Congress Small Cap Growth Fund | |
Schedule of Investments | |
as of January 31, 2024 (Unaudited) | |
| |
COMMON STOCKS - 95.2% | | Shares | | | Value | |
Aerospace & Defense - 5.2% | | | | |
AeroVironment, Inc.(a) | | | 215,000 | | | $ | 25,937,600 | |
Moog, Inc. - Class A | | | 160,000 | | | | 22,368,000 | |
| | | | | | | 48,305,600 | |
| | | | | | | | |
Banks - 2.7% | | | | | |
Ameris Bancorp | | | 500,000 | | | | 24,820,000 | |
| | | | | | | | |
Beverages - 2.4% | | | | | |
MGP Ingredients, Inc. | | | 260,000 | | | | 22,087,000 | |
| | | | | | | | |
Building Products - 2.6% | | | | | |
CSW Industrials, Inc. | | | 115,000 | | | | 24,330,550 | |
| | | | | | | | |
Capital Markets - 1.8% | | | | | |
Cohen & Steers, Inc. | | | 230,000 | | | | 16,196,600 | |
| | | | | | | | |
Chemicals - 2.2% | | | | | |
Balchem Corp. | | | 145,000 | | | | 20,323,200 | |
| | | | | | | | |
Communications Equipment - 3.6% | | | | | |
Calix, Inc.(a) | | | 540,000 | | | | 17,917,200 | |
Extreme Networks, Inc.(a) | | | 1,160,000 | | | | 15,671,600 | |
| | | | | | | 33,588,800 | |
| | | | | | | | |
Construction & Engineering - 7.2% | | | | | |
Comfort Systems USA, Inc. | | | 120,000 | | | | 26,096,400 | |
Sterling Infrastructure, Inc.(a) | | | 330,000 | | | | 24,783,000 | |
Valmont Industries, Inc. | | | 70,000 | | | | 15,799,700 | |
| | | | | | | 66,679,100 | |
| | | | | | | | |
Consumer Staples Distribution & Retail - 2.7% | | | | | |
Sprouts Farmers Market, Inc.(a) | | | 490,000 | | | | 24,681,300 | |
| | | | | | | | |
Electronic Equipment, Instruments & Components - 2.5% | | | | | |
Badger Meter, Inc. | | | 160,000 | | | | 23,038,400 | |
| | | | | | | | |
Energy Equipment & Services - 1.8% | | | | | |
Core Laboratories, Inc. | | | 1,035,000 | | | | 16,321,950 | |
| | | | | | | | |
Food Products - 2.4% | | | | | |
Simply Good Foods Co.(a) | | | 585,000 | | | | 22,113,000 | |
| | | | | | | | |
Health Care Equipment & Supplies - 8.0% | | | | | |
Integer Holdings Corp.(a) | | | 265,000 | | | | 26,849,800 | |
LeMaitre Vascular, Inc. | | | 400,000 | | | | 23,216,000 | |
Merit Medical Systems, Inc.(a) | | | 300,000 | | | | 23,490,000 | |
| | | | | | | 73,555,800 | |
| | | | | | | | |
Health Care Providers & Services - 4.9% | | | | | |
AMN Healthcare Services, Inc.(a) | | | 285,000 | | | | 21,092,850 | |
Progyny, Inc.(a) | | | 620,000 | | | | 23,615,800 | |
| | | | | | | 44,708,650 | |
| | | | | | | | |
Hotels, Restaurants & Leisure - 2.1% | | | | | |
Chuy's Holdings, Inc.(a) | | | 565,000 | | | | 19,102,650 | |
| | | | | | | | |
Household Durables - 2.4% | | | | | |
Skyline Champion Corp.(a) | | | 325,000 | | | | 22,256,000 | |
| | | | | | | | |
Leisure Products - 2.2% | | | | | |
YETI Holdings, Inc.(a) | | | 455,000 | | | | 20,006,350 | |
| | | | | | | | |
Life Sciences Tools & Services - 2.3% | | | | | |
Medpace Holdings, Inc.(a) | | | 72,000 | | | | 20,993,760 | |
| | | | | | | | |
Machinery - 2.6% | | | | | |
Enpro, Inc. | | | 160,000 | | | | 23,900,800 | |
| | | | | | | | |
Media - 2.1% | | | | | |
Perion Network Ltd.(a) | | | 645,000 | | | | 18,995,250 | |
| | | | | | | | |
Oil, Gas & Consumable Fuels - 2.5% | | | | | |
SM Energy Co. | | | 630,000 | | | | 23,360,400 | |
| | | | | | | | |
Personal Care Products - 4.0% | | | | | |
e.l.f Beauty, Inc.(a) | | | 230,000 | | | | 36,691,900 | |
| | | | | | | | |
Pharmaceuticals - 4.2% | | | | | |
Prestige Consumer Healthcare, Inc.(a) | | | 370,000 | | | | 22,769,800 | |
Supernus Pharmaceuticals, Inc.(a) | | | 570,000 | | | | 15,777,600 | |
| | | | | | | 38,547,400 | |
| | | | | | | | |
Professional Services - 7.4% | | | | | |
FTI Consulting, Inc.(a) | | | 110,000 | | | | 21,077,100 | |
ICF International, Inc. | | | 175,000 | | | | 24,332,000 | |
WNS Holdings Ltd. - ADR - ADR(a) | | | 340,000 | | | | 23,579,000 | |
| | | | | | | 68,988,100 | |
| | | | | | | | |
Semiconductors & Semiconductor Equipment - 5.5% | | | | | |
Onto Innovation, Inc.(a) | | | 180,000 | | | | 29,070,000 | |
Power Integrations, Inc. | | | 290,000 | | | | 21,738,400 | |
| | | | | | | 50,808,400 | |
| | | | | | | | |
Software - 2.9% | | | | | |
Qualys, Inc.(a) | | | 140,000 | | | | 26,483,800 | |
| | | | | | | | |
Specialty Retail - 5.0% | | | | | |
Boot Barn Holdings, Inc.(a) | | | 320,000 | | | | 22,956,800 | |
Valvoline, Inc.(a) | | | 630,000 | | | | 22,988,700 | |
| | | | | | | 45,945,500 | |
TOTAL COMMON STOCKS (Cost $773,754,023) | | | | 876,830,260 | |
| | | | | | | | |
SHORT-TERM INVESTMENTS - 4.4% | | | | | | | | |
Money Market Funds - 4.4% | | Shares | | | | | |
First American Treasury Obligations Fund - Class X, 5.25%(b) | | | 40,585,468 | | | | 40,585,468 | |
TOTAL SHORT-TERM INVESTMENTS (Cost $40,585,468) | | | | 40,585,468 | |
| | | | | | | | |
TOTAL INVESTMENTS - 99.6% (Cost $814,339,491) | | | $ | 917,415,728 | |
Other Assets in Excess of Liabilities - 0.4% | | | | 4,051,264 | |
TOTAL NET ASSETS - 100.0% | | | | | | $ | 921,466,992 | |
The Congress Small Cap Growth Fund (the “Fund”) utilizes various methods to measure the fair value of its investments on a recurring basis. Accounting principles generally accepted in the United States of America ("U.S. GAAP") establish 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 speeds, 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 January 31, 2024. See the Schedule of Investments for an industry breakout.