# EDGAR Filing Document

**Accession Number:** 0000811030
**File Stem:** 0001145549-23-001941
**Filing Date:** 2023-1
**Character Count:** 39042
**Document Hash:** ad475e987f4c08410152ef5419565383
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-001941.hdr.sgml**: 20230123

**ACCESSION NUMBER**: 0001145549-23-001941

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230123

**DATE AS OF CHANGE**: 20230123

**PERIOD START**: 20230831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PROFESSIONALLY MANAGED PORTFOLIOS
- **CENTRAL INDEX KEY:** 0000811030
- **IRS NUMBER:** 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:** 23543145

**BUSINESS ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 626-914-7363

**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

### Villere Balanced Fund (Series ID: S000004946)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000013362 | Investor Class | VILLX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Villere Balanced Fund** | **Villere Balanced Fund** | **Villere Balanced Fund** |
| SCHEDULE OF INVESTMENTS at November 30, 2022 (Unaudited) | SCHEDULE OF INVESTMENTS at November 30, 2022 (Unaudited) | SCHEDULE OF INVESTMENTS at November 30, 2022 (Unaudited) |
| **Shares** |  | **Value** |
| **COMMON STOCKS: 71.3%** | **COMMON STOCKS: 71.3%** |  |
| **Administrative & Support Services: 0.7%** | **Administrative & Support Services: 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21284 | TTEC Holdings, Inc. | $1020568 |
| **Amusement, Gambling & Recreation Industries: 2.2%** | **Amusement, Gambling & Recreation Industries: 2.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61649 | Caesars Entertainment, Inc.<sup>1</sup> | 3132386 |
| **Beverage & Tobacco Product Manufacturing: 3.7%** | **Beverage & Tobacco Product Manufacturing: 3.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34695 | Monster Beverage Corp.<sup>1</sup> | 3568728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9000 | PepsiCo, Inc. | 1669590 |
|  |  | 5238318 |
| **Chemical Manufacturing: 5.6%** | **Chemical Manufacturing: 5.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24070 | Colgate-Palmolive Co. | 1864944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18295 | International Flavors & Fragrances, Inc.<sup>2</sup> | 1935977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55338 | Ligand Pharmaceuticals, Inc.<sup>1</sup> | 4034140 |
|  |  | 7835061 |
| **Computer & Electronic Product Manufacturing: 10.0%** | **Computer & Electronic Product Manufacturing: 10.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8450 | IDEXX Laboratories, Inc.<sup>1</sup> | 3598601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43710 | ON Semiconductor Corp.<sup>1,</sup> <sup>2</sup> | 3286992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16365 | Roper Technologies, Inc. | 7182435 |
|  |  | 14068028 |
| **Credit Intermediation: 16.3%** | **Credit Intermediation: 16.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48230 | Euronet Worldwide, Inc.<sup>1, 2</sup> | 4482979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67237 | First Hawaiian, Inc.<sup>2</sup> | 1785142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 466413 | Kearny Financial Corp. | 4510214 |
| &nbsp;&nbsp;&nbsp;&nbsp; 278282 | Open Lending Corp. - Class A<sup>1, 2</sup> | 1967454 |
| &nbsp;&nbsp;&nbsp;&nbsp; 470133 | Paya Holdings, Inc. - Class A<sup>1</sup> | 4376938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27585 | Visa, Inc. - Class A<sup>2</sup> | 5985945 |
|  |  | 23108672 |
| **Health Care Equipment Manufacturing: 10.0%** | **Health Care Equipment Manufacturing: 10.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34025 | STERIS PLC | 6319804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13450 | Stryker Corp. | 3145820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19885 | Teleflex, Inc. | 4655476 |
|  |  | 14121100 |
| **Insurance Carriers & Related Activities: 4.1%** | **Insurance Carriers & Related Activities: 4.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92739 | Palomar Holdings, Inc.<sup>1, 2</sup> | 5818445 |
| **Merchant Wholesalers: 2.1%** | **Merchant Wholesalers: 2.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 151606 | On Holding AG - Class A<sup>1</sup>, <sup>2</sup> | 2944188 |
| **Mining: 5.8%** | **Mining: 5.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206925 | Freeport-McMoRan, Inc.<sup>2</sup> | 8235615 |
| **Professional, Scientific & Technical Services: 2.7%** | **Professional, Scientific & Technical Services: 2.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 148779 | Ebix, Inc.<sup>2</sup> | 2825313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 271160 | OmniAb, Inc. | 959906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20985 | OmniAb, Inc. | – |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20985 | OmniAb, Inc. | – |
|  |  | 3785219 |
| **Publishing Industries: 1.0%** | **Publishing Industries: 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 656150 | Porch Group, Inc.<sup>1, 2</sup> | 1338546 |
| **Sporting & Recreation Goods: 3.3%** | **Sporting & Recreation Goods: 3.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14312 | Pool Corp. <sup>2</sup> | 4714516 |
| **Truck Transportation: 3.8%** | **Truck Transportation: 3.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29510 | J.B. Hunt Transport Services, Inc.<sup>2</sup> | 5426594 |
| **TOTAL COMMON STOCKS** | **TOTAL COMMON STOCKS** |  |
| &nbsp;&nbsp;&nbsp; (Cost $99,704,843) | &nbsp;&nbsp;&nbsp; (Cost $99,704,843) | 100787256 |
| **PREFERRED STOCKS: 2.0%** | **PREFERRED STOCKS: 2.0%** |  |
| **Diversified Financials: 2.0%** | **Diversified Financials: 2.0%** |  |
|  | B Riley Financial, Inc., |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47800 | 6.750% <sup>2</sup> | 1189264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 72000 | 6.500% | 1672560 |
|  |  | 2861824 |
| **TOTAL PREFERRED STOCKS** | **TOTAL PREFERRED STOCKS** |  |
| &nbsp;&nbsp;&nbsp; (Cost $2,995,000) | &nbsp;&nbsp;&nbsp; (Cost $2,995,000) | 2861824 |
| **Principal Amount** | **Principal Amount** |  |
| **CORPORATE BONDS: 17.3%** | **CORPORATE BONDS: 17.3%** |  |
| **Administrative & Support Services: 0.4%** | **Administrative & Support Services: 0.4%** |  |
|  | Scotts Miracle-Gro Co., |  |
|  | &nbsp;&nbsp;&nbsp; 4.500%, |  |
| $700000 | &nbsp;&nbsp;&nbsp; 10/15/2029 <sup>2</sup> | 573132 |
| **Chemical Manufacturing: 1.7%** | **Chemical Manufacturing: 1.7%** |  |
|  | HB Fuller Co., |  |
|  | &nbsp;&nbsp;&nbsp; 4.000%, |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2418000 | &nbsp;&nbsp;&nbsp; 2/15/27 | 2238451 |
|  | Kimberly-Clark Corp., |  |
|  | &nbsp;&nbsp;&nbsp; 3.200%, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp; 4/25/29 | 91516 |
|  |  | 2329967 |
| **Computer & Electronic Product Manufacturing: 0.6%** | **Computer & Electronic Product Manufacturing: 0.6%** |  |
|  | Alphabet, Inc., |  |
|  | &nbsp;&nbsp;&nbsp; 0.800%, |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp; 8/15/27 | 867261 |
| **Credit Intermediation: 0.2%** | **Credit Intermediation: 0.2%** |  |
|  | Visa, Inc., |  |
|  | &nbsp;&nbsp;&nbsp; 0.750%, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 321000 | &nbsp;&nbsp;&nbsp; 8/15/27 | 274778 |
| **Fabricated Metal Product Manufacturing: 1.9%** | **Fabricated Metal Product Manufacturing: 1.9%** |  |
|  | Emerson Electric Co., |  |
|  | &nbsp;&nbsp;&nbsp; 0.875%, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 950000 | &nbsp;&nbsp;&nbsp; 10/15/26 | 827738 |
|  | Stanley Black & Decker, Inc., |  |
|  | &nbsp;&nbsp;&nbsp; 2.300%, |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp; 2/24/25 | 1898495 |
|  |  | 2726233 |
| **Insurance Carriers & Related Activities: 0.5%** | **Insurance Carriers & Related Activities: 0.5%** |  |
|  | Reinsurance Group of America, Inc., |  |
|  | &nbsp;&nbsp;&nbsp; 3.900%, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp; 5/15/29 | 732683 |
| **Machinery Manufacturing: 0.6%** | **Machinery Manufacturing: 0.6%** |  |
|  | Brunswick Corp., |  |
|  | &nbsp;&nbsp;&nbsp; 4.400%, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 960000 | &nbsp;&nbsp;&nbsp; 9/15/32 | 804277 |
| **Merchant Wholesalers & Durable Goods: 1.2%** | **Merchant Wholesalers & Durable Goods: 1.2%** |  |
|  | Avnet, Inc., |  |
|  | &nbsp;&nbsp;&nbsp; 3.000%, |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp; 5/15/31 | 776641 |
|  | Hubbell, Inc., |  |
|  | &nbsp;&nbsp;&nbsp; 3.500%, |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1045000 | &nbsp;&nbsp;&nbsp; 2/15/28 | 969993 |
|  |  | 1746634 |
| **Nonstore Retailers: 0.9%** | **Nonstore Retailers: 0.9%** |  |
|  | Amazon.com, Inc., |  |
|  | &nbsp;&nbsp;&nbsp; 1.650%, |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp; 5/12/28 <sup>2</sup> | 1302508 |
| **Paper Manufacturing: 0.6%** | **Paper Manufacturing: 0.6%** |  |
|  | Sonoco Products Co., |  |
|  | &nbsp;&nbsp;&nbsp; 2.250%, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 950000 | &nbsp;&nbsp;&nbsp; 2/1/27 | 850151 |
| **Primary Metal Manufacturing: 0.3%** | **Primary Metal Manufacturing: 0.3%** |  |
|  | Reliance Steel & Aluminum Co., |  |
|  | &nbsp;&nbsp;&nbsp; 1.300%, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 490000 | &nbsp;&nbsp;&nbsp; 8/15/25 | 441254 |
| **Rail Transportation: 1.2%** | **Rail Transportation: 1.2%** |  |
|  | Union Pacific Corp., |  |
|  | &nbsp;&nbsp;&nbsp; 2.800%, |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp; 2/14/32 | 1728481 |
| **Transportation Equipment Manufacturing: 2.6%** | **Transportation Equipment Manufacturing: 2.6%** |  |
|  | Honda Motor Co Ltd., |  |
|  | &nbsp;&nbsp;&nbsp; 2.534%, |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp; 3/10/2027 <sup>2</sup> | 1101470 |
|  | Toyota Motor Corp., |  |
|  | &nbsp;&nbsp;&nbsp; 1.339%, |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2900000 | &nbsp;&nbsp;&nbsp; 3/25/26 | 2611056 |
|  |  | 3712526 |
| **Utilities: 4.6%** | **Utilities: 4.6%** |  |
|  | Duke Energy Corp., |  |
|  | &nbsp;&nbsp;&nbsp; 0.900%, |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp; 9/15/25 | 901987 |
|  | NextEra Energy Capital Holdings, Inc., |  |
|  | &nbsp;&nbsp;&nbsp; 2.940%, |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp; 3/21/24 <sup>2</sup> | 1942700 |
|  | Pacific Gas and Electric Co., |  |
|  | &nbsp;&nbsp;&nbsp; 4.200%, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp; 3/1/29 | 537936 |
|  | Public Service Enterprise Group, Inc., |  |
|  | &nbsp;&nbsp;&nbsp; 5.850%, |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp; 11/15/27 <sup>2</sup> | 1543325 |
|  | The Southern Co., |  |
|  | &nbsp;&nbsp;&nbsp; 5.113%, |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp; 8/1/27 | 1494649 |
|  |  | 6420597 |
| **TOTAL CORPORATE BONDS** | **TOTAL CORPORATE BONDS** |  |
| &nbsp;&nbsp;&nbsp; (Cost $26,971,373) | &nbsp;&nbsp;&nbsp; (Cost $26,971,373) | 24510482 |
| **Shares** |  |  |
| **SHORT-TERM INVESTMENTS: 9.3%** | **SHORT-TERM INVESTMENTS: 9.3%** |  |
| **Money Market Funds: 9.3%** | **Money Market Funds: 9.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;13169013 | Invesco Government & Agency Portfolio - Institutional Class, 3.734% <sup>3</sup> | 13169013 |
| **TOTAL SHORT-TERM INVESTMENTS** | **TOTAL SHORT-TERM INVESTMENTS** |  |
| &nbsp;&nbsp;&nbsp; (Cost $13,169,013) | &nbsp;&nbsp;&nbsp; (Cost $13,169,013) | 13169013 |
| **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING: 30.3%** | **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING: 30.3%** |  |
| **Private Funds: 30.3%** | **Private Funds: 30.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;42892706 | Mount Vernon Liquid Assets Portfolio, 4.560% <sup>3</sup> | 42892706 |
| **TOTAL INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING** | **TOTAL INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING** |  |
| &nbsp;&nbsp;&nbsp; (Cost $42,892,706) | &nbsp;&nbsp;&nbsp; (Cost $42,892,706) | 42892706 |
| **TOTAL INVESTMENTS IN SECURITIES: 130.2%** | **TOTAL INVESTMENTS IN SECURITIES: 130.2%** |  |
| &nbsp;&nbsp;&nbsp; (Cost $185,732,935) | &nbsp;&nbsp;&nbsp; (Cost $185,732,935) | 184221281 |
| Liabilities in Excess of Other Assets: (30.2)% | Liabilities in Excess of Other Assets: (30.2)% | (42770405) |
| **TOTAL NET ASSETS: 100.0%** | **TOTAL NET ASSETS: 100.0%** | $141450876 |

---

<sup>1</sup> Non-income producing security.

<sup>2</sup> All or a portion of this security is out on loan as of November 30, 2022. Total value of securities out on loan is $43,308,220 or 30.6% of net assets.

<sup>3</sup> Annualized seven-day effective yield as of November 30, 2022.

<sup>4</sup> This security was fair valued by the Adviser.

------

---

| |
|:---|
| **Villere Balanced Fund** |
| **Summary of Fair Value Exposure at November 30, 2022 (Unaudited)** |
| The Villere Balanced Fund (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: |
| • Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.<br> • 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.<br> • 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 November 30, 2022. See Schedule of Investments for industry breakouts: |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Investments** <br> **Measured at Net** <br> **Asset Value** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Common Stocks** | $- | $100787256 | $- | $- | $100787256 |
| **Preferred Stock** | - | 2861824 | - | - | 2861824 |
| **Corporate Bonds** | - | - | 24510482 | - | 24510482 |
| **Short-Term Investments** | - | 13169013 | - | - | 13169013 |
| **Investments Purchased with Cash Proceeds from Securities Lending <sup>1</sup>** | 42892706 | - | - | - | 42892706 |
| **Total Investments in Securities** | $42892706 | $116818093 | $24510482 | $- | $184221281 |
| <sup>1</sup> Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Schedule of Investments. | <sup>1</sup> Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Schedule of Investments. | <sup>1</sup> Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Schedule of Investments. | <sup>1</sup> Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Schedule of Investments. | <sup>1</sup> Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Schedule of Investments. | <sup>1</sup> Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Schedule of Investments. |

---

## 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:** Villere Balanced Fund

- **b. EDGAR series identifier (if any):** S000004946

- **c. LEI of Series:** 2549006N5AMZJR6UT219

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

- **a. Date of fiscal year-end:** 2023-08-31

- **b. Date as of which information is reported:** 2022-11-30

**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:** $185031724.15

**Total Liabilities:** $43584683.56

**Net Assets:** $141447040.59

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000013362 | -6.81%               | 5.06%                | 4.60%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $903777.15               | $-10526035.73                              |
| Month 2  | $6976.22                 | $6472383.29                                |
| Month 3  | $463182.59               | $5635227.02                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SCOTTS MIRACLE-GRO CO                     | Scotts Miracle-Gro Co/The                 | CUSIP: 810186AS5<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |    700000 | PA      | $573132.00    | 0.41%             | 2029-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| Invesco Government & Agency Po            | Invesco Government & Agency Portfolio     | CUSIP: 825252885<br>LEI: 5493007T1J7WZ5QI1A47 | Long             | STIV             | RF                | US        |  13696988 | NS      | $13696987.52  | 9.68%             |  |  |  | No            |                  1 | On Loan: No      |
| SONOCO PRODUCTS CO                        | Sonoco Products Co                        | CUSIP: 835495AN2<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | DBT              | CORP              | US        |    950000 | PA      | $850151.14    | 0.60%             | 2027-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                               | Southern Co/The                           | CUSIP: 842587DD6<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1494648.47   | 1.06%             | 2027-08-01      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| STANLEY BLACK & DECKER I                  | Stanley Black & Decker Inc                | CUSIP: 854502AP6<br>LEI: 549300DJ09SMTO561131 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1898494.82   | 1.34%             | 2025-02-24      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Stryker Corp                              | Stryker Corp                              | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |     13450 | NS      | $3145820.50   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Teleflex Inc                              | Teleflex Inc                              | CUSIP: 879369106<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | EC               | CORP              | US        |     19885 | NS      | $4655476.20   | 3.29%             |  |  |  | No            |                  1 | On Loan: No      |
| TOYOTA MOTOR CORP                         | Toyota Motor Corp                         | CUSIP: 892331AM1<br>LEI: 5493006W3QUS5LMH6R84 | Long             | DBT              | CORP              | JP        |   2900000 | PA      | $2611056.47   | 1.85%             | 2026-03-25      | Fixed         | 1.34%                 | No            |                  2 | On Loan: No      |
| TTEC Holdings Inc                         | TTEC Holdings Inc                         | CUSIP: 89854H102<br>LEI: GTJS1N8S8I28A7L4WG97 | Long             | EC               | CORP              | US        |     21284 | NS      | $1020567.80   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| UNION PACIFIC CORP                        | Union Pacific Corp                        | CUSIP: 907818FX1<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1728481.16   | 1.22%             | 2032-02-14      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Visa Inc                                  | Visa Inc                                  | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     27585 | NS      | $5985945.00   | 4.23%             |  |  |  | No            |                  1 | On Loan: —       |
| VISA INC                                  | Visa Inc                                  | CUSIP: 92826CAP7<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | DBT              | CORP              | US        |    321000 | PA      | $274778.00    | 0.19%             | 2027-08-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Mount Vernon Liquid Assets Portfolio, LLC | Mount Vernon Liquid Assets Portfolio, LLC | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |  42892706 | NS      | $42892706.25  | 30.32%            |  |  |  | No            |                  1 | On Loan: No      |
| STERIS PLC                                | STERIS PLC                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     34025 | NS      | $6319803.50   | 4.47%             |  |  |  | No            |                  1 | On Loan: No      |
| On Holding AG                             | On Holding AG                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CH        |    151606 | NS      | $2944188.52   | 2.08%             |  |  |  | No            |                  1 | On Loan: —       |
| ALPHABET INC                              | Alphabet Inc                              | CUSIP: 02079KAJ6<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $867260.47    | 0.61%             | 2027-08-15      | Fixed         | 0.80%                 | No            |                  2 | On Loan: No      |
| AMAZON.COM INC                            | Amazon.com Inc                            | CUSIP: 023135BY1<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1302507.48   | 0.92%             | 2028-05-12      | Fixed         | 1.65%                 | No            |                  2 | On Loan: —       |
| AVNET INC                                 | Avnet Inc                                 | CUSIP: 053807AU7<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $776640.66    | 0.55%             | 2031-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| B RILEY FINANCIAL INC                     | B Riley Financial Inc                     | CUSIP: 05580M702<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     47800 | NS      | $1189264.00   | 0.84%             |  |  |  | No            |                  1 | On Loan: —       |
| B RILEY FINANCIAL INC                     | B Riley Financial Inc                     | CUSIP: 05580M801<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     72000 | NS      | $1672560.00   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| BRUNSWICK CORP                            | Brunswick Corp/DE                         | CUSIP: 117043AU3<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | DBT              | CORP              | US        |    960000 | PA      | $804276.67    | 0.57%             | 2032-09-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment Inc                 | Caesars Entertainment Inc                 | CUSIP: 12769G100<br>LEI: 549300FA4CTCW903Y781 | Long             | EC               | CORP              | US        |     61649 | NS      | $3132385.69   | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co                      | Colgate-Palmolive Co                      | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |     24070 | NS      | $1864943.60   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| DUKE ENERGY CORP                          | Duke Energy Corp                          | CUSIP: 26441CBJ3<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $901987.40    | 0.64%             | 2025-09-15      | Fixed         | 0.90%                 | No            |                  2 | On Loan: No      |
| Ebix Inc                                  | Ebix Inc                                  | CUSIP: 278715206<br>LEI: 549300DHXVZR5SW5QR44 | Long             | EC               | CORP              | US        |    148779 | NS      | $2825313.21   | 2.00%             |  |  |  | No            |                  1 | On Loan: —       |
| EMERSON ELECTRIC CO                       | Emerson Electric Co                       | CUSIP: 291011BP8<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | DBT              | CORP              | US        |    950000 | PA      | $827738.53    | 0.59%             | 2026-10-15      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| Euronet Worldwide Inc                     | Euronet Worldwide Inc                     | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |     48230 | NS      | $4482978.50   | 3.17%             |  |  |  | No            |                  1 | On Loan: —       |
| First Hawaiian Inc                        | First Hawaiian Inc                        | CUSIP: 32051X108<br>LEI: 5493002DJSH46F5OLV06 | Long             | EC               | CORP              | US        |     67237 | NS      | $1785142.35   | 1.26%             |  |  |  | No            |                  1 | On Loan: —       |
| Freeport-McMoRan Inc                      | Freeport-McMoRan Inc                      | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |    206925 | NS      | $8235615.00   | 5.82%             |  |  |  | No            |                  1 | On Loan: —       |
| H.B. FULLER CO                            | HB Fuller Co                              | CUSIP: 359694AB2<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | DBT              | CORP              | US        |   2418000 | PA      | $2238451.41   | 1.58%             | 2027-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HONDA MOTOR CO LTD                        | Honda Motor Co Ltd                        | CUSIP: 438127AB8<br>LEI: 549300P7ZYCQJ36CCS16 | Long             | DBT              | CORP              | JP        |   1200000 | PA      | $1101469.56   | 0.78%             | 2027-03-10      | Fixed         | 2.53%                 | No            |                  2 | On Loan: —       |
| HUBBELL INC                               | Hubbell Inc                               | CUSIP: 443510AJ1<br>LEI: 54930088VDQ6840Y6597 | Long             | DBT              | CORP              | US        |   1045000 | PA      | $969993.52    | 0.69%             | 2028-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| JB Hunt Transport Services Inc            | JB Hunt Transport Services Inc            | CUSIP: 445658107<br>LEI: 549300XCD1MPI1C5GK90 | Long             | EC               | CORP              | US        |     29510 | NS      | $5426593.90   | 3.84%             |  |  |  | No            |                  1 | On Loan: —       |
| IDEXX Laboratories Inc                    | IDEXX Laboratories Inc                    | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |      8450 | NS      | $3598601.50   | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| IFF                                       | International Flavors & Fragrances Inc    | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | EC               | CORP              | US        |     18295 | NS      | $1935976.90   | 1.37%             |  |  |  | No            |                  1 | On Loan: —       |
| Kearny Financial Corp/MD                  | Kearny Financial Corp/MD                  | CUSIP: 48716P108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    466413 | NS      | $4510213.71   | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| KIMBERLY-CLARK CORP                       | Kimberly-Clark Corp                       | CUSIP: 494368BZ5<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | DBT              | CORP              | US        |    100000 | PA      | $91515.78     | 0.06%             | 2029-04-25      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Ligand Pharmaceuticals Inc                | Ligand Pharmaceuticals Inc                | CUSIP: 53220K504<br>LEI: 5493008K7TB0IKP37H79 | Long             | EC               | CORP              | US        |     55338 | NS      | $4034140.20   | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Monster Beverage Corp                     | Monster Beverage Corp                     | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |     34695 | NS      | $3568727.70   | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                    | NextEra Energy Capital Holdings Inc       | CUSIP: 65339KCD0<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1942699.56   | 1.37%             | 2024-03-21      | Fixed         | 2.94%                 | No            |                  2 | On Loan: —       |
| ON Semiconductor Corp                     | ON Semiconductor Corp                     | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |     43710 | NS      | $3286992.00   | 2.32%             |  |  |  | No            |                  1 | On Loan: —       |
| OmniAb Inc                                | OmniAb Inc                                | CUSIP: 68218J103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    271160 | NS      | $959906.40    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Omniab Inc/old                            | Omniab Inc/old                            | CUSIP: 68218J202<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20985 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Omniab Inc/old                            | Omniab Inc/old                            | CUSIP: 68218J301<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20985 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Open Lending Corp                         | Open Lending Corp                         | CUSIP: 68373J104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    278282 | NS      | $1967453.74   | 1.39%             |  |  |  | No            |                  1 | On Loan: —       |
| PACIFIC GAS & ELECTRIC                    | Pacific Gas and Electric Co               | CUSIP: 694308KB2<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    600000 | PA      | $537936.18    | 0.38%             | 2029-03-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Palomar Holdings Inc                      | Palomar Holdings Inc                      | CUSIP: 69753M105<br>LEI: 549300DOI1MUW11BLX74 | Long             | EC               | CORP              | US        |     92739 | NS      | $5818444.86   | 4.11%             |  |  |  | No            |                  1 | On Loan: —       |
| Paya Holdings Inc                         | Paya Holdings Inc                         | CUSIP: 70434P103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    470133 | NS      | $4376938.23   | 3.09%             |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo Inc                               | PepsiCo Inc                               | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      9000 | NS      | $1669590.00   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Pool Corp                                 | Pool Corp                                 | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Long             | EC               | CORP              | US        |     14312 | NS      | $4714515.92   | 3.33%             |  |  |  | No            |                  1 | On Loan: —       |
| Porch Group Inc                           | Porch Group Inc                           | CUSIP: 733245104<br>LEI: 549300NXEI7CVW8IXQ90 | Long             | EC               | CORP              | US        |    656150 | NS      | $1338546.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: —       |
| PUBLIC SERVICE ENTERPRIS                  | Public Service Enterprise Group Inc       | CUSIP: 744573AV8<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1543325.09   | 1.09%             | 2027-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: —       |
| REINSURANCE GRP OF AMER                   | Reinsurance Group of America Inc          | CUSIP: 759351AN9<br>LEI: LORM1GNEU1DKEW527V90 | Long             | DBT              | CORP              | US        |    800000 | PA      | $732682.82    | 0.52%             | 2029-05-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| RELIANCE STEEL & ALUM                     | Reliance Steel & Aluminum Co              | CUSIP: 759509AF9<br>LEI: 549300E287ZOFT3C5Z56 | Long             | DBT              | CORP              | US        |    490000 | PA      | $441254.41    | 0.31%             | 2025-08-15      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| Roper Technologies Inc                    | Roper Technologies Inc                    | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |     16365 | NS      | $7182434.85   | 5.08%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-23

**Name of Applicant:** Professionally Managed Portfolios

**Signature:** /s/ Melissa Breitzman

**Name of Signer:** Melissa Breitzman

**Title:** Assistant Treasurer