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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
EWT icon
76
iShares MSCI Taiwan ETF
EWT
$11.6B
$9.52M 0.14%
206,762
-6,417
-3% -$298K
PBR icon
77
Petrobras
PBR
$140B
$9.4M 0.14%
588,478
+49,118
+9% +$752K
EWY icon
78
iShares MSCI South Korea ETF
EWY
$27B
$8.89M 0.13%
135,678
-4,016
-3% -$244K
CPA icon
79
Copa Holdings
CPA
$5.13B
$8.7M 0.13%
81,816
-88,718
-52% -$8.11M
ITUB icon
80
Itaú Unibanco
ITUB
$91B
$7.85M 0.12%
1,278,963
+405,687
+46% +$2.15M
XLK icon
81
State Street Technology Select Sector SPDR ETF
XLK
$119B
$6.97M 0.1%
+72,374
New +$6.44M
XLB icon
82
State Street Materials Select Sector SPDR ETF
XLB
$8.39B
$6.88M 0.1%
+160,926
New +$6.43M
XLE icon
83
State Street Energy Select Sector SPDR ETF
XLE
$43.3B
$5.58M 0.08%
+133,196
New +$5.7M
ET icon
84
Energy Transfer Partners
ET
$73.4B
$4.82M 0.07%
349,149
-86,470
-20% -$1.18M
KNG icon
85
FT Vest S&P 500 Dividend Aristocrats Target Income ETF
KNG
$3.33B
$4.32M 0.06%
+83,512
New +$4.12M
DVY icon
86
iShares Select Dividend ETF
DVY
$23.4B
$4.23M 0.06%
+36,100
New +$3.97M
XLY icon
87
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
$21.1B
$4.19M 0.06%
+46,902
New +$3.88M
ORCL icon
88
Oracle
ORCL
$404B
$4.14M 0.06%
39,303
-3,589
-8% -$392K
MDLZ icon
89
Mondelez International
MDLZ
$79.3B
$4.12M 0.06%
56,846
-9,150
-14% -$627K
ETN icon
90
Eaton
ETN
$152B
$3.82M 0.06%
15,883
-2,430
-13% -$536K
EPD icon
91
Enterprise Products Partners
EPD
$83.8B
$3.81M 0.06%
144,546
-15,509
-10% -$413K
HON icon
92
Honeywell
HON
$64.5B
$3.79M 0.06%
19,170
– –
CI icon
93
Cigna
CI
$76.3B
$3.7M 0.05%
12,343
-175
-1% -$51.1K
AXP icon
94
American Express
AXP
$219B
$3.43M 0.05%
18,289
-6,048
-25% -$974K
WMT icon
95
Walmart Inc
WMT
$858B
$3.35M 0.05%
63,738
+549
+0.9% +$29K
AMAT icon
96
Applied Materials
AMAT
$334B
$3.29M 0.05%
20,295
-3,063
-13% -$450K
AXTA icon
97
Axalta
AXTA
$7.12B
$3.14M 0.05%
92,403
-5,093
-5% -$153K
ARW icon
98
Arrow Electronics
ARW
$10.8B
$2.91M 0.04%
23,794
-4,554
-16% -$544K
ALL icon
99
Allstate
ALL
$65B
$2.87M 0.04%
20,489
-430,755
-95% -$56.2M
BWA icon
100
BorgWarner
BWA
$12.7B
$2.76M 0.04%
77,070
-5,540
-7% -$198K
2 3
4
5 6

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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
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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.