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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 (2015Q3)
Portfolio Summary: 211 holdings with a total value of $1,094,824,000.
#
Name
Shares
Value ($)
%
Options
Notes
51 ABBVIE INC 100,180 5,451,000 0.50%
52 Express Scripts, Inc. 64,540 5,225,000 0.48%
53 VULCAN MATLS CO 56,428 5,033,000 0.46%
54 CELGENE CORP 46,407 5,020,000 0.46%
55 KRAFT HEINZ CO 70,840 5,000,000 0.46%
56 AT&T INC 152,165 4,958,000 0.45%
57 PRICE T ROWE GROUP INC 70,880 4,926,000 0.45%
58 AMERICAN ELEC PWR INC 79,800 4,537,000 0.41%
59 MONSANTO CO NEW 51,928 4,432,000 0.40%
60 SYSCO CORP 109,700 4,275,000 0.39%
61 MASTERCARD INCORPORATED 46,860 4,223,000 0.39%
62 KLA-TENCOR CORP 84,000 4,200,000 0.38%
63 FASTENAL CO 112,940 4,135,000 0.38%
64 ADOBE INC 49,980 4,109,000 0.38%
65 KINDER MORGAN INC DEL 142,641 3,948,000 0.36%
66 NUCOR CORP 101,655 3,817,000 0.35%
67 CVS HEALTH CORP 38,170 3,683,000 0.34%
68 EMERSON ELEC CO 82,004 3,622,000 0.33%
69 BAXTER INTL INC 109,995 3,613,000 0.33%
70 YUM BRANDS INC 44,650 3,570,000 0.33%
71 ZIMMER BIOMET HLDGS INC 37,830 3,553,000 0.32%
72 AUTOMATIC DATA PROCESSING IN 43,880 3,526,000 0.32%
73 THERMO FISHER SCIENTIFIC INC 28,380 3,470,000 0.32%
74 GILEAD SCIENCES INC 35,282 3,464,000 0.32%
75 E M C CORP MASS COM 140,900 3,404,000 0.31%
76 DANAHER CORP DEL 39,625 3,376,000 0.31%
77 KELLOGG CO 50,400 3,354,000 0.31%
78 ISHARES NASDAQ BIOTECHNOLOGY ETF 5,210 3,326,000 0.30%
79 JOHNSON CTLS INTL PLC 78,890 3,263,000 0.30%
80 CATERPILLAR INC 49,430 3,231,000 0.30%
81 SCHLUMBERGER LTD 46,065 3,177,000 0.29%
82 AMERICAN TOWER CORP NEW 36,080 3,174,000 0.29%
83 AMERIPRISE FINL INC 28,675 3,129,000 0.29%
84 AGILENT TECHNOLOGIES INC 88,800 3,049,000 0.28%
85 CME GROUP INC 32,000 2,968,000 0.27%
86 BP PLC 94,060 2,874,000 0.26%
87 HARRIS CORP 38,100 2,787,000 0.25%
88 EATON CORP PLC 53,061 2,722,000 0.25%
89 ORACLE CORP 74,350 2,686,000 0.25%
90 UNITED TECHNOLOGIES CORP 29,744 2,647,000 0.24%
91 BOEING CO 20,155 2,639,000 0.24%
92 FEDEX CORP 17,905 2,578,000 0.24%
93 UNION PAC CORP 29,050 2,568,000 0.23%
94 COSTCO WHSL CORP NEW 17,440 2,521,000 0.23%
95 PAYPAL HLDGS INC 79,100 2,455,000 0.22%
96 FISERV INC 28,290 2,450,000 0.22%
97 ALTRIA GROUP INC 44,660 2,430,000 0.22%
98 PHILLIPS 66 29,522 2,268,000 0.21%
99 WHOLE FOODS MKT INC 68,500 2,168,000 0.20%
100 STANLEY BLACK &DECKER INC 22,120 2,145,000 0.20%
Page 2 of 5

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001161670-15-000004, filed 2015.10.05).

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.