Fund Holdings — Cullen Capital Management, LLC

Total Portfolio Value
$8.78B
Total Bought
$694.08M
Total Sold
$1.09B
Net Transaction
-$398.89M
Filing Period:
Securities
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SharesValue ($K)
Q1 2025
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Q2 2025
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Change
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Q1 2025
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Q2 2025
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Weight (%)
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Change
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Broadcom Ltd.(AVGO)849,894837,455-12,439142,298230,8452.63%+88,547
Becton Dickinson & Co.(BDX)0368,568+368,568063,4860.72%+63,486
National Grid PLC (ADR)(NGG)0758,795+758,795056,4620.64%+56,462
Conagra Brands Inc.(CAG)59,5962,740,013+2,680,4171,58956,0880.64%+54,499
PACCAR Inc.(PCAR)0560,405+560,405053,2720.61%+53,272
AT&T Inc.(T)6,359,2227,944,442+1,585,220179,839229,9122.62%+50,073
PPG Industries Inc.(PPG)0411,757+411,757046,8370.53%+46,837
JP Morgan Chase & Co.(JPM)1,067,2101,047,243-19,967261,787303,6063.46%+41,820
ConocoPhillips(COP)1,266,9261,934,767+667,841133,053173,6261.98%+40,573
Morgan Stanley(MS)1,662,5991,636,014-26,585193,975230,4492.62%+36,474
Citigroup Inc.(C)2,796,3682,757,364-39,004198,514234,7072.67%+36,193
Bank of America Corp.5,500,1005,507,486+7,386229,519260,6142.97%+31,095
Taiwan Semiconductor Manufacturing (ADR)(TSM)164,444235,376+70,93227,29853,3100.61%+26,013
Microsoft Corp.(MSFT)224,053217,237-6,81684,107108,0561.23%+23,949
Norfolk Southern Corp.(NSC)092,087+92,087023,5720.27%+23,572
Cisco Systems Inc.(CSCO)4,180,7704,035,596-145,174257,995279,9903.19%+21,994
Communication Services Select
ST STR SVC ETF
7,649205,981+198,33273822,3550.25%+21,617
Philip Morris International In(PM)1,292,5081,240,048-52,460205,160225,8502.57%+20,690
Novartis AG (ADR)(NVS)2,108,6842,096,852-11,832235,076253,7402.89%+18,664
Health Care Select Sector SPDR
ST STR CARE ETF
4,815143,463+138,64870319,3370.22%+18,634
ASE Technology Holding Company (ADR)(ASX)4,497,2355,580,176+1,082,94139,39657,6430.66%+18,247
British American Tobacco PLC (ADR)(BTI)1,199,5821,401,922+202,34049,62766,3530.76%+16,726
Copa Holdings SA(CPA)87,260184,228+96,9688,06820,2600.23%+12,191
Enbridge Inc.(ENB)826,6541,070,038+243,38436,62948,4940.55%+11,865
General Dynamics Corp.(GD)752,071741,984-10,087204,999216,4072.46%+11,408
Qualcomm Inc.(QCOM)493,511542,906+49,39575,80886,4630.98%+10,655
Financial Select Sector SPDR F
ST STR FINL ETF
4,148185,424+181,2762079,7110.11%+9,504
iShares MSCI South Korea ETF101,217196,402+95,1855,47014,0980.16%+8,628
Industrial Select Sector SPDR
ST STR INDL ETF
4,71261,155+56,4436189,0220.10%+8,404
Technology Select Sector SPDR
ST STR TECHN ETF
1,87727,478+25,6013886,9580.08%+6,571
Itau Unibanco Holding SA (ADR)(ITUB)0675,383+675,38304,5860.05%+4,586
Coca Cola Euro Pacific Partner
SHS
563,792576,776+12,98449,06753,4790.61%+4,412
International Business Machine(IBM)187,670173,053-14,61746,66651,0130.58%+4,347
KB Financial Group Inc. (ADR)(KB)93,222111,477+18,2555,0449,2070.10%+4,163
Coca-Cola Femsa SAB de CV (ADR)(KOF)518,743531,055+12,31247,35651,3690.58%+4,013
The PNC Financial Services Gro(PNC)197,397204,875+7,47834,69638,1930.43%+3,496
Materials Select Sector SPDR F
ST STR MATER ETF
7,84645,086+37,2406753,9590.05%+3,284
Lowe's Companies Inc.(LOW)544,029585,937+41,908126,884130,0021.48%+3,118
iShares MSCI Taiwan ETF
MSCI TAIWAN ETF
125,835156,851+31,0165,9759,0030.10%+3,029
Genuine Parts Co.(GPC)1,352,5901,353,327+737161,148164,1721.87%+3,025
ICICI Bank Ltd. (ADR)(IBN)1,383,7211,384,763+1,04243,61546,5830.53%+2,969
Oracle Corp.(ORCL)29,79929,363-4364,1666,4200.07%+2,253
WisdomTree India Earnings Fund(WT)181,173210,075+28,9027,9199,9720.11%+2,053
Crown Castle Inc.(CCI)1,101,7891,132,720+30,931114,839116,3641.33%+1,525
Sysco Corp.(SYY)685,214698,965+13,75151,41852,9400.60%+1,521
SPDR Bloomberg 1-3 Month T-Bil
ST STR BLO 1 ETF
22,35935,596+13,2372,0513,2650.04%+1,214
Unilever PLC (ADR)(UL)2,596,9462,546,500-50,446154,648155,7691.77%+1,121
Eaton Corp. PLC(ETN)13,40613,051-3553,6444,6590.05%+1,015
The Walt Disney Co.(DIS)31,86932,982+1,1133,1454,0900.05%+945
American Express Co.(AXP)16,66417,007+3434,4835,4250.06%+941
Utilities Select Sector SPDR F
ST STR UTIL ETF
010,748+10,74808780.01%+878
Applied Materials Inc.19,63520,163+5282,8493,6910.04%+842
TotalEnergies SE (ADR)(TTE)229,097252,335+23,23814,82015,4910.18%+671
Public Storage(PSA)7212,991+2,2702168780.01%+662
SouthState Bank Corp.07,143+7,14306570.01%+657
Micron Technology Inc.(MU)13,21514,180+9651,1481,7480.02%+599
BorgWarner Inc.94,96898,970+4,0022,7213,3140.04%+593
Arrow Electronics Inc.22,15822,265+1072,3012,8370.03%+537
Companhia de Saneamento Basico (ADR)(SBS)11,76230,986+19,2242106810.01%+471
Shell PLC (ADR)(SHEL)460,039485,378+25,33933,71234,1750.39%+464
Newmark Group Inc.(NMRK)036,377+36,37704420.01%+442
Real Estate Select Sector SPDR
ST STR REAL ETF
010,453+10,45304330.00%+433
Viper Energy Inc(VNOM)010,868+10,86804140.00%+414
United Parcel Service Inc.(UPS)1,211,0141,323,656+112,642133,199133,6101.52%+410
Tetra Tech Inc.(TTEK)14,35722,441+8,0844208070.01%+387
General Electric Co.(GE)6,4516,45101,2911,6600.02%+369
GE Vernova LLC(GEV)1,6001,60004888470.01%+358
Honeywell International Inc.(HON)18,19118,068-1233,8524,2090.05%+358
Raymond James Financial Inc.(RJF)13,11714,087+9701,8222,1610.02%+338
BOEING CO/THE(BA)7,8517,872+211,3391,6490.02%+310
WP Carey Inc.(WPC)5,72810,467+4,7393616530.01%+291
iShares MSCI India ETF
MSCI INDIA ETF
56,11556,875+7602,8893,1670.04%+278
Alphabet Inc.(GOOG)8,0438,598+5551,2441,5150.02%+271
CSX Corp.(CSX)45,70449,064+3,3601,3451,6010.02%+256
Granite Real Estate Investment(GRTUF)8,19012,315+4,1253846230.01%+239
Core & Main Inc(CNM)10,96412,494+1,5305307540.01%+224
iShares MSCI Malaysia ETF
MSCI MLY ETF NEW
208,826206,733-2,0934,8205,0320.06%+212
Fidelity National Information(FIS)16,35017,510+1,1601,2211,4250.02%+204
Advanced Drainage Systems Inc.(WMS)4,6256,011+1,3865036900.01%+188
Marriot Vacations Worldwide Co(VAC)7,7889,504+1,7165006870.01%+187
Walmart Inc.(WMT)46,92244,033-2,8894,1194,3060.05%+186
Veralto Corp.(VLTO)5,2286,804+1,5765096870.01%+177
Douglas Elliman Inc.(DOUG)365,963346,901-19,0626298050.01%+175
Warner Brothers Discovery Inc.(WBD)102,245109,690+7,4451,0971,2570.01%+160
Great Lakes Dredge & Dock Corp118,45297,128-21,3241,0311,1840.01%+153
Pentair PLC(PNR)5,2855,973+6884626130.01%+151
Consumer Staples Select Sector
ST STR STAPL ETF
4,9546,792+1,8384055500.01%+145
The Cigna Group(CI)13,59013,931+3414,4714,6050.05%+134
H2O America(HTO)5,6348,507+2,8733084420.01%+134
First Horizon Corp.(FHN)70,41270,211-2011,3671,4880.02%+121
M/I Homes Inc.(MHO)3,0394,081+1,0423474580.01%+111
Ameris Bancorp(ABCB)16,39815,633-7659441,0110.01%+67
Simon Property Group Inc.(SPG)9,2219,896+6751,5311,5910.02%+59
Kimberly-Clark Corp.(KMB)5,8406,870+1,0308318860.01%+55
First Interstate Bancsystem In(FIBK)18,21419,877+1,6635225730.01%+51
Caterpillar Inc.(CAT)86986902873370.00%+51
Xylem Inc.(XYL)5,1015,10106096600.01%+51
Valmont Industries Inc.(VMI)1,1681,16803333810.00%+48
Canadian Pacific Kansas City L(CP)4,9534,95303483930.00%+45
3M Co.(MMM)7,3217,315-61,0751,1140.01%+38
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