Q2 2026 13F · SEC CIK 39263

Cullen/Frost Bankers, Inc.

Bank & trustFiled 2026-07-27 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $10.1B
Reported positions: 1,410
Top holdings a year, 3 yrs: +21.2%
Average holding period: 7.0 yrs

Cullen/Frost Bankers, Inc. is a bank & trust that reported 1,410 positions worth $10.1B in its Q2 2026 13F, filed 2026-07-27. Its largest holdings were Apple Inc (AAPL, 5.4%), Putnam Focused Large Cap Value ETF (PVAL, 4.3%), Vanguard Indx Fd (VUG, 3.5%). A portfolio copying its top holdings returned 21.2% a year over the last 3 years, against 20.4% for the S&P 500.

Cullen/Frost Bankers, Inc. holdings largest 50 of 1,410 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/Frost Bankers, Inc. 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
AAPLApple Inc	5.4%	5.4%	1,882,904	-0.4%	$544.8M
PVALPutnam Focused Large Cap Value ETF	4.3%	4.1%	8,610,022	+11.5%	$438.7M
VUGVanguard Indx Fd	3.5%	3.3%	4,180,396	+537.0%	$360.1M
MSFTMicrosoft Corp	3.3%	3.8%	901,874	-1.0%	$336.4M
NVDANvidia Corporation Com	3.2%	3.3%	1,635,716	-0.5%	$327.3M
EMXCIshares Inc	3.1%	2.3%	3,105,139	+21.1%	$317.7M
GOOGLAlphabet Inc	2.3%	2.1%	660,759	+1.1%	$236.1M
AMZNAmazon Com Inc Com	2.1%	2.2%	890,254	-6.4%	$212.2M
EFAiShs MSCI EAFE	2.1%	2.2%	2,040,031	+1.3%	$211.9M
AVGOBroadcom Inc	2.0%	1.9%	548,367	+2.6%	$207.1M
GLWCorning Inc.	1.9%	1.2%	770,075	-0.3%	$196.7M
VBVanguard Indx Fd	1.8%	1.8%	600,979	+1.8%	$182.2M
GOOGAlphabet Inc	1.7%	1.6%	500,364	-0.3%	$176.8M
IWPIshares Russell Mid-Cap Growth ETF	1.7%	1.9%	1,188,094	-6.7%	$173.9M
IWFIshares Russell 1000 Growth ETF	1.6%	1.6%	1,288,814	+293.7%	$160.0M
SPYSpdr S&p 500 ETF Tr	1.4%	1.3%	188,706	+4.4%	$140.9M
VOVanguard Index Fds	1.3%	1.4%	1,657,960	+275.1%	$133.6M
LLYLilly Eli & Co	1.2%	1.1%	101,158	-2.6%	$121.3M
IWLGNew York Life Invts Active E	1.2%	1.2%	2,109,171	-1.9%	$119.4M
VVisa Inc Com Cl A	1.2%	1.2%	344,057	-1.3%	$118.0M
METAMeta Platforms Inc Class A	1.1%	1.3%	205,270	-1.1%	$115.6M
IJJiShares S&P Midcap 400 Value	1.1%	1.2%	768,428	-6.9%	$113.5M
JPMJpmorgan Chase & Co	1.1%	1.1%	343,499	+0.6%	$112.4M
IWDIshares Russell 1000 Value ETF	1.1%	1.1%	442,652	+1.7%	$107.3M
KLACKla Corp	1.0%	0.5%	337,368	+965.4%	$101.8M
ABBVAbbvie Inc	0.8%	0.9%	341,851	-4.6%	$86.0M
CSCOCisco Sys Inc	0.8%	0.6%	709,810	+3.6%	$83.4M
COSTCostco Whsl Corp New	0.8%	1.0%	87,315	-1.3%	$81.7M
MAMastercard Inc.	0.8%	0.9%	155,399	-2.0%	$79.8M
JNJJohnson & Johnson	0.8%	0.9%	308,337	-0.3%	$78.3M
XOMExxon Mobil Corp	0.7%	1.0%	516,857	+2.8%	$70.7M
CVXChevron Corp New	0.7%	1.0%	413,845	+0.3%	$68.6M
ETNEaton Corp PLC	0.7%	0.6%	156,463	+0.2%	$66.7M
VEUVanguard FTSE All	0.6%	0.6%	747,233	+3.5%	$62.6M
HDHome Depot Inc Com	0.6%	0.7%	176,342	-1.8%	$62.2M
BRK-BBerkshire Hathaway Inc Del	0.6%	0.7%	123,714	-4.5%	$61.9M
CGDVCapital Group Dividend Value ETF	0.6%	—	1,222,092	—	$60.2M
AGGIshares Tr	0.6%	0.6%	588,927	+5.4%	$58.3M
WMTWalmart Inc	0.6%	0.7%	511,092	-1.5%	$57.9M
BACBank of Amer Corp	0.6%	0.6%	1,005,065	-2.1%	$57.3M
AMDAdvanced Micro Devices Inc	0.5%	—	93,696	—	$54.4M
TXNTexas Instruments Inc	0.5%	—	172,984	—	$51.6M
VWOVanguard Intl Equity Index F	0.5%	0.4%	833,272	+14.8%	$49.7M
KOCoca Cola Co	0.5%	0.5%	607,084	-0.5%	$49.3M
LRCXLam Research Corp	0.5%	—	113,089	—	$49.0M
PMPhilip Morris Intl Inc Com	0.5%	0.5%	269,279	-0.3%	$48.7M
CMICummins Inc	0.5%	—	65,761	—	$46.9M
AXPAmerican Express Co Com	0.5%	0.5%	137,049	+0.7%	$46.4M
UNHUnitedhealth Group Inc Com	0.5%	—	110,963	—	$46.1M
SCHDSchwab Strategic Tr	0.4%	0.6%	1,421,380	-10.4%	$45.1M

What Cullen/Frost Bankers, Inc. 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

KLAC Kla Corp+965.4% shares
VUG Vanguard Indx Fd+537.0% shares
IWF Ishares Russell 1000 Growth ETF+293.7% shares
VO Vanguard Index Fds+275.1% shares
EMXC Ishares Inc+21.1% shares
VWO Vanguard Intl Equity Index F+14.8% shares
PVAL Putnam Focused Large Cap Value ETF+11.5% shares
AGG Ishares Tr+5.4% shares

Reduced

SCHD Schwab Strategic Tr-10.4% shares
IJJ iShares S&P Midcap 400 Value-6.9% shares
IWP Ishares Russell Mid-Cap Growth ETF-6.7% shares
AMZN Amazon Com Inc Com-6.4% 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: +18.0% /yr; S&P 500 +20.1%
3 years: +21.2% /yr; S&P 500 +20.4%
5 years: +11.6% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 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	$10.1B	1,410
Q1 2026	$8.8B	1,387
Q4 2025	$9.1B	1,457
Q3 2025	$8.6B	1,321
Q2 2025	$8.0B	1,298
Q1 2025	$7.1B	1,277
Q4 2024	$7.3B	1,339
Q3 2024	$7.3B	1,210
Q2 2024	$6.9B	1,236
Q1 2024	$6.7B	995
Q4 2023	$6.4B	1,011
Q3 2023	$5.7B	1,150

Questions about Cullen/Frost Bankers, Inc.'s portfolio

What stocks does Cullen/Frost Bankers, Inc. own?

Cullen/Frost Bankers, Inc.'s latest 13F, for Q2 2026 and filed Jul 27, 2026, lists 1,410 positions worth $10.1B. The largest are Apple Inc (AAPL) at 5.4%, Putnam Focused Large Cap Value ETF (PVAL) at 4.3%, Vanguard Indx Fd (VUG) at 3.5%, Microsoft Corp (MSFT) at 3.3% and Nvidia Corporation Com (NVDA) at 3.2%.

What did Cullen/Frost Bankers, Inc. buy last quarter?

In Q2 2026, Cullen/Frost Bankers, Inc. added Kla Corp (KLAC) (+965.4% shares), Vanguard Indx Fd (VUG) (+537.0% shares) and Ishares Russell 1000 Growth ETF (IWF) (+293.7% shares), compared with its Q1 2026 filing.

What did Cullen/Frost Bankers, Inc. sell last quarter?

In Q2 2026, Cullen/Frost Bankers, Inc. cut from its top 50 Oracle Corp (ORCL), cut from its top 50 Entergy Corp. (ETR), cut from its top 50 Valero Energy Corp (VLO), cut from its top 50 Netflix Inc Total (NFLX), cut from its top 50 Intuitive Surgical Inc (ISRG), Schwab Strategic Tr (SCHD) (-10.4% shares), iShares S&P Midcap 400 Value (IJJ) (-6.9% shares) and Ishares Russell Mid-Cap Growth ETF (IWP) (-6.7% shares), compared with its Q1 2026 filing.

How has Cullen/Frost Bankers, Inc.'s portfolio performed?

A portfolio copying Cullen/Frost Bankers, Inc.'s 20 largest 13F holdings each quarter, from the day each filing was public, returned +21.2% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +18.0% against +20.1%. Over 5 years: +11.6% a year against +11.6%.

When is Cullen/Frost Bankers, Inc.'s next 13F filing due?

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