Oberweis Micro-Cap Fund
Schedule of Investments (unaudited)
March 31, 2024
Shares | Value | |||||||||||
Equities | 97.3 | % | ||||||||||
Automobile Components | 2.2 | % | ||||||||||
Gentherm, Inc.* | 73,500 | $ | 4,232,130 | |||||||||
Modine Manufacturing Co.* | 64,500 | 6,139,755 | ||||||||||
10,371,885 | ||||||||||||
Banks | 2.8 | % | ||||||||||
1st Source Corp. | 63,900 | 3,349,638 | ||||||||||
Mercantile Bank Corp. | 66,000 | 2,540,340 | ||||||||||
Preferred Bank | 95,000 | 7,293,150 | ||||||||||
13,183,128 | ||||||||||||
Beverages | 0.7 | % | ||||||||||
The Vita Coco Co., Inc.* | 141,500 | 3,456,845 | ||||||||||
Biotechnology | 8.6 | % | ||||||||||
ADMA Biologics, Inc.* | 2,790,700 | 18,418,620 | ||||||||||
Catalyst Pharmaceuticals, Inc.* | 458,400 | 7,306,896 | ||||||||||
Dynavax Technologies Corp.* | 462,700 | 5,742,107 | ||||||||||
MannKind Corp.* | 798,800 | 3,618,564 | ||||||||||
Veracyte, Inc.* | 251,200 | 5,566,592 | ||||||||||
40,652,779 | ||||||||||||
Building Products | 0.9 | % | ||||||||||
JELD WEN Hldg., Inc.* | 192,600 | 4,088,898 | ||||||||||
Chemicals | 0.6 | % | ||||||||||
Hawkins, Inc. | 37,200 | 2,856,960 | ||||||||||
Commercial Services & Supplies | 4.7 | % | ||||||||||
Aris Water Solutions, Inc. | 195,200 | 2,762,080 | ||||||||||
CECO Environmental Corp.* | 463,400 | 10,667,468 | ||||||||||
HNI Corp. | 83,400 | 3,763,842 | ||||||||||
VSE Corp. | 66,300 | 5,304,000 | ||||||||||
22,497,390 | ||||||||||||
Communications Equipment | 4.1 | % | ||||||||||
Applied Optoelectronics, Inc.* | 849,615 | 11,775,664 | ||||||||||
Aviat Networks, Inc.* | 199,307 | 7,641,430 | ||||||||||
19,417,094 | ||||||||||||
Construction & Engineering | 6.1 | % | ||||||||||
Limbach Hldgs., Inc.* | 164,800 | 6,826,016 | ||||||||||
Matrix Service Co.* | 198,500 | 2,586,455 | ||||||||||
Primoris Services Corp. | 209,900 | 8,935,443 | ||||||||||
Sterling Construction Co., Inc.* | 96,600 | 10,655,946 | ||||||||||
29,003,860 | ||||||||||||
Consumer Finance | 1.6 | % | ||||||||||
EZCORP, Inc.* | 685,500 | 7,766,715 | ||||||||||
Diversified Consumer Services | 1.2 | % | ||||||||||
OneSpaWorld Hldgs. Ltd.* | 420,400 | 5,561,892 | ||||||||||
Electrical Equipment | 2.3 | % | ||||||||||
American Superconductor Corp.* | 634,400 | 8,570,744 | ||||||||||
Powell Industries, Inc. | 16,800 | 2,390,640 | ||||||||||
10,961,384 | ||||||||||||
Electronic Equipment, Instruments & Components | 0.7 | % | ||||||||||
Arlo Technologies, Inc.* | 273,400 | 3,458,510 | ||||||||||
Energy Equipment & Services | 2.8 | % | ||||||||||
Helix Energy Solutions Group, Inc.* | 407,500 | 4,417,300 | ||||||||||
Precision Drilling Corp.* | 59,700 | 4,017,213 | ||||||||||
RPC, Inc. | 604,600 | 4,679,604 | ||||||||||
13,114,117 | ||||||||||||
Entertainment | 0.8 | % | ||||||||||
IMAX Corp.* | 236,200 | 3,819,354 | ||||||||||
Healthcare Equipment & Supplies | 7.4 | % | ||||||||||
Alphatec Hldgs., Inc.* | 510,500 | 7,039,795 | ||||||||||
Artivion, Inc.* | 282,400 | 5,975,584 | ||||||||||
Axogen, Inc.* | 286,400 | 2,311,248 | ||||||||||
LeMaitre Vascular, Inc. | 68,500 | 4,545,660 | ||||||||||
RxSight, Inc.* | 107,600 | 5,550,008 | ||||||||||
SI BONE, Inc.* | 310,400 | 5,081,248 | ||||||||||
TransMedics Group, Inc.* | 63,300 | 4,680,402 | ||||||||||
35,183,945 | ||||||||||||
Healthcare Providers & Services | 1.3 | % | ||||||||||
PetIQ, Inc.* | 340,700 | 6,227,996 | ||||||||||
Hotels, Restaurants & Leisure | 3.4 | % | ||||||||||
BJ's Restaurants, Inc.* | 63,600 | 2,301,048 | ||||||||||
Playa Hotels & Resorts NV* | 751,500 | 7,289,550 | ||||||||||
Rush Street Interactive, Inc.* | 776,700 | 5,056,317 | ||||||||||
Sweetgreen, Inc.* | 67,101 | 1,694,971 | ||||||||||
16,341,886 | ||||||||||||
Household Durables | 1.0 | % | ||||||||||
M/I Homes, Inc.* | 36,200 | 4,933,698 | ||||||||||
Information Technology Services | 1.3 | % | ||||||||||
Backblaze, Inc.* | 357,800 | 3,660,294 | ||||||||||
Couchbase, Inc.* | 87,800 | 2,310,018 | ||||||||||
5,970,312 | ||||||||||||
Insurance | 1.7 | % | ||||||||||
Employers Hldgs., Inc. | 86,100 | 3,908,079 | ||||||||||
Skyward Specialty Insurance Group, Inc.* | 115,700 | 4,328,337 | ||||||||||
8,236,416 | ||||||||||||
Life Sciences Tools & Services | 0.5 | % | ||||||||||
Quanterix Corp.* | 99,700 | 2,348,932 | ||||||||||
Machinery | 4.9 | % | ||||||||||
Blue Bird Corp.* | 299,100 | 11,467,494 | ||||||||||
Enerpac Tool Group Corp.* | 77,300 | 2,756,518 | ||||||||||
Proto Labs, Inc.* | 97,500 | 3,485,625 | ||||||||||
REV Group, Inc. | 126,300 | 2,789,967 | ||||||||||
The Gorman-Rupp Corp. | 68,900 | 2,724,995 | ||||||||||
23,224,599 | ||||||||||||
Oil, Gas & Consumable Fuels | 1.8 | % | ||||||||||
Dorian LPG Ltd. | 75,500 | 2,903,730 | ||||||||||
Vital Energy, Inc.* | 109,400 | 5,747,876 | ||||||||||
8,651,606 | ||||||||||||
Paper & Forest Products | 1.0 | % | ||||||||||
Clearwater Paper Corp.* | 112,200 | 4,906,506 | ||||||||||
Passenger Airlines | 1.0 | % | ||||||||||
Sun Country Airlines Hldgs., Inc.* | 325,600 | 4,913,304 | ||||||||||
Pharmaceuticals | 3.5 | % | ||||||||||
Amphastar Pharmaceuticals, Inc.* | 129,100 | 5,668,781 | ||||||||||
ANI Pharmaceuticals, Inc.* | 43,500 | 3,007,155 | ||||||||||
Evolus, Inc.* | 397,300 | 5,562,200 | ||||||||||
Liquidia Corp.* | 150,000 | 2,212,500 | ||||||||||
16,450,636 | ||||||||||||
Professional Services | 3.5 | % | ||||||||||
Huron Consulting Group, Inc.* | 49,200 | 4,753,704 | ||||||||||
ICF International, Inc. | 41,100 | 6,190,893 | ||||||||||
Upwork, Inc.* | 469,200 | 5,752,392 | ||||||||||
16,696,989 | ||||||||||||
Semiconductors & Semiconductor Equipment | 17.4 | % | ||||||||||
ACM Research, Inc.* | 416,500 | 12,136,810 | ||||||||||
Aehr Test Systems* | 534,400 | 6,626,560 | ||||||||||
Axcelis Technologies, Inc.* | 50,400 | 5,620,608 | ||||||||||
Camtek Ltd.* | 178,180 | 14,926,139 | ||||||||||
Navitas Semiconductor Corp.* | 806,600 | 3,847,482 | ||||||||||
Photronics, Inc.* | 256,100 | 7,252,752 | ||||||||||
Silicon Motion Technology Corp. ADS | 106,900 | 8,224,886 | ||||||||||
Ultra Clean Hldgs., Inc.* | 319,600 | 14,682,424 | ||||||||||
Veeco Instruments, Inc.* | 269,100 | 9,464,247 | ||||||||||
82,781,908 | ||||||||||||
Software | 2.8 | % | ||||||||||
AvePoint, Inc.* | 266,800 | 2,113,056 | ||||||||||
Cellebrite DI Ltd.* | 397,900 | 4,408,732 | ||||||||||
Weave Communications, Inc.* | 609,400 | 6,995,912 | ||||||||||
13,517,700 | ||||||||||||
Specialty Retail | 1.1 | % | ||||||||||
Boot Barn Hldgs., Inc.* | 54,400 | 5,176,160 | ||||||||||
Textiles, Apparel & Luxury Goods | 1.9 | % | ||||||||||
G-III Apparel Group Ltd.* | 220,900 | 6,408,309 | ||||||||||
Oxford Industries, Inc. | 23,400 | 2,630,160 | ||||||||||
9,038,469 | ||||||||||||
Trading Co. & Distribution | 1.7 | % | ||||||||||
H&E Equipment Services, Inc. | 69,500 | 4,460,510 | ||||||||||
Transcat, Inc.* | 29,100 | 3,242,613 | ||||||||||
7,703,123 | ||||||||||||
Total Equities | ||||||||||||
(Cost: $374,581,120) | $ | 462,514,996 | ||||||||||
Total Investments | 97.3 | % | ||||||||||
(Cost: $374,581,120) | $ | 462,514,996 | ||||||||||
Other Assets Less Liabilities | 2.7 | % | 12,796,627 | |||||||||
Net Assets - 100% | $ | 475,311,623 |
* | Non-income producing security during the period ended March 31, 2024 |
ADS - American depositary share
Oberweis Small-Cap Opportunities Fund
Schedule of Investments (unaudited)
March 31, 2024
Shares | Value | |||||||||||
Equities | 97.4 | % | ||||||||||
Aerospace & Defense | 3.2 | % | ||||||||||
AeroVironment, Inc.* | 101,500 | $ | 15,557,920 | |||||||||
Woodward, Inc. | 68,400 | 10,541,808 | ||||||||||
26,099,728 | ||||||||||||
Banks | 0.5 | % | ||||||||||
First Merchants Corp. | 123,400 | 4,306,660 | ||||||||||
Beverages | 0.7 | % | ||||||||||
Primo Water Corp. | 323,500 | 5,890,935 | ||||||||||
Biotechnology | 1.6 | % | ||||||||||
Krystal Biotech, Inc.* | 35,700 | 6,352,101 | ||||||||||
Veracyte, Inc.* | 307,900 | 6,823,064 | ||||||||||
13,175,165 | ||||||||||||
Building Products | 5.0 | % | ||||||||||
AAON, Inc. | 48,400 | 4,264,040 | ||||||||||
Gibraltar Industries, Inc.* | 52,800 | 4,251,984 | ||||||||||
Janus International Group, Inc.* | 695,400 | 10,521,402 | ||||||||||
Simpson Manufacturing Co., Inc. | 24,800 | 5,088,464 | ||||||||||
The AZEK Co., Inc.* | 220,900 | 11,093,598 | ||||||||||
Trex Co., Inc.* | 60,100 | 5,994,975 | ||||||||||
41,214,463 | ||||||||||||
Chemicals | 2.0 | % | ||||||||||
Cabot Corp. | 92,100 | 8,491,620 | ||||||||||
Quaker Chemical Corp. | 40,500 | 8,312,625 | ||||||||||
16,804,245 | ||||||||||||
Commercial Services & Supplies | 2.6 | % | ||||||||||
Clean Harbors, Inc.* | 63,300 | 12,742,923 | ||||||||||
MSA Safety, Inc. | 44,200 | 8,556,678 | ||||||||||
21,299,601 | ||||||||||||
Construction & Engineering | 1.3 | % | ||||||||||
Comfort Systems USA, Inc. | 19,800 | 6,290,658 | ||||||||||
Dycom Industries, Inc.* | 29,000 | 4,162,370 | ||||||||||
10,453,028 | ||||||||||||
Consumer Finance | 1.4 | % | ||||||||||
FirstCash Hldgs., Inc. | 91,700 | 11,695,418 | ||||||||||
Consumer Staples Distribution & Retail | 1.5 | % | ||||||||||
Grocery Outlet Hldg. Corp.* | 296,000 | 8,518,880 | ||||||||||
Sprouts Farmers Market, Inc.* | 64,700 | 4,171,856 | ||||||||||
12,690,736 | ||||||||||||
Diversified Consumer Services | 2.7 | % | ||||||||||
Duolingo, Inc.* | 18,900 | 4,168,962 | ||||||||||
Frontdoor, Inc.* | 260,200 | 8,477,316 | ||||||||||
Grand Canyon Education, Inc.* | 43,200 | 5,884,272 | ||||||||||
Stride, Inc.* | 66,000 | 4,161,300 | ||||||||||
22,691,850 | ||||||||||||
Electrical Equipment | 3.7 | % | ||||||||||
NEXTracker, Inc.* | 235,700 | 13,262,839 | ||||||||||
Vertiv Hldgs. Co. | 211,400 | 17,265,038 | ||||||||||
30,527,877 | ||||||||||||
Electronic Equipment, Instruments & Components | 2.9 | % | ||||||||||
Fabrinet* | 21,900 | 4,139,538 | ||||||||||
Itron, Inc.* | 125,600 | 11,620,512 | ||||||||||
OSI Systems, Inc.* | 55,300 | 7,897,946 | ||||||||||
23,657,996 | ||||||||||||
Energy Equipment & Services | 3.9 | % | ||||||||||
Liberty Energy, Inc. | 236,300 | 4,896,136 | ||||||||||
NOV, Inc. | 216,900 | 4,233,888 | ||||||||||
Weatherford International PLC* | 198,500 | 22,910,870 | ||||||||||
32,040,894 | ||||||||||||
Healthcare Equipment & Supplies | 8.8 | % | ||||||||||
Alphatec Hldgs., Inc.* | 587,400 | 8,100,246 | ||||||||||
Axonics, Inc.* | 145,400 | 10,028,238 | ||||||||||
Haemonetics Corp.* | 133,900 | 11,428,365 | ||||||||||
Integer Hldgs. Corp.* | 96,700 | 11,282,956 | ||||||||||
LivaNova PLC* | 202,500 | 11,327,850 | ||||||||||
Merit Medical Systems, Inc.* | 139,300 | 10,551,975 | ||||||||||
TransMedics Group, Inc.* | 134,900 | 9,974,506 | ||||||||||
72,694,136 | ||||||||||||
Healthcare Providers & Services | 5.2 | % | ||||||||||
Acadia Healthcare Co., Inc.* | 143,300 | 11,352,226 | ||||||||||
Encompass Health Corp. | 192,400 | 15,888,392 | ||||||||||
HealthEquity, Inc.* | 51,300 | 4,187,619 | ||||||||||
NeoGenomics, Inc.* | 737,200 | 11,588,784 | ||||||||||
43,017,021 | ||||||||||||
Healthcare Technology | 1.1 | % | ||||||||||
Evolent Health, Inc.* | 282,500 | 9,263,175 | ||||||||||
Hotels, Restaurants & Leisure | 2.2 | % | ||||||||||
Light & Wonder, Inc.* | 42,600 | 4,349,034 | ||||||||||
Monarch Casino and Resort, Inc. | 86,200 | 6,464,138 | ||||||||||
Wingstop, Inc. | 20,000 | 7,328,000 | ||||||||||
18,141,172 | ||||||||||||
Household Durables | 4.1 | % | ||||||||||
Century Communities, Inc. | 121,200 | 11,695,800 | ||||||||||
Installed Building Products, Inc. | 30,400 | 7,865,392 | ||||||||||
SharkNinja, Inc.* | 235,200 | 14,650,608 | ||||||||||
34,211,800 | ||||||||||||
Insurance | 1.6 | % | ||||||||||
Assurant, Inc. | 45,000 | 8,470,800 | ||||||||||
Oscar Health, Inc.* | 295,000 | 4,386,650 | ||||||||||
12,857,450 | ||||||||||||
Machinery | 7.1 | % | ||||||||||
Esab Corp. | 129,200 | 14,285,644 | ||||||||||
Federal Signal Corp. | 127,700 | 10,837,899 | ||||||||||
Flowserve Corp. | 237,700 | 10,858,136 | ||||||||||
Oshkosh Corp. | 111,700 | 13,930,107 | ||||||||||
SPX Technologies, Inc.* | 69,000 | 8,495,970 | ||||||||||
58,407,756 | ||||||||||||
Metals & Mining | 1.4 | % | ||||||||||
ATI, Inc.* | 141,900 | 7,261,023 | ||||||||||
Carpenter Technology Corp. | 61,800 | 4,413,756 | ||||||||||
11,674,779 | ||||||||||||
Oil, Gas & Consumable Fuels | 2.5 | % | ||||||||||
International Seaways, Inc. | 198,700 | 10,570,840 | ||||||||||
Magnolia Oil & Gas Corp. | 184,600 | 4,790,370 | ||||||||||
Matador Resources Co. | 82,400 | 5,501,848 | ||||||||||
20,863,058 | ||||||||||||
Passenger Airlines | 2.0 | % | ||||||||||
SkyWest, Inc.* | 243,100 | 16,793,348 | ||||||||||
Personal Care Products | 1.8 | % | ||||||||||
elf Beauty, Inc.* | 40,800 | 7,998,024 | ||||||||||
Inter Parfums, Inc. | 48,300 | 6,786,633 | ||||||||||
14,784,657 | ||||||||||||
Pharmaceuticals | 1.3 | % | ||||||||||
Amphastar Pharmaceuticals, Inc.* | 245,400 | 10,775,514 | ||||||||||
Professional Services | 4.0 | % | ||||||||||
ExlService Hldgs., Inc.* | 133,200 | 4,235,760 | ||||||||||
ICF International, Inc. | 55,800 | 8,405,154 | ||||||||||
Maximus, Inc. | 89,700 | 7,525,830 | ||||||||||
Parsons Corp.* | 151,300 | 12,550,335 | ||||||||||
32,717,079 | ||||||||||||
Semiconductors & Semiconductor Equipment | 11.0 | % | ||||||||||
Aehr Test Systems* | 412,942 | 5,120,481 | ||||||||||
Allegro MicroSystems, Inc.* | 200,000 | 5,392,000 | ||||||||||
Axcelis Technologies, Inc.* | 130,400 | 14,542,208 | ||||||||||
Credo Technology Group Hldg. Ltd.* | 321,900 | 6,821,061 | ||||||||||
FormFactor, Inc.* | 236,700 | 10,800,621 | ||||||||||
Onto Innovation, Inc.* | 93,100 | 16,858,548 | ||||||||||
Silicon Laboratories, Inc.* ADS | 78,000 | 11,210,160 | ||||||||||
Silicon Motion Technology Corp.* | 110,500 | 8,501,870 | ||||||||||
Universal Display Corp. | 67,100 | 11,302,995 | ||||||||||
90,549,944 | ||||||||||||
Software | 7.4 | % | ||||||||||
ACI Worldwide, Inc.* | 344,562 | 11,442,904 | ||||||||||
Blackbaud, Inc.* | 57,300 | 4,248,222 | ||||||||||
Clear Secure, Inc. | 500,500 | 10,645,635 | ||||||||||
Informatica, Inc.* | 309,000 | 10,815,000 | ||||||||||
LiveRamp Hldgs., Inc.* | 247,600 | 8,542,200 | ||||||||||
Rapid7, Inc.* | 94,500 | 4,634,280 | ||||||||||
Zeta Global Hldgs. Corp.* | 1,003,000 | 10,962,790 | ||||||||||
61,291,031 | ||||||||||||
Specialty Retail | 0.7 | % | ||||||||||
Abercrombie & Fitch Co.* | 48,100 | 6,028,373 | ||||||||||
Textiles, Apparel & Luxury Goods | 2.2 | % | ||||||||||
Crocs, Inc.* | 84,200 | 12,107,960 | ||||||||||
Deckers Outdoor Corp.* | 7,200 | 6,777,072 | ||||||||||
18,885,032 | ||||||||||||
Total Equities | ||||||||||||
(Cost: $687,950,777) | $ | 805,503,921 | ||||||||||
Total Investments | 97.4 | % | ||||||||||
(Cost: $687,950,777) | $ | 805,503,921 | ||||||||||
Other Assets Less Liabilities | 2.6 | % | 21,412,129 | |||||||||
Net Assets - 100% | $ | 826,916,050 |
* | Non-income producing security during the period ended March 31, 2024 |
ADS - American depositary share
Oberweis Global Opportunities Fund
Schedule of Investments (unaudited)
March 31, 2024
Shares | Value | |||||||||||
Equities | 98.1 | % | ||||||||||
Argentina | 0.9 | % | ||||||||||
Arcos Dorados Hldgs., Inc. | 43,800 | $ | 487,056 | |||||||||
Australia | 2.6 | % | ||||||||||
James Hardie Industries PLC* | 35,800 | 1,437,271 | ||||||||||
Canada | 3.2 | % | ||||||||||
ATS Corp.* | 25,000 | 841,208 | ||||||||||
Stantec, Inc. | 11,200 | 929,833 | ||||||||||
1,771,041 | ||||||||||||
China | 1.6 | % | ||||||||||
New Oriental Education & Technology Group, Inc.* | 100,000 | 870,715 | ||||||||||
Finland | 1.3 | % | ||||||||||
Kemira Oyj | 38,000 | 718,265 | ||||||||||
France | 1.1 | % | ||||||||||
Sopra Steria Group SA* | 2,600 | 629,453 | ||||||||||
Germany | 1.0 | % | ||||||||||
Gerresheimer AG* | 5,000 | 563,168 | ||||||||||
India | 2.2 | % | ||||||||||
Federal Bank Ltd.* | 320,000 | 576,290 | ||||||||||
TVS Motor Co. Ltd. | 25,000 | 645,020 | ||||||||||
1,221,310 | ||||||||||||
Indonesia | 1.3 | % | ||||||||||
PT Sumber Alfaria Trijaya Tbk* | 3,899,900 | 715,781 | ||||||||||
Japan | 11.9 | % | ||||||||||
Asics Corp. | 22,100 | 1,037,407 | ||||||||||
Daiwa Securities Group, Inc. | 75,300 | 570,048 | ||||||||||
Fuji Electric Co. Ltd. | 40,700 | 2,715,484 | ||||||||||
Santen Pharmaceutical Co. Ltd. | 80,000 | 785,573 | ||||||||||
Yamazaki Baking Co. Ltd.* | 54,800 | 1,411,449 | ||||||||||
6,519,961 | ||||||||||||
Norway | 2.7 | % | ||||||||||
Kongsberg Gruppen ASA* | 10,000 | 690,479 | ||||||||||
Subsea 7 SA* | 50,000 | 799,762 | ||||||||||
1,490,241 | ||||||||||||
South Korea | 1.3 | % | ||||||||||
Park Systems Corp.* | 6,300 | 710,373 | ||||||||||
Sweden | 2.3 | % | ||||||||||
Saab AB* | 14,300 | 1,271,824 | ||||||||||
Switzerland | 2.2 | % | ||||||||||
Accelleron Industries AG* | 31,600 | 1,183,555 | ||||||||||
Taiwan | 3.5 | % | ||||||||||
Alchip Technologies Ltd.* | 6,000 | 593,373 | ||||||||||
eMemory Technology, Inc.* | 10,000 | 749,918 | ||||||||||
M31 Technology Corp.* | 13,800 | 554,096 | ||||||||||
1,897,387 | ||||||||||||
United Kingdom | 13.0 | % | ||||||||||
Ashtead Technology Hldgs. PLC* | 332,400 | 3,188,489 | ||||||||||
Cranswick PLC | 16,500 | 853,010 | ||||||||||
Games Workshop Group PLC | 6,200 | 785,662 | ||||||||||
Intermediate Capital Group PLC* | 23,700 | 614,411 | ||||||||||
Marks & Spencer Group PLC* | 272,200 | 910,769 | ||||||||||
The Sage Group PLC* | 50,000 | 798,624 | ||||||||||
7,150,965 | ||||||||||||
United States of America | 46.0 | % | ||||||||||
Acadia Healthcare Co., Inc.* | 7,600 | 602,072 | ||||||||||
ACM Research, Inc.* | 22,400 | 652,736 | ||||||||||
Alphatec Hldgs., Inc.* | 175,800 | 2,424,282 | ||||||||||
Amphastar Pharmaceuticals, Inc.* | 20,100 | 882,591 | ||||||||||
Axcelis Technologies, Inc.* | 12,329 | 1,374,930 | ||||||||||
Clean Harbors, Inc.* | 7,900 | 1,590,349 | ||||||||||
Deckers Outdoor Corp.* | 700 | 658,882 | ||||||||||
ELF Beauty, Inc.* | 2,700 | 529,281 | ||||||||||
Evolent Health, Inc.* | 29,600 | 970,584 | ||||||||||
Flowserve Corp. | 15,100 | 689,768 | ||||||||||
LeMaitre Vascular, Inc. | 10,400 | 690,144 | ||||||||||
LiveRamp Hldgs., Inc.* | 27,100 | 934,950 | ||||||||||
Merit Medical Systems, Inc.* | 7,500 | 568,125 | ||||||||||
Onto Innovation, Inc.* | 8,000 | 1,448,640 | ||||||||||
Oshkosh Corp. | 9,500 | 1,184,745 | ||||||||||
Parsons Corp.* | 18,800 | 1,559,460 | ||||||||||
RPC, Inc. | 159,000 | 1,230,660 | ||||||||||
RxSight, Inc.* | 17,000 | 876,860 | ||||||||||
SkyWest, Inc.* | 18,200 | 1,257,256 | ||||||||||
Sweetgreen, Inc.* | 27,800 | 702,228 | ||||||||||
The Vita Coco Co, Inc.* | 21,200 | 517,916 | ||||||||||
Universal Display Corp. | 3,100 | 522,195 | ||||||||||
Veracyte, Inc.* | 67,100 | 1,486,936 | ||||||||||
Weatherford International PLC* | 9,400 | 1,084,948 | ||||||||||
Zeta Global Hldgs. Corp.* | 74,600 | 815,378 | ||||||||||
25,255,916 | ||||||||||||
Total Equities | ||||||||||||
(Cost: $45,795,372) | $ | 53,894,282 | ||||||||||
Total Investments | 98.1 | % | ||||||||||
(Cost: $45,795,372) | $ | 53,894,282 | ||||||||||
Other Assets Less Liabilities | 1.9 | % | 1,047,574 | |||||||||
Net Assets - 100% | $ | 54,941,856 |
* | Non-income producing security during the period ended March 31, 2024 |
SECTOR ALLOCATIONS (As a Percentage of Net Assets) | ||||
Consumer Discretionary | 9.4 | % | ||
Consumer Staples | 9.0 | % | ||
Energy | 5.7 | % | ||
Financials | 3.2 | % | ||
Healthcare | 17.9 | % | ||
Industrials | 31.1 | % | ||
Information Technology | 17.8 | % | ||
Materials | 4.0 | % |
Oberweis China Opportunities Fund
Schedule of Investments (unaudited)
March 31, 2024
Shares | Value | |||||||||||
Equities | 100.0 | % | ||||||||||
Automobile Components | 3.8 | % | ||||||||||
Cheng Shin Rubber Industry Co. Ltd.* | 300,000 | $ | 465,887 | |||||||||
Tong Yang Industry Co. Ltd.* | 300,000 | 1,171,747 | ||||||||||
1,637,634 | ||||||||||||
Automobiles | 1.6 | % | ||||||||||
Li Auto, Inc. ADS* | 23,000 | 696,440 | ||||||||||
Biotechnology | 0.8 | % | ||||||||||
Legend Biotech Corp. ADS* | 6,000 | 336,540 | ||||||||||
Broadline Retail | 10.1 | % | ||||||||||
Alibaba Group Hldg. Ltd. | 230,000 | 2,064,355 | ||||||||||
MINISO Group Hldg. Ltd. ADS | 30,000 | 615,000 | ||||||||||
PDD Hldgs. ADS* | 14,500 | 1,685,625 | ||||||||||
4,364,980 | ||||||||||||
Chemicals | 2.0 | % | ||||||||||
Nan Pao Resins Chemical Co. Ltd.* | 90,000 | 881,622 | ||||||||||
Diversified Consumer Services | 5.8 | % | ||||||||||
New Oriental Education & Technology Group, Inc.* | 255,000 | 2,220,324 | ||||||||||
TAL Education Group ADS* | 25,000 | 283,750 | ||||||||||
2,504,074 | ||||||||||||
Electrical Equipment | 2.3 | % | ||||||||||
Fortune Electric Co. Ltd.* | 20,000 | 418,704 | ||||||||||
Shihlin Electric & Engineering Corp.* | 65,000 | 568,688 | ||||||||||
987,392 | ||||||||||||
Electronic Equipment, Instruments & Components | 6.1 | % | ||||||||||
Fositek Corp.* | 15,000 | 363,242 | ||||||||||
Gold Circuit Electronics Ltd.* | 95,000 | 725,780 | ||||||||||
Hexing Electrical Co. Ltd.* | 30,000 | 149,554 | ||||||||||
Hon Hai Precision Industry Co. Ltd.* | 200,000 | 971,769 | ||||||||||
WT Microelectronics Co. Ltd.* | 93,809 | 439,682 | ||||||||||
2,650,027 | ||||||||||||
Entertainment | 7.6 | % | ||||||||||
International Games System Co. Ltd.* | 15,000 | 527,286 | ||||||||||
NetEase, Inc. | 90,000 | 1,872,006 | ||||||||||
Tencent Music Entertainment Group ADS* | 80,000 | 895,200 | ||||||||||
3,294,492 | ||||||||||||
Hotels, Restaurants & Leisure | 9.5 | % | ||||||||||
H World Group Ltd. | 240,000 | 929,103 | ||||||||||
Meituan* | 80,000 | 989,408 | ||||||||||
Sands China Ltd.* | 150,000 | 422,581 | ||||||||||
Trip.com Group Ltd.* | 40,000 | 1,764,172 | ||||||||||
4,105,264 | ||||||||||||
Household Durables | 2.9 | % | ||||||||||
Beijing Roborock Technology Co. Ltd.* | 13,060 | 617,863 | ||||||||||
Hisense Home Appliances Group Co. Ltd.* | 200,000 | 622,213 | ||||||||||
1,240,076 | ||||||||||||
Information Technology Services | 0.7 | % | ||||||||||
GDS Hldgs. Ltd.* | 350,000 | 284,851 | ||||||||||
Interactive Media & Services | 5.2 | % | ||||||||||
Kanzhun Ltd. ADS* | 7,000 | 122,710 | ||||||||||
Tencent Hldgs. Ltd.* | 55,000 | 2,134,817 | ||||||||||
2,257,527 | ||||||||||||
Machinery | 3.6 | % | ||||||||||
Sinotruk Hong Kong Ltd.* | 200,000 | 491,127 | ||||||||||
Yangzijiang Shipbuilding Hldgs. Ltd.* | 650,000 | 919,425 | ||||||||||
Zhuzhou CRRC Times Electric Co. Ltd.* | 50,000 | 158,427 | ||||||||||
1,568,979 | ||||||||||||
Metals & Mining | 3.5 | % | ||||||||||
Aluminum Corp of China Ltd.* | 200,000 | 126,998 | ||||||||||
CMOC Group Ltd.* | 552,000 | 468,998 | ||||||||||
Zijin Mining Group Co. Ltd. | 450,000 | 898,056 | ||||||||||
1,494,052 | ||||||||||||
Oil, Gas & Consumable Fuels | 5.1 | % | ||||||||||
China Shenhua Energy Co. Ltd.* | 230,000 | 903,614 | ||||||||||
PetroChina Co. Ltd.* | 1,500,000 | 1,282,117 | ||||||||||
2,185,731 | ||||||||||||
Pharmaceuticals | 1.1 | % | ||||||||||
Hansoh Pharmaceutical Group Co. Ltd.* | 250,000 | 494,449 | ||||||||||
Semiconductors & Semiconductor Equipment | 20.2 | % | ||||||||||
Alchip Technologies Ltd.* | 6,000 | 593,373 | ||||||||||
ASMedia Technology, Inc.* | 18,000 | 1,299,233 | ||||||||||
ASMPT Ltd.* | 20,000 | 251,441 | ||||||||||
Elan Microelectronics Corp. | 140,000 | 702,111 | ||||||||||
Foxsemicon Integrated Technology, Inc.* | 60,000 | 561,501 | ||||||||||
King Yuan Electronics Co. Ltd.* | 220,000 | 728,670 | ||||||||||
M31 Technology Corp.* | 23,500 | 943,569 | ||||||||||
MediaTek, Inc. | 31,000 | 1,123,627 | ||||||||||
Taiwan Semiconductor Manufacturing Co. Ltd. ADS | 18,500 | 2,516,925 | ||||||||||
8,720,450 | ||||||||||||
Specialty Retail | 0.3 | % | ||||||||||
Pop Mart International Group Ltd.* | 40,000 | 146,929 | ||||||||||
Technology Hardware, Storage & Peripherals | 5.4 | % | ||||||||||
Asia Vital Components Co. Ltd.* | 37,000 | 626,619 | ||||||||||
Chicony Electronics Co. Ltd.* | 110,000 | 761,323 | ||||||||||
Wiwynn Corp.* | 12,000 | 821,160 | ||||||||||
Xiaomi Corp.* | 50,000 | 95,440 | ||||||||||
2,304,542 | ||||||||||||
Textiles, Apparel & Luxury Goods | 1.7 | % | ||||||||||
Amer Sports, Inc.* | 15,000 | 244,500 | ||||||||||
Makalot Industrial Co. Ltd. | 40,000 | 456,825 | ||||||||||
701,325 | ||||||||||||
Water Utilities | 0.7 | % | ||||||||||
Beijing Enterprises Water Group Ltd.* | 1,250,000 | 277,888 | ||||||||||
Total Equities | ||||||||||||
(Cost: $36,959,075) | $ | 43,135,264 | ||||||||||
Total Investments | 100.0 | % | ||||||||||
(Cost: $36,959,075) | $ | 43,135,264 | ||||||||||
Other Liabilities Less Assets | 0.0 | % | (7,152 | ) | ||||||||
Net Assets - 100% | $ | 43,128,112 |
* | Non-income producing security during the period ended March 31, 2024 |
ADS - American depositary share
COUNTRY ALLOCATION (As a Percentage of Net Assets) | ||||
China ( Includes the People's Republic of China, Taiwan and Hong Kong) | 97.9 | % | ||
Singapore | 2.1 | % | ||
Oberweis Emerging Markets Fund
Schedule of Investments (unaudited)
March 31, 2024
Shares | Value | |||||||||||
Equities | 90.9 | % | ||||||||||
Argentina | 3.3 | % | ||||||||||
Arcos Dorados Hldgs., Inc. | 30,000 | $ | 333,600 | |||||||||
Despegar.com Corp.* | 22,500 | 269,100 | ||||||||||
602,700 | ||||||||||||
Brazil | 8.5 | % | ||||||||||
GPS Participacoes e Empreendimentos SA* | 91,300 | 377,185 | ||||||||||
Petro Rio SA* | 27,200 | 264,331 | ||||||||||
Santos Brasil Participacoes SA | 131,100 | 348,178 | ||||||||||
VTEX* | 66,500 | 543,305 | ||||||||||
1,532,999 | ||||||||||||
Chile | 0.9 | % | ||||||||||
Embotelladora Andina SA | 66,700 | 168,974 | ||||||||||
China | 11.7 | % | ||||||||||
Chongqing Brewery Co. Ltd.* | 43,900 | 392,382 | ||||||||||
DPC Dash Ltd.* | 30,000 | 192,222 | ||||||||||
Haitian International Hldgs. Ltd.* | 84,000 | 244,158 | ||||||||||
Hangzhou Robam Appliances Co. Ltd. | 110,500 | 366,167 | ||||||||||
Jiangsu Hengli Hydraulic Co. Ltd.* | 24,500 | 170,746 | ||||||||||
Kanzhun Ltd. ADS* | 18,000 | 315,540 | ||||||||||
Uni-President China Hldgs. Ltd.* | 260,000 | 185,029 | ||||||||||
Yihai International Hldg. Ltd.* | 128,000 | 242,363 | ||||||||||
2,108,607 | ||||||||||||
France | 1.4 | % | ||||||||||
Gaztransport & Technigaz SA* | 1,750 | 261,490 | ||||||||||
Greece | 1.2 | % | ||||||||||
Greek Organization of Football Prognostics SA* | 12,500 | 224,943 | ||||||||||
Hungary | 1.3 | % | ||||||||||
Richter Gedeon Nyrt* | 9,200 | 233,391 | ||||||||||
India | 18.6 | % | ||||||||||
Control Print Ltd. | 16,600 | 185,073 | ||||||||||
Emudhra Ltd.* | 25,500 | 231,419 | ||||||||||
Federal Bank Ltd.* | 194,700 | 350,636 | ||||||||||
Kaynes Technology India Ltd.* | 5,800 | 199,722 | ||||||||||
KEI Industries Ltd. | 4,998 | 207,333 | ||||||||||
MakeMyTrip Ltd.* | 8,600 | 611,030 | ||||||||||
Medi Assist Healthcare Services Ltd.* | 35,400 | 214,622 | ||||||||||
Oracle Financial Services Software Ltd.* | 3,850 | 405,027 | ||||||||||
SAMHI Hotels Ltd.* | 100,000 | 253,470 | ||||||||||
Senco Gold Ltd.* | 26,500 | 245,165 | ||||||||||
TVS Motor Co. Ltd. | 9,600 | 247,688 | ||||||||||
Varun Beverages Ltd.* | 12,236 | 205,189 | ||||||||||
3,356,374 | ||||||||||||
Indonesia | 6.1 | % | ||||||||||
PT Avia Avian Tbk* | 5,000,000 | 173,447 | ||||||||||
PT Cisarua Mountain Dairy Tbk* | 620,000 | 191,611 | ||||||||||
PT Mitra Adiperkasa Tbk* | 2,158,900 | 247,821 | ||||||||||
PT Sumber Alfaria Trijaya Tbk* | 1,724,300 | 316,475 | ||||||||||
PT United Tractors Tbk* | 112,000 | 170,773 | ||||||||||
1,100,127 | ||||||||||||
Mexico | 7.0 | % | ||||||||||
Alsea, S.A.B. de CV* | 88,300 | 435,432 | ||||||||||
BBB Foods, Inc.* | 11,000 | 261,580 | ||||||||||
Prologis Property Mexico SA de CV | 61,792 | 270,444 | ||||||||||
Regional SAB de CV* | 30,200 | 297,359 | ||||||||||
1,264,815 | ||||||||||||
Philippines | 3.1 | % | ||||||||||
International Container Terminal Services, Inc. | 100,000 | 565,685 | ||||||||||
Poland | 0.9 | % | ||||||||||
Dino Polska SA* | 1,700 | 165,008 | ||||||||||
South Africa | 1.2 | % | ||||||||||
Clicks Group Ltd. | 14,080 | 220,128 | ||||||||||
South Korea | 15.0 | % | ||||||||||
AfreecaTV Co. Ltd. | 2,600 | 237,742 | ||||||||||
Classys, Inc. | 9,627 | 253,860 | ||||||||||
Hugel, Inc.* | 1,500 | 215,153 | ||||||||||
KakaoBank Corp.* | 20,600 | 429,980 | ||||||||||
KINX, Inc.* | 2,500 | 176,787 | ||||||||||
LEENO Industrial, Inc.* | 1,988 | 380,987 | ||||||||||
Park Systems Corp.* | 2,456 | 276,933 | ||||||||||
SK Square Co. Ltd.* | 8,450 | 493,348 | ||||||||||
Tokai Carbon Korea Co. Ltd. | 2,850 | 245,783 | ||||||||||
2,710,573 | ||||||||||||
Taiwan | 8.8 | % | ||||||||||
Alchip Technologies Ltd.* | 2,000 | 197,791 | ||||||||||
E Ink Hldgs., Inc.* | 49,000 | 347,556 | ||||||||||
eMemory Technology, Inc.* | 5,000 | 374,959 | ||||||||||
Ennoconn Corp.* | 39,000 | 425,297 | ||||||||||
M31 Technology Corp.* | 5,800 | 232,881 | ||||||||||
1,578,484 | ||||||||||||
Thailand | 1.0 | % | ||||||||||
Mega Lifesciences PCL | 145,300 | 165,261 | ||||||||||
United Kingdom | 0.9 | % | ||||||||||
WAG Payment Solutions PLC* | 173,000 | 146,295 | ||||||||||
Total Equities | ||||||||||||
(Cost: $13,652,898) | $ | 16,405,854 | ||||||||||
Short-Term Investments | 9.7 | % | ||||||||||
Fidelity Investments Money Market Government Portfolio Class I 5.21%a | 1,760,728 | 1,760,728 | ||||||||||
Total Short-Term Investments | ||||||||||||
(Cost: $1,760,728) | $ | 1,760,728 | ||||||||||
Total Investments | 100.6 | % | ||||||||||
(Cost: $15,413,626) | $ | 18,166,582 | ||||||||||
Other Liabilities Less Assets | (0.6 | )% | (105,807 | ) | ||||||||
Net Assets - 100% | $ | 18,060,775 |
a | Annualized seven-day effective yield as of March 31, 2024 |
* | Non-income producing security during the period ended March 31, 2024 |
ADS - American depositary share
SECTOR ALLOCATIONS (As a Percentage of Net Assets) | ||||
Communication Services | 7.1 | % | ||
Consumer Discretionary | 19.0 | % | ||
Consumer Staples | 13.0 | % | ||
Energy | 3.9 | % | ||
Financials | 6.8 | % | ||
Healthcare | 6.0 | % | ||
Industrials | 14.6 | % | ||
Information Technology | 18.0 | % | ||
Materials | 1.0 | % | ||
Real Estate | 1.5 | % |
Oberweis International Opportunities Fund
Schedule of Investments (unaudited)
March 31, 2024
Shares | Value | |||||||||||
Equities | 95.1 | % | ||||||||||
Australia | 7.0 | % | ||||||||||
GrainCorp Ltd.* | 920,623 | $ | 4,943,264 | |||||||||
James Hardie Industries PLC* | 184,200 | 7,395,127 | ||||||||||
JB Hi-Fi Ltd. | 146,412 | 6,129,917 | ||||||||||
Nick Scali Ltd. | 434,700 | 4,362,296 | ||||||||||
Super Retail Group Ltd. | 176,747 | 1,854,312 | ||||||||||
24,684,916 | ||||||||||||
Canada | 10.1 | % | ||||||||||
Ag Growth International, Inc. | 134,300 | 6,083,455 | ||||||||||
ATS Corp.* | 138,575 | 4,662,814 | ||||||||||
Definity Financial Corp. | 127,200 | 4,050,943 | ||||||||||
Element Fleet Management Corp. | 319,400 | 5,161,425 | ||||||||||
Hammond Power Solutions, Inc. | 20,000 | 2,140,853 | ||||||||||
Parex Resources, Inc. | 232,615 | 3,716,070 | ||||||||||
SNC-Lavalin Group, Inc. | 63,100 | 2,580,644 | ||||||||||
Stantec, Inc. | 84,900 | 7,048,467 | ||||||||||
35,444,671 | ||||||||||||
Finland | 2.1 | % | ||||||||||
Metso Corp.* | 466,268 | 5,535,958 | ||||||||||
Outokumpu Oyj* | 396,643 | 1,724,535 | ||||||||||
7,260,493 | ||||||||||||
France | 7.2 | % | ||||||||||
Gaztransport Et Technigaz SA* | 32,200 | 4,811,414 | ||||||||||
Rexel SA* | 251,419 | 6,789,317 | ||||||||||
Sopra Steria Group SACA* | 28,800 | 6,972,403 | ||||||||||
Spie SA* | 179,300 | 6,735,598 | ||||||||||
25,308,732 | ||||||||||||
Germany | 1.7 | % | ||||||||||
CTS Eventim AG & Co.* | 66,651 | 5,928,768 | ||||||||||
Ireland | 2.4 | % | ||||||||||
Glanbia PLC | 433,400 | 8,547,364 | ||||||||||
Italy | 4.5 | % | ||||||||||
Brunello Cucinelli SpA* | 54,700 | 6,255,475 | ||||||||||
De' Longhi SpA* | 201,500 | 6,969,565 | ||||||||||
Maire Tecnimont SpA* | 324,100 | 2,540,281 | ||||||||||
15,765,321 | ||||||||||||
Japan | 22.9 | % | ||||||||||
ABC-Mart, Inc. | 309,300 | 5,856,840 | ||||||||||
Asics Corp. | 96,200 | 4,515,770 | ||||||||||
Daiwa Securities Group, Inc. | 986,400 | 7,467,396 | ||||||||||
Ebara Corp.* | 31,900 | 2,883,812 | ||||||||||
Fuji Electric Co. Ltd. | 193,600 | 12,916,898 | ||||||||||
Lawson, Inc.* | 95,100 | 6,492,658 | ||||||||||
Organo Corp. | 87,500 | 4,317,776 | ||||||||||
Ryohin Keikaku Co. Ltd. | 285,700 | 4,663,527 | ||||||||||
Santen Pharmaceutical Co. Ltd. | 866,000 | 8,503,825 | ||||||||||
Sumitomo Bakelite Co. Ltd. | 164,600 | 4,936,478 | ||||||||||
Sundrug Co. Ltd. | 170,000 | 5,264,632 | ||||||||||
Toyo Suisan Kaisha Ltd. | 86,400 | 5,274,293 | ||||||||||
Yamazaki Baking Co. Ltd.* | 277,500 | 7,147,394 | ||||||||||
80,241,299 | ||||||||||||
Netherlands | 4.3 | % | ||||||||||
Arcadis NV* | 120,900 | 7,402,174 | ||||||||||
Constellium SE* | 348,239 | 7,699,564 | ||||||||||
15,101,738 | ||||||||||||
Norway | 4.0 | % | ||||||||||
Kongsberg Gruppen ASA* | 133,200 | 9,197,182 | ||||||||||
Subsea 7 SA* | 303,000 | 4,846,560 | ||||||||||
14,043,742 | ||||||||||||
Spain | 1.6 | % | ||||||||||
Indra Sistemas SA* | 269,400 | 5,583,314 | ||||||||||
Sweden | 3.2 | % | ||||||||||
AAK AB* | 77,320 | 1,837,650 | ||||||||||
AddTech AB* | 62,200 | 1,416,700 | ||||||||||
Saab AB* | 91,300 | 8,120,105 | ||||||||||
11,374,455 | ||||||||||||
Switzerland | 2.2 | % | ||||||||||
Accelleron Industries AG* | 204,200 | 7,648,161 | ||||||||||
United Kingdom | 21.9 | % | ||||||||||
Ashtead Technology Hldgs. PLC* | 680,000 | 6,522,782 | ||||||||||
B&M European Value Retail SA | 261,003 | 1,797,999 | ||||||||||
ConvaTec Group PLC* | 1,331,000 | 4,811,289 | ||||||||||
Cranswick PLC | 90,400 | 4,673,462 | ||||||||||
Diploma PLC | 98,700 | 4,636,645 | ||||||||||
Domino's Pizza Group PLC* | 89,951 | 391,230 | ||||||||||
Games Workshop Group PLC | 40,550 | 5,138,483 | ||||||||||
Howden Joinery Group PLC* | 309,705 | 3,544,623 | ||||||||||
IMI PLC* | 235,116 | 5,386,035 | ||||||||||
Informa PLC* | 512,700 | 5,378,723 | ||||||||||
Intermediate Capital Group PLC | 434,400 | 11,261,613 | ||||||||||
Keywords Studios PLC* | 156,833 | 2,577,263 | ||||||||||
Marks and Spencer Group PLC | 1,971,300 | 6,595,881 | ||||||||||
Morgan Sindall Group PLC* | 77,171 | 2,259,709 | ||||||||||
Telecom Plus PLC* | 126,100 | 2,591,074 | ||||||||||
The Sage Group PLC | 586,270 | 9,364,189 | ||||||||||
76,931,000 | ||||||||||||
Total Equities | ||||||||||||
(Cost: $275,955,084) | $ | 333,863,974 | ||||||||||
Short-Term Investments | 4.9 | % | ||||||||||
Fidelity Investments Money Market Government Portfolio Class I 5.21%a | 17,048,383 | 17,048,383 | ||||||||||
Total Short-Term Investments | ||||||||||||
(Cost: $17,048,383) | $ | 17,048,383 | ||||||||||
Total Investments | 100.0 | % | ||||||||||
(Cost: $293,003,467) | $ | 350,912,357 | ||||||||||
Other Assets Less Liabilities | 0.0 | % | 117,222 | |||||||||
Net Assets - 100% | $ | 351,029,579 |
a | Annualized seven-day effective yield as of March 31, 2024 |
* | Non-income producing security during the period ended March 31, 2024 |
SECTOR ALLOCATIONS (As a Percentage of Net Assets) | ||||
Communication Services | 3.2 | % | ||
Consumer Discretionary | 13.7 | % | ||
Consumer Staples | 14.5 | % | ||
Energy | 3.8 | % | ||
Financials | 6.5 | % | ||
Healthcare | 3.8 | % | ||
Industrials | 35.8 | % | ||
Information Technology | 7.0 | % | ||
Materials | 6.1 | % | ||
Utilities | 0.7 | % |
Oberweis Focused International Growth Fund
Schedule of Investments (unaudited)
March 31, 2024
Shares | Value | |||||||||||
Equities | 97.6 | % | ||||||||||
Australia | 1.9 | % | ||||||||||
BHP Group Ltd. | 4,600 | $ | 132,700 | |||||||||
Canada | 7.2 | % | ||||||||||
Dollarama, Inc. | 3,500 | 266,621 | ||||||||||
WSP Global, Inc. | 1,400 | 233,326 | ||||||||||
499,947 | ||||||||||||
Denmark | 7.0 | % | ||||||||||
Danske Bank A/S | 3,700 | 111,060 | ||||||||||
Novo Nordisk A/S | 2,900 | 371,990 | ||||||||||
483,050 | ||||||||||||
France | 10.4 | % | ||||||||||
LVMH Moet Hennessy Louis Vuitton SE* | 340 | 305,813 | ||||||||||
Publicis Groupe SA* | 2,800 | 305,254 | ||||||||||
Schneider Electric SE* | 500 | 113,092 | ||||||||||
724,159 | ||||||||||||
Germany | 8.1 | % | ||||||||||
Rheinmetall AG* | 450 | 252,940 | ||||||||||
SAP SE* | 1,600 | 311,507 | ||||||||||
564,447 | ||||||||||||
Italy | 5.9 | % | ||||||||||
Ferrari NV* | 240 | 104,607 | ||||||||||
UniCredit SpA* | 8,000 | 303,593 | ||||||||||
408,200 | ||||||||||||
Japan | 15.2 | % | ||||||||||
Bridgestone Corp. | 1,800 | 79,560 | ||||||||||
Hitachi Ltd. | 2,900 | 263,506 | ||||||||||
Mitsubishi UFJ Financial Group, Inc. | 12,300 | 124,723 | ||||||||||
Sony Group Corp. | 1,600 | 136,663 | ||||||||||
Sumitomo Corp. | 6,100 | 146,274 | ||||||||||
Toyota Motor Corp. | 12,100 | 304,219 | ||||||||||
1,054,945 | ||||||||||||
Netherlands | 3.3 | % | ||||||||||
ASML Hldg. NV | 240 | 231,015 | ||||||||||
Spain | 2.4 | % | ||||||||||
Industria de Diseno Textil SA* | 3,300 | 166,157 | ||||||||||
Sweden | 6.1 | % | ||||||||||
EQT AB* | 7,100 | 224,595 | ||||||||||
Volvo AB | 7,300 | 197,845 | ||||||||||
422,440 | ||||||||||||
Switzerland | 7.3 | % | ||||||||||
Novartis AG | 800 | 77,499 | ||||||||||
Roche Hldg. AG | 300 | 76,405 | ||||||||||
Zurich Insurance Group AG* | 650 | 350,476 | ||||||||||
504,380 | ||||||||||||
United Kingdom | 18.2 | % | ||||||||||
Anglo American PLC | 3,200 | 78,831 | ||||||||||
AstraZeneca PLC | 900 | 121,295 | ||||||||||
BAE Systems PLC* | 10,500 | 178,843 | ||||||||||
BP PLC | 20,200 | 126,381 | ||||||||||
CRH PLC | 1,200 | 103,415 | ||||||||||
HSBC Hldgs. PLC | 13,100 | 102,346 | ||||||||||
Rolls-Royce Hldgs. PLC* | 47,000 | 253,123 | ||||||||||
Shell PLC | 5,100 | 168,970 | ||||||||||
Unilever PLC | 2,600 | 130,459 | ||||||||||
1,263,663 | ||||||||||||
United States of America | 4.6 | % | ||||||||||
Cadence Design Systems, Inc.* | 1,000 | 311,280 | ||||||||||
Total Equities | ||||||||||||
(Cost: $5,697,839) | $ | 6,766,383 | ||||||||||
Short-Term Investments | 0.5 | % | ||||||||||
Fidelity Investments Money Market Government Portfolio Class I 5.21%a | 36,141 | 36,141 | ||||||||||
Total Short-Term Investments | ||||||||||||
(Cost: $36,141) | $ | 36,141 | ||||||||||
Total Investments | 98.1 | % | ||||||||||
(Cost: $5,733,980) | $ | 6,802,524 | ||||||||||
Other Assets Less Liabilities | 1.9 | % | 135,164 | |||||||||
Net Assets - 100% | $ | 6,937,688 |
a | Annualized seven-day effective yield as of March 31, 2024 |
* | Non-income producing security during the period ended March 31, 2024 |
SECTOR ALLOCATIONS (As a Percentage of Net Assets) | ||||
Communication Services | 4.4 | % | ||
Consumer Discretionary | 19.7 | % | ||
Consumer Staples | 1.9 | % | ||
Energy | 4.3 | % | ||
Financials | 17.5 | % | ||
Healthcare | 9.3 | % | ||
Industrials | 23.6 | % | ||
Information Technology | 12.3 | % | ||
Materials | 4.6 | % |
Fair Value Measurements
In accordance with Financial Accounting Standards Board (“FASB”) guidance, the Funds utilize the “Fair Value Measurements and Disclosures” to define fair value, set out a framework for measuring fair value, and expand disclosures regarding fair value measurements.
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three levels listed below:
● | Level 1 – Quoted prices in active markets for identical securities. |
● | Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc). |
● | Level 3 – Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). |
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the Funds’ net assets as of March 31, 2024:
Micro-Cap Fund | Small-Cap Opportunities Fund | |||||||
Level 1 – Equities | $ | 462,514,996 | $ | 805,503,921 | ||||
Level 2 - Equities | - | - | ||||||
Level 3 | - | - | ||||||
Total Investments | $ | 462,514,996 | $ | 805,503,921 |
Global Opportunities Fund | China Opportunities Fund | Emerging Markets Fund | ||||||||||
Level 1 - Equities | ||||||||||||
Total Asia | $ | 11,935,527 | $ | 43,135,264 | $ | 11,585,111 | ||||||
Total Africa | - | - | 220,128 | |||||||||
Total Australia | 1,437,271 | - | - | |||||||||
Total Europe | 13,007,471 | - | 1,031,127 | |||||||||
Total South America | 487,056 | - | 2,304,673 | |||||||||
Total North America | 27,026,957 | - | 1,264,815 | |||||||||
Total Short-Term Investments | - | - | 1,760,728 | |||||||||
Total Level 1 | 53,894,282 | 43,135,264 | 18,166,582 | |||||||||
Level 2 - Equities | - | - | - | |||||||||
Level 3 | - | - | - | |||||||||
Total Investments | $ | 53,894,282 | $ | 43,135,264 | $ | 18,166,582 |
International Opportunities Fund | Focused International Growth Fund | |||||||
Level 1 – Equites | ||||||||
Total Asia | $ | 80,241,299 | $ | 1,054,945 | ||||
Total Australia | 24,684,916 | 132,700 | ||||||
Total Europe | 193,493,088 | 4,767,511 | ||||||
Total North America | 35,444,671 | 811,227 | ||||||
Total Short-Term Investments | 17,048,383 | 36,141 | ||||||
Total Level 1 | 350,912,357 | 6,802,524 | ||||||
Level 2 – Equities | - | - | ||||||
Level 3 | - | - | ||||||
Total Investments | $ | 350,912,357 | $ | 6,802,524 |
The Funds’ assets include certain foreign securities for which a third party statistical pricing service may be employed for purposes of fair market valuation. The pricing service provides fair market valuation on days when the movement in relevant indices exceeds a predetermined threshold.