Portfolio (Quarterly) Guide ↗

CULLEN INVESTMENT GROUP, LTD.

· CIK 0000797203

13F Portfolio $827M AUM 181 positions Filed Jul 9, 2026 EDGAR ↗ ← All Funds

Q2 2026 Q1 2026 · All 9 New 41 Added 76 Reduced 7 Exited

Page 2 of 3 · 41 positions

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#	Ticker	Company	Sector	Shares	Value ↓	% Port	Chg Shares	Chg %	Period Price ①	Since Period ①
21	SPYM	STATE STREET SPDR PORTFOLIO S&P ETF	—	20,614.0	$1.8M	0.22%	+2K	+12.2%	$87.88	+2.2%
22	KMI	KINDER MORGAN INCORPORATED DEL	Energy	52,272.0	$1.7M	0.20%	+311.0	+0.6%	$31.97	-1.1%
23	PGR	PROGRESSIVE CORPORATION	Financial Services	7,504.0	$1.6M	0.20%	+41.0	+0.6%	$218.45	+0.9%
24	VOO	VANGUARD INDEX FUNDS S&P 500 ETF SHS NEW	—	2,373.0	$1.6M	0.20%	+43.0	+1.9%	$686.81	+2.1%
25	SHEL	SHELL PLC SPON ADS	Energy	17,470.0	$1.4M	0.16%	+117.0	+0.7%	$77.54	+20.8%
26	OKE	ONEOK INCORPORATED NEW	Energy	15,366.0	$1.3M	0.16%	+281.0	+1.9%	$86.94	+8.8%
27	ET	ENERGY TRANSFER L P COM UT LTD PTN	Energy	69,400.0	$1.3M	0.16%	+2K	+2.2%	$19.12	+10.9%
28	IVV	ISHARES TR CORE S&P500 ETF	—	1,394.0	$1.0M	0.13%	+44.0	+3.3%	$748.99	+2.3%
29	GBX	GREENBRIER COMPANIES INCORPORATED	Industrials	19,164.0	$939K	0.11%	+111.0	+0.6%	$49.01	-6.5%
30	QSR	RESTAURANT BRANDS INTERNATIONAL INCORPORATED	Consumer Cyclical	11,056.0	$802K	0.10%	+3K	+33.9%	$72.51	+9.7%
31	ORCL	ORACLE CORPORATION	Technology	5,154.0	$755K	0.09%	+673.0	+15.0%	$146.54	-3.0%
32	ITOT	ISHARES TR CORE S&P TTL STK	—	3,793.0	$623K	0.07%	+20.0	+0.5%	$164.26	+1.8%
33	PEO	ADAM NAT RES FD INCORPORATED	Financial Services	24,699.0	$611K	0.07%	+349.0	+1.4%	$24.72	+14.8%
34	FHN	FIRST HORIZON CORPORATION	Financial Services	19,549.0	$501K	0.06%	+112.0	+0.6%	$25.64	-3.7%
35	HAL	HALLIBURTON COMPANY	Energy	13,707.0	$465K	0.06%	+699.0	+5.4%	$33.95	+5.1%
36	TRN	TRINITY INDUSTRIES INCORPORATED	Industrials	12,411.0	$429K	0.05%	+105.0	+0.8%	$34.58	-14.0%
37	SEIC	SEI INVTS COMPANY	Financial Services	3,393.0	$298K	0.04%	+18.0	+0.5%	$87.71	+22.7%
38	CNI	CANADIAN NATL RY COMPANY	Industrials	2,241.0	$267K	0.03%	+12.0	+0.5%	$119.22	+7.6%
39	BSM	BLACK STONE MINERALS L P COM UNIT	Energy	17,083.0	$239K	0.03%	+362.0	+2.2%	$13.97	+5.7%
40	TSCO	TRACTOR SUPPLY COMPANY	Consumer Cyclical	6,797.0	$215K	0.03%	+46.0	+0.7%	$31.61	+10.9%

Page 2 of 3 · 41 positions

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① 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 26.5%

Industrials 15.1%

Financial Services 13.1%

Healthcare 10.8%

Communication Services 9.6%

Consumer Defensive 8.4%

Energy 7.2%

Consumer Cyclical 6.9%

Real Estate 1.2%

Utilities 0.8%