CULLINAN ASSOCIATES INC
CIK 1161670 · View on SEC EDGAR ↗
- Portfolio value
- $1.3B
- Positions
- 204
- As of
- June 30, 2026
#2,025 of 9,443 by 13F value · top 21.4%
Portfolio value QoQ: +7.0% 13F does not disclose cash
- Top 10 holdings weight
- 39.74%
- Top 25 holdings weight
- 63.16%
- Positions above 1%
- 24
- Effective number of positions
- 39.6
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 6.32% Est. buys $80,884,951 · sells $119,433,045
Median holding: 7.0 quarters Tracked Q4 2024–Q2 2026 · 82.6% still held
- New positions
- 7
- Increased
- 38
- Decreased
- 73
- Closed
- 10
On this page
- Performance vs S&P How this manager's 13F portfolio performed against the S&P 500.
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Performance vs S&P 500
Annualized: +14.1% · S&P 500: +18.0%
Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.
Priceable coverage: 97.9% · Options excluded: 0.0%
Sector breakdown
Technology
26.6%
Healthcare
10.5%
Communication Services
8.0%
Consumer Staples
7.9%
Financial Services
7.7%
Industrials
7.6%
Retail
6.5%
Financials
6.0%
Consumer products
2.8%
Consumer Discretionary
2.0%
Energy
1.7%
Utilities
1.4%
Communications
0.9%
Materials
0.7%
Logistics & Transportation
0.4%
Real Estate
0.3%
Telecommunication
0.0%
Other/Unmapped
9.0%
Full portfolio 204 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| AAPL Apple Inc. - Common Stock | $110,577,542 | 8.36% | 382,145 | $8,831,557 | Down ×6 | ||
| KO Coca-Cola Company (The) Common Stock | $92,077,271 | 6.96% | 1,132,980 | $-7,775,414 | Down ×4 | ||
| MSFT Microsoft Corporation - Common Stock | $52,091,902 | 3.94% | 139,649 | $-5,805,244 | Down ×2 | ||
| SPGI S&P Global Inc. Common Stock | $49,482,090 | 3.74% | 121,500 | $-2,366,856 | Down ×2 | ||
| JNJ Johnson & Johnson Common Stock | $44,959,864 | 3.40% | 177,028 | $217,987 | Down ×2 | ||
| GOOG Alphabet Inc. - Class C Capital Stock | $41,833,332 | 3.16% | 118,397 | $14,233,286 | Up ×1 | ||
| SPY SPY | $38,520,950 | 2.91% | 51,583 | $5,231,074 | Up ×1 | ||
| AMAT Applied Materials, Inc. - Common Stock | $33,574,236 | 2.54% | 46,437 | $15,985,246 | Down ×6 | ||
| PG Procter & Gamble Company (The) Common Stock | $32,582,088 | 2.46% | 222,191 | $-19,898 | Down ×5 | ||
| AMZN Amazon.com, Inc. - Common Stock | $30,091,140 | 2.27% | 126,253 | $5,566,723 | Up ×1 | ||
| GOOGL Alphabet Inc. - Class A Common Stock | $30,081,162 | 2.27% | 84,174 | $245,665 | Down ×2 | ||
| Unknown issuer (CUSIP: 30233Q108) | $28,782,974 | 2.18% | 210,525 | Up ×1 | |||
| LRCXXXXX | $27,949,785 | 2.11% | 64,500 | $14,168,715 | |||
| VRTX Vertex Pharmaceuticals Incorporated - Common Stock | $25,711,738 | 1.94% | 51,762 | $2,597,935 | |||
| IBM International Business Machines Corporation Common Stock | $25,351,012 | 1.92% | 90,150 | $1,925,291 | Down ×3 | ||
| JPM JP Morgan Chase & Co. Common Stock | $24,103,981 | 1.82% | 73,638 | $5,091,607 | Up ×1 | ||
| TXN Texas Instruments Incorporated - Common Stock | $18,683,922 | 1.41% | 62,683 | $5,653,828 | Down ×5 | ||
| NVDA NVIDIA Corporation - Common Stock | $18,204,991 | 1.38% | 90,984 | $7,841,271 | Up ×1 | ||
| KLAC KLA Corporation - Common Stock | $17,994,838 | 1.36% | 59,643 | $7,406,321 | Up ×1 | ||
| ABBV AbbVie Inc. Common Stock | $17,312,832 | 1.31% | 68,800 | $1,337,104 | Down ×6 | ||
| WMT Walmart Inc. - Common Stock | $16,206,090 | 1.22% | 143,088 | $-1,469,159 | Up ×1 | ||
| AFL AFLAC Incorporated Common Stock | $16,181,158 | 1.22% | 138,006 | $1,001,835 | Down ×2 | ||
| CAT Caterpillar, Inc. Common Stock | $16,110,063 | 1.22% | 15,128 | $4,212,724 | Down ×4 | ||
| QLYS Qualys, Inc. - Common Stock | $14,133,972 | 1.07% | 102,800 | $5,102,992 | |||
| MCD McDonald's Corporation Common Stock | $13,143,277 | 0.99% | 48,623 | $-4,463,280 | Down ×6 | ||
| AXP American Express Company Common Stock | $13,122,747 | 0.99% | 38,796 | $860,208 | Down ×4 | ||
| LOW Lowe's Companies, Inc. Common Stock | $12,641,574 | 0.96% | 57,334 | $-1,933,830 | Down ×5 | ||
| DE Deere & Company Common Stock | $12,417,644 | 0.94% | 19,576 | $698,751 | Down ×2 | ||
| CVX Chevron Corporation Common Stock | $11,855,941 | 0.90% | 71,525 | $-4,780,475 | Down ×6 | ||
| ORCL Oracle Corporation Common Stock | $11,794,344 | 0.89% | 80,480 | $-829,018 | Down ×2 | ||
| META Meta Platforms, Inc. - Class A Common Stock | $11,559,274 | 0.87% | 20,521 | $183,696 | Up ×1 | ||
| CSCO Cisco Systems, Inc. - Common Stock | $11,473,355 | 0.87% | 97,679 | $3,631,101 | Down ×1 | ||
| V Visa Inc. | $10,833,111 | 0.82% | 31,575 | $2,507,910 | Up ×2 | ||
| SO Southern Company (The) Common Stock | $9,855,483 | 0.74% | 102,972 | $-113,522 | Down ×3 | ||
| HD Home Depot, Inc. (The) Common Stock | $9,771,352 | 0.74% | 27,706 | $799,891 | Up ×1 | ||
| QCOM QUALCOMM Incorporated - Common Stock | $9,192,257 | 0.69% | 49,744 | $2,306,089 | Down ×1 | ||
| COST Costco Wholesale Corporation - Common Stock | $9,172,312 | 0.69% | 9,805 | $-839,848 | Down ×2 | ||
| UBER Uber Technologies, Inc. Common Stock | $9,151,620 | 0.69% | 126,824 | $29,170 | |||
| AMGN Amgen Inc. - Common Stock | $8,795,124 | 0.66% | 24,288 | $-182,635 | Down ×6 | ||
| LMT Lockheed Martin Corporation Common Stock | $8,465,437 | 0.64% | 16,616 | $-2,398,165 | Down ×6 | ||
| LLY Eli Lilly and Company Common Stock | $8,234,813 | 0.62% | 6,866 | $1,817,021 | Down ×3 | ||
| ECL Ecolab Inc. Common Stock | $8,073,834 | 0.61% | 28,979 | $2,134,676 | Up ×1 | ||
| Unknown issuer (CUSIP: 113809107) | $7,906,240 | 0.60% | 15,940 | $1,467,230 | Up ×2 | ||
| TJX TJX Companies, Inc. (The) Common Stock | $7,851,507 | 0.59% | 51,825 | $-338,089 | Up ×1 | ||
| TRV The Travelers Companies, Inc. Common Stock | $7,809,599 | 0.59% | 23,657 | $489,641 | Down ×2 | ||
| BAC Bank of America Corporation Common Stock | $7,679,148 | 0.58% | 134,769 | $526,304 | Down ×2 | ||
| DIS Walt Disney Company (The) Common Stock | $7,436,937 | 0.56% | 77,267 | $-560,856 | Down ×2 | ||
| INTC Intel Corporation - Common Stock | $7,370,928 | 0.56% | 52,789 | $4,833,938 | Down ×1 | ||
| NYT New York Times Company (The) Common Stock | $7,233,623 | 0.55% | 103,367 | $-1,363,104 | Up ×1 | ||
| EMR Emerson Electric Company Common Stock | $6,978,605 | 0.53% | 48,750 | $179,021 | Down ×6 | ||
| GS Goldman Sachs Group, Inc. (The) Common Stock | $6,564,873 | 0.50% | 6,491 | $-18,680 | Down ×6 | ||
| ABNB Airbnb, Inc. - Class A Common Stock | $6,270,642 | 0.47% | 43,820 | $-500,744 | Down ×3 | ||
| CME CME Group Inc. - Class A Common Stock | $6,160,495 | 0.47% | 27,897 | $-2,902,910 | Down ×2 | ||
| NSC Norfolk Southern Corporation Common Stock | $6,103,046 | 0.46% | 19,400 | $535,246 | |||
| MRK Merck & Company, Inc. Common Stock (new) | $5,990,628 | 0.45% | 46,620 | $211,334 | Down ×2 | ||
| WFC Wells Fargo & Company Common Stock | $5,815,762 | 0.44% | 70,375 | $-23,321 | Down ×1 | ||
| FAST Fastenal Company - Common Stock | $5,653,227 | 0.43% | 117,702 | $-63,067 | Down ×1 | ||
| PM Philip Morris International Inc Common Stock | $5,310,613 | 0.40% | 29,355 | $457,057 | |||
| ASML ASML Holding N.V. - New York Registry Shares | $5,172,544 | 0.39% | 2,600 | $1,738,386 | |||
| PRU Prudential Financial, Inc. Common Stock | $4,846,540 | 0.37% | 44,904 | $436,962 | Down ×5 | ||
| UPS United Parcel Service, Inc. Common Stock | $4,829,652 | 0.37% | 44,927 | $-4,298,930 | Down ×1 | ||
| CVS CVS Health Corporation Common Stock | $4,802,583 | 0.36% | 46,424 | $1,123,158 | Down ×1 | ||
| DUK Duke Energy Corporation (Holding Company) Common Stock | $4,677,558 | 0.35% | 36,953 | $659,271 | Up ×3 | ||
| AVGO Broadcom Inc. - Common Stock | $4,523,767 | 0.34% | 11,976 | $880,104 | Up ×2 | ||
| VOO | $4,464,265 | 0.34% | 6,500 | $580,190 | |||
| CL Colgate-Palmolive Company Common Stock | $4,427,136 | 0.33% | 48,289 | $315,726 | Up ×2 | ||
| PEP PepsiCo, Inc. - Common Stock | $4,349,184 | 0.33% | 32,121 | $-626,775 | Up ×1 | ||
| AESI Atlas Energy Solutions Inc. Common Stock | $4,185,720 | 0.32% | 252,000 | $879,480 | |||
| HPQ HP Inc. Common Stock | $4,153,835 | 0.31% | 189,327 | $527,237 | Up ×2 | ||
| UNP Union Pacific Corporation Common Stock | $4,150,720 | 0.31% | 15,260 | $448,339 | |||
| AJG Arthur J. Gallagher & Co. Common Stock | $4,017,475 | 0.30% | 17,500 | Up ×1 | |||
| MA Mastercard Incorporated Common Stock | $3,903,360 | 0.29% | 7,600 | $105,944 | |||
| YUM Yum! Brands, Inc. | $3,725,679 | 0.28% | 23,306 | $-92,270 | Down ×2 | ||
| PYPL PayPal Holdings, Inc. - Common Stock | $3,543,912 | 0.27% | 82,073 | $-1,468,477 | Down ×1 | ||
| IWF | $3,409,708 | 0.26% | 27,460 | $461,152 | Up ×1 | ||
| MDT Medtronic plc. Ordinary Shares | $3,376,172 | 0.26% | 43,157 | $-359,916 | Up ×1 | ||
| PLD Prologis, Inc. Common Stock | $3,156,825 | 0.24% | 23,303 | $-75,913 | Down ×1 | ||
| RTX RTX Corporation Common Stock | $2,951,895 | 0.22% | 15,558 | $-29,953 | Up ×1 | ||
| MS Morgan Stanley Common Stock | $2,839,723 | 0.21% | 13,585 | $322,625 | Down ×4 | ||
| OKTA Okta, Inc. - Class A Common Stock | $2,838,160 | 0.21% | 20,800 | $610,667 | Down ×1 | ||
| TFC Truist Financial Corporation Common Stock | $2,614,304 | 0.20% | 52,475 | $65,957 | Down ×2 | ||
| CMCSA Comcast Corporation - Class A Common Stock | $2,604,460 | 0.20% | 106,088 | $-441,326 | |||
| ITW Illinois Tool Works Inc. Common Stock | $2,473,989 | 0.19% | 9,147 | $-265,824 | Down ×5 | ||
| ABT Abbott Laboratories Common Stock | $2,395,536 | 0.18% | 26,400 | $-325,219 | Down ×6 | ||
| BMY Bristol-Myers Squibb Company Common Stock | $2,315,748 | 0.18% | 40,190 | $-244,834 | Down ×6 | ||
| SWK Stanley Black & Decker, Inc. Common Stock | $2,315,352 | 0.17% | 24,600 | $567,276 | |||
| ADP Automatic Data Processing, Inc. - Common Stock | $2,306,685 | 0.17% | 10,300 | $213,931 | |||
| COP ConocoPhillips Common Stock | $2,228,071 | 0.17% | 21,432 | $-600,953 | |||
| ADI Analog Devices, Inc. - Common Stock | $2,164,354 | 0.16% | 5,449 | $422,715 | Down ×4 | ||
| AMD Advanced Micro Devices, Inc. - Common Stock | $2,160,404 | 0.16% | 3,719 | $1,403,848 | |||
| NOC Northrop Grumman Corporation Common Stock | $2,123,823 | 0.16% | 4,170 | $-721,118 | |||
| USB U.S. Bancorp Common Stock | $2,110,980 | 0.16% | 34,950 | $293,231 | |||
| UBS UBS Group AG Registered Ordinary Shares | $2,002,571 | 0.15% | 40,407 | $423,870 | |||
| EA Electronic Arts Inc. - Common Stock | $2,002,011 | 0.15% | 9,764 | $-75,220 | Down ×6 | ||
| CARR Carrier Global Corporation Common Stock | $1,983,751 | 0.15% | 27,045 | $367,654 | Down ×1 | ||
| ISRG Intuitive Surgical, Inc. - Common Stock | $1,948,632 | 0.15% | 4,900 | $-310,219 | |||
| GE GE Aerospace Common Stock | $1,934,472 | 0.15% | 5,176 | $451,490 | Down ×4 | ||
| CMI Cummins Inc. Common Stock | $1,927,407 | 0.15% | 2,702 | $-401,918 | Down ×4 | ||
| NEE NextEra Energy, Inc. Common Stock | $1,882,228 | 0.14% | 21,445 | $-99,367 | Up ×1 | ||
| SYK Stryker Corporation Common Stock | $1,819,775 | 0.14% | 5,780 | $-347,276 | Down ×2 | ||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
| Security | Value | % of portfolio | Streak |
|---|---|---|---|
| DUK | $4,677,558 | 0.35% | up ×3 |
Biggest new bets
New positions opened this quarter, largest first.
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| AMAT | Trimmed | -5K | +$16.0M |
| GOOG | Bought more | +22K | +$14.2M |
| LRCXXXXX | Price move only | +0 | +$14.2M |
| AAPL | Trimmed | -19K | +$8.8M |
| NVDA | Bought more | +32K | +$7.8M |
| KO | Trimmed | -180K | -$7.8M |
| KLAC | Bought more | +52K | +$7.4M |
| MSFT | Trimmed | -17K | -$5.8M |
| TXN | Trimmed | -4K | +$5.7M |
| AMZN | Bought more | +8K | +$5.6M |
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| XOM | June 30, 2026 | 225,933 | $38,331,710 | 21.7% |
| WST | March 31, 2025 | 30,000 | $9,826,800 | 57.6% |
| CHRW | March 31, 2026 | 50,300 | $8,086,228 | -12.8% |
| MSTR | March 31, 2025 | 10,000 | $2,896,200 | -58.2% |
| HIMS | Sept. 30, 2025 | 56,200 | $2,801,570 | -42.9% |
| DT | June 30, 2026 | 54,500 | $2,015,410 | 9.7% |
| BRO | June 30, 2025 | 12,500 | $1,555,000 | -35.1% |
| FSLR | June 30, 2026 | 7,500 | $1,479,450 | -8.9% |
| DOV | Dec. 31, 2025 | 4,700 | $784,101 | 3.3% |
| VRT | Sept. 30, 2025 | 5,800 | $744,778 | 75.2% |
| SHW | Dec. 31, 2025 | 1,900 | $657,894 | 7.4% |
| SYY | June 30, 2026 | 8,500 | $606,305 | 0.6% |
| DOW | June 30, 2025 | 17,022 | $594,394 | 24.0% |
| WSM | June 30, 2026 | 2,700 | $492,291 | 1.5% |
| GLD | Sept. 30, 2025 | 1,400 | $426,762 | No longer tracked |
| MU | March 31, 2025 | 4,700 | $395,552 | 1033.2% |
| PBR | March 31, 2026 | 33,200 | $393,420 | -7.6% |
| AMT | March 31, 2026 | 2,200 | $386,254 | 2.4% |
| RY | June 30, 2025 | 3,400 | $383,248 | 57.8% |
| SEE | Dec. 31, 2025 | 8,900 | $314,615 | No longer tracked |
| ZTS | June 30, 2026 | 2,500 | $295,525 | 6.6% |
| DOCU | March 31, 2026 | 4,300 | $294,120 | 28.5% |
| STZ | March 31, 2025 | 1,330 | $293,930 | -26.8% |
| CNI | Sept. 30, 2025 | 2,800 | $291,312 | 37.6% |
| KMI | March 31, 2025 | 10,500 | $287,700 | 10.6% |
| APPF | March 31, 2026 | 1,200 | $279,180 | 36.3% |
| MET | March 31, 2026 | 3,308 | $261,134 | 33.8% |
| T | June 30, 2026 | 8,900 | $258,011 | 22.6% |
| KHC | March 31, 2026 | 10,408 | $252,394 | 13.3% |
| BDX | June 30, 2025 | 1,100 | $251,966 | 39.4% |
| PLTR | June 30, 2026 | 1,700 | $248,676 | 48.3% |
| AEM | June 30, 2026 | 1,200 | $243,576 | 39.8% |
| PAYX | June 30, 2025 | 1,536 | $237,042 | -16.1% |
| RMD | March 31, 2025 | 1,000 | $228,690 | 2.7% |
| OKLO | Dec. 31, 2025 | 2,000 | $223,260 | -40.1% |
| CIXXXX | March 31, 2025 | 800 | $220,912 | No longer tracked |
| IP | June 30, 2025 | 4,106 | $219,055 | -12.7% |
| FBIN | March 31, 2025 | 3,200 | $218,656 | -25.9% |
| GLW | March 31, 2026 | 2,470 | $216,273 | 12.9% |
| BDX | March 31, 2026 | 1,113 | $216,000 | 20.1% |
| TMUS | June 30, 2025 | 800 | $213,368 | -23.2% |
| FDX | March 31, 2025 | 750 | $210,997 | 35.1% |
| ASML | March 31, 2025 | 300 | $207,924 | 164.8% |
| LEVI | March 31, 2026 | 10,000 | $207,400 | 16.7% |
| EXC | June 30, 2025 | 4,500 | $207,360 | 3.3% |
| OTIS | June 30, 2025 | 2,000 | $206,400 | -27.4% |
| DOW | June 30, 2026 | 4,908 | $204,418 | 20.0% |
| EXC | Dec. 31, 2025 | 4,500 | $202,545 | 2.9% |
| AEP | Dec. 31, 2025 | 1,800 | $202,500 | 7.1% |
| DEO | Dec. 31, 2025 | 2,100 | $200,403 | 8.1% |
| SNAP | June 30, 2025 | 11,500 | $100,165 | -39.3% |