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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
KOF icon
51
Coca-Cola Femsa
KOF
$23.4B
$33.5M 0.5%
353,582
-390,706
-52% -$32.6M
IBN icon
52
ICICI Bank
IBN
$102B
$31.5M 0.47%
1,321,175
+76,965
+6% +$1.77M
XLV icon
53
State Street Health Care Select Sector SPDR ETF
XLV
$43.5B
$31.3M 0.46%
229,619
+215,167
+1,489% +$28M
XLP icon
54
State Street Consumer Staples Select Sector SPDR ETF
XLP
$14.4B
$29.9M 0.44%
415,619
+394,233
+1,843% +$27.3M
EFA icon
55
iShares MSCI EAFE ETF
EFA
$77.9B
$28.6M 0.42%
379,330
+373,723
+6,665% +$26.4M
ASX icon
56
ASE Group
ASX
$96.6B
$27M 0.4%
2,866,299
-1,485,069
-34% -$12.3M
XLF icon
57
State Street Financial Select Sector SPDR ETF
XLF
$54.4B
$25.5M 0.38%
677,969
+624,643
+1,171% +$21.6M
TTE icon
58
TotalEnergies
TTE
$206B
$24.8M 0.37%
368,014
-338,759
-48% -$22.6M
XLC icon
59
State Street Communication Services Select Sector SPDR ETF
XLC
$23.1B
$24.5M 0.36%
336,783
+315,812
+1,506% +$21.7M
XLI icon
60
State Street Industrial Select Sector SPDR ETF
XLI
$30.6B
$24.3M 0.36%
212,940
+205,894
+2,922% +$21.6M
TM icon
61
Toyota
TM
$231B
$22M 0.33%
120,195
-160,128
-57% -$29.2M
QCOM icon
62
Qualcomm
QCOM
$201B
$21.1M 0.31%
145,727
-314,217
-68% -$38.9M
IWD icon
63
iShares Russell 1000 Value ETF
IWD
$82.8B
$21M 0.31%
+127,295
New +$19.7M
CCEP icon
64
Coca-Cola Europacific Partners
CCEP
$45.4B
$20.8M 0.31%
311,693
-466,804
-60% -$28.5M
BHP icon
65
BHP
BHP
$215B
$19.3M 0.29%
+282,443
New +$17M
PNC icon
66
PNC Financial Services
PNC
$96.1B
$19.2M 0.29%
124,116
+108,339
+687% +$14M
XLRE icon
67
State Street Real Estate Select Sector SPDR ETF
XLRE
$8B
$19M 0.28%
474,772
+439,585
+1,249% +$15.8M
SHEL icon
68
Shell
SHEL
$283B
$18.5M 0.27%
281,376
-373,627
-57% -$24.5M
ACWX icon
69
iShares MSCI ACWI ex US ETF
ACWX
$12.3B
$15.5M 0.23%
302,800
+294,590
+3,588% +$14.2M
XLU icon
70
State Street Utilities Select Sector SPDR ETF
XLU
$21.5B
$14.6M 0.22%
461,998
+434,844
+1,601% +$13.3M
SNY icon
71
Sanofi
SNY
$102B
$11.9M 0.18%
239,579
-541,021
-69% -$26.5M
INDA icon
72
iShares MSCI India ETF
INDA
$6.45B
$10.5M 0.16%
214,671
-22,047
-9% -$1M
BTI icon
73
British American Tobacco
BTI
$122B
$10.2M 0.15%
348,364
-945,201
-73% -$28.8M
EPI icon
74
WisdomTree India Earnings Fund ETF
EPI
$1.95B
$10M 0.15%
+243,786
New +$9.24M
WDS icon
75
Woodside Energy
WDS
$45.6B
$9.66M 0.14%
457,888
-955,949
-68% -$20.4M
1 2
3
4 5

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SGA
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CFB
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GIA
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WPL
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HI
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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.