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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
VIG icon
51
Vanguard Dividend Appreciation ETF
VIG
$114B
$1.07M 0.23%
10,965
+805
+8% +$83.9K
PRF icon
52
Invesco FTSE RAFI US 1000 ETF
PRF
$10B
$993K 0.21%
48,865
-35,885
-42% -$796K
INDA icon
53
iShares MSCI India ETF
INDA
$6.6B
$894K 0.19%
26,800
-25
-0.1% -$788
EMR icon
54
Emerson Electric
EMR
$88.5B
$744K 0.16%
12,450
– –
SPGI icon
55
S&P Global
SPGI
$121B
$718K 0.15%
4,224
– –
EPS icon
56
WisdomTree US LargeCap Fund
EPS
$1.65B
$691K 0.15%
24,513
-1,141
-4% -$34.8K
VBR icon
57
Vanguard Morningstar Small-Cap Value ETF
VBR
$38B
$676K 0.15%
5,930
-130
-2% -$16.4K
GLD icon
58
SPDR Gold Trust
GLD
$143B
$632K 0.14%
5,215
+1,303
+33% +$151K
VTV icon
59
Vanguard Morningstar Value ETF
VTV
$192B
$618K 0.13%
6,305
-6
-0.1% -$631
VBK icon
60
Vanguard Morningstar Small-Cap Growth ETF
VBK
$24.5B
$617K 0.13%
4,098
-123
-3% -$20.3K
AAPL icon
61
Apple
AAPL
$4.5T
$611K 0.13%
15,496
+60
+0.4% +$2.91K
CL icon
62
Colgate-Palmolive
CL
$74.3B
$501K 0.11%
8,416
+416
+5% +$26K
INCO icon
63
Columbia India Consumer ETF
INCO
$238M
$486K 0.1%
11,000
– –
WAFD icon
64
WaFd
WAFD
$2.76B
$423K 0.09%
15,832
– –
ALL icon
65
Allstate
ALL
$68.2B
$413K 0.09%
5,000
– –
VT icon
66
Vanguard Total World Stock ETF
VT
$81.2B
$387K 0.08%
5,911
-451
-7% -$31.6K
BND icon
67
Vanguard Total Bond Market
BND
$161B
$356K 0.08%
4,495
+469
+12% +$36.7K
PNC icon
68
PNC Financial Services
PNC
$100B
$324K 0.07%
2,768
– –
VNM icon
69
VanEck Vietnam ETF
VNM
$510M
$308K 0.07%
20,900
+8,500
+69% +$131K
DFS
70
DELISTED
Discover Financial Services
DFS
$306K 0.07%
5,180
– –
FXI icon
71
iShares China Large-Cap ETF
FXI
$4.35B
$293K 0.06%
7,500
– –
MMM icon
72
3M
MMM
$93.9B
$286K 0.06%
1,794
– –
EFG icon
73
iShares MSCI EAFE Growth ETF
EFG
$17.2B
$285K 0.06%
4,130
+532
+15% +$38.8K
LOW icon
74
Lowe's Companies
LOW
$123B
$277K 0.06%
3,000
– –
IAU icon
75
iShares Gold Trust
IAU
$65.1B
$265K 0.06%
10,801
– –
1 2
3
4

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BGIM
Boussard & Gavaudan Investment Management London, United Kingdom $1.06B AUM 4.58% 1-Year Est. Return
EC
E20 Capital Hong Kong $1.07B AUM
ZIG
Zuckerman Investment Group Chicago, Illinois $1.07B AUM 29.43% 1-Year Est. Return
DCP
Diameter Capital Partners New York $1.07B AUM 152.29% 1-Year Est. Return
PP
Passaic Partners Newark, New Jersey $1.07B AUM 16.56% 1-Year Est. Return
MWA
Monograph Wealth Advisors Manhattan Beach, California $1.05B AUM 23.2% 1-Year Est. Return
SCM
SIR Capital Management New York $1.07B AUM 57.73% 1-Year Est. Return
ECM
Element Capital Management New York $1.05B AUM 5.05% 1-Year Est. Return

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.