CULLEN INVESTMENT GROUP, LTD.

CIK 0000797203 · Q2 2026

13F Equity AUM

$826.5M

+9.1% QoQ

Positions

181

+2 QoQ

AUM Rank

#3,749

Top 30%

Skill Alpha (FF)

-1.5%/yr^ns

No Clear Edge

Rank #5,097 · Top 61%

vs S&P -1.8%/yr (unadj.)

Quarters Tracked

~2 years

Portfolio Concentration

Top 5: 25.3%Top 10: 38.9%Top 20: 55.9%

AAPL6.5%

BRK/B6.4%

GOOG4.8%

MSFT3.9%

WMT3.8%

JPM3.5%

NVDA2.6%

AVGO2.5%

ETN2.5%

AMZN2.3%

Others (171)61.1%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Technology24.0%

Financial Services19.1%

Industrials14.0%

Healthcare10.3%

Communication Services8.9%

Energy6.5%

Consumer Defensive6.2%

Consumer Cyclical6.2%

Other4.9%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 181Median: 0.17%Avg: 0.55%

0–0.5%

135(19.7%)

0.5–1%

15(11.8%)

1–3%

25(39.6%)

3–5%

4(16.0%)

5%+

2(12.9%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 181vs 20 funds

0%Low

181

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New9Increased71Decreased86Exited7

New Positions

TMO0.3%

+4K

MSGS0.1%

+3K

COO0.1%

+6K

STX0.0%

+250

NDQ0.0%

+308

TSM0.0%

+503

TRV0.0%

+657

BUD0.0%

+2K

ACA0.0%

+1K

Increased

BKNG1.0%

+46K(+2712%)

CMCSA0.9%

+14K(+5%)

MDT1.2%

+14K(+13%)

UL0.9%

+10K(+9%)

AMRZ0.5%

+8K(+12%)

WFC1.2%

+8K(+7%)

SCHW1.2%

+7K(+7%)

NVSN1.1%

+5K(+10%)

COP0.8%

+5K(+9%)

BRK/B6.4%

+4K(+4%)

Decreased

BAC0.2%

-14,014(-25%)

SO0.4%

-7,941(-18%)

PEG0.1%

-6,284(-34%)

O0.9%

-6,025(-5%)

WMT3.8%

-5,967(-2%)

UPS0.3%

-5,941(-21%)

FIS0.0%

-5,048(-35%)

PEP0.6%

-5,020(-13%)

GOOG4.8%

-3,691(-3%)

AVGO2.5%

-3,442(-6%)

Exited

HON

-1,487

-3,408

-601

-1,809

-2,530

-21,688

-16,883

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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