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Institutional Investment Manager
CULLINAN ASSOCIATES INC
CULLINAN ASSOCIATES INC (CIK: 0001161670) incorporated in Kentucky, located at 295 N. Hubbards Lane, Louisville, KY. Institutional holdings reported to the SEC.

Institutional Holdings (2014Q2)
Portfolio Summary: 80 holdings with a total value of $614,644,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 WAL-MART STORES INC 3,353,081 249,771,000 40.64%
2 EXXON MOBIL CORP 540,367 48,822,000 7.94%
3 PROCTER AND GAMBLE CO 508,076 39,116,000 6.36%
4 COCA COLA CO 937,766 37,613,000 6.12%
5 UNITED PARCEL SERVICE INC 303,304 26,229,000 4.27%
6 JOHNSON & JOHNSON 212,372 18,234,000 2.97%
7 MICROSOFT CORP 348,102 12,025,000 1.96%
8 Merck & Co., Inc. 146,798 6,818,000 1.11%
9 Abbott Labs Common 172,900 6,030,000 0.98%
10 VERIZON COMMUNICATIONS INC 116,703 5,874,000 0.96%
11 BB&T Corporation 172,365 5,839,000 0.95%
12 CONOCOPHILLIPS 92,219 5,579,000 0.91%
13 MEDTRONIC INC 107,122 5,513,000 0.90%
14 SCHLUMBERGER LTD 67,627 4,846,000 0.79%
15 PEPSICO INC 58,385 4,775,000 0.78%
16 3M Company 43,245 4,728,000 0.77%
17 COLGATE PALMOLIVE CO 82,524 4,727,000 0.77%
18 US BANCORP DEL 127,744 4,617,000 0.75%
19 CATERPILLAR INC 55,297 4,561,000 0.74%
20 A T & T Corp New 128,107 4,534,000 0.74%
21 PFIZER INC 158,106 4,428,000 0.72%
22 SUNTRUST BKS INC 132,373 4,179,000 0.68%
23 Baxter Intl Inc 59,876 4,147,000 0.67%
24 TEXAS INSTRS INC 116,700 4,066,000 0.66%
25 JPMORGAN CHASE & CO 72,841 3,845,000 0.63%
26 UNITED TECHNOLOGIES CORP 39,517 3,672,000 0.60%
27 BRISTOL MYERS SQUIBB CO 81,738 3,652,000 0.59%
28 Monsanto 33,338 3,293,000 0.54%
29 SYSCO CORP 95,700 3,269,000 0.53%
30 NUCOR CORP 71,003 3,075,000 0.50%
31 LOWES COS INC 74,287 3,038,000 0.49%
32 TARGET CORP 43,281 2,980,000 0.48%
33 WILLIAMS COS INC DEL 88,400 2,870,000 0.47%
34 COMCAST CORP NEW 65,700 2,742,000 0.45%
35 ORACLE CORP 86,600 2,659,000 0.43%
36 RAYTHEON CO 39,151 2,588,000 0.42%
37 HOME DEPOT INC 30,800 2,386,000 0.39%
38 INTUIT 39,100 2,386,000 0.39%
39 Fluor Corp 40,200 2,384,000 0.39%
40 BP PLC SPONS 53,003 2,212,000 0.36%
41 XILINX INC 55,300 2,190,000 0.36%
42 LILLY ELI & CO 41,200 2,023,000 0.33%
43 NORFOLK SOUTHN CORP 27,584 2,003,000 0.33%
44 ZIMMER BIOMET HLDGS INC 26,300 1,970,000 0.32%
45 CVS HEALTH CORP 32,675 1,868,000 0.30%
46 BOEING CO 18,062 1,850,000 0.30%
47 UNITEDHEALTH GROUP INC 28,100 1,839,000 0.30%
48 HARRIS CORP 36,345 1,789,000 0.29%
49 STARBUCKS CORP 26,490 1,735,000 0.28%
50 MCKESSON CORP 14,600 1,671,000 0.27%
Page 1 of 2

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001161670-14-000003, filed 2014.08.15).

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.