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

SecurityCFR / Cullen/Frost Bankers, Inc.
InstitutionFranklin Resources Inc
Latest Disclosed Ownership71,132 shares
Latest Disclosed Value $ 9,750,775
Franklin Resources Inc reports 49.41% increase in ownership of CFR / Cullen/Frost Bankers, Inc.

On May 13, 2026 - Franklin Resources Inc filed a 13F-HR form disclosing ownership of 71,132 shares of Cullen/Frost Bankers, Inc. (US:CFR) valued at $9,750,775 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 11, 2026 disclosing 47,608 shares of Cullen/Frost Bankers, Inc.. This represents a change in shares of 49.41% during the quarter. The current value of the position is $9,551,605 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)
2026-05-13 2026-03-31 13F CULLEN FROST BANKERS COM 229899109 71,132 23,524 49.41 9,751 61.75 0.0024
2026-02-11 2025-12-31 13F CULLEN FROST BANKERS COM 229899109 47,608 -1,411 -2.88 6,029 -2.99 0.0015
2025-11-13 2025-09-30 13F CULLEN FROST BANKERS COM 229899109 49,019 -5,291 -9.74 6,214 -10.99 0.0015
2025-08-12 2025-06-30 13F CULLEN FROST BANKERS COM 229899109 54,310 41,553 325.73 6,981 337.13 0.0019
2025-05-13 2025-03-31 13F CULLEN FROST BANKERS COM 229899109 12,757 2,737 27.32 1,597 18.74 0.0005
2025-02-12 2024-12-31 13F CULLEN FROST BANKERS COM 229899109 10,020 2,513 33.48 1,345 49.44 0.0004
2024-11-27 2024-09-30 13F/A-1 CULLEN FROST BANKERS COM 229899109 7,507 4,704 167.82 901 216.90 0.0003
2024-11-12 2024-09-30 13F CULLEN FROST BANKERS COM 229899109 7,507 4,704 901 0.0000
2024-08-14 2024-06-30 13F CULLEN FROST BANKERS COM 229899109 2,803 32 1.15 285 -8.68 0.0001
2024-05-13 2024-03-31 13F CULLEN FROST BANKERS COM 229899109 2,771 -61 -2.15 312 1.30 0.0001
2024-02-09 2023-12-31 13F CULLEN FROST BANKERS COM 229899109 2,832 5 0.18 307 19.46 0.0001
2023-11-13 2023-09-30 13F CULLEN FROST BANKERS COM 229899109 2,827 -52 -1.81 258 -16.83 0.0001
2023-08-11 2023-06-30 13F CULLEN FROST BANKERS COM 229899109 2,879 -19 -0.66 310 1.31 0.0001
2023-05-12 2023-03-31 13F CULLEN FROST BANKERS COM 229899109 2,898 -2,906 -50.07 305 -60.65 0.0002
2023-02-10 2022-12-31 13F CULLEN FROST BANKERS COM 229899109 5,804 -56 -0.96 776 0.00 0.0004
2022-11-14 2022-09-30 13F CULLEN FROST BANKERS COM 229899109 5,860 -196 -3.24 775 9.93 0.0004
2022-08-11 2022-06-30 13F CULLEN FROST BANKERS COM 229899109 6,056 198 3.38 705 -12.96 0.0003
2022-05-13 2022-03-31 13F CULLEN FROST BANKERS COM 229899109 5,858 11 0.19 810 9.91 0.0003
2022-02-11 2021-12-31 13F CULLEN FROST BANKERS COM 229899109 5,847 -14 -0.24 737 6.04 0.0003
2021-11-12 2021-09-30 13F CULLEN FROST BANKERS COM 229899109 5,861 -150 -2.50 695 3.27 0.0003
2021-08-13 2021-06-30 13F CULLEN FROST BANKERS COM 229899109 6,011 -20 -0.33 673 2.59 0.0003
2021-05-13 2021-03-31 13F CULLEN FROST BANKERS COM 229899109 6,031 -631 -9.47 656 12.91 0.0003
2021-02-10 2020-12-31 13F CULLEN FROST BANKERS COM 229899109 6,662 88 1.34 581 38.33 0.0002
2020-11-12 2020-09-30 13F CULLEN FROST BANKERS COM 229899109 6,574 146 2.27 420 -8.89 0.0002
2020-08-13 2020-06-30 13F CULLEN FROST BANKERS COM 229899109 6,428 5 0.08 461 28.77 0.0002
2020-05-13 2020-03-31 13F CULLEN FROST BANKERS COM 229899109 6,423 115 1.82 358 -41.98 0.0002
2020-03-11 2019-12-31 13F/A-1 CULLEN FROST BANKERS COM 229899109 6,308 0 0.00 617 10.38 0.0003
2020-02-12 2019-12-31 13F CULLEN FROST BANKERS COM 229899109 6,308 0 617 77.9355
2019-11-14 2019-09-30 13F CULLEN FROST BANKERS COM 229899109 6,308 -1,280 -16.87 559 -21.38 0.0003
2019-08-14 2019-06-30 13F CULLEN FROST BANKERS COM 229899109 7,588 0 0.00 711 -3.53 0.0004
2019-05-15 2019-03-31 13F/A-1 CULLEN FROST BANKERS COM 229899109 7,588 -808 -9.62 737 -0.14 0.0004
2019-05-14 2019-03-31 13F CULLEN FROST BANKERS COM 229899109 7,588 -808 737
2019-02-12 2018-12-31 13F CULLEN FROST BANKERS COM 229899109 8,396 0 0.00 738 -15.85 0.0004
2018-11-13 2018-09-30 13F CULLEN FROST BANKERS COM 229899109 8,396 1,280 17.99 877 13.90 0.0004
2018-08-14 2018-06-30 13F CULLEN FROST BANKERS COM 229899109 7,116 0 0.00 770 1.99 0.0004
2018-05-10 2018-03-31 13F CULLEN FROST BANKERS COM 229899109 7,116 -330 -4.43 755 7.09 0.0004
2018-02-14 2017-12-31 13F CULLEN FROST BANKERS COM 229899109 7,446 0 0.00 705 -0.28 0.0003
2017-11-13 2017-09-30 13F CULLEN FROST BANKERS COM 229899109 7,446 0 0.00 707 1.14 0.0003
2017-08-10 2017-06-30 13F CULLEN FROST BANKERS COM 229899109 7,446 0 0.00 699 5.59 0.0003
2017-05-12 2017-03-31 13F CULLEN FROST BANKERS COM 229899109 7,446 0 0.00 662 0.76 0.0003
2017-02-14 2016-12-31 13F CULLEN FROST BANKERS COM 229899109 7,446 0 0.00 657 22.57 0.0003
2016-11-14 2016-09-30 13F CULLEN FROST BANKERS COM 229899109 7,446 0 0.00 536 12.84 0.0003
2016-08-11 2016-06-30 13F CULLEN FROST BANKERS COM 229899109 7,446 -3,937 -34.59 475 -24.24 0.0003
2016-05-10 2016-03-31 13F CULLEN FROST BANKERS COM 229899109 11,383 0 0.00 627 -8.20 0.0003
2016-04-27 2015-12-31 13F/A-1 CULLEN FROST BANKERS COM 229899109 11,383 0 0.00 683 -5.66 0.0003
2016-02-12 2015-12-31 13F CULLEN FROST BANKERS COM 229899109 11,383 683
2015-11-10 2015-09-30 13F CULLEN FROST BANKERS COM 229899109 11,383 2,840 33.24 724 7.90 0.0004
2015-08-12 2015-06-30 13F CULLEN FROST BANKERS COM 229899109 8,543 2,575 43.15 671 62.86 0.0003
2015-05-14 2015-03-31 13F CULLEN FROST BANKERS COM 229899109 5,968 0 0.00 412 -2.37 0.0002
2015-02-10 2014-12-31 13F CULLEN FROST BANKERS COM 229899109 5,968 -32 -0.53 422 -8.06 0.0002
2014-11-12 2014-09-30 13F CULLEN FROST BANKERS COM 229899109 6,000 0 0.00 459 -3.77 0.0002
2014-08-12 2014-06-30 13F CULLEN FROST BANKERS COM 229899109 6,000 0 0.00 477 2.58 0.0002
2014-05-13 2014-03-31 13F CULLEN FROST BANKERS COM 229899109 6,000 0 0.00 465 4.03 0.0002
2014-02-12 2013-12-31 13F CULLEN FROST BANKERS COM 229899109 6,000 0 0.00 447 5.67 0.0002
2013-11-14 2013-09-30 13F CULLEN FROST BANKERS COM 229899109 6,000 0 0.00 423 5.49 0.0002
2013-08-09 2013-06-30 13F CULLEN FROST BANKERS COM 229899109 6,000 6,000 401 0.0002
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.