Cullen Capital Management, LLC

Name: Cullen Capital Management, LLC 13F holdings, Q1 2025
Creator: Cullen Capital Management, LLC
Published: 2025-05-15

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Cullen Capital Management, LLC reported 205 stock positions worth $8.7 billion. Its top holding was JPMorgan Chase (JPM) at 3.0% of the portfolio, followed by RTX (RTX, 3.0%) and Duke Energy (DUK, 3.0%). Compared with Q4 2024, it opened 15 new positions, sold out of 18, added to 74 and reduced 108. The biggest buy was a new position in Omnicom (OMC) and the biggest sale Broadcom (AVGO, shares −6%).

Most Recent 13F: Q2 2026
Location: New York, NY
CIK: 0001362535
Portfolio Value: $8.7B (Q1 2025)
SEC Filing: 0000950123-25-005569 ↗ filed May 15, 2025

Holdings Value

Holdings 205 stocks · $8.7B


JPM JPMorgan Chase & Co.	3.02%	1,067,210	$261.8M	Reduce -17.3%
RTX RTX Corp.	2.98%	1,948,742	$258.1M	Reduce -2.1%
DUK Duke Energy Corp.	2.98%	2,115,647	$258.0M	Reduce -1.2%
CSCO Cisco Systems Inc.	2.98%	4,180,770	$258.0M	Reduce -9.2%
MDT Medtronic PLC	2.82%	2,720,879	$244.5M	Add +6.4%
CVX Chevron Corp.	2.76%	1,426,319	$238.6M	Reduce -3.8%
NVS Novartis AG-Sponsored ADR	2.72%	2,108,684	$235.1M	Reduce -2.2%
XOM Exxon Mobil Corp.	2.66%	1,938,646	$230.6M	Reduce -1.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP	2.65%	5,500,100	$229.5M	Reduce -3.3%
JCI Johnson Controls Internation	2.62%	2,830,929	$226.8M	Reduce -7.1%
KVUE Kenvue Inc.	2.51%	9,050,279	$217.0M	Reduce -0.6%
CB Chubb Ltd.	2.44%	699,376	$211.2M	Reduce -11.6%
VICI Vici Properties Inc. filed as VICI PPTYS INC	2.43%	6,460,347	$210.7M	Add +1.9%
PM Philip Morris International	2.37%	1,292,508	$205.2M	Reduce -36.1%
GD General Dynamics Corp.	2.37%	752,071	$205.0M	Add +1.4%
JNJ Johnson & Johnson	2.37%	1,234,886	$204.8M	Add +4.7%
DOC Healthpeak Properties Inc.	2.36%	10,095,597	$204.1M	Add +14.4%
MRK Merck & Co. Inc.	2.32%	2,236,676	$200.8M	Add +13.8%
C Citigroup Inc.	2.29%	2,796,368	$198.5M	Reduce -5.7%
CMCSA Comcast Corp. Class A	2.28%	5,346,670	$197.3M	Add +8.2%
MS Morgan Stanley	2.24%	1,662,599	$194.0M	Reduce -9.2%
TFC Truist Financial Corp.	2.13%	4,481,647	$184.4M	Reduce -2.4%
T AT&T Inc.	2.08%	6,359,222	$179.8M	Reduce -9.5%
NEE Nextera Energy Inc.	2.07%	2,526,739	$179.1M	Reduce -0.7%
MO Altria Group Inc.	2.00%	2,882,310	$173.0M	Add +8.4%
GPC Genuine Parts Co.	1.86%	1,352,590	$161.1M	Add +8.1%
DOW Dow Inc.	1.83%	4,544,766	$158.7M	Add +21.4%
UL Unilever PLC	1.79%	2,596,946	$154.6M	Reduce -1.6%
AVGO Broadcom Inc.	1.64%	849,894	$142.3M	Reduce -6.5%
BCE Bce Inc.	1.63%	6,159,929	$141.4M	Add +74.6%
TRV The Travelers Cos Inc.	1.61%	528,196	$139.7M	Reduce -25.3%
UPS United Parcel Service Class B	1.54%	1,211,014	$133.2M	Add +60.0%
COP Conocophillips	1.54%	1,266,926	$133.1M	Reduce -0.1%
LOW Lowe's Cos Inc.	1.47%	544,029	$126.9M	Reduce -2.6%
PFE Pfizer Inc.	1.38%	4,723,322	$119.7M	Reduce -1.1%
CCI Crown Castle Inc.	1.33%	1,101,789	$114.8M	Add +0.6%
TGT Target Corp.	1.13%	939,473	$98.0M	Add +4.5%
MSFT Microsoft Corp.	0.97%	224,053	$84.1M	Reduce -4.4%
OMC Omnicom Group	0.97%	1,011,210	$83.8M	New
DEO Diageo PLC-Sponsored ADR	0.95%	784,044	$82.2M	Add +8.8%
QCOM Qualcomm Inc.	0.88%	493,511	$75.8M	Add +11.9%
EOG EOG Resources Inc.	0.82%	550,717	$70.6M	Add +1.7%
VZ Verizon Communications Inc.	0.79%	1,507,977	$68.4M	Add +6.1%
BMY Bristol-Myers Squibb Co.	0.79%	1,118,589	$68.2M	Reduce -4.1%
PPL PPL Corp.	0.78%	1,864,500	$67.3M	Reduce -1.4%
KDP Keurig Dr Pepper Inc.	0.71%	1,797,912	$61.5M	New
RIO Rio Tinto PLC-Spon ADR	0.64%	926,500	$55.7M	Add +10.1%
SYY Sysco Corp.	0.59%	685,214	$51.4M	Add +2.3%
BAX Baxter International Inc.	0.59%	1,496,127	$51.2M	Add +7.9%
BTI British American Tob-SP ADR	0.57%	1,199,582	$49.6M	Add +1.6%
CCEP Coca-Cola Europacific Partne	0.57%	563,792	$49.1M	Reduce -10.0%
KOF Coca-Cola Femsa Sab-SP ADR	0.55%	518,743	$47.4M	Add +9.2%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.54%	187,670	$46.7M	Reduce -5.9%
IBN Icici Bank Ltd.-Spon ADR	0.50%	1,383,721	$43.6M	Add +0.2%
MDLZ Mondelez International Inc. Class A	0.47%	595,344	$40.4M	Add +910.8%
ASX Ase Technology Holding -ADR	0.46%	4,497,235	$39.4M	Add +1.6%
SW Smurfit Westrock PLC	0.44%	851,665	$38.4M	Reduce -29.7%
ENB Enbridge Inc.	0.42%	826,654	$36.6M	Add +10417.2%
PBR Petroleo Brasileiro-Spon ADR	0.42%	2,506,251	$35.9M	Add +50.1%
PNC PNC Financial Services Group	0.40%	197,397	$34.7M	Add +1014.9%
SHEL Shell PLC-ADR	0.39%	460,039	$33.7M	Add +3.6%
TM Toyota Motor Corp. -Spon ADR	0.32%	159,055	$28.1M	Add +21.1%
TSM Taiwan Semiconductor-SP ADR	0.32%	164,444	$27.3M	Reduce -45.3%
SNY Sanofi-ADR	0.26%	401,110	$22.2M	Add +53.6%
LAUR Laureate Education Inc.	0.20%	864,715	$17.7M	Reduce -4.5%
TTE Totalenergies SE -Spon ADR	0.17%	229,097	$14.8M	Reduce -18.6%
BABA Alibaba Group Holding-SP ADR	0.10%	65,364	$8.6M	New
CPA Copa Holdings SA Class A	0.09%	87,260	$8.1M	Add +65.6%
EPI Wisdomtree India Earnings	0.09%	181,173	$7.9M	Reduce -37.0%
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC	0.08%	76,826	$7.1M	Reduce -58.5%
TCOM Trip.com Group Ltd.-ADR	0.08%	104,366	$6.6M	Reduce -40.4%
EWT iShares MSCI Taiwan ETF	0.07%	125,835	$6.0M	Reduce -56.6%
EWY iShares MSCI South Korea ETF	0.06%	101,217	$5.5M	Add +385.1%
KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC	0.06%	93,222	$5.0M	Reduce -26.9%
EWM iShares MSCI Malaysia ETF	0.06%	208,826	$4.8M	Reduce -59.4%
AXP American Express Co.	0.05%	16,664	$4.5M	Reduce -2.9%
CI The Cigna Group	0.05%	13,590	$4.5M	Reduce -1.3%
ET Energy Transfer LP	0.05%	228,496	$4.2M	Reduce -18.7%
ORCL Oracle Corp.	0.05%	29,799	$4.2M	Reduce -3.1%
WMT Walmart Inc.	0.05%	46,922	$4.1M	Reduce -9.8%
HON Honeywell International Inc.	0.04%	18,191	$3.9M	No change
SRE Sempra	0.04%	53,260	$3.8M	Add +5.0%
EPD Enterprise Products Partners	0.04%	108,870	$3.7M	Reduce -24.3%
ALL Allstate Corp.	0.04%	17,774	$3.7M	Reduce -4.3%
ETN Eaton Corp. PLC	0.04%	13,406	$3.6M	Reduce -5.5%
KTB Kontoor Brands Inc.	0.04%	1,558,688	$3.3M	Reduce -17.5%
AXTA Axalta Coating Systems Ltd.	0.04%	99,446	$3.3M	Reduce -1.4%
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.04%	31,869	$3.1M	Reduce -1.0%
INDA iShares MSCI India ETF	0.03%	56,115	$2.9M	Reduce -30.9%
AMAT Applied Materials Inc.	0.03%	19,635	$2.8M	Add +1.9%
BWA Borgwarner Inc.	0.03%	94,968	$2.7M	Add +3.8%
PKG Packaging Corp. of America	0.03%	12,245	$2.4M	Reduce -4.8%
UNP Union Pacific Corp.	0.03%	10,035	$2.4M	Reduce -3.8%
ARW Arrow Electronics Inc.	0.03%	22,158	$2.3M	Reduce -4.4%
MCD McDonald's Corp.	0.03%	7,041	$2.2M	Reduce -9.4%
SJM The JM Smucker Co. filed as SMUCKER J M CO	0.02%	17,324	$2.1M	Add +14.3%
BIL SS SPDR BB 1-3M T-Bill ETF	0.02%	22,359	$2.1M	New
RJF Raymond James Financial Inc.	0.02%	13,117	$1.8M	Add +8.9%
CNI Canadian Natl Railway Co.	0.02%	16,863	$1.6M	Reduce -5.0%
PG The Procter & Gamble Co.	0.02%	9,393	$1.6M	No change
CAG Conagra Brands Inc.	0.02%	59,596	$1.6M	Reduce -96.6%
SPG Simon Property Group Inc.	0.02%	9,221	$1.5M	Add +3.2%
DD Dupont DE Nemours Inc.	0.02%	20,245	$1.5M	Add +25.9%
AAPL Apple Inc.	0.02%	6,344	$1.4M	No change
TREE Lendingtree Inc.	0.02%	27,459	$1.4M	Add +1.3%
FHN First Horizon Corp.	0.02%	70,412	$1.4M	Reduce -16.5%
CSX CSX Corp.	0.02%	45,704	$1.3M	Add +8.1%
BA The Boeing Co.	0.02%	7,851	$1.3M	Reduce -5.1%
GE General Electric filed as GE AEROSPACE	0.01%	6,451	$1.3M	No change
AWK American Water Works Co. Inc.	0.01%	8,502	$1.3M	Add +51.4%
PEP Pepsico Inc.	0.01%	8,335	$1.2M	Reduce -0.8%
GOOGL Alphabet Inc. Class A	0.01%	8,043	$1.2M	Add +3.7%
FIS Fidelity National Info Serv	0.01%	16,350	$1.2M	Add +3.1%
MU Micron Technology Inc.	0.01%	13,215	$1.1M	Add +3.2%
VNOM Viper Energy Inc.	0.01%	24,594	$1.1M	Reduce -11.8%
WBD Warner Bros Discovery Inc.	0.01%	102,245	$1.1M	Add +10.9%
MMM 3M Co.	0.01%	7,321	$1.1M	Reduce -0.6%
WTRG Essential Utilities Inc.	0.01%	26,704	$1.1M	Add +54.6%
ADM Archer-Daniels-Midland Co.	0.01%	21,875	$1.1M	Reduce -3.1%
GLDD Great Lakes Dredge & Dock Co.	0.01%	118,452	$1.0M	Reduce -14.4%
WSBC Wesbanco Inc.	0.01%	31,701	$981K	New
VWO Vanguard Ftse Emerging Marke	0.01%	21,063	$953K	Reduce -65.6%
ABCB Ameris Bancorp	0.01%	16,398	$944K	Reduce -4.2%
CUZ Cousins Properties Inc.	0.01%	28,525	$841K	Reduce -16.5%
KMB Kimberly-Clark Corp.	0.01%	5,840	$831K	Add +5.8%
BX Blackstone Inc.	0.01%	5,845	$817K	Reduce -2.7%
PFSI Pennymac Financial Services	0.01%	8,138	$815K	Add +1.1%
AWR American States Water Co. filed as AMER STATES WTR CO	0.01%	10,341	$814K	Add +56.0%
HIW Highwoods Properties Inc.	0.01%	27,450	$814K	Add +1.4%
KFY Korn Ferry	0.01%	11,883	$806K	Add +1.0%
KO The Coca-Cola Co.	0.01%	10,429	$747K	Add +9.3%
PEG Public Service Enterprise GP	0.01%	8,999	$741K	No change
XLC SS Comm Select Sector SPDR	0.01%	7,649	$738K	Reduce -98.2%
ST Sensata Technologies Holdplc	0.01%	29,740	$722K	Reduce -4.4%
CTRA Coterra Energy Inc.	0.01%	24,890	$719K	Add +0.8%
XLV SS Health Care Select Sector	0.01%	4,815	$703K	Reduce -98.0%
SFNC Simmons First Natl Corp. Class A	0.01%	33,742	$693K	Add +1.3%
MBC Masterbrand Inc.	0.01%	52,361	$684K	Reduce -16.0%
POR Portland General Electric Co.	0.01%	15,233	$679K	Add +0.9%
XLB SS Materials Select Sector	0.01%	7,846	$675K	Reduce -95.5%
SSB Southstate Bank Corp.	0.01%	7,167	$665K	Add +1.2%
DOUG Douglas Elliman Inc.	0.01%	365,963	$629K	Reduce -18.4%
EFV iShares MSCI Eafe Value ETF	0.01%	10,558	$622K	Reduce -53.1%
XLI SS Industrial Select Sector	0.01%	4,712	$618K	Reduce -97.9%
XYL Xylem Inc.	0.01%	5,101	$609K	Add +49.1%
SWIM Latham Group Inc.	0.01%	94,429	$607K	Reduce -0.3%
CWT California Water Service Grp	0.01%	12,487	$605K	Add +148.1%
WTTR Select Water Solutions Inc.	0.01%	50,621	$532K	Reduce -19.4%
CNM Core & Main Inc. Class A	0.01%	10,964	$530K	Reduce -29.8%
FIBK First Interstate Bancsys-A	0.01%	18,214	$522K	Add +0.9%
VLTO Veralto Corp.	0.01%	5,228	$509K	Reduce -0.4%
WMS Advanced Drainage Systems Inc.	0.01%	4,625	$503K	Add +111.9%
VAC Marriott Vacations World	0.01%	7,788	$500K	Reduce -20.5%
EFSC Enterprise Financial Service	0.01%	9,240	$497K	Reduce -40.8%
XLY SS Consumer Disc Select Sect	0.01%	2,513	$496K	Reduce -95.0%
ABBV Abbvie Inc.	0.01%	2,342	$491K	Reduce -37.9%
GEV GE Vernova Inc.	0.01%	1,600	$488K	No change
PNR Pentair PLC	0.01%	5,285	$462K	Reduce -18.1%
LIN Linde PLC	0.01%	976	$454K	No change
WY Weyerhaeuser Co.	0.00%	14,397	$422K	Add +37.7%
TTEK Tetra Tech Inc.	0.00%	14,357	$420K	Add +30.3%
XLP SS Consumer Staples Sel Sect	0.00%	4,954	$405K	Reduce -96.4%
MBUU Malibu Boats Inc. Class A	0.00%	12,916	$396K	Reduce -43.5%
CROX Crocs Inc.	0.00%	3,728	$396K	Add +2.1%
XLK SS Technology Select Sector	0.00%	1,877	$388K	Reduce -93.5%
LDI Loandepot Inc. Class A	0.00%	324,490	$386K	Reduce -28.0%
D Dominion Energy Inc.	0.00%	6,879	$386K	Reduce -13.8%
GRTUF Granite Real Estate Investme	0.00%	8,190	$384K	New
MAS Masco Corp.	0.00%	5,277	$367K	Reduce -0.3%
YORW York Water Co. filed as YORK WTR CO	0.00%	10,475	$363K	New
WPC WP Carey Inc.	0.00%	5,728	$361K	New
CP Canadian Pacific Kansas City	0.00%	4,953	$348K	Reduce -7.4%
MHO M/I Homes Inc.	0.00%	3,039	$347K	Reduce -51.4%
CWCO Consolidated Water Co.-Ord SH	0.00%	13,721	$336K	Add +45.5%
STN Stantec Inc.	0.00%	4,052	$336K	New
VMI Valmont Industries	0.00%	1,168	$333K	Reduce -0.3%
STR Sitio Royalties Corp. Class A	0.00%	16,495	$328K	Reduce -11.4%
PLD Prologis Inc.	0.00%	2,920	$326K	New
GWRS Global Water Resources Inc.	0.00%	31,573	$326K	Add +90.4%
HTO H2O America filed as SJW GROUP	0.00%	5,634	$308K	New
MSEX Middlesex Water Co.	0.00%	4,695	$301K	Add +9.2%
ZWS Zurn Elkay Water Solutions C	0.00%	8,937	$295K	Reduce -18.8%
UIS Unisys Corp.	0.00%	63,632	$292K	Add +2.1%
CAT Caterpillar Inc.	0.00%	869	$287K	No change
IWN iShares Russell 2000 Value E	0.00%	1,873	$283K	Reduce -26.2%
PCH Potlatchdeltic Corp.	0.00%	5,926	$267K	New
ARTNA Artesian Resources Corp. Class A	0.00%	7,887	$258K	New
XLE SS Energy Select Sector	0.00%	2,709	$253K	Reduce -93.3%
AOS Smith (a.o.) Corp.	0.00%	3,873	$253K	New
IWD iShares Russell 1000 Value E	0.00%	1,294	$243K	Reduce -99.2%
DXJ Wisdomtree Japan Hedged Eq	0.00%	2,190	$241K	Reduce -96.6%
RYN Rayonier Inc.	0.00%	8,262	$230K	Reduce -3.1%
FEZ State Street SPDR Euro Stoxx	0.00%	4,024	$219K	Reduce -98.8%
PSA Public Storage	0.00%	721	$216K	Reduce -61.9%
LNN Lindsay Corp.	0.00%	1,704	$216K	Reduce -0.3%
DENN Denny's Corp.	0.00%	58,291	$214K	Add +2.2%
SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI	0.00%	11,762	$210K	New
DVY iShares Select Dividend ETF	0.00%	1,550	$208K	Reduce -94.1%
IP International Paper Co.	0.00%	3,890	$208K	Reduce -21.6%
XLF SS Financial Select Sector	0.00%	4,148	$207K	Reduce -76.6%
ECL Ecolab Inc.	0.00%	797	$202K	Reduce -44.4%
POOL Pool Corp.	0.00%	629	$200K	Reduce -31.9%
UA Under Armour Inc. Class C	0.00%	32,385	$193K	Add +2.3%
SUZ Suzano SA - Spon ADR	0.00%	19,595	$182K	Add +19.0%
LESLIES INC	0.00%	171,765	$126K	Add +189.1%

Portfolio Sells Q4 2024 → Q1 2025


AVGO Broadcom Inc.	Reduce -6.5%	1.64%	−0.81
JPM JPMorgan Chase & Co.	Reduce -17.3%	3.02%	−0.58
CAG Conagra Brands Inc.	Reduce -96.6%	0.02%	−0.55
XLC SS Comm Select Sector SPDR	Reduce -98.2%	0.01%	−0.47
PM Philip Morris International	Reduce -36.1%	2.37%	−0.47
EFA iShares MSCI Eafe ETF	Sold out	0.00%	−0.45
MS Morgan Stanley	Reduce -9.2%	2.24%	−0.44
TSM Taiwan Semiconductor-SP ADR	Reduce -45.3%	0.32%	−0.38
TRV The Travelers Cos Inc.	Reduce -25.3%	1.61%	−0.37
XLV SS Health Care Select Sector	Reduce -98.0%	0.01%	−0.37
IWD iShares Russell 1000 Value E	Reduce -99.2%	0.00%	−0.35
XLI SS Industrial Select Sector	Reduce -97.9%	0.01%	−0.33
SW Smurfit Westrock PLC	Reduce -29.7%	0.44%	−0.32
BAC Bank of America Corp.	Reduce -3.3%	2.65%	−0.26
CSCO Cisco Systems Inc.	Reduce -9.2%	2.98%	−0.19
TFC Truist Financial Corp.	Reduce -2.4%	2.13%	−0.19
FEZ State Street SPDR Euro Stoxx	Reduce -98.8%	0.00%	−0.19
JCI Johnson Controls Internation	Reduce -7.1%	2.62%	−0.18
MSFT Microsoft Corp.	Reduce -4.4%	0.97%	−0.18
XLB SS Materials Select Sector	Reduce -95.5%	0.01%	−0.16
LOW Lowe's Cos Inc.	Reduce -2.6%	1.47%	−0.14
C Citigroup Inc.	Reduce -5.7%	2.29%	−0.14
XLY SS Consumer Disc Select Sect	Reduce -95.0%	0.01%	−0.13
KSPI JSC Kaspi.kz ADR	Reduce -58.5%	0.08%	−0.12
XLP SS Consumer Staples Sel Sect	Reduce -96.4%	0.00%	−0.12
CB Chubb Ltd.	Reduce -11.6%	2.44%	−0.11
EWT iShares MSCI Taiwan ETF	Reduce -56.6%	0.07%	−0.11
PFE Pfizer Inc.	Reduce -1.1%	1.38%	−0.09
EWM iShares MSCI Malaysia ETF	Reduce -59.4%	0.06%	−0.09
DXJ Wisdomtree Japan Hedged Eq	Reduce -96.6%	0.00%	−0.08
BHP BHP Group Ltd.-Spon ADR	Sold out	0.00%	−0.08
XLK SS Technology Select Sector	Reduce -93.5%	0.00%	−0.07
TCOM Trip.com Group Ltd.-ADR	Reduce -40.4%	0.08%	−0.06
EPI Wisdomtree India Earnings	Reduce -37.0%	0.09%	−0.06
NEE Nextera Energy Inc.	Reduce -0.7%	2.07%	−0.06
XLRE SS Real Estate Select Sector	Sold out	0.00%	−0.06
SPY SS SPDR S&P 500 ETF Trust-US	Sold out	0.00%	−0.05
CGW Invesco S&P Global Water Ind	Sold out	0.00%	−0.04
DVY iShares Select Dividend ETF	Reduce -94.1%	0.00%	−0.04
XLE SS Energy Select Sector	Reduce -93.3%	0.00%	−0.04
KB KB Financial Group Inc.-ADR	Reduce -26.9%	0.06%	−0.03
IOO iShares Global 100 ETF	Sold out	0.00%	−0.03
HDEF Xtrackers MSCI Eafe High Div	Sold out	0.00%	−0.02
VWO Vanguard Ftse Emerging Marke	Reduce -65.6%	0.01%	−0.02
INDA iShares MSCI India ETF	Reduce -30.9%	0.03%	−0.02
XLU St Sr Utl SL SE SPDR ETF-Usd	Sold out	0.00%	−0.02
ET Energy Transfer LP	Reduce -18.7%	0.05%	−0.01
REET iShares Global REIT ETF	Sold out	0.00%	−0.01
DEM Wisdomtree Emerging Markets	Sold out	0.00%	−0.01
ETN Eaton Corp. PLC	Reduce -5.5%	0.04%	−0.01

Portfolio Buys Q4 2024 → Q1 2025


OMC Omnicom Group	New	0.97%	+0.97
KDP Keurig Dr Pepper Inc.	New	0.71%	+0.71
BCE Bce Inc.	Add +74.6%	1.63%	+0.68
MDT Medtronic PLC	Add +6.4%	2.82%	+0.44
UPS United Parcel Service Class B	Add +60.0%	1.54%	+0.43
MDLZ Mondelez International Inc. Class A	Add +910.8%	0.47%	+0.43
ENB Enbridge Inc.	Add +10417.2%	0.42%	+0.42
MO Altria Group Inc.	Add +8.4%	2.00%	+0.38
JNJ Johnson & Johnson	Add +4.7%	2.37%	+0.38
PNC PNC Financial Services Group	Add +1014.9%	0.40%	+0.36
VICI Vici Properties Inc.	Add +1.9%	2.43%	+0.28
DOC Healthpeak Properties Inc.	Add +14.4%	2.36%	+0.28
CCI Crown Castle Inc.	Add +0.6%	1.33%	+0.17
PBR Petroleo Brasileiro-Spon ADR	Add +50.1%	0.42%	+0.17
GPC Genuine Parts Co.	Add +8.1%	1.86%	+0.16
VZ Verizon Communications Inc.	Add +6.1%	0.79%	+0.13
BAX Baxter International Inc.	Add +7.9%	0.59%	+0.12
CMCSA Comcast Corp. Class A	Add +8.2%	2.28%	+0.12
KOF Coca-Cola Femsa Sab-SP ADR	Add +9.2%	0.55%	+0.12
SNY Sanofi-ADR	Add +53.6%	0.26%	+0.11
BABA Alibaba Group Holding-SP ADR	New	0.10%	+0.10
GD General Dynamics Corp.	Add +1.4%	2.37%	+0.09
QCOM Qualcomm Inc.	Add +11.9%	0.88%	+0.09
DOW Dow Inc.	Add +21.4%	1.83%	+0.08
BTI British American Tob-SP ADR	Add +1.6%	0.57%	+0.07
RIO Rio Tinto PLC-Spon ADR	Add +10.1%	0.64%	+0.07
SHEL Shell PLC-ADR	Add +3.6%	0.39%	+0.07
EWY iShares MSCI South Korea ETF	Add +385.1%	0.06%	+0.05
EOG EOG Resources Inc.	Add +1.7%	0.82%	+0.04
MRK Merck & Co. Inc.	Add +13.8%	2.32%	+0.04
CPA Copa Holdings SA Class A	Add +65.6%	0.09%	+0.04
TM Toyota Motor Corp. -Spon ADR	Add +21.1%	0.32%	+0.03
BIL SS SPDR BB 1-3M T-Bill ETF	New	0.02%	+0.02
IBN Icici Bank Ltd.-Spon ADR	Add +0.2%	0.50%	+0.02
WSBC Wesbanco Inc.	New	0.01%	+0.01
AWK American Water Works Co. Inc.	Add +51.4%	0.01%	+0.01
WTRG Essential Utilities Inc.	Add +54.6%	0.01%	+0.00
GRTUF Granite Real Estate Investme	New	0.00%	+0.00
CWT California Water Service Grp	Add +148.1%	0.01%	+0.00
SJM The JM Smucker Co.	Add +14.3%	0.02%	+0.00
WPC WP Carey Inc.	New	0.00%	+0.00
YORW York Water Co.	New	0.00%	+0.00
STN Stantec Inc.	New	0.00%	+0.00
PLD Prologis Inc.	New	0.00%	+0.00
TREE Lendingtree Inc.	Add +1.3%	0.02%	+0.00
HTO H2O America	New	0.00%	+0.00
AWR American States Water Co.	Add +56.0%	0.01%	+0.00
DD Dupont DE Nemours Inc.	Add +25.9%	0.02%	+0.00
PCH Potlatchdeltic Corp.	New	0.00%	+0.00
ARTNA Artesian Resources Corp. Class A	New	0.00%	+0.00

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	208	$10.2B	NVS, CSCO, MS, JNJ, C
Q1 2026	213	$9.8B	NVS, CSCO, JNJ, XOM, BAC
Q4 2025	225	$9.2B	CSCO, NVS, BAC, JPM, C
Q3 2025	217	$9.1B	JPM, BAC, CSCO, NVS, MDT
Q2 2025	198	$8.8B	JPM, CSCO, BAC, NVS, DUK
Q1 2025	205	$8.7B	JPM, RTX, DUK, CSCO, MDT
Q4 2024	208	$8.6B	JPM, CSCO, BAC, PM, JCI
Q3 2024	206	$9.2B	JPM, PM, NVS, RTX, MS
Q2 2024	209	$8.7B	JPM, NVS, MS, BAC, XOM
Q1 2024	197	$9.0B	JPM, NVS, MS, XOM, BAC