Q2 2026 13F · SEC CIK 1285973

Cutler Investment Counsel LLC

Wealth managerFiled 2026-07-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $1.1B
Reported positions: 157
Top holdings a year, 3 yrs: +14.7%
Assets under management: $1.5B

Cutler Investment Counsel LLC is a wealth manager that reported 157 positions worth $1.1B in its Q2 2026 13F, filed 2026-07-14. Its largest holdings were Vanguard Index Fds (VO, 5.0%), Ishares Core Msci Eafe ETF (IEFA, 4.5%), Ishares 1-3 Yr Credit Bond ETF (IGSB, 4.3%). A portfolio copying its top holdings returned 14.7% a year over the last 3 years, against 20.4% for the S&P 500.

Cutler Investment Counsel LLC holdings largest 50 of 157 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Cutler Investment Counsel LLC 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
VOVanguard Index Fds	5.0%	4.8%	654,530	+305.9%	$52.7M
IEFAIshares Core Msci Eafe ETF	4.5%	4.6%	497,532	+1.4%	$48.1M
IGSBIshares 1-3 Yr Credit Bond ETF	4.3%	4.6%	881,726	+3.4%	$46.2M
SPEMState Street Spdr Portfolio Emerging Mar	3.9%	3.9%	808,417	+0.8%	$41.9M
JIREJ P Morgan Exchange Traded F	3.7%	3.6%	480,390	+2.8%	$39.6M
IUSGiShares ETFs/USA	3.4%	3.0%	189,385	+0.6%	$35.6M
CATCaterpillar Inc Com	3.1%	2.8%	30,925	-18.2%	$32.9M
IJRIshares Core S&p Small Cap ETF	2.9%	2.6%	208,300	+1.4%	$30.9M
VUGVanguard Indx Fd	2.9%	2.6%	355,675	+504.6%	$30.6M
SPABSpdr Series Trust	2.8%	3.0%	1,160,764	+3.7%	$29.6M
GOVTIshares Tr	2.5%	2.6%	1,149,762	+3.4%	$26.2M
MSFTMicrosoft Corp	2.4%	2.6%	67,261	-0.4%	$25.1M
WMTWalmart Inc	2.3%	2.8%	217,092	-0.2%	$24.6M
RTXRtx Corporation Com	2.1%	2.3%	115,223	+0.2%	$21.9M
DEDeere & Co Com	1.9%	1.9%	32,312	-0.1%	$20.5M
SCHWSchwab Charles Corp	1.6%	1.8%	186,829	+0.3%	$17.2M
BLKBlackrock Inc	1.6%	1.7%	17,531	+0.2%	$16.9M
TXNTexas Instruments Inc	1.6%	1.1%	56,533	+0.3%	$16.9M
RSGRepublic Svcs Inc	1.6%	1.7%	77,512	-0.0%	$16.5M
XOMExxon Mobil Corp	1.5%	2.1%	119,449	+0.4%	$16.3M
NEENextera Energy Inc Com	1.5%	1.3%	185,395	+38.0%	$16.3M
HDHome Depot Inc Com	1.5%	1.6%	46,023	-0.4%	$16.2M
CVSCvs Caremark Corporation	1.5%	1.1%	149,901	+0.3%	$15.5M
JPMJpmorgan Chase & Co	1.4%	1.4%	45,620	-0.7%	$14.9M
SPLGSpdr Series Trust	1.3%	1.1%	157,363	+7.9%	$13.8M
MCDMcdonalds Corp Com	1.3%	1.6%	50,409	+0.1%	$13.6M
RPGInvesco Exchange Traded Fd T	1.2%	1.0%	204,690	-0.6%	$13.1M
JNJJohnson & Johnson	1.2%	1.3%	50,046	+0.4%	$12.7M
IBMInternational Business Machs	1.1%	1.1%	42,402	+0.0%	$11.9M
MRKMerck & Co. Inc	1.1%	1.1%	87,765	+0.2%	$11.4M
CVXChevron Corp New	1.0%	1.4%	66,008	+0.3%	$10.9M
PNCPnc Finl Svcs Group Inc	1.0%	0.9%	44,011	-0.1%	$10.8M
IVVIshares Core S&p 500 ETF	1.0%	0.9%	14,234	+2.7%	$10.7M
CARRCarrier Global Corporation	1.0%	0.8%	145,301	-0.1%	$10.7M
VZVerizon Communications Inc Com	0.9%	1.2%	233,690	+0.1%	$9.9M
VSSVanguard Intl Equity Index F	0.9%	0.9%	63,978	+2.9%	$9.9M
KRThe Kroger Co	0.9%	1.3%	174,825	-0.1%	$9.7M
REETIshares Tr	0.9%	0.9%	344,085	+4.0%	$9.5M
MTBM & T Bk Corp	0.9%	0.8%	38,742	-0.0%	$9.2M
MDTMedtronic PLC	0.9%	1.0%	114,555	-0.3%	$9.0M
CSCOCisco Sys Inc	0.8%	—	76,816	—	$9.0M
EMLCVaneck ETF Trust	0.8%	0.9%	341,363	+2.5%	$8.7M
PGProcter & Gamble Co Com	0.8%	0.9%	59,169	-0.6%	$8.7M
SCHASchwab U.s. Small-Cap ETF	0.7%	—	218,995	—	$7.9M
BIVVanguard Bd Index Fds	0.7%	0.7%	102,792	+12.7%	$7.9M
QQnity Electronics Inc	0.7%	—	47,876	—	$7.8M
PEPPepsico Inc	0.7%	0.9%	56,765	+0.4%	$7.7M
VEAVanguard Tax-Managed Fds	0.7%	0.6%	107,554	+11.5%	$7.7M
VTVVanguard Value ETF	0.7%	0.7%	34,757	+3.8%	$7.6M
EFAVIshares Tr	0.7%	0.8%	80,264	-0.8%	$7.0M

What Cutler Investment Counsel LLC bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

VUG Vanguard Indx Fd+504.6% shares
VO Vanguard Index Fds+305.9% shares
NEE Nextera Energy Inc Com+38.0% shares
BIV Vanguard Bd Index Fds+12.7% shares
VEA Vanguard Tax-Managed Fds+11.5% shares
SPLG Spdr Series Trust+7.9% shares

Reduced

CAT Caterpillar Inc Com-18.2% shares

Left the top 50

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +14.3% /yr; S&P 500 +20.1%
3 years: +14.7% /yr; S&P 500 +20.4%
5 years: +6.3% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$1.1B	157
Q1 2026	$971.1M	146
Q4 2025	$961.2M	143
Q3 2025	$953.8M	140
Q2 2025	$898.7M	138
Q1 2025	$832.3M	132
Q4 2024	$803.8M	128
Q3 2024	$792.7M	127
Q2 2024	$734.9M	128
Q1 2024	$745.5M	127
Q4 2023	$700.0M	130
Q3 2023	$634.8M	123

Questions about Cutler Investment Counsel LLC's portfolio

What stocks does Cutler Investment Counsel LLC own?

Cutler Investment Counsel LLC's latest 13F, for Q2 2026 and filed Jul 14, 2026, lists 157 positions worth $1.1B. The largest are Vanguard Index Fds (VO) at 5.0%, Ishares Core Msci Eafe ETF (IEFA) at 4.5%, Ishares 1-3 Yr Credit Bond ETF (IGSB) at 4.3%, State Street Spdr Portfolio Emerging Mar (SPEM) at 3.9% and J P Morgan Exchange Traded F (JIRE) at 3.7%.

What did Cutler Investment Counsel LLC buy last quarter?

In Q2 2026, Cutler Investment Counsel LLC added Vanguard Indx Fd (VUG) (+504.6% shares), Vanguard Index Fds (VO) (+305.9% shares) and Nextera Energy Inc Com (NEE) (+38.0% shares), compared with its Q1 2026 filing.

What did Cutler Investment Counsel LLC sell last quarter?

In Q2 2026, Cutler Investment Counsel LLC cut from its top 50 Phillips 66 (PSX), cut from its top 50 Becton Dickinson & Co (BDX), cut from its top 50 Apple Inc (AAPL) and Caterpillar Inc Com (CAT) (-18.2% shares), compared with its Q1 2026 filing.

How has Cutler Investment Counsel LLC's portfolio performed?

A portfolio copying Cutler Investment Counsel LLC's 20 largest 13F holdings each quarter, from the day each filing was public, returned +14.7% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +14.3% against +20.1%. Over 5 years: +6.3% a year against +11.6%.

When is Cutler Investment Counsel LLC's next 13F filing due?

13F filings are due 45 days after each quarter ends. Cutler Investment Counsel LLC's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Cutler Investment Counsel LLC manage?

Cutler Investment Counsel LLC reported $1.5B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $1.1B.