Boston Common ESG Impact Emerging Markets Fund | |
Schedule of Investments | |
June 30, 2024 (Unaudited) | |
| |
COMMON STOCKS - 94.2% | | Shares | | | Value | |
Communication Services - 7.6% | | | | |
Advanced Info Service PLC | | | 132,756 | | | $ | 759,691 | |
Bharti Airtel Ltd. | | | 102,624 | | | | 1,775,542 | |
SK Telecom Co. Ltd. - ADR | | | 37,273 | | | | 780,124 | |
Telkom Indonesia Persero Tbk PT | | | 3,186,090 | | | | 605,316 | |
Tencent Holdings Ltd. | | | 11,850 | | | | 562,168 | |
| | | | | | | 4,482,841 | |
| | | | | | | | |
Consumer Discretionary - 18.3% | | | | | |
Alibaba Group Holding Ltd. | | | 60,615 | | | | 546,313 | |
BYD Co. Ltd. - Class H | | | 36,209 | | | | 1,075,366 | |
Coway Company Ltd. | | | 11,827 | | | | 548,216 | |
Giant Manufacturing Company Ltd. | | | 83,925 | | | | 548,082 | |
Hyundai Motor Company | | | 3,904 | | | | 832,559 | |
Meituan - Class B (a)(b) | | | 125,400 | | | | 1,782,472 | |
MercadoLibre, Inc. (a) | | | 666 | | | | 1,094,504 | |
Midea Group Co. Ltd. - Class A | | | 126,199 | | | | 1,118,849 | |
Naspers Ltd. - Class N | | | 11,864 | | | | 2,329,999 | |
Trip.com Group Ltd. - ADR (a) | | | 18,571 | | | | 872,837 | |
| | | | | | | 10,749,197 | |
| | | | | | | | |
Consumer Staples - 8.1% | | | | | |
Clicks Group Ltd. | | | 58,100 | | | | 1,105,881 | |
Dabur India Ltd. | | | 148,648 | | | | 1,069,959 | |
Dino Polska SA (a)(b) | | | 9,887 | | | | 996,316 | |
Kimberly-Clark de Mexico SAB de CV - Class A | | | 375,030 | | | | 646,745 | |
LG Household & Health Care Ltd. | | | 1,401 | | | | 349,921 | |
Raia Drogasil SA | | | 122,091 | | | | 562,176 | |
| | | | | | | 4,730,998 | |
| | | | | | | | |
Financials - 17.7% | | | | | |
Alpha Services and Holdings SA (a) | | | 325,466 | | | | 529,763 | |
Axis Bank Ltd. | | | 85,439 | | | | 1,294,813 | |
Bancolombia SA - ADR | | | 34,500 | | | | 1,126,425 | |
BDO Unibank, Inc. | | | 419,079 | | | | 916,684 | |
China Merchants Bank Co. Ltd. - Class H | | | 240,507 | | | | 1,092,898 | |
HDFC Bank Ltd. - ADR | | | 31,926 | | | | 2,053,800 | |
OTP Bank Nyrt | | | 14,617 | | | | 725,041 | |
Ping An Insurance Group Co. of China Ltd. - Class H | | | 264,663 | | | | 1,199,076 | |
PT Bank Rakyat Indonesia (Persero) Tbk. | | | 5,185,840 | | | | 1,454,092 | |
| | | | | | | 10,392,592 | |
| | | | | | | | |
Health Care - 5.0% | | | | | |
Biocon Ltd. | | | 123,381 | | | | 518,941 | |
Hapvida Participacoes e Investimentos SA (a)(b) | | | 649,925 | | | | 442,964 | |
PT Kalbe Farma Tbk. | | | 10,777,738 | | | | 1,003,728 | |
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. - Class A | | | 23,386 | | | | 935,635 | |
| | | | | | | 2,901,268 | |
| | | | | | | | |
Industrials - 9.7% | | | | | |
AirTAC International Group | | | 30,952 | | | | 939,466 | |
Shenzhen Inovance Technology Co. Ltd. - Class A | | | 103,625 | | | | 730,768 | |
Sungrow Power Supply Company Ltd. - Class A | | | 80,580 | | | | 686,975 | |
Voltas Ltd. | | | 59,573 | | | | 1,051,239 | |
WEG SA | | | 155,339 | | | | 1,170,996 | |
Weichai Power Co. Ltd. - Class H | | | 572,536 | | | | 1,090,029 | |
| | | | | | | 5,669,473 | |
| | | | | | | | |
Information Technology - 26.5%(c) | | | | | |
ASMPT Ltd. | | | 39,991 | | | | 553,810 | |
Delta Electronics, Inc. | | | 128,646 | | | | 1,534,426 | |
Infosys Ltd. - ADR | | | 71,044 | | | | 1,322,839 | |
Silergy Corp. | | | 50,100 | | | | 710,634 | |
SK Hynix, Inc. | | | 20,266 | | | | 3,439,315 | |
Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | | | 40,201 | | | | 6,987,336 | |
Unimicron Technology Corp. | | | 184,600 | | | | 1,021,324 | |
| | | | | | | 15,569,684 | |
| | | | | | | | |
Materials - 1.3% | | | | | |
Mondi PLC | | | 40,218 | | | | 777,567 | |
TOTAL COMMON STOCKS (Cost $49,399,763) | | | | 55,273,620 | |
| | | | | | | | |
PREFERRED STOCKS - 3.1% | | Shares | | | Value | |
Financials - 1.5% | | | | | |
Itau Unibanco Holding SA 0.00%, - ADR | | | 147,495 | | | | 861,371 | |
| | | | | | | | |
Information Technology - 1.6% | | | | | |
Samsung Electronics Co. Ltd. 0.00%, | | | 20,735 | | | | 952,084 | |
TOTAL PREFERRED STOCKS (Cost $1,815,097) | | | | 1,813,455 | |
| | | | | | | | |
REAL ESTATE INVESTMENT TRUSTS - 0.8% | | Shares | | | Value | |
Growthpoint Properties Ltd. | | | 656,081 | | | | 439,220 | |
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $512,172) | | | | 439,220 | |
| | | | | | | | |
SHORT-TERM INVESTMENTS - 3.3% | | | | | | | | |
Money Market Funds - 3.3% | | Shares | | | | | |
First American Treasury Obligations Fund - Class X, 5.23% (d) | | | 1,960,952 | | | | 1,960,952 | |
TOTAL SHORT-TERM INVESTMENTS (Cost $1,960,952) | | | | 1,960,952 | |
| | | | | | | | |
TOTAL INVESTMENTS - 101.4% (Cost $53,687,984) | | | | 59,487,247 | |
Liabilities in Excess of Other Assets - (1.4)% | | | | (817,804 | ) |
TOTAL NET ASSETS - 100.0% | | | | | | $ | 58,669,443 | |
Boston Common ESG Impact Emerging Markets Fund has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
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 fair valuation hierarchy of the Fund’s securities as of June 30, 2024: