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CCM
Cullen Capital Management Portfolio holdings
AUM
$9.75B
1-Year Est. Return
21.81%
This Fund
S&P 500
This Quarter
Est. Return
-0.82%
1 Year Est. Return
+21.81%
3 Year Est. Return
+48.84%
5 Year Est. Return
+62.4%
10 Year Est. Return
+166.06%
AUM
$10.9B
AUM Growth
+$3.14B
(+40%)
Cap. Flow
+$3.5B
Cap. Flow
% of AUM
32.01%
Top 10 Holdings %
Top 10 Hldgs %
25.12%
Holding
301
New
100
Increased
125
Reduced
36
Closed
26
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Kontoor Brands
KTB
|
+$280M |
| 2 |
Medtronic
MDT
|
+$246M |
| 3 |
Chubb
CB
|
+$230M |
| 4 |
Johnson Controls International
JCI
|
+$217M |
| 5 |
Comcast
CMCSA
|
+$84M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
3M
MMM
|
+$70M |
| 2 |
Toyota
TM
|
+$21M |
| 3 |
State Street Financial Select Sector SPDR ETF
XLF
|
+$15.9M |
| 4 |
Shell
SHEL
|
+$15.5M |
| 5 |
State Street Communication Services Select Sector SPDR ETF
XLC
|
+$14.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 12.63% |
| 2 | Financials | 12.57% |
| 3 | Consumer Staples | 11.33% |
| 4 | Industrials | 10.95% |
| 5 | Energy | 8.03% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Novartis
NVS
$302B
| $318M | 2.91% |
3,460,003
+672,290
| +24% | +$58.7M |
|
|
SI
2
DELISTED
SIEMENS AKTIENGESELLSCHAFT ADS
SI
| $302M | 2.76% |
3,727,567
+590,997
| +19% | +$47.8M |
|
3
Merck
MRK
$322B
| $282M | 2.58% |
2,653,244
+556,724
| +27% | +$60.1M |
|
4
BCE
BCE
$20.8B
| $275M | 2.51% |
6,134,770
+1,380,355
| +29% | +$62.4M |
|
5
JPMorgan Chase
JPM
$916B
| $270M | 2.47% |
2,071,996
+477,246
| +30% | +$65.4M |
|
6
ExxonMobil
XOM
$650B
| $269M | 2.46% |
2,452,061
+490,977
| +25% | +$54.3M |
|
7
RTX Corp
RTX
$290B
| $261M | 2.38% |
2,660,356
+638,812
| +32% | +$62.9M |
|
8
Chevron
CVX
$382B
| $257M | 2.35% |
1,575,561
+377,126
| +31% | +$63.2M |
|
9
Morgan Stanley
MS
$319B
| $256M | 2.35% |
2,918,900
+657,862
| +29% | +$61.4M |
|
10
Johnson & Johnson
JNJ
$640B
| $255M | 2.33% |
1,645,472
+406,484
| +33% | +$65.6M |
|
11
Cisco
CSCO
$443B
| $252M | 2.3% |
4,814,843
+1,597,528
| +50% | +$78M |
|
12
Philip Morris
PM
$309B
| $249M | 2.28% |
2,564,527
+745,438
| +41% | +$74.3M |
|
|
13
Medtronic
MDT
$112B
| $243M | 2.23% |
+3,018,873
| New | +$246M |
|
14
Unilever
UL
$142B
| $239M | 2.18% |
4,083,144
+1,173,626
| +40% | +$66.7M |
|
15
Duke Energy
DUK
$101B
| $238M | 2.18% |
2,470,386
+627,997
| +34% | +$62M |
|
16
Broadcom
AVGO
$1.76T
| $228M | 2.09% |
3,552,020
+352,250
| +11% | +$21.2M |
|
17
Genuine Parts
GPC
$17.9B
| $221M | 2.03% |
1,322,983
+311,119
| +31% | +$52.4M |
|
18
Dow Inc
DOW
$22B
| $220M | 2.01% |
4,007,048
+1,462,530
| +57% | +$82.3M |
|
19
VICI Properties
VICI
$29.9B
| $218M | 1.99% |
6,667,847
+1,703,029
| +34% | +$56.3M |
|
|
20
Chubb
CB
$140B
| $212M | 1.94% |
+1,093,052
| New | +$230M |
|
|
21
Johnson Controls International
JCI
$85.1B
| $205M | 1.87% |
+3,396,494
| New | +$217M |
|
|
22
Comcast
CMCSA
$87.3B
| $204M | 1.87% |
5,391,938
+2,220,919
| +70% | +$84M |
|
23
NextEra Energy
NEE
$184B
| $199M | 1.82% |
2,580,187
+528,446
| +26% | +$40.6M |
|
24
General Dynamics
GD
$103B
| $186M | 1.71% |
816,571
+254,128
| +45% | +$58.7M |
|
25
Healthpeak Properties
DOC
$15.5B
| $173M | 1.59% |
7,886,651
+2,374,949
| +43% | +$58.9M |
|
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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 Healthcare at 13% of assets, up from 12% a quarter earlier, followed by Financials and Consumer Staples.
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.