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Cutler Capital Management, LLC

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13F filer, CIK 1353098, WORCESTER, MA

Cutler Capital Management, LLC reported $287,405,158 across 116 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-13. Its ten largest share positions make up 32.88% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001353098-25-000005

Period
2025-06-30
Reported value
$287M
Holdings
116
Top 10 weight
32.88%
New
9
Sold out
10

Largest buys vs the previous quarter

SecurityShares changeApprox. value
CTOadded+450,162$7.77M
HCInew+15,292$2.33M
ESnew+24,747$1.57M
SPYMnew+10,150$738K
ENRadded+21,351$430K

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
CNHreduced-151,296-$1.96M
MNSBexited-86,297-$1.44M
EBMTreduced-43,405-$724K
ETreduced-22,852-$414K
SOBSreduced-14,142-$410K

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, Q2 2025

Share positions as resolved from 13F-HR 0001353098-25-000005, largest first. % of portfolio is the value over $287,405,158, 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; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 148,007 shares; 2024Q4: 141,436 shares; 2025Q1: 134,972 shares; 2025Q2: 131,727 shares 131,727$15.7M5.45%-3,245Timeline
METMETLIFE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 166,493 shares; 2024Q4: 165,889 shares; 2025Q1: 166,181 shares; 2025Q2: 164,983 shares 164,983$13.3M4.62%-1,198Timeline
CTOCTO RLTY GROWTH INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 176,166 shares; 2024Q4: 179,766 shares; 2025Q1: 191,892 shares; 2025Q2: 642,054 shares 642,054$11.1M3.86%+450,162Timeline
TSBKTIMBERLAND BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 300,162 shares; 2024Q4: 299,001 shares; 2025Q1: 298,801 shares; 2025Q2: 298,395 shares 298,395$9.31M3.24%-406Timeline
EXSREXCHANGE BK SANTA ROSA CALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 76,254 shares; 2024Q4: 76,054 shares; 2025Q1: 76,054 shares; 2025Q2: 76,054 shares 76,054$8.02M2.79%0Timeline
FBIZFIRST BUSINESS FINL SVCS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 153,499 shares; 2024Q4: 153,199 shares; 2025Q1: 155,399 shares; 2025Q2: 155,799 shares 155,799$7.89M2.75%+400Timeline
SHELSHELL PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 109,932 shares; 2024Q4: 110,826 shares; 2025Q1: 111,056 shares; 2025Q2: 110,656 shares 110,656$7.79M2.71%-400Timeline
SBFGSB FINL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 399,154 shares; 2024Q4: 392,556 shares; 2025Q1: 392,556 shares; 2025Q2: 391,983 shares 391,983$7.49M2.6%-573Timeline
ETENERGY TRANSFER L PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 456,077 shares; 2024Q4: 441,474 shares; 2025Q1: 416,471 shares; 2025Q2: 393,619 shares 393,619$7.14M2.48%-22,852Timeline
BGBUNGE GLOBAL SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 81,664 shares; 2024Q4: 82,237 shares; 2025Q1: 80,750 shares; 2025Q2: 79,964 shares 79,964$6.42M2.23%-786Timeline
FENYFIDELITY COVINGTON TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 261,493 shares; 2024Q4: 263,905 shares; 2025Q1: 263,510 shares; 2025Q2: 270,509 shares 270,509$6.34M2.21%+6,999Timeline
PKBKPARKE BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 309,532 shares; 2024Q4: 308,932 shares; 2025Q1: 308,932 shares; 2025Q2: 309,657 shares 309,657$6.31M2.19%+725Timeline
PFEPFIZER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 242,744 shares; 2024Q4: 246,894 shares; 2025Q1: 250,397 shares; 2025Q2: 250,893 shares 250,893$6.08M2.12%+496Timeline
KIMCO REALTY CORPKIMCO REALTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 91,565 shares; 2024Q4: 91,565 shares; 2025Q1: 90,923 shares; 2025Q2: 90,465 shares 90,465$5.48M1.91%-458
VICIVICI PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 155,223 shares; 2024Q4: 163,969 shares; 2025Q1: 165,232 shares; 2025Q2: 166,133 shares 166,133$5.42M1.88%+901Timeline
BMBNBENCHMARK BANKSHARES INC (VA)Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 164,500 shares; 2024Q4: 166,900 shares; 2025Q1: 167,800 shares; 2025Q2: 170,982 shares 170,982$4.99M1.74%+3,182Timeline
LFGPLedyard Financial Group, Inc.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 327,496 shares; 2024Q4: 326,596 shares; 2025Q1: 326,121 shares; 2025Q2: 326,121 shares 326,121$4.68M1.63%0Timeline
MRKMERCK & CO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 61,501 shares; 2024Q4: 58,025 shares; 2025Q1: 57,731 shares; 2025Q2: 58,031 shares 58,031$4.59M1.6%+300Timeline
VTRSVIATRIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 472,307 shares; 2024Q4: 465,910 shares; 2025Q1: 464,910 shares; 2025Q2: 463,910 shares 463,910$4.14M1.44%-1,000Timeline
WYWEYERHAEUSER COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 149,924 shares; 2024Q4: 151,661 shares; 2025Q1: 158,888 shares; 2025Q2: 159,240 shares 159,240$4.09M1.42%+352Timeline
BORTBANK OF BOTETOURT BUCHANAN VAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 104,974 shares; 2024Q4: 104,474 shares; 2025Q1: 104,474 shares; 2025Q2: 112,674 shares 112,674$3.97M1.38%+8,200Timeline
FXNCFIRST NATL CORP VAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 202,785 shares; 2024Q4: 202,785 shares; 2025Q1: 202,785 shares; 2025Q2: 202,785 shares 202,785$3.95M1.37%0Timeline
VZVERIZON COMMUNICATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 71,037 shares; 2024Q4: 86,819 shares; 2025Q1: 88,135 shares; 2025Q2: 88,596 shares 88,596$3.83M1.33%+461Timeline
PTBSPOTOMAC BANCSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 194,468 shares; 2024Q4: 195,068 shares; 2025Q1: 211,168 shares; 2025Q2: 220,368 shares 220,368$3.83M1.33%+9,200Timeline
FLG-PUFLAGSTAR BANK NATIONAL ASSOCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 104,295 shares; 2024Q4: 98,312 shares; 2025Q1: 98,312 shares; 2025Q2: 97,812 shares 97,812$3.76M1.31%-500Timeline
CPKFCHESAPEAKE FINL SHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 173,000 shares; 2024Q4: 173,000 shares; 2025Q1: 173,000 shares; 2025Q2: 173,000 shares 173,000$3.61M1.26%0Timeline
ALRSALERUS FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 158,972 shares; 2024Q4: 158,972 shares; 2025Q1: 158,972 shares; 2025Q2: 156,000 shares 156,000$3.38M1.17%-2,972Timeline
APLEAPPLE HOSPITALITY REIT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 242,701 shares; 2024Q4: 268,970 shares; 2025Q1: 280,870 shares; 2025Q2: 283,770 shares 283,770$3.31M1.15%+2,900Timeline
GLOBAL MED REIT INCGLOBAL MED REIT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 448,903 shares; 2024Q4: 450,279 shares; 2025Q1: 457,038 shares; 2025Q2: 472,938 shares 472,938$3.28M1.14%+15,900
CWBCCOMMUNITY WEST BANCSHARES NEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 162,061 shares; 2025Q1: 162,061 shares; 2025Q2: 162,061 shares 162,061$3.16M1.1%0Timeline
CSBBCSB BANCORP INC (OH)Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 69,850 shares; 2024Q4: 70,500 shares; 2025Q1: 69,000 shares; 2025Q2: 69,000 shares 69,000$3M1.04%0Timeline
ACIALBERTSONS COMPANIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 136,164 shares; 2024Q4: 133,062 shares; 2025Q1: 131,762 shares; 2025Q2: 134,687 shares 134,687$2.9M1.01%+2,925Timeline
FMBMF & M BANK CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 133,939 shares; 2024Q4: 133,939 shares; 2025Q1: 136,814 shares; 2025Q2: 136,814 shares 136,814$2.87M1%0Timeline
SFLSFL CORPORATION LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 312,463 shares; 2024Q4: 349,683 shares; 2025Q1: 340,289 shares; 2025Q2: 338,792 shares 338,792$2.82M0.98%-1,497Timeline
AIGAMERICAN INTL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 32,500 shares; 2024Q4: 32,600 shares; 2025Q1: 32,800 shares; 2025Q2: 32,800 shares 32,800$2.81M0.98%0Timeline
MFGIMERCHANTS FINANCIAL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 92,500 shares; 2024Q4: 93,700 shares; 2025Q1: 93,700 shares; 2025Q2: 93,700 shares 93,700$2.35M0.82%0Timeline
HCIHCI GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 15,292 shares 15,292$2.33M0.81%newTimeline
LXPLXP INDUSTRIAL TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 256,981 shares; 2024Q4: 267,481 shares; 2025Q1: 272,284 shares; 2025Q2: 276,139 shares 276,139$2.28M0.79%+3,855Timeline
ENRENERGIZER HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 90,587 shares; 2024Q4: 88,437 shares; 2025Q1: 91,042 shares; 2025Q2: 112,393 shares 112,393$2.27M0.79%+21,351Timeline
CNHCNH INDL N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 314,840 shares; 2024Q4: 325,159 shares; 2025Q1: 324,859 shares; 2025Q2: 173,563 shares 173,563$2.25M0.78%-151,296Timeline
ABCBAMERIS BANCORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 36,473 shares; 2024Q4: 33,959 shares; 2025Q1: 33,759 shares; 2025Q2: 34,459 shares 34,459$2.23M0.78%+700Timeline
MOATVANECK ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,899 shares; 2024Q4: 22,138 shares; 2025Q1: 22,743 shares; 2025Q2: 23,063 shares 23,063$2.16M0.75%+320Timeline
EPR PPTYSEPR PPTYSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 89,545 shares; 2024Q4: 89,245 shares; 2025Q1: 82,745 shares; 2025Q2: 81,995 shares 81,995$2.05M0.71%-750
TAT&T INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 66,642 shares; 2024Q4: 66,244 shares; 2025Q1: 65,344 shares; 2025Q2: 65,344 shares 65,344$1.89M0.66%0Timeline
FCCOFIRST CMNTY CORP S CQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 76,500 shares; 2024Q4: 76,500 shares; 2025Q1: 76,500 shares; 2025Q2: 76,500 shares 76,500$1.87M0.65%0Timeline
FSBHFSBH CORP COMQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 210,000 shares; 2024Q4: 210,000 shares; 2025Q1: 210,000 shares; 2025Q2: 210,000 shares 210,000$1.8M0.62%0Timeline
ESEVERSOURCE ENERGYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 24,747 shares 24,747$1.57M0.55%newTimeline
TSNTYSON FOODS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 27,101 shares; 2024Q4: 26,251 shares; 2025Q1: 26,251 shares; 2025Q2: 27,251 shares 27,251$1.52M0.53%+1,000Timeline
SOBSSOLVAY BK CORP SOLVAY NEW YORKQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 71,180 shares; 2024Q4: 68,480 shares; 2025Q1: 63,257 shares; 2025Q2: 49,115 shares 49,115$1.42M0.5%-14,142Timeline
PFISPEOPLES FINL SVCS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 29,486 shares; 2024Q4: 27,948 shares; 2025Q1: 27,948 shares; 2025Q2: 27,948 shares 27,948$1.38M0.48%0Timeline
GDXVANECK ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,037 shares; 2024Q4: 31,212 shares; 2025Q1: 26,752 shares; 2025Q2: 24,452 shares 24,452$1.27M0.44%-2,300Timeline
FISIFINANCIAL INSTITUTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 45,725 shares; 2024Q4: 45,725 shares; 2025Q1: 47,025 shares; 2025Q2: 47,925 shares 47,925$1.23M0.43%+900Timeline
BANCBANC OF CALIFORNIA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 77,750 shares; 2024Q4: 77,750 shares; 2025Q1: 77,750 shares; 2025Q2: 77,750 shares 77,750$1.09M0.38%0Timeline
WIWWESTERN AST INFL LKD OPP & IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 82,070 shares; 2024Q4: 88,765 shares; 2025Q1: 90,665 shares; 2025Q2: 101,492 shares 101,492$889K0.31%+10,827Timeline
VOOVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,679 shares; 2024Q4: 1,972 shares; 2025Q1: 1,977 shares; 2025Q2: 1,529 shares 1,529$868K0.3%-448Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,182 shares; 2024Q4: 1,448 shares; 2025Q1: 1,783 shares; 2025Q2: 1,674 shares 1,674$833K0.29%-109Timeline
SLBSLB LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 8,900 shares; 2025Q1: 16,844 shares; 2025Q2: 24,344 shares 24,344$823K0.29%+7,500Timeline
VGMINVESCO TR INVT GRADE MUNSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 86,117 shares; 2024Q4: 86,117 shares; 2025Q1: 86,117 shares; 2025Q2: 86,117 shares 86,117$817K0.28%0Timeline
SPYMSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 10,150 shares 10,150$738K0.26%newTimeline
IFFINTERNATIONAL FLAVORS&FRAGRAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,881 shares; 2024Q4: 10,400 shares; 2025Q1: 10,400 shares; 2025Q2: 9,801 shares 9,801$721K0.25%-599Timeline
CHART INDS INCCHART INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,810 shares; 2024Q4: 11,810 shares; 2025Q1: 11,810 shares; 2025Q2: 11,810 shares 11,810$713K0.25%0
CZBTCITIZENS BANCORP OF VIRGINIA IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,250 shares; 2024Q4: 20,250 shares; 2025Q1: 20,250 shares; 2025Q2: 20,250 shares 20,250$668K0.23%0Timeline
ORCLORACLE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 3,000 shares; 2025Q1: 3,000 shares; 2025Q2: 3,000 shares 3,000$656K0.23%0Timeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,336 shares; 2024Q4: 1,336 shares; 2025Q1: 1,330 shares; 2025Q2: 1,330 shares 1,330$646K0.22%0Timeline
HWCHANCOCK WHITNEY CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,898 shares; 2024Q4: 10,898 shares; 2025Q1: 10,898 shares; 2025Q2: 10,898 shares 10,898$626K0.22%0Timeline
MTBM & T BK CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,034 shares; 2024Q4: 3,179 shares; 2025Q1: 3,179 shares; 2025Q2: 3,179 shares 3,179$617K0.21%0Timeline
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; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 24,750 shares; 2024Q4: 24,400 shares; 2025Q1: 23,200 shares; 2025Q2: 25,050 shares 25,050$604K0.21%+1,850
SouthState CorpSouthState CorpQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,688 shares; 2024Q4: 5,688 shares; 2025Q1: 5,688 shares; 2025Q2: 5,688 shares 5,688$523K0.18%0
IUSVISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,567 shares; 2024Q4: 4,567 shares; 2025Q1: 4,567 shares; 2025Q2: 4,567 shares 4,567$432K0.15%0Timeline
CLVTCLARIVATE PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 128,466 shares; 2024Q4: 107,697 shares; 2025Q1: 103,178 shares; 2025Q2: 90,488 shares 90,488$389K0.14%-12,690Timeline
QABAFIRST TR EXCHANGE-TRADED FDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,057 shares; 2024Q4: 7,983 shares; 2025Q1: 7,909 shares; 2025Q2: 6,974 shares 6,974$378K0.13%-935Timeline
KRKROGER COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,162 shares; 2024Q4: 5,162 shares; 2025Q1: 5,162 shares; 2025Q2: 5,162 shares 5,162$370K0.13%0Timeline
ABBVABBVIE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,786 shares; 2024Q4: 2,400 shares; 2025Q1: 2,119 shares; 2025Q2: 1,907 shares 1,907$354K0.12%-212Timeline
JPMJPMORGAN CHASE & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 500 shares; 2024Q4: 1,188 shares; 2025Q1: 1,310 shares; 2025Q2: 1,188 shares 1,188$344K0.12%-122Timeline
EBMTEAGLE BANCORP MONT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 71,229 shares; 2024Q4: 65,634 shares; 2025Q1: 62,405 shares; 2025Q2: 19,000 shares 19,000$317K0.11%-43,405Timeline
SPYSTATE STR SPDR S&P 500 ETF TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 661 shares; 2024Q4: 660 shares; 2025Q1: 664 shares; 2025Q2: 504 shares 504$311K0.11%-160Timeline
SBCFSEACOAST BKG CORP FLAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,826 shares; 2024Q4: 10,826 shares; 2025Q1: 10,826 shares; 2025Q2: 10,826 shares 10,826$299K0.1%0Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,050 shares; 2024Q4: 780 shares; 2025Q1: 1,125 shares; 2025Q2: 1,125 shares 1,125$247K0.09%0Timeline
FBTCFIDELITY WISE ORIGIN BITCOINQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 2,555 shares 2,555$240K0.08%newTimeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 654 shares; 2024Q4: 654 shares; 2025Q1: 1,229 shares; 2025Q2: 1,229 shares 1,229$217K0.08%0Timeline
JCIJOHNSON CONTROLS INTERNATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,648 shares; 2024Q4: 1,648 shares; 2025Q1: 1,842 shares; 2025Q2: 1,842 shares 1,842$195K0.07%0Timeline
AGIALAMOS GOLD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 5,832 shares; 2025Q1: 5,832 shares; 2025Q2: 6,832 shares 6,832$181K0.06%+1,000Timeline
IBMINTERNATIONAL BUSINESS MACHSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 611 shares; 2024Q4: 611 shares; 2025Q1: 611 shares; 2025Q2: 611 shares 611$180K0.06%0Timeline
SKESKEENA RES LTD NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 10,500 shares 10,500$167K0.06%newTimeline
ALBEMARLE CORPALBEMARLE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,725 shares; 2024Q4: 5,125 shares; 2025Q1: 5,125 shares; 2025Q2: 5,125 shares 5,125$165K0.06%0
FRAFFRANKLIN FINL SVCS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 21,173 shares; 2024Q4: 6,909 shares; 2025Q1: 4,400 shares; 2025Q2: 4,400 shares 4,400$152K0.05%0Timeline
SCHFSCHWAB STRATEGIC TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,000 shares; 2024Q4: 6,000 shares; 2025Q1: 6,000 shares; 2025Q2: 6,000 shares 6,000$133K0.05%0Timeline
XOMEXXON MOBIL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,021 shares; 2025Q1: 1,225 shares; 2025Q2: 1,225 shares 1,225$132K0.05%0Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 570 shares 570$129K0.04%newTimeline
DUKDUKE ENERGY CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,050 shares; 2025Q1: 1,105 shares; 2025Q2: 1,086 shares 1,086$128K0.04%-19Timeline
MOTGVANECK ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 2,925 shares 2,925$124K0.04%newTimeline
GLDSPDR GOLD TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 395 shares 395$120K0.04%newTimeline
QQQINVESCO QQQ TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 200 shares; 2025Q1: 264 shares; 2025Q2: 216 shares 216$119K0.04%-48Timeline
IWSISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 886 shares; 2024Q4: 886 shares; 2025Q1: 886 shares; 2025Q2: 886 shares 886$117K0.04%0Timeline
SHYISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,286 shares; 2025Q2: 1,286 shares 1,286$107K0.04%0Timeline
RSPINVESCO EXCHANGE TRADED FD TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 560 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 560 shares 560$102K0.04%newTimeline

Principal amounts

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

SecurityTypeAmountValueChange
PPL CAP FDG INCPPL CAP FDG INC NOTE 2.875% 3/1principal6,330,000$6.84M-50,000
JAZZ INVESTMENTS I LTDJAZZ INVESTMENTS I LTD NOTE 2.000% 6/1principal5,730,000$5.78M-50,000
INNOVIVA INCINNOVIVA INC NOTE 2.125% 3/1principal4,340,000$4.33M-55,000
LIBERTY MEDIA CORP DELLIBERTY MEDIA CORP DEL NOTE 2.250% 8/1principal2,360,000$3.14M-35,000
GUESS INCGUESS INC BONDprincipal3,010,000$2.85M-65,000
SIRIUSXM HOLDINGS INCSIRIUSXM HOLDINGS INC NOTE 3.750% 3/1principal2,538,000$2.64M+1,138,000
DUKE ENERGY CORP NEWDUKE ENERGY CORP NEW CONV BNDprincipal2,145,000$2.27M0
FORD MOTOR COMPANYFORD MOTOR COMPANY NOTE 3/1principal2,275,000$2.25M-75,000
ETSY INCETSY INC NOTE 0.125% 9/0principal1,950,000$1.74M-30,000
AIRBNB INC CLASS AAIRBNB INC CLASS A CLASS Aprincipal1,630,000$1.57M+640,000
PROGRESS SOFTWARE CORPPROGRESS SOFTWARE CORP NOTE 3.500% 3/0principal1,290,000$1.49M-10,000
LCI INDSLCI INDS NOTE 1.125% 5/1principal1,390,000$1.34M-30,000
AMPHASTAR PHARMACEUTICALS INAMPHASTAR PHARMACEUTICALS IN NOTE 2.000% 3/1principal1,300,000$1.12M+785,000
STARWOOD PPTY TR INCSTARWOOD PPTY TR INC NOTE 6.750% 7/1principal945,000$1.01M-30,000
ALLIANT ENERGY CORPALLIANT ENERGY CORP NOTE 3.875% 3/1principal965,000$991K0
VISHAY INTERTECHNOLOGY INCVISHAY INTERTECHNOLOGY INC NOTE 2.250% 9/1principal855,000$765K-10,000
PEBBLEBROOK HOTEL TRPEBBLEBROOK HOTEL TR NOTE 1.750%12/1principal300,000$284K0
EXPEDIA GROUP INCEXPEDIA GROUP INC NOTE 2/1principal245,000$238K0
GREENBRIER COS INCGREENBRIER COS INC NOTE 2.875% 4/1principal117,000$124K0
HALOZYME THERAPEUTICS INCHALOZYME THERAPEUTICS INC NOTE 0.250% 3/0principal110,000$109K0

Sold out in Q2 2025

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

SecurityShares beforeValue beforeType
CTO REALTY GROWTH INCCTO REALTY GROWTH INC6,049,000$8.44Mprincipal
HCI GROUP INCHCI GROUP INC1,205,000$2.24Mprincipal
MNSBMAINSTREET BANCSHARES INC86,297$1.44Mshares
NRG ENERGY INCNRG ENERGY INC170,000$396Kprincipal
VISHAY INTERTECHNOLOGY INCVISHAY INTERTECHNOLOGY INC164,000$161Kprincipal
COSTCOSTCO WHOLESALE CORPORATION132$125Kshares
WMTWALMART INC1,385$122Kshares
SOSOUTHERN CO1,258$116Kshares
IEIISHARES TR902$107Kshares
LOWLOWES COS INC442$103Kshares

How Q2 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 0001353098-25-000005 base2025-08-13acceptance time not in the bulk data set