Cutler Capital Management, LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Cutler Capital Management, LLC reported 85 stock positions worth $222.8 million. Its top holding was Metlife (MET) at 6.1% of the portfolio, followed by Agnico Eagle Mines (AEM, 5.0%) and Timberland Bancorp (TSBK, 4.1%). Compared with Q3 2024, it opened 7 new positions, sold out of 5, added to 24 and reduced 31. The biggest buy was a new position in Community West Bancshares (CWBC) and the biggest sale an exit from Community West Bancshares (CWBC).
- Most Recent 13F
- Q2 2026
- Location
- WORCESTER, MA
- CIK
- 0001353098
- Portfolio Value
- $222.8M (Q4 2024)
- SEC Filing
- 0001353098-25-000003 ↗ filed Feb 13, 2025
Holdings Value
Holdings 85 stocks · $222.8M
| MET Metlife Inc. | 6.10% | 165,889 | $13.6M | Reduce -0.4% |
| AEM Agnico Eagle Mines Ltd. | 4.97% | 141,436 | $11.1M | Reduce -4.4% |
| TSBK Timberland Bancorp Inc. | 4.09% | 299,001 | $9.1M | Reduce -0.4% |
| ET Energy Transfer LP | 3.88% | 441,474 | $8.6M | Reduce -3.2% |
| EXSR Exchange Bank Santa Rosa Cal | 3.70% | 76,054 | $8.2M | Reduce -0.3% |
| SBFG SB Financial Group Inc. filed as SB FINL GROUP INC | 3.68% | 392,556 | $8.2M | Reduce -1.6% |
| FBIZ First Business Financial Ser | 3.18% | 153,199 | $7.1M | Reduce -0.2% |
| SHEL Shell PLC-ADR | 3.12% | 110,826 | $6.9M | Add +0.8% |
| PFE Pfizer Inc. | 2.94% | 246,894 | $6.6M | Add +1.7% |
| BG Bunge Global SA | 2.87% | 82,237 | $6.4M | Add +0.7% |
| PKBK Parke Bancorp Inc. | 2.84% | 308,932 | $6.3M | Reduce -0.2% |
| FENY Fidelity MSCI Energy Index | 2.82% | 263,905 | $6.3M | Add +0.9% |
| VTRS Viatris Inc. | 2.60% | 465,910 | $5.8M | Reduce -1.4% |
| MRK Merck & Co. Inc. | 2.59% | 58,025 | $5.8M | Reduce -5.7% |
| LFGP Ledyard Financial Group Inc. | 2.25% | 326,596 | $5.0M | Reduce -0.3% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 2.15% | 163,969 | $4.8M | Add +5.6% |
| FXNC First National Corp. | 2.09% | 202,785 | $4.7M | No change |
| BMBN Benchmark Bankshares Inc. | 1.93% | 166,900 | $4.3M | Add +1.5% |
| WY Weyerhaeuser Co. | 1.92% | 151,661 | $4.3M | Add +1.2% |
| APLE Apple Hospitality REIT Inc. | 1.85% | 268,970 | $4.1M | Add +10.8% |
| CNH CNH Industrial NV | 1.65% | 325,159 | $3.7M | Add +3.3% |
| SFL SFL Corp. Ltd. | 1.60% | 349,683 | $3.6M | Add +11.9% |
| CTO Cto Realty Growth Inc. filed as CTO RLTY GROWTH INC NEW | 1.59% | 179,766 | $3.5M | Add +2.0% |
| XRN Global Medical REIT Inc. | 1.56% | 450,279 | $3.5M | Add +0.3% |
| VZ Verizon Communications Inc. | 1.56% | 86,819 | $3.5M | Add +22.2% |
| BORT Bank of Botetourt Buchanan V filed as BANK BOTETOURT | 1.50% | 104,474 | $3.3M | Reduce -0.5% |
| CPKF Chesapeake Finl SHS Inc. filed as CHESPKE FINAN | 1.50% | 173,000 | $3.3M | No change |
| CWBC Community West Bancshares | 1.41% | 162,061 | $3.1M | New |
| ENR Energizer Holdings Inc. | 1.39% | 88,437 | $3.1M | Reduce -2.4% |
| PTBS Potomac Bancshares Inc. | 1.38% | 195,068 | $3.1M | Add +0.3% |
| ALRS Alerus Financial Corp. | 1.37% | 158,972 | $3.1M | No change |
| FMBM F & M Bank Corp. | 1.21% | 133,939 | $2.7M | No change |
| CSBB CSB Bancorp Inc. | 1.21% | 70,500 | $2.7M | Add +0.9% |
| ACI Albertsons Cos Inc. Class A | 1.17% | 133,062 | $2.6M | Reduce -2.3% |
| AIG American International Group | 1.07% | 32,600 | $2.4M | Add +0.3% |
| MFGI Merchants Financial Group Inc. | 1.06% | 93,700 | $2.4M | Add +1.3% |
| LXP LXP Industrial Trust | 0.97% | 267,481 | $2.2M | Add +4.1% |
| ABCB Ameris Bancorp | 0.95% | 33,959 | $2.1M | Reduce -6.9% |
| MOAT Vaneck Morningstar Wide Moat | 0.92% | 22,138 | $2.1M | Add +5.9% |
| MNSB Mainstreet Bancshares Inc. | 0.89% | 109,236 | $2.0M | Reduce -13.9% |
| FCCO First Community Corp. | 0.82% | 76,500 | $1.8M | No change |
| SOBS Solvay Bank Solvay N Y | 0.80% | 68,480 | $1.8M | Reduce -3.8% |
| T AT&T Inc. | 0.68% | 66,244 | $1.5M | Reduce -0.6% |
| TSN Tyson Foods Inc. Class A | 0.68% | 26,251 | $1.5M | Reduce -3.1% |
| PFIS Peoples Financial Services | 0.64% | 27,948 | $1.4M | Reduce -5.2% |
| FSBH FSBH Corp. | 0.64% | 210,000 | $1.4M | No change |
| FISI Financial Institutions Inc. | 0.56% | 45,725 | $1.2M | No change |
| BANC Banc of California Inc. | 0.54% | 77,750 | $1.2M | No change |
| VOO Vanguard S&P 500 ETF | 0.48% | 1,972 | $1.1M | Reduce -57.9% |
| GDX Vaneck Gold Miners ETF | 0.48% | 31,212 | $1.1M | Add +3.9% |
| EBMT Eagle Bancorp Montana Inc. | 0.45% | 65,634 | $1.0M | Reduce -7.8% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 0.39% | 10,400 | $879K | Reduce -4.4% |
| VGM Invesco Trust for Investmen | 0.39% | 86,117 | $870K | No change |
| WIW Western Asst Infl-LNK Opp | 0.33% | 88,765 | $734K | Add +8.2% |
| MSFT Microsoft Corp. | 0.27% | 1,448 | $610K | Add +22.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.27% | 1,336 | $606K | No change |
| MTB M & T Bank Corp. filed as M & T BK CORP | 0.27% | 3,179 | $598K | Add +4.8% |
| CZBT Citizens Bancorp of Virginia | 0.27% | 20,250 | $597K | No change |
| HWC Hancock Whitney Corp. | 0.27% | 10,898 | $596K | No change |
| SSB Southstate Bank Corp. | 0.25% | 5,688 | $566K | No change |
| CLVT Clarivate PLC | 0.25% | 107,697 | $547K | Reduce -16.2% |
| BRBS Blue Ridge Bankshares Inc. | 0.23% | 160,000 | $515K | Reduce -50.7% |
| ORCL Oracle Corp. | 0.22% | 3,000 | $500K | New |
| QABA First Trust Nasdaq Aba Cbif | 0.20% | 7,983 | $443K | Reduce -0.9% |
| ABBV Abbvie Inc. | 0.19% | 2,400 | $426K | Reduce -13.8% |
| IUSV iShares Core S&P U.S. Value | 0.19% | 4,567 | $423K | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.17% | 660 | $387K | Reduce -0.1% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.15% | 8,900 | $341K | New |
| TTE Totalenergies SE -Spon ADR | 0.15% | 6,082 | $331K | Reduce -49.7% |
| KR Kroger Co. | 0.14% | 5,162 | $316K | No change |
| SBCF Seacoast Banking Corp. | 0.13% | 10,826 | $298K | No change |
| JPM JPMorgan Chase & Co. | 0.13% | 1,188 | $285K | Add +137.6% |
| MCHN McHenry Bancorp Inc. | 0.11% | 33,515 | $251K | No change |
| FRAF Franklin Financial Services | 0.09% | 6,909 | $207K | Reduce -67.4% |
| AMZN Amazon.com Inc. | 0.08% | 780 | $171K | Reduce -25.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.06% | 611 | $134K | No change |
| JCI Johnson Controls Internation | 0.06% | 1,648 | $130K | No change |
| GOOGL Alphabet Inc. Class A | 0.06% | 654 | $124K | No change |
| IWS iShares Russell Mid-Cap Valu | 0.05% | 886 | $115K | No change |
| DUK Duke Energy Corp. | 0.05% | 1,050 | $113K | New |
| SCHF Schwab Intl Equity ETF | 0.05% | 6,000 | $111K | No change |
| XOM Exxon Mobil Corp. | 0.05% | 1,021 | $110K | New |
| AGI Alamos Gold Inc. Class A | 0.05% | 5,832 | $108K | New |
| LOW Lowe's Cos Inc. | 0.05% | 420 | $104K | No change |
| QQQ Invesco QQQ Trust Series 1 | 0.05% | 200 | $102K | New |
Other holdings (32): bonds, preferreds, convertibles and warrants · $64.4M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| CTO REALTY GROWTH INC (CTO 3.875 04/15/25 *) | NOTE 3.875% 4/1 · principal | 6,049,000 | $8.4M | New |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 6,435,000 | $6.7M | Reduce -0.3% |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 5,780,000 | $5.9M | Add +22.7% |
| KIMCO REALTY CORP (KIM 7.25 PERP N) | DP CV CL N 7.25% | 91,565 | $5.5M | No change |
| INNOVIVA INC (INVA 2.5 08/15/25) | NOTE 2.500% 8/1 · principal | 3,805,000 | $4.2M | Reduce -0.8% |
| FLAGSTAR BANK NA (FLG 6 11/01/51) | UNIT 05/07/2051 | 98,312 | $3.7M | Reduce -5.7% |
| HCI GROUP INC (HCI 4.75 06/01/42) | NOTE 4.750% 6/0 · principal | 2,075,000 | $3.2M | Reduce -43.3% |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 2,460,000 | $3.0M | Reduce -0.8% |
| GUESS INC (GES 3.75 04/15/28) | NOTE 3.750% 4/1 · principal | 2,764,000 | $2.6M | New |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 2,350,000 | $2.3M | Add +10.0% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 2,155,000 | $2.2M | Reduce -0.5% |
| EURONET WORLDWIDE INC (EEFT 0.75 03/15/49) | NOTE 0.750% 3/1 · principal | 1,988,000 | $2.0M | Add +30.4% |
| EPR PROPERTIES (EPR 5.75 PERP C) | PFD C CV 5.75% | 89,245 | $1.9M | Reduce -0.3% |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | 1,980,000 | $1.7M | Reduce -0.8% |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | 1,400,000 | $1.4M | Add +55.6% |
| LCI INDUSTRIES (LCII 1.125 05/15/26) | NOTE 1.125% 5/1 · principal | 1,420,000 | $1.4M | No change |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 1,000,000 | $1.0M | No change |
| STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) | NOTE 6.750% 7/1 · principal | 975,000 | $1.0M | Reduce -1.0% |
| NRG ENERGY INC (NRG 2.75 06/01/48) | DBCV 2.750% 6/0 · principal | 440,000 | $965K | Reduce -1.1% |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 990,000 | $929K | Add +47.8% |
| CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B) | 6.75DP CNV PFD B | 11,810 | $832K | No change |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | 865,000 | $772K | New |
| BANC OF CALIFORNIA INC (BANC V7.75 PERP F) | NON 13F SECURITY | 24,400 | $596K | Reduce -1.4% |
| INNOVIVA INC (INVA 2.125 03/15/28) | NOTE 2.125% 3/1 · principal | 600,000 | $564K | New |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 290,000 | $308K | No change |
| CHEGG INC (CHGG 0.125 03/15/25) | NOTE 0.125% 3/1 · principal | 290,000 | $281K | No change |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | 300,000 | $279K | No change |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 275,000 | $273K | No change |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | 5,125 | $209K | Reduce -59.7% |
| VISHAY INTERTECHNOLOGY (VSH 2.25 06/15/25) | NOTE 2.250% 6/1 · principal | 164,000 | $160K | New |
| GREENBRIER COS INC (GBX 2.875 04/15/28) | NOTE 2.875% 4/1 · principal | 117,000 | $142K | No change |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | 110,000 | $105K | No change |
Total filed on the 13F, all lines: $287.2M.
Portfolio Sells Q3 2024 → Q4 2024
| CWBC Community West Bancshares | Sold out | 0.00% | −1.36 |
| VOO Vanguard S&P 500 ETF | Reduce -57.9% | 0.48% | −0.60 |
| MRK Merck & Co. Inc. | Reduce -5.7% | 2.59% | −0.45 |
| AEM Agnico Eagle Mines Ltd. | Reduce -4.4% | 4.97% | −0.23 |
| SOBS Solvay Bank Solvay N Y | Reduce -3.8% | 0.80% | −0.19 |
| TTE Totalenergies SE -Spon ADR | Reduce -49.7% | 0.15% | −0.19 |
| FRAF Franklin Financial Services | Reduce -67.4% | 0.09% | −0.19 |
| BRBS Blue Ridge Bankshares Inc. | Reduce -50.7% | 0.23% | −0.16 |
| CLVT Clarivate PLC | Reduce -16.2% | 0.25% | −0.15 |
| MNSB Mainstreet Bancshares Inc. | Reduce -13.9% | 0.89% | −0.13 |
| IFF Intl Flavors & Fragrances | Reduce -4.4% | 0.39% | −0.10 |
| TGNA Tegna Inc. | Sold out | 0.00% | −0.09 |
| ABBV Abbvie Inc. | Reduce -13.8% | 0.19% | −0.05 |
| TV Grupo Televisa SA-Spon ADR | Sold out | 0.00% | −0.05 |
| RSP Invesco S&P 500 Equal Weight | Sold out | 0.00% | −0.04 |
| WBD Warner Bros Discovery Inc. | Sold out | 0.00% | −0.04 |
| EBMT Eagle Bancorp Montana Inc. | Reduce -7.8% | 0.45% | −0.04 |
| ABCB Ameris Bancorp | Reduce -6.9% | 0.95% | −0.04 |
| TSN Tyson Foods Inc. Class A | Reduce -3.1% | 0.68% | −0.03 |
| AMZN Amazon.com Inc. | Reduce -25.7% | 0.08% | −0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -0.1% | 0.17% | +0.01 |
| QABA First Trust Nasdaq Aba Cbif | Reduce -0.9% | 0.20% | +0.01 |
| BORT Bank of Botetourt Buchanan V | Reduce -0.5% | 1.50% | +0.02 |
| PKBK Parke Bancorp Inc. | Reduce -0.2% | 2.84% | +0.03 |
| T AT&T Inc. | Reduce -0.6% | 0.68% | +0.04 |
| PFIS Peoples Financial Services | Reduce -5.2% | 0.64% | +0.04 |
| EXSR Exchange Bank Santa Rosa Cal | Reduce -0.3% | 3.70% | +0.07 |
| ACI Albertsons Cos Inc. Class A | Reduce -2.3% | 1.17% | +0.08 |
| SBFG SB Financial Group Inc. | Reduce -1.6% | 3.68% | +0.11 |
| MET Metlife Inc. | Reduce -0.4% | 6.10% | +0.11 |
| ENR Energizer Holdings Inc. | Reduce -2.4% | 1.39% | +0.13 |
| FBIZ First Business Financial Ser | Reduce -0.2% | 3.18% | +0.13 |
| TSBK Timberland Bancorp Inc. | Reduce -0.4% | 4.09% | +0.14 |
| VTRS Viatris Inc. | Reduce -1.4% | 2.60% | +0.21 |
| LFGP Ledyard Financial Group Inc. | Reduce -0.3% | 2.25% | +0.27 |
| ET Energy Transfer LP | Reduce -3.2% | 3.88% | +0.69 |
Portfolio Buys Q3 2024 → Q4 2024
| CWBC Community West Bancshares | New | 1.41% | +1.41 |
| BMBN Benchmark Bankshares Inc. | Add +1.5% | 1.93% | +0.42 |
| APLE Apple Hospitality REIT Inc. | Add +10.8% | 1.85% | +0.28 |
| ORCL Oracle Corp. | New | 0.22% | +0.22 |
| VZ Verizon Communications Inc. | Add +22.2% | 1.56% | +0.17 |
| SLB SLB Ltd. | New | 0.15% | +0.15 |
| CNH CNH Industrial NV | Add +3.3% | 1.65% | +0.13 |
| CTO Cto Realty Growth Inc. | Add +2.0% | 1.59% | +0.13 |
| PTBS Potomac Bancshares Inc. | Add +0.3% | 1.38% | +0.11 |
| JPM JPMorgan Chase & Co. | Add +137.6% | 0.13% | +0.08 |
| FENY Fidelity MSCI Energy Index | Add +0.9% | 2.82% | +0.08 |
| MFGI Merchants Financial Group Inc. | Add +1.3% | 1.06% | +0.05 |
| MSFT Microsoft Corp. | Add +22.5% | 0.27% | +0.05 |
| DUK Duke Energy Corp. | New | 0.05% | +0.05 |
| XOM Exxon Mobil Corp. | New | 0.05% | +0.05 |
| AGI Alamos Gold Inc. Class A | New | 0.05% | +0.05 |
| QQQ Invesco QQQ Trust Series 1 | New | 0.05% | +0.05 |
| CSBB CSB Bancorp Inc. | Add +0.9% | 1.21% | +0.04 |
| MOAT Vaneck Morningstar Wide Moat | Add +5.9% | 0.92% | +0.04 |
| MTB M & T Bank Corp. | Add +4.8% | 0.27% | +0.03 |
| SFL SFL Corp. Ltd. | Add +11.9% | 1.60% | +0.03 |
| AIG American International Group | Add +0.3% | 1.07% | +0.03 |
| WIW Western Asst Infl-LNK Opp | Add +8.2% | 0.33% | +0.01 |
| SHEL Shell PLC-ADR | Add +0.8% | 3.12% | −0.04 |
| GDX Vaneck Gold Miners ETF | Add +3.9% | 0.48% | −0.05 |
| VICI Vici Properties Inc. | Add +5.6% | 2.15% | −0.10 |
| PFE Pfizer Inc. | Add +1.7% | 2.94% | −0.12 |
| LXP LXP Industrial Trust | Add +4.1% | 0.97% | −0.15 |
| WY Weyerhaeuser Co. | Add +1.2% | 1.92% | −0.30 |
| XRN Global Medical REIT Inc. | Add +0.3% | 1.56% | −0.38 |
| BG Bunge Global SA | Add +0.7% | 2.87% | −0.57 |
Notes & Other Activity Q3 2024 → Q4 2024
| CTO REALTY GROWTH INC (CTO 3.875 04/15/25 *) | NOTE 3.875% 4/1 · principal | New | 6,049,000 | $8.4M |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | Reduce -0.3% | 6,435,000 | $6.7M |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | Add +22.7% | 5,780,000 | $5.9M |
| INNOVIVA INC (INVA 2.5 08/15/25) | NOTE 2.500% 8/1 · principal | Reduce -0.8% | 3,805,000 | $4.2M |
| FLAGSTAR BANK NA (FLG 6 11/01/51) | UNIT 05/07/2051 | Reduce -5.7% | 98,312 | $3.7M |
| HCI GROUP INC (HCI 4.75 06/01/42) | NOTE 4.750% 6/0 · principal | Reduce -43.3% | 2,075,000 | $3.2M |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | Reduce -0.8% | 2,460,000 | $3.0M |
| GUESS INC (GES 3.75 04/15/28) | NOTE 3.750% 4/1 · principal | New | 2,764,000 | $2.6M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Add +10.0% | 2,350,000 | $2.3M |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | Reduce -0.5% | 2,155,000 | $2.2M |
| EURONET WORLDWIDE INC (EEFT 0.75 03/15/49) | NOTE 0.750% 3/1 · principal | Add +30.4% | 1,988,000 | $2.0M |
| EPR PROPERTIES (EPR 5.75 PERP C) | PFD C CV 5.75% | Reduce -0.3% | 89,245 | $1.9M |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | Reduce -0.8% | 1,980,000 | $1.7M |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | Add +55.6% | 1,400,000 | $1.4M |
| STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) | NOTE 6.750% 7/1 · principal | Reduce -1.0% | 975,000 | $1.0M |
| NRG ENERGY INC (NRG 2.75 06/01/48) | DBCV 2.750% 6/0 · principal | Reduce -1.1% | 440,000 | $965K |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | Add +47.8% | 990,000 | $929K |
| LYFT INC (LYFT 1.5 05/15/25) | NOTE 1.500% 5/1 · principal | Sold out | 815,000 | $791Kbefore exit |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | New | 865,000 | $772K |
| BANC OF CALIFORNIA INC (BANC V7.75 PERP F) | NON 13F SECURITY | Reduce -1.4% | 24,400 | $596K |
| INNOVIVA INC (INVA 2.125 03/15/28) | NOTE 2.125% 3/1 · principal | New | 600,000 | $564K |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | Reduce -59.7% | 5,125 | $209K |
| VISHAY INTERTECHNOLOGY (VSH 2.25 06/15/25) | NOTE 2.250% 6/1 · principal | New | 164,000 | $160K |
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 |