# EDGAR Filing Document

**Accession Number:** 0001109957
**File Stem:** 0001752724-23-043656
**Filing Date:** 2023-2
**Character Count:** 15371
**Document Hash:** 4507263a86eabd076480a8e0f4e73722
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-043656.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-043656

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20230630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CULLEN FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001109957
- **IRS NUMBER:** 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:** 23676046

**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 Value Fund (Series ID: S000038163)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000117699 | Class C      | CVLFX           |
| C000117700 | Class I      | CVLVX           |
| C000117701 | Retail Class | CVLEX           |

## 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 Value Fund

- **b. EDGAR series identifier (if any):** S000038163

- **c. LEI of Series:** 549300YPGS4FYQ2YAG74

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

- **a. Date of fiscal year-end:** 2023-06-30

- **b. Date as of which information is reported:** 2022-12-31

**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:** $24383913.48

**Total Liabilities:** $24457.16

**Net Assets:** $24359456.32

**Cash Not Reported:** $441932.54

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000117700 | 12.05%               | 5.81%                | -3.13%               |
| Class ID C000117701 | 12.01%               | 5.80%                | -3.09%               |
| Class ID C000117699 | 11.95%               | 5.66%                | -3.17%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-349036.18              | $2898286.96                                |
| Month 2  | $0.00                    | $1347451.43                                |
| Month 3  | $84123.61                | $-896202.14                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ConocoPhillips                   | ConocoPhillips                 | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |      7798 | NS      | $920164.00    | 3.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Arrow Electronics Inc            | Arrow Electronics Inc          | CUSIP: 042735100<br>LEI: 549300YNNLBXT8N8R512 | Long             | EC               | CORP              | US        |      6778 | NS      | $708775.46    | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                     | Comcast Corp                   | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     14300 | NS      | $500071.00    | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| General Dynamics Corp            | General Dynamics Corp          | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |      3279 | NS      | $813552.69    | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                   | Morgan Stanley                 | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |      7604 | NS      | $646492.08    | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc     | Thermo Fisher Scientific Inc   | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |       631 | NS      | $347485.39    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc/Delaware       | Cisco Systems Inc/Delaware     | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     12901 | NS      | $614603.64    | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co          | Bristol-Myers Squibb Co        | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     13132 | NS      | $944847.40    | 3.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Allstate Corp/The                | Allstate Corp/The              | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |      6391 | NS      | $866619.60    | 3.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International Inc       | Mondelez International Inc     | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |     11794 | NS      | $786070.10    | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                | Johnson & Johnson              | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      4245 | NS      | $749879.25    | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Archer-Daniels-Midland Co        | Archer-Daniels-Midland Co      | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |      4507 | NS      | $418474.95    | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc            | Applied Materials Inc          | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      4800 | NS      | $467424.00    | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp                      | Oracle Corp                    | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      8476 | NS      | $692828.24    | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens AG                       | Siemens AG                     | CUSIP: 826197501<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |      5400 | NS      | $371466.00    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Raytheon Technologies Corp       | Raytheon Technologies Corp     | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |      8183 | NS      | $825828.36    | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Unilever PLC                     | Unilever PLC                   | CUSIP: 904767704<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |     12393 | NS      | $623987.55    | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian National Railway Co     | Canadian National Railway Co   | CUSIP: 136375102<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | EC               | CORP              | CA        |      3774 | NS      | $448653.12    | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Corp                       | Cigna Corp                     | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      2364 | NS      | $783287.76    | 3.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co/The               | Walt Disney Co/The             | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      3992 | NS      | $346824.96    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| 3M Co                            | 3M Co                          | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |      3230 | NS      | $387341.60    | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| VERIZON COMMUNICATIONS INC       | VERIZON COMMUNICATIONS INC     | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     12100 | NS      | $476740.00    | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensata Technologies Holding Plc | Sensata Technologies Holding P | CUSIP: G8060N102<br>LEI: 529900MS7KFYCY9MS037 | Long             | EC               | CORP              | GB        |      5700 | NS      | $230166.00    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Packaging Corp of America        | Packaging Corp of America      | CUSIP: 695156109<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | EC               | CORP              | US        |      2800 | NS      | $358148.00    | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd                        | Chubb Ltd                      | CUSIP: H1467J104<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | US        |      3925 | NS      | $865855.00    | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co              | American Express Co            | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |      4300 | NS      | $635325.00    | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                    | Citigroup Inc                  | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     12680 | NS      | $573516.40    | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co              | JPMorgan Chase & Co            | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      6884 | NS      | $923144.40    | 3.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co/The                    | Boeing Co/The                  | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |      2775 | NS      | $528609.75    | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                   | Merck & Co Inc                 | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     10228 | NS      | $1134796.60   | 4.66%             |  |  |  | No            |                  1 | On Loan: No      |
| BorgWarner Inc                   | BorgWarner Inc                 | CUSIP: 099724106<br>LEI: 549300DSFX2IE88NSX47 | Long             | EC               | CORP              | US        |     12900 | NS      | $519225.00    | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowe's Cos Inc                   | Lowe's Cos Inc                 | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |      4091 | NS      | $815090.84    | 3.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                    | Medtronic PLC                  | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |      7005 | NS      | $544428.60    | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp             | Bank of America Corp           | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     17700 | NS      | $586224.00    | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc                       | Pfizer Inc                     | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |     20098 | NS      | $1029821.52   | 4.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                     | Chevron Corp                   | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5089 | NS      | $913424.61    | 3.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Axalta Coating Systems Ltd       | Axalta Coating Systems Ltd     | CUSIP: G0750C108<br>LEI: 529900AGLPA40GV6H619 | Long             | EC               | CORP              | BM        |     14400 | NS      | $366768.00    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-31

**Name of Applicant:** CULLEN FUNDS TRUST

**Signature:** Brooks Cullen

**Name of Signer:** Brooks Cullen

**Title:** Vice President