CULLEN/FROST BANKERS, INC.

Filed: 2/6/2026ACC: 0000039263-26-000012

📋 What this filing means

CULLEN/FROST BANKERS, INC. filed this quarterly 13F‑HR report disclosing 1460 equity positions with a total reported market value of $9.09B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

1460

Positions

$9.09B

Total AUM (reported)

67.83M

Total Shares

Allocation by class

DOMESTIC COMMON STOCK$5.71B62.8%

DOMESTIC LARGE CAP FUND-ETF$1.22B13.4%

DOMESTIC MID CAP FUND-ETF$472.56M5.2%

INTL COMMON STOCK$332.32M3.7%

INTL DEVELOPED MKTS FUND-ETF$271.14M3.0%

INTL EMERGING MKTS FUND-ETF$241.34M2.7%

EQUITIES$201.09M2.2%

Portfolio Concentration

Top 3$1.26B13.9%

4–10$1.59B17.5%

11–25$1.88B20.7%

Rest$4.36B47.9%

Top 3 weight

13.9%

Top 10 weight

31.4%

Voting Authority Distribution

Total shares with voting rights: 67.83M

Sole

Full voting authority

64.73M

% of voting shares95.4%

Shared

Joint voting authority

586.14K

% of voting shares0.9%

None

No voting authority

2.51M

% of voting shares3.7%

Investment Discretion (by position count)

Sole0

Shared0

Other1460

Dominant voting typeSole · 95.4% of voting shares

Institutional Holdings1460

Rows:

APPLE INC COM

DFND

DOMESTIC COMMON STOCK

Shares1.89M

TypeSH

Market value$513.75M

5.65%

Sole

1.74M

Shared

17.25K

None

134.61K

MICROSOFT CORP COM

DFND

DOMESTIC COMMON STOCK

Shares905.53K

TypeSH

Market value$437.93M

4.82%

Sole

867.74K

Shared

5.42K

None

32.38K

PUTNAM ETF TRUST FOCUSED LAR CAP

DFND

DOMESTIC LARGE CAP FUND-ETF

Shares6.85M

TypeSH

Market value$312.28M

3.44%

Sole

6.82M

Shared

36.47K

None

950.00

NVIDIA CORPORATION COM

DFND

DOMESTIC COMMON STOCK

Shares1.62M

TypeSH

Market value$301.45M

3.32%

Sole

1.59M

Shared

6.66K

None

23.61K

VANGUARD INDEX FDS GROWTH ETF

DFND

DOMESTIC LARGE CAP FUND-ETF

Shares610.48K

TypeSH

Market value$297.83M

3.28%

Sole

606.88K

Shared

1.23K

None

2.37K

AMAZON COM INC COM

DFND

DOMESTIC COMMON STOCK

Shares936.30K

TypeSH

Market value$216.12M

2.38%

Sole

907.01K

Shared

6.74K

None

22.55K

ALPHABET INC CAP STK CL A

DFND

DOMESTIC COMMON STOCK

Shares648.16K

TypeSH

Market value$202.88M

2.23%

Sole

623.08K

Shared

4.41K

None

20.67K

ISHARES TR RUS MD CP GR ETF

DFND

DOMESTIC MID CAP FUND-ETF

Shares1.44M

TypeSH

Market value$197.17M

2.17%

Sole

1.43M

Shared

9.72K

None

4.48K

ISHARES TR MSCI EAFE ETF

DFND

INTL DEVELOPED MKTS FUND-ETF

Shares1.95M

TypeSH

Market value$187.38M

2.06%

Sole

1.92M

Shared

14.20K

None

14.30K

ISHARES INC MSCI EMRG CHN

DFND

INTL EMERGING MKTS FUND-ETF

Shares2.56M

TypeSH

Market value$185.74M

2.04%

Sole

2.52M

Shared

18.48K

None

14.22K

BROADCOM INC COM

DFND

DOMESTIC COMMON STOCK

Shares510.36K

TypeSH

Market value$176.63M

1.94%

Sole

499.06K

Shared

4.71K

None

6.58K

ISHARES TR RUS 1000 GRW ETF

DFND

DOMESTIC LARGE CAP FUND-ETF

Shares346.02K

TypeSH

Market value$163.77M

1.80%

Sole

341.35K

Shared

205.00

None

4.47K

ALPHABET INC CAP STK CL C

DFND

DOMESTIC COMMON STOCK

Shares504.88K

TypeSH

Market value$158.43M

1.74%

Sole

488.06K

Shared

2.64K

None

14.19K

VANGUARD INDEX FDS SMALL CP ETF

DFND

DOMESTIC SMALL CAP FUND-ETF

Shares567.96K

TypeSH

Market value$146.51M

1.61%

Sole

561.84K

Shared

3.92K

None

2.20K

META PLATFORMS INC CL A

DFND

DOMESTIC COMMON STOCK

Shares207.36K

TypeSH

Market value$136.88M

1.51%

Sole

204.70K

Shared

634.00

None

2.03K

SPDR S&P 500 ETF TR TR UNIT

DFND

DOMESTIC LARGE CAP FUND-ETF

Shares196.07K

TypeSH

Market value$133.71M

1.47%

Sole

189.29K

Shared

6.79K

None

0.00

VANGUARD INDEX FDS MID CAP ETF

DFND

DOMESTIC MID CAP FUND-ETF

Shares441.17K

TypeSH

Market value$128.04M

1.41%

Sole

436.38K

Shared

3.54K

None

1.25K

VISA INC COM CL A

DFND

DOMESTIC COMMON STOCK

Shares352.55K

TypeSH

Market value$123.64M

1.36%

Sole

335.98K

Shared

1.91K

None

14.66K

ELI LILLY & CO COM

DFND

DOMESTIC COMMON STOCK

Shares103.67K

TypeSH

Market value$111.41M

1.23%

Sole

102.53K

Shared

792.00

None

346.00

JPMORGAN CHASE & CO. COM

DFND

DOMESTIC COMMON STOCK

Shares344.28K

TypeSH

Market value$110.93M

1.22%

Sole

312.28K

Shared

2.90K

None

29.09K

ISHARES TR S&P MC 400VL ETF

DFND

DOMESTIC MID CAP FUND-ETF

Shares831.37K

TypeSH

Market value$109.40M

1.20%

Sole

818.65K

Shared

8.92K

None

3.80K

ISHARES TR CORE US AGGBD ET

DFND

DOMESTIC TAXABLE INVT GRADE-ETF

Shares1.02M

TypeSH

Market value$101.99M

1.12%

Sole

1.02M

Shared

491.00

None

0.00

NEW YORK LIFE INVTS ACTIVE E NYLI WINSLOW LAR

DFND

EQUITIES

Shares1.88M

TypeSH

Market value$101.78M

1.12%

Sole

1.88M

Shared

0.00

None

0.00

MASTERCARD INCORPORATED CL A

DFND

DOMESTIC COMMON STOCK

Shares161.03K

TypeSH

Market value$91.93M

1.01%

Sole

159.53K

Shared

95.00

None

1.41K

ISHARES TR RUS 1000 VAL ETF

DFND

DOMESTIC LARGE CAP FUND-ETF

Shares403.06K

TypeSH

Market value$84.78M

0.93%

Sole

389.72K

Shared

2.83K

None

10.51K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	Shared	None
APPLE INC COMDFND	DOMESTIC COMMON STOCK	1.89M	SH	$513.75M 5.65%	1.74M	17.25K	134.61K
MICROSOFT CORP COMDFND	DOMESTIC COMMON STOCK	905.53K	SH	$437.93M 4.82%	867.74K	5.42K	32.38K
PUTNAM ETF TRUST FOCUSED LAR CAPDFND	DOMESTIC LARGE CAP FUND-ETF	6.85M	SH	$312.28M 3.44%	6.82M	36.47K	950.00
NVIDIA CORPORATION COMDFND	DOMESTIC COMMON STOCK	1.62M	SH	$301.45M 3.32%	1.59M	6.66K	23.61K
VANGUARD INDEX FDS GROWTH ETFDFND	DOMESTIC LARGE CAP FUND-ETF	610.48K	SH	$297.83M 3.28%	606.88K	1.23K	2.37K
AMAZON COM INC COMDFND	DOMESTIC COMMON STOCK	936.30K	SH	$216.12M 2.38%	907.01K	6.74K	22.55K
ALPHABET INC CAP STK CL ADFND	DOMESTIC COMMON STOCK	648.16K	SH	$202.88M 2.23%	623.08K	4.41K	20.67K
ISHARES TR RUS MD CP GR ETFDFND	DOMESTIC MID CAP FUND-ETF	1.44M	SH	$197.17M 2.17%	1.43M	9.72K	4.48K
ISHARES TR MSCI EAFE ETFDFND	INTL DEVELOPED MKTS FUND-ETF	1.95M	SH	$187.38M 2.06%	1.92M	14.20K	14.30K
ISHARES INC MSCI EMRG CHNDFND	INTL EMERGING MKTS FUND-ETF	2.56M	SH	$185.74M 2.04%	2.52M	18.48K	14.22K
BROADCOM INC COMDFND	DOMESTIC COMMON STOCK	510.36K	SH	$176.63M 1.94%	499.06K	4.71K	6.58K
ISHARES TR RUS 1000 GRW ETFDFND	DOMESTIC LARGE CAP FUND-ETF	346.02K	SH	$163.77M 1.80%	341.35K	205.00	4.47K
ALPHABET INC CAP STK CL CDFND	DOMESTIC COMMON STOCK	504.88K	SH	$158.43M 1.74%	488.06K	2.64K	14.19K
VANGUARD INDEX FDS SMALL CP ETFDFND	DOMESTIC SMALL CAP FUND-ETF	567.96K	SH	$146.51M 1.61%	561.84K	3.92K	2.20K
META PLATFORMS INC CL ADFND	DOMESTIC COMMON STOCK	207.36K	SH	$136.88M 1.51%	204.70K	634.00	2.03K
SPDR S&P 500 ETF TR TR UNITDFND	DOMESTIC LARGE CAP FUND-ETF	196.07K	SH	$133.71M 1.47%	189.29K	6.79K	0.00
VANGUARD INDEX FDS MID CAP ETFDFND	DOMESTIC MID CAP FUND-ETF	441.17K	SH	$128.04M 1.41%	436.38K	3.54K	1.25K
VISA INC COM CL ADFND	DOMESTIC COMMON STOCK	352.55K	SH	$123.64M 1.36%	335.98K	1.91K	14.66K
ELI LILLY & CO COMDFND	DOMESTIC COMMON STOCK	103.67K	SH	$111.41M 1.23%	102.53K	792.00	346.00
JPMORGAN CHASE & CO. COMDFND	DOMESTIC COMMON STOCK	344.28K	SH	$110.93M 1.22%	312.28K	2.90K	29.09K
ISHARES TR S&P MC 400VL ETFDFND	DOMESTIC MID CAP FUND-ETF	831.37K	SH	$109.40M 1.20%	818.65K	8.92K	3.80K
ISHARES TR CORE US AGGBD ETDFND	DOMESTIC TAXABLE INVT GRADE-ETF	1.02M	SH	$101.99M 1.12%	1.02M	491.00	0.00
NEW YORK LIFE INVTS ACTIVE E NYLI WINSLOW LARDFND	EQUITIES	1.88M	SH	$101.78M 1.12%	1.88M	0.00	0.00
MASTERCARD INCORPORATED CL ADFND	DOMESTIC COMMON STOCK	161.03K	SH	$91.93M 1.01%	159.53K	95.00	1.41K
ISHARES TR RUS 1000 VAL ETFDFND	DOMESTIC LARGE CAP FUND-ETF	403.06K	SH	$84.78M 0.93%	389.72K	2.83K	10.51K

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