<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/nport" xmlns:com="http://www.sec.gov/edgar/common" xmlns:ncom="http://www.sec.gov/edgar/nportcommon" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.sec.gov/edgar/nport eis_NPORT_Filer.xsd">
	<headerData>
		<submissionType>NPORT-P</submissionType>
		<isConfidential>false</isConfidential>
		<filerInfo>

			<filer>
				<issuerCredentials>
					<cik>0000076721</cik>
					<ccc>XXXXXXXX</ccc>
				</issuerCredentials>
			</filer>

			<seriesClassInfo>
				<seriesId>S000021459</seriesId>
				<classId>C000061360</classId>
				<classId>C000061361</classId>
				<classId>C000128850</classId>
			</seriesClassInfo>


		</filerInfo>
	</headerData>
	<formData>
		<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>2020-12-31</repPdEnd>
			<repPdDate>2020-09-30</repPdDate>
			<isFinalFiling>N</isFinalFiling>
		</genInfo>
		<fundInfo>
			<totAssets>364226591.4</totAssets>
			<totLiabs>1401524.11</totLiabs>
			<netAssets>362825067.29</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>35318.84</cshNotRptdInCorD>
			<borrowers>
				<borrower aggrVal="14003184.59" lei="G5GSEF7VJP5I7OUK5573" name="BARCLAYS BANK PLC"/>
				<borrower aggrVal="5198366.55" lei="AC28XWWI3WIBK2824319" name="BARCLAYS CAPITAL INC."/>
				<borrower aggrVal="2891.4" lei="N/A" name="BMO CAPITAL MARKETS CORP."/>
				<borrower aggrVal="2670866.4" lei="N/A" name="BOFA SECURITIES, INC."/>
				<borrower aggrVal="50457" lei="N/A" name="CITADEL SECURITIES LLC"/>
				<borrower aggrVal="1257385.27" lei="1V8Y6QCX6YMJ2OELII46" name="CREDIT SUISSE SECURITIES (USA) LLC"/>
				<borrower aggrVal="1729240.2" lei="N/A" name="DEUTSCHE BANK SECURITIES INC."/>
				<borrower aggrVal="16974733.89" lei="ZBUT11V806EZRVTWT807" name="JP MORGAN SECURITIES LLC"/>
				<borrower aggrVal="6689267.61" lei="N/A" name="NATIONAL FINANCIAL SERVICES LLC"/>
				<borrower aggrVal="152448" lei="N/A" name="RBC CAPITAL MARKETS, LLC"/>
				<borrower aggrVal="9651965.42" lei="N/A" name="UBS AG"/>
			</borrowers>
			<aggregateCondition isNonCashCollateral="Y">
				<aggregateInfos>
					<aggregateInfo amt="26386093.32" collatrl="27915702.77">
						<invstCat>UST</invstCat>
					</aggregateInfo>
					<aggregateInfo amt="13654125.5" collatrl="13679843.51">
						<invstCatConditional invstCat="other instrument" otherDesc="Sovereign Debt"/>
					</aggregateInfo>
				</aggregateInfos>
			</aggregateCondition>
			<returnInfo>
				<monthlyTotReturns>
					<monthlyTotReturn classId="C000061360" rtn1="-3.55" rtn2="2.72" rtn3="2.71"/>
					<monthlyTotReturn classId="C000061361" rtn1="-3.58" rtn2="2.76" rtn3="2.76"/>
					<monthlyTotReturn classId="C000128850" rtn1="-3.64" rtn2="2.8" rtn3="2.72"/>
				</monthlyTotReturns>
				<monthlyReturnCats/>
				<othMon1 netRealizedGain="2993251.41" netUnrealizedAppr="-16515473.64"/>
				<othMon2 netRealizedGain="1909864.79" netUnrealizedAppr="8319091.03"/>
				<othMon3 netRealizedGain="440233.37" netUnrealizedAppr="9803586.44"/>
			</returnInfo>
			<mon1Flow redemption="11805012.87" reinvestment="0" sales="6698833.74"/>
			<mon2Flow redemption="9695565.31" reinvestment="0" sales="6093271.9"/>
			<mon3Flow redemption="9260965.63" reinvestment="0" sales="5727775.79"/>
		</fundInfo>
		<invstOrSecs>
			<invstOrSec>
				<name>SSC GOVERNMENT MM GVMXX</name>
				<lei>N/A</lei>
				<title>SSC GOVERNMENT MM GVMXX</title>
				<cusip>7839989D1</cusip>
				<identifiers>
					<other otherDesc="Additional identifier not available." value="N/A"/>
				</identifiers>
				<balance>12342592.76</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>12342592.76</valUSD>
				<pctVal>3.4018026517</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>CUBESMART</name>
				<lei>N/A</lei>
				<title>REIT USD.01</title>
				<cusip>229663109</cusip>
				<identifiers>
					<isin value="US2296631094"/>
					<ticker value="CUBE"/>
				</identifiers>
				<balance>300000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>9693000</valUSD>
				<pctVal>2.6715353689</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>1037736</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>14092454.88</valUSD>
				<pctVal>3.8840907507</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>WORKIVA INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.001</title>
				<cusip>98139A105</cusip>
				<identifiers>
					<isin value="US98139A1051"/>
					<ticker value="WK"/>
				</identifiers>
				<balance>90000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>5018400</valUSD>
				<pctVal>1.3831458883</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>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>400000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>3488000</valUSD>
				<pctVal>0.9613448227</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>292182</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>3021161.88</valUSD>
				<pctVal>0.8326772741</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="899932"/>
					<loanByFundCondition isLoanByFund="Y" loanVal="845936.08"/>
				</securityLending>
			</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>5524150.32</valUSD>
				<pctVal>1.5225382197</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>379712</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>4264165.76</valUSD>
				<pctVal>1.1752676825</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>88106</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>6080195.06</valUSD>
				<pctVal>1.6757924433</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>VOYA FINANCIAL INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>929089100</cusip>
				<identifiers>
					<isin value="US9290891004"/>
					<ticker value="VOYA"/>
				</identifiers>
				<balance>162006</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>7764947.58</valUSD>
				<pctVal>2.1401353655</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>SI BONE INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.0001</title>
				<cusip>825704109</cusip>
				<identifiers>
					<isin value="US8257041090"/>
					<ticker value="SIBN"/>
				</identifiers>
				<balance>258706</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>6136506.32</valUSD>
				<pctVal>1.6913126664</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>MONTROSE ENVIRONMENTAL GROUP</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>615111101</cusip>
				<identifiers>
					<isin value="US6151111019"/>
					<ticker value="MEG"/>
				</identifiers>
				<balance>36659</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>873217.38</valUSD>
				<pctVal>0.2406717338</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>AZEK CO INC/THE</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>05478C105</cusip>
				<identifiers>
					<isin value="US05478C1053"/>
					<ticker value="AZEK"/>
				</identifiers>
				<balance>110000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>3829100</valUSD>
				<pctVal>1.0553570702</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>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"/>
				</identifiers>
				<balance>113228</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>5832374.28</valUSD>
				<pctVal>1.6074893401</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>II VI INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>902104108</cusip>
				<identifiers>
					<isin value="US9021041085"/>
					<ticker value="IIVI"/>
				</identifiers>
				<balance>100000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>4056000</valUSD>
				<pctVal>1.1178940943</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="4200000"/>
					<loanByFundCondition isLoanByFund="Y" loanVal="4056000"/>
				</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>13835</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>10777465</valUSD>
				<pctVal>2.9704300975</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>8X8 INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.001</title>
				<cusip>282914100</cusip>
				<identifiers>
					<isin value="US2829141009"/>
					<ticker value="EGHT"/>
				</identifiers>
				<balance>220000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>3421000</valUSD>
				<pctVal>0.9428786235</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>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>5733700</valUSD>
				<pctVal>1.5802932369</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>524396</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>8982903.48</valUSD>
				<pctVal>2.4758221771</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>UNITIL CORP</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>913259107</cusip>
				<identifiers>
					<isin value="US9132591077"/>
					<ticker value="UTL"/>
				</identifiers>
				<balance>117012</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>4521343.68</valUSD>
				<pctVal>1.246149753</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>VOCERA COMMUNICATIONS INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.0003</title>
				<cusip>92857F107</cusip>
				<identifiers>
					<isin value="US92857F1075"/>
					<ticker value="VCRA"/>
				</identifiers>
				<balance>150790</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>4384973.2</valUSD>
				<pctVal>1.2085640148</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>300720</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>9057686.4</valUSD>
				<pctVal>2.4964334652</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>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>75002</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>5078385.42</valUSD>
				<pctVal>1.3996787647</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>795926</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>8866615.64</valUSD>
				<pctVal>2.443771514</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>25615</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>3436764.55</valUSD>
				<pctVal>0.9472235686</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>QUINSTREET INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.001</title>
				<cusip>74874Q100</cusip>
				<identifiers>
					<isin value="US74874Q1004"/>
					<ticker value="QNST"/>
				</identifiers>
				<balance>150000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>2376000</valUSD>
				<pctVal>0.6548610375</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>NEXSTAR MEDIA GROUP INC CL A</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>65336K103</cusip>
				<identifiers>
					<isin value="US65336K1034"/>
					<ticker value="NXST"/>
				</identifiers>
				<balance>55000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>4946150</valUSD>
				<pctVal>1.3632327107</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>CROCS INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.001</title>
				<cusip>227046109</cusip>
				<identifiers>
					<isin value="US2270461096"/>
					<ticker value="CROX"/>
				</identifiers>
				<balance>125000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>5341250</valUSD>
				<pctVal>1.4721281636</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>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>675000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>12379500</valUSD>
				<pctVal>3.4119748375</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="8678131"/>
					<loanByFundCondition isLoanByFund="Y" loanVal="8267892.08"/>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>COLFAX CORP</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.001</title>
				<cusip>194014106</cusip>
				<identifiers>
					<isin value="US1940141062"/>
					<ticker value="CFX"/>
				</identifiers>
				<balance>120000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>3763200</valUSD>
				<pctVal>1.0371940473</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>FOX FACTORY HOLDING CORP</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.001</title>
				<cusip>35138V102</cusip>
				<identifiers>
					<isin value="US35138V1026"/>
					<ticker value="FOXF"/>
				</identifiers>
				<balance>25000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>1858250</valUSD>
				<pctVal>0.5121614154</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>CIENA CORP</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>171779309</cusip>
				<identifiers>
					<isin value="US1717793095"/>
					<ticker value="CIEN"/>
				</identifiers>
				<balance>94129</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>3735980.01</valUSD>
				<pctVal>1.0296918121</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>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>125900</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>7256876</valUSD>
				<pctVal>2.0001032603</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>BJ S WHOLESALE CLUB HOLDINGS</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>05550J101</cusip>
				<identifiers>
					<isin value="US05550J1016"/>
					<ticker value="BJ"/>
				</identifiers>
				<balance>115000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>4778250</valUSD>
				<pctVal>1.3169569665</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>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>434453</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>4131648.03</valUSD>
				<pctVal>1.1387438197</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>ONTO INNOVATION INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>683344105</cusip>
				<identifiers>
					<isin value="US6833441057"/>
					<ticker value="ONTO"/>
				</identifiers>
				<balance>167052</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>4974808.56</valUSD>
				<pctVal>1.3711314373</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>1063234</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>17958022.26</valUSD>
				<pctVal>4.9494987747</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<cashCollateralCondition cashCollateralVal="6441684.75" isCashCollateral="Y"/>
					<nonCashCollateralCondition isNonCashCollateral="Y" nonCashCollateralVal="1233081.75"/>
					<loanByFundCondition isLoanByFund="Y" loanVal="7514597.46"/>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>SPROUT SOCIAL INC   CLASS A</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.0001</title>
				<cusip>85209W109</cusip>
				<identifiers>
					<isin value="US85209W1099"/>
					<ticker value="SPT"/>
				</identifiers>
				<balance>145000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>5582500</valUSD>
				<pctVal>1.5386202617</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>125567</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>11969046.44</valUSD>
				<pctVal>3.2988477145</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<cashCollateralCondition cashCollateralVal="9535219.25" isCashCollateral="Y"/>
					<isNonCashCollateral>N</isNonCashCollateral>
					<loanByFundCondition isLoanByFund="Y" loanVal="9298180.04"/>
				</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>1003702</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>4295844.56</valUSD>
				<pctVal>1.1839988323</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>LAIRD SUPERFOOD INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.001</title>
				<cusip>50736T102</cusip>
				<identifiers>
					<isin value="US50736T1025"/>
					<ticker value="LSF"/>
				</identifiers>
				<balance>60000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>2752200</valUSD>
				<pctVal>0.7585473684</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>VERTIV HOLDINGS CO</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.0001</title>
				<cusip>92537N108</cusip>
				<identifiers>
					<isin value="US92537N1081"/>
					<ticker value="VRT"/>
				</identifiers>
				<balance>375000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>6495000</valUSD>
				<pctVal>1.7901188715</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>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>250000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>5305000</valUSD>
				<pctVal>1.4621371229</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>HEALTH CATALYST INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.001</title>
				<cusip>42225T107</cusip>
				<identifiers>
					<isin value="US42225T1079"/>
					<ticker value="HCAT"/>
				</identifiers>
				<balance>200000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>7320000</valUSD>
				<pctVal>2.0175011762</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<cashCollateralCondition cashCollateralVal="1786556.5" isCashCollateral="Y"/>
					<nonCashCollateralCondition isNonCashCollateral="Y" nonCashCollateralVal="3705011.5"/>
					<loanByFundCondition isLoanByFund="Y" loanVal="5324275.2"/>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>KARUNA THERAPEUTICS INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.00001</title>
				<cusip>48576A100</cusip>
				<identifiers>
					<isin value="US48576A1007"/>
					<ticker value="KRTX"/>
				</identifiers>
				<balance>60850</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>4704922</valUSD>
				<pctVal>1.2967466761</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="4328523"/>
					<loanByFundCondition isLoanByFund="Y" loanVal="4144661.28"/>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>MAGNITE INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.00001</title>
				<cusip>55955D100</cusip>
				<identifiers>
					<isin value="US55955D1000"/>
					<ticker value="MGNI"/>
				</identifiers>
				<balance>867028</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>6021509.46</valUSD>
				<pctVal>1.6596178166</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="4801853"/>
					<loanByFundCondition isLoanByFund="Y" loanVal="4764124.08"/>
				</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>5131899.8</valUSD>
				<pctVal>1.414428126</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>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>8359989.17</valUSD>
				<pctVal>2.3041377026</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>MERIDIAN BANCORP INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>58958U103</cusip>
				<identifiers>
					<isin value="US58958U1034"/>
					<ticker value="EBSB"/>
				</identifiers>
				<balance>1168321</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>12092122.35</valUSD>
				<pctVal>3.332769271</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>180000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>3969000</valUSD>
				<pctVal>1.0939155967</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>158424</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>6058133.76</valUSD>
				<pctVal>1.66971202</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>GATES INDUSTRIAL CORP PLC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>G39108108</cusip>
				<identifiers>
					<isin value="GB00BD9G2S12"/>
					<ticker value="GTES"/>
				</identifiers>
				<balance>265000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>2946800</valUSD>
				<pctVal>0.8121820309</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>SEMTECH CORP</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>816850101</cusip>
				<identifiers>
					<isin value="US8168501018"/>
					<ticker value="SMTC"/>
				</identifiers>
				<balance>66591</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>3526659.36</valUSD>
				<pctVal>0.971999919</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>WILLIAMS SONOMA INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>969904101</cusip>
				<identifiers>
					<isin value="US9699041011"/>
					<ticker value="WSM"/>
				</identifiers>
				<balance>20000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>1808800</valUSD>
				<pctVal>0.4985322578</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>DARLING INGREDIENTS INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>237266101</cusip>
				<identifiers>
					<isin value="US2372661015"/>
					<ticker value="DAR"/>
				</identifiers>
				<balance>225000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>8106750</valUSD>
				<pctVal>2.2343412104</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"/>
				</identifiers>
				<balance>184668</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>3534545.52</valUSD>
				<pctVal>0.9741734623</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>EXELIXIS INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.001</title>
				<cusip>30161Q104</cusip>
				<identifiers>
					<isin value="US30161Q1040"/>
					<ticker value="EXEL"/>
				</identifiers>
				<balance>250000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>6112500</valUSD>
				<pctVal>1.6846961666</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>CAE INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>124765959</cusip>
				<identifiers>
					<isin value="CA1247651088"/>
					<ticker value="CAE"/>
				</identifiers>
				<balance>220000</balance>
				<units>NS</units>
				<currencyConditional curCd="CAD" exchangeRt="1.331550000042"/>
				<valUSD>3218504.75</valUSD>
				<pctVal>0.8870679124</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>TREEHOUSE FOODS INC</name>
				<lei>N/A</lei>
				<title>COMMON STOCK USD.01</title>
				<cusip>89469A104</cusip>
				<identifiers>
					<isin value="US89469A1043"/>
					<ticker value="THS"/>
				</identifiers>
				<balance>60000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>2431800</valUSD>
				<pctVal>0.6702403498</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>835411</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>2840397.4</valUSD>
				<pctVal>0.7828558873</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>345800</balance>
				<units>NS</units>
				<currencyConditional curCd="CAD" exchangeRt="1.331550000407"/>
				<valUSD>7050782.92</valUSD>
				<pctVal>1.9433009336</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>
		</invstOrSecs>
		<signature>
			<ncom:dateSigned>2020-11-30</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>
	<documents>XXXX</documents>
</edgarSubmission>
