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Cullen Capital Management, LLC — 13F Holdings & Portfolio

CIK 1362535 · latest 13F-HR filed 2026-05-15

Backtest portfolio

Cullen Capital Management, LLC manages $9.75B in 13F-reported U.S. long-equity assets across 213 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are NVS (3.19%), CSCO (2.90%), JNJ (2.79%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 19 new positions, exited 31, added to 90, and trimmed 70.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM

$9.75B

Long-equity book

Holdings

213

Distinct positions

Period

2026-03-31

Filed 2026-05-15

Q/Q Activity

+19 / −31 / ↑90 / ↓70

vs 2025-12-31

Firm Profile & Key People
Name Title / Status Ownership Type

Top Adds (vs prior quarter)

  • Comcast Corp. (Cl A)$80.9M +65.1%
  • ConocoPhillips$56.4M +31.5%
  • Dow Inc$54.0M +102.3%
  • United Parcel Service Inc.$52.4M +48.9%
  • State Street SPDR Bloomberg 1-$51.9M +5034.5%
Show all 90 →

Top Trims

  • State Street Communication Ser-$57.1M -98.9%
  • State Street Industrial Select-$36.1M -97.8%
  • State Street Consumer Staples-$34.9M -97.3%
  • JP Morgan Chase & Co.-$33.4M -12.3%
  • Bank of America Corp.-$32.6M -11.5%
Show all 70 →

New Positions

  • Restaurant Brands Internationa$81.7M
  • Power Corporation of Canada$41.7M
  • ORIX Corp. (ADR)$32.4M
  • iShares MSCI Chile ETF$3.3M
  • Zoetis Inc.$1.1M
Show all 19 →

Exited Positions

  • PACCAR Inc.$57.5M
  • State Street Materials Select$28.4M
  • State Street Energy Select Sec$9.1M
  • Alibaba Group Holding Ltd. (ADR)$6.2M
  • iShares Select Dividend ETF$3.0M
Show all 31 →
All Holdings

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 Novartis AG (ADR) NVS 66987V109 $311.3M 3.19% 2,037,962 SH
2 Cisco Systems Inc. CSCO 17275R102 $282.9M 2.90% 3,645,540 SH
3 Johnson & Johnson JNJ 478160104 $272.5M 2.79% 1,114,929 SH
4 Exxon Mobil Corp. XOM 30231G102 $254.4M 2.61% 1,499,613 SH
5 Bank of America Corp. BAC 060505104 $251.8M 2.58% 5,164,917 SH
6 Duke Energy Corp. DUK 26441C204 $251.6M 2.58% 1,921,458 SH
7 Citigroup Inc. C 172967424 $251.6M 2.58% 2,218,190 SH
8 Merck & Co. Inc. MRK 58933Y105 $249.4M 2.56% 2,073,354 SH
9 JP Morgan Chase & Co. JPM 46625H100 $237.9M 2.44% 808,648 SH
10 Morgan Stanley MS 617446448 $235.9M 2.42% 1,433,565 SH
11 ConocoPhillips COP 20825C104 $235.7M 2.42% 1,785,399 SH
12 General Dynamics Corp. GD 369550108 $231.1M 2.37% 673,189 SH
13 Medtronic PLC MDT G5960L103 $228.0M 2.34% 2,630,944 SH
14 NextEra Energy Inc. NEE 65339F101 $225.4M 2.31% 2,427,317 SH
15 RTX Corp RTX 75513E101 $222.2M 2.28% 1,152,069 SH
16 Johnson Controls International JCI G51502105 $221.4M 2.27% 1,690,728 SH
17 Chubb Ltd. CB H1467J104 $219.7M 2.25% 674,033 SH
18 Comcast Corp. (Cl A) CMCSA 20030N101 $205.3M 2.10% 7,149,769 SH
19 Truist Financial Corp TFC 89832Q109 $204.8M 2.10% 4,454,809 SH
20 Philip Morris International In PM 718172109 $196.3M 2.01% 1,187,104 SH
21 Vici Properties Inc. VICI 925652109 $185.5M 1.90% 6,788,489 SH
22 Chevron Corp. CVX 166764100 $181.3M 1.86% 876,053 SH
23 Healthpeak Properties Inc DOC 42250P103 $180.6M 1.85% 10,991,301 SH
24 AT&T Inc. T 00206R102 $165.7M 1.70% 5,714,670 SH
25 Genuine Parts Co. GPC 372460105 $165.5M 1.70% 1,564,620 SH
26 Broadcom Ltd. AVGO 11135F101 $165.2M 1.69% 533,686 SH
27 United Parcel Service Inc. UPS 911312106 $159.7M 1.64% 1,623,438 SH
28 Altria Group Inc. MO 02209S103 $156.7M 1.61% 2,374,542 SH
29 Unilever PLC (ADR) UL 904767803 $150.8M 1.55% 2,647,695 SH
30 BCE Inc. BCE 05534B760 $150.6M 1.54% 5,966,886 SH
31 Lowe's Companies Inc. LOW 548661107 $145.2M 1.49% 614,677 SH
32 The Travelers Companies Inc. TRV 89417E109 $140.8M 1.44% 482,691 SH
33 Target Corp. TGT 87612E106 $137.5M 1.41% 1,134,244 SH
34 UnitedHealth Group Inc. UNH 91324P102 $127.9M 1.31% 472,736 SH
35 Qualcomm Inc. QCOM 747525103 $115.5M 1.18% 897,217 SH
36 Becton Dickinson & Co. BDX 075887109 $114.6M 1.18% 729,161 SH
37 Dow Inc DOW 260557103 $106.8M 1.09% 2,563,614 SH
38 Crown Castle Inc. CCI 22822V101 $96.6M 0.99% 1,188,440 SH
39 Omnicom Group Inc. OMC 681919106 $87.7M 0.90% 1,164,690 SH
40 ASE Technology Holding Company (ADR) ASX 00215W100 $87.0M 0.89% 4,011,499 SH
41 Restaurant Brands Internationa QSR 76131D103 $81.7M 0.84% 1,105,654 SH
42 British American Tobacco PLC (ADR) BTI 110448107 $78.6M 0.81% 1,343,678 SH
43 Pfizer Inc. PFE 717081103 $75.6M 0.78% 2,693,507 SH
44 Microsoft Corp. MSFT 594918104 $74.6M 0.77% 201,639 SH
45 Diageo PLC (ADR) DEO 25243Q205 $71.8M 0.74% 964,223 SH
46 EOG Resources Inc. EOG 26875P101 $70.5M 0.72% 487,665 SH
47 Bristol-Myers Squibb Co. BMY 110122108 $67.9M 0.70% 1,119,669 SH
48 National Grid PLC (ADR) NGG 636274409 $67.2M 0.69% 794,204 SH
49 Taiwan Semiconductor Manufacturing (ADR) TSM 874039100 $64.8M 0.66% 191,617 SH
50 Toyota Motor Corp. (ADR) TM 892331307 $64.4M 0.66% 312,605 SH
Filing History
Period Filed AUM Holdings Accession
2026-03-31 2026-05-15 $9.75B 213 0001193125-26-225525
2025-12-31 2026-02-13 $9.16B 225 0001193125-26-049837
2025-09-30 2025-11-05 $9.14B 217 0001193125-25-265864