Cullen Emerging Markets High Dividend Fund
Actively managed emerging-markets stock fund
As of its 2026 Q2 report, Cullen Emerging Markets High Dividend Fund held 78 positions with $2.22B in net assets. Its ten largest holdings made up 39.4% of the fund. Over the 12 months to May 2026, CEMGX returned 54.1%, with dividends reinvested. In 2026 Q2 it added 11 new positions and exited 11.
The Cullen Emerging Markets High Dividend Fund (the Emerging Markets High Dividend Fund or the Fund) seeks current income and long-term capital appreciation.
The fund invests at least 80% of assets in high dividend-paying stocks and depositary receipts of companies organized in, maintaining substantial assets in, or deriving at least 50% of revenues from emerging market countries, selecting across all capitalizations for growth potential and yields above the MSCI Emerging Markets Index average. The fund limits any single country to 30% of assets at purchase and may write covered call options to generate additional income. Because holdings are weighted roughly equally at purchase and the portfolio is not systematically rebalanced, individual security performance will drive divergence from the fund's dividend and growth objectives over time.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
SSNLFSAMSUNG ELECTRONICS CO LTD | 8.20% | $181.85M | 842.1K | $215.93 |
TSMWFTAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTD | 6.44% | $142.96M | 1.9M | $75.74 |
ASE TECHNOLOGY HOLDING CO LTD | 3.90% | $86.63M | 4.1M | $21.37 |
HNHAFHON HAI PRECISION INDUSTRY COMPANY LTD | 3.80% | $84.24M | 10.7M | $7.89 |
CHINA CONSTRUCTION BANK CORP | 3.13% | $69.34M | 67.4M | $1.03 |
CONTEMPORARY AMPEREX TECHNOLOGY CO LTD | 3.06% | $68.00M | 1.2M | $57.92 |
CPACOPA HOLDINGS SA | 2.95% | $65.40M | 420.4K | $155.57 |
WEICHAI POWER CO LTD | 2.91% | $64.64M | 16.1M | $4.02 |
KT&G CORP | 2.61% | $57.97M | 528.4K | $109.71 |
TIGOMILLICOM INTERNATIONAL CELLULAR SA | 2.45% | $54.29M | 598.1K | $90.76 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
All 78 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 97.17% |
| Cash & short-term | 2.23% |
Derivatives are shown at market value, not notional exposure.
How it has done
CEMGX share class · total returns with dividends reinvested
Volatility over the last 12 months: 21.71%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 4 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| — | +54.11% | +108.12% | +85.84% | -11.59% | |
| — | +55.65% | +114.52% | +95.27% | -11.53% | |
| — | +55.34% | +112.92% | +92.76% | -11.53% | |
| — | — | — | — | — |
Fees & fund details
Cullen Emerging Markets High Dividend Fund is an actively managed emerging-markets equity fund.
- Asset class
- Equity
- Region
- Emerging markets
- Management
- Actively managed
- Fund type
- Open-end fund
- Portfolio turnover
- 118.00% a year · as of 2025 Q4
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
11 new· the largest 8
11 exited· the largest 8
Understand how this fund fits with the rest.
Explore shared holdings, compare funds and follow their businesses with your connected AI:
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