CULLEN FROST BANKERS INC
Q3 2026 Form 13-F
Filing Structure
Reports holdings for
- Frost Bank - FWA (not a 13F filer in our records) · since Q2 2020 · declared by one filing
- Frost Investment Advisors, LLC (not a 13F filer in our records) · since Q2 2020 · declared by one filing
- Frost Investment Services, LLC (not a 13F filer in our records) · since Q2 2020 · declared by one filing
- Frost Investment Advisors LLC · File #028-13146 · Q1 2019 – Q1 2025 · declared by one filing
- Frost Investment Services LLC · File #028-19486 · Q1 2019 – Q1 2025 · declared by one filing
- Frost Bank-FWA · File #028-19490 · Q1 2019 – Q1 2025 · declared by one filing
Key People
Directors & officers from Form 4 filingsDescription and Activity
Cullen/Frost Bankers, Inc., headquartered in San Antonio, Texas, is a financial holding company primarily operating through its principal subsidiary, Frost Bank. With around 180 financial centers statewide, Frost Bank offers a comprehensive range of financial services, including commercial and consumer banking, trust and investment management, insurance, brokerage, and leasing.
The bank’s commercial banking services support businesses with loans for various purposes such as corporate needs, equipment purchases, and inventory financing. On the consumer side, Frost Bank provides a full spectrum of banking products, including checking accounts, savings programs, ATMs, and loan products. Additionally, the bank facilitates international banking services, particularly aiding customers engaged in business with Mexico, and acts as a correspondent for other financial institutions.
Cullen/Frost's subsidiaries extend its financial offerings further. These include Frost Insurance Agency, Inc., an insurance brokerage firm; Frost Brokerage Services, Inc., a securities brokerage firm; Frost Investment Advisors, LLC, a registered investment advisor; Tri-Frost Corporation, a securities holding company; and Cullen/Frost Capital Trust II, which issues trust preferred securities to Cullen/Frost. The primary income source for Cullen/Frost is dividends from its subsidiaries, especially Frost Bank. Continue reading...
The company operates under strict regulatory frameworks governed by federal and state laws, including capital and liquidity requirements, and community reinvestment obligations. The Federal Reserve Board and the Texas Department of Banking are the primary regulators overseeing Frost Bank’s compliance with these regulations. The bank’s financial health and operations are influenced by several factors, including economic conditions, interest rates, and industry competition.
Cullen/Frost is subject to various consumer protection laws and regulations, such as the Equal Credit Opportunity Act, the Fair Credit Reporting Act, and the Truth in Lending Act. Additionally, it complies with anti-money laundering laws, cybersecurity standards, and environmental, social, and governance (ESG) matters. Regulatory oversight is provided by bodies including the Consumer Financial Protection Bureau, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (FDIC), which insures deposits up to $250,000 per depositor.
The company has a long history, dating back to 1868, and is led by an experienced executive team. Chairman and CEO Phillip D. Green, who has been with the bank since 1980, leads the company along with other long-tenured executives like President Paul H. Bracher and Chief Financial Officer Jerry Salinas. The leadership team’s extensive experience spans various roles and industries, contributing to the company’s strategic direction and operational management.
Overall, Cullen/Frost Bankers, Inc. is a well-regulated and diversified financial services provider with a strong regional presence in Texas, a broad range of banking services, and a seasoned management team.
Filing Navigation
Coverage begins with the second quarter of 2013. Earlier quarters are not shown while their accuracy is being verified.
13F Metrics
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Q3 2026 13F record
Q3 2026 13F filing summary
| Period of report | September 30, 2026 |
|---|---|
| Filed | October 28, 2026 |
| Form | 13F-HR |
| Reported value | $10.2B |
| Positions | 1,469 |
| Change in reported value | +0.7% |
| New positions | 180 |
| Exited positions | 143 |
| Position turnover | 20.0% |
| Top-10 concentration | 33.9% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q3 2026 13F
Filed Oct 28, 2026
|
1,469 | $10.2B |
|
Q2 2026 13F
Filed Jul 27, 2026
|
1,404 | $10.1B |
|
Q1 2026 13F
Filed May 5, 2026
|
1,381 | $8.8B |
|
Q4 2025 13F
Filed Feb 6, 2026
|
1,451 | $9.1B |
|
Q3 2025 13F
Filed Oct 31, 2025
|
1,318 | $8.6B |
|
Q2 2025 13F
Filed Jul 30, 2025
|
1,294 | $8.0B |
|
Q1 2025 13F
Filed May 2, 2025
|
1,277 | $7.1B |
|
Q4 2024 13F
Filed Feb 6, 2025
|
1,339 | $7.3B |
|
Q3 2024 13F
Filed Nov 6, 2024
|
1,210 | $7.3B |
|
Q2 2024 13F
Filed Aug 5, 2024
|
1,236 | $6.9B |
|
Q1 2024 13F
Filed May 10, 2024
|
995 | $6.7B |
|
Q4 2023 13F
Filed Feb 6, 2024
|
1,011 | $6.4B |
|
Q3 2023 13F
Filed Nov 2, 2023
|
1,150 | $5.7B |
|
Q2 2023 13F
Filed Aug 4, 2023
|
1,119 | $5.9B |
|
Q1 2023 13F
Filed May 5, 2023
|
1,197 | $5.5B |
|
Q4 2022 13F
Filed Feb 13, 2023
|
1,106 | $5.2B |
|
Q3 2022 13F
Filed Nov 7, 2022
|
1,068 | $4.4B |
|
Q2 2022 13F
Filed Aug 5, 2022
|
1,017 | $4.5B |
|
Q1 2022 13F
Filed May 9, 2022
|
1,068 | $5.1B |
|
Q4 2021 13F
Filed Feb 7, 2022
|
1,091 | $5.3B |
34 earlier quarters on file — choose one from the quarter menu above.
Top 20 holdings · Q3 2026
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | AAPL APPLE INC COM | $621.6M | 6.09% |
| 2 | MSFT MICROSOFT CORP COM | $461.7M | 4.52% |
| 3 | PVAL PUTNAM ETF TRUST FOCUSED LAR CAP | $459.3M | 4.5% |
| 4 | NVDA NVIDIA CORPORATION COM | $406.4M | 3.98% |
| 5 | VUG VANGUARD INDEX FDS MRNGSTR GRWT ETF | $371.5M | 3.64% |
| 6 | EMXC ISHARES INC MSCI EMRG CHN | $305.1M | 2.99% |
| 7 | AMZN AMAZON COM INC COM | $225.5M | 2.21% |
| 8 | GOOGL ALPHABET INC CAP STK CL A | $213.1M | 2.09% |
| 9 | EFA ISHARES TR MSCI EAFE ETF | $210.4M | 2.06% |
| 10 | AVGO BROADCOM INC COM | $192.2M | 1.88% |
| 11 | VB VANGUARD INDEX FDS MRNGSTR SML CAP | $174.2M | 1.71% |
| 12 | GOOG ALPHABET INC CAP STK CL C | $166.9M | 1.63% |
| 13 | IWP ISHARES TR RUS MD CP GR ETF | $160.6M | 1.57% |
| 14 | IWF ISHARES TR RUS 1000 GRW ETF | $149.3M | 1.46% |
| 15 | META META PLATFORMS INC CL A | $147.4M | 1.44% |
| 16 | SPY STATE STR SPDR S&P 500 ETF T TR UNIT | $143.2M | 1.4% |
| 17 | VO VANGUARD INDEX FDS MRNGSTR MID CAP | $128.1M | 1.25% |
| 18 | V VISA INC COM CL A | $121.5M | 1.19% |
| 19 | IWLG NYLIM ACTIVE ETF TR WINSLOW LAR CAP | $119.0M | 1.16% |
| 20 | LLY ELI LILLY & CO COM | $114.1M | 1.12% |
Values as reported on the Q3 2026 Form 13F. Every position is in the holdings table below.