CULLINAN ASSOCIATES INC

CIK: 0001161670SEC EDGAR →

Portfolio Value

$1.5T

Holdings

211

As of

Q4 2025

New Positions

211

Closed Positions

Portfolio Value History

Top 10 Holdings

Rank	Stock	Shares	Value	% of Portfolio
1	AAPL Apple Inc	446,756	$121.5B	8.23%
2	KO Coca-Cola Company	1,365,746	$95.5B	6.47%
3	MSFT Microsoft Corp	177,745	$86.0B	5.83%
4	SPGI S&P Global Inc.	121,940	$63.7B	4.32%
5	WMT Wal-Mart Stores Inc	521,003	$58.0B	3.93%
6	JNJ Johnson & Johnson	194,105	$40.2B	2.72%
7	GOOGL Alphabet Class A	126,728	$39.7B	2.69%
8	SPY SPDR S&P 500 Trust	56,861	$38.8B	2.63%
9	PG Procter & Gamble Co	259,050	$37.1B	2.52%
10	IBM Intl Business Machines Corp	119,106	$35.3B	2.39%

Quarterly Changes

Top Buys

AAPLNEW

$121.5B

KONEW

$95.5B

MSFTNEW

$86.0B

SPGINEW

$63.7B

WMTNEW

$58.0B

Top Sells

No sells this quarter

New Positions (211)

AAPL

$121.5B · 447K shares

$95.5B · 1.4M shares

$86.0B · 178K shares

$63.7B · 122K shares

$58.0B · 521K shares

$40.2B · 194K shares

$39.7B · 127K shares

$38.8B · 57K shares

$37.1B · 259K shares

$35.3B · 119K shares

$31.8B · 101K shares

$30.3B · 252K shares

$30.2B · 131K shares

$23.3B · 51K shares

$22.4B · 70K shares

$22.1B · 113K shares

$19.6B · 64K shares

$19.1B · 83K shares

$17.4B · 30K shares

$16.6B · 97K shares

$16.2B · 67K shares

$16.1B · 106K shares

$16.0B · 43K shares

$15.7B · 142K shares

$15.4B · 83K shares

$15.2B · 59K shares

$14.5B · 71K shares

$13.9B · 21K shares

$13.7B · 103K shares

$13.2B · 76K shares

$11.8B · 14K shares

$11.3B · 130K shares

$11.0B · 13K shares

$10.6B · 23K shares

CME

$10.6B · 39K shares

KLAC

$10.4B · 9K shares

$10.3B · 30K shares

$10.2B · 31K shares

$10.1B · 124K shares

$10.1B · 145K shares

$9.7B · 85K shares

$9.6B · 20K shares

$9.5B · 27K shares

$8.6B · 156K shares

$8.6B · 8K shares

$8.5B · 64K shares

$8.4B · 55K shares

$8.1B · 50K shares

$7.8B · 78K shares

$7.6B · 44K shares

$7.5B · 26K shares

$7.4B · 96K shares

$7.3B · 54K shares

$7.1B · 44K shares

Berkshire Hathaway Cl B

$6.7B · 13K shares

$6.6B · 25K shares

$5.6B · 19K shares

$5.5B · 94K shares

$5.4B · 48K shares

$5.3B · 51K shares

$5.2B · 12K shares

$4.9B · 32K shares

$4.9B · 122K shares

$4.7B · 9K shares

$4.7B · 27K shares

$4.7B · 109K shares

PEP

$4.7B · 33K shares

WFC

$4.6B · 50K shares

$4.3B · 8K shares

$4.2B · 43K shares

$4.2B · 18K shares

$4.1B · 7K shares

$4.1B · 33K shares

$3.8B · 47K shares

$3.7B · 47K shares

$3.5B · 30K shares

$3.4B · 14K shares

$3.4B · 153K shares

$3.3B · 7K shares

$3.2B · 18K shares

$3.2B · 106K shares

$3.2B · 12K shares

$3.1B · 5K shares

$3.1B · 9K shares

$3.0B · 9K shares

$3.0B · 9K shares

$2.9B · 18K shares

$2.9B · 22K shares

$2.8B · 57K shares

$2.8B · 3K shares

$2.8B · 5K shares

$2.8B · 51K shares

$2.6B · 10K shares

$2.4B · 28K shares

$2.4B · 252K shares

$2.4B · 44K shares

$2.3B · 8K shares

$2.2B · 5K shares

$2.2B · 7K shares

$2.1B · 56K shares

$2.0B · 23K shares

$2.0B · 21K shares

$2.0B · 8K shares

$1.9B · 10K shares

$1.9B · 35K shares

$1.8B · 25K shares

$1.8B · 47K shares

$1.8B · 30K shares

INTU

$1.8B · 3K shares

NEE

$1.7B · 21K shares

HON

$1.6B · 8K shares

$1.6B · 5K shares

$1.5B · 5K shares

$1.5B · 20K shares

$1.4B · 9K shares

$1.4B · 55K shares

$1.3B · 29K shares

$1.3B · 6K shares

$1.3B · 2K shares

$1.3B · 14K shares

$1.3B · 4K shares

$1.2B · 10K shares

$1.2B · 20K shares

SCHW

$1.2B · 12K shares

BSX

$1.2B · 12K shares

PANW

$1.1B · 6K shares

$1.1B · 13K shares

NDQ

$1.0B · 2K shares

HOOD

$1.0B · 9K shares

$988.0M · 6K shares

$952.0M · 7K shares

$928.0M · 4K shares

$926.0M · 21K shares

$922.0M · 4K shares

$910.0M · 4K shares

Quantum Scape Corp

$895.0M · 86K shares

APP

$884.0M · 1K shares

FITB

$861.0M · 18K shares

$841.0M · 3K shares

$817.0M · 2K shares

$810.0M · 11K shares

$796.0M · 4K shares

$794.0M · 1K shares

$742.0M · 3K shares

$737.0M · 8K shares

$725.0M · 6K shares

$721.0M · 4K shares

$705.0M · 5K shares

$680.0M · 2K shares

$647.0M · 5K shares

$638.0M · 18K shares

$634.0M · 4K shares

$624.0M · 3K shares

$572.0M · 5K shares

$548.0M · 2K shares

$544.0M · 3K shares

$531.0M · 8K shares

$513.0M · 13K shares

$505.0M · 1K shares

$482.0M · 3K shares

$475.0M · 9K shares

$450.0M · 7K shares

$441.0M · 9K shares

$433.0M · 6K shares

$423.0M · 1K shares

$414.0M · 11K shares

$413.0M · 2K shares

$409.0M · 2K shares

$408.0M · 2K shares

$400.0M · 2K shares

$395.0M · 6K shares

$395.0M · 6K shares

$393.0M · 33K shares

$393.0M · 6K shares

$386.0M · 2K shares

$383.0M · 4K shares

$382.0M · 20K shares

$374.0M · 5K shares

$358.0M · 2K shares

$352.0M · 4K shares

$325.0M · 2K shares

$318.0M · 653 shares

$314.0M · 3K shares

$314.0M · 13K shares

$313.0M · 1K shares

$312.0M · 1K shares

$309.0M · 3K shares

$294.0M · 4K shares

$288.0M · 676 shares

$285.0M · 4K shares

AXON

$283.0M · 500 shares

APPF

$279.0M · 1K shares

VLO

$276.0M · 2K shares

$275.0M · 882 shares

DHR

$274.0M · 1K shares

FULT

$270.0M · 14K shares

TROW

$266.0M · 3K shares

$263.0M · 8K shares

$261.0M · 3K shares

$252.0M · 10K shares

$252.0M · 13K shares

$249.0M · 1K shares

$246.0M · 1K shares

$216.0M · 750 shares

$216.0M · 1K shares

$216.0M · 2K shares

$214.0M · 200 shares

$207.0M · 10K shares

$203.0M · 1K shares

$202.0M · 12K shares

FMC

$200.0M · 14K shares

Sector Breakdown

Sector	# Holdings	Value	%
Technology	38	$398.1B	27.0%
Financial Services	37	$247.5B	16.8%
Consumer Defensive	11	$216.5B	14.7%
Healthcare	25	$137.4B	9.3%
Communication Services	11	$125.6B	8.5%
Industrials	31	$110.0B	7.5%
Consumer Cyclical	15	$105.6B	7.2%
Energy	13	$56.3B	3.8%
Unknown	13	$43.6B	3.0%
Utilities	6	$18.9B	1.3%
Basic Materials	7	$8.6B	0.6%
Real Estate	4	$7.2B	0.5%