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
Estimated average burden
hours per response:		23.8

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
STEADFAST GROUP LTD	COM	00BCT5FD7	40	17,559	SH		SOLE		17,559	0	0
CITIC TELECOM INTERNATIONAL HO	COM	00B1VKZ88	11	35,700	SH		SOLE		35,700	0	0
SITC INTERNATIONAL HOLDINGS	COM	00B61X7R5	19	13,600	SH		SOLE		13,600	0	0
3M COMPANY	COM	88579Y101	240	1,500	SH		SOLE		1,500	0	0
AARONS HOLDINGS CO INC	COM	00258R109	33,385	589,321	SH		SOLE		565,824	0	23,497
AARONS HOLDINGS CO INC	COM	00258R109	2,774	48,975	SH		DFND		0	0	48,975
AARONS HOLDINGS CO INC	COM	00258R109	5,885	103,886	SH		DFND	4	0	0	103,886
ABM INDS INC	COM	000957100	15,716	428,697	SH		SOLE		408,883	0	19,814
ACCENTURE PLC	COM	G1151C101	4,506	19,938	SH		SOLE		19,938	0	0
ADVANCE AUTO PARTS	COM	00751Y106	4,489	29,244	SH		SOLE		29,244	0	0
ADVANCE AUTO PARTS	COM	00751Y106	1,988	12,952	SH		DFND		0	0	12,952
ADVANCE AUTO PARTS	COM	00751Y106	4,393	28,616	SH		DFND	4	0	0	28,616
AIR PRODUCTS AND CHEMICALS	COM	009158106	4,868	16,342	SH		SOLE		16,275	0	67
ALEXANDRIA REAL ESTATE EQUITIE	COM	015271109	4,209	26,306	SH		SOLE		26,306	0	0
ALEXANDRIA REAL ESTATE EQUITIE	COM	015271109	2,301	14,382	SH		DFND		0	0	14,382
ALEXANDRIA REAL ESTATE EQUITIE	COM	015271109	5,088	31,800	SH		DFND	4	0	0	31,800
ALGONQUIN POWER AND UTILITIES	COM	015857105	27,403	1,884,661	SH		SOLE		1,811,812	0	72,849
ALGONQUIN POWER AND UTILITIES	COM	015857105	2,587	177,890	SH		DFND		0	0	177,890
ALGONQUIN POWER AND UTILITIES	COM	015857105	5,604	385,406	SH		DFND	4	0	0	385,406
ALLSTATE CORP	COM	020002101	729	7,748	SH		SOLE		7,748	0	0
AMERICAN STATES WATER COMPANY	COM	029899101	20,720	276,448	SH		SOLE		265,477	0	10,971
AMERICAN STATES WATER COMPANY	COM	029899101	1,662	22,169	SH		DFND		0	0	22,169
AMERICAN STATES WATER COMPANY	COM	029899101	3,539	47,215	SH		DFND	4	0	0	47,215
AMERICAN TOWER CORPORATION	COM	03027X100	6,261	25,900	SH		SOLE		25,808	0	92
AMERICAN WATER WORKS COMPANY	COM	030420103	7,921	54,673	SH		SOLE		54,556	0	117
AMERICAN WATER WORKS COMPANY	COM	030420103	2,213	15,273	SH		DFND		0	0	15,273
AMERICAN WATER WORKS COMPANY	COM	030420103	4,761	32,862	SH		DFND	4	0	0	32,862
AMERICOLD REALTY TRUST	COM	03064D108	24,679	690,308	SH		SOLE		663,016	0	27,292
AMERICOLD REALTY TRUST	COM	03064D108	2,041	57,089	SH		DFND		0	0	57,089
AMERICOLD REALTY TRUST	COM	03064D108	4,418	123,575	SH		DFND	4	0	0	123,575
AMERIPRISE FINANCIAL INC	COM	03076C106	3,785	24,558	SH		SOLE		24,479	0	79
AMERISAFE INC	COM	03071H100	14,453	251,970	SH		SOLE		240,557	0	11,413
AMPHENOL CORP	COM	032095101	204	1,881	SH		SOLE		1,881	0	0
APPLE INC	COM	037833100	8,769	75,715	SH		SOLE		75,471	0	244
AUDIOCODES LTD	COM	M15342104	18,943	602,141	SH		SOLE		578,060	0	24,081
AUDIOCODES LTD	COM	M15342104	1,906	60,600	SH		DFND		0	0	60,600
AUDIOCODES LTD	COM	M15342104	4,131	131,317	SH		DFND	4	0	0	131,317
AUTOMATIC DATA PROCESSING	COM	053015103	4,650	33,339	SH		SOLE		33,239	0	100
BADGER METER INC.	COM	056525108	22,641	346,351	SH		SOLE		332,437	0	13,914
BADGER METER INC.	COM	056525108	2,085	31,891	SH		DFND		0	0	31,891
BADGER METER INC.	COM	056525108	4,552	69,632	SH		DFND	4	0	0	69,632
BANK OZK	COM	06417N103	19,964	936,384	SH		SOLE		900,266	0	36,118
BANK OZK	COM	06417N103	1,817	85,237	SH		DFND		0	0	85,237
BANK OZK	COM	06417N103	3,941	184,844	SH		DFND	4	0	0	184,844
BLACKROCK INC	COM	09247X101	5,315	9,431	SH		SOLE		9,396	0	35
BOOZ ALLEN HAMILTON	COM	099502106	1,739	20,955	SH		SOLE		20,955	0	0
BROADCOM INC	COM	11135F101	6,788	18,631	SH		SOLE		18,566	0	65
BROADRIDGE FINANCIAL SOLUTIONS	COM	11133T103	8,761	66,374	SH		SOLE		66,255	0	119
BROADRIDGE FINANCIAL SOLUTIONS	COM	11133T103	1,863	14,116	SH		DFND		0	0	14,116
BROADRIDGE FINANCIAL SOLUTIONS	COM	11133T103	4,041	30,612	SH		DFND	4	0	0	30,612
BRUNSWICK CORP	COM	117043109	24,885	422,424	SH		SOLE		406,172	0	16,252
BRUNSWICK CORP	COM	117043109	2,104	35,716	SH		DFND		0	0	35,716
BRUNSWICK CORP	COM	117043109	4,564	77,475	SH		DFND	4	0	0	77,475
BWX TECHNOLOGIES	COM	05605H100	29,046	515,818	SH		SOLE		495,666	0	20,152
BWX TECHNOLOGIES	COM	05605H100	2,143	38,064	SH		DFND		0	0	38,064
BWX TECHNOLOGIES	COM	05605H100	4,488	79,693	SH		DFND	4	0	0	79,693
C H ROBINSON WORLDWIDE	COM	12541W209	233	2,276	SH		SOLE		2,276	0	0
CABLE ONE INC	COM	12685J105	4,286	2,273	SH		SOLE		2,273	0	0
CABLE ONE INC	COM	12685J105	2,142	1,136	SH		DFND		0	0	1,136
CABLE ONE INC	COM	12685J105	4,706	2,496	SH		DFND	4	0	0	2,496
CABOT OIL AND GAS	COM	127097103	5,721	329,539	SH		SOLE		329,539	0	0
CABOT OIL AND GAS	COM	127097103	1,687	97,179	SH		DFND		0	0	97,179
CABOT OIL AND GAS	COM	127097103	3,641	209,755	SH		DFND	4	0	0	209,755
CALAVO GROWERS	COM	128246105	25,894	390,735	SH		SOLE		375,842	0	14,893
CALAVO GROWERS	COM	128246105	1,978	29,849	SH		DFND		0	0	29,849
CALAVO GROWERS	COM	128246105	4,306	64,984	SH		DFND	4	0	0	64,984
CASEY'S GENERAL STORES	COM	147528103	24,364	137,147	SH		SOLE		131,935	0	5,212
CASEY'S GENERAL STORES	COM	147528103	2,216	12,476	SH		DFND		0	0	12,476
CASEY'S GENERAL STORES	COM	147528103	4,792	26,972	SH		DFND	4	0	0	26,972
CDW CORP	COM	12514G108	3,534	29,565	SH		SOLE		29,501	0	64
CHEMED CORP	COM	16359R103	32,555	67,774	SH		SOLE		65,181	0	2,593
CHEMED CORP	COM	16359R103	2,449	5,098	SH		DFND		0	0	5,098
CHEMED CORP	COM	16359R103	5,398	11,237	SH		DFND	4	0	0	11,237
CHESAPEAKE UTILITIES	COM	165303108	17,037	202,101	SH		SOLE		192,532	0	9,569
CHURCH AND DWIGHT	COM	171340102	8,594	91,704	SH		SOLE		91,493	0	211
CHURCH AND DWIGHT	COM	171340102	1,872	19,973	SH		DFND		0	0	19,973
CHURCH AND DWIGHT	COM	171340102	4,103	43,787	SH		DFND	4	0	0	43,787
CMC MATERIALS INC.	COM	12571T100	27,087	189,671	SH		SOLE		182,392	0	7,279
CMC MATERIALS INC.	COM	12571T100	2,220	15,546	SH		DFND		0	0	15,546
CMC MATERIALS INC.	COM	12571T100	4,837	33,873	SH		DFND	4	0	0	33,873
COGENT COMMUNICATIONS HOLDINGS	COM	19239V302	17,283	287,808	SH		SOLE		276,599	0	11,209
COGENT COMMUNICATIONS HOLDINGS	COM	19239V302	1,704	28,377	SH		DFND		0	0	28,377
COGENT COMMUNICATIONS HOLDINGS	COM	19239V302	3,678	61,247	SH		DFND	4	0	0	61,247
COGNEX CORPORATION	COM	192422103	3,251	49,934	SH		SOLE		49,934	0	0
COGNEX CORPORATION	COM	192422103	1,805	27,734	SH		DFND		0	0	27,734
COGNEX CORPORATION	COM	192422103	4,131	63,452	SH		DFND	4	0	0	63,452
COHEN & STEERS INC	COM	19247A100	24,969	447,955	SH		SOLE		429,691	0	18,264
COHEN & STEERS INC	COM	19247A100	2,297	41,211	SH		DFND		0	0	41,211
COHEN & STEERS INC	COM	19247A100	4,945	88,713	SH		DFND	4	0	0	88,713
COMCAST	COM	20030N101	4,772	103,153	SH		SOLE		102,830	0	323
CORE-MARK HOLDING COMPANY	COM	218681104	20,499	708,579	SH		SOLE		680,715	0	27,864
CORE-MARK HOLDING COMPANY	COM	218681104	2,241	77,448	SH		DFND		0	0	77,448
CORE-MARK HOLDING COMPANY	COM	218681104	4,900	169,358	SH		DFND	4	0	0	169,358
COSTCO WHOLESALE	COM	22160K105	5,376	15,143	SH		SOLE		15,090	0	53
D.R. HORTON INC	COM	23331A109	323	4,273	SH		SOLE		4,273	0	0
DISCOVER FINANCIAL	COM	254709108	6,089	105,388	SH		SOLE		105,062	0	326
DISCOVER FINANCIAL	COM	254709108	2,267	39,238	SH		DFND		0	0	39,238
DISCOVER FINANCIAL	COM	254709108	4,721	81,712	SH		DFND	4	0	0	81,712
DOLLAR GENERAL	COM	256677105	4,892	23,335	SH		SOLE		23,254	0	81
DOMINO'S PIZZA INC	COM	25754A201	5,159	12,130	SH		SOLE		12,130	0	0
DOMINO'S PIZZA INC	COM	25754A201	2,369	5,570	SH		DFND		0	0	5,570
DOMINO'S PIZZA INC	COM	25754A201	5,417	12,737	SH		DFND	4	0	0	12,737
ECOLAB	COM	278865100	4,750	23,771	SH		SOLE		23,690	0	81
ENCOMPASS HEALTH	COM	29261A100	30,389	467,659	SH		SOLE		449,536	0	18,123
ENCOMPASS HEALTH	COM	29261A100	1,913	29,447	SH		DFND		0	0	29,447
ENCOMPASS HEALTH	COM	29261A100	4,129	63,541	SH		DFND	4	0	0	63,541
EQUINIX INC	COM	29444U700	5,333	7,016	SH		SOLE		6,998	0	18
EVERCORE INC	COM	29977A105	18,961	289,657	SH		SOLE		276,533	0	13,124
EXPONENT INC	COM	30214U102	24,849	344,978	SH		SOLE		330,330	0	14,648
EXPONENT INC	COM	30214U102	1,355	18,810	SH		DFND		0	0	18,810
EXPONENT INC	COM	30214U102	2,944	40,878	SH		DFND	4	0	0	40,878
FACTSET RESEARCH SYSTEMS INC	COM	303075105	10,072	30,077	SH		SOLE		30,032	0	45
FACTSET RESEARCH SYSTEMS INC	COM	303075105	2,631	7,857	SH		DFND		0	0	7,857
FACTSET RESEARCH SYSTEMS INC	COM	303075105	5,816	17,367	SH		DFND	4	0	0	17,367
FASTENAL	COM	311900104	1,205	26,724	SH		SOLE		26,724	0	0
FEDERAL AGRICULTURAL MORTGAGE	COM	313148306	17,897	281,132	SH		SOLE		267,824	0	13,308
GLOBAL LIFE INC	COM	37959E102	2,500	31,288	SH		SOLE		31,288	0	0
GLOBAL LIFE INC	COM	37959E102	1,675	20,962	SH		DFND		0	0	20,962
GLOBAL LIFE INC	COM	37959E102	3,531	44,191	SH		DFND	4	0	0	44,191
HOME BANCSHARES	COM	436893200	18,853	1,243,569	SH		SOLE		1,194,831	0	48,738
HOME BANCSHARES	COM	436893200	1,612	106,335	SH		DFND		0	0	106,335
HOME BANCSHARES	COM	436893200	3,463	228,443	SH		DFND	4	0	0	228,443
HOME DEPOT	COM	437076102	6,006	21,628	SH		SOLE		21,550	0	78
HUNTINGTON INGALLS INDUSTRIES	COM	446413106	3,001	21,320	SH		SOLE		21,320	0	0
HUNTINGTON INGALLS INDUSTRIES	COM	446413106	1,140	8,096	SH		DFND		0	0	8,096
HUNTINGTON INGALLS INDUSTRIES	COM	446413106	2,506	17,805	SH		DFND	4	0	0	17,805
INNOVATIVE INDUSTRIAL PROPERTI	COM	45781V101	21,610	174,120	SH		SOLE		166,406	0	7,714
INNOVATIVE INDUSTRIAL PROPERTI	COM	45781V101	1,304	10,506	SH		DFND		0	0	10,506
INNOVATIVE INDUSTRIAL PROPERTI	COM	45781V101	2,771	22,326	SH		DFND	4	0	0	22,326
INTUIT	COM	461202103	5,756	17,644	SH		SOLE		17,591	0	53
J AND J SNACK FOODS	COM	466032109	21,680	166,271	SH		SOLE		159,742	0	6,529
J AND J SNACK FOODS	COM	466032109	1,985	15,227	SH		DFND		0	0	15,227
J AND J SNACK FOODS	COM	466032109	4,277	32,805	SH		DFND	4	0	0	32,805
JACK HENRY AND ASSOCIATES INC	COM	426281101	3,455	21,248	SH		SOLE		21,248	0	0
JACK HENRY AND ASSOCIATES INC	COM	426281101	1,948	11,982	SH		DFND		0	0	11,982
JACK HENRY AND ASSOCIATES INC	COM	426281101	4,263	26,219	SH		DFND	4	0	0	26,219
JOHNSON AND JOHNSON	COM	478160104	290	1,951	SH		SOLE		1,951	0	0
JPMORGAN CHASE	COM	46625H100	3,673	38,157	SH		SOLE		38,035	0	122
KENNEDY-WILSON HOLDINGS INC	COM	489398107	18,382	1,266,004	SH		SOLE		1,215,334	0	50,670
KENNEDY-WILSON HOLDINGS INC	COM	489398107	1,673	115,187	SH		DFND		0	0	115,187
KENNEDY-WILSON HOLDINGS INC	COM	489398107	3,615	248,968	SH		DFND	4	0	0	248,968
LAKELAND FINANCIAL CORPORATION	COM	511656100	16,395	397,934	SH		SOLE		379,816	0	18,118
LAMB WESTON HLDGS	COM	513272104	3,629	54,756	SH		SOLE		54,756	0	0
LAMB WESTON HLDGS	COM	513272104	1,885	28,451	SH		DFND		0	0	28,451
LAMB WESTON HLDGS	COM	513272104	4,086	61,664	SH		DFND	4	0	0	61,664
LANDSTAR SYSTEM INC	COM	515098101	19,814	157,895	SH		SOLE		151,285	0	6,610
LANDSTAR SYSTEM INC	COM	515098101	1,638	13,056	SH		DFND		0	0	13,056
LANDSTAR SYSTEM INC	COM	515098101	3,521	28,056	SH		DFND	4	0	0	28,056
LAZARD LTD-CL A	COM	G54050102	249	7,522	SH		SOLE		7,522	0	0
LEMAITRE VASCULAR INC	COM	525558201	22,738	698,979	SH		SOLE		666,274	0	32,705
LILLY ELI AND COMPANY	COM	532457108	205	1,382	SH		SOLE		1,382	0	0
LITTELFUSE INC	COM	537008104	24,573	138,564	SH		SOLE		132,967	0	5,597
LITTELFUSE INC	COM	537008104	1,799	10,142	SH		DFND		0	0	10,142
LITTELFUSE INC	COM	537008104	3,812	21,498	SH		DFND	4	0	0	21,498
LOCKHEED MARTIN	COM	539830109	4,657	12,149	SH		SOLE		12,114	0	35
LUMINEX CORP	COM	55027E102	16,650	634,268	SH		SOLE		609,390	0	24,878
LUMINEX CORP	COM	55027E102	1,582	60,258	SH		DFND		0	0	60,258
LUMINEX CORP	COM	55027E102	3,433	130,790	SH		DFND	4	0	0	130,790
MANTECH INTERNATIONAL CORPORAT	COM	564563104	23,172	336,405	SH		SOLE		322,684	0	13,721
MANTECH INTERNATIONAL CORPORAT	COM	564563104	1,899	27,569	SH		DFND		0	0	27,569
MANTECH INTERNATIONAL CORPORAT	COM	564563104	4,109	59,661	SH		DFND	4	0	0	59,661
MARKETAXESS HOLDINGS	COM	57060D108	9,750	20,245	SH		SOLE		20,203	0	42
MARKETAXESS HOLDINGS	COM	57060D108	2,115	4,391	SH		DFND		0	0	4,391
MARKETAXESS HOLDINGS	COM	57060D108	4,747	9,857	SH		DFND	4	0	0	9,857
MATERION CORPORATION	COM	576690101	2,594	49,860	SH		SOLE		47,570	0	2,290
MAXIMUS INC	COM	577933104	20,718	302,845	SH		SOLE		290,762	0	12,083
MAXIMUS INC	COM	577933104	1,816	26,551	SH		DFND		0	0	26,551
MAXIMUS INC	COM	577933104	3,926	57,382	SH		DFND	4	0	0	57,382
MCCORMICK	COM	579780206	763	3,931	SH		SOLE		3,931	0	0
MCDONALDS	COM	580135101	203	925	SH		SOLE		925	0	0
MEDTRONIC PLC	COM	G5960L103	4,125	39,692	SH		SOLE		39,580	0	112
MGP INGREDIENTS INC	COM	55303J106	18,234	458,820	SH		SOLE		437,487	0	21,333
MICROSOFT	COM	594918104	3,288	15,634	SH		SOLE		15,531	0	103
MONRO MUFFLER BRAKE INC	COM	610236101	14,946	368,389	SH		SOLE		353,739	0	14,650
MONRO MUFFLER BRAKE INC	COM	610236101	1,183	29,165	SH		DFND		0	0	29,165
MONRO MUFFLER BRAKE INC	COM	610236101	2,549	62,828	SH		DFND	4	0	0	62,828
MORNINGSTAR INC	COM	617700109	24,875	154,875	SH		SOLE		148,393	0	6,482
MORNINGSTAR INC	COM	617700109	1,408	8,765	SH		DFND		0	0	8,765
MORNINGSTAR INC	COM	617700109	3,023	18,825	SH		DFND	4	0	0	18,825
MOTOROLA SOLUTIONS INC	COM	620076307	5,401	34,442	SH		SOLE		34,354	0	88
MSC INDL DIRECT	COM	553530106	22,661	358,112	SH		SOLE		344,205	0	13,907
MSC INDL DIRECT	COM	553530106	1,785	28,205	SH		DFND		0	0	28,205
MSC INDL DIRECT	COM	553530106	3,773	59,621	SH		DFND	4	0	0	59,621
MSCI INC	COM	55354G100	1,076	3,017	SH		SOLE		3,017	0	0
NEXPOINT RESIDENTIAL TRUST	COM	65341D102	21,445	483,530	SH		SOLE		464,163	0	19,367
NEXPOINT RESIDENTIAL TRUST	COM	65341D102	2,082	46,945	SH		DFND		0	0	46,945
NEXPOINT RESIDENTIAL TRUST	COM	65341D102	4,449	100,315	SH		DFND	4	0	0	100,315
NEXSTAR MEDIA GROUP INC	COM	65336K103	23,116	257,039	SH		SOLE		247,312	0	9,727
NEXSTAR MEDIA GROUP INC	COM	65336K103	2,032	22,592	SH		DFND		0	0	22,592
NEXSTAR MEDIA GROUP INC	COM	65336K103	4,352	48,392	SH		DFND	4	0	0	48,392
NEXTERA ENERGY	COM	65339F101	822	2,962	SH		SOLE		2,962	0	0
NORDSON CORP	COM	655663102	3,202	16,692	SH		SOLE		16,692	0	0
NORDSON CORP	COM	655663102	1,762	9,188	SH		DFND		0	0	9,188
NORDSON CORP	COM	655663102	3,864	20,142	SH		DFND	4	0	0	20,142
PHILLIPS 66	COM	718546104	588	11,343	SH		SOLE		11,163	0	180
POOL CORP	COM	73278L105	16,297	48,716	SH		SOLE		47,165	0	1,551
POOL CORP	COM	73278L105	2,891	8,641	SH		DFND		0	0	8,641
POOL CORP	COM	73278L105	6,281	18,774	SH		DFND	4	0	0	18,774
POWER INTEGRATIONS INC	COM	739276103	25,127	453,557	SH		SOLE		435,424	0	18,133
POWER INTEGRATIONS INC	COM	739276103	2,102	37,950	SH		DFND		0	0	37,950
POWER INTEGRATIONS INC	COM	739276103	4,571	82,502	SH		DFND	4	0	0	82,502
PROSPERITY BANCSHARES	COM	743606105	3,287	63,425	SH		SOLE		63,425	0	0
PROSPERITY BANCSHARES	COM	743606105	1,824	35,198	SH		DFND		0	0	35,198
PROSPERITY BANCSHARES	COM	743606105	3,957	76,346	SH		DFND	4	0	0	76,346
QTS REALTY TRUST INC CLASS A	COM	74736A103	24,221	384,338	SH		SOLE		368,280	0	16,058
QTS REALTY TRUST INC CLASS A	COM	74736A103	1,659	26,328	SH		DFND		0	0	26,328
QTS REALTY TRUST INC CLASS A	COM	74736A103	3,599	57,110	SH		DFND	4	0	0	57,110
QUAKER CHEMICAL	COM	747316107	22,802	126,883	SH		SOLE		121,926	0	4,957
QUAKER CHEMICAL	COM	747316107	2,150	11,964	SH		DFND		0	0	11,964
QUAKER CHEMICAL	COM	747316107	4,608	25,642	SH		DFND	4	0	0	25,642
QUEST DIAGNOSTICS	COM	74834L100	8,152	71,207	SH		SOLE		71,107	0	100
QUEST DIAGNOSTICS	COM	74834L100	2,087	18,229	SH		DFND		0	0	18,229
QUEST DIAGNOSTICS	COM	74834L100	4,520	39,478	SH		DFND	4	0	0	39,478
RESMED INC	COM	761152107	5,200	30,332	SH		SOLE		30,332	0	0
RESMED INC	COM	761152107	2,534	14,782	SH		DFND		0	0	14,782
RESMED INC	COM	761152107	5,726	33,399	SH		DFND	4	0	0	33,399
SHERWIN WILLIAMS	COM	824348106	5,350	7,678	SH		SOLE		7,645	0	33
SHOE CARNIVAL INC	COM	824889109	12,830	382,059	SH		SOLE		364,150	0	17,909
SHUTTERSTOCK INC	COM	825690100	6,134	117,866	SH		SOLE		112,465	0	5,401
SIRIUS XM HOLDINGS	COM	82968B103	694	129,414	SH		SOLE		129,414	0	0
SNAP-ON INC	COM	833034101	3,135	21,308	SH		SOLE		21,308	0	0
SNAP-ON INC	COM	833034101	1,823	12,389	SH		DFND		0	0	12,389
SNAP-ON INC	COM	833034101	3,904	26,534	SH		DFND	4	0	0	26,534
STANDEX INTERNATIONAL CORPORAT	COM	854231107	20,458	345,576	SH		SOLE		329,789	0	15,787
STARBUCKS	COM	855244109	5,231	60,877	SH		SOLE		60,676	0	201
STERIS CORP	COM	G8473T100	4,848	27,518	SH		SOLE		27,518	0	0
STERIS CORP	COM	G8473T100	2,613	14,832	SH		DFND		0	0	14,832
STERIS CORP	COM	G8473T100	5,767	32,730	SH		DFND	4	0	0	32,730
STRYKER CORP	COM	863667101	2,724	13,071	SH		SOLE		13,071	0	0
TETRA TECH	COM	88162G103	36,529	382,500	SH		SOLE		367,860	0	14,640
TETRA TECH	COM	88162G103	2,882	30,175	SH		DFND		0	0	30,175
TETRA TECH	COM	88162G103	6,213	65,061	SH		DFND	4	0	0	65,061
TEXAS INSTRUMENTS	COM	882508104	1,745	12,221	SH		SOLE		12,221	0	0
THE ENSIGN GROUP	COM	29358P101	41,790	732,391	SH		SOLE		703,077	0	29,314
THE ENSIGN GROUP	COM	29358P101	3,185	55,810	SH		DFND		0	0	55,810
THE ENSIGN GROUP	COM	29358P101	6,846	119,972	SH		DFND	4	0	0	119,972
TORO CO	COM	891092108	3,609	42,989	SH		SOLE		42,989	0	0
TORO CO	COM	891092108	2,091	24,913	SH		DFND		0	0	24,913
TORO CO	COM	891092108	4,414	52,573	SH		DFND	4	0	0	52,573
TRACTOR SUPPLY CO	COM	892356106	5,538	38,637	SH		SOLE		38,637	0	0
TRACTOR SUPPLY CO	COM	892356106	2,542	17,733	SH		DFND		0	0	17,733
TRACTOR SUPPLY CO	COM	892356106	5,687	39,678	SH		DFND	4	0	0	39,678
TRUIST FINANCIAL	COM	89832Q109	800	21,024	SH		SOLE		21,024	0	0
UGI CORP	COM	902681105	3,613	109,542	SH		SOLE		109,542	0	0
UGI CORP	COM	902681105	1,978	59,967	SH		DFND		0	0	59,967
UGI CORP	COM	902681105	4,306	130,550	SH		DFND	4	0	0	130,550
UNIFIRST CORPORATION	COM	904708104	24,328	128,466	SH		SOLE		123,295	0	5,171
UNIFIRST CORPORATION	COM	904708104	2,022	10,677	SH		DFND		0	0	10,677
UNIFIRST CORPORATION	COM	904708104	4,385	23,158	SH		DFND	4	0	0	23,158
UNION PACIFIC	COM	907818108	5,637	28,634	SH		SOLE		28,546	0	88
UNITEDHEALTH GROUP INC	COM	91324P102	5,968	19,141	SH		SOLE		19,073	0	68
UNIVERSAL DISPLAY CORPORATION	COM	91347P105	25,953	143,594	SH		SOLE		138,413	0	5,181
UNIVERSAL DISPLAY CORPORATION	COM	91347P105	2,206	12,208	SH		DFND		0	0	12,208
UNIVERSAL DISPLAY CORPORATION	COM	91347P105	4,761	26,342	SH		DFND	4	0	0	26,342
VERISK ANALYTICS	COM	92345Y106	203	1,096	SH		SOLE		1,096	0	0
VISA	COM	92826C839	7,686	38,434	SH		SOLE		38,301	0	133
WASTE CONNECTIONS INC	COM	94106B101	5,901	56,847	SH		SOLE		56,643	0	204
XILINX	COM	983919101	1,874	17,976	SH		SOLE		17,976	0	0
ZOETIS	COM	98978V103	5,391	32,599	SH		SOLE		32,484	0	115