Institutional Manager · CIK 0000039263
Cullen/Frost Bankers, Inc.
San Antonio, TX · File #028-00183
Latest AUM
$9.09B
Positions
1,460
Top-10 Concentration
46.9%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| NEW | NEW YORK LIFE INVTS ACTIVE E NYLI WINSLOW LAR | 45409F769 | +1,877,835 | +$101.8M | $0 |
| ADD | ISHARES TR CORE US AGGBD ET | 464287226 | +542,533 | +$54.2M | -$177,088 |
| ADD | PUTNAM ETF TRUST FOCUSED LAR CAP | 746729300 | +1,009,485 | +$46.0M | +$16.7M |
| ADD | SERVICENOW INC COM | NOW | +239,229 | +$36.6M | -$47.1M |
| ADD | NETFLIX INC COM | NFLX | +374,405 | +$35.1M | -$42.4M |
| ADD | ISHARES TR RUS MD CP GR ETF | 464287481 | +244,984 | +$33.5M | -$6.5M |
| REDUCE | SCHWAB STRATEGIC TR US DIVIDEND EQ | 808524797 | -1,135,782 | -$31.2M | +$387,798 |
| ADD | ISHARES TR IBOXX HI YD ETF | 464288513 | +246,871 | +$19.9M | -$96,996 |
| ADD | VANGUARD INDEX FDS GROWTH ETF | 922908736 | +32,974 | +$16.1M | +$4.8M |
| REDUCE | MICROSOFT CORP COM | MSFT | -21,861 | -$10.6M | -$31.8M |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 20251,460 pos · $9.09B
- 13F HOLDINGS REPORTQ/E Sep 20251,321 pos · $8.61B
- 13F HOLDINGS REPORTQ/E Jun 20251,298 pos · $7.98B
- 13F HOLDINGS REPORTQ/E Mar 20251,285 pos · $7.14B
- 13F HOLDINGS REPORTQ/E Dec 20241,348 pos · $7.32B
- 13F HOLDINGS REPORTQ/E Sep 20241,216 pos · $7.33B
- 13F HOLDINGS REPORTQ/E Jun 20241,241 pos · $6.90B
- 13F HOLDINGS REPORTQ/E Mar 20241,006 pos · $6.75B
- 13F HOLDINGS REPORTQ/E Dec 20231,151 pos · $5.75B
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | APPLE INC COM | AAPL | 1,889,776 | $513.8M | 8.44% |
| 2 | MICROSOFT CORP COM | MSFT | 905,532 | $437.9M | 7.20% |
| 3 | PUTNAM ETF TRUST FOCUSED LAR CAP | 746729300 | 6,852,855 | $312.3M | 5.13% |
| 4 | NVIDIA CORPORATION COM | NVDA | 1,616,358 | $301.5M | 4.95% |
| 5 | VANGUARD INDEX FDS GROWTH ETF | 922908736 | 610,480 | $297.8M | 4.89% |
| 6 | AMAZON COM INC COM | AMZN | 936,301 | $216.1M | 3.55% |
| 7 | ALPHABET INC CAP STK CL A | GOOG | 648,165 | $202.9M | 3.33% |
| 8 | ISHARES TR RUS MD CP GR ETF | 464287481 | 1,439,846 | $197.2M | 3.24% |
| 9 | ISHARES TR MSCI EAFE ETF | 464287465 | 1,951,231 | $187.4M | 3.08% |
| 10 | ISHARES INC MSCI EMRG CHN | 46434G764 | 2,555,605 | $185.7M | 3.05% |
| 11 | BROADCOM INC COM | AVGO | 510,358 | $176.6M | 2.90% |
| 12 | ISHARES TR RUS 1000 GRW ETF | 464287614 | 346,021 | $163.8M | 2.69% |
| 13 | ALPHABET INC CAP STK CL C | GOOG | 504,885 | $158.4M | 2.60% |
| 14 | VANGUARD INDEX FDS SMALL CP ETF | 922908751 | 567,959 | $146.5M | 2.41% |
| 15 | META PLATFORMS INC CL A | META | 207,361 | $136.9M | 2.25% |
| 16 | SPDR S&P 500 ETF TR TR UNIT | SPY | 196,075 | $133.7M | 2.20% |
| 17 | VANGUARD INDEX FDS MID CAP ETF | 922908629 | 441,169 | $128.0M | 2.10% |
| 18 | VISA INC COM CL A | V | 352,552 | $123.6M | 2.03% |
| 19 | ELI LILLY & CO COM | LLY | 103,672 | $111.4M | 1.83% |
| 20 | JPMORGAN CHASE & CO. COM | VYLD | 344,281 | $110.9M | 1.82% |