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
ASML HOLDINGS NV-NY REG SHS	ADR	N07059210	2,911	3	SH		SOLE		3	0	0
ASSA ABLOY AB - UNSP ADR	ADR	045387107	2,499	174	SH		SOLE		174	0	0
BAE SYSTEMS PLC-SPON ADR	ADR	05523R107	2,774	40	SH		SOLE		40	0	0
BRENNTAG SE-UNSP ADR	ADR	107180101	2,993	178	SH		SOLE		178	0	0
CRESCENT POINT ENERGY CORP	ADR	22576C101	1,613	197	SH		SOLE		197	0	0
CRODA INTERNATIONAL PLC ADR	ADR	227047305	2,262	73	SH		SOLE		73	0	0
DBS GROUP HOLDINGS - SPON ADR	ADR	23304Y100	3,091	29	SH		SOLE		29	0	0
DNB ASA-SPONSOR ADR	ADR	23341C103	2,799	140	SH		SOLE		140	0	0
IBERDROLA SA-SPONSORED ADR	ADR	450737101	3,240	65	SH		SOLE		65	0	0
LONZA GROUP AG - UNSPONS ADR	ADR	54338V101	3,175	53	SH		SOLE		53	0	0
LVMH MOET HENNESSY-UNSP ADR	ADR	502441306	4,164	23	SH		SOLE		23	0	0
MTU AERO ENGINES	ADR	62473G102	2,287	18	SH		SOLE		18	0	0
MURATA MANUFACTURING CO LTD UN	ADR	626425102	2,668	286	SH		SOLE		286	0	0
NIDEC CORPORATION-SPON ADR	ADR	654090109	10,239	996	SH		SOLE		286	0	710
NITORI HLDGS CO LTD-UNSPON ADR	ADR	65479L108	11,575	764	SH		SOLE		219	0	545
RECRUIT HOLDINGS CO LTD - ADR	ADR	75629J101	3,924	448	SH		SOLE		448	0	0
RENTOKIL INITIAL PLC - SP ADR	ADR	760125104	3,196	106	SH		SOLE		106	0	0
ROCHE HOLDINGS LTD-SPONS ADR	ADR	771195104	2,171	68	SH		SOLE		68	0	0
SHIMANO INC - UNSPON ADR	ADR	82455C101	10,280	689	SH		SOLE		194	0	495
SHIN-ETSU CHEM-UNSPON ADR	ADR	824551105	3,565	163	SH		SOLE		163	0	0
SIKA AG-BR-ADR	ADR	82674R103	2,161	72	SH		SOLE		72	0	0
SVENSKA HANDELSB-A-UNSP ADR	ADR	86959C103	2,980	596	SH		SOLE		596	0	0
TDK CORP-SPONSORED ADR	ADR	872351408	9,877	201	SH		SOLE		50	0	151
TECHTRONIC INDUSTRIES-SP ADR	ADR	87873R101	11,489	169	SH		SOLE		42	0	127
TERNA SPA-UNSPONSORED ADR	ADR	88088L103	2,133	86	SH		SOLE		86	0	0
THALES SA - UNSPON ADR	ADR	883219206	3,311	97	SH		SOLE		97	0	0
WOLTERS KLUWER NV-SPONS ADR	ADR	977874205	2,825	18	SH		SOLE		18	0	0
3M CO	COM	88579Y101	159,105	1,500	SH		SOLE		0	0	1,500
A10 NETWORKS INC	COM	002121101	27,887	2,037	SH		SOLE		2,037	0	0
AARON'S CO INC/THE	COM	00258W108	20,775	2,770	SH		SOLE		2,770	0	0
ABBOTT LABORATORIES	COM	002824100	141,848	1,248	SH		SOLE		0	0	1,248
ABBVIE INC	COM	00287Y109	240,918	1,323	SH		SOLE		0	0	1,323
ABM INDUSTRIES INC	COM	000957100	56,843	1,274	SH		DFND	5	0	1,274	0
ACCENTURE PLC	COM	G1151C101	5,068,143	14,622	SH		SOLE		13,621	0	1,001
ACCENTURE PLC	COM	G1151C101	7,200,130	20,773	SH		DFND	4	0	20,773	0
ADVANSIX INC	COM	00773T101	26,312	920	SH		SOLE		920	0	0
AGILENT TECHNOLOGIES INC	COM	00846U101	4,220	29	SH		SOLE		29	0	0
AIR LEASE CORP	COM	00912X302	78,671,101	1,529,376	SH		SOLE		1,267,136	0	262,240
AIR LEASE CORP	COM	00912X302	10,131,082	196,949	SH		DFND	5	0	196,949	0
AIR LEASE CORP	COM	00912X302	4,381,196	85,171	SH		DFND	4	0	85,171	0
AIR PRODUCTS & CHEMICALS INC	COM	009158106	167	1	SH		SOLE		0	0	1
ALBEMARLE	COM	012653101	243,587	1,849	SH		SOLE		1,797	0	52
ALEXANDRIA REAL EST REIT	COM	015271109	1,362,448	10,569	SH		SOLE		9,172	0	1,397
ALLISON TRANSMISSION HOLDING	COM	01973R101	70,161,445	864,483	SH		SOLE		701,654	0	162,830
ALLISON TRANSMISSION HOLDING	COM	01973R101	7,856,786	96,806	SH		DFND	5	0	96,806	0
ALLISON TRANSMISSION HOLDING	COM	01973R101	3,367,328	41,490	SH		DFND	4	0	41,490	0
ALLSTATE CORP	COM	020002101	1,212,236	7,007	SH		SOLE		5,858	0	1,149
AMDOCS LTD	COM	G02602103	4,699	52	SH		SOLE		52	0	0
AMERICAN TOWER	COM	03027X100	284,134	1,438	SH		SOLE		959	0	479
AMERICAN WATER WORKS CO INC	COM	030420103	1,131,665	9,260	SH		SOLE		7,620	0	1,640
AMERIPRISE FINANCIAL INC	COM	03076C106	6,715,346	15,316	SH		SOLE		13,739	0	1,577
AMERIPRISE FINANCIAL INC	COM	03076C106	12,176,794	27,773	SH		DFND	4	0	27,773	0
AMGEN INC	COM	031162100	116,856	411	SH		SOLE		411	0	0
AMPHENOL CORP CLASS A	COM	032095101	1,408,762	12,213	SH		SOLE		10,642	0	1,571
APPLE INC	COM	037833100	7,342,534	42,819	SH		SOLE		37,596	0	5,222
APPLE INC	COM	037833100	12,225,152	71,292	SH		DFND	4	0	71,292	0
APPLIED MATERIALS INC	COM	038222105	5,362	26	SH		SOLE		26	0	0
ARKO CORP	COM	041242108	21,250	3,728	SH		SOLE		3,728	0	0
ASTEC INDS INC	COM	046224101	27,931	639	SH		SOLE		639	0	0
AT&T	COM	00206R102	9,715	552	SH		SOLE		552	0	0
ATLAS ENERGY SOLUTIONS INC	COM	642045108	15,430,731	682,172	SH		SOLE		529,128	0	153,044
ATN INTERNATIONAL INC	COM	00215F107	27,346	868	SH		SOLE		868	0	0
ATRION CORP	COM	049904105	40,329	87	SH		SOLE		87	0	0
AUTO DATA PROCESSING	COM	053015103	4,947,719	19,811	SH		SOLE		17,571	0	2,240
AUTO DATA PROCESSING	COM	053015103	8,715,676	34,899	SH		DFND	4	0	34,899	0
BADGER METER INC	COM	056525108	162	1	SH		DFND	5	0	1	0
BANK OZK	COM	06417N103	63,941,616	1,406,547	SH		SOLE		1,155,264	0	251,283
BANK OZK	COM	06417N103	9,295,765	204,482	SH		DFND	5	0	204,482	0
BANK OZK	COM	06417N103	3,897,149	85,727	SH		DFND	4	0	85,727	0
BANK7 CORP	COM	06652N107	34,883	1,237	SH		SOLE		1,237	0	0
BEST BUY CO INC	COM	086516101	3,609	44	SH		SOLE		44	0	0
BLACKROCK INC	COM	09247X101	254,278	305	SH		SOLE		183	0	122
BOOZ ALLEN HAMILTON HOLDINGS	COM	099502106	24,916,040	167,853	SH		SOLE		152,206	0	15,647
BOOZ ALLEN HAMILTON HOLDINGS	COM	099502106	10,225,600	68,887	SH		DFND	5	0	68,887	0
BOOZ ALLEN HAMILTON HOLDINGS	COM	099502106	4,365,324	29,408	SH		DFND	4	0	29,408	0
BROADCOM INC	COM	11135F101	10,946,004	8,259	SH		SOLE		7,305	0	954
BROADCOM INC	COM	11135F101	21,145,591	15,954	SH		DFND	4	0	15,954	0
BROADRIDGE FINANCIAL SOLUTIO	COM	11133T103	24,986,948	121,971	SH		SOLE		109,810	0	12,160
BROADRIDGE FINANCIAL SOLUTIO	COM	11133T103	10,007,011	48,848	SH		DFND	5	0	48,848	0
BROADRIDGE FINANCIAL SOLUTIO	COM	11133T103	4,290,998	20,946	SH		DFND	4	0	20,946	0
BROOKFIELD ASSET MANAGEMENT IN	COM	113004105	136,859	3,257	SH		SOLE		3,257	0	0
BROOKFIELD INFRASTRUCTURE-A	COM	11275Q107	63,065,861	1,749,885	SH		SOLE		1,426,095	0	323,790
BROOKFIELD INFRASTRUCTURE-A	COM	11275Q107	7,805,554	216,580	SH		DFND	5	0	216,580	0
BROOKFIELD INFRASTRUCTURE-A	COM	11275Q107	3,559,527	98,766	SH		DFND	4	0	98,766	0
BRUNSWICK CORP	COM	117043109	68,361,190	708,259	SH		SOLE		581,704	0	126,555
BRUNSWICK CORP	COM	117043109	9,468,348	98,097	SH		DFND	5	0	98,097	0
BRUNSWICK CORP	COM	117043109	4,123,720	42,724	SH		DFND	4	0	42,724	0
BWX TECHNOLOGIES	COM	05605H100	71,647,048	698,178	SH		SOLE		564,398	0	133,780
BWX TECHNOLOGIES	COM	05605H100	7,213,043	70,289	SH		DFND	5	0	70,289	0
BWX TECHNOLOGIES	COM	05605H100	3,088,965	30,101	SH		DFND	4	0	30,101	0
C S G SYSTEMS INTL	COM	126349109	28,347	550	SH		SOLE		550	0	0
CABLE ONE INC	COM	12685J105	19,588,235	46,294	SH		SOLE		35,943	0	10,351
CABLE ONE INC	COM	12685J105	989	2	SH		DFND	5	0	2	0
CABOT CORP	COM	127055101	44,055,802	477,829	SH		SOLE		371,374	0	106,455
CANADIAN NATURAL RESOURCES	COM	136385101	4,732	62	SH		SOLE		62	0	0
CARLISLE COS INC	COM	142339100	26,807,230	68,412	SH		SOLE		61,990	0	6,422
CARLISLE COS INC	COM	142339100	10,538,972	26,895	SH		DFND	5	0	26,895	0
CARLISLE COS INC	COM	142339100	4,674,379	11,929	SH		DFND	4	0	11,929	0
CASEY'S GENERAL STORES INC	COM	147528103	79,656,289	250,138	SH		SOLE		207,454	0	42,683
CASEY'S GENERAL STORES INC	COM	147528103	10,801,069	33,918	SH		DFND	5	0	33,918	0
CASEY'S GENERAL STORES INC	COM	147528103	15,994,151	50,225	SH		DFND	4	0	50,225	0
CASS INFORMATION SYS	COM	14808P109	29,287	608	SH		SOLE		608	0	0
CDW CORP/DE	COM	12514G108	6,285,006	24,572	SH		SOLE		22,317	0	2,255
CDW CORP/DE	COM	12514G108	10,754,270	42,045	SH		DFND	4	0	42,045	0
CHAMPIONX CORP	COM	15872M104	6,895,115	192,118	SH		SOLE		174,730	0	17,388
CHAMPIONX CORP	COM	15872M104	2,751,987	76,678	SH		DFND	5	0	76,678	0
CHAMPIONX CORP	COM	15872M104	1,278,151	35,613	SH		DFND	4	0	35,613	0
CHEMED CORP	COM	16359R103	69,988,912	109,029	SH		SOLE		88,861	0	20,168
CHEMED CORP	COM	16359R103	8,594,493	13,389	SH		DFND	5	0	13,389	0
CHEMED CORP	COM	16359R103	3,650,656	5,687	SH		DFND	4	0	5,687	0
CHENIERE ENERGY	COM	16411R208	3,809,183	23,618	SH		SOLE		21,759	0	1,859
CHENIERE ENERGY	COM	16411R208	6,512,970	40,383	SH		DFND	4	0	40,383	0
CHESAPEAKE UTILITIES CORP	COM	165303108	48,917,396	455,894	SH		SOLE		373,014	0	82,879
CHESAPEAKE UTILITIES CORP	COM	165303108	5,963,420	55,577	SH		DFND	5	0	55,577	0
CHESAPEAKE UTILITIES CORP	COM	165303108	2,723,810	25,385	SH		DFND	4	0	25,385	0
CHORD ENERGY CORP	COM	674215207	66,530,509	373,264	SH		SOLE		300,805	0	72,459
CHORD ENERGY CORP	COM	674215207	7,412,973	41,590	SH		DFND	5	0	41,590	0
CHORD ENERGY CORP	COM	674215207	3,041,131	17,062	SH		DFND	4	0	17,062	0
CHUBB LTD	COM	H1467J104	37,056	143	SH		SOLE		104	0	39
CHURCH & DWIGHT	COM	171340102	264,217	2,533	SH		SOLE		1,333	0	1,200
CHURCHILL DOWNS	COM	171484108	20,553,344	166,088	SH		SOLE		150,591	0	15,497
CHURCHILL DOWNS	COM	171484108	8,019,721	64,806	SH		DFND	5	0	64,806	0
CHURCHILL DOWNS	COM	171484108	3,604,961	29,131	SH		DFND	4	0	29,131	0
CIVITAS RESOURCES INC	COM	17888H103	67,447,405	888,518	SH		SOLE		722,625	0	165,893
CIVITAS RESOURCES INC	COM	17888H103	7,889,690	103,935	SH		DFND	5	0	103,935	0
CIVITAS RESOURCES INC	COM	17888H103	3,401,148	44,805	SH		DFND	4	0	44,805	0
COGENT COMMUNICATIONS	COM	19239V302	52,747,883	807,407	SH		SOLE		661,078	0	146,329
COGENT COMMUNICATIONS	COM	19239V302	7,083,985	108,434	SH		DFND	5	0	108,434	0
COGENT COMMUNICATIONS	COM	19239V302	3,035,885	46,470	SH		DFND	4	0	46,470	0
COGNEX CORP	COM	192422103	55,938,175	1,318,675	SH		SOLE		1,088,911	0	229,763
COGNEX CORP	COM	192422103	8,099,815	190,943	SH		DFND	5	0	190,943	0
COGNEX CORP	COM	192422103	3,660,040	86,281	SH		DFND	4	0	86,281	0
COGNIZANT TECH SOLUTIONS-A	COM	192446102	4,251	58	SH		SOLE		58	0	0
COHEN & STEERS INC	COM	19247A100	68,512,146	891,041	SH		SOLE		733,017	0	158,024
COHEN & STEERS INC	COM	19247A100	9,785,391	127,265	SH		DFND	5	0	127,265	0
COHEN & STEERS INC	COM	19247A100	4,298,382	55,903	SH		DFND	4	0	55,903	0
COMCAST CORP	COM	20030N101	3,121	72	SH		SOLE		72	0	0
CONCENTRIX CORP	COM	20602D101	49,499,654	747,503	SH		SOLE		614,744	0	132,759
CONCENTRIX CORP	COM	20602D101	5,290,220	79,889	SH		DFND	5	0	79,889	0
CONCENTRIX CORP	COM	20602D101	3,150,748	47,580	SH		DFND	4	0	47,580	0
CONNECTONE BANCORP INC	COM	20786W107	27,670	1,419	SH		SOLE		1,419	0	0
CONSTELLATION BRANDS INC-A	COM	21036P108	5,517,047	20,301	SH		SOLE		18,700	0	1,601
CONSTELLATION BRANDS INC-A	COM	21036P108	9,980,658	36,726	SH		DFND	4	0	36,726	0
CORTEVA INC	COM	22052L104	997,114	17,290	SH		SOLE		15,129	0	2,161
COSTCO WHOLESALE	COM	22160K105	6,189,851	8,449	SH		SOLE		7,447	0	1,002
COSTCO WHOLESALE	COM	22160K105	10,470,748	14,292	SH		DFND	4	0	14,292	0
COTERRA ENERGY	COM	127097103	4,991	179	SH		SOLE		179	0	0
COTERRA ENERGY	COM	127097103	4,266	153	SH		DFND	5	0	153	0
CRA INTERNATIONAL INC	COM	12618T105	55,680,727	372,247	SH		SOLE		289,378	0	82,869
CTO REALTY GROWTH INC	COM	22948Q101	29,544	1,743	SH		SOLE		1,743	0	0
CUBESMART	COM	229663109	15,703,369	347,266	SH		SOLE		314,642	0	32,624
CUBESMART	COM	229663109	6,965,031	154,025	SH		DFND	5	0	154,025	0
CUBESMART	COM	229663109	2,998,357	66,306	SH		DFND	4	0	66,306	0
DIAGEO PLC ADR	COM	25243Q205	3,272	22	SH		SOLE		22	0	0
DIAMONDBACK ENERGY	COM	25278X109	7,362,405	37,152	SH		SOLE		34,341	0	2,811
DIAMONDBACK ENERGY	COM	25278X109	10,503	53	SH		DFND	5	0	53	0
DIAMONDBACK ENERGY	COM	25278X109	13,271,643	66,971	SH		DFND	4	0	66,971	0
DICKS SPORTING GOODS INC	COM	253393102	27,926,937	124,197	SH		SOLE		113,079	0	11,118
DICKS SPORTING GOODS INC	COM	253393102	11,627,415	51,710	SH		DFND	5	0	51,710	0
DICKS SPORTING GOODS INC	COM	253393102	5,115,340	22,749	SH		DFND	4	0	22,749	0
DISCOVER FINANCIAL SERVICES	COM	254709108	1,198,261	9,141	SH		SOLE		7,996	0	1,145
DISCOVER FINANCIAL SERVICES	COM	254709108	655	5	SH		DFND	5	0	5	0
DOMINO'S PIZZA INC	COM	25754A201	24,788,813	49,889	SH		SOLE		45,220	0	4,669
DOMINO'S PIZZA INC	COM	25754A201	9,790,762	19,704	SH		DFND	5	0	19,704	0
DOMINO'S PIZZA INC	COM	25754A201	4,273,168	8,600	SH		DFND	4	0	8,600	0
EASTGROUP PROPERTIES INC	COM	277276101	209,432	1,165	SH		SOLE		1,165	0	0
ELANCO ANIMAL HEALTH INC	COM	28414H103	16,003	983	SH		SOLE		0	0	983
ELEMENT SOLUTIONS INC	COM	28618M106	10,621,592	425,204	SH		SOLE		330,225	0	94,979
ELEMENT SOLUTIONS INC	COM	28618M106	161,848	6,479	SH		DFND	5	0	6,479	0
EMBECTA CORP	COM	29082K105	27,469	2,070	SH		SOLE		2,070	0	0
ENCOMPASS HEALTH	COM	29261A100	87,654,301	1,061,447	SH		SOLE		867,801	0	193,646
ENCOMPASS HEALTH	COM	29261A100	11,387,105	137,892	SH		DFND	5	0	137,892	0
ENCOMPASS HEALTH	COM	29261A100	4,788,236	57,983	SH		DFND	4	0	57,983	0
ENSIGN GROUP	COM	29358P101	110,124,533	885,103	SH		SOLE		720,779	0	164,324
ENSIGN GROUP	COM	29358P101	12,717,203	102,212	SH		DFND	5	0	102,212	0
ENSIGN GROUP	COM	29358P101	5,471,121	43,973	SH		DFND	4	0	43,973	0
ENTEGRIS INC	COM	29362U104	8,306	59	SH		DFND	5	0	59	0
EQUINIX INC	COM	29444U700	4,937,808	5,983	SH		SOLE		5,442	0	541
EQUINIX INC	COM	29444U700	9,875,073	11,965	SH		DFND	4	0	11,965	0
EQUITY LIFESTYLE PROPERTIES	COM	29472R108	1,062,874	16,504	SH		SOLE		14,266	0	2,238
ESQUIRE FINANCIAL HOLDINGS I	COM	29667J101	31,283	659	SH		SOLE		659	0	0
EXP WORLD HOLDING	COM	30212W100	34,613,244	3,350,750	SH		SOLE		2,747,631	0	603,119
EXP WORLD HOLDING	COM	30212W100	4,133,184	400,115	SH		DFND	5	0	400,115	0
EXP WORLD HOLDING	COM	30212W100	1,973,144	191,011	SH		DFND	4	0	191,011	0
EXXON MOBIL CORP	COM	30231G102	432,994	3,725	SH		SOLE		125	0	3,600
FACTSET RESEARCH SYSTEMS INC	COM	303075105	21,456,607	47,221	SH		SOLE		42,826	0	4,394
FACTSET RESEARCH SYSTEMS INC	COM	303075105	7,596,189	16,717	SH		DFND	5	0	16,717	0
FACTSET RESEARCH SYSTEMS INC	COM	303075105	9,620,345	21,172	SH		DFND	4	0	21,172	0
FAT BRANDS INC	COM	30258N105	26,281	3,458	SH		SOLE		3,458	0	0
FEDERAL AGRIC MTG CORP-CL C	COM	313148306	56,852,160	288,766	SH		SOLE		224,304	0	64,462
FORTIS INC	COM	349553107	2,252	57	SH		SOLE		57	0	0
FS BANCORP INC	COM	30263Y104	32,905	948	SH		SOLE		948	0	0
GCM GROSVENOR INC CL A	COM	36831e108	33,211	3,438	SH		SOLE		3,438	0	0
GENERAL ELECTRIC	COM	369604301	44,958	256	SH		SOLE		0	0	256
GFL ENVIRONMENTAL	COM	36168Q104	18,890,889	547,562	SH		SOLE		496,517	0	51,045
GFL ENVIRONMENTAL	COM	36168Q104	8,437,098	244,554	SH		DFND	5	0	244,554	0
GFL ENVIRONMENTAL	COM	36168Q104	3,608,424	104,592	SH		DFND	4	0	104,592	0
GLOBAL INDUSTRIAL COMPANY	COM	37892E102	38,556	861	SH		SOLE		861	0	0
GLOBE LIFE INC	COM	37959E102	14,697,182	126,297	SH		SOLE		114,332	0	11,965
GLOBE LIFE INC	COM	37959E102	6,727,773	57,814	SH		DFND	5	0	57,814	0
GLOBE LIFE INC	COM	37959E102	2,841,057	24,414	SH		DFND	4	0	24,414	0
GORMAN RUPP CO	COM	383082104	39,866	1,008	SH		SOLE		1,008	0	0
HACKETT GROUP INC	COM	404609109	27,799	1,144	SH		SOLE		1,144	0	0
HAMILTON LANE	COM	407497106	81,616,698	723,809	SH		SOLE		590,116	0	133,693
HAMILTON LANE	COM	407497106	10,036,642	89,009	SH		DFND	5	0	89,009	0
HAMILTON LANE	COM	407497106	4,332,690	38,424	SH		DFND	4	0	38,424	0
HEALTHSTREAM INC	COM	42222N103	39,190	1,470	SH		SOLE		1,470	0	0
HEXCEL CORP	COM	428291108	50,066,209	687,251	SH		SOLE		565,200	0	122,050
HEXCEL CORP	COM	428291108	7,047,756	96,743	SH		DFND	5	0	96,743	0
HEXCEL CORP	COM	428291108	3,152,948	43,280	SH		DFND	4	0	43,280	0
HINGHAM INSTN SVGS	COM	433323102	29,658	170	SH		SOLE		170	0	0
HOME BANCSHARES INC	COM	436893200	66,326,491	2,699,491	SH		SOLE		2,203,991	0	495,500
HOME BANCSHARES INC	COM	436893200	8,541,563	347,642	SH		DFND	5	0	347,642	0
HOME BANCSHARES INC	COM	436893200	3,776,335	153,697	SH		DFND	4	0	153,697	0
HOME DEPOT INC	COM	437076102	5,562,855	14,502	SH		SOLE		12,988	0	1,514
HOME DEPOT INC	COM	437076102	9,753,414	25,426	SH		DFND	4	0	25,426	0
HOOKER FURNISHINGS CORP	COM	439038100	33,086	1,378	SH		SOLE		1,378	0	0
HUMANA INC	COM	444859102	220,167	635	SH		SOLE		635	0	0
HUNT (JB) TRANSPRT SVCS INC	COM	445658107	1,120,968	5,626	SH		SOLE		4,897	0	729
HUNTINGTON INGALLS INDUSTRIE	COM	446413106	15,277,692	52,416	SH		SOLE		47,883	0	4,533
HUNTINGTON INGALLS INDUSTRIE	COM	446413106	6,305,686	21,634	SH		DFND	5	0	21,634	0
HUNTINGTON INGALLS INDUSTRIE	COM	446413106	2,708,922	9,294	SH		DFND	4	0	9,294	0
IMMERSION CORPORATION	COM	452521107	33,316	4,454	SH		SOLE		4,454	0	0
INFORMATION SVCS GP	COM	45675Y104	26,717	6,613	SH		SOLE		6,613	0	0
INSPERITY INC	COM	45778Q107	42,551,637	388,209	SH		SOLE		319,202	0	69,007
INSPERITY INC	COM	45778Q107	6,059,875	55,286	SH		DFND	5	0	55,286	0
INSPERITY INC	COM	45778Q107	2,660,783	24,275	SH		DFND	4	0	24,275	0
INTER PARFUMS INC	COM	458334109	75,449,696	536,970	SH		SOLE		438,391	0	98,580
INTER PARFUMS INC	COM	458334109	8,090,255	57,578	SH		DFND	5	0	57,578	0
INTER PARFUMS INC	COM	458334109	3,391,349	24,136	SH		DFND	4	0	24,136	0
INTUIT INC	COM	461202103	6,686,486	10,287	SH		SOLE		9,100	0	1,187
INTUIT INC	COM	461202103	11,989,900	18,446	SH		DFND	4	0	18,446	0
INVESTAR HOLDING CORP	COM	46134L105	32,507	1,987	SH		SOLE		1,987	0	0
IRADIMED CORP	COM	46266A109	18,394,375	418,149	SH		SOLE		324,604	0	93,545
ISHARES RUSSELL MIDCAP INDEX	COM	464287499	8,499,899	101,081	SH		DFND	5	0	101,081	0
ISHARES TR RUSSELL 2000 INDX	COM	464287655	82,227	391	SH		SOLE		391	0	0
ISHARES TRUST REG SHS S&P MIDC	COM	464287507	6,511	107	SH		DFND	5	0	107	0
JACK HENRY & ASSOCIATES INC	COM	426281101	19,625,916	112,968	SH		SOLE		102,429	0	10,539
JACK HENRY & ASSOCIATES INC	COM	426281101	7,823,827	45,034	SH		DFND	5	0	45,034	0
JACK HENRY & ASSOCIATES INC	COM	426281101	3,397,985	19,559	SH		DFND	4	0	19,559	0
JOHNSON & JOHNSON	COM	478160104	289,171	1,828	SH		SOLE		18	0	1,810
JPMORGAN CHASE	COM	46625H100	2,233,946	11,153	SH		SOLE		10,019	0	1,134
JPMORGAN CHASE	COM	46625H100	5,315,361	26,537	SH		DFND	4	0	26,537	0
KARAT PACKAGING INC	COM	48563L101	36,421	1,273	SH		SOLE		1,273	0	0
KFORCE INC	COM	493732101	37,716,553	534,835	SH		SOLE		415,400	0	119,435
KINSALE CAPITAL GROUP INC	COM	49714P108	88,058,935	167,814	SH		SOLE		139,628	0	28,186
KINSALE CAPITAL GROUP INC	COM	49714P108	12,382,999	23,598	SH		DFND	5	0	23,598	0
KINSALE CAPITAL GROUP INC	COM	49714P108	19,085,319	36,371	SH		DFND	4	0	36,371	0
KROGER CO	COM	501044101	3,942	69	SH		SOLE		69	0	0
KULICKE & SOFFA INDUSTRIES	COM	501242101	49,804,928	989,961	SH		SOLE		815,471	0	174,490
KULICKE & SOFFA INDUSTRIES	COM	501242101	7,294,359	144,988	SH		DFND	5	0	144,988	0
KULICKE & SOFFA INDUSTRIES	COM	501242101	3,161,380	62,838	SH		DFND	4	0	62,838	0
LAKELAND FINANCIAL CORP	COM	511656100	49,100,202	740,353	SH		SOLE		574,760	0	165,592
LANDSTAR SYSTEM INC	COM	515098101	52,484,933	272,281	SH		SOLE		223,055	0	49,227
LANDSTAR SYSTEM INC	COM	515098101	7,217,267	37,442	SH		DFND	5	0	37,442	0
LANDSTAR SYSTEM INC	COM	515098101	3,074,908	15,952	SH		DFND	4	0	15,952	0
LEMAITRE VASCULAR INC	COM	525558201	72,190,755	1,087,866	SH		SOLE		888,536	0	199,330
LEMAITRE VASCULAR INC	COM	525558201	9,533,050	143,657	SH		DFND	5	0	143,657	0
LEMAITRE VASCULAR INC	COM	525558201	3,939,793	59,370	SH		DFND	4	0	59,370	0
LILLY ELI & CO	COM	532457108	7,408,622	9,523	SH		SOLE		7,467	0	2,056
LILLY ELI & CO	COM	532457108	12,411,574	15,954	SH		DFND	4	0	15,954	0
LINDE PLC F	COM	G54950103	45,039	97	SH		SOLE		70	0	27
LITTELFUSE INC	COM	537008104	52,791,516	217,832	SH		SOLE		177,808	0	40,024
LITTELFUSE INC	COM	537008104	6,565,693	27,092	SH		DFND	5	0	27,092	0
LITTELFUSE INC	COM	537008104	2,924,922	12,069	SH		DFND	4	0	12,069	0
MAGIC SFTWR ENTERPRS F	COM	559166103	30,961	2,704	SH		SOLE		2,704	0	0
MATADOR RESOURCES CO	COM	576485205	21,576,659	323,149	SH		SOLE		294,037	0	29,112
MATADOR RESOURCES CO	COM	576485205	9,483,116	142,027	SH		DFND	5	0	142,027	0
MATADOR RESOURCES CO	COM	576485205	3,945,640	59,093	SH		DFND	4	0	59,093	0
MATERION CORP	COM	576690101	60,174,920	456,736	SH		SOLE		354,821	0	101,915
MCDONALDS CORP	COM	580135101	117,291	416	SH		SOLE		0	0	416
MCKESSON CORP	COM	58155Q103	4,832	9	SH		SOLE		9	0	0
MERCK & CO. INC.	COM	58933Y105	79,170	600	SH		SOLE		0	0	600
MICROCHIP TECHNOLOGY FORWARD S	COM	595017104	4,037	45	SH		SOLE		45	0	0
MICROSOFT CORP	COM	594918104	9,523,146	22,635	SH		SOLE		19,419	0	3,216
MICROSOFT CORP	COM	594918104	17,968,530	42,709	SH		DFND	4	0	42,709	0
MID-AMERICA APARTMENT COMM	COM	59522J103	3,026	23	SH		SOLE		23	0	0
MONOLITHIC POWER SYS INC	COM	609839105	4,220,913	6,231	SH		SOLE		5,615	0	616
MONOLITHIC POWER SYS INC	COM	609839105	6,529,651	9,639	SH		DFND	4	0	9,639	0
MORGAN STANLEY	COM	617446448	6,249,542	66,372	SH		SOLE		60,442	0	5,929
MORGAN STANLEY	COM	617446448	565	6	SH		DFND	5	0	6	0
MORGAN STANLEY	COM	617446448	12,449,176	132,213	SH		DFND	4	0	132,213	0
MORNINGSTAR INC	COM	617700109	20,118,984	65,243	SH		SOLE		59,412	0	5,831
MORNINGSTAR INC	COM	617700109	8,486,534	27,521	SH		DFND	5	0	27,521	0
MORNINGSTAR INC	COM	617700109	3,678,546	11,929	SH		DFND	4	0	11,929	0
MOTOROLA SOLUTIONS INC	COM	620076307	7,168,543	20,194	SH		SOLE		18,471	0	1,723
MOTOROLA SOLUTIONS INC	COM	620076307	12,918,787	36,393	SH		DFND	4	0	36,393	0
MSC INDUSTRIAL DIRECT CO-A	COM	553530106	485	5	SH		DFND	5	0	5	0
MSCI INC	COM	55354G100	6,077,928	10,845	SH		SOLE		9,863	0	981
MSCI INC	COM	55354G100	11,273,452	20,115	SH		DFND	4	0	20,115	0
NAPCO SECURITY TECHNOLOGIES	COM	630402105	6,467,326	161,039	SH		SOLE		125,353	0	35,686
NASDAQ OMX GROUP	COM	631103108	1,162,064	18,416	SH		SOLE		15,775	0	2,641
NATIONAL HEALTHCARE	COM	635906100	31,283	331	SH		SOLE		331	0	0
NESTLE	COM	641069406	2,867	27	SH		SOLE		27	0	0
NEXPOINT RESIDENTIAL	COM	65341D102	28,845,276	896,094	SH		SOLE		697,088	0	199,007
NEXPOINT RESIDENTIAL	COM	65341D102	4,646	144	SH		DFND	5	0	144	0
NEXSTAR MEDIA GROUP INC	COM	65336K103	59,265,229	343,985	SH		SOLE		283,815	0	60,170
NEXSTAR MEDIA GROUP INC	COM	65336K103	6,765,318	39,267	SH		DFND	5	0	39,267	0
NEXSTAR MEDIA GROUP INC	COM	65336K103	13,351,786	77,496	SH		DFND	4	0	77,496	0
NEXTERA ENERGY	COM	65339F101	4,734,615	74,083	SH		SOLE		66,672	0	7,410
NEXTERA ENERGY	COM	65339F101	8,326,578	130,286	SH		DFND	4	0	130,286	0
NORDSON CORP COM	COM	655663102	21,214,338	77,272	SH		SOLE		70,151	0	7,121
NORDSON CORP COM	COM	655663102	8,586,486	31,276	SH		DFND	5	0	31,276	0
NORDSON CORP COM	COM	655663102	3,732,371	13,595	SH		DFND	4	0	13,595	0
NORTHERN OIL AND GAS INC	COM	665531307	74,491,184	1,877,298	SH		SOLE		1,533,084	0	344,214
NORTHERN OIL AND GAS INC	COM	665531307	9,506,002	239,567	SH		DFND	5	0	239,567	0
NORTHERN OIL AND GAS INC	COM	665531307	4,012,600	101,124	SH		DFND	4	0	101,124	0
NOVO-NORDISK A S ADR	COM	670100205	44,041	343	SH		SOLE		237	0	106
OLD DOMINION FREIGHT LINE	COM	679580100	3,541,876	16,150	SH		SOLE		15,222	0	928
OLD DOMINION FREIGHT LINE	COM	679580100	8,528,527	38,888	SH		DFND	4	0	38,888	0
OPEN TEXT CORP	COM	683715106	4,621	119	SH		SOLE		119	0	0
OTIS WORLDWIDE	COM	68902V107	5,739,857	57,821	SH		SOLE		53,539	0	4,282
OTIS WORLDWIDE	COM	68902V107	11,019,963	111,010	SH		DFND	4	0	111,010	0
P10 INC-A	COM	69376K106	30,615	3,636	SH		SOLE		3,636	0	0
PAPA JOHNS INTERNATIONAL INC	COM	698813102	31,513,397	473,174	SH		SOLE		367,926	0	105,248
PARK AEROSPACE CORP	COM	70014A104	36,952	2,222	SH		SOLE		2,222	0	0
PATRICK INDUSTRIES	COM	703343103	41,337	346	SH		SOLE		346	0	0
PAYCHEX INC	COM	704326107	3,561	29	SH		SOLE		29	0	0
PAYCOM SOFTWARE	COM	70432V102	129,755	652	SH		SOLE		652	0	0
PEPSICO INC	COM	713448108	87,505	500	SH		SOLE		0	0	500
PERRIGO COMPANY	COM	G97822103	56,084,513	1,742,296	SH		SOLE		1,416,379	0	325,917
PERRIGO COMPANY	COM	G97822103	6,589,411	204,704	SH		DFND	5	0	204,704	0
PERRIGO COMPANY	COM	G97822103	3,045,303	94,604	SH		DFND	4	0	94,604	0
PFIZER INC	COM	717081103	138,278	4,983	SH		SOLE		1,494	0	3,489
PLYMOUTH INDUSTRIAL REIT INC	COM	729640102	29,227	1,299	SH		SOLE		1,299	0	0
POOL CORP	COM	73278L105	24,012,314	59,510	SH		SOLE		54,101	0	5,409
POOL CORP	COM	73278L105	7,733,590	19,166	SH		DFND	5	0	19,166	0
POOL CORP	COM	73278L105	13,618,528	33,751	SH		DFND	4	0	33,751	0
POWER INTEGRATIONS INC	COM	739276103	59,473,284	831,213	SH		SOLE		681,120	0	150,093
POWER INTEGRATIONS INC	COM	739276103	7,719,240	107,886	SH		DFND	5	0	107,886	0
POWER INTEGRATIONS INC	COM	739276103	3,453,933	48,273	SH		DFND	4	0	48,273	0
PPG INDUSTRIES INC	COM	693506107	135,626	936	SH		SOLE		0	0	936
PREFERRED BANK	COM	740367404	35,237	459	SH		SOLE		459	0	0
PRICESMART INC	COM	741511109	16,206,120	192,930	SH		SOLE		150,771	0	42,159
PROSPERITY BANCSHARES INC	COM	743606105	19,034,693	289,369	SH		SOLE		263,700	0	25,669
PROSPERITY BANCSHARES INC	COM	743606105	7,377,949	112,161	SH		DFND	5	0	112,161	0
PROSPERITY BANCSHARES INC	COM	743606105	3,458,449	52,576	SH		DFND	4	0	52,576	0
QUAKER CHEMICAL CORPORATION	COM	747316107	56,362,428	274,604	SH		SOLE		224,854	0	49,750
QUAKER CHEMICAL CORPORATION	COM	747316107	7,519,136	36,634	SH		DFND	5	0	36,634	0
QUAKER CHEMICAL CORPORATION	COM	747316107	3,245,618	15,813	SH		DFND	4	0	15,813	0
QUEST DIAGNOSTICS	COM	74834L100	16,471,431	123,743	SH		SOLE		113,104	0	10,639
QUEST DIAGNOSTICS	COM	74834L100	6,909,162	51,906	SH		DFND	5	0	51,906	0
QUEST DIAGNOSTICS	COM	74834L100	2,898,870	21,778	SH		DFND	4	0	21,778	0
RANGER ENERGY SERVICES INC	COM	75282U104	32,515	2,880	SH		SOLE		2,880	0	0
RCI HOSPITALITY HOLDINGS INC	COM	74934Q108	29,754	513	SH		SOLE		513	0	0
RELIANCE INC	COM	759509102	35,174,489	105,256	SH		SOLE		95,999	0	9,257
RELIANCE INC	COM	759509102	12,870,755	38,514	SH		DFND	5	0	38,514	0
RELIANCE INC	COM	759509102	15,910,644	47,611	SH		DFND	4	0	47,611	0
RESMED INC	COM	761152107	1,438,153	7,262	SH		SOLE		6,298	0	964
RILEY EXPLORATION PERMIAN INC	COM	76665T102	40,425	1,225	SH		SOLE		1,225	0	0
ROLLINS INC	COM	775711104	21,261	459	SH		SOLE		0	0	459
ROSS STORES INC	COM	778296103	5,906,983	40,249	SH		SOLE		36,296	0	3,953
ROSS STORES INC	COM	778296103	10,243,261	69,796	SH		DFND	4	0	69,796	0
RYERSON HOLDINGS CORP	COM	783754104	33,600	1,003	SH		SOLE		1,003	0	0
RYMAN HOSPITALITY PPTYS INC	COM	78377T107	8,997,464	77,826	SH		SOLE		70,456	0	7,370
RYMAN HOSPITALITY PPTYS INC	COM	78377T107	3,728,920	32,254	SH		DFND	5	0	32,254	0
RYMAN HOSPITALITY PPTYS INC	COM	78377T107	1,745,133	15,095	SH		DFND	4	0	15,095	0
SANDRIDGE ENERGY INC	COM	80007P869	28,863	1,981	SH		SOLE		1,981	0	0
SANFILIPPO JOHN B	COM	800422107	29,446	278	SH		SOLE		278	0	0
SCHLUMBERGER	COM	806857108	1,005,544	18,346	SH		SOLE		15,275	0	3,071
SCHNEIDER NATL INC	COM	80689H102	29,304,876	1,294,385	SH		SOLE		1,005,473	0	288,912
SHERWIN-WILLIAMS	COM	824348106	5,968,787	17,185	SH		SOLE		15,902	0	1,283
SHERWIN-WILLIAMS	COM	824348106	11,024,254	31,740	SH		DFND	4	0	31,740	0
SHOE CARNIVAL INC	COM	824889109	54,891,872	1,498,141	SH		SOLE		1,164,506	0	333,634
SHUTTERSTOCK INC	COM	825690100	55,324,116	1,207,686	SH		SOLE		992,315	0	215,371
SHUTTERSTOCK INC	COM	825690100	7,669,675	167,424	SH		DFND	5	0	167,424	0
SHUTTERSTOCK INC	COM	825690100	3,437,811	75,045	SH		DFND	4	0	75,045	0
SIRIUS XM HOLDINGS	COM	82968B103	2,285	589	SH		SOLE		589	0	0
SKYWORKS SOLUTIONS INC	COM	83088M102	3,683	34	SH		SOLE		34	0	0
SNAP-ON INC	COM	833034101	4,147	14	SH		DFND	5	0	14	0
SONY GROUP CORP	COM	835699307	11,918	139	SH		SOLE		37	0	102
SPDR S&P 500 ETF TRUST	COM	78462f103	15,169	29	SH		SOLE		29	0	0
SS&C TECHNOLOGIES HOLDINGS	COM	78467J100	229,157	3,560	SH		SOLE		3,560	0	0
STANDEX INTL CORP	COM	854231107	85,639,306	469,978	SH		SOLE		382,533	0	87,445
STANDEX INTL CORP	COM	854231107	10,307,723	56,567	SH		DFND	5	0	56,567	0
STANDEX INTL CORP	COM	854231107	4,347,587	23,859	SH		DFND	4	0	23,859	0
STARBUCKS CORP	COM	855244109	4,739,528	51,860	SH		SOLE		47,015	0	4,845
STARBUCKS CORP	COM	855244109	8,808,717	96,386	SH		DFND	4	0	96,386	0
STEPAN CO	COM	858586100	41,058	456	SH		SOLE		336	0	120
STERIS PLC	COM	G8473T100	26,028,792	115,776	SH		SOLE		105,176	0	10,600
STERIS PLC	COM	G8473T100	9,260,987	41,193	SH		DFND	5	0	41,193	0
STERIS PLC	COM	G8473T100	14,222,788	63,263	SH		DFND	4	0	63,263	0
STEVANATO GROUP SPA	COM	T9224W109	69,390,307	2,161,692	SH		SOLE		1,742,057	0	419,635
STEVANATO GROUP SPA	COM	T9224W109	5,197,047	161,902	SH		DFND	5	0	161,902	0
STEVANATO GROUP SPA	COM	T9224W109	2,520,524	78,521	SH		DFND	4	0	78,521	0
STEWART INFORMATION SERVICES C	COM	860372101	35,783	550	SH		SOLE		550	0	0
STRYKER CORP	COM	863667101	6,084	17	SH		SOLE		17	0	0
SYNCHRONY FINL	COM	87165b103	113,319	2,628	SH		SOLE		0	0	2,628
TERRENO REALTY CORP	COM	88146M101	62,407,553	939,873	SH		SOLE		765,589	0	174,284
TERRENO REALTY CORP	COM	88146M101	7,999,596	120,476	SH		DFND	5	0	120,476	0
TERRENO REALTY CORP	COM	88146M101	3,555,322	53,544	SH		DFND	4	0	53,544	0
TETRA TECH INC	COM	88162G103	72,504,116	392,529	SH		SOLE		321,798	0	70,731
TETRA TECH INC	COM	88162G103	9,778,253	52,938	SH		DFND	5	0	52,938	0
TETRA TECH INC	COM	88162G103	4,125,128	22,333	SH		DFND	4	0	22,333	0
THE BANK OF PRINCETON	COM	74179A107	26,286	854	SH		SOLE		854	0	0
THERMO FISHER SCIENTIFIC INC	COM	883556102	3,487	6	SH		SOLE		6	0	0
TIPTREE INC	COM	88822q103	33,489	1,938	SH		SOLE		1,938	0	0
TJX COMPANIES INC	COM	872540109	26,166	258	SH		SOLE		47	0	211
TORO CO	COM	891092108	2,749	30	SH		DFND	5	0	30	0
TORONTO DOMINION BANK F	COM	891160509	3,079	51	SH		SOLE		51	0	0
TOWNSQUARE MEDIA INC - CL A	COM	892231101	28,493	2,595	SH		SOLE		2,595	0	0
TRACTOR SUPPLY COMPANY	COM	892356106	1,281,923	4,898	SH		SOLE		4,243	0	655
TRACTOR SUPPLY COMPANY	COM	892356106	9,945	38	SH		DFND	5	0	38	0
TRANSUNION	COM	89400J107	16,907,944	211,879	SH		SOLE		193,041	0	18,838
TRANSUNION	COM	89400J107	7,099,625	88,968	SH		DFND	5	0	88,968	0
TRANSUNION	COM	89400J107	3,055,143	38,285	SH		DFND	4	0	38,285	0
TRAVEL & LEISURE CO	COM	894164102	63,235,056	1,291,566	SH		SOLE		1,056,774	0	234,791
TRAVEL & LEISURE CO	COM	894164102	8,295,425	169,433	SH		DFND	5	0	169,433	0
TRAVEL & LEISURE CO	COM	894164102	3,592,734	73,381	SH		DFND	4	0	73,381	0
TURNING PT BRANDS	COM	90041L105	40,698	1,389	SH		SOLE		1,389	0	0
U.S. PHYSICAL THERAPY INC	COM	90337L108	73,838,978	654,195	SH		SOLE		533,925	0	120,270
U.S. PHYSICAL THERAPY INC	COM	90337L108	9,197,306	81,486	SH		DFND	5	0	81,486	0
U.S. PHYSICAL THERAPY INC	COM	90337L108	3,898,530	34,540	SH		DFND	4	0	34,540	0
UBS GROUP AG	COM	H42097107	5,253	171	SH		SOLE		171	0	0
UFP PACKAGING	COM	90278Q108	54,993,989	447,069	SH		SOLE		367,188	0	79,881
UFP PACKAGING	COM	90278Q108	7,782,006	63,263	SH		DFND	5	0	63,263	0
UFP PACKAGING	COM	90278Q108	3,395,691	27,605	SH		DFND	4	0	27,605	0
UMH PROPERTIES	COM	903002103	39,331,766	2,421,907	SH		SOLE		1,881,551	0	540,356
UNIFIRST CORP/MA	COM	904708104	43,004,457	247,964	SH		SOLE		203,248	0	44,717
UNIFIRST CORP/MA	COM	904708104	5,861,550	33,798	SH		DFND	5	0	33,798	0
UNIFIRST CORP/MA	COM	904708104	2,501,901	14,426	SH		DFND	4	0	14,426	0
UNILEVER PLC	COM	904767704	2,509	50	SH		SOLE		50	0	0
UNITEDHEALTH GROUP INC	COM	91324P102	7,383,369	14,925	SH		SOLE		13,822	0	1,103
UNITEDHEALTH GROUP INC	COM	91324P102	13,893,155	28,084	SH		DFND	4	0	28,084	0
UNIVERSAL DISPLAY	COM	91347P105	65,356,948	387,990	SH		SOLE		317,897	0	70,093
UNIVERSAL DISPLAY	COM	91347P105	7,571,786	44,950	SH		DFND	5	0	44,950	0
UNIVERSAL DISPLAY	COM	91347P105	3,154,395	18,726	SH		DFND	4	0	18,726	0
UTAH MEDICAL PRODUCT	COM	917488108	24,391	343	SH		SOLE		343	0	0
UTZ BRANDS INC	COM	918090101	55,945,570	3,033,925	SH		SOLE		2,357,498	0	676,426
VALMONT INDUSTRIES	COM	920253101	58,819,414	257,663	SH		SOLE		211,395	0	46,268
VALMONT INDUSTRIES	COM	920253101	6,865,317	30,074	SH		DFND	5	0	30,074	0
VALMONT INDUSTRIES	COM	920253101	3,515,055	15,398	SH		DFND	4	0	15,398	0
VANGUARD MID-CAP ETF	COM	922908629	109,364	438	SH		DFND	5	0	438	0
VISA INC	COM	92826C839	7,920,686	28,381	SH		SOLE		25,504	0	2,877
VISA INC	COM	92826C839	15,258,141	54,673	SH		DFND	4	0	54,673	0
WASTE CONNECTIONS INC	COM	94106B101	7,748,606	45,047	SH		SOLE		41,175	0	3,872
WASTE CONNECTIONS INC	COM	94106B101	14,521,084	84,420	SH		DFND	4	0	84,420	0
WESCO INTERNATIONAL INC	COM	95082P105	21,582,650	126,008	SH		SOLE		114,677	0	11,331
WESCO INTERNATIONAL INC	COM	95082P105	8,536,512	49,840	SH		DFND	5	0	49,840	0
WESCO INTERNATIONAL INC	COM	95082P105	3,967,701	23,165	SH		DFND	4	0	23,165	0
WEST PHARMACEUTICAL SERVICES	COM	955306105	1,384,766	3,499	SH		SOLE		3,050	0	449
WILLIAMS SONOMA	COM	969904101	7,621	24	SH		SOLE		24	0	0
WINGSTOP INC	COM	974155103	81,095,314	221,330	SH		SOLE		181,615	0	39,715
WINGSTOP INC	COM	974155103	12,146,268	33,150	SH		DFND	5	0	33,150	0
WINGSTOP INC	COM	974155103	4,981,208	13,595	SH		DFND	4	0	13,595	0
WINMARK CORP	COM	974250102	11,439,124	31,626	SH		SOLE		24,962	0	6,664
ZOETIS INC	COM	98978V103	5,454,874	32,237	SH		SOLE		28,615	0	3,622
ZOETIS INC	COM	98978V103	10,598,468	62,635	SH		DFND	4	0	62,635	0