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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
XLP icon
201
State Street Consumer Staples Select Sector SPDR ETF
XLP
$14.4B
– –
-41,785
Closed -$3.12M
XLRE icon
202
State Street Real Estate Select Sector SPDR ETF
XLRE
$8B
– –
-254,843
Closed -$9.41M
XLU icon
203
State Street Utilities Select Sector SPDR ETF
XLU
$21.5B
– –
-26,540
Closed -$936K
XLV icon
204
State Street Health Care Select Sector SPDR ETF
XLV
$43.5B
– –
-82,972
Closed -$11.3M
XLY icon
205
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
$21.1B
– –
-20,222
Closed -$1.31M
5 6 7 8
9

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WT
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SGA
Sustainable Growth Advisers Stamford, Connecticut $10.2B AUM 1.48% 1-Year Est. Return
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.