Copeland Capital Management 13F-HR Quarterly holdings report by institutional manager

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

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

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
NOVO NORDISK	COM	BHC8X90	968	18,050	SH		SOLE		18,050	0	0
FRESENIUS SE & CO.KGaA	COM	4352097	1,083	16,144	SH		SOLE		16,144	0	0
INGENICO SA	COM	4196897	235	1,947	SH		SOLE		1,947	0	0
KERRY GROUP PLC CLASS A	COM	4519579	314	4,183	SH		SOLE		4,183	0	0
PADDY POWER PLC	COM	4828974	311	2,700	SH		SOLE		2,700	0	0
SAFRAN SA	COM	B058TZ6	438	5,818	SH		SOLE		5,818	0	0
CAPITA PLC	COM	B23K0M2	615	33,946	SH		SOLE		33,946	0	0
CLOSE BROTHERS GROUP PLC	COM	0766807	324	14,335	SH		SOLE		14,335	0	0
RECKITT BENCKISER GROUP PLC	COM	B24CGK7	326	3,600	SH		SOLE		3,600	0	0
SHIRE PLC	COM	B2QKY05	820	12,019	SH		SOLE		12,019	0	0
SMITH & NEPHEW PLC	COM	0922320	1,363	78,154	SH		SOLE		78,154	0	0
TECHTRONIC INDUSTRIES CO LTD	COM	B0190C7	389	105,500	SH		SOLE		105,500	0	0
FUJI HEAVY INDUSTRIES LTD	COM	6356406	300	8,400	SH		SOLE		8,400	0	0
SAWAI PHARMACEUTICALS CO LTD	COM	6784955	220	3,800	SH		SOLE		3,800	0	0
3M COMPANY	COM	88579Y101	213	1,500	SH		SOLE		1,500	0	0
ABBVIE INC	COM	00287Y109	307	5,636	SH		SOLE		5,528	0	108
ACE LTD	COM	H0023R105	589	5,698	SH		SOLE		5,698	0	0
ADT CORPORATION	COM	00101J106	6,043	202,105	SH		SOLE		169,405	0	32,700
AIRGAS	COM	009363102	8,286	92,754	SH		SOLE		83,135	0	9,619
AIRGAS	COM	009363102	12	133	SH		DFND	3	133	0	0
ALLIANCE RES PARTNERS LP	COM	01877R108	2,202	98,932	SH		SOLE		2,143	0	96,789
ALTRA INDUSTRIAL MOTION	COM	02208R106	8,081	349,509	SH		SOLE		259,338	0	90,171
ALTRIA GROUP INC	COM	02209S103	17,395	319,762	SH		SOLE		319,412	0	350
ALTRIA GROUP INC	COM	02209S103	2,858	52,530	SH		DFND	2	0	0	52,530
ALTRIA GROUP INC	COM	02209S103	18	332	SH		DFND		0	0	332
AMERICAN STATES WATER COMPANY	COM	029899101	18,333	442,837	SH		SOLE		303,791	0	139,046
AMERICAN TOWER	COM	03027X100	2,311	26,262	SH		SOLE		25,477	0	785
AMERICAN TOWER	COM	03027X100	14	164	SH		DFND	3	164	0	0
AMERIPRISE FINANCIAL INC	COM	03076C106	2,460	22,538	SH		SOLE		21,712	0	826
AMERIPRISE FINANCIAL INC	COM	03076C106	15	137	SH		DFND	2	0	0	137
AMERIPRISE FINANCIAL INC	COM	03076C106	14	132	SH		DFND	3	132	0	0
AMERISOURCEBERGEN	COM	03073E105	20,290	213,603	SH		SOLE		213,603	0	0
AMGEN	COM	031162100	16,439	118,844	SH		SOLE		118,262	0	582
AMGEN	COM	031162100	3,087	22,314	SH		DFND	2	0	0	22,314
AMGEN	COM	031162100	19	139	SH		DFND		0	0	139
AMGEN	COM	031162100	11	80	SH		DFND	3	80	0	0
ANADARKO PETE CORP	COM	032511107	483	8,000	SH		SOLE		8,000	0	0
APACHE CORP	COM	037411105	261	6,666	SH		SOLE		6,666	0	0
APPLE INC	COM	037833100	604	5,476	SH		SOLE		4,890	0	586
ARCHER DANIELS MIDLAND	COM	039483102	15,579	375,860	SH		SOLE		375,860	0	0
ARCHER DANIELS MIDLAND	COM	039483102	2,373	57,252	SH		DFND	2	0	0	57,252
ARCHER DANIELS MIDLAND	COM	039483102	15	354	SH		DFND		0	0	354
AT&T	COM	00206R102	168	5,159	SH		SOLE		4,130	0	1,029
AT&T	COM	00206R102	128	3,914	SH		DFND	2	0	0	3,914
AUTO DATA PROCESSING	COM	053015103	1,098	13,661	SH		SOLE		12,255	0	1,406
AVAGO TECHNOLOGIES LIMITED	COM	Y0486S104	7,401	59,202	SH		SOLE		58,719	0	483
AVAGO TECHNOLOGIES LIMITED	COM	Y0486S104	12	92	SH		DFND	2	0	0	92
AVAGO TECHNOLOGIES LIMITED	COM	Y0486S104	13	103	SH		DFND	3	103	0	0
BANK OF THE OZARKS	COM	063904106	35,787	817,796	SH		SOLE		634,906	0	182,890
BANK OF THE OZARKS	COM	063904106	15	343	SH		DFND	2	0	0	343
BANK OF THE OZARKS	COM	063904106	18	402	SH		DFND	3	402	0	0
BLACKROCK INC	COM	09247X101	690	2,320	SH		SOLE		2,054	0	266
BOEING CO	COM	097023105	684	5,224	SH		SOLE		4,592	0	632
BRINKER INTL INC	COM	109641100	32,444	615,982	SH		SOLE		525,270	0	90,712
BRINKER INTL INC	COM	109641100	3,645	69,201	SH		DFND	2	0	0	69,201
BRINKER INTL INC	COM	109641100	23	430	SH		DFND		0	0	430
BRINKER INTL INC	COM	109641100	11	213	SH		DFND	3	213	0	0
BRIXMOR PROPERTY GROUP INC.	COM	11120U105	6,692	285,003	SH		SOLE		241,832	0	43,171
BROADCOM	COM	111320107	1,481	28,788	SH		SOLE		28,788	0	0
BROADRIDGE FINANCIAL SOLUTIONS	COM	11133T103	8,516	153,849	SH		SOLE		134,517	0	19,332
BROADRIDGE FINANCIAL SOLUTIONS	COM	11133T103	12	220	SH		DFND	2	0	0	220
CANADIAN NATIONAL RAILWAY	COM	136375102	846	14,897	SH		SOLE		13,123	0	1,774
CARDINAL HEALTH	COM	14149Y108	18,711	243,565	SH		SOLE		242,268	0	1,297
CARDINAL HEALTH	COM	14149Y108	3,799	49,450	SH		DFND	2	0	0	49,450
CARDINAL HEALTH	COM	14149Y108	24	318	SH		DFND		0	0	318
CARDINAL HEALTH	COM	14149Y108	11	144	SH		DFND	3	144	0	0
CASEY'S GENERAL STORES	COM	147528103	30,243	293,846	SH		SOLE		231,052	0	62,794
CEB INC.	COM	125134106	21,966	321,426	SH		SOLE		251,703	0	69,723
CEB INC.	COM	125134106	10	145	SH		DFND	2	0	0	145
CEB INC.	COM	125134106	13	195	SH		DFND	3	195	0	0
CHEMED CORP	COM	16359R103	33,252	249,133	SH		SOLE		207,744	0	41,389
CHURCH & DWIGHT	COM	171340102	28,430	338,859	SH		SOLE		322,416	0	16,443
CHURCH & DWIGHT	COM	171340102	3,363	40,083	SH		DFND	2	0	0	40,083
CHURCH & DWIGHT	COM	171340102	21	249	SH		DFND		0	0	249
CHURCH & DWIGHT	COM	171340102	17	197	SH		DFND	3	197	0	0
CHURCHILL DOWNS INC	COM	171484108	18,692	139,689	SH		SOLE		95,249	0	44,440
COMCAST CORP	COM	20030N200	19,961	348,727	SH		SOLE		347,503	0	1,224
COMCAST CORP	COM	20030N200	3,502	61,176	SH		DFND	2	0	0	61,176
COMCAST CORP	COM	20030N200	22	385	SH		DFND		0	0	385
COMCAST CORP	COM	20030N200	17	294	SH		DFND	3	294	0	0
COMPASS MINERALS INTL	COM	20451N101	894	11,403	SH		SOLE		59	0	11,344
CORE LABORATORIES N.V.	COM	N22717107	6,064	60,762	SH		SOLE		53,399	0	7,363
CORE LABORATORIES N.V.	COM	N22717107	8	81	SH		DFND	3	81	0	0
CORE-MARK HOLDING COMPANY	COM	218681104	13,679	208,993	SH		SOLE		139,619	0	69,374
COSTCO WHOLESALE	COM	22160K105	19,502	134,894	SH		SOLE		134,377	0	517
COSTCO WHOLESALE	COM	22160K105	3,498	24,194	SH		DFND	2	0	0	24,194
COSTCO WHOLESALE	COM	22160K105	22	151	SH		DFND		0	0	151
CUMMINS	COM	231021106	857	7,897	SH		SOLE		7,224	0	673
CUMMINS	COM	231021106	9	82	SH		DFND	2	0	0	82
CUMMINS	COM	231021106	10	94	SH		DFND	3	94	0	0
CVS HEALTH CORP	COM	126650100	18,912	196,018	SH		SOLE		194,995	0	1,023
CVS HEALTH CORP	COM	126650100	3,502	36,303	SH		DFND	2	0	0	36,303
CVS HEALTH CORP	COM	126650100	23	242	SH		DFND		0	0	242
CVS HEALTH CORP	COM	126650100	16	164	SH		DFND	3	164	0	0
DISCOVER FINANCIAL SVCS	COM	254709108	7,260	139,637	SH		SOLE		139,637	0	0
DISCOVER FINANCIAL SVCS	COM	254709108	10	197	SH		DFND	2	0	0	197
DISCOVER FINANCIAL SVCS	COM	254709108	11	218	SH		DFND	3	218	0	0
DISNEY WALT	COM	254687106	20,031	195,996	SH		SOLE		195,105	0	891
DISNEY WALT	COM	254687106	3,681	36,017	SH		DFND	2	0	0	36,017
DISNEY WALT	COM	254687106	23	225	SH		DFND		0	0	225
DISNEY WALT	COM	254687106	13	130	SH		DFND	3	130	0	0
DR PEPPER SNAPPLE GROUP INC	COM	26138E109	17,704	223,957	SH		SOLE		223,657	0	300
DR PEPPER SNAPPLE GROUP INC	COM	26138E109	2,912	36,836	SH		DFND	2	0	0	36,836
DR PEPPER SNAPPLE GROUP INC	COM	26138E109	18	230	SH		DFND		0	0	230
DUPONT FABROS TECHNOLOGY INC	COM	26613Q106	11,305	436,807	SH		SOLE		295,796	0	141,011
ECOLAB	COM	278865100	2,561	23,345	SH		SOLE		22,587	0	758
ECOLAB	COM	278865100	14	130	SH		DFND	2	0	0	130
ENLINK MIDSTREAM LLC	COM	29336T100	3,584	196,082	SH		SOLE		170,368	0	25,714
ENTERPRISE PRD PRTNRS LP	COM	293792107	627	25,170	SH		SOLE		23,362	0	1,808
EVERCORE PARTNERS INC. CLASS A	COM	29977A105	12,388	246,574	SH		SOLE		165,312	0	81,262
EXPONENT INC	COM	30214U102	15,742	353,269	SH		SOLE		263,185	0	90,084
EXXON MOBIL CORP	COM	30231G102	601	8,081	SH		SOLE		7,281	0	800
FACTSET RESEARCH SYSTEMS INC	COM	303075105	7,929	49,616	SH		SOLE		42,060	0	7,556
FEI COMPANY	COM	30241L109	14,251	195,107	SH		SOLE		133,271	0	61,836
FLOWERS FOODS INC	COM	343498101	13,541	547,321	SH		SOLE		547,321	0	0
G&K SERVICES	COM	361268105	14,460	217,050	SH		SOLE		148,613	0	68,437
GAMESTOP CORP CLASS A	COM	36467W109	7,344	178,199	SH		SOLE		153,313	0	24,886
GENERAL ELECTRIC	COM	369604103	1,203	47,708	SH		SOLE		47,525	0	183
HARRIS CORPORATION	COM	413875105	7,592	103,784	SH		SOLE		88,303	0	15,481
HARRIS CORPORATION	COM	413875105	11	155	SH		DFND	2	0	0	155
HEALTHCARE SERVICES GROUP	COM	421906108	17,981	533,562	SH		SOLE		396,725	0	136,837
HEALTHSOUTH CORP	COM	421924309	18,058	470,619	SH		SOLE		366,035	0	104,584
HEARTLAND PAYMENT SYSTEMS	COM	42235N108	22,467	356,566	SH		SOLE		246,175	0	110,391
HEARTLAND PAYMENT SYSTEMS	COM	42235N108	20	320	SH		DFND	3	320	0	0
HEICO CORP	COM	422806109	17,067	349,153	SH		SOLE		247,026	0	102,127
HEICO CORP	COM	422806109	16	327	SH		DFND	3	327	0	0
HOME BANCSHARES INC	COM	436893200	19,079	471,098	SH		SOLE		328,293	0	142,805
HOME DEPOT INC	COM	437076102	19,731	170,849	SH		SOLE		169,801	0	1,048
HOME DEPOT INC	COM	437076102	2,973	25,741	SH		DFND	2	0	0	25,741
HOME DEPOT INC	COM	437076102	19	162	SH		DFND		0	0	162
HORMEL FOODS	COM	440452100	18,535	292,765	SH		SOLE		292,765	0	0
HORMEL FOODS	COM	440452100	3,547	56,027	SH		DFND	2	0	0	56,027
HORMEL FOODS	COM	440452100	22	349	SH		DFND		0	0	349
INNOPHOS HOLDINGS INC	COM	45774N108	8,251	208,143	SH		SOLE		140,016	0	68,127
INTERNATIONAL PAPER COMPANY	COM	460146103	3,438	90,975	SH		SOLE		90,975	0	0
INTL FLAVORS & FRAGRANCES	COM	459506101	22,704	219,876	SH		SOLE		210,849	0	9,027
INTL FLAVORS & FRAGRANCES	COM	459506101	2,700	26,143	SH		DFND	2	0	0	26,143
INTL FLAVORS & FRAGRANCES	COM	459506101	17	162	SH		DFND		0	0	162
INVESCO LTD	COM	BMG491BT1	250	8,000	SH		SOLE		8,000	0	0
ITC HOLDINGS CORP	COM	465685105	6,280	188,370	SH		SOLE		157,672	0	30,698
J & J SNACK FOODS CORP	COM	466032109	19,753	173,791	SH		SOLE		121,255	0	52,536
J & J SNACK FOODS CORP	COM	466032109	17	152	SH		DFND	3	152	0	0
J2 GLOBAL COMMUNICATIONS INC	COM	48123V102	23,914	337,524	SH		SOLE		235,667	0	101,857
J2 GLOBAL COMMUNICATIONS INC	COM	48123V102	20	279	SH		DFND	3	279	0	0
JACK HENRY & ASSOCIATES INC	COM	426281101	27,359	393,026	SH		SOLE		311,838	0	81,188
JACK HENRY & ASSOCIATES INC	COM	426281101	16	227	SH		DFND	2	0	0	227
JOHNSON & JOHNSON	COM	478160104	343	3,672	SH		SOLE		3,672	0	0
KANSAS CITY SOUTHERN	COM	485170302	7,404	81,469	SH		SOLE		71,508	0	9,961
KINDER MORGAN	COM	49456B101	1,942	70,146	SH		SOLE		68,285	0	1,861
KINDER MORGAN	COM	49456B101	8	292	SH		DFND	3	292	0	0
KROGER	COM	501044101	18,639	516,757	SH		SOLE		514,043	0	2,714
KROGER	COM	501044101	3,539	98,104	SH		DFND	2	0	0	98,104
KROGER	COM	501044101	22	610	SH		DFND		0	0	610
KROGER	COM	501044101	11	292	SH		DFND	3	292	0	0
LAZARD LTD-CL A	COM	G54050102	9,623	222,251	SH		SOLE		197,234	0	25,017
LAZARD LTD-CL A	COM	G54050102	10	226	SH		DFND	2	0	0	226
LITHIA MOTORS INC	COM	536797103	18,845	174,315	SH		SOLE		118,364	0	55,951
LITTELFUSE INC	COM	537008104	14,383	157,794	SH		SOLE		109,907	0	47,887
LOCKHEED MARTIN	COM	539830109	2,301	11,100	SH		SOLE		11,100	0	0
LOCKHEED MARTIN	COM	539830109	15	71	SH		DFND	2	0	0	71
MCDONALDS	COM	580135101	249	2,525	SH		SOLE		2,445	0	80
MEAD JOHNSON NUTRITION CO	COM	582839106	877	12,454	SH		SOLE		12,454	0	0
MEDTRONIC PLC	COM	G5960L103	19,341	288,932	SH		SOLE		288,063	0	869
MEDTRONIC PLC	COM	G5960L103	3,179	47,491	SH		DFND	2	0	0	47,491
MEDTRONIC PLC	COM	G5960L103	20	296	SH		DFND		0	0	296
MEDTRONIC PLC	COM	G5960L103	7	111	SH		DFND	3	111	0	0
MICROSOFT	COM	594918104	188	4,251	SH		SOLE		3,801	0	450
MICROSOFT	COM	594918104	66	1,500	SH		DFND	2	0	0	1,500
MONOTYPE IMAGING HOLDINGS INC	COM	61022P100	10,830	496,340	SH		SOLE		368,355	0	127,985
MOVADO GROUP INC.	COM	624580106	7,001	271,060	SH		SOLE		203,478	0	67,582
MSC INDL DIRECT INC CL A	COM	553530106	721	11,806	SH		SOLE		92	0	11,714
NEWMARKET	COM	651587107	18,153	50,850	SH		SOLE		39,030	0	11,820
NEWMARKET	COM	651587107	15	42	SH		DFND	3	42	0	0
NIKE INC	COM	654106103	18,940	154,020	SH		SOLE		154,020	0	0
NIKE INC	COM	654106103	4,075	33,142	SH		DFND	2	0	0	33,142
NIKE INC	COM	654106103	25	207	SH		DFND		0	0	207
NORDSON CORP	COM	655663102	7,690	122,184	SH		SOLE		108,906	0	13,278
NORDSON CORP	COM	655663102	10	165	SH		DFND	2	0	0	165
NORDSON CORP	COM	655663102	11	173	SH		DFND	3	173	0	0
NOVO-NORDISK A/S-SPONS ADR	COM	670100205	1,170	21,564	SH		SOLE		19,744	0	1,820
NOVO-NORDISK A/S-SPONS ADR	COM	670100205	17	315	SH		DFND	3	315	0	0
NRG YIELD	COM	62942X306	10,559	946,967	SH		SOLE		728,726	0	218,241
NU SKIN ENTERPRISES INC - A	COM	67018T105	5,045	122,226	SH		SOLE		107,414	0	14,812
OMEGA HEALTHCARE INVESTORS	COM	681936100	9,417	267,911	SH		SOLE		237,730	0	30,181
OMEGA HEALTHCARE INVESTORS	COM	681936100	11	314	SH		DFND	2	0	0	314
OMEGA HEALTHCARE INVESTORS	COM	681936100	15	433	SH		DFND	3	433	0	0
PARKER HANNIFIN	COM	701094104	1,642	16,877	SH		SOLE		16,877	0	0
PARKER HANNIFIN	COM	701094104	11	112	SH		DFND	3	112	0	0
PERRIGO COMPANY	COM	G97822103	786	5,000	SH		SOLE		5,000	0	0
PFIZER	COM	717081103	260	8,262	SH		SOLE		8,262	0	0
PHILLIPS 66	COM	718546104	1,731	22,524	SH		SOLE		22,524	0	0
PHILLIPS 66	COM	718546104	15	195	SH		DFND	3	195	0	0
PHILLIPS 66 PARTNERS LP	COM	718549207	3,473	70,496	SH		SOLE		3,894	0	66,602
POLARIS INDUSTRIES	COM	731068102	24,960	208,229	SH		SOLE		199,085	0	9,144
POLARIS INDUSTRIES	COM	731068102	3,063	25,557	SH		DFND	2	0	0	25,557
POLARIS INDUSTRIES	COM	731068102	19	158	SH		DFND		0	0	158
POLARIS INDUSTRIES	COM	731068102	11	94	SH		DFND	3	94	0	0
POOL CORP	COM	73278L105	20,896	289,015	SH		SOLE		202,281	0	86,734
POWER INTEGRATIONS, INC	COM	739276103	9,624	228,221	SH		SOLE		152,460	0	75,761
PROSPERITY BANCSHARES	COM	743606105	11,489	233,949	SH		SOLE		209,524	0	24,425
PROSPERITY BANCSHARES	COM	743606105	13	262	SH		DFND	3	262	0	0
QUAKER CHEMICAL CORP	COM	747316107	12,723	165,066	SH		SOLE		122,889	0	42,177
QUEST DIAGNOSTICS	COM	74834L100	23,063	375,188	SH		SOLE		361,484	0	13,704
QUEST DIAGNOSTICS	COM	74834L100	3,137	51,033	SH		DFND	2	0	0	51,033
QUEST DIAGNOSTICS	COM	74834L100	20	318	SH		DFND		0	0	318
QUEST DIAGNOSTICS	COM	74834L100	11	171	SH		DFND	3	171	0	0
RESMED INC	COM	761152107	7,348	144,195	SH		SOLE		127,354	0	16,841
RETAIL OPPORTUNITY INVST CORP	COM	76131N101	17,831	1,078,047	SH		SOLE		749,892	0	328,155
RITCHIE BROS AUCTIONEERS	COM	767744105	13,925	538,063	SH		SOLE		344,322	0	193,741
ROCKWELL AUTOMATION	COM	773903109	6,153	60,635	SH		SOLE		60,040	0	595
ROSS STORES	COM	778296103	26,389	544,448	SH		SOLE		541,342	0	3,106
ROSS STORES	COM	778296103	17	360	SH		DFND	3	360	0	0
SABRA HEALTH CARE REIT	COM	78573L106	9,391	405,145	SH		SOLE		298,248	0	106,897
SCRIPPS NETWORKS INTER-CL A	COM	811065101	19,326	392,879	SH		SOLE		379,668	0	13,211
SCRIPPS NETWORKS INTER-CL A	COM	811065101	9	175	SH		DFND	3	175	0	0
SEMGROUP CORPORATION CLASS A	COM	81663A105	9,131	211,178	SH		SOLE		146,381	0	64,797
SIGMA-ALDRICH	COM	826552101	309	2,227	SH		SOLE		2,227	0	0
SMITH & NEPHEW PLC	COM	83175M205	6,069	173,411	SH		SOLE		173,411	0	0
SNAP-ON INC	COM	833034101	9,969	66,047	SH		SOLE		57,100	0	8,947
SOLERA HOLDINGS	COM	83421A104	7,945	147,123	SH		SOLE		127,317	0	19,806
SOLERA HOLDINGS	COM	83421A104	12	214	SH		DFND	3	214	0	0
SOUTH STATE CORP.	COM	840441109	15,959	207,604	SH		SOLE		152,338	0	55,266
STANDARD MOTOR PRODUCTS	COM	853666105	11,558	331,378	SH		SOLE		246,297	0	85,081
STARBUCKS CORP	COM	855244109	2,013	35,417	SH		SOLE		35,417	0	0
STERIS CORP	COM	859152100	42,102	648,022	SH		SOLE		557,266	0	90,756
STERIS CORP	COM	859152100	2,885	44,409	SH		DFND	2	0	0	44,409
STERIS CORP	COM	859152100	18	276	SH		DFND		0	0	276
STRYKER CORP	COM	863667101	16,392	174,194	SH		SOLE		174,194	0	0
STRYKER CORP	COM	863667101	3,290	34,959	SH		DFND	2	0	0	34,959
STRYKER CORP	COM	863667101	21	218	SH		DFND		0	0	218
SUNOCO LOGISTICS PARTNERS L.P	COM	86764L108	5,980	208,655	SH		SOLE		182,689	0	25,966
T ROWE PRICE GROUP INC	COM	74144T108	993	14,285	SH		SOLE		13,225	0	1,060
T ROWE PRICE GROUP INC	COM	74144T108	8	122	SH		DFND	2	0	0	122
T ROWE PRICE GROUP INC	COM	74144T108	11	157	SH		DFND	3	157	0	0
TARGA RESOURCES CORP	COM	87612G101	6,158	119,519	SH		SOLE		88,237	0	31,282
TEVA PHARMACEUTICAL	COM	881624209	18,194	322,244	SH		SOLE		322,244	0	0
TEVA PHARMACEUTICAL	COM	881624209	2,958	52,389	SH		DFND	2	0	0	52,389
TEVA PHARMACEUTICAL	COM	881624209	18	326	SH		DFND		0	0	326
TEVA PHARMACEUTICAL	COM	881624209	12	219	SH		DFND	3	219	0	0
THE ENSIGN GROUP INC	COM	29358P101	14,875	348,927	SH		SOLE		244,714	0	104,213
THOR INDUSTRIES INC	COM	885160101	12,089	233,385	SH		SOLE		159,696	0	73,689
TIME WARNER INC NEW	COM	887317303	1,758	25,567	SH		SOLE		25,567	0	0
TJX COMPANIES INC	COM	872540109	17,161	240,283	SH		SOLE		240,283	0	0
TJX COMPANIES INC	COM	872540109	3,580	50,131	SH		DFND	2	0	0	50,131
TJX COMPANIES INC	COM	872540109	24	331	SH		DFND		0	0	331
TRACTOR SUPPLY CO COM	COM	892356106	10,671	126,559	SH		SOLE		111,108	0	15,451
UGI CORP	COM	902681105	202	5,811	SH		SOLE		5,811	0	0
UGI CORP	COM	902681105	13	373	SH		DFND	3	373	0	0
UNION PACIFIC	COM	907818108	1,677	18,964	SH		SOLE		18,964	0	0
UNION PACIFIC	COM	907818108	12	140	SH		DFND	2	0	0	140
UNION PACIFIC	COM	907818108	11	120	SH		DFND	3	120	0	0
UNITED PARCEL SERVICE CLASS B	COM	911312106	1,740	17,635	SH		SOLE		17,635	0	0
UNITEDHEALTH GROUP INC	COM	91324P102	20,266	174,690	SH		SOLE		173,615	0	1,075
UNITEDHEALTH GROUP INC	COM	91324P102	3,697	31,866	SH		DFND	2	0	0	31,866
UNITEDHEALTH GROUP INC	COM	91324P102	23	197	SH		DFND		0	0	197
UNITEDHEALTH GROUP INC	COM	91324P102	22	187	SH		DFND	3	187	0	0
VALSPAR	COM	920355104	6,941	96,563	SH		SOLE		82,653	0	13,910
VF CORP	COM	918204108	940	13,777	SH		SOLE		12,346	0	1,431
VISA	COM	92826C839	3,246	46,594	SH		SOLE		44,794	0	1,800
VISA	COM	92826C839	15	217	SH		DFND	2	0	0	217
VISA	COM	92826C839	19	272	SH		DFND	3	272	0	0
WADDELL & REED	COM	930059100	5,068	145,769	SH		SOLE		130,607	0	15,162
WASTE CONNECTIONS	COM	941053100	7,660	157,669	SH		SOLE		134,757	0	22,912
WASTE CONNECTIONS	COM	941053100	15	304	SH		DFND	3	304	0	0
WELLS FARGO	COM	949746101	879	17,122	SH		SOLE		15,353	0	1,769
WELLS FARGO	COM	949746101	14	268	SH		DFND	2	0	0	268
WELLS FARGO	COM	949746101	11	220	SH		DFND	3	220	0	0
WESTWOOD HOLDINGS GROUP	COM	961765104	482	8,868	SH		SOLE		8,528	0	340
WW GRAINGER	COM	384802104	7,314	34,018	SH		SOLE		34,018	0	0
WW GRAINGER	COM	384802104	13	61	SH		DFND	2	0	0	61
WW GRAINGER	COM	384802104	12	54	SH		DFND	3	54	0	0
WYNDHAM WORLDWIDE	COM	98310W108	24,141	335,754	SH		SOLE		322,978	0	12,776
WYNDHAM WORLDWIDE	COM	98310W108	2,838	39,469	SH		DFND	2	0	0	39,469
WYNDHAM WORLDWIDE	COM	98310W108	18	245	SH		DFND		0	0	245
WYNDHAM WORLDWIDE	COM	98310W108	10	136	SH		DFND	3	136	0	0
XILINX	COM	983919101	7,355	173,461	SH		SOLE		152,475	0	20,986
XILINX	COM	983919101	10	242	SH		DFND	3	242	0	0