# EDGAR Filing Document

**Accession Number:** 0001502745
**File Stem:** 0001752724-25-182759
**Filing Date:** 2025-7
**Character Count:** 27264
**Document Hash:** 692551ae0154073013cf49d466cd2bab
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-182759.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0001752724-25-182759

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250729

**DATE AS OF CHANGE**: 20250729

**PERIOD START**: 20251130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Copeland Trust
- **CENTRAL INDEX KEY:** 0001502745

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22483
- **FILM NUMBER:** 251162975

**BUSINESS ADDRESS:**
- **STREET 1:** 1400 PEOPLES PLAZA
- **STREET 2:** SUITE 104
- **CITY:** NEWARK
- **STATE:** DE
- **ZIP:** 19702
- **BUSINESS PHONE:** 617-399-6935

**MAIL ADDRESS:**
- **STREET 1:** 1400 PEOPLES PLAZA
- **STREET 2:** SUITE 104
- **CITY:** NEWARK
- **STATE:** DE
- **ZIP:** 19702

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Edgartown Trust
- **DATE OF NAME CHANGE:** 20101004

## Series and Classes Contracts Data

### COPELAND INTERNATIONAL SMALL CAP FUND (Series ID: S000074827)

| Class ID   | Class Name                                           | Ticker Symbol   |
|:---|:---|:---|
| C000233044 | COPELAND INTERNATIONAL SMALL CAP FUND Class A Shares |  |
| C000233045 | COPELAND INTERNATIONAL SMALL CAP FUND Class I Shares |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Copeland Trust

- **b. Investment Company Act file number:** 811-22483

- **c. CIK number of Registrant:** 0001502745

- **d. LEI of Registrant:** 5493005MVJ95H6N82870

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

  - **Street Address 1:** 1400 PEOPLES PLAZA

  - **City:** NEWARK

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19702

  - **Telephone number:** 617-399-6935

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

- **a. Name of Series:** Copeland International Small Cap Fund

- **b. EDGAR series identifier (if any):** S000074827

- **c. LEI of Series:** 549300NF6EWQK2SMZN38

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

- **a. Date of fiscal year-end:** 2025-11-30

- **b. Date as of which information is reported:** 2025-05-31

**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:** $832872.16

**Total Liabilities:** $176007.67

**Net Assets:** $656864.49

**Cash Not Reported:** $187.30

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000233045 | 1.30%                | 4.12%                | 6.06%                |
| Class ID C000233044 | 1.31%                | 4.13%                | 5.95%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1110.01                 | $3727.54                                   |
| Month 2  | $-8159.62                | $31519.22                                  |
| Month 3  | $2955.56                 | $31092.22                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Loomis AB                                         | LOOMIS AB                 | CUSIP: W5S50Y116<br>LEI: 213800NS2XXVRYS7WP40 | Long             | EC               | CORP              | SE        |       247 | NS      | $9556.76      | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Ventia Services Group Ltd.                        | VENTIA SERVICES           | CUSIP: Q9394Q109<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |      4786 | NS      | $14586.48     | 2.22%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Technip Energies N V                              | TECHNIP ENERGIES          | CUSIP: N8486R101<br>LEI: 724500FLODI49NSCIP70 | Long             | EC               | CORP              | NL        |       376 | NS      | $14230.56     | 2.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Internet Initiative Japan Inc.                    | INTERNET INITIAT          | CUSIP: J24210106<br>LEI: 529900EOCJNAPUHDFR78 | Long             | EC               | CORP              | JP        |       548 | NS      | $10566.48     | 1.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Misumi Group Inc.                                 | MISUMI GROUP INC          | CUSIP: J43293109<br>LEI: 353800SJWGE5BEK2V032 | Long             | EC               | CORP              | JP        |       459 | NS      | $6054.85      | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| Santen Pharmaceutical Co Ltd.                     | SANTEN PHARM              | CUSIP: J68467109<br>LEI: 529900TPT3I7C17MIM03 | Long             | EC               | CORP              | JP        |       662 | NS      | $7365.04      | 1.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Steadfast Group Ltd.                              | STEADFAST GROUP           | CUSIP: Q8744R106<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |      2928 | NS      | $10882.30     | 1.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Addtech AB                                        | ADDTECH AB-B SH           | CUSIP: W4260L147<br>LEI: 549300QZ5U2IDRHPWL60 | Long             | EC               | CORP              | SE        |       265 | NS      | $9108.63      | 1.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Gildan Activewear Inc.                            | GILDAN ACTIVEWEA          | CUSIP: 375916103<br>LEI: 549300SB3IBI34M00Z45 | Long             | EC               | CORP              | CA        |       171 | NS      | $7961.14      | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Sweco AB (publ)                                   | SWECO AB-B                | CUSIP: W31065225<br>LEI: 549300Q4Y55VICYV6U90 | Long             | EC               | CORP              | SE        |       509 | NS      | $8845.34      | 1.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Granite Real Estate Investment Trust              | GRANITE REAL EST          | CUSIP: 387437205<br>LEI: 549300U7HUKRB4S4KZ73 | Long             | EC               | CORP              | CA        |       139 | NS      | $7119.48      | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Coats Group PLC                                   | Coats Group PLC           | CUSIP: G22429115<br>LEI: 2138003SPYWGAITNFY17 | Long             | EC               | CORP              | GB        |      6462 | NS      | $6870.49      | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Wihlborgs Fastigheter AB                          | WIHLBORGS FASTIG          | CUSIP: W9899F163<br>LEI: 549300RC1YDJPITF8X06 | Long             | EC               | CORP              | SE        |       809 | NS      | $8134.95      | 1.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Maruwa Co Ltd                                     | MARUWA CO LTD             | CUSIP: J40573107<br>LEI: 3538009BXGIG8PFXNI29 | Long             | EC               | CORP              | JP        |        53 | NS      | $12839.14     | 1.95%             |  |  |  | No            |                  2 | On Loan: No      |
| Recordati Industria Chimica e Farmaceutica S.p.A. | Recordati SpA             | CUSIP: T78458139<br>LEI: 815600FBF92FD3531704 | Long             | EC               | CORP              | IT        |       208 | NS      | $12480.98     | 1.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Nexans SA                                         | NEXANS SA                 | CUSIP: F65277109<br>LEI: 96950015FU78G84UIV14 | Long             | EC               | CORP              | FR        |        50 | NS      | $5750.75      | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Lottomatica Group SpA                             | LOTTOMATICA GROU          | CUSIP: T64384109<br>LEI: 549300R72LKEGT4EX026 | Long             | EC               | CORP              | IT        |       526 | NS      | $13838.78     | 2.11%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Bravida Holding AB                                | BRAVIDA HOLDING AB        | CUSIP: W2R16Z106<br>LEI: 549300H88IJGPNNL3T61 | Long             | EC               | CORP              | SE        |       832 | NS      | $7714.91      | 1.17%             |  |  |  | Yes           |                  2 | On Loan: No      |
| NSD Co Ltd                                        | NSD CO LTD                | CUSIP: J56107105<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       348 | NS      | $8596.00      | 1.31%             |  |  |  | No            |                  2 | On Loan: No      |
| SOL S.p.A                                         | SOL SPA                   | CUSIP: T8711D103<br>LEI: 81560096A9AEBBBD4B25 | Long             | EC               | CORP              | IT        |       187 | NS      | $9722.81      | 1.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Rohto Pharmaceutical Co Ltd                       | ROHTO PHARM               | CUSIP: J65371106<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       446 | NS      | $6285.76      | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| Opap SA                                           | OPAP SA                   | CUSIP: X3232T104<br>LEI: 213800M4NRGFJCI34834 | Long             | EC               | CORP              | GR        |       729 | NS      | $15674.07     | 2.39%             |  |  |  | No            |                  2 | On Loan: No      |
| JCU Corp.                                         | JCU CORP                  | CUSIP: J2810V107<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       384 | NS      | $8501.31      | 1.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Charter Hall Group                                | CHARTER HALL GROUP        | CUSIP: Q2308A138<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |       722 | NS      | $8463.66      | 1.29%             |  |  |  | No            |                  2 | On Loan: No      |
| AJ Bell PLC                                       | AJ BELL PLC               | CUSIP: G01457103<br>LEI: 213800VNKA7DPWXWJJ36 | Long             | EC               | CORP              | GB        |       998 | NS      | $6602.45      | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Zeon Corp.                                        | ZEON CORP                 | CUSIP: J9886P104<br>LEI: 529900UEFURDYZ4F4U10 | Long             | EC               | CORP              | JP        |       632 | NS      | $6357.62      | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Asics Corp                                        | ASICS CORP                | CUSIP: J03234150<br>LEI: 3538002LJMRZ83SU0B85 | Long             | EC               | CORP              | JP        |       437 | NS      | $10533.35     | 1.60%             |  |  |  | No            |                  2 | On Loan: No      |
| Breedon Group PLC                                 | BREEDON GROUP PL          | CUSIP: G131AN104<br>LEI: 213800DQGNQE3X76WS92 | Long             | EC               | CORP              | GB        |      1509 | NS      | $9264.32      | 1.41%             |  |  |  | No            |                  2 | On Loan: No      |
| OR Royalties Inc.                                 | OR ROYALTIES INC          | CUSIP: 68390D106<br>LEI: 549300TJZTXZMPQ6K004 | Long             | EC               | CORP              | CA        |       398 | NS      | $10169.44     | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Gas Co Ltd                                 | NIPPON GAS                | CUSIP: J50151117<br>LEI: 549300N3DC5V2XON9C60 | Long             | EC               | CORP              | JP        |       465 | NS      | $8318.53      | 1.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Sopra Steria Group SA                             | Sopra Steria Group        | CUSIP: F20906115<br>LEI: 96950020QIOHAAK9V551 | Long             | EC               | CORP              | FR        |        31 | NS      | $6683.05      | 1.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Viscofan SA                                       | VISCOFAN                  | CUSIP: E97579192<br>LEI: 95980020140005684765 | Long             | EC               | CORP              | ES        |        96 | NS      | $6911.00      | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Breville Group Ltd.                               | BREVILLE GROUP L          | CUSIP: Q1758G108<br>LEI: 529900MM4WH0KSB3KW37 | Long             | EC               | CORP              | AU        |       345 | NS      | $6496.95      | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| Euronext N.V.                                     | EURONEXT NV               | CUSIP: N3113K397<br>LEI: 724500QJ4QSZ3H9QU415 | Long             | EC               | CORP              | NL        |        51 | NS      | $8311.07      | 1.27%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Bytes Technology Group PLC                        | BYTES TECHNOLOGY          | CUSIP: G1824W104<br>LEI: 213800LA4DZLFBAC9O33 | Long             | EC               | CORP              | GB        |      1320 | NS      | $9392.76      | 1.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Brookfield Infrastructure Corporation             | BROOKFIELD INFRA          | CUSIP: 11276H106<br>LEI: 254900YTMKBFJAKUBO55 | Long             | EC               | CORP              | CA        |       222 | NS      | $8790.85      | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Toromont Industries Ltd.                          | TOROMONT INDS             | CUSIP: 891102105<br>LEI: 5493008W5EPRSLQ0B737 | Long             | EC               | CORP              | CA        |        66 | NS      | $5722.76      | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaztransport Et Technigaz SA                      | GAZTRANSPORT ET TECHNIGA  | CUSIP: F42674113<br>LEI: 969500BVOHVZUUFWDT54 | Long             | EC               | CORP              | FR        |        54 | NS      | $10033.69     | 1.53%             |  |  |  | No            |                  2 | On Loan: No      |
| VZ Holdings                                       | VZ HOLDING AG             | CUSIP: H9239A111<br>LEI: 529900JMJUZCFUVQ0Q82 | Long             | EC               | CORP              | CH        |        64 | NS      | $13603.36     | 2.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Mainstreet Equity Corp.                           | MAINSTREET EQUIT          | CUSIP: 560915100<br>LEI: 984500FB1BA3F6U3DB35 | Long             | EC               | CORP              | CA        |        58 | NS      | $8228.85      | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi HC Capital Inc.                        | MITSUBISHI HC CA          | CUSIP: J4706D100<br>LEI: 353800MZ3QX9RLMH7B09 | Long             | EC               | CORP              | JP        |      1151 | NS      | $8452.62      | 1.29%             |  |  |  | No            |                  2 | On Loan: No      |
| NICHIAS Corporation                               | NICHIAS CORP              | CUSIP: J49205107<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       249 | NS      | $8602.65      | 1.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Chiba Bank Ltd.                                   | CHIBA BANK LTD            | CUSIP: J05670104<br>LEI: FGJPAKKCTZVSKZXNBS63 | Long             | EC               | CORP              | JP        |      1357 | NS      | $12334.02     | 1.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Warpaint London Plc                               | WARPAINT LONDON           | CUSIP: G94524108<br>LEI: 213800EBJ2CN6KIDCO78 | Long             | EC               | CORP              | GB        |      1658 | NS      | $11065.79     | 1.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Nomura Real Estate Holdings Inc.                  | Nomura Real Estate Holdin | CUSIP: J5893B104<br>LEI: 353800UZ91CT24OL9P59 | Long             | EC               | CORP              | JP        |      1029 | NS      | $6026.11      | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| Montea NV                                         | MONTEA NV                 | CUSIP: B6214F103<br>LEI: 5493006K5LQDD0GK1T60 | Long             | EC               | CORP              | BE        |       108 | NS      | $7979.12      | 1.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Arcadis NV                                        | Arcadis NV                | CUSIP: N0605M147<br>LEI: 7245000UZH70GO047N03 | Long             | EC               | CORP              | NL        |       148 | NS      | $7642.53      | 1.16%             |  |  |  | No            |                  2 | On Loan: No      |
| SMS Co Ltd.                                       | SMS Co Ltd                | CUSIP: J7568Q101<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       602 | NS      | $6006.31      | 0.91%             |  |  |  | No            |                  2 | On Loan: No      |
| BRP Inc.                                          | BRP INC/CA-SUB V          | CUSIP: 05577W200<br>LEI: 529900EPQGESIRCPY551 | Long             | EC               | CORP              | CA        |        92 | NS      | $4051.93      | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Diploma PLC                                       | DIPLOMA PLC               | CUSIP: G27664112<br>LEI: 2138008OGI7VYG8FGR19 | Long             | EC               | CORP              | GB        |       184 | NS      | $11632.92     | 1.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Kokusai Electric Corp.                            | KOKUSAI ELECTRIC          | CUSIP: J3532A108<br>LEI: 549300CDY6N3WKYK2I96 | Long             | EC               | CORP              | JP        |       478 | NS      | $9839.63      | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Hensoldt AG                                       | HENSOLDT AG               | CUSIP: D3R14P109<br>LEI: 894500686FYLLZD3M624 | Long             | EC               | CORP              | DE        |        86 | NS      | $8998.56      | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Spirax Group PLC                                  | SPIRAX-SARCO ENG          | CUSIP: G83561129<br>LEI: 213800WFVZQMHOZP2W17 | Long             | EC               | CORP              | GB        |        60 | NS      | $4629.72      | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| Safestore Holdings PLC                            | SAFESTORE HOLDIN          | CUSIP: G77733106<br>LEI: 213800WGA3YSJC1YOH73 | Long             | EC               | CORP              | GB        |       813 | NS      | $7202.87      | 1.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Hill & Smith PLC                                  | HILL & SMITH HLD          | CUSIP: G45080101<br>LEI: 2138003A3ISGQZBOWI83 | Long             | EC               | CORP              | GB        |       317 | NS      | $7898.13      | 1.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Tourmaline Oil Corp.                              | TOURMALINE OIL C          | CUSIP: 89156V106<br>LEI: 894500QKSAGWVM0ZG560 | Long             | EC               | CORP              | CA        |       149 | NS      | $6717.61      | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Institutional Funds                      | NT-INST TRSR-PRM          | CUSIP: 665279873<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        |     26268 | PA      | $26268.27     | 4.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Howden Joinery Group PLC                          | HOWDEN JOINERY GROUP PLC  | CUSIP: G4647J102<br>LEI: 213800KC1LJOJTY3JP45 | Long             | EC               | CORP              | GB        |       667 | NS      | $7740.14      | 1.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Interpump Group S.p.A.                            | INTERPUMP SPA             | CUSIP: T5513W107<br>LEI: 815600C79D0F31F4D395 | Long             | EC               | CORP              | IT        |       190 | NS      | $7410.02      | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Halma PLC                                         | HALMA PLC                 | CUSIP: G42504103<br>LEI: 2138007FRGLUR9KGBT40 | Long             | EC               | CORP              | GB        |       260 | NS      | $10193.03     | 1.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Stella Jones Inc                                  | STELLA-JONES INC          | CUSIP: 85853F105<br>LEI: 5493007LOVNNLYJ6KZ35 | Long             | EC               | CORP              | CA        |       140 | NS      | $7914.29      | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Hulic Co Ltd.                                     | HULIC CO LTD              | CUSIP: J23594112<br>LEI: 3538002E12E7IHAKTB10 | Long             | EC               | CORP              | JP        |       797 | NS      | $8070.65      | 1.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Kotobuki Spirits Co Ltd.                          | KOTOBUKI SPIRITS          | CUSIP: J36383107<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       839 | NS      | $13534.54     | 2.06%             |  |  |  | No            |                  2 | On Loan: No      |
| FirstService Corp.                                | FIRSTSERVICE-WI           | CUSIP: 33767E202<br>LEI: 5493000XUDIV75BCF118 | Long             | EC               | CORP              | CA        |        45 | NS      | $7886.71      | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| TMX Group Ltd.                                    | TMX GROUP LTD             | CUSIP: 87262K105<br>LEI: 549300N65GFVKSHGJW59 | Long             | EC               | CORP              | CA        |       322 | NS      | $13013.44     | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Lease Corporation                             | AIR LEASE C               | CUSIP: 00912X302<br>LEI: 5493004NW4M4P8TMMK63 | Long             | EC               | CORP              | US        |       132 | NS      | $7604.52      | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Borregaard ASA                                    | BORREGAARD ASA            | CUSIP: R1R79W105<br>LEI: 5967007LIEEXZXGYXC05 | Long             | EC               | CORP              | NO        |       456 | NS      | $8375.16      | 1.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Vidrala SA                                        | VIDRALA                   | CUSIP: E9702H109<br>LEI: 95980020140005399488 | Long             | EC               | CORP              | ES        |        77 | NS      | $8240.87      | 1.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Yamaguchi Financial Group Inc                     | YAMAGUCHI FINANCIAL GROUP | CUSIP: J9579M103<br>LEI: 353800898JPV95YSY548 | Long             | EC               | CORP              | JP        |       592 | NS      | $6286.32      | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| Kurita Water Industries Ltd.                      | KURITA WATER IND          | CUSIP: J37221116<br>LEI: 52990086GS2ON69UMX34 | Long             | EC               | CORP              | JP        |       234 | NS      | $8732.18      | 1.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Hilton Food Group PLC                             | HILTON FOOD GROU          | CUSIP: G4586W106<br>LEI: 213800JY7VJFS2OOX355 | Long             | EC               | CORP              | GB        |       806 | NS      | $9436.86      | 1.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Scout24 SE                                        | SCOUT24 SE                | CUSIP: D345XT105<br>LEI: 5493007EIKM2ENQS7U66 | Long             | EC               | CORP              | DE        |       136 | NS      | $18528.67     | 2.82%             |  |  |  | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-27

**Name of Applicant:** Copeland Trust

**Signature:** James Colantino

**Name of Signer:** James Colantino

**Title:** Assistant Treasurer