13FINSTITUTION · CIK 0001362535 · 2026-Q2 · filed Aug 13, 2026
Cullen Capital
CULLEN CAPITAL MANAGEMENT LLC
$10.2B
13F long value · 2026-Q2 Positions208
CategoryValue
Quarters tracked9
●#478 of 556 by 13F long value
Size rank 2/10
2NEW19ADD42×+17TRIM3NEAR EXIT
Snapshot
Cullen Capital's 13F portfolio at a glance — size, concentration and this quarter's activity.
13F long value
$10.2B
Positions
208
Top 100 long weight
98.3%
Quarters tracked
9
Latest 13F filed
Aug 13, 2026
New positions
2
Exits / near-exits
3
13F long value by quarter
Reported long equity value each quarter — fund flows plus market moves. Option notional is not included.
Top holdings — 2026-Q2
The fund's largest reported positions. The long positions shown cover 98.3% of the long value.
| Ticker | Issuer | Weight | Value | Shares | Since 2026-Q2 |
|---|---|---|---|---|---|
| NVS NOVARTIS AG | NOVARTIS AG | 3.1% | $318.6M | 2.0M | -1.9% |
| CSCO CISCO SYSTEMS, INC. | CISCO SYSTEMS, INC. | 3.0% | $300.4M | 2.6M | -4.4% |
| MS MORGAN STANLEY | MORGAN STANLEY | 2.9% | $295.5M | 1.4M | -12.2% |
| JNJ JOHNSON & JOHNSON | JOHNSON & JOHNSON | 2.7% | $279.1M | 1.1M | +5.3% |
| C CITIGROUP INC | CITIGROUP INC | 2.7% | $270.0M | 1.9M | -13.5% |
| JPM JPMORGAN CHASE & CO | JPMORGAN CHASE & CO | 2.6% | $265.4M | 810.8K | +2.7% |
| MRK Merck & Co., Inc. | Merck & Co., Inc. | 2.5% | $259.2M | 2.0M | +10.8% |
| BAC BANK OF AMERICA CORP /DE/ | BANK OF AMERICA CORP /DE/ | 2.4% | $247.1M | 4.3M | -11.3% |
| DUK Duke Energy CORP | Duke Energy CORP | 2.4% | $244.7M | 1.9M | -1.7% |
| JCI Johnson Controls International plc | Johnson Controls International plc | 2.4% | $244.2M | 1.7M | +1.0% |
| GD GENERAL DYNAMICS CORP | GENERAL DYNAMICS CORP | 2.4% | $239.2M | 675.4K | +0.8% |
| CB Chubb Ltd | Chubb Ltd | 2.3% | $229.9M | 674.7K | +4.7% |
| TFC TRUIST FINANCIAL CORP | TRUIST FINANCIAL CORP | 2.2% | $222.9M | 4.5M | -1.8% |
| RTX RTX Corp | RTX Corp | 2.1% | $218.5M | 1.2M | +4.1% |
| PM Philip Morris International Inc. | Philip Morris International Inc. | 2.1% | $216.7M | 1.2M | +12.5% |
Quarterly changes — 2026-Q2
What Cullen Capital opened, added, trimmed and exited this quarter, largest dollar moves first.
| Action | Ticker | Issuer | Prev shares | Curr shares | Change | Value Δ |
|---|---|---|---|---|---|---|
| TRIM | CMCSA TRIM COMCAST CORP | COMCAST CORP | 7.1M | 5.3M | -26.1% | -$75.5M |
| TRIM | DOW TRIM DOW INC. | DOW INC. | 2.6M | 1.7M | -35.2% | -$61.3M |
| ADD | BTI ADD British American Tobacco p.l.c. | British American Tobacco p.l.c. | 1.3M | 2.2M | +61.9% | +$55.8M |
| NEAR EXIT | BIL NEAR EXIT State Street SPDR Bloomberg 1- | State Street SPDR Bloomberg 1- | 577.1K | 22.1K | -96.2% | -$50.9M |
| ADD | QSR ADD Restaurant Brands International Inc. | Restaurant Brands International Inc. | 1.1M | 1.8M | +60.1% | +$46.6M |
| ADD | CPA ADD Copa Holdings, S.A. | Copa Holdings, S.A. | 413.3K | 571.3K | +38.2% | +$41.9M |
| ADD | MSFT ADD MICROSOFT CORP | MICROSOFT CORP | 201.6K | 293.0K | +45.3% | +$34.6M |
| ADD | IBM ADD INTERNATIONAL BUSINESS MACHINES CORP | INTERNATIONAL BUSINESS MACHINES CORP | 168.8K | 254.5K | +50.7% | +$30.6M |
| ADD | NVO ADD NOVO NORDISK A S | NOVO NORDISK A S | 792.4K | 1.2M | +54.6% | +$29.6M |
| TRIM | HON TRIM HONEYWELL INTERNATIONAL INC | HONEYWELL INTERNATIONAL INC | 213.5K | 106.6K | -50.1% | -$24.4M |
Conviction over time
Portfolio weight of the current top long holdings, quarter by quarter — rising weight = growing conviction.