Portfolio (Quarterly) Guide ↗

CULLINAN ASSOCIATES INC

· CIK 0001161670

13F Portfolio $1.2B AUM 207 positions Filed May 1, 2026 EDGAR ↗ ← All Funds

Q1 2026 Q4 2025 · All 6 New 31 Added 88 Reduced 10 Exited

Page 2 of 2 · 31 positions

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#	Ticker	Company	Sector	Shares	Value ↓	% Port	Chg Shares	Chg %	Period Price ①	Since Period ①
21	BSX	Boston Scientific	Healthcare	23,799.0	$1.5M	0.12%	+11K	+91.9%	$62.75	-19.6%
22	BA	Boeing	Industrials	6,475.0	$1.3M	0.10%	+300.0	+4.9%	$199.03	+12.7%
23	PANW	Palo Alto Networks Inc	Technology	6,100.0	$978K	0.08%	+100.0	+1.7%	$160.32	+55.0%
24	CTVA	Corteva Inc	Basic Materials	6,067.0	$508K	0.04%	+200.0	+3.4%	$83.71	-4.6%
25	—	Blackrock Inc	—	410.0	$394K	0.03%	+210.0	+105.0%	$961.71	—
26	CEG	Constl. Energy Corporation	Utilities	1,300.0	$363K	0.03%	+100.0	+8.3%	$279.25	+3.4%
27	FULT	Fulton Financial	Financial Services	16,600.0	$338K	0.03%	+3K	+18.6%	$20.34	+6.2%
28	VTWG	Vanguard Russ 2000 Growth ETF	—	1,407.0	$322K	0.03%	+84.0	+6.3%	$229.04	+21.0%
29	VUG	Vanguard Growth Indx ETF	—	697.0	$304K	0.03%	+44.0	+6.7%	$436.79	-79.8%
30	VONG	Vanguard Russ 1000 Growth	—	2,717.0	$298K	0.02%	+176.0	+6.9%	$109.69	+18.0%
31	COF	Capital One Financial	Financial Services	1,119.0	$204K	0.02%	+100.0	+9.8%	$182.43	+3.5%

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① Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation

Technology 25.9%

Financial Services 17.1%

Consumer Defensive 14.8%

Healthcare 11.0%

Communication Services 7.9%

Industrials 7.9%

Consumer Cyclical 7.3%

Energy 5.6%

Utilities 1.6%

Basic Materials 0.7%