Cutter & CO Brokerage, Inc.

Open in PORT →← all managers

CIK 1406995

13F portfolio (2025-Q1)

$423M

Positions

183

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2024-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

Open in PORT →

As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2025-Q1)

Holdings

183

Top 5

33.7%

Top 10

46.7%

Effective N

24.8

HHI

0.040

This quarter

34 new · 0 exit →

By sector

Financials19.3%

Industrials15.6%

Unclassified12.7%

Utilities11.5%

Health Care11.1%

Information Technology6.5%

Communication Services6.4%

Materials6.2%

Other10.7%

By market cap

Mega (>$200B)39.9%

Large ($10–200B)37.1%

Unknown17.8%

Mid ($2–10B)3.9%

Micro (<$300M)0.9%

Small ($300M–2B)0.4%

By region

North America86.9%

Other12.7%

Europe0.4%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	28.11%	57
Utilities	11.45%	9
Pharmaceuticals & Biotechnology	11.04%	12
Aerospace & Defense	8.58%	7
Software & IT Services	5.71%	4
Road & Rail	5.15%	4
Chemicals	5.04%	2
Specialty Retail	3.67%	6
Technology Hardware & Equipment	2.62%	12
Commercial Services & Supplies	2.60%	7
Oil, Gas & Consumable Fuels	2.39%	6
Software	2.33%	7
Distributors	2.04%	2
Machinery	1.42%	5
Semiconductors & Semiconductor Equipment	1.40%	5
Metals & Mining	1.14%	2
Food Products	1.06%	3
Insurance	0.89%	5
Banks	0.75%	7
Diversified Telecommunication Services	0.62%	2
Real Estate Management & Development	0.56%	1
Tobacco	0.32%	2
Hotels, Restaurants & Leisure	0.20%	2
Construction & Engineering	0.14%	2
Equity Real Estate Investment Trusts (REITs)	0.13%	1
Household Durables	0.11%	1
Media & Entertainment	0.10%	2
Automobiles & Components	0.07%	1
Electrical Equipment & Components	0.07%	1
Life Sciences Tools & Services	0.07%	1
Beverages	0.06%	1
Textiles, Apparel & Luxury Goods	0.06%	1
Capital Markets	0.05%	1
Health Care Equipment & Supplies	0.03%	1
Diversified Consumer Services	0.00%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	BRK.B	BERKSHIRE HATHAWAY INC	Financials	15.37%
2	EPD	ENTERPRISE PRODUCTS PARTNERS L.P.	Utilities	5.53%
3	NVO	NOVO NORDISK A S	Health Care	4.65%
4	HEI	HEICO CORP	Industrials	4.09%
5	GOOG	Alphabet Inc.	Communication Services	4.04%
6	LIN	LINDE PLC	Materials	3.43%
7	CP	CANADIAN PACIFIC KANSAS CITY LTD/CN	Industrials	3.19%
8	ET	Energy Transfer LP	Utilities	2.47%
9	AMZN	AMAZON COM INC	Consumer Discretionary	1.98%
10	LLY	ELI LILLY & Co	Health Care	1.94%

127/183 names classified · sector 87.3% of weight · industry 71.9% · mkt cap 82.2%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 48 quarters

UtilitiesEPD, AWK, KMI, HTO, ARTNA · other

FinancialsBRK.B, V, MA, LCNB, UNH · other

Health CareNVO, MDT, REGN, LLY, ZTS · other

IndustrialsHEI, VMI, CP, BABA, TDG · other

MaterialsLIN, SXT, FMC, IFF, MP · other

Consumer StaplesPEP, DEO, MKC, INGR, ADM · other

Communication ServicesGOOG, META, T, TDS, VOD · other

Consumer DiscretionaryMUSA, WSO, AMZN, WMT, CODI · other

Information TechnologyAAPL, MSFT, AVGO, NVDA, MRCY · other

EnergyCVX, PAGP, OXY, BP, ENB · other

Real EstateJOE, VTR, RYN, SBRA, OHI · other

UnclassifiedKENNEDY-WILSON HOLDINGS INC, ENBRIDGE ENERGY MANAGEMENT L, CONNECTICUT WTR SVC INC, GVDNY, SYIEF · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 87.3% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2025-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

holdings, colored by sector (108 classified)Cutter & CO Brokerage, Inc. centroid (Large Core)

IndustrialsHealth CareCommunication ServicesInformation TechnologyConsumer DiscretionaryMaterialsFinancialsUtilitiesEnergyConsumer StaplesReal Estate

Style box summary for Cutter & CO Brokerage, Inc.: centroid Large Core. Heaviest cells: Large Growth 17.6%, Large Core 9.6%, Mid Growth 7.1%.

Classified: 54.2% of book weight (108/181 names) · unclassified 45.8%: BRK.B, EPD, NVO, CP, ET, AAAU, VOO, MP, SPY, FIXD +63 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 183 positions (2025-Q1) · largest first · Δ vs 2024-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	BRK.BBERKSHIRE HATHAWAY INC DEL	122,013	$65M	15.4%	TRIM −9%
2	EPDENTERPRISE PRODS PARTNERS L	684,113	$23M	5.5%	ADD 2%
3	NVONOVO-NORDISK A S	282,972	$20M	4.6%	TRIM −2%
4	HEIHEICO CORP NEW	64,647	$17M	4.1%	HOLD
5	GOOGALPHABET INC	109,214	$17M	4.0%	ADD 4%
6	LINLINDE PLC	31,098	$14M	3.4%	TRIM −7%
7	CPCANADIAN PACIFIC KANSAS CITY	191,875	$13M	3.2%	TRIM −7%
8	ETENERGY TRANSFER L P	562,361	$10M	2.5%	ADD 18%
9	AMZNAMAZON COM INC	43,971	$8M	2.0%	ADD 37%
10	LLYELI LILLY & CO	9,919	$8M	1.9%	ADD 13%
11	WSOWATSCO INC	15,020	$8M	1.8%	ADD 9%
12	AWKAMERICAN WTR WKS CO INC NEW	49,061	$7M	1.7%	TRIM −3%
13	TDGTRANSDIGM GROUP INC	5,112	$7M	1.7%	NEW
14	AAAUGOLDMAN SACHS PHYSICAL GOLD	223,828	$7M	1.6%	HOLD
15	REGNREGENERON PHARMACEUTICALS	10,838	$7M	1.6%	ADD 36%
16	BCPCBALCHEM CORP	40,968	$7M	1.6%	TRIM −3%
17	MSFTMICROSOFT CORP	17,210	$6M	1.5%	ADD 124%
18	AAPLAPPLE INC	26,119	$6M	1.4%	TRIM −19%
19	OXYOCCIDENTAL PETE CORP	113,475	$6M	1.3%	ADD 9%
20	UNPUNION PAC CORP	23,625	$6M	1.3%	TRIM −5%
21	METAMETA PLATFORMS INC	9,616	$6M	1.3%	HOLD
22	VOOVANGUARD INDEX FDS	9,690	$5M	1.2%	HOLD
23	VVISA INC	14,116	$5M	1.2%	ADD 9%
24	MAMASTERCARD INCORPORATED	8,296	$5M	1.1%	ADD 101%
25	MPMP MATERIALS CORP	181,048	$4M	1.0%	TRIM −4%
26	BJBJS WHSL CLUB HLDGS INC	36,210	$4M	1.0%	TRIM −4%
27	VRTXVERTEX PHARMACEUTICALS INC	8,407	$4M	1.0%	TRIM −29%
28	LHXL3HARRIS TECHNOLOGIES INC	18,442	$4M	0.9%	ADD 6%
29	ZBRAZEBRA TECHNOLOGIES CORPORATI	13,091	$4M	0.9%	TRIM −4%
30	ADMARCHER DANIELS MIDLAND CO	76,246	$4M	0.9%	TRIM −7%
31	NOCNORTHROP GRUMMAN CORP	6,953	$4M	0.8%	TRIM −2%
32	RGCORGC RES INC	147,854	$3M	0.7%	ADD 8%
33	LMTLOCKHEED MARTIN CORP	6,862	$3M	0.7%	ADD 40%
34	NVDANVIDIA CORPORATION	26,155	$3M	0.7%	TRIM −8%
35	UGIUGI CORP NEW	82,466	$3M	0.6%	ADD 9%
36	PFEPFIZER INC	99,867	$3M	0.6%	TRIM −10%
37	SPYSTATE STR SPDR S&P 500 ETF T	4,520	$3M	0.6%	ADD 2%
38	CSXCSX CORP	85,882	$3M	0.6%	HOLD
39	AVGOBROADCOM INC	14,416	$2M	0.6%	TRIM −10%
40	FIXDFIRST TR EXCHNG TRADED FD VI	54,430	$2M	0.6%	ADD 10%
41	JOEST JOE CO	50,673	$2M	0.6%	NEW
42	CVXCHEVRON CORP NEW	13,861	$2M	0.5%	TRIM −24%
43	VGTVANGUARD WORLD FD	3,913	$2M	0.5%	HOLD
44	UNHUNITEDHEALTH GROUP INC	3,963	$2M	0.5%	NEW
45	CIBRFIRST TR EXCHANGE-TRADED FD	32,918	$2M	0.5%	ADD 4%
46	QQQINVESCO QQQ TR	4,253	$2M	0.5%	TRIM −21%
47	VDEVANGUARD WORLD FD	15,148	$2M	0.5%	NEW
48	PSLVSPROTT ASSET MANAGEMENT LP	168,771	$2M	0.5%	ADD 8%
49	SCHDSCHWAB STRATEGIC TR	69,466	$2M	0.5%	ADD 5%
50	PLTRPALANTIR TECHNOLOGIES INC	22,642	$2M	0.5%	TRIM −15%
51	IWMISHARES TR	9,558	$2M	0.5%	TRIM −4%
52	ABBVABBVIE INC	7,744	$2M	0.4%	ADD 10%
53	TAT&T INC	55,893	$2M	0.4%	TRIM −17%
54	VAWVANGUARD WORLD FD	8,086	$2M	0.4%	HOLD
55	DIASPDR DOW JONES INDL AVERAGE	3,630	$2M	0.4%	ADD 6%
56	ARCCARES CAPITAL CORP	67,158	$1M	0.4%	ADD 6%
57	LRCXLAM RESEARCH CORP	20,342	$1M	0.3%	TRIM −21%
58	FIWFIRST TR EXCHANGE-TRADED FD	13,049	$1M	0.3%	HOLD
59	GOOGLALPHABET INC	8,224	$1M	0.3%	HOLD
60	SLVISHARES SILVER TR	40,203	$1M	0.3%	TRIM −9%
61	GDXVANECK ETF TRUST GOLD MINERS ETF	25,575	$1M	0.3%	TRIM −3%
62	JPMJPMORGAN CHASE & CO	4,356	$1M	0.3%	HOLD
63	HIIHUNTINGTON INGALLS INDS INC	5,144	$1M	0.2%	TRIM −8%
64	BMYBRISTOL-MYERS SQUIBB CO	17,056	$1M	0.2%	ADD 8%
65	VZVERIZON COMMUNICATIONS INC	22,826	$1M	0.2%	ADD 10%
66	SCHGSCHWAB U.S. LARGE-CAP GROWTH ETF	40,550	$1M	0.2%	HOLD
67	IBMINTERNATIONAL BUSINESS MACHS	4,061	$1M	0.2%	TRIM −4%
68	CAHCARDINAL HEALTH INC	7,296	$1M	0.2%	ADD 29%
69	HDHOME DEPOT INC	2,668	$978,023	0.2%	ADD 11%
70	PANWPALO ALTO NETWORKS INC	5,406	$922,479	0.2%	ADD 77%
71	BBWBUILD-A-BEAR WORKSHOP INC	24,751	$919,995	0.2%	HOLD
72	VLOVALERO ENERGY CORP	6,477	$855,404	0.2%	NEW
73	SCHBSCHWAB STRATEGIC TR	39,586	$852,289	0.2%	ADD 16%
74	QQQMINVESCO EXCH TRADED FD TR II	4,322	$834,303	0.2%	TRIM −2%
75	MOALTRIA GROUP INC	13,645	$818,988	0.2%	ADD 56%
76	FXOFIRST TR EXCHANGE TRADED FD	15,246	$808,016	0.2%	HOLD
77	BRK.ABERKSHIRE HATHAWAY INC DEL	1	$798,442	0.2%	HOLD
78	EMXCISHARES INC	14,487	$798,084	0.2%	ADD 5%
79	MRKMERCK & CO INC	8,763	$786,556	0.2%	ADD 22%
80	PHYSSprott Physical Gold Trust	31,337	$753,969	0.2%	ADD 47%
81	GILDGILEAD SCIENCES INC	6,423	$719,736	0.2%	ADD 44%
82	SHELSHELL PLC	9,413	$689,811	0.2%	TRIM −38%
83	WMTWALMART INC	7,338	$644,206	0.2%	ADD 4%
84	CSCOCISCO SYS INC	10,013	$617,949	0.1%	ADD 49%
85	BACBANK AMERICA CORP	14,766	$616,193	0.1%	ADD 39%
86	CITHE CIGNA GROUP	1,852	$609,515	0.1%	TRIM −22%
87	MCDMCDONALDS CORP	1,913	$597,437	0.1%	HOLD
88	NEENEXTERA ENERGY INC	8,351	$591,975	0.1%	ADD 9%
89	IYWISHARES TR	4,080	$572,936	0.1%	TRIM −8%
90	AMGNAMGEN INC	1,783	$555,479	0.1%	ADD 120%
91	JNJJOHNSON & JOHNSON	3,333	$552,717	0.1%	ADD 43%
92	CBCHUBB LIMITED	1,806	$545,394	0.1%	ADD 9%
93	TIPISHARES TR	4,877	$541,766	0.1%	TRIM −3%
94	PMPHILIP MORRIS INTL INC	3,400	$539,666	0.1%	HOLD
95	OHIOMEGA HEALTHCARE INVS INC	14,046	$534,861	0.1%	ADD 63%
96	XGDVXGABELLI DIVID & INCOME TR	21,912	$528,737	0.1%	HOLD
97	TFCTRUIST FINL CORP	11,653	$479,520	0.1%	NEW
98	VIGVANGUARD SPECIALIZED FUNDS	2,424	$470,207	0.1%	NEW
99	ORCLORACLE CORP	3,343	$467,450	0.1%	NEW
100	HPEHEWLETT PACKARD ENTERPRISE C	30,189	$465,817	0.1%	ADD 116%
101	FVFIRST TR EXCHANGE TRADED FD	8,461	$464,170	0.1%	HOLD
102	CRWDCROWDSTRIKE HLDGS INC	1,316	$463,996	0.1%	ADD 111%
103	COSTCOSTCO WHSL CORP NEW	490	$462,995	0.1%	TRIM −9%
104	KHCKRAFT HEINZ CO	15,105	$459,655	0.1%	ADD 46%
105	GNSSGENASYS INC	198,400	$450,368	0.1%	TRIM −2%
106	KLACKLA CORP	631	$429,603	0.1%	ADD 79%
107	VOOVVANGUARD ADMIRAL FDS INC	2,329	$428,895	0.1%	HOLD
108	GLWCORNING INC	9,021	$412,978	0.1%	NEW
109	XOMEXXON MOBIL CORP	3,458	$411,200	0.1%	ADD 13%
110	GLDSPDR GOLD TR	1,424	$410,311	0.1%	TRIM −39%
111	HSBCHSBC HLDGS PLC	7,122	$409,016	0.1%	NEW
112	FTXRFIRST TR EXCHANGE TRADED FD	13,420	$398,440	0.1%	HOLD
113	WMWASTE MGMT INC DEL	1,721	$398,375	0.1%	HOLD
114	RDVYFIRST TR EXCHANGE TRADED FD	6,758	$395,633	0.1%	ADD 71%
115	TMOTHERMO FISHER SCIENTIFIC INC	768	$382,056	0.1%	NEW
116	HONHONEYWELL INTL INC	1,778	$376,468	0.1%	TRIM −17%
117	FISVFISERV INC	1,685	$372,099	0.1%	TRIM −3%
118	PWRQUANTA SVCS INC	1,441	$366,323	0.1%	TRIM −6%
119	EOSEEOS ENERGY ENTERPRISES INC	96,740	$365,677	0.1%	TRIM −18%
120	NXPINXP SEMICONDUCTORS N V	1,918	$364,526	0.1%	ADD 10%
121	SOSOUTHERN CO	3,959	$364,075	0.1%	TRIM −8%
122	GLTRABRDN PRECIOUS METALS BASKET	2,765	$357,985	0.1%	TRIM −18%
123	ANETARISTA NETWORKS INC	4,579	$354,781	0.1%	ADD 6%
124	WFCWELLS FARGO CO NEW	4,803	$344,832	0.1%	HOLD
125	BGBUNGE GLOBAL SA	4,464	$341,112	0.1%	TRIM −42%
126	CMICUMMINS INC	1,063	$333,208	0.1%	HOLD
127	JEPIJPMorgan Equity Premium Income ETF	5,569	$318,209	0.1%	TRIM −37%
128	METMETLIFE INC	3,886	$312,040	0.1%	NEW
129	AEPAMERICAN ELEC PWR CO INC	2,830	$309,234	0.1%	NEW
130	FFORD MTR CO	29,687	$297,756	0.1%	HOLD
131	GEGE AEROSPACE	1,471	$294,438	0.1%	HOLD
132	UDNINVESCO DB US DLR INDEX TR	16,525	$290,014	0.1%	HOLD
133	RDZNROADZEN INC	276,200	$287,248	0.1%	NEW
134	RVTROYCE SMALL CAP TRUST INC	19,970	$284,370	0.1%	ADD 52%
135	ENVXENOVIX CORPORATION	38,540	$282,883	0.1%	TRIM −7%
136	IQVIQVIA HLDGS INC	1,574	$277,496	0.1%	TRIM −4%
137	EXCEXELON CORP	5,965	$274,836	0.1%	NEW
138	LDOSLEIDOS HOLDINGS INC	2,036	$274,729	0.1%	TRIM −15%
139	VXUSVANGUARD STAR FDS	4,422	$274,606	0.1%	NEW
140	KOCOCA COLA CO	3,776	$270,446	0.1%	TRIM −57%
141	QUBTQUANTUM COMPUTING INC	33,570	$268,560	0.1%	ADD 4%
142	ACNACCENTURE PLC IRELAND	845	$263,674	0.1%	NEW
143	UBERUBER TECHNOLOGIES INC	3,610	$263,025	0.1%	TRIM −25%
144	BNDVANGUARD BD INDEX FDS	3,557	$261,262	0.1%	TRIM −3%
145	SANWS&W SEED CO	37,175	$259,482	0.1%	NEW
146	CATCATERPILLAR INC	772	$254,606	0.1%	HOLD
147	QSRRESTAURANT BRANDS INTL INC	3,751	$249,967	0.1%	NEW
148	ASMLASML HOLDING N V	368	$243,942	0.1%	ADD 6%
149	SLBSCHLUMBERGER LTD	5,824	$243,437	0.1%	NEW
150	TPRTAPESTRY INC	3,397	$239,210	0.1%	TRIM −17%
151	VTIVANGUARD INDEX FDS	867	$238,324	0.1%	TRIM −6%
152	MUMICRON TECHNOLOGY INC	2,733	$237,457	0.1%	NEW
153	DELLDELL TECHNOLOGIES INC	2,603	$237,263	0.1%	NEW
154	PRUPRUDENTIAL FINL INC	2,083	$232,659	0.1%	NEW
155	GSYINVESCO ACTIVELY MANAGED EXC	4,600	$230,552	0.1%	NEW
156	GRIDFIRST TR EXCHANGE TRADED FD	2,026	$229,200	0.1%	NEW
157	NFLXNETFLIX INC	239	$222,874	0.1%	HOLD
158	WBDWARNER BROS DISCOVERY INC	20,408	$218,982	0.1%	TRIM −12%
159	CDNSCADENCE DESIGN SYSTEM INC	859	$218,469	0.1%	TRIM −7%
160	IGVISHARES TR	2,447	$217,788	0.1%	HOLD
161	GBTCGRAYSCALE BITCOIN TRUST ETF	3,300	$215,061	0.1%	TRIM −15%
162	AIRRFirst Trust RBA Amern Indl Renaissance ETF	3,141	$214,245	0.1%	NEW
163	NWGNATWEST GROUP PLC	17,963	$214,119	0.1%	NEW
164	FTGCFIRST TR EXCHANGE TRAD FD VI	8,267	$210,985	0.0%	NEW
165	CEFSPROTT ASSET MANAGEMENT LP	7,350	$208,814	0.0%	NEW
166	UPSUNITED PARCEL SERVICE INC	1,889	$207,729	0.0%	NEW
167	DHRDANAHER CORP DEL	1,006	$206,246	0.0%	TRIM −55%
168	EMEEMCOR GROUP INC	557	$205,957	0.0%	ADD 17%
169	IVZINVESCO LTD	13,443	$203,923	0.0%	NEW
170	BKLNINVESCO EXCH TRADED FD TR II	9,800	$202,860	0.0%	NEW
171	URIUNITED RENTALS INC	320	$200,544	0.0%	HOLD
172	BTZBLACKROCK CR ALLOCATION INCO	14,801	$158,667	0.0%	HOLD
173	VVOSVIVOS THERAPEUTICS INC	49,100	$139,935	0.0%	ADD 29%
174	Amarin Corp PLC	230,020	$103,509	0.0%	TRIM −4%
175	HRTXHERON THERAPEUTICS INC	36,465	$80,223	0.0%	ADD 10%
176	IDNINTELLICHECK INC	25,500	$77,265	0.0%	ADD 11%
177	QUIKQUICKLOGIC CORP	14,275	$72,945	0.0%	HOLD
178	PSECPROSPECT CAP CORP	16,465	$67,506	0.0%	ADD 3%
179	VENTYX BIOSCIENCES INC	54,000	$62,100	0.0%	NEW
180	ATCHATLASCLEAR HOLDINGS INC COM SHS	48,540	$32,522	0.0%	NEW
181	NRDYNERDY INC	11,000	$15,620	0.0%	HOLD
182	PRTSCARPARTS COM INC	14,500	$14,500	0.0%	HOLD
183	SENSEONICS HLDGS INC	10,000	$6,561	0.0%	HOLD

☆Cutter & CO Brokerage, Inc.