0001398344-20-023756.txt : 20201130 0001398344-20-023756.hdr.sgml : 20201130 20201130171917 ACCESSION NUMBER: 0001398344-20-023756 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20200930 FILED AS OF DATE: 20201130 PERIOD START: 20201231 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PAX WORLD FUNDS SERIES TRUST I CENTRAL INDEX KEY: 0000076721 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-02064 FILM NUMBER: 201358997 BUSINESS ADDRESS: STREET 1: 30 PENHALLOW STREET, SUITE 400 CITY: PORTSMOUTH STATE: NH ZIP: 03801-3852 BUSINESS PHONE: 800-767-1729 MAIL ADDRESS: STREET 1: 30 PENHALLOW STREET, SUITE 400 CITY: PORTSMOUTH STATE: NH ZIP: 03801-3852 FORMER COMPANY: FORMER CONFORMED NAME: PAX WORLD BALANCED FUND DATE OF NAME CHANGE: 20061113 FORMER COMPANY: FORMER CONFORMED NAME: PAX WORLD BALANCED FUND INC DATE OF NAME CHANGE: 20040624 FORMER COMPANY: FORMER CONFORMED NAME: PAX WORLD FUND INC DATE OF NAME CHANGE: 19920703 0000076721 S000044216 Pax MSCI EAFE ESG Leaders Index Fund C000137561 Institutional Class PXNIX C000137562 Investor Class PXINX NPORT-P 1 primary_doc.xml NPORT-P false 0000076721 XXXXXXXX S000044216 C000137561 C000137562 PAX WORLD FUNDS SERIES TRUST I 811-02064 0000076721 549300TD5R23SWU72456 30 Penhallow St. Suite 400 Portsmouth 03801 800-767-1729 Pax MSCI EAFE ESG Leaders Index Fund S000044216 5493001G1B6NH621FW86 2020-12-31 2020-09-30 N 599354806.39 1367443.79 597987362.6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 UST BOLIDEN AB N/A COMMON STOCK SEK2.11 ACI1BX9N9 43112 NS 1279160.36 0.2139109352 Long EC CORP SE N 2 N N N FAST RETAILING CO LTD N/A COMMON STOCK 633243902 6000 NS 3770526.68 0.6305361812 Long EC CORP JP N 2 N N N LENDLEASE GROUP N/A STAPLED SECURITY 651200008 62129 NS 496315.33 0.0829976286 Long EC CORP AU N 2 N N N ANA HOLDINGS INC N/A COMMON STOCK 601490006 42600 NS 985361.01 0.1647795709 Long EC CORP JP N 2 N N N MITSUBISHI ESTATE CO LTD N/A COMMON STOCK 659672000 129000 NS 1954041.39 0.3267696798 Long EC CORP JP N 2 N N N NGK INSULATORS LTD N/A COMMON STOCK 661950006 75800 NS 1082306.08 0.1809914636 Long EC CORP JP N 2 N N N RAKUTEN INC N/A COMMON STOCK 622959906 84600 NS 912238.77 0.1525515131 Long EC CORP JP N 2 N N N ASML HOLDING NV N/A COMMON STOCK EUR.09 ACI02GTQ9 42588 NS 15730851.32 2.6306327364 Long EC CORP NL N 2 N N N SIEMENS AG REG N/A COMMON STOCK NPV 572797900 76518 NS 9663379.33 1.615983871 Long EC CORP DE N 2 N N N WPP PLC N/A COMMON STOCK GBP.1 B8KF9B904 103087 NS 809639.53 0.135394087 Long EC CORP GB N 2 N N N TAKEDA PHARMACEUTICAL CO LTD N/A COMMON STOCK 687044008 138400 NS 4946820.94 0.8272450639 Long EC CORP JP N 2 N N N JARDINE CYCLE + CARRIAGE LTD N/A COMMON STOCK 624226007 57700 NS 765886.91 0.1280774407 Long EC CORP SG N 2 N N N ASSA ABLOY AB B N/A COMMON STOCK SEK1.0 ACI0CQYQ0 80772 NS 1888458.72 0.3158024464 Long EC CORP SE N 2 N N N FUJITSU LTD N/A COMMON STOCK 635694003 18300 NS 2500101.72 0.418086046 Long EC CORP JP N 2 N N N SPIRAX SARCO ENGINEERING PLC N/A COMMON STOCK GBP.269231 BWFGQN900 7320 NS 1042379.98 0.1743147172 Long EC CORP GB N 2 N N N HANG SENG BANK LTD N/A COMMON STOCK 640837001 99900 NS 1479996.6 0.2474963005 Long EC CORP HK N 2 N N N TORAY INDUSTRIES INC N/A COMMON STOCK 689714004 176900 NS 809318.01 0.13534032 Long EC CORP JP N 2 N N N RED ELECTRICA CORPORACION SA N/A COMMON STOCK EUR.5 BD6FXN906 34092 NS 639407.02 0.1069265105 Long EC CORP ES N 2 N N N KEYENCE CORP N/A COMMON STOCK 649099009 17900 NS 8367875.37 1.3993398345 Long EC CORP JP N 2 N N N NATIONAL AUSTRALIA BANK LTD N/A COMMON STOCK 662460005 303611 NS 3900471.3 0.65226651 Long EC CORP AU N 2 N N N HONDA MOTOR CO LTD N/A COMMON STOCK 643514003 121200 NS 2878168.54 0.4813092584 Long EC CORP JP N 2 N N N AKZO NOBEL N.V. 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CHF1.0 B142S6906 9040 NS 1755326.67 0.2935390913 Long EC CORP CH N 2 N N N DAIFUKU CO LTD N/A COMMON STOCK 625002001 9900 NS 999280.29 0.1671072589 Long EC CORP JP N 2 N N N COLES GROUP LTD N/A COMMON STOCK BYWR0T908 94287 NS 1148675.93 0.1920903353 Long EC CORP AU N 2 N N N HONG KONG + CHINA GAS N/A COMMON STOCK 643655004 677430 NS 983654.18 0.1644941418 Long EC CORP HK N 2 N N N KBC GROUP NV N/A COMMON STOCK 449774009 14792 NS 741760.33 0.1240428103 Long EC CORP BE N 2 N N N ABB LTD REG N/A COMMON STOCK CHF.12 710889908 183480 NS 4664766.59 0.7800777879 Long EC CORP CH N 2 N N N AIR LIQUIDE SA N/A COMMON STOCK EUR5.5 B1YXBJ905 42943 NS 6806879.99 1.1382983012 Long EC CORP FR N 2 N N N TOKYU CORP N/A COMMON STOCK 689654002 84500 NS 1096670.35 0.1833935663 Long EC CORP JP N 2 N N N KURARAY CO LTD N/A COMMON STOCK 649766003 98300 NS 953760.58 0.1594951064 Long EC CORP JP N 2 N N N GPT GROUP N/A REIT 636586000 360787 NS 1014964.41 0.1697300768 Long RE RF AU N 2 N N N SMITH + NEPHEW PLC N/A COMMON STOCK USD.2 092232909 91575 NS 1793891.8 0.2999882459 Long EC CORP GB N 2 N N N AUCKLAND INTL AIRPORT LTD N/A COMMON STOCK BKX3XG902 116064 NS 563361.59 0.0942096147 Long EC CORP NZ N 2 N N N NOVOZYMES A/S B SHARES N/A COMMON STOCK DKK2.0 B798FW902 18869 NS 1185961.17 0.1983254571 Long EC CORP DK N 2 N N N WARTSILA OYJ ABP N/A COMMON STOCK 452518905 44909 NS 352675.57 0.0589770942 Long EC CORP FI N 2 N N N BAYERISCHE MOTOREN WERKE PRF N/A PREFERENCE 575603907 12675 NS 692718.27 0.1158416236 Long EP CORP DE N 2 N N N KAO CORP N/A COMMON STOCK 648380004 45500 NS 3415717.72 0.5712023253 Long EC CORP JP N 2 N N N CHOCOLADEFABRIKEN LINDT REG N/A COMMON STOCK CHF100.0 596230904 16 NS 1425558.05 0.2383926717 Long EC CORP CH N 2 N N N ESSILORLUXOTTICA N/A COMMON STOCK EUR.18 721247906 26698 NS 3634567.65 0.6078000769 Long EC CORP FR N 2 N N N PANASONIC CORP N/A COMMON STOCK 657270005 231700 NS 1973638.56 0.3300468678 Long EC CORP JP N 2 N N N KONINKLIJKE AHOLD DELHAIZE N N/A COMMON STOCK EUR.01 BD0Q39902 116263 NS 3436490.9 0.5746761746 Long EC CORP NL N 2 N N N AUST AND NZ BANKING GROUP N/A COMMON STOCK 606558005 217232 NS 2710184.78 0.4532177349 Long EC CORP AU N 2 N N N KAJIMA CORP N/A COMMON STOCK 648132009 102900 NS 1239761.22 0.2073223111 Long EC CORP JP N 2 N N N SOLVAY SA N/A COMMON STOCK EUR15.0 482110004 7533 NS 648082.6 0.108377307 Long EC CORP BE N 2 N N N TELEFONICA DEUTSCHLAND HOLDI N/A COMMON STOCK B7VG6L903 252215 NS 644597.45 0.1077944937 Long EC CORP DE N 2 N N N PROSUS NV N/A COMMON STOCK EUR.05 BJDS7L900 23220 NS 2143266.73 0.358413382 Long EC CORP NL N 2 N N N WM MORRISON SUPERMARKETS N/A COMMON STOCK GBP.1 060431004 347721 NS 763224.31 0.1276321805 Long EC CORP GB N 2 N N N HENKEL AG + CO KGAA VORZUG N/A PREFERENCE 507670909 6400 NS 669353.25 0.1119343471 Long EP CORP DE N 2 N N N KUBOTA CORP N/A COMMON STOCK 649750007 135900 NS 2434950.59 0.407190978 Long EC CORP JP N 2 N N N MURATA MANUFACTURING CO LTD N/A COMMON STOCK 661040006 56200 NS 3654526.27 0.6111377094 Long EC CORP JP N 2 N N N ING GROEP NV N/A COMMON STOCK EUR.01 BZ5739900 304242 NS 2171334 0.3631070046 Long EC CORP NL N 2 N N N WENDEL N/A COMMON STOCK EUR4.0 739011906 9722 NS 881896.55 0.1474774561 Long EC CORP FR N 2 N N N BEIERSDORF AG N/A COMMON STOCK 510740905 4809 NS 546001.17 0.091306473 Long EC CORP DE N 2 N N N ONO PHARMACEUTICAL CO LTD N/A COMMON STOCK 666010004 36000 NS 1132338.08 0.1893581956 Long EC CORP JP N 2 N N N AURIZON HOLDINGS LTD N/A COMMON STOCK B87CVM907 211925 NS 651959.29 0.1090255967 Long EC CORP AU N 2 N N N UNIBAIL RODAMCO WESTFIELD N/A REIT EUR5.0 BFYM46904 14324 NS 528266.23 0.0883407013 Long RE RF FR N 2 N N N ASX LTD N/A COMMON STOCK 612922906 10003 NS 584831.51 0.0977999782 Long EC CORP AU N 2 N N N OBAYASHI CORP N/A COMMON STOCK 665640009 91500 NS 835329.97 0.139690238 Long EC CORP JP N 2 N N N KYUSHU RAILWAY COMPANY N/A COMMON STOCK ACI0Q0RP2 52700 NS 1126750.87 0.1884238598 Long EC CORP JP N 2 N N N ORANGE N/A COMMON STOCK EUR4.0 517617908 213989 NS 2228813.93 0.3727192361 Long EC CORP FR N 2 N N N LEGAL + GENERAL GROUP PLC N/A COMMON STOCK GBP.025 056039902 747546 NS 1823610.05 0.304957958 Long EC CORP GB N 2 N N N CAPITALAND MALL TRUST N/A REIT 642012900 364900 NS 519344.35 0.0868487166 Long RE RF SG N 2 N N N CHUGAI PHARMACEUTICAL CO LTD N/A COMMON STOCK 619640006 66300 NS 2975242.56 0.4975427151 Long EC CORP JP N 2 N N N SIEMENS ENERGY AG N/A COMMON STOCK ACI1RCRC2 38259 NS 1031705.39 0.172529631 Long EC CORP DE N 1 N N N TELE2 AB B SHS N/A COMMON STOCK SEK1.25 B97C73904 38449 NS 542089.95 0.090652409 Long EC CORP SE N 2 N N N OSAKA GAS CO LTD N/A COMMON STOCK 666176003 36400 NS 708674.56 0.1185099559 Long EC CORP JP N 2 N N N BURBERRY GROUP PLC N/A COMMON STOCK GBP.0005 317430908 47855 NS 959214.5 0.1604071524 Long EC CORP GB N 2 N N N ERSTE GROUP BANK AG N/A COMMON STOCK 528983901 35902 NS 751802.1 0.1257220716 Long EC CORP AT N 2 N N N ALLIANZ SE REG N/A COMMON STOCK 523148906 31342 NS 6015459.25 1.005950899 Long EC CORP DE N 2 N N N KOMATSU LTD N/A COMMON STOCK 649658002 111200 NS 2442289.73 0.4084182849 Long EC CORP JP N 2 N N N COMPASS GROUP PLC N/A COMMON STOCK GBP.1105 BD6K45906 187629 NS 2818518.37 0.4713341027 Long EC CORP GB N 2 N N N TAYLOR WIMPEY PLC N/A COMMON STOCK GBP.01 087823001 435110 NS 608408.63 0.1017427237 Long EC CORP GB N 2 N N N RYMAN HEALTHCARE LTD N/A COMMON STOCK 616152906 43647 NS 410059.76 0.0685733154 Long EC CORP NZ N 2 N N N SECOM CO LTD N/A COMMON STOCK 679159004 26200 NS 2397704.69 0.400962435 Long EC CORP JP N 2 N N N NN GROUP NV N/A COMMON STOCK EUR.12 BNG8PQ901 41602 NS 1559397.33 0.2607742952 Long EC CORP NL N 2 N N N HENKEL AG + CO KGAA N/A COMMON STOCK 500246905 7911 NS 739900.8 0.1237318456 Long EC CORP DE N 2 N N N DASSAULT SYSTEMES SA N/A COMMON STOCK EUR.5 533004909 13155 NS 2454486.98 0.4104580019 Long EC CORP FR N 2 N N N EAST JAPAN RAILWAY CO N/A COMMON STOCK 629854902 32500 NS 1998708.12 0.3342391905 Long EC CORP JP N 2 N N N ZURICH INSURANCE GROUP AG N/A COMMON STOCK CHF.1 598381903 13181 NS 4596412.2 0.7686470463 Long EC CORP CH N 2 N N N NATIONAL GRID PLC N/A COMMON STOCK GBP.1243129 BDR05C901 282842 NS 3248763.28 0.5432829326 Long EC CORP GB N 2 N N N BOC HONG KONG HOLDINGS LTD N/A COMMON STOCK 653611905 524057 NS 1389267.36 0.2323238662 Long EC CORP HK N 2 N N N DELIVERY HERO SE N/A COMMON STOCK BZCNB4909 16494 NS 1892509.18 0.3164797951 Long EC CORP DE N 2 N N N ASSICURAZIONI GENERALI N/A COMMON STOCK EUR1.0 405671009 151230 NS 2131497.32 0.3564452116 Long EC CORP IT N 2 N N N ELISA OYJ N/A COMMON STOCK 570151902 26593 NS 1563432.65 0.2614491121 Long EC CORP FI N 2 N N N ATLAS COPCO AB B SHS N/A COMMON STOCK SEK.639 BD97BS904 32289 NS 1347546.11 0.2253469211 Long EC CORP SE N 2 N N N INTERCONTINENTAL HOTELS GROU N/A COMMON STOCK GBP.2085213 BHJYC0905 20624 NS 1082561.79 0.1810342254 Long EC CORP GB N 2 N N N VALEO SA N/A COMMON STOCK EUR1.0 BDC5ST904 22741 NS 698334.58 0.1167808258 Long EC CORP FR N 2 N N N SHIN ETSU CHEMICAL CO LTD N/A COMMON STOCK 680458007 23300 NS 3048903.8 0.5098609086 Long EC CORP JP N 2 N N N NGK SPARK PLUG CO LTD N/A COMMON STOCK 661960005 15100 NS 263650.24 0.0440896006 Long EC CORP JP N 2 N N N GECINA SA N/A REIT EUR7.5 774246904 8180 NS 1078333.64 0.180327162 Long RE RF FR N 2 N N N STANDARD LIFE ABERDEEN PLC N/A COMMON STOCK GBP.1396825 BF8Q6K901 250185 NS 728587.98 0.1218400297 Long EC CORP GB N 2 N N N MICHELIN (CGDE) N/A COMMON STOCK EUR2.0 458836004 20945 NS 2248393.49 0.3759934792 Long EC CORP FR N 2 N N N YASKAWA ELECTRIC CORP N/A COMMON STOCK 698604006 23600 NS 923305.2 0.1544021258 Long EC CORP JP N 2 N N N ALCON INC N/A COMMON STOCK CHF.04 ACI198PY5 45153 NS 2559980.33 0.4280994031 Long EC CORP CH N 2 N N N MERCARI INC N/A COMMON STOCK BG0GM1903 15000 NS 693200.96 0.1159223427 Long EC CORP JP N 2 N N N NTT DOCOMO INC N/A COMMON STOCK 612927905 101700 NS 3737078.3 0.6249426884 Long EC CORP JP N 2 N N N EISAI CO LTD N/A COMMON STOCK 630720001 25200 NS 2301573.92 0.3848867157 Long EC CORP JP N 2 N N N MUENCHENER RUECKVER AG REG N/A COMMON STOCK 529412900 13050 NS 3317534.98 0.5547834599 Long EC CORP DE N 2 N N N T+D HOLDINGS INC N/A COMMON STOCK 674429907 57100 NS 562910.23 0.0941341348 Long EC CORP JP N 2 N N N CRH PLC N/A COMMON STOCK EUR.32 418224002 74586 NS 2704586.4 0.4522815312 Long EC CORP IE N 2 N N N AXA SA N/A COMMON STOCK EUR2.29 708842901 174312 NS 3226159.79 0.5395030049 Long EC CORP FR N 2 N N N PUBLICIS GROUPE N/A COMMON STOCK EUR.4 438042905 14356 NS 462693.01 0.0773750482 Long EC CORP FR N 2 N N N KERRY GROUP PLC A N/A COMMON STOCK EUR.125 451957906 19131 NS 2450404.26 0.4097752584 Long EC CORP IE N 2 N N N KIKKOMAN CORP N/A COMMON STOCK 649080009 20200 NS 1120570.58 0.1873903447 Long EC CORP JP N 2 N N N NEWCREST MINING LTD N/A COMMON STOCK 663710002 107182 NS 2430448.45 0.4064380959 Long EC CORP AU N 2 N N N MTR CORP N/A COMMON STOCK 629005901 214837 NS 1066216.23 0.1783007964 Long EC CORP HK N 2 N N N COVIVIO N/A REIT EUR3.0 774563902 9455 NS 663919.45 0.1110256657 Long RE RF FR N 2 N N N BANCO BILBAO VIZCAYA ARGENTA N/A COMMON STOCK EUR.49 550190904 441415 NS 1225339.56 0.2049106113 Long EC CORP ES N 2 N N N SCHNEIDER ELECTRIC SE N/A COMMON STOCK EUR4.0 483410007 55273 NS 6870372.17 1.148915947 Long EC CORP FR N 2 N N N ORIX CORP N/A COMMON STOCK 666114004 137800 NS 1721157.83 0.2878251177 Long EC CORP JP N 2 N N N GENMAB A/S N/A COMMON STOCK DKK1.0 459573903 5564 NS 2019206.26 0.3376670455 Long EC CORP DK N 2 N N N UPM KYMMENE OYJ N/A COMMON STOCK 505125906 73303 NS 2231115.77 0.3731041673 Long EC CORP FI N 2 N N N AJINOMOTO CO INC N/A COMMON STOCK 601090004 43600 NS 893583.48 0.1494318335 Long EC CORP JP N 2 N N N SEKISUI HOUSE LTD N/A COMMON STOCK 679390005 61800 NS 1095140.77 0.1831377782 Long EC CORP JP N 2 N N N BERKELEY GROUP HOLDINGS/THE N/A COMMON STOCK B02L3W908 12172 NS 663528.6 0.1109603048 Long EC CORP GB N 2 N N N NINTENDO CO LTD N/A COMMON STOCK 663955003 7100 NS 4023506.72 0.6728414297 Long EC CORP JP N 2 N N N INVESTMENT AB LATOUR B SHS N/A COMMON STOCK BZ404X902 14660 NS 344420.34 0.0575965918 Long EC CORP SE N 2 N N N SONOVA HOLDING AG REG N/A COMMON STOCK CHF.05 715603908 4890 NS 1239199.85 0.2072284345 Long EC CORP CH N 2 N N N ADECCO GROUP AG REG N/A COMMON STOCK CHF.1 711072900 29669 NS 1565493.8 0.2617937933 Long EC CORP CH N 2 N N N ASAHI KASEI CORP N/A COMMON STOCK 605460005 123300 NS 1075623.15 0.1798738932 Long EC CORP JP N 2 N N N SONY CORP N/A COMMON STOCK 682150008 109700 NS 8407630.38 1.40598797 Long EC CORP JP N 2 N N N MITSUBISHI CHEMICAL HOLDINGS N/A COMMON STOCK B0JQTJ900 156200 NS 901646 0.1507801095 Long EC CORP JP N 2 N N N NSK LTD N/A COMMON STOCK 664154002 35200 NS 269433.19 0.0450566696 Long EC CORP JP N 2 N N N ENEL SPA N/A COMMON STOCK EUR1. 714456902 619206 NS 5372173.51 0.8983757594 Long EC CORP IT N 2 N N N DAI NIPPON PRINTING CO LTD N/A COMMON STOCK 625090006 50700 NS 1027673.84 0.1718554445 Long EC CORP JP N 2 N N N STOCKLAND N/A REIT NPV 685085003 339101 NS 926363.98 0.1549136383 Long RE RF AU N 2 N N N RECRUIT HOLDINGS CO LTD N/A COMMON STOCK BQRRZ0906 127500 NS 5063706.9 0.8467916242 Long EC CORP JP N 2 N N N UNILEVER NV N/A COMMON STOCK EUR.16 B1527V903 123001 NS 7469522.07 1.2491103554 Long EC CORP GB N 2 N N N ODAKYU ELECTRIC RAILWAY CO N/A COMMON STOCK 665610002 20500 NS 515325.78 0.0861767008 Long EC CORP JP N 2 N N N NOMURA RESEARCH INSTITUTE LT N/A COMMON STOCK 639092907 27900 NS 821500.99 0.1373776507 Long EC CORP JP N 2 N N N SUMITOMO MITSUI TRUST HOLDIN N/A COMMON STOCK 643189905 27900 NS 742245.33 0.1241239157 Long EC CORP JP N 2 N N N TOKYO GAS CO LTD N/A COMMON STOCK 689544005 29700 NS 677768.48 0.1133416059 Long EC CORP JP N 2 N N N ORION OYJ CLASS B N/A COMMON STOCK EUR.65 B17NY4905 27997 NS 1268449.52 0.212119787 Long EC CORP FI N 2 N N N ROHM CO LTD N/A COMMON STOCK 674720008 8500 NS 657135.11 0.1098911367 Long EC CORP JP N 2 N N N KINNEVIK AB B N/A COMMON STOCK SEK.1 BN2C4W907 34185 NS 1387512.75 0.2320304469 Long EC CORP SE N 2 N N N ASTELLAS PHARMA INC N/A COMMON STOCK 698538006 178300 NS 2657845.97 0.4444652406 Long EC CORP JP N 2 N N N ASCENDAS REAL ESTATE INV TRT N/A REIT 656387909 175600 NS 420198.62 0.0702688127 Long RE RF SG N 2 N N N SAINSBURY (J) PLC N/A COMMON STOCK GBP.285714 B019KW907 419501 NS 1032865.8 0.1727236836 Long EC CORP GB N 2 N N N 3I GROUP PLC N/A COMMON STOCK GBP.738636 B1YW44908 141524 NS 1817355.06 0.3039119509 Long EC CORP GB N 2 N N N JD SPORTS FASHION PLC N/A COMMON STOCK GBP.0025 BYX91H902 89538 NS 934654.37 0.1563000204 Long EC CORP GB N 2 N N N SHIMIZU CORP N/A COMMON STOCK 680440005 59400 NS 447172.2 0.0747795402 Long EC CORP JP N 2 N N N DEXUS N/A REIT B033YN903 124366 NS 796553.43 0.1332057297 Long RE RF AU N 2 N N N RELX PLC N/A COMMON STOCK GBP.144397 B2B0DG904 148225 NS 3299198.19 0.5517170423 Long EC CORP GB N 2 N N N NIPPON PAINT HOLDINGS CO LTD N/A COMMON STOCK 664050002 14200 NS 1461837.1 0.2444595307 Long EC CORP JP N 2 N N N BASF SE N/A COMMON STOCK NPV ACI0054Q2 79130 NS 4818703.38 0.80582027 Long EC CORP DE N 2 N N N SUMITOMO METAL MINING CO LTD N/A COMMON STOCK 685884009 29900 NS 927326.98 0.1550746785 Long EC CORP JP N 2 N N N UMICORE N/A COMMON STOCK ACI0Y2NL2 15056 NS 626247.07 0.1047258034 Long EC CORP BE N 2 N N N DAIICHI SANKYO CO LTD N/A COMMON STOCK B0J7D9901 146100 NS 4484940.27 0.7500058614 Long EC CORP JP N 2 N N N SSC GOVERNMENT MM GVMXX N/A SSC GOVERNMENT MM GVMXX 7839989D1 4759916.37 NS USD 4759916.37 0.7959894586 Long STIV CORP US N 1 N N N HITACHI CONSTRUCTION MACHINE N/A COMMON STOCK 642940001 16400 NS 594298.15 0.0993830618 Long EC CORP JP N 2 N N N BANK LEUMI LE ISRAEL N/A COMMON STOCK ILS.1 607642907 140694 NS 619386.11 0.1035784615 Long EC CORP IL N 2 N N N MOWI ASA N/A COMMON STOCK NOK7.5 B02L48900 86628 NS 1541275.55 0.2577438331 Long EC CORP NO N 2 N N N CNH INDUSTRIAL NV N/A COMMON STOCK EUR.01 ACI06WQZ3 85902 NS 664395.51 0.1111052761 Long EC CORP GB N 2 N N N STANLEY ELECTRIC CO LTD N/A COMMON STOCK 684110000 12800 NS 368884.85 0.0616877334 Long EC CORP JP N 2 N N N SIKA AG REG N/A COMMON STOCK CHF.01 ACI136GD1 14114 NS 3465716.04 0.579563425 Long EC CORP CH N 2 N N N ASSOCIATED BRITISH FOODS PLC N/A COMMON STOCK GBP.0568 067312900 38625 NS 929913.83 0.1555072713 Long EC CORP GB N 2 N N N KOBE BUSSAN CO LTD N/A COMMON STOCK B14RJB900 16000 NS 881138.46 0.1473506825 Long EC CORP JP N 2 N N N NOVO NORDISK A/S B N/A COMMON STOCK DKK.2 ACI07GG13 141421 NS 9798294.53 1.638545418 Long EC CORP DK N 2 N N N VESTAS WIND SYSTEMS A/S N/A COMMON STOCK DKK1. 596465906 22127 NS 3575866.21 0.5979835752 Long EC CORP DK N 2 N N N FERGUSON PLC N/A COMMON STOCK GBP.1 BJVNSS903 18424 NS 1854014.75 0.3100424634 Long EC CORP GB N 2 N N N SHIMADZU CORP N/A COMMON STOCK 680436003 28900 NS 879610.45 0.147095157 Long EC CORP JP N 2 N N N SARTORIUS AG VORZUG N/A PREFERENCE 584332902 3738 NS 1532109.4 0.2562109997 Long EP CORP DE N 2 N N N KEPPEL CORP LTD N/A COMMON STOCK B1VQ5C905 163100 NS 534264.36 0.0893437543 Long EC CORP SG N 2 N N N AUSNET SERVICES N/A COMMON STOCK ACI092GB0 800210 NS 1080229.99 0.1806442841 Long EC CORP AU N 2 N N N BOUYGUES SA N/A COMMON STOCK EUR1.0 400212908 44119 NS 1524590.97 0.2549537106 Long EC CORP FR N 2 N N N SANDVIK AB N/A COMMON STOCK SEK1.2 B1VQ25903 124757 NS 2439662.65 0.4079789645 Long EC CORP SE N 2 N N N AEGON NV N/A COMMON STOCK EUR.12 592737902 443694 NS 1148416.88 0.192047015 Long EC CORP NL N 2 N N N DEUTSCHE BOERSE AG N/A COMMON STOCK 702196908 13902 NS 2437301.06 0.4075840415 Long EC CORP DE N 2 N N N SCSK CORP N/A COMMON STOCK 685847006 14000 NS 783285.7 0.1309869989 Long EC CORP JP N 2 N N N MERIDIAN ENERGY LTD N/A COMMON STOCK BWFD05904 137382 NS 451832.04 0.0755587941 Long EC CORP NZ N 2 N N N JERONIMO MARTINS N/A COMMON STOCK EUR1. B1Y1SQ901 37025 NS 595375.4 0.0995632077 Long EC CORP PT N 2 N N N INTESA SANPAOLO N/A COMMON STOCK NPV 407683002 1396596 NS 2627579.82 0.4394039046 Long EC CORP IT N 2 N N N CAIXABANK SA N/A COMMON STOCK EUR1.0 B283W9907 312814 NS 664068.34 0.1110505642 Long EC CORP ES N 2 N N N CARREFOUR SA N/A COMMON STOCK EUR2.5 564156909 92398 NS 1476435.46 0.2469007796 Long EC CORP FR N 2 N N N MS+AD INSURANCE GROUP HOLDIN N/A COMMON STOCK B2Q4CS905 38200 NS 1029230.49 0.1721157594 Long EC CORP JP N 2 N N N HENNES + MAURITZ AB B SHS N/A COMMON STOCK 568743900 80183 NS 1381388 0.2310062196 Long EC CORP SE N 2 N N N 2020-11-30 PAX WORLD FUNDS SERIES TRUST I /s/ Alicia DuBois Alicia DuBois Treasurer XXXX NPORT-EX 2 fp0058298_nportex.htm
  Schedules of Investments
Pax MSCI EAFE ESG Leaders Index Fund September 30, 2020

 

PERCENT OF NET ASSETS  SHARES/     
NAME OF ISSUER AND TITLE OF ISSUE  PRINCIPAL   VALUE 
COMMON STOCKS: 98.1%          
AUSTRALIA: 6.5%          
APA Group   91,456   $679,855 
ASX, Ltd.   10,003    584,832 
Aurizon Holdings, Ltd.   211,925    651,959 
AusNet Services   800,210    1,080,230 
Australia & New Zealand Banking Group, Ltd   217,232    2,710,185 
Brambles, Ltd.   171,445    1,301,788 
Coca-Cola Amatil, Ltd.   97,127    664,824 
Cochlear, Ltd.   6,454    922,073 
Coles Group, Ltd.   94,287    1,148,676 
Commonwealth Bank of Australia   163,466    7,522,092 
Dexus, REIT   124,366    796,553 
Evolution Mining, Ltd.   161,800    675,909 
Fortescue Metals Group, Ltd.   210,084    2,468,072 
Goodman Group, REIT   146,512    1,896,953 
GPT Group, The, REIT   360,787    1,014,964 
LendLease Group   62,129    496,315 
Macquarie Group, Ltd.   31,694    2,747,371 
National Australia Bank, Ltd.   303,611    3,900,471 
Newcrest Mining, Ltd.   107,182    2,430,448 
Stockland, REIT   339,101    926,364 
Sydney Airport   205,399    872,221 
Telstra Corp., Ltd.   393,844    788,574 
Transurban Group   239,300    2,443,467 
Vicinity Centres, REIT   418,262    417,678 
         39,141,874 
           
AUSTRIA: 0.4%          
Andritz AG   22,638    698,738 
Erste Group Bank AG (a)   35,902    751,802 
Voestalpine AG   44,453    1,171,596 
         2,622,136 

 

 

 

BELGIUM: 0.7%          
KBC Group NV   14,792    741,760 
Solvay SA   7,533    648,083 
UCB SA   16,706    1,897,361 
Umicore SA   15,056    626,247 
         3,913,451 
           
DENMARK: 3.8%          
Chr. Hansen Holding A/S   10,830    1,202,195 
Coloplast A/S, Class B   9,867    1,563,811 
Genmab A/S (a)   5,564    2,019,206 
H Lundbeck A/S   26,352    867,936 
Novo Nordisk A/S, Class B   141,421    9,798,295 
Novozymes A/S, Class B   18,869    1,185,961 
Orsted A/S   17,681    2,437,510 
Vestas Wind Systems A/S   22,127    3,575,866 
         22,650,780 
           
FINLAND: 0.9%          
Elisa OYJ   26,593    1,563,433 
Orion OYJ, Class B   27,997    1,268,450 
UPM-Kymmene OYJ   73,303    2,231,115 
Wartsila OYJ Abp   44,909    352,676 
         5,415,674 
           
FRANCE: 9.7%          
Accor SA (a)   28,593    800,319 
Air Liquide SA   42,943    6,806,880 
Atos SE (a)   8,301    667,036 
AXA SA   174,312    3,226,160 
Bouygues SA   44,119    1,524,591 
Carrefour SA   92,398    1,476,435 
Cie de Saint-Gobain   51,225    2,145,669 
Covivio, REIT   9,455    663,919 
Credit Agricole SA (a)   150,639    1,314,308 
Danone SA   43,289    2,804,044 
Dassault Systemes SA   13,155    2,454,487 
EssilorLuxottica SA   26,698    3,634,568 
Gecina SA, REIT   8,180    1,078,334 

 

 

 

Getlink SE (a)   55,311    749,259 
Kering SA   7,369    4,888,169 
Klepierre SA, REIT (b)   45,935    642,997 
L'Oreal SA   22,774    7,411,315 
Michelin   20,945    2,248,393 
Natixis SA (a)   179,045    402,366 
Orange SA   213,989    2,228,814 
Publicis Groupe SA   14,356    462,693 
Schneider Electric SE   55,273    6,870,372 
Teleperformance   1,929    594,714 
Ubisoft Entertainment SA (a)   9,994    900,739 
Unibail-Rodamco-Westfield, REIT (b)   14,324    528,266 
Valeo SA   22,741    698,335 
Wendel SA   9,722    881,897 
         58,105,079 
           
GERMANY: 9.5%          
adidas AG   16,069    5,189,355 
Allianz SE   31,342    6,015,460 
BASF SE   79,130    4,818,703 
Bayerische Motoren Werke AG   27,584    2,001,967 
Beiersdorf AG   4,809    546,001 
Delivery Hero SE (a)   16,494    1,892,509 
Deutsche Boerse AG   13,902    2,437,301 
Henkel AG & Co. KGaA   7,911    739,901 
Muenchener Rueckversicherungs AG   13,050    3,317,535 
SAP SE   104,761    16,313,184 
Siemens AG   76,518    9,663,379 
Siemens Energy AG (a)   38,259    1,031,705 
Symrise AG   16,015    2,212,031 
Telefonica Deutschland Holding AG   252,215    644,597 
         56,823,628 
           
HONG KONG: 1.9%          
BOC Hong Kong Holdings, Ltd.   524,057    1,389,267 
Hang Seng Bank, Ltd.   99,900    1,479,997 
HKT Trust & HKT, Ltd.   915,000    1,214,486 
Hong Kong & China Gas Co., Ltd.   677,430    983,654 
Hong Kong Exchanges and Clearing, Ltd.   83,699    3,940,002 
MTR Corp., Ltd.   214,837    1,066,216 
Swire Pacific, Ltd., Class A   117,500    568,874 
Swire Properties, Ltd.   161,200    427,113 
         11,069,609 

 

 

 

IRELAND: 0.9%          
CRH PLC   74,586    2,704,587 
Kerry Group PLC, Class A   19,131    2,450,404 
         5,154,991 
           
ISRAEL: 0.2%          
Bank Hapoalim BM   117,543    628,027 
Bank Leumi Le-Israel BM   140,694    619,386 
         1,247,413 
           
ITALY: 1.8%          
Assicurazioni Generali SpA   151,230    2,131,497 
CNH Industrial NV   85,902    664,396 
Enel SpA   619,206    5,372,173 
Intesa Sanpaolo SpA   1,396,596    2,627,580 
         10,795,646 
           
JAPAN: 26.7%          
Aeon Co., Ltd.   65,500    1,762,005 
Ajinomoto Co., Inc.   43,600    893,583 
ANA Holdings, Inc. (a)   42,600    985,361 
Asahi Kasei Corp.   123,300    1,075,623 
Astellas Pharma, Inc.   178,300    2,657,846 
Bridgestone Corp.   55,900    1,766,951 
Central Japan Railway Co.   3,400    487,355 
Chugai Pharmaceutical Co., Ltd.   66,300    2,975,243 
Dai Nippon Printing Co., Ltd. (b)   50,700    1,027,674 
Daifuku Co, Ltd.   9,900    999,280 
Daiichi Sankyo Co., Ltd.   146,100    4,484,940 
Daiwa House Industry Co., Ltd.   48,500    1,243,895 
Denso Corp.   42,700    1,871,614 
East Japan Railway Co.   32,500    1,998,708 
Eisai Co., Ltd.   25,200    2,301,574 
Fast Retailing Co., Ltd.   6,000    3,770,527 
Fujitsu, Ltd.   18,300    2,500,102 
Hitachi Construction Machinery Co., Ltd.   16,400    594,298 
Honda Motor Co., Ltd.   121,200    2,878,169 

 

 

 

Japan Retail Fund Investment Corp., REIT   807    1,248,445 
JFE Holdings, Inc.   133,700    936,137 
Kajima Corp.   102,900    1,239,761 
Kao Corp.   45,500    3,415,718 
KDDI Corp.   144,300    3,629,369 
Keio Corp.   9,800    606,677 
Keyence Corp.   17,900    8,367,875 
Kikkoman Corp.   20,200    1,120,571 
Kobe Bussan Co., Ltd.   16,000    881,138 
Komatsu, Ltd.   111,200    2,442,290 
Kubota Corp.   135,900    2,434,951 
Kuraray Co., Ltd.   98,300    953,761 
Kurita Water Industries, Ltd.   26,400    873,014 
Kyushu Railway Co.   52,700    1,126,751 
Mazda Motor Corp.   99,900    585,987 
Mercari, Inc. (a)   15,000    693,201 
Mitsubishi Chemical Holdings Corp.   156,200    901,646 
Mitsubishi Estate Co., Ltd.   129,000    1,954,041 
Mitsubishi UFJ Lease & Finance Co., Ltd.   119,200    553,846 
Mitsui Fudosan Co., Ltd.   81,900    1,425,197 
Miura Co., Ltd.   8,600    421,821 
Mizuho Financial Group, Inc.   146,050    1,822,947 
MS&AD Insurance Group Holdings, Inc.   38,200    1,029,230 
Murata Manufacturing Co., Ltd.   56,200    3,654,526 
NEC Corp.   36,200    2,117,473 
NGK Insulators, Ltd.   75,800    1,082,306 
NGK Spark Plug Co., Ltd.   15,100    263,650 
Nikon Corp. (b)   60,000    404,860 
Nintendo Co., Ltd.   7,100    4,023,507 
Nippon Paint Holdings Co., Ltd.   14,200    1,461,837 
Nitto Denko Corp.   12,400    807,844 
Nomura Research Institute, Ltd.   27,900    821,501 
NSK, Ltd.   35,200    269,433 
NTT DOCOMO, Inc.   101,700    3,737,078 
Obayashi Corp.   91,500    835,330 
Odakyu Electric Railway Co., Ltd.   20,500    515,326 
Omron Corp.   18,200    1,422,987 
Ono Pharmaceutical Co., Ltd.   36,000    1,132,338 
Oriental Land Co., Ltd. (b)   22,600    3,169,541 
ORIX Corp.   137,800    1,721,158 
Osaka Gas Co., Ltd.   36,400    708,675 

 

 

 

Panasonic Corp.   231,700    1,973,639 
Park24 Co., Ltd.   50,600    821,523 
Rakuten, Inc.   84,600    912,239 
Recruit Holdings Co, Ltd.   127,500    5,063,707 
Resona Holdings, Inc.   206,600    703,851 
Rohm Co., Ltd.   8,500    657,135 
Santen Pharmaceutical Co., Ltd.   43,200    883,262 
SCSK Corp.   14,000    783,286 
Secom Co., Ltd.   26,200    2,397,705 
Sekisui Chemical Co., Ltd.   35,300    564,633 
Sekisui House, Ltd.   61,800    1,095,141 
Seven & i Holdings Co., Ltd.   65,300    2,028,876 
Shimadzu Corp.   28,900    879,610 
Shimizu Corp.   59,400    447,172 
Shin-Etsu Chemical Co., Ltd.   23,300    3,048,904 
Shiseido Co., Ltd.   34,400    1,991,414 
Sompo Holdings, Inc.   30,200    1,042,599 
Sony Corp.   109,700    8,407,630 
Stanley Electric Co., Ltd.   12,800    368,885 
Sumitomo Metal Mining Co., Ltd.   29,900    927,327 
Sumitomo Mitsui Trust Holdings Inc   27,900    742,245 
Suntory Beverage & Food, Ltd.   16,800    630,897 
Sysmex Corp.   14,500    1,387,388 
T&D Holdings, Inc.   57,100    562,910 
Taisei Corp.   21,600    731,097 
Takeda Pharmaceutical Co., Ltd.   138,400    4,946,821 
Tokyo Electron, Ltd.   10,500    2,743,172 
Tokyo Gas Co., Ltd.   29,700    677,768 
Tokyu Corp.   84,500    1,096,670 
Toray Industries, Inc.   176,900    809,318 
TOTO, Ltd.   20,600    949,233 
Unicharm Corp.   39,100    1,748,680 
West Japan Railway Co.   22,200    1,096,864 
Yamada Denki Co., Ltd.   190,800    951,506 
Yamaha Corp.   23,500    1,127,079 
Yaskawa Electric Corp.   23,600    923,305 
Yokogawa Electric Corp.   22,700    360,511 
         159,572,494 

 

 

 

NETHERLANDS: 7.0%          
Aegon NV   443,694    1,148,417 
Akzo Nobel NV   19,292    1,949,850 
ASML Holding NV   42,588    15,730,852 
ING Groep NV   304,242    2,171,334 
Koninklijke Ahold Delhaize NV   116,263    3,436,491 
Koninklijke Philips NV   91,652    4,327,726 
NN Group NV   41,602    1,559,397 
Prosus NV (a)   23,220    2,143,267 
Unilever NV   123,001    7,469,522 
Wolters Kluwer NV   23,424    1,998,124 
         41,934,980 
           
NEW ZEALAND: 0.4%          
Auckland International Airport, Ltd.   116,064    563,362 
Fisher & Paykel Healthcare Corp., Ltd.   48,472    1,069,802 
Meridian Energy, Ltd.   137,382    451,832 
Ryman Healthcare, Ltd.   43,647    410,060 
         2,495,056 
           
NORWAY: 0.7%          
Mowi ASA (b)   86,628    1,541,276 
Norsk Hydro ASA   430,487    1,188,241 
Telenor ASA   87,437    1,467,959 
         4,197,476 
           
PORTUGAL: 0.4%          
EDP - Energias de Portugal SA   357,813    1,759,342 
Jeronimo Martins SGPS SA   37,025    595,375 
         2,354,717 
           
SINGAPORE: 1.3%          
Ascendas Real Estate Investment Trust, REIT   175,600    420,199 
CapitaLand Commercial Trust, REIT   533,800    647,257 
CapitaLand Mall Trust, REIT   364,900    519,344 
CapitaLand, Ltd. (b)   356,726    713,225 
DBS Group Holdings, Ltd.   152,683    2,244,646 
Jardine Cycle & Carriage, Ltd.   57,700    765,887 
Keppel Corp., Ltd.   163,100    534,264 
Singapore Airlines, Ltd.   389,200    995,992 
Singapore Telecommunications, Ltd.   696,400    1,089,916 
         7,930,730 

 

 

 

SPAIN: 2.4%          
Banco Bilbao Vizcaya Argentaria SA   441,415    1,225,340 
CaixaBank SA   312,814    664,068 
Iberdrola SA   519,933    6,399,638 
Industria de Diseno Textil SA   99,001    2,738,802 
Naturgy Energy Group SA   46,556    933,665 
Red Electrica Corp. SA   34,092    639,407 
Telefonica SA   552,801    1,893,657 
         14,494,577 
           
SWEDEN: 3.2%          
Assa Abloy AB, Class B   80,772    1,888,459 
Atlas Copco AB, Class A   66,645    3,177,550 
Atlas Copco AB, Class B   32,289    1,347,546 
Boliden AB   43,112    1,279,160 
Essity AB, Class B (b)   42,436    1,432,692 
Hennes & Mauritz AB, Class B   80,183    1,381,388 
Investment AB Latour, Class B   14,660    344,420 
Kinnevik AB, Class B (b)   34,185    1,387,513 
Sandvik AB   124,757    2,439,664 
Skandinaviska Enskilda Banken AB, Class A (a)   72,523    644,118 
Skanska AB, Class B   33,724    712,204 
SKF AB, Class B   37,739    778,577 
Svenska Handelsbanken AB, Class A   103,180    863,283 
Tele2 AB, Class B (b)   38,449    542,090 
Telia Company AB (b)   288,455    1,180,108 
         19,398,772 
           
SWITZERLAND: 8.9%          
ABB, Ltd.   183,480    4,664,767 
Adecco Group AG   29,669    1,565,494 
Alcon, Inc. (a)   45,153    2,559,980 
Chocoladefabriken Lindt & Spruengli AG-Reg   16    1,425,558 
Givaudan SA   762    3,290,169 
Kuehne & Nagel International AG   9,040    1,755,327 
Lonza Group AG   6,158    3,800,318 
Roche Holding AG   58,177    19,927,981 
SGS SA   617    1,653,460 
Sika AG   14,114    3,465,716 
Sonova Holding AG (a)   4,890    1,239,200 
Swiss Re AG   32,729    2,427,801 
Swisscom AG   2,008    1,063,754 
Zurich Insurance Group AG   13,181    4,596,412 
         53,435,937 

 

 

 

UNITED KINGDOM: 10.8%          
3i Group PLC   141,524    1,817,355 
Associated British Foods PLC   38,625    929,914 
Aviva PLC   443,936    1,642,444 
Barratt Developments PLC   119,255    731,357 
Berkeley Group Holdings PLC   12,172    663,529 
British Land Co. PLC, The, REIT   198,118    863,676 
BT Group PLC   490,539    621,327 
Burberry Group PLC   47,855    959,215 
Compass Group PLC   187,629    2,818,518 
DCC PLC   10,059    778,694 
Ferguson PLC   18,424    1,854,015 
GlaxoSmithKline PLC   436,073    8,175,272 
Informa PLC   119,603    579,676 
InterContinental Hotels Group PLC   20,624    1,082,562 
J Sainsbury PLC   419,501    1,032,866 
JD Sports Fashion PLC   89,538    934,654 
Legal & General Group PLC   747,546    1,823,610 
London Stock Exchange Group PLC   26,884    3,084,047 
Mondi PLC   37,295    788,588 
National Grid PLC   282,842    3,248,763 
Pearson PLC   85,695    607,887 
Prudential PLC   210,714    3,023,390 
Reckitt Benckiser Group PLC   62,124    6,057,415 
RELX PLC   148,225    3,299,198 
Rentokil Initial, PLC   115,302    796,950 
RSA Insurance Group PLC   95,969    560,348 
Smith & Nephew PLC   91,575    1,793,892 
Spirax-Sarco Engineering, PLC   7,320    1,042,380 
SSE PLC   76,957    1,197,771 
Standard Chartered PLC   232,861    1,071,530 
Standard Life Aberdeen PLC   250,185    728,588 
Taylor Wimpey PLC   435,110    608,409 
Tesco PLC   853,634    2,341,778 
Unilever PLC   78,241    4,823,804 
Whitbread PLC   16,184    442,190 
Wm Morrison Supermarkets PLC   347,721    763,224 
WPP PLC   103,087    809,640 
         64,398,476 

 

 

 

TOTAL COMMON STOCKS          
(Cost $506,768,923)        587,153,496 
           
PREFERRED STOCKS: 0.5%          
GERMANY: 0.5%          
Bayerische Motoren Werke AG   12,675    692,718 
Henkel AG & Co. KGaA   6,400    669,353 
Sartorius AG (a)   3,738    1,532,110 
TOTAL PREFERRED STOCKS        2,894,181 
(Cost $2,156,429)          
           
MONEY MARKET: 0.8%          
State Street Institutional U.S. Government Money Market Fund, 0.030% (c)(d)   4,759,916    4,759,916 
(Cost $4,759,916)          
           
SECURITIES PURCHASED WITH CASH COLLATERAL FROM SECURITIES LENDING: 0.7%          
State Street Navigator Securities Lending Government Money Market Portfolio, 0.090% (c)(d)   3,978,257    3,978,257 
(Cost $3,978,257)          
           
TOTAL INVESTMENTS: 100.1%        598,785,850 
(Cost $517,663,525)          
           
PAYABLE UPON RETURN OF SECURITIES LOANED: -0.7%        (3,978,257)
           
Other assets and liabilities - (net): 0.6%        3,380,925 
           
Net Assets: 100.0%       $598,188,518 

 

 

 

(a)Security or partial position of this security was on loan as of September 30, 2020. The total market value of securities on loan as of September 30, 2020 was $11,178,435.
(b)Non-income producing security.
(c)Rate shown represents annualized 7-day yield as of September 30, 2020
(d)Premier Class shares

REIT - Real Estate Investment Trust

 

SUMMARY OF INVESTMENTS BY SECTOR        
       PERCENT OF 
SECTOR  VALUE   NET ASSETS 
Communication Services  $29,049,304    4.9%
Consumer Discretionary   68,121,360    11.4%
Consumer Staples   64,233,752    10.7%
Financials   90,231,723    15.1%
Health Care   83,942,885    14.1%
Industrials   97,865,072    16.3%
Information Technology   59,473,737    9.9%
Materials   52,065,949    8.7%
Real Estate   18,493,609    3.1%
Utilities   26,570,285    4.4%
Money Market   4,759,916    0.8%
Other assets and liabilities (net)   3,380,925    0.6%
Total  $598,188,518    100.0%

 

 

 

September 30, 2020

 

Pax World Funds Series Trust I and Pax World Fund Series Trust III

 

Valuation of Investments For purposes of calculating the net asset value (“NAV”), determined ordinarily as of the close of regular trading (normally 4:00 p.m. Eastern time) (the “NYSE Close”) on the New York Stock Exchange (“NYSE”) on each day that the NYSE is open for trading, the Funds normally use pricing data for domestic equity securities received shortly after the NYSE Close and do not normally take into account trading, clearances or settlements that take place after the NYSE Close. U.S. fixed income and non-U.S. securities are normally priced using data reflecting the earlier closing of the principal markets for those securities, subject to possible fair value adjustments. Information that becomes known to the Funds or their agents after NAV has been calculated on a particular day will not generally be used to retroactively adjust the price of a security or NAV determined earlier that day.

 

For the purpose of these financial statements, fair values for various types of securities and other instruments are determined on the basis of closing prices or last sales prices on an exchange or other market, or based on quotes or other market information obtained from quotation reporting systems, established market makers or pricing services. Short-term investments having a maturity of 60 days or less are generally valued at amortized cost, which approximates fair value.

 

Investments denominated in currencies other than the U.S. dollar are converted to U.S. dollars using exchange rates obtained from pricing services. As a result, the NAV of a Fund’s shares may be affected by changes in the value of currencies in relation to the U.S. dollar.

 

If market quotations are not readily available (including in cases when available market quotations are deemed to be unreliable), the Funds’ investments will be valued as determined in good faith pursuant to policies and procedures approved by the Boards of Trustees of the Trusts (the "Boards" or "Boards of Trustees")(so called “fair value pricing”). Fair value pricing may require subjective determinations about the value of a security or other asset, and fair values used to determine a Fund’s NAV may differ from quoted or published prices, or from prices that are used by others, for the same investments. Also, the use of fair value pricing may not always result in adjustments to the prices of securities or other assets held by a Fund. The Boards have delegated to the Advisers’ Best Execution and Valuation Committee the day-to-day responsibility for making fair value pricing determinations with respect to Fund holdings.

 

The Funds may determine that market quotations are not readily available due to events relating to a single issuer (e.g., corporate actions or announcements) or events relating to multiple issuers (e.g., governmental actions or natural disasters). The Funds may determine the fair value of investments based on information provided by pricing services and other third-party vendors, which may recommend fair value prices or adjustments with reference to other securities, indices or assets. In considering whether fair value pricing is required and in determining fair values, the Funds may, among other things, consider significant events (which may be considered to include changes in the value of U.S. securities or securities indices) that occur after the close of the relevant market and the usual time of valuation. At September 30, 2020, four securities were fair valued in good faith pursuant to policies and procedures approved by the Boards of Trustees. The High Yield Bond Fund held two securities fair valued at $0, representing 0.00% of the Fund’s net asset value, and the Core Bond Fund and High Yield Bond Fund each hold one position each in a Community Investment note which is valued based on a general obligation by the parent entity to limit exposure on the issue.

 

For those Funds that invest in non-U.S. securities, investors should be aware that many securities markets and exchanges outside the U.S. close prior to the close of the NYSE, and the closing prices for securities in such markets or on such exchanges may not fully reflect events that occur after such close but before the close of the NYSE. As a result, the Funds’ fair value pricing procedures require the Funds to consider changes in the fair value of non-U.S. securities between the time of the closing of the local market’s exchange and the close of the NYSE. Generally, if there has been a movement in the U.S. market that exceeds a specified threshold, the Funds will assess whether the closing price on the local exchange is still appropriate. Although the threshold may be revised from time to time and the number of days on which fair value prices will be used will depend on market activity, it is possible that fair value prices will be used by the Funds to a significant extent. The value determined for an investment using the Funds’ fair value pricing procedures may differ from recent market prices for the investment.

 

 

 

Fair Value Measurements Fair value is defined as the price that the Fund would receive upon selling an investment in an orderly transaction between market participants. The three-tier hierarchy of inputs is summarized in the three broad Levels listed below.

 

• Level 1 – unadjusted quoted prices in active markets for identical investments

 

• Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

 

• Level 3 – significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments)

 

Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a general summary of valuation inputs and classifications for different categories of securities.

 

Equity Securities Equity securities, including common stocks, preferred stocks and exchange-traded funds, for which market quotations are readily available, valued at the last reported sale price or official closing price as reported by an independent pricing service, are generally categorized as Level 1 in the hierarchy. Non-U.S. equity securities may also be valued at official close, or may be valued based on the fair value pricing procedures noted above. When third-party fair value pricing of foreign securities methods are applied, they are generally categorized as Level 2. To the extent that inputs for equity securities are unobservable, values are categorized as Level 3 in the hierarchy.

 

Fixed Income Securities Fixed income securities, including Corporate Bonds (both investment-grade and high-yield), U.S. Treasury Obligations, Government Bonds, Mortgage-Backed and Asset-Backed Securities, Bank Loans and Municipal Bonds, are valued at evaluated prices received from independent pricing services, which are evaluated using various inputs and techniques which may include trade activity, broker-dealer quotes, yield curves, coupon rates, default rates, cash flows, models and other inputs, and are generally categorized as Level 2 in the hierarchy. To the extent that inputs for fixed income securities are unobservable, values are categorized as Level 3 in the hierarchy.

 

Affiliated and Unaffiliated Investment Companies Investments in mutual funds are valued at the Funds’ closing net asset value and are generally categorized as Level 1.

 

Short-term Investments Short-term securities, including repurchase agreements, with remaining maturities of 60 days or less, which are valued at amortized cost, are generally categorized as Level 2 in the hierarchy.

 

 

 

The following is a summary of the inputs used to value the Funds’ net assets as of September 30, 2020:

 

   Level 1   Level 2   Level 3*   Totals 
Large Cap                    
Common Stocks  $862,792,309   $-   $-   $862,792,309 
Cash Equivalents   37,183,475    -    -    37,183,475 
Total  $899,975,784   $-   $-   $899,975,784 
Small Cap                    
Common Stocks  $349,069,153   $-   $-   $349,069,153 
Cash Equivalents   12,342,593    -    -    12,342,593 
Total  $361,411,746   $-   $-   $361,411,746 
ESG Beta Quality                    
Common Stocks  $233,690,319   $-   $-   $233,690,319 
Cash Equivalents   1,086,196    -    -    1,086,196 
Total  $234,776,515   $-   $-   $234,776,515 
ESG Beta Dividend                    
Common Stocks  $122,592,619   $-   $-   $122,592,619 
Cash Equivalents   1,090,974    -    -    1,090,974 
Total  $123,683,593   $-   $-   $123,683,593 
Global Opportunities                    
Common Stocks  $29,676,029   $23,547,538   $-   $53,223,567 
Cash Equivalents   1,042,686    -    -    1,042,686 
Total  $30,718,715   $23,547,538   $-   $54,266,253 
Global Environmental Markets                    
Common Stocks  $702,264,595   $475,988,030   $-   $1,178,252,625 
Cash Equivalents   38,788,560    -    -    38,788,560 
Total  $741,053,155   $475,988,030   $-   $1,217,041,185 
Global Women’s Leadership                    
Common Stocks  $436,731,688   $164,493,782   $-   $601,225,470 
Preferred Stocks   -    586,890    -    586,890 
Cash Equivalents   3,840,223    -    -    3,840,223 
Total  $440,571,911   $165,080,672   $-   $605,652,583 
EAFE ESG Leaders                    
Common Stocks  $14,902,920   $572,250,576   $-   $587,153,496 
Preferred Stocks   -    2,894,181    -    2,894,181 
Cash Equivalents   4,759,916    -    -    4,759,916 
Total  $19,662,836   $575,144,757   $-   $594,807,593 
Core Bond                
Community Investment Notes  $-   $-   $286,933    286,933 
Corporate Bonds   -    281,706,587    -    281,706,587 
U.S. Gov't Agency Bonds   -    9,098,466    -    9,098,466 
Supranational Bonds   -    75,173,552    -    75,173,552 
Municipal Bonds   -    19,618,649    -    19,618,649 
U.S. Treasury Notes   -    96,226,817    -    96,226,817 
Asset-Backed Securities   -    52,006,485    -    52,006,485 
Mortgage-Backed Securities   -    184,320,254    -    184,320,254 
Medium Term Certificates of Deposit   -    261,149    -    261,149 
Cash Equivalents   32,133,339    255,557    -    32,388,896 
Total  $32,133,339   $718,667,516   $286,933   $751,087,788 
High Yield Bond                    
Common Stocks  $-   $-   $0   $0 
Community Investment Notes             500,000    500,000 
Preferred Stocks   3,289,200    -    0    3,289,200 
Corporate Bonds   -    382,306,050    -    382,306,050 
Loans   -    3,237,894    -    3,237,894 
Medium Term Certificates of Deposit   -    100,871    -    100,871 
Cash Equivalents   12,821,526    1,108,891    -    13,930,417 
Total  $16,110,726   $386,753,706   $500,000   $403,364,432 
Sustainable Allocation                    
Affiliated Investment Companies  $1,900,335,122   $-   $-   $1,900,335,122 
Cash Equivalents   75,262,447    -    -    75,262,447 
Total  $1,975,597,569   $-   $-   $1,975,597,569 

 

*Table includes securities valued at zero.

 

 

 

 

Affiliated Investments The term “affiliated company” includes other investment companies that are managed by a Fund’s Adviser. At September 30, 2020, the Sustainable Allocation Fund held the following investments in affiliated Funds:

 

   Shares Held at   Gross   Gross   Shares Held at   Value at   Dividend   Realized   Net change in Unrealized Appreciation/   Value at 
Fund  12/31/19   Additions   Reductions   9/30/2020   12/31/19   Income   Gains/Losses1   Depreciation   09/30/20 
Sustainable Allocation                                             
Large Cap   73,178,029    3,835,312    6,629,032    70,384,309   $761,051,498   $3,440,315   $2,803,750   $64,527,917   $791,823,480 
Small Cap   2,158,328    1,631,022    -    3,789,350    31,986,423    -    -    (3,065,910)   48,920,512 
ESG Beta Dividend   10,010,369    90,100    1,963,974    8,136,495    128,232,821    1,094,720    4,118,270    (2,345,914)   106,099,897 
Global Opportunities   2,548,966    -    -    2,548,966    30,689,545    -    -    2,243,090    32,932,635 
Global Environmental Markets   1,482,025    693,169    -    2,175,194    25,149,965    159,810    -    6,735,842    40,545,617 
Global Women's Leadership   785,900    737,843    -    1,523,743    21,329,334    287,008    -    (170,537)   41,445,806 
EAFE ESG Leaders   15,576,499    3,282,363    2,116,402    16,742,460    145,484,501    1,707,198    1,664,745    (1,848,547)   149,007,897 
Core Bond   66,778,157    4,232,916    7,162,992    63,848,081    687,147,238    10,629,102    3,396,107    28,886,831    689,559,278 
High Yield   3,263,125    69,072    3,332,197    -    22,058,723    448,587    (130,091)   (1,047,239)   - 
Total                      $1,853,130,048   $17,766,740   $11,852,782   $93,915,532   $1,900,335,122 

 

1Includes realized capital gain distributions, from an affiliated fund, if any.