NPORT-EX 2 congress_lgcap.htm CONGRESS LARGE CAP GROWTH FUND 1/31/23 PART F EXHIBIT HTML

CONGRESS LARGE CAP GROWTH FUND
 
   
SCHEDULE OF INVESTMENTS at January 31, 2023 (Unaudited)
 
   
Shares
 
 
Value
 
COMMON STOCKS: 98.9%
     
Aerospace & Defense: 1.5%
     
 
13,450
 
Northrop Grumman Corp.
 
$
6,026,138
 
               
Banks: 2.0%
       
 
55,725
 
First Republic Bank
   
7,850,538
 
               
Beverages: 2.4%
       
 
56,300
 
PepsiCo, Inc.
   
9,628,426
 
               
Capital Markets: 1.5%
       
 
15,000
 
CME Group, Inc. - Class A
   
2,649,900
 
 
10,000
 
Moody’s Corp.
   
3,227,500
 
           
5,877,400
 
Chemicals: 1.9%
       
 
31,575
 
The Sherwin-Williams Co.
   
7,470,329
 
               
Communications Equipment: 1.5%
       
 
110,896
 
Ciena Corp. 1
   
5,768,810
 
               
Construction & Engineering: 1.6%
       
 
41,525
 
Quanta Services, Inc.
   
6,319,690
 
               
Electrical Equipment: 1.6%
       
 
40,000
 
Eaton Corp PLC
   
6,488,400
 
               
Food & Staples Retailing: 3.5%
       
 
26,900
 
Costco Wholesale Corp.
   
13,749,666
 
               
Health Care Equipment & Supplies: 4.6%
       
 
97,556
 
Abbott Laboratories
   
10,784,816
 
 
29,700
 
Intuitive Surgical, Inc. 1
   
7,296,993
 
           
18,081,809
 
Health Care Providers & Services: 2.7%
       
 
21,400
 
UnitedHealth Group, Inc.
   
10,682,666
 
               
Health Care Technology: 1.1%
       
 
24,714
 
Veeva Systems, Inc. - Class A 1
   
4,214,973
 
               
Hotels, Restaurants & Leisure: 1.3%
       
 
35,025
 
Darden Restaurants, Inc.
   
5,182,649
 
               
Household Products: 2.3%
       
 
64,600
 
The Procter & Gamble Co.
   
9,197,748
 
               
Interactive Media & Services: 4.3%
       
 
124,000
 
Alphabet, Inc. - Class A 1
   
12,256,160
 
 
49,500
 
Alphabet, Inc. - Class C 1
   
4,943,565
 
           
17,199,725
 
Internet & Direct Marketing Retail: 4.0%
       
 
155,600
 
Amazon.com, Inc. 1
   
16,047,028
 
               
IT Services: 6.3%
       
 
29,225
 
Accenture PLC - Class A
   
8,155,236
 
 
74,100
 
Visa, Inc. - Class A
   
17,058,561
 
           
25,213,797
 
Machinery: 5.0%
       
 
45,000
 
Caterpillar, Inc.
   
11,353,050
 
 
55,800
 
Dover Corp.
   
8,472,114
 
           
19,825,164
 
Metals & Mining: 2.4%
       
 
217,200
 
Freeport-McMoRan Copper & Gold, Inc.
   
9,691,464
 
               
Oil, Gas & Consumable Fuels: 4.0%
       
 
34,600
 
Chevron Corp.
   
6,021,092
 
 
43,700
 
Pioneer Natural Resources Co.
   
10,066,295
 
           
16,087,387
 
Personal Products: 1.5%
       
 
21,700
 
Estée Lauder Companies, Inc. - Class A
   
6,012,636
 
               
Pharmaceuticals: 4.4%
       
 
24,200
 
Eli Lilly & Co.
   
8,328,430
 
 
54,200
 
Zoetis, Inc.
   
8,969,558
 
           
17,297,988
 
Road & Rail: 1.3%
       
 
15,000
 
Old Dominion Freight Line, Inc.
   
4,998,600
 
               
Semiconductors & Semiconductor Equipment: 3.5%
       
 
26,000
 
NVIDIA Corp.
   
5,079,620
 
 
48,900
 
NXP Semiconductors NV
   
9,012,759
 
           
14,092,379
 
Software: 20.0%
       
 
41,275
 
Adobe, Inc. 1
   
15,285,783
 
 
26,500
 
Intuit, Inc.
   
11,200,755
 
 
96,800
 
Microsoft Corp.
   
23,988,008
 
 
19,675
 
Paycom Software, Inc. 1
   
6,373,520
 
 
20,500
 
Roper Technologies, Inc.
   
8,748,375
 
 
9,825
 
ServiceNow, Inc. 1
   
4,471,652
 
 
27,000
 
Synopsys, Inc. 1
   
9,551,250
 
           
79,619,343
 
Specialty Retail: 6.0%
       
 
45,475
 
The Home Depot, Inc.
   
14,741,631
 
 
11,700
 
O’Reilly Automotive, Inc. 1
   
9,270,495
 
           
24,012,126
 
Technology Hardware, Storage & Peripherals: 6.7%
       
 
184,000
 
Apple, Inc.
   
26,549,360
 
               
TOTAL COMMON STOCKS
       
(Cost $213,993,748)
   
393,186,239
 
               
SHORT-TERM INVESTMENTS: 1.1%
       
Money Market Funds: 1.1%
       
 
4,510,905
 
First American Treasury Obligations Fund - Institutional Class, 4.240% 2
   
4,510,905
 
TOTAL SHORT-TERM INVESTMENTS
       
(Cost $4,510,905)
   
4,510,905
 
               
TOTAL INVESTMENTS IN SECURITIES: 100.0%
       
(Cost $218,504,653)
   
397,697,144
 
Other Assets in Excess of Liabilities: 0.0% 3
   
58,965
 
TOTAL NET ASSETS: 100.0%
 
$
397,756,109
 

 
 1 
Non-income producing security.
       
 
 2 
Annualized seven-day effective yield as of January 31, 2023.
       
 
 3 
Does not round to 0.1% or (0.1)%, as applicable.
       
             
 
The Global Industry Classification Standard (“GICS®”) sector and industry classifications were developed by and/or are 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 the Congress Large Cap Growth Fund’s (the “Fund”) administrator, U.S. Bancorp Fund Services, LLC.
       


 
Congress Large Cap Growth Fund
Summary of Fair Value Exposure at January 31, 2023 (Unaudited)
 
 
 
 
 
The Fund utilizes various methods to measure the fair value of its investments on a recurring basis.  U.S. GAAP (Generally Accepted Accounting Principles) 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 January 31, 2023. See the Schedule of Investments for an industry breakout:

Description
 
Level 1
   
Level 2
   
Level 3
   
Total
                       
Common Stocks
 
$
393,186,239
   
$
-
   
$
-
   
$
393,186,239
Short-Term Investments
   
4,510,905
     
-
     
-
     
4,510,905
Total Investments in Securities
 
$
397,697,144
   
$
-
   
$
-
   
$
397,697,144