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Institutional Investment Manager
CULLEN/FROST BANKERS, INC.
CULLEN/FROST BANKERS, INC. (CIK: 0000039263) incorporated in Texas, registered under National Commercial Banks, located at 111 W Houston St, San Antonio, TX. Institutional holdings reported to the SEC.

Institutional Holdings (2015Q3)
Portfolio Summary: 374 holdings with a total value of $2,520,352,000.
#
Name
Shares
Value ($)
%
Options
Notes
101 LAS VEGAS SANDS CORP 216,465 8,219,000 0.33%
102 WAL-MART STORES INC 126,582 8,208,000 0.33%
103 DUKE ENERGY CORP NEW 113,562 8,169,000 0.32%
104 SPLUNK INC 143,321 7,933,000 0.31%
105 MCDONALDS CORP 79,775 7,860,000 0.31%
106 INTEL CORP 251,372 7,576,000 0.30%
107 WORKDAY INC 108,698 7,485,000 0.30%
108 BERKSHIRE HATHAWAY INC DEL 54,068 7,051,000 0.28%
109 3M CO 48,401 6,861,000 0.27%
110 KINDER MORGAN INC DEL 245,765 6,803,000 0.27%
111 ANADARKO PETE CORP 108,130 6,530,000 0.26%
112 ALTRIA GROUP INC 117,354 6,384,000 0.25%
113 LILLY ELI & CO 74,955 6,273,000 0.25%
114 INVESCO LTD 198,912 6,212,000 0.25%
115 KRAFT HEINZ CO 87,626 6,185,000 0.25%
116 UNITED TECHNOLOGIES CORP 68,977 6,138,000 0.24%
117 PLAINS ALL AMERN PIPELINE L 198,390 6,027,000 0.24%
118 CLOROX CO DEL 51,211 5,917,000 0.23%
119 ADOBE INC 70,991 5,836,000 0.23%
120 KIMBERLY CLARK CORP 52,043 5,675,000 0.23%
121 EMERSON ELEC CO 120,741 5,333,000 0.21%
122 COLGATE PALMOLIVE CO 83,255 5,284,000 0.21%
123 SANDISK CORP 97,007 5,270,000 0.21%
124 ISHARES RUSSELL 2000 GROWTH ETF 39,195 5,251,000 0.21%
125 HILTON WORLDWIDE 226,010 5,184,000 0.21%
126 ISHARES TR 179,705 5,156,000 0.20%
127 LABORATORY CORP AMER HLDGS 47,088 5,108,000 0.20%
128 AMERICAN WTR WKS CO INC NEW 91,373 5,033,000 0.20%
129 ENERGY TRANSFER PRTNRS L P 120,888 4,965,000 0.20%
130 YUM BRANDS INC 59,990 4,796,000 0.19%
131 FORD MTR CO DEL 352,244 4,780,000 0.19%
132 NEXTERA ENERGY INC 47,807 4,663,000 0.19%
133 PACCAR INC 88,914 4,638,000 0.18%
134 DU PONT E I DE NEMOURS & CO 94,173 4,539,000 0.18%
135 AUTOMATIC DATA PROCESSING IN 56,272 4,522,000 0.18%
136 ISHARES TR 41,188 4,514,000 0.18%
137 CONOCOPHILLIPS 93,160 4,468,000 0.18%
138 POWERSHARES ETF TRUST 158,309 4,435,000 0.18%
139 NOKIA CORP 653,822 4,433,000 0.18%
140 VANGUARD INTL EQUITY INDEX F 101,039 4,307,000 0.17%
141 BANK AMER CORP 276,116 4,302,000 0.17%
142 PROSPERITY BANCSHARES INC 87,357 4,290,000 0.17%
143 JUNIPER NETWORKS 161,584 4,154,000 0.16%
144 BANK NEW YORK MELLON CORP 98,791 3,868,000 0.15%
145 JOHNSON CTLS INTL PLC 92,904 3,842,000 0.15%
146 US BANCORP DEL 93,614 3,839,000 0.15%
147 CUMMINS INC 34,938 3,793,000 0.15%
148 QUALCOMM INC 70,601 3,793,000 0.15%
149 FEDEX CORP 25,769 3,710,000 0.15%
150 ALTERA CORPORATION 70,466 3,529,000 0.14%
Page 3 of 8

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0000039263-15-000050, filed 2015.10.26).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.