Schedule of Portfolio Investments

Praxis Impact Bond Fund

March 31, 2022 (Unaudited)  

MUNICIPAL BONDS - 1.1%	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	$	1,158,598
City of San Francisco, California, Public Utilities Comm. Water Rev., Series 2019-A		3.303	%		11/01/39		2,500,000		2,372,461
Findlay City School District, Series 2010-B		6.250	%		12/01/37		270,000		270,813
Houston, Texas, Independent School District, Series 2009A-2		6.168	%		02/15/34		1,000,000		1,033,920
Massachusetts St., Series 2016-F		3.277	%		06/01/46		3,100,000		2,919,611
New Jersey St. Housing & Mortgage Finance, Series 2013-C		2.600	%		07/01/23		85,000		85,071
Osceola County Housing Finance Authority Rev., Series 2013-B		3.350	%		07/01/23		65,000		65,859
TOTAL MUNICIPAL BONDS (COST $8,382,215)								$	7,906,333
CORPORATE BONDS - 42.0%		Coupon			Maturity		Principal Amount		Fair Value
APPAREL & TEXTILE PRODUCTS - 0.2%
Hanesbrands, Inc. (a)		4.625	%		05/15/24	$	500,000	$	507,500
VF Corp.		2.400	%		04/23/25		536,000		524,124
									1,031,624
ASSET MANAGEMENT - 0.1%
Ameriprise Financial, Inc.		3.000	%		04/02/25		730,000		727,200
AUTOMOTIVE - 0.8%
BMW US Capital, LLC (a)		3.800	%		04/06/23		1,000,000		1,014,358
BorgWarner, Inc.		2.650	%		07/01/27		601,000		580,344
Honda Motor Co. Ltd. (b)		2.967	%		03/10/32		760,000		735,323
Hyundai Capital Services, Inc. (a)		1.250	%		02/08/26		200,000		183,455
Magna International, Inc.		2.450	%		06/15/30		1,250,000		1,151,613
Toyota Motor Credit Corp., Series B (b)		2.900	%		03/30/23		1,735,000		1,746,414
									5,411,507
BANKING - 4.6%
Bank of America Corp. (b)		3.300	%		01/11/23		500,000		505,540
Bank of America Corp.		4.100	%		07/24/23		1,000,000		1,021,893

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund  

CORPORATE BONDS - 42.0% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
BANKING - 4.6% (Continued)
Bank of America Corp. (b)		0.981	%		09/25/25	$	1,500,000	$	1,421,714
Bank of America Corp.		2.456	%		10/22/25		1,000,000		982,601
Bank of America Corp. (b)		1.530	%		12/06/25		2,000,000		1,912,598
Bank of America Corp.		4.271	%		07/23/29		1,000,000		1,031,703
Bank of Montreal (b)		3.300	%		02/05/24		1,000,000		1,013,490
Citigroup, Inc.		3.875	%		10/25/23		1,000,000		1,021,668
Citigroup, Inc.		1.678	%		05/15/24		1,250,000		1,239,741
Citigroup, Inc. (b)		3.700	%		01/12/26		1,750,000		1,771,537
Citigroup, Inc.		2.572	%		06/03/30		1,000,000		916,107
ING Groep N.V. (a)		4.625	%		01/06/26		1,250,000		1,291,907
JPMorgan Chase & Co.		0.653	%		09/16/24		1,000,000		972,367
JPMorgan Chase & Co.		0.563	%		02/16/25		500,000		477,840
JPMorgan Chase & Co. (b)		3.200	%		06/15/26		2,557,000		2,570,750
JPMorgan Chase & Co.		2.739	%		10/15/30		2,000,000		1,889,842
Key Bank, N.A.		1.250	%		03/10/23		1,750,000		1,735,751
Mitsubishi UFJ Financial Group (b)		2.527	%		09/13/23		1,250,000		1,248,761
National Australia Bank, New York Branch (b)		3.625	%		06/20/23		1,750,000		1,777,360
National Bank of Canada (a)		2.150	%		10/07/22		1,250,000		1,252,770
PNC Bank N.A.		3.500	%		06/08/23		1,285,000		1,300,336
Regions Financial Corp. (b)		2.250	%		05/18/25		1,000,000		973,170
Sumitomo Mitsui Financial Group, Inc. (b)		0.508	%		01/12/24		2,000,000		1,923,182
Toronto-Dominion Bank (SOFR + 45) (c)		0.500	%		09/28/23		2,000,000		1,992,544
									32,245,172
BEVERAGES - 0.2%
Coca-Cola Co. (The)		3.450	%		03/25/30		500,000		513,925
Coca-Cola Femsa S.A.B. de C.V. (b)		1.850	%		09/01/32		1,000,000		867,640
									1,381,565
BIOTECH & PHARMA - 0.9%
AbbVie, Inc.		2.950	%		11/21/26		500,000		495,300
Amgen, Inc.		3.000	%		02/22/29		2,500,000		2,454,173
Gilead Sciences, Inc.		3.650	%		03/01/26		750,000		762,757
Zeneca Wilmington, Inc.		7.000	%		11/15/23		1,100,000		1,175,950
Zoetis, Inc.		3.250	%		02/01/23		1,200,000		1,208,293
									6,096,473

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund  

CORPORATE BONDS - 42.0% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
CABLE & SATELLITE - 0.2%
Comcast Corp. (b)		3.300	%		04/01/27	$	500,000	$	505,860
Comcast Corp. (a)		2.937	%		11/01/56		672,000		554,752
Time Warner Cable, Inc.		4.500	%		09/15/42		500,000		462,460
									1,523,072
CHEMICALS - 1.1%
Avery Dennison Corp.		2.650	%		04/30/30		1,250,000		1,160,506
DowDuPont, Inc.		4.493	%		11/15/25		1,500,000		1,560,072
Ecolab, Inc.		4.800	%		03/24/30		140,000		154,928
Ecolab, Inc.		2.750	%		08/18/55		1,470,000		1,215,567
LG Chemical Ltd. (a)		3.250	%		10/15/24		290,000		290,671
Nutrien Ltd.		1.900	%		05/13/23		800,000		793,981
Nutrien Ltd.		5.875	%		12/01/36		840,000		994,265
Solvay Finance S.A. (a)		4.450	%		12/03/25		1,250,000		1,284,015
									7,454,005
CONSTRUCTION MATERIALS - 0.4%
Carlisle Cos., Inc.		3.500	%		12/01/24		1,250,000		1,260,363
Owens Corning		4.200	%		12/01/24		1,000,000		1,022,605
Owens Corning		3.950	%		08/15/29		300,000		305,327
									2,588,295
CONSUMER SERVICES - 4.6%
Andrew W. Mellon Funding		0.947	%		08/01/27		1,050,000		951,117
California Endowment (The)		2.498	%		04/01/51		4,500,000		3,705,045
Conservation Fund, Series 2019		3.474	%		12/15/29		535,000		522,076
Ford Foundation (The), Series 2017		3.859	%		06/01/47		2,485,000		2,665,128
John D. & Catherine T. MacArthur Foundation, Series 2020		1.299	%		12/01/30		1,500,000		1,320,489
Leland Stanford Junior University (The)		3.460	%		05/01/47		1,415,000		1,398,844
Leland Stanford Junior University (The)		2.413	%		06/01/50		3,450,000		2,895,145
Local Initiatives Support Corp.		4.649	%		03/01/37		1,500,000		1,618,965
Massachusetts Institute of Technology		3.959	%		07/01/38		1,500,000		1,589,206
President & Fellows of Harvard College		3.150	%		07/15/46		3,961,000		3,806,097
President & Fellows of Harvard College		2.517	%		10/15/50		1,300,000		1,115,618
Rockefeller Foundation (The)		2.492	%		10/01/50		300,000		250,412
Trustees of Princeton University (The)		2.516	%		07/01/50		5,150,000		4,344,743
University of Notre Dame, Series 2017		3.394	%		02/15/48		2,424,000		2,455,279

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund  

CORPORATE BONDS - 42.0% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
CONSUMER SERVICES - 4.6% (Continued)
Yale University		2.402	%		04/15/50	$	4,165,000	$	3,458,276
									32,096,440
CONTAINERS & PACKAGING - 0.4%
CCL Industries, Inc. (a)		3.050	%		06/01/30		1,750,000		1,642,984
Sonoco Products Co.		5.750	%		11/01/40		1,000,000		1,184,859
									2,827,843
DIVERSIFIED INDUSTRIALS - 0.2%
Illinois Tool Works, Inc.		3.900	%		09/01/42		1,000,000		1,024,853
ELECTRIC UTILITIES - 6.5%
Avangrid, Inc.		3.150	%		12/01/24		1,800,000		1,796,702
Avista Corp.		4.000	%		04/01/52		1,000,000		1,016,237
Caledonia Generating, LLC (a)		1.950	%		02/28/34		1,891,714		1,782,869
Consolidated Edison Co.		3.350	%		04/01/30		1,000,000		996,735
DTE Electric Co.		4.050	%		05/15/48		1,750,000		1,844,892
DTE Electric Co.		3.650	%		03/01/52		500,000		505,328
Duke Energy Carolinas, LLC		3.550	%		03/15/52		1,000,000		990,617
Duke Energy Progress NC Storm Funding, LLC, Series 2021A-3		2.799	%		07/01/41		2,000,000		1,824,629
Duke Energy Progress, LLC		3.450	%		03/15/29		1,750,000		1,753,445
Duke Energy Progress, LLC (b)		4.000	%		04/01/52		1,500,000		1,589,757
Electricite de France S.A. (a)(b)		3.625	%		10/13/25		1,250,000		1,252,397
Enel Finance International N.V. (a)		2.650	%		09/10/24		1,250,000		1,231,241
Florida Power & Light Co.		3.700	%		12/01/47		1,300,000		1,323,806
Florida Power & Light Co.		2.875	%		12/04/51		2,000,000		1,792,939
Georgia Power Co.		3.250	%		04/01/26		1,000,000		1,003,313
Interstate Power & Light Co.		3.600	%		04/01/29		1,250,000		1,248,789
Liberty Utilities Financial Services (a)		2.050	%		09/15/30		355,000		311,244
MidAmerican Energy Co.		3.950	%		08/01/47		1,750,000		1,818,046
Midland Cogeneration Venture, L.P. (a)		6.000	%		03/15/25		229,637		235,378
Narragansett Electric Co. (a)		3.395	%		04/09/30		1,500,000		1,474,507
National Rural Utilities		1.350	%		03/15/31		1,000,000		840,530
NextEra Energy Capital Holdings, Inc.		0.650	%		03/01/23		400,000		394,254
Niagara Mohawk Power Corp. (a)(b)		1.960	%		06/27/30		1,500,000		1,333,019
Northern States Power Co.		2.900	%		03/01/50		1,250,000		1,102,743
NSTAR Electric Co.		3.950	%		04/01/30		600,000		622,793

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund  

CORPORATE BONDS - 42.0% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
ELECTRIC UTILITIES - 6.5% (Continued)
NSTAR Electric Co.		5.500	%		03/15/40	$	1,250,000	$	1,514,958
Pacificorp		8.080	%		10/14/22		500,000		514,602
PG&E Energy Recovery Funding, LLC		2.822	%		07/15/46		1,000,000		894,484
Potomac Electric Power Co.		6.500	%		11/15/37		1,000,000		1,299,960
Public Service Co.		3.700	%		06/15/28		1,750,000		1,785,367
Puget Energy, Inc.		5.625	%		07/15/22		750,000		752,036
Puget Energy, Inc.		4.223	%		06/15/48		1,000,000		1,041,089
Rochester Gas & Electric Corp. (a)		1.850	%		12/01/30		500,000		441,923
San Diego Gas and Electric Co.		4.500	%		08/15/40		841,000		903,189
Solar Star Funding, LLC (a)		3.950	%		06/30/35		266,024		271,190
Solar Star Funding, LLC (a)		5.375	%		06/30/35		412,744		461,872
Southern California Edison		4.050	%		03/15/42		1,165,000		1,116,887
Tenaska Virginia Partners, L.P. (a)		6.119	%		03/30/24		338,734		344,637
Topaz Solar Farms, LLC (a)		4.875	%		09/30/39		236,008		249,578
Topaz Solar Farms, LLC (a)		5.750	%		09/30/39		568,221		622,202
Union Electric Co.		2.625	%		03/15/51		2,000,000		1,655,200
Westar Energy, Inc.		2.550	%		07/01/26		1,292,000		1,263,146
									45,218,530
ELECTRICAL EQUIPMENT - 0.3%
Johnson Controls International plc (b)		1.750	%		09/15/30		1,000,000		892,774
Legrand S.A.		8.500	%		02/15/25		1,000,000		1,145,005
Roper Technologies, Inc.		2.000	%		06/30/30		440,000		390,613
									2,428,392
ENTERTAINMENT CONTENT - 0.2%
Magallanes, Inc. (a)(b)		4.054	%		03/15/29		1,500,000		1,507,439
FOOD - 1.5%
Campbell Soup Co.		3.950	%		03/15/25		1,500,000		1,526,366
Cargill, Inc. (a)		4.760	%		11/23/45		1,500,000		1,709,348
General Mills, Inc. (b)		4.000	%		04/17/25		1,500,000		1,531,103
Hormel Foods Corp.		1.800	%		06/11/30		2,250,000		2,016,418
Ingredion, Inc.		2.900	%		06/01/30		1,000,000		941,565
Kellogg Co.		2.650	%		12/01/23		1,250,000		1,250,285
Mars, Inc. (a)		3.600	%		04/01/34		1,500,000		1,508,541
									10,483,626

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund  

CORPORATE BONDS - 42.0% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
FORESTRY, PAPER & WOOD PRODUCTS - 0.1%
Fibria Overseas Finance Ltd.		5.500	%		01/17/27	$	800,000	$	847,184
GAS & WATER UTILITIES - 0.4%
American Water Capital Corp.		2.800	%		05/01/30		1,500,000		1,436,994
Brooklyn Union Gas Co. (a)		4.504	%		03/10/46		1,250,000		1,254,751
Indiana Gas Co., Inc.		6.550	%		06/30/28		250,000		292,583
									2,984,328
HEALTH CARE FACILITIES & SERVICES - 0.2%
Kaiser Foundation Hospital		3.150	%		05/01/27		1,500,000		1,496,657
HOME & OFFICE PRODUCTS - 0.2%
Steelcase, Inc.		5.125	%		01/18/29		1,000,000		1,047,687
HOME CONSTRUCTION - 0.2%
NVR, Inc.		3.950	%		09/15/22		500,000		502,046
NVR, Inc.		3.000	%		05/15/30		1,000,000		933,333
									1,435,379
INSTITUTIONAL FINANCIAL SERVICES - 1.8%
Bank of New York Mellon Corp. (The)		3.400	%		05/15/24		650,000		660,856
Brookfield Finance, Inc. (b)		4.250	%		06/02/26		1,570,000		1,617,697
Citigroup, Inc.		2.014	%		01/25/26		1,000,000		962,679
Goldman Sachs Group, Inc. (b)		3.272	%		09/29/25		1,500,000		1,502,839
Goldman Sachs Group, Inc.		4.223	%		05/01/29		1,000,000		1,023,892
Goldman Sachs Group, Inc.		3.800	%		03/15/30		1,500,000		1,509,965
Morgan Stanley (b)		3.125	%		07/27/26		2,000,000		1,982,741
Morgan Stanley, Series GMTN		2.699	%		01/22/31		1,250,000		1,172,958
National Securities Clearing Corp. (a)(b)		1.500	%		04/23/25		1,000,000		957,524
State Street Corp.		7.350	%		06/15/26		1,000,000		1,160,012
									12,551,163
INSURANCE - 4.6%
Aflac, Inc.		4.000	%		10/15/46		1,058,000		1,069,216
Athene Global Funding (a)		2.800	%		05/26/23		1,500,000		1,500,110
First American Financial Corp.		2.400	%		08/15/31		1,500,000		1,313,235

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund  

CORPORATE BONDS - 42.0% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
INSURANCE - 4.6% (Continued)
Five Corners Funding Trust (a)		4.419	%		11/15/23	$	1,000,000	$	1,022,042
GA Global Funding Trust		2.250	%		01/06/27		2,000,000		1,867,008
Horace Mann Educators Corp. (b)		4.500	%		12/01/25		1,235,000		1,269,993
Jackson National Life Global Funding		1.750	%		01/12/25		385,000		368,681
Kemper Corp.		4.350	%		02/15/25		1,250,000		1,276,176
Marsh & McLennan Cos., Inc.		3.750	%		03/14/26		1,000,000		1,015,649
Massachusetts Mutual Life Insurance Co. (a)		3.375	%		04/15/50		1,500,000		1,347,450
Met Life Global Funding I (a)		1.950	%		01/13/23		500,000		500,062
Met Life Global Funding I (a)		3.600	%		01/11/24		1,750,000		1,775,352
New York Life Global Funding (a)		2.900	%		01/17/24		3,000,000		3,005,430
OneBeacon US Holdings, Inc.		4.600	%		11/09/22		1,000,000		1,010,938
Pacific Life Global Funding II (a)		1.200	%		06/24/25		415,000		388,466
Primerica, Inc.		2.800	%		11/19/31		1,000,000		922,531
Principal Financial Group, Inc.		3.700	%		05/15/29		1,250,000		1,278,547
Prudential Financial, Inc.		1.500	%		03/10/26		644,000		606,339
Prudential Financial, Inc.		5.875	%		09/15/42		750,000		755,625
Prudential plc (b)		3.125	%		04/14/30		750,000		726,707
Reliance STD Life Insurance Co. (a)		2.750	%		05/07/25		1,280,000		1,255,118
RLI Corp.		4.875	%		09/15/23		1,000,000		1,021,383
Sammons Financial Group, Inc. (a)		4.450	%		05/12/27		1,200,000		1,234,869
Security Benefit Global, Series MTN (a)		1.250	%		05/17/24		1,500,000		1,433,417
StanCorp Financial Group, Inc.		5.000	%		08/15/22		1,250,000		1,260,792
Teachers Insurance & Annuity Association (a)		4.375	%		09/15/54		2,678,000		2,683,646
Trustage Financial Group, Inc. (b)		4.625	%		04/15/32		250,000		250,847
									32,159,629
INTERNET MEDIA & SERVICES - 0.1%
Alphabet, Inc. (b)		0.450	%		08/15/25		890,000		830,333
LEISURE FACILITIES & SERVICES - 0.5%
Hyatt Hotels Corp.		3.375	%		07/15/23		1,000,000		1,000,830
Marriott International, Inc.		3.600	%		04/15/24		727,000		734,456
McDonald's Corp., Series MTN		3.500	%		07/01/27		1,000,000		1,016,348
Starbucks Corp. (b)		2.450	%		06/15/26		1,000,000		975,071
									3,726,705

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund  

CORPORATE BONDS - 42.0% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
MACHINERY - 0.5%
Ingersoll-Rand Global Holding Co. Ltd.		6.391	%		11/15/27	$	655,000	$	719,287
John Deere Capital Corp.		1.750	%		03/09/27		250,000		235,517
John Deere Capital Corp.		3.050	%		01/06/28		1,250,000		1,239,096
Xylem, Inc.		1.950	%		01/30/28		1,775,000		1,642,735
									3,836,635
MEDICAL EQUIPMENT & DEVICES - 0.4%
Agilent Technologies, Inc.		3.875	%		07/15/23		1,250,000		1,268,600
Alcon Finance Corp. (a)		2.600	%		05/27/30		1,250,000		1,150,930
									2,419,530
PERSONAL PRODUCTS - 0.1%
Estée Lauder Cos., Inc. (The) (b)		2.600	%		04/15/30		1,000,000		961,871
PIPELINES - 0.1%
Northern Natural Gas Co. (a)		4.100	%		09/15/42		1,000,000		1,015,547
REITS - 2.9%
Agree Ltd. Partnership		2.900	%		10/01/30		650,000		606,743
Alexandria Real Estate Equities, Inc. (b)		2.950	%		03/15/34		1,000,000		940,792
Boston Properties, L.P. (b)		4.500	%		12/01/28		1,250,000		1,318,345
Camden Property Trust		2.800	%		05/15/30		500,000		480,538
Duke Realty Trust, L.P.		2.875	%		11/15/29		1,500,000		1,437,912
ERP Operating, L.P.		4.150	%		12/01/28		1,250,000		1,292,384
ESSEX Portfolio, L.P.		2.650	%		03/15/32		1,500,000		1,372,065
Federal Realty Investment Trust		1.250	%		02/15/26		515,000		473,926
Kilroy Realty Corp.		2.500	%		11/15/32		1,750,000		1,520,998
Kimco Realty Corp.		2.700	%		10/01/30		1,750,000		1,639,431
Lexington Realty Trust		2.700	%		09/15/30		1,500,000		1,383,990
Mid-America Apartment Communities, Inc.		3.950	%		03/15/29		1,750,000		1,802,011
Ontario Teachers Cadillac Fairview Properties Trust (a)		2.500	%		10/15/31		1,125,000		1,029,582
Regency Centers, L.P.		3.750	%		06/15/24		1,000,000		1,011,332
Rexford Industrial Realty, L.P.		2.150	%		09/01/31		1,750,000		1,519,101
Sun Communities Operating Ltd.		2.700	%		07/15/31		500,000		451,068
UDR, Inc.		1.900	%		03/15/33		1,000,000		835,376
Vornado Realty, L.P.		3.500	%		01/15/25		567,000		564,723

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund  

CORPORATE BONDS - 42.0% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
REITS - 2.9% (Continued)
WP Carey, Inc.		2.450	%		02/01/32	$	985,000	$	870,209
									20,550,526
RETAIL - CONSUMER STAPLES - 0.2%
Kroger Co. (The)		5.000	%		04/15/42		1,000,000		1,109,469
Walmart, Inc.		1.800	%		09/22/31		500,000		454,841
									1,564,310
RETAIL - DISCRETIONARY - 0.5%
ERAC USA Finance, LLC (a)		2.700	%		11/01/23		1,250,000		1,248,621
Lowe's Cos., Inc.		4.650	%		04/15/42		1,000,000		1,076,744
Lowe's Cos., Inc. (b)		3.000	%		10/15/50		500,000		425,376
Lowe's Cos., Inc.		3.625	%		04/15/52		1,000,000		992,314
									3,743,055
SEMICONDUCTORS - 0.3%
Intel Corp.		3.734	%		12/08/47		1,361,000		1,359,306
NVIDIA Corp.		2.850	%		04/01/30		500,000		491,940
Skyworks Solutions, Inc.		0.900	%		06/01/23		500,000		488,839
									2,340,085
SOFTWARE - 0.4%
Microsoft Corp.		2.525	%		06/01/50		3,000,000		2,590,485
SPECIALTY FINANCE - 1.6%
American Express Credit Corp.		3.000	%		10/30/24		1,000,000		1,003,832
BlueHub Loan Fund, Inc.		3.099	%		01/01/30		1,030,000		1,013,928
Community Preservation Corp. (The)		2.867	%		02/01/30		1,750,000		1,707,743
F&G Global Funding		2.300	%		04/11/27		535,000		500,090
F&G Global Funding, Series 22-1A		2.720	%		01/18/47		1,318,279		1,244,126
Fidelity National Financial, Inc.		5.500	%		09/01/22		725,000		735,371
Fidelity National Financial, Inc. (b)		3.400	%		06/15/30		500,000		481,499
GATX Corp.		4.350	%		02/15/24		300,000		306,517
Low Income Investment Fund		3.386	%		07/01/26		115,000		114,891
USAA Capital Corp. (a)		1.500	%		05/01/23		1,000,000		990,684
USAA Capital Corp. (a)		2.125	%		05/01/30		3,000,000		2,766,076
									10,864,757
STEEL - 0.4%
Nucor Corp.		4.125	%		09/15/22		1,025,000		1,030,569
Nucor Corp.		2.000	%		06/01/25		460,000		445,273

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund  

CORPORATE BONDS - 42.0% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
STEEL - 0.4% (Continued)
Reliance Steel & Aluminum Co. (b)		4.500	%		04/15/23	$	1,105,000	$	1,126,994
									2,602,836
TECHNOLOGY HARDWARE - 0.7%
Apple, Inc.		2.850	%		02/23/23		1,250,000		1,260,401
Apple, Inc.		3.000	%		06/20/27		1,000,000		1,011,517
Apple, Inc.		2.650	%		05/11/50		1,000,000		871,013
Apple, Inc.		2.650	%		02/08/51		2,000,000		1,725,167
									4,868,098
TECHNOLOGY SERVICES - 1.2%
Experian Finance plc (a)(b)		2.750	%		03/08/30		635,000		602,618
Genpact Luxembourg S.A.R.L.		3.700	%		04/01/22		1,100,000		1,100,000
HP, Inc.		4.000	%		04/15/29		915,000		911,585
IBM Corp.		3.300	%		05/15/26		1,000,000		1,010,471
Moody's Corp.		3.250	%		05/20/50		500,000		447,029
Moody's Corp.		3.750	%		02/25/52		1,000,000		985,568
RELX Capital, Inc.		3.500	%		03/16/23		1,500,000		1,512,852
Visa, Inc. (b)		0.750	%		08/15/27		1,770,000		1,603,171
									8,173,294
TELECOMMUNICATIONS - 0.8%
AT&T, Inc.		5.250	%		03/01/37		500,000		568,351
AT&T, Inc.		4.750	%		05/15/46		1,500,000		1,629,124
Verizon Communications, Inc. (b)		3.875	%		02/08/29		1,000,000		1,040,340
Verizon Communications, Inc.		1.500	%		09/18/30		1,000,000		868,392
Verizon Communications, Inc.		2.987	%		10/30/56		1,799,000		1,480,728
									5,586,935
TRANSPORTATION & LOGISTICS - 1.3%
British Airways, Series 2013-1 (a)		4.625	%		12/20/25		370,671		372,454
Burlington Northern Santa Fe, LLC		5.750	%		05/01/40		1,000,000		1,246,154
Canadian Pacific Railway Co.		2.050	%		03/05/30		1,750,000		1,603,074
Mexico City Airport Trust (a)		4.250	%		10/31/26		497,000		491,414
Norfolk Southern Corp.		4.837	%		10/01/41		1,000,000		1,126,911
Norfolk Southern Corp.		3.050	%		05/15/50		1,500,000		1,336,129
Penske Truck Leasing Co. (a)		3.450	%		07/01/24		1,250,000		1,252,604
TTX Co. (a)		4.600	%		02/01/49		280,000		327,667
United Parcel Services, Inc.		3.900	%		04/01/25		1,500,000		1,544,782
									9,301,189

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund  

CORPORATE BONDS - 42.0% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
WHOLESALE - CONSUMER STAPLES - 0.3%
Bunge Ltd. Finance Corp.		1.630	%		08/17/25	$	395,000	$	374,147
Sysco Corp. (b)		2.400	%		02/15/30		1,750,000		1,627,373
									2,001,520
TOTAL CORPORATE BONDS (COST $301,352,762)								$	293,545,774
CORPORATE NOTES - 1.1%		Coupon			Maturity		Principal Amount		Fair Value
COMMUNITY DEVELOPMENT - 1.1%
Calvert Social Investment Foundation, Inc. (d)		2.000	%		06/15/22	$	980,000	$	980,000
Calvert Social Investment Foundation, Inc. (d)		0.400	%		12/15/22		500,000		500,000
Calvert Social Investment Foundation, Inc. (d)		3.000	%		06/15/23		1,650,000		1,650,000
Calvert Social Investment Foundation, Inc. (d)		3.000	%		12/15/23		950,000		950,000
Calvert Social Investment Foundation, Inc. (d)		1.000	%		06/14/24		550,000		521,092
Calvert Social Investment Foundation, Inc. (d)		3.000	%		06/17/24		980,000		980,000
Calvert Social Investment Foundation, Inc. (d)		3.000	%		12/15/24		400,000		400,000
Calvert Social Investment Foundation, Inc. (d)		2.500	%		06/13/25		1,400,000		1,344,127
Calvert Social Investment Foundation, Inc. (d)		2.500	%		12/15/25		650,000		650,000
TOTAL CORPORATE NOTES (COST $8,060,000)								$	7,975,219
FOREIGN GOVERNMENTS - 8.0%		Coupon			Maturity		Principal Amount		Fair Value
FOREIGN AGENCY - 0.9%
BNG Bank N.V. (a)(b)		1.500	%		10/16/24	$	1,500,000	$	1,461,909
BNG Bank N.V. (a)(b)		0.500	%		11/24/25		2,000,000		1,850,848
Kommunalbanken A.S. (a)		2.125	%		02/11/25		1,000,000		988,000
Kommunivest I Sverige AB, Series MTN (a)		0.375	%		06/19/24		500,000		477,440
Nederlandse Waterschapsbank N.V. (a)(b)		3.125	%		12/05/22		1,500,000		1,515,690
									6,293,887
SUPRANATIONAL - 7.1%
African Development Bank		0.750	%		04/03/23		5,000,000		4,942,609
Asian Development Bank		2.125	%		03/19/25		1,000,000		987,055
Asian Development Bank		3.125	%		09/26/28		1,000,000		1,035,150

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund  

FOREIGN GOVERNMENTS - 8.0% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
SUPRANATIONAL - 7.1% (Continued)
Central American Bank for Economic Integration (a)		1.140	%		02/09/26	$	1,200,000	$	1,116,636
European Bank for Reconstruction & Development		1.625	%		09/27/24		1,250,000		1,223,261
European Bank for Reconstruction & Development		1.500	%		02/13/25		200,000		193,923
European Investment Bank (b)		2.500	%		10/15/24		1,000,000		1,000,595
European Investment Bank (a)		2.875	%		06/13/25		1,000,000		1,009,280
European Investment Bank (b)		2.125	%		04/13/26		1,000,000		983,178
European Investment Bank		2.375	%		05/24/27		4,000,000		3,970,779
Inter-American Development Bank		0.875	%		04/03/25		3,000,000		2,853,719
Inter-American Development Bank		4.375	%		01/24/44		3,000,000		3,739,382
International Bank for Reconstruction & Development		0.250	%		11/24/23		7,000,000		6,773,745
International Bank for Reconstruction & Development		2.125	%		03/03/25		500,000		494,626
International Bank for Reconstruction & Development		0.625	%		04/22/25		1,000,000		943,243
International Bank for Reconstruction & Development		3.125	%		11/20/25		1,000,000		1,017,027
International Bank for Reconstruction & Development		0.875	%		07/15/26		3,000,000		2,808,289
International Development Association (a)		2.750	%		04/24/23		5,000,000		5,039,000
International Development Association (a)		0.375	%		09/23/25		2,000,000		1,850,720
International Development Association (a)(b)		0.875	%		04/28/26		2,000,000		1,876,089
International Finance Corp., Series GMTN		0.500	%		03/20/23		2,500,000		2,467,900
International Finance Corp., Series GMTN		2.125	%		04/07/26		3,000,000		2,954,204
									49,280,410
TOTAL FOREIGN GOVERNMENTS (COST $56,706,778)								$	55,574,297

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund  

COMMERCIAL MORTGAGE-BACKED SECURITIES - 0.1%	Coupon			Maturity		Principal Amount		Fair Value
Commercial Mortgage Pass-Through Certificates, Class A-3		2.853	%		10/17/45	$	993,930	$	995,544
ASSET BACKED SECURITIES - 3.4%		Coupon			Maturity		Principal Amount		Fair Value
Ahold Finance U.S.A., LLC		8.620	%		01/02/25	$	207,743	$	225,183
Beacon Container Finance II, LLC (a)		2.250	%		10/22/46		996,927		924,188
Cards II Trust (a)		0.602	%		04/15/27		2,250,000		2,148,619
DB Master Finance, LLC (a)		2.493	%		11/20/51		2,019,938		1,818,289
Iowa Student Loan Liquidity Corp. Rev.		1.730	%		08/25/70		1,348,395		1,250,231
Master Credit Card Trust II (a)		1.990	%		09/21/24		4,000,000		3,993,730
SBA Tower Trust (a)		3.448	%		03/15/48		1,250,000		1,250,176
SBA Tower Trust (a)		2.836	%		01/15/50		282,000		277,604
SolarCity LMC, Series I, LLC (a)(e)		4.800	%		12/20/26		344,700		346,637
Tesla Auto Lease Trust		0.600	%		09/22/25		1,200,000		1,158,641
Textainer Marine Containers VII Ltd. (a)		1.680	%		02/20/46		1,370,000		1,238,450
TIF Funding II, LLC (a)		1.650	%		02/20/46		454,792		408,262
Toyota Auto Receivables Owner Trust		0.260	%		11/17/25		3,000,000		2,909,673
Triton Container Finance VIII, LLC (a)		1.860	%		03/20/46		1,601,250		1,448,770
Triumph Rail, LLC (a)		2.150	%		06/19/51		2,006,945		1,863,613
Vantage Data Centers Issuer, LLC (a)		2.165	%		10/15/46		2,000,000		1,872,388
Wendy's Funding, LLC (a)		3.783	%		06/15/49		688,125		677,770
TOTAL ASSET BACKED SECURITIES (COST $25,139,655)								$	23,812,224
U.S. GOVERNMENT AGENCIES - 41.9%		Coupon			Maturity		Principal Amount		Fair Value
DEVELOPMENT FINANCE CORPORATION - 1.4%
DFC (PO)		0.000	%		06/21/23	$	1,000,000	$	1,068,290
DFC (c)		0.130	%		09/15/26		750,000		750,000
DFC		1.590	%		04/15/28		2,000,000		1,876,712
DFC		1.650	%		04/15/28		3,500,000		3,294,414
DFC		3.280	%		09/15/29		850,495		870,882
DFC		3.540	%		06/15/30		485,305		498,115
DFC		3.520	%		09/20/32		750,000		774,499

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund  

U.S. GOVERNMENT AGENCIES - 41.9% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
DEVELOPMENT FINANCE CORPORATION - 1.4% (Continued)
DFC		3.820	%		06/01/33	$	819,944	$	857,582
									9,990,494
FEDERAL HOME LOAN BANK - 4.8%
FHLB		3.250	%		11/16/28		8,500,000		8,888,842
FHLB		5.500	%		07/15/36		18,620,000		24,307,644
									33,196,486
FEDERAL HOME LOAN MORTGAGE CORPORATION - 11.3%
FHLMC		4.000	%		11/01/24		55,264		56,833
FHLMC		0.375	%		09/23/25		14,000,000		12,993,694
FHLMC		4.000	%		10/01/25		34,221		35,203
FHLMC		2.875	%		04/25/26		3,000,000		3,005,922
FHLMC		6.000	%		04/01/27		51,835		55,329
FHLMC		2.500	%		10/01/27		273,868		271,532
FHLMC		2.738	%		04/25/29		2,335,571		2,329,753
FHLMC		2.412	%		08/25/29		3,670,000		3,536,971
FHLMC		7.000	%		02/01/30		14,758		14,808
FHLMC		7.500	%		07/01/30		66,914		72,896
FHLMC		1.487	%		11/25/30		2,500,000		2,236,920
FHLMC		1.878	%		01/25/31		1,500,000		1,416,691
FHLMC		2.000	%		01/25/31		3,000,000		2,809,179
FHLMC		7.000	%		03/01/31		28,757		31,383
FHLMC		1.777	%		10/25/31		2,000,000		1,822,129
FHLMC		2.091	%		11/25/31		2,500,000		2,335,418
FHLMC		6.250	%		07/15/32		1,550,000		2,058,210
FHLMC		3.000	%		11/01/32		403,857		403,265
FHLMC		3.000	%		11/01/32		527,251		526,478
FHLMC		5.500	%		11/01/33		29,442		32,266
FHLMC (H15T1Y + 223.10) (c)		2.356	%		05/01/34		4,862		4,869
FHLMC (H15T1Y + 223.10) (c)		2.356	%		05/01/34		27,631		28,783
FHLMC		1.783	%		06/25/34		2,084,061		1,909,310
FHLMC		5.000	%		07/01/35		58,203		63,037
FHLMC		4.500	%		10/01/35		80,951		86,215
FHLMC		2.438	%		02/25/36		4,000,000		3,644,402
FHLMC		5.500	%		03/01/36		23,292		25,532
FHLMC		5.500	%		06/01/36		34,885		38,215

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund  

U.S. GOVERNMENT AGENCIES - 41.9% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
FEDERAL HOME LOAN MORTGAGE CORPORATION - 11.3% (Continued)
FHLMC		6.000	%		06/01/36	$	22,410	$	23,980
FHLMC		5.500	%		12/01/36		27,535		30,229
FHLMC		6.000	%		08/01/37		16,454		18,393
FHLMC		5.000	%		03/01/38		138,634		150,140
FHLMC		4.500	%		06/01/39		145,119		154,531
FHLMC		5.000	%		06/01/39		207,450		224,742
FHLMC		4.500	%		07/01/39		137,060		145,955
FHLMC		4.500	%		11/01/39		123,791		131,852
FHLMC		4.500	%		09/01/40		186,971		199,106
FHLMC		4.500	%		05/01/41		356,492		378,739
FHLMC		4.500	%		07/01/41		422,628		449,930
FHLMC		5.000	%		09/01/41		187,965		203,528
FHLMC		3.500	%		10/01/41		206,717		210,435
FHLMC		4.000	%		10/01/41		214,948		224,481
FHLMC		3.500	%		02/01/42		345,586		352,735
FHLMC		4.000	%		02/01/42		96,453		100,850
FHLMC		3.500	%		06/01/42		396,665		404,911
FHLMC		3.500	%		06/01/42		407,048		414,947
FHLMC		3.500	%		08/01/42		469,855		478,811
FHLMC		3.000	%		11/01/42		886,201		885,795
FHLMC		3.000	%		01/01/43		493,217		492,941
FHLMC		3.000	%		05/01/43		703,823		703,066
FHLMC		3.500	%		10/01/44		401,496		408,708
FHLMC		3.500	%		11/01/44		360,740		367,802
FHLMC		3.500	%		04/01/45		455,129		463,684
FHLMC		3.000	%		05/01/46		795,799		791,362
FHLMC		3.000	%		12/01/46		1,887,380		1,876,833
FHLMC		3.500	%		03/01/48		2,157,987		2,189,395
FHLMC		3.500	%		03/01/49		601,495		605,201
FHLMC		3.500	%		07/01/49		992,596		998,005
FHLMC		3.000	%		09/01/49		1,088,127		1,067,374
FHLMC		3.000	%		07/01/50		2,705,586		2,650,550
FHLMC		2.000	%		08/01/50		3,521,613		3,280,154
FHLMC		2.000	%		01/01/51		8,645,396		8,051,790

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund  

U.S. GOVERNMENT AGENCIES - 41.9% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
FEDERAL HOME LOAN MORTGAGE CORPORATION - 11.3% (Continued)
FHLMC		2.500	%		04/01/51	$	8,611,170	$	8,230,647
									79,206,845
FEDERAL NATIONAL MORTGAGE ASSOCIATION - 24.2%
FNMA		5.500	%		06/01/22		54		54
FNMA		2.890	%		07/01/22		2,198,441		2,196,430
FNMA		2.190	%		01/01/23		1,829,061		1,831,633
FNMA		2.670	%		12/01/23		2,261,656		2,259,325
FNMA (c)		2.554	%		07/25/24		2,807,195		2,802,263
FNMA		2.890	%		12/01/24		4,000,000		4,016,254
FNMA		3.080	%		12/01/24		2,160,773		2,175,314
FNMA		2.710	%		01/01/25		4,500,000		4,514,715
FNMA		5.000	%		04/01/25		25,351		26,765
FNMA		0.500	%		06/17/25		3,000,000		2,811,628
FNMA		5.000	%		07/01/25		20,229		21,272
FNMA		3.500	%		10/01/25		35,050		35,796
FNMA		5.000	%		10/01/25		29,257		30,767
FNMA		5.500	%		11/01/25		8		9
FNMA		0.500	%		11/07/25		12,000,000		11,171,792
FNMA		4.000	%		03/01/26		155,715		160,333
FNMA		2.910	%		04/01/26		3,000,000		2,988,390
FNMA		2.125	%		04/24/26		2,000,000		1,970,594
FNMA		2.254	%		07/25/26		445,983		431,901
FNMA		8.500	%		09/01/26		4,963		4,996
FNMA		2.500	%		09/01/27		326,278		323,283
FNMA		0.750	%		10/08/27		10,000,000		9,102,989
FNMA		2.500	%		11/01/27		507,013		502,356
FNMA		2.500	%		01/01/28		334,784		331,710
FNMA (c)		2.802	%		01/25/28		494,001		496,942
FNMA (c)		3.430	%		06/25/28		1,835,238		1,892,991
FNMA		2.522	%		08/25/29		5,799,005		5,707,897
FNMA		0.875	%		08/05/30		19,000,000		16,590,482
FNMA		6.625	%		11/15/30		12,750,000		16,710,108
FNMA (c)		1.561	%		11/25/30		3,000,000		2,691,387
FNMA (c)		1.383	%		12/25/30		5,000,000		4,456,245

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund  

U.S. GOVERNMENT AGENCIES - 41.9% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
FEDERAL NATIONAL MORTGAGE ASSOCIATION - 24.2% (Continued)
FNMA		1.250	%		01/25/31	$	3,000,000	$	2,634,102
FNMA		1.376	%		03/25/31		1,000,000		886,863
FNMA		2.000	%		01/01/32		1,367,430		1,333,264
FNMA		3.000	%		12/01/32		584,393		578,898
FNMA		6.000	%		10/01/33		20,218		22,263
FNMA		5.500	%		02/01/34		23,371		25,575
FNMA (H15T1Y + 211.70) (c)		2.242	%		05/01/34		26,839		27,782
FNMA		6.000	%		11/01/34		62,396		69,219
FNMA		5.500	%		01/01/35		32,574		35,643
FNMA		2.500	%		02/01/35		1,354,532		1,340,732
FNMA		5.000	%		10/01/35		53,467		57,816
FNMA		5.500	%		10/01/35		65,709		71,972
FNMA		6.000	%		10/01/35		35,838		39,709
FNMA		5.500	%		06/01/36		18,908		20,547
FNMA		6.000	%		06/01/36		16,469		18,370
FNMA		5.500	%		11/01/36		22,109		24,243
FNMA (12MO LIBOR + 156.50) (c)		1.940	%		05/01/37		2,159		2,206
FNMA		5.625	%		07/15/37		2,750,000		3,691,490
FNMA		4.500	%		09/01/40		111,552		118,298
FNMA		4.500	%		10/01/40		110,349		117,052
FNMA		4.000	%		12/01/40		291,707		304,776
FNMA		4.000	%		01/01/41		203,042		212,386
FNMA		3.500	%		02/01/41		299,147		305,072
FNMA		4.000	%		10/01/41		162,462		169,167
FNMA		4.000	%		11/01/41		170,303		177,333
FNMA		4.000	%		12/01/41		213,817		222,885
FNMA		4.000	%		12/01/41		355,770		370,801
FNMA		4.000	%		01/01/42		671,576		707,321
FNMA		3.500	%		05/01/42		339,406		345,637
FNMA		3.000	%		06/01/42		630,073		629,481
FNMA		3.000	%		08/01/42		459,772		459,342
FNMA		3.000	%		08/01/42		514,042		513,561
FNMA		3.500	%		12/01/42		712,779		727,065
FNMA		3.000	%		06/01/43		573,735		571,699
FNMA		4.000	%		12/01/44		814,105		849,557

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund  

U.S. GOVERNMENT AGENCIES - 41.9% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
FEDERAL NATIONAL MORTGAGE ASSOCIATION - 24.2% (Continued)
FNMA		3.500	%		05/01/45	$	932,859	$	950,537
FNMA		3.000	%		04/01/46		739,862		734,026
FNMA		3.500	%		11/01/46		1,246,352		1,269,736
FNMA		4.000	%		10/01/48		631,781		646,689
FNMA		4.000	%		11/01/48		1,490,473		1,584,093
FNMA		3.500	%		05/01/49		516,268		519,079
FNMA		4.000	%		06/01/49		811,576		829,484
FNMA		3.500	%		08/01/49		2,033,003		2,043,414
FNMA		3.000	%		09/01/49		1,044,888		1,024,445
FNMA		3.000	%		06/01/50		2,156,997		2,116,390
FNMA		2.500	%		07/01/50		3,358,033		3,210,775
FNMA		2.500	%		08/01/50		2,363,026		2,260,604
FNMA		3.000	%		08/01/50		3,814,931		3,742,764
FNMA		2.000	%		11/01/50		5,794,890		5,398,464
FNMA		2.000	%		01/01/51		10,370,506		9,659,823
FNMA		2.000	%		02/01/51		6,121,586		5,699,932
FNMA		2.500	%		04/01/51		11,658,396		11,142,293
									168,771,296
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION - 0.0% (f)
GNMA		7.000	%		12/20/30		9,681		10,508
GNMA		7.000	%		10/20/31		7,399		8,159
GNMA		7.000	%		03/20/32		30,932		34,269
GNMA (H15T1Y + 150) (c)		2.000	%		01/20/34		22,118		22,884
GNMA		5.500	%		10/20/38		5,243		5,503
GNMA		6.500	%		11/20/38		3,361		3,575
									84,898
SMALL BUSINESS ADMINISTRATION - 0.0% (f)
SBA (Prime - 2.65) (c)		0.600	%		02/25/32		107,487		108,490

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund

U.S. GOVERNMENT AGENCIES - 41.9% (Continued)	Coupon			Maturity		Principal Amount		Fair Value
UNITED STATES AGENCY OF INTERNATIONAL DEVELOPMENT - 0.2%
Hashemite Kingdom of Jordan AID Bond		3.000	%		06/30/25	$	1,450,000	$	1,466,359
TOTAL U.S. GOVERNMENT AGENCIES (COST $305,725,497)								$	292,824,868
MONEY MARKET FUNDS - 1.3%							Shares		Fair Value
First American Government Obligations Fund - Class X, 0.03% (g) (COST $8,864,979)							8,864,979	$	8,864,979
INVESTMENT PURCHASED WITH THE CASH PROCEEDS FROM SECURITIES LENDING - 5.1%							Shares		Fair Value
Mount Vernon Liquid Assets Portfolio, LLC, 0.41% (g)(h) (COST $35,825,363)							35,825,363	$	35,825,363
INVESTMENT COMPANIES - 0.5%							Shares		Fair Value
Pax High Yield Bond Fund - Institutional Class (COST $4,199,236)							530,984	$	3,430,155
TOTAL INVESTMENTS - (COST $755,270,278) - 104.5%								$	730,754,756
LIABILITIES IN EXCESS OF OTHER ASSETS - (4.5%)									(31,380,799	)
NET ASSETS - 100.0%								$	699,373,957

(a)	144a security may only be resold to qualified institutional investors. These securities were deemed liquid under guidelines established by the Board of Trustees. As of March 31, 2022, these securities were valued at $87,820,339 or 12.6% of net assets.
(b)	All or a portion of the security is on loan. The total fair value of the securities on loan as of March 31, 2022 was $35,126,411.
(c)	Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of March 31, 2022. 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.

^(d) Restricted and illiquid securities not registered under the Securities Act of 1933 are as follows:  

	Acquisition		Current		Fair		% of Net
	Date		Cost		Value		Assets
Calvert Social Investment Foundation, Inc.  2.000%, 06/15/22		06/17/19	$	980,000	$	980,000		0.1	%
Calvert Social Investment Foundation, Inc.  0.400%, 12/15/22		12/15/21		500,000		500,000		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 06/15/23		06/18/18		1,650,000		1,650,000		0.2	%
Calvert Social Investment Foundation, Inc.  3.000%, 12/15/23		12/17/18		950,000		950,000		0.1	%
Calvert Social Investment Foundation, Inc.  1.000%, 06/14/24		06/15/21		550,000		521,092		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 06/17/24		06/17/19		980,000		980,000		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 12/15/24		12/12/19		400,000		400,000		0.1	%
Calvert Social Investment Foundation, Inc.  2.500%, 06/13/25		06/12/20		1,400,000		1,344,127		0.2	%
Calvert Social Investment Foundation, Inc.  2.500%, 12/15/25		12/15/20		650,000		650,000		0.1	%
			$	8,060,000	$	7,975,219		1.1	%

(e)	Security value has been determined in good faith pursuant to procedures adopted by the Board of Trustees. The total fair value of such securities was $346,637 as of March 31, 2022, representing 0.0% (f) of net assets.
(f)	Percentage rounds to less than 0.1%.
(g)	The rate shown is the 7-day effective yield as of March 31, 2022.
(h)	The security was purchased with cash collateral received from securities on loan.

GMNT - 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

PO - Principal Only security with a redemption price above par

SOFR - Secured Overnight Financing Rate

Schedule of Portfolio Investments

Praxis International Index Fund

March 31, 2022 (Unaudited)

COMMON STOCKS - 98.2%	Shares		Fair Value
AUSTRALIA - 4.5%
ASX Ltd.		6,094	$	370,716
Australia & New Zealand Banking Group Ltd.		40,646		832,916
BlueScope Steel Ltd.		12,639		196,547
Brambles Ltd.		31,957		235,842
Coles Group Ltd.		20,682		276,437
Commonwealth Bank of Australia		14,733		1,160,313
CSL Ltd. - ADR		7,282		726,380
CSL Ltd.		3,640		726,733
Dexus		158,141		1,290,913
Fortescue Metals Group Ltd.		63,440		975,236
Goodman Group		44,189		751,094
GPT Group (The)		86,547		333,854
Macquarie Group Ltd. - ADR		2,747		412,929
Macquarie Group Ltd.		2,144		324,261
Mirvac Group		157,601		293,667
National Australia Bank Ltd.		36,653		882,458
REA Group Ltd.		2,913		292,040
Scentre Group		175,279		398,543
SEEK Ltd.		32,750		721,273
Sonic Healthcare Ltd.		7,195		189,973
Stockland		68,242		216,269
Transurban Group		154,802		1,564,185
Vicinity Centres		397,679		551,867
Wesfarmers Ltd.		24,534		920,671
Woodside Petroleum Ltd.		68,683		1,650,628
Woolworths Group Ltd.		28,598		794,056
				17,089,801
AUSTRIA - 0.4%
Raiffeisen Bank International AG		47,600		675,821
Verbund AG		8,891		938,984
				1,614,805
BELGIUM - 0.5%
KBC Group N.V. - ADR		1,592		57,137
KBC Group N.V.		12,601		904,167
UCB S.A.		5,691		680,668

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.2% (Continued)	Shares		Fair Value
BELGIUM - 0.5% (Continued)
Umicore S.A.		4,375	$	189,131
				1,831,103
BERMUDA - 0.4%
Credicorp Ltd.		5,427		932,739
Shenzhen International Holdings Ltd.		498,500		524,335
				1,457,074
BRAZIL - 1.8%
Banco Bradesco S.A. - ADR		221,098		1,025,895
Banco do Brasil S.A. - ADR		74,607		543,139
Banco Santander Brasil S.A. - ADR (a)		143,531		1,105,189
Cia Energética de Minas Gerais - ADR		73,373		236,261
Cia Siderurgica Nacional S.A. - ADR		92,182		499,626
Gerdau S.A. - ADR		79,331		510,098
Getnet Adquirencia e Servicos para Meios de Pagamento S.A. - ADR		7,516		11,650
Natura & Co. Holding S.A. - ADR (a)(b)		20,560		224,515
Sendas Distribuidora S.A. - ADR		17,197		295,444
Suzano S.A. - ADR (a)		45,067		523,679
Telefónica Brasil S.A. - ADR (a)		91,332		1,027,485
TIM S.A. - ADR		41,217		597,647
				6,600,628
CANADA - 8.1%
Bank of Montreal		15,739		1,856,730
Bank of Nova Scotia (The) (a)		24,281		1,741,433
Cameco Corp.		11,300		328,830
Canadian Imperial Bank of Commerce		12,264		1,492,406
Canadian National Railway Co.		15,841		2,124,912
Canadian Pacific Railway Ltd.		16,665		1,375,529
CGI, Inc. (b)		8,100		646,623
Franco-Nevada Corp.		12,761		2,035,635
Gildan Activewear, Inc. (a)		18,362		688,208
Manulife Financial Corp.		76,580		1,634,983
Methanex Corp.		15,712		857,247
Nutrien Ltd.		11,229		1,167,703
Open Text Corp.		11,725		497,140
Restaurant Brands International, Inc.		11,589		676,682

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.2% (Continued)	Shares		Fair Value
CANADA - 8.1% (Continued)
Royal Bank of Canada (a)		32,068	$	3,536,138
Shopify, Inc. - Class A (b)		1,369		925,389
Sun Life Financial, Inc.		17,330		967,534
Teck Resources Ltd. - Class B		44,613		1,801,919
Thomson Reuters Corp.		20,428		2,223,588
Toronto-Dominion Bank (The)		26,902		2,136,557
Wheaton Precious Metals Corp.		35,755		1,701,223
				30,416,409
CAYMAN ISLANDS - 4.9%
360 Finance, Inc. - ADR (b)		8,832		135,924
51job, Inc. - ADR (a)(b)		3,969		232,385
Alibaba Group Holding Ltd. - ADR (b)		24,492		2,664,730
Autohome, Inc. - ADR		2,537		77,150
Baidu, Inc. - ADR (b)		5,844		773,161
China Literature Ltd. (b)		71,400		292,414
China Mengniu Dairy Co. Ltd.		58,000		310,962
Daqo New Energy Corp. - ADR (b)		1,141		47,146
ENN Energy Holdings Ltd.		21,000		313,655
GDS Holdings Ltd. - ADR (a)(b)		7,304		286,682
Genscript Biotech Corp. (b)		112,000		351,344
Hello Group, Inc. - ADR		18,942		109,485
Hengan International Group Co. Ltd.		99,000		456,171
JD.com, Inc. - ADR (b)		11,792		682,403
JOYY, Inc. - ADR (a)		3,990		146,553
Kingboard Holdings Ltd.		41,000		197,749
Kingdee International Software Group Co. Ltd. (b)		100,000		219,093
Li Auto, Inc. - Class A (b)		8,962		231,309
Meituan - ADR (b)		24,846		943,154
NetEase, Inc. - ADR (a)		13,759		1,234,045
New Oriental Education & Technology Group, Inc. - ADR (b)		122,477		140,848
NIO, Inc. - ADR (a)(b)		17,995		378,795
Noah Holdings Ltd. - ADR (b)		6,771		159,322
Shenzhou International Group Holdings Ltd.		48,000		633,699
Sunny Optical Technology Group Co. Ltd.		21,900		347,802
TAL Education Group - ADR (a)(b)		61,874		186,241
Tencent Holdings Ltd. - ADR (a)		89,337		4,147,023

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.2% (Continued)	Shares		Fair Value
CAYMAN ISLANDS - 4.9% (Continued)
Tingyi Cayman Islands Holding Corp.		172,000	$	288,418
Trip.com Group Ltd. - ADR (b)		19,303		446,285
Vipshop Holdings Ltd. - ADR (b)		21,137		190,233
VNET Group, Inc. - ADR (a)(b)		23,314		135,921
WuXi Biologics Cayman, Inc. (b)		130,072		1,032,853
XPeng, Inc. - ADR (b)		3,834		105,780
ZTO Express Cayman, Inc. - ADR (a)		19,738		493,450
				18,392,185
CHILE - 0.3%
Enel Americas S.A. - ADR (a)		53,811		321,252
Sociedad Quimica y Minera de Chile S.A. - ADR		10,597		907,103
				1,228,355
CHINA - 2.8%
Agricultural Bank of China Ltd. - H Shares		1,583,000		605,156
ANTA Sports Products Ltd.		50,400		625,214
Bank of China Ltd. - H Shares		1,903,000		759,405
BYD Co. Ltd. - H Shares		12,500		347,692
China Life Insurance Co. Ltd. - H Shares		376,000		572,847
China Merchants Bank Co. Ltd. - H Shares		82,820		644,708
China Pacific Insurance Group Co. Ltd. - H Shares		100,200		242,435
China Resources Land Ltd.		134,000		620,441
China Vanke Co. Ltd. - H Shares		244,874		550,791
COSCO SHIPPING Holdings Co. Ltd. - H Shares (b)		87,500		152,586
Haier Smart Home Co. Ltd. - H Shares		241,230		771,331
Huatai Securities Co. Ltd. - H Shares		117,400		179,658
Industrial & Commercial Bank of China Ltd. - H Shares		1,118,000		685,394
iQIYI, Inc. - ADR (a)(b)		35,550		161,397
Jiangsu Expressway Co. Ltd. - H Shares		510,000		532,619
New World Development Co. Ltd.		72,768		295,231
Ping An Insurance Group Co. of China Ltd. - H Shares		254,818		1,781,454
Sinopharm Group Co. Ltd. - H Shares		427,200		969,769
TravelSky Technology Ltd. - H Shares		111,000		159,235
				10,657,363
COLOMBIA - 0.4%
Bancolombia S.A. - ADR		32,931		1,404,836

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.2% (Continued)	Shares		Fair Value
DENMARK - 1.9%
A.P. Moller-Maersk A/S - Series B		131	$	393,721
Chr. Hansen Holding A/S		1,812		133,074
Coloplast A/S - Series B		3,561		539,369
DSV A/S		4,551		872,382
Genmab A/S (b)		932		336,655
Novo Nordisk A/S - ADR		30,237		3,357,819
Novozymes A/S - Class B		3,368		231,951
Orsted A/S (b)		3,039		380,465
Pandora A/S		2,532		241,253
Vestas Wind Systems A/S		21,015		616,582
				7,103,271
FINLAND - 0.5%
Neste OYJ		16,349		745,448
Nokia Corp. - ADR (b)		120,955		660,414
UPM-Kymmene OYJ		20,395		666,040
				2,071,902
FRANCE - 6.4%
Aeroports de Paris (b)		1,860		278,158
Air Liquide S.A. - ADR		1,207		42,197
Air Liquide S.A.		8,844		1,547,298
Alstom S.A. - ADR		41,500		95,450
Alstom S.A.		3,311		77,478
AXA S.A. - ADR		7,561		220,554
AXA S.A.		56,866		1,664,815
Bollore S.A.		82,440		431,718
Capgemini SE - ADR		6,425		285,527
Capgemini SE		2,481		550,575
Carrefour S.A.		14,741		320,814
Cie Generale des Etablissements Michelin SCA - ADR		18,110		489,332
Cie Generale des Etablissements Michelin SCA		4,519		612,432
CNP Assurances		24,456		588,801
Covivio		5,514		438,853
Danone S.A. - ADR		54,195		598,313
Danone S.A.		8,808		486,610
Dassault Systemes SE - ADR		3,725		183,717
Dassault Systemes SE		15,295		751,468

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.2% (Continued)	Shares		Fair Value
FRANCE - 6.4% (Continued)
EssilorLuxottica S.A.		4,430	$	810,255
Eurofins Scientific SE		2,307		228,229
Faurecia SE		3,770		98,059
Getlink SE		32,859		591,815
Groupe Bruxelles Lambert S.A.		6,989		723,240
Henkel AG & Co. KGaA		1,633		107,792
Hermes International		830		1,174,809
Kering S.A.		1,378		870,022
Klepierre S.A.		15,984		425,586
Legrand S.A.		10,029		953,580
L'Oreal S.A. - ADR		21,745		1,742,644
L'Oreal S.A.		1,380		551,268
Publicis Groupe S.A.		8,339		506,155
Sartorius Sedim Biotech		1,319		540,051
Schneider Electric SE		9,145		1,535,450
Societe Generale S.A.		15,878		425,673
Solvay S.A.		2,892		285,040
Teleperformance		1,454		553,860
Ubisoft Entertainment S.A. (b)		1,204		52,910
Unibail-Rodamco-Westfield (b)		5,251		393,362
Unibail-Rodamco-Westfield - CDI (b)		45,646		170,860
Valeo		31,499		581,852
Vivendi SE - ADR		5,023		65,199
Vivendi SE		17,630		230,342
Wendel SE		6,535		665,525
Worldline S.A. (b)		6,762		293,490
				24,241,178
GERMANY - 4.3%
adidas AG - ADR		2,402		280,602
adidas AG		1,323		308,312
Allianz SE - ADR		76,050		1,808,469
Allianz SE		880		210,164
BASF SE		5,195		296,448
Bayerische Moteren Werke AG - ADR		2		58
Continental AG - ADR (b)		7,120		50,979
Continental AG (b)		6,863		492,013

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.2% (Continued)	Shares		Fair Value
GERMANY - 4.3% (Continued)
Covestro AG		7,156	$	360,365
Daimler Truck Holding AG (b)		9,334		258,894
Deutsche Boerse AG		5,016		902,989
Deutsche Post AG - ADR		14,832		709,415
Deutsche Post AG		10,161		485,236
Deutsche Telekom AG - ADR		30,009		558,768
Deutsche Telekom AG		25,629		477,347
Fast Retailing Co. Ltd. - ADR		1,220		62,623
Fraport AG Frankfurt Airport Services Worldwide (b)		7,950		440,722
Henkel AG & Co. KGaA - ADR		11,920		193,700
Infineon Technologies AG - ADR		12,109		411,343
Infineon Technologies AG		8,718		294,948
Mercedes-Benz Group AG		18,669		1,310,448
Merck KGaA		2,316		483,690
Muenchener Rueckversicherungs-Gesellschaft AG - ADR		18,890		502,852
Muenchener Rueckversicherungs-Gesellschaft AG		1,787		477,765
RWE AG		5,116		222,777
Sartorius AG		493		217,596
Siemens AG		10,943		1,515,340
Symrise AG		4,190		502,381
Telefonica Deutschland Holding AG		166,204		452,068
Vitesco Technologies Group AG (b)		973		38,601
Vonovia SE		35,563		1,657,707
Zalando SE (b)		6,837		346,207
				16,330,827
HONG KONG - 2.2%
AAC Technologies Holdings, Inc.		103,000		244,776
AIA Group Ltd. - ADR		35,313		1,477,496
AIA Group Ltd.		57,569		601,130
Hang Seng Bank Ltd.		26,900		517,362
Hong Kong Exchanges & Clearing Ltd.		26,978		1,264,552
Lenovo Group Ltd.		562,000		608,792
Link REIT		95,500		813,302
New China Life Insurance Co. Ltd. - H Shares		87,400		242,418
Shandong Weigao Group Medical Polymer Co. Ltd. - H Shares		132,000		140,200
Sino Land Co. Ltd.		144,000		185,676

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.2% (Continued)	Shares		Fair Value
HONG KONG - 2.2% (Continued)
Swire Properties Ltd.		206,350	$	509,934
Techtronic Industries Co. Ltd.		24,500		392,527
Wharf Holdings Ltd. (The)		166,000		505,621
Zhongsheng Group Holdings Ltd.		86,000		604,687
				8,108,473
INDIA - 3.0%
HDFC Bank Ltd. - ADR		30,589		1,876,023
ICICI Bank Ltd. - ADR		144,722		2,741,035
Infosys Ltd. - ADR		160,710		4,000,072
Wipro Ltd. - ADR		363,009		2,798,799
				11,415,929
INDONESIA - 0.7%
Bank Mandiri Persero Tbk PT - ADR		87,101		955,498
Telkom Indonesia Persero Tbk PT - ADR		50,040		1,598,778
				2,554,276
IRELAND - 0.4%
CRH plc - ADR (a)		14,500		580,870
Kingspan Group plc		2,206		215,642
Smurfit Kappa Group plc		14,247		632,853
				1,429,365
ISRAEL - 0.5%
Check Point Software Technologies Ltd. (b)		4,473		618,437
CyberArk Software Ltd. (b)		2,299		387,956
ICL Group Ltd. (a)		33,089		399,384
Nice Ltd. - ADR (b)		2,630		575,970
				1,981,747
ITALY - 1.5%
Assicurazioni Generali S.p.A.		41,464		948,429
Enel S.p.A.		97,377		650,202
Intesa Sanpaolo S.p.A.		437,287		1,000,908
Mediobanca Banca di Credito Finanziario S.p.A.		29,677		299,919
Moncler S.p.A.		7,061		391,781
Poste Italiane S.p.A.		60,428		685,332
Terna - Rete Elettrica Nazionale		134,579		1,155,738
UniCredit S.p.A.		52,597		567,438
				5,699,747

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.2% (Continued)	Shares		Fair Value
JAPAN - 14.3%
Advantest Corp.		4,800	$	374,801
Aeon Co. Ltd.		7,900		168,469
AGC, Inc.		10,000		399,603
Asahi Kasei Corp.		50,000		432,530
Azbil Corp.		3,900		129,456
Bandai Namco Holdings, Inc.		2,300		175,573
Bridgestone Corp.		28,756		1,116,324
Brothers Industries Ltd.		13,900		252,808
Chiba Bank Ltd. (The)		28,700		168,769
Chugai Pharmaceutical Co. Ltd.		14,700		490,576
CyberAgent, Inc.		13,700		169,553
Dai Nippon Printing Co. Ltd.		55,018		1,290,065
Dai-ichi Life Holdings, Inc.		16,346		332,205
Daiichi Sankyo Co. Ltd. - ADR (a)		5,703		124,211
Daiichi Sankyo Co. Ltd.		23,430		511,704
Daiwa House Industry Co. Ltd.		30,000		782,157
Denso Corp.		10,000		638,080
Dentsu Group, Inc.		4,300		175,747
East Japan Railway Co.		5,729		331,621
ENEOS Holdings, Inc.		167,700		627,062
FANUC Corp. - ADR		10,090		177,080
FANUC Corp.		800		140,425
Fast Retailing Co. Ltd.		1,000		512,720
FUJIFILM Holdings Corp. - ADR		8,601		525,951
FUJIFILM Holdings Corp.		1,500		91,571
Fujitsu Ltd.		4,868		729,442
Futu Holdings Ltd. - ADR (a)(b)		4,235		137,892
Honda Motor Co. Ltd.		17,400		493,278
Hoya Corp. - ADR		1,273		145,020
Hoya Corp.		6,861		781,961
Ibiden Co., Ltd.		4,600		224,287
Japan Exchange Group, Inc.		20,800		386,260
JFE Holdings, Inc.		12,400		173,549
Kao Corp.		35,200		1,437,416
KDDI Corp. - ADR		43,814		715,483
Keyence Corp.		3,600		1,669,535

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.2% (Continued)	Shares		Fair Value
JAPAN - 14.3% (Continued)
Kintetsu Group Holdings Co. Ltd.		10,728	$	307,126
Kubota Corp. - ADR		7,274		682,592
Kubota Corp.		24,000		449,918
Lixil Corp.		15,100		281,133
M3, Inc.		2,400		86,689
Medipal Holdings Corp.		9,900		162,916
Mitsubishi Corp.		38,500		1,444,958
Mitsubishi UFJ Financial Group, Inc. - ADR		25,008		154,800
Mitsubishi UFJ Financial Group, Inc.		317,209		1,960,955
Mitsui & Co. Ltd. - ADR		1,204		657,384
Mitsui & Co. Ltd.		27,090		735,455
Mitsui Chemicals, Inc.		7,100		178,513
Mitsui OSK Lines Ltd.		29,700		825,132
Mizuho Financial Group, Inc.		65,200		831,753
Murata Manufacturing Co. Ltd. - ADR		916		15,123
Murata Manufacturing Co. Ltd.		12,900		849,864
Nexon Co. Ltd.		13,700		327,795
Nidec Corp. - ADR (a)		34,780		688,644
Nintendo Co. Ltd. - ADR		14,840		933,584
Nintendo Co. Ltd.		300		151,447
Nippon Building Fund, Inc. (b)		33		187,226
Nippon Prologis REIT, Inc.		175		511,037
Nippon Steel Corp.		9,800		172,939
Nippon Telegraph & Telephone Corp.		12,900		374,842
Nippon Yusen KK		4,600		402,432
Nippon Yusen KK		2,700		185,515
Nitori Holdings Co. Ltd.		1,100		138,411
Nomura Holdings, Inc. - ADR		47,702		201,302
Nomura Research Institute Ltd.		10,200		332,839
Odakyu Electric Railway Co. Ltd.		10,400		172,399
Omron Corp.		3,200		212,982
Oriental Land Co. Ltd.		2,960		566,630
Pan Pacific International Holdings Corp.		10,900		174,427
Persol Holdings Co. Ltd.		8,000		181,655
Pinduoduo, Inc. - ADR (b)		5,750		230,633
Recruit Holdings Co. Ltd.		20,050		871,221

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.2% (Continued)	Shares		Fair Value
JAPAN - 14.3% (Continued)
Ricoh Co. Ltd.		25,500	$	220,851
Ryohin Keikaku Co. Ltd.		12,400		143,848
Secom Co. Ltd.		2,700		195,347
Seiko Epson Corp.		30,300		455,250
Sekisui House Ltd. - ADR		21,690		420,786
Sekisui House Ltd.		8,000		154,764
Seven & i Holdings Co. Ltd.		18,900		901,210
Shimadzu Corp.		17,000		584,779
Shimano, Inc.		2,084		477,312
Shin-Etsu Chemical Co. Ltd.		6,100		926,908
Shionogi & Co. Ltd.		3,400		208,933
Shiseido Co. Ltd. - ADR		7,565		382,033
Shiseido Co. Ltd.		2,100		106,081
SMC Corp.		678		379,045
SoftBank Corp.		33,205		387,321
SoftBank Group Corp. - ADR		12,750		284,453
SoftBank Group Corp.		13,000		581,297
Sony Group Corp. - ADR		23,139		2,376,607
Sumitomo Corp.		23,254		402,778
Sumitomo Metal Mining Co. Ltd.		8,000		405,359
Sumitomo Mitsui Trust Holdings, Inc.		19,600		637,954
Suntory Beverage & Food Ltd.		12,200		465,062
Takeda Pharmaceutical Co. Ltd. - ADR		17,704		253,521
Takeda Pharmaceutical Co. Ltd.		26,800		763,686
TDK Corp.		6,300		227,314
Terumo Corp.		10,972		332,037
Toho Co. Ltd.		4,100		154,957
Tokyo Electron Ltd. - ADR		1,464		188,095
Tokyo Electron Ltd.		1,900		975,886
Tokyu Corp.		42,700		554,055
Toppan, Inc.		55,900		986,195
Toray Industries, Inc.		50,000		260,010
TOTO Ltd.		4,700		188,778
Toyota Motor Corp. - ADR		11,838		2,133,800
USS Co. Ltd.		31,120		522,994
Yamaha Corp.		10,900		473,730

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.2% (Continued)	Shares		Fair Value
JAPAN - 14.3% (Continued)
Yamaha Motor Co. Ltd.		27,700	$	620,936
Yokogawa Electric Corp.		26,800		456,688
				53,866,115
JERSEY - 0.9%
Experian plc - ADR		11,145		429,417
Ferguson plc		508		68,822
Ferguson plc		5,680		761,801
Glencore plc		248,450		1,616,545
WPP plc - ADR (a)		1,188		77,766
WPP plc		34,966		457,625
				3,411,976
LUXEMBOURG - 0.0% (c)
ArcelorMittal S.A. - ADR		5,428		173,750
MEXICO - 1.3%
América Móvil S.A.B. de C.V. - Class L - ADR		16,903		357,499
Coca-Cola Femsa S.A.B. de C.V. - ADR		12,760		701,162
Fomento Economico Mexicano S.A.B. de C.V. - ADR		12,658		1,048,715
Grupo Aeroportuario del Pacifico S.A.B. de C.V. - ADR (a)		2,661		429,033
Grupo Aeroportuario del Sureste S.A.B. de C.V. - ADR		2,464		546,022
Grupo Televisa S.A.B. - ADR (a)		39,194		458,570
Wal-Mart de Mexico S.A.B. de C.V. - ADR		32,608		1,337,906
				4,878,907
NETHERLANDS - 3.1%
ABN AMRO Bank N.V. (b)		21,591		275,730
Adyen N.V. (b)		349		691,304
AEGON N.V.		48,989		259,152
Akzo Nobel N.V. - ADR		9,200		263,396
ASML Holding N.V. - ADR		6,611		4,415,685
Exor N.V.		840		63,860
ING Groep N.V. - ADR		40,673		424,219
ING Groep N.V.		16,762		175,022
Koninklijke Ahold Delhaize N.V. - ADR (a)		24,466		788,050
Koninklijke Ahold Delhaize N.V.		5,491		176,632
Koninklijke DSM N.V.		4,332		775,015
Koninklijke Philips N.V. - ADR		16,004		488,602

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.2% (Continued)	Shares		Fair Value
NETHERLANDS - 3.1% (Continued)
NN Group N.V.		5,475	$	277,483
Prosus N.V.		10,052		542,116
QIAGEN N.V. (b)		7,847		384,503
Stellantis N.V.		42,053		682,673
STMicroelectronics N.V. - ADR		14,434		623,837
Wolters Kluwer N.V.		5,108		544,579
				11,851,858
NORWAY - 1.9%
Aker BP ASA (b)		2,503		93,379
Equinor ASA - ADR		158,981		5,963,378
Norsk Hydro ASA		112,833		1,096,507
				7,153,264
PHILIPPINES - 0.3%
PLDT, Inc. - ADR (a)		26,933		946,426
PORTUGAL - 0.4%
Galp Energia SGPS S.A.		109,153		1,380,071
Jeronimo Martins SGPS S.A.		8,104		194,426
				1,574,497
RUSSIA - 0.0% (c)
Mobile TeleSystems PJSC - ADR (d)(e)		86,910		869
SINGAPORE - 1.5%
Ascendas Real Estate Investment Trust		167,800		361,591
BOC Aviation Ltd.		87,700		688,897
CapitaLand Integrated Commercial Trust		387,425		640,952
CapitaLand Investment Ltd.		183,000		536,219
City Developments Ltd.		181,300		1,048,076
DBS Group Holdings Ltd. - ADR		11,392		1,187,730
Singapore Telecommunications Ltd.		216,000		420,745
Venture Corp. Ltd.		63,900		823,507
				5,707,717
SOUTH AFRICA - 1.2%
FirstRand Ltd.		201,574		1,063,657
Gold Fields Ltd. - ADR (a)		14,088		217,800
Impala Platinum Holdings Ltd. - ADR		34,408		535,733

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.2% (Continued)	Shares		Fair Value
SOUTH AFRICA - 1.2% (Continued)
Mr Price Group Ltd.		43,236	$	638,204
MTN Group Ltd.		24,549		317,558
MultiChoice Group Ltd.		72,496		653,369
Naspers Ltd. - Class N - ADR		19,030		429,507
Standard Bank Group Ltd.		44,968		558,530
				4,414,358
SOUTH KOREA - 4.4%
Celltrion, Inc.		4,338		612,394
Hyundai Mobis Co. Ltd.		5,210		916,149
Hyundai Motor Co.		2,200		323,842
KB Financial Group, Inc. - ADR		27,719		1,353,519
KT Corp. - ADR		39,515		566,645
LG Chem Ltd.		1,363		594,213
LG Display Co. Ltd. - ADR (b)		3		25
NAVER Corp.		4,020		1,114,700
POSCO Holdings, Inc. - ADR		16,598		983,763
Samsung Electronics Co. Ltd.		93,969		5,364,793
Shinhan Financial Group Co. Ltd. - ADR		31,408		1,049,969
Shinhan Financial Group Co. Ltd.		11,989		406,313
SK Hynix, Inc.		13,491		1,294,832
SK Telecom Co. Ltd. - ADR		19,898		509,986
Woori Financial Group, Inc. - ADR		38,936		1,466,330
				16,557,473
SPAIN - 1.8%
Aena SME S.A. (b)		4,174		695,849
Amadeus IT Group S.A. (b)		8,543		555,483
Banco Bilbao Vizcaya Argentaria S.A.		28,273		160,873
Banco Santander S.A.		79,125		269,036
Cellnex Telecom S.A. - ADR (a)		10,780		259,906
Iberdrola S.A. - ADR (a)		17,047		744,272
Iberdrola S.A.		29,928		327,132
Industria de Diseno Textil S.A.		19,609		427,600
Naturgy Energy Group S.A.		12,657		379,220
Repsol S.A.		157,333		2,061,062
Siemens Gamesa Renewable Energy S.A. (b)		11,865		208,116
Telefónica S.A. - ADR		34,242		164,362

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.2% (Continued)	Shares		Fair Value
SPAIN - 1.8% (Continued)
Telefónica S.A.		98,803	$	478,854
				6,731,765
SWEDEN - 2.1%
Assa Abloy AB - Class B		7,863		211,305
Atlas Copco AB - A Shares		8,922		462,998
Atlas Copco AB - Class A - ADR		10,074		522,840
Boliden AB		25,785		1,300,428
Essity AB - Series B		12,219		288,290
H & M Hennes & Mauritz AB - B Shares		19,185		257,550
Hexagon AB - B Shares		58,429		818,447
Lundin Energy AB		30,924		1,297,707
Svenska Cellulosa AB S.C.A. - B - Series B		16,418		318,726
Svenska Handelsbanken AB (b)		76,005		1,651,072
Svenska Handelsbanken AB - A Shares		31,343		288,146
Telefonaktiebolaget LM Ericsson - B Shares		42,832		390,346
				7,807,855
SWITZERLAND - 6.8%
ABB Ltd. - ADR (a)		39,077		1,263,750
Adecco Group AG		9,669		438,601
Barry Callebaut AG		553		1,296,482
Coca-Cola HBC AG		20,905		435,980
Geberit AG		1,604		988,796
Givaudan S.A.		272		1,124,159
Groupe Bruxelles Lambert S.A.		2,460		256,880
Holcim Ltd.		8,532		414,969
Keuhne + Nagel International AG		643		182,566
Logitech International S.A.		5,031		371,187
Lonza Group AG - ADR		4,540		329,105
Lonza Group AG		2,382		1,726,007
Nestlé S.A. - ADR		37,439		4,870,814
Nestlé S.A.		4,022		522,935
Partners Group Holding AG		644		797,403
Roche Holding AG - ADR		89,624		4,428,322
Roche Holding AG		1,749		692,013
Sika AG		852		281,887
Sonova Holding AG		1,171		489,172

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.2% (Continued)	Shares		Fair Value
SWITZERLAND - 6.8% (Continued)
Swatch Group AG (The)		707	$	200,451
Swiss Re AG		7,493		713,288
Swisscom AG		1,612		968,500
Temenos AG		5,377		517,212
UBS Group AG		39,428		770,475
UBS Group AG		2		39
Zurich Insurance Group AG - ADR		24,700		1,215,734
Zurich Insurance Group AG		492		242,999
				25,539,726
TAIWAN - 4.8%
ASE Technology Holding Co. Ltd. - ADR (a)		126,937		899,983
AU Optronics Corp. - ADR		144,653		1,002,445
Chunghwa Telecom Co. Ltd. - ADR		132,532		5,891,048
Taiwan Semiconductor Manufacturing Co. Ltd. - ADR		89,014		9,280,600
United Microelectronics Corp. - ADR (a)		114,499		1,044,231
				18,118,307
TURKEY - 0.0% (c)
Turkcell Iletisim Hizmetleri A.S. - ADR		1		4
UNITED KINGDOM - 7.9%
3i Group plc		68,813		1,244,266
Antofagasta plc		47,452		1,030,743
Ashtead Group plc		11,037		694,918
AstraZeneca plc - ADR		46,596		3,091,179
Aviva plc		71,300		421,864
Barratt Developments plc		28,635		194,936
British Land Co. plc (The)		62,287		431,091
BT Group plc		130,919		312,142
Burberry Group plc		13,434		293,251
Coca-Cola Europacific Partners plc		9,216		447,990
Compass Group plc		35,682		767,858
GlaxoSmithKline plc - ADR (a)		42,461		1,849,601
Halma plc		17,839		583,624
HSBC Holdings plc - ADR (a)		50,405		1,724,859
HSBC Holdings plc		27,340		186,742
Informa plc (b)		99,047		776,012

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.2% (Continued)	Shares		Fair Value
UNITED KINGDOM - 7.9% (Continued)
ITV plc (b)		307,997	$	329,617
J Sainsbury plc		86,209		285,325
Kingfisher plc		106,863		356,661
Land Securities Group plc		37,958		389,331
Legal & General Group plc		210,040		744,652
Lloyds Banking Group plc		437,921		266,644
London Stock Exchange Group plc		7,929		826,817
Mondi plc		48,272		938,277
National Grid plc - ADR (a)		5,768		443,386
National Grid plc		35,023		538,225
NatWest Group plc		172,577		487,402
PEARSON plc - ADR (a)		44,436		443,027
PEARSON plc		29,189		286,114
Prudential plc - ADR (a)		16,409		485,378
Reckitt Benckiser Group plc - ADR		34,350		530,364
Reckitt Benckiser Group plc		3,212		245,023
RELX plc - ADR		19,899		618,859
RELX plc		51,880		1,614,342
Rentokil Initial plc		56,496		389,160
Sage Group plc (The) - ADR		2,320		85,376
Sage Group plc (The)		33,781		309,516
Segro plc		65,385		1,148,946
Severn Trent plc		7,033		283,452
Tesco plc - ADR		5,503		59,928
Tesco plc		91,147		329,970
Unilever plc - ADR (a)		41,016		1,869,099
United Utilities Group plc		43,531		640,998
Vodafone Group plc - ADR (a)		40,631		675,287
				29,672,252
TOTAL COMMON STOCKS (Cost $253,230,354)			$	370,036,393

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	$	290,000
Calvert Social Investment Foundation, Inc. (d)		3.000	%		06/15/23		870,000		870,000
Calvert Social Investment Foundation, Inc. (d)		3.000	%		12/15/23		480,000		480,000
Calvert Social Investment Foundation, Inc. (d)		1.000	%		06/14/24		450,000		426,348
Calvert Social Investment Foundation, Inc. (d)		3.000	%		06/17/24		290,000		290,000
Calvert Social Investment Foundation, Inc. (d)		3.000	%		12/15/24		120,000		120,000
Calvert Social Investment Foundation, Inc. (d)		2.500	%		06/13/25		500,000		480,045
Calvert Social Investment Foundation, Inc. (d)		2.500	%		12/15/25		400,000		400,000
TOTAL CORPORATE NOTES (Cost $3,400,000)								$	3,356,393

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

INVESTMENT PURCHASED WITH THE CASH PROCEEDS FROM SECURITIES LENDING - 6.5%	Shares		Fair Value
Mount Vernon Liquid Assets Portfolio, LLC, 0.41% (f)(g) (Cost $24,365,534)		24,365,534	$	24,365,534
TOTAL INVESTMENTS - (Cost $280,995,888) - 105.6%			$	397,758,320
LIABILITES IN EXESS OF OTHER ASSETS - (5.6%)				(21,120,390	)
NET ASSETS - 100.0%			$	376,637,930

^(a) All or a portion of the security is on loan. The total fair value of the securities on loan as of March 31, 2022 was $23,288,590.

^(b) Non-income producing security.

^(c) Percentage rounds to less than 0.1%.

^(d) Restricted and/or illiquid securities not registered under the Securities Act of 1933 are as follows:

	Acquisition		Current		Fair		% of Net
	Date		Cost		Value		Assets
Calvert Social Investment Foundation, Inc. 2.000%, 06/15/22		06/17/19	$	290,000	$	290,000		0.1	%
Calvert Social Investment Foundation, Inc. 3.000%, 06/15/23		06/18/18		870,000		870,000		0.2	%
Calvert Social Investment Foundation, Inc. 3.000%, 12/15/23		12/17/18		480,000		480,000		0.1	%
Calvert Social Investment Foundation, Inc. 1.000%, 06/14/24		06/15/21		450,000		426,348		0.1	%
Calvert Social Investment Foundation, Inc. 3.000%, 06/17/24		06/17/19		290,000		290,000		0.1	%
Calvert Social Investment Foundation, Inc. 3.000%, 12/15/24		12/12/19		120,000		120,000		0.1	%
Calvert Social Investment Foundation, Inc. 2.500%, 06/13/25		06/12/20		500,000		480,045		0.1	%
Calvert Social Investment Foundation, Inc. 2.500%, 12/15/25		12/15/20		400,000		400,000		0.1	%
Mobile TeleSystems PJSC - ADR		07/19/11		752,376		869		0.0	%(c)
			$	4,152,376	$	3,357,262		0.9	%

^(e) Security value has been determined in good faith pursuant to procedures adopted by the Board of Trustees. The total fair value of such securities was $869 as of March 31, 2022, representing 0.0% ^(c) of net assets.

^(f) The rate shown is the 7-day effective yield as of March 31, 2022.

^(g) The security was purchased with cash collateral received from securities on loan.

ADR - American Depositary Receipt

CDI - CHESS Depositary Interest

plc - Public Liability Company

REIT - Real Estate Investment Trust

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

March 31, 2022 (Unaudited)

Common Stocks by Sector/Industry	% of Net Assets
Communications - 9.9%
Advertising & Marketing		0.4	%
Cable & Satellite		0.3	%
Entertainment Content		0.7	%
Internet Media & Services		2.9	%
Publishing & Broadcasting		0.5	%
Telecommunications		5.1	%
Consumer Discretionary - 8.7%
Apparel & Textile Products		1.2	%
Automotive		3.1	%
Consumer Services		0.1	%
E-Commerce Discretionary		1.1	%
Home Construction		0.7	%
Leisure Facilities & Services		0.3	%
Leisure Products		0.3	%
Retail - Discretionary		1.6	%
Wholesale - Discretionary		0.3	%
Consumer Staples - 7.1%
Beverages		0.9	%
Food		2.1	%
Household Products		2.2	%
Retail - Consumer Staples		1.5	%
Wholesale - Consumer Staples		0.4	%
Energy - 3.9%
Oil & Gas Producers		3.7	%
Renewable Energy		0.2	%
Financials - 20.2%
Asset Management		1.0	%
Banking		13.0	%
Institutional Financial Services		1.1	%
Insurance		4.9	%
Specialty Finance		0.2	%

Schedule of Portfolio Investments (Continued)
Common Stocks by Sector/Industry (Continued)	% of Net Assets
Health Care - 7.9%
Biotech & Pharma		5.2	%
Health Care Facilities & Services		1.1	%
Medical Equipment & Devices		1.6	%
Industrials - 9.4%
Commercial Support Services		1.4	%
Diversified Industrials		0.5	%
Electrical Equipment		1.5	%
Engineering & Construction		0.1	%
Industrial Support Services		0.5	%
Machinery		1.3	%
Transportation & Logistics		4.0	%
Transportation Equipment		0.1	%
Materials - 9.3%
Chemicals		3.1	%
Construction Materials		0.5	%
Containers & Packaging		0.5	%
Forestry, Paper & Wood Products		0.4	%
Metals & Mining		3.7	%
Steel		1.1	%
Real Estate - 4.3%
Real Estate Owners & Developers		1.7	%
REITs		2.6	%
Technology - 15.5%
Semiconductors		5.3	%
Software		1.1	%
Technology Hardware		4.5	%
Technology Services		4.6	%
Utilities - 2.0%
Electric & Gas Marketing & Trading		0.2	%
Electric Utilities		1.5	%
Gas & Water Utilities		0.3	%
		98.2	%

Schedule of Portfolio Investments
Praxis Value Index Fund
March 31, 2022 (Unaudited)
COMMON STOCKS - 98.2%	Shares		Fair Value
ADVERTISING & MARKETING - 0.2%
Omnicom Group, Inc. (a)	10,229	$	868,238
AEROSPACE & DEFENSE - 0.1%
Howmet Aerospace, Inc.	14,090		506,395
APPAREL & TEXTILE PRODUCTS - 0.4%
NIKE, Inc. - Class B	9,970		1,341,563
VF Corp. (a)	7,520		427,587
			1,769,150
ASSET MANAGEMENT - 0.5%
Ameriprise Financial, Inc.	1,540		462,555
BlackRock, Inc.	742		567,014
Charles Schwab Corp. (The)	11,220		945,958
			1,975,527
AUTOMOTIVE - 0.5%
BorgWarner, Inc.	14,870		578,443
Ford Motor Co.	81,853		1,384,134
			1,962,577
BANKING - 5.5%
Bank of America Corp.	101,100		4,167,342
Citigroup, Inc.	46,326		2,473,808
Citizens Financial Group, Inc. (a)	10,900		494,097
Fifth Third Bancorp	19,490		838,850
Huntington Bancshares, Inc.	33,170		484,945
JPMorgan Chase & Co.	40,025		5,456,208
KeyCorp	21,488		480,902
M&T Bank Corp. (a)	3,136		531,552
People's United Financial, Inc.	32,700		653,673
PNC Financial Services Group, Inc. (The)	11,651		2,149,027
Regions Financial Corp.	24,860		553,384
Truist Financial Corp.	40,660		2,305,422
U.S. Bancorp	22,707		1,206,877
			21,796,087
BEVERAGES - 2.8%
Coca-Cola Co. (The)	106,520		6,604,240
PepsiCo, Inc.	25,859		4,328,279
			10,932,519

Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.2% (Continued)	Shares		Fair Value
BIOTECH & PHARMA - 7.2%
AbbVie, Inc.	17,386	$	2,818,444
Amgen, Inc.	6,604		1,596,979
Biogen, Inc. (b)	2,440		513,864
Bristol-Myers Squibb Co.	63,139		4,611,041
Gilead Sciences, Inc.	23,550		1,400,048
Johnson & Johnson	64,781		11,481,137
Merck & Co., Inc.	61,130		5,015,717
Viatris, Inc.	40,540		441,075
Zoetis, Inc.	3,990		752,474
			28,630,779
CABLE & SATELLITE - 1.2%
Comcast Corp. - Class A	103,410		4,841,656
CHEMICALS - 4.2%
Air Products & Chemicals, Inc.	7,697		1,923,557
Dow, Inc.	19,230		1,225,335
DuPont de Nemours, Inc.	12,548		923,282
Eastman Chemical Co.	3,900		437,034
Ecolab, Inc.	7,050		1,244,748
International Flavors & Fragrances, Inc.	8,452		1,110,001
Linde plc	10,886		3,477,315
LyondellBasell Industries N.V. - Class A	50,910		5,234,566
PPG Industries, Inc.	1,280		167,770
Sherwin-Williams Co. (The)	2,880		718,906
			16,462,514
COMMERCIAL SUPPORT SERVICES - 1.8%
Republic Services, Inc.	11,450		1,517,125
Robert Half International, Inc.	5,180		591,452
Rollins, Inc. (a)	25,890		907,445
Waste Management, Inc.	25,070		3,973,595
			6,989,617
CONSTRUCTION MATERIALS - 0.1%
Martin Marietta Materials, Inc.	1,320		508,055
CONTAINERS & PACKAGING - 0.7%
Ball Corp.	12,248		1,102,320
International Paper Co.	12,160		561,184
Packaging Corp. of America	3,290		513,602

Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.2% (Continued)	Shares		Fair Value
CONTAINERS & PACKAGING - 0.7% (Continued)
WestRock Co.	10,430	$	490,523
			2,667,629
DIVERSIFIED INDUSTRIALS - 1.2%
Dover Corp.	5,253		824,195
Emerson Electric Co.	9,554		936,770
Illinois Tool Works, Inc. (a)	14,045		2,941,023
			4,701,988
ELECTRIC UTILITIES - 5.3%
AES Corp. (The)	27,234		700,731
American Electric Power Co., Inc.	16,270		1,623,258
CMS Energy Corp.	12,530		876,348
Consolidated Edison, Inc.	26,561		2,514,796
DTE Energy Co.	4,170		551,316
Duke Energy Corp.	25,514		2,848,893
Edison International	11,827		829,073
Eversource Energy	7,770		685,236
NextEra Energy, Inc.	49,300		4,176,203
PPL Corp.	16,050		458,388
Sempra Energy (a)	15,043		2,529,029
Southern Co. (The) (a)	31,681		2,297,189
Xcel Energy, Inc.	14,114		1,018,607
			21,109,067
ELECTRICAL EQUIPMENT - 2.9%
Carrier Global Corp.	22,720		1,042,166
Johnson Controls International plc	75,907		4,977,222
Keysight Technologies, Inc. (b)	6,000		947,820
Otis Worldwide Corp.	9,260		712,557
Rockwell Automation, Inc.	8,530		2,388,656
Roper Technologies, Inc.	3,030		1,430,857
			11,499,278
ENTERTAINMENT CONTENT - 2.4%
Activision Blizzard, Inc.	18,000		1,441,980
Discovery, Inc. (a)(b)	19,010		473,729
Electronic Arts, Inc.	8,020		1,014,610
Fox Corp. - Class A (a)	15,020		592,539
Paramount Global - Class B (a)	15,606		590,063

Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.2% (Continued)	Shares		Fair Value
ENTERTAINMENT CONTENT - 2.4% (Continued)
Walt Disney Co. (The) (b)	38,829	$	5,325,786
			9,438,707
FOOD - 2.7%
Campbell Soup Co. (a)	10,070		448,820
Conagra Brands, Inc.	16,070		539,470
General Mills, Inc. (a)	31,984		2,165,957
Hershey Co. (The)	2,830		613,063
Hormel Foods Corp. (a)	22,750		1,172,535
J.M. Smucker Co. (The) (a)	3,710		502,371
Kellogg Co. (a)	5,960		384,360
Kraft Heinz Co. (The)	24,390		960,722
McCormick & Co., Inc.	6,090		607,782
Mondelez International, Inc. - Class A	40,482		2,541,460
Tyson Foods, Inc. - Class A	9,110		816,529
			10,753,069
GAS & WATER UTILITIES - 0.4%
American Water Works Co., Inc.	4,220		698,537
NiSource, Inc.	29,770		946,686
			1,645,223
HEALTH CARE FACILITIES & SERVICES - 4.9%
AmerisourceBergen Corp.	8,740		1,352,166
Anthem, Inc.	6,020		2,957,144
Cardinal Health, Inc.	11,920		675,864
Cigna Corp.	11,502		2,755,994
CVS Health Corp.	25,454		2,576,199
Henry Schein, Inc. (b)	3,230		281,624
Humana, Inc.	1,410		613,590
IQVIA Holdings, Inc. (b)	2,920		675,133
Laboratory Corp. of America Holdings (b)	2,120		558,959
McKesson Corp.	5,714		1,749,227
UnitedHealth Group, Inc.	10,290		5,247,591
			19,443,491
HOME & OFFICE PRODUCTS - 0.1%
Whirlpool Corp. (a)	3,150		544,257
HOUSEHOLD PRODUCTS - 2.8%
Church & Dwight Co., Inc. (a)	6,650		660,877

Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.2% (Continued)	Shares		Fair Value
HOUSEHOLD PRODUCTS - 2.8% (Continued)
Colgate-Palmolive Co.	5,290	$	401,141
Kimberly-Clark Corp.	14,960		1,842,473
Procter & Gamble Co. (The)	52,946		8,090,149
			10,994,640
INDUSTRIAL SUPPORT SERVICES - 0.3%
Fastenal Co.	9,800		582,120
W.W. Grainger, Inc.	1,310		675,685
			1,257,805
INSTITUTIONAL FINANCIAL SERVICES - 1.9%
Bank of New York Mellon Corp. (The)	38,024		1,887,131
CME Group, Inc.	9,190		2,185,933
Intercontinental Exchange, Inc.	5,030		664,564
Morgan Stanley	17,641		1,541,823
Northern Trust Corp.	6,297		733,286
State Street Corp.	6,610		575,863
			7,588,600
INSURANCE - 5.8%
Aflac, Inc.	38,140		2,455,834
Allstate Corp. (The)	10,919		1,512,391
American International Group, Inc.	22,987		1,442,894
Arthur J. Gallagher & Co.	2,930		511,578
Assurant, Inc.	4,170		758,231
Berkley (W.R.) Corp.	9,825		654,247
Cincinnati Financial Corp.	4,172		567,225
Globe Life, Inc.	10,480		1,054,288
Hartford Financial Services Group, Inc. (The)	10,830		777,702
Lincoln National Corp.	7,310		477,781
Loews Corp. (a)	25,180		1,632,168
Marsh & McLennan Cos., Inc.	7,150		1,218,503
MetLife, Inc.	35,413		2,488,826
Principal Financial Group, Inc. (a)	11,170		819,990
Progressive Corp. (The) (a)	16,630		1,895,654
Prudential Financial, Inc.	20,750		2,452,027
Travelers Cos., Inc. (The)	13,253		2,421,721
			23,141,060
INTERNET MEDIA & SERVICES - 0.7%
Booking Holdings, Inc. (b)	700		1,643,915
Expedia Group, Inc. (a)(b)	3,040		594,837

Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.2% (Continued)	Shares		Fair Value
INTERNET MEDIA & SERVICES - 0.7% (Continued)
Match Group, Inc. (b)	6,650	$	723,121
			2,961,873
LEISURE FACILITIES & SERVICES - 2.1%
Carnival Corp. (a)(b)	28,663		579,566
Darden Restaurants, Inc.	4,210		559,719
Hilton Worldwide Holdings, Inc. (b)	6,420		974,171
Marriott International, Inc. - Class A (b)	6,210		1,091,407
McDonald's Corp.	11,220		2,774,482
Starbucks Corp.	16,870		1,534,664
Yum! Brands, Inc.	5,400		640,062
			8,154,071
LEISURE PRODUCTS - 0.1%
Hasbro, Inc.	6,490		531,661
MACHINERY - 1.2%
Deere & Co.	5,057		2,100,981
IDEX Corp.	2,840		544,513
Ingersoll-Rand, Inc.	13,050		657,068
Stanley Black & Decker, Inc.	5,070		708,735
Xylem, Inc.	7,010		597,673
			4,608,970
MEDICAL EQUIPMENT & DEVICES - 4.3%
Abbott Laboratories	23,170		2,742,401
Baxter International, Inc.	17,182		1,332,292
Becton, Dickinson and Co.	8,310		2,210,460
Boston Scientific Corp. (b)	29,180		1,292,382
Cooper Cos., Inc. (The)	1,170		488,581
Danaher Corp.	7,520		2,205,842
DENTSPLY SIRONA, Inc.	8,810		433,628
Edwards Lifesciences Corp. (b)	5,460		642,751
Illumina, Inc. (b)	3,590		1,254,346
Intuitive Surgical, Inc. (b)	1,460		440,453
Mettler-Toledo International, Inc. (b)	190		260,906
ResMed, Inc.	980		237,660
Stryker Corp.	3,720		994,542
Teleflex, Inc.	1,370		486,117

Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.2% (Continued)	Shares		Fair Value
MEDICAL EQUIPMENT & DEVICES - 4.3% (Continued)
Thermo Fisher Scientific, Inc.	3,154	$	1,862,910
			16,885,271
METALS & MINING - 0.1%
Newmont Corp.	3,280		260,596
OIL & GAS PRODUCERS - 3.6%
ConocoPhillips	107,487		10,748,700
Valero Energy Corp.	34,350		3,487,899
			14,236,599
OIL & GAS SERVICES & EQUIPMENT - 1.7%
Baker Hughes Co. (a)	65,320		2,378,301
Schlumberger Ltd.	105,016		4,338,211
			6,716,512
REAL ESTATE SERVICES - 0.9%
CBRE Group, Inc. - Class A (b)	40,520		3,708,390
REITS - 3.8%
American Tower Corp.	4,760		1,195,807
AvalonBay Communities, Inc.	5,900		1,465,383
Boston Properties, Inc.	3,190		410,872
Crown Castle International Corp.	4,160		767,936
Digital Realty Trust, Inc.	5,980		847,964
Equinix, Inc.	910		674,874
Equity Residential	17,370		1,561,910
Federal Realty Investment Trust	1,610		196,533
Healthpeak Properties, Inc.	20,530		704,795
Host Hotels & Resorts, Inc.	49,590		963,534
Iron Mountain, Inc.	10		554
Kimco Realty Corp.	22,420		553,774
Prologis, Inc.	15,540		2,509,399
Public Storage	1,920		749,338
Realty Income Corp.	9,490		657,657
Regency Centers Corp.	9,230		658,468
Simon Property Group, Inc.	2,209		290,616
Welltower, Inc.	9,100		874,874
			15,084,288

Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.2% (Continued)	Shares		Fair Value
RETAIL - CONSUMER STAPLES - 2.6%
Costco Wholesale Corp.	3,160	$	1,819,686
Dollar General Corp.	2,630		585,517
Dollar Tree, Inc. (b)	4,010		642,202
Kroger Co. (The) (a)	20,514		1,176,888
Target Corp.	4,850		1,029,267
Walgreen Boots Alliance, Inc.	8,200		367,114
Walmart, Inc.	30,750		4,579,290
			10,199,964
RETAIL - DISCRETIONARY - 1.3%
Best Buy Co., Inc.	1,760		159,984
Genuine Parts Co.	4,570		575,911
Home Depot, Inc. (The)	6,312		1,889,371
Lowe's Cos., Inc.	1,910		386,183
Ross Stores, Inc.	5,160		466,774
TJX Cos., Inc. (The)	29,130		1,764,695
			5,242,918
SEMICONDUCTORS - 3.3%
Analog Devices, Inc.	8,960		1,480,013
Broadcom, Inc.	3,100		1,952,008
Intel Corp.	83,908		4,158,480
IPG Photonics Corp. (b)	4,430		486,237
Micron Technology, Inc.	29,590		2,304,765
Qorvo, Inc. (b)	4,610		572,101
Texas Instruments, Inc.	12,020		2,205,430
			13,159,034
SOFTWARE - 1.6%
Autodesk, Inc. (b)	2,650		568,027
Cerner Corp.	2,680		250,741
Citrix Systems, Inc.	1,560		157,404
Microsoft Corp.	4,950		1,526,135
NortonLifeLock, Inc. (a)	15,800		419,016
Oracle Corp.	8,432		697,579
salesforce.com, inc. (b)	10,040		2,131,693
Synopsys, Inc. (b)	2,040		679,871
			6,430,466
SPECIALTY FINANCE - 0.8%
American Express Co.	9,754		1,823,998
Capital One Financial Corp.	6,200		813,998

Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.2% (Continued)	Shares		Fair Value
SPECIALTY FINANCE - 0.8% (Continued)
Synchrony Financial	10,350	$	360,284
			2,998,280
TECHNOLOGY HARDWARE - 1.6%
Cisco Systems, Inc.	73,730		4,111,185
Corning, Inc.	14,610		539,255
HP, Inc.	26,820		973,566
Western Digital Corp. (b)	11,965		594,062
			6,218,068
TECHNOLOGY SERVICES - 5.5%
Accenture plc - Class A	16,780		5,658,720
Automatic Data Processing, Inc.	5,210		1,185,483
Cognizant Technology Solutions Corp. - Class A	10,200		914,634
DXC Technology Co. (b)	15,380		501,849
Fidelity National Information Services, Inc.	16,860		1,693,081
Fiserv, Inc. (b)	11,100		1,125,540
International Business Machines Corp. (a)	17,092		2,222,302
Mastercard, Inc. - Class A	6,940		2,480,217
MSCI, Inc.	1,140		573,283
Paychex, Inc. (a)	3,334		454,991
PayPal Holdings, Inc. (b)	10,860		1,255,959
S&P Global, Inc. (a)	2,450		1,004,941
Visa, Inc. - Class A (a)	12,350		2,738,860
			21,809,860
TELECOMMUNICATIONS - 2.5%
AT&T, Inc.	203,966		4,819,717
T-Mobile US, Inc. (b)	13,480		1,730,158
Verizon Communications, Inc.	67,610		3,444,053
			9,993,928
TRANSPORTATION & LOGISTICS - 4.1%
Alaska Air Group, Inc. (b)	9,130		529,631
American Airlines Group, Inc. (a)(b)	43,070		786,027
C.H. Robinson Worldwide, Inc. (a)	6,070		653,800
CSX Corp.	57,110		2,138,770
Delta Air Lines, Inc. (b)	29,020		1,148,321
FedEx Corp.	5,380		1,244,878
J.B. Hunt Transport Services, Inc.	4,690		941,705
Norfolk Southern Corp.	7,190		2,050,732
Southwest Airlines Co. (b)	28,050		1,284,690

Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
COMMON STOCKS - 98.2% (Continued)				Shares		Fair Value
TRANSPORTATION & LOGISTICS - 4.1% (Continued)
Union Pacific Corp.					10,450	$	2,855,045
United Parcel Service, Inc. - Class B					11,880		2,547,785
							16,181,384
TRANSPORTATION EQUIPMENT - 0.1%
PACCAR, Inc.					5,090		448,276
WHOLESALE - CONSUMER STAPLES - 0.4%
Sysco Corp. (a)					18,180		1,484,397
TOTAL COMMON STOCKS (COST $285,291,349)						$	389,342,734
CORPORATE NOTES - 1.0%	Coupon		Maturity		Principal Amount		Fair Value
COMMUNITY DEVELOPMENT - 1.0%
Calvert Social Investment Foundation, Inc. (c)	2.000	%	06/15/22	$	280,000	$	280,000
Calvert Social Investment Foundation, Inc. (c)	0.400	%	12/15/22		400,000		400,000
Calvert Social Investment Foundation, Inc. (c)	3.000	%	06/15/23		450,000		450,000
Calvert Social Investment Foundation, Inc. (c)	3.000	%	12/15/23		720,000		720,000
Calvert Social Investment Foundation, Inc. (c)	1.000	%	06/14/24		750,000		710,580
Calvert Social Investment Foundation, Inc. (c)	3.000	%	06/17/24		280,000		280,000
Calvert Social Investment Foundation, Inc. (c)	3.000	%	12/15/24		250,000		250,000
Calvert Social Investment Foundation, Inc. (c)	2.500	%	06/13/25		280,000		268,825
Calvert Social Investment Foundation, Inc. (c)	2.500	%	12/15/25		450,000		450,000
TOTAL CORPORATE NOTES (COST $3,860,000)						$	3,809,405
MONEY MARKET FUNDS - 0.4%					Shares		Fair Value
First American Government Obligations Fund - Class X, 0.03% (d) (COST $1,488,098)					1,488,098	$	1,488,098

Schedule of Portfolio Investments (Continued)
Praxis Value Index Fund
INVESTMENT PURCHASED WITH THE CASH PROCEEDS FROM SECURITIES LENDING - 6.7%	Shares		Fair Value
Mount Vernon Liquid Assets Portfolio, LLC, 0.41% (d)(e) (COST $26,790,655)	26,790,655	$	26,790,655
TOTAL INVESTMENTS - (COST $317,430,102) - 106.3%		$	421,430,892
LIABILITIES IN EXCESS OF OTHER ASSETS - (6.3%)			(25,067,359	)
NET ASSETS - 100.0%		$	396,363,533

(a)	All or a portion of the security is on loan.  The total fair value of the securities on loan as of March 31, 2022 was $25,924,755.
(b)	Non-income producing security.
(c)	Restricted and illiquid securities not registered under the Securities Act of 1933 are as follows:

	Acquisition	Current		Fair		% of Net
	Date	Cost		Value		Assets
Calvert Social Investment Foundation, Inc.  2.000%, 06/15/22	06/17/19	$	280,000	$	280,000		0.1	%
Calvert Social Investment Foundation, Inc.  0.400%, 12/15/22	12/15/21		400,000		400,000		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 06/15/23	06/18/18		450,000		450,000		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 12/15/23	12/17/18		720,000		720,000		0.2	%
Calvert Social Investment Foundation, Inc.  1.000%, 06/14/24	06/15/21		750,000		710,580		0.2	%
Calvert Social Investment Foundation, Inc.  3.000%, 06/17/24	06/17/19		280,000		280,000		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 12/15/24	12/12/19		250,000		250,000		0.0	%(f)
Calvert Social Investment Foundation, Inc.  2.500%, 06/13/25	06/12/20		280,000		268,825		0.1	%
Calvert Social Investment Foundation, Inc.  2.500%, 12/15/25	12/15/20		450,000		450,000		0.1	%
		$	3,860,000	$	3,809,405		1.0	%

(d)	The rate shown is the 7-day effective yield as of March 31, 2022.
(e)	The security was purchased with cash collateral received from securities on loan.
(f)	Percentage rounds to less than 0.1%.

plc - Public Liability Company

Schedule of Portfolio Investments
Praxis Growth Index Fund
March 31, 2022 (Unaudited)
COMMON STOCKS - 98.5%	Shares		Fair Value
APPAREL & TEXTILE PRODUCTS - 0.5%
NIKE, Inc. - Class B	20,317	$	2,733,856
ASSET MANAGEMENT - 0.9%
Ameriprise Financial, Inc.	1,380		414,497
BlackRock, Inc.	2,233		1,706,392
Charles Schwab Corp. (The)	32,260		2,719,840
			4,840,729
AUTOMOTIVE - 4.5%
Tesla, Inc. (a)(b)	23,030		24,817,128
BANKING - 1.8%
Bank of America Corp.	88,350		3,641,787
Fifth Third Bancorp	8,730		375,739
First Republic Bank	6,350		1,029,335
JPMorgan Chase & Co.	21,870		2,981,319
PNC Financial Services Group, Inc. (The)	3,900		719,355
Signature Bank	2,090		613,394
SVB Financial Group (a)	800		447,560
			9,808,489
BEVERAGES - 0.7%
Coca-Cola Co. (The)	6,170		382,540
PepsiCo, Inc.	19,670		3,292,365
			3,674,905
BIOTECH & PHARMA - 3.8%
AbbVie, Inc.	15,191		2,462,613
Amgen, Inc.	12,064		2,917,316
Biogen, Inc. (a)	2,890		608,634
Bristol-Myers Squibb Co.	6,116		446,651
Eli Lilly & Co.	18,050		5,168,979
Incyte Corp. (a)	8,757		695,481
Johnson & Johnson	4,488		795,408
Merck & Co., Inc.	5,571		457,101
Moderna, Inc. (a)	8,100		1,395,306
Regeneron Pharmaceuticals, Inc. (a)	3,101		2,165,800
Vertex Pharmaceuticals, Inc. (a)	5,704		1,488,573
Zoetis, Inc.	12,930		2,438,469
			21,040,331

Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
COMMON STOCKS - 98.5% (Continued)	Shares		Fair Value
CHEMICALS - 1.0%
Air Products & Chemicals, Inc.	2,878	$	719,241
Linde plc	11,878		3,794,190
Sherwin-Williams Co. (The)	3,471		866,431
			5,379,862
COMMERCIAL SUPPORT SERVICES - 0.4%
Robert Half International, Inc.	6,040		689,647
Waste Management, Inc.	8,704		1,379,584
			2,069,231
CONTAINERS & PACKAGING - 0.1%
Ball Corp.	5,630		506,700
DIVERSIFIED INDUSTRIALS - 0.1%
Illinois Tool Works, Inc.	3,454		723,268
E-COMMERCE DISCRETIONARY - 5.3%
Amazon.com, Inc. (a)	8,700		28,361,565
eBay, Inc.	16,625		951,948
Etsy, Inc. (a)	3,530		438,708
			29,752,221
ELECTRIC UTILITIES - 0.2%
Eversource Energy	6,420		566,180
NextEra Energy, Inc.	8,874		751,716
			1,317,896
ELECTRICAL EQUIPMENT - 1.5%
Amphenol Corp. - Class A	27,452		2,068,508
Generac Holdings, Inc. (a)	1,590		472,644
Keysight Technologies, Inc. (a)	17,441		2,755,155
Rockwell Automation, Inc.	2,298		643,509
TE Connectivity Ltd.	5,190		679,786
Trane Technologies plc	4,660		711,582
Trimble, Inc. (a)	10,860		783,440
			8,114,624
ENTERTAINMENT CONTENT - 0.5%
Activision Blizzard, Inc.	6,560		525,522
Electronic Arts, Inc.	10,655		1,347,964
Walt Disney Co. (The) (a)	5,103		699,927
			2,573,413

Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
COMMON STOCKS - 98.5% (Continued)	Shares		Fair Value
GAS & WATER UTILITIES - 0.1%
American Water Works Co., Inc.	3,780	$	625,703
HEALTH CARE FACILITIES & SERVICES - 2.0%
Anthem, Inc.	1,300		638,586
Catalent, Inc. (a)	5,970		662,073
Charles River Laboratories International, Inc. (a)	2,140		607,696
HCA Healthcare, Inc.	2,590		649,106
Humana, Inc.	1,060		461,280
IQVIA Holdings, Inc. (a)	4,968		1,148,651
Laboratory Corp. of America Holdings (a)	1,440		379,670
McKesson Corp.	1,730		529,605
UnitedHealth Group, Inc.	12,240		6,242,033
			11,318,700
HOME CONSTRUCTION - 0.2%
D.R. Horton, Inc.	6,078		452,872
Masco Corp.	8,006		408,306
			861,178
HOUSEHOLD PRODUCTS - 0.1%
Colgate-Palmolive Co.	5,297		401,672
INDUSTRIAL SUPPORT SERVICES - 0.2%
Fastenal Co.	11,534		685,119
United Rentals, Inc. (a)	1,490		529,263
			1,214,382
INSTITUTIONAL FINANCIAL SERVICES - 1.3%
CME Group, Inc.	1,660		394,848
Goldman Sachs Group, Inc. (The)	8,620		2,845,462
Intercontinental Exchange, Inc.	10,061		1,329,259
Morgan Stanley	19,100		1,669,340
Nasdaq, Inc.	5,020		894,564
			7,133,473
INSURANCE - 0.3%
Marsh & McLennan Cos., Inc.	10,720		1,826,902
INTERNET MEDIA & SERVICES - 10.0%
Alphabet, Inc. - Class A (a)	5,155		14,337,859
Alphabet, Inc. - Class C (a)(b)	7,156		19,986,637
Booking Holdings, Inc. (a)	355		833,700

Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
COMMON STOCKS - 98.5% (Continued)	Shares		Fair Value
INTERNET MEDIA & SERVICES - 10.0% (Continued)
Expedia Group, Inc. (a)(b)	2,720	$	532,222
Meta Platforms, Inc. - Class A (a)	64,515		14,345,555
Netflix, Inc. (a)	11,402		4,271,075
Twitter, Inc. (a)	18,680		722,729
VeriSign, Inc. (a)	3,410		758,589
			55,788,366
LEISURE FACILITIES & SERVICES - 0.9%
Chipotle Mexican Grill, Inc. (a)	617		976,112
Hilton Worldwide Holdings, Inc. (a)(b)	2,740		415,768
McDonald's Corp.	7,567		1,871,168
Starbucks Corp.	14,692		1,336,531
Yum! Brands, Inc.	5,234		620,386
			5,219,965
MACHINERY - 0.4%
Deere & Co.	4,096		1,701,724
Xylem, Inc.	7,650		652,239
			2,353,963
MEDICAL EQUIPMENT & DEVICES - 5.0%
Abbott Laboratories	36,136		4,277,057
Agilent Technologies, Inc.	8,185		1,083,121
Align Technology, Inc. (a)	1,711		745,996
Bio-Techne Corp.	1,340		580,274
Cooper Cos., Inc. (The)	1,161		484,822
Danaher Corp.	12,704		3,726,464
DexCom, Inc. (a)	2,750		1,406,900
Edwards Lifesciences Corp. (a)	12,250		1,442,070
IDEXX Laboratories, Inc. (a)	2,060		1,126,944
Illumina, Inc. (a)	2,758		963,645
Intuitive Surgical, Inc. (a)	3,430		1,034,763
Mettler-Toledo International, Inc. (a)	960		1,318,262
PerkinElmer, Inc. (b)	4,400		767,624
ResMed, Inc.	3,038		736,745
Thermo Fisher Scientific, Inc.	11,485		6,783,615
Waters Corp. (a)	1,646		510,902
West Pharmaceutical Services, Inc.	2,490		1,022,668
			28,011,872

Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
COMMON STOCKS - 98.5% (Continued)	Shares		Fair Value
OIL & GAS PRODUCERS - 0.3%
ConocoPhillips	12,890	$	1,289,000
Valero Energy Corp.	5,530		561,516
			1,850,516
OIL & GAS SERVICES & EQUIPMENT - 0.4%
Baker Hughes Co.	23,030		838,522
Schlumberger Ltd.	35,490		1,466,092
			2,304,614
REAL ESTATE SERVICES - 0.6%
CBRE Group, Inc. - Class A (a)	35,153		3,217,203
REITS - 2.2%
American Tower Corp.	6,962		1,748,994
Crown Castle International Corp.	3,279		605,303
Equinix, Inc.	2,697		2,000,149
Extra Space Storage, Inc.	2,700		555,120
Prologis, Inc.	29,527		4,768,020
Public Storage	2,570		1,003,020
SBA Communications Corp.	1,668		573,959
Simon Property Group, Inc.	3,670		482,825
Weyerhaeuser Co.	18,740		710,246
			12,447,636
RENEWABLE ENERGY - 0.3%
Enphase Energy, Inc. (a)	4,120		831,334
SolarEdge Technologies, Inc. (a)	1,750		564,147
			1,395,481
RETAIL - CONSUMER STAPLES - 1.9%
Costco Wholesale Corp.	10,453		6,019,360
Dollar General Corp.	3,453		768,741
Dollar Tree, Inc. (a)	1,590		254,639
Target Corp.	8,164		1,732,564
Walgreen Boots Alliance, Inc.	15,570		697,069
Walmart, Inc.	7,930		1,180,936
			10,653,309
RETAIL - DISCRETIONARY - 3.3%
Advance Auto Parts, Inc.	830		171,777
AutoZone, Inc. (a)	659		1,347,378
Bath & Body Works, Inc.	10,790		515,762
CarMax, Inc. (a)	5,870		566,337

Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
COMMON STOCKS - 98.5% (Continued)	Shares		Fair Value
RETAIL - DISCRETIONARY - 3.3% (Continued)
Home Depot, Inc. (The)	27,216	$	8,146,565
Lowe's Cos., Inc.	19,889		4,021,357
O'Reilly Automotive, Inc. (a)	2,310		1,582,258
Ross Stores, Inc.	6,195		560,400
TJX Cos., Inc. (The)	6,093		369,114
Tractor Supply Co.	3,700		863,469
Ulta Beauty, Inc. (a)	1,070		426,095
			18,570,512
SEMICONDUCTORS - 9.1%
Advanced Micro Devices, Inc. (a)	50,266		5,496,084
Analog Devices, Inc.	4,614		762,140
Applied Materials, Inc.	31,036		4,090,545
Broadcom, Inc.	9,059		5,704,271
KLA Corp.	5,062		1,852,996
Lam Research Corp.	4,223		2,270,327
Microchip Technology, Inc.	10,060		755,908
Monolithic Power Systems, Inc.	1,810		879,081
NVIDIA Corp.	75,496		20,599,839
QUALCOMM, Inc.	30,390		4,644,200
Teradyne, Inc. (b)	4,990		589,968
Texas Instruments, Inc.	17,317		3,177,323
			50,822,682
SOFTWARE - 17.2%
Adobe, Inc. (a)	19,797		9,019,909
Akamai Technologies, Inc. (a)	6,400		764,096
ANSYS, Inc. (a)	2,738		869,726
Autodesk, Inc. (a)	4,686		1,004,444
Cadence Design Systems, Inc. (a)	14,424		2,372,171
Citrix Systems, Inc.	5,442		549,098
Fortinet, Inc. (a)	9,560		3,267,034
Intuit, Inc.	12,990		6,246,112
Microsoft Corp.	168,288		51,884,873
Oracle Corp.	62,740		5,190,480
Paycom Software, Inc. (a)	1,270		439,903
salesforce.com, inc. (a)	23,827		5,058,949
ServiceNow, Inc. (a)	7,723		4,300,861
Synopsys, Inc. (a)	12,480		4,159,210

Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
COMMON STOCKS - 98.5% (Continued)	Shares		Fair Value
SOFTWARE - 17.2% (Continued)
Tyler Technologies, Inc. (a)	1,360	$	605,050
			95,731,916
SPECIALTY FINANCE - 0.6%
American Express Co.	10,000		1,870,000
Capital One Financial Corp.	3,740		491,024
Discover Financial Services	6,300		694,197
Synchrony Financial	10,370		360,980
			3,416,201
STEEL - 0.1%
Nucor Corp.	3,250		483,112
TECHNOLOGY HARDWARE - 12.7%
Apple, Inc.	351,448		61,366,335
Arista Networks, Inc. (a)	7,440		1,034,011
Cisco Systems, Inc.	100,260		5,590,498
HP, Inc.	19,530		708,939
NetApp, Inc.	9,090		754,470
Seagate Technology plc	6,950		624,805
Zebra Technologies Corp. - Class A (a)	2,137		884,077
			70,963,135
TECHNOLOGY SERVICES - 6.6%
Accenture plc - Class A	22,399		7,553,615
Automatic Data Processing, Inc.	13,460		3,062,688
Broadridge Financial Solutions, Inc.	5,226		813,741
Cognizant Technology Solutions Corp. - Class A	8,540		765,782
EPAM Systems, Inc. (a)	3,340		990,677
Equifax, Inc.	2,580		611,718
FactSet Research Systems, Inc.	2,560		1,111,424
Fiserv, Inc. (a)	7,526		763,136
Gartner, Inc. (a)	5,280		1,570,589
International Business Machines Corp.	5,700		741,114
Jack Henry & Associates, Inc. (b)	3,810		750,761
Mastercard, Inc. - Class A	13,716		4,901,824
Moody's Corp.	3,375		1,138,759
MSCI, Inc.	1,797		903,675
PayPal Holdings, Inc. (a)	17,887		2,068,632
S&P Global, Inc. (b)	7,205		2,955,241
Verisk Analytics, Inc.	3,035		651,402

Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
COMMON STOCKS - 98.5% (Continued)				Shares		Fair Value
TECHNOLOGY SERVICES - 6.6% (Continued)
Visa, Inc. - Class A (b)					24,203	$	5,367,499
							36,722,277
TRANSPORTATION & LOGISTICS - 1.2%
CSX Corp.					21,341		799,221
J.B. Hunt Transport Services, Inc.					2,270		455,793
Old Dominion Freight Line, Inc.					4,700		1,403,796
Union Pacific Corp.					6,771		1,849,905
United Parcel Service, Inc. - Class B					9,065		1,944,080
							6,452,795
WHOLESALE - DISCRETIONARY - 0.2%
Copart, Inc. (a)					5,108		640,901
Pool Corp.					1,190		503,191
							1,144,092
TOTAL COMMON STOCKS (COST $281,499,584)						$	548,284,310
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	$	550,000	$	550,000
Calvert Social Investment Foundation, Inc. (c)	0.400	%	12/15/22		750,000		750,000
Calvert Social Investment Foundation, Inc. (c)	3.000	%	06/15/23		900,000		900,000
Calvert Social Investment Foundation, Inc. (c)	3.000	%	12/15/23		200,000		200,000
Calvert Social Investment Foundation, Inc. (c)	1.000	%	06/14/24		520,000		492,669
Calvert Social Investment Foundation, Inc. (c)	3.000	%	06/17/24		550,000		550,000
Calvert Social Investment Foundation, Inc. (c)	3.000	%	12/15/24		150,000		150,000
Calvert Social Investment Foundation, Inc. (c)	2.500	%	06/13/25		670,000		643,261
Calvert Social Investment Foundation, Inc. (c)	2.500	%	12/15/25		500,000		500,000
TOTAL CORPORATE NOTES (COST $4,790,000)						$	4,735,930
MONEY MARKET FUNDS - 0.4%					Shares		Fair Value
First American Government Obligations Fund - Class X, 0.03% (d) (COST $2,243,525)					2,243,525	$	2,243,525

Schedule of Portfolio Investments (Continued)
Praxis Growth Index Fund
INVESTMENT PURCHASED WITH THE CASH PROCEEDS FROM SECURITIES LENDING - 10.2%	Shares		Fair Value
Mount Vernon Liquid Assets Portfolio, LLC, 0.41% (d)(e) (COST $57,105,541)	57,105,541	$	57,105,541
TOTAL INVESTMENTS - (COST $345,638,650) - 110.0%		$	612,369,306
LIABILITIES IN EXCESS OF OTHER ASSETS - (10.0%)			(55,675,336	)
NET ASSETS - 100.0%		$	556,693,970

(a)	Non-income producing security.
(b)	All or a portion of the security is on loan.  The total fair value of the securities on loan as of March 31, 2022 was $55,046,178.
(c)	Restricted and illiquid securities not registered under the Securities Act of 1933 are as follows:

	Acquisition	Current		Fair		% of Net
	Date	Cost		Value		Assets
Calvert Social Investment Foundation, Inc.  2.000%, 06/15/22	06/17/19	$	550,000	$	550,000		0.1	%
Calvert Social Investment Foundation, Inc.  0.400%, 12/15/22	12/15/21		750,000		750,000		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 06/15/23	06/18/18		900,000		900,000		0.2	%
Calvert Social Investment Foundation, Inc.  3.000%, 12/15/23	12/17/18		200,000		200,000		0.1	%
Calvert Social Investment Foundation, Inc.  1.000%, 06/14/24	06/15/21		520,000		492,669		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 06/17/24	06/17/19		550,000		550,000		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 12/15/24	12/12/19		150,000		150,000		0.0	%(f)
Calvert Social Investment Foundation, Inc.  2.500%, 06/13/25	06/12/20		670,000		643,261		0.1	%
Calvert Social Investment Foundation, Inc.  2.500%, 12/15/25	12/15/20		500,000		500,000		0.1	%
		$	4,790,000	$	4,735,930		0.9	%

(d)	The rate shown is the 7-day effective yield as of March 31, 2022.
(e)	The security was purchased with cash collateral received from securities on loan.
(f)	Percentage rounds to less than 0.1%.

plc - Public Liability Company

Schedule of Portfolio Investments
Praxis Small Cap Index Fund
March 31, 2022 (Unaudited)
COMMON STOCKS - 98.6%	Shares		Fair Value
ADVERTISING & MARKETING - 0.1%
QuinStreet, Inc. (a)	15,700	$	182,120
AEROSPACE & DEFENSE - 0.2%
Barnes Group, Inc.	2,800		112,532
Park Aerospace Corp.	12,250		159,863
			272,395
APPAREL & TEXTILE PRODUCTS - 1.1%
Fossil Group, Inc. (a)(b)	15,270		147,203
Kontoor Brands, Inc.	7,330		303,095
Movado Group, Inc.	6,810		265,931
Oxford Industries, Inc.	3,465		313,583
Steven Madden Ltd.	11,935		461,168
Wolverine World Wide, Inc.	13,500		304,560
			1,795,540
ASSET MANAGEMENT - 0.6%
B. Riley Financial, Inc.	3,350		234,366
Blucora, Inc. (a)	15,340		299,897
BrightSphere Investment Group, Inc. (b)	7,030		170,477
Virtus Investment Partners, Inc.	920		220,791
			925,531
AUTOMOTIVE - 1.3%
American Axle & Manufacturing Holdings, Inc. (a)	25,710		199,509
Dorman Products, Inc. (a)	4,390		417,182
Gentherm, Inc. (a)	4,820		352,053
Methode Electronics, Inc. (b)	8,170		353,352
Standard Motor Products, Inc.	3,290		141,931
XPEL, Inc. (a)	11,120		585,023
			2,049,050
BANKING - 11.8%
Allegiance Bancshares, Inc.	6,260		279,697
Ameris Bancorp	10,274		450,823
Axos Financial, Inc. (a)	8,590		398,490
Banc of California, Inc.	10,340		200,182
BancFirst Corp.	4,170		346,986
Bancorp, Inc. (The) (a)	14,120		400,020
BankUnited, Inc.	14,690		645,772
Banner Corp.	6,070		355,277

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
BANKING - 11.8% (Continued)
Berkshire Hills Bancorp, Inc.	14,650	$	424,410
Brookline Bancorp, Inc.	7,810		123,554
Capitol Federal Financial, Inc.	21,140		230,003
Central Pacific Financial Corp.	11,430		318,897
City Holding Co.	2,750		216,425
Columbia Banking System, Inc. (b)	11,000		354,970
Community Bank System, Inc.	5,920		415,288
Customers Bancorp, Inc. (a)	12,040		627,766
CVB Financial Corp.	13,000		301,730
Dime Community Bancshares, Inc.	21,099		729,392
Eagle Bancorp, Inc.	5,790		330,088
FB Financial Corp.	3,776		167,730
First BanCorp.	38,970		511,286
First Bancorp/NC	5,760		240,595
First Commonwealth Financial Corp.	7,040		106,726
First Financial Bancorp	4,650		107,182
First Hawaiian, Inc.	23,640		659,320
Flagstar Bancorp, Inc.	6,160		261,184
Hanmi Financial Corp.	14,750		362,997
HomeStreet, Inc.	5,810		275,278
Hope Bancorp, Inc.	22,210		357,137
Independent Bank Corp.	5,580		455,830
Independent Bank Group, Inc.	4,980		354,377
Investors Bancorp, Inc.	40,660		607,054
Lakeland Financial Corp.	3,600		262,800
Meta Financial Group, Inc.	6,750		370,710
National Bank Holdings Corp. - Class A	6,570		264,640
NBT Bancorp, Inc.	3,260		117,784
Northfield Bancorp, Inc.	14,500		208,220
Northwest Bancshares, Inc.	32,770		442,723
OFG Bancorp (b)	11,530		307,159
Pacific Premier Bancorp, Inc.	11,826		418,049
Park National Corp.	2,050		269,329
Preferred Bank	2,910		215,602
Provident Financial Services, Inc.	14,360		336,024
Renasant Corp.	9,410		314,765
Seacoast Banking Corp. of Florida	8,510		298,020
ServisFirst Bancshares, Inc. (b)	10,670		1,016,744

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
BANKING - 11.8% (Continued)
Simmons First National Corp. - Class A	15,560	$	407,983
Southside Bancshares, Inc.	4,987		203,619
Triumph Bancorp, Inc. (a)	5,040		473,861
Trustmark Corp.	3,750		113,963
United Community Banks, Inc.	15,290		532,092
Veritex Holdings, Inc.	13,050		498,119
Westamerica Bancorp.	2,130		128,865
WSFS Financial Corp.	10,230		476,923
			19,294,460
BEVERAGES - 0.7%
Celsius Holdings, Inc. (a)(b)	7,620		420,472
Coca-Cola Consolidated, Inc.	990		491,881
National Beverage Corp.	4,440		193,140
			1,105,493
BIOTECH & PHARMA - 2.9%
Anika Therapeutics, Inc. (a)(b)	9,560		240,051
Avid Bioservices, Inc. (a)(b)	13,350		271,939
Coherus Biosciences, Inc. (a)(b)	11,690		150,918
Cytokinetics, Inc. (a)	13,900		511,659
Emergent BioSolutions, Inc. (a)	8,680		356,401
Enanta Pharmaceuticals, Inc. (a)	4,260		303,227
Heska Corp. (a)(b)	1,950		269,646
Innoviva, Inc. (a)(b)	11,970		231,619
iTeos Therapeutics, Inc. (a)(b)	6,490		208,848
Ligand Pharmaceuticals, Inc. (a)(b)	2,760		310,472
Nektar Therapeutics (a)	17,900		96,481
Pacira BioSciences, Inc. (a)	4,030		307,570
Prestige Consumer Healthcare, Inc. (a)	8,640		457,402
REGENXBIO, Inc. (a)	5,140		170,597
Supernus Pharmaceuticals, Inc. (a)	8,430		272,458
uniQure N.V. (a)(b)	12,780		230,935
Vanda Pharmaceuticals, Inc. (a)	10,890		123,166
Xencor, Inc. (a)(b)	10,740		286,543
			4,799,932
CHEMICALS - 3.3%
AdvanSix, Inc.	7,480		382,153
Balchem Corp.	5,600		765,520
GCP Applied Technologies, Inc. (a)	6,470		203,287

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
CHEMICALS - 3.3% (Continued)
H.B. Fuller Co.	10,240	$	676,557
Innospec, Inc.	1,970		182,323
Materion Corp.	3,520		301,805
Quaker Chemical Corp. (b)	2,730		471,771
Rogers Corp. (a)	3,610		980,837
Stepan Co.	3,960		391,288
Trinseo plc	11,030		528,558
WD-40 Co. (b)	2,500		458,075
			5,342,174
COMMERCIAL SUPPORT SERVICES - 3.7%
ABM Industries, Inc.	13,350		614,634
AMN Healthcare Services, Inc. (a)(b)	9,180		957,750
Brady Corp. - Class A	19,830		917,534
CorVel Corp. (a)(b)	2,390		402,572
Harsco Corp. (a)	14,500		177,480
Healthcare Services Group, Inc.	7,100		131,847
Heidrick & Struggles International, Inc.	6,300		249,354
Kelly Services, Inc. - Class A	11,930		258,762
Korn Ferry	8,880		576,667
TrueBlue, Inc. (a)	27,600		797,364
UniFirst Corp.	1,790		329,861
US Ecology, Inc. (a)	9,930		475,448
Viad Corp. (a)	5,500		196,020
			6,085,293
CONSTRUCTION MATERIALS - 0.1%
Apogee Enterprises, Inc.	4,720		224,011
CONSUMER SERVICES - 1.2%
Adtalem Global Education, Inc. (a)	27,490		816,728
American Public Education, Inc. (a)	7,960		169,071
Medifast, Inc.	1,780		303,988
Perdoceo Education Corp. (a)	16,740		192,175
Strategic Education, Inc. (b)	4,060		269,503
WW International, Inc. (a)	13,630		139,435
			1,890,900
CONTAINERS & PACKAGING - 0.3%
Myers Industries, Inc.	10,120		218,592

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
CONTAINERS & PACKAGING - 0.3% (Continued)
O-I Glass, Inc. (a)	22,780	$	300,240
			518,832
E-COMMERCE DISCRETIONARY - 0.1%
PetMed Express, Inc. (b)	8,210		211,818
ELECTRIC UTILITIES - 1.4%
Avista Corp.	24,940		1,126,041
Unitil Corp.	21,890		1,091,873
			2,217,914
ELECTRICAL EQUIPMENT - 2.3%
AAON, Inc.	8,190		456,429
Advanced Energy Industries, Inc.	6,290		541,443
Alarm.com Holdings, Inc. (a)	7,330		487,152
Badger Meter, Inc.	6,300		628,173
FARO Technologies, Inc. (a)	5,290		274,657
Itron, Inc. (a)	8,320		438,297
Mesa Laboratories, Inc. (b)	1,460		372,125
OSI Systems, Inc. (a)	2,550		217,056
SPX Corp. (a)	7,870		388,857
			3,804,189
ENGINEERING & CONSTRUCTION - 1.4%
Arcosa, Inc.	5,970		341,783
Comfort Systems USA, Inc.	5,920		526,939
Exponent, Inc.	5,980		646,139
Granite Construction, Inc.	7,530		246,984
Installed Building Products, Inc.	3,410		288,111
NV5 Holdings, Inc. (a)	2,110		281,263
			2,331,219
ENTERTAINMENT CONTENT - 0.2%
AMC Networks, Inc. - Class A (a)(b)	7,960		323,415
FOOD - 0.9%
B&G Foods, Inc. (b)	10,010		270,070
Hostess Brands, Inc. (a)	9,380		205,797
Simply Good Foods Co. (The) (a)	13,640		517,638
TreeHouse Foods, Inc. (a)	9,670		311,954

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
FOOD - 0.9% (Continued)
USANA Health Sciences, Inc. (a)	2,410	$	191,475
			1,496,934
FORESTRY, PAPER & WOOD PRODUCTS - 0.9%
Boise Cascade Co.	7,010		486,985
Glatfelter Corp.	11,660		144,351
Neenah, Inc.	4,380		173,711
UFP Industries, Inc.	9,070		699,841
			1,504,888
GAS & WATER UTILITIES - 2.0%
American States Water Co.	12,600		1,121,652
California Water Service Group	18,230		1,080,674
Middlesex Water Co. (b)	10,930		1,149,508
			3,351,834
HEALTH CARE FACILITIES & SERVICES - 3.2%
Addus HomeCare Corp. (a)	2,750		256,547
Apollo Medical Holdings, Inc. (a)	6,870		332,989
Community Health Systems, Inc. (a)	23,150		274,790
Covetrus, Inc. (a)(b)	21,810		366,190
Cross Country Healthcare, Inc. (a)	12,950		280,627
Ensign Group, Inc. (The)	8,010		720,980
Fulgent Genetics, Inc. (a)(b)	2,920		182,237
Joint Corp. (The) (a)	4,350		153,947
MEDNAX, Inc. (a)(b)	14,540		341,399
ModivCare, Inc. (a)	2,130		245,781
NeoGenomics, Inc. (a)	17,840		216,756
Owens & Minor, Inc. (b)	12,410		546,288
Pennant Group, Inc. (The) (a)	10,440		194,497
RadNet, Inc. (a)(b)	11,320		253,228
Select Medical Holdings Corp.	16,840		403,992
Tivity Health, Inc. (a)	9,700		312,049
U.S. Physical Therapy, Inc.	2,080		206,856
			5,289,153
HOME & OFFICE PRODUCTS - 0.5%
HNI Corp.	11,550		427,928
iRobot Corp. (a)	3,560		225,704
Tupperware Brands Corp. (a)	8,780		170,771
			824,403

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
HOME CONSTRUCTION - 2.3%
Cavco Industries, Inc. (a)(b)	1,500	$	361,275
Century Communities, Inc.	4,430		237,315
Century Communities, Inc. (a)	10,890		230,433
Interface, Inc.	74,880		1,016,122
LGI Homes, Inc. (a)	3,980		388,766
M/I Homes, Inc. (a)	3,510		155,669
MDC Holdings, Inc.	10,555		399,401
Meritage Homes Corp. (a)	6,110		484,095
Patrick Industries, Inc.	4,460		268,938
PGT Innovations, Inc. (a)	9,950		178,901
			3,720,915
HOUSEHOLD PRODUCTS - 0.5%
e.l.f. Beauty, Inc. (a)	8,410		217,230
Edgewell Personal Care Co. (b)	2,740		100,476
Inter Parfums, Inc.	2,400		211,320
Quanex Building Products Corp.	11,930		250,411
			779,437
INDUSTRIAL INTERMEDIATE PRODUCTS - 1.4%
AZZ, Inc.	4,910		236,858
EnPro Industries, Inc.	4,810		470,081
Gibraltar Industries, Inc. (a)	5,860		251,687
Insteel Industries, Inc. (b)	8,650		319,964
Mueller Industries, Inc.	4,360		236,181
Proto Labs, Inc. (a)	10,630		562,327
Standex International Corp.	2,030		202,838
			2,279,936
INDUSTRIAL SUPPORT SERVICES - 1.0%
Applied Industrial Technologies, Inc.	8,380		860,291
DXP Enterprises, Inc. (a)	5,460		147,911
Resideo Technologies, Inc. (a)	24,870		592,652
			1,600,854
INSTITUTIONAL FINANCIAL SERVICES - 0.4%
Piper Sandler Cos.	3,730		489,563
StoneX Group, Inc. (a)	2,410		178,894
			668,457
INSURANCE - 1.6%
Ambac Financial Group, Inc. (a)	10,910		113,464
American Equity Investment Life Holding Co.	12,570		501,669

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
INSURANCE - 1.6% (Continued)
Assured Guaranty Ltd.	6,380	$	406,151
eHealth, Inc. (a)	9,890		122,735
Employers Holdings, Inc.	3,240		132,905
Genworth Financial, Inc. - Class A (a)	86,690		327,688
NMI Holdings, Inc. - Class A (a)	9,380		193,415
Palomar Holdings, Inc. (a)	2,530		161,895
ProAssurance Corp.	8,450		227,136
SelectQuote, Inc. (a)	9,440		26,337
Trupanion, Inc. (a)(b)	4,260		379,651
			2,593,046
INTERNET MEDIA & SERVICES - 0.5%
Cars.com, Inc. (a)	16,270		234,776
Shutterstock, Inc. (b)	3,610		336,019
TechTarget, Inc. (a)	2,580		209,702
			780,497
LEISURE FACILITIES & SERVICES - 1.9%
Bloomin' Brands, Inc. (b)	18,470		405,232
Brinker International, Inc. (a)	6,840		261,014
Cheesecake Factory, Inc. (The) (a)	8,880		353,335
Chuy's Holdings, Inc. (a)(b)	6,950		187,650
Cinemark Holdings, Inc. (a)	24,860		429,581
Dave & Buster's Entertainment, Inc. (a)	9,190		451,229
Dine Brands Global, Inc. (b)	3,280		255,676
Jack in the Box, Inc.	2,680		250,339
Marcus Corp. (The) (a)	6,890		121,953
Shake Shack, Inc. - Class A (a)	5,830		395,857
			3,111,866
LEISURE PRODUCTS - 0.4%
LCI Industries	4,750		493,097
Winnebago Industries, Inc. (b)	3,720		200,992
			694,089
MACHINERY - 2.5%
Alamo Group, Inc.	1,800		258,822
Astec Industries, Inc.	2,380		102,340
Enerpac Tool Group Corp.	11,790		258,083
ESCO Technologies, Inc.	3,760		262,899
Franklin Electric Co., Inc.	6,300		523,152
Hillenbrand, Inc.	4,920		217,316

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
MACHINERY - 2.5% (Continued)
John Bean Technologies Corp.	5,325	$	630,853
Lindsay Corp.	3,140		493,011
SPX FLOW, Inc.	7,180		619,060
Tennant Co.	3,800		299,440
Titan International, Inc. (a)	33,750		497,138
			4,162,114
MEDICAL EQUIPMENT & DEVICES - 3.6%
AngioDynamics, Inc. (a)	4,960		106,839
Avanos Medical, Inc. (a)	13,540		453,590
CONMED Corp.	3,920		582,316
Cutera, Inc. (a)	3,160		218,040
Glaukos Corp. (a)	7,100		410,522
Inogen, Inc. (a)	4,340		140,703
Integer Holdings Corp. (a)	4,160		335,171
Lantheus Holdings, Inc. (a)	14,313		791,652
LeMaitre Vascular, Inc.	5,530		256,979
Meridian Bioscience, Inc. (a)	8,520		221,179
Merit Medical Systems, Inc. (a)(b)	10,140		674,513
Myriad Genetics, Inc. (a)	13,280		334,656
Omnicell, Inc. (a)	6,130		793,774
OraSure Technologies, Inc. (a)	14,750		100,005
Varex Imaging Corp. (a)(b)	8,210		174,791
Vericel Corp. (a)(b)	8,820		337,100
			5,931,830
METALS & MINING - 1.7%
Arconic Corp. (a)	22,370		573,120
Century Aluminum Co. (a)	11,050		290,726
Encore Wire Corp.	3,690		420,918
Kaiser Aluminum Corp.	2,990		281,538
Livent Corp. (a)	35,680		930,178
SunCoke Energy, Inc.	30,440		271,220
			2,767,700
OIL & GAS SERVICES & EQUIPMENT - 1.3%
Core Laboratories N.V.	40,380		1,277,219
DMC Global, Inc. (a)	3,490		106,445
NOW, Inc. (a)	35,760		394,433
U.S. Silica Holdings, Inc. (a)	16,680		311,249
			2,089,346

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
PUBLISHING & BROADCASTING - 0.4%
E.W. Scripps Co. (The) - Class A (a)	9,180	$	190,852
Gannett Co., Inc. (a)	44,487		200,636
Scholastic Corp.	8,410		338,755
			730,243
REAL ESTATE OWNERS & DEVELOPERS - 0.2%
St. Joe Co. (The)	5,140		304,494
REAL ESTATE SERVICES - 0.7%
Centerspace	3,050		299,266
Marcus & Millichap, Inc.	3,450		181,746
RE/MAX Holdings, Inc. - Class A	4,650		128,944
Realogy Holdings Corp. (a)	32,310		506,621
			1,116,577
REITS - 8.4%
Acadia Realty Trust	17,540		380,092
Agree Realty Corp.	9,030		599,231
Alexander & Baldwin, Inc.	14,570		337,878
American Assets Trust, Inc.	6,220		235,676
Armada Hoffler Properties, Inc.	12,440		181,624
ARMOUR Residential REIT, Inc. (b)	16,350		137,340
Brandywine Realty Trust	55,840		789,577
CareTrust REIT, Inc.	12,440		240,092
Chatham Lodging Trust (a)	14,320		197,473
DiamondRock Hospitality Co. (a)	41,780		421,978
Diversified Healthcare Trust	51,720		165,504
Easterly Government Properties, Inc.	9,670		204,424
Essential Properties Realty Trust, Inc.	4,580		115,874
Four Corners Property Trust, Inc.	4,460		120,598
Franklin BSP Realty Trust, Inc.	17,972		251,248
Franklin Street Properties Corp.	32,340		190,806
Getty Realty Corp.	8,140		232,967
Hersha Hospitality Trust (a)	18,960		172,157
Independence Realty Trust, Inc.	21,030		556,033
Industrial Logistics Properties Trust	9,300		210,831
Innovative Industrial Properties, Inc.	3,480		714,792
iStar, Inc.	14,210		332,656
Lexington Realty Trust	32,120		504,284
LTC Properties, Inc.	7,200		276,984

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
REITS - 8.4% (Continued)
Matson, Inc.	7,900	$	952,898
Office Properties Income Trust	8,060		207,384
Retail Opportunity Investments Corp.	15,690		304,229
RPT Realty	19,470		268,102
Safehold, Inc. (b)	3,430		190,193
Saul Centers, Inc.	3,420		180,234
Service Properties Trust	28,290		249,801
SITE Centers Corp.	33,690		562,960
Summit Hotel Properties, Inc. (a)(b)	23,710		236,152
Tanger Factory Outlet Centers, Inc.	23,000		395,370
Two Harbors Investment Corp. (b)	41,120		227,394
Uniti Group, Inc.	35,680		490,957
Universal Health Realty Income Trust	3,390		197,874
Urstadt Biddle Properties, Inc. - Class A	16,730		314,691
Veris Residential, Inc. (a)	20,870		362,929
Washington Real Estate Investment Trust	21,530		549,015
Whitestone REIT (a)	11,640		154,230
Xenia Hotel & Resorts, Inc. (a)	18,240		351,850
			13,766,382
RENEWABLE ENERGY - 0.5%
FutureFuel Corp. (b)	18,910		183,994
Green Plains, Inc. (a)	10,370		321,574
Renewable Energy Group, Inc. (a)	5,840		354,196
			859,764
RETAIL - CONSUMER STAPLES - 0.9%
Big Lots, Inc.	5,740		198,604
OptimizeRx, Corp. (a)	5,000		188,550
PriceSmart, Inc.	2,690		212,160
SpartanNash Co.	28,990		956,380
			1,555,694
RETAIL - DISCRETIONARY - 4.9%
Abercrombie & Fitch Co. - Class A (a)(b)	13,550		433,464
Academy Sports & Outdoors, Inc.	7,020		276,588
America's Car-Mart, Inc. (a)	1,440		116,006
Asbury Automotive Group, Inc. (a)(b)	3,100		496,620
Bed Bath & Beyond, Inc. (a)(b)	19,560		440,687
Boot Barn Holdings, Inc. (a)(b)	4,560		432,242
Buckle, Inc. (The)	5,380		177,755

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
RETAIL - DISCRETIONARY - 4.9% (Continued)
Caleres, Inc.	10,210	$	197,359
Chico's FAS, Inc. (a)(b)	40,780		195,744
Children's Place, Inc. (The) (a)	4,250		209,525
Conn's, Inc. (a)	5,180		79,824
Designer Brands, Inc. - Class A (a)(b)	11,180		151,042
Ethan Allen Interiors, Inc. (b)	16,450		428,851
Genesco, Inc. (a)(b)	3,300		209,913
GMS, Inc. (a)	7,050		350,879
Group 1 Automotive, Inc.	3,050		511,882
Guess?, Inc. (b)	9,260		202,331
Hibbett, Inc.	5,140		227,908
La-Z-Boy, Inc.	6,970		183,799
Lumber Liquidators Holdings, Inc. (a)	8,400		117,768
MarineMax, Inc. (a)	10,070		405,418
Monro, Inc. (b)	6,250		277,125
ODP Corp. (The) (a)	7,677		351,837
Sally Beauty Holdings, Inc. (a)(b)	15,060		235,388
Shoe Carnival, Inc. (a)(b)	790		23,036
Signet Jewelers Ltd.	10,990		798,973
Sleep Number Corp. (a)(b)	4,070		206,390
Sonic Automotive, Inc. - Class A (b)	4,410		187,469
Zumiez, Inc. (a)(b)	4,180		159,718
			8,085,541
SEMICONDUCTORS - 3.8%
Axcelis Technologies, Inc. (a)	11,700		883,701
CEVA, Inc. (a)	4,260		173,169
Cohu, Inc. (a)(b)	7,270		215,192
CTS Corp.	6,010		212,393
Diodes, Inc. (a)	6,230		541,948
FormFactor, Inc. (a)	11,450		481,244
Kulicke & Soffa Industries, Inc. (b)	9,850		551,797
MaxLinear, Inc. (a)	12,360		721,206
Onto Innovation, Inc. (a)(b)	12,887		1,119,751
Photronics, Inc. (a)	16,690		283,229
Rambus, Inc. (a)	13,445		428,761
Ultra Clean Holdings, Inc. (a)	7,410		314,110
Veeco Instruments, Inc. (a)	8,620		234,378
			6,160,879

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
SOFTWARE - 2.8%
Agilysys, Inc. (a)	6,190	$	246,857
Allscripts Healthcare Solutions, Inc. (a)	16,430		370,004
Bottomline Technologies (de), Inc. (a)	9,980		565,666
Cerence, Inc. (a)	3,270		118,047
Consensus Cloud Solutions, Inc. (a)	2,110		126,874
Digi International, Inc. (a)(b)	11,930		256,734
Donnelley Financial Solutions, Inc. (a)	6,550		217,853
Ebix, Inc.	7,800		258,570
LivePerson, Inc. (a)	9,500		231,990
Loyalty Ventures, Inc. (a)	9,260		153,068
NextGen Healthcare, Inc. (a)	7,250		151,597
PDF Solutions, Inc. (a)	9,190		256,125
Progress Software Corp.	6,410		301,847
Simulations Plus, Inc. (b)	4,890		249,292
SPS Commerce, Inc. (a)	5,620		737,344
Thryv Holdings, Inc. (a)	9,180		258,142
Xperi Holding Corp.	7,331		126,973
			4,626,983
SPECIALTY FINANCE - 3.1%
Apollo Commercial Real Estate Finance, Inc.	31,690		441,442
Deluxe Corp.	18,520		560,045
Ellington Financial, Inc.	7,330		130,107
Encore Capital Group, Inc. (a)(b)	7,690		482,394
Enova International, Inc. (a)	7,260		275,662
Granite Point Mortgage Trust, Inc.	14,530		161,574
Invesco Mortgage Capital, Inc. (b)	88,761		202,375
KKR Real Estate Finance Trust, Inc. (b)	6,670		137,469
LendingTree, Inc. (a)	2,130		254,897
Mr. Cooper Group, Inc. (a)	10,090		460,810
New York Mortgage Trust, Inc.	44,650		162,972
PennyMac Mortgage Investment Trust	15,630		263,991
PRA Group, Inc. (a)(b)	6,040		272,283
Redwood Trust, Inc.	19,810		208,599
Stewart Information Services Corp.	3,830		232,136
Walker & Dunlop, Inc.	5,200		672,984
World Acceptance Corp. (a)(b)	1,220		234,045
			5,153,785

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
STEEL - 0.5%
Allegheny Technologies, Inc. (a)	13,280	$	356,435
Carpenter Technology Corp.	3,100		130,138
TimkenSteel Corp. (a)	17,280		378,087
			864,660
TECHNOLOGY HARDWARE - 4.1%
3D Systems Corp. (a)	16,470		274,720
ADTRAN, Inc.	14,390		265,495
Arlo Technologies, Inc. (a)	13,820		122,445
Benchmark Electronics, Inc.	7,800		195,312
CalAmp Corp. (a)	21,620		158,042
Comtech Telecommunications Corp.	7,460		117,047
Diebold Nixdorf, Inc. (a)	14,170		95,364
Extreme Networks, Inc. (a)	29,990		366,178
Fabrinet (a)	9,090		955,632
Harmonic, Inc. (a)(b)	17,410		161,739
InterDigital, Inc.	4,780		304,964
Knowles Corp. (a)	18,120		390,124
NetScout Systems, Inc. (a)	11,780		377,902
Pitney Bowes, Inc.	89,670		466,284
Plantronics, Inc. (a)(b)	5,500		216,700
Plexus Corp. (a)(b)	4,900		400,869
Sanmina Corp. (a)	13,090		529,098
Sonos, Inc. (a)	4,040		114,009
TTM Technologies, Inc. (a)	16,420		243,344
Universal Electronics, Inc. (a)	5,820		181,817
Viavi Solutions, Inc. (a)	44,640		717,811
			6,654,896
TECHNOLOGY SERVICES - 2.3%
CSG Systems International, Inc.	3,800		241,566
EVERTEC, Inc.	10,810		442,453
ExlService Holdings, Inc. (a)	5,430		777,956
Green Dot Corp. - Class A (a)	7,600		208,848
Insight Enterprises, Inc. (a)	8,860		950,855
Perficient, Inc. (a)	5,160		568,064
TTEC Holdings, Inc.	3,630		299,548
Unisys Corp. (a)	10,560		228,202
			3,717,492

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
TELECOMMUNICATIONS - 1.1%
8x8, Inc. (a)	7,640	$	96,187
Cogent Communications Holdings, Inc.	5,100		338,385
Consolidated Communications Holdings, Inc. (a)	29,970		176,823
Telephone and Data Systems, Inc.	17,960		339,085
Vonage Holdings Corp. (a)	44,810		909,195
			1,859,675
TRANSPORTATION & LOGISTICS - 2.4%
Allegiant Travel Co. (a)(b)	2,610		423,838
ArcBest Corp. (b)	6,890		554,645
Atlas Air Worldwide Holdings, Inc. (a)	7,090		612,363
Bristow Group, Inc. (a)	8,623		319,741
Forward Air Corp.	5,730		560,280
Hawaiian Holdings, Inc. (a)	10,110		199,167
Heartland Express, Inc.	8,100		113,967
Hub Group, Inc. - Class A (a)	6,640		512,674
Marten Transport Ltd.	18,180		322,877
SkyWest, Inc. (a)	8,860		255,611
			3,875,163
TRANSPORTATION EQUIPMENT - 0.4%
Greenbrier Cos., Inc. (The)	6,020		310,090
Meritor, Inc. (a)	11,970		425,773
			735,863
WHOLESALE - CONSUMER STAPLES - 1.4%
Andersons, Inc. (The)	27,150		1,364,559
Chefs' Warehouse, Inc. (The) (a)	9,000		293,400
United Natural Foods, Inc. (a)	14,890		615,701
			2,273,660
WHOLESALE - DISCRETIONARY - 1.4%
ePlus, Inc. (a)	4,560		255,634
G-III Apparel Group Ltd. (a)	9,060		245,073
KAR Auction Services, Inc. (a)	22,240		401,432
PC Connection, Inc.	2,970		155,598
ScanSource, Inc. (a)	23,700		824,523
Veritiv Corp. (a)(b)	3,640		486,268
			2,368,528
TOTAL COMMON STOCKS (COST $122,294,540)		$	161,731,864

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
RIGHTS - 0.0% (c)				Shares		Fair Value
MDEDICAL EQUIPMENT & DEVICES - 0.0% (c)
Lantheus Holdings, Inc., CVR (a)(d)(e) (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	$	70,000
Calvert Social Investment Foundation, Inc. (d)	0.400	%	12/15/22		110,000		110,000
Calvert Social Investment Foundation, Inc. (d)	3.000	%	06/15/23		330,000		330,000
Calvert Social Investment Foundation, Inc. (d)	3.000	%	12/15/23		330,000		330,000
Calvert Social Investment Foundation, Inc. (d)	1.000	%	06/14/24		100,000		94,744
Calvert Social Investment Foundation, Inc. (d)	3.000	%	06/17/24		60,000		60,000
Calvert Social Investment Foundation, Inc. (d)	3.000	%	12/15/24		90,000		90,000
Calvert Social Investment Foundation, Inc. (d)	2.500	%	06/13/25		150,000		144,014
Calvert Social Investment Foundation, Inc. (d)	2.500	%	12/15/25		280,000		280,000
TOTAL CORPORATE NOTES (COST $1,520,000)						$	1,508,758
MONEY MARKET FUNDS - 0.7%					Shares		Fair Value
First American Government Obligations Fund - Class X, 0.03% (f) (COST $1,149,927)					1,149,927	$	1,149,927

Schedule of Portfolio Investments (Continued)
Praxis Small Cap Index Fund
INVESTMENT PURCHASED WITH THE CASH PROCEEDS FROM SECURITIES LENDING - 15.1%	Shares		Fair Value
Mount Vernon Liquid Assets Portfolio, LLC, 0.41% (f)(g)  (COST $24,817,749)	24,817,749	$	24,817,749
TOTAL INVESTMENTS - (COST $149,782,216) - 115.3%		$	189,210,906
LIABILITIES IN EXCESS OF OTHER ASSETS - (15.3%)			(25,093,466	)
NET ASSETS - 100.0%		$	164,117,440

(a)	Non-income producing security.
(b)	All or a portion of the security is on loan.  The total fair value of the securities on loan as of March 31, 2022 was $23,894,608.
(c)	Percentage rounds to less than 0.1%.
(d)	Restricted and/or illiquid securities not registered under the Securities Act of 1933 are as follows:

	Acquisition	Current		Fair		% of Net
	Date	Cost		Value		Assets
Calvert Social Investment Foundation, Inc.  2.000%, 06/15/22	06/17/19	$	70,000	$	70,000		0.0	%(c)
Calvert Social Investment Foundation, Inc.  0.400%, 12/15/22	12/15/21		110,000		110,000		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 06/15/23	06/18/18		330,000		330,000		0.2	%
Calvert Social Investment Foundation, Inc.  3.000%, 12/15/23	12/17/18		330,000		330,000		0.2	%
Calvert Social Investment Foundation, Inc.  1.000%, 06/14/24	06/15/21		100,000		94,744		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 06/17/24	06/17/19		60,000		60,000		0.0	%(c)
Calvert Social Investment Foundation, Inc.  3.000%, 12/13/24	12/12/19		90,000		90,000		0.0	%(c)
Calvert Social Investment Foundation, Inc.  2.500%, 06/13/25	06/12/20		150,000		144,014		0.1	%
Calvert Social Investment Foundation, Inc.  2.500%, 12/15/25	12/15/20		280,000		280,000		0.2	%
Lantheus Holdings, Inc., CVR	06/22/20		-		2,608		0.0	%(c)
		$	1,520,000	$	1,511,366		0.9	%

(e)	Security value has been determined in good faith pursuant to procedures adopted by the Board of Trustees. The total fair value of such securities was $2,608 as of March 31, 2022, representing 0.0% (c) of net assets.
(f)	The rate shown is the 7-day effective yield as of March 31, 2022.
(g)	The security was purchased with cash collateral received from securities on loan.

plc - Public Liability Company

REIT - Real Estate Investment Trust

Schedule of Portfolio Investments
Praxis Genesis Conservative Portfolio
March 31, 2022 (Unaudited)
AFFILIATED MUTUAL FUNDS - 100.0%	Shares		Fair Value
DEBT FUND - 68.6%
Praxis Impact Bond Fund - Class I	1,849,635	$	18,625,825
EQUITY FUND - 31.4%
Praxis Growth Index Fund - Class I	68,120		2,679,144
Praxis International Index Fund - Class I	197,846		2,530,454
Praxis Small Cap Index Fund - Class I	61,081		684,718
Praxis Value Index Fund - Class I	155,531		2,616,026
			8,510,342
TOTAL AFFILIATED MUTUAL FUNDS (COST $23,564,639)		$	27,136,167
MONEY MARKET FUNDS - 0.0% (a)	Shares		Fair Value
First American Government Obligations Fund - Class X, 0.03% (b) (COST $6,089)	6,089	$	6,089
TOTAL INVESTMENTS - (COST $23,570,728) - 100.0%		$	27,142,256
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.0%) (a)			(3,410	)
NET ASSETS - 100.0%		$	27,138,846

(a)	Percentage rounds to less than 0.1%.
(b)	The rate shown is the 7-day effective yield as of March 31, 2022.

Schedule of Portfolio Investments
Praxis Genesis Balanced Portfolio
March 31, 2022 (Unaudited)
AFFILIATED MUTUAL FUNDS - 100.0%	Shares		Fair Value
DEBT FUND - 38.6%
Praxis Impact Bond Fund - Class I	3,455,871	$	34,800,617
EQUITY FUND - 61.4%
Praxis Growth Index Fund - Class I	385,514		15,162,252
Praxis International Index Fund - Class I	1,291,075		16,512,855
Praxis Small Cap Index Fund - Class I	799,144		8,958,406
Praxis Value Index Fund - Class I	880,132		14,803,818
			55,437,331
TOTAL AFFILIATED MUTUAL FUNDS (COST $66,946,393)		$	90,237,948
MONEY MARKET FUNDS - 0.0% (a)	Shares		Fair Value
First American Government Obligations Fund - Class X, 0.03% (b) (COST $1,246)	1,246	$	1,246
TOTAL INVESTMENTS - (COST $66,947,639) - 100.0%		$	90,239,194
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.0%) (a)			(35,167	)
NET ASSETS - 100.0%		$	90,204,027

(a)	Percentage rounds to less than 0.1%.
(b)	The rate shown is the 7-day effective yield as of March 31, 2022.

Schedule of Portfolio Investments
Praxis Genesis Growth Portfolio
March 31, 2022 (Unaudited)
AFFILIATED MUTUAL FUNDS - 100.0%	Shares		Fair Value
DEBT FUND - 19.1%
Praxis Impact Bond Fund - Class I	1,814,384	$	18,270,846
EQUITY FUND - 80.9%
Praxis Growth Index Fund - Class I	518,705		20,400,653
Praxis International Index Fund - Class I	1,807,523		23,118,215
Praxis Small Cap Index Fund - Class I	1,258,810		14,111,262
Praxis Value Index Fund - Class I	1,184,228		19,918,720
			77,548,850
TOTAL MUTUAL FUNDS (COST $65,735,419)		$	95,819,696
AFFILIATED MONEY MARKET FUNDS - 0.0% (a)	Shares		Fair Value
First American Government Obligations Fund - Class X, 0.03% (b) (COST $888)	888	$	888
TOTAL INVESTMENTS - (COST $65,736,307) - 100.0%		$	95,820,584
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.0%) (a)			(37,622	)
NET ASSETS - 100.0%		$	95,782,962

(a)	Percentage rounds to less than 0.1%.
(b)	The rate shown is the 7-day effective yield as of March 31, 2022.