# EDGAR Filing Document

**Accession Number:** 0001830437
**File Stem:** 0002066578-25-000193
**Filing Date:** 2025-8
**Character Count:** 82181
**Document Hash:** 98a1a68fb913d3a784b2cf73ea947719
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002066578-25-000193.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0002066578-25-000193

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Perpetual Americas Funds Trust
- **CENTRAL INDEX KEY:** 0001830437

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23615
- **FILM NUMBER:** 251253938

**BUSINESS ADDRESS:**
- **STREET 1:** 1 CONGRESS STREET, SUITE 3101
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02114
- **BUSINESS PHONE:** 617-993-0716

**MAIL ADDRESS:**
- **STREET 1:** 1 CONGRESS STREET, SUITE 3101
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02114

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** JOHCM Funds Trust
- **DATE OF NAME CHANGE:** 20201029

## Series and Classes Contracts Data

### JOHCM Emerging Markets Opportunities Fund (Series ID: S000070682)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000224743 | Class Z Shares       |  |
| C000224744 | Institutional Shares | JOEMX           |
| C000224745 | Investor Shares      | JOEAX           |
| C000224746 | Advisor Shares       | JOEIX           |

## Nport-Ex

------

**PERPETUAL AMERICAS FUNDS TRUST**

**JOHCM EMERGING MARKETS DISCOVERY FUND**

**SCHEDULE OF INVESTMENTS**

**June 30, 2025 (Unaudited)** 

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage**<br> **of Net**<br> **Assets**<br>| **Shares** | **Value** |
| COMMON STOCKS | 95.4<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Belgium | 1.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cenergy Holdings S.A. |  | 21200 | &nbsp;&nbsp; $243732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Melexis N.V. |  | 3941 | &nbsp;&nbsp; 334942 |
|  |  |  | &nbsp;&nbsp; 578674 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazil | 4.6<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; C&A MODAS S.A. |  | 145900 | &nbsp;&nbsp; 527948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cogna Educacao S.A. |  | 456600 | &nbsp;&nbsp; 236154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Embraer S.A. - ADR |  | 12189 | &nbsp;&nbsp; 693676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grupo Mateus S.A.<sup>(a)</sup> <br>|  | 99800 | &nbsp;&nbsp; 150074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hapvida Participacoes e Investimentos S.A.<sup>(a)(b)</sup> <br>|  | 20867 | &nbsp;&nbsp; 141528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pagseguro Digital Ltd. - Class A |  | 28024 | &nbsp;&nbsp; 270151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rumo S.A. |  | 132500 | &nbsp;&nbsp; 451901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vulcabras S.A. |  | 83100 | &nbsp;&nbsp; 322575 |
|  |  |  | &nbsp;&nbsp; 2794007 |
| &nbsp;&nbsp;&nbsp;&nbsp; Canada | 2.8<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capstone Copper Corp.<sup>(a)</sup> <br>|  | 96708 | &nbsp;&nbsp; 593706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OceanaGold Corp. |  | 25515 | &nbsp;&nbsp; 360123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pan American Silver Corp. |  | 25090 | &nbsp;&nbsp; 712556 |
|  |  |  | &nbsp;&nbsp; 1666385 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chile | 0.5<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enel Chile S.A. - ADR |  | 75229 | &nbsp;&nbsp; 273081 |
| &nbsp;&nbsp;&nbsp;&nbsp; China | 12.7<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Akeso, Inc.<sup>(a)(b)</sup> <br>|  | 36000 | &nbsp;&nbsp; 421684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AsiaInfo Technologies Ltd.<sup>(b)</sup> <br>|  | 345256 | &nbsp;&nbsp; 393198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bethel Automotive Safety Systems Co. Ltd. - Class A |  | 57620 | &nbsp;&nbsp; 424126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; China National Building Material Co. Ltd. - Class H |  | 1200779 | &nbsp;&nbsp; 573624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dongfang Electric Corp. Ltd. - Class H |  | 153400 | &nbsp;&nbsp; 261856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GDS Holdings Ltd. - Class A<sup>(a)</sup> <br>|  | 110484 | &nbsp;&nbsp; 415197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kingdee International Software Group Co. Ltd.<sup>(a)</sup> <br>|  | 281254 | &nbsp;&nbsp; 553196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Medlive Technology Co. Ltd.<sup>(b)</sup> <br>|  | 186500 | &nbsp;&nbsp; 348769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Meitu, Inc.<sup>(a)(b)</sup> <br>|  | 806740 | &nbsp;&nbsp; 928014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Minth Group Ltd. |  | 131051 | &nbsp;&nbsp; 373957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nexteer Automotive Group Ltd. |  | 511735 | &nbsp;&nbsp; 371581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Q Technology Group Co. Ltd. |  | 393000 | &nbsp;&nbsp; 415531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tongcheng Travel Holdings Ltd. |  | 233200 | &nbsp;&nbsp; 581667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBTech Robotics Corp. Ltd.<sup>(a)</sup> <br>|  | 27850 | &nbsp;&nbsp; 294112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uni-President China Holdings Ltd. |  | 317974 | &nbsp;&nbsp; 384812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Weilong Delicious Global Holdings Ltd. |  | 157400 | &nbsp;&nbsp; 290741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yantai China Pet Foods Co. Ltd. - Class A |  | 46800 | &nbsp;&nbsp; 404501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yihai International Holding Ltd. |  | 117969 | &nbsp;&nbsp; 208889 |
|  |  |  | &nbsp;&nbsp; 7645455 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cyprus | 0.7<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Theon International PLC |  | 12506 | &nbsp;&nbsp; 448572 |

---

------

**PERPETUAL AMERICAS FUNDS TRUST**

**JOHCM EMERGING MARKETS DISCOVERY FUND**

**SCHEDULE OF INVESTMENTS**

**June 30, 2025 (Unaudited)** 

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage**<br> **of Net**<br> **Assets**<br>| **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Greece | 2.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OPAP S.A. |  | 24609 | &nbsp;&nbsp; $558022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Piraeus Financial Holdings S.A. |  | 94649 | &nbsp;&nbsp; 655795 |
|  |  |  | &nbsp;&nbsp; 1213817 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hong Kong | 2.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cowell e Holdings, Inc.<sup>(a)</sup> <br>|  | 188337 | &nbsp;&nbsp; 653785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sinotruk Hong Kong Ltd. |  | 193000 | &nbsp;&nbsp; 563023 |
|  |  |  | &nbsp;&nbsp; 1216808 |
| &nbsp;&nbsp;&nbsp;&nbsp; India | 21.2<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ashoka Buildcon Ltd.<sup>(a)</sup> <br>|  | 255706 | &nbsp;&nbsp; 634792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aster DM Healthcare Ltd.<sup>(b)</sup> <br>|  | 68203 | &nbsp;&nbsp; 474025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brigade Enterprises Ltd. |  | 59267 | &nbsp;&nbsp; 766960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cartrade Tech Ltd.<sup>(a)</sup> <br>|  | 12030 | &nbsp;&nbsp; 238566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cholamandalam Financial Holdings Ltd. |  | 36605 | &nbsp;&nbsp; 924515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Coromandel International Ltd. |  | 14987 | &nbsp;&nbsp; 437797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exide Industries Ltd. |  | 97749 | &nbsp;&nbsp; 441956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Genus Power Infrastructures Ltd. |  | 191788 | &nbsp;&nbsp; 833705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jyothy Labs Ltd. |  | 97446 | &nbsp;&nbsp; 393318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kaynes Technology India Ltd.<sup>(a)</sup> <br>|  | 6222 | &nbsp;&nbsp; 442200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lemon Tree Hotels Ltd.<sup>(a)(b)</sup> <br>|  | 181900 | &nbsp;&nbsp; 297178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mrs Bectors Food Specialities Ltd. |  | 42943 | &nbsp;&nbsp; 684304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Narayana Hrudayalaya Ltd. |  | 54255 | &nbsp;&nbsp; 1373077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PB Fintech Ltd.<sup>(a)</sup> <br>|  | 34718 | &nbsp;&nbsp; 738365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Phoenix Mills (The) Ltd. |  | 52745 | &nbsp;&nbsp; 960493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PNB Housing Finance Ltd.<sup>(a)(b)</sup> <br>|  | 44248 | &nbsp;&nbsp; 572397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raymond Ltd.<sup>(a)</sup> <br>|  | 25974 | &nbsp;&nbsp; 214855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raymond Realty Ltd.<sup>(a)(c)</sup> <br>|  | 25974 | &nbsp;&nbsp; 347254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shriram Finance Ltd. |  | 72489 | &nbsp;&nbsp; 597468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sobha Ltd. |  | 28806 | &nbsp;&nbsp; 492349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thermax Ltd. |  | 10455 | &nbsp;&nbsp; 416847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Varun Beverages Ltd. |  | 100665 | &nbsp;&nbsp; 537072 |
|  |  |  | &nbsp;&nbsp; 12819493 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesia | 1.2<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aneka Tambang Tbk |  | 2552300 | &nbsp;&nbsp; 477918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank Syariah Indonesia Tbk PT |  | 1665700 | &nbsp;&nbsp; 264706 |
|  |  |  | &nbsp;&nbsp; 742624 |
| &nbsp;&nbsp;&nbsp;&nbsp; Macau | 1.1<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MGM China Holdings Ltd. |  | 415600 | &nbsp;&nbsp; 681906 |
| &nbsp;&nbsp;&nbsp;&nbsp; Malaysia | 0.3<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99 Speed Mart Retail Holdings Bhd. |  | 409067 | &nbsp;&nbsp; 203052 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexico | 2.1<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alsea S.A.B. de C.V. |  | 106100 | &nbsp;&nbsp; 288256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco del Bajio S.A.<sup>(b)</sup> <br>|  | 47500 | &nbsp;&nbsp; 114798 |

---

------

**PERPETUAL AMERICAS FUNDS TRUST**

**JOHCM EMERGING MARKETS DISCOVERY FUND**

**SCHEDULE OF INVESTMENTS**

**June 30, 2025 (Unaudited)** 

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage**<br> **of Net**<br> **Assets**<br>| **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BBB Foods, Inc. - Class A<sup>(a)</sup> <br>|  | 18684 | &nbsp;&nbsp; $518668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GCC S.A.B. de C.V. |  | 34500 | &nbsp;&nbsp; 329933 |
|  |  |  | &nbsp;&nbsp; 1251655 |
| &nbsp;&nbsp;&nbsp;&nbsp; Netherlands | 1.1<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SBM Offshore N.V. |  | 24048 | &nbsp;&nbsp; 637365 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand | 0.4<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; a2 Milk (The) Co. Ltd. |  | 43561 | &nbsp;&nbsp; 229644 |
| &nbsp;&nbsp;&nbsp;&nbsp; Peru | 0.9<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intercorp Financial Services, Inc. |  | 13997 | &nbsp;&nbsp; 533706 |
| &nbsp;&nbsp;&nbsp;&nbsp; Philippines | 1.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Century Pacific Food, Inc. |  | 816500 | &nbsp;&nbsp; 583421 |
| &nbsp;&nbsp;&nbsp;&nbsp; Poland | 3.4<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alior Bank S.A. |  | 22388 | &nbsp;&nbsp; 587597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Budimex S.A. |  | 1390 | &nbsp;&nbsp; 214881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diagnostyka S.A. |  | 11297 | &nbsp;&nbsp; 524050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warsaw Stock Exchange |  | 20858 | &nbsp;&nbsp; 297736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zabka Group S.A.<sup>(a)</sup> <br>|  | 76266 | &nbsp;&nbsp; 457890 |
|  |  |  | &nbsp;&nbsp; 2082154 |
| &nbsp;&nbsp;&nbsp;&nbsp; Russia | 0.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ozon Holdings PLC - ADR<sup>(a)(d)</sup> <br>|  | 7516 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp; Slovenia | 0.9<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nova Ljubljanska Banka dd - REG - GDR |  | 15235 | &nbsp;&nbsp; 538382 |
| &nbsp;&nbsp;&nbsp;&nbsp; South Africa | 2.6<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DataTec Ltd. |  | 81396 | &nbsp;&nbsp; 299952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foschini Group Ltd. |  | 18420 | &nbsp;&nbsp; 134136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impala Platinum Holdings Ltd.<sup>(a)</sup> <br>|  | 83408 | &nbsp;&nbsp; 748770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northam Platinum Holdings Ltd. |  | 35617 | &nbsp;&nbsp; 385688 |
|  |  |  | &nbsp;&nbsp; 1568546 |
| &nbsp;&nbsp;&nbsp;&nbsp; South Korea | 14.3<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; APR Corp.<sup>(a)</sup> <br>|  | 4106 | &nbsp;&nbsp; 469136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNK Financial Group, Inc. |  | 83315 | &nbsp;&nbsp; 768577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Classys, Inc. |  | 15611 | &nbsp;&nbsp; 725259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cosmax, Inc. |  | 5257 | &nbsp;&nbsp; 1088716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Coway Co. Ltd. |  | 7362 | &nbsp;&nbsp; 528039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DL E&C Co. Ltd. |  | 8258 | &nbsp;&nbsp; 316956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HD HYUNDAI MIPO |  | 5356 | &nbsp;&nbsp; 837371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hugel, Inc.<sup>(a)</sup> <br>|  | 2755 | &nbsp;&nbsp; 792042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hyundai Engineering & Construction Co. Ltd. |  | 5834 | &nbsp;&nbsp; 339337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hyundai Rotem Co. Ltd. |  | 1338 | &nbsp;&nbsp; 194811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kakaopay Corp.<sup>(a)</sup> <br>|  | 5286 | &nbsp;&nbsp; 300412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NH Investment & Securities Co. Ltd. |  | 47400 | &nbsp;&nbsp; 702079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Park Systems Corp. |  | 2583 | &nbsp;&nbsp; 546419 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PharmaResearch Co. Ltd. |  | 912 | &nbsp;&nbsp; 333486 |

---

------

**PERPETUAL AMERICAS FUNDS TRUST**

**JOHCM EMERGING MARKETS DISCOVERY FUND**

**SCHEDULE OF INVESTMENTS**

**June 30, 2025 (Unaudited)** 

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage**<br> **of Net**<br> **Assets**<br>| **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RFHIC Corp. |  | 12059 | &nbsp;&nbsp; $243485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanil Electric Co. Ltd. |  | 7318 | &nbsp;&nbsp; 480962 |
|  |  |  | &nbsp;&nbsp; 8667087 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiwan | 14.3<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alltop Technology Co. Ltd. |  | 40383 | &nbsp;&nbsp; 324867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arcadyan Technology Corp. |  | 116348 | &nbsp;&nbsp; 798568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asia Vital Components Co. Ltd. |  | 31560 | &nbsp;&nbsp; 802721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ASPEED Technology, Inc. |  | 4309 | &nbsp;&nbsp; 699925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Century Iron & Steel Industrial Co. Ltd. |  | 53000 | &nbsp;&nbsp; 429994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Elan Microelectronics Corp. |  | 122541 | &nbsp;&nbsp; 509679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Elite Material Co. Ltd. |  | 37354 | &nbsp;&nbsp; 1127832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Evergreen Aviation Technologies Corp. |  | 76000 | &nbsp;&nbsp; 273175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gold Circuit Electronics Ltd. |  | 99337 | &nbsp;&nbsp; 1003164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Johnson Health Tech Co. Ltd. |  | 102501 | &nbsp;&nbsp; 608788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; King Slide Works Co. Ltd. |  | 11785 | &nbsp;&nbsp; 820980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; King Yuan Electronics Co. Ltd. |  | 167000 | &nbsp;&nbsp; 583117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sports Gear Co. Ltd. |  | 77000 | &nbsp;&nbsp; 280724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Universal Microwave Technology, Inc. |  | 30000 | &nbsp;&nbsp; 367657 |
|  |  |  | &nbsp;&nbsp; 8631191 |
| &nbsp;&nbsp;&nbsp;&nbsp; Thailand | 0.9<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Muangthai Capital PCL - NVDR |  | 114100 | &nbsp;&nbsp; 123721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NSL Foods PCL - NVDR |  | 478400 | &nbsp;&nbsp; 434123 |
|  |  |  | &nbsp;&nbsp; 557844 |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkey | 1.3<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Albaraka Turk Katilim Bankasi A.S.<sup>(a)</sup> <br>|  | 603898 | &nbsp;&nbsp; 124062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mavi Giyim Sanayi Ve Ticaret A.S. - Class B<sup>(b)</sup> <br>|  | 287176 | &nbsp;&nbsp; 277384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ulker Biskuvi Sanayi A.S. |  | 152627 | &nbsp;&nbsp; 404780 |
|  |  |  | &nbsp;&nbsp; 806226 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Arab Emirates | 2.1<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emaar Development PJSC |  | 78396 | &nbsp;&nbsp; 288173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Presight AI Holding PLC<sup>(a)</sup> <br>|  | 828897 | &nbsp;&nbsp; 701920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Space42 PLC<sup>(a)</sup> <br>|  | 558582 | &nbsp;&nbsp; 279854 |
|  |  |  | &nbsp;&nbsp; 1269947 |
| TOTAL COMMON STOCKS (Cost $47,733,479) |  |  | &nbsp;&nbsp; 57641042 |
| EQUITY-LINKED SECURITIES | 2.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore | 2.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal Bank Ltd., Issued by CLSA Global Markets Pte. Ltd., Maturity Date <br> 10/25/27<sup>(a)</sup> <br>|  | 339923 | &nbsp;&nbsp; 844734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VA Tech Wabag Ltd., Issued by CLSA Global Markets Pte. Ltd., Maturity Date <br> 7/30/26<sup>(a)</sup> <br>|  | 20318 | &nbsp;&nbsp; 350969 |
|  |  |  | &nbsp;&nbsp; 1195703 |
| TOTAL EQUITY-LINKED SECURITIES (Cost $769,789) |  |  | &nbsp;&nbsp; 1195703 |

---

------

**PERPETUAL AMERICAS FUNDS TRUST**

**JOHCM EMERGING MARKETS DISCOVERY FUND**

**SCHEDULE OF INVESTMENTS**

**June 30, 2025 (Unaudited)** 

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage**<br> **of Net**<br> **Assets**<br>| **Shares** | **Value** |
| PREFERRED STOCKS | 0.9<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazil | 0.9<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marcopolo S.A., 2.89%<sup>(e)</sup> <br>|  | 359200 | &nbsp;&nbsp; $526262 |
| TOTAL PREFERRED STOCKS (Cost $466,609) |  |  | &nbsp;&nbsp; 526262 |
| SHORT-TERM INVESTMENTS | 2.5<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northern Institutional Treasury Portfolio (Premier Class), 4.16%<sup>(f)</sup> <br>|  | 1499599 | &nbsp;&nbsp; 1499599 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $1,499,599) |  |  | &nbsp;&nbsp; 1499599 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS<br> (Cost $50,469,476)<br>| 100.8<br> %<br>|  | &nbsp;&nbsp; 60862606 |
| NET OTHER ASSETS (LIABILITIES) | (0.8<br> %)<br>|  | &nbsp;&nbsp; (473580)<br>|
| NET ASSETS | 100.0<br> %<br>|  | &nbsp;&nbsp; $60389026 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| <sup>(a)</sup>Non-income producing security. |
| <sup>(b)</sup>Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally <br> to qualified institutional buyers. As of June 30, 2025, these securities had a total value of $3,968,975 or 7% of net assets.<br>|
| <sup>(c)</sup>Security valued pursuant to Level 3 unobservable inputs. |
| <sup>(d)</sup>Security valued pursuant to Level 3 unobservable inputs and is restricted for trading. |
| <sup>(e)</sup>Current yield is disclosed. Dividends are calculated based on a percentage of the issuer's net income. |
| <sup>(f)</sup>7-day current yield as of June 30, 2025 is disclosed. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| Abbreviations: |
| ADR – American Depositary Receipt |
| GDR – Global Depositary Receipt |
| NVDR – Non-Voting Depositary Receipt |
| REG – Registered |

---

At June 30, 2025 the industry sectors (excluding short-term investments) for the JOHCM Emerging Markets Discovery Fund were:

---

| | |
|:---|:---|
| **Sector Allocation** | **% of Net Assets** |
| Information Technology  | 21.3% |
| Financials  | 14.8  |
| Consumer Staples  | 12.3  |
| Industrials  | 12.3  |
| Consumer Discretionary  | 11.9  |
| Health Care  | &nbsp;&nbsp; 8.5  |
| Materials  | &nbsp;&nbsp; 8.4  |
| Real Estate  | &nbsp;&nbsp; 4.7  |
| Communication Services  | &nbsp;&nbsp; 2.0  |
| Energy  | &nbsp;&nbsp; 1.1  |
| Utilities  | &nbsp;&nbsp; 1.0  |
| Total | &nbsp;&nbsp; 98.3% |

---

------

**PERPETUAL AMERICAS FUNDS TRUST**

**JOHCM EMERGING MARKETS OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS**

**June 30, 2025 (Unaudited)** 

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage**<br> **of Net**<br> **Assets**<br>| **Shares** | **Value** |
| COMMON STOCKS | 95.7<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazil | 6.8<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arcos Dorados Holdings, Inc. - Class A |  | 636273 | &nbsp;&nbsp; $5020194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; B3 S.A. - Brasil Bolsa Balcao |  | 9527957 | &nbsp;&nbsp; 25568757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco BTG Pactual S.A.<sup>(a)</sup> <br>|  | 3757353 | &nbsp;&nbsp; 29218708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petroleo Brasileiro S.A. - ADR |  | 1459835 | &nbsp;&nbsp; 18262536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vamos Locacao de Caminhoes Maquinas e Equipamentos S.A.<sup>(a)</sup> <br>|  | 6265918 | &nbsp;&nbsp; 4820735 |
|  |  |  | &nbsp;&nbsp; 82890930 |
| &nbsp;&nbsp;&nbsp;&nbsp; Canada | 2.4<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Barrick Mining Corp. |  | 1405595 | &nbsp;&nbsp; 29264488 |
| &nbsp;&nbsp;&nbsp;&nbsp; China | 25.9<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; China Oilfield Services Ltd. - Class H |  | 9402288 | &nbsp;&nbsp; 7713519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; China Resources Land Ltd. |  | 5459000 | &nbsp;&nbsp; 18498131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ENN Energy Holdings Ltd. |  | 2896076 | &nbsp;&nbsp; 23131863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; H World Group Ltd. |  | 1578300 | &nbsp;&nbsp; 5338106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Imeik Technology Development Co. Ltd. - Class A |  | 339420 | &nbsp;&nbsp; 8288899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kunlun Energy Co. Ltd. |  | 4590000 | &nbsp;&nbsp; 4455544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Meituan - Class B<sup>(a)(b)</sup> <br>|  | 2542776 | &nbsp;&nbsp; 40587498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NetEase, Inc. |  | 662900 | &nbsp;&nbsp; 17818190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proya Cosmetics Co. Ltd. - Class A |  | 1297383 | &nbsp;&nbsp; 15005111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tencent Holdings Ltd. |  | 1422784 | &nbsp;&nbsp; 91167504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tongcheng Travel Holdings Ltd. |  | 3044424 | &nbsp;&nbsp; 7593656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trip.com Group Ltd. |  | 689230 | &nbsp;&nbsp; 40037055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tsingtao Brewery Co. Ltd. - Class H |  | 2369730 | &nbsp;&nbsp; 15471266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Xiaomi Corp. - Class B<sup>(a)(b)</sup> <br>|  | 2436000 | &nbsp;&nbsp; 18603711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Xinyi Solar Holdings Ltd. |  | 5263325 | &nbsp;&nbsp; 1669524 |
|  |  |  | &nbsp;&nbsp; 315379577 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hong Kong | 4.4<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hong Kong Exchanges & Clearing Ltd. |  | 1012477 | &nbsp;&nbsp; 54016314 |
| &nbsp;&nbsp;&nbsp;&nbsp; India | 10.4<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HCL Technologies Ltd. |  | 354324 | &nbsp;&nbsp; 7141843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HDFC Bank Ltd. - ADR |  | 463606 | &nbsp;&nbsp; 35544672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ICICI Bank Ltd. - ADR |  | 404806 | &nbsp;&nbsp; 13617674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Infosys Ltd. - ADR |  | 233519 | &nbsp;&nbsp; 4327107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Larsen & Toubro Ltd. |  | 500719 | &nbsp;&nbsp; 21426523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reliance Industries Ltd. |  | 560229 | &nbsp;&nbsp; 9802701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tata Consultancy Services Ltd. |  | 504320 | &nbsp;&nbsp; 20358627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UltraTech Cement Ltd. |  | 99640 | &nbsp;&nbsp; 14050216 |
|  |  |  | &nbsp;&nbsp; 126269363 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesia | 4.2<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank Mandiri Persero Tbk PT |  | 75325803 | &nbsp;&nbsp; 22641818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank Rakyat Indonesia Persero Tbk PT |  | 80542854 | &nbsp;&nbsp; 18554375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mitra Adiperkasa Tbk PT |  | 134995109 | &nbsp;&nbsp; 9811779 |
|  |  |  | &nbsp;&nbsp; 51007972 |

---

------

**PERPETUAL AMERICAS FUNDS TRUST**

**JOHCM EMERGING MARKETS OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS**

**June 30, 2025 (Unaudited)** 

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage**<br> **of Net**<br> **Assets**<br>| **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexico | 5.5<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bolsa Mexicana de Valores S.A.B. de C.V. |  | 2781979 | &nbsp;&nbsp; $6373592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cemex S.A.B. de C.V. - ADR |  | 3909946 | &nbsp;&nbsp; 27095926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grupo Financiero Banorte S.A.B. de C.V., Series O |  | 1750056 | &nbsp;&nbsp; 15996675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wal-Mart de Mexico S.A.B. de C.V. |  | 5144546 | &nbsp;&nbsp; 17039278 |
|  |  |  | &nbsp;&nbsp; 66505471 |
| &nbsp;&nbsp;&nbsp;&nbsp; Russia | 0.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gazprom PJSC - ADR<sup>(a)(c)</sup> <br>|  | 306786 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Globaltrans Investment PLC - REG - GDR<sup>(a)(c)</sup> <br>|  | 757185 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore | 2.6<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sea Ltd. - ADR<sup>(a)</sup> <br>|  | 194108 | &nbsp;&nbsp; 31045634 |
| &nbsp;&nbsp;&nbsp;&nbsp; South Africa | 2.1<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FirstRand Ltd. |  | 6099693 | &nbsp;&nbsp; 26078416 |
| &nbsp;&nbsp;&nbsp;&nbsp; South Korea | 7.1<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Samsung Card Co. Ltd. |  | 11303 | &nbsp;&nbsp; 413728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Samsung Electronics Co. Ltd. |  | 137719 | &nbsp;&nbsp; 6102250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Samsung Electronics Co. Ltd. - REG - GDR |  | 6188 | &nbsp;&nbsp; 6812988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Samsung Life Insurance Co. Ltd. |  | 200090 | &nbsp;&nbsp; 18888164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SK Hynix, Inc. |  | 122338 | &nbsp;&nbsp; 26469099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SK Square Co. Ltd.<sup>(a)</sup> <br>|  | 203368 | &nbsp;&nbsp; 27575833 |
|  |  |  | &nbsp;&nbsp; 86262062 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiwan | 11.6<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President Chain Store Corp. |  | 397927 | &nbsp;&nbsp; 3494053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd. |  | 2970816 | &nbsp;&nbsp; 107800389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd. - ADR |  | 17114 | &nbsp;&nbsp; 3876150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yuanta Financial Holding Co. Ltd.<sup>(a)</sup> <br>|  | 22751827 | &nbsp;&nbsp; 26597798 |
|  |  |  | &nbsp;&nbsp; 141768390 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Arab Emirates | 7.3<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Abu Dhabi Commercial Bank PJSC |  | 3445522 | &nbsp;&nbsp; 12646527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aldar Properties PJSC |  | 13479215 | &nbsp;&nbsp; 32738278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emaar Properties PJSC |  | 11875327 | &nbsp;&nbsp; 43975507 |
|  |  |  | &nbsp;&nbsp; 89360312 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Kingdom | 2.4<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anglogold Ashanti PLC |  | 635225 | &nbsp;&nbsp; 28736946 |
| &nbsp;&nbsp;&nbsp;&nbsp; United States | 3.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MercadoLibre, Inc.<sup>(a)</sup> <br>|  | 13867 | &nbsp;&nbsp; 36243207 |
| TOTAL COMMON STOCKS (Cost $966,053,357) |  |  | &nbsp;&nbsp; 1164829082 |
| PREFERRED STOCKS | 3.2<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazil | 3.2<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Azul S.A. - ADR<sup>(a)</sup> <br>|  | 1091964 | &nbsp;&nbsp; 507764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Itau Unibanco Holding S.A. - ADR, 3.66%<sup>(d)</sup> <br>|  | 5684675 | &nbsp;&nbsp; 38598943 |
|  |  |  | &nbsp;&nbsp; 39106707 |
| TOTAL PREFERRED STOCKS (Cost $41,155,597) |  |  | &nbsp;&nbsp; 39106707 |

---

------

**PERPETUAL AMERICAS FUNDS TRUST**

**JOHCM EMERGING MARKETS OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS**

**June 30, 2025 (Unaudited)** 

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage**<br> **of Net**<br> **Assets**<br>| **Shares** | **Value** |
| SHORT-TERM INVESTMENTS | 1.6<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northern Institutional Treasury Portfolio (Premier Class), 4.16%<sup>(e)</sup> <br>|  | 19741973 | &nbsp;&nbsp; $19741973 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $19,741,973) |  |  | &nbsp;&nbsp; 19741973 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS<br> (Cost $1,026,950,927)<br>| 100.5<br> %<br>|  | &nbsp;&nbsp; 1223677762 |
| NET OTHER ASSETS (LIABILITIES) | (0.5<br> %)<br>|  | &nbsp;&nbsp; (5889438)<br>|
| NET ASSETS | 100.0<br> %<br>|  | &nbsp;&nbsp; $1217788324 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| <sup>(a)</sup>Non-income producing security. |
| <sup>(b)</sup>Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally <br> to qualified institutional buyers. As of June 30, 2025, these securities had a total value of $59,191,209 or 5% of net assets.<br>|
| <sup>(c)</sup>Security valued pursuant to Level 3 unobservable inputs and is restricted for trading. |
| <sup>(d)</sup>Current yield is disclosed. Dividends are calculated based on a percentage of issuer's net income. |
| <sup>(e)</sup>7-day current yield as of June 30, 2025 is disclosed. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| Abbreviations: |
| ADR – American Depositary Receipt |
| GDR – Global Depositary Receipt |
| REG – Registered |

---

At June 30, 2025 the industry sectors (excluding short-term investments) for the JOHCM Emerging Markets Opportunities Fund were:

---

| | |
|:---|:---|
| **Sector Allocation** | **% of Net Assets** |
| Financials  | 28.3% |
| Information Technology  | 16.7  |
| Consumer Discretionary  | 11.9  |
| Communication Services  | 11.5  |
| Materials  | &nbsp;&nbsp; 8.1  |
| Real Estate  | &nbsp;&nbsp; 7.8  |
| Industrials  | &nbsp;&nbsp; 4.5  |
| Consumer Staples  | &nbsp;&nbsp; 4.2  |
| Energy  | &nbsp;&nbsp; 2.9  |
| Utilities  | &nbsp;&nbsp; 2.3  |
| Health Care  | &nbsp;&nbsp; 0.7  |
| Total | &nbsp;&nbsp; 98.9% |

---

------

**PERPETUAL AMERICAS FUNDS TRUST**

**JOHCM GLOBAL SELECT FUND**

**SCHEDULE OF INVESTMENTS**

**June 30, 2025 (Unaudited)** 

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage**<br> **of Net**<br> **Assets**<br>| **Shares** | **Value** |
| COMMON STOCKS | 101.9<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Belgium | 2.3<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KBC Group N.V. |  | 1220 | &nbsp;&nbsp; $125976 |
| &nbsp;&nbsp;&nbsp;&nbsp; Canada | 6.2<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Agnico Eagle Mines Ltd. |  | 969 | &nbsp;&nbsp; 115447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ivanhoe Mines Ltd. - Class A<sup>(a)</sup> <br>|  | 15164 | &nbsp;&nbsp; 113918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wheaton Precious Metals Corp. |  | 1257 | &nbsp;&nbsp; 112879 |
|  |  |  | &nbsp;&nbsp; 342244 |
| &nbsp;&nbsp;&nbsp;&nbsp; China | 3.3<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trip.com Group Ltd. |  | 3161 | &nbsp;&nbsp; 183621 |
| &nbsp;&nbsp;&nbsp;&nbsp; France | 2.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Danone S.A. |  | 1376 | &nbsp;&nbsp; 112423 |
| &nbsp;&nbsp;&nbsp;&nbsp; Germany | 9.1<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deutsche Telekom A.G. - REG |  | 3114 | &nbsp;&nbsp; 113602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; E.ON S.E. |  | 6740 | &nbsp;&nbsp; 124053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SAP S.E. |  | 424 | &nbsp;&nbsp; 128933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Siemens Energy A.G.<sup>(a)</sup> <br>|  | 1188 | &nbsp;&nbsp; 137226 |
|  |  |  | &nbsp;&nbsp; 503814 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hong Kong | 3.8<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hong Kong Exchanges & Clearing Ltd. |  | 3997 | &nbsp;&nbsp; 213243 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ireland | 1.7<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jazz Pharmaceuticals PLC<sup>(a)</sup> <br>|  | 898 | &nbsp;&nbsp; 95296 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japan | 11.5<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NEC Corp. |  | 7207 | &nbsp;&nbsp; 211148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Resona Holdings, Inc. |  | 23501 | &nbsp;&nbsp; 217376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sony Group Corp. |  | 8257 | &nbsp;&nbsp; 213872 |
|  |  |  | &nbsp;&nbsp; 642396 |
| &nbsp;&nbsp;&nbsp;&nbsp; Netherlands | 2.1<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Argenx S.E. - ADR<sup>(a)</sup> <br>|  | 210 | &nbsp;&nbsp; 115756 |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore | 2.3<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sea Ltd. - ADR<sup>(a)</sup> <br>|  | 803 | &nbsp;&nbsp; 128432 |
| &nbsp;&nbsp;&nbsp;&nbsp; Switzerland | 2.2<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBS Group A.G. - REG |  | 3643 | &nbsp;&nbsp; 123277 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Kingdom | 2.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unilever PLC |  | 1844 | &nbsp;&nbsp; 112004 |
| &nbsp;&nbsp;&nbsp;&nbsp; United States | 53.4<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ADMA Biologics, Inc.<sup>(a)</sup> <br>|  | 6320 | &nbsp;&nbsp; 115087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. - Class A |  | 731 | &nbsp;&nbsp; 128824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amazon.com, Inc.<sup>(a)</sup> <br>|  | 578 | &nbsp;&nbsp; 126807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Broadcom, Inc. |  | 493 | &nbsp;&nbsp; 135896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cboe Global Markets, Inc. |  | 539 | &nbsp;&nbsp; 125700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CME Group, Inc. |  | 433 | &nbsp;&nbsp; 119344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Coinbase Global, Inc. - Class A<sup>(a)</sup> <br>|  | 382 | &nbsp;&nbsp; 133887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; General Electric Co. |  | 422 | &nbsp;&nbsp; 108619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intercontinental Exchange, Inc. |  | 696 | &nbsp;&nbsp; 127695 |

---

------

**PERPETUAL AMERICAS FUNDS TRUST**

**JOHCM GLOBAL SELECT FUND**

**SCHEDULE OF INVESTMENTS**

**June 30, 2025 (Unaudited)** 

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage**<br> **of Net**<br> **Assets**<br>| **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intuitive Surgical, Inc.<sup>(a)</sup> <br>|  | 218 | &nbsp;&nbsp; $118463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jabil, Inc. |  | 538 | &nbsp;&nbsp; 117338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MercadoLibre, Inc.<sup>(a)</sup> <br>|  | 48 | &nbsp;&nbsp; 125454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Netflix, Inc.<sup>(a)</sup> <br>|  | 102 | &nbsp;&nbsp; 136591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nutanix, Inc. - Class A<sup>(a)</sup> <br>|  | 1593 | &nbsp;&nbsp; 121769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Q2 Holdings, Inc.<sup>(a)</sup> <br>|  | 1371 | &nbsp;&nbsp; 128312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reddit, Inc. - Class A<sup>(a)</sup> <br>|  | 724 | &nbsp;&nbsp; 109013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rubrik, Inc. - Class A<sup>(a)</sup> <br>|  | 1302 | &nbsp;&nbsp; 116646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Salesforce, Inc. |  | 445 | &nbsp;&nbsp; 121347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spotify Technology S.A.<sup>(a)</sup> <br>|  | 176 | &nbsp;&nbsp; 135052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; StoneX Group, Inc.<sup>(a)</sup> <br>|  | 1396 | &nbsp;&nbsp; 127231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Toast, Inc. - Class A<sup>(a)</sup> <br>|  | 2644 | &nbsp;&nbsp; 117103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tradeweb Markets, Inc. - Class A |  | 854 | &nbsp;&nbsp; 125026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uber Technologies, Inc.<sup>(a)</sup> <br>|  | 1438 | &nbsp;&nbsp; 134165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zscaler, Inc.<sup>(a)</sup> <br>|  | 374 | &nbsp;&nbsp; 117414 |
|  |  |  | &nbsp;&nbsp; 2972783 |
| TOTAL COMMON STOCKS (Cost $4,554,893) |  |  | &nbsp;&nbsp; 5671265 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS<br> (Cost $4,554,893)<br>| 101.9<br> %<br>|  | &nbsp;&nbsp; 5671265 |
| NET OTHER ASSETS (LIABILITIES) | (1.9<br> %)<br>|  | &nbsp;&nbsp; (106983)<br>|
| NET ASSETS | 100.0<br> %<br>|  | &nbsp;&nbsp; $5564282 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup>Non-income producing security.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Abbreviations: <br> ADR – American Depositary Receipt <br> REG – Registered

At June 30, 2025 the industry sectors (excluding short-term investments) for the JOHCM Global Select Fund were:

---

| | |
|:---|:---|
| **Sector Allocation** | **% of Net Assets** |
| Financials  | &nbsp;&nbsp; 28.0% |
| Information Technology  | &nbsp;&nbsp; 21.5  |
| Communication Services  | &nbsp;&nbsp; 13.5  |
| Consumer Discretionary  | &nbsp;&nbsp; 11.7  |
| Health Care  | &nbsp;&nbsp;&nbsp; 8.0  |
| Industrials  | &nbsp;&nbsp;&nbsp; 6.8  |
| Materials  | &nbsp;&nbsp;&nbsp; 6.2  |
| Consumer Staples  | &nbsp;&nbsp;&nbsp; 4.0  |
| Utilities  | &nbsp;&nbsp;&nbsp; 2.2  |
| Total | &nbsp;&nbsp; 101.9% |

---

------

**PERPETUAL AMERICAS FUNDS TRUST**

**JOHCM INTERNATIONAL OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS**

**June 30, 2025 (Unaudited)** 

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage**<br> **of Net**<br> **Assets**<br>| **Shares** | **Value** |
| COMMON STOCKS | 95.9<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Australia | 3.7<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; QBE Insurance Group Ltd. |  | 627015 | &nbsp;&nbsp; $9652350 |
| &nbsp;&nbsp;&nbsp;&nbsp; Canada | 4.8<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alimentation Couche-Tard, Inc. |  | 97692 | &nbsp;&nbsp; 4856084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cameco Corp. |  | 51645 | &nbsp;&nbsp; 3835402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Teck Resources Ltd. - Class B |  | 94413 | &nbsp;&nbsp; 3818119 |
|  |  |  | &nbsp;&nbsp; 12509605 |
| &nbsp;&nbsp;&nbsp;&nbsp; France | 13.2<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capgemini S.E. |  | 24967 | &nbsp;&nbsp; 4265903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pernod Ricard S.A. |  | 37656 | &nbsp;&nbsp; 3752593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Publicis Groupe S.A. |  | 74720 | &nbsp;&nbsp; 8421412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanofi S.A. |  | 64996 | &nbsp;&nbsp; 6294166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Schneider Electric S.E. |  | 13376 | &nbsp;&nbsp; 3557763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thales S.A. |  | 28148 | &nbsp;&nbsp; 8275972 |
|  |  |  | &nbsp;&nbsp; 34567809 |
| &nbsp;&nbsp;&nbsp;&nbsp; Germany | 21.5<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brenntag S.E. |  | 77253 | &nbsp;&nbsp; 5114210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deutsche Boerse A.G. |  | 28725 | &nbsp;&nbsp; 9369359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; E.ON S.E. |  | 526973 | &nbsp;&nbsp; 9699186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Heidelberg Materials A.G. |  | 36690 | &nbsp;&nbsp; 8620027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Infineon Technologies A.G. |  | 149362 | &nbsp;&nbsp; 6354109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Merck KGaA |  | 59642 | &nbsp;&nbsp; 7728083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Siemens A.G. - REG |  | 36558 | &nbsp;&nbsp; 9372771 |
|  |  |  | &nbsp;&nbsp; 56257745 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ireland | 2.2<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CRH PLC |  | 63302 | &nbsp;&nbsp; 5832157 |
| &nbsp;&nbsp;&nbsp;&nbsp; Italy | 2.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Leonardo S.p.A. |  | 93783 | &nbsp;&nbsp; 5278338 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japan | 21.2<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Daifuku Co. Ltd. |  | 236685 | &nbsp;&nbsp; 6117437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ebara Corp. |  | 452739 | &nbsp;&nbsp; 8733787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nippon Sanso Holdings Corp. |  | 260560 | &nbsp;&nbsp; 9884652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nitori Holdings Co. Ltd. |  | 33382 | &nbsp;&nbsp; 3226815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pan Pacific International Holdings Corp. |  | 243045 | &nbsp;&nbsp; 8369571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Resona Holdings, Inc. |  | 572064 | &nbsp;&nbsp; 5291408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shin-Etsu Chemical Co. Ltd. |  | 119796 | &nbsp;&nbsp; 3969768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SoftBank Corp. |  | 6343546 | &nbsp;&nbsp; 9823345 |
|  |  |  | &nbsp;&nbsp; 55416783 |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore | 2.1<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DBS Group Holdings Ltd. |  | 159995 | &nbsp;&nbsp; 5651101 |
| &nbsp;&nbsp;&nbsp;&nbsp; Spain | 1.5<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industria de Diseno Textil S.A. |  | 73865 | &nbsp;&nbsp; 3844070 |

---

------

**PERPETUAL AMERICAS FUNDS TRUST**

**JOHCM INTERNATIONAL OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS**

**June 30, 2025 (Unaudited)** 

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage**<br> **of Net**<br> **Assets**<br>| **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Sweden | 4.3<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sandvik AB |  | 228662 | &nbsp;&nbsp; $5242291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Svenska Handelsbanken AB - Class A |  | 453163 | &nbsp;&nbsp; 6056766 |
|  |  |  | &nbsp;&nbsp; 11299057 |
| &nbsp;&nbsp;&nbsp;&nbsp; Switzerland | 5.9<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cie Financiere Richemont S.A. - Class A - REG |  | 26612 | &nbsp;&nbsp; 5012494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Holcim A.G.<sup>(a)</sup> <br>|  | 54161 | &nbsp;&nbsp; 4020522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Roche Holding A.G. (Genusschein) |  | 19692 | &nbsp;&nbsp; 6413022 |
|  |  |  | &nbsp;&nbsp; 15446038 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Kingdom | 13.5<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; B&M European Value Retail S.A. |  | 1312573 | &nbsp;&nbsp; 4889823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Beazley PLC |  | 384841 | &nbsp;&nbsp; 4939157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Compass Group PLC |  | 205042 | &nbsp;&nbsp; 6943394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; National Grid PLC |  | 663571 | &nbsp;&nbsp; 9668681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shell PLC |  | 254510 | &nbsp;&nbsp; 8920733 |
|  |  |  | &nbsp;&nbsp; 35361788 |
| TOTAL COMMON STOCKS (Cost $237,354,581) |  |  | &nbsp;&nbsp; 251116841 |
| SHORT-TERM INVESTMENTS | 3.1<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northern Institutional Treasury Portfolio (Premier Class), 4.16%<sup>(b)</sup> <br>|  | 8030113 | &nbsp;&nbsp; 8030113 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $8,030,113) |  |  | &nbsp;&nbsp; 8030113 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS<br> (Cost $245,384,694)<br>| 99.0<br> %<br>|  | &nbsp;&nbsp; 259146954 |
| NET OTHER ASSETS (LIABILITIES) | 1.0<br> %<br>|  | &nbsp;&nbsp; 2685564 |
| NET ASSETS | 100.0<br> %<br>|  | &nbsp;&nbsp; $261832518 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup>Non-income producing security. <br> <sup>(b)</sup>7-day current yield as of June 30, 2025 is disclosed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Abbreviations: <br> REG – Registered

At June 30, 2025 the industry sectors (excluding short-term investments) for the JOHCM International Opportunities Fund were:

---

| | |
|:---|:---|
| **Sector Allocation** | **% of Net Assets** |
| Industrials  | 19.7% |
| Financials  | 15.6  |
| Materials  | 13.8  |
| Consumer Discretionary  | 12.3  |
| Health Care  | &nbsp;&nbsp; 7.8  |
| Utilities  | &nbsp;&nbsp; 7.4  |
| Communication Services  | &nbsp;&nbsp; 7.0  |
| Energy  | &nbsp;&nbsp; 4.9  |
| Information Technology  | &nbsp;&nbsp; 4.1  |
| Consumer Staples  | &nbsp;&nbsp; 3.3  |
| Total | &nbsp;&nbsp; 95.9% |

---

------

**PERPETUAL AMERICAS FUNDS TRUST**

**JOHCM INTERNATIONAL SELECT FUND**

**SCHEDULE OF INVESTMENTS**

**June 30, 2025 (Unaudited)** 

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage**<br> **of Net**<br> **Assets**<br>| **Shares** | **Value** |
| COMMON STOCKS | 97.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Australia | 2.1<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northern Star Resources Ltd. |  | 5497154 | &nbsp;&nbsp; $67113011 |
| &nbsp;&nbsp;&nbsp;&nbsp; Belgium | 4.5<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KBC Group N.V. |  | 716910 | &nbsp;&nbsp; 74608864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UCB S.A. |  | 351322 | &nbsp;&nbsp; 69090551 |
|  |  |  | &nbsp;&nbsp; 143699415 |
| &nbsp;&nbsp;&nbsp;&nbsp; Canada | 4.3<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ivanhoe Mines Ltd. - Class A<sup>(a)</sup> <br>|  | 8550618 | &nbsp;&nbsp; 64235595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wheaton Precious Metals Corp. (Toronto Exchange) |  | 797259 | &nbsp;&nbsp; 71696227 |
|  |  |  | &nbsp;&nbsp; 135931822 |
| &nbsp;&nbsp;&nbsp;&nbsp; France | 2.1<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Danone S.A. |  | 807873 | &nbsp;&nbsp; 66005340 |
| &nbsp;&nbsp;&nbsp;&nbsp; Germany | 16.3<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deutsche Boerse A.G. |  | 221640 | &nbsp;&nbsp; 72772138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deutsche Telekom A.G. - REG |  | 1828070 | &nbsp;&nbsp; 66690031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; E.ON S.E. |  | 3960285 | &nbsp;&nbsp; 72890908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SAP S.E. |  | 249125 | &nbsp;&nbsp; 75755877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Siemens A.G. - REG |  | 293301 | &nbsp;&nbsp; 75196756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Siemens Energy A.G.<sup>(a)</sup> <br>|  | 697657 | &nbsp;&nbsp; 81477668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zalando S.E.<sup>(a)(b)</sup> <br>|  | 2100451 | &nbsp;&nbsp; 69154630 |
|  |  |  | &nbsp;&nbsp; 513938008 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hong Kong | 2.4<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hong Kong Exchanges & Clearing Ltd. |  | 1398851 | &nbsp;&nbsp; 74629622 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japan | 22.6<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Advantest Corp. |  | 957167 | &nbsp;&nbsp; 70821252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CyberAgent, Inc. |  | 4703787 | &nbsp;&nbsp; 53895688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IHI Corp. |  | 674417 | &nbsp;&nbsp; 73246636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Japan Exchange Group, Inc. |  | 6630999 | &nbsp;&nbsp; 67251651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Japan Steel Works (The) Ltd. |  | 1396348 | &nbsp;&nbsp; 80199953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LY Corp. |  | 20104525 | &nbsp;&nbsp; 74049096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NEC Corp. |  | 2587950 | &nbsp;&nbsp; 75820708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rakuten Bank Ltd.<sup>(a)</sup> <br>|  | 1478310 | &nbsp;&nbsp; 67907508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Resona Holdings, Inc. |  | 8112400 | &nbsp;&nbsp; 75037095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sony Group Corp. |  | 2835546 | &nbsp;&nbsp; 73445968 |
|  |  |  | &nbsp;&nbsp; 711675555 |
| &nbsp;&nbsp;&nbsp;&nbsp; Netherlands | 8.6<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adyen N.V.<sup>(a)(b)</sup> <br>|  | 37174 | &nbsp;&nbsp; 68783670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Argenx S.E.<sup>(a)</sup> <br>|  | 115624 | &nbsp;&nbsp; 63986432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Euronext N.V.<sup>(b)</sup> <br>|  | 402201 | &nbsp;&nbsp; 68744419 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prosus N.V.<sup>(a)</sup> <br>|  | 1221985 | &nbsp;&nbsp; 68330091 |
|  |  |  | &nbsp;&nbsp; 269844612 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand | 2.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Xero Ltd.<sup>(a)</sup> <br>|  | 522209 | &nbsp;&nbsp; 61795798 |

---

------

**PERPETUAL AMERICAS FUNDS TRUST**

**JOHCM INTERNATIONAL SELECT FUND**

**SCHEDULE OF INVESTMENTS**

**June 30, 2025 (Unaudited)** 

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage**<br> **of Net**<br> **Assets**<br>| **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Portugal | 2.3<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Comercial Portugues S.A. |  | 91581739 | &nbsp;&nbsp; $71264681 |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore | 2.4<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sea Ltd. - ADR<sup>(a)</sup> <br>|  | 473362 | &nbsp;&nbsp; 75709518 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sweden | 2.4<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sandvik AB |  | 3264664 | &nbsp;&nbsp; 74845482 |
| &nbsp;&nbsp;&nbsp;&nbsp; Switzerland | 6.8<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Galderma Group A.G. |  | 503026 | &nbsp;&nbsp; 72906913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Roche Holding A.G. (Genusschein) |  | 213360 | &nbsp;&nbsp; 70170164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBS Group A.G. - REG |  | 2139841 | &nbsp;&nbsp; 72411281 |
|  |  |  | &nbsp;&nbsp; 215488358 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Kingdom | 13.2<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrica PLC |  | 32436371 | &nbsp;&nbsp; 71928177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; London Stock Exchange Group PLC |  | 452626 | &nbsp;&nbsp; 67278352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; National Grid PLC |  | 4800431 | &nbsp;&nbsp; 69945546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rolls-Royce Holdings PLC |  | 5524656 | &nbsp;&nbsp; 73377166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unilever PLC |  | 1082811 | &nbsp;&nbsp; 65769686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wise PLC - Class A<sup>(a)</sup> <br>|  | 4735498 | &nbsp;&nbsp; 67601889 |
|  |  |  | &nbsp;&nbsp; 415900816 |
| &nbsp;&nbsp;&nbsp;&nbsp; United States | 5.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MercadoLibre, Inc.<sup>(a)</sup> <br>|  | 31724 | &nbsp;&nbsp; 82914798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spotify Technology S.A.<sup>(a)</sup> <br>|  | 99674 | &nbsp;&nbsp; 76483847 |
|  |  |  | &nbsp;&nbsp; 159398645 |
| TOTAL COMMON STOCKS (Cost $2,473,432,841) |  |  | &nbsp;&nbsp; 3057240683 |
| SHORT-TERM INVESTMENTS | 0.2<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northern Institutional Treasury Portfolio (Premier Class), 4.16%<sup>(c)</sup> <br>|  | 7263156 | &nbsp;&nbsp; 7263156 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $7,263,156) |  |  | &nbsp;&nbsp; 7263156 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS<br> (Cost $2,480,695,997)<br>| 97.2<br> %<br>|  | &nbsp;&nbsp; 3064503839 |
| NET OTHER ASSETS (LIABILITIES) | 2.8<br> %<br>|  | &nbsp;&nbsp; 87546905 |
| NET ASSETS | 100.0<br> %<br>|  | &nbsp;&nbsp; $3152050744 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| <sup>(a)</sup>Non-income producing security. |
| <sup>(b)</sup>Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally <br> to qualified institutional buyers. As of June 30, 2025, these securities had a total value of $206,682,719 or 7% of net assets.<br>|
| <sup>(c)</sup>7-day current yield as of June 30, 2025 is disclosed. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Abbreviations: <br> ADR – American Depositary Receipt <br> REG – Registered

------

**PERPETUAL AMERICAS FUNDS TRUST**

**JOHCM INTERNATIONAL SELECT FUND**

**SCHEDULE OF INVESTMENTS**

**June 30, 2025 (Unaudited)** 

------

At June 30, 2025 the industry sectors (excluding short-term investments) for the JOHCM International Select Fund were:

---

| | |
|:---|:---|
| **Sector Allocation** | **% of Net Assets** |
| Financials  | 26.9% |
| Industrials  | 14.5  |
| Communication Services  | 11.0  |
| Consumer Discretionary  | &nbsp;&nbsp; 9.3  |
| Information Technology  | &nbsp;&nbsp; 9.0  |
| Health Care  | &nbsp;&nbsp; 8.8  |
| Utilities  | &nbsp;&nbsp; 6.8  |
| Materials  | &nbsp;&nbsp; 6.5  |
| Consumer Staples  | &nbsp;&nbsp; 4.2  |
| Total | &nbsp;&nbsp; 97.0% |

---

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Perpetual Americas Funds Trust

- **b. Investment Company Act file number:** 811-23615

- **c. CIK number of Registrant:** 0001830437

- **d. LEI of Registrant:** 549300T1VINOEO8DGR87

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1 Congress Street, Suite 3101

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02114

  - **Telephone number:** 617-993-0716

**Item A.2. Information about the Series.**

- **a. Name of Series:** JOHCM Emerging Markets Opportunities Fund

- **b. EDGAR series identifier (if any):** S000070682

- **c. LEI of Series:** 549300XSPRLPZQSLR003

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $1226593283.57

**Total Liabilities:** $7821674.21

**Net Assets:** $1218771609.36

**Cash Not Reported:** $338346.18

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000224744 | 1.08%                | 5.77%                | 4.75%                |
| Class ID C000224745 | 1.09%                | 5.79%                | 4.69%                |
| Class ID C000224746 | 1.08%                | 5.78%                | 4.76%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $5068996.91              | $-465508.23                                |
| Month 2  | $2148406.62              | $59388530.98                               |
| Month 3  | $-5628653.01             | $58709404.89                               |

### Schedule of Portfolio Investments

| Name                                                  | Title                                                                 | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Itau Unibanco Holding SA                              | Itau Unibanco Holding SA ADR EACH REPR 1 PRF NPV                      | CUSIP: 465562106<br>LEI: 5493002W2IVG62O3ZJ94 | Long             | EC               | CORP              | BR        |   5684675 | NS      | $38598943.25  | 3.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Infosys Ltd.                                          | Infosys Ltd. SPON ADR EACH REP 1 ORD SHS                              | CUSIP: 456788108<br>LEI: 335800TYLGG93MM7PR89 | Long             | EC               | CORP              | IN        |    233519 | NS      | $4327107.07   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.          | Taiwan Semiconductor Manufacturing Co., Ltd. SPON ADS REP 5 ORD TWD10 | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     17114 | NS      | $3876149.86   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleo Brasileiro SA                                | Petroleo Brasileiro SA SPON ADS EACH REP 2 ORD SHS                    | CUSIP: 71654V408<br>LEI: 5493000J801JZRCMFE49 | Long             | EC               | CORP              | BR        |   1459835 | NS      | $18262535.85  | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| China Oilfield Services Ltd.                          | China Oilfield Services Ltd. 'H'CNY1                                  | CUSIP: Y15002101<br>LEI: 529900J4X53VL8QQW675 | Long             | EC               | NUSS              | CN        |   9402288 | NS      | $7713518.52   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Tata Consultancy Services Ltd.                        | Tata Consultancy Services Ltd. INR1                                   | CUSIP: Y85279100<br>LEI: 335800ZJKU9GPQRE2U66 | Long             | EC               | CORP              | IN        |    504320 | NS      | $20358626.87  | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Card Co Ltd                                   | Samsung Card Co Ltd KRW5000                                           | CUSIP: Y7T70U105<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     11303 | NS      | $413728.66    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| NetEase Inc.                                          | NetEase Inc. USD0.0001                                                | CUSIP: G6427A102<br>LEI: 5299004AF4DSJDB0PA32 | Long             | EC               | CORP              | KY        |    662900 | NS      | $17818189.92  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Proya Cosmetics Co Ltd.                               | Proya Cosmetics Co Ltd. A CNY1                                        | CUSIP: Y7S88X100<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |   1297383 | NS      | $15005111.38  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Meituan LLC                                           | Meituan LLC USD0.00001 B CLASS                                        | CUSIP: G59669104<br>LEI: 21380033K525E5JLIA77 | Long             | EC               | CORP              | KY        |   2542776 | NS      | $40587498.37  | 3.33%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Tongcheng Travel Holdings Ltd                         | Tongcheng Travel Holdings Ltd USD0.0005                               | CUSIP: G8918W106<br>LEI: 2549004WGGNOPL8NUL61 | Long             | EC               | CORP              | KY        |   3044424 | NS      | $7593656.26   | 0.62%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Vamos Locacao De Caminhoes Maquinas E Equipamentos SA | Vamos Locacao De Caminhoes Maquinas E Equipamentos SA COM NPV         | CUSIP: P9680U112<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |   6265918 | NS      | $4820735.35   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Institutional Funds                          | Northern Institutional Funds TREAS PRT PRMR                           | CUSIP: 665279873<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        |  19741973 | NS      | $19741972.80  | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| H World Group Ltd.                                    | H World Group Ltd. USD0.00001                                         | CUSIP: G46587112<br>LEI: 549300Y5ML31FVN83730 | Long             | EC               | CORP              | KY        |   1578300 | NS      | $5338105.98   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Imeik Technology Development Co Ltd.                  | Imeik Technology Development Co Ltd. A CNY1                           | CUSIP: Y385KL109<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    339420 | NS      | $8288898.85   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Gazprom Public Joint Stock Company                    | Gazprom Public Joint Stock Company SPON ADR                           | CUSIP: 368287207<br>LEI: 213800FD9J2IHTA7YX78 | Long             | EC               | CORP              | RU        |    306786 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Trip.com Group Ltd.                                   | Trip.com Group Ltd. USD0.00125                                        | CUSIP: G9066F101<br>LEI: 2549004RMYDSRQL4KW41 | Long             | EC               | CORP              | KY        |    689230 | NS      | $40037055.01  | 3.29%             |  |  |  | No            |                  1 | On Loan: No      |
| SK Square Co Ltd                                      | SK Square Co Ltd KRW100                                               | CUSIP: Y8T6X4107<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |    203368 | NS      | $27575832.84  | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Xinyi Solar Holdings Ltd.                             | Xinyi Solar Holdings Ltd. HKD0.10                                     | CUSIP: G9829N102<br>LEI: 529900QF7VIH03SB7Q08 | Long             | EC               | CORP              | KY        |   5263325 | NS      | $1669523.91   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Holdings Ltd.                                 | Tencent Holdings Ltd. HKD0.00002                                      | CUSIP: G87572163<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |   1422784 | NS      | $91167504.51  | 7.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Financiero Banorte S.A.B. de C.V.               | Grupo Financiero Banorte S.A.B. de C.V. COM NPV SERIES O              | CUSIP: P49501201<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |   1750056 | NS      | $15996674.84  | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| CEMEX S.A.B. de C.V.                                  | CEMEX S.A.B. de C.V. SPON ADR REP 10 ORD SHS                          | CUSIP: 151290889<br>LEI: 549300RIG2CXWN6IV731 | Long             | EC               | CORP              | MX        |   3909946 | NS      | $27095925.78  | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI Bank Ltd.                                       | ICICI Bank Ltd. SPON ADR EACH REP 2 ORD SHS                           | CUSIP: 45104G104<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |    404806 | NS      | $13617673.84  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd.                                        | HDFC Bank Ltd. SPON ADS EACH REP 3 ORD SHS                            | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |    463606 | NS      | $35544672.02  | 2.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Xiaomi Corp.                                          | Xiaomi Corp. USD0.0000025 B CLASS                                     | CUSIP: G9830T106<br>LEI: 2549001ACVFAZRNMKL32 | Long             | EC               | CORP              | KY        |   2436000 | NS      | $18603710.85  | 1.53%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Anglogold Ashanti PLC                                 | Anglogold Ashanti PLC COM SHS                                         | CUSIP: G0378L100<br>LEI: 2138005YDSA7A82RNU96 | Long             | EC               | CORP              | GB        |    635225 | NS      | $28736945.70  | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Abu Dhabi Commercial Bank PJSC                        | Abu Dhabi Commercial Bank PJSC AED1                                   | CUSIP: M0152Q104<br>LEI: 213800RWVKKIRX1AUH58 | Long             | EC               | CORP              | AE        |   3445522 | NS      | $12646527.41  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Aldar Properties                                      | Aldar Properties AED1                                                 | CUSIP: M0517N101<br>LEI: 98450048CD8AEF13B480 | Long             | EC               | CORP              | AE        |  13479215 | NS      | $32738277.46  | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd.                           | Samsung Electronics Co Ltd. GDR EACH REP 25 COM STK KRW100(REG S)     | CUSIP: 796050888<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |      6188 | NS      | $6812988.00   | 0.56%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Kunlun Energy Co Ltd.                                 | Kunlun Energy Co Ltd. ORD HKD0.01                                     | CUSIP: G5320C108<br>LEI: 5299007GRIKP15GM4927 | Long             | EC               | CORP              | BM        |   4590000 | NS      | $4455544.30   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Hong Kong Exchanges & Clearing Ltd.                   | Hong Kong Exchanges & Clearing Ltd. NPV                               | CUSIP: Y3506N139<br>LEI: 213800YTVSXYQN17BW16 | Long             | EC               | CORP              | HK        |   1012477 | NS      | $54016314.45  | 4.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Bolsa Mexicana De Valores Sab De Cv                   | Bolsa Mexicana De Valores Sab De Cv SER'A'NPV                         | CUSIP: P17330104<br>LEI: 894500CS2D6RLGW61A19 | Long             | EC               | CORP              | MX        |   2781979 | NS      | $6373592.54   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Wal-Mart De Mexico                                    | Wal-Mart De Mexico COM NPV                                            | CUSIP: P98180188<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |   5144546 | NS      | $17039278.10  | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco BTG Pactual S.A.                                | Banco BTG Pactual S.A. UNITS(1COM & 2PRF A) 02/17                     | CUSIP: P1R8ZJ253<br>LEI: ZXLTQRYIK6IJH3R0IK66 | Long             | EC               | CORP              | BR        |   3757353 | NS      | $29218708.33  | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Azul S.A.                                             | Azul S.A. SPON ADR EACH REP 3 PFD SHS                                 | CUSIP: 05501U106<br>LEI: 549300Z0MWZ57Q9RR205 | Long             | EC               | CORP              | BR        |   1091964 | NS      | $507763.26    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| HCL Technologies Ltd.                                 | HCL Technologies Ltd. INR2                                            | CUSIP: Y3121G147<br>LEI: 549300C1F8OLYSOQYB65 | Long             | EC               | CORP              | IN        |    354324 | NS      | $7141843.13   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Mandiri (Persero) Tbk PT                         | Bank Mandiri (Persero) Tbk PT IDR125                                  | CUSIP: Y7123S108<br>LEI: 549300RSKQN4Z5ZSGH94 | Long             | EC               | CORP              | ID        |  75325803 | NS      | $22641818.21  | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Larsen & Toubro Ltd.                                  | Larsen & Toubro Ltd. INR2                                             | CUSIP: Y5217N159<br>LEI: 3358003FR3JIC5FRXA90 | Long             | EC               | CORP              | IN        |    500719 | NS      | $21426522.69  | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultratech Cement Ltd.                                 | Ultratech Cement Ltd. INR10                                           | CUSIP: Y9046E109<br>LEI: 335800PC9O9B4BQHG814 | Long             | EC               | CORP              | IN        |     99640 | NS      | $14050215.95  | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Industries Ltd.                              | Reliance Industries Ltd. INR10(100%DEMAT)                             | CUSIP: Y72596102<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               | CORP              | IN        |    560229 | NS      | $9802701.00   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitra Adiperkasa Tbk PT                               | Mitra Adiperkasa Tbk PT IDR50                                         | CUSIP: Y71299104<br>LEI: 254900Z2B7Y7F69ZZZ04 | Long             | EC               | CORP              | ID        | 134995109 | NS      | $9811778.79   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Firstrand Ltd                                         | Firstrand Ltd ZAR0.01                                                 | CUSIP: S5202Z131<br>LEI: 529900XYOP8CUZU7R671 | Long             | EC               | CORP              | ZA        |   6099693 | NS      | $26078416.33  | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| China Resources Land Ltd.                             | China Resources Land Ltd. ORD HKD0.10                                 | CUSIP: G2108Y105<br>LEI: 5299001HL0TU7X15HK51 | Long             | EC               | CORP              | HK        |   5459000 | NS      | $18498130.56  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| SK Hynix Inc.                                         | SK Hynix Inc. KRW5000                                                 | CUSIP: Y8085F100<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |    122338 | NS      | $26469098.99  | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| President Chain Store Corp.                           | President Chain Store Corp. TWD10                                     | CUSIP: Y7082T105<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |    397927 | NS      | $3494052.97   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd.                           | Samsung Electronics Co Ltd. KRW100                                    | CUSIP: Y74718100<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |    137719 | NS      | $6102249.70   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercadolibre Inc                                      | Mercadolibre Inc COM USD0.001                                         | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |     13867 | NS      | $36243207.21  | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.          | Taiwan Semiconductor Manufacturing Co., Ltd. TWD10                    | CUSIP: Y84629107<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |   2970816 | NS      | $107800388.88 | 8.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Tsingtao Brewery Group Co Ltd.                        | Tsingtao Brewery Group Co Ltd. SER'H'CNY1                             | CUSIP: Y8997D102<br>LEI: 300300OJ7D0Q1ESE8L15 | Long             | EC               | CORP              | CN        |   2369730 | NS      | $15471265.74  | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Globaltrans Investment PLC                            | Globaltrans Investment PLC SPONS GDR RG S                             | CUSIP: 37949E204<br>LEI: 213800D6EVVEJJW3MD09 | Long             | EC               | CORP              | CY        |    757185 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Samsung Life Insurance Co Ltd.                        | Samsung Life Insurance Co Ltd. KRW500                                 | CUSIP: Y74860100<br>LEI: 988400VYE6E0WYSM4S92 | Long             | EC               | CORP              | KR        |    200090 | NS      | $18888163.90  | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Sea Ltd.                                              | Sea Ltd. ADS EACH REP ONE CL A SHS                                    | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | KY        |    194108 | NS      | $31045633.52  | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| B3 S.A. - Brasil, Bolsa, Balcao                       | B3 S.A. - Brasil, Bolsa, Balcao COM NPV                               | CUSIP: P1909G107<br>LEI: 4GTK5S46E6H318LMDS44 | Long             | EC               | CORP              | BR        |   9527957 | NS      | $25568756.89  | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Yuanta Financial Holding Co., Ltd.                    | Yuanta Financial Holding Co., Ltd. TWD10                              | CUSIP: Y2169H108<br>LEI: 21380045JG57LJEFFE13 | Long             | EC               | CORP              | TW        |  22751827 | NS      | $26597798.58  | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| ENN Energy Holdings Ltd.                              | ENN Energy Holdings Ltd. HKD0.10                                      | CUSIP: G3066L101<br>LEI: 549300V7BXPWT6WIPR03 | Long             | EC               | CORP              | KY        |   2896076 | NS      | $23131862.65  | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Emaar Properties PJSC                                 | Emaar Properties PJSC AED1                                            | CUSIP: M4025S107<br>LEI: 254900YWYEXYXK1BMP81 | Long             | EC               | CORP              | AE        |  11875327 | NS      | $43975507.05  | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Rakyat Indonesia (Persero) Tbk                   | Bank Rakyat Indonesia (Persero) Tbk IDR50                             | CUSIP: Y0697U112<br>LEI: 254900HB6S4B12GBNP64 | Long             | EC               | CORP              | ID        |  80542854 | NS      | $18554374.74  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcos Dorados Holdings Inc                            | Arcos Dorados Holdings Inc COM NPV CL 'A'                             | CUSIP: G0457F107<br>LEI: 54930023P2MIZN13DQ85 | Long             | EC               | CORP              | VG        |    636273 | NS      | $5020193.97   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Mining Corp.                                  | Barrick Mining Corp. COM SHS                                          | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |   1405595 | NS      | $29264487.90  | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-21

**Name of Applicant:** Perpetual Americas Funds Trust

**Signature:** John Stanziani

**Name of Signer:** John Stanziani

**Title:** Treasurer