Cullen/Frost Bankers, Inc.
US ˙ NYSE ˙ US2298991090

SecurityCFR / Cullen/Frost Bankers, Inc.
InstitutionDimensional Fund Advisors Lp
Latest Disclosed Ownership1,530,772 shares
Latest Disclosed Value $ 209,833,479
Dimensional Fund Advisors Lp reports 18.30% increase in ownership of CFR / Cullen/Frost Bankers, Inc.

On May 7, 2026 - Dimensional Fund Advisors Lp filed a 13F-HR form disclosing ownership of 1,530,772 shares of Cullen/Frost Bankers, Inc. (US:CFR) valued at $209,838,226 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 12, 2026 disclosing 1,293,964 shares of Cullen/Frost Bankers, Inc.. This represents a change in shares of 18.30% during the quarter. The current value of the position is $205,552,064 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-07 2026-03-31 13F CULLEN FROST BANKERS COM 229899109 1,530,772 236,808 18.30 209,833 28.05 0.0094
2026-02-12 2025-12-31 13F CULLEN FROST BANKERS COM 229899109 1,293,964 106,558 8.97 163,862 8.86 0.0344
2025-11-12 2025-09-30 13F CULLEN FROST BANKERS COM 229899109 1,187,406 77,028 6.94 150,529 5.46 0.0323
2025-08-12 2025-06-30 13F CULLEN FROST BANKERS COM 229899109 1,110,378 53,084 5.02 142,733 7.83 0.0330
2025-05-13 2025-03-31 13F CULLEN FROST BANKERS COM 229899109 1,057,294 30,709 2.99 132,365 -3.96 0.0329
2025-02-13 2024-12-31 13F CULLEN FROST BANKERS COM 229899109 1,026,585 6,159 0.60 137,823 20.75 0.0331
2024-11-07 2024-09-30 13F CULLEN FROST BANKERS COM 229899109 1,020,426 67,328 7.06 114,141 17.85 0.0277
2024-08-09 2024-06-30 13F CULLEN FROST BANKERS COM 229899109 953,098 120,333 14.45 96,856 3.32 0.0253
2024-05-10 2024-03-31 13F CULLEN FROST BANKERS COM 229899109 832,765 45,166 5.73 93,744 9.70 0.0254
2024-02-07 2023-12-31 13F CULLEN FROST BANKERS COM 229899109 787,599 131,726 20.08 85,451 42.84 0.0250
2023-11-09 2023-09-30 13F CULLEN FROST BANKERS COM 229899109 655,873 108,813 19.89 59,822 1.69 0.0196
2023-08-09 2023-06-30 13F CULLEN FROST BANKERS COM 229899109 547,060 22,122 4.21 58,828 6.40 0.0187
2023-05-12 2023-03-31 13F CULLEN FROST BANKERS COM 229899109 524,938 10,886 2.12 55,293 81,211.76 0.0186
2023-02-09 2022-12-31 13F CULLEN FROST BANKERS COM 229899109 514,052 6,518 1.28 69 -99.90 0.0203
2022-11-10 2022-09-30 13F CULLEN FROST BANKERS COM 229899109 507,534 -47,209 -8.51 67,112 3.89 0.0258
2022-08-12 2022-06-30 13F CULLEN FROST BANKERS COM 229899109 554,743 -2,560 -0.46 64,598 -16.27 0.0232
2022-05-13 2022-03-31 13F CULLEN FROST BANKERS COM 229899109 557,303 -11,583 -2.04 77,147 7.57 0.0238
2022-02-09 2021-12-31 13F CULLEN FROST BANKERS COM 229899109 568,886 933 0.16 71,720 6.44 0.0217
2021-11-12 2021-09-30 13F CULLEN FROST BANKERS COM 229899109 567,953 2,029 0.36 67,379 6.31 0.0217
2021-08-12 2021-06-30 13F CULLEN FROST BANKERS COM 229899109 565,924 -62,917 -10.01 63,381 -7.33 0.0201
2021-05-14 2021-03-31 13F CULLEN FROST BANKERS COM 229899109 628,841 -43,142 -6.42 68,397 16.68 0.0226
2021-03-08 2020-12-31 13F/A-2 CULLEN FROST BANKERS COM 229899109 671,983 18,725 2.87 58,618 40.33 0.0212
2021-02-11 2020-12-31 13F CULLEN FROST BANKERS COM 229899109 671,983 18,725 58,618 21,169.7059
2020-11-12 2020-09-30 13F CULLEN FROST BANKERS COM 229899109 653,258 61,484 10.39 41,772 -5.50 0.0177
2020-08-13 2020-06-30 13F CULLEN FROST BANKERS COM 229899109 591,774 67,705 12.92 44,204 51.18 0.0194
2020-05-14 2020-03-31 13F CULLEN FROST BANKERS COM 229899109 524,069 28,255 5.70 29,239 -39.69 0.0152
2020-02-14 2019-12-31 13F CULLEN FROST BANKERS COM 229899109 495,814 -5,913 -1.18 48,482 9.13 0.0177
2019-11-12 2019-09-30 13F CULLEN FROST BANKERS COM 229899109 501,727 4,879 0.98 44,427 -4.53 0.0173
2019-08-13 2019-06-30 13F CULLEN FROST BANKERS COM 229899109 496,848 5,356 1.09 46,533 -2.47 0.0181
2019-08-12 2019-03-31 13F/A-2 CULLEN FROST BANKERS COM 229899109 491,492 11,189 2.33 47,711 12.96 0.0190
2019-05-10 2019-03-31 13F CULLEN FROST BANKERS COM 229899109 491,492 11,189 47,711
2019-02-26 2018-12-31 13F/A-1 CULLEN FROST BANKERS COM 229899109 480,303 13,728 2.94 42,237 -13.32 0.0191
2019-02-13 2018-12-31 13F CULLEN FROST BANKERS COM 229899109 480,303 13,728 42,237
2018-11-13 2018-09-30 13F CULLEN FROST BANKERS COM 229899109 466,575 9,859 2.16 48,729 -1.43 0.0185
2018-08-10 2018-06-30 13F CULLEN FROST BANKERS COM 229899109 456,716 -13,927 -2.96 49,437 -0.97 0.0197
2018-05-11 2018-03-31 13F CULLEN FROST BANKERS COM 229899109 470,643 -9,334 -1.94 49,921 9.88 0.0208
2018-02-12 2017-12-31 13F CULLEN FROST BANKERS COM 229899109 479,977 -9,174 -1.88 45,433 -2.15 0.0188
2017-11-13 2017-09-30 13F CULLEN FROST BANKERS COM 229899109 489,151 -833 -0.17 46,430 0.90 0.0203
2017-08-11 2017-06-30 13F CULLEN FROST BANKERS COM 229899109 489,984 -47,037 -8.76 46,016 -3.69 0.0212
2017-05-12 2017-03-31 13F CULLEN FROST BANKERS COM 229899109 537,021 12,482 2.38 47,779 3.25 0.0228
2017-02-09 2016-12-31 13F CULLEN FROST BANKERS COM 229899109 524,539 15,135 2.97 46,277 26.32 0.0231
2016-11-10 2016-09-30 13F CULLEN FROST BANKERS COM 229899109 509,404 46,894 10.14 36,636 24.31 0.0198
2016-08-09 2016-06-30 13F CULLEN FROST BANKERS COM 229899109 462,510 -830 -0.18 29,471 15.41 0.0170
2016-05-13 2016-03-31 13F CULLEN FROST BANKERS COM 229899109 463,340 23,836 5.42 25,537 -3.18 0.0153
2016-02-10 2015-12-31 13F CULLEN FROST BANKERS COM 229899109 439,504 21,982 5.26 26,375 -0.64 0.0164
2015-11-13 2015-09-30 13F CULLEN FROST BANKERS COM 229899109 417,522 40,427 10.72 26,546 -10.42 0.0174
2015-08-14 2015-06-30 13F CULLEN FROST BANKERS COM 229899109 377,095 12,510 3.43 29,634 17.66 0.0181
2015-05-14 2015-03-31 13F CULLEN FROST BANKERS COM 229899109 364,585 16,316 4.68 25,186 2.37 0.0159
2015-02-06 2014-12-31 13F CULLEN FROST BANKERS COM 229899109 348,269 33,959 10.80 24,603 2.30 0.0162
2014-11-13 2014-09-30 13F CULLEN FROST BANKERS COM 229899109 314,310 -5,524 -1.73 24,050 -5.31 0.0170
2014-08-08 2014-06-30 13F CULLEN FROST BANKERS COM 229899109 319,834 -2,509 -0.78 25,400 1.65 0.0177
2014-05-14 2014-03-31 13F CULLEN FROST BANKERS COM 229899109 322,343 -954 -0.30 24,988 3.85 0.0187
2014-02-12 2013-12-31 13F CULLEN FROST BANKERS COM 229899109 323,297 23,879 7.98 24,062 13.93 0.0188
2013-11-13 2013-09-30 13F CULLEN FROST BANKERS COM 229899109 299,418 18,824 6.71 21,120 12.72 0.0183
2013-08-15 2013-06-30 13F CULLEN FROST BANKERS COM 229899109 280,594 280,594 18,736 0.0176
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.