# EDGAR Filing Document

**Accession Number:** 0000811030
**File Stem:** 0000894189-25-014224
**Filing Date:** 2025-11
**Character Count:** 28465
**Document Hash:** 8e2334410717a29e82d107fbdfd77e70
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-014224.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0000894189-25-014224

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251121

**DATE AS OF CHANGE**: 20251121

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PROFESSIONALLY MANAGED PORTFOLIOS
- **CENTRAL INDEX KEY:** 0000811030

**ORGANIZATION NAME:**
- **EIN:** 566415270
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05037
- **FILM NUMBER:** 251507691

**BUSINESS ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 414-218-3770

**MAIL ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AVONDALE INVESTMENT TRUST
- **DATE OF NAME CHANGE:** 19910529

## Series and Classes Contracts Data

### Bridges Investment Fund (Series ID: S000079190)

| Class ID   | Class Name              | Ticker Symbol   |
|:---|:---|:---|
| C000240112 | Bridges Investment Fund | BRGIX           |

## Nport-Ex

---

| | | | |
|:---|:---|:---|:---|
| **Bridges Investment Fund** | **Bridges Investment Fund** | **Bridges Investment Fund** | **Bridges Investment Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 98.9%** | **COMMON STOCKS - 98.9%** | **Shares** | **Value**  |
| **Administrative and Support Services - 7.6%** | **Administrative and Support Services - 7.6%** | **Administrative and Support Services - 7.6%** | |
| Mastercard, Inc. - Class A | Mastercard, Inc. - Class A | 17684 | $10058836 |
| Visa, Inc. - Class A | Visa, Inc. - Class A | 24650 | 8415017 |
|  |  |  | 18473853 |
| **Apparel Manufacturing - 0.6%** | **Apparel Manufacturing - 0.6%** | **Apparel Manufacturing - 0.6%** |  |
| Cintas Corp. | Cintas Corp. | 7000 | 1436820 |
| **Building Material and Garden Equipment and Supplies Dealers - 1.4%** | **Building Material and Garden Equipment and Supplies Dealers - 1.4%** | **Building Material and Garden Equipment and Supplies Dealers - 1.4%** |  |
| Lowe's Cos., Inc. | Lowe's Cos., Inc. | 13500 | 3392685 |
| **Chemical Manufacturing - 0.5%** | **Chemical Manufacturing - 0.5%** | **Chemical Manufacturing - 0.5%** |  |
| Zoetis, Inc. | Zoetis, Inc. | 8800 | 1287616 |
| **Computer and Electronic Product Manufacturing - 21.4%** | **Computer and Electronic Product Manufacturing - 21.4%** | **Computer and Electronic Product Manufacturing - 21.4%** |  |
| Apple, Inc. | Apple, Inc. | 57300 | 14590299 |
| NVIDIA Corp. | NVIDIA Corp. | 125500 | 23415790 |
| Palo Alto Networks, Inc. <sup>(a)</sup> | Palo Alto Networks, Inc. <sup>(a)</sup> | 53000 | 10791860 |
| Thermo Fisher Scientific, Inc. | Thermo Fisher Scientific, Inc. | 6500 | 3152630 |
|  |  |  | 51950579 |
| **Credit Intermediation and Related Activities - 2.6%** | **Credit Intermediation and Related Activities - 2.6%** | **Credit Intermediation and Related Activities - 2.6%** |  |
| JPMorgan Chase & Co. | JPMorgan Chase & Co. | 20250 | 6387458 |
| **Food and Beverage Retailers - 2.0%** | **Food and Beverage Retailers - 2.0%** | **Food and Beverage Retailers - 2.0%** |  |
| Casey's General Stores, Inc. | Casey's General Stores, Inc. | 8500 | 4805220 |
| **Funds, Trusts, and Other Financial Vehicles - 1.2%** | **Funds, Trusts, and Other Financial Vehicles - 1.2%** | **Funds, Trusts, and Other Financial Vehicles - 1.2%** |  |
| Alcon AG | Alcon AG | 37500 | 2794125 |
| **Furniture, Home Furnishings, Electronics, and Appliance Retailers - 1.0%** | **Furniture, Home Furnishings, Electronics, and Appliance Retailers - 1.0%** | **Furniture, Home Furnishings, Electronics, and Appliance Retailers - 1.0%** |  |
| Floor & Decor Holdings, Inc. - Class A <sup>(a)</sup> | Floor & Decor Holdings, Inc. - Class A <sup>(a)</sup> | 31750 | 2339975 |
| **Health and Personal Care Retailers - 0.6%** | **Health and Personal Care Retailers - 0.6%** | **Health and Personal Care Retailers - 0.6%** |  |
| Ulta Beauty, Inc. <sup>(a)</sup> | Ulta Beauty, Inc. <sup>(a)</sup> | 2750 | 1503563 |
| **Insurance Carriers and Related Activities - 5.3%** | **Insurance Carriers and Related Activities - 5.3%** | **Insurance Carriers and Related Activities - 5.3%** |  |
| Berkshire Hathaway, Inc. - Class B <sup>(a)</sup> | Berkshire Hathaway, Inc. - Class B <sup>(a)</sup> | 13250 | 6661305 |
| Progressive Corp. | Progressive Corp. | 25000 | 6173750 |
|  |  |  | 12835055 |
| **Machinery Manufacturing - 0.7%** | **Machinery Manufacturing - 0.7%** | **Machinery Manufacturing - 0.7%** |  |
| BWX Technologies, Inc. | BWX Technologies, Inc. | 8750 | 1613237 |
| **Merchant Wholesalers, Durable Goods - 1.1%** | **Merchant Wholesalers, Durable Goods - 1.1%** | **Merchant Wholesalers, Durable Goods - 1.1%** |  |
| Copart, Inc. <sup>(a)</sup> | Copart, Inc. <sup>(a)</sup> | 30000 | 1349100 |
| Pool Corp. | Pool Corp. | 3900 | 1209273 |
|  |  |  | 2558373 |
| **Miscellaneous Manufacturing - 2.5%** | **Miscellaneous Manufacturing - 2.5%** | **Miscellaneous Manufacturing - 2.5%** |  |
| Intuitive Surgical, Inc. <sup>(a)</sup> | Intuitive Surgical, Inc. <sup>(a)</sup> | 9000 | 4025070 |
| Stryker Corp. | Stryker Corp. | 5800 | 2144086 |
|  |  |  | 6169156 |
| **Motor Vehicle and Parts Dealers - 2.0%** | **Motor Vehicle and Parts Dealers - 2.0%** | **Motor Vehicle and Parts Dealers - 2.0%** |  |
| AutoZone, Inc. <sup>(a)</sup> | AutoZone, Inc. <sup>(a)</sup> | 400 | 1716096 |
| Lithia Motors, Inc. | Lithia Motors, Inc. | 10000 | 3160000 |
|  |  |  | 4876096 |
| **Oil and Gas Extraction - 0.7%** | **Oil and Gas Extraction - 0.7%** | **Oil and Gas Extraction - 0.7%** |  |
| EOG Resources, Inc. | EOG Resources, Inc. | 16000 | 1793920 |
| **Petroleum and Coal Products Manufacturing - 0.4%** | **Petroleum and Coal Products Manufacturing - 0.4%** | **Petroleum and Coal Products Manufacturing - 0.4%** |  |
| Carlisle Cos., Inc. | Carlisle Cos., Inc. | 3076 | 1011881 |
| **Professional, Scientific, and Technical Services - 12.8%** | **Professional, Scientific, and Technical Services - 12.8%** | **Professional, Scientific, and Technical Services - 12.8%** |  |
| Alphabet, Inc. - Class A | Alphabet, Inc. - Class A | 73434 | 17851805 |
| Alphabet, Inc. - Class C | Alphabet, Inc. - Class C | 29891 | 7279953 |
| ServiceNow, Inc. <sup>(a)</sup> | ServiceNow, Inc. <sup>(a)</sup> | 6450 | 5935806 |
|  |  |  | 31067564 |
| **Publishing Industries - 12.0%** | **Publishing Industries - 12.0%** | **Publishing Industries - 12.0%** |  |
| Adobe, Inc. <sup>(a)</sup> | Adobe, Inc. <sup>(a)</sup> | 9500 | 3351125 |
| Cadence Design Systems, Inc. <sup>(a)</sup> | Cadence Design Systems, Inc. <sup>(a)</sup> | 8000 | 2810080 |
| Microsoft Corp. | Microsoft Corp. | 44250 | 22919288 |
|  |  |  | 29080493 |
| **Rail Transportation - 1.3%** | **Rail Transportation - 1.3%** | **Rail Transportation - 1.3%** |  |
| Union Pacific Corp. | Union Pacific Corp. | 13050 | 3084628 |
| **Rental and Leasing Services - 1.7%** | **Rental and Leasing Services - 1.7%** | **Rental and Leasing Services - 1.7%** |  |
| United Rentals, Inc. | United Rentals, Inc. | 4200 | 4009572 |
| **Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 4.8%** | **Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 4.8%** | **Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 4.8%** |  |
| Blackrock, Inc. | Blackrock, Inc. | 3150 | 3672491 |
| Intercontinental Exchange, Inc. | Intercontinental Exchange, Inc. | 20000 | 3369600 |
| S&P Global, Inc. | S&P Global, Inc. | 9500 | 4623745 |
|  |  |  | 11665836 |
| **Sporting Goods, Hobby, Musical Instrument, Book, and Miscellaneous Retailers - 7.2%** | **Sporting Goods, Hobby, Musical Instrument, Book, and Miscellaneous Retailers - 7.2%** | **Sporting Goods, Hobby, Musical Instrument, Book, and Miscellaneous Retailers - 7.2%** |  |
| Amazon.com, Inc. <sup>(a)</sup> | Amazon.com, Inc. <sup>(a)</sup> | 79060 | 17359204 |
| **Truck Transportation - 2.3%** | **Truck Transportation - 2.3%** | **Truck Transportation - 2.3%** |  |
| Old Dominion Freight Line, Inc. | Old Dominion Freight Line, Inc. | 40000 | 5631200 |
| **Web Search Portals, Libraries, Archives, and Other Information Services - 5.2%** | **Web Search Portals, Libraries, Archives, and Other Information Services - 5.2%** | **Web Search Portals, Libraries, Archives, and Other Information Services - 5.2%** |  |
| Meta Platforms, Inc. - Class A | Meta Platforms, Inc. - Class A | 17000 | 12484460 |
| **TOTAL COMMON STOCKS** (Cost $61,084,271) | **TOTAL COMMON STOCKS** (Cost $61,084,271) | **TOTAL COMMON STOCKS** (Cost $61,084,271) | 239612569 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS - 1.1%** | **MONEY MARKET FUNDS - 1.1%** | **Shares** | **Value**  |
| First American Treasury Obligations Fund - Class X, 4.02%<sup>(b)</sup> | First American Treasury Obligations Fund - Class X, 4.02%<sup>(b)</sup> | 2693346 | 2693346 |
| **TOTAL MONEY MARKET FUNDS** (Cost $2,693,346) | **TOTAL MONEY MARKET FUNDS** (Cost $2,693,346) | **TOTAL MONEY MARKET FUNDS** (Cost $2,693,346) | 2693346 |
| **TOTAL INVESTMENTS - 100.0% (**Cost $63,777,617**)** | **TOTAL INVESTMENTS - 100.0% (**Cost $63,777,617**)** | **TOTAL INVESTMENTS - 100.0% (**Cost $63,777,617**)** | 242305915 |
| Liabilities in Excess of Other Assets - (0.0)% <sup>(c)</sup> | Liabilities in Excess of Other Assets - (0.0)% <sup>(c)</sup> | Liabilities in Excess of Other Assets - (0.0)% <sup>(c)</sup> | (114630) |
| **TOTAL NET ASSETS - 100.0%** | 0.0% | 0.0% | $242191285 |
| two | two | two | –% |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |

---

(a) Non-income producing security.

(b) The rate shown represents the 7-day annualized yield as of September 30, 2025.

(c) Represents less than 0.05% of net assets.

------

#### <br>

#### Summary of Fair Value Disclosure as of September 30, 2025 (Unaudited)
Bridges Investment Fund (the "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 September 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $239612569 | $– | $– | $239612569 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 2693346 | – | – | 2693346 |
| Total Investments | $242305915 | $– | $– | $242305915 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Professionally Managed Portfolios

- **b. Investment Company Act file number:** 811-05037

- **c. CIK number of Registrant:** 0000811030

- **d. LEI of Registrant:** 254900BPISCYGRJD2727

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 615 East Michigan Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 414-516-1523

**Item A.2. Information about the Series.**

- **a. Name of Series:** Bridges Investment Fund

- **b. EDGAR series identifier (if any):** S000079190

- **c. LEI of Series:** 254900VZN5208A589M22

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $242366759.40

**Total Liabilities:** $165475.17

**Net Assets:** $242201284.23

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000240112 | 1.58%                | 2.08%                | 1.74%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2302101.40              | $1400823.52                                |
| Month 2  | $477841.01               | $4405263.75                                |
| Month 3  | $3032.32                 | $4194681.98                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                           | Title                                    | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Blackrock Inc                  | Blackrock Inc                            | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |      3150 | NS      | $3672490.50   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                 | S&P Global Inc                           | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |      9500 | NS      | $4623745.00   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Casey's General Stores Inc     | Casey's General Stores Inc               | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |      8500 | NS      | $4805220.00   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                       | Visa Inc                                 | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     24650 | NS      | $8415017.00   | 3.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                      | Adobe Inc                                | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      9500 | NS      | $3351125.00   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                   | Alphabet Inc                             | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     29891 | NS      | $7279953.05   | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                   | Alphabet Inc                             | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     73434 | NS      | $17851805.40  | 7.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                      | Apple Inc                                | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     57300 | NS      | $14590299.00  | 6.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems Inc     | Cadence Design Systems Inc               | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |      8000 | NS      | $2810080.00   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlisle Cos Inc               | Carlisle Cos Inc                         | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |      3076 | NS      | $1011880.96   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corp                    | Cintas Corp                              | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7000 | NS      | $1436820.00   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Copart Inc                     | Copart Inc                               | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |     30000 | NS      | $1349100.00   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc              | EOG Resources Inc                        | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     16000 | NS      | $1793920.00   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Treasury Obliga | First American Treasury Obligations Fund | CUSIP: 31846V328<br>LEI: 549300UU586IAH2B8H03 | Long             | STIV             | RF                | US        |   2708441 | NS      | $2708440.96   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Floor & Decor Holdings Inc     | Floor & Decor Holdings Inc               | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Long             | EC               | CORP              | US        |     31750 | NS      | $2339975.00   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc         | Intuitive Surgical Inc                   | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |      9000 | NS      | $4025070.00   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co            | JPMorgan Chase & Co                      | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     20250 | NS      | $6387457.50   | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                 | Microsoft Corp                           | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     44250 | NS      | $22919287.50  | 9.46%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                    | NVIDIA Corp                              | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    125500 | NS      | $23415790.00  | 9.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Dominion Freight Line Inc  | Old Dominion Freight Line Inc            | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |     40000 | NS      | $5631200.00   | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc         | Palo Alto Networks Inc                   | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |     53000 | NS      | $10791860.00  | 4.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Pool Corp                      | Pool Corp                                | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Long             | EC               | CORP              | US        |      3900 | NS      | $1209273.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Progressive Corp/The           | Progressive Corp/The                     | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |     25000 | NS      | $6173750.00   | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corp                   | Stryker Corp                             | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |      5800 | NS      | $2144086.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc   | Thermo Fisher Scientific Inc             | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      6500 | NS      | $3152630.00   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Ulta Beauty Inc                | Ulta Beauty Inc                          | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |      2750 | NS      | $1503562.50   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp             | Union Pacific Corp                       | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     13050 | NS      | $3084628.50   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals Inc             | United Rentals Inc                       | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |      4200 | NS      | $4009572.00   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc                     | Zoetis Inc                               | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |      8800 | NS      | $1287616.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcon AG                       | Alcon AG                                 | CUSIP: N/A<br>LEI: 549300LDT5AP8S0NBM78       | Long             | EC               | CORP              | CH        |     37500 | NS      | $2794125.00   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc             | Meta Platforms Inc                       | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     17000 | NS      | $12484460.00  | 5.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Lithia Motors Inc              | Lithia Motors Inc                        | CUSIP: 536797103<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | EC               | CORP              | US        |     10000 | NS      | $3160000.00   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowe's Cos Inc                 | Lowe's Cos Inc                           | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |     13500 | NS      | $3392685.00   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                 | Mastercard Inc                           | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     17684 | NS      | $10058836.04  | 4.15%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc                 | ServiceNow Inc                           | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |      6450 | NS      | $5935806.00   | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc         | Berkshire Hathaway Inc                   | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |     13250 | NS      | $6661305.00   | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc  | Intercontinental Exchange Inc            | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |     20000 | NS      | $3369600.00   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                 | Amazon.com Inc                           | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     79060 | NS      | $17359204.20  | 7.17%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoZone Inc                   | AutoZone Inc                             | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |       400 | NS      | $1716096.00   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc           | BWX Technologies Inc                     | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |      8750 | NS      | $1613237.50   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-21

**Name of Applicant:** Professionally Managed Portfolios

**Signature:** /s/ Craig Benton

**Name of Signer:** Craig Benton

**Title:** Treasurer/Principal Financial Officer