Investment manager Baillie Gifford established a new position in Cullen/Frost Bankers (CFR) with the purchase of 2.23 million shares valued at approximately $345.09 million. This investment gives the firm a 0.31% weighting in the Texas-based bank holding company within its reported portfolio.
The transaction was disclosed in a quarterly 13F filing with the SEC, which reports positions held as of June 30, 2026. These filings are released with a delay and reflect a snapshot from the end of the second quarter. During that period, Cullen/Frost reported quarterly revenue of $598.3 million and an EPS of $2.70, beating analyst expectations.