Cullen/Frost Bankers, Inc.

13F filer · CIK 0000039263

Reported Jul 27, 2026

Net buyer this quarter

13F portfolio value$10.1BU.S. long equity reported on 13F

Positions1,02470 new · 71 closed

Net flow last quarter+$111MBuys minus sells

Top 10 positions weight26.6%Concentration

Holdings

13F · last 4 quarters free

Scroll for earlier quarters

Company	Value	% of portfolio	% of company	POSITION CHANGE qoq %	First reported
Q2 2026Reported Jul 27, 20261,024 positions
AAPLApple Inc.	$545M	5.37%	0.01%	-0.4%	Q2 2013
MSFTMicrosoft Corp	$336M	3.32%	0.01%	-1.0%	Q2 2013
NVDANvidia Corp	$327M	3.23%	0.01%	-0.5%	Q3 2018
EMXCEmax Holdings Corp	$318M	3.13%	Not reported	+21.1%	Q3 2023
GOOGLAlphabet Inc.	$236M	2.33%	0.01%	+1.1%	Q4 2015
AMZNAmazon Com Inc	$212M	2.09%	0.01%	-6.4%	Q2 2013
AVGOBroadcom Inc.	$207M	2.04%	0.01%	+2.6%	Q3 2017
GLWCorning Inc	$197M	1.94%	0.09%	-0.3%	Q2 2013
GOOGAlphabet Inc.	$177M	1.74%	Not reported	-0.3%	Q4 2015
SPYSPDR S&P 500 ETF Trust	$141M	1.39%	Not reported	+4.4%	Q2 2013
LLYELI LILLY & Co	$121M	1.20%	0.01%	-2.6%	Q2 2013
VVisa Inc.	$118M	1.16%	0.02%	-1.3%	Q2 2013
METAMeta Platforms, Inc.	$116M	1.14%	Not reported	-1.1%	Q2 2013
JPMJPMorgan Chase & Co	$112M	1.11%	0.01%	+0.6%	Q2 2013
KLACKla Corp	$102M	1.00%	0.03%	+6.5%	Q1 2019
ABBVAbbVie Inc.	$86M	0.85%	0.02%	-4.6%	Q2 2013
CSCOCisco Systems, Inc.	$83.4M	0.82%	0.02%	+3.6%	Q2 2013
COSTCostco Wholesale Corp	$81.7M	0.81%	0.02%	-1.3%	Q2 2013
MAMastercard Inc	$79.8M	0.79%	0.01%	-2.0%	Q2 2013
JNJJohnson & Johnson	$78.3M	0.77%	0.01%	-0.3%	Q2 2013
XOMExxonMobil Holdings Corp	$70.7M	0.70%	0.01%	+2.8%	Q2 2013
CVXChevron Corp	$68.6M	0.68%	0.02%	+0.4%	Q2 2013
ETNEaton Corp plc	$66.7M	0.66%	0.04%	+0.2%	Q2 2013
HDHome Depot, Inc.	$62.2M	0.61%	0.02%	-1.9%	Q2 2013
BRK.BBerkshire Hathaway Inc	$61.9M	0.61%	Not reported	-4.5%	Q2 2013
WMTWalmart Inc.	$57.9M	0.57%	0.01%	-1.5%	Q2 2013
BACBank of America Corp	$57.3M	0.56%	0.01%	-2.1%	Q2 2013
AMDAdvanced Micro Devices Inc	$54.4M	0.54%	0.01%	+4.4%	Q1 2019
TXNTexas Instruments Inc	$51.6M	0.51%	0.02%	+18.4%	Q2 2013
KOCoca Cola Co	$49.3M	0.49%	0.01%	-0.5%	Q2 2013
LRCXLam Research Corp	$49M	0.48%	0.01%	-4.6%	Q2 2013
PMPhilip Morris International Inc.	$48.7M	0.48%	0.02%	-0.3%	Q2 2013
CMICummins Inc	$46.9M	0.46%	0.05%	-1.0%	Q2 2013
AXPAmerican Express Co	$46.4M	0.46%	0.02%	+0.7%	Q2 2013
UNHUnitedhealth Group Inc	$46.1M	0.45%	0.01%	+34.5%	Q2 2013
ORCLOracle Corp	$44.5M	0.44%	0.01%	-1.0%	Q2 2013
ETREntergy Corp	$43.7M	0.43%	0.08%	-0.3%	Q2 2014
VLOValero Energy Corp	$42.5M	0.42%	0.06%	-1.4%	Q1 2014
AMATApplied Materials Inc	$42.4M	0.42%	0.01%	+2.6%	Q2 2013
GEGeneral Electric Co	$42.4M	0.42%	0.01%	+2.9%	Q3 2021
MRKMerck & Co., Inc.	$39.8M	0.39%	0.01%	+2.9%	Q2 2013
PGPROCTER & GAMBLE Co	$39.7M	0.39%	0.01%	+0.1%	Q2 2013
GEVGE Vernova Inc.	$38.4M	0.38%	0.01%	-0.6%	Q2 2024
AEPAmerican Electric Power Co Inc	$37.4M	0.37%	0.05%	+3.0%	Q2 2013
CCitigroup Inc	$36.1M	0.36%	0.02%	+3.2%	Q1 2014
ISRGIntuitive Surgical Inc	$35.1M	0.35%	0.02%	+1.6%	Q2 2013
TSLATesla, Inc.	$34.5M	0.34%	0.00%	+8.6%	Q4 2018
ORLYO Reilly Automotive Inc	$33M	0.33%	0.04%	-2.2%	Q2 2013
BSVNBank7 Corp.	$32.1M	0.32%	4.33%	0.0%	Q2 2013
UNPUnion Pacific Corp	$31.2M	0.31%	0.02%	+2.9%	Q2 2013

Q1 2026Reported May 5, 20261,031 positions
AAPLApple Inc.	$480M	5.45%	0.01%	0.0%	Q2 2013
MSFTMicrosoft Corp	$337M	3.83%	0.01%	+0.6%	Q2 2013
NVDANvidia Corp	$287M	3.26%	0.01%	+1.8%	Q3 2018
EMXCEmax Holdings Corp	$202M	2.29%	Not reported	+0.3%	Q3 2023
AMZNAmazon Com Inc	$198M	2.25%	0.01%	+1.6%	Q2 2013
GOOGLAlphabet Inc.	$188M	2.14%	0.01%	+0.9%	Q4 2015
AVGOBroadcom Inc.	$166M	1.88%	0.01%	+4.8%	Q3 2017
GOOGAlphabet Inc.	$144M	1.63%	Not reported	-0.6%	Q4 2015
METAMeta Platforms, Inc.	$119M	1.35%	Not reported	+0.1%	Q2 2013
SPYSPDR S&P 500 ETF Trust	$118M	1.33%	Not reported	-7.8%	Q2 2013
VVisa Inc.	$105M	1.20%	0.02%	-1.1%	Q2 2013
GLWCorning Inc	$105M	1.19%	0.09%	-5.2%	Q2 2013
JPMJPMorgan Chase & Co	$100M	1.14%	0.01%	-0.8%	Q2 2013
LLYELI LILLY & Co	$95.5M	1.08%	0.01%	+0.2%	Q2 2013
COSTCostco Wholesale Corp	$88.1M	1.00%	0.02%	-2.2%	Q2 2013
CVXChevron Corp	$85.3M	0.97%	0.02%	-3.6%	Q2 2013
XOMExxonMobil Holdings Corp	$85.3M	0.97%	0.01%	+6.8%	Q2 2013
MAMastercard Inc	$79.2M	0.90%	0.01%	-1.6%	Q2 2013
ABBVAbbVie Inc.	$77.9M	0.89%	0.02%	-2.0%	Q2 2013
JNJJohnson & Johnson	$75.6M	0.86%	0.01%	-1.6%	Q2 2013
WMTWalmart Inc.	$64.5M	0.73%	0.01%	-0.3%	Q2 2013
BRK.BBerkshire Hathaway Inc	$62.1M	0.71%	Not reported	-2.0%	Q2 2013
HDHome Depot, Inc.	$59.1M	0.67%	0.02%	+0.7%	Q2 2013
ETNEaton Corp plc	$55.9M	0.63%	0.04%	0.0%	Q2 2013
CSCOCisco Systems, Inc.	$53.2M	0.60%	0.02%	+7.1%	Q2 2013
BACBank of America Corp	$50M	0.57%	0.01%	-0.3%	Q2 2013
KLACKla Corp	$46.6M	0.53%	0.02%	+28.6%	Q1 2019
KOCoca Cola Co	$46.4M	0.53%	0.01%	-0.9%	Q2 2013
ORCLOracle Corp	$45.1M	0.51%	0.01%	-7.0%	Q2 2013
PMPhilip Morris International Inc.	$44.7M	0.51%	0.02%	-4.7%	Q2 2013
ETREntergy Corp	$42.8M	0.49%	0.08%	+1.8%	Q2 2014
AXPAmerican Express Co	$41.1M	0.47%	0.02%	-0.4%	Q2 2013
VLOValero Energy Corp	$40.9M	0.46%	0.06%	+15.9%	Q1 2014
NFLXNetflix Inc	$40.4M	0.46%	0.01%	+1.8%	Q2 2015
ISRGIntuitive Surgical Inc	$40M	0.45%	0.02%	+3.5%	Q2 2013
PGPROCTER & GAMBLE Co	$39.1M	0.44%	0.01%	+5.9%	Q2 2013
GLTRabrdn Precious Metals Basket ETF Trust	$39.1M	0.44%	1.31%	-3.5%	Q1 2019
MRKMerck & Co., Inc.	$36.2M	0.41%	0.01%	+39.3%	Q2 2013
CMICummins Inc	$35.7M	0.41%	0.05%	+0.7%	Q2 2013
AEPAmerican Electric Power Co Inc	$34.8M	0.40%	0.05%	+0.5%	Q2 2013
ORLYO Reilly Automotive Inc	$33.8M	0.38%	0.04%	+0.6%	Q2 2013
BSVNBank7 Corp.	$32.3M	0.37%	4.33%	-7.8%	Q2 2013
GEGeneral Electric Co	$31.3M	0.36%	0.01%	+1.2%	Q3 2021
NOWServiceNow, Inc.	$30.6M	0.35%	0.03%	-2.6%	Q4 2014
MCDMcdonalds Corp	$30.5M	0.35%	0.01%	+0.7%	Q2 2013
BKNGBooking Holdings Inc.	$29.6M	0.34%	0.02%	-2.9%	Q1 2018
LOWLowes Companies Inc	$29.5M	0.34%	0.02%	-1.2%	Q2 2013
COPConocophillips	$28.8M	0.33%	0.02%	-3.4%	Q2 2013
GEVGE Vernova Inc.	$28.7M	0.33%	0.01%	+11.2%	Q2 2024
TXNTexas Instruments Inc	$28.4M	0.32%	0.02%	+7.8%	Q2 2013

Q4 2025Reported Feb 6, 20261,132 positions
AAPLApple Inc.	$514M	5.65%	0.01%	-1.1%	Q2 2013
MSFTMicrosoft Corp	$438M	4.82%	0.01%	-2.4%	Q2 2013
NVDANvidia Corp	$301M	3.32%	0.01%	+1.6%	Q3 2018
AMZNAmazon Com Inc	$216M	2.38%	0.01%	+0.5%	Q2 2013
GOOGLAlphabet Inc.	$203M	2.23%	0.01%	+2.9%	Q4 2015
EMXCEmax Holdings Corp	$186M	2.04%	Not reported	-2.1%	Q3 2023
AVGOBroadcom Inc.	$177M	1.94%	0.01%	-2.0%	Q3 2017
GOOGAlphabet Inc.	$158M	1.74%	Not reported	-1.2%	Q4 2015
METAMeta Platforms, Inc.	$137M	1.51%	Not reported	-0.4%	Q2 2013
SPYSPDR S&P 500 ETF Trust	$134M	1.47%	Not reported	+6.0%	Q2 2013
VVisa Inc.	$124M	1.36%	0.02%	-0.3%	Q2 2013
LLYELI LILLY & Co	$111M	1.23%	0.01%	-0.4%	Q2 2013
JPMJPMorgan Chase & Co	$111M	1.22%	0.01%	-5.4%	Q2 2013
MAMastercard Inc	$91.9M	1.01%	0.01%	-1.0%	Q2 2013
ABBVAbbVie Inc.	$83.5M	0.92%	0.02%	-4.4%	Q2 2013
COSTCostco Wholesale Corp	$78M	0.86%	0.02%	-1.1%	Q2 2013
GLWCorning Inc	$71.3M	0.78%	0.10%	0.0%	Q2 2013
BRK.BBerkshire Hathaway Inc	$66.5M	0.73%	Not reported	-2.6%	Q2 2013
CVXChevron Corp	$65.2M	0.72%	0.02%	+1.5%	Q2 2013
JNJJohnson & Johnson	$65M	0.72%	0.01%	-3.5%	Q2 2013
ORCLOracle Corp	$64.2M	0.71%	0.01%	-2.6%	Q2 2013
HDHome Depot, Inc.	$61.4M	0.68%	0.02%	-12.0%	Q2 2013
WMTWalmart Inc.	$58M	0.64%	0.01%	+2.7%	Q2 2013
BACBank of America Corp	$56.6M	0.62%	0.01%	+4.4%	Q2 2013
XOMExxonMobil Holdings Corp	$56.6M	0.62%	0.01%	-3.0%	Q2 2013
AXPAmerican Express Co	$50.5M	0.56%	0.02%	+1.0%	Q2 2013
ETNEaton Corp plc	$49.7M	0.55%	0.04%	-4.0%	Q2 2013
CSCOCisco Systems, Inc.	$49.3M	0.54%	0.02%	+8.6%	Q2 2013
ISRGIntuitive Surgical Inc	$47.5M	0.52%	0.02%	+2.2%	Q2 2013
NOWServiceNow, Inc.	$46.1M	0.51%	0.03%	-2.1%	Q4 2014
PMPhilip Morris International Inc.	$45.5M	0.50%	0.02%	+1.8%	Q2 2013
KOCoca Cola Co	$43M	0.47%	0.01%	-1.2%	Q2 2013
BKNGBooking Holdings Inc.	$38.7M	0.43%	0.02%	-2.2%	Q1 2018
NFLXNetflix Inc	$38.7M	0.43%	0.01%	+7.5%	Q2 2015
GLTRabrdn Precious Metals Basket ETF Trust	$38.1M	0.42%	1.48%	-4.8%	Q1 2019
PGPROCTER & GAMBLE Co	$36.6M	0.40%	0.01%	-5.1%	Q2 2013
BSVNBank7 Corp.	$35.3M	0.39%	4.73%	+11.5%	Q2 2013
ETREntergy Corp	$34.6M	0.38%	0.08%	+8.4%	Q2 2014
CMICummins Inc	$33.7M	0.37%	0.05%	-3.1%	Q2 2013
BSXBoston Scientific Corp	$33.6M	0.37%	0.02%	-0.8%	Q4 2018
GEGeneral Electric Co	$33.6M	0.37%	0.01%	+5.4%	Q3 2021
ORLYO Reilly Automotive Inc	$33.2M	0.37%	0.04%	-0.9%	Q2 2013
MCOMoodys Corp	$31.6M	0.35%	0.03%	-0.1%	Q2 2013
TSLATesla, Inc.	$31.3M	0.34%	0.00%	+9.1%	Q4 2018
LOWLowes Companies Inc	$30.5M	0.34%	0.02%	-0.2%	Q2 2013
AEPAmerican Electric Power Co Inc	$30.5M	0.34%	0.05%	+8.1%	Q2 2013
KLACKla Corp	$29.9M	0.33%	0.02%	-1.0%	Q1 2019
MCDMcdonalds Corp	$29.7M	0.33%	0.01%	+0.4%	Q2 2013
DISWalt Disney Co	$29.3M	0.32%	0.01%	+6.3%	Q2 2013
QCOMQualcomm Inc	$29.2M	0.32%	0.02%	-4.1%	Q2 2013

Q3 2025Reported Oct 31, 2025983 positions
AAPLApple Inc.	$487M	5.65%	0.01%	0.0%	Q2 2013
MSFTMicrosoft Corp	$480M	5.58%	0.01%	-2.0%	Q2 2013
NVDANvidia Corp	$297M	3.45%	0.01%	+2.1%	Q3 2018
AMZNAmazon Com Inc	$205M	2.38%	0.01%	-5.5%	Q2 2013
EMXCEmax Holdings Corp	$176M	2.05%	Not reported	+3.6%	Q3 2023
AVGOBroadcom Inc.	$172M	2.00%	0.01%	-0.9%	Q3 2017
GOOGLAlphabet Inc.	$153M	1.78%	0.01%	-2.4%	Q4 2015
METAMeta Platforms, Inc.	$153M	1.78%	Not reported	+1.3%	Q2 2013
GOOGAlphabet Inc.	$125M	1.45%	Not reported	-5.4%	Q4 2015
SPYSPDR S&P 500 ETF Trust	$123M	1.43%	Not reported	-5.4%	Q2 2013
VVisa Inc.	$121M	1.40%	0.02%	-0.7%	Q2 2013
JPMJPMorgan Chase & Co	$115M	1.33%	0.01%	-3.4%	Q2 2013
ORCLOracle Corp	$95.1M	1.11%	0.01%	+0.3%	Q2 2013
MAMastercard Inc	$92.6M	1.08%	0.01%	-0.8%	Q2 2013
ABBVAbbVie Inc.	$88.5M	1.03%	0.02%	-3.6%	Q2 2013
COSTCostco Wholesale Corp	$84.6M	0.98%	0.02%	-0.9%	Q2 2013
HDHome Depot, Inc.	$82.1M	0.95%	0.02%	-4.4%	Q2 2013
LLYELI LILLY & Co	$79.4M	0.92%	0.01%	+0.3%	Q2 2013
BRK.BBerkshire Hathaway Inc	$68.3M	0.79%	Not reported	-2.4%	Q2 2013
GLWCorning Inc	$66.8M	0.78%	0.10%	0.0%	Q2 2013
CVXChevron Corp	$65.5M	0.76%	0.02%	+38.5%	Q2 2013
ETNEaton Corp plc	$60.9M	0.71%	0.04%	+6.0%	Q2 2013
JNJJohnson & Johnson	$60.4M	0.70%	0.01%	-2.8%	Q2 2013
NOWServiceNow, Inc.	$56.5M	0.66%	0.03%	-2.4%	Q4 2014
XOMExxonMobil Holdings Corp	$54.7M	0.64%	0.01%	-3.6%	Q2 2013
WMTWalmart Inc.	$52.2M	0.61%	0.01%	+0.6%	Q2 2013
BACBank of America Corp	$50.9M	0.59%	0.01%	-0.4%	Q2 2013
NFLXNetflix Inc	$46M	0.53%	0.01%	+8.8%	Q2 2015
PMPhilip Morris International Inc.	$45.2M	0.52%	0.02%	+3.1%	Q2 2013
AXPAmerican Express Co	$44.9M	0.52%	0.02%	-0.9%	Q2 2013
PGPROCTER & GAMBLE Co	$41.4M	0.48%	0.01%	-13.1%	Q2 2013
KOCoca Cola Co	$41.3M	0.48%	0.01%	-3.3%	Q2 2013
CSCOCisco Systems, Inc.	$40.3M	0.47%	0.01%	+4.3%	Q2 2013
BKNGBooking Holdings Inc.	$39.9M	0.46%	0.02%	-2.0%	Q1 2018
ORLYO Reilly Automotive Inc	$39.6M	0.46%	0.04%	-0.4%	Q2 2013
AJGArthur J. Gallagher & Co.	$39M	0.45%	0.05%	-2.5%	Q2 2019
ISRGIntuitive Surgical Inc	$36.7M	0.43%	0.02%	+4.4%	Q2 2013
BSXBoston Scientific Corp	$34.7M	0.40%	0.02%	-1.6%	Q4 2018
ETREntergy Corp	$32.2M	0.37%	0.08%	+1.3%	Q2 2014
GLTRabrdn Precious Metals Basket ETF Trust	$32.2M	0.37%	1.73%	-9.5%	Q1 2019
LOWLowes Companies Inc	$31.8M	0.37%	0.02%	-0.9%	Q2 2013
BSVNBank7 Corp.	$31.7M	0.37%	4.24%	+10.1%	Q2 2013
GEGeneral Electric Co	$31.1M	0.36%	0.01%	+7.1%	Q3 2021
QCOMQualcomm Inc	$29.6M	0.34%	0.02%	-25.0%	Q2 2013
MCDMcdonalds Corp	$29.5M	0.34%	0.01%	-0.6%	Q2 2013
MCOMoodys Corp	$29.4M	0.34%	0.03%	-1.1%	Q2 2013
SPOTSpotify Technology S.A.	$29.3M	0.34%	0.02%	+0.2%	Q4 2021
CMICummins Inc	$28.7M	0.33%	0.05%	-2.7%	Q2 2013
TSLATesla, Inc.	$28.3M	0.33%	0.00%	+3.5%	Q4 2018
SHWSherwin Williams Co	$28.1M	0.33%	0.03%	+0.2%	Q2 2013

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