Cutler Investment Counsel

Jacksonville, ORfiles as CUTLER INVESTMENT COUNSEL LLC

$1.1bn in 157 US stocks at the end of 30 June 2026. The top 10 are 36.5% of the money. It changed about 6.5% of the portfolio this quarter.

Value

$1.1bn

Stocks

157

Top 10 share

36.5%

Turnover

6.5%

What changed this quarter

New

Bought for the first time this quarter.

DuPont de NemoursDD
0.4% of the fund
Dimensional ETF TrustDFAX
0.1% of the fund
Dimensional ETF TrustDFAI
<0.1% of the fund
Dimensional ETF TrustDUHP
<0.1% of the fund
Advanced Micro DevicesAMD
<0.1% of the fund
CorningGLW
<0.1% of the fund
Ishares TRIJT
<0.1% of the fund
Dimensional ETF TrustDFUS
<0.1% of the fund
Ishares TREAGG
<0.1% of the fund
Philip Morris InternationalPM
<0.1% of the fund
Dimensional ETF TrustDFSI
<0.1% of the fund
Ishares TRIWM
<0.1% of the fund
Proshares TRTQQQ
<0.1% of the fund
Eli LillyLLY
<0.1% of the fund

Added

Bought more of a stock they already held.

Ishares TRIGSB
4.4% of the fund
+3%
J P Morgan Exchange Traded FJIRE
3.7% of the fund
+3%
Spdr Series TrustSPAB
2.8% of the fund
+4%
Ishares TRGOVT
2.5% of the fund
+3%
NextEra EnergyNEE
1.5% of the fund
+38%
Spdr Series TrustSPYM
1.3% of the fund
+8%
Ishares TRIVV
1.0% of the fund
+3%
Vanguard Intl Equity Index FVSS
0.9% of the fund
+3%
Ishares TRREET
0.9% of the fund
+4%
Cisco SystemsCSCO
0.8% of the fund
+1060%
Vaneck ETF TrustEMLC
0.8% of the fund
+2%
Schwab Strategic TRSCHA
0.7% of the fund
+9%
Vanguard BD Index FDSBIV
0.7% of the fund
+13%
Vanguard Tax-Managed FDSVEA
0.7% of the fund
+12%
Vanguard Index FDSVTV
0.7% of the fund
+4%
Schwab Strategic TRSCHD
0.5% of the fund
+4%
Vanguard Intl Equity Index FVWO
0.5% of the fund
+11%
Vanguard BD Index FDSBND
0.4% of the fund
+17%
Berkshire Hathaway INC DELBRK-A
0.4% of the fund
+150%
Schwab Strategic TRFNDX
0.3% of the fund
+48%
Vanguard Intl Equity Index FVT
0.3% of the fund
+9%
Schwab Strategic TRFNDC
0.3% of the fund
+12%
Vanguard Index FDSVNQ
0.3% of the fund
+15%
Schwab Strategic TRFNDA
0.3% of the fund
+9%
Schwab Strategic TRFNDF
0.3% of the fund
+11%

Cut

Sold some of their stake.

CaterpillarCAT
3.1% of the fund
-18%
Proshares TRNOBL
0.3% of the fund
-4%
AlphabetGOOG
0.2% of the fund
-7%
NvidiaNVDA
0.2% of the fund
-3%
State STR Spdr S&P 500 ETF TSPY
0.1% of the fund
-20%
Vanguard World FDVGT
0.1% of the fund
-2%
Wells Fargo & CompanyWFC
<0.1% of the fund
-2%
BroadcomAVGO
<0.1% of the fund
-4%
Ishares TRSCZ
<0.1% of the fund
-3%
CencoraCOR
<0.1% of the fund
-8%
AbbVieABBV
<0.1% of the fund
-7%
Vanguard World FDVSGX
<0.1% of the fund
-4%
Dimensional ETF TrustDFAC
<0.1% of the fund
-3%
Schwab Strategic TRSCHF
<0.1% of the fund
-4%
IsharesESGE
<0.1% of the fund
-9%
Pimco ETF TRMINT
<0.1% of the fund
-15%
Royal Bank of CanadaRY
<0.1% of the fund
-3%
NetflixNFLX
<0.1% of the fund
-2%
Ishares TRIWF
<0.1% of the fund
-20%
NikeNKE
<0.1% of the fund
-96%

Sold out

Sold their entire stake.

Holdings

Vanguard Index FDSVO
Share
5.0%
Value
$53m
Shares
654,530
Held
Ishares TRIEFA
Share
4.5%
Value
$48m
Shares
497,532
Held
Ishares TRIGSB
Share
4.4%
Value
$46m
Shares
881,726
+3%
Spdr Index SHS FDSSPEM
Share
3.9%
Value
$42m
Shares
808,417
Held
J P Morgan Exchange Traded FJIRE
Share
3.7%
Value
$40m
Shares
480,390
+3%
Ishares TRIUSG
Share
3.4%
Value
$36m
Shares
189,385
Held
CaterpillarCAT
Share
3.1%
Value
$33m
Shares
30,925
-18%
Ishares TRIJR
Share
2.9%
Value
$31m
Shares
208,300
Held
Vanguard Index FDSVUG
Share
2.9%
Value
$31m
Shares
355,675
Held
Spdr Series TrustSPAB
Share
2.8%
Value
$30m
Shares
1,160,764
+4%
Ishares TRGOVT
Share
2.5%
Value
$26m
Shares
1,149,762
+3%
MicrosoftMSFT
Share
2.4%
Value
$25m
Shares
67,261
Held
WalmartWMT
Share
2.3%
Value
$25m
Shares
217,092
Held
RTXRTX
Share
2.1%
Value
$22m
Shares
115,223
Held
DeereDE
Share
1.9%
Value
$21m
Shares
32,312
Held
Charles SchwabSCHW
Share
1.6%
Value
$17m
Shares
186,829
Held
BlackRockBLK
Share
1.6%
Value
$17m
Shares
17,531
Held
Texas InstrumentsTXN
Share
1.6%
Value
$17m
Shares
56,533
Held
Republic ServicesRSG
Share
1.6%
Value
$17m
Shares
77,512
Held
ExxonMobil HoldingsXOM
Share
1.5%
Value
$16m
Shares
119,449
Held
NextEra EnergyNEE
Share
1.5%
Value
$16m
Shares
185,395
+38%
Home DepotHD
Share
1.5%
Value
$16m
Shares
46,023
Held
CVS HealthCVS
Share
1.5%
Value
$16m
Shares
149,901
Held
JPMorgan ChaseJPM
Share
1.4%
Value
$15m
Shares
45,620
Held
Spdr Series TrustSPYM
Share
1.3%
Value
$14m
Shares
157,363
+8%
McDonald'sMCD
Share
1.3%
Value
$14m
Shares
50,409
Held
Invesco Exchange Traded FD TRPG
Share
1.2%
Value
$13m
Shares
204,690
Held
Johnson & JohnsonJNJ
Share
1.2%
Value
$13m
Shares
50,046
Held
International Business MachinesIBM
Share
1.1%
Value
$12m
Shares
42,402
Held
MerckMRK
Share
1.1%
Value
$11m
Shares
87,765
Held
ChevronCVX
Share
1.0%
Value
$11m
Shares
66,008
Held
PNC Financial Services GroupPNC
Share
1.0%
Value
$11m
Shares
44,011
Held
Ishares TRIVV
Share
1.0%
Value
$11m
Shares
14,234
+3%
Carrier GlobalCARR
Share
1.0%
Value
$11m
Shares
145,301
Held
Verizon CommunicationsVZ
Share
0.9%
Value
$10m
Shares
233,690
Held
Vanguard Intl Equity Index FVSS
Share
0.9%
Value
$10m
Shares
63,978
+3%
KrogerKR
Share
0.9%
Value
$10m
Shares
174,825
Held
Ishares TRREET
Share
0.9%
Value
$10m
Shares
344,085
+4%
M&T BankMTB
Share
0.9%
Value
$9m
Shares
38,742
Held
MedtronicMDT
Share
0.9%
Value
$9m
Shares
114,555
Held
Cisco SystemsCSCO
Share
0.8%
Value
$9m
Shares
76,816
+1060%
Vaneck ETF TrustEMLC
Share
0.8%
Value
$9m
Shares
341,363
+2%
Procter & GamblePG
Share
0.8%
Value
$9m
Shares
59,169
Held
Schwab Strategic TRSCHA
Share
0.7%
Value
$8m
Shares
218,995
+9%
Vanguard BD Index FDSBIV
Share
0.7%
Value
$8m
Shares
102,792
+13%
Qnity ElectronicsQ
Share
0.7%
Value
$8m
Shares
47,876
Held
PepsiCoPEP
Share
0.7%
Value
$8m
Shares
56,765
Held
Vanguard Tax-Managed FDSVEA
Share
0.7%
Value
$8m
Shares
107,554
+12%
Vanguard Index FDSVTV
Share
0.7%
Value
$8m
Shares
34,757
+4%
Ishares TREFAV
Share
0.7%
Value
$7m
Shares
80,264
Held
AppleAAPL
Share
0.7%
Value
$7m
Shares
24,075
Held
Vanguard Index FDSVTI
Share
0.7%
Value
$7m
Shares
18,791
Held
Phillips 66PSX
Share
0.6%
Value
$7m
Shares
39,282
Held
Becton DickinsonBDX
Share
0.6%
Value
$6m
Shares
40,561
Held
Schwab Strategic TRSCHD
Share
0.5%
Value
$5m
Shares
163,262
+4%
Vanguard Intl Equity Index FVWO
Share
0.5%
Value
$5m
Shares
81,337
+11%
Invesco Exch Traded FD TR IIPDN
Share
0.4%
Value
$4m
Shares
96,912
Held
Vanguard BD Index FDSBND
Share
0.4%
Value
$4m
Shares
57,713
+17%
DuPont de NemoursDD
Share
0.4%
Value
$4m
Shares
30,630
New
PfizerPFE
Share
0.4%
Value
$4m
Shares
163,108
Held
LennarLEN
Share
0.4%
Value
$4m
Shares
41,401
Held
Berkshire Hathaway INC DELBRK-A
Share
0.4%
Value
$4m
Shares
5
+150%
Schwab Strategic TRFNDX
Share
0.3%
Value
$3m
Shares
112,177
+48%
Proshares TRNOBL
Share
0.3%
Value
$3m
Shares
61,435
-4%
Amazon.comAMZN
Share
0.3%
Value
$3m
Shares
14,464
Held
Vanguard Intl Equity Index FVT
Share
0.3%
Value
$3m
Shares
21,859
+9%
Schwab Strategic TRFNDC
Share
0.3%
Value
$3m
Shares
66,204
+12%
Vanguard Index FDSVNQ
Share
0.3%
Value
$3m
Shares
33,322
+15%
Schwab Strategic TRFNDA
Share
0.3%
Value
$3m
Shares
81,394
+9%
S&P GlobalSPGI
Share
0.3%
Value
$3m
Shares
7,590
Held
Schwab Strategic TRFNDF
Share
0.3%
Value
$3m
Shares
58,028
+11%
Berkshire HathawayBRK-B
Share
0.3%
Value
$3m
Shares
6,021
+6%
Costco WholesaleCOST
Share
0.3%
Value
$3m
Shares
2,936
Held
AlphabetGOOG
Share
0.2%
Value
$3m
Shares
7,457
-7%
Mission ProduceAVO
Share
0.2%
Value
$2m
Shares
211,750
Held
Schwab Strategic TRSCHX
Share
0.2%
Value
$2m
Shares
72,039
Held
Vanguard Specialized FundsVIG
Share
0.2%
Value
$2m
Shares
8,402
Held
Vanguard Charlotte FDSBNDX
Share
0.2%
Value
$2m
Shares
40,724
Held
Vanguard Scottsdale FDSVCSH
Share
0.2%
Value
$2m
Shares
22,400
Held
NvidiaNVDA
Share
0.2%
Value
$2m
Shares
8,158
-3%
StarbucksSBUX
Share
0.2%
Value
$2m
Shares
15,952
+95%
Schwab Strategic TRFNDE
Share
0.1%
Value
$2m
Shares
38,696
Held
AlphabetGOOGL
Share
0.1%
Value
$1m
Shares
3,940
Held
Dimensional ETF TrustDFAX
Share
0.1%
Value
$1m
Shares
37,754
New
State STR Spdr S&P 500 ETF TSPY
Share
0.1%
Value
$1m
Shares
1,839
-20%
Invesco QQQ TRQQQ
Share
0.1%
Value
$1m
Shares
1,851
Held
Vanguard World FDVGT
Share
0.1%
Value
$1m
Shares
11,047
-2%
TeslaTSLA
Share
0.1%
Value
$1m
Shares
3,051
Held
Vanguard MUN BD FDSVTEB
Share
0.1%
Value
$1m
Shares
21,144
Held
ImmunityBioIBRX
Share
<0.1%
Value
$977,916
Shares
111,698
+12%
Schwab Strategic TRSCHZ
Share
<0.1%
Value
$899,749
Shares
38,900
Held
Spdr Gold TRGLD
Share
<0.1%
Value
$732,340
Shares
1,988
+5%
Vanguard Whitehall FDSVYM
Share
<0.1%
Value
$705,465
Shares
4,464
+3%
Wells Fargo & CompanyWFC
Share
<0.1%
Value
$681,037
Shares
8,241
-2%
Lowe's CompaniesLOW
Share
<0.1%
Value
$667,534
Shares
3,028
Held
Ishares TRIJH
Share
<0.1%
Value
$652,197
Shares
8,458
+10%
BroadcomAVGO
Share
<0.1%
Value
$650,864
Shares
1,723
-4%
CumminsCMI
Share
<0.1%
Value
$649,635
Shares
911
Held
Ishares TRSCZ
Share
<0.1%
Value
$643,270
Shares
7,819
-3%
CencoraCOR
Share
<0.1%
Value
$638,403
Shares
2,256
-8%

Company	Share of fund	Value	Shares	Change
Vanguard Index FDSVO	5.0%	$53m	654,530	Held
Ishares TRIEFA	4.5%	$48m	497,532	Held
Ishares TRIGSB	4.4%	$46m	881,726	+3%
Spdr Index SHS FDSSPEM	3.9%	$42m	808,417	Held
J P Morgan Exchange Traded FJIRE	3.7%	$40m	480,390	+3%
Ishares TRIUSG	3.4%	$36m	189,385	Held
CaterpillarCAT	3.1%	$33m	30,925	-18%
Ishares TRIJR	2.9%	$31m	208,300	Held
Vanguard Index FDSVUG	2.9%	$31m	355,675	Held
Spdr Series TrustSPAB	2.8%	$30m	1,160,764	+4%
Ishares TRGOVT	2.5%	$26m	1,149,762	+3%
MicrosoftMSFT	2.4%	$25m	67,261	Held
WalmartWMT	2.3%	$25m	217,092	Held
RTXRTX	2.1%	$22m	115,223	Held
DeereDE	1.9%	$21m	32,312	Held
Charles SchwabSCHW	1.6%	$17m	186,829	Held
BlackRockBLK	1.6%	$17m	17,531	Held
Texas InstrumentsTXN	1.6%	$17m	56,533	Held
Republic ServicesRSG	1.6%	$17m	77,512	Held
ExxonMobil HoldingsXOM	1.5%	$16m	119,449	Held
NextEra EnergyNEE	1.5%	$16m	185,395	+38%
Home DepotHD	1.5%	$16m	46,023	Held
CVS HealthCVS	1.5%	$16m	149,901	Held
JPMorgan ChaseJPM	1.4%	$15m	45,620	Held
Spdr Series TrustSPYM	1.3%	$14m	157,363	+8%
McDonald'sMCD	1.3%	$14m	50,409	Held
Invesco Exchange Traded FD TRPG	1.2%	$13m	204,690	Held
Johnson & JohnsonJNJ	1.2%	$13m	50,046	Held
International Business MachinesIBM	1.1%	$12m	42,402	Held
MerckMRK	1.1%	$11m	87,765	Held
ChevronCVX	1.0%	$11m	66,008	Held
PNC Financial Services GroupPNC	1.0%	$11m	44,011	Held
Ishares TRIVV	1.0%	$11m	14,234	+3%
Carrier GlobalCARR	1.0%	$11m	145,301	Held
Verizon CommunicationsVZ	0.9%	$10m	233,690	Held
Vanguard Intl Equity Index FVSS	0.9%	$10m	63,978	+3%
KrogerKR	0.9%	$10m	174,825	Held
Ishares TRREET	0.9%	$10m	344,085	+4%
M&T BankMTB	0.9%	$9m	38,742	Held
MedtronicMDT	0.9%	$9m	114,555	Held
Cisco SystemsCSCO	0.8%	$9m	76,816	+1060%
Vaneck ETF TrustEMLC	0.8%	$9m	341,363	+2%
Procter & GamblePG	0.8%	$9m	59,169	Held
Schwab Strategic TRSCHA	0.7%	$8m	218,995	+9%
Vanguard BD Index FDSBIV	0.7%	$8m	102,792	+13%
Qnity ElectronicsQ	0.7%	$8m	47,876	Held
PepsiCoPEP	0.7%	$8m	56,765	Held
Vanguard Tax-Managed FDSVEA	0.7%	$8m	107,554	+12%
Vanguard Index FDSVTV	0.7%	$8m	34,757	+4%
Ishares TREFAV	0.7%	$7m	80,264	Held
AppleAAPL	0.7%	$7m	24,075	Held
Vanguard Index FDSVTI	0.7%	$7m	18,791	Held
Phillips 66PSX	0.6%	$7m	39,282	Held
Becton DickinsonBDX	0.6%	$6m	40,561	Held
Schwab Strategic TRSCHD	0.5%	$5m	163,262	+4%
Vanguard Intl Equity Index FVWO	0.5%	$5m	81,337	+11%
Invesco Exch Traded FD TR IIPDN	0.4%	$4m	96,912	Held
Vanguard BD Index FDSBND	0.4%	$4m	57,713	+17%
DuPont de NemoursDD	0.4%	$4m	30,630	New
PfizerPFE	0.4%	$4m	163,108	Held
LennarLEN	0.4%	$4m	41,401	Held
Berkshire Hathaway INC DELBRK-A	0.4%	$4m	5	+150%
Schwab Strategic TRFNDX	0.3%	$3m	112,177	+48%
Proshares TRNOBL	0.3%	$3m	61,435	-4%
Amazon.comAMZN	0.3%	$3m	14,464	Held
Vanguard Intl Equity Index FVT	0.3%	$3m	21,859	+9%
Schwab Strategic TRFNDC	0.3%	$3m	66,204	+12%
Vanguard Index FDSVNQ	0.3%	$3m	33,322	+15%
Schwab Strategic TRFNDA	0.3%	$3m	81,394	+9%
S&P GlobalSPGI	0.3%	$3m	7,590	Held
Schwab Strategic TRFNDF	0.3%	$3m	58,028	+11%
Berkshire HathawayBRK-B	0.3%	$3m	6,021	+6%
Costco WholesaleCOST	0.3%	$3m	2,936	Held
AlphabetGOOG	0.2%	$3m	7,457	-7%
Mission ProduceAVO	0.2%	$2m	211,750	Held
Schwab Strategic TRSCHX	0.2%	$2m	72,039	Held
Vanguard Specialized FundsVIG	0.2%	$2m	8,402	Held
Vanguard Charlotte FDSBNDX	0.2%	$2m	40,724	Held
Vanguard Scottsdale FDSVCSH	0.2%	$2m	22,400	Held
NvidiaNVDA	0.2%	$2m	8,158	-3%
StarbucksSBUX	0.2%	$2m	15,952	+95%
Schwab Strategic TRFNDE	0.1%	$2m	38,696	Held
AlphabetGOOGL	0.1%	$1m	3,940	Held
Dimensional ETF TrustDFAX	0.1%	$1m	37,754	New
State STR Spdr S&P 500 ETF TSPY	0.1%	$1m	1,839	-20%
Invesco QQQ TRQQQ	0.1%	$1m	1,851	Held
Vanguard World FDVGT	0.1%	$1m	11,047	-2%
TeslaTSLA	0.1%	$1m	3,051	Held
Vanguard MUN BD FDSVTEB	0.1%	$1m	21,144	Held
ImmunityBioIBRX	<0.1%	$977,916	111,698	+12%
Schwab Strategic TRSCHZ	<0.1%	$899,749	38,900	Held
Spdr Gold TRGLD	<0.1%	$732,340	1,988	+5%
Vanguard Whitehall FDSVYM	<0.1%	$705,465	4,464	+3%
Wells Fargo & CompanyWFC	<0.1%	$681,037	8,241	-2%
Lowe's CompaniesLOW	<0.1%	$667,534	3,028	Held
Ishares TRIJH	<0.1%	$652,197	8,458	+10%
BroadcomAVGO	<0.1%	$650,864	1,723	-4%
CumminsCMI	<0.1%	$649,635	911	Held
Ishares TRSCZ	<0.1%	$643,270	7,819	-3%
CencoraCOR	<0.1%	$638,403	2,256	-8%

Showing the largest 100 of 157.

Over time and by industry

Value over time

Jun '25

Dec '25

Jun '26

Value is up 18.2% since 30 June 2025.

Where the money is

Industrials10.3%

Technology7.6%

Financial services7.2%

Health care5.8%

Everyday goods5.3%

Retail & consumer3.8%

Energy3.2%

Utilities1.6%

Media & telecom1.4%

Other53.7%

From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.