Raytheon Technologies Corporation

0001752724-23-095922.txt : 20230511 0001752724-23-095922.hdr.sgml : 20230511 20230511101920 ACCESSION NUMBER: 0001752724-23-095922 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230331 FILED AS OF DATE: 20230511 DATE AS OF CHANGE: 20230511 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: 23909407 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

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Class B 654106103 49750.00000000 NS USD 6101340.00000000 3.397897745346 Long EC CORP US N 1 N N N Becton, Dickinson and Company ICE2EP6D98PQUILVRZ91 Becton, Dickinson and Company 075887109 24025.00000000 NS USD 5947148.50000000 3.312026944800 Long EC CORP US N 1 N N N Merck & Co., Inc 4YV9Y5M8S0BRK1RP0397 Merck & Company, Inc. 58933Y105 54990.00000000 NS USD 5850386.10000000 3.258138988909 Long EC CORP US N 1 N N N McDonald's Corporation UE2136O97NLB5BYP9H04 McDonald's Corporation 580135101 29255.00000000 NS USD 8179990.55000000 4.555519188702 Long EC CORP US N 1 N N N The Charles Schwab Corporation 549300VSGCJ7E698NM85 Charles Schwab Corporation (The) 808513105 112000.00000000 NS USD 5866560.00000000 3.267146396846 Long EC CORP US N 1 N N N Johnson & Johnson 549300G0CFPGEF6X2043 Johnson & Johnson 478160104 29970.00000000 NS USD 4645350.00000000 2.587042238482 Long EC CORP US N 1 N N N Northern Trust Corporation 549300GLF98S992BC502 Northern Trust Corporation 665859104 31100.00000000 NS USD 2740843.00000000 1.526403093426 Long EC CORP US N 1 N N N Texas Instruments Incorporated WDJNR2L6D8RWOEB8T652 Texas Instruments, Inc. 882508104 33965.00000000 NS USD 6317829.65000000 3.518463013570 Long EC CORP US N 1 N N N Medtronic PLC 549300GX3ZBSQWUXY261 Medtronic plc G5960L103 39400.00000000 NS USD 3176428.00000000 1.768984770469 Long EC CORP US N 1 N N N Exxon Mobil Corporation J3WHBG0MTS7O8ZVMDC91 Exxon Mobil Corporation 30231G102 63314.00000000 NS USD 6943013.24000000 3.866634056470 Long EC CORP US N 1 N N N Home Depot Inc QEKMOTMBBKA8I816DO57 Home Depot, Inc. (The) 437076102 27575.00000000 NS USD 8137934.00000000 4.532097472092 Long EC CORP US N 1 N N N Comcast Corporation 51M0QTTNCGUN7KFCFZ59 Comcast Corporation Class A 20030N101 62700.00000000 NS USD 2376957.00000000 1.323751312184 Long EC CORP US N 1 N N N Republic Services, Inc. NKNQHM6BLECKVOQP7O46 Republic Services, Inc. 760759100 46550.00000000 NS USD 6294491.00000000 3.505465484139 Long EC CORP US N 1 N N N Deere & Company PWFTNG3EI0Y73OXWDH08 Deere & Company 244199105 24394.00000000 NS USD 10071794.72000000 5.609083999691 Long EC CORP US N 1 N N N JPMorgan Chase & Co. 8I5DZWZKVSZI1NUHU748 JPMorgan Chase & Company 46625H100 26800.00000000 NS USD 3492308.00000000 1.944901526427 Long EC CORP US N 1 N N N Dupont De Nemours Inc 5493004JF0SDFLM8GD76 DuPont de Nemours, Inc. 26614N102 57891.00000000 NS USD 4154837.07000000 2.313870643569 Long EC CORP US N 1 N N N International Business Machines Corporation VGRQXHF3J8VDLUA7XE92 International Business Machines Corporation 459200101 23000.00000000 NS USD 3015070.00000000 1.679122873837 Long EC CORP US N 1 N N N The Procter & Gamble Company 2572IBTT8CCZW6AU4141 Procter & Gamble Company (The) 742718109 33430.00000000 NS USD 4970706.70000000 2.768236664192 Long EC CORP US N 1 N N N Invesco 549300UJV6OHYATSFU27 InvesCo STIT Government & Agency Portfolio INSTITUTIONAL CLASS 825252885 466653.41000000 PA USD 466653.41000000 0.259883987730 Long STIV RF US N 1 N N N Carrier Global Corporation 549300JE3W6CWY2NAN77 Carrier Global Corporation 14448C104 85210.00000000 NS USD 3898357.50000000 2.171034585812 Long EC CORP US N 1 N N N Chevron Corporation N/A Chevron Corporation 166764100 34870.00000000 NS USD 5689389.20000000 3.168478192507 Long EC CORP US N 1 N N N Caterpillar Inc WRJR7GS4GTRECRRTVX92 Caterpillar, Inc. 149123101 34930.00000000 NS USD 7993381.20000000 4.451594560731 Long EC CORP US N 1 N N N BlackRock, Inc. 549300LRIF3NWCU26A80 BlackRock, Inc. 09247X101 10764.00000000 NS USD 7202407.68000000 4.011093434710 Long EC CORP US N 1 N N N Union Pacific Corporation 549300LMMRSZZCZ8CL11 Union Pacific Corporation 907818108 17500.00000000 NS USD 3522050.00000000 1.961465146016 Long EC CORP US N 1 N N N Microsoft Corporation INR2EJN1ERAN0W5ZP974 Microsoft Corporation 594918104 34775.00000000 NS USD 10025632.50000000 5.583375794074 Long EC CORP US N 1 N N N Verizon Communications Inc. 2S72QS2UO2OESLG6Y829 Verizon Communications, Inc. 92343V104 139686.00000000 NS USD 5432388.54000000 3.025351934478 Long EC CORP US N 1 N N N M&T Bank Corporation 549300WYXDDBYRASEG81 M&T Bank Corporation 55261F104 23890.00000000 NS USD 2856527.30000000 1.590828846153 Long EC CORP US N 1 N N N Intel Corporation KNX4USFCNGPY45LOCE31 Intel Corporation 458140100 122965.00000000 NS USD 4017266.55000000 2.237256234318 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 3342730.00000000 1.861600030534 Long EC CORP US N 1 N N N Pepsico Inc FJSUNZKFNQ5YPJ5OT455 PepsiCo, Inc. 713448108 33095.00000000 NS USD 6033218.50000000 3.359960195355 Long EC CORP US N 1 N N N 2023-04-13 Cutler Equity Fund Daniel Bauer Daniel Bauer VP, Fund Accounting XXXX NPORT-EX 2 cutlerport_nport.htm CUTLER SOI 03-31-23

CUTLER EQUITY FUND
SCHEDULE OF INVESTMENTS
March 31, 2023 (Unaudited)

COMMON STOCKS - 99.8%	Shares	Value
Communications - 4.4%
Cable & Satellite - 1.3%
Comcast Corporation - Class A	62,700	$ 2,376,957

Telecommunications - 3.1%
Verizon Communications, Inc.	139,686	5,432,389

Consumer Discretionary - 12.5%
Apparel & Textile Products - 3.4%
NIKE, Inc. - Class B	49,750	6,101,340

Leisure Facilities & Services - 4.6%
McDonald's Corporation	29,255	8,179,991

Retail - Discretionary - 4.5%
Home Depot, Inc. (The)	27,575	8,137,934

Consumer Staples - 12.5%
Beverages - 3.3%
PepsiCo, Inc.	33,095	6,033,218

Household Products - 2.8%
Procter & Gamble Company (The)	33,430	4,970,707

Retail - Consumer Staples - 6.4%
Kroger Company (The)	106,221	5,244,131
Walmart, Inc.	42,502	6,266,920
		11,511,051
Energy - 7.0%
Oil & Gas Producers - 7.0%
Chevron Corporation	34,870	5,689,389
Exxon Mobil Corporation	63,314	6,943,013
		12,632,402
Financials - 14.2%
Asset Management - 7.3%
BlackRock, Inc.	10,764	7,202,408
Charles Schwab Corporation (The)	112,000	5,866,560
		13,068,968
Banking - 6.9%
JPMorgan Chase & Company	26,800	3,492,308
M&T Bank Corporation	23,890	2,856,527

CUTLER EQUITY FUND
SCHEDULE OF INVESTMENTS (Continued)

COMMON STOCKS - 99.8% (Continued)	Shares	Value
Financials - 14.2% (Continued)
Banking - 6.9% (Continued)
Northern Trust Corporation	31,100	$ 2,740,843
PNC Financial Services Group, Inc. (The)	26,300	3,342,730
		12,432,408
Health Care - 14.2%
Biotech & Pharma - 9.1%
Bristol-Myers Squibb Company	85,363	5,916,510
Johnson & Johnson	29,970	4,645,350
Merck & Company, Inc.	54,990	5,850,386
		16,412,246
Medical Equipment & Devices - 5.1%
Becton, Dickinson and Company	24,025	5,947,148
Medtronic plc	39,400	3,176,428
		9,123,576
Industrials - 19.7%
Aerospace & Defense - 2.0%
Raytheon Technologies Corporation	36,260	3,550,942

Commercial Support Services - 3.5%
Republic Services, Inc.	46,550	6,294,491

Electrical Equipment - 2.2%
Carrier Global Corporation	85,210	3,898,357

Machinery - 10.0%
Caterpillar, Inc.	34,930	7,993,381
Deere & Company	24,394	10,071,795
		18,065,176
Transportation & Logistics - 2.0%
Union Pacific Corporation	17,500	3,522,050

Materials - 2.3%
Chemicals - 2.3%
DuPont de Nemours, Inc.	57,891	4,154,837

Technology - 13.0%
Semiconductors - 5.7%
Intel Corporation	122,965	4,017,266
Texas Instruments, Inc.	33,965	6,317,830
		10,335,096

CUTLER EQUITY FUND
SCHEDULE OF INVESTMENTS (Continued)

COMMON STOCKS - 99.8% (Continued)	Shares	Value
Technology - 13.0% (Continued)
Software - 5.6%
Microsoft Corporation	34,775	$ 10,025,633

Technology Services - 1.7%
International Business Machines Corporation	23,000	3,015,070

Total Common Stocks (Cost $93,338,292)		$ 179,274,839


MONEY MARKET FUNDS - 0.3%	Shares	Value
Invesco Short-Term Investment Trust Government & Agency Portfolio - Institutional Class, 4.73% ^(a) (Cost $466,653)	466,653	$ 466,653

Total Investments at Value - 100.1% (Cost $93,804,945)		$ 179,741,492

Liabilities in Excess of Other Assets - (0.1%)		(179,290 )

Net Assets - 100.0%		$ 179,562,202

^(a)	The rate shown is the 7-day effective yield as of March 31, 2023.