CULLINAN ASSOCIATES INC

CIK

1161670

Location

LOUISVILLE, KY

Portfolio Value

Mid $1,202,434,180

Diversification

Diversified

Filing Date

Global Rank

#1,745 / 8,618 ▼ 131

Top Industry

Consumer Electronics 9.5%

3Y Alpha vs SPY

+14.3%

Period ended 50 days ago

Filed Jul 29, 2026 · 21d

26 quarters · since Mar 2020

Clone Performance

Aug 2023–Aug 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+146.1%

SPY

+75.8%

Annualised alpha

+14.3%

Max drawdown

−18.3%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. Returns use comparable raw closes and exclude dividends; a captured split can shorten the simulated window. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

186 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

9.2%

+0.8 pts

Top 5

29.0%

−1.2 pts

Top 10

42.7%

−1.8 pts

HHI

282

Diversified−6

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Technology	31.3%	$376,090,214	37
Financial Services	15.1%	$181,499,771	31
Consumer Defensive	13.9%	$167,481,674	11
Healthcare	11.5%	$137,911,414	25
Industrials	7.7%	$93,169,270	31
Consumer Cyclical	7.3%	$87,485,543	13
Communication Services	5.4%	$64,386,185	11
Unclassified	3.3%	$39,433,772	2
Energy	1.9%	$22,740,274	11
Utilities	1.5%	$18,339,471	6
Basic Materials	0.8%	$9,854,596	5
Real Estate	0.3%	$4,041,996	3

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
KLAC	Kla Corp	+52,452	59,643	$17,994,889
NVDA	Nvidia Corp	+31,559	90,984	$18,204,988
JPM	Jpmorgan Chase & Co	+9,005	73,638	$24,103,926
AMZN	Amazon Com Inc	+8,500	126,253	$30,091,140
ECL	Ecolab Inc.	+6,653	28,979	$8,073,839
DUK	Duke Energy CORP	+6,265	36,953	$4,677,510
PFE	Pfizer Inc	+5,200	51,301	$1,235,328
V	Visa Inc.	+4,030	31,575	$10,833,066
WMT	Walmart Inc.	+867	143,088	$16,206,146
TSLA	Tesla, Inc.	+700	3,800	$1,598,280
NYT	New York Times Co	+695	103,367	$7,233,622
META	Meta Platforms, Inc.	+638	20,521	$11,559,274
ACN	Accenture plc	+632	3,137	$390,368
TJX	Tjx Companies Inc /De/	+544	51,825	$7,851,487
HPQ	Hp Inc	+540	189,327	$4,153,834
BSX	Boston Scientific Corp	+500	24,299	$1,037,081
HD	Home Depot, Inc.	+428	27,706	$9,771,352
SPY	Spdr S&P 500 ETF Trust	+395	51,583	$38,520,636
AVGO	Broadcom Inc.	+204	11,976	$4,523,934
MSI	Motorola Solutions, Inc.	+135	650	$269,938
PSX	Phillips 66	+123	9,762	$1,650,266
NEE	Nextera Energy Inc	+110	21,445	$1,882,227
VZ	Verizon Communications Inc	+101	12,701	$537,760
RTX	RTX Corp	+100	15,558	$2,951,819
PEP	Pepsico Inc	+78	32,121	$4,349,183
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
KO	Coca Cola Co	−180,007	1,132,980	$92,077,284
GOOGL	Alphabet Inc.	−115,794	84,174	$30,081,262
UPS	United Parcel Service Inc	−47,862	44,927	$4,829,652
PYPL	PayPal Holdings, Inc.	−28,747	82,073	$3,543,912
AAPL	Apple Inc.	−18,761	382,145	$110,577,477
MSFT	Microsoft Corp	−16,758	139,649	$52,091,869
BAC	Bank Of America Corp /De/	−11,956	134,769	$7,679,137
ABNB	Airbnb, Inc.	−9,802	43,820	$6,270,642
CVX	Chevron Corp	−8,883	71,525	$11,855,984
MCD	Mcdonalds Corp	−8,028	48,623	$13,143,283
OKTA	Okta, Inc.	−7,500	20,800	$2,838,160
IBM	International Business Machines Corp	−6,495	90,150	$25,351,081
JNJ	Johnson & Johnson	−6,010	177,028	$44,959,801
DIS	Walt Disney Co	−5,715	77,267	$7,436,948
FAST	Fastenal Co	−5,494	117,702	$5,653,227
TEAM	Atlassian Corp	−5,358	3,700	$287,823
ORCL	Oracle Corp	−5,329	80,480	$11,794,344
AMAT	Applied Materials Inc /De	−5,024	46,437	$33,573,951
CVS	CVS HEALTH Corp	−4,807	46,424	$4,802,562
INTC	Intel Corp	−4,700	52,789	$7,370,928
ABBV	AbbVie Inc.	−4,655	68,800	$17,312,832
TXN	Texas Instruments Inc	−4,434	62,683	$18,683,921
LOW	Lowes Companies Inc	−4,353	57,334	$12,641,573
HON	Honeywell International Inc	−4,045	4,345	$972,845
NOW	ServiceNow, Inc.	−4,000	5,000	$496,400
No positions match the current search.

New Positions

Positions the filer opened this quarter

4 positions

Ticker	Company	Shares	Value
AJG	Arthur J. Gallagher & Co.	17,500	$4,017,475
HONA	Honeywell Aerospace Inc.	4,345	$959,376
MU	Micron Technology Inc	800	$923,432
KMI	Kinder Morgan, Inc.	12,600	$402,822
No positions match the current search.

Sold Out

Positions the filer fully exited

11 positions

Ticker	Company	Shares	Value
XOM	ExxonMobil Holdings Corp	225,933	$38,331,792
LRCX	Lam Research Corp	64,500	$13,781,070
DT	Dynatrace, Inc.	54,500	$2,015,410
FSLR	First Solar, Inc.	7,500	$1,479,450
SYY	Sysco Corp	8,500	$606,305
WSM	Williams Sonoma Inc	2,700	$492,291
ZTS	Zoetis Inc.	2,500	$295,525
T	At&T Inc.	8,900	$258,011
PLTR	Palantir Technologies Inc.	1,700	$248,676
AEM	Agnico Eagle Mines Ltd	1,200	$243,576
DOW	Dow Inc.	4,908	$204,418
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

186 tracked positions · $1,202,434,180 total · filing declares 204 positions · $1,323,173,092 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 186 positions by value · page 1 of 4

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
AAPL	Apple Inc. Technology	Reduced	382,145	-18,761	$110,577,477	+8.7%	9.20%
KO	Coca Cola Co Consumer Defensive	Reduced	1,132,980	-180,007	$92,077,284	−7.8%	7.66%
MSFT	Microsoft Corp Technology	Reduced	139,649	-16,758	$52,091,869	−10.0%	4.33%
SPGI	S&P Global Inc. Financial Services	Reduced	121,500	-400	$49,482,088	−4.6%	4.12%
JNJ	Johnson & Johnson Healthcare	Reduced	177,028	-6,010	$44,959,801	+0.5%	3.74%
SPY	Spdr S&P 500 ETF Trust	Added	51,583	+395	$38,520,636	+15.7%	3.20%
AMAT	Applied Materials Inc /De Technology	Reduced	46,437	-5,024	$33,573,951	+90.9%	2.79%
PG	PROCTER & GAMBLE Co Consumer Defensive	Reduced	222,191	-3,522	$32,582,088	−0.1%	2.71%
AMZN	Amazon Com Inc Consumer Cyclical	Added	126,253	+8,500	$30,091,140	+22.7%	2.50%
GOOGL	Alphabet Inc. Communication Services	Reduced	84,174	-115,794	$30,081,262	−47.6%	2.50%
VRTX	Vertex Pharmaceuticals Inc / Ma Healthcare	Held	51,762	0	$25,711,738	+11.2%	2.14%
IBM	International Business Machines Corp Technology	Reduced	90,150	-6,495	$25,351,081	+8.2%	2.11%
JPM	Jpmorgan Chase & Co Financial Services	Added	73,638	+9,005	$24,103,926	+26.8%	2.00%
TXN	Texas Instruments Inc Technology	Reduced	62,683	-4,434	$18,683,921	+43.4%	1.55%
NVDA	Nvidia Corp Technology	Added	90,984	+31,559	$18,204,988	+75.7%	1.51%
KLAC	Kla Corp Technology	Added	59,643	+52,452	$17,994,889	+70.0%	1.50%
ABBV	AbbVie Inc. Healthcare	Reduced	68,800	-4,655	$17,312,832	+8.4%	1.44%
WMT	Walmart Inc. Consumer Defensive	Added	143,088	+867	$16,206,146	−8.3%	1.35%
AFL	Aflac Inc Financial Services	Reduced	138,006	-353	$16,181,203	+6.6%	1.35%
CAT	Caterpillar Inc Industrials	Reduced	15,128	-1,665	$16,109,807	+35.4%	1.34%
QLYS	Qualys, Inc. Technology	Held	102,800	0	$14,133,972	+56.5%	1.18%
MCD	Mcdonalds Corp Consumer Cyclical	Reduced	48,623	-8,028	$13,143,283	−25.4%	1.09%
AXP	American Express Co Financial Services	Reduced	38,796	-1,744	$13,122,747	+7.0%	1.09%
LOW	Lowes Companies Inc Consumer Cyclical	Reduced	57,334	-4,353	$12,641,573	−13.3%	1.05%
DE	Deere & Co Industrials	Reduced	19,576	-1,228	$12,417,644	+6.0%	1.03%
CVX	Chevron Corp Energy	Reduced	71,525	-8,883	$11,855,984	−28.7%	0.99%
ORCL	Oracle Corp Technology	Reduced	80,480	-5,329	$11,794,344	−6.6%	0.98%
META	Meta Platforms, Inc. Communication Services	Added	20,521	+638	$11,559,274	+1.6%	0.96%
CSCO	Cisco Systems, Inc. Technology	Reduced	97,679	-3,394	$11,473,375	+46.3%	0.95%
V	Visa Inc. Financial Services	Added	31,575	+4,030	$10,833,066	+30.1%	0.90%
SO	Southern Co Utilities	Reduced	102,972	-312	$9,855,450	−1.1%	0.82%
HD	Home Depot, Inc. Consumer Cyclical	Added	27,706	+428	$9,771,352	+8.9%	0.81%
QCOM	Qualcomm Inc/De Technology	Reduced	49,744	-3,728	$9,192,193	+33.5%	0.76%
COST	Costco Wholesale Corp /New Consumer Defensive	Reduced	9,805	-243	$9,172,283	−8.4%	0.76%
UBER	Uber Technologies, Inc Technology	Held	126,824	0	$9,151,619	+0.3%	0.76%
AMGN	Amgen Inc Healthcare	Reduced	24,288	-1,228	$8,795,170	−2.0%	0.73%
LMT	Lockheed Martin Corp Industrials	Reduced	16,616	-1,358	$8,465,187	−22.1%	0.70%
LLY	ELI LILLY & Co Healthcare	Reduced	6,866	-112	$8,235,287	+28.3%	0.68%
ECL	Ecolab Inc. Basic Materials	Added	28,979	+6,653	$8,073,839	+35.9%	0.67%
TJX	Tjx Companies Inc /De/ Consumer Cyclical	Added	51,825	+544	$7,851,487	−4.1%	0.65%
TRV	Travelers Companies, Inc. Financial Services	Reduced	23,657	-1,439	$7,809,648	+6.7%	0.65%
BAC	Bank Of America Corp /De/ Financial Services	Reduced	134,769	-11,956	$7,679,137	+7.4%	0.64%
DIS	Walt Disney Co Communication Services	Reduced	77,267	-5,715	$7,436,948	−7.0%	0.62%
INTC	Intel Corp Technology	Reduced	52,789	-4,700	$7,370,928	+190.5%	0.61%
NYT	New York Times Co Communication Services	Added	103,367	+695	$7,233,622	−15.9%	0.60%
EMR	Emerson Electric Co Industrials	Reduced	48,750	-3,147	$6,978,562	+2.6%	0.58%
GS	Goldman Sachs Group Inc Financial Services	Reduced	6,491	-1,291	$6,564,802	−0.3%	0.55%
ABNB	Airbnb, Inc. Consumer Cyclical	Reduced	43,820	-9,802	$6,270,642	−7.4%	0.52%
CME	Cme Group Inc. Financial Services	Reduced	27,897	-2,790	$6,160,494	−32.0%	0.51%
NSC	Norfolk Southern Corp Industrials	Held	19,400	0	$6,103,046	+9.6%	0.51%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.