Cutler Capital Management, LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 14, 2024), Cutler Capital Management, LLC reported 84 stock positions worth $205.6 million. Its top holding was Metlife (MET) at 6.2% of the portfolio, followed by Agnico Eagle Mines (AEM, 4.3%) and Merck (MRK, 4.2%). Compared with Q4 2023, it opened 11 new positions, sold out of 6, added to 43 and reduced 19. The biggest buy was Metlife (MET, shares +0%) and the biggest sale an exit from Bankflorida Bancorp (BKFL).
- Most Recent 13F
- Q2 2026
- Location
- WORCESTER, MA
- CIK
- 0001353098
- Portfolio Value
- $205.6M (Q1 2024)
- SEC Filing
- 0001353098-24-000007 ↗ filed May 14, 2024
Holdings Value
Holdings 84 stocks · $205.6M
| MET Metlife Inc. | 6.19% | 171,626 | $12.7M | Add +0.1% |
| AEM Agnico Eagle Mines Ltd. | 4.31% | 148,426 | $8.9M | Add +2.3% |
| MRK Merck & Co. Inc. | 4.17% | 64,964 | $8.6M | Reduce -0.8% |
| BG Bunge Global SA | 4.00% | 80,161 | $8.2M | Add +0.9% |
| TSBK Timberland Bancorp Inc. | 3.90% | 298,141 | $8.0M | Add +2.2% |
| EXSR Exchange Bank Santa Rosa Cal | 3.86% | 76,254 | $7.9M | Reduce -0.3% |
| SHEL Shell PLC-ADR | 3.53% | 108,258 | $7.3M | Add +0.8% |
| ET Energy Transfer LP | 3.44% | 449,503 | $7.1M | Add +1.9% |
| PFE Pfizer Inc. | 3.13% | 232,128 | $6.4M | Add +3.3% |
| FENY Fidelity MSCI Energy Index | 3.06% | 243,413 | $6.3M | Add +5.2% |
| FBIZ First Business Financial Ser | 2.79% | 152,863 | $5.7M | Add +0.2% |
| VTRS Viatris Inc. | 2.74% | 472,604 | $5.6M | Add +2.2% |
| SBFG SB Financial Group Inc. filed as SB FINL GROUP INC | 2.68% | 400,312 | $5.5M | Add +0.0% |
| WY Weyerhaeuser Co. | 2.64% | 150,914 | $5.4M | Add +0.3% |
| PKBK Parke Bancorp Inc. | 2.58% | 308,071 | $5.3M | Add +0.1% |
| LFGP Ledyard Financial Group Inc. | 2.45% | 329,146 | $5.0M | Reduce -0.7% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 1.91% | 131,931 | $3.9M | Add +5.0% |
| XRN Global Medical REIT Inc. | 1.83% | 430,444 | $3.8M | Add +4.0% |
| ALRS Alerus Financial Corp. | 1.68% | 158,201 | $3.5M | Add +0.5% |
| BMBN Benchmark Bankshares Inc. | 1.65% | 159,000 | $3.4M | Add +11.2% |
| CWBC Community West Bancshares | 1.59% | 211,520 | $3.3M | Reduce -9.9% |
| FXNC First National Corp. | 1.59% | 201,058 | $3.3M | Reduce -0.8% |
| CPKF Chesapeake Finl SHS Inc. | 1.49% | 173,000 | $3.1M | No change |
| BORT Bank of Botetourt Buchanan V filed as BANK BOTETOURT | 1.45% | 104,974 | $3.0M | Add +1.1% |
| ACI Albertsons Cos Inc. Class A | 1.42% | 135,969 | $2.9M | Add +7.9% |
| CSBB CSB Bancorp Inc. | 1.36% | 69,850 | $2.8M | Add +0.7% |
| PTBS Potomac Bancshares Inc. | 1.35% | 185,868 | $2.8M | Add +0.9% |
| SFL SFL Corp. Ltd. | 1.31% | 204,690 | $2.7M | Reduce -0.4% |
| CTO Cto Realty Growth Inc. filed as CTO RLTY GROWTH INC NEW | 1.29% | 156,969 | $2.7M | Add +14.8% |
| VZ Verizon Communications Inc. | 1.28% | 62,721 | $2.6M | Add +0.9% |
| APLE Apple Hospitality REIT Inc. | 1.24% | 155,223 | $2.5M | Add +16.6% |
| AIG American International Group | 1.24% | 32,500 | $2.5M | No change |
| ENR Energizer Holdings Inc. | 1.20% | 83,971 | $2.5M | Reduce -1.4% |
| LXP LXP Industrial Trust | 1.14% | 260,774 | $2.4M | Reduce -0.3% |
| FMBM F & M Bank Corp. filed as F&M BANCORP | 1.12% | 133,914 | $2.3M | No change |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 1.07% | 25,602 | $2.2M | Reduce -1.4% |
| MNSB Mainstreet Bancshares Inc. | 1.04% | 118,296 | $2.1M | Add +7.3% |
| SOBS Solvay Bank Solvay N Y | 0.93% | 72,895 | $1.9M | Reduce -0.4% |
| ABCB Ameris Bancorp | 0.89% | 37,750 | $1.8M | Reduce -10.4% |
| MFGI Merchants Financial Group Inc. | 0.84% | 73,000 | $1.7M | Add +1.0% |
| FSBH FSBH Corp. | 0.82% | 210,000 | $1.7M | Add +10.7% |
| TSN Tyson Foods Inc. Class A | 0.79% | 27,824 | $1.6M | Reduce -0.3% |
| MOAT Vaneck Morningstar Wide Moat | 0.71% | 16,234 | $1.5M | Add +10.2% |
| VOO Vanguard S&P 500 ETF | 0.68% | 2,928 | $1.4M | Add +19.9% |
| FCCO First Community Corp. | 0.65% | 76,500 | $1.3M | No change |
| FNCB FNCB Bancorp Inc. | 0.63% | 212,447 | $1.3M | Reduce -1.6% |
| MCHN McHenry Bancorp Inc. | 0.62% | 33,515 | $1.3M | New |
| T AT&T Inc. | 0.57% | 67,027 | $1.2M | Reduce -0.7% |
| BANC Banc of California Inc. | 0.52% | 69,750 | $1.1M | Add +46.1% |
| EBMT Eagle Bancorp Montana Inc. | 0.44% | 70,985 | $911K | Add +0.3% |
| FISI Financial Institutions Inc. | 0.42% | 45,683 | $860K | Add +0.1% |
| GDX Vaneck Gold Miners ETF | 0.41% | 26,987 | $853K | Add +14.0% |
| VGM Invesco Trust for Investmen | 0.41% | 86,117 | $849K | No change |
| TTE Totalenergies SE -Spon ADR | 0.40% | 12,000 | $826K | New |
| ABBV Abbvie Inc. | 0.34% | 3,849 | $701K | Add +0.9% |
| MPT Medical Properties Trust Inc. | 0.34% | 148,610 | $698K | Add +4.7% |
| FRAF Franklin Financial Services | 0.30% | 23,907 | $626K | Reduce -1.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.27% | 1,336 | $562K | No change |
| FLIC First of Long Island Corp. filed as FIRST LONG IS CORP | 0.26% | 48,137 | $534K | Add +0.9% |
| MSFT Microsoft Corp. | 0.25% | 1,241 | $522K | Add +18.0% |
| HWC Hancock Whitney Corp. | 0.24% | 10,802 | $497K | Add +0.7% |
| SSB Southstate Bank Corp. | 0.23% | 5,654 | $481K | Add +0.6% |
| CZBT Citizens Bancorp of Virginia | 0.23% | 18,650 | $480K | No change |
| MTB M & T Bank Corp. filed as M & T BK CORP | 0.21% | 3,035 | $441K | Add +0.9% |
| IUSV iShares Core S&P U.S. Value | 0.20% | 4,550 | $412K | Reduce -5.2% |
| QABA First Trust Nasdaq Aba Cbif | 0.20% | 8,804 | $410K | Reduce -1.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.17% | 660 | $345K | No change |
| SBCF Seacoast Banking Corp. | 0.13% | 10,826 | $275K | Add +0.7% |
| KR Kroger Co. | 0.12% | 4,157 | $238K | Add +0.2% |
| BRBS Blue Ridge Bankshares Inc. | 0.11% | 84,195 | $226K | Add +26.8% |
| SCHV Schwab US Large-Cap Value | 0.11% | 2,967 | $225K | Reduce -19.1% |
| TGNA Tegna Inc. | 0.09% | 12,800 | $191K | New |
| CNH CNH Industrial NV | 0.08% | 12,500 | $162K | New |
| AMZN Amazon.com Inc. | 0.08% | 880 | $159K | No change |
| SCHF Schwab Intl Equity ETF | 0.07% | 3,779 | $147K | No change |
| TV Grupo Televisa SA-Spon ADR | 0.06% | 40,800 | $131K | New |
| MOTG Vaneck Mstar GL Wide Moat | 0.06% | 3,225 | $118K | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.06% | 611 | $117K | New |
| WIW Western Asst Infl-LNK Opp | 0.06% | 13,276 | $115K | New |
| IWS iShares Russell Mid-Cap Valu | 0.05% | 886 | $111K | New |
| WBD Warner Bros Discovery Inc. | 0.05% | 12,463 | $109K | Reduce -1.4% |
| LOW Lowe's Cos Inc. | 0.05% | 420 | $107K | New |
| JCI Johnson Controls Internation | 0.05% | 1,538 | $100K | New |
| JPM JPMorgan Chase & Co. | 0.05% | 500 | $100K | New |
Other holdings (25): bonds, preferreds, convertibles and warrants · $48.8M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| HCI GROUP INC (HCI 4.75 06/01/42) | NOTE 4.750% 6/0 · principal | 4,090,000 | $6.3M | Reduce -5.3% |
| KIMCO REALTY CORP (KIM 7.25 PERP N) | DP CV CL N 7.25% | 91,537 | $5.2M | New |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 4,530,000 | $4.3M | New |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 4,195,000 | $4.2M | New |
| INNOVIVA INC (INVA 2.5 08/15/25) | NOTE 2.500% 8/1 · principal | 3,835,000 | $4.1M | Reduce -0.7% |
| FLAGSTAR BANK NA (FLG 6 11/01/51) | UNIT 05/07/2051 | 103,095 | $3.4M | Reduce -1.4% |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 2,485,000 | $2.5M | Add +8.0% |
| NRG ENERGY INC (NRG 2.75 06/01/48) | DBCV 2.750% 6/0 · principal | 1,375,000 | $2.3M | Reduce -37.6% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 2,017,000 | $2.1M | Add +1623.9% |
| EPR PROPERTIES (EPR 5.75 PERP C) | PFD C CV 5.75% | 97,245 | $1.8M | Add +37.0% |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | 2,015,000 | $1.7M | New |
| JAZZ INVESTMENTS I LTD (JAZZ 1.5 08/15/24) | NOTE 1.500% 8/1 · principal | 1,540,000 | $1.5M | Add +14.1% |
| EURONET WORLDWIDE INC (EEFT 0.75 03/15/49) | NOTE 0.750% 3/1 · principal | 1,544,000 | $1.5M | Add +348.8% |
| LCI INDUSTRIES (LCII 1.125 05/15/26) | NOTE 1.125% 5/1 · principal | 1,425,000 | $1.4M | New |
| CLARIVATE PLC (CLVT 5.25 06/01/24 A) | 5.25% PFD CONV A | 41,485 | $1.2M | New |
| STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) | NOTE 6.750% 7/1 · principal | 985,000 | $1.0M | Reduce -1.0% |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 1,000,000 | $984K | New |
| LYFT INC (LYFT 1.5 05/15/25) | NOTE 1.500% 5/1 · principal | 845,000 | $823K | Reduce -1.7% |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 670,000 | $623K | New |
| BANC OF CALIFORNIA INC (BANC V7.75 PERP F) | NON 13F SECURITY | 25,150 | $579K | Reduce -0.8% |
| CHEGG INC (CHGG 0.125 03/15/25) | NOTE 0.125% 3/1 · principal | 290,000 | $270K | No change |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 290,000 | $266K | No change |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 275,000 | $253K | No change |
| EZCORP INC (EZPW 2.875 07/01/24) | NOTE 2.875% 7/0 · principal | 215,000 | $238K | No change |
| GREENBRIER COS INC (GBX 2.875 04/15/28) | NOTE 2.875% 4/1 · principal | 117,000 | $130K | No change |
Total filed on the 13F, all lines: $254.4M.
Portfolio Sells Q4 2023 → Q1 2024
| BKFL Bankflorida Bancorp Inc. | Sold out | 0.00% | −0.58 |
| MCHENRY BANCORP | Sold out | 0.00% | −0.57 |
| FXNC First National Corp. | Reduce -0.8% | 1.59% | −0.56 |
| CWBC Community West Bancshares | Reduce -9.9% | 1.59% | −0.40 |
| MCBI Mountain Commerce Bancorp Inc. | Sold out | 0.00% | −0.34 |
| KEY Keycorp | Sold out | 0.00% | −0.34 |
| LFGP Ledyard Financial Group Inc. | Reduce -0.7% | 2.45% | −0.28 |
| ABCB Ameris Bancorp | Reduce -10.4% | 0.89% | −0.20 |
| TRAIX T Rowe PR Captl Apprec-I | Sold out | 0.00% | −0.16 |
| LXP LXP Industrial Trust | Reduce -0.3% | 1.14% | −0.12 |
| ENR Energizer Holdings Inc. | Reduce -1.4% | 1.20% | −0.11 |
| FNCB FNCB Bancorp Inc. | Reduce -1.6% | 0.63% | −0.09 |
| FRAF Franklin Financial Services | Reduce -1.1% | 0.30% | −0.07 |
| IYR iShares US Real Estate ETF | Sold out | 0.00% | −0.05 |
| SOBS Solvay Bank Solvay N Y | Reduce -0.4% | 0.93% | −0.04 |
| WBD Warner Bros Discovery Inc. | Reduce -1.4% | 0.05% | −0.02 |
| QABA First Trust Nasdaq Aba Cbif | Reduce -1.1% | 0.20% | −0.02 |
| SCHV Schwab US Large-Cap Value | Reduce -19.1% | 0.11% | −0.02 |
| IUSV iShares Core S&P U.S. Value | Reduce -5.2% | 0.20% | +0.00 |
| T AT&T Inc. | Reduce -0.7% | 0.57% | +0.02 |
| IFF Intl Flavors & Fragrances | Reduce -1.4% | 1.07% | +0.05 |
| TSN Tyson Foods Inc. Class A | Reduce -0.3% | 0.79% | +0.06 |
| EXSR Exchange Bank Santa Rosa Cal | Reduce -0.3% | 3.86% | +0.09 |
| SFL SFL Corp. Ltd. | Reduce -0.4% | 1.31% | +0.18 |
| MRK Merck & Co. Inc. | Reduce -0.8% | 4.17% | +0.69 |
Portfolio Buys Q4 2023 → Q1 2024
| MET Metlife Inc. | Add +0.1% | 6.19% | +0.66 |
| MCHN McHenry Bancorp Inc. | New | 0.62% | +0.62 |
| ET Energy Transfer LP | Add +1.9% | 3.44% | +0.47 |
| FENY Fidelity MSCI Energy Index | Add +5.2% | 3.06% | +0.47 |
| AEM Agnico Eagle Mines Ltd. | Add +2.3% | 4.31% | +0.43 |
| TTE Totalenergies SE -Spon ADR | New | 0.40% | +0.40 |
| VTRS Viatris Inc. | Add +2.2% | 2.74% | +0.30 |
| BANC Banc of California Inc. | Add +46.1% | 0.52% | +0.20 |
| VOO Vanguard S&P 500 ETF | Add +19.9% | 0.68% | +0.16 |
| APLE Apple Hospitality REIT Inc. | Add +16.6% | 1.24% | +0.16 |
| CTO Cto Realty Growth Inc. | Add +14.8% | 1.29% | +0.14 |
| VZ Verizon Communications Inc. | Add +0.9% | 1.28% | +0.14 |
| FSBH FSBH Corp. | Add +10.7% | 0.82% | +0.10 |
| MOAT Vaneck Morningstar Wide Moat | Add +10.2% | 0.71% | +0.10 |
| TGNA Tegna Inc. | New | 0.09% | +0.09 |
| CSBB CSB Bancorp Inc. | Add +0.7% | 1.36% | +0.09 |
| BG Bunge Global SA | Add +0.9% | 4.00% | +0.09 |
| WY Weyerhaeuser Co. | Add +0.3% | 2.64% | +0.09 |
| SHEL Shell PLC-ADR | Add +0.8% | 3.53% | +0.08 |
| CNH CNH Industrial NV | New | 0.08% | +0.08 |
| TV Grupo Televisa SA-Spon ADR | New | 0.06% | +0.06 |
| MSFT Microsoft Corp. | Add +18.0% | 0.25% | +0.06 |
| GDX Vaneck Gold Miners ETF | Add +14.0% | 0.41% | +0.06 |
| IBM Intl Business Machines Corp. | New | 0.06% | +0.06 |
| WIW Western Asst Infl-LNK Opp | New | 0.06% | +0.06 |
| IWS iShares Russell Mid-Cap Valu | New | 0.05% | +0.05 |
| ABBV Abbvie Inc. | Add +0.9% | 0.34% | +0.05 |
| LOW Lowe's Cos Inc. | New | 0.05% | +0.05 |
| JCI Johnson Controls Internation | New | 0.05% | +0.05 |
| JPM JPMorgan Chase & Co. | New | 0.05% | +0.05 |
| KR Kroger Co. | Add +0.2% | 0.12% | +0.02 |
| PTBS Potomac Bancshares Inc. | Add +0.9% | 1.35% | +0.02 |
| MTB M & T Bank Corp. | Add +0.9% | 0.21% | +0.01 |
| BORT Bank of Botetourt Buchanan V | Add +1.1% | 1.45% | +0.01 |
| BRBS Blue Ridge Bankshares Inc. | Add +26.8% | 0.11% | +0.01 |
| BMBN Benchmark Bankshares Inc. | Add +11.2% | 1.65% | +0.01 |
| MFGI Merchants Financial Group Inc. | Add +1.0% | 0.84% | +0.01 |
| ACI Albertsons Cos Inc. Class A | Add +7.9% | 1.42% | +0.01 |
| SSB Southstate Bank Corp. | Add +0.6% | 0.23% | +0.00 |
| MPT Medical Properties Trust Inc. | Add +4.7% | 0.34% | 0.00 |
| HWC Hancock Whitney Corp. | Add +0.7% | 0.24% | −0.01 |
| SBCF Seacoast Banking Corp. | Add +0.7% | 0.13% | −0.02 |
| PFE Pfizer Inc. | Add +3.3% | 3.13% | −0.02 |
| ALRS Alerus Financial Corp. | Add +0.5% | 1.68% | −0.04 |
| VICI Vici Properties Inc. | Add +5.0% | 1.91% | −0.04 |
| FLIC First of Long Island Corp. | Add +0.9% | 0.26% | −0.05 |
| FISI Financial Institutions Inc. | Add +0.1% | 0.42% | −0.06 |
| EBMT Eagle Bancorp Montana Inc. | Add +0.3% | 0.44% | −0.10 |
| FBIZ First Business Financial Ser | Add +0.2% | 2.79% | −0.19 |
| SBFG SB Financial Group Inc. | Add +0.0% | 2.68% | −0.28 |
Notes & Other Activity Q4 2023 → Q1 2024
| HCI GROUP INC (HCI 4.75 06/01/42) | NOTE 4.750% 6/0 · principal | Reduce -5.3% | 4,090,000 | $6.3M |
| KIMCO REALTY CORP (KIM 7.25 PERP N) | DP CV CL N 7.25% | New | 91,537 | $5.2M |
| RPT REALTY (KIM 7.25 PERP D) | 7.25 PFD D CONV | Sold out | 87,231 | $5.0Mbefore exit |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | New | 4,530,000 | $4.3M |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | New | 4,195,000 | $4.2M |
| INNOVIVA INC (INVA 2.5 08/15/25) | NOTE 2.500% 8/1 · principal | Reduce -0.7% | 3,835,000 | $4.1M |
| FLAGSTAR BANK NA (FLG 6 11/01/51) | UNIT 05/07/2051 | Reduce -1.4% | 103,095 | $3.4M |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | Add +8.0% | 2,485,000 | $2.5M |
| NRG ENERGY INC (NRG 2.75 06/01/48) | DBCV 2.750% 6/0 · principal | Reduce -37.6% | 1,375,000 | $2.3M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Add +1623.9% | 2,017,000 | $2.1M |
| EPR PROPERTIES (EPR 5.75 PERP C) | PFD C CV 5.75% | Add +37.0% | 97,245 | $1.8M |
| GREAT AJAX CORP (RPT 7.25 04/30/24) | 7.25 CV SR NT 24 | Sold out | 68,835 | $1.7Mbefore exit |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | New | 2,015,000 | $1.7M |
| JAZZ INVESTMENTS I LTD (JAZZ 1.5 08/15/24) | NOTE 1.500% 8/1 · principal | Add +14.1% | 1,540,000 | $1.5M |
| EURONET WORLDWIDE INC (EEFT 0.75 03/15/49) | NOTE 0.750% 3/1 · principal | Add +348.8% | 1,544,000 | $1.5M |
| LCI INDUSTRIES (LCII 1.125 05/15/26) | NOTE 1.125% 5/1 · principal | New | 1,425,000 | $1.4M |
| ETSY | DEB · principal | Sold out | 1,525,000 | $1.3Mbefore exit |
| CLARIVATE PLC (CLVT 5.25 06/01/24 A) | 5.25% PFD CONV A | New | 41,485 | $1.2M |
| STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) | NOTE 6.750% 7/1 · principal | Reduce -1.0% | 985,000 | $1.0M |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | New | 1,000,000 | $984K |
| VIAVI SOLUTIONS INC (VIAV 1 03/01/24) | NOTE 1.000% 3/0 · principal | Sold out | 985,000 | $963Kbefore exit |
| LYFT INC (LYFT 1.5 05/15/25) | NOTE 1.500% 5/1 · principal | Reduce -1.7% | 845,000 | $823K |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | New | 670,000 | $623K |
| BANC OF CALIFORNIA INC (BANC V7.75 PERP F) | NON 13F SECURITY | Reduce -0.8% | 25,150 | $579K |
| HARBOR CUSTOM DEV INC (HCDI 8 PERP A) | 8% CONV PFD SR A | Sold out | 522,975 | $497Kbefore exit |
| ARES CAPITAL CORP (ARCC 4.625 03/01/24) | NOTE 4.625% 3/0 · principal | Sold out | 295,000 | $304Kbefore exit |
| WESTERN DIGITAL CORP (WDC 1.5 02/01/24) | NOTE 1.500% 2/0 · principal | Sold out | 210,000 | $209Kbefore exit |
| GUIDEWIRE SOFTWARE INC (GWRE 1.25 03/15/25) | NOTE 1.250% 3/1 · principal | Sold out | 165,000 | $181Kbefore exit |
| PARSONS CORP (PSN 0.25 08/15/25) | NOTE 0.250% 8/1 · principal | Sold out | 100,000 | $143Kbefore exit |
| CHEVRON BOFA | DEB · principal | Sold out | 94,000 | $106Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 100 | $315.8M | AEM, MET, CTO, TSBK, EXSR |
| Q1 2026 | 91 | $297.9M | AEM, MET, CTO, TSBK, EXSR |
| Q4 2025 | 94 | $270.8M | AEM, MET, CTO, TSBK, EXSR |
| Q3 2025 | 95 | $250.9M | AEM, MET, CTO, TSBK, EXSR |
| Q2 2025 | 90 | $233.8M | AEM, MET, CTO, TSBK, EXSR |
| Q1 2025 | 87 | $225.2M | AEM, MET, TSBK, EXSR, SBFG |
| Q4 2024Amended | 85 | $222.8M | MET, AEM, TSBK, ET, EXSR |
| Q3 2024 | 83 | $229.5M | MET, AEM, TSBK, EXSR, SBFG |
| Q2 2024 | 83 | $206.7M | MET, AEM, BG, TSBK, SHEL |
| Q1 2024 | 84 | $205.6M | MET, AEM, MRK, BG, TSBK |