13F HOLDINGS REPORT
CULLINAN ASSOCIATES INC
Quarter ended Q2 2025 · Filed July 22, 2025 · Accession 0001161670-25-000004
Total Value
$1.52B
Positions
210
Other Managers
0
Confidential Omitted
No
Holdings (210)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | Coinbase Global Inc. | COIN | 302,725 | $106.1M | 7.00% |
| 2 | Coca-Cola Company | KO | 1,377,472 | $97.5M | 6.43% |
| 3 | Apple Inc | AAPL | 453,593 | $93.1M | 6.14% |
| 4 | Microsoft Corp | MSFT | 169,827 | $84.5M | 5.57% |
| 5 | S&P Global Inc. | SPGI | 123,440 | $65.1M | 4.29% |
| 6 | Wal-Mart Stores Inc | WMT | 567,621 | $55.5M | 3.66% |
| 7 | Procter & Gamble Co | 742718109 | 262,392 | $41.8M | 2.76% |
| 8 | SPDR S&P 500 Trust | SPY | 62,181 | $38.4M | 2.53% |
| 9 | Intl Business Machines Corp | INTR | 121,143 | $35.7M | 2.36% |
| 10 | Johnson & Johnson | JNJ | 188,677 | $28.8M | 1.90% |
| 11 | Exxon Mobil | XOM | 262,966 | $28.3M | 1.87% |
| 12 | Amazon | AMZN | 127,093 | $27.9M | 1.84% |
| 13 | Oracle Corp | ORCL-PD | 120,008 | $26.2M | 1.73% |
| 14 | Visa Inc Cl A | V | 66,595 | $23.6M | 1.56% |
| 15 | Alphabet Class A | GOOG | 132,690 | $23.4M | 1.54% |
| 16 | Vertex Pharmaceutical | VRTX | 52,012 | $23.2M | 1.53% |
| 17 | J P Morgan Chase & Co | VYLD | 78,342 | $22.7M | 1.50% |
| 18 | McDonalds Corp | MCD | 66,707 | $19.5M | 1.29% |
| 19 | Nvidia Corp | NVDA | 119,824 | $18.9M | 1.25% |
| 20 | Lowes Companies Inc | 548661107 | 84,475 | $18.7M | 1.24% |
| 21 | Texas Instruments | 882508104 | 87,915 | $18.3M | 1.20% |
| 22 | American Express Co | AXP | 54,805 | $17.5M | 1.15% |
| 23 | Electronic Arts | EA | 106,392 | $17.0M | 1.12% |
| 24 | Chevron Corp | CVX | 118,357 | $16.9M | 1.12% |
| 25 | AbbVie Inc | ABBV | 88,143 | $16.4M | 1.08% |
| 26 | Alphabet Class C | GOOG | 88,021 | $15.6M | 1.03% |
| 27 | Meta Platforms Inc | META | 20,855 | $15.4M | 1.02% |
| 28 | Qualys Inc | QLYS | 102,800 | $14.7M | 0.97% |
| 29 | Caterpillar | CAT | 35,666 | $13.8M | 0.91% |
| 30 | Costco Wholesale Corp | 22160K105 | 13,825 | $13.7M | 0.90% |
| 31 | AFLAC Inc | AFL | 127,250 | $13.4M | 0.89% |
| 32 | Home Depot | HD | 33,041 | $12.1M | 0.80% |
| 33 | Applied Materials | 038222105 | 63,823 | $11.7M | 0.77% |
| 34 | Southern Co | SOMN | 125,152 | $11.5M | 0.76% |
| 35 | Airbnb Inc | ABNB | 81,236 | $10.8M | 0.71% |
| 36 | Uber Technologies Inc | UBER | 113,469 | $10.6M | 0.70% |
| 37 | Deere & Company | DE | 20,254 | $10.3M | 0.68% |
| 38 | Goldman Sachs | GSCE | 14,058 | $9.9M | 0.66% |
| 39 | Lockheed Martin | LMT | 21,358 | $9.9M | 0.65% |
| 40 | Amgen Inc | AMGN | 34,046 | $9.5M | 0.63% |
| 41 | Lam Research Corp | LRCX | 97,000 | $9.4M | 0.62% |
| 42 | Emerson Electric Company | EMR | 70,200 | $9.4M | 0.62% |
| 43 | Walt Disney Company | 254687106 | 74,183 | $9.2M | 0.61% |
| 44 | KLA Corporation | KLAC | 9,761 | $8.7M | 0.58% |
| 45 | New York Times Company | NYT | 152,156 | $8.5M | 0.56% |
| 46 | Philip Morris | 718172109 | 43,254 | $7.9M | 0.52% |
| 47 | Berkshire Hathaway Cl B | BRK-A | 15,337 | $7.5M | 0.49% |
| 48 | United Parcel Service Inc Cl B | UPS | 72,382 | $7.3M | 0.48% |
| 49 | TJX Companies | 872540109 | 54,986 | $6.8M | 0.45% |
| 50 | Cisco Systems Inc | CSCO | 94,369 | $6.5M | 0.43% |
| 51 | Eli Lilly & Company | LLY | 8,370 | $6.5M | 0.43% |
| 52 | Illinois Tool Works | 452308109 | 26,265 | $6.5M | 0.43% |
| 53 | Ecolab Inc | ECL | 23,466 | $6.3M | 0.42% |
| 54 | The Travelers Companies | TRV | 23,311 | $6.2M | 0.41% |
| 55 | Dynatrace Holdings LLC | DT | 109,000 | $6.0M | 0.40% |
| 56 | Prudential Financial | PUKPF | 54,321 | $5.8M | 0.38% |
| 57 | Qualcomm Inc | QCOM | 35,895 | $5.7M | 0.38% |
| 58 | Morgan Stanley | MS-PQ | 40,472 | $5.7M | 0.38% |
| 59 | CME Group | CME | 19,400 | $5.3M | 0.35% |
| 60 | HP Inc | HPQ | 205,739 | $5.0M | 0.33% |
| 61 | Norfolk Southern | 655844108 | 19,400 | $5.0M | 0.33% |
| 62 | Fastenal Company | FAST | 117,130 | $4.9M | 0.32% |
| 63 | Salesforce.com Inc | CRM | 17,600 | $4.8M | 0.32% |
| 64 | YUM Brands | YUM | 31,811 | $4.7M | 0.31% |
| 65 | Abbott Laboratories | ABLZF | 34,094 | $4.6M | 0.31% |
| 66 | Colgate-Palmolive Company | CL | 50,439 | $4.6M | 0.30% |
| 67 | Adobe | ADBE | 11,600 | $4.5M | 0.30% |
| 68 | Comcast Corp | CCZ | 124,690 | $4.5M | 0.29% |
| 69 | Truist Financial Corporation | 89832Q109 | 102,535 | $4.4M | 0.29% |
| 70 | Medtronic Plc | MDT | 49,106 | $4.3M | 0.28% |
| 71 | Union Pacific Corp | UNP | 18,070 | $4.2M | 0.27% |
| 72 | Merck & Company Inc | MRK | 49,594 | $3.9M | 0.26% |
| 73 | Vanguard S&P 500 ETF | 922908363 | 6,570 | $3.7M | 0.25% |
| 74 | PepsiCo | PEP | 28,193 | $3.7M | 0.25% |
| 75 | Tesla Motors Inc | TSLA | 11,600 | $3.7M | 0.24% |
| 76 | American Tower REIT | 03027X100 | 16,611 | $3.7M | 0.24% |
| 77 | Atlassian Corp CL A | TEAM | 18,017 | $3.7M | 0.24% |
| 78 | Wells Fargo & Co | 949746101 | 43,166 | $3.5M | 0.23% |
| 79 | New Atlas Holdco Inc | AESI | 252,000 | $3.4M | 0.22% |
| 80 | Automatic Data | ADP | 10,800 | $3.3M | 0.22% |
| 81 | Cummins | CMI | 10,103 | $3.3M | 0.22% |
| 82 | CVS Health Corp | CVS | 47,467 | $3.3M | 0.22% |
| 83 | UnitedHealth | UNH | 10,398 | $3.2M | 0.21% |
| 84 | Stryker | SYK | 8,145 | $3.2M | 0.21% |
| 85 | Mondelez Intl | 609207105 | 45,587 | $3.1M | 0.20% |
| 86 | iShares Russell 1000 Growth ET | 464287614 | 7,200 | $3.1M | 0.20% |
| 87 | Bristol Myers Squibb Company | CELG-RI | 65,931 | $3.1M | 0.20% |
| 88 | C H Robinsin Worldwide | CHRW | 31,300 | $3.0M | 0.20% |
| 89 | Crown Castle | CCI | 28,159 | $2.9M | 0.19% |
| 90 | Duke Energy Hldg | DUKB | 24,244 | $2.9M | 0.19% |
| 91 | Roper Technologies | ROP | 5,000 | $2.8M | 0.19% |
| 92 | Okta Inc | OKTA | 28,300 | $2.8M | 0.19% |
| 93 | Hims and Hers Health | HIMS | 56,200 | $2.8M | 0.18% |
| 94 | Northrop Grumman Corp | NOC | 5,592 | $2.8M | 0.18% |
| 95 | ProLogis Inc | PLDGP | 26,269 | $2.8M | 0.18% |
| 96 | Broadcom Ltd | AVGO | 9,700 | $2.7M | 0.18% |
| 97 | Bank Of America | 060505104 | 56,325 | $2.7M | 0.18% |
| 98 | Intuitive Surgical Inc | ISRG | 4,900 | $2.7M | 0.18% |
| 99 | RTX Corporation | RTX | 17,833 | $2.6M | 0.17% |
| 100 | Mastercard | MA | 4,500 | $2.5M | 0.17% |
| 101 | Accenture PLC | ACN | 8,379 | $2.5M | 0.17% |
| 102 | Analog Devices | ADI | 9,307 | $2.2M | 0.15% |
| 103 | Intuit | INTU | 2,770 | $2.2M | 0.14% |
| 104 | Honeywell | 438516106 | 9,290 | $2.2M | 0.14% |
| 105 | Gitlab Inc Cl A | GTLB | 47,000 | $2.1M | 0.14% |
| 106 | ConocoPhillips | COP | 21,932 | $2.0M | 0.13% |
| 107 | PayPal Hldg Inc | PYPL | 25,815 | $1.9M | 0.13% |
| 108 | Pfizer Inc | PFE | 76,501 | $1.9M | 0.12% |
| 109 | ServiceNow | NOW | 1,800 | $1.9M | 0.12% |
| 110 | Altria Group | MO | 30,527 | $1.8M | 0.12% |
| 111 | Netflix | NFLX | 1,300 | $1.7M | 0.11% |
| 112 | GE Aerospace | 369604301 | 6,679 | $1.7M | 0.11% |
| 113 | Stanley Black & Decker | SWK | 25,000 | $1.7M | 0.11% |
| 114 | Eaton Corp | ETN | 4,160 | $1.5M | 0.10% |
| 115 | NextEra Energy | NEE-PW | 21,335 | $1.5M | 0.10% |
| 116 | Welltower Inc | WELL | 9,215 | $1.4M | 0.09% |
| 117 | Procore Technologies Inc | PCOR | 20,000 | $1.4M | 0.09% |
| 118 | Boston Scientific | BSX | 12,400 | $1.3M | 0.09% |
| 119 | U S Bancorp | USB-PS | 29,350 | $1.3M | 0.09% |
| 120 | Boeing | BA-PA | 6,175 | $1.3M | 0.09% |
| 121 | First Solar Inc | FSLR | 7,500 | $1.2M | 0.08% |
| 122 | Dominion Energy | D | 20,378 | $1.2M | 0.08% |
| 123 | Phillips 66 | PSX | 9,639 | $1.1M | 0.08% |
| 124 | Intel Corp | INTC | 50,389 | $1.1M | 0.07% |
| 125 | Equifax Inc | EFX | 4,250 | $1.1M | 0.07% |
| 126 | Charles Schwab Corp | SCHW-PJ | 11,900 | $1.1M | 0.07% |
| 127 | Progressive Corp | 743315103 | 4,000 | $1.1M | 0.07% |
| 128 | Edwards Lifesciences | EW | 12,600 | $985,446 | 0.06% |
| 129 | UBS AG | UBS | 29,000 | $980,780 | 0.06% |
| 130 | Thermo Fisher Scientific | TMO | 2,300 | $932,558 | 0.06% |
| 131 | Trane Tech PLC | TT | 2,100 | $918,561 | 0.06% |
| 132 | PNC Finl | 693475105 | 4,862 | $906,374 | 0.06% |
| 133 | Robinhood Markets Inc | 770700102 | 9,300 | $870,759 | 0.06% |
| 134 | Blackstone Group | BX | 5,800 | $867,564 | 0.06% |
| 135 | Dover Corporation | DOV | 4,700 | $861,181 | 0.06% |
| 136 | AT&T Inc | T-PC | 28,855 | $835,064 | 0.06% |
| 137 | Sysco Corp | SYY | 11,000 | $833,140 | 0.05% |
| 138 | Agilent | A | 7,000 | $826,070 | 0.05% |
| 139 | Nucor Corp | NUE | 6,369 | $825,040 | 0.05% |
| 140 | Gilead Sciences | GILD | 7,149 | $792,556 | 0.05% |
| 141 | GE Vernova Inc | GEV | 1,448 | $766,209 | 0.05% |
| 142 | Fifth Third Bancorp | FITBM | 18,400 | $756,792 | 0.05% |
| 143 | General Dynamics | GD | 2,579 | $752,191 | 0.05% |
| 144 | Blackrock Inc | BLK | 716 | $751,263 | 0.05% |
| 145 | Nike Inc Cl B | NKE | 10,520 | $747,341 | 0.05% |
| 146 | Vertiv Holdings Co | VRT | 5,800 | $744,778 | 0.05% |
| 147 | Lincoln National Corporation | 534187109 | 20,800 | $719,680 | 0.05% |
| 148 | Genuine Parts Company | GPC | 5,900 | $715,729 | 0.05% |
| 149 | Take Two | TTWO | 2,900 | $704,265 | 0.05% |
| 150 | Quantum Scape Corp | 71467V109 | 101,000 | $678,720 | 0.04% |
| 151 | Carrier Global | CARR | 9,000 | $658,710 | 0.04% |
| 152 | Kimberly-Clark | KMB | 5,100 | $657,492 | 0.04% |
| 153 | Sherwin-Williams | SHW | 1,900 | $652,384 | 0.04% |
| 154 | CarGurus Inc | CARG | 19,400 | $649,318 | 0.04% |
| 155 | Advanced Micro | AMD | 4,519 | $641,246 | 0.04% |
| 156 | Leidos Holdings Inc. | LDOS | 4,000 | $631,040 | 0.04% |
| 157 | FMC Corporation | FMC | 14,448 | $603,204 | 0.04% |
| 158 | Novo Nordisk ADR | NONOF | 8,675 | $598,748 | 0.04% |
| 159 | Verizon Communications Inc | VZ | 13,400 | $579,818 | 0.04% |
| 160 | CSX Corp | CSX | 17,600 | $574,288 | 0.04% |
| 161 | Palantir Technologies Inc | PLTR | 4,200 | $572,544 | 0.04% |
| 162 | Novartis AG | NVSEF | 4,700 | $568,747 | 0.04% |
| 163 | Baxter Intl | 071813109 | 18,700 | $566,236 | 0.04% |
| 164 | AstraZeneca PLC | AZN | 8,026 | $560,857 | 0.04% |
| 165 | Invesco QQQ Tr Unit Ser 1 | IVZ | 943 | $520,197 | 0.03% |
| 166 | 3M Company | MMM | 3,400 | $517,616 | 0.03% |
| 167 | Huntington Ingalls Industries | 446413106 | 2,000 | $482,920 | 0.03% |
| 168 | Baidu Inc | BAIDF | 5,400 | $463,104 | 0.03% |
| 169 | Applovin Corp | APP | 1,312 | $459,305 | 0.03% |
| 170 | McCormick and Co | MKC-V | 6,000 | $454,920 | 0.03% |
| 171 | Doordash Inc | DASH | 1,825 | $449,881 | 0.03% |
| 172 | Ross Stores | ROST | 3,467 | $442,320 | 0.03% |
| 173 | Williams-Sonoma | WSM | 2,700 | $441,099 | 0.03% |
| 174 | Microchip | MCHPP | 6,200 | $436,294 | 0.03% |
| 175 | Corteva Inc | CTVA | 5,852 | $436,165 | 0.03% |
| 176 | Rockwell | ROK | 1,300 | $431,821 | 0.03% |
| 177 | SPDR Gold Trust ETF | GLD | 1,400 | $426,762 | 0.03% |
| 178 | Petroleo Brasileiro | 71654V408 | 33,200 | $415,332 | 0.03% |
| 179 | Axon Enterprise Inc | AXON | 500 | $413,970 | 0.03% |
| 180 | Marathon Petroleum Corp | MARA | 2,460 | $408,631 | 0.03% |
| 181 | Digital Realty Trust | 253868103 | 2,319 | $404,271 | 0.03% |
| 182 | Science Applications Intl Corp | 808625107 | 3,500 | $394,135 | 0.03% |
| 183 | Zoetis Inc | ZTS | 2,500 | $389,875 | 0.03% |
| 184 | Aptiv PLC | APTV | 5,700 | $388,854 | 0.03% |
| 185 | Plains GP Holdings | PAGP | 20,000 | $388,600 | 0.03% |
| 186 | Constl. Energy Corporation | CEG | 1,200 | $387,312 | 0.03% |
| 187 | Linde PLC | LIN | 801 | $375,813 | 0.02% |
| 188 | Humana | HUM | 1,525 | $372,832 | 0.02% |
| 189 | Shell PLC | RYDAF | 5,100 | $359,091 | 0.02% |
| 190 | Kraft Heinz Co | KHC | 12,742 | $328,998 | 0.02% |
| 191 | Ingersoll-Rand PLC | IR | 3,601 | $299,531 | 0.02% |
| 192 | Canadian National Railway | 136375102 | 2,800 | $291,312 | 0.02% |
| 193 | Vulcan Materials | 929160109 | 1,100 | $286,902 | 0.02% |
| 194 | Palo Alto Networks Inc | PANW | 1,400 | $286,496 | 0.02% |
| 195 | Capital One Financial | 14040H105 | 1,319 | $280,630 | 0.02% |
| 196 | AppFolio Inc | APPF | 1,200 | $276,336 | 0.02% |
| 197 | Sealed Air | SE | 8,900 | $276,167 | 0.02% |
| 198 | Keysight Technologies | KEYS | 1,600 | $262,176 | 0.02% |
| 199 | Chubb Limited | CB | 882 | $255,533 | 0.02% |
| 200 | Fulton Financial | 360271100 | 14,000 | $252,560 | 0.02% |
| 201 | T Rowe Price Grp Inc | TROW | 2,600 | $250,900 | 0.02% |
| 202 | Metlife Inc | MET-PF | 3,008 | $241,903 | 0.02% |
| 203 | Allstate Corp | ALL-PJ | 1,200 | $241,572 | 0.02% |
| 204 | ASML Holding NV | ASMLF | 300 | $240,417 | 0.02% |
| 205 | Danaher Corp | 235851102 | 1,200 | $237,048 | 0.02% |
| 206 | Valero Energy | VLO | 1,700 | $228,514 | 0.02% |
| 207 | BP PLC ADS | BPPFF | 7,600 | $227,468 | 0.02% |
| 208 | Energy Transfer LP | ET-PI | 12,300 | $222,999 | 0.01% |
| 209 | Diageo PLC ADR | DGEAF | 2,100 | $211,764 | 0.01% |
| 210 | Levi Strauss & Co | LEVI | 10,000 | $184,900 | 0.01% |