CULLINAN ASSOCIATES INC
Long book
$1.24B
Q1 2026
Positions
207
Top-10 weight
42%
concentration
Last quarter
+13.5%
SPY +14.8%
Turnover
7%
of book per quarter
Strategy in plain words
auto-generated from filingsCULLINAN ASSOCIATES INC is an institutional manager, running a $1.24B US long book across 207 positions.
The portfolio is moderately concentrated (top 10 ≈ 42% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: APPLE INC, COCA-COLA CO/THE, MICROSOFT CORP, S&P GLOBAL INC, JOHNSON & JOHNSON.
Over the last 9 quarters its long book ran on average 0.3pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.9%
Q2 2024
+7.1%
Q3 2024
+1.6%
Q4 2024
-2.6%
Q1 2025
+9.9%
Q2 2025
+5.5%
Q3 2025
+1.5%
Q4 2025
-1.4%
Q1 2026
+13.5%
Sector allocation
Technology 31%
Healthcare 11%
Consumer discretionary 10%
Consumer staples 10%
Financials 9%
Industrials 9%
Services media 8%
Other 5%
Long book by quarter
What does CULLINAN ASSOCIATES own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| AAPL APPLE INC | Technology | 400.9K | $101.7M | 8.2% | -10.3% |
| KO COCA-COLA CO/THE | Consumer staples | 1.3M | $99.9M | 8.1% | -3.9% |
| MSFT MICROSOFT CORP | Technology | 156.4K | $57.9M | 4.7% | -12.0% |
| SPGI S&P GLOBAL INC | Services media | 121.9K | $51.8M | 4.2% | 0.0% |
| JNJ JOHNSON & JOHNSON | Healthcare | 183.0K | $44.7M | 3.6% | -5.7% |
| XOM EXXON MOBIL CORP | Energy | 225.9K | $38.3M | 3.1% | -10.2% |
| PG PROCTER & GAMBLE CO/THE | Other | 225.7K | $32.6M | 2.6% | -12.9% |
| GOOGL ALPHABET INC-CL A | Technology | 103.8K | $29.8M | 2.4% | -18.1% |
| GOOG ALPHABET INC-CL C | Technology | 96.2K | $27.6M | 2.2% | -5.1% |
| AMZN AMAZON.COM INC | Consumer discretionary | 117.8K | $24.5M | 2.0% | -9.9% |
| IBM INTL BUSINESS MACHINES CORP | Technology | 96.6K | $23.4M | 1.9% | -18.9% |
| VRTX VERTEX PHARMACEUTICALS INC | Healthcare | 51.8K | $23.1M | 1.9% | +0.9% |
| JPM JPMORGAN CHASE & CO | Financials | 64.6K | $19.0M | 1.5% | -7.2% |
| WMT WALMART INC | Consumer discretionary | 142.2K | $17.7M | 1.4% | -72.7% |
| MCD MCDONALD'S CORP | Consumer discretionary | 56.7K | $17.6M | 1.4% | -11.9% |
| AMAT APPLIED MATERIALS INC | Technology | 51.5K | $17.6M | 1.4% | -12.8% |
| CVX CHEVRON CORP | Energy | 80.4K | $16.6M | 1.3% | -23.9% |
| ABBV ABBVIE INC | Healthcare | 73.5K | $16.0M | 1.3% | -11.9% |
| AFL AFLAC INC | Financials | 138.4K | $15.2M | 1.2% | -2.7% |
| LOW LOWE'S COS INC | Consumer discretionary | 61.7K | $14.6M | 1.2% | -8.0% |
| LRCX LAM RESEARCH CORP | Industrials | 64.5K | $13.8M | 1.1% | -33.5% |
| TXN TEXAS INSTRUMENTS INC | Technology | 67.1K | $13.0M | 1.1% | -12.0% |
| ORCL ORACLE CORP | Technology | 85.8K | $12.6M | 1.0% | -24.2% |
| AXP AMERICAN EXPRESS CO | Financials | 40.5K | $12.3M | 1.0% | -6.3% |
| CAT CATERPILLAR INC | Industrials | 16.8K | $11.9M | 1.0% | -44.6% |
| DE DEERE & CO | Industrials | 20.8K | $11.7M | 0.9% | -8.9% |
| META META PLATFORMS INC-CLASS A | Technology | 19.9K | $11.4M | 0.9% | -5.9% |
| LMT LOCKHEED MARTIN CORP | Industrials | 18.0K | $10.9M | 0.9% | -9.9% |
| KLAC KLA CORP | Other | 7.2K | $10.6M | 0.9% | -15.6% |
| NVDA NVIDIA CORP | Technology | 59.4K | $10.4M | 0.8% | -28.0% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 10.0K | $10.0M | 0.8% | -26.7% |
| SO SOUTHERN CO/THE | Utilities | 103.3K | $10.0M | 0.8% | -20.4% |
| UPS UNITED PARCEL SERVICE-CL B | Industrials | 92.8K | $9.1M | 0.7% | +18.5% |
| UBER UBER TECHNOLOGIES INC | Services media | 126.8K | $9.1M | 0.7% | +2.7% |
| CME CME GROUP INC | Financials | 30.7K | $9.1M | 0.7% | -20.8% |
| QLYS QUALYS INC | Technology | 102.8K | $9.0M | 0.7% | Held |
| AMGN AMGEN INC | Healthcare | 25.5K | $9.0M | 0.7% | -18.1% |
| HD HOME DEPOT INC | Consumer discretionary | 27.3K | $9.0M | 0.7% | -9.1% |
| NYT NEW YORK TIMES CO-A | Other | 102.7K | $8.6M | 0.7% | -29.3% |
| V VISA INC-CLASS A SHARES | Services media | 27.5K | $8.3M | 0.7% | +1.8% |
| TJX TJX COMPANIES INC | Consumer discretionary | 51.3K | $8.2M | 0.7% | -6.7% |
| DIS WALT DISNEY CO/THE | Services media | 83.0K | $8.0M | 0.6% | -2.6% |
| CSCO CISCO SYSTEMS INC | Technology | 101.1K | $7.8M | 0.6% | +5.7% |
| TRV TRAVELERS COS INC/THE | Financials | 25.1K | $7.3M | 0.6% | -3.0% |
| BAC BANK OF AMERICA CORP | Financials | 146.7K | $7.2M | 0.6% | -6.2% |
| QCOM QUALCOMM INC | Technology | 53.5K | $6.9M | 0.6% | +20.7% |
| EMR EMERSON ELECTRIC CO | Industrials | 51.9K | $6.8M | 0.5% | -18.9% |
| ABNB AIRBNB INC-CLASS A | Services media | 53.6K | $6.8M | 0.5% | -0.7% |
| GS GOLDMAN SACHS GROUP INC | Financials | 7.8K | $6.6M | 0.5% | -37.9% |
| LLY ELI LILLY & CO | Healthcare | 7.0K | $6.4M | 0.5% | -12.5% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 1, 2026 | 207 | $1.24B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 30, 2026 | 211 | $1.48B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 27, 2025 | 213 | $1.54B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 22, 2025 | 210 | $1.52B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 22, 2025 | 216 | $1.41B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 24, 2025 | 217 | $1.56B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 23, 2024 | 232 | $1.77B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 10, 2024 | 231 | $1.77B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 18, 2024 | 241 | $1.78B | canonical | SEC ↗ |
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