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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 5 of 22  ·  439 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
81 PSX PHILLIPS 66 COM Energy 18,779.0 $3.4M 0.04% -1K -6.6% $182.18 -8.8%
82 ZTS ZOETIS INC CL A Healthcare 27,533.0 $3.3M 0.04% -2K -8.0% $118.21 -33.4%
83 NSC NORFOLK SOUTHN CORP COM Industrials 11,284.0 $3.2M 0.04% -427.0 -3.6% $286.99 +4.6%
84 GWX SPDR INDEX SHS FDS STATE STREET SPD 74,819.0 $3.2M 0.04% -18K -19.7% $42.23 +7.8%
85 MS MORGAN STANLEY COM NEW Financial Services 18,486.0 $3.0M 0.04% -204.0 -1.1% $164.57 +35.6%
86 MDLZ MONDELEZ INTL INC CL A Consumer Defensive 50,516.0 $2.9M 0.03% -1K -2.2% $57.64 +4.3%
87 MMM 3M CO COM Industrials 19,618.0 $2.8M 0.03% -5K -20.9% $145.23 +10.6%
88 DLR DIGITAL RLTY TR INC COM Real Estate 15,698.0 $2.8M 0.03% -18K -52.9% $180.20 +4.4%
89 RNR RENAISSANCERE HLDGS LTD COM Financial Services 9,330.0 $2.8M 0.03% -62.0 -0.7% $297.23 +0.7%
90 XLV SELECT SECTOR SPDR TR STATE STREET HEA 18,529.0 $2.7M 0.03% -1K -5.9% $146.61 +1.9%
91 AWK AMERICAN WTR WKS CO INC NEW COM Utilities 19,899.0 $2.7M 0.03% -615.0 -3.0% $136.09 -8.1%
92 STT STATE STR CORP COM Financial Services 21,123.0 $2.7M 0.03% -386.0 -1.8% $126.56 +33.0%
93 BR BROADRIDGE FINL SOLUTIONS IN COM Technology 16,266.0 $2.6M 0.03% -437.0 -2.6% $162.48 -15.3%
94 MCK MCKESSON CORP COM Healthcare 2,936.0 $2.5M 0.03% -1K -27.4% $865.42 -13.3%
95 VEA VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT 38,661.0 $2.5M 0.03% -11K -22.2% $64.08 +12.8%
96 MPC MARATHON PETE CORP COM Energy 9,771.0 $2.4M 0.03% -2K -17.0% $244.18 -0.5%
97 XLC SELECT SECTOR SPDR TR STATE STREET COM 19,462.0 $2.2M 0.03% -4K -15.6% $110.86 -1.3%
98 ADBE ADOBE INC COM Technology 8,793.0 $2.1M 0.02% -135.0 -1.5% $243.08 -19.7%
99 APD AIR PRODUCTS AND CHEMICALS I COM Basic Materials 7,305.0 $2.1M 0.02% -90.0 -1.2% $290.49 -3.5%
100 BSM BLACK STONE MINERALS L P COM UNIT Energy 123,715.0 $1.9M 0.02% -20K -13.8% $15.12 -7.3%
Page 5 of 22  ·  439 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%