We show that gauge invariant composites in the fermionic realization of SU(N)1 conformal field theory explicitly exhibit the holomorphic factorization of the corresponding WZW primaries. In the SU(2)1 case we show that the holomorphic sector realizes the spinon Y(sl2) algebra, thus allowing the classification of the chiral Fock space in terms of semionic quasiparticle excitations created by the composite fermions.