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

SecurityCFR / Cullen/Frost Bankers, Inc.
InstitutionSei Investments Co
Latest Disclosed Ownership504,646 shares
Latest Disclosed Value $ 63,903,536
Sei Investments Co reports 11.21% decrease in ownership of CFR / Cullen/Frost Bankers, Inc.

On February 13, 2026 - Sei Investments Co filed a 13F-HR form disclosing ownership of 504,646 shares of Cullen/Frost Bankers, Inc. (US:CFR) valued at $63,903,323 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 13, 2025 disclosing 568,358 shares of Cullen/Frost Bankers, Inc.. This represents a change in shares of -11.21% during the quarter. The current value of the position is $67,763,865 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)
2026-02-13 2025-12-31 13F CULLEN FROST BANKERS COM 229899109 504,646 -63,712 -11.21 63,904 -11.31 0.0631
2025-11-13 2025-09-30 13F CULLEN FROST BANKERS COM 229899109 568,358 20,864 3.81 72,050 2.38 0.0775
2025-08-14 2025-06-30 13F CULLEN FROST BANKERS COM 229899109 547,494 23,654 4.52 70,375 7.31 0.0816
2025-05-14 2025-03-31 13F/A-1 CULLEN FROST BANKERS COM 229899109 523,840 10,407 2.03 65,585 -4.85 0.0844
2025-05-13 2025-03-31 13F CULLEN FROST BANKERS COM 229899109 513,330 -103 68,880 0.0749
2025-02-11 2024-12-31 13F CULLEN FROST BANKERS COM 229899109 513,433 -20,056 -3.76 68,928 15.51 0.0885
2024-11-12 2024-09-30 13F CULLEN FROST BANKERS COM 229899109 533,489 103,449 24.06 59,676 36.54 0.0775
2024-08-13 2024-06-30 13F CULLEN FROST BANKERS COM 229899109 430,040 52,120 13.79 43,705 2.73 0.0619
2024-05-07 2024-03-31 13F CULLEN FROST BANKERS COM 229899109 377,920 51,808 15.89 42,543 20.25 0.0623
2024-02-14 2023-12-31 13F CULLEN FROST BANKERS COM 229899109 326,112 11,455 3.64 35,380 23.28 0.0568
2023-11-14 2023-09-30 13F CULLEN FROST BANKERS COM 229899109 314,657 17,141 5.76 28,700 -10.29 0.0516
2023-08-11 2023-06-30 13F CULLEN FROST BANKERS COM 229899109 297,516 2,331 0.79 31,992 2.89 0.0558
2023-05-12 2023-03-31 13F CULLEN FROST BANKERS COM 229899109 295,185 5,636 1.95 31,095 -19.68 0.0578
2023-02-10 2022-12-31 13F CULLEN FROST BANKERS COM 229899109 289,549 2,284 0.80 38,713 1.92 0.0860
2022-11-14 2022-09-30 13F CULLEN FROST BANKERS COM 229899109 287,265 508 0.18 37,982 13.78 0.0847
2022-08-15 2022-06-30 13F CULLEN FROST BANKERS COM 229899109 286,757 -104,865 -26.78 33,381 -38.42 0.0721
2022-05-13 2022-03-31 13F CULLEN FROST BANKERS COM 229899109 391,622 -211,885 -35.11 54,208 -28.77 0.1090
2022-02-14 2021-12-31 13F CULLEN FROST BANKERS COM 229899109 603,507 -61,730 -9.28 76,103 -3.51 0.1428
2021-11-12 2021-09-30 13F CULLEN FROST BANKERS COM 229899109 665,237 427,071 179.32 78,868 196.05 0.1655
2021-08-06 2021-06-30 13F CULLEN FROST BANKERS COM 229899109 238,166 -7,725 -3.14 26,640 0.02 0.0591
2021-05-12 2021-03-31 13F CULLEN FROST BANKERS COM 229899109 245,891 77,000 45.59 26,636 81.09 0.0671
2021-02-08 2020-12-31 13F CULLEN FROST BANKERS COM 229899109 168,891 -297 -0.18 14,709 36.55 0.0380
2020-12-04 2020-09-30 13F/A-1 CULLEN FROST BANKERS COM 229899109 169,188 770 0.46 10,772 -14.10 0.0312
2020-11-06 2020-09-30 13F CULLEN FROST BANKERS COM 229899109 173,027 4,609 11,018 26,528.8943
2020-08-17 2020-06-30 13F/A-1 CULLEN FROST BANKERS COM 229899109 168,418 21,033 14.27 12,540 53.28 0.0389
2020-08-11 2020-06-30 13F CULLEN FROST BANKERS COM 229899109 136,398 -10,987 13,119 35,585.9858
2020-05-14 2020-03-31 13F CULLEN FROST BANKERS COM 229899109 147,385 14,702 11.08 8,181 -36.65 0.0300
2020-02-06 2019-12-31 13F CULLEN FROST BANKERS COM 229899109 132,683 7,112 5.66 12,914 16.57 0.0385
2019-11-12 2019-09-30 13F CULLEN FROST BANKERS COM 229899109 125,571 6,238 5.23 11,078 -0.43 0.0283
2019-08-14 2019-06-30 13F CULLEN FROST BANKERS COM 229899109 119,333 7,023 6.25 11,126 2.55 0.0363
2019-05-15 2019-03-31 13F CULLEN FROST BANKERS COM 229899109 112,310 2,032 1.84 10,849 -5.10 0.0364
2019-02-13 2018-12-31 13F CULLEN FROST BANKERS COM 229899109 110,278 2,372 2.20 11,432 1.45 0.0407
2018-11-08 2018-09-30 13F CULLEN FROST BANKERS COM 229899109 107,906 16,140 17.59 11,269 13.46 0.0408
2018-08-03 2018-06-30 13F CULLEN FROST BANKERS COM 229899109 91,766 6,639 7.80 9,932 9.99 0.0338
2018-05-11 2018-03-31 13F CULLEN FROST BANKERS COM 229899109 85,127 -4,186 -4.69 9,030 6.81 0.0346
2018-02-08 2017-12-31 13F CULLEN FROST BANKERS COM 229899109 89,313 522 0.59 8,454 0.32 0.0294
2017-11-06 2017-09-30 13F CULLEN FROST BANKERS COM 229899109 88,791 5,461 6.55 8,427 7.69 0.0300
2017-07-31 2017-06-30 13F CULLEN FROST BANKERS COM 229899109 83,330 1,310 1.60 7,825 7.24 0.0312
2017-05-05 2017-03-31 13F CULLEN FROST BANKERS COM 229899109 82,020 16,232 24.67 7,297 25.72 0.0320
2017-02-02 2016-12-31 13F CULLEN FROST BANKERS COM 229899109 65,788 18,789 39.98 5,804 71.61 0.0281
2016-11-04 2016-09-30 13F CULLEN FROST BANKERS COM 229899109 46,999 1,512 3.32 3,382 16.66 0.0172
2016-08-11 2016-06-30 13F CULLEN FROST BANKERS COM 229899109 45,487 2,935 6.90 2,899 23.62 0.0174
2016-05-10 2016-03-31 13F/A-1 CULLEN FROST BANKERS COM 229899109 42,552 6,785 18.97 2,345 9.32 0.0146
2016-02-03 2015-12-31 13F CULLEN FROST BANKERS COM 229899109 35,767 4,204 13.32 2,145 6.88 0.0131
2015-11-02 2015-09-30 13F/A-1 CULLEN FROST BANKERS COM 229899109 31,563 9,744 44.66 2,007 17.09 0.0184
2015-10-30 2015-09-30 13F CULLEN FROST BANKERS COM 229899109 31,563 2,009
2015-08-07 2015-06-30 13F/A-1 CULLEN FROST BANKERS COM 229899109 21,819 344 1.60 1,714 15.42 0.0155
2015-08-04 2015-06-30 13F CULLEN FROST BANKERS COM 229899109 21,819 344 1,714 0.0155
2015-05-14 2015-03-31 13F/A-1 CULLEN FROST BANKERS COM 229899109 21,475 6,275 41.28 1,485 38.40 0.0129
2015-05-01 2015-03-31 13F CUBIST PHARMACEUTICALS NOTE 1.875% 9/0 229899109 21,475 1,485
2015-02-10 2014-12-31 13F CULLEN FROST BANKERS COM 229899109 15,200 15,200 1,073 0.0095
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.