1y return+17.2%S&P 500 +20.9%
3y return+55.8%S&P 500 +68.5%
5y return+56.5%S&P 500 +74.5%
10y return+205.3%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $305 against $357 in the S&P 500.2
Cullen/Frost Bankers, Inc.S&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| AAPLApple Inc Com | $544.8M | 5.4% | |
| PVALPutnam Etf Trust Focused Lar Cap | $438.7M | 4.3% | +11.5% |
| VUGVanguard Index Fds Growth Etf | $360.1M | 3.5% | +6.2% |
| MSFTMicrosoft Corp Com | $336.4M | 3.3% | −1.0% |
| NVDANvidia Corporation Com | $327.3M | 3.2% | |
| EMXCIshares Inc Msci Emrg Chn | $317.7M | 3.1% | +21.1% |
| GOOGLAlphabet Inc Cap Stk Cl A | $236.1M | 2.3% | +1.1% |
| AMZNAmazon Com Inc Com | $212.2M | 2.1% | −6.4% |
| EFAIshares Tr Msci Eafe Etf | $211.9M | 2.1% | +1.3% |
| AVGOBroadcom Inc Com | $207.1M | 2.0% | +2.6% |
| GLWCorning Inc Com | $196.7M | 1.9% | |
| VBVanguard Index Fds Small Cp Etf | $182.2M | 1.8% | +1.8% |
| GOOGAlphabet Inc Cap Stk Cl C | $176.8M | 1.7% | |
| IWPIshares Tr Rus Md Cp Gr Etf | $173.9M | 1.7% | −6.7% |
| IWFIshares Tr Rus 1000 Grw Etf | $160.0M | 1.6% | −1.6% |
| SPYState Str Spdr S&p 500 Etf T Tr Unit | $140.9M | 1.4% | +4.4% |
| VOVanguard Index Fds Mid Cap Etf | $133.6M | 1.3% | −6.2% |
| LLYEli Lilly & Co Com | $121.3M | 1.2% | −2.6% |
| IWLGNew York Life Invts Active E Winslow Lar Cap | $119.4M | 1.2% | −1.9% |
| VVisa Inc Com Cl A | $118.0M | 1.2% | −1.3% |
| METAMeta Platforms Inc Cl A | $115.6M | 1.1% | −1.1% |
| IJJIshares Tr S&p Mc 400vl Etf | $113.5M | 1.1% | −6.9% |
| JPMJpmorgan Chase & Co Com | $112.4M | 1.1% | |
| IWDIshares Tr Rus 1000 Val Etf | $107.3M | 1.1% | +1.7% |
| KLACKla Corp Com New | $101.8M | 1.0% | +965.4% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| NVDANvidia Corporation Com | June 30, 2020 | +2006.7% | $327.3M |
| AVGOBroadcom Inc Com | June 30, 2020 | +1096.9% | $207.1M |
| GLWCorning Inc Com | June 30, 2020 | +886.1% | $196.7M |
| LLYEli Lilly & Co Com | June 30, 2020 | +630.6% | $121.3M |
| GOOGLAlphabet Inc Cap Stk Cl A | June 30, 2020 | +404.0% | $236.1M |
| GOOGAlphabet Inc Cap Stk Cl C | June 30, 2020 | +399.9% | $176.8M |
| Eaton Corp PLC ShsCUSIP G29183103 | June 30, 2020 | +387.1% | $66.7M |
| JPMJpmorgan Chase & Co Com | June 30, 2020 | +248.0% | $112.4M |
| AAPLApple Inc Com | June 30, 2020 | +217.3% | $544.8M |
| COSTCostco Wholesale Corporation Com | June 30, 2020 | +208.5% | $81.7M |
Sold off last quarter
- Honeywell Intl Inc ComCUSIP 438516106 was $24.1M
- Dupont De Nemours Inc ComCUSIP 26614N102 was $2.1M
- EDVVanguard World Fd Extended Dur was $215K
- HQYHealthequity Inc Com was $199K
- AAONAaon Inc Com Par $0.004 was $174K
- Hologic Inc ComCUSIP 436440101 was $134K
- EEMAIshares Inc Msci Em Asia Etf was $112K
- CTRACoterra Energy Inc Com was $69K
- SFStifel Finl Corp Com was $58K
- CARTMaplebear Inc Com was $56K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +11.6% | +14.8% |
| March 31, 2026 | −3.3% | −4.6% |
| December 31, 2025 | +1.6% | +2.4% |
| September 30, 2025 | +6.8% | +7.8% |
| June 30, 2025 | +8.9% | +10.5% |
| March 31, 2025 | −3.3% | −4.6% |
| December 31, 2024 | +0.7% | +2.1% |
| September 30, 2024 | +5.8% | +5.4% |
| June 30, 2024 | +2.4% | +4.0% |
| March 31, 2024 | +8.3% | +10.0% |
| December 31, 2023 | +10.5% | +11.2% |
| September 30, 2023 | −3.2% | −3.6% |
| June 30, 2023 | +7.0% | +8.3% |
| March 31, 2023 | +5.9% | +7.0% |
| December 31, 2022 | +7.9% | +7.1% |
| September 30, 2022 | −5.3% | −5.3% |
| June 30, 2022 | −15.9% | −16.5% |
| March 31, 2022 | −5.6% | −4.9% |
| December 31, 2021 | +9.3% | +10.7% |
| September 30, 2021 | +0.1% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Cullen/Frost Bankers, Inc. Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=39263&type=13F-HR&dateb=&owner=include&count=40CIK 39263
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/39263/000003926326000042/Filed July 27, 2026 · accession 0000039263-26-000042