Cullen Capital Management, LLC reported 188 positions worth $10.02B for the quarter ended Jun 30, 2026, up 4.5% on the prior quarter. It opened 8 new positions, added to 74, trimmed 92 and exited 8. Its largest holding is Novartis Ag at 3.2% of the portfolio.
Reported 13F market value at each quarter end. A change mixes trading with price moves in the positions held.
Dollar value of shares bought and sold each quarter, at that quarter’s price. It counts trading only, not price changes.
How many positions were opened, added to, trimmed or closed each quarter.
Share of reported value in each sector at every quarter end.
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| BTI British American Tobacco p.l.c. | +832.0K | +61.9% | $51.38M | 1.34% |
| QSR Restaurant Brands International Inc. | +664.4K | +60.1% | $48.18M | 1.28% |
| MSFT Microsoft Corp | +91.3K | +45.3% | $34.06M | 1.09% |
| CPA Copa Holdings, S.A. | +158.0K | +38.2% | $24.58M | 0.887% |
| IBM International Business Machines Corp | +85.7K | +50.7% | $24.09M | 0.714% |
| HONA Honeywell Aerospace Inc. | +106.6K | – | $23.57M | 0.235% |
| NVO Novo Nordisk A S | +432.6K | +54.6% | $20.74M | 0.586% |
| KSPI Joint Stock Co Kaspi.kz | +234.3K | – | $20.30M | 0.203% |
| VZ Verizon Communications Inc | +389.8K | +48.4% | $16.50M | 0.505% |
| SYY Sysco Corp | +175.8K | +29.0% | $14.69M | 0.653% |
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| CSCO Cisco Systems, Inc. | -1.09M | -29.8% | $127.78M | 3% |
| ASX ASE Technology Holding Co., Ltd. | -1.92M | -47.9% | $86.66M | 0.942% |
| BAC Bank Of America Corp | -829.1K | -16.1% | $47.24M | 2.47% |
| CMCSA Comcast Corp | -1.86M | -26.1% | $45.73M | 1.3% |
| C Citigroup Inc | -288.9K | -13.0% | $40.44M | 2.7% |
| DOC Healthpeak Properties, Inc. | -1.22M | -11.1% | $26.16M | 2.09% |
| DOW Dow Inc. | -902.7K | -35.2% | $24.70M | 0.454% |
| BCE Bce Inc | -991.4K | -16.6% | $21.32M | 1.07% |
| GPC Genuine Parts Co | -153.6K | -9.8% | $18.12M | 1.66% |
| CCI Crown Castle Inc. | -162.1K | -13.6% | $12.27M | 0.776% |
| Holding | Shares | Trade Value | Weight |
|---|---|---|---|
| HONA Honeywell Aerospace Inc. | +106.6K | $23.57M | 0.235% |
| KSPI Joint Stock Co Kaspi.kz | +234.3K | $20.30M | 0.203% |
| NU Nu Holdings Ltd. | +162.1K | $2.17M | 0.022% |
| DVN Devon Energy Corp | +9,969 | $411.92K | <0.01% |
| RY Royal Bank Of Canada | +1,215 | $251.47K | <0.01% |
| MAS Masco Corp | +3,003 | $244.35K | <0.01% |
| TEX Terex Corp | +2,896 | $209.64K | <0.01% |
| ERII Energy Recovery, Inc. | +18.5K | $166.50K | <0.01% |
| Holding | Shares Sold | Trade Value | Prior Weight |
|---|---|---|---|
| FIS Fidelity National Information Services, Inc. | -22.7K | $1.06M | 0.011% |
| PSIX Power Solutions International, Inc. | -6,090 | $370.76K | <0.01% |
| WY Weyerhaeuser Co | -14.3K | $349.76K | <0.01% |
| WAT Waters Corp | -1,020 | $303.85K | <0.01% |
| SM SM Energy Co | -8,206 | $255.86K | <0.01% |
| NOC Northrop Grumman Corp | -334 | $227.87K | <0.01% |
| RYN Rayonier Inc | -10.8K | $222.20K | <0.01% |
| SUZ Suzano S.A. | -21.4K | $214.61K | <0.01% |
| # | Activity | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | NVS Novartis Ag | Healthcare | 2.03M | $318.62M | 3.18% | -4,922 | -0.2% | Reduced | 0.1% |
| 2 | CSCO Cisco Systems, Inc. | Technology | 2.56M | $300.42M | 3% | -1.09M | -29.8% | Reduced | 0.06% |
| 3 | MS Morgan Stanley | Financial Services | 1.41M | $295.48M | 2.95% | -20.0K | -1.4% | Reduced | 0.09% |
| 4 | JNJ Johnson & Johnson | Healthcare | 1.10M | $279.13M | 2.79% | -15.9K | -1.4% | Reduced | 0.05% |
| 5 | C Citigroup Inc | Others | 1.93M | $270.02M | 2.7% | -288.9K | -13.0% | Reduced | 0.11% |
| 6 | JPM Jpmorgan Chase & Co | Financial Services | 810.8K | $265.39M | 2.65% | +2,132 | +0.3% | Added | 0.03% |
| 7 | MRK Merck & Co., Inc. | Healthcare | 2.02M | $259.16M | 2.59% | -56.6K | -2.7% | Reduced | 0.08% |
| 8 | BAC Bank Of America Corp | Financial Services | 4.34M | $247.05M | 2.47% | -829.1K | -16.1% | Reduced | 0.06% |
| 9 | DUK Duke Energy CORP | Utilities | 1.93M | $244.73M | 2.44% | +12.0K | +0.6% | Added | 0.25% |
| 10 | JCI Johnson Controls International plc | Industrials | 1.67M | $244.21M | 2.44% | -19.3K | -1.1% | Reduced | 0.27% |
| 11 | GD General Dynamics Corp | Industrials | 675.4K | $239.24M | 2.39% | +2,169 | +0.3% | Added | 0.25% |
| 12 | CB Chubb Ltd | Financial Services | 674.7K | $229.89M | 2.29% | +660 | +0.1% | Added | 0.17% |
| 13 | TFC Truist Financial Corp | Financial Services | 4.47M | $222.89M | 2.23% | +19.1K | +0.4% | Added | 0.37% |
| 14 | RTX RTX Corp | Industrials | 1.15M | $218.45M | 2.18% | -681 | -0.1% | Reduced | 0.09% |
| 15 | PM Philip Morris International Inc. | Consumer Staples | 1.20M | $216.66M | 2.16% | +10.5K | +0.9% | Added | 0.08% |
Tip. Select a row to see that position’s full history at Cullen Capital Management.
As of its Q2 2026 13F filing, Cullen Capital Management, LLC’s five largest positions were Novartis Ag (NVS) at 3.2%, Cisco Systems, Inc. (CSCO) at 3.0%, Morgan Stanley (MS) at 3.0%, Johnson & Johnson (JNJ) at 2.8%, Citigroup Inc (C) at 2.7% of the reported portfolio.
Cullen Capital Management, LLC reported a 13F portfolio worth $10.02B across 188 positions for Q2 2026. That is up 4.5% from the previous quarter.
Its largest purchases by value were British American Tobacco p.l.c. ($51.38M), Restaurant Brands International Inc. ($48.18M), Microsoft Corp ($34.06M). It opened 8 new positions.
Its largest sales by value were Cisco Systems, Inc. ($127.78M), ASE Technology Holding Co., Ltd. ($86.66M), Bank Of America Corp ($47.24M). It exited 8 positions entirely.
From the Form 13F-HR reports Cullen Capital Management, LLC files with the SEC each quarter, within 45 days of quarter end. A 13F lists long positions in US-listed equities and options; it excludes short positions, cash, bonds and most non-US holdings.
13F data reflects long positions in US-listed equities and options as reported to the SEC up to 45 days after quarter end. It excludes short positions, cash, bonds and most non-US securities, so it is not a complete picture of a manager’s assets.