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Portfolio (Quarterly) Guide ↗

Cullen/Frost Bankers, Inc.

· CIK 0000039263
13F Portfolio $8.8B AUM 1,393 positions Filed May 5, 2026 EDGAR ↗ ← All Funds
Q1 2026 Q4 2025 · All 136 New 549 Added 439 Reduced 192 Exited
Page 2 of 28  ·  549 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
21 PG PROCTER & GAMBLE CO COM Consumer Defensive 270,650.0 $39.1M 0.44% +15K +5.9% $144.44 +4.1%
22 MRK MERCK & CO INC COM Healthcare 300,942.0 $36.2M 0.41% +85K +39.3% $120.29 -5.3%
23 CMI CUMMINS INC COM Industrials 66,401.0 $35.7M 0.41% +447.0 +0.7% $538.02 +33.2%
24 ORLY OREILLY AUTOMOTIVE INC COM Consumer Cyclical 366,116.0 $33.8M 0.38% +2K +0.6% $92.31 -5.9%
25 GE GE AEROSPACE COM NEW Industrials 110,281.0 $31.3M 0.35% +1K +1.2% $283.77 +26.0%
26 MCD MCDONALDS CORP COM Consumer Cyclical 97,987.0 $30.5M 0.35% +694.0 +0.7% $310.79 -10.4%
27 GEV GE VERNOVA INC COM Utilities 32,884.0 $28.7M 0.33% +3K +11.2% $872.90 +27.1%
28 TXN TEXAS INSTRS INC COM Technology 146,154.0 $28.4M 0.32% +11K +7.8% $194.14 +66.3%
29 C CITIGROUP INC COM NEW Financial Services 249,585.0 $28.3M 0.32% +18K +7.6% $113.41 +26.1%
30 TSLA TESLA INC COM Consumer Cyclical 75,615.0 $28.1M 0.32% +6K +8.8% $371.75 +7.7%
31 VZ VERIZON COMMUNICATIONS INC COM Communication Services 542,576.0 $27.2M 0.31% +35K +6.9% $50.20 -9.6%
32 MCO MOODYS CORP COM Financial Services 62,149.0 $27.1M 0.31% +386.0 +0.6% $436.25 +3.3%
33 DIS DISNEY WALT CO COM Communication Services 270,039.0 $26.0M 0.30% +12K +4.7% $96.38 +7.8%
34 RTX RTX CORPORATION COM Industrials 132,603.0 $25.6M 0.29% +13K +11.2% $192.90 -3.8%
35 DHR DANAHER CORP DEL COM Healthcare 127,804.0 $24.2M 0.28% +1K +0.8% $189.60 -6.6%
36 HON HONEYWELL INTL INC COM Industrials 106,682.0 $24.1M 0.27% +2K +1.6% $226.03 +1.3%
37 AJG GALLAGHER ARTHUR J & CO COM Financial Services 110,386.0 $23.9M 0.27% +3K +3.0% $216.58 -1.2%
38 MDT MEDTRONIC PLC SHS Healthcare 264,629.0 $22.9M 0.26% +4K +1.5% $86.65 -8.4%
39 CME CME GROUP INC COM Financial Services 77,247.0 $22.8M 0.26% +2K +2.9% $295.35 -16.6%
40 SYK STRYKER CORPORATION COM Healthcare 68,456.0 $22.5M 0.26% +2K +2.4% $328.59 -6.3%
Page 2 of 28  ·  549 positions

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Technology 31.6%
Financial Services 14.8%
Healthcare 10.5%
Communication Services 10.5%
Consumer Cyclical 9.9%
Industrials 6.8%
Consumer Defensive 6.2%
Energy 4.9%
Utilities 1.9%
Basic Materials 1.6%