COPELAND DIVIDEND GROWTH FUND
SCHEDULE OF INVESTMENTS (Unaudited)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 99.8%      
    ASSET MANAGEMENT - 2.4%      
5,122   Brookfield Asset Management Ltd.       $ 263,783
3,043   Hamilton Lane, Inc., Class A         331,139
             

594,922

    BANKING - 3.2%      
1,230   JPMorgan Chase & Company         437,904
2,182   Popular, Inc.         366,991
             

804,895

    BIOTECH & PHARMA - 3.2%      
387   Eli Lilly & Company         447,655
451   Regeneron Pharmaceuticals, Inc.         360,385
             

808,040

    CHEMICALS - 2.4%      
3,881   Corteva, Inc.         328,449
905   Ecolab, Inc.         256,296
             

584,745

    COMMERCIAL SUPPORT SERVICES - 2.5%      
1,636   Cintas Corporation         330,129
1,873   Waste Connections, Inc.         309,644
             

639,773

    CONSTRUCTION MATERIALS - 1.1%      
1,043   Vulcan Materials Company         281,172
             
    CONSUMER SERVICES - 1.3%      
9,880   Perdoceo Education Corporation         328,411
             
    DATA CENTER REIT - 1.5%      
348   Equinix, Inc.         364,258
             
    E-COMMERCE DISCRETIONARY - 1.4%      
3,455   eBay, Inc.         357,800
             
    ELECTRIC UTILITIES - 2.4%      
3,818   NextEra Energy, Inc.         314,375
 
 

 

COPELAND DIVIDEND GROWTH FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 99.8% (Continued)      
    ELECTRIC UTILITIES - 2.4% (Continued)      
2,687   NRG Energy, Inc.       $ 295,892
             

610,267

    ELECTRICAL EQUIPMENT - 4.9%      
3,588   Amphenol Corporation, Class A         568,877
10,470   Napco Security Technologies, Inc.         379,433
1,171   Vertiv Holdings Company, Class A         302,961
             

1,251,271

    HEALTH CARE FACILITIES & SERVICES - 4.3%      
1,058   Cencora, Inc.         342,368
3,399   Encompass Health Corporation         408,593
1,818   Ensign Group, Inc. (The)         313,169
             

1,064,130

    HEALTH CARE REIT - 1.4%      
9,085   CareTrust REIT, Inc.         353,861
             
    INDUSTRIAL INTERMEDIATE PROD - 1.4%      
759   Valmont Industries, Inc.         356,472
             
    INDUSTRIAL SUPPORT SERVICES - 1.6%      
1,160   WESCO International, Inc.         394,864
             
    INSTITUTIONAL FINANCIAL SERVICES - 3.3%      
2,053   Morgan Stanley         437,946
3,897   Nasdaq, Inc.         384,283
             

822,229

    INSURANCE - 3.2%      
1,636   Allstate Corporation (The)         421,762
1,399   Primerica, Inc.         402,422
             

824,184

    INTERNET MEDIA & SERVICES - 4.1%      
1,881   Alphabet, Inc., Class A         638,318
1,905   Booking Holdings, Inc.         379,266
             

1,017,584

 
 

 

COPELAND DIVIDEND GROWTH FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 99.8% (Continued)      
    LEISURE FACILITIES & SERVICES - 1.2%      
885   Marriott International Inc, Class A       $ 302,458
             
    MEDICAL EQUIPMENT & DEVICES - 4.2%      
4,279   LeMaitre Vascular, Inc.         343,518
1,431   ResMed, Inc.         343,583
1,549   STERIS PLC         360,360
             

1,047,461

    OIL & GAS PRODUCERS - 3.4%      
1,488   Cheniere Energy, Inc.         434,035
2,023   Diamondback Energy, Inc.         405,571
             

839,606

    PUBLISHING & BROADCASTING - 1.6%      
5,944   New York Times Company (The), Class A         399,853
             
    RETAIL - CONSUMER STAPLES - 1.4%      
2,031   PriceSmart, Inc.         345,290
             
    RETAIL - DISCRETIONARY - 3.8%      
2,271   Ross Stores, Inc.         519,014
1,873   Williams-Sonoma, Inc.         427,512
             

946,526

    SEMICONDUCTORS - 10.9%      
1,439   Broadcom, Inc.         532,919
1,264   Lam Research Corporation         381,083
324   Monolithic Power Systems, Inc.         410,757
3,802   NVIDIA Corporation         839,407
1,359   Taiwan Semiconductor Manufacturing Company Ltd. - ADR         564,420
             

2,728,586

    SOFTWARE - 5.7%      
8,063   Clear Secure, Inc., Class A         355,981
2,095   Microsoft Corporation         1,062,773
             

1,418,754

    TECHNOLOGY HARDWARE - 6.8%      
2,047   Apple, Inc.         648,592
 
 

 

COPELAND DIVIDEND GROWTH FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 99.8% (Continued)      
    TECHNOLOGY HARDWARE - 6.8% (Continued)      
941   Motorola Solutions, Inc.       $ 456,667
1,288   TD SYNNEX Corporation         325,671
601   Western Digital Corporation         270,781
             

1,701,711

    TECHNOLOGY SERVICES - 9.1%      
4,333   Booz Allen Hamilton Holding Corporation         327,791
2,214   Broadridge Financial Solutions, Inc.         403,789
2,294   Jack Henry & Associates, Inc.         385,186
569   MSCI, Inc.         324,694
4,758   TransUnion         404,002
1,201   Visa, Inc., Class A         455,623
             

2,301,085

    TOBACCO & CANNABIS - 2.7%      
2,080   Philip Morris International, Inc.         389,584
3,566   Turning Point Brands, Inc.         288,739
             

678,323

    TRANSPORTATION & LOGISTICS - 1.6%      
1,479   JB Hunt Transport Services, Inc.         392,630
             
    TRANSPORTATION EQUIPMENT - 1.8%      
1,541   Westinghouse Air Brake Technologies Corporation         440,618
             
               
    TOTAL COMMON STOCKS (Cost $17,987,088)    

  25,001,779

               
    SHORT-TERM INVESTMENT — 0.2%      
    MONEY MARKET FUND - 0.2%      
52,154   Northern Institutional Treasury Portfolio, 3.55% (Cost $52,154)(a)         52,154
             
    TOTAL INVESTMENTS - 100.0% (Cost $18,039,242)     $ 25,053,933
    LIABILITIES IN EXCESS OF OTHER ASSETS - 0.0%    

(6,865)

    NET ASSETS - 100.0%        

$ 25,047,068

 
 

 

COPELAND DIVIDEND GROWTH FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

August 31, 2026

 

 

 

 

ADR  - American Depositary Receipt
LTD  - Limited Company
MSCI  - Morgan Stanley Capital International
PLC  - Public Limited Company
REIT  - Real Estate Investment Trust
   
 

 

 

 

(a) Rate disclosed is the seven day effective yield as of August 31, 2026.

 

 

 
 

 

COPELAND SMID CAP DIVIDEND GROWTH FUND
SCHEDULE OF INVESTMENTS (Unaudited)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 99.4%      
    AEROSPACE & DEFENSE - 1.8%      
21,751   Hexcel Corporation       $ 2,015,665
             
    ASSET MANAGEMENT - 3.2%      
19,242   Cohen & Steers, Inc.         1,552,252
19,251   Hamilton Lane, Inc., Class A         2,094,894
             

3,647,146

    AUTOMOTIVE - 0.5%      
21,380   Garrett Motion, Inc.         576,191
             
    BANKING - 4.5%      
60,087   Home BancShares, Inc.         1,770,162
9,965   Popular, Inc.         1,676,013
40,944   ServisFirst Bancshares, Inc.         1,762,230
             

5,208,405

    CHEMICALS - 1.4%      
25,882   Solstice Advanced Materials, Inc.         1,640,660
             
    COMMERCIAL SUPPORT SERVICES - 1.5%      
41,479   GFL Environmental, Inc.         1,754,147
             
    CONSTRUCTION MATERIALS - 1.6%      
5,157   Carlisle Companies, Inc.         1,787,313
             
    CONSUMER SERVICES - 1.5%      
52,468   Perdoceo Education Corporation         1,744,036
             
    CONTAINERS & PACKAGING - 1.4%      
12,057   AptarGroup, Inc.         1,586,942
             
    ELECTRICAL EQUIPMENT - 8.2%      
20,964   AAON, Inc.         1,592,635
5,044   Acuity, Inc.         1,673,549
6,809   BWX Technologies, Inc.         1,036,943
26,804   Cognex Corporation         1,633,972
 
 

 

COPELAND SMID CAP DIVIDEND GROWTH FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 99.4% (Continued)      
    ELECTRICAL EQUIPMENT - 8.2% (Continued)      
4,367   Littelfuse, Inc.       $ 1,799,989
43,453   Napco Security Technologies, Inc.         1,574,737
             

9,311,825

    FORESTRY, PAPER & WOOD PRODUCTS - 1.3%      
16,929   UFP Industries, Inc.         1,430,839
             
    GAS & WATER UTILITIES - 1.5%      
12,500   Chesapeake Utilities Corporation         1,669,250
             
    HEALTH CARE FACILITIES & SERVICES - 8.6%      
3,733   Chemed Corporation         1,936,344
14,303   Encompass Health Corporation         1,719,364
11,515   Ensign Group, Inc. (The)         1,983,574
8,809   Quest Diagnostics, Inc.         2,116,802
25,213   U.S. Physical Therapy, Inc.         1,960,059
             

9,716,143

    HEALTH CARE REIT - 1.6%      
47,144   CareTrust REIT, Inc.         1,836,259
             
    HOTEL REIT - 1.9%      
16,387   Ryman Hospitality Properties, Inc.         2,077,216
             
    INDUSTRIAL INTERMEDIATE PROD - 3.2%      
12,500   AZZ, Inc.         1,714,500
4,085   Valmont Industries, Inc.         1,918,561
             

3,633,061

    INDUSTRIAL REIT - 1.5%      
26,082   Terreno Realty Corporation         1,726,889
             
    INDUSTRIAL SUPPORT SERVICES - 1.3%      
4,400   WESCO International, Inc.         1,497,760
             
    INSURANCE - 2.8%      
4,380   Kinsale Capital Group, Inc.         1,637,682
 
 

 

COPELAND SMID CAP DIVIDEND GROWTH FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 99.4% (Continued)      
    INSURANCE - 2.8% (Continued)      
5,364   Primerica, Inc.       $ 1,542,955
             

3,180,637

    LEISURE FACILITIES & SERVICES - 3.7%      
17,322   Churchill Downs, Inc.         1,515,329
25,836   Travel + Leisure Company         1,776,482
6,939   Wingstop, Inc.         759,682
             

4,051,493

    LEISURE PRODUCTS - 1.4%      
21,505   Brunswick Corporation         1,632,230
             
    MACHINERY - 3.4%      
6,693   Nordson Corporation         2,153,272
17,766   Veralto Corporation         1,751,195
             

3,904,467

    MEDICAL EQUIPMENT & DEVICES - 3.5%      
25,797   LeMaitre Vascular, Inc.         2,070,984
8,310   STERIS PLC         1,933,238
             

4,004,222

    METALS & MINING - 1.8%      
7,628   Royal Gold, Inc.         1,994,494
             
    OIL & GAS PRODUCERS - 5.1%      
14,370   DT Midstream, Inc.         1,882,757
51,819   Excelerate Energy, Inc., Class A         2,053,069
31,987   Matador Resources Company         1,855,566
             

5,791,392

    PUBLISHING & BROADCASTING - 1.5%      
25,098   New York Times Company (The), Class A         1,688,342
             
    REAL ESTATE SERVICES - 1.5%      
12,106   FirstService Corporation         1,686,850
             
 
 

 

COPELAND SMID CAP DIVIDEND GROWTH FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 99.4% (Continued)      
    RETAIL - CONSUMER STAPLES - 1.7%      
11,158   PriceSmart, Inc.       $ 1,896,972
             
    RETAIL - DISCRETIONARY - 3.8%      
7,775   Dick's Sporting Goods, Inc.         1,050,403
8,233   FirstCash Holdings, Inc.         1,765,732
17,913   Patrick Industries, Inc.         1,463,850
             

4,279,985

    SEMICONDUCTORS - 3.5%      
18,242   Kulicke & Soffa Industries, Inc.         1,460,455
24,556   Power Integrations, Inc.         1,261,687
15,354   Universal Display Corporation         1,276,992
             

3,999,134

    SOFTWARE - 5.1%      
52,637   Bentley Systems, Inc., Class B         1,934,410
44,418   Clear Secure, Inc., Class A         1,961,054
50,242   Pegasystems, Inc.         1,849,408
             

5,744,872

    STEEL - 1.4%      
4,183   Reliance, Inc.         1,606,481
             
    TECHNOLOGY HARDWARE - 1.5%      
6,545   TD SYNNEX Corporation         1,654,903
             
    TECHNOLOGY SERVICES - 8.3%      
26,780   Booz Allen Hamilton Holding Corporation         2,025,907
12,647   Jack Henry & Associates, Inc.         2,123,558
46,037   KBR, Inc.         1,726,388
8,809   Morningstar, Inc.         1,928,642
20,767   TransUnion         1,763,326
             

9,567,821

    TOBACCO & CANNABIS - 1.4%      
19,635   Turning Point Brands, Inc.         1,589,846
             

 

 
 

 

COPELAND SMID CAP DIVIDEND GROWTH FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 99.4% (Continued)      
    TRANSPORTATION & LOGISTICS - 1.5%      
9,547   Landstar System, Inc.       $ 1,724,475
             
               
    TOTAL COMMON STOCKS (Cost $105,208,808)    

  112,858,363

               
    SHORT-TERM INVESTMENT — 0.6%      
    MONEY MARKET FUND - 0.6%      
661,843   Northern Institutional Treasury Portfolio, 3.55% (Cost $661,843)(a)         661,843
             
    TOTAL INVESTMENTS - 100.0% (Cost $105,870,651)     $ 113,520,206
    LIABILITIES IN EXCESS OF OTHER ASSETS - 0.0%    

(45,759)

    NET ASSETS - 100.0%        

$ 113,474,447

           
               
 

 

 

 

PLC  - Public Limited Company
REIT  - Real Estate Investment Trust
   
 

 

 

 

(a) Rate disclosed is the seven day effective yield as of August 31, 2026.

 

 
 

COPELAND INTERNATIONAL SMALL CAP FUND
 SCHEDULE OF INVESTMENTS (Unaudited)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 94.6%      
    Australia - 7.2%      
359   Breville Group Ltd.       $ 8,328
562   Sims Ltd.         9,779
3,192   Steadfast Group Ltd.         13,310
3,229   Ventia Services Group Pty Ltd.         12,594
3,567   Westgold Resources Ltd.(a)         16,285
             

60,296

    Belgium - 1.1%      
371   Warehouses De Pauw CVA         9,050
             
    Canada - 14.3%      
186   Atco Ltd., Class I         9,985
187   BRP, Inc.         11,546
486   Enerflex Ltd.         9,910
47   FirstService Corporation         6,541
166   Granite Real Estate Investment Trust         10,616
61   Mainstreet Equity Corporation         7,447
331   OR Royalties, Inc.         12,225
109   Sprott, Inc.         14,327
67   TFI International, Inc.         9,002
253   TMX Group Ltd.         9,863
67   Toromont Industries Ltd.         9,681
214   Tourmaline Oil Corporation         9,749
             

120,892

    Denmark - 2.4%      
121   Chemometec A/S         9,311
168   Royal Unibrew A/S         11,148
             

20,459

    Finland - 1.2%      
524   Puuilo OYJ         10,374
             
    France - 2.3%      
43   Gaztransport Et Technigaz S.A.         10,510
52   Nexans S.A.         8,425
             

18,935

 
 

 

COPELAND INTERNATIONAL SMALL CAP FUND
 SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 94.6% (Continued)      
    Germany - 4.5%      
69   AlzChem Group A.G.       $ 13,194
116   Hensoldt AG         11,566
145   Scout24 A.G. 144A(b)         13,408
             

38,168

    Italy - 4.8%      
128   Banca Generali SpA         9,819
196   Interpump Group SpA         8,542
319   Lottomatica Group Spa 144A(b)         9,394
191   SOL SpA         12,493
             

40,248

    Japan - 32.3%      
378   Aica Kogyo Company Ltd.         9,805
580   Asahi Intecc Company Ltd.         13,687
464   Asics Corporation         13,011
323   BayCurrent, Inc.         16,574
998   Chiba Bank Ltd. (The)         17,512
60   Horiba Ltd.         8,741
837   Hulic Company Ltd.         9,337
791   Japan Elevator Service Holdings Company Ltd.         7,716
238   JCU Corporation         8,035
881   Kotobuki Spirits Co Ltd         15,304
199   Kurita Water Industries Ltd.         9,996
733   Mani, Inc.         7,200
29   Maruwa Company Ltd.         9,564
158   Micronics Japan Company Ltd.         12,540
1,208   Mitsubishi UFJ Lease & Finance Company Ltd.         10,518
474   Nichias Corporation         10,256
1,081   Nomura Real Estate Holdings, Inc.         6,293
191   PILLAR Corp         12,065
1,141   Rakus Co Ltd         8,309
654   Rohto Pharmaceutical Company Ltd.         12,529
906   Santen Pharmaceutical Company Ltd.         10,649
140   Seiko Group Corporation         10,284
254   Shibaura Mechatronics Corporation         6,382
 
 

 

COPELAND INTERNATIONAL SMALL CAP FUND
 SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 94.6% (Continued)      
    Japan - 32.3% (Continued)      
1,793   Simplex Holdings, Inc.       $ 14,004
864   USS Company Ltd.         10,775
             

271,086

    Luxembourg - 1.3%      
285   Subsea 7 S.A.         10,520
             
    Netherlands - 2.2%      
218   Arcadis N.V.         11,301
213   Technip Energies N.V.         7,461
             

18,762

    Norway - 1.3%      
513   Sparebanken Norge         11,208
             
    Singapore - 1.1%      
1,347   iFAST Corp Ltd.         9,402
             
    Spain - 1.5%      
118   Vidrala S.A.         12,304
             
    Sweden - 5.2%      
271   AddTech A.B.         9,545
853   Bravida Holding A.B. 144A(b)         12,413
197   Loomis A.B.(a)         11,124
1,330   Wihlborgs Fastigheter A.B.(a)         10,680
             

43,762

    Switzerland - 2.8%      
45   Huber + Suhner A.G.         9,256
64   VZ Holding A.G.         14,180
             

23,436

    United Kingdom - 9.1%      
117   Diploma plc         11,499
213   Halma PLC         10,357
447   Hill & Smith Holdings plc         17,994
694   Howden Joinery Group plc         7,376
 
 

 

COPELAND INTERNATIONAL SMALL CAP FUND
 SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 94.6% (Continued)      
    United Kingdom - 9.1% (Continued)      
4,177   Premier Foods PLC       $ 11,176
1,029   Safestore Holdings PLC         8,142
97   Spirax-Sarco Engineering plc         9,232
             

75,776

               
    TOTAL COMMON STOCKS (Cost $662,817)    

  794,678

               
    SHORT-TERM INVESTMENT — 3.8%      
    MONEY MARKET FUND - 3.8%      
32,134   Northern Institutional Treasury Portfolio, 3.55% (Cost $32,134)(c)         32,134
             
    TOTAL INVESTMENTS - 98.4% (Cost $694,951)     $ 826,812
    OTHER ASSETS IN EXCESS OF LIABILITIES- 1.6%    

13,225

    NET ASSETS - 100.0%        

$ 840,037

           
               
 

 

 

 

A/S  - Anonim Sirketi
A.B.  - Aktiebolag
A.G.  - Aktiengegesellschaft
CVR   -Commanditaire Vennootschap op Aandelen
LTD  - Limited Company
N.V.  - Naamioze Vennootschap
OYJ  - Julkinen osakeyhtiö
PLC  - Public Limited Company
REIT  - Real Estate Investment Trust
S.A.  - Société Anonyme
SpA  - Société per Azioni
   
 

 

 

 

(a) The value of this security has been determined in good faith under policies of the Board of Trustees.
(b) Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers.  As of August 31, 2026 the total market value of 144A securities is 35,215 or 4.2% of net assets.
(c) Rate disclosed is the seven day effective yield as of August 31, 2026.