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		<isConfidential>false</isConfidential>
		<filerInfo>

			<filer>
				<issuerCredentials>
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					<ccc>XXXXXXXX</ccc>
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			</filer>

			<seriesClassInfo>
				<seriesId>S000021459</seriesId>
				<classId>C000061360</classId>
				<classId>C000061361</classId>
				<classId>C000128850</classId>
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		<genInfo>
			<regName>PAX WORLD FUNDS SERIES TRUST I</regName>
			<regFileNumber>811-02064</regFileNumber>
			<regCik>0000076721</regCik>
			<regLei>549300TD5R23SWU72456</regLei>
			<regStreet1>30 Penhallow St.</regStreet1>
			<regStreet2>Suite 400</regStreet2>
			<regCity>Portsmouth</regCity>
			<regStateConditional regCountry="US" regState="US-NH"/>
			<regZipOrPostalCode>03801</regZipOrPostalCode>
			<regPhone>800-767-1729</regPhone>
			<seriesName>Pax Small Cap Fund</seriesName>
			<seriesId>S000021459</seriesId>
			<seriesLei>549300GOOKRMB3XGNR17</seriesLei>
			<repPdEnd>2019-12-31</repPdEnd>
			<repPdDate>2019-12-31</repPdDate>
			<isFinalFiling>N</isFinalFiling>
		</genInfo>
		<fundInfo>
			<totAssets>438555209.12</totAssets>
			<totLiabs>5118912.87</totLiabs>
			<netAssets>433436296.25</netAssets>
			<assetsAttrMiscSec>0</assetsAttrMiscSec>
			<assetsInvested>0</assetsInvested>
			<amtPayOneYrBanksBorr>0</amtPayOneYrBanksBorr>
			<amtPayOneYrCtrldComp>0</amtPayOneYrCtrldComp>
			<amtPayOneYrOthAffil>0</amtPayOneYrOthAffil>
			<amtPayOneYrOther>0</amtPayOneYrOther>
			<amtPayAftOneYrBanksBorr>0</amtPayAftOneYrBanksBorr>
			<amtPayAftOneYrCtrldComp>0</amtPayAftOneYrCtrldComp>
			<amtPayAftOneYrOthAffil>0</amtPayAftOneYrOthAffil>
			<amtPayAftOneYrOther>0</amtPayAftOneYrOther>
			<delayDeliv>0</delayDeliv>
			<standByCommit>0</standByCommit>
			<liquidPref>0</liquidPref>
			<cshNotRptdInCorD>51803.82</cshNotRptdInCorD>
			<borrowers>
				<borrower aggrVal="466078" lei="N/A" name="BANK OF NOVA SCOTIA"/>
				<borrower aggrVal="4194294.63" lei="G5GSEF7VJP5I7OUK5573" name="BARCLAYS BANK PLC"/>
				<borrower aggrVal="7542148.51" lei="N/A" name="BOFA SECURITIES, INC."/>
				<borrower aggrVal="17416.43" lei="1V8Y6QCX6YMJ2OELII46" name="CREDIT SUISSE SECURITIES (USA) LLC"/>
				<borrower aggrVal="546661.06" lei="ZBUT11V806EZRVTWT807" name="JP MORGAN SECURITIES LLC"/>
				<borrower aggrVal="517440" lei="N/A" name="MUFG SECURITIES AMERICAS INC"/>
				<borrower aggrVal="3833316" lei="N/A" name="NATIONAL FINANCIAL SERVICES LLC"/>
				<borrower aggrVal="2533069.43" lei="N/A" name="UBS AG"/>
			</borrowers>
			<aggregateCondition isNonCashCollateral="Y">
				<aggregateInfos>
					<aggregateInfo amt="14256527.84" collatrl="14517435.22">
						<invstCat>UST</invstCat>
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			<returnInfo>
				<monthlyTotReturns>
					<monthlyTotReturn classId="C000061360" rtn1="1.88" rtn2="4.42" rtn3="0.15"/>
					<monthlyTotReturn classId="C000061361" rtn1="1.93" rtn2="4.38" rtn3="0.22"/>
					<monthlyTotReturn classId="C000128850" rtn1="1.88" rtn2="4.36" rtn3="0.22"/>
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				<monthlyReturnCats/>
				<othMon1 netRealizedGain="3755048.11" netUnrealizedAppr="4126653.41"/>
				<othMon2 netRealizedGain="2753240.72" netUnrealizedAppr="15362070.43"/>
				<othMon3 netRealizedGain="1800176.4" netUnrealizedAppr="-743807.95"/>
			</returnInfo>
			<mon1Flow redemption="15326861.91" reinvestment="0" sales="6237282.99"/>
			<mon2Flow redemption="8789858.47" reinvestment="0" sales="4403454.03"/>
			<mon3Flow redemption="9926881.77" reinvestment="0" sales="6441110.12"/>
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				<name>ADVANCED DRAINAGE SYSTEMS IN</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>00790R104</cusip>
				<identifiers>
					<isin value="US00790R1041"/>
					<ticker value="WMS"/>
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				<units>NS</units>
				<curCd>USD</curCd>
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				<pctVal>0.4541587534</pctVal>
				<payoffProfile>Long</payoffProfile>
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				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
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			<invstOrSec>
				<name>AMC NETWORKS INC A</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>00164V103</cusip>
				<identifiers>
					<isin value="US00164V1035"/>
					<ticker value="AMCX"/>
				</identifiers>
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				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>3955490.5</valUSD>
				<pctVal>0.9125886628</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>BEACON ROOFING SUPPLY INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>073685109</cusip>
				<identifiers>
					<isin value="US0736851090"/>
					<ticker value="BECN"/>
				</identifiers>
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				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>3843708.18</valUSD>
				<pctVal>0.8867988706</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>CALLAWAY GOLF COMPANY</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>131193104</cusip>
				<identifiers>
					<isin value="US1311931042"/>
					<ticker value="ELY"/>
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				<balance>280400</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>5944480</valUSD>
				<pctVal>1.3714772047</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
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			</invstOrSec>
			<invstOrSec>
				<name>CARTER S INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>146229109</cusip>
				<identifiers>
					<isin value="US1462291097"/>
					<ticker value="CRI"/>
				</identifiers>
				<balance>63804</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>6976329.36</valUSD>
				<pctVal>1.6095397225</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<nonCashCollateralCondition isNonCashCollateral="Y" nonCashCollateralVal="2157630"/>
					<loanByFundCondition isLoanByFund="Y" loanVal="2157630"/>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>CATCHMARK TIMBER TRUST INC A</name>
				<lei>N/A</lei>
				<title>REIT USD.01</title>
				<cusip>14912Y202</cusip>
				<identifiers>
					<isin value="US14912Y2028"/>
					<ticker value="CTT"/>
				</identifiers>
				<balance>936169</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>10737858.43</valUSD>
				<pctVal>2.4773786881</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>RE</assetCat>
				<issuerCat>RF</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>CENTERSTATE BANK CORP</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>15201P109</cusip>
				<identifiers>
					<isin value="US15201P1093"/>
					<ticker value="CSFL"/>
				</identifiers>
				<balance>293315</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>7327008.7</valUSD>
				<pctVal>1.6904465001</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
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					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>CIENA CORP</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>171779309</cusip>
				<identifiers>
					<isin value="US1717793095"/>
					<ticker value="CIEN"/>
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				<balance>204129</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>8714267.01</valUSD>
				<pctVal>2.0105069846</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
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			</invstOrSec>
			<invstOrSec>
				<name>CLARIVATE ANALYTICS PLC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>G21810109</cusip>
				<identifiers>
					<isin value="JE00BJJN4441"/>
					<ticker value="CCC"/>
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				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>4943820</valUSD>
				<pctVal>1.1406105217</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>GB</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<cashCollateralCondition cashCollateralVal="3300400" isCashCollateral="Y"/>
					<nonCashCollateralCondition isNonCashCollateral="Y" nonCashCollateralVal="1972821.5"/>
					<loanByFundCondition isLoanByFund="Y" loanVal="5273221.5"/>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>COHERUS BIOSCIENCES INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.0001</title>
				<cusip>19249H103</cusip>
				<identifiers>
					<isin value="US19249H1032"/>
					<ticker value="CHRS"/>
				</identifiers>
				<balance>525000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>9452625</valUSD>
				<pctVal>2.1808568137</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
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					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>COLUMBIA SPORTSWEAR CO</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>198516106</cusip>
				<identifiers>
					<isin value="US1985161066"/>
					<ticker value="COLM"/>
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				<balance>68565</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>6869527.35</valUSD>
				<pctVal>1.5848989596</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
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					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>COMFORT SYSTEMS USA INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>199908104</cusip>
				<identifiers>
					<isin value="US1999081045"/>
					<ticker value="FIX"/>
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				<balance>168228</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>8386165.8</valUSD>
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				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>COMTECH TELECOMMUNICATIONS</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.1</title>
				<cusip>205826209</cusip>
				<identifiers>
					<isin value="US2058262096"/>
					<ticker value="CMTL"/>
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				<balance>64472</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>2288111.28</valUSD>
				<pctVal>0.5279002473</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
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			</invstOrSec>
			<invstOrSec>
				<name>CROCS INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.001</title>
				<cusip>227046109</cusip>
				<identifiers>
					<isin value="US2270461096"/>
					<ticker value="CROX"/>
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				<balance>110656</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>4635379.84</valUSD>
				<pctVal>1.0694489317</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>CUBESMART</name>
				<lei>N/A</lei>
				<title>REIT USD.01</title>
				<cusip>229663109</cusip>
				<identifiers>
					<isin value="US2296631094"/>
					<ticker value="CUBE"/>
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				<balance>200000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>6296000</valUSD>
				<pctVal>1.4525779346</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>RE</assetCat>
				<issuerCat>RF</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>DUNKIN  BRANDS GROUP INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.001</title>
				<cusip>265504100</cusip>
				<identifiers>
					<isin value="US2655041000"/>
					<ticker value="DNKN"/>
				</identifiers>
				<balance>70000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>5287800</valUSD>
				<pctVal>1.219971665</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>EMCOR GROUP INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>29084Q100</cusip>
				<identifiers>
					<isin value="US29084Q1004"/>
					<ticker value="EME"/>
				</identifiers>
				<balance>120002</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>10356172.6</valUSD>
				<pctVal>2.3893182665</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>ETSY INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.001</title>
				<cusip>29786A106</cusip>
				<identifiers>
					<isin value="US29786A1060"/>
					<ticker value="ETSY"/>
				</identifiers>
				<balance>39000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>1727700</valUSD>
				<pctVal>0.3986052887</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>EVERBRIDGE INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.001</title>
				<cusip>29978A104</cusip>
				<identifiers>
					<isin value="US29978A1043"/>
					<ticker value="EVBG"/>
				</identifiers>
				<balance>36709</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>2866238.72</valUSD>
				<pctVal>0.6612825794</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<nonCashCollateralCondition isNonCashCollateral="Y" nonCashCollateralVal="39648.5"/>
					<loanByFundCondition isLoanByFund="Y" loanVal="39648.5"/>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>EVOQUA WATER TECHNOLOGIES CO</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>30057T105</cusip>
				<identifiers>
					<isin value="US30057T1051"/>
					<ticker value="AQUA"/>
				</identifiers>
				<balance>225000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>4263750</valUSD>
				<pctVal>0.9837085719</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>FASTLY INC   CLASS A</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.00002</title>
				<cusip>31188V100</cusip>
				<identifiers>
					<isin value="US31188V1008"/>
					<ticker value="FSLY"/>
				</identifiers>
				<balance>135000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>2709450</valUSD>
				<pctVal>0.6251091622</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>FEDERAL SIGNAL CORP</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD1.0</title>
				<cusip>313855108</cusip>
				<identifiers>
					<isin value="US3138551086"/>
					<ticker value="FSS"/>
				</identifiers>
				<balance>80430</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>2593867.5</valUSD>
				<pctVal>0.5984426137</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>FLEX LTD</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>Y2573F102</cusip>
				<identifiers>
					<isin value="SG9999000020"/>
					<ticker value="FLEX"/>
				</identifiers>
				<balance>560000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>7067200</valUSD>
				<pctVal>1.6305048888</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>FORMFACTOR INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.001</title>
				<cusip>346375108</cusip>
				<identifiers>
					<isin value="US3463751087"/>
					<ticker value="FORM"/>
				</identifiers>
				<balance>32680</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>848699.6</valUSD>
				<pctVal>0.1958072287</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>FOUR CORNERS PROPERTY TRUST</name>
				<lei>N/A</lei>
				<title>REIT USD.0001</title>
				<cusip>35086T109</cusip>
				<identifiers>
					<isin value="US35086T1097"/>
					<ticker value="FCPT"/>
				</identifiers>
				<balance>396100</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>11166059</valUSD>
				<pctVal>2.5761707306</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>RE</assetCat>
				<issuerCat>RF</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>GREAT LAKES DREDGE + DOCK CO</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.0001</title>
				<cusip>390607109</cusip>
				<identifiers>
					<isin value="US3906071093"/>
					<ticker value="GLDD"/>
				</identifiers>
				<balance>534453</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>6055352.49</valUSD>
				<pctVal>1.397057086</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>HEALTHCARE REALTY TRUST INC</name>
				<lei>N/A</lei>
				<title>REIT USD.01</title>
				<cusip>421946104</cusip>
				<identifiers>
					<isin value="US4219461047"/>
					<ticker value="HR"/>
				</identifiers>
				<balance>335720</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>11202976.4</valUSD>
				<pctVal>2.5846881069</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>RE</assetCat>
				<issuerCat>RF</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>HOMETRUST BANCSHARES INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>437872104</cusip>
				<identifiers>
					<isin value="US4378721041"/>
					<ticker value="HTBI"/>
				</identifiers>
				<balance>907136</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>24338458.88</valUSD>
				<pctVal>5.6152332166</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>HORIZON THERAPEUTICS PLC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.0001</title>
				<cusip>G46188101</cusip>
				<identifiers>
					<isin value="IE00BQPVQZ61"/>
					<ticker value="HZNP"/>
				</identifiers>
				<balance>70000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>2534000</valUSD>
				<pctVal>0.5846303187</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>INFINERA CORP</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.001</title>
				<cusip>45667G103</cusip>
				<identifiers>
					<isin value="US45667G1031"/>
					<ticker value="INFN"/>
				</identifiers>
				<balance>557835</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>4429209.9</valUSD>
				<pctVal>1.0218825554</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<cashCollateralCondition cashCollateralVal="396225" isCashCollateral="Y"/>
					<nonCashCollateralCondition isNonCashCollateral="Y" nonCashCollateralVal="1785233.25"/>
					<loanByFundCondition isLoanByFund="Y" loanVal="2181458.25"/>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>INTEGRA LIFESCIENCES HOLDING</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>457985208</cusip>
				<identifiers>
					<isin value="US4579852082"/>
					<ticker value="IART"/>
				</identifiers>
				<balance>90000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>5245200</valUSD>
				<pctVal>1.2101432311</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>KNOWLES CORP</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>49926D109</cusip>
				<identifiers>
					<isin value="US49926D1090"/>
					<ticker value="KN"/>
				</identifiers>
				<balance>300000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>6345000</valUSD>
				<pctVal>1.4638829408</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>LIGAND PHARMACEUTICALS</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.001</title>
				<cusip>53220K504</cusip>
				<identifiers>
					<isin value="US53220K5048"/>
					<ticker value="LGND"/>
				</identifiers>
				<balance>76829</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>8012496.41</valUSD>
				<pctVal>1.8485983937</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<nonCashCollateralCondition isNonCashCollateral="Y" nonCashCollateralVal="8332920.75"/>
					<loanByFundCondition isLoanByFund="Y" loanVal="8332920.75"/>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>LIONS GATE ENTERTAINMENT B</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>535919500</cusip>
				<identifiers>
					<isin value="CA5359195008"/>
					<ticker value="LGF.B"/>
				</identifiers>
				<balance>300000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>2979000</valUSD>
				<pctVal>0.6872982318</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>MAPLE LEAF FOODS INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>564905958</cusip>
				<identifiers>
					<isin value="CA5649051078"/>
					<ticker value="MFI"/>
				</identifiers>
				<balance>545800</balance>
				<units>NS</units>
				<currencyConditional curCd="CAD" exchangeRt="1.298549999764"/>
				<valUSD>10877751.34</valUSD>
				<pctVal>2.5096539985</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>CA</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>MASTEC INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.1</title>
				<cusip>576323109</cusip>
				<identifiers>
					<isin value="US5763231090"/>
					<ticker value="MTZ"/>
				</identifiers>
				<balance>121609</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>7802433.44</valUSD>
				<pctVal>1.8001338392</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>MERIDIAN BANCORP INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>58958U103</cusip>
				<identifiers>
					<isin value="US58958U1034"/>
					<ticker value="EBSB"/>
				</identifiers>
				<balance>1059307</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>21281477.63</valUSD>
				<pctVal>4.9099435867</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>MRC GLOBAL INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>55345K103</cusip>
				<identifiers>
					<isin value="US55345K1034"/>
					<ticker value="MRC"/>
				</identifiers>
				<balance>628702</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>8575495.28</valUSD>
				<pctVal>1.9784903466</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>MSA SAFETY INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>553498106</cusip>
				<identifiers>
					<isin value="US5534981064"/>
					<ticker value="MSA"/>
				</identifiers>
				<balance>18615</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>2352191.4</valUSD>
				<pctVal>0.5426844545</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>NATIONAL VISION HOLDINGS INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>63845R107</cusip>
				<identifiers>
					<isin value="US63845R1077"/>
					<ticker value="EYE"/>
				</identifiers>
				<balance>157724</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>5114989.32</valUSD>
				<pctVal>1.1801017507</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>NATUS MEDICAL INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.001</title>
				<cusip>639050103</cusip>
				<identifiers>
					<isin value="US6390501038"/>
					<ticker value="NTUS"/>
				</identifiers>
				<balance>580122</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>19138224.78</valUSD>
				<pctVal>4.4154642667</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>NUVASIVE INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.001</title>
				<cusip>670704105</cusip>
				<identifiers>
					<isin value="US6707041058"/>
					<ticker value="NUVA"/>
				</identifiers>
				<balance>60000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>4640400</valUSD>
				<pctVal>1.070607155</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>ONE GAS INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>68235P108</cusip>
				<identifiers>
					<isin value="US68235P1084"/>
					<ticker value="OGS"/>
				</identifiers>
				<balance>46706</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>4370280.42</valUSD>
				<pctVal>1.0082866751</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>ORBCOMM INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.001</title>
				<cusip>68555P100</cusip>
				<identifiers>
					<isin value="US68555P1003"/>
					<ticker value="ORBC"/>
				</identifiers>
				<balance>847082</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>3566215.22</valUSD>
				<pctVal>0.8227772457</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>PERFORMANCE FOOD GROUP CO</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>71377A103</cusip>
				<identifiers>
					<isin value="US71377A1034"/>
					<ticker value="PFGC"/>
				</identifiers>
				<balance>120559</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>6206377.32</valUSD>
				<pctVal>1.4319006908</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<nonCashCollateralCondition isNonCashCollateral="Y" nonCashCollateralVal="5847111.5"/>
					<loanByFundCondition isLoanByFund="Y" loanVal="5847111.5"/>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>REALPAGE INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.001</title>
				<cusip>75606N109</cusip>
				<identifiers>
					<isin value="US75606N1090"/>
					<ticker value="RP"/>
				</identifiers>
				<balance>90000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>4837500</valUSD>
				<pctVal>1.1160809655</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>RUBICON PROJECT INC/THE</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.00001</title>
				<cusip>78112V102</cusip>
				<identifiers>
					<isin value="US78112V1026"/>
					<ticker value="RUBI"/>
				</identifiers>
				<balance>750000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>6120000</valUSD>
				<pctVal>1.4119721982</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>SCANSOURCE INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>806037107</cusip>
				<identifiers>
					<isin value="US8060371072"/>
					<ticker value="SCSC"/>
				</identifiers>
				<balance>71528</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>2642959.6</valUSD>
				<pctVal>0.6097688687</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>SIMPLY GOOD FOODS CO/THE</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.0001</title>
				<cusip>82900L102</cusip>
				<identifiers>
					<isin value="US82900L1026"/>
					<ticker value="SMPL"/>
				</identifiers>
				<balance>28349</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>809080.46</valUSD>
				<pctVal>0.1866665222</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>SMARTSHEET INC CLASS A</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>83200N103</cusip>
				<identifiers>
					<isin value="US83200N1037"/>
					<ticker value="SMAR"/>
				</identifiers>
				<balance>50000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>2246000</valUSD>
				<pctVal>0.5181845682</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>SSC GOVERNMENT MM GVMXX</name>
				<lei>N/A</lei>
				<title>SSC GOVERNMENT MM GVMXX</title>
				<cusip>7839989D1</cusip>
				<identifiers>
					<isin value="N/A"/>
				</identifiers>
				<balance>20456385.93</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>20456385.93</valUSD>
				<pctVal>4.7195830407</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>STIV</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>TECHTARGET</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.001</title>
				<cusip>87874R100</cusip>
				<identifiers>
					<isin value="US87874R1005"/>
					<ticker value="TTGT"/>
				</identifiers>
				<balance>207197</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>5407841.7</valUSD>
				<pctVal>1.2476670152</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>THERMON GROUP HOLDINGS INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.001</title>
				<cusip>88362T103</cusip>
				<identifiers>
					<isin value="US88362T1034"/>
					<ticker value="THR"/>
				</identifiers>
				<balance>384712</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>10310281.6</valUSD>
				<pctVal>2.3787305515</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>THOR INDUSTRIES INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.1</title>
				<cusip>885160101</cusip>
				<identifiers>
					<isin value="US8851601018"/>
					<ticker value="THO"/>
				</identifiers>
				<balance>65000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>4828850</valUSD>
				<pctVal>1.1140852858</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<nonCashCollateralCondition isNonCashCollateral="Y" nonCashCollateralVal="1047574.5"/>
					<loanByFundCondition isLoanByFund="Y" loanVal="1047574.5"/>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>UNITIL CORP</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>913259107</cusip>
				<identifiers>
					<isin value="US9132591077"/>
					<ticker value="UTL"/>
				</identifiers>
				<balance>120929</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>7475830.78</valUSD>
				<pctVal>1.7247818987</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>UNIVEST FINANCIAL CORP</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD5.0</title>
				<cusip>915271100</cusip>
				<identifiers>
					<isin value="US9152711001"/>
					<ticker value="UVSP"/>
				</identifiers>
				<balance>329507</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>8824197.46</valUSD>
				<pctVal>2.0358695237</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>VERRA MOBILITY CORP</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.0001</title>
				<cusip>92511U102</cusip>
				<identifiers>
					<isin value="US92511U1025"/>
					<ticker value="VRRM"/>
				</identifiers>
				<balance>425000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>5945750</valUSD>
				<pctVal>1.371770212</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>VICTORY CAPITAL HOLDING   A</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>92645B103</cusip>
				<identifiers>
					<isin value="US92645B1035"/>
					<ticker value="VCTR"/>
				</identifiers>
				<balance>1050736</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>22033933.92</valUSD>
				<pctVal>5.0835460968</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<cashCollateralCondition cashCollateralVal="76440" isCashCollateral="Y"/>
					<isNonCashCollateral>N</isNonCashCollateral>
					<loanByFundCondition isLoanByFund="Y" loanVal="76440"/>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>WHITE MOUNTAINS INSURANCE GP</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD1.0</title>
				<cusip>G9618E107</cusip>
				<identifiers>
					<isin value="BMG9618E1075"/>
					<ticker value="WTM"/>
				</identifiers>
				<balance>8135</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>9074673.85</valUSD>
				<pctVal>2.0936580366</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>WRIGHT MEDICAL GROUP NV</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.03</title>
				<cusip>N96617118</cusip>
				<identifiers>
					<isin value="NL0011327523"/>
					<ticker value="WMGI"/>
				</identifiers>
				<balance>314300</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>9579864</valUSD>
				<pctVal>2.2102126847</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>NL</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>WYNDHAM HOTELS + RESORTS INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>98311A105</cusip>
				<identifiers>
					<isin value="US98311A1051"/>
					<ticker value="WH"/>
				</identifiers>
				<balance>158770</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>9972343.7</valUSD>
				<pctVal>2.3007634077</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>ZUORA INC   CLASS A</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>98983V106</cusip>
				<identifiers>
					<isin value="US98983V1061"/>
					<ticker value="ZUO"/>
				</identifiers>
				<balance>215000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>3080950</valUSD>
				<pctVal>0.710819566</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
		</invstOrSecs>
		<signature>
			<ncom:dateSigned>2020-02-26</ncom:dateSigned>
			<ncom:nameOfApplicant>PAX WORLD FUNDS SERIES TRUST I</ncom:nameOfApplicant>
			<ncom:signature>/s/ Alicia DuBois</ncom:signature>
			<ncom:signerName>Alicia DuBois</ncom:signerName>
			<ncom:title>Treasurer</ncom:title>
		</signature>
	</formData>
</edgarSubmission>
