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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
HBM icon
176
Hudbay
HBM
$11.2B
$158K ﹤0.01%
+30,049
New +$158K
RLJ icon
177
RLJ Lodging Trust
RLJ
$1.67B
$139K ﹤0.01%
+13,126
New +$147K
SUZ icon
178
Suzano
SUZ
$11.4B
$135K ﹤0.01%
16,465
-12,090
-42% -$108K
GWRS icon
179
Global Water Resources
GWRS
$250M
$131K ﹤0.01%
+10,558
New +$143K
SNAP icon
180
Snap
SNAP
$9.86B
$32.8K ﹤0.01%
+12,690
New +$133K
BBSI icon
181
Barrett Business Services
BBSI
$820M
– –
-13,172
Closed -$307K
BHP icon
182
BHP
BHP
$215B
– –
-24,077
Closed -$1.49M
CC icon
183
Chemours
CC
$2.21B
– –
-10,795
Closed -$331K
DGX icon
184
Quest Diagnostics
DGX
$27.3B
– –
-1,386
Closed -$217K
EFV icon
185
iShares MSCI EAFE Value ETF
EFV
$31.7B
– –
-161,802
Closed -$7.42M
ENOR icon
186
iShares MSCI Norway ETF
ENOR
$179M
– –
-59,931
Closed -$1.47M
EWJ icon
187
iShares MSCI Japan ETF
EWJ
$23.3B
– –
-27,143
Closed -$1.48M
EWL icon
188
iShares MSCI Switzerland ETF
EWL
$2.31B
– –
-43,604
Closed -$1.83M
FNDF icon
189
Schwab Fundamental International Large Company Index ETF
FNDF
$26.1B
– –
-9,133
Closed -$265K
GTE icon
190
Gran Tierra Energy
GTE
$389M
– –
-1,504
Closed -$14.9K
IWD icon
191
iShares Russell 1000 Value ETF
IWD
$82.8B
– –
-30,680
Closed -$4.65M
NSC icon
192
Norfolk Southern
NSC
$71.9B
– –
-875
Closed -$216K
RWO icon
193
State Street SPDR Dow Jones Global Real Estate ETF
RWO
$1.22B
– –
-19,784
Closed -$809K
SHG icon
194
Shinhan Financial Group
SHG
$38.8B
– –
-114,846
Closed -$3.21M
XLB icon
195
State Street Materials Select Sector SPDR ETF
XLB
$8.39B
– –
-77,142
Closed -$3M
XLE icon
196
State Street Energy Select Sector SPDR ETF
XLE
$43.3B
– –
-7,344
Closed -$321K
XLC icon
197
State Street Communication Services Select Sector SPDR ETF
XLC
$23.1B
– –
-292,961
Closed -$14.1M
XLF icon
198
State Street Financial Select Sector SPDR ETF
XLF
$54.4B
– –
-463,992
Closed -$15.9M
XLI icon
199
State Street Industrial Select Sector SPDR ETF
XLI
$30.6B
– –
-55,180
Closed -$5.42M
XLK icon
200
State Street Technology Select Sector SPDR ETF
XLK
$119B
– –
-137,718
Closed -$8.57M
5 6 7
8
9

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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
Mutual of America Capital Management New York $10.3B AUM 43.46% 1-Year Est. Return

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.