Cullen Capital Management, LLC — 13F Holdings & Portfolio
CIK 1362535 · latest 13F-HR filed 2026-08-13
Cullen Capital Management, LLC manages $10.17B in 13F-reported U.S. long-equity assets across 208 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are NVS (3.13%), CSCO (2.95%), MS (2.91%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 13 new positions, exited 18, added to 102, and trimmed 48.
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.
$10.17B
Long-equity book
208
Distinct positions
2026-06-30
Filed 2026-08-13
+13 / −18 / ↑102 / ↓48
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
| Name | Title / Status | Ownership | Type |
|---|
Quarter-over-quarter changes
Share-count changes vs the prior 13F.
Top Adds (vs prior quarter)
- UnitedHealth Group Inc.$69.7M +54.5%
- Morgan Stanley$59.6M +25.2%
- Qualcomm Inc.$58.1M +50.3%
- British American Tobacco PLC (ADR)$55.8M +71.0%
- Restaurant Brands Internationa$46.6M +57.1%
Top Trims
- Comcast Corp. (Cl A)-$75.5M -36.8%
- Dow Inc-$61.3M -57.4%
- ConocoPhillips-$53.9M -22.9%
- State Street SPDR Bloomberg 1--$50.9M -96.2%
- AT&T Inc.-$47.2M -28.5%
New Positions
- ExxonMobil Holdings Corp.$204.0M
- Honeywell International Inc.$23.9M
- Honeywell Aerospace Inc.$23.6M
- Kaspi.kz JSC (ADR)$20.3M
- Nu Holdings$2.2M
Exited Positions
- Exxon Mobil Corp.$254.4M
- Honeywell International Inc.$48.3M
- iShares MSCI Emerging Markets$1.2M
- DuPont De Nemours Inc.$1.1M
- Fidelity National Information$1.1M
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 | $318.6M | 3.13% | 2,033,040 | SH |
| 2 | Cisco Systems Inc. | CSCO | 17275R102 | $300.4M | 2.95% | 2,557,662 | SH |
| 3 | Morgan Stanley | MS | 617446448 | $295.5M | 2.91% | 1,413,521 | SH |
| 4 | Johnson & Johnson | JNJ | 478160104 | $279.1M | 2.75% | 1,099,077 | SH |
| 5 | Citigroup Inc. | C | 172967424 | $270.0M | 2.66% | 1,929,255 | SH |
| 6 | JP Morgan Chase & Co. | JPM | 46625H100 | $265.4M | 2.61% | 810,780 | SH |
| 7 | Merck & Co. Inc. | MRK | 58933Y105 | $259.2M | 2.55% | 2,016,795 | SH |
| 8 | Bank of America Corp. | BAC | 060505104 | $247.1M | 2.43% | 4,335,818 | SH |
| 9 | Duke Energy Corp. | DUK | 26441C204 | $244.7M | 2.41% | 1,933,412 | SH |
| 10 | Johnson Controls International | JCI | G51502105 | $244.2M | 2.40% | 1,671,438 | SH |
| 11 | General Dynamics Corp. | GD | 369550108 | $239.2M | 2.35% | 675,358 | SH |
| 12 | Chubb Ltd. | CB | H1467J104 | $229.9M | 2.26% | 674,693 | SH |
| 13 | Truist Financial Corp | TFC | 89832Q109 | $222.9M | 2.19% | 4,473,955 | SH |
| 14 | RTX Corp | RTX | 75513E101 | $218.5M | 2.15% | 1,151,388 | SH |
| 15 | Philip Morris International In | PM | 718172109 | $216.7M | 2.13% | 1,197,637 | SH |
| 16 | NextEra Energy Inc. | NEE | 65339F101 | $212.3M | 2.09% | 2,418,915 | SH |
| 17 | Healthpeak Properties Inc | DOC | 42250P103 | $209.0M | 2.06% | 9,768,642 | SH |
| 18 | ExxonMobil Holdings Corp. | XOM | 30233Q108 | $204.0M | 2.01% | 1,492,052 | SH |
| 19 | Medtronic PLC | MDT | G5960L103 | $202.8M | 1.99% | 2,591,898 | SH |
| 20 | Broadcom Ltd. | AVGO | 11135F101 | $201.0M | 1.98% | 532,119 | SH |
| 21 | UnitedHealth Group Inc. | UNH | 91324P102 | $197.6M | 1.94% | 475,519 | SH |
| 22 | Vici Properties Inc. | VICI | 925652109 | $185.0M | 1.82% | 6,969,674 | SH |
| 23 | ConocoPhillips | COP | 20825C104 | $181.8M | 1.79% | 1,748,628 | SH |
| 24 | United Parcel Service Inc. | UPS | 911312106 | $178.1M | 1.75% | 1,656,471 | SH |
| 25 | Qualcomm Inc. | QCOM | 747525103 | $173.6M | 1.71% | 939,601 | SH |
| 26 | Genuine Parts Co. | GPC | 372460105 | $166.5M | 1.64% | 1,411,008 | SH |
| 27 | Altria Group Inc. | MO | 02209S103 | $166.3M | 1.64% | 2,311,947 | SH |
| 28 | Unilever PLC (ADR) | UL | 904767803 | $165.1M | 1.62% | 2,745,360 | SH |
| 29 | The Travelers Companies Inc. | TRV | 89417E109 | $158.5M | 1.56% | 480,235 | SH |
| 30 | Target Corp. | TGT | 87612E106 | $145.8M | 1.43% | 1,116,467 | SH |
| 31 | Chevron Corp. | CVX | 166764100 | $142.5M | 1.40% | 859,592 | SH |
| 32 | Lowe's Companies Inc. | LOW | 548661107 | $139.2M | 1.37% | 631,354 | SH |
| 33 | British American Tobacco PLC (ADR) | BTI | 110448107 | $134.4M | 1.32% | 2,175,636 | SH |
| 34 | Comcast Corp. (Cl A) | CMCSA | 20030N101 | $129.8M | 1.28% | 5,287,200 | SH |
| 35 | Restaurant Brands Internationa | QSR | 76131D103 | $128.3M | 1.26% | 1,770,095 | SH |
| 36 | Becton Dickinson & Co. | BDX | 075887109 | $124.8M | 1.23% | 824,720 | SH |
| 37 | AT&T Inc. | T | 00206R102 | $118.4M | 1.16% | 5,722,075 | SH |
| 38 | Microsoft Corp. | MSFT | 594918104 | $109.3M | 1.07% | 292,959 | SH |
| 39 | BCE Inc. | BCE | 05534B760 | $107.0M | 1.05% | 4,975,496 | SH |
| 40 | ASE Technology Holding Company (ADR) | ASX | 00215W100 | $94.3M | 0.93% | 2,090,788 | SH |
| 41 | Copa Holdings SA | CPA | P31076105 | $88.9M | 0.87% | 571,263 | SH |
| 42 | Taiwan Semiconductor Manufacturing (ADR) | TSM | 874039100 | $85.9M | 0.84% | 179,777 | SH |
| 43 | Omnicom Group Inc. | OMC | 681919106 | $85.7M | 0.84% | 1,176,691 | SH |
| 44 | Diageo PLC (ADR) | DEO | 25243Q205 | $81.9M | 0.81% | 1,018,308 | SH |
| 45 | Crown Castle Inc. | CCI | 22822V101 | $77.7M | 0.76% | 1,026,370 | SH |
| 46 | International Business Machine | IBM | 459200101 | $71.6M | 0.70% | 254,463 | SH |
| 47 | Millicom Intl Cellular | TIGO | L6388F110 | $71.3M | 0.70% | 785,131 | SH |
| 48 | National Grid PLC (ADR) | NGG | 636274409 | $67.6M | 0.66% | 815,548 | SH |
| 49 | Toyota Motor Corp. (ADR) | TM | 892331307 | $65.9M | 0.65% | 391,325 | SH |
| 50 | Sysco Corp. | SYY | 871829107 | $65.4M | 0.64% | 782,576 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-13 | $10.17B | 208 | 0001193125-26-349619 |
| 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 |
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