Pax International Sustainable Economy Fund USD 6/30/2021 Port

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Pax International Sustainable Economy Fund USD 6/30/2021 Port. Ending Market Value Portfolio Weight ASML Holding NV 31,075,199.27 4.0 Roche Holding Ltd 27,512,556.41 3.5 SAP SE 16,798,572.03 2.2 AstraZeneca PLC 16,451,650.73 2.1 Novo Nordisk A/S Class B 16,030,148.31 2.1 Unilever PLC 13,415,788.83 1.7 Commonwealth Bank of Australia 13,319,485.15 1.7 L'Oreal SA 10,172,011.20 1.3 Allianz SE 9,935,362.25 1.3 GlaxoSmithKline plc 9,755,063.16 1.3 Schneider Electric SE 9,670,822.65 1.2 BNP Paribas SA Class A 9,086,546.26 1.2 Hong Kong Exchanges & Clearing Ltd. 8,826,437.64 1.1 Takeda Pharmaceutical Co. Ltd. 8,639,939.56 1.1 Lonza Group AG 8,544,146.27 1.1 Air Liquide SA 8,519,928.82 1.1 RELX PLC 8,348,977.60 1.1 KDDI Corporation 7,712,089.08 1.0 Tokyo Electron Ltd. 7,400,763.72 0.9 Vestas Wind Systems A/S 7,383,676.25 0.9 BASF SE 7,294,876.10 0.9 Munich Reinsurance Company 7,133,605.32 0.9 Recruit Holdings Co., Ltd. 7,033,902.71 0.9 HOYA CORPORATION 6,844,846.32 0.9 ABB Ltd. 6,787,874.89 0.9 ASSA ABLOY AB Class B 6,564,206.12 0.8 Iberdrola SA 6,508,988.38 0.8 Deutsche Boerse AG 6,474,389.48 0.8 Merck KGaA 6,440,945.03 0.8 Nintendo Co., Ltd. 6,429,345.33 0.8 Compagnie Generale des Etablissements Michelin SCA 6,407,924.67 0.8 Prosus N.V. Class N 6,191,843.57 0.8 Deutsche Post AG 5,882,944.86 0.8 Enel SpA 5,859,941.21 0.8 Aristocrat Leisure Limited 5,742,592.39 0.7 Atlas Copco AB Class B 5,739,310.97 0.7 Seven & I Holdings Co., Ltd. 5,700,795.21 0.7 AXA SA 5,680,983.64 0.7 Reckitt Benckiser Group plc 5,617,907.59 0.7 Straumann Holding AG 5,583,298.66 0.7 UPM-Kymmene Oyj 5,520,718.05 0.7 Legal & General Group Plc 5,491,895.31 0.7 Banco Bilbao Vizcaya Argentaria, S.A. 5,383,150.44 0.7 Dai-ichi Life Holdings,Inc. 5,364,760.24 0.7 CRH Plc 5,352,638.52 0.7 CNH Industrial NV 5,350,632.16 0.7 Eisai Co., Ltd. 5,056,227.56 0.6 Zurich Insurance Group Ltd 4,958,960.55 0.6 St. James's Place Plc 4,940,709.43 0.6 Z Holdings Corporation 4,743,706.72 0.6 Danone SA 4,730,135.42 0.6 Australia and New Zealand Banking Group Limited 4,662,596.22 0.6 Atlas Copco AB Class A 4,656,457.10 0.6 Pax International Sustainable Economy Fund USD 6/30/2021 Port. Ending Market Value Portfolio Weight

Shin-Etsu Chemical Co Ltd 4,637,502.70 0.6 Sika AG 4,628,780.44 0.6 Unibail-Rodamco-Westfield SE Stapled Secs Cons of 1 Sh Unibail Rodamco + 1 Sh WFD Unib Rod 4,611,161.78 0.6 Macquarie Group Limited 4,499,924.24 0.6 Societe Generale S.A. Class A 4,444,544.49 0.6 Swiss Re AG 4,439,609.81 0.6 Givaudan SA 4,436,076.00 0.6 Meridian Energy Limited 4,372,764.03 0.6 Fujitsu Limited 4,363,528.70 0.6 Murata Manufacturing Co., Ltd. 4,307,950.42 0.6 DBS Group Holdings Ltd 4,288,559.89 0.5 Koninklijke Ahold Delhaize N.V. 4,258,418.52 0.5 Vodafone Group Plc 4,164,859.09 0.5 Oriental Land Co., Ltd. 3,978,550.04 0.5 QBE Insurance Group Limited 3,922,044.59 0.5 Astellas Pharma Inc. 3,905,520.39 0.5 Sandvik AB 3,904,053.76 0.5 Bouygues SA 3,743,871.01 0.5 NTT DATA Corporation 3,690,760.58 0.5 Eiffage SA 3,573,479.49 0.5 Kao Corp. 3,499,433.68 0.4 Mitsui Fudosan Co., Ltd. 3,467,203.09 0.4 Tesco PLC 3,419,637.66 0.4 Ashtead Group plc 3,348,167.59 0.4 Norsk Hydro ASA 3,327,237.84 0.4 DENSO CORPORATION 3,324,067.39 0.4 Stora Enso Oyj Class R 3,224,807.34 0.4 Orsted 3,122,265.90 0.4 Assicurazioni Generali S.p.A. 3,036,582.71 0.4 East Japan Railway Company 3,026,575.60 0.4 Wartsila Oyj Abp 2,997,959.10 0.4 Informa Plc 2,890,590.83 0.4 Mizuho Financial Group, Inc. 2,780,983.15 0.4 Komatsu Ltd. 2,757,425.84 0.4 Kubota Corporation 2,751,816.40 0.4 Chugai Pharmaceutical Co., Ltd. 2,630,391.77 0.3 Telia Company AB 2,620,351.42 0.3 SGS SA 2,614,538.47 0.3 Bridgestone Corporation 2,543,190.90 0.3 Shiseido Company,Limited 2,539,702.12 0.3 NEC Corp. 2,497,897.44 0.3 Intesa Sanpaolo S.p.A. 2,463,697.65 0.3 BOC Hong Kong (Holdings) Limited 2,456,951.71 0.3 Orange SA 2,442,519.66 0.3 Red Electrica Corp. SA 2,431,902.20 0.3 Akzo Nobel N.V. 2,389,052.99 0.3 Atos SE 2,341,368.51 0.3 Goodman Group 2,321,123.83 0.3 JFE Holdings, Inc. 2,262,877.06 0.3 Delivery Hero SE 2,179,563.67 0.3 Pax International Sustainable Economy Fund USD 6/30/2021 Port. Ending Market Value Portfolio Weight

Associated British Foods plc 2,163,164.65 0.3 voestalpine AG 2,107,602.91 0.3 NN Group N.V. 2,035,091.30 0.3 Secom Co., Ltd. 1,998,866.78 0.3 Xero Limited 1,991,325.42 0.3 Solvay SA 1,989,818.17 0.3 Eurazeo SA 1,965,537.78 0.3 Kajima Corporation 1,938,297.35 0.2 Singapore Telecommunications Limited TEMP 1,930,955.28 0.2 MTR Corporation Limited 1,924,293.17 0.2 CapitaLand Integrated Commercial Trust 1,902,695.02 0.2 West Japan Railway Company 1,853,251.49 0.2 Carrefour SA 1,818,568.01 0.2 TDK Corporation 1,817,536.59 0.2 Mondi plc 1,801,968.85 0.2 Lloyds Banking Group plc 1,797,129.24 0.2 AEON Co., Ltd. 1,759,993.91 0.2 UCB S.A. 1,749,867.80 0.2 REA Group Ltd 1,726,860.48 0.2 Sysmex Corporation 1,721,830.86 0.2 TOTO Ltd 1,695,897.86 0.2 Wolters Kluwer NV 1,692,062.38 0.2 Computershare Limited 1,686,956.59 0.2 J Sainsbury plc 1,649,029.33 0.2 SKF AB Class B 1,620,900.26 0.2 Coloplast A/S Class B 1,620,176.60 0.2 Teleperformance SE 1,613,192.13 0.2 Otsuka Corporation 1,558,354.40 0.2 HeidelbergCement AG 1,525,176.05 0.2 Kingspan Group Plc 1,519,964.73 0.2 Jeronimo Martins, SGPS S.A. 1,514,997.94 0.2 Swire Pacific Limited Class A 1,500,495.33 0.2 NIBE Industrier AB Class B 1,499,702.21 0.2 Standard Chartered PLC 1,484,085.33 0.2 Telenor ASA 1,475,477.17 0.2 OMRON Corporation 1,466,157.19 0.2 Daiwa House Industry Co., Ltd. 1,459,701.64 0.2 Telefonaktiebolaget LM Ericsson Class B 1,389,389.02 0.2 SoftBank Corp. 1,378,098.48 0.2 Spirax-Sarco Engineering PLC 1,376,855.11 0.2 ASX Limited 1,376,778.92 0.2 Suntory Beverage & Food Ltd. 1,361,979.86 0.2 Telefonica Deutschland Holding AG 1,356,371.32 0.2 Obayashi Corporation 1,336,700.64 0.2 Kikkoman Corporation 1,333,415.74 0.2 Genmab A/S 1,321,566.95 0.2 BT Group plc 1,316,486.00 0.2 Mitsubishi Chemical Holdings Corporation 1,315,509.37 0.2 Auckland International Airport Limited 1,294,824.79 0.2 Central Japan Railway Company 1,292,800.87 0.2 Yamaha Corporation 1,276,961.40 0.2 Pax International Sustainable Economy Fund USD 6/30/2021 Port. Ending Market Value Portfolio Weight

Capcom Co., Ltd. 1,275,573.28 0.2 Sekisui House, Ltd. 1,251,750.05 0.2 KBC Group N.V. 1,246,058.15 0.2 Hitachi Construction Machinery Co., Ltd. 1,241,522.28 0.2 Wm Morrison Supermarkets plc 1,225,165.52 0.2 Cochlear Limited 1,218,956.20 0.2 Keio Corporation 1,213,778.06 0.2 Nitto Denko Corp. 1,192,653.28 0.2 Odakyu Electric Railway Co., Ltd. 1,179,803.00 0.2 Yaskawa Electric Corporation 1,158,491.55 0.1 Telstra Corporation Limited 1,140,569.98 0.1 Ajinomoto Co., Inc. 1,133,783.21 0.1 Sompo Holdings,Inc. 1,119,612.75 0.1 MS&AD Insurance Group Holdings, Inc. 1,105,490.73 0.1 Aegon NV 1,074,110.15 0.1 Bank Leumi Le-Israel Ltd. 1,069,635.93 0.1 Fisher & Paykel Healthcare Corporation Limited 1,054,102.16 0.1 Nippon Yusen Kabushiki Kaisha 1,046,399.74 0.1 Ryman Healthcare Ltd. 1,025,480.41 0.1 Evolution AB 1,002,780.33 0.1 JD Sports Fashion Plc 1,002,075.32 0.1 Demant A/S 991,441.32 0.1 NIPPON PAINT HOLDINGS CO.LTD. 980,361.09 0.1 CaixaBank SA 963,183.90 0.1 CapitaLand Limited 958,922.02 0.1 CyberAgent, Inc. 943,242.21 0.1 Kesko Oyj Class B 922,501.25 0.1 Nomura Research Institute,Ltd. 922,314.02 0.1 Deutsche Wohnen SE 920,262.74 0.1 Publicis Groupe SA 918,828.14 0.1 Daifuku Co., Ltd. 917,220.49 0.1 Amundi SA 895,596.33 0.1 Yamada Holding Co., Ltd. 883,116.85 0.1 SEGRO plc 879,597.45 0.1 Coca-Cola Europacific Partners plc 872,004.00 0.1 Seek Limited 865,791.50 0.1 Croda International Plc 858,762.35 0.1 Bluescope Steel Limited 851,035.36 0.1 ZOZO, Inc. 848,444.75 0.1 Coca-Cola HBC AG 848,109.63 0.1 Chocoladefabriken Lindt & Spruengli AG Partizipsch. 846,459.67 0.1 Commerzbank AG 837,308.17 0.1 SCSK Corporation 834,960.90 0.1 Singapore Exchange Ltd. 832,363.70 0.1 Hitachi Metals, Ltd. 828,243.27 0.1 GN Store Nord A/S 822,470.61 0.1 Yamaha Motor Co., Ltd. 815,635.92 0.1 Rohm Co., Ltd. 810,609.76 0.1 Koninklijke DSM N.V. 804,661.68 0.1 Rentokil Initial plc 797,628.76 0.1 Mercari, Inc. 793,701.21 0.1 Pax International Sustainable Economy Fund USD 6/30/2021 Port. Ending Market Value Portfolio Weight

Spark New Zealand Limited 790,899.63 0.1 Yakult Honsha Co., Ltd. 782,127.52 0.1 Insurance Australia Group Limited 778,385.49 0.1 Mercury NZ Ltd. 776,498.08 0.1 Johnson Matthey Plc 770,364.44 0.1 Nippon Building Fund, Inc. 767,082.65 0.1 SEB SA 759,347.18 0.1 Orkla ASA 756,699.35 0.1 Nomura Real Estate Holdings, Inc. 755,512.99 0.1 T&D Holdings, Inc. 741,680.86 0.1 Schroders PLC 740,041.68 0.1 Sumitomo Chemical Co., Ltd. 735,741.12 0.1 NIPPON EXPRESS CO., LTD. 732,736.80 0.1 Clariant AG 731,731.03 0.1 Henkel AG & Co. KGaA 728,610.06 0.1 Valeo SE 713,939.44 0.1 Kansai Paint Co., Ltd. 712,849.60 0.1 TAISEI CORP 709,590.95 0.1 Shionogi & Co., Ltd. 704,231.28 0.1 Husqvarna AB Class B 701,334.62 0.1 Sohgo Security Services Co., Ltd. 697,738.52 0.1 Electrolux AB Class B 692,864.16 0.1 UOL Group Limited 692,011.31 0.1 Nitori Holdings Co., Ltd. 689,380.03 0.1 Hulic Co., Ltd. 689,285.34 0.1 Lawson, Inc. 686,133.25 0.1 City Developments Limited 685,050.99 0.1 Tobu Railway Co., Ltd. 681,395.52 0.1 DCC Plc 676,364.94 0.1 Ramsay Health Care Limited 676,348.99 0.1 Henkel AG & Co. KGaA Pref 676,014.59 0.1 Tryg A/S 675,477.36 0.1 HIROSE ELECTRIC CO., LTD. 673,591.25 0.1 Hankyu Hanshin Holdings, Inc. 670,465.42 0.1 USS Co., Ltd. 668,382.84 0.1 Sekisui Chemical Co., Ltd. 647,824.19 0.1 Svenska Cellulosa Aktiebolaget Class B 623,388.07 0.1 Nabtesco Corporation 611,756.78 0.1 Tokyo Century Corporation 602,726.02 0.1 Beiersdorf AG 580,548.25 0.1 Vicinity Centres 550,137.21 0.1 Tele2 AB Class B 524,575.86 0.1 Azbil Corporation 506,006.10 0.1 Swire Properties Limited 480,066.77 0.1 Shimizu Corporation 436,919.82 0.1 Miura Co., Ltd. 382,483.38 0.0 Stanley Electric Co., Ltd. 373,049.64 0.0 Geberit AG 358,657.40 0.0 Yokogawa Electric Corp. 344,300.78 0.0 NSK Ltd. 323,417.70 0.0 Mirvac Group 176,214.31 0.0 Pax International Sustainable Economy Fund USD 6/30/2021 Port. Ending Market Value Portfolio Weight

Credit Agricole SA 137,255.10 0.0 Umicore 91,656.42 0.0 Koninklijke Philips N.V. 84,339.10 0.0 Kerry Group Plc Class A 81,240.21 0.0 Swisscom AG 78,928.34 0.0 Keppel Corporation Limited 78,323.02 0.0 Hang Seng Bank, Limited 77,780.57 0.0 Bank Hapoalim BM 75,932.93 0.0 TOKYU CORPORATION 73,563.84 0.0 Nomura Real Estate Master Fund, Inc. 48,058.45 0.0 Coles Group Ltd. 25,698.10 0.0 Kobayashi Pharmaceutical Co., Ltd. 8,558.55 0.0 Nissin Foods Holdings Co., Ltd. 7,207.51 0.0 United Overseas Bank Ltd. (Singapore) 1,098.08 0.0 U.S. Dollar 4,569,057.46 0.6

Holdings are subject to change. Holdings are as of the period ended June 30, 2021 and are subject to change.

Effective March 31, 2021, the name of the Pax MSCI EAFE ESG Leaders Index Fund changed to the Pax International Sustainable Economy Fund.

You should consider Pax World Funds’ investment objectives, risks, and charges and expenses carefully before investing. For this and other important information, please obtain a fund prospectus by calling 800.767.1729 or visit www.impaxam.com. Please read it carefully before investing. Copyright © 2021 Impax Asset Management LLC. All rights reserved. Pax World Funds are distributed by Foreside Financial Services, LLC. Foreside Financial Services, LLC is not affiliated with Impax Asset Management LLC.

IMPX0610 (10/21)