Schedule of Portfolio Investments
Praxis Impact Bond Fund
September 30, 2022 (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 | $ | 1,080,299 | |||||||||
City of San Francisco, California, Public Utilities Comm. Water Rev., Series 2019-A | 3.303 | % | 11/01/39 | 2,500,000 | 2,024,300 | |||||||||||
Findlay City School District, Series 2010-B | 6.250 | % | 12/01/37 | 270,000 | 270,383 | |||||||||||
Houston, Texas, Independent School District, Series 2009A-2 | 6.168 | % | 02/15/34 | 1,000,000 | 1,031,370 | |||||||||||
Massachusetts St., Series 2016-F | 3.277 | % | 06/01/46 | 3,100,000 | 2,439,855 | |||||||||||
New Jersey St. Housing & Mortgage Finance, Series 2013-C | 2.600 | % | 07/01/23 | 55,000 | 54,600 | |||||||||||
Osceola County Housing Finance Authority Rev., Series 2013-B | 3.350 | % | 07/01/23 | 45,000 | 44,859 | |||||||||||
TOTAL MUNICIPAL BONDS (COST $8,313,576) | $ | 6,945,666 | ||||||||||||||
CORPORATE BONDS - 40.2% | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
APPAREL & TEXTILE PRODUCTS - 0.2% | ||||||||||||||||
Hanesbrands, Inc. (a) | 4.625 | % | 05/15/24 | $ | 500,000 | $ | 476,750 | |||||||||
VF Corp. | 2.400 | % | 04/23/25 | 536,000 | 500,803 | |||||||||||
977,553 | ||||||||||||||||
ASSET MANAGEMENT - 0.1% | ||||||||||||||||
Ameriprise Financial, Inc. | 3.000 | % | 04/02/25 | 730,000 | 697,041 | |||||||||||
AUTOMOTIVE - 0.5% | ||||||||||||||||
BMW US Capital, LLC (a) | 3.800 | % | 04/06/23 | 1,000,000 | 995,830 | |||||||||||
BorgWarner, Inc. | 2.650 | % | 07/01/27 | 601,000 | 523,724 | |||||||||||
Honda Motor Co. Ltd. (b) | 2.967 | % | 03/10/32 | 760,000 | 637,366 | |||||||||||
Hyundai Capital Services, Inc. (a) | 1.250 | % | 02/08/26 | 200,000 | 173,839 | |||||||||||
Magna International, Inc. | 2.450 | % | 06/15/30 | 1,250,000 | 1,012,219 | |||||||||||
3,342,978 | ||||||||||||||||
BANKING - 4.6% | ||||||||||||||||
Bank of America Corp. | 0.981 | % | 09/25/25 | 1,500,000 | 1,364,750 | |||||||||||
Bank of America Corp. | 2.456 | % | 10/22/25 | 1,000,000 | 936,284 | |||||||||||
Bank of America Corp. | 1.530 | % | 12/06/25 | 2,000,000 | 1,829,409 |
Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
CORPORATE BONDS - 40.2% (Continued) | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
BANKING - 4.6% (Continued) | ||||||||||||||||
Bank of America Corp. | 4.271 | % | 07/23/29 | $ | 1,000,000 | $ | 911,795 | |||||||||
Bank of America Corp. | 2.572 | % | 10/20/32 | 1,500,000 | 1,147,242 | |||||||||||
Bank of Montreal | 3.300 | % | 02/05/24 | 1,000,000 | 977,878 | |||||||||||
Citigroup, Inc. | 1.678 | % | 05/15/24 | 1,250,000 | 1,223,180 | |||||||||||
Citigroup, Inc. | 3.700 | % | 01/12/26 | 1,750,000 | 1,658,176 | |||||||||||
Citigroup, Inc. | 2.014 | % | 01/25/26 | 1,000,000 | 918,936 | |||||||||||
Citigroup, Inc. | 2.572 | % | 06/03/30 | 1,000,000 | 786,518 | |||||||||||
ING Groep N.V. (a) | 4.625 | % | 01/06/26 | 1,250,000 | 1,202,238 | |||||||||||
JPMorgan Chase & Co. | 0.653 | % | 09/16/24 | 1,000,000 | 953,708 | |||||||||||
JPMorgan Chase & Co. | 0.563 | % | 02/16/25 | 500,000 | 467,495 | |||||||||||
JPMorgan Chase & Co. (b) | 3.200 | % | 06/15/26 | 2,557,000 | 2,373,812 | |||||||||||
JPMorgan Chase & Co. | 2.739 | % | 10/15/30 | 2,000,000 | 1,626,180 | |||||||||||
Key Bank, N.A. | 1.250 | % | 03/10/23 | 1,750,000 | 1,726,113 | |||||||||||
Mitsubishi UFJ Financial Group | 2.527 | % | 09/13/23 | 1,250,000 | 1,219,037 | |||||||||||
National Australia Bank, New York Branch | 3.625 | % | 06/20/23 | 1,750,000 | 1,740,095 | |||||||||||
National Bank of Canada (a) | 2.150 | % | 10/07/22 | 1,250,000 | 1,249,811 | |||||||||||
Regions Financial Corp. | 2.250 | % | 05/18/25 | 1,000,000 | 926,164 | |||||||||||
State Street Corp. (c) | 4.164 | % | 08/04/33 | 195,000 | 175,944 | |||||||||||
Sumitomo Mitsui Financial Group, Inc. | 0.508 | % | 01/12/24 | 2,000,000 | 1,884,043 | |||||||||||
Toronto-Dominion Bank (SOFR + 45) (c) | 0.500 | % | 09/28/23 | 2,000,000 | 1,995,117 | |||||||||||
29,293,925 | ||||||||||||||||
BEVERAGES - 0.2% | ||||||||||||||||
Coca-Cola Co. (The) | 3.450 | % | 03/25/30 | 500,000 | 454,502 | |||||||||||
Coca-Cola Femsa S.A.B. de C.V. | 1.850 | % | 09/01/32 | 1,000,000 | 736,180 | |||||||||||
1,190,682 | ||||||||||||||||
BIOTECH & PHARMA - 0.9% | ||||||||||||||||
AbbVie, Inc. (b) | 2.950 | % | 11/21/26 | 500,000 | 458,079 | |||||||||||
Amgen, Inc. | 3.000 | % | 02/22/29 | 2,500,000 | 2,186,257 | |||||||||||
Gilead Sciences, Inc. | 3.650 | % | 03/01/26 | 750,000 | 712,895 | |||||||||||
Zeneca Wilmington, Inc. | 7.000 | % | 11/15/23 | 1,100,000 | 1,126,793 | |||||||||||
Zoetis, Inc. | 3.250 | % | 02/01/23 | 1,200,000 | 1,193,584 | |||||||||||
5,677,608 | ||||||||||||||||
CABLE & SATELLITE - 0.2% | ||||||||||||||||
Comcast Corp. | 3.300 | % | 04/01/27 | 500,000 | 463,784 | |||||||||||
Comcast Corp. | 2.937 | % | 11/01/56 | 672,000 | 401,100 |
Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
CORPORATE BONDS - 40.2% (Continued) | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
CABLE & SATELLITE - 0.2% (Continued) | ||||||||||||||||
Time Warner Cable, Inc. | 4.500 | % | 09/15/42 | $ | 500,000 | $ | 345,203 | |||||||||
1,210,087 | ||||||||||||||||
CHEMICALS - 1.0% | ||||||||||||||||
Avery Dennison Corp. | 2.650 | % | 04/30/30 | 1,250,000 | 999,172 | |||||||||||
DowDuPont, Inc. | 4.493 | % | 11/15/25 | 1,500,000 | 1,473,387 | |||||||||||
Ecolab, Inc. | 4.800 | % | 03/24/30 | 140,000 | 137,067 | |||||||||||
Ecolab, Inc. | 2.750 | % | 08/18/55 | 1,470,000 | 909,158 | |||||||||||
LG Chemical Ltd. (a) | 3.250 | % | 10/15/24 | 290,000 | 279,041 | |||||||||||
Nutrien Ltd. | 1.900 | % | 05/13/23 | 800,000 | 785,341 | |||||||||||
Nutrien Ltd. | 5.875 | % | 12/01/36 | 840,000 | 851,272 | |||||||||||
Solvay Finance S.A. (a) | 4.450 | % | 12/03/25 | 1,250,000 | 1,194,730 | |||||||||||
6,629,168 | ||||||||||||||||
CONSTRUCTION MATERIALS - 0.4% | ||||||||||||||||
Carlisle Cos., Inc. | 3.500 | % | 12/01/24 | 1,250,000 | 1,203,128 | |||||||||||
Owens Corning | 4.200 | % | 12/01/24 | 1,000,000 | 981,260 | |||||||||||
Owens Corning | 3.950 | % | 08/15/29 | 300,000 | 268,493 | |||||||||||
2,452,881 | ||||||||||||||||
CONSUMER SERVICES - 4.7% | ||||||||||||||||
Andrew W. Mellon Funding | 0.947 | % | 08/01/27 | 1,050,000 | 896,473 | |||||||||||
California Endowment (The) | 2.498 | % | 04/01/51 | 4,500,000 | 2,853,271 | |||||||||||
Conservation Fund, Series 2019 | 3.474 | % | 12/15/29 | 535,000 | 464,490 | |||||||||||
Ford Foundation (The), Series 2017 | 3.859 | % | 06/01/47 | 2,485,000 | 2,049,010 | |||||||||||
John D. & Catherine T. MacArthur Foundation, Series 2020 | 1.299 | % | 12/01/30 | 1,500,000 | 1,157,636 | |||||||||||
Leland Stanford Junior University (The) | 3.460 | % | 05/01/47 | 1,415,000 | 1,103,656 | |||||||||||
Local Initiatives Support Corp. | 4.649 | % | 03/01/37 | 1,500,000 | 1,406,003 | |||||||||||
Massachusetts Institute of Technology | 3.959 | % | 07/01/38 | 1,500,000 | 1,346,059 | |||||||||||
Massachusetts Institute of Technology, Series H | 3.067 | % | 04/01/52 | 4,000,000 | 2,895,265 | |||||||||||
President & Fellows of Harvard College, Series 2016-B | 3.150 | % | 07/15/46 | 3,961,000 | 3,032,363 | |||||||||||
President & Fellows of Harvard College, Series 2020-B | 2.517 | % | 10/15/50 | 1,300,000 | 835,398 | |||||||||||
President & Fellows of Harvard College, Series 2022-A | 3.745 | % | 11/15/52 | 500,000 | 416,289 | |||||||||||
Rockefeller Foundation (The) | 2.492 | % | 10/01/50 | 1,800,000 | 1,125,613 |
Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
CORPORATE BONDS - 40.2% (Continued) | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
CONSUMER SERVICES - 4.7% (Continued) | ||||||||||||||||
Stanford University California, Series 2020-A | 2.413 | % | 06/01/50 | $ | 3,450,000 | $ | 2,192,611 | |||||||||
Trustees of Princeton University (The) | 2.516 | % | 07/01/50 | 5,150,000 | 3,486,257 | |||||||||||
University of Notre Dame, Series 2017 | 3.394 | % | 02/15/48 | 2,424,000 | 1,879,158 | |||||||||||
Yale University | 2.402 | % | 04/15/50 | 4,165,000 | 2,696,022 | |||||||||||
29,835,574 | ||||||||||||||||
CONTAINERS & PACKAGING - 0.4% | ||||||||||||||||
CCL Industries, Inc. (a) | 3.050 | % | 06/01/30 | 1,750,000 | 1,404,806 | |||||||||||
Sonoco Products Co. | 5.750 | % | 11/01/40 | 1,000,000 | 947,332 | |||||||||||
2,352,138 | ||||||||||||||||
DIVERSIFIED INDUSTRIALS - 0.1% | ||||||||||||||||
Illinois Tool Works, Inc. | 3.900 | % | 09/01/42 | 1,000,000 | 824,525 | |||||||||||
ELECTRIC UTILITIES - 6.2% | ||||||||||||||||
Avangrid, Inc. | 3.150 | % | 12/01/24 | 1,800,000 | 1,720,845 | |||||||||||
Avista Corp. | 4.000 | % | 04/01/52 | 1,000,000 | 779,353 | |||||||||||
Caledonia Generating, LLC (a) | 1.950 | % | 02/28/34 | 1,818,788 | 1,542,309 | |||||||||||
Consolidated Edison Co. (b) | 3.350 | % | 04/01/30 | 1,000,000 | 878,591 | |||||||||||
DTE Electric Co. | 4.050 | % | 05/15/48 | 1,750,000 | 1,425,508 | |||||||||||
DTE Electric Co. | 3.650 | % | 03/01/52 | 500,000 | 377,891 | |||||||||||
Duke Energy Carolinas, LLC | 3.550 | % | 03/15/52 | 1,000,000 | 730,105 | |||||||||||
Duke Energy Progress NC Storm Funding, LLC, Series 2021A-3 | 2.799 | % | 07/01/41 | 2,000,000 | 1,424,922 | |||||||||||
Duke Energy Progress, LLC | 3.450 | % | 03/15/29 | 1,750,000 | 1,586,719 | |||||||||||
Duke Energy Progress, LLC | 4.000 | % | 04/01/52 | 1,500,000 | 1,175,056 | |||||||||||
Electricite de France S.A. (a) | 3.625 | % | 10/13/25 | 1,250,000 | 1,200,687 | |||||||||||
Enel Finance International N.V. (a) | 2.650 | % | 09/10/24 | 1,250,000 | 1,183,067 | |||||||||||
Florida Power & Light Co. | 3.700 | % | 12/01/47 | 1,300,000 | 1,011,755 | |||||||||||
Florida Power & Light Co. (b) | 2.875 | % | 12/04/51 | 2,000,000 | 1,318,232 | |||||||||||
Georgia Power Co. | 3.250 | % | 04/01/26 | 1,000,000 | 937,189 | |||||||||||
Interstate Power & Light Co. | 3.600 | % | 04/01/29 | 1,250,000 | 1,130,460 | |||||||||||
Liberty Utilities Financial Services (a) | 2.050 | % | 09/15/30 | 355,000 | 268,650 | |||||||||||
MidAmerican Energy Co. | 3.950 | % | 08/01/47 | 1,750,000 | 1,387,242 | |||||||||||
Midland Cogeneration Venture, L.P. (a) | 6.000 | % | 03/15/25 | 194,797 | 190,901 | |||||||||||
Narragansett Electric Co. (a) | 3.395 | % | 04/09/30 | 1,500,000 | 1,326,616 | |||||||||||
National Rural Utilities | 1.350 | % | 03/15/31 | 1,000,000 | 731,487 | |||||||||||
NextEra Energy Capital Holdings, Inc. | 0.650 | % | 03/01/23 | 400,000 | 393,867 |
Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
CORPORATE BONDS - 40.2% (Continued) | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
ELECTRIC UTILITIES - 6.2% (Continued) | ||||||||||||||||
Niagara Mohawk Power Corp. (a) | 1.960 | % | 06/27/30 | $ | 1,500,000 | $ | 1,157,674 | |||||||||
Northern States Power Co. | 2.900 | % | 03/01/50 | 1,250,000 | 835,224 | |||||||||||
NSTAR Electric Co. | 3.950 | % | 04/01/30 | 600,000 | 557,988 | |||||||||||
NSTAR Electric Co. | 5.500 | % | 03/15/40 | 1,250,000 | 1,220,615 | |||||||||||
Pacificorp | 8.080 | % | 10/14/22 | 500,000 | 500,366 | |||||||||||
PG&E Energy Recovery Funding, LLC | 2.822 | % | 07/15/46 | 1,000,000 | 680,197 | |||||||||||
PG&E Wildfire Recovery Funding, LLC, Series 2022-A | 4.674 | % | 12/01/51 | 1,500,000 | 1,350,695 | |||||||||||
Potomac Electric Power Co. | 6.500 | % | 11/15/37 | 1,000,000 | 1,065,892 | |||||||||||
Public Service Co. | 3.700 | % | 06/15/28 | 1,750,000 | 1,634,019 | |||||||||||
Puget Energy, Inc. | 4.223 | % | 06/15/48 | 1,000,000 | 815,835 | |||||||||||
Rochester Gas & Electric Corp. (a) | 1.850 | % | 12/01/30 | 500,000 | 377,748 | |||||||||||
San Diego Gas and Electric Co. | 4.500 | % | 08/15/40 | 841,000 | 723,129 | |||||||||||
Solar Star Funding, LLC (a) | 3.950 | % | 06/30/35 | 262,310 | 239,983 | |||||||||||
Solar Star Funding, LLC (a) | 5.375 | % | 06/30/35 | 408,982 | 410,361 | |||||||||||
Southern California Edison | 4.050 | % | 03/15/42 | 1,165,000 | 868,178 | |||||||||||
Tenaska Virginia Partners, L.P. (a) | 6.119 | % | 03/30/24 | 268,040 | 266,038 | |||||||||||
Texas Electric Market Stabilization N, LLC | 5.057 | % | 08/01/46 | 1,500,000 | 1,421,698 | |||||||||||
Topaz Solar Farms, LLC (a) | 4.875 | % | 09/30/39 | 226,455 | 197,016 | |||||||||||
Topaz Solar Farms, LLC (a) | 5.750 | % | 09/30/39 | 546,943 | 503,204 | |||||||||||
Union Electric Co. | 2.625 | % | 03/15/51 | 2,000,000 | 1,229,777 | |||||||||||
Westar Energy, Inc. | 2.550 | % | 07/01/26 | 1,292,000 | 1,182,780 | |||||||||||
39,959,869 | ||||||||||||||||
ELECTRICAL EQUIPMENT - 0.3% | ||||||||||||||||
Johnson Controls International plc (b) | 1.750 | % | 09/15/30 | 1,000,000 | 773,474 | |||||||||||
Legrand S.A. | 8.500 | % | 02/15/25 | 1,000,000 | 1,080,866 | |||||||||||
Roper Technologies, Inc. | 2.000 | % | 06/30/30 | 440,000 | 336,891 | |||||||||||
2,191,231 | ||||||||||||||||
ENTERTAINMENT CONTENT - 0.2% | ||||||||||||||||
Magallanes, Inc. (a) | 4.054 | % | 03/15/29 | 1,500,000 | 1,295,532 | |||||||||||
FOOD - 1.5% | ||||||||||||||||
Campbell Soup Co. | 3.950 | % | 03/15/25 | 1,500,000 | 1,458,911 | |||||||||||
Cargill, Inc. (a) | 4.760 | % | 11/23/45 | 1,500,000 | 1,329,728 | |||||||||||
General Mills, Inc. | 4.000 | % | 04/17/25 | 1,500,000 | 1,464,168 | |||||||||||
Hormel Foods Corp. | 1.800 | % | 06/11/30 | 2,250,000 | 1,798,080 |
Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
CORPORATE BONDS - 40.2% (Continued) | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
FOOD - 1.5% (Continued) | ||||||||||||||||
Ingredion, Inc. | 2.900 | % | 06/01/30 | $ | 1,000,000 | $ | 825,242 | |||||||||
Kellogg Co. | 2.650 | % | 12/01/23 | 1,250,000 | 1,220,885 | |||||||||||
Mars, Inc. (a) | 3.600 | % | 04/01/34 | 1,500,000 | 1,282,306 | |||||||||||
9,379,320 | ||||||||||||||||
FORESTRY, PAPER & WOOD PRODUCTS - 0.1% | ||||||||||||||||
Fibria Overseas Finance Ltd. | 5.500 | % | 01/17/27 | 800,000 | 764,149 | |||||||||||
GAS & WATER UTILITIES - 0.4% | ||||||||||||||||
American Water Capital Corp. | 2.800 | % | 05/01/30 | 1,500,000 | 1,267,588 | |||||||||||
Brooklyn Union Gas Co. (a) | 4.504 | % | 03/10/46 | 1,250,000 | 945,729 | |||||||||||
Indiana Gas Co., Inc. | 6.550 | % | 06/30/28 | 250,000 | 259,408 | |||||||||||
2,472,725 | ||||||||||||||||
HEALTH CARE FACILITIES & SERVICES - 0.2% | ||||||||||||||||
Kaiser Foundation Hospital | 3.150 | % | 05/01/27 | 1,500,000 | 1,389,933 | |||||||||||
HOME & OFFICE PRODUCTS - 0.1% | ||||||||||||||||
Steelcase, Inc. (b) | 5.125 | % | 01/18/29 | 1,000,000 | 855,516 | |||||||||||
HOME CONSTRUCTION - 0.1% | ||||||||||||||||
NVR, Inc. | 3.000 | % | 05/15/30 | 1,000,000 | 816,420 | |||||||||||
INSTITUTIONAL FINANCIAL SERVICES - 1.6% | ||||||||||||||||
Brookfield Finance, Inc. | 4.250 | % | 06/02/26 | 1,570,000 | 1,503,459 | |||||||||||
Goldman Sachs Group, Inc. | 3.272 | % | 09/29/25 | 1,500,000 | 1,428,808 | |||||||||||
Goldman Sachs Group, Inc. (b) | 4.223 | % | 05/01/29 | 1,000,000 | 908,876 | |||||||||||
Goldman Sachs Group, Inc. | 3.800 | % | 03/15/30 | 1,500,000 | 1,300,594 | |||||||||||
Morgan Stanley | 3.125 | % | 07/27/26 | 2,000,000 | 1,841,628 | |||||||||||
Morgan Stanley, Series GMTN | 2.699 | % | 01/22/31 | 1,250,000 | 1,013,463 | |||||||||||
National Securities Clearing Corp. (a) | 1.500 | % | 04/23/25 | 1,000,000 | 921,020 | |||||||||||
State Street Corp. | 7.350 | % | 06/15/26 | 1,000,000 | 1,062,294 | |||||||||||
9,980,142 | ||||||||||||||||
INSURANCE - 4.5% | ||||||||||||||||
Aflac, Inc. | 4.000 | % | 10/15/46 | 1,058,000 | 833,724 |
Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
CORPORATE BONDS - 40.2% (Continued) | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
INSURANCE - 4.5% (Continued) | ||||||||||||||||
Athene Global Funding (a) | 2.800 | % | 05/26/23 | $ | 1,500,000 | $ | 1,478,570 | |||||||||
First American Financial Corp. | 2.400 | % | 08/15/31 | 1,500,000 | 1,071,540 | |||||||||||
Five Corners Funding Trust (a) | 4.419 | % | 11/15/23 | 1,000,000 | 990,627 | |||||||||||
GA Global Funding Trust | 2.250 | % | 01/06/27 | 2,000,000 | 1,732,118 | |||||||||||
Horace Mann Educators Corp. | 4.500 | % | 12/01/25 | 1,235,000 | 1,179,888 | |||||||||||
Jackson National Life Global Funding | 1.750 | % | 01/12/25 | 385,000 | 353,799 | |||||||||||
Kemper Corp. | 4.350 | % | 02/15/25 | 1,250,000 | 1,217,731 | |||||||||||
Marsh & McLennan Cos., Inc. | 3.750 | % | 03/14/26 | 1,000,000 | 966,650 | |||||||||||
Massachusetts Mutual Life Insurance Co. (a) | 3.375 | % | 04/15/50 | 1,500,000 | 1,023,291 | |||||||||||
Met Life Global Funding I (a) | 1.950 | % | 01/13/23 | 500,000 | 496,640 | |||||||||||
Met Life Global Funding I (a) | 3.600 | % | 01/11/24 | 1,750,000 | 1,723,875 | |||||||||||
New York Life Global Funding (a) | 2.900 | % | 01/17/24 | 3,000,000 | 2,931,719 | |||||||||||
OneBeacon US Holdings, Inc. | 4.600 | % | 11/09/22 | 1,000,000 | 1,000,103 | |||||||||||
Pacific Life Global Funding II, Series 2020-1 (a) | 1.200 | % | 06/24/25 | 415,000 | 372,735 | |||||||||||
Pacific Life Global Funding II, Series 2021-1 (a) | 1.450 | % | 01/20/28 | 1,000,000 | 814,266 | |||||||||||
Primerica, Inc. | 2.800 | % | 11/19/31 | 1,000,000 | 785,196 | |||||||||||
Principal Financial Group, Inc. | 3.700 | % | 05/15/29 | 1,250,000 | 1,119,272 | |||||||||||
Prudential Financial, Inc. | 1.500 | % | 03/10/26 | 644,000 | 575,909 | |||||||||||
Prudential plc | 3.125 | % | 04/14/30 | 750,000 | 626,918 | |||||||||||
Reliance STD Life Insurance Co. (a) | 2.750 | % | 05/07/25 | 1,280,000 | 1,194,338 | |||||||||||
RLI Corp. (b) | 4.875 | % | 09/15/23 | 1,000,000 | 1,000,796 | |||||||||||
Sammons Financial Group, Inc. (a) | 4.450 | % | 05/12/27 | 1,200,000 | 1,097,628 | |||||||||||
Security Benefit Global, Series MTN (a) | 1.250 | % | 05/17/24 | 1,500,000 | 1,398,604 | |||||||||||
Teachers Insurance & Annuity Association (a) | 4.375 | % | 09/15/54 | 2,678,000 | 2,572,225 | |||||||||||
Trustage Financial Group, Inc. | 4.625 | % | 04/15/32 | 400,000 | 345,335 | |||||||||||
28,903,497 | ||||||||||||||||
LEISURE FACILITIES & SERVICES - 0.6% | ||||||||||||||||
Hyatt Hotels Corp. | 3.375 | % | 07/15/23 | 1,000,000 | 989,650 | |||||||||||
Marriott International, Inc. | 3.600 | % | 04/15/24 | 727,000 | 709,829 | |||||||||||
McDonald's Corp., Series MTN | 3.500 | % | 07/01/27 | 1,000,000 | 933,888 | |||||||||||
Starbucks Corp. (b) | 2.450 | % | 06/15/26 | 1,000,000 | 916,964 | |||||||||||
3,550,331 | ||||||||||||||||
MACHINERY - 0.6% | ||||||||||||||||
Ingersoll-Rand Global Holding Co. Ltd. | 6.391 | % | 11/15/27 | 655,000 | 663,586 | |||||||||||
John Deere Capital Corp. | 1.750 | % | 03/09/27 | 250,000 | 219,003 |
Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
CORPORATE BONDS - 40.2% (Continued) | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
MACHINERY - 0.6% (Continued) | ||||||||||||||||
John Deere Capital Corp. | 3.050 | % | 01/06/28 | $ | 1,250,000 | $ | 1,146,872 | |||||||||
Xylem, Inc. | 1.950 | % | 01/30/28 | 1,775,000 | 1,498,070 | |||||||||||
3,527,531 | ||||||||||||||||
MEDICAL EQUIPMENT & DEVICES - 0.2% | ||||||||||||||||
Alcon Finance Corp. (a) | 2.600 | % | 05/27/30 | 1,250,000 | 1,008,454 | |||||||||||
PERSONAL PRODUCTS - 0.1% | ||||||||||||||||
Estée Lauder Cos., Inc. (The) (b) | 2.600 | % | 04/15/30 | 1,000,000 | 847,585 | |||||||||||
PIPELINES - 0.1% | ||||||||||||||||
Northern Natural Gas Co. (a) | 4.100 | % | 09/15/42 | 1,000,000 | 737,291 | |||||||||||
REITS - 3.5% | ||||||||||||||||
Agree Ltd. Partnership | 2.900 | % | 10/01/30 | 650,000 | 519,307 | |||||||||||
Agree Ltd. Partnership | 4.800 | % | 10/01/32 | 715,000 | 643,114 | |||||||||||
Alexandria Real Estate Equities, Inc. | 2.950 | % | 03/15/34 | 1,000,000 | 773,178 | |||||||||||
Boston Properties, L.P. | 4.500 | % | 12/01/28 | 1,250,000 | 1,150,256 | |||||||||||
Camden Property Trust | 2.800 | % | 05/15/30 | 500,000 | 419,704 | |||||||||||
Digital Realty Trust, L.P. | 5.550 | % | 01/15/28 | 2,250,000 | 2,231,223 | |||||||||||
Duke Realty Trust, L.P. | 2.875 | % | 11/15/29 | 1,500,000 | 1,277,348 | |||||||||||
ERP Operating, L.P. | 4.150 | % | 12/01/28 | 1,250,000 | 1,148,870 | |||||||||||
ESSEX Portfolio, L.P. | 2.650 | % | 03/15/32 | 1,500,000 | 1,163,270 | |||||||||||
Federal Realty Investment Trust | 1.250 | % | 02/15/26 | 515,000 | 453,175 | |||||||||||
Kilroy Realty Corp. | 2.500 | % | 11/15/32 | 1,750,000 | 1,257,868 | |||||||||||
Kimco Realty Corp. | 2.700 | % | 10/01/30 | 1,750,000 | 1,410,693 | |||||||||||
Lexington Realty Trust | 2.700 | % | 09/15/30 | 1,500,000 | 1,154,003 | |||||||||||
Mid-America Apartment Communities, Inc. (b) | 3.950 | % | 03/15/29 | 1,750,000 | 1,591,284 | |||||||||||
Ontario Teachers Cadillac Fairview Properties Trust (a) | 2.500 | % | 10/15/31 | 1,125,000 | 879,590 | |||||||||||
Prologis, L.P. | 4.625 | % | 01/15/33 | 1,500,000 | 1,425,117 | |||||||||||
Regency Centers, L.P. | 3.750 | % | 06/15/24 | 1,000,000 | 969,438 | |||||||||||
Rexford Industrial Realty, L.P. | 2.150 | % | 09/01/31 | 1,750,000 | 1,312,350 | |||||||||||
Sun Communities Operating Ltd. | 2.700 | % | 07/15/31 | 500,000 | 377,893 | |||||||||||
UDR, Inc. | 1.900 | % | 03/15/33 | 1,000,000 | 693,068 | |||||||||||
Vornado Realty, L.P. | 3.500 | % | 01/15/25 | 567,000 | 530,648 |
Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
CORPORATE BONDS - 40.2% (Continued) | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
REITS - 3.5% (Continued) | ||||||||||||||||
WP Carey, Inc. | 2.450 | % | 02/01/32 | $ | 985,000 | $ | 735,054 | |||||||||
22,116,451 | ||||||||||||||||
RETAIL - CONSUMER STAPLES - 0.2% | ||||||||||||||||
Kroger Co. (The) | 5.000 | % | 04/15/42 | 1,000,000 | 882,497 | |||||||||||
Walmart, Inc. | 1.800 | % | 09/22/31 | 500,000 | 397,235 | |||||||||||
1,279,732 | ||||||||||||||||
RETAIL - DISCRETIONARY - 0.6% | ||||||||||||||||
ERAC USA Finance, LLC (a) | 2.700 | % | 11/01/23 | 1,250,000 | 1,216,487 | |||||||||||
Home Depot, Inc. | 3.625 | % | 04/15/52 | 1,000,000 | 755,658 | |||||||||||
Lowe's Cos., Inc. | 4.650 | % | 04/15/42 | 1,000,000 | 846,823 | |||||||||||
Lowe's Cos., Inc. | 3.000 | % | 10/15/50 | 500,000 | 306,174 | |||||||||||
Lowe's Cos., Inc. (b) | 5.625 | % | 04/15/53 | 1,000,000 | 924,810 | |||||||||||
4,049,952 | ||||||||||||||||
SEMICONDUCTORS - 0.4% | ||||||||||||||||
Intel Corp. | 4.150 | % | 08/05/32 | 1,000,000 | 910,641 | |||||||||||
Intel Corp. | 3.734 | % | 12/08/47 | 1,361,000 | 1,011,071 | |||||||||||
NVIDIA Corp. | 2.850 | % | 04/01/30 | 500,000 | 428,530 | |||||||||||
Skyworks Solutions, Inc. | 0.900 | % | 06/01/23 | 500,000 | 485,088 | |||||||||||
2,835,330 | ||||||||||||||||
SOFTWARE - 0.4% | ||||||||||||||||
Microsoft Corp. | 2.525 | % | 06/01/50 | 3,000,000 | 1,960,030 | |||||||||||
Microsoft Corp. | 2.921 | % | 03/17/52 | 1,000,000 | 705,296 | |||||||||||
2,665,326 | ||||||||||||||||
SPECIALTY FINANCE - 1.2% | ||||||||||||||||
American Express Credit Corp. | 3.000 | % | 10/30/24 | 1,000,000 | 964,865 | |||||||||||
BlueHub Loan Fund, Inc. | 3.099 | % | 01/01/30 | 1,030,000 | 887,405 | |||||||||||
Community Preservation Corp. (The) | 2.867 | % | 02/01/30 | 1,750,000 | 1,439,065 | |||||||||||
F&G Global Funding | 2.300 | % | 04/11/27 | 535,000 | 460,700 | |||||||||||
Fidelity National Financial, Inc. | 3.400 | % | 06/15/30 | 500,000 | 407,601 | |||||||||||
GATX Corp. | 4.350 | % | 02/15/24 | 300,000 | 296,192 | |||||||||||
Low Income Investment Fund | 3.386 | % | 07/01/26 | 115,000 | 109,103 | |||||||||||
USAA Capital Corp. (a) | 1.500 | % | 05/01/23 | 1,000,000 | 984,221 | |||||||||||
USAA Capital Corp. (a) | 2.125 | % | 05/01/30 | 3,000,000 | 2,409,134 | |||||||||||
7,958,286 | ||||||||||||||||
STEEL - 0.2% | ||||||||||||||||
Nucor Corp. | 2.000 | % | 06/01/25 | 460,000 | 424,580 |
Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
CORPORATE BONDS - 40.2% (Continued) | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
STEEL - 0.2% (Continued) | ||||||||||||||||
Reliance Steel & Aluminum Co. | 4.500 | % | 04/15/23 | $ | 1,105,000 | $ | 1,102,574 | |||||||||
1,527,154 | ||||||||||||||||
TECHNOLOGY HARDWARE - 0.7% | ||||||||||||||||
Apple, Inc. | 3.000 | % | 06/20/27 | 1,000,000 | 939,592 | |||||||||||
Apple, Inc. | 2.650 | % | 05/11/50 | 1,000,000 | 657,616 | |||||||||||
Apple, Inc. | 2.650 | % | 02/08/51 | 2,000,000 | 1,313,066 | |||||||||||
HP, Inc. (b) | 4.750 | % | 01/15/28 | 1,100,000 | 1,032,265 | |||||||||||
HP, Inc. | 4.000 | % | 04/15/29 | 915,000 | 801,902 | |||||||||||
4,744,441 | ||||||||||||||||
TECHNOLOGY SERVICES - 0.6% | ||||||||||||||||
Experian Finance plc (a) | 2.750 | % | 03/08/30 | 635,000 | 513,192 | |||||||||||
IBM Corp. (b) | 3.300 | % | 05/15/26 | 1,000,000 | 942,274 | |||||||||||
Moody's Corp. | 3.250 | % | 05/20/50 | 500,000 | 338,826 | |||||||||||
Moody's Corp. | 3.750 | % | 02/25/52 | 1,000,000 | 739,808 | |||||||||||
RELX Capital, Inc. | 3.500 | % | 03/16/23 | 1,500,000 | 1,490,381 | |||||||||||
4,024,481 | ||||||||||||||||
TELECOMMUNICATIONS - 0.7% | ||||||||||||||||
AT&T, Inc. | 5.250 | % | 03/01/37 | 500,000 | 460,377 | |||||||||||
AT&T, Inc. | 4.750 | % | 05/15/46 | 1,500,000 | 1,257,213 | |||||||||||
Verizon Communications, Inc. | 3.875 | % | 02/08/29 | 1,000,000 | 912,881 | |||||||||||
Verizon Communications, Inc. (b) | 1.500 | % | 09/18/30 | 1,000,000 | 751,746 | |||||||||||
Verizon Communications, Inc. | 2.987 | % | 10/30/56 | 1,799,000 | 1,069,365 | |||||||||||
4,451,582 | ||||||||||||||||
TRANSPORTATION & LOGISTICS - 1.3% | ||||||||||||||||
British Airways, Series 2013-1 (a) | 4.625 | % | 12/20/25 | 319,474 | 310,562 | |||||||||||
Burlington Northern Santa Fe, LLC | 5.750 | % | 05/01/40 | 1,000,000 | 1,012,130 | |||||||||||
Canadian Pacific Railway Co. | 2.050 | % | 03/05/30 | 1,750,000 | 1,402,908 | |||||||||||
Mexico City Airport Trust (a) | 4.250 | % | 10/31/26 | 497,000 | 442,330 | |||||||||||
Norfolk Southern Corp. | 4.837 | % | 10/01/41 | 1,000,000 | 891,348 | |||||||||||
Norfolk Southern Corp. | 3.050 | % | 05/15/50 | 1,500,000 | 977,531 | |||||||||||
Penske Truck Leasing Co. (a) | 3.450 | % | 07/01/24 | 1,250,000 | 1,202,543 | |||||||||||
TTX Co. (a) | 4.600 | % | 02/01/49 | 280,000 | 247,494 | |||||||||||
Union Pacific Corp. | 4.950 | % | 09/09/52 | 2,000,000 | 1,866,516 | |||||||||||
8,353,362 | ||||||||||||||||
WHOLESALE - CONSUMER STAPLES - 0.3% | ||||||||||||||||
Bunge Ltd. Finance Corp. | 1.630 | % | 08/17/25 | 395,000 | 355,321 |
Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
CORPORATE BONDS - 40.2% (Continued) | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
WHOLESALE - CONSUMER STAPLES - 0.3% (Continued) | ||||||||||||||||
Sysco Corp. | 2.400 | % | 02/15/30 | $ | 1,750,000 | $ | 1,424,206 | |||||||||
1,779,527 | ||||||||||||||||
TOTAL CORPORATE BONDS (COST $301,564,909) | $ | 257,949,310 | ||||||||||||||
CORPORATE NOTES - 1.1% | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
COMMUNITY DEVELOPMENT - 1.1% | ||||||||||||||||
Calvert Social Investment Foundation, Inc. (d) | 0.400 | % | 12/15/22 | $ | 500,000 | $ | 495,743 | |||||||||
Calvert Social Investment Foundation, Inc. (d) | 3.000 | % | 06/15/23 | 1,650,000 | 1,622,460 | |||||||||||
Calvert Social Investment Foundation, Inc. (d) | 3.000 | % | 12/15/23 | 950,000 | 922,785 | |||||||||||
Calvert Social Investment Foundation, Inc. (d) | 1.000 | % | 06/14/24 | 550,000 | 511,095 | |||||||||||
Calvert Social Investment Foundation, Inc. (d) | 3.000 | % | 06/17/24 | 980,000 | 941,433 | |||||||||||
Calvert Social Investment Foundation, Inc. (d) | 3.000 | % | 12/15/24 | 400,000 | 380,333 | |||||||||||
Calvert Social Investment Foundation, Inc. (d) | 2.500 | % | 06/13/25 | 1,400,000 | 1,301,087 | |||||||||||
Calvert Social Investment Foundation, Inc. (d) | 2.500 | % | 12/15/25 | 650,000 | 597,335 | |||||||||||
TOTAL CORPORATE NOTES (COST $7,080,000) | $ | 6,772,271 | ||||||||||||||
FOREIGN GOVERNMENTS - 7.7% | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
FOREIGN AGENCY - 0.7% | ||||||||||||||||
BNG Bank N.V. (a)(b) | 1.500 | % | 10/16/24 | $ | 1,500,000 | $ | 1,417,434 | |||||||||
BNG Bank N.V. (a)(b) | 0.500 | % | 11/24/25 | 2,000,000 | 1,772,817 | |||||||||||
Kommunalbanken A.S. (a) | 2.125 | % | 02/11/25 | 1,000,000 | 950,780 | |||||||||||
Kommunivest I Sverige AB, Series MTN (a) | 0.375 | % | 06/19/24 | 500,000 | 466,698 | |||||||||||
4,607,729 | ||||||||||||||||
SUPRANATIONAL - 7.0% | ||||||||||||||||
African Development Bank | 0.750 | % | 04/03/23 | 5,000,000 | 4,917,500 | |||||||||||
Asian Development Bank | 2.125 | % | 03/19/25 | 1,000,000 | 946,193 | |||||||||||
Asian Development Bank | 3.125 | % | 09/26/28 | 1,000,000 | 941,069 | |||||||||||
Central American Bank for Economic Integration (a) | 1.140 | % | 02/09/26 | 1,200,000 | 1,058,016 |
Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
FOREIGN GOVERNMENTS - 7.7% (Continued) | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
SUPRANATIONAL - 7.0% (Continued) | ||||||||||||||||
European Bank for Reconstruction & Development | 1.625 | % | 09/27/24 | $ | 1,250,000 | $ | 1,185,521 | |||||||||
European Bank for Reconstruction & Development | 1.500 | % | 02/13/25 | 200,000 | 187,199 | |||||||||||
European Investment Bank (b) | 2.500 | % | 10/15/24 | 1,000,000 | 964,701 | |||||||||||
European Investment Bank | 2.125 | % | 04/13/26 | 1,000,000 | 927,673 | |||||||||||
European Investment Bank (b) | 2.375 | % | 05/24/27 | 4,000,000 | 3,697,400 | |||||||||||
Inter-American Development Bank | 0.875 | % | 04/03/25 | 3,000,000 | 2,752,748 | |||||||||||
Inter-American Development Bank | 4.375 | % | 01/24/44 | 3,000,000 | 2,989,148 | |||||||||||
International Bank for Reconstruction & Development | 0.250 | % | 11/24/23 | 4,500,000 | 4,294,362 | |||||||||||
International Bank for Reconstruction & Development | 0.625 | % | 04/22/25 | 1,000,000 | 910,286 | |||||||||||
International Bank for Reconstruction & Development | 3.125 | % | 11/20/25 | 1,000,000 | 964,160 | |||||||||||
International Bank for Reconstruction & Development | 0.875 | % | 07/15/26 | 3,000,000 | 2,640,330 | |||||||||||
International Bank for Reconstruction & Development | 3.125 | % | 06/15/27 | 4,000,000 | 3,818,240 | |||||||||||
International Development Association (a) | 2.750 | % | 04/24/23 | 5,000,000 | 4,958,100 | |||||||||||
International Development Association (a) | 0.375 | % | 09/23/25 | 2,000,000 | 1,776,020 | |||||||||||
International Development Association (a)(b) | 0.875 | % | 04/28/26 | 2,000,000 | 1,778,745 | |||||||||||
International Finance Corp., Series GMTN | 2.125 | % | 04/07/26 | 3,000,000 | 2,782,080 | |||||||||||
44,489,491 | ||||||||||||||||
TOTAL FOREIGN GOVERNMENTS (COST $52,507,855) | $ | 49,097,220 | ||||||||||||||
COMMERCIAL MORTGAGE-BACKED SECURITIES - 0.0% (e) | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
Commercial Mortgage Pass-Through Certificates, Class A-3 (Cost $279,946) | 2.853 | % | 10/17/45 | $ | 274,543 | $ | 273,990 |
Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
U.S. GOVERNMENT AGENCIES - 42.7% | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
DEVELOPMENT FINANCE CORPORATION - 1.6% | ||||||||||||||||
DFC (PO) | 0.000 | % | 06/21/23 | $ | 1,000,000 | $ | 1,062,440 | |||||||||
DFC (c) | 0.130 | % | 09/15/26 | 666,667 | 666,667 | |||||||||||
DFC | 1.590 | % | 04/15/28 | 2,000,000 | 1,740,592 | |||||||||||
DFC | 1.650 | % | 04/15/28 | 3,500,000 | 3,074,043 | |||||||||||
DFC | 3.130 | % | 04/15/28 | 1,000,000 | 935,576 | |||||||||||
DFC | 3.280 | % | 09/15/29 | 804,865 | 771,219 | |||||||||||
DFC | 3.520 | % | 09/20/32 | 714,286 | 679,172 | |||||||||||
DFC | 3.540 | % | 06/15/30 | 455,894 | 437,097 | |||||||||||
DFC | 3.820 | % | 06/01/33 | 797,576 | 769,821 | |||||||||||
10,136,627 | ||||||||||||||||
FEDERAL HOME LOAN BANK - 4.5% | ||||||||||||||||
FHLB | 3.250 | % | 11/16/28 | 8,500,000 | 8,110,404 | |||||||||||
FHLB | 5.500 | % | 07/15/36 | 18,620,000 | 20,803,732 | |||||||||||
28,914,136 | ||||||||||||||||
FEDERAL HOME LOAN MORTGAGE CORPORATION - 11.0% | ||||||||||||||||
FHLMC | 4.000 | % | 11/01/24 | 36,093 | 35,199 | |||||||||||
FHLMC | 0.375 | % | 09/23/25 | 3,500,000 | 3,121,496 | |||||||||||
FHLMC | 4.000 | % | 10/01/25 | 24,536 | 23,929 | |||||||||||
FHLMC | 2.875 | % | 04/25/26 | 3,000,000 | 2,835,137 | |||||||||||
FHLMC | 6.000 | % | 04/01/27 | 42,960 | 43,713 | |||||||||||
FHLMC | 2.500 | % | 10/01/27 | 232,398 | 222,549 | |||||||||||
FHLMC | 2.738 | % | 04/25/29 | 2,298,523 | 2,161,662 | |||||||||||
FHLMC | 2.412 | % | 08/25/29 | 3,670,000 | 3,212,068 | |||||||||||
FHLMC | 7.000 | % | 02/01/30 | 13,682 | 13,687 | |||||||||||
FHLMC | 7.500 | % | 07/01/30 | 54,139 | 56,838 | |||||||||||
FHLMC | 1.487 | % | 11/25/30 | 2,500,000 | 1,991,760 | |||||||||||
FHLMC | 1.878 | % | 01/25/31 | 1,500,000 | 1,238,864 | |||||||||||
FHLMC | 2.000 | % | 01/25/31 | 3,000,000 | 2,475,798 | |||||||||||
FHLMC | 7.000 | % | 03/01/31 | 22,414 | 23,387 | |||||||||||
FHLMC | 1.777 | % | 10/25/31 | 2,000,000 | 1,596,310 | |||||||||||
FHLMC | 2.091 | % | 11/25/31 | 2,500,000 | 2,049,775 | |||||||||||
FHLMC | 6.250 | % | 07/15/32 | 7,050,000 | 8,203,219 | |||||||||||
FHLMC | 3.123 | % | 08/25/32 | 2,000,000 | 1,795,828 | |||||||||||
FHLMC | 3.000 | % | 11/01/32 | 362,444 | 334,335 | |||||||||||
FHLMC | 3.000 | % | 11/01/32 | 469,372 | 432,970 | |||||||||||
FHLMC | 5.500 | % | 11/01/33 | 28,408 | 29,294 |
Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
U.S. GOVERNMENT AGENCIES - 42.7% (Continued) | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
FEDERAL HOME LOAN MORTGAGE CORPORATION - 11.0% (Continued) | ||||||||||||||||
FHLMC (H15T1Y + 223.10) (c) | 2.356 | % | 05/01/34 | $ | 2,078 | $ | 2,051 | |||||||||
FHLMC (H15T1Y + 223.10) (c) | 3.356 | % | 05/01/34 | 25,707 | 26,092 | |||||||||||
FHLMC | 1.783 | % | 06/25/34 | 2,084,061 | 1,587,179 | |||||||||||
FHLMC | 5.000 | % | 07/01/35 | 53,995 | 54,304 | |||||||||||
FHLMC | 4.500 | % | 10/01/35 | 73,074 | 71,494 | |||||||||||
FHLMC | 2.438 | % | 02/25/36 | 4,000,000 | 3,095,612 | |||||||||||
FHLMC | 5.500 | % | 03/01/36 | 20,160 | 20,848 | |||||||||||
FHLMC | 5.500 | % | 06/01/36 | 29,903 | 30,922 | |||||||||||
FHLMC | 6.000 | % | 06/01/36 | 21,803 | 22,227 | |||||||||||
FHLMC | 5.500 | % | 12/01/36 | 24,129 | 24,952 | |||||||||||
FHLMC | 6.000 | % | 08/01/37 | 13,643 | 14,350 | |||||||||||
FHLMC | 5.000 | % | 03/01/38 | 123,281 | 124,391 | |||||||||||
FHLMC | 4.500 | % | 06/01/39 | 130,148 | 127,693 | |||||||||||
FHLMC | 5.000 | % | 06/01/39 | 191,469 | 193,202 | |||||||||||
FHLMC | 4.500 | % | 07/01/39 | 123,290 | 120,977 | |||||||||||
FHLMC | 4.500 | % | 11/01/39 | 112,456 | 110,330 | |||||||||||
FHLMC | 4.500 | % | 09/01/40 | 166,471 | 163,278 | |||||||||||
FHLMC | 4.500 | % | 05/01/41 | 325,209 | 318,960 | |||||||||||
FHLMC | 4.500 | % | 07/01/41 | 380,105 | 372,835 | |||||||||||
FHLMC | 5.000 | % | 09/01/41 | 159,096 | 160,536 | |||||||||||
FHLMC | 3.500 | % | 10/01/41 | 184,647 | 170,496 | |||||||||||
FHLMC | 4.000 | % | 10/01/41 | 198,051 | 188,039 | |||||||||||
FHLMC | 3.500 | % | 02/01/42 | 317,011 | 291,508 | |||||||||||
FHLMC | 4.000 | % | 02/01/42 | 88,357 | 84,319 | |||||||||||
FHLMC | 3.500 | % | 06/01/42 | 361,207 | 332,145 | |||||||||||
FHLMC | 3.500 | % | 06/01/42 | 371,234 | 340,723 | |||||||||||
FHLMC | 3.500 | % | 08/01/42 | 425,808 | 390,660 | |||||||||||
FHLMC | 3.000 | % | 11/01/42 | 832,786 | 747,556 | |||||||||||
FHLMC | 3.000 | % | 01/01/43 | 459,001 | 411,907 | |||||||||||
FHLMC | 3.000 | % | 05/01/43 | 633,108 | 567,319 | |||||||||||
FHLMC | 3.500 | % | 10/01/44 | 364,220 | 334,912 | |||||||||||
FHLMC | 3.500 | % | 11/01/44 | 328,353 | 301,927 | |||||||||||
FHLMC | 3.500 | % | 04/01/45 | 407,889 | 375,056 | |||||||||||
FHLMC | 3.000 | % | 05/01/46 | 697,870 | 621,334 |
Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
U.S. GOVERNMENT AGENCIES - 42.7% (Continued) | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
FEDERAL HOME LOAN MORTGAGE CORPORATION - 11.0% (Continued) | ||||||||||||||||
FHLMC | 3.000 | % | 12/01/46 | $ | 1,739,798 | $ | 1,549,558 | |||||||||
FHLMC | 3.500 | % | 03/01/48 | 1,959,274 | 1,799,034 | |||||||||||
FHLMC | 3.500 | % | 03/01/49 | 536,156 | 488,588 | |||||||||||
FHLMC | 3.500 | % | 07/01/49 | 873,083 | 794,230 | |||||||||||
FHLMC | 3.000 | % | 09/01/49 | 989,057 | 866,836 | |||||||||||
FHLMC | 3.000 | % | 07/01/50 | 2,434,432 | 2,132,581 | |||||||||||
FHLMC | 2.000 | % | 08/01/50 | 3,334,409 | 2,715,867 | |||||||||||
FHLMC | 2.000 | % | 01/01/51 | 8,226,871 | 6,700,775 | |||||||||||
FHLMC | 2.500 | % | 04/01/51 | 8,055,833 | 6,801,928 | |||||||||||
FHLMC | 2.500 | % | 09/01/51 | 3,221,287 | 2,715,170 | |||||||||||
70,262,519 | ||||||||||||||||
FEDERAL NATIONAL MORTGAGE ASSOCIATION - 25.4% | ||||||||||||||||
FNMA | 2.670 | % | 12/01/23 | 2,236,490 | 2,203,063 | |||||||||||
FNMA (c) | 2.620 | % | 07/25/24 | 2,439,748 | 2,364,235 | |||||||||||
FNMA | 2.890 | % | 12/01/24 | 4,000,000 | 3,844,508 | |||||||||||
FNMA | 3.080 | % | 12/01/24 | 2,133,629 | 2,079,742 | |||||||||||
FNMA | 2.710 | % | 01/01/25 | 4,500,000 | 4,303,753 | |||||||||||
FNMA | 5.000 | % | 04/01/25 | 18,428 | 18,162 | |||||||||||
FNMA | 5.000 | % | 07/01/25 | 16,021 | 15,711 | |||||||||||
FNMA | 3.500 | % | 10/01/25 | 27,398 | 26,022 | |||||||||||
FNMA | 5.000 | % | 10/01/25 | 21,874 | 21,449 | |||||||||||
FNMA | 5.500 | % | 11/01/25 | 6 | 6 | |||||||||||
FNMA | 0.500 | % | 11/07/25 | 12,000,000 | 10,686,423 | |||||||||||
FNMA | 4.000 | % | 03/01/26 | 122,886 | 119,066 | |||||||||||
FNMA | 2.910 | % | 04/01/26 | 3,000,000 | 2,905,820 | |||||||||||
FNMA | 2.125 | % | 04/24/26 | 2,000,000 | 1,860,582 | |||||||||||
FNMA | 8.500 | % | 09/01/26 | 3,850 | 3,855 | |||||||||||
FNMA | 2.500 | % | 09/01/27 | 276,937 | 265,240 | |||||||||||
FNMA | 0.750 | % | 10/08/27 | 10,000,000 | 8,500,815 | |||||||||||
FNMA | 2.500 | % | 11/01/27 | 433,451 | 414,474 | |||||||||||
FNMA | 2.500 | % | 01/01/28 | 283,500 | 270,819 | |||||||||||
FNMA (c) | 3.430 | % | 06/25/28 | 1,818,021 | 1,706,331 | |||||||||||
FNMA | 2.522 | % | 08/27/29 | 5,792,305 | 5,138,905 | |||||||||||
FNMA | 0.875 | % | 08/05/30 | 17,000,000 | 13,296,428 |
Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
U.S. GOVERNMENT AGENCIES - 42.7% (Continued) | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
FEDERAL NATIONAL MORTGAGE ASSOCIATION - 25.4% (Continued) | ||||||||||||||||
FNMA | 6.625 | % | 11/15/30 | $ | 12,750,000 | $ | 14,890,272 | |||||||||
FNMA (c) | 1.561 | % | 11/25/30 | 3,000,000 | 2,374,674 | |||||||||||
FNMA (c) | 1.429 | % | 12/25/30 | 5,000,000 | 3,949,560 | |||||||||||
FNMA | 1.292 | % | 01/25/31 | 3,000,000 | 2,324,628 | |||||||||||
FNMA | 1.376 | % | 03/25/31 | 1,000,000 | 781,322 | |||||||||||
FNMA | 2.000 | % | 01/01/32 | 1,235,221 | 1,106,173 | |||||||||||
FNMA | 3.000 | % | 12/01/32 | 526,585 | 485,224 | |||||||||||
FNMA | 6.000 | % | 10/01/33 | 19,055 | 20,019 | |||||||||||
FNMA | 5.500 | % | 02/01/34 | 21,112 | 21,753 | |||||||||||
FNMA (H15T1Y + 211.70) (c) | 2.795 | % | 05/01/34 | 25,404 | 25,747 | |||||||||||
FNMA | 6.000 | % | 11/01/34 | 55,526 | 58,334 | |||||||||||
FNMA | 5.500 | % | 01/01/35 | 29,077 | 30,022 | |||||||||||
FNMA | 2.500 | % | 02/01/35 | 1,225,466 | 1,113,392 | |||||||||||
FNMA | 5.000 | % | 10/01/35 | 48,522 | 48,901 | |||||||||||
FNMA | 5.500 | % | 10/01/35 | 60,059 | 62,037 | |||||||||||
FNMA | 6.000 | % | 10/01/35 | 31,464 | 33,055 | |||||||||||
FNMA | 5.500 | % | 06/01/36 | 16,448 | 16,926 | |||||||||||
FNMA | 6.000 | % | 06/01/36 | 14,649 | 15,391 | |||||||||||
FNMA | 5.500 | % | 11/01/36 | 19,421 | 20,059 | |||||||||||
FNMA (12MO LIBOR + 156.50) (c) | 2.065 | % | 05/01/37 | 2,100 | 2,096 | |||||||||||
FNMA | 5.625 | % | 07/15/37 | 7,750,000 | 8,742,941 | |||||||||||
FNMA | 4.500 | % | 09/01/40 | 100,900 | 98,596 | |||||||||||
FNMA | 4.500 | % | 10/01/40 | 100,340 | 98,312 | |||||||||||
FNMA | 4.000 | % | 12/01/40 | 261,640 | 249,405 | |||||||||||
FNMA | 4.000 | % | 01/01/41 | 186,805 | 178,074 | |||||||||||
FNMA | 3.500 | % | 02/01/41 | 271,994 | 250,939 | |||||||||||
FNMA | 4.000 | % | 10/01/41 | 147,476 | 139,890 | |||||||||||
FNMA | 4.000 | % | 11/01/41 | 150,985 | 143,209 | |||||||||||
FNMA | 4.000 | % | 12/01/41 | 194,196 | 184,188 | |||||||||||
FNMA | 4.000 | % | 12/01/41 | 285,057 | 271,741 | |||||||||||
FNMA | 4.000 | % | 01/01/42 | 615,468 | 586,765 | |||||||||||
FNMA | 3.500 | % | 05/01/42 | 313,102 | 286,931 | |||||||||||
FNMA | 3.000 | % | 06/01/42 | 576,136 | 516,755 | |||||||||||
FNMA | 3.000 | % | 08/01/42 | 426,526 | 382,684 | |||||||||||
FNMA | 3.000 | % | 08/01/42 | 468,194 | 420,066 |
Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
U.S. GOVERNMENT AGENCIES - 42.7% (Continued) | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
FEDERAL NATIONAL MORTGAGE ASSOCIATION - 25.4% (Continued) | ||||||||||||||||
FNMA | 3.500 | % | 12/01/42 | $ | 655,391 | $ | 601,969 | |||||||||
FNMA | 3.000 | % | 06/01/43 | 526,622 | 471,580 | |||||||||||
FNMA | 4.000 | % | 12/01/44 | 739,707 | 702,829 | |||||||||||
FNMA | 3.500 | % | 05/01/45 | 871,466 | 800,797 | |||||||||||
FNMA | 3.000 | % | 04/01/46 | 685,815 | 610,955 | |||||||||||
FNMA | 3.500 | % | 11/01/46 | 1,148,668 | 1,055,314 | |||||||||||
FNMA | 4.000 | % | 10/01/48 | 540,392 | 510,624 | |||||||||||
FNMA | 4.000 | % | 11/01/48 | 1,358,321 | 1,291,586 | |||||||||||
FNMA | 3.500 | % | 05/01/49 | 447,480 | 407,360 | |||||||||||
FNMA | 4.000 | % | 06/01/49 | 692,242 | 652,919 | |||||||||||
FNMA | 3.500 | % | 08/01/49 | 1,810,175 | 1,645,498 | |||||||||||
FNMA | 3.000 | % | 09/01/49 | 943,132 | 828,720 | |||||||||||
FNMA | 3.000 | % | 06/01/50 | 1,952,548 | 1,712,572 | |||||||||||
FNMA | 2.500 | % | 07/01/50 | 3,126,103 | 2,641,580 | |||||||||||
FNMA | 2.500 | % | 08/01/50 | 2,203,056 | 1,864,863 | |||||||||||
FNMA | 3.000 | % | 08/01/50 | 3,446,076 | 3,023,852 | |||||||||||
FNMA | 2.000 | % | 11/01/50 | 5,515,233 | 4,496,048 | |||||||||||
FNMA | 2.000 | % | 01/01/51 | 9,866,385 | 8,040,840 | |||||||||||
FNMA | 2.000 | % | 02/01/51 | 5,826,036 | 4,748,445 | |||||||||||
FNMA | 2.500 | % | 04/01/51 | 16,640,463 | 14,053,009 | |||||||||||
FNMA | 2.000 | % | 08/01/51 | 3,673,320 | 2,987,980 | |||||||||||
FNMA | 2.000 | % | 11/01/51 | 5,678,833 | 4,609,806 | |||||||||||
FNMA | 2.500 | % | 05/01/52 | 5,864,870 | 4,932,724 | |||||||||||
162,667,360 | ||||||||||||||||
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION - 0.0% (e) | ||||||||||||||||
GNMA | 7.000 | % | 12/20/30 | 9,089 | 9,395 | |||||||||||
GNMA | 7.000 | % | 10/20/31 | 6,484 | 6,773 | |||||||||||
GNMA | 7.000 | % | 03/20/32 | 27,595 | 28,890 | |||||||||||
GNMA (H15T1Y + 150) (c) | 2.625 | % | 01/20/34 | 18,353 | 18,197 | |||||||||||
GNMA | 5.500 | % | 10/20/38 | 5,147 | 5,072 | |||||||||||
GNMA | 6.500 | % | 11/20/38 | 3,290 | 3,359 | |||||||||||
71,686 | ||||||||||||||||
SMALL BUSINESS ADMINISTRATION - 0.0% (e) | ||||||||||||||||
SBA (Prime - 2.65) (c) | 2.850 | % | 02/25/32 | 46,004 | 45,973 |
Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
U.S. GOVERNMENT AGENCIES - 42.7% (Continued) | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
UNITED STATES AGENCY OF INTERNATIONAL DEVELOPMENT - 0.2% | ||||||||||||||||
Hashemite Kingdom of Jordan AID Bond | 3.000 | % | 06/30/25 | $ | 1,450,000 | $ | 1,394,286 | |||||||||
TOTAL U.S. GOVERNMENT AGENCIES (COST $313,256,879) | $ | 273,492,587 | ||||||||||||||
ASSET BACKED SECURITIES - 4.2% | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
Ahold Finance U.S.A., LLC | 8.620 | % | 01/02/25 | $ | 207,743 | $ | 214,449 | |||||||||
Beacon Container Finance II, LLC (a) | 2.250 | % | 10/22/46 | 944,667 | 821,280 | |||||||||||
Cards II Trust (a) | 0.602 | % | 04/15/27 | 2,250,000 | 2,115,739 | |||||||||||
CLI Funding, LLC (a) | 2.720 | % | 01/18/47 | 1,261,789 | 1,090,117 | |||||||||||
DB Master Finance, LLC (a) | 2.493 | % | 11/20/51 | 2,009,813 | 1,660,141 | |||||||||||
Domino's Pizza Master Issuer, LLC (a) | 4.474 | % | 10/25/45 | 1,413,750 | 1,351,980 | |||||||||||
Iowa Student Loan Liquidity Corp. Rev. | 1.730 | % | 08/25/70 | 1,246,672 | 1,089,111 | |||||||||||
Master Credit Card Trust II (a) | 1.990 | % | 09/21/24 | 4,000,000 | 3,953,620 | |||||||||||
SBA Tower Trust (a) | 3.448 | % | 03/15/48 | 1,250,000 | 1,238,504 | |||||||||||
SBA Tower Trust (a) | 2.836 | % | 01/15/50 | 282,000 | 263,898 | |||||||||||
SolarCity LMC, Series I, LLC (a)(f) | 4.800 | % | 12/20/26 | 310,478 | 307,812 | |||||||||||
Tesla Auto Lease Trust | 0.600 | % | 09/22/25 | 1,200,000 | 1,125,247 | |||||||||||
Textainer Marine Containers VII Ltd. (a) | 1.680 | % | 02/20/46 | 1,310,000 | 1,115,490 | |||||||||||
TIF Funding II, LLC (a) | 1.650 | % | 02/20/46 | 435,417 | 360,256 | |||||||||||
Toyota Auto Receivables Owner Trust | 0.260 | % | 11/17/25 | 3,000,000 | 2,871,894 | |||||||||||
Tribute Rail, LLC (a) | 4.760 | % | 05/17/52 | 1,982,196 | 1,890,232 | |||||||||||
Triton Container Finance VIII, LLC (a) | 1.860 | % | 03/20/46 | 1,526,875 | 1,281,574 | |||||||||||
Triumph Rail, LLC (a) | 2.150 | % | 06/19/51 | 1,933,158 | 1,663,765 | |||||||||||
Vantage Data Centers Issuer, LLC (a) | 2.165 | % | 10/15/46 | 2,000,000 | 1,735,794 | |||||||||||
Wendy's Funding, LLC (a) | 3.783 | % | 06/15/49 | 684,375 | 629,025 | |||||||||||
TOTAL ASSET BACKED SECURITIES (COST $29,301,495) | $ | 26,779,928 | ||||||||||||||
MONEY MARKET FUNDS - 1.8% | Shares | Fair Value | ||||||||||||||
First American Government Obligations Fund - Class X, 2.77% (g) (COST $11,574,915) | 11,574,915 | $ | 11,574,915 |
Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
INVESTMENT PURCHASED WITH THE CASH PROCEEDS FROM SECURITIES LENDING - 2.6% | Shares | Fair Value | ||||||||||||||
Mount Vernon Liquid Assets Portfolio, LLC, 3.16% (g)(h) (COST $16,949,919) | 16,949,919 | $ | 16,949,919 | |||||||||||||
INVESTMENT COMPANIES - 0.5% | Shares | Fair Value | ||||||||||||||
Pax High Yield Bond Fund - Institutional Class (COST $4,199,236) | 530,984 | $ | 2,957,580 | |||||||||||||
TOTAL INVESTMENTS - (COST $745,028,730) - 101.9% | $ | 652,793,386 | ||||||||||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (1.9%) | (11,989,794 | ) | ||||||||||||||
NET ASSETS - 100.0% | $ | 640,803,592 |
(a) | 144a security may only be resold to qualified institutional investors. These securities were deemed liquid under guidelines established by the Board of Trustees. At September 30, 2022, these securities were valued at $83,319,267 or 13.0% of net assets. |
(b) | All or a portion of the security is on loan. The total fair value of the securities on loan as of September 30, 2022 was $16,486,848. |
(c) | Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of September 30, 2022. For securities based on a published reference rate and spread, the reference rate and spread (in basis points) are indicated parenthetically. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities, therefore, do not indicate a reference rate and spread. |
(d) | Restricted and illiquid securities not registered under the Securities Act of 1933 are as follows: |
Acquisition Date | Current Cost | Fair Value | % of Net Assets | |||||||||||
Calvert Social Investment Foundation, Inc. 0.400%, 12/15/22 | 12/15/21 | $ | 500,000 | $ | 495,743 | 0.1 | % | |||||||
Calvert Social Investment Foundation, Inc. 3.000%, 06/15/23 | 06/18/18 | 1,650,000 | 1,622,460 | 0.3 | % | |||||||||
Calvert Social Investment Foundation, Inc. 3.000%, 12/15/23 | 12/17/18 | 950,000 | 922,785 | 0.1 | % | |||||||||
Calvert Social Investment Foundation, Inc. 1.000%, 06/14/24 | 06/15/21 | 550,000 | 511,095 | 0.1 | % | |||||||||
Calvert Social Investment Foundation, Inc. 3.000%, 06/17/24 | 06/17/19 | 980,000 | 941,433 | 0.1 | % | |||||||||
Calvert Social Investment Foundation, Inc. 3.000%, 12/15/24 | 12/12/19 | 400,000 | 380,333 | 0.1 | % | |||||||||
Calvert Social Investment Foundation, Inc. 2.500%, 06/13/25 | 06/12/20 | 1,400,000 | 1,301,087 | 0.2 | % | |||||||||
Calvert Social Investment Foundation, Inc. 2.500%, 12/15/25 | 12/15/20 | 650,000 | 597,335 | 0.1 | % | |||||||||
$ | 7,080,000 | $ | 6,772,271 | 1.1 | % |
(e) | Percentage rounds to less than 0.1%. |
(f) | Security value has been determined in good faith pursuant to procedures adopted by the Board of Trustees. The total fair value of such securities was $307,812 as of September 30, 2022, representing 0.0% (e) of net assets. |
(g) | The rate shown is the 7-day effective yield as of September 30, 2022. |
(h) | The security was purchased with cash collateral received from securities on loan. |
GMTN – Global Medium-Term Note
H15T1Y – U.S. Treasury yield curve rate for U.S. Treasury note with a constant maturity of 1 year
LIBOR – London Interbank Offered Rate
plc – Public Liability Company
PO – Principal Only security with a redemption price above par
SOFR - Secured Overnight Financing Rate
Schedule of Portfolio Investments
Praxis International Index Fund
September 30, 2022 (Unaudited)
COMMON STOCKS - 97.7% | Shares | Fair Value | ||||||
AUSTRALIA - 4.4% | ||||||||
ASX Ltd. | 3,087 | $ | 142,061 | |||||
Australia & New Zealand Banking Group Ltd. | 40,646 | 594,954 | ||||||
Brambles Ltd. | 84,413 | 617,462 | ||||||
Coles Group Ltd. | 20,682 | 218,017 | ||||||
Commonwealth Bank of Australia | 19,560 | 1,137,797 | ||||||
Computershare Ltd. | 20,272 | 323,310 | ||||||
CSL Ltd. - ADR | 7,282 | 664,446 | ||||||
CSL Ltd. | 3,640 | 661,935 | ||||||
Dexus | 158,141 | 786,608 | ||||||
Fortescue Metals Group Ltd. | 63,440 | 680,988 | ||||||
Goodman Group | 44,189 | 446,569 | ||||||
GPT Group (The) | 86,547 | 212,987 | ||||||
Lendlease Group | 22,661 | 129,544 | ||||||
Macquarie Group Ltd. - ADR | 2,747 | 275,524 | ||||||
Macquarie Group Ltd. | 2,144 | 209,150 | ||||||
Mirvac Group | 157,601 | 196,306 | ||||||
National Australia Bank Ltd. | 36,653 | 678,592 | ||||||
Origin Energy Ltd. | 41,376 | 137,272 | ||||||
REA Group Ltd. | 6,602 | 480,491 | ||||||
Scentre Group | 175,279 | 286,358 | ||||||
SEEK Ltd. | 49,532 | 601,944 | ||||||
Sonic Healthcare Ltd. | 7,195 | 140,327 | ||||||
South32 Ltd. | 255,820 | 607,237 | ||||||
Stockland | 68,242 | 142,805 | ||||||
Transurban Group | 200,755 | 1,585,299 | ||||||
Vicinity Centres | 397,679 | 443,364 | ||||||
Wesfarmers Ltd. | 32,429 | 886,479 | ||||||
Woolworths Group Ltd. | 28,598 | 621,395 | ||||||
13,909,221 | ||||||||
AUSTRIA - 0.2% | ||||||||
Verbund AG | 6,899 | 588,936 | ||||||
BELGIUM - 0.8% | ||||||||
Elia System Operator S.A./N.V. | 4,015 | 472,383 | ||||||
Groupe Bruxelles Lambert N.V. | 6,989 | 488,708 |
Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 97.7% (Continued) | Shares | Fair Value | ||||||
BELGIUM - 0.8% (Continued) | ||||||||
KBC Group N.V. - ADR | 1,592 | $ | 37,316 | |||||
KBC Group N.V. | 15,375 | 729,502 | ||||||
UCB S.A. | 7,663 | 531,721 | ||||||
Umicore S.A. | 3,663 | 107,521 | ||||||
2,367,151 | ||||||||
BERMUDA - 0.6% | ||||||||
China Gas Holdings Ltd. | 115,000 | 137,546 | ||||||
Credicorp Ltd. | 7,803 | 958,209 | ||||||
Hongkong Land Holdings Ltd. | 35,400 | 155,548 | ||||||
Shenzhen International Holdings Ltd. | 799,000 | 609,062 | ||||||
1,860,365 | ||||||||
BRAZIL - 1.7% | ||||||||
Banco Bradesco S.A. - ADR (a) | 268,213 | 987,024 | ||||||
Banco do Brasil S.A. - ADR (a) | 98,038 | 706,854 | ||||||
Banco Santander Brasil S.A. - ADR | 143,531 | 809,515 | ||||||
BRF S.A. - ADR (a)(b) | 58,854 | 137,718 | ||||||
Cia Energética de Minas Gerais - ADR (a) | 281,777 | 569,189 | ||||||
Gerdau S.A. - ADR | 79,331 | 358,576 | ||||||
Getnet Adquirencia e Servicos para Meios de Pagamento S.A. - ADR | 7,516 | 13,003 | ||||||
Sendas Distribuidora S.A. - ADR | 17,197 | 277,388 | ||||||
Suzano S.A. - ADR | 78,845 | 650,471 | ||||||
Telefónica Brasil S.A. - ADR | 91,332 | 686,817 | ||||||
TIM S.A. - ADR (a) | 24,867 | 278,013 | ||||||
5,474,568 | ||||||||
CANADA - 8.5% | ||||||||
Bank of Montreal (a) | 20,716 | 1,815,550 | ||||||
Bank of Nova Scotia (The) (a) | 27,062 | 1,287,339 | ||||||
BCE, Inc. | 11,273 | 472,790 | ||||||
Cameco Corp. | 22,596 | 599,020 | ||||||
Canadian Imperial Bank of Commerce (a) | 27,136 | 1,187,471 | ||||||
Canadian National Railway Co. | 15,841 | 1,710,670 | ||||||
Canadian Pacific Railway Ltd. (a) | 19,191 | 1,280,423 | ||||||
CGI, Inc. (b) | 8,100 | 609,444 | ||||||
Franco-Nevada Corp. | 15,923 | 1,902,480 | ||||||
Gildan Activewear, Inc. | 18,362 | 519,094 |
Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 97.7% (Continued) | Shares | Fair Value | ||||||
CANADA - 8.5% (Continued) | ||||||||
Magna International, Inc. (a) | 2,707 | $ | 128,366 | |||||
Manulife Financial Corp. (a) | 76,580 | 1,200,009 | ||||||
Methanex Corp. | 15,712 | 500,741 | ||||||
Nutrien Ltd. (a) | 13,124 | 1,094,279 | ||||||
Open Text Corp. | 11,725 | 310,009 | ||||||
Restaurant Brands International, Inc. | 11,589 | 616,303 | ||||||
Ritchie Bros. Auctioneers, Inc. | 2,472 | 154,451 | ||||||
Royal Bank of Canada (a) | 32,068 | 2,887,403 | ||||||
Sun Life Financial, Inc. | 39,338 | 1,564,079 | ||||||
Teck Resources Ltd. - Class B | 53,368 | 1,622,921 | ||||||
Thomson Reuters Corp. | 20,428 | 2,096,321 | ||||||
Toronto-Dominion Bank (The) (a) | 26,902 | 1,649,900 | ||||||
Wheaton Precious Metals Corp. | 40,117 | 1,298,186 | ||||||
26,507,249 | ||||||||
CAYMAN ISLANDS - 5.0% | ||||||||
Alibaba Group Holding Ltd. - ADR (a)(b) | 30,148 | 2,411,539 | ||||||
Autohome, Inc. - ADR | 2,537 | 72,964 | ||||||
Baidu, Inc. - ADR (a)(b) | 4,552 | 534,815 | ||||||
China Literature Ltd. (b) | 83,000 | 233,422 | ||||||
China Mengniu Dairy Co. Ltd. (b) | 98,000 | 387,403 | ||||||
ENN Energy Holdings Ltd. | 31,800 | 423,994 | ||||||
GDS Holdings Ltd. - ADR (a)(b) | 6,020 | 106,313 | ||||||
Genscript Biotech Corp. (b) | 112,000 | 242,452 | ||||||
H World Group Ltd. - ADR | 6,096 | 204,460 | ||||||
Hengan International Group Co. Ltd. | 99,000 | 442,610 | ||||||
JD.com, Inc. - ADR | 11,792 | 593,138 | ||||||
KE Holdings, Inc. (b) | 7,107 | 124,515 | ||||||
Kingdee International Software Group Co. Ltd. (b) | 100,000 | 130,335 | ||||||
Li Auto, Inc. - Class A (b) | 14,389 | 331,091 | ||||||
Meituan - ADR (b) | 34,299 | 1,445,703 | ||||||
NetEase, Inc. - ADR | 11,960 | 904,176 | ||||||
NIO, Inc. - ADR (b) | 28,907 | 455,863 | ||||||
Shenzhou International Group Holdings Ltd. | 48,000 | 370,634 | ||||||
Sunny Optical Technology Group Co. Ltd. | 19,200 | 182,469 | ||||||
Tencent Holdings Ltd. - ADR (a) | 101,986 | 3,449,167 | ||||||
Tingyi Cayman Islands Holding Corp. | 276,000 | 475,302 |
Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 97.7% (Continued) | Shares | Fair Value | ||||||
CAYMAN ISLANDS - 5.0% (Continued) | ||||||||
Trip.com Group Ltd. - ADR (a)(b) | 22,788 | $ | 622,340 | |||||
Vipshop Holdings Ltd. - ADR (b) | 21,137 | 177,762 | ||||||
VNET Group, Inc. - ADR (a)(b) | 23,314 | 128,227 | ||||||
WuXi Biologics Cayman, Inc. (b) | 122,072 | 726,674 | ||||||
Xinyi Solar Holdings Ltd. | 100,000 | 105,013 | ||||||
ZTO Express Cayman, Inc. - ADR (a) | 19,738 | 474,304 | ||||||
15,756,685 | ||||||||
CHILE - 0.3% | ||||||||
Sociedad Quimica y Minera de Chile S.A. - ADR | 10,226 | 928,009 | ||||||
CHINA - 2.9% | ||||||||
Agricultural Bank of China Ltd. - H Shares | 1,583,000 | 473,783 | ||||||
ANTA Sports Products Ltd. | 50,400 | 529,037 | ||||||
Bank of China Ltd. - H Shares | 1,903,000 | 621,509 | ||||||
BYD Co. Ltd. - H Shares | 23,000 | 566,617 | ||||||
China Life Insurance Co. Ltd. - H Shares | 376,000 | 481,065 | ||||||
China Merchants Bank Co. Ltd. - H Shares | 66,820 | 309,233 | ||||||
China Minsheng Banking Corp. Ltd. - H Shares | 456,500 | 130,535 | ||||||
China Pacific Insurance Group Co. Ltd. - H Shares | 100,200 | 184,004 | ||||||
China Resources Land Ltd. | 134,000 | 524,862 | ||||||
China Vanke Co. Ltd. - H Shares | 168,574 | 305,078 | ||||||
COSCO SHIPPING Holdings Co. Ltd. - H Shares | 87,500 | 101,777 | ||||||
Haier Smart Home Co. Ltd. - H Shares | 241,230 | 734,056 | ||||||
Huatai Securities Co. Ltd. - H Shares | 117,400 | 128,753 | ||||||
Industrial & Commercial Bank of China Ltd. - H Shares | 1,118,000 | 524,459 | ||||||
Jiangsu Expressway Co. Ltd. - H Shares | 720,000 | 540,556 | ||||||
New World Development Co. Ltd. | 72,768 | 206,667 | ||||||
PICC Property & Casualty Co. Ltd. - H Shares | 146,000 | 150,976 | ||||||
Ping An Insurance Group Co. of China Ltd. - H Shares | 256,818 | 1,281,209 | ||||||
Sinopharm Group Co. Ltd. - H Shares | 427,200 | 852,598 | ||||||
TravelSky Technology Ltd. - H Shares | 217,000 | 332,134 | ||||||
8,978,908 | ||||||||
COLOMBIA - 0.3% | ||||||||
Bancolombia S.A. - ADR | 32,931 | 802,528 |
Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 97.7% (Continued) | Shares | Fair Value | ||||||
DENMARK - 1.7% | ||||||||
A.P. Moller-Maersk A/S - Series B | 67 | $ | 121,747 | |||||
Chr. Hansen Holding A/S | 1,812 | 89,253 | ||||||
Coloplast A/S - Series B | 2,036 | 206,895 | ||||||
DSV A/S | 4,551 | 533,107 | ||||||
Genmab A/S (b) | 932 | 299,811 | ||||||
Novo Nordisk A/S - ADR | 29,898 | 2,978,738 | ||||||
Novozymes A/S - Class B | 3,368 | 169,239 | ||||||
Orsted A/S | 4,694 | 374,094 | ||||||
Pandora A/S | 1,085 | 50,738 | ||||||
Vestas Wind Systems A/S | 21,015 | 386,924 | ||||||
5,210,546 | ||||||||
FINLAND - 0.7% | ||||||||
Neste OYJ | 20,268 | 883,347 | ||||||
Nokia Corp. - ADR | 120,955 | 516,478 | ||||||
Sampo plc - A Shares | 3,751 | 160,114 | ||||||
Stora Enso OYJ - R Shares | 11,015 | 139,909 | ||||||
UPM-Kymmene OYJ | 20,395 | 647,133 | ||||||
2,346,981 | ||||||||
FRANCE - 6.0% | ||||||||
Accor S.A. (b) | 11,801 | 247,026 | ||||||
Aeroports de Paris (b) | 1,860 | 214,912 | ||||||
Air Liquide S.A. - ADR | 1,327 | 30,149 | ||||||
Air Liquide S.A. | 9,728 | 1,111,745 | ||||||
Alstom S.A. - ADR | 41,500 | 65,570 | ||||||
Alstom S.A. | 10,037 | 162,333 | ||||||
Arkema S.A. | 1,887 | 137,503 | ||||||
AXA S.A. | 33,469 | 730,623 | ||||||
BNP Paribas S.A. | 3,140 | 132,613 | ||||||
Bollore SE | 82,440 | 378,186 | ||||||
Bureau Veritas S.A. | 6,434 | 143,957 | ||||||
Capgemini SE - ADR | 6,425 | 205,729 | ||||||
Capgemini SE | 5,024 | 804,232 | ||||||
Carrefour S.A. | 14,741 | 204,415 | ||||||
Cie Generale des Etablissements Michelin SCA - ADR | 28,976 | 322,068 | ||||||
Cie Generale des Etablissements Michelin SCA | 18,076 | 404,948 | ||||||
Covivio | 5,514 | 265,592 |
Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 97.7% (Continued) | Shares | Fair Value | ||||||
FRANCE - 6.0% (Continued) | ||||||||
Danone S.A. - ADR | 54,195 | $ | 510,246 | |||||
Danone S.A. | 6,488 | 306,744 | ||||||
Dassault Systemes SE - ADR | 3,725 | 128,475 | ||||||
Dassault Systemes SE | 9,814 | 338,781 | ||||||
EssilorLuxottica S.A. | 4,430 | 602,053 | ||||||
Eurofins Scientific SE | 2,307 | 136,934 | ||||||
Getlink SE | 77,043 | 1,194,564 | ||||||
Henkel AG & Co. KGaA | 4,390 | 248,760 | ||||||
Hermes International | 830 | 976,042 | ||||||
Kering S.A. | 1,685 | 747,274 | ||||||
Klepierre S.A. (b) | 22,849 | 397,180 | ||||||
Legrand S.A. | 10,029 | 648,375 | ||||||
L'Oreal S.A. - ADR | 21,745 | 1,385,809 | ||||||
L'Oreal S.A. | 1,380 | 441,182 | ||||||
Publicis Groupe S.A. (b) | 12,555 | 594,806 | ||||||
Sartorius Sedim Biotech | 1,319 | 404,529 | ||||||
Schneider Electric SE | 10,419 | 1,176,668 | ||||||
Societe Generale S.A. | 23,503 | 464,732 | ||||||
Solvay S.A. | 809 | 62,626 | ||||||
Teleperformance | 1,454 | 368,804 | ||||||
Unibail-Rodamco-Westfield (b) | 6,388 | 264,298 | ||||||
Unibail-Rodamco-Westfield - CDI (b) | 45,646 | 89,050 | ||||||
Valeo | 28,541 | 431,190 | ||||||
Veolia Environnement S.A. | 6,731 | 128,626 | ||||||
Vivendi SE - ADR | 13,553 | 104,223 | ||||||
Vivendi SE | 21,180 | 164,261 | ||||||
Wendel SE | 8,457 | 605,225 | ||||||
Worldline S.A. (b) | 11,073 | 437,607 | ||||||
18,920,665 | ||||||||
GERMANY - 3.5% | ||||||||
adidas AG - ADR | 2,402 | 137,899 | ||||||
adidas AG | 1,323 | 152,072 | ||||||
Allianz SE - ADR | 76,050 | 1,187,140 | ||||||
Allianz SE | 239 | 37,645 | ||||||
BASF SE | 3,729 | 143,093 | ||||||
Bayerische Motoren Werke AG - ADR | 2 | 45 |
Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 97.7% (Continued) | Shares | Fair Value | ||||||
GERMANY - 3.5% (Continued) | ||||||||
Bayerische Motoren Werke AG | 2,092 | $ | 141,771 | |||||
Brenntag AG | 6,380 | 385,629 | ||||||
Commerzbank AG (b) | 24,099 | 171,537 | ||||||
Continental AG - ADR | 7,120 | 31,399 | ||||||
Continental AG | 6,571 | 291,536 | ||||||
Daimler Truck Holding AG (b) | 9,334 | 210,988 | ||||||
Deutsche Boerse AG | 5,965 | 977,685 | ||||||
Deutsche Post AG - ADR | 14,832 | 445,850 | ||||||
Deutsche Post AG | 10,161 | 306,206 | ||||||
Deutsche Telekom AG - ADR | 30,009 | 511,954 | ||||||
Deutsche Telekom AG | 25,629 | 436,187 | ||||||
Fraport AG Frankfurt Airport Services Worldwide (b) | 1,961 | 70,505 | ||||||
Fresenius Medical Care AG & Co. | 4,696 | 132,282 | ||||||
Hannover Rueck SE | 1,159 | 173,716 | ||||||
Infineon Technologies AG - ADR | 12,109 | 265,914 | ||||||
Mercedes-Benz Group AG | 18,669 | 943,903 | ||||||
Merck KGaA | 2,309 | 373,730 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG - ADR | 18,890 | 455,249 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG | 1,787 | 430,107 | ||||||
RWE AG | 13,344 | 490,403 | ||||||
Sartorius AG | 918 | 317,495 | ||||||
Siemens AG | 5,494 | 536,924 | ||||||
Telefonica Deutschland Holding AG | 166,204 | 335,987 | ||||||
Vitesco Technologies Group AG (b) | 1 | 49 | ||||||
Vonovia SE | 32,704 | 705,711 | ||||||
Zalando SE (b) | 6,837 | 133,528 | ||||||
10,934,139 | ||||||||
HONG KONG - 2.2% | ||||||||
AAC Technologies Holdings, Inc. (b) | 92,000 | 142,988 | ||||||
AIA Group Ltd. - ADR | 44,918 | 1,485,887 | ||||||
AIA Group Ltd. | 57,569 | 479,313 | ||||||
BYD Electronic International Co. Ltd. | 86,500 | 206,704 | ||||||
Geely Automobile Holdings Ltd. | 93,000 | 127,269 | ||||||
Hang Seng Bank Ltd. | 16,100 | 244,599 | ||||||
Hong Kong Exchanges & Clearing Ltd. | 26,978 | 922,171 | ||||||
Lenovo Group Ltd. | 562,000 | 388,732 | ||||||
Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 97.7% (Continued) | Shares | Fair Value | ||||||
HONG KONG - 2.2% (Continued) | ||||||||
Link REIT | 95,500 | $ | 666,637 | |||||
Minth Group Ltd. | 64,000 | 140,544 | ||||||
New China Life Insurance Co. Ltd. - H Shares | 87,400 | 166,450 | ||||||
Shandong Weigao Group Medical Polymer Co. Ltd. - H Shares | 132,000 | 176,834 | ||||||
Sino Land Co. Ltd. | 144,000 | 189,407 | ||||||
Swire Properties Ltd. | 206,350 | 443,914 | ||||||
Techtronic Industries Co. Ltd. | 24,500 | 233,781 | ||||||
Wharf Holdings Ltd. (The) | 166,000 | 530,869 | ||||||
Zhongsheng Group Holdings Ltd. | 86,000 | 341,018 | ||||||
6,887,117 | ||||||||
INDIA - 4.1% | ||||||||
HDFC Bank Ltd. - ADR | 30,589 | 1,787,009 | ||||||
ICICI Bank Ltd. - ADR | 216,049 | 4,530,548 | ||||||
Infosys Ltd. - ADR (a) | 225,391 | 3,824,885 | ||||||
Wipro Ltd. - ADR | 577,008 | 2,717,708 | ||||||
12,860,150 | ||||||||
INDONESIA - 0.8% | ||||||||
Bank Mandiri Persero Tbk PT - ADR | 87,101 | 1,067,850 | ||||||
Telkom Indonesia Persero Tbk PT - ADR | 50,040 | 1,443,654 | ||||||
2,511,504 | ||||||||
IRELAND - 0.4% | ||||||||
CRH plc - ADR (a) | 14,500 | 467,335 | ||||||
Kingspan Group plc | 2,206 | 99,377 | ||||||
Smurfit Kappa Group plc | 20,818 | 595,294 | ||||||
1,162,006 | ||||||||
ISRAEL - 0.6% | ||||||||
Check Point Software Technologies Ltd. (b) | 4,473 | 501,066 | ||||||
CyberArk Software Ltd. (b) | 2,299 | 344,712 | ||||||
ICL Group Ltd. | 84,780 | 693,500 | ||||||
Nice Ltd. - ADR (a)(b) | 2,630 | 495,071 | ||||||
2,034,349 | ||||||||
ITALY - 1.5% | ||||||||
Assicurazioni Generali S.p.A. | 24,438 | 333,637 | ||||||
Enel S.p.A. | 63,194 | 259,136 | ||||||
Intesa Sanpaolo S.p.A. - ADR | 9,135 | 90,254 | ||||||
Intesa Sanpaolo S.p.A. | 276,901 | 457,657 |
Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 97.7% (Continued) | Shares | Fair Value | ||||||
ITALY - 1.5% (Continued) | ||||||||
Mediobanca Banca di Credito Finanziario S.p.A. | 49,451 | $ | 386,886 | |||||
Moncler S.p.A. | 7,061 | 288,221 | ||||||
Poste Italiane S.p.A. | 93,753 | 708,205 | ||||||
Telecom Italia S.p.A. | 591,414 | 109,377 | ||||||
Terna - Rete Elettrica Nazionale S.p.A. | 227,512 | 1,385,473 | ||||||
UniCredit S.p.A. | 52,597 | 532,422 | ||||||
4,551,268 | ||||||||
JAPAN - 14.5% | ||||||||
Advantest Corp. | 4,800 | 221,667 | ||||||
Aeon Co. Ltd. | 7,900 | 147,521 | ||||||
AGC, Inc. | 10,000 | 311,319 | ||||||
Asahi Intecc Co. Ltd. | 11,100 | 177,026 | ||||||
Asahi Kasei Corp. | 50,000 | 331,366 | ||||||
Astellas Pharma, Inc. | 34,300 | 454,382 | ||||||
Azbil Corp. | 10,400 | 271,098 | ||||||
Bandai Namco Holdings, Inc. | 6,200 | 404,043 | ||||||
Bridgestone Corp. | 33,456 | 1,081,998 | ||||||
Brothers Industries Ltd. | 13,900 | 240,144 | ||||||
Canon, Inc. - ADR | 9,876 | 215,297 | ||||||
Canon, Inc. | 22,800 | 498,010 | ||||||
Chiba Bank Ltd. (The) | 28,700 | 155,420 | ||||||
CyberAgent, Inc. | 13,700 | 115,356 | ||||||
Dai Nippon Printing Co. Ltd. | 61,318 | 1,228,459 | ||||||
Dai-ichi Life Holdings, Inc. | 16,346 | 259,907 | ||||||
Daiichi Sankyo Co. Ltd. - ADR | 5,703 | 160,026 | ||||||
Daiichi Sankyo Co. Ltd. | 23,430 | 654,889 | ||||||
Daiwa House Industry Co. Ltd. | 30,000 | 609,978 | ||||||
Denso Corp. | 10,000 | 457,232 | ||||||
Dentsu Group, Inc. | 4,300 | 122,238 | ||||||
ENEOS Holdings, Inc. | 167,700 | 540,858 | ||||||
FANUC Corp. - ADR | 10,090 | 141,260 | ||||||
FANUC Corp. | 800 | 112,332 | ||||||
Fast Retailing Co. Ltd. - ADR | 1,220 | 64,721 | ||||||
Fast Retailing Co. Ltd. | 1,200 | 635,933 | ||||||
FUJIFILM Holdings Corp. - ADR | 8,601 | 391,604 | ||||||
FUJIFILM Holdings Corp. | 1,500 | 68,512 |
Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 97.7% (Continued) | Shares | Fair Value | ||||||
JAPAN - 14.5% (Continued) | ||||||||
Fujitsu Ltd. | 4,868 | $ | 533,786 | |||||
Hitachi Construction Machinery Co. Ltd. | 7,800 | 144,961 | ||||||
Honda Motor Co. Ltd. | 7,800 | 169,305 | ||||||
Hoya Corp. - ADR | 1,273 | 122,554 | ||||||
Hoya Corp. | 6,861 | 661,116 | ||||||
Ibiden Co. Ltd. | 4,600 | 125,758 | ||||||
Idemitsu Kosan Co. Ltd. | 13,300 | 289,052 | ||||||
Japan Exchange Group, Inc. | 20,800 | 281,113 | ||||||
Kao Corp. | 29,400 | 1,196,297 | ||||||
KDDI Corp. - ADR | 43,814 | 642,313 | ||||||
Keyence Corp. | 3,600 | 1,190,018 | ||||||
Kintetsu Group Holdings Co. Ltd. | 10,728 | 357,175 | ||||||
Kubota Corp. - ADR | 7,274 | 506,270 | ||||||
Kubota Corp. | 24,000 | 333,526 | ||||||
Lixil Corp. | 15,100 | 221,559 | ||||||
Mitsubishi Corp. | 44,800 | 1,225,290 | ||||||
Mitsubishi Estate Co. Ltd. | 14,300 | 188,419 | ||||||
Mitsubishi UFJ Financial Group, Inc. - ADR | 25,008 | 112,536 | ||||||
Mitsubishi UFJ Financial Group, Inc. | 317,209 | 1,436,997 | ||||||
Mitsui & Co. Ltd. - ADR | 1,350 | 579,785 | ||||||
Mitsui & Co. Ltd. | 49,190 | 1,046,752 | ||||||
Mitsui Chemicals, Inc. | 7,100 | 138,392 | ||||||
Mitsui OSK Lines Ltd. | 21,700 | 388,269 | ||||||
Mizuho Financial Group, Inc. | 65,200 | 705,766 | ||||||
Murata Manufacturing Co. Ltd. - ADR | 916 | 10,525 | ||||||
Murata Manufacturing Co. Ltd. | 12,900 | 593,751 | ||||||
Nexon Co. Ltd. | 13,700 | 242,048 | ||||||
Nidec Corp. - ADR (a) | 34,780 | 486,572 | ||||||
Nintendo Co. Ltd. - ADR | 14,840 | 756,395 | ||||||
Nintendo Co. Ltd. | 3,000 | 121,003 | ||||||
Nippon Building Fund, Inc. | 33 | 145,216 | ||||||
Nippon Prologis REIT, Inc. | 175 | 383,673 | ||||||
Nippon Sanso Holdings Corp. | 9,300 | 147,005 | ||||||
Nippon Telegraph & Telephone Corp. | 5,200 | 140,256 | ||||||
Nippon Yusen KK | 13,800 | 234,239 | ||||||
Nitori Holdings Co. Ltd. | 1,100 | 92,312 |
Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 97.7% (Continued) | Shares | Fair Value | ||||||
JAPAN - 14.5% (Continued) | ||||||||
Nomura Holdings, Inc. - ADR (a) | 47,702 | $ | 157,417 | |||||
Nomura Real Estate Holdings, Inc. | 6,900 | 155,831 | ||||||
Nomura Research Institute Ltd. | 16,000 | 390,772 | ||||||
Odakyu Electric Railway Co. Ltd. | 10,400 | 134,005 | ||||||
Olympus Corp. | 16,400 | 315,499 | ||||||
Omron Corp. | 2,900 | 132,870 | ||||||
Ono Pharmaceutical Co. Ltd. | 6,900 | 161,175 | ||||||
Oriental Land Co. Ltd. | 4,160 | 564,216 | ||||||
ORIX Corp. | 16,800 | 235,352 | ||||||
Pan Pacific International Holdings Corp. | 10,900 | 192,285 | ||||||
Persol Holdings Co. Ltd. | 8,000 | 147,988 | ||||||
Pinduoduo, Inc. - ADR (b) | 8,211 | 513,844 | ||||||
Recruit Holdings Co. Ltd. | 28,250 | 813,760 | ||||||
Resona Holdings, Inc. | 45,300 | 165,774 | ||||||
Ricoh Co. Ltd. | 25,500 | 186,716 | ||||||
Secom Co. Ltd. | 2,700 | 153,952 | ||||||
Seiko Epson Corp. | 30,300 | 413,730 | ||||||
Sekisui House Ltd. - ADR | 21,690 | 359,403 | ||||||
Sekisui House Ltd. | 8,000 | 132,498 | ||||||
Seven & i Holdings Co. Ltd. | 18,900 | 759,214 | ||||||
Sharp Corp. | 20,600 | 122,834 | ||||||
Shimadzu Corp. | 17,000 | 446,017 | ||||||
Shimano, Inc. | 2,084 | 326,073 | ||||||
Shin-Etsu Chemical Co. Ltd. | 3,400 | 336,453 | ||||||
Shionogi & Co. Ltd. | 3,400 | 164,200 | ||||||
Shiseido Co. Ltd. - ADR | 7,565 | 265,607 | ||||||
Shiseido Co. Ltd. | 2,100 | 73,599 | ||||||
SoftBank Corp. | 33,205 | 331,583 | ||||||
SoftBank Group Corp. - ADR | 12,750 | 214,965 | ||||||
SoftBank Group Corp. | 13,000 | 440,585 | ||||||
Sony Group Corp. - ADR | 23,139 | 1,482,053 | ||||||
Sony Group Corp. | 2,000 | 128,829 | ||||||
Sumitomo Corp. | 23,254 | 287,289 | ||||||
Sumitomo Metal Mining Co. Ltd. | 8,000 | 229,252 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. | 19,600 | 557,418 | ||||||
Suntory Beverage & Food Ltd. | 7,600 | 270,478 |
Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 97.7% (Continued) | Shares | Fair Value | ||||||
JAPAN - 14.5% (Continued) | ||||||||
Takeda Pharmaceutical Co. Ltd. - ADR (a) | 17,704 | $ | 229,621 | |||||
Takeda Pharmaceutical Co. Ltd. | 26,800 | 695,937 | ||||||
TDK Corp. | 11,700 | 361,183 | ||||||
Terumo Corp. | 10,972 | 308,425 | ||||||
Toho Co. Ltd. | 4,100 | 149,087 | ||||||
Tokyo Electron Ltd. - ADR | 1,464 | 90,578 | ||||||
Tokyo Electron Ltd. | 1,900 | 468,150 | ||||||
Toppan, Inc. | 55,900 | 832,690 | ||||||
Toray Industries, Inc. | 50,000 | 246,092 | ||||||
TOTO Ltd. | 5,000 | 166,968 | ||||||
Toyota Motor Corp. - ADR (a) | 12,112 | 1,578,073 | ||||||
USS Co. Ltd. | 31,120 | 480,621 | ||||||
Yamaha Corp. | 18,800 | 668,046 | ||||||
Yamaha Motor Co. Ltd. | 31,100 | 582,688 | ||||||
Yokogawa Electric Corp. | 36,800 | 579,753 | ||||||
Z Holdings Corp. | 54,000 | 143,136 | ||||||
45,367,184 | ||||||||
JERSEY - 0.8% | ||||||||
Experian plc - ADR | 11,145 | 326,103 | ||||||
Ferguson plc | 508 | 52,702 | ||||||
Ferguson plc | 5,680 | 584,642 | ||||||
Glencore plc | 248,450 | 1,305,792 | ||||||
WPP plc - ADR | 1,188 | 48,934 | ||||||
WPP plc | 34,966 | 288,692 | ||||||
2,606,865 | ||||||||
LUXEMBOURG - 0.0% (c) | ||||||||
Aroundtown S.A. | 34,293 | 75,081 | ||||||
MEXICO - 1.0% | ||||||||
Fomento Economico Mexicano S.A.B. de C.V. - ADR | 12,776 | 801,694 | ||||||
Grupo Aeroportuario del Pacifico S.A.B. de C.V. - ADR | 2,661 | 337,361 | ||||||
Grupo Aeroportuario del Sureste S.A.B. de C.V. - ADR | 3,153 | 618,524 | ||||||
Grupo Televisa S.A.B. - ADR | 39,194 | 210,864 | ||||||
Wal-Mart de Mexico S.A.B. de C.V. - ADR (a) | 32,608 | 1,141,280 | ||||||
3,109,723 |
Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 97.7% (Continued) | Shares | Fair Value | ||||||
NETHERLANDS - 2.7% | ||||||||
Adyen N.V. (b) | 349 | $ | 435,198 | |||||
Aegon N.V. (a) | 48,989 | 193,996 | ||||||
Akzo Nobel N.V. - ADR | 9,200 | 174,616 | ||||||
Argenx SE - ADR (b) | 1,002 | 353,756 | ||||||
ASML Holding N.V. - ADR (a) | 6,611 | 2,745,879 | ||||||
EXOR N.V. (b) | 3,298 | 211,615 | ||||||
ING Groep N.V. - ADR (a) | 40,673 | 345,721 | ||||||
ING Groep N.V. | 12,870 | 110,260 | ||||||
Koninklijke Ahold Delhaize N.V. - ADR | 24,466 | 622,415 | ||||||
Koninklijke Ahold Delhaize N.V. | 5,491 | 139,844 | ||||||
Koninklijke DSM N.V. | 2,622 | 298,317 | ||||||
NN Group N.V. | 10,306 | 400,784 | ||||||
OCI N.V. | 9,087 | 332,643 | ||||||
Prosus N.V. (b) | 13,725 | 713,965 | ||||||
QIAGEN N.V. (b) | 7,847 | 323,924 | ||||||
Randstad Holding N.V. | 3,477 | 150,049 | ||||||
Stellantis N.V. | 42,053 | 497,284 | ||||||
STMicroelectronics N.V. - ADR (a) | 7,808 | 241,580 | ||||||
Wolters Kluwer N.V. | 1,707 | 166,193 | ||||||
8,458,039 | ||||||||
NORWAY - 2.3% | ||||||||
Aker BP ASA | 56,057 | 1,609,214 | ||||||
Equinor ASA - ADR (a) | 158,981 | 5,263,861 | ||||||
Norsk Hydro ASA | 79,990 | 429,254 | ||||||
7,302,329 | ||||||||
PORTUGAL - 0.5% | ||||||||
Galp Energia SGPS S.A. | 152,926 | 1,471,153 | ||||||
Jeronimo Martins SGPS S.A. | 8,104 | 150,903 | ||||||
1,622,056 | ||||||||
RUSSIA - 0.0% (c) | ||||||||
Mobile TeleSystems PJSC - ADR (d)(e) | 86,910 | 869 | ||||||
SINGAPORE - 1.8% | ||||||||
BOC Aviation Ltd. | 87,700 | 619,991 | ||||||
CapitaLand Ascendas REIT | 167,800 | 313,015 | ||||||
CapitaLand Integrated Commercial Trust | 522,925 | 695,611 |
Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 97.7% (Continued) | Shares | Fair Value | ||||||
SINGAPORE - 1.8% (Continued) | ||||||||
CapitaLand Investment Ltd. | 183,000 | $ | 440,289 | |||||
CDL Hospitality Trusts | 28,826 | 23,324 | ||||||
City Developments Ltd. | 203,900 | 1,074,616 | ||||||
DBS Group Holdings Ltd. - ADR | 11,392 | 1,055,070 | ||||||
Singapore Telecommunications Ltd. | 216,000 | 398,586 | ||||||
Venture Corp. Ltd. | 84,300 | 957,930 | ||||||
5,578,432 | ||||||||
SOUTH AFRICA - 1.1% | ||||||||
FirstRand Ltd. | 201,574 | 672,947 | ||||||
Gold Fields Ltd. - ADR (a) | 14,088 | 113,972 | ||||||
Impala Platinum Holdings Ltd. - ADR | 29,987 | 276,780 | ||||||
Mr Price Group Ltd. | 56,059 | 534,112 | ||||||
MTN Group Ltd. | 18,970 | 125,171 | ||||||
MultiChoice Group Ltd. | 72,496 | 463,201 | ||||||
Naspers Ltd. - Class N - ADR (a) | 32,275 | 800,420 | ||||||
Standard Bank Group Ltd. | 44,968 | 355,257 | ||||||
3,341,860 | ||||||||
SOUTH KOREA - 4.0% | ||||||||
Celltrion, Inc. | 4,101 | 493,861 | ||||||
Hyundai Mobis Co. Ltd. | 7,311 | 957,588 | ||||||
KB Financial Group, Inc. - ADR | 27,719 | 835,451 | ||||||
Korea Electric Power Corp. - ADR (b) | 13,750 | 93,500 | ||||||
KT Corp. - ADR (a) | 39,515 | 482,873 | ||||||
LG Display Co. Ltd. - ADR | 3 | 12 | ||||||
NAVER Corp. | 8,715 | 1,151,970 | ||||||
POSCO Holdings, Inc. - ADR (a) | 13,630 | 498,994 | ||||||
Samsung Electronics Co. Ltd. | 115,093 | 4,193,332 | ||||||
Shinhan Financial Group Co. Ltd. - ADR | 39,688 | 912,824 | ||||||
Shinhan Financial Group Co. Ltd. | 29,265 | 674,525 | ||||||
SK Hynix, Inc. | 15,952 | 905,377 | ||||||
SK Telecom Co. Ltd. - ADR (a) | 27,863 | 536,641 | ||||||
Woori Financial Group, Inc. - ADR | 34,279 | 765,107 | ||||||
12,502,055 | ||||||||
SPAIN - 1.8% | ||||||||
Aena SME S.A. (b) | 5,525 | 573,302 | ||||||
Amadeus IT Group S.A. (b) | 7,348 | 340,625 |
Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 97.7% (Continued) | Shares | Fair Value | ||||||
SPAIN - 1.8% (Continued) | ||||||||
Cellnex Telecom S.A. - ADR | 10,780 | $ | 165,904 | |||||
Cellnex Telecom S.A. | 4,067 | 125,435 | ||||||
Grifols S.A. (b) | 13,304 | 81,953 | ||||||
Iberdrola S.A. - ADR | 13,039 | 485,181 | ||||||
Iberdrola S.A. | 29,928 | 279,015 | ||||||
Industria de Diseno Textil S.A. | 34,462 | 711,079 | ||||||
Naturgy Energy Group S.A. | 12,657 | 292,761 | ||||||
Repsol S.A. | 178,289 | 2,048,296 | ||||||
Siemens Gamesa Renewable Energy S.A. (b) | 11,865 | 206,836 | ||||||
Telefónica S.A. | 92,766 | 306,634 | ||||||
5,617,021 | ||||||||
SWEDEN - 1.6% | ||||||||
Atlas Copco AB | 35,688 | 331,653 | ||||||
Atlas Copco AB - Class A - ADR | 40,296 | 371,529 | ||||||
Boliden AB (b) | 20,477 | 632,572 | ||||||
Essity AB - Series B | 7,919 | 156,433 | ||||||
H & M Hennes & Mauritz AB - B Shares | 19,185 | 177,344 | ||||||
Hexagon AB - B Shares | 53,748 | 501,893 | ||||||
Industrivarden AB | 11,816 | 237,974 | ||||||
Investor AB - B Shares | 119,025 | 1,736,491 | ||||||
Svenska Cellulosa AB S.C.A. - Series B | 16,418 | 208,292 | ||||||
Svenska Handelsbanken AB - A Shares | 31,343 | 257,261 | ||||||
Telefonaktiebolaget LM Ericsson - B Shares | 42,832 | 250,339 | ||||||
4,861,781 | ||||||||
SWITZERLAND - 6.7% | ||||||||
ABB Ltd. - ADR (a) | 39,077 | 1,002,716 | ||||||
ABB Ltd. | 5,783 | 149,315 | ||||||
Adecco Group AG - ADR | 4,418 | 60,350 | ||||||
Adecco Group AG | 14,312 | 395,009 | ||||||
Barry Callebaut AG | 553 | 1,042,424 | ||||||
Clariant AG (b) | 10,218 | 164,658 | ||||||
Coca-Cola HBC AG (b) | 26,042 | 544,221 | ||||||
Geberit AG | 1,928 | 826,712 | ||||||
Givaudan S.A. | 223 | 673,691 | ||||||
Groupe Bruxelles Lambert N.V. | 2,460 | 172,306 | ||||||
Holcim Ltd. (b) | 8,532 | 349,649 |
Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 97.7% (Continued) | Shares | Fair Value | ||||||
SWITZERLAND - 6.7% (Continued) | ||||||||
Julius Baer Group Ltd. (b) | 3,557 | $ | 155,226 | |||||
Keuhne + Nagel International AG | 643 | 130,937 | ||||||
Logitech International S.A. (a) | 5,031 | 231,426 | ||||||
Lonza Group AG - ADR | 1,070 | 52,077 | ||||||
Lonza Group AG | 2,080 | 1,012,744 | ||||||
Nestlé S.A. - ADR | 37,439 | 4,028,811 | ||||||
Nestlé S.A. | 4,022 | 435,013 | ||||||
Partners Group Holding AG | 570 | 458,732 | ||||||
Roche Holding AG - ADR (a) | 90,312 | 3,668,473 | ||||||
Roche Holding AG | 2,204 | 717,481 | ||||||
Sika AG | 852 | 171,247 | ||||||
Sonova Holding AG | 1,992 | 438,366 | ||||||
Swatch Group AG (The) | 707 | 158,793 | ||||||
Swiss Life Holding AG | 1,691 | 747,111 | ||||||
Swiss Re AG | 9,611 | 708,857 | ||||||
Swisscom AG | 981 | 459,349 | ||||||
Temenos AG | 3,323 | 224,029 | ||||||
UBS Group AG (a) | 39,428 | 572,026 | ||||||
UBS Group AG | 9,486 | 137,642 | ||||||
Zurich Insurance Group AG - ADR | 24,700 | 982,566 | ||||||
Zurich Insurance Group AG | 492 | 196,138 | ||||||
21,068,095 | ||||||||
TAIWAN - 4.8% | ||||||||
ASE Technology Holding Co. Ltd. - ADR | 126,937 | 633,416 | ||||||
AUO Corp. - ADR (a) | 144,653 | 934,458 | ||||||
Chunghwa Telecom Co. Ltd. - ADR | 134,305 | 4,771,857 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | 113,683 | 7,794,106 | ||||||
United Microelectronics Corp. - ADR (a)(b) | 154,753 | 861,974 | ||||||
14,995,811 | ||||||||
TURKEY - 0.0% (c) | ||||||||
Turkcell Iletisim Hizmetleri A.S. - ADR | 58,775 | 156,341 | ||||||
UNITED KINGDOM - 7.9% | ||||||||
3i Group plc | 68,813 | 826,384 | ||||||
Antofagasta plc | 47,452 | 581,287 | ||||||
Ashtead Group plc | 11,037 | 495,740 |
Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 97.7% (Continued) | Shares | Fair Value | ||||||
UNITED KINGDOM - 7.9% (Continued) | ||||||||
AstraZeneca plc - ADR (a) | 51,316 | $ | 2,814,169 | |||||
Aviva plc | 147,903 | 634,422 | ||||||
Barratt Developments plc | 56,585 | 213,889 | ||||||
British Land Co. plc (The) | 62,287 | 241,225 | ||||||
BT Group plc | 130,919 | 176,019 | ||||||
Bunzl plc | 5,822 | 177,905 | ||||||
Burberry Group plc | 13,434 | 268,389 | ||||||
Coca-Cola Europacific Partners plc (a) | 18,549 | 790,558 | ||||||
Compass Group plc | 35,682 | 710,615 | ||||||
GSK plc - ADR (a) | 34,149 | 1,005,005 | ||||||
GSK plc | 27,901 | 403,023 | ||||||
Haleon plc - ADR (b) | 50,072 | 304,938 | ||||||
Halma plc | 6,736 | 151,530 | ||||||
HSBC Holdings plc - ADR (a) | 56,042 | 1,461,015 | ||||||
HSBC Holdings plc | 27,340 | 141,583 | ||||||
Informa plc | 99,047 | 566,222 | ||||||
InterContinental Hotels Group plc - ADR | 2,515 | 122,254 | ||||||
J Sainsbury plc | 86,209 | 166,974 | ||||||
Kingfisher plc | 161,921 | 394,206 | ||||||
Land Securities Group plc | 37,958 | 219,278 | ||||||
Legal & General Group plc | 210,040 | 501,432 | ||||||
Lloyds Banking Group plc | 437,921 | 197,939 | ||||||
London Stock Exchange Group plc | 7,929 | 669,690 | ||||||
Mondi plc | 24,044 | 369,426 | ||||||
National Grid plc - ADR (a) | 5,768 | 297,225 | ||||||
National Grid plc | 49,369 | 508,281 | ||||||
NatWest Group plc | 160,250 | 399,194 | ||||||
PEARSON plc - ADR | 42,312 | 404,080 | ||||||
PEARSON plc | 24,794 | 236,806 | ||||||
Prudential plc - ADR | 10,228 | 203,742 | ||||||
Reckitt Benckiser Group plc - ADR | 34,350 | 456,512 | ||||||
Reckitt Benckiser Group plc | 3,212 | 212,926 | ||||||
RELX plc - ADR | 19,899 | 483,745 | ||||||
RELX plc | 61,542 | 1,504,036 | ||||||
Rentokil Initial plc | 28,495 | 151,058 | ||||||
Rio Tinto plc - ADR (a) | 9,034 | 497,412 |
Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 97.7% (Continued) | Shares | Fair Value | ||||||
UNITED KINGDOM - 7.9% (Continued) | ||||||||
Sage Group plc (The) - ADR | 2,320 | $ | 72,245 | |||||
Sage Group plc (The) | 14,027 | 108,116 | ||||||
Segro plc | 49,056 | 409,266 | ||||||
Severn Trent plc | 16,234 | 424,442 | ||||||
Taylor Wimpey plc | 108,822 | 105,979 | ||||||
Tesco plc - ADR | 5,503 | 37,696 | ||||||
Tesco plc | 144,166 | 330,918 | ||||||
Unilever plc - ADR | 44,516 | 1,951,581 | ||||||
United Utilities Group plc | 59,321 | 585,827 | ||||||
Vodafone Group plc - ADR | 40,631 | 460,349 | ||||||
Whitbread plc | 5,438 | 137,805 | ||||||
24,584,358 | ||||||||
TOTAL COMMON STOCKS (Cost $280,471,754) | $ | 305,840,245 |
CORPORATE NOTES - 1.0% | Coupon | Maturity | Par Value | Fair Value | ||||||||||||
COMMUNITY DEVELOPMENT - 1.0% | ||||||||||||||||
Calvert Social Investment Foundation, Inc. (d) | 3.000 | % | 06/15/23 | $ | 870,000 | $ | 855,479 | |||||||||
Calvert Social Investment Foundation, Inc. (d) | 3.000 | % | 12/15/23 | 480,000 | 466,249 | |||||||||||
Calvert Social Investment Foundation, Inc. (d) | 1.000 | % | 06/14/24 | 450,000 | 418,169 | |||||||||||
Calvert Social Investment Foundation, Inc. (d) | 3.000 | % | 06/17/24 | 290,000 | 278,587 | |||||||||||
Calvert Social Investment Foundation, Inc. (d) | 3.000 | % | 12/15/24 | 120,000 | 114,100 | |||||||||||
Calvert Social Investment Foundation, Inc. (d) | 2.500 | % | 06/13/25 | 500,000 | 464,674 | |||||||||||
Calvert Social Investment Foundation, Inc. (d) | 2.500 | % | 12/15/25 | 400,000 | 367,591 | |||||||||||
TOTAL CORPORATE NOTES (Cost $3,110,000) | $ | 2,964,849 |
MONEY MARKET FUNDS - 1.5% | Shares | Fair Value | ||||||
First American Government Obligations Fund - Class X, 2.77% (f) (Cost $4,802,476) | 4,802,476 | $ | 4,802,476 |
Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
INVESTMENT PURCHASED WITH THE CASH PROCEEDS FROM SECURITIES LENDING - 13.4% | Shares | Fair Value | ||||||
Mount Vernon Liquid Assets Portfolio, LLC, 3.16% (f)(g) (Cost $42,089,652) | 42,089,652 | $ | 42,089,652 | |||||
TOTAL INVESTMENTS - (Cost $330,473,882) - 113.6% | $ | 355,697,222 | ||||||
LIABILITES IN EXESS OF OTHER ASSETS - (13.6%) | (42,570,110 | ) | ||||||
NET ASSETS - 100.0% | $ | 313,127,112 |
(a) | All or a portion of the security is on loan. The total fair value of the securities on loan as of September 30, 2022 was $40,241,235. |
(b) | Non-income producing security. |
(c) | Percentage rounds to less than 0.1%. |
(d) | Restricted and/or illiquid securities not registered under the Securities Act of 1933 are as follows: |
Acquisition Date | Current Cost | Fair Value | % of Net Assets | |||||||||||
Calvert Social Investment Foundation, Inc. 3.000%, 06/15/23 | 06/18/18 | $ | 870,000 | $ | 855,479 | 0.3 | % | |||||||
Calvert Social Investment Foundation, Inc. 3.000%, 12/15/23 | 12/17/18 | 480,000 | 466,249 | 0.2 | % | |||||||||
Calvert Social Investment Foundation, Inc. 1.000%, 06/14/24 | 06/15/21 | 450,000 | 418,169 | 0.1 | % | |||||||||
Calvert Social Investment Foundation, Inc. 3.000%, 06/17/24 | 06/17/19 | 290,000 | 278,587 | 0.1 | % | |||||||||
Calvert Social Investment Foundation, Inc. 3.000%, 12/15/24 | 12/12/19 | 120,000 | 114,100 | 0.0 | %(c) | |||||||||
Calvert Social Investment Foundation, Inc. 2.500%, 06/13/25 | 06/12/20 | 500,000 | 464,674 | 0.2 | % | |||||||||
Calvert Social Investment Foundation, Inc. 2.500%, 12/15/25 | 12/15/20 | 400,000 | 367,591 | 0.1 | % | |||||||||
Mobile TeleSystems PJSC - ADR | 07/19/11 | 752,376 | 869 | 0.0 | %(c) | |||||||||
$ | 3,862,376 | $ | 2,965,718 | 1.0 | % |
(e) | Security value has been determined in good faith pursuant to procedures adopted by the Board of Trustees. The total fair value of such securities was $869 as of September 30, 2022, representing 0.0% (c) of net assets. |
(f) | The rate shown is the 7-day effective yield as of September 30, 2022. |
(g) | The security was purchased with cash collateral received from securities on loan. |
ADR - American Depositary Receipt
CDI - CHESS Depositary Interest
plc - Public Liability Company
REIT - Real Estate Investment Trust
Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
September 30, 2022 (Unaudited)
Common Stocks by Sector/Industry | % of Net Assets | |||
Communications - 9.5% | ||||
Advertising & Marketing | 0.4 | % | ||
Cable & Satellite | 0.2 | % | ||
Entertainment Content | 0.8 | % | ||
Internet Media & Services | 3.2 | % | ||
Publishing & Broadcasting | 0.4 | % | ||
Telecommunications | 4.5 | % | ||
Consumer Discretionary - 9.1% | ||||
Apparel & Textile Products | 1.1 | % | ||
Automotive | 3.0 | % | ||
E-Commerce Discretionary | 1.1 | % | ||
Home & Office Products | 0.1 | % | ||
Home Construction | 0.8 | % | ||
Leisure Facilities & Services | 0.6 | % | ||
Leisure Products | 0.3 | % | ||
Retail - Discretionary | 1.7 | % | ||
Wholesale - Discretionary | 0.4 | % | ||
Consumer Staples - 7.3% | ||||
Beverages | 0.9 | % | ||
Food | 2.2 | % | ||
Household Products | 2.3 | % | ||
Retail - Consumer Staples | 1.5 | % | ||
Wholesale - Consumer Staples | 0.4 | % | ||
Energy - 4.1% | ||||
Oil & Gas Producers | 3.9 | % | ||
Renewable Energy | 0.2 | % | ||
Financials - 20.6% | ||||
Asset Management | 1.3 | % | ||
Banking | 13.2 | % | ||
Institutional Financial Services | 1.1 | % | ||
Insurance | 4.7 | % | ||
Specialty Finance | 0.3 | % |
Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
Common Stocks by Sector/Industry (Continued) | % of Net Assets | |||
Health Care - 8.1% | ||||
Biotech & Pharma | 5.7 | % | ||
Health Care Facilities & Services | 0.9 | % | ||
Medical Equipment & Devices | 1.5 | % | ||
Industrials - 8.9% | ||||
Commercial Support Services | 1.6 | % | ||
Diversified Industrials | 0.3 | % | ||
Electrical Equipment | 1.3 | % | ||
Engineering & Construction | 0.2 | % | ||
Industrial Support Services | 0.5 | % | ||
Machinery | 1.2 | % | ||
Transportation & Logistics | 3.7 | % | ||
Transportation Equipment | 0.1 | % | ||
Materials - 8.6% | ||||
Chemicals | 2.7 | % | ||
Construction Materials | 0.4 | % | ||
Containers & Packaging | 0.5 | % | ||
Forestry, Paper & Wood Products | 0.5 | % | ||
Metals & Mining | 3.7 | % | ||
Steel | 0.8 | % | ||
Real Estate - 4.0% | ||||
Real Estate Owners & Developers | 1.7 | % | ||
Real Estate Services | 0.1 | % | ||
REITs | 2.2 | % | ||
Technology - 15.0% | ||||
Semiconductors | 4.5 | % | ||
Software | 0.9 | % | ||
Technology Hardware | 4.6 | % | ||
Technology Services | 5.0 | % | ||
Utilities - 2.5% | ||||
Electric & Gas Marketing & Trading | 0.2 | % | ||
Electric Utilities | 1.8 | % | ||
Gas & Water Utilities | 0.5 | % | ||
97.7 | % |
Schedule of Portfolio Investments
Praxis Value Index Fund
September 30, 2022 (Unaudited)
COMMON STOCKS - 98.5% | Shares | Fair Value | ||||||
ADVERTISING & MARKETING - 0.2% | ||||||||
Omnicom Group, Inc. (a) | 10,229 | $ | 645,348 | |||||
AEROSPACE & DEFENSE - 0.1% | ||||||||
Howmet Aerospace, Inc. | 14,090 | 435,804 | ||||||
APPAREL & TEXTILE PRODUCTS - 0.3% | ||||||||
NIKE, Inc. - Class B | 9,970 | 828,707 | ||||||
VF Corp. | 7,520 | 224,923 | ||||||
1,053,630 | ||||||||
ASSET MANAGEMENT - 0.4% | ||||||||
Ameriprise Financial, Inc. | 1,540 | 388,003 | ||||||
BlackRock, Inc. | 742 | 408,308 | ||||||
Charles Schwab Corp. (The) | 11,220 | 806,381 | ||||||
1,602,692 | ||||||||
AUTOMOTIVE - 0.4% | ||||||||
BorgWarner, Inc. | 14,870 | 466,918 | ||||||
Ford Motor Co. | 81,853 | 916,754 | ||||||
1,383,672 | ||||||||
BANKING - 5.2% | ||||||||
Bank of America Corp. | 101,100 | 3,053,220 | ||||||
Citigroup, Inc. | 46,326 | 1,930,404 | ||||||
Citizens Financial Group, Inc. | 10,900 | 374,524 | ||||||
Fifth Third Bancorp | 19,490 | 622,900 | ||||||
Huntington Bancshares, Inc. | 33,170 | 437,181 | ||||||
JPMorgan Chase & Co. | 49,615 | 5,184,768 | ||||||
KeyCorp | 21,488 | 344,238 | ||||||
M&T Bank Corp. | 7,694 | 1,356,606 | ||||||
PNC Financial Services Group, Inc. (The) | 13,071 | 1,953,069 | ||||||
Regions Financial Corp. | 24,860 | 498,940 | ||||||
Truist Financial Corp. | 40,660 | 1,770,336 | ||||||
U.S. Bancorp | 22,707 | 915,546 | ||||||
18,441,732 | ||||||||
BEVERAGES - 2.9% | ||||||||
Coca-Cola Co. (The) | 106,520 | 5,967,251 | ||||||
Keurig Dr Pepper, Inc. | 7,520 | 269,366 | ||||||
PepsiCo, Inc. | 25,859 | 4,221,740 | ||||||
10,458,357 |
Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.5% (Continued) | Shares | Fair Value | ||||||
BIOTECH & PHARMA - 7.9% | ||||||||
AbbVie, Inc. | 17,386 | $ | 2,333,375 | |||||
Amgen, Inc. | 6,604 | 1,488,542 | ||||||
Biogen, Inc. (b) | 3,860 | 1,030,620 | ||||||
Bristol-Myers Squibb Co. | 63,139 | 4,488,551 | ||||||
Gilead Sciences, Inc. | 23,550 | 1,452,799 | ||||||
Johnson & Johnson | 64,781 | 10,582,624 | ||||||
Merck & Co., Inc. | 61,130 | 5,264,516 | ||||||
Vertex Pharmaceuticals, Inc. (b) | 1,080 | 312,703 | ||||||
Viatris, Inc. | 40,540 | 345,401 | ||||||
Zoetis, Inc. | 3,990 | 591,677 | ||||||
27,890,808 | ||||||||
CABLE & SATELLITE - 0.9% | ||||||||
Charter Communications, Inc. - Class A (a)(b) | 560 | 169,876 | ||||||
Comcast Corp. - Class A | 103,410 | 3,033,015 | ||||||
3,202,891 | ||||||||
CHEMICALS - 4.8% | ||||||||
Air Products & Chemicals, Inc. | 7,697 | 1,791,323 | ||||||
Dow, Inc. | 19,230 | 844,774 | ||||||
DuPont de Nemours, Inc. | 12,548 | 632,419 | ||||||
Eastman Chemical Co. | 3,900 | 277,095 | ||||||
Ecolab, Inc. | 7,050 | 1,018,161 | ||||||
International Flavors & Fragrances, Inc. | 12,832 | 1,165,531 | ||||||
Linde plc | 23,156 | 6,242,626 | ||||||
LyondellBasell Industries N.V. - Class A | 56,480 | 4,251,814 | ||||||
PPG Industries, Inc. | 1,080 | 119,545 | ||||||
Sherwin-Williams Co. (The) | 2,880 | 589,680 | ||||||
16,932,968 | ||||||||
COMMERCIAL SUPPORT SERVICES - 1.9% | ||||||||
Republic Services, Inc. | 11,450 | 1,557,658 | ||||||
Robert Half International, Inc. | 5,180 | 396,270 | ||||||
Rollins, Inc. | 25,890 | 897,865 | ||||||
Waste Management, Inc. | 25,070 | 4,016,465 | ||||||
6,868,258 | ||||||||
CONSTRUCTION MATERIALS - 0.1% | ||||||||
Martin Marietta Materials, Inc. | 1,320 | 425,159 | ||||||
CONTAINERS & PACKAGING - 0.5% | ||||||||
Ball Corp. (a) | 12,248 | 591,823 |
Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.5% (Continued) | Shares | Fair Value | ||||||
CONTAINERS & PACKAGING - 0.5% (Continued) | ||||||||
International Paper Co. | 12,160 | $ | 385,472 | |||||
Packaging Corp. of America | 3,290 | 369,434 | ||||||
WestRock Co. | 10,430 | 322,183 | ||||||
1,668,912 | ||||||||
DIVERSIFIED INDUSTRIALS - 1.2% | ||||||||
Dover Corp. (a) | 5,253 | 612,395 | ||||||
Eaton Corp. plc | 3,930 | 524,105 | ||||||
Emerson Electric Co. | 9,554 | 699,544 | ||||||
Illinois Tool Works, Inc. | 14,045 | 2,537,229 | ||||||
4,373,273 | ||||||||
ELECTRIC UTILITIES - 5.5% | ||||||||
AES Corp. (The) | 27,234 | 615,488 | ||||||
American Electric Power Co., Inc. | 16,270 | 1,406,542 | ||||||
CenterPoint Energy, Inc. | 9,170 | 258,411 | ||||||
CMS Energy Corp. | 12,530 | 729,747 | ||||||
Consolidated Edison, Inc. (a) | 26,561 | 2,277,871 | ||||||
Constellation Energy Corp. | 7,470 | 621,429 | ||||||
DTE Energy Co. | 4,170 | 479,759 | ||||||
Duke Energy Corp. | 25,514 | 2,373,312 | ||||||
Edison International | 11,827 | 669,172 | ||||||
Eversource Energy | 7,770 | 605,749 | ||||||
NextEra Energy, Inc. | 49,300 | 3,865,613 | ||||||
PPL Corp. | 16,050 | 406,868 | ||||||
Sempra Energy | 15,043 | 2,255,547 | ||||||
Southern Co. (The) | 31,681 | 2,154,308 | ||||||
Xcel Energy, Inc. | 14,114 | 903,296 | ||||||
19,623,112 | ||||||||
ELECTRICAL EQUIPMENT - 3.2% | ||||||||
AMETEK, Inc. | 4,630 | 525,088 | ||||||
Carrier Global Corp. | 22,720 | 807,923 | ||||||
Fortive Corp. | 9,480 | 552,684 | ||||||
Johnson Controls International plc | 75,907 | 3,736,143 | ||||||
Keysight Technologies, Inc. (b) | 6,000 | 944,160 | ||||||
Otis Worldwide Corp. | 9,260 | 590,788 | ||||||
Rockwell Automation, Inc. | 8,530 | 1,834,888 | ||||||
Roper Technologies, Inc. | 3,030 | 1,089,709 | ||||||
TE Connectivity Ltd. | 4,660 | 514,278 |
Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.5% (Continued) | Shares | Fair Value | ||||||
ELECTRICAL EQUIPMENT - 3.2% (Continued) | ||||||||
Trane Technologies plc (a) | 4,150 | $ | 600,961 | |||||
Trimble, Inc. (b) | 3,240 | 175,835 | ||||||
11,372,457 | ||||||||
ENGINEERING & CONSTRUCTION - 0.1% | ||||||||
Quanta Services, Inc. | 2,080 | 264,971 | ||||||
ENTERTAINMENT CONTENT - 2.5% | ||||||||
Activision Blizzard, Inc. | 18,000 | 1,338,120 | ||||||
Electronic Arts, Inc. | 8,020 | 927,994 | ||||||
Fox Corp. - Class A | 15,020 | 460,814 | ||||||
Paramount Global - Class B (a) | 15,986 | 304,373 | ||||||
Walt Disney Co. (The) (b) | 43,269 | 4,081,565 | ||||||
Warner Bros. Discovery, Inc. (b) | 143,987 | 1,655,850 | ||||||
8,768,716 | ||||||||
FOOD - 2.9% | ||||||||
Campbell Soup Co. | 10,070 | 474,499 | ||||||
Conagra Brands, Inc. | 16,070 | 524,364 | ||||||
General Mills, Inc. | 31,984 | 2,450,294 | ||||||
Hershey Co. (The) (a) | 2,830 | 623,930 | ||||||
Hormel Foods Corp. | 22,750 | 1,033,760 | ||||||
J.M. Smucker Co. (The) | 3,710 | 509,791 | ||||||
Kellogg Co. | 5,960 | 415,174 | ||||||
Kraft Heinz Co. (The) | 26,030 | 868,101 | ||||||
McCormick & Co., Inc. | 6,090 | 434,034 | ||||||
Mondelez International, Inc. - Class A | 40,482 | 2,219,628 | ||||||
Tyson Foods, Inc. - Class A | 9,110 | 600,622 | ||||||
10,154,197 | ||||||||
GAS & WATER UTILITIES - 0.4% | ||||||||
American Water Works Co., Inc. | 6,040 | 786,167 | ||||||
NiSource, Inc. | 29,770 | 749,906 | ||||||
1,536,073 | ||||||||
HEALTH CARE FACILITIES & SERVICES - 5.7% | ||||||||
AmerisourceBergen Corp. | 8,740 | 1,182,784 | ||||||
Cardinal Health, Inc. | 11,920 | 794,826 | ||||||
Cigna Corp. | 15,522 | 4,306,889 | ||||||
CVS Health Corp. | 25,454 | 2,427,548 | ||||||
Elevance Health, Inc. | 6,020 | 2,734,525 | ||||||
Humana, Inc. | 1,410 | 684,118 |
Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.5% (Continued) | Shares | Fair Value | ||||||
HEALTH CARE FACILITIES & SERVICES - 5.7% (Continued) | ||||||||
IQVIA Holdings, Inc. (b) | 2,920 | $ | 528,929 | |||||
Laboratory Corp. of America Holdings | 2,120 | 434,197 | ||||||
McKesson Corp. | 5,714 | 1,942,017 | ||||||
UnitedHealth Group, Inc. | 10,290 | 5,196,862 | ||||||
20,232,695 | ||||||||
HOME & OFFICE PRODUCTS - 0.1% | ||||||||
Whirlpool Corp. | 3,150 | 424,651 | ||||||
HOUSEHOLD PRODUCTS - 3.2% | ||||||||
Church & Dwight Co., Inc. | 6,650 | 475,076 | ||||||
Colgate-Palmolive Co. | 12,670 | 890,067 | ||||||
Kimberly-Clark Corp. | 14,960 | 1,683,598 | ||||||
Procter & Gamble Co. (The) | 64,726 | 8,171,658 | ||||||
11,220,399 | ||||||||
INDUSTRIAL SUPPORT SERVICES - 0.3% | ||||||||
Fastenal Co. | 9,800 | 451,192 | ||||||
W.W. Grainger, Inc. | 1,310 | 640,839 | ||||||
1,092,031 | ||||||||
INSTITUTIONAL FINANCIAL SERVICES - 1.7% | ||||||||
Bank of New York Mellon Corp. (The) | 38,024 | 1,464,684 | ||||||
CME Group, Inc. | 9,190 | 1,627,825 | ||||||
Intercontinental Exchange, Inc. | 5,030 | 454,461 | ||||||
Morgan Stanley | 17,641 | 1,393,815 | ||||||
Northern Trust Corp. | 6,297 | 538,771 | ||||||
State Street Corp. | 6,610 | 401,954 | ||||||
5,881,510 | ||||||||
INSURANCE - 5.8% | ||||||||
Aflac, Inc. | 38,140 | 2,143,468 | ||||||
Allstate Corp. (The) | 10,919 | 1,359,743 | ||||||
American International Group, Inc. | 22,987 | 1,091,423 | ||||||
Arthur J. Gallagher & Co. | 2,930 | 501,675 | ||||||
Assurant, Inc. | 4,170 | 605,776 | ||||||
Berkley (W.R.) Corp. | 9,825 | 634,498 | ||||||
Chubb Ltd. | 4,540 | 825,735 | ||||||
Cincinnati Financial Corp. (a) | 4,172 | 373,686 | ||||||
Globe Life, Inc. | 10,480 | 1,044,856 | ||||||
Hartford Financial Services Group, Inc. (The) | 10,830 | 670,810 |
Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.5% (Continued) | Shares | Fair Value | ||||||
INSURANCE - 5.8% (Continued) | ||||||||
Lincoln National Corp. | 7,310 | $ | 320,982 | |||||
Loews Corp. | 25,180 | 1,254,971 | ||||||
Marsh & McLennan Cos., Inc. | 7,150 | 1,067,424 | ||||||
MetLife, Inc. | 35,413 | 2,152,402 | ||||||
Principal Financial Group, Inc. | 11,170 | 805,916 | ||||||
Progressive Corp. (The) | 16,630 | 1,932,572 | ||||||
Prudential Financial, Inc. (a) | 20,750 | 1,779,935 | ||||||
Travelers Cos., Inc. (The) | 13,253 | 2,030,360 | ||||||
20,596,232 | ||||||||
INTERNET MEDIA & SERVICES - 0.7% | ||||||||
Booking Holdings, Inc. (b) | 700 | 1,150,247 | ||||||
Expedia Group, Inc. (a)(b) | 3,040 | 284,818 | ||||||
Match Group, Inc. (b) | 6,650 | 317,537 | ||||||
Meta Platforms, Inc. - Class A (b) | 1,700 | 230,656 | ||||||
Netflix, Inc. (a)(b) | 710 | 167,162 | ||||||
Twitter, Inc. (b) | 5,690 | 249,450 | ||||||
2,399,870 | ||||||||
LEISURE FACILITIES & SERVICES - 2.1% | ||||||||
Carnival Corp. (a)(b) | 28,663 | 201,501 | ||||||
Darden Restaurants, Inc. (a) | 4,210 | 531,807 | ||||||
Hilton Worldwide Holdings, Inc. | 6,420 | 774,380 | ||||||
Live Nation Entertainment, Inc. (a)(b) | 2,620 | 199,225 | ||||||
Marriott International, Inc. - Class A | 6,210 | 870,269 | ||||||
McDonald's Corp. | 12,340 | 2,847,332 | ||||||
Starbucks Corp. | 16,870 | 1,421,466 | ||||||
Yum! Brands, Inc. | 5,400 | 574,236 | ||||||
7,420,216 | ||||||||
LEISURE PRODUCTS - 0.1% | ||||||||
Hasbro, Inc. | 6,490 | 437,556 | ||||||
MACHINERY - 1.1% | ||||||||
Deere & Co. (a) | 5,057 | 1,688,482 | ||||||
IDEX Corp. | 2,840 | 567,574 | ||||||
Ingersoll-Rand, Inc. | 13,050 | 564,543 | ||||||
Stanley Black & Decker, Inc. | 5,070 | 381,315 | ||||||
Xylem, Inc. | 7,010 | 612,393 | ||||||
3,814,307 |
Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.5% (Continued) | Shares | Fair Value | ||||||
MEDICAL EQUIPMENT & DEVICES - 4.0% | ||||||||
Abbott Laboratories | 23,170 | $ | 2,241,929 | |||||
Baxter International, Inc. | 17,182 | 925,423 | ||||||
Becton, Dickinson and Co. | 8,310 | 1,851,717 | ||||||
Boston Scientific Corp. (b) | 29,180 | 1,130,141 | ||||||
Cooper Cos., Inc. (The) | 1,170 | 308,763 | ||||||
Danaher Corp. | 7,520 | 1,942,341 | ||||||
DENTSPLY SIRONA, Inc. | 8,810 | 249,764 | ||||||
Edwards Lifesciences Corp. (b) | 5,460 | 451,160 | ||||||
Illumina, Inc. (b) | 3,590 | 684,936 | ||||||
Intuitive Surgical, Inc. (b) | 1,460 | 273,662 | ||||||
Medtronic plc | 9,340 | 754,205 | ||||||
Mettler-Toledo International, Inc. (b) | 400 | 433,648 | ||||||
ResMed, Inc. | 980 | 213,934 | ||||||
Stryker Corp. | 3,720 | 753,449 | ||||||
Teleflex, Inc. | 1,370 | 276,000 | ||||||
Thermo Fisher Scientific, Inc. | 3,154 | 1,599,677 | ||||||
14,090,749 | ||||||||
METALS & MINING - 0.0% (c) | ||||||||
Newmont Corp. | 3,280 | 137,858 | ||||||
OIL & GAS PRODUCERS - 4.8% | ||||||||
ConocoPhillips | 118,777 | 12,155,638 | ||||||
Pioneer Natural Resources Co. | 6,310 | 1,366,304 | ||||||
Valero Energy Corp. | 34,350 | 3,670,298 | ||||||
17,192,240 | ||||||||
OIL & GAS SERVICES & EQUIPMENT - 1.4% | ||||||||
Baker Hughes Co. | 65,320 | 1,369,107 | ||||||
Schlumberger Ltd. | 105,016 | 3,770,075 | ||||||
5,139,182 | ||||||||
REAL ESTATE SERVICES - 1.2% | ||||||||
CBRE Group, Inc. - Class A (b) | 60,690 | 4,097,182 | ||||||
REITS - 3.3% | ||||||||
American Tower Corp. | 4,760 | 1,021,972 | ||||||
AvalonBay Communities, Inc. | 5,900 | 1,086,721 | ||||||
Boston Properties, Inc. | 3,190 | 239,154 | ||||||
Crown Castle, Inc. | 4,160 | 601,328 | ||||||
Digital Realty Trust, Inc. | 5,980 | 593,097 |
Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.5% (Continued) | Shares | Fair Value | ||||||
REITS - 3.3% (Continued) | ||||||||
Equinix, Inc. | 910 | $ | 517,644 | |||||
Equity Residential | 17,370 | 1,167,611 | ||||||
Federal Realty Investment Trust | 1,600 | 144,192 | ||||||
Healthpeak Properties, Inc. | 20,530 | 470,548 | ||||||
Host Hotels & Resorts, Inc. | 49,590 | 787,489 | ||||||
Iron Mountain, Inc. | 10 | 440 | ||||||
Kimco Realty Corp. | 22,420 | 412,752 | ||||||
Prologis, Inc. | 15,540 | 1,578,864 | ||||||
Public Storage (a) | 1,920 | 562,195 | ||||||
Realty Income Corp. (a) | 9,490 | 552,318 | ||||||
Regency Centers Corp. | 9,230 | 497,036 | ||||||
SBA Communications Corp. - Class A | 1,660 | 472,519 | ||||||
Simon Property Group, Inc. | 2,089 | 187,488 | ||||||
VICI Properties, Inc (a) | 8,700 | 259,695 | ||||||
Welltower, Inc. (a) | 9,100 | 585,312 | ||||||
11,738,375 | ||||||||
RENEWABLE ENERGY - 0.0% (c) | ||||||||
SolarEdge Technologies, Inc. (b) | 580 | 134,247 | ||||||
RETAIL - CONSUMER STAPLES - 2.5% | ||||||||
Costco Wholesale Corp. | 3,700 | 1,747,399 | ||||||
Dollar General Corp. | 2,630 | 630,832 | ||||||
Dollar Tree, Inc. (b) | 4,010 | 545,761 | ||||||
Kroger Co. (The) (a) | 20,514 | 897,487 | ||||||
Target Corp. | 4,850 | 719,692 | ||||||
Walgreen Boots Alliance, Inc. | 14,940 | 469,116 | ||||||
Walmart, Inc. | 30,750 | 3,988,275 | ||||||
8,998,562 | ||||||||
RETAIL - DISCRETIONARY - 1.4% | ||||||||
Genuine Parts Co. | 4,570 | 682,393 | ||||||
Home Depot, Inc. (The) | 6,312 | 1,741,733 | ||||||
Lowe's Cos., Inc. - Class B | 1,910 | 358,717 | ||||||
Ross Stores, Inc. | 5,160 | 434,833 | ||||||
TJX Cos., Inc. (The) | 29,130 | 1,809,556 | ||||||
5,027,232 |
Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.5% (Continued) | Shares | Fair Value | ||||||
SEMICONDUCTORS - 2.5% | ||||||||
Analog Devices, Inc. | 10,630 | $ | 1,481,184 | |||||
Broadcom, Inc. | 3,640 | 1,616,196 | ||||||
Intel Corp. | 83,908 | 2,162,309 | ||||||
Micron Technology, Inc. | 29,590 | 1,482,459 | ||||||
Qorvo, Inc. (b) | 4,610 | 366,080 | ||||||
Texas Instruments, Inc. | 12,020 | 1,860,456 | ||||||
8,968,684 | ||||||||
SOFTWARE - 1.3% | ||||||||
Autodesk, Inc. (b) | 2,650 | 495,020 | ||||||
Microsoft Corp. | 4,950 | 1,152,855 | ||||||
NortonLifeLock, Inc. | 15,800 | 318,212 | ||||||
Oracle Corp. | 8,432 | 514,942 | ||||||
Salesforce.com, Inc. (b) | 10,040 | 1,444,154 | ||||||
Synopsys, Inc. (b) | 2,040 | 623,240 | ||||||
4,548,423 | ||||||||
SPECIALTY FINANCE - 0.6% | ||||||||
American Express Co. | 9,754 | 1,315,912 | ||||||
Capital One Financial Corp. | 6,200 | 571,454 | ||||||
Synchrony Financial | 10,350 | 291,767 | ||||||
2,179,133 | ||||||||
TECHNOLOGY HARDWARE - 1.3% | ||||||||
Cisco Systems, Inc. | 73,730 | 2,949,200 | ||||||
Corning, Inc. | 14,610 | 423,982 | ||||||
HP, Inc. | 26,820 | 668,354 | ||||||
Western Digital Corp. (b) | 11,965 | 389,461 | ||||||
Zebra Technologies Corp. - Class A (b) | 690 | 180,787 | ||||||
4,611,784 | ||||||||
TECHNOLOGY SERVICES - 5.7% | ||||||||
Accenture plc - Class A | 16,780 | 4,317,494 | ||||||
Automatic Data Processing, Inc. | 5,210 | 1,178,450 | ||||||
Cognizant Technology Solutions Corp. - Class A | 10,200 | 585,888 | ||||||
DXC Technology Co. (b) | 15,380 | 376,502 | ||||||
EPAM Systems, Inc. (b) | 1,050 | 380,299 | ||||||
Fidelity National Information Services, Inc. | 16,860 | 1,274,110 | ||||||
Fiserv, Inc. (b) | 13,840 | 1,295,009 | ||||||
Global Payments, Inc. | 2,200 | 237,710 | ||||||
International Business Machines Corp. | 17,092 | 2,030,701 | ||||||
Mastercard, Inc. - Class A | 8,590 | 2,442,481 |
Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.5% (Continued) | Shares | Fair Value | ||||||
TECHNOLOGY SERVICES - 5.7% (Continued) | ||||||||
MSCI, Inc. | 1,140 | $ | 480,841 | |||||
Paychex, Inc. | 3,334 | 374,108 | ||||||
PayPal Holdings, Inc. (b) | 17,170 | 1,477,822 | ||||||
S&P Global, Inc. | 2,450 | 748,107 | ||||||
Visa, Inc. - Class A (a) | 17,730 | 3,149,735 | ||||||
20,349,257 | ||||||||
TELECOMMUNICATIONS - 2.2% | ||||||||
AT&T, Inc. | 204,646 | 3,139,270 | ||||||
T-Mobile US, Inc. (b) | 13,480 | 1,808,611 | ||||||
Verizon Communications, Inc. | 73,160 | 2,777,885 | ||||||
7,725,766 | ||||||||
TRANSPORTATION & LOGISTICS - 3.5% | ||||||||
Alaska Air Group, Inc. (b) | 9,130 | 357,439 | ||||||
American Airlines Group, Inc. (a)(b) | 43,070 | 518,563 | ||||||
C.H. Robinson Worldwide, Inc. (a) | 6,070 | 584,602 | ||||||
CSX Corp. | 57,110 | 1,521,410 | ||||||
Delta Air Lines, Inc. (b) | 29,020 | 814,301 | ||||||
FedEx Corp. | 5,380 | 798,769 | ||||||
J.B. Hunt Transport Services, Inc. | 4,690 | 733,610 | ||||||
Norfolk Southern Corp. | 7,190 | 1,507,383 | ||||||
Southwest Airlines Co. (b) | 34,690 | 1,069,840 | ||||||
Union Pacific Corp. | 10,450 | 2,035,869 | ||||||
United Airlines Holdings, Inc. (b) | 13,060 | 424,842 | ||||||
United Parcel Service, Inc. - Class B (a) | 11,880 | 1,919,095 | ||||||
12,285,723 | ||||||||
TRANSPORTATION EQUIPMENT - 0.2% | ||||||||
PACCAR, Inc. | 5,090 | 425,982 | ||||||
Westinghouse Air Brake Technologies Corp. (a) | 3,110 | 252,999 | ||||||
678,981 | ||||||||
WHOLESALE - CONSUMER STAPLES - 0.4% | ||||||||
Sysco Corp. | 18,180 | 1,285,508 | ||||||
TOTAL COMMON STOCKS (COST $316,066,184) | $ | 349,811,383 |
Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
CORPORATE NOTES - 1.0% | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
COMMUNITY DEVELOPMENT - 1.0% | ||||||||||||||||
Calvert Social Investment Foundation, Inc. (d) | 0.400 | % | 12/15/22 | $ | 400,000 | $ | 396,594 | |||||||||
Calvert Social Investment Foundation, Inc. (d) | 3.000 | % | 06/15/23 | 450,000 | 442,489 | |||||||||||
Calvert Social Investment Foundation, Inc. (d) | 3.000 | % | 12/15/23 | 720,000 | 699,374 | |||||||||||
Calvert Social Investment Foundation, Inc. (d) | 1.000 | % | 06/14/24 | 750,000 | 696,948 | |||||||||||
Calvert Social Investment Foundation, Inc. (d) | 3.000 | % | 06/17/24 | 280,000 | 268,981 | |||||||||||
Calvert Social Investment Foundation, Inc. (d) | 3.000 | % | 12/15/24 | 250,000 | 237,708 | |||||||||||
Calvert Social Investment Foundation, Inc. (d) | 2.500 | % | 06/13/25 | 280,000 | 260,217 | |||||||||||
Calvert Social Investment Foundation, Inc. (d) | 2.500 | % | 12/15/25 | 450,000 | 413,540 | |||||||||||
TOTAL CORPORATE NOTES (COST $3,580,000) | $ | 3,415,851 |
MONEY MARKET FUNDS - 0.8% | Shares | Fair Value | ||||||
First American Government Obligations Fund - Class X, 2.77% (e) (COST $2,785,567) | 2,785,567 | $ | 2,785,567 |
Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
INVESTMENT PURCHASED WITH THE CASH PROCEEDS FROM SECURITIES LENDING - 4.9% | Shares | Fair Value | ||||||
Mount Vernon Liquid Assets Portfolio, LLC, 3.16% (e)(f) (COST $17,450,133) | 17,450,133 | $ | 17,450,133 | |||||
TOTAL INVESTMENTS - (COST $339,881,884) - 105.2% | $ | 373,462,934 | ||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (5.2%) | (18,385,730 | ) | ||||||
NET ASSETS - 100.0% | $ | 355,077,204 |
(a) | All or a portion of the security is on loan. The total fair value of the securities on loan as of September 30, 2022 was $16,770,386. |
(b) | Non-income producing security. |
(c) | Percentage rounds to less than 0.1%. |
(d) | Restricted and illiquid securities not registered under the Securities Act of 1933 are as follows: |
Acquisition | Current | Fair | % of Net | ||||||||||||
Date | Cost | Value | Assets | ||||||||||||
Calvert Social Investment Foundation, Inc. 0.400%, 12/15/22 | 12/15/21 | $ | 400,000 | $ | 396,594 | 0.1 | % | ||||||||
Calvert Social Investment Foundation, Inc. 3.000%, 06/15/23 | 06/18/18 | 450,000 | 442,489 | 0.1 | % | ||||||||||
Calvert Social Investment Foundation, Inc. 3.000%, 12/15/23 | 12/17/18 | 720,000 | 699,374 | 0.2 | % | ||||||||||
Calvert Social Investment Foundation, Inc. 1.000%, 06/14/24 | 06/15/21 | 750,000 | 696,948 | 0.2 | % | ||||||||||
Calvert Social Investment Foundation, Inc. 3.000%, 06/17/24 | 06/17/19 | 280,000 | 268,981 | 0.1 | % | ||||||||||
Calvert Social Investment Foundation, Inc. 3.000%, 12/15/24 | 12/12/19 | 250,000 | 237,708 | 0.1 | % | ||||||||||
Calvert Social Investment Foundation, Inc. 2.500%, 06/13/25 | 06/12/20 | 280,000 | 260,217 | 0.1 | % | ||||||||||
Calvert Social Investment Foundation, Inc. 2.500%, 12/15/25 | 12/15/20 | 450,000 | 413,540 | 0.1 | % | ||||||||||
$ | 3,580,000 | $ | 3,415,851 | 1.0 | % |
(e) | The rate shown is the 7-day effective yield as of September 30, 2022. |
(f) | The security was purchased with cash collateral received from securities on loan. |
plc - Public Liability Company
Schedule of Portfolio Investments
Praxis Growth Index Fund
September 30, 2022 (Unaudited)
COMMON STOCKS - 98.5% | Shares | Fair Value | ||||||
APPAREL & TEXTILE PRODUCTS - 0.4% | ||||||||
NIKE, Inc. - Class B | 15,817 | $ | 1,314,709 | |||||
Ralph Lauren Corp. - Class A | 3,730 | 316,789 | ||||||
1,631,498 | ||||||||
ASSET MANAGEMENT - 1.3% | ||||||||
Ameriprise Financial, Inc. | 2,880 | 725,616 | ||||||
BlackRock, Inc. | 2,233 | 1,228,775 | ||||||
Charles Schwab Corp. (The) | 32,260 | 2,318,526 | ||||||
Raymond James Financial, Inc. | 7,440 | 735,221 | ||||||
T. Rowe Price Group, Inc. | 5,840 | 613,259 | ||||||
5,621,397 | ||||||||
AUTOMOTIVE - 4.5% | ||||||||
Aptiv plc (a) | 3,770 | 294,852 | ||||||
Tesla, Inc. (a) | 73,050 | 19,376,512 | ||||||
19,671,364 | ||||||||
BANKING - 1.9% | ||||||||
Bank of America Corp. | 88,350 | 2,668,170 | ||||||
Fifth Third Bancorp | 13,820 | 441,687 | ||||||
First Republic Bank | 2,280 | 297,654 | ||||||
JPMorgan Chase & Co. | 31,880 | 3,331,460 | ||||||
Regions Financial Corp. | 35,280 | 708,070 | ||||||
Signature Bank | 2,090 | 315,590 | ||||||
SVB Financial Group (a) | 1,590 | 533,890 | ||||||
8,296,521 | ||||||||
BEVERAGES - 0.9% | ||||||||
PepsiCo, Inc. | 23,220 | 3,790,897 | ||||||
BIOTECH & PHARMA - 4.9% | ||||||||
AbbVie, Inc. | 22,951 | 3,080,254 | ||||||
Amgen, Inc. | 12,054 | 2,716,972 | ||||||
Bristol-Myers Squibb Co. | 6,116 | 434,786 | ||||||
Eli Lilly & Co. | 21,800 | 7,049,030 | ||||||
Johnson & Johnson | 4,488 | 733,160 | ||||||
Merck & Co., Inc. | 5,571 | 479,774 | ||||||
Moderna, Inc. (a)(b) | 10,580 | 1,251,085 | ||||||
Regeneron Pharmaceuticals, Inc. (a)(b) | 3,671 | 2,528,842 | ||||||
Vertex Pharmaceuticals, Inc. (a) | 5,704 | 1,651,536 |
Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
COMMON STOCKS - 98.5% (Continued) | Shares | Fair Value | ||||||
BIOTECH & PHARMA - 4.9% (Continued) | ||||||||
Zoetis, Inc. | 9,730 | $ | 1,442,862 | |||||
21,368,301 | ||||||||
CHEMICALS - 0.9% | ||||||||
Linde plc | 11,878 | 3,202,190 | ||||||
LyondellBasell Industries N.V. - Class A | 1,090 | 82,055 | ||||||
Sherwin-Williams Co. (The) | 3,471 | 710,688 | ||||||
3,994,933 | ||||||||
COMMERCIAL SUPPORT SERVICES - 0.4% | ||||||||
Cintas Corp. | 900 | 349,371 | ||||||
Republic Services, Inc. | 2,660 | 361,866 | ||||||
Waste Management, Inc. | 6,464 | 1,035,598 | ||||||
1,746,835 | ||||||||
CONTAINERS & PACKAGING - 0.1% | ||||||||
Ball Corp. (b) | 5,170 | 249,814 | ||||||
DIVERSIFIED INDUSTRIALS - 0.2% | ||||||||
Illinois Tool Works, Inc. | 3,694 | 667,321 | ||||||
E-COMMERCE DISCRETIONARY - 5.6% | ||||||||
Amazon.com, Inc. (a) | 203,600 | 23,006,800 | ||||||
eBay, Inc. | 24,585 | 904,974 | ||||||
Etsy, Inc. (a)(b) | 5,590 | 559,727 | ||||||
24,471,501 | ||||||||
ELECTRIC UTILITIES - 0.2% | ||||||||
NextEra Energy, Inc. | 8,874 | 695,810 | ||||||
ELECTRICAL EQUIPMENT - 0.9% | ||||||||
Amphenol Corp. - Class A | 10,642 | 712,588 | ||||||
Generac Holdings, Inc. (a) | 1,790 | 318,871 | ||||||
Johnson Controls International plc | 7,170 | 352,907 | ||||||
Keysight Technologies, Inc. (a) | 6,221 | 978,937 | ||||||
Otis Worldwide Corp. | 9,630 | 614,394 | ||||||
Rockwell Automation, Inc. | 2,298 | 494,323 | ||||||
Trimble, Inc. (a) | 11,490 | 623,562 | ||||||
4,095,582 | ||||||||
ENTERTAINMENT CONTENT - 0.4% | ||||||||
Activision Blizzard, Inc. | 6,560 | 487,670 | ||||||
Electronic Arts, Inc. | 7,895 | 913,531 |
Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
COMMON STOCKS - 98.5% (Continued) | Shares | Fair Value | ||||||
ENTERTAINMENT CONTENT - 0.4% (Continued) | ||||||||
Walt Disney Co. (The) (a) | 5,103 | $ | 481,366 | |||||
1,882,567 | ||||||||
GAS & WATER UTILITIES - 0.1% | ||||||||
American Water Works Co., Inc. | 3,780 | 492,005 | ||||||
HEALTH CARE FACILITIES & SERVICES - 2.7% | ||||||||
AmerisourceBergen Corp. | 4,700 | 636,051 | ||||||
Cardinal Health, Inc. | 6,400 | 426,752 | ||||||
Catalent, Inc. (a) | 5,970 | 431,989 | ||||||
Charles River Laboratories International, Inc. (a) | 2,140 | 421,152 | ||||||
Elevance Health, Inc. | 1,300 | 590,512 | ||||||
HCA Healthcare, Inc. | 2,590 | 476,016 | ||||||
Humana, Inc. | 1,060 | 514,301 | ||||||
IQVIA Holdings, Inc. (a) | 4,968 | 899,903 | ||||||
Laboratory Corp. of America Holdings | 2,060 | 421,909 | ||||||
McKesson Corp. | 2,780 | 944,839 | ||||||
UnitedHealth Group, Inc. | 12,240 | 6,181,690 | ||||||
11,945,114 | ||||||||
HOME CONSTRUCTION - 0.2% | ||||||||
D.R. Horton, Inc. | 6,078 | 409,353 | ||||||
Masco Corp. | 8,006 | 373,800 | ||||||
NVR, Inc. (a) | 60 | 239,225 | ||||||
1,022,378 | ||||||||
HOUSEHOLD PRODUCTS - 0.2% | ||||||||
Colgate-Palmolive Co. | 5,297 | 372,114 | ||||||
Estée Lauder Cos., Inc. (The) - Class A | 1,380 | 297,942 | ||||||
670,056 | ||||||||
INDUSTRIAL SUPPORT SERVICES - 0.3% | ||||||||
Fastenal Co. | 11,534 | 531,025 | ||||||
United Rentals, Inc. (a) | 2,830 | 764,440 | ||||||
1,295,465 | ||||||||
INSTITUTIONAL FINANCIAL SERVICES - 1.2% | ||||||||
CME Group, Inc. | 2,190 | 387,915 | ||||||
Goldman Sachs Group, Inc. (The) | 8,620 | 2,526,091 | ||||||
Intercontinental Exchange, Inc. | 5,221 | 471,717 | ||||||
Morgan Stanley | 19,100 | 1,509,091 |
Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
COMMON STOCKS - 98.5% (Continued) | Shares | Fair Value | ||||||
INSTITUTIONAL FINANCIAL SERVICES - 1.2% (Continued) | ||||||||
Nasdaq, Inc. | 8,490 | $ | 481,213 | |||||
5,376,027 | ||||||||
INSURANCE - 0.2% | ||||||||
Aon plc - Class A | 1,260 | 337,516 | ||||||
Marsh & McLennan Cos., Inc. | 2,240 | 334,410 | ||||||
671,926 | ||||||||
INTERNET MEDIA & SERVICES - 7.3% | ||||||||
Alphabet, Inc. - Class A (a) | 113,100 | 10,818,015 | ||||||
Alphabet, Inc. - Class C (a) | 97,320 | 9,357,318 | ||||||
Booking Holdings, Inc. (a) | 355 | 583,340 | ||||||
Meta Platforms, Inc. - Class A (a) | 48,805 | 6,621,862 | ||||||
Netflix, Inc. (a)(b) | 13,262 | 3,122,405 | ||||||
Twitter, Inc. (a) | 18,670 | 818,493 | ||||||
VeriSign, Inc. (a) | 3,410 | 592,317 | ||||||
31,913,750 | ||||||||
LEISURE FACILITIES & SERVICES - 1.2% | ||||||||
Chipotle Mexican Grill, Inc. (a)(b) | 617 | 927,203 | ||||||
Hilton Worldwide Holdings, Inc. | 5,360 | 646,523 | ||||||
McDonald's Corp. | 8,917 | 2,057,509 | ||||||
Starbucks Corp. | 14,692 | 1,237,948 | ||||||
Yum! Brands, Inc. | 5,234 | 556,583 | ||||||
5,425,766 | ||||||||
MACHINERY - 0.5% | ||||||||
Deere & Co. | 4,096 | 1,367,614 | ||||||
Xylem, Inc. | 7,650 | 668,304 | ||||||
2,035,918 | ||||||||
MEDICAL EQUIPMENT & DEVICES - 4.7% | ||||||||
Abbott Laboratories | 27,456 | 2,656,643 | ||||||
Agilent Technologies, Inc. | 8,185 | 994,887 | ||||||
Align Technology, Inc. (a) | 1,711 | 354,365 | ||||||
Bio-Rad Laboratories, Inc. - Class A (a) | 610 | 254,455 | ||||||
Bio-Techne Corp. | 1,340 | 380,560 | ||||||
Cooper Cos., Inc. (The) | 1,161 | 306,388 | ||||||
Danaher Corp. | 14,164 | 3,658,420 | ||||||
DexCom, Inc. (a) | 4,440 | 357,598 | ||||||
Edwards Lifesciences Corp. (a) | 12,250 | 1,012,218 | ||||||
IDEXX Laboratories, Inc. (a) | 2,060 | 671,148 |
Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
COMMON STOCKS - 98.5% (Continued) | Shares | Fair Value | ||||||
MEDICAL EQUIPMENT & DEVICES - 4.7% (Continued) | ||||||||
Illumina, Inc. (a) | 2,758 | $ | 526,199 | |||||
Intuitive Surgical, Inc. (a) | 6,310 | 1,182,746 | ||||||
Mettler-Toledo International, Inc. (a) | 960 | 1,040,755 | ||||||
PerkinElmer, Inc. | 4,400 | 529,452 | ||||||
ResMed, Inc. | 3,038 | 663,195 | ||||||
Thermo Fisher Scientific, Inc. | 9,555 | 4,846,200 | ||||||
Waters Corp. (a) | 1,646 | 443,646 | ||||||
West Pharmaceutical Services, Inc. | 2,490 | 612,739 | ||||||
20,491,614 | ||||||||
OIL & GAS PRODUCERS - 0.1% | ||||||||
Valero Energy Corp. | 5,530 | 590,881 | ||||||
OIL & GAS SERVICES & EQUIPMENT - 0.4% | ||||||||
Baker Hughes Co. | 23,030 | 482,709 | ||||||
Schlumberger Ltd. | 35,490 | 1,274,091 | ||||||
1,756,800 | ||||||||
REAL ESTATE SERVICES - 0.9% | ||||||||
CBRE Group, Inc. - Class A (a) | 54,953 | 3,709,877 | ||||||
REITS - 2.3% | ||||||||
American Tower Corp. | 6,962 | 1,494,741 | ||||||
AvalonBay Communities, Inc. | 3,650 | 672,293 | ||||||
Camden Property Trust | 5,050 | 603,223 | ||||||
Crown Castle, Inc. | 5,259 | 760,188 | ||||||
Duke Realty Corp. | 12,150 | 585,630 | ||||||
Equinix, Inc. | 2,277 | 1,295,249 | ||||||
Extra Space Storage, Inc. | 2,700 | 466,317 | ||||||
Mid-America Apartment Communities, Inc. | 2,290 | 355,110 | ||||||
Prologis, Inc. | 18,467 | 1,876,247 | ||||||
Public Storage (b) | 2,570 | 752,522 | ||||||
SBA Communications Corp. - Class A | 1,668 | 474,796 | ||||||
Simon Property Group, Inc. | 3,670 | 329,383 | ||||||
Weyerhaeuser Co. | 18,700 | 534,072 | ||||||
10,199,771 | ||||||||
RENEWABLE ENERGY - 0.4% | ||||||||
Enphase Energy, Inc. (a) | 4,120 | 1,143,176 |
Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
COMMON STOCKS - 98.5% (Continued) | Shares | Fair Value | ||||||
RENEWABLE ENERGY - 0.4% (Continued) | ||||||||
SolarEdge Technologies, Inc. (a) | 1,750 | $ | 405,055 | |||||
1,548,231 | ||||||||
RETAIL - CONSUMER STAPLES - 1.5% | ||||||||
Costco Wholesale Corp. | 6,543 | 3,090,063 | ||||||
Dollar General Corp. | 3,453 | 828,237 | ||||||
Dollar Tree, Inc. (a) | 3,140 | 427,354 | ||||||
Kroger Co. (The) (b) | 6,970 | 304,937 | ||||||
Target Corp. | 8,164 | 1,211,456 | ||||||
Walmart, Inc. | 5,410 | 701,677 | ||||||
6,563,724 | ||||||||
RETAIL - DISCRETIONARY - 3.8% | ||||||||
Advance Auto Parts, Inc. (b) | 2,420 | 378,343 | ||||||
AutoZone, Inc. (a) | 659 | 1,411,532 | ||||||
Bath & Body Works, Inc. (b) | 23,140 | 754,364 | ||||||
CarMax, Inc. (a) | 5,870 | 387,537 | ||||||
Home Depot, Inc. (The) | 24,156 | 6,665,607 | ||||||
Lowe's Cos., Inc. - Class B | 19,889 | 3,735,353 | ||||||
O'Reilly Automotive, Inc. (a) | 1,810 | 1,273,063 | ||||||
Ross Stores, Inc. | 6,195 | 522,053 | ||||||
TJX Cos., Inc. (The) | 6,093 | 378,497 | ||||||
Tractor Supply Co. (b) | 3,700 | 687,756 | ||||||
Ulta Beauty, Inc. (a) | 1,070 | 429,273 | ||||||
16,623,378 | ||||||||
SEMICONDUCTORS - 7.0% | ||||||||
Advanced Micro Devices, Inc. (a) | 54,826 | 3,473,775 | ||||||
Analog Devices, Inc. | 2,264 | 315,466 | ||||||
Applied Materials, Inc. | 28,006 | 2,294,532 | ||||||
Broadcom, Inc. | 5,539 | 2,459,371 | ||||||
Intel Corp. | 8,710 | 224,457 | ||||||
KLA Corp. | 5,142 | 1,556,124 | ||||||
Lam Research Corp. | 4,223 | 1,545,618 | ||||||
Microchip Technology, Inc. | 11,300 | 689,639 | ||||||
Monolithic Power Systems, Inc. | 1,810 | 657,754 | ||||||
NVIDIA Corp. | 77,516 | 9,409,667 | ||||||
NXP Semiconductors N.V. | 6,240 | 920,462 | ||||||
ON Semiconductor Corp. (a)(b) | 12,610 | 785,981 |
Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
COMMON STOCKS - 98.5% (Continued) | Shares | Fair Value | ||||||
SEMICONDUCTORS - 7.0% (Continued) | ||||||||
QUALCOMM, Inc. | 33,080 | $ | 3,737,378 | |||||
Teradyne, Inc. | 4,990 | 374,999 | ||||||
Texas Instruments, Inc. | 13,417 | 2,076,683 | ||||||
30,521,906 | ||||||||
SOFTWARE - 16.8% | ||||||||
Adobe, Inc. (a) | 15,567 | 4,284,038 | ||||||
Akamai Technologies, Inc. (a) | 6,400 | 514,048 | ||||||
ANSYS, Inc. (a) | 2,738 | 607,015 | ||||||
Autodesk, Inc. (a) | 6,486 | 1,211,585 | ||||||
Cadence Design Systems, Inc. (a) | 10,624 | 1,736,280 | ||||||
Ceridian HCM Holding, Inc. (a) | 13,140 | 734,263 | ||||||
Citrix Systems, Inc. | 5,442 | 565,968 | ||||||
Fortinet, Inc. (a) | 26,840 | 1,318,649 | ||||||
Intuit, Inc. | 5,590 | 2,165,119 | ||||||
Microsoft Corp. | 204,638 | 47,660,190 | ||||||
NortonLifeLock, Inc. | 11,260 | 226,776 | ||||||
Oracle Corp. | 56,130 | 3,427,859 | ||||||
Paycom Software, Inc. (a) | 1,910 | 630,281 | ||||||
PTC, Inc. (a) | 6,510 | 680,946 | ||||||
Salesforce.com, Inc. (a) | 16,047 | 2,308,201 | ||||||
ServiceNow, Inc. (a) | 7,153 | 2,701,044 | ||||||
Synopsys, Inc. (a) | 6,460 | 1,973,595 | ||||||
Tyler Technologies, Inc. (a) | 1,360 | 472,600 | ||||||
73,218,457 | ||||||||
SPECIALTY FINANCE - 0.7% | ||||||||
American Express Co. | 10,000 | 1,349,100 | ||||||
Capital One Financial Corp. | 3,200 | 294,944 | ||||||
Discover Financial Services | 9,570 | 870,104 | ||||||
Synchrony Financial | 21,640 | 610,032 | ||||||
3,124,180 | ||||||||
STEEL - 0.1% | ||||||||
Nucor Corp. | 3,250 | 347,718 | ||||||
TECHNOLOGY HARDWARE - 15.2% | ||||||||
Apple, Inc. | 427,358 | 59,060,876 | ||||||
Arista Networks, Inc. (a) | 7,440 | 839,902 | ||||||
Cisco Systems, Inc. | 67,820 | 2,712,800 | ||||||
F5, Inc. (a) | 4,350 | 629,575 |
Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
COMMON STOCKS - 98.5% (Continued) | Shares | Fair Value | ||||||
TECHNOLOGY HARDWARE - 15.2% (Continued) | ||||||||
HP, Inc. | 30,430 | $ | 758,316 | |||||
Juniper Networks, Inc. | 16,400 | 428,368 | ||||||
NetApp, Inc. | 5,260 | 325,331 | ||||||
Seagate Technology plc | 8,980 | 478,005 | ||||||
Western Digital Corp. (a) | 13,080 | 425,754 | ||||||
Zebra Technologies Corp. - Class A (a) | 2,137 | 559,915 | ||||||
66,218,842 | ||||||||
TECHNOLOGY SERVICES - 6.5% | ||||||||
Accenture plc - Class A | 18,389 | 4,731,490 | ||||||
Automatic Data Processing, Inc. | 13,460 | 3,044,517 | ||||||
Broadridge Financial Solutions, Inc. | 2,596 | 374,655 | ||||||
Cognizant Technology Solutions Corp. - Class A | 8,540 | 490,538 | ||||||
EPAM Systems, Inc. (a) | 1,680 | 608,479 | ||||||
Equifax, Inc. | 2,580 | 442,289 | ||||||
FactSet Research Systems, Inc. | 1,810 | 724,199 | ||||||
Fidelity National Information Services, Inc. | 7,200 | 544,104 | ||||||
Fiserv, Inc. (a) | 7,526 | 704,208 | ||||||
Gartner, Inc. (a) | 4,040 | 1,117,828 | ||||||
International Business Machines Corp. | 5,700 | 677,217 | ||||||
Jack Henry & Associates, Inc. | 3,810 | 694,449 | ||||||
MarketAxess Holdings, Inc. | 1,320 | 293,687 | ||||||
Mastercard, Inc. - Class A | 11,736 | 3,337,014 | ||||||
Moody's Corp. | 3,375 | 820,496 | ||||||
MSCI, Inc. | 1,797 | 757,957 | ||||||
Paychex, Inc. | 2,990 | 335,508 | ||||||
PayPal Holdings, Inc. (a) | 22,317 | 1,920,824 | ||||||
S&P Global, Inc. | 6,854 | 2,092,869 | ||||||
Verisk Analytics, Inc. | 3,035 | 517,558 | ||||||
Visa, Inc. - Class A (b) | 24,203 | 4,299,663 | ||||||
28,529,549 | ||||||||
TRANSPORTATION & LOGISTICS - 1.4% | ||||||||
American Airlines Group, Inc. (a)(b) | 20,190 | 243,088 | ||||||
CSX Corp. | 22,471 | 598,628 | ||||||
Delta Air Lines, Inc. (a) | 11,420 | 320,445 | ||||||
Expeditors International of Washington, Inc. | 4,770 | 421,239 | ||||||
J.B. Hunt Transport Services, Inc. | 2,270 | 355,073 | ||||||
Old Dominion Freight Line, Inc. | 4,700 | 1,169,219 |
Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
COMMON STOCKS - 98.5% (Continued) | Shares | Fair Value | ||||||
TRANSPORTATION & LOGISTICS - 1.4% (Continued) | ||||||||
Union Pacific Corp. | 6,771 | $ | 1,319,126 | |||||
United Airlines Holdings, Inc. (a) | 8,760 | 284,963 | ||||||
United Parcel Service, Inc. - Class B (b) | 9,065 | 1,464,360 | ||||||
6,176,141 | ||||||||
WHOLESALE - DISCRETIONARY - 0.2% | ||||||||
Copart, Inc. (a) | 5,108 | 543,491 | ||||||
Pool Corp. | 1,190 | 378,670 | ||||||
922,161 | ||||||||
TOTAL COMMON STOCKS (COST $285,424,250) | $ | 429,575,976 |
CORPORATE NOTES - 0.9% | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
COMMUNITY DEVELOPMENT - 0.9% | ||||||||||||||||
Calvert Social Investment Foundation, Inc. (c) | 0.400 | % | 12/15/22 | $ | 750,000 | $ | 743,614 | |||||||||
Calvert Social Investment Foundation, Inc. (c) | 3.000 | % | 06/15/23 | 900,000 | 884,978 | |||||||||||
Calvert Social Investment Foundation, Inc. (c) | 3.000 | % | 12/15/23 | 200,000 | 194,271 | |||||||||||
Calvert Social Investment Foundation, Inc. (c) | 1.000 | % | 06/14/24 | 520,000 | 483,217 | |||||||||||
Calvert Social Investment Foundation, Inc. (c) | 3.000 | % | 06/17/24 | 550,000 | 528,356 | |||||||||||
Calvert Social Investment Foundation, Inc. (c) | 3.000 | % | 12/15/24 | 150,000 | 142,625 | |||||||||||
Calvert Social Investment Foundation, Inc. (c) | 2.500 | % | 06/13/25 | 670,000 | 622,663 | |||||||||||
Calvert Social Investment Foundation, Inc. (c) | 2.500 | % | 12/15/25 | 500,000 | 459,488 | |||||||||||
TOTAL CORPORATE NOTES (COST $4,240,000) | $ | 4,059,212 |
MONEY MARKET FUNDS - 0.5% | Shares | Fair Value | ||||||
First American Government Obligations Fund - Class X, 2.77% (d) (COST $2,316,053) | 2,316,053 | $ | 2,316,053 |
Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
INVESTMENT PURCHASED WITH THE CASH PROCEEDS FROM SECURITIES LENDING - 4.2% | Shares | Fair Value | ||||||
Mount Vernon Liquid Assets Portfolio, LLC, 3.16% (d)(e) (COST $18,314,204) | 18,314,204 | $ | 18,314,204 | |||||
TOTAL INVESTMENTS - (COST $310,294,507) - 104.1% | $ | 454,265,445 | ||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (4.1%) | (17,942,165 | ) | ||||||
NET ASSETS - 100.0% | $ | 436,323,280 |
(a) | Non-income producing security. |
(b) | All or a portion of the security is on loan. The total fair value of the securities on loan as of September 30, 2022 was $17,636,613. |
(c) | Restricted and illiquid securities not registered under the Securities Act of 1933 are as follows: |
Acquisition | Current | Fair | % of Net | |||||||||||||
Date | Cost | Value | Assets | |||||||||||||
Calvert Social Investment Foundation, Inc. 0.400%, 12/15/22 | 12/15/21 | $ | 750,000 | $ | 743,614 | 0.2 | % | |||||||||
Calvert Social Investment Foundation, Inc. 3.000%, 06/15/23 | 06/18/18 | 900,000 | 884,978 | 0.2 | % | |||||||||||
Calvert Social Investment Foundation, Inc. 3.000%, 12/15/23 | 12/17/18 | 200,000 | 194,271 | 0.1 | % | |||||||||||
Calvert Social Investment Foundation, Inc. 1.000%, 06/14/24 | 06/15/21 | 520,000 | 483,217 | 0.1 | % | |||||||||||
Calvert Social Investment Foundation, Inc. 3.000%, 06/17/24 | 06/17/19 | 550,000 | 528,356 | 0.1 | % | |||||||||||
Calvert Social Investment Foundation, Inc. 3.000%, 12/15/24 | 12/12/19 | 150,000 | 142,625 | 0.0 | %(f) | |||||||||||
Calvert Social Investment Foundation, Inc. 2.500%, 06/13/25 | 06/12/20 | 670,000 | 622,663 | 0.1 | % | |||||||||||
Calvert Social Investment Foundation, Inc. 2.500%, 12/15/25 | 12/15/20 | 500,000 | 459,488 | 0.1 | % | |||||||||||
$ | 4,240,000 | $ | 4,059,212 | 0.9 | % |
(d) | The rate shown is the 7-day effective yield as of September 30, 2022. |
(e) | The security was purchased with cash collateral received from securities on loan. |
(f) | Percentage rounds to less than 0.1%. |
plc - Public Liability Company
Schedule of Portfolio Investments
Praxis Small Cap Index Fund
September 30, 2022 (Unaudited)
COMMON STOCKS - 98.2% | Shares | Fair Value | ||||||
ADVERTISING & MARKETING - 0.1% | ||||||||
QuinStreet, Inc. (a) | 15,700 | $ | 164,850 | |||||
AEROSPACE & DEFENSE - 0.2% | ||||||||
Barnes Group, Inc. | 6,060 | 175,013 | ||||||
Park Aerospace Corp. | 12,250 | 135,240 | ||||||
310,253 | ||||||||
APPAREL & TEXTILE PRODUCTS - 0.9% | ||||||||
Kontoor Brands, Inc. | 7,330 | 246,361 | ||||||
Movado Group, Inc. | 6,810 | 191,906 | ||||||
Oxford Industries, Inc. | 3,465 | 311,088 | ||||||
Steven Madden Ltd. | 11,935 | 318,306 | ||||||
Wolverine World Wide, Inc. | 13,500 | 207,765 | ||||||
1,275,426 | ||||||||
ASSET MANAGEMENT - 0.7% | ||||||||
B. Riley Financial, Inc. | 3,350 | 149,142 | ||||||
Blucora, Inc. (a) | 15,340 | 296,676 | ||||||
BrightSphere Investment Group, Inc. | 7,030 | 104,817 | ||||||
Virtus Investment Partners, Inc. | 920 | 146,758 | ||||||
WisdomTree Investments, Inc. (b) | 39,470 | 184,720 | ||||||
882,113 | ||||||||
AUTOMOTIVE - 1.0% | ||||||||
American Axle & Manufacturing Holdings, Inc. (a) | 25,710 | 175,599 | ||||||
Dorman Products, Inc. (a) | 4,390 | 360,507 | ||||||
Gentherm, Inc. (a) | 6,580 | 327,223 | ||||||
Methode Electronics, Inc. | 8,170 | 303,516 | ||||||
XPEL, Inc. (a) | 2,280 | 146,923 | ||||||
1,313,768 | ||||||||
BANKING - 12.1% | ||||||||
Allegiance Bancshares, Inc. | 6,260 | 260,604 | ||||||
Ameris Bancorp | 10,274 | 459,350 | ||||||
Axos Financial, Inc. (a) | 8,590 | 294,036 | ||||||
Banc of California, Inc. | 16,350 | 261,109 | ||||||
BancFirst Corp. | 6,310 | 564,556 | ||||||
Bancorp, Inc. (The) (a) | 14,120 | 310,358 | ||||||
BankUnited, Inc. (b) | 6,000 | 205,020 | ||||||
Banner Corp. | 6,070 | 358,616 | ||||||
Berkshire Hills Bancorp, Inc. | 14,650 | 399,945 |
Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.2% (Continued) | Shares | Fair Value | ||||||
BANKING - 12.1% (Continued) | ||||||||
Brookline Bancorp, Inc. | 15,670 | $ | 182,555 | |||||
Capitol Federal Financial, Inc. | 21,140 | 175,462 | ||||||
Central Pacific Financial Corp. | 5,870 | 121,450 | ||||||
City Holding Co. | 2,750 | 243,897 | ||||||
Columbia Banking System, Inc. | 14,740 | 425,839 | ||||||
Community Bank System, Inc. | 5,920 | 355,674 | ||||||
Customers Bancorp, Inc. (a) | 4,860 | 143,273 | ||||||
CVB Financial Corp. | 26,090 | 660,599 | ||||||
Dime Community Bancshares, Inc. | 11,619 | 340,204 | ||||||
Eagle Bancorp, Inc. | 2,540 | 113,843 | ||||||
FB Financial Corp. | 6,486 | 247,830 | ||||||
First BanCorp. | 38,970 | 533,110 | ||||||
First Bancorp/NC | 5,760 | 210,701 | ||||||
First Commonwealth Financial Corp. | 16,550 | 212,502 | ||||||
First Financial Bancorp | 10,000 | 210,800 | ||||||
First Hawaiian, Inc. | 28,320 | 697,522 | ||||||
Flagstar Bancorp, Inc. | 9,250 | 308,950 | ||||||
Hanmi Financial Corp. | 9,870 | 233,722 | ||||||
Heritage Financial Corp. | 8,730 | 231,083 | ||||||
HomeStreet, Inc. | 5,810 | 167,386 | ||||||
Hope Bancorp, Inc. | 22,210 | 280,734 | ||||||
Independent Bank Corp. | 6,900 | 514,257 | ||||||
Independent Bank Group, Inc. | 6,540 | 401,491 | ||||||
Lakeland Financial Corp. | 5,160 | 375,700 | ||||||
National Bank Holdings Corp. - Class A | 6,570 | 243,024 | ||||||
NBT Bancorp, Inc. | 3,260 | 123,717 | ||||||
Northwest Bancshares, Inc. | 8,470 | 114,430 | ||||||
OFG Bancorp | 11,530 | 289,749 | ||||||
Pacific Premier Bancorp, Inc. | 11,826 | 366,133 | ||||||
Park National Corp. | 2,050 | 255,184 | ||||||
Pathward Financial, Inc. | 6,750 | 222,480 | ||||||
Preferred Bank | 2,910 | 189,819 | ||||||
Provident Financial Services, Inc. | 14,360 | 280,020 | ||||||
Renasant Corp. | 9,410 | 294,345 | ||||||
Seacoast Banking Corp. of Florida | 8,510 | 257,257 | ||||||
ServisFirst Bancshares, Inc. (b) | 10,670 | 853,600 | ||||||
Simmons First National Corp. - Class A | 20,420 | 444,952 | ||||||
SiriusPoint Ltd. (a) | 790 | 3,910 |
Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.2% (Continued) | Shares | Fair Value | ||||||
BANKING - 12.1% (Continued) | ||||||||
Southside Bancshares, Inc. | 4,987 | $ | 176,340 | |||||
Triumph Bancorp, Inc. (a) | 5,040 | 273,924 | ||||||
Trustmark Corp. | 7,370 | 225,743 | ||||||
United Community Banks, Inc. | 15,290 | 506,099 | ||||||
Veritex Holdings, Inc. | 13,050 | 346,999 | ||||||
Westamerica BanCorp. | 4,060 | 212,297 | ||||||
WSFS Financial Corp. | 10,230 | 475,286 | ||||||
16,657,486 | ||||||||
BEVERAGES - 0.1% | ||||||||
National Beverage Corp. | 4,440 | 171,118 | ||||||
BIOTECH & PHARMA - 4.2% | ||||||||
Amphastar Pharmaceuticals, Inc. (a) | 6,470 | 181,807 | ||||||
Anika Therapeutics, Inc. (a) | 4,520 | 107,576 | ||||||
Arcus Biosciences, Inc. (a) | 10,060 | 263,170 | ||||||
Avid Bioservices, Inc. (a) | 5,910 | 112,999 | ||||||
Catalyst Pharmaceutical Partners, Inc. (a) | 17,120 | 219,650 | ||||||
Coherus Biosciences, Inc. (a) | 28,080 | 269,849 | ||||||
Cytokinetics, Inc. (a)(b) | 16,450 | 797,002 | ||||||
Dynavax Technologies Corp. (a)(b) | 20,100 | 209,844 | ||||||
Eagle Pharmaceuticals, Inc. (a) | 4,970 | 131,307 | ||||||
Emergent BioSolutions, Inc. (a) | 8,680 | 182,193 | ||||||
Enanta Pharmaceuticals, Inc. (a) | 4,260 | 220,966 | ||||||
Harmony Biosciences Holdings, Inc. (a) | 4,600 | 203,734 | ||||||
Heska Corp. (a)(b) | 1,950 | 142,194 | ||||||
Innoviva, Inc. (a)(b) | 11,970 | 138,972 | ||||||
Ironwood Pharmaceuticals, Inc. (a)(b) | 54,490 | 564,516 | ||||||
Ligand Pharmaceuticals, Inc. (a) | 2,760 | 237,664 | ||||||
Nektar Therapeutics (a) | 47,670 | 152,544 | ||||||
Pacira BioSciences, Inc. (a) | 6,110 | 324,991 | ||||||
Prestige Consumer Healthcare, Inc. (a) | 6,630 | 330,373 | ||||||
REGENXBIO, Inc. (a) | 5,140 | 135,850 | ||||||
Supernus Pharmaceuticals, Inc. (a) | 7,570 | 256,245 | ||||||
Vanda Pharmaceuticals, Inc. (a) | 10,890 | 107,593 | ||||||
Vir Biotechnology, Inc. (a)(b) | 10,170 | 196,078 | ||||||
Xencor, Inc. (a) | 8,400 | 218,232 | ||||||
5,705,349 |
Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.2% (Continued) | Shares | Fair Value | ||||||
CHEMICALS - 3.2% | ||||||||
AdvanSix, Inc. | 10,540 | $ | 338,334 | |||||
Balchem Corp. | 6,460 | 785,407 | ||||||
H.B. Fuller Co. | 10,240 | 615,424 | ||||||
Innospec, Inc. | 4,330 | 370,951 | ||||||
Materion Corp. | 5,040 | 403,200 | ||||||
Quaker Chemical Corp. (b) | 1,420 | 205,020 | ||||||
Rogers Corp. (a) | 3,610 | 873,187 | ||||||
Stepan Co. | 3,960 | 370,933 | ||||||
Trinseo plc | 1,160 | 21,251 | ||||||
WD-40 Co. | 2,500 | 439,350 | ||||||
4,423,057 | ||||||||
COMMERCIAL SUPPORT SERVICES - 3.4% | ||||||||
ABM Industries, Inc. | 13,350 | 510,370 | ||||||
AMN Healthcare Services, Inc. (a) | 9,180 | 972,713 | ||||||
Brady Corp. - Class A | 19,830 | 827,506 | ||||||
CorVel Corp. (a) | 2,390 | 330,848 | ||||||
Cross Country Healthcare, Inc. (a)(b) | 5,410 | 153,482 | ||||||
Harsco Corp. (a) | 29,190 | 109,170 | ||||||
Healthcare Services Group, Inc. | 6,440 | 77,860 | ||||||
Heidrick & Struggles International, Inc. | 6,300 | 163,737 | ||||||
Kelly Services, Inc. - Class A | 11,930 | 162,129 | ||||||
Korn Ferry | 8,880 | 416,916 | ||||||
TrueBlue, Inc. (a) | 22,230 | 424,148 | ||||||
UniFirst Corp. | 1,790 | 301,132 | ||||||
Viad Corp. (a) | 5,500 | 173,690 | ||||||
4,623,701 | ||||||||
CONSTRUCTION MATERIALS - 0.1% | ||||||||
Apogee Enterprises, Inc. | 4,720 | 180,398 | ||||||
CONSUMER SERVICES - 1.2% | ||||||||
Adtalem Global Education, Inc. (a) | 12,630 | 460,363 | ||||||
Medifast, Inc. | 1,780 | 192,881 | ||||||
Perdoceo Education Corp. (a) | 16,740 | 172,422 | ||||||
Strategic Education, Inc. | 5,770 | 354,336 | ||||||
Stride, Inc. (a)(b) | 8,120 | 341,283 | ||||||
WW International, Inc. (a) | 29,160 | 114,599 | ||||||
1,635,884 |
Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.2% (Continued) | Shares | Fair Value | ||||||
CONTAINERS & PACKAGING - 0.3% | ||||||||
Myers Industries, Inc. | 10,120 | $ | 166,676 | |||||
O-I Glass, Inc. (a) | 22,780 | 295,001 | ||||||
461,677 | ||||||||
E-COMMERCE DISCRETIONARY - 0.1% | ||||||||
PetMed Express, Inc. | 8,210 | 160,259 | ||||||
ELECTRIC UTILITIES - 1.0% | ||||||||
Avista Corp. | 18,490 | 685,055 | ||||||
Unitil Corp. | 15,560 | 722,762 | ||||||
1,407,817 | ||||||||
ELECTRICAL EQUIPMENT - 2.6% | ||||||||
AAON, Inc. (b) | 11,030 | 594,296 | ||||||
Advanced Energy Industries, Inc. (b) | 6,290 | 486,909 | ||||||
Alarm.com Holdings, Inc. (a) | 7,330 | 475,424 | ||||||
Badger Meter, Inc. | 6,300 | 582,057 | ||||||
FARO Technologies, Inc. (a) | 5,290 | 145,158 | ||||||
Itron, Inc. (a) | 8,320 | 350,355 | ||||||
Mesa Laboratories, Inc. (b) | 1,460 | 205,612 | ||||||
OSI Systems, Inc. (a) | 2,550 | 183,753 | ||||||
SPX Technologies, Inc. (a) | 9,870 | 545,021 | ||||||
3,568,585 | ||||||||
ENGINEERING & CONSTRUCTION - 2.0% | ||||||||
Arcosa, Inc. | 7,940 | 454,009 | ||||||
Comfort Systems USA, Inc. | 5,920 | 576,194 | ||||||
Exponent, Inc. | 8,470 | 742,565 | ||||||
Frontdoor, Inc. (a) | 8,360 | 170,460 | ||||||
Granite Construction, Inc. | 7,530 | 191,187 | ||||||
Installed Building Products, Inc. | 3,410 | 276,176 | ||||||
MYR Group, Inc. (a) | 1,260 | 106,760 | ||||||
NV5 Global, Inc. (a) | 2,110 | 261,260 | ||||||
2,778,611 | ||||||||
FOOD - 1.6% | ||||||||
B&G Foods, Inc. (b) | 10,010 | 165,065 | ||||||
Cal-Maine Foods, Inc. | 6,880 | 382,459 | ||||||
Hostess Brands, Inc. (a) | 28,140 | 653,974 | ||||||
Simply Good Foods Co. (The) (a) | 16,280 | 520,797 | ||||||
TreeHouse Foods, Inc. (a) | 9,670 | 410,201 | ||||||
2,132,496 |
Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.2% (Continued) | Shares | Fair Value | ||||||
FORESTRY, PAPER & WOOD PRODUCTS - 0.9% | ||||||||
Boise Cascade Co. | 7,010 | $ | 416,815 | |||||
Sylvamo Corp. | 2,480 | 84,072 | ||||||
UFP Industries, Inc. | 9,070 | 654,491 | ||||||
1,155,378 | ||||||||
GAS & WATER UTILITIES - 1.8% | ||||||||
American States Water Co. | 8,490 | 661,795 | ||||||
California Water Service Group (b) | 18,230 | 960,539 | ||||||
Middlesex Water Co. (b) | 10,930 | 843,796 | ||||||
2,466,130 | ||||||||
HEALTH CARE FACILITIES & SERVICES - 2.6% | ||||||||
AdaptHealth Corp. (a) | 5,320 | 99,910 | ||||||
Addus HomeCare Corp. (a) | 2,750 | 261,910 | ||||||
Community Health Systems, Inc. (a) | 9,500 | 20,425 | ||||||
Covetrus, Inc. (a) | 21,810 | 455,393 | ||||||
Ensign Group, Inc. (The) | 8,010 | 636,795 | ||||||
Fulgent Genetics, Inc. (a)(b) | 2,920 | 111,311 | ||||||
Joint Corp. (The) (a) | 12,140 | 190,719 | ||||||
ModivCare, Inc. (a) | 2,130 | 212,318 | ||||||
NeoGenomics, Inc. (a) | 17,840 | 153,602 | ||||||
Owens & Minor, Inc. | 12,410 | 299,081 | ||||||
Pediatrix Medical Group, Inc. (a) | 14,540 | 240,055 | ||||||
Pennant Group, Inc. (The) (a) | 10,440 | 108,680 | ||||||
RadNet, Inc. (a) | 11,320 | 230,362 | ||||||
Select Medical Holdings Corp. (b) | 16,840 | 372,164 | ||||||
U.S. Physical Therapy, Inc. (b) | 2,080 | 158,122 | ||||||
3,550,847 | ||||||||
HOME & OFFICE PRODUCTS - 0.5% | ||||||||
HNI Corp. (b) | 11,550 | 306,190 | ||||||
iRobot Corp. (a) | 3,560 | 200,535 | ||||||
Tupperware Brands Corp. (a) | 24,740 | 162,047 | ||||||
668,772 | ||||||||
HOME CONSTRUCTION - 1.9% | ||||||||
American Woodmark Corp. (a) | 2,170 | 95,176 | ||||||
Cavco Industries, Inc. (a)(b) | 1,500 | 308,640 | ||||||
Century Communities, Inc. | 4,430 | 189,515 | ||||||
Green Brick Partners, Inc. (a) | 4,260 | 91,079 | ||||||
Interface, Inc. | 24,150 | 217,108 | ||||||
LGI Homes, Inc. (a) | 3,980 | 323,853 |
Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.2% (Continued) | Shares | Fair Value | ||||||
HOME CONSTRUCTION - 1.9% (Continued) | ||||||||
M/I Homes, Inc. (a) | 3,510 | $ | 127,167 | |||||
MDC Holdings, Inc. | 10,555 | 289,418 | ||||||
Meritage Homes Corp. (a) | 6,110 | 429,350 | ||||||
Patrick Industries, Inc. | 2,420 | 106,093 | ||||||
PGT Innovations, Inc. (a) | 9,950 | 208,552 | ||||||
TRI Pointe Homes, Inc. (a) | 14,490 | 218,944 | ||||||
2,604,895 | ||||||||
HOUSEHOLD PRODUCTS - 0.7% | ||||||||
Clearwater Paper Corp. (a) | 1,910 | 71,816 | ||||||
e.l.f. Beauty, Inc. (a) | 8,410 | 316,384 | ||||||
Edgewell Personal Care Co. | 5,910 | 221,034 | ||||||
Inter Parfums, Inc. | 2,400 | 181,104 | ||||||
Quanex Building Products Corp. | 11,930 | 216,649 | ||||||
1,006,987 | ||||||||
INDUSTRIAL INTERMEDIATE PRODUCTS - 1.4% | ||||||||
AZZ, Inc. | 4,910 | 179,264 | ||||||
EnPro Industries, Inc. | 6,060 | 514,979 | ||||||
Gibraltar Industries, Inc. (a) | 5,860 | 239,850 | ||||||
Insteel Industries, Inc. | 8,650 | 229,484 | ||||||
Mueller Industries, Inc. (b) | 8,500 | 505,240 | ||||||
Proto Labs, Inc. (a) | 1,050 | 38,251 | ||||||
Standex International Corp. | 2,030 | 165,750 | ||||||
1,872,818 | ||||||||
INDUSTRIAL SUPPORT SERVICES - 1.1% | ||||||||
Applied Industrial Technologies, Inc. | 8,380 | 861,296 | ||||||
DXP Enterprises, Inc. (a) | 5,460 | 129,293 | ||||||
Resideo Technologies, Inc. (a) | 24,870 | 474,022 | ||||||
1,464,611 | ||||||||
INSTITUTIONAL FINANCIAL SERVICES - 0.4% | ||||||||
Piper Sandler Cos. | 3,730 | 390,680 | ||||||
StoneX Group, Inc. (a) | 2,410 | 199,886 | ||||||
590,566 | ||||||||
INSURANCE - 1.9% | ||||||||
Ambac Financial Group, Inc. (a)(b) | 10,910 | 139,102 | ||||||
American Equity Investment Life Holding Co. | 15,500 | 577,995 | ||||||
Assured Guaranty Ltd. | 8,310 | 402,619 | ||||||
Employers Holdings, Inc. | 3,240 | 111,748 | ||||||
Genworth Financial, Inc. - Class A (a) | 116,460 | 407,610 |
Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.2% (Continued) | Shares | Fair Value | ||||||
INSURANCE - 1.9% (Continued) | ||||||||
NMI Holdings, Inc. - Class A (a) | 9,380 | $ | 191,071 | |||||
Palomar Holdings, Inc. (a) | 3,850 | 322,322 | ||||||
Safety Insurance Group, Inc. | 610 | 49,752 | ||||||
SelectQuote, Inc. (a) | 40,340 | 29,448 | ||||||
Trupanion, Inc. (a)(b) | 6,280 | 373,220 | ||||||
2,604,887 | ||||||||
INTERNET MEDIA & SERVICES - 0.6% | ||||||||
Cars.com, Inc. (a) | 16,270 | 187,105 | ||||||
Shutterstock, Inc. (b) | 3,610 | 181,114 | ||||||
TechTarget, Inc. (a) | 4,120 | 243,904 | ||||||
Yelp, Inc. (a) | 7,330 | 248,560 | ||||||
860,683 | ||||||||
LEISURE FACILITIES & SERVICES - 2.3% | ||||||||
Bloomin' Brands, Inc. (b) | 18,470 | 338,555 | ||||||
Brinker International, Inc. (a) | 11,120 | 277,777 | ||||||
Cheesecake Factory, Inc. (The) (b) | 12,560 | 367,757 | ||||||
Chuy's Holdings, Inc. (a) | 6,950 | 161,101 | ||||||
Cinemark Holdings, Inc. (a)(b) | 24,860 | 301,054 | ||||||
Dave & Buster's Entertainment, Inc. (a)(b) | 9,190 | 285,166 | ||||||
Dine Brands Global, Inc. | 3,280 | 208,477 | ||||||
El Pollo Loco Holdings, Inc. (a) | 21,940 | 195,705 | ||||||
Jack in the Box, Inc. | 4,400 | 325,908 | ||||||
Marcus Corp. (The) | 14,120 | 196,127 | ||||||
Shake Shack, Inc. - Class A (a) | 8,440 | 379,631 | ||||||
Six Flags Entertainment Corp. (a) | 4,850 | 85,845 | ||||||
3,123,103 | ||||||||
LEISURE PRODUCTS - 0.5% | ||||||||
LCI Industries | 4,750 | 481,935 | ||||||
Winnebago Industries, Inc. (b) | 3,720 | 197,941 | ||||||
679,876 | ||||||||
MACHINERY - 2.3% | ||||||||
Alamo Group, Inc. | 1,800 | 220,086 | ||||||
Astec Industries, Inc. | 4,830 | 150,648 | ||||||
Enerpac Tool Group Corp. | 19,940 | 355,530 | ||||||
ESCO Technologies, Inc. | 1,640 | 120,442 | ||||||
Franklin Electric Co., Inc. | 6,300 | 514,773 | ||||||
Hillenbrand, Inc. | 4,920 | 180,662 | ||||||
Ichor Holdings Ltd. (a) | 3,980 | 96,356 |
Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.2% (Continued) | Shares | Fair Value | ||||||
MACHINERY - 2.3% (Continued) | ||||||||
John Bean Technologies Corp. | 5,325 | $ | 457,950 | |||||
Lindsay Corp. | 3,140 | 449,899 | ||||||
Tennant Co. | 3,800 | 214,928 | ||||||
Titan International, Inc. (a) | 33,750 | 409,725 | ||||||
3,170,999 | ||||||||
MEDICAL EQUIPMENT & DEVICES - 3.6% | ||||||||
AngioDynamics, Inc. (a) | 10,480 | 214,421 | ||||||
Avanos Medical, Inc. (a) | 4,050 | 88,209 | ||||||
BioLife Solutions, Inc. (a)(b) | 7,490 | 170,398 | ||||||
CONMED Corp. | 3,920 | 314,267 | ||||||
Cutera, Inc. (a)(b) | 4,980 | 227,088 | ||||||
Embecta Corp. | 9,350 | 269,187 | ||||||
Glaukos Corp. (a) | 7,100 | 378,004 | ||||||
Inogen, Inc. (a) | 2,390 | 58,029 | ||||||
Integer Holdings Corp. (a) | 4,160 | 258,877 | ||||||
Lantheus Holdings, Inc. (a) | 13,813 | 971,468 | ||||||
LeMaitre Vascular, Inc. | 5,530 | 280,260 | ||||||
Meridian Bioscience, Inc. (a) | 8,520 | 268,636 | ||||||
Merit Medical Systems, Inc. (a) | 10,140 | 573,011 | ||||||
Myriad Genetics, Inc. (a) | 13,280 | 253,382 | ||||||
OraSure Technologies, Inc. (a) | 51,910 | 196,739 | ||||||
Varex Imaging Corp. (a) | 8,210 | 173,559 | ||||||
Vericel Corp. (a) | 8,820 | 204,624 | ||||||
Zimvie, Inc. (a) | 9,430 | 93,074 | ||||||
4,993,233 | ||||||||
METALS & MINING - 1.7% | ||||||||
Arconic Corp. (a) | 18,740 | 319,330 | ||||||
Century Aluminum Co. (a) | 22,250 | 117,480 | ||||||
Encore Wire Corp. (b) | 3,620 | 418,255 | ||||||
Kaiser Aluminum Corp. | 4,330 | 265,645 | ||||||
Livent Corp. (a)(b) | 35,680 | 1,093,592 | ||||||
SunCoke Energy, Inc. | 30,440 | 176,856 | ||||||
2,391,158 | ||||||||
OIL & GAS PRODUCERS - 0.3% | ||||||||
Ranger Oil Corp. - Class A | 10,960 | 344,692 | ||||||
OIL & GAS SERVICES & EQUIPMENT - 0.9% | ||||||||
Core Laboratories N.V. (b) | 62,440 | 841,691 |
Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.2% (Continued) | Shares | Fair Value | ||||||
OIL & GAS SERVICES & EQUIPMENT - 0.9% (Continued) | ||||||||
DMC Global, Inc. (a) | 9,380 | $ | 149,892 | |||||
U.S. Silica Holdings, Inc. (a) | 17,890 | 195,896 | ||||||
1,187,479 | ||||||||
PUBLISHING & BROADCASTING - 0.3% | ||||||||
E.W. Scripps Co. (The) - Class A (a) | 9,180 | 103,458 | ||||||
Gannett Co., Inc. (a) | 44,487 | 68,065 | ||||||
Scholastic Corp. | 8,410 | 258,692 | ||||||
430,215 | ||||||||
REAL ESTATE OWNERS & DEVELOPERS - 0.1% | ||||||||
St. Joe Co. (The) | 5,140 | 164,634 | ||||||
REAL ESTATE SERVICES - 0.4% | ||||||||
Anywhere Real Estate, Inc. (a) | 32,310 | 262,034 | ||||||
Marcus & Millichap, Inc. | 3,450 | 113,091 | ||||||
RE/MAX Holdings, Inc. - Class A | 4,840 | 91,525 | ||||||
466,650 | ||||||||
REITS - 6.5% | ||||||||
Acadia Realty Trust | 17,540 | 221,355 | ||||||
Agree Realty Corp. (b) | 14,010 | 946,796 | ||||||
Alexander & Baldwin, Inc. | 7,290 | 120,868 | ||||||
American Assets Trust, Inc. | 6,220 | 159,978 | ||||||
Armada Hoffler Properties, Inc. | 12,440 | 129,127 | ||||||
Brandywine Realty Trust | 55,840 | 376,920 | ||||||
CareTrust REIT, Inc. | 12,440 | 225,288 | ||||||
Centerspace | 3,050 | 205,326 | ||||||
Chatham Lodging Trust (a) | 14,320 | 141,338 | ||||||
DiamondRock Hospitality Co. | 41,780 | 313,768 | ||||||
Diversified Healthcare Trust | 107,560 | 106,495 | ||||||
Easterly Government Properties, Inc. (b) | 9,670 | 152,496 | ||||||
Essential Properties Realty Trust, Inc. | 9,360 | 182,052 | ||||||
Four Corners Property Trust, Inc. | 4,460 | 107,887 | ||||||
Franklin BSP Realty Trust, Inc. (b) | 17,852 | 192,266 | ||||||
Franklin Street Properties Corp. | 32,340 | 85,054 | ||||||
Getty Realty Corp. | 8,140 | 218,885 | ||||||
Hersha Hospitality Trust | 18,960 | 151,301 | ||||||
Industrial Logistics Properties Trust | 9,270 | 50,985 | ||||||
Innovative Industrial Properties, Inc. | 4,430 | 392,055 |
Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.2% (Continued) | Shares | Fair Value | ||||||
REITS - 6.5% (Continued) | ||||||||
iStar, Inc. | 14,210 | $ | 131,585 | |||||
LTC Properties, Inc. | 7,200 | 269,640 | ||||||
LXP Industrial Trust | 32,120 | 294,219 | ||||||
NexPoint Residential Trust, Inc. | 3,250 | 150,182 | ||||||
Office Properties Income Trust | 8,060 | 113,243 | ||||||
Orion Office REIT, Inc. | 2,870 | 25,113 | ||||||
Outfront Media, Inc. | 5,670 | 86,127 | ||||||
Retail Opportunity Investments Corp. | 15,690 | 215,894 | ||||||
RPT Realty | 19,470 | 147,193 | ||||||
Safehold, Inc. (b) | 3,430 | 90,758 | ||||||
Saul Centers, Inc. | 3,420 | 128,250 | ||||||
SITE Centers Corp. | 33,690 | 360,820 | ||||||
Summit Hotel Properties, Inc. | 23,710 | 159,331 | ||||||
Sunstone Hotel Investors, Inc. | 10,630 | 100,135 | ||||||
Tanger Factory Outlet Centers, Inc. | 23,000 | 314,640 | ||||||
Uniti Group, Inc. | 35,680 | 247,976 | ||||||
Urban Edge Properties | 13,970 | 186,360 | ||||||
Urstadt Biddle Properties, Inc. - Class A | 6,520 | 101,125 | ||||||
Veris Residential, Inc. (a) | 20,870 | 237,292 | ||||||
Washington Real Estate Investment Trust | 21,530 | 378,067 | ||||||
Whitestone REIT | 58,810 | 497,533 | ||||||
Xenia Hotel & Resorts, Inc. | 18,240 | 251,530 | ||||||
8,967,253 | ||||||||
RENEWABLE ENERGY - 0.3% | ||||||||
FutureFuel Corp. | 18,910 | 114,216 | ||||||
Green Plains, Inc. (a) | 10,370 | 301,456 | ||||||
415,672 | ||||||||
RETAIL - CONSUMER STAPLES - 0.9% | ||||||||
Big Lots, Inc. (b) | 5,570 | 86,948 | ||||||
OptimizeRx, Corp. (a) | 4,280 | 63,430 | ||||||
PriceSmart, Inc. (b) | 2,690 | 154,917 | ||||||
SpartanNash Co. | 32,510 | 943,440 | ||||||
1,248,735 | ||||||||
RETAIL - DISCRETIONARY - 5.2% | ||||||||
Abercrombie & Fitch Co. - Class A (a)(b) | 13,550 | 210,702 | ||||||
Academy Sports & Outdoors, Inc. (b) | 16,030 | 676,145 | ||||||
America's Car-Mart, Inc. (a) | 1,440 | 87,869 | ||||||
Asbury Automotive Group, Inc. (a)(b) | 3,100 | 468,410 |
Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.2% (Continued) | Shares | Fair Value | ||||||
RETAIL - DISCRETIONARY - 5.2% (Continued) | ||||||||
Bed Bath & Beyond, Inc. (a)(b) | 42,460 | $ | 258,581 | |||||
Boot Barn Holdings, Inc. (a) | 4,560 | 266,578 | ||||||
Buckle, Inc. (The) (b) | 5,380 | 170,331 | ||||||
Caleres, Inc. | 10,210 | 247,286 | ||||||
Chico's FAS, Inc. (a)(b) | 40,780 | 197,375 | ||||||
Children's Place, Inc. (The) (a)(b) | 4,250 | 131,283 | ||||||
Conn's, Inc. (a) | 22,140 | 156,751 | ||||||
Designer Brands, Inc. - Class A | 11,180 | 171,166 | ||||||
Ethan Allen Interiors, Inc. | 16,450 | 347,753 | ||||||
Genesco, Inc. (a) | 3,300 | 129,756 | ||||||
GMS, Inc. (a) | 7,050 | 282,071 | ||||||
Group 1 Automotive, Inc. | 3,050 | 435,754 | ||||||
Guess?, Inc. | 9,260 | 135,844 | ||||||
Hibbett, Inc. | 5,140 | 256,023 | ||||||
La-Z-Boy, Inc. (b) | 6,970 | 157,313 | ||||||
LL Flooring Holdings, Inc. (a) | 19,180 | 132,917 | ||||||
MarineMax, Inc. (a)(b) | 10,070 | 299,985 | ||||||
Monro, Inc. | 6,250 | 271,625 | ||||||
National Vision Holdings, Inc. (a)(b) | 7,720 | 252,058 | ||||||
ODP Corp. (The) (a) | 7,677 | 269,847 | ||||||
Sally Beauty Holdings, Inc. (a) | 15,060 | 189,756 | ||||||
Shoe Carnival, Inc. (b) | 4,710 | 100,982 | ||||||
Signet Jewelers Ltd. (b) | 5,440 | 311,114 | ||||||
Sleep Number Corp. (a) | 4,070 | 137,607 | ||||||
Urban Outfitters, Inc. (a) | 10,750 | 211,238 | ||||||
Zumiez, Inc. (a) | 8,440 | 181,713 | ||||||
7,145,833 | ||||||||
SEMICONDUCTORS - 3.9% | ||||||||
Alpha & Omega Semiconductor Ltd. (a)(b) | 6,060 | 186,406 | ||||||
Axcelis Technologies, Inc. (a) | 16,000 | 968,960 | ||||||
CEVA, Inc. (a) | 4,260 | 111,740 | ||||||
Cohu, Inc. (a)(b) | 7,270 | 187,421 | ||||||
CTS Corp. | 6,010 | 250,316 | ||||||
Diodes, Inc. (a) | 6,230 | 404,389 | ||||||
FormFactor, Inc. (a) | 11,450 | 286,822 | ||||||
Kulicke & Soffa Industries, Inc. (b) | 9,850 | 379,521 | ||||||
MaxLinear, Inc. (a)(b) | 12,360 | 403,183 | ||||||
Onto Innovation, Inc. (a) | 15,157 | 970,806 |
Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.2% (Continued) | Shares | Fair Value | ||||||
SEMICONDUCTORS - 3.9% (Continued) | ||||||||
Photronics, Inc. (a) | 16,690 | $ | 244,008 | |||||
Rambus, Inc. (a) | 18,385 | 467,347 | ||||||
SMART Global Holdings, Inc. (a) | 11,870 | 188,377 | ||||||
Ultra Clean Holdings, Inc. (a) | 3,800 | 97,850 | ||||||
Veeco Instruments, Inc. (a)(b) | 8,620 | 157,918 | ||||||
5,305,064 | ||||||||
SOFTWARE - 3.0% | ||||||||
Agilysys, Inc. (a) | 6,190 | 342,616 | ||||||
Allscripts Healthcare Solutions, Inc. (a)(b) | 23,320 | 355,164 | ||||||
Apollo Medical Holdings, Inc. (a)(b) | 6,870 | 267,930 | ||||||
Cerence, Inc. (a) | 6,700 | 105,525 | ||||||
Consensus Cloud Solutions, Inc. (a) | 4,440 | 210,012 | ||||||
Digi International, Inc. (a) | 11,930 | 412,420 | ||||||
Digital Turbine, Inc. (a) | 5,720 | 82,425 | ||||||
Donnelley Financial Solutions, Inc. (a) | 6,550 | 242,153 | ||||||
Ebix, Inc. (b) | 7,800 | 147,966 | ||||||
LivePerson, Inc. (a) | 9,500 | 89,490 | ||||||
NextGen Healthcare, Inc. (a) | 7,250 | 128,325 | ||||||
PDF Solutions, Inc. (a) | 9,190 | 225,431 | ||||||
Progress Software Corp. (b) | 6,410 | 272,746 | ||||||
Simulations Plus, Inc. | 2,410 | 116,981 | ||||||
SPS Commerce, Inc. (a) | 5,620 | 698,173 | ||||||
Thryv Holdings, Inc. (a) | 9,180 | 209,579 | ||||||
Xperi, Inc. (a) | 14,711 | 208,014 | ||||||
4,114,950 | ||||||||
SPECIALTY FINANCE - 2.8% | ||||||||
Apollo Commercial Real Estate Finance, Inc. | 31,690 | 263,027 | ||||||
ARMOUR Residential REIT, Inc. (b) | 33,710 | 164,168 | ||||||
Deluxe Corp. | 18,520 | 308,358 | ||||||
Ellington Financial, Inc. (b) | 15,050 | 171,119 | ||||||
Encore Capital Group, Inc. (a)(b) | 7,690 | 349,741 | ||||||
Enova International, Inc. (a) | 7,260 | 212,500 | ||||||
Granite Point Mortgage Trust, Inc. | 14,530 | 93,573 | ||||||
Invesco Mortgage Capital, Inc. | 18,696 | 207,526 | ||||||
KKR Real Estate Finance Trust, Inc. (b) | 6,670 | 108,388 | ||||||
LendingTree, Inc. (a) | 1,570 | 37,460 | ||||||
Mr. Cooper Group, Inc. (a) | 12,660 | 512,730 | ||||||
New York Mortgage Trust, Inc. | 44,650 | 104,481 |
Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.2% (Continued) | Shares | Fair Value | ||||||
SPECIALTY FINANCE - 2.8% (Continued) | ||||||||
PennyMac Mortgage Investment Trust (b) | 23,960 | $ | 282,249 | |||||
PRA Group, Inc. (a)(b) | 3,170 | 104,166 | ||||||
Redwood Trust, Inc. | 19,810 | 113,709 | ||||||
Stewart Information Services Corp. (b) | 3,830 | 167,141 | ||||||
Two Harbors Investment Corp. (b) | 41,120 | 136,518 | ||||||
Walker & Dunlop, Inc. | 6,340 | 530,848 | ||||||
3,867,702 | ||||||||
STEEL - 0.7% | ||||||||
ATI, Inc. (a)(b) | 17,890 | 476,053 | ||||||
Carpenter Technology Corp. | 6,590 | 205,213 | ||||||
TimkenSteel Corp. (a) | 17,280 | 259,027 | ||||||
940,293 | ||||||||
TECHNOLOGY HARDWARE - 4.8% | ||||||||
3D Systems Corp. (a)(b) | 16,470 | 131,431 | ||||||
A10 Networks, Inc. | 15,080 | 200,112 | ||||||
ADTRAN, Inc. (b) | 14,390 | 281,756 | ||||||
Arlo Technologies, Inc. (a) | 31,600 | 146,624 | ||||||
Benchmark Electronics, Inc. | 7,800 | 193,284 | ||||||
Clearfield, Inc. (a) | 2,410 | 252,183 | ||||||
Comtech Telecommunications Corp. | 18,530 | 185,485 | ||||||
Corsair Gaming, Inc. (a) | 10,890 | 123,602 | ||||||
Diebold Nixdorf, Inc. (a) | 58,700 | 143,228 | ||||||
Extreme Networks, Inc. (a) | 29,990 | 391,969 | ||||||
Fabrinet (a)(b) | 9,090 | 867,641 | ||||||
Harmonic, Inc. (a) | 29,630 | 387,264 | ||||||
InterDigital, Inc. | 6,470 | 261,517 | ||||||
Knowles Corp. (a) | 18,120 | 220,520 | ||||||
NetScout Systems, Inc. (a) | 14,920 | 467,294 | ||||||
Pitney Bowes, Inc. | 38,260 | 89,146 | ||||||
Plexus Corp. (a) | 4,900 | 429,044 | ||||||
Sanmina Corp. (a)(b) | 13,090 | 603,187 | ||||||
Sonos, Inc. (a) | 18,690 | 259,791 | ||||||
TTM Technologies, Inc. (a) | 28,760 | 379,057 | ||||||
Viavi Solutions, Inc. (a) | 44,640 | 582,552 | ||||||
6,596,687 | ||||||||
TECHNOLOGY SERVICES - 2.4% | ||||||||
CSG Systems International, Inc. | 5,650 | 298,772 | ||||||
EVERTEC, Inc. | 10,810 | 338,893 |
Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.2% (Continued) | Shares | Fair Value | ||||||
TECHNOLOGY SERVICES - 2.4% (Continued) | ||||||||
ExlService Holdings, Inc. (a)(b) | 7,000 | $ | 1,031,520 | |||||
Green Dot Corp. - Class A (a) | 12,060 | 228,899 | ||||||
Insight Enterprises, Inc. (a)(b) | 8,860 | 730,153 | ||||||
LiveRamp Holdings, Inc. (a) | 2,650 | 48,124 | ||||||
Perficient, Inc. (a) | 6,350 | 412,877 | ||||||
TTEC Holdings, Inc. | 3,630 | 160,845 | ||||||
Unisys Corp. (a) | 10,560 | 79,728 | ||||||
3,329,811 | ||||||||
TELECOMMUNICATIONS - 0.7% | ||||||||
8x8, Inc. (a) | 26,120 | 90,114 | ||||||
ATN International, Inc. | 1,330 | 51,298 | ||||||
Cogent Communications Holdings, Inc. | 5,100 | 266,016 | ||||||
Consolidated Communications Holdings, Inc. (a) | 29,970 | 124,676 | ||||||
Gogo, Inc. (a) | 13,810 | 167,377 | ||||||
Shenandoah Telecommunications Co. | 3,360 | 57,187 | ||||||
Telephone and Data Systems, Inc. | 17,960 | 249,644 | ||||||
1,006,312 | ||||||||
TRANSPORTATION & LOGISTICS - 3.2% | ||||||||
Allegiant Travel Co. (a)(b) | 3,490 | 254,700 | ||||||
ArcBest Corp. (b) | 6,890 | 501,110 | ||||||
Atlas Air Worldwide Holdings, Inc. (a)(b) | 7,090 | 677,591 | ||||||
Bristow Group, Inc. (a) | 8,623 | 202,554 | ||||||
Forward Air Corp. | 5,730 | 517,190 | ||||||
Hawaiian Holdings, Inc. (a)(b) | 17,650 | 232,098 | ||||||
Hub Group, Inc. - Class A (a) | 10,840 | 747,743 | ||||||
Marten Transport Ltd. | 18,180 | 348,329 | ||||||
Matson, Inc. | 10,720 | 659,494 | ||||||
SkyWest, Inc. (a) | 13,750 | 223,575 | ||||||
Sun Country Airlines Holdings, Inc. (a)(b) | 5,780 | 78,666 | ||||||
4,443,050 | ||||||||
TRANSPORTATION EQUIPMENT - 0.4% | ||||||||
Greenbrier Cos., Inc. (The) | 6,020 | 146,105 | ||||||
Trinity Industries, Inc. | 10,110 | 215,849 | ||||||
Wabash National Corp. | 15,190 | 236,356 | ||||||
598,310 | ||||||||
WHOLESALE - CONSUMER STAPLES - 1.1% | ||||||||
Andersons, Inc. (The) | 27,150 | 842,465 | ||||||
Chefs' Warehouse, Inc. (The) (a) | 5,800 | 168,026 |
Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.2% (Continued) | Shares | Fair Value | ||||||
WHOLESALE - CONSUMER STAPLES - 1.1% (Continued) | ||||||||
United Natural Foods, Inc. (a) | 14,890 | $ | 511,769 | |||||
1,522,260 | ||||||||
WHOLESALE - DISCRETIONARY - 1.3% | ||||||||
ePlus, Inc. (a) | 4,560 | 189,423 | ||||||
G-III Apparel Group Ltd. (a) | 9,060 | 135,447 | ||||||
KAR Auction Services, Inc. (a) | 29,360 | 327,951 | ||||||
PC Connection, Inc. | 2,970 | 133,917 | ||||||
ScanSource, Inc. (a) | 23,700 | 625,917 | ||||||
Veritiv Corp. (a)(b) | 3,640 | 355,883 | ||||||
1,768,538 | ||||||||
TOTAL COMMON STOCKS (COST $126,170,776) | $ | 134,921,931 |
RIGHTS - 0.0% (c) | Shares | Fair Value | ||||||
Lantheus Holdings, Inc., CVR (a)(d)(e) (Cost $0) | 28,980 | $ | 2,608 |
CORPORATE NOTES - 1.0% | Coupon | Maturity | Principal Amount | Fair Value | ||||||||||||
COMMUNITY DEVELOPMENT - 1.0% | ||||||||||||||||
Calvert Social Investment Foundation, Inc. (e) | 0.400 | % | 12/15/22 | $ | 110,000 | $ | 109,063 | |||||||||
Calvert Social Investment Foundation, Inc. (e) | 3.000 | % | 06/15/23 | 330,000 | 324,492 | |||||||||||
Calvert Social Investment Foundation, Inc. (e) | 3.000 | % | 12/15/23 | 330,000 | 320,547 | |||||||||||
Calvert Social Investment Foundation, Inc. (e) | 1.000 | % | 06/14/24 | 100,000 | 92,926 | |||||||||||
Calvert Social Investment Foundation, Inc. (e) | 3.000 | % | 06/17/24 | 60,000 | 57,639 | |||||||||||
Calvert Social Investment Foundation, Inc. (e) | 3.000 | % | 12/15/24 | 90,000 | 85,575 | |||||||||||
Calvert Social Investment Foundation, Inc. (e) | 2.500 | % | 06/13/25 | 150,000 | 139,402 | |||||||||||
Calvert Social Investment Foundation, Inc. (e) | 2.500 | % | 12/15/25 | 280,000 | 257,314 | |||||||||||
TOTAL CORPORATE NOTES (COST $1,450,000) | $ | 1,386,958 |
MONEY MARKET FUNDS - 0.7% | Shares | Fair Value | ||||||
First American Government Obligations Fund - Class X, 2.77% (f) (COST $928,394) | 928,394 | $ | 928,394 |
Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
INVESTMENT PURCHASED WITH THE CASH PROCEEDS FROM SECURITIES LENDING - 19.0% | Shares | Fair Value | ||||||
Mount Vernon Liquid Assets Portfolio, LLC, 3.16% (f)(g) (COST $26,176,923) | 26,176,923 | $ | 26,176,923 | |||||
TOTAL INVESTMENTS - (COST $154,726,093) - 118.9% | $ | 163,416,814 | ||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (18.9%) | (25,977,352 | ) | ||||||
NET ASSETS - 100.0% | $ | 137,439,462 |
(a) | Non-income producing security. |
(b) | All or a portion of the security is on loan. The total fair value of the securities on loan as of September 30, 2022 was $24,868,058. |
(c) | Percentage rounds to less than 0.1%. |
(d) | Security value has been determined in good faith pursuant to procedures adopted by the Board of Trustees. The total fair value of such securities was $2,608 as of September 30, 2022, representing 0.0% (c) of net assets. |
(e) | Restricted and/or illiquid securities not registered under the Securities Act of 1933 are as follows: |
Acquisition Date | Current Cost | Fair Value | % of Net Assets | |||||||||||
Calvert Social Investment Foundation, Inc. 0.400%, 12/15/22 | 12/15/21 | $ | 110,000 | $ | 109,063 | 0.1 | % | |||||||
Calvert Social Investment Foundation, Inc. 3.000%, 06/15/23 | 06/18/18 | 330,000 | 324,492 | 0.2 | % | |||||||||
Calvert Social Investment Foundation, Inc. 3.000%, 12/15/23 | 12/17/18 | 330,000 | 320,547 | 0.2 | % | |||||||||
Calvert Social Investment Foundation, Inc. 1.000%, 06/14/24 | 06/15/21 | 100,000 | 92,926 | 0.1 | % | |||||||||
Calvert Social Investment Foundation, Inc. 3.000%, 06/17/24 | 06/17/19 | 60,000 | 57,639 | 0.0 | %(c) | |||||||||
Calvert Social Investment Foundation, Inc. 3.000%, 12/15/24 | 12/12/19 | 90,000 | 85,575 | 0.1 | % | |||||||||
Calvert Social Investment Foundation, Inc. 2.500%, 06/13/25 | 06/12/20 | 150,000 | 139,402 | 0.1 | % | |||||||||
Calvert Social Investment Foundation, Inc. 2.500%, 12/15/25 | 12/15/20 | 280,000 | 257,314 | 0.2 | % | |||||||||
Lantheus Holdings, Inc., CVR | 06/22/20 | - | 2,608 | 0.0 | %(c) | |||||||||
$ | 1,450,000 | $ | 1,389,566 | 1.0 | % |
(f) | The rate shown is the 7-day effective yield as of September 30, 2022. |
(g) | The security was purchased with cash collateral received from securities on loan. |
CVR - Contingent Value Right
plc - Public Liability Company
REIT - Real Estate Investment Trust
Schedule of Portfolio Investments
Praxis Genesis Conservative Portfolio
September 30, 2022 (Unaudited)
AFFILIATED MUTUAL FUNDS - 100.0% | Shares | Fair Value | ||||||
DEBT FUND - 70.3% | ||||||||
Praxis Impact Bond Fund - Class I | 1,805,453 | $ | 16,375,461 | |||||
EQUITY FUND - 29.7% | ||||||||
Praxis Growth Index Fund - Class I | 69,825 | 2,112,207 | ||||||
Praxis International Index Fund - Class I | 212,063 | 2,093,059 | ||||||
Praxis Small Cap Index Fund - Class I | 64,741 | 583,321 | ||||||
Praxis Value Index Fund - Class I | 151,060 | 2,134,476 | ||||||
6,923,063 | ||||||||
TOTAL AFFILIATED MUTUAL FUNDS (COST $23,116,785) | $ | 23,298,524 |
MONEY MARKET FUNDS - 0.0% (a) | Shares | Fair Value | ||||||
First American Government Obligations Fund - Class X, 2.77% (b) (COST $6,116) | 6,116 | $ | 6,116 | |||||
TOTAL INVESTMENTS - (COST $23,122,901) - 100.0% | $ | 23,304,640 | ||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.0%) (a) | (7,739 | ) | ||||||
NET ASSETS - 100.0% | $ | 23,296,901 |
(a) | Percentage rounds to less than 0.1%. |
(b) | The rate shown is the 7-day effective yield as of September 30, 2022. |
Schedule of Portfolio Investments
Praxis Genesis Balanced Portfolio
September 30, 2022 (Unaudited)
AFFILIATED MUTUAL FUNDS - 100.0% | Shares | Fair Value | ||||||
DEBT FUND - 40.3% | ||||||||
Praxis Impact Bond Fund - Class I | 3,340,192 | $ | 30,295,543 | |||||
EQUITY FUND - 59.7% | ||||||||
Praxis Growth Index Fund - Class I | 391,190 | 11,833,490 | ||||||
Praxis International Index Fund - Class I | 1,372,259 | 13,544,191 | ||||||
Praxis Small Cap Index Fund - Class I | 837,933 | 7,549,775 | ||||||
Praxis Value Index Fund - Class I | 846,185 | 11,956,593 | ||||||
44,884,049 | ||||||||
TOTAL AFFILIATED MUTUAL FUNDS (COST $66,082,972) | $ | 75,179,592 |
MONEY MARKET FUNDS - 0.0% (a) | Shares | Fair Value | ||||||
First American Government Obligations Fund - Class X, 2.77% (b) (COST $1,252) | 1,252 | $ | 1,252 | |||||
TOTAL INVESTMENTS - (COST $66,084,224) - 100.0% | $ | 75,180,844 | ||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.0%) (a) | (35,219 | ) | ||||||
NET ASSETS - 100.0% | $ | 75,145,625 |
(a) | Percentage rounds to less than 0.1%. |
(b) | The rate shown is the 7-day effective yield as of September 30, 2022. |
Schedule of Portfolio Investments
Praxis Genesis Growth Portfolio
September 30, 2022 (Unaudited)
AFFILIATED MUTUAL FUNDS - 100.0% | Shares | Fair Value | ||||||
DEBT FUND - 20.2% | ||||||||
Praxis Impact Bond Fund - Class I | 1,785,444 | $ | 16,193,979 | |||||
EQUITY FUND - 79.8% | ||||||||
Praxis Growth Index Fund - Class I | 535,713 | 16,205,328 | ||||||
Praxis International Index Fund - Class I | 1,956,644 | 19,312,079 | ||||||
Praxis Small Cap Index Fund - Class I | 1,343,717 | 12,106,887 | ||||||
Praxis Value Index Fund - Class I | 1,158,947 | 16,375,923 | ||||||
64,000,217 | ||||||||
TOTAL AFFILIATED MUTUAL FUNDS (COST $67,323,567) | $ | 80,194,196 |
MONEY MARKET FUNDS - 0.0% (a) | Shares | Fair Value | ||||||
First American Government Obligations Fund - Class X, 2.77% (b) (COST $893) | 893 | $ | 893 | |||||
TOTAL INVESTMENTS - (COST $67,324,460) - 100.0% | $ | 80,195,089 | ||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.0%) (a) | (37,949 | ) | ||||||
NET ASSETS - 100.0% | $ | 80,157,140 |
(a) | Percentage rounds to less than 0.1%. |
(b) | The rate shown is the 7-day effective yield as of September 30, 2022. |