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Cutler Capital Management, LLC

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13F filer, CIK 1353098, WORCESTER, MA

Cutler Capital Management, LLC reported $287,504,950 across 117 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-14. Its ten largest share positions make up 32.08% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001353098-25-000004

Period
2025-03-31
Reported value
$288M
Holdings
117
Top 10 weight
32.08%
New
7
Sold out
7

Largest buys vs the previous quarter

SecurityShares changeApprox. value
SLBadded+7,944$332K
PTBSadded+16,100$260K
CTOadded+12,126$234K
WYadded+7,227$212K
APLEadded+11,900$154K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
AEMreduced-6,464-$701K
BRBSexited-160,000-$515K
ETreduced-25,003-$465K
MNSBreduced-22,939-$384K
TOTALENERGIES SE -SPON ADRexited-6,082-$331K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001353098-25-000004, largest first. % of portfolio is the value over $287,504,950, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
AEMAGNICO EAGLE MINES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 148,007 shares; 2024Q4: 141,436 shares; 2025Q1: 134,972 shares 134,972$14.6M5.09%-6,464Timeline
METMETLIFE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 166,493 shares; 2024Q4: 165,889 shares; 2025Q1: 166,181 shares 166,181$13.3M4.64%+292Timeline
TSBKTIMBERLAND BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 300,162 shares; 2024Q4: 299,001 shares; 2025Q1: 298,801 shares 298,801$9.01M3.13%-200Timeline
EXSREXCHANGE BK SANTA ROSA CALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 76,254 shares; 2024Q4: 76,054 shares; 2025Q1: 76,054 shares 76,054$8.29M2.88%0Timeline
SBFGSB FINL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 399,154 shares; 2024Q4: 392,556 shares; 2025Q1: 392,556 shares 392,556$8.17M2.84%0Timeline
SHELSHELL PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 109,932 shares; 2024Q4: 110,826 shares; 2025Q1: 111,056 shares 111,056$8.14M2.83%+230Timeline
ETENERGY TRANSFER L PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 456,077 shares; 2024Q4: 441,474 shares; 2025Q1: 416,471 shares 416,471$7.74M2.69%-25,003Timeline
FBIZFIRST BUSINESS FINL SVCS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 153,499 shares; 2024Q4: 153,199 shares; 2025Q1: 155,399 shares 155,399$7.33M2.55%+2,200Timeline
FENYFIDELITY COVINGTON TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 261,493 shares; 2024Q4: 263,905 shares; 2025Q1: 263,510 shares 263,510$6.73M2.34%-395Timeline
PFEPFIZER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 242,744 shares; 2024Q4: 246,894 shares; 2025Q1: 250,397 shares 250,397$6.35M2.21%+3,503Timeline
BGBUNGE GLOBAL SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 81,664 shares; 2024Q4: 82,237 shares; 2025Q1: 80,750 shares 80,750$6.17M2.15%-1,487Timeline
PKBKPARKE BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 309,532 shares; 2024Q4: 308,932 shares; 2025Q1: 308,932 shares 308,932$5.82M2.02%0Timeline
KIMCO REALTY CORPKIMCO REALTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 91,565 shares; 2024Q4: 91,565 shares; 2025Q1: 90,923 shares 90,923$5.47M1.9%-642
VICIVICI PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 155,223 shares; 2024Q4: 163,969 shares; 2025Q1: 165,232 shares 165,232$5.39M1.87%+1,263Timeline
MRKMERCK & CO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 61,501 shares; 2024Q4: 58,025 shares; 2025Q1: 57,731 shares 57,731$5.18M1.8%-294Timeline
LFGPLedyard Financial Group, Inc.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 327,496 shares; 2024Q4: 326,596 shares; 2025Q1: 326,121 shares 326,121$5.05M1.76%-475Timeline
WYWEYERHAEUSER COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 149,924 shares; 2024Q4: 151,661 shares; 2025Q1: 158,888 shares 158,888$4.65M1.62%+7,227Timeline
FXNCFIRST NATL CORP VAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 202,785 shares; 2024Q4: 202,785 shares; 2025Q1: 202,785 shares 202,785$4.55M1.58%0Timeline
BMBNBENCHMARK BANKSHARES INC (VA)Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 164,500 shares; 2024Q4: 166,900 shares; 2025Q1: 167,800 shares 167,800$4.2M1.46%+900Timeline
VTRSVIATRIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 472,307 shares; 2024Q4: 465,910 shares; 2025Q1: 464,910 shares 464,910$4.05M1.41%-1,000Timeline
GLOBAL MED REIT INCGLOBAL MED REIT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 448,903 shares; 2024Q4: 450,279 shares; 2025Q1: 457,038 shares 457,038$4M1.39%+6,759
VZVERIZON COMMUNICATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 71,037 shares; 2024Q4: 86,819 shares; 2025Q1: 88,135 shares 88,135$4M1.39%+1,316Timeline
CNHCNH INDL N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 314,840 shares; 2024Q4: 325,159 shares; 2025Q1: 324,859 shares 324,859$3.99M1.39%-300Timeline
CTOCTO RLTY GROWTH INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 176,166 shares; 2024Q4: 179,766 shares; 2025Q1: 191,892 shares 191,892$3.71M1.29%+12,126Timeline
FLG-PUFLAGSTAR BANK NATIONAL ASSOCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 104,295 shares; 2024Q4: 98,312 shares; 2025Q1: 98,312 shares 98,312$3.67M1.27%0Timeline
APLEAPPLE HOSPITALITY REIT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 242,701 shares; 2024Q4: 268,970 shares; 2025Q1: 280,870 shares 280,870$3.63M1.26%+11,900Timeline
BORTBANK OF BOTETOURT BUCHANAN VAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 104,974 shares; 2024Q4: 104,474 shares; 2025Q1: 104,474 shares 104,474$3.48M1.21%0Timeline
PTBSPOTOMAC BANCSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 194,468 shares; 2024Q4: 195,068 shares; 2025Q1: 211,168 shares 211,168$3.41M1.19%+16,100Timeline
CPKFCHESAPEAKE FINL SHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 173,000 shares; 2024Q4: 173,000 shares; 2025Q1: 173,000 shares 173,000$3.31M1.15%0Timeline
CSBBCSB BANCORP INC (OH)Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 69,850 shares; 2024Q4: 70,500 shares; 2025Q1: 69,000 shares 69,000$3.04M1.06%-1,500Timeline
CWBCCOMMUNITY WEST BANCSHARES NEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 162,061 shares; 2025Q1: 162,061 shares 162,061$2.99M1.04%0Timeline
ALRSALERUS FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 158,972 shares; 2024Q4: 158,972 shares; 2025Q1: 158,972 shares 158,972$2.93M1.02%0Timeline
ACIALBERTSONS COMPANIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 136,164 shares; 2024Q4: 133,062 shares; 2025Q1: 131,762 shares 131,762$2.9M1.01%-1,300Timeline
AIGAMERICAN INTL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 32,500 shares; 2024Q4: 32,600 shares; 2025Q1: 32,800 shares 32,800$2.85M0.99%+200Timeline
SFLSFL CORPORATION LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 312,463 shares; 2024Q4: 349,683 shares; 2025Q1: 340,289 shares 340,289$2.79M0.97%-9,394Timeline
ENRENERGIZER HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 90,587 shares; 2024Q4: 88,437 shares; 2025Q1: 91,042 shares 91,042$2.72M0.95%+2,605Timeline
FMBMF & M BANK CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 133,939 shares; 2024Q4: 133,939 shares; 2025Q1: 136,814 shares 136,814$2.64M0.92%+2,875Timeline
LXPLXP INDUSTRIAL TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 256,981 shares; 2024Q4: 267,481 shares; 2025Q1: 272,284 shares 272,284$2.36M0.82%+4,803Timeline
MFGIMERCHANTS FINANCIAL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 92,500 shares; 2024Q4: 93,700 shares; 2025Q1: 93,700 shares 93,700$2.28M0.79%0Timeline
MOATVANECK ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,899 shares; 2024Q4: 22,138 shares; 2025Q1: 22,743 shares 22,743$2M0.7%+605Timeline
ABCBAMERIS BANCORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 36,473 shares; 2024Q4: 33,959 shares; 2025Q1: 33,759 shares 33,759$1.94M0.68%-200Timeline
EPR PPTYSEPR PPTYSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 89,545 shares; 2024Q4: 89,245 shares; 2025Q1: 82,745 shares 82,745$1.91M0.66%-6,500
SOBSSOLVAY BK CORP SOLVAY NEW YORKQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 71,180 shares; 2024Q4: 68,480 shares; 2025Q1: 63,257 shares 63,257$1.88M0.65%-5,223Timeline
TAT&T INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 66,642 shares; 2024Q4: 66,244 shares; 2025Q1: 65,344 shares 65,344$1.85M0.64%-900Timeline
FCCOFIRST CMNTY CORP S CQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 76,500 shares; 2024Q4: 76,500 shares; 2025Q1: 76,500 shares 76,500$1.73M0.6%0Timeline
TSNTYSON FOODS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 27,101 shares; 2024Q4: 26,251 shares; 2025Q1: 26,251 shares 26,251$1.68M0.58%0Timeline
FSBHFSBH CORP COMQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 210,000 shares; 2024Q4: 210,000 shares; 2025Q1: 210,000 shares 210,000$1.49M0.52%0Timeline
MNSBMAINSTREET BANCSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 126,870 shares; 2024Q4: 109,236 shares; 2025Q1: 86,297 shares 86,297$1.44M0.5%-22,939Timeline
PFISPEOPLES FINL SVCS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 29,486 shares; 2024Q4: 27,948 shares; 2025Q1: 27,948 shares 27,948$1.24M0.43%0Timeline
GDXVANECK ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,037 shares; 2024Q4: 31,212 shares; 2025Q1: 26,752 shares 26,752$1.23M0.43%-4,460Timeline
FISIFINANCIAL INSTITUTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 45,725 shares; 2024Q4: 45,725 shares; 2025Q1: 47,025 shares 47,025$1.17M0.41%+1,300Timeline
BANCBANC OF CALIFORNIA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 77,750 shares; 2024Q4: 77,750 shares; 2025Q1: 77,750 shares 77,750$1.1M0.38%0Timeline
EBMTEAGLE BANCORP MONT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 71,229 shares; 2024Q4: 65,634 shares; 2025Q1: 62,405 shares 62,405$1.05M0.36%-3,229Timeline
VOOVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,679 shares; 2024Q4: 1,972 shares; 2025Q1: 1,977 shares 1,977$1.02M0.35%+5Timeline
VGMINVESCO TR INVT GRADE MUNSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 86,117 shares; 2024Q4: 86,117 shares; 2025Q1: 86,117 shares 86,117$858K0.3%0Timeline
IFFINTERNATIONAL FLAVORS&FRAGRAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,881 shares; 2024Q4: 10,400 shares; 2025Q1: 10,400 shares 10,400$807K0.28%0Timeline
WIWWESTERN AST INFL LKD OPP & IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 82,070 shares; 2024Q4: 88,765 shares; 2025Q1: 90,665 shares 90,665$797K0.28%+1,900Timeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,336 shares; 2024Q4: 1,336 shares; 2025Q1: 1,330 shares 1,330$708K0.25%-6Timeline
SLBSLB LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 8,900 shares; 2025Q1: 16,844 shares 16,844$704K0.24%+7,944Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,182 shares; 2024Q4: 1,448 shares; 2025Q1: 1,783 shares 1,783$669K0.23%+335Timeline
CHART INDS INCCHART INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,810 shares; 2024Q4: 11,810 shares; 2025Q1: 11,810 shares 11,810$647K0.22%0
BANC CAL INC DEPSH REPSTG.2…BANC CAL INC DEPSH REPSTG.25 0Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 24,750 shares; 2024Q4: 24,400 shares; 2025Q1: 23,200 shares 23,200$579K0.2%-1,200
HWCHANCOCK WHITNEY CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,898 shares; 2024Q4: 10,898 shares; 2025Q1: 10,898 shares 10,898$572K0.2%0Timeline
MTBM & T BK CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,034 shares; 2024Q4: 3,179 shares; 2025Q1: 3,179 shares 3,179$568K0.2%0Timeline
CZBTCITIZENS BANCORP OF VIRGINIA IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,250 shares; 2024Q4: 20,250 shares; 2025Q1: 20,250 shares 20,250$553K0.19%0Timeline
SouthState CorpSouthState CorpQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,688 shares; 2024Q4: 5,688 shares; 2025Q1: 5,688 shares 5,688$528K0.18%0
ABBVABBVIE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,786 shares; 2024Q4: 2,400 shares; 2025Q1: 2,119 shares 2,119$444K0.15%-281Timeline
IUSVISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,567 shares; 2024Q4: 4,567 shares; 2025Q1: 4,567 shares 4,567$421K0.15%0Timeline
ORCLORACLE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 3,000 shares; 2025Q1: 3,000 shares 3,000$419K0.15%0Timeline
QABAFIRST TR EXCHANGE-TRADED FDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,057 shares; 2024Q4: 7,983 shares; 2025Q1: 7,909 shares 7,909$413K0.14%-74Timeline
CLVTCLARIVATE PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 128,466 shares; 2024Q4: 107,697 shares; 2025Q1: 103,178 shares 103,178$405K0.14%-4,519Timeline
SPYSTATE STR SPDR S&P 500 ETF TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 661 shares; 2024Q4: 660 shares; 2025Q1: 664 shares 664$372K0.13%+4Timeline
KRKROGER COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,162 shares; 2024Q4: 5,162 shares; 2025Q1: 5,162 shares 5,162$349K0.12%0Timeline
JPMJPMORGAN CHASE & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 500 shares; 2024Q4: 1,188 shares; 2025Q1: 1,310 shares 1,310$321K0.11%+122Timeline
SBCFSEACOAST BKG CORP FLAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,826 shares; 2024Q4: 10,826 shares; 2025Q1: 10,826 shares 10,826$279K0.1%0Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,050 shares; 2024Q4: 780 shares; 2025Q1: 1,125 shares 1,125$214K0.07%+345Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 654 shares; 2024Q4: 654 shares; 2025Q1: 1,229 shares 1,229$190K0.07%+575Timeline
ALBEMARLE CORPALBEMARLE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,725 shares; 2024Q4: 5,125 shares; 2025Q1: 5,125 shares 5,125$183K0.06%0
FRAFFRANKLIN FINL SVCS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 21,173 shares; 2024Q4: 6,909 shares; 2025Q1: 4,400 shares 4,400$156K0.05%-2,509Timeline
AGIALAMOS GOLD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 5,832 shares; 2025Q1: 5,832 shares 5,832$156K0.05%0Timeline
IBMINTERNATIONAL BUSINESS MACHSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 611 shares; 2024Q4: 611 shares; 2025Q1: 611 shares 611$152K0.05%0Timeline
JCIJOHNSON CONTROLS INTERNATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,648 shares; 2024Q4: 1,648 shares; 2025Q1: 1,842 shares 1,842$148K0.05%+194Timeline
XOMEXXON MOBIL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,021 shares; 2025Q1: 1,225 shares 1,225$146K0.05%+204Timeline
DUKDUKE ENERGY CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,050 shares; 2025Q1: 1,105 shares 1,105$135K0.05%+55Timeline
COSTCOSTCO WHOLESALE CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 132 shares 132$125K0.04%newTimeline
QQQINVESCO QQQ TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 200 shares; 2025Q1: 264 shares 264$124K0.04%+64Timeline
WMTWALMART INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,385 shares 1,385$122K0.04%newTimeline
SCHFSCHWAB STRATEGIC TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,000 shares; 2024Q4: 6,000 shares; 2025Q1: 6,000 shares 6,000$119K0.04%0Timeline
SOSOUTHERN COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,258 shares 1,258$116K0.04%newTimeline
IWSISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 886 shares; 2024Q4: 886 shares; 2025Q1: 886 shares 886$112K0.04%0Timeline
IEIISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 902 shares 902$107K0.04%newTimeline
SHYISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,286 shares 1,286$106K0.04%newTimeline
LOWLOWES COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 420 shares; 2024Q4: 420 shares; 2025Q1: 442 shares 442$103K0.04%+22Timeline

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
CTO REALTY GROWTH INCCTO REALTY GROWTH INC CORPprincipal6,049,000$8.44M0
PPL CAP FDG INCPPL CAP FDG INC NOTE 2.875% 3/1principal6,380,000$7.14M-55,000
JAZZ INVESTMENTS I LTDJAZZ INVESTMENTS I LTD NOTE 2.000% 6/1principal5,780,000$5.98M0
INNOVIVA INCINNOVIVA INC NOTE 2.125% 3/1principal4,395,000$4.23M+3,795,000
LIBERTY MEDIA CORP DELLIBERTY MEDIA CORP DEL NOTE 2.250% 8/1principal2,395,000$2.91M-65,000
GUESS INCGUESS INC BONDprincipal3,075,000$2.82M+311,000
DUKE ENERGY CORP NEWDUKE ENERGY CORP NEW CONV BNDprincipal2,145,000$2.32M-10,000
FORD MOTOR COMPANYFORD MOTOR COMPANY NOTE 3/1principal2,350,000$2.3M0
HCI GROUP INCHCI GROUP INC NOTE 4.750% 6/0principal1,205,000$2.24M-870,000
ETSY INCETSY INC NOTE 0.125% 9/0principal1,980,000$1.74M0
SIRIUSXM HOLDINGS INCSIRIUSXM HOLDINGS INC NOTE 3.750% 3/1principal1,400,000$1.45M0
LCI INDSLCI INDS NOTE 1.125% 5/1principal1,420,000$1.39M0
PROGRESS SOFTWARE CORPPROGRESS SOFTWARE CORP NOTE 3.500% 3/0principal1,300,000$1.36Mnew
ALLIANT ENERGY CORPALLIANT ENERGY CORP NOTE 3.875% 3/1principal965,000$1.03M-35,000
STARWOOD PPTY TR INCSTARWOOD PPTY TR INC NOTE 6.750% 7/1principal975,000$1.03M0
AIRBNB INC CLASS AAIRBNB INC CLASS A CLASS Aprincipal990,000$945K0
VISHAY INTERTECHNOLOGY INCVISHAY INTERTECHNOLOGY INC NOTE 2.250% 9/1principal865,000$763K0
AMPHASTAR PHARMACEUTICALS INAMPHASTAR PHARMACEUTICALS IN NOTE 2.000% 3/1principal515,000$457Knew
NRG ENERGY INCNRG ENERGY INC DBCV 2.750% 6/0principal170,000$396K-270,000
PEBBLEBROOK HOTEL TRPEBBLEBROOK HOTEL TR NOTE 1.750%12/1principal300,000$280K0
EXPEDIA GROUP INCEXPEDIA GROUP INC NOTE 2/1principal245,000$241K-30,000
VISHAY INTERTECHNOLOGY INCVISHAY INTERTECHNOLOGY INC NOTE 2.250% 6/1principal164,000$161K0
GREENBRIER COS INCGREENBRIER COS INC NOTE 2.875% 4/1principal117,000$129K0
HALOZYME THERAPEUTICS INCHALOZYME THERAPEUTICS INC NOTE 0.250% 3/0principal110,000$116K0

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
INNOVIVA INCINNOVIVA INC3,805,000$4.18Mprincipal
EURONET WORLDWIDE INCEURONET WORLDWIDE INC1,988,000$1.97Mprincipal
BRBSBLUE RIDGE BANKSHARES INC VA160,000$515Kshares
TOTALENERGIES SE -SPON ADRTOTALENERGIES SE -SPON ADR6,082$331Kshares
SPOTIFY USA INCSPOTIFY USA INC290,000$308Kprincipal
CHEGG INCCHEGG INC290,000$281Kprincipal
MCHENRY BANCMCHENRY BANC33,515$251Kshares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001353098-25-000004 base2025-05-14acceptance time not in the bulk data set