Cutler Capital Management, LLC
Cutler Capital Management, LLC is an investment adviser based in Worcester, Massachusetts. Founded in 1997, the firm specializes in managing assets for institutions and high-net-worth individuals, focusing on convertible securities and other select investment strategies. The firm operates with a relatively small team and provides specialized asset management services primarily within the United States.
Investment Strategy
Cutler Capital Management, LLC pursues an investment approach centered on convertible securities, utilizing these instruments for both income and capital appreciation. The firm combines fundamental research with active portfolio management to seek opportunities in undervalued convertible bonds and preferred stocks. Their strategy typically emphasizes downside protection, income generation, and opportunistic equity participation while maintaining a disciplined risk management framework.
Latest 13F Filing Activity
Cutler Capital Management, LLC filed their most recent 13F report on Jun 30, 2025 disclosing 84 equity positions with a total 13F market value of $287M. The fund increased holdings in Cto Realty GRW, Hci Group Inc., Eversource among other positions. Cutler Capital Management, LLC reduced exposure to Mainstreet Banc, Eagle Bancorp, Global Medical among others.
Top Holdings
Equity Positions (84)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
A AEM | AGNICO-EAGLE | 5.45% | $15.7M | 131,727 | $58.36 | $118.93 | +$1.0M |
M MET | METLIFE INC | 4.62% | $13.3M | 164,983 | $44.51 | $80.42 | -$74.8K |
C CTO | CTO REALTY GRW | 3.86% | $11.1M | 642,054 | $17.39 | $17.26 | +$7.4M |
T TSBK | TIMBERLAND BANC | 3.24% | $9.3M | 298,395 | $19.44 | $31.20 | +$301.1K |
F FBIZ | FIRST BUSINESS | 2.75% | $7.9M | 155,799 | $25.31 | $50.66 | +$565.7K |
Industry Allocation
Investment Team (7)
| Name | Role | Location | |
|---|---|---|---|
 | Director of Research and Portfolio Manager | MA , United States | |
 | Managing Director | RI , United States | |
M Mitko Botev | Portfolio Manager | Worcester, MA , United States | |
J James H. | Senior Fixed Income Research Analyst | Los Angeles, CA , United States | |
 | Assistant Securities Analyst | Hudson, NY , United States | |
P Pooja Keshan | analyst | Santa Clara, CA , United States | |
 | Assistant Securities Analyst | Boston, MA , United States |