• CVF maintains a diversified portfolio across 12 sectors
• Top 5 holdings represent 27.8% of the portfolio
• Largest position: BERKSHIRE HATHAWAY INCORPORATED DEL CLASS B NEW (BRK-B) at 6.7%

Trends by sector

Investment Adjustments from Previous Filing

Cullen Value Fund Holdings

Symbol	Company	Portfolio %	Price	Quantity	Change Qty	Change Value	% Change	Total Value
PGR PROGRESSIVE CORPORATION	PROGRESSIVE CORPORATION	0.31%	$266.87	8,152	-553	-$147,578	-6.35%	$2,175,504
HWM HOWMET AEROSPACE INCORPORATED	HOWMET AEROSPACE INCORPORATED	0.31%	$186.12	11,631	-30	-$5,584	-0.26%	$2,164,791
LHX L3HARRIS TECHNOLOGIES INCORPORATED	L3HARRIS TECHNOLOGIES INCORPORATED	0.29%	$250.85	8,159	204	$51,174	2.56%	$2,046,710
T AT&T INCORPORATED	AT&T INCORPORATED	0.26%	$28.94	64,280	-1,295	-$37,478	-1.97%	$1,860,275
BAC BANK AMERICA CORPORATION	BANK AMERICA CORPORATION	0.26%	$47.32	39,160	-18	-$852	-0.05%	$1,853,068
GOOGL ALPHABET INCORPORATED CAP STK CLASS A	ALPHABET INCORPORATED CAP STK CLASS A	0.26%	$176.23	10,249	-223	-$39,300	-2.13%	$1,806,210
FANG DIAMONDBACK ENERGY INCORPORATED	DIAMONDBACK ENERGY INCORPORATED	0.25%	$137.40	12,970	2,229	$306,257	20.75%	$1,782,032
MPC MARATHON PETE CORPORATION	MARATHON PETE CORPORATION	0.25%	$166.11	10,567	-10,283	-$1,708,133	-49.32%	$1,755,309
QCOM QUALCOMM INCORPORATED	QUALCOMM INCORPORATED	0.25%	$159.26	11,000	756	$120,402	7.38%	$1,751,884
EW EDWARDS LIFESCIENCES CORPORATION	EDWARDS LIFESCIENCES CORPORATION	0.24%	$78.21	21,751	828	$64,758	3.96%	$1,701,146
CMG CHIPOTLE MEXICAN GRILL INCORPORATED	CHIPOTLE MEXICAN GRILL INCORPORATED	0.24%	$56.15	30,231	7,150	$401,473	30.98%	$1,697,471
RSG REPUBLIC SVCS INCORPORATED	REPUBLIC SVCS INCORPORATED	0.24%	$246.61	6,850	9	$2,219	0.13%	$1,689,268
SNPS SYNOPSYS INCORPORATED	SYNOPSYS INCORPORATED	0.23%	$512.68	3,233	1,557	$798,243	92.90%	$1,657,494
ECL ECOLAB INCORPORATED	ECOLAB INCORPORATED	0.22%	$269.44	5,776	2,521	$679,258	77.45%	$1,556,286
GILD GILEAD SCIENCES INCORPORATED	GILEAD SCIENCES INCORPORATED	0.22%	$110.87	13,997	-581	-$64,414	-3.99%	$1,551,817
KMI KINDER MORGAN INCORPORATED DEL	KINDER MORGAN INCORPORATED DEL	0.22%	$29.40	52,079	-880	-$25,872	-1.66%	$1,531,130
ORLY OREILLY AUTOMOTIVE INCORPORATED	OREILLY AUTOMOTIVE INCORPORATED	0.20%	$90.13	15,480	14,413	$1,299,043	1350.80%	$1,395,212
RTX RTX CORPORATION	RTX CORPORATION	0.19%	$146.02	9,381	-91	-$13,288	-0.96%	$1,369,786
GD GENERAL DYNAMICS CORPORATION	GENERAL DYNAMICS CORPORATION	0.18%	$291.69	4,488	-421	-$122,800	-8.58%	$1,309,092
TROW PRICE T ROWE GROUP INCORPORATED	PRICE T ROWE GROUP INCORPORATED	0.18%	$96.50	13,434	-120	-$11,580	-0.89%	$1,296,382
SHEL SHELL PLC SPON ADS	SHELL PLC SPON ADS	0.18%	$70.41	18,324	121	$8,520	0.66%	$1,290,213
HBCP HOME BANCORP INCORPORATED	HOME BANCORP INCORPORATED	0.18%	$51.78	24,140	-328	-$16,984	-1.34%	$1,249,969
DXCM DEXCOM INCORPORATED	DEXCOM INCORPORATED	0.18%	$87.29	14,237	1,432	$124,999	11.18%	$1,242,748
VOO VANGUARD INDEX FUNDS S&P 500 ETF SHS NEW	VANGUARD INDEX FUNDS S&P 500 ETF SHS NEW	0.17%	$568.03	2,180	231	$131,215	11.85%	$1,238,305
IBM INTERNATIONAL BUSINESS MACHINES	INTERNATIONAL BUSINESS MACHINES	0.17%	$294.75	4,173	172	$50,697	4.30%	$1,229,994
SU SUNCOR ENERGY INCORPORATED NEW	SUNCOR ENERGY INCORPORATED NEW	0.17%	$37.45	31,518	251	$9,400	0.80%	$1,180,353
GE GE AEROSPACE COM NEW	GE AEROSPACE COM NEW	0.17%	$257.42	4,556	-7	-$1,802	-0.15%	$1,172,790
ET ENERGY TRANSFER L P COM UT LTD PTN	ENERGY TRANSFER L P COM UT LTD PTN	0.16%	$18.13	63,900	-500	-$9,065	-0.78%	$1,158,507
MDLZ MONDELEZ INTERNATIONAL INCORPORATED CLASS A	MONDELEZ INTERNATIONAL INCORPORATED CLASS A	0.16%	$67.44	17,159	-336	-$22,660	-1.92%	$1,157,233
CSX CSX CORPORATION	CSX CORPORATION	0.16%	$32.63	35,143	-141	-$4,601	-0.40%	$1,146,731
NATH NATHANS FAMOUS INCORPORATED NEW	NATHANS FAMOUS INCORPORATED NEW	0.16%	$110.58	10,363	-	-	-	$1,145,979
WY WEYERHAEUSER COMPANY MTN BE COM NEW REIT	WEYERHAEUSER COMPANY MTN BE COM NEW REIT	0.16%	$25.69	43,952	-1,504	-$38,637	-3.31%	$1,129,119
OKE ONEOK INCORPORATED NEW	ONEOK INCORPORATED NEW	0.16%	$81.63	13,783	-65	-$5,306	-0.47%	$1,125,108
TSLA TESLA INCORPORATED	TESLA INCORPORATED	0.15%	$317.66	3,440	1	$318	0.03%	$1,092,750
COR CENCORA INCORPORATED	CENCORA INCORPORATED	0.14%	$299.88	3,333	-36	-$10,796	-1.07%	$999,502
WFC WELLS FARGO COMPANY NEW	WELLS FARGO COMPANY NEW	0.14%	$80.12	12,115	52	$4,166	0.43%	$970,672
KO COCA COLA COMPANY	COCA COLA COMPANY	0.13%	$70.75	13,383	-341	-$24,125	-2.48%	$946,837
IVV ISHARES TR CORE S&P500 ETF	ISHARES TR CORE S&P500 ETF	0.13%	$621.08	1,489	350	$217,378	30.73%	$924,789
IRDM IRIDIUM COMMUNICATIONS INCORPORATED	IRIDIUM COMMUNICATIONS INCORPORATED	0.13%	$30.17	30,595	-742	-$22,386	-2.37%	$923,043
GBX GREENBRIER COMPANIES INCORPORATED	GREENBRIER COMPANIES INCORPORATED	0.13%	$46.05	19,325	-172	-$7,920	-0.88%	$889,905
BX BLACKSTONE INCORPORATED	BLACKSTONE INCORPORATED	0.12%	$149.59	5,860	-18	-$2,693	-0.31%	$876,571
PARA PARAMOUNT GLOBAL CLASS B COM	PARAMOUNT GLOBAL CLASS B COM	0.12%	$12.90	66,464	116	$1,496	0.17%	$857,383
IIIV I3 VERTICALS INCORPORATED COM CLASS A	I3 VERTICALS INCORPORATED COM CLASS A	0.12%	$27.48	31,065	-3,979	-$109,343	-11.35%	$853,666
CVS CVS HEALTH CORPORATION	CVS HEALTH CORPORATION	0.12%	$68.98	11,873	-4,724	-$325,856	-28.46%	$818,986
NSRGY NESTLE S A SPONSORED ADR	NESTLE S A SPONSORED ADR	0.11%	$99.32	7,532	72	$7,151	0.97%	$748,103
PFE PFIZER INCORPORATED	PFIZER INCORPORATED	0.10%	$24.24	30,583	-5,186	-$125,710	-14.50%	$741,340
ITOT ISHARES TR CORE S&P TTL STK	ISHARES TR CORE S&P TTL STK	0.09%	$135.04	4,913	-156	-$21,065	-3.08%	$663,427
OXY OCCIDENTAL PETE CORPORATION	OCCIDENTAL PETE CORPORATION	0.09%	$42.01	15,748	515	$21,635	3.38%	$661,561
DVN DEVON ENERGY CORPORATION NEW	DEVON ENERGY CORPORATION NEW	0.09%	$31.81	20,709	-6,752	-$214,783	-24.59%	$658,759
WBD WARNER BROS DISCOVERY INCORPORATED COM SER A	WARNER BROS DISCOVERY INCORPORATED COM SER A	0.09%	$11.46	55,690	-7,092	-$81,274	-11.30%	$638,206
SJM SMUCKER J M COMPANY COM NEW	SMUCKER J M COMPANY COM NEW	0.09%	$98.20	6,497	-119	-$11,686	-1.80%	$638,016
PEO ADAM NAT RES FD INCORPORATED	ADAM NAT RES FD INCORPORATED	0.09%	$21.37	28,703	-700	-$14,959	-2.38%	$613,376
FGBI FIRST GTY BANCSHARES INCORPORATED	FIRST GTY BANCSHARES INCORPORATED	0.09%	$8.22	73,840	90	$740	0.12%	$606,961
SMG SCOTTS MIRACLE-GRO COMPANY CLASS A	SCOTTS MIRACLE-GRO COMPANY CLASS A	0.08%	$65.96	9,119	-2,146	-$141,548	-19.05%	$601,481
NVS NOVARTIS AG SPONSORED ADR	NOVARTIS AG SPONSORED ADR	0.08%	$121.00	4,936	-465	-$56,266	-8.61%	$597,268
KDP KEURIG DR PEPPER INCORPORATED	KEURIG DR PEPPER INCORPORATED	0.08%	$33.06	17,953	-6	-$198	-0.03%	$593,512
QSR RESTAURANT BRANDS INTERNATIONAL INCORPORATED	RESTAURANT BRANDS INTERNATIONAL INCORPORATED	0.08%	$66.29	8,948	10	$663	0.11%	$593,159
KMB KIMBERLY-CLARK CORPORATION	KIMBERLY-CLARK CORPORATION	0.08%	$128.91	4,534	-17	-$2,192	-0.37%	$584,490
MCD MCDONALDS CORPORATION	MCDONALDS CORPORATION	0.08%	$292.24	1,995	-344	-$100,531	-14.71%	$583,024
TGT TARGET CORPORATION	TARGET CORPORATION	0.08%	$98.65	5,822	-559	-$55,143	-8.76%	$574,314

Page 2 of 3 • 167 total holdings

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