Cullinan Associates Inc.
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 18, 2024), Cullinan Associates Inc. reported 241 stock positions worth $1.8 billion. Its top holding was Apple (AAPL) at 7.3% of the portfolio, followed by Walmart (WMT, 5.4%) and Microsoft (MSFT, 4.6%). Compared with Q4 2023, it opened 20 new positions, sold out of 14, added to 65 and reduced 96. The biggest buy was Prudential Financial (PRU, shares +2355%) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −66%).
- Most Recent 13F
- Q2 2026
- Location
- LOUISVILLE, KY
- CIK
- 0001161670
- Portfolio Value
- $1.8B (Q1 2024)
- SEC Filing
- 0001161670-24-000002 ↗ filed Apr 18, 2024
Holdings Value
Holdings 241 stocks · $1.8B
| AAPL Apple Inc. | 7.32% | 760,875 | $130.5M | Add +1.4% |
| WMT Walmart Inc. | 5.40% | 1,600,767 | $96.3M | Reduce -39.7% |
| MSFT Microsoft Corp. | 4.56% | 193,110 | $81.2M | Reduce -31.1% |
| COIN Coinbase Global Inc. Class A | 4.49% | 302,200 | $80.1M | Reduce -0.3% |
| KO The Coca-Cola Co. | 4.15% | 1,209,686 | $74.0M | Reduce -1.3% |
| SPGI S&P Global Inc. | 3.05% | 127,900 | $54.4M | Reduce -1.7% |
| AMGN Amgen Inc. | 2.78% | 174,620 | $49.6M | Add +12.0% |
| PG The Procter & Gamble Co. | 2.77% | 304,047 | $49.3M | Reduce -0.2% |
| JNJ Johnson & Johnson | 2.12% | 238,791 | $37.8M | Add +16.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.93% | 65,784 | $34.4M | Reduce -66.4% |
| XOM Exxon Mobil Corp. | 1.91% | 293,425 | $34.1M | Add +33.9% |
| AMZN Amazon.com Inc. | 1.67% | 165,352 | $29.8M | Add +17.6% |
| CVX Chevron Corp. | 1.66% | 188,197 | $29.7M | Add +0.8% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.63% | 152,051 | $29.0M | Add +7.3% |
| LOW Lowe's Cos Inc. | 1.48% | 103,802 | $26.4M | Add +7.2% |
| EA Electronic Arts Inc. | 1.44% | 193,823 | $25.7M | Add +5.2% |
| MCD McDonald's Corp. | 1.42% | 89,522 | $25.2M | Add +2.6% |
| VRTX Vertex Pharmaceuticals Inc. | 1.32% | 56,276 | $23.5M | Reduce -3.4% |
| ORCL Oracle Corp. | 1.30% | 184,893 | $23.2M | Add +105.9% |
| ABBV Abbvie Inc. | 1.30% | 127,116 | $23.1M | Reduce -2.5% |
| NVDA Nvidia Corp. | 1.14% | 22,497 | $20.3M | Add +17.1% |
| AMAT Applied Materials Inc. | 1.10% | 94,778 | $19.5M | Reduce -10.7% |
| TXN Texas Instruments Inc. | 1.08% | 110,468 | $19.2M | Add +28.0% |
| GOOG Alphabet Inc. Class C | 1.06% | 124,621 | $19.0M | Add +8.4% |
| CSCO Cisco Systems Inc. | 1.01% | 360,001 | $18.0M | Add +18.3% |
| V Visa Inc. Class A | 1.01% | 64,365 | $18.0M | Add +129.5% |
| JPM JPMorgan Chase & Co. | 1.00% | 88,915 | $17.8M | Reduce -44.7% |
| PRU Prudential Financial Inc. | 1.00% | 151,598 | $17.8M | Add +2355.0% |
| AFL Aflac Inc. | 0.99% | 206,586 | $17.7M | Reduce -14.3% |
| QLYS Qualys Inc. | 0.97% | 103,755 | $17.3M | Add +78.6% |
| AXP American Express Co. | 0.86% | 67,649 | $15.4M | Reduce -38.5% |
| CAT Caterpillar Inc. | 0.86% | 41,983 | $15.4M | Add +14.0% |
| GOOGL Alphabet Inc. Class A | 0.84% | 99,711 | $15.0M | Reduce -15.8% |
| SO The Southern Co. | 0.78% | 194,754 | $14.0M | Add +37.8% |
| COST Costco Wholesale Corp. | 0.78% | 18,882 | $13.8M | Reduce -13.6% |
| SBUX Starbucks Corp. | 0.78% | 151,313 | $13.8M | Add +19.7% |
| LMT Lockheed Martin Corp. | 0.71% | 27,811 | $12.7M | Add +2.0% |
| EMR Emerson Electric Co. | 0.69% | 108,823 | $12.3M | Add +64.1% |
| PLD Prologis Inc. | 0.67% | 91,951 | $12.0M | Add +197.2% |
| WST West Pharmaceutical Services | 0.67% | 30,000 | $11.9M | Reduce -11.8% |
| ADBE Adobe Inc. | 0.66% | 23,165 | $11.7M | Reduce -24.0% |
| ITW Illinois Tool Works | 0.64% | 42,504 | $11.4M | Add +33.0% |
| DE Deere & Co. | 0.63% | 27,198 | $11.2M | Add +48.1% |
| GS Goldman Sachs Group Inc. | 0.62% | 26,674 | $11.1M | Add +738.0% |
| HD Home Depot Inc. | 0.58% | 27,165 | $10.4M | Add +2.0% |
| GILD Gilead Sciences Inc. | 0.57% | 139,288 | $10.2M | Add +17.3% |
| CVS CVS Health Corp. | 0.53% | 119,497 | $9.5M | Add +10.6% |
| LRCX Lam Research Corp. | 0.53% | 9,700 | $9.4M | No change |
| COF Capital One Financial Corp. | 0.52% | 61,684 | $9.2M | No change |
| KLAC KLA Corp. | 0.51% | 13,081 | $9.1M | Add +249.8% |
| META Meta Platforms Inc. Class A | 0.50% | 18,316 | $8.9M | Add +26.8% |
| UPS United Parcel Service Class B | 0.49% | 58,728 | $8.7M | Add +7.5% |
| ABNB Airbnb Inc. Class A | 0.48% | 51,772 | $8.5M | Add +0.4% |
| NYT New York Times Co. Class A | 0.47% | 195,593 | $8.5M | Add +10.3% |
| UNH Unitedhealth Group Inc. | 0.46% | 16,654 | $8.2M | Reduce -16.7% |
| PAYX Paychex Inc. | 0.46% | 67,000 | $8.2M | Reduce -17.1% |
| TRV The Travelers Cos Inc. | 0.44% | 34,164 | $7.9M | Add +159.8% |
| PFE Pfizer Inc. | 0.43% | 278,202 | $7.7M | Add +42.8% |
| UBER Uber Technologies Inc. | 0.43% | 99,196 | $7.6M | Add +4.8% |
| Berkshire Hathaway Cl B | 0.38% | 16,037 | $6.7M | Reduce -9.2% |
| YUM Yum! Brands Inc. | 0.38% | 48,362 | $6.7M | Add +1.6% |
| BMY Bristol-Myers Squibb Co. | 0.33% | 109,338 | $5.9M | Reduce -4.3% |
| MDT Medtronic PLC | 0.33% | 67,808 | $5.9M | Reduce -13.3% |
| TFC Truist Financial Corp. | 0.33% | 150,548 | $5.9M | Reduce -2.3% |
| CL Colgate-Palmolive Co. | 0.33% | 64,409 | $5.8M | Reduce -2.7% |
| ABT Abbott Laboratories | 0.32% | 50,494 | $5.7M | Reduce -35.3% |
| CMCSA Comcast Corp. Class A | 0.31% | 127,886 | $5.5M | Reduce -1.9% |
| MA Mastercard Inc. Class A | 0.31% | 11,500 | $5.5M | Reduce -6.9% |
| DT Dynatrace Inc. | 0.31% | 118,036 | $5.5M | No change |
| MRK Merck & Co. Inc. | 0.30% | 40,248 | $5.3M | Reduce -31.8% |
| CRM Salesforce Inc. | 0.29% | 17,447 | $5.3M | Reduce -43.2% |
| ACN Accenture PLC Class A | 0.29% | 15,082 | $5.2M | Reduce -46.7% |
| PEP Pepsico Inc. | 0.29% | 29,588 | $5.2M | Add +1.6% |
| LLY Eli Lilly & Co. | 0.29% | 6,628 | $5.2M | Add +4.9% |
| UNP Union Pacific Corp. | 0.29% | 20,897 | $5.1M | Reduce -5.5% |
| HPQ HP Inc. | 0.29% | 169,271 | $5.1M | Reduce -2.7% |
| WSM Williams-Sonoma Inc. | 0.28% | 16,000 | $5.1M | No change |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.28% | 49,275 | $5.0M | Reduce -62.9% |
| AMT American Tower Corp. | 0.28% | 25,196 | $5.0M | Reduce -9.0% |
| CMI Cummins Inc. | 0.28% | 16,648 | $4.9M | Reduce -46.6% |
| INTU Intuit Inc. | 0.26% | 7,110 | $4.6M | Reduce -21.0% |
| CCI Crown Castle Intl Corp. Com | 0.26% | 43,413 | $4.6M | Reduce -0.1% |
| ADI Analog Devices Inc. | 0.24% | 22,025 | $4.4M | Reduce -33.5% |
| PM Philip Morris International | 0.24% | 46,736 | $4.3M | Reduce -8.8% |
| IP International Paper Co. | 0.24% | 108,965 | $4.3M | Add +18.7% |
| TSLA Tesla Inc. | 0.23% | 23,831 | $4.2M | Add +1.0% |
| FAST Fastenal Co. | 0.23% | 53,975 | $4.2M | Reduce -56.3% |
| VOO Vanguard S&P 500 ETF | 0.23% | 8,641 | $4.2M | Reduce -22.9% |
| RTX RTX Corp. | 0.21% | 39,133 | $3.8M | Add +2.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.21% | 30,651 | $3.8M | Reduce -7.0% |
| NSC Norfolk Southern Corp. | 0.21% | 14,463 | $3.7M | Reduce -15.7% |
| MNST Monster Beverage Corp. | 0.20% | 60,700 | $3.6M | Reduce -34.5% |
| NOC Northrop Grumman Corp. | 0.20% | 7,507 | $3.6M | Add +115.5% |
| TEAM Atlassian Corp. Class A | 0.20% | 18,117 | $3.5M | No change |
| BX Blackstone Inc. | 0.19% | 26,442 | $3.5M | Add +10.0% |
| INTC Intel Corp. | 0.19% | 77,989 | $3.4M | Reduce -4.5% |
| MS Morgan Stanley | 0.19% | 35,220 | $3.3M | Reduce -68.5% |
| MDLZ Mondelez International Inc. Class A | 0.18% | 45,151 | $3.2M | Add +17.6% |
| NKE Nike Inc. Class B | 0.18% | 33,597 | $3.2M | Reduce -5.3% |
| CHRW C.H. Robinson Worldwide Inc. | 0.17% | 40,300 | $3.1M | Add +78.3% |
Portfolio Sells Q4 2023 → Q1 2024
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -66.4% | 1.93% | −3.26 |
| WMT Walmart Inc. | Reduce -39.7% | 5.40% | −2.38 |
| MSFT Microsoft Corp. | Reduce -31.1% | 4.56% | −1.32 |
| JPM JPMorgan Chase & Co. | Reduce -44.7% | 1.00% | −0.53 |
| MET Metlife Inc. | Reduce -79.2% | 0.15% | −0.49 |
| TJX TJX Companies Inc. | Reduce -62.9% | 0.28% | −0.41 |
| MS Morgan Stanley | Reduce -68.5% | 0.19% | −0.39 |
| CTVA Corteva Inc. | Reduce -84.2% | 0.09% | −0.39 |
| ADBE Adobe Inc. | Reduce -24.0% | 0.66% | −0.36 |
| AXP American Express Co. | Reduce -38.5% | 0.86% | −0.29 |
| FISV Fiserv Inc. | Reduce -91.0% | 0.03% | −0.27 |
| ACN Accenture PLC Class A | Reduce -46.7% | 0.29% | −0.26 |
| FAST Fastenal Co. | Reduce -56.3% | 0.23% | −0.21 |
| SYK Stryker Corp. | Reduce -64.4% | 0.14% | −0.19 |
| LIN Linde PLC | Reduce -86.8% | 0.03% | −0.16 |
| ABT Abbott Laboratories | Reduce -35.3% | 0.32% | −0.16 |
| CRM Salesforce Inc. | Reduce -43.2% | 0.29% | −0.16 |
| SPGI S&P Global Inc. | Reduce -1.7% | 3.05% | −0.14 |
| CMI Cummins Inc. | Reduce -46.6% | 0.28% | −0.14 |
| QCOM Qualcomm Inc. | Reduce -56.1% | 0.15% | −0.14 |
| UNH Unitedhealth Group Inc. | Reduce -16.7% | 0.46% | −0.12 |
| ADI Analog Devices Inc. | Reduce -33.5% | 0.24% | −0.12 |
| VMC Vulcan Materials Co. | Reduce -86.5% | 0.02% | −0.12 |
| AFL Aflac Inc. | Reduce -14.3% | 0.99% | −0.11 |
| MNST Monster Beverage Corp. | Reduce -34.5% | 0.20% | −0.10 |
| GOOGL Alphabet Inc. Class A | Reduce -15.8% | 0.84% | −0.08 |
| NEE Nextera Energy Inc. | Reduce -41.1% | 0.13% | −0.08 |
| LULU Lululemon Athletica Inc. | Reduce -24.1% | 0.11% | −0.07 |
| PAYX Paychex Inc. | Reduce -17.1% | 0.46% | −0.07 |
| MRK Merck & Co. Inc. | Reduce -31.8% | 0.30% | −0.06 |
| INTU Intuit Inc. | Reduce -21.0% | 0.26% | −0.05 |
| AMT American Tower Corp. | Reduce -9.0% | 0.28% | −0.05 |
| GIS General Mills Inc. | Sold out | 0.00% | −0.05 |
| ADP Automatic Data Processing | Reduce -30.6% | 0.15% | −0.05 |
| CBOE Cboe Global Markets Inc. | Sold out | 0.00% | −0.05 |
| DUK Duke Energy Corp. | Reduce -33.7% | 0.09% | −0.05 |
| GLW Corning Inc. | Reduce -27.3% | 0.15% | −0.04 |
| VOO Vanguard S&P 500 ETF | Reduce -22.9% | 0.23% | −0.04 |
| NKE Nike Inc. Class B | Reduce -5.3% | 0.18% | −0.04 |
| INTC Intel Corp. | Reduce -4.5% | 0.19% | −0.04 |
| DD Dupont DE Nemours Inc. | Reduce -64.0% | 0.02% | −0.03 |
| SPG Simon Property Group Inc. | Reduce -71.2% | 0.01% | −0.03 |
| CARG Cargurus Inc. | Reduce -36.5% | 0.05% | −0.03 |
| ETN Eaton Corp. PLC | Reduce -46.1% | 0.07% | −0.03 |
| PM Philip Morris International | Reduce -8.8% | 0.24% | −0.03 |
| COST Costco Wholesale Corp. | Reduce -13.6% | 0.78% | −0.03 |
| MDT Medtronic PLC | Reduce -13.3% | 0.33% | −0.03 |
| CLX Clorox Company | Sold out | 0.00% | −0.03 |
| DIA SS SPDR Dow Jones Indus Avg | Sold out | 0.00% | −0.02 |
| CCI Crown Castle Intl Corp. Com | Reduce -0.1% | 0.26% | −0.02 |
Portfolio Buys Q4 2023 → Q1 2024
| PRU Prudential Financial Inc. | Add +2355.0% | 1.00% | +0.96 |
| ORCL Oracle Corp. | Add +105.9% | 1.30% | +0.77 |
| XOM Exxon Mobil Corp. | Add +33.9% | 1.91% | +0.69 |
| NVDA Nvidia Corp. | Add +17.1% | 1.14% | +0.61 |
| V Visa Inc. Class A | Add +129.5% | 1.01% | +0.60 |
| GS Goldman Sachs Group Inc. | Add +738.0% | 0.62% | +0.56 |
| AMZN Amazon.com Inc. | Add +17.6% | 1.67% | +0.48 |
| PLD Prologis Inc. | Add +197.2% | 0.67% | +0.44 |
| KLAC KLA Corp. | Add +249.8% | 0.51% | +0.39 |
| IBM Intl Business Machines Corp. | Add +7.3% | 1.63% | +0.34 |
| QLYS Qualys Inc. | Add +78.6% | 0.97% | +0.34 |
| EMR Emerson Electric Co. | Add +64.1% | 0.69% | +0.33 |
| JNJ Johnson & Johnson | Add +16.0% | 2.12% | +0.32 |
| TRV The Travelers Cos Inc. | Add +159.8% | 0.44% | +0.30 |
| LOW Lowe's Cos Inc. | Add +7.2% | 1.48% | +0.28 |
| AMGN Amgen Inc. | Add +12.0% | 2.78% | +0.28 |
| TXN Texas Instruments Inc. | Add +28.0% | 1.08% | +0.26 |
| CAT Caterpillar Inc. | Add +14.0% | 0.86% | +0.26 |
| SO The Southern Co. | Add +37.8% | 0.78% | +0.23 |
| DE Deere & Co. | Add +48.1% | 0.63% | +0.22 |
| META Meta Platforms Inc. Class A | Add +26.8% | 0.50% | +0.21 |
| ITW Illinois Tool Works | Add +33.0% | 0.64% | +0.17 |
| GOOG Alphabet Inc. Class C | Add +8.4% | 1.06% | +0.16 |
| CSCO Cisco Systems Inc. | Add +18.3% | 1.01% | +0.15 |
| AESI Atlas Energy Solutions Inc. | New | 0.13% | +0.13 |
| PFE Pfizer Inc. | Add +42.8% | 0.43% | +0.12 |
| ISRG Intuitive Surgical Inc. | Add +300.0% | 0.14% | +0.11 |
| CVX Chevron Corp. | Add +0.8% | 1.66% | +0.11 |
| NOC Northrop Grumman Corp. | Add +115.5% | 0.20% | +0.11 |
| UBER Uber Technologies Inc. | Add +4.8% | 0.43% | +0.10 |
| SBUX Starbucks Corp. | Add +19.7% | 0.78% | +0.10 |
| ABNB Airbnb Inc. Class A | Add +0.4% | 0.48% | +0.09 |
| LLY Eli Lilly & Co. | Add +4.9% | 0.29% | +0.08 |
| EVRG Evergy Inc. | New | 0.08% | +0.08 |
| ECL Ecolab Inc. | New | 0.07% | +0.07 |
| HD Home Depot Inc. | Add +2.0% | 0.58% | +0.07 |
| BRO Brown & Brown Inc. | New | 0.06% | +0.06 |
| CHRW C.H. Robinson Worldwide Inc. | Add +78.3% | 0.17% | +0.06 |
| NUE Nucor Corp. | Add +430.6% | 0.07% | +0.06 |
| CVS CVS Health Corp. | Add +10.6% | 0.53% | +0.06 |
| A Agilent Technologies Inc. | New | 0.06% | +0.06 |
| IP International Paper Co. | Add +18.7% | 0.24% | +0.05 |
| GTY Getty Realty Corp. | New | 0.05% | +0.05 |
| GD General Dynamics Corp. | New | 0.04% | +0.04 |
| EA Electronic Arts Inc. | Add +5.2% | 1.44% | +0.04 |
| GILD Gilead Sciences Inc. | Add +17.3% | 0.57% | +0.04 |
| PSX Phillips 66 | Add +31.0% | 0.09% | +0.04 |
| RTX RTX Corp. | Add +2.4% | 0.21% | +0.03 |
| HII Huntington Ingalls Industrie | New | 0.03% | +0.03 |
| BIDU Baidu Inc. - Spon ADR | New | 0.03% | +0.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 204 | $1.3B | AAPL, KO, MSFT, SPGI, JNJ |
| Q1 2026 | 207 | $1.2B | AAPL, KO, MSFT, SPGI, JNJ |
| Q4 2025 | 211 | $1.5B | AAPL, KO, MSFT, SPGI, WMT |
| Q3 2025 | 213 | $1.5B | AAPL, MSFT, KO, COIN, SPGI |
| Q2 2025 | 210 | $1.5B | COIN, KO, AAPL, MSFT, SPGI |
| Q1 2025 | 216 | $1.4B | AAPL, KO, MSFT, SPGI, COIN |
| Q4 2024 | 217 | $1.6B | AAPL, KO, COIN, MSFT, WMT |
| Q3 2024 | 232 | $1.8B | AAPL, WMT, KO, MSFT, SPGI |
| Q2 2024 | 231 | $1.8B | AAPL, WMT, MSFT, KO, COIN |
| Q1 2024 | 241 | $1.8B | AAPL, WMT, MSFT, COIN, KO |