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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
WPC icon
176
W.P. Carey
WPC
$15.6B
$323K ﹤0.01%
5,723
– –
GRP.U
177
DELISTED
Granite Real Estate Investment Trust
GRP.U
$320K ﹤0.01%
+5,598
New +$312K
ARTNA icon
178
Artesian Resources
ARTNA
$364M
$305K ﹤0.01%
8,208
+3,046
+59% +$111K
RLJ icon
179
RLJ Lodging Trust
RLJ
$1.67B
$296K ﹤0.01%
+25,083
New +$295K
PFSI icon
180
PennyMac Financial
PFSI
$3.54B
$290K ﹤0.01%
+3,182
New +$278K
WU icon
181
Western Union
WU
$2.14B
$280K ﹤0.01%
20,042
-561
-3% -$7.23K
STX icon
182
Seagate
STX
$176B
$270K ﹤0.01%
2,901
-4,410
-60% -$388K
ENB icon
183
Enbridge
ENB
$106B
$267K ﹤0.01%
7,380
+1,550
+27% +$55K
VLTO icon
184
Veralto
VLTO
$23.3B
$266K ﹤0.01%
+3,005
New +$249K
PCH
185
DELISTED
PotlatchDeltic
PCH
$251K ﹤0.01%
5,346
– –
MSEX icon
186
Middlesex Water
MSEX
$1.05B
$245K ﹤0.01%
+4,674
New +$259K
FELE icon
187
Franklin Electric
FELE
$4.24B
$232K ﹤0.01%
+2,169
New +$214K
XLP icon
188
State Street Consumer Staples Select Sector SPDR ETF
XLP
$14.4B
$230K ﹤0.01%
3,015
-412,604
-99% -$30.5M
XLI icon
189
State Street Industrial Select Sector SPDR ETF
XLI
$30.6B
$216K ﹤0.01%
1,718
-211,222
-99% -$24.9M
UIS icon
190
Unisys
UIS
$183M
$216K ﹤0.01%
44,023
-44,279
-50% -$269K
STN icon
191
Stantec
STN
$7.94B
$214K ﹤0.01%
+2,580
New +$212K
CWCO icon
192
Consolidated Water Co
CWCO
$451M
$212K ﹤0.01%
+7,228
New +$222K
VGR
193
DELISTED
Vector Group Ltd.
VGR
$211K ﹤0.01%
19,234
-14,817
-44% -$161K
SUZ icon
194
Suzano
SUZ
$11.4B
$210K ﹤0.01%
16,465
– –
XLRE icon
195
State Street Real Estate Select Sector SPDR ETF
XLRE
$8B
$209K ﹤0.01%
5,294
-469,478
-99% -$18.3M
SBS icon
196
Sabesp
SBS
$18.4B
$171K ﹤0.01%
52,282
-3,692
-7% -$11.3K
DOUG icon
197
Douglas Elliman
DOUG
$153M
$160K ﹤0.01%
101,320
-156,666
-61% -$321K
ACWX icon
198
iShares MSCI ACWI ex US ETF
ACWX
$12.3B
– –
-302,800
Closed -$15.5M
AMGN icon
199
Amgen
AMGN
$203B
– –
-930
Closed -$268K
BAP icon
200
Credicorp
BAP
$29.6B
– –
-5,258
Closed -$788K
6 7
8
9 10

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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.