Instuitional Investor - Cutler Capital Management, Llc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Agnico Eagle Mines Ltd	AEM	118,598	$24,073,021	6.51%
2.	Metlife Inc	MET	175,759	$12,429,651	3.36%
3.	Cto Realty Growth Inc.	CTO	659,370	$12,191,754	3.3%
4.	Timberland Bancorp Inc	TSBK	291,202	$11,482,075	3.1%
5.	Exchange Bank		75,781	$11,033,714	2.98%