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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
-4.95%
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
$8.57B
AUM Growth
-$2.64B
(-24%)
Cap. Flow
-$2.12B
Cap. Flow
% of AUM
-24.74%
Top 10 Holdings %
Top 10 Hldgs %
29.4%
Holding
321
New
27
Increased
56
Reduced
99
Closed
116
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Kenvue
KVUE
|
+$240M |
| 2 |
Crown Castle
CCI
|
+$34.3M |
| 3 |
Union Pacific
UNP
|
+$32.4M |
| 4 |
Healthpeak Properties
DOC
|
+$21.6M |
| 5 |
Toyota
TM
|
+$19.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SI
SIEMENS AKTIENGESELLSCHAFT ADS
SI
|
+$308M |
| 2 |
Kimberly-Clark
KMB
|
+$149M |
| 3 |
NTT
Nippon Telegraph & Telephone
NTT
|
+$59.7M |
| 4 |
Broadcom
AVGO
|
+$57.2M |
| 5 |
Johnson & Johnson
JNJ
|
+$48.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 15.78% |
| 2 | Healthcare | 14.71% |
| 3 | Consumer Staples | 14.17% |
| 4 | Energy | 10.88% |
| 5 | Technology | 9.14% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Novartis
NVS
$302B
| $277M | 3.23% |
2,714,809
-81,081
| -3% | -$8.23M |
|
2
ExxonMobil
XOM
$650B
| $271M | 3.16% |
2,302,938
-126,896
| -5% | -$13.9M |
|
3
JPMorgan Chase
JPM
$916B
| $268M | 3.13% |
1,850,403
-62,470
| -3% | -$9.36M |
|
4
Chevron
CVX
$382B
| $266M | 3.1% |
1,576,646
-39,145
| -2% | -$6.32M |
|
5
Merck
MRK
$322B
| $252M | 2.95% |
2,451,727
-88,067
| -3% | -$9.49M |
|
6
Cisco
CSCO
$443B
| $249M | 2.9% |
4,625,134
-345,910
| -7% | -$18.7M |
|
7
Philip Morris
PM
$309B
| $237M | 2.77% |
2,561,534
-104,551
| -4% | -$10.1M |
|
8
Morgan Stanley
MS
$319B
| $236M | 2.76% |
2,893,433
-61,173
| -2% | -$5.31M |
|
9
Comcast
CMCSA
$87.3B
| $232M | 2.71% |
5,230,651
-127,071
| -2% | -$5.67M |
|
10
Medtronic
MDT
$112B
| $230M | 2.69% |
2,939,329
-107,821
| -4% | -$9.03M |
|
11
BCE
BCE
$20.8B
| $227M | 2.65% |
5,950,011
-192,382
| -3% | -$8.08M |
|
12
Duke Energy
DUK
$101B
| $226M | 2.64% |
2,559,607
+70,735
| +3% | +$6.49M |
|
13
Unilever
UL
$142B
| $221M | 2.58% |
3,970,622
-69,730
| -2% | -$4.03M |
|
14
Chubb
CB
$140B
| $220M | 2.57% |
1,056,813
-33,689
| -3% | -$6.81M |
|
|
15
Johnson & Johnson
JNJ
$640B
| $213M | 2.49% |
1,367,772
-295,938
| -18% | -$48.8M |
|
16
General Dynamics
GD
$103B
| $211M | 2.47% |
956,052
-22,749
| -2% | -$5.03M |
|
|
17
Kenvue
KVUE
$38B
| $208M | 2.43% |
+10,354,907
| New | +$240M |
|
18
Dow Inc
DOW
$22B
| $204M | 2.38% |
3,960,783
-41,070
| -1% | -$2.2M |
|
19
VICI Properties
VICI
$29.9B
| $201M | 2.34% |
6,892,339
-61,313
| -0.9% | -$1.9M |
|
|
20
Broadcom
AVGO
$1.76T
| $196M | 2.29% |
2,361,020
-659,500
| -22% | -$57.2M |
|
21
Johnson Controls International
JCI
$85.1B
| $190M | 2.22% |
3,569,324
+204,270
| +6% | +$12.6M |
|
22
RTX Corp
RTX
$290B
| $185M | 2.16% |
2,565,379
+11,186
| +0.4% | +$958K |
|
23
ConocoPhillips
COP
$144B
| $178M | 2.07% |
1,483,373
-113,233
| -7% | -$13.1M |
|
24
Genuine Parts
GPC
$17.9B
| $172M | 2.01% |
1,193,050
-27,764
| -2% | -$4.31M |
|
|
25
Healthpeak Properties
DOC
$15.5B
| $159M | 1.86% |
8,672,029
+1,049,648
| +14% | +$21.6M |
|
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Cullen Capital Management's Q3 2023 Portfolio in Review
As of Q3 2023, Cullen Capital Management held 321 positions worth $8.57B, down 24% from $11.2B the previous quarter. Its ten largest holdings account for 29% of the portfolio.
Cullen Capital Management withdrew a net $2.12B in Q3 2023, closing 116 positions and reducing 99 holdings. Its most notable exit was SIEMENS AKTIENGESELLSCHAFT ADS, an estimated $308M position sold in full.
By sector, the portfolio is most concentrated in Financials at 16% of assets, up from 12% a quarter earlier, followed by Healthcare and Consumer Staples.
Against the trend, Cullen Capital Management opened a new position in Kenvue worth $208M.
- Cullen Capital Management's largest Q3 2023 buy was Kenvue: 10,354,907 shares worth $208M.
- Cullen Capital Management added most to Union Pacific in Q3 2023, an estimated $32.4M increase.
- Cullen Capital Management's biggest Q3 2023 reduction was Kimberly-Clark, cutting an estimated $149M.
- Cullen Capital Management fully exited SIEMENS AKTIENGESELLSCHAFT ADS in Q3 2023, selling an estimated $308M.
- Cullen Capital Management's ten largest holdings make up 29% of its $8.57B portfolio in Q3 2023.
- Cullen Capital Management opened 27 new positions and closed 116 in Q3 2023.
- Cullen Capital Management's portfolio value fell 24% quarter-over-quarter to $8.57B.
Based on Cullen Capital Management's 13F filing for Q3 2023, filed 14 Nov 2023.