Cullen Capital Management’s State Street Utilities Select Sector SPDR ETF XLU Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	–	Sell	-21,872	Closed	-$934K	–	241
2025 Q4	$934K	Buy	+21,872	New	+$969K	0.01%	141
2025 Q3	–	Sell	-21,496	Closed	-$878K	–	225
2025 Q2	$878K	Buy	+21,496	New	+$856K	0.01%	130
2025 Q1	–	Sell	-37,166	Closed	-$1.41M	–	222
2024 Q4	$1.41M	Buy	+37,166	New	+$1.47M	0.02%	122
2024 Q3	–	Sell	-15,306	Closed	-$521K	–	223
2024 Q2	$521K	Buy	+15,306	New	+$526K	0.01%	151
2024 Q1	–	Sell	-461,998	Closed	-$14.6M	–	229
2023 Q4	$14.6M	Buy	461,998 +434,844	+1,601%	+$13.3M	0.22%	71
2023 Q3	$800K	Sell	27,154 -327,934	-92%	-$10.6M	0.01%	116
2023 Q2	$11.6M	Buy	+355,088	New	+$12M	0.1%	109
2023 Q1	–	Sell	-26,540	Closed	-$936K	–	297
2022 Q4	$936K	Buy	26,540 +4,898	+23%	+$167K	0.01%	143
2022 Q3	$709K	Buy	+21,642	New	+$793K	0.01%	203
2022 Q1	–	Sell	-60,440	Closed	-$2.16M	–	298
2021 Q4	$2.16M	Buy	+60,440	New	+$2.04M	0.02%	172