Cullen Capital Management, LLC Q2 2025 Filing

Filed September 30, 2025

Portfolio Value

$8.8T

Holdings

198

Report Date

Q2 2025

Filing Type

13F-HR

All Holdings (198 positions)

#StockSharesValue% PortfolioType
1
JPMJP Morgan Chase & Co.
1,047,243$303.6B3.46%
2
CSCOCisco Systems Inc.
4,035,596$280.0B3.19%
3
BACBank of America Corp.
5,507,486$260.6B2.97%
4
NVSNNovartis AG (ADR)
2,096,852$253.7B2.89%
5
DUKDuke Energy Corp.
2,049,613$241.9B2.75%
6
MDTMedtronic PLC
2,701,420$235.5B2.68%
7
TRVCCitigroup Inc.
2,757,364$234.7B2.67%
8
AVGOBroadcom Ltd.
837,455$230.8B2.63%
9
DWDMorgan Stanley
1,636,014$230.4B2.62%
10
TAT&T Inc.
7,944,442$229.9B2.62%
11
4I1Philip Morris International In
1,240,048$225.8B2.57%
12
GDGeneral Dynamics Corp.
741,984$216.4B2.46%
13
RTXRTX Corp
1,473,335$215.1B2.45%
14
VICIVici Properties Inc.
6,426,523$209.5B2.39%
15
JCIJohnson Controls International
1,983,526$209.5B2.39%
16
XOMExxon Mobil Corp.
1,929,306$208.0B2.37%
17
CBChubb Ltd.
695,502$201.5B2.29%
18
JNJJohnson & Johnson
1,211,617$185.1B2.11%
19
MRKMerck & Co. Inc.
2,276,476$180.2B2.05%
20
TFCTruist Financial Corp
4,164,716$179.0B2.04%
21
COPConocoPhillips
1,934,767$173.6B1.98%
22
CMCSAComcast Corp. (Cl A)
4,838,708$172.7B1.97%
23
NEENextEra Energy Inc.
2,476,861$171.9B1.96%
24
DOCHealthpeak Properties Inc
9,591,104$167.9B1.91%
25
GPCGenuine Parts Co.
1,353,327$164.2B1.87%
26
ULUnilever PLC (ADR)
2,546,500$155.8B1.77%
27
MOAltria Group Inc.
2,617,603$153.5B1.75%
28
TRVThe Travelers Companies Inc.
520,886$139.4B1.59%
29
UPSUnited Parcel Service Inc.
1,323,656$133.6B1.52%
30
LOWLowe's Companies Inc.
585,937$130.0B1.48%
31
CVXChevron Corp.
904,996$129.6B1.48%
32
8CWCrown Castle Inc.
1,132,720$116.4B1.33%
33
MSFTMicrosoft Corp.
217,237$108.1B1.23%
34
DYHTarget Corp.
965,219$95.2B1.08%
35
PFEPfizer Inc.
3,643,578$88.3B1.01%
36
QCOMQualcomm Inc.
542,906$86.5B0.98%
37
DOWDow Inc
3,184,041$84.3B0.96%
38
BCEBCE Inc.
3,597,380$79.8B0.91%
39
DEODiageo PLC (ADR)
781,444$78.8B0.90%
40
OMCOmnicom Group Inc.
1,084,737$78.0B0.89%
41
EOGEOG Resources Inc.
576,470$69.0B0.79%
42
BACVerizon Communications Inc.
1,538,098$66.6B0.76%
43
BMTABritish American Tobacco PLC (ADR)
1,401,922$66.4B0.76%
44
BDXBecton Dickinson & Co.
368,568$63.5B0.72%
45
PPLPPL Corp.
1,847,742$62.6B0.71%
46
BMYBristol-Myers Squibb Co.
1,261,070$58.4B0.66%
47
ASXASE Technology Holding Company (ADR)
5,580,176$57.6B0.66%
48
NGGNational Grid PLC (ADR)
758,795$56.5B0.64%
49
CAGConagra Brands Inc.
2,740,013$56.1B0.64%
50
CCEPCoca Cola Euro Pacific Partner
576,776$53.5B0.61%
51
TSMTaiwan Semiconductor Manufacturing (ADR)
235,376$53.3B0.61%
52
PCARPACCAR Inc.
560,405$53.3B0.61%
53
SYYSysco Corp.
698,965$52.9B0.60%
54
KVUEKenvue Inc
2,484,940$52.0B0.59%
55
RIORio Tinto PLC (ADR)
882,679$51.5B0.59%
56
KOFCoca-Cola Femsa SAB de CV (ADR)
531,055$51.4B0.58%
57
IBMInternational Business Machine
173,053$51.0B0.58%
58
BAXBaxter International Inc.
1,651,542$50.0B0.57%
59
KDPKeurig Dr Pepper Inc
1,498,536$49.5B0.56%
60
ENBEnbridge Inc.
1,070,038$48.5B0.55%
61
PPGPPG Industries Inc.
411,757$46.8B0.53%
62
IBNICICI Bank Ltd. (ADR)
1,384,763$46.6B0.53%
63
PNCThe PNC Financial Services Gro
204,875$38.2B0.43%
64
SHELShell PLC (ADR)
485,378$34.2B0.39%
65
PBRPetroleo Brasileiro SA (ADR)
2,636,074$33.0B0.38%
66
TMToyota Motor Corp. (ADR)
157,494$27.1B0.31%
67
NSCNorfolk Southern Corp.
92,087$23.6B0.27%
68
XLCCommunication Services Select
205,981$22.4B0.25%
69
SWSmurfit Westrock PLC
514,091$22.2B0.25%
70
SNYSanofi (ADR)
437,824$21.2B0.24%
71
CPACopa Holdings SA
184,228$20.3B0.23%
72
XLVHealth Care Select Sector SPDR
143,463$19.3B0.22%
73
TTENTotalEnergies SE (ADR)
252,335$15.5B0.18%
74
EWYiShares MSCI South Korea ETF
196,402$14.1B0.16%
75
LAURLaureate Education Inc.
602,831$14.1B0.16%
76
EPIWisdomTree India Earnings Fund
210,075$10.0B0.11%
77
XLFFinancial Select Sector SPDR F
185,424$9.7B0.11%
78
KBIAKB Financial Group Inc. (ADR)
111,477$9.2B0.10%
79
XLIIndustrial Select Sector SPDR
61,155$9.0B0.10%
80
EWTiShares MSCI Taiwan ETF
156,851$9.0B0.10%
81
BABAAlibaba Group Holding Ltd. (ADR)
64,542$7.3B0.08%
82
XLKTechnology Select Sector SPDR
27,478$7.0B0.08%
83
ORCLOracle Corp.
29,363$6.4B0.07%
84
AXPAmerican Express Co.
17,007$5.4B0.06%
85
EWMiShares MSCI Malaysia ETF
206,733$5.0B0.06%
86
ETNEaton Corp. PLC
13,051$4.7B0.05%
87
CIThe Cigna Group
13,931$4.6B0.05%
88
ITUBItau Unibanco Holding SA (ADR)
675,383$4.6B0.05%
89
WMTWalmart Inc.
44,033$4.3B0.05%
90
HONHoneywell International Inc.
18,068$4.2B0.05%
91
DISThe Walt Disney Co.
32,982$4.1B0.05%
92
MDLZMondelez International Inc.
59,970$4.0B0.05%
93
XLBMaterials Select Sector SPDR F
45,086$4.0B0.05%
94
SRESempra
48,858$3.7B0.04%
95
AMATApplied Materials Inc.
20,163$3.7B0.04%
96
ALSThe Allstate Corp.
18,283$3.7B0.04%
97
ETEnergy Transfer LP
192,994$3.5B0.04%
98
BWABorgWarner Inc.
98,970$3.3B0.04%
99
EPDEnterprise Products Partners L
106,851$3.3B0.04%
100
BILSPDR Bloomberg 1-3 Month T-Bil
35,596$3.3B0.04%
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