13FPulse
CF

CFR CULLEN/FROST BANKERS INC

2026Q2 · CUSIP 229899109 · Sector: Financials

Piling in

Net holder growth ranks near the top of the market

Funds that own it
557
Institutions that reported holding it to the SEC
Net increase in holders
+21
Last quarter 536 → now 557
How unusual is that
Top 20%
Stronger buying than 84% of US stocks
What the filings say, in one paragraph

557 funds held CFR at the end of 2026Q2, up 21 from the quarter before. That is stronger buying than 83.9% of US stocks — among the most piled-into names this quarter. On the business itself, revenue over the last 12 months was $2.3B(YoY +7.3%), the P/E is 15.3x, return on equity is 14.8%. CFR has had 19 buying rushes in its history, and the price moved +1.7% on average over the six months after (that is the raw price move, not how much it beat the market by). It sits in the Financials sector.

How many funds owned it, quarter by quarter

Bars = net change in institutional holders, positive (green) or negative (red). Line = total institutional holders.

2013Q3: holders=269 2013Q4: holders=282 2014Q1: holders=281 2014Q2: holders=275 2014Q3: holders=283 2014Q4: holders=315 2015Q1: holders=286 2015Q2: holders=274 2015Q3: holders=283 2015Q4: holders=302 2016Q1: holders=279 2016Q2: holders=279 2016Q3: holders=281 2016Q4: holders=326 2017Q1: holders=323 2017Q2: holders=326 2017Q3: holders=299 2017Q4: holders=340 2018Q1: holders=328 2018Q2: holders=372 2018Q3: holders=356 2018Q4: holders=345 2019Q1: holders=350 2019Q2: holders=341 2019Q3: holders=333 2019Q4: holders=323 2020Q1: holders=290 2020Q2: holders=288 2020Q3: holders=313 2020Q4: holders=319 2021Q1: holders=318 2021Q2: holders=327 2021Q3: holders=331 2021Q4: holders=372 2022Q1: holders=384 2022Q2: holders=405 2022Q3: holders=415 2022Q4: holders=454 2023Q1: holders=412 2023Q2: holders=371 2023Q3: holders=381 2023Q4: holders=407 2024Q1: holders=411 2024Q2: holders=399 2024Q3: holders=439 2024Q4: holders=461 2025Q1: holders=483 2025Q2: holders=482 2025Q3: holders=484 2025Q4: holders=525 2026Q1: holders=536 2026Q2: holders=557 -45 -22.5 +0 +22.5 +45 242414585 13Q315Q116Q318Q119Q321Q122Q324Q125Q326Q2 Net change in holders (bars) Total funds holding (line)

What happened after each past buying rush 19 times in its history

Quarter of the rush How unusual then Price, next 3 months Price, next 6 months
2026Q2 Top 20%
2025Q4 Top 20% -2.9%
2025Q1 Top 10% -3.9% -7.4%
2024Q3 Top 10% +2.0% -7.0%
2023Q3 Top 20% +10.7% +8.5%
2022Q4 Top 10% -19.9% -23.9%
2022Q3 Top 20% -8.7% -29.1%
2022Q2 Top 10% +5.5% -5.8%

These are the raw price moves, not how much it beat the market by. Compare them against the market over the same months — in a strong bull market almost everything is up.

Show all the numbers (large funds, value held, options…) ▾
Of them, large funds
219
Change in large funds
+20
Total value they hold
$8.8B
Funds buying for the first time
86
Funds that sold out entirely
65
Price change that quarter
+18.2%
Funds holding puts (bearish)
2
Funds holding calls (bullish)
2

These are for people who want to dig. Skip them if they do not mean anything to you — the three numbers above are enough.

8,697 institutions have filed for this quarter. 13F permits late filing and a small number arrive in the weeks after the deadline, so the holder counts and changes below may tick up.

Fundamentals

PE (TTM)
15.3
EPS (TTM)
$10.58
EPS YoY
+13.9%
Revenue (TTM)
$2.3B
Revenue YoY
+7.3%
Net margin
29.7%
ROE
14.8%
Debt ratio
91.4%
FCF (TTM)
$541M
Dividend (TTM)
$4.03
Quarterly Revenue & EPS
2022-09-30: EPS 2.59 2022-12-31: EPS 2.91 2023-03-31: EPS 2.70 2023-06-30: EPS 2.47 2023-09-30: EPS 2.38 2023-12-31: EPS 1.55 2024-03-31: EPS 2.06 2024-06-30: EPS 2.21 2024-09-30: EPS 2.24 2024-12-31: EPS 2.36 2025-03-31: EPS 2.30 2025-06-30: EPS 2.39 2025-09-30: EPS 2.67 2025-12-31: EPS 2.56 2026-03-31: EPS 2.65 2026-06-30: EPS 2.70 0M 290M 581M $M 0.00 1.60 3.20 2022202320242025202606/26 Revenue EPS

Quarterly figures, revenue up to 10 years back; EPS split-adjusted, early quarters hidden when not calibrable

P/E (TTM) over time
4Y median 13 7 12 17 2023202420252026

P/E = close around day 47 after quarter-end ÷ TTM EPS then; this is a consistent valuation date, not the company’s actual filing date; loss quarters hidden

Quarterly free cash flow
-337M57M450M 20162017201820192020202120222023202420252026
Latest quarter $199M (2026-03-31)

FCF = operating cash flow − capex, computed from SEC XBRL; banks/insurers have no standard cash-flow structure and are hidden

As of 2026-06-30 · SEC filings (XBRL)

Email me the next update

2026 Q3 holdings are due 2026-11-16. We will email you when the refreshed lists are live.