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CCM

Cullen Capital Management Portfolio holdings

AUM $10.2B
1-Year Est. Return 27.15%
This Fund
S&P 500
This Quarter Est. Return
+8.36%
1 Year Est. Return
+27.15%
3 Year Est. Return
+59.97%
5 Year Est. Return
+68.85%
10 Year Est. Return
+175.49%
AUM
$6.74B
AUM Growth
-$1.82B
Cap. Flow
-$2.29B
Cap. Flow %
-33.96%
Top 10 Hldgs %
27.55%
Holding
235
New
30
Increased
39
Reduced
127
Closed
23

Top Buys

Rank Stock Value
1
O icon
Realty Income
O
+$51.3M
2
CCI icon
Crown Castle
CCI
+$28.9M
3
XLV icon
State Street Health Care Select Sector SPDR ETF
XLV
+$28M
4
XLP icon
State Street Consumer Staples Select Sector SPDR ETF
XLP
+$27.3M
5
EFA icon
iShares MSCI EAFE ETF
EFA
+$26.4M

Top Sells

Rank Stock Value
1
AVGO icon
Broadcom
AVGO
+$112M
2
NVS icon
Novartis
NVS
+$105M
3
C icon
Citigroup
C
+$92.4M
4
BCE icon
BCE
BCE
+$91.6M
5
JPM icon
JPMorgan Chase
JPM
+$84.4M

Sector Composition

Rank Sector Weight
1 Financials 15.97%
2 Healthcare 13.1%
3 Consumer Staples 12.63%
4 Industrials 9.5%
5 Energy 9.08%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RY icon
226
Royal Bank of Canada
RY
$283B
– –
-4,247
Closed -$371K
SHOO icon
227
Steven Madden
SHOO
$2.96B
– –
-9,608
Closed -$305K
SKM icon
228
SK Telecom
SKM
$13.7B
– –
-55,936
Closed -$1.2M
TKR icon
229
Timken Company
TKR
$8.08B
– –
-8,487
Closed -$624K
VMI icon
230
Valmont Industries
VMI
$9.14B
– –
-1,045
Closed -$251K
WEN icon
231
Wendy's
WEN
$1.42B
– –
-11,900
Closed -$243K
6 7 8 9
10

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WT
Whittier Trust South Pasadena, California $10.2B AUM 33.39% 1-Year Est. Return
SGA
Sustainable Growth Advisers Stamford, Connecticut $10.2B AUM 1.48% 1-Year Est. Return
CFB
Cullen/Frost Bankers San Antonio, Texas $10.1B AUM 29.18% 1-Year Est. Return
GIA
Gateway Investment Advisers Cincinnati, Ohio $10.1B AUM 40.26% 1-Year Est. Return
WPL
WINDACRE PARTNERSHIP LLC Houston, Texas $10.1B AUM 10.46% 1-Year Est. Return
HI
HBK Investments Dallas, Texas $10.2B AUM 67.73% 1-Year Est. Return
SOADOR
State of Alaska Department of Revenue Juneau, Alaska $10.1B AUM 42.83% 1-Year Est. Return
MOACM
Mutual of America Capital Management New York $10.3B AUM 43.46% 1-Year Est. Return

Cullen Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Cullen Capital Management held 235 positions worth $6.74B, down 21% from $8.57B the previous quarter. Its ten largest holdings account for 28% of the portfolio.

Cullen Capital Management withdrew a net $2.29B in Q4 2023, closing 23 positions and reducing 127 holdings. Its most notable exit was Boston Properties, an estimated $38.4M position sold in full.

By sector, the portfolio is most concentrated in Financials at 16% of assets, up from 16% a quarter earlier, followed by Healthcare and Consumer Staples.

Against the trend, Cullen Capital Management opened a new position in Realty Income worth $56.1M.

  • Cullen Capital Management's largest Q4 2023 buy was Realty Income: 976,598 shares worth $56.1M.
  • Cullen Capital Management added most to Crown Castle in Q4 2023, an estimated $28.9M increase.
  • Cullen Capital Management's biggest Q4 2023 reduction was Broadcom, cutting an estimated $112M.
  • Cullen Capital Management fully exited Boston Properties in Q4 2023, selling an estimated $38.4M.
  • Cullen Capital Management's ten largest holdings make up 28% of its $6.74B portfolio in Q4 2023.
  • Cullen Capital Management opened 30 new positions and closed 23 in Q4 2023.
  • Cullen Capital Management's portfolio value fell 21% quarter-over-quarter to $6.74B.

Based on Cullen Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.