UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number (811-09871)
CULLEN FUNDS TRUST
(Exact name of registrant as specified in charter)
645 FIFTH AVENUE
NEW YORK, NY 10022
(Address of principal executive offices) (Zip code)
BROOKS H. CULLEN
645 FIFTH AVENUE
NEW YORK, NY 10022
(Name and address of agent for service)
Registrant's telephone number, including area code: 877-485-8586
Date of fiscal year end: June 30
Date of reporting period: June 30, 2007
Item 1. Proxy Voting Record.
Proxy Voting Record Meetings by Month Cullen High Dividend Fund Meeting Date Range: 01-Jul-2006 To 30-Jun-2007 |
Month | | | Meetings | | | | | | | | | | |
| August 2006 | 3 | | | | | | | | | | |
| October 2006 | 3 | | | | | | | | | | |
| November 2006 | 1 | | | | | | | | | | |
| December 2006 | 2 | | | | | | | | | | |
| April 2007 | 15 | | | | | | | | | | |
| May 2007 | 16 | | | | | | | | | | |
Grand Total | 40 | | | | | | | | | | |
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Proxy Vote Audit Report Cullen High Dividend Fund Date Range: 01-Jul-2006 To 30-Jun-2007 | | |
Account Number | Company Name | Meeting Type | Meeting Date | Ballot Shares | Voted Shares | Director Votes | Proposal Votes | Vote Date | Security | Ticker Symbol | Agenda Number | Committee Name |
| 19-1366 | H.J. HEINZ COMPANY | Contested-Annual | 16-Aug-2006 | 138850 | 138850 | FFFFFFFFFFFF | F | 09-Aug-2006 | 423074103 | HNZ | 932565130 | Management |
| 19-1366 | WACHOVIA CORPORATION | Special | 31-Aug-2006 | 90900 | 90900 | | FF | 29-Aug-2006 | 929903102 | WB | 932569835 | Management |
| 19-1366 | CEMEX, S.A.B. DE C.V. | Special | 31-Aug-2006 | 202600 | 202600 | | F | 29-Aug-2006 | 151290889 | CX | 932578012 | Management |
| 19-1366 | REGIONS FINANCIAL CORPORATION | Special | 03-Oct-2006 | 202050 | 202050 | | FF | 11-Sep-2006 | 7591EP100 | RF | 932577616 | Management |
| 19-1366 | DIAGEO PLC | Annual | 17-Oct-2006 | 123750 | 123750 | | FFFFFFFFFFF FFF | 02-Oct-2006 | 25243Q205 | DEO | 932587908 | Management |
| 19-1366 | SARA LEE CORPORATION | Annual | 26-Oct-2006 | 40550 | 40550 | FFFFFFFFFFFF | FNN | 24-Oct-2006 | 803111103 | SLE | 932586386 | Management |
| 19-1366 | PETROCHINA COMPANY LIMITED | Special | 01-Nov-2006 | 30500 | 30500 | | ///// | 24-Oct-2006 | 71646E100 | PTR | 932588265 | Management |
| 19-1366 | CEMEX, S.A.B. DE C.V. | Annual | 07-Dec-2006 | 202600 | 202600 | | F | 04-Dec-2006 | 151290889 | CX | 932606570 | Management |
| 19-1366 | AUSTRALIA & NEW ZEALAND BANKING GRP | Annual | 15-Dec-2006 | 43100 | 43100 | | FFF | 04-Dec-2006 | 052528304 | ANZ | 932608790 | Management |
| 19-1366 | PETROLEO BRASILEIRO S.A. - PETROBRAS | Special | 02-Apr-2007 | 50000 | 50000 | | FFFFFFFF | 15-Mar-2007 | 71654V408 | PBR | 932641992 | Management |
| 19-1366 | WACHOVIA CORPORATION | Annual | 17-Apr-2007 | 90900 | 90900 | FFFFFFFF | FFFNNNN | 14-Mar-2007 | 929903102 | WB | 932640801 | Management |
| 19-1366 | CITIGROUP INC. | Annual | 17-Apr-2007 | 85420 | 85420 | | FFFFFFFFFFF FFFFNNNNNN NNN | 15-Mar-2007 | 172967101 | C | 932641562 | Management |
| 19-1366 | PPG INDUSTRIES, INC. | Annual | 19-Apr-2007 | 142300 | 142300 | FFF | FFFN | 14-Mar-2007 | 693506107 | PPG | 932640851 | Management |
| 19-1366 | WEYERHAEUSER COMPANY | Annual | 19-Apr-2007 | 83250 | 83250 | FFFFFF | NNNF | 16-Mar-2007 | 962166104 | WY | 932642615 | Management |
| 19-1366 | REGIONS FINANCIAL CORPORATION | Annual | 19-Apr-2007 | 353250 | 353250 | | FFFFFFFF | 21-Mar-2007 | 7591EP100 | RF | 932646081 | Management |
| 19-1366 | KRAFT FOODS INC. | Annual | 24-Apr-2007 | 316100 | 316100 | FFFFFFFFF | F | 21-Mar-2007 | 50075N104 | KFT | 932646118 | Management |
| 19-1366 | BANK OF AMERICA CORPORATION | Annual | 25-Apr-2007 | 247400 | 247400 | | FFFFFFFFFFF FFFFFFFNNN | 20-Mar-2007 | 060505104 | BAC | 932644481 | Management |
| 19-1366 | CHEVRON CORPORATION | Annual | 25-Apr-2007 | 182000 | 182000 | | FFFFFFFFFFF FFFFFNNNNN N | 22-Mar-2007 | 166764100 | CVX | 932647007 | Management |
| 19-1366 | KIMBERLY-CLARK CORPORATION | Annual | 26-Apr-2007 | 178900 | 178900 | | FFFFFNNN | 13-Mar-2007 | 494368103 | KMB | 932640091 | Management |
| 19-1366 | PFIZER INC. | Annual | 26-Apr-2007 | 475450 | 475450 | FFFFFFFFFFFF | FNNNN | 15-Mar-2007 | 717081103 | PFE | 932641637 | Management |
| 19-1366 | ALTRIA GROUP, INC. | Annual | 26-Apr-2007 | 144550 | 144550 | FFFFFFFFFFF | FNNNNN | 27-Mar-2007 | 02209S103 | MO | 932652349 | Management |
| 19-1366 | BARCLAYS PLC | Annual | 26-Apr-2007 | 212900 | 212900 | | FFFFFFFFFFF FFFFFF | 10-Apr-2007 | 06738E204 | BCS | 932673266 | Management |
| 19-1366 | CEMEX, S.A.B. DE C.V. | Annual | 26-Apr-2007 | 369350 | 369350 | | FFFFFF | 10-Apr-2007 | 151290889 | CX | 932673874 | Management |
| 19-1366 | AT&T INC. | Annual | 27-Apr-2007 | 274142 | 274142 | | FFFFFFFFFFF FFFFFFFFNNN NN | 21-Mar-2007 | 00206R102 | T | 932646360 | Management |
| 19-1366 | BRISTOL-MYERS SQUIBB COMPANY | Annual | 01-May-2007 | 480800 | 480800 | | FFFFFFFFFFF FNNN | 23-Mar-2007 | 110122108 | BMY | 932648439 | Management |
| 19-1366 | RAYTHEON COMPANY | Annual | 02-May-2007 | 190850 | 190850 | | FFFFFFFFFFN NN | 28-Mar-2007 | 755111507 | RTN | 932653707 | Management |
| 19-1366 | VERIZON COMMUNICATIONS INC. | Annual | 03-May-2007 | 241700 | 241700 | | FFFFFFFFFFF FFFFFNNNNN NN | 22-Mar-2007 | 92343V104 | VZ | 932647401 | Management |
| 19-1366 | 3M COMPANY | Annual | 08-May-2007 | 126200 | 126200 | FFFFFFFFFF | FFFFFN | 30-Mar-2007 | 88579Y101 | MMM | 932657832 | Management |
| 19-1366 | THE DOW CHEMICAL COMPANY | Annual | 10-May-2007 | 317850 | 317850 | FFFFFFFFFFFF | FFNNNN | 24-Mar-2007 | 260543103 | DOW | 932650244 | Management |
| 19-1366 | HEALTH CARE PROPERTY INVESTORS, INC. | Annual | 10-May-2007 | 338550 | 338550 | FFFFFFFFFF | FN | 17-Apr-2007 | 421915109 | HCP | 932683166 | Management |
| 19-1366 | JPMORGAN CHASE & CO. | Annual | 15-May-2007 | 267650 | 267650 | FFFFFFFFFFF | FNNNNNNNN | 31-Mar-2007 | 46625H100 | JPM | 932660120 | Management |
| 19-1366 | HEALTHCARE REALTY TRUST INCORPORATED | Annual | 15-May-2007 | 151150 | 151150 | FFF | FF | 03-Apr-2007 | 421946104 | HR | 932662097 | Management |
| 19-1366 | UNILEVER N.V. | Annual | 15-May-2007 | 532050 | 532050 | FFFFFFFFFFFFFFF | FFFFFFFFF | 03-Apr-2007 | 904784709 | UN | 932663378 | Management |
| 19-1366 | ALLIED CAPITAL CORPORATION | Annual | 15-May-2007 | 380650 | 380650 | FFFF | FFF | 05-Apr-2007 | 01903Q108 | ALD | 932664584 | Management |
| 19-1366 | PETROCHINA COMPANY LIMITED | Annual | 16-May-2007 | 101150 | 101150 | | FFFFFFFFFFF FFF | 19-Apr-2007 | 71646E100 | PTR | 932688623 | Management |
| 19-1366 | BRE PROPERTIES, INC. | Annual | 17-May-2007 | 54000 | 54000 | FFFFFFFFF | F | 29-Mar-2007 | 05564E106 | BRE | 932656664 | Management |
| 19-1366 | GLAXOSMITHKLINE PLC | Annual | 23-May-2007 | 214200 | 214200 | | FFFFFFFFFFF FFFF | 22-Mar-2007 | 37733W105 | GSK | 932647780 | Management |
| 19-1366 | PINNACLE WEST CAPITAL CORPORATION | Annual | 23-May-2007 | 245950 | 245950 | FFFFFFFFFFF | FFF | 18-Apr-2007 | 723484101 | PNW | 932685235 | Management |
| 19-1366 | EQUITY RESIDENTIAL | Annual | 24-May-2007 | 181950 | 181950 | FFFFFFFFFFF | FN | 21-Apr-2007 | 29476L107 | EQR | 932690957 | Management |
| 19-1366 | HSBC HOLDINGS PLC | Annual | 25-May-2007 | 112550 | 112550 | | FFFFFFFFFFF FFFFFF | 10-Apr-2007 | 404280406 | HBC | 932673785 | Management |
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Proxy Voting Record Meetings by Month Cullen International High Dividend Fund Meeting Date Range: 01-Jul-2006 To 30-Jun-2007 |
Month | | | Meetings | | | | | | | | | | |
| July 2006 | 1 | | | | | | | | | | |
| August 2006 | 1 | | | | | | | | | | |
| October 2006 | 1 | | | | | | | | | | |
| November 2006 | 1 | | | | | | | | | | |
| December 2006 | 4 | | | | | | | | | | |
| April 2007 | 10 | | | | | | | | | | |
| May 2007 | 12 | | | | | | | | | | |
| June 2007 | 5 | | | | | | | | | | |
Grand Total | 35 | | | | | | | | | | |
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Proxy Vote Audit Report Cullen International High Dividend Fund Date Range: 01-Jul-2006 To 30-Jun-2007 |
Account Number | Company Name | Meeting Type | Meeting Date | Ballot Shares | Voted Shares | Director Votes | Proposal Votes | Vote Date | Security | Ticker Symbol | Agenda Number | Committee Name |
| 000888333 | VODAFONE GROUP PLC | Special | 25-Jul-2006 | 7500 | 7500 | FFFFFFFFFFFF | FFFFFFFFFFF | 17-Jul-2006 | 92857W100 | VOD | 932558438 | Management |
| 000888333 | CEMEX, S.A.B. DE C.V. | Special | 31-Aug-2006 | 5600 | 5600 | | F | 29-Aug-2006 | 151290889 | CX | 932578012 | Management |
| 000888333 | DIAGEO PLC | Annual | 17-Oct-2006 | 3450 | 3450 | | FFFFFFFFFFF FFF | 02-Oct-2006 | 25243Q205 | DEO | 932587908 | Management |
| 000888333 | PETROCHINA COMPANY LIMITED | Special | 01-Nov-2006 | 1200 | 1200 | | ///// | 24-Oct-2006 | 71646E100 | PTR | 932588265 | Management |
| 000888333 | CEMEX, S.A.B. DE C.V. | Annual | 07-Dec-2006 | 5600 | 5600 | | F | 04-Dec-2006 | 151290889 | CX | 932606570 | Management |
| 000888333 | AUSTRALIA & NEW ZEALAND BANKING GRP | Annual | 15-Dec-2006 | 1700 | 1700 | | FFF | 04-Dec-2006 | 052528304 | ANZ | 932608790 | Management |
| 000888333 | CPFL ENERGIA S.A. | Special | 18-Dec-2006 | 4000 | 4000 | | // | 13-Dec-2006 | 126153105 | CPL | 932612294 | Management |
| 000888333 | MAGYAR TELEKOM PLC | Special | 21-Dec-2006 | 2150 | 2150 | | FFFFF | 13-Dec-2006 | 559776109 | MTA | 932612307 | Management |
| 000888333 | PETROLEO BRASILEIRO S.A. - PETROBRAS | Special | 02-Apr-2007 | 3150 | 3150 | | FFFFFFFF | 15-Mar-2007 | 71654V408 | PBR | 932641992 | Management |
| 000888333 | CPFL ENERGIA S.A. | Annual | 10-Apr-2007 | 5500 | 5500 | | FFFF | 17-Mar-2007 | 126153105 | CPL | 932644239 | Management |
| 000888333 | UBS AG | Annual | 18-Apr-2007 | 4650 | 4650 | | FFFFFFFFFFF | 30-Mar-2007 | H89231338 | UBS | 932658529 | Management |
| 000888333 | NESTLE S.A. | Annual | 19-Apr-2007 | 4250 | 4250 | | FFFFFFF | 21-Mar-2007 | 641069406 | NSRGY | 932646651 | Management |
| 000888333 | ING GROEP N.V. | Annual | 24-Apr-2007 | 10500 | 10500 | | FFFFFFFFFFF FFFFFFF | 27-Mar-2007 | 456837103 | ING | 932653478 | Management |
| 000888333 | CANADIAN OIL SANDS TRUST | Annual and Special Meeting | 25-Apr-2007 | 500 | 500 | | FFFF | 17-Mar-2007 | 13642L100 | COSWF | 932644291 | Management |
| 000888333 | BARCLAYS PLC | Annual | 26-Apr-2007 | 7650 | 7650 | | FFFFFFFFFFF FFFFFF | 10-Apr-2007 | 06738E204 | BCS | 932673266 | Management |
| 000888333 | CEMEX, S.A.B. DE C.V. | Annual | 26-Apr-2007 | 10300 | 10300 | | FFFFFF | 10-Apr-2007 | 151290889 | CX | 932673874 | Management |
| 000888333 | ABN AMRO HOLDING N.V. | Annual | 26-Apr-2007 | 10200 | 10200 | | FFFFFFFFFFF FFFFFFF | 12-Apr-2007 | 000937102 | ABN | 932677656 | Management |
| 000888333 | TIMBERWEST FOREST CORP. | Annual and Special Meeting | 27-Apr-2007 | 3900 | 3900 | FFFFFFF | FFF | 27-Mar-2007 | 887147205 | TWTUF | 932653149 | Management |
| 000888333 | NOKIA CORPORATION | Annual | 03-May-2007 | 18750 | 18750 | FFFFFFFFFFF | FFFFFFFFFFF FFF | 15-Mar-2007 | 654902204 | NOK | 932641497 | Management |
| 000888333 | NOKIA CORPORATION | Annual | 03-May-2007 | 11150 | 11150 | FFFFFFFFFFF | FFFFFFFFFFF FFF | 18-Apr-2007 | 654902204 | NOK | 932685982 | Management |
| 000888333 | ENERPLUS RESOURCES FUND | Annual | 04-May-2007 | 5900 | 5900 | | FF | 29-Mar-2007 | 29274D604 | ERF | 932656309 | Management |
| 000888333 | VERMILION ENERGY TRUST | Annual and Special Meeting | 04-May-2007 | 8150 | 8150 | | FFFFF | 31-Mar-2007 | 923728109 | VETMF | 932660207 | Management |
| 000888333 | TAIWAN SEMICONDUCTOR MFG. CO. LTD. | Annual | 07-May-2007 | 26500 | 26500 | | FFFFF | 07-Apr-2007 | 874039100 | TSM | 932671882 | Management |
| 000888333 | UNILEVER N.V. | Annual | 15-May-2007 | 14400 | 14400 | FFFFFFFFFFFFFFF | FFFFFFFFF | 03-Apr-2007 | 904784709 | UN | 932663378 | Management |
| 000888333 | PETROCHINA COMPANY LIMITED | Annual | 16-May-2007 | 3650 | 3650 | | FFFFFFFFFFF FFF | 19-Apr-2007 | 71646E100 | PTR | 932688623 | Management |
| 000888333 | ALUMINUM CORPORATION OF CHINA LIMITE | Annual | 18-May-2007 | 6100 | 6100 | | FFFFFFFFFFF | 25-Apr-2007 | 022276109 | ACH | 932696187 | Management |
| 000888333 | GLAXOSMITHKLINE PLC | Annual | 23-May-2007 | 7250 | 7250 | | FFFFFFFFFFF FFFF | 22-Mar-2007 | 37733W105 | GSK | 932647780 | Management |
| 000888333 | ENEL S.P.A. | Annual | 23-May-2007 | 8050 | 8050 | | FFFFFFFF | 05-May-2007 | 29265W108 | EN | 932711751 | Management |
| 000888333 | HSBC HOLDINGS PLC | Annual | 25-May-2007 | 2250 | 2250 | | FFFFFFFFFFF FFFFFF | 10-Apr-2007 | 404280406 | HBC | 932673785 | Management |
| 000888333 | TSAKOS ENERGY NAVIGATION LTD | Annual | 31-May-2007 | 6400 | 6400 | FFF | FFF | 05-May-2007 | G9108L108 | TNP | 932710230 | Management |
| 000888333 | PENGROWTH ENERGY TRUST | Annual and Special Meeting | 11-Jun-2007 | 13600 | 13600 | | FFFFFFFF | 16-May-2007 | 706902509 | PGH | 932721269 | Management |
| 000888333 | NISSAN MOTOR CO., LTD. | Annual | 20-Jun-2007 | 13350 | 13350 | FFFFFFFFFF | FFFF | 25-May-2007 | 654744408 | NSANY | 932728756 | Management |
| 000888333 | GUANGSHEN RAILWAY COMPANY LIMITED | Annual | 28-Jun-2007 | 200 | 200 | | FFFFFFFFFFF | 24-May-2007 | 40065W107 | GSH | 932727526 | Management |
| 000888333 | OIL CO LUKOIL | Annual | 28-Jun-2007 | 1650 | 1650 | | FFFFFFFFFFF FFFFF | 31-May-2007 | 677862104 | LUKOY | 932734189 | Management |
| 000888333 | OIL CO LUKOIL | Annual | 28-Jun-2007 | 18150 | 18150 | | FFFFFFFFFFF F | 02-Jun-2007 | 677862104 | LUKOY | 932736195 | Management |
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SIGNATURES
Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Cullen Funds Trust
By (Signature and Title)* /s/ James P. Cullen
James P. Cullen
President and Principal Executive Officer
Date 7/27/07
