0001752724-22-256309.txt : 20221118 0001752724-22-256309.hdr.sgml : 20221118 20221118083258 ACCESSION NUMBER: 0001752724-22-256309 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20220930 FILED AS OF DATE: 20221118 DATE AS OF CHANGE: 20221118 PERIOD START: 20230630 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CUTLER TRUST CENTRAL INDEX KEY: 0000892568 IRS NUMBER: 133693851 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-07242 FILM NUMBER: 221400643 BUSINESS ADDRESS: STREET 1: C/O ULTIMUS FUND SOLUTIONS, LLC STREET 2: 225 PICTORIA DRIVE, SUITE 450 CITY: CINCINNATI STATE: OH ZIP: 45246 BUSINESS PHONE: 513-587-3400 MAIL ADDRESS: STREET 1: C/O ULTIMUS FUND SOLUTIONS, LLC STREET 2: 225 PICTORIA DRIVE, SUITE 450 CITY: CINCINNATI STATE: OH ZIP: 45246 0000892568 S000001540 Cutler Equity Fund C000222167 Cutler Equity Fund DIVHX NPORT-P 1 primary_doc.xml NPORT-P false 0000892568 XXXXXXXX S000001540 C000222167 The Cutler Trust 811-07242 0000892568 549300KVSOCUTW3E0J66 525 Bigham Knoll Jacksonville 97530 514-770-9000 CUTLER EQUITY FUND S000001540 549300PVCU95CJI0CF50 2023-06-30 2022-09-30 N 168211185.67 1010465.48 167200720.19 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00 N Raytheon Technologies Corporation I07WOS4YJ0N7YRFE7309 Raytheon Technologies Corporation 75513E101 24010.00000000 NS USD 1965458.60000000 1.175508453412 Long EC CORP US N 1 N N N Bristol-Myers Squibb Company HLYYNH7UQUORYSJQCN42 Bristol-Myers Squibb Company 110122108 85363.00000000 NS USD 6068455.67000000 3.629443499468 Long EC CORP US N 1 N N N Marsh & McLennan Companies, Inc. 549300XMP3KDCKJXIU47 Marsh & McLennan Companies, Inc. 571748102 36400.00000000 NS USD 5434156.00000000 3.250079302185 Long EC CORP US N 1 N N N The Kroger Co. 6CPEOKI6OYJ13Q6O7870 Kroger Company (The) 501044101 106221.00000000 NS USD 4647168.75000000 2.779395175283 Long EC CORP US N 1 N N N Walmart Inc Y87794H0US1R65VBXU25 Walmart, Inc. 931142103 43502.00000000 NS USD 5642209.40000000 3.374512617881 Long EC CORP US N 1 N N N Becton, Dickinson and Company ICE2EP6D98PQUILVRZ91 Becton, Dickinson and Company 075887109 24025.00000000 NS USD 5353490.75000000 3.201834743245 Long EC CORP US N 1 N N N Merck & Co., Inc 4YV9Y5M8S0BRK1RP0397 Merck & Company, Inc. 58933Y105 54990.00000000 NS USD 4735738.80000000 2.832367465055 Long EC CORP US N 1 N N N McDonald's Corporation UE2136O97NLB5BYP9H04 McDonald's Corporation 580135101 29255.00000000 NS USD 6750298.70000000 4.037242598195 Long EC CORP US N 1 N N N The Charles Schwab Corporation 549300VSGCJ7E698NM85 Charles Schwab Corporation (The) 808513105 114000.00000000 NS USD 8193180.00000000 4.900206165792 Long EC CORP US N 1 N N N Johnson & Johnson 549300G0CFPGEF6X2043 Johnson & Johnson 478160104 29970.00000000 NS USD 4895899.20000000 2.928156765375 Long EC CORP US N 1 N N N Northern Trust Corporation 549300GLF98S992BC502 Northern Trust Corporation 665859104 31100.00000000 NS USD 2660916.00000000 1.591450082856 Long EC CORP US N 1 N N N Texas Instruments Incorporated WDJNR2L6D8RWOEB8T652 Texas Instruments, Inc. 882508104 33965.00000000 NS USD 5257102.70000000 3.144186636293 Long EC CORP US N 1 N N N Medtronic PLC 549300GX3ZBSQWUXY261 Medtronic plc G5960L103 39400.00000000 NS USD 3181550.00000000 1.902832712912 Long EC CORP US N 1 N N N Exxon Mobil Corporation J3WHBG0MTS7O8ZVMDC91 Exxon Mobil Corporation 30231G102 63314.00000000 NS USD 5527945.34000000 3.306173163439 Long EC CORP US N 1 N N N The Home Depot, Inc. QEKMOTMBBKA8I816DO57 Home Depot, Inc. (The) 437076102 28575.00000000 NS USD 7884985.50000000 4.715880105683 Long EC CORP US N 1 N N N Comcast Corporation 51M0QTTNCGUN7KFCFZ59 Comcast Corporation Class A 20030N101 62700.00000000 NS USD 1838991.00000000 1.099870262466 Long EC CORP US N 1 N N N Republic Services, Inc. NKNQHM6BLECKVOQP7O46 Republic Services, Inc. 760759100 46550.00000000 NS USD 6332662.00000000 3.787460958782 Long EC CORP US N 1 N N N Deere & Company PWFTNG3EI0Y73OXWDH08 Deere & Company 244199105 26644.00000000 NS USD 8896165.16000000 5.320650024647 Long EC CORP US N 1 N N N JPMorgan Chase & Co. 8I5DZWZKVSZI1NUHU748 JPMorgan Chase & Company 46625H100 27800.00000000 NS USD 2905100.00000000 1.737492516000 Long EC CORP US N 1 N N N Dupont De Nemours Inc 5493004JF0SDFLM8GD76 DuPont de Nemours, Inc. 26614N102 57891.00000000 NS USD 2917706.40000000 1.745032196442 Long EC CORP US N 1 N N N International Business Machines Corporation VGRQXHF3J8VDLUA7XE92 International Business Machines Corporation 459200101 23000.00000000 NS USD 2732630.00000000 1.634341046434 Long EC CORP US N 1 N N N The Procter & Gamble Company 2572IBTT8CCZW6AU4141 Procter & Gamble Company (The) 742718109 34930.00000000 NS USD 4409912.50000000 2.637496115440 Long EC CORP US N 1 N N N Invesco 549300UJV6OHYATSFU27 InvesCo STIT Government & Agency Portfolio INSTITUTIONAL CLASS 825252885 5396187.93000000 PA USD 5396187.93000000 3.227371224159 Long STIV RF US N 1 N N N Carrier Global Corporation 549300JE3W6CWY2NAN77 Carrier Global Corporation 14448C104 85210.00000000 NS USD 3030067.60000000 1.812233581623 Long EC CORP US N 1 N N N Chevron Corporation N/A Chevron Corporation 166764100 34870.00000000 NS USD 5009772.90000000 2.996262751923 Long EC CORP US N 1 N N N Caterpillar Inc WRJR7GS4GTRECRRTVX92 Caterpillar, Inc. 149123101 35930.00000000 NS USD 5895394.40000000 3.525938401043 Long EC CORP US N 1 N N N BlackRock, Inc. 549300LRIF3NWCU26A80 BlackRock, Inc. 09247X101 10764.00000000 NS USD 5923213.92000000 3.542576798275 Long EC CORP US N 1 N N N Union Pacific Corporation 549300LMMRSZZCZ8CL11 Union Pacific Corporation 907818108 17500.00000000 NS USD 3409350.00000000 2.039076145201 Long EC CORP US N 1 N N N Microsoft Corporation INR2EJN1ERAN0W5ZP974 Microsoft Corporation 594918104 35775.00000000 NS USD 8331997.50000000 4.983230628750 Long EC CORP US N 1 N N N Verizon Communications Inc. 2S72QS2UO2OESLG6Y829 Verizon Communications, Inc. 92343V104 139686.00000000 NS USD 5303877.42000000 3.172161826798 Long EC CORP US N 1 N N N M&T Bank Corporation 549300WYXDDBYRASEG81 M&T Bank Corporation 55261F104 23890.00000000 NS USD 4212284.80000000 2.519298239393 Long EC CORP US N 1 N N N Intel Corporation KNX4USFCNGPY45LOCE31 Intel Corporation 458140100 127965.00000000 NS USD 3297658.05000000 1.972275027435 Long EC CORP US N 1 N N N PNC Financial Services Group Inc CFGNEKW0P8842LEUIA51 PNC Financial Services Group, Inc. (The) 693475105 26300.00000000 NS USD 3929746.00000000 2.350316431373 Long EC CORP US N 1 N N N Pepsico Inc FJSUNZKFNQ5YPJ5OT455 PepsiCo, Inc. 713448108 33095.00000000 NS USD 5403089.70000000 3.231499059250 Long EC CORP US N 1 N N N 2022-10-21 Cutler Equity Fund Daniel Bauer Daniel Bauer VP, Fund Accounting XXXX NPORT-EX 2 cutler_nport.htm CUTLER SOI 09-30-22

 

CUTLER EQUITY FUND
SCHEDULE OF INVESTMENTS
September 30, 2022 (Unaudited)
     
COMMON STOCKS - 96.9% Shares Value
Communications - 4.3%    
Cable & Satellite - 1.1%    
Comcast Corporation - Class A 62,700   $ 1,838,991  
       
Telecommunications - 3.2%    
Verizon Communications, Inc. 139,686   5,303,878  
       
Consumer Discretionary - 8.8%    
Leisure Facilities & Services - 4.1%    
McDonald's Corporation 29,255   6,750,299  
       
Retail - Discretionary - 4.7%    
Home Depot, Inc. (The) 28,575   7,884,985  
       
Consumer Staples - 12.0%    
Beverages - 3.2%    
PepsiCo, Inc. 33,095   5,403,090  
       
Household Products - 2.6%    
Procter & Gamble Company (The) 34,930   4,409,912  
       
Retail - Consumer Staples - 6.2%    
Kroger Company (The) 106,221   4,647,169  
Walmart, Inc. 43,502   5,642,209  
        10,289,378  
Energy - 6.3%    
Oil & Gas Producers - 6.3%    
Chevron Corporation 34,870   5,009,773  
Exxon Mobil Corporation 63,314   5,527,945  
        10,537,718  
Financials - 19.9%    
Asset Management - 8.4%    
BlackRock, Inc. 10,764   5,923,214  
Charles Schwab Corporation (The) 114,000   8,193,180  
        14,116,394  
Banking - 8.2%    
JPMorgan Chase & Company 27,800   2,905,100  
M&T Bank Corporation 23,890   4,212,285  
Northern Trust Corporation 31,100   2,660,916  
PNC Financial Services Group, Inc. (The) 26,300   3,929,746  
        13,708,047  
 
 

 

CUTLER EQUITY FUND
SCHEDULE OF INVESTMENTS (Continued)
     
COMMON STOCKS - 96.9% (Continued) Shares Value
Financials - 19.9% (Continued)    
Insurance - 3.3%    
Marsh & McLennan Companies, Inc. 36,400   $ 5,434,156  
       
Health Care - 14.5%    
Biotech & Pharma - 9.4%    
Bristol-Myers Squibb Company 85,363   6,068,456  
Johnson & Johnson 29,970   4,895,899  
Merck & Company, Inc. 54,990   4,735,739  
        15,700,094  
Medical Equipment & Devices - 5.1%    
Becton, Dickinson and Company 24,025   5,353,491  
Medtronic plc 39,400   3,181,550  
        8,535,041  
Industrials - 17.7%    
Aerospace & Defense - 1.2%    
Raytheon Technologies Corporation 24,010   1,965,459  
       
Commercial Support Services - 3.8%    
Republic Services, Inc. 46,550   6,332,662  
       
Electrical Equipment - 1.8%    
Carrier Global Corporation 85,210   3,030,068  
       
Machinery - 8.9%    
Caterpillar, Inc. 35,930   5,895,394  
Deere & Company 26,644   8,896,165  
        14,791,559  
Transportation & Logistics - 2.0%    
Union Pacific Corporation 17,500   3,409,350  
       
Materials - 1.7%    
Chemicals - 1.7%    
DuPont de Nemours, Inc. 57,891   2,917,706  
       
Technology - 11.7%    
Semiconductors - 5.1%    
Intel Corporation 127,965   3,297,658  
Texas Instruments, Inc. 33,965   5,257,103  
        8,554,761  
 
 

 

CUTLER EQUITY FUND
SCHEDULE OF INVESTMENTS (Continued)
     
COMMON STOCKS - 96.9% (Continued) Shares Value
Technology - 11.7% (Continued)    
Software - 5.0%    
Microsoft Corporation 35,775   $ 8,331,997  
       
Technology Services - 1.6%    
International Business Machines Corporation 23,000   2,732,630  
       
Total Common Stocks (Cost $91,210,314) $ 161,978,175  
         
         
MONEY MARKET FUNDS - 3.2% Shares Value
Invesco Short-Term Investment Trust Government & Agency Portfolio - Institutional Class, 2.95% (a) (Cost $5,396,188) 5,396,188   $ 5,396,188  
         
Total Investments at Value - 100.1% (Cost $96,606,502) $ 167,374,363  
       
Liabilities in Excess of Other Assets - (0.1%)     (173,643 )
       
Net Assets - 100.0% $ 167,200,720  
 

 

(a) The rate shown is the 7-day effective yield as of September 30, 2022.