Schedule of Portfolio Investments
Praxis Impact Bond Fund
September 30, 2020 (Unaudited)
MUNICIPAL BONDS - 1.2%	Coupon		Maturity		Principal Amount		Fair Value
American Municipal Power Ohio, Inc., Rev. Taxable-Hydroelectric Projects, Series 2010-A,	7.334	%	02/15/28	$	1,000,000	$	1,305,940
City of San Francisco, California, Public Utilities Comm. Water Rev., Series 2019-A,	3.303	%	11/01/39		2,000,000		2,160,120
Findlay City School District, Series 2010-B,	6.250	%	12/01/37		270,000		271,039
Houston, Texas, Independent School District, Series 2009A-2,	6.168	%	02/15/34		1,000,000		1,004,330
Massachusetts St., Series 2016-F,	3.277	%	06/01/46		1,500,000		1,710,540
New Jersey St. Housing & Mortgage Finance, Series 2013-C,	2.600	%	07/01/23		165,000		168,625
Osceola County Housing Finance Authority Rev., Series 2013-B,	3.350	%	07/01/23		125,000		133,646
St. Paul, Minnesota, Housing & Redevelopment Authority Rev., Series 2015-B,	2.993	%	07/01/21		1,250,000		1,265,450
TOTAL MUNICIPAL BONDS (COST $7,568,354)						$	8,019,690
CORPORATE BONDS - 46.0%	Coupon		Maturity		Principal Amount		Fair Value
APPAREL & TEXTILE PRODUCTS - 0.2%
Hanesbrands, Inc. (a)	4.625	%	05/15/24	$	500,000	$	519,895
VF Corp.	2.400	%	04/23/25		536,000		568,567
							1,088,462
ASSET MANAGEMENT - 0.1%
Ameriprise Financial, Inc.	3.000	%	04/02/25		730,000		798,487
AUTOMOTIVE - 1.0%
American Honda Finance Corp.	3.550	%	01/12/24		357,000		389,524
BMW US Capital, LLC (a)	3.800	%	04/06/23		1,000,000		1,077,438
BorgWarner, Inc.	2.650	%	07/01/27		601,000		634,246
Hyundai Capital Services, Inc. (a)	2.875	%	03/16/21		1,250,000		1,260,977
Magna International, Inc.	2.450	%	06/15/30		1,250,000		1,316,696
Toyota Motor Credit Corp., Series B	2.900	%	03/30/23		1,735,000		1,839,526
							6,518,407

Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
CORPORATE BONDS - 46.0% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
BANKING - 5.8%
Axis Bank/Dubai Ltd. (a)		2.875	%		06/01/21	$	500,000	$	501,000
Bank of America Corp.		3.499	%		05/17/22		1,000,000		1,018,748
Bank of America Corp.		3.300	%		01/11/23		500,000		530,744
Bank of America Corp.		3.335	%		01/25/23		1,000,000		1,037,698
Bank of America Corp.		4.100	%		07/24/23		1,000,000		1,094,808
Bank of America Corp.		0.981	%		09/25/25		1,500,000		1,499,655
Bank of America Corp.		2.456	%		10/22/25		1,000,000		1,054,328
Bank of America Corp. (b)		4.271	%		07/23/29		1,000,000		1,173,062
Bank of Montreal		3.300	%		02/05/24		1,000,000		1,083,352
Citigroup, Inc.		3.875	%		10/25/23		1,000,000		1,095,076
Citigroup, Inc. (b)		1.678	%		05/15/24		1,250,000		1,280,524
Citigroup, Inc.		3.700	%		01/12/26		1,750,000		1,961,056
Citigroup, Inc. (b)		2.572	%		06/03/30		1,000,000		1,048,070
Discover Bank/Greenwood DE		4.200	%		08/08/23		1,255,000		1,374,074
Fifth Third Bank		3.650	%		01/25/24		1,250,000		1,363,621
ING Groep N.V. (a)		4.625	%		01/06/26		1,250,000		1,466,088
JPMorgan Chase & Co.		3.250	%		09/23/22		1,500,000		1,585,470
JPMorgan Chase & Co.		0.653	%		09/16/24		1,000,000		1,000,380
JPMorgan Chase & Co.		3.200	%		06/15/26		2,557,000		2,838,257
JPMorgan Chase & Co.		2.739	%		10/15/30		2,000,000		2,142,664
Key Bank, N.A.		1.250	%		03/10/23		1,750,000		1,782,323
Mitsubishi UFJ Financial Group		2.527	%		09/13/23		1,250,000		1,322,275
National Australia Bank, New York Branch		3.625	%		06/20/23		1,750,000		1,895,334
National Bank of Canada (a)		2.150	%		10/07/22		1,250,000		1,289,038
PNC Bank N.A.		3.500	%		06/08/23		1,285,000		1,381,092
Regions Financial Corp.		2.250	%		05/18/25		1,000,000		1,056,166
Sumitomo Mitsui Banking Corp.		2.450	%		10/20/20		1,250,000		1,251,388
Toronto-Dominion Bank (b)		0.510	%		09/28/23		2,000,000		2,000,596
Truist Financial Corp.		1.250	%		03/09/23		1,750,000		1,781,469
									39,908,356
BEVERAGES - 0.5%
Coca-Cola Co. (The)		3.450	%		03/25/30		500,000		589,650
Coca-Cola Femsa S.A.B. de C.V.		1.850	%		09/01/32		1,000,000		1,002,200
PepsiCo, Inc.		2.250	%		03/19/25		2,000,000		2,142,286
									3,734,136
BIOTECH & PHARMA - 0.7%
AbbVie, Inc. (a)		2.950	%		11/21/26		500,000		544,614
Biogen, Inc.		2.250	%		05/01/30		500,000		512,039

Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
CORPORATE BONDS - 46.0% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
BIOTECH & PHARMA - 0.7% (Continued)
Gilead Sciences, Inc.		3.650	%		03/01/26	$	750,000	$	845,434
Zeneca Wilmington, Inc.		7.000	%		11/15/23		1,100,000		1,311,280
Zoetis, Inc.		3.250	%		02/01/23		1,200,000		1,266,144
									4,479,511
CABLE & SATELLITE - 0.3%
Comcast Corp.		3.300	%		04/01/27		500,000		565,375
Comcast Corp.		4.750	%		03/01/44		500,000		658,765
Time Warner Cable, Inc.		4.500	%		09/15/42		500,000		543,132
									1,767,272
CHEMICALS - 1.4%
Air Products & Chemicals, Inc.		2.050	%		05/15/30		500,000		524,827
Avery Dennison Corp.		2.650	%		04/30/30		1,250,000		1,326,779
DowDuPont, Inc.		4.493	%		11/15/25		1,500,000		1,728,990
Ecolab, Inc.		4.800	%		03/24/30		140,000		178,576
Ecolab, Inc.		5.500	%		12/08/41		250,000		360,082
Ecolab, Inc.		3.950	%		12/01/47		1,220,000		1,542,720
LG Chemical Ltd. (a)		3.250	%		10/15/24		290,000		312,236
NOVA Chemicals Corp. (a)		5.250	%		08/01/23		500,000		492,500
Nutrien Ltd.		1.900	%		05/13/23		800,000		825,824
Nutrien Ltd.		5.875	%		12/01/36		840,000		1,071,797
Solvay Finance S.A. (a)		4.450	%		12/03/25		1,250,000		1,407,100
									9,771,431
CONSTRUCTION MATERIALS - 0.4%
Carlisle Cos., Inc.		3.500	%		12/01/24		1,250,000		1,370,262
Owens Corning		4.200	%		12/01/24		1,000,000		1,102,180
Owens Corning		3.950	%		08/15/29		300,000		339,837
									2,812,279
CONSUMER SERVICES - 2.3%
Andrew W. Mellon Funding		0.947	%		08/01/27		1,050,000		1,050,852
Conservation Fund, Series 2019		3.474	%		12/15/29		535,000		592,496
Ford Foundation (The), Series 2017		3.859	%		06/01/47		2,485,000		3,233,973
John D. & Catherine T. MacArthur Foundation, Series 2020		1.299	%		12/01/30		1,500,000		1,495,960
Local Initiatives Support Corp.		4.649	%		03/01/37		1,500,000		1,785,085
Massachusetts Institute of Technology		3.959	%		07/01/38		1,500,000		1,864,180
President & Fellows of Harvard College		3.150	%		07/15/46		2,961,000		3,434,109
University of Notre Dame, Series 2017		3.394	%		02/15/48		2,000,000		2,344,577
									15,801,232

Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
CORPORATE BONDS - 46.0% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
CONTAINERS & PACKAGING - 0.5%
CCL Industries, Inc. (a)		3.050	%		06/01/30	$	1,750,000	$	1,867,918
Sonoco Products Co.		5.750	%		11/01/40		1,000,000		1,297,248
									3,165,166
DIVERSIFIED INDUSTRIALS - 0.2%
Illinois Tool Works, Inc.		3.900	%		09/01/42		1,000,000		1,247,569
ELECTRIC UTILITIES - 5.5%
Avangrid, Inc.		3.150	%		12/01/24		1,800,000		1,957,694
Caledonia Generating, LLC (a)		1.950	%		02/28/22		158,484		160,167
Consolidated Edison Co.		3.350	%		04/01/30		1,000,000		1,151,360
DTE Electric Co.		4.050	%		05/15/48		1,750,000		2,205,125
Duke Energy, LLC		3.450	%		03/15/29		1,750,000		2,020,218
Electricite de France S.A. (a)		3.625	%		10/13/25		1,250,000		1,399,704
Enel Finance International N.V. (a)		2.650	%		09/10/24		1,250,000		1,325,340
Florida Power & Light Co.		3.700	%		12/01/47		1,300,000		1,581,660
Georgia Power Co.		3.250	%		04/01/26		1,000,000		1,108,536
Interstate Power & Light Co.		3.600	%		04/01/29		1,250,000		1,440,386
Liberty Utilities Financial Services (a)		2.050	%		09/15/30		355,000		349,973
MidAmerican Energy Co.		3.950	%		08/01/47		1,750,000		2,196,383
Midland Cogeneration Venture, L.P. (a)		5.250	%		03/15/25		122,176		120,197
Midland Cogeneration Venture, L.P. (a)		6.000	%		03/15/25		325,591		336,366
Narragansett Electric Co. (a)		3.395	%		04/09/30		1,500,000		1,710,127
National Rural Utilities		1.350	%		03/15/31		1,000,000		995,736
Niagara Mohawk Power Corp. (a)		1.960	%		06/27/30		1,500,000		1,539,654
Northern States Power Co.		2.900	%		03/01/50		1,250,000		1,338,555
NSTAR Electric Co.		3.950	%		04/01/30		600,000		725,781
NSTAR Electric Co.		5.500	%		03/15/40		1,250,000		1,758,345
Pacificorp		8.080	%		10/14/22		500,000		567,390
Potomac Electric Power Co.		6.500	%		11/15/37		1,000,000		1,513,969
Public Service Colorado		3.700	%		06/15/28		1,750,000		2,042,299
Puget Energy, Inc.		5.625	%		07/15/22		750,000		803,677
Puget Sound Energy, Inc.		4.223	%		06/15/48		1,000,000		1,248,887
San Diego Gas and Electric Co.		4.500	%		08/15/40		841,000		1,025,106
Solar Star Funding, LLC (a)		3.950	%		06/30/35		288,944		300,412

Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
CORPORATE BONDS - 46.0% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
ELECTRIC UTILITIES - 5.5% (Continued)
Solar Star Funding, LLC (a)		5.375	%		06/30/35	$	444,424	$	518,780
Southern California Edison		4.050	%		03/15/42		1,165,000		1,257,182
Tenaska Virginia Partners, L.P. (a)		6.119	%		03/30/24		534,795		570,973
Topaz Solar Farms, LLC (a)		4.875	%		09/30/39		254,941		282,347
Topaz Solar Farms, LLC (a)		5.750	%		09/30/39		600,622		701,227
Westar Energy, Inc.		2.550	%		07/01/26		1,292,000		1,400,314
									37,653,870
ELECTRICAL EQUIPMENT - 0.5%
Johnson Controls International plc		3.750	%		12/01/21		14,000		14,340
Johnson Controls International plc		1.750	%		09/15/30		1,000,000		1,006,324
Legrand S.A.		8.500	%		02/15/25		1,000,000		1,324,031
Roper Technologies, Inc.		2.000	%		06/30/30		440,000		448,533
Thomas & Betts Corp.		5.625	%		11/15/21		720,000		760,917
									3,554,145
FOOD - 2.3%
Campbell Soup Co.		3.950	%		03/15/25		1,500,000		1,673,499
Cargill, Inc. (a)		4.760	%		11/23/45		1,500,000		2,014,373
General Mills, Inc.		4.000	%		04/17/25		1,500,000		1,698,973
Hormel Foods Corp.		1.800	%		06/11/30		2,250,000		2,322,411
Ingredion, Inc.		2.900	%		06/01/30		1,000,000		1,085,832
J.M. Smucker Co. (The)		3.500	%		03/15/25		1,250,000		1,404,714
Kellogg Co.		2.650	%		12/01/23		1,250,000		1,324,889
Mars, Inc. (a)		3.600	%		04/01/34		1,500,000		1,803,898
Mead Johnson Nutrition Co.		3.000	%		11/15/20		1,000,000		1,002,890
Wm. Wrigley Jr. Co. (a)		3.375	%		10/21/20		1,430,000		1,432,174
									15,763,653
FORESTRY, PAPER & WOOD PRODUCTS - 0.3%
Fibria Overseas Finance Ltd.		5.500	%		01/17/27		800,000		903,000
Klabin Finance S.A. (a)		4.875	%		09/19/27		750,000		800,625
									1,703,625
GAS & WATER UTILITIES - 0.5%
American Water Capital Corp.		2.800	%		05/01/30		1,500,000		1,643,014
Brooklyn Union Gas Co. (a)		4.504	%		03/10/46		1,250,000		1,594,896
Indiana Gas Co., Inc.		6.550	%		06/30/28		250,000		315,548
									3,553,458
HEALTH CARE FACILITIES & SERVICES - 0.7%
Anthem, Inc.		2.500	%		11/21/20		1,500,000		1,504,466
CVS Health Corp.		4.300	%		03/25/28		1,250,000		1,463,089

Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
CORPORATE BONDS - 46.0% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
HEALTH CARE FACILITIES & SERVICES - 0.7% (Continued)
Kaiser Foundation Hospital		3.150	%		05/01/27	$	1,500,000	$	1,680,171
									4,647,726
HOME & OFFICE PRODUCTS - 0.2%
Steelcase, Inc.		5.125	%		01/18/29		1,000,000		1,117,387
HOME CONSTRUCTION - 0.2%
NVR, Inc.		3.950	%		09/15/22		500,000		528,243
NVR, Inc.		3.000	%		05/15/30		1,000,000		1,079,827
									1,608,070
HOUSEHOLD PRODUCTS - 0.0% (d)
Procter & Gamble Co. (The)		3.600	%		03/25/50		250,000		316,998
INSTITUTIONAL FINANCIAL SERVICES - 2.0%
Bank of New York Mellon Corp. (The)		3.400	%		05/15/24		650,000		713,069
Bank of New York Mellon Corp. (The), Perpetual Bond (b)		3.647	%		12/29/49		1,000,000		980,000
Brookfield Finance, Inc.		4.250	%		06/02/26		1,570,000		1,799,491
Goldman Sachs Group, Inc.		3.272	%		09/29/25		1,500,000		1,623,582
Goldman Sachs Group, Inc. (b)		4.223	%		05/01/29		1,000,000		1,166,213
Goldman Sachs Group, Inc.		3.800	%		03/15/30		1,500,000		1,738,587
Morgan Stanley		3.125	%		07/27/26		2,000,000		2,214,122
Morgan Stanley, Series GMTN		2.699	%		01/22/31		1,250,000		1,331,494
National Securities Clearing Corp. (a)		1.500	%		04/23/25		1,000,000		1,031,071
State Street Corp.		7.350	%		06/15/26		1,000,000		1,294,879
									13,892,508
INSURANCE - 5.4%
Aflac, Inc.		3.600	%		04/01/30		750,000		880,151
Aflac, Inc.		4.000	%		10/15/46		1,058,000		1,229,842
American International Group, Inc.		3.750	%		07/10/25		1,250,000		1,399,211
Athene Global Funding (a)		2.800	%		05/26/23		1,500,000		1,564,237
Equitable Financial Life Global Funding (a)		1.400	%		07/07/25		500,000		510,448
Five Corners Funding Trust (a)		4.419	%		11/15/23		1,000,000		1,111,100
Globe Life, Inc.		2.150	%		08/15/30		1,750,000		1,755,842
Horace Mann Educators Corp.		4.500	%		12/01/25		1,235,000		1,357,181
Jackson National Life Global Funding (a)		3.300	%		06/11/21		1,250,000		1,275,503
Kemper Corp.		4.350	%		02/15/25		1,250,000		1,371,619

Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
CORPORATE BONDS - 46.0% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
INSURANCE - 5.4% (Continued)
Liberty Mutual Group, Inc. (a)		4.950	%		05/01/22	$	1,050,000	$	1,118,692
Marsh & McLennan Cos., Inc.		3.750	%		03/14/26		1,000,000		1,129,827
Massachusetts Mutual Life Insurance Co. (a)		3.375	%		04/15/50		1,500,000		1,531,337
Met Life Global Funding I (a)		1.950	%		01/13/23		500,000		516,979
Met Life Global Funding I (a)		3.600	%		01/11/24		1,750,000		1,915,292
New York Life Global Funding (a)		2.900	%		01/17/24		3,000,000		3,214,785
OneBeacon US Holdings, Inc.		4.600	%		11/09/22		1,000,000		1,050,248
Pacific Life Global Funding II (a)		1.200	%		06/24/25		415,000		420,170
Principal Financial Group, Inc.		3.700	%		05/15/29		1,250,000		1,464,801
Progressive Corp. (The)		3.200	%		03/26/30		500,000		571,760
Protective Life Global Funding (a)		1.082	%		06/09/23		385,000		390,447
Prudential Financial, Inc.		1.500	%		03/10/26		644,000		670,874
Prudential Financial, Inc. (b)		5.875	%		09/15/42		750,000		789,907
Prudential plc		3.125	%		04/14/30		750,000		832,882
Reinsurance Group of America, Inc.		3.900	%		05/15/29		1,000,000		1,141,586
Reliance STD Life Insurance Co. (a)		2.750	%		05/07/25		1,280,000		1,351,390
RLI Corp.		4.875	%		09/15/23		1,000,000		1,087,733
Sammons Financial Group, Inc. (a)		4.450	%		05/12/27		1,050,000		1,101,521
StanCorp Financial Group, Inc.		5.000	%		08/15/22		1,250,000		1,314,291
Teachers Insurance & Annuity Association (a)(b)		4.375	%		09/15/54		2,678,000		2,838,847
									36,908,503
INTERNET MEDIA & SERVICES - 0.1%
Alphabet, Inc.		0.450	%		08/15/25		890,000		887,246
LEISURE FACILITIES & SERVICES - 0.6%
Hyatt Hotels Corp.		3.375	%		07/15/23		1,000,000		1,024,495
Marriott International, Inc.		3.600	%		04/15/24		727,000		749,290
McDonald's Corp., Series MTN		3.500	%		07/01/27		1,000,000		1,138,726
Starbucks Corp.		2.450	%		06/15/26		1,000,000		1,081,870
									3,994,381
MACHINERY - 0.7%
Ingersoll-Rand Global Holding Co. Ltd.		2.900	%		02/21/21		500,000		504,805
Ingersoll-Rand Global Holding Co. Ltd.		6.391	%		11/15/27		655,000		819,267
John Deere Capital Corp.		1.750	%		03/09/27		250,000		261,325
John Deere Capital Corp.		3.050	%		01/06/28		1,250,000		1,391,638
Xylem, Inc.		1.950	%		01/30/28		1,775,000		1,849,472
									4,826,507

Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
CORPORATE BONDS - 46.0% (Continued)	Coupon		Maturity		Principal Amount		Fair Value
MEDICAL EQUIPMENT & DEVICES - 0.6%
Agilent Technologies, Inc.	3.875	%	07/15/23	$	1,250,000	$	1,353,431
Alcon Finance Corp. (a)	2.600	%	05/27/30		1,250,000		1,323,223
DENTSPLY SIRONA, Inc.	3.250	%	06/01/30		1,000,000		1,087,181
							3,763,835
PERSONAL PRODUCTS - 0.2%
Estée Lauder Cos., Inc. (The)	2.600	%	04/15/30		1,000,000		1,092,504
PIPELINES - 0.5%
Florida Gas Transmission Co., LLC (a)	4.350	%	07/15/25		1,000,000		1,137,546
Northern Natural Gas Co. (a)	4.100	%	09/15/42		1,000,000		1,110,610
ONEOK Partners, L.P.	4.900	%	03/15/25		1,042,000		1,141,851
							3,390,007
REITS - 2.6%
Agree Ltd. Partnership	2.900	%	10/01/30		650,000		674,190
Alexandria Real Estate Equities, Inc.	4.000	%	01/15/24		1,500,000		1,651,721
Boston Properties, L.P.	4.500	%	12/01/28		1,250,000		1,470,343
Camden Property Trust	2.800	%	05/15/30		500,000		544,791
Duke Realty Trust, L.P.	2.875	%	11/15/29		1,500,000		1,636,263
ERP Operating, L.P.	4.150	%	12/01/28		1,250,000		1,483,531
ESSEX Portfolio, L.P.	2.650	%	03/15/32		1,500,000		1,584,005
Kilroy Realty Corp.	2.500	%	11/15/32		1,750,000		1,703,971
Lexington Realty Trust	2.700	%	09/15/30		500,000		509,749
Mid-America Apartment Communities, Inc.	3.950	%	03/15/29		1,750,000		2,026,230
Prologis, L.P.	2.250	%	04/15/30		2,500,000		2,657,207
Regency Centers, L.P.	3.750	%	06/15/24		1,000,000		1,063,162
Vornado Realty, L.P.	3.500	%	01/15/25		567,000		589,822
							17,594,985
RETAIL - CONSUMER STAPLES - 0.5%
Costco Wholesale Corp.	2.300	%	05/18/22		1,000,000		1,031,741
Kroger Co. (The)	5.000	%	04/15/42		1,000,000		1,280,054
Target Corp.	2.250	%	04/15/25		1,000,000		1,071,519
							3,383,314
RETAIL - DISCRETIONARY - 0.7%
ERAC USA Finance, LLC (a)	2.700	%	11/01/23		1,250,000		1,313,546
Lowe's Cos., Inc.	4.650	%	04/15/42		1,000,000		1,262,169
Macy's Retail Holdings, Inc.	9.500	%	04/15/21		90,000		90,043
O'Reilly Automotive, Inc.	3.800	%	09/01/22		1,000,000		1,053,752

Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
CORPORATE BONDS - 46.0% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
RETAIL - DISCRETIONARY - 0.7% (Continued)
TJX Cos., Inc. (The)		3.500	%		04/15/25	$	1,250,000	$	1,392,216
									5,111,726
SEMICONDUCTORS - 0.6%
Analog Devices, Inc.		2.950	%		04/01/25		175,000		190,333
Intel Corp.		3.400	%		03/25/25		300,000		336,127
Intel Corp.		3.734	%		12/08/47		1,361,000		1,625,346
Maxim Integrated Products, Inc.		3.375	%		03/15/23		500,000		532,389
NVIDIA Corp.		2.850	%		04/01/30		500,000		561,753
Texas Instruments, Inc.		1.375	%		03/12/25		1,000,000		1,034,825
									4,280,773
SOFTWARE - 0.3%
Microsoft Corp.		2.525	%		06/01/50		2,000,000		2,091,638
SPECIALTY FINANCE - 1.6%
AerCap Ireland Capital Ltd.		5.000	%		10/01/21		1,000,000		1,030,726
American Express Credit Corp.		3.000	%		10/30/24		1,000,000		1,084,942
BlueHub Loan Fund, Inc.		3.099	%		01/01/30		1,030,000		1,050,387
Community Preservation Corp. (The)		2.867	%		02/01/30		1,750,000		1,874,297
Fidelity National Financial, Inc.		5.500	%		09/01/22		725,000		786,876
Fidelity National Information Services, Inc.		3.400	%		06/15/30		500,000		540,789
GATX Corp.		4.350	%		02/15/24		300,000		327,798
Low Income Investment Fund		3.386	%		07/01/26		115,000		122,616
USAA Capital Corp. (a)		1.500	%		05/01/23		1,000,000		1,025,499
USAA Capital Corp. (a)		2.125	%		05/01/30		3,000,000		3,160,796
									11,004,726
STEEL - 0.4%
Nucor Corp.		4.125	%		09/15/22		1,025,000		1,087,223
Nucor Corp.		2.000	%		06/01/25		460,000		480,129
Reliance Steel & Aluminum Co.		4.500	%		04/15/23		1,105,000		1,198,206
									2,765,558
TECHNOLOGY HARDWARE - 0.6%
Apple, Inc.		2.850	%		02/23/23		1,250,000		1,319,150
Apple, Inc.		3.000	%		06/20/27		1,000,000		1,128,155
Apple, Inc.		2.650	%		05/11/50		1,000,000		1,047,883
Xerox Corp.		4.070	%		03/17/22		750,000		761,603
									4,256,791
TECHNOLOGY SERVICES - 1.5%
Experian Financial plc (a)		2.750	%		03/08/30		635,000		684,879

Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
CORPORATE BONDS - 46.0% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
TECHNOLOGY SERVICES - 1.5% (Continued)
Genpact Luxembourg S.A.R.L.		3.700	%		04/01/22	$	1,100,000	$	1,126,117
IBM Corp.		3.300	%		05/15/26		1,000,000		1,126,113
Mastercard, Inc.		3.300	%		03/26/27		197,000		224,559
Moody's Corp.		3.250	%		05/20/50		500,000		535,309
RELX Capital, Inc.		3.500	%		03/16/23		1,500,000		1,595,310
S&P Global, Inc.		4.000	%		06/15/25		1,163,000		1,332,221
Verisk Analytics, Inc.		5.800	%		05/01/21		960,000		988,803
Visa, Inc.		0.750	%		08/15/27		1,770,000		1,756,603
Visa, Inc.		2.050	%		04/15/30		500,000		535,710
									9,905,624
TELECOMMUNICATIONS - 1.1%
AT&T, Inc.		4.100	%		02/15/28		757,000		876,376
AT&T, Inc.		5.250	%		03/01/37		500,000		625,160
AT&T, Inc.		4.750	%		05/15/46		1,500,000		1,762,149
Verizon Communications, Inc.		1.500	%		09/18/30		1,000,000		996,651
Verizon Communications, Inc.		3.875	%		02/08/29		1,000,000		1,183,003
Verizon Communications, Inc.		5.500	%		03/16/47		1,250,000		1,882,805
									7,326,144
TRANSPORTATION & LOGISTICS - 1.8%
British Airways, Series 2013-1 (a)		4.625	%		12/20/25		517,384		497,998
Burlington Northern Santa Fe, LLC		5.750	%		05/01/40		1,000,000		1,445,010
Canadian Pacific Railway		2.050	%		03/05/30		1,750,000		1,823,125
FedEx Corp.		3.800	%		05/15/25		1,000,000		1,131,242
Mexico City Airport Trust (a)		4.250	%		10/31/26		497,000		439,845
Norfolk Southern Corp.		4.837	%		10/01/41		1,000,000		1,313,292
Norfolk Southern Corp.		3.050	%		05/15/50		1,500,000		1,594,146
Penske Truck Leasing (a)		3.450	%		07/01/24		1,250,000		1,353,128
Southwest Airlines Co.		2.650	%		11/05/20		680,000		680,125
TTX Co. (a)		4.600	%		02/01/49		280,000		369,914
United Parcel Services, Inc.		3.900	%		04/01/25		1,500,000		1,708,989
									12,356,814
TRANSPORTATION EQUIPMENT - 0.1%
Paccar Financial Corp., Series MTN		2.650	%		04/06/23		385,000		405,857
WHOLESALE - CONSUMER STAPLES - 0.5%
Bunge Ltd. Finance Corp.		3.500	%		11/24/20		1,250,000		1,255,471
Bunge Ltd. Finance Corp.		1.630	%		08/17/25		395,000		396,728

Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
CORPORATE BONDS - 46.0% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
WHOLESALE - CONSUMER STAPLES - 0.5% (Continued)
Sysco Corp.		2.400	%		02/15/30	$	1,750,000	$	1,756,013
									3,408,212
TOTAL CORPORATE BONDS (COST $286,437,468)								$	313,658,893
CORPORATE NOTES - 0.9%		Coupon			Maturity		Principal Amount		Fair Value
COMMUNITY DEVELOPMENT - 0.9%
Calvert Social Investment Foundation, Inc. (c)		2.000	%		06/15/22	$	980,000	$	993,005
Calvert Social Investment Foundation, Inc. (c)		3.000	%		06/15/23		1,650,000		1,713,657
Calvert Social Investment Foundation, Inc. (c)		3.000	%		12/15/23		950,000		992,636
Calvert Social Investment Foundation, Inc. (c)		3.000	%		06/17/24		980,000		1,005,186
Calvert Social Investment Foundation, Inc. (c)		3.000	%		12/13/24		400,000		411,128
Calvert Social Investment Foundation, Inc. (c)		2.500	%		06/13/25		1,400,000		1,400,000
TOTAL CORPORATE NOTES (COST $6,360,000)								$	6,515,612
FOREIGN GOVERNMENTS - 8.1%		Coupon			Maturity		Principal Amount		Fair Value
FOREIGN AGENCY - 2.7%
Banco Nacional de Costa Rica (a)		5.875	%		04/25/21	$	325,000	$	329,875
Bank Nederlandse Gemeenten (a)		2.125	%		12/14/20		1,500,000		1,505,449
BNG Bank N.V. (a)		3.125	%		11/08/21		1,500,000		1,546,950
BNG Bank N.V. (a)		1.500	%		10/16/24		1,500,000		1,564,680
Export-Import Bank of Korea		2.125	%		02/11/21		1,250,000		1,257,387
KFW		1.875	%		11/30/20		1,450,000		1,453,905
KFW		2.000	%		11/30/21		1,000,000		1,020,697
KFW		2.000	%		09/29/22		1,500,000		1,553,144
Kommunalbanken A.S. (a)		1.375	%		10/26/20		1,000,000		1,000,750
Kommunalbanken A.S. (a)		2.125	%		02/11/25		1,000,000		1,072,220
Kommunivest I Sverige AB (a)		1.875	%		06/01/21		2,000,000		2,020,911
Korea East-West Power Co. (a)		3.875	%		07/19/23		147,000		159,627
Municipality Finance plc (a)		1.375	%		09/21/21		1,000,000		1,010,590
Nacional Financiera SNC (a)		3.375	%		11/05/20		1,000,000		1,000,350
Nederlandse Waterschapsbank N.V. (a)		2.125	%		11/15/21		1,500,000		1,530,795
									18,027,330

Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
FOREIGN GOVERNMENTS - 8.1% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
SUPRANATIONAL - 5.4%
African Development Bank		3.000	%		12/06/21	$	1,000,000	$	1,032,544
African Development Bank		0.750	%		04/03/23		1,000,000		1,012,253
Asian Development Bank		2.125	%		03/19/25		1,000,000		1,076,031
Asian Development Bank		3.125	%		09/26/28		1,000,000		1,187,160
European Bank for Reconstruction & Development		1.875	%		07/15/21		1,500,000		1,519,050
European Bank for Reconstruction & Development		1.500	%		02/13/25		200,000		208,209
European Bank for Reconstruction & Development		1.625	%		09/27/24		1,250,000		1,313,005
European Investment Bank		2.500	%		10/15/24		1,000,000		1,086,996
European Investment Bank (a)		2.875	%		06/13/25		1,000,000		1,114,280
European Investment Bank		2.125	%		04/13/26		1,000,000		1,091,030
European Investment Bank		2.375	%		05/24/27		1,000,000		1,114,834
Inter-American Development Bank		3.000	%		09/26/22		2,000,000		2,108,600
Inter-American Development Bank		0.875	%		04/03/25		3,000,000		3,060,660
Inter-American Development Bank		4.375	%		01/24/44		3,000,000		4,595,525
International Bank for Reconstruction & Development		2.125	%		03/03/25		500,000		537,790
International Bank for Reconstruction & Development		0.625	%		04/22/25		1,000,000		1,009,311
International Bank for Reconstruction & Development		3.125	%		11/20/25		1,000,000		1,134,814
International Development Association (a)		2.750	%		04/24/23		5,000,000		5,310,614
International Development Association (a)		0.375	%		09/23/25		2,000,000		1,998,338
International Finance Corp., Series GMTN		2.000	%		10/24/22		2,000,000		2,073,720
International Finance Corp., Series GMTN		0.500	%		03/20/23		2,500,000		2,512,762
Nordic Investment Bank		2.250	%		09/30/21		1,000,000		1,020,046
									37,117,572

TOTAL FOREIGN GOVERNMENTS (COST $51,695,901)						$	55,144,902
COMMERCIAL MORTGAGE-BACKED SECURITIES - 0.3%	Coupon		Maturity		Principal Amount		Fair Value
Commercial Mortgage Pass-Through Certificates, Class A-3	3.391	%	05/17/45	$	937,425	$	957,041

Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
COMMERCIAL MORTGAGE-BACKED SECURITIES - 0.3% (Continued)	Coupon		Maturity		Principal Amount		Fair Value
Commercial Mortgage Pass-Through Certificates, Class A-3	2.853	%	10/15/45	$	993,930	$	1,023,818
TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES (COST $1,967,810)						$	1,980,859
U.S. GOVERNMENT AGENCIES - 40.1%	Coupon		Maturity		Principal Amount		Fair Value
DEVELOPMENT FINANCE CORPORATION - 0.9%
DFC	0.000	%	06/21/23	$	1,000,000	$	1,075,920
DFC (b)	0.180	%	09/15/26		1,000,000		1,000,000
DFC	3.280	%	09/15/29		962,931		1,093,825
DFC	3.540	%	06/15/30		573,539		656,134
DFC	3.520	%	09/20/32		857,143		1,001,619
DFC	3.820	%	06/01/33		864,626		1,041,604
							5,869,102
FEDERAL HOME LOAN BANK - 6.1%
FHLB	3.250	%	11/16/28		12,500,000		15,003,964
FHLB	5.500	%	07/15/36		17,120,000		26,647,590
							41,651,554
FEDERAL HOME LOAN MORTGAGE CORPORATION - 8.6%
FHLMC	5.000	%	12/01/21		11,966		12,602
FHLMC	5.500	%	04/01/22		7,567		7,710
FHLMC	4.000	%	11/01/24		148,425		157,269
FHLMC	4.000	%	10/01/25		72,586		76,988
FHLMC	2.875	%	04/25/26		3,000,000		3,298,482
FHLMC	6.000	%	04/01/27		80,637		90,006
FHLMC	2.500	%	10/01/27		480,903		502,992
FHLMC	2.738	%	04/25/29		2,390,453		2,604,287
FHLMC	2.412	%	08/25/29		3,000,000		3,277,982
FHLMC	7.000	%	02/01/30		17,664		17,731
FHLMC	7.500	%	07/01/30		109,479		125,401
FHLMC	7.000	%	03/01/31		36,507		42,590
FHLMC	6.250	%	07/15/32		1,550,000		2,430,117
FHLMC	3.000	%	11/01/32		669,597		709,886
FHLMC	3.000	%	11/01/32		951,872		1,008,973

Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
U.S. GOVERNMENT AGENCIES - 40.1% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
FEDERAL HOME LOAN MORTGAGE CORPORATION - 8.6% (Continued)
FHLMC		5.500	%		11/01/33	$	37,300	$	43,854
FHLMC		1.783	%		01/25/34		2,084,061		2,141,739
FHLMC (H15T1Y + 2.231) (b)		2.731	%		05/01/34		47,541		50,005
FHLMC (H15T1Y + 2.231) (b)		2.731	%		05/01/34		14,754		14,817
FHLMC		5.000	%		07/01/35		70,421		81,017
FHLMC		4.500	%		10/01/35		129,920		144,110
FHLMC		5.500	%		03/01/36		37,944		44,287
FHLMC		5.500	%		06/01/36		48,978		57,283
FHLMC		6.000	%		06/01/36		44,952		51,903
FHLMC		5.500	%		12/01/36		42,014		48,887
FHLMC		6.000	%		08/01/37		23,498		27,735
FHLMC		5.000	%		03/01/38		214,247		246,728
FHLMC		4.500	%		06/01/39		238,536		268,312
FHLMC		5.000	%		06/01/39		338,886		390,308
FHLMC		4.500	%		07/01/39		238,307		267,315
FHLMC		4.500	%		11/01/39		221,584		248,584
FHLMC		4.500	%		09/01/40		356,534		400,395
FHLMC		4.500	%		05/01/41		705,693		792,932
FHLMC		4.500	%		07/01/41		705,119		791,387
FHLMC		5.000	%		09/01/41		309,727		356,978
FHLMC		3.500	%		10/01/41		455,235		491,357
FHLMC		4.000	%		10/01/41		392,321		433,329
FHLMC		3.500	%		02/01/42		685,796		741,748
FHLMC		4.000	%		02/01/42		195,153		215,131
FHLMC		3.500	%		06/01/42		843,000		912,604
FHLMC		3.500	%		06/01/42		824,154		891,943
FHLMC		3.500	%		08/01/42		880,413		953,275
FHLMC		3.000	%		11/01/42		1,514,013		1,613,414
FHLMC		3.000	%		01/01/43		891,268		949,518
FHLMC		3.000	%		05/01/43		1,267,799		1,348,855
FHLMC		3.500	%		10/01/44		941,528		1,005,966
FHLMC		3.500	%		11/01/44		836,408		893,200
FHLMC		3.500	%		04/01/45		1,041,712		1,112,185
FHLMC		3.000	%		05/01/46		1,725,215		1,816,968
FHLMC		3.000	%		12/01/46		3,229,672		3,444,653
FHLMC		3.500	%		03/01/48		3,644,209		3,984,621

Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
U.S. GOVERNMENT AGENCIES - 40.1% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
FEDERAL HOME LOAN MORTGAGE CORPORATION - 8.6% (Continued)
FHLMC		3.500	%		03/01/49	$	1,946,948	$	2,050,862
FHLMC		3.500	%		07/01/49		3,238,232		3,411,442
FHLMC		3.000	%		07/01/50		5,890,429		6,176,736
FHLMC		2.000	%		08/01/50		4,958,206		5,127,305
									58,406,704
FEDERAL NATIONAL MORTGAGE ASSOCIATION - 22.9%
FNMA		5.500	%		06/01/22		11,080		11,294
FNMA		2.890	%		07/01/22		2,274,719		2,332,818
FNMA		2.000	%		10/05/22		3,500,000		3,629,766
FNMA		2.190	%		01/01/23		1,893,542		1,947,195
FNMA		2.670	%		12/01/23		2,335,560		2,475,641
FNMA (b)		2.641	%		07/25/24		3,000,000		3,150,876
FNMA		2.625	%		09/06/24		5,750,000		6,282,260
FNMA		2.890	%		12/01/24		4,000,000		4,236,893
FNMA		3.080	%		12/01/24		2,240,265		2,433,618
FNMA		2.710	%		01/01/25		4,500,000		4,793,278
FNMA		5.000	%		04/01/25		50,203		54,886
FNMA		0.500	%		06/17/25		10,000,000		10,046,107
FNMA		5.000	%		07/01/25		38,335		41,904
FNMA		3.500	%		10/01/25		75,544		79,974
FNMA		5.000	%		10/01/25		54,818		59,957
FNMA		5.500	%		11/01/25		15		17
FNMA		4.000	%		03/01/26		318,496		338,492
FNMA		2.910	%		04/01/26		3,000,000		3,288,144
FNMA		2.125	%		04/24/26		2,000,000		2,183,714
FNMA (b)		2.254	%		07/25/26		1,670,030		1,743,894
FNMA		8.500	%		09/01/26		7,994		8,069
FNMA (b)		2.894	%		02/25/27		635,781		656,881
FNMA		2.500	%		09/01/27		576,526		603,347
FNMA		2.746	%		09/25/27		266,793		275,321
FNMA		2.500	%		11/01/27		858,065		898,140
FNMA		2.500	%		01/01/28		584,602		611,854
FNMA (b)		2.899	%		01/25/28		4,624,973		5,033,772
FNMA (b)		3.047	%		03/25/28		840,222		908,060
FNMA		3.325	%		06/25/28		2,000,000		2,317,244
FNMA		0.875	%		08/05/30		11,500,000		11,355,012

Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
U.S. GOVERNMENT AGENCIES - 40.1% (Continued)	Coupon		Maturity		Principal Amount		Fair Value
FEDERAL NATIONAL MORTGAGE ASSOCIATION - 22.9% (Continued)
FNMA	6.625	%	11/15/30	$	6,750,000	$	10,371,096
FNMA	2.000	%	01/01/32		2,182,204		2,280,027
FNMA	3.000	%	12/01/32		990,540		1,047,005
FNMA	6.000	%	10/01/33		28,861		34,078
FNMA	5.500	%	02/01/34		39,217		46,076
FNMA (H15T1Y + 2.205) (b)	3.317	%	05/01/34		30,319		30,674
FNMA	6.000	%	11/01/34		88,978		105,350
FNMA	5.500	%	01/01/35		53,657		62,941
FNMA	2.500	%	02/01/35		3,290,284		3,435,708
FNMA	5.000	%	10/01/35		73,154		84,062
FNMA	5.500	%	10/01/35		99,234		116,823
FNMA	6.000	%	10/01/35		51,828		61,367
FNMA	5.500	%	06/01/36		30,850		35,750
FNMA	6.000	%	06/01/36		26,497		31,318
FNMA	5.500	%	11/01/36		34,238		39,685
FNMA (12MO LIBOR + 1.631) (b)	3.565	%	05/01/37		26,966		27,064
FNMA	5.625	%	07/15/37		2,750,000		4,420,509
FNMA	4.500	%	09/01/40		217,671		244,231
FNMA	4.500	%	10/01/40		225,907		253,606
FNMA	4.000	%	12/01/40		577,679		636,295
FNMA	4.000	%	01/01/41		398,601		440,035
FNMA	3.500	%	02/01/41		578,482		625,894
FNMA	4.000	%	10/01/41		334,552		368,279
FNMA	4.000	%	11/01/41		338,919		373,340
FNMA	4.000	%	12/01/41		831,307		916,066
FNMA	4.000	%	12/01/41		432,221		476,176
FNMA	4.000	%	01/01/42		1,077,017		1,197,408
FNMA	3.500	%	05/01/42		716,610		775,024
FNMA	3.000	%	06/01/42		1,216,438		1,294,534
FNMA	3.000	%	08/01/42		1,055,015		1,123,433
FNMA	3.000	%	08/01/42		976,851		1,039,151
FNMA	3.500	%	12/01/42		1,150,435		1,269,327
FNMA	3.000	%	06/01/43		1,081,984		1,152,343
FNMA	4.000	%	12/01/44		1,429,387		1,604,466
FNMA	3.500	%	05/01/45		1,433,354		1,580,718
FNMA	3.000	%	04/01/46		1,593,675		1,673,415
FNMA	3.500	%	11/01/46		2,565,087		2,742,793

Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
U.S. GOVERNMENT AGENCIES - 40.1% (Continued)	Coupon		Maturity		Principal Amount		Fair Value
FEDERAL NATIONAL MORTGAGE ASSOCIATION - 22.9% (Continued)
FNMA	4.000	%	10/01/48	$	2,018,162	$	2,149,548
FNMA	4.000	%	11/01/48		3,146,436		3,435,855
FNMA	3.500	%	05/01/49		1,769,875		1,864,617
FNMA	4.000	%	06/01/49		2,506,273		2,669,864
FNMA	3.500	%	08/01/49		5,971,394		6,292,948
FNMA	3.000	%	09/01/49		3,296,917		3,452,183
FNMA	3.000	%	09/01/49		3,319,739		3,476,079
FNMA	2.500	%	07/01/50		5,911,725		6,205,987
FNMA	2.500	%	08/01/50		3,962,270		4,159,496
FNMA	3.000	%	08/01/50		7,911,828		8,320,607
							155,841,679
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION - 0.0% (d)
GNMA	7.000	%	12/20/30		14,569		17,126
GNMA	7.000	%	10/20/31		9,881		11,710
GNMA	7.000	%	03/20/32		40,100		48,418
GNMA (b)	3.375	%	01/20/34		32,307		33,789
GNMA	5.500	%	10/20/38		5,516		5,987
GNMA	6.500	%	11/20/38		5,289		5,914
GNMA	2.250	%	04/16/42		58,550		58,644
							181,588
SMALL BUSINESS ADMINISTRATION - 0.0% (d)
SBA (Prime - 265) (b)	0.600	%	02/25/32		157,862		156,580
UNITED STATES AGENCY OF INTERNATIONAL DEVELOPMENT - 1.5%
Hashemite Kingdom of Jordan AID Bond	2.503	%	10/30/20		5,000,000		5,008,483
Hashemite Kingdom of Jordan AID Bond	3.000	%	06/30/25		1,450,000		1,614,543
Iraq AID Bond	2.149	%	01/18/22		1,500,000		1,538,095
Ukraine Government AID Bond	1.471	%	09/29/21		2,000,000		2,024,891
							10,186,012

Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
U.S. GOVERNMENT AGENCIES - 40.1% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT - 0.1%
United States Department of Housing and Urban Development		2.350	%		08/01/21	$	1,000,000	$	1,017,154
TOTAL U.S. GOVERNMENT AGENCIES  (COST $254,873,793)								$	273,310,373

ASSET BACKED SECURITIES - 1.4%	Coupon			Maturity		Principal Amount		Fair Value
Ahold Finance U.S.A., LLC		8.620	%		01/02/25	$	512,639	$	559,837
CLI Funding, LLC (a)		2.830	%		03/20/28		249,200		249,392
Cronos Containers Program I Ltd. (a)		3.270	%		11/18/29		351,852		353,398
Domino's Pizza Master Issuer, LLC (a)		3.082	%		07/25/47		1,455,000		1,457,968
Global SC Finance II SRL (a)		2.980	%		04/17/28		297,083		298,058
InSite Issuer, LLC (a)		2.883	%		11/15/46		1,750,000		1,794,710
SBA Tower Trust (a)		3.448	%		03/15/48		1,250,000		1,318,102
SBA Tower Trust (a)		2.836	%		01/15/50		282,000		296,788
SolarCity LMC, Series I, LLC (a)		4.800	%		12/20/26		448,883		439,065
SolarCity LMC, Series IV, LLC (a)		4.180	%		08/21/45		209,015		211,939
Spruce ABS Trust (a)(c)		4.320	%		06/15/28		74,252		74,514
Trillium Credit Card Trust II (a)		3.038	%		01/26/24		2,000,000		2,016,097
Wendy's Funding, LLC (a)		3.783	%		06/15/49		733,125		775,063
TOTAL ASSET BACKED SECURITIES  (COST $9,706,028)								$	9,844,931

MONEY MARKET FUNDS - 1.3%	Shares		Fair Value
First American Government Obligations Fund - Class X, 0.07% (e) (COST $8,770,880)	8,770,880	$	8,770,880

Schedule of Portfolio Investments (Continued)
Praxis Impact Bond Fund
INVESTMENT COMPANIES - 0.5%	Shares		Fair Value
Pax High Yield Bond Fund - Institutional Class (COST $4,199,236)	530,984	$	3,562,901
TOTAL INVESTMENTS - (COST $631,579,470) - 99.8%		$	680,809,041
OTHER ASSETS IN EXCESS OF LIABILITIES - 0.2%			1,234,208
NET ASSETS - 100.0%		$	682,043,249

(a)	144a security may only be resold to qualified institutional investors.  These securities were deemed liquid under guidelines established by the Board of Trustees.  At September 30, 2020, these securities were valued at $90,459,363 or 13.3% of net assets.
(b)	Variable rate security. Interest rate resets periodically.  The rate shown is the effective interest rate as of September 30, 2020.  For securities based on a published reference rate and spread, the reference rate and spread (in basis points) are indicated parenthetically.  Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions.  These securities, therefore, do not indicate a reference rate and spread.
(c)	Restricted and/or illiquid securities not registered under the Securities Act of 1933 are as follows:

	Acquisition Date	Current Cost		Fair Value		% of Net Assets
Calvert Social Investment Foundation, Inc. 2.000%, 06/15/22	06/17/19	$	980,000	$	993,005		0.1	%
Calvert Social Investment Foundation, Inc. 3.000%, 06/15/23	06/18/18		1,650,000		1,713,657		0.3	%
Calvert Social Investment Foundation, Inc. 3.000%, 12/15/23	12/17/18		950,000		992,636		0.1	%
Calvert Social Investment Foundation, Inc. 3.000%, 06/17/24	06/17/19		980,000		1,005,186		0.1	%
Calvert Social Investment Foundation, Inc. 3.000%, 12/13/24	12/12/19		400,000		411,128		0.1	%
Calvert Social Investment Foundation, Inc. 2.500%, 06/13/25	06/12/20		1,400,000		1,400,000		0.2	%
Spruce ABS Trust, 4.320%, 06/15/28	06/17/16		74,245		74,514		0.0	%(d)
		$	6,434,245	$	6,590,126		0.9	%

(d)	Percentage rounds to less than 0.1%.
(e)	The rate shown is the 7-day effective yield as of September 30, 2020.

GTMN - Global Medium-Term Note

H15T1Y - U.S. Treasury yield curve rate for U.S. Treasury note with a constant maturity of 1 year

LIBOR - London Interbank Offered Rate

plc - Public Liability Company

Schedule of Portfolio Investments
Praxis International Index Fund
September 30, 2020 (Unaudited)
COMMON STOCKS - 98.0%	Shares		Fair Value
AUSTRALIA - 3.9%
BANKING - 0.9%
Australia & New Zealand Banking Group Ltd. (a)	40,646	$	506,868
Commonwealth Bank of Australia (a)	26,230		1,206,455
Macquarie Group Ltd. (a)	2,144		185,766
Macquarie Group Ltd. - ADR	2,747		237,203
National Australia Bank Ltd. (a)	15,098		193,874
Westpac Banking Corp. - ADR	27,901		335,928
			2,666,094
BIOTECH & PHARMA - 0.5%
CSL Ltd. (a)	3,640		751,559
CSL Ltd. - ADR	7,282		752,959
			1,504,518
COMMERCIAL SUPPORT SERVICES - 0.1%
Worley Ltd. (a)	26,610		185,380
CONTAINERS & PACKAGING - 0.1%
Brambles Ltd. (a)	40,548		307,742
ELECTRIC UTILITIES - 0.0% (b)
Origin Energy Ltd. (a)	42,233		130,732
INSTITUTIONAL FINANCIAL SERVICES - 0.1%
ASX Ltd. (a)	3,863		225,749
INTERNET MEDIA & SERVICES - 0.2%
REA Group Ltd. (a)	1,670		132,919
SEEK Ltd. (a)	32,750		504,985
			637,904
METALS & MINING - 0.3%
Fortescue Metals Group Ltd. (a)	43,722		513,412
Newcrest Mining Ltd. (a)	7,341		166,388
Newcrest Mining Ltd. - ADR	4,267		95,922
			775,722
OIL & GAS PRODUCERS - 0.2%
Woodside Petroleum Ltd. (a)	44,552		565,198

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
AUSTRALIA - 3.9% (Continued)
REITS - 0.6%
Dexus (a)		76,065	$	486,967
Goodman Group (a)		44,189		571,872
Scentre Group (a)		175,279		278,943
Stockland (a)		51,817		141,490
Vicinity Centres (a)		164,841		164,536
				1,643,808
RETAIL - CONSUMER STAPLES - 0.3%
Coles Group Ltd. (a)		14,895		181,379
Woolworths Ltd. (a)		28,598		747,458
				928,837
RETAIL - DISCRETIONARY - 0.2%
Wesfarmers Ltd. (a)		20,371		650,846
TRANSPORTATION & LOGISTICS - 0.4%
Sydney Airport (a)		57,629		244,608
Transurban Group (a)		95,402		973,694
				1,218,302
TOTAL AUSTRALIA				11,440,832
AUSTRIA - 0.3%
BANKING - 0.1%
Erste Group Bank AG (a)(c)		4,355		91,207
Erste Group Bank AG - ADR (c)		7,750		82,770
Raiffeisen Bank International AG (a)		9,563		146,391
				320,368
ELECTRIC UTILITIES - 0.2%
Verbund AG (a)		8,891		485,623
TOTAL AUSTRIA				805,991
BELGIUM - 0.3%
BANKING - 0.1%
KBC Group N.V. (a)		4,242		212,748
BIOTECH & PHARMA - 0.1%
UCB S.A. (a)		2,286		259,664

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
BELGIUM - 0.3% (Continued)
CHEMICALS - 0.1%
Umicore S.A. (a)		9,249	$	384,760
TELECOMMUNICATIONS - 0.0% (b)
Telenet Group Holding N.V. (a)		3,573		138,702
TOTAL BELGIUM				995,874
BERMUDA - 0.6%
BANKING - 0.1%
Credicorp Ltd.		3,022		374,698
RETAIL - CONSUMER STAPLES - 0.1%
Alibaba Health Information Technology Ltd. (a)(c)		111,321		273,747
RETAIL - DISCRETIONARY - 0.0% (b)
Jardine Matheson Holdings Ltd. (a)		751		29,853
TRANSPORTATION & LOGISTICS - 0.2%
Shenzhen International Holdings Ltd. (a)		378,500		603,885
WHOLESALE - DISCRETIONARY - 0.2%
Haier Electronics Group Co. Ltd. (a)		150,769		548,126
TOTAL BERMUDA				1,830,309
BRAZIL - 1.1%
BANKING - 0.6%
Banco Bradesco S.A. - ADR		235,645		808,262
Banco do Brasil S.A. - ADR		56,189		301,735
Banco Santander Brasil S.A. - ADR		105,613		521,728
				1,631,725
FOOD - 0.0% (b)
BRF S.A. - ADR (c)		28,648		93,965
FORESTRY, PAPER & WOOD PRODUCTS - 0.1%
Suzano S.A. - ADR (c)		35,938		293,614

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
BRAZIL - 1.1% (Continued)
OIL & GAS PRODUCERS - 0.1%
Ultrapar Participacoes S.A. - ADR		72,410	$	247,642
RETAIL - CONSUMER STAPLES - 0.1%
Companhia Brasileira de Distribuicao - ADR		25,270		311,832
STEEL - 0.1%
Gerdau S.A. - ADR		121,524		449,639
TELECOMMUNICATIONS - 0.1%
TIM Participacoes S.A. - ADR		28,301		326,311
TOTAL BRAZIL				3,354,728
CANADA - 6.6%
APPAREL & TEXTILE PRODUCTS - 0.1%
Gildan Activewear, Inc.		18,362		361,181
BANKING - 1.7%
Bank of Montreal		16,080		939,233
Bank of Nova Scotia (The)		6,823		283,223
Canadian Imperial Bank of Commerce		3,865		288,793
Royal Bank of Canada		32,969		2,312,446
Toronto-Dominion Bank (The)		23,181		1,071,889
				4,895,584
CABLE & SATELLITE - 0.1%
Shaw Communications, Inc. - Class B		25,817		471,160
CHEMICALS - 0.2%
Methanex Corp.		21,506		524,747
INDUSTRIAL SUPPORT SERVICES - 0.2%
Ritchie Bros. Auctioneers, Inc.		9,384		556,002
INSURANCE - 0.7%
Manulife Financial Corp.		78,022		1,085,286
Sun Life Financial, Inc.		22,236		905,672
				1,990,958

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
CANADA - 6.6% (Continued)
LEISURE FACILITIES & SERVICES - 0.2%
Restaurant Brands International, Inc.		11,589	$	666,483
METALS & MINING - 1.1%
Cameco Corp.		29,105		293,961
Franco-Nevada Corp.		4,682		653,514
Kinross Gold Corp. (c)		46,915		413,790
Pan American Silver Corp.		5,548		178,368
Teck Resources Ltd. - Class B		62,144		865,044
Wheaton Precious Metals Corp.		14,533		713,134
				3,117,811
SOFTWARE - 0.3%
BlackBerry Ltd. (c)		33,175		152,273
Open Text Corp.		17,392		734,638
				886,911
TECHNOLOGY SERVICES - 0.8%
CGI, Inc. (c)		8,100		548,937
Thomson Reuters Corp.		23,568		1,880,019
				2,428,956
TELECOMMUNICATIONS - 0.1%
Rogers Communications, Inc. - Class B		6,983		276,876
TRANSPORTATION & LOGISTICS - 1.1%
Canadian National Railway Co.		18,472		1,966,529
Canadian Pacific Railway Ltd.		4,300		1,309,049
				3,275,578
TOTAL CANADA				19,452,247
CAYMAN ISLANDS - 9.0%
APPAREL & TEXTILE PRODUCTS - 0.3%
Shenzhou International Group Holdings Ltd. (a)		48,000		817,389
BEVERAGES - 0.0% (b)
Uni-President China Holdings Ltd. (a)		140,000		128,395
BIOTECH & PHARMA - 0.2%
BeiGene Ltd. - ADR (c)		913		261,520
Genscript Biotech Corp. (a)(c)		128,000		211,015

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
CAYMAN ISLANDS - 9.0% (Continued)
BIOTECH & PHARMA - 0.2% (Continued)
Zai Lab Ltd. (c)		883	$	73,439
				545,974
CHEMICALS - 0.1%
Kingboard Holdings Ltd (a)		49,500		163,766
CONSUMER SERVICES - 0.6%
New Oriental Education & Technology Group, Inc. - ADR (c)		5,293		791,304
TAL Education Group - ADR (c)		11,328		861,381
				1,652,685
E-COMMERCE DISCRETIONARY - 3.4%
Alibaba Group Holdings Ltd. - ADR (c)		27,766		8,162,649
China Literature Ltd. (a)(c)		47,000		354,452
JD.com, Inc. - ADR (c)		15,448		1,198,919
Vipshop Holdings Ltd. - ADR (c)		15,804		247,175
				9,963,195
ENTERTAINMENT CONTENT - 0.3%
HUYA, Inc. - ADR (c)		7,637		182,906
NetEase, Inc. - ADR		1,850		841,139
				1,024,045
FORESTRY, PAPER & WOOD PRODUCTS - 0.1%
Lee & Man Paper Manufacturing Ltd. (a)		287,000		208,826
GAS & WATER UTILITIES - 0.0% (b)
ENN Energy Holdings Ltd. (a)		7,786		85,438
HEALTH CARE FACILITIES & SERVICES - 0.3%
Wuxi Biologics Cayman, Inc. (a)(c)		36,000		882,293
INTERNET MEDIA & SERVICES - 3.0%
51job, Inc. (c)		4,382		341,752
Autohome, Inc.		3,008		288,768
Baidu, Inc. - ADR (c)		7,182		909,169
JOYY, Inc. - ADR		4,578		369,307
Tencent Holdings Ltd. - ADR		89,186		6,033,433
Trip.com Group Ltd. - ADR (c)		19,149		596,300
Weibo Corp. - ADR (c)		6,782		247,068
				8,785,797

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
CAYMAN ISLANDS - 9.0% (Continued)
REAL ESTATE OWNERS & DEVELOPERS - 0.2%
Sunac China Holdings Ltd. (a)		70,000	$	275,786
Wharf Real Estate Investment Co. Ltd. (a)		76,932		315,350
				591,136
SOFTWARE - 0.1%
Kingdee International Software Group Co. Ltd. (a)(c)		100,000		260,831
TECHNOLOGY HARDWARE - 0.1%
Sunny Optical Technology Group Co. Ltd. (a)		25,000		388,309
TELECOMMUNICATIONS - 0.1%
GDS Holdings Ltd. - ADR (c)		4,644		380,019
TRANSPORTATION & LOGISTICS - 0.2%
ZTO Express Cayman, Inc. - ADR		19,738		590,561
TOTAL CAYMAN ISLANDS				26,468,659
CHILE - 0.3%
BEVERAGES - 0.0% (b)
Embotelladora Andina S.A. - Class B - ADR		6,720		87,360
CHEMICALS - 0.2%
Sociedad Quimica y Minera de Chile S.A. - ADR		12,136		393,449
ELECTRIC UTILITIES - 0.1%
Enel Americas S.A. - ADR		53,811		347,619
TOTAL CHILE				828,428
CHINA - 2.7%
ASSET MANAGEMENT - 0.0% (b)
Legend Holdings Corp. - H Shares (a)		87,200		106,261
BANKING - 0.9%
Bank of China Ltd. - H Shares (a)		2,743,000		853,131
China Construction Bank Corp. - ADR		65,455		848,951
China Construction Bank Corp. - H Shares (a)		731,000		474,985

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
CHINA - 2.7% (Continued)
BANKING - 0.9% (Continued)
China Merchants Bank Co. Ltd. - H Shares (a)		66,820	$	317,090
				2,494,157
HEALTH CARE FACILITIES & SERVICES - 0.2%
Sinopharm Group Co. Ltd. - H Shares (a)		202,000		426,868
INSURANCE - 0.8%
China Life Insurance Co. Ltd. - ADR		34,259		387,812
China Pacific Insurance Group Co. Ltd. - H Shares (a)		59,800		170,790
Ping An Insurance Group Co. of China Ltd. - ADR		42,425		880,743
Ping An Insurance Group Co. of China Ltd. - H Shares (a)		75,318		781,867
				2,221,212
LEISURE FACILITIES & SERVICES - 0.2%
Yum China Holdings, Inc.		12,656		670,135
REAL ESTATE OWNERS & DEVELOPERS - 0.4%
China Overseas Land & Investment Ltd. (a)		228,000		575,924
China Vanke Co. Ltd. - H Shares (a)		147,474		453,316
				1,029,240
RETAIL - DISCRETIONARY - 0.2%
ANTA Sports Products Ltd. (a)		56,000		584,441
TECHNOLOGY SERVICES - 0.0% (b)
TravelSky Technology Ltd. - H Shares (a)		62,000		133,259
TRANSPORTATION & LOGISTICS - 0.0% (b)
Guangshen Railway Co. Ltd. - ADR		8,797		73,543
TRANSPORTATION EQUIPMENT - 0.0% (b)
Zhuzhou CRRC Times Electric Co. Ltd. - H Shares (a)		21,010		70,594
TOTAL CHINA				7,809,710
COLOMBIA - 0.1%
BANKING - 0.1%
Bancolombia S.A. - ADR		10,721		273,922

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
DENMARK - 2.0%
BIOTECH & PHARMA - 0.9%
Genmab A/S (a)(c)		1,392	$	505,080
Novo Nordisk A/S - ADR		30,237		2,099,355
				2,604,435
CHEMICALS - 0.1%
Chr. Hansen Holding A/S (a)		1,296		143,840
ELECTRIC & GAS MARKETING & TRADING - 0.2%
Orsted A/S (a)		4,053		558,655
MEDICAL EQUIPMENT & DEVICES - 0.2%
Coloplast A/S - Series B (a)		3,561		564,285
RENEWABLE ENERGY - 0.2%
Vestas Wind Systems A/S (a)		4,203		679,119
RETAIL - DISCRETIONARY - 0.1%
Pandora A/S (a)		2,532		182,622
TRANSPORTATION & LOGISTICS - 0.3%
A.P. Moller-Maersk A/S - Series B (a)		180		284,511
DSV Panalpina A/S (a)		4,551		738,064
				1,022,575
TOTAL DENMARK				5,755,531
FINLAND - 0.9%
BANKING - 0.1%
Nordea Bank Abp (a)		26,318		199,942
ELECTRICAL EQUIPMENT - 0.2%
Kone OYJ - Class B (a)		6,339		556,661
FORESTRY, PAPER & WOOD PRODUCTS - 0.2%
Stora Enso OYJ - ADR		12,489		195,703
UPM-Kymmene OYJ (a)		14,351		436,859
				632,562

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
FINLAND - 0.9% (Continued)
INSURANCE - 0.0% (b)
Sampo OYJ - A Shares (a)		2,896	$	114,705
OIL & GAS SERVICES & EQUIPMENT - 0.2%
Neste OYJ (a)		9,891		520,928
TECHNOLOGY HARDWARE - 0.2%
Nokia Corp. - ADR (c)		163,044		637,502
TOTAL FINLAND				2,662,300
FRANCE - 6.4%
ADVERTISING & MARKETING - 0.1%
Publicis Groupe S.A. (a)		8,339		268,802
APPAREL & TEXTILE PRODUCTS - 0.6%
Hermes International (a)		830		714,936
Kering S.A. (a)		1,378		914,210
				1,629,146
ASSET MANAGEMENT - 0.3%
Groupe Bruxelles Lambert S.A. (a)		8,219		741,059
Wendel SE (a)		2,330		211,386
				952,445
AUTOMOTIVE - 0.4%
Cie Generale des Etablissements Michelin SCA (a)		1,074		115,307
Cie Generale des Etablissements Michelin SCA - ADR		18,110		388,822
Peugeot S.A. (a)(c)		14,994		271,945
Valeo S.A. (a)		9,422		289,371
				1,065,445
BANKING - 0.1%
Natixis S.A. (a)(c)		59,980		134,811
Worldline S.A. (a)(c)		3,620		296,457
				431,268
BIOTECH & PHARMA - 0.1%
Ipsen S.A. (a)		3,171		331,522
CHEMICALS - 0.5%
Air Liquide S.A. (a)		8,862		1,404,902

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
FRANCE - 6.4% (Continued)
CHEMICALS - 0.5% (Continued)
Air Liquide S.A. - ADR		3,602	$	114,580
				1,519,482
COMMERCIAL SUPPORT SERVICES - 0.1%
Edenred (a)		3,727		167,351
CONSTRUCTION MATERIALS - 0.1%
Cie de Saint-Gobain (a)(c)		4,600		192,707
ELECTRICAL EQUIPMENT - 0.7%
Legrand S.A. (a)		10,029		798,910
Schneider Electric SE (a)		9,145		1,136,867
				1,935,777
ENTERTAINMENT CONTENT - 0.2%
Vivendi S.A. (a)		9,270		258,936
Vivendi S.A. - ADR		11,623		323,933
				582,869
FOOD - 0.2%
Danone S.A. - ADR		51,015		657,583
HOUSEHOLD PRODUCTS - 0.8%
Henkel AG & Co. KGaA (a)		3,533		330,479
L'Oreal S.A. (a)		1,380		449,153
L'Oreal S.A. - ADR		22,540		1,468,481
				2,248,113
INSURANCE - 0.3%
AXA S.A. (a)		3,553		65,768
AXA S.A. - ADR		27,147		503,034
CNP Assurances (a)(c)		35,436		444,471
				1,013,273
LEISURE FACILITIES & SERVICES - 0.1%
Accor S.A. (a)(c)		4,093		114,579
TUI AG (a)(c)		48,894		184,103
				298,682
MEDICAL EQUIPMENT & DEVICES - 0.4%
EssilorLuxottica S.A. (a)(c)		4,150		565,042
Sartorius Sedim Biotech (a)		1,675		578,226
				1,143,268

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
FRANCE - 6.4% (Continued)
REITS - 0.4%
Covivio (a)		5,514	$	387,239
Gecina S.A. (a)		1,586		209,104
ICADE (a)		3,850		215,746
Klepierre S.A. (a)		12,195		170,728
Unibail-Rodamco-Westfield (a)		6,667		245,911
Unibail-Rodamco-Westfield - CDI (a)		45,646		80,979
				1,309,707
SOFTWARE - 0.2%
Dassault Systemes SE (a)		3,059		570,832
Dassault Systemes SE - ADR		745		139,676
				710,508
TECHNOLOGY HARDWARE - 0.1%
Ingenico Group S.A. (a)(c)		2,401		372,043
TECHNOLOGY SERVICES - 0.4%
Atos SE (a)(c)		1,575		126,578
Capgemini SE (a)		2,481		318,344
Capgemini SE		6,425		164,930
Teleperformance (a)		1,454		448,331
				1,058,183
TRANSPORTATION & LOGISTICS - 0.2%
Aeroports de Paris (a)(c)		2,041		202,504
Getlink SE (a)(c)		35,040		474,726
				677,230
TRANSPORTATION EQUIPMENT - 0.1%
Alstom S.A. (a)(c)		4,623		230,964
TOTAL FRANCE				18,796,368
GERMANY - 5.0%
APPAREL & TEXTILE PRODUCTS - 0.3%
adidas AG (a)(c)		1,323		427,310
adidas AG - ADR (c)		2,402		391,838
				819,148
AUTOMOTIVE - 0.5%
Bayerische Moteren Werke AG - ADR		2		48
Continental AG (a)		4,620		500,729

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
GERMANY - 5.0% (Continued)
AUTOMOTIVE - 0.5% (Continued)
Daimler AG (a)		18,669	$	1,007,237
				1,508,014
BIOTECH & PHARMA - 0.1%
Merck KGaA (a)		2,316		337,701
CHEMICALS - 0.8%
BASF SE (a)		2,739		166,817
BASF SE - ADR		62,644		957,827
Brenntag AG (a)		2,002		127,308
Covestro AG (a)		5,442		269,905
Symrise AG (a)		5,474		756,185
				2,278,042
DIVERSIFIED INDUSTRIALS - 0.7%
Siemens AG (a)		14,082		1,778,643
Siemens Energy AG (c)		7,041		189,895
				1,968,538
HEALTH CARE FACILITIES & SERVICES - 0.1%
Fresenius Medical Care AG & Co. KGaA - ADR		4,624		196,428
INSTITUTIONAL FINANCIAL SERVICES - 0.2%
Deutsche Boerse AG (a)		3,878		679,984
Deutsche Boerse AG - ADR		980		17,209
				697,193
INSURANCE - 0.9%
Allianz SE - ADR		76,050		1,456,357
Hannover Rueck SE (a)		1,527		236,428
Muenchener Rueckversicherungs-Gesellschaft AG (a)		1,787		454,348
Muenchener Rueckversicherungs-Gesellschaft AG - ADR		18,890		479,806
				2,626,939
MEDICAL EQUIPMENT & DEVICES - 0.0% (b)
Sartorius AG (a)		343		140,606
REAL ESTATE OWNERS & DEVELOPERS - 0.4%
Deutsche Wohnen SE (a)		9,595		479,616
Vonovia SE (a)		11,640		798,064
				1,277,680

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
GERMANY - 5.0% (Continued)
SEMICONDUCTORS - 0.2%
Infineon Technologies AG (a)		8,718	$	245,757
Infineon Technologies AG - ADR		12,109		341,958
				587,715
TELECOMMUNICATIONS - 0.3%
Deutsche Telekom AG (a)		16,807		279,875
Deutsche Telekom AG - ADR		30,009		505,652
				785,527
TRANSPORTATION & LOGISTICS - 0.5%
Deutsche Post AG (a)		10,161		461,123
Deutsche Post AG - ADR		14,832		673,966
Fraport AG Frankfurt Airport Services Worldwide (a)(c)		8,273		325,765
				1,460,854
TOTAL GERMANY				14,684,385
HONG KONG - 3.0%
AUTOMOTIVE - 0.1%
Geely Automobile Holdings Ltd. (a)		90,000		180,542
BANKING - 0.0% (b)
BOC Hong Kong Holdings Ltd. (a)		159		421
Hang Seng Bank Ltd. (a)		10,700		158,519
				158,940
BIOTECH & PHARMA - 0.2%
CSPC Pharmaceutical Group Ltd. (a)		177,600		346,685
Shanghai Fosun Pharmaceutical Group Co. Ltd. - H Shares (a)		29,000		121,403
				468,088
COMMERCIAL SUPPORT SERVICES - 0.1%
China Conch Venture Holdings Ltd. (a)		57,591		267,919
CONTAINERS & PACKAGING - 0.0% (b)
Nine Dragons Paper Holdings Ltd. (a)		302		381
INSTITUTIONAL FINANCIAL SERVICES - 0.4%
Hong Kong Exchanges & Clearing Ltd. (a)		26,978		1,269,952
INSURANCE - 0.7%
AIA Group Ltd. (a)		57,569		572,243

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
HONG KONG - 3.0% (Continued)
INSURANCE - 0.7% (Continued)
AIA Group Ltd. - ADR		36,902	$	1,470,545
				2,042,788
MACHINERY - 0.1%
Techtronic Industries Co. Ltd. (a)		24,500		325,746
MEDICAL EQUIPMENT & DEVICES - 0.1%
Shandong Weigao Group Medical Polymer Co. Ltd. - H Shares (a)		120,000		240,099
METALS & MINING - 0.0% (b)
Zhaojin Mining Industry Co. Ltd. - H Shares (a)		378		465
REAL ESTATE OWNERS & DEVELOPERS - 0.5%
Henderson Land Development Co. Ltd. (a)		265		985
Sino Land Co. Ltd. (a)		168,000		196,679
Sun Hung Kai Properties Ltd. (a)		38,037		490,166
Swire Pacific Ltd. - Class A (a)		379		1,835
Swire Properties Ltd. (a)		206,350		546,743
Wharf Holdings Ltd. (The) (a)		189,000		379,055
				1,615,463
REITS - 0.3%
Link REIT (a)		95,500		782,566
RETAIL - CONSUMER STAPLES - 0.0% (b)
Sun Art Retail Group Ltd. (a)		122,000		135,452
RETAIL - DISCRETIONARY - 0.2%
Zhongsheng Group Holdings Ltd. (a)		85,000		534,695
SEMICONDUCTORS - 0.0% (b)
Semiconductor Manufacturing International Corp. (a)(c)		49,000		114,717
TECHNOLOGY HARDWARE - 0.2%
AAC Technologies Holdings, Inc. (a)		37,423		203,602
Lenovo Group Ltd. (a)		562,000		371,575
				575,177

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
HONG KONG - 3.0% (Continued)
TRANSPORTATION & LOGISTICS - 0.1%
MTR Corp. Ltd. (a)		33,000	$	163,776
TOTAL HONG KONG				8,876,766
HUNGARY - 0.0% (b)
OIL & GAS PRODUCERS - 0.0% (b)
MOL Hungarian Oil & Gas plc - ADR (c)		6,368		16,875
INDIA - 2.5%
BANKING - 1.0%
HDFC Bank Ltd. - ADR (c)		33,194		1,658,372
ICICI Bank Ltd. - ADR (c)		136,436		1,341,166
				2,999,538
BIOTECH & PHARMA - 0.1%
Dr. Reddy's Laboratories Ltd. - ADR		5,000		347,800
METALS & MINING - 0.2%
Vedanta Ltd. - ADR		51,284		378,989
TECHNOLOGY SERVICES - 1.2%
Infosys Ltd. - ADR		131,713		1,818,957
Wipro Ltd. - ADR		361,463		1,698,876
				3,517,833
TOTAL INDIA				7,244,160
INDONESIA - 0.4%
BANKING - 0.2%
Bank Mandiri Persero Tbk PT - ADR		87,101		573,125
TELECOMMUNICATIONS - 0.2%
Telekomunikasi Indonesia Persero Tbk PT - ADR		42,006		729,644
TOTAL INDONESIA				1,302,769

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
IRELAND - 0.5%
CONSTRUCTION MATERIALS - 0.3%
CRH plc - ADR		21,717	$	783,767
James Hardie Industries plc - CDI (a)		6,710		160,777
				944,544
CONTAINERS & PACKAGING - 0.2%
Smurfit Kappa Group plc (a)		10,442		409,778
TOTAL IRELAND				1,354,322
ISRAEL - 0.5%
CHEMICALS - 0.0% (b)
ICL Group Ltd.		39,641		138,347
SOFTWARE - 0.5%
Check Point Software Technologies Ltd. (c)		5,242		630,822
CyberArk Software Ltd. (c)		2,299		237,763
Nice Ltd. - ADR (c)		2,630		597,089
				1,465,674
TOTAL ISRAEL				1,604,021
ITALY - 1.2%
BANKING - 0.1%
Mediobanca S.p.A. (a)		24,688		193,479
ELECTRIC UTILITIES - 0.7%
Enel S.p.A. (a)		163,414		1,417,957
Terna Rete Elettrica Nazionale S.p.A. (a)		81,018		566,944
				1,984,901
ELECTRICAL EQUIPMENT - 0.0% (b)
Prysmian S.p.A. (a)		6,056		175,815
GAS & WATER UTILITIES - 0.2%
Snam S.p.A. (a)		106,398		547,255
INSURANCE - 0.1%
Assicurazioni Generali S.p.A. (a)		14,497		204,354

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
ITALY - 1.2% (Continued)
RETAIL - DISCRETIONARY - 0.1%
Moncler S.p.A. (a)(c)		7,061	$	288,986
TELECOMMUNICATIONS - 0.0% (b)
Telecom Italia S.p.A.		423,679		169,909
TOTAL ITALY				3,564,699
JAPAN - 16.5%
APPAREL & TEXTILE PRODUCTS - 0.0% (b)
Wacoal Holdings Corp. - ADR		1,316		123,893
AUTOMOTIVE - 1.2%
Bridgestone Corp. (a)		22,456		709,667
Denso Corp. (a)		5,400		236,642
Honda Motor Co. Ltd (a)		17,400		413,117
Honda Motor Co. Ltd. - ADR		1,011		23,961
Toyota Motor Corp. - ADR		16,164		2,140,760
				3,524,147
BANKING - 0.4%
Mitsubishi UFJ Financial Group, Inc. - ADR		86,026		344,964
Mizuho Financial Group, Inc. (a)		48,220		601,741
Sumitomo Mitsui Trust Holdings, Inc. (a)		4,000		106,393
				1,053,098
BEVERAGES - 0.1%
Coca-Cola Bottlers Japan Holdings, Inc. (a)		11,900		199,165
BIOTECH & PHARMA - 1.3%
Chugai Pharmaceutical Co. Ltd. (a)		19,800		888,349
Daiichi Sankyo Co. Ltd. (a)		23,430		719,098
Daiichi Sankyo Co. Ltd. - ADR		1,901		178,124
Eisai Co. Ltd. (a)		2,827		258,143
Kyowa Kirin Co. Ltd. (a)		12,456		354,385
Ono Pharmaceutical Co. Ltd. (a)		18,100		569,196
Takeda Pharmaceutical Co. Ltd. (a)		5,800		207,266
Takeda Pharmaceutical Co. Ltd. - ADR		42,161		752,152
				3,926,713

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
JAPAN - 16.5% (Continued)
CHEMICALS - 0.4%
Asahi Kasei Corp. (a)		50,000	$	436,091
Asahi Kasei Corp. - ADR		2,152		37,789
Kansai Paint Co. Ltd. (a)		930		23,110
Shin-Etsu Chemical Co. Ltd. (a)		6,100		798,045
				1,295,035
COMMERCIAL SUPPORT SERVICES - 0.9%
Dai Nippon Printing Co. Ltd. (a)		34,618		701,551
Dai Nippon Printing Co. Ltd. - ADR		37		374
Recruit Holdings Co. Ltd. (a)		17,850		708,771
Secom Co. Ltd. (a)		6,500		594,727
Toppan Printing Co. Ltd. (a)		34,000		480,487
				2,485,910
CONSTRUCTION MATERIALS - 0.1%
AGC, Inc. (a)		10,000		293,833
CONSUMER SERVICES - 0.1%
Benesse Holdings, Inc. (a)		7,000		180,135
DIVERSIFIED INDUSTRIALS - 0.3%
Hitachi Ltd. (a)		19,200		649,966
Hitachi Ltd. - ADR		5,344		362,430
				1,012,396
E-COMMERCE DISCRETIONARY - 0.1%
Rakuten, Inc. (a)		17,154		184,932
ELECTRIC UTILITIES - 0.0% (b)
Chubu Electric Power Co., Inc. (a)		79		961
Kansai Electric Power Co., Inc. (The) (a)		81		785
				1,746
ELECTRICAL EQUIPMENT - 0.1%
Yokogawa Electric Corp. (a)		22,900		363,612
ENGINEERING & CONSTRUCTION - 0.0% (b)
Obayashi Corp. (a)		860		7,850
Taisei Corp. (a)		541		18,307
				26,157

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
JAPAN - 16.5% (Continued)
ENTERTAINMENT CONTENT - 0.1%
Nexon Co. Ltd. (a)		10,300	$	256,867
GAS & WATER UTILITIES - 0.0% (b)
Tokyo Gas Co. Ltd. (a)		6,000		136,894
HEALTH CARE FACILITIES & SERVICES - 0.2%
Alfresa Holdings Corp. (a)		15,600		341,612
Suzuken Co. Ltd. (a)		4,700		179,240
				520,852
HOME CONSTRUCTION - 0.3%
LIXIL Group Corp. (a)		15,100		305,142
Sekisui House Ltd. (a)		8,000		141,736
Sekisui House Ltd. - ADR		30,149		528,813
				975,691
HOUSEHOLD PRODUCTS - 0.7%
Kao Corp. (a)		12,845		964,083
Shiseido Co. Ltd. (a)		2,100		121,543
Shiseido Co. Ltd. - ADR		7,565		439,716
Unicharm Corp. (a)		11,200		500,797
				2,026,139
INDUSTRIAL SUPPORT SERVICES - 0.1%
Sumitomo Corp. (a)		23,254		280,257
INSTITUTIONAL FINANCIAL SERVICES - 0.1%
Japan Exchange Group, Inc. (a)		11,500		322,258
INSURANCE - 0.1%
Dai-ichi Life Holdings, Inc. (a)		16,346		230,600
INTERNET MEDIA & SERVICES - 0.3%
M3, Inc. (a)		11,200		692,645
Z Holdings Corp. (a)		40,036		267,362
				960,007
LEISURE FACILITIES & SERVICES - 0.1%
Oriental Land Co. Ltd. (a)		2,960		415,039

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
JAPAN - 16.5% (Continued)
LEISURE PRODUCTS - 0.4%
Shimano, Inc. (a)		2,084	$	411,286
Yamaha Corp. (a)		8,200		393,197
Yamaha Motor Co. Ltd. (a)		25,400		369,002
				1,173,485
MACHINERY - 1.3%
FANUC Corp. (a)		1,200		230,251
FANUC Corp. - ADR		14,250		273,030
Keyence Corp. (a)		3,600		1,682,575
Kubota Corp. (a)		24,000		429,924
Kubota Corp. - ADR		5,277		475,299
Makita Corp. (a)		79		3,780
SMC Corp. (a)		878		489,678
THK Co. Ltd. (a)		10,600		266,699
				3,851,236
MEDICAL EQUIPMENT & DEVICES - 0.9%
Hoya Corp. (a)		6,861		774,557
Hoya Corp. - ADR		1,273		144,575
Omron Corp. (a)		7,900		617,542
Shimadzu Corp. (a)		17,000		517,310
Sysmex Corp. (a)		1,700		162,625
Terumo Corp. (a)		10,972		436,756
				2,653,365
METALS & MINING - 0.1%
Sumitomo Metal Mining Co. Ltd. (a)		8,000		248,063
OIL & GAS PRODUCERS - 0.2%
ENEOS Holdings, Inc. (a)		29,200		104,160
Idemitsu Kosan Co. Ltd. (a)		48		1,025
Inpex Corp. (a)		88,729		476,037
				581,222
REAL ESTATE OWNERS & DEVELOPERS - 0.0% (b)
Mitsui Fudosan Co. Ltd. (a)		879		15,293
REITS - 0.3%
Japan Retail Fund Investment Corp. (a)		21		32,481
Nippon Prologis REIT, Inc. (a)		133		448,418

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
JAPAN - 16.5% (Continued)
REITS - 0.3% (Continued)
Nomura Real Estate Master Fund, Inc. (a)		222	$	278,057
				758,956
RETAIL - CONSUMER STAPLES - 0.4%
Aeon Co. Ltd. (a)		14,100		379,223
FamilyMart Co. Ltd. (a)		6,500		146,449
Pan Pacific International Holdings Corp. (a)		13,200		307,341
Welcia Holdings Co. Ltd. (a)		4,600		202,150
				1,035,163
RETAIL - DISCRETIONARY - 0.7%
Fast Retailing Co. Ltd. (a)		1,000		628,290
Hikari Tsushin, Inc. (a)		800		190,831
Isetan Mitsukoshi Holdings Ltd. (a)		24,100		127,918
Marui Group Co. Ltd. (a)		10,200		195,690
Nitori Holdings Co. Ltd. (a)		1,600		331,854
TOTO Ltd. (a)		4,000		184,279
USS Co. Ltd. (a)		15,320		274,069
Yamada Holdings Co. Ltd. (a)		35,400		176,501
				2,109,432
SEMICONDUCTORS - 0.3%
Advantest Corp. (a)		4,800		233,426
Tokyo Electron Ltd. (a)		1,900		496,281
Tokyo Electron Ltd. - ADR		1,464		95,101
				824,808
STEEL - 0.5%
Mitsui & Co. Ltd. (a)		52,000		893,320
Mitsui & Co. Ltd. - ADR		1,637		564,102
				1,457,422
TECHNOLOGY HARDWARE - 2.2%
Canon, Inc. - ADR		22,401		371,633
FUJIFILM Holdings Corp. - ADR		8,601		425,319
Murata Manufacturing Co. Ltd. (a)		12,900		838,676
Murata Manufacturing Co. Ltd. - ADR		916		14,803
Nidec Corp. - ADR		34,780		814,548
Nikon Corp. (a)		49,000		330,567
Nintendo Co. Ltd. (a)		300		169,972
Nintendo Co. Ltd. - ADR		14,840		1,052,156
Oracle Corp. Japan (a)(c)		1,200		129,545

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
JAPAN - 16.5% (Continued)
TECHNOLOGY HARDWARE - 2.2% (Continued)
Seiko Epson Corp. (a)		12,400	$	142,573
Sharp Corp. (a)		15,000		186,550
Sony Corp. - ADR		21,356		1,639,073
TDK Corp. (a)		3,800		414,846
				6,530,261
TECHNOLOGY SERVICES - 0.3%
Fujitsu Ltd. (a)		4,181		571,079
Nomura Research Institute Ltd. (a)		10,200		300,271
				871,350
TELECOMMUNICATIONS - 1.1%
KDDI Corp. (a)		1,918		48,231
KDDI Corp. - ADR		47,776		600,067
Nippon Telegraph & Telephone Corp. (a)		10,800		220,454
NTT DOCOMO, Inc. (a)		26,574		976,288
SoftBank Group Corp. (a)		14,400		890,808
SoftBank Group Corp. - ADR		17,290		531,840
				3,267,688
TRANSPORTATION & LOGISTICS - 0.2%
East Japan Railway Co. (a)		1,229		75,566
East Japan Railway Co. - ADR		5,418		55,697
Keikyu Corp. (a)		285		4,386
Keio Corp. (a)		981		60,717
Mitsui OSK Lines Ltd. (a)		16,000		315,836
				512,202
WHOLESALE - CONSUMER STAPLES - 0.6%
Marubeni Corp. (a)		91,000		516,536
Mitsubishi Corp. (a)		45,700		1,093,618
				1,610,154
TOTAL JAPAN				48,295,476
JERSEY - 0.6%
ADVERTISING & MARKETING - 0.1%
WPP plc (a)		34,966		274,616
INDUSTRIAL SUPPORT SERVICES - 0.2%
Ferguson plc (a)		508		51,119

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
JERSEY - 0.6% (Continued)
INDUSTRIAL SUPPORT SERVICES - 0.2% (Continued)
Ferguson plc - ADR		56,809	$	573,203
				624,322
METALS & MINING - 0.2%
Glencore plc (a)(c)		248,450		515,069
TECHNOLOGY SERVICES - 0.1%
Experian plc - ADR		11,145		419,609
TOTAL JERSEY				1,833,616
LUXEMBOURG - 0.3%
REAL ESTATE SERVICES - 0.0% (b)
Aroundtown S.A. (a)(c)		22,730		114,116
STEEL - 0.3%
ArcelorMittal S.A. (c)		28,068		371,901
Tenaris S.A. (a)(c)		85,651		426,777
				798,678
TOTAL LUXEMBOURG				912,794
MEXICO - 0.9%
BEVERAGES - 0.4%
Coca-Cola Femsa S.A.B. de C.V. - ADR		14,594		594,268
Fomento Economico Mexicano S.A.B. de C.V. - ADR		9,898		556,168
				1,150,436
CABLE & SATELLITE - 0.1%
Grupo Televisa S.A.B. - ADR (c)		39,194		242,219
RETAIL - CONSUMER STAPLES - 0.2%
Wal-Mart de Mexico S.A.B. de C.V. - ADR		26,389		631,753
TRANSPORTATION & LOGISTICS - 0.2%
Grupo Aeroportuario del Pacifico S.A.B. de C.V. - ADR		3,665		295,545
Grupo Aeroportuario del Sureste S.A.B. de C.V. - ADR (c)		2,464		285,898
				581,443
TOTAL MEXICO				2,605,851

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
NETHERLANDS - 3.4%
ASSET MANAGEMENT - 0.1%
Exor N.V. (a)		3,375	$	183,229
BANKING - 0.1%
ING Groep N.V. (a)		12,870		91,864
ING Groep N.V. - ADR (c)		40,673		287,965
				379,829
CHEMICALS - 0.4%
Akzo Nobel N.V. - ADR		9,200		311,144
Koninklijke DSM N.V. (a)		4,332		713,280
				1,024,424
HOUSEHOLD PRODUCTS - 0.5%
Unilever N.V. - ADR		25,983		1,569,373
INSURANCE - 0.0% (b)
Aegon N.V. (a)		42,579		110,223
INTERNET MEDIA & SERVICES - 0.2%
Prosus N.V. (a)(c)		5,540		511,426
Prosus N.V. - ADR (c)		4,090		75,788
				587,214
MEDICAL EQUIPMENT & DEVICES - 0.4%
Koninklijke Philips N.V. (c)		16,004		754,589
QIAGEN N.V. (c)		7,847		410,084
				1,164,673
RETAIL - CONSUMER STAPLES - 0.3%
Koninklijke Ahold Delhaize N.V. (a)		5,491		162,324
Koninklijke Ahold Delhaize N.V. - ADR		24,466		724,927
				887,251
SEMICONDUCTORS - 1.0%
ASML Holding N.V.		6,611		2,441,244
STMicroelectronics N.V.		14,434		442,979
				2,884,223
TECHNOLOGY SERVICES - 0.4%
Adyen N.V. (a)(c)		349		643,812
Wolters Kluwer N.V. (a)		7,150		609,995
				1,253,807
TOTAL NETHERLANDS				10,044,246

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
NEW ZEALAND - 0.1%
MEDICAL EQUIPMENT & DEVICES - 0.1%
Fisher & Paykel Healthcare Corp. Ltd. (a)		6,975	$	154,024
NORWAY - 0.9%
BANKING - 0.2%
DNB ASA (a)		31,805		443,016
METALS & MINING - 0.1%
Norsk Hydro ASA (a)(c)		107,859		297,683
OIL & GAS PRODUCERS - 0.6%
Equinor ASA - ADR		124,317		1,747,897
TOTAL NORWAY				2,488,596
PAPUA NEW GUINEA - 0.2%
OIL & GAS PRODUCERS - 0.2%
Oil Search Ltd. (a)		276,694		529,000
PHILIPPINES - 0.2%
TELECOMMUNICATIONS - 0.2%
PLDT, Inc.		20,806		562,802
PORTUGAL - 0.3%
ELECTRIC UTILITIES - 0.1%
EDP - Energias de Portugal S.A. (a)		50,604		248,850
OIL & GAS PRODUCERS - 0.2%
Galp Energia SGPS S.A. (a)		55,479		514,664
TOTAL PORTUGAL				763,514

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
RUSSIA - 0.3%
TELECOMMUNICATIONS - 0.3%
Mobile TeleSystems PJSC - ADR		86,910	$	758,724
SINGAPORE - 1.0%
BANKING - 0.3%
DBS Group Holdings Ltd. (a)		656		9,644
DBS Group Holdings Ltd. - ADR		15,058		892,186
United Overseas Bank Ltd. (a)		475		6,691
				908,521
ENGINEERING & CONSTRUCTION - 0.0% (b)
Keppel Corp. Ltd. (a)		841		2,755
REAL ESTATE OWNERS & DEVELOPERS - 0.3%
CapitaLand Ltd. (a)		144,000		287,898
City Developments Ltd. (a)		91,000		512,263
				800,161
REITS - 0.2%
Ascendas Real Estate Investment Trust (a)		69,000		165,106
CapitaLand Commercial Trust (a)		171,000		207,338
CapitaLand Mall Trust (a)		236,000		335,875
Keppel REIT (a)		737		582
				708,901
TECHNOLOGY HARDWARE - 0.1%
Venture Corp. Ltd. (a)		30,000		425,955
TELECOMMUNICATIONS - 0.1%
Singapore Telecommunications Ltd. (a)		115,000		179,976
TOTAL SINGAPORE				3,026,269
SOUTH AFRICA - 1.0%
BANKING - 0.2%
FirstRand Ltd. (a)		139,310		341,829
Standard Bank Group Ltd. (a)		37,092		238,219
				580,048

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
SOUTH AFRICA - 1.0% (Continued)
INTERNET MEDIA & SERVICES - 0.5%
Naspers Ltd. - Class N - ADR (c)		39,085	$	1,387,908
METALS & MINING - 0.3%
AngloGold Ashanti Ltd. - ADR		21,509		567,407
Gold Fields Ltd. - ADR		28,505		350,327
				917,734
TELECOMMUNICATIONS - 0.0% (b)
MTN Group Ltd. (a)		32,050		107,526
TOTAL SOUTH AFRICA				2,993,216
SOUTH KOREA - 3.0%
BANKING - 1.4%
KB Financial Group, Inc. - ADR		47,119		1,513,462
Shinhan Financial Group Co. Ltd. - ADR		64,375		1,478,694
Woori Financial Group, Inc. - ADR		53,168		1,173,949
				4,166,105
ELECTRIC UTILITIES - 0.2%
Korea Electric Power Corp. - ADR (c)		81,194		707,200
STEEL - 0.5%
POSCO - ADR		32,346		1,354,004
TECHNOLOGY HARDWARE - 0.1%
LG Display Co. Ltd. - ADR (c)		32,327		211,095
TELECOMMUNICATIONS - 0.8%
KT Corp. - ADR		90,367		868,427
SK Telecom Co. Ltd. - ADR		72,043		1,615,204
				2,483,631
TOTAL SOUTH KOREA				8,922,035
SPAIN - 1.6%
ELECTRIC UTILITIES - 0.5%
Iberdrola S.A. (a)		45,814		563,982
Iberdrola S.A. - ADR		16,749		828,908

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
SPAIN - 1.6% (Continued)
ELECTRIC UTILITIES - 0.5% (Continued)
Red Electrica Corp. S.A. (a)		5,984	$	112,247
				1,505,137
ENGINEERING & CONSTRUCTION - 0.1%
Cellnex Telecom S.A. (a)		6,341		384,968
GAS & WATER UTILITIES - 0.1%
Enagas S.A. (a)		12,896		297,591
OIL & GAS PRODUCERS - 0.4%
Repsol S.A. (a)		162,723		1,099,442
RETAIL - DISCRETIONARY - 0.3%
Industria de Diseno Textil S.A. (a)		28,211		780,545
Industria de Diseno Textil S.A. - ADR		3,926		54,689
				835,234
TECHNOLOGY SERVICES - 0.1%
Amadeus IT Group S.A. (a)		7,151		397,192
TELECOMMUNICATIONS - 0.1%
Telefónica S.A. (a)		67,025		229,630
TOTAL SPAIN				4,749,194
SWEDEN - 2.1%
ASSET MANAGEMENT - 0.4%
Kinnevik AB - Class B (a)(c)		20,728		841,139
L E Lundbergforetagen AB - B Shares (a)(c)		7,101		350,780
				1,191,919
BANKING - 0.0% (b)
Svenska Handelsbanken AB - A Shares (a)(c)		15,986		133,723
ELECTRICAL EQUIPMENT - 0.4%
Assa Abloy AB - Class B (a)		22,677		530,080
Hexagon AB - B Shares (a)(c)		8,347		630,342
				1,160,422

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
SWEDEN - 2.1% (Continued)
FORESTRY, PAPER & WOOD PRODUCTS - 0.1%
Svenska Cellulosa AB (SCA) - Class B (a)(c)		16,418	$	225,035
HOUSEHOLD PRODUCTS - 0.1%
Essity AB - Series B (a)(c)		12,219		412,442
MACHINERY - 0.6%
Atlas Copco AB - A Shares (a)		8,922		425,301
Atlas Copco AB - Class A - ADR		10,074		481,739
Epiroc AB - Class A (a)		10,412		150,799
Sandvik AB (a)(c)		17,709		346,233
Sandvik AB - ADR (c)		13,048		257,176
				1,661,248
METALS & MINING - 0.3%
Boliden AB (a)		25,785		764,897
RETAIL - CONSUMER STAPLES - 0.1%
ICA Gruppen AB (a)		3,322		168,728
RETAIL - DISCRETIONARY - 0.1%
Hennes & Mauritz AB - B Shares (a)		19,185		330,449
TOTAL SWEDEN				6,048,863
SWITZERLAND - 6.5%
ASSET MANAGEMENT - 0.4%
Pargesa Holding S.A. (a)		2,646		218,708
Partners Group Holding AG (a)		644		592,251
UBS Group AG		2		22
UBS Group AG (a)		22,324		249,381
				1,060,362
BEVERAGES - 0.0% (b)
Coca-Cola HBC AG (a)(c)		5,600		138,277
BIOTECH & PHARMA - 1.2%
Roche Holding AG - ADR		82,968		3,551,860

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
SWITZERLAND - 6.5% (Continued)
CHEMICALS - 0.4%
Givaudan S.A. (a)		272	$	1,174,240
COMMERCIAL SUPPORT SERVICES - 0.2%
Adecco Group AG (a)		7,911		417,354
Adecco Group AG - ADR		4,982		130,678
				548,032
CONSTRUCTION MATERIALS - 0.3%
LafargeHolcim Ltd. (a)(c)		12,805		582,777
Sika AG (a)		852		209,174
				791,951
ELECTRICAL EQUIPMENT - 0.3%
ABB Ltd. - ADR		36,454		927,754
FOOD - 2.0%
Barry Callebaut AG (a)		265		590,149
Nestlé S.A. - ADR		44,645		5,324,140
				5,914,289
HEALTH CARE FACILITIES & SERVICES - 0.4%
Lonza Group AG (a)		1,788		1,103,247
Lonza Group AG - ADR		1,070		66,094
				1,169,341
HOME CONSTRUCTION - 0.3%
Geberit AG (a)		1,441		852,383
INSTITUTIONAL FINANCIAL SERVICES - 0.2%
Credit Suisse Group AG (a)		51,770		516,715
Credit Suisse Group AG - ADR		11,870		118,344
				635,059
INSURANCE - 0.4%
Swiss Re AG (a)		4,969		368,531
Zurich Insurance Group AG - ADR		24,700		860,548
				1,229,079
MEDICAL EQUIPMENT & DEVICES - 0.1%
Sonova Holding AG (a)(c)		736		186,481

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
SWITZERLAND - 6.5% (Continued)
SOFTWARE - 0.1%
Temenos AG (a)		1,174	$	157,763
TECHNOLOGY HARDWARE - 0.1%
Logitech International S.A.		5,434		420,103
TELECOMMUNICATIONS - 0.1%
Swisscom AG (a)		512		271,189
TOTAL SWITZERLAND				19,028,163
TAIWAN - 4.6%
SEMICONDUCTORS - 3.6%
ASE Industrial Holding Co. Ltd. - ADR		126,937		517,903
Taiwan Semiconductor Manufacturing Co. Ltd. - ADR		105,119		8,521,997
United Microelectronics Corp. - ADR		318,743		1,526,779
				10,566,679
TECHNOLOGY HARDWARE - 0.2%
AU Optronics Corp. - ADR (c)		165,806		620,115
TELECOMMUNICATIONS - 0.8%
Chunghwa Telecom Co. Ltd. - ADR		66,939		2,425,200
TOTAL TAIWAN				13,611,994
TURKEY - 0.2%
TELECOMMUNICATIONS - 0.2%
Turkcell Iletisim Hizmetleri A.S. - ADR		96,207		460,832
UNITED KINGDOM - 6.8%
APPAREL & TEXTILE PRODUCTS - 0.1%
Burberry Group plc (a)		13,434		269,268
ASSET MANAGEMENT - 0.4%
3i Group plc (a)		68,813		883,632
Standard Life Aberdeen plc (a)		78,425		228,384
				1,112,016

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
UNITED KINGDOM - 6.8% (Continued)
BANKING - 0.4%
HSBC Holdings plc - ADR		56,627	$	1,108,757
Lloyds Banking Group plc (a)		437,921		148,635
Lloyds Banking Group plc - ADR (c)		46,547		60,511
				1,317,903
BEVERAGES - 0.1%
Coca-Cola European Partners plc		8,952		347,427
BIOTECH & PHARMA - 1.4%
AstraZeneca plc - ADR		43,708		2,395,198
GlaxoSmithKline plc - ADR		46,926		1,766,295
				4,161,493
COMMERCIAL SUPPORT SERVICES - 0.2%
Rentokil Initial plc (a)(c)		66,541		459,912
ELECTRIC UTILITIES - 0.3%
National Grid plc - ADR		6,347		366,793
SSE plc (a)		5,602		87,189
SSE plc - ADR		22,840		356,304
				810,286
ELECTRICAL EQUIPMENT - 0.2%
Halma plc (a)		17,839		538,938
HOME CONSTRUCTION - 0.2%
Berkeley Group Holdings plc (The) (a)		7,006		381,818
Persimmon plc (a)		4,262		135,820
Taylor Wimpey plc (a)		124,700		174,363
				692,001
HOUSEHOLD PRODUCTS - 0.5%
Reckitt Benckiser Group plc (a)		3,212		313,180
Reckitt Benckiser Group plc - ADR		57,335		1,126,633
				1,439,813
INDUSTRIAL SUPPORT SERVICES - 0.2%
Ashtead Group plc (a)		12,456		448,549
INSTITUTIONAL FINANCIAL SERVICES - 0.3%
London Stock Exchange Group plc (a)		7,929		909,571

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
UNITED KINGDOM - 6.8% (Continued)
INSURANCE - 0.5%
Aviva plc (a)		62,051	$	229,568
Legal & General Group plc (a)		242,904		592,543
Prudential plc - ADR		17,512		500,668
				1,322,779
LEISURE FACILITIES & SERVICES - 0.1%
InterContinental Hotels Group plc (a)(c)		732		38,422
InterContinental Hotels Group plc - ADR (c)		4,765		250,067
Whitbread plc (a)		5,132		140,151
				428,640
MACHINERY - 0.1%
Smiths Group plc (a)		11,841		209,382
METALS & MINING - 0.2%
Antofagasta plc (a)		54,457		718,316
PUBLISHING & BROADCASTING - 0.3%
Informa plc (a)		83,089		402,697
ITV plc (a)		307,997		268,492
PEARSON plc (a)		24,794		175,811
PEARSON plc - ADR		22,533		160,210
				1,007,210
REITS - 0.4%
British Land Co. plc (The) (a)		46,205		201,362
Land Securities Group plc (a)		36,444		245,302
Segro plc (a)		65,385		785,583
				1,232,247
RETAIL - CONSUMER STAPLES - 0.3%
Ocado Group plc (a)(c)		12,670		448,119
Tesco plc (a)		46,000		126,190
Tesco plc - ADR		29,931		246,332
				820,641
RETAIL - DISCRETIONARY - 0.1%
Kingfisher plc (a)		106,863		409,320
SOFTWARE - 0.2%
Sage Group plc (The) (a)		44,261		411,317

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
COMMON STOCKS - 98.0% (Continued)	Shares		Fair Value
UNITED KINGDOM - 6.8% (Continued)
SOFTWARE - 0.2% (Continued)
Sage Group plc (The) - ADR		2,320	$	86,560
				497,877
TECHNOLOGY SERVICES - 0.3%
RELX plc (a)		19,512		434,290
RELX plc - ADR		20,026		447,981
				882,271
TOTAL UNITED KINGDOM				20,035,860
UNITED STATES - 0.2%
ASSET MANAGEMENT - 0.1%
Noah Holdings Ltd. - ADR (c)		6,771		176,520
METALS & MINING - 0.1%
Impala Platinum Holdings Ltd.		38,967		343,163
TOTAL UNITED STATES				519,683
TOTAL COMMON STOCKS (COST $214,622,205)			$	287,467,648
PREFERRED STOCKS - 0.4%		Shares		Fair Value
BRAZIL - 0.4%
BANKING - 0.1%
Itau Unibanco Holding S.A. - ADR		92,356	$	367,577
TELECOMMUNICATIONS - 0.3%
Telefonica Brasil S.A. - ADR		94,896		727,852
TOTAL PREFERRED STOCKS (Cost $1,468,900)			$	1,095,429

Schedule of Portfolio Investments (Continued)
Praxis International Index Fund
CORPORATE NOTES - 0.9%	Coupon			Maturity		Par Value		Fair Value
COMMUNITY DEVELOPMENT - 0.9%
Calvert Social Investment Foundation, Inc. (d)		2.000	%		06/15/22	$	290,000	$	293,848
Calvert Social Investment Foundation, Inc. (d)		3.000	%		06/15/23		870,000		903,565
Calvert Social Investment Foundation, Inc. (d)		3.000	%		12/15/23		480,000		501,542
Calvert Social Investment Foundation, Inc. (d)		3.000	%		06/17/24		290,000		297,453
Calvert Social Investment Foundation, Inc. (d)		3.000	%		12/13/24		120,000		123,339
Calvert Social Investment Foundation, Inc. (d)		2.500	%		06/13/25		500,000		500,000
TOTAL CORPORATE NOTES (COST $2,550,000)								$	2,619,747

MONEY MARKET FUNDS - 0.5%	Shares		Fair Value
First American Government Obligations Fund - Class X, 0.07% (e) (COST $1,630,696)		1630696	$	1,630,696
TOTAL INVESTMENTS - (COST $220,271,801) - 99.8%			$	292,813,520
OTHER ASSETS IN EXCESS OF LIABILITIES - 0.2%				565,747
NET ASSETS - 100.0%			$	293,379,267

(a)	This security has been fair valued by the methods established by a systematic valuation model provided by an independent third-party pricing service under the guidelines established by the Board of Trustees.
(b)	Percentage rounds to less than 0.1%.
(c)	Non-income producing security.
(d)	Restricted and illiquid securities not registered under the Securities Act of 1933 are as follows:

	Acquisition Date	Current Cost		Fair Value		% of Net Assets
Calvert Social Investment Foundation, Inc.  2.000%, 06/15/22	06/17/19	$	290,000	$	293,848		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 06/15/23	06/18/18		870,000		903,565		0.3	%
Calvert Social Investment Foundation, Inc.  3.000%, 12/15/23	12/17/18		480,000		501,542		0.2	%
Calvert Social Investment Foundation, Inc.  3.000%, 06/17/24	06/17/19		290,000		297,453		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 12/13/24	12/12/19		120,000		123,339		0.0	%(b)
Calvert Social Investment Foundation, Inc.  2.500%, 06/13/20	06/12/20		500,000		500,000		0.2	%
		$	2,550,000	$	2,619,747		0.9	%

^(e) The rate shown is the 7-day effective yield as of September 30, 2020.

ADR - American Depositary Receipt

CDI - CHESS Depositary Interest

plc - Public Liability Company

REIT - Real Estate Investment Trust

Schedule of Portfolio Investments
Praxis Value Index Fund
September 30, 2020 (Unaudited)
COMMON STOCKS - 98.4%	Shares		Fair Value
ADVERTISING & MARKETING - 0.2%
Omnicom Group, Inc.	10,229	$	506,335
APPAREL & TEXTILE PRODUCTS - 1.0%
NIKE, Inc. - Class B	9,970		1,251,634
PVH Corp.	7,950		474,138
Tapestry, Inc.	19,220		300,408
VF Corp.	7,520		528,280
			2,554,460
ASSET MANAGEMENT - 1.0%
BlackRock, Inc.	1,962		1,105,685
Charles Schwab Corp. (The)	11,710		424,253
Franklin Resources, Inc.	21,740		442,409
Invesco Ltd.	44,902		512,332
			2,484,679
AUTOMOTIVE - 0.5%
Aptiv plc	4,830		442,814
BorgWarner, Inc.	7,240		280,478
Ford Motor Co.	65,763		437,982
			1,161,274
BANKING - 7.1%
Bank of America Corp.	185,430		4,467,009
Citigroup, Inc.	47,726		2,057,468
Citizens Financial Group, Inc.	10,900		275,552
Comerica, Inc.	9,200		351,900
Fifth Third Bancorp	19,490		415,527
First Republic Bank	4,430		483,136
Huntington Bancshares, Inc.	57,260		525,074
JPMorgan Chase & Co.	43,105		4,149,718
KeyCorp	40,568		483,976
M&T Bank Corp.	4,696		432,455
PNC Financial Services Group, Inc. (The)	14,391		1,581,715
Regions Financial Corp.	24,860		286,636
Truist Financial Corp.	38,990		1,483,569
U.S. Bancorp	51,257		1,837,563
			18,831,298
BEVERAGES - 2.7%
Coca-Cola Co. (The)	73,340		3,620,796

Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.4% (Continued)	Shares		Fair Value
BEVERAGES - 2.7% (Continued)
PepsiCo, Inc.		25,859	$	3,584,057
				7,204,853
BIOTECH & PHARMA - 8.7%
AbbVie, Inc.		22,556		1,975,680
Alexion Pharmaceuticals, Inc. (a)		4,360		498,915
Amgen, Inc.		7,744		1,968,215
Biogen, Inc. (a)		3,810		1,080,821
Bristol-Myers Squibb Co.		30,089		1,814,066
Eli Lilly & Co.		10,600		1,569,012
Gilead Sciences, Inc.		44,050		2,783,519
Johnson & Johnson		46,641		6,943,912
Merck & Co., Inc.		38,440		3,188,598
Mylan N.V. (a)		23,050		341,832
Regeneron Pharmaceuticals, Inc. (a)		760		425,433
Zoetis, Inc.		1,720		284,436
				22,874,439
CABLE & SATELLITE - 0.8%
Comcast Corp. - Class A		47,250		2,185,785
CHEMICALS - 2.3%
Air Products & Chemicals, Inc.		1,067		317,817
CF Industries Holdings, Inc.		14,010		430,247
Corteva, Inc.		11,220		323,248
DuPont de Nemours, Inc.		14,721		816,721
Eastman Chemical Co.		3,520		274,982
International Flavors & Fragrances, Inc.		2,880		352,656
Linde plc		7,326		1,744,540
LyondellBasell Industries N.V. - Class A		23,940		1,687,531
				5,947,742
COMMERCIAL SUPPORT SERVICES - 1.0%
Republic Services, Inc.		14,920		1,392,782
Waste Management, Inc.		10,150		1,148,676
				2,541,458
CONTAINERS & PACKAGING - 0.7%
Amcor plc		34,460		380,783
Ball Corp.		5,768		479,436
International Paper Co.		12,160		492,967

Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.4% (Continued)	Shares		Fair Value
CONTAINERS & PACKAGING - 0.7% (Continued)
WestRock Co.		10,430	$	362,338
				1,715,524
DIVERSIFIED INDUSTRIALS - 1.3%
Dover Corp.		3,103		336,179
Eaton Corp. plc		8,250		841,748
Emerson Electric Co.		9,264		607,440
Illinois Tool Works, Inc.		7,275		1,405,603
Pentair plc		6,840		313,067
				3,504,037
ELECTRIC UTILITIES - 6.5%
AES Corp. (The)		27,234		493,208
American Electric Power Co., Inc.		21,390		1,748,205
CMS Energy Corp.		6,220		381,970
Consolidated Edison, Inc.		23,821		1,853,274
DTE Energy Co.		6,870		790,325
Duke Energy Corp.		27,934		2,473,835
Edison International		16,567		842,266
Eversource Energy		19,800		1,654,290
NextEra Energy, Inc.		10,545		2,926,870
PPL Corp.		22,061		600,280
Sempra Energy		6,053		716,433
Southern Co. (The)		33,141		1,796,905
Xcel Energy, Inc.		13,514		932,601
				17,210,462
ELECTRICAL EQUIPMENT - 1.9%
Carrier Global Corp.		9,550		291,657
Johnson Controls International plc		29,087		1,188,204
Otis Worldwide Corp.		5,570		347,679
Rockwell Automation, Inc.		3,650		805,482
Roper Technologies, Inc.		1,170		462,279
TE Connectivity Ltd.		12,396		1,211,585
Trane Technologies plc		6,355		770,544
				5,077,430
ENTERTAINMENT CONTENT - 1.8%
Activision Blizzard, Inc.		17,400		1,408,530
Discovery, Inc. (a)		19,010		413,848
Electronic Arts, Inc. (a)		2,910		379,493

Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.4% (Continued)	Shares		Fair Value
ENTERTAINMENT CONTENT - 1.8% (Continued)
ViacomCBS, Inc. - Class B	14,746	$	413,035
Walt Disney Co. (The)	17,789		2,207,259
			4,822,165
FOOD - 2.8%
Campbell Soup Co.	7,050		341,009
Conagra Brands, Inc.	7,850		280,323
General Mills, Inc.	16,714		1,030,920
Hershey Co. (The)	2,830		405,652
Hormel Foods Corp.	14,460		706,949
J.M. Smucker Co. (The)	5,180		598,394
Kellogg Co.	11,990		774,434
Kraft Heinz Co. (The)	15,130		453,144
McCormick & Co., Inc.	2,450		475,545
Mondelez International, Inc. - Class A	39,932		2,294,093
			7,360,463
GAS & WATER UTILITIES - 0.4%
American Water Works Co., Inc.	1,830		265,130
NiSource, Inc.	29,770		654,940
			920,070
HEALTH CARE FACILITIES & SERVICES - 6.6%
AmerisourceBergen Corp.	4,630		448,740
Anthem, Inc.	6,020		1,616,912
Cardinal Health, Inc.	12,620		592,509
Centene Corp. (a)	14,930		870,867
Cigna Corp.	8,092		1,370,866
CVS Health Corp.	33,834		1,975,906
HCA Healthcare, Inc.	5,880		733,118
Humana, Inc.	2,650		1,096,808
IQVIA Holdings, Inc. (a)	2,920		460,280
Laboratory Corp. of America Holdings (a)	2,120		399,132
McKesson Corp.	5,714		850,986
UnitedHealth Group, Inc.	22,650		7,061,590
			17,477,714
HOME & OFFICE PRODUCTS - 0.3%
Newell Brands, Inc.	9,560		164,049
Whirlpool Corp.	3,512		645,822
			809,871

Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.4% (Continued)	Shares		Fair Value
HOUSEHOLD PRODUCTS - 2.4%
Church & Dwight Co., Inc.		3,240	$	303,620
Colgate-Palmolive Co.		17,318		1,336,084
Kimberly-Clark Corp.		3,750		553,725
Procter & Gamble Co. (The)		30,256		4,205,282
				6,398,711
INDUSTRIAL SUPPORT SERVICES - 0.3%
Fastenal Co.		9,380		422,944
W.W. Grainger, Inc.		1,090		388,879
				811,823
INSTITUTIONAL FINANCIAL SERVICES - 2.4%
Bank of New York Mellon Corp. (The)		25,784		885,423
CME Group, Inc.		6,200		1,037,322
Goldman Sachs Group, Inc. (The)		7,387		1,484,565
Intercontinental Exchange, Inc.		5,470		547,274
Morgan Stanley		24,461		1,182,689
Nasdaq, Inc.		2,400		294,504
Northern Trust Corp.		6,297		490,977
State Street Corp.		6,610		392,171
				6,314,925
INSURANCE - 5.6%
Aflac, Inc.		26,880		977,088
Allstate Corp. (The)		10,919		1,027,915
American International Group, Inc.		21,687		597,043
Aon plc - Class A		3,307		682,234
Arthur J. Gallagher & Co.		2,930		309,349
Berkley (W.R.) Corp.		6,070		371,180
Chubb Ltd.		16,937		1,966,726
Cincinnati Financial Corp.		7,712		601,305
Everest Re Group Ltd.		1,880		371,375
Globe Life, Inc.		6,860		548,114
Hartford Financial Services Group, Inc. (The)		13,050		481,023
Lincoln National Corp.		8,110		254,086
Loews Corp.		7,470		259,583
Marsh & McLennan Cos., Inc.		9,630		1,104,561
MetLife, Inc.		24,463		909,290
Principal Financial Group, Inc.		11,170		449,816
Progressive Corp. (The)		7,130		674,997
Prudential Financial, Inc.		27,250		1,730,920

Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.4% (Continued)	Shares		Fair Value
INSURANCE - 5.6% (Continued)
Travelers Cos., Inc. (The)		14,063	$	1,521,476
				14,838,081
INTERNET MEDIA & SERVICES - 0.7%
Alphabet, Inc. - Class A (a)		320		468,992
Booking Holdings, Inc. (a)		150		256,602
Expedia Group, Inc.		5,410		496,043
Twitter, Inc. (a)		12,880		573,160
				1,794,797
LEISURE FACILITIES & SERVICES - 1.1%
Carnival Corp.		28,663		435,105
McDonald's Corp.		9,470		2,078,570
Royal Caribbean Cruises Ltd.		7,340		475,118
				2,988,793
LEISURE PRODUCTS - 0.1%
Hasbro, Inc.		3,230		267,186
MACHINERY - 1.2%
Deere & Co.		4,107		910,235
Flowserve Corp.		15,640		426,816
Parker-Hannifin Corp.		1,557		315,043
Stanley Black & Decker, Inc.		6,680		1,083,496
Xylem, Inc.		5,620		472,754
				3,208,344
MEDICAL EQUIPMENT & DEVICES - 5.8%
Abbott Laboratories		25,240		2,746,869
Baxter International, Inc.		10,082		810,795
Becton, Dickinson and Co.		8,300		1,931,244
Boston Scientific Corp. (a)		11,810		451,260
Cooper Cos., Inc. (The)		1,170		394,430
Danaher Corp.		11,780		2,536,587
DENTSPLY SIRONA, Inc.		8,810		385,261
Illumina, Inc. (a)		1,180		364,714
Medtronic plc		30,730		3,193,462
Mettler-Toledo International, Inc. (a)		290		280,068
Stryker Corp.		3,470		723,044
Thermo Fisher Scientific, Inc.		2,744		1,211,531
Varian Medical Systems, Inc. (a)		1,980		340,560
				15,369,825

Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.4% (Continued)	Shares		Fair Value
METALS & MINING - 0.5%
Newmont Corp.		21,440	$	1,360,368
OIL & GAS PRODUCERS - 2.1%
ConocoPhillips		44,157		1,450,116
Hess Corp.		18,720		766,210
Marathon Oil Corp.		172,610		705,975
Noble Energy, Inc.		72,038		615,925
ONEOK, Inc.		9,825		255,253
Valero Energy Corp.		42,220		1,828,970
				5,622,449
OIL & GAS SERVICES & EQUIPMENT - 1.4%
Baker Hughes Co.		93,000		1,235,970
Schlumberger Ltd.		157,816		2,455,617
				3,691,587
REAL ESTATE SERVICES - 0.6%
CBRE Group, Inc. - Class A (a)		33,030		1,551,419
REITS - 3.4%
AvalonBay Communities, Inc.		3,130		467,434
Boston Properties, Inc.		2,990		240,097
Crown Castle International Corp.		4,160		692,640
Digital Realty Trust, Inc.		15,110		2,217,544
Equity Residential		10,400		533,832
Host Hotels & Resorts, Inc.		43,890		473,573
Iron Mountain, Inc.		22,570		604,650
Kimco Realty Corp.		22,420		252,449
Prologis, Inc.		9,230		928,723
Public Storage		1,920		427,622
Realty Income Corp.		4,390		266,693
Regency Centers Corp.		830		31,557
Simon Property Group, Inc.		9,489		613,749
Ventas, Inc.		10,570		443,517
Welltower, Inc.		9,100		501,319
Weyerhaeuser Co.		11,149		317,969
				9,013,368
RETAIL - CONSUMER STAPLES - 3.5%
Costco Wholesale Corp.		4,920		1,746,600
Dollar Tree, Inc. (a)		4,230		386,368

Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.4% (Continued)	Shares		Fair Value
RETAIL - CONSUMER STAPLES - 3.5% (Continued)
Kroger Co. (The)		11,374	$	385,693
Target Corp.		3,350		527,357
Walgreen Boots Alliance, Inc.		23,650		849,508
Walmart, Inc.		37,430		5,236,831
				9,132,357
RETAIL - DISCRETIONARY - 1.6%
Best Buy Co., Inc.		4,590		510,821
Genuine Parts Co.		4,570		434,927
Home Depot, Inc. (The)		7,402		2,055,609
L Brands, Inc.		9,310		296,151
Lowe's Cos., Inc.		5,760		955,354
				4,252,862
SEMICONDUCTORS - 1.1%
Intel Corp.		39,878		2,064,883
Texas Instruments, Inc.		6,290		898,149
				2,963,032
SOFTWARE - 1.2%
Cerner Corp.		5,350		386,752
Microsoft Corp.		3,090		649,920
NortonLifeLock, Inc.		23,950		499,118
Oracle Corp.		20,392		1,217,402
salesforce.com, Inc. (a)		1,770		444,836
				3,198,028
SPECIALTY FINANCE - 0.7%
American Express Co.		8,404		842,501
Capital One Financial Corp.		12,040		865,194
				1,707,695
STEEL - 0.1%
Nucor Corp.		6,590		295,627
TECHNOLOGY HARDWARE - 2.3%
Cisco Systems, Inc.		109,350		4,307,297
Corning, Inc.		14,610		473,510
HP, Inc.		36,560		694,274
Juniper Networks, Inc.		21,720		466,980
Western Digital Corp.		5,865		214,366
				6,156,427

Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.4% (Continued)	Shares		Fair Value
TECHNOLOGY SERVICES - 4.4%
Accenture plc - Class A		8,940	$	2,020,351
Automatic Data Processing, Inc.		5,210		726,743
Cognizant Technology Solutions Corp. - Class A		10,620		737,240
DXC Technology Co.		15,380		274,533
Fidelity National Information Services, Inc.		16,860		2,481,961
Global Payments, Inc.		3,950		701,441
International Business Machines Corp.		21,862		2,659,949
Nielsen Holdings plc		23,380		331,528
Paychex, Inc.		3,684		293,873
S&P Global, Inc.		700		252,420
Verisk Analytics, Inc.		4,690		869,104
Visa, Inc. - Class A		1,780		355,947
				11,705,090
TELECOMMUNICATIONS - 4.8%
AT&T, Inc.		182,906		5,214,650
CenturyLink, Inc.		30,728		310,045
T-Mobile US, Inc. (a)		8,350		954,906
Verizon Communications, Inc.		104,110		6,193,504
				12,673,105
TRANSPORTATION & LOGISTICS - 3.4%
American Airlines Group, Inc.		41,240		506,840
CSX Corp.		9,290		721,554
Delta Air Lines, Inc.		15,560		475,825
Expeditors International of Washington, Inc.		3,170		286,948
FedEx Corp.		6,660		1,675,123
J.B. Hunt Transport Services, Inc.		1,880		237,594
Norfolk Southern Corp.		2,680		573,493
Southwest Airlines Co.		15,350		575,625
Union Pacific Corp.		6,650		1,309,186
United Airlines Holdings, Inc. (a)		12,530		435,418
United Parcel Service, Inc. - Class B		13,500		2,249,505
				9,047,111
WHOLESALE - CONSUMER STAPLES - 0.1%
Sysco Corp.		4,750		295,545
TOTAL COMMON STOCKS (COST $226,736,387)			$	259,848,614

Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
CORPORATE NOTES - 0.9%	Coupon			Maturity		Principal Amount		Fair Value
COMMUNITY DEVELOPMENT - 0.9%
Calvert Social Investment Foundation, Inc. (b)		2.000	%		06/15/22	$	280,000	$	283,715
Calvert Social Investment Foundation, Inc. (b)		3.000	%		06/15/23		450,000		467,361
Calvert Social Investment Foundation, Inc. (b)		3.000	%		12/15/23		720,000		752,314
Calvert Social Investment Foundation, Inc. (b)		3.000	%		06/17/24		280,000		287,196
Calvert Social Investment Foundation, Inc. (b)		3.000	%		12/13/24		250,000		256,955
Calvert Social Investment Foundation, Inc. (b)		2.500	%		06/13/25		280,000		280,000
TOTAL CORPORATE NOTES (COST $2,260,000)								$	2,327,541

MONEY MARKET FUNDS - 0.7%	Shares		Fair Value
First American Government Obligations Fund - Class X, 0.07% (c) (COST $1,904,032)		1,904,032	$	1,904,032
TOTAL INVESTMENTS - (COST $230,900,419) - 100.0%			$	264,080,187
OTHER ASSETS IN EXCESS OF LIABILITIES - 0.0% (d)				58,697
NET ASSETS - 100.0%			$	264,138,884

(a)	Non-income producing security.
(b)	Restricted and illiquid securities not registered under the Securities Act of 1933 are as follows:

	Acquisition Date	Current Cost		Fair Value		% of Net Assets
Calvert Social Investment Foundation, Inc.  2.000%, 06/15/22	06/17/19	$	280,000	$	283,715		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 06/15/23	06/18/18		450,000		467,361		0.2	%
Calvert Social Investment Foundation, Inc.  3.000%, 12/15/23	12/17/18		720,000		752,314		0.3	%
Calvert Social Investment Foundation, Inc.  3.000%, 06/17/24	06/17/19		280,000		287,196		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 12/13/24	12/12/19		250,000		256,955		0.1	%
Calvert Social Investment Foundation, Inc.  2.500%, 06/13/25	06/12/20		280,000		280,000		0.1	%
		$	2,260,000	$	2,327,541		0.9	%

(c)	The rate shown is the 7-day effective yield as of September 30, 2020.
(d)	Percentage rounds to less than 0.1%.

plc - Public Liability Company

Schedule of Portfolio Investments
Praxis Growth Index Fund
September 30, 2020 (Unaudited)
COMMON STOCKS - 98.7%	Shares		Fair Value
APPAREL & TEXTILE PRODUCTS - 0.6%
NIKE, Inc. - Class B	17,217	$	2,161,422
ASSET MANAGEMENT - 0.4%
BlackRock, Inc.	1,273		717,399
Charles Schwab Corp. (The)	17,708		641,561
			1,358,960
BANKING - 1.0%
JPMorgan Chase & Co.	32,285		3,108,077
PNC Financial Services Group, Inc. (The)	4,203		461,952
			3,570,029
BEVERAGES - 1.3%
Coca-Cola Co. (The)	38,120		1,881,984
PepsiCo, Inc.	19,670		2,726,262
			4,608,246
BIOTECH & PHARMA - 4.7%
AbbVie, Inc.	20,431		1,789,551
Alexion Pharmaceuticals, Inc. (a)	2,861		327,384
Amgen, Inc.	7,554		1,919,925
Bristol-Myers Squibb Co.	28,376		1,710,789
Eli Lilly & Co.	7,120		1,053,902
Incyte Corp. (a)	4,067		364,973
Johnson & Johnson	20,108		2,993,679
Merck & Co., Inc.	32,671		2,710,059
Regeneron Pharmaceuticals, Inc. (a)	1,481		829,034
Vertex Pharmaceuticals, Inc. (a)	5,704		1,552,173
Zoetis, Inc.	11,310		1,870,335
			17,121,804
CABLE & SATELLITE - 1.1%
Charter Communications, Inc. - Class A (a)	2,752		1,718,184
Comcast Corp. - Class A	53,294		2,465,380
			4,183,564
CHEMICALS - 2.0%
Air Products & Chemicals, Inc.	6,288		1,872,944
Avery Dennison Corp.	2,718		347,469
Dow, Inc.	17,187		808,648
Ecolab, Inc.	2,074		414,468
Linde plc	9,888		2,354,629

Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
COMMON STOCKS - 98.7% (Continued)	Shares		Fair Value
CHEMICALS - 2.0% (Continued)
Sherwin-Williams Co. (The)		2,017	$	1,405,325
				7,203,483
COMMERCIAL SUPPORT SERVICES - 0.9%
Republic Services, Inc.		3,583		334,473
Waste Management, Inc.		24,894		2,817,254
				3,151,727
CONSTRUCTION MATERIALS - 0.1%
Martin Marietta Materials, Inc.		1,616		380,342
CONTAINERS & PACKAGING - 0.3%
Ball Corp.		11,453		951,973
DIVERSIFIED INDUSTRIALS - 0.8%
Dover Corp.		3,517		381,032
Emerson Electric Co.		6,411		420,369
Illinois Tool Works, Inc.		10,194		1,969,583
				2,770,984
E-COMMERCE DISCRETIONARY - 7.7%
Amazon.com, Inc. (a)		8,700		27,393,951
eBay, Inc.		17,315		902,112
				28,296,063
ELECTRIC UTILITIES - 0.6%
Eversource Energy		3,020		252,321
NextEra Energy, Inc.		5,626		1,561,552
Sempra Energy		3,783		447,756
				2,261,629
ELECTRICAL EQUIPMENT - 1.9%
Allegion plc		2,650		262,112
AMETEK, Inc.		6,609		656,935
Amphenol Corp. - Class A		6,146		665,427
Carrier Global Corp.		9,910		302,651
Johnson Controls International plc		7,170		292,895
Keysight Technologies, Inc. (a)		4,941		488,072
Otis Worldwide Corp.		5,220		325,832
Rockwell Automation, Inc.		4,888		1,078,684
Roper Technologies, Inc.		3,519		1,390,392
TE Connectivity Ltd.		6,810		665,609

Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
COMMON STOCKS - 98.7% (Continued)	Shares		Fair Value
ELECTRICAL EQUIPMENT - 1.9% (Continued)
Trane Technologies plc		5,595	$	678,394
				6,807,003
ENTERTAINMENT CONTENT - 1.1%
Electronic Arts, Inc. (a)		2,965		386,666
Fox Corp. - Class B		16,731		467,966
Walt Disney Co. (The)		25,353		3,145,800
				4,000,432
FOOD - 0.3%
General Mills, Inc.		4,080		251,655
Hershey Co. (The)		3,010		431,453
Lamb Weston Holdings, Inc.		5,200		344,604
				1,027,712
GAS & WATER UTILITIES - 0.1%
American Water Works Co., Inc.		1,860		269,477
HEALTH CARE FACILITIES & SERVICES - 0.2%
Henry Schein, Inc. (a)		3,890		228,654
IQVIA Holdings, Inc. (a)		2,768		436,320
McKesson Corp.		1,680		250,202
				915,176
HOME CONSTRUCTION - 0.4%
D.R. Horton, Inc.		6,078		459,679
Masco Corp.		8,006		441,371
NVR, Inc. (a)		145		592,052
				1,493,102
HOUSEHOLD PRODUCTS - 1.8%
Church & Dwight Co., Inc.		3,111		291,532
Colgate-Palmolive Co.		6,077		468,840
Estée Lauder Cos., Inc. (The) - Class A		4,119		898,972
Kimberly-Clark Corp.		4,951		731,065
Procter & Gamble Co. (The)		29,927		4,159,554
				6,549,963
INDUSTRIAL SUPPORT SERVICES - 0.5%
Fastenal Co.		16,064		724,326
United Rentals, Inc. (a)		2,770		483,365
W.W. Grainger, Inc.		1,230		438,827
				1,646,518

Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
COMMON STOCKS - 98.7% (Continued)	Shares		Fair Value
INSTITUTIONAL FINANCIAL SERVICES - 0.3%
CME Group, Inc.		3,998	$	668,905
Intercontinental Exchange, Inc.		5,631		563,382
				1,232,287
INSURANCE - 0.7%
Aflac, Inc.		8,308		301,996
Aon plc - Class A		3,286		677,902
Marsh & McLennan Cos., Inc.		8,240		945,128
Progressive Corp. (The)		4,218		399,318
Willis Towers Watson plc		1,560		325,759
				2,650,103
INTERNET MEDIA & SERVICES - 10.4%
Alphabet, Inc. - Class A (a)		5,155		7,555,168
Alphabet, Inc. - Class C (a)		7,156		10,516,458
Booking Holdings, Inc. (a)		915		1,565,272
Facebook, Inc. - Class A (a)		50,155		13,135,594
Netflix, Inc. (a)		9,792		4,896,294
VeriSign, Inc. (a)		2,251		461,117
				38,129,903
LEISURE FACILITIES & SERVICES - 1.9%
Chipotle Mexican Grill, Inc. (a)		617		767,369
Darden Restaurants, Inc.		110		11,082
Domino's Pizza, Inc.		680		289,190
Hilton Worldwide Holdings, Inc.		7,789		664,558
Marriott International, Inc. - Class A		6,393		591,864
McDonald's Corp.		7,317		1,606,008
Starbucks Corp.		27,592		2,370,705
Yum! Brands, Inc.		7,084		646,769
				6,947,545
MACHINERY - 0.6%
Deere & Co.		5,676		1,257,972
Parker-Hannifin Corp.		1,542		312,008
Xylem, Inc.		7,810		656,977
				2,226,957
MEDICAL EQUIPMENT & DEVICES - 5.2%
Abbott Laboratories		21,136		2,300,231
Agilent Technologies, Inc.		4,775		481,989
Align Technology, Inc. (a)		2,261		740,161
Baxter International, Inc.		5,675		456,384

Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
COMMON STOCKS - 98.7% (Continued)	Shares		Fair Value
MEDICAL EQUIPMENT & DEVICES - 5.2% (Continued)
Bio-Rad Laboratories, Inc. - Class A (a)		500	$	257,730
Boston Scientific Corp. (a)		20,247		773,638
Cooper Cos., Inc. (The)		1,161		391,396
Danaher Corp.		9,774		2,104,635
DENTSPLY SIRONA, Inc.		6,000		262,380
DexCom, Inc. (a)		1,940		799,726
Edwards Lifesciences Corp. (a)		12,210		974,602
Hologic, Inc. (a)		6,559		435,977
IDEXX Laboratories, Inc. (a)		2,060		809,807
Illumina, Inc. (a)		1,958		605,179
Mettler-Toledo International, Inc. (a)		600		579,450
PerkinElmer, Inc.		2,370		297,459
ResMed, Inc.		3,458		592,805
STERIS plc		2,144		377,751
Teleflex, Inc.		1,350		459,567
Thermo Fisher Scientific, Inc.		10,795		4,766,208
Waters Corp. (a)		1,646		322,089
West Pharmaceutical Services, Inc.		1,430		393,107
				19,182,271
OIL & GAS PRODUCERS - 0.3%
ConocoPhillips		22,543		740,312
Hess Corp.		8,179		334,767
				1,075,079
OIL & GAS SERVICES & EQUIPMENT - 0.2%
Baker Hughes Co.		17,400		231,246
Schlumberger Ltd.		30,760		478,626
				709,872
REAL ESTATE SERVICES - 0.3%
CBRE Group, Inc. - Class A (a)		24,213		1,137,285
REITS - 2.1%
Alexandria Real Estate Equities, Inc.		1,991		318,560
American Tower Corp.		9,082		2,195,392
Crown Castle International Corp.		4,829		804,028
Equinix, Inc.		2,077		1,578,790
Extra Space Storage, Inc.		2,720		291,013
Healthpeak Properties, Inc.		11,789		320,071

Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
COMMON STOCKS - 98.7% (Continued)	Shares		Fair Value
REITS - 2.1% (Continued)
Iron Mountain, Inc.		18,158	$	486,453
Prologis, Inc.		8,827		888,173
SBA Communications Corp.		2,698		859,259
				7,741,739
RETAIL - CONSUMER STAPLES - 1.1%
Costco Wholesale Corp.		4,063		1,442,365
Dollar General Corp.		5,953		1,247,868
Target Corp.		8,134		1,280,454
				3,970,687
RETAIL - DISCRETIONARY - 2.9%
AutoZone, Inc. (a)		469		552,313
CarMax, Inc. (a)		3,220		295,950
Genuine Parts Co.		5,833		555,127
Home Depot, Inc. (The)		16,776		4,658,863
Lowe's Cos., Inc.		9,809		1,626,921
O'Reilly Automotive, Inc. (a)		1,110		511,799
Ross Stores, Inc.		8,895		830,081
Tiffany & Co.		2,160		250,236
TJX Cos., Inc. (The)		25,363		1,411,451
				10,692,741
SEMICONDUCTORS - 7.2%
Advanced Micro Devices, Inc. (a)		25,831		2,117,884
Analog Devices, Inc.		8,424		983,418
Applied Materials, Inc.		22,796		1,355,222
Broadcom, Inc.		9,079		3,307,661
Intel Corp.		57,987		3,002,567
KLA Corp.		4,142		802,471
Lam Research Corp.		3,673		1,218,518
Micron Technology, Inc. (a)		19,765		928,164
NVIDIA Corp.		12,429		6,726,823
QUALCOMM, Inc.		26,110		3,072,625
Skyworks Solutions, Inc.		3,648		530,784
Texas Instruments, Inc.		13,417		1,915,813
Xilinx, Inc.		4,619		481,485
				26,443,435
SOFTWARE - 15.4%
Adobe, Inc. (a)		10,077		4,942,063
Akamai Technologies, Inc. (a)		2,340		258,664

Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
COMMON STOCKS - 98.7% (Continued)	Shares		Fair Value
SOFTWARE - 15.4% (Continued)
ANSYS, Inc. (a)		1,778	$	581,815
Autodesk, Inc. (a)		4,626		1,068,652
Cadence Design Systems, Inc. (a)		7,094		756,433
Cerner Corp.		2,940		212,533
Citrix Systems, Inc.		2,932		403,766
Fortinet, Inc. (a)		4,150		488,911
Intuit, Inc.		6,400		2,087,744
Microsoft Corp.		168,288		35,396,015
Oracle Corp.		29,220		1,744,434
Paycom Software, Inc. (a)		1,270		395,351
salesforce.com, inc. (a)		20,427		5,133,714
ServiceNow, Inc. (a)		3,843		1,863,855
Synopsys, Inc. (a)		2,920		624,821
Tyler Technologies, Inc. (a)		720		250,963
				56,209,734
SPECIALTY FINANCE - 0.3%
American Express Co.		7,894		791,373
Discover Financial Services		5,370		310,279
				1,101,652
TECHNOLOGY HARDWARE - 11.5%
Apple, Inc.		351,448		40,701,193
Arista Networks, Inc. (a)		1,860		384,890
Corning, Inc.		8,980		291,042
Garmin Ltd.		3,784		358,950
Western Digital Corp.		1,970		72,003
Zebra Technologies Corp. - Class A (a)		1,267		319,867
				42,127,945
TECHNOLOGY SERVICES - 8.6%
Accenture plc - Class A		9,729		2,198,657
Automatic Data Processing, Inc.		5,950		829,966
Broadridge Financial Solutions, Inc.		2,596		342,672
Fiserv, Inc. (a)		14,476		1,491,752
FleetCor Technologies, Inc. (a)		2,434		579,535
Gartner, Inc. (a)		3,640		454,818
Global Payments, Inc.		1,700		301,886
IHS Markit Ltd.		3,297		258,848
MarketAxess Holdings, Inc.		960		462,326
Mastercard, Inc. - Class A		19,576		6,620,016

Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
COMMON STOCKS - 98.7% (Continued)	Shares		Fair Value
TECHNOLOGY SERVICES - 8.6% (Continued)
Moody's Corp.		4,415	$	1,279,688
MSCI, Inc.		1,797		641,134
Paychex, Inc.		6,525		520,499
PayPal Holdings, Inc. (a)		26,707		5,262,080
S&P Global, Inc.		6,654		2,399,432
Verisk Analytics, Inc.		1,585		293,716
Visa, Inc. - Class A		38,093		7,617,457
				31,554,482
TRANSPORTATION & LOGISTICS - 1.6%
CSX Corp.		6,407		497,632
J.B. Hunt Transport Services, Inc.		4,820		609,152
Kansas City Southern		2,079		375,946
Norfolk Southern Corp.		2,169		464,144
Old Dominion Freight Line, Inc.		3,310		598,845
Union Pacific Corp.		9,161		1,803,526
United Airlines Holdings, Inc. (a)		10,340		359,315
United Parcel Service, Inc. - Class B		5,945		990,615
				5,699,175
WHOLESALE - CONSUMER STAPLES - 0.2%
Sysco Corp.		9,960		619,711
WHOLESALE - DISCRETIONARY - 0.1%
Copart, Inc. (a)		5,108		537,157
TOTAL COMMON STOCKS (COST $165,922,803)			$	360,719,369

CORPORATE NOTES - 0.8%	Coupon			Maturity		Principal Amount		Fair Value
COMMUNITY DEVELOMENT - 0.8%
Calvert Social Investment Foundation, Inc. (b)		2.000	%		06/15/22	$	550,000	$	557,298
Calvert Social Investment Foundation, Inc. (b)		3.000	%		06/15/23		900,000		934,722
Calvert Social Investment Foundation, Inc. (b)		3.000	%		12/15/23		200,000		208,976
Calvert Social Investment Foundation, Inc. (b)		3.000	%		06/17/24		550,000		564,135
Calvert Social Investment Foundation, Inc. (b)		3.000	%		12/13/24		150,000		154,173

Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
CORPORATE NOTES - 0.8% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
COMMUNITY DEVELOPMENT - 0.8% (Continued)
Calvert Social Investment Foundation, Inc. (b)		2.500	%		06/13/25	$	670,000	$	670,000
TOTAL CORPORATE NOTES (COST $3,020,000)								$	3,089,304

MONEY MARKET FUNDS - 0.4%	Shares		Fair Value
First American Government Obligations Fund - Class X, 0.07% (c) (COST $1,374,586)		1,374,586	$	1,374,586
TOTAL INVESTMENTS - (COST $170,317,389) - 99.9%			$	365,183,259
OTHER ASSETS IN EXCESS OF LIABILITIES - 0.1%				239,827
NET ASSETS - 100.0%			$	365,423,086

(a)	Non-income producing security.
(b)	Restricted and illiquid securities not registered under the Securities Act of 1933 are as follows:

	Acquisition Date	Current Cost		Fair Value		% of Net Assets
Calvert Social Investment Foundation, Inc.  2.000%, 06/15/22	06/17/19	$	550,000	$	557,298		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 06/15/23	06/18/18		900,000		934,722		0.3	%
Calvert Social Investment Foundation, Inc.  3.000%, 12/15/23	12/17/18		200,000		208,976		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 06/17/24	06/17/19		550,000		564,135		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 12/13/24	12/12/19		150,000		154,173		0.0	%(d)
Calvert Social Investment Foundation, Inc.  2.500%, 06/13/25	06/12/20		670,000		670,000		0.2	%
		$	3,020,000	$	3,089,304		0.8	%

(c)	The rate shown is the 7-day effective yield as of September 30, 2020.
(d)	Percentage rounds to less than 0.1%.

plc - Public Liability Company

Schedule of Portfolio Investments
Praxis Small Cap Index Fund
September 30, 2020 (Unaudited)
COMMON STOCKS - 98.4%	Shares		Fair Value
ADVERTISING & MARKETING - 0.1%
QuinStreet, Inc. (a)	7,790	$	123,394
AEROSPACE & DEFENSE - 0.3%
Barnes Group, Inc.	5,820		208,007
Park Aerospace Corp. (a)	10,790		117,827
			325,834
APPAREL & TEXTILE PRODUCTS - 1.7%
Capri Holdings Ltd. (a)	22,770		409,860
Crocs, Inc. (a)	11,550		493,532
Fossil Group, Inc. (a)	28,770		165,140
Kontoor Brands, Inc.	5,060		122,452
Movado Group, Inc.	11,930		118,584
Oxford Industries, Inc.	3,465		139,847
Steven Madden Ltd.	11,935		232,732
Wolverine World Wide, Inc.	13,500		348,840
			2,030,987
ASSET MANAGEMENT - 0.7%
Blucora, Inc. (a)	13,850		130,467
Boston Private Financial Holdings, Inc.	25,630		141,478
Brightsphere Investment Group, Inc.	7,030		90,687
Virtus Investment Partners, Inc.	920		127,558
Waddell & Reed Financial, Inc. - Class A	10,140		150,579
WisdomTree Investments, Inc.	49,990		159,968
			800,737
AUTOMOTIVE - 1.2%
American Axle & Manufacturing Holdings, Inc. (a)	24,060		138,826
Cooper Tire & Rubber Co.	6,440		204,148
Dorman Products, Inc. (a)	5,550		501,609
Gentherm, Inc. (a)	4,820		197,138
Methode Electronics, Inc.	8,170		232,845
Standard Motor Products, Inc.	3,290		146,899
			1,421,465
BANKING - 8.1%
Allegiance Bancshares, Inc.	3,770		88,105
Ameris Bancorp	10,274		234,042
Axos Financial, Inc. (a)	8,590		200,233
Banc of California, Inc.	10,340		104,641

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.4% (Continued)	Shares		Fair Value
BANKING - 8.1% (Continued)
Banner Corp.		6,070	$	195,818
Berkshire Hills Bancorp, Inc.		14,650		148,112
Brookline Bancorp, Inc.		12,520		108,235
Cadence BanCorp.		22,220		190,870
Central Pacific Financial Corp.		11,560		156,869
City Holding Co.		2,910		167,645
Columbia Banking System, Inc.		10,590		252,572
Community Bank System, Inc.		10,650		579,999
Customers Bancorp, Inc. (a)		6,950		77,840
CVB Financial Corp.		22,880		380,494
Dime Community Bancshares, Inc.		7,730		87,426
Eagle Bancorp, Inc.		5,790		155,114
FB Financial Corp.		3,776		94,853
First BanCorp.		38,970		203,423
First Commonwealth Financial Corp.		17,510		135,527
First Financial Bancorp		15,720		188,719
First Hawaiian, Inc.		10,410		150,633
First Midwest Bancorp, Inc.		18,900		203,742
Flagstar Bancorp, Inc.		6,160		182,521
Great Western Bancorp, Inc.		11,480		142,926
Hanmi Financial Corp.		16,730		137,353
Heritage Financial Corp.		6,310		116,041
HomeStreet, Inc.		5,810		149,666
Hope Bancorp, Inc.		22,210		168,463
Independent Bank Corp.		5,580		292,280
Independent Bank Group, Inc.		4,980		220,016
Meta Financial Group, Inc.		6,750		129,735
National Bank Holdings Corp. - Class A		3,270		85,838
NBT Bancorp, Inc.		7,000		187,740
Northwest Bancshares, Inc.		23,090		212,428
OFG Bancorp		7,240		90,210
Old National Bancorp		37,700		473,512
Pacific Premier Bancorp, Inc.		15,026		302,624
Park National Corp.		2,050		168,018
Preferred Bank		2,910		93,469
Provident Financial Services, Inc.		9,430		115,046
S&T Bancorp, Inc.		5,970		105,609
Seacoast Banking Corp. of Florida (a)		8,510		153,435

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.4% (Continued)	Shares		Fair Value
BANKING - 8.1% (Continued)
ServisFirst Bancshares, Inc.		10,670	$	363,100
Simmons First National Corp. - Class A		19,010		301,404
Southside Bancshares, Inc.		4,987		121,832
Tompkins Financial Corp.		2,100		119,301
Triumph Bancorp, Inc. (a)		5,040		156,946
TrustCo Bank Corp.		23,830		124,393
United Community Banks, Inc.		12,060		204,176
Veritex Holdings, Inc.		13,050		222,241
Westamerica Bancorp.		6,020		327,187
				9,572,422
BEVERAGES - 0.5%
Coca-Cola Bottling Co. Consolidated, Inc.		830		199,764
National Beverage Corp. (a)		5,760		391,738
				591,502
BIOTECH & PHARMA - 2.7%
AMAG Pharmaceuticals, Inc. (a)		17,250		162,150
Coherus Biosciences, Inc. (a)		11,690		214,395
Cytokinetics, Inc. (a)		14,910		322,802
Eagle Pharmaceuticals, Inc. (a)		3,150		133,812
Enanta Pharmaceuticals, Inc. (a)		4,780		218,828
Heska Corp. (a)		2,880		284,515
Innoviva, Inc. (a)		11,970		125,086
Momenta Pharmaceuticals, Inc. (a)		21,670		1,137,242
Pacira BioSciences, Inc. (a)		1,580		94,990
REGENXBIO, Inc. (a)		5,140		141,453
Supernus Pharmaceuticals, Inc. (a)		10,380		216,319
Vanda Pharmaceuticals, Inc. (a)		10,890		105,197
				3,156,789
CHEMICALS - 3.4%
Balchem Corp.		6,510		635,571
FutureFuel Corp.		11,220		127,571
GCP Applied Technologies, Inc. (a)		6,470		135,546
H.B. Fuller Co.		10,240		468,787
Innospec, Inc.		5,910		374,221
Lydall, Inc. (a)		10,490		173,505
Quaker Chemical Corp.		2,730		490,608
Rogers Corp. (a)		3,610		353,997
Stepan Co.		3,960		431,640

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.4% (Continued)	Shares		Fair Value
CHEMICALS - 3.4% (Continued)
Trinseo S.A.		7,990	$	204,864
WD-40 Co.		3,260		617,151
				4,013,461
COMMERCIAL SUPPORT SERVICES - 3.7%
ABM Industries, Inc.		13,350		489,411
AMN Healthcare Services, Inc. (a)		10,790		630,784
Brady Corp. - Class A		17,110		684,742
CorVel Corp. (a)		3,800		324,634
Harsco Corp. (a)		14,500		201,695
Heidrick & Struggles International, Inc.		6,300		123,795
HMS Holdings Corp. (a)		17,620		421,999
Kelly Services, Inc. - Class A		6,880		117,235
Korn Ferry		12,990		376,710
TrueBlue, Inc. (a)		7,400		114,626
UniFirst Corp.		3,970		751,799
US Ecology, Inc.		5,630		183,932
				4,421,362
CONSTRUCTION MATERIALS - 0.7%
Apogee Enterprises, Inc.		4,720		100,866
Simpson Manufacturing Co., Inc.		7,730		751,047
				851,913
CONSUMER SERVICES - 0.8%
American Public Education, Inc. (a)		5,580		157,300
Matthews International Corp. - Class A		5,810		129,912
Medifast, Inc.		2,310		379,879
Perdoceo Education Corp. (a)		16,740		204,898
Regis Corp. (a)		18,070		110,950
				982,939
CONTAINERS & PACKAGING - 0.1%
Myers Industries, Inc.		10,200		134,946
E-COMMERCE DISCRETIONARY - 0.2%
PetMed Express, Inc.		8,210		259,600
ELECTRIC UTILITIES - 0.3%
Avista Corp.		10,420		355,530

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.4% (Continued)	Shares		Fair Value
ELECTRICAL EQUIPMENT - 4.4%
AAON, Inc.		9,750	$	587,438
Advanced Energy Industries, Inc. (a)		6,290		395,893
Alarm.com Holdings, Inc. (a)		7,330		404,982
Badger Meter, Inc.		12,970		847,849
FARO Technologies, Inc. (a)		7,110		433,568
Itron, Inc. (a)		11,940		725,236
Mesa Laboratories, Inc.		2,270		578,305
OSI Systems, Inc. (a)		2,550		197,905
SPX Corp. (a)		7,870		365,011
Watts Water Technologies, Inc. - Class A		7,090		710,063
				5,246,250
ENGINEERING & CONSTRUCTION - 1.5%
Aegion Corp. (a)		7,920		111,910
Arcosa, Inc.		5,970		263,217
Comfort Systems USA, Inc.		7,610		391,991
Exponent, Inc.		8,210		591,366
Granite Construction, Inc.		7,530		132,603
Installed Building Products, Inc. (a)		3,410		346,968
				1,838,055
FOOD - 0.5%
B&G Foods, Inc.		13,360		371,007
USANA Health Sciences, Inc. (a)		2,410		177,497
				548,504
FORESTRY, PAPER & WOOD PRODUCTS - 1.3%
Boise Cascade Co.		8,960		357,683
Neenah, Inc.		6,890		258,169
P.H. Glatfelter Co.		11,660		160,558
UFP Industries, Inc.		13,990		790,575
				1,566,985
GAS & WATER UTILITIES - 1.5%
American States Water Co.		9,370		702,281
California Water Service Group		9,950		432,328
South Jersey Industries, Inc.		31,420		605,463
				1,740,072
HEALTH CARE FACILITIES & SERVICES - 3.5%
Addus HomeCare Corp. (a)		2,750		259,902
Community Health Systems, Inc. (a)		23,600		99,592
Covetrus, Inc. (a)		18,340		447,496

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.4% (Continued)	Shares		Fair Value
HEALTH CARE FACILITIES & SERVICES - 3.5% (Continued)
Ensign Group, Inc. (The)		9,660	$	551,200
Hanger, Inc. (a)		9,980		157,884
Magellan Health, Inc. (a)		5,580		422,852
NeoGenomics, Inc. (a)		22,200		818,958
Owens & Minor, Inc.		12,020		301,822
Pennant Group, Inc. (The) (a)		4,650		179,304
RadNet, Inc. (a)		11,320		173,762
Select Medical Holdings Corp. (a)		24,600		512,172
U.S. Physical Therapy, Inc.		3,070		266,722
				4,191,666
HOME & OFFICE PRODUCTS - 0.6%
iRobot Corp. (a)		4,940		374,946
Tupperware Brands Corp. (a)		15,370		309,859
				684,805
HOME CONSTRUCTION - 2.9%
American Woodmark Corp. (a)		2,505		196,743
Cavco Industries, Inc. (a)		1,410		254,237
Century Communities, Inc. (a)		2,590		109,635
Interface, Inc.		96,290		589,295
LGI Homes, Inc. (a)		3,980		462,357
M/I Homes, Inc. (a)		3,510		161,635
MDC Holdings, Inc.		9,774		460,355
Meritage Homes Corp. (a)		6,660		735,197
Patrick Industries, Inc.		4,460		256,539
PGT Innovations, Inc. (a)		9,950		174,324
				3,400,317
HOUSEHOLD PRODUCTS - 0.7%
Central Garden & Pet Co. - Class A (a)		8,930		322,730
Clearwater Paper Corp. (a)		2,850		108,129
Inter Parfums, Inc.		5,930		221,486
Quanex Building Products Corp.		11,930		219,989
				872,334
INDUSTRIAL INTERMEDIATE PRODUCTS - 2.3%
AZZ, Inc.		7,130		243,276
Chart Industries, Inc. (a)		6,330		444,809
EnPro Industries, Inc.		5,550		313,075
Gibraltar Industries, Inc. (a)		10,440		680,062

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.4% (Continued)	Shares		Fair Value
INDUSTRIAL INTERMEDIATE PRODUCTS - 2.3% (Continued)
Insteel Industries, Inc.		5,610	$	104,907
Proto Labs, Inc. (a)		4,900		634,550
Raven Industries, Inc.		9,680		208,313
Standex International Corp.		2,030		120,176
				2,749,168
INDUSTRIAL SUPPORT SERVICES - 0.7%
Applied Industrial Technologies, Inc.		8,380		461,738
DXP Enterprises, Inc. (a)		5,460		88,070
Resideo Technologies, Inc. (a)		20,870		229,570
				779,378
INSTITUTIONAL FINANCIAL SERVICES - 0.5%
Greenhill & Co., Inc.		6,880		78,088
Piper Sandler Cos.		3,730		272,290
StoneX Group, Inc. (a)		4,090		209,244
				559,622
INSURANCE - 3.4%
Ambac Financial Group, Inc. (a)		8,260		105,480
American Equity Investment Life Holding Co.		18,710		411,433
Amerisafe, Inc.		3,030		173,801
eHealth, Inc. (a)		4,420		349,180
Employers Holdings, Inc.		9,010		272,552
Horace Mann Educators Corp.		7,880		263,192
James River Group Holdings Ltd.		6,160		274,305
Kinsale Capital Group, Inc.		3,400		646,612
NMI Holdings, Inc. - Class A (a)		14,580		259,524
Palomar Holdings, Inc. (a)		3,150		328,356
ProAssurance Corp.		9,820		153,585
Safety Insurance Group, Inc.		3,290		227,306
Trupanion, Inc. (a)		4,810		379,509
United Fire Group, Inc.		4,530		92,049
Universal Insurance Holdings, Inc.		8,320		115,149
				4,052,033
INTERNET MEDIA & SERVICES - 1.0%
HealthStream, Inc. (a)		5,690		114,198
Shutterstock, Inc.		4,940		257,078
Stamps.com, Inc. (a)		2,760		665,022

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.4% (Continued)	Shares		Fair Value
INTERNET MEDIA & SERVICES - 1.0% (Continued)
TechTarget, Inc. (a)		2,580	$	113,417
				1,149,715
LEISURE FACILITIES & SERVICES - 1.3%
Bloomin' Brands, Inc.		12,830		195,914
Brinker International, Inc.		5,280		225,562
Cheesecake Factory, Inc. (The)		3,850		106,799
Chuy's Holdings, Inc. (a)		6,790		132,948
Dave & Buster's Entertainment, Inc.		11,830		179,343
Dine Brands Global, Inc.		1,590		86,798
Red Robin Gourmet Burgers, Inc. (a)		14,540		191,347
Shake Shack, Inc. - Class A (a)		5,830		375,918
				1,494,629
LEISURE PRODUCTS - 1.3%
Callaway Golf Co.		14,230		272,362
LCI Industries		4,750		504,878
Winnebago Industries, Inc.		3,720		192,212
YETI Holdings, Inc. (a)		12,240		554,717
				1,524,169
MACHINERY - 3.4%
Alamo Group, Inc.		1,800		194,454
Astec Industries, Inc.		4,300		233,275
Enerpac Tool Group Corp.		7,300		137,313
ESCO Technologies, Inc.		3,760		302,906
Federal Signal Corp.		13,370		391,072
Franklin Electric Co., Inc.		7,820		460,051
Hillenbrand, Inc.		20,530		582,231
Ichor Holdings Ltd. (a)		4,880		105,262
John Bean Technologies Corp.		6,135		563,745
Lindsay Corp.		2,190		211,729
MTS Systems Corp.		14,060		268,687
SPX FLOW, Inc. (a)		7,180		307,447
Tennant Co.		3,800		229,368
				3,987,540
MEDICAL EQUIPMENT & DEVICES - 3.3%
Cardiovascular Systems, Inc. (a)		8,070		317,554
Glaukos Corp. (a)		8,640		427,853
Integer Holdings Corp. (a)		4,160		245,482

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.4% (Continued)	Shares		Fair Value
MEDICAL EQUIPMENT & DEVICES - 3.3% (Continued)
Lantheus Holdings, Inc. (a)		10,653	$	134,974
LeMaitre Vascular, Inc.		5,160		167,855
Luminex Corp.		13,610		357,262
Meridian Bioscience, Inc. (a)		12,960		220,061
Merit Medical Systems, Inc. (a)		11,920		518,520
Myriad Genetics, Inc. (a)		13,280		173,171
Neogen Corp. (a)		10,353		810,122
OraSure Technologies, Inc. (a)		14,440		175,735
Tactile Systems Technology, Inc. (a)		3,830		140,140
Varex Imaging Corp. (a)		8,210		104,431
Zynex, Inc. (a)		5,560		97,022
				3,890,182
METALS & MINING - 1.0%
Arconic Corp. (a)		19,090		363,664
Century Aluminum Co. (a)		10,980		78,178
Cleveland-Cliffs, Inc.		76,790		492,992
Encore Wire Corp.		5,520		256,238
				1,191,072
OIL & GAS PRODUCERS - 0.1%
Laredo Petroleum, Inc. (a)		13,610		133,378
OIL & GAS SERVICES & EQUIPMENT - 1.5%
Core Laboratories N.V.		39,360		600,634
DMC Global, Inc.		6,340		208,840
Geospace Technologies Corp. (a)		51,310		317,096
Matrix Service Co. (a)		29,780		248,663
Nabors Industries Ltd.		5,721		139,821
Newpark Resources, Inc. (a)		188,870		198,313
NOW, Inc. (a)		16,360		74,274
				1,787,641
PUBLISHING & BROADCASTING - 0.3%
E.W. Scripps Co. (The) - Class A		9,180		105,019
Gannett Co., Inc.		68,457		88,994
Scholastic Corp.		8,410		176,526
				370,539
REAL ESTATE SERVICES - 1.0%
Marcus & Millichap, Inc. (a)		9,260		254,835

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.4% (Continued)	Shares		Fair Value
REAL ESTATE SERVICES - 1.0% (Continued)
RE/MAX Holdings, Inc. - Class A		8,960	$	293,261
Realogy Holdings Corp. (a)		48,290		455,858
Retail Properties of America, Inc. - Class A		30,650		178,076
				1,182,030
REITS - 8.0%
Acadia Realty Trust		17,540		184,170
Agree Realty Corp.		9,270		589,943
Alexander & Baldwin, Inc.		14,570		163,330
American Assets Trust, Inc.		6,220		149,840
Armada Hoffler Properties, Inc.		17,570		162,698
ARMOUR Residential REIT, Inc.		16,350		155,488
Brandywine Realty Trust		38,600		399,124
CareTrust REIT, Inc.		16,990		302,337
Chatham Lodging Trust		22,880		174,346
Community Healthcare Trust, Inc.		5,180		242,217
DiamondRock Hospitality Co.		41,780		211,825
Diversified Healthcare Trust		40,550		142,736
Easterly Government Properties, Inc.		20,360		456,268
Essential Properties Realty Trust, Inc.		14,970		274,250
Four Corners Property Trust, Inc.		9,270		237,219
Franklin Street Properties Corp.		32,340		118,364
Getty Realty Corp.		3,980		103,520
Global Net Lease, Inc. (a)		16,180		257,262
Hersha Hospitality Trust		40,330		223,428
Independence Realty Trust, Inc.		16,080		186,367
Industrial Logistics Properties Trust		5,000		109,350
Innovative Industrial Properties, Inc.		3,480		431,903
Investors Real Estate Trust		1,420		92,541
iStar, Inc.		14,210		167,820
Kite Realty Group Trust		10,900		126,222
Lexington Realty Trust		54,310		567,539
LTC Properties, Inc.		7,200		250,992
Matson, Inc.		8,190		328,337
National Storage Affiliates Trust		10,520		344,109
Office Properties Income Trust		8,140		168,661
Retail Opportunity Investments Corp.		14,670		152,788
RPT Realty		28,780		156,563
Safehold, Inc.		3,430		213,003

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.4% (Continued)	Shares		Fair Value
REITS - 8.0% (Continued)
Saul Centers, Inc.		6,620	$	175,960
SITE Centers Corp.		26,930		193,896
Summit Hotel Properties, Inc.		24,240		125,563
Tanger Factory Outlet Centers, Inc.		16,520		99,616
Uniti Group, Inc.		35,680		375,889
Universal Health Realty Income Trust		1,650		94,033
Washington Real Estate Investment Trust		15,790		317,853
Xenia Hotel & Resorts, Inc.		23,860		209,491
				9,436,861
RETAIL - CONSUMER STAPLES - 0.6%
Big Lots, Inc.		7,800		347,880
PriceSmart, Inc.		1,340		89,043
SpartanNash Co.		17,520		286,452
				723,375
RETAIL - DISCRETIONARY - 4.7%
Abercrombie & Fitch Co. - Class A		13,550		188,752
Asbury Automotive Group, Inc. (a)		3,100		302,095
Bed Bath & Beyond, Inc.		11,190		167,626
Boot Barn Holdings, Inc. (a)		4,560		128,318
Buckle, Inc. (The)		5,380		109,698
Caleres, Inc.		16,560		158,314
Chico's FAS, Inc.		82,620		80,348
Children's Place, Inc. (The)		8,690		246,362
Designer Brands, Inc. - Class A		22,480		122,066
Ethan Allen Interiors, Inc.		16,450		222,733
GameStop Corp. - Class A (a)		30,410		310,182
Genesco, Inc. (a)		8,480		182,659
GMS, Inc. (a)		7,050		169,905
Group 1 Automotive, Inc.		3,050		269,589
Guess?, Inc.		9,260		107,601
Hibbett Sports, Inc. (a)		9,960		390,631
La-Z-Boy, Inc.		6,970		220,461
Lumber Liquidators Holdings, Inc. (a)		11,530		254,237
Macy's, Inc.		66,210		377,397
MarineMax, Inc. (a)		3,780		97,033
Michaels Cos., Inc. (The) (a)		13,040		125,901
Monro, Inc.		6,250		253,562
ODP Corp. (The)		7,677		149,318

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.4% (Continued)	Shares		Fair Value
RETAIL - DISCRETIONARY - 4.7% (Continued)
Signet Jewelers Ltd.		17,690	$	330,803
Sleep Number Corp. (a)		5,300		259,223
Sonic Automotive, Inc. - Class A		4,410		177,106
Zumiez, Inc. (a)		6,910		192,236
				5,594,156
SEMICONDUCTORS - 3.1%
Axcelis Technologies, Inc. (a)		7,890		173,580
Brooks Automation, Inc.		14,200		656,892
CEVA, Inc. (a)		4,260		167,716
Cohu, Inc.		7,270		124,899
CTS Corp.		6,010		132,400
Diodes, Inc. (a)		6,230		351,684
FormFactor, Inc. (a)		13,950		347,774
Kulicke & Soffa Industries, Inc.		9,850		220,640
MaxLinear, Inc. (a)		8,600		199,864
Onto Innovation, Inc. (a)		10,847		323,024
Photronics, Inc. (a)		16,690		166,232
Power Integrations, Inc.		8,720		483,088
Rambus, Inc. (a)		13,445		184,062
Ultra Clean Holdings, Inc. (a)		5,050		108,373
Veeco Instruments, Inc. (a)		8,620		100,595
				3,740,823
SOFTWARE - 3.4%
Agilysys, Inc. (a)		6,190		149,550
Allscripts Healthcare Solutions, Inc. (a)		16,430		133,740
Bottomline Technologies (de), Inc. (a)		8,780		370,165
Donnelley Financial Solutions, Inc. (a)		10,660		142,418
Ebix, Inc.		7,800		160,680
Glu Mobile, Inc. (a)		22,080		169,464
LivePerson, Inc. (a)		9,500		493,905
MicroStrategy, Inc. - Class A (a)		1,390		209,279
NextGen Healthcare, Inc. (a)		9,550		121,667
Omnicell, Inc. (a)		8,040		600,266
OneSpan, Inc. (a)		4,520		94,739
PDF Solutions, Inc. (a)		9,190		171,945
Progress Software Corp.		6,410		235,119
Simulations Plus, Inc.		2,170		163,531
SPS Commerce, Inc. (a)		5,620		437,630

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.4% (Continued)	Shares		Fair Value
SOFTWARE - 3.4% (Continued)
Tabula Rasa HealthCare, Inc. (a)		4,720	$	192,434
Xperi Holding Corp.		18,531		212,921
				4,059,453
SPECIALTY FINANCE - 2.2%
Apollo Commercial Real Estate Finance, Inc.		22,000		198,220
Capstead Mortgage Corp.		27,500		154,550
Deluxe Corp.		8,680		223,336
Encore Capital Group, Inc. (a)		4,100		158,219
Enova International, Inc. (a)		7,260		118,992
Granite Point Mortgage Trust		24,170		171,365
Invesco Mortgage Capital, Inc.		43,621		118,213
KKR Real Estate Finance Trust, Inc.		6,670		110,255
Mr. Cooper Group, Inc. (a)		6,240		139,277
New York Mortgage Trust, Inc.		75,880		193,494
PennyMac Mortgage Investment Trust		15,630		251,174
PRA Group, Inc. (a)		6,920		276,454
Redwood Trust, Inc.		19,810		148,971
Stewart Information Services Corp.		3,830		167,486
Walker & Dunlop, Inc.		4,340		230,020
				2,660,026
TECHNOLOGY HARDWARE - 3.4%
3D Systems Corp. (a)		23,680		116,269
ADTRAN, Inc.		14,390		147,569
Benchmark Electronics, Inc.		8,020		161,603
CalAmp Corp. (a)		20,810		149,624
Daktronics, Inc.		21,060		83,398
Fabrinet (a)		7,070		445,622
Harmonic, Inc. (a)		31,980		178,448
Knowles Corp. (a)		18,120		269,988
NETGEAR, Inc. (a)		4,710		145,162
Pitney Bowes, Inc.		141,320		750,409
Plantronics, Inc.		8,330		98,627
Plexus Corp. (a)		4,900		346,087
Sanmina Corp. (a)		13,090		354,085
TTM Technologies, Inc. (a)		16,420		187,352
Universal Electronics, Inc. (a)		2,770		104,540
Viavi Solutions, Inc. (a)		37,780		443,159

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.4% (Continued)	Shares		Fair Value
TECHNOLOGY HARDWARE - 3.4% (Continued)
Vicor Corp. (a)		1,150	$	89,390
				4,071,332
TECHNOLOGY SERVICES - 3.4%
Cardtronics plc - Class A (a)		6,690		132,462
CSG Systems International, Inc.		13,810		565,520
EVERTEC, Inc.		10,810		375,215
ExlService Holdings, Inc. (a)		5,430		358,217
Green Dot Corp. - Class A (a)		7,600		384,636
Insight Enterprises, Inc. (a)		13,130		742,895
NIC, Inc.		11,920		234,824
Perficient, Inc. (a)		7,030		300,462
Sykes Enterprises, Inc. (a)		8,000		273,680
TTEC Holdings, Inc.		5,360		292,388
Unisys Corp. (a)		10,560		112,675
Virtusa Corp. (a)		4,690		230,561
				4,003,535
TELECOMMUNICATIONS - 2.1%
8x8, Inc. (a)		19,530		303,691
ATN International, Inc.		3,340		167,468
Cincinnati Bell, Inc. (a)		7,720		115,800
Cogent Communications Holdings, Inc.		7,110		426,955
Consolidated Communications Holdings, Inc. (a)		29,970		170,529
Iridium Communications, Inc. (a)		16,070		411,071
Shenandoah Telecommunications Co.		7,650		339,928
Spok Holdings, Inc.		14,760		140,368
Vonage Holdings Corp. (a)		39,210		401,118
				2,476,928
TRANSPORTATION & LOGISTICS - 2.5%
Allegiant Travel Co.		1,900		227,620
ArcBest Corp.		4,550		141,323
Atlas Air Worldwide Holdings, Inc. (a)		4,200		255,780
Bristow Group, Inc. (a)		8,623		183,239
Echo Global Logistics, Inc. (a)		6,670		171,886
Forward Air Corp.		6,040		346,575
Hawaiian Holdings, Inc.		10,110		130,318
Heartland Express, Inc.		14,760		274,536
Hub Group, Inc. - Class A (a)		5,380		270,049
Marten Transport Ltd.		12,750		208,080

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.4% (Continued)	Shares		Fair Value
TRANSPORTATION & LOGISTICS - 2.5% (Continued)
Saia, Inc. (a)		4,740	$	597,903
SEACOR Holdings, Inc. (a)		3,470		100,908
SkyWest, Inc.		2,870		85,698
				2,993,915
TRANSPORTATION EQUIPMENT - 0.4%
Greenbrier Cos., Inc. (The)		6,020		176,988
Meritor, Inc. (a)		12,840		268,870
				445,858
WHOLESALE - CONSUMER STAPLES - 1.1%
Andersons, Inc. (The)		29,050		556,888
Calavo Growers, Inc.		3,610		239,235
Chefs' Warehouse, Inc. (The) (a)		19,440		282,658
United Natural Foods, Inc. (a)		18,350		272,864
				1,351,645
WHOLESALE - DISCRETIONARY - 1.0%
ePlus, Inc. (a)		2,280		166,896
G-III Apparel Group Ltd. (a)		12,730		166,890
PC Connection, Inc.		2,570		105,524
ScanSource, Inc. (a)		32,270		639,914
Veritiv Corp. (a)		10,010		126,727
				1,205,951
TOTAL COMMON STOCKS (COST $115,592,555)			$	116,746,823
RIGHTS - 0.0% (b)		Shares		Fair Value
MEDICAL EQUIPMENT & DEVICES - 0.0% (b)
Lantheus Holdings, Inc., CVR (a)(c) (Cost $0)		28,980	$	2,608

CORPORATE NOTES - 0.9%	Coupon			Maturity		Principal Amount		Fair Value
COMMUNITY DEVELOPMENT - 0.9%
Calvert Social Investment Foundation, Inc. (d)		2.000	%		06/15/22	$	70,000	$	70,929
Calvert Social Investment Foundation, Inc. (d)		3.000	%		06/15/23		330,000		342,731
Calvert Social Investment Foundation, Inc. (d)		3.000	%		12/15/23		330,000		344,811
Calvert Social Investment Foundation, Inc. (d)		3.000	%		06/17/24		60,000		61,542

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
CORPORATE NOTES - 0.9% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
COMMUNITY DEVELOPMENT - 0.9% (Continued)
Calvert Social Investment Foundation, Inc. (d)		3.000	%		12/13/24	$	90,000	$	92,504
Calvert Social Investment Foundation, Inc. (d)		2.500	%		06/13/25		150,000		150,000
TOTAL CORPORATE NOTES (COST $1,030,000)								$	1,062,517

MONEY MARKET FUNDS - 0.5%	Shares		Fair Value
First American Government Obligations Fund - Class X, 0.07% (e) (COST $551,192)		551,192	$	551,192
TOTAL INVESTMENTS - (COST $117,173,747) - 99.8%			$	118,363,140
OTHER ASSETS IN EXCESS OF LIABILITIES - 0.2%				250,814
NET ASSETS - 100.0%			$	118,613,954

(a)	Non-income producing security.
(b)	Percentage rounds to less than 0.1%.
(c)	Security value has been determined in good faith pursuant to procedures adopted by the Board of Trustees. The total value of such securities is $2,608 as of September 30, 2020, representing 0.0% (b) of net assets.
(d)	Restricted and illiquid securities not registered under the Securities Act of 1933 are as follows:

	Acquisition Date	Current Cost		Fair Value		% of Net Assets
Calvert Social Investment Foundation, Inc.  2.000%, 06/15/22	06/17/19	$	70,000	$	70,929		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 06/15/23	06/18/18		330,000		342,731		0.3	%
Calvert Social Investment Foundation, Inc.  3.000%, 12/15/23	12/17/18		330,000		344,811		0.3	%
Calvert Social Investment Foundation, Inc.  3.000%, 06/17/24	06/17/19		60,000		61,542		0.0	%(b)
Calvert Social Investment Foundation, Inc.  3.000%, 12/13/24	12/12/19		90,000		92,504		0.1	%
Calvert Social Investment Foundation, Inc.  2.500%, 06/13/25	06/12/20		150,000		150,000		0.1	%
		$	1,030,000	$	1,062,517		0.9	%

^(e) The rate shown is the 7-day effective yield as of September 30, 2020.

CVR - Contingent Value Right

plc - Public Liability Company

REIT - Real Estate Investment Trust

Schedule of Portfolio Investments
Praxis Genesis Conservative Portfolio
September 30, 2020 (Unaudited)
AFFILIATED MUTUAL FUNDS - 100.0%	Shares		Fair Value
DEBT FUND - 70.2%
Praxis Impact Bond Fund - Class I	1,697,828	$	18,998,692
EQUITY FUND - 29.8%
Praxis Growth Index Fund - Class I	74,903		2,489,039
Praxis International Index Fund - Class I	216,983		2,421,525
Praxis Small Cap Index Fund - Class I	80,514		661,019
Praxis Value Index Fund - Class I	180,701		2,477,405
			8,048,988
TOTAL AFFILIATED MUTUAL FUNDS (COST $22,498,685)		$	27,047,680

MONEY MARKET FUNDS - 0.0% (a)	Shares		Fair Value
First American Government Obligations Fund - Class X, 0.07% (b) (COST $5,966)		5,966	$	5,966
TOTAL INVESTMENTS - (COST $22,504,651) - 100.0%			$	27,053,646
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.0%) (a)				(11,956	)
NET ASSETS - 100.0%			$	27,041,690

(a)	Percentage rounds to less than 0.1%.
(b)	The rate shown is the 7-day effective yield as of September 30, 2020.

Schedule of Portfolio Investments
Praxis Genesis Balanced Portfolio
September 30, 2020 (Unaudited)
AFFILIATED MUTUAL FUNDS - 100.1%	Shares		Fair Value
DEBT FUND - 40.3%
Praxis Impact Bond Fund - Class I	2,957,535	$	33,094,819
EQUITY FUND - 59.8%
Praxis Growth Index Fund - Class I	395,269		13,134,800
Praxis International Index Fund - Class I	1,322,164		14,755,348
Praxis Small Cap Index Fund - Class I	981,591		8,058,866
Praxis Value Index Fund - Class I	953,603		13,073,904
			49,022,918
TOTAL AFFILIATED MUTUAL FUNDS (COST $63,231,880)		$	82,117,737
MONEY MARKET FUNDS - 0.0% (a)	Shares		Fair Value
First American Government Obligations Fund - Class X, 0.07% (b) (COST $1,822)	1,822	$	1,822
TOTAL INVESTMENTS - (COST $63,233,702) - 100.1%		$	82,119,559
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1%)			(112,641	)
NET ASSETS - 100.0%		$	82,006,918

(a)	Percentage rounds to less than 0.1%.
(b)	The rate shown is the 7-day effective yield as of September 30, 2020.

Schedule of Portfolio Investments
Praxis Genesis Growth Portfolio
September 30, 2020 (Unaudited)
AFFILIATED MUTUAL FUNDS - 100.1%	Shares		Fair Value
DEBT FUND - 20.2%
Praxis Impact Bond Fund - Class I	1,386,341	$	15,513,152
EQUITY FUND - 79.9%
Praxis Growth Index Fund - Class I	474,918		15,781,529
Praxis International Index Fund - Class I	1,652,800		18,445,245
Praxis Small Cap Index Fund - Class I	1,380,560		11,334,400
Praxis Value Index Fund - Class I	1,145,741		15,708,108
			61,269,282
TOTAL AFFILIATED MUTUAL FUNDS (COST $57,055,007)		$	76,782,434
MONEY MARKET FUNDS - 0.0% (a)	Shares		Fair Value
First American Government Obligations Fund - Class X, 0.07% (b) (COST $2,009)	2,009	$	2,009
TOTAL INVESTMENTS - (COST $57,057,016) - 100.1%		$	76,784,443
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1%)			(44,034	)
NET ASSETS - 100.0%		$	76,740,409

(a)	Percentage rounds to less than 0.1%.
(b)	The rate shown is the 7-day effective yield as of September 30, 2020.