Cullen Capital Management, LLC

Registered adviser

CIK

1362535

Location

New York, NY

Portfolio Value

Large $10,111,863,791

Diversification

Diversified

Filing Date

Global Rank

#539 / 8,818 ▼ 49

Top Industry

Drug Manufacturers - General 10.7%

Period ended 4 months ago

Filed Aug 13, 2026 · 3mo

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 113128

Roster of Oct 1, 2026

Regulatory AUM

$11,577,260,992

Main clients

Individuals and high net worth (52% of AUM)

Private funds

3 funds · Hedge funds

Focus by fund count, roster of Oct 1, 2026

$23,785,336 gross assets

Registered funds advised

6 series (0 index, 0 ETFs)

$2,900,438,308 net assets· N-CEN Jun 30, 2026

LEI

635400VGWI9BVRUU9Y28

Private funds on Schedule D 7.B.(1)

As filed Mar 28, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$20,960,532 gross assets in 2 funds Hedge funds $20,960,532 (2)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$11,577,260,992	Individuals and high net worth (52%)
Apr 2025 to Mar 2026	$9,089,890,870	Individuals and high net worth (56%)
Apr 2024 to Mar 2025	$8,987,685,172	Individuals and high net worth (54%)
May 2023 to Mar 2024	$9,401,165,800	Individuals and high net worth (53%)
Apr 2023	$9,401,165,800	Individuals and high net worth (53%)
Apr 2022 to Mar 2023	$9,157,186,354	Individuals and high net worth (51%)

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Diversified active

Top 10 weight 26.9%, 57.1 effective positions, active share 83.3% against the S&P 500 as of 2026-06-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Low turnover

23.1% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 21.3 quarters (12+), a floor since 59.4% of the book was already held when coverage starts

Closest benchmark: the S&P 500 as of 2026-06-30, active share 83.3%; sector active share 34.3% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

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

Top Position

3.2%

−0.1 pts

Top 5

14.5%

+0.3 pts

Top 10

26.9%

+0.1 pts

HHI

175

Diversified−5

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Financial Services	19.2%	$1,941,487,154	29
Healthcare	15.8%	$1,598,645,815	15
Consumer Defensive	11.1%	$1,125,056,902	20
Technology	10.7%	$1,083,168,481	18
Industrials	10.7%	$1,080,062,024	30
Energy	7.9%	$797,721,000	13
Utilities	5.9%	$601,034,125	20
Communication Services	5.7%	$575,795,777	9
Consumer Cyclical	5.7%	$574,904,954	13
Real Estate	4.7%	$477,549,251	12
Basic Materials	1.6%	$163,849,483	10
Unclassified	0.9%	$92,588,825	17

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
BTI	British American Tobacco p.l.c.	+831,958	2,175,636	$134,367,279
QSR	Restaurant Brands International Inc.	+664,441	1,770,095	$128,349,588
NVO	Novo Nordisk A S	+432,600	1,224,955	$58,724,342
VZ	Verizon Communications Inc	+389,776	1,194,320	$50,567,508
AXIAY	AXIA Energia S.A.	+304,513	1,038,647	$10,968,112
VICI	Vici Properties Inc.	+181,185	6,969,674	$185,044,844
SYY	Sysco Corp	+175,768	782,576	$65,407,702
CPA	Copa Holdings, S.A.	+157,991	571,263	$88,871,384
SHEL	Shell plc	+149,430	448,464	$34,773,898
IX	Orix Corp	+140,485	1,220,846	$46,440,981
KT	Kt Corp	+115,251	378,147	$6,534,380
SW	Smurfit Westrock plc	+113,472	1,359,382	$62,885,011
PBR	Petrobras - Petroleo Brasileiro SA	+111,483	2,922,208	$47,222,881
UL	Unilever PLC	+97,665	2,745,360	$165,051,043
BDX	Becton Dickinson & Co	+95,559	824,720	$124,804,877
SBS	Companhia De Saneamento Basico Do Estado De Sao Paulo-Sabesp	+91,582	120,127	$694,334
MSFT	Microsoft Corp	+91,320	292,959	$109,279,566
IBM	International Business Machines Corp	+85,657	254,463	$71,557,540
TTE	TotalEnergies SE	+78,906	718,986	$55,908,351
TM	Toyota Motor Corp	+78,720	391,325	$65,906,956
XLC	State Street(R) Communication Services Select Sector SPDR(R) ETF	+70,492	76,370	$8,181,518
DEO	Diageo PLC	+54,085	1,018,308	$81,851,597
ITUB	Itau Unibanco Holding S.A.	+50,689	929,368	$7,592,936
XLV	State Street(R) Health Care Select Sector SPDR(R) ETF	+44,036	51,416	$8,157,662
QCOM	Qualcomm Inc	+42,384	939,601	$173,628,868
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
ASX	ASE Technology Holding Co., Ltd.	−1,920,711	2,090,788	$94,336,354
CMCSA	Comcast Corp	−1,862,569	5,287,200	$129,800,760
DOC	Healthpeak Properties, Inc.	−1,222,659	9,768,642	$209,048,938
CSCO	Cisco Systems, Inc.	−1,087,878	2,557,662	$300,422,978
BCE	Bce Inc	−991,390	4,975,496	$107,022,918
DOW	Dow Inc.	−902,744	1,660,870	$45,441,403
BAC	Bank Of America Corp	−829,099	4,335,818	$247,054,909
—		−554,963	22,099	$2,025,152
C	Citigroup Inc	−288,935	1,929,255	$270,018,529
PFE	Pfizer Inc	−246,307	2,447,200	$58,928,576
IBN	Icici Bank Ltd	−240,427	1,050,299	$30,490,179
CCI	Crown Castle Inc.	−162,070	1,026,370	$77,727,000
GPC	Genuine Parts Co	−153,612	1,411,008	$166,470,723
FHN	First Horizon Corp	−132,679	1,831,996	$46,972,377
HON	Honeywell International Inc	−106,889	106,631	$23,874,680
DOUG	Douglas Elliman Inc.	−103,936	309,289	$547,441
KDP	Keurig Dr Pepper Inc.	−63,654	1,700,621	$55,661,325
MO	Altria Group, Inc.	−62,595	2,311,947	$166,344,586
CCEP	COCA-COLA EUROPACIFIC PARTNERS plc	−59,539	304,979	$30,519,248
MRK	Merck & Co., Inc.	−56,559	2,016,795	$259,158,157
ET	Energy Transfer LP	−46,736	163,181	$3,120,021
TIGO	Millicom International Cellular SA	−42,544	785,131	$71,258,489
EFV	iShares MSCI EAFE Value ETF	−40,560	38,095	$2,916,172
PPL	PPL Corp	−39,292	1,502,353	$54,610,531
MDT	Medtronic plc	−39,046	2,591,898	$202,764,180
No positions match the current search.

New Positions

Positions the filer opened this quarter

10 positions

Ticker	Company	Shares	Value
HONA	Honeywell Aerospace Inc.	106,610	$23,569,338
KSPI	Joint Stock Co Kaspi.kz	234,294	$20,299,232
NU	Nu Holdings Ltd.	162,115	$2,165,856
DVN	Devon Energy Corp	9,969	$411,919
EWM	iShares MSCI Malaysia ETF	11,560	$311,542
XLU	State Street(R) Utilities Select Sector SPDR(R) ETF	6,250	$283,375
RY	Royal Bank Of Canada	1,215	$251,468
MAS	Masco Corp	3,003	$244,354
TEX	Terex Corp	2,896	$209,641
ERII	Energy Recovery, Inc.	18,459	$166,500
No positions match the current search.

Sold Out

Positions the filer fully exited

15 positions

Ticker	Company	Shares	Value
EEM	iShares MSCI Emerging Markets ETF	20,700	$1,175,553
FIS	Fidelity National Information Services, Inc.	22,665	$1,063,215
ACWX	iShares MSCI ACWI ex U.S. ETF	13,806	$945,296
—		14,441	$507,457
—		28,963	$492,371
WOOD	iShares Global Timber & Forestry ETF	5,430	$385,258
PSIX	Power Solutions International, Inc.	6,090	$370,759
WY	Weyerhaeuser Co	14,317	$349,764
ILF	iShares Latin America 40 ETF	9,108	$323,516
WAT	Waters Corp	1,020	$303,756
SM	SM Energy Co	8,206	$255,863
DIA	Spdr Dow Jones Industrial Average ETF Trust	520	$240,858
NOC	Northrop Grumman Corp	334	$227,868
RYN	Rayonier Inc	10,776	$222,201
SUZ	Suzano S.A.	21,440	$214,614
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

206 tracked positions · $10,111,863,791 total · filing declares 208 positions · $10,167,805,420 · 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 206 positions by value · page 1 of 5

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
NVS	Novartis AG Healthcare	Reduced	2,033,040	-4,922	$318,618,028	+2.4%	26+	before history	3.15%
CSCO	Cisco Systems, Inc. Technology	Reduced	2,557,662	-1,087,878	$300,422,978	+6.2%	26+	before history	2.97%
MS	Morgan Stanley Financial Services	Reduced	1,413,521	-20,044	$295,482,429	+25.2%	26+	before history	2.92%
JNJ	Johnson & Johnson Healthcare	Reduced	1,099,077	-15,852	$279,132,585	+2.4%	26+	before history	2.76%
C	Citigroup Inc Financial Services	Reduced	1,929,255	-288,935	$270,018,529	+7.3%	26+	before history	2.67%
JPM	Jpmorgan Chase & Co Financial Services	Added	810,780	+2,132	$265,392,617	+11.6%	26+	before history	2.62%
MRK	Merck & Co., Inc. Healthcare	Reduced	2,016,795	-56,559	$259,158,157	+3.9%	26+	before history	2.56%
BAC	Bank Of America Corp Financial Services	Reduced	4,335,818	-829,099	$247,054,909	−1.9%	26+	before history	2.44%
DUK	Duke Energy CORP Utilities	Added	1,933,412	+11,954	$244,731,290	−2.7%	26+	before history	2.42%
JCI	Johnson Controls International plc Industrials	Reduced	1,671,438	-19,290	$244,213,806	+10.3%	14	$62.72	2.42%
GD	General Dynamics Corp Industrials	Added	675,358	+2,169	$239,238,817	+3.5%	26+	before history	2.37%
CB	Chubb Ltd Financial Services	Added	674,693	+660	$229,894,892	+4.6%	14	$218.29	2.27%
TFC	Truist Financial Corp Financial Services	Added	4,473,955	+19,146	$222,892,438	+8.8%	26+	before history	2.20%
RTX	RTX Corp Industrials	Reduced	1,151,388	-681	$218,452,845	−1.7%	25	unpriced	2.16%
PM	Philip Morris International Inc. Consumer Defensive	Added	1,197,637	+10,533	$216,664,509	+10.4%	26+	before history	2.14%
NEE	Nextera Energy Inc Utilities	Reduced	2,418,915	-8,402	$212,308,169	−5.8%	26+	before history	2.10%
DOC	Healthpeak Properties, Inc. Real Estate	Reduced	9,768,642	-1,222,659	$209,048,938	+15.8%	26+	before history	2.07%
XOM	ExxonMobil Holdings Corp Energy	Reduced	1,492,052	-7,561	$203,993,349	−19.8%	26+	before history	2.02%
MDT	Medtronic plc Healthcare	Reduced	2,591,898	-39,046	$202,764,180	−11.1%	14	$83.61	2.01%
AVGO	Broadcom Inc. Technology	Reduced	532,119	-1,567	$201,007,952	+21.7%	24	$64.36	1.99%
UNH	Unitedhealth Group Inc Healthcare	Added	475,519	+2,783	$197,639,961	+54.5%	4	$308.85	1.95%
VICI	Vici Properties Inc. Real Estate	Added	6,969,674	+181,185	$185,044,844	−0.2%	21	$30.43	1.83%
COP	Conocophillips Energy	Reduced	1,748,628	-36,771	$181,787,366	−22.9%	26+	before history	1.80%
UPS	United Parcel Service Inc Industrials	Added	1,656,471	+33,033	$178,070,632	+11.5%	25	$125.79	1.76%
QCOM	Qualcomm Inc Technology	Added	939,601	+42,384	$173,628,868	+50.3%	14	$169.78	1.72%
GPC	Genuine Parts Co Consumer Cyclical	Reduced	1,411,008	-153,612	$166,470,723	+0.6%	26+	before history	1.65%
MO	Altria Group, Inc. Consumer Defensive	Reduced	2,311,947	-62,595	$166,344,586	+6.2%	26+	before history	1.65%
UL	Unilever PLC Consumer Defensive	Added	2,745,360	+97,665	$165,051,043	+9.4%	23	unpriced	1.63%
TRV	Travelers Companies, Inc. Financial Services	Reduced	480,235	-2,456	$158,535,178	+12.6%	26+	before history	1.57%
TGT	Target Corp Consumer Defensive	Reduced	1,116,467	-17,777	$145,821,754	+6.1%	26+	before history	1.44%
CVX	Chevron Corp Energy	Reduced	859,592	-16,461	$142,485,969	−21.4%	26+	before history	1.41%
LOW	Lowes Companies Inc Consumer Cyclical	Added	631,354	+16,677	$139,207,243	−4.2%	26+	before history	1.38%
BTI	British American Tobacco p.l.c. Consumer Defensive	Added	2,175,636	+831,958	$134,367,279	+71.0%	26+	before history	1.33%
CMCSA	Comcast Corp Communication Services	Reduced	5,287,200	-1,862,569	$129,800,760	−36.8%	24	unpriced	1.28%
QSR	Restaurant Brands International Inc. Consumer Cyclical	Added	1,770,095	+664,441	$128,349,588	+57.1%	2	$72.44	1.27%
BDX	Becton Dickinson & Co Healthcare	Added	824,720	+95,559	$124,804,877	+8.9%	5	$145.57	1.23%
T	At&T Inc. Communication Services	Added	5,722,075	+7,405	$118,446,952	−28.5%	26+	before history	1.17%
MSFT	Microsoft Corp Technology	Added	292,959	+91,320	$109,279,566	+46.4%	26+	before history	1.08%
BCE	Bce Inc Communication Services	Reduced	4,975,496	-991,390	$107,022,918	−28.9%	26+	before history	1.06%
ASX	ASE Technology Holding Co., Ltd. Technology	Reduced	2,090,788	-1,920,711	$94,336,354	+8.5%	26+	before history	0.93%
CPA	Copa Holdings, S.A. Industrials	Added	571,263	+157,991	$88,871,384	+89.3%	14	$121.35	0.88%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Reduced	179,777	-11,840	$85,856,101	+32.6%	26+	before history	0.85%
OMC	Omnicom Group Inc. Communication Services	Added	1,176,691	+12,001	$85,698,405	−2.3%	6	$81.84	0.85%
DEO	Diageo PLC Consumer Defensive	Added	1,018,308	+54,085	$81,851,597	+14.0%	26+	before history	0.81%
CCI	Crown Castle Inc. Real Estate	Reduced	1,026,370	-162,070	$77,727,000	−19.6%	12	$101.15	0.77%
IBM	International Business Machines Corp Technology	Added	254,463	+85,657	$71,557,540	+74.9%	19	unpriced	0.71%
TIGO	Millicom International Cellular SA Communication Services	Reduced	785,131	-42,544	$71,258,489	+14.9%	4	$48.47	0.70%
NGG	National Grid PLC Utilities	Added	815,548	+21,344	$67,584,462	+0.6%	5	$72.17	0.67%
TM	Toyota Motor Corp Consumer Cyclical	Added	391,325	+78,720	$65,906,956	+2.3%	26+	before history	0.65%
SYY	Sysco Corp Consumer Defensive	Added	782,576	+175,768	$65,407,702	+51.1%	8	$75.99	0.65%

Showing the top 50 of 206 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

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.