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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 61 of 70  ·  1,393 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
1201 RGA REINSURANCE GROUP AMER INC COM NEW Financial Services 18.0 $4K -4.0 -18.2% $207.06 +1.7%
1202 NJR NEW JERSEY RES CORP COM Utilities 66.0 $4K -741.0 -91.8% $55.20 -0.2%
1203 LENNAR CORP CL B 43.0 $4K NEW $84.12
1204 VTR VENTAS INC COM Real Estate 44.0 $4K -14.0 -24.1% $81.59 +0.0%
1205 FTSL FIRST TR EXCHANGE-TRADED FD SENIOR LN FD 80.0 $4K NEW $44.80 +0.4%
1206 FSIG FIRST TR EXCHANGE-TRADED FD LIMITED DURATION 189.0 $4K +2.0 +1.1% $18.95 -0.2%
1207 ONL ORION PROPERTIES INC COM Real Estate 1,641.0 $4K +9.0 +0.6% $2.15 +33.5%
1208 CG CARLYLE GROUP INC COM Financial Services 71.0 $3K +16.0 +29.1% $48.11 -6.9%
1209 SMURFIT WESTROCK PLC SHS 86.0 $3K +1.0 +1.2% $39.65
1210 ULS UL SOLUTIONS INC CLASS A COM SHS Industrials 39.0 $3K NEW $85.72 +6.6%
1211 PEB PEBBLEBROOK HOTEL TR COM Real Estate 262.0 $3K -3K -92.2% $12.65 +50.7%
1212 AAL AMERICAN AIRLINES GROUP INC COM Industrials 301.0 $3K -1K -76.9% $10.74 +48.9%
1213 LSTR LANDSTAR SYS INC COM Industrials 20.0 $3K NEW $160.75 +29.0%
1214 DFIN DONNELLEY FINL SOLUTIONS INC COM Financial Services 67.0 $3K NEW $47.13 -17.0%
1215 PCOR PROCORE TECHNOLOGIES INC COM Technology 55.0 $3K +21.0 +61.8% $57.00 -29.8%
1216 JXN JACKSON FINANCIAL INC COM CL A Financial Services 29.0 $3K -295.0 -91.0% $104.97 +1.8%
1217 XLG INVESCO EXCHANGE TRADED FD T S&P 500 TOP 50 56.0 $3K -22K -99.8% $54.14 +14.1%
1218 STAG STAG INDUSTRIAL INC COM Real Estate 81.0 $3K +21.0 +35.0% $35.93 +5.2%
1219 DBC INVESCO DB COMMDY INDX TRCK UNIT Financial Services 100.0 $3K $28.95 -4.6%
1220 RIGL RIGEL PHARMACEUTICALS INC COM Healthcare 107.0 $3K -1K -91.7% $27.04 +21.7%
Page 61 of 70  ·  1,393 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%