Form NPORT-P CUTLER TRUST For: Mar 31

May 26, 2022 6:08 AM EDT

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    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
      2022-06-30
      2022-03-31
      N
    
    
      198514981.85
      904220.95
      197610760.90
      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
        2378670.70000000
        1.203715166707
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Bristol-Myers Squibb Company
        HLYYNH7UQUORYSJQCN42
        Bristol-Myers Squibb Company 
        110122108
        
          
        
        85363.00000000
        NS
        USD
        6234059.89000000
        3.154716808744
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Marsh & McLennan Companies, Inc.
        549300XMP3KDCKJXIU47
        Marsh & McLennan Companies, Inc. 
        571748102
        
          
        
        36400.00000000
        NS
        USD
        6203288.00000000
        3.139144837936
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        The Kroger Co.
        6CPEOKI6OYJ13Q6O7870
        Kroger Company (The) 
        501044101
        
          
        
        106221.00000000
        NS
        USD
        6093898.77000000
        3.083788930443
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Walmart Inc
        Y87794H0US1R65VBXU25
        Walmart, Inc. 
        931142103
        
          
        
        43502.00000000
        NS
        USD
        6478317.84000000
        3.278322400306
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Becton, Dickinson and Company
        ICE2EP6D98PQUILVRZ91
        Becton, Dickinson and Company 
        075887109
        
          
        
        24025.00000000
        NS
        USD
        6390650.00000000
        3.233958500485
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Merck & Co., Inc
        4YV9Y5M8S0BRK1RP0397
        Merck & Company, Inc. 
        58933Y105
        
          
        
        54990.00000000
        NS
        USD
        4511929.50000000
        2.283240790861
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        McDonald's Corporation
        UE2136O97NLB5BYP9H04
        McDonald's Corporation 
        580135101
        
          
        
        29255.00000000
        NS
        USD
        7234176.40000000
        3.660821084364
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        The Charles Schwab Corporation
        549300VSGCJ7E698NM85
        Charles Schwab Corporation (The) 
        808513105
        
          
        
        114000.00000000
        NS
        USD
        9611340.00000000
        4.863773590175
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Johnson & Johnson
        549300G0CFPGEF6X2043
        Johnson & Johnson 
        478160104
        
          
        
        29970.00000000
        NS
        USD
        5311583.10000000
        2.687901749787
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Northern Trust Corporation
        549300GLF98S992BC502
        Northern Trust Corporation 
        665859104
        
          
        
        31100.00000000
        NS
        USD
        3621595.00000000
        1.832691187213
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Prudential Financial, Inc.
        5PRBRS5FEH7NREC8OR45
        Prudential Financial, Inc. 
        744320102
        
          
        
        32000.00000000
        NS
        USD
        3781440.00000000
        1.913580000794
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Texas Instruments Incorporated
        WDJNR2L6D8RWOEB8T652
        Texas Instruments, Inc. 
        882508104
        
          
        
        33965.00000000
        NS
        USD
        6231898.20000000
        3.153622895644
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Medtronic PLC
        549300GX3ZBSQWUXY261
        Medtronic plc 
        G5960L103
        
          
        
        39400.00000000
        NS
        USD
        4371430.00000000
        2.212141676946
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Exxon Mobil Corporation
        J3WHBG0MTS7O8ZVMDC91
        Exxon Mobil Corporation 
        30231G102
        
          
        
        63314.00000000
        NS
        USD
        5229103.26000000
        2.646163213068
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        The Home Depot, Inc.
        QEKMOTMBBKA8I816DO57
        Home Depot, Inc. (The) 
        437076102
        
          
        
        28575.00000000
        NS
        USD
        8553354.75000000
        4.328385109720
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Comcast Corporation
        51M0QTTNCGUN7KFCFZ59
        Comcast Corporation Class A
        20030N101
        
          
        
        62700.00000000
        NS
        USD
        2935614.00000000
        1.485553715106
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Republic Services, Inc.
        NKNQHM6BLECKVOQP7O46
        Republic Services, Inc. 
        760759100
        
          
        
        46550.00000000
        NS
        USD
        6167875.00000000
        3.121224255151
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Deere & Company
        PWFTNG3EI0Y73OXWDH08
        Deere & Company 
        244199105
        
          
        
        26644.00000000
        NS
        USD
        11069516.24000000
        5.601676846738
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        JPMorgan Chase & Co.
        8I5DZWZKVSZI1NUHU748
        JPMorgan Chase & Company 
        46625H100
        
          
        
        27800.00000000
        NS
        USD
        3789696.00000000
        1.917757910925
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Dupont De Nemours Inc
        5493004JF0SDFLM8GD76
        DuPont de Nemours, Inc. 
        26614N102
        
          
        
        57891.00000000
        NS
        USD
        4259619.78000000
        2.155560638803
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        International Business Machines Corporation
        VGRQXHF3J8VDLUA7XE92
        International Business Machines Corporation 
        459200101
        
          
        
        23000.00000000
        NS
        USD
        2990460.00000000
        1.513308276523
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        The Procter & Gamble Company
        2572IBTT8CCZW6AU4141
        Procter & Gamble Company (The) 
        742718109
        
          
        
        34930.00000000
        NS
        USD
        5337304.00000000
        2.700917690763
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco
        549300UJV6OHYATSFU27
        InvesCo STIT Government & Agency Portfolio INSTITUTIONAL CLASS
        825252885
        
          
        
        3150488.27000000
        PA
        USD
        3150488.27000000
        1.594289833029
        Long
        STIV
        RF
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Carrier Global Corporation
        549300JE3W6CWY2NAN77
        Carrier Global Corporation 
        14448C104
        
          
        
        85210.00000000
        NS
        USD
        3908582.70000000
        1.977919968628
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Chevron Corporation
        N/A
        Chevron Corporation 
        166764100
        
          
        
        34870.00000000
        NS
        USD
        5677882.10000000
        2.873265643095
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Caterpillar Inc
        WRJR7GS4GTRECRRTVX92
        Caterpillar, Inc. 
        149123101
        
          
        
        35930.00000000
        NS
        USD
        8005922.60000000
        4.051359634231
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        BlackRock, Inc.
        549300LRIF3NWCU26A80
        BlackRock, Inc. 
        09247X101
        
          
        
        10764.00000000
        NS
        USD
        8225525.88000000
        4.162488845515
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Union Pacific Corporation
        549300LMMRSZZCZ8CL11
        Union Pacific Corporation 
        907818108
        
          
        
        17500.00000000
        NS
        USD
        4781175.00000000
        2.419491215065
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Microsoft Corporation
        INR2EJN1ERAN0W5ZP974
        Microsoft Corporation 
        594918104
        
          
        
        35775.00000000
        NS
        USD
        11029790.25000000
        5.581573695564
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Verizon Communications Inc.
        2S72QS2UO2OESLG6Y829
        Verizon Communications, Inc. 
        92343V104
        
          
        
        66086.00000000
        NS
        USD
        3366420.84000000
        1.703561498709
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        M&T Bank Corporation
        549300WYXDDBYRASEG81
        M&T Bank Corporation 
        55261F104
        
          
        
        23890.00000000
        NS
        USD
        4049355.00000000
        2.049157131705
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Intel Corporation
        KNX4USFCNGPY45LOCE31
        Intel Corporation 
        458140100
        
          
        
        127965.00000000
        NS
        USD
        6341945.40000000
        3.209311765774
        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
        4851035.00000000
        2.454843540861
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Pepsico Inc
        FJSUNZKFNQ5YPJ5OT455
        PepsiCo, Inc. 
        713448108
        
          
        
        33095.00000000
        NS
        USD
        5539441.10000000
        2.803208223464
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
    
    
      2022-04-22
      Cutler Equity Fund 
      Daniel Bauer
      Daniel Bauer
      AVP, Fund Accounting
    
  
  XXXX



 

CUTLER EQUITY FUND
SCHEDULE OF INVESTMENTS
March 31, 2022 (Unaudited)
     
COMMON STOCKS - 98.5% Shares Value
Communications - 3.2%    
Cable & Satellite - 1.5%    
Comcast Corporation - Class A 62,700   $ 2,935,614  
       
Telecommunications - 1.7%    
Verizon Communications, Inc. 66,086   3,366,421  
       
Consumer Discretionary - 8.0%    
Leisure Facilities & Services - 3.7%    
McDonald's Corporation 29,255   7,234,176  
       
Retail - Discretionary - 4.3%    
Home Depot, Inc. (The) 28,575   8,553,355  
       
Consumer Staples - 11.9%    
Beverages - 2.8%    
PepsiCo, Inc. 33,095   5,539,441  
       
Household Products - 2.7%    
Procter & Gamble Company (The) 34,930   5,337,304  
       
Retail - Consumer Staples - 6.4%    
Kroger Company (The) 106,221   6,093,899  
Walmart, Inc. 43,502   6,478,318  
        12,572,217  
Energy - 5.5%    
Oil & Gas Producers - 5.5%    
Chevron Corporation 34,870   5,677,882  
Exxon Mobil Corporation 63,314   5,229,103  
        10,906,985  
Financials - 22.3%    
Asset Management - 9.0%    
BlackRock, Inc. 10,764   8,225,526  
Charles Schwab Corporation (The) 114,000   9,611,340  
        17,836,866  
Banking - 8.3%    
JPMorgan Chase & Company 27,800   3,789,696  
M&T Bank Corporation 23,890   4,049,355  
Northern Trust Corporation 31,100   3,621,595  
PNC Financial Services Group, Inc. (The) 26,300   4,851,035  
        16,311,681  
 
 

 

CUTLER EQUITY FUND
SCHEDULE OF INVESTMENTS (Continued)
     
COMMON STOCKS - 98.5% (Continued) Shares Value
Financials - 22.3% (Continued)    
Insurance - 5.0%    
Marsh & McLennan Companies, Inc. 36,400   $ 6,203,288  
Prudential Financial, Inc. 32,000   3,781,440  
        9,984,728  
Health Care - 13.6%    
Biotech & Pharma - 8.1%    
Bristol-Myers Squibb Company 85,363   6,234,060  
Johnson & Johnson 29,970   5,311,583  
Merck & Company, Inc. 54,990   4,511,930  
        16,057,573  
Medical Equipment & Devices - 5.5%    
Becton, Dickinson and Company 24,025   6,390,650  
Medtronic plc 39,400   4,371,430  
        10,762,080  
Industrials - 18.4%    
Aerospace & Defense - 1.2%    
Raytheon Technologies Corporation 24,010   2,378,671  
       
Commercial Support Services - 3.1%    
Republic Services, Inc. 46,550   6,167,875  
       
Electrical Equipment - 2.0%    
Carrier Global Corporation 85,210   3,908,582  
       
Machinery - 9.7%    
Caterpillar, Inc. 35,930   8,005,923  
Deere & Company 26,644   11,069,516  
        19,075,439  
Transportation & Logistics - 2.4%    
Union Pacific Corporation 17,500   4,781,175  
       
Materials - 2.1%    
Chemicals - 2.1%    
DuPont de Nemours, Inc. 57,891   4,259,620  
       
Technology - 13.5%    
Semiconductors - 6.4%    
Intel Corporation 127,965   6,341,946  
Texas Instruments, Inc. 33,965   6,231,898  
        12,573,844  
 
 

 

CUTLER EQUITY FUND
SCHEDULE OF INVESTMENTS (Continued)
     
COMMON STOCKS - 98.5% (Continued) Shares Value
Technology - 13.5% (Continued)    
Software - 5.6%    
Microsoft Corporation 35,775   $ 11,029,790  
       
Technology Services - 1.5%    
International Business Machines Corporation 23,000   2,990,460  
       
Total Common Stocks (Cost $91,908,453) $ 194,563,897  
       
         
MONEY MARKET FUNDS - 1.6% Shares Value
Invesco Short-Term Investment Trust Government & Agency Portfolio - Institutional Class, 0.25% (a) (Cost $3,150,488) 3,150,488   $ 3,150,488  
         
Total Investments at Value - 100.1% (Cost $95,058,941) $ 197,714,385  
       
Liabilities in Excess of Other Assets - (0.1%)     (103,624 )
       
Net Assets - 100.0% $ 197,610,761  
 

 

 

(a) The rate shown is the 7-day effective yield as of March 31, 2022.

 

 

 

 

 

 



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