CALEX — Cutler Equity Fund
Data updated: 2026-09-11
CALEX — Cutler Equity Fund. United States Large Cap Blend / Core Equity · $221.95M AUM · 0.99% expense ratio. Holdings, fees, performance and SEC filings.
CALEX Fund Overview
CALEX — Cutler Equity Fund is a US mutual fund managed by Cutler Trust, categorised as United States Large Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Cutler Trust
- Category: United States Large Cap Blend / Core Equity
- Assets under management: $221.95M
- Ticker: CALEX
- SEC CIK: 0000892568
- SEC series ID: S000001540
- Share class ID: C000004187
CALEX Investment Objective and Strategy
Cutler Equity Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Cutler Trust.
Investment objective
The investment objective of the Cutler Equity Fund (the Equity Fund) is to seek current income and long-term capital appreciation.
Principal investment strategy
In seeking to meet its investment objective, under normal conditions, at least 80% of the Equity Funds assets will be invested in a diversified portfolio of common stocks according to the investment style of the Funds Adviser. For purposes of this policy, assets shall mean net assets plus the amount of any borrowings for investment purposes (although the Equity Fund is not currently authorized by the Board of Trustees to do so). The Adviser chooses investments in common stocks based on its judgment of fundamental value, which emphasizes stocks that the Adviser judges to have favorable dividend yields and growth prospects relative to comparable companies. Factors deemed particularly relevant in determining fundamental value include: earnings dividend and market price histories balance sheet characteristics perceived management skills Changes in economic and political outlooks, as well as corporate developments affecting individual companies, can influence specific security prices.
The Equity Fund typically invests in stocks of companies that have a total market capitalization of at least $10 billion and, in the Advisers opinion, have institutional ownership that is sufficiently broad to provide adequate liquidity suitable to the Funds holdings. The Adviser uses both top-down and bottom-up approaches, and investment selections are made using a fundamental approach. Top-down research involves the study of economic trends in the domestic and global economy, such as the fluctuation in interest or unemployment rates. These factors help to identify industries and sectors with the potential to outperform as a result of major economic developments. Bottom-up research involves detailed analysis of specific companies. Important factors include industry characteristics, profitability, growth dynamics, industry positioning, strength of management, valuation and expected return for the foreseeable future.
Particular attention is paid to a companys ability to pay or increase its current dividend. The Adviser will sell securities for any one of three possible reasons: When another company is found by the Adviser to have a higher current dividend yield or better potential for capital appreciation and dividend growth. If the industry moves in an unforeseen direction that negatively impacts the positioning of a particular investment or if the companys strategy, execution or industry positioning itself deteriorates. The Adviser develops specific views on how industries are likely to evolve and how individual companies will participate in industry growth and change. If the Adviser believes that a companys management is not acting in a forthright manner.
CALEX Holdings
Top 10 holdings of Cutler Equity Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Caterpillar, Inc. | 7.13% |
| Walmart, Inc. | 5.51% |
| Rtx Corp. | 4.99% |
| Microsoft Corp. | 4.87% |
| Deere & Company | 4.58% |
| Charles Schwab Corp. (the) | 4.00% |
| Blackrock, Inc. | 3.89% |
| Nextera Energy, Inc. | 3.88% |
| Texas Instruments, Inc. | 3.83% |
| Cvs Health Corp. | 3.67% |
CALEX Portfolio Allocation
Asset-class allocation of Cutler Equity Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 100.2% |
| Cash & Equivalents | 0.1% |
CALEX Costs and Fees
CALEX costs about $99 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.99%
- Gross expense ratio: 1.05%
- Portfolio turnover: 1%
- Brokerage commissions: 0.30 bps of average net assets (SEC N-CEN)
CALEX Cashflows
Over the 12 months to 2026-06, Cutler Equity Fund had net outflows of $2.06M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$839.64K |
| 2026-05 | −$125.30K |
| 2026-04 | $230.39K |
| 2026-03 | −$795.22K |
| 2026-02 | −$546.27K |
| 2026-01 | −$560.68K |
CALEX Debt Constituents
No individual debt constituents are reported in Cutler Equity Fund's latest SEC N-PORT filing.
CALEX Prospectus and SEC Filings
Official Cutler Equity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-10-27
- Prospectus (485BPOS) — filed 2024-10-25
- Prospectus (485BPOS) — filed 2023-10-27
- Portfolio holdings (N-PORT) — filed 2026-08-17
- Portfolio holdings (N-PORT) — filed 2026-05-29
- Portfolio holdings (N-PORT) — filed 2026-02-27
- Annual census (N-CEN) — filed 2026-09-11
- Annual census (N-CEN) — filed 2025-09-12
Related Funds
Other United States Large Cap Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.