Cullen Capital Management, LLC
CIK 0001362535
Annualised vol
11.136955%
Beta
0.448489
HHI
173.340371
Top-10 weight
26.79266%
VaR 95%
0.985104%
VaR 99%
1.932344%
Max drawdown
27.330125%
Matched value
78.771986%
Returns of reported holdings
Loading returns…
Position changes vs prior quarter
What the latest 13F shows bought and sold against the quarter before, by share count.
| Ticker | Change | Shares now | Shares before | Share change % | Value now ($) |
|---|---|---|---|---|---|
| NVS | REDUCED | 2,033,040 | 2,037,962 | -0.24% | 318,618,100 |
| CSCO | REDUCED | 2,557,662 | 3,645,540 | -29.84% | 300,422,954 |
| MS | REDUCED | 1,413,521 | 1,433,565 | -1.4% | 295,482,478 |
| JNJ | REDUCED | 1,099,077 | 1,114,929 | -1.42% | 279,132,521 |
| C | REDUCED | 1,929,255 | 2,218,190 | -13.03% | 270,018,559 |
| MRK | REDUCED | 2,016,795 | 2,073,354 | -2.73% | 259,158,168 |
| DUK | ADDED | 1,933,412 | 1,921,458 | 0.62% | 244,731,344 |
| JCI | REDUCED | 1,671,438 | 1,690,728 | -1.14% | 244,213,790 |
| GD | ADDED | 675,358 | 673,189 | 0.32% | 239,238,992 |
| CB | ADDED | 674,693 | 674,033 | 0.1% | 229,894,839 |
| TFC | ADDED | 4,473,955 | 4,454,809 | 0.43% | 222,892,416 |
| RTX | REDUCED | 1,151,388 | 1,152,069 | -0.06% | 218,452,928 |
| NEE | REDUCED | 2,418,915 | 2,427,317 | -0.35% | 212,308,206 |
| DOC | REDUCED | 9,768,642 | 10,991,301 | -11.12% | 209,048,928 |
| XOM | NEW | 1,492,052 | - | - | 203,993,333 |
| MDT | REDUCED | 2,591,898 | 2,630,944 | -1.48% | 202,764,187 |
| AVGO | REDUCED | 532,119 | 533,686 | -0.29% | 201,007,911 |
| UNH | ADDED | 475,519 | 472,736 | 0.59% | 197,639,908 |
| VICI | ADDED | 6,969,674 | 6,788,489 | 2.67% | 185,044,842 |
| COP | REDUCED | 1,748,628 | 1,785,399 | -2.06% | 181,787,320 |
| UPS | ADDED | 1,656,471 | 1,623,438 | 2.03% | 178,070,643 |
| GPC | REDUCED | 1,411,008 | 1,564,620 | -9.82% | 166,470,776 |
| MO | REDUCED | 2,311,947 | 2,374,542 | -2.64% | 166,344,577 |
| UL | ADDED | 2,745,360 | 2,647,695 | 3.69% | 165,051,047 |
| TGT | REDUCED | 1,116,467 | 1,134,244 | -1.57% | 145,821,783 |
| CVX | REDUCED | 859,592 | 876,053 | -1.88% | 142,485,931 |
| CMCSA | REDUCED | 5,287,200 | 7,149,769 | -26.05% | 129,800,768 |
| BDX | ADDED | 824,720 | 729,161 | 13.11% | 124,804,866 |
| T | ADDED | 5,722,075 | 5,714,670 | 0.13% | 118,446,958 |
| MSFT | ADDED | 292,959 | 201,639 | 45.29% | 109,279,699 |
| BCE | REDUCED | 4,975,496 | 5,966,886 | -16.61% | 107,022,922 |
| ASX | REDUCED | 2,090,788 | 4,011,499 | -47.88% | 94,336,348 |
| TSM | REDUCED | 179,777 | 191,617 | -6.18% | 85,856,102 |
| OMC | ADDED | 1,176,691 | 1,164,690 | 1.03% | 85,698,415 |
| DEO | ADDED | 1,018,308 | 964,223 | 5.61% | 81,851,597 |
| CCI | REDUCED | 1,026,370 | 1,188,440 | -13.64% | 77,727,021 |
| NGG | ADDED | 815,548 | 794,204 | 2.69% | 67,584,488 |
| TM | ADDED | 391,325 | 312,605 | 25.18% | 65,906,880 |
| SYY | ADDED | 782,576 | 606,808 | 28.97% | 65,407,670 |
| BMY | ADDED | 1,132,367 | 1,119,669 | 1.13% | 65,246,968 |
| RTNTF | ADDED | 684,440 | 656,864 | 4.2% | 64,973,917 |
| SW | ADDED | 1,359,382 | 1,245,910 | 9.11% | 62,884,993 |
| EOG | REDUCED | 479,999 | 487,665 | -1.57% | 62,270,331 |
| ENB | ADDED | 1,145,111 | 1,122,777 | 1.99% | 62,076,484 |
| PFE | REDUCED | 2,447,200 | 2,693,507 | -9.14% | 58,928,584 |
| NVO | ADDED | 1,224,955 | 792,355 | 54.6% | 58,724,365 |
| TTE | ADDED | 718,986 | 640,080 | 12.33% | 55,908,361 |
| KDP | REDUCED | 1,700,621 | 1,764,275 | -3.61% | 55,661,321 |
| PPL | REDUCED | 1,502,353 | 1,541,645 | -2.55% | 54,610,513 |
| VZ | ADDED | 1,194,320 | 804,544 | 48.45% | 50,567,508 |
| KOF | ADDED | 447,737 | 423,141 | 5.81% | 47,572,004 |
| FHN | REDUCED | 1,831,996 | 1,964,675 | -6.75% | 46,972,384 |
| IX | ADDED | 1,220,846 | 1,080,361 | 13.0% | 46,440,997 |
| DOW | REDUCED | 1,660,870 | 2,563,614 | -35.21% | 45,441,409 |
| PPG | REDUCED | 373,663 | 383,417 | -2.54% | 45,321,578 |
| UNP | ADDED | 152,353 | 151,877 | 0.31% | 41,440,108 |
| SHEL | ADDED | 448,464 | 299,034 | 49.97% | 34,773,904 |
| IBN | REDUCED | 1,050,299 | 1,290,726 | -18.63% | 30,490,180 |
| SNY | ADDED | 615,593 | 593,301 | 3.76% | 26,261,196 |
| HON | REDUCED | 106,631 | 213,520 | -50.06% | 23,874,681 |
| HONA | NEW | 106,610 | - | - | 23,569,339 |
| KB | ADDED | 130,140 | 106,751 | 21.91% | 13,659,494 |
| KT | ADDED | 378,147 | 262,896 | 43.84% | 6,534,380 |
| ETN | REDUCED | 14,337 | 14,519 | -1.25% | 6,109,282 |
| AXP | ADDED | 14,915 | 14,480 | 3.0% | 5,044,999 |
| BWA | REDUCED | 74,351 | 90,223 | -17.59% | 4,936,906 |
| ARW | REDUCED | 20,980 | 21,345 | -1.71% | 4,477,342 |
| WMT | REDUCED | 38,704 | 41,524 | -6.79% | 4,381,486 |
| MDLZ | ADDED | 60,200 | 58,723 | 2.52% | 3,481,968 |
| AXTA | REDUCED | 97,586 | 98,177 | -0.6% | 3,339,393 |
| ORCL | ADDED | 22,741 | 20,433 | 11.3% | 3,332,694 |
| SRE | ADDED | 35,807 | 27,428 | 30.55% | 3,319,667 |
| ET | REDUCED | 163,181 | 209,917 | -22.26% | 3,120,021 |
| PKG | REDUCED | 11,686 | 11,803 | -0.99% | 2,784,540 |
| MU | REDUCED | 2,223 | 4,897 | -54.6% | 2,565,987 |
| RJF | UNCHANGED | 16,866 | 16,866 | 0.0% | 2,564,138 |
| CSX | ADDED | 49,968 | 46,062 | 8.48% | 2,374,979 |
| GOOGL | UNCHANGED | 6,643 | 6,643 | 0.0% | 2,374,009 |
| CNI | ADDED | 19,278 | 19,062 | 1.13% | 2,298,709 |
| SPG | UNCHANGED | 9,821 | 9,821 | 0.0% | 2,196,467 |
| NU | NEW | 162,115 | - | - | 2,165,856 |
| DD | REDUCED | 15,341 | 23,290 | -34.13% | 2,080,853 |
| ABBV | ADDED | 7,152 | 1,437 | 397.7% | 1,799,729 |
| BA | ADDED | 7,818 | 7,671 | 1.92% | 1,692,362 |
| ADM | REDUCED | 21,630 | 21,881 | -1.15% | 1,652,532 |
| AVNT | REDUCED | 27,416 | 27,960 | -1.95% | 1,013,295 |
| XYL | REDUCED | 8,167 | 8,775 | -6.93% | 965,421 |
| VLTO | REDUCED | 10,547 | 10,555 | -0.08% | 935,308 |
| PEP | UNCHANGED | 6,224 | 6,224 | 0.0% | 842,730 |
| ABCB | REDUCED | 9,142 | 9,251 | -1.18% | 825,157 |
| AWR | ADDED | 9,878 | 9,791 | 0.89% | 816,219 |
| WMS | ADDED | 5,184 | 4,268 | 21.46% | 813,681 |
| ZTS | ADDED | 11,152 | 9,409 | 18.52% | 801,383 |
| SWIM | ADDED | 123,530 | 107,394 | 15.03% | 799,239 |
| AAPL | UNCHANGED | 2,640 | 2,640 | 0.0% | 763,910 |
| PNR | ADDED | 9,810 | 9,736 | 0.76% | 752,035 |
| WSBC | REDUCED | 18,055 | 18,391 | -1.83% | 704,687 |
| FBIN | ADDED | 12,353 | 7,875 | 56.86% | 678,180 |
| MBC | ADDED | 65,046 | 60,455 | 7.59% | 669,323 |
| TTEK | ADDED | 23,096 | 19,837 | 16.43% | 667,243 |
| MHO | REDUCED | 4,095 | 5,889 | -30.46% | 658,435 |
| BMI | ADDED | 4,436 | 2,092 | 112.05% | 658,214 |
| CNM | ADDED | 13,330 | 12,906 | 3.29% | 643,173 |
| CWT | REDUCED | 13,060 | 13,079 | -0.15% | 635,369 |
| KWR | REDUCED | 3,955 | 4,089 | -3.28% | 628,331 |
| TREE | REDUCED | 14,088 | 19,941 | -29.35% | 623,958 |
| POOL | REDUCED | 2,804 | 3,236 | -13.35% | 602,580 |
| SSB | REDUCED | 6,007 | 6,108 | -1.65% | 600,099 |
| BBSI | ADDED | 16,844 | 15,512 | 8.59% | 598,299 |
| LAUR | REDUCED | 16,320 | 44,928 | -63.68% | 592,742 |
| HTO | REDUCED | 9,359 | 11,458 | -18.32% | 568,746 |
| DOUG | REDUCED | 309,289 | 413,225 | -25.15% | 547,442 |
| CUZ | REDUCED | 17,304 | 23,351 | -25.9% | 518,774 |
| WTTR | REDUCED | 24,901 | 34,663 | -28.16% | 497,522 |
| STN | ADDED | 7,175 | 6,980 | 2.79% | 494,429 |
| CVS | UNCHANGED | 4,745 | 4,745 | 0.0% | 490,870 |
| BDC | REDUCED | 3,401 | 3,516 | -3.27% | 407,814 |
| HIW | REDUCED | 13,217 | 13,661 | -3.25% | 398,625 |
| PLD | UNCHANGED | 2,920 | 2,920 | 0.0% | 395,572 |
| ARTNA | ADDED | 11,583 | 8,829 | 31.19% | 393,706 |
| HUN | REDUCED | 37,023 | 38,267 | -3.25% | 393,184 |
| MSEX | ADDED | 6,943 | 5,244 | 32.4% | 389,919 |
| EFSC | REDUCED | 5,821 | 6,017 | -3.26% | 383,487 |
| D | REDUCED | 5,346 | 5,356 | -0.19% | 365,078 |
| VMI | REDUCED | 619 | 643 | -3.73% | 357,534 |
| MBUU | ADDED | 12,706 | 11,126 | 14.2% | 348,526 |
| LDI | ADDED | 277,526 | 265,605 | 4.49% | 346,908 |
| VREX | ADDED | 28,808 | 21,121 | 36.4% | 300,467 |
| CWCO | REDUCED | 9,952 | 9,971 | -0.19% | 293,584 |
| ECL | REDUCED | 924 | 967 | -4.45% | 257,436 |
| RY | NEW | 1,215 | - | - | 251,469 |
| NMRK | REDUCED | 16,394 | 16,940 | -3.22% | 247,713 |
| GWRS | REDUCED | 33,471 | 33,524 | -0.16% | 242,330 |
| VNOM | REDUCED | 5,399 | 7,103 | -23.99% | 228,918 |
| LNN | REDUCED | 1,845 | 1,848 | -0.16% | 228,411 |
| ADC | UNCHANGED | 2,950 | 2,950 | 0.0% | 223,433 |
| TEX | NEW | 2,896 | - | - | 209,641 |
| ERII | NEW | 18,459 | - | - | 166,500 |
| WY | CLOSED OUT | 0 | 14,317 | -100.0% | 0 |
| RYN | CLOSED OUT | 0 | 10,776 | -100.0% | 0 |
| SM | CLOSED OUT | 0 | 8,206 | -100.0% | 0 |
| PSIX | CLOSED OUT | 0 | 6,090 | -100.0% | 0 |
Holdings (latest quarter)
| Ticker | Change | Issuer | Class | CUSIP | Value ($) | Weight % | Shares |
|---|---|---|---|---|---|---|---|
| NVS | REDUCED | Novartis AG (ADR) | ADR | 66987V109 | 318,618,100 | 3.13 | 2033040.0 |
| CSCO | REDUCED | Cisco Systems Inc. | COM | 17275R102 | 300,422,954 | 2.95 | 2557662.0 |
| MS | REDUCED | Morgan Stanley | COM | 617446448 | 295,482,478 | 2.91 | 1413521.0 |
| JNJ | REDUCED | Johnson & Johnson | COM | 478160104 | 279,132,521 | 2.75 | 1099077.0 |
| C | REDUCED | Citigroup Inc. | COM | 172967424 | 270,018,559 | 2.66 | 1929255.0 |
| - | JP Morgan Chase & Co. | COM | 46625H100 | 265,392,705 | 2.61 | 810780.0 | |
| MRK | REDUCED | Merck & Co. Inc. | COM | 58933Y105 | 259,158,168 | 2.55 | 2016795.0 |
| - | Bank of America Corp. | COM | 060505104 | 247,054,927 | 2.43 | 4335818.0 | |
| DUK | ADDED | Duke Energy Corp. | COM | 26441C204 | 244,731,344 | 2.41 | 1933412.0 |
| JCI | REDUCED | Johnson Controls International | COM | G51502105 | 244,213,790 | 2.4 | 1671438.0 |
| GD | ADDED | General Dynamics Corp. | COM | 369550108 | 239,238,992 | 2.35 | 675358.0 |
| CB | ADDED | Chubb Ltd. | COM | H1467J104 | 229,894,839 | 2.26 | 674693.0 |
| TFC | ADDED | Truist Financial Corp | COM | 89832Q109 | 222,892,416 | 2.19 | 4473955.0 |
| RTX | REDUCED | RTX Corp | COM | 75513E101 | 218,452,928 | 2.15 | 1151388.0 |
| - | Philip Morris International In | COM | 718172109 | 216,664,536 | 2.13 | 1197637.0 | |
| NEE | REDUCED | NextEra Energy Inc. | COM | 65339F101 | 212,308,206 | 2.09 | 2418915.0 |
| DOC | REDUCED | Healthpeak Properties Inc | COM | 42250P103 | 209,048,928 | 2.06 | 9768642.0 |
| XOM | NEW | ExxonMobil Holdings Corp. | COM | 30233Q108 | 203,993,333 | 2.01 | 1492052.0 |
| MDT | REDUCED | Medtronic PLC | COM | G5960L103 | 202,764,187 | 1.99 | 2591898.0 |
| AVGO | REDUCED | Broadcom Ltd. | COM | 11135F101 | 201,007,911 | 1.98 | 532119.0 |
| UNH | ADDED | UnitedHealth Group Inc. | COM | 91324P102 | 197,639,908 | 1.94 | 475519.0 |
| VICI | ADDED | Vici Properties Inc. | COM | 925652109 | 185,044,842 | 1.82 | 6969674.0 |
| COP | REDUCED | ConocoPhillips | COM | 20825C104 | 181,787,320 | 1.79 | 1748628.0 |
| UPS | ADDED | United Parcel Service Inc. | COM | 911312106 | 178,070,643 | 1.75 | 1656471.0 |
| - | Qualcomm Inc. | COM | 747525103 | 173,628,926 | 1.71 | 939601.0 | |
| GPC | REDUCED | Genuine Parts Co. | COM | 372460105 | 166,470,776 | 1.64 | 1411008.0 |
| MO | REDUCED | Altria Group Inc. | COM | 02209S103 | 166,344,577 | 1.64 | 2311947.0 |
| UL | ADDED | Unilever PLC (ADR) | ADR | 904767803 | 165,051,047 | 1.62 | 2745360.0 |
| - | The Travelers Companies Inc. | COM | 89417E109 | 158,535,019 | 1.56 | 480235.0 | |
| TGT | REDUCED | Target Corp. | COM | 87612E106 | 145,821,783 | 1.43 | 1116467.0 |
| CVX | REDUCED | Chevron Corp. | COM | 166764100 | 142,485,931 | 1.4 | 859592.0 |
| - | Lowe's Companies Inc. | COM | 548661107 | 139,207,337 | 1.37 | 631354.0 | |
| - | British American Tobacco PLC (ADR) | ADR | 110448107 | 134,367,269 | 1.32 | 2175636.0 | |
| CMCSA | REDUCED | Comcast Corp. (Cl A) | COM | 20030N101 | 129,800,768 | 1.28 | 5287200.0 |
| - | Restaurant Brands Internationa | COM | 76131D103 | 128,349,582 | 1.26 | 1770095.0 | |
| BDX | ADDED | Becton Dickinson & Co. | COM | 075887109 | 124,804,866 | 1.23 | 824720.0 |
| T | ADDED | AT&T Inc. | COM | 00206R102 | 118,446,958 | 1.16 | 5722075.0 |
| MSFT | ADDED | Microsoft Corp. | COM | 594918104 | 109,279,699 | 1.07 | 292959.0 |
| BCE | REDUCED | BCE Inc. | COM | 05534B760 | 107,022,922 | 1.05 | 4975496.0 |
| ASX | REDUCED | ASE Technology Holding Company (ADR) | ADR | 00215W100 | 94,336,348 | 0.93 | 2090788.0 |
| - | Copa Holdings SA | COM | P31076105 | 88,871,385 | 0.87 | 571263.0 | |
| TSM | REDUCED | Taiwan Semiconductor Manufacturing (ADR) | ADR | 874039100 | 85,856,102 | 0.84 | 179777.0 |
| OMC | ADDED | Omnicom Group Inc. | COM | 681919106 | 85,698,415 | 0.84 | 1176691.0 |
| DEO | ADDED | Diageo PLC (ADR) | ADR | 25243Q205 | 81,851,597 | 0.81 | 1018308.0 |
| CCI | REDUCED | Crown Castle Inc. | COM | 22822V101 | 77,727,021 | 0.76 | 1026370.0 |
| - | International Business Machine | COM | 459200101 | 71,557,495 | 0.7 | 254463.0 | |
| - | Millicom Intl Cellular | COM | L6388F110 | 71,258,490 | 0.7 | 785131.0 | |
| NGG | ADDED | National Grid PLC (ADR) | ADR | 636274409 | 67,584,488 | 0.66 | 815548.0 |
| TM | ADDED | Toyota Motor Corp. (ADR) | ADR | 892331307 | 65,906,880 | 0.65 | 391325.0 |
| SYY | ADDED | Sysco Corp. | COM | 871829107 | 65,407,670 | 0.64 | 782576.0 |
| BMY | ADDED | Bristol-Myers Squibb Co. | COM | 110122108 | 65,246,968 | 0.64 | 1132367.0 |
| RTNTF | ADDED | Rio Tinto PLC (ADR) | ADR | 767204100 | 64,973,917 | 0.64 | 684440.0 |
| SW | ADDED | Smurfit Westrock PLC | COM | G8267P108 | 62,884,993 | 0.62 | 1359382.0 |
| EOG | REDUCED | EOG Resources Inc. | COM | 26875P101 | 62,270,331 | 0.61 | 479999.0 |
| ENB | ADDED | Enbridge Inc. | COM | 29250N105 | 62,076,484 | 0.61 | 1145111.0 |
| PFE | REDUCED | Pfizer Inc. | COM | 717081103 | 58,928,584 | 0.58 | 2447200.0 |
| NVO | ADDED | Novo Nordisk A/S (ADR) | ADR | 670100205 | 58,724,365 | 0.58 | 1224955.0 |
| TTE | ADDED | TotalEnergies SE | COM | F92124100 | 55,908,361 | 0.55 | 718986.0 |
| KDP | REDUCED | Keurig Dr Pepper Inc | COM | 49271V100 | 55,661,321 | 0.55 | 1700621.0 |
| - | Power Corporation of Canada | COM | 739239101 | 55,121,362 | 0.54 | 886766.0 | |
| PPL | REDUCED | PPL Corp. | COM | 69351T106 | 54,610,513 | 0.54 | 1502353.0 |
| VZ | ADDED | Verizon Communications Inc. | COM | 92343V104 | 50,567,508 | 0.5 | 1194320.0 |
| KOF | ADDED | Coca-Cola Femsa SAB de CV (ADR) | ADR | 191241108 | 47,572,004 | 0.47 | 447737.0 |
| - | Petroleo Brasileiro SA (ADR) | ADR | 71654V408 | 47,222,883 | 0.46 | 2922208.0 | |
| FHN | REDUCED | First Horizon Corp. | COM | 320517105 | 46,972,384 | 0.46 | 1831996.0 |
| IX | ADDED | ORIX Corp. (ADR) | ADR | 686330101 | 46,440,997 | 0.46 | 1220846.0 |
| DOW | REDUCED | Dow Inc | COM | 260557103 | 45,441,409 | 0.45 | 1660870.0 |
| PPG | REDUCED | PPG Industries Inc. | COM | 693506107 | 45,321,578 | 0.45 | 373663.0 |
| - | The PNC Financial Services Gro | COM | 693475105 | 44,639,231 | 0.44 | 181298.0 | |
| - | American International Group I | COM | 026874784 | 42,778,472 | 0.42 | 573977.0 | |
| UNP | ADDED | Union Pacific Corp. | COM | 907818108 | 41,440,108 | 0.41 | 152353.0 |
| - | iShares MSCI South Korea ETF | COM | 464286772 | 40,723,028 | 0.4 | 201699.0 | |
| SHEL | ADDED | Shell PLC (ADR) | ADR | 780259305 | 34,773,904 | 0.34 | 448464.0 |
| - | Coca Cola Euro Pacific Partner | COM | G25839104 | 30,519,275 | 0.3 | 304979.0 | |
| IBN | REDUCED | ICICI Bank Ltd. (ADR) | ADR | 45104G104 | 30,490,180 | 0.3 | 1050299.0 |
| SNY | ADDED | Sanofi (ADR) | ADR | 80105N105 | 26,261,196 | 0.26 | 615593.0 |
| HON | REDUCED | Honeywell International Inc. | COM | 438516205 | 23,874,681 | 0.23 | 106631.0 |
| HONA | NEW | Honeywell Aerospace Inc. | COM | 43849R105 | 23,569,339 | 0.23 | 106610.0 |
| - | Kaspi.kz JSC (ADR) | ADR | 48581R205 | 20,299,232 | 0.2 | 234294.0 | |
| - | iShares MSCI Taiwan ETF | COM | 46434G772 | 17,399,213 | 0.17 | 160199.0 | |
| KB | ADDED | KB Financial Group Inc. (ADR) | ADR | 48241A105 | 13,659,494 | 0.13 | 130140.0 |
| - | Applied Materials Inc. | COM | 038222105 | 11,885,397 | 0.12 | 16439.0 | |
| - | Axia Energia ADR | ADR | 15234Q207 | 10,968,112 | 0.11 | 1038647.0 | |
| - | State Street Communication Ser | COM | 81369Y852 | 8,181,518 | 0.08 | 76370.0 | |
| - | State Street Health Care Selec | COM | 81369Y209 | 8,157,663 | 0.08 | 51416.0 | |
| - | Itau Unibanco Holding SA (ADR) | ADR | 465562106 | 7,592,937 | 0.07 | 929368.0 | |
| KT | ADDED | KT Corp. (ADR) | ADR | 48268K101 | 6,534,380 | 0.06 | 378147.0 |
| ETN | REDUCED | Eaton Corp. PLC | COM | G29183103 | 6,109,282 | 0.06 | 14337.0 |
| AXP | ADDED | American Express Co. | COM | 025816109 | 5,044,999 | 0.05 | 14915.0 |
| BWA | REDUCED | BorgWarner Inc. | COM | 099724106 | 4,936,906 | 0.05 | 74351.0 |
| ARW | REDUCED | Arrow Electronics Inc. | COM | 042735100 | 4,477,342 | 0.04 | 20980.0 |
| WMT | REDUCED | Walmart Inc. | COM | 931142103 | 4,381,486 | 0.04 | 38704.0 |
| - | The Walt Disney Co. | COM | 254687106 | 4,092,358 | 0.04 | 42518.0 | |
| - | The Allstate Corp. | COM | 020002101 | 4,033,321 | 0.04 | 16951.0 | |
| - | WisdomTree India Earnings Fund | COM | 97717W422 | 3,996,123 | 0.04 | 93411.0 | |
| - | The Cigna Group | COM | 125523100 | 3,974,479 | 0.04 | 14417.0 | |
| - | iShares MSCI Chile ETF | COM | 464286640 | 3,520,914 | 0.03 | 88688.0 | |
| MDLZ | ADDED | Mondelez International Inc. | COM | 609207105 | 3,481,968 | 0.03 | 60200.0 |
| AXTA | REDUCED | Axalta Coating Systems Ltd. | COM | G0750C108 | 3,339,393 | 0.03 | 97586.0 |
| ORCL | ADDED | Oracle Corp. | COM | 68389X105 | 3,332,694 | 0.03 | 22741.0 |
| SRE | ADDED | Sempra | COM | 816851109 | 3,319,667 | 0.03 | 35807.0 |
| ET | REDUCED | Energy Transfer LP | COM | 29273V100 | 3,120,021 | 0.03 | 163181.0 |
| - | Enterprise Products Partners L | COM | 293792107 | 2,944,072 | 0.03 | 80089.0 | |
| - | iShares MSCI EAFE Value ETF | COM | 464288877 | 2,916,172 | 0.03 | 38095.0 | |
| PKG | REDUCED | Packaging Corp. of America | COM | 695156109 | 2,784,540 | 0.03 | 11686.0 |
| MU | REDUCED | Micron Technology Inc. | COM | 595112103 | 2,565,987 | 0.03 | 2223.0 |
| RJF | UNCHANGED | Raymond James Financial Inc. | COM | 754730109 | 2,564,138 | 0.03 | 16866.0 |
| CSX | ADDED | CSX Corp. | COM | 126408103 | 2,374,979 | 0.02 | 49968.0 |
| GOOGL | UNCHANGED | Alphabet Inc. | COM | 02079K305 | 2,374,009 | 0.02 | 6643.0 |
| - | The JM Smucker Co. | COM | 832696405 | 2,316,038 | 0.02 | 20587.0 | |
| CNI | ADDED | Canadian National Railway Co. | COM | 136375102 | 2,298,709 | 0.02 | 19278.0 |
| SPG | UNCHANGED | Simon Property Group Inc. | COM | 828806109 | 2,196,467 | 0.02 | 9821.0 |
| NU | NEW | Nu Holdings | COM | G6683N103 | 2,165,856 | 0.02 | 162115.0 |
| DD | REDUCED | DuPont De Nemours Inc. | COM | 26614N201 | 2,080,853 | 0.02 | 15341.0 |
| - | State Street SPDR Bloomberg 1- | COM | 78468R663 | 2,025,152 | 0.02 | 22099.0 | |
| ABBV | ADDED | AbbVie Inc. | COM | 00287Y109 | 1,799,729 | 0.02 | 7152.0 |
| BA | ADDED | BOEING CO/THE | COM | 097023105 | 1,692,362 | 0.02 | 7818.0 |
| ADM | REDUCED | Archer-Daniels-Midland Co. | COM | 039483102 | 1,652,532 | 0.02 | 21630.0 |
| - | Sensata Technologies Holding P | COM | G8060N102 | 1,414,918 | 0.01 | 29638.0 | |
| - | Marriot Vacations Worldwide Co | COM | 57164Y107 | 1,311,196 | 0.01 | 12870.0 | |
| - | State Street Consumer Discreti | COM | 81369Y407 | 1,153,214 | 0.01 | 9833.0 | |
| - | McDonald's Corp. | COM | 580135101 | 1,118,272 | 0.01 | 4137.0 | |
| - | Adobe Systems Inc. | COM | 00724F101 | 1,113,464 | 0.01 | 5431.0 | |
| - | The Clorox Co. | COM | 189054109 | 1,020,635 | 0.01 | 10694.0 | |
| AVNT | REDUCED | Avient Corp. | COM | 05368V106 | 1,013,295 | 0.01 | 27416.0 |
| - | WP Carey Inc. | COM | 92936U109 | 987,916 | 0.01 | 13817.0 | |
| - | State Street Technology Select | COM | 81369Y803 | 986,703 | 0.01 | 5179.0 | |
| - | State Street Consumer Staples | COM | 81369Y308 | 983,050 | 0.01 | 11834.0 | |
| XYL | REDUCED | Xylem Inc. | COM | 98419M100 | 965,421 | 0.01 | 8167.0 |
| VLTO | REDUCED | Veralto Corp. | COM | 92338C103 | 935,308 | 0.01 | 10547.0 |
| PEP | UNCHANGED | PepsiCo Inc. | COM | 713448108 | 842,730 | 0.01 | 6224.0 |
| ABCB | REDUCED | Ameris Bancorp | COM | 03076K108 | 825,157 | 0.01 | 9142.0 |
| - | Axia Energia Preferred C (ADR) | ADR | 15236F100 | 821,771 | 0.01 | 77893.0 | |
| AWR | ADDED | American States Water Co. | COM | 029899101 | 816,219 | 0.01 | 9878.0 |
| WMS | ADDED | Advanced Drainage Systems Inc. | COM | 00790R104 | 813,681 | 0.01 | 5184.0 |
| ZTS | ADDED | Zoetis Inc. | COM | 98978V103 | 801,383 | 0.01 | 11152.0 |
| SWIM | ADDED | Latham Group Inc. | COM | 51819L107 | 799,239 | 0.01 | 123530.0 |
| AAPL | UNCHANGED | Apple Inc. | COM | 037833100 | 763,910 | 0.01 | 2640.0 |
| PNR | ADDED | Pentair PLC | COM | G7S00T104 | 752,035 | 0.01 | 9810.0 |
| - | Essential Utilites Inc. | COM | 29670G102 | 728,426 | 0.01 | 19014.0 | |
| - | Public Service Enterprise Grou | COM | 744573106 | 726,220 | 0.01 | 8948.0 | |
| - | The Coca-Cola Co. | COM | 191216100 | 721,596 | 0.01 | 8879.0 | |
| WSBC | REDUCED | WesBanco Inc. | COM | 950810101 | 704,687 | 0.01 | 18055.0 |
| - | The York Water Co. | COM | 987184108 | 701,854 | 0.01 | 22899.0 | |
| - | First Interstate Bancsystem In | COM | 32055Y201 | 700,905 | 0.01 | 18177.0 | |
| - | Companhia de Saneamento Basico (ADR) | ADR | 20441A102 | 694,334 | 0.01 | 120127.0 | |
| FBIN | ADDED | Fortune Brands Innovations Inc | COM | 34964C106 | 678,180 | 0.01 | 12353.0 |
| MBC | ADDED | Masterbrand Inc. | COM | 57638P104 | 669,323 | 0.01 | 65046.0 |
| TTEK | ADDED | Tetra Tech Inc. | COM | 88162G103 | 667,243 | 0.01 | 23096.0 |
| MHO | REDUCED | M/I Homes Inc. | COM | 55305B101 | 658,435 | 0.01 | 4095.0 |
| BMI | ADDED | Badger Meter Inc. | COM | 056525108 | 658,214 | 0.01 | 4436.0 |
| CNM | ADDED | Core & Main Inc | COM | 21874C102 | 643,173 | 0.01 | 13330.0 |
| CWT | REDUCED | California Water Service Group | COM | 130788102 | 635,369 | 0.01 | 13060.0 |
| KWR | REDUCED | Quaker Chemical Corp. | COM | 747316107 | 628,331 | 0.01 | 3955.0 |
| TREE | REDUCED | LendingTree Inc. | COM | 52603B107 | 623,958 | 0.01 | 14088.0 |
| POOL | REDUCED | Pool Corp. | COM | 73278L105 | 602,580 | 0.01 | 2804.0 |
| - | State Street Real Estate Selec | COM | 81369Y860 | 600,789 | 0.01 | 13645.0 | |
| SSB | REDUCED | SouthState Bank Corp. | COM | 84472E102 | 600,099 | 0.01 | 6007.0 |
| BBSI | ADDED | Barrett Business Services Inc. | COM | 068463108 | 598,299 | 0.01 | 16844.0 |
| LAUR | REDUCED | Laureate Education Inc. | COM | 518613203 | 592,742 | 0.01 | 16320.0 |
| HTO | REDUCED | H2O America | COM | 784305104 | 568,746 | 0.01 | 9359.0 |
| - | Simons First National Corp. | COM | 828730200 | 567,836 | 0.01 | 25070.0 | |
| - | American Water Works Company I | COM | 030420103 | 561,583 | 0.01 | 4268.0 | |
| - | State Street Industrial Select | COM | 81369Y704 | 549,022 | 0.01 | 2964.0 | |
| DOUG | REDUCED | Douglas Elliman Inc. | COM | 25961D105 | 547,442 | 0.01 | 309289.0 |
| - | PennyMac Financial Services In | COM | 70932M107 | 545,769 | 0.01 | 6266.0 | |
| CUZ | REDUCED | Cousins Properties Inc. | COM | 222795502 | 518,774 | 0.01 | 17304.0 |
| WTTR | REDUCED | Select Water Solutions Inc. | COM | 81617J301 | 497,522 | 0.0 | 24901.0 |
| STN | ADDED | Stantec Inc. | COM | 85472N109 | 494,429 | 0.0 | 7175.0 |
| CVS | UNCHANGED | CVS Health Corp. | COM | 126650100 | 490,870 | 0.0 | 4745.0 |
| - | The Procter & Gamble Co. | COM | 742718109 | 487,285 | 0.0 | 3323.0 | |
| - | iShares Russell 1000 Value ETF | COM | 464287598 | 484,860 | 0.0 | 2000.0 | |
| - | Devon Energy Corp. | COM | 25179M103 | 411,919 | 0.0 | 9969.0 | |
| BDC | REDUCED | Belden Inc. | COM | 077454106 | 407,814 | 0.0 | 3401.0 |
| - | Canadian Pacific Kansas City L | COM | 13646K108 | 404,309 | 0.0 | 4666.0 | |
| - | Solstice Advanced Materials In | COM | 83443Q103 | 400,118 | 0.0 | 4516.0 | |
| HIW | REDUCED | Highwoods Properties Inc. | COM | 431284108 | 398,625 | 0.0 | 13217.0 |
| PLD | UNCHANGED | Prologis Inc. | COM | 74340W103 | 395,572 | 0.0 | 2920.0 |
| - | Portland General Electric Co. | COM | 736508847 | 394,530 | 0.0 | 7612.0 | |
| ARTNA | ADDED | Artesian Resources Corp. | COM | 043113208 | 393,706 | 0.0 | 11583.0 |
| HUN | REDUCED | Huntsman Corp. | COM | 447011107 | 393,184 | 0.0 | 37023.0 |
| MSEX | ADDED | Middlesex Water Co. | COM | 596680108 | 389,919 | 0.0 | 6943.0 |
| EFSC | REDUCED | Enterprise Financial Services | COM | 293712105 | 383,487 | 0.0 | 5821.0 |
| D | REDUCED | Dominion Energy Inc. | COM | 25746U109 | 365,078 | 0.0 | 5346.0 |
| VMI | REDUCED | Valmont Industries Inc. | COM | 920253101 | 357,534 | 0.0 | 619.0 |
| MBUU | ADDED | Malibu Boats Inc. | COM | 56117J100 | 348,526 | 0.0 | 12706.0 |
| LDI | ADDED | LoanDepot Inc. | COM | 53946R106 | 346,908 | 0.0 | 277526.0 |
| - | iShares MSCI India ETF | COM | 46429B598 | 316,491 | 0.0 | 6408.0 | |
| - | iShares MSCI Malaysia ETF | COM | 46434G814 | 311,542 | 0.0 | 11560.0 | |
| VREX | ADDED | Varex Imaging Corp. | COM | 92214X106 | 300,467 | 0.0 | 28808.0 |
| - | John B. Sanfilippo & Son Inc. | COM | 800422107 | 296,666 | 0.0 | 3450.0 | |
| - | A.O. Smith Corp. | COM | 831865209 | 294,847 | 0.0 | 4701.0 | |
| CWCO | REDUCED | Consolidated Water Company Ltd | COM | G23773107 | 293,584 | 0.0 | 9952.0 |
| - | State Street Financial Select | COM | 81369Y605 | 283,919 | 0.0 | 5296.0 | |
| - | State Street Utilities Select | COM | 81369Y886 | 283,375 | 0.0 | 6250.0 | |
| - | Carter's Inc. | COM | 146229109 | 258,238 | 0.0 | 6274.0 | |
| ECL | REDUCED | Ecolab Inc. | COM | 278865100 | 257,436 | 0.0 | 924.0 |
| RY | NEW | Royal Bank of Canada | COM | 780087102 | 251,469 | 0.0 | 1215.0 |
| NMRK | REDUCED | Newmark Group Inc. | COM | 65158N102 | 247,713 | 0.0 | 16394.0 |
| - | Masco Corp. | COM | 574599106 | 244,354 | 0.0 | 3003.0 | |
| GWRS | REDUCED | Global Water Resources Inc. | COM | 379463102 | 242,330 | 0.0 | 33471.0 |
| VNOM | REDUCED | Viper Energy Inc | COM | 64361Q101 | 228,918 | 0.0 | 5399.0 |
| LNN | REDUCED | Lindsay Corp. | COM | 535555106 | 228,411 | 0.0 | 1845.0 |
| ADC | UNCHANGED | Agree Realty Corp. | COM | 008492100 | 223,433 | 0.0 | 2950.0 |
| - | Essential Properties Realty Tr | COM | 29670E107 | 212,532 | 0.0 | 7120.0 | |
| TEX | NEW | Terex Corp. | COM | 880779103 | 209,641 | 0.0 | 2896.0 |
| ERII | NEW | Energy Recovery Inc. | COM | 29270J100 | 166,500 | 0.0 | 18459.0 |
| - | Nokia OYJ (ADR) | ADR | 654902204 | 160,157 | 0.0 | 12060.0 |
Quarterly portfolios
| Period | Filed | Value ($) | Positions | Vol % | Beta | Max DD % |
|---|---|---|---|---|---|---|
| 2026-06-30 | 2026-08-13 | 10,167,805,420 | 208 | 11.136955 | 0.448489 | 27.330125 |
| 2026-03-31 | 2026-05-15 | 9,752,783,439 | 213 | 11.119098 | 0.442576 | 27.168755 |
| 2025-12-31 | 2026-02-13 | 9,156,332,788 | 225 | 10.963483 | 0.439929 | 26.835 |
| 2025-09-30 | 2025-11-05 | 9,141,133,598 | 217 | 11.394151 | 0.456941 | 27.824981 |
| 2025-06-30 | 2025-09-30 | 8,781,527,533 | 198 | 11.411667 | 0.459049 | 27.604115 |
| 2025-03-31 | 2025-05-15 | 8,656,930,816 | 205 | 11.476748 | 0.449224 | 28.004333 |
| 2024-12-31 | 2025-02-13 | 8,585,605,190 | 208 | 11.064965 | 0.441854 | 27.008725 |