13F-HR 1 form13f09q3.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 13F FORM 13F COVER PAGE Report for the Quarter Ended: Septemeber 30, 2009 Check here if Amendment [ ]; Amendment Number: This Amendment (check only one.): [ ] is a restatement. [ ] adds new holdings entries Institutional Investment Manager Filing this Report: Name: Cutler Investment Counsel, LLC Address: 3555 Lear Way Medford, OR 97504-9759 13F File number: The Institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists and tables, are considered integral parts of this form. Person signing this report on behalf of Reporting manager: Name: Carol S. Fischer Title: Chief Operating Officer Phone: 541-770-9000 Signature, Place, and Date of Signing /s/ Carol S. Fischer Medford, OR October 22, 2009 Report Type (Check only one.): [X] 13F Holdings Report. [ ] 13F Notice. [ ] 13F Combination Report. List of other Managers Reporting for this Manager: NONE I am signing this report as required by the Securities Exchange Act of 1934. FORM 13F SUMMARY PAGE REPORT SUMMARY: NUMBER OF OTHER INCLUDED MANAGERS: 0 FORM 13F INFORMATION TABLE ENTRY TOTAL: 47 FORM 13F INFORMATION TABLE VALUE TOTAL: $94,345,000 LIST OF OTHER INCLUDED MANAGERS: NO. 13F FILE NUMBER NAME FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- AMER EXPRESS COM 025816109 2929 86405 SH SOLE 85550 ARCHER-DANIELS-MID COM 039483102 2722 93145 SH SOLE 92275 AT&T INC COM 00206R102 2427 89860 SH SOLE 88970 BECTON DICKINSON COM 075887109 2066 29615 SH SOLE 29285 BRISTOL MYERS SQUIBB CO COM 110122108 2430 107905 SH SOLE 106825 CATERPILLAR INC COM 149123101 2592 50500 SH SOLE 50000 CHEVRON CORP COM 166764100 3123 44348 SH SOLE 43948 CHUBB CORP COM COM 171232101 2799 55525 SH SOLE 54975 CONOCOPHILLIPS COM 20825C104 1971 43634 SH SOLE 43204 CONSOLIDATED EDISON COM COM 209115104 3080 75225 SH SOLE 74475 DU PONT E I DE NEMOURS COM COM 263534109 2865 89135 SH SOLE 88185 EMERSON ELECTRIC COM 291011104 2463 61455 SH SOLE 60865 EXXON MOBIL CORP COM 30231G102 3607 52574 SH SOLE 52169 GYMBOREE CORP COM COM 403777105 367 7576 SH SOLE 7576 HALLIBURTON COM 406216101 2898 106875 SH SOLE 105785 HOME DEPOT, INC. COM 437076102 2231 83765 SH SOLE 82925 HONEYWELL INTL INC COM COM 438516106 2007 54035 SH SOLE 53465 HUDSON CITY BANCORP COM COM 443683107 2264 172150 SH SOLE 170460 INTEL CORP COM 458140100 2239 114424 SH SOLE 113099 INTERNATIONAL BUS MACH COM COM 459200101 3661 30610 SH SOLE 30300 JOHNSON & JOHNSON COM 478160104 2799 45973 SH SOLE 45513 KIMBERLY CLARK COM 494368103 2541 43085 SH SOLE 42675 MCGRAW-HILL COM 580645109 1650 65615 SH SOLE 65015 MONSANTO CO NEW COM COM 61166W101 1603 20717 SH SOLE 20717 NATIONAL FUEL GAS COM 636180101 3220 70285 SH SOLE 69585 NORDSTROM COM 655664100 2471 80910 SH SOLE 80120 NUCOR CORP COM COM 670346105 2569 54640 SH SOLE 54105 PEPSICO INC COM 713448108 2752 46915 SH SOLE 46475 PNC FINL SVCS GROUP COM COM 693475105 290 5960 SH SOLE 5960 PUBLIC SVC ENTERPRISE COM COM 744573106 283 8990 SH SOLE 8990 SYSCO CORP COM 871829107 2199 88510 SH SOLE 87550 TEXAS INSTRUMENTS COM 882508104 3083 130160 SH SOLE 128860 UNION PACIFIC COM 907818108 2156 36945 SH SOLE 36525 UNITED TECHNOLOGIES COM 913017109 3050 50055 SH SOLE 49595 VERIZON COMMUNICATIONS INC COM 92343V104 2554 84386 SH SOLE 83531 WYETH COM COM 983024100 576 11850 SH SOLE 11850 ALCATEL-LUCENT SPONSORED ADR ADR 013904305 54 12135 SH SOLE 12135 FIBROGEN INC B PFD PRIVATE PLA OTHER 31572Q303 0 76923 SH SOLE 76923 ISHARES TR HIGH YLD CORP OTHER 464288513 595 6885 SH SOLE 6885 VANGUARD BD INDEX FD SHORT TRM OTHER 921937827 679 8483 SH SOLE 8483 VANGUARD BD INDEX FD TOTAL BND OTHER 921937835 674 8474 SH SOLE 8474 VANGUARD INDEX FDS REIT ETF OTHER 922908553 458 11052 SH SOLE 11052 WISDOMTREE TRUST EARNING 500 F OTHER 97717W588 1525 41508 SH SOLE 41508 WISDOMTREE TRUST EMRG MKT HGHY OTHER 97717W315 1364 28743 SH SOLE 28743 WISDOMTREE TRUST INTL LRGCAP D OTHER 97717W794 1664 36792 SH SOLE 36792 WISDOMTREE TRUST MDCP EARN FUN OTHER 97717W570 1458 35944 SH SOLE 35944 WISDOMTREE TRUST SMLCAP EARN F OTHER 97717W562 1336 33219 SH SOLE 33219