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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
+8.36%
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
$6.74B
AUM Growth
-$1.82B
Cap. Flow
-$2.29B
Cap. Flow %
-33.96%
Top 10 Hldgs %
27.55%
Holding
235
New
30
Increased
39
Reduced
127
Closed
23

Top Buys

Rank Stock Value
1
O icon
Realty Income
O
+$51.3M
2
CCI icon
Crown Castle
CCI
+$28.9M
3
XLV icon
State Street Health Care Select Sector SPDR ETF
XLV
+$28M
4
XLP icon
State Street Consumer Staples Select Sector SPDR ETF
XLP
+$27.3M
5
EFA icon
iShares MSCI EAFE ETF
EFA
+$26.4M

Top Sells

Rank Stock Value
1
AVGO icon
Broadcom
AVGO
+$112M
2
NVS icon
Novartis
NVS
+$105M
3
C icon
Citigroup
C
+$92.4M
4
BCE icon
BCE
BCE
+$91.6M
5
JPM icon
JPMorgan Chase
JPM
+$84.4M

Sector Composition

Rank Sector Weight
1 Financials 15.97%
2 Healthcare 13.1%
3 Consumer Staples 12.63%
4 Industrials 9.5%
5 Energy 9.08%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JPM icon
1
JPMorgan Chase
JPM
$916B
$220M 3.26%
1,293,663
-556,740
-30% -$84.4M
MRK icon
2
Merck
MRK
$322B
$208M 3.08%
1,905,049
-546,678
-22% -$56.7M
MS icon
3
Morgan Stanley
MS
$319B
$201M 2.98%
2,156,633
-736,800
-25% -$58.9M
DUK icon
4
Duke Energy
DUK
$101B
$184M 2.74%
1,900,591
-659,016
-26% -$59.9M
CVX icon
5
Chevron
CVX
$382B
$179M 2.66%
1,200,750
-375,896
-24% -$56.9M
PM icon
6
Philip Morris
PM
$309B
$176M 2.61%
1,870,809
-690,725
-27% -$63.6M
GD icon
7
General Dynamics
GD
$103B
$176M 2.6%
676,191
-279,861
-29% -$68.3M
CSCO icon
8
Cisco
CSCO
$443B
$173M 2.56%
3,416,188
-1,208,946
-26% -$61.8M
RTX icon
9
RTX Corp
RTX
$290B
$170M 2.53%
2,025,573
-539,806
-21% -$42.7M
VICI icon
10
VICI Properties
VICI
$29.9B
$170M 2.53%
5,345,479
-1,546,860
-22% -$45.4M
CMCSA icon
11
Comcast
CMCSA
$87.3B
$170M 2.53%
3,885,617
-1,345,034
-26% -$57.6M
MDT icon
12
Medtronic
MDT
$112B
$170M 2.52%
2,060,849
-878,480
-30% -$67M
XOM icon
13
ExxonMobil
XOM
$650B
$170M 2.52%
1,696,121
-606,817
-26% -$63.8M
NVS icon
14
Novartis
NVS
$302B
$165M 2.44%
1,629,238
-1,085,571
-40% -$105M
CB icon
15
Chubb
CB
$140B
$161M 2.39%
711,972
-344,841
-33% -$75.4M
JCI icon
16
Johnson Controls International
JCI
$85.1B
$161M 2.38%
2,787,460
-781,864
-22% -$41M
DOW icon
17
Dow Inc
DOW
$22B
$151M 2.23%
2,745,282
-1,215,501
-31% -$62.1M
UL icon
18
Unilever
UL
$142B
$148M 2.19%
2,704,918
-1,265,704
-32% -$68.3M
KVUE icon
19
Kenvue
KVUE
$38B
$147M 2.19%
6,847,835
-3,507,072
-34% -$70.2M
JNJ icon
20
Johnson & Johnson
JNJ
$640B
$144M 2.13%
917,999
-449,773
-33% -$69M
BCE icon
21
BCE
BCE
$20.8B
$141M 2.09%
3,584,201
-2,365,810
-40% -$91.6M
AVGO icon
22
Broadcom
AVGO
$1.76T
$131M 1.95%
1,177,270
-1,183,750
-50% -$112M
COP icon
23
ConocoPhillips
COP
$144B
$124M 1.84%
1,069,706
-413,667
-28% -$48.4M
GPC icon
24
Genuine Parts
GPC
$17.9B
$122M 1.81%
879,995
-313,055
-26% -$42.9M
TRV icon
25
Travelers Companies
TRV
$81.1B
$122M 1.8%
638,676
-27,676
-4% -$4.79M
1
2 3 4 5

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Cullen Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Cullen Capital Management held 235 positions worth $6.74B, down 21% from $8.57B the previous quarter. Its ten largest holdings account for 28% of the portfolio.

Cullen Capital Management withdrew a net $2.29B in Q4 2023, closing 23 positions and reducing 127 holdings. Its most notable exit was Boston Properties, an estimated $38.4M position sold in full.

By sector, the portfolio is most concentrated in Financials at 16% of assets, up from 16% a quarter earlier, followed by Healthcare and Consumer Staples.

Against the trend, Cullen Capital Management opened a new position in Realty Income worth $56.1M.

  • Cullen Capital Management's largest Q4 2023 buy was Realty Income: 976,598 shares worth $56.1M.
  • Cullen Capital Management added most to Crown Castle in Q4 2023, an estimated $28.9M increase.
  • Cullen Capital Management's biggest Q4 2023 reduction was Broadcom, cutting an estimated $112M.
  • Cullen Capital Management fully exited Boston Properties in Q4 2023, selling an estimated $38.4M.
  • Cullen Capital Management's ten largest holdings make up 28% of its $6.74B portfolio in Q4 2023.
  • Cullen Capital Management opened 30 new positions and closed 23 in Q4 2023.
  • Cullen Capital Management's portfolio value fell 21% quarter-over-quarter to $6.74B.

Based on Cullen Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.