# EDGAR Filing Document

**Accession Number:** 0001830437
**File Stem:** 0002066578-26-000486
**Filing Date:** 2026-2
**Character Count:** 65525
**Document Hash:** 8b3dea63bda20ba210ce982e5737ed0d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002066578-26-000486.hdr.sgml**: 20260225

**ACCESSION NUMBER**: 0002066578-26-000486

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260225

**DATE AS OF CHANGE**: 20260225

**PERIOD START**: 20260930

**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:** 26679082

**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

### Trillium ESG Global Equity Fund (Series ID: S000081438)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000244332 | Institutional Shares | PORIX           |
| C000244333 | Investor Shares      | PORTX           |

## Nport-Ex

------

**TRILLIUM MUTUAL FUNDS**

**TRILLIUM ESG GLOBAL EQUITY FUND**

**SCHEDULE OF INVESTMENTS**

**December 31, 2025 (Unaudited)** 

------

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

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage**<br> **of Net**<br> **Assets**<br>| **Shares** | **Value** |
| COMMON STOCKS | 98.5<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Apparel & Textile Products | 1.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVMH Moet Hennessy Louis Vuitton S.E. |  | 9980 | &nbsp;&nbsp; $7564881 |
| &nbsp;&nbsp;&nbsp;&nbsp; Asset Management | 1.5<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ares Management Corp. - Class A |  | 37777 | &nbsp;&nbsp; 6105897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LPL Financial Holdings, Inc. |  | 14885 | &nbsp;&nbsp; 5316475 |
|  |  |  | &nbsp;&nbsp; 11422372 |
| &nbsp;&nbsp;&nbsp;&nbsp; Automotive | 1.2<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BYD Co. Ltd. - Class H |  | 445240 | &nbsp;&nbsp; 5454872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Toyota Motor Corp. |  | 179242 | &nbsp;&nbsp; 3849598 |
|  |  |  | &nbsp;&nbsp; 9304470 |
| &nbsp;&nbsp;&nbsp;&nbsp; Banking | 7.2<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp. |  | 140280 | &nbsp;&nbsp; 7715400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credicorp Ltd. |  | 22961 | &nbsp;&nbsp; 6589807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DNB Bank ASA |  | 243153 | &nbsp;&nbsp; 6774432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grupo Financiero Banorte S.A.B. de C.V., Series O |  | 468164 | &nbsp;&nbsp; 4340152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HDFC Bank Ltd. - ADR |  | 171699 | &nbsp;&nbsp; 6273881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KBC Group N.V. |  | 68544 | &nbsp;&nbsp; 8961512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PNC Financial Services Group (The), Inc. |  | 45305 | &nbsp;&nbsp; 9456513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sumitomo Mitsui Trust Group, Inc. |  | 154658 | &nbsp;&nbsp; 4713182 |
|  |  |  | &nbsp;&nbsp; 54824879 |
| &nbsp;&nbsp;&nbsp;&nbsp; Biotechnology & Pharmaceuticals | 6.4<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AstraZeneca PLC |  | 59977 | &nbsp;&nbsp; 11148664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. |  | 55160 | &nbsp;&nbsp; 6770338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Merck & Co., Inc. |  | 72017 | &nbsp;&nbsp; 7580509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Novo Nordisk A/S - Class B |  | 110042 | &nbsp;&nbsp; 5581163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Roche Holding A.G. (Genusschein) |  | 15456 | &nbsp;&nbsp; 6382869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vertex Pharmaceuticals, Inc.<sup>(a)</sup> <br>|  | 24800 | &nbsp;&nbsp; 11243328 |
|  |  |  | &nbsp;&nbsp; 48706871 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chemicals | 2.2<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Air Liquide S.A. |  | 45864 | &nbsp;&nbsp; 8637914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ecolab, Inc. |  | 30576 | &nbsp;&nbsp; 8026812 |
|  |  |  | &nbsp;&nbsp; 16664726 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Support Services | 1.9<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brambles Ltd. |  | 255391 | &nbsp;&nbsp; 3913192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Compass Group PLC |  | 187602 | &nbsp;&nbsp; 5978039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recruit Holdings Co. Ltd. |  | 74648 | &nbsp;&nbsp; 4194589 |
|  |  |  | &nbsp;&nbsp; 14085820 |
| &nbsp;&nbsp;&nbsp;&nbsp; Construction Materials | 0.6<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sika A.G. - REG |  | 22961 | &nbsp;&nbsp; 4661669 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diversified Industrials | 1.3<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Siemens A.G. - REG |  | 36401 | &nbsp;&nbsp; 10195069 |
| &nbsp;&nbsp;&nbsp;&nbsp; E-Commerce Discretionary | 1.2<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MercadoLibre, Inc.<sup>(a)</sup> <br>|  | 4703 | &nbsp;&nbsp; 9473065 |

---

------

**TRILLIUM MUTUAL FUNDS**

**TRILLIUM ESG GLOBAL EQUITY FUND**

**SCHEDULE OF INVESTMENTS**

**December 31, 2025 (Unaudited)** 

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage**<br> **of Net**<br> **Assets**<br>| **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Electric Utilities | 0.8<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terna - Rete Elettrica Nazionale |  | 584195 | &nbsp;&nbsp; $6215078 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electrical Equipment | 3.5<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assa Abloy AB - Class B |  | 171921 | &nbsp;&nbsp; 6641455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prysmian S.p.A. |  | 70992 | &nbsp;&nbsp; 7081975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Schneider Electric S.E. |  | 20664 | &nbsp;&nbsp; 5704391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trane Technologies PLC |  | 19096 | &nbsp;&nbsp; 7432163 |
|  |  |  | &nbsp;&nbsp; 26859984 |
| &nbsp;&nbsp;&nbsp;&nbsp; Engineering & Construction | 0.6<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quanta Services, Inc. |  | 10205 | &nbsp;&nbsp; 4307122 |
| &nbsp;&nbsp;&nbsp;&nbsp; Entertainment Content | 1.1<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Netflix, Inc.<sup>(a)</sup> <br>|  | 91840 | &nbsp;&nbsp; 8610918 |
| &nbsp;&nbsp;&nbsp;&nbsp; Food | 2.9<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kerry Group PLC - Class A |  | 73696 | &nbsp;&nbsp; 6755389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McCormick & Co., Inc. (Non Voting) |  | 85008 | &nbsp;&nbsp; 5789895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nestle S.A. - REG |  | 93296 | &nbsp;&nbsp; 9260479 |
|  |  |  | &nbsp;&nbsp; 21805763 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gas & Water Utilities | 1.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Water Works Co., Inc. |  | 58967 | &nbsp;&nbsp; 7695194 |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Facilities & Services | 1.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Elevance Health, Inc. |  | 21841 | &nbsp;&nbsp; 7656363 |
| &nbsp;&nbsp;&nbsp;&nbsp; Home Construction | 0.5<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Daiwa House Industry Co. Ltd. |  | 118386 | &nbsp;&nbsp; 3932643 |
| &nbsp;&nbsp;&nbsp;&nbsp; Household Products | 3.7<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Haleon PLC |  | 1544837 | &nbsp;&nbsp; 7804698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; L'Oreal S.A. |  | 21841 | &nbsp;&nbsp; 9409722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unilever PLC |  | 170788 | &nbsp;&nbsp; 11179551 |
|  |  |  | &nbsp;&nbsp; 28393971 |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrial Support Services | 0.8<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Rentals, Inc. |  | 7384 | &nbsp;&nbsp; 5976019 |
| &nbsp;&nbsp;&nbsp;&nbsp; Institutional Financial Services | 2.7<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of New York Mellon (The) Corp. |  | 87619 | &nbsp;&nbsp; 10171690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intercontinental Exchange, Inc. |  | 63786 | &nbsp;&nbsp; 10330780 |
|  |  |  | &nbsp;&nbsp; 20502470 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insurance | 3.5<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AIA Group Ltd. |  | 585598 | &nbsp;&nbsp; 6011960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allianz S.E. - REG |  | 23017 | &nbsp;&nbsp; 10642539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aviva PLC |  | 379683 | &nbsp;&nbsp; 3502716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Travelers (The) Cos., Inc. |  | 22345 | &nbsp;&nbsp; 6481391 |
|  |  |  | &nbsp;&nbsp; 26638606 |
| &nbsp;&nbsp;&nbsp;&nbsp; Internet Media & Services | 7.2<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. - Class A |  | 149077 | &nbsp;&nbsp; 46661101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spotify Technology S.A.<sup>(a)</sup> <br>|  | 13607 | &nbsp;&nbsp; 7901721 |
|  |  |  | &nbsp;&nbsp; 54562822 |

---

------

**TRILLIUM MUTUAL FUNDS**

**TRILLIUM ESG GLOBAL EQUITY FUND**

**SCHEDULE OF INVESTMENTS**

**December 31, 2025 (Unaudited)** 

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage**<br> **of Net**<br> **Assets**<br>| **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Leisure Facilities & Services | 2.1<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chipotle Mexican Grill, Inc.<sup>(a)</sup> <br>|  | 130760 | &nbsp;&nbsp; $4838120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marriott International, Inc. - Class A |  | 23632 | &nbsp;&nbsp; 7331592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Starbucks Corp. |  | 47936 | &nbsp;&nbsp; 4036690 |
|  |  |  | &nbsp;&nbsp; 16206402 |
| &nbsp;&nbsp;&nbsp;&nbsp; Machinery | 2.1<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Atlas Copco AB - Class A |  | 307441 | &nbsp;&nbsp; 5473243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deere & Co. |  | 12599 | &nbsp;&nbsp; 5865716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kurita Water Industries Ltd. |  | 121578 | &nbsp;&nbsp; 4940040 |
|  |  |  | &nbsp;&nbsp; 16278999 |
| &nbsp;&nbsp;&nbsp;&nbsp; Medical Equipment & Devices | 2.1<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cochlear Ltd. |  | 28561 | &nbsp;&nbsp; 4968228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hoya Corp. |  | 39201 | &nbsp;&nbsp; 5945600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stryker Corp. |  | 13384 | &nbsp;&nbsp; 4704074 |
|  |  |  | &nbsp;&nbsp; 15617902 |
| &nbsp;&nbsp;&nbsp;&nbsp; Real Estate Investment Trusts | 1.6<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Tower Corp. |  | 23241 | &nbsp;&nbsp; 4080422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prologis, Inc. |  | 63450 | &nbsp;&nbsp; 8100027 |
|  |  |  | &nbsp;&nbsp; 12180449 |
| &nbsp;&nbsp;&nbsp;&nbsp; Real Estate Services | 0.9<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jones Lang LaSalle, Inc.<sup>(a)</sup> <br>|  | 20608 | &nbsp;&nbsp; 6933974 |
| &nbsp;&nbsp;&nbsp;&nbsp; Renewable Energy | 1.4<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Solar, Inc.<sup>(a)</sup> <br>|  | 40264 | &nbsp;&nbsp; 10518165 |
| &nbsp;&nbsp;&nbsp;&nbsp; Retail - Consumer Staples | 1.3<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Costco Wholesale Corp. |  | 3472 | &nbsp;&nbsp; 2994044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Target Corp. |  | 66696 | &nbsp;&nbsp; 6519534 |
|  |  |  | &nbsp;&nbsp; 9513578 |
| &nbsp;&nbsp;&nbsp;&nbsp; Retail - Discretionary | 4.3<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ferguson Enterprises, Inc. |  | 30632 | &nbsp;&nbsp; 6858337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Home Depot (The), Inc. |  | 16390 | &nbsp;&nbsp; 5639799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industria de Diseno Textil S.A. |  | 107913 | &nbsp;&nbsp; 7145003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lululemon Athletica, Inc.<sup>(a)</sup> <br>|  | 19600 | &nbsp;&nbsp; 4073076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TJX (The) Cos., Inc. |  | 59463 | &nbsp;&nbsp; 9134112 |
|  |  |  | &nbsp;&nbsp; 32850327 |
| &nbsp;&nbsp;&nbsp;&nbsp; Semiconductors | 11.1<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Applied Materials, Inc. |  | 29904 | &nbsp;&nbsp; 7685029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ASML Holding N.V. |  | 8400 | &nbsp;&nbsp; 9095767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Infineon Technologies A.G. |  | 299451 | &nbsp;&nbsp; 13065337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NVIDIA Corp. |  | 227366 | &nbsp;&nbsp; 42403759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd. - ADR |  | 39751 | &nbsp;&nbsp; 12079931 |
|  |  |  | &nbsp;&nbsp; 84329823 |
| &nbsp;&nbsp;&nbsp;&nbsp; Software | 10.8<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cadence Design Systems, Inc.<sup>(a)</sup> <br>|  | 27160 | &nbsp;&nbsp; 8489673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intuit, Inc. |  | 12428 | &nbsp;&nbsp; 8232556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Microsoft Corp. |  | 84505 | &nbsp;&nbsp; 40868308 |

---

------

**TRILLIUM MUTUAL FUNDS**

**TRILLIUM ESG GLOBAL EQUITY FUND**

**SCHEDULE OF INVESTMENTS**

**December 31, 2025 (Unaudited)** 

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage**<br> **of Net**<br> **Assets**<br>| **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Palo Alto Networks, Inc.<sup>(a)</sup> <br>|  | 46466 | &nbsp;&nbsp; $8559037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SAP S.E. |  | 18761 | &nbsp;&nbsp; 4558333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ServiceNow, Inc.<sup>(a)</sup> <br>|  | 75015 | &nbsp;&nbsp; 11491548 |
|  |  |  | &nbsp;&nbsp; 82199455 |
| &nbsp;&nbsp;&nbsp;&nbsp; Specialty Finance | 2.3<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Visa, Inc. - Class A |  | 49224 | &nbsp;&nbsp; 17263349 |
| &nbsp;&nbsp;&nbsp;&nbsp; Technology Hardware | 4.1<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Apple, Inc. |  | 95089 | &nbsp;&nbsp; 25850896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cisco Systems, Inc. |  | 65800 | &nbsp;&nbsp; 5068574 |
|  |  |  | &nbsp;&nbsp; 30919470 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transportation & Logistics | 0.6<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Union Pacific Corp. |  | 21280 | &nbsp;&nbsp; 4922490 |
| TOTAL COMMON STOCKS (Cost $513,696,897) |  |  | &nbsp;&nbsp; 749795158 |
| SHORT-TERM INVESTMENTS | 1.1<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northern Institutional Treasury Portfolio (Premier Class), 3.63%<sup>(b)</sup> <br>|  | 8248223 | &nbsp;&nbsp; 8248223 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $8,248,223) |  |  | &nbsp;&nbsp; 8248223 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS<br> (Cost $521,945,120)<br>| 99.6<br> %<br>|  | &nbsp;&nbsp; 758043381 |
| NET OTHER ASSETS (LIABILITIES) | 0.4<br> %<br>|  | &nbsp;&nbsp; 2830741 |
| NET ASSETS | 100.0<br> %<br>|  | &nbsp;&nbsp; $760874122 |

---

&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 December 31, 2025 is disclosed.

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

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

At December 31, 2025 the Fund's investments were concentrated in the following countries:

---

| | |
|:---|:---|
| **Country Allocation** | **Percentage**<br> **of Net Assets**<br>|
| United States  | 62.4% |
| United Kingdom  | &nbsp;&nbsp; 5.3  |
| Germany  | &nbsp;&nbsp; 5.0  |
| France  | &nbsp;&nbsp; 4.0  |
| Japan  | &nbsp;&nbsp; 3.6  |
| Switzerland  | &nbsp;&nbsp; 2.6  |
| All other countries less than 2%  | 16.7  |
| Total | &nbsp;&nbsp; 99.6% |

---

------

**TRILLIUM MUTUAL FUNDS**

**TRILLIUM ESG SMALL/MID CAP FUND**

**SCHEDULE OF INVESTMENTS**

**December 31, 2025 (Unaudited)** 

------

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

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage**<br> **of Net**<br> **Assets**<br>| **Shares** | **Value** |
| COMMON STOCKS | 98.5<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aerospace & Defense | 1.5<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hexcel Corp. |  | 6139 | &nbsp;&nbsp; $453672 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apparel & Textile Products | 1.7<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deckers Outdoor Corp.<sup>(a)</sup> <br>|  | 4950 | &nbsp;&nbsp; 513166 |
| &nbsp;&nbsp;&nbsp;&nbsp; Asset Management | 4.2<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LPL Financial Holdings, Inc. |  | 1313 | &nbsp;&nbsp; 468964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; StepStone Group, Inc. - Class A |  | 5794 | &nbsp;&nbsp; 371801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stifel Financial Corp. |  | 3601 | &nbsp;&nbsp; 450917 |
|  |  |  | &nbsp;&nbsp; 1291682 |
| &nbsp;&nbsp;&nbsp;&nbsp; Banking | 7.1<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; East West Bancorp, Inc. |  | 8579 | &nbsp;&nbsp; 964194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fifth Third Bancorp |  | 8798 | &nbsp;&nbsp; 411834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Webster Financial Corp. |  | 12927 | &nbsp;&nbsp; 813626 |
|  |  |  | &nbsp;&nbsp; 2189654 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chemicals | 4.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Avery Dennison Corp. |  | 1600 | &nbsp;&nbsp; 291008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ingevity Corp.<sup>(a)</sup> <br>|  | 7746 | &nbsp;&nbsp; 458408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rogers Corp.<sup>(a)</sup> <br>|  | 2351 | &nbsp;&nbsp; 215281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sensient Technologies Corp. |  | 2925 | &nbsp;&nbsp; 274804 |
|  |  |  | &nbsp;&nbsp; 1239501 |
| &nbsp;&nbsp;&nbsp;&nbsp; Construction Materials | 0.7<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trex Co., Inc.<sup>(a)</sup> <br>|  | 6516 | &nbsp;&nbsp; 228581 |
| &nbsp;&nbsp;&nbsp;&nbsp; Consumer Services | 1.4<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bright Horizons Family Solutions, Inc.<sup>(a)</sup> <br>|  | 4356 | &nbsp;&nbsp; 441698 |
| &nbsp;&nbsp;&nbsp;&nbsp; Containers & Packaging | 1.1<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AptarGroup, Inc. |  | 2747 | &nbsp;&nbsp; 335024 |
| &nbsp;&nbsp;&nbsp;&nbsp; E-Commerce Discretionary | 0.9<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Etsy, Inc.<sup>(a)</sup> <br>|  | 5132 | &nbsp;&nbsp; 284518 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electric Utilities | 2.4<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CMS Energy Corp. |  | 4401 | &nbsp;&nbsp; 307762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ormat Technologies, Inc. |  | 3749 | &nbsp;&nbsp; 414152 |
|  |  |  | &nbsp;&nbsp; 721914 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electrical Equipment | 5.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allegion PLC |  | 2074 | &nbsp;&nbsp; 330222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Badger Meter, Inc. |  | 1318 | &nbsp;&nbsp; 229873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; nVent Electric PLC |  | 3902 | &nbsp;&nbsp; 397887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trimble, Inc.<sup>(a)</sup> <br>|  | 7400 | &nbsp;&nbsp; 579790 |
|  |  |  | &nbsp;&nbsp; 1537772 |
| &nbsp;&nbsp;&nbsp;&nbsp; Engineering & Construction | 2.9<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MYR Group, Inc.<sup>(a)</sup> <br>|  | 2662 | &nbsp;&nbsp; 581647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tetra Tech, Inc. |  | 9508 | &nbsp;&nbsp; 318898 |
|  |  |  | &nbsp;&nbsp; 900545 |
| &nbsp;&nbsp;&nbsp;&nbsp; Food | 2.9<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Darling Ingredients, Inc.<sup>(a)</sup> <br>|  | 4875 | &nbsp;&nbsp; 175500 |

---

------

**TRILLIUM MUTUAL FUNDS**

**TRILLIUM ESG SMALL/MID CAP FUND**

**SCHEDULE OF INVESTMENTS**

**December 31, 2025 (Unaudited)** 

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage**<br> **of Net**<br> **Assets**<br>| **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lamb Weston Holdings, Inc. |  | 6189 | &nbsp;&nbsp; $259257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McCormick & Co., Inc. (Non Voting) |  | 6713 | &nbsp;&nbsp; 457223 |
|  |  |  | &nbsp;&nbsp; 891980 |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Facilities & Services | 4.3<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Encompass Health Corp. |  | 4816 | &nbsp;&nbsp; 511170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ICON PLC<sup>(a)</sup> <br>|  | 2559 | &nbsp;&nbsp; 466301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quest Diagnostics, Inc. |  | 1882 | &nbsp;&nbsp; 326584 |
|  |  |  | &nbsp;&nbsp; 1304055 |
| &nbsp;&nbsp;&nbsp;&nbsp; Household Products | 0.7<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; elf Beauty, Inc.<sup>(a)</sup> <br>|  | 2979 | &nbsp;&nbsp; 226523 |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrial Intermediate Products | 2.3<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Valmont Industries, Inc. |  | 1715 | &nbsp;&nbsp; 689979 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insurance | 4.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hanover Insurance Group (The), Inc. |  | 2608 | &nbsp;&nbsp; 476664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Palomar Holdings, Inc.<sup>(a)</sup> <br>|  | 2089 | &nbsp;&nbsp; 281514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance Group of America, Inc. |  | 2307 | &nbsp;&nbsp; 469382 |
|  |  |  | &nbsp;&nbsp; 1227560 |
| &nbsp;&nbsp;&nbsp;&nbsp; Leisure Facilities & Services | 3.9<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cava Group, Inc.<sup>(a)</sup> <br>|  | 3384 | &nbsp;&nbsp; 198607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Domino's Pizza, Inc. |  | 1241 | &nbsp;&nbsp; 517274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; InterContinental Hotels Group PLC - ADR |  | 3369 | &nbsp;&nbsp; 474456 |
|  |  |  | &nbsp;&nbsp; 1190337 |
| &nbsp;&nbsp;&nbsp;&nbsp; Machinery | 4.6<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lincoln Electric Holdings, Inc. |  | 3013 | &nbsp;&nbsp; 722035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Middleby (The) Corp.<sup>(a)</sup> <br>|  | 1689 | &nbsp;&nbsp; 251104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSA Safety, Inc. |  | 2781 | &nbsp;&nbsp; 445349 |
|  |  |  | &nbsp;&nbsp; 1418488 |
| &nbsp;&nbsp;&nbsp;&nbsp; Medical Equipment & Devices | 8.3<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exact Sciences Corp.<sup>(a)</sup> <br>|  | 3650 | &nbsp;&nbsp; 370694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Merit Medical Systems, Inc.<sup>(a)</sup> <br>|  | 7360 | &nbsp;&nbsp; 648710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Omnicell, Inc.<sup>(a)</sup> <br>|  | 9722 | &nbsp;&nbsp; 440407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Penumbra, Inc.<sup>(a)</sup> <br>|  | 1452 | &nbsp;&nbsp; 451441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TransMedics Group, Inc.<sup>(a)</sup> <br>|  | 2411 | &nbsp;&nbsp; 293298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Waters Corp.<sup>(a)</sup> <br>|  | 885 | &nbsp;&nbsp; 336150 |
|  |  |  | &nbsp;&nbsp; 2540700 |
| &nbsp;&nbsp;&nbsp;&nbsp; Publishing & Broadcasting | 3.3<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liberty Media Corp.-Liberty Formula One - Class C<sup>(a)</sup> <br>|  | 2910 | &nbsp;&nbsp; 286664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York Times (The) Co. - Class A |  | 10461 | &nbsp;&nbsp; 726203 |
|  |  |  | &nbsp;&nbsp; 1012867 |
| &nbsp;&nbsp;&nbsp;&nbsp; Real Estate Investment Trusts | 4.4<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Camden Property Trust |  | 1971 | &nbsp;&nbsp; 216968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CubeSmart |  | 6199 | &nbsp;&nbsp; 223474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EastGroup Properties, Inc. |  | 2327 | &nbsp;&nbsp; 414532 |

---

------

**TRILLIUM MUTUAL FUNDS**

**TRILLIUM ESG SMALL/MID CAP FUND**

**SCHEDULE OF INVESTMENTS**

**December 31, 2025 (Unaudited)** 

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage**<br> **of Net**<br> **Assets**<br>| **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal Realty Investment Trust |  | 2657 | &nbsp;&nbsp; $267825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lamar Advertising Co. - Class A |  | 1798 | &nbsp;&nbsp; 227591 |
|  |  |  | &nbsp;&nbsp; 1350390 |
| &nbsp;&nbsp;&nbsp;&nbsp; Real Estate Services | 2.3<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jones Lang LaSalle, Inc.<sup>(a)</sup> <br>|  | 2060 | &nbsp;&nbsp; 693128 |
| &nbsp;&nbsp;&nbsp;&nbsp; Renewable Energy | 2.9<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Solar, Inc.<sup>(a)</sup> <br>|  | 2272 | &nbsp;&nbsp; 593515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nextpower, Inc. - Class A<sup>(a)</sup> <br>|  | 3295 | &nbsp;&nbsp; 287027 |
|  |  |  | &nbsp;&nbsp; 880542 |
| &nbsp;&nbsp;&nbsp;&nbsp; Retail - Consumer Staples | 1.6<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BJ's Wholesale Club Holdings, Inc.<sup>(a)</sup> <br>|  | 5282 | &nbsp;&nbsp; 475538 |
| &nbsp;&nbsp;&nbsp;&nbsp; Retail - Discretionary | 4.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Burlington Stores, Inc.<sup>(a)</sup> <br>|  | 2149 | &nbsp;&nbsp; 620739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freshpet, Inc.<sup>(a)</sup> <br>|  | 3211 | &nbsp;&nbsp; 195646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ulta Beauty, Inc.<sup>(a)</sup> <br>|  | 692 | &nbsp;&nbsp; 418667 |
|  |  |  | &nbsp;&nbsp; 1235052 |
| &nbsp;&nbsp;&nbsp;&nbsp; Semiconductors | 3.3<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allegro MicroSystems, Inc.<sup>(a)</sup> <br>|  | 11692 | &nbsp;&nbsp; 308435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SiTime Corp.<sup>(a)</sup> <br>|  | 2030 | &nbsp;&nbsp; 716976 |
|  |  |  | &nbsp;&nbsp; 1025411 |
| &nbsp;&nbsp;&nbsp;&nbsp; Software | 7.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CyberArk Software Ltd.<sup>(a)</sup> <br>|  | 1522 | &nbsp;&nbsp; 678903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dynatrace, Inc.<sup>(a)</sup> <br>|  | 11747 | &nbsp;&nbsp; 509115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paylocity Holding Corp.<sup>(a)</sup> <br>|  | 3067 | &nbsp;&nbsp; 467718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PTC, Inc.<sup>(a)</sup> <br>|  | 1477 | &nbsp;&nbsp; 257308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Varonis Systems, Inc.<sup>(a)</sup> <br>|  | 6831 | &nbsp;&nbsp; 224057 |
|  |  |  | &nbsp;&nbsp; 2137101 |
| &nbsp;&nbsp;&nbsp;&nbsp; Specialty Finance | 2.7<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ally Financial, Inc. |  | 8723 | &nbsp;&nbsp; 395065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jack Henry & Associates, Inc. |  | 2396 | &nbsp;&nbsp; 437222 |
|  |  |  | &nbsp;&nbsp; 832287 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transportation & Logistics | 1.9<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JB Hunt Transport Services, Inc. |  | 3048 | &nbsp;&nbsp; 592348 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transportation Equipment | 1.2<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westinghouse Air Brake Technologies Corp. |  | 1733 | &nbsp;&nbsp; 369909 |
| TOTAL COMMON STOCKS (Cost $25,568,335) |  |  | &nbsp;&nbsp; 30231922 |
| SHORT-TERM INVESTMENTS | 1.5<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northern Institutional Treasury Portfolio (Premier Class), 3.63%<sup>(b)</sup> <br>|  | 461205 | &nbsp;&nbsp; 461205 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $461,205) |  |  | &nbsp;&nbsp; 461205 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS<br> (Cost $26,029,540)<br>| 100.0<br> %<br>|  | &nbsp;&nbsp; 30693127 |
| NET OTHER ASSETS (LIABILITIES) | (0.0 %)<sup>(c)</sup><br>|  | &nbsp;&nbsp; (8800)<br>|
| NET ASSETS | 100.0<br> %<br>|  | &nbsp;&nbsp; $30684327 |

---

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

------

**TRILLIUM MUTUAL FUNDS**

**TRILLIUM ESG SMALL/MID CAP FUND**

**SCHEDULE OF INVESTMENTS**

**December 31, 2025 (Unaudited)** 

------

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

---

| |
|:---|
| <sup>(a)</sup>Non-income producing security. |
| <sup>(b)</sup>7-day current yield as of December 31, 2025 is disclosed. |
| <sup>(c)</sup>Amount rounds to less than 0.05%. |

---

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

Abbreviations: <br> ADR – American Depositary Receipt

At December 31, 2025 the industry sectors (excluding short-term investments) for the Trillium ESG Small/Mid Cap Fund were:

---

| | |
|:---|:---|
| **Sector Allocation** | **% of Net Assets** |
| Industrials  | 20.0% |
| Financials  | 18.0  |
| Information Technology  | 14.0  |
| Health Care  | 12.6  |
| Consumer Discretionary  | 11.3  |
| Real Estate  | &nbsp;&nbsp; 6.7  |
| Consumer Staples  | &nbsp;&nbsp; 5.8  |
| Materials  | &nbsp;&nbsp; 4.4  |
| Communication Services  | &nbsp;&nbsp; 3.3  |
| Utilities  | &nbsp;&nbsp; 2.4  |
| Total | &nbsp;&nbsp; 98.5% |

---

------

##External\*Document\*Content##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:** Trillium ESG Global Equity Fund

- **b. EDGAR series identifier (if any):** S000081438

- **c. LEI of Series:** 5493000KWXEYLGLZY347

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**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:** $761819811.58

**Total Liabilities:** $793752.64

**Net Assets:** $761026058.94

**Cash Not Reported:** $600590.41

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000244332 | 1.43%                | 0.76%                | 0.82%                |
| Class ID C000244333 | 1.41%                | 0.73%                | 0.80%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $16029819.87             | $-4284932.18                               |
| Month 2  | $8280673.38              | $-2648151.17                               |
| Month 3  | $29913694.42             | $-23715854.59                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AstraZeneca PLC                              | AstraZeneca PLC ORD USD0.25                                           | CUSIP: G0593M107<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |     59977 | NS      | $11148664.21  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Nestle SA                                    | Nestle SA CHF0.10 (REGD)                                              | CUSIP: H57312649<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |     93296 | NS      | $9260478.97   | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| American Tower Corporation                   | American Tower Corporation COM USD0.01                                | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     23241 | NS      | $4080422.37   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies PLC                       | Trane Technologies PLC COM USD1                                       | CUSIP: G8994E103<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |     19096 | NS      | $7432163.20   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Institutional Funds                 | Northern Institutional Funds TREAS PRT PRMR                           | CUSIP: 665279873<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        |   8248223 | NS      | $8248223.07   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems, Inc.                 | Cadence Design Systems, Inc. COM USD0.01                              | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |     27160 | NS      | $8489672.80   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc.                         | Gilead Sciences Inc. COM USD0.001                                     | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     55160 | NS      | $6770338.40   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                                   | Intuit Inc COM USD0.01                                                | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |     12428 | NS      | $8232555.76   | 1.08%             |  |  |  | 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        |    171699 | NS      | $6273881.46   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc                             | Merck & Co., Inc COM USD0.50                                          | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     72017 | NS      | $7580509.42   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Assa Abloy AB                                | Assa Abloy AB SER'B'NPV                                               | CUSIP: W0817X204<br>LEI: 549300YECS8HKCIMMB67 | Long             | EC               | CORP              | SE        |    171921 | NS      | $6641455.28   | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| AIA Group Ltd, Hong Kong                     | AIA Group Ltd, Hong Kong NPV                                          | CUSIP: Y002A1105<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |    585598 | NS      | $6011959.89   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Servicenow Inc                               | Servicenow Inc COM USD0.001                                           | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |     75015 | NS      | $11491547.85  | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| KBC Group NV                                 | KBC Group NV NPV                                                      | CUSIP: B5337G162<br>LEI: 213800X3Q9LSAKRUWY91 | Long             | EC               | CORP              | BE        |     68544 | NS      | $8961512.08   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Kerry Group PLC                              | Kerry Group PLC 'A'ORD EUR0.125                                       | CUSIP: G52416107<br>LEI: 635400TLVVBNXLFHWC59 | Long             | EC               | CORP              | IE        |     73696 | NS      | $6755388.79   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Schneider Electric SE                        | Schneider Electric SE EUR4.00                                         | CUSIP: F86921107<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |     20664 | NS      | $5704390.39   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| L'Oreal S.A.                                 | L'Oreal S.A. EUR0.20                                                  | CUSIP: F58149133<br>LEI: 529900JI1GG6F7RKVI53 | Long             | EC               | CORP              | FR        |     21841 | NS      | $9409722.36   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc                   | Chipotle Mexican Grill Inc COM USD0.01                                | CUSIP: 169656105<br>LEI: 529900REP5VGTPCP1J71 | Long             | EC               | CORP              | US        |    130760 | NS      | $4838120.00   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| TERNA - Rete Elettrica Nazionale S.p.A.      | TERNA - Rete Elettrica Nazionale S.p.A. ORD EUR0.22                   | CUSIP: T9471R100<br>LEI: 8156009E94ED54DE7C31 | Long             | EC               | CORP              | IT        |    584195 | NS      | $6215077.81   | 0.82%             |  |  |  | No            |                  2 | On Loan: No      |
| First Solar Inc                              | First Solar Inc COM STK USD0.001                                      | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |     40264 | NS      | $10518164.72  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding N.V.                            | ASML Holding N.V. EUR0.09                                             | CUSIP: N07059202<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |      8400 | NS      | $9095766.94   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| BYD Co Ltd.                                  | BYD Co Ltd. 'H'CNY1                                                   | CUSIP: Y1023R104<br>LEI: 5299005557VL7ULJ7A69 | Long             | EC               | CORP              | CN        |    445240 | NS      | $5454872.22   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Brambles Ltd.                                | Brambles Ltd. NPV                                                     | CUSIP: Q6634U106<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    255391 | NS      | $3913192.02   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Cochlear Ltd                                 | Cochlear Ltd ORD NPV                                                  | CUSIP: Q25953102<br>LEI: 5493001OLLWY8KV5UC08 | Long             | EC               | CORP              | AU        |     28561 | NS      | $4968227.64   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiwa House Industry Co Ltd.                 | Daiwa House Industry Co Ltd. NPV                                      | CUSIP: J11508124<br>LEI: 353800K9WXR9XRZJZI46 | Long             | EC               | CORP              | JP        |    118386 | NS      | $3932643.28   | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Travelers Companies, Inc.                    | Travelers Companies, Inc. COM NPV                                     | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |     22345 | NS      | $6481390.70   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Kurita Water Industries Ltd.                 | Kurita Water Industries Ltd. NPV                                      | CUSIP: J37221116<br>LEI: 52990086GS2ON69UMX34 | Long             | EC               | CORP              | JP        |    121578 | NS      | $4940040.35   | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Prysmian S.p.A.                              | Prysmian S.p.A. NPV                                                   | CUSIP: T7630L105<br>LEI: 529900X0H1IO3RS1A464 | Long             | EC               | CORP              | IT        |     70992 | NS      | $7081974.86   | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| Lululemon Athletica Inc.                     | Lululemon Athletica Inc. COM USD0.005                                 | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | US        |     19600 | NS      | $4073076.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Toyota Motor Corp.                           | Toyota Motor Corp. NPV                                                | CUSIP: J92676113<br>LEI: 5493006W3QUS5LMH6R84 | Long             | EC               | CORP              | JP        |    179242 | NS      | $3849597.89   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton SE          | LVMH Moet Hennessy Louis Vuitton SE EUR0.30                           | CUSIP: F58485115<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | FR        |      9980 | NS      | $7564880.74   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercadolibre Inc                             | Mercadolibre Inc COM USD0.001                                         | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |      4703 | NS      | $9473064.78   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Aviva PLC                                    | Aviva PLC ORD GBP0.328947368                                          | CUSIP: G0683Q158<br>LEI: YF0Y5B0IB8SM0ZFG9G81 | Long             | EC               | CORP              | GB        |    379683 | NS      | $3502716.46   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlas Copco AB                               | Atlas Copco AB SER'A'NPV                                              | CUSIP: W1R924252<br>LEI: 213800T8PC8Q4FYJZR07 | Long             | EC               | CORP              | SE        |    307441 | NS      | $5473242.46   | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Home Depot Inc.                              | Home Depot Inc. COM USD0.05                                           | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     16390 | NS      | $5639799.00   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                              | Microsoft Corp. COM USD0.00000625                                     | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     84505 | NS      | $40868308.10  | 5.37%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group Inc.            | PNC Financial Services Group Inc. COM USD5                            | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |     45305 | NS      | $9456512.65   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corporation                 | Costco Wholesale Corporation COM USD0.01                              | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      3472 | NS      | $2994044.48   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                                | Netflix, Inc. COM USD0.001                                            | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |     91840 | NS      | $8610918.40   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp.                              | Starbucks Corp. COM USD0.001                                          | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |     47936 | NS      | $4036690.56   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corporation                          | Stryker Corporation COM USD0.10                                       | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |     13384 | NS      | $4704074.48   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corporation                    | Union Pacific Corporation COM USD2.50                                 | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     21280 | NS      | $4922489.60   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Incorporated          | Vertex Pharmaceuticals Incorporated COM USD0.01                       | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |     24800 | NS      | $11243328.00  | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| The TJX Companies Inc.                       | The TJX Companies Inc. COM USD1                                       | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |     59463 | NS      | $9134111.43   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| American Water Works Company, Inc.           | American Water Works Company, Inc. COM USD0.01                        | CUSIP: 030420103<br>LEI: 549300DXHIJQMD5WFW18 | Long             | EC               | CORP              | US        |     58967 | NS      | $7695193.50   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Haleon PLC                                   | Haleon PLC ORD GBP0.01                                                | CUSIP: G4232K100<br>LEI: 549300PSB3WWEODCUP19 | Long             | EC               | CORP              | GB        |   1544837 | NS      | $7804697.50   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Novo Nordisk A/S                             | Novo Nordisk A/S SER'B'DKK0.1                                         | CUSIP: K72807140<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |    110042 | NS      | $5581162.85   | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Ferguson Enterprises Inc                     | Ferguson Enterprises Inc COMMON STOCK NEW                             | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               | CORP              | US        |     30632 | NS      | $6858336.91   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc.                                | Prologis Inc. COM USD0.01                                             | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     63450 | NS      | $8100027.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Allianz SE                                   | Allianz SE NPV(REGD)(VINKULIERT)                                      | CUSIP: D03080112<br>LEI: 529900K9B0N5BT694847 | Long             | EC               | CORP              | DE        |     23017 | NS      | $10642539.29  | 1.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Siemens AG                                   | Siemens AG NPV(REGD)                                                  | CUSIP: D69671218<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |     36401 | NS      | $10195069.20  | 1.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Infineon Technologies AG                     | Infineon Technologies AG ORD NPV (REGD)                               | CUSIP: D35415104<br>LEI: TSI2PJM6EPETEQ4X1U25 | Long             | EC               | CORP              | DE        |    299451 | NS      | $13065336.65  | 1.72%             |  |  |  | No            |                  2 | On Loan: No      |
| LPL Financial Holdings Inc.                  | LPL Financial Holdings Inc. COM USD0.001                              | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |     14885 | NS      | $5316475.45   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Group PLC                            | Compass Group PLC ORD GBP0.1105                                       | CUSIP: G23296208<br>LEI: 2138008M6MH9OZ6U2T68 | Long             | EC               | CORP              | GB        |    187602 | NS      | $5978039.30   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Ares Management Corporation                  | Ares Management Corporation COM USD0.01 CLASS A                       | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Long             | EC               | CORP              | US        |     37777 | NS      | $6105896.51   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| DnB Bank ASA                                 | DnB Bank ASA NOK12.50                                                 | CUSIP: R1R15X100<br>LEI: 549300GKFG0RYRRQ1414 | Long             | EC               | CORP              | NO        |    243153 | NS      | $6774431.83   | 0.89%             |  |  |  | No            |                  2 | On Loan: No      |
| Quanta Services, Inc.                        | Quanta Services, Inc. COM USD0.00001                                  | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |     10205 | NS      | $4307122.30   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Jones Lang LaSalle Incorporated              | Jones Lang LaSalle Incorporated COM USD0.01                           | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |     20608 | NS      | $6933973.76   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                                 | NVIDIA Corp. COM USD0.001                                             | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    227366 | NS      | $42403759.00  | 5.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                                   | Apple Inc. COM USD0.00001                                             | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     95089 | NS      | $25850895.54  | 3.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc.                       | Applied Materials Inc. COM USD0.01                                    | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |     29904 | NS      | $7685028.96   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Credicorp Ltd.                               | Credicorp Ltd. COM USD5                                               | CUSIP: G2519Y108<br>LEI: 529900UYAEYQCQ2BKB17 | Long             | EC               | CORP              | BM        |     22961 | NS      | $6589807.00   | 0.87%             |  |  |  | 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        |    468164 | NS      | $4340152.61   | 0.57%             |  |  |  | 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        |     39751 | NS      | $12079931.39  | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals, Inc.                         | United Rentals, Inc. COM USD0.01                                      | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |      7384 | NS      | $5976018.88   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                          | Cisco Systems, Inc. COM USD0.001                                      | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     65800 | NS      | $5068574.00   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott International, Inc.                 | Marriott International, Inc. COM USD0.01 CLASS A                      | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |     23632 | NS      | $7331591.68   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Corp.                                 | Target Corp. COM STK USD0.0833                                        | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |     66696 | NS      | $6519534.00   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Company                              | Deere & Company COM USD1                                              | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |     12599 | NS      | $5865716.43   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                        | Bank of America Corp. COM USD0.01                                     | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    140280 | NS      | $7715400.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecolab Inc.                                  | Ecolab Inc. COM USD1                                                  | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |     30576 | NS      | $8026811.52   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| McCormick & Company, Incorporated            | McCormick & Company, Incorporated COM NPV                             | CUSIP: 579780206<br>LEI: 549300JQQA6MQ4OJP259 | Long             | EC               | CORP              | US        |     85008 | NS      | $5789894.88   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc                | Intercontinental Exchange Inc COM USD0.01                             | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |     63786 | NS      | $10330780.56  | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology S.A.                      | Spotify Technology S.A. COM EUR0.000625                               | CUSIP: L8681T102<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | LU        |     13607 | NS      | $7901720.97   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SAP SE                                       | SAP SE ORD NPV                                                        | CUSIP: D66992104<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |     18761 | NS      | $4558333.13   | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| Industria De Diseno Textil SA                | Industria De Diseno Textil SA EUR0.03 (POST SUBD)                     | CUSIP: E6282J125<br>LEI: 549300TTCXZOGZM2EY83 | Long             | EC               | CORP              | ES        |    107913 | NS      | $7145003.38   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| HOYA Corp.                                   | HOYA Corp. NPV                                                        | CUSIP: J22848105<br>LEI: 353800X4VR3BHEUCJB42 | Long             | EC               | CORP              | JP        |     39201 | NS      | $5945599.91   | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Air Liquide S.A.(L')                         | Air Liquide S.A.(L') EUR5.50                                          | CUSIP: F01764103<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |     45864 | NS      | $8637914.42   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon Corp.            | The Bank of New York Mellon Corp. COM USD0.01                         | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |     87619 | NS      | $10171689.71  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Sika AG                                      | Sika AG CHF0.01 (REG)                                                 | CUSIP: H7631K273<br>LEI: 549300R3N69ECGYPU434 | Long             | EC               | CORP              | CH        |     22961 | NS      | $4661668.72   | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Unilever PLC                                 | Unilever PLC ORD GBP0.035                                             | CUSIP: G92087348<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |    170788 | NS      | $11179551.42  | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holding AG                             | Roche Holding AG GENUSSCHEINE NPV                                     | CUSIP: H69293217<br>LEI: 549300U41AUUVOAAOB37 | Long             | EP               | CORP              | CH        |     15456 | NS      | $6382868.60   | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Trust Group Inc.             | Sumitomo Mitsui Trust Group Inc. NPV                                  | CUSIP: J7772M102<br>LEI: 353800P843RLCDBLNT17 | Long             | EC               | CORP              | JP        |    154658 | NS      | $4713181.82   | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Visa Inc                                     | Visa Inc COM STK USD0.0001                                            | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     49224 | NS      | $17263349.04  | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc                       | Palo Alto Networks Inc COM USD0.0001                                  | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |     46466 | NS      | $8559037.20   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Recruit Holdings Co Ltd.                     | Recruit Holdings Co Ltd. NPV                                          | CUSIP: J6433A101<br>LEI: 353800R2LRSMVVC4I806 | Long             | EC               | CORP              | JP        |     74648 | NS      | $4194589.18   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Elevance Health Inc.                         | Elevance Health Inc. COM USD0.01                                      | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |     21841 | NS      | $7656362.55   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                                | Alphabet Inc. CAP STK USD0.001 CL A                                   | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    149077 | NS      | $46661101.00  | 6.13%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-23

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

**Signature:** John Stanziani

**Name of Signer:** John Stanziani

**Title:** Treasurer