# CULLINAN ASSOCIATES INC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1161670. Source: https://holderbook.com/funds/1161670-cullinan-associates-inc/

- Reported value: $1.3B
- Positions: 204
- Weight of the ten largest: 39.7%
- Filed: 2026-07-29

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $110.6M | 382,145 | 8.4% | 31 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $92.1M | 1,132,980 | 7.0% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $52.1M | 139,649 | 3.9% | 31 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $49.5M | 121,500 | 3.7% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $45.0M | 177,028 | 3.4% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $41.8M | 118,397 | 3.2% | 22 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $38.5M | 51,583 | 2.9% | 31 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $33.6M | 46,437 | 2.5% | 16 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $32.6M | 222,191 | 2.5% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $30.1M | 126,253 | 2.3% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $30.1M | 84,174 | 2.3% | 31 |
| EXXONMOBIL HOLDINGS CORP COM SHS | [XOM](https://holderbook.com/stocks/XOM/) | $28.8M | 210,525 | 2.2% | 1 |
| LAM RESEARCH CORP | [LRCXXXXX](https://holderbook.com/stocks/LRCXXXXX/) | $27.9M | 64,500 | 2.1% | 27 |
| VERTEX PHARMACEUTICALS INC | [VRTX](https://holderbook.com/stocks/VRTX/) | $25.7M | 51,762 | 1.9% | 31 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $25.4M | 90,150 | 1.9% | 31 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $24.1M | 73,638 | 1.8% | 31 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $18.7M | 62,683 | 1.4% | 31 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $18.2M | 90,984 | 1.4% | 24 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $18.0M | 59,643 | 1.4% | 31 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $17.3M | 68,800 | 1.3% | 31 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $16.2M | 143,088 | 1.2% | 31 |
| AFLAC INC | [AFL](https://holderbook.com/stocks/AFL/) | $16.2M | 138,006 | 1.2% | 31 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $16.1M | 15,128 | 1.2% | 24 |
| QUALYS INC | [QLYS](https://holderbook.com/stocks/QLYS/) | $14.1M | 102,800 | 1.1% | 11 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $13.1M | 48,623 | 1.0% | 31 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $13.1M | 38,796 | 1.0% | 31 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $12.6M | 57,334 | 1.0% | 31 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $12.4M | 19,576 | 0.9% | 31 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $11.9M | 71,525 | 0.9% | 31 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $11.8M | 80,480 | 0.9% | 31 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $11.6M | 20,521 | 0.9% | 31 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $11.5M | 97,679 | 0.9% | 31 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $10.8M | 31,575 | 0.8% | 25 |
| SOUTHERN CO | [SO](https://holderbook.com/stocks/SO/) | $9.9M | 102,972 | 0.7% | 31 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $9.8M | 27,706 | 0.7% | 31 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $9.2M | 49,744 | 0.7% | 31 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $9.2M | 9,805 | 0.7% | 31 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $9.2M | 126,824 | 0.7% | 20 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $8.8M | 24,288 | 0.7% | 31 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $8.5M | 16,616 | 0.6% | 31 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $8.2M | 6,866 | 0.6% | 31 |
| ECOLAB INC | [ECL](https://holderbook.com/stocks/ECL/) | $8.1M | 28,979 | 0.6% | 10 |
| Berkshire Hathaway Cl B | - | $7.9M | 15,940 | 0.6% | 22 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $7.9M | 51,825 | 0.6% | 31 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $7.8M | 23,657 | 0.6% | 31 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $7.7M | 134,769 | 0.6% | 31 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $7.4M | 77,267 | 0.6% | 31 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $7.4M | 52,789 | 0.6% | 31 |
| NEW YORK TIMES CO MTN BE | [NYT](https://holderbook.com/stocks/NYT/) | $7.2M | 103,367 | 0.5% | 28 |
| EMERSON ELEC CO | [EMR](https://holderbook.com/stocks/EMR/) | $7.0M | 48,750 | 0.5% | 31 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $6.6M | 6,491 | 0.5% | 31 |
| AIRBNB INC | [ABNB](https://holderbook.com/stocks/ABNB/) | $6.3M | 43,820 | 0.5% | 16 |
| CME GROUP INC | [CME](https://holderbook.com/stocks/CME/) | $6.2M | 27,897 | 0.5% | 31 |
| NORFOLK SOUTHN CORP | [NSC](https://holderbook.com/stocks/NSC/) | $6.1M | 19,400 | 0.5% | 31 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $6.0M | 46,620 | 0.5% | 31 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $5.8M | 70,375 | 0.4% | 31 |
| FASTENAL CO | [FAST](https://holderbook.com/stocks/FAST/) | $5.7M | 117,702 | 0.4% | 31 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $5.3M | 29,355 | 0.4% | 31 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $5.2M | 2,600 | 0.4% | 5 |
| PRUDENTIAL FINL INC | [PRU](https://holderbook.com/stocks/PRU/) | $4.8M | 44,904 | 0.4% | 21 |
| UNITED PARCEL SVCS INC | [UPS](https://holderbook.com/stocks/UPS/) | $4.8M | 44,927 | 0.4% | 31 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $4.8M | 46,424 | 0.4% | 31 |
| DUKE ENERGY CORP NEW | [DUK](https://holderbook.com/stocks/DUK/) | $4.7M | 36,953 | 0.4% | 31 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $4.5M | 11,976 | 0.3% | 21 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $4.5M | 6,500 | 0.3% | 15 |
| COLGATE PALMOLIVE CO | [CL](https://holderbook.com/stocks/CL/) | $4.4M | 48,289 | 0.3% | 31 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $4.3M | 32,121 | 0.3% | 31 |
| ATLAS ENERGY SOLUTIONS INC | [AESI](https://holderbook.com/stocks/AESI/) | $4.2M | 252,000 | 0.3% | 10 |
| HP INC | [HPQ](https://holderbook.com/stocks/HPQ/) | $4.2M | 189,327 | 0.3% | 21 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $4.2M | 15,260 | 0.3% | 31 |
| GALLAGHER ARTHUR J & CO | [AJG](https://holderbook.com/stocks/AJG/) | $4.0M | 17,500 | 0.3% | 1 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $3.9M | 7,600 | 0.3% | 31 |
| YUM BRANDS INC | [YUM](https://holderbook.com/stocks/YUM/) | $3.7M | 23,306 | 0.3% | 31 |
| PAYPAL HLDGS INC | [PYPL](https://holderbook.com/stocks/PYPL/) | $3.5M | 82,073 | 0.3% | 31 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $3.4M | 27,460 | 0.3% | 16 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $3.4M | 43,157 | 0.3% | 31 |
| PROLOGIS INC. | [PLD](https://holderbook.com/stocks/PLD/) | $3.2M | 23,303 | 0.2% | 31 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $3.0M | 15,558 | 0.2% | 25 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $2.8M | 13,585 | 0.2% | 19 |
| OKTA INC | [OKTA](https://holderbook.com/stocks/OKTA/) | $2.8M | 20,800 | 0.2% | 25 |
| TRUIST FINL CORP | [TFC](https://holderbook.com/stocks/TFC/) | $2.6M | 52,475 | 0.2% | 27 |
| COMCAST CORP NEW | [CMCSA](https://holderbook.com/stocks/CMCSA/) | $2.6M | 106,088 | 0.2% | 31 |
| ILLINOIS TOOL WKS INC | [ITW](https://holderbook.com/stocks/ITW/) | $2.5M | 9,147 | 0.2% | 31 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $2.4M | 26,400 | 0.2% | 31 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $2.3M | 40,190 | 0.2% | 31 |
| STANLEY BLACK & DECKER INC | [SWK](https://holderbook.com/stocks/SWK/) | $2.3M | 24,600 | 0.2% | 31 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $2.3M | 10,300 | 0.2% | 31 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $2.2M | 21,432 | 0.2% | 27 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $2.2M | 5,449 | 0.2% | 20 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $2.2M | 3,719 | 0.2% | 14 |
| NORTHROP GRUMMAN CORP | [NOC](https://holderbook.com/stocks/NOC/) | $2.1M | 4,170 | 0.2% | 31 |
| US BANCORP | [USB](https://holderbook.com/stocks/USB/) | $2.1M | 34,950 | 0.2% | 31 |
| UBS GROUP AG | [UBS](https://holderbook.com/stocks/UBS/) | $2.0M | 40,407 | 0.2% | 13 |
| ELECTRONIC ARTS INC | [EA](https://holderbook.com/stocks/EA/) | $2.0M | 9,764 | 0.2% | 26 |
| CARRIER GLOBAL CORPORATION | [CARR](https://holderbook.com/stocks/CARR/) | $2.0M | 27,045 | 0.1% | 25 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $1.9M | 4,900 | 0.1% | 22 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $1.9M | 5,176 | 0.1% | 10 |
| CUMMINS INC | [CMI](https://holderbook.com/stocks/CMI/) | $1.9M | 2,702 | 0.1% | 31 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $1.9M | 21,445 | 0.1% | 31 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $1.8M | 5,780 | 0.1% | 31 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +11.5% | +14.8% | -3.4% | 99% |
| Q1 2026 | -1.8% | -4.6% | +2.9% | 99% |
| Q4 2025 | +1.1% | +2.4% | -1.2% | 99% |
| Q3 2025 | +5.1% | +7.8% | -2.7% | 99% |
| Q2 2025 | +9.4% | +10.5% | -1.0% | 99% |
| Q1 2025 | -3.0% | -4.6% | +1.6% | 99% |
| Q4 2024 | +0.9% | +2.1% | -1.3% | 98% |
| Q3 2024 | +6.6% | +5.4% | +1.2% | 99% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.3B | 204 |
| Q1 2026 | $1.2B | 207 |
| Q4 2025 | $1.5B | 211 |
| Q3 2025 | $1.5B | 213 |
| Q2 2025 | $1.5B | 210 |
| Q1 2025 | $1.4B | 216 |
| Q4 2024 | $1.6B | 217 |
| Q3 2024 | $1.8B | 232 |
| Q2 2024 | $1.8B | 231 |
| Q1 2024 | $1.8B | 241 |
| Q4 2023 | $1.8B | 235 |
| Q3 2023 | $1.7B | 242 |