Boston Common ESG Impact Emerging Markets Fund
Schedule of Investments
June 30, 2026 (Unaudited)

COMMON STOCKS - 98.5%

Shares  

Value  
Communication Services - 4.5%

Advanced Info Service PCL

            138,656

    $        1,562,198
Bharti Airtel Ltd.

            161,717

             3,167,914
SK Telecom Co. Ltd. - ADR

            16,308

             524,465
Tencent Holdings Ltd.

            15,865

             875,471




             6,130,048






Consumer Discretionary - 9.0%

Alibaba Group Holding Ltd.

            319,525

             3,830,610
Hankook Tire & Technology Co. Ltd.

            23,610

             952,415
MercadoLibre, Inc. (a)

            959

             1,627,797
Midea Group Co. Ltd. - Class A

            139,499

             1,555,243
Naspers Ltd.

            73,384

             3,684,890
Trip.com Group Ltd. - ADR (a)

            12,772

             508,837




             12,159,792






Consumer Staples - 4.8%

Avenue Supermarts Ltd. (a)(b)

            30,965

             1,433,702
Clicks Group Ltd.

            103,756

             1,440,866
Dabur India Ltd.

            182,414

             814,390
Dino Polska SA (a)(b)

            112,560

             850,399
Kimberly-Clark de Mexico SAB de CV - Class A

            368,786

             814,440
Raia Drogasil SA

            369,447

             1,200,168




             6,553,965






Financials - 18.1%

Axis Bank Ltd.

            157,843

             2,246,448
BDO Unibank, Inc.

            1,119,194

             2,172,791
China Merchants Bank Co. Ltd. - Class H

            312,507

             1,794,342
FirstRand Ltd.

            406,028

             2,413,389
Grupo Cibest SA - ADR

            26,592

             2,112,203
HDFC Bank Ltd. - ADR

            138,596

             3,579,935
Itau Unibanco Holding SA - ADR

            288,402

             2,356,244
OTP Bank Nyrt

            15,522

             2,292,693
Ping An Insurance Group Co. of China Ltd. - Class H

            429,983

             2,811,565
Power Finance Corp. Ltd.

            203,840

             915,299
Powszechna Kasa Oszczednosci Bank Polski SA

            69,348

             1,904,093




             24,599,002






Health Care - 2.3%

Cipla Ltd./India

            78,780

             1,221,045
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. - Class A

            64,286

             1,289,551
Sino Biopharmaceutical Ltd.

            1,078,000

             609,166




             3,119,762






Industrials - 11.6%

AirTAC International Group

            44,952

             1,905,448
Contemporary Amperex Technology Co. Ltd. - Class A

            51,408

             2,988,325
HD Hyundai Electric Co. Ltd.

            3,758

             2,410,686
Shenzhen Inovance Technology Co. Ltd. - Class A

            151,525

             1,485,864
Sungrow Power Supply Company Ltd. - Class A

            50,655

             1,188,502
Techtronic Industries Co. Ltd.

            114,532

             1,905,991
WEG SA

            229,657

             2,086,901


Weichai Power Co. Ltd. - Class H

            415,936

             1,824,538




             15,796,255






Information Technology - 46.0% (c)

Accton Technology Corp.

            61,000

             4,865,492
Advanced Micro-Fabrication Equipment, Inc. China - Class A

            81,300

             5,658,001
ASE Technology Holding Co. Ltd.

            102,618

             2,290,081
Delta Electronics, Inc.

            77,146

             4,845,061
Infosys Ltd. - ADR

            63,548

             666,619
Lenovo Group Ltd.

            541,195

             1,605,890
Samsung Electro-Mechanics Co. Ltd.

            2,617

             3,790,043
Samsung Electronics Co. Ltd.

            76,746

             17,029,726
Silergy Corp.

            130,000

             2,484,845
SK Hynix, Inc.

            1,437

             2,535,705
Taiwan Semiconductor Manufacturing Co. Ltd. - ADR

            35,050

             16,738,828




             62,510,291






Materials - 1.1%

Sociedad Quimica y Minera de Chile SA - ADR

            19,390

             1,435,636






Utilities - 1.1%

Cia de Saneamento Basico do Estado de Sao Paulo SABESP

            260,061

             1,496,700
TOTAL COMMON STOCKS (Cost $87,662,753)

             133,801,451






REAL ESTATE INVESTMENT TRUSTS - 0.7%

Shares  

Value  
Real Estate - 0.7%

Prologis Property Mexico SAB de CV

            211,242

             912,010
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $693,177)

             912,010






SHORT-TERM INVESTMENTS
MONEY MARKET FUNDS - 0.7%
Shares  

Value  
First American Treasury Obligations Fund - Class X, 3.58% (d)

            947,998

             947,998
TOTAL MONEY MARKET FUNDS (Cost $947,998)

             947,998






TOTAL INVESTMENTS - 99.9% (Cost $89,303,928)

             135,661,459
Other Assets in Excess of Liabilities - 0.1%
0.00102
            138,870
TOTAL NET ASSETS - 100.0%




    $        135,800,329


Percentages are stated as a percent of net assets.




ADR - American Depositary Receipt
PCL - Public Company Limited
The Global Industry Classification Standard (“GICS®”) was developed by and/or is the exclusive property of MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.





(a)

Non-income producing security.
(b)

Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of June 30, 2026, the value of these securities total $2,284,101 or 1.7% of the Fund’s net assets.
(c)

To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect that industry or sector.
(d)

The rate shown represents the 7-day annualized yield as of June 30, 2026.


Summary of Fair Value Disclosure as of June 30, 2026 (Unaudited)
 
Boston Common ESG Impact Emerging Markets Fund has adopted fair value accounting standards which establish a 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 valuation 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 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, 2026:



Level 1

Level 2

Level 3

Total
Investments:







  Common Stocks
    $        36,589,639

    $        97,211,812

    $        –

    $        133,801,451
  Real Estate Investment Trusts
            912,010

            –

            –

            912,010
  Money Market Funds
            947,998

            –

            –

            947,998
Total Investments
    $        38,449,647

    $        97,211,812

    $        –

    $        135,661,459





 

Refer to the Schedule of Investments for further disaggregation of investment categories.





Allocation of Portfolio Holdings by Country as of June 30, 2026 (Unaudited)


(% of Net Assets)


Taiwan
    $        30,644,910

        22.6%
South Korea
             27,243,040

        20.1 
China
             25,562,137

        18.8 
India
             14,045,352

        10.2 
South Africa
             7,539,145

        5.6 
Brazil
             7,140,013

        5.2 
Hong Kong
             6,345,767

        4.6 
Poland
             2,754,492

        2.0 
Hungary
             2,292,693

        1.7 
Philippines
             2,172,791

        1.6 
Colombia
             2,112,203

        1.6 
Mexico
             1,726,450

        1.3 
Uruguay
             1,627,797

        1.2 
Thailand
             1,562,198

        1.2 
Chile
             1,435,636

        1.1 
Singapore
             508,837

        0.4 
United States
             947,998

        0.7 
Other Assets in Excess of Liabilities
            138,870

        0.1

    $        135,800,329

        100.0%