# EDGAR Filing Document

**Accession Number:** 0000912900
**File Stem:** 0000910472-25-005287
**Filing Date:** 2025-12
**Character Count:** 234902
**Document Hash:** d452d57505c57b323a14f230e84303d8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-005287.hdr.sgml**: 20251201

**ACCESSION NUMBER**: 0000910472-25-005287

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251201

**DATE AS OF CHANGE**: 20251201

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PRAXIS FUNDS
- **CENTRAL INDEX KEY:** 0000912900

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08056
- **FILM NUMBER:** 251537558

**BUSINESS ADDRESS:**
- **STREET 1:** 1110 N. MAIN ST.
- **CITY:** GOSHEN
- **STATE:** IN
- **ZIP:** 46527
- **BUSINESS PHONE:** 8009772947

**MAIL ADDRESS:**
- **STREET 1:** PO BOX 483
- **CITY:** GOSHEN
- **STATE:** IN
- **ZIP:** 46527

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRAXIS MUTUAL FUNDS
- **DATE OF NAME CHANGE:** 20110510

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MMA PRAXIS MUTUAL FUNDS
- **DATE OF NAME CHANGE:** 19931229

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRAXIS MUTUAL FUNDS
- **DATE OF NAME CHANGE:** 19931001

## Series and Classes Contracts Data

### Praxis Growth Index Fund (Series ID: S000017266)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000047793 | Praxis Growth Index Fund Class A | MGNDX           |
| C000047795 | Praxis Growth Index Fund Class I | MMDEX           |

## Nport-Ex

**Schedule of Portfolio Investments**

***Praxis Impact Bond Fund***

***September 30, 2025 (Unaudited)***

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSET BACKED SECURITIES - 5.8%** | **Coupon** | **Maturity** | **Principal Amount** | **Fair Value** |
| Aligned Data Centers Issuer, LLC <sup>(a)</sup> | 6.000% | 08/17/48 | $1510000 | $1525940 |
| Ameren Missouri Securitization Funding I, LLC | 4.850% | 10/01/41 | 2500000 | 2509712 |
| American Tower Trust I <sup>(a)</sup> | 3.652% | 03/23/28 | 2000000 | 1965979 |
| Bank of America Credit Card Trust | 4.980% | 11/15/28 | 4116000 | 4166507 |
| Beacon Container Finance II, LLC <sup>(a)</sup> | 2.250% | 10/22/46 | 1511709 | 1406908 |
| CLI Funding, LLC <sup>(a)</sup> | 2.720% | 01/18/47 | 938989 | 869325 |
| CyrusOne Data Centers Issuer I, LLC <sup>(a)</sup> | 4.500% | 05/20/49 | 2525000 | 2482706 |
| DB Master Finance, LLC <sup>(a)</sup> | 2.493% | 11/20/51 | 1949063 | 1843573 |
| Duke Energy Florida Project Finance, LLC | 3.112% | 09/01/36 | 1500000 | 1280971 |
| Duke Energy Progress NC Storm Funding, LLC | 2.799% | 07/01/41 | 2000000 | 1525645 |
| Duke Energy Progress NC Storm Funding, LLC <sup>(a)</sup> | 5.070% | 01/01/46 | 3000000 | 3007560 |
| Duke Energy Progress SC Storm Funding, LLC | 5.404% | 03/01/44 | 631870 | 644076 |
| Golden Credit Card Trust <sup>(a)</sup> | 1.140% | 08/15/28 | 1000000 | 976096 |
| GoodLeap Sustainable Home Solutions Trust <sup>(a)</sup> | 6.250% | 06/20/57 | 1525429 | 1487487 |
| Iowa Student Loan Liquidity Corp. Rev. | 1.730% | 08/25/70 | 757009 | 667927 |
| Mosaic Solar Loans, LLC <sup>(a)</sup> | 2.100% | 04/20/46 | 600302 | 528050 |
| Mosaic Solar Loans, LLC <sup>(a)</sup> | 1.640% | 04/22/47 | 643199 | 532662 |
| PG&E Energy Recovery Funding, LLC | 2.822% | 07/15/46 | 1633000 | 1165603 |
| PG&E Energy Recovery Funding, LLC | 5.536% | 07/15/47 | 1500000 | 1514447 |
| PG&E Wildfire Recovery Funding, LLC | 4.674% | 12/01/51 | 2400000 | 2119251 |
| PNM Energy Transition Bond Co. I, LLC | 6.028% | 08/15/48 | 500000 | 536784 |
| SBA Tower Trust <sup>(a)</sup> | 4.831% | 10/15/29 | 1750000 | 1738819 |
| SBA Tower Trust <sup>(a)</sup> | 6.599% | 11/15/52 | 880000 | 903567 |
| Sunrun Artemis Issuer, LLC <sup>(a)</sup> | 6.250% | 07/30/59 | 2449189 | 2428417 |
| Switch ABS Issuer, LLC <sup>(a)</sup> | 6.280% | 03/25/54 | 600000 | 611672 |
| Switch ABS Issuer, LLC <sup>(a)</sup> | 5.036% | 03/25/55 | 1500000 | 1486075 |
| Texas Electric Market Stabilization Funding N, LLC <sup>(a)</sup> | 4.966% | 02/01/44 | 4195000 | 4147169 |
| Texas Electric Market Stabilization Funding N, LLC <sup>(a)</sup> | 5.057% | 08/01/46 | 4730000 | 4486686 |
| Textainer Marine Containers VII Ltd. <sup>(a)</sup> | 1.680% | 02/20/46 | 950000 | 885213 |
| TIF Funding II, LLC <sup>(a)</sup> | 1.650% | 02/20/46 | 311667 | 284286 |
| Toyota Auto Receivables Owner Trust | 5.300% | 05/15/26 | 396216 | 398195 |
| Tribute Rail, LLC <sup>(a)</sup> | 4.760% | 05/17/52 | 1643281 | 1641662 |
| Trinity Rail Leasing, L.P. <sup>(a)</sup> | 5.780% | 05/19/54 | 2859557 | 2883428 |
| Triton Container Finance VIII, LLC <sup>(a)</sup> | 1.860% | 03/20/46 | 1080625 | 997802 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Impact Bond Fund**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ASSET BACKED SECURITIES - 5.8% (Continued)** | **Coupon** | **Maturity** | **Maturity** | **Principal Amount** | **Fair Value** |
| Triton International Finance Funding III, LLC <sup>(a)</sup> | 5.480% |  | 05/22/34 | $1331250 | $1335523 |
| Triumph Rail, LLC <sup>(a)</sup> | 2.150% |  | 06/19/51 | 1624947 | 1558877 |
| USQ Rail III, LLC <sup>(a)</sup> | 4.990% |  | 09/28/54 | 721685 | 720934 |
| Vantage Data Centers Issuer, LLC <sup>(a)</sup> | 2.165% |  | 10/15/46 | 2300000 | 2240368 |
| Wendy's Funding, LLC <sup>(a)</sup> | 3.783% |  | 06/15/49 | 661778 | 656533 |
| Wendy's Funding, LLC <sup>(a)</sup> | 4.236% |  | 03/15/52 | 1209375 | 1194922 |
| **TOTAL ASSET BACKED SECURITIES** (COST $64,107,883) | **TOTAL ASSET BACKED SECURITIES** (COST $64,107,883) | **TOTAL ASSET BACKED SECURITIES** (COST $64,107,883) |  |  | $63357357 |
| **MUNICIPAL BONDS - 0.9%** | **Coupon** | **Maturity** | **Maturity** | **Principal Amount** | **Fair Value** |
| American Municipal Power Ohio, Inc., Rev. Taxable-Hydroelectric Projects, Series 2010-A | 7.334% |  | 02/15/28 | $770000 | $800321 |
| Findlay City School District, Series 2010-B | 6.250% |  | 12/01/37 | 270000 | 274085 |
| Houston, Texas, Independent School District, Series 2009A-2 | 6.168% |  | 02/15/34 | 1000000 | 1001025 |
| Massachusetts St., Series 2016-F | 3.277% |  | 06/01/46 | 3100000 | 2474076 |
| University of Texas, Permanent University Fund, Series 2017-A | 3.376% |  | 07/01/47 | 3000000 | 2316560 |
| University of Texas, Rev., Series 2020 B | 2.439% |  | 08/15/49 | 1875000 | 1173099 |
| University of Virginia, Rev., Series 2009 | 6.200% |  | 09/01/39 | 2000000 | 2211034 |
| **TOTAL MUNICIPAL BONDS** (COST $10,997,304) | **TOTAL MUNICIPAL BONDS** (COST $10,997,304) | **TOTAL MUNICIPAL BONDS** (COST $10,997,304) |  |  | $10250200 |
| **CORPORATE BONDS - 27.0%** | **Coupon** | **Maturity** | **Maturity** | **Principal Amount** | **Fair Value** |
| AUTOMOTIVE - 0.5% |  |  |  |  |  |
| BorgWarner, Inc. | 2.650% |  | 07/01/27 | $601000 | $585535 |
| Honda Motor Co. Ltd. | 2.967% |  | 03/10/32 | 760000 | 692496 |
| Hyundai Capital Services, Inc. <sup>(a)</sup> | 1.250% |  | 02/08/26 | 200000 | 197790 |
| Magna International, Inc. <sup>(b)</sup> | 2.450% |  | 06/15/30 | 1250000 | 1150874 |
| Toyota Motor Corp. | 4.450% |  | 06/30/30 | 2500000 | 2526134 |
|  |  |  |  |  | 5152829 |
| BANKING - 3.0% |  |  |  |  |  |
| American Express Co. | 5.016% |  | 04/25/31 | 500000 | 514134 |
| Bank of America Corp., Series N (TSFR3M + 157.16) <sup>(c)</sup> | 4.271% |  | 07/23/29 | 1000000 | 1003461 |
| Bank of America Corp., Series N <sup>(c)</sup> | 2.572% |  | 10/20/32 | 1500000 | 1344393 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Impact Bond Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CORPORATE BONDS - 27.0% (Continued)** | **Coupon** | **Maturity** | **Principal Amount** | **Fair Value** |
| BANKING - 3.0% (Continued) |  |  |  |  |
| Bank of America Corp., Series N <sup>(c)</sup> | 2.972% | 02/04/33 | $1000000 | $910637 |
| Bank of America Corp., Series N | 5.464% | 05/09/36 | 500000 | 521272 |
| Bank of Montreal | 5.203% | 02/01/28 | 1750000 | 1792774 |
| Bank of New York Mellon Corp. (The), Series J | 4.967% | 04/26/34 | 2000000 | 2038305 |
| Citigroup, Inc. (SOFR + 210.70) <sup>(c)</sup> | 2.572% | 06/03/31 | 2000000 | 1840177 |
| ING Groep N.V. <sup>(a)</sup> | 4.625% | 01/06/26 | 1250000 | 1250854 |
| JPMorgan Chase & Co. | 3.200% | 06/15/26 | 2557000 | 2542273 |
| JPMorgan Chase & Co. (SOFR + 151.00) <sup>(c)</sup> | 2.739% | 10/15/30 | 2000000 | 1888800 |
| JPMorgan Chase & Co. <sup>(c)</sup> | 2.963% | 01/25/33 | 1000000 | 914844 |
| JPMorgan Chase & Co. <sup>(c)</sup> | 5.572% | 04/22/36 | 500000 | 527012 |
| M&T Bank Corp. | 4.553% | 08/16/28 | 1500000 | 1509348 |
| Mitsubishi UFJ Financial Group, Inc. | 5.159% | 04/24/31 | 2500000 | 2576030 |
| PNC Financial Services Group, Inc. (The) | 4.758% | 01/26/27 | 1500000 | 1501620 |
| PNC Financial Services Group, Inc. (The) <sup>(c)</sup> | 5.582% | 06/12/29 | 1000000 | 1036232 |
| State Street Corp. <sup>(b)</sup> | 7.350% | 06/15/26 | 1000000 | 1021190 |
| State Street Corp. | 4.164% | 08/04/33 | 1000000 | 975904 |
| Toronto-Dominion Bank, Series C | 5.264% | 12/11/26 | 2000000 | 2027311 |
| Truist Financial Corp. (SOFR + 60.90) <sup>(c)</sup> | 1.267% | 03/02/27 | 1000000 | 987452 |
| UBS AG London | 5.650% | 09/11/28 | 550000 | 574999 |
| US Bancorp, Series CC | 5.083% | 05/15/31 | 3000000 | 3084980 |
|  |  |  |  | 32384002 |
| BEVERAGES - 0.1% |  |  |  |  |
| Coca-Cola Co. (The) | 3.450% | 03/25/30 | 500000 | 487773 |
| Coca-Cola Femsa S.A.B. de C.V. | 1.850% | 09/01/32 | 1000000 | 833549 |
|  |  |  |  | 1321322 |
| BIOTECH & PHARMA - 0.3% |  |  |  |  |
| AbbVie, Inc. | 2.950% | 11/21/26 | 500000 | 494260 |
| Amgen, Inc. | 3.000% | 02/22/29 | 2500000 | 2407110 |
| Gilead Sciences, Inc. | 3.650% | 03/01/26 | 750000 | 748744 |
|  |  |  |  | 3650114 |
| CABLE & SATELLITE - 0.2% |  |  |  |  |
| Comcast Corp. | 3.300% | 04/01/27 | 500000 | 495197 |
| Comcast Corp. <sup>(b)</sup> | 4.650% | 02/15/33 | 1000000 | 1004434 |
| Comcast Corp. | 2.937% | 11/01/56 | 672000 | 398771 |
| Time Warner Cable, Inc. | 4.500% | 09/15/42 | 500000 | 401739 |
|  |  |  |  | 2300141 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Impact Bond Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CORPORATE BONDS - 27.0% (Continued)** | **Coupon** | **Maturity** | **Principal Amount** | **Fair Value** |
| CHEMICALS - 0.4% |  |  |  |  |
| Air Products and Chemicals, Inc. <sup>(b)</sup> | 4.850% | 02/08/34 | $1000000 | $1016145 |
| Avery Dennison Corp. | 2.650% | 04/30/30 | 1250000 | 1158491 |
| Ecolab, Inc. | 4.800% | 03/24/30 | 140000 | 143602 |
| Ecolab, Inc. | 2.750% | 08/18/55 | 1470000 | 908572 |
| Nutrien Ltd. | 5.875% | 12/01/36 | 840000 | 882744 |
|  |  |  |  | 4109554 |
| CONSTRUCTION MATERIALS - 0.0% <sup>(d)</sup> |  |  |  |  |
| Owens Corning | 3.950% | 08/15/29 | 300000 | 296152 |
| CONSUMER SERVICES - 3.9% |  |  |  |  |
| Andrew W. Mellon Funding | 0.947% | 08/01/27 | 1050000 | 991692 |
| California Endowment (The) | 2.498% | 04/01/51 | 4500000 | 2612197 |
| Conservation Fund, Series 2019 | 3.474% | 12/15/29 | 535000 | 508777 |
| Ford Foundation (The), Series 2017 | 3.859% | 06/01/47 | 4620000 | 3674075 |
| Ford Foundation (The), Series 2020 | 2.415% | 06/01/50 | 235000 | 140970 |
| John D. & Catherine T. MacArthur Foundation, Series 2020 | 1.299% | 12/01/30 | 1500000 | 1284548 |
| Leland Stanford Junior University (The) | 3.460% | 05/01/47 | 2415000 | 1840184 |
| Local Initiatives Support Corp. | 4.649% | 03/01/37 | 1500000 | 1414373 |
| Massachusetts Institute of Technology, Series D-2 | 3.959% | 07/01/38 | 1700000 | 1572561 |
| President & Fellows of Harvard College, Series 2024-A <sup>(b)</sup> | 4.609% | 02/15/35 | 2000000 | 2012386 |
| President & Fellows of Harvard College, Series 2016-B | 3.150% | 07/15/46 | 3961000 | 2931227 |
| President & Fellows of Harvard College, Series 2020-B | 2.517% | 10/15/50 | 1600000 | 985849 |
| President & Fellows of Harvard College, Series 2022-A | 3.745% | 11/15/52 | 700000 | 546969 |
| Rockefeller Foundation (The) | 2.492% | 10/01/50 | 4290000 | 2637984 |
| Stanford University California, Series 2017 | 3.647% | 05/01/48 | 750000 | 593068 |
| Stanford University California, Series 2020-A | 2.413% | 06/01/50 | 4400000 | 2688681 |
| Trustees of Princeton University (The) | 2.516% | 07/01/50 | 6650000 | 4200092 |
| University of Notre Dame, Series 2017 | 3.394% | 02/15/48 | 3749000 | 2810842 |
| W.K. Kellogg Foundation Trust, Series 2020 <sup>(a)</sup> | 2.443% | 10/01/50 | 7223000 | 4296169 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Impact Bond Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CORPORATE BONDS - 27.0% (Continued)** | **Coupon** | **Maturity** | **Principal Amount** | **Fair Value** |
| CONSUMER SERVICES - 3.9% (Continued) |  |  |  |  |
| Yale University <sup>(b)</sup> | 2.402% | 04/15/50 | $8765000 | $5326912 |
|  |  |  |  | 43069556 |
| CONTAINERS & PACKAGING - 0.2% |  |  |  |  |
| CCL Industries, Inc. <sup>(a)</sup> | 3.050% | 06/01/30 | 1750000 | 1645114 |
| Sonoco Products Co. | 5.750% | 11/01/40 | 1000000 | 1021741 |
|  |  |  |  | 2666855 |
| DIVERSIFIED INDUSTRIALS - 0.1% |  |  |  |  |
| Illinois Tool Works, Inc. | 3.900% | 09/01/42 | 1000000 | 853642 |
| ELECTRIC UTILITIES - 4.2% |  |  |  |  |
| Ameren Illinois Co. | 5.900% | 12/01/52 | 2250000 | 2358066 |
| Avista Corp. | 4.000% | 04/01/52 | 1000000 | 778811 |
| Caledonia Generating, LLC <sup>(a)</sup> | 1.950% | 02/28/34 | 1381091 | 1226664 |
| CenterPoint Energy, Inc., Series AL | 5.300% | 04/01/53 | 1000000 | 979316 |
| Consolidated Edison Co. | 3.350% | 04/01/30 | 1000000 | 968255 |
| DTE Electric Co. | 4.050% | 05/15/48 | 1750000 | 1442738 |
| DTE Electric Co. | 3.650% | 03/01/52 | 750000 | 561243 |
| DTE Energy Co., Series C | 4.875% | 06/01/28 | 1500000 | 1525992 |
| Duke Energy Carolinas, LLC | 3.550% | 03/15/52 | 2200000 | 1619124 |
| Duke Energy Progress, LLC | 3.450% | 03/15/29 | 1750000 | 1715077 |
| Duke Energy Progress, LLC | 4.000% | 04/01/52 | 1500000 | 1182013 |
| Electricite de France S.A. <sup>(a)</sup> | 3.625% | 10/13/25 | 1250000 | 1249494 |
| Florida Power & Light Co. | 3.700% | 12/01/47 | 1550000 | 1205308 |
| Florida Power & Light Co. | 2.875% | 12/04/51 | 2000000 | 1292301 |
| Georgia Power Co., Series 2016-A | 3.250% | 04/01/26 | 1000000 | 995122 |
| Interstate Power & Light Co. | 3.600% | 04/01/29 | 1250000 | 1224626 |
| Liberty Utilities Financial Services <sup>(a)</sup> | 2.050% | 09/15/30 | 1355000 | 1209178 |
| MidAmerican Energy Co. | 3.950% | 08/01/47 | 1750000 | 1409326 |
| Narragansett Electric Co. <sup>(a)</sup> | 3.395% | 04/09/30 | 1500000 | 1438600 |
| National Rural Utilities | 1.350% | 03/15/31 | 2000000 | 1707710 |
| Niagara Mohawk Power Corp. <sup>(a)</sup> | 1.960% | 06/27/30 | 1500000 | 1350185 |
| Northern States Power Co. | 2.900% | 03/01/50 | 1500000 | 1006875 |
| NSTAR Electric Co. | 3.950% | 04/01/30 | 600000 | 594779 |
| NSTAR Electric Co. | 5.500% | 03/15/40 | 1250000 | 1282868 |
| NY State Electric & Gas <sup>(a)(b)</sup> | 5.650% | 08/15/28 | 1650000 | 1714398 |
| Potomac Electric Power Co. | 6.500% | 11/15/37 | 1000000 | 1119699 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Impact Bond Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CORPORATE BONDS - 27.0% (Continued)** | **Coupon** | **Maturity** | **Principal Amount** | **Fair Value** |
| ELECTRIC UTILITIES - 4.2% (Continued) |  |  |  |  |
| Public Service Co. | 3.700% | 06/15/28 | $2250000 | $2235694 |
| Public Service Electric and Gas Co. | 4.650% | 03/15/33 | 2500000 | 2513143 |
| Puget Energy, Inc. | 4.223% | 06/15/48 | 1000000 | 819715 |
| Rochester Gas & Electric Corp. <sup>(a)</sup> | 1.850% | 12/01/30 | 500000 | 432693 |
| San Diego Gas and Electric Co. | 4.500% | 08/15/40 | 841000 | 774101 |
| Solar Star Funding, LLC <sup>(a)</sup> | 3.950% | 06/30/35 | 1115294 | 1067584 |
| Solar Star Funding, LLC <sup>(a)</sup> | 5.375% | 06/30/35 | 342826 | 352726 |
| Southern California Edison | 4.050% | 03/15/42 | 1165000 | 934398 |
| Topaz Solar Farms, LLC <sup>(a)</sup> | 4.875% | 09/30/39 | 196903 | 173266 |
| Topaz Solar Farms, LLC <sup>(a)</sup> | 5.750% | 09/30/39 | 474202 | 480684 |
| Union Electric Co. | 2.625% | 03/15/51 | 2000000 | 1233217 |
| Westar Energy, Inc. | 2.550% | 07/01/26 | 1292000 | 1277104 |
|  |  |  |  | 45452093 |
| ELECTRICAL EQUIPMENT - 0.2% |  |  |  |  |
| Johnson Controls International plc | 1.750% | 09/15/30 | 1800000 | 1595585 |
| Roper Technologies, Inc. | 2.000% | 06/30/30 | 440000 | 395260 |
|  |  |  |  | 1990845 |
| FOOD - 0.6% |  |  |  |  |
| Cargill, Inc. <sup>(a)</sup> | 4.760% | 11/23/45 | 1500000 | 1382082 |
| Hormel Foods Corp. | 1.800% | 06/11/30 | 2250000 | 2018268 |
| Ingredion, Inc. | 2.900% | 06/01/30 | 1000000 | 937817 |
| Mars, Inc. <sup>(a)</sup> | 4.650% | 04/20/31 | 1000000 | 1014780 |
| Mars, Inc. <sup>(a)</sup> | 3.600% | 04/01/34 | 1500000 | 1374176 |
|  |  |  |  | 6727123 |
| GAS & WATER UTILITIES - 0.6% |  |  |  |  |
| American Water Capital Corp. | 2.800% | 05/01/30 | 1500000 | 1412901 |
| Brooklyn Union Gas Co. <sup>(a)</sup> | 4.504% | 03/10/46 | 1250000 | 1041078 |
| Indiana Gas Co., Inc. | 6.550% | 06/30/28 | 250000 | 263653 |
| Southern California Gas Co., Series DDD <sup>(b)</sup> | 5.450% | 06/15/35 | 2500000 | 2592022 |
| Spire Missouri, Inc. | 5.150% | 08/15/34 | 1000000 | 1025952 |
|  |  |  |  | 6335606 |
| HEALTH CARE FACILITIES & SERVICES - 0.1% |  |  |  |  |
| Kaiser Foundation Hospital | 3.150% | 05/01/27 | 1500000 | 1481465 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Impact Bond Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CORPORATE BONDS - 27.0% (Continued)** | **Coupon** | **Maturity** | **Principal Amount** | **Fair Value** |
| HOME & OFFICE PRODUCTS - 0.1% |  |  |  |  |
| Steelcase, Inc. | 5.125% | 01/18/29 | $1000000 | $997550 |
| HOME CONSTRUCTION - 0.1% |  |  |  |  |
| NVR, Inc. | 3.000% | 05/15/30 | 1000000 | 945161 |
| INSTITUTIONAL FINANCIAL SERVICES - 0.8% |  |  |  |  |
| Brookfield Finance, Inc. | 4.250% | 06/02/26 | 1570000 | 1569505 |
| Goldman Sachs Group, Inc. (TSFR3M + 156.26) <sup>(b)(c)</sup> | 4.223% | 05/01/29 | 1000000 | 1001167 |
| Goldman Sachs Group, Inc. | 3.800% | 03/15/30 | 1500000 | 1476277 |
| Morgan Stanley, Series F | 3.125% | 07/27/26 | 2000000 | 1985405 |
| Morgan Stanley, Series I <sup>(c)</sup> | 5.449% | 07/20/29 | 1000000 | 1033310 |
| Morgan Stanley, Series I (SOFR + 114.30) <sup>(c)</sup> | 2.699% | 01/22/31 | 1250000 | 1168043 |
| Morgan Stanley, Series I <sup>(c)</sup> | 5.192% | 04/17/31 | 1000000 | 1032592 |
|  |  |  |  | 9266299 |
| INSURANCE - 3.7% |  |  |  |  |
| Aflac, Inc. | 4.000% | 10/15/46 | 1408000 | 1148405 |
| AIG Global Funding, Series 2024-1 <sup>(a)</sup> | 5.200% | 01/12/29 | 500000 | 514046 |
| Allstate Corp. (The) | 5.250% | 03/30/33 | 1000000 | 1036970 |
| American National Group, Inc. <sup>(b)</sup> | 5.750% | 10/01/29 | 1850000 | 1913681 |
| Athene Global Funding <sup>(a)</sup> | 5.583% | 01/09/29 | 2000000 | 2066980 |
| F&G Global Funding <sup>(a)</sup> | 2.300% | 04/11/27 | 535000 | 518936 |
| Fidelity National Financial, Inc. | 3.400% | 06/15/30 | 1000000 | 949743 |
| First American Financial Corp. | 2.400% | 08/15/31 | 1500000 | 1302965 |
| GA Global Funding Trust <sup>(a)</sup> | 2.250% | 01/06/27 | 2000000 | 1950362 |
| Horace Mann Educators Corp. | 4.500% | 12/01/25 | 1235000 | 1234912 |
| Horace Mann Educators Corp. | 7.250% | 09/15/28 | 965000 | 1033709 |
| Jackson National Life Global Funding <sup>(a)</sup> | 5.500% | 01/09/26 | 1250000 | 1252996 |
| Marsh & McLennan Cos., Inc. | 3.750% | 03/14/26 | 1000000 | 997682 |
| Massachusetts Mutual Life Insurance Co. <sup>(a)</sup> | 3.375% | 04/15/50 | 2500000 | 1739591 |
| Met Life Global Funding I <sup>(a)</sup> | 5.150% | 03/28/33 | 1250000 | 1294890 |
| Mutual of Omaha Global, Series 2023-1 <sup>(a)</sup> | 5.800% | 07/27/26 | 385000 | 390383 |
| Mutual of Omaha Global <sup>(a)</sup> | 5.450% | 12/12/28 | 365000 | 377416 |
| New York Life Global Funding <sup>(a)</sup> | 4.900% | 06/13/28 | 3000000 | 3067424 |
| Northwestern Mutual, Series 2023-3 <sup>(a)</sup> | 4.900% | 06/12/28 | 1740000 | 1781541 |
| Pacific Life Global Funding II, Series 2021-1 <sup>(a)</sup> | 1.450% | 01/20/28 | 1000000 | 942587 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Impact Bond Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CORPORATE BONDS - 27.0% (Continued)** | **Coupon** | **Maturity** | **Principal Amount** | **Fair Value** |
| INSURANCE - 3.7% (Continued) |  |  |  |  |
| Peachtree Corners Funding Trust II <sup>(a)</sup> | 6.012% | 05/15/35 | $400000 | $419885 |
| Pricoa Global Funding I <sup>(a)(b)</sup> | 5.100% | 05/30/28 | 2000000 | 2050082 |
| Primerica, Inc. | 2.800% | 11/19/31 | 1000000 | 902853 |
| Principal Financial Group, Inc. | 3.700% | 05/15/29 | 1250000 | 1225730 |
| Protective Life Global Funding <sup>(a)</sup> | 5.366% | 01/06/26 | 500000 | 501316 |
| Protective Life Global Funding <sup>(a)</sup> | 5.209% | 04/14/26 | 1000000 | 1005397 |
| Prudential Financial, Inc. | 1.500% | 03/10/26 | 644000 | 636539 |
| Prudential Funding Asia plc | 3.125% | 04/14/30 | 750000 | 719050 |
| RGA Global Funding <sup>(a)</sup> | 5.500% | 01/11/31 | 2000000 | 2086522 |
| Sammons Financial Group, Inc. <sup>(a)</sup> | 4.450% | 05/12/27 | 1200000 | 1198933 |
| Sammons Financial Group, Inc. <sup>(a)</sup> | 6.875% | 04/15/34 | 1000000 | 1101111 |
| Trustage Financial Group, Inc. <sup>(a)</sup> | 4.625% | 04/15/32 | 400000 | 383194 |
| Western-Southern Global Funding <sup>(a)</sup> | 4.900% | 05/01/30 | 3000000 | 3065124 |
|  |  |  |  | 40810955 |
| LEISURE FACILITIES & SERVICES - 0.2% |  |  |  |  |
| McDonald's Corp., Series MTN | 3.500% | 07/01/27 | 1000000 | 992177 |
| Starbucks Corp. | 2.450% | 06/15/26 | 1000000 | 989149 |
|  |  |  |  | 1981326 |
| MACHINERY - 0.4% |  |  |  |  |
| Ingersoll-Rand Global Holding Co. Ltd. | 6.391% | 11/15/27 | 655000 | 671938 |
| John Deere Capital Corp. | 1.750% | 03/09/27 | 250000 | 242455 |
| John Deere Capital Corp. | 3.050% | 01/06/28 | 1250000 | 1227003 |
| Xylem, Inc. | 1.950% | 01/30/28 | 1775000 | 1690872 |
|  |  |  |  | 3832268 |
| MEDICAL EQUIPMENT & DEVICES - 0.1% |  |  |  |  |
| Alcon Finance Corp. <sup>(a)</sup> | 2.600% | 05/27/30 | 1250000 | 1156358 |
| PERSONAL PRODUCTS - 0.1% |  |  |  |  |
| Estée Lauder Cos., Inc. (The) | 2.600% | 04/15/30 | 1000000 | 932371 |
| PIPELINES - 0.1% |  |  |  |  |
| Northern Natural Gas Co. <sup>(a)</sup> | 4.100% | 09/15/42 | 1200000 | 979536 |
| REITS - 3.1% |  |  |  |  |
| Agree Ltd. Partnership | 2.900% | 10/01/30 | 650000 | 606138 |
| Agree Ltd. Partnership | 4.800% | 10/01/32 | 715000 | 719906 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Impact Bond Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CORPORATE BONDS - 27.0% (Continued)** | **Coupon** | **Maturity** | **Principal Amount** | **Fair Value** |
| REITS - 3.1% (Continued) |  |  |  |  |
| Alexandria Real Estate Equities, Inc. | 2.950% | 03/15/34 | $1000000 | $863653 |
| Alexandria Real Estate Equities, Inc. | 4.750% | 04/15/35 | 1250000 | 1220759 |
| American Homes 4 Rent, L.P. | 5.500% | 02/01/34 | 2000000 | 2063836 |
| Boston Properties, L.P. | 4.500% | 12/01/28 | 1250000 | 1249149 |
| Camden Property Trust | 2.800% | 05/15/30 | 1500000 | 1406924 |
| Cousins Properties, L.P. <sup>(b)</sup> | 5.375% | 02/15/32 | 1650000 | 1691699 |
| Digital Realty Trust, L.P. | 5.550% | 01/15/28 | 2250000 | 2315999 |
| ERP Operating, L.P. | 4.150% | 12/01/28 | 1250000 | 1253787 |
| ESSEX Portfolio, L.P. | 2.650% | 03/15/32 | 1500000 | 1336877 |
| ESSEX Portfolio, L.P. | 5.500% | 04/01/34 | 250000 | 259642 |
| Federal Realty Investment Trust | 1.250% | 02/15/26 | 515000 | 508741 |
| Federal Realty Investment Trust | 5.375% | 05/01/28 | 1500000 | 1539674 |
| Kilroy Realty Corp. | 2.500% | 11/15/32 | 1750000 | 1454037 |
| Kimco Realty Corp. | 2.700% | 10/01/30 | 1750000 | 1620380 |
| Lexington Realty Trust | 2.700% | 09/15/30 | 1500000 | 1370570 |
| Mid-America Apartment Communities, Inc. | 3.950% | 03/15/29 | 1750000 | 1736861 |
| Ontario Teachers Cadillac Fairview Properties Trust <sup>(a)</sup> | 2.500% | 10/15/31 | 1255000 | 1119259 |
| Prologis, L.P. | 2.875% | 10/06/29 | 1500000 | 1427897 |
| Prologis, L.P. <sup>(b)</sup> | 4.625% | 01/15/33 | 1500000 | 1509692 |
| Realty Income Corp. | 4.700% | 12/15/28 | 1000000 | 1017981 |
| Regency Centers, L.P. | 5.000% | 07/15/32 | 348000 | 356015 |
| Rexford Industrial Realty, L.P. | 5.000% | 06/15/28 | 500000 | 508372 |
| Rexford Industrial Realty, L.P. | 2.150% | 09/01/31 | 1750000 | 1521696 |
| Sun Communities Operating, L.P. | 2.700% | 07/15/31 | 500000 | 452268 |
| UDR, Inc. | 1.900% | 03/15/33 | 1500000 | 1224712 |
| WP Carey, Inc. | 2.450% | 02/01/32 | 1500000 | 1315947 |
|  |  |  |  | 33672471 |
| RETAIL - CONSUMER STAPLES - 0.1% |  |  |  |  |
| Kroger Co. (The) | 5.000% | 04/15/42 | 1000000 | 949205 |
| Walmart, Inc. | 1.800% | 09/22/31 | 500000 | 441127 |
|  |  |  |  | 1390332 |
| RETAIL - DISCRETIONARY - 0.3% |  |  |  |  |
| Home Depot, Inc. (The) | 3.625% | 04/15/52 | 1000000 | 749187 |
| Lowe's Cos., Inc. | 4.650% | 04/15/42 | 1000000 | 920887 |
| Lowe's Cos., Inc. | 3.000% | 10/15/50 | 500000 | 323491 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Impact Bond Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CORPORATE BONDS - 27.0% (Continued)** | **Coupon** | **Maturity** | **Principal Amount** | **Fair Value** |
| RETAIL - DISCRETIONARY - 0.3% (Continued) |  |  |  |  |
| Lowe's Cos., Inc. <sup>(b)</sup> | 5.625% | 04/15/53 | $1000000 | $994453 |
|  |  |  |  | 2988018 |
| SEMICONDUCTORS - 0.2% |  |  |  |  |
| Intel Corp. | 4.150% | 08/05/32 | 1000000 | 964620 |
| Intel Corp. | 3.734% | 12/08/47 | 1000000 | 738615 |
|  |  |  |  | 1703235 |
| SOFTWARE - 0.3% |  |  |  |  |
| Microsoft Corp. | 2.525% | 06/01/50 | 4500000 | 2848824 |
| Microsoft Corp. | 2.921% | 03/17/52 | 1000000 | 678226 |
|  |  |  |  | 3527050 |
| SPECIALTY FINANCE - 0.7% |  |  |  |  |
| BlueHub Loan Fund, Inc. | 3.099% | 01/01/30 | 1030000 | 960866 |
| Community Preservation Corp. (The) | 2.867% | 02/01/30 | 2500000 | 2318408 |
| Low Income Investment Fund | 3.386% | 07/01/26 | 115000 | 113243 |
| Low Income Investment Fund, Series 2019 | 3.711% | 07/01/29 | 1985000 | 1910383 |
| USAA Capital Corp. <sup>(a)</sup> | 2.125% | 05/01/30 | 3000000 | 2748061 |
|  |  |  |  | 8050961 |
| TECHNOLOGY HARDWARE - 0.4% |  |  |  |  |
| Apple, Inc. | 3.000% | 06/20/27 | 1000000 | 987968 |
| Apple, Inc. | 2.650% | 05/11/50 | 1000000 | 640725 |
| Apple, Inc. | 2.650% | 02/08/51 | 2000000 | 1275995 |
| HP, Inc. | 4.750% | 01/15/28 | 1100000 | 1114765 |
| HP, Inc. | 4.000% | 04/15/29 | 915000 | 905560 |
|  |  |  |  | 4925013 |
| TECHNOLOGY SERVICES - 0.2% |  |  |  |  |
| Experian Finance plc <sup>(a)</sup> | 2.750% | 03/08/30 | 635000 | 597062 |
| Moody's Corp. | 3.250% | 05/20/50 | 500000 | 346079 |
| Moody's Corp. | 3.750% | 02/25/52 | 1000000 | 761923 |
|  |  |  |  | 1705064 |
| TELECOMMUNICATIONS - 0.5% |  |  |  |  |
| AT&T, Inc. | 5.250% | 03/01/37 | 500000 | 508641 |
| AT&T, Inc. | 4.750% | 05/15/46 | 2000000 | 1785947 |
| Verizon Communications, Inc. | 3.875% | 02/08/29 | 1000000 | 992798 |
| Verizon Communications, Inc. | 1.500% | 09/18/30 | 1000000 | 874195 |
| Verizon Communications, Inc. | 2.987% | 10/30/56 | 1799000 | 1109246 |
|  |  |  |  | 5270827 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Impact Bond Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CORPORATE BONDS - 27.0% (Continued)** | **Coupon** | **Maturity** | **Principal Amount** | **Fair Value** |
| TRANSPORTATION & LOGISTICS - 1.0% |  |  |  |  |
| Burlington Northern Santa Fe, LLC | 5.750% | 05/01/40 | $2078000 | $2197184 |
| Canadian Pacific Railway Co. | 2.050% | 03/05/30 | 1750000 | 1594376 |
| Norfolk Southern Corp. | 4.837% | 10/01/41 | 1000000 | 952069 |
| Norfolk Southern Corp. | 3.050% | 05/15/50 | 1500000 | 1016748 |
| Penske Truck Leasing Co. <sup>(a)</sup> | 5.750% | 05/24/26 | 500000 | 503963 |
| TTX Co. <sup>(a)</sup> | 4.600% | 02/01/49 | 280000 | 247941 |
| TTX Co. <sup>(a)(b)</sup> | 5.650% | 12/01/52 | 500000 | 512629 |
| Union Pacific Corp. | 4.950% | 09/09/52 | 2000000 | 1863660 |
| United Parcel Service, Inc. | 5.950% | 05/14/55 | 2000000 | 2088685 |
|  |  |  |  | 10977255 |
| TRANSPORTATION EQUIPMENT - 0.1% |  |  |  |  |
| Ryder System, Inc. | 5.650% | 03/01/28 | 1250000 | 1294388 |
| WHOLESALE - CONSUMER STAPLES - 0.1% |  |  |  |  |
| Sysco Corp. | 2.400% | 02/15/30 | 1750000 | 1619075 |
| **TOTAL CORPORATE BONDS** (COST $321,593,293) |  |  |  | $295816812 |
| **CORPORATE NOTES - 0.9%** | **Coupon** | **Maturity** | **Principal Amount** | **Fair Value** |
| COMMUNITY DEVELOPMENT - 0.9% |  |  |  |  |
| Calvert Impact Capital, Inc. <sup>(e)</sup> | 2.500% | 12/15/25 | $650000 | $645698 |
| Calvert Impact Capital, Inc. <sup>(e)</sup> | 4.000% | 06/15/28 | 1200000 | 1156784 |
| Calvert Impact Capital, Inc. <sup>(e)</sup> | 5.000% | 12/15/28 | 450000 | 443642 |
| Calvert Impact Capital, Inc. <sup>(e)</sup> | 5.000% | 06/15/29 | 1800000 | 1756263 |
| Calvert Impact Capital, Inc. <sup>(e)</sup> | 4.500% | 12/14/29 | 550000 | 528936 |
| Calvert Impact Capital, Inc. <sup>(e)</sup> | 4.500% | 06/14/30 | 1800000 | 1705406 |
| Calvert Impact Climate, Inc. <sup>(e)</sup> | 5.500% | 12/15/53 | 991134 | 872561 |
| Capital Impact Partners Investment <sup>(e)</sup> | 4.500% | 12/15/25 | 550000 | 550480 |
| Capital Impact Partners Investment <sup>(e)</sup> | 4.500% | 06/15/26 | 1800000 | 1805336 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Impact Bond Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CORPORATE NOTES - 0.9% (Continued)** | **Coupon** | **Maturity** | **Principal Amount** | **Fair Value** |
| COMMUNITY DEVELOPMENT - 0.9% (Continued) |  |  |  |  |
| Capital Impact Partners Investment <sup>(e)</sup> | 5.000% | 12/15/26 | $500000 | $503425 |
| **TOTAL CORPORATE NOTES** (COST $10,291,134) |  |  |  | $9968531 |
| **FOREIGN GOVERNMENTS - 5.0%** | **Coupon** | **Maturity** | **Principal Amount** | **Fair Value** |
| FOREIGN AGENCY - 0.9% |  |  |  |  |
| BNG Bank N.V. <sup>(a)</sup> | 0.500% | 11/24/25 | $2000000 | $1989194 |
| Kreditanstalt Fur Wiederafbau | 4.375% | 02/28/34 | 7500000 | 7653113 |
|  |  |  |  | 9642307 |
| SUPRANATIONAL - 4.1% |  |  |  |  |
| African Development Bank | 3.500% | 09/18/29 | 2000000 | 1981841 |
| Asian Development Bank | 3.125% | 09/26/28 | 1000000 | 983906 |
| Central American Bank for Economic Integration <sup>(a)</sup> | 1.140% | 02/09/26 | 1200000 | 1186582 |
| European Investment Bank | 2.125% | 04/13/26 | 1000000 | 990424 |
| European Investment Bank | 2.375% | 05/24/27 | 4000000 | 3915898 |
| Inter-American Development Bank | 0.625% | 09/16/27 | 7000000 | 6599327 |
| Inter-American Development Bank | 3.500% | 04/12/33 | 3000000 | 2887467 |
| Inter-American Development Bank | 4.375% | 01/24/44 | 3000000 | 2829854 |
| International Bank for Reconstruction & Development | 3.126% | 11/20/25 | 1000000 | 998446 |
| International Bank for Reconstruction & Development | 0.875% | 07/15/26 | 3000000 | 2930805 |
| International Bank for Reconstruction & Development | 3.125% | 06/15/27 | 4000000 | 3962045 |
| International Bank for Reconstruction & Development | 4.750% | 11/14/33 | 6000000 | 6272029 |
| International Development Association <sup>(a)(b)</sup> | 0.876% | 04/28/26 | 2000000 | 1964884 |
| International Development Association <sup>(a)</sup> | 4.500% | 02/12/35 | 4000000 | 4080903 |
| International Finance Corp., Series GMTN | 2.126% | 04/07/26 | 3000000 | 2971586 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Impact Bond Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FOREIGN GOVERNMENTS - 5.0% (Continued)** | **Coupon** | **Maturity** | **Principal Amount** | **Fair Value** |
| SUPRANATIONAL - 4.1% (Continued) |  |  |  |  |
| International Finance Corp., Series 2622 | 4.375% | 01/15/27 | $1000000 | $1007079 |
|  |  |  |  | 45563076 |
| **TOTAL FOREIGN GOVERNMENTS** (COST $55,277,308) | **TOTAL FOREIGN GOVERNMENTS** (COST $55,277,308) | **TOTAL FOREIGN GOVERNMENTS** (COST $55,277,308) |  | $55205383 |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES - 0.0% <sup>(d)</sup>** | **Coupon** | **Maturity** | **Principal Amount** | **Fair Value** |
| Commercial Mortgage Pass-Through Certificates, Class A-3 <br> (COST $33,484) | 2.853% | 10/17/45 | $32965 | $31932 |
| **U.S. GOVERNMENT AGENCIES - 57.2%** | **Coupon** | **Maturity** | **Principal Amount** | **Fair Value** |
| **DEVELOPMENT FINANCE CORPORATION - 0.7%** |  |  |  |  |
| DFC | 4.469% | 09/15/26 | $166667 | $166667 |
| DFC | 1.590% | 04/15/28 | 2000000 | 1910539 |
| DFC | 1.650% | 04/15/28 | 3500000 | 3367816 |
| DFC | 3.130% | 04/15/28 | 1000000 | 981804 |
| DFC | 3.540% | 06/15/30 | 279428 | 275100 |
| DFC | 3.520% | 09/20/32 | 500000 | 488172 |
|  |  |  |  | 7190098 |
| **FEDERAL FARM CREDIT BANK - 0.3%** |  |  |  |  |
| FFCB | 1.950% | 08/13/40 | 4937000 | 3369814 |
| **FEDERAL HOME LOAN BANK - 6.9%** |  |  |  |  |
| FHLB | 1.250% | 12/21/26 | 4000000 | 3884974 |
| FHLB | 4.125% | 01/15/27 | 7000000 | 7045139 |
| FHLB | 4.250% | 12/10/27 | 11000000 | 11116178 |
| FHLB | 4.500% | 03/10/28 | 3000000 | 3056054 |
| FHLB | 4.000% | 06/30/28 | 3200000 | 3234100 |
| FHLB | 3.250% | 11/16/28 | 13000000 | 12884897 |
| FHLB | 5.500% | 07/15/36 | 18620000 | 20382716 |
| FHLB | 2.590% | 03/19/40 | 4000000 | 2983542 |
| FHLB | 2.340% | 03/26/40 | 1000000 | 733018 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Impact Bond Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **U.S. GOVERNMENT AGENCIES - 57.2% (Continued)** | **Coupon** | **Maturity** | **Principal Amount** | **Fair Value** |
| **FEDERAL HOME LOAN BANK - 6.9% (Continued)** |  |  |  |  |
| FHLB | 2.070% | 06/29/40 | $1715000 | $1202972 |
| FHLB | 2.010% | 07/16/40 | 2685000 | 1843040 |
| FHLB | 5.250% | 03/11/44 | 7200000 | 7402753 |
|  |  |  |  | 75769383 |
| **FEDERAL HOME LOAN MORTGAGE CORPORATION - 22.6%** | **FEDERAL HOME LOAN MORTGAGE CORPORATION - 22.6%** |  |  |  |
| FHLMC | 2.875% | 04/25/26 | 3000000 | 2982188 |
| FHLMC | 6.000% | 04/01/27 | 9049 | 9249 |
| FHLMC | 2.500% | 10/01/27 | 69837 | 68873 |
| FHLMC | 2.738% | 04/25/29 | 1459234 | 1430071 |
| FHLMC | 2.939% | 04/25/29 | 7000000 | 6735902 |
| FHLMC | 2.412% | 08/25/29 | 5780000 | 5454537 |
| FHLMC | 7.000% | 02/01/30 | 6629 | 6928 |
| FHLMC | 1.297% | 06/25/30 | 13000000 | 11471140 |
| FHLMC | 7.500% | 07/01/30 | 10081 | 10317 |
| FHLMC | 1.406% | 08/25/30 | 2000000 | 1769346 |
| FHLMC | 1.503% | 09/25/30 | 5324300 | 4722732 |
| FHLMC | 1.487% | 11/25/30 | 16167800 | 14259000 |
| FHLMC | 1.878% | 01/25/31 | 2720745 | 2445743 |
| FHLMC | 2.000% | 01/25/31 | 3328000 | 2981502 |
| FHLMC | 7.000% | 03/01/31 | 11271 | 11778 |
| FHLMC | 1.777% | 10/25/31 | 5000000 | 4382791 |
| FHLMC | 2.154% | 10/25/31 | 4000000 | 3572190 |
| FHLMC | 2.091% | 11/25/31 | 11700000 | 10378606 |
| FHLMC | 2.127% | 11/25/31 | 9000000 | 8008921 |
| FHLMC | 2.250% | 01/25/32 | 5000000 | 4464955 |
| FHLMC | 2.450% | 04/25/32 | 7100000 | 6382353 |
| FHLMC | 2.650% | 05/25/32 | 12450000 | 11298124 |
| FHLMC | 6.250% | 07/15/32 | 7050000 | 8002718 |
| FHLMC | 3.123% | 08/25/32 | 5710000 | 5321035 |
| FHLMC | 3.000% | 11/01/32 | 202260 | 196192 |
| FHLMC | 3.000% | 11/01/32 | 270964 | 262826 |
| FHLMC | 2.459% | 07/25/33 | 3000000 | 2564222 |
| FHLMC | 5.500% | 11/01/33 | 11581 | 11691 |
| FHLMC (H15T1Y + 223.10) <sup>(c)</sup> | 6.231% | 05/01/34 | 15528 | 15983 |
| FHLMC | 1.783% | 06/25/34 | 2084061 | 1732087 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Impact Bond Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **U.S. GOVERNMENT AGENCIES - 57.2% (Continued)** | **Coupon** | **Maturity** | **Principal Amount** | **Fair Value** |
| **FEDERAL HOME LOAN MORTGAGE CORPORATION - 22.6% (Continued)** | **FEDERAL HOME LOAN MORTGAGE CORPORATION - 22.6% (Continued)** | **FEDERAL HOME LOAN MORTGAGE CORPORATION - 22.6% (Continued)** |  |  |
| FHLMC | 5.000% | 07/01/35 | $32279 | $32894 |
| FHLMC | 4.500% | 10/01/35 | 47073 | 47474 |
| FHLMC | 2.438% | 02/25/36 | 4000000 | 3290296 |
| FHLMC | 5.500% | 03/01/36 | 13346 | 13902 |
| FHLMC | 1.500% | 04/01/36 | 4058888 | 3641791 |
| FHLMC | 5.500% | 06/01/36 | 18696 | 19476 |
| FHLMC | 6.000% | 06/01/36 | 17721 | 18478 |
| FHLMC | 5.500% | 12/01/36 | 15417 | 16060 |
| FHLMC | 2.000% | 02/01/37 | 3291305 | 3024639 |
| FHLMC | 6.000% | 08/01/37 | 6744 | 7092 |
| FHLMC | 5.000% | 03/01/38 | 81333 | 83489 |
| FHLMC | 0.000% | 11/15/38 | 4331000 | 2350288 |
| FHLMC | 4.500% | 06/01/39 | 84073 | 84713 |
| FHLMC | 5.000% | 06/01/39 | 130083 | 133389 |
| FHLMC | 4.500% | 07/01/39 | 83936 | 84524 |
| FHLMC | 4.500% | 11/01/39 | 76732 | 77222 |
| FHLMC | 4.500% | 09/01/40 | 121170 | 121434 |
| FHLMC | 4.500% | 05/01/41 | 238484 | 238855 |
| FHLMC | 4.500% | 07/01/41 | 262322 | 262945 |
| FHLMC | 5.000% | 09/01/41 | 107763 | 110493 |
| FHLMC | 3.500% | 10/01/41 | 128908 | 123072 |
| FHLMC | 4.000% | 10/01/41 | 144553 | 140759 |
| FHLMC | 3.500% | 02/01/42 | 234340 | 222327 |
| FHLMC | 4.000% | 02/01/42 | 61078 | 59525 |
| FHLMC | 3.500% | 06/01/42 | 266433 | 252774 |
| FHLMC | 3.500% | 06/01/42 | 271070 | 257342 |
| FHLMC | 3.500% | 08/01/42 | 317433 | 300570 |
| FHLMC | 3.000% | 11/01/42 | 610811 | 562595 |
| FHLMC | 3.000% | 01/01/43 | 349181 | 321507 |
| FHLMC | 3.000% | 05/01/43 | 455453 | 419121 |
| FHLMC | 3.500% | 10/01/44 | 266873 | 251252 |
| FHLMC | 3.500% | 11/01/44 | 241804 | 227601 |
| FHLMC | 3.500% | 04/01/45 | 305096 | 286811 |
| FHLMC | 3.000% | 05/01/46 | 528555 | 478241 |
| FHLMC | 3.000% | 12/01/46 | 1301449 | 1177831 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Impact Bond Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **U.S. GOVERNMENT AGENCIES - 57.2% (Continued)** | **Coupon** | **Maturity** | **Principal Amount** | **Fair Value** |
| **FEDERAL HOME LOAN MORTGAGE CORPORATION - 22.6% (Continued)** | **FEDERAL HOME LOAN MORTGAGE CORPORATION - 22.6% (Continued)** | **FEDERAL HOME LOAN MORTGAGE CORPORATION - 22.6% (Continued)** |  |  |
| FHLMC | 3.500% | 03/01/48 | $1426340 | $1333258 |
| FHLMC | 3.500% | 03/01/49 | 395916 | 366737 |
| FHLMC | 3.500% | 07/01/49 | 640007 | 591709 |
| FHLMC | 3.000% | 09/01/49 | 756267 | 672550 |
| FHLMC | 3.000% | 07/01/50 | 1870812 | 1650130 |
| FHLMC | 2.000% | 08/01/50 | 2730375 | 2216833 |
| FHLMC | 2.050% | 08/19/50 | 2500000 | 1374294 |
| FHLMC | 2.000% | 01/01/51 | 6725035 | 5472694 |
| FHLMC | 2.500% | 04/01/51 | 6582227 | 5593519 |
| FHLMC | 2.000% | 08/01/51 | 2800273 | 2270446 |
| FHLMC | 2.500% | 09/01/51 | 2587031 | 2185752 |
| FHLMC | 2.000% | 01/01/52 | 5015060 | 4065362 |
| FHLMC | 2.500% | 02/01/52 | 5473318 | 4628072 |
| FHLMC | 2.000% | 04/01/52 | 4142388 | 3346379 |
| FHLMC | 3.000% | 04/01/52 | 4777734 | 4206918 |
| FHLMC | 2.500% | 05/01/52 | 5781123 | 4878327 |
| FHLMC | 3.000% | 05/01/52 | 8133413 | 7160200 |
| FHLMC | 3.000% | 07/01/52 | 15145172 | 13311886 |
| FHLMC | 4.000% | 07/01/52 | 4884441 | 4616372 |
| FHLMC | 4.000% | 08/01/52 | 4939194 | 4668117 |
| FHLMC | 3.500% | 09/01/52 | 10894519 | 9970696 |
| FHLMC | 4.500% | 09/01/52 | 8264129 | 8059017 |
| FHLMC | 4.000% | 10/01/52 | 9970210 | 9418369 |
| FHLMC | 5.500% | 05/01/53 | 5603008 | 5672480 |
|  |  |  |  | 247424899 |
| **FEDERAL NATIONAL MORTGAGE ASSOCIATION - 24.6%** | **FEDERAL NATIONAL MORTGAGE ASSOCIATION - 24.6%** | **FEDERAL NATIONAL MORTGAGE ASSOCIATION - 24.6%** |  |  |
| FNMA | 3.500% | 10/01/25 | 18 | 18 |
| FNMA | 5.000% | 10/01/25 | 13 | 13 |
| FNMA | 5.500% | 11/01/25 | 5 | 5 |
| FNMA | 4.000% | 03/01/26 | 7567 | 7539 |
| FNMA | 2.910% | 04/01/26 | 3000000 | 2975625 |
| FNMA | 2.125% | 04/24/26 | 2000000 | 1980917 |
| FNMA | 2.500% | 09/01/27 | 71346 | 70322 |
| FNMA | 0.750% | 10/08/27 | 8000000 | 7559984 |
| FNMA | 2.500% | 11/01/27 | 123018 | 121194 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Impact Bond Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **U.S. GOVERNMENT AGENCIES - 57.2% (Continued)** | **Coupon** | **Maturity** | **Principal Amount** | **Fair Value** |
| **FEDERAL NATIONAL MORTGAGE ASSOCIATION - 24.6% (Continued)** | **FEDERAL NATIONAL MORTGAGE ASSOCIATION - 24.6% (Continued)** | **FEDERAL NATIONAL MORTGAGE ASSOCIATION - 24.6% (Continued)** |  |  |
| FNMA | 2.500% | 01/01/28 | $80702 | $79426 |
| FNMA <sup>(c)</sup> | 3.421% | 06/25/28 | 1578585 | 1555147 |
| FNMA | 3.661% | 09/25/28 | 2836342 | 2800968 |
| FNMA | 2.530% | 05/01/29 | 3949068 | 3746963 |
| FNMA | 2.522% | 08/27/29 | 5251836 | 4966126 |
| FNMA | 0.875% | 08/05/30 | 24000000 | 20980344 |
| FNMA | 6.625% | 11/15/30 | 12750000 | 14410859 |
| FNMA <sup>(c)</sup> | 1.517% | 11/25/30 | 3000000 | 2607158 |
| FNMA | 1.249% | 12/25/30 | 4000000 | 3447848 |
| FNMA <sup>(c)</sup> | 1.428% | 12/25/30 | 5000000 | 4345545 |
| FNMA | 1.286% | 01/25/31 | 16000000 | 13876622 |
| FNMA | 1.410% | 02/01/31 | 3000000 | 2609617 |
| FNMA | 1.421% | 03/25/31 | 1000000 | 859002 |
| FNMA | 1.820% | 06/01/31 | 2000000 | 1749071 |
| FNMA | 1.583% | 09/25/31 | 1125000 | 970614 |
| FNMA | 2.000% | 01/01/32 | 688824 | 655416 |
| FNMA | 3.759% | 08/25/32 | 6000000 | 5780915 |
| FNMA | 1.740% | 11/25/32 | 5000000 | 4234042 |
| FNMA | 3.000% | 12/01/32 | 303220 | 292551 |
| FNMA | 4.648% | 04/25/33 | 2000000 | 2013351 |
| FNMA | 6.000% | 10/01/33 | 7740 | 7933 |
| FNMA | 5.500% | 02/01/34 | 14360 | 14727 |
| FNMA (H15T1Y + 211.70) <sup>(c)</sup> | 6.340% | 05/01/34 | 12123 | 12352 |
| FNMA | 6.000% | 11/01/34 | 33305 | 34682 |
| FNMA | 5.500% | 01/01/35 | 20661 | 21664 |
| FNMA | 2.500% | 02/01/35 | 778227 | 739596 |
| FNMA | 5.000% | 10/01/35 | 31070 | 31804 |
| FNMA | 5.500% | 10/01/35 | 37121 | 38623 |
| FNMA | 6.000% | 10/01/35 | 17848 | 18413 |
| FNMA | 5.500% | 06/01/36 | 9128 | 9469 |
| FNMA | 6.000% | 06/01/36 | 9859 | 10389 |
| FNMA | 5.500% | 11/01/36 | 14038 | 14607 |
| FNMA (RFUCCT1Y + 156.50) <sup>(c)</sup> | 6.440% | 05/01/37 | 1790 | 1803 |
| FNMA | 5.625% | 07/15/37 | 14250000 | 15763046 |
| FNMA | 2.500% | 10/25/37 | 1304062 | 1171748 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Impact Bond Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **U.S. GOVERNMENT AGENCIES - 57.2% (Continued)** | **Coupon** | **Maturity** | **Principal Amount** | **Fair Value** |
| **FEDERAL NATIONAL MORTGAGE ASSOCIATION - 24.6% (Continued)** | **FEDERAL NATIONAL MORTGAGE ASSOCIATION - 24.6% (Continued)** | **FEDERAL NATIONAL MORTGAGE ASSOCIATION - 24.6% (Continued)** |  |  |
| FNMA | 4.500% | 09/01/40 | $70164 | $70312 |
| FNMA | 4.500% | 10/01/40 | 69058 | 69182 |
| FNMA | 4.000% | 12/01/40 | 186218 | 181575 |
| FNMA | 4.000% | 01/01/41 | 127067 | 123820 |
| FNMA | 3.500% | 02/01/41 | 193148 | 184283 |
| FNMA | 4.000% | 10/01/41 | 100875 | 98172 |
| FNMA | 4.000% | 11/01/41 | 115271 | 112183 |
| FNMA | 4.000% | 12/01/41 | 196601 | 191211 |
| FNMA | 4.000% | 12/01/41 | 137494 | 133725 |
| FNMA | 4.000% | 01/01/42 | 439290 | 429632 |
| FNMA | 3.500% | 05/01/42 | 228552 | 216574 |
| FNMA | 3.000% | 06/01/42 | 429613 | 395358 |
| FNMA | 3.000% | 08/01/42 | 342340 | 315044 |
| FNMA | 3.000% | 08/01/42 | 314377 | 289310 |
| FNMA | 3.500% | 12/01/42 | 455625 | 431465 |
| FNMA | 3.000% | 06/01/43 | 393346 | 361616 |
| FNMA | 4.000% | 12/01/44 | 515546 | 500207 |
| FNMA | 3.500% | 05/01/45 | 605402 | 569149 |
| FNMA | 3.000% | 04/01/46 | 516630 | 467632 |
| FNMA | 3.500% | 11/01/46 | 861222 | 809656 |
| FNMA | 4.000% | 10/01/48 | 389869 | 374402 |
| FNMA | 4.000% | 11/01/48 | 1097219 | 1048547 |
| FNMA | 3.500% | 05/01/49 | 322550 | 298275 |
| FNMA | 4.000% | 06/01/49 | 493220 | 467941 |
| FNMA | 3.500% | 08/01/49 | 1307587 | 1208280 |
| FNMA | 3.000% | 09/01/49 | 725917 | 645559 |
| FNMA | 3.000% | 06/01/50 | 1499891 | 1333130 |
| FNMA | 2.500% | 07/01/50 | 2493140 | 2125332 |
| FNMA | 2.500% | 08/01/50 | 1763774 | 1501937 |
| FNMA | 3.000% | 08/01/50 | 2660772 | 2362461 |
| FNMA | 2.000% | 11/01/50 | 4532173 | 3690081 |
| FNMA | 2.000% | 01/01/51 | 8105398 | 6594316 |
| FNMA | 2.000% | 02/01/51 | 4813459 | 3908081 |
| FNMA | 2.500% | 04/01/51 | 13407308 | 11378819 |
| FNMA | 2.000% | 08/01/51 | 11414869 | 9266452 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Impact Bond Fund**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **U.S. GOVERNMENT AGENCIES - 57.2% (Continued)** | **Coupon** | **Maturity** | **Maturity** | **Principal Amount** | **Fair Value** |
| **FEDERAL NATIONAL MORTGAGE ASSOCIATION - 24.6% (Continued)** | **FEDERAL NATIONAL MORTGAGE ASSOCIATION - 24.6% (Continued)** | **FEDERAL NATIONAL MORTGAGE ASSOCIATION - 24.6% (Continued)** |  |  |  |
| FNMA | 2.000% |  | 11/01/51 | $4748208 | $3849259 |
| FNMA | 2.500% |  | 12/01/51 | 7553100 | 6390577 |
| FNMA | 2.500% |  | 05/01/52 | 4953295 | 4193609 |
| FNMA | 3.500% |  | 05/01/52 | 14136304 | 12938373 |
| FNMA | 3.500% |  | 05/01/52 | 6771202 | 6188702 |
| FNMA | 3.000% |  | 07/01/52 | 4193305 | 3690814 |
| FNMA | 4.500% |  | 07/01/52 | 11780260 | 11481804 |
| FNMA | 4.500% |  | 08/01/52 | 5527331 | 5386722 |
| FNMA | 3.500% |  | 09/01/52 | 4207352 | 3850144 |
| FNMA | 4.000% |  | 09/01/52 | 12239245 | 11576922 |
| FNMA | 4.500% |  | 10/01/52 | 6338002 | 6180696 |
| FNMA | 5.000% |  | 04/01/53 | 9043700 | 9010742 |
| FNMA | 5.000% |  | 06/01/53 | 3581146 | 3566250 |
| FNMA | 5.000% |  | 10/01/53 | 6164492 | 6134083 |
|  |  |  |  |  | 269180474 |
| **GOVERNMENT NATIONAL MORTGAGE ASSOCIATION - 0.7%** | **GOVERNMENT NATIONAL MORTGAGE ASSOCIATION - 0.7%** | **GOVERNMENT NATIONAL MORTGAGE ASSOCIATION - 0.7%** |  |  |  |
| GNMA | 7.000% |  | 12/20/30 | 4370 | 4480 |
| GNMA | 7.000% |  | 10/20/31 | 3447 | 3649 |
| GNMA | 7.000% |  | 03/20/32 | 15545 | 16122 |
| GNMA (H15T1Y + 150.00) <sup>(c)</sup> | 5.625% |  | 01/20/34 | 9955 | 10108 |
| GNMA | 5.500% |  | 10/20/38 | 4506 | 4485 |
| GNMA | 6.500% |  | 11/20/38 | 2787 | 2880 |
| GNMA | 3.500% |  | 08/20/52 | 3547898 | 3247327 |
| GNMA | 3.500% |  | 11/20/52 | 4175641 | 3821779 |
|  |  |  |  |  | 7110830 |
| **SMALL BUSINESS ADMINISTRATION - 0.0% <sup>(d)</sup>** | **SMALL BUSINESS ADMINISTRATION - 0.0% <sup>(d)</sup>** | **SMALL BUSINESS ADMINISTRATION - 0.0% <sup>(d)</sup>** |  |  |  |
| SBA (Prime - 2.65) <sup>(c)</sup> | 4.850% |  | 02/25/32 | 3815 | 3783 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** |
| ***Praxis Impact Bond Fund*** | ***Praxis Impact Bond Fund*** | ***Praxis Impact Bond Fund*** | ***Praxis Impact Bond Fund*** | ***Praxis Impact Bond Fund*** | ***Praxis Impact Bond Fund*** |
| **U.S. GOVERNMENT AGENCIES - 57.2% (Continued)** | **Coupon** | **Maturity** | **Maturity** | **Principal Amount** | **Fair Value** |
| **TENNESSEE VALLEY AUTHORITY - 1.4%** |  |  |  |  |  |
| TVA | 4.250% |  | 09/15/52 | $5000000 | $4270939 |
| TVA | 5.250% |  | 02/01/55 | 5500000 | 5497952 |
| TVA | 4.250% |  | 09/15/65 | 7000000 | 5785408 |
|  |  |  |  |  | 15554299 |
| **TOTAL U.S. GOVERNMENT AGENCIES** (COST $642,730,575) | **TOTAL U.S. GOVERNMENT AGENCIES** (COST $642,730,575) | **TOTAL U.S. GOVERNMENT AGENCIES** (COST $642,730,575) | **TOTAL U.S. GOVERNMENT AGENCIES** (COST $642,730,575) |  | $625603580 |
| **MONEY MARKET FUNDS - 2.6%** |  |  |  | **Shares** | **Fair Value** |
| First American Government Obligations Fund - Class X, 4.05% <sup>(f)</sup> (COST $27,982,490) | First American Government Obligations Fund - Class X, 4.05% <sup>(f)</sup> (COST $27,982,490) | First American Government Obligations Fund - Class X, 4.05% <sup>(f)</sup> (COST $27,982,490) | First American Government Obligations Fund - Class X, 4.05% <sup>(f)</sup> (COST $27,982,490) | 27982490 | $27982490 |
| **INVESTMENT PURCHASED WITH THE CASH PROCEEDS FROM SECURITIES LENDING - 0.9%** | **INVESTMENT PURCHASED WITH THE CASH PROCEEDS FROM SECURITIES LENDING - 0.9%** | **INVESTMENT PURCHASED WITH THE CASH PROCEEDS FROM SECURITIES LENDING - 0.9%** | **INVESTMENT PURCHASED WITH THE CASH PROCEEDS FROM SECURITIES LENDING - 0.9%** | **Shares** | **Fair Value** |
| Mount Vernon Liquid Assets Portfolio, LLC, 4.22% <sup>(f)(g)</sup> (COST $9,367,385) | Mount Vernon Liquid Assets Portfolio, LLC, 4.22% <sup>(f)(g)</sup> (COST $9,367,385) | Mount Vernon Liquid Assets Portfolio, LLC, 4.22% <sup>(f)(g)</sup> (COST $9,367,385) | Mount Vernon Liquid Assets Portfolio, LLC, 4.22% <sup>(f)(g)</sup> (COST $9,367,385) | 9367385 | $9367385 |
| **INVESTMENT COMPANIES - 0.3%** |  |  |  | **Shares** | **Fair Value** |
| Impax High Yield Bond Fund - Institutional Class (COST $4,199,236) | Impax High Yield Bond Fund - Institutional Class (COST $4,199,236) | Impax High Yield Bond Fund - Institutional Class (COST $4,199,236) |  | 530984 | $3276170 |
| **TOTAL INVESTMENTS -** (COST $1,146,580,092) **- 100.6%** | **TOTAL INVESTMENTS -** (COST $1,146,580,092) **- 100.6%** | **TOTAL INVESTMENTS -** (COST $1,146,580,092) **- 100.6%** |  |  | $1100859840 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS - (0.6%)** | **LIABILITIES IN EXCESS OF OTHER ASSETS - (0.6%)** | **LIABILITIES IN EXCESS OF OTHER ASSETS - (0.6%)** |  |  | (6213807) |
| **NET ASSETS - 100.0%** |  |  |  |  | $1094646033 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis Impact Bond Fund***

<sup>(a)</sup> 144a security may only be resold to qualified institutional investors. These securities were deemed liquid under guidelines established by the Board of Trustees. As of September 30, 2025, these securities have a value of $114,520,842 or 10.5% of net assets.

<sup>(b)</sup> All or a portion of the security is on loan. The total fair value of the securities on loan as of September 30, 2025 was $9,171,265.

<sup>(c)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of September 30, 2025. 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.

<sup>(d)</sup> Percentage rounds to less than 0.1%.

<sup>(e)</sup> Illiquid securities are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br> Date | Current <br> Cost | Fair <br>Value | % of Net <br> Assets |
| Calvert Impact Capital, Inc., 2.500%, 12/15/25 | 12/15/20 | $650000 | $645698 | 0.1% |
| Calvert Impact Capital, Inc., 4.000%, 06/15/28 | 06/15/23 | 1200000 | 1156784 | 0.1% |
| Calvert Impact Capital, Inc., 5.000%, 12/15/28 | 12/15/23 | 450000 | 443642 | 0.0 %<sup>(d)</sup> |
| Calvert Impact Capital, Inc., 5.000%, 06/15/29 | 06/14/24 | 1800000 | 1756263 | 0.2% |
| Calvert Impact Capital, Inc., 4.500%, 12/14/29 | 12/13/24 | 550000 | 528936 | 0.0 %<sup>(d)</sup> |
| Calvert Impact Capital, Inc., 4.500%, 06/14/30 | 06/13/25 | 1800000 | 1705406 | 0.1% |
| Calvert Impact Climate, Inc., 5.500%, 12/15/53 | 10/13/23 | 991134 | 872561 | 0.1% |
| Capital Impact Partners Investment, 4.500%, 12/15/25 | 12/16/24 | 550000 | 550480 | 0.1% |
| Capital Impact Partners Investment, 4.500%, 06/15/26 | 06/17/25 | 1800000 | 1805336 | 0.2% |
| Capital Impact Partners Investment, 5.000%, 12/15/26 | 12/15/23 | 500000 | 503425 | 0.0 %<sup>(d)</sup> |
|  |  | $10291134 | $9968531 | 0.9% |

---

<sup>(f)</sup> The rate shown is the 7-day effective yield as of September 30, 2025. <br> <sup>(g)</sup> 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 |
| plc - Public Liability Company |
| REIT - Real Estate Investment Trust |
| RFUCCT - Refinitiv USD IBOR Consumer Cash Fallbacks |
| SOFR - Secured Overnight Financing Rate |
| TSFR - CME Term SOFR |

---

**Schedule of Portfolio Investments**

***Praxis International Index Fund***

**September 30, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.2%** | **Shares** | **Fair Value** |
| **AUSTRALIA - 4.1%** |  |  |
| ANZ Group Holdings Ltd. | 40646 | $893056 |
| BlueScope Steel Ltd. | 21201 | 318260 |
| Brambles Ltd. | 133068 | 2183319 |
| Commonwealth Bank of Australia | 29614 | 3269981 |
| Computershare Ltd. | 20272 | 486716 |
| CSL Ltd. - ADR | 7282 | 476971 |
| CSL Ltd. | 3640 | 477306 |
| Dexus | 232164 | 1102837 |
| Goodman Group | 53074 | 1151019 |
| GPT Group (The) | 90335 | 320939 |
| Mirvac Group | 249710 | 375019 |
| National Australia Bank Ltd. | 36653 | 1070612 |
| Pro Medicus Ltd. | 1803 | 367745 |
| Scentre Group | 526498 | 1421179 |
| SEEK Ltd. | 39173 | 738883 |
| Sonic Healthcare Ltd. | 11426 | 162073 |
| Stockland | 177423 | 718378 |
| Transurban Group | 260568 | 2378987 |
| Vicinity Centres | 397679 | 663018 |
| Wesfarmers Ltd. | 32429 | 1974275 |
| Woodside Energy Group Ltd. | 80841 | 1231735 |
|  |  | 21782308 |
| **AUSTRIA - 0.3%** |  |  |
| Erste Group Bank AG | 5331 | 520708 |
| Verbund AG | 6899 | 501348 |
| voestalpine AG | 12072 | 430556 |
|  |  | 1452612 |
| **BELGIUM - 0.9%** |  |  |
| Elia Group S.A. / N.V. | 4796 | 552627 |
| KBC Group N.V. | 12677 | 1509840 |
| Sofina S.A. | 1200 | 353604 |
| UCB S.A. | 9252 | 2552500 |
|  |  | 4968571 |
| **BERMUDA - 0.6%** |  |  |
| Credicorp Ltd. | 9750 | 2596230 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis International Index Fund***

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.2% (Continued)** | **Shares** | **Fair Value** |
| **BERMUDA - 0.6% (Continued)** |  |  |
| Orient Overseas International Ltd. | 34000 | $551822 |
|  |  | 3148052 |
| **BRAZIL - 1.3%** |  |  |
| Banco do Brasil S.A. - ADR | 196076 | 831362 |
| Banco Santander Brasil S.A. - ADR | 65143 | 364149 |
| MBRF Global Foods Co. S.A. - ADR | 67105 | 238892 |
| Suzano S.A. - ADR <sup>(a)</sup> | 84081 | 790362 |
| Telefónica Brasil S.A. - ADR | 259146 | 3304112 |
| TIM S.A. - ADR <sup>(a)</sup> | 72269 | 1613044 |
|  |  | 7141921 |
| **CANADA - 7.9%** |  |  |
| Agnico Eagle Mines Ltd. | 2236 | 376900 |
| Bank of Montreal <sup>(a)</sup> | 17350 | 2259838 |
| Bank of Nova Scotia (The) | 10199 | 659365 |
| Brookfield Corp. <sup>(a)</sup> | 11000 | 754380 |
| Canadian Imperial Bank of Commerce | 25453 | 2033440 |
| Canadian National Railway Co. | 15841 | 1493806 |
| Canadian Pacific Kansas City Ltd. | 16665 | 1241376 |
| CGI, Inc. | 8100 | 721953 |
| Dollarama, Inc. | 5705 | 752521 |
| Fortis, Inc. | 5051 | 256288 |
| Franco-Nevada Corp. <sup>(a)</sup> | 12999 | 2897607 |
| Gildan Activewear, Inc. <sup>(a)</sup> | 18362 | 1061324 |
| Manulife Financial Corp. | 75463 | 2350672 |
| National Bank of Canada | 5063 | 537902 |
| Nutrien Ltd. | 9260 | 543655 |
| Pembina Pipeline Corp. <sup>(a)</sup> | 55575 | 2248565 |
| RB Global, Inc. <sup>(a)</sup> | 6407 | 694263 |
| Restaurant Brands International, Inc. <sup>(a)</sup> | 11589 | 743318 |
| Royal Bank of Canada | 26330 | 3878936 |
| Shopify, Inc. - Class A <sup>(b)</sup> | 18309 | 2720900 |
| Stantec, Inc. | 6147 | 662647 |
| Sun Life Financial, Inc. | 28402 | 1704972 |
| Teck Resources Ltd. - Class B <sup>(a)</sup> | 42461 | 1863613 |
| Thomson Reuters Corp. | 17868 | 2775436 |
| Toronto-Dominion Bank (The) | 23372 | 1868591 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis International Index Fund***

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.2% (Continued)** | **Shares** | **Fair Value** |
| **CANADA - 7.9% (Continued)** |  |  |
| Wheaton Precious Metals Corp. | 35850 | $4009464 |
| WSP Global, Inc. | 5799 | 1139837 |
|  |  | 42251569 |
| **CAYMAN ISLANDS - 4.8%** |  |  |
| Akeso, Inc. <sup>(b)</sup> | 20000 | 362895 |
| Alibaba Group Holding Ltd. - ADR <sup>(a)</sup> | 36422 | 6509704 |
| BeOne Medicines Ltd. - ADR <sup>(a)(b)</sup> | 2287 | 779181 |
| China Literature Ltd. <sup>(b)</sup> | 97400 | 494143 |
| CK Asset Holdings Ltd. | 133000 | 644674 |
| ENN Energy Holdings Ltd. | 60300 | 498635 |
| Hansoh Pharmaceutical Group Co. Ltd. | 102000 | 472653 |
| Li Auto, Inc. - ADR <sup>(a)(b)</sup> | 13041 | 330459 |
| Meituan - ADR <sup>(a)(b)</sup> | 37651 | 1004529 |
| Shenzhou International Group Holdings Ltd. | 61800 | 489596 |
| Tencent Holdings Ltd. - ADR | 114280 | 9730942 |
| Trip.com Group Ltd. - ADR | 19946 | 1499939 |
| Vipshop Holdings Ltd. - ADR | 21137 | 415131 |
| WuXi Biologics Cayman, Inc. <sup>(b)</sup> | 288500 | 1519268 |
| XPeng, Inc. - ADR <sup>(a)(b)</sup> | 27625 | 646977 |
|  |  | 25398726 |
| **CHILE - 0.2%** |  |  |
| Banco de Chile - ADR | 18637 | 564701 |
| Sociedad Quimica y Minera de Chile S.A. - ADR <sup>(a)(b)</sup> | 12932 | 555818 |
|  |  | 1120519 |
| **CHINA - 3.2%** |  |  |
| Agricultural Bank of China Ltd. - H Shares | 2216000 | 1495015 |
| ANTA Sports Products Ltd. | 61600 | 740132 |
| Bank of China Ltd. - H Shares | 3583000 | 1961431 |
| BYD Co. Ltd. - ADR | 36024 | 507578 |
| BYD Co. Ltd. - H Shares | 49500 | 700976 |
| China CITIC Bank Corp. Ltd. - H Shares | 1185000 | 1018735 |
| China Merchants Bank Co. Ltd. - H Shares | 83000 | 498734 |
| China Minsheng Banking Corp. Ltd. - H Shares | 1287000 | 679731 |
| COSCO SHIPPING Holdings Co. Ltd. - H Shares | 186000 | 289450 |
| Guotai Haitong Securities Co. Ltd. - H Shares | 539200 | 1112787 |
| Industrial & Commercial Bank of China Ltd. - H Shares | 1755000 | 1294511 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis International Index Fund***

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.2% (Continued)** | **Shares** | **Fair Value** |
| **CHINA - 3.2% (Continued)** |  |  |
| Jiangsu Expressway Co. Ltd. - H Shares | 1248000 | $1446564 |
| PICC Property & Casualty Co. Ltd. - H Shares | 294000 | 663420 |
| Ping An Insurance Group Co. of China Ltd. - H Shares | 334818 | 2282500 |
| Postal Savings Bank of China Co. Ltd. - H Shares | 615000 | 431503 |
| Sinopharm Group Co. Ltd. - H Shares | 382000 | 900283 |
| Weichai Power Co. Ltd. - H Shares | 171000 | 306540 |
| Yum China Holdings, Inc. | 12344 | 529804 |
| Zhejiang Leapmotor Technology Co. Ltd. <sup>(b)</sup> | 35700 | 304387 |
|  |  | 17164081 |
| **COLOMBIA - 0.5%** |  |  |
| Grupo Cibest S.A. - ADR | 50160 | 2605310 |
| **DENMARK - 1.1%** |  |  |
| A.P. Moller-Maersk A/S - Series B | 317 | 621458 |
| Coloplast A/S - Series B | 1322 | 112899 |
| DSV A/S | 4551 | 905078 |
| Genmab A/S - ADR <sup>(b)</sup> | 6790 | 208249 |
| Novo Nordisk A/S - ADR <sup>(a)</sup> | 59796 | 3318080 |
| Novonesis Novozymes - ADR | 960 | 58685 |
| Orsted A/S - ADR <sup>(a)(b)</sup> | 5406 | 73900 |
| Orsted A/S <sup>(b)</sup> | 6282 | 112188 |
| Vestas Wind Systems A/S | 28304 | 533292 |
|  |  | 5943829 |
| **FINLAND - 0.6%** |  |  |
| Neste OYJ | 55141 | 1008890 |
| Nokia Corp. - ADR <sup>(a)</sup> | 203176 | 977277 |
| Nordea Bank Abp | 38441 | 630022 |
| UPM-Kymmene OYJ | 17277 | 471984 |
|  |  | 3088173 |
| **FRANCE - 5.8%** |  |  |
| Acciona SA | 2979 | 597688 |
| Accor S.A. | 4739 | 224210 |
| Air Liquide S.A. - ADR | 4 | 166 |
| Air Liquide S.A. | 15036 | 3121938 |
| AXA S.A. | 33469 | 1596830 |
| Bureau Veritas S.A. | 24613 | 769770 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis International Index Fund***

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.2% (Continued)** | **Shares** | **Fair Value** |
| **FRANCE - 5.8% (Continued)** |  |  |
| Canal+ S.A. | 46775 | $154124 |
| Capgemini SE | 5588 | 810516 |
| Cie Generale des Etablissements Michelin SCA | 32714 | 1172911 |
| Danone S.A. | 20742 | 1805854 |
| Dassault Systemes SE | 8424 | 281954 |
| EssilorLuxottica S.A. | 6450 | 2089927 |
| Eurofins Scientific SE | 6072 | 440395 |
| Getlink SE | 46322 | 851611 |
| Hermes International SCA | 830 | 2029690 |
| Kering S.A. | 2777 | 921157 |
| Klepierre S.A. | 20396 | 794003 |
| Legrand S.A. | 15771 | 2603196 |
| L'Oreal S.A. - ADR <sup>(a)</sup> | 21745 | 1883987 |
| L'Oreal S.A. | 1380 | 597006 |
| Louis Hachette Group | 46775 | 84731 |
| Publicis Groupe S.A. | 12555 | 1203912 |
| Sartorius Stedim Biotech | 1868 | 377306 |
| Schneider Electric SE - ADR | 4885 | 273658 |
| Schneider Electric SE | 17677 | 4930800 |
| Societe Generale S.A. - ADR | 8915 | 118659 |
| Societe Generale S.A. | 12929 | 855457 |
| Unibail-Rodamco-Westfield - CDI <sup>(b)(c)</sup> | 45646 | 246123 |
| Vivendi SE | 1 | 3 |
| Wendel SE | 2561 | 245036 |
|  |  | 31082618 |
| **GERMANY - 4.6%** |  |  |
| adidas AG - ADR | 5158 | 546593 |
| adidas AG | 1323 | 278641 |
| Allianz SE - ADR | 76050 | 3191818 |
| Allianz SE | 5268 | 2210358 |
| Aumovio S.E. <sup>(b)</sup> | 2165 | 89264 |
| Bayerische Moteren Werke AG - ADR | 2 | 67 |
| Bayerische Motoren Werke AG | 4180 | 419276 |
| Brenntag SE | 15660 | 935776 |
| Commerzbank AG | 24099 | 907886 |
| Continental AG | 4331 | 285344 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis International Index Fund***

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.2% (Continued)** | **Shares** | **Fair Value** |
| **GERMANY - 4.6% (Continued)** |  |  |
| Covestro AG <sup>(b)</sup> | 2464 | $168586 |
| Deutsche Bank AG <sup>(a)</sup> | 29519 | 1045268 |
| Deutsche Boerse AG | 8869 | 2374993 |
| Deutsche Post AG - ADR | 9971 | 444208 |
| Deutsche Post AG | 14726 | 655910 |
| Deutsche Telekom AG - ADR | 30009 | 1024807 |
| Deutsche Telekom AG | 25629 | 872854 |
| E.ON SE - ADR | 9923 | 187942 |
| Evonik Industries AG | 18750 | 325120 |
| Hannover Rueck SE | 1159 | 349142 |
| Infineon Technologies AG | 10636 | 414552 |
| Mercedes-Benz Group AG | 10751 | 674872 |
| Merck KGaA | 6778 | 870923 |
| Muenchener Rueckversicherungs-Gesellschaft AG - ADR | 94450 | 1208016 |
| Muenchener Rueckversicherungs-Gesellschaft AG | 1968 | 1255472 |
| Siemens AG | 8885 | 2390751 |
| Telefonica Deutschland Holding AG <sup>(b)</sup> | 124863 | 305781 |
| Vonovia SE | 42825 | 1334825 |
|  |  | 24769045 |
| **HONG KONG - 2.4%** |  |  |
| AAC Technologies Holdings, Inc. | 92000 | 540755 |
| AIA Group Ltd. - ADR <sup>(a)</sup> | 29853 | 1147251 |
| AIA Group Ltd. | 57569 | 552249 |
| BYD Electronic International Co. Ltd. | 86500 | 459519 |
| China Merchants Port Holdings Co. Ltd. | 892000 | 1670094 |
| Fuyao Glass Industry Group Co. Ltd. | 50400 | 507118 |
| Geely Automobile Holdings Ltd. | 541000 | 1359129 |
| Guangdong Investment Ltd. | 350000 | 317983 |
| Hong Kong Exchanges & Clearing Ltd. | 14978 | 850732 |
| Kingsoft Corp. Ltd. | 61000 | 271377 |
| Lenovo Group Ltd. | 754000 | 1119103 |
| Link REIT | 142700 | 733501 |
| Nongfu Spring Co. Ltd. - H Shares | 63000 | 436361 |
| Pop Mart International Group Ltd. | 20600 | 706268 |
| Sino Land Co. Ltd. | 482000 | 610098 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis International Index Fund***

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.2% (Continued)** | **Shares** | **Fair Value** |
| **HONG KONG - 2.4% (Continued)** |  |  |
| Sun Hung Kai Properties Ltd. | 120500 | $1443177 |
|  |  | 12724715 |
| **INDIA - 4.4%** |  |  |
| HDFC Bank Ltd. - ADR | 183554 | 6270205 |
| ICICI Bank Ltd. - ADR | 245727 | 7428327 |
| Infosys Ltd. - ADR <sup>(a)</sup> | 336981 | 5482681 |
| Wipro Ltd. - ADR <sup>(a)</sup> | 1556091 | 4092519 |
|  |  | 23273732 |
| **INDONESIA - 0.4%** |  |  |
| Bank Mandiri Persero Tbk PT - ADR | 87101 | 912818 |
| Telkom Indonesia Persero Tbk PT - ADR <sup>(a)</sup> | 50040 | 941753 |
|  |  | 1854571 |
| **IRELAND - 0.5%** |  |  |
| AIB Group plc | 100681 | 911897 |
| CRH plc | 11121 | 1333408 |
| Smurfit WestRock plc | 10065 | 428467 |
|  |  | 2673772 |
| **ISRAEL - 0.6%** |  |  |
| Check Point Software Technologies Ltd. <sup>(b)</sup> | 2999 | 620523 |
| CyberArk Software Ltd. <sup>(b)</sup> | 2342 | 1131537 |
| ICL Group Ltd. <sup>(a)</sup> | 148461 | 923428 |
| Nice Ltd. - ADR <sup>(a)(b)</sup> | 2956 | 427970 |
|  |  | 3103458 |
| **ITALY - 2.9%** |  |  |
| Enel S.p.A. | 63194 | 598407 |
| Generali | 24438 | 958527 |
| Intesa Sanpaolo S.p.A. - ADR | 2566 | 101845 |
| Intesa Sanpaolo S.p.A. | 455983 | 3005269 |
| Mediobanca Banca di Credito Finanziario S.p.A. | 49451 | 1000573 |
| Moncler S.p.A. | 10592 | 620126 |
| Poste Italiane S.p.A. | 51414 | 1218653 |
| Prysmian S.p.A. - ADR | 2358 | 116933 |
| Snam S.p.A. | 250989 | 1508056 |
| Terna - Rete Elettrica Nazionale S.p.A. | 263787 | 2675032 |
| UniCredit S.p.A. | 49517 | 3747782 |
|  |  | 15551203 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis International Index Fund***

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.2% (Continued)** | **Shares** | **Fair Value** |
| **JAPAN - 14.8%** |  |  |
| Advantest Corp. | 19200 | $1902263 |
| Aeon Co. Ltd. | 59400 | 721079 |
| Asics Corp. | 16200 | 424211 |
| Astellas Pharma, Inc. | 28600 | 309566 |
| Bandai Namco Holdings, Inc. | 22000 | 732758 |
| Bridgestone Corp. | 57056 | 2642389 |
| Brother Industries Ltd. | 29100 | 487768 |
| Canon, Inc. | 21200 | 621809 |
| Chugai Pharmaceutical Co. Ltd. | 13500 | 588695 |
| Dai Nippon Printing Co. Ltd. | 122636 | 2086287 |
| Daifuku Co. Ltd. | 17400 | 558128 |
| Dai-ichi Life Holdings, Inc. | 65384 | 515587 |
| Daiichi Sankyo Co. Ltd. | 48830 | 1094717 |
| Daiwa House Industry Co. Ltd. | 58000 | 2086754 |
| Daiwa Securities Group, Inc. | 81800 | 665227 |
| Denso Corp. | 73600 | 1062941 |
| Disco Corp. | 2500 | 786354 |
| ENEOS Holdings, Inc. | 137900 | 876552 |
| FANUC Corp. | 19900 | 573586 |
| Fast Retailing Co. Ltd. | 4200 | 1279321 |
| FUJIFILM Holdings Corp. - ADR | 26304 | 324854 |
| FUJIFILM Holdings Corp. | 5600 | 139407 |
| Fujikura Ltd. | 7400 | 723405 |
| Fujitsu Ltd. | 48680 | 1146992 |
| Honda Motor Co. Ltd. | 51700 | 535300 |
| Hoya Corp. - ADR | 1273 | 175279 |
| Hoya Corp. | 6861 | 950042 |
| Ibiden Co. Ltd. | 11500 | 698714 |
| Inpex Corp. | 41000 | 741164 |
| Kao Corp. | 18400 | 802743 |
| KDDI Corp. - ADR | 43814 | 693576 |
| Keyence Corp. | 3900 | 1455385 |
| Kubota Corp. | 28800 | 362858 |
| Kyocera Corp. | 28900 | 388842 |
| Mitsubishi Corp. | 66600 | 1590390 |
| Mitsubishi Estate Co. Ltd. | 36400 | 837713 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis International Index Fund***

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.2% (Continued)** | **Shares** | **Fair Value** |
| **JAPAN - 14.8% (Continued)** |  |  |
| Mitsubishi UFJ Financial Group, Inc. - ADR <sup>(a)</sup> | 5599 | $89248 |
| Mitsubishi UFJ Financial Group, Inc. | 275109 | 4454107 |
| MS&AD Insurance Group Holdings, Inc. | 31500 | 714931 |
| Murata Manufacturing Co. Ltd. | 48700 | 927291 |
| NEC Corp. | 51500 | 1650538 |
| Nidec Corp. | 18200 | 324143 |
| Nintendo Co. Ltd. - ADR | 96172 | 2052311 |
| Nintendo Co. Ltd. | 3000 | 259796 |
| Nippon Prologis REIT, Inc. | 1003 | 586066 |
| Nippon Yusen KK | 12200 | 416744 |
| Nomura Holdings, Inc. | 51900 | 381003 |
| Nomura Real Estate Holdings, Inc. | 56000 | 357551 |
| Nomura Real Estate Master Fund, Inc. | 271 | 293972 |
| Nomura Research Institute Ltd. | 10900 | 418187 |
| Omron Corp. - ADR | 2060 | 56320 |
| Oracle Corp. Japan | 3200 | 326782 |
| ORIX Corp. | 16800 | 441059 |
| Otsuka Holdings Co. Ltd. | 4100 | 217913 |
| Pan Pacific International Holdings Corp. | 106500 | 702241 |
| PDD Holdings, Inc. - ADR <sup>(a)(b)</sup> | 9339 | 1234336 |
| Recruit Holdings Co. Ltd - ADR | 10704 | 114105 |
| Recruit Holdings Co. Ltd. | 35750 | 1925238 |
| Resona Holdings, Inc. | 85600 | 874432 |
| Ricoh Co. Ltd. | 40800 | 360497 |
| Seiko Epson Corp. | 37800 | 485199 |
| Sekisui House Ltd. | 17600 | 400763 |
| Seven & i Holdings Co. Ltd. | 52200 | 702867 |
| Shimadzu Corp. | 47900 | 1209923 |
| Shimano, Inc. - ADR | 8840 | 98301 |
| Shimano, Inc. | 2884 | 323769 |
| Shin-Etsu Chemical Co. Ltd. | 17000 | 557944 |
| SoftBank Group Corp. - ADR <sup>(a)</sup> | 4622 | 292573 |
| SoftBank Group Corp. | 12400 | 1566919 |
| Sompo Holdings, Inc. | 12900 | 399128 |
| Sony Financial Group, Inc. <sup>(b)</sup> | 10000 | 11091 |
| Sony Group Corp. - ADR <sup>(a)</sup> | 101690 | 2927655 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis International Index Fund***

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.2% (Continued)** | **Shares** | **Fair Value** |
| **JAPAN - 14.8% (Continued)** |  |  |
| Sony Group Corp. | 10000 | $288031 |
| Sumitomo Electric Industries Ltd. | 17200 | 490644 |
| Sumitomo Mitsui Financial Group, Inc. - ADR <sup>(a)</sup> | 88295 | 1478058 |
| Sumitomo Mitsui Financial Group, Inc. | 39600 | 1118375 |
| Sumitomo Mitsui Trust Group, Inc. | 39200 | 1139686 |
| Sysmex Corp. - ADR | 4276 | 52210 |
| Takeda Pharmaceutical Co. Ltd. | 32800 | 957164 |
| TDK Corp. | 79900 | 1160951 |
| Terumo Corp. | 21944 | 362553 |
| Tokio Marine Holdings, Inc. | 53500 | 2268212 |
| Tokyo Electron Ltd. - ADR | 3728 | 334029 |
| Tokyo Electron Ltd. | 7300 | 1301367 |
| TOPPAN Holdings, Inc. | 34400 | 882880 |
| Toray Industries, Inc. | 104200 | 666145 |
| Toyota Motor Corp. - ADR <sup>(a)</sup> | 15291 | 2921957 |
| USS Co. Ltd. | 90440 | 1038250 |
| Yamaha Corp. | 35700 | 237596 |
| Yamaha Motor Co. Ltd. | 191000 | 1433798 |
| Yokogawa Electric Corp. | 36800 | 1058959 |
|  |  | 78928464 |
| **JERSEY - 0.2%** |  |  |
| Experian plc - ADR | 13048 | 655140 |
| Experian plc | 11159 | 558588 |
|  |  | 1213728 |
| **MEXICO - 0.9%** |  |  |
| Fomento Economico Mexicano S.A.B. de C.V. - ADR | 13198 | 1301719 |
| Grupo Aeroportuario del Pacifico S.A.B. de C.V. - ADR | 2661 | 631163 |
| Grupo Aeroportuario del Sureste S.A.B. de C.V. - ADR | 3153 | 1019459 |
| Grupo Financiero Banorte S.A.B. de C.V. - ADR | 14433 | 724248 |
| Wal-Mart de Mexico S.A.B. de C.V. - ADR <sup>(a)</sup> | 27641 | 852448 |
|  |  | 4529037 |
| **NETHERLANDS - 2.1%** |  |  |
| Adyen N.V. <sup>(b)</sup> | 421 | 674648 |
| Akzo Nobel N.V. - ADR | 2 | 48 |
| Argenx SE - ADR <sup>(b)</sup> | 1526 | 1125517 |
| ASM International N.V. - ADR | 216 | 129816 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis International Index Fund***

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.2% (Continued)** | **Shares** | **Fair Value** |
| **NETHERLANDS - 2.1% (Continued)** |  |  |
| ASML Holding N.V. - ADR | 6542 | $6333245 |
| Havas N.V. | 46775 | 85966 |
| Prosus N.V. | 23786 | 1673788 |
| Randstad N.V. | 12061 | 512146 |
| Stellantis N.V. | 21320 | 197006 |
| Universal Music Group N.V. - ADR | 7262 | 104791 |
| Wolters Kluwer N.V. | 3748 | 511071 |
|  |  | 11348042 |
| **NEW ZEALAND - 0.1%** |  |  |
| Auckland International Airport Ltd. | 57418 | 262323 |
| Meridian Energy Ltd. | 110307 | 356221 |
|  |  | 618544 |
| **NORWAY - 1.2%** |  |  |
| Aker BP ASA | 66958 | 1698003 |
| DNB Bank ASA | 30272 | 823483 |
| Equinor ASA - ADR <sup>(a)</sup> | 71359 | 1739732 |
| Norsk Hydro ASA | 254823 | 1725954 |
| Yara International ASA | 14637 | 534703 |
|  |  | 6521875 |
| **PORTUGAL - 0.3%** |  |  |
| Galp Energia SGPS S.A. | 67137 | 1268966 |
| Jeronimo Martins SGPS S.A. | 12929 | 314194 |
|  |  | 1583160 |
| **RUSSIA - 0.0% <sup>(d)</sup>** |  |  |
| Mobile TeleSystems PJSC - ADR <sup>(b)(c)(e)</sup> | 86910 | 869 |
| **SINGAPORE - 1.0%** |  |  |
| BOC Aviation Ltd. | 135400 | 1211001 |
| CapitaLand Integrated Commercial Trust | 528612 | 938469 |
| CapitaLand Investment Ltd. | 281500 | 587054 |
| City Developments Ltd. | 152800 | 819741 |
| DBS Group Holdings Ltd. - ADR | 12531 | 1983156 |
|  |  | 5539421 |
| **SOUTH AFRICA - 1.5%** |  |  |
| Bid Corp. Ltd. | 24548 | 614435 |
| FirstRand Ltd. | 265164 | 1192442 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis International Index Fund***

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.2% (Continued)** | **Shares** | **Fair Value** |
| **SOUTH AFRICA - 1.5% (Continued)** |  |  |
| Mr Price Group Ltd. | 70832 | $835499 |
| MTN Group Ltd. | 49082 | 412112 |
| Naspers Ltd. - Class N - ADR | 30055 | 2183045 |
| Reinet Investments SCA | 16974 | 496365 |
| Standard Bank Group Ltd. | 126812 | 1735860 |
| Valterra Platinum Ltd. | 4127 | 294171 |
|  |  | 7763929 |
| **SOUTH KOREA - 3.8%** |  |  |
| Celltrion, Inc. | 3594 | 443957 |
| KB Financial Group, Inc. - ADR | 19354 | 1604640 |
| KB Financial Group, Inc. | 3184 | 261980 |
| KT Corp. - ADR | 39515 | 770543 |
| LG Chem Ltd. | 4745 | 939711 |
| LG Display Co. Ltd. - ADR <sup>(b)</sup> | 1 | 5 |
| NAVER Corp. | 10156 | 1942586 |
| POSCO Holdings, Inc. - ADR | 1694 | 83362 |
| POSCO Holdings, Inc. | 5114 | 1005502 |
| Samsung Electronics Co. Ltd. | 112104 | 6700333 |
| Shinhan Financial Group Co. Ltd. - ADR | 10792 | 543593 |
| Shinhan Financial Group Co. Ltd. | 15559 | 784745 |
| SK Hynix, Inc. | 13300 | 3292454 |
| SK Telecom Co. Ltd. - ADR | 2 | 43 |
| Woori Financial Group, Inc. - ADR | 34279 | 1924766 |
|  |  | 20298220 |
| **SPAIN - 2.7%** |  |  |
| Aena S.M.E. S.A. | 55250 | 1509354 |
| Amadeus IT Group S.A. | 10027 | 794579 |
| Banco Bilbao Vizcaya Argentaria S.A. - ADR | 24792 | 477246 |
| Banco Bilbao Vizcaya Argentaria S.A. | 17790 | 341264 |
| Banco Santander S.A. | 51429 | 535784 |
| CaixaBank S.A. | 173802 | 1825350 |
| Cellnex Telecom S.A. | 13610 | 471189 |
| Iberdrola S.A. | 112778 | 2132296 |
| Industria de Diseno Textil S.A. | 39262 | 2164987 |
| International Consolidated Airlines Group S.A. | 68747 | 356980 |
| Naturgy Energy Group S.A. | 12657 | 393172 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis International Index Fund***

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.2% (Continued)** | **Shares** | **Fair Value** |
| **SPAIN - 2.7% (Continued)** |  |  |
| Repsol S.A. | 170518 | $3015794 |
| Telefónica S.A. | 92766 | 478968 |
|  |  | 14496963 |
| **SWEDEN - 1.5%** |  |  |
| Atlas Copco AB - A Shares | 46116 | 778343 |
| Atlas Copco AB - Class A - ADR | 5893 | 100122 |
| Boliden AB <sup>(b)</sup> | 39793 | 1617560 |
| Epiroc AB - Class A | 21893 | 461363 |
| Industrivarden AB - A Shares | 23389 | 927147 |
| Investor AB - B Shares | 74604 | 2330122 |
| Securitas AB - B Shares | 19191 | 288640 |
| SKF AB - B Shares | 23849 | 590737 |
| Telefonaktiebolaget LM Ericsson - B Shares | 76365 | 631382 |
|  |  | 7725416 |
| **SWITZERLAND - 4.9%** |  |  |
| ABB Ltd. - ADR | 58667 | 4221091 |
| ABB Ltd. | 5783 | 416439 |
| Accelleron Industries AG | 1953 | 163818 |
| Alcon, Inc. <sup>(a)</sup> | 5312 | 395797 |
| Amrize Ltd. <sup>(b)</sup> | 8532 | 411492 |
| Geberit AG | 1300 | 975339 |
| Givaudan S.A. | 208 | 844553 |
| Holcim Ltd. | 8532 | 721799 |
| Julius Baer Group Ltd. | 9346 | 645305 |
| Logitech International S.A. <sup>(a)</sup> | 4776 | 523832 |
| Lonza Group AG | 1170 | 77969 |
| Lonza Group AG | 2065 | 1367691 |
| Nestlé S.A. - ADR | 34476 | 3163862 |
| Nestlé S.A. | 4473 | 410611 |
| Roche Holding AG - ADR <sup>(a)</sup> | 64072 | 2678850 |
| Roche Holding AG | 1846 | 602740 |
| Schindler Holding AG | 1446 | 520457 |
| Sika AG | 852 | 189562 |
| Sonova Holding AG | 821 | 223406 |
| Swiss Life Holding AG | 1691 | 1817635 |
| Swiss Re AG | 9611 | 1775522 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis International Index Fund***

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.2% (Continued)** | **Shares** | **Fair Value** |
| **SWITZERLAND - 4.9% (Continued)** |  |  |
| UBS Group AG | 39428 | $1610327 |
| UBS Group AG <sup>(a)</sup> | 6351 | 260391 |
| Zurich Insurance Group AG - ADR | 53580 | 1916557 |
| Zurich Insurance Group AG | 492 | 350214 |
|  |  | 26285259 |
| **TAIWAN - 7.6%** |  |  |
| ASE Technology Holding Co. Ltd. - ADR <sup>(a)</sup> | 193226 | 2142876 |
| AUO Corp. - ADR | 115722 | 556623 |
| Chunghwa Telecom Co. Ltd. - ADR | 133353 | 5816858 |
| Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | 108740 | 30369995 |
| United Microelectronics Corp. - ADR <sup>(a)</sup> | 243306 | 1844259 |
|  |  | 40730611 |
| **TURKEY - 0.2%** |  |  |
| Turkcell Iletisim Hizmetleri A.S. - ADR <sup>(a)</sup> | 205148 | 1234991 |
| **UNITED KINGDOM - 8.3%** |  |  |
| 3i Group plc | 68813 | 3784229 |
| Anglo American plc | 16527 | 619026 |
| Antofagasta plc | 39339 | 1455472 |
| Ashtead Group plc | 15878 | 1060242 |
| AstraZeneca plc - ADR | 46514 | 3568554 |
| Aviva plc | 75450 | 695900 |
| Barratt Redrow plc | 104084 | 545792 |
| Burberry Group plc <sup>(b)</sup> | 26668 | 418912 |
| Coca-Cola Europacific Partners plc | 21706 | 1962439 |
| Compass Group plc | 35682 | 1213634 |
| GSK plc - ADR <sup>(a)</sup> | 48475 | 2092181 |
| GSK plc | 17282 | 365954 |
| Haleon plc - ADR | 183527 | 1646237 |
| Halma plc - ADR | 618 | 57968 |
| Halma plc | 11061 | 513220 |
| HSBC Holdings plc - ADR | 52192 | 3704588 |
| HSBC Holdings plc | 27340 | 384242 |
| Informa plc | 116498 | 1437678 |
| J Sainsbury plc | 86209 | 387248 |
| Kingfisher plc | 105733 | 438972 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis International Index Fund***

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.2% (Continued)** | **Shares** | **Fair Value** |
| **UNITED KINGDOM - 8.3% (Continued)** |  |  |
| Legal & General Group plc | 110502 | $353701 |
| Lloyds Banking Group plc | 437921 | 493666 |
| London Stock Exchange Group plc | 7929 | 908121 |
| Mondi plc | 1 | 14 |
| National Grid plc - ADR | 19343 | 1405656 |
| NatWest Group plc | 148065 | 1038675 |
| PEARSON plc - ADR <sup>(a)</sup> | 114298 | 1618460 |
| PEARSON plc | 24794 | 352295 |
| Reckitt Benckiser Group plc - ADR | 20450 | 317179 |
| Reckitt Benckiser Group plc | 3212 | 247007 |
| RELX plc - ADR | 23055 | 1101107 |
| RELX plc | 71603 | 3425350 |
| Rentokil Initial plc | 26851 | 135709 |
| Sage Group plc (The) - ADR | 2320 | 137372 |
| Sage Group plc (The) | 14027 | 207514 |
| Segro plc | 83211 | 733461 |
| Spirax Group plc | 3439 | 315201 |
| Tesco plc - ADR | 293 | 5341 |
| Tesco plc | 162457 | 973366 |
| Unilever plc - ADR | 33663 | 1995543 |
| United Utilities Group plc | 92455 | 1425589 |
| Vodafone Group plc | 399124 | 462491 |
|  |  | 44005306 |
| **TOTAL COMMON STOCKS** (COST $293,774,233) |  | $523922620 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CORPORATE NOTES - 0.8%** | **Coupon** | **Maturity** | **Par Value** | **Fair Value** |
| **COMMUNITY DEVELOPMENT - 0.8%** |  |  |  |  |
| Calvert Impact Capital, Inc. <sup>(e)</sup> | 2.500% | 12/15/25 | $400000 | $397352 |
| Calvert Impact Capital, Inc. <sup>(e)</sup> | 4.000% | 06/15/28 | 620000 | 597672 |
| Calvert Impact Capital, Inc. <sup>(e)</sup> | 5.000% | 12/15/28 | 200000 | 197174 |
| Calvert Impact Capital, Inc. <sup>(e)</sup> | 5.000% | 06/15/29 | 880000 | 858618 |
| Calvert Impact Capital, Inc. <sup>(e)</sup> | 4.500% | 12/14/29 | 180000 | 173106 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis International Index Fund***

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CORPORATE NOTES - 0.8% (Continued)** | **Coupon** | **Maturity** | **Par Value** | **Fair Value** |
| **COMMUNITY DEVELOPMENT - 0.8% (Continued)** |  |  |  |  |
| Calvert Impact Capital, Inc. <sup>(e)</sup> | 4.500% | 06/14/30 | $830000 | $786382 |
| Capital Impact Partners Investment <sup>(e)</sup> | 4.500% | 12/15/25 | 170000 | 170148 |
| Capital Impact Partners Investment <sup>(e)</sup> | 4.500% | 06/15/26 | 830000 | 832461 |
| Capital Impact Partners Investment <sup>(e)</sup> | 5.000% | 12/15/26 | 300000 | 302055 |
| **TOTAL CORPORATE NOTES** (COST $4,410,000) |  |  |  | $4314968 |

---

---

| | | |
|:---|:---|:---|
| **RIGHTS** - **0.0% <sup>(d)</sup>** | **Shares** | **Fair Value** |
| **BELGIUM - 0.0% <sup>(d)</sup>** |  |  |
| Sofina S.A. | 85 | $190 |
| **DENMARK - 0.0% <sup>(d)</sup>** |  |  |
| Orsted A/S | 94230 | 93811 |
| **TOTAL RIGHTS** (COST $133,711) |  | $94001 |

---

---

| | | |
|:---|:---|:---|
| **MONEY MARKET FUNDS - 0.6%** | **Shares** | **Fair Value** |
| First American Government Obligations Fund - Class X, 4.05% <sup>(f)</sup> (COST $3,161,209) | 3161209 | $3161209 |

---

---

| | | |
|:---|:---|:---|
| **INVESTMENT PURCHASED WITH THE CASH PROCEEDS FROM SECURITIES LENDING - 10.2%** | **Shares** | **Fair Value** |
| Mount Vernon Liquid Assets Portfolio, LLC, 4.22% <sup>(f)(g)</sup> (COST $54,400,420) | 54400420 | $54400420 |
| **TOTAL INVESTMENTS -** (COST $355,879,573) **- 109.8%** |  | $585893218 |
| **LIABILITES IN EXCESS OF OTHER ASSETS - (9.8%)** |  | (52424886) |
| **NET ASSETS - 100.0%** |  | $533468332 |

---

**Schedule of Portfolio Investments (Continued)** 

***Praxis International Index Fund***

<sup>(a)</sup> All or a portion of the security is on loan. The total fair value of the securities on loan as of September 30, 2025 was $53,062,748.

<sup>(b)</sup> Non-income producing security.

<sup>(c)</sup> 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 $246,992 as of September 30, 2025, representing 0.0% <sup>(d)</sup> of net assets.

<sup>(d)</sup> Percentage rounds to less than 0.1%.

<sup>(e)</sup> Illiquid securities are as follows: 

 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br> Date | Current<br> Cost | Fair<br> Value | % of Net<br> Assets |
| Calvert Impact Capital, Inc., 2.500%, 12/15/25 | &nbsp;&nbsp;12/15/20 | $400000 | $397352 | 0.1% |
| Calvert Impact Capital, Inc., 4.000%, 06/15/28 | &nbsp;&nbsp;06/15/23 | 620000 | 597672 | 0.1% |
| Calvert Impact Capital, Inc., 5.000%, 12/15/28 | &nbsp;&nbsp;12/15/23 | 200000 | 197174 | 0.0 %<sup>(d)</sup> |
| Calvert Impact Capital, Inc., 5.000%, 06/15/29 | &nbsp;&nbsp;06/14/24 | 880000 | 858618 | 0.2% |
| Calvert Impact Capital, Inc., 4.500%, 12/14/29 | &nbsp;&nbsp;12/13/24 | 180000 | 173106 | 0.0 %<sup>(d)</sup> |
| Calvert Impact Capital, Inc., 4.500%, 06/14/30 | &nbsp;&nbsp;06/13/25 | 830000 | 786382 | 0.1% |
| Capital Impact Partners Investment, 4.500%, 12/15/25 | &nbsp;&nbsp;12/16/24 | 170000 | 170148 | 0.0 %<sup>(d)</sup> |
| Capital Impact Partners Investment, 4.500%, 06/15/26 | &nbsp;&nbsp;06/17/25 | 830000 | 832461 | 0.2% |
| Capital Impact Partners Investment, 5.000%, 12/15/26 | &nbsp;&nbsp;12/15/23 | 300000 | 302055 | 0.1% |
| Mobile TeleSystems PJSC - ADR | &nbsp;&nbsp;08/02/17 | 752376 | 869 | 0.0 %<sup>(d)</sup> |
|  |  | $5162376 | $4315837 | 0.8% |

---

<sup>(f)</sup> The rate shown is the 7-day effective yield as of September 30, 2025.

<sup>(g)</sup> 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** | **Schedule of Portfolio Investments** | **Schedule of Portfolio Investments** |
| ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** |
| ***September 30, 2025 (Unaudited)*** | ***September 30, 2025 (Unaudited)*** | ***September 30, 2025 (Unaudited)*** |
| **COMMON STOCKS - 98.6%** | **Shares** | **Fair Value** |
| AEROSPACE & DEFENSE - 0.5% |  |  |
| HEICO Corp. | 6710 | $2166122 |
| Howmet Aerospace, Inc. | 1620 | 317893 |
|  |  | 2484015 |
| APPAREL & TEXTILE PRODUCTS - 0.3% |  |  |
| NIKE, Inc. - Class B | 23990 | 1672823 |
| ASSET MANAGEMENT - 2.0% |  |  |
| Ameriprise Financial, Inc. | 1540 | 756525 |
| BlackRock, Inc. | 3332 | 3884679 |
| Charles Schwab Corp. (The) | 35800 | 3417826 |
| KKR & Co., Inc. | 9912 | 1288064 |
| Raymond James Financial, Inc. | 2080 | 359008 |
| T. Rowe Price Group, Inc. | 4850 | 497804 |
|  |  | 10203906 |
| AUTOMOTIVE - 0.4% |  |  |
| Ford Motor Co. | 146843 | 1756242 |
| Tesla, Inc. <sup>(a)</sup> | 767 | 341100 |
|  |  | 2097342 |
| BANKING - 9.2% |  |  |
| Bank of America Corp. | 173310 | 8941063 |
| Citigroup, Inc. | 50406 | 5116209 |
| Citizens Financial Group, Inc. | 12820 | 681511 |
| Fifth Third Bancorp <sup>(b)</sup> | 18470 | 822838 |
| Huntington Bancshares, Inc. | 48680 | 840704 |
| JPMorgan Chase & Co. | 71665 | 22605291 |
| KeyCorp | 36140 | 675457 |
| M&T Bank Corp. | 8184 | 1617322 |
| PNC Financial Services Group, Inc. (The) | 11121 | 2234543 |
| Regions Financial Corp. | 36930 | 973844 |
| Truist Financial Corp. | 47920 | 2190902 |
| U.S. Bancorp | 34100 | 1648053 |
|  |  | 48347737 |
| BEVERAGES - 2.5% |  |  |
| Coca-Cola Co. (The) | 105220 | 6978190 |
| Keurig Dr Pepper, Inc. | 9401 | 239820 |
| PepsiCo, Inc. | 39870 | 5599343 |
|  |  | 12817353 |

---

---

| | | |
|:---|:---|:---|
| **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** |
| ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** |
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| BIOTECH & PHARMA - 7.2% |  |  |
| AbbVie, Inc. | 45710 | $10583693 |
| Amgen, Inc. | 12830 | 3620626 |
| Biogen, Inc. <sup>(a)</sup> | 3450 | 483276 |
| Bristol-Myers Squibb Co. | 41770 | 1883827 |
| Eli Lilly & Co. | 500 | 381500 |
| Gilead Sciences, Inc. | 34790 | 3861690 |
| Johnson & Johnson | 54813 | 10163427 |
| Merck & Co., Inc. | 69880 | 5865028 |
| Regeneron Pharmaceuticals, Inc. | 1355 | 761876 |
|  |  | 37604943 |
| CABLE & SATELLITE - 1.0% |  |  |
| Charter Communications, Inc. - Class A <sup>(a)(b)</sup> | 1440 | 396151 |
| Comcast Corp. - Class A | 151104 | 4747688 |
|  |  | 5143839 |
| CHEMICALS - 2.2% |  |  |
| Air Products & Chemicals, Inc. | 5983 | 1631684 |
| Dow, Inc. | 10606 | 243195 |
| DuPont de Nemours, Inc. | 7128 | 555271 |
| Ecolab, Inc. | 2840 | 777762 |
| International Flavors & Fragrances, Inc. | 12327 | 758604 |
| Linde plc | 10529 | 5001275 |
| LyondellBasell Industries N.V. - Class A | 47170 | 2313217 |
|  |  | 11281008 |
| COMMERCIAL SUPPORT SERVICES - 1.2% |  |  |
| Republic Services, Inc. | 11450 | 2627546 |
| Waste Connections, Inc. | 5768 | 1014014 |
| Waste Management, Inc. | 12178 | 2689268 |
|  |  | 6330828 |
| CONSTRUCTION MATERIALS - 0.5% |  |  |
| CRH plc | 15980 | 1916002 |
| Martin Marietta Materials, Inc. | 760 | 479013 |
|  |  | 2395015 |
| CONTAINERS & PACKAGING - 0.1% |  |  |
| International Paper Co. | 6300 | 292320 |
| Packaging Corp. of America | 1235 | 269143 |
|  |  | 561463 |
| DIVERSIFIED INDUSTRIALS - 1.6% |  |  |
| Dover Corp. | 6723 | 1121598 |

---

---

| | | |
|:---|:---|:---|
| **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** |
| ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** |
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| DIVERSIFIED INDUSTRIALS - 1.6% (Continued) |  |  |
| Emerson Electric Co. | 19394 | $2544105 |
| Illinois Tool Works, Inc. | 17715 | 4619363 |
|  |  | 8285066 |
| E-COMMERCE DISCRETIONARY - 0.2% |  |  |
| eBay, Inc. | 12910 | 1174164 |
| ELECTRIC UTILITIES - 4.5% |  |  |
| American Electric Power Co., Inc. | 11980 | 1347750 |
| CenterPoint Energy, Inc. | 10020 | 388776 |
| Consolidated Edison, Inc. | 10621 | 1067623 |
| Dominion Energy, Inc. | 17170 | 1050289 |
| DTE Energy Co. | 4300 | 608149 |
| Duke Energy Corp. | 27881 | 3450274 |
| Edison International | 14514 | 802334 |
| Entergy Corp. | 8670 | 807957 |
| Eversource Energy | 6247 | 444412 |
| Exelon Corp. | 27760 | 1249478 |
| FirstEnergy Corp. | 8440 | 386721 |
| NextEra Energy, Inc. | 45072 | 3402485 |
| PPL Corp. | 22540 | 837586 |
| Sempra | 22746 | 2046685 |
| Southern Co. (The) | 34801 | 3298091 |
| Vistra Corp. | 7060 | 1383195 |
| WEC Energy Group, Inc. <sup>(b)</sup> | 4050 | 464089 |
| Xcel Energy, Inc. | 9014 | 726979 |
|  |  | 23762873 |
| ELECTRICAL EQUIPMENT - 3.5% |  |  |
| AMETEK, Inc. | 5355 | 1006740 |
| Carrier Global Corp. | 16841 | 1005408 |
| Hubbell, Inc. | 581 | 250010 |
| Johnson Controls International plc | 31287 | 3440006 |
| Keysight Technologies, Inc. <sup>(a)</sup> | 2750 | 481030 |
| Otis Worldwide Corp. | 16780 | 1534195 |
| Rockwell Automation, Inc. | 9390 | 3282087 |
| TE Connectivity plc | 12870 | 2825351 |
| Trane Technologies plc | 10350 | 4367286 |
|  |  | 18192113 |

---

---

| | | |
|:---|:---|:---|
| **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** |
| ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** |
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| ENTERTAINMENT CONTENT - 1.4% |  |  |
| Electronic Arts, Inc. | 4550 | $917735 |
| Fox Corp. - Class B | 8540 | 489256 |
| Walt Disney Co. (The) | 43142 | 4939759 |
| Warner Bros. Discovery, Inc. <sup>(a)</sup> | 54292 | 1060323 |
|  |  | 7407073 |
| FOOD - 1.4% |  |  |
| General Mills, Inc. | 23037 | 1161526 |
| Hormel Foods Corp. | 14367 | 355440 |
| Kellanova | 12810 | 1050676 |
| Kraft Heinz Co. (The) | 41467 | 1079801 |
| Mondelez International, Inc. - Class A <sup>(b)</sup> | 56962 | 3558416 |
| Tyson Foods, Inc. - Class A | 4735 | 257110 |
|  |  | 7462969 |
| GAS & WATER UTILITIES - 0.4% |  |  |
| American Water Works Co., Inc. | 15972 | 2223143 |
| HEALTH CARE FACILITIES & SERVICES - 3.2% |  |  |
| Cardinal Health, Inc. | 12030 | 1888229 |
| Cencora, Inc. | 5450 | 1703289 |
| Centene Corp. <sup>(a)</sup> | 25971 | 926645 |
| CVS Health Corp. | 31342 | 2362873 |
| Elevance Health, Inc. | 6422 | 2075077 |
| Humana, Inc. | 4665 | 1213693 |
| IQVIA Holdings, Inc. <sup>(a)</sup> | 2245 | 426415 |
| Labcorp Holdings, Inc. | 4820 | 1383629 |
| McKesson Corp. | 3834 | 2961918 |
| Quest Diagnostics, Inc. | 8530 | 1625648 |
|  |  | 16567416 |
| HOME CONSTRUCTION - 0.6% |  |  |
| D.R. Horton, Inc. | 6900 | 1169343 |
| Lennar Corp. - Class A | 2480 | 312579 |
| Lennar Corp. - Class B <sup>(b)</sup> | 5279 | 633427 |
| NVR, Inc. <sup>(a)</sup> | 50 | 401733 |
| PulteGroup, Inc. | 4530 | 598549 |
|  |  | 3115631 |
| HOUSEHOLD PRODUCTS - 2.9% |  |  |
| Church & Dwight Co., Inc. | 4090 | 358407 |
| Clorox Co. (The) | 2970 | 366201 |

---

---

| | | |
|:---|:---|:---|
| **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** |
| ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** |
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| HOUSEHOLD PRODUCTS - 2.9% (Continued) |  |  |
| Colgate-Palmolive Co. | 32346 | $2585739 |
| Estée Lauder Cos., Inc. (The) - Class A | 10860 | 956983 |
| Kenvue, Inc. | 20430 | 331579 |
| Kimberly-Clark Corp. | 3430 | 426486 |
| Procter & Gamble Co. (The) | 65715 | 10097110 |
|  |  | 15122505 |
| INDUSTRIAL SUPPORT SERVICES - 0.7% |  |  |
| Fastenal Co. | 13360 | 655174 |
| Ferguson Enterprises, Inc. | 3720 | 835438 |
| United Rentals, Inc. | 1120 | 1069219 |
| W.W. Grainger, Inc. | 870 | 829075 |
|  |  | 3388906 |
| INSTITUTIONAL FINANCIAL SERVICES - 4.5% |  |  |
| Bank of New York Mellon Corp. (The) | 32984 | 3593937 |
| CME Group, Inc. | 8040 | 2172328 |
| Goldman Sachs Group, Inc. (The) | 8730 | 6952136 |
| Intercontinental Exchange, Inc. | 16126 | 2716908 |
| Morgan Stanley | 32291 | 5132977 |
| Nasdaq, Inc. | 7520 | 665144 |
| Northern Trust Corp. | 10217 | 1375208 |
| State Street Corp. | 8990 | 1042930 |
|  |  | 23651568 |
| INSURANCE - 7.0% |  |  |
| Aflac, Inc. | 21650 | 2418305 |
| Allstate Corp. (The) | 12509 | 2685057 |
| American International Group, Inc. | 19777 | 1553285 |
| Aon plc - Class A | 3295 | 1174931 |
| Arch Capital Group Ltd. | 8337 | 756416 |
| Arthur J. Gallagher & Co. | 7260 | 2248712 |
| Berkley (W.R.) Corp. | 14737 | 1129149 |
| Brown & Brown, Inc. | 9530 | 893819 |
| Chubb Ltd. | 12990 | 3666427 |
| Cincinnati Financial Corp. | 7072 | 1118083 |
| Corebridge Financial, Inc. | 16250 | 520812 |
| Hartford Insurance Group, Inc. (The) | 10830 | 1444614 |
| Loews Corp. | 5440 | 546122 |
| Markel Group, Inc. <sup>(a)</sup> | 710 | 1357066 |
| Marsh & McLennan Cos., Inc. | 16320 | 3288970 |

---

---

| | | |
|:---|:---|:---|
| **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** |
| ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** |
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| INSURANCE - 7.0% (Continued) |  |  |
| MetLife, Inc. | 23723 | $1954063 |
| Principal Financial Group, Inc. | 9570 | 793449 |
| Progressive Corp. (The) | 18340 | 4529063 |
| Prudential Financial, Inc. | 13740 | 1425388 |
| Travelers Cos., Inc. (The) | 9403 | 2625506 |
| Willis Towers Watson plc <sup>(b)</sup> | 1780 | 614901 |
|  |  | 36744138 |
| INTERNET MEDIA & SERVICES - 0.4% |  |  |
| Alphabet, Inc. - Class C | 3320 | 808586 |
| Booking Holdings, Inc. | 60 | 323956 |
| Meta Platforms, Inc. - Class A | 660 | 484691 |
| Netflix, Inc. <sup>(a)</sup> | 222 | 266160 |
|  |  | 1883393 |
| LEISURE FACILITIES & SERVICES - 0.6% |  |  |
| Carnival Corp. <sup>(a)</sup> | 18750 | 542063 |
| Darden Restaurants, Inc. | 1730 | 329323 |
| McDonald's Corp. | 3870 | 1176054 |
| Royal Caribbean Cruises Ltd. | 2400 | 776592 |
| Starbucks Corp. | 4354 | 368348 |
|  |  | 3192380 |
| MACHINERY - 1.6% |  |  |
| Deere & Co. | 8287 | 3789314 |
| Ingersoll-Rand, Inc. | 20600 | 1701972 |
| Veralto Corp. | 5569 | 593711 |
| Xylem, Inc. | 14930 | 2202175 |
|  |  | 8287172 |
| MEDICAL EQUIPMENT & DEVICES - 5.0% |  |  |
| Abbott Laboratories | 42510 | 5693789 |
| Agilent Technologies, Inc. <sup>(b)</sup> | 2004 | 257213 |
| Becton, Dickinson and Co. | 5871 | 1098875 |
| Boston Scientific Corp. <sup>(a)</sup> | 21060 | 2056088 |
| Danaher Corp. | 20198 | 4004455 |
| Edwards Lifesciences Corp. <sup>(a)</sup> | 16960 | 1318979 |
| GE HealthCare Technologies, Inc. | 18516 | 1390552 |
| Intuitive Surgical, Inc. <sup>(a)</sup> | 1510 | 675317 |
| Medtronic plc | 33790 | 3218160 |
| STERIS plc <sup>(b)</sup> | 1734 | 429061 |
| Stryker Corp. | 3450 | 1275362 |

---

---

| | | |
|:---|:---|:---|
| **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** |
| ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** |
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| MEDICAL EQUIPMENT & DEVICES - 5.0% (Continued) |  |  |
| Thermo Fisher Scientific, Inc. | 10134 | $4915193 |
|  |  | 26333044 |
| METALS & MINING - 0.6% |  |  |
| Newmont Corp. | 38112 | 3213223 |
| OIL & GAS PRODUCERS - 5.6% |  |  |
| ConocoPhillips | 75574 | 7148545 |
| Devon Energy Corp. | 35390 | 1240773 |
| Diamondback Energy, Inc. | 4880 | 698328 |
| EOG Resources, Inc. | 41828 | 4689755 |
| EQT Corp. | 260 | 14152 |
| Kinder Morgan, Inc. | 133927 | 3791473 |
| ONEOK, Inc. | 22320 | 1628690 |
| Phillips 66 | 31328 | 4261235 |
| Valero Energy Corp. | 19400 | 3303044 |
| Williams Cos., Inc. (The) | 43780 | 2773463 |
|  |  | 29549458 |
| OIL & GAS SERVICES & EQUIPMENT - 0.7% |  |  |
| Baker Hughes Co. | 45750 | 2228940 |
| Schlumberger Ltd. | 37132 | 1276227 |
|  |  | 3505167 |
| REAL ESTATE SERVICES - 0.2% |  |  |
| CBRE Group, Inc. - Class A <sup>(a)</sup> | 7370 | 1161217 |
| REITS - 1.9% |  |  |
| AvalonBay Communities, Inc. | 2190 | 423042 |
| Crown Castle, Inc. | 5084 | 490555 |
| Digital Realty Trust, Inc. | 6060 | 1047653 |
| Equity Residential | 6790 | 439517 |
| Extra Space Storage, Inc. | 1792 | 252564 |
| Iron Mountain, Inc. | 12047 | 1228071 |
| Prologis, Inc. | 19841 | 2272191 |
| Public Storage | 1300 | 375505 |
| Realty Income Corp. | 10720 | 651669 |
| Simon Property Group, Inc. | 7319 | 1373557 |
| Ventas, Inc. | 9610 | 672604 |
| Welltower, Inc. | 2990 | 532639 |

---

---

| | | |
|:---|:---|:---|
| **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** |
| ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** |
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| REITS - 1.9% (Continued) |  |  |
| Weyerhaeuser Co. | 10420 | $258312 |
|  |  | 10017879 |
| RENEWABLE ENERGY - 0.1% |  |  |
| First Solar, Inc. <sup>(a)</sup> | 2345 | 517143 |
| RETAIL - CONSUMER STAPLES - 3.0% |  |  |
| Costco Wholesale Corp. | 1230 | 1138525 |
| Dollar General Corp. | 3010 | 311083 |
| Dollar Tree, Inc. <sup>(a)</sup> | 4360 | 411453 |
| Kroger Co. (The) | 20514 | 1382849 |
| Target Corp. | 8470 | 759759 |
| Walmart, Inc. | 114080 | 11757085 |
|  |  | 15760754 |
| RETAIL - DISCRETIONARY - 2.6% |  |  |
| AutoZone, Inc. <sup>(a)</sup> | 80 | 343219 |
| Best Buy Co., Inc. | 7730 | 584543 |
| Home Depot, Inc. (The) | 21972 | 8902835 |
| Lowe's Cos., Inc. | 14140 | 3553523 |
| Ulta Beauty, Inc. <sup>(a)</sup> | 478 | 261346 |
|  |  | 13645466 |
| SEMICONDUCTORS - 3.2% |  |  |
| Advanced Micro Devices, Inc. <sup>(a)</sup> | 1679 | 271646 |
| Applied Materials, Inc. | 8043 | 1646724 |
| Broadcom, Inc. | 3344 | 1103219 |
| Intel Corp. <sup>(a)</sup> | 82998 | 2784583 |
| Microchip Technology, Inc. | 13819 | 887456 |
| Micron Technology, Inc. | 25754 | 4309159 |
| NVIDIA Corp. | 1643 | 306551 |
| ON Semiconductor Corp. <sup>(a)</sup> | 6327 | 311984 |
| QUALCOMM, Inc. | 24460 | 4069166 |
| Texas Instruments, Inc. | 6810 | 1251201 |
|  |  | 16941689 |
| SOFTWARE - 2.9% |  |  |
| Gen Digital, Inc. | 8909 | 252927 |
| Microsoft Corp. | 7740 | 4008933 |
| Oracle Corp. | 26310 | 7399424 |
| Roper Technologies, Inc. | 4976 | 2481482 |
| Synopsys, Inc. <sup>(a)</sup> | 1041 | 513619 |

---

---

| | | |
|:---|:---|:---|
| **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** |
| ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** |
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| SOFTWARE - 2.9% (Continued) |  |  |
| Veeva Systems, Inc. - Class A <sup>(a)</sup> | 1430 | $426011 |
| Zoom Communications, Inc. <sup>(a)</sup> | 3680 | 303600 |
|  |  | 15385996 |
| SPECIALTY FINANCE - 1.6% |  |  |
| American Express Co. | 9744 | 3236567 |
| Capital One Financial Corp. | 15730 | 3343883 |
| Fidelity National Financial, Inc. | 14480 | 875895 |
| Synchrony Financial | 9950 | 706948 |
|  |  | 8163293 |
| STEEL - 0.2% |  |  |
| Nucor Corp. <sup>(b)</sup> | 6410 | 868107 |
| Steel Dynamics, Inc. <sup>(b)</sup> | 3010 | 419684 |
|  |  | 1287791 |
| TECHNOLOGY HARDWARE - 2.8% |  |  |
| Apple, Inc. | 3280 | 835186 |
| Arista Networks, Inc. <sup>(a)</sup> | 2770 | 403617 |
| Cisco Systems, Inc. | 98040 | 6707897 |
| Corning, Inc. | 32890 | 2697967 |
| Dell Technologies, Inc. - Class C | 8240 | 1168185 |
| Hewlett Packard Enterprise Co. | 30160 | 740729 |
| HP, Inc. | 31280 | 851754 |
| Seagate Technology Holdings plc | 2560 | 604314 |
| Western Digital Corp. | 5230 | 627914 |
|  |  | 14637563 |
| TECHNOLOGY SERVICES - 1.9% |  |  |
| Accenture plc - Class A | 17477 | 4309828 |
| Cognizant Technology Solutions Corp. - Class A | 4450 | 298462 |
| Fidelity National Information Services, Inc. | 4270 | 281564 |
| Fiserv, Inc. <sup>(a)</sup> | 8480 | 1093326 |
| Global Payments, Inc. | 4430 | 368044 |
| Paychex, Inc. | 3334 | 422618 |
| PayPal Holdings, Inc. <sup>(a)</sup> | 17240 | 1156114 |
| S&P Global, Inc. | 1790 | 871211 |
| TransUnion | 4310 | 361092 |
| Verisk Analytics, Inc. | 52 | 13079 |
| Visa, Inc. - Class A | 1440 | 491587 |
|  |  | 9666925 |

---

---

| | | |
|:---|:---|:---|
| **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** |
| ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** |
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| TELECOMMUNICATIONS - 1.9% |  |  |
| AT&T, Inc. | 174986 | $4941605 |
| T-Mobile US, Inc. | 4527 | 1083673 |
| Verizon Communications, Inc. | 92685 | 4073506 |
|  |  | 10098784 |
| TRANSPORTATION & LOGISTICS - 2.2% |  |  |
| CSX Corp. | 29639 | 1052481 |
| Delta Air Lines, Inc. | 26930 | 1528277 |
| FedEx Corp. | 6170 | 1454948 |
| Norfolk Southern Corp. | 5330 | 1601185 |
| Southwest Airlines Co. | 36394 | 1161333 |
| Union Pacific Corp. | 11880 | 2808076 |
| United Airlines Holdings, Inc. <sup>(a)</sup> | 11600 | 1119400 |
| United Parcel Service, Inc. - Class B | 8310 | 694134 |
|  |  | 11419834 |
| TRANSPORTATION EQUIPMENT - 0.4% |  |  |
| PACCAR, Inc. | 14850 | 1460052 |
| Westinghouse Air Brake Technologies Corp. | 3020 | 605419 |
|  |  | 2065471 |
| WHOLESALE - CONSUMER STAPLES - 0.2% |  |  |
| Archer-Daniels-Midland Co. | 10159 | 606899 |
| Sysco Corp. | 7490 | 616726 |
|  |  | 1223625 |
| **TOTAL COMMON STOCKS** (COST $346,633,747) |  | $515995104 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** |
| ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** |
| **CORPORATE NOTES - 0.8%** | **Coupon** | **Maturity** | **Principal Amount** | **Fair Value** |
| COMMUNITY DEVELOPMENT - 0.8% |  |  |  |  |
| Calvert Impact Capital, Inc. <sup>(c)</sup> | 2.500% | 12/15/25 | $450000 | $447021 |
| Calvert Impact Capital, Inc. <sup>(c)</sup> | 4.000% | 06/15/28 | 350000 | 337395 |
| Calvert Impact Capital, Inc. <sup>(c)</sup> | 5.000% | 12/15/28 | 800000 | 788697 |
| Calvert Impact Capital, Inc. <sup>(c)</sup> | 5.000% | 06/15/29 | 830000 | 809833 |
| Calvert Impact Capital, Inc. <sup>(c)</sup> | 4.500% | 12/14/29 | 150000 | 144255 |
| Calvert Impact Capital, Inc. <sup>(c)</sup> | 4.500% | 06/14/30 | 290000 | 274760 |
| Capital Impact Partners Investment <sup>(c)</sup> | 4.500% | 12/15/25 | 150000 | 150131 |
| Capital Impact Partners Investment <sup>(c)</sup> | 4.500% | 06/15/26 | 290000 | 290860 |
| Capital Impact Partners Investment <sup>(c)</sup> | 5.000% | 12/15/26 | 1000000 | 1006850 |
| **TOTAL CORPORATE NOTES** (COST $4,310,000) |  |  |  | $4249802 |

---

---

| | | |
|:---|:---|:---|
| **MONEY MARKET FUNDS - 0.5%** | **Shares** | **Fair Value** |
| First American Government Obligations Fund - Class X, 4.05% <sup>(d)</sup> (COST $2,709,958) | 2709958 | $2709958 |

---

---

| | | |
|:---|:---|:---|
| **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** |
| ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** | ***Praxis Value Index Fund*** |
| **INVESTMENT PURCHASED WITH THE CASH PROCEEDS FROM SECURITIES LENDING - 1.3%** | **Shares** | **Fair Value** |
| Mount Vernon Liquid Assets Portfolio, LLC, 4.22% <sup>(d)(e)</sup> (COST $6,991,999) | 6991999 | $6991999 |
| **TOTAL INVESTMENTS -** (COST $360,645,704) **- 101.2%** |  | $529946863 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS - (1.2%)** |  | (6588839) |
| **NET ASSETS - 100.0%** |  | $523358024 |

---

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> All or a portion of the security is on loan. The total fair value of the securities on loan as of September 30, 2025 was $6,841,168.

<sup>(c)</sup> Illiquid securities are as follows: 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br> Date | Current<br> Cost | Fair<br> Value | % of Net<br> Assets |
| Calvert Impact Capital, Inc., 2.500%, 12/15/25 | 12/15/20 | $450000 | $447021 | 0.1% |
| Calvert Impact Capital, Inc., 4.000%, 06/15/28 | 06/15/23 | 350000 | 337395 | 0.1% |
| Calvert Impact Capital, Inc., 5.000%, 12/15/28 | 12/15/23 | 800000 | 788697 | 0.1% |
| Calvert Impact Capital, Inc., 5.000%, 06/15/29 | 06/14/24 | 830000 | 809833 | 0.2% |
| Calvert Impact Capital, Inc., 4.500%, 12/14/29 | 12/13/24 | 150000 | 144255 | 0.0 %<sup>(f)</sup> |
| Calvert Impact Capital, Inc., 4.500%, 06/14/30 | 06/13/25 | 290000 | 274760 | 0.0 %<sup>(f)</sup> |
| Capital Impact Partners Investment, 4.500%, 12/15/25 | 12/16/24 | 150000 | 150131 | 0.0 %<sup>(f)</sup> |
| Capital Impact Partners Investment, 4.500%, 06/15/26 | 06/17/25 | 290000 | 290860 | 0.1% |
| Capital Impact Partners Investment, 5.000%, 12/15/26 | 12/15/23 | 1000000 | 1006850 | 0.2% |
|  |  | $4310000 | $4249802 | 0.8% |

---

<sup>(d)</sup> The rate shown is the 7-day effective yield as of September 30, 2025.

<sup>(e)</sup> The security was purchased with cash collateral received from securities on loan.

<sup>(f)</sup> Percentage rounds to less than 0.1%.

plc - Public Liability Company <br> REIT - Real Estate Investment Trust <br>

---

| | | |
|:---|:---|:---|
| **Schedule of Portfolio Investments** | **Schedule of Portfolio Investments** | **Schedule of Portfolio Investments** |
| ***Praxis Growth Index Fund*** | ***Praxis Growth Index Fund*** | ***Praxis Growth Index Fund*** |
| ***September 30, 2025 (Unaudited)*** | ***September 30, 2025 (Unaudited)*** | ***September 30, 2025 (Unaudited)*** |
| **COMMON STOCKS - 98.8%** | **Shares** | **Fair Value** |
| AEROSPACE & DEFENSE - 0.5% |  |  |
| HEICO Corp. | 5572 | $1798753 |
| Howmet Aerospace, Inc. | 8650 | 1697390 |
|  |  | 3496143 |
| ASSET MANAGEMENT - 1.0% |  |  |
| Ares Management Corp. - Class A | 5856 | 936316 |
| LPL Financial Holdings, Inc. | 3703 | 1231951 |
| Robinhood Markets, Inc. - Class A <sup>(a)</sup> | 34060 | 4876711 |
|  |  | 7044978 |
| AUTOMOTIVE - 3.7% |  |  |
| Tesla, Inc. <sup>(a)</sup> | 60340 | 26834405 |
| BANKING - 0.0% <sup>(b)</sup> |  |  |
| KeyCorp | 3997 | 74704 |
| BEVERAGES - 0.2% |  |  |
| PepsiCo, Inc. | 7760 | 1089814 |
| BIOTECH & PHARMA - 3.0% |  |  |
| AbbVie, Inc. | 7461 | 1727520 |
| Alnylam Pharmaceuticals, Inc. <sup>(a)</sup> | 2970 | 1354320 |
| Eli Lilly & Co. | 20910 | 15954330 |
| Merck & Co., Inc. | 7191 | 603541 |
| Vertex Pharmaceuticals, Inc. <sup>(a)</sup> | 4274 | 1673869 |
| Zoetis, Inc. | 3580 | 523826 |
|  |  | 21837406 |
| CHEMICALS - 0.5% |  |  |
| Linde plc | 7048 | 3347800 |
| COMMERCIAL SUPPORT SERVICES - 0.3% |  |  |
| Cintas Corp. | 7541 | 1547866 |
| Republic Services, Inc. | 3500 | 803180 |
|  |  | 2351046 |
| CONSTRUCTION MATERIALS - 0.0% <sup>(b)</sup> |  |  |
| Vulcan Materials Co. | 236 | 72598 |

---

---

| | | |
|:---|:---|:---|
| **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** |
| ***Praxis Growth Index Fund*** | ***Praxis Growth Index Fund*** | ***Praxis Growth Index Fund*** |
| **COMMON STOCKS - 98.8% (Continued)** | **Shares** | **Fair Value** |
| DIVERSIFIED INDUSTRIALS - 0.1% |  |  |
| Illinois Tool Works, Inc. | 3444 | $898057 |
| E-COMMERCE DISCRETIONARY - 5.3% |  |  |
| Amazon.com, Inc. <sup>(a)</sup> | 175000 | 38424750 |
| eBay, Inc. | 8540 | 776713 |
|  |  | 39201463 |
| ELECTRICAL EQUIPMENT - 1.6% |  |  |
| Amphenol Corp. - Class A | 14484 | 1792395 |
| GE Vernova, Inc. | 6598 | 4057110 |
| Keysight Technologies, Inc. <sup>(a)</sup> | 3981 | 696356 |
| Rockwell Automation, Inc. | 2288 | 799725 |
| Trane Technologies plc | 7160 | 3021234 |
| Veritiv Holdings Co. | 10544 | 1590668 |
|  |  | 11957488 |
| ENGINEERING & CONSTRUCTION - 0.2% |  |  |
| Quanta Services, Inc. | 3128 | 1296306 |
| ENTERTAINMENT CONTENT - 0.7% |  |  |
| AppLovin Corp. - Class A <sup>(a)</sup> | 6660 | 4785476 |
| Electronic Arts, Inc. | 3445 | 694857 |
|  |  | 5480333 |
| HEALTH CARE FACILITIES & SERVICES - 0.3% |  |  |
| Cencora, Inc. | 2140 | 668814 |
| McKesson Corp. | 1910 | 1475552 |
|  |  | 2144366 |
| HOUSEHOLD PRODUCTS - 0.1% |  |  |
| Colgate-Palmolive Co. | 8484 | 678211 |
| INDUSTRIAL SUPPORT SERVICES - 0.3% |  |  |
| W.W. Grainger, Inc. | 2530 | 2410989 |
| INSTITUTIONAL FINANCIAL SERVICES - 0.7% |  |  |
| Cboe Global Markets, Inc. | 1540 | 377685 |
| Coinbase Global, Inc. - Class A <sup>(a)</sup> | 4174 | 1408683 |
| Interactive Brokers Group, Inc. - Class A | 31079 | 2138546 |
| Nasdaq, Inc. | 8490 | 750941 |
| Tradeweb Markets, Inc. - Class A | 1460 | 162031 |
|  |  | 4837886 |

---

---

| | | |
|:---|:---|:---|
| **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** |
| ***Praxis Growth Index Fund*** | ***Praxis Growth Index Fund*** | ***Praxis Growth Index Fund*** |
| **COMMON STOCKS - 98.8% (Continued)** | **Shares** | **Fair Value** |
| INSURANCE - 0.4% |  |  |
| Aon plc - Class A | 2560 | $912845 |
| Arch Capital Group Ltd. | 5760 | 522605 |
| Brown & Brown, Inc. | 1573 | 147532 |
| Progressive Corp. (The) | 5690 | 1405145 |
|  |  | 2988127 |
| INTERNET MEDIA & SERVICES - 16.2% |  |  |
| Alphabet, Inc. - Class A | 124440 | 30251364 |
| Alphabet, Inc. - Class C | 97310 | 23699850 |
| Booking Holdings, Inc. | 830 | 4481394 |
| DoorDash, Inc. - Class A <sup>(a)</sup> | 10120 | 2752539 |
| Expedia Group, Inc. | 3256 | 695970 |
| GoDaddy, Inc. - Class A <sup>(a)</sup> | 1434 | 196214 |
| Meta Platforms, Inc. - Class A | 45180 | 33179288 |
| Netflix, Inc. <sup>(a)</sup> | 11520 | 13811558 |
| Pinterest, Inc. - Class A <sup>(a)</sup> | 22240 | 715461 |
| Reddit, Inc. - Class A <sup>(a)</sup> | 4106 | 944339 |
| ROBLOX Corp. - Class A <sup>(a)</sup> | 19330 | 2677592 |
| Uber Technologies, Inc. <sup>(a)</sup> | 50480 | 4945526 |
| VeriSign, Inc. | 3210 | 897420 |
|  |  | 119248515 |
| LEISURE FACILITIES & SERVICES - 1.3% |  |  |
| Chipotle Mexican Grill, Inc. <sup>(a)</sup> | 35120 | 1376353 |
| Domino's Pizza, Inc. | 458 | 197723 |
| Hilton Worldwide Holdings, Inc. | 7350 | 1906884 |
| Live Nation Entertainment, Inc. <sup>(a)</sup> | 5560 | 908504 |
| Marriott International, Inc. - Class A | 4660 | 1213650 |
| McDonald's Corp. | 7538 | 2290723 |
| Royal Caribbean Cruises Ltd. | 4160 | 1346093 |
| Starbucks Corp. | 7162 | 605905 |
|  |  | 9845835 |
| LEISURE PRODUCTS - 0.3% |  |  |
| Axon Enterprise, Inc. <sup>(a)</sup> | 2700 | 1937628 |
| MACHINERY - 0.3% |  |  |
| Deere & Co. | 3936 | 1799776 |
| Veralto Corp. | 5884 | 627293 |
|  |  | 2427069 |

---

---

| | | |
|:---|:---|:---|
| **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** |
| ***Praxis Growth Index Fund*** | ***Praxis Growth Index Fund*** | ***Praxis Growth Index Fund*** |
| **COMMON STOCKS - 98.8% (Continued)** | **Shares** | **Fair Value** |
| MEDICAL EQUIPMENT & DEVICES - 2.4% |  |  |
| Agilent Technologies, Inc. <sup>(c)</sup> | 4905 | $629557 |
| Boston Scientific Corp. <sup>(a)</sup> | 29440 | 2874227 |
| Danaher Corp. | 9764 | 1935811 |
| DexCom, Inc. <sup>(a)</sup> | 10461 | 703921 |
| IDEXX Laboratories, Inc. <sup>(a)</sup> | 1700 | 1086113 |
| Insulet Corp. <sup>(a)</sup> | 1698 | 524223 |
| Intuitive Surgical, Inc. <sup>(a)</sup> | 6730 | 3009858 |
| Mettler-Toledo International, Inc. <sup>(a)</sup> | 550 | 675185 |
| ResMed, Inc. | 2090 | 572096 |
| Stryker Corp. | 4760 | 1759629 |
| Thermo Fisher Scientific, Inc. | 6355 | 3082302 |
| Waters Corp. <sup>(a)</sup> | 1646 | 493487 |
| West Pharmaceutical Services, Inc. | 1415 | 371197 |
|  |  | 17717606 |
| OIL & GAS PRODUCERS - 0.1% |  |  |
| EQT Corp. | 7373 | 401312 |
| Kinder Morgan, Inc. | 6718 | 190187 |
|  |  | 591499 |
| OIL & GAS SERVICES & EQUIPMENT - 0.3% |  |  |
| Baker Hughes Co. | 30530 | 1487422 |
| Schlumberger Ltd. | 17760 | 610411 |
|  |  | 2097833 |
| OIL, GAS & CONSUMABLE FUELS - 0.1% |  |  |
| Venture Global, Inc. - Class A | 26077 | 370033 |
| REAL ESTATE SERVICES - 0.0% <sup>(b)</sup> |  |  |
| CBRE Group, Inc. - Class A <sup>(a)</sup> | 1717 | 270530 |
| REITS - 0.8% |  |  |
| American Tower Corp. | 5412 | 1040836 |
| Equinix, Inc. | 1777 | 1391817 |
| Iron Mountain, Inc. | 8670 | 883820 |
| Texas Pacific Land Corp. <sup>(c)</sup> | 310 | 289428 |
| Welltower, Inc. | 14163 | 2522997 |
|  |  | 6128898 |
| RENEWABLE ENERGY - 0.1% |  |  |
| First Solar, Inc. <sup>(a)</sup> | 3450 | 760828 |

---

---

| | | |
|:---|:---|:---|
| **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** |
| ***Praxis Growth Index Fund*** | ***Praxis Growth Index Fund*** | ***Praxis Growth Index Fund*** |
| **COMMON STOCKS - 98.8% (Continued)** | **Shares** | **Fair Value** |
| RETAIL - CONSUMER STAPLES - 0.9% |  |  |
| Costco Wholesale Corp. | 5986 | $5540821 |
| Walmart, Inc. | 7770 | 800776 |
|  |  | 6341597 |
| RETAIL - DISCRETIONARY - 2.9% |  |  |
| AutoZone, Inc. <sup>(a)</sup> | 659 | 2827268 |
| Carvana Co. <sup>(a)</sup> | 4400 | 1659856 |
| Cloudflare, Inc. - Class A <sup>(a)</sup> | 9380 | 2012854 |
| Home Depot, Inc. (The) | 13406 | 5431977 |
| Lowe's Cos., Inc. | 6789 | 1706144 |
| Lululemon Athletica, Inc. <sup>(a)</sup> | 2126 | 378279 |
| O'Reilly Automotive, Inc. <sup>(a)</sup> | 27150 | 2927041 |
| TJX Cos., Inc. (The) | 25503 | 3686204 |
| Tractor Supply Co. | 10300 | 585761 |
|  |  | 21215384 |
| SEMICONDUCTORS - 20.4% |  |  |
| Advanced Micro Devices, Inc. <sup>(a)</sup> | 34621 | 5601332 |
| Applied Materials, Inc. | 22816 | 4671348 |
| Broadcom, Inc. | 103001 | 33981060 |
| Intel Corp. <sup>(a)</sup> | 14810 | 496875 |
| KLA Corp. | 3030 | 3268158 |
| Lam Research Corp. | 28890 | 3868371 |
| Marvell Technology, Inc. | 22460 | 1888212 |
| Monolithic Power Systems, Inc. | 1690 | 1555882 |
| NVIDIA Corp. | 495402 | 92432105 |
| QUALCOMM, Inc. | 9790 | 1628664 |
| Texas Instruments, Inc. | 3587 | 659040 |
|  |  | 150051047 |
| SOFTWARE - 15.4% |  |  |
| Adobe, Inc. <sup>(a)</sup> | 2177 | 767937 |
| Atlassian Corp. - Class A <sup>(a)</sup> | 4700 | 750590 |
| Autodesk, Inc. <sup>(a)</sup> | 4537 | 1441269 |
| Cadence Design Systems, Inc. <sup>(a)</sup> | 10624 | 3731786 |
| Crowdstrike Holdings, Inc. - Class A <sup>(a)</sup> | 6320 | 3099202 |
| Fortinet, Inc. <sup>(a)</sup> | 12416 | 1043937 |
| HubSpot, Inc. <sup>(a)</sup> | 552 | 258226 |
| Intuit, Inc. | 6540 | 4466231 |
| Microsoft Corp. | 128238 | 66420872 |
| MongoDB, Inc. <sup>(a)</sup> | 3841 | 1192170 |

---

---

| | | |
|:---|:---|:---|
| **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** |
| ***Praxis Growth Index Fund*** | ***Praxis Growth Index Fund*** | ***Praxis Growth Index Fund*** |
| **COMMON STOCKS - 98.8% (Continued)** | **Shares** | **Fair Value** |
| SOFTWARE - 15.4% (Continued) |  |  |
| OKTA, Inc. <sup>(a)</sup> | 5300 | $486010 |
| Oracle Corp. | 24170 | 6797571 |
| Palo Alto Networks, Inc. <sup>(a)</sup> | 14120 | 2875114 |
| Salesforce, Inc. | 13270 | 3144990 |
| ServiceNow, Inc. <sup>(a)</sup> | 6293 | 5791322 |
| Snowflake, Inc. <sup>(a)</sup> | 8540 | 1926197 |
| Strategy, Inc. - Class A <sup>(a)</sup> | 5763 | 1856896 |
| Synopsys, Inc. <sup>(a)</sup> | 6452 | 3183352 |
| Tyler Technologies, Inc. <sup>(a)</sup> | 1770 | 925993 |
| Veeva Systems, Inc. - Class A <sup>(a)</sup> | 3783 | 1126993 |
| Workday, Inc. - Class A <sup>(a)</sup> | 3460 | 832926 |
| Zscaler, Inc. <sup>(a)</sup> | 3130 | 937936 |
|  |  | 113057520 |
| SPECIALTY FINANCE - 0.3% |  |  |
| American Express Co. | 6050 | 2009568 |
| Rocket Cos., Inc. - Class A <sup>(c)</sup> | 16342 | 316708 |
|  |  | 2326276 |
| TECHNOLOGY HARDWARE - 12.4% |  |  |
| Apple, Inc. | 328685 | 83693061 |
| Arista Networks, Inc. <sup>(a)</sup> | 29760 | 4336330 |
| Datadog, Inc. - Class A <sup>(a)</sup> | 7580 | 1079392 |
| NetApp, Inc. | 5800 | 687068 |
| Seagate Technology Holdings plc | 1666 | 393276 |
| Super Micro Computer, Inc. <sup>(a)</sup> | 19866 | 952376 |
|  |  | 91141503 |
| TECHNOLOGY SERVICES - 5.3% |  |  |
| Accenture plc - Class A | 9379 | 2312861 |
| Automatic Data Processing, Inc. | 6480 | 1901880 |
| Block, Inc. <sup>(a)</sup> | 12145 | 877719 |
| Broadridge Financial Solutions, Inc. | 2596 | 618289 |
| CoStar Group, Inc. <sup>(a)</sup> | 10633 | 897106 |
| Equifax, Inc. | 1908 | 489459 |
| Fair Isaac Corp. <sup>(a)</sup> | 920 | 1376808 |
| Fiserv, Inc. <sup>(a)</sup> | 11266 | 1452525 |
| Mastercard, Inc. - Class A | 17176 | 9769881 |
| Moody's Corp. | 3375 | 1608120 |
| MSCI, Inc. | 1797 | 1019636 |
| S&P Global, Inc. | 4794 | 2333288 |

---

---

| | | |
|:---|:---|:---|
| **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** |
| ***Praxis Growth Index Fund*** | ***Praxis Growth Index Fund*** | ***Praxis Growth Index Fund*** |
| **COMMON STOCKS - 98.8% (Continued)** | **Shares** | **Fair Value** |
| TECHNOLOGY SERVICES - 5.2% (Continued) |  |  |
| Verisk Analytics, Inc. | 57 | $14336 |
| Visa, Inc. - Class A | 40713 | 13898604 |
|  |  | 38570512 |
| TELECOMMUNICATIONS - 0.1% |  |  |
| T-Mobile US, Inc. | 4420 | 1058060 |
| TRANSPORTATION & LOGISTICS - 0.2% |  |  |
| Old Dominion Freight Line, Inc. | 5900 | 830602 |
| Union Pacific Corp. | 3911 | 924443 |
|  |  | 1755045 |
| WHOLESALE - DISCRETIONARY - 0.1% |  |  |
| Copart, Inc. <sup>(a)</sup> | 20652 | 928720 |
| **TOTAL COMMON STOCKS** (COST $238,244,736) |  | $725884058 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CORPORATE NOTES - 0.8%** | **Coupon** | **Maturity** | **Principal Amount** | **Fair Value** |
| COMMUNITY DEVELOPMENT - 0.8% |  |  |  |  |
| Calvert Impact Capital, Inc. <sup>(d)</sup> | 2.500% | 12/15/25 | $500000 | $496690 |
| Calvert Impact Capital, Inc. <sup>(d)</sup> | 4.000% | 06/15/28 | 750000 | 722990 |
| Calvert Impact Capital, Inc. <sup>(d)</sup> | 5.000% | 12/15/28 | 450000 | 443642 |
| Calvert Impact Capital, Inc. <sup>(d)</sup> | 5.000% | 06/15/29 | 1270000 | 1239141 |
| Calvert Impact Capital, Inc. <sup>(d)</sup> | 4.500% | 12/14/29 | 450000 | 432766 |
| Calvert Impact Capital, Inc. <sup>(d)</sup> | 4.500% | 06/14/30 | 760000 | 720060 |
| Capital Impact Partners Investment <sup>(d)</sup> | 4.500% | 12/15/25 | 450000 | 450393 |
| Capital Impact Partners Investment <sup>(d)</sup> | 4.500% | 06/15/26 | 760000 | 762253 |
| Capital Impact Partners Investment <sup>(d)</sup> | 5.000% | 12/15/26 | 500000 | 503425 |
| **TOTAL CORPORATE NOTES** (COST $5,890,000) |  |  |  | $5771360 |

---

---

| | | |
|:---|:---|:---|
| **MONEY MARKET FUNDS - 0.4%** | **Shares** | **Fair Value** |
| First American Government Obligations Fund - Class X, 4.05% <sup>(e)</sup> (COST $3,187,043) | 3187043 | $3187043 |

---

---

| | | |
|:---|:---|:---|
| **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** | **Schedule of Portfolio Investments (Continued)** |
| ***Praxis Growth Index Fund*** | ***Praxis Growth Index Fund*** | ***Praxis Growth Index Fund*** |
| **INVESTMENT PURCHASED WITH THE CASH PROCEEDS FROM SECURITIES LENDING - 0.1%** | **Shares** | **Fair Value** |
| Mount Vernon Liquid Assets Portfolio, LLC, 4.22% <sup>(e)(f)</sup> (COST $966,483) | 966483 | $966483 |
| **TOTAL INVESTMENTS -** (COST $248,288,262) **- 100.1%** |  | $735808944 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1%)** |  | (970901) |
| **NET ASSETS - 100.0%** |  | $734838043 |

---

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> Percentage rounds to less than 0.1%.

<sup>(c)</sup> All or a portion of the security is on loan. The total fair value of the securities on loan as of September 30, 2025 was $954,408.

<sup>(d)</sup> Illiquid securities are as follows: 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition<br> Date | Current<br> Cost | Fair<br> Value | % of Net<br> Assets |
| Calvert Impact Capital, Inc., 2.500%, 12/15/25 | 12/15/20 | $500000 | $496690 | 0.1% |
| Calvert Impact Capital, Inc., 4.000%, 06/15/28 | 06/15/23 | 750000 | 722990 | 0.1% |
| Calvert Impact Capital, Inc., 5.000%, 12/15/28 | 12/15/23 | 450000 | 443642 | 0.0 %<sup>(b)</sup> |
| Calvert Impact Capital, Inc., 5.000%, 06/15/29 | 06/14/24 | 1270000 | 1239141 | 0.2% |
| Calvert Impact Capital, Inc., 4.500%, 12/14/29 | 12/13/24 | 450000 | 432766 | 0.0 %<sup>(b)</sup> |
| Calvert Impact Capital, Inc., 4.500%, 06/14/30 | 12/13/24 | 760000 | 720060 | 0.1% |
| Capital Impact Partners Investment, 4.500%, 12/15/25 | 06/20/23 | 450000 | 450393 | 0.1% |
| Capital Impact Partners Investment, 4.500%, 06/15/26 | 12/16/24 | 760000 | 762253 | 0.1% |
| Capital Impact Partners Investment, 5.000%, 12/15/26 | 12/15/23 | 500000 | 503425 | 0.1% |
|  |  | $5890000 | $5771360 | 0.8% |

---

<sup>(e)</sup> The rate shown is the 7-day effective yield as of September 30, 2025. <br> <sup>(f)</sup> The security was purchased with cash collateral received from securities on loan.

plc - Public Liability Company <br> REIT - Real Estate Investment Trust

**Schedule of Portfolio Investments**

**Praxis Small Cap Index Fund**

**September 30, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.6%** | **Shares** | **Fair Value** |
| ADVERTISING & MARKETING - 0.5% |  |  |
| Interpublic Group of Cos., Inc. (The) | 11340 | $316499 |
| Omnicom Group, Inc. | 7420 | 604953 |
|  |  | 921452 |
| AEROSPACE & DEFENSE - 0.1% |  |  |
| Firefly Aerospace, Inc. <sup>(a)</sup> | 2865 | 84002 |
| Loar Holdings, Inc. <sup>(a)</sup> | 1460 | 116800 |
|  |  | 200802 |
| APPAREL & TEXTILE PRODUCTS - 1.3% |  |  |
| Crocs, Inc. <sup>(a)(b)</sup> | 1490 | 124490 |
| Deckers Outdoor Corp. <sup>(a)</sup> | 4779 | 484447 |
| Kontoor Brands, Inc. | 4770 | 380503 |
| Oxford Industries, Inc. | 739 | 29959 |
| Ralph Lauren Corp. | 1040 | 326102 |
| Tapestry, Inc. | 5540 | 627239 |
| VF Corp. | 18085 | 260967 |
| Wolverine World Wide, Inc. | 9880 | 271107 |
|  |  | 2504814 |
| ASSET MANAGEMENT - 2.0% |  |  |
| Archer Aviation, Inc. - Class A <sup>(a)</sup> | 15534 | 148816 |
| Artisan Partners Asset Management, Inc. - Class A | 3310 | 143654 |
| Carlyle Group, Inc. (The) | 7720 | 484044 |
| Franklin Resources, Inc. | 38148 | 882363 |
| GitLab, Inc. - Class A <sup>(a)(b)</sup> | 3930 | 177164 |
| Invesco Ltd. | 13310 | 305331 |
| Janus Henderson Group plc | 4360 | 194064 |
| Jefferies Financial Group, Inc. | 4831 | 316044 |
| StepStone Group, Inc. - Class A | 5670 | 370308 |
| Stifel Financial Corp. | 2230 | 253038 |
| TPG, Inc. | 3900 | 224055 |
| Virtus Investment Partners, Inc. | 920 | 174828 |
| WisdomTree, Inc. <sup>(b)</sup> | 21350 | 296765 |
|  |  | 3970474 |
| AUTOMOTIVE - 1.5% |  |  |
| Aptiv plc <sup>(a)</sup> | 8810 | 759598 |
| BorgWarner, Inc. | 5940 | 261122 |
| Dana, Inc. | 17040 | 341482 |
| Dorman Products, Inc. <sup>(a)</sup> | 2970 | 462964 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Small Cap Index Fund**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| AUTOMOTIVE - 1.5% (Continued) |  |  |
| Harley-Davidson, Inc. | 6260 | $174654 |
| Lear Corp. | 1460 | 146891 |
| Lucid Group, Inc. <sup>(a)</sup> | 1632 | 38825 |
| Modine Manufacturing Co. <sup>(a)(b)</sup> | 1320 | 187651 |
| Phinia, Inc. | 3280 | 188534 |
| Rivian Automotive, Inc. - Class A <sup>(a)(b)</sup> | 25410 | 373019 |
|  |  | 2934740 |
| BANKING - 5.1% |  |  |
| Ameris Bancorp | 6014 | 440886 |
| Atlantic Union Bankshares Corp. | 4240 | 149630 |
| Axos Financial, Inc. <sup>(a)</sup> | 5330 | 451184 |
| BancFirst Corp. | 2790 | 352795 |
| Bank of Hawaii Corp. | 3580 | 234991 |
| Bank OZK | 3190 | 162626 |
| Banner Corp. | 1910 | 125105 |
| Beacon Financial Corp. | 7000 | 165970 |
| Cathay General Bancorp | 3980 | 191080 |
| City Holding Co. <sup>(b)</sup> | 2750 | 340642 |
| Columbia Banking System, Inc. | 4960 | 127670 |
| Comerica, Inc. | 6780 | 464566 |
| CVB Financial Corp. | 10060 | 190235 |
| East West Bancorp, Inc. | 3480 | 370446 |
| First BanCorp | 18880 | 416304 |
| First Citizens BancShares, Inc. - Class A | 260 | 465182 |
| First Financial Bancorp | 6900 | 174225 |
| First Hawaiian, Inc. | 9470 | 235140 |
| First Horizon Corp. | 14190 | 320836 |
| Flagstar Financial, Inc. | 21850 | 252367 |
| Fulton Financial Corp. | 7890 | 146991 |
| Hancock Whitney Corp. | 2130 | 133359 |
| Independent Bank Corp. | 2280 | 157708 |
| National Bank Holdings Corp. - Class A | 3640 | 140650 |
| NBT Bancorp, Inc. | 3250 | 135720 |
| Northwest Bancshares, Inc. | 12440 | 154132 |
| OFG Bancorp | 7230 | 314433 |
| Park National Corp. | 2050 | 333186 |
| Pinnacle Financial Partners, Inc. | 1450 | 135996 |
| Popular, Inc. | 1090 | 138441 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Small Cap Index Fund**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| BANKING - 5.1% (Continued) |  |  |
| Provident Financial Services, Inc. | 7040 | $135731 |
| ServisFirst Bancshares, Inc. | 5330 | 429225 |
| SouthState Bank Corp. | 1930 | 190819 |
| Synovus Financial Corp. | 3170 | 155584 |
| Triumph Financial, Inc. <sup>(a)</sup> | 2960 | 148118 |
| Trustmark Corp. | 4750 | 188100 |
| UMB Financial Corp. | 2320 | 274572 |
| United Bankshares, Inc. | 3920 | 145863 |
| United Community Banks, Inc. | 7250 | 227288 |
| Webster Financial Corp. | 4570 | 271641 |
| Western Alliance Bancorp | 2920 | 253222 |
| Wintrust Financial Corp. | 1400 | 185416 |
| Zions Bancorp N.A. | 3400 | 192372 |
|  |  | 10220447 |
| BEVERAGES - 0.3% |  |  |
| Celsius Holdings, Inc. <sup>(a)</sup> | 6800 | 390932 |
| National Beverage Corp. <sup>(a)</sup> | 4440 | 163925 |
|  |  | 554857 |
| BIOTECH & PHARMA - 4.7% |  |  |
| Alkermes plc <sup>(a)</sup> | 6490 | 194700 |
| Arrowhead Pharmaceuticals, Inc. <sup>(a)</sup> | 4483 | 154619 |
| Avidity Biosciences, Inc. <sup>(a)</sup> | 4851 | 211358 |
| Axsome Therapeutics, Inc. <sup>(a)</sup> | 1150 | 139668 |
| BioMarin Pharmaceutical, Inc. <sup>(a)</sup> | 7616 | 412483 |
| Braze, Inc. - Class A <sup>(a)</sup> | 3225 | 91719 |
| BridgeBio Pharma, Inc. <sup>(a)(b)</sup> | 5170 | 268530 |
| CG Oncology, Inc. <sup>(a)</sup> | 3744 | 150808 |
| Crinetics Pharmaceuticals, Inc. <sup>(a)(b)</sup> | 5805 | 241778 |
| Cytokinetics, Inc. <sup>(a)</sup> | 4080 | 224237 |
| Elanco Animal Health, Inc. <sup>(a)</sup> | 17250 | 347415 |
| Exelixis, Inc. <sup>(a)</sup> | 8150 | 336595 |
| Guardant Health, Inc. <sup>(a)</sup> | 4080 | 254919 |
| Halozyme Therapeutics, Inc. <sup>(a)</sup> | 5110 | 374767 |
| Harmony Biosciences Holdings, Inc. <sup>(a)</sup> | 4890 | 134768 |
| Incyte Corp. <sup>(a)</sup> | 6980 | 591974 |
| Innoviva, Inc. <sup>(a)</sup> | 10960 | 200020 |
| Insmed, Inc. <sup>(a)</sup> | 6443 | 927857 |
| Ionis Pharmaceuticals, Inc. <sup>(a)</sup> | 6770 | 442893 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Small Cap Index Fund**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| BIOTECH & PHARMA - 4.7% (Continued) |  |  |
| Jazz Pharmaceuticals plc <sup>(a)</sup> | 1430 | $188474 |
| Krystal Biotech, Inc. <sup>(a)</sup> | 800 | 141224 |
| Kymera Therapeutics, Inc. <sup>(a)</sup> | 2181 | 123445 |
| Madrigal Pharmaceuticals, Inc. <sup>(a)</sup> | 540 | 247676 |
| Moderna, Inc. <sup>(a)</sup> | 10250 | 264758 |
| Neurocrine Biosciences, Inc. <sup>(a)</sup> | 2800 | 393064 |
| Organon & Co. | 12050 | 128694 |
| Perrigo Co. plc | 6260 | 139410 |
| Prestige Consumer Healthcare, Inc. <sup>(a)</sup> | 4850 | 302640 |
| Revolution Medicines, Inc. <sup>(a)(b)</sup> | 4630 | 216221 |
| Roivant Sciences Ltd. <sup>(a)</sup> | 13680 | 206978 |
| Supernus Pharmaceuticals, Inc. <sup>(a)</sup> | 5090 | 243251 |
| TG Therapeutics, Inc. <sup>(a)</sup> | 5850 | 211331 |
| Ultragenyx Pharmaceutical, Inc. <sup>(a)</sup> | 7441 | 223825 |
| United Therapeutics Corp. <sup>(a)</sup> | 1380 | 578510 |
| Viking Therapeutics, Inc. <sup>(a)</sup> | 5730 | 150584 |
|  |  | 9461193 |
| CABLE & SATELLITE - 0.2% |  |  |
| GCI Liberty, Inc. - Class C <sup>(a)</sup> | 3767 | 140396 |
| Liberty Broadband Corp. - Series C <sup>(a)</sup> | 3060 | 194432 |
| Sirius XM Holdings, Inc. | 6410 | 149193 |
|  |  | 484021 |
| CHEMICALS - 1.7% |  |  |
| Albemarle Corp. <sup>(b)</sup> | 3057 | 247862 |
| Avery Dennison Corp. | 3161 | 512619 |
| Balchem Corp. | 4840 | 726290 |
| CF Industries Holdings, Inc. | 5969 | 535419 |
| Eastman Chemical Co. | 2490 | 156995 |
| Ecovyst, Inc. <sup>(a)</sup> | 12185 | 106741 |
| H.B. Fuller Co. | 2550 | 151164 |
| Materion Corp. | 2050 | 247661 |
| Mosaic Co. (The) | 10480 | 363446 |
| WD-40 Co. | 1700 | 335920 |
|  |  | 3384117 |
| COMMERCIAL SUPPORT SERVICES - 2.1% |  |  |
| ABM Industries, Inc. | 7160 | 330219 |
| ADT, Inc. | 12680 | 110443 |
| Brady Corp. - Class A | 8080 | 630483 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Small Cap Index Fund**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| COMMERCIAL SUPPORT SERVICES - 2.1% (Continued) |  |  |
| Casella Waste Systems, Inc. - Class A <sup>(a)</sup> | 1710 | $162245 |
| Clean Harbors, Inc. <sup>(a)</sup> | 1410 | 327430 |
| CorVel Corp. <sup>(a)</sup> | 6990 | 541166 |
| FTI Consulting, Inc. <sup>(a)</sup> | 780 | 126087 |
| H&R Block, Inc. | 3430 | 173455 |
| Insperity, Inc. | 4442 | 218546 |
| Korn Ferry | 7970 | 557741 |
| ManpowerGroup, Inc. | 3480 | 131892 |
| Robert Half, Inc. | 15137 | 514355 |
| TriNet Group, Inc. | 1720 | 115051 |
| UniFirst Corp. | 1280 | 214003 |
|  |  | 4153116 |
| CONSTRUCTION MATERIALS - 0.6% |  |  |
| Advanced Drainage Systems, Inc. | 1990 | 276013 |
| Carlisle Cos., Inc. | 1007 | 331263 |
| MDU Resources Group, Inc. | 11610 | 206774 |
| Owens Corning | 2000 | 282920 |
| Simpson Manufacturing Co., Inc. | 900 | 150714 |
|  |  | 1247684 |
| CONSUMER SERVICES - 1.0% |  |  |
| Adtalem Global Education, Inc. <sup>(a)</sup> | 3660 | 565287 |
| Bright Horizons Family Solutions, Inc. <sup>(a)</sup> | 1610 | 174798 |
| Service Corp. International | 9004 | 749313 |
| Strategic Education, Inc. | 1700 | 146217 |
| Stride, Inc. <sup>(a)(b)</sup> | 2890 | 430436 |
|  |  | 2066051 |
| CONTAINERS & PACKAGING - 0.9% |  |  |
| AptarGroup, Inc. | 950 | 126977 |
| Ball Corp. | 11207 | 565057 |
| Crown Holdings, Inc. | 4210 | 406644 |
| Smurfit WestRock plc | 17810 | 758171 |
|  |  | 1856849 |
| DIVERSIFIED INDUSTRIALS - 0.4% |  |  |
| ITT, Inc. | 1970 | 352157 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Small Cap Index Fund**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| DIVERSIFIED INDUSTRIALS - 0.4% (Continued) |  |  |
| Pentair plc | 4250 | $470730 |
|  |  | 822887 |
| E-COMMERCE DISCRETIONARY - 0.5% |  |  |
| Chewy, Inc. - Class A <sup>(a)</sup> | 3170 | 128226 |
| Etsy, Inc. <sup>(a)(b)</sup> | 4920 | 326639 |
| Wayfair, Inc. - Class A <sup>(a)(b)</sup> | 5090 | 454690 |
| Waystar Holding Corp. <sup>(a)</sup> | 3880 | 147130 |
|  |  | 1056685 |
| ELECTRIC UTILITIES - 2.1% |  |  |
| AES Corp. (The) | 36490 | 480208 |
| Avista Corp. | 4680 | 176951 |
| Evergy, Inc. | 3720 | 282794 |
| MGE Energy, Inc. | 2550 | 214659 |
| NorthWestern Energy Group, Inc. | 4521 | 264976 |
| NRG Energy, Inc. | 6090 | 986276 |
| Nuvalent, Inc. - Class A <sup>(a)</sup> | 1380 | 119342 |
| OGE Energy Corp. | 5730 | 265127 |
| Oklo, Inc. <sup>(a)(b)</sup> | 3140 | 350518 |
| Pinnacle West Capital Corp. | 2760 | 247462 |
| Talen Energy Corp. <sup>(a)</sup> | 1370 | 582771 |
| TXNM Energy, Inc. | 4340 | 245427 |
|  |  | 4216511 |
| ELECTRICAL EQUIPMENT - 4.0% |  |  |
| AAON, Inc. <sup>(b)</sup> | 3590 | 335450 |
| Acuity, Inc. | 1210 | 416712 |
| Advanced Energy Industries, Inc. | 2780 | 472989 |
| Alarm.com Holdings, Inc. <sup>(a)</sup> | 4510 | 239391 |
| Allegion plc | 1350 | 239422 |
| API Group Corp. <sup>(a)</sup> | 12030 | 413471 |
| Badger Meter, Inc. | 2250 | 401805 |
| Bloom Energy Corp. - Class A <sup>(a)</sup> | 5500 | 465135 |
| Cognex Corp. | 4800 | 217440 |
| Generac Holdings, Inc. <sup>(a)</sup> | 1590 | 266166 |
| Hayward Holdings, Inc. <sup>(a)</sup> | 6850 | 103572 |
| Hubbell, Inc. | 550 | 236670 |
| Itron, Inc. <sup>(a)</sup> | 2350 | 292716 |
| Lennox International, Inc. <sup>(b)</sup> | 930 | 492305 |
| Littelfuse, Inc. | 2290 | 593133 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Small Cap Index Fund**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| ELECTRICAL EQUIPMENT - 4.0% (Continued) |  |  |
| NEXTracker, Inc. - Class A <sup>(a)(b)</sup> | 9050 | $669610 |
| nVent Electric plc | 5350 | 527724 |
| OSI Systems, Inc. <sup>(a)(b)</sup> | 2550 | 635562 |
| SPX Technologies, Inc. <sup>(a)</sup> | 5280 | 986198 |
|  |  | 8005471 |
| ENGINEERING & CONSTRUCTION - 3.5% |  |  |
| AECOM | 4290 | 559716 |
| Arcosa, Inc. | 6060 | 567883 |
| Comfort Systems USA, Inc. | 1080 | 891194 |
| Construction Partners, Inc. - Class A <sup>(a)</sup> | 3830 | 486410 |
| Dycom Industries, Inc. <sup>(a)</sup> | 1780 | 519333 |
| EMCOR Group, Inc. | 1240 | 805430 |
| Everus Construction Group, Inc. <sup>(a)</sup> | 2078 | 178188 |
| Frontdoor, Inc. <sup>(a)</sup> | 6020 | 405086 |
| Granite Construction, Inc. <sup>(b)</sup> | 5010 | 549347 |
| Installed Building Products, Inc. | 1770 | 436588 |
| MasTec, Inc. <sup>(a)</sup> | 2270 | 483079 |
| Sterling Infrastructure, Inc. <sup>(a)</sup> | 1160 | 394029 |
| Tetra Tech, Inc. | 9380 | 313104 |
| TopBuild Corp. <sup>(a)</sup> | 930 | 363500 |
| WillScott Holdings Corp. | 4900 | 103439 |
|  |  | 7056326 |
| ENTERTAINMENT CONTENT - 0.1% |  |  |
| Paramount Skydance Corp. - Class B <sup>(b)</sup> | 9523 | 180175 |
| FOOD - 1.3% |  |  |
| BellRing Brands, Inc. <sup>(a)</sup> | 3120 | 113412 |
| Cal-Maine Foods, Inc. | 3850 | 362285 |
| Campbell's Co. (The) <sup>(b)</sup> | 12004 | 379086 |
| Conagra Brands, Inc. | 38073 | 697117 |
| Darling Ingredients, Inc. <sup>(a)</sup> | 4770 | 147250 |
| Ingredion, Inc. | 1050 | 128215 |
| J.M. Smucker Co. (The) | 2450 | 266070 |
| Lamb Weston Holdings, Inc. | 3959 | 229939 |
| Simply Good Foods Co. (The) <sup>(a)</sup> | 7262 | 180243 |
|  |  | 2503617 |
| FORESTRY, PAPER & WOOD PRODUCTS - 0.3% |  |  |
| Boise Cascade Co. | 5270 | 407476 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Small Cap Index Fund**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| FORESTRY, PAPER & WOOD PRODUCTS - 0.3% (Continued) |  |  |
| Trex Co., Inc. <sup>(a)</sup> | 2950 | $152427 |
|  |  | 559903 |
| GAS & WATER UTILITIES - 1.4% |  |  |
| American States Water Co. | 4280 | 313809 |
| California Water Service Group | 5680 | 260655 |
| Essential Utilities, Inc. | 15970 | 637203 |
| NiSource, Inc. | 7030 | 304399 |
| Southwest Gas Holdings, Inc. | 6850 | 536629 |
| UGI Corp. | 21010 | 698793 |
|  |  | 2751488 |
| HEALTH CARE FACILITIES & SERVICES - 1.7% |  |  |
| Acadia Healthcare Co., Inc. <sup>(a)</sup> | 5153 | 127588 |
| AdaptHealth Corp. <sup>(a)</sup> | 14120 | 126374 |
| Centene Corp. <sup>(a)</sup> | 9622 | 343313 |
| Charles River Laboratories International, Inc. <sup>(a)</sup> | 1279 | 200112 |
| Concentra Group Holdings Parent, Inc. | 13589 | 284418 |
| DaVita, Inc. <sup>(a)(b)</sup> | 1170 | 155458 |
| Encompass Health Corp. | 2740 | 348035 |
| Ensign Group, Inc. (The) <sup>(b)</sup> | 1550 | 267794 |
| Medpace Holdings, Inc. <sup>(a)</sup> | 820 | 421611 |
| Molina Healthcare, Inc. <sup>(a)</sup> | 1155 | 221021 |
| Option Care Health, Inc. <sup>(a)</sup> | 5870 | 162951 |
| Pediatrix Medical Group, Inc. <sup>(a)</sup> | 13840 | 231820 |
| RadNet, Inc. <sup>(a)</sup> | 3960 | 301792 |
| Select Medical Holdings Corp. | 15210 | 195296 |
|  |  | 3387583 |
| HOME & OFFICE PRODUCTS - 0.5% |  |  |
| HNI Corp. <sup>(b)</sup> | 7870 | 368710 |
| Newell Brands, Inc. | 8539 | 44744 |
| Somnigroup International, Inc. | 5890 | 496704 |
| Whirlpool Corp. <sup>(b)</sup> | 2090 | 164274 |
|  |  | 1074432 |
| HOME CONSTRUCTION - 2.0% |  |  |
| Armstrong World Industries, Inc. | 2600 | 509626 |
| Cavco Industries, Inc. <sup>(a)(b)</sup> | 1330 | 772371 |
| Griffon Corp. | 3610 | 274901 |
| Interface, Inc. | 10230 | 296056 |
| LGI Homes, Inc. <sup>(a)</sup> | 3120 | 161335 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Small Cap Index Fund**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| HOME CONSTRUCTION - 2.0% (Continued) |  |  |
| M/I Homes, Inc. <sup>(a)</sup> | 2350 | $339434 |
| Masco Corp. | 4408 | 310279 |
| Meritage Homes Corp. | 4450 | 322314 |
| Mohawk Industries, Inc. <sup>(a)</sup> | 1560 | 201115 |
| Toll Brothers, Inc. | 2290 | 316341 |
| TRI Pointe Homes, Inc. <sup>(a)</sup> | 12650 | 429721 |
|  |  | 3933493 |
| HOUSEHOLD PRODUCTS - 0.3% |  |  |
| Quanex Building Products Corp. <sup>(b)</sup> | 13622 | 193705 |
| Spectrum Brands Holdings, Inc. | 6680 | 350900 |
|  |  | 544605 |
| INDUSTRIAL INTERMEDIATE PRODUCTS - 1.3% |  |  |
| AZZ, Inc. | 1430 | 156056 |
| Chart Industries, Inc. <sup>(a)(b)</sup> | 1180 | 236177 |
| Enpro, Inc. | 2030 | 458780 |
| Gibraltar Industries, Inc. <sup>(a)</sup> | 3300 | 207240 |
| Mueller Industries, Inc. | 2870 | 290185 |
| Proto Labs, Inc. <sup>(a)</sup> | 4100 | 205123 |
| RBC Bearings, Inc. <sup>(a)</sup> | 990 | 386387 |
| Standex International Corp. | 2030 | 430157 |
| Timken Co. (The) | 3660 | 275159 |
|  |  | 2645264 |
| INDUSTRIAL SUPPORT SERVICES - 1.5% |  |  |
| Applied Industrial Technologies, Inc. | 740 | 193177 |
| Core & Main, Inc. - Class A <sup>(a)(b)</sup> | 3633 | 195564 |
| MSC Industrial Direct Co., Inc. - Class A | 5310 | 489264 |
| RB Global, Inc. <sup>(b)</sup> | 4950 | 536382 |
| Resideo Technologies, Inc. <sup>(a)</sup> | 8730 | 376961 |
| SiteOne Landscape Supply, Inc. <sup>(a)</sup> | 1490 | 191912 |
| U-Haul Holding Co. | 2500 | 127250 |
| Vaxcyte, Inc. <sup>(a)</sup> | 3680 | 132554 |
| Watsco, Inc. | 1270 | 513461 |
| WESCO International, Inc. | 1450 | 306675 |
|  |  | 3063200 |
| INSTITUTIONAL FINANCIAL SERVICES - 1.1% |  |  |
| Evercore, Inc. - Class A | 880 | 296842 |
| Moelis & Co. - Class A | 5190 | 370151 |
| Piper Sandler Cos. | 1920 | 666221 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Small Cap Index Fund**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| INSTITUTIONAL FINANCIAL SERVICES - 1.1% (Continued) |  |  |
| PJT Partners, Inc. - Class A <sup>(b)</sup> | 2170 | $385674 |
| SEI Investments Co. | 2730 | 231640 |
| Virtu Financial, Inc. - Class A | 6270 | 222585 |
|  |  | 2173113 |
| INSURANCE - 3.5% |  |  |
| American Financial Group, Inc. | 2080 | 303098 |
| Assurant, Inc. | 549 | 118913 |
| Assured Guaranty Ltd. | 3960 | 335214 |
| Equitable Holdings, Inc. | 9710 | 493074 |
| Erie Indemnity Co. - Class A | 670 | 213167 |
| Everest Group Ltd. | 1734 | 607299 |
| Genworth Financial, Inc. <sup>(a)</sup> | 40170 | 357513 |
| Globe Life, Inc. | 3370 | 481809 |
| Goosehead Insurance, Inc. - Class A <sup>(b)</sup> | 2502 | 186199 |
| Jackson Financial, Inc. - Class A | 5270 | 533482 |
| Kinsale Capital Group, Inc. | 570 | 242398 |
| Lincoln National Corp. | 6410 | 258515 |
| Mercury General Corp. | 4640 | 393379 |
| Old Republic International Corp. | 4070 | 172853 |
| Primerica, Inc. | 490 | 136019 |
| Radian Group, Inc. | 9290 | 336484 |
| Reinsurance Group of America, Inc. | 1830 | 351598 |
| Remitly Global, Inc. <sup>(a)</sup> | 11350 | 185005 |
| RenaissanceRe Holdings Ltd. | 805 | 204414 |
| Ryan Specialty Holdings, Inc. | 3590 | 202332 |
| Selective Insurance Group, Inc. | 1340 | 108634 |
| SiriusPoint Ltd. <sup>(a)</sup> | 10490 | 189764 |
| Unum Group | 4670 | 363233 |
| Voya Financial, Inc. | 2380 | 178024 |
|  |  | 6952420 |
| INTERNET MEDIA & SERVICES - 1.6% |  |  |
| CarGurus, Inc. <sup>(a)</sup> | 6170 | 229709 |
| Life360, Inc. <sup>(a)(b)</sup> | 1960 | 208348 |
| Lyft, Inc. - Class A <sup>(a)</sup> | 13280 | 292293 |
| Maplebear, Inc. <sup>(a)(b)</sup> | 4500 | 165420 |
| Match Group, Inc. | 7640 | 269845 |
| Reddit, Inc. - Class A <sup>(a)</sup> | 3170 | 729068 |
| Roku Inc. <sup>(a)</sup> | 4390 | 439571 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Small Cap Index Fund**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| INTERNET MEDIA & SERVICES - 1.6% (Continued) |  |  |
| Snap, Inc. - Class A <sup>(a)</sup> | 25580 | $197222 |
| Yelp, Inc. <sup>(a)</sup> | 4050 | 126360 |
| Zillow Group, Inc. - Class C <sup>(a)</sup> | 5670 | 436873 |
|  |  | 3094709 |
| LEISURE FACILITIES & SERVICES - 2.1% |  |  |
| Brinker International, Inc. <sup>(a)</sup> | 2500 | 316700 |
| Cheesecake Factory, Inc. (The) <sup>(b)</sup> | 5550 | 303252 |
| Cinemark Holdings, Inc. | 6630 | 185772 |
| Dave & Buster's Entertainment, Inc. <sup>(a)</sup> | 5280 | 95885 |
| Domino's Pizza, Inc. | 914 | 394583 |
| Dutch Bros, Inc. - Class A <sup>(a)</sup> | 3370 | 176386 |
| Hyatt Hotels Corp. - Class A | 1030 | 146188 |
| Joby Aviation, Inc. <sup>(a)</sup> | 17450 | 281643 |
| Norwegian Cruise Line Holdings Ltd. <sup>(a)</sup> | 10190 | 250980 |
| Planet Fitness, Inc. - Class A <sup>(a)</sup> | 2430 | 252234 |
| Rocket Lab Corp. <sup>(a)</sup> | 11230 | 538029 |
| Shake Shack, Inc. - Class A <sup>(a)</sup> | 3960 | 370696 |
| Six Flags Entertainment Corp. <sup>(a)</sup> | 9265 | 210501 |
| Texas Roadhouse, Inc. | 1710 | 284116 |
| Vail Resorts, Inc. <sup>(b)</sup> | 1270 | 189954 |
| Wingstop, Inc. <sup>(b)</sup> | 917 | 230790 |
|  |  | 4227709 |
| LEISURE PRODUCTS - 0.7% |  |  |
| Acushnet Holdings Corp. <sup>(b)</sup> | 4230 | 332013 |
| Brunswick Corp. <sup>(b)</sup> | 2580 | 163159 |
| Hasbro, Inc. | 5420 | 411107 |
| LCI Industries | 2340 | 217971 |
| Thor Industries, Inc. <sup>(b)</sup> | 1390 | 144129 |
| YETI Holdings, Inc. <sup>(a)</sup> | 3930 | 130397 |
|  |  | 1398776 |
| MACHINERY - 3.7% |  |  |
| AGCO Corp. | 2520 | 269816 |
| CNH Industrial N.V. | 20301 | 220266 |
| Crane Co. | 1040 | 191506 |
| Donaldson Co., Inc. | 2480 | 202988 |
| Enerpac Tool Group Corp. | 11030 | 452230 |
| ESAB Corp. | 1273 | 142245 |
| ESCO Technologies, Inc. | 2330 | 491886 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Small Cap Index Fund**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| MACHINERY - 3.7% (Continued) |  |  |
| Federal Signal Corp. | 4740 | $564013 |
| Flowco Holdings, Inc. - Class A | 11640 | 172854 |
| Flowserve Corp. | 3160 | 167922 |
| Franklin Electric Co., Inc. | 6300 | 599760 |
| Gates Industrial Corp. plc <sup>(a)</sup> | 13160 | 326631 |
| Graco, Inc. | 4161 | 353519 |
| Hillenbrand, Inc. | 4920 | 133037 |
| IDEX Corp. | 2700 | 439452 |
| JBT Marel Corp. | 3075 | 431884 |
| Lincoln Electric Holdings, Inc. | 1740 | 410344 |
| Lindsay Corp. | 970 | 136343 |
| Middleby Corp. (The) <sup>(a)</sup> | 1480 | 196736 |
| MSA Safety, Inc. | 660 | 113566 |
| Nordson Corp. | 2090 | 474326 |
| Stanley Black & Decker, Inc. | 4540 | 337458 |
| Tennant Co. | 2040 | 165362 |
| Toro Co. (The) | 2600 | 198120 |
| Zurn Elkay Water Solutions Corp. | 3490 | 164135 |
|  |  | 7356399 |
| MEDICAL EQUIPMENT & DEVICES - 4.1% |  |  |
| Align Technology, Inc. <sup>(a)</sup> | 2220 | 277988 |
| Avantor, Inc. <sup>(a)</sup> | 18410 | 229757 |
| Baxter International, Inc. | 21180 | 482269 |
| Bio-Rad Laboratories, Inc. - Class A <sup>(a)</sup> | 540 | 151411 |
| Bio-Techne Corp. | 4350 | 241990 |
| Bruker Corp. | 4280 | 139057 |
| Cooper Cos., Inc. (The) <sup>(a)</sup> | 6454 | 442486 |
| DENTSPLY SIRONA, Inc. | 12220 | 155072 |
| Exact Sciences Corp. <sup>(a)</sup> | 5540 | 303093 |
| Glaukos Corp. <sup>(a)</sup> | 3820 | 311521 |
| Globus Medical, Inc. - Class A <sup>(a)</sup> | 2470 | 141457 |
| Hologic, Inc. <sup>(a)</sup> | 9530 | 643180 |
| Illumina, Inc. <sup>(a)</sup> | 4150 | 394125 |
| Inspire Medical Systems, Inc. <sup>(a)</sup> | 1140 | 84588 |
| Insulet Corp. <sup>(a)</sup> | 890 | 274770 |
| Integer Holdings Corp. <sup>(a)</sup> | 3090 | 319290 |
| iRhythm Technologies, Inc. <sup>(a)</sup> | 2590 | 445454 |
| Lantheus Holdings, Inc. <sup>(a)</sup> | 3181 | 163153 |

---

**Schedule of Portfolio Investments (Continued)**

**Praxis Small Cap Index Fund** 

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| MEDICAL EQUIPMENT & DEVICES - 4.1% (Continued) |  |  |
| Masimo Corp. <sup>(a)</sup> | 1170 | $172633 |
| Merit Medical Systems, Inc. <sup>(a)</sup> | 5690 | 473579 |
| Natera, Inc. <sup>(a)</sup> | 3620 | 582711 |
| Penumbra, Inc. <sup>(a)</sup> | 1280 | 324250 |
| QuantumScape Corp. <sup>(a)</sup> | 12619 | 155466 |
| Repligen Corp. <sup>(a)</sup> | 1290 | 172434 |
| Revvity, Inc. | 3050 | 267333 |
| Solventum Corp. <sup>(a)</sup> | 4610 | 336530 |
| Tandem Diabetes Care, Inc. <sup>(a)(b)</sup> | 12376 | 150245 |
| Teleflex, Inc. | 1750 | 214130 |
| TransMedics Group, Inc. <sup>(a)(b)</sup> | 1350 | 151470 |
|  |  | 8201442 |
| METALS & MINING - 1.0% |  |  |
| Alcoa Corp. <sup>(b)</sup> | 8020 | 263778 |
| Century Aluminum Co. <sup>(a)(b)</sup> | 7750 | 227540 |
| Coeur Mining, Inc. <sup>(a)</sup> | 21730 | 407655 |
| MP Materials Corp. <sup>(a)</sup> | 7590 | 509061 |
| Royal Gold, Inc. | 1920 | 385114 |
| Rubrik Inc. - Class A <sup>(a)</sup> | 2321 | 190902 |
|  |  | 1984050 |
| OIL & GAS PRODUCERS - 2.1% |  |  |
| Antero Midstream Corp. | 20530 | 399103 |
| Antero Resources Corp. <sup>(a)</sup> | 10410 | 349360 |
| California Resources Corp. | 3720 | 197830 |
| Civitas Resources, Inc. | 6924 | 225030 |
| CNX Resources Corp. <sup>(a)(b)</sup> | 4050 | 130086 |
| EQT Corp. | 11550 | 628666 |
| Expand Energy Corp. | 6486 | 689073 |
| Kinetik Holdings, Inc. <sup>(b)</sup> | 4173 | 178354 |
| Murphy Oil Corp. | 12700 | 360807 |
| Ovintiv, Inc. | 14440 | 583087 |
| SM Energy Co. | 8290 | 207001 |
| Viper Energy, Inc. - Class A | 4930 | 188425 |
|  |  | 4136822 |
| OIL & GAS SERVICES & EQUIPMENT - 0.1% |  |  |
| Weatherford International plc | 2912 | 199268 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis Small Cap Index Fund***

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| PUBLISHING & BROADCASTING - 0.9% |  |  |
| Liberty Media Corp. - Liberty Formula One - Series C <sup>(a)</sup> | 9701 | $1013269 |
| New York Times Co. (The) - Class A | 3410 | 195734 |
| Nexstar Media Group, Inc. | 740 | 146328 |
| TKO Group Holdings, Inc. | 2490 | 502880 |
|  |  | 1858211 |
| REAL ESTATE OWNERS & DEVELOPERS - 0.2% |  |  |
| McGrath RentCorp | 3400 | 398820 |
| REAL ESTATE SERVICES - 0.4% |  |  |
| AGNC Investment Corp. <sup>(b)</sup> | 33700 | 329923 |
| Jones Lang LaSalle, Inc. <sup>(a)</sup> | 1210 | 360919 |
| Marcus & Millichap, Inc. | 3070 | 90104 |
|  |  | 780946 |
| REITS - 5.8% |  |  |
| Acadia Realty Trust | 8150 | 164223 |
| Agree Realty Corp. | 2580 | 183283 |
| Alexander & Baldwin, Inc. | 7290 | 132605 |
| Alexandria Real Estate Equities, Inc. | 9540 | 795064 |
| American Homes 4 Rent - Class A | 8640 | 287280 |
| Americold Realty Trust, Inc. | 11170 | 136721 |
| Brixmor Property Group, Inc. | 8430 | 233342 |
| BXP, Inc. <sup>(b)</sup> | 4690 | 348655 |
| Camden Property Trust | 1553 | 165829 |
| CareTrust REIT, Inc. | 12330 | 427604 |
| CubeSmart | 4334 | 176220 |
| DiamondRock Hospitality Co. | 14240 | 113350 |
| Douglas Emmett, Inc. | 15660 | 243826 |
| EastGroup Properties, Inc. <sup>(b)</sup> | 1030 | 174338 |
| Elme Communities | 9070 | 152920 |
| EPR Properties | 3010 | 174610 |
| Essential Properties Realty Trust, Inc. | 7790 | 231830 |
| Federal Realty Investment Trust | 1376 | 139403 |
| Franklin BSP Realty Trust, Inc. | 9042 | 98196 |
| Healthpeak Properties, Inc. | 20384 | 390354 |
| Highwoods Properties, Inc. | 11470 | 364975 |
| Host Hotels & Resorts, Inc. | 23450 | 399119 |
| Kimco Realty Corp. | 19170 | 418865 |
| Lamar Advertising Co. - Class A | 2770 | 339103 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis Small Cap Index Fund***

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| REITS - 5.8% (Continued) |  |  |
| Lineage, Inc. <sup>(b)</sup> | 4360 | $168470 |
| Macerich Co. (The) | 11680 | 212576 |
| NNN REIT, Inc. | 5050 | 214979 |
| Omega Healthcare Investors, Inc. <sup>(b)</sup> | 8620 | 363936 |
| Rayonier, Inc. | 10477 | 278060 |
| Regency Centers Corp. | 2640 | 192456 |
| Rexford Industrial Realty, Inc. <sup>(b)</sup> | 20460 | 841111 |
| Ryman Hospitality Properties, Inc. | 1690 | 151407 |
| Sabra Health Care REIT, Inc. <sup>(b)</sup> | 6980 | 130107 |
| SL Green Realty Corp. | 6310 | 377401 |
| Sun Communities, Inc. | 4437 | 572373 |
| Sunstone Hotel Investors, Inc. | 12940 | 121248 |
| Tanger, Inc. | 10710 | 362426 |
| Texas Pacific Land Corp. | 270 | 252083 |
| UDR, Inc. | 7223 | 269129 |
| Urban Edge Properties | 9260 | 189552 |
| Vornado Realty Trust | 4650 | 188465 |
| W.P. Carey, Inc. | 4480 | 302714 |
|  |  | 11480208 |
| RENEWABLE ENERGY - 0.5% |  |  |
| Array Technologies, Inc. <sup>(a)</sup> | 22840 | 186146 |
| Enphase Energy, Inc. <sup>(a)</sup> | 4910 | 173765 |
| First Solar, Inc. <sup>(a)</sup> | 1970 | 434444 |
| Sunrun, Inc. <sup>(a)(b)</sup> | 8926 | 154330 |
|  |  | 948685 |
| RETAIL - CONSUMER STAPLES - 1.6% |  |  |
| Albertsons Cos., Inc. - Class A | 12320 | 215723 |
| BJ's Wholesale Club Holdings, Inc. <sup>(a)</sup> | 3100 | 289075 |
| Casey's General Stores, Inc. | 830 | 469216 |
| Five Below, Inc. <sup>(a)</sup> | 2170 | 335699 |
| Grocery Outlet Holding Corp. <sup>(a)</sup> | 11027 | 176983 |
| Hims & Hers Health, Inc. <sup>(a)(b)</sup> | 6810 | 386263 |
| Murphy USA, Inc. <sup>(b)</sup> | 1600 | 621216 |
| Ollie's Bargain Outlet Holdings, Inc. <sup>(a)</sup> | 1450 | 186180 |
| PriceSmart, Inc. | 1550 | 187845 |
| Sprouts Farmers Market, Inc. <sup>(a)</sup> | 2350 | 255680 |
|  |  | 3123880 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis Small Cap Index Fund***

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| RETAIL - DISCRETIONARY - 3.4% |  |  |
| Advance Auto Parts, Inc. | 4870 | $299018 |
| American Eagle Outfitters, Inc. | 9550 | 163400 |
| Asbury Automotive Group, Inc. <sup>(a)</sup> | 1750 | 427787 |
| AutoNation, Inc. <sup>(a)</sup> | 710 | 155327 |
| Bath & Body Works, Inc. | 6710 | 172850 |
| Best Buy Co., Inc. | 4893 | 370009 |
| Boot Barn Holdings, Inc. <sup>(a)</sup> | 2330 | 386128 |
| Buckle, Inc. (The) | 5380 | 315591 |
| Builders FirstSource, Inc. <sup>(a)</sup> | 2510 | 304338 |
| CarMax, Inc. <sup>(a)</sup> | 4800 | 215376 |
| CAVA Group, Inc. <sup>(a)</sup> | 3190 | 192708 |
| Dick's Sporting Goods, Inc. | 1530 | 339997 |
| Floor & Decor Holdings, Inc. - Class A <sup>(a)</sup> | 3070 | 226259 |
| GameStop Corp. - Class A <sup>(a)(b)</sup> | 11310 | 308537 |
| Gap, Inc. (The) | 7270 | 155505 |
| Group 1 Automotive, Inc. | 1120 | 490011 |
| La-Z-Boy, Inc. | 4470 | 153410 |
| Lithia Motors, Inc. | 650 | 205400 |
| Macy's, Inc. | 9981 | 178959 |
| RH <sup>(a)</sup> | 1164 | 236478 |
| Signet Jewelers Ltd. <sup>(b)</sup> | 1700 | 163064 |
| Urban Outfitters, Inc. <sup>(a)</sup> | 7160 | 511439 |
| Victoria's Secret & Co. <sup>(a)</sup> | 5737 | 155702 |
| Williams-Sonoma, Inc. | 3500 | 684075 |
|  |  | 6811368 |
| SEMICONDUCTORS - 2.9% |  |  |
| Allegro MicroSystems, Inc. <sup>(a)</sup> | 6590 | 192428 |
| Astera Labs, Inc. <sup>(a)</sup> | 3911 | 765774 |
| Axcelis Technologies, Inc. <sup>(a)</sup> | 4880 | 476483 |
| Diodes, Inc. <sup>(a)</sup> | 5940 | 316067 |
| Entegris, Inc. | 3490 | 322685 |
| FormFactor, Inc. <sup>(a)</sup> | 10210 | 371848 |
| Impinj, Inc. <sup>(a)</sup> | 1170 | 211478 |
| Lattice Semiconductor Corp. <sup>(a)</sup> | 3130 | 229492 |
| MACOM Technology Solutions Holdings, Inc. <sup>(a)</sup> | 1550 | 192960 |
| MKS, Inc. | 2100 | 259917 |
| Onto Innovation, Inc. <sup>(a)</sup> | 1560 | 201583 |
| Qorvo, Inc. <sup>(a)</sup> | 4430 | 403484 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis Small Cap Index Fund***

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| SEMICONDUCTORS - 2.9% (Continued) |  |  |
| Rambus, Inc. <sup>(a)(b)</sup> | 2590 | $269878 |
| Semtech Corp. <sup>(a)</sup> | 3970 | 283657 |
| SiTime Corp. <sup>(a)</sup> | 950 | 286245 |
| Skyworks Solutions, Inc. | 5780 | 444944 |
| Teradyne, Inc. | 2960 | 407414 |
| Veeco Instruments, Inc. <sup>(a)</sup> | 7960 | 242223 |
|  |  | 5878560 |
| SOFTWARE - 6.6% |  |  |
| ACI Worldwide, Inc. <sup>(a)</sup> | 4180 | 220579 |
| Adeia, Inc. | 13401 | 225137 |
| Affirm Holdings, Inc. <sup>(a)(b)</sup> | 7230 | 528368 |
| Akamai Technologies, Inc. <sup>(a)</sup> | 4260 | 322738 |
| Appfolio, Inc. - Class A <sup>(a)</sup> | 520 | 143343 |
| Bentley Systems, Inc. - Class B | 2370 | 122008 |
| BILL Holdings, Inc. <sup>(a)</sup> | 4270 | 226182 |
| BlackLine, Inc. <sup>(a)(b)</sup> | 3290 | 174699 |
| Box, Inc. - Class A <sup>(a)</sup> | 6690 | 215886 |
| C3.ai, Inc. - Class A <sup>(a)</sup> | 9791 | 169776 |
| Calix, Inc. <sup>(a)</sup> | 4210 | 258368 |
| CCC Intelligent Solutions Holdings, Inc. <sup>(a)</sup> | 11410 | 103945 |
| Circle Internet Group, Inc. <sup>(a)(b)</sup> | 1350 | 178983 |
| Clearwater Analytics Holdings, Inc. - Class A <sup>(a)</sup> | 5880 | 105958 |
| Confluent, Inc. - Class A <sup>(a)</sup> | 9080 | 179784 |
| Dayforce, Inc. <sup>(a)</sup> | 3310 | 228026 |
| DocuSign, Inc. <sup>(a)</sup> | 5800 | 418122 |
| Doximity, Inc. - Class A <sup>(a)</sup> | 2740 | 200431 |
| Dropbox, Inc. - Class A <sup>(a)</sup> | 5760 | 174010 |
| Duolingo, Inc. <sup>(a)</sup> | 753 | 242346 |
| D-Wave Quantum, Inc. <sup>(a)(b)</sup> | 9189 | 227060 |
| Dynatrace, Inc. <sup>(a)</sup> | 6561 | 317880 |
| Galaxy Digital, Inc. - Class A <sup>(a)</sup> | 4790 | 161950 |
| Guidewire Software, Inc. <sup>(a)</sup> | 1850 | 425241 |
| Informatica, Inc. - Class A <sup>(a)</sup> | 12520 | 310997 |
| IonQ, Inc. <sup>(a)(b)</sup> | 6980 | 429270 |
| Manhattan Associates, Inc. <sup>(a)</sup> | 2650 | 543197 |
| Nutanix, Inc. - Class A <sup>(a)</sup> | 7370 | 548254 |
| OKTA, Inc. <sup>(a)</sup> | 3549 | 325443 |
| OneStream, Inc. <sup>(a)</sup> | 9596 | 176854 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis Small Cap Index Fund***

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| SOFTWARE - 6.6% (Continued) |  |  |
| Paycom Software, Inc. | 1530 | $318454 |
| Paylocity Holding Corp. <sup>(a)</sup> | 1160 | 184753 |
| Privia Health Group, Inc. <sup>(a)</sup> | 7680 | 191232 |
| Progress Software Corp. <sup>(a)</sup> | 6410 | 281591 |
| PTC, Inc. <sup>(a)</sup> | 3560 | 722751 |
| Q2 Holdings, Inc. <sup>(a)</sup> | 3436 | 248732 |
| Samsara, Inc. - Class A <sup>(a)</sup> | 6920 | 257770 |
| SentinelOne, Inc. - Class A <sup>(a)</sup> | 6680 | 117635 |
| SoundHound AI, Inc. - Class A <sup>(a)</sup> | 10680 | 171734 |
| SPS Commerce, Inc. <sup>(a)</sup> | 4400 | 458216 |
| Tempus AI, Inc. <sup>(a)</sup> | 4000 | 322840 |
| Tenable Holdings, Inc. <sup>(a)</sup> | 9808 | 286001 |
| Twilio, Inc. - Class A <sup>(a)</sup> | 3392 | 339505 |
| Unity Software, Inc. <sup>(a)</sup> | 11790 | 472072 |
| Upstart Holdings, Inc. <sup>(a)</sup> | 2770 | 140716 |
| Varonis Systems, Inc. <sup>(a)</sup> | 3110 | 178732 |
| Verra Mobility Corp. - Class A <sup>(a)</sup> | 12180 | 300846 |
| Workiva, Inc. <sup>(a)(b)</sup> | 1450 | 124816 |
| Zeta Global Holdings Corp. - Class A <sup>(a)</sup> | 8390 | 166709 |
|  |  | 13189940 |
| SPECIALTY FINANCE - 2.7% |  |  |
| Air Lease Corp. | 3330 | 211954 |
| Ally Financial, Inc. | 8260 | 323792 |
| Annaly Capital Management, Inc. | 18290 | 369641 |
| Blackstone Mortgage Trust, Inc. - Class A | 5246 | 96579 |
| Bread Financial Holdings, Inc. | 2910 | 162291 |
| Encore Capital Group, Inc. <sup>(a)</sup> | 3150 | 131481 |
| Essent Group Ltd. | 2930 | 186231 |
| Fidelity National Financial, Inc. | 2920 | 176631 |
| First American Financial Corp. | 2340 | 150321 |
| FTAI Aviation Ltd. | 4090 | 682457 |
| MGIC Investment Corp. | 4340 | 123126 |
| Mr. Cooper Group, Inc. | 4110 | 866347 |
| OneMain Holdings, Inc. | 3410 | 192529 |
| QXO, Inc. <sup>(a)</sup> | 19298 | 367820 |
| SoFi Technologies, Inc. <sup>(a)</sup> | 30382 | 802692 |
| Starwood Property Trust, Inc. <sup>(b)</sup> | 10140 | 196412 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis Small Cap Index Fund***

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| SPECIALTY FINANCE - 2.7% (Continued) |  |  |
| Walker & Dunlop, Inc. | 4120 | $344514 |
|  |  | 5384818 |
| STEEL - 1.0% |  |  |
| ATI, Inc. <sup>(a)</sup> | 8120 | 660481 |
| Carpenter Technology Corp. | 2460 | 604028 |
| Reliance, Inc. | 1560 | 438095 |
| Steel Dynamics, Inc. <sup>(b)</sup> | 1890 | 263523 |
|  |  | 1966127 |
| TECHNOLOGY HARDWARE - 4.3% |  |  |
| Aurora Innovation, Inc. <sup>(a)</sup> | 46140 | 248695 |
| Benchmark Electronics, Inc. | 4010 | 154585 |
| Ciena Corp. <sup>(a)</sup> | 2540 | 370002 |
| Credo Technology Group Holding Ltd. <sup>(a)</sup> | 5837 | 849926 |
| Extreme Networks, Inc. <sup>(a)</sup> | 8710 | 179861 |
| F5, Inc. <sup>(a)</sup> | 1470 | 475089 |
| Fabrinet <sup>(a)</sup> | 920 | 335450 |
| InterDigital, Inc. <sup>(b)</sup> | 2400 | 828552 |
| Jabil, Inc. | 2560 | 555955 |
| JFrog Ltd. <sup>(a)</sup> | 4100 | 194053 |
| Knowles Corp. <sup>(a)</sup> | 9450 | 220280 |
| Lumentum Holdings, Inc. <sup>(a)(b)</sup> | 1890 | 307522 |
| Pitney Bowes, Inc. | 13600 | 155176 |
| Plexus Corp. <sup>(a)</sup> | 4250 | 614933 |
| Pure Storage, Inc. - Class A <sup>(a)</sup> | 9020 | 755966 |
| Sandisk Corp. <sup>(a)</sup> | 4750 | 532950 |
| Sanmina Corp. <sup>(a)</sup> | 7940 | 913973 |
| TD SYNNEX Corp. | 1680 | 275100 |
| Zebra Technologies Corp. - Class A <sup>(a)</sup> | 1894 | 562821 |
|  |  | 8530889 |
| TECHNOLOGY SERVICES - 1.5% |  |  |
| CSG Systems International, Inc. | 3400 | 218892 |
| DXC Technology Co. <sup>(a)</sup> | 16901 | 230361 |
| EVERTEC, Inc. | 7140 | 241189 |
| HealthEquity, Inc. <sup>(a)</sup> | 2430 | 230291 |
| Insight Enterprises, Inc. <sup>(a)</sup> | 2670 | 302805 |
| Kyndryl Holdings, Inc. <sup>(a)</sup> | 6150 | 184684 |
| LiveRamp Holdings, Inc. <sup>(a)</sup> | 5760 | 156326 |
| MarketAxess Holdings, Inc. | 670 | 116748 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis Small Cap Index Fund***

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| TECHNOLOGY SERVICES - 1.5% (Continued) |  |  |
| Maximus, Inc. | 1860 | $169948 |
| Morningstar, Inc. | 700 | 162407 |
| Payoneer Global, Inc. <sup>(a)</sup> | 20400 | 123420 |
| Sabre Corp. <sup>(a)</sup> | 99778 | 182594 |
| Shift4 Payments, Inc. - Class A <sup>(a)(b)</sup> | 1530 | 118422 |
| Toast, Inc. - Class A <sup>(a)</sup> | 13080 | 477551 |
|  |  | 2915638 |
| TELECOMMUNICATIONS - 0.6% |  |  |
| AST SpaceMobile, Inc. <sup>(a)(b)</sup> | 4430 | 217425 |
| Cogent Communications Holdings, Inc. | 2960 | 113516 |
| EchoStar Corp. - Class A <sup>(a)(b)</sup> | 3448 | 263289 |
| Frontier Communications Parent, Inc. <sup>(a)</sup> | 7510 | 280499 |
| Lumen Technologies, Inc. <sup>(a)</sup> | 34620 | 211874 |
| Telephone and Data Systems, Inc. | 4660 | 182858 |
|  |  | 1269461 |
| TRANSPORTATION & LOGISTICS - 1.7% |  |  |
| Alaska Air Group, Inc. <sup>(a)</sup> | 6880 | 342486 |
| American Airlines Group, Inc. <sup>(a)</sup> | 24660 | 277178 |
| ArcBest Corp. | 4470 | 312319 |
| C.H. Robinson Worldwide, Inc. | 2780 | 368072 |
| GXO Logistics, Inc. <sup>(a)</sup> | 5310 | 280846 |
| Hub Group, Inc. - Class A | 6960 | 239702 |
| J.B. Hunt Transport Services, Inc. | 1082 | 145172 |
| Matson, Inc. | 3020 | 297742 |
| RXO, Inc. <sup>(a)</sup> | 2531 | 38927 |
| Ryder System, Inc. | 1040 | 196186 |
| Saia, Inc. <sup>(a)</sup> | 700 | 209552 |
| SkyWest, Inc. <sup>(a)</sup> | 2870 | 288779 |
| XPO, Inc. <sup>(a)(b)</sup> | 3010 | 389103 |
|  |  | 3386064 |
| TRANSPORTATION EQUIPMENT - 0.2% |  |  |
| Greenbrier Cos., Inc. (The) | 3650 | 168520 |
| Trinity Industries, Inc. | 6450 | 180858 |
|  |  | 349378 |
| WHOLESALE - CONSUMER STAPLES - 0.8% |  |  |
| Andersons, Inc. (The) | 9150 | 364262 |
| Bunge Global S.A. | 6321 | 513581 |
| United Natural Foods, Inc. <sup>(a)</sup> | 5990 | 225344 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis Small Cap Index Fund***

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.6% (Continued)** | **Shares** | **Fair Value** |
| WHOLESALE - CONSUMER STAPLES - 0.8% (Continued) |  |  |
| US Foods Holding Corp. <sup>(a)</sup> | 6670 | $511055 |
|  |  | 1614242 |
| WHOLESALE - DISCRETIONARY - 0.6% |  |  |
| Aramark | 7620 | 292608 |
| G-III Apparel Group Ltd. <sup>(a)</sup> | 4620 | 122938 |
| OPENLANE, Inc. <sup>(a)</sup> | 8420 | 242328 |
| Pool Corp. | 1061 | 328984 |
| ScanSource, Inc. <sup>(a)</sup> | 4950 | 217751 |
|  |  | 1204609 |
| **TOTAL COMMON STOCKS** (COST $150,533,863) |  | $196578809 |

---

---

| | | |
|:---|:---|:---|
| **RIGHTS - 0.0% <sup>(c)</sup>** | **Shares** | **Fair Value** |
| ASSET MANAGEMENT - 0.0% <sup>(c)</sup> |  |  |
| Sycamore Partners, LLC <sup>(a)(d)(e)</sup> | 44730 | $23707 |
| BIOTECH & PHARMA - 0.0% <sup>(c)</sup> |  |  |
| Blueprint Medicines Corp. <sup>(a)(d)(e)</sup> | 2090 | 961 |
| MEDICAL EQUIPMENT & DEVICES - 0.0% <sup>(c)</sup> |  |  |
| OmniAb, Inc. <sup>(a)(d)(e)</sup> | 2092 | 449 |
| **TOTAL RIGHTS** (COST $0) |  | $25117 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis Small Cap Index Fund***

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CORPORATE NOTES - 0.8%** | **Coupon** | **Maturity** | **Principal Amount** | **Fair Value** |
| COMMUNITY DEVELOPMENT - 0.8% |  |  |  |  |
| Calvert Impact Capital, Inc. <sup>(e)</sup> | 2.500% | 12/15/25 | $280000 | $278147 |
| Calvert Impact Capital, Inc. <sup>(e)</sup> | 4.000% | 06/15/28 | 180000 | 173518 |
| Calvert Impact Capital, Inc. <sup>(e)</sup> | 5.000% | 12/15/28 | 220000 | 216892 |
| Calvert Impact Capital, Inc. <sup>(e)</sup> | 5.000% | 06/15/29 | 200000 | 195140 |
| Calvert Impact Capital, Inc. <sup>(e)</sup> | 4.500% | 12/14/29 | 170000 | 163489 |
| Calvert Impact Capital, Inc. <sup>(e)</sup> | 4.500% | 06/14/30 | 110000 | 104219 |
| Capital Impact Partners Investment <sup>(e)</sup> | 4.500% | 12/15/25 | 170000 | 170148 |
| Capital Impact Partners Investment <sup>(e)</sup> | 4.500% | 06/15/26 | 110000 | 110326 |
| Capital Impact Partners Investment <sup>(e)</sup> | 5.000% | 12/15/26 | 200000 | 201370 |
| **TOTAL CORPORATE NOTES** (COST $1,640,000) |  |  |  | $1613249 |

---

---

| | | |
|:---|:---|:---|
| **MONEY MARKET FUNDS - 0.5%** | **Shares** | **Fair Value** |
| First American Government Obligations Fund - Class X, 4.05% <sup>(f)</sup> (COST $920,165) | 920165 | $920165 |

---

**Schedule of Portfolio Investments (Continued)**

***Praxis Small Cap Index Fund***

---

| | | |
|:---|:---|:---|
| **INVESTMENT PURCHASED WITH THE CASH PROCEEDS FROM SECURITIES LENDING - 10.5%** | **Shares** | **Fair Value** |
| Mount Vernon Liquid Assets Portfolio, LLC, 4.22% <sup>(f)(g)</sup> (COST $20,889,577) | 20889577 | $20889577 |
| **TOTAL INVESTMENTS -** (COST $173,983,605) **- 110.4%** |  | $220026917 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS - (10.4%)** |  | (20709900) |
| **NET ASSETS - 100.0%** |  | $199317017 |

---

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> All or a portion of the security is on loan. The total fair value of the securities on loan as of September 30, 2025 was $19,500,070.

<sup>(c)</sup> Percentage rounds to less than 0.1%.

<sup>(d)</sup> Security value has been determined in good faith pursuant to procedures adopted by the Board of Trustees. The total value of such securities was $25,117 as of September 30, 2025, representing 0.0% <sup>(c)</sup> of net assets.

<sup>(e)</sup> Illiquid securities are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition<br> Date | Current<br> Cost | Fair<br> Value | % of Net<br> Assets |
| Blueprint Medicines Corp. | 07/21/25 | $– | $961 | 0.0 %<sup>(c)</sup> |
| Calvert Impact Capital, Inc., 2.500%, 12/15/25 | 12/15/20 | 280000 | 278147 | 0.1% |
| Calvert Impact Capital, Inc., 4.000%, 06/15/28 | 06/15/23 | 180000 | 173518 | 0.1% |
| Calvert Impact Capital, Inc., 5.000%, 12/15/28 | 12/15/23 | 220000 | 216892 | 0.1% |
| Calvert Impact Capital, Inc., 5.000%, 06/15/29 | 06/14/24 | 200000 | 195140 | 0.1% |
| Calvert Impact Capital, Inc., 4.500%, 12/14/29 | 12/13/24 | 170000 | 163489 | 0.1% |
| Calvert Impact Capital, Inc., 4.500%, 06/14/30 | 06/13/25 | 110000 | 104219 | 0.0 %<sup>(c)</sup> |
| Capital Impact Partners Investment, 4.500%, 12/15/25 | 12/15/25 | 170000 | 170148 | 0.1% |
| Capital Impact Partners Investment, 4.500%, 06/15/26 | 06/17/25 | 110000 | 110326 | 0.1% |
| Capital Impact Partners Investment, 5.000%, 12/15/26 | 12/15/23 | 200000 | 201370 | 0.1% |
| OmniAb, Inc. | 11/02/22 |  | 449 | 0.0 %<sup>(c)</sup> |
| Sycamore Partners, LLC | 08/28/25 | – | 23707 | 0.0 %<sup>(c)</sup> |
|  |  | $1640000 | $1638366 | 0.8% |

---

<sup>(f)</sup> The rate shown is the 7-day effective yield as of September 30, 2025. <br> <sup>(g)</sup> The security was purchased with cash collateral received from securities on loan. <br>

plc - Public Liability Company

REIT - Real Estate Investment Trust

**Schedule of Portfolio Investments**

***Praxis Genesis Conservative Portfolio***

***September 30, 2025 (Unaudited)***

---

| | | |
|:---|:---|:---|
| **AFFILIATED MUTUAL FUNDS - 99.9%** | **Shares** | **Fair Value** |
| DEBT FUND - 69.6% |  |  |
| Praxis Impact Bond Fund - Class I | 1811429 | $17244808 |
| EQUITY FUND - 30.3% |  |  |
| Praxis Growth Index Fund - Class I | 40579 | 2314650 |
| Praxis International Index Fund - Class I | 141628 | 2256132 |
| Praxis Small Cap Index Fund - Class I | 49394 | 623841 |
| Praxis Value Index Fund - Class I | 120082 | 2312770 |
|  |  | 7507393 |
| **TOTAL AFFILIATED MUTUAL FUNDS** (COST $20,752,834) |  | $24752201 |

---

---

| | | |
|:---|:---|:---|
| **MONEY MARKET FUNDS - 0.0% <sup>(a)</sup>** | **Shares** | **Fair Value** |
| First American Government Obligations Fund - Class X, 4.05% <sup>(b)</sup> (COST $7,049) | 7049 | $7049 |
| **TOTAL INVESTMENTS -** (COST $20,759,883) **- 99.9%** |  | $24759250 |
| **OTHER ASSETS IN EXCESS OF LIABILITIES - 0.1%** |  | 12655 |
| **NET ASSETS - 100.0%** |  | $24771905 |

---

<sup>(a)</sup> Percentage rounds to less than 0.1%.

<sup>(b)</sup> The rate shown is the 7-day effective yield as of September 30, 2025.

---

| | | |
|:---|:---|:---|
| **Schedule of Portfolio Investments** | **Schedule of Portfolio Investments** | **Schedule of Portfolio Investments** |
| ***Praxis Genesis Balanced Portfolio*** | ***Praxis Genesis Balanced Portfolio*** | ***Praxis Genesis Balanced Portfolio*** |
| ***September 30, 2025 (Unaudited)*** | ***September 30, 2025 (Unaudited)*** | ***September 30, 2025 (Unaudited)*** |
| **AFFILIATED MUTUAL FUNDS - 100.0%** | **Shares** | **Fair Value** |
| DEBT FUND - 39.6% |  |  |
| Praxis Impact Bond Fund - Class I | 4298972 | $40926211 |
| EQUITY FUND - 60.4% |  |  |
| Praxis Growth Index Fund - Class I | 291486 | 16626347 |
| Praxis International Index Fund - Class I | 1176375 | 18739654 |
| Praxis Small Cap Index Fund - Class I | 820367 | 10361234 |
| Praxis Value Index Fund - Class I | 862464 | 16611056 |
|  |  | 62338291 |
| **TOTAL AFFILIATED MUTUAL FUNDS** (COST $69,778,182) |  | $103264502 |

---

---

| | | |
|:---|:---|:---|
| **MONEY MARKET FUNDS - 0.0% <sup>(a)</sup>** | **Shares** | **Fair Value** |
| First American Government Obligations Fund - Class X, 4.05% <sup>(b)</sup> (COST $1,861) | 1861 | $1861 |
| **TOTAL INVESTMENTS -** (COST $69,780,043) **- 100.0%** |  | $103266363 |
| **OTHER ASSETS IN EXCESS OF LIABILITIES - 0.0% <sup>(a)</sup>** |  | 808 |
| **NET ASSETS - 100.0%** |  | $103267171 |

---

<sup>(a)</sup> Percentage rounds to less than 0.1%.

<sup>(b)</sup> The rate shown is the 7-day effective yield as of September 30, 2025.

**Schedule of Portfolio Investments**

***Praxis Genesis Growth Portfolio***

***September 30, 2025 (Unaudited)***

---

| | | |
|:---|:---|:---|
| **AFFILIATED MUTUAL FUNDS - 100.0%** | **Shares** | **Fair Value** |
| DEBT FUND - 19.8% |  |  |
| Praxis Impact Bond Fund - Class I | 2552840 | $24303038 |
| EQUITY FUND - 80.2% |  |  |
| Praxis Growth Index Fund - Class I | 443571 | 25301271 |
| Praxis International Index Fund - Class I | 1862625 | 29671613 |
| Praxis Small Cap Index Fund - Class I | 1461408 | 18457578 |
| Praxis Value Index Fund - Class I | 1312386 | 25276560 |
|  |  | 98707022 |
| **TOTAL AFFILIATED MUTUAL FUNDS** (COST $73,409,235) |  | $123010060 |

---

---

| | | |
|:---|:---|:---|
| **MONEY MARKET FUNDS - 0.0% <sup>(a)</sup>** | **Shares** | **Fair Value** |
| First American Government Obligations Fund - Class X, 4.05% <sup>(b)</sup> (COST $1,165) | 1165 | $1165 |
| **TOTAL INVESTMENTS -** (COST $73,410,400) **- 100.0%** |  | $123011225 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS - (0.0%) <sup>(a)</sup>** |  | (4702) |
| **NET ASSETS - 100.0%** |  | $123006523 |

---

<sup>(a)</sup> Percentage rounds to less than 0.1%.

<sup>(b)</sup> The rate shown is the 7-day effective yield as of September 30, 2025.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Praxis Mutual Funds

- **b. Investment Company Act file number:** 811-08056

- **c. CIK number of Registrant:** 0000912900

- **d. LEI of Registrant:** 5493000A2TZD2B7R2O62

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1110 N. Main Street

  - **City:** Goshen

  - **State:** IN

  - **Foreign country:** US

  - **Zip / Postal Code:** 46527

  - **Telephone number:** 800-977-2947

**Item A.2. Information about the Series.**

- **a. Name of Series:** PRAXIS GROWTH INDEX FUND

- **b. EDGAR series identifier (if any):** S000017266

- **c. LEI of Series:** 549300WAIVP1YOU1F372

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $735145776.72

**Total Liabilities:** $307733.43

**Net Assets:** $734838043.29

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000047795 | 3.51%                | 1.10%                | 5.22%                |
| Class ID C000047793 | -1.93%               | -4.25%               | -0.30%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $171403.38               | $23589315.67                               |
| Month 2  | $19.70                   | $7358369.25                                |
| Month 3  | $6009073.26              | $30639878.40                               |

### Schedule of Portfolio Investments

| Name                                      | Title                                                         | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Veeva Systems Inc                         | Veeva Systems, Inc. Class A                                   | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |      3783 | NS      | $1126993.53   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Ares Management Corporation               | Ares Management Corporation Class A                           | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Long             | EC               | CORP              | US        |      5856 | NS      | $936315.84    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Cloudflare Inc                            | Cloudflare, Inc. Class A                                      | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Long             | EC               | CORP              | US        |      9380 | NS      | $2012854.20   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| The TJX Companies Inc.                    | TJX Companies, Inc. (The)                                     | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |     25503 | NS      | $3686203.62   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Zscaler Inc                               | Zscaler, Inc.                                                 | CUSIP: 98980G102<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | EC               | CORP              | US        |      3130 | NS      | $937935.80    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Alnylam Pharmaceuticals Inc.              | Alnylam Pharmaceuticals, Inc.                                 | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |      2970 | NS      | $1354320.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Coinbase Global Inc                       | Coinbase Global Inc.                                          | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Long             | EC               | CORP              | US        |      4174 | NS      | $1408683.26   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Mckesson Corp.                            | McKesson Corporation                                          | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      1910 | NS      | $1475551.40   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc                          | Merck & Company, Inc.                                         | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |      7191 | NS      | $603540.63    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Keysight Technologies, Inc.               | Keysight Technologies, Inc.                                   | CUSIP: 49338L103<br>LEI: 549300GLKVIO8YRCYN02 | Long             | EC               | CORP              | US        |      3981 | NS      | $696356.52    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corporation             | Boston Scientific Corporation                                 | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |     29440 | NS      | $2874227.20   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Caribbean Group                     | Royal Caribbean Cruises Ltd.                                  | CUSIP: V7780T103<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | EC               | CORP              | US        |      4160 | NS      | $1346092.80   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc.                   | IDEXX Laboratories, Inc.                                      | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |      1700 | NS      | $1086113.00   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                           | T-Mobile USA, Inc.                                            | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      4420 | NS      | $1058059.60   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Godaddy Inc                               | GoDaddy, Inc.                                                 | CUSIP: 380237107<br>LEI: 549300J8H1TB0I2CB447 | Long             | EC               | CORP              | US        |      1434 | NS      | $196214.22    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co.                     | Colgate-Palmolive Company                                     | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |      8484 | NS      | $678210.96    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc                      | Booking Holdings, Inc.                                        | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       830 | NS      | $4481394.10   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| KeyCorp                                   | KeyCorp                                                       | CUSIP: 493267108<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EC               | CORP              | US        |      3997 | NS      | $74703.93     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc.                               | Zoetis, Inc.                                                  | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |      3580 | NS      | $523825.60    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI Inc.                                 | MSCI, Inc.                                                    | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |      1797 | NS      | $1019635.77   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| The Progressive Corporation               | Progressive Corporation (The)                                 | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |      5690 | NS      | $1405145.50   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Automatic Data Processing, Inc.           | Automatic Data Processing, Inc.                               | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      6480 | NS      | $1901880.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| MasterCard Incorporated                   | Mastercard, Inc. Class A                                      | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     17176 | NS      | $9769880.56   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                                | Apple, Inc.                                                   | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    328685 | NS      | $83693061.55  | 11.39%            |  |  |  | No            |                  1 | On Loan: No      |
| Hubspot Inc                               | HubSpot, Inc.                                                 | CUSIP: 443573100<br>LEI: 529900BLNVEW0MVKJB37 | Long             | EC               | CORP              | US        |       552 | NS      | $258225.60    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Company                      | Baker Hughes Company Class A                                  | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30530 | NS      | $1487421.60   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Brown & Brown Inc                         | Brown & Brown, Inc.                                           | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               | CORP              | US        |      1573 | NS      | $147531.67    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc.                             | QUALCOMM, Inc.                                                | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      9790 | NS      | $1628664.40   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital Impact Partners                   | Capital Impact Partners 4.5% Due 06/15/2026                   | CUSIP: 14020AFB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    760000 | PA      | $762253.17    | 0.10%             | 2026-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Insulet Corporation                       | Insulet Corporation                                           | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |      1698 | NS      | $524223.54    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Company                  | Vulcan Materials Company                                      | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |       236 | NS      | $72598.32     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp.                           | Starbucks Corporation                                         | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |      7162 | NS      | $605905.20    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corporation                        | Cintas Corporation                                            | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7541 | NS      | $1547865.66   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilent Technologies Inc.                 | Agilent Technologies, Inc.                                    | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |      4905 | NS      | $629556.75    | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| Oracle Corp.                              | Oracle Corporation                                            | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |     24170 | NS      | $6797570.80   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies PLC                    | Trane Technologies plc                                        | CUSIP: G8994E103<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |      7160 | NS      | $3021233.60   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| MongoDB Inc.                              | MONGODB, INC.                                                 | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               | CORP              | US        |      3841 | NS      | $1192169.58   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT Corporation                           | EQT Corporation                                               | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |      7373 | NS      | $401312.39    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Reddit Inc                                | Reddit, Inc.                                                  | CUSIP: 75734B100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4106 | NS      | $944338.94    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corporation              | Costco Wholesale Corporation                                  | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      5986 | NS      | $5540821.18   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc.                           | Home Depot, Inc. (The)                                        | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     13406 | NS      | $5431977.14   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| NetApp Inc.                               | NetApp, Inc.                                                  | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |      5800 | NS      | $687068.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp.                                 | KLA Corporation                                               | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |      3030 | NS      | $3268158.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Pepsico Inc                               | PepsiCo, Inc.                                                 | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      7760 | NS      | $1089814.40   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowes Companies, Inc.                     | Lowe's Companies, Inc.                                        | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |      6789 | NS      | $1706143.59   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv Inc.                               | Fiserv, Inc.                                                  | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |     11266 | NS      | $1452525.38   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Company                           | Deere & Company                                               | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      3936 | NS      | $1799775.36   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems, Inc.              | Cadence Design Systems, Inc.                                  | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |     10624 | NS      | $3731786.24   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocket Companies Inc                      | Rocket Companies, Inc.                                        | CUSIP: 77311W101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16342 | NS      | $316707.96    | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Copart Inc                                | Copart, Inc.                                                  | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |     20652 | NS      | $928720.44    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc.                    | Texas Instruments, Inc.                                       | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |      3587 | NS      | $659039.51    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Calvert Impact Capital Inc.               | CALVERT 2.5% DUE 06/13/2025                                   | CUSIP: 13161GZL9<br>LEI: 549300B32FCKBWZSDR33 | Long             | DBT              | CORP              | US        |    500000 | PA      | $496690.40    | 0.07%             | 2025-12-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| McDonald's Corp.                          | McDonald's Corporation                                        | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |      7538 | NS      | $2290722.82   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertiv Holdings Co                        | Veritiv Holdings Company                                      | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |     10544 | NS      | $1590667.84   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Moodys Corp.                              | Moody's Corporation                                           | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |      3375 | NS      | $1608120.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc                  | Crowdshare Holdings, Inc.                                     | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |      6320 | NS      | $3099201.60   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                          | Amazon.com, Inc.                                              | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    175000 | NS      | $38424750.00  | 5.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corporation                       | Stryker Corporation                                           | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |      4760 | NS      | $1759629.20   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc.                        | Iron Mountain, Inc.                                           | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |      8670 | NS      | $883819.80    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                               | Workday, Inc. Class A                                         | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |      3460 | NS      | $832925.80    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Venture Global Inc                        | VENTURE GLOBAL INC - CL A                                     | CUSIP: 92333F101<br>LEI: 2549007XC91CAB3E0N98 | Long             | EC               | CORP              | US        |     26077 | NS      | $370032.63    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Arch Capital Group Ltd.                   | Arch Capital Group Ltd.                                       | CUSIP: G0450A105<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EC               | CORP              | BM        |      5760 | NS      | $522604.80    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Incorporated       | Vertex Pharmaceuticals, Inc.                                  | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      4274 | NS      | $1673869.36   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                       | Mount Vernon Liquid Assets Portfolio, LLC Lending Portfolio I | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |    966483 | PA      | $966483.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                                  | Visa, Inc. Class A                                            | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     40713 | NS      | $13898603.94  | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies Inc.                   | Tyler Technologies, Inc.                                      | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |      1770 | NS      | $925993.20    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Carvana Co                                | CARVANA CO                                                    | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Long             | EC               | CORP              | US        |      4400 | NS      | $1659856.00   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Waters Corporation                        | Waters Corporation                                            | CUSIP: 941848103<br>LEI: 5T547R1474YC9HOD8Q74 | Long             | EC               | CORP              | US        |      1646 | NS      | $493487.26    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc.                   | Intuitive Surgical, Inc.                                      | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |      6730 | NS      | $3009857.90   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                             | Alphabet, Inc. Class C                                        | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     97310 | NS      | $23699850.50  | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corporation                  | Lam Research Corporation                                      | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |     28890 | NS      | $3868371.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Services, Inc.                     | Quanta Services, Inc.                                         | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |      3128 | NS      | $1296305.76   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital Impact Partners                   | CAPITAL IMPACT PARTNERS 5.00%, Due 12/15/2026                 | CUSIP: 14020AEF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $503424.99    | 0.07%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| First Solar Inc                           | First Solar, Inc.                                             | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |      3450 | NS      | $760828.50    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc                    | Palo Alto Networks, Inc.                                      | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |     14120 | NS      | $2875114.40   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Veralto Corp.                             | Veralto Corporation                                           | CUSIP: 92338C103<br>LEI: 635400FJE6GSOJUSNY27 | Long             | EC               | CORP              | US        |      5884 | NS      | $627293.24    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Strategy Inc.                             | Strategy, Inc.                                                | CUSIP: 594972408<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EC               | CORP              | US        |      5763 | NS      | $1856896.23   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corporation                | American Tower Corporation                                    | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |      5412 | NS      | $1040835.84   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital Impact Partners                   | Capital Impact Partners 4.5% Due 12/15/2025                   | CUSIP: 14020AE26<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    450000 | PA      | $450393.00    | 0.06%             | 2025-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GE Vernova Inc.                           | GE Vernova Inc.                                               | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |      6598 | NS      | $4057110.20   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corporation                      | Amphenol Corporation Class A                                  | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |     14484 | NS      | $1792395.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc                    | Marvell Technology, Inc.                                      | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22460 | NS      | $1888212.20   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                        | Meta Platforms, Inc. Class A                                  | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     45180 | NS      | $33179288.40  | 4.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc                | Chipotle Mexican Grill, Inc.                                  | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35120 | NS      | $1376352.80   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Seagate Technology Holdings PLC           | Seagate Technology Holdings plc (Ireland)                     | CUSIP: G7997R103<br>LEI: 635400RUXIFEZSRU8X70 | Long             | EC               | CORP              | US        |      1666 | NS      | $393275.96    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Nasdaq Inc                                | Nasdaq, Inc.                                                  | CUSIP: 631103108<br>LEI: 549300L8X1Q78ERXFD06 | Long             | EC               | CORP              | US        |      8490 | NS      | $750940.50    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| DexCom Inc                                | DexCom, Inc.                                                  | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |     10461 | NS      | $703920.69    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadridge Financial Solutions Inc.       | Broadridge Financial Solutions, Inc.                          | CUSIP: 11133T103<br>LEI: 549300KZDJZQ2YIHRC28 | Long             | EC               | CORP              | US        |      2596 | NS      | $618289.32    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Super Micro Computer Inc.                 | Super Micro Computer, Inc.                                    | CUSIP: 86800U302<br>LEI: 54930022CZO1N2UGVW07 | Long             | EC               | CORP              | US        |     19866 | NS      | $952376.04    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Grainger W W Inc                          | Grainger (W.W.), Inc.                                         | CUSIP: 384802104<br>LEI: 549300TWZSP6O1IH2V34 | Long             | EC               | CORP              | US        |      2530 | NS      | $2410988.80   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger Limited                      | SLB Limited                                                   | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |     17760 | NS      | $610411.20    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corporation                 | Union Pacific Corporation                                     | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |      3911 | NS      | $924443.07    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Live Nation Entertainment, Inc.           | Live Nation Entertainment, Inc.                               | CUSIP: 538034109<br>LEI: 5493007B9BM9ZXJINO78 | Long             | EC               | CORP              | US        |      5560 | NS      | $908504.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE Group Inc.                           | CBRE Group, Inc.                                              | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |      1717 | NS      | $270530.52    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Roblox Corporation                        | Roku Inc.                                                     | CUSIP: 771049103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19330 | NS      | $2677591.60   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Aon PLC                                   | Aon plc                                                       | CUSIP: G0403H108<br>LEI: 635400FALWQYX5E6QC64 | Long             | EC               | CORP              | GB        |      2560 | NS      | $912844.80    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan, Inc.                       | Kinder Morgan, Inc.                                           | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |      6718 | NS      | $190186.58    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corporation                       | Danaher Corporation                                           | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      9764 | NS      | $1935810.64   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Lululemon Athletica Inc.                  | Lululemon Athletica, Inc.                                     | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | US        |      2126 | NS      | $378279.18    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinterest Inc                             | Pinterest, Inc. Class A                                       | CUSIP: 72352L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22240 | NS      | $715460.80    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Datadog Inc                               | Datadog, Inc. Class A                                         | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |      7580 | NS      | $1079392.00   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                                 | Linde plc                                                     | CUSIP: G54950103<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | US        |      7048 | NS      | $3347800.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Servicenow Inc                            | ServiceNow, Inc.                                              | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |      6293 | NS      | $5791322.04   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Calvert Impact Capital Inc.               | CALVERT IMPACT CAPITAL 5.00%, Due 12/15/2028                  | CUSIP: 13162EME3<br>LEI: 549300B32FCKBWZSDR33 | Long             | DBT              | CORP              | US        |    450000 | PA      | $443641.96    | 0.06%             | 2028-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| First American Funds Inc.                 | First American Government Obligations Fund Class X            | CUSIP: 31846V336<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   3187043 | PA      | $3187042.82   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc.                    | Applied Materials, Inc.                                       | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |     22816 | NS      | $4671347.84   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Expedia Group Inc                         | Expedia Group, Inc.                                           | CUSIP: 30212P303<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | EC               | CORP              | US        |      3256 | NS      | $695970.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Illinois Tool Works Inc.                  | Illinois Tool Works, Inc.                                     | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |      3444 | NS      | $898057.44    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Interactive Brokers Group Inc             | Interactive Brokers Group, Inc. Class A                       | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |     31079 | NS      | $2138545.99   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                              | Broadcom, Inc.                                                | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |    103001 | NS      | $33981059.91  | 4.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Accenture PLC                             | Accenture plc Class A                                         | CUSIP: G1151C101<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |      9379 | NS      | $2312861.40   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc.               | Advanced Micro Devices, Inc.                                  | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     34621 | NS      | $5601331.59   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Dominion Freight Line Inc.            | Old Dominion Freight Line, Inc.                               | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |      5900 | NS      | $830602.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominos Pizza Inc.                        | Domino's Pizza, Inc.                                          | CUSIP: 25754A201<br>LEI: 25490005ZWM1IF9UXU57 | Long             | EC               | CORP              | US        |       458 | NS      | $197723.18    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems Inc.             | Monolithic Power Systems, Inc.                                | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |      1690 | NS      | $1555881.60   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corporation                         | Intel Corporation                                             | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |     14810 | NS      | $496875.50    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora Inc                               | Cencora Incorporated                                          | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |      2140 | NS      | $668814.20    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Pacific Land Corporation            | Texas Pacific Land Corporation                                | CUSIP: 88262P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       310 | NS      | $289428.40    | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Tesla Inc                                 | Tesla, Inc.                                                   | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |     60340 | NS      | $26834404.80  | 3.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc                     | Uber Technologies, Inc.                                       | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |     50480 | NS      | $4945525.60   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                           | Microsoft Corporation                                         | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |    128238 | NS      | $66420872.10  | 9.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic Services, Inc.                   | Republic Services, Inc.                                       | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |      3500 | NS      | $803180.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Verisk Analytics, Inc.                    | Verisk Analytics, Inc.                                        | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |        57 | NS      | $14336.07     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Costar Group Inc                          | CoStar Group, Inc.                                            | CUSIP: 22160N109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10633 | NS      | $897106.21    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL Financial Holdings Inc.               | LPL Financial Holdings, Inc.                                  | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |      3703 | NS      | $1231951.07   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Rockwell Automation, Inc.                 | Rockwell Automation, Inc.                                     | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |      2288 | NS      | $799724.64    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                            | S&P Global, Inc.                                              | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |      4794 | NS      | $2333287.74   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Applovin Corp.                            | AppLovin Corporation                                          | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      6660 | NS      | $4785476.40   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Tradeweb Markets Inc                      | Tradeweb Markets, Inc.                                        | CUSIP: 892672106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1460 | NS      | $162030.80    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc              | Thermo Fisher Scientific, Inc.                                | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      6355 | NS      | $3082302.10   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Electronic Arts Inc.                      | Electronic Arts, Inc.                                         | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |      3445 | NS      | $694856.50    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet Inc                              | Fortinet, Inc.                                                | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |     12416 | NS      | $1043937.28   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Calvert Impact Capital Inc.               | Calvert Impact Capital, Inc. 4.00% 06/15/28                   | CUSIP: 13162EKS4<br>LEI: 549300B32FCKBWZSDR33 | Long             | DBT              | CORP              | US        |    750000 | PA      | $722989.74    | 0.10%             | 2028-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Mettler-Toledo International Inc          | Mettler-Toledo International, Inc.                            | CUSIP: 592688105<br>LEI: 5493000BD5GJNUDIUG10 | Long             | EC               | CORP              | US        |       550 | NS      | $675185.50    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                             | Netflix, Inc.                                                 | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |     11520 | NS      | $13811558.40  | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Heico Corp                                | HEICO Corporation                                             | CUSIP: 422806109<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |      5572 | NS      | $1798753.04   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| eBay Inc.                                 | eBay, Inc.                                                    | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |      8540 | NS      | $776713.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive Inc.                  | O'Reilly Automotive, Inc.                                     | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |     27150 | NS      | $2927041.50   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Worldwide Holdings Inc             | Hilton Worldwide Holdings, Inc.                               | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |      7350 | NS      | $1906884.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                                 | Adobe, Inc.                                                   | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      2177 | NS      | $767936.75    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                             | Alphabet, Inc. Class A                                        | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    124440 | NS      | $30251364.00  | 4.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                               | Walmart, Inc.                                                 | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |      7770 | NS      | $800776.20    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks Inc                       | Arista Networks, Inc.                                         | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |     29760 | NS      | $4336329.60   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| West Pharmaceutical Services Incorporated | West Pharmaceutical Services, Inc.                            | CUSIP: 955306105<br>LEI: 5493007NKRGM1RJQ1P16 | Long             | EC               | CORP              | US        |      1415 | NS      | $371196.95    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc.                           | Salesforce, Inc.                                              | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     13270 | NS      | $3144990.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Calvert Impact Capital Inc.               | Calvert Impact Capital 5.0% 06/15/2029                        | CUSIP: 13162ENS1<br>LEI: 549300B32FCKBWZSDR33 | Long             | DBT              | CORP              | US        |   1270000 | PA      | $1239141.26   | 0.17%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Eli Lilly & Co.                           | Eli Lilly & Company                                           | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |     20910 | NS      | $15954330.00  | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Okta Inc.                                 | Okta, Inc.                                                    | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               | CORP              | US        |      5300 | NS      | $486010.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Robinhood Markets Inc                     | Robinhood Markets Inc                                         | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |     34060 | NS      | $4876710.80   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Calvert Impact Capital Inc.               | Calvert Impact Capital 4.5% Due 12/14/2029                    | CUSIP: 13162EQE9<br>LEI: 549300B32FCKBWZSDR33 | Long             | DBT              | CORP              | US        |    450000 | PA      | $432765.76    | 0.06%             | 2029-12-14      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc.                               | AbbVie, Inc.                                                  | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      7461 | NS      | $1727519.94   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Tractor Supply Co                         | Tractor Supply Company                                        | CUSIP: 892356106<br>LEI: 549300OJ9VZHZRO6I137 | Long             | EC               | CORP              | US        |     10300 | NS      | $585761.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Snowflake Inc                             | Snowflake, Inc. Common Stock                                  | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |      8540 | NS      | $1926197.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                              | NVIDIA Corporation                                            | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    495402 | NS      | $92432105.16  | 12.58%            |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash Inc                              | DoorDash, Inc.                                                | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |     10120 | NS      | $2752538.80   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott International, Inc.              | Marriott International, Inc. Class A                          | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |      4660 | NS      | $1213650.40   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Equifax Inc.                              | Equifax, Inc.                                                 | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Long             | EC               | CORP              | US        |      1908 | NS      | $489459.24    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower OP LLC                          | Welltower, Inc. REIT                                          | CUSIP: 95040Q104<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | EC               | CORP              | US        |     14163 | NS      | $2522996.82   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Global Markets Inc                   | Cboe Global Markets, Inc.                                     | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |      1540 | NS      | $377685.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace Inc                      | Howmet Aerospace, Inc.                                        | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |      8650 | NS      | $1697389.50   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Calvert Impact Capital Inc.               | Calvert Impact Capital Inc. 4.5% Due 06/14/2030               | CUSIP: 13162ERS7<br>LEI: 549300B32FCKBWZSDR33 | Long             | DBT              | CORP              | US        |    760000 | PA      | $720060.26    | 0.10%             | 2030-06-14      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Block Inc                                 | Block Inc CL A due 11/19/15                                   | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Long             | EC               | CORP              | US        |     12145 | NS      | $877719.15    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Verisign, Inc.                            | VeriSign, Inc.                                                | CUSIP: 92343E102<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | EC               | CORP              | US        |      3210 | NS      | $897419.70    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                                | Intuit, Inc.                                                  | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      6540 | NS      | $4466231.40   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlassian Corporation                     | Atlassian Corporation Class A                                 | CUSIP: 049468101<br>LEI: 549300V7ZY5P02D2MY38 | Long             | EC               | CORP              | AU        |      4700 | NS      | $750590.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| ResMed Inc.                               | ResMed, Inc.                                                  | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |      2090 | NS      | $572095.70    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys Inc                              | Synopsys, Inc.                                                | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |      6452 | NS      | $3183352.28   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Autozone, Inc.                            | AutoZone, Inc.                                                | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |       659 | NS      | $2827268.16   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Autodesk Inc                              | Autodesk, Inc.                                                | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |      4537 | NS      | $1441268.79   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Axon Enterprise Inc                       | Axon Enterprise, Inc.                                         | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |      2700 | NS      | $1937628.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix, Inc.                             | Equinix, Inc. REIT                                            | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      1777 | NS      | $1391817.48   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corporation                    | Fair Isaac Corporation                                        | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |       920 | NS      | $1376807.60   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Company                  | American Express Company                                      | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |      6050 | NS      | $2009568.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-28

**Name of Applicant:** Susan McLauchlan

**Signature:** Susan McLauchlan

**Name of Signer:** Susan McLauchlan

**Title:** VP Fund Accounting