Copeland Capital Management 13FHR Quarterly holdings report by institutional manager | SEC 21 Oct 24

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
ASML HOLDING N V N Y REGISTRY	ADR	N07059210	2,500	3	SH		SOLE		3	0	0
ASSA ABLOY AB ADR	ADR	045387107	2,923	174	SH		SOLE		174	0	0
BAE SYSTEMS PLC SPONSORED ADR	ADR	05523R107	2,654	40	SH		SOLE		40	0	0
BRENNTAG SE UNSPONSORD ADR	ADR	107180101	2,650	178	SH		SOLE		178	0	0
BUREAU VERITAS SA UNSPONSORED	ADR	12117P109	2,917	44	SH		SOLE		44	0	0
CRH PLC	ADR	G25508105	8,532	92	SH		SOLE		24	0	68
CRODA INTL PLC UNSPONSORD ADR	ADR	227047305	2,051	73	SH		SOLE		73	0	0
DBS GROUP HOLDINGS LTD SPONSOR	ADR	23304Y100	3,657	31	SH		SOLE		31	0	0
DIAGEO PLC SPON ADR NEW	ADR	25243Q205	3,087	22	SH		SOLE		22	0	0
DNB BANK ASA SPONSORED	ADR	23341C103	2,871	140	SH		SOLE		140	0	0
IBERDROLA S A SPON ADR	ADR	450737101	4,029	65	SH		SOLE		65	0	0
KION GROUP AG ADR	ADR	497216101	2,159	221	SH		SOLE		221	0	0
LONZA GROUP AG UNSPONSORED ADR	ADR	54338V101	2,906	46	SH		SOLE		46	0	0
LVMH MOET HENNESSY LOU VUITTON	ADR	502441306	3,533	23	SH		SOLE		23	0	0
MURATA MANUFACTURING CO LTD UN	ADR	626425102	3,735	380	SH		SOLE		380	0	0
NESTLE S A SPONSORED ADR	ADR	641069406	3,423	34	SH		SOLE		34	0	0
NIDEC CORP SPONSORED ADR	ADR	654090109	10,458	996	SH		SOLE		286	0	710
NITORI HOLDINGS CO LTD UNSPONS	ADR	65479L108	11,315	764	SH		SOLE		219	0	545
NOVO-NORDISK A S ADR	ADR	670100205	12,740	107	SH		SOLE		33	0	74
NOVONESIS (NOVOZYMES) B UNSPON	ADR	670108109	3,240	45	SH		SOLE		45	0	0
RECRUIT HLDGS CO LTD UNSPONSOR	ADR	75629J101	3,433	283	SH		SOLE		283	0	0
RENTOKIL INITIAL PLC SPONSORED	ADR	760125104	2,643	106	SH		SOLE		106	0	0
ROCHE HLDG LTD SPONSORED ADR	ADR	771195104	3,635	91	SH		SOLE		91	0	0
SHENZHOU INTL GROUP HLDGS LTD	ADR	82322R109	2,476	283	SH		SOLE		283	0	0
SHIMANO INC UNSPONSORD ADR	ADR	82455C101	10,817	576	SH		SOLE		159	0	417
SHIN ETSU CHEMICAL CO LTD ADR	ADR	824551105	1,770	85	SH		SOLE		85	0	0
SIKA AG UNSPONSORD ADR	ADR	82674R103	3,177	96	SH		SOLE		96	0	0
SODEXO SPONSORED ADR	ADR	833792104	2,487	152	SH		SOLE		152	0	0
SONY GROUP CORP SPONSORED ADR	ADR	835699307	17,093	177	SH		SOLE		53	0	124
SVENSKA HANDELSBANKEN ADR	ADR	86959C103	3,016	596	SH		SOLE		596	0	0
SYSMEX CORP UNSPONSORED ADR	ADR	87184P109	2,059	105	SH		SOLE		105	0	0
TDK CORP AMERN DEP SH	ADR	872351408	10,311	162	SH		SOLE		40	0	122
TECHTRONIC INDS LTD SPONSORED	ADR	87873R101	12,726	169	SH		SOLE		42	0	127
TENCENT HOLDINGS LIMITED UNSPO	ADR	88032Q109	11,357	205	SH		SOLE		56	0	149
THALES UNSPONSORD ADR	ADR	883219206	3,071	97	SH		SOLE		97	0	0
TRASMISSIONE ELETTRICITA RETE	ADR	88088L103	3,138	116	SH		SOLE		116	0	0
UNILEVER PLC SPON ADR NEW	ADR	904767704	3,248	50	SH		SOLE		50	0	0
WOLTERS KLUWER N V SPONSORED A	ADR	977874205	3,019	18	SH		SOLE		18	0	0
FIRSTSERVICE CORP NEW	COM	00BJMKSJ5	2,139,071	11,693	SH		SOLE		11,693	0	0
WARPAINT LONDON PLC ORD GBP0.2	COM	00BYMF367	1,933,675	252,073	SH		SOLE		252,073	0	0
3M CO	COM	88579Y101	205,050	1,500	SH		SOLE		0	0	1,500
A10 NETWORKS INC	COM	002121101	43,450	3,009	SH		SOLE		3,009	0	0
ABBOTT LABS	COM	002824100	142,284	1,248	SH		SOLE		0	0	1,248
ABBVIE INC	COM	00287Y109	261,266	1,323	SH		SOLE		0	0	1,323
ABM INDUSTRIES INC	COM	000957100	37,204	705	SH		DFND	5	0	705	0
ACCENTURE PLC IRELAND SHS CLAS	COM	G1151C101	4,912,473	13,897	SH		SOLE		12,917	0	980
ACCENTURE PLC IRELAND SHS CLAS	COM	G1151C101	7,471,153	21,136	SH		DFND	4	0	21,136	0
ADVANSIX INC	COM	00773T101	41,317	1,360	SH		SOLE		1,360	0	0
AGILENT TECHNOLOGIES INC	COM	00846U101	4,306	29	SH		SOLE		29	0	0
AIR LEASE CORP CL A	COM	00912X302	68,994,712	1,523,398	SH		SOLE		1,261,678	0	261,721
AIR LEASE CORP CL A	COM	00912X302	9,732,665	214,897	SH		DFND	5	0	214,897	0
AIR LEASE CORP CL A	COM	00912X302	4,198,338	92,699	SH		DFND	4	0	92,699	0
ALEXANDRIA REAL ESTATE EQ INC	COM	015271109	1,180,536	9,941	SH		SOLE		8,598	0	1,344
ALLIENT INC	COM	019330109	50,248	2,646	SH		SOLE		2,646	0	0
ALLISON TRANSMISSION HLDGS INC	COM	01973R101	49,843,575	518,826	SH		SOLE		425,877	0	92,948
ALLISON TRANSMISSION HLDGS INC	COM	01973R101	7,910,181	82,338	SH		DFND	5	0	82,338	0
ALLISON TRANSMISSION HLDGS INC	COM	01973R101	3,366,389	35,041	SH		DFND	4	0	35,041	0
ALLSTATE CORP	COM	020002101	1,024,811	5,404	SH		SOLE		4,486	0	918
AMDOCS LTD	COM	G02602103	4,549	52	SH		SOLE		52	0	0
AMERICAN TOWER CORP NEW	COM	03027X100	334,421	1,438	SH		SOLE		959	0	479
AMERICAN WTR WKS CO INC NEW	COM	030420103	1,334,342	9,124	SH		SOLE		7,529	0	1,595
AMERIPRISE FINL INC	COM	03076C106	6,934,875	14,761	SH		SOLE		13,201	0	1,561
AMERIPRISE FINL INC	COM	03076C106	13,231,729	28,164	SH		DFND	4	0	28,164	0
AMGEN INC	COM	031162100	132,428	411	SH		SOLE		411	0	0
AMPHENOL CORP NEW CL A	COM	032095101	1,386,063	21,272	SH		SOLE		18,252	0	3,020
APPLE INC	COM	037833100	9,448,405	40,551	SH		SOLE		35,351	0	5,200
APPLE INC	COM	037833100	16,876,656	72,432	SH		DFND	4	0	72,432	0
APPLIED MATLS INC	COM	038222105	5,253	26	SH		SOLE		26	0	0
ARGAN INC	COM	04010E109	56,497	557	SH		SOLE		557	0	0
ARKO CORP	COM	041242108	38,666	5,508	SH		SOLE		5,508	0	0
AT&T INC	COM	00206R102	12,144	552	SH		SOLE		552	0	0
ATLAS ENERGY SOLUTIONS INC COM	COM	642045108	41,071,897	1,884,032	SH		SOLE		1,468,811	0	415,221
ATN INTL INC	COM	00215F107	59,020	1,825	SH		SOLE		1,825	0	0
AUTOMATIC DATA PROCESSING INC	COM	053015103	5,261,023	19,011	SH		SOLE		16,798	0	2,213
AUTOMATIC DATA PROCESSING INC	COM	053015103	9,815,890	35,471	SH		DFND	4	0	35,471	0
BADGER METER INC	COM	056525108	218	1	SH		DFND	5	0	1	0
BANK OZK	COM	06417N103	288,167	6,703	SH		DFND	5	0	6,703	0
BANK7 CORP	COM	06652N107	48,111	1,284	SH		SOLE		1,284	0	0
BENTLEY SYS INC COM CL B	COM	08265T208	21,268,765	418,594	SH		SOLE		379,058	0	39,536
BENTLEY SYS INC COM CL B	COM	08265T208	9,330,112	183,627	SH		DFND	5	0	183,627	0
BENTLEY SYS INC COM CL B	COM	08265T208	4,153,260	81,741	SH		DFND	4	0	81,741	0
BEST BUY INC	COM	086516101	4,545	44	SH		SOLE		44	0	0
BLACKROCK INC	COM	09290D101	282,954	298	SH		SOLE		183	0	115
BOOZ ALLEN HAMILTON HLDG CORP	COM	099502106	26,703,424	164,066	SH		SOLE		148,364	0	15,702
BOOZ ALLEN HAMILTON HLDG CORP	COM	099502106	12,350,768	75,883	SH		DFND	5	0	75,883	0
BOOZ ALLEN HAMILTON HLDG CORP	COM	099502106	5,215,156	32,042	SH		DFND	4	0	32,042	0
BROADCOM INC	COM	11135F101	11,756,839	68,156	SH		SOLE		59,262	0	8,894
BROADCOM INC	COM	11135F101	23,090,677	133,859	SH		DFND	4	0	133,859	0
BROADRIDGE FINL SOLUTIONS INC	COM	11133T103	21,518,566	100,072	SH		SOLE		89,811	0	10,262
BROADRIDGE FINL SOLUTIONS INC	COM	11133T103	9,592,911	44,612	SH		DFND	5	0	44,612	0
BROADRIDGE FINL SOLUTIONS INC	COM	11133T103	4,040,629	18,791	SH		DFND	4	0	18,791	0
BROOKFIELD ASSET MANAGMT LTD C	COM	113004105	1,246,300	26,354	SH		SOLE		22,721	0	3,633
BROOKFIELD INFRASTRUCTURE CORP	COM	11275Q107	74,698,789	1,719,981	SH		SOLE		1,401,220	0	318,761
BROOKFIELD INFRASTRUCTURE CORP	COM	11275Q107	11,048,775	254,404	SH		DFND	5	0	254,404	0
BROOKFIELD INFRASTRUCTURE CORP	COM	11275Q107	4,668,378	107,492	SH		DFND	4	0	107,492	0
BRUNSWICK CORP	COM	117043109	66,753,997	796,397	SH		SOLE		650,562	0	145,835
BRUNSWICK CORP	COM	117043109	8,891,495	106,078	SH		DFND	5	0	106,078	0
BRUNSWICK CORP	COM	117043109	3,907,605	46,619	SH		DFND	4	0	46,619	0
BWX TECHNOLOGIES INC	COM	05605H100	65,413,894	601,784	SH		SOLE		489,721	0	112,063
BWX TECHNOLOGIES INC	COM	05605H100	8,387,156	77,159	SH		DFND	5	0	77,159	0
BWX TECHNOLOGIES INC	COM	05605H100	3,568,621	32,830	SH		DFND	4	0	32,830	0
CABLE ONE INC	COM	12685J105	50,715	145	SH		SOLE		144	0	1
CABOT CORP	COM	127055101	63,525,307	568,357	SH		SOLE		454,492	0	113,866
CABOT CORP	COM	127055101	4,550,143	40,710	SH		DFND	5	0	40,710	0
CABOT CORP	COM	127055101	1,920,879	17,186	SH		DFND	4	0	17,186	0
CANADIAN NAT RES LTD	COM	136385101	3,387	102	SH		SOLE		102	0	0
CARLISLE COS INC	COM	142339100	21,189,583	47,114	SH		SOLE		42,762	0	4,352
CARLISLE COS INC	COM	142339100	10,286,718	22,872	SH		DFND	5	0	22,872	0
CARLISLE COS INC	COM	142339100	4,350,881	9,674	SH		DFND	4	0	9,674	0
CASEYS GEN STORES INC	COM	147528103	66,352,649	176,606	SH		SOLE		147,288	0	29,318
CASEYS GEN STORES INC	COM	147528103	10,711,486	28,510	SH		DFND	5	0	28,510	0
CASEYS GEN STORES INC	COM	147528103	16,639,444	44,288	SH		DFND	4	0	44,288	0
CASS INFORMATION SYS INC	COM	14808P109	37,291	899	SH		SOLE		899	0	0
CDW CORP	COM	12514G108	5,323,659	23,525	SH		SOLE		21,310	0	2,215
CDW CORP	COM	12514G108	9,655,542	42,667	SH		DFND	4	0	42,667	0
CHAMPIONX CORPORATION	COM	15872M104	16,873,538	559,653	SH		SOLE		507,926	0	51,727
CHAMPIONX CORPORATION	COM	15872M104	6,297,406	208,869	SH		DFND	5	0	208,869	0
CHAMPIONX CORPORATION	COM	15872M104	3,453,502	114,544	SH		DFND	4	0	114,544	0
CHEMED CORP NEW	COM	16359R103	65,477,467	108,953	SH		SOLE		88,817	0	20,136
CHEMED CORP NEW	COM	16359R103	8,791,641	14,629	SH		DFND	5	0	14,629	0
CHEMED CORP NEW	COM	16359R103	3,730,221	6,207	SH		DFND	4	0	6,207	0
CHENIERE ENERGY INC COM NEW	COM	16411R208	4,069,229	22,627	SH		SOLE		20,806	0	1,821
CHENIERE ENERGY INC COM NEW	COM	16411R208	7,369,304	40,977	SH		DFND	4	0	40,977	0
CHESAPEAKE UTILS CORP	COM	165303108	59,783,077	481,462	SH		SOLE		396,173	0	85,289
CHESAPEAKE UTILS CORP	COM	165303108	9,622,144	77,492	SH		DFND	5	0	77,492	0
CHESAPEAKE UTILS CORP	COM	165303108	4,161,806	33,517	SH		DFND	4	0	33,517	0
CHORD ENERGY CORPORATION COM N	COM	674215207	48,619,438	373,335	SH		SOLE		301,032	0	72,303
CHORD ENERGY CORPORATION COM N	COM	674215207	5,449,088	41,842	SH		DFND	5	0	41,842	0
CHORD ENERGY CORPORATION COM N	COM	674215207	2,418,632	18,572	SH		DFND	4	0	18,572	0
CHUBB LIMITED	COM	H1467J104	15,573	54	SH		SOLE		25	0	29
CHURCH & DWIGHT CO INC	COM	171340102	265,256	2,533	SH		SOLE		1,333	0	1,200
CHURCHILL DOWNS INC	COM	171484108	21,921,412	162,129	SH		SOLE		146,576	0	15,553
CHURCHILL DOWNS INC	COM	171484108	10,124,170	74,877	SH		DFND	5	0	74,877	0
CHURCHILL DOWNS INC	COM	171484108	4,288,726	31,719	SH		DFND	4	0	31,719	0
CIVITAS RESOURCES INC COM NEW	COM	17888H103	45,001,465	888,128	SH		SOLE		722,522	0	165,606
CIVITAS RESOURCES INC COM NEW	COM	17888H103	4,537,259	89,545	SH		DFND	5	0	89,545	0
CIVITAS RESOURCES INC COM NEW	COM	17888H103	2,473,051	48,807	SH		DFND	4	0	48,807	0
COGENT COMMUNICATIONS HLDGS IN	COM	19239V302	47,035,059	619,534	SH		SOLE		508,720	0	110,815
COGENT COMMUNICATIONS HLDGS IN	COM	19239V302	7,456,582	98,216	SH		DFND	5	0	98,216	0
COGENT COMMUNICATIONS HLDGS IN	COM	19239V302	3,152,882	41,529	SH		DFND	4	0	41,529	0
COGNEX CORP	COM	192422103	59,727,572	1,474,755	SH		SOLE		1,210,038	0	264,717
COGNEX CORP	COM	192422103	8,044,837	198,638	SH		DFND	5	0	198,638	0
COGNEX CORP	COM	192422103	3,808,336	94,033	SH		DFND	4	0	94,033	0
COGNIZANT TECHNOLOGY SOLUTIONS	COM	192446102	4,476	58	SH		SOLE		58	0	0
COHEN & STEERS INC	COM	19247A100	85,174,251	887,694	SH		SOLE		729,897	0	157,797
COHEN & STEERS INC	COM	19247A100	13,669,910	142,469	SH		DFND	5	0	142,469	0
COHEN & STEERS INC	COM	19247A100	5,846,617	60,934	SH		DFND	4	0	60,934	0
COMCAST CORP NEW CL A	COM	20030N101	3,007	72	SH		SOLE		72	0	0
CONCENTRIX CORP	COM	20602D101	42,754,245	834,229	SH		SOLE		682,063	0	152,166
CONCENTRIX CORP	COM	20602D101	6,009,254	117,254	SH		DFND	5	0	117,254	0
CONCENTRIX CORP	COM	20602D101	2,659,465	51,892	SH		DFND	4	0	51,892	0
CONNECTONE BANCORP INC	COM	20786W107	52,580	2,099	SH		SOLE		2,099	0	0
CONSOLIDATED WATER CO INC	COM	G23773107	48,328	1,917	SH		SOLE		1,917	0	0
CONSTELLATION BRANDS INC CL A	COM	21036P108	4,880,705	18,940	SH		SOLE		17,372	0	1,568
CONSTELLATION BRANDS INC CL A	COM	21036P108	9,604,622	37,272	SH		DFND	4	0	37,272	0
CORTEVA INC	COM	22052L104	242,636	4,127	SH		SOLE		4,127	0	0
COSTCO WHSL CORP NEW	COM	22160K105	5,922,787	6,681	SH		SOLE		5,847	0	834
COSTCO WHSL CORP NEW	COM	22160K105	11,712,702	13,212	SH		DFND	4	0	13,212	0
COTERRA ENERGY INC	COM	127097103	4,287	179	SH		SOLE		179	0	0
COTERRA ENERGY INC	COM	127097103	2,443	102	SH		DFND	5	0	102	0
CRA INTL INC	COM	12618T105	49,126,512	280,211	SH		SOLE		218,427	0	61,784
CSG SYS INTL INC	COM	126349109	60,521	1,244	SH		SOLE		1,244	0	0
CSP INC	COM	126389105	42,282	3,255	SH		SOLE		3,255	0	0
CTO RLTY GROWTH INC NEW	COM	22948Q101	48,957	2,574	SH		SOLE		2,574	0	0
CUBESMART	COM	229663109	18,250,254	339,035	SH		SOLE		306,183	0	32,852
CUBESMART	COM	229663109	9,144,622	169,880	SH		DFND	5	0	169,880	0
CUBESMART	COM	229663109	3,888,841	72,243	SH		DFND	4	0	72,243	0
DELL TECHNOLOGIES INC CL C	COM	24703L202	4,386	37	SH		SOLE		37	0	0
DIAMONDBACK ENERGY INC	COM	25278X109	5,984,629	34,714	SH		SOLE		32,064	0	2,650
DIAMONDBACK ENERGY INC	COM	25278X109	7,586	44	SH		DFND	5	0	44	0
DIAMONDBACK ENERGY INC	COM	25278X109	11,716,304	67,960	SH		DFND	4	0	67,960	0
DICKS SPORTING GOODS INC	COM	253393102	20,749,789	99,424	SH		SOLE		90,399	0	9,025
DICKS SPORTING GOODS INC	COM	253393102	9,934,458	47,602	SH		DFND	5	0	47,602	0
DICKS SPORTING GOODS INC	COM	253393102	4,162,939	19,947	SH		DFND	4	0	19,947	0
DISCOVER FINANCIAL SERVICES	COM	254709108	701	5	SH		DFND	5	0	5	0
DOMINOS PIZZA INC	COM	25754A201	20,933,718	48,667	SH		SOLE		43,984	0	4,683
DOMINOS PIZZA INC	COM	25754A201	9,279,191	21,572	SH		DFND	5	0	21,572	0
DOMINOS PIZZA INC	COM	25754A201	4,037,294	9,386	SH		DFND	4	0	9,386	0
EASTGROUP PPTYS INC	COM	277276101	217,645	1,165	SH		SOLE		1,165	0	0
ELANCO ANIMAL HEALTH INC	COM	28414H103	14,440	983	SH		SOLE		0	0	983
ELEMENT SOLUTIONS INC	COM	28618M106	113,292	4,171	SH		DFND	5	0	4,171	0
ELI LILLY & CO	COM	532457108	8,134,917	9,182	SH		SOLE		7,138	0	2,044
ELI LILLY & CO	COM	532457108	14,340,711	16,187	SH		DFND	4	0	16,187	0
EMBECTA CORP COMMON STOCK	COM	29082K105	43,132	3,059	SH		SOLE		3,059	0	0
ENCOMPASS HEALTH CORP	COM	29261A100	103,084,236	1,066,683	SH		SOLE		872,064	0	194,619
ENCOMPASS HEALTH CORP	COM	29261A100	14,945,096	154,647	SH		DFND	5	0	154,647	0
ENCOMPASS HEALTH CORP	COM	29261A100	6,109,581	63,220	SH		DFND	4	0	63,220	0
ENSIGN GROUP INC	COM	29358P101	113,965,796	792,420	SH		SOLE		644,559	0	147,861
ENSIGN GROUP INC	COM	29358P101	14,598,677	101,507	SH		DFND	5	0	101,507	0
ENSIGN GROUP INC	COM	29358P101	6,127,883	42,608	SH		DFND	4	0	42,608	0
ENTEGRIS INC	COM	29362U104	6,501	58	SH		DFND	5	0	58	0
EQUINIX INC	COM	29444U700	5,316,235	5,989	SH		SOLE		5,413	0	576
EQUINIX INC	COM	29444U700	10,777,603	12,142	SH		DFND	4	0	12,142	0
EQUITY LIFESTYLE PPTYS INC	COM	29472R108	1,105,771	15,500	SH		SOLE		13,347	0	2,153
ESQUIRE FINL HLDGS INC	COM	29667J101	63,515	974	SH		SOLE		974	0	0
EXP WORLD HLDGS INC	COM	30212W100	46,524,161	3,301,928	SH		SOLE		2,705,562	0	596,366
EXP WORLD HLDGS INC	COM	30212W100	7,067,190	501,575	SH		DFND	5	0	501,575	0
EXP WORLD HLDGS INC	COM	30212W100	2,928,959	207,875	SH		DFND	4	0	207,875	0
EXXON MOBIL CORP	COM	30231G102	366,312	3,125	SH		SOLE		125	0	3,000
FACTSET RESH SYS INC	COM	303075105	18,878,924	41,055	SH		SOLE		36,845	0	4,209
FACTSET RESH SYS INC	COM	303075105	8,436,457	18,346	SH		DFND	5	0	18,346	0
FACTSET RESH SYS INC	COM	303075105	3,626,377	7,886	SH		DFND	4	0	7,886	0
FEDERAL AGRIC MTG CORP CL C	COM	313148306	54,447,606	290,527	SH		SOLE		226,258	0	64,269
FIRSTSERVICE CORP NEW SUB VTG	COM	33767E202	54,428,977	298,306	SH		SOLE		241,978	0	56,328
FIRSTSERVICE CORP NEW SUB VTG	COM	33767E202	6,954,260	38,114	SH		DFND	5	0	38,114	0
FIRSTSERVICE CORP NEW SUB VTG	COM	33767E202	3,086,676	16,917	SH		DFND	4	0	16,917	0
FORTIS INC	COM	349553107	2,590	57	SH		SOLE		57	0	0
FS BANCORP INC	COM	30263Y104	62,330	1,401	SH		SOLE		1,401	0	0
GCM GROSVENOR INC COM CL A	COM	36831E108	57,528	5,082	SH		SOLE		5,082	0	0
GE AEROSPACE COM NEW	COM	369604301	48,300	256	SH		SOLE		0	0	256
GE VERNOVA INC	COM	36828A101	16,319	64	SH		SOLE		0	0	64
GFL ENVIRONMENTAL INC SUB VTG	COM	36168Q104	21,326,428	534,765	SH		SOLE		483,355	0	51,410
GFL ENVIRONMENTAL INC SUB VTG	COM	36168Q104	10,871,756	272,612	SH		DFND	5	0	272,612	0
GFL ENVIRONMENTAL INC SUB VTG	COM	36168Q104	4,546,320	114,000	SH		DFND	4	0	114,000	0
GLOBAL INDUSTRIAL COMPANY	COM	37892E102	60,908	1,793	SH		SOLE		1,793	0	0
GLOBE LIFE INC	COM	37959E102	2,965	28	SH		SOLE		28	0	0
GORMAN RUPP CO	COM	383082104	58,035	1,490	SH		SOLE		1,490	0	0
HAMILTON LANE INC CL A	COM	407497106	121,702,766	722,743	SH		SOLE		589,297	0	133,446
HAMILTON LANE INC CL A	COM	407497106	16,635,425	98,791	SH		DFND	5	0	98,791	0
HAMILTON LANE INC CL A	COM	407497106	7,049,311	41,863	SH		DFND	4	0	41,863	0
HEALTHSTREAM INC	COM	42222N103	62,640	2,172	SH		SOLE		2,172	0	0
HENRY JACK & ASSOC INC	COM	426281101	19,463,961	110,252	SH		SOLE		99,679	0	10,573
HENRY JACK & ASSOC INC	COM	426281101	8,788,618	49,783	SH		DFND	5	0	49,783	0
HENRY JACK & ASSOC INC	COM	426281101	3,764,892	21,326	SH		DFND	4	0	21,326	0
HEXCEL CORP NEW	COM	428291108	60,448,541	977,657	SH		SOLE		798,784	0	178,873
HEXCEL CORP NEW	COM	428291108	7,758,928	125,488	SH		DFND	5	0	125,488	0
HEXCEL CORP NEW	COM	428291108	3,602,834	58,270	SH		DFND	4	0	58,270	0
HINGHAM INSTN SVGS MASS	COM	433323102	61,071	251	SH		SOLE		251	0	0
HOME BANCSHARES INC	COM	436893200	72,941,590	2,692,565	SH		SOLE		2,197,882	0	494,683
HOME BANCSHARES INC	COM	436893200	10,306,759	380,464	SH		DFND	5	0	380,464	0
HOME BANCSHARES INC	COM	436893200	4,540,690	167,615	SH		DFND	4	0	167,615	0
HOME DEPOT INC	COM	437076102	5,638,679	13,916	SH		SOLE		12,421	0	1,495
HOME DEPOT INC	COM	437076102	10,455,376	25,803	SH		DFND	4	0	25,803	0
HOOKER FURNISHINGS CORPORATION	COM	439038100	36,811	2,036	SH		SOLE		2,036	0	0
HUMANA INC	COM	444859102	256,243	809	SH		SOLE		809	0	0
HUNT J B TRANS SVCS INC	COM	445658107	1,169,310	6,785	SH		SOLE		5,875	0	910
HUNTINGTON INGALLS INDS INC	COM	446413106	13,502,151	51,071	SH		SOLE		46,506	0	4,565
HUNTINGTON INGALLS INDS INC	COM	446413106	6,358,194	24,049	SH		DFND	5	0	24,049	0
HUNTINGTON INGALLS INDS INC	COM	446413106	2,671,824	10,106	SH		DFND	4	0	10,106	0
IMMERSION CORP	COM	452521107	58,738	6,585	SH		SOLE		6,585	0	0
INFORMATION SVCS GROUP INC	COM	45675Y104	32,248	9,772	SH		SOLE		9,772	0	0
INSPERITY INC	COM	45778Q107	34,031,314	386,719	SH		SOLE		317,794	0	68,926
INSPERITY INC	COM	45778Q107	5,093,730	57,883	SH		DFND	5	0	57,883	0
INSPERITY INC	COM	45778Q107	2,324,520	26,415	SH		DFND	4	0	26,415	0
INTER PARFUMS INC	COM	458334109	16,732,611	129,229	SH		SOLE		104,226	0	25,003
INTER PARFUMS INC	COM	458334109	2,037,610	15,737	SH		DFND	5	0	15,737	0
INTER PARFUMS INC	COM	458334109	733,504	5,665	SH		DFND	4	0	5,665	0
INTUIT	COM	461202103	6,120,624	9,856	SH		SOLE		8,684	0	1,172
INTUIT	COM	461202103	11,625,741	18,721	SH		DFND	4	0	18,721	0
INVESTAR HLDG CORP	COM	46134L105	56,997	2,938	SH		SOLE		2,938	0	0
IRADIMED CORP	COM	46266A109	21,243,751	422,425	SH		SOLE		329,304	0	93,121
ITURAN LOCATION AND CONTROL	COM	M6158M104	50,108	1,888	SH		SOLE		1,888	0	0
JOHNSON & JOHNSON	COM	478160104	296,246	1,828	SH		SOLE		18	0	1,810
JPMORGAN CHASE & CO.	COM	46625H100	5,357,037	25,406	SH		SOLE		22,924	0	2,482
JPMORGAN CHASE & CO.	COM	46625H100	11,402,254	54,075	SH		DFND	4	0	54,075	0
KARAT PACKAGING INC	COM	48563L101	48,725	1,882	SH		SOLE		1,882	0	0
KFORCE INC	COM	493732101	33,134,165	539,205	SH		SOLE		420,151	0	119,054
KINSALE CAP GROUP INC	COM	49714P108	77,927,389	167,381	SH		SOLE		139,100	0	28,280
KINSALE CAP GROUP INC	COM	49714P108	12,220,635	26,249	SH		DFND	5	0	26,249	0
KINSALE CAP GROUP INC	COM	49714P108	17,539,419	37,673	SH		DFND	4	0	37,673	0
KROGER CO	COM	501044101	3,954	69	SH		SOLE		69	0	0
KULICKE & SOFFA INDS INC	COM	501242101	55,846,661	1,237,462	SH		SOLE		1,015,358	0	222,104
KULICKE & SOFFA INDS INC	COM	501242101	6,687,316	148,179	SH		DFND	5	0	148,179	0
KULICKE & SOFFA INDS INC	COM	501242101	3,785,279	83,875	SH		DFND	4	0	83,875	0
LAKELAND FINL CORP	COM	511656100	48,575,573	745,939	SH		SOLE		580,872	0	165,067
LANDSTAR SYS INC	COM	515098101	60,531,714	320,494	SH		SOLE		262,519	0	57,975
LANDSTAR SYS INC	COM	515098101	8,900,574	47,125	SH		DFND	5	0	47,125	0
LANDSTAR SYS INC	COM	515098101	3,876,179	20,523	SH		DFND	4	0	20,523	0
LEMAITRE VASCULAR INC	COM	525558201	90,189,632	970,929	SH		SOLE		793,056	0	177,874
LEMAITRE VASCULAR INC	COM	525558201	12,541,914	135,019	SH		DFND	5	0	135,019	0
LEMAITRE VASCULAR INC	COM	525558201	5,335,973	57,444	SH		DFND	4	0	57,444	0
LINDE PLC	COM	G54950103	16,690	35	SH		SOLE		18	0	17
LITTELFUSE INC	COM	537008104	57,616,087	217,214	SH		SOLE		177,255	0	39,960
LITTELFUSE INC	COM	537008104	8,164,474	30,780	SH		DFND	5	0	30,780	0
LITTELFUSE INC	COM	537008104	3,485,385	13,140	SH		DFND	4	0	13,140	0
MAGIC SOFTWARE ENTERPRISES LTD	COM	559166103	47,245	3,997	SH		SOLE		3,997	0	0
MARRIOTT INTL INC NEW CL A	COM	571903202	5,080,015	20,434	SH		SOLE		18,731	0	1,703
MARRIOTT INTL INC NEW CL A	COM	571903202	11,026,156	44,353	SH		DFND	4	0	44,353	0
MATADOR RES CO	COM	576485205	15,662,433	316,925	SH		SOLE		287,608	0	29,317
MATADOR RES CO	COM	576485205	7,035,736	142,366	SH		DFND	5	0	142,366	0
MATADOR RES CO	COM	576485205	3,179,189	64,330	SH		DFND	4	0	64,330	0
MATERION CORP	COM	576690101	45,186,156	403,953	SH		SOLE		314,708	0	89,245
MCDONALDS CORP	COM	580135101	126,676	416	SH		SOLE		0	0	416
MCKESSON CORP	COM	58155Q103	4,450	9	SH		SOLE		9	0	0
MERCK & CO INC	COM	58933Y105	68,136	600	SH		SOLE		0	0	600
MICROCHIP TECHNOLOGY INC.	COM	595017104	3,613	45	SH		SOLE		45	0	0
MICROSOFT CORP	COM	594918104	9,371,846	21,780	SH		SOLE		18,588	0	3,192
MICROSOFT CORP	COM	594918104	18,653,075	43,349	SH		DFND	4	0	43,349	0
MID-AMER APT CMNTYS INC	COM	59522J103	3,655	23	SH		SOLE		23	0	0
MONOLITHIC PWR SYS INC	COM	609839105	5,415,729	5,858	SH		SOLE		5,255	0	603
MONOLITHIC PWR SYS INC	COM	609839105	9,042,534	9,781	SH		DFND	4	0	9,781	0
MORGAN STANLEY COM NEW	COM	617446448	6,649,933	63,794	SH		SOLE		57,940	0	5,854
MORGAN STANLEY COM NEW	COM	617446448	625	6	SH		DFND	5	0	6	0
MORGAN STANLEY COM NEW	COM	617446448	13,997,973	134,286	SH		DFND	4	0	134,286	0
MORNINGSTAR INC	COM	617700109	20,366,877	63,822	SH		SOLE		57,950	0	5,872
MORNINGSTAR INC	COM	617700109	9,645,118	30,224	SH		DFND	5	0	30,224	0
MORNINGSTAR INC	COM	617700109	4,144,092	12,986	SH		DFND	4	0	12,986	0
MOTOROLA SOLUTIONS INC	COM	620076307	8,689,046	19,325	SH		SOLE		17,632	0	1,693
MOTOROLA SOLUTIONS INC	COM	620076307	16,605,735	36,932	SH		DFND	4	0	36,932	0
MSC INDUSTRIAL DIRECT CO-A	COM	553530106	430	5	SH		DFND	5	0	5	0
MSCI INC	COM	55354G100	6,117,337	10,494	SH		SOLE		9,527	0	967
MSCI INC	COM	55354G100	11,894,104	20,404	SH		DFND	4	0	20,404	0
NAPCO SEC TECHNOLOGIES INC	COM	630402105	42,002,663	1,038,128	SH		SOLE		809,884	0	228,244
NASDAQ INC	COM	631103108	1,341,025	18,368	SH		SOLE		15,825	0	2,543
NATIONAL HEALTHCARE CORP	COM	635906100	61,502	489	SH		SOLE		489	0	0
NEXPOINT RESIDENTIAL TR INC	COM	65341D102	39,681,161	901,640	SH		SOLE		703,236	0	198,403
NEXPOINT RESIDENTIAL TR INC	COM	65341D102	2,035	46	SH		DFND	5	0	46	0
NEXSTAR MEDIA GROUP INC COMMON	COM	65336K103	67,567,281	408,632	SH		SOLE		336,918	0	71,714
NEXSTAR MEDIA GROUP INC COMMON	COM	65336K103	8,999,796	54,429	SH		DFND	5	0	54,429	0
NEXSTAR MEDIA GROUP INC COMMON	COM	65336K103	13,999,688	84,667	SH		DFND	4	0	84,667	0
NEXTERA ENERGY INC	COM	65339F101	5,578,782	65,998	SH		SOLE		59,669	0	6,328
NEXTERA ENERGY INC	COM	65339F101	11,176,557	132,220	SH		DFND	4	0	132,220	0
NORDSON CORP	COM	655663102	20,048,798	76,339	SH		SOLE		69,037	0	7,301
NORDSON CORP	COM	655663102	9,148,392	34,834	SH		DFND	5	0	34,834	0
NORDSON CORP	COM	655663102	3,885,611	14,795	SH		DFND	4	0	14,795	0
NORTHERN OIL & GAS INC	COM	665531307	63,379,330	1,789,871	SH		SOLE		1,454,572	0	335,299
NORTHERN OIL & GAS INC	COM	665531307	7,571,476	213,823	SH		DFND	5	0	213,823	0
NORTHERN OIL & GAS INC	COM	665531307	3,293,838	93,020	SH		DFND	4	0	93,020	0
OLD DOMINION FREIGHT LINE INC	COM	679580100	3,095,664	15,584	SH		SOLE		14,660	0	924
OLD DOMINION FREIGHT LINE INC	COM	679580100	7,839,924	39,468	SH		DFND	4	0	39,468	0
OPEN TEXT CORP	COM	683715106	3,960	119	SH		SOLE		119	0	0
OTIS WORLDWIDE CORP	COM	68902V107	5,754,063	55,359	SH		SOLE		51,152	0	4,208
OTIS WORLDWIDE CORP	COM	68902V107	11,712,895	112,689	SH		DFND	4	0	112,689	0
P10 INC COM CL A	COM	69376K106	57,556	5,374	SH		SOLE		5,374	0	0
PAPA JOHNS INTL INC	COM	698813102	42,396	787	SH		SOLE		787	0	0
PARK AEROSPACE CORP	COM	70014A104	42,804	3,285	SH		SOLE		3,285	0	0
PATRICK INDS INC	COM	703343103	8,070,178	56,685	SH		SOLE		44,234	0	12,450
PEPSICO INC	COM	713448108	85,025	500	SH		SOLE		0	0	500
PERRIGO CO PLC	COM	G97822103	54,370,211	2,072,825	SH		SOLE		1,686,259	0	386,566
PERRIGO CO PLC	COM	G97822103	7,441,149	283,688	SH		DFND	5	0	283,688	0
PERRIGO CO PLC	COM	G97822103	3,305,793	126,031	SH		DFND	4	0	126,031	0
PFIZER INC	COM	717081103	144,208	4,983	SH		SOLE		1,494	0	3,489
PLYMOUTH INDL REIT INC	COM	729640102	43,415	1,921	SH		SOLE		1,921	0	0
POOL CORP	COM	73278L105	26,682,956	70,815	SH		SOLE		64,225	0	6,589
POOL CORP	COM	73278L105	9,940,572	26,382	SH		DFND	5	0	26,382	0
POOL CORP	COM	73278L105	14,105,885	37,436	SH		DFND	4	0	37,436	0
POWER INTEGRATIONS INC	COM	739276103	65,922,372	1,028,109	SH		SOLE		842,380	0	185,729
POWER INTEGRATIONS INC	COM	739276103	7,302,991	113,896	SH		DFND	5	0	113,896	0
POWER INTEGRATIONS INC	COM	739276103	4,175,238	65,116	SH		DFND	4	0	65,116	0
PPG INDS INC	COM	693506107	123,983	936	SH		SOLE		0	0	936
PREFERRED BK LOS ANGELES CA CO	COM	740367404	54,490	679	SH		SOLE		679	0	0
PRICESMART INC	COM	741511109	44,162,925	481,182	SH		SOLE		374,555	0	106,627
PRINCETON BANCORP INC	COM	74179A107	46,706	1,263	SH		SOLE		1,263	0	0
PROSPERITY BANCSHARES INC	COM	743606105	20,404,026	283,114	SH		SOLE		257,263	0	25,851
PROSPERITY BANCSHARES INC	COM	743606105	9,547,310	132,473	SH		DFND	5	0	132,473	0
PROSPERITY BANCSHARES INC	COM	743606105	4,130,188	57,308	SH		DFND	4	0	57,308	0
QUAKER HOUGHTON	COM	747316107	54,561,189	323,824	SH		SOLE		265,296	0	58,529
QUAKER HOUGHTON	COM	747316107	7,398,153	43,909	SH		DFND	5	0	43,909	0
QUAKER HOUGHTON	COM	747316107	3,535,931	20,986	SH		DFND	4	0	20,986	0
QUEST DIAGNOSTICS INC	COM	74834L100	18,817,231	121,206	SH		SOLE		110,495	0	10,711
QUEST DIAGNOSTICS INC	COM	74834L100	8,961,163	57,721	SH		DFND	5	0	57,721	0
QUEST DIAGNOSTICS INC	COM	74834L100	3,680,201	23,705	SH		DFND	4	0	23,705	0
RANGER ENERGY SVCS INC COM CL	COM	75282U104	50,713	4,258	SH		SOLE		4,258	0	0
RCI HOSPITALITY HLDGS INC	COM	74934Q108	53,594	1,203	SH		SOLE		1,203	0	0
RELIANCE INC	COM	759509102	29,993,870	103,710	SH		SOLE		94,239	0	9,471
RELIANCE INC	COM	759509102	12,112,802	41,882	SH		DFND	5	0	41,882	0
RELIANCE INC	COM	759509102	14,330,066	49,549	SH		DFND	4	0	49,549	0
RESMED INC	COM	761152107	1,665,791	6,824	SH		SOLE		5,898	0	925
RILEY EXPLORATION PERMIAN INC	COM	76665T102	48,000	1,812	SH		SOLE		1,812	0	0
ROLLINS INC	COM	775711104	23,242	459	SH		SOLE		0	0	459
ROSS STORES INC	COM	778296103	5,980,910	39,738	SH		SOLE		35,666	0	4,072
ROSS STORES INC	COM	778296103	10,661,677	70,837	SH		DFND	4	0	70,837	0
RYERSON HLDG CORP	COM	783754104	56,146	2,820	SH		SOLE		2,820	0	0
RYMAN HOSPITALITY PPTYS INC	COM	78377T107	21,689,933	202,256	SH		SOLE		182,509	0	19,747
RYMAN HOSPITALITY PPTYS INC	COM	78377T107	10,449,382	97,439	SH		DFND	5	0	97,439	0
RYMAN HOSPITALITY PPTYS INC	COM	78377T107	4,697,970	43,808	SH		DFND	4	0	43,808	0
SALESFORCE INC	COM	79466L302	5,402,234	19,737	SH		SOLE		18,195	0	1,542
SALESFORCE INC	COM	79466L302	12,292,316	44,910	SH		DFND	4	0	44,910	0
SANDRIDGE ENERGY INC COM NEW	COM	80007P869	35,809	2,928	SH		SOLE		2,928	0	0
SANFILIPPO JOHN B & SON INC	COM	800422107	38,761	411	SH		SOLE		411	0	0
SCHLUMBERGER LTD COM STK	COM	806857108	822,702	19,611	SH		SOLE		16,160	0	3,451
SCHNEIDER NATIONAL INC CL B	COM	80689H102	45,212,449	1,584,178	SH		SOLE		1,233,846	0	350,332
SENSATA TECHNOLOGIES HLDG PLC	COM	G8060N102	53,241,621	1,484,708	SH		SOLE		1,215,464	0	269,243
SENSATA TECHNOLOGIES HLDG PLC	COM	G8060N102	7,164,059	199,779	SH		DFND	5	0	199,779	0
SENSATA TECHNOLOGIES HLDG PLC	COM	G8060N102	3,723,451	103,833	SH		DFND	4	0	103,833	0
SHERWIN WILLIAMS CO	COM	824348106	6,285,431	16,468	SH		SOLE		15,211	0	1,257
SHERWIN WILLIAMS CO	COM	824348106	12,293,591	32,210	SH		DFND	4	0	32,210	0
SHOE CARNIVAL INC	COM	824889109	51,530,917	1,175,163	SH		SOLE		915,983	0	259,181
SHUTTERSTOCK INC	COM	825690100	48,606,111	1,374,219	SH		SOLE		1,121,767	0	252,452
SHUTTERSTOCK INC	COM	825690100	5,101,967	144,246	SH		DFND	5	0	144,246	0
SHUTTERSTOCK INC	COM	825690100	2,891,108	81,739	SH		DFND	4	0	81,739	0
SIRIUSXM HOLDINGS INC COMMON S	COM	829933100	1,372	58	SH		SOLE		58	0	0
SKYWORKS SOLUTIONS INC	COM	83088M102	3,358	34	SH		SOLE		34	0	0
SMITH & WESSON BRANDS INC	COM	831754106	52,089	4,013	SH		SOLE		4,013	0	0
SNAP-ON INC	COM	833034101	2,028	7	SH		DFND	5	0	7	0
SOLVENTUM CORP COM SHS	COM	83444M101	26,075	374	SH		SOLE		0	0	374
SS&C TECHNOLOGIES HLDGS INC	COM	78467J100	264,188	3,560	SH		SOLE		3,560	0	0
STANDEX INTL CORP	COM	854231107	85,787,124	469,346	SH		SOLE		382,035	0	87,311
STANDEX INTL CORP	COM	854231107	11,135,115	60,921	SH		DFND	5	0	60,921	0
STANDEX INTL CORP	COM	854231107	4,748,076	25,977	SH		DFND	4	0	25,977	0
STEPAN CO	COM	858586100	47,586	616	SH		SOLE		496	0	120
STERIS PLC SHS USD	COM	G8473T100	27,280,084	112,477	SH		SOLE		101,852	0	10,625
STERIS PLC SHS USD	COM	G8473T100	11,048,054	45,551	SH		DFND	5	0	45,551	0
STERIS PLC SHS USD	COM	G8473T100	15,896,557	65,542	SH		DFND	4	0	65,542	0
STEVANATO GROUP S P A ORD SHS	COM	T9224W109	13,864,357	693,218	SH		SOLE		540,420	0	152,797
STEVANATO GROUP S P A ORD SHS	COM	T9224W109	1,157	58	SH		DFND	5	0	58	0
STEWART INFORMATION SVCS CORP	COM	860372101	60,689	812	SH		SOLE		812	0	0
STRYKER CORPORATION	COM	863667101	6,141	17	SH		SOLE		17	0	0
SYNCHRONY FINANCIAL	COM	87165B103	131,085	2,628	SH		SOLE		0	0	2,628
TERRENO RLTY CORP	COM	88146M101	62,694,624	938,121	SH		SOLE		764,107	0	174,014
TERRENO RLTY CORP	COM	88146M101	8,891,314	133,044	SH		DFND	5	0	133,044	0
TERRENO RLTY CORP	COM	88146M101	3,894,719	58,278	SH		DFND	4	0	58,278	0
TETRA TECH INC NEW	COM	88162G103	72,409,873	1,535,409	SH		SOLE		1,253,150	0	282,259
TETRA TECH INC NEW	COM	88162G103	9,555,794	202,625	SH		DFND	5	0	202,625	0
TETRA TECH INC NEW	COM	88162G103	4,065,947	86,216	SH		DFND	4	0	86,216	0
TIPTREE INC	COM	88822Q103	56,048	2,864	SH		SOLE		2,864	0	0
TJX COS INC NEW	COM	872540109	30,325	258	SH		SOLE		47	0	211
TOWNSQUARE MEDIA INC CL A	COM	892231101	38,974	3,836	SH		SOLE		3,836	0	0
TRACTOR SUPPLY CO	COM	892356106	1,339,209	4,603	SH		SOLE		3,973	0	630
TRACTOR SUPPLY CO	COM	892356106	2,909	10	SH		DFND	5	0	10	0
TRANSUNION	COM	89400J107	20,593,966	196,695	SH		SOLE		178,572	0	18,123
TRANSUNION	COM	89400J107	9,888,340	94,445	SH		DFND	5	0	94,445	0
TRANSUNION	COM	89400J107	4,210,510	40,215	SH		DFND	4	0	40,215	0
TRAVEL PLUS LEISURE CO	COM	894164102	59,364,256	1,288,287	SH		SOLE		1,053,848	0	234,439
TRAVEL PLUS LEISURE CO	COM	894164102	8,513,650	184,758	SH		DFND	5	0	184,758	0
TRAVEL PLUS LEISURE CO	COM	894164102	3,705,984	80,425	SH		DFND	4	0	80,425	0
TURNING PT BRANDS INC	COM	90041L105	60,712	1,407	SH		SOLE		1,407	0	0
U S PHYSICAL THERAPY	COM	90337L108	54,595,804	645,112	SH		SOLE		526,338	0	118,774
U S PHYSICAL THERAPY	COM	90337L108	7,099,051	83,883	SH		DFND	5	0	83,883	0
U S PHYSICAL THERAPY	COM	90337L108	3,185,981	37,646	SH		DFND	4	0	37,646	0
UBS GROUP AG	COM	H42097107	5,286	171	SH		SOLE		171	0	0
UFP INDUSTRIES INC	COM	90278Q108	58,519,511	445,999	SH		SOLE		366,222	0	79,777
UFP INDUSTRIES INC	COM	90278Q108	9,199,847	70,115	SH		DFND	5	0	70,115	0
UFP INDUSTRIES INC	COM	90278Q108	3,947,190	30,083	SH		DFND	4	0	30,083	0
UMH PPTYS INC	COM	903002103	54,311,154	2,761,116	SH		SOLE		2,151,233	0	609,883
UNIFIRST CORP MASS	COM	904708104	52,985,050	266,726	SH		SOLE		220,220	0	46,506
UNIFIRST CORP MASS	COM	904708104	9,041,578	45,515	SH		DFND	5	0	45,515	0
UNIFIRST CORP MASS	COM	904708104	3,962,273	19,946	SH		DFND	4	0	19,946	0
UNITEDHEALTH GROUP INC	COM	91324P102	8,375,324	14,325	SH		SOLE		13,243	0	1,082
UNITEDHEALTH GROUP INC	COM	91324P102	16,663,965	28,501	SH		DFND	4	0	28,501	0
UNIVERSAL DISPLAY CORP	COM	91347P105	71,422,326	340,268	SH		SOLE		279,684	0	60,585
UNIVERSAL DISPLAY CORP	COM	91347P105	10,541,647	50,222	SH		DFND	5	0	50,222	0
UNIVERSAL DISPLAY CORP	COM	91347P105	4,284,899	20,414	SH		DFND	4	0	20,414	0
UTAH MED PRODS INC	COM	917488108	53,127	794	SH		SOLE		794	0	0
UTZ BRANDS INC COM CL A	COM	918090101	54,127,468	3,058,049	SH		SOLE		2,383,627	0	674,422
VALMONT INDS INC	COM	920253101	73,362,629	253,018	SH		SOLE		207,501	0	45,518
VALMONT INDS INC	COM	920253101	10,881,754	37,530	SH		DFND	5	0	37,530	0
VALMONT INDS INC	COM	920253101	4,868,260	16,790	SH		DFND	4	0	16,790	0
VERTIV HOLDINGS CO COM CL A	COM	92537N108	142,669	1,434	SH		SOLE		1,434	0	0
VESTIS CORPORATION COM SHS	COM	29430C102	59,868	4,018	SH		SOLE		4,018	0	0
VISA INC COM CL A	COM	92826C839	7,491,843	27,248	SH		SOLE		24,414	0	2,834
VISA INC COM CL A	COM	92826C839	15,253,401	55,477	SH		DFND	4	0	55,477	0
VULCAN MATLS CO	COM	929160109	891,286	3,559	SH		SOLE		3,098	0	461
WASTE CONNECTIONS INC	COM	94106B101	7,727,528	43,214	SH		SOLE		39,407	0	3,807
WASTE CONNECTIONS INC	COM	94106B101	15,289,468	85,502	SH		DFND	4	0	85,502	0
WESCO INTL INC	COM	95082P105	21,949,963	130,670	SH		SOLE		118,368	0	12,302
WESCO INTL INC	COM	95082P105	9,580,850	57,036	SH		DFND	5	0	57,036	0
WESCO INTL INC	COM	95082P105	4,246,366	25,279	SH		DFND	4	0	25,279	0
WEST PHARMACEUTICAL SVSC INC	COM	955306105	989,475	3,296	SH		SOLE		2,865	0	431
WINGSTOP INC	COM	974155103	78,035,533	187,549	SH		SOLE		153,883	0	33,666
WINGSTOP INC	COM	974155103	12,592,655	30,265	SH		DFND	5	0	30,265	0
WINGSTOP INC	COM	974155103	5,282,552	12,696	SH		DFND	4	0	12,696	0
WINMARK CORP	COM	974250102	24,365,684	63,630	SH		SOLE		49,663	0	13,966
WYNDHAM HOTELS & RESORTS INC	COM	98311A105	31,984,598	409,324	SH		SOLE		318,854	0	90,470
ZOETIS INC CL A	COM	98978V103	6,299,503	32,242	SH		SOLE		28,487	0	3,755
ZOETIS INC CL A	COM	98978V103	12,419,916	63,568	SH		DFND	4	0	63,568	0

Copeland Capital Management 13F-HRQuarterly holdings report by institutional manager