# EDGAR Filing Document

**Accession Number:** 0001109957
**File Stem:** 0001752724-25-210422
**Filing Date:** 2025-8
**Character Count:** 14011
**Document Hash:** ee2091b6ec898360ef8fe34ffc4edd2d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-210422.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-210422

**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:** 251268934

**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 Small Cap Value Fund (Series ID: S000026472)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000079419 | Retail Class | CUSRX           |
| C000079420 | Class I      | CUSIX           |
| C000079421 | Class C      | CUSCX           |

## 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 Small Cap Value Fund

- **b. EDGAR series identifier (if any):** S000026472

- **c. LEI of Series:** 54930037NJ2DLWHPE647

**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:** $9510261.09

**Total Liabilities:** $85273.47

**Net Assets:** $9424987.62

**Cash Not Reported:** $27564.92

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000079419 | -6.75%               | 5.06%                | 3.07%                |
| Class ID C000079421 | -6.79%               | 4.89%                | 3.04%                |
| Class ID C000079420 | -6.75%               | 5.08%                | 3.09%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-268792.64              | $-404973.85                                |
| Month 2  | $-113314.57              | $553036.01                                 |
| Month 3  | $-11038.64               | $282928.43                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Cousins Properties Inc               | Cousins Properties Inc          | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |     15658 | NS      | $470209.74    | 4.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Viper Energy Inc                     | Viper Energy Partners LP        | CUSIP: 927959106<br>LEI: 5299009LINL232255G03 | Long             | EC               | CORP              | US        |      5883 | NS      | $224318.79    | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Malibu Boats Inc                     | Malibu Boats Inc CL A           | CUSIP: 56117J100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9185 | NS      | $287857.90    | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Great Lakes Dredge & Dock Corp       | Great Lakes Dredge & Dock Corp  | CUSIP: 390607109<br>LEI: 549300H65E3MZ1CX0P05 | Long             | EC               | CORP              | US        |     39830 | NS      | $485527.70    | 5.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Carter's Inc                         | Carter's Inc                    | CUSIP: 146229109<br>LEI: 5299003WAQK4R3L3ZU36 | Long             | EC               | CORP              | US        |      1538 | NS      | $46339.94     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| loanDepot Inc                        | loanDepot Inc                   | CUSIP: 53946R106<br>LEI: 5493003261L42OH8RK59 | Long             | EC               | CORP              | US        |    191218 | NS      | $242846.86    | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Sitio Royalties Corp                 | Sitio Royalties Corp Class A    | CUSIP: 82983N108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6659 | NS      | $122392.42    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| PennyMac Financial Services In       | PennyMac Financial Services Inc | CUSIP: 70932M107<br>LEI: 549300W1D516HBDEU871 | Long             | EC               | CORP              | US        |      3350 | NS      | $333794.00    | 3.54%             |  |  |  | No            |                  1 | On Loan: No      |
| First Horizon Corp                   | First Horizon Corp              | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |     28415 | NS      | $602398.00    | 6.39%             |  |  |  | No            |                  1 | On Loan: No      |
| LendingTree Inc                      | LendingTree Inc                 | CUSIP: 52603B107<br>LEI: 549300ISY5YHUJZTON08 | Long             | EC               | CORP              | US        |     12854 | NS      | $476497.78    | 5.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Highwoods Properties Inc             | Highwoods Properties Inc        | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               | CORP              | US        |     11526 | NS      | $358343.34    | 3.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Water Solutions Inc           | Select Water Solutions Inc      | CUSIP: 81617J301<br>LEI: 54930094OK8LA3QDW486 | Long             | EC               | CORP              | US        |     19098 | NS      | $165006.72    | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| M/I Homes Inc                        | M/I Homes Inc                   | CUSIP: 55305B101<br>LEI: 5299005M71FH9CCSFB69 | Long             | EC               | CORP              | US        |      3219 | NS      | $360914.28    | 3.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott Vacations Worldwide C       | Marriott Vacations Worldwide C  | CUSIP: 57164Y107<br>LEI: 549300WA6BT5H4F7IO94 | Long             | EC               | CORP              | US        |      6458 | NS      | $466977.98    | 4.95%             |  |  |  | No            |                  1 | On Loan: No      |
| WesBanco Inc                         | WesBanco Inc                    | CUSIP: 950810101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13648 | NS      | $431686.24    | 4.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntsman Corp                        | Huntsman Corp                   | CUSIP: 447011107<br>LEI: 5299000V56320A7RIQ67 | Long             | EC               | CORP              | US        |      7951 | NS      | $82849.42     | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Crocs Inc                            | Crocs Inc                       | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               | CORP              | US        |      2636 | NS      | $266974.08    | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Unisys Corp                          | Unisys Corp                     | CUSIP: 909214306<br>LEI: 549300T21W22FIJJOW08 | Long             | EC               | CORP              | US        |     19163 | NS      | $86808.39     | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameris Bancorp                       | Ameris Bancorp                  | CUSIP: 03076K108<br>LEI: PBJHNT51T5V6G5UQFV42 | Long             | EC               | CORP              | US        |      6112 | NS      | $395446.40    | 4.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmark Group Inc                    | Newmark Group Inc               | CUSIP: 65158N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29243 | NS      | $355302.45    | 3.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Helmerich & Payne Inc                | Helmerich & Payne Inc           | CUSIP: 423452101<br>LEI: 254900NAOGHJ88RZ4C73 | Long             | EC               | CORP              | US        |      3205 | NS      | $48587.80     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Simmons First National Corp          | Simmons First National Corp     | CUSIP: 828730200<br>LEI: 549300IVR5AJKUVOGN05 | Long             | EC               | CORP              | US        |     16398 | NS      | $310906.08    | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Civitas Resources Inc                | Civitas Resources Inc           | CUSIP: 17888H103<br>LEI: IIVIHPH28S64K95M2381 | Long             | EC               | CORP              | US        |      2658 | NS      | $73148.16     | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| First Interstate BancSystem Inc CL A | First Interstate Bancsystem Inc | CUSIP: 32055Y201<br>LEI: 549300WRWYTYX0RCNJ43 | Long             | EC               | CORP              | US        |      6408 | NS      | $184678.56    | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy Inc                   | Coterra Energy Inc              | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |      7219 | NS      | $183218.22    | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Under Armour Inc                     | Under Armour Inc                | CUSIP: 904311206<br>LEI: 549300D4549QKWETZ406 | Long             | EC               | CORP              | US        |     20189 | NS      | $131026.61    | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Douglas Elliman Inc                  | Douglas Elliman Inc             | CUSIP: 25961D105<br>LEI: 549300BXICHPOXA1NO93 | Long             | EC               | CORP              | US        |    277722 | NS      | $644315.04    | 6.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Masterbrand Inc                      | Masterbrand Inc                 | CUSIP: 57638P104<br>LEI: 549300E0Y4BR5Z9RDZ64 | Long             | EC               | CORP              | US        |     30119 | NS      | $329200.67    | 3.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Enterprise Financial Services        | Enterprise Financial Services   | CUSIP: 293712105<br>LEI: 5493001XTU5DLD632129 | Long             | EC               | CORP              | US        |      6725 | NS      | $370547.50    | 3.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Portland General Electric Co         | Portland General Electric Co    | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |      4834 | NS      | $196405.42    | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Korn Ferry                           | Korn Ferry                      | CUSIP: 500643200<br>LEI: 549300FOD20OM0GT5G40 | Long             | EC               | CORP              | US        |      5687 | NS      | $417027.71    | 4.42%             |  |  |  | No            |                  1 | On Loan: No      |
| SouthState Corp                      | SouthState Corp                 | CUSIP: 840441109<br>LEI: 549300JZUANXM0YQ4W53 | Long             | EC               | CORP              | US        |      3300 | NS      | $303698.97    | 3.22%             |  |  |  | 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