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Cutler Investment Counsel Portfolio holdings

AUM $1.06B
1-Year Est. Return 20.29%
This Fund
S&P 500
This Quarter Est. Return
-8.23%
1 Year Est. Return
+20.29%
3 Year Est. Return
+56.21%
5 Year Est. Return
+59.52%
10 Year Est. Return
+194.49%
AUM
$465M
AUM Growth
-$69.7M
Cap. Flow
-$22.2M
Cap. Flow %
-4.77%
Top 10 Hldgs %
35.58%
Holding
96
New
1
Increased
14
Reduced
50
Closed
6

Top Buys

Rank Stock Value
1
IWD icon
iShares Russell 1000 Value ETF
IWD
+$1.52M
2
RSG icon
Republic Services
RSG
+$1.48M
3
MDT icon
Medtronic
MDT
+$1.15M
4
GLD icon
SPDR Gold Trust
GLD
+$151K
5
VNM icon
VanEck Vietnam ETF
VNM
+$131K

Top Sells

Rank Stock Value
1
DJP icon
iPath Bloomberg Commodity Index Total Return ETN due 12 June 2036
DJP
+$7.38M
2
MSFT icon
Microsoft
MSFT
+$3.17M
3
VO icon
Vanguard Morningstar Mid-Cap ETF
VO
+$1.47M
4
BSV icon
Vanguard Short-Term Bond ETF
BSV
+$1.31M
5
IGSB icon
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
+$1.06M

Sector Composition

Rank Sector Weight
1 Healthcare 10.13%
2 Industrials 9.92%
3 Technology 8.59%
4 Financials 8.25%
5 Consumer Staples 7.06%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PEP icon
26
PepsiCo
PEP
$188B
$8.13M 1.75%
73,592
+202
+0.3% +$22.8K
MTB icon
27
M&T Bank
MTB
$36.3B
$7.84M 1.69%
54,796
-836
-2% -$134K
PG icon
28
Procter & Gamble
PG
$340B
$7.82M 1.68%
85,039
+739
+0.9% +$66.1K
DD icon
29
DuPont de Nemours
DD
$19.1B
$7.52M 1.62%
55,506
-1,606
-3% -$231K
XOM icon
30
ExxonMobil
XOM
$662B
$7.5M 1.61%
109,957
-2,301
-2% -$181K
BMY icon
31
Bristol-Myers Squibb
BMY
$132B
$7.46M 1.61%
143,611
-3,820
-3% -$205K
RSG icon
32
Republic Services
RSG
$65.7B
$7.39M 1.59%
102,506
+20,157
+24% +$1.48M
D icon
33
Dominion Energy
D
$59.1B
$7.3M 1.57%
102,198
-299
-0.3% -$21.8K
QCOM icon
34
Qualcomm
QCOM
$170B
$7.1M 1.53%
124,812
-3,641
-3% -$221K
RTX icon
35
RTX Corp
RTX
$302B
$6.68M 1.44%
99,699
-1,393
-1% -$109K
MRSH
36
Marsh
MRSH
$91B
$6.58M 1.42%
82,501
-2,537
-3% -$212K
KR icon
37
Kroger
KR
$34.6B
$6.44M 1.39%
234,111
-6,469
-3% -$188K
NTRS icon
38
Northern Trust
NTRS
$34.4B
$5.94M 1.28%
71,106
-5,713
-7% -$535K
T icon
39
AT&T
T
$165B
$5.91M 1.27%
274,210
-18,289
-6% -$426K
UNP icon
40
Union Pacific
UNP
$174B
$5.75M 1.24%
41,599
-348
-0.8% -$51.6K
PRU icon
41
Prudential Financial
PRU
$42.1B
$5.49M 1.18%
67,262
-3,566
-5% -$328K
EMLC icon
42
VanEck JP Morgan EM Local Currency Bond ETF
EMLC
$4.78B
$5.4M 1.16%
163,686
-20,210
-11% -$660K
PDN icon
43
Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF
PDN
$364M
$5.28M 1.14%
191,383
-19,758
-9% -$583K
EES icon
44
WisdomTree US SmallCap Earnings Fund
EES
$727M
$4.14M 0.89%
129,225
-15,715
-11% -$560K
SPEM icon
45
State Street SPDR Portfolio Emerging Markets ETF
SPEM
$17.7B
$3.02M 0.65%
93,272
-6,389
-6% -$211K
SLB icon
46
SLB Ltd
SLB
$78.9B
$1.75M 0.38%
48,469
-4,650
-9% -$229K
VUG icon
47
Vanguard Morningstar Growth ETF
VUG
$230B
$1.58M 0.34%
70,488
-1,038
-1% -$25.1K
IWD icon
48
iShares Russell 1000 Value ETF
IWD
$84.2B
$1.41M 0.3%
+12,659
New +$1.52M
DTD icon
49
WisdomTree US Total Dividend Fund
DTD
$1.69B
$1.25M 0.27%
29,602
-15,460
-34% -$702K
NEE icon
50
NextEra Energy
NEE
$177B
$1.09M 0.24%
25,200
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1
2
3 4

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EC
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ZIG
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DCP
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PP
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MWA
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SCM
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ECM
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Cutler Investment Counsel's Q4 2018 Portfolio in Review

As of Q4 2018, Cutler Investment Counsel held 96 positions worth $465M, down 13% from $534M the previous quarter. Its ten largest holdings account for 36% of the portfolio.

Cutler Investment Counsel withdrew a net $22.2M in Q4 2018, closing 6 positions and reducing 50 holdings. Its most notable exit was iPath Bloomberg Commodity Index Total Return ETN due 12 June 2036, an estimated $7.38M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 10% of assets, up from 9.5% a quarter earlier, followed by Industrials and Technology.

Against the trend, Cutler Investment Counsel opened a new position in iShares Russell 1000 Value ETF worth $1.41M.

  • Cutler Investment Counsel's largest Q4 2018 buy was iShares Russell 1000 Value ETF: 12,659 shares worth $1.41M.
  • Cutler Investment Counsel added most to Republic Services in Q4 2018, an estimated $1.48M increase.
  • Cutler Investment Counsel's biggest Q4 2018 reduction was Microsoft, cutting an estimated $3.17M.
  • Cutler Investment Counsel fully exited iPath Bloomberg Commodity Index Total Return ETN due 12 June 2036 in Q4 2018, selling an estimated $7.38M.
  • Cutler Investment Counsel's ten largest holdings make up 36% of its $465M portfolio in Q4 2018.
  • Cutler Investment Counsel opened 1 new position and closed 6 in Q4 2018.
  • Cutler Investment Counsel's portfolio value fell 13% quarter-over-quarter to $465M.

Based on Cutler Investment Counsel's 13F filing for Q4 2018, filed 13 Feb 2019.