13F HOLDINGS REPORT
CULLINAN ASSOCIATES INC
Quarter ended Q3 2025 · Filed October 27, 2025 · Accession 0001161670-25-000005
Total Value
$1.54B
Positions
213
Other Managers
0
Confidential Omitted
No
Holdings (213)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | Apple Inc | AAPL | 451,281 | $114.9M | 7.48% |
| 2 | Microsoft Corp | MSFT | 177,065 | $91.7M | 5.97% |
| 3 | Coca-Cola Company | KO | 1,371,046 | $90.9M | 5.92% |
| 4 | Coinbase Global Inc. | COIN | 257,925 | $87.0M | 5.67% |
| 5 | S&P Global Inc. | SPGI | 118,240 | $57.5M | 3.75% |
| 6 | Wal-Mart Stores Inc | WMT | 545,178 | $56.2M | 3.66% |
| 7 | Procter & Gamble Co | 742718109 | 262,150 | $40.3M | 2.62% |
| 8 | SPDR S&P 500 Trust | SPY | 54,667 | $36.4M | 2.37% |
| 9 | Intl Business Machines Corp | INTR | 124,822 | $35.2M | 2.29% |
| 10 | Johnson & Johnson | JNJ | 187,054 | $34.7M | 2.26% |
| 11 | Oracle Corp | ORCL-PD | 110,192 | $31.0M | 2.02% |
| 12 | Alphabet Class A | GOOG | 123,921 | $30.1M | 1.96% |
| 13 | Exxon Mobil | XOM | 257,411 | $29.0M | 1.89% |
| 14 | J P Morgan Chase & Co | VYLD | 81,232 | $25.6M | 1.67% |
| 15 | Amazon | AMZN | 113,393 | $24.9M | 1.62% |
| 16 | Alphabet Class C | GOOG | 90,524 | $22.0M | 1.44% |
| 17 | Nvidia Corp | NVDA | 112,694 | $21.0M | 1.37% |
| 18 | Lowes Companies Inc | 548661107 | 83,037 | $20.9M | 1.36% |
| 19 | Vertex Pharmaceutical | VRTX | 51,412 | $20.1M | 1.31% |
| 20 | McDonalds Corp | MCD | 65,306 | $19.8M | 1.29% |
| 21 | AbbVie Inc | ABBV | 84,786 | $19.6M | 1.28% |
| 22 | Chevron Corp | CVX | 112,567 | $17.5M | 1.14% |
| 23 | Electronic Arts | EA | 82,045 | $16.5M | 1.08% |
| 24 | Caterpillar | CAT | 33,525 | $16.0M | 1.04% |
| 25 | American Express Co | AXP | 47,613 | $15.8M | 1.03% |
| 26 | AFLAC Inc | AFL | 137,969 | $15.4M | 1.00% |
| 27 | Texas Instruments | 882508104 | 82,862 | $15.2M | 0.99% |
| 28 | Meta Platforms Inc | META | 20,205 | $14.8M | 0.97% |
| 29 | Qualys Inc | QLYS | 102,800 | $13.6M | 0.89% |
| 30 | Lam Research Corp | LRCX | 97,000 | $13.0M | 0.85% |
| 31 | Applied Materials | 038222105 | 61,974 | $12.7M | 0.83% |
| 32 | Home Depot | HD | 30,997 | $12.6M | 0.82% |
| 33 | Costco Wholesale Corp | 22160K105 | 13,389 | $12.4M | 0.81% |
| 34 | Southern Co | SOMN | 129,901 | $12.3M | 0.80% |
| 35 | Uber Technologies Inc | UBER | 119,153 | $11.7M | 0.76% |
| 36 | Goldman Sachs | GSCE | 13,007 | $10.4M | 0.67% |
| 37 | Lockheed Martin | LMT | 20,303 | $10.1M | 0.66% |
| 38 | Airbnb Inc | ABNB | 81,236 | $9.9M | 0.64% |
| 39 | Visa Inc Cl A | V | 28,370 | $9.7M | 0.63% |
| 40 | KLA Corporation | KLAC | 8,968 | $9.7M | 0.63% |
| 41 | CME Group | CME | 35,450 | $9.6M | 0.62% |
| 42 | Deere & Company | DE | 20,567 | $9.4M | 0.61% |
| 43 | Walt Disney Company | 254687106 | 80,420 | $9.2M | 0.60% |
| 44 | Emerson Electric Company | EMR | 68,278 | $9.0M | 0.58% |
| 45 | Amgen Inc | AMGN | 31,444 | $8.9M | 0.58% |
| 46 | New York Times Company | NYT | 148,868 | $8.5M | 0.56% |
| 47 | TJX Companies | 872540109 | 54,399 | $7.9M | 0.51% |
| 48 | Berkshire Hathaway Cl B | BRK-A | 14,987 | $7.5M | 0.49% |
| 49 | Philip Morris | 718172109 | 44,429 | $7.2M | 0.47% |
| 50 | The Travelers Companies | TRV | 25,484 | $7.1M | 0.46% |
| 51 | Qualcomm Inc | QCOM | 41,580 | $6.9M | 0.45% |
| 52 | Eli Lilly & Company | LLY | 8,943 | $6.8M | 0.44% |
| 53 | PayPal Hldg Inc | PYPL | 100,220 | $6.7M | 0.44% |
| 54 | Ecolab Inc | ECL | 23,806 | $6.5M | 0.42% |
| 55 | Cisco Systems Inc | CSCO | 88,431 | $6.1M | 0.39% |
| 56 | Fastenal Company | FAST | 122,832 | $6.0M | 0.39% |
| 57 | United Parcel Service Inc Cl B | UPS | 71,550 | $6.0M | 0.39% |
| 58 | Norfolk Southern | 655844108 | 19,400 | $5.8M | 0.38% |
| 59 | Illinois Tool Works | 452308109 | 22,101 | $5.8M | 0.38% |
| 60 | Morgan Stanley | MS-PQ | 34,150 | $5.4M | 0.35% |
| 61 | HP Inc | HPQ | 193,976 | $5.3M | 0.34% |
| 62 | Dynatrace Holdings LLC | DT | 109,000 | $5.3M | 0.34% |
| 63 | Prudential Financial | PUKPF | 50,639 | $5.3M | 0.34% |
| 64 | Tesla Motors Inc | TSLA | 11,600 | $5.2M | 0.34% |
| 65 | YUM Brands | YUM | 32,195 | $4.9M | 0.32% |
| 66 | Abbott Laboratories | ABLZF | 33,500 | $4.5M | 0.29% |
| 67 | Union Pacific Corp | UNP | 17,970 | $4.2M | 0.28% |
| 68 | Medtronic Plc | MDT | 43,765 | $4.2M | 0.27% |
| 69 | Merck & Company Inc | MRK | 49,624 | $4.2M | 0.27% |
| 70 | Adobe | ADBE | 11,600 | $4.1M | 0.27% |
| 71 | C H Robinsin Worldwide | CHRW | 30,600 | $4.1M | 0.26% |
| 72 | Colgate-Palmolive Company | CL | 50,439 | $4.0M | 0.26% |
| 73 | Vanguard S&P 500 ETF | 922908363 | 6,570 | $4.0M | 0.26% |
| 74 | Cummins | CMI | 9,383 | $4.0M | 0.26% |
| 75 | Wells Fargo & Co | 949746101 | 46,216 | $3.9M | 0.25% |
| 76 | PepsiCo | PEP | 27,393 | $3.8M | 0.25% |
| 77 | Comcast Corp | CCZ | 120,490 | $3.8M | 0.25% |
| 78 | CVS Health Corp | CVS | 48,280 | $3.6M | 0.24% |
| 79 | Salesforce.com Inc | CRM | 14,500 | $3.4M | 0.22% |
| 80 | Northrop Grumman Corp | NOC | 5,492 | $3.3M | 0.22% |
| 81 | iShares Russell 1000 Growth ET | 464287614 | 7,100 | $3.3M | 0.22% |
| 82 | Broadcom Ltd | AVGO | 9,700 | $3.2M | 0.21% |
| 83 | American Tower REIT | 03027X100 | 16,311 | $3.1M | 0.20% |
| 84 | UnitedHealth | UNH | 8,977 | $3.1M | 0.20% |
| 85 | Bank Of America | 060505104 | 58,731 | $3.0M | 0.20% |
| 86 | Stryker | SYK | 8,195 | $3.0M | 0.20% |
| 87 | Automatic Data | ADP | 10,300 | $3.0M | 0.20% |
| 88 | Duke Energy Hldg | DUKB | 24,159 | $3.0M | 0.19% |
| 89 | RTX Corporation | RTX | 17,833 | $3.0M | 0.19% |
| 90 | Atlassian Corp CL A | TEAM | 18,017 | $2.9M | 0.19% |
| 91 | New Atlas Holdco Inc | AESI | 252,000 | $2.9M | 0.19% |
| 92 | Mondelez Intl | 609207105 | 45,687 | $2.9M | 0.19% |
| 93 | ProLogis Inc | PLDGP | 24,087 | $2.8M | 0.18% |
| 94 | Crown Castle | CCI | 28,159 | $2.7M | 0.18% |
| 95 | Truist Financial Corporation | 89832Q109 | 57,435 | $2.6M | 0.17% |
| 96 | Okta Inc | OKTA | 28,300 | $2.6M | 0.17% |
| 97 | Bristol Myers Squibb Company | CELG-RI | 55,619 | $2.5M | 0.16% |
| 98 | Mastercard | MA | 4,400 | $2.5M | 0.16% |
| 99 | Roper Technologies | ROP | 5,000 | $2.5M | 0.16% |
| 100 | Pfizer Inc | PFE | 88,001 | $2.2M | 0.15% |
| 101 | Intuitive Surgical Inc | ISRG | 4,900 | $2.2M | 0.14% |
| 102 | Gitlab Inc Cl A | GTLB | 47,000 | $2.1M | 0.14% |
| 103 | Analog Devices | ADI | 8,568 | $2.1M | 0.14% |
| 104 | ConocoPhillips | COP | 21,932 | $2.1M | 0.14% |
| 105 | Altria Group | MO | 30,427 | $2.0M | 0.13% |
| 106 | Honeywell | 438516106 | 9,290 | $2.0M | 0.13% |
| 107 | Welltower Inc | WELL | 10,715 | $1.9M | 0.12% |
| 108 | Intel Corp | INTC | 56,589 | $1.9M | 0.12% |
| 109 | GE Aerospace | 369604301 | 6,179 | $1.9M | 0.12% |
| 110 | Stanley Black & Decker | SWK | 24,600 | $1.8M | 0.12% |
| 111 | Intuit | INTU | 2,645 | $1.8M | 0.12% |
| 112 | U S Bancorp | USB-PS | 35,750 | $1.7M | 0.11% |
| 113 | Accenture PLC | ACN | 6,840 | $1.7M | 0.11% |
| 114 | ServiceNow | NOW | 1,800 | $1.7M | 0.11% |
| 115 | First Solar Inc | FSLR | 7,500 | $1.7M | 0.11% |
| 116 | NextEra Energy | NEE-PW | 21,335 | $1.6M | 0.10% |
| 117 | Netflix | NFLX | 1,300 | $1.6M | 0.10% |
| 118 | Eaton Corp | ETN | 4,086 | $1.5M | 0.10% |
| 119 | Procore Technologies Inc | PCOR | 20,000 | $1.5M | 0.09% |
| 120 | Boeing | BA-PA | 6,175 | $1.3M | 0.09% |
| 121 | Robinhood Markets Inc | 770700102 | 9,300 | $1.3M | 0.09% |
| 122 | Phillips 66 | PSX | 9,639 | $1.3M | 0.09% |
| 123 | Dominion Energy | D | 20,378 | $1.2M | 0.08% |
| 124 | Quantum Scape Corp | 71467V109 | 101,000 | $1.2M | 0.08% |
| 125 | Boston Scientific | BSX | 12,400 | $1.2M | 0.08% |
| 126 | UBS AG | UBS | 29,000 | $1.2M | 0.08% |
| 127 | Charles Schwab Corp | SCHW-PJ | 11,900 | $1.1M | 0.07% |
| 128 | Thermo Fisher Scientific | TMO | 2,300 | $1.1M | 0.07% |
| 129 | Blackstone Group | BX | 6,410 | $1.1M | 0.07% |
| 130 | Equifax Inc | EFX | 4,250 | $1.1M | 0.07% |
| 131 | Invesco QQQ Tr Unit Ser 1 | IVZ | 1,656 | $994,172 | 0.06% |
| 132 | Progressive Corp | 743315103 | 4,000 | $987,800 | 0.06% |
| 133 | Edwards Lifesciences | EW | 12,600 | $979,902 | 0.06% |
| 134 | PNC Finl | 693475105 | 4,812 | $966,875 | 0.06% |
| 135 | GE Vernova Inc | GEV | 1,548 | $951,865 | 0.06% |
| 136 | Applovin Corp | APP | 1,312 | $942,724 | 0.06% |
| 137 | Sysco Corp | SYY | 11,000 | $905,740 | 0.06% |
| 138 | Agilent | A | 7,000 | $898,450 | 0.06% |
| 139 | Trane Tech PLC | TT | 2,100 | $886,116 | 0.06% |
| 140 | General Dynamics | GD | 2,500 | $852,500 | 0.06% |
| 141 | Lincoln National Corporation | 534187109 | 20,800 | $838,864 | 0.05% |
| 142 | Fifth Third Bancorp | FITBM | 18,400 | $819,720 | 0.05% |
| 143 | Genuine Parts Company | GPC | 5,900 | $817,740 | 0.05% |
| 144 | AT&T Inc | T-PC | 28,855 | $814,865 | 0.05% |
| 145 | Dover Corporation | DOV | 4,700 | $784,101 | 0.05% |
| 146 | Leidos Holdings Inc. | LDOS | 4,000 | $755,840 | 0.05% |
| 147 | Take Two | TTWO | 2,900 | $749,244 | 0.05% |
| 148 | CarGurus Inc | CARG | 19,400 | $722,262 | 0.05% |
| 149 | Baidu Inc | BAIDF | 5,400 | $711,558 | 0.05% |
| 150 | Sherwin-Williams | SHW | 1,900 | $657,894 | 0.04% |
| 151 | Advanced Micro | AMD | 4,019 | $650,234 | 0.04% |
| 152 | Kimberly-Clark | KMB | 5,100 | $634,134 | 0.04% |
| 153 | CSX Corp | CSX | 17,600 | $624,976 | 0.04% |
| 154 | AstraZeneca PLC | AZN | 8,026 | $615,755 | 0.04% |
| 155 | Novartis AG | NVSEF | 4,700 | $602,728 | 0.04% |
| 156 | Verizon Communications Inc | VZ | 13,400 | $588,930 | 0.04% |
| 157 | Palantir Technologies Inc | PLTR | 3,200 | $583,744 | 0.04% |
| 158 | Nike Inc Cl B | NKE | 8,320 | $580,154 | 0.04% |
| 159 | Huntington Ingalls Industries | 446413106 | 2,000 | $575,820 | 0.04% |
| 160 | Carrier Global | CARR | 8,900 | $531,330 | 0.03% |
| 161 | Ross Stores | ROST | 3,467 | $528,336 | 0.03% |
| 162 | Williams-Sonoma | WSM | 2,700 | $527,715 | 0.03% |
| 163 | 3M Company | MMM | 3,400 | $527,612 | 0.03% |
| 164 | Nucor Corp | NUE | 3,888 | $526,552 | 0.03% |
| 165 | Gilead Sciences | GILD | 4,577 | $507,994 | 0.03% |
| 166 | Doordash Inc | DASH | 1,825 | $496,382 | 0.03% |
| 167 | Aptiv PLC | APTV | 5,700 | $491,454 | 0.03% |
| 168 | FMC Corporation | FMC | 14,448 | $485,886 | 0.03% |
| 169 | Blackrock Inc | BLK | 416 | $485,002 | 0.03% |
| 170 | Novo Nordisk ADR | NONOF | 8,675 | $481,376 | 0.03% |
| 171 | Marathon Petroleum Corp | MARA | 2,460 | $474,140 | 0.03% |
| 172 | Rockwell | ROK | 1,300 | $454,389 | 0.03% |
| 173 | Fidelity Nationl | 31620M106 | 6,775 | $446,743 | 0.03% |
| 174 | Petroleo Brasileiro | 71654V408 | 33,200 | $420,312 | 0.03% |
| 175 | Corteva Inc | CTVA | 5,967 | $403,562 | 0.03% |
| 176 | Digital Realty Trust | 253868103 | 2,319 | $400,909 | 0.03% |
| 177 | Microchip | MCHPP | 6,200 | $398,164 | 0.03% |
| 178 | Humana | HUM | 1,525 | $396,759 | 0.03% |
| 179 | Constl. Energy Corporation | CEG | 1,200 | $394,884 | 0.03% |
| 180 | McCormick and Co | MKC-V | 5,800 | $388,078 | 0.03% |
| 181 | Zoetis Inc | ZTS | 2,500 | $365,800 | 0.02% |
| 182 | Shell PLC | RYDAF | 5,100 | $364,803 | 0.02% |
| 183 | Plains GP Holdings | PAGP | 20,000 | $364,800 | 0.02% |
| 184 | Axon Enterprise Inc | AXON | 500 | $358,820 | 0.02% |
| 185 | Science Applications Intl Corp | 808625107 | 3,500 | $347,795 | 0.02% |
| 186 | Vulcan Materials | 929160109 | 1,100 | $338,382 | 0.02% |
| 187 | Linde PLC | LIN | 701 | $332,975 | 0.02% |
| 188 | AppFolio Inc | APPF | 1,200 | $330,792 | 0.02% |
| 189 | Palo Alto Networks Inc | PANW | 1,600 | $325,792 | 0.02% |
| 190 | Sealed Air | SE | 8,900 | $314,615 | 0.02% |
| 191 | Baxter Intl | 071813109 | 13,200 | $300,564 | 0.02% |
| 192 | Ingersoll-Rand PLC | IR | 3,601 | $297,515 | 0.02% |
| 193 | ASML Holding NV | ASMLF | 300 | $290,427 | 0.02% |
| 194 | Valero Energy | VLO | 1,700 | $289,442 | 0.02% |
| 195 | Keysight Technologies | KEYS | 1,600 | $279,872 | 0.02% |
| 196 | Kraft Heinz Co | KHC | 10,608 | $276,232 | 0.02% |
| 197 | T Rowe Price Grp Inc | TROW | 2,600 | $266,864 | 0.02% |
| 198 | Fulton Financial | 360271100 | 14,000 | $260,820 | 0.02% |
| 199 | Allstate Corp | ALL-PJ | 1,200 | $257,580 | 0.02% |
| 200 | Metlife Inc | MET-PF | 3,108 | $256,006 | 0.02% |
| 201 | Chubb Limited | CB | 882 | $248,944 | 0.02% |
| 202 | Danaher Corp | 235851102 | 1,200 | $237,912 | 0.02% |
| 203 | Levi Strauss & Co | LEVI | 10,000 | $233,000 | 0.02% |
| 204 | Oklo Inc. | OKLO | 2,000 | $223,260 | 0.01% |
| 205 | Capital One Financial | 14040H105 | 1,019 | $216,619 | 0.01% |
| 206 | Energy Transfer LP | ET-PI | 12,300 | $211,068 | 0.01% |
| 207 | BP PLC ADS | BPPFF | 6,000 | $206,760 | 0.01% |
| 208 | Becton Dickenson & Co | BDX | 1,100 | $205,887 | 0.01% |
| 209 | Exelon Corp | EXC | 4,500 | $202,545 | 0.01% |
| 210 | American Electric Power | 025537101 | 1,800 | $202,500 | 0.01% |
| 211 | Agnico Eagle Mines Limit | AEM | 1,200 | $202,272 | 0.01% |
| 212 | Corning | GLW | 2,445 | $200,563 | 0.01% |
| 213 | Diageo PLC ADR | DGEAF | 2,100 | $200,403 | 0.01% |