Schedule of Portfolio Investments
Praxis Impact Bond Fund
September 30, 2021 (Unaudited)
MUNICIPAL BONDS - 1.1% | Coupon | Maturity | Principal Amount | Fair Value | |||||||||
American Municipal Power Ohio, Inc., Rev. Taxable-Hydroelectric Projects, Series 2010-A | 7.334 | % | 02/15/28 | $ | 1,000,000 | $ | 1,262,317 | ||||||
City of San Francisco, California, Public Utilities Comm. Water Rev., Series 2019-A | 3.303 | % | 11/01/39 | 2,500,000 | 2,671,919 | ||||||||
Findlay City School District, Series 2010-B | 6.250 | % | 12/01/37 | 270,000 | 270,988 | ||||||||
Houston, Texas, Independent School District, Series 2009A-2 | 6.168 | % | 02/15/34 | 1,000,000 | 1,003,470 | ||||||||
Massachusetts St., Series 2016-F | 3.277 | % | 06/01/46 | 3,100,000 | 3,411,023 | ||||||||
New Jersey St. Housing & Mortgage Finance, Series 2013-C | 2.600 | % | 07/01/23 | 115,000 | 116,750 | ||||||||
Osceola County Housing Finance Authority Rev., Series 2013-B | 3.350 | % | 07/01/23 | 85,000 | 88,709 | ||||||||
TOTAL MUNICIPAL BONDS (COST $8,450,539) | $ | 8,825,176 |
CORPORATE BONDS - 36.5% | Coupon | Maturity | Principal Amount | Fair Value | |||||||||
APPAREL & TEXTILE PRODUCTS - 0.1% | |||||||||||||
Hanesbrands, Inc. (a)(b) | 4.625 | % | 05/15/24 | $ | 500,000 | $ | 527,140 | ||||||
VF Corp. | 2.400 | % | 04/23/25 | 536,000 | 558,537 | ||||||||
1,085,677 | |||||||||||||
ASSET MANAGEMENT - 0.1% | |||||||||||||
Ameriprise Financial, Inc. | 3.000 | % | 04/02/25 | 730,000 | 775,480 | ||||||||
AUTOMOTIVE - 0.6% | |||||||||||||
BMW US Capital, LLC (b) | 3.800 | % | 04/06/23 | 1,000,000 | 1,048,943 | ||||||||
BorgWarner, Inc. (a) | 2.650 | % | 07/01/27 | 601,000 | 633,430 | ||||||||
Hyundai Capital Services, Inc. (b) | 1.250 | % | 02/08/26 | 200,000 | 196,921 | ||||||||
Magna International, Inc. | 2.450 | % | 06/15/30 | 1,250,000 | 1,269,430 | ||||||||
Toyota Motor Credit Corp., Series B | 2.900 | % | 03/30/23 | 1,735,000 | 1,801,396 | ||||||||
4,950,120 | |||||||||||||
BANKING - 4.4% | |||||||||||||
Bank of America Corp. | 3.300 | % | 01/11/23 | 500,000 | 518,889 | ||||||||
Bank of America Corp. | 3.335 | % | 01/25/23 | 1,000,000 | 1,009,548 | ||||||||
Bank of America Corp. | 4.100 | % | 07/24/23 | 1,000,000 | 1,066,107 |
Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
CORPORATE BONDS - 36.5% (Continued) |
| Coupon |
|
| Maturity |
| Principal Amount |
|
| Fair Value |
| ||
BANKING - 4.4% (Continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America Corp. (a) |
| 0.981 | % |
| 09/25/25 |
| $ | 1,500,000 |
|
| $ | 1,502,070 |
|
Bank of America Corp. |
| 2.456 | % |
| 10/22/25 |
|
| 1,000,000 |
|
|
| 1,044,530 |
|
Bank of America Corp. |
| 4.271 | % |
| 07/23/29 |
|
| 1,000,000 |
|
|
| 1,133,962 |
|
Bank of Montreal |
| 3.300 | % |
| 02/05/24 |
|
| 1,000,000 |
|
|
| 1,063,374 |
|
Citigroup, Inc. |
| 3.875 | % |
| 10/25/23 |
|
| 1,000,000 |
|
|
| 1,069,742 |
|
Citigroup, Inc. |
| 1.678 | % |
| 05/15/24 |
|
| 1,250,000 |
|
|
| 1,274,315 |
|
Citigroup, Inc. |
| 3.700 | % |
| 01/12/26 |
|
| 1,750,000 |
|
|
| 1,922,295 |
|
Citigroup, Inc. (a) |
| 2.572 | % |
| 06/03/30 |
|
| 1,000,000 |
|
|
| 1,019,304 |
|
ING Groep N.V. (b) |
| 4.625 | % |
| 01/06/26 |
|
| 1,250,000 |
|
|
| 1,418,605 |
|
JPMorgan Chase & Co. |
| 0.653 | % |
| 09/16/24 |
|
| 1,000,000 |
|
|
| 1,002,497 |
|
JPMorgan Chase & Co. |
| 0.563 | % |
| 02/16/25 |
|
| 500,000 |
|
|
| 497,924 |
|
JPMorgan Chase & Co. |
| 3.200 | % |
| 06/15/26 |
|
| 2,557,000 |
|
|
| 2,762,133 |
|
JPMorgan Chase & Co. |
| 2.739 | % |
| 10/15/30 |
|
| 2,000,000 |
|
|
| 2,071,243 |
|
Key Bank, N.A. (a) |
| 1.250 | % |
| 03/10/23 |
|
| 1,750,000 |
|
|
| 1,773,327 |
|
Mitsubishi UFJ Financial Group |
| 2.527 | % |
| 09/13/23 |
|
| 1,250,000 |
|
|
| 1,299,803 |
|
National Australia Bank, New York Branch |
| 3.625 | % |
| 06/20/23 |
|
| 1,750,000 |
|
|
| 1,846,233 |
|
National Bank of Canada (b) |
| 2.150 | % |
| 10/07/22 |
|
| 1,250,000 |
|
|
| 1,273,785 |
|
PNC Bank N.A. |
| 3.500 | % |
| 06/08/23 |
|
| 1,285,000 |
|
|
| 1,349,686 |
|
Regions Financial Corp. |
| 2.250 | % |
| 05/18/25 |
|
| 1,000,000 |
|
|
| 1,039,252 |
|
Sumitomo Mitsui Financial Group, Inc. (a) |
| 0.508 | % |
| 01/12/24 |
|
| 2,000,000 |
|
|
| 1,993,527 |
|
Toronto-Dominion Bank (SOFR + 45) (c) |
| 0.463 | % |
| 09/28/23 |
|
| 2,000,000 |
|
|
| 2,011,234 |
|
Truist Financial Corp. |
| 1.250 | % |
| 03/09/23 |
|
| 1,750,000 |
|
|
| 1,772,914 |
|
|
|
|
|
|
|
|
|
|
|
|
| 34,736,299 |
|
BEVERAGES - 0.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Coca-Cola Co. (The) |
| 3.450 | % |
| 03/25/30 |
|
| 500,000 |
|
|
| 559,389 |
|
Coca-Cola Femsa S.A.B. de C.V. |
| 1.850 | % |
| 09/01/32 |
|
| 1,000,000 |
|
|
| 946,270 |
|
PepsiCo, Inc. (a) |
| 2.250 | % |
| 03/19/25 |
|
| 2,000,000 |
|
|
| 2,086,829 |
|
|
|
|
|
|
|
|
|
|
|
|
| 3,592,488 |
|
BIOTECH & PHARMA - 0.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
AbbVie, Inc. |
| 2.950 | % |
| 11/21/26 |
|
| 500,000 |
|
|
| 535,573 |
|
Gilead Sciences, Inc. |
| 3.650 | % |
| 03/01/26 |
|
| 750,000 |
|
|
| 821,998 |
|
Zeneca Wilmington, Inc. |
| 7.000 | % |
| 11/15/23 |
|
| 1,100,000 |
|
|
| 1,248,998 |
|
Zoetis, Inc. |
| 3.250 | % |
| 02/01/23 |
|
| 1,200,000 |
|
|
| 1,236,655 |
|
|
|
|
|
|
|
|
|
|
|
|
| 3,843,224 |
|
Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
CORPORATE BONDS - 36.5% (Continued) |
| Coupon |
|
| Maturity |
| Principal Amount |
|
| Fair Value |
| ||
CABLE & SATELLITE - 0.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Comcast Corp. (a) |
| 3.300 | % |
| 04/01/27 |
| $ | 500,000 |
|
| $ | 547,497 |
|
Comcast Corp. (a)(b) |
| 2.937 | % |
| 11/01/56 |
|
| 672,000 |
|
|
| 634,762 |
|
Time Warner Cable, Inc. |
| 4.500 | % |
| 09/15/42 |
|
| 500,000 |
|
|
| 547,171 |
|
|
|
|
|
|
|
|
|
|
|
|
| 1,729,430 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CHEMICALS - 1.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Avery Dennison Corp. |
| 2.650 | % |
| 04/30/30 |
|
| 1,250,000 |
|
|
| 1,279,983 |
|
DowDuPont, Inc. (a) |
| 4.493 | % |
| 11/15/25 |
|
| 1,500,000 |
|
|
| 1,686,623 |
|
Ecolab, Inc. |
| 4.800 | % |
| 03/24/30 |
|
| 140,000 |
|
|
| 170,059 |
|
Ecolab, Inc. (a) |
| 2.750 | % |
| 08/18/55 |
|
| 1,470,000 |
|
|
| 1,412,437 |
|
LG Chemical Ltd. (b) |
| 3.250 | % |
| 10/15/24 |
|
| 290,000 |
|
|
| 309,609 |
|
Nutrien Ltd. |
| 1.900 | % |
| 05/13/23 |
|
| 800,000 |
|
|
| 817,213 |
|
Nutrien Ltd. |
| 5.875 | % |
| 12/01/36 |
|
| 840,000 |
|
|
| 1,133,380 |
|
Solvay Finance S.A. (b) |
| 4.450 | % |
| 12/03/25 |
|
| 1,250,000 |
|
|
| 1,386,969 |
|
|
|
|
|
|
|
|
|
|
|
|
| 8,196,273 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSTRUCTION MATERIALS - 0.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Carlisle Cos., Inc. |
| 3.500 | % |
| 12/01/24 |
|
| 1,250,000 |
|
|
| 1,337,987 |
|
Owens Corning |
| 4.200 | % |
| 12/01/24 |
|
| 1,000,000 |
|
|
| 1,090,459 |
|
Owens Corning (a) |
| 3.950 | % |
| 08/15/29 |
|
| 300,000 |
|
|
| 334,717 |
|
|
|
|
|
|
|
|
|
|
|
|
| 2,763,163 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSUMER SERVICES - 2.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Andrew W. Mellon Funding |
| 0.947 | % |
| 08/01/27 |
|
| 1,050,000 |
|
|
| 1,031,955 |
|
California Endowment |
| 2.498 | % |
| 04/01/51 |
|
| 3,500,000 |
|
|
| 3,369,340 |
|
Conservation Fund, Series 2019 |
| 3.474 | % |
| 12/15/29 |
|
| 535,000 |
|
|
| 567,453 |
|
Ford Foundation (The), Series 2017 |
| 3.859 | % |
| 06/01/47 |
|
| 2,485,000 |
|
|
| 2,975,408 |
|
John D. & Catherine T. MacArthur Foundation, Series 2020 |
| 1.299 | % |
| 12/01/30 |
|
| 1,500,000 |
|
|
| 1,410,625 |
|
Local Initiatives Support Corp. |
| 4.649 | % |
| 03/01/37 |
|
| 1,500,000 |
|
|
| 1,720,440 |
|
Massachusetts Institute of Technology |
| 3.959 | % |
| 07/01/38 |
|
| 1,500,000 |
|
|
| 1,779,604 |
|
President & Fellows of Harvard College |
| 3.150 | % |
| 07/15/46 |
|
| 3,961,000 |
|
|
| 4,391,640 |
|
University of Notre Dame, Series 2017 |
| 3.394 | % |
| 02/15/48 |
|
| 2,000,000 |
|
|
| 2,288,341 |
|
Yale University |
| 2.402 | % |
| 04/15/50 |
|
| 2,415,000 |
|
|
| 2,326,166 |
|
|
|
|
|
|
|
|
|
|
|
|
| 21,860,972 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONTAINERS & PACKAGING - 0.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
CCL Industries, Inc. (b) |
| 3.050 | % |
| 06/01/30 |
|
| 1,750,000 |
|
|
| 1,833,349 |
|
Sonoco Products Co. |
| 5.750 | % |
| 11/01/40 |
|
| 1,000,000 |
|
|
| 1,350,639 |
|
|
|
|
|
|
|
|
|
|
|
|
| 3,183,988 |
|
Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
CORPORATE BONDS - 36.5% (Continued) |
| Coupon |
|
| Maturity |
| Principal Amount |
|
| Fair Value |
| ||
DIVERSIFIED INDUSTRIALS - 0.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Illinois Tool Works, Inc. |
| 3.900 | % |
| 09/01/42 |
| $ | 1,000,000 |
|
| $ | 1,163,785 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ELECTRIC UTILITIES - 5.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Avangrid, Inc. |
| 3.150 | % |
| 12/01/24 |
|
| 1,800,000 |
|
|
| 1,918,628 |
|
Caledonia Generating, LLC (b) |
| 1.950 | % |
| 02/28/34 |
|
| 1,958,264 |
|
|
| 1,939,797 |
|
Consolidated Edison Co. |
| 3.350 | % |
| 04/01/30 |
|
| 1,000,000 |
|
|
| 1,094,240 |
|
DTE Electric Co. |
| 4.050 | % |
| 05/15/48 |
|
| 1,750,000 |
|
|
| 2,080,897 |
|
Duke Energy, LLC |
| 3.450 | % |
| 03/15/29 |
|
| 1,750,000 |
|
|
| 1,934,684 |
|
Electricite de France S.A. (b) |
| 3.625 | % |
| 10/13/25 |
|
| 1,250,000 |
|
|
| 1,358,828 |
|
Enel Finance International N.V. (b) |
| 2.650 | % |
| 09/10/24 |
|
| 1,250,000 |
|
|
| 1,309,765 |
|
Florida Power & Light Co. (a) |
| 3.700 | % |
| 12/01/47 |
|
| 1,300,000 |
|
|
| 1,500,643 |
|
Georgia Power Co. |
| 3.250 | % |
| 04/01/26 |
|
| 1,000,000 |
|
|
| 1,071,882 |
|
Interstate Power & Light Co. |
| 3.600 | % |
| 04/01/29 |
|
| 1,250,000 |
|
|
| 1,378,468 |
|
Liberty Utilities Financial Services (b) |
| 2.050 | % |
| 09/15/30 |
|
| 355,000 |
|
|
| 343,476 |
|
MidAmerican Energy Co. |
| 3.950 | % |
| 08/01/47 |
|
| 1,750,000 |
|
|
| 2,045,307 |
|
Midland Cogeneration Venture, L.P. (b) |
| 6.000 | % |
| 03/15/25 |
|
| 264,477 |
|
|
| 275,075 |
|
Narragansett Electric Co. (b) |
| 3.395 | % |
| 04/09/30 |
|
| 1,500,000 |
|
|
| 1,622,996 |
|
National Rural Utilities |
| 1.350 | % |
| 03/15/31 |
|
| 1,000,000 |
|
|
| 928,310 |
|
NextEra Energy Capital Holdings, Inc. |
| 0.650 | % |
| 03/01/23 |
|
| 400,000 |
|
|
| 401,352 |
|
Niagara Mohawk Power Corp. (b) |
| 1.960 | % |
| 06/27/30 |
|
| 1,500,000 |
|
|
| 1,456,747 |
|
Northern States Power Co. |
| 2.900 | % |
| 03/01/50 |
|
| 1,250,000 |
|
|
| 1,255,601 |
|
NSTAR Electric Co. |
| 3.950 | % |
| 04/01/30 |
|
| 600,000 |
|
|
| 685,156 |
|
NSTAR Electric Co. |
| 5.500 | % |
| 03/15/40 |
|
| 1,250,000 |
|
|
| 1,711,017 |
|
Pacificorp |
| 8.080 |