Cutler Capital Management, LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Cutler Capital Management, LLC reported 91 stock positions worth $297.9 million. Its top holding was Agnico Eagle Mines (AEM) at 8.1% of the portfolio, followed by Metlife (MET, 4.2%) and Cto Realty Growth (CTO, 4.1%). Compared with Q4 2025, it opened 1 new position, sold out of 4, added to 30 and reduced 34. The biggest buy was a new position in LXP Industrial Trust (LXP) and the biggest sale an exit from LXP Industrial Trust (LXP).
- Most Recent 13F
- Q2 2026
- Location
- WORCESTER, MA
- CIK
- 0001353098
- Portfolio Value
- $297.9M (Q1 2026)
- SEC Filing
- 0001353098-26-000003 ↗ filed May 15, 2026
Holdings Value
Holdings 91 stocks · $297.9M
| AEM Agnico Eagle Mines Ltd. | 8.08% | 118,598 | $24.1M | Reduce -1.3% |
| MET Metlife Inc. | 4.17% | 175,759 | $12.4M | Add +5.8% |
| CTO Cto Realty Growth Inc. filed as CTO RLTY GROWTH INC NEW | 4.09% | 659,370 | $12.2M | Reduce -0.6% |
| TSBK Timberland Bancorp Inc. | 3.85% | 291,202 | $11.5M | Reduce -0.2% |
| EXSR Exchange Bank Santa Rosa Cal | 3.70% | 75,781 | $11.0M | Reduce -0.3% |
| SHEL Shell PLC-ADR | 3.46% | 110,701 | $10.3M | Reduce -0.6% |
| BG Bunge Global SA | 3.39% | 79,360 | $10.1M | Reduce -0.7% |
| FENY Fidelity MSCI Energy Index | 3.05% | 267,315 | $9.1M | Reduce -2.9% |
| PKBK Parke Bancorp Inc. | 3.03% | 317,426 | $9.0M | Add +0.3% |
| FBIZ First Business Financial Ser | 2.80% | 154,590 | $8.3M | Add +0.5% |
| SBFG SB Financial Group Inc. filed as SB FINL GROUP INC | 2.75% | 390,137 | $8.2M | Reduce -0.2% |
| ET Energy Transfer LP | 2.44% | 377,198 | $7.3M | Add +1.1% |
| VZ Verizon Communications Inc. | 2.38% | 141,366 | $7.1M | Add +2.6% |
| MRK Merck & Co. Inc. | 2.36% | 58,396 | $7.0M | Reduce -0.2% |
| PFE Pfizer Inc. | 2.34% | 248,771 | $7.0M | Reduce -0.4% |
| BMBN Benchmark Bankshares Inc. | 2.11% | 173,082 | $6.3M | Add +0.1% |
| VTRS Viatris Inc. | 2.07% | 456,272 | $6.2M | Reduce -0.3% |
| BORT Bank of Botetourt Buchanan V filed as BANK BOTETOURT | 1.93% | 122,465 | $5.8M | Add +10.3% |
| LFGP Ledyard Financial Group Inc. | 1.92% | 335,696 | $5.7M | Reduce -0.1% |
| CPKF Chesapeake Finl SHS Inc. filed as CHESPKE FINAN | 1.92% | 178,500 | $5.7M | No change |
| XRN Chiron Real Estate Inc. | 1.91% | 172,211 | $5.7M | Add +11.1% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 1.86% | 202,685 | $5.5M | Add +8.4% |
| FXNC First National Corp. | 1.84% | 204,109 | $5.5M | Add +0.5% |
| PTBS Potomac Bancshares Inc. | 1.53% | 231,015 | $4.6M | Add +0.2% |
| MFGI Merchants Financial Group Inc. | 1.49% | 126,950 | $4.5M | Add +0.9% |
| WY Weyerhaeuser Co. | 1.43% | 174,110 | $4.3M | Add +4.8% |
| CSBB CSB Bancorp Inc. | 1.39% | 66,563 | $4.2M | Reduce -0.7% |
| FMBM F & M Bank Corp. | 1.39% | 135,864 | $4.1M | No change |
| FSBH FSBH Corp. | 1.29% | 240,000 | $3.8M | Add +14.3% |
| CWBC Community West Bancshares | 1.27% | 162,590 | $3.8M | Reduce -0.1% |
| SFL SFL Corp. Ltd. | 1.20% | 330,892 | $3.6M | Reduce -1.1% |
| MOAT Vaneck Morningstar Wide Moat | 1.19% | 36,753 | $3.6M | Add +20.1% |
| APLE Apple Hospitality REIT Inc. | 1.16% | 300,670 | $3.5M | Add +3.6% |
| ALRS Alerus Financial Corp. | 1.09% | 136,470 | $3.2M | Reduce -1.1% |
| ACI Albertsons Cos Inc. Class A | 0.86% | 149,662 | $2.6M | Add +2.0% |
| SLB SLB Ltd. filed as SLB LIMITED | 0.85% | 49,054 | $2.5M | Reduce -0.8% |
| LXP LXP Industrial Trust | 0.84% | 54,115 | $2.5M | New |
| ABCB Ameris Bancorp | 0.83% | 31,859 | $2.5M | Reduce -4.8% |
| AIG American International Group | 0.83% | 33,000 | $2.5M | Add +0.6% |
| ENR Energizer Holdings Inc. | 0.83% | 149,905 | $2.5M | Add +24.9% |
| HCI Hci Group Inc. | 0.78% | 15,104 | $2.3M | Reduce -1.2% |
| BBT Beacon Financial Corp. | 0.78% | 77,238 | $2.3M | Add +11.6% |
| FCCO First Community Corp. | 0.75% | 76,500 | $2.2M | No change |
| NOG Northern Oil and Gas Inc. | 0.72% | 73,609 | $2.2M | Add +138.2% |
| GDX Vaneck Gold Miners ETF | 0.68% | 22,107 | $2.0M | Reduce -5.5% |
| VOO Vanguard S&P 500 ETF | 0.64% | 3,177 | $1.9M | Add +19.7% |
| CNH CNH Industrial NV | 0.63% | 169,938 | $1.9M | Reduce -0.4% |
| T AT&T Inc. | 0.61% | 62,256 | $1.8M | Reduce -0.2% |
| TSN Tyson Foods Inc. Class A | 0.58% | 27,007 | $1.7M | Reduce -0.4% |
| FISI Financial Institutions Inc. | 0.53% | 49,428 | $1.6M | No change |
| PFIS Peoples Financial Services | 0.51% | 28,748 | $1.5M | No change |
| BANC Banc of California Inc. | 0.47% | 79,550 | $1.4M | Add +1.0% |
| SOBS Solvay Bank Solvay N Y | 0.37% | 37,522 | $1.1M | Reduce -0.4% |
| CZBT Citizens Bancorp of Virginia | 0.36% | 28,525 | $1.1M | Add +13.0% |
| IAT iShares US Regional Banks Et | 0.33% | 18,000 | $969K | Add +28.6% |
| WIW Western Asst Infl-LNK Opp | 0.30% | 106,092 | $898K | Add +2.1% |
| VGM Invesco Trust for Investmen | 0.29% | 86,117 | $850K | No change |
| HWC Hancock Whitney Corp. | 0.23% | 10,898 | $693K | No change |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 0.23% | 9,451 | $686K | Reduce -1.5% |
| MTB M & T Bank Corp. filed as M & T BK CORP | 0.22% | 3,238 | $669K | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 0.21% | 1,330 | $637K | No change |
| MSFT Microsoft Corp. | 0.20% | 1,646 | $609K | No change |
| QABA First Trust Nasdaq Aba Cbif | 0.20% | 10,207 | $594K | Add +18.9% |
| SSB Southstate Bank Corp. | 0.18% | 5,755 | $532K | Add +0.6% |
| AGI Alamos Gold Inc. Class A | 0.16% | 10,822 | $481K | Reduce -5.3% |
| IUSV iShares Core S&P U.S. Value | 0.16% | 4,550 | $465K | No change |
| ORCL Oracle Corp. | 0.15% | 3,000 | $441K | No change |
| ABBV Abbvie Inc. | 0.14% | 1,915 | $416K | No change |
| KR Kroger Co. | 0.12% | 4,955 | $359K | Reduce -3.9% |
| SKE Skeena Resources Ltd. | 0.12% | 11,880 | $353K | Reduce -13.9% |
| JPM JPMorgan Chase & Co. | 0.12% | 1,188 | $349K | No change |
| GOOGL Alphabet Inc. Class A | 0.11% | 1,147 | $330K | No change |
| SBCF Seacoast Banking Corp. | 0.11% | 10,826 | $328K | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.10% | 481 | $313K | Reduce -2.4% |
| ES Eversource Energy | 0.10% | 4,247 | $294K | Reduce -37.0% |
| FFSM Fidelity FNDM SM Mid Cap ETF | 0.09% | 8,125 | $260K | Add +0.5% |
| FRAF Franklin Financial Services | 0.08% | 4,400 | $225K | No change |
| XOM Exxon Mobil Corp. | 0.07% | 1,293 | $219K | No change |
| AMZN Amazon.com Inc. | 0.07% | 1,005 | $209K | No change |
| GLD SPDR Gold Shares | 0.07% | 456 | $196K | No change |
| HL Hecla Mining Co. | 0.06% | 10,000 | $186K | No change |
| EBMT Eagle Bancorp Montana Inc. | 0.06% | 9,000 | $185K | No change |
| DUK Duke Energy Corp. | 0.05% | 1,183 | $155K | No change |
| TSM Taiwan Semiconductor-SP ADR | 0.05% | 455 | $154K | Reduce -9.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.05% | 611 | $148K | No change |
| SLV iShares Silver Trust | 0.05% | 2,038 | $139K | Reduce -14.2% |
| QQQ Invesco QQQ Trust Series 1 | 0.04% | 228 | $132K | Reduce -40.8% |
| LOW Lowe's Cos Inc. | 0.04% | 473 | $112K | Add +12.6% |
| MOTG Vaneck Mstar GL Wide Moat | 0.04% | 2,925 | $108K | No change |
| GOOG Alphabet Inc. Class C | 0.04% | 375 | $108K | No change |
| JCI Johnson Controls Internation | 0.04% | 800 | $105K | Reduce -48.4% |
Options reported separately and not counted above: AAPL puts ($4.4M), MICROSOFT CORP puts ($3.3M).
Other holdings (23): bonds, preferreds, convertibles and warrants · $64.2M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | 7,223,000 | $7.5M | Add +47.8% |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 6,210,000 | $7.3M | Reduce -1.5% |
| INNOVIVA INC (INVA 2.125 03/15/28) | NOTE 2.125% 3/1 · principal | 6,320,000 | $6.8M | Reduce -0.9% |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | 7,545,000 | $6.7M | Add +52.6% |
| KIMCO REALTY CORP (KIM 7.25 PERP N) | DP CV CL N 7.25% | 89,943 | $5.4M | Reduce -0.1% |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 3,950,000 | $4.3M | Add +40.6% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 3,355 | $4.0M | New |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 2,565,000 | $3.1M | Reduce -54.7% |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 2,300,000 | $2.7M | Reduce -2.1% |
| FLAGSTAR BANK NA (FLG 6 11/01/51) | UNIT 05/07/2051 | 56,093 | $2.2M | Reduce -34.1% |
| WINNEBAGO INDUSTRIES (WGO 3.25 01/15/30) | NOTE 3.250% 1/1 · principal | 2,345,000 | $2.1M | Add +311.4% |
| AMPHASTAR PHARMACEUTICAL (AMPH 2 03/15/29) | NOTE 2.000% 3/1 · principal | 1,940,000 | $1.8M | Reduce -1.3% |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | 1,855,000 | $1.7M | Reduce -2.6% |
| HAEMONETICS CORP (HAE 2.5 06/01/29) | NOTE 2.500% 6/0 · principal | 1,750,000 | $1.7M | Add +50.9% |
| CHEESECAKE FACTORY (THE) (CAKE 2 03/15/30) | NOTE 2.000% 3/1 · principal | 1,500,000 | $1.5M | New |
| LCI INDUSTRIES (LCII 1.125 05/15/26) | NOTE 1.125% 5/1 · principal | 1,442,000 | $1.4M | Reduce -2.7% |
| PACIRA BIOSCIENCES INC (PCRX 2.125 05/15/29) | NOTE 2.125% 5/1 · principal | 1,475,000 | $1.4M | Reduce -1.3% |
| STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) | NOTE 6.750% 7/1 · principal | 910,000 | $925K | Reduce -2.7% |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | 820,000 | $787K | Reduce -3.5% |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | 4,675 | $336K | Reduce -8.8% |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | 300,000 | $292K | No change |
| GREENBRIER COS INC (GBX 2.875 04/15/28) | NOTE 2.875% 4/1 · principal | 117,000 | $135K | No change |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | 110,000 | $114K | No change |
Total filed on the 13F, all lines: $362.1M.
Portfolio Sells Q4 2025 → Q1 2026
| LXP LXP Industrial Trust | Sold out | 0.00% | −0.99 |
| SBFG SB Financial Group Inc. | Reduce -0.2% | 2.75% | −0.47 |
| CTO Cto Realty Growth Inc. | Reduce -0.6% | 4.09% | −0.42 |
| HCI Hci Group Inc. | Reduce -1.2% | 0.78% | −0.30 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Sold out | 0.00% | −0.30 |
| ABCB Ameris Bancorp | Reduce -4.8% | 0.83% | −0.08 |
| CWBC Community West Bancshares | Reduce -0.1% | 1.27% | −0.08 |
| ES Eversource Energy | Reduce -37.0% | 0.10% | −0.07 |
| ALRS Alerus Financial Corp. | Reduce -1.1% | 1.09% | −0.06 |
| GDX Vaneck Gold Miners ETF | Reduce -5.5% | 0.68% | −0.06 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -40.8% | 0.04% | −0.04 |
| RSP Invesco S&P 500 Equal Weight | Sold out | 0.00% | −0.04 |
| B Barrick Mining Corp. | Sold out | 0.00% | −0.04 |
| VTRS Viatris Inc. | Reduce -0.3% | 2.07% | −0.04 |
| JCI Johnson Controls Internation | Reduce -48.4% | 0.04% | −0.03 |
| SOBS Solvay Bank Solvay N Y | Reduce -0.4% | 0.37% | −0.03 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -2.4% | 0.10% | −0.02 |
| SLV iShares Silver Trust | Reduce -14.2% | 0.05% | −0.01 |
| IFF Intl Flavors & Fragrances | Reduce -1.5% | 0.23% | −0.01 |
| TSN Tyson Foods Inc. Class A | Reduce -0.4% | 0.58% | −0.01 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -9.7% | 0.05% | −0.01 |
| TSBK Timberland Bancorp Inc. | Reduce -0.2% | 3.85% | −0.00 |
| SKE Skeena Resources Ltd. | Reduce -13.9% | 0.12% | −0.00 |
| AGI Alamos Gold Inc. Class A | Reduce -5.3% | 0.16% | −0.00 |
| KR Kroger Co. | Reduce -3.9% | 0.12% | +0.00 |
| T AT&T Inc. | Reduce -0.2% | 0.61% | +0.03 |
| CNH CNH Industrial NV | Reduce -0.4% | 0.63% | +0.05 |
| PFE Pfizer Inc. | Reduce -0.4% | 2.34% | +0.05 |
| EXSR Exchange Bank Santa Rosa Cal | Reduce -0.3% | 3.70% | +0.05 |
| CSBB CSB Bancorp Inc. | Reduce -0.7% | 1.39% | +0.06 |
| LFGP Ledyard Financial Group Inc. | Reduce -0.1% | 1.92% | +0.06 |
| MRK Merck & Co. Inc. | Reduce -0.2% | 2.36% | +0.08 |
| SLB SLB Ltd. | Reduce -0.8% | 0.85% | +0.15 |
| SFL SFL Corp. Ltd. | Reduce -1.1% | 1.20% | +0.23 |
| SHEL Shell PLC-ADR | Reduce -0.6% | 3.46% | +0.43 |
| FENY Fidelity MSCI Energy Index | Reduce -2.9% | 3.05% | +0.54 |
| AEM Agnico Eagle Mines Ltd. | Reduce -1.3% | 8.08% | +0.56 |
| BG Bunge Global SA | Reduce -0.7% | 3.39% | +0.76 |
Portfolio Buys Q4 2025 → Q1 2026
| LXP LXP Industrial Trust | New | 0.84% | +0.84 |
| NOG Northern Oil and Gas Inc. | Add +138.2% | 0.72% | +0.48 |
| VZ Verizon Communications Inc. | Add +2.6% | 2.38% | +0.31 |
| ET Energy Transfer LP | Add +1.1% | 2.44% | +0.17 |
| BORT Bank of Botetourt Buchanan V | Add +10.3% | 1.93% | +0.13 |
| BBT Beacon Financial Corp. | Add +11.6% | 0.78% | +0.10 |
| PKBK Parke Bancorp Inc. | Add +0.3% | 3.03% | +0.10 |
| FSBH FSBH Corp. | Add +14.3% | 1.29% | +0.09 |
| CZBT Citizens Bancorp of Virginia | Add +13.0% | 0.36% | +0.05 |
| IAT iShares US Regional Banks Et | Add +28.6% | 0.33% | +0.04 |
| MOAT Vaneck Morningstar Wide Moat | Add +20.1% | 1.19% | +0.02 |
| VOO Vanguard S&P 500 ETF | Add +19.7% | 0.64% | +0.02 |
| QABA First Trust Nasdaq Aba Cbif | Add +18.9% | 0.20% | +0.02 |
| MFGI Merchants Financial Group Inc. | Add +0.9% | 1.49% | +0.01 |
| LOW Lowe's Cos Inc. | Add +12.6% | 0.04% | +0.00 |
| FFSM Fidelity FNDM SM Mid Cap ETF | Add +0.5% | 0.09% | −0.00 |
| BMBN Benchmark Bankshares Inc. | Add +0.1% | 2.11% | −0.02 |
| XRN Chiron Real Estate Inc. | Add +11.1% | 1.91% | −0.02 |
| SSB Southstate Bank Corp. | Add +0.6% | 0.18% | −0.02 |
| WY Weyerhaeuser Co. | Add +4.8% | 1.43% | −0.03 |
| WIW Western Asst Infl-LNK Opp | Add +2.1% | 0.30% | −0.03 |
| PTBS Potomac Bancshares Inc. | Add +0.2% | 1.53% | −0.03 |
| FXNC First National Corp. | Add +0.5% | 1.84% | −0.05 |
| ENR Energizer Holdings Inc. | Add +24.9% | 0.83% | −0.06 |
| ACI Albertsons Cos Inc. Class A | Add +2.0% | 0.86% | −0.07 |
| VICI Vici Properties Inc. | Add +8.4% | 1.86% | −0.08 |
| BANC Banc of California Inc. | Add +1.0% | 0.47% | −0.09 |
| APLE Apple Hospitality REIT Inc. | Add +3.6% | 1.16% | −0.11 |
| AIG American International Group | Add +0.6% | 0.83% | −0.20 |
| FBIZ First Business Financial Ser | Add +0.5% | 2.80% | −0.29 |
| MET Metlife Inc. | Add +5.8% | 4.17% | −0.67 |
Options Activity Q4 2025 → Q1 2026
| MICROSOFT CORP | put | Reduce -90.0% | 9,000 | $3.3M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2025 → Q1 2026
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | Add +47.8% | 7,223,000 | $7.5M |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | Reduce -1.5% | 6,210,000 | $7.3M |
| INNOVIVA INC (INVA 2.125 03/15/28) | NOTE 2.125% 3/1 · principal | Reduce -0.9% | 6,320,000 | $6.8M |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | Add +52.6% | 7,545,000 | $6.7M |
| KIMCO REALTY CORP (KIM 7.25 PERP N) | DP CV CL N 7.25% | Reduce -0.1% | 89,943 | $5.4M |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | Add +40.6% | 3,950,000 | $4.3M |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | New | 3,355 | $4.0M |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | Reduce -54.7% | 2,565,000 | $3.1M |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | Reduce -2.1% | 2,300,000 | $2.7M |
| FLAGSTAR BANK NA (FLG 6 11/01/51) | UNIT 05/07/2051 | Reduce -34.1% | 56,093 | $2.2M |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | Sold out | 2,085,000 | $2.1Mbefore exit |
| WINNEBAGO INDUSTRIES (WGO 3.25 01/15/30) | NOTE 3.250% 1/1 · principal | Add +311.4% | 2,345,000 | $2.1M |
| EPR PROPERTIES (EPR 5.75 PERP C) | PFD C CV 5.75% | Sold out | 81,995 | $1.8Mbefore exit |
| AMPHASTAR PHARMACEUTICAL (AMPH 2 03/15/29) | NOTE 2.000% 3/1 · principal | Reduce -1.3% | 1,940,000 | $1.8M |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | Reduce -2.6% | 1,855,000 | $1.7M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Sold out | 1,615,000 | $1.7Mbefore exit |
| HAEMONETICS CORP (HAE 2.5 06/01/29) | NOTE 2.500% 6/0 · principal | Add +50.9% | 1,750,000 | $1.7M |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | Sold out | 1,600,000 | $1.6Mbefore exit |
| CHEESECAKE FACTORY (THE) (CAKE 2 03/15/30) | NOTE 2.000% 3/1 · principal | New | 1,500,000 | $1.5M |
| LCI INDUSTRIES (LCII 1.125 05/15/26) | NOTE 1.125% 5/1 · principal | Reduce -2.7% | 1,442,000 | $1.4M |
| PACIRA BIOSCIENCES INC (PCRX 2.125 05/15/29) | NOTE 2.125% 5/1 · principal | Reduce -1.3% | 1,475,000 | $1.4M |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | Sold out | 935,000 | $971Kbefore exit |
| STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) | NOTE 6.750% 7/1 · principal | Reduce -2.7% | 910,000 | $925K |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | Reduce -3.5% | 820,000 | $787K |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | Reduce -8.8% | 4,675 | $336K |
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 |