Cutler Investment Counsel LLC
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 14, 2026), Cutler Investment Counsel LLC reported 157 stock positions worth $1.1 billion. Its top holding was Vngrd Mrngstr MD-Cap ETF-Usd (VO) at 5.0% of the portfolio, followed by iShares Core MSCI Eafe ETF (IEFA, 4.5%) and iShares 1-5Y Inv Grade (IGSB, 4.4%). Compared with Q1 2026, it opened 13 new positions, sold out of 2, added to 74 and reduced 48. The biggest buy was Cisco Systems (CSCO, shares +1060%) and the biggest sale Nike Class B (NKE, shares −96%).
- Most Recent 13F
- Q2 2026
- Location
- Jacksonville, OR
- CIK
- 0001285973
- Portfolio Value
- $1.1B (Q2 2026)
- SEC Filing
- 0002085853-26-000715 ↗ filed Jul 14, 2026
Holdings Value
Holdings 157 stocks · $1.1B
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 4.96% | 654,530 | $52.7M | Add +1.5% |
| IEFA iShares Core MSCI Eafe ETF | 4.52% | 497,532 | $48.1M | Add +1.4% |
| IGSB iShares 1-5Y Inv Grade Corp. | 4.35% | 881,726 | $46.2M | Add +3.4% |
| SPEM State Street SP PTF Em ETF | 3.94% | 808,417 | $41.9M | Add +0.8% |
| JIRE JPMorgan Int Res Enh Eqty | 3.73% | 480,390 | $39.6M | Add +2.8% |
| IUSG iShares Core S&P U.S. Growth | 3.35% | 189,385 | $35.6M | Add +0.7% |
| CAT Caterpillar Inc. | 3.10% | 30,925 | $32.9M | Reduce -18.2% |
| IJR iShares Core S&P Small-Cap E | 2.91% | 208,300 | $30.9M | Add +1.4% |
| VUG Vanguard Mrngstar GR ETF-Sui | 2.88% | 355,675 | $30.6M | Add +0.8% |
| SPAB SS SPDR P Agg Bond ETF | 2.79% | 1,160,764 | $29.6M | Add +3.8% |
| GOVT iShares US Treasury Bond ETF | 2.47% | 1,149,762 | $26.2M | Add +3.4% |
| MSFT Microsoft Corp. | 2.36% | 67,261 | $25.1M | Reduce -0.4% |
| WMT Walmart Inc. | 2.31% | 217,092 | $24.6M | Reduce -0.2% |
| RTX RTX Corp. | 2.06% | 115,223 | $21.9M | Add +0.2% |
| DE Deere & Co. | 1.93% | 32,312 | $20.5M | Reduce -0.1% |
| SCHW Schwab (charles) Corp. | 1.62% | 186,829 | $17.2M | Add +0.3% |
| BLK BlackRock Inc. | 1.59% | 17,531 | $16.9M | Add +0.2% |
| TXN Texas Instruments Inc. | 1.59% | 56,533 | $16.9M | Add +0.3% |
| RSG Republic Services Inc. | 1.55% | 77,512 | $16.5M | Reduce -0.0% |
| XOM Exxon Mobil Corp. | 1.54% | 119,449 | $16.3M | Add +0.4% |
| NEE Nextera Energy Inc. | 1.53% | 185,395 | $16.3M | Add +38.0% |
| HD Home Depot Inc. | 1.53% | 46,023 | $16.2M | Reduce -0.4% |
| CVS CVS Health Corp. | 1.46% | 149,901 | $15.5M | Add +0.3% |
| JPM JPMorgan Chase & Co. | 1.41% | 45,620 | $14.9M | Reduce -0.7% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 1.30% | 157,363 | $13.8M | Add +7.9% |
| MCD McDonald's Corp. | 1.28% | 50,409 | $13.6M | Add +0.1% |
| RPG Invesco S&P 500 Pure Growth | 1.23% | 204,690 | $13.1M | Reduce -0.6% |
| JNJ Johnson & Johnson | 1.20% | 50,046 | $12.7M | Add +0.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.12% | 42,402 | $11.9M | Add +0.0% |
| MRK Merck & Co. Inc. | 1.07% | 87,765 | $11.4M | Add +0.1% |
| CVX Chevron Corp. | 1.03% | 66,008 | $10.9M | Add +0.3% |
| PNC PNC Financial Services Group | 1.02% | 44,011 | $10.8M | Reduce -0.1% |
| IVV iShares Core S&P 500 ETF | 1.00% | 14,234 | $10.7M | Add +2.7% |
| CARR Carrier Global Corp. | 1.00% | 145,301 | $10.7M | Reduce -0.1% |
| VZ Verizon Communications Inc. | 0.93% | 233,690 | $9.9M | Add +0.1% |
| VSS Vanguard Ftse All Wo X-US SC | 0.93% | 63,978 | $9.9M | Add +2.9% |
| KR Kroger Co. | 0.91% | 174,825 | $9.7M | Reduce -0.1% |
| REET iShares Global REIT ETF | 0.89% | 344,085 | $9.5M | Add +4.0% |
| MTB M & T Bank Corp. filed as M & T BK CORP | 0.87% | 38,742 | $9.2M | Reduce -0.0% |
| MDT Medtronic PLC | 0.85% | 114,555 | $9.0M | Reduce -0.3% |
| CSCO Cisco Systems Inc. | 0.85% | 76,816 | $9.0M | Add +1059.7% |
| EMLC Vaneck JPM Em Local Curr BND | 0.82% | 341,363 | $8.7M | Add +2.5% |
| PG The Procter & Gamble Co. | 0.82% | 59,169 | $8.7M | Reduce -0.6% |
| SCHA Schwab US Small-Cap ETF | 0.74% | 218,995 | $7.9M | Add +8.5% |
| BIV Vanguard Intermediate-Term B | 0.74% | 102,792 | $7.9M | Add +12.7% |
| Q Qnity Electronics Inc. | 0.74% | 47,876 | $7.8M | Add +0.1% |
| PEP Pepsico Inc. | 0.72% | 56,765 | $7.7M | Add +0.4% |
| VEA Vanguard Ftse Developed ETF | 0.72% | 107,554 | $7.7M | Add +11.5% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.71% | 34,757 | $7.6M | Add +3.8% |
| EFAV iShares MSCI Eafe Min Vol Fa | 0.66% | 80,264 | $7.0M | Reduce -0.8% |
| AAPL Apple Inc. | 0.66% | 24,075 | $7.0M | Reduce -0.7% |
| VTI VG Morningstar TS MKT ETF-US | 0.65% | 18,791 | $7.0M | Reduce -1.6% |
| PSX Phillips 66 | 0.63% | 39,282 | $6.6M | Reduce -0.0% |
| BDX Becton Dickinson and Co. | 0.58% | 40,561 | $6.1M | Reduce -0.0% |
| SCHD Schwab US DVD Equity ETF | 0.49% | 163,262 | $5.2M | Add +4.0% |
| VWO Vanguard Ftse Emerging Marke | 0.46% | 81,337 | $4.9M | Add +10.5% |
| PDN Inv Rafi Dev MKT US SM-Usdin | 0.41% | 96,912 | $4.4M | Reduce -1.1% |
| BND Vanguard Total Bond Market | 0.40% | 57,713 | $4.2M | Add +16.8% |
| DD Dupont DE Nemours Inc. | 0.39% | 30,630 | $4.2M | Add +3.8% |
| PFE Pfizer Inc. | 0.37% | 163,108 | $3.9M | Reduce -0.0% |
| LEN Lennar Corp. Class A | 0.35% | 41,401 | $3.7M | Reduce -0.8% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.35% | 5 | $3.7M | Add +150.0% |
| FNDX Schwab Fndmntl US LRG Co. ETF | 0.33% | 112,177 | $3.5M | Add +47.7% |
| NOBL Proshares S&P 500 Dividend A | 0.32% | 61,435 | $3.5M | Reduce -3.6% |
| AMZN Amazon.com Inc. | 0.32% | 14,464 | $3.4M | Add +0.0% |
| VT Vanguard Tot World STK ETF | 0.32% | 21,859 | $3.4M | Add +8.6% |
| FNDC Schwab Fndmnt Intl SM Eq ETF | 0.30% | 66,204 | $3.2M | Add +11.7% |
| VNQ Vanguard Real Estate ETF | 0.30% | 33,322 | $3.2M | Add +14.7% |
| FNDA Schwab Fndmntl US SM Co. ETF | 0.29% | 81,394 | $3.1M | Add +8.5% |
| SPGI S&P Global Inc. | 0.29% | 7,590 | $3.1M | No change |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 0.29% | 58,028 | $3.1M | Add +10.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.28% | 6,021 | $3.0M | Add +6.2% |
| COST Costco Wholesale Corp. | 0.26% | 2,936 | $2.7M | Reduce -0.6% |
| GOOG Alphabet Inc. Class C | 0.25% | 7,457 | $2.6M | Reduce -6.5% |
| AVO Mission Produce Inc. | 0.23% | 211,750 | $2.5M | No change |
| SCHX Schwab US Large-Cap ETF | 0.20% | 72,039 | $2.1M | Add +0.0% |
| VIG Vanguard Dividend Apprec ETF | 0.19% | 8,402 | $2.0M | Reduce -0.0% |
| BNDX Vanguard Total Intl Bond ETF | 0.19% | 40,724 | $2.0M | Add +1.6% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.17% | 22,400 | $1.8M | Add +1.0% |
| NVDA Nvidia Corp. | 0.15% | 8,158 | $1.6M | Reduce -2.5% |
| SBUX Starbucks Corp. | 0.15% | 15,952 | $1.6M | Add +95.2% |
| FNDE Schwab Fndmntl Em MRK Eq ETF | 0.14% | 38,696 | $1.5M | Add +1.4% |
| GOOGL Alphabet Inc. Class A | 0.13% | 3,940 | $1.4M | Add +1.3% |
| DFAX Dimensional World Ex US Core | 0.13% | 37,754 | $1.4M | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.13% | 1,839 | $1.4M | Reduce -19.6% |
| QQQ Invesco QQQ Trust Series 1 | 0.13% | 1,851 | $1.4M | Add +0.5% |
| VGT Vanguard Info Tech ETF | 0.12% | 11,047 | $1.3M | Reduce -2.1% |
| TSLA Tesla Inc. | 0.12% | 3,051 | $1.3M | Reduce -0.1% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.10% | 21,144 | $1.1M | No change |
| IBRX Immunitybio Inc. | 0.09% | 111,698 | $978K | Add +11.7% |
| SCHZ Schwab US Aggregate Bond ETF | 0.08% | 38,900 | $900K | Add +0.0% |
| GLD SPDR Gold Shares | 0.07% | 1,988 | $732K | Add +4.9% |
| VYM Vanguard High DVD Yield ETF | 0.07% | 4,464 | $705K | Add +3.1% |
| WFC Wells Fargo & Co. | 0.06% | 8,241 | $681K | Reduce -2.1% |
| LOW Lowe's Cos Inc. | 0.06% | 3,028 | $668K | No change |
| IJH iShares Core S&P Midcap ETF | 0.06% | 8,458 | $652K | Add +9.7% |
| AVGO Broadcom Inc. | 0.06% | 1,723 | $651K | Reduce -4.2% |
| CMI Cummins Inc. | 0.06% | 911 | $650K | Add +0.1% |
| SCZ iShares MSCI Eafe Small-Cap | 0.06% | 7,819 | $643K | Reduce -3.0% |
| COR Cencora Inc. | 0.06% | 2,256 | $638K | Reduce -8.0% |
Portfolio Sells Q1 2026 → Q2 2026
| NKE Nike Inc. Class B | Reduce -96.2% | 0.02% | −0.57 |
| WMT Walmart Inc. | Reduce -0.2% | 2.31% | −0.47 |
| KR Kroger Co. | Reduce -0.1% | 0.91% | −0.39 |
| MSFT Microsoft Corp. | Reduce -0.4% | 2.36% | −0.21 |
| RSG Republic Services Inc. | Reduce -0.0% | 1.55% | −0.19 |
| MDT Medtronic PLC | Reduce -0.3% | 0.85% | −0.18 |
| PSX Phillips 66 | Reduce -0.0% | 0.63% | −0.11 |
| PFE Pfizer Inc. | Reduce -0.0% | 0.37% | −0.10 |
| EFAV iShares MSCI Eafe Min Vol Fa | Reduce -0.8% | 0.66% | −0.10 |
| BDX Becton Dickinson and Co. | Reduce -0.0% | 0.58% | −0.08 |
| PG The Procter & Gamble Co. | Reduce -0.6% | 0.82% | −0.07 |
| WAT Waters Corp. | Sold out | 0.00% | −0.06 |
| COST Costco Wholesale Corp. | Reduce -0.6% | 0.26% | −0.04 |
| HD Home Depot Inc. | Reduce -0.4% | 1.53% | −0.04 |
| PDN Inv Rafi Dev MKT US SM-Usdin | Reduce -1.1% | 0.41% | −0.03 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -19.6% | 0.13% | −0.02 |
| COP Conocophillips | Sold out | 0.00% | −0.02 |
| NOBL Proshares S&P 500 Dividend A | Reduce -3.6% | 0.32% | −0.02 |
| LEN Lennar Corp. Class A | Reduce -0.8% | 0.35% | −0.02 |
| COR Cencora Inc. | Reduce -8.0% | 0.06% | −0.02 |
| NFLX Netflix Inc. | Reduce -2.0% | 0.03% | −0.02 |
| MINT PIMCO Enhanced Short Maturit | Reduce -14.8% | 0.03% | −0.01 |
| WFC Wells Fargo & Co. | Reduce -2.1% | 0.06% | −0.00 |
| SCZ iShares MSCI Eafe Small-Cap | Reduce -3.0% | 0.06% | −0.00 |
| IWF iShares Russell 1000 Growth | Reduce -19.9% | 0.02% | −0.00 |
| META Meta Platforms Inc. Class A | Reduce -1.0% | 0.03% | −0.00 |
| VNQI Vanguard GLBL Ex-US Real Est | Reduce -0.6% | 0.02% | −0.00 |
| ABBV Abbvie Inc. | Reduce -7.4% | 0.06% | −0.00 |
| SCHF Schwab Intl Equity ETF | Reduce -3.9% | 0.04% | −0.00 |
| ESGE iShares Inc. iShares ESG Awar | Reduce -9.2% | 0.03% | −0.00 |
| VSGX Vanguard ESG Intl Stock ETF | Reduce -4.3% | 0.05% | +0.00 |
| DFAC Dimensional US Core Equity 2 | Reduce -2.9% | 0.05% | +0.00 |
| VIG Vanguard Dividend Apprec ETF | Reduce -0.0% | 0.19% | +0.00 |
| ESGV Vanguard ESG US Stock ETF | Reduce -0.8% | 0.05% | +0.00 |
| NVDA Nvidia Corp. | Reduce -2.5% | 0.15% | +0.00 |
| TSLA Tesla Inc. | Reduce -0.1% | 0.12% | +0.00 |
| AVGO Broadcom Inc. | Reduce -4.2% | 0.06% | +0.00 |
| RY Royal Bank of Canada | Reduce -3.2% | 0.03% | +0.00 |
| VBK Van Morst SML-Cap Gro-Usd Inc. | Reduce -0.4% | 0.04% | +0.00 |
| GOOG Alphabet Inc. Class C | Reduce -6.5% | 0.25% | +0.01 |
| JPM JPMorgan Chase & Co. | Reduce -0.7% | 1.41% | +0.01 |
| AAPL Apple Inc. | Reduce -0.7% | 0.66% | +0.02 |
| VGT Vanguard Info Tech ETF | Reduce -2.1% | 0.12% | +0.02 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -1.6% | 0.65% | +0.02 |
| MTB M & T Bank Corp. | Reduce -0.0% | 0.87% | +0.04 |
| DE Deere & Co. | Reduce -0.1% | 1.93% | +0.05 |
| PNC PNC Financial Services Group | Reduce -0.1% | 1.02% | +0.08 |
| CARR Carrier Global Corp. | Reduce -0.1% | 1.00% | +0.16 |
| RPG Invesco S&P 500 Pure Growth | Reduce -0.6% | 1.23% | +0.24 |
| CAT Caterpillar Inc. | Reduce -18.2% | 3.10% | +0.34 |
Portfolio Buys Q1 2026 → Q2 2026
| CSCO Cisco Systems Inc. | Add +1059.7% | 0.85% | +0.80 |
| TXN Texas Instruments Inc. | Add +0.3% | 1.59% | +0.46 |
| CVS CVS Health Corp. | Add +0.3% | 1.46% | +0.35 |
| IUSG iShares Core S&P U.S. Growth | Add +0.7% | 3.35% | +0.35 |
| IJR iShares Core S&P Small-Cap E | Add +1.4% | 2.91% | +0.28 |
| NEE Nextera Energy Inc. | Add +38.0% | 1.53% | +0.25 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +0.8% | 2.88% | +0.24 |
| BRK.A Berkshire Hathaway Inc. Class A | Add +150.0% | 0.35% | +0.20 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +1.5% | 4.96% | +0.20 |
| Q Qnity Electronics Inc. | Add +0.1% | 0.74% | +0.17 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +7.9% | 1.30% | +0.15 |
| SCHA Schwab US Small-Cap ETF | Add +8.5% | 0.74% | +0.14 |
| DFAX Dimensional World Ex US Core | New | 0.13% | +0.13 |
| FNDX Schwab Fndmntl US LRG Co. ETF | Add +47.7% | 0.33% | +0.11 |
| VEA Vanguard Ftse Developed ETF | Add +11.5% | 0.72% | +0.09 |
| JIRE JPMorgan Int Res Enh Eqty | Add +2.8% | 3.73% | +0.08 |
| SBUX Starbucks Corp. | Add +95.2% | 0.15% | +0.08 |
| IVV iShares Core S&P 500 ETF | Add +2.7% | 1.00% | +0.07 |
| SPEM State Street SP PTF Em ETF | Add +0.8% | 3.94% | +0.07 |
| IBM Intl Business Machines Corp. | Add +0.0% | 1.12% | +0.06 |
| VWO Vanguard Ftse Emerging Marke | Add +10.5% | 0.46% | +0.05 |
| FNDA Schwab Fndmntl US SM Co. ETF | Add +8.5% | 0.29% | +0.04 |
| DFAI Dimensional International Co. | New | 0.04% | +0.04 |
| REET iShares Global REIT ETF | Add +4.0% | 0.89% | +0.04 |
| VNQ Vanguard Real Estate ETF | Add +14.7% | 0.30% | +0.04 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +3.8% | 0.71% | +0.04 |
| VT Vanguard Tot World STK ETF | Add +8.6% | 0.32% | +0.04 |
| AMGN Amgen Inc. | Add +116.5% | 0.06% | +0.03 |
| DUHP Dimensional US High Profi Et | New | 0.03% | +0.03 |
| AMD Advanced Micro Devices | New | 0.03% | +0.03 |
| GLW Corning Inc. | New | 0.03% | +0.03 |
| IJT iShares S&P Small-Cap 600 GR | New | 0.03% | +0.03 |
| BND Vanguard Total Bond Market | Add +16.8% | 0.40% | +0.02 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Add +10.5% | 0.29% | +0.02 |
| DFUS Dimensional US Eq MKT ETF | New | 0.02% | +0.02 |
| EAGG iShares ESG Aware US Aggrega | New | 0.02% | +0.02 |
| PM Philip Morris International | New | 0.02% | +0.02 |
| DFSI Dimensional Int Sus COR1 ETF | New | 0.02% | +0.02 |
| IWM iShares Russell 2000 ETF | New | 0.02% | +0.02 |
| FNDC Schwab Fndmnt Intl SM Eq ETF | Add +11.7% | 0.30% | +0.02 |
| TQQQ Proshares Ultrapro QQQ | New | 0.02% | +0.02 |
| QQQ Invesco QQQ Trust Series 1 | Add +0.5% | 0.13% | +0.02 |
| LLY Eli Lilly & Co. | New | 0.02% | +0.02 |
| GOOGL Alphabet Inc. Class A | Add +1.3% | 0.13% | +0.02 |
| BIV Vanguard Intermediate-Term B | Add +12.7% | 0.74% | +0.02 |
| AMZN Amazon.com Inc. | Add +0.0% | 0.32% | +0.01 |
| TSM Taiwan Semiconductor-SP ADR | Add +4.2% | 0.05% | +0.01 |
| IBRX Immunitybio Inc. | Add +11.7% | 0.09% | +0.01 |
| CMI Cummins Inc. | Add +0.1% | 0.06% | +0.01 |
| SCHV Schwab US Large-Cap Value | Add +19.8% | 0.05% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 157 | $1.1B | VO, IEFA, IGSB, SPEM, JIRE |
| Q1 2026 | 146 | $971.1M | VO, IGSB, IEFA, SPEM, JIRE |
| Q4 2025 | 143 | $961.2M | VO, IEFA, IGSB, SPEM, JIRE |
| Q3 2025 | 140 | $953.8M | VO, IGSB, IEFA, SPEM, MSFT |
| Q2 2025 | 138 | $898.7M | VO, IGSB, IEFA, MSFT, SPEM |
| Q1 2025 | 132 | $832.3M | IGSB, VO, IEFA, SPEM, MSFT |
| Q4 2024 | 128 | $803.8M | IGSB, VO, MSFT, IEFA, SPEM |
| Q3 2024 | 127 | $792.7M | IGSB, VO, MSFT, SPEM, IEFA |
| Q2 2024 | 128 | $734.9M | MSFT, IGSB, VO, SPEM, CAT |
| Q1 2024 | 127 | $745.5M | MSFT, IGSB, VO, CAT, SPEM |