Schedule of Investments (Unaudited)
Pax Balanced Fund	September 30, 2019

PERCENT OF NET ASSETS	SHARES/
NAME OF ISSUER AND TITLE OF ISSUE	PRINCIPAL		VALUE
AFFILIATED INVESTMENT COMPANIES: 96.1%
Pax Core Bond Fund (a)	66,350,045	$	687,389,369
Pax Ellevate Global Women's Index Fund (a)	770,268		20,011,561
Pax ESG Beta Dividend Fund (a)	9,633,291		119,452,806
Pax Global Environmental Markets Fund (a)	1,478,119		23,103,002
Pax Global Opportunities Fund (a)	2,508,131		28,216,470
Pax High Yield Bond Fund (a)	3,222,346		21,525,272
Pax Large Cap Fund (a)	70,866,979		688,827,038
Pax MSCI EAFE ESG Leaders Index Fund (a)	15,443,356		134,048,331
Pax Small Cap Fund (a)	2,158,328		30,000,761
TOTAL AFFILIATED INVESTMENT COMPANIES			1,752,574,610
(Cost $1,679,765,982)
MONEY MARKET: 4.5%
State Street Institutional U.S. Government Money Market Fund, 1.880% (b)(c)	82,667,863		82,667,863
(Cost $82,667,863)
TOTAL INVESTMENTS: 100.6%			1,835,242,473
(Cost $1,762,433,845)
Other assets and liabilities - (net):- 0.6%			(10,702,582	)
Net Assets: 100.0%		$	1,824,539,891

(a) Institutional Class shares

(b) Rate shown represents annualized 7-day yield as of September 30, 2019.

(c) Premier Class shares