management's biggest Q1 2024 reduction was Community West BanCshares, cutting an estimated $355K.
  • Cutler Capital Management fully exited RPT Realty 7.25% Series D Cumulative Convertible Perpetual Preferred Shares of Beneficial Interest in Q1 2024, selling an estimated $4.98M.
  • Cutler Capital Management's ten largest holdings make up 32% of its $254M portfolio in Q1 2024.
  • Cutler Capital Management opened 13 new positions and closed 9 in Q1 2024.
  • Cutler Capital Management's portfolio value rose 5.4% quarter-over-quarter to $254M.

Based on Cutler Capital Management's 13F filing for Q1 2024, filed 14 May 2024.