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CULLEN/FROST BANKERS, INC.

111 W HOUSTON ST, SAN ANTONIO, TX 78205 • 210-220-4011

Q2 2025 · Filed 2025-07-30
Market Value
$7.9B
+11.8%
Holdings
1,418
-64
New Purchases
169
Added To
578
Closed
145
Reduced
313
Top 10 Concentration
29.6%
Turnover
22.1%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
PVAL 1.26% 0.00% +1.26% $100M
MSFT 5.93% 5.05% +0.88% $471M
NVDA 3.10% 2.36% +0.74% $246M
AVGO 1.82% 1.25% +0.58% $145M
IWP 1.67% 1.37% +0.30% $133M
ORCL 0.93% 0.64% +0.29% $74M
META 1.91% 1.64% +0.27% $152M
NFLX 0.59% 0.44% +0.15% $47M
EFA 2.08% 1.96% +0.12% $165M
VUG 3.18% 3.06% +0.12% $253M
ETN 0.69% 0.57% +0.12% $55M
VB 1.63% 1.52% +0.11% $129M
NOW 0.81% 0.72% +0.10% $65M
EMXC 2.00% 1.91% +0.10% $159M
AMZN 2.72% 2.64% +0.09% $216M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AAPL 4.93% 5.94% -1.01% $392M
UNH 0.43% 0.77% -0.34% $34M
SCHD 1.33% 1.61% -0.28% $106M
TLT 0.31% 0.57% -0.26% $25M
ABBV 0.93% 1.13% -0.21% $74M
LLY 1.02% 1.19% -0.18% $81M
XOM 0.68% 0.86% -0.17% $54M
BRK-B 0.85% 1.02% -0.17% $68M
V 1.59% 1.75% -0.16% $126M
JNJ 0.64% 0.80% -0.16% $51M
OTIS 0.01% 0.16% -0.15% $691K
DHI 0.02% 0.15% -0.13% $2M
PG 0.62% 0.73% -0.11% $49M
MA 1.16% 1.27% -0.11% $92M
AJG 0.52% 0.63% -0.11% $41M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 41.9%
Technology 21.4%
Healthcare 7.1%
Communication Services 7.1%
Consumer Cyclical 6.7%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 79 $4.1B 51.7%
Large Cap 772 $3.5B 43.4%
Mid Cap 359 $340M 4.3%
Small Cap 175 $44M 0.6%
Micro Cap 33 $1M 0.0%

Portfolio Analytics

Avg Market Cap
$71.8B
Median Market Cap
$14.9B
Avg P/E
32.0
Median P/E
21.9
Avg Dividend Yield
0.02%
Avg Beta
0.96
# Stocks
1,079
# ETFs / Funds
339

Top Holdings (1,418 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 MSFT 5.93% 946,747 $471M $497.41 $112M -8,467 -0.9%
2 AAPL 4.93% 1,910,139 $392M $205.17 -$30M +10,393 +0.6%
3 VUG 3.18% 576,028 $253M $438.40 $35M -10,133 -1.7%
4 NVDA 3.10% 1,558,710 $246M $157.99 $78M +10,194 +0.7%
5 AMZN 2.72% 985,594 $216M $219.39 $29M +1,658 +0.2%
6 EFA 2.08% 1,847,040 $165M $89.39 $26M +145,141 +8.5%
7 EMXC 2.00% 2,518,698 $159M $63.14 $24M +61,558 +2.5%
8 META 1.91% 205,652 $152M $738.09 $35M +3,728 +1.9%
9 IWF 1.89% 354,183 $150M $424.58 $18M -12,007 -3.3%
10 AVGO 1.82% 525,269 $145M $275.65 $56M -3,574 -0.7%
11 IWP 1.67% 956,036 $133M $138.68 $36M +130,679 +15.8%
12 VB 1.63% 546,104 $129M $236.98 $22M +60,620 +12.5%
13 V 1.59% 356,203 $126M $355.05 $2M +915 +0.3%
14 SPY 1.52% 195,543 $121M $617.85 $12M +1,859 +1.0%
15 VO 1.49% 423,957 $119M $279.83 $13M +13,599 +3.3%
16 GOOGL 1.43% 645,799 $114M $176.23 $13M -4,824 -0.7%
17 JPM 1.37% 376,735 $109M $289.91 $17M -865 -0.2%
18 SCHD 1.33% 3,987,951 $106M $26.50 -$9M -102,786 -2.5%
19 IJJ 1.29% 831,931 $103M $123.58 $14M +90,152 +12.2%
20 PVAL 1.26% 2,482,578 $100M $40.23 +2,482,578 NEW
21 GOOG 1.21% 540,599 $96M $177.39 $8M -23,194 -4.1%
22 MA 1.16% 164,065 $92M $561.94 $2M -775 -0.5%
23 COST 1.15% 92,237 $91M $989.94 $2M -1,882 -2.0%
24 LLY 1.02% 103,839 $81M $779.53 -$4M +1,075 +1.1%
25 HD 0.98% 212,000 $78M $366.64 $980K +2,588 +1.2%
26 ORCL 0.93% 337,345 $74M $218.63 $29M +14,441 +4.5%
27 ABBV 0.93% 396,225 $74M $185.62 -$7M +11,730 +3.0%
28 IWD 0.92% 376,947 $73M $194.23 $6M +17,700 +4.9%
29 BRK-B 0.85% 139,143 $68M $485.77 -$5M +3,137 +2.3%
30 NOW 0.81% 62,957 $65M $1,028.08 $14M -1,108 -1.7%
31 ETN 0.69% 153,401 $55M $356.99 $14M +4,237 +2.8%
32 XOM 0.68% 503,355 $54M $107.80 -$7M -9,163 -1.8%
33 JNJ 0.64% 334,983 $51M $152.75 -$6M -9,664 -2.8%
34 PG 0.62% 309,801 $49M $159.32 -$3M +4,097 +1.3%
35 WMT 0.62% 503,602 $49M $97.78 $6M +11,419 +2.3%
36 PM 0.62% 269,968 $49M $182.13 $5M -6,659 -2.4%
37 NFLX 0.59% 35,288 $47M $1,339.13 $16M +1,445 +4.3%
38 BAC 0.59% 990,527 $47M $47.32 $6M +6,590 +0.7%
39 AGG 0.59% 468,528 $46M $99.20 $3M +28,526 +6.5%
40 KO 0.57% 644,460 $46M $70.75 $605K +16,280 +2.6%
41 BKNG 0.55% 7,543 $44M $5,789.33 $8M -184 -2.4%
42 CVX 0.55% 304,492 $44M $143.19 -$2M +30,990 +11.3%
43 AXP 0.55% 136,429 $44M $318.98 $7M +61 +0.0%
44 GLW 0.54% 814,925 $43M $52.59 $7M +23,776 +3.0%
45 ISRG 0.54% 78,606 $43M $543.41 $4M +1,224 +1.6%
46 AJG 0.52% 129,276 $41M $320.12 -$3M +46 +0.0%
47 VEU 0.51% 604,707 $41M $67.22 $5M +12,017 +2.0%
48 UNP 0.50% 173,834 $40M $230.08 -$1M -513 -0.3%
49 CSCO 0.49% 564,875 $39M $69.38 $7M +44,273 +8.5%
50 BSX 0.49% 361,002 $39M $107.41 $2M +203 +0.1%
51 QCOM 0.48% 237,313 $38M $159.26 $3M +10,055 +4.4%
52 VWO 0.46% 744,286 $37M $49.46 $2M -26,700 -3.5%
53 UNH 0.43% 108,986 $34M $311.97 -$20M +4,955 +4.8%
54 ORLY 0.42% 368,793 $33M $90.13 -$2M +344,200 +1399.6%
55 SPOT 0.41% 41,941 $32M $767.33 $8M -1,510 -3.5%
56 CMG 0.40% 563,325 $32M $56.15 $3M -15,037 -2.6%
57 MCO 0.39% 62,484 $31M $501.59 $3M +566 +0.9%
58 VOO 0.37% 52,293 $30M $568.03 $4M +2,055 +4.1%
59 GLTR 0.37% 214,960 $30M $138.15 -$126K -15,382 -6.7%
60 DIS 0.37% 234,714 $29M $124.01 $7M +5,972 +2.6%
61 BSV 0.36% 364,245 $29M $78.70 $495K +4,364 +1.2%
62 MCD 0.36% 97,457 $28M $292.17 -$813K +3,698 +3.9%
63 ETR 0.36% 341,308 $28M $83.12 $289K +12,848 +3.9%
64 LOW 0.36% 127,696 $28M $221.87 -$1M +725 +0.6%
65 TXN 0.36% 136,385 $28M $207.62 $5M +6,628 +5.1%
66 ADP 0.35% 91,062 $28M $308.40 $440K +583 +0.6%
67 SHW 0.35% 81,020 $28M $343.36 -$680K -596 -0.7%
68 AMGN 0.34% 95,895 $27M $279.21 -$3M -93 -0.1%
69 HON 0.33% 111,462 $26M $232.88 -$2M -19,211 -14.7%
70 DHR 0.32% 130,114 $26M $197.54 -$2M -4,106 -3.1%
71 AEP 0.32% 243,980 $25M $103.76 -$881K +4,242 +1.8%
72 IBM 0.32% 85,629 $25M $294.78 $4M +370 +0.4%
73 SYK 0.32% 63,721 $25M $395.63 $2M +2,485 +4.1%
74 GE 0.31% 96,516 $25M $257.39 $6M +2,865 +3.1%
75 TLT 0.31% 280,436 $25M $88.25 -$16M -162,280 -36.7%
76 TRV 0.31% 91,159 $24M $267.54 $355K +279 +0.3%
77 MDT 0.30% 276,901 $24M $87.17 -$1M -7,360 -2.6%
78 CB 0.30% 82,576 $24M $289.72 -$913K +332 +0.4%
79 CRM 0.30% 87,439 $24M $272.69 $534K +580 +0.7%
80 ABT 0.29% 171,265 $23M $136.01 $817K +1,818 +1.1%
81 CMI 0.29% 69,940 $23M $327.50 $1M +679 +1.0%
82 KLAC 0.29% 25,341 $23M $895.75 $6M +418 +1.7%
83 VZ 0.28% 516,737 $22M $43.27 -$742K +7,453 +1.5%
84 ICE 0.28% 121,179 $22M $183.47 $2M +3,505 +3.0%
85 BX 0.28% 147,094 $22M $149.58 $2M +4,132 +2.9%
86 UBER 0.28% 235,237 $22M $93.30 $5M +978 +0.4%
87 ADBE 0.27% 56,324 $22M $386.88 -$159K -907 -1.6%
88 CME 0.27% 76,617 $21M $275.62 $1M +1,617 +2.2%
89 COP 0.27% 234,928 $21M $89.74 -$3M +5,410 +2.4%
90 VLO 0.26% 155,423 $21M $134.42 $841K +3,605 +2.4%
91 IVW 0.26% 189,534 $21M $110.10 $3M -431 -0.2%
92 EVRG 0.26% 297,079 $20M $68.93 $1M +18,283 +6.6%
93 TMUS 0.26% 85,225 $20M $238.26 -$2M +2,591 +3.1%
94 MRVL 0.25% 261,011 $20M $77.40 $4M -2,983 -1.1%
95 HES 0.25% 145,045 $20M $138.54 -$2M +6,230 +4.5%
96 ADI 0.25% 84,401 $20M $238.02 $4M +3,810 +4.7%
97 WDAY 0.25% 82,916 $20M $240.00 $560K +102 +0.1%
98 KKR 0.25% 149,333 $20M $133.03 $2M -2,125 -1.4%
99 TSLA 0.25% 61,576 $20M $317.66 $4M +2,361 +4.0%
100 MRK 0.24% 242,663 $19M $79.16 -$3M -8,890 -3.5%

New Positions

SymbolValue% Port
PVAL $100M 1.26%
B $683K 0.01%
AAON $201K —%
IBIT $200K —%
MGK $146K —%
PFLD $145K —%
RAL $144K —%
EEMA $143K —%
EDV $134K —%
DIA $132K —%
RTM $119K —%
EQT $110K —%
SPLG $109K —%
BILS $99K —%
FXI $95K —%

Sold Out Positions

SymbolValue% Port
NVT —%
ARW —%
DECK —%
JHG —%
HMC —%
TSLX —%
SA —%
SHV —%
TFII —%
RYAM —%
HPI —%
PSF —%
VET —%
ADC —%
GGB —%
View SEC EDGAR Filings for CULLEN/FROST BANKERS, INC. →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms