Q2 2026 13F · SEC CIK 1362535

Cullen Capital Management, LLC

Wealth managerFiled 2026-08-13 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $10.2B
Reported positions: 208
Top holdings a year, 3 yrs: +18.4%
Assets under management: $11.6B

Cullen Capital Management, LLC is a wealth manager that reported 208 positions worth $10.2B in its Q2 2026 13F, filed 2026-08-13. Its largest holdings were Novartis AG (NVS, 3.1%), Cisco Sys Inc (CSCO, 3.0%), Morgan Stanley (MS, 2.9%). A portfolio copying its top holdings returned 18.4% a year over the last 3 years, against 20.4% for the S&P 500.

Cullen Capital Management, LLC holdings largest 50 of 208 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Cullen Capital Management, LLC 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
NVSNovartis AG	3.1%	3.2%	2,033,040	-0.2%	$318.6M
CSCOCisco Sys Inc	3.0%	2.9%	2,557,662	-29.8%	$300.4M
MSMorgan Stanley	2.9%	2.4%	1,413,521	-1.4%	$295.5M
JNJJohnson & Johnson	2.7%	2.8%	1,099,077	-1.4%	$279.1M
CCitigroup Inc	2.7%	2.6%	1,929,255	-13.0%	$270.0M
JPMJpmorgan Chase & Co	2.6%	2.4%	810,780	+0.3%	$265.4M
MRKMerck & Co Inc	2.5%	2.6%	2,016,795	-2.7%	$259.2M
BACBank of Amer Corp	2.4%	2.6%	4,335,818	-16.1%	$247.1M
DUKDuke Energy Corp New	2.4%	2.6%	1,933,412	+0.6%	$244.7M
JCIJohnson Controls Internation	2.4%	2.3%	1,671,438	-1.1%	$244.2M
GDGeneral Dynamics Corp	2.4%	2.4%	675,358	+0.3%	$239.2M
CBChubb Limited	2.3%	2.3%	674,693	+0.1%	$229.9M
TFCTruist Finl Corp	2.2%	2.1%	4,473,955	+0.4%	$222.9M
RTXRtx Corporation	2.1%	2.3%	1,151,388	-0.1%	$218.5M
PMPhilip Morris Intl Inc	2.1%	2.0%	1,197,637	+0.9%	$216.7M
NEENextera Energy Inc	2.1%	2.3%	2,418,915	-0.3%	$212.3M
PEAKHealthpeak Properties Inc	2.1%	1.9%	9,768,642	-11.1%	$209.0M
XOMExxonmobil Holdings Corp	2.0%	—	1,492,052	—	$204.0M
MDTMedtronic PLC	2.0%	2.3%	2,591,898	-1.5%	$202.8M
AVGOBroadcom Inc	2.0%	1.7%	532,119	-0.3%	$201.0M
UNHUnitedhealth Group Inc	1.9%	1.3%	475,519	+0.6%	$197.6M
VICIVici Pptys Inc	1.8%	1.9%	6,969,674	+2.7%	$185.0M
COPConocophillips	1.8%	2.4%	1,748,628	-2.1%	$181.8M
UPSUnited Parcel Svcs Inc	1.8%	1.6%	1,656,471	+2.0%	$178.1M
QCOMQualcomm Inc	1.7%	1.2%	939,601	+4.7%	$173.6M
GPCGenuine Parts Co	1.6%	1.7%	1,411,008	-9.8%	$166.5M
MOAltria Group Inc	1.6%	1.6%	2,311,947	-2.6%	$166.3M
ULUnilever PLC	1.6%	1.5%	2,745,360	+3.7%	$165.1M
TRVTravelers Companies Inc	1.6%	1.4%	480,235	-0.5%	$158.5M
TGTTarget Corp	1.4%	1.4%	1,116,467	-1.6%	$145.8M
CVXChevron Corporation	1.4%	1.9%	859,592	-1.9%	$142.5M
LOWLowes Cos Inc	1.4%	1.5%	631,354	+2.7%	$139.2M
BTIBritish Amern Tob PLC	1.3%	0.8%	2,175,636	+61.9%	$134.4M
CMCSAComcast Corp New	1.3%	2.1%	5,287,200	-26.1%	$129.8M
QSRRestaurant Brands Intl Inc	1.3%	0.8%	1,770,095	+60.1%	$128.3M
BDXBecton Dickinson & Co	1.2%	1.2%	824,720	+13.1%	$124.8M
TAt&t Inc	1.2%	1.7%	5,722,075	+0.1%	$118.4M
MSFTMicrosoft Corp	1.1%	0.8%	292,959	+45.3%	$109.3M
BCEBce Inc	1.1%	1.5%	4,975,496	-16.6%	$107.0M
ASXAse Technology Hldg Co Ltd	0.9%	0.9%	2,090,788	-47.9%	$94.3M
CPACopa Holdings SA	0.9%	—	571,263	—	$88.9M
TSMTaiwan Semiconductor Manufac	0.8%	0.7%	179,777	-6.2%	$85.9M
OMCOmnicom Group Inc	0.8%	0.9%	1,176,691	+1.0%	$85.7M
DEODiageo PLC	0.8%	0.7%	1,018,308	+5.6%	$81.9M
CCICrown Castle Inc	0.8%	1.0%	1,026,370	-13.6%	$77.7M
IBMInternational Business Machs	0.7%	—	254,463	—	$71.6M
TIGOMillicom Intl Cellular S A	0.7%	—	785,131	—	$71.3M
NGGNational Grid PLC	0.7%	0.7%	815,548	+2.7%	$67.6M
TMToyota Motor Corp	0.6%	0.7%	391,325	+25.2%	$65.9M
SYYSysco Corp	0.6%	—	782,576	—	$65.4M

What Cullen Capital Management, LLC bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

BTI British Amern Tob PLC+61.9% shares
QSR Restaurant Brands Intl Inc+60.1% shares
MSFT Microsoft Corp+45.3% shares
TM Toyota Motor Corp+25.2% shares
BDX Becton Dickinson & Co+13.1% shares
DEO Diageo PLC+5.6% shares

Reduced

ASX Ase Technology Hldg Co Ltd-47.9% shares
CSCO Cisco Sys Inc-29.8% shares
CMCSA Comcast Corp New-26.1% shares
BCE Bce Inc-16.6% shares
BAC Bank of Amer Corp-16.1% shares
CCI Crown Castle Inc-13.6% shares
C Citigroup Inc-13.0% shares
PEAK Healthpeak Properties Inc-11.1% shares

Left the top 50

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +28.9% /yr; S&P 500 +20.1%
3 years: +18.4% /yr; S&P 500 +20.4%
5 years: +10.3% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$10.2B	208
Q1 2026	$9.8B	213
Q4 2025	$9.2B	225
Q3 2025	$9.1B	217
Q2 2025	$8.8B	198
Q1 2025	$8.7B	205
Q4 2024	$8.6B	208
Q3 2024	$9.2B	206
Q2 2024	$8.7B	209
Q1 2024	$9.0B	197
Q4 2023	$6.7B	212
Q3 2023	$8.6B	205

Questions about Cullen Capital Management, LLC's portfolio

What stocks does Cullen Capital Management, LLC own?

Cullen Capital Management, LLC's latest 13F, for Q2 2026 and filed Aug 13, 2026, lists 208 positions worth $10.2B. The largest are Novartis AG (NVS) at 3.1%, Cisco Sys Inc (CSCO) at 3.0%, Morgan Stanley (MS) at 2.9%, Johnson & Johnson (JNJ) at 2.7% and Citigroup Inc (C) at 2.7%.

What did Cullen Capital Management, LLC buy last quarter?

In Q2 2026, Cullen Capital Management, LLC added British Amern Tob PLC (BTI) (+61.9% shares), Restaurant Brands Intl Inc (QSR) (+60.1% shares) and Microsoft Corp (MSFT) (+45.3% shares), compared with its Q1 2026 filing.

What did Cullen Capital Management, LLC sell last quarter?

In Q2 2026, Cullen Capital Management, LLC cut from its top 50 Exxon Mobil Corp (XOM), cut from its top 50 Dow Hldgs Inc (DOW), cut from its top 50 Pfizer Inc (PFE), cut from its top 50 Eog Res Inc (EOG), cut from its top 50 Bristol-Myers Squibb Co (BMY), Ase Technology Hldg Co Ltd (ASX) (-47.9% shares), Cisco Sys Inc (CSCO) (-29.8% shares) and Comcast Corp New (CMCSA) (-26.1% shares), compared with its Q1 2026 filing.

How has Cullen Capital Management, LLC's portfolio performed?

A portfolio copying Cullen Capital Management, LLC's 20 largest 13F holdings each quarter, from the day each filing was public, returned +18.4% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +28.9% against +20.1%. Over 5 years: +10.3% a year against +11.6%.

When is Cullen Capital Management, LLC's next 13F filing due?

13F filings are due 45 days after each quarter ends. Cullen Capital Management, LLC's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Cullen Capital Management, LLC manage?

Cullen Capital Management, LLC reported $11.6B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $10.2B.