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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
BAC icon
26
Bank of America
BAC
$416B
$118M 1.75%
3,512,878
-1,819,285
-34% -$53M
DOC icon
27
Healthpeak Properties
DOC
$13.9B
$118M 1.75%
5,951,527
-2,720,502
-31% -$47.9M
INTC icon
28
Intel
INTC
$513B
$115M 1.71%
2,294,181
-935,448
-29% -$38M
TFC icon
29
Truist Financial
TFC
$61.6B
$114M 1.69%
3,088,969
-1,743,517
-36% -$54.7M
LOW icon
30
Lowe's Companies
LOW
$109B
$109M 1.62%
490,343
-194,788
-28% -$39.5M
NEE icon
31
NextEra Energy
NEE
$169B
$106M 1.57%
1,740,462
-789,109
-31% -$45M
TGT icon
32
Target
TGT
$70.1B
$97.4M 1.44%
683,760
-279,821
-29% -$34.2M
MO icon
33
Altria Group
MO
$117B
$91.3M 1.35%
2,263,566
-1,041,344
-32% -$43.1M
MSFT icon
34
Microsoft
MSFT
$3.69T
$87.3M 1.29%
232,150
-75,430
-25% -$26.8M
PFE icon
35
Pfizer
PFE
$157B
$74.2M 1.1%
2,578,344
-1,402,358
-35% -$42.4M
T icon
36
AT&T
T
$183B
$72.5M 1.08%
4,322,302
-2,635,926
-38% -$41.6M
CCI icon
37
Crown Castle
CCI
$31.2B
$70.6M 1.05%
612,660
+281,847
+85% +$28.9M
PPL
38
PPL Corp
PPL
$25B
$66.8M 0.99%
2,466,391
-253,309
-9% -$6.42M
C icon
39
Citigroup
C
$228B
$66.6M 0.99%
1,293,938
-2,086,862
-62% -$92.4M
VZ icon
40
Verizon
VZ
$214B
$65.4M 0.97%
1,734,658
-346,078
-17% -$12.2M
EOG icon
41
EOG Resources
EOG
$80.6B
$65.3M 0.97%
540,191
-38,038
-7% -$4.74M
UPS icon
42
United Parcel Service
UPS
$87.1B
$63.4M 0.94%
402,972
-397,109
-50% -$60M
DEO icon
43
Diageo
DEO
$48.3B
$59.1M 0.88%
405,666
-163,481
-29% -$24.1M
BMY icon
44
Bristol-Myers Squibb
BMY
$130B
$58.1M 0.86%
1,132,051
+80,760
+8% +$4.24M
O icon
45
Realty Income
O
$55.6B
$56.1M 0.83%
+976,598
New +$51.3M
RIO icon
46
Rio Tinto
RIO
$158B
$56M 0.83%
751,712
-326,887
-30% -$21.9M
CAG icon
47
Conagra Brands
CAG
$7.21B
$52.5M 0.78%
1,832,522
-113,741
-6% -$3.19M
BAX icon
48
Baxter International
BAX
$12.3B
$47.7M 0.71%
1,233,360
-839
-0.1% -$29.7K
TSM icon
49
TSMC
TSM
$2.15T
$39.7M 0.59%
382,206
+79,517
+26% +$7.58M
UNP icon
50
Union Pacific
UNP
$169B
$39.6M 0.59%
161,048
-11,605
-7% -$2.55M
1
2
3 4 5

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WT
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SGA
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CFB
Cullen/Frost Bankers San Antonio, Texas $10.1B AUM 29.18% 1-Year Est. Return
GIA
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WPL
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HI
HBK Investments Dallas, Texas $10.2B AUM 67.73% 1-Year Est. Return
SOADOR
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MOACM
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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.