NS Partners International Equity Focus Fund

Quarterly Portfolio Disclosures

As of December 31, 2025

Summary of
Investment Portfolio

% of Net
Asset Value
Energy
2.34
Materials
6.75
Industrials
20.87
Consumer Discretionary
8.23
Consumer Staples
8.22
Health Care
12.05
Financials
21.62
Information Technology
9.85
Communication Services
5.53
Utilities
3.06
Real Estate
2.29
Cash
-0.81
Bonds
0.00

Top 25 Holdings

% of Net
Asset Value
Astrazeneca PLC
3.91
Caixabank S.A
3.26
Rio Tinto Ltd.
3.21
Mitsubishi UFJ Financial Group
3.09
SSE PLC
3.06
Kbc Groep Nv
3.00
Roche Holdings
2.76
Natwest Group PLC
2.36
Shell PLC
2.34
Schneider Electric Sa
2.32
Danone
2.30
Lonza Group Ag-Reg
2.29
Goodman Group
2.29
KPN NV
2.24
Hannover Rueckversicheru-Reg
2.21
Siemens AG
2.17
AIA Group Ltd
2.17
SAP SE
2.15
Unilever PLC
2.05
Safran Sa
1.97
Hoya Corp
1.95
Sony Group Corp
1.92
Hitachi Ltd
1.84
East Japan Railway Co.
1.78
Keyence Corp
1.75

For further information, please contact Connor, Clark & Lunn Funds Inc. Toll Free at 1-888-824-3120.

The Summary of Investment Portfolio may change due to ongoing portfolio transactions of the Fund. Updates are available quarterly. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

CC&L Funds Inc.
January 2, 2025