CUTLER INVESTMENT COUNSEL LLC
Long book
$971.1M
Q1 2026
Positions
146
Top-10 weight
36%
concentration
Last quarter
+7.8%
SPY +14.8%
Turnover
9%
of book per quarter
Strategy in plain words
auto-generated from filingsCUTLER INVESTMENT COUNSEL LLC is a wealth-management firm allocating client money, running a $971.1M US long book across 146 positions.
The portfolio is moderately concentrated (top 10 ≈ 36% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: VANGUARD MID-CAP ETF, ISHARES 1-5Y INV GRADE CORP, ISHARES CORE MSCI EAFE ETF, STATE STREET SP PTF EM ETF, JPMORGAN INT RES ENH EQTY.
Over the last 9 quarters its long book ran on average 1pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-0.6%
Q2 2024
+8.8%
Q3 2024
-2.3%
Q4 2024
+1.1%
Q1 2025
+7.2%
Q2 2025
+5.4%
Q3 2025
+2.1%
Q4 2025
+1.8%
Q1 2026
+7.8%
Sector allocation
Industrials 18%
Consumer discretionary 17%
Financials 15%
Technology 14%
Healthcare 12%
Energy 9%
Utilities 6%
Other 3%
Long book by quarter
What does CUTLER INVESTMENT own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| WMT WALMART INC | Consumer discretionary | 217.5K | $27.1M | 2.8% | -1.7% |
| CAT CATERPILLAR INC | Industrials | 37.8K | $26.8M | 2.8% | -19.8% |
| MSFT MICROSOFT CORP | Technology | 67.6K | $25.0M | 2.6% | -1.2% |
| RTX RTX CORP | Industrials | 115.0K | $22.2M | 2.3% | -1.2% |
| XOM EXXON MOBIL CORP | Energy | 119.0K | $20.2M | 2.1% | -0.4% |
| DE DEERE & CO | Industrials | 32.4K | $18.3M | 1.9% | -1.3% |
| SCHW SCHWAB (CHARLES) CORP | Financials | 186.3K | $17.5M | 1.8% | -0.9% |
| RSG REPUBLIC SERVICES INC | Utilities | 77.5K | $17.0M | 1.7% | -1.7% |
| BLK BLACKROCK INC | Financials | 17.5K | $16.8M | 1.7% | -2.0% |
| MCD MCDONALD'S CORP | Consumer discretionary | 50.3K | $15.6M | 1.6% | -1.4% |
| HD HOME DEPOT INC | Consumer discretionary | 46.2K | $15.2M | 1.6% | -1.3% |
| CVX CHEVRON CORP | Energy | 65.8K | $13.6M | 1.4% | -2.9% |
| JPM JPMORGAN CHASE & CO | Financials | 45.9K | $13.5M | 1.4% | 0.0% |
| KR KROGER CO | Consumer discretionary | 175.0K | $12.7M | 1.3% | -1.4% |
| NEE NEXTERA ENERGY INC | Utilities | 134.4K | $12.5M | 1.3% | -0.7% |
| JNJ JOHNSON & JOHNSON | Healthcare | 49.8K | $12.2M | 1.3% | -0.7% |
| VZ VERIZON COMMUNICATIONS INC | Communications | 233.5K | $11.7M | 1.2% | -1.3% |
| TXN TEXAS INSTRUMENTS INC | Technology | 56.3K | $10.9M | 1.1% | -1.2% |
| CVS CVS HEALTH CORP | Healthcare | 149.5K | $10.7M | 1.1% | -1.4% |
| MRK MERCK & CO. INC. | Healthcare | 87.6K | $10.6M | 1.1% | -1.1% |
| IBM INTL BUSINESS MACHINES CORP | Technology | 42.4K | $10.3M | 1.1% | -0.6% |
| MDT MEDTRONIC PLC | Healthcare | 114.9K | $10.0M | 1.0% | -2.2% |
| PNC PNC FINANCIAL SERVICES GROUP | Financials | 44.1K | $9.2M | 0.9% | -1.1% |
| PEP PEPSICO INC | Consumer staples | 56.6K | $8.8M | 0.9% | -1.4% |
| PG PROCTER & GAMBLE CO/THE | Other | 59.5K | $8.6M | 0.9% | -1.0% |
| CARR CARRIER GLOBAL CORP | Industrials | 145.4K | $8.2M | 0.8% | -2.1% |
| MTB M & T BANK CORP | Financials | 38.8K | $8.0M | 0.8% | -1.2% |
| PSX PHILLIPS 66 | Energy | 39.3K | $7.2M | 0.7% | New |
| BDX BECTON DICKINSON AND CO | Healthcare | 40.6K | $6.4M | 0.7% | -2.1% |
| AAPL APPLE INC | Technology | 24.2K | $6.2M | 0.6% | -3.8% |
| NKE NIKE INC -CL B | Other | 107.3K | $5.7M | 0.6% | -10.9% |
| Q QNITY ELECTRONICS INC | Technology | 47.8K | $5.5M | 0.6% | -1.5% |
| PFE PFIZER INC | Healthcare | 163.1K | $4.6M | 0.5% | -1.3% |
| DD DUPONT DE NEMOURS INC | Materials | 88.6K | $4.1M | 0.4% | -1.4% |
| LEN LENNAR CORP-A | Industrials | 41.7K | $3.6M | 0.4% | -1.7% |
| SPGI S&P GLOBAL INC | Services media | 7.6K | $3.2M | 0.3% | Held |
| AMZN AMAZON.COM INC | Consumer discretionary | 14.5K | $3.0M | 0.3% | +9.8% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 3.0K | $2.9M | 0.3% | +0.8% |
| AVO MISSION PRODUCE INC | Consumer staples | 211.8K | $2.9M | 0.3% | Held |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 5.7K | $2.7M | 0.3% | +2.1% |
| GOOG ALPHABET INC-CL C | Technology | 8.0K | $2.3M | 0.2% | +6.7% |
| NVDA NVIDIA CORP | Technology | 8.4K | $1.5M | 0.2% | -1.2% |
| BRK/A BERKSHIRE HATHAWAY INC-CL A | Financials | 2 | $1.4M | 0.1% | Held |
| TSLA TESLA INC | Industrials | 3.1K | $1.1M | 0.1% | +5.3% |
| GOOGL ALPHABET INC-CL A | Technology | 3.9K | $1.1M | 0.1% | +11.9% |
| COR CENCORA INC | Consumer discretionary | 2.5K | $770K | 0.1% | Held |
| IBRX IMMUNITYBIO INC | Healthcare | 100.0K | $767K | 0.1% | New |
| SBUX STARBUCKS CORP | Consumer discretionary | 8.2K | $732K | 0.1% | -0.5% |
| LOW LOWE'S COS INC | Consumer discretionary | 3.0K | $715K | 0.1% | Held |
| WFC WELLS FARGO & CO | Financials | 8.4K | $670K | 0.1% | +0.7% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 7, 2026 | 146 | $971.1M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 12, 2026 | 144 | $961.3M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 4, 2025 | 140 | $953.8M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 28, 2025 | 138 | $898.7M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 8, 2025 | 151 | $832.4M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 31, 2025 | 128 | $803.8M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 6, 2024 | 127 | $792.7M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 30, 2024 | 145 | $734.9M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 30, 2024 | 145 | $745.8M | canonical | SEC ↗ |