Portfolio Update

Summary by AI ^BETAClose X

As of November 30, 2025, The Global Smaller Companies Trust PLC's top ten holdings, including collective funds, represent 26.2% of its gross assets, with the Schroder ISF Global Emerging Markets Smaller Companies Fund at 4.4% and Pinebridge Asia ex Japan Small Cap Fund at 4.3%. Excluding collective funds, the top ten equity holdings total 15.8%, led by Wheaton Precious Metals at 2.4% and The Ensign Group at 2.0%. Geographically, North America constitutes the largest portion of the trust's assets at 43.0%, followed by the UK at 17.3%, with net gearing reported at 4.51%.

Disclaimer*

Global Smaller Cos. Trust PLC (The)

16 December 2025

THE GLOBAL SMALLER COMPANIES TRUST PLC

LEI: 2138008RRULYQP8VP386

All data as at 30 November 2025

This data will shortly be available on the Company's website www.globalsmallercompanies.co.uk

Top Ten Holdings*					%
Schroder ISF Global Emerging Markets Smaller Companies Fund					4.4
Pinebridge Asia ex Japan Small Cap Fund					4.3
The Scottish Oriental Smaller Companies Trust					3.9
Utilico Emerging Markets Trust					3.1
Wheaton Precious Metals					2.4
The Ensign Group					2.0
Kirby					1.6
Martin Marietta Materials					1.5
Curtiss Wright					1.5
Encompass Health					1.5
Total					26.2

Top Ten Equity Holdings (excluding collective funds)					%
Wheaton Precious Metals					2.4
The Ensign Group					2.0
Kirby					1.6
Martin Marietta Materials					1.5
Curtiss Wright					1.5
Encompass Health					1.5
Boot Barn Holdings					1.5
Eagle Materials					1.3
WSP Global					1.3
Brixmor Property Group					1.2
Total					15.8

Trust Geographical Breakdown					%
North America					43.0
UK					17.3
Rest of World					15.6
Japan					12.2
Continental Europe					10.2
Cash & Fixed Interest					1.7
Total					100.0

Note: All percentages are based on Gross Assets

* The portfolio obtains exposure in the Rest of World (Asia, Latin America and some other smaller markets outside the main regions) through a number of third party managed funds as opposed to individual holdings. Columbia Threadneedle Investments is responsible for selecting the appropriate funds to use for these markets.

Net Gearing				4.51%

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