Cullen High Dividend Equity Fund

Fund Holdings

Nearly 65 percent of the fund’s stock portfolio was invested in North American companies, as of Sept. 30, 2010. Another 12 percent is in the United Kingdom. The vast majority of the fund’s portfolio is invested in developed market stocks, with only about 2 percent in emerging markets. Although the fund diversifies quite heavily among a number of industries, nearly 25 percent of assets were recently invested in the consumer goods sector. With only 32 stocks as of Sept. 30, 2010, the fund is considered extremely concentrated, which is usually viewed as aggressive, but its record reveals that its portfolio of high-dividend, high-quality value stocks provides less volatility.

Asset Allocation

% Long % Net
Cash 1.12 1.12
Stocks 78.34 78.34
Bonds 0.0 0.0
Other 0.0 0.0
Foreign Bonds 0.0 0.0
Foreign Stocks 20.54 20.54
Convertible 0.0 0.0
Preferred 0.0 0.0

Updated 12.31.2013

Top 10 Holdings

Performance as of 02.28.2014

Portfolio as of 12.31.2013

Ticker YTD Return % % Net Assets
Raytheon Company RTN 8.27 4.61
Vodafone Group PLC ADR VOD -15.73 3.88
3M Co MMM -5.12 3.83
ConocoPhillips COP -5.17 3.7
General Electric Co GE -9.6 3.48
Johnson & Johnson JNJ 0.69 3.35
Merck & Co Inc MRK 12.73 3.33
Intel Corp INTC -4.74 3.31
AstraZeneca PLC ADR AZN 15.88 3.28
Altria Group Inc. MO -5.05 3.27

See Also:

Top Cullen Funds Trust Funds