Cutter & CO Brokerage, Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 1, 2025), Cutter & CO Brokerage, Inc. reported 183 stock positions worth $422.7 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 15.4% of the portfolio, followed by Enterprise Products Partners (EPD, 5.5%) and Novo-Nordisk A/S-Spons ADR (NVO, 4.6%). Compared with Q4 2024, it opened 34 new positions, sold out of 60, added to 74 and reduced 65. The biggest buy was a new position in Transdigm (TDG) and the biggest sale Novo-Nordisk A/S-Spons ADR (NVO, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- Ballwin, MO
- CIK
- 0001406995
- Portfolio Value
- $422.7M (Q1 2025)
- SEC Filing
- 0001437749-25-014145 ↗ filed May 1, 2025
Holdings Value
Holdings 183 stocks · $422.7M
| BRK.B Berkshire Hathaway Inc. Class B | 15.37% | 122,013 | $65.0M | Reduce -9.3% |
| EPD Enterprise Products Partners | 5.53% | 684,113 | $23.4M | Add +2.3% |
| NVO Novo-Nordisk A/S-Spons ADR | 4.65% | 282,972 | $19.6M | Reduce -2.5% |
| HEI Heico Corp. | 4.09% | 64,647 | $17.3M | Add +0.3% |
| GOOG Alphabet Inc. Class C | 4.04% | 109,214 | $17.1M | Add +4.0% |
| LIN Linde PLC | 3.43% | 31,098 | $14.5M | Reduce -6.8% |
| CP Canadian Pacific Kansas City | 3.19% | 191,875 | $13.5M | Reduce -7.1% |
| ET Energy Transfer LP | 2.47% | 562,361 | $10.5M | Add +17.6% |
| AMZN Amazon.com Inc. | 1.98% | 43,971 | $8.4M | Add +36.6% |
| LLY Eli Lilly & Co. | 1.94% | 9,919 | $8.2M | Add +12.9% |
| WSO Watsco Inc. | 1.81% | 15,020 | $7.6M | Add +9.1% |
| AWK American Water Works Co. Inc. | 1.71% | 49,061 | $7.2M | Reduce -3.2% |
| TDG Transdigm Group Inc. | 1.67% | 5,112 | $7.1M | New |
| AAAU Goldman Sachs Physical Gold | 1.64% | 223,828 | $6.9M | Reduce -0.5% |
| REGN Regeneron Pharmaceuticals | 1.63% | 10,838 | $6.9M | Add +36.2% |
| BCPC Balchem Corp. | 1.61% | 40,968 | $6.8M | Reduce -2.6% |
| MSFT Microsoft Corp. | 1.53% | 17,210 | $6.5M | Add +123.5% |
| AAPL Apple Inc. | 1.37% | 26,119 | $5.8M | Reduce -19.1% |
| OXY Occidental Petroleum Corp. | 1.33% | 113,475 | $5.6M | Add +8.8% |
| UNP Union Pacific Corp. | 1.32% | 23,625 | $5.6M | Reduce -4.6% |
| META Meta Platforms Inc. Class A | 1.31% | 9,616 | $5.5M | Add +1.5% |
| VOO Vanguard S&P 500 ETF | 1.18% | 9,690 | $5.0M | Reduce -1.3% |
| V Visa Inc. Class A | 1.17% | 14,116 | $4.9M | Add +8.8% |
| MA Mastercard Inc. Class A | 1.07% | 8,296 | $4.5M | Add +100.6% |
| MP MP Materials Corp. | 1.05% | 181,048 | $4.4M | Reduce -3.6% |
| BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC | 0.98% | 36,210 | $4.1M | Reduce -4.1% |
| VRTX Vertex Pharmaceuticals Inc. | 0.96% | 8,407 | $4.1M | Reduce -28.5% |
| LHX L3HARRIS Technologies Inc. | 0.91% | 18,442 | $3.9M | Add +6.2% |
| ZBRA Zebra Technologies Corp. Class A | 0.88% | 13,091 | $3.7M | Reduce -3.9% |
| ADM Archer-Daniels-Midland Co. | 0.87% | 76,246 | $3.7M | Reduce -6.5% |
| NOC Northrop Grumman Corp. | 0.84% | 6,953 | $3.6M | Reduce -2.3% |
| RGCO RGC Resources Inc. | 0.73% | 147,854 | $3.1M | Add +7.9% |
| LMT Lockheed Martin Corp. | 0.73% | 6,862 | $3.1M | Add +40.3% |
| NVDA Nvidia Corp. | 0.67% | 26,155 | $2.8M | Reduce -7.9% |
| UGI Ugi Corp. | 0.65% | 82,466 | $2.7M | Add +8.7% |
| PFE Pfizer Inc. | 0.60% | 99,867 | $2.5M | Reduce -10.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.60% | 4,520 | $2.5M | Add +2.1% |
| CSX CSX Corp. | 0.60% | 85,882 | $2.5M | Reduce -1.4% |
| AVGO Broadcom Inc. | 0.57% | 14,416 | $2.4M | Reduce -10.5% |
| FIXD First Trust Smith Opportunis | 0.56% | 54,430 | $2.4M | Add +10.5% |
| JOE The St Joe Co. | 0.56% | 50,673 | $2.4M | New |
| CVX Chevron Corp. | 0.55% | 13,861 | $2.3M | Reduce -23.7% |
| VGT Vanguard Info Tech ETF | 0.50% | 3,913 | $2.1M | Reduce -1.2% |
| UNH Unitedhealth Group Inc. | 0.49% | 3,963 | $2.1M | New |
| CIBR First Trust Nasdaq Cybersecu | 0.49% | 32,918 | $2.1M | Add +4.3% |
| QQQ Invesco QQQ Trust Series 1 | 0.47% | 4,253 | $2.0M | Reduce -20.6% |
| VDE Vanguard Energy ETF | 0.46% | 15,148 | $2.0M | New |
| PSLV Sprott Physical Silver Trust | 0.46% | 168,771 | $2.0M | Add +8.1% |
| SCHD Schwab US DVD Equity ETF | 0.46% | 69,466 | $1.9M | Add +4.8% |
| PLTR Palantir Technologies Inc. Class A | 0.45% | 22,642 | $1.9M | Reduce -15.4% |
| IWM iShares Russell 2000 ETF | 0.45% | 9,558 | $1.9M | Reduce -3.5% |
| ABBV Abbvie Inc. | 0.38% | 7,744 | $1.6M | Add +9.5% |
| T AT&T Inc. | 0.37% | 55,893 | $1.6M | Reduce -17.5% |
| VAW Vanguard Materials ETF | 0.36% | 8,086 | $1.5M | Add +0.2% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.36% | 3,630 | $1.5M | Add +5.8% |
| ARCC Ares Capital Corp. | 0.35% | 67,158 | $1.5M | Add +6.2% |
| LRCX Lam Research Corp. | 0.35% | 20,342 | $1.5M | Reduce -20.9% |
| FIW First Trust Water ETF | 0.31% | 13,049 | $1.3M | Reduce -1.1% |
| GOOGL Alphabet Inc. Class A | 0.30% | 8,224 | $1.3M | Reduce -0.9% |
| SLV iShares Silver Trust | 0.29% | 40,203 | $1.2M | Reduce -9.4% |
| GDX Vaneck Gold Miners ETF | 0.28% | 25,575 | $1.2M | Reduce -2.7% |
| JPM JPMorgan Chase & Co. | 0.25% | 4,356 | $1.1M | Add +0.9% |
| HII Huntington Ingalls Industrie | 0.25% | 5,144 | $1.0M | Reduce -7.7% |
| BMY Bristol-Myers Squibb Co. | 0.25% | 17,056 | $1.0M | Add +8.0% |
| VZ Verizon Communications Inc. | 0.24% | 22,826 | $1.0M | Add +9.9% |
| SCHG Schwab US Large-Cap Growth | 0.24% | 40,550 | $1.0M | Add +0.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.24% | 4,061 | $1.0M | Reduce -4.4% |
| CAH Cardinal Health Inc. | 0.24% | 7,296 | $1.0M | Add +29.3% |
| HD Home Depot Inc. | 0.23% | 2,668 | $978K | Add +10.8% |
| PANW Palo Alto Networks Inc. | 0.22% | 5,406 | $922K | Add +77.0% |
| BBW Build-A-Bear Workshop Inc. | 0.22% | 24,751 | $920K | No change |
| VLO Valero Energy Corp. | 0.20% | 6,477 | $855K | New |
| SCHB Schwab US Broad Market ETF | 0.20% | 39,586 | $852K | Add +16.3% |
| QQQM Invesco Nasdaq 100 ETF | 0.20% | 4,322 | $834K | Reduce -2.5% |
| MO Altria Group Inc. | 0.19% | 13,645 | $819K | Add +56.2% |
| FXO First Trust Financial Alphad | 0.19% | 15,246 | $808K | Add +0.2% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.19% | 1 | $798K | No change |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.19% | 14,487 | $798K | Add +4.9% |
| MRK Merck & Co. Inc. | 0.19% | 8,763 | $787K | Add +21.6% |
| PHYS Sprott Physical Gold Trust | 0.18% | 31,337 | $754K | Add +47.5% |
| GILD Gilead Sciences Inc. | 0.17% | 6,423 | $720K | Add +44.3% |
| SHEL Shell PLC-ADR | 0.16% | 9,413 | $690K | Reduce -37.6% |
| WMT Walmart Inc. | 0.15% | 7,338 | $644K | Add +4.4% |
| CSCO Cisco Systems Inc. | 0.15% | 10,013 | $618K | Add +48.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.15% | 14,766 | $616K | Add +38.8% |
| CI The Cigna Group | 0.14% | 1,852 | $610K | Reduce -22.4% |
| MCD McDonald's Corp. | 0.14% | 1,913 | $597K | Add +0.1% |
| NEE Nextera Energy Inc. | 0.14% | 8,351 | $592K | Add +9.0% |
| IYW iShares Ustechnology ETF | 0.14% | 4,080 | $573K | Reduce -8.1% |
| AMGN Amgen Inc. | 0.13% | 1,783 | $555K | Add +120.4% |
| JNJ Johnson & Johnson | 0.13% | 3,333 | $553K | Add +42.7% |
| CB Chubb Ltd. | 0.13% | 1,806 | $545K | Add +8.8% |
| TIP iShares Tips Bond ETF | 0.13% | 4,877 | $542K | Reduce -3.0% |
| PM Philip Morris International | 0.13% | 3,400 | $540K | No change |
| OHI Omega Healthcare Investors | 0.13% | 14,046 | $535K | Add +63.3% |
| XGDVX Gabelli Dividend & Income TR | 0.13% | 21,912 | $529K | Add +1.1% |
| TFC Truist Financial Corp. | 0.11% | 11,653 | $480K | New |
| VIG Vanguard Dividend Apprec ETF | 0.11% | 2,424 | $470K | New |
| ORCL Oracle Corp. | 0.11% | 3,343 | $467K | New |
| HPE Hewlett Packard Enterprise | 0.11% | 30,189 | $466K | Add +116.2% |
Portfolio Sells Q4 2024 → Q1 2025
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -2.5% | 4.65% | −1.44 |
| AAPL Apple Inc. | Reduce -19.1% | 1.37% | −0.60 |
| PEP Pepsico Inc. | Sold out | 0.00% | −0.58 |
| NFG National Fuel Gas Co. | Sold out | 0.00% | −0.57 |
| CP Canadian Pacific Kansas City | Reduce -7.1% | 3.19% | −0.46 |
| ZBRA Zebra Technologies Corp. Class A | Reduce -3.9% | 0.88% | −0.41 |
| NSC Norfolk Southern Corp. | Sold out | 0.00% | −0.36 |
| AVGO Broadcom Inc. | Reduce -10.5% | 0.57% | −0.34 |
| NVDA Nvidia Corp. | Reduce -7.9% | 0.67% | −0.26 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -20.6% | 0.47% | −0.20 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -28.5% | 0.96% | −0.19 |
| HWKN Hawkins Inc. | Sold out | 0.00% | −0.19 |
| BF.B Brown-Forman Corp. Class B | Sold out | 0.00% | −0.15 |
| ADM Archer-Daniels-Midland Co. | Reduce -6.5% | 0.87% | −0.14 |
| KMI Kinder Morgan Inc. | Sold out | 0.00% | −0.14 |
| ARLP Alliance Resource Partners | Sold out | 0.00% | −0.13 |
| PFE Pfizer Inc. | Reduce -10.0% | 0.60% | −0.12 |
| TAK Takeda Pharmaceutic-SP ADR | Sold out | 0.00% | −0.12 |
| VOO Vanguard S&P 500 ETF | Reduce -1.3% | 1.18% | −0.11 |
| LRCX Lam Research Corp. | Reduce -20.9% | 0.35% | −0.10 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −0.10 |
| VGT Vanguard Info Tech ETF | Reduce -1.2% | 0.50% | −0.10 |
| BATRA Atlanta Braves Holdings in-A | Sold out | 0.00% | −0.10 |
| NOBL Proshares S&P 500 Dividend A | Sold out | 0.00% | −0.09 |
| CVX Chevron Corp. | Reduce -23.7% | 0.55% | −0.09 |
| CSX CSX Corp. | Reduce -1.4% | 0.60% | −0.09 |
| EG Everest Group Ltd. | Sold out | 0.00% | −0.09 |
| XYZ Block Inc. | Sold out | 0.00% | −0.08 |
| IWM iShares Russell 2000 ETF | Reduce -3.5% | 0.45% | −0.08 |
| GOOGL Alphabet Inc. Class A | Reduce -0.9% | 0.30% | −0.08 |
| SDY SS SPDR S&P Dividend ETF | Sold out | 0.00% | −0.08 |
| IVV iShares Core S&P 500 ETF | Sold out | 0.00% | −0.08 |
| DHR Danaher Corp. | Reduce -54.6% | 0.05% | −0.08 |
| KO The Coca-Cola Co. | Reduce -56.5% | 0.06% | −0.07 |
| SHEL Shell PLC-ADR | Reduce -37.6% | 0.16% | −0.07 |
| SPOT Spotify Technology SA | Sold out | 0.00% | −0.07 |
| MRVL Marvell Technology Inc. | Sold out | 0.00% | −0.06 |
| KEY Keycorp | Sold out | 0.00% | −0.06 |
| AGYS Agilysys Inc. | Sold out | 0.00% | −0.06 |
| BCPC Balchem Corp. | Reduce -2.6% | 1.61% | −0.06 |
| BG Bunge Global SA | Reduce -41.5% | 0.08% | −0.06 |
| CG The Carlyle Group Inc. | Sold out | 0.00% | −0.06 |
| JHMM John Hancock Multi Fact Mid | Sold out | 0.00% | −0.06 |
| CRWS Crown Crafts Inc. | Sold out | 0.00% | −0.06 |
| QYLD Global X Nasd 100 Cov Call | Sold out | 0.00% | −0.06 |
| DIS The Walt Disney Co. | Sold out | 0.00% | −0.06 |
| LCNB LCNB Corporation | Sold out | 0.00% | −0.06 |
| TGT Target Corp. | Sold out | 0.00% | −0.06 |
| UNP Union Pacific Corp. | Reduce -4.6% | 1.32% | −0.06 |
| VOOG Vanguard S&P 500 Growth ETF | Sold out | 0.00% | −0.06 |
Portfolio Buys Q4 2024 → Q1 2025
| TDG Transdigm Group Inc. | New | 1.67% | +1.67 |
| MSFT Microsoft Corp. | Add +123.5% | 1.53% | +0.74 |
| JOE The St Joe Co. | New | 0.56% | +0.56 |
| MA Mastercard Inc. Class A | Add +100.6% | 1.07% | +0.54 |
| UNH Unitedhealth Group Inc. | New | 0.49% | +0.49 |
| VDE Vanguard Energy ETF | New | 0.46% | +0.46 |
| EPD Enterprise Products Partners | Add +2.3% | 5.53% | +0.41 |
| HEI Heico Corp. | Add +0.3% | 4.09% | +0.35 |
| LLY Eli Lilly & Co. | Add +12.9% | 1.94% | +0.28 |
| AMZN Amazon.com Inc. | Add +36.6% | 1.98% | +0.26 |
| REGN Regeneron Pharmaceuticals | Add +36.2% | 1.63% | +0.24 |
| WSO Watsco Inc. | Add +9.1% | 1.81% | +0.21 |
| VLO Valero Energy Corp. | New | 0.20% | +0.20 |
| ET Energy Transfer LP | Add +17.6% | 2.47% | +0.19 |
| V Visa Inc. Class A | Add +8.8% | 1.17% | +0.17 |
| LMT Lockheed Martin Corp. | Add +40.3% | 0.73% | +0.15 |
| UGI Ugi Corp. | Add +8.7% | 0.65% | +0.12 |
| TFC Truist Financial Corp. | New | 0.11% | +0.11 |
| VIG Vanguard Dividend Apprec ETF | New | 0.11% | +0.11 |
| ORCL Oracle Corp. | New | 0.11% | +0.11 |
| GLW Corning Inc. | New | 0.10% | +0.10 |
| HSBC HSBC Holdings PLC-Spons ADR | New | 0.10% | +0.10 |
| PSLV Sprott Physical Silver Trust | Add +8.1% | 0.46% | +0.10 |
| TMO Thermo Fisher Scientific Inc. | New | 0.09% | +0.09 |
| PANW Palo Alto Networks Inc. | Add +77.0% | 0.22% | +0.08 |
| MO Altria Group Inc. | Add +56.2% | 0.19% | +0.08 |
| AMGN Amgen Inc. | Add +120.4% | 0.13% | +0.08 |
| ABBV Abbvie Inc. | Add +9.5% | 0.38% | +0.08 |
| CAH Cardinal Health Inc. | Add +29.3% | 0.24% | +0.07 |
| PHYS Sprott Physical Gold Trust | Add +47.5% | 0.18% | +0.07 |
| MET Metlife Inc. | New | 0.07% | +0.07 |
| AEP American Electric Power | New | 0.07% | +0.07 |
| GILD Gilead Sciences Inc. | Add +44.3% | 0.17% | +0.07 |
| RDZN Roadzen Inc. | New | 0.07% | +0.07 |
| OXY Occidental Petroleum Corp. | Add +8.8% | 1.33% | +0.07 |
| EXC Exelon Corp. | New | 0.07% | +0.07 |
| VXUS Vanguard Total Intl Stock | New | 0.07% | +0.07 |
| ACN Accenture PLC Class A | New | 0.06% | +0.06 |
| SANW S&W Seed Co. | New | 0.06% | +0.06 |
| RGCO RGC Resources Inc. | Add +7.9% | 0.73% | +0.06 |
| QSR Restaurant Brands Intern | New | 0.06% | +0.06 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +111.2% | 0.11% | +0.06 |
| SLB SLB Ltd. | New | 0.06% | +0.06 |
| MU Micron Technology Inc. | New | 0.06% | +0.06 |
| DELL Dell Technologies -C | New | 0.06% | +0.06 |
| PRU Prudential Financial Inc. | New | 0.06% | +0.06 |
| GSY Invesco Ultra Short Duration | New | 0.05% | +0.05 |
| GRID First TRST Nasd Class Edg Sgiif | New | 0.05% | +0.05 |
| AIRR First Trust Rba American Ind | New | 0.05% | +0.05 |
| NWG Natwest Group PLC -Spon ADR | New | 0.05% | +0.05 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 0 | $0 | |
| Q1 2026 | 0 | $0 | |
| Q4 2025 | 0 | $0 | |
| Q3 2025 | 0 | $0 | |
| Q2 2025 | 0 | $0 | |
| Q1 2025 | 183 | $422.7M | BRK.B, EPD, NVO, HEI, GOOG |
| Q4 2024 | 209 | $409.8M | BRK.B, NVO, EPD, GOOG, HEI |
| Q3 2024 | 218 | $442.1M | BRK.B, NVO, EPD, CP, GOOG |
| Q2 2024 | 207 | $412.6M | BRK.B, NVO, GOOG, EPD, CP |
| Q1 2024 | 209 | $407.1M | BRK.B, NVO, EPD, CP, GOOG |