Who owns Cullen/Frost Bankers (CFR)
Which tracked institutional funds hold CFR, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See CFR company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-09-22). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
163 tracked funds added or opened CFR while 73 trimmed or exited it between 2026-Q1 and 2026-Q2 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
CFR’s largest tracked holder by dollar value, BlackRock, Inc., sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.0pp gap the other way — the median holder sizes CFR more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in CFR divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2026-Q1 and 2026-Q2, across 529 tracked filers holding CFR, 245 increased or opened the position and 281 reduced or closed it; over the same quarter, open-market insider Form 4s were net sales.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in CFR between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 25
- BAILLIE GIFFORD & CO$345M
- Jupiter Topco LLC$94M
- SCOPUS ASSET MANAGEMENT, L.P.$23M
- Arbejdsmarkedets Tillaegspension$16M
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$13M
- TUDOR INVESTMENT CORP ET AL$8M
Full exits 36
- JANUS HENDERSON GROUP PLC$89M
- GW&K Investment Management, LLC$52M
- NATIXIS ADVISORS, LLC$44M
- PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF COLORADO$27M
- BESSEMER GROUP INC$17M
- Bridgewater Associates, LP$13M
Largest adds
- BlackRock, Inc.$336M
- First Eagle Investment Management, LLC$119M
- TWO SIGMA INVESTMENTS, LP$86M
- STATE STREET CORP$72M
- VANGUARD PORTFOLIO MANAGEMENT LLC$53M
- VANGUARD CAPITAL MANAGEMENT LLC$48M
Largest trims
- Champlain Investment Partners, LLC$59M
- Impax Asset Management Group plc$53M
- NEUBERGER BERMAN GROUP LLC$51M
- Boston Trust Walden Corp$20M
- BANK OF AMERICA CORP /DE/$17M
- WELLINGTON MANAGEMENT GROUP LLP$17M
Institutional holders
One row per tracked fund, most shares held first (every row is from one quarter; reported value breaks ties). “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding.
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| BlackRock, Inc. added | 7,335,319 | $1.1B | 13.9% | 2026-Q2 |
| Aristotle Capital Management, LLC trimmed | 4,465,464 | $690M | 8.5% | 2026-Q2 |
| STATE STREET CORP added | 3,218,249 | $497M | 6.1% | 2026-Q2 |
| VANGUARD PORTFOLIO MANAGEMENT LLC trimmed | 3,201,314 | $495M | 6.1% | 2026-Q2 |
| First Eagle Investment Management, LLC added | 2,777,658 | $429M | 5.3% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC added | 2,715,665 | $420M | 5.1% | 2026-Q2 |
| BAILLIE GIFFORD & CO new | 2,233,298 | $345M | 4.2% | 2026-Q2 |
| DIMENSIONAL FUND ADVISORS LP added | 1,652,820 | $255M | 3.1% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC added | 1,337,700 | $207M | 2.5% | 2026-Q2 |
| KING LUTHER CAPITAL MANAGEMENT CORP trimmed | 1,246,075 | $193M | 2.4% | 2026-Q2 |
| TWO SIGMA INVESTMENTS, LP added | 1,144,332 | $177M | 2.2% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ trimmed | 962,310 | $149M | 1.8% | 2026-Q2 |
| NORTHERN TRUST CORP added | 947,465 | $146M | 1.8% | 2026-Q2 |
| MORGAN STANLEY trimmed | 842,630 | $130M | 1.6% | 2026-Q2 |
| NORGES BANK added | 747,202 | $115M | 1.4% | 2026-Q2 |
| Boston Trust Walden Corp trimmed | 732,331 | $113M | 1.4% | 2026-Q2 |
| PRINCIPAL FINANCIAL GROUP INC trimmed | 654,435 | $101M | 1.2% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC trimmed | 651,588 | $101M | 1.2% | 2026-Q2 |
| FIRST TRUST ADVISORS LP trimmed | 631,586 | $98M | 1.2% | 2026-Q2 |
| Jupiter Topco LLC new | 610,241 | $94M | 1.2% | 2026-Q2 |
| JPMORGAN CHASE & CO trimmed | 596,258 | $93M | 1.1% | 2026-Q2 |
| WESTWOOD HOLDINGS GROUP INC trimmed | 590,515 | $91M | 1.1% | 2026-Q2 |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC trimmed | 578,725 | $89M | 1.1% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC trimmed | 550,371 | $85M | 1.0% | 2026-Q2 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE added | 518,552 | $80M | 1.0% | 2026-Q2 |
| Bank of New York Mellon Corp trimmed | 516,735 | $80M | 1.0% | 2026-Q2 |
| SEI INVESTMENTS CO trimmed | 484,065 | $75M | 0.9% | 2026-Q2 |
| VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. added | 460,437 | $71M | 0.9% | 2026-Q2 |
| Artemis Investment Management LLP added | 436,543 | $67M | 0.8% | 2026-Q2 |
| Madison Asset Management, LLC added | 403,055 | $62M | 0.8% | 2026-Q2 |
| Alberta Investment Management Corp | 400,000 | $62M | 0.8% | 2026-Q2 |
| ROYAL BANK OF CANADA trimmed | 395,367 | $61M | 0.7% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO added | 394,198 | $61M | 0.7% | 2026-Q2 |
| Champlain Investment Partners, LLC trimmed | 379,610 | $59M | 0.7% | 2026-Q2 |
| JONES FINANCIAL COMPANIES LLLP added | 349,854 | $54M | 0.7% | 2026-Q2 |
| WELLINGTON MANAGEMENT GROUP LLP trimmed | 335,048 | $52M | 0.6% | 2026-Q2 |
| FMR LLC added | 301,763 | $47M | 0.6% | 2026-Q2 |
| JACOBS LEVY EQUITY MANAGEMENT, INC trimmed | 269,564 | $42M | 0.5% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC trimmed | 264,585 | $41M | 0.5% | 2026-Q2 |
| AQR CAPITAL MANAGEMENT LLC added | 240,867 | $37M | 0.5% | 2026-Q2 |
| DEPRINCE RACE & ZOLLO INC trimmed | 235,795 | $36M | 0.4% | 2026-Q2 |
| SEGALL BRYANT & HAMILL, LLC added | 226,533 | $35M | 0.4% | 2026-Q2 |
| TCTC Holdings, LLC trimmed | 218,787 | $34M | 0.4% | 2026-Q2 |
| D. E. Shaw & Co., Inc. added | 216,054 | $33M | 0.4% | 2026-Q2 |
| ProShare Advisors LLC added | 186,366 | $29M | 0.4% | 2026-Q2 |
| Invesco Ltd. added | 183,437 | $28M | 0.3% | 2026-Q2 |
| Fiera Capital Corp trimmed | 183,325 | $28M | 0.3% | 2026-Q2 |
| UBS Group AG trimmed | 179,392 | $28M | 0.3% | 2026-Q2 |
| NEW YORK STATE COMMON RETIREMENT FUND added | 166,552 | $26M | 0.3% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN added | 165,493 | $26M | 0.3% | 2026-Q2 |
| RHUMBLINE ADVISERS trimmed | 159,332 | $25M | 0.3% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC added | 157,487 | $24M | 0.3% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC trimmed | 153,379 | $24M | 0.3% | 2026-Q2 |
| Retirement Systems of Alabama trimmed | 149,750 | $23M | 0.3% | 2026-Q2 |
| Lido Advisors, LLC trimmed | 141,936 | $22M | 0.3% | 2026-Q2 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed | 140,812 | $22M | 0.3% | 2026-Q2 |
| Polaris Capital Management, LLC trimmed | 133,300 | $21M | 0.3% | 2026-Q2 |
| Swiss National Bank trimmed | 120,000 | $19M | 0.2% | 2026-Q2 |
| BARTLETT & CO. WEALTH MANAGEMENT LLC trimmed | 116,594 | $18M | 0.2% | 2026-Q2 |
| Russell Investments Group, Ltd. added | 116,458 | $18M | 0.2% | 2026-Q2 |
| California Public Employees Retirement System trimmed | 114,130 | $18M | 0.2% | 2026-Q2 |
| BARCLAYS PLC added | 106,127 | $16M | 0.2% | 2026-Q2 |
| Arbejdsmarkedets Tillaegspension new | 104,400 | $16M | 0.2% | 2026-Q2 |
| PALISADE CAPITAL MANAGEMENT, LP trimmed | 104,125 | $16M | 0.2% | 2026-Q2 |
| SCOPUS ASSET MANAGEMENT, L.P. new | 99,500 | $23M | 0.3% | 2026-Q2 |
| Impax Asset Management Group plc trimmed | 95,000 | $15M | 0.2% | 2026-Q2 |
| M&T Bank Corp trimmed | 91,079 | $14M | 0.2% | 2026-Q2 |
| COMMONWEALTH EQUITY SERVICES, LLC trimmed | 87,174 | $13M | 0.2% | 2026-Q2 |
| Nuveen, LLC added | 85,294 | $13M | 0.2% | 2026-Q2 |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC added | 84,623 | $13M | 0.2% | 2026-Q2 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP trimmed | 83,868 | $13M | 0.2% | 2026-Q2 |
| Ceredex Value Advisors LLC trimmed | 82,150 | $13M | 0.2% | 2026-Q2 |
| Legal & General Group Plc trimmed | 81,034 | $13M | 0.2% | 2026-Q2 |
| ALLIANCEBERNSTEIN L.P. trimmed | 76,775 | $11M | 0.1% | 2026-Q2 |
| WHITTIER TRUST CO trimmed | 73,589 | $11M | 0.1% | 2026-Q2 |
| Hilton Capital Management, LLC added | 70,983 | $11M | 0.1% | 2026-Q2 |
| BNP PARIBAS FINANCIAL MARKETS added | 70,932 | $11M | 0.1% | 2026-Q2 |
| Martin Capital Partners, LLC trimmed | 69,851 | $11M | 0.1% | 2026-Q2 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM trimmed | 69,255 | $11M | 0.1% | 2026-Q2 |
| Quantinno Capital Management LP added | 67,110 | $10M | 0.1% | 2026-Q2 |
| STIFEL FINANCIAL CORP added | 66,441 | $10M | 0.1% | 2026-Q2 |
| FRANKLIN RESOURCES INC trimmed | 66,424 | $10M | 0.1% | 2026-Q2 |
| LPL Financial LLC added | 64,816 | $10M | 0.1% | 2026-Q2 |
| Cerity Partners LLC trimmed | 63,386 | $10M | 0.1% | 2026-Q2 |
| PRICE T ROWE ASSOCIATES INC /MD/ added | 60,916 | $9M | 0.1% | 2026-Q2 |
| VANGUARD ASSET MANAGEMENT, Ltd added | 55,371 | $9M | 0.1% | 2026-Q2 |
| AMERICAN CENTURY COMPANIES INC added | 55,297 | $9M | 0.1% | 2026-Q2 |
| STRS OHIO added | 53,790 | $8M | 0.1% | 2026-Q2 |
| Greenfield Seitz Capital Management, LLC added | 53,491 | $8M | 0.1% | 2026-Q2 |
| LAWSON KROEKER INVESTMENT MANAGEMENT INC/NE trimmed | 53,268 | $8M | 0.1% | 2026-Q2 |
| ROWLANDMILLER & PARTNERS.ADV trimmed | 51,491 | $8M | 0.1% | 2026-Q2 |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC added | 50,811 | $8M | 0.1% | 2026-Q2 |
| Argent Trust Co trimmed | 50,306 | $8M | 0.1% | 2026-Q2 |
| TUDOR INVESTMENT CORP ET AL added | 49,545 | $8M | 0.1% | 2026-Q2 |
| Mitsubishi UFJ Trust & Banking Corp added | 47,465 | $7M | 0.1% | 2026-Q2 |
| HSBC HOLDINGS PLC trimmed | 47,379 | $7M | 0.1% | 2026-Q2 |
| NEUBERGER BERMAN GROUP LLC trimmed | 47,072 | $7M | 0.1% | 2026-Q2 |
| Verition Fund Management LLC added | 46,916 | $7M | 0.1% | 2026-Q2 |
| Ilex Capital Partners (UK) LLP new | 44,525 | $7M | 0.1% | 2026-Q2 |
| MAIRS & POWER INC | 42,696 | $7M | 0.1% | 2026-Q2 |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.