Q3 2026 13F · SEC CIK 1285973

Cutler Investment Counsel LLC

Wealth managerFiled 2026-10-28 for Q3 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $1.1B
Reported positions: 156
Top holdings a year, 3 yrs: +14.7%
Assets under management: $1.5B

Cutler Investment Counsel LLC is a wealth manager that reported 156 positions worth $1.1B in its Q3 2026 13F, filed 2026-10-28. Its largest holdings were Vanguard Index Fds (VO, 5.0%), Ishares Tr (IEFA, 4.6%), Ishares Tr (IGSB, 4.4%). 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 156 positions.

Weights are shares of the filer's total reported 13F value, compared with Q2 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	Q2 2026	Shares	Share change	Reported value
VOVanguard Index Fds	5.0%	5.0%	669,481	+2.3%	$52.5M
IEFAIshares Tr	4.6%	4.5%	506,028	+1.7%	$49.0M
IGSBIshares Tr	4.4%	4.3%	902,882	+2.4%	$46.3M
SPEMSpdr Index Shs Fds	4.0%	3.9%	825,163	+2.1%	$42.7M
JIREJpmorgan International Research Enhanced	3.9%	3.7%	497,617	+3.6%	$40.9M
IUSGIshares Tr	3.5%	3.4%	190,280	+0.5%	$36.9M
MSFTMicrosoft Corp	3.2%	2.4%	66,277	-1.5%	$34.0M
VUGVanguard Index Fds	3.1%	2.9%	362,036	+1.8%	$32.6M
IJRIshares Tr	2.8%	2.9%	214,647	+3.0%	$29.2M
SPABSpdr Series Trust	2.7%	2.8%	1,190,047	+2.5%	$29.0M
TLHIshares Tr	2.4%	—	270,322	—	$24.9M
CATCaterpillar Inc	2.3%	3.1%	30,506	-1.4%	$24.7M
WMTWalmart Inc	2.3%	2.3%	228,648	+5.3%	$23.8M
DEDeere & Co	2.0%	1.9%	31,770	-1.7%	$21.4M
RTXRtx Corporation	2.0%	2.1%	114,191	-0.9%	$21.2M
XOMExxonmobil Holdings Corp	1.8%	—	118,801	—	$19.3M
BLKBlackrock Inc	1.7%	1.6%	17,342	-1.1%	$18.4M
SCHWCharles Schwab Corp (the)	1.7%	1.6%	184,503	-1.2%	$18.0M
RSGRepublic Svcs Inc	1.5%	1.6%	76,642	-1.1%	$16.1M
TXNTexas Instrs Inc	1.5%	1.6%	56,421	-0.2%	$15.8M
SPLGSpdr Series Trust	1.5%	1.3%	172,632	+9.7%	$15.5M
JPMJpmorgan Chase & Co	1.4%	1.4%	45,479	-0.3%	$15.0M
NEENextera Energy Inc	1.3%	1.5%	184,010	-0.7%	$13.9M
JNJJohnson & Johnson	1.2%	1.2%	49,681	-0.7%	$13.2M
HDHome Depot Inc	1.2%	1.5%	45,163	-1.9%	$12.8M
MRKMerck & Co Inc	1.2%	1.1%	87,332	-0.5%	$12.8M
CVSCvs Health Corp	1.2%	1.5%	146,921	-2.0%	$12.6M
CVXChevron Corporation	1.2%	1.0%	60,137	-8.9%	$12.3M
RPGInvesco Exchange Traded Fd T	1.1%	1.2%	200,962	-1.8%	$11.7M
MCDMcdonalds Corp	1.1%	1.3%	49,159	-2.5%	$11.4M
VZVerizon Communications Inc	1.0%	0.9%	230,978	-1.2%	$10.6M
VSSVanguard Intl Equity Index F	1.0%	0.9%	66,623	+4.1%	$10.3M
IVVIshares Tr	1.0%	1.0%	13,377	-6.0%	$10.2M
KRKroger Co	1.0%	0.9%	171,956	-1.6%	$10.1M
PSXPhillips 66	0.9%	—	38,835	—	$9.9M
MDTMedtronic PLC	0.9%	0.9%	112,178	-2.1%	$9.8M
PNCPnc Finl Svcs Group Inc	0.9%	1.0%	43,533	-1.1%	$9.7M
REETIshares Tr	0.9%	0.9%	361,133	+5.0%	$9.3M
IBMInternational Business Machs	0.9%	1.1%	41,797	-1.4%	$9.2M
EMLCVaneck ETF Trust	0.8%	0.8%	346,356	+1.5%	$8.6M
AAPLApple Inc	0.8%	—	25,560	—	$8.5M
PGProcter & Gamble Co	0.8%	0.8%	58,120	-1.8%	$8.4M
MTBM & T Bank Corp	0.8%	0.9%	38,084	-1.7%	$8.3M
CSCOCisco Sys Inc	0.8%	0.8%	74,303	-3.3%	$8.0M
BIVVanguard Bd Index Fds	0.8%	0.7%	109,076	+6.1%	$7.9M
CARRCarrier Global Corporation	0.7%	1.0%	143,017	-1.6%	$7.8M
VTVVanguard Index Fds	0.7%	0.7%	34,594	-0.5%	$7.5M
VEAVanguard Ftse Developed Markets Index Fu	0.7%	0.7%	104,878	-2.5%	$7.4M
BDXBecton Dickinson & Co	0.7%	—	39,792	—	$7.1M
VTIVanguard Index Fds	0.7%	—	18,907	—	$7.1M

What Cutler Investment Counsel LLC bought and sold in Q3 2026, against Q2 2026.

New positions

Q2 2026's filing was too long to tell new positions apart.

Added to

Reduced

CVX Chevron Corporation-8.9% shares
IVV Ishares Tr-6.0% shares

Left the top 50

GOVT Ishares Trwas 2.5%
XOM Exxon Mobil Corpwas 1.5%
SCHA Schwab Strategic Trwas 0.7%
Q Qnity Electronics Inc Common Stockwas 0.7%
PEP Pepsico Incwas 0.7%
EFAV Ishares Trwas 0.7%

Share counts compared with the Q2 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, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 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
Q3 2026	$1.1B	156
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

Questions about Cutler Investment Counsel LLC's portfolio

What stocks does Cutler Investment Counsel LLC own?

Cutler Investment Counsel LLC's latest 13F, for Q3 2026 and filed Oct 28, 2026, lists 156 positions worth $1.1B. The largest are Vanguard Index Fds (VO) at 5.0%, Ishares Tr (IEFA) at 4.6%, Ishares Tr (IGSB) at 4.4%, Spdr Index Shs Fds (SPEM) at 4.0% and Jpmorgan International Research Enhanced (JIRE) at 3.9%.

What did Cutler Investment Counsel LLC buy last quarter?

In Q3 2026, Cutler Investment Counsel LLC added Spdr Series Trust (SPLG) (+9.7% shares), Vanguard Bd Index Fds (BIV) (+6.1% shares) and Walmart Inc (WMT) (+5.3% shares), compared with its Q2 2026 filing.

What did Cutler Investment Counsel LLC sell last quarter?

In Q3 2026, Cutler Investment Counsel LLC cut from its top 50 Ishares Tr (GOVT), cut from its top 50 Exxon Mobil Corp (XOM), cut from its top 50 Schwab Strategic Tr (SCHA), cut from its top 50 Qnity Electronics Inc Common Stock (Q), cut from its top 50 Pepsico Inc (PEP), Chevron Corporation (CVX) (-8.9% shares) and Ishares Tr (IVV) (-6.0% shares), compared with its Q2 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 Dec 31, 2026 is due by Feb 14, 2027; 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.