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Asset Manager ← All Institutions

CUTLER INVESTMENT COUNSEL LLC

525 BIGHAM KNOLL, JACKSONVILLE, OR 97530 • 541-770-9000

Q1 2026 · Filed 2026-05-07
Market Value
$971M
+1.0%
Holdings
150
+6
New Purchases
8
Added To
44
Closed
4
Reduced
73
Top 10 Concentration
35.6%
Turnover
8.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
PSX 0.74% 0.00% +0.74% $7M
XOM 2.08% 1.50% +0.58% $20M
CVX 1.40% 1.07% +0.33% $14M
DE 1.88% 1.59% +0.29% $18M
WMT 2.79% 2.57% +0.22% $27M
VZ 1.21% 1.00% +0.20% $12M
JNJ 1.25% 1.08% +0.17% $12M
Q 0.57% 0.41% +0.16% $6M
NEE 1.29% 1.13% +0.15% $12M
KR 1.30% 1.15% +0.15% $13M
FNDX 0.22% 0.10% +0.12% $2M
MRK 1.09% 0.98% +0.12% $11M
TXN 1.13% 1.03% +0.10% $11M
IJR 2.63% 2.54% +0.09% $26M
IBRX 0.08% 0.00% +0.08% $767K

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MSFT 2.58% 3.44% -0.86% $25M
VUG 2.65% 3.02% -0.38% $26M
IUSG 3.01% 3.37% -0.36% $29M
IBM 1.06% 1.31% -0.26% $10M
BLK 1.73% 1.99% -0.26% $17M
NKE 0.59% 0.80% -0.21% $6M
BDX 0.66% 0.84% -0.18% $6M
SCHW 1.80% 1.95% -0.15% $18M
MDT 1.03% 1.18% -0.15% $10M
JPM 1.39% 1.54% -0.15% $14M
CVS 1.11% 1.25% -0.15% $11M
HD 1.56% 1.68% -0.11% $15M
VO 4.77% 4.88% -0.11% $46M
SPEM 3.87% 3.98% -0.10% $38M
LEN 0.37% 0.45% -0.08% $4M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 59.2%
Industrials 9.7%
Consumer Defensive 6.5%
Technology 6.3%
Healthcare 5.9%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 45 $385M 39.7%
Large Cap 83 $508M 52.3%
Mid Cap 17 $61M 6.3%
Small Cap 5 $17M 1.8%

Portfolio Analytics

Avg Market Cap
$370.3B
Median Market Cap
$90.0B
Avg P/E
35.5
Median P/E
27.0
Avg Dividend Yield
0.02%
Avg Beta
0.93
# Stocks
72
# ETFs / Funds
78

Top Holdings (150 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 VO 4.77% 161,267 $46M $287.18 -$574K -288 -0.2%
2 IGSB 4.62% 853,088 $45M $52.56 $396K +12,649 +1.5%
3 IEFA 4.58% 490,822 $44M $90.53 -$153K -7,585 -1.5%
4 SPEM 3.87% 801,642 $38M $46.91 -$620K -14,957 -1.8%
5 JIRE 3.65% 467,420 $35M $75.74 $566K +2,195 +0.5%
6 IUSG 3.01% 188,165 $29M $155.11 -$3M -4,469 -2.3%
7 SPAB 2.95% 1,118,858 $29M $25.62 $255K +15,545 +1.4%
8 WMT 2.79% 217,517 $27M $124.52 $2M -3,821 -1.7%
9 CAT 2.76% 37,823 $27M $708.47 -$217K -9,331 -19.8%
10 VUG 2.65% 58,824 $26M $436.79 -$3M -709 -1.2%
11 IJR 2.63% 205,385 $26M $124.31 $1M +2,561 +1.3%
12 GOVT 2.62% 1,111,849 $25M $22.91 $77K +8,911 +0.8%
13 MSFT 2.58% 67,557 $25M $370.17 -$8M -788 -1.1%
14 RTX 2.28% 114,965 $22M $192.90 $841K -1,373 -1.2%
15 XOM 2.08% 119,008 $20M $169.66 $6M -528 -0.4%
16 DE 1.88% 32,350 $18M $564.93 $3M -441 -1.3%
17 SCHW 1.80% 186,331 $18M $93.98 -$1M -1,695 -0.9%
18 RSG 1.75% 77,527 $17M $219.02 $272K -1,309 -1.7%
19 BLK 1.73% 17,500 $17M $961.70 -$2M -361 -2.0%
20 MCD 1.61% 50,344 $16M $310.79 $34K -738 -1.4%
21 HD 1.56% 46,205 $15M $328.89 -$911K -605 -1.3%
22 CVX 1.40% 65,806 $14M $206.90 $3M -1,932 -2.9%
23 JPM 1.39% 45,921 $14M $294.16 -$1M +15 +0.0%
24 KR 1.30% 174,996 $13M $72.36 $2M -2,489 -1.4%
25 NEE 1.29% 134,355 $12M $92.88 $2M -997 -0.7%
26 JNJ 1.25% 49,823 $12M $244.44 $2M -354 -0.7%
27 VZ 1.21% 233,509 $12M $50.20 $2M -2,972 -1.3%
28 SPLG 1.15% 145,782 $11M $76.54 $125K +8,241 +6.0%
29 TXN 1.13% 56,340 $11M $194.14 $1M -671 -1.2%
30 CVS 1.11% 149,514 $11M $71.82 -$1M -2,167 -1.4%
31 MRK 1.09% 87,631 $11M $121.12 $1M -949 -1.1%
32 IBM 1.06% 42,397 $10M $242.39 -$2M -249 -0.6%
33 MDT 1.03% 114,878 $10M $87.36 -$1M -2,601 -2.2%
34 RPG 0.99% 205,947 $10M $46.74 -$587K -12,859 -5.9%
35 PNC 0.94% 44,063 $9M $208.09 -$129K -483 -1.1%
36 VSS 0.93% 62,165 $9M $145.79 $196K +301 +0.5%
37 IVV 0.93% 13,861 $9M $653.20 -$215K +329 +2.4%
38 PEP 0.90% 56,564 $9M $155.29 $469K -805 -1.4%
39 PG 0.89% 59,528 $9M $144.44 -$21K -618 -1.0%
40 EMLC 0.86% 333,138 $8M $25.11 -$333K -3,731 -1.1%
41 REET 0.86% 330,801 $8M $25.15 $245K +7,160 +2.2%
42 CARR 0.84% 145,419 $8M $56.31 $337K -3,164 -2.1%
43 MTB 0.82% 38,753 $8M $206.72 $108K -470 -1.2%
44 EFAV 0.76% 80,933 $7M $91.37 $26K -4,499 -5.3%
45 PSX 0.74% 39,285 $7M $182.18 +39,285 NEW
46 BIV 0.72% 91,218 $7M $77.18 -$70K -84 -0.1%
47 VTV 0.68% 33,475 $7M $196.20 $334K +835 +2.6%
48 BDX 0.66% 40,568 $6M $157.23 -$2M -882 -2.1%
49 VEA 0.64% 96,431 $6M $64.08 $306K +2,407 +2.6%
50 AAPL 0.63% 24,234 $6M $253.79 -$701K -967 -3.8%
51 VTI 0.63% 19,086 $6M $320.80 -$490K -638 -3.2%
52 SCHA 0.60% 201,800 $6M $29.08 $670K +19,283 +10.6%
53 NKE 0.59% 107,298 $6M $53.23 -$2M -13,093 -10.9%
54 Q 0.57% 47,836 $6M $115.38 $2M -710 -1.5%
55 SCHD 0.50% 156,949 $5M $30.68 $450K -2,173 -1.4%
56 PFE 0.47% 163,117 $5M $28.08 $465K -2,152 -1.3%
57 PDN 0.44% 98,035 $4M $43.37 -$140K -6,061 -5.8%
58 DD 0.42% 88,565 $4M $45.80 $447K -1,224 -1.4%
59 VWO 0.41% 73,605 $4M $54.05 $75K +999 +1.4%
60 BND 0.37% 49,409 $4M $73.64 $235K +3,455 +7.5%
61 LEN 0.37% 41,739 $4M $86.84 -$741K -725 -1.7%
62 NOBL 0.35% 31,882 $3M $106.01 $26K -344 -1.1%
63 SPGI 0.33% 7,590 $3M $425.34 -$738K
64 AMZN 0.31% 14,463 $3M $208.27 -$27K +1,294 +9.8%
65 COST 0.30% 2,953 $3M $996.59 $415K +22 +0.8%
66 AVO 0.30% 211,750 $3M $13.76 $457K
67 VT 0.29% 20,129 $3M $138.32 $67K +863 +4.5%
68 FNDC 0.28% 59,287 $3M $46.36 $310K +4,558 +8.3%
69 BRK-B 0.28% 5,669 $3M $479.20 -$75K +116 +2.1%
70 VNQ 0.27% 29,058 $3M $88.70 $381K +4,241 +17.1%
71 FNDF 0.26% 52,495 $3M $48.93 $415K +4,853 +10.2%
72 FNDA 0.25% 75,004 $2M $32.43 $174K +3,342 +4.7%
73 GOOG 0.24% 7,977 $2M $286.87 -$57K +502 +6.7%
74 FNDX 0.22% 75,944 $2M $27.85 $1M +41,058 +117.7%
75 BNDX 0.20% 40,096 $2M $48.05 $568K +11,987 +42.6%
76 SCHX 0.19% 72,029 $2M $25.64 -$91K +11 +0.0%
77 VIG 0.19% 8,405 $2M $215.07 -$62K -101 -1.2%
78 VCSH 0.18% 22,183 $2M $79.27 -$98K -1,098 -4.7%
79 SPY 0.15% 2,287 $1M $652.09 -$205K -193 -7.8%
80 FNDE 0.15% 38,181 $1M $38.26 $353K +7,452 +24.2%
81 NVDA 0.15% 8,369 $1M $174.41 -$120K -101 -1.2%
82 BRK-A 0.15% 2 $1M $718,140.00 -$73K
83 TSLA 0.12% 3,055 $1M $371.75 -$169K +154 +5.3%
84 GOOGL 0.12% 3,889 $1M $287.55 $30K +413 +11.9%
85 QQQ 0.11% 1,841 $1M $577.10 -$58K +17 +0.9%
86 VTEB 0.11% 21,144 $1M $49.89 -$99K -1,800 -7.8%
87 VGT 0.10% 1,410 $984K $697.67 -$83K -5 -0.3%
88 SCHZ 0.09% 38,896 $903K $23.22 -$6K +2 +0.0%
89 GLD 0.08% 1,895 $815K $430.29 -$180K -616 -24.5%
90 ABC 0.08% 2,451 $770K $314.14 -$58K
91 IBRX 0.08% 100,000 $767K $7.67 +100,000 NEW
92 SBUX 0.08% 8,173 $732K $89.59 $41K -41 -0.5%
93 LOW 0.07% 3,028 $715K $236.24 -$15K
94 SGOL 0.07% 15,636 $698K $44.62 $16K -950 -5.7%
95 WFC 0.07% 8,417 $670K $79.61 -$109K +58 +0.7%
96 VYM 0.07% 4,329 $641K $148.10 $23K +19 +0.4%
97 SCZ 0.07% 8,057 $632K $78.41 -$20K -350 -4.2%
98 SLV 0.07% 9,266 $631K $68.14 -$160K -3,020 -24.6%
99 WAT 0.06% 2,073 $617K $297.80 +2,073 NEW
100 ABBV 0.06% 2,688 $585K $217.49 -$142K -491 -15.4%

Options Breakdown

0 Calls $0 Call Value 1 Puts $0 Put Value

Top Puts

SymbolSharesValueStatus
QQQ $0 SOLD

New Positions

SymbolValue% Port
PSX $7M 0.74%
IBRX $767K 0.08%
WAT $617K 0.06%
VCIT $241K 0.02%
COP $230K 0.02%
LIT $221K 0.02%
CNP $214K 0.02%
EMXC $201K 0.02%

Sold Out Positions

SymbolValue% Port
AEP —%
IDR —%
TQQQ —%
IBIT —%
View SEC EDGAR Filings for CUTLER INVESTMENT COUNSEL LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms