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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <fairValLevel>1</fairValLevel>
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        <name>Factset Research</name>
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        <title>FactSet Research Systems, Inc. </title>
        <cusip>303075105</cusip>
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          <isin value="US3030751057"/>
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        <balance>5100.00000000</balance>
        <units>NS</units>
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        <valUSD>1787040.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Varian Medical Sys</name>
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          <isin value="US92220P1057"/>
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        <valUSD>1267791.00000000</valUSD>
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      </invstOrSec>
      <invstOrSec>
        <name>Spdr Series Trust</name>
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        <title>SPDR S&amp;P Biotech ETF </title>
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        <identifiers>
          <isin value="US78464A8707"/>
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        <balance>13300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1487073.00000000</valUSD>
        <pctVal>3.605487212133</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Ametek, Inc.</name>
        <lei>549300WZDEF9KKE40E98</lei>
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          <isin value="US0311001004"/>
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        <balance>20100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2024070.00000000</valUSD>
        <pctVal>4.907464866528</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Scotts Miracle-Gro Company</name>
        <lei>2TH9E0JTOUXOEGI2R879</lei>
        <title>Scotts Miracle-Gro Company (The) </title>
        <cusip>810186106</cusip>
        <identifiers>
          <isin value="US8101861065"/>
        </identifiers>
        <balance>7600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1280828.00000000</valUSD>
        <pctVal>3.105435291302</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-09-28</ncom:dateSigned>
      <ncom:nameOfApplicant>Papp Small &amp; Mid-Cap Growth Fund</ncom:nameOfApplicant>
      <ncom:signature>Daniel Bauer</ncom:signature>
      <ncom:signerName>Daniel Bauer</ncom:signerName>
      <ncom:title>AVP, Fund Accounting</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
