Cutler Investment Counsel

Cutler Investment Counsel as of Sept. 30, 2016

Portfolio Holdings for Cutler Investment Counsel

Cutler Investment Counsel holds 75 positions in its portfolio as reported in the September 2016 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Vanguard Short-Term Bond ETF (BSV) 7.2 $27M 329k 80.83
Rydex S&P 500 Pure Growth ETF 6.6 $24M 289k 84.22
WisdomTree Intl. LargeCap Div (DOL) 5.9 $22M 504k 43.25
iShares Barclays 1-3 Year Cred Bd Fd ETF (IGSB) 5.5 $20M 193k 105.76
Vanguard Mid-Cap ETF (VO) 3.9 $14M 111k 129.44
iShares Barclays 20+ Yr Treas.Bond (TLT) 2.6 $9.5M 69k 137.50
Texas Instruments Incorporated (TXN) 2.6 $9.5M 135k 70.18
Chevron Corporation (CVX) 2.5 $9.1M 88k 102.92
Home Depot (HD) 2.4 $8.9M 69k 128.68
Exxon Mobil Corporation (XOM) 2.4 $8.7M 100k 87.28
Becton, Dickinson and (BDX) 2.2 $8.3M 46k 179.73
At&t (T) 2.2 $8.0M 198k 40.61
Microsoft Corporation (MSFT) 2.1 $7.9M 138k 57.60
Caterpillar (CAT) 2.1 $7.7M 86k 88.77
McDonald's Corporation (MCD) 2.1 $7.7M 67k 115.37
Walt Disney Company (DIS) 2.1 $7.7M 83k 92.86
Johnson & Johnson (JNJ) 2.0 $7.5M 63k 118.14
Pepsi (PEP) 2.0 $7.3M 67k 108.76
Verizon Communications (VZ) 1.9 $7.0M 135k 51.98
United Parcel Service (UPS) 1.9 $6.9M 63k 109.36
BlackRock (BLK) 1.9 $6.8M 19k 362.48
Intel Corporation (INTC) 1.8 $6.8M 181k 37.75
Bristol Myers Squibb (BMY) 1.8 $6.7M 124k 53.92
E.I. du Pont de Nemours & Company 1.8 $6.7M 100k 66.97
Procter & Gamble Company (PG) 1.8 $6.7M 74k 89.75
Dominion Resources (D) 1.8 $6.6M 89k 74.27
Merck & Co (MRK) 1.8 $6.6M 105k 62.41
Wal-Mart Stores (WMT) 1.8 $6.6M 91k 72.12
Deere & Company (DE) 1.8 $6.6M 77k 85.35
Target Corporation (TGT) 1.8 $6.6M 96k 68.68
Qualcomm (QCOM) 1.7 $6.4M 93k 68.49
United Technologies Corporation 1.6 $5.7M 57k 101.59
M&T Bank Corporation (MTB) 1.5 $5.5M 47k 116.11
American Express Company (AXP) 1.4 $5.1M 80k 64.04
SYSCO Corporation (SYY) 1.4 $5.0M 102k 49.01
National Fuel Gas (NFG) 1.3 $4.8M 88k 54.07
WisdomTree SmallCap Earnings Fund (EES) 1.2 $4.5M 54k 84.94
Northern Trust Corporation (NTRS) 1.2 $4.4M 65k 67.99
Vanguard Intl Equity Index F glb ex us etf (VNQI) 1.1 $4.2M 75k 56.17
Schlumberger (SLB) 1.0 $3.5M 45k 78.63
iShares MSCI Emerging Markets Indx (EEM) 0.9 $3.3M 87k 37.45
Powershares Global Etf Trust ex us sml port 0.8 $3.1M 111k 27.86
iShares Barclays 10-20 Yr Tresry Bd (TLH) 0.7 $2.5M 17k 144.82
WisdomTree Total Dividend Fund (DTD) 0.5 $1.7M 22k 78.11
Vanguard Growth ETF (VUG) 0.5 $1.7M 15k 112.29
PowerShares FTSE RAFI US 1000 0.5 $1.7M 18k 93.61
Vanguard Small-Cap Value ETF (VBR) 0.4 $1.5M 14k 110.63
Vanguard Small-Cap Growth ETF (VBK) 0.3 $1.3M 9.7k 131.80
Nextera Energy (NEE) 0.2 $771k 6.3k 122.38
Colgate-Palmolive Company (CL) 0.2 $593k 8.0k 74.12
iShares MSCI EAFE Growth Index (EFG) 0.1 $567k 8.3k 68.41
Emerson Electric (EMR) 0.1 $491k 9.0k 54.56
WisdomTree Earnings 500 Fund (EPS) 0.1 $496k 6.8k 72.83
Apple (AAPL) 0.1 $453k 4.0k 112.94
SPDR Gold Trust (GLD) 0.1 $458k 3.6k 125.69
Washington Federal (WAFD) 0.1 $422k 16k 26.65
iShares Lehman Aggregate Bond (AGG) 0.1 $400k 3.6k 112.33
Nuveen CA Dividend Advantage Muni. Fund (NAC) 0.1 $363k 22k 16.42
PNC Financial Services (PNC) 0.1 $342k 3.8k 90.00
Allstate Corporation (ALL) 0.1 $346k 5.0k 69.20
Vanguard Energy ETF (VDE) 0.1 $331k 3.4k 97.58
Discover Financial Services (DFS) 0.1 $293k 5.2k 56.56
Pfizer (PFE) 0.1 $259k 7.7k 33.82
iShares Gold Trust 0.1 $274k 22k 12.69
Schwab Strategic Tr 0 (SCHP) 0.1 $272k 4.8k 57.07
PT Telekomunikasi Indonesia (TLK) 0.1 $215k 3.3k 66.01
Starbucks Corporation (SBUX) 0.1 $211k 3.9k 54.07
IPATH MSCI India Index Etn 0.1 $217k 3.1k 69.22
KT Corporation (KT) 0.1 $192k 12k 16.06
Banco Itau Holding Financeira (ITUB) 0.1 $192k 18k 10.96
Naspers 0.1 $186k 11k 17.43
Ambev Sa- (ABEV) 0.1 $180k 30k 6.10
America Movil Sab De Cv spon adr l 0.0 $149k 13k 11.44
ICICI Bank (IBN) 0.0 $158k 21k 7.47
Ishares Inc etp (EWM) 0.0 $105k 13k 8.14