# EDGAR Filing Document

**Accession Number:** 0000892568
**File Stem:** 0000910472-26-003216
**Filing Date:** 2026-2
**Character Count:** 15589
**Document Hash:** c6f4be8552c9f367e020a3cc4c2b3eee
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-003216.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0000910472-26-003216

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CUTLER TRUST
- **CENTRAL INDEX KEY:** 0000892568

**ORGANIZATION NAME:**
- **EIN:** 133693851
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07242
- **FILM NUMBER:** 26693610

**BUSINESS ADDRESS:**
- **STREET 1:** C/O ULTIMUS FUND SOLUTIONS, LLC
- **STREET 2:** 225 PICTORIA DRIVE, SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 513-587-3400

**MAIL ADDRESS:**
- **STREET 1:** C/O ULTIMUS FUND SOLUTIONS, LLC
- **STREET 2:** 225 PICTORIA DRIVE, SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

## Series and Classes Contracts Data

### Cutler Equity Fund (Series ID: S000001540)

| Class ID   | Class Name         | Ticker Symbol   |
|:---|:---|:---|
| C000222167 | Cutler Equity Fund | DIVHX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** The Cutler Trust

- **b. Investment Company Act file number:** 811-07242

- **c. CIK number of Registrant:** 0000892568

- **d. LEI of Registrant:** 549300KVSOCUTW3E0J66

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 525 Bigham Knoll

  - **City:** Jacksonville

  - **State:** OR

  - **Foreign country:** US

  - **Zip / Postal Code:** 97530

  - **Telephone number:** 514-770-9000

**Item A.2. Information about the Series.**

- **a. Name of Series:** CUTLER EQUITY FUND

- **b. EDGAR series identifier (if any):** S000001540

- **c. LEI of Series:** 549300PVCU95CJI0CF50

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $205224577.72

**Total Liabilities:** $188925.73

**Net Assets:** $205035651.99

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000222167 | -0.27%               | 1.90%                | -0.43%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3069401.57              | $-3820646.50                               |
| Month 2  | $495369.16               | $3206835.64                                |
| Month 3  | $3513136.84              | $-4589519.29                               |

### Schedule of Portfolio Investments

| Name                                  | Title                                                          | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Becton, Dickinson and Company         | Becton Dickinson & Company                                     | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |     21669 | NS      | $4205302.83   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Inc.                        | Blackrock, Inc.                                                | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |      9130 | NS      | $9772204.20   | 4.77%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                       | CVS Health Corporation                                         | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |     78838 | NS      | $6256583.68   | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Carrier Global Corporation            | Carrier Global Corporation                                     | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |     76383 | NS      | $4036077.72   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                       | Caterpillar, Inc.                                              | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |     23219 | NS      | $13301468.53  | 6.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp.                         | Chevron Corporation                                            | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29825 | NS      | $4545628.25   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Company                       | Deere & Company                                                | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |     16095 | NS      | $7493349.15   | 3.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Dupont De Nemours Inc                 | DuPont de Nemours, Inc.                                        | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |     41270 | NS      | $1659054.00   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                     | Exxon Mobil Corporation                                        | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     55578 | NS      | $6688256.52   | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc.                       | Home Depot, Inc. (The)                                         | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     22212 | NS      | $7643149.20   | 3.73%             |  |  |  | No            |                  1 | On Loan: No      |
| International Business Machines Corp. | International Business Machines Corporation                    | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |     20694 | NS      | $6129769.74   | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                  | JPMorgan Chase & Company                                       | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     22044 | NS      | $7103017.68   | 3.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                     | Johnson & Johnson                                              | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     24932 | NS      | $5159677.40   | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| The Kroger Co.                        | Kroger Company (The)                                           | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |     90343 | NS      | $5644630.64   | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corp.                          | Lennar Corporation Class A                                     | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |     22682 | NS      | $2331709.60   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T Bank Corporation                  | M&T Bank Corporation                                           | CUSIP: 55261F104<br>LEI: 549300WYXDDBYRASEG81 | Long             | EC               | CORP              | US        |     20047 | NS      | $4039069.56   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp.                      | McDonald's Corporation                                         | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |     24620 | NS      | $7524610.60   | 3.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc                      | Merck & Company, Inc.                                          | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     43950 | NS      | $4626177.00   | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                       | Microsoft Corporation                                          | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     29230 | NS      | $14136212.60  | 6.89%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc                    | NextEra Energy, Inc.                                           | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |     68647 | NS      | $5510981.16   | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Nike, Inc.                            | NIKE, Inc. Class B                                             | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |     59658 | NS      | $3800811.18   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group Inc.     | PNC Financial Services Group, Inc. (The)                       | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |     22066 | NS      | $4605836.18   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Pepsico Inc                           | PepsiCo, Inc.                                                  | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |     28332 | NS      | $4066208.64   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc.                           | Pfizer, Inc.                                                   | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |     86288 | NS      | $2148571.20   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| The Procter & Gamble Co.              | Procter & Gamble Company (The)                                 | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     29135 | NS      | $4175336.85   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Qnity Electronics Inc.                | Qnity Electonics, Inc.                                         | CUSIP: 74743L100<br>LEI: 254900RSUG4J9TFFZX53 | Long             | EC               | CORP              | US        |     24437 | NS      | $1995281.05   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp.                             | RTX Corporation                                                | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     58744 | NS      | $10773649.60  | 5.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic Services, Inc.               | Republic Services, Inc.                                        | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |     37861 | NS      | $8023881.73   | 3.91%             |  |  |  | No            |                  1 | On Loan: No      |
| The Charles Schwab Corporation        | Charles Schwab Corporation (The)                               | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |     96259 | NS      | $9617236.69   | 4.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Short-Term Invts T                    | InvesCo STIT Government & Agency Portfolio INSTITUTIONAL CLASS | CUSIP: 825252885<br>LEI: 549300UJV6OHYATSFU27 | Long             | STIV             | RF                | US        |    164130 | PA      | $164130.18    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc.                | Texas Instruments, Inc.                                        | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |     28488 | NS      | $4942383.12   | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc.           | Verizon Communications, Inc.                                   | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |    120884 | NS      | $4923605.32   | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                           | Walmart, Inc.                                                  | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |    108428 | NS      | $12079963.48  | 5.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                         | Medtronic plc                                                  | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |     61083 | NS      | $5867632.98   | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-31

**Name of Applicant:** Cutler Equity Fund

**Signature:** Daniel D. Bauer

**Name of Signer:** Daniel D. Bauer

**Title:** VP, Fund Accounting