Pax U.S. Sustainable Economy Fund USD 7/31/2021 Port

Home , Ansys, Autodesk, CSX Corporation, Idexx Laboratories, MarketAxess, Maxim Integrated

Pax U.S. Sustainable Economy Fund USD 7/31/2021 Port. Ending Market Value Portfolio Weight Apple Inc. 16,539,502.98 5.5 Microsoft Corporation 14,768,024.94 4.9 Alphabet Inc. Class A 11,168,826.85 3.7 NVIDIA Corporation 9,349,380.52 3.1 Johnson & Johnson 6,203,677.20 2.1 Thermo Fisher Scientific Inc. 6,203,634.88 2.1 Zoetis, Inc. Class A 5,922,083.20 2.0 HCA Healthcare Inc 5,696,190.00 1.9 Verizon Communications Inc. 5,534,045.36 1.8 Home Depot, Inc. 5,065,940.84 1.7 Waste Management, Inc. 5,060,113.80 1.7 Lam Research Corporation 4,984,546.20 1.6 American Water Works Company, Inc. 4,908,694.16 1.6 Allstate Corporation 4,811,459.85 1.6 Linde plc 4,454,695.88 1.5 CBRE Group, Inc. Class A 4,296,135.48 1.4 Mastercard Incorporated Class A 4,214,078.86 1.4 MetLife, Inc. 4,142,744.60 1.4 Texas Instruments Incorporated 4,080,602.34 1.4 Alphabet Inc. Class C 3,934,931.10 1.3 Unum Group 3,436,097.00 1.1 Eli Lilly and Company 3,340,089.50 1.1 PepsiCo, Inc. 3,255,770.80 1.1 Intel Corporation 3,219,278.44 1.1 HubSpot, Inc. 3,181,554.76 1.1 Applied Materials, Inc. 3,178,230.09 1.1 Procter & Gamble Company 3,101,040.69 1.0 Ecolab Inc. 3,071,082.81 1.0 ViacomCBS Inc. Class B 3,057,143.56 1.0 ServiceNow, Inc. 2,987,069.09 1.0 International Flavors & Fragrances Inc. 2,870,595.84 0.9 Aflac Incorporated 2,842,950.00 0.9 CVS Health Corporation 2,781,956.08 0.9 AbbVie, Inc. 2,712,581.20 0.9 United Parcel Service, Inc. Class B 2,650,527.36 0.9 Agilent Technologies, Inc. 2,625,289.59 0.9 Bristol-Myers Squibb Company 2,561,549.54 0.8 Kimberly-Clark Corporation 2,368,721.16 0.8 Kroger Co. 2,324,539.80 0.8 Brunswick Corporation 2,260,990.80 0.7 salesforce.com, inc. 2,160,918.76 0.7 DocuSign, Inc. 2,092,538.84 0.7 Accenture Plc Class A 2,088,110.64 0.7 Nuance Communications, Inc. 2,079,557.10 0.7 Autodesk, Inc. 2,065,187.03 0.7 Amgen Inc. 2,035,216.04 0.7 Eaton Corp. Plc 2,029,045.90 0.7 Cerner Corporation 2,023,335.91 0.7 LPL Financial Holdings Inc. 1,929,004.08 0.6 Morningstar, Inc. 1,891,693.44 0.6 Visa Inc. Class A 1,858,273.38 0.6 Best Buy Co., Inc. 1,857,033.15 0.6 Johnson Controls International plc 1,856,562.90 0.6 Merck & Co., Inc. 1,846,648.01 0.6 Pax U.S. Sustainable Economy Fund USD 7/31/2021 Port. Ending Market Value Portfolio Weight

Cisco Systems, Inc. 1,841,384.72 0.6 West Pharmaceutical Services, Inc. 1,826,846.01 0.6 Trane Technologies plc 1,774,053.93 0.6 Cummins Inc. 1,684,581.80 0.6 General Mills, Inc. 1,682,807.40 0.6 International Business Machines Corporation 1,664,596.64 0.6 Aptiv PLC 1,629,623.95 0.5 Synopsys, Inc. 1,625,415.56 0.5 Zynga Inc. Class A 1,534,634.40 0.5 Cadence Design Systems, Inc. 1,509,868.90 0.5 PPG Industries, Inc. 1,489,176.64 0.5 iShares Core S&P 500 ETF 1,467,412.80 0.5 Rockwell Automation, Inc. 1,435,651.40 0.5 HP Inc. 1,411,858.48 0.5 J.M. Smucker Company 1,384,521.60 0.5 Equinix, Inc. 1,369,264.29 0.5 Ameriprise Financial, Inc. 1,356,826.08 0.4 ANSYS, Inc. 1,329,035.22 0.4 Hartford Financial Services Group, Inc. 1,287,986.90 0.4 Old Dominion Freight Line, Inc. 1,280,077.40 0.4 Bank of New York Mellon Corporation 1,262,769.33 0.4 Colgate-Palmolive Company 1,240,677.00 0.4 Maxim Integrated Products, Inc. 1,235,387.15 0.4 Air Products and Chemicals, Inc. 1,200,498.75 0.4 Hershey Company 1,163,077.76 0.4 United Rentals, Inc. 1,136,947.50 0.4 Emerson Electric Co. 1,116,953.19 0.4 Anthem, Inc. 1,115,933.06 0.4 Progressive Corporation 1,110,041.40 0.4 Grand Canyon Education, Inc. 1,080,174.78 0.4 Intuit Inc. 1,066,829.61 0.4 Adobe Inc. 1,001,445.93 0.3 eBay Inc. 989,522.47 0.3 Illumina, Inc. 982,080.75 0.3 BorgWarner Inc. 949,918.12 0.3 Robert Half International Inc. 949,297.86 0.3 VMware, Inc. Class A 904,606.16 0.3 Bio-Rad Laboratories, Inc. Class A 891,849.06 0.3 Lowe's Companies, Inc. 880,978.68 0.3 Interpublic Group of Companies, Inc. 877,599.84 0.3 C.H. Robinson Worldwide, Inc. 790,759.56 0.3 Citrix Systems, Inc. 747,262.75 0.2 Clorox Company 741,829.89 0.2 Walgreens Boots Alliance Inc 688,672.90 0.2 Affiliated Managers Group, Inc. 683,351.72 0.2 Electronic Arts Inc. 653,434.44 0.2 Keysight Technologies Inc 570,823.95 0.2 PayPal Holdings Inc 529,293.13 0.2 MarketAxess Holdings Inc. 519,360.81 0.2 Estee Lauder Companies Inc. Class A 506,086.28 0.2 DaVita Inc. 476,911.50 0.2 Mettler-Toledo International Inc. 434,744.45 0.1 PTC Inc. 430,053.75 0.1 Eastman Chemical Company 403,537.60 0.1 Pax U.S. Sustainable Economy Fund USD 7/31/2021 Port. Ending Market Value Portfolio Weight

IDEXX Laboratories, Inc. 401,689.76 0.1 Charles River Laboratories International, Inc. 397,153.92 0.1 Boston Properties, Inc. 377,728.84 0.1 W.W. Grainger, Inc. 375,225.52 0.1 Advanced Micro Devices, Inc. 371,027.86 0.1 Simon Property Group, Inc. 366,148.88 0.1 PNC Financial Services Group, Inc. 357,158.78 0.1 Sherwin-Williams Company 345,743.64 0.1 Acuity Brands, Inc. 344,972.46 0.1 Bright Horizons Family Solutions, Inc. 341,906.50 0.1 Macquarie Infrastructure Corporation 338,515.00 0.1 Dell Technologies Inc Class C 334,111.96 0.1 UDR, Inc. 332,634.51 0.1 Welltower, Inc. 325,811.86 0.1 Chemours Co. 323,988.00 0.1 Graphic Packaging Holding Company 322,017.66 0.1 NVR, Inc. 318,578.60 0.1 T-Mobile US, Inc. 318,284.20 0.1 Equity Residential 317,927.27 0.1 IDEX Corporation 315,552.48 0.1 Rayonier Inc. 315,444.15 0.1 Trimble Inc. 312,759.00 0.1 Healthpeak Properties, Inc. 312,507.41 0.1 Qualcomm Inc 309,486.80 0.1 Cognex Corporation 303,506.37 0.1 Hubbell Incorporated Class B 300,289.08 0.1 Vail Resorts, Inc. 299,096.00 0.1 Humana Inc. 298,102.00 0.1 Allegion PLC 298,061.20 0.1 Ventas, Inc. 295,372.98 0.1 Packaging Corporation of America 294,461.50 0.1 Splunk Inc. 294,182.56 0.1 Harley-Davidson, Inc. 293,623.82 0.1 Kansas City Southern 293,508.80 0.1 D.R. Horton, Inc. 293,256.39 0.1 Cable One, Inc. 292,638.45 0.1 Graco Inc. 292,409.60 0.1 Universal Display Corporation 289,595.15 0.1 Martin Marietta Materials, Inc. 289,186.80 0.1 Avangrid, Inc. 287,291.40 0.1 ON Semiconductor Corporation 286,114.50 0.1 International Paper Company 286,085.28 0.1 Whirlpool Corporation 284,678.90 0.1 Owens Corning 284,056.64 0.1 PulteGroup, Inc. 283,074.33 0.1 Union Pacific Corporation 282,419.16 0.1 Fortune Brands Home & Security, Inc. 280,713.60 0.1 Celanese Corporation 280,697.54 0.1 Hologic, Inc. 279,524.00 0.1 Williams-Sonoma, Inc. 278,976.30 0.1 Lear Corporation 278,218.20 0.1 Hasbro, Inc. 277,636.48 0.1 First Solar, Inc. 277,134.84 0.1 Pax U.S. Sustainable Economy Fund USD 7/31/2021 Port. Ending Market Value Portfolio Weight

FedEx Corporation 276,310.65 0.1 Loews Corporation 275,765.46 0.1 Axalta Coating Systems Ltd. 275,294.60 0.1 National Instruments Corporation 273,658.44 0.1 Gentex Corporation 272,240.00 0.1 MGM Resorts International 271,904.85 0.1 CSX Corporation 270,324.48 0.1 Illinois Tool Works Inc. 269,737.30 0.1 Regal Beloit Corp 269,283.67 0.1 Sensata Technologies Holding PLC 266,017.56 0.1 Amcor PLC 264,504.36 0.1 Western Digital Corporation 262,966.50 0.1 Corning Inc 262,336.62 0.1 Planet Fitness, Inc. Class A 261,123.33 0.1 Weyerhaeuser Company 259,721.00 0.1 Hexcel Corporation 258,440.58 0.1 Lumen Technologies, Inc. 256,283.44 0.1 Norfolk Southern Corporation 255,509.53 0.1 Coherent, Inc. 254,301.96 0.1 Etsy, Inc. 253,794.33 0.1 Host Hotels & Resorts, Inc. 250,451.46 0.1 WestRock Company 247,723.14 0.1 Baxter International Inc. 244,580.70 0.1 Edison International 242,743.00 0.1 Huntington Bancshares Incorporated 236,628.48 0.1 Nordstrom, Inc. 232,295.80 0.1 Park Hotels & Resorts, Inc. 227,920.00 0.1 Hill-Rom Holdings, Inc. 225,274.42 0.1 Booz Allen Hamilton Holding Corporation Class A 212,379.75 0.1 Las Vegas Sands Corp. 187,991.65 0.1 Expeditors International of Washington, Inc. 168,392.25 0.1 AT&T Inc. 167,234.10 0.1 Tractor Supply Company 143,477.49 0.0 FactSet Research Systems Inc. 134,337.28 0.0 Activision Blizzard, Inc. 115,395.60 0.0 Zscaler, Inc. 101,677.21 0.0 Organon & Co. 69,682.02 0.0 Omega Healthcare Investors, Inc. 40,234.52 0.0 F5 Networks, Inc. 30,150.46 0.0 Landstar System, Inc. 24,963.00 0.0 Sonoco Products Company 16,266.45 0.0 U.S. Dollar 95,106.32 0.0

Holdings are subject to change. Holdings are as of the period ended July 31, 2021 and are subject to change.

Effective March 31, 2021, the name of the Pax ESG Beta Quality Fund changed to the Pax U.S. 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.

IMPX0655 (11/21)