# EDGAR Filing Document

**Accession Number:** 0000892568
**File Stem:** 0001752724-23-034375
**Filing Date:** 2023-2
**Character Count:** 15776
**Document Hash:** b82913460d32359ade05f445fb782123
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-034375.hdr.sgml**: 20230223

**ACCESSION NUMBER**: 0001752724-23-034375

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230223

**DATE AS OF CHANGE**: 20230223

**PERIOD START**: 20230630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CUTLER TRUST
- **CENTRAL INDEX KEY:** 0000892568
- **IRS NUMBER:** 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:** 23656311

**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:** 2023-06-30

- **b. Date as of which information is reported:** 2022-12-31

**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:** $189169031.50

**Total Liabilities:** $178404.85

**Net Assets:** $188990626.65

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000222167 | 10.50%               | 6.77%                | -3.00%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $17241321.23                               |
| Month 2  | $2982827.18              | $9122062.62                                |
| Month 3  | $0.00                    | $-6053811.42                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Raytheon Technologies Corporation           | Raytheon Technologies Corporation                              | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     36260 | NS      | $3659359.20   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Company                | Bristol-Myers Squibb Company                                   | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     85363 | NS      | $6141867.85   | 3.25%             |  |  |  | No            |                  1 | On Loan: No      |
| The Kroger Co.                              | Kroger Company (The)                                           | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |    106221 | NS      | $4735332.18   | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                                 | Walmart, Inc.                                                  | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     43502 | NS      | $6168148.58   | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Nike, Inc.                                  | NIKE, Inc. Class B                                             | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |     49750 | NS      | $5821247.50   | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Becton, Dickinson and Company               | Becton, Dickinson and Company                                  | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |     24025 | NS      | $6109557.50   | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc                            | Merck & Company, Inc.                                          | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     54990 | NS      | $6101140.50   | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corporation                      | McDonald's Corporation                                         | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |     29255 | NS      | $7709570.15   | 4.08%             |  |  |  | No            |                  1 | On Loan: No      |
| The Charles Schwab Corporation              | Charles Schwab Corporation (The)                               | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |    114000 | NS      | $9491640.00   | 5.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                           | Johnson & Johnson                                              | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     29970 | NS      | $5294200.50   | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Trust Corporation                  | Northern Trust Corporation                                     | CUSIP: 665859104<br>LEI: 549300GLF98S992BC502 | Long             | EC               | CORP              | US        |     31100 | NS      | $2752039.00   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Incorporated              | Texas Instruments, Inc.                                        | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |     33965 | NS      | $5611697.30   | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                               | Medtronic plc                                                  | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | US        |     39400 | NS      | $3062168.00   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corporation                     | Exxon Mobil Corporation                                        | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     63314 | NS      | $6983534.20   | 3.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc                              | Home Depot, Inc. (The)                                         | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     28575 | NS      | $9025699.50   | 4.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corporation                         | Comcast Corporation Class A                                    | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     62700 | NS      | $2192619.00   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic Services, Inc.                     | Republic Services, Inc.                                        | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |     46550 | NS      | $6004484.50   | 3.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Company                             | Deere & Company                                                | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |     26644 | NS      | $11423881.44  | 6.04%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                        | JPMorgan Chase & Company                                       | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     27800 | NS      | $3727980.00   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Dupont De Nemours Inc                       | DuPont de Nemours, Inc.                                        | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |     57891 | NS      | $3973059.33   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| International Business Machines Corporation | International Business Machines Corporation                    | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |     23000 | NS      | $3240470.00   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| The Procter & Gamble Company                | Procter & Gamble Company (The)                                 | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     34930 | NS      | $5293990.80   | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco                                     | InvesCo STIT Government & Agency Portfolio INSTITUTIONAL CLASS | CUSIP: 825252885<br>LEI: 549300UJV6OHYATSFU27 | Long             | STIV             | RF                | US        |   3552811 | PA      | $3552811.47   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Carrier Global Corporation                  | Carrier Global Corporation                                     | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |     85210 | NS      | $3514912.50   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corporation                         | Chevron Corporation                                            | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34870 | NS      | $6258816.30   | 3.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                             | Caterpillar, Inc.                                              | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |     35930 | NS      | $8607390.80   | 4.55%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock, Inc.                             | BlackRock, Inc.                                                | CUSIP: 09247X101<br>LEI: 549300LRIF3NWCU26A80 | Long             | EC               | CORP              | US        |     10764 | NS      | $7627693.32   | 4.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corporation                   | Union Pacific Corporation                                      | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     17500 | NS      | $3623725.00   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corporation                       | Microsoft Corporation                                          | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     35775 | NS      | $8579560.50   | 4.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc.                 | Verizon Communications, Inc.                                   | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |    139686 | NS      | $5503628.40   | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T Bank Corporation                        | M&T Bank Corporation                                           | CUSIP: 55261F104<br>LEI: 549300WYXDDBYRASEG81 | Long             | EC               | CORP              | US        |     23890 | NS      | $3465483.40   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corporation                           | Intel Corporation                                              | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |    127965 | NS      | $3382114.95   | 1.79%             |  |  |  | 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        |     26300 | NS      | $4153822.00   | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Pepsico Inc                                 | PepsiCo, Inc.                                                  | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |     33095 | NS      | $5978942.70   | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-23

**Name of Applicant:** Cutler Equity Fund

**Signature:** Daniel Bauer

**Name of Signer:** Daniel Bauer

**Title:** VP, Fund Accounting