CONGRESS ASSET MANAGEMENT CO

The portfolio remains highly diversified, comprising 381 total holdings. However, the firm executed a high level of churn this quarter. The filing data reveals a dynamic restructuring: 27 new positions were established, 27 positions were completely sold off, and 15 existing positions were reduced, with only 8 seeing increases. This level of activity indicates a tactical reallocation of assets, moving away from specific sub-sectors (particularly in software and smaller-cap tech) to establish a core position in large-cap growth leaders.

2. Key Holdings

The composition of the top 50 holdings reflects a "Barbell" strategy, balancing mega-cap technology stalwarts with high-conviction mid-cap growth and industrial names.