# Cullen Capital Management, LLC

> Cullen Capital Management, LLC is an SEC-registered investment advisory firm in New York, NY, registered since 2000, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 27, 2026.

- CRD: 113128
- Filed as: CULLEN CAPITAL MANAGEMENT, LLC
- Also doing business as: CULLEN CAPITAL MANAGEMENT, LLC DBA SCHAFER CULLEN CAPITAL MANAGEMENT, INC.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: March 27, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/113128
- AdvisorCensus page: https://advisorcensus.com/firm/cullen-capital-management-llc-new-york-ny-113128

## Quick answers

**How is Cullen Capital Management, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Cullen Capital Management, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**Where is Cullen Capital Management, LLC located?**
Cullen Capital Management, LLC's principal office is in New York, NY, according to its Form ADV.

**Is Cullen Capital Management, LLC registered with the SEC or a state?**
Cullen Capital Management, LLC is an SEC-registered investment advisory firm, registered since 2000. Status as filed: Approved. CRD 113128.

**How much does Cullen Capital Management, LLC manage?**
Cullen Capital Management, LLC reports $11,577,260,992 in regulatory assets under management in its Form ADV filing dated March 27, 2026 (100% discretionary).

**How have Cullen Capital Management, LLC's assets and staff changed since 2021?**
In the Form ADV data for Cullen Capital Management, LLC: Regulatory assets under management: $6,997,063,752 in the October 2021 data and $11,577,260,992 in the October 2026 data, up 65%. Total employees: 60 in October 2021 and 64 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Cullen Capital Management, LLC serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (7,940); corporations or other businesses not listed above (303); charitable organizations (115).

**Which custodians does Cullen Capital Management, LLC use?**
Cullen Capital Management, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., J.P. Morgan Securities LLC and UBS Securities LLC as custodians holding 10% or more of its separately managed account assets.

**Does Cullen Capital Management, LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/113128

**What changed in Cullen Capital Management, LLC's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $9,089,890,870 to $11,577,260,992 (+27%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- J.P. Morgan Securities LLC
- UBS Securities LLC

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $11,577,260,992
- Discretionary: $11,577,260,992
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| High net worth individuals | 7,940 | $6,001,659,961 |
| Investment companies | 17 | $4,394,438,831 |
| Pooled investment vehicles (other than investment companies and business development companies) | 3 | $23,785,334 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 39 | $130,101,741 |
| Charitable organizations | 115 | $309,346,041 |
| State or municipal government entities (including government pension plans) | Fewer than 5 | $154,548,410 |
| Insurance companies | Fewer than 5 | $6,995,752 |
| Corporations or other businesses not listed above | 303 | $556,384,922 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2000 (26 years)
- Employees: 64 total, 17 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- cullenfunds.com
- LinkedIn @schafer-cullen-cullen-funds

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $6,997,063,752 | 60 | March 30, 2021 |
| October 2022 | $9,157,186,354 | 63 | August 29, 2022 |
| October 2023 | $9,401,165,800 | 62 | March 31, 2023 |
| October 2024 | $8,987,685,172 | 63 | March 28, 2024 |
| October 2025 | $9,089,890,870 | 64 | March 31, 2025 |
| October 2026 | $11,577,260,992 | 64 | March 27, 2026 |

Regulatory assets under management: $6,997,063,752 in the October 2021 data and $11,577,260,992 in the October 2026 data, up 65%.
Total employees: 60 in October 2021 and 64 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $9,089,890,870 to $11,577,260,992 (+27%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Cullen Capital Management, LLC (CRD 113128): Form ADV filing data as of October 2026.