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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
CARR icon
201
Carrier Global
CARR
$45.8B
– –
-5,845
Closed -$336K
DEM icon
202
WisdomTree Emerging Markets High Dividend Fund
DEM
$4.19B
– –
-16,000
Closed -$651K
DVY icon
203
iShares Select Dividend ETF
DVY
$23.4B
– –
-36,100
Closed -$4.23M
DWM icon
204
WisdomTree International Equity Fund
DWM
$665M
– –
-18,600
Closed -$977K
EFA icon
205
iShares MSCI EAFE ETF
EFA
$77.9B
– –
-379,330
Closed -$28.6M
FORR icon
206
Forrester Research
FORR
$225M
– –
-12,554
Closed -$337K
ILF icon
207
iShares Latin America 40 ETF
ILF
$3.92B
– –
-16,870
Closed -$490K
IWD icon
208
iShares Russell 1000 Value ETF
IWD
$82.8B
– –
-127,295
Closed -$21M
IYR icon
209
iShares US Real Estate ETF
IYR
$4.27B
– –
-10,240
Closed -$936K
KNG icon
210
FT Vest S&P 500 Dividend Aristocrats Target Income ETF
KNG
$3.33B
– –
-83,512
Closed -$4.32M
NSC icon
211
Norfolk Southern
NSC
$71.9B
– –
-875
Closed -$207K
O icon
212
Realty Income
O
$55.6B
– –
-976,598
Closed -$56.1M
OTIS icon
213
Otis Worldwide
OTIS
$26.1B
– –
-2,646
Closed -$237K
PHIN icon
214
Phinia Inc
PHIN
$2.25B
– –
-9,477
Closed -$287K
SIMO icon
215
Silicon Motion
SIMO
$8.11B
– –
-6,092
Closed -$373K
SMP icon
216
Standard Motor Products
SMP
$839M
– –
-5,761
Closed -$229K
SQM icon
217
Sociedad Química y Minera de Chile
SQM
$19.8B
– –
-8,964
Closed -$540K
SR icon
218
Spire
SR
$4.74B
– –
-3,941
Closed -$246K
VONV icon
219
Vanguard Russell 1000 Value ETF
VONV
$22B
– –
-14,000
Closed -$1.02M
VTV icon
220
Vanguard Morningstar Value ETF
VTV
$190B
– –
-3,467
Closed -$518K
VWO icon
221
Vanguard FTSE Emerging Markets ETF
VWO
$125B
– –
-19,280
Closed -$792K
WAL icon
222
Western Alliance Bancorporation
WAL
$8.62B
– –
-8,139
Closed -$535K
WDS icon
223
Woodside Energy
WDS
$45.6B
– –
-457,888
Closed -$9.66M
WOOD icon
224
iShares Global Timber & Forestry ETF
WOOD
$267M
– –
-2,500
Closed -$203K
XLB icon
225
State Street Materials Select Sector SPDR ETF
XLB
$8.39B
– –
-160,926
Closed -$6.88M
6 7 8
9
10

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SGA
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CFB
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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 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.