Cullinan Associates
LOUISVILLE, KYfiles as CULLINAN ASSOCIATES INC
$1.3bn in 204 US stocks at the end of 30 June 2026. The top 10 are 39.7% of the money. It changed about 11.0% of the portfolio this quarter.
Value
$1.3bn
Stocks
204
Top 10 share
39.7%
Turnover
11.0%
What changed this quarter
New
Bought for the first time this quarter.
- ExxonMobil HoldingsXOM2.2% of the fund
- Arthur J. GallagherAJG0.3% of the fund
- Honeywell AerospaceHONA<0.1% of the fund
- Micron TechnologyMU<0.1% of the fund
- Ishares TRIVW<0.1% of the fund
- Kinder MorganKMI<0.1% of the fund
- Ishares TRIWR<0.1% of the fund
Added
Bought more of a stock they already held.
- AlphabetGOOG3.2% of the fund+23%
- Amazon.comAMZN2.3% of the fund+7%
- JPMorgan ChaseJPM1.8% of the fund+14%
- NvidiaNVDA1.4% of the fund+53%
- Meta PlatformsMETA0.9% of the fund+3%
- VisaV0.8% of the fund+15%
- EcolabECL0.6% of the fund+30%
- Berkshire Hathaway Cl B0.6% of the fund+19%
- Duke EnergyDUK0.4% of the fund+20%
- TeslaTSLA0.1% of the fund+23%
- PfizerPFE<0.1% of the fund+11%
- Boston ScientificBSX<0.1% of the fund+2%
- Vanguard Scottsdale FDSVTWG<0.1% of the fund+18%
- Vanguard Index FDSVUG<0.1% of the fund+19%
- Vanguard Scottsdale FDSVONG<0.1% of the fund+20%
- BlackRockBLK<0.1% of the fund+3%
- AccentureACN<0.1% of the fund+25%
- ChubbCB<0.1% of the fund+6%
- Vanguard Russell 2000VTWV<0.1% of the fund+17%
- Motorola SolutionsMSI<0.1% of the fund+26%
- LindeLIN<0.1% of the fund+8%
Cut
Sold some of their stake.
- AppleAAPL8.4% of the fund-5%
- Coca-ColaKO7.0% of the fund-14%
- MicrosoftMSFT3.9% of the fund-11%
- Johnson & JohnsonJNJ3.4% of the fund-3%
- Applied MaterialsAMAT2.5% of the fund-10%
- AlphabetGOOGL2.3% of the fund-19%
- International Business MachinesIBM1.9% of the fund-7%
- Texas InstrumentsTXN1.4% of the fund-7%
- KLAKLAC1.4% of the fund-17%
- AbbVieABBV1.3% of the fund-6%
- CaterpillarCAT1.2% of the fund-10%
- McDonald'sMCD1.0% of the fund-14%
- American ExpressAXP1.0% of the fund-4%
- Lowe's CompaniesLOW1.0% of the fund-7%
- DeereDE0.9% of the fund-6%
- ChevronCVX0.9% of the fund-11%
- OracleORCL0.9% of the fund-6%
- Cisco SystemsCSCO0.9% of the fund-3%
- QualcommQCOM0.7% of the fund-7%
- Costco WholesaleCOST0.7% of the fund-2%
- AmgenAMGN0.7% of the fund-5%
- Lockheed MartinLMT0.6% of the fund-8%
- Travelers CompaniesTRV0.6% of the fund-6%
- Bank of AmericaBAC0.6% of the fund-8%
- Walt DisneyDIS0.6% of the fund-7%
Sold out
Sold their entire stake.
- ExxonMobil HoldingsXOM-100%
- DynatraceDT-100%
- First SolarFSLR-100%
- SyscoSYY-100%
- Williams SonomaWSM-100%
- ZoetisZTS-100%
- AT&TT-100%
- Palantir TechnologiesPLTR-100%
- Agnico Eagle MinesAEM-100%
- DOWDOW-100%
Holdings
- State STR Spdr S&P 500 ETF TSPY
- Share
- 2.9%
- Value
- $39m
- Shares
- 51,583
Held
- Berkshire Hathaway Cl B
- Share
- 0.6%
- Value
- $8m
- Shares
- 15,940
+19%
- Vanguard Index FDSVOO
- Share
- 0.3%
- Value
- $4m
- Shares
- 6,500
Held
- Ishares TRIWF
- Share
- 0.3%
- Value
- $3m
- Shares
- 27,460
Held
- Electronic ArtsEA
- Share
- 0.2%
- Value
- $2m
- Shares
- 9,764
-4%
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| AppleAAPL | 8.4% | $111m | 382,145 | -5% |
| Coca-ColaKO | 7.0% | $92m | 1,132,980 | -14% |
| MicrosoftMSFT | 3.9% | $52m | 139,649 | -11% |
| S&P GlobalSPGI | 3.7% | $49m | 121,500 | Held |
| Johnson & JohnsonJNJ | 3.4% | $45m | 177,028 | -3% |
| AlphabetGOOG | 3.2% | $42m | 118,397 | +23% |
| State STR Spdr S&P 500 ETF TSPY | 2.9% | $39m | 51,583 | Held |
| Applied MaterialsAMAT | 2.5% | $34m | 46,437 | -10% |
| Procter & GamblePG | 2.5% | $33m | 222,191 | Held |
| Amazon.comAMZN | 2.3% | $30m | 126,253 | +7% |
| AlphabetGOOGL | 2.3% | $30m | 84,174 | -19% |
| ExxonMobil HoldingsXOM | 2.2% | $29m | 210,525 | New |
| Lam ResearchLRCX | 2.1% | $28m | 64,500 | Held |
| Vertex PharmaceuticalsVRTX | 1.9% | $26m | 51,762 | Held |
| International Business MachinesIBM | 1.9% | $25m | 90,150 | -7% |
| JPMorgan ChaseJPM | 1.8% | $24m | 73,638 | +14% |
| Texas InstrumentsTXN | 1.4% | $19m | 62,683 | -7% |
| NvidiaNVDA | 1.4% | $18m | 90,984 | +53% |
| KLAKLAC | 1.4% | $18m | 59,643 | -17% |
| AbbVieABBV | 1.3% | $17m | 68,800 | -6% |
| WalmartWMT | 1.2% | $16m | 143,088 | Held |
| AflacAFL | 1.2% | $16m | 138,006 | Held |
| CaterpillarCAT | 1.2% | $16m | 15,128 | -10% |
| QualysQLYS | 1.1% | $14m | 102,800 | Held |
| McDonald'sMCD | 1.0% | $13m | 48,623 | -14% |
| American ExpressAXP | 1.0% | $13m | 38,796 | -4% |
| Lowe's CompaniesLOW | 1.0% | $13m | 57,334 | -7% |
| DeereDE | 0.9% | $12m | 19,576 | -6% |
| ChevronCVX | 0.9% | $12m | 71,525 | -11% |
| OracleORCL | 0.9% | $12m | 80,480 | -6% |
| Meta PlatformsMETA | 0.9% | $12m | 20,521 | +3% |
| Cisco SystemsCSCO | 0.9% | $11m | 97,679 | -3% |
| VisaV | 0.8% | $11m | 31,575 | +15% |
| Southern CompanySO | 0.7% | $10m | 102,972 | Held |
| Home DepotHD | 0.7% | $10m | 27,706 | Held |
| QualcommQCOM | 0.7% | $9m | 49,744 | -7% |
| Costco WholesaleCOST | 0.7% | $9m | 9,805 | -2% |
| Uber TechnologiesUBER | 0.7% | $9m | 126,824 | Held |
| AmgenAMGN | 0.7% | $9m | 24,288 | -5% |
| Lockheed MartinLMT | 0.6% | $8m | 16,616 | -8% |
| Eli LillyLLY | 0.6% | $8m | 6,866 | Held |
| EcolabECL | 0.6% | $8m | 28,979 | +30% |
| Berkshire Hathaway Cl B | 0.6% | $8m | 15,940 | +19% |
| TJX CompaniesTJX | 0.6% | $8m | 51,825 | Held |
| Travelers CompaniesTRV | 0.6% | $8m | 23,657 | -6% |
| Bank of AmericaBAC | 0.6% | $8m | 134,769 | -8% |
| Walt DisneyDIS | 0.6% | $7m | 77,267 | -7% |
| IntelINTC | 0.6% | $7m | 52,789 | -8% |
| New York TimesNYT | 0.5% | $7m | 103,367 | Held |
| Emerson ElectricEMR | 0.5% | $7m | 48,750 | -6% |
| Goldman Sachs GroupGS | 0.5% | $7m | 6,491 | -17% |
| AirbnbABNB | 0.5% | $6m | 43,820 | -18% |
| CME GroupCME | 0.5% | $6m | 27,897 | -9% |
| Norfolk SouthernNSC | 0.5% | $6m | 19,400 | Held |
| MerckMRK | 0.5% | $6m | 46,620 | -3% |
| Wells Fargo & CompanyWFC | 0.4% | $6m | 70,375 | -4% |
| FastenalFAST | 0.4% | $6m | 117,702 | -4% |
| Philip Morris InternationalPM | 0.4% | $5m | 29,355 | Held |
| ASML Holding NVASML | 0.4% | $5m | 2,600 | Held |
| Prudential FinancialPRU | 0.4% | $5m | 44,904 | Held |
| United Parcel ServiceUPS | 0.4% | $5m | 44,927 | -52% |
| CVS HealthCVS | 0.4% | $5m | 46,424 | -9% |
| Duke EnergyDUK | 0.4% | $5m | 36,953 | +20% |
| BroadcomAVGO | 0.3% | $5m | 11,976 | Held |
| Vanguard Index FDSVOO | 0.3% | $4m | 6,500 | Held |
| Colgate-PalmoliveCL | 0.3% | $4m | 48,289 | Held |
| PepsiCoPEP | 0.3% | $4m | 32,121 | Held |
| Atlas Energy SolutionsAESI | 0.3% | $4m | 252,000 | Held |
| HPHPQ | 0.3% | $4m | 189,327 | Held |
| Union PacificUNP | 0.3% | $4m | 15,260 | Held |
| Arthur J. GallagherAJG | 0.3% | $4m | 17,500 | New |
| MastercardMA | 0.3% | $4m | 7,600 | Held |
| YUM BrandsYUM | 0.3% | $4m | 23,306 | -5% |
| PayPal HoldingsPYPL | 0.3% | $4m | 82,073 | -26% |
| Ishares TRIWF | 0.3% | $3m | 27,460 | Held |
| MedtronicMDT | 0.3% | $3m | 43,157 | Held |
| PrologisPLD | 0.2% | $3m | 23,303 | -5% |
| RTXRTX | 0.2% | $3m | 15,558 | Held |
| Morgan StanleyMS | 0.2% | $3m | 13,585 | -11% |
| OktaOKTA | 0.2% | $3m | 20,800 | -27% |
| Truist FinancialTFC | 0.2% | $3m | 52,475 | -5% |
| ComcastCMCSA | 0.2% | $3m | 106,088 | Held |
| Illinois Tool WorksITW | 0.2% | $2m | 9,147 | -13% |
| Abbott LaboratoriesABT | 0.2% | $2m | 26,400 | Held |
| Bristol-Myers SquibbBMY | 0.2% | $2m | 40,190 | -5% |
| Stanley Black & DeckerSWK | 0.2% | $2m | 24,600 | Held |
| Automatic Data ProcessingADP | 0.2% | $2m | 10,300 | Held |
| ConocoPhillipsCOP | 0.2% | $2m | 21,432 | Held |
| Analog DevicesADI | 0.2% | $2m | 5,449 | Held |
| Advanced Micro DevicesAMD | 0.2% | $2m | 3,719 | Held |
| Northrop GrummanNOC | 0.2% | $2m | 4,170 | Held |
| US BancorpUSB | 0.2% | $2m | 34,950 | Held |
| UBS Group AGUBS | 0.2% | $2m | 40,407 | Held |
| Electronic ArtsEA | 0.2% | $2m | 9,764 | -4% |
| Carrier GlobalCARR | 0.1% | $2m | 27,045 | -6% |
| Intuitive SurgicalISRG | 0.1% | $2m | 4,900 | Held |
| General ElectricGE | 0.1% | $2m | 5,176 | Held |
| CumminsCMI | 0.1% | $2m | 2,702 | -38% |
| NextEra EnergyNEE | 0.1% | $2m | 21,445 | Held |
| StrykerSYK | 0.1% | $2m | 5,780 | -12% |
Showing the largest 100 of 204.
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 12.7% since 30 June 2025.
Where the money is
Technology29.4%
Financial services13.8%
Everyday goods12.7%
Health care10.5%
Industrials8.4%
Media & telecom7.8%
Retail & consumer6.6%
Energy3.8%
Utilities1.4%
Materials0.8%
Real estate0.3%
Other4.6%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.