Jim Cullen - Cullen Value Fund 13F Activity & Position Changes (Q2 2025)

As of Jun 30, 2025, the Cullen Value Fund portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Jul 01, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q2 2025, the filing reported:

New Buys - Carrier Global Corporation, Credo Technology, Oracle Corporation, Invesco QQQ Trust, Series 1, The Travelers Companies, Inc., and 3 more

Increases - Apple Inc., Analog Devices, Inc., Allstate Corporation (The), Advanced Micro Devices, Inc., Amazon.com, Inc., and 68 more

Reductions - AbbVie Inc., Abbott Laboratories, Amgen Inc., Air Products and Chemicals, Inc, American Express Company, and 84 more

Complete Exits - BP p.l.c., Chubb Limited, Intel Corporation, Phillips 66

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q2 2025	AAPL Apple Inc.	Apple Inc.	Buy	+632	+0.3%	$43.41M	211,592
Q2 2025	ABBV AbbVie Inc.	AbbVie Inc.	Sell	-139	-1.0%	$2.50M	13,488
Q2 2025	ABT Abbott Laboratories	Abbott Laboratories	Sell	-293	-7.3%	$504.21K	3,707
Q2 2025	ADI Analog Devices, Inc.	Analog Devices, Inc.	Buy	+2,029	+8.6%	$6.09M	25,606
Q2 2025	ALL Allstate Corporation (The)	Allstate Corporation (The)	Buy	+30	+0.2%	$2.85M	14,143
Q2 2025	AMD Advanced Micro Devices, Inc.	Advanced Micro Devices, Inc.	Buy	+3,635	+18.6%	$3.29M	23,193
Q2 2025	AMGN Amgen Inc.	Amgen Inc.	Sell	-131	-1.6%	$2.29M	8,185
Q2 2025	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Buy	+881	+1.6%	$12.55M	57,202
Q2 2025	APA APA Corporation	APA Corporation	Buy	+637	+5.9%	$210.29K	11,497
Q2 2025	APD Air Products and Chemicals, Inc	Air Products and Chemicals, Inc	Sell	-1,769	-51.8%	$464.98K	1,649
Q2 2025	ATO Atmos Energy Corporation	Atmos Energy Corporation	Buy	+8	+0.5%	$229.15K	1,487
Q2 2025	AVGO Broadcom Inc.	Broadcom Inc.	Buy	+2,804	+3.4%	$23.20M	84,170
Q2 2025	AXP American Express Company	American Express Company	Sell	-310	-2.7%	$3.60M	11,273
Q2 2025	BA Boeing Company (The)	Boeing Company (The)	Sell	-6	-0.3%	$497.14K	2,373
Q2 2025	BAC Bank of America Corporation	Bank of America Corporation	Sell	-18	-0.0%	$1.85M	39,160
Q2 2025	BBY Best Buy Co., Inc.	Best Buy Co., Inc.	Buy	+5,008	+6.9%	$5.19M	77,302
Q2 2025	BLK BlackRock	BlackRock	Sell	-115	-2.9%	$3.99M	3,803
Q2 2025	BP BP p.l.c.	BP p.l.c.	Sell - Position Exit	-6,002	-100.0%	$0.00	-
Q2 2025	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Sell	-33	-0.0%	$47.32M	97,409
Q2 2025	BSM Black Stone Minerals, L.P.	Black Stone Minerals, L.P.	Buy	+413	+2.7%	$204.92K	15,667
Q2 2025	BWA BorgWarner Inc.	BorgWarner Inc.	Buy	+18	+0.3%	$239.03K	7,140
Q2 2025	BX Blackstone Inc.	Blackstone Inc.	Sell	-18	-0.3%	$876.57K	5,860
Q2 2025	CARR Carrier Global Corporation	Carrier Global Corporation	Buy - Position Entry	+2,903	-	$212.49K	2,903
Q2 2025	CAT Caterpillar, Inc.	Caterpillar, Inc.	Buy	+20	+0.2%	$3.38M	8,710
Q2 2025	CB Chubb Limited	Chubb Limited	Sell - Position Exit	-21,558	-100.0%	$0.00	-
Q2 2025	CLF Cleveland-Cliffs Inc.	Cleveland-Cliffs Inc.	Buy	+15,000	+33.3%	$456.52K	60,069
Q2 2025	CMCSA Comcast Corporation	Comcast Corporation	Buy	+1,243	+0.5%	$9.12M	255,545
Q2 2025	CME CME Group Inc.	CME Group Inc.	Buy	+2,495	+9.1%	$8.26M	29,977
Q2 2025	CMG Chipotle Mexican Grill, Inc.	Chipotle Mexican Grill, Inc.	Buy	+7,150	+31.0%	$1.70M	30,231
Q2 2025	CMI Cummins Inc.	Cummins Inc.	Sell	-253	-1.6%	$5.14M	15,690

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