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

SecurityCFR / Cullen/Frost Bankers, Inc.
InstitutionStifel Financial Corp
Latest Disclosed Ownership61,034 shares
Latest Disclosed Value $ 8,367,647
Stifel Financial Corp reports 3.13% decrease in ownership of CFR / Cullen/Frost Bankers, Inc.

On May 12, 2026 - Stifel Financial Corp filed a 13F-HR form disclosing ownership of 61,034 shares of Cullen/Frost Bankers, Inc. (US:CFR) valued at $8,366,541 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 63,005 shares of Cullen/Frost Bankers, Inc.. This represents a change in shares of -3.13% during the quarter. The current value of the position is $8,414,758 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)
2026-05-12 2026-03-31 13F CULLEN FROST BANKERS COM 229899109 61,034 -1,971 -3.13 8,368 4.88 0.0018
2026-02-13 2025-12-31 13F CULLEN FROST BANKERS COM 229899109 63,005 2,309 3.80 7,979 3.69 0.0072
2025-11-12 2025-09-30 13F CULLEN FROST BANKERS COM 229899109 60,696 7,424 13.94 7,694 12.37 0.0070
2025-08-14 2025-06-30 13F CULLEN FROST BANKERS COM 229899109 53,272 -1,245 -2.28 6,848 0.32 0.0067
2025-05-14 2025-03-31 13F CULLEN FROST BANKERS COM 229899109 54,517 1,910 3.63 6,825 -3.36 0.0073
2025-02-13 2024-12-31 13F CULLEN FROST BANKERS COM 229899109 52,607 3,133 6.33 7,062 27.61 0.0074
2024-11-14 2024-09-30 13F CULLEN FROST BANKERS COM 229899109 49,474 1,940 4.08 5,534 14.58 0.0058
2024-08-13 2024-06-30 13F CULLEN FROST BANKERS COM 229899109 47,534 6,025 14.51 4,831 3.38 0.0054
2024-05-14 2024-03-31 13F CULLEN FROST BANKERS COM 229899109 41,509 18,190 78.01 4,673 84.74 0.0053
2024-02-12 2023-12-31 13F CULLEN FROST BANKERS COM 229899109 23,319 -7,056 -23.23 2,530 -8.70 0.0032
2023-11-13 2023-09-30 13F CULLEN FROST BANKERS COM 229899109 30,375 7,313 31.71 2,771 11.74 0.0039
2023-08-14 2023-06-30 13F CULLEN FROST BANKERS COM 229899109 23,062 -6,722 -22.57 2,480 -20.98 0.0034
2023-05-12 2023-03-31 13F CULLEN FROST BANKERS COM 229899109 29,784 -51,694 -63.45 3,138 -71.20 0.0045
2023-02-13 2022-12-31 13F CULLEN FROST BANKERS COM 229899109 81,478 6,438 8.58 10,894 9.80 0.0164
2022-11-14 2022-09-30 13F CULLEN FROST BANKERS COM 229899109 75,040 -7,563 -9.16 9,921 3.13 0.0162
2022-08-15 2022-06-30 13F CULLEN FROST BANKERS COM 229899109 82,603 10,226 14.13 9,620 -3.96 0.0151
2022-05-13 2022-03-31 13F CULLEN FROST BANKERS COM 229899109 72,377 -42,991 -37.26 10,017 -31.13 0.0137
2022-02-14 2021-12-31 13F CULLEN FROST BANKERS COM 229899109 115,368 -3,312 -2.79 14,544 3.30 0.0192
2021-11-15 2021-09-30 13F CULLEN FROST BANKERS COM 229899109 118,680 48,648 69.47 14,079 79.49 0.0206
2021-08-13 2021-06-30 13F CULLEN FROST BANKERS COM 229899109 70,032 4,212 6.40 7,844 9.57 0.0117
2021-05-14 2021-03-31 13F CULLEN FROST BANKERS COM 229899109 65,820 -10,403 -13.65 7,159 7.67 0.0118
2021-02-12 2020-12-31 13F CULLEN FROST BANKERS COM 229899109 76,223 3,627 5.00 6,649 43.20 0.0119
2020-11-16 2020-09-30 13F CULLEN FROST BANKERS COM 229899109 72,596 4,535 6.66 4,643 -8.69 0.0096
2020-08-14 2020-06-30 13F CULLEN FROST BANKERS COM 229899109 68,061 -16,753 -19.75 5,085 6.00 0.0117
2020-05-14 2020-03-31 13F CULLEN FROST BANKERS COM 229899109 84,814 16,035 23.31 4,797 -28.32 0.0132
2020-02-13 2019-12-31 13F CULLEN FROST BANKERS COM 229899109 68,779 11,713 20.53 6,692 32.36 0.0139
2019-11-19 2019-09-30 13F/A-1 CULLEN FROST BANKERS COM 229899109 57,066 2,454 4.49 5,056 -0.78 0.0129
2019-11-13 2019-09-30 13F CULLEN FROST BANKERS COM 229899109 56,950 2,338 5,046 2,828.5359
2019-08-14 2019-06-30 13F CULLEN FROST BANKERS COM 229899109 54,612 10,443 23.64 5,096 19.09 0.0131
2019-05-14 2019-03-31 13F CULLEN FROST BANKERS COM 229899109 44,169 5,255 13.50 4,279 25.12 0.0121
2019-02-13 2018-12-31 13F CULLEN FROST BANKERS COM 229899109 38,914 -10,079 -20.57 3,420 -33.12 0.0111
2018-11-13 2018-09-30 13F CULLEN FROST BANKERS COM 229899109 48,993 -1,158 -2.31 5,114 -5.51 0.0147
2018-08-14 2018-06-30 13F CULLEN FROST BANKERS COM 229899109 50,151 -1,290 -2.51 5,412 -0.72 0.0166
2018-05-11 2018-03-31 13F CULLEN FROST BANKERS COM 229899109 51,441 -23 -0.04 5,451 11.52 0.0172
2018-02-14 2017-12-31 13F CULLEN FROST BANKERS COM 229899109 51,464 40 0.08 4,888 -0.12 0.0155
2017-11-13 2017-09-30 13F CULLEN FROST BANKERS COM 229899109 51,424 14,872 40.69 4,894 41.90 0.0170
2017-08-14 2017-06-30 13F CULLEN FROST BANKERS COM 229899109 36,552 -3,417 -8.55 3,449 -3.09 0.0128
2017-05-10 2017-03-31 13F CULLEN FROST BANKERS COM 229899109 39,969 -1,741 -4.17 3,559 -3.05 0.0138
2017-02-16 2016-12-31 13F CULLEN FROST BANKERS COM 229899109 41,710 -9,110 -17.93 3,671 0.25 0.0156
2016-11-15 2016-09-30 13F CULLEN FROST BANKERS COM 229899109 50,820 3,584 7.59 3,662 21.62 0.0165
2016-08-17 2016-06-30 13F CULLEN FROST BANKERS COM 229899109 47,236 3,105 7.04 3,011 23.81 0.0139
2016-05-16 2016-03-31 13F CULLEN FROST BANKERS COM 229899109 44,131 -2,735 -5.84 2,432 -13.51 0.0130
2016-03-21 2015-12-31 13F/A-2 CULLEN FROST BANKERS COM 229899109 46,866 -4,854 -9.39 2,812 -14.48 0.0146
2016-02-26 2015-12-31 13F/A-1 CULLEN FROST BANKERS COM 229899109 46,866 0 2,811 0.0147
2016-02-16 2015-12-31 13F CULLEN FROST BANKERS COM 229899109 46,767 2,910
2015-11-16 2015-09-30 13F CULLEN FROST BANKERS COM 229899109 51,720 5,068 10.86 3,288 -10.29 0.0185
2015-08-17 2015-06-30 13F/A-1 CULLEN FROST BANKERS COM 229899109 46,652 -3,822 -7.57 3,665 5.07 0.0189
2015-08-17 2015-06-30 13F CULLEN FROST BANKERS COM 229899109 46,652 3,665
2015-05-14 2015-03-31 13F CULLEN FROST BANKERS COM 229899109 50,474 -5,263 -9.44 3,488 -11.40 0.0191
2015-02-13 2014-12-31 13F CULLEN FROST BANKERS COM 229899109 55,737 -13,306 -19.27 3,937 -25.48 0.0219
2014-11-13 2014-09-30 13F CULLEN FROST BANKERS COM 229899109 69,043 35,621 106.58 5,283 99.06 0.0464
2014-08-14 2014-06-30 13F CULLEN FROST BANKERS COM 229899109 33,422 3,408 11.35 2,654 14.05 0.0238
2014-05-15 2014-03-31 13F CULLEN FROST BANKERS COM 229899109 30,014 30,014 2,327 0.0223
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.