Cullen Capital Management, LLC Q2 2025 Filing

Filed September 30, 2025

Portfolio Value

$8.8B

Holdings

198

Report Date

Q2 2025

Filing Type

13F-HR

All Holdings (198 positions)

#StockSharesValue% PortfolioType
1
JPMJP Morgan Chase & Co.
1,047,243$303.6B3457.33%
2
CSCOCisco Systems Inc.
4,035,596$280.0B3188.39%
3
BACBank of America Corp.
5,507,486$260.6B2967.76%
4
NVSNNovartis AG (ADR)
2,096,852$253.7B2889.48%
5
DUKDuke Energy Corp.
2,049,613$241.9B2754.13%
6
MDTMedtronic PLC
2,701,420$235.5B2681.57%
7
TRVCCitigroup Inc.
2,757,364$234.7B2672.73%
8
AVGOBroadcom Ltd.
837,455$230.8B2628.75%
9
DWDMorgan Stanley
1,636,014$230.4B2624.25%
10
TAT&T Inc.
7,944,442$229.9B2618.13%
11
4I1Philip Morris International In
1,240,048$225.8B2571.88%
12
GDGeneral Dynamics Corp.
741,984$216.4B2464.34%
13
RTXRTX Corp
1,473,335$215.1B2449.87%
14
VICIVici Properties Inc.
6,426,523$209.5B2385.74%
15
JCIJohnson Controls International
1,983,526$209.5B2385.69%
16
XOMExxon Mobil Corp.
1,929,306$208.0B2368.37%
17
CBChubb Ltd.
695,502$201.5B2294.60%
18
JNJJohnson & Johnson
1,211,617$185.1B2107.54%
19
MRKMerck & Co. Inc.
2,276,476$180.2B2052.10%
20
TFCTruist Financial Corp
4,164,716$179.0B2038.84%
21
COPConocoPhillips
1,934,767$173.6B1977.17%
22
CMCSAComcast Corp. (Cl A)
4,838,708$172.7B1966.55%
23
NEENextEra Energy Inc.
2,476,861$171.9B1958.02%
24
DOCHealthpeak Properties Inc
9,591,104$167.9B1912.43%
25
GPCGenuine Parts Co.
1,353,327$164.2B1869.52%
26
ULUnilever PLC (ADR)
2,546,500$155.8B1773.83%
27
MOAltria Group Inc.
2,617,603$153.5B1747.65%
28
TRVThe Travelers Companies Inc.
520,886$139.4B1586.94%
29
UPSUnited Parcel Service Inc.
1,323,656$133.6B1521.49%
30
LOWLowe's Companies Inc.
585,937$130.0B1480.40%
31
CVXChevron Corp.
904,996$129.6B1475.67%
32
8CWCrown Castle Inc.
1,132,720$116.4B1325.10%
33
MSFTMicrosoft Corp.
217,237$108.1B1230.49%
34
DYHTarget Corp.
965,219$95.2B1084.31%
35
PFEPfizer Inc.
3,643,578$88.3B1005.75%
36
QCOMQualcomm Inc.
542,906$86.5B984.60%
37
DOWDow Inc
3,184,041$84.3B960.12%
38
BCEBCE Inc.
3,597,380$79.8B908.20%
39
DEODiageo PLC (ADR)
781,444$78.8B897.35%
40
OMCOmnicom Group Inc.
1,084,737$78.0B888.64%
41
EOGEOG Resources Inc.
576,470$69.0B785.19%
42
BACVerizon Communications Inc.
1,538,098$66.6B757.88%
43
BMTABritish American Tobacco PLC (ADR)
1,401,922$66.4B755.60%
44
BDXBecton Dickinson & Co.
368,568$63.5B722.95%
45
PPLPPL Corp.
1,847,742$62.6B713.09%
46
BMYBristol-Myers Squibb Co.
1,261,070$58.4B664.75%
47
ASXASE Technology Holding Company (ADR)
5,580,176$57.6B656.41%
48
NGGNational Grid PLC (ADR)
758,795$56.5B642.96%
49
CAGConagra Brands Inc.
2,740,013$56.1B638.71%
50
CCEPCoca Cola Euro Pacific Partner
576,776$53.5B608.99%
51
TSMTaiwan Semiconductor Manufacturing (ADR)
235,376$53.3B607.07%
52
PCARPACCAR Inc.
560,405$53.3B606.64%
53
SYYSysco Corp.
698,965$52.9B602.85%
54
KVUEKenvue Inc
2,484,940$52.0B592.26%
55
RIORio Tinto PLC (ADR)
882,679$51.5B586.31%
56
KOFCoca-Cola Femsa SAB de CV (ADR)
531,055$51.4B584.97%
57
IBMInternational Business Machine
173,053$51.0B580.91%
58
BAXBaxter International Inc.
1,651,542$50.0B569.48%
59
KDPKeurig Dr Pepper Inc
1,498,536$49.5B564.16%
60
ENBEnbridge Inc.
1,070,038$48.5B552.23%
61
PPGPPG Industries Inc.
411,757$46.8B533.36%
62
IBNICICI Bank Ltd. (ADR)
1,384,763$46.6B530.47%
63
PNCThe PNC Financial Services Gro
204,875$38.2B434.92%
64
SHELShell PLC (ADR)
485,378$34.2B389.17%
65
PBRPetroleo Brasileiro SA (ADR)
2,636,074$33.0B375.53%
66
TMToyota Motor Corp. (ADR)
157,494$27.1B308.94%
67
NSCNorfolk Southern Corp.
92,087$23.6B268.42%
68
XLCCommunication Services Select
205,981$22.4B254.57%
69
SWSmurfit Westrock PLC
514,091$22.2B252.61%
70
SNYSanofi (ADR)
437,824$21.2B240.86%
71
CPACopa Holdings SA
184,228$20.3B230.71%
72
XLVHealth Care Select Sector SPDR
143,463$19.3B220.21%
73
TTENTotalEnergies SE (ADR)
252,335$15.5B176.40%
74
EWYiShares MSCI South Korea ETF
196,402$14.1B160.54%
75
LAURLaureate Education Inc.
602,831$14.1B160.50%
76
EPIWisdomTree India Earnings Fund
210,075$10.0B113.56%
77
XLFFinancial Select Sector SPDR F
185,424$9.7B110.58%
78
KBIAKB Financial Group Inc. (ADR)
111,477$9.2B104.84%
79
XLIIndustrial Select Sector SPDR
61,155$9.0B102.73%
80
EWTiShares MSCI Taiwan ETF
156,851$9.0B102.52%
81
BABAAlibaba Group Holding Ltd. (ADR)
64,542$7.3B83.35%
82
XLKTechnology Select Sector SPDR
27,478$7.0B79.24%
83
ORCLOracle Corp.
29,363$6.4B73.10%
84
AXPAmerican Express Co.
17,007$5.4B61.78%
85
EWMiShares MSCI Malaysia ETF
206,733$5.0B57.30%
86
ETNEaton Corp. PLC
13,051$4.7B53.06%
87
CIThe Cigna Group
13,931$4.6B52.44%
88
ITUBItau Unibanco Holding SA (ADR)
675,383$4.6B52.22%
89
WMTWalmart Inc.
44,033$4.3B49.03%
90
HONHoneywell International Inc.
18,068$4.2B47.93%
91
DISThe Walt Disney Co.
32,982$4.1B46.58%
92
MDLZMondelez International Inc.
59,970$4.0B46.06%
93
XLBMaterials Select Sector SPDR F
45,086$4.0B45.08%
94
SRESempra
48,858$3.7B42.16%
95
AMATApplied Materials Inc.
20,163$3.7B42.03%
96
ALSThe Allstate Corp.
18,283$3.7B41.91%
97
ETEnergy Transfer LP
192,994$3.5B39.84%
98
BWABorgWarner Inc.
98,970$3.3B37.73%
99
EPDEnterprise Products Partners L
106,851$3.3B37.73%
100
BILSPDR Bloomberg 1-3 Month T-Bil
35,596$3.3B37.18%
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