Latest CULLEN CAPITAL MANAGEMENT, LLC Stock Portfolio

CULLEN CAPITAL MANAGEMENT, LLC Performance:

2025 Q4: 3.15%YTD: 1.77%2024: 6.82%

Performance for 2025 Q4 is 3.15%, and YTD is 1.77%, and 2024 is 6.82%.

About CULLEN CAPITAL MANAGEMENT, LLC and 13F Hedge Fund Stock Holdings

Cullen Capital Management, LLC is a hedge fund based in New York, NY. On 2026-02-13, the fund reported it's updated stock portfolio. In the 13F Holdings report, Cullen Capital Management, LLC reported an equity portfolio of $9.2 Billions as of 31 Dec, 2025.

The top stock holdings of Cullen Capital Management, LLC are CSCO, NVS, BAC. The fund has invested 3.1% of it's portfolio in CISCO SYSTEMS INC. and 3.1% of portfolio in NOVARTIS AG (ADR).

The fund managers got completely rid off UNILEVER PLC (ADR) (UL), TOTALENERGIES SE (ADR) (TTE) and ISHARES MSCI BRAZIL ETF (ACWV) stocks. They significantly reduced their stock positions in KENVUE INC, NORFOLK SOUTHERN CORP. (NSC) and KT CORP. (ADR) (KT). Cullen Capital Management, LLC opened new stock positions in UNILEVER PLC (ADR) (UL), AMERICAN INTERNATIONAL GROUP I (AIG) and NOVO NORDISK A/S (ADR) (NVO). The fund showed a lot of confidence in some stocks as they added substantially to STATE STREET MATERIALS SELECT (XLB), FIRST HORIZON CORP. (FHN) and ISHARES RUSSELL 1000 VALUE ETF (IJR).

CULLEN CAPITAL MANAGEMENT, LLC Annual Return Estimates Vs S&P 500

Our best estimate is that Cullen Capital Management, LLC made a return of 3.15% in the last quarter. In trailing 12 months, it's portfolio return was 1.77%.

Performance
S&P 500

New Buys

Ticker	$ Bought
unilever plc (adr)	143,016,000
american international group i	42,285,100
novo nordisk a/s (adr)	27,857,800
totalenergies se	13,026,600
state street energy select sec	9,121,240
state street financial select	3,926,630
axia energia adr	3,024,790
ishares select dividend etf	2,982,290

New stocks bought by CULLEN CAPITAL MANAGEMENT, LLC

Additions

Ticker	% Inc.
state street materials select	7,414
state street real estate selec	5,485
first horizon corp.	3,401
state street consumer staples	2,958
ishares russell 1000 value etf	1,791
union pacific corp.	1,612
state street industrial select	1,510
state street communication ser	1,420

Additions to existing portfolio by CULLEN CAPITAL MANAGEMENT, LLC

Reductions

Ticker	% Reduced
kenvue inc	-99.58
norfolk southern corp.	-99.38
kt corp. (adr)	-75.09
dupont de nemours inc.	-58.82
laureate education inc.	-54.26
ishares msci china etf	-51.7
diageo plc (adr)	-50.34
alphabet inc.	-45.46

CULLEN CAPITAL MANAGEMENT, LLC reduced stake in above stock

Sold off

Ticker	$ Sold
unilever plc (adr)	-147,770,000
ishares msci brazil etf	-5,981,640
totalenergies se (adr)	-11,371,800
ishares msci malaysia etf	-1,769,690
suzano sa (adr)	-184,193
ishares s&p latin america 40 e	-381,290
rayonier inc.	-219,273
korn ferry	-431,217

CULLEN CAPITAL MANAGEMENT, LLC got rid off the above stocks

Sector Distribution

Cullen Capital Management, LLC has about 20% of it's holdings in Others sector.

Sector	%
Others	20
Financial Services	19.9
Healthcare	11.9
Industrials	9.6
Technology	8.5
Energy	6.8
Consumer Defensive	5.7
Utilities	5.3
Real Estate	4.5
Consumer Cyclical	3.5
Communication Services	3.1
Basic Materials	1.1

Market Cap. Distribution

Cullen Capital Management, LLC has about 77.9% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
LARGE-CAP	42.2
MEGA-CAP	35.7
UNALLOCATED	20
SMALL-CAP	1.7

Stocks belong to which Index?

About 79.8% of the stocks held by Cullen Capital Management, LLC either belong to S&P 500 or RUSSELL 2000 index.

Index	%
S&P 500	79.8
Others	20

Top 5 Winners (%)		%
MU	micron technology inc.	63.0 %
XLB	state street health care selec	48.3 %
ASX	ase technology holding company (adr)	45.1 %
XLB	state street industrial select	36.4 %
XLB	state street communication ser	36.0 %

Top 5 Winners ($)		$
MRK	merck & co. inc.	49.4 M
C	citigroup inc.	36.1 M
CSCO	cisco systems inc.	33.0 M
MS	morgan stanley	28.5 M
ASX	ase technology holding company (adr)	28.1 M

Top 5 Losers (%)		%
LDI	loandepot inc.	-32.5 %
ORCL	oracle corp.	-30.6 %
HIW	highwoods properties inc.	-18.9 %
TREE	lendingtree inc.	-17.9 %
BABA	alibaba group holding ltd. (adr)	-17.4 %

Top 5 Losers ($)		$
PEAK	healthpeak properties inc	-29.9 M
VICI	vici properties inc.	-27.0 M
GPC	genuine parts co.	-21.1 M
MO	altria group inc.	-20.2 M
T	at&t inc.	-19.6 M

CULLEN CAPITAL MANAGEMENT, LLC Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of CULLEN CAPITAL MANAGEMENT, LLC

Cullen Capital Management, LLC has 225 stocks in it's portfolio. About 28.6% of the portfolio is in top 10 stocks. PEAK proved to be the most loss making stock for the portfolio. MRK was the most profitable stock for Cullen Capital Management, LLC last quarter.

Last Reported on: 13 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AAPL	apple inc.	0.01	4,940	1,342,990	unchanged	0.00

AAXJ	ishares msci eafe value etf	0.17	217,890	15,559,500	reduced	-5.93

AAXJ	ishares msci acwi ex us etf	0.14	186,200	12,499,600	added	55.61

AAXJ	ishares global timber & forest	0.00	6,560	472,386	new

ABBV	abbvie inc.	0.00	1,997	456,295	added	60.14

ABCB	ameris bancorp	0.01	9,441	701,183	reduced	-30.66

ACWF	ishares trust ishares global	0.01	23,559	587,797	new

ACWV	ishares msci south korea etf	0.29	269,232	26,174,700	added	20.87

ACWV	ishares msci brazil etf	0.00	0.00	0.00	sold off	-100

ADBE	adobe systems inc.	0.02	4,435	1,552,210	added	45.55

ADC	agree realty corp.	0.00	2,950	212,489	unchanged	0.00

ADM	archer-daniels-midland co.	0.01	22,518	1,294,560	reduced	-0.33

AFK	vaneck vectors pharmaceutical	0.00	4,620	476,645	new

AGZD	wisdomtree india earnings fund	0.04	88,959	4,117,910	reduced	-3.46

AIG	american international group i	0.46	494,273	42,285,100	new

ALL	the allstate corp.	0.04	17,556	3,654,280	reduced	-0.16

AMAT	applied materials inc.	0.06	20,110	5,168,070	reduced	-9.39

AMPS	ishares msci india etf	0.02	40,331	2,179,890	added	4.31

AMPS	ishares msci china etf	0.01	15,098	906,937	reduced	-51.7

AOS	a.o. smith corp.	0.00	4,875	326,040	added	25.87