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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
+1.17%
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
$265M
AUM Growth
+$4M
Cap. Flow
-$19.5M
Cap. Flow %
-7.36%
Top 10 Hldgs %
29.86%
Holding
115
New
10
Increased
49
Reduced
13
Closed
6

Top Buys

Rank Stock Value
1
IFF icon
International Flavors & Fragrances
IFF
+$7.43M
2
CNP.PRB
CenterPoint Energy, Inc. Depositary Shares Each Representing a 1/20th Interest in a Share of 7.00% S
CNP.PRB
+$7.12M
3
ENR.PRA
Energizer Holdings, Inc. 7.50% Series A Mandatory Convertible Preferred Stock
ENR.PRA
+$1.91M
4
FXNC icon
First National Corp
FXNC
+$1.42M
5
FHN icon
First Horizon
FHN
+$1.01M

Top Sells

Rank Stock Value
1
IFFT
International Flavors & Fragrances Inc. 6.00% Tangible Equity Units
IFFT
+$7.7M
2
FTV.PRA
Fortive Corporation 5.00% Mandatory Convertible Preferred Stock, Series A
FTV.PRA
+$6.17M
3
FLG.PRU
Flagstar Bank National Association Bifurcated Option Note Unit Securities
FLG.PRU
+$1.57M
4
ACI icon
Albertsons Companies
ACI
+$534K
5
LXP.PRC icon
LXP Industrial Trust 6.5% Series C Preferred Stock
LXP.PRC
+$482K

Sector Composition

Rank Sector Weight
1 Financials 26.77%
2 Real Estate 6.79%
3 Healthcare 5.74%
4 Materials 4.44%
5 Consumer Staples 3.17%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MET icon
1
MetLife
MET
$61B
$10.1M 3.81%
163,459
-1,152
-0.7% -$69.4K
CNP.PRB
2
DELISTED
CenterPoint Energy, Inc. Depositary Shares Each Representing a 1/20th Interest in a Share of 7.00% S
CNP.PRB
$8.32M 3.14%
338,406
+150,741
+80% +$7.12M
TSBK icon
3
Timberland Bancorp
TSBK
$343M
$8.01M 3.02%
277,106
+1,998
+0.7% +$57.2K
WY icon
4
Weyerhaeuser
WY
$17.3B
$7.2M 2.72%
202,491
+4,625
+2% +$162K
MRK icon
5
Merck
MRK
$324B
$6.88M 2.6%
91,650
+3,175
+4% +$241K
SBFG icon
6
SB Financial Group
SBFG
$160M
$6.79M 2.56%
392,001
+17,903
+5% +$311K
LXP icon
7
LXP Industrial Trust
LXP
$3.53B
$6.77M 2.56%
106,135
+600
+0.6% +$39.3K
IFF icon
8
International Flavors & Fragrances
IFF
$19.4B
$6.76M 2.55%
+50,594
New +$7.43M
PFE icon
9
Pfizer
PFE
$140B
$6.6M 2.49%
153,375
+1,800
+1% +$79.7K
TSNU
10
DELISTED
Tyson Foods, Inc.
TSNU
$6.03M 2.28%
76,439
+122
+0.2% +$9.63K
PKBK icon
11
Parke Bancorp
PKBK
$390M
$5.92M 2.24%
270,423
+3,802
+1% +$77.4K
ENR.PRA
12
DELISTED
Energizer Holdings, Inc. 7.50% Series A Mandatory Convertible Preferred Stock
ENR.PRA
$5.23M 1.98%
61,805
+21,795
+54% +$1.91M
AEM icon
13
Agnico Eagle Mines
AEM
$72.6B
$4.99M 1.88%
96,155
+7,225
+8% +$421K
FLG.PRU
14
Flagstar Bank National Association Bifurcated Option Note Unit Securities
FLG.PRU
$118M
$4.45M 1.68%
83,411
-30,176
-27% -$1.57M
BG icon
15
Bunge Global
BG
$23.6B
$4.16M 1.57%
51,100
+1,400
+3% +$108K
FXNC icon
16
First National Corp
FXNC
$269M
$4.09M 1.55%
178,000
+65,900
+59% +$1.42M
CWBC
17
DELISTED
Community West BanCshares
CWBC
$4.08M 1.54%
313,038
+2,000
+0.6% +$26.7K
ACI icon
18
Albertsons Companies
ACI
$5.4B
$3.87M 1.46%
124,200
-20,300
-14% -$534K
T icon
19
AT&T
T
$165B
$3.78M 1.43%
185,073
+12,505
+7% +$263K
FBIZ icon
20
First Business Financial Services
FBIZ
$562M
$3.65M 1.38%
127,000
+20,000
+19% +$553K
SJI
21
DELISTED
South Jersey Industries, Inc.
SJI
$3.44M 1.3%
161,880
-6,739
-4% -$166K
BRBS icon
22
Blue Ridge Bankshares
BRBS
$311M
$3.35M 1.27%
190,500
+9,000
+5% +$157K
DCUE
23
DELISTED
Dominion Energy, Inc. 2019 Series A Corporate Units
DCUE
$2.69M 1.02%
27,750
-1,300
-4% -$130K
RPT.PRD
24
DELISTED
RPT Realty 7.25% Series D Cumulative Convertible Perpetual Preferred Shares of Beneficial Interest
RPT.PRD
$2.6M 0.98%
43,645
-2,300
-5% -$133K
VZ icon
25
Verizon
VZ
$194B
$2.48M 0.94%
45,964
+14,861
+48% +$822K
1
2 3

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Cutler Capital Management's Q3 2021 Portfolio in Review

As of Q3 2021, Cutler Capital Management held 115 positions worth $265M, up 1.5% from $261M the previous quarter. Its ten largest holdings account for 30% of the portfolio.

Cutler Capital Management withdrew a net $19.5M in Q3 2021, closing 6 positions and reducing 13 holdings. Its most notable exit was International Flavors & Fragrances Inc. 6.00% Tangible Equity Units, an estimated $7.7M position sold in full.

By sector, the portfolio is most concentrated in Financials at 27% of assets, up from 25% a quarter earlier, followed by Real Estate and Healthcare.

Against the trend, Cutler Capital Management opened a new position in International Flavors & Fragrances worth $6.76M.

  • Cutler Capital Management's largest Q3 2021 buy was International Flavors & Fragrances: 50,594 shares worth $6.76M.
  • Cutler Capital Management added most to CenterPoint Energy, Inc. Depositary Shares Each Representing a 1/20th Interest in a Share of 7.00% S in Q3 2021, an estimated $7.12M increase.
  • Cutler Capital Management's biggest Q3 2021 reduction was Flagstar Bank National Association Bifurcated Option Note Unit Securities, cutting an estimated $1.57M.
  • Cutler Capital Management fully exited International Flavors & Fragrances Inc. 6.00% Tangible Equity Units in Q3 2021, selling an estimated $7.7M.
  • Cutler Capital Management's ten largest holdings make up 30% of its $265M portfolio in Q3 2021.
  • Cutler Capital Management opened 10 new positions and closed 6 in Q3 2021.
  • Cutler Capital Management's portfolio value rose 1.5% quarter-over-quarter to $265M.

Based on Cutler Capital Management's 13F filing for Q3 2021, filed 12 Nov 2021.