Becker Value Equity Fund
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SCHEDULE OF INVESTMENTS at July 31, 2023 (Unaudited)
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Shares
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Value
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COMMON STOCKS: 94.7%
|
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Communication Services: 8.2%
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||||||
10,015
|
Alphabet, Inc. - Class A 1
|
$
|
1,329,191
|
|||
88,315
|
Verizon Communications, Inc.
|
3,009,775
|
||||
28,480
|
The Walt Disney Co. 1
|
2,531,587
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||||
66,535
|
Warner Bros Discovery, Inc. 1
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869,612
|
||||
7,740,165
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Consumer Discretionary: 5.1%
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||||||
12,815
|
Amazon.com, Inc. 1
|
1,713,109
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||||
550
|
AutoZone, Inc. 1
|
1,364,946
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||||
2,844
|
The Home Depot, Inc.
|
949,441
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7,490
|
Starbucks Corp.
|
760,759
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||||
4,788,255
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Consumer Staples: 4.5%
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13,545
|
The Procter & Gamble Co.
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2,117,083
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13,378
|
Walmart, Inc.
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2,138,607
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4,255,690
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Energy: 7.5%
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||||||
40,117
|
Baker Hughes Co.
|
1,435,787
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||||
8,547
|
Chevron Corp.
|
1,398,802
|
||||
17,280
|
Exxon Mobil Corp.
|
1,853,107
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78,780
|
Kinder Morgan, Inc.
|
1,395,194
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15,346
|
Shell PLC - ADR
|
945,774
|
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7,028,664
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Financials: 15.2%
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||||||
8,860
|
Berkshire Hathaway, Inc. - Class B 1
|
3,118,366
|
||||
3,680
|
BlackRock, Inc.
|
2,718,968
|
||||
35,730
|
The Charles Schwab Corp.
|
2,361,753
|
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9,310
|
Chubb Ltd.
|
1,903,057
|
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5,150
|
The Goldman Sachs Group, Inc.
|
1,832,731
|
||||
15,265
|
JPMorgan Chase & Co.
|
2,411,259
|
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14,346,134
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Health Care: 16.9%
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||||||
12,875
|
Johnson & Johnson
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2,156,949
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140,606
|
Koninklijke Philips NV 1
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2,911,950
|
||||
3,370
|
McKesson Corp.
|
1,356,088
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||||
24,240
|
Medtronic PLC
|
2,127,303
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||||
14,685
|
Merck & Co., Inc.
|
1,566,155
|
||||
3,885
|
Molina Healthcare, Inc. 1
|
1,182,944
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||||
45,925
|
Pfizer, Inc.
|
1,656,056
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11,562
|
Quest Diagnostics, Inc.
|
1,563,298
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26,330
|
Sanofi - ADR
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1,405,232
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15,925,975
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Industrials: 11.4%
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||||||
31,090
|
Alaska Air Group, Inc. 1
|
1,511,907
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38,685
|
Carrier Global Corp.
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2,303,692
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11,155
|
Eaton Corp PLC
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2,290,345
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109,060
|
Embraer SA - ADR 1
|
1,705,698
|
||||
5,710
|
General Dynamics Corp.
|
1,276,642
|
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18,721
|
Raytheon Technologies Corp.
|
1,646,138
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10,734,422
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Information Technology: 16.2%
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||||||
9,995
|
Apple, Inc.
|
1,963,518
|
||||
12,215
|
Blackbaud, Inc. 1
|
921,622
|
||||
54,045
|
Cisco Systems, Inc.
|
2,812,502
|
||||
8,795
|
Microsoft Corp.
|
2,954,416
|
||||
40,160
|
PayPal Holdings, Inc. 1
|
3,044,931
|
||||
16,330
|
QUALCOMM, Inc.
|
2,158,336
|
||||
6,495
|
Salesforce.com, Inc. 1
|
1,461,440
|
||||
15,316,765
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Materials: 5.6%
|
||||||
6,425
|
Air Products and Chemicals, Inc.
|
1,961,745
|
||||
32,785
|
Methanex Corp.
|
1,476,636
|
||||
42,625
|
Newmont Corp.
|
1,829,465
|
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5,267,846
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||||||
Utilities: 4.1%
|
||||||
51,475
|
FirstEnergy Corp.
|
2,027,600
|
||||
25,715
|
The Southern Co.
|
1,860,223
|
||||
3,887,823
|
||||||
TOTAL COMMON STOCKS
|
||||||
(Cost $63,097,696)
|
89,291,739
|
|||||
SHORT-TERM INVESTMENTS: 5.2%
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||||||
Money Market Fund: 5.2%
|
||||||
4,944,000
|
First American Government Obligations Fund - Class X, 5.200% 2
|
4,944,000
|
||||
TOTAL SHORT-TERM INVESTMENTS
|
||||||
(Cost $4,944,000)
|
4,944,000
|
|||||
TOTAL INVESTMENTS IN SECURITIES: 99.9%
|
||||||
(Cost $68,041,696)
|
94,235,739
|
|||||
Other Assets in Excess of Liabilities: 0.1%
|
137,482
|
|||||
TOTAL NET ASSETS: 100.0%
|
$
|
94,373,221
|
ADR -
|
American Depository Receipt
|
||
1
|
Non-income producing security.
|
||
2
|
Annualized seven-day effective yield as of July 31, 2023.
|
||
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, 2023 (Unaudited)
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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:
|
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• 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, 2023:
|
Level 1
|
Level 2
|
Level 3
|
Total
|
||||||||||||
Common Stocks 1
|
$
|
89,291,739
|
$
|
-
|
$
|
-
|
$
|
89,291,739
|
|||||||
Short-Term Investments
|
4,944,000
|
-
|
-
|
4,944,000
|
|||||||||||
Total Investments in Securities
|
$
|
94,235,739
|
$
|
-
|
$
|
-
|
$
|
94,235,739
|
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1 See Schedule of Investments for sector breakouts.
|