Cullen Capital Management, LLC Q2 2019 Filing

Filed July 30, 2019

Portfolio Value

$2.6T

Holdings

133

Report Date

Q2 2019

Filing Type

13F-HR

All Holdings (133 positions)

#	Stock	Shares	Value	% Portfolio
1	MRKMerck & Co. Inc.	950,095	$79.7B	3.11%
2	NVSNNovartis AG (ADR)	866,666	$79.1B	3.09%
3	NEENextEra Energy Inc	385,725	$79.0B	3.08%
4	GPCGenuine Parts Co.	728,485	$75.5B	2.95%
5	WELLWelltower Inc.	922,540	$75.2B	2.94%
6	JPMJP Morgan Chase & Co.	660,630	$73.9B	2.88%
7	CSCOCisco Systems Inc.	1,335,150	$73.1B	2.85%
8	CBChubb Ltd.	491,621	$72.4B	2.83%
9	JNJJohnson & Johnson	517,795	$72.1B	2.82%
10	PFEPfizer Inc.	1,633,613	$70.8B	2.76%
11	MSFTMicrosoft Corp.	524,835	$70.3B	2.74%
12	CVXChevron Corp.	545,405	$67.9B	2.65%
13	—SunTrust Banks Inc.	1,078,460	$67.8B	2.65%
14	GLWCorning Inc.	2,014,550	$66.9B	2.61%
15	UNUSDUnilever NV (ADR)	1,085,940	$65.9B	2.57%
16	TRVThe Travelers Companies Inc.	421,470	$63.0B	2.46%
17	RTN1USDRaytheon Co.	351,090	$61.0B	2.38%
18	TAT&T Inc.	1,820,730	$61.0B	2.38%
19	DEODiageo PLC (ADR)	346,075	$59.6B	2.33%
20	KMBKimberly-Clark Corp.	442,490	$59.0B	2.30%
21	COPConocoPhillips	966,260	$58.9B	2.30%
22	R6C2Royal Dutch Shell PLC (ADR) Cl	890,600	$58.5B	2.29%
23	SIEBSiemens AG (ADR)	953,900	$56.9B	2.22%
24	MMM3M Co.	297,230	$51.5B	2.01%
25	BCEBCE Inc.	1,130,095	$51.4B	2.01%
26	4I1Philip Morris International In	585,234	$46.0B	1.79%
27	LLYEli Lilly & Co.	403,310	$44.7B	1.74%
28	JCIJohnson Controls International	1,062,005	$43.9B	1.71%
29	HBC2HSBC Holdings PLC (ADR)	1,041,560	$43.5B	1.70%
30	INTCIntel Corp.	859,845	$41.2B	1.61%
31	XLFIConsumer Staples Select Sector	698,000	$40.5B	1.58%
32	—HCP Inc.	1,167,995	$37.4B	1.46%
33	MOAltria Group Inc.	691,215	$32.7B	1.28%
34	XLFFinancial Select Sector SPDR F	1,157,500	$31.9B	1.25%
35	DDDuPont De Nemour	422,698	$31.7B	1.24%
36	DYHTarget Corp.	366,186	$31.7B	1.24%
37	XLEEnergy Select Sector SPDR Fund	479,000	$30.5B	1.19%
38	BABOEING CO/THE	80,650	$29.4B	1.15%
39	DOWDow Inc	445,321	$22.0B	0.86%
40	BACBank of America Corp.	644,400	$18.7B	0.73%
41	WFCWells Fargo & Co.	390,930	$18.5B	0.72%
42	XOMExxon Mobil Corp.	236,050	$18.1B	0.71%
43	MNODMMC Norilsk Nickel PJSC (ADR)	660,555	$14.9B	0.58%
44	WBAWalgreens Boots Alliance Inc.	244,465	$13.4B	0.52%
45	TSMTaiwan Semiconductor Manufactu	329,550	$12.9B	0.50%
46	IBNICICI Bank Ltd. (ADR)	1,010,100	$12.7B	0.50%
47	81299.HKAIA Group Ltd	1,153,200	$12.4B	0.49%
48	LUKOYLukoil PJSC (ADR)	145,850	$12.3B	0.48%
49	—OPAP SA	1,014,043	$11.4B	0.44%
50	CTVACorteva Inc	375,522	$11.1B	0.43%
51	G23AGlobaltrans Investment PLC	1,039,906	$9.7B	0.38%
52	SBERSberbank of Russia PJSC (ADR)	562,610	$8.6B	0.34%
53	XLBMaterials Select Sector SPDR F	138,000	$8.1B	0.32%
54	—PT Bank Rakyat Indonesia	24,563,000	$7.6B	0.30%
55	—CLSA - Power Grid Corp Exp 11/	2,411,218	$7.2B	0.28%
56	—KT&G Corp.	83,450	$7.1B	0.28%
57	ABEVAmbev SA (ADR)	1,497,580	$7.0B	0.27%
58	CPACopa Holdings S.A.	65,525	$6.4B	0.25%
59	—Indo Tambangraya Megah PT	4,849,400	$6.0B	0.24%
60	ROG.SWRoche Holding AG	20,085	$5.7B	0.22%
61	—Nestle S.A.	53,615	$5.5B	0.22%
62	—Royal Dutch Shell Class B	168,360	$5.5B	0.22%
63	—Ascendas Real Estate Investmen	2,314,300	$5.3B	0.21%
64	—Allianz SE	21,960	$5.3B	0.21%
65	—Sonic Healthcare Ltd.	273,350	$5.2B	0.20%
66	—Zurich Insurance Group AG	14,935	$5.2B	0.20%
67	—United Overseas Bank Ltd.	262,360	$5.1B	0.20%
68	BACVerizon Communications Inc.	85,995	$4.9B	0.19%
69	—Siemens AG	40,355	$4.8B	0.19%
70	ADMArcher-Daniels-Midland Co.	115,658	$4.7B	0.18%
71	ETNEaton Corp. PLC	56,400	$4.7B	0.18%
72	MUV2.DEMuenchener Ruechversicherungs	18,500	$4.6B	0.18%
73	TTENTotal SA (ADR)	81,660	$4.6B	0.18%
74	ABJAABB Ltd. (ADR)	213,430	$4.3B	0.17%
75	—GlaxoSmithKline PLC	210,440	$4.2B	0.16%
76	MFCManulife Financial Corp.	231,600	$4.2B	0.16%
77	—Ascendas India Trust	4,013,700	$4.0B	0.16%
78	DUKDuke Energy Corp.	44,110	$3.9B	0.15%
79	—Smurfit Kappa Group PLC	128,590	$3.9B	0.15%
80	—BNP Paribas	76,715	$3.6B	0.14%
81	—Nippon Telegraph & Telephone C	77,335	$3.6B	0.14%
82	—UPM-Kymmene Oyj	126,895	$3.4B	0.13%
83	PPLPPL Corp.	107,190	$3.3B	0.13%
84	AZNAstraZeneca PLC (ADR)	78,450	$3.2B	0.13%
85	HSBCHSBC Holdings PLC	360,900	$3.0B	0.12%
86	SNYSanofi	33,420	$2.9B	0.11%
87	—Value Partners Group Ltd.	3,969,350	$2.6B	0.10%
88	—Engie	174,100	$2.6B	0.10%
89	—BOC Hong Kong Holdings Ltd.	548,015	$2.2B	0.08%
90	—BAE Systems PLC	334,550	$2.1B	0.08%
91	VIV1USDTelefonica Brasil SA (ADR)	152,865	$2.0B	0.08%
92	BMTABritish American Tobacco PLC (	46,030	$1.6B	0.06%
93	—Smiths Group PLC	80,650	$1.6B	0.06%
94	BBTUSDBB&T Corp.	30,950	$1.5B	0.06%
95	—Imperial Brands PLC	64,755	$1.5B	0.06%
96	MDTMedtronic PLC	14,610	$1.4B	0.06%
97	MDLZMondelez International Inc.	26,375	$1.4B	0.06%
98	VETVermilion Energy Inc.	63,300	$1.4B	0.05%
99	TMOThermo Fisher Scientific Inc.	4,500	$1.3B	0.05%
100	TRVCCitigroup Inc.	17,100	$1.2B	0.05%

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