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Cullen Capital Management, LLC — 13F Holdings & Portfolio

CIK 1362535 · latest 13F-HR filed 2026-08-13

Backtest portfolio

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 and exited 18; 102 existing positions rose in reported value and 48 fell.

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
$10.17B

Long-equity book

Holdings
208

Distinct positions

Period
2026-06-30

Filed 2026-08-13

Q/Q Activity
+13 / −18 / ↑102 / ↓48

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
NVS3.1% · -0%CSCO3.0% · -30%MS2.9% · -1%JNJ2.7% · -1%C2.7% · -13%JPM2.6% · +0%MRK2.5% · -3%BAC2.4% · -16%DUK2.4% · +1%JCI2.4% · -1%GD2.4% · +0%CB2.3% · +0%TFC2.2% · +0%RTX2.1% · -0%PM2.1% · +1%NEE2.1% · -0%DOC2.1% · -11%XOM2.0% · -0%MDT2.0% · -2%AVGO2.0% · -0%UNH1.9% · +1%VICI1.8% · +3%COP1.8% · -2%UPS1.8% · +2%QCOM1.7% · +5%GPC1.6% · -10%MO1.6% · -3%UL1.6% · +4%TRV1.6% · -0%TGT1.4% · -2%CVX1.4% · -2%LOW1.4% · +3%BTI1.3% · +62%CMCSA1.3% · -26%QSR1.3% · +60%BDX1.2% · +13%T1.2% · +0%MSFT1.1% · +45%BCE1.1% · -17%ASX0.9% · -48%CPA0.9% · +38%TSM0.8% · -6%OMC0.8% · +1%DEO0.8% · +6%CCI0.8% · -14%IBM0.7% · +51%TIGO0.7% · -5%NGG0.7% · +3%TM0.6% · +25%SYY0.6% · +29%BMY0.6% · +1%RIO0.6% · +4%SW0.6% · +9%EOG0.6% · -2%ENB0.6% · +2%PFE0.6% · -9%NVO0.6% · +55%TTE0.6% · +12%KDP0.5% · -4%PWCDF0.5% · new

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 26.8%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Mar 27, 2026.

Assets Under Management
$11.58B
Discretionary
$11.58B
Employees
64
Accounts
8,419
Address
645 FIFTH AVENUE
12TH FLOOR
NEW YORK, NY 10022
Phone
(212) 644-1800
Website
Name Title / Status Ownership Type
CULLEN, BROOKS, HEMINGWAY ControlVICE CHAIRMAN AND EXECUTIVE DIRECTOR
since Apr 2000
5–10%Individual
CULLEN, JAMES, PATRICK ControlOWNER, CHAIRMAN AND CEO
since Apr 2000
75% or moreIndividual
Kelly, Aiden, John ControlCHIEF COMPLIANCE OFFICER
since Jul 2022
Less than 5%Individual
O'Neil, Stephen, J ControlEXECUTIVE DIRECTOR AND CHIEF OPERATING OFFICER
since Nov 2022
Less than 5%Individual
CULLEN 2011 DESCENDANTS' TRUSTOWNER
since Apr 2011
10–25%Domestic Entity
CULLEN, BROOKS, HEMINGWAY Control
Indirect owner via CULLEN 2011 DESCENDANTS' TRUST
TRUSTEE - CULLEN 2011 DESCENDANTS' TRUST
since Apr 2011
General partner, trustee or managerIndividual
O'Neil, Stephen, J Control
Indirect owner via CULLEN 2011 DESCENDANTS' TRUST
TRUSTEE - CULLEN 2011 DESCENDANT'S TRUST
since Oct 2023
General partner, trustee or managerIndividual
Ownership & leadership changes · 7 filings with changes since Apr 2, 2012

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Mar 28, 2024 filing
  • No longer listedBATTAGLIA, JEFFREY · TRUSTEE - CULLEN 2011 DESCENDANTS' TRUST · General partner, trustee or manager · indirect via CULLEN 2011 DESCENDANTS' TRUST · control person · listed since Apr 2011
  • AddedO'Neil, Stephen, J · TRUSTEE - CULLEN 2011 DESCENDANT'S TRUST · General partner, trustee or manager · indirect via CULLEN 2011 DESCENDANTS' TRUST · control person
Nov 7, 2022 filing
  • No longer listedBATTAGLIA, JEFFREY · EXECUTIVE DIRECTOR AND CHIEF OPERATING OFFICER · Less than 5% · control person · listed since Dec 2014
  • AddedO'Neil, Stephen, J · EXECUTIVE DIRECTOR AND CHIEF OPERATING OFFICER · Less than 5% · control person
Jul 22, 2022 filing
  • No longer listedMULLOOLY, STEVEN, MICHAEL · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Aug 2006
  • AddedKelly, Aiden, John · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
Mar 30, 2021 filing
  • ChangedCULLEN, JAMES, PATRICK · title CHAIRMAN AND CEO → OWNER, CHAIRMAN AND CEO
Jul 17, 2015 filing
  • AddedBATTAGLIA, JEFFREY · TRUSTEE - CULLEN 2011 DESCENDANTS' TRUST · General partner, trustee or manager · indirect via CULLEN 2011 DESCENDANTS' TRUST · control person
  • AddedCULLEN, BROOKS, HEMINGWAY · TRUSTEE - CULLEN 2011 DESCENDANTS' TRUST · General partner, trustee or manager · indirect via CULLEN 2011 DESCENDANTS' TRUST · control person
  • ChangedBATTAGLIA, JEFFREY · title CHIEF OPERATING OFFICER → EXECUTIVE DIRECTOR AND CHIEF OPERATING OFFICER
  • ChangedCULLEN, BROOKS, HEMINGWAY · title VICE PRESIDENT → VICE CHAIRMAN AND EXECUTIVE DIRECTOR
  • ChangedCULLEN, JAMES, PATRICK · title PRESIDENT → CHAIRMAN AND CEO
Apr 1, 2015 filing
  • ChangedBATTAGLIA, JEFFREY · title CHIEF FINANCIAL OFFICER → CHIEF OPERATING OFFICER
Apr 21, 2014 filing
  • No longer listedGOULD, JOHN · EXECUTIVE VICE PRESIDENT · 5–10% · control person · listed since Apr 2000
Apr 2, 2012 filing (earliest on record)
  • ListedBATTAGLIA, JEFFREY · CHIEF FINANCIAL OFFICER · Less than 5% · control person
  • ListedCULLEN 2011 DESCENDANTS' TRUST · OWNER · 10–25%
  • ListedCULLEN, BROOKS, HEMINGWAY · VICE PRESIDENT · 5–10% · control person
  • ListedCULLEN, JAMES, PATRICK · PRESIDENT · 75% or more · control person
  • ListedGOULD, JOHN · EXECUTIVE VICE PRESIDENT · 5–10% · control person
  • ListedMULLOOLY, STEVEN, MICHAEL · CHIEF COMPLIANCE OFFICER · Less than 5% · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Cullen Capital Management, LLC Holdings (2026-06-30)

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
Filing History
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
Filer Information
Address
645 FIFTH AVE
NEW YORK, NY 10022
Phone
(212) 644-1800
Filing Manager
Cullen Capital Management, LLC
New York, NY
Signatory
Aiden Kelly
CCO