CFR’s June-2025 13F Lists $7.98B AUM Across 1,298 Securities

Rhea-AI Filing Summary

Cullen/Frost Bankers, Inc. (CFR) filed a Form 13F-HR for the quarter ended 30 Jun 2025.

The filing is a full 13F Holdings Report, disclosing 1,298 equity positions with an aggregate market value of $7.98 billion (rounded). The parent reports on behalf of three affiliated managers: Frost Bank-FWA, Frost Investment Advisors, and Frost Investment Services. No amendment or restatement flags were marked.

The document was signed by Group Executive VP & General Counsel Coolidge E. Rhodes, Jr. on 29 Jul 2025, certifying the accuracy of the submission. Detailed position-level data are not included in the excerpt.

Insights

Portfolio Manager

TL;DR: Routine 13F; shows $7.98B AUM, no unusual disclosures—neutral for CFR stock.

With 1,298 positions and nearly $8 bn in reported fair value, Cullen/Frost’s asset mix appears diversified and stable. The lack of amendments or restatements suggests normal compliance. Because 13F data is backward-looking and does not reveal trading intentions, the filing holds limited market impact; its main value is benchmarking AUM growth versus prior periods, which is not provided here. Overall, the disclosure is informational rather than catalytic for the share price.

Regulatory Compliance Analyst

TL;DR: Filing meets SEC requirements; no red flags detected.

The cover page contains all mandatory elements: manager identity, quarter end, signature, and summary totals. Three other included managers are properly enumerated, and the form type box confirms a complete holdings report. Absence of amendment language indicates first-time submission for the period. From a compliance standpoint, the manager appears in good standing, implying minimal regulatory risk.

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F COVER PAGE

OMB APPROVAL

OMB Number:			3235-0006
Estimated average burden
hours per response:			23.8

Report for the Calendar Year or Quarter Ended: 06-30-2025

Check here if Amendment		Amendment Number:
This Amendment (Check only one.):		is a restatement.
		adds new holdings entries.

Institutional Investment Manager Filing this Report:
Name:	Cullen/Frost Bankers, Inc.
Address:	Post Office Box 1600
	San Antonio, TX 78296-1600
Form 13F File Number:	028-00183
CRD Number (if applicable):
SEC File Number (if applicable):

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

Person Signing this Report on Behalf of Reporting Manager:
Name:		Coolidge E. Rhodes, Jr.
Title:		Group Executive VP General Counsel and Corporate Secretary
Phone:		210-220-6970
Signature, Place, and Date of Signing:
Coolidge E. Rhodes, Jr.			San Antonio, TX	07-29-2025
[Signature]			[City, State]	[Date]

Report Type (Check only one.):
X	13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.)
	13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).)
	13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

Form 13F Summary Page
	Report Summary:
	Number of Other Included Managers:		3
	Form 13F Information Table Entry Total:		1,298
	Form 13F Information Table Value Total:		7,977,571,451
			(round to nearest dollar)

List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column headings and list entries.]
	No.	Name	Form 13F File No.	CRD No. (if applicable)	SEC File No. (if applicable)	CIK
	1	Frost Bank - FWA
	2	Frost Investment Advisors, LLC		000146148	801-68724
	3	Frost Investment Services, LLC		000286129	801-108754

FAQ

What period does Cullen/Frost Bankers 13F-HR cover?

The report covers the calendar quarter ended June 30, 2025.

How many positions are disclosed in CFR
9s Q2 2025 13F filing?

The filing lists 1,298 separate equity positions.

What is the total market value of Cullen/Frost19s reported holdings?

Aggregate fair-market value is $7.98 billion (rounded to the nearest dollar).

Does the filing include other managers?

Yes. Three affiliated managers are listed: Frost Bank-FWA, Frost Investment Advisors, and Frost Investment Services.

When was the 13F signed and by whom?

It was signed on July 29, 2025 by Coolidge E. Rhodes, Jr., Group Executive VP & General Counsel.