# EDGAR Filing Document

**Accession Number:** 0001109957
**File Stem:** 0001752724-25-210420
**Filing Date:** 2025-8
**Character Count:** 26267
**Document Hash:** 0a111e8f9825fbc6c131cff6df1531fc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-210420.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-210420

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20250630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CULLEN FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001109957

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09871
- **FILM NUMBER:** 251268935

**BUSINESS ADDRESS:**
- **STREET 1:** 645 FIFTH AVE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 212-644-1800

**MAIL ADDRESS:**
- **STREET 1:** 645 FIFTH AVE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

## Series and Classes Contracts Data

### Cullen Emerging Markets High Dividend Fund (Series ID: S000038162)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000117696 | Class C      | CEMGX           |
| C000117697 | Class I      | CEMFX           |
| C000117698 | Retail Class | CEMDX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** CULLEN FUNDS TRUST

- **b. Investment Company Act file number:** 811-09871

- **c. CIK number of Registrant:** 0001109957

- **d. LEI of Registrant:** 549300Z3TQTWACOAV180

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 645 FIFTH AVENUE

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10022

  - **Telephone number:** 2126441800

**Item A.2. Information about the Series.**

- **a. Name of Series:** Cullen Emerging Markets High Dividend Fund

- **b. EDGAR series identifier (if any):** S000038162

- **c. LEI of Series:** 54930056PEAHD8XRSC03

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-06-30

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $1159856685.23

**Total Liabilities:** $1075384.60

**Net Assets:** $1158781300.63

**Cash Not Reported:** $4974160.33

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000117696 | -0.40%               | 5.66%                | 4.36%                |
| Class ID C000117698 | -0.32%               | 5.71%                | 4.45%                |
| Class ID C000117697 | -0.39%               | 5.81%                | 4.46%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-7692420.85             | $681079.03                                 |
| Month 2  | $-454592.69              | $53237183.35                               |
| Month 3  | $4473064.28              | $38806074.72                               |

### Schedule of Portfolio Investments

| Name                                   | Title                                          | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| REC Ltd                                | REC Ltd                                        | CUSIP: N/A<br>LEI: 335800B4YRYWAMIJZ374       | Long             | EC               | CORP              | IN        |   3352063 | NS      | $15728429.93  | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Trip.com Group Ltd                     | Trip.com Group Ltd                             | CUSIP: N/A<br>LEI: 2549004RMYDSRQL4KW41       | Long             | EC               | CORP              | KY        |     42776 | NS      | $2484838.25   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Aldar Properties PJSC                  | Aldar Properties PJSC                          | CUSIP: N/A<br>LEI: 98450048CD8AEF13B480       | Long             | EC               | CORP              | AE        |  13737800 | NS      | $33366327.94  | 2.88%             |  |  |  | No            |                  1 | On Loan: No      |
| State Bank of India                    | State Bank of India                            | CUSIP: N/A<br>LEI: 5493001JZ37UBBZF6L49       | Long             | EC               | CORP              | IN        |   1666687 | NS      | $15942941.70  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Femsa SAB de CV              | Coca-Cola Femsa SAB de CV                      | CUSIP: N/A<br>LEI: 5493008KEVFYPMGTXO33       | Long             | EC               | CORP              | MX        |   2027726 | NS      | $19642396.81  | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Lundin Mining Corp                     | Lundin Mining Corp                             | CUSIP: 550372106<br>LEI: 549300FQDIM6C8HTN269 | Long             | EC               | CORP              | CA        |    340075 | NS      | $3576187.99   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyundai Motor Co                       | Hyundai Motor Co                               | CUSIP: N/A<br>LEI: 9884004RQX8PRBXQ8S60       | Long             | EC               | CORP              | KR        |     63001 | NS      | $9499632.11   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd             | Samsung Electronics Co Ltd                     | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |    708468 | NS      | $31391809.72  | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Hon Hai Precision Industry Co          | Hon Hai Precision Industry Co                  | CUSIP: N/A<br>LEI: 30030004CM3GSZXX7O56       | Long             | EC               | CORP              | TW        |    530000 | NS      | $2921059.84   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Grid Corp of India Ltd           | Power Grid Corp of India Ltd                   | CUSIP: N/A<br>LEI: 3358009SHWZ3DZEQ4Z56       | Long             | EC               | NUSS              | IN        |   4626632 | NS      | $16179185.36  | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Capitaland India Trust                 | Capitaland India Trust REIT                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SG        |    665200 | NS      | $549319.70    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaspi.KZ JSC                           | Kaspi.KZ JSC ADR                               | CUSIP: 48581R205<br>LEI: 2549003YU6FARG8OAZ13 | Long             | EC               | CORP              | KZ        |      5350 | NS      | $454161.50    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI Bank Ltd                         | ICICI Bank Ltd                                 | CUSIP: 45104G104<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |   1032313 | NS      | $34727009.32  | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Vedanta Ltd                            | Vedanta Ltd                                    | CUSIP: N/A<br>LEI: 335800XDKX9KB5EMCO07       | Long             | EC               | CORP              | IN        |   1802000 | NS      | $9683438.67   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| TECOM Group PJSC                       | TECOM Group PJSC                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AE        |   2839308 | NS      | $2489400.36   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| MediaTek Inc                           | MediaTek Inc                                   | CUSIP: N/A<br>LEI: 254900UEGBK1I4DM4E14       | Long             | EC               | CORP              | TW        |    500270 | NS      | $21406870.46  | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Macquarie Korea Infrastructure         | Macquarie Korea Infrastructure                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |    377989 | NS      | $3215259.13   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Copa Holdings SA                       | Copa Holdings SA                               | CUSIP: P31076105<br>LEI: 529900BB9UQJV6QQHA59 | Long             | EC               | CORP              | PA        |    133655 | NS      | $14698040.35  | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| P-NOTE Contemporary Amperex Technology | P-NOTE Contemporary Amperex Technology         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |    764107 | NS      | $26895955.11  | 2.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Quanta Computer Inc                    | Quanta Computer Inc                            | CUSIP: N/A<br>LEI: 529900DE8BIV3XOXIK04       | Long             | EC               | CORP              | TW        |   3663147 | NS      | $34421944.80  | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Financiero Banorte SAB d         | Grupo Financiero Banorte SAB de CV             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |   2278576 | NS      | $20909057.07  | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| PETROBRAS                              | Petroleo Brasileiro SA                         | CUSIP: N/A<br>LEI: 5493000J801JZRCMFE49       | Long             | EC               | CORP              | BR        |   4603609 | NS      | $28809097.20  | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| OPAP SA                                | OPAP SA                                        | CUSIP: N/A<br>LEI: 213800M4NRGFJCI34834       | Long             | EC               | CORP              | GR        |   1376940 | NS      | $31222945.35  | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd              | Alibaba Group Holding Ltd                      | CUSIP: N/A<br>LEI: 5493001NTNQJDH60PM02       | Long             | EC               | CORP              | KY        |   1984200 | NS      | $27753700.34  | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Laureate Education Inc                 | Laureate Education Inc                         | CUSIP: 518613203<br>LEI: 5JL7TMOH5TY3IUYSUP91 | Long             | EC               | CORP              | US        |    366018 | NS      | $8557500.84   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| KT&G Corp                              | KT&G Corp                                      | CUSIP: N/A<br>LEI: 988400ZJV6ISYBLQX875       | Long             | EC               | CORP              | KR        |    324378 | NS      | $30692850.18  | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Property Mexico SA de         | Prologis Property Mexico SA de CV              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |   6710744 | NS      | $25302306.91  | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| BYD Co Ltd                             | BYD Co Ltd                                     | CUSIP: N/A<br>LEI: 5299005557VL7ULJ7A69       | Long             | EC               | CORP              | CN        |   1653828 | NS      | $25808308.33  | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Gemadept Corp                          | Gemadept Corp                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | VN        |   1118000 | NS      | $2478214.43   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Arca Continental SAB de CV             | Arca Continental SAB de CV                     | CUSIP: N/A<br>LEI: 254900U2BSJCQHJCXN24       | Long             | EC               | CORP              | MX        |   1465896 | NS      | $15530396.48  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Midea Group Co Ltd                     | Midea Group Co Ltd                             | CUSIP: N/A<br>LEI: 3003003TRPHLHZD2IF61       | Long             | EC               | CORP              | CN        |   1133739 | NS      | $10752535.82  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenaga Nasional Bhd                    | Tenaga Nasional Bhd                            | CUSIP: N/A<br>LEI: 549300FV8X6UID6I1413       | Long             | EC               | CORP              | MY        |   4665800 | NS      | $15934973.04  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Emaar Properties PJSC                  | Emaar Properties PJSC                          | CUSIP: N/A<br>LEI: 254900YWYEXYXK1BMP81       | Long             | EC               | CORP              | AE        |   4821900 | NS      | $17855971.25  | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Emirates NBD Bank PJSC                 | Emirates NBD Bank PJSC                         | CUSIP: N/A<br>LEI: 54930029BCN8HF3B1286       | Long             | EC               | CORP              | AE        |   2147800 | NS      | $13333834.34  | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| NTPC Ltd                               | NTPC Ltd                                       | CUSIP: N/A<br>LEI: 335800Q4TRGJXNLVMB81       | Long             | EC               | CORP              | IN        |   1760000 | NS      | $6872947.76   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Ho Chi Minh City Securities Co         | Ho Chi Minh City Securities Co                 | CUSIP: N/A<br>LEI: 213800SAZX6COB8ML838       | Long             | EC               | CORP              | VN        |   2056700 | NS      | $1685012.92   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| AIA Group Ltd                          | AIA Group Ltd                                  | CUSIP: N/A<br>LEI: ZP5ILWVSYE4LJGMMVD57       | Long             | EC               | CORP              | HK        |   1506000 | NS      | $13506124.24  | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Itau Unibanco Holding SA               | Itau Unibanco Holding SA                       | CUSIP: N/A<br>LEI: 5493002W2IVG62O3ZJ94       | Long             | EP               | CORP              | BR        |   3281270 | NS      | $22267292.14  | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| China Construction Bank Corp           | China Construction Bank Corp                   | CUSIP: N/A<br>LEI: 5493001KQW6DM7KEDR62       | Long             | EC               | NUSS              | CN        |  44867085 | NS      | $45267461.98  | 3.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunonwealth Electric Machine I         | Sunonwealth Electric Machine Industrial Co Ltd | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |   3665329 | NS      | $12610076.83  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Sinbon Electronics Co Ltd              | Sinbon Electronics Co Ltd                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |    872838 | NS      | $6528656.13   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Airtel Africa PLC                      | Airtel Africa PLC                              | CUSIP: N/A<br>LEI: 254900ZNZDQL6OWQH623       | Long             | EC               | CORP              | GB        |    348402 | NS      | $862253.35    | 0.07%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Tencent Holdings Ltd                   | Tencent Holdings Ltd                           | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               | CORP              | KY        |    805192 | NS      | $51594159.96  | 4.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Embassy Office Parks REIT              | Embassy Office Parks REIT                      | CUSIP: N/A<br>LEI: 335800O555A557E43Z08       | Long             | EC               | CORP              | IN        |   3142668 | NS      | $14273194.80  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| KOC Holding AS                         | KOC Holding AS                                 | CUSIP: N/A<br>LEI: 7890005U0H950VH19H45       | Long             | EC               | CORP              | TR        |    167910 | NS      | $649412.39    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglo American PLC                     | Anglo American PLC                             | CUSIP: N/A<br>LEI: 549300S9XF92D1X8ME43       | Long             | EC               | CORP              | GB        |    154623 | NS      | $4563216.52   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Emaar Development PJSC                 | Emaar Development PJSC                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AE        |   1459960 | NS      | $5366623.10   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Oil & Natural Gas Corp Ltd             | Oil & Natural Gas Corp Ltd                     | CUSIP: N/A<br>LEI: 335800FPDZ9MRSNO7N41       | Long             | EC               | CORP              | IN        |   2570295 | NS      | $7319166.77   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Saudi Arabian Oil Co                   | Saudi Arabian Oil Co                           | CUSIP: N/A<br>LEI: 5586006WD91QHB7J4X50       | Long             | EC               | CORP              | SA        |     57500 | NS      | $372856.95    | 0.03%             |  |  |  | Yes           |                  1 | On Loan: No      |
| KB Financial Group Inc                 | KB Financial Group Inc                         | CUSIP: N/A<br>LEI: 529900TKE4MXG3Q6GW86       | Long             | EC               | CORP              | KR        |    437100 | NS      | $35917597.81  | 3.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CIMB Group Holdings Bhd                | CIMB Group Holdings Bhd                        | CUSIP: N/A<br>LEI: 549300FYDN5UD7USZW18       | Long             | EC               | CORP              | MY        |   2173000 | NS      | $3504256.03   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Zijin Mining Group Co Ltd              | Zijin Mining Group Co Ltd                      | CUSIP: N/A<br>LEI: 836800JRNL2393Z2I561       | Long             | EC               | CORP              | CN        |  15995496 | NS      | $40854998.41  | 3.53%             |  |  |  | No            |                  1 | On Loan: No      |
| NHPC Ltd                               | NHPC Ltd                                       | CUSIP: N/A<br>LEI: 3358003ZPPTGWT595J46       | Long             | EC               | CORP              | IN        |  13509411 | NS      | $13517287.29  | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| PetroChina Co Ltd                      | PetroChina Co Ltd                              | CUSIP: N/A<br>LEI: 529900RPY4YG47TRSV05       | Long             | EC               | CORP              | CN        |  11532000 | NS      | $9916114.12   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| TSMC                                   | Taiwan Semiconductor Manufacturing Co Ltd ADR  | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    156560 | NS      | $35459274.40  | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Rakyat Indonesia Persero          | Bank Rakyat Indonesia Persero                  | CUSIP: N/A<br>LEI: 254900HB6S4B12GBNP64       | Long             | EC               | NUSS              | ID        |    774417 | NS      | $178399.73    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Arabia PJSC                        | Air Arabia PJSC                                | CUSIP: N/A<br>LEI: 21380058Y5RCZI2HBX17       | Long             | EC               | CORP              | AE        |   8439975 | NS      | $7882457.73   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| ASE Technology Holding Co Ltd          | ASE Technology Holding Co Ltd                  | CUSIP: N/A<br>LEI: 300300GO8QHPMV87NZ73       | Long             | EC               | CORP              | TW        |   6689337 | NS      | $33776434.60  | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| ICTSI                                  | International Container Termin                 | CUSIP: N/A<br>LEI: 254900FU1MWK0I0Q4J61       | Long             | EC               | CORP              | PH        |   2413730 | NS      | $17611273.39  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Ho Chi Minh City Securities Rights     | Ho Chi Minh City Securities Rights             | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | VN        |   2056700 | NC      | $448811.85    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| SLC Agricola SA                        | SLC Agricola SA                                | CUSIP: N/A<br>LEI: 54930017BQDYJPIJXG79       | Long             | EC               | CORP              | BR        |   1338389 | NS      | $4382385.80   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurobank Ergasias Services and         | Eurobank Ergasias Services and Holdings        | CUSIP: N/A<br>LEI: JEUVK5RWVJEN8W0C9M24       | Long             | EC               | CORP              | GR        |  11069812 | NS      | $38023832.11  | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Powszechna Kasa Oszczednosci B         | Powszechna Kasa Os                             | CUSIP: N/A<br>LEI: P4GTT6GF1W40CVIMFR43       | Long             | EC               | CORP              | PL        |    942250 | NS      | $19669257.98  | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Wiwynn Corp                            | Wiwynn Corp                                    | CUSIP: N/A<br>LEI: 254900FV2R15PMKXFL69       | Long             | EC               | CORP              | TW        |    366101 | NS      | $31707364.44  | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Polska Kasa Opieki SA             | Bank Polska Kasa Opieki SA                     | CUSIP: N/A<br>LEI: 5493000LKS7B3UTF7H35       | Long             | EC               | CORP              | PL        |     16360 | NS      | $839707.58    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TSMC                                   | Taiwan Semiconductor Manufactu                 | CUSIP: N/A<br>LEI: 549300KB6NK5SBD14S87       | Long             | EC               | CORP              | TW        |   1323400 | NS      | $48021498.01  | 4.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Metlen Energy & Metals SA              | Metlen Energy & Metals SA                      | CUSIP: N/A<br>LEI: 213800KT8MEUJEJ2KW41       | Long             | EC               | CORP              | GR        |    668355 | NS      | $36231134.60  | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-30

**Name of Applicant:** CULLEN FUNDS TRUST

**Signature:** Stephen ONeil

**Name of Signer:** Stephen ONeil

**Title:** Treasurer