Cullen/Frost Bankers

CFR • NYSE

Cullen/Frost Bankers is a banks - regional company in the financial services sector on NYSE, led by Jerry Salinas, with a market cap of $8.3B. As of Q3 2025, 86% of shares are held by 467 institutional investors, with VANGUARD GROUP INC as the largest holder at 10.09%.

Chief Executive OfficerJerry Salinas

Market Cap$8.3B

Banks - Regional

Financial Services

Employees5.5K

Websitefrostbank.com

Country

United States of America

Overview

Overview of institutional ownership in CFR as of Q3 2025 with a market cap of $8.2B

All Institutions

Institutions: 467
Value Held: $7.0B
Shares Held: 55.6M
Avg Position: $15.1M
Median Position: $783.4K

Hedge Funds

Hedge Funds: 32
Value Held: $290.4M
Shares Held: 2.3M
Avg Position: $9.1M
Median Position: $3.5M

Ownership Breakdown

Institutional (non-HF)

82.85%

$6.8B

Hedge Funds

3.56%

$290.4M

Retail & Other

13.59%

$1.1B

Based on market cap of $8.2B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in CFR as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$822.8M 0.01% of portfolio	10.09% 6.5M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
B BlackRock, Inc. Institution	-	$785.5M 0.01% of portfolio	9.63% 6.2M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
Aristotle Capital Management, LLC Long Only Manager	Howard Roy Gleicher CEO	$669.4M 1.41% of portfolio	8.21% 5.3M shares	Q2 2015 Held for 10y 5m	$47.4B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$427.7M 0.01% of portfolio	5.24% 3.4M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
C Champlain Investment Partners, LLC Long Only Manager	Judith Wilkinson O'Connell CEO	$214.2M 1.62% of portfolio	2.63% 1.7M shares	Q1 2013 Held for 12y 8m	$13.3B
N Neuberger Berman Group LLC Institution	-	$179.9M 0.13% of portfolio	2.21% 1.4M shares	≤ Q2 2013 Held for 12y 5m+	$136.94B
KING LUTHER CAPITAL MANAGEMENT CORP Long Only Manager	John Luther King CEO	$171.7M 0.71% of portfolio	2.11% 1.4M shares	≤ Q2 2013 Held for 12y 5m+	$24.3B
FMR LLC Institution	-	$167.0M 0.01% of portfolio	2.05% 1.3M shares	Q1 2016 Held for 9y 8m	$1.92T
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$153.9M 0.01% of portfolio	1.89% 1.2M shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$150.5M 0.03% of portfolio	1.85% 1.2M shares	≤ Q2 2013 Held for 12y 5m+	$466.32B

Net Capital Flow

Institutional buying and selling activity for CFR in Q3 2025

Traded: +$296.6M
Buyers: 217
Sellers: 198
Total Bought: +$519.3M
Total Sold: −$222.7M
Avg Position: $13.8M

Biggest Buyers

Institution	Net Bought	Current Position
WESTWOOD HOLDINGS GROUP INC Institution	+$70.5M +556.5K shares	$126.3M 996.4K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$45.2M +356.4K shares	$47.4M 374.0K shares
F Fiera Capital Corp Institution	+$29.8M +234.8K shares	$29.8M 234.8K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$29.7M +234.2K shares	$29.7M 234.2K shares
UBS Group AG Institution	+$29.4M +232.1K shares	$44.3M 349.6K shares
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	+$24.8M +195.7K shares	$25.3M 199.7K shares
B BlackRock, Inc. Institution	+$23.5M +185.5K shares	$785.5M 6.2M shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	+$16.2M +127.9K shares	$16.2M 127.9K shares
D D. E. Shaw & Co., Inc. Institution	+$15.1M +119.4K shares	$17.1M 135.3K shares
I Impax Asset Management Group plc Long Only Manager	+$12.4M +98.0K shares	$116.7M 920.8K shares

Biggest Sellers

Institution	Net Sold	Current Position
Aristotle Capital Management, LLC Long Only Manager	−$40.3M −318.1K shares	$669.4M 5.3M shares
M MANUFACTURERES LIFE INSURANCE CO Institution	−$13.5M −106.6K shares	$80.7M 636.4K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$10.8M −84.8K shares	$18.3M 144.7K shares
JPMORGAN CHASE & CO Institution	−$10.7M −84.6K shares	$85.3M 672.8K shares
GOLDMAN SACHS GROUP INC Institution	−$9.2M −72.8K shares	$80.7M 636.8K shares
PRINCIPAL FINANCIAL GROUP INC Institution	−$9.1M −71.9K shares	$89.0M 702.0K shares
D DEPRINCE RACE & ZOLLO INC Long Only Manager	−$8.8M −69.3K shares	$26.1M 206.1K shares
STATE STREET CORP Institution	−$7.9M −62.7K shares	$427.7M 3.4M shares
A Atlantic Trust Group, LLC Institution	−$6.8M −53.8K shares	$4.5M 35.1K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$6.7M −53.2K shares	$13.7M 108.0K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited CFR in Q3 2025

New Positions: 18
New Value: $35.4M
Exited Positions: 44
Exited Value: $35.4M

New Positions

Institution	Position Value
F Fiera Capital Corp Institution	$29.8M 234.8K shares
Granite Investment Partners, LLC Long Only Manager	$2.0M 15.6K shares
INTECH INVESTMENT MANAGEMENT LLC Long Only Manager	$921.7K 7.3K shares
H HUSSMAN STRATEGIC ADVISORS, INC. Institution	$798.7K 6.3K shares
Jain Global LLC Hedge Fund•Multi-Strategy	$665.3K 5.2K shares
Point72 Ltd RIA/Wealth	$578.0K 4.6K shares
Catalytic Wealth RIA, LLC RIA/Wealth	$259.4K 2.0K shares
Round Rock Advisors, LLC RIA/Wealth	$249.0K 2.0K shares
Point72 Europe LLP Digital Asset Manager	$44.3K 349.0 shares
C Community Bank, N.A. Institution	$35.0K 276.0 shares

Exited Positions

Institution	Previous Position
Holocene Advisors, LP Hedge Fund•Long/Short	$5.8M 45.3K shares
T TEXAS PERMANENT SCHOOL FUND Institution	$4.0M 31.4K shares
T TWINBEECH CAPITAL LP Hedge Fund•Quant	$3.8M 29.7K shares
Graham Capital Management, L.P. Hedge Fund•Multi-Strategy	$2.9M 22.4K shares
P PRUDENTIAL PLC Institution	$1.7M 13.4K shares
R Rydar Equities, Inc. RIA/Wealth	$1.6M 12.7K shares
Mach-1 Financial Group, Inc. RIA/Wealth	$1.3M 10.0K shares
Mariner Wealth Advisors, LLC RIA/Wealth	$1.2M 9.5K shares
I INCEPTIONR LLC Hedge Fund•Quant	$1.2M 9.3K shares
Centiva Capital, LP Hedge Fund•Multi-Strategy	$1.1M 8.9K shares

Options Activity

Institutions with the largest Call and Put options positions in CFR as of Q3 2025

Call Positions: 4
Call Value: $4.6M
Put Positions: 5
Put Value: $3.3M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$2.4M 191.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.2M 96.0 contracts
W WOLVERINE TRADING, LLC Institution	$598.2K 47.0 contracts
J JANE STREET GROUP, LLC Institution	$380.3K 30.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$1.4M 111.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$722.6K 57.0 contracts
W WOLVERINE TRADING, LLC Institution	$496.4K 39.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$355.0K 28.0 contracts
J JANE STREET GROUP, LLC Institution	$329.6K 26.0 contracts

Most Committed Institutions

Institutions with CFR as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
KEMPNER CAPITAL MANAGEMENT INC. Long Only Manager	Vera Delynn Greene President	4.20% $4.4M	0.05% 34.4K shares	≤ Q2 2013 Held for 12y 5m+	$103.7M
Martin Capital Partners, LLC RIA/Wealth	Cameron King Martin President	3.68% $8.4M	0.10% 66.0K shares	Q4 2019 Held for 5y 11m	$227.4M
Greenfield Seitz Capital Management, LLC RIA/Wealth	Stuart Edwards Greenfield Managing Partner	2.20% $6.8M	0.08% 53.8K shares	Q4 2023 Held for 1y 11m	$310.2M
Polaris Capital Management, Inc. Long Only Manager	Bernard Robert Horn President	2.06% $31.4M	0.39% 247.9K shares	Q2 2023 Held for 2y 5m	$1.5B
G Glass Wealth Management Co LLC RIA/Wealth	David Dowling Hornberger President	1.89% $4.2M	0.05% 33.5K shares	Q1 2024 Held for 1y 8m	$224.3M
C Champlain Investment Partners, LLC Long Only Manager	Judith Wilkinson O'Connell CEO	1.62% $214.2M	2.63% 1.7M shares	Q1 2013 Held for 12y 8m	$13.3B
SPRUCEGROVE INVESTMENT MANAGEMENT LTD Long Only Manager	Arjun Nmn Kumar CEO	1.48% $14.4M	0.18% 113.6K shares	≤ Q2 2013 Held for 12y 5m+	$970.6M
Aristotle Capital Management, LLC Long Only Manager	Howard Roy Gleicher CEO	1.41% $669.4M	8.21% 5.3M shares	Q2 2015 Held for 10y 5m	$47.4B
ROWLAND & CO INVESTMENT COUNSEL/ADV RIA/Wealth	Janet Timmerman Miller Managing Partner	1.34% $6.8M	0.08% 53.7K shares	Q4 2014 Held for 10y 11m	$506.3M
L LAWSON KROEKER INVESTMENT MANAGEMENT INC/NE RIA/Wealth	Thomas Joseph Sudyka Director	1.30% $6.8M	0.08% 54.0K shares	Q2 2019 Held for 6y 5m	$528.2M

Hedge Fund Spotlight

Discover hedge funds investing in CFR

Aquatic Capital Management LLC

Hedge Fund • Quant

Portfolio ManagerJonathan Cullen Graham

Portfolio Value: $5.4B
Positions: 1,343
Last Reported: Q3 2025

Sector Allocation

Position in Cullen/Frost Bankers

Market Value: $3.1M
Shares Held: 24.4K
Portfolio Weight: 0.06%
Owned Since: 2021-Q4

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