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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
+6.7%
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
$8.98B
AUM Growth
+$2.24B
Cap. Flow
+$1.76B
Cap. Flow %
19.59%
Top 10 Hldgs %
28.51%
Holding
231
New
19
Increased
101
Reduced
65
Closed
34

Top Buys

Rank Stock Value
1
NVS icon
Novartis
NVS
+$133M
2
BAC icon
Bank of America
BAC
+$105M
3
UPS icon
United Parcel Service
UPS
+$86.9M
4
CSCO icon
Cisco
CSCO
+$72.3M
5
TFC icon
Truist Financial
TFC
+$69M

Top Sells

Rank Stock Value
1
O icon
Realty Income
O
+$56.1M
2
UNP icon
Union Pacific
UNP
+$37M
3
XLV icon
State Street Health Care Select Sector SPDR ETF
XLV
+$32.6M
4
XLP icon
State Street Consumer Staples Select Sector SPDR ETF
XLP
+$30.5M
5
MRK icon
Merck
MRK
+$29.8M

Sector Composition

Rank Sector Weight
1 Financials 18.45%
2 Consumer Staples 13.48%
3 Healthcare 13.44%
4 Industrials 9.87%
5 Energy 9.69%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
K
51
DELISTED
Kellanova
K
$50.9M 0.57%
+887,685
New +$48.9M
TSM icon
52
TSMC
TSM
$2.15T
$44.5M 0.5%
327,039
-55,167
-14% -$6.85M
PBR icon
53
Petrobras
PBR
$140B
$44M 0.49%
2,893,791
+2,305,313
+392% +$37.5M
TTE icon
54
TotalEnergies
TTE
$206B
$41.5M 0.46%
602,405
+234,391
+64% +$15.4M
CCEP icon
55
Coca-Cola Europacific Partners
CCEP
$45.4B
$38.6M 0.43%
552,053
+240,360
+77% +$16.5M
IBN icon
56
ICICI Bank
IBN
$102B
$34.2M 0.38%
1,293,518
-27,657
-2% -$690K
SHEL icon
57
Shell
SHEL
$283B
$30.3M 0.34%
452,286
+170,910
+61% +$11M
TCOM icon
58
Trip.com Group
TCOM
$24.7B
$29.2M 0.33%
+662,895
New +$26.9M
BHP icon
59
BHP
BHP
$215B
$28.3M 0.32%
490,798
+208,355
+74% +$12.5M
IBM icon
60
IBM
IBM
$234B
$28M 0.31%
146,645
+140,997
+2,496% +$25.7M
BTI icon
61
British American Tobacco
BTI
$122B
$21M 0.23%
688,793
+340,429
+98% +$10.2M
SNY icon
62
Sanofi
SNY
$102B
$18.1M 0.2%
372,316
+132,737
+55% +$6.48M
EWY icon
63
iShares MSCI South Korea ETF
EWY
$27B
$13M 0.15%
194,266
+58,588
+43% +$3.72M
EPI icon
64
WisdomTree India Earnings Fund ETF
EPI
$1.95B
$10.6M 0.12%
242,945
-841
-0.3% -$36.1K
EWT icon
65
iShares MSCI Taiwan ETF
EWT
$11.6B
$9.9M 0.11%
203,331
-3,431
-2% -$159K
INDA icon
66
iShares MSCI India ETF
INDA
$6.45B
$8.83M 0.1%
171,238
-43,433
-20% -$2.19M
ITUB icon
67
Itaú Unibanco
ITUB
$91B
$7.79M 0.09%
1,272,893
-6,070
-0.5% -$36.5K
CPA icon
68
Copa Holdings
CPA
$5.13B
$6.58M 0.07%
63,181
-18,635
-23% -$1.85M
KB icon
69
KB Financial Group
KB
$45.5B
$6.07M 0.07%
+116,666
New +$5.51M
ET icon
70
Energy Transfer Partners
ET
$73.4B
$5.42M 0.06%
344,779
-4,370
-1% -$63.6K
ORCL icon
71
Oracle
ORCL
$404B
$5.03M 0.06%
40,070
+767
+2% +$87.8K
ETN icon
72
Eaton
ETN
$152B
$4.81M 0.05%
15,387
-496
-3% -$136K
AXP icon
73
American Express
AXP
$219B
$4.58M 0.05%
20,094
+1,805
+10% +$374K
CI icon
74
Cigna
CI
$76.3B
$4.4M 0.05%
12,113
-230
-2% -$75.7K
EPD icon
75
Enterprise Products Partners
EPD
$83.8B
$4.15M 0.05%
142,326
-2,220
-2% -$61K
1 2
3
4 5

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Cullen Capital Management's Q1 2024 Portfolio in Review

As of Q1 2024, Cullen Capital Management held 231 positions worth $8.98B, up 33% from $6.74B the previous quarter. Its ten largest holdings account for 29% of the portfolio.

Cullen Capital Management deployed $1.76B of net new capital in Q1 2024, opening 19 new positions and adding to 101 existing holdings. Its largest new stake was Kellanova: 887,685 shares worth $50.9M.

By sector, the portfolio is most concentrated in Financials at 18% of assets, up from 16% a quarter earlier, followed by Consumer Staples and Healthcare.

On the sell side, the largest reduction was Union Pacific, an estimated $37M trimmed.

  • Cullen Capital Management's largest Q1 2024 buy was Kellanova: 887,685 shares worth $50.9M.
  • Cullen Capital Management added most to Novartis in Q1 2024, an estimated $133M increase.
  • Cullen Capital Management's biggest Q1 2024 reduction was Union Pacific, cutting an estimated $37M.
  • Cullen Capital Management fully exited Realty Income in Q1 2024, selling an estimated $56.1M.
  • Cullen Capital Management's ten largest holdings make up 29% of its $8.98B portfolio in Q1 2024.
  • Cullen Capital Management opened 19 new positions and closed 34 in Q1 2024.
  • Cullen Capital Management's portfolio value rose 33% quarter-over-quarter to $8.98B.

Based on Cullen Capital Management's 13F filing for Q1 2024, filed 15 May 2024.