Portfolio Update

Summary by AI ^BETAClose X

As of December 31, 2025, The Global Smaller Companies Trust PLC reported its top ten holdings, with the Schroder ISF Global Emerging Markets Smaller Companies Fund at 4.6% and The Scottish Oriental Smaller Companies Trust at 3.9%. Excluding collective funds, Wheaton Precious Metals represented 2.6% of the top ten equity holdings. Geographically, North America constitutes the largest portion of the trust's assets at 42.1%, followed by the UK at 17.9%. The trust's net gearing stood at 4.81%.

Disclaimer*

Global Smaller Cos. Trust PLC (The)

21 January 2026

THE GLOBAL SMALLER COMPANIES TRUST PLC

LEI: 2138008RRULYQP8VP386

All data as at 31 December 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					4.6
The Scottish Oriental Smaller Companies Trust					3.9
Pinebridge Asia ex Japan Small Cap Fund					3.9
Utilico Emerging Markets Trust					3.2
Wheaton Precious Metals					2.6
The Ensign Group					1.7
Kirby					1.5
Martin Marietta Materials					1.5
Encompass Health					1.3
Boot Barn Holdings					1.3
Total					25.5

Top Ten Equity Holdings (excluding collective funds)					%
Wheaton Precious Metals					2.6
The Ensign Group					1.7
Kirby					1.5
Martin Marietta Materials					1.5
Encompass Health					1.3
Boot Barn Holdings					1.3
Curtiss Wright					1.3
WSP Global					1.3
Brixmor Property Group					1.2
Eagle Materials					1.2
Total					14.9

Trust Geographical Breakdown					%
North America					42.1
UK					17.9
Rest of World					15.7
Japan					12.1
Continental Europe					10.7
Cash & Fixed Interest					1.5
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				4.81%

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