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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 (2016Q2)
Portfolio Summary: 201 holdings with a total value of $1,230,147,000.
#
Name
Shares
Value ($)
%
Options
Notes
51 AMERICAN EXPRESS CO 107,527 6,533,000 0.53%
52 SIMON PPTY GROUP INC NEW 29,442 6,386,000 0.52%
53 HOME DEPOT INC 49,600 6,333,000 0.51%
54 CELGENE CORP 62,007 6,116,000 0.50%
55 JOHNSON CTLS INTL PLC 135,300 5,988,000 0.49%
56 BP PLC 167,910 5,962,000 0.48%
57 CAPITAL ONE FINL CORP 90,730 5,762,000 0.47%
58 AMERICAN ELEC PWR INC 77,800 5,453,000 0.44%
59 HARRIS CORP 64,350 5,369,000 0.44%
60 CME GROUP INC 54,950 5,352,000 0.44%
61 UNITED TECHNOLOGIES CORP 52,017 5,334,000 0.43%
62 YUM BRANDS INC 64,150 5,319,000 0.43%
63 CVS HEALTH CORP 55,230 5,288,000 0.43%
64 AUTOMATIC DATA PROCESSING IN 56,690 5,208,000 0.42%
65 DANAHER CORP DEL 51,325 5,184,000 0.42%
66 PNC FINL SVCS GROUP INC 62,930 5,122,000 0.42%
67 UNION PAC CORP 58,620 5,115,000 0.42%
68 ADOBE INC 52,460 5,025,000 0.41%
69 Express Scripts, Inc. 65,980 5,001,000 0.41%
70 JD COM INC 230,000 4,883,000 0.40%
71 MASTERCARD INCORPORATED 54,860 4,831,000 0.39%
72 INTERNATIONAL BUSINESS MACHS 31,301 4,751,000 0.39%
73 CROWN CASTLE INTL CORP 46,385 4,705,000 0.38%
74 AMERICAN TOWER CORP NEW 40,230 4,571,000 0.37%
75 PHILLIPS 66 55,550 4,407,000 0.36%
76 GILEAD SCIENCES INC 51,328 4,282,000 0.35%
77 COSTCO WHSL CORP NEW 27,230 4,276,000 0.35%
78 UNITEDHEALTH GROUP INC 29,967 4,231,000 0.34%
79 SCHLUMBERGER LTD 52,374 4,142,000 0.34%
80 TARGET CORP 57,800 4,036,000 0.33%
81 SOUTHERN CO 74,050 3,971,000 0.32%
82 NIKE INC 70,710 3,903,000 0.32%
83 AUTODESK INC 69,100 3,741,000 0.30%
84 BOEING CO 28,501 3,701,000 0.30%
85 PPL CORP 97,720 3,689,000 0.30%
86 ILLINOIS TOOL WKS INC 35,150 3,661,000 0.30%
87 METLIFE INC 90,200 3,593,000 0.29%
88 INVESCO LTD 139,100 3,553,000 0.29%
89 ADVANCE AUTO PARTS INC 20,700 3,346,000 0.27%
90 MARATHON PETE CORP 86,970 3,301,000 0.27%
91 ENTERPRISE PRODS PARTNERS L 112,710 3,298,000 0.27%
92 PAYPAL HLDGS INC 89,800 3,279,000 0.27%
93 VALERO ENERGY CORP NEW 64,180 3,273,000 0.27%
94 PRICE T ROWE GROUP INC 43,080 3,144,000 0.26%
95 ZIMMER BIOMET HLDGS INC 25,180 3,031,000 0.25%
96 TJX COS INC NEW 38,250 2,954,000 0.24%
97 FISERV INC 26,590 2,891,000 0.24%
98 STANLEY BLACK &DECKER INC 24,620 2,738,000 0.22%
99 THERMO FISHER SCIENTIFIC INC 18,510 2,735,000 0.22%
100 E M C CORP MASS COM 99,200 2,695,000 0.22%
Page 2 of 5

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001161670-16-000007, filed 2016.07.01).

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.