Boston Common ESG Impact Emerging Markets Fund | ||||||
Schedule of Investments | ||||||
June 30, 2023 (Unaudited) | ||||||
Shares | Value | |||||
COMMON STOCKS - 93.2% | ||||||
Communication Services - 8.0% | ||||||
116,014 | Advanced Info Service PLC | $ | 729,689 | |||
78,974 | Bharti Airtel Ltd. 1 | 847,130 | ||||
27,997 | SK Telecom Company Ltd. - ADR | 546,221 | ||||
2,451,693 | Telkom Indonesia Persero Tbk PT | 655,883 | ||||
9,050 | Tencent Holdings Ltd. | 383,731 | ||||
3,162,654 | ||||||
Consumer Discretionary - 17.7% | ||||||
152,715 | Alibaba Group Holding Ltd. 1 | 1,589,737 | ||||
23,709 | BYD Company Ltd. - Class H | 760,221 | ||||
6,974 | Coway Company Ltd. | 233,047 | ||||
32,425 | Giant Manufacturing Company Ltd. | 240,614 | ||||
115,824 | Lojas Renner SA | 485,241 | ||||
519 | MercadoLibre, Inc. 1 | 614,807 | ||||
97,099 | Midea Group Company Ltd. - Class A | 789,289 | ||||
8,385 | Naspers Ltd. - Class N | 1,514,845 | ||||
20,385 | Trip.com Group Ltd. - ADR 1 | 713,475 | ||||
6,941,276 | ||||||
Consumer Staples - 9.1% | ||||||
38,150 | Clicks Group Ltd. | 529,625 | ||||
5,164 | Dino Polska SA 1 | 603,328 | ||||
76,279 | Hengan International Group Company Ltd. | 321,627 | ||||
364,740 | Kimberly-Clark de Mexico - Class A | 813,777 | ||||
1,508 | LG Household & Health Care Ltd. | 526,994 | ||||
125,491 | Raia Drogasil SA | 773,936 | ||||
3,569,287 | ||||||
Financials - 17.5% | ||||||
64,187 | Axis Bank Ltd. | 774,503 | ||||
226,934 | BDO Unibank, Inc. | 568,261 | ||||
159,607 | China Merchants Bank Company Ltd. - Class H | 727,982 | ||||
22,570 | HDFC Bank Ltd. - ADR | 1,573,129 | ||||
138,071 | Kasikornbank PCL - NVDR | 507,557 | ||||
10,454 | OTP Bank Nyrt | 371,644 | ||||
171,263 | Ping An Insurance (Group) Company of China Ltd. - Class H | 1,093,843 | ||||
3,447,950 | PT Bank Rakyat Indonesia (Persero) Tbk. | 1,258,818 | ||||
6,875,737 | ||||||
Health Care - 7.4% | ||||||
129,635 | Biocon Ltd. | 420,093 | ||||
1,176,949 | China Traditional Chinese Medicine Holdings Company Ltd. | 549,607 | ||||
500,125 | Hapvida Participacoes e Investimentos SA 1 | 458,533 | ||||
5,682,757 | PT Kalbe Farma Tbk. | 777,696 | ||||
17,186 | Shenzhen Mindray Bio-Medical Electronics Company Ltd. - Class A | 711,189 | ||||
2,917,118 | ||||||
Industrials - 8.1% | ||||||
22,152 | AirTAC International Group | 732,094 | ||||
40,825 | Shenzhen Inovance Technology Company Ltd. - Class A | 361,858 | ||||
24,800 | Sungrow Power Supply Company Ltd. | 399,484 | ||||
27,287 | Voltas Ltd. | 253,155 | ||||
100,939 | WEG SA | 797,275 | ||||
440,936 | Weichai Power Company Ltd. - Class H | 648,737 | ||||
3,192,603 | ||||||
Information Technology - 20.7% | ||||||
684,389 | Chinasoft International Ltd. | 431,616 | ||||
125,346 | Delta Electronics, Inc. | 1,389,126 | ||||
36,875 | Infosys Ltd. - ADR | 592,581 | ||||
25,401 | SK Hynix, Inc. | 2,231,844 | ||||
26,169 | Taiwan Semiconductor Manufacturing Company Ltd. - ADR | 2,640,976 | ||||
80,483 | Win Semiconductors Corp. | 426,287 | ||||
377,311 | Xinyi Solar Holdings Ltd. | 438,057 | ||||
8,150,487 | ||||||
Materials - 3.0% | ||||||
1,224 | LG Chem Ltd. | 623,092 | ||||
36,493 | Mondi PLC | 557,916 | ||||
1,181,008 | ||||||
Real Estate - 1.7% | ||||||
378,541 | Growthpoint Properties Ltd. - REIT | 234,511 | ||||
171,165 | Longfor Group Holdings Ltd. | 417,975 | ||||
652,486 | ||||||
TOTAL COMMON STOCKS (Cost $38,001,080) | 36,642,656 | |||||
PREFERRED STOCKS - 3.7% | ||||||
Financials - 3.7% | ||||||
26,548 | Bancolombia SA - ADR | 708,301 | ||||
127,065 | Itau Unibanco Holding SA - ADR | 749,683 | ||||
TOTAL PREFERRED STOCKS (Cost $1,417,714) | 1,457,984 | |||||
SHORT-TERM INVESTMENTS - 2.7% | ||||||
MONEY MARKET FUNDS - 2.7% | ||||||
1,043,821 | First American Treasury Obligations Fund - Class X, 5.035% 2 | 1,043,821 | ||||
TOTAL SHORT-TERM INVESTMENTS (Cost $1,043,821) | 1,043,821 | |||||
TOTAL INVESTMENTS - 99.6% (Cost $40,462,615) | 39,144,461 | |||||
Other Assets in Excess of Liabilities - 0.4% | 143,979 | |||||
NET ASSETS - 100.0% | $ | 39,288,440 |
ADR | American Depositary Receipt | ||
NVDR | Non-Voting Depository Receipt | ||
REIT | Real Estate Investment Trust | ||
1 | Non-income producing security. | ||
2 | Annualized seven-day effective yield as of June 30, 2023. | ||
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor Financial Services, LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bancorp Fund Services, LLC. |
Country Allocation at June 30, 2023 (Unaudited) | ||
Country | % of Net Assets 1 | |
China | 26.8% | |
Taiwan | 11.9% | |
India | 11.4% | |
Republic of Korea | 10.6% | |
Brazil | 8.3% | |
Indonesia | 6.9% | |
South Africa | 5.8% | |
Thailand | 3.1% | |
Mexico | 2.1% | |
Colombia | 1.8% | |
United States | 1.6% | |
Poland | 1.5% | |
Philippines | 1.4% | |
United Kingdom | 1.4% | |
Hong Kong | 1.4% | |
Hungary | 0.9% | |
1 Excludes short-term investments and other assets in excess of liabilities. |
Boston Common ESG Impact Emerging Markets Fund | ||||
Summary of Fair Value Exposure at June 30, 2023 (Unaudited) | ||||
The Boston Common ESG Impact Emerging Markets Fund (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 June 30, 2023: |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks | |||||||||||||||
Communication Services | $ | 546,221 | $ | 2,616,433 | $ | - | $ | 3,162,654 | |||||||
Consumer Discretionary | 1,813,523 | 5,127,753 | - | 6,941,276 | |||||||||||
Consumer Staples | 2,117,339 | 1,451,948 | - | 3,569,287 | |||||||||||
Financials | 1,573,129 | 5,302,608 | - | 6,875,737 | |||||||||||
Health Care | 458,533 | 2,458,585 | - | 2,917,118 | |||||||||||
Industrials | 797,275 | 2,395,328 | - | 3,192,603 | |||||||||||
Information Technology | 3,233,557 | 4,916,930 | - | 8,150,487 | |||||||||||
Materials | - | 1,181,008 | - | 1,181,008 | |||||||||||
Real Estate | 234,511 | 417,975 | - | 652,486 | |||||||||||
Total Common Stocks | 10,774,088 | 25,868,568 | - | 36,642,656 | |||||||||||
Preferred Stocks | |||||||||||||||
Financials | 1,457,984 | - | - | 1,457,984 | |||||||||||
Total Preferred Stocks | 1,457,984 | - | - | 1,457,984 | |||||||||||
Short-Term Investments | 1,043,821 | - | - | 1,043,821 | |||||||||||
Total Investments in Securities | $ | 13,275,893 | $ | 25,868,568 | $ | - | $ | 39,144,461 |