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

SecurityCFR / Cullen/Frost Bankers, Inc.
InstitutionIFP Advisors, Inc
Latest Disclosed Ownership2,176 shares
Latest Disclosed Value $ 298,286
IFP Advisors, Inc reports 0.37% increase in ownership of CFR / Cullen/Frost Bankers, Inc.

On April 13, 2026 - IFP Advisors, Inc filed a 13F-HR form disclosing ownership of 2,176 shares of Cullen/Frost Bankers, Inc. (US:CFR) valued at $298,286 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 6, 2026 disclosing 2,168 shares of Cullen/Frost Bankers, Inc.. This represents a change in shares of 0.37% during the quarter. The current value of the position is $292,193 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)
2026-04-13 2026-03-31 13F CULLEN FROST BANKERS cs 229899109 2,176 8 0.37 298 8.76 0.0062
2026-02-06 2025-12-31 13F CULLEN FROST BANKERS cs 229899109 2,168 0 0.00 275 0.00 0.0062
2026-02-06 2025-09-30 13F/A-1 CULLEN FROST BANKERS cs 229899109 2,168 1,004 86.25 275 23.98 0.0071
2025-12-02 2025-09-30 13F CULLEN FROST BANKERS cs 229899109 2,001 837 296 0.0076
2025-07-24 2025-06-30 13F CULLEN FROST BANKERS cs 229899109 1,164 -264 -18.49 221 23.46 0.0063
2025-05-05 2025-03-31 13F CULLEN FROST BANKERS cs 229899109 1,428 0 0.00 180 -6.77 0.0055
2025-02-04 2024-12-31 13F CULLEN FROST BANKERS cs 229899109 1,428 -7 -0.49 193 20.00 0.0063
2025-02-04 2024-09-30 13F CULLEN FROST BANKERS cs 229899109 1,435 0 0.00 161 10.34 0.0058
2024-07-30 2024-06-30 13F CULLEN FROST BANKERS cs 229899109 1,435 17 1.20 146 -8.81 0.0058
2024-07-30 2024-03-31 13F CULLEN FROST BANKERS cs 229899109 1,418 -14 -0.98 160 2.58 0.0070
2024-01-09 2023-12-31 13F CULLEN FROST BANKERS cs 229899109 1,432 0 0.00 155 19.23 0.0073
2023-10-12 2023-09-30 13F CULLEN FROST BANKERS cs 229899109 1,432 1,348 1,604.76 131 1,344.44 0.0059
2023-08-14 2023-06-30 13F/A-1 CULLEN FROST BANKERS cs 229899109 84 -29 -25.66 9 28.57 0.0004
2023-08-04 2023-06-30 13F CULLEN FROST BANKERS cs 229899109 84 -29 6 0.0003
2023-04-18 2023-03-31 13F CULLEN FROST BANKERS cs 229899109 113 -478 -80.88 7 0.0003
2023-02-07 2022-12-31 13F CULLEN FROST BANKERS cs 229899109 591 177 42.75 0 -100.00 0.0012
2022-11-08 2022-09-30 13F CULLEN FROST BANKERS cs 229899109 414 46 12.50 30 15.38 0.0008
2022-09-06 2022-06-30 13F/A-1 CULLEN FROST BANKERS cs 229899109 368 0 0.00 26 0.00 0.0008
2022-09-06 2022-03-31 13F/A-1 CULLEN FROST BANKERS cs 229899109 368 288 360.00 26 160.00 0.0008
2022-08-08 2022-03-31 13F CULLEN FROST BANKERS INC COM Stock 229899109 80 0 5 0.0001
2022-01-12 2021-12-31 13F CULLEN FROST BANKERS INC COM Stock 229899109 80 0 0.00 10 11.11 0.0002
2021-10-06 2021-09-30 13F CULLEN FROST BANKERS INC COM Stock 229899109 80 0 0.00 9 0.00 0.0002
2021-07-13 2021-06-30 13F CULLEN FROST BANKERS INC COM Stock 229899109 80 0 0.00 9 0.00 0.0002
2021-04-30 2021-03-31 13F CULLEN FROST BANKERS INC COM Stock 229899109 80 0 0.00 9 28.57 0.0002
2021-01-25 2020-12-31 13F CULLEN FROST BANKERS INC COM Stock 229899109 80 -35 -30.43 7 0.00 0.0003
2020-10-29 2020-09-30 13F CULLEN FROST BANKERS INC COM Stock 229899109 115 35 43.75 7 16.67 0.0004
2020-08-05 2020-06-30 13F CULLEN FROST BANKERS INC COM Stock 229899109 80 -9 -10.11 6 0.00 0.0005
2020-05-12 2020-03-31 13F CULLEN FROST BANKERS INC COM Stock 229899109 89 9 11.25 6 -25.00 0.0006
2020-01-17 2019-12-31 13F CULLEN FROST BANKERS INC COM Stock 229899109 80 0 0.00 8 14.29 0.0006
2019-11-07 2019-09-30 13F CULLEN FROST BANKERS INC COM Stock 229899109 80 -120 -60.00 7 40.00 0.0005
2019-05-15 2019-03-31 13F CULLEN FROST BANKERS INCNON CUML PERPETUAL PFDSER A 5.375 Convertible Preferred 229899208 200 -161 -44.60 5 -83.87 0.0007
2019-05-15 2019-03-31 13F CULLEN FROST BANKERS Stock 229899109 308 -53 30 0.0041
2019-06-03 2018-12-31 13F/A-10 CULLEN FROST BANKERSINC Stock 229899109 361 -250 -40.92 31 -51.56 0.0019
2019-01-23 2018-12-31 13F CULLEN FROST BANKERSINC Stock 229899109 361 -250 31 0.0019
2019-06-03 2018-09-30 13F/A-9 CULLEN FROST BANKERSINC Stock 229899109 611 1 0.16 64 -3.03 0.0026
2018-10-25 2018-09-30 13F CULLEN FROST BANKERSINC Stock 229899109 611 1 64 0.0026
2019-06-03 2018-06-30 13F/A-8 CULLEN FROST BANKERSINC Stock 229899109 610 337 123.44 66 153.85 0.0028
2018-08-07 2018-06-30 13F CULLEN FROST BANKERSINC Stock 229899109 610 310 66
2019-06-03 2018-03-31 13F/A-7 CULLEN FROST BANKERS INC COM Stock 229899109 273 0 0.00 26 0.00 0.0012
2018-05-09 2018-03-31 13F CULLEN FROST BANKERSINC Stock 229899109 300 27 32
2019-06-03 2017-12-31 13F/A-6 CULLEN FROST BANKERS INC COM Stock 229899109 273 -205 -42.89 26 -42.22 0.0012
2018-01-24 2017-12-31 13F CULLEN FROST BANKERS INC COM Stock 229899109 273 -205 26
2017-10-30 2017-09-30 13F CULLEN FROST BANKERS INC COM Stock 229899109 478 0 0.00 45 0.00 0.0018
2019-06-03 2017-06-30 13F/A-5 CULLEN FROST BANKERS INC COM Stock 229899109 478 0 0.00 45 4.65 0.0019
2017-07-31 2017-06-30 13F CULLEN FROST BANKERS INC COM Stock 229899109 478 0 45
2019-06-03 2017-03-31 13F/A-4 CULLEN FROST BANKERS INC COM Stock 229899109 478 -101 -17.44 43 -15.69 0.0019
2017-04-26 2017-03-31 13F CULLEN FROST BANKERS INC COM Stock 229899109 478 -101 43
2019-06-03 2016-12-31 13F/A-3 CULLEN FROST BANKERS INC COM Stock 229899109 579 -203 -25.96 51 -8.93 0.0025
2017-02-14 2016-12-31 13F CULLEN FROST BANKERS INC COM Stock 229899109 579 -203 51
2016-11-04 2016-09-30 13F CULLEN FROST BANKERS INC COM Stock 229899109 782 251 47.27 56 64.71 0.0029
2019-06-03 2016-06-30 13F/A-2 CULLEN FROST BANKERS INC COM Stock 229899109 531 331 165.50 34 580.00 0.0019
2016-08-22 2016-06-30 13F CULLEN FROST BANKERS INC COM Stock 229899109 531 331 34
2019-06-03 2016-03-31 13F/A-1 CULLEN FROST BANKERS INCNON CUML PERPETUAL PFDSER A 5.375 Convertible Preferred 229899208 200 -495 -71.22 5 -88.10 0.0007
2019-06-03 2016-03-31 13F/A-1 CULLEN FROST BANKERS Stock 229899109 308 -387 30 0.0041
2016-05-02 2016-03-31 13F CULLEN FROST BANKERS INC COM Stock 229899109 308 -387 17
2016-02-11 2015-12-31 13F CULLEN FROST BANKERS INC COM Stock 229899109 695 695 42 0.0028
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.