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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
-0.82%
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
$10.9B
AUM Growth
+$3.14B
Cap. Flow
+$3.5B
Cap. Flow %
32.01%
Top 10 Hldgs %
25.12%
Holding
301
New
100
Increased
125
Reduced
36
Closed
26

Top Buys

Rank Stock Value
1
KTB icon
Kontoor Brands
KTB
+$280M
2
MDT icon
Medtronic
MDT
+$246M
3
CB icon
Chubb
CB
+$230M
4
JCI icon
Johnson Controls International
JCI
+$217M
5
CMCSA icon
Comcast
CMCSA
+$84M

Top Sells

Rank Stock Value
1
MMM icon
3M
MMM
+$70M
2
TM icon
Toyota
TM
+$21M
3
XLF icon
State Street Financial Select Sector SPDR ETF
XLF
+$15.9M
4
SHEL icon
Shell
SHEL
+$15.5M
5
XLC icon
State Street Communication Services Select Sector SPDR ETF
XLC
+$14.1M

Sector Composition

Rank Sector Weight
1 Miscellaneous 13.57%
2 Healthcare 12.63%
3 Financials 12.57%
4 Consumer Staples 11.33%
5 Industrials 10.95%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ALL icon
51
Allstate
ALL
$65B
$43.1M 0.39%
388,723
+118,064
+44% +$14.9M
DT
52
DELISTED
DEUTSCHE TELEKOM AG ADS (1ORD)
DT
$42.8M 0.39%
1,768,506
+1,104
+0.1% +$26.7K
BTI icon
53
British American Tobacco
BTI
$122B
$42M 0.38%
1,196,020
+169,112
+16% +$6.38M
VE
54
DELISTED
VEOLIA ENVIRONNEMENT
VE
$41.8M 0.38%
1,353,804
+522,816
+63% +$16.1M
SHEL icon
55
Shell
SHEL
$283B
$41.4M 0.38%
719,991
-263,938
-27% -$15.5M
SNY icon
56
Sanofi
SNY
$102B
$41.3M 0.38%
759,157
+207,589
+38% +$10.1M
VALE icon
57
Vale
VALE
$61.6B
$37.2M 0.34%
2,360,218
-761,959
-24% -$12.9M
QCOM icon
58
Qualcomm
QCOM
$201B
$36.4M 0.33%
+285,657
New +$35.5M
ASX icon
59
ASE Group
ASX
$96.6B
$35.1M 0.32%
4,405,340
-151,877
-3% -$1.11M
TSM icon
60
TSMC
TSM
$2.15T
$31.4M 0.29%
337,157
+219,902
+188% +$19.7M
WDS icon
61
Woodside Energy
WDS
$45.6B
$28.8M 0.26%
1,281,950
+1,269,500
+10,197% +$30.5M
TM icon
62
Toyota
TM
$231B
$23.1M 0.21%
162,854
-149,590
-48% -$21M
IBN icon
63
ICICI Bank
IBN
$102B
$17.8M 0.16%
824,031
+356,998
+76% +$7.45M
CPA icon
64
Copa Holdings
CPA
$5.13B
$14.9M 0.14%
+161,271
New +$14.6M
KTB icon
65
Kontoor Brands
KTB
$3.66B
$12.1M 0.11%
9,201,536
+5,918,353
+180% +$280M
GLDG
66
GoldMining Inc
GLDG
$217M
$10.7M 0.1%
+1,861,741
New +$2.12M
EWT icon
67
iShares MSCI Taiwan ETF
EWT
$11.6B
$9.76M 0.09%
215,306
+97,441
+83% +$4.31M
SQM icon
68
Sociedad Química y Minera de Chile
SQM
$19.8B
$8.96M 0.08%
+110,564
New +$9.52M
INDA icon
69
iShares MSCI India ETF
INDA
$6.45B
$7.96M 0.07%
202,210
+3,753
+2% +$151K
EWY icon
70
iShares MSCI South Korea ETF
EWY
$27B
$7.59M 0.07%
123,924
+7,202
+6% +$438K
ORCL icon
71
Oracle
ORCL
$404B
$5.78M 0.05%
62,182
+22,771
+58% +$2M
MDLZ icon
72
Mondelez International
MDLZ
$79.3B
$5.49M 0.05%
78,773
+26,740
+51% +$1.77M
ET icon
73
Energy Transfer Partners
ET
$73.4B
$5.17M 0.05%
414,702
-7,543
-2% -$95.3K
UNP icon
74
Union Pacific
UNP
$169B
$4.92M 0.05%
24,447
+10,528
+76% +$2.13M
AXP icon
75
American Express
AXP
$219B
$4.71M 0.04%
28,554
+13,665
+92% +$2.27M
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
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
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Cullen Capital Management's Q1 2023 Portfolio in Review

As of Q1 2023, Cullen Capital Management held 301 positions worth $10.9B, up 40% from $7.79B the previous quarter. Its ten largest holdings account for 25% of the portfolio.

Cullen Capital Management deployed $3.5B of net new capital in Q1 2023, opening 100 new positions and adding to 125 existing holdings. Its largest new stake was Medtronic: 3,018,873 shares worth $243M.

By sector, the portfolio is most concentrated in Miscellaneous at 14% of assets, up from 13% a quarter earlier, followed by Healthcare and Financials.

On the sell side, the largest reduction was 3M, an estimated $70M trimmed.

  • Cullen Capital Management's largest Q1 2023 buy was Medtronic: 3,018,873 shares worth $243M.
  • Cullen Capital Management added most to Kontoor Brands in Q1 2023, an estimated $280M increase.
  • Cullen Capital Management's biggest Q1 2023 reduction was 3M, cutting an estimated $70M.
  • Cullen Capital Management fully exited State Street Financial Select Sector SPDR ETF in Q1 2023, selling an estimated $15.9M.
  • Cullen Capital Management's ten largest holdings make up 25% of its $10.9B portfolio in Q1 2023.
  • Cullen Capital Management opened 100 new positions and closed 26 in Q1 2023.
  • Cullen Capital Management's portfolio value rose 40% quarter-over-quarter to $10.9B.

Based on Cullen Capital Management's 13F filing for Q1 2023, filed 15 May 2023.