Becker Value Equity Fund | |||||||
SCHEDULE OF INVESTMENTS at July 31, 2021 (Unaudited) | |||||||
Shares | Value | ||||||
COMMON STOCKS: 97.8% | | ||||||
Communication Services: 5.6% | |||||||
65,475 | AT&T, Inc. | $ | 1,836,574 | ||||
7,125 | Facebook, Inc. - Class A 1 | 2,538,638 | |||||
106,655 | Vodafone Group PLC - ADR | 1,741,676 | |||||
12,015 | The Walt Disney Co. | 2,114,880 | |||||
8,231,768 | |||||||
Consumer Discretionary: 3.9% | |||||||
1,570 | AutoZone, Inc. 1 | 2,549,005 | |||||
6,695 | The Home Depot, Inc. | 2,197,232 | |||||
7,895 | Starbucks Corp. | 958,690 | |||||
5,704,927 | |||||||
Consumer Staples: 9.9% | |||||||
91,980 | Danone SA - ADR | 1,353,946 | |||||
38,505 | Kellogg Co. | 2,439,677 | |||||
38,455 | The Kroger Co. | 1,565,118 | |||||
35,575 | Molson Coors Brewing Co. - Class B | 1,739,262 | |||||
15,610 | Procter & Gamble Co. | 2,220,210 | |||||
19,675 | Tyson Foods, Inc. - Class A | 1,405,975 | |||||
24,390 | Unilever PLC - ADR | 1,403,157 | |||||
16,395 | Walmart, Inc. | 2,337,107 | |||||
14,464,452 | |||||||
Energy: 4.8% | |||||||
64,415 | Baker Hughes Co. | 1,368,175 | |||||
28,080 | Chevron Corp. | 2,858,825 | |||||
85,380 | Kinder Morgan, Inc. | 1,483,904 | |||||
20,000 | Valero Energy Corp. | 1,339,400 | |||||
7,050,304 | |||||||
Financials: 25.5% | |||||||
3,400 | Alleghany Corp. 1 | 2,254,540 | |||||
34,590 | Allstate Corp. | 4,498,430 | |||||
81,240 | Bank of America Corp. | 3,116,366 | |||||
12,740 | Berkshire Hathaway, Inc. - Class B 1 | 3,545,415 | |||||
4,425 | BlackRock, Inc. | 3,837,227 | |||||
70,055 | Charles Schwab Corp. | 4,760,237 | |||||
9,820 | Chubb Ltd. | 1,657,027 | |||||
28,270 | Citigroup, Inc. | 1,911,617 | |||||
12,715 | First Republic Bank | 2,479,679 | |||||
13,180 | Goldman Sachs Group, Inc. | 4,940,918 | |||||
27,920 | JPMorgan Chase & Co. | 4,237,698 | |||||
37,239,154 | |||||||
Health Care: 17.4% | |||||||
49,795 | AstraZeneca PLC - ADR | 2,850,266 | |||||
42,205 | Gilead Sciences, Inc. | 2,882,180 | |||||
13,220 | Hill-Rom Holdings, Inc. | 1,830,441 | |||||
15,665 | Johnson & Johnson | 2,697,513 | |||||
14,470 | McKesson Corp. | 2,949,420 | |||||
14,560 | Medtronic PLC | 1,911,874 | |||||
22,070 | Merck & Co., Inc. | 1,696,521 | |||||
77,245 | Pfizer, Inc. | 3,306,858 | |||||
22,470 | Quest Diagnostics, Inc. | 3,186,246 | |||||
152,590 | Viatris, Inc. | 2,146,941 | |||||
25,458,260 |
Industrials: 9.1% | |||||||
14,385 | Caterpillar, Inc. | 2,974,099 | |||||
11,760 | Eaton Corp. PLC | 1,858,668 | |||||
201,745 | Embraer SA - ADR 1 | 2,884,953 | |||||
10,290 | General Dynamics Corp. | 2,017,148 | |||||
41,626 | Raytheon Technologies Corp. | 3,619,381 | |||||
13,354,249 | |||||||
Information Technology: 15.5% | |||||||
7,285 | Accenture PLC - Class A | 2,314,299 | |||||
23,500 | Apple, Inc. | 3,427,710 | |||||
28,095 | Ciena Corp. 1 | 1,633,444 | |||||
73,790 | Cisco Systems, Inc. | 4,085,752 | |||||
18,620 | Microsoft Corp. | 5,305,024 | |||||
15,080 | QUALCOMM, Inc. | 2,258,984 | |||||
5,770 | salesforce.com, Inc. 1 | 1,395,936 | |||||
15,510 | SAP SE - ADR | 2,229,097 | |||||
22,650,246 | |||||||
Materials: 1.8% | |||||||
25,250 | International Paper Co. | 1,458,440 | |||||
17,440 | Newmont Goldcorp Corp. | 1,095,581 | |||||
2,554,021 | |||||||
Real Estate: 1.7% | |||||||
40,630 | Ventas, Inc. - REIT | 2,428,861 | |||||
Utilities: 2.6% | |||||||
67,580 | FirstEnergy Corp. | 2,589,666 | |||||
19,250 | The Southern Co. | 1,229,497 | |||||
3,819,163 | |||||||
TOTAL COMMON STOCKS | |||||||
(Cost $97,585,701) | 142,955,405 | ||||||
SHORT-TERM INVESTMENTS: 2.1% | |||||||
3,001,213 | First American Government Obligations Fund - Class X, 0.026% 2 | 3,001,213 | |||||
TOTAL SHORT-TERM INVESTMENTS | |||||||
(Cost $3,001,213) | 3,001,213 | ||||||
TOTAL INVESTMENTS IN SECURITIES: 99.9% | |||||||
(Cost $100,586,914) | 145,956,618 | ||||||
Other Assets in Excess of Liabilities: 0.1% | 157,469 | ||||||
TOTAL NET ASSETS: 100.0% | $ | 146,114,087 |
ADR - | American Depositary Receipt | |||||
REIT- | Real Estate Investment Trust | |||||
1 | Non-income producing security. | |||||
2 | Annualized seven-day effective yield as of July 31,2021. |
The Global Industry Classification Standard ("GICS®") sector and industry classifications were developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor's Financial Services LLC ("S&P"). GICS® is a service mark of MSCI, Inc. and S&P and has been licensed for use by Becker Value Equity Fund (the "Fund"). |
Summary of Fair Value Disclosure at July 31, 2021 (Unaudited) | ||||
The Fund utilizes various methods to measure the fair value of its investments on a recurring basis. U.S. GAAP establishes a hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are: | ||||
• Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access. • Level 2 — Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment spreads, credit risk, yield curves, default rates and similar data. • Level 3 — Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available. | ||||
The following is a summary of the inputs used to value the Fund's investments as of July 31, 2021: |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Common Stocks 1 | $ | 142,955,405 | $ | - | $ | - | $ | 142,955,405 | ||||||||
Short-Term Investments | 3,001,213 | - | - | 3,001,213 | ||||||||||||
Total Investments in Securities | $ | 145,956,618 | $ | - | $ | - | $ | 145,956,618 | ||||||||
1See Schedule of Investments for sector breakouts. |