Institutional Manager · CIK 0001161670
CULLINAN ASSOCIATES INC
LOUISVILLE, KY · File #028-10216
Latest AUM
$1.48B
Positions
211
Top-10 Concentration
51.7%
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 |
|---|---|---|---|---|---|
| REDUCE | Coinbase Global Inc. | COIN | -255,500 | -$57.8M | -$28.7M |
| REDUCE | Nvidia Corp | NVDA | -30,194 | -$5.6M | -$9,016 |
| ADD | Bank Of America | 060505104 | +97,640 | +$5.4M | +$200,285 |
| ADD | Amazon | AMZN | +17,320 | +$4.0M | +$1.3M |
| REDUCE | Lowes Companies Inc | 548661107 | -16,009 | -$3.9M | -$842,826 |
| REDUCE | J P Morgan Chase & Co | VYLD | -11,616 | -$3.7M | +$551,551 |
| REDUCE | Airbnb Inc | ABNB | -27,214 | -$3.7M | +$1.2M |
| ADD | Alphabet Class C | GOOG | +10,890 | +$3.4M | +$6.4M |
| ADD | C H Robinsin Worldwide | CHRW | +19,700 | +$3.2M | +$867,816 |
| REDUCE | Wal-Mart Stores Inc | WMT | -24,175 | -$2.7M | +$4.6M |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 2025211 pos · $1.48B
- 13F HOLDINGS REPORTQ/E Sep 2025213 pos · $1.54B
- 13F HOLDINGS REPORTQ/E Jun 2025210 pos · $1.52B
- 13F HOLDINGS REPORTQ/E Mar 2025216 pos · $1.41B
- 13F HOLDINGS REPORTQ/E Dec 2024217 pos · $1.56B
- 13F HOLDINGS REPORTQ/E Sep 2024232 pos · $1.77B
- 13F HOLDINGS REPORTQ/E Jun 2024231 pos · $1.77B
- 13F HOLDINGS REPORTQ/E Mar 2024241 pos · $1.78B
- 13F HOLDINGS REPORTQ/E Dec 2023242 pos · $1.72B
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | Apple Inc | AAPL | 446,756 | $121.5M | 10.20% |
| 2 | Coca-Cola Company | KO | 1,365,746 | $95.5M | 8.02% |
| 3 | Microsoft Corp | MSFT | 177,745 | $86.0M | 7.22% |
| 4 | S&P Global Inc. | SPGI | 121,940 | $63.7M | 5.35% |
| 5 | Wal-Mart Stores Inc | WMT | 521,003 | $58.0M | 4.87% |
| 6 | Johnson & Johnson | JNJ | 194,105 | $40.2M | 3.37% |
| 7 | Alphabet Class A | GOOG | 126,728 | $39.7M | 3.33% |
| 8 | SPDR S&P 500 Trust | SPY | 56,861 | $38.8M | 3.26% |
| 9 | Procter & Gamble Co | 742718109 | 259,050 | $37.1M | 3.12% |
| 10 | Intl Business Machines Corp | INTR | 119,106 | $35.3M | 2.96% |
| 11 | Alphabet Class C | GOOG | 101,414 | $31.8M | 2.67% |
| 12 | Exxon Mobil | XOM | 251,604 | $30.3M | 2.54% |
| 13 | Amazon | AMZN | 130,713 | $30.2M | 2.53% |
| 14 | Vertex Pharmaceutical | VRTX | 51,312 | $23.3M | 1.95% |
| 15 | J P Morgan Chase & Co | VYLD | 69,616 | $22.4M | 1.88% |
| 16 | Oracle Corp | ORCL-PD | 113,241 | $22.1M | 1.85% |
| 17 | McDonalds Corp | MCD | 64,268 | $19.6M | 1.65% |
| 18 | AbbVie Inc | ABBV | 83,375 | $19.1M | 1.60% |
| 19 | Caterpillar | CAT | 30,289 | $17.4M | 1.46% |
| 20 | Lam Research Corp | LRCX | 97,000 | $16.6M | 1.39% |