# Copeland Capital Management, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1541743. Source: https://holderbook.com/funds/1541743-copeland-capital-management-llc/

- Reported value: $4.9B
- Positions: 265
- Weight of the ten largest: 20.8%
- Filed: 2026-08-04

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| KULICKE & SOFFA INDS INC | [KLIC](https://holderbook.com/stocks/KLIC/) | $133.8M | 1,000,293 | 2.7% | 22 |
| PRICESMART INC | [PSMT](https://holderbook.com/stocks/PSMT/) | $119.1M | 609,883 | 2.4% | 10 |
| LITTELFUSE INC | [LFUS](https://holderbook.com/stocks/LFUS/) | $114.4M | 251,346 | 2.4% | 31 |
| COGNEX CORP | [CGNX](https://holderbook.com/stocks/CGNX/) | $96.0M | 1,325,870 | 2.0% | 31 |
| AAON INC | [AAON](https://holderbook.com/stocks/AAON/) | $95.2M | 750,196 | 2.0% | 4 |
| CLEAR SECURE INC | [YOU](https://holderbook.com/stocks/YOU/) | $93.8M | 1,682,498 | 1.9% | 7 |
| VALMONT INDS INC | [VMI](https://holderbook.com/stocks/VMI/) | $93.0M | 161,012 | 1.9% | 12 |
| ENSIGN GROUP INC | [ENSG](https://holderbook.com/stocks/ENSG/) | $91.2M | 568,896 | 1.9% | 31 |
| HEXCEL CORP NEW | [HXL](https://holderbook.com/stocks/HXL/) | $87.8M | 877,777 | 1.8% | 10 |
| ENCOMPASS HEALTH CORP | [EHC](https://holderbook.com/stocks/EHC/) | $86.5M | 855,415 | 1.8% | 31 |
| LEMAITRE VASCULAR INC | [LMAT](https://holderbook.com/stocks/LMAT/) | $80.6M | 839,463 | 1.7% | 31 |
| NAPCO SEC TECHNOLOGIES INC | [NSSC](https://holderbook.com/stocks/NSSC/) | $76.6M | 2,016,873 | 1.6% | 12 |
| EXCELERATE ENERGY INC | [EE](https://holderbook.com/stocks/EE/) | $75.0M | 1,973,585 | 1.5% | 3 |
| TRAVEL PLUS LEISURE CO | [TNL](https://holderbook.com/stocks/TNL/) | $74.1M | 969,930 | 1.5% | 18 |
| POWER INTEGRATIONS INC | [POWI](https://holderbook.com/stocks/POWI/) | $73.9M | 882,810 | 1.5% | 31 |
| WESCO INTL INC | [WCC](https://holderbook.com/stocks/WCC/) | $73.7M | 213,242 | 1.5% | 10 |
| BRUNSWICK CORP | [BC](https://holderbook.com/stocks/BC/) | $71.5M | 849,283 | 1.5% | 25 |
| HOME BANCSHARES INC | [HOMB](https://holderbook.com/stocks/HOMB/) | $69.8M | 2,445,709 | 1.4% | 31 |
| CARETRUST REIT INC | [CTRE](https://holderbook.com/stocks/CTRE/) | $68.4M | 1,696,045 | 1.4% | 5 |
| MATERION CORP | [MTRN](https://holderbook.com/stocks/MTRN/) | $67.7M | 227,669 | 1.4% | 25 |
| CHEMED CORP NEW | [CHE](https://holderbook.com/stocks/CHE/) | $67.5M | 145,007 | 1.4% | 31 |
| AZZ INC | [AZZ](https://holderbook.com/stocks/AZZ/) | $67.5M | 435,558 | 1.4% | 4 |
| LANDSTAR SYS INC | [LSTR](https://holderbook.com/stocks/LSTR/) | $66.2M | 319,978 | 1.4% | 26 |
| SERVISFIRST BANCSHARES INC | [SFBS](https://holderbook.com/stocks/SFBS/) | $64.0M | 737,503 | 1.3% | 2 |
| MATADOR RES CO | [MTDR](https://holderbook.com/stocks/MTDR/) | $61.9M | 1,242,903 | 1.3% | 14 |
| TERRENO RLTY CORP | [TRNO](https://holderbook.com/stocks/TRNO/) | $59.9M | 924,441 | 1.2% | 16 |
| STANDEX INTL CORP | [SXI](https://holderbook.com/stocks/SXI/) | $59.4M | 166,193 | 1.2% | 31 |
| TURNING PT BRANDS INC | [TPB](https://holderbook.com/stocks/TPB/) | $58.5M | 690,323 | 1.2% | 8 |
| COHEN & STEERS INC | [CNS](https://holderbook.com/stocks/CNS/) | $58.5M | 768,748 | 1.2% | 31 |
| PATRICK INDS INC | [PATK](https://holderbook.com/stocks/PATK/) | $58.2M | 647,753 | 1.2% | 8 |
| U S PHYSICAL THERAPY | [USPH](https://holderbook.com/stocks/USPH/) | $57.8M | 841,544 | 1.2% | 22 |
| PERDOCEO ED CORP | [PRDO](https://holderbook.com/stocks/PRDO/) | $56.6M | 1,769,864 | 1.2% | 4 |
| CHESAPEAKE UTILS CORP | [CPK](https://holderbook.com/stocks/CPK/) | $54.6M | 445,383 | 1.1% | 31 |
| UFP INDUSTRIES INC | [UFPI](https://holderbook.com/stocks/UFPI/) | $52.5M | 578,310 | 1.1% | 22 |
| KBR INC | [KBR](https://holderbook.com/stocks/KBR/) | $49.6M | 1,436,669 | 1.0% | 4 |
| FIRSTSERVICE CORP NEW | [FSV](https://holderbook.com/stocks/FSV/) | $49.5M | 348,416 | 1.0% | 9 |
| KINSALE CAP GROUP INC | [KNSL](https://holderbook.com/stocks/KNSL/) | $48.3M | 146,585 | 1.0% | 14 |
| UNIVERSAL DISPLAY CORP | [OLED](https://holderbook.com/stocks/OLED/) | $48.0M | 553,900 | 1.0% | 31 |
| FEDERAL AGRIC MTG CORP | [AGM](https://holderbook.com/stocks/AGM/) | $45.8M | 229,813 | 0.9% | 31 |
| INTERFACE INC | [TILE](https://holderbook.com/stocks/TILE/) | $44.3M | 1,235,110 | 0.9% | 2 |
| KFORCE INC | [KFRC](https://holderbook.com/stocks/KFRC/) | $43.6M | 928,350 | 0.9% | 24 |
| WINGSTOP INC | [WING](https://holderbook.com/stocks/WING/) | $42.9M | 247,108 | 0.9% | 23 |
| PEGASYSTEMS INC | [PEGA](https://holderbook.com/stocks/PEGA/) | $42.2M | 1,406,961 | 0.9% | 2 |
| QUAKER HOUGHTON | [KWR](https://holderbook.com/stocks/KWR/) | $41.0M | 258,068 | 0.8% | 31 |
| WILLSCOT HLDGS CORP | [WSC](https://holderbook.com/stocks/WSC/) | $38.7M | 1,341,124 | 0.8% | 5 |
| BROOKFIELD INFRASTRUCTURE CO | [BIPC](https://holderbook.com/stocks/BIPC/) | $38.4M | 997,355 | 0.8% | 7 |
| HAMILTON LANE INC | [HLNE](https://holderbook.com/stocks/HLNE/) | $38.3M | 486,440 | 0.8% | 22 |
| IRADIMED CORP | [IRMD](https://holderbook.com/stocks/IRMD/) | $37.4M | 391,860 | 0.8% | 12 |
| RELIANCE INC | [RS](https://holderbook.com/stocks/RS/) | $36.6M | 98,024 | 0.8% | 22 |
| MSA SAFETY INC | [MSA](https://holderbook.com/stocks/MSA/) | $35.8M | 205,223 | 0.7% | 7 |
| MORNINGSTAR INC | [MORN](https://holderbook.com/stocks/MORN/) | $35.8M | 229,546 | 0.7% | 31 |
| KODIAK GAS SVCS INC | [KGS](https://holderbook.com/stocks/KGS/) | $35.8M | 476,035 | 0.7% | 1 |
| ESQUIRE FINL HLDGS INC | [ESQ](https://holderbook.com/stocks/ESQ/) | $35.3M | 296,535 | 0.7% | 8 |
| NVENT ELEC PLC | [NVT](https://holderbook.com/stocks/NVT/) | $34.5M | 203,248 | 0.7% | 7 |
| ALAMO GROUP INC | [ALG](https://holderbook.com/stocks/ALG/) | $34.1M | 207,212 | 0.7% | 3 |
| HEALTHSTREAM INC | [HSTM](https://holderbook.com/stocks/HSTM/) | $34.0M | 1,248,384 | 0.7% | 8 |
| WYNDHAM HOTELS & RESORTS INC | [WH](https://holderbook.com/stocks/WH/) | $33.8M | 401,103 | 0.7% | 9 |
| STERIS PLC | [STE](https://holderbook.com/stocks/STE/) | $32.9M | 156,425 | 0.7% | 31 |
| DT MIDSTREAM INC | [DTM](https://holderbook.com/stocks/DTM/) | $32.5M | 221,486 | 0.7% | 4 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $32.1M | 89,780 | 0.7% | 5 |
| NORDSON CORP | [NDSN](https://holderbook.com/stocks/NDSN/) | $31.9M | 105,669 | 0.7% | 31 |
| RYMAN HOSPITALITY PPTYS INC | [RHP](https://holderbook.com/stocks/RHP/) | $31.6M | 245,684 | 0.6% | 10 |
| QUEST DIAGNOSTICS INC | [DGX](https://holderbook.com/stocks/DGX/) | $30.7M | 144,784 | 0.6% | 31 |
| UTZ BRANDS INC | [UTZ](https://holderbook.com/stocks/UTZ/) | $30.5M | 3,958,637 | 0.6% | 18 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $30.0M | 103,808 | 0.6% | 31 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $28.9M | 76,414 | 0.6% | 31 |
| NEW YORK TIMES CO MTN BE | [NYT](https://holderbook.com/stocks/NYT/) | $28.6M | 408,307 | 0.6% | 6 |
| BADGER METER INC | [BMI](https://holderbook.com/stocks/BMI/) | $28.3M | 190,906 | 0.6% | 8 |
| DICKS SPORTING GOODS INC | [DKS](https://holderbook.com/stocks/DKS/) | $27.5M | 121,433 | 0.6% | 13 |
| TD SYNNEX CORPORATION | [SNX](https://holderbook.com/stocks/SNX/) | $27.5M | 102,824 | 0.6% | 2 |
| WINMARK CORP | [WINA](https://holderbook.com/stocks/WINA/) | $26.7M | 63,059 | 0.5% | 21 |
| HENRY JACK & ASSOC INC | [JKHY](https://holderbook.com/stocks/JKHY/) | $26.6M | 192,947 | 0.5% | 31 |
| NEXPOINT RESIDENTIAL TR INC | [NXRT](https://holderbook.com/stocks/NXRT/) | $25.1M | 899,504 | 0.5% | 31 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $25.1M | 125,508 | 0.5% | 1 |
| CARLISLE COS INC | [CSL](https://holderbook.com/stocks/CSL/) | $24.8M | 68,326 | 0.5% | 26 |
| PRIMERICA INC | [PRI](https://holderbook.com/stocks/PRI/) | $24.5M | 86,226 | 0.5% | 5 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $24.4M | 65,527 | 0.5% | 31 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $23.9M | 114,388 | 0.5% | 17 |
| TRANSUNION | [TRU](https://holderbook.com/stocks/TRU/) | $23.7M | 328,552 | 0.5% | 13 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $23.6M | 54,547 | 0.5% | 4 |
| CASEYS GEN STORES INC | [CASY](https://holderbook.com/stocks/CASY/) | $23.4M | 29,471 | 0.5% | 31 |
| CHURCHILL DOWNS INC | [CHDN](https://holderbook.com/stocks/CHDN/) | $23.4M | 261,117 | 0.5% | 21 |
| ROYAL GOLD INC | [RGLD](https://holderbook.com/stocks/RGLD/) | $23.4M | 117,111 | 0.5% | 7 |
| ACUITY INC | [AYI](https://holderbook.com/stocks/AYI/) | $22.9M | 60,802 | 0.5% | 2 |
| APTARGROUP INC | [ATR](https://holderbook.com/stocks/ATR/) | $22.4M | 178,533 | 0.5% | 4 |
| ISHARES TR | [IWR](https://holderbook.com/stocks/IWR/) | $22.2M | 201,371 | 0.5% | 1 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $22.0M | 45,975 | 0.5% | 7 |
| FIRSTCASH HOLDINGS INC | [FCFS](https://holderbook.com/stocks/FCFS/) | $21.4M | 98,959 | 0.4% | 1 |
| WILLIS LEASE FIN CORP | [WLFC](https://holderbook.com/stocks/WLFC/) | $20.9M | 91,232 | 0.4% | 1 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $20.2M | 16,882 | 0.4% | 31 |
| GARRETT MOTION INC | [GTX](https://holderbook.com/stocks/GTX/) | $20.0M | 553,227 | 0.4% | 1 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $20.0M | 61,214 | 0.4% | 31 |
| GFL ENVIRONMENTAL INC | [GFL](https://holderbook.com/stocks/GFL/) | $19.7M | 534,896 | 0.4% | 19 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $19.6M | 111,382 | 0.4% | 31 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $19.6M | 57,105 | 0.4% | 31 |
| VERALTO CORP | [VLTO](https://holderbook.com/stocks/VLTO/) | $19.2M | 216,780 | 0.4% | 2 |
| SOLSTICE ADVANCED MATLS INC | [SOLS](https://holderbook.com/stocks/SOLS/) | $19.2M | 216,366 | 0.4% | 1 |
| ABM INDS INC | [ABM](https://holderbook.com/stocks/ABM/) | $18.3M | 414,038 | 0.4% | 1 |
| VERTIV HOLDINGS CO | [VRT](https://holderbook.com/stocks/VRT/) | $18.2M | 54,279 | 0.4% | 8 |
| MONOLITHIC PWR SYS INC | [MPWR](https://holderbook.com/stocks/MPWR/) | $17.5M | 12,625 | 0.4% | 18 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +12.5% | +14.8% | -2.4% | 100% |
| Q1 2026 | +2.6% | -4.6% | +7.2% | 100% |
| Q4 2025 | -1.5% | +2.4% | -3.9% | 100% |
| Q3 2025 | +3.5% | +7.8% | -4.4% | 100% |
| Q2 2025 | +4.8% | +10.5% | -5.7% | 100% |
| Q1 2025 | -6.4% | -4.6% | -1.9% | 100% |
| Q4 2024 | -5.0% | +2.1% | -7.1% | 100% |
| Q3 2024 | +7.1% | +5.4% | +1.6% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $4.9B | 265 |
| Q1 2026 | $4.5B | 257 |
| Q4 2025 | $4.5B | 297 |
| Q3 2025 | $4.8B | 292 |
| Q2 2025 | $4.9B | 287 |
| Q1 2025 | $5.0B | 283 |
| Q4 2024 | $5.4B | 294 |
| Q3 2024 | $5.7B | 279 |
| Q2 2024 | $5.3B | 146 |
| Q1 2024 | $5.5B | 272 |
| Q4 2023 | $5.0B | 278 |
| Q3 2023 | $4.7B | 290 |