# EDGAR Filing Document

**Accession Number:** 0001541743
**File Stem:** 0001580642-26-000539
**Filing Date:** 2026-1
**Character Count:** 49956
**Document Hash:** 81eb7d11c4aa0e363fe1aec51d60e306
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001580642-26-000539.hdr.sgml**: 20260129

**ACCESSION NUMBER**: 0001580642-26-000539

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260129

**DATE AS OF CHANGE**: 20260128

**EFFECTIVENESS DATE**: 20260129

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Copeland Capital Management, LLC
- **CENTRAL INDEX KEY:** 0001541743

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-14668
- **FILM NUMBER:** 26574116

**BUSINESS ADDRESS:**
- **STREET 1:** 161 WASHINGTON STREET
- **STREET 2:** SUITE 1325
- **CITY:** CONSHOHOCKEN
- **STATE:** PA
- **ZIP:** 19428
- **BUSINESS PHONE:** 484-530-4300

**MAIL ADDRESS:**
- **STREET 1:** 161 WASHINGTON STREET
- **STREET 2:** SUITE 1325
- **CITY:** CONSHOHOCKEN
- **STATE:** PA
- **ZIP:** 19428

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Copeland Capital Management LLC<br>**Address:** 161 Washington Street<br>Suite 1325<br>Conshohocken, PA 19428

**Form 13F File Number:** 028-14668

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Sofia A. Rosala<br>**Title:** General Counsel  Chief Compliance Officer<br>**Phone:** 484-351-3700

**Signature, Place, and Date of Signing:**

/s/ Sofia A. Rosala  Conshohocken, PA  01-28-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[ ] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[x] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 2

**Form 13F Information Table Entry Total:** 471

**Form 13F Information Table Value Total:** $4478690314

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

|   No. | Name                           | Form 13F File Number   | CRD Number   | SEC File Number   |
|---:|:---|:---|:---|:---|
|     1 | Russell Investments Group Ltd. | 028-17598              |  |  |

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 3I GROUP PLC UNSPONSORD ADR | ADR | 88579N105 |  | 1535 | 141 | SH |  | SOLE |  | 141 | 0 | 0 |
| ADIDAS AG ADR | ADR | 00687A107 |  | 1779 | 18 | SH |  | SOLE |  | 18 | 0 | 0 |
| AIA GROUP LTD SPONSORED ADR | ADR | 001317205 |  | 4677 | 114 | SH |  | SOLE |  | 114 | 0 | 0 |
| AIR LIQUIDE ADR | ADR | 009126202 |  | 2854 | 76 | SH |  | SOLE |  | 76 | 0 | 0 |
| ASSA ABLOY AB ADR | ADR | 045387107 |  | 3359 | 174 | SH |  | SOLE |  | 174 | 0 | 0 |
| BAE SYSTEMS PLC SPONSORED ADR | ADR | 05523R107 |  | 3715 | 40 | SH |  | SOLE |  | 40 | 0 | 0 |
| BANCO SANTANDER S.A. ADR | ADR | 05964H105 |  | 4211 | 359 | SH |  | SOLE |  | 359 | 0 | 0 |
| BNP PARIBAS SPONSORED ADR | ADR | 05565A202 |  | 3744 | 79 | SH |  | SOLE |  | 79 | 0 | 0 |
| BUREAU VERITAS SA UNSPONSORED | ADR | 12117P109 |  | 2802 | 44 | SH |  | SOLE |  | 44 | 0 | 0 |
| DIAGEO PLC SPON ADR NEW | ADR | 25243Q205 |  | 1897 | 22 | SH |  | SOLE |  | 22 | 0 | 0 |
| DNB BANK ASA SPONSORED | ADR | 23341C103 |  | 3899 | 140 | SH |  | SOLE |  | 140 | 0 | 0 |
| EXPERIAN PLC SPONSORED ADR | ADR | 30215C101 |  | 2665 | 59 | SH |  | SOLE |  | 59 | 0 | 0 |
| HANNOVER RUECK SE SPONSORED AD | ADR | 410693105 |  | 3124 | 60 | SH |  | SOLE |  | 60 | 0 | 0 |
| HEIDELBERG MATERIALS AG SPONSO | ADR | 42281P304 |  | 3542 | 68 | SH |  | SOLE |  | 68 | 0 | 0 |
| HOYA CORP SPONSORED ADR | ADR | 443251103 |  | 11373 | 75 | SH |  | SOLE |  | 16 | 0 | 59 |
| IBERDROLA S A SPON ADR | ADR | 450737101 |  | 5616 | 65 | SH |  | SOLE |  | 65 | 0 | 0 |
| KERRY GROUP PLC SPONSORED ADR | ADR | 492460100 |  | 10021 | 110 | SH |  | SOLE |  | 27 | 0 | 83 |
| KION GROUP AG ADR | ADR | 497216101 |  | 3349 | 169 | SH |  | SOLE |  | 169 | 0 | 0 |
| MURATA MANUFACTURING CO LTD UN | ADR | 626425102 |  | 3914 | 380 | SH |  | SOLE |  | 380 | 0 | 0 |
| NESTLE S A SPONSORED ADR | ADR | 641069406 |  | 3951 | 40 | SH |  | SOLE |  | 40 | 0 | 0 |
| NIPPON SANSO HLDGS CORP UNSPON | ADR | 65461N104 |  | 2144 | 145 | SH |  | SOLE |  | 145 | 0 | 0 |
| NOVO-NORDISK A S ADR | ADR | 670100205 |  | 18164 | 357 | SH |  | SOLE |  | 62 | 0 | 295 |
| NOVONESIS (NOVOZYMES) B UNSPON | ADR | 670108109 |  | 3117 | 49 | SH |  | SOLE |  | 49 | 0 | 0 |
| RECRUIT HLDGS CO LTD UNSPONSOR | ADR | 75629J101 |  | 2025 | 180 | SH |  | SOLE |  | 180 | 0 | 0 |
| RENTOKIL INITIAL PLC SPONSORED | ADR | 760125104 |  | 3122 | 106 | SH |  | SOLE |  | 106 | 0 | 0 |
| ROCHE HLDG LTD SPONSORED ADR | ADR | 771195104 |  | 4692 | 91 | SH |  | SOLE |  | 91 | 0 | 0 |
| SANTEN PHARMACEUTICAL CO LTD A | ADR | 80287P100 |  | 2945 | 286 | SH |  | SOLE |  | 286 | 0 | 0 |
| SCHNEIDER ELECTRIC SE UNSPONSO | ADR | 80687P106 |  | 3296 | 60 | SH |  | SOLE |  | 60 | 0 | 0 |
| SHIN ETSU CHEMICAL CO LTD ADR | ADR | 824551105 |  | 3053 | 197 | SH |  | SOLE |  | 197 | 0 | 0 |
| SIKA AG UNSPONSORD ADR | ADR | 82674R103 |  | 1961 | 96 | SH |  | SOLE |  | 96 | 0 | 0 |
| SONY GROUP CORP SPONSORED ADR | ADR | 835699307 |  | 16896 | 660 | SH |  | SOLE |  | 179 | 0 | 481 |
| SYSMEX CORP UNSPONSORED ADR | ADR | 87184P109 |  | 1374 | 141 | SH |  | SOLE |  | 141 | 0 | 0 |
| T HLDGS INC UNSPONSORD ADR | ADR | 872120100 |  | 2923 | 252 | SH |  | SOLE |  | 252 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD S | ADR | 874039100 |  | 7889385 | 25961 | SH |  | SOLE |  | 23035 | 0 | 2926 |
| TAIWAN SEMICONDUCTOR MFG LTD S | ADR | 874039100 |  | 13598469 | 44748 | SH |  | DFND | 04 | 0 | 44748 | 0 |
| TDK CORP AMERN DEP SH | ADR | 872351408 |  | 11421 | 810 | SH |  | SOLE |  | 200 | 0 | 610 |
| TECHTRONIC INDS LTD SPONSORED | ADR | 87873R101 |  | 43703 | 759 | SH |  | SOLE |  | 42 | 0 | 717 |
| TENCENT HOLDINGS LIMITED UNSPO | ADR | 88032Q109 |  | 15692 | 205 | SH |  | SOLE |  | 56 | 0 | 149 |
| THALES UNSPONSORD ADR | ADR | 883219206 |  | 3349 | 62 | SH |  | SOLE |  | 62 | 0 | 0 |
| TRASMISSIONE ELETTRICITA RETE | ADR | 88088L103 |  | 2839 | 89 | SH |  | SOLE |  | 89 | 0 | 0 |
| WOLTERS KLUWER N V SPONSORED A | ADR | 977874205 |  | 1864 | 18 | SH |  | SOLE |  | 18 | 0 | 0 |
| GILDAN ACTIVEWEAR INC | COM | 002254645 |  | 19126 | 306 | SH |  | SOLE |  | 176 | 0 | 130 |
| 3M CO | COM | 88579Y101 |  | 240150 | 1500 | SH |  | SOLE |  | 0 | 0 | 1500 |
| AAON INC | COM | 000360206 |  | 50026079 | 656079 | SH |  | SOLE |  | 515475 | 0 | 140604 |
| AAON INC | COM | 000360206 |  | 8067180 | 105799 | SH |  | DFND | 05 | 0 | 105799 | 0 |
| AAON INC | COM | 000360206 |  | 2905048 | 38099 | SH |  | DFND | 04 | 0 | 38099 | 0 |
| ABBOTT LABS | COM | 002824100 |  | 156361 | 1248 | SH |  | SOLE |  | 0 | 0 | 1248 |
| ABBVIE INC | COM | 00287Y109 |  | 298864 | 1308 | SH |  | SOLE |  | 0 | 0 | 1308 |
| ABM INDS INC | COM | 000957100 |  | 1351 | 31 | SH |  | DFND | 05 | 0 | 31 | 0 |
| ACCENTURE PLC IRELAND SHS CLAS | COM | G1151C101 |  | 113222 | 422 | SH |  | SOLE |  | 399 | 0 | 23 |
| AIR LEASE CORP CL A | COM | 00912X302 |  | 34294958 | 533939 | SH |  | SOLE |  | 406698 | 0 | 127241 |
| AIR LEASE CORP CL A | COM | 00912X302 |  | 3621710 | 56386 | SH |  | DFND | 05 | 0 | 56386 | 0 |
| AIR LEASE CORP CL A | COM | 00912X302 |  | 935638 | 14567 | SH |  | DFND | 04 | 0 | 14567 | 0 |
| ALAMO GROUP INC | COM | 011311107 |  | 10530149 | 62728 | SH |  | SOLE |  | 46578 | 0 | 16150 |
| ALLISON TRANSMISSION HLDGS INC | COM | 01973R101 |  | 91678 | 936 | SH |  | DFND | 05 | 0 | 936 | 0 |
| ALLSTATE CORP | COM | 020002101 |  | 873552 | 4195 | SH |  | SOLE |  | 3463 | 0 | 732 |
| ALPHABET INC CAP STK CL A | COM | 02079K305 |  | 7405006 | 23658 | SH |  | SOLE |  | 22140 | 0 | 1518 |
| ALPHABET INC CAP STK CL A | COM | 02079K305 |  | 13964182 | 44614 | SH |  | DFND | 04 | 0 | 44614 | 0 |
| ALPHABET INC CAP STK CL C | COM | 02079K107 |  | 131796 | 420 | SH |  | SOLE |  | 280 | 0 | 140 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 175394 | 999 | SH |  | SOLE |  | 520 | 0 | 479 |
| AMERICAN WTR WKS CO INC NEW | COM | 030420103 |  | 940668 | 7208 | SH |  | SOLE |  | 6252 | 0 | 956 |
| AMERIPRISE FINL INC | COM | 03076C106 |  | 6228294 | 12701 | SH |  | SOLE |  | 11444 | 0 | 1257 |
| AMERIPRISE FINL INC | COM | 03076C106 |  | 10039221 | 20474 | SH |  | DFND | 04 | 0 | 20474 | 0 |
| AMGEN INC | COM | 031162100 |  | 130924 | 400 | SH |  | SOLE |  | 400 | 0 | 0 |
| AMPHENOL CORP NEW CL A | COM | 032095101 |  | 6903507 | 51083 | SH |  | SOLE |  | 48007 | 0 | 3076 |
| AMPHENOL CORP NEW CL A | COM | 032095101 |  | 11829344 | 87534 | SH |  | DFND | 04 | 0 | 87534 | 0 |
| APPLE INC | COM | 037833100 |  | 9106736 | 33497 | SH |  | SOLE |  | 29312 | 0 | 4185 |
| APPLE INC | COM | 037833100 |  | 14295758 | 52585 | SH |  | DFND | 04 | 0 | 52585 | 0 |
| APTARGROUP INC | COM | 038336103 |  | 10287447 | 84351 | SH |  | SOLE |  | 74792 | 0 | 9559 |
| APTARGROUP INC | COM | 038336103 |  | 4402846 | 36100 | SH |  | DFND | 05 | 0 | 36100 | 0 |
| APTARGROUP INC | COM | 038336103 |  | 1866231 | 15302 | SH |  | DFND | 04 | 0 | 15302 | 0 |
| ARTESIAN RES CORP CL A | COM | 043113208 |  | 62809 | 1987 | SH |  | SOLE |  | 1987 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 13711 | 552 | SH |  | SOLE |  | 552 | 0 | 0 |
| ATN INTL INC | COM | 00215F107 |  | 64455 | 2827 | SH |  | SOLE |  | 2827 | 0 | 0 |
| AUTOMATIC DATA PROCESSING INC | COM | 053015103 |  | 4349609 | 16909 | SH |  | SOLE |  | 14870 | 0 | 2039 |
| AUTOMATIC DATA PROCESSING INC | COM | 053015103 |  | 6622643 | 25746 | SH |  | DFND | 04 | 0 | 25746 | 0 |
| AZZ INC | COM | 002474104 |  | 40471573 | 377603 | SH |  | SOLE |  | 297126 | 0 | 80477 |
| AZZ INC | COM | 002474104 |  | 7055655 | 65829 | SH |  | DFND | 05 | 0 | 65829 | 0 |
| AZZ INC | COM | 002474104 |  | 2433843 | 22708 | SH |  | DFND | 04 | 0 | 22708 | 0 |
| BADGER METER INC | COM | 056525108 |  | 174 | 1 | SH |  | DFND | 05 | 0 | 1 | 0 |
| BANK FIRST CORP | COM | 06211J100 |  | 21683 | 178 | SH |  | SOLE |  | 178 | 0 | 0 |
| BANK OZK LITTLE ROCK ARK | COM | 06417N103 |  | 45005 | 977 | SH |  | DFND | 05 | 0 | 977 | 0 |
| BANK7 CORP | COM | 06652N107 |  | 64994 | 1586 | SH |  | SOLE |  | 1586 | 0 | 0 |
| BENTLEY SYS INC COM CL B | COM | 08265T208 |  | 12473417 | 326828 | SH |  | SOLE |  | 288720 | 0 | 38108 |
| BENTLEY SYS INC COM CL B | COM | 08265T208 |  | 4571182 | 119774 | SH |  | DFND | 05 | 0 | 119774 | 0 |
| BENTLEY SYS INC COM CL B | COM | 08265T208 |  | 2121974 | 55600 | SH |  | DFND | 04 | 0 | 55600 | 0 |
| BLACKROCK INC | COM | 09290D101 |  | 318961 | 298 | SH |  | SOLE |  | 183 | 0 | 115 |
| BLUE OWL CAPITAL INC COM CL A | COM | 09581B103 |  | 233034 | 15598 | SH |  | SOLE |  | 15598 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 3845180 | 718 | SH |  | SOLE |  | 655 | 0 | 63 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 6576345 | 1228 | SH |  | DFND | 04 | 0 | 1228 | 0 |
| BOOZ ALLEN HAMILTON HLDG CORP | COM | 099502106 |  | 14714531 | 174425 | SH |  | SOLE |  | 155566 | 0 | 18859 |
| BOOZ ALLEN HAMILTON HLDG CORP | COM | 099502106 |  | 5230008 | 61996 | SH |  | DFND | 05 | 0 | 61996 | 0 |
| BOOZ ALLEN HAMILTON HLDG CORP | COM | 099502106 |  | 6439451 | 76333 | SH |  | DFND | 04 | 0 | 76333 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 11709417 | 33832 | SH |  | SOLE |  | 28664 | 0 | 5168 |
| BROADCOM INC | COM | 11135F101 |  | 18080264 | 52240 | SH |  | DFND | 04 | 0 | 52240 | 0 |
| BROADRIDGE FINL SOLUTIONS INC | COM | 11133T103 |  | 1268287 | 5682 | SH |  | SOLE |  | 4057 | 0 | 1625 |
| BROADRIDGE FINL SOLUTIONS INC | COM | 11133T103 |  | 145031 | 649 | SH |  | DFND | 05 | 0 | 649 | 0 |
| BROOKFIELD ASSET MANAGMT LTD C | COM | 113004105 |  | 922150 | 17601 | SH |  | SOLE |  | 15308 | 0 | 2293 |
| BROOKFIELD INFRASTRUCTURE CORP | COM | 11276H106 |  | 51182001 | 1127356 | SH |  | SOLE |  | 879227 | 0 | 248129 |
| BROOKFIELD INFRASTRUCTURE CORP | COM | 11276H106 |  | 8401313 | 185050 | SH |  | DFND | 05 | 0 | 185050 | 0 |
| BROOKFIELD INFRASTRUCTURE CORP | COM | 11276H106 |  | 2709290 | 59676 | SH |  | DFND | 04 | 0 | 59676 | 0 |
| BROWN  BROWN INC | COM | 115236101 |  | 2935555 | 36832 | SH |  | SOLE |  | 33943 | 0 | 2889 |
| BROWN  BROWN INC | COM | 115236101 |  | 5159060 | 64731 | SH |  | DFND | 04 | 0 | 64731 | 0 |
| BRUNSWICK CORP | COM | 117043109 |  | 55763890 | 751129 | SH |  | SOLE |  | 586892 | 0 | 164237 |
| BRUNSWICK CORP | COM | 117043109 |  | 8639967 | 116378 | SH |  | DFND | 05 | 0 | 116378 | 0 |
| BRUNSWICK CORP | COM | 117043109 |  | 2905753 | 39140 | SH |  | DFND | 04 | 0 | 39140 | 0 |
| BWX TECHNOLOGIES INC | COM | 05605H100 |  | 4745149 | 27454 | SH |  | SOLE |  | 24175 | 0 | 3279 |
| BWX TECHNOLOGIES INC | COM | 05605H100 |  | 3427246 | 19829 | SH |  | DFND | 05 | 0 | 19829 | 0 |
| BWX TECHNOLOGIES INC | COM | 05605H100 |  | 907064 | 5248 | SH |  | DFND | 04 | 0 | 5248 | 0 |
| CANADIAN NAT RES LTD | COM | 136385101 |  | 3452 | 102 | SH |  | SOLE |  | 102 | 0 | 0 |
| CANADIAN NATL RY CO | COM | 136375102 |  | 2174 | 22 | SH |  | SOLE |  | 22 | 0 | 0 |
| CAPITAL ONE FINANCIAL | COM | 14040H105 |  | 1211 | 5 | SH |  | DFND | 05 | 0 | 5 | 0 |
| CARETRUST REIT INC | COM | 14174T107 |  | 53002167 | 1465767 | SH |  | SOLE |  | 1149239 | 0 | 316528 |
| CARETRUST REIT INC | COM | 14174T107 |  | 9087896 | 251324 | SH |  | DFND | 05 | 0 | 251324 | 0 |
| CARETRUST REIT INC | COM | 14174T107 |  | 3100792 | 85752 | SH |  | DFND | 04 | 0 | 85752 | 0 |
| CARLISLE COS INC | COM | 142339100 |  | 14057847 | 43950 | SH |  | SOLE |  | 39009 | 0 | 4941 |
| CARLISLE COS INC | COM | 142339100 |  | 7172694 | 22424 | SH |  | DFND | 05 | 0 | 22424 | 0 |
| CARLISLE COS INC | COM | 142339100 |  | 2531372 | 7914 | SH |  | DFND | 04 | 0 | 7914 | 0 |
| CASEYS GEN STORES INC | COM | 147528103 |  | 20448371 | 36996 | SH |  | SOLE |  | 33317 | 0 | 3679 |
| CASEYS GEN STORES INC | COM | 147528103 |  | 8870625 | 16049 | SH |  | DFND | 05 | 0 | 16049 | 0 |
| CASEYS GEN STORES INC | COM | 147528103 |  | 11834626 | 21412 | SH |  | DFND | 04 | 0 | 21412 | 0 |
| CASS INFORMATION SYS INC | COM | 14808P109 |  | 68508 | 1650 | SH |  | SOLE |  | 1650 | 0 | 0 |
| CENCORA INC | COM | 03073E105 |  | 6120910 | 18122 | SH |  | SOLE |  | 16945 | 0 | 1177 |
| CENCORA INC | COM | 03073E105 |  | 10931616 | 32366 | SH |  | DFND | 04 | 0 | 32366 | 0 |
| CHATHAM LODGING TR | COM | 16208T102 |  | 70367 | 10333 | SH |  | SOLE |  | 10333 | 0 | 0 |
| CHEMED CORP NEW | COM | 16359R103 |  | 49624494 | 115982 | SH |  | SOLE |  | 90581 | 0 | 25401 |
| CHEMED CORP NEW | COM | 16359R103 |  | 6677516 | 15606 | SH |  | DFND | 05 | 0 | 15606 | 0 |
| CHEMED CORP NEW | COM | 16359R103 |  | 2551329 | 5963 | SH |  | DFND | 04 | 0 | 5963 | 0 |
| CHENIERE ENERGY INC COM NEW | COM | 16411R208 |  | 2898523 | 14910 | SH |  | SOLE |  | 13831 | 0 | 1079 |
| CHENIERE ENERGY INC COM NEW | COM | 16411R208 |  | 4337424 | 22313 | SH |  | DFND | 04 | 0 | 22313 | 0 |
| CHESAPEAKE UTILS CORP | COM | 165303108 |  | 48490686 | 388671 | SH |  | SOLE |  | 306302 | 0 | 82369 |
| CHESAPEAKE UTILS CORP | COM | 165303108 |  | 8372090 | 67105 | SH |  | DFND | 05 | 0 | 67105 | 0 |
| CHESAPEAKE UTILS CORP | COM | 165303108 |  | 2845775 | 22810 | SH |  | DFND | 04 | 0 | 22810 | 0 |
| CHORD ENERGY CORPORATION COM N | COM | 674215207 |  | 5395 | 58 | SH |  | DFND | 05 | 0 | 58 | 0 |
| CHURCH  DWIGHT CO INC | COM | 171340102 |  | 212392 | 2533 | SH |  | SOLE |  | 1333 | 0 | 1200 |
| CHURCHILL DOWNS INC | COM | 171484108 |  | 16080641 | 141331 | SH |  | SOLE |  | 125378 | 0 | 15953 |
| CHURCHILL DOWNS INC | COM | 171484108 |  | 8494983 | 74661 | SH |  | DFND | 05 | 0 | 74661 | 0 |
| CHURCHILL DOWNS INC | COM | 171484108 |  | 2910606 | 25581 | SH |  | DFND | 04 | 0 | 25581 | 0 |
| CINTAS CORP | COM | 172908105 |  | 4440153 | 23609 | SH |  | SOLE |  | 21750 | 0 | 1859 |
| CINTAS CORP | COM | 172908105 |  | 8507910 | 45238 | SH |  | DFND | 04 | 0 | 45238 | 0 |
| CLEAR SECURE INC COM CL A | COM | 18467V109 |  | 64231069 | 1830988 | SH |  | SOLE |  | 1438714 | 0 | 392274 |
| CLEAR SECURE INC COM CL A | COM | 18467V109 |  | 10613250 | 302544 | SH |  | DFND | 05 | 0 | 302544 | 0 |
| CLEAR SECURE INC COM CL A | COM | 18467V109 |  | 3630569 | 103494 | SH |  | DFND | 04 | 0 | 103494 | 0 |
| COGNEX CORP | COM | 192422103 |  | 41820861 | 1162335 | SH |  | SOLE |  | 910809 | 0 | 251526 |
| COGNEX CORP | COM | 192422103 |  | 6538879 | 181736 | SH |  | DFND | 05 | 0 | 181736 | 0 |
| COGNEX CORP | COM | 192422103 |  | 2299949 | 63923 | SH |  | DFND | 04 | 0 | 63923 | 0 |
| COHEN  STEERS INC | COM | 19247A100 |  | 42364216 | 674803 | SH |  | SOLE |  | 526667 | 0 | 148136 |
| COHEN  STEERS INC | COM | 19247A100 |  | 5957970 | 94902 | SH |  | DFND | 05 | 0 | 94902 | 0 |
| COHEN  STEERS INC | COM | 19247A100 |  | 2198995 | 35027 | SH |  | DFND | 04 | 0 | 35027 | 0 |
| COMFORT SYS USA INC | COM | 199908104 |  | 979021 | 1049 | SH |  | SOLE |  | 1049 | 0 | 0 |
| CONCENTRIX CORP | COM | 20602D101 |  | 38743322 | 931776 | SH |  | SOLE |  | 727755 | 0 | 204021 |
| CONCENTRIX CORP | COM | 20602D101 |  | 4436913 | 106707 | SH |  | DFND | 05 | 0 | 106707 | 0 |
| CONCENTRIX CORP | COM | 20602D101 |  | 2097253 | 50439 | SH |  | DFND | 04 | 0 | 50439 | 0 |
| CONNECTONE BANCORP INC | COM | 20786W107 |  | 68014 | 2594 | SH |  | SOLE |  | 2594 | 0 | 0 |
| CONSOLIDATED WATER CO INC | COM | G23773107 |  | 69380 | 1966 | SH |  | SOLE |  | 1966 | 0 | 0 |
| CORTEVA INC | COM | 22052L104 |  | 885265 | 13207 | SH |  | SOLE |  | 11470 | 0 | 1737 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 3538257 | 4103 | SH |  | SOLE |  | 3581 | 0 | 522 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 6448578 | 7478 | SH |  | DFND | 04 | 0 | 7478 | 0 |
| COTERRA ENERGY INC | COM | 127097103 |  | 1237 | 47 | SH |  | DFND | 05 | 0 | 47 | 0 |
| COVENANT LOGISTICS GROUP INC C | COM | 22284P105 |  | 98893 | 4487 | SH |  | SOLE |  | 4036 | 0 | 451 |
| CRA INTL INC | COM | 12618T105 |  | 34815530 | 173473 | SH |  | SOLE |  | 128803 | 0 | 44670 |
| CRICUT INC COM CL A | COM | 22658D100 |  | 66834 | 13502 | SH |  | SOLE |  | 13502 | 0 | 0 |
| CSG SYS INTL INC | COM | 126349109 |  | 28682 | 374 | SH |  | SOLE |  | 374 | 0 | 0 |
| CSP INC | COM | 126389105 |  | 49150 | 3932 | SH |  | SOLE |  | 3932 | 0 | 0 |
| CUBESMART | COM | 229663109 |  | 103 | 2 | SH |  | DFND | 05 | 0 | 2 | 0 |
| DIAMONDBACK ENERGY INC | COM | 25278X109 |  | 1043443 | 6940 | SH |  | SOLE |  | 6034 | 0 | 906 |
| DIAMONDBACK ENERGY INC | COM | 25278X109 |  | 6313 | 42 | SH |  | DFND | 05 | 0 | 42 | 0 |
| DICKS SPORTING GOODS INC | COM | 253393102 |  | 15467990 | 78133 | SH |  | SOLE |  | 69284 | 0 | 8849 |
| DICKS SPORTING GOODS INC | COM | 253393102 |  | 8361306 | 42235 | SH |  | DFND | 05 | 0 | 42235 | 0 |
| DICKS SPORTING GOODS INC | COM | 253393102 |  | 2805828 | 14173 | SH |  | DFND | 04 | 0 | 14173 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 24801 | 218 | SH |  | SOLE |  | 218 | 0 | 0 |
| DOMINOS PIZZA INC | COM | 25754A201 |  | 15598471 | 37422 | SH |  | SOLE |  | 33103 | 0 | 4319 |
| DOMINOS PIZZA INC | COM | 25754A201 |  | 7746624 | 18585 | SH |  | DFND | 05 | 0 | 18585 | 0 |
| DOMINOS PIZZA INC | COM | 25754A201 |  | 2655560 | 6371 | SH |  | DFND | 04 | 0 | 6371 | 0 |
| DT MIDSTREAM INC COMMON STOCK | COM | 23345M107 |  | 17093655 | 142828 | SH |  | SOLE |  | 126197 | 0 | 16631 |
| DT MIDSTREAM INC COMMON STOCK | COM | 23345M107 |  | 9136293 | 76339 | SH |  | DFND | 05 | 0 | 76339 | 0 |
| DT MIDSTREAM INC COMMON STOCK | COM | 23345M107 |  | 3122451 | 26090 | SH |  | DFND | 04 | 0 | 26090 | 0 |
| EASTGROUP PPTYS INC | COM | 277276101 |  | 241379 | 1355 | SH |  | SOLE |  | 1355 | 0 | 0 |
| EBAY INC. | COM | 278642103 |  | 1027602 | 11797 | SH |  | SOLE |  | 10250 | 0 | 1547 |
| ELANCO ANIMAL HEALTH INC | COM | 28414H103 |  | 22245 | 983 | SH |  | SOLE |  | 0 | 0 | 983 |
| ELEMENT SOLUTIONS INC | COM | 28618M106 |  | 7996 | 320 | SH |  | DFND | 05 | 0 | 320 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 8717314 | 8111 | SH |  | SOLE |  | 6219 | 0 | 1892 |
| ELI LILLY  CO | COM | 532457108 |  | 12646834 | 11768 | SH |  | DFND | 04 | 0 | 11768 | 0 |
| EMERALD HOLDING INC | COM | 29103W104 |  | 58320 | 13047 | SH |  | SOLE |  | 13047 | 0 | 0 |
| ENCOMPASS HEALTH CORP | COM | 29261A100 |  | 69864778 | 658231 | SH |  | SOLE |  | 510527 | 0 | 147704 |
| ENCOMPASS HEALTH CORP | COM | 29261A100 |  | 8510322 | 80180 | SH |  | DFND | 05 | 0 | 80180 | 0 |
| ENCOMPASS HEALTH CORP | COM | 29261A100 |  | 2790632 | 26292 | SH |  | DFND | 04 | 0 | 26292 | 0 |
| ENERGY SVCS ACQUISITION CORP | COM | 29271Q103 |  | 52696 | 6450 | SH |  | SOLE |  | 6450 | 0 | 0 |
| ENSIGN GROUP INC | COM | 29358P101 |  | 94441653 | 542144 | SH |  | SOLE |  | 422068 | 0 | 120076 |
| ENSIGN GROUP INC | COM | 29358P101 |  | 13013752 | 74705 | SH |  | DFND | 05 | 0 | 74705 | 0 |
| ENSIGN GROUP INC | COM | 29358P101 |  | 4276784 | 24551 | SH |  | DFND | 04 | 0 | 24551 | 0 |
| EQUINIX INC | COM | 29444U700 |  | 3822478 | 4988 | SH |  | SOLE |  | 4552 | 0 | 436 |
| EQUINIX INC | COM | 29444U700 |  | 6762894 | 8827 | SH |  | DFND | 04 | 0 | 8827 | 0 |
| EQUITY LIFESTYLE PPTYS INC | COM | 29472R108 |  | 907609 | 14974 | SH |  | SOLE |  | 12822 | 0 | 2152 |
| ESPEY MFG  ELECTRS CORP | COM | 296650104 |  | 60939 | 1293 | SH |  | SOLE |  | 1293 | 0 | 0 |
| ESQUIRE FINL HLDGS INC | COM | 29667J101 |  | 27104770 | 265550 | SH |  | SOLE |  | 197161 | 0 | 68389 |
| EXCELERATE ENERGY INC CL A COM | COM | 30069T101 |  | 30657706 | 1092965 | SH |  | SOLE |  | 808992 | 0 | 283973 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 376062 | 3125 | SH |  | SOLE |  | 125 | 0 | 3000 |
| FACTSET RESH SYS INC | COM | 303075105 |  | 15322842 | 52802 | SH |  | SOLE |  | 46348 | 0 | 6454 |
| FACTSET RESH SYS INC | COM | 303075105 |  | 5927798 | 20427 | SH |  | DFND | 05 | 0 | 20427 | 0 |
| FACTSET RESH SYS INC | COM | 303075105 |  | 2625639 | 9048 | SH |  | DFND | 04 | 0 | 9048 | 0 |
| FEDERAL AGRIC MTG CORP CL C | COM | 313148306 |  | 42295809 | 240905 | SH |  | SOLE |  | 178518 | 0 | 62387 |
| FIRSTSERVICE CORP NEW SUB VTG | COM | 33767E202 |  | 45522665 | 292693 | SH |  | SOLE |  | 227867 | 0 | 64826 |
| FIRSTSERVICE CORP NEW SUB VTG | COM | 33767E202 |  | 6076916 | 39072 | SH |  | DFND | 05 | 0 | 39072 | 0 |
| FIRSTSERVICE CORP NEW SUB VTG | COM | 33767E202 |  | 2220501 | 14277 | SH |  | DFND | 04 | 0 | 14277 | 0 |
| FLEXSTEEL INDS INC | COM | 339382103 |  | 59392 | 1504 | SH |  | SOLE |  | 1504 | 0 | 0 |
| FORTIS INC | COM | 349553107 |  | 2960 | 57 | SH |  | SOLE |  | 57 | 0 | 0 |
| FS BANCORP INC | COM | 30263Y104 |  | 71182 | 1729 | SH |  | SOLE |  | 1729 | 0 | 0 |
| GE AEROSPACE COM NEW | COM | 369604301 |  | 243382 | 790 | SH |  | SOLE |  | 356 | 0 | 434 |
| GE VERNOVA INC | COM | 36828A101 |  | 41828 | 64 | SH |  | SOLE |  | 0 | 0 | 64 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 9763 | 29 | SH |  | SOLE |  | 29 | 0 | 0 |
| GFL ENVIRONMENTAL INC SUB VTG | COM | 36168Q104 |  | 14938783 | 347818 | SH |  | SOLE |  | 308437 | 0 | 39381 |
| GFL ENVIRONMENTAL INC SUB VTG | COM | 36168Q104 |  | 8225020 | 191502 | SH |  | DFND | 05 | 0 | 191502 | 0 |
| GFL ENVIRONMENTAL INC SUB VTG | COM | 36168Q104 |  | 2713280 | 63173 | SH |  | DFND | 04 | 0 | 63173 | 0 |
| GLOBAL INDUSTRIAL COMPANY | COM | 37892E102 |  | 64780 | 2217 | SH |  | SOLE |  | 2217 | 0 | 0 |
| GLOBE LIFE INC | COM | 37959E102 |  | 23496 | 168 | SH |  | SOLE |  | 168 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 29886 | 34 | SH |  | SOLE |  | 34 | 0 | 0 |
| GORMAN RUPP CO | COM | 383082104 |  | 61645 | 1291 | SH |  | SOLE |  | 1291 | 0 | 0 |
| HACKETT GROUP INC | COM | 404609109 |  | 64759 | 3299 | SH |  | SOLE |  | 3299 | 0 | 0 |
| HAMILTON LANE INC CL A | COM | 407497106 |  | 57904149 | 431123 | SH |  | SOLE |  | 338900 | 0 | 92223 |
| HAMILTON LANE INC CL A | COM | 407497106 |  | 9296879 | 69219 | SH |  | DFND | 05 | 0 | 69219 | 0 |
| HAMILTON LANE INC CL A | COM | 407497106 |  | 3199801 | 23824 | SH |  | DFND | 04 | 0 | 23824 | 0 |
| HEALTHSTREAM INC | COM | 42222N103 |  | 20475882 | 887553 | SH |  | SOLE |  | 654925 | 0 | 232628 |
| HENRY JACK  ASSOC INC | COM | 426281101 |  | 18196738 | 99718 | SH |  | SOLE |  | 88232 | 0 | 11486 |
| HENRY JACK  ASSOC INC | COM | 426281101 |  | 9115056 | 49950 | SH |  | DFND | 05 | 0 | 49950 | 0 |
| HENRY JACK  ASSOC INC | COM | 426281101 |  | 3094678 | 16959 | SH |  | DFND | 04 | 0 | 16959 | 0 |
| HEXCEL CORP NEW | COM | 428291108 |  | 57884232 | 783277 | SH |  | SOLE |  | 612675 | 0 | 170602 |
| HEXCEL CORP NEW | COM | 428291108 |  | 8814487 | 119275 | SH |  | DFND | 05 | 0 | 119275 | 0 |
| HEXCEL CORP NEW | COM | 428291108 |  | 2923631 | 39562 | SH |  | DFND | 04 | 0 | 39562 | 0 |
| HOME BANCSHARES INC | COM | 436893200 |  | 60566339 | 2180212 | SH |  | SOLE |  | 1702283 | 0 | 477929 |
| HOME BANCSHARES INC | COM | 436893200 |  | 9110799 | 327962 | SH |  | DFND | 05 | 0 | 327962 | 0 |
| HOME BANCSHARES INC | COM | 436893200 |  | 3162502 | 113841 | SH |  | DFND | 04 | 0 | 113841 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 3454275 | 10038 | SH |  | SOLE |  | 9180 | 0 | 858 |
| HOME DEPOT INC | COM | 437076102 |  | 6455316 | 18760 | SH |  | DFND | 04 | 0 | 18760 | 0 |
| HUNT J B TRANS SVCS INC | COM | 445658107 |  | 1291006 | 6642 | SH |  | SOLE |  | 5720 | 0 | 922 |
| HUNTINGTON INGALLS INDS INC | COM | 446413106 |  | 125135 | 367 | SH |  | DFND | 05 | 0 | 367 | 0 |
| IDT CORP CL B NEW | COM | 448947507 |  | 65856 | 1286 | SH |  | SOLE |  | 1286 | 0 | 0 |
| IMMERSION CORP | COM | 452521107 |  | 55331 | 8137 | SH |  | SOLE |  | 8137 | 0 | 0 |
| INTER PARFUMS INC | COM | 458334109 |  | 6156 | 72 | SH |  | DFND | 05 | 0 | 72 | 0 |
| INTL GNRL INSURANCE HLDNGS LTD | COM | G4809J106 |  | 69373 | 2765 | SH |  | SOLE |  | 2765 | 0 | 0 |
| INTUIT | COM | 461202103 |  | 5576575 | 8417 | SH |  | SOLE |  | 7448 | 0 | 969 |
| INTUIT | COM | 461202103 |  | 9014211 | 13608 | SH |  | DFND | 04 | 0 | 13608 | 0 |
| INVESTAR HLDG CORP | COM | 46134L105 |  | 61856 | 2315 | SH |  | SOLE |  | 2315 | 0 | 0 |
| IRADIMED CORP | COM | 46266A109 |  | 40132980 | 412550 | SH |  | SOLE |  | 306984 | 0 | 105566 |
| IRON MTN INC DEL | COM | 46284V101 |  | 89171 | 1075 | SH |  | SOLE |  | 1075 | 0 | 0 |
| ITURAN LOCATION AND CONTROL | COM | M6158M104 |  | 80471 | 1871 | SH |  | SOLE |  | 1871 | 0 | 0 |
| J JILL INC | COM | 46620W201 |  | 52314 | 3813 | SH |  | SOLE |  | 3813 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 378304 | 1828 | SH |  | SOLE |  | 0 | 0 | 1828 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 7070988 | 21944 | SH |  | SOLE |  | 20018 | 0 | 1926 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 12680323 | 39353 | SH |  | DFND | 04 | 0 | 39353 | 0 |
| KARAT PACKAGING INC | COM | 48563L101 |  | 46561 | 2063 | SH |  | SOLE |  | 2063 | 0 | 0 |
| KAROOOOO LTD ORD SHS | COM | Y4600W108 |  | 60469 | 1329 | SH |  | SOLE |  | 1329 | 0 | 0 |
| KBR INC | COM | 48242W106 |  | 44618969 | 1109923 | SH |  | SOLE |  | 865733 | 0 | 244190 |
| KBR INC | COM | 48242W106 |  | 5731324 | 142570 | SH |  | DFND | 05 | 0 | 142570 | 0 |
| KBR INC | COM | 48242W106 |  | 2381327 | 59237 | SH |  | DFND | 04 | 0 | 59237 | 0 |
| KFORCE INC | COM | 493732101 |  | 13598983 | 439811 | SH |  | SOLE |  | 324349 | 0 | 115462 |
| KINSALE CAP GROUP INC | COM | 49714P108 |  | 39154216 | 100107 | SH |  | SOLE |  | 79448 | 0 | 20659 |
| KINSALE CAP GROUP INC | COM | 49714P108 |  | 5617453 | 14362 | SH |  | DFND | 05 | 0 | 14362 | 0 |
| KINSALE CAP GROUP INC | COM | 49714P108 |  | 7441449 | 19026 | SH |  | DFND | 04 | 0 | 19026 | 0 |
| KOPPERS HOLDINGS INC | COM | 50060P106 |  | 54972 | 2030 | SH |  | SOLE |  | 2030 | 0 | 0 |
| KULICKE  SOFFA INDS INC | COM | 501242101 |  | 55159596 | 1210702 | SH |  | SOLE |  | 951814 | 0 | 258888 |
| KULICKE  SOFFA INDS INC | COM | 501242101 |  | 9042173 | 198467 | SH |  | DFND | 05 | 0 | 198467 | 0 |
| KULICKE  SOFFA INDS INC | COM | 501242101 |  | 3107009 | 68196 | SH |  | DFND | 04 | 0 | 68196 | 0 |
| LAKELAND FINL CORP | COM | 511656100 |  | 35130761 | 615680 | SH |  | SOLE |  | 455433 | 0 | 160247 |
| LAM RESEARCH CORP COM NEW | COM | 512807306 |  | 931390 | 5441 | SH |  | SOLE |  | 4528 | 0 | 913 |
| LANDSTAR SYS INC | COM | 515098101 |  | 45190984 | 314480 | SH |  | SOLE |  | 245904 | 0 | 68576 |
| LANDSTAR SYS INC | COM | 515098101 |  | 7097810 | 49393 | SH |  | DFND | 05 | 0 | 49393 | 0 |
| LANDSTAR SYS INC | COM | 515098101 |  | 2494919 | 17362 | SH |  | DFND | 04 | 0 | 17362 | 0 |
| LEMAITRE VASCULAR INC | COM | 525558201 |  | 61274794 | 755545 | SH |  | SOLE |  | 587247 | 0 | 168298 |
| LEMAITRE VASCULAR INC | COM | 525558201 |  | 8122333 | 100152 | SH |  | DFND | 05 | 0 | 100152 | 0 |
| LEMAITRE VASCULAR INC | COM | 525558201 |  | 2699008 | 33280 | SH |  | DFND | 04 | 0 | 33280 | 0 |
| LIFEVANTAGE CORP COM NEW | COM | 53222K205 |  | 27954 | 4538 | SH |  | SOLE |  | 4538 | 0 | 0 |
| LINDSAY CORP | COM | 535555106 |  | 61528 | 522 | SH |  | SOLE |  | 522 | 0 | 0 |
| LITTELFUSE INC | COM | 537008104 |  | 61542919 | 243328 | SH |  | SOLE |  | 191760 | 0 | 51568 |
| LITTELFUSE INC | COM | 537008104 |  | 10754090 | 42519 | SH |  | DFND | 05 | 0 | 42519 | 0 |
| LITTELFUSE INC | COM | 537008104 |  | 3608156 | 14266 | SH |  | DFND | 04 | 0 | 14266 | 0 |
| MARRIOTT INTL INC NEW CL A | COM | 571903202 |  | 5381305 | 17345 | SH |  | SOLE |  | 16205 | 0 | 1140 |
| MARRIOTT INTL INC NEW CL A | COM | 571903202 |  | 10002447 | 32241 | SH |  | DFND | 04 | 0 | 32241 | 0 |
| MATADOR RES CO | COM | 576485205 |  | 49521167 | 1166851 | SH |  | SOLE |  | 914585 | 0 | 252266 |
| MATADOR RES CO | COM | 576485205 |  | 8004698 | 188612 | SH |  | DFND | 05 | 0 | 188612 | 0 |
| MATADOR RES CO | COM | 576485205 |  | 3015022 | 71042 | SH |  | DFND | 04 | 0 | 71042 | 0 |
| MATERION CORP | COM | 576690101 |  | 37910088 | 304939 | SH |  | SOLE |  | 226144 | 0 | 78795 |
| MCDONALDS CORP | COM | 580135101 |  | 127142 | 416 | SH |  | SOLE |  | 0 | 0 | 416 |
| MERCK  CO INC | COM | 58933Y105 |  | 63156 | 600 | SH |  | SOLE |  | 0 | 0 | 600 |
| META PLATFORMS INC CL A | COM | 30303M102 |  | 4359963 | 6605 | SH |  | SOLE |  | 6111 | 0 | 494 |
| META PLATFORMS INC CL A | COM | 30303M102 |  | 8171254 | 12379 | SH |  | DFND | 04 | 0 | 12379 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 9091452 | 18798 | SH |  | SOLE |  | 16064 | 0 | 2734 |
| MICROSOFT CORP | COM | 594918104 |  | 15234513 | 31501 | SH |  | DFND | 04 | 0 | 31501 | 0 |
| MONOLITHIC PWR SYS INC | COM | 609839105 |  | 6361202 | 7017 | SH |  | SOLE |  | 6413 | 0 | 604 |
| MONOLITHIC PWR SYS INC | COM | 609839105 |  | 11000491 | 12137 | SH |  | DFND | 04 | 0 | 12137 | 0 |
| MORGAN STANLEY COM NEW | COM | 617446448 |  | 9839763 | 55425 | SH |  | SOLE |  | 50531 | 0 | 4894 |
| MORGAN STANLEY COM NEW | COM | 617446448 |  | 17324265 | 97585 | SH |  | DFND | 04 | 0 | 97585 | 0 |
| MORNINGSTAR INC | COM | 617700109 |  | 13764415 | 63340 | SH |  | SOLE |  | 56176 | 0 | 7164 |
| MORNINGSTAR INC | COM | 617700109 |  | 6614008 | 30435 | SH |  | DFND | 05 | 0 | 30435 | 0 |
| MORNINGSTAR INC | COM | 617700109 |  | 2500586 | 11507 | SH |  | DFND | 04 | 0 | 11507 | 0 |
| MOTOROLA SOLUTIONS INC | COM | 620076307 |  | 5033256 | 13130 | SH |  | SOLE |  | 12147 | 0 | 983 |
| MOTOROLA SOLUTIONS INC | COM | 620076307 |  | 7941623 | 20718 | SH |  | DFND | 04 | 0 | 20718 | 0 |
| MSA SAFETY INC | COM | 553498106 |  | 28510773 | 178035 | SH |  | SOLE |  | 131349 | 0 | 46686 |
| MSC INDUSTRIAL DIRECT CO-A | COM | 553530106 |  | 420 | 5 | SH |  | DFND | 05 | 0 | 5 | 0 |
| MSCI INC | COM | 55354G100 |  | 5110726 | 8907 | SH |  | SOLE |  | 8329 | 0 | 578 |
| MSCI INC | COM | 55354G100 |  | 8510710 | 14834 | SH |  | DFND | 04 | 0 | 14834 | 0 |
| NAPCO SEC TECHNOLOGIES INC | COM | 630402105 |  | 59247043 | 1420792 | SH |  | SOLE |  | 1051774 | 0 | 369018 |
| NASDAQ INC | COM | 631103108 |  | 1314806 | 13536 | SH |  | SOLE |  | 11791 | 0 | 1745 |
| NATIONAL HEALTHCARE CORP | COM | 635906100 |  | 99116 | 723 | SH |  | SOLE |  | 723 | 0 | 0 |
| NATIONAL RESH CORP COM NEW | COM | 637372202 |  | 65000 | 3463 | SH |  | SOLE |  | 3463 | 0 | 0 |
| NATURAL GROCERS BY VITAMIN COT | COM | 63888U108 |  | 63351 | 2529 | SH |  | SOLE |  | 2529 | 0 | 0 |
| NEW YORK TIMES CO CL A | COM | 650111107 |  | 18813266 | 271006 | SH |  | SOLE |  | 239866 | 0 | 31140 |
| NEW YORK TIMES CO CL A | COM | 650111107 |  | 9378449 | 135097 | SH |  | DFND | 05 | 0 | 135097 | 0 |
| NEW YORK TIMES CO CL A | COM | 650111107 |  | 3173049 | 45708 | SH |  | DFND | 04 | 0 | 45708 | 0 |
| NEXPOINT RESIDENTIAL TR INC | COM | 65341D102 |  | 22032438 | 731974 | SH |  | SOLE |  | 540435 | 0 | 191539 |
| NEXPOINT RESIDENTIAL TR INC | COM | 65341D102 |  | 940 | 31 | SH |  | DFND | 05 | 0 | 31 | 0 |
| NEXSTAR MEDIA GROUP INC COMMON | COM | 65336K103 |  | 63233411 | 311417 | SH |  | SOLE |  | 244493 | 0 | 66924 |
| NEXSTAR MEDIA GROUP INC COMMON | COM | 65336K103 |  | 9985054 | 49175 | SH |  | DFND | 05 | 0 | 49175 | 0 |
| NEXSTAR MEDIA GROUP INC COMMON | COM | 65336K103 |  | 3254688 | 16029 | SH |  | DFND | 04 | 0 | 16029 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 808335 | 10067 | SH |  | SOLE |  | 8082 | 0 | 1985 |
| NORDSON CORP | COM | 655663102 |  | 16279515 | 67710 | SH |  | SOLE |  | 60148 | 0 | 7562 |
| NORDSON CORP | COM | 655663102 |  | 8771215 | 36481 | SH |  | DFND | 05 | 0 | 36481 | 0 |
| NORDSON CORP | COM | 655663102 |  | 2915213 | 12125 | SH |  | DFND | 04 | 0 | 12125 | 0 |
| NORTHERN OIL  GAS INC | COM | 665531307 |  | 47878 | 2230 | SH |  | SOLE |  | 2230 | 0 | 0 |
| NORTHERN OIL  GAS INC | COM | 665531307 |  | 5868 | 273 | SH |  | DFND | 05 | 0 | 273 | 0 |
| NRG ENERGY INC COM NEW | COM | 629377508 |  | 4200432 | 26378 | SH |  | SOLE |  | 24615 | 0 | 1763 |
| NRG ENERGY INC COM NEW | COM | 629377508 |  | 7460234 | 46849 | SH |  | DFND | 04 | 0 | 46849 | 0 |
| NVENT ELECTRIC PLC | COM | G6700G107 |  | 16062314 | 157520 | SH |  | SOLE |  | 138718 | 0 | 18802 |
| NVENT ELECTRIC PLC | COM | G6700G107 |  | 9621585 | 94357 | SH |  | DFND | 05 | 0 | 94357 | 0 |
| NVENT ELECTRIC PLC | COM | G6700G107 |  | 3079595 | 30201 | SH |  | DFND | 04 | 0 | 30201 | 0 |
| OIL DRI CORP AMER | COM | 677864100 |  | 53589 | 1095 | SH |  | SOLE |  | 1095 | 0 | 0 |
| OLD DOMINION FREIGHT LINE INC | COM | 679580100 |  | 2011256 | 12826 | SH |  | SOLE |  | 12044 | 0 | 782 |
| OLD DOMINION FREIGHT LINE INC | COM | 679580100 |  | 4498121 | 28687 | SH |  | DFND | 04 | 0 | 28687 | 0 |
| ONESPAN INC | COM | 68287N100 |  | 95208 | 7415 | SH |  | SOLE |  | 6625 | 0 | 790 |
| OTIS WORLDWIDE CORP | COM | 68902V107 |  | 255586 | 2926 | SH |  | SOLE |  | 2926 | 0 | 0 |
| P10 INC COM CL A | COM | 69376K106 |  | 51630 | 5263 | SH |  | SOLE |  | 5263 | 0 | 0 |
| PATRICK INDS INC | COM | 703343103 |  | 47021049 | 433652 | SH |  | SOLE |  | 330930 | 0 | 102722 |
| PATRICK INDS INC | COM | 703343103 |  | 3637288 | 33545 | SH |  | DFND | 05 | 0 | 33545 | 0 |
| PATRICK INDS INC | COM | 703343103 |  | 1279690 | 11802 | SH |  | DFND | 04 | 0 | 11802 | 0 |
| PEPSICO INC | COM | 713448108 |  | 71760 | 500 | SH |  | SOLE |  | 0 | 0 | 500 |
| PERDOCEO ED CORP | COM | 71363P106 |  | 43076756 | 1468692 | SH |  | SOLE |  | 1138672 | 0 | 330020 |
| PERDOCEO ED CORP | COM | 71363P106 |  | 5345182 | 182242 | SH |  | DFND | 05 | 0 | 182242 | 0 |
| PERDOCEO ED CORP | COM | 71363P106 |  | 1933316 | 65916 | SH |  | DFND | 04 | 0 | 65916 | 0 |
| PERRIGO CO PLC | COM | G97822103 |  | 354 | 25 | SH |  | DFND | 05 | 0 | 25 | 0 |
| PFIZER INC | COM | 717081103 |  | 124076 | 4983 | SH |  | SOLE |  | 1494 | 0 | 3489 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 3763704 | 23464 | SH |  | SOLE |  | 21575 | 0 | 1889 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 7490359 | 46698 | SH |  | DFND | 04 | 0 | 46698 | 0 |
| PITNEY BOWES INC | COM | 724479100 |  | 65280 | 6176 | SH |  | SOLE |  | 6176 | 0 | 0 |
| PLUMAS BANCORP | COM | 729273102 |  | 63370 | 1418 | SH |  | SOLE |  | 1418 | 0 | 0 |
| POOL CORP | COM | 73278L105 |  | 10680360 | 46689 | SH |  | SOLE |  | 41271 | 0 | 5418 |
| POOL CORP | COM | 73278L105 |  | 3529301 | 15428 | SH |  | DFND | 05 | 0 | 15428 | 0 |
| POOL CORP | COM | 73278L105 |  | 1809183 | 7909 | SH |  | DFND | 04 | 0 | 7909 | 0 |
| POWER INTEGRATIONS INC | COM | 739276103 |  | 35377984 | 995440 | SH |  | SOLE |  | 783443 | 0 | 211997 |
| POWER INTEGRATIONS INC | COM | 739276103 |  | 4207603 | 118390 | SH |  | DFND | 05 | 0 | 118390 | 0 |
| POWER INTEGRATIONS INC | COM | 739276103 |  | 2135136 | 60077 | SH |  | DFND | 04 | 0 | 60077 | 0 |
| PPG INDS INC | COM | 693506107 |  | 95902 | 936 | SH |  | SOLE |  | 0 | 0 | 936 |
| PREFERRED BK LOS ANGELES CA CO | COM | 740367404 |  | 79037 | 837 | SH |  | SOLE |  | 837 | 0 | 0 |
| PRICESMART INC | COM | 741511109 |  | 67466386 | 549982 | SH |  | SOLE |  | 428905 | 0 | 121077 |
| PRICESMART INC | COM | 741511109 |  | 9499476 | 77439 | SH |  | DFND | 05 | 0 | 77439 | 0 |
| PRICESMART INC | COM | 741511109 |  | 3187825 | 25987 | SH |  | DFND | 04 | 0 | 25987 | 0 |
| PRIMERICA INC | COM | 74164M108 |  | 14504588 | 56141 | SH |  | SOLE |  | 49540 | 0 | 6601 |
| PRIMERICA INC | COM | 74164M108 |  | 6527793 | 25266 | SH |  | DFND | 05 | 0 | 25266 | 0 |
| PRIMERICA INC | COM | 74164M108 |  | 2520818 | 9757 | SH |  | DFND | 04 | 0 | 9757 | 0 |
| PROSPERITY BANCSHARES INC | COM | 743606105 |  | 15000947 | 217059 | SH |  | SOLE |  | 192715 | 0 | 24344 |
| PROSPERITY BANCSHARES INC | COM | 743606105 |  | 8128139 | 117611 | SH |  | DFND | 05 | 0 | 117611 | 0 |
| PROSPERITY BANCSHARES INC | COM | 743606105 |  | 2691281 | 38942 | SH |  | DFND | 04 | 0 | 38942 | 0 |
| QUAKER HOUGHTON | COM | 747316107 |  | 37583213 | 273710 | SH |  | SOLE |  | 209488 | 0 | 64222 |
| QUAKER HOUGHTON | COM | 747316107 |  | 3586344 | 26118 | SH |  | DFND | 05 | 0 | 26118 | 0 |
| QUAKER HOUGHTON | COM | 747316107 |  | 1153815 | 8403 | SH |  | DFND | 04 | 0 | 8403 | 0 |
| QUEST DIAGNOSTICS INC | COM | 74834L100 |  | 16158072 | 93114 | SH |  | SOLE |  | 83091 | 0 | 10023 |
| QUEST DIAGNOSTICS INC | COM | 74834L100 |  | 8744560 | 50392 | SH |  | DFND | 05 | 0 | 50392 | 0 |
| QUEST DIAGNOSTICS INC | COM | 74834L100 |  | 2799212 | 16131 | SH |  | DFND | 04 | 0 | 16131 | 0 |
| RANGER ENERGY SVCS INC COM CL | COM | 75282U104 |  | 56269 | 4025 | SH |  | SOLE |  | 4025 | 0 | 0 |
| RCI HOSPITALITY HLDGS INC | COM | 74934Q108 |  | 35497 | 1489 | SH |  | SOLE |  | 1489 | 0 | 0 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 1108405 | 1436 | SH |  | SOLE |  | 1233 | 0 | 203 |
| RELIANCE INC | COM | 759509102 |  | 19582105 | 67788 | SH |  | SOLE |  | 61008 | 0 | 6780 |
| RELIANCE INC | COM | 759509102 |  | 8629162 | 29872 | SH |  | DFND | 05 | 0 | 29872 | 0 |
| RELIANCE INC | COM | 759509102 |  | 9566218 | 33116 | SH |  | DFND | 04 | 0 | 33116 | 0 |
| REPOSITRAK INC COM NEW | COM | 700215304 |  | 45138 | 3649 | SH |  | SOLE |  | 3649 | 0 | 0 |
| RESMED INC | COM | 761152107 |  | 1029484 | 4273 | SH |  | SOLE |  | 3771 | 0 | 502 |
| RILEY EXPLORATION PERMIAN INC | COM | 76665T102 |  | 59109 | 2239 | SH |  | SOLE |  | 2239 | 0 | 0 |
| ROLLINS INC | COM | 775711104 |  | 27579 | 459 | SH |  | SOLE |  | 0 | 0 | 459 |
| ROSS STORES INC | COM | 778296103 |  | 6238097 | 34629 | SH |  | SOLE |  | 31021 | 0 | 3608 |
| ROSS STORES INC | COM | 778296103 |  | 9275588 | 51491 | SH |  | DFND | 04 | 0 | 51491 | 0 |
| ROYAL BK CDA MONTREAL QUE | COM | 780087102 |  | 3921 | 23 | SH |  | SOLE |  | 23 | 0 | 0 |
| ROYAL GOLD INC | COM | 780287108 |  | 18462073 | 83054 | SH |  | SOLE |  | 73463 | 0 | 9591 |
| ROYAL GOLD INC | COM | 780287108 |  | 9375632 | 42177 | SH |  | DFND | 05 | 0 | 42177 | 0 |
| ROYAL GOLD INC | COM | 780287108 |  | 3151405 | 14177 | SH |  | DFND | 04 | 0 | 14177 | 0 |
| RYMAN HOSPITALITY PPTYS INC | COM | 78377T107 |  | 14711328 | 155478 | SH |  | SOLE |  | 136867 | 0 | 18611 |
| RYMAN HOSPITALITY PPTYS INC | COM | 78377T107 |  | 7291175 | 77057 | SH |  | DFND | 05 | 0 | 77057 | 0 |
| RYMAN HOSPITALITY PPTYS INC | COM | 78377T107 |  | 2817026 | 29772 | SH |  | DFND | 04 | 0 | 29772 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 4783942 | 18058 | SH |  | SOLE |  | 16724 | 0 | 1334 |
| SALESFORCE INC | COM | 79466L302 |  | 8604806 | 32482 | SH |  | DFND | 04 | 0 | 32482 | 0 |
| SANDRIDGE ENERGY INC COM NEW | COM | 80007P869 |  | 52236 | 3620 | SH |  | SOLE |  | 3620 | 0 | 0 |
| SEI INVTS CO | COM | 784117103 |  | 18126 | 221 | SH |  | SOLE |  | 221 | 0 | 0 |
| SENSATA TECHNOLOGIES HLDG PLC | COM | G8060N102 |  | 237974 | 7148 | SH |  | DFND | 05 | 0 | 7148 | 0 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 4548455 | 14037 | SH |  | SOLE |  | 13125 | 0 | 912 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 7583922 | 23405 | SH |  | DFND | 04 | 0 | 23405 | 0 |
| SHOE CARNIVAL INC | COM | 824889109 |  | 25670091 | 1520739 | SH |  | SOLE |  | 1122823 | 0 | 397916 |
| SNAP ON INC | COM | 833034101 |  | 1033 | 3 | SH |  | DFND | 05 | 0 | 3 | 0 |
| SOLVENTUM CORP COM SHS | COM | 83444M101 |  | 29635 | 374 | SH |  | SOLE |  | 0 | 0 | 374 |
| SS TECHNOLOGIES HLDGS INC | COM | 78467J100 |  | 237694 | 2719 | SH |  | SOLE |  | 2651 | 0 | 68 |
| STANDEX INTL CORP | COM | 854231107 |  | 43052860 | 198144 | SH |  | SOLE |  | 155955 | 0 | 42189 |
| STANDEX INTL CORP | COM | 854231107 |  | 7865038 | 36197 | SH |  | DFND | 05 | 0 | 36197 | 0 |
| STANDEX INTL CORP | COM | 854231107 |  | 2499154 | 11502 | SH |  | DFND | 04 | 0 | 11502 | 0 |
| STATE STR CORP | COM | 857477103 |  | 11610 | 90 | SH |  | SOLE |  | 90 | 0 | 0 |
| STEPAN CO | COM | 858586100 |  | 56358 | 1190 | SH |  | SOLE |  | 1070 | 0 | 120 |
| STERIS PLC SHS USD | COM | G8473T100 |  | 22366772 | 88223 | SH |  | SOLE |  | 78626 | 0 | 9597 |
| STERIS PLC SHS USD | COM | G8473T100 |  | 10324351 | 40724 | SH |  | DFND | 05 | 0 | 40724 | 0 |
| STERIS PLC SHS USD | COM | G8473T100 |  | 11845468 | 46724 | SH |  | DFND | 04 | 0 | 46724 | 0 |
| STEWART INFORMATION SVCS CORP | COM | 860372101 |  | 78620 | 1119 | SH |  | SOLE |  | 1119 | 0 | 0 |
| STRAWBERRY FIELDS REIT INC | COM | 863182101 |  | 82530 | 6300 | SH |  | SOLE |  | 6300 | 0 | 0 |
| STRYKER CORPORATION | COM | 863667101 |  | 5974 | 17 | SH |  | SOLE |  | 17 | 0 | 0 |
| SYNCHRONY FINANCIAL | COM | 87165B103 |  | 219254 | 2628 | SH |  | SOLE |  | 0 | 0 | 2628 |
| TERRENO RLTY CORP | COM | 88146M101 |  | 46936040 | 799455 | SH |  | SOLE |  | 626470 | 0 | 172985 |
| TERRENO RLTY CORP | COM | 88146M101 |  | 8247283 | 140474 | SH |  | DFND | 05 | 0 | 140474 | 0 |
| TERRENO RLTY CORP | COM | 88146M101 |  | 2786728 | 47466 | SH |  | DFND | 04 | 0 | 47466 | 0 |
| TETRA TECH INC NEW | COM | 88162G103 |  | 46195657 | 1377329 | SH |  | SOLE |  | 1080680 | 0 | 296649 |
| TETRA TECH INC NEW | COM | 88162G103 |  | 7120839 | 212308 | SH |  | DFND | 05 | 0 | 212308 | 0 |
| TETRA TECH INC NEW | COM | 88162G103 |  | 2463613 | 73453 | SH |  | DFND | 04 | 0 | 73453 | 0 |
| TEXAS ROADHOUSE INC | COM | 882681109 |  | 190070 | 1145 | SH |  | SOLE |  | 1145 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 39631 | 258 | SH |  | SOLE |  | 47 | 0 | 211 |
| TOWNSQUARE MEDIA INC CL A | COM | 892231101 |  | 40014 | 7785 | SH |  | SOLE |  | 7785 | 0 | 0 |
| TRACTOR SUPPLY CO | COM | 892356106 |  | 230496 | 4609 | SH |  | SOLE |  | 4609 | 0 | 0 |
| TRACTOR SUPPLY CO | COM | 892356106 |  | 1500 | 30 | SH |  | DFND | 05 | 0 | 30 | 0 |
| TRANSUNION | COM | 89400J107 |  | 18808919 | 219346 | SH |  | SOLE |  | 194457 | 0 | 24889 |
| TRANSUNION | COM | 89400J107 |  | 9454532 | 110256 | SH |  | DFND | 05 | 0 | 110256 | 0 |
| TRANSUNION | COM | 89400J107 |  | 3240578 | 37791 | SH |  | DFND | 04 | 0 | 37791 | 0 |
| TRAVEL PLUS LEISURE CO | COM | 894164102 |  | 63180156 | 895791 | SH |  | SOLE |  | 707446 | 0 | 188345 |
| TRAVEL PLUS LEISURE CO | COM | 894164102 |  | 11719323 | 166160 | SH |  | DFND | 05 | 0 | 166160 | 0 |
| TRAVEL PLUS LEISURE CO | COM | 894164102 |  | 3833658 | 54355 | SH |  | DFND | 04 | 0 | 54355 | 0 |
| TURNING PT BRANDS INC | COM | 90041L105 |  | 22133979 | 204188 | SH |  | SOLE |  | 150773 | 0 | 53415 |
| U S PHYSICAL THERAPY | COM | 90337L108 |  | 51505460 | 659565 | SH |  | SOLE |  | 512506 | 0 | 147059 |
| U S PHYSICAL THERAPY | COM | 90337L108 |  | 7331460 | 93884 | SH |  | DFND | 05 | 0 | 93884 | 0 |
| U S PHYSICAL THERAPY | COM | 90337L108 |  | 2550809 | 32665 | SH |  | DFND | 04 | 0 | 32665 | 0 |
| UBS GROUP AG | COM | H42097107 |  | 5835 | 126 | SH |  | SOLE |  | 126 | 0 | 0 |
| UFP INDUSTRIES INC | COM | 90278Q108 |  | 32595165 | 357991 | SH |  | SOLE |  | 280978 | 0 | 77013 |
| UFP INDUSTRIES INC | COM | 90278Q108 |  | 5133425 | 56380 | SH |  | DFND | 05 | 0 | 56380 | 0 |
| UFP INDUSTRIES INC | COM | 90278Q108 |  | 1861972 | 20450 | SH |  | DFND | 04 | 0 | 20450 | 0 |
| UMH PPTYS INC | COM | 903002103 |  | 18293870 | 1149834 | SH |  | SOLE |  | 852273 | 0 | 297561 |
| UNIFIRST CORP MASS | COM | 904708104 |  | 46881469 | 243034 | SH |  | SOLE |  | 190702 | 0 | 52332 |
| UNIFIRST CORP MASS | COM | 904708104 |  | 7480499 | 38779 | SH |  | DFND | 05 | 0 | 38779 | 0 |
| UNIFIRST CORP MASS | COM | 904708104 |  | 2617267 | 13568 | SH |  | DFND | 04 | 0 | 13568 | 0 |
| UNITED STS LIME  MINERALS INC | COM | 911922102 |  | 22266395 | 185956 | SH |  | SOLE |  | 138586 | 0 | 47370 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 273661 | 829 | SH |  | SOLE |  | 829 | 0 | 0 |
| UNIVERSAL DISPLAY CORP | COM | 91347P105 |  | 49214338 | 421426 | SH |  | SOLE |  | 330490 | 0 | 90936 |
| UNIVERSAL DISPLAY CORP | COM | 91347P105 |  | 6896092 | 59052 | SH |  | DFND | 05 | 0 | 59052 | 0 |
| UNIVERSAL DISPLAY CORP | COM | 91347P105 |  | 2711748 | 23221 | SH |  | DFND | 04 | 0 | 23221 | 0 |
| UTAH MED PRODS INC | COM | 917488108 |  | 54952 | 982 | SH |  | SOLE |  | 982 | 0 | 0 |
| UTZ BRANDS INC COM CL A | COM | 918090101 |  | 35809579 | 3449862 | SH |  | SOLE |  | 2547345 | 0 | 902517 |
| VALMONT INDS INC | COM | 920253101 |  | 69841474 | 173596 | SH |  | SOLE |  | 136166 | 0 | 37430 |
| VALMONT INDS INC | COM | 920253101 |  | 11099751 | 27589 | SH |  | DFND | 05 | 0 | 27589 | 0 |
| VALMONT INDS INC | COM | 920253101 |  | 3720655 | 9248 | SH |  | DFND | 04 | 0 | 9248 | 0 |
| VENTAS INC | COM | 92276F100 |  | 238330 | 3080 | SH |  | SOLE |  | 3080 | 0 | 0 |
| VERTIV HOLDINGS CO COM CL A | COM | 92537N108 |  | 903052 | 5574 | SH |  | SOLE |  | 4842 | 0 | 732 |
| VISA INC COM CL A | COM | 92826C839 |  | 8161072 | 23269 | SH |  | SOLE |  | 21006 | 0 | 2263 |
| VISA INC COM CL A | COM | 92826C839 |  | 14145186 | 40333 | SH |  | DFND | 04 | 0 | 40333 | 0 |
| VULCAN MATLS CO | COM | 929160109 |  | 1005725 | 3526 | SH |  | SOLE |  | 3059 | 0 | 467 |
| WABTEC | COM | 929740108 |  | 1036940 | 4858 | SH |  | SOLE |  | 4171 | 0 | 687 |
| WASTE CONNECTIONS INC | COM | 94106B101 |  | 6420185 | 36611 | SH |  | SOLE |  | 33674 | 0 | 2937 |
| WASTE CONNECTIONS INC | COM | 94106B101 |  | 10899500 | 62155 | SH |  | DFND | 04 | 0 | 62155 | 0 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 24045 | 258 | SH |  | SOLE |  | 258 | 0 | 0 |
| WESCO INTL INC | COM | 95082P105 |  | 72175302 | 295026 | SH |  | SOLE |  | 233241 | 0 | 61785 |
| WESCO INTL INC | COM | 95082P105 |  | 12652575 | 51719 | SH |  | DFND | 05 | 0 | 51719 | 0 |
| WESCO INTL INC | COM | 95082P105 |  | 4197777 | 17159 | SH |  | DFND | 04 | 0 | 17159 | 0 |
| WHITESTONE REIT | COM | 966084204 |  | 73992 | 5327 | SH |  | SOLE |  | 5327 | 0 | 0 |
| WILLIAMS SONOMA INC | COM | 969904101 |  | 912773 | 5111 | SH |  | SOLE |  | 4384 | 0 | 727 |
| WILLSCOT HLDGS CORP COM CL A | COM | 971378104 |  | 25930771 | 1377098 | SH |  | SOLE |  | 1014882 | 0 | 362216 |
| WINGSTOP INC | COM | 974155103 |  | 53119809 | 222733 | SH |  | SOLE |  | 175090 | 0 | 47643 |
| WINGSTOP INC | COM | 974155103 |  | 8746346 | 36673 | SH |  | DFND | 05 | 0 | 36673 | 0 |
| WINGSTOP INC | COM | 974155103 |  | 3010697 | 12624 | SH |  | DFND | 04 | 0 | 12624 | 0 |
| WINMARK CORP | COM | 974250102 |  | 26781051 | 66135 | SH |  | SOLE |  | 48965 | 0 | 17170 |
| WINNEBAGO INDS INC | COM | 974637100 |  | 64669 | 1596 | SH |  | SOLE |  | 1596 | 0 | 0 |
| WYNDHAM HOTELS  RESORTS INC | COM | 98311A105 |  | 25520410 | 337749 | SH |  | SOLE |  | 249882 | 0 | 87867 |
| ZOETIS INC CL A | COM | 98978V103 |  | 197537 | 1570 | SH |  | SOLE |  | 471 | 0 | 1099 |
| VANGUARD INTL EQUITY INDEX FDS | ETF | 922042775 |  | 159698 | 2171 | SH |  | SOLE |  | 2171 | 0 | 0 |

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