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CULLINAN ASSOCIATES INC

295 N. HUBBARDS LANE SUITE 203, LOUISVILLE, KY 40207 • 5028930300

Q1 2026 · Filed 2026-05-01
Market Value
$1.2B
-16.3%
Holdings
209
-1
New Purchases
6
Added To
29
Closed
10
Reduced
89
Top 10 Concentration
42.7%
Turnover
7.7%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
KO 8.24% 6.60% +1.64% $100M
XOM 3.16% 2.09% +1.07% $38M
JNJ 3.69% 2.78% +0.92% $45M
AMAT 1.45% 1.05% +0.40% $18M
VRTX 1.91% 1.61% +0.30% $23M
CVX 1.37% 1.11% +0.26% $17M
DE 0.97% 0.73% +0.23% $12M
LMT 0.90% 0.67% +0.23% $11M
UPS 0.75% 0.54% +0.22% $9M
AFL 1.25% 1.08% +0.17% $15M
WFC 0.48% 0.32% +0.16% $6M
TXN 1.08% 0.91% +0.16% $13M
KLAC 0.87% 0.72% +0.16% $11M
CSCO 0.65% 0.51% +0.14% $8M
FAST 0.47% 0.34% +0.13% $6M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
WMT 1.46% 4.01% -2.55% $18M
MSFT 4.78% 5.94% -1.16% $58M
EA 0.17% 1.00% -0.83% $2M
CHRW 0.00% 0.56% -0.56% $0
IBM 1.93% 2.44% -0.50% $23M
ORCL 1.04% 1.52% -0.48% $13M
GOOGL 2.46% 2.74% -0.28% $30M
TSLA 0.10% 0.36% -0.27% $1M
GS 0.54% 0.76% -0.22% $7M
CAT 0.98% 1.20% -0.22% $12M
NVDA 0.86% 1.06% -0.21% $10M
QLYS 0.75% 0.94% -0.20% $9M
DT 0.17% 0.33% -0.16% $2M
TEAM 0.05% 0.20% -0.15% $618K
CMI 0.19% 0.33% -0.14% $2M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Technology 25.8%
Financial Services 17.6%
Consumer Defensive 14.7%
Healthcare 10.9%
Industrials 7.9%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 55 $817M 67.4%
Large Cap 138 $377M 31.1%
Mid Cap 13 $17M 1.4%
Small Cap 3 $783K 0.1%

Portfolio Analytics

Avg Market Cap
$297.6B
Median Market Cap
$99.7B
Avg P/E
35.1
Median P/E
25.6
Avg Dividend Yield
0.02%
Avg Beta
0.92
# Stocks
201
# ETFs / Funds
8

Top Holdings (209 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 AAPL 8.40% 400,906 $102M $253.79 -$20M -45,850 -10.3%
2 KO 8.24% 1,312,987 $100M $76.05 $4M -52,759 -3.9%
3 MSFT 4.78% 156,407 $58M $370.17 -$28M -21,338 -12.0%
4 SPGI 4.28% 121,900 $52M $425.34 -$12M -40 -0.0%
5 JNJ 3.69% 183,038 $45M $244.44 $5M -11,067 -5.7%
6 XOM 3.16% 225,933 $38M $169.66 $8M -25,671 -10.2%
7 SPY 2.75% 51,188 $33M $650.35 -$5M -5,673 -10.0%
8 PG 2.69% 225,713 $33M $144.44 -$5M -33,337 -12.9%
9 GOOGL 2.46% 103,754 $30M $287.56 -$10M -22,974 -18.1%
10 GOOG 2.28% 96,214 $28M $286.86 -$4M -5,200 -5.1%
11 AMZN 2.02% 117,753 $25M $208.27 -$6M -12,960 -9.9%
12 IBM 1.93% 96,645 $23M $242.39 -$12M -22,461 -18.9%
13 VRTX 1.91% 51,762 $23M $446.54 -$149K +450 +0.9%
14 JPM 1.57% 64,633 $19M $294.16 -$3M -4,983 -7.2%
15 WMT 1.46% 142,221 $18M $124.28 -$40M -378,782 -72.7%
16 MCD 1.45% 56,651 $18M $310.79 -$2M -7,617 -11.8%
17 AMAT 1.45% 51,461 $18M $341.79 $2M -7,527 -12.8%
18 CVX 1.37% 80,408 $17M $206.90 $524K -25,309 -23.9%
19 ABBV 1.32% 73,455 $16M $217.49 -$3M -9,920 -11.9%
20 AFL 1.25% 138,359 $15M $109.71 -$498K -3,815 -2.7%
21 LOW 1.20% 61,687 $15M $236.28 -$2M -5,341 -8.0%
22 TXN 1.08% 67,117 $13M $194.14 -$208K -9,185 -12.0%
23 ORCL 1.04% 85,809 $13M $147.11 -$9M -27,432 -24.2%
24 AXP 1.01% 40,540 $12M $302.48 -$4M -2,740 -6.3%
25 CAT 0.98% 16,793 $12M $708.47 -$5M -13,496 -44.6%
26 DE 0.97% 20,804 $12M $563.30 $1M -2,030 -8.9%
27 META 0.94% 19,883 $11M $572.13 -$3M -1,245 -5.9%
28 LMT 0.90% 17,974 $11M $604.41 $1M -1,974 -9.9%
29 KLAC 0.87% 7,191 $11M $1,472.47 $234K -1,330 -15.6%
30 NVDA 0.86% 59,425 $10M $174.40 -$5M -23,075 -28.0%
31 COST 0.83% 10,048 $10M $996.43 -$2M -3,669 -26.8%
32 SO 0.82% 103,284 $10M $96.52 -$1M -26,493 -20.4%
33 UPS 0.75% 92,789 $9M $98.38 $1M +14,488 +18.5%
34 UBER 0.75% 126,824 $9M $71.93 -$971K +3,300 +2.7%
35 CME 0.75% 30,687 $9M $295.35 -$2M -8,066 -20.8%
36 QLYS 0.75% 102,800 $9M $87.85 -$5M
37 AMGN 0.74% 25,516 $9M $351.85 -$1M -5,627 -18.1%
38 HD 0.74% 27,278 $9M $328.89 -$1M -2,723 -9.1%
39 NYT 0.71% 102,672 $9M $83.73 -$1M -42,638 -29.3%
40 V 0.69% 27,545 $8M $302.24 -$1M +500 +1.9%
41 TJX 0.68% 51,281 $8M $159.70 -$249K -3,656 -6.7%
42 DIS 0.66% 82,982 $8M $96.38 -$2M -2,200 -2.6%
43 CSCO 0.65% 101,073 $8M $77.59 $476K +5,448 +5.7%
44 TRV 0.60% 25,096 $7M $291.68 -$186K -780 -3.0%
45 BAC 0.59% 146,725 $7M $48.75 -$1M -9,646 -6.2%
46 QCOM 0.57% 53,472 $7M $128.78 -$690K +9,178 +20.7%
47 EMR 0.56% 51,897 $7M $131.02 -$2M -12,064 -18.9%
48 ABNB 0.56% 53,622 $7M $126.28 -$560K -400 -0.7%
49 GS 0.54% 7,782 $7M $846.00 -$4M -4,743 -37.9%
50 LLY 0.53% 6,978 $6M $919.72 -$2M -1,000 -12.5%
51 ECL 0.49% 22,326 $6M $266.02 -$676K -2,874 -11.4%
52 WFC 0.48% 73,346 $6M $79.61 $1M +23,680 +47.7%
53 MRK 0.48% 48,045 $6M $120.29 $460K -2,489 -4.9%
54 FAST 0.47% 123,196 $6M $46.40 $829K +1,414 +1.2%
55 NSC 0.46% 19,400 $6M $287.00 -$33K
56 PYPL 0.41% 110,820 $5M $45.23 -$464K +17,007 +18.1%
57 PEP 0.41% 32,043 $5M $155.29 $255K -850 -2.6%
58 PM 0.40% 29,355 $5M $165.34 -$2M -15,074 -33.9%
59 PRU 0.36% 45,138 $4M $97.69 -$958K -2,416 -5.1%
60 CL 0.34% 48,239 $4M $85.23 $394K +1,200 +2.5%
61 DUK 0.33% 30,688 $4M $130.94 $543K +1,040 +3.5%
62 VOO 0.32% 6,500 $4M $597.55 -$192K
63 YUM 0.32% 24,556 $4M $155.48 -$1M -7,839 -24.2%
64 MA 0.31% 7,600 $4M $499.66 -$541K
65 MDT 0.31% 43,117 $4M $86.65 -$423K -175 -0.4%
66 UNP 0.31% 15,260 $4M $242.62 -$452K -2,700 -15.0%
67 CVS 0.30% 51,231 $4M $71.82 -$81K +3,844 +8.1%
68 AVGO 0.30% 11,772 $4M $309.52 $570K +2,892 +32.6%
69 HPQ 0.30% 188,787 $4M $19.21 $224K +36,062 +23.6%
70 ASML 0.28% 2,600 $3M $1,320.83 $653K
71 AESI 0.27% 252,000 $3M $13.12 $932K
72 PLD 0.27% 24,457 $3M $132.18 $367K +2,010 +8.9%
73 CMCSA 0.25% 106,088 $3M $28.71 -$125K
74 RTX 0.25% 15,458 $3M $192.90 -$255K -2,192 -12.4%
75 IWF 0.24% 6,915 $3M $426.40 -$324K
76 NOC 0.23% 4,170 $3M $682.24 -$287K -1,322 -24.1%
77 COP 0.23% 21,432 $3M $132.00 $823K
78 ITW 0.23% 10,526 $3M $260.29 -$710K -3,480 -24.9%
79 ABT 0.22% 26,500 $3M $102.67 -$1M -6,040 -18.6%
80 BMY 0.21% 42,219 $3M $60.65 -$190K -8,775 -17.2%
81 TFC 0.21% 55,435 $3M $45.97 -$278K -2,000 -3.5%
82 INTC 0.21% 57,489 $3M $44.13 $456K +1,100 +1.9%
83 MS 0.21% 15,295 $3M $164.57 -$2M -11,449 -42.8%
84 CMI 0.19% 4,329 $2M $538.07 -$2M -4,975 -53.5%
85 ISRG 0.19% 4,900 $2M $460.99 -$516K
86 OKTA 0.18% 28,300 $2M $78.71 -$220K
87 SYK 0.18% 6,595 $2M $328.59 -$836K -1,950 -22.8%
88 ADP 0.17% 10,300 $2M $203.18 -$557K
89 EA 0.17% 10,189 $2M $203.87 -$12M -60,774 -85.6%
90 DT 0.17% 54,500 $2M $36.98 -$3M -54,500 -50.0%
91 NEE 0.16% 21,335 $2M $92.88 $269K
92 HON 0.16% 8,390 $2M $226.03 $260K
93 USB 0.15% 34,950 $2M $52.01 -$47K
94 ROP 0.15% 5,000 $2M $353.86 -$456K
95 PSX 0.14% 9,639 $2M $182.18 $512K
96 SWK 0.14% 24,600 $2M $71.06 -$79K
97 ADI 0.14% 5,474 $2M $318.17 -$549K -2,972 -35.2%
98 MDLZ 0.14% 30,097 $2M $57.64 -$617K -13,590 -31.1%
99 NFLX 0.14% 17,200 $2M $96.15 $369K +3,500 +25.6%
100 CARR 0.13% 28,700 $2M $56.31 $1M +19,700 +218.9%

New Positions

SymbolValue% Port
PODD $525K 0.04%
VRSK $440K 0.04%
MSI $223K 0.02%
EXC $221K 0.02%
VTWV $212K 0.02%
DOW $204K 0.02%

Sold Out Positions

SymbolValue% Port
BDX —%
GLW —%
AMT —%
LEVI —%
MET —%
PBR —%
APPF —%
DOCU —%
KHC —%
CHRW —%
View SEC EDGAR Filings for CULLINAN ASSOCIATES INC →

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