# EDGAR Filing Document

**Accession Number:** 0001109957
**File Stem:** 0000910472-26-002924
**Filing Date:** 2026-2
**Character Count:** 23917
**Document Hash:** 27a78fd9bf4ce5dc09264fa88a197142
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-002924.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0000910472-26-002924

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20260630

**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:** 26685677

**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 International High Dividend Fund (Series ID: S000006836)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000018481 | Retail Class | CIHDX           |
| C000018482 | Class C      | CIHCX           |
| C000018483 | Class I      | CIHIX           |

## 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:** 212-644-1800

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

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

- **b. EDGAR series identifier (if any):** S000006836

- **c. LEI of Series:** 5493009XF4YG6B1C0283

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

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2025-12-31

**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:** $394812386.64

**Total Liabilities:** $1860677.71

**Net Assets:** $392951708.93

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000018481 | -0.16%               | 0.08%                | 4.37%                |
| Class ID C000018482 | -0.24%               | 0.00%                | 4.24%                |
| Class ID C000018483 | -0.15%               | 0.15%                | 4.30%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1165856.80              | $-1674823.72                               |
| Month 2  | $556423.43               | $-662266.78                                |
| Month 3  | $4449624.64              | $11554167.53                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Diageo PLC                                     | DIAGEO PLC              | CUSIP: G42089113<br>LEI: 213800ZVIELEA55JMJ32 | Long             | EC               | CORP              | GB        |     45794 | NS      | $989858.58    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| BAE Systems PLC                                | BAE SYSTEMS PLC         | CUSIP: G06940103<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | EC               | CORP              | GB        |    344296 | NS      | $7954967.36   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| British American Tobacco PLC                   | BRIT AMER TO-ADR        | CUSIP: 110448107<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |    198473 | NS      | $11237541.26  | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Financiero Banorte S.A.B. de C.V.        | GRUPO F BANORT-O        | CUSIP: P49501201<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |    304439 | NS      | $2820291.44   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge Inc.                                  | ENBRIDGE INC            | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |    199297 | NS      | $9536728.15   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleo Brasileiro SA                         | PETROBRAS               | CUSIP: P78331132<br>LEI: 5493000J801JZRCMFE49 | Long             | EC               | CORP              | BR        |    399470 | NS      | $2375089.07   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Corporation of Canada                    | POWER CORP CDA          | CUSIP: 739239101<br>LEI: 549300BE2CB8T87IJV50 | Long             | EC               | CORP              | CA        |    200683 | NS      | $10665995.07  | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Post AG                               | DHL GROUP               | CUSIP: D19225107<br>LEI: 8ER8GIG7CSMVD8VUFE78 | Long             | EC               | CORP              | DE        |    123145 | NS      | $6760533.19   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| UPM-Kymmene Corporation                        | UPM-KYMMENE OYJ         | CUSIP: X9518S108<br>LEI: 213800EC6PW5VU4J9U64 | Long             | EC               | CORP              | FI        |      5161 | NS      | $150306.85    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Munich Reinsurance AG                          | MUENCHENER RUE-R        | CUSIP: D55535104<br>LEI: 529900MUF4C20K50JS49 | Long             | EC               | CORP              | DE        |     13970 | NS      | $9226896.15   | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercedes-Benz Group AG                         | MERCEDES-BENZ GR        | CUSIP: D1668R123<br>LEI: 529900R27DL06UVNT076 | Long             | EC               | CORP              | DE        |    106488 | NS      | $7514960.24   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi SA                                      | SANOFI                  | CUSIP: F5548N101<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |     48105 | NS      | $4674865.60   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens AG                                     | SIEMENS AG-REG          | CUSIP: D69671218<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |     45149 | NS      | $12684895.85  | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Telekom AG                            | DEUTSCHE TELEKOM        | CUSIP: D2035M136<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | EC               | CORP              | DE        |     70485 | NS      | $2290431.27   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Zurich Insurance Group AG                      | ZURICH INSURANCE        | CUSIP: H9870Y105<br>LEI: 529900QVNRBND50TXP03 | Long             | EC               | CORP              | CH        |      9560 | NS      | $7262500.95   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgestone Corp.                              | Bridgestone Corp        | CUSIP: J04578126<br>LEI: 549300DHPOF90OYYD780 | Long             | EC               | CORP              | JP        |    439400 | NS      | $9858018.63   | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Computer Inc.                           | QUANTA COMPUTER         | CUSIP: Y7174J106<br>LEI: 529900DE8BIV3XOXIK04 | Long             | EC               | CORP              | TW        |     10000 | NS      | $86657.32     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| KT&G Corp.                                     | KT&G CORP               | CUSIP: Y49904108<br>LEI: 988400ZJV6ISYBLQX875 | Long             | EC               | CORP              | KR        |    105995 | NS      | $10435657.97  | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| RIO Tinto Limited                              | RIO TINTO LTD           | CUSIP: Q81437107<br>LEI: 529900X2VMAQT2PE0V24 | Long             | EC               | CORP              | AU        |    129158 | NS      | $12652950.93  | 3.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Hon Hai Precision Industry Co Ltd.             | HON HAI                 | CUSIP: Y36861105<br>LEI: 30030004CM3GSZXX7O56 | Long             | EC               | CORP              | TW        |    250000 | NS      | $1835892.70   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Komatsu Ltd.                                   | KOMATSU LTD             | CUSIP: J35759125<br>LEI: 5493004LQ0B4T7QPQV17 | Long             | EC               | CORP              | JP        |    113300 | NS      | $3616827.02   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokio Marine Holdings Inc.                     | TOKIO MARINE HD         | CUSIP: J86298106<br>LEI: 5299009QN2NZ191KLS29 | Long             | EC               | CORP              | JP        |    303425 | NS      | $11268815.00  | 2.87%             |  |  |  | No            |                  1 | On Loan: No      |
| CapitaLand Ascendas REIT                       | CAPLAND ASCENDAS        | CUSIP: Y0205X103<br>LEI: 549300ILIBAEMQZK3L20 | Long             | EC               | CORP              | SG        |     72009 | NS      | $158536.10    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| NTT Inc.                                       | NTT INC                 | CUSIP: J59396101<br>LEI: 353800VHQU5VIXVUA841 | Long             | EC               | CORP              | JP        |   2838298 | NS      | $2857705.76   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                    | NOVARTIS AG-ADR         | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |    109430 | NS      | $15087114.10  | 3.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Zijin Mining Group Co Ltd.                     | ZIJIN MINING-H          | CUSIP: Y9892H107<br>LEI: 836800JRNL2393Z2I561 | Long             | EC               | CORP              | CN        |   2715058 | NS      | $12440248.18  | 3.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd.                    | SAMSUNG ELE-PREF        | CUSIP: Y74718118<br>LEI: 9884007ER46L6N7EI764 | Long             | EP               | CORP              | KR        |    257207 | NS      | $15896005.99  | 4.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Sonic Healthcare Ltd.                          | Sonic Healthcare Ltd    | CUSIP: Q8563C107<br>LEI: 549300NQQ5L2NONWR862 | Long             | EC               | CORP              | AU        |    191744 | NS      | $2892728.26   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Toyota Motor Corp.                             | TOYOTA MOTOR            | CUSIP: J92676113<br>LEI: 5493006W3QUS5LMH6R84 | Long             | EC               | CORP              | JP        |    659467 | NS      | $14130022.23  | 3.60%             |  |  |  | No            |                  1 | On Loan: No      |
| United Overseas Bank Ltd.                      | UNITED OVERSEAS         | CUSIP: Y9T10P105<br>LEI: IO66REGK3RCBAMA8HR66 | Long             | EC               | CORP              | SG        |      6441 | NS      | $175679.12    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holding AG                               | ROCHE HLDG-GENUS        | CUSIP: H69293217<br>LEI: 549300U41AUUVOAAOB37 | Long             | EP               | CORP              | CH        |     12500 | NS      | $5178747.25   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Nestle SA                                      | NESTLE SA-REG           | CUSIP: H57312649<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |      5590 | NS      | $555627.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Enel S.p.A.                                    | ENEL SPA                | CUSIP: T3679P115<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | EC               | CORP              | IT        |   1109996 | NS      | $11575933.38  | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                                 | BNP PARIBAS             | CUSIP: F1058Q238<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EC               | CORP              | FR        |     36171 | NS      | $3433100.43   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Compagnie de Saint-Gobain SA                   | SAINT GOBAIN            | CUSIP: F80343100<br>LEI: NFONVGN05Z0FMN5PEC35 | Long             | EC               | CORP              | FR        |     53125 | NS      | $5427337.88   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Powszechna Kasa Oszczednosci Bank Polski SA    | PKOBP                   | CUSIP: X6919X108<br>LEI: P4GTT6GF1W40CVIMFR43 | Long             | EC               | CORP              | PL        |    161678 | NS      | $3835450.02   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Volvo AB                                       | VOLVO AB-B              | CUSIP: 928856301<br>LEI: 549300HGV012CNC8JD22 | Long             | EC               | CORP              | SE        |    183798 | NS      | $5907226.75   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Vinci SA                                       | VINCI SA                | CUSIP: F5879X108<br>LEI: 213800WFQ334R8UXUG83 | Long             | EC               | CORP              | FR        |     14687 | NS      | $2071398.44   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| 3i Group PLC                                   | 3I GROUP PLC            | CUSIP: G88473148<br>LEI: 35GDVHRBMFE7NWATNM84 | Long             | EC               | CORP              | GB        |    145298 | NS      | $6391051.51   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Iberdrola, S.A.                                | IBERDROLA SA            | CUSIP: E6165F166<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |    529191 | NS      | $11479689.64  | 2.92%             |  |  |  | No            |                  1 | On Loan: No      |
| MS&AD Insurance Group Holdings Inc.            | MS&AD INSURANCE         | CUSIP: J4687C105<br>LEI: 529900CXROT5S2HMMP26 | Long             | EC               | CORP              | JP        |    307673 | NS      | $7234673.39   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Julius Baer Group AG                           | JULIUS BAER GROU        | CUSIP: H4414N103<br>LEI: 5299007MF0604ZGJER92 | Long             | EC               | CORP              | CH        |       100 | NS      | $7877.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                            | BBH SWEEP VEHICLE       | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |   2355602 | PA      | $2355602.35   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| National Grid PLC                              | NATIONAL GRID PL        | CUSIP: G6S9A7120<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | EC               | CORP              | GB        |    629433 | NS      | $9685477.40   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| AIB Group PLC                                  | AIB GROUP PLC           | CUSIP: G0R4HJ106<br>LEI: 635400AKJBGNS5WNQL34 | Long             | EC               | CORP              | IE        |   1499450 | NS      | $16206461.47  | 4.12%             |  |  |  | No            |                  1 | On Loan: No      |
| SoftBank Corp                                  | SOFTBANK CORP           | CUSIP: J75963132<br>LEI: 353800M1YCTS9JRBJ535 | Long             | EC               | CORP              | JP        |   7483315 | NS      | $10262569.91  | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| ASE Technology Holding Co Ltd.                 | ASE TECHNOLOGY H        | CUSIP: Y0249T100<br>LEI: 300300GO8QHPMV87NZ73 | Long             | EC               | CORP              | TW        |   1433664 | NS      | $11441723.97  | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola FEMSA SAB de CV                      | COCA-COLA FEMSA         | CUSIP: P2861Y177<br>LEI: 5493008KEVFYPMGTXO33 | Long             | EC               | CORP              | MX        |    362262 | NS      | $3440037.72   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesco PLC                                      | TESCO PLC               | CUSIP: G8T67X102<br>LEI: 2138002P5RNKC5W2JZ46 | Long             | EC               | CORP              | GB        |    955582 | NS      | $5691009.10   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Actinver SA                              | PROLOGIS MEXICO         | CUSIP: P4559M101<br>LEI: 4469000001BLWI4LQJ08 | Long             | EC               | CORP              | MX        |   1038631 | NS      | $4337985.85   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| DnB Bank ASA                                   | DNB BANK ASA            | CUSIP: R1R15X100<br>LEI: 549300GKFG0RYRRQ1414 | Long             | EC               | CORP              | NO        |    186930 | NS      | $5220508.59   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| NN Group N.V.                                  | NN GROUP                | CUSIP: N64038107<br>LEI: 724500OHYNDT9OY6Q215 | Long             | EC               | CORP              | NL        |    129500 | NS      | $10001562.50  | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Novo Nordisk A/S                               | NOVO NORDISK-B          | CUSIP: K72807140<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |    135085 | NS      | $6913303.81   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                                      | SHELL PLC               | CUSIP: G80827101<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |     63454 | NS      | $2343717.02   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Compagnie Generale des Etablissements Michelin | MICHELIN                | CUSIP: F61824870<br>LEI: 549300SOSI58J6VIW052 | Long             | EC               | CORP              | FR        |     74043 | NS      | $2462590.85   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Midea Group Co Ltd.                            | MIDEA GROUP CO L        | CUSIP: Y6S40V111<br>LEI: 3003003TRPHLHZD2IF61 | Long             | EC               | CORP              | CN        |    500187 | NS      | $5459644.66   | 1.39%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Svenska Handelsbanken AB                       | SVENSKA HAN-A           | CUSIP: W9112U104<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | EC               | CORP              | SE        |    100068 | NS      | $1460262.01   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| UniCredit S.p.A.                               | UNICREDIT SPA           | CUSIP: T9T23L642<br>LEI: 549300TRUWO2CD2G5692 | Long             | EC               | CORP              | IT        |    225039 | NS      | $18749724.95  | 4.77%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                            | CURRENCY CONTRACT - PLN | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |    217463 | NC      | $285.87       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                            | CURRENCY CONTRACT - PLN | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |    211080 | NC      | $13.78        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TotalEnergies SE                               | TOTALENERGIES SE        | CUSIP: F92124100<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |       500 | NS      | $32710.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Europacific Partners PLC             | COCA-COLA EUROPA        | CUSIP: G25839104<br>LEI: 549300LTH67W4GWMRF57 | Long             | EC               | CORP              | GB        |     26295 | NS      | $2384956.50   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Smurfit WestRock plc                           | SMURFIT WESTROCK        | CUSIP: G8267P108<br>LEI: 635400EGSEOPDW2EXS14 | Long             | EC               | CORP              | IE        |      9790 | NS      | $378579.30    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-28

**Name of Applicant:** Cullen Funds Trust

**Signature:** Stephen ONeil

**Name of Signer:** Stephen ONeil

**Title:** Treasurer