Schedule of Portfolio Investments

Praxis Impact Bond Fund

March 31, 2023 (Unaudited)

MUNICIPAL BONDS - 1.0%	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	$	1,087,499
City of San Francisco, California, Public Utilities Comm. Water Rev., Series 2019-A		3.303	%	11/01/39			2,500,000		2,096,050
Findlay City School District, Series 2010-B		6.250	%	12/01/37			270,000		270,467
Houston, Texas, Independent School District, Series 2009A-2		6.168	%	02/15/34			1,000,000		1,002,010
Massachusetts St., Series 2016-F		3.277	%	06/01/46			3,100,000		2,427,331
New Jersey St. Housing & Mortgage Finance, Series 2013-C		2.600	%	07/01/23			30,000		29,978
Osceola County Housing Finance Authority Rev., Series 2013-B		3.350	%	07/01/23			25,000		24,990
TOTAL MUNICIPAL BONDS (COST $8,249,559)								$	6,938,325
CORPORATE BONDS - 38.2%	Coupon			Maturity		Principal Amount		Fair Value
APPAREL & TEXTILE PRODUCTS - 0.1%
VF Corp.		2.400	%	04/23/25		$	536,000	$	505,256
ASSET MANAGEMENT - 0.1%
Ameriprise Financial, Inc.		3.000	%	04/02/25			730,000		702,003
AUTOMOTIVE - 0.5%
BMW US Capital, LLC (a)		3.800	%	04/06/23			1,000,000		999,896
BorgWarner, Inc.		2.650	%	07/01/27			601,000		551,033
Honda Motor Co. Ltd. (b)		2.967	%	03/10/32			760,000		682,019
Hyundai Capital Services, Inc. (a)		1.250	%	02/08/26			200,000		179,598
Magna International, Inc.		2.450	%	06/15/30			1,250,000		1,060,631
									3,473,177
BANKING - 4.4%
Bank of America Corp., Series N		0.981	%	09/25/25			1,500,000		1,399,634
Bank of America Corp., Series N		2.456	%	10/22/25			1,000,000		951,952

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund

CORPORATE BONDS - 38.2% (Continued)	Coupon			Maturity	Principal Amount		Fair Value
BANKING - 4.4% (Continued)
Bank of America Corp., Series N		1.530	%	12/06/25	$	2,000,000	$	1,869,861
Bank of America Corp., Series N		4.271	%	07/23/29		1,000,000		962,881
Bank of America Corp., Series N		2.572	%	10/20/32		1,500,000		1,225,969
Bank of Montreal		3.300	%	02/05/24		1,000,000		981,112
Bank of Montreal		5.203	%	02/01/28		1,750,000		1,764,306
Citigroup, Inc.		1.678	%	05/15/24		1,250,000		1,244,863
Citigroup, Inc.		3.700	%	01/12/26		1,750,000		1,693,443
Citigroup, Inc.		2.014	%	01/25/26		1,000,000		941,513
Citigroup, Inc.		2.572	%	06/03/30		1,000,000		843,709
ING Groep N.V. (a)		4.625	%	01/06/26		1,250,000		1,227,106
JPMorgan Chase & Co.		0.653	%	09/16/24		1,000,000		977,579
JPMorgan Chase & Co.		0.563	%	02/16/25		500,000		479,204
JPMorgan Chase & Co.		3.200	%	06/15/26		2,557,000		2,450,281
JPMorgan Chase & Co.)		2.739	%	10/15/30		2,000,000		1,745,938
KeyBank National Association		4.150	%	08/08/25		1,000,000		945,470
Mitsubishi UFJ Financial Group		2.527	%	09/13/23		1,250,000		1,233,176
National Australia Bank, New York Branch		3.625	%	06/20/23		1,750,000		1,744,610
PNC Financial Services Group, Inc. (The) (b)		4.758	%	01/26/27		500,000		493,818
Regions Financial Corp.		2.250	%	05/18/25		1,000,000		919,912
State Street Corp.		7.350	%	06/15/26		1,000,000		1,068,384
State Street Corp.		4.164	%	08/04/33		195,000		183,446
Sumitomo Mitsui Financial Group, Inc.		0.508	%	01/12/24		2,000,000		1,923,547
Toronto-Dominion Bank (SOFR + 45) (c)		3.977	%	09/28/23		2,000,000		1,998,201
Truist Financial Corp (SOFR + 60.90) (c)		1.267	%	03/02/27		1,000,000		880,698
								32,150,613
BEVERAGES - 0.2%
Coca-Cola Co. (The)		3.450	%	03/25/30		500,000		480,679
Coca-Cola Femsa S.A.B. de C.V. (b)		1.850	%	09/01/32		1,000,000		778,648
								1,259,327
BIOTECH & PHARMA - 0.6%
AbbVie, Inc.		2.950	%	11/21/26		500,000		475,744
Amgen, Inc.		3.000	%	02/22/29		2,500,000		2,299,222
Gilead Sciences, Inc.		3.650	%	03/01/26		750,000		734,159

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund                                

CORPORATE BONDS - 38.2% (Continued)	Coupon			Maturity	Principal Amount		Fair Value
BIOTECH & PHARMA - 0.6% (Continued)
Zeneca Wilmington, Inc.		7.000	%	11/15/23	$	1,100,000	$	1,111,298
								4,620,423
CABLE & SATELLITE - 0.3%
Comcast Corp.		3.300	%	04/01/27		500,000		480,506
Comcast Corp. (b)		4.650	%	02/15/33		1,000,000		1,005,097
Comcast Corp.		2.937	%	11/01/56		672,000		447,319
Time Warner Cable, Inc.		4.500	%	09/15/42		500,000		383,976
								2,316,898
CHEMICALS - 0.9%
Avery Dennison Corp.		2.650	%	04/30/30		1,250,000		1,067,396
DowDuPont, Inc.		4.493	%	11/15/25		1,500,000		1,497,694
Ecolab, Inc.		4.800	%	03/24/30		140,000		142,551
Ecolab, Inc.		2.750	%	08/18/55		1,470,000		940,992
LG Chemical Ltd. (a)		3.250	%	10/15/24		290,000		282,065
Nutrien Ltd.		1.900	%	05/13/23		800,000		796,416
Nutrien Ltd.		5.875	%	12/01/36		840,000		872,314
Solvay Finance S.A. (a)		4.450	%	12/03/25		1,250,000		1,217,465
								6,816,893
CONSTRUCTION MATERIALS - 0.3%
Carlisle Cos., Inc.		3.500	%	12/01/24		1,250,000		1,222,070
Owens Corning		4.200	%	12/01/24		1,000,000		989,739
Owens Corning		3.950	%	08/15/29		300,000		282,615
								2,494,424
CONSUMER SERVICES - 4.8%
Andrew W. Mellon Funding		0.947	%	08/01/27		1,050,000		917,076
California Endowment (The)		2.498	%	04/01/51		4,500,000		2,961,541
Conservation Fund, Series 2019		3.474	%	12/15/29		535,000		459,867
Ford Foundation (The), Series 2017		3.859	%	06/01/47		2,485,000		2,166,498
Ford Foundation (The), Series 2020		2.415	%	06/01/50		235,000		155,672
John D. & Catherine T. MacArthur Foundation, Series 2020		1.299	%	12/01/30		1,500,000		1,171,299
Leland Stanford Junior University (The)		3.460	%	05/01/47		2,415,000		2,028,804
Local Initiatives Support Corp.		4.649	%	03/01/37		1,500,000		1,432,205
Massachusetts Institute of Technology		3.959	%	07/01/38		1,500,000		1,431,515
Massachusetts Institute of Technology, Series H		3.067	%	04/01/52		4,000,000		3,118,109

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund

CORPORATE BONDS - 38.2% (Continued)	Coupon			Maturity	Principal Amount		Fair Value
CONSUMER SERVICES - 4.8% (Continued)
President & Fellows of Harvard College, Series 2016-B		3.150	%	07/15/46	$	3,961,000	$	3,130,311
President & Fellows of Harvard College, Series 2020-B		2.517	%	10/15/50		1,300,000		890,717
President & Fellows of Harvard College, Series 2022-A		3.745	%	11/15/52		500,000		435,298
Rockefeller Foundation (The)		2.492	%	10/01/50		1,800,000		1,191,945
Stanford University California, Series 2020-A		2.413	%	06/01/50		3,450,000		2,305,495
Trustees of Princeton University (The) (b)		2.516	%	07/01/50		6,650,000		4,556,815
University of Notre Dame, Series 2017		3.394	%	02/15/48		3,424,000		2,842,734
Yale University		2.402	%	04/15/50		5,665,000		3,818,754
								35,014,655
CONTAINERS & PACKAGING - 0.3%
CCL Industries, Inc. (a)		3.050	%	06/01/30		1,750,000		1,485,028
Sonoco Products Co.		5.750	%	11/01/40		1,000,000		1,019,318
								2,504,346
DIVERSIFIED INDUSTRIALS - 0.1%
Illinois Tool Works, Inc.		3.900	%	09/01/42		1,000,000		899,566
ELECTRIC UTILITIES - 6.0%
Ameren Illinois Co.		5.900	%	12/01/52		2,250,000		2,513,437
Avangrid, Inc.		3.150	%	12/01/24		1,800,000		1,744,451
Avista Corp.		4.000	%	04/01/52		1,000,000		844,627
Caledonia Generating, LLC (a)		1.950	%	02/28/34		1,734,044		1,497,251
CenterPoint Energy, Inc., Series AL		5.300	%	04/01/53		1,000,000		1,035,027
Consolidated Edison Co.		3.350	%	04/01/30		1,000,000		921,262
DTE Electric Co.		4.050	%	05/15/48		1,750,000		1,494,589
DTE Electric Co.		3.650	%	03/01/52		500,000		398,390
Duke Energy Carolinas, LLC		3.550	%	03/15/52		2,200,000		1,713,260
Duke Energy Progress, LLC		3.450	%	03/15/29		1,750,000		1,635,942
Duke Energy Progress, LLC		4.000	%	04/01/52		1,500,000		1,247,338
Electricite de France S.A. (a)(b)		3.625	%	10/13/25		1,250,000		1,217,487
Enel Finance International N.V. (a)		2.650	%	09/10/24		1,250,000		1,206,705
Florida Power & Light Co.		3.700	%	12/01/47		1,300,000		1,076,673
Florida Power & Light Co.		2.875	%	12/04/51		2,000,000		1,403,477
Georgia Power Co.		3.250	%	04/01/26		1,000,000		954,182

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund                                

CORPORATE BONDS - 38.2% (Continued)	Coupon			Maturity	Principal Amount		Fair Value
ELECTRIC UTILITIES - 6.0% (Continued)
Interstate Power & Light Co.		3.600	%	04/01/29	$	1,250,000	$	1,169,005
Liberty Utilities Financial Services (a)		2.050	%	09/15/30		1,355,000		1,064,822
MidAmerican Energy Co.		3.950	%	08/01/47		1,750,000		1,493,511
Midland Cogeneration Venture, L.P. (a)		6.000	%	03/15/25		156,731		160,024
Narragansett Electric Co. (a)		3.395	%	04/09/30		1,500,000		1,372,785
National Rural Utilities		1.350	%	03/15/31		1,000,000		770,356
NextEra Energy Capital Holdings, Inc.		6.051	%	03/01/25		500,000		508,651
Niagara Mohawk Power Corp. (a)		1.960	%	06/27/30		1,500,000		1,217,055
Northern States Power Co.		2.900	%	03/01/50		1,250,000		882,770
NSTAR Electric Co.		3.950	%	04/01/30		600,000		580,941
NSTAR Electric Co.		5.500	%	03/15/40		1,250,000		1,303,891
Potomac Electric Power Co.		6.500	%	11/15/37		1,000,000		1,134,740
Public Service Co.		3.700	%	06/15/28		1,750,000		1,691,353
Public Service Electric and Gas Co.		4.650	%	03/15/33		2,500,000		2,510,756
Puget Energy, Inc.		4.223	%	06/15/48		1,000,000		865,195
Rochester Gas & Electric Corp. (a)		1.850	%	12/01/30		500,000		395,684
San Diego Gas and Electric Co.		4.500	%	08/15/40		841,000		781,242
Solar Star Funding, LLC (a)		3.950	%	06/30/35		251,772		220,876
Solar Star Funding, LLC (a)		5.375	%	06/30/35		393,332		401,848
Southern California Edison		4.050	%	03/15/42		1,165,000		965,807
Tenaska Virginia Partners, L.P. (a)		6.119	%	03/30/24		161,671		159,670
Topaz Solar Farms, LLC (a)(b)		4.875	%	09/30/39		225,923		185,257
Topaz Solar Farms, LLC (a)		5.750	%	09/30/39		537,504		508,866
Union Electric Co.		2.625	%	03/15/51		2,000,000		1,310,018
Westar Energy, Inc.		2.550	%	07/01/26		1,292,000		1,211,317
								43,770,538
ELECTRICAL EQUIPMENT - 0.3%
Johnson Controls International plc		1.750	%	09/15/30		1,000,000		823,650
Legrand S.A.		8.500	%	02/15/25		1,000,000		1,070,570
Roper Technologies, Inc.		2.000	%	06/30/30		440,000		362,432
								2,256,652
ENTERTAINMENT CONTENT - 0.2%
Magallanes, Inc. (a)		4.054	%	03/15/29		1,500,000		1,395,200
FOOD - 1.3%
Campbell Soup Co.		3.950	%	03/15/25		1,500,000		1,473,087

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund                                

CORPORATE BONDS - 38.2% (Continued)	Coupon			Maturity	Principal Amount		Fair Value
FOOD - 1.3% (Continued)
Cargill, Inc. (a)		4.760	%	11/23/45	$	1,500,000	$	1,438,176
General Mills, Inc.		4.000	%	04/17/25		1,500,000		1,479,670
Hormel Foods Corp.		1.800	%	06/11/30		2,250,000		1,878,866
Ingredion, Inc.		2.900	%	06/01/30		1,000,000		877,947
Kellogg Co.		2.650	%	12/01/23		1,250,000		1,238,055
Mars, Inc. (a)		3.600	%	04/01/34		1,500,000		1,355,982
								9,741,783
FORESTRY, PAPER & WOOD PRODUCTS - 0.1%
Fibria Overseas Finance Ltd. (b)		5.500	%	01/17/27		800,000		803,200
GAS & WATER UTILITIES - 0.4%
American Water Capital Corp.		2.800	%	05/01/30		1,500,000		1,335,166
Brooklyn Union Gas Co. (a)		4.504	%	03/10/46		1,250,000		1,030,841
Indiana Gas Co., Inc.		6.550	%	06/30/28		250,000		261,575
								2,627,582
HEALTH CARE FACILITIES & SERVICES - 0.2%
Kaiser Foundation Hospital		3.150	%	05/01/27		1,500,000		1,412,707
HOME & OFFICE PRODUCTS - 0.1%
Steelcase, Inc. (b)		5.125	%	01/18/29		1,000,000		898,870
HOME CONSTRUCTION - 0.1%
NVR, Inc.		3.000	%	05/15/30		1,000,000		879,539
INSTITUTIONAL FINANCIAL SERVICES - 1.3%
Brookfield Finance, Inc.		4.250	%	06/02/26		1,570,000		1,523,761
Goldman Sachs Group, Inc.		3.272	%	09/29/25		1,500,000		1,455,190
Goldman Sachs Group, Inc.		4.223	%	05/01/29		1,000,000		958,294
Goldman Sachs Group, Inc.		3.800	%	03/15/30		1,500,000		1,396,756
Morgan Stanley		3.125	%	07/27/26		2,000,000		1,894,073
Morgan Stanley, Series GMTN		2.699	%	01/22/31		1,250,000		1,076,506
National Securities Clearing Corp. (a)		1.500	%	04/23/25		1,000,000		934,102
								9,238,682

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund

CORPORATE BONDS - 38.2% (Continued)	Coupon			Maturity	Principal Amount		Fair Value
INSURANCE - 4.5%
Aflac, Inc.		4.000	%	10/15/46	$	1,058,000	$	859,132
Allstate Corp. (The)		5.250	%	03/30/33		1,000,000		1,011,044
Athene Global Funding (a)		2.800	%	05/26/23		1,500,000		1,491,887
F&G Global Funding		2.300	%	04/11/27		535,000		474,878
Fidelity National Financial, Inc.		3.400	%	06/15/30		500,000		437,469
First American Financial Corp.		2.400	%	08/15/31		1,500,000		1,159,548
Five Corners Funding Trust (a)		4.419	%	11/15/23		1,000,000		993,670
GA Global Funding Trust		2.250	%	01/06/27		2,000,000		1,744,862
Horace Mann Educators Corp.		4.500	%	12/01/25		1,235,000		1,202,821
Jackson National Life Global Funding		1.750	%	01/12/25		385,000		360,441
Jackson National Life Global Funding (a)		5.500	%	01/09/26		1,250,000		1,263,818
Kemper Corp.		4.350	%	02/15/25		1,250,000		1,233,551
Marsh & McLennan Cos., Inc.		3.750	%	03/14/26		1,000,000		978,158
Massachusetts Mutual Life Insurance Co. (a)		3.375	%	04/15/50		1,500,000		1,098,107
Met Life Global Funding I (a)		3.600	%	01/11/24		1,750,000		1,722,229
Met Life Global Funding I (a)		5.150	%	03/28/33		1,000,000		1,008,092
New York Life Global Funding (a)		2.900	%	01/17/24		3,000,000		2,953,710
Pacific Life Global Funding II, Series 2020-1 (a)		1.200	%	06/24/25		415,000		381,434
Pacific Life Global Funding II, Series 2021-1 (a)(b)		1.450	%	01/20/28		1,000,000		849,540
Primerica, Inc.		2.800	%	11/19/31		1,000,000		839,526
Principal Financial Group, Inc.		3.700	%	05/15/29		1,250,000		1,173,877
Protective Life Global Funding (a)		5.366	%	01/06/26		500,000		506,429
Prudential Financial, Inc.		1.500	%	03/10/26		644,000		587,382
Prudential Funding Asia plc		3.125	%	04/14/30		750,000		669,737
Reliance STD Life Insurance Co. (a)		2.750	%	05/07/25		1,280,000		1,215,298
RLI Corp.		4.875	%	09/15/23		1,000,000		996,987
Sammons Financial Group, Inc. (a)		4.450	%	05/12/27		1,200,000		1,131,290
Security Benefit Global, Series MTN (a)		1.250	%	05/17/24		1,500,000		1,422,473
Teachers Insurance & Annuity Association (3MO LIBOR + 266.10) (a)(c)		4.375	%	09/15/54		2,678,000		2,606,814
Trustage Financial Group, Inc.		4.625	%	04/15/32		400,000		357,988
								32,732,192
LEISURE FACILITIES & SERVICES - 0.4%
Marriott International, Inc.		3.600	%	04/15/24		727,000		713,231
McDonald's Corp., Series MTN		3.500	%	07/01/27		1,000,000		968,534

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund

CORPORATE BONDS - 38.2% (Continued)	Coupon			Maturity	Principal Amount		Fair Value
LEISURE FACILITIES & SERVICES - 0.4% (Continued)
Starbucks Corp.		2.450	%	06/15/26	$	1,000,000	$	938,611
								2,620,376
MACHINERY - 0.5%
Ingersoll-Rand Global Holding Co. Ltd.		6.391	%	11/15/27		655,000		694,171
John Deere Capital Corp.		1.750	%	03/09/27		250,000		227,197
John Deere Capital Corp.		3.050	%	01/06/28		1,250,000		1,187,772
Xylem, Inc.		1.950	%	01/30/28		1,775,000		1,570,925
								3,680,065
MEDICAL EQUIPMENT & DEVICES - 0.1%
Alcon Finance Corp. (a)		2.600	%	05/27/30		1,250,000		1,077,033
PERSONAL PRODUCTS - 0.1%
Estée Lauder Cos., Inc. (The)		2.600	%	04/15/30		1,000,000		895,792
PIPELINES - 0.1%
Northern Natural Gas Co. (a)		4.100	%	09/15/42		1,000,000		814,045
REITS - 3.5%
Agree Ltd. Partnership		2.900	%	10/01/30		650,000		552,369
Agree Ltd. Partnership		4.800	%	10/01/32		715,000		686,486
Alexandria Real Estate Equities, Inc.		2.950	%	03/15/34		1,000,000		799,817
Alexandria Real Estate Equities, Inc.		4.750	%	04/15/35		1,250,000		1,171,412
Boston Properties, L.P.		4.500	%	12/01/28		1,250,000		1,095,003
Camden Property Trust		2.800	%	05/15/30		1,500,000		1,299,145
Digital Realty Trust, L.P. (b)		5.550	%	01/15/28		2,250,000		2,241,280
ERP Operating, L.P.		4.150	%	12/01/28		1,250,000		1,204,790
ESSEX Portfolio, L.P. (b)		2.650	%	03/15/32		1,500,000		1,223,276
Federal Realty Investment Trust (b)		1.250	%	02/15/26		515,000		469,863
Kilroy Realty Corp.		2.500	%	11/15/32		1,750,000		1,116,437
Kimco Realty Corp.		2.700	%	10/01/30		1,750,000		1,457,884
Lexington Realty Trust		2.700	%	09/15/30		1,500,000		1,217,459

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund

CORPORATE BONDS - 38.2% (Continued)	Coupon			Maturity	Principal Amount		Fair Value
REITS - 3.5% (Continued)
Mid-America Apartment Communities, Inc.		3.950	%	03/15/29	$	1,750,000	$	1,677,090
Ontario Teachers Cadillac Fairview Properties Trust (a)		2.500	%	10/15/31		1,125,000		885,813
Prologis, L.P.		2.875	%	10/06/29		1,500,000		1,337,522
Prologis, L.P.		4.625	%	01/15/33		1,500,000		1,479,244
Regency Centers, L.P.		3.750	%	06/15/24		1,000,000		976,968
Rexford Industrial Realty, L.P.		5.000	%	06/15/28		210,000		207,177
Rexford Industrial Realty, L.P.		2.150	%	09/01/31		1,750,000		1,385,806
Sun Communities Operating, L.P.		2.700	%	07/15/31		500,000		404,399
Sun Communities Operating, L.P.		5.700	%	01/15/33		750,000		750,492
UDR, Inc.		1.900	%	03/15/33		1,000,000		747,502
Vornado Realty, L.P. (b)		3.500	%	01/15/25		567,000		512,506
WP Carey, Inc.		2.450	%	02/01/32		985,000		786,316
								25,686,056
RETAIL - CONSUMER STAPLES - 0.2%
Kroger Co. (The)		5.000	%	04/15/42		1,000,000		937,912
Walmart, Inc.		1.800	%	09/22/31		500,000		422,864
								1,360,776
RETAIL - DISCRETIONARY - 0.6%
ERAC USA Finance, LLC (a)		2.700	%	11/01/23		1,250,000		1,229,121
Home Depot, Inc.		3.625	%	04/15/52		1,000,000		804,781
Lowe's Cos., Inc.		4.650	%	04/15/42		1,000,000		898,694
Lowe's Cos., Inc. (b)		3.000	%	10/15/50		500,000		331,836
Lowe's Cos., Inc.		5.625	%	04/15/53		1,000,000		1,003,264
								4,267,696
SEMICONDUCTORS - 0.4%
Intel Corp. (b)		4.150	%	08/05/32		1,000,000		964,615
Intel Corp.		3.734	%	12/08/47		1,361,000		1,080,103
NVIDIA Corp. (b)		2.850	%	04/01/30		500,000		455,238
Skyworks Solutions, Inc.		0.900	%	06/01/23		500,000		495,799
								2,995,755
SOFTWARE - 0.5%
Microsoft Corp.		2.525	%	06/01/50		4,500,000		3,184,118
Microsoft Corp.		2.921	%	03/17/52		1,000,000		760,172
								3,944,290

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund

CORPORATE BONDS - 38.2% (Continued)	Coupon			Maturity	Principal Amount		Fair Value
SPECIALTY FINANCE - 1.0%
American Express Credit Corp.		3.000	%	10/30/24	$	1,000,000	$	968,236
BlueHub Loan Fund, Inc.		3.099	%	01/01/30		1,030,000		918,575
Community Preservation Corp. (The) (b)		2.867	%	02/01/30		1,750,000		1,457,662
GATX Corp.		4.350	%	02/15/24		300,000		296,255
Low Income Investment Fund		3.386	%	07/01/26		115,000		109,686
USAA Capital Corp. (a)		1.500	%	05/01/23		1,000,000		997,156
USAA Capital Corp. (a)		2.125	%	05/01/30		3,000,000		2,499,089
								7,246,659
STEEL - 0.1%
Nucor Corp.		2.000	%	06/01/25		460,000		432,525
TECHNOLOGY HARDWARE - 0.7%
Apple, Inc. (b)		3.000	%	06/20/27		1,000,000		965,797
Apple, Inc.		2.650	%	05/11/50		1,000,000		704,937
Apple, Inc.		2.650	%	02/08/51		2,000,000		1,401,508
HP, Inc.		4.750	%	01/15/28		1,100,000		1,087,332
HP, Inc. (b)		4.000	%	04/15/29		915,000		868,071
								5,027,645
TECHNOLOGY SERVICES - 0.4%
Experian Finance plc (a)		2.750	%	03/08/30		635,000		546,503
IBM Corp.		3.300	%	05/15/26		1,000,000		964,486
Moody's Corp.		3.250	%	05/20/50		500,000		361,358
Moody's Corp.		3.750	%	02/25/52		1,000,000		799,212
								2,671,559
TELECOMMUNICATIONS - 0.7%
AT&T, Inc.		5.250	%	03/01/37		500,000		500,035
AT&T, Inc.		4.750	%	05/15/46		1,500,000		1,354,685
Verizon Communications, Inc. (b)		3.875	%	02/08/29		1,000,000		966,179
Verizon Communications, Inc. (b)		1.500	%	09/18/30		1,000,000		809,680
Verizon Communications, Inc.		2.987	%	10/30/56		1,799,000		1,169,929
								4,800,508
TRANSPORTATION & LOGISTICS - 1.3%
British Airways, Series 2013-1 (a)		4.625	%	12/20/25		267,087		263,943
Burlington Northern Santa Fe, LLC		5.750	%	05/01/40		1,000,000		1,074,658

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund

CORPORATE BONDS - 38.2% (Continued)	Coupon			Maturity	Principal Amount		Fair Value
TRANSPORTATION & LOGISTICS - 1.3% (Continued)
Canadian Pacific Railway Co.		2.050	%	03/05/30	$	1,750,000	$	1,486,868
Mexico City Airport Trust (a)		4.250	%	10/31/26		497,000		477,120
Norfolk Southern Corp.		4.837	%	10/01/41		1,000,000		936,085
Norfolk Southern Corp.		3.050	%	05/15/50		1,500,000		1,038,171
Penske Truck Leasing Co. (a)		3.450	%	07/01/24		1,250,000		1,216,809
TTX Co. (a)		4.600	%	02/01/49		280,000		258,377
TTX Co.		5.650	%	12/01/52		500,000		537,205
Union Pacific Corp. (b)		4.950	%	09/09/52		2,000,000		2,032,852
								9,322,088
TRANSPORTATION EQUIPMENT - 0.2%
Ryder System, Inc.		5.650	%	03/01/28		1,250,000		1,266,476
WHOLESALE - CONSUMER STAPLES - 0.3%
Bunge Ltd. Finance Corp.		1.630	%	08/17/25		395,000		365,403
Sysco Corp.		2.400	%	02/15/30		1,750,000		1,528,631
								1,894,034
TOTAL CORPORATE BONDS (COST $310,947,235)							$	278,517,904

CORPORATE NOTES - 0.9%	Coupon			Maturity	Principal Amount		Fair Value
COMMUNITY DEVELOPMENT - 0.9%
Calvert Social Investment Foundation, Inc. (d)		3.000	%	06/15/23	$	1,650,000	$	1,638,726
Calvert Social Investment Foundation, Inc. (d)		3.000	%	12/15/23		950,000		930,618
Calvert Social Investment Foundation, Inc. (d)		1.000	%	06/14/24		550,000		520,172
Calvert Social Investment Foundation, Inc. (d)		3.000	%	06/17/24		980,000		948,709
Calvert Social Investment Foundation, Inc. (d)		3.000	%	12/15/24		400,000		382,692
Calvert Social Investment Foundation, Inc. (d)		2.500	%	06/13/25		1,400,000		1,311,296
Calvert Social Investment Foundation, Inc. (d)		2.500	%	12/15/25		650,000		601,872
Capital Impact Partners (d)		4.800	%	12/15/23		250,000		250,105
TOTAL CORPORATE NOTES (COST $6,830,000)							$	6,584,190

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund

FOREIGN GOVERNMENTS - 5.9%	Coupon			Maturity	Principal Amount		Fair Value
FOREIGN AGENCY - 0.6%
BNG Bank N.V. (a)(b)		1.500	%	10/16/24	$	1,500,000	$	1,433,313
BNG Bank N.V. (a)(b)		0.500	%	11/24/25		2,000,000		1,817,200
Kommunalbanken A.S. (a)		2.125	%	02/11/25		1,000,000		960,212
Kommunivest I Sverige AB, Series MTN (a)(b)		0.375	%	06/19/24		500,000		475,367
								4,686,092
SUPRANATIONAL - 5.3%
Asian Development Bank		2.125	%	03/19/25		1,000,000		961,081
Asian Development Bank		3.125	%	09/26/28		1,000,000		970,246
Central American Bank for Economic Integration (a)		1.140	%	02/09/26		1,200,000		1,088,005
European Bank for Reconstruction & Development		1.625	%	09/27/24		1,250,000		1,201,338
European Bank for Reconstruction & Development		1.500	%	02/13/25		200,000		190,494
European Investment Bank (b)		2.500	%	10/15/24		1,000,000		974,370
European Investment Bank (b)		2.125	%	04/13/26		1,000,000		950,353
European Investment Bank		2.375	%	05/24/27		4,000,000		3,794,680
Inter-American Development Bank		0.875	%	04/03/25		3,000,000		2,814,144
Inter-American Development Bank		4.375	%	01/24/44		3,000,000		3,078,562
International Bank for Reconstruction & Development		0.250	%	11/24/23		4,500,000		4,372,380
International Bank for Reconstruction & Development		0.625	%	04/22/25		1,000,000		931,981
International Bank for Reconstruction & Development		3.125	%	11/20/25		1,000,000		979,350
International Bank for Reconstruction & Development		0.875	%	07/15/26		3,000,000		2,728,127
International Bank for Reconstruction & Development		3.125	%	06/15/27		4,000,000		3,906,800
International Development Association (a)		2.750	%	04/24/23		3,000,000		2,996,310
International Development Association (a)		0.375	%	09/23/25		2,000,000		1,830,940
International Development Association (a)(b)		0.875	%	04/28/26		2,000,000		1,817,661

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund

FOREIGN GOVERNMENTS - 5.9% (Continued)	Coupon			Maturity	Principal Amount		Fair Value
SUPRANATIONAL - 5.3% (Continued)
International Finance Corp., Series GMTN		2.125	%	04/07/26	$	3,000,000	$	2,848,980
								38,435,802
TOTAL FOREIGN GOVERNMENTS (COST $45,470,548)							$	43,121,894

COMMERCIAL MORTGAGE-BACKED SECURITIES - 0.0% (e)	Coupon			Maturity	Principal Amount		Fair Value
Commercial Mortgage Pass-Through Certificates, Class A-3 (COST $72,397)		2.853	%	10/17/45	$	71,021	$	68,563

U.S. GOVERNMENT AGENCIES - 46.3%	Coupon			Maturity	Principal Amount		Fair Value
DEVELOPMENT FINANCE CORPORATION - 1.3%
DFC (PO)		0.000	%	06/21/23	$	1,000,000	$	1,084,130
DFC (c)		4.880	%	09/15/26		583,333		583,333
DFC		1.590	%	04/15/28		2,000,000		1,788,618
DFC		1.650	%	04/15/28		3,500,000		3,154,826
DFC		3.130	%	04/15/28		1,000,000		953,813
DFC		3.540	%	06/15/30		426,483		414,199
DFC		3.520	%	09/20/32		678,571		653,613
DFC		3.820	%	06/01/33		780,794		767,114
								9,399,646
FEDERAL HOME LOAN BANK - 7.4%
FHLB		4.625	%	12/13/24		5,000,000		5,024,527
FHLB		1.250	%	12/21/26		4,000,000		3,642,734
FHLB		4.250	%	12/10/27		11,000,000		11,174,493
FHLB		3.250	%	11/16/28		13,000,000		12,658,174
FHLB		5.500	%	07/15/36		18,620,000		21,266,667
								53,766,595
FEDERAL HOME LOAN MORTGAGE CORPORATION - 11.8%
FHLMC		4.000	%	11/01/24		24,856		24,613
FHLMC		0.375	%	09/23/25		3,500,000		3,197,617
FHLMC		4.000	%	10/01/25		18,430		18,228

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund

U.S. GOVERNMENT AGENCIES - 46.3% (Continued)	Coupon			Maturity	Principal Amount		Fair Value
FEDERAL HOME LOAN MORTGAGE CORPORATION - 11.8% (Continued)
FHLMC		2.875	%	04/25/26	$	3,000,000	$	2,876,203
FHLMC		6.000	%	04/01/27		33,942		34,677
FHLMC		2.500	%	10/01/27		201,649		194,087
FHLMC		2.738	%	04/25/29		2,252,351		2,144,036
FHLMC		2.412	%	08/25/29		3,670,000		3,308,764
FHLMC		7.000	%	02/01/30		12,619		12,661
FHLMC		1.297	%	06/25/30		2,185,000		1,796,895
FHLMC		7.500	%	07/01/30		48,604		50,950
FHLMC		1.503	%	09/25/30		4,000,000		3,322,892
FHLMC		1.487	%	11/25/30		5,500,000		4,533,074
FHLMC		1.878	%	01/25/31		1,500,000		1,268,934
FHLMC		2.000	%	01/25/31		3,000,000		2,555,202
FHLMC		7.000	%	03/01/31		20,765		21,726
FHLMC		1.777	%	10/25/31		5,000,000		4,141,238
FHLMC		2.091	%	11/25/31		2,500,000		2,116,319
FHLMC		6.250	%	07/15/32		7,050,000		8,403,978
FHLMC		3.123	%	08/25/32		2,000,000		1,830,024
FHLMC		3.000	%	11/01/32		434,278		409,682
FHLMC		3.000	%	11/01/32		331,656		312,873
FHLMC		5.500	%	11/01/33		24,329		25,134
FHLMC (H15T1Y + 223.10) (c)		3.356	%	05/01/34		24,556		24,806
FHLMC (H15T1Y + 223.10) (c)		3.356	%	05/01/34		2,007		1,984
FHLMC		1.783	%	06/25/34		2,084,061		1,674,454
FHLMC		5.000	%	07/01/35		49,883		50,759
FHLMC		4.500	%	10/01/35		68,242		68,549
FHLMC		2.438	%	02/25/36		4,000,000		3,214,827
FHLMC		5.500	%	03/01/36		19,260		19,967
FHLMC		5.500	%	06/01/36		27,448		28,428
FHLMC		6.000	%	06/01/36		21,176		21,671
FHLMC		5.500	%	12/01/36		22,613		23,501
FHLMC		6.000	%	08/01/37		12,245		12,806
FHLMC		5.000	%	03/01/38		115,263		117,843
FHLMC		4.500	%	06/01/39		123,366		124,202
FHLMC		5.000	%	06/01/39		181,309		185,379

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund                                

U.S. GOVERNMENT AGENCIES - 46.3% (Continued)	Coupon			Maturity	Principal Amount		Fair Value
FEDERAL HOME LOAN MORTGAGE CORPORATION - 11.8% (Continued)
FHLMC		4.500	%	07/01/39	$	116,017	$	116,804
FHLMC		4.500	%	11/01/39		106,318		107,039
FHLMC		4.500	%	09/01/40		156,868		157,931
FHLMC		4.500	%	05/01/41		310,938		313,046
FHLMC		4.500	%	07/01/41		358,372		360,798
FHLMC		5.000	%	09/01/41		148,548		151,887
FHLMC		3.500	%	10/01/41		173,311		165,545
FHLMC		4.000	%	10/01/41		190,514		186,652
FHLMC		3.500	%	02/01/42		308,462		294,607
FHLMC		4.000	%	02/01/42		81,140		79,495
FHLMC		3.500	%	06/01/42		344,580		329,102
FHLMC		3.500	%	06/01/42		352,161		336,463
FHLMC		3.500	%	08/01/42		404,726		386,544
FHLMC		3.000	%	11/01/42		769,619		710,584
FHLMC		3.000	%	01/01/43		438,114		404,507
FHLMC		3.000	%	05/01/43		598,009		552,127
FHLMC		3.500	%	10/01/44		346,073		328,374
FHLMC		3.500	%	11/01/44		310,533		294,556
FHLMC		3.500	%	04/01/45		386,109		365,165
FHLMC		3.000	%	05/01/46		674,188		618,844
FHLMC		3.000	%	12/01/46		1,659,605		1,523,348
FHLMC		3.500	%	03/01/48		1,852,791		1,753,438
FHLMC		3.500	%	03/01/49		507,735		477,597
FHLMC		3.500	%	07/01/49		826,931		776,256
FHLMC		3.000	%	09/01/49		946,507		856,154
FHLMC		3.000	%	07/01/50		2,326,682		2,106,285
FHLMC		2.000	%	08/01/50		3,233,595		2,682,098
FHLMC		2.000	%	01/01/51		7,975,818		6,616,150
FHLMC		2.500	%	04/01/51		7,791,080		6,727,902
FHLMC		2.500	%	09/01/51		3,123,713		2,695,460
FHLMC		3.000	%	04/01/52		5,684,942		5,097,574
								85,741,315
FEDERAL NATIONAL MORTGAGE ASSOCIATION - 25.6%
FNMA		2.670	%	12/01/23		2,210,016		2,166,038

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund

U.S. GOVERNMENT AGENCIES - 46.3% (Continued)	Coupon			Maturity	Principal Amount		Fair Value
FEDERAL NATIONAL MORTGAGE ASSOCIATION - 25.6% (Continued)
FNMA (c)		2.540	%	07/25/24	$	2,429,063	$	2,362,772
FNMA		2.890	%	12/01/24		4,000,000		3,857,760
FNMA		3.080	%	12/01/24		2,105,145		2,049,991
FNMA		2.710	%	01/01/25		4,500,000		4,323,285
FNMA		5.000	%	04/01/25		12,944		13,030
FNMA		5.000	%	07/01/25		12,101		12,182
FNMA		3.500	%	10/01/25		20,216		19,868
FNMA		5.000	%	10/01/25		17,042		17,158
FNMA		5.500	%	11/01/25		5		5
FNMA		0.500	%	11/07/25		13,934,000		12,748,345
FNMA		4.000	%	03/01/26		94,607		94,026
FNMA		2.910	%	04/01/26		3,000,000		2,869,589
FNMA		2.125	%	04/24/26		2,000,000		1,899,761
FNMA		8.500	%	09/01/26		2,695		2,688
FNMA		2.500	%	09/01/27		235,100		226,269
FNMA		0.750	%	10/08/27		10,000,000		8,772,779
FNMA		2.500	%	11/01/27		376,532		362,016
FNMA		2.500	%	01/01/28		244,364		234,950
FNMA (c)		3.430	%	06/25/28		1,815,839		1,743,616
FNMA		2.522	%	08/27/29		5,374,507		4,845,174
FNMA		0.875	%	08/05/30		23,250,000		18,979,535
FNMA		6.625	%	11/15/30		12,750,000		15,105,812
FNMA (c)		1.561	%	11/25/30		3,000,000		2,460,246
FNMA (c)		1.380	%	12/25/30		5,000,000		4,089,870
FNMA		1.292	%	01/25/31		3,000,000		2,418,303
FNMA		1.376	%	03/25/31		1,000,000		810,031
FNMA		2.000	%	01/01/32		1,135,813		1,047,486
FNMA		3.000	%	12/01/32		484,689		456,737
FNMA		6.000	%	10/01/33		17,965		18,679
FNMA		5.500	%	02/01/34		20,313		20,962
FNMA (H15T1Y + 211.70) (c)		2.808	%	05/01/34		23,555		23,656
FNMA		6.000	%	11/01/34		51,523		53,571
FNMA		5.500	%	01/01/35		28,131		28,963
FNMA		2.500	%	02/01/35		1,138,826		1,061,758
FNMA		5.000	%	10/01/35		43,603		44,529

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund

U.S. GOVERNMENT AGENCIES - 46.3% (Continued)	Coupon			Maturity	Principal Amount		Fair Value
FEDERAL NATIONAL MORTGAGE ASSOCIATION - 25.6% (Continued)
FNMA		5.500	%	10/01/35	$	55,259	$	57,085
FNMA		6.000	%	10/01/35		28,206		29,326
FNMA		5.500	%	06/01/36		12,883		13,273
FNMA		6.000	%	06/01/36		13,223		13,798
FNMA		5.500	%	11/01/36		16,364		16,989
FNMA (12MO LIBOR + 156.50) (c)		2.065	%	05/01/37		2,042		2,050
FNMA		5.625	%	07/15/37		13,750,000		15,952,667
FNMA		4.500	%	09/01/40		94,297		94,588
FNMA		4.500	%	10/01/40		93,979		94,513
FNMA		4.000	%	12/01/40		244,612		239,398
FNMA		4.000	%	01/01/41		175,349		171,613
FNMA		3.500	%	02/01/41		256,685		244,951
FNMA		4.000	%	10/01/41		134,452		131,587
FNMA		4.000	%	11/01/41		147,399		144,258
FNMA		4.000	%	12/01/41		265,714		260,051
FNMA		4.000	%	12/01/41		183,983		180,061
FNMA		4.000	%	01/01/42		582,433		574,975
FNMA		3.500	%	05/01/42		297,329		283,667
FNMA		3.000	%	06/01/42		550,777		507,969
FNMA		3.000	%	08/01/42		449,660		414,733
FNMA		3.000	%	08/01/42		414,568		382,369
FNMA		3.500	%	12/01/42		611,323		583,231
FNMA		3.000	%	06/01/43		502,343		463,291
FNMA		4.000	%	12/01/44		700,844		689,406
FNMA		3.500	%	05/01/45		832,915		787,672
FNMA		3.000	%	04/01/46		653,964		600,569
FNMA		3.500	%	11/01/46		1,105,106		1,044,054
FNMA		4.000	%	10/01/48		510,004		495,334
FNMA		4.000	%	11/01/48		1,298,499		1,265,682
FNMA		3.500	%	05/01/49		418,692		393,168
FNMA		4.000	%	06/01/49		642,234		622,766
FNMA		3.500	%	08/01/49		1,717,384		1,611,689
FNMA		3.000	%	09/01/49		903,176		818,397
FNMA		3.000	%	06/01/50		1,863,880		1,685,958
FNMA		2.500	%	07/01/50		3,011,749		2,605,794

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund

U.S. GOVERNMENT AGENCIES - 46.3% (Continued)	Coupon			Maturity	Principal Amount		Fair Value
FEDERAL NATIONAL MORTGAGE ASSOCIATION - 25.6% (Continued)
FNMA		2.500	%	08/01/50	$	2,126,416	$	1,840,957
FNMA		3.000	%	08/01/50		3,289,139		2,973,585
FNMA		2.000	%	11/01/50		5,350,213		4,438,481
FNMA		2.000	%	01/01/51		9,574,185		7,941,539
FNMA		2.000	%	02/01/51		5,657,734		4,692,050
FNMA		2.500	%	04/01/51		16,115,703		13,893,621
FNMA		2.000	%	08/01/51		3,579,918		2,966,335
FNMA		2.000	%	11/01/51		5,537,003		4,585,729
FNMA		2.500	%	05/01/52		5,761,789		4,968,047
FNMA		3.500	%	05/01/52		5,714,789		5,311,275
FNMA		3.000	%	07/01/52		4,849,751		4,353,858
								186,683,849
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION - 0.0% (e)
GNMA		7.000	%	12/20/30		8,408		8,640
GNMA		7.000	%	10/20/31		5,606		5,896
GNMA		7.000	%	03/20/32		24,667		25,713
GNMA (H15T1Y + 150) (c)		2.625	%	01/20/34		14,865		14,708
GNMA		5.500	%	10/20/38		5,047		5,029
GNMA		6.500	%	11/20/38		3,213		3,289
								63,275
SMALL BUSINESS ADMINISTRATION - 0.0% (e)
SBA (Prime - 2.65) (c)		4.850	%	02/25/32		43,940		43,762
UNITED STATES AGENCY OF INTERNATIONAL DEVELOPMENT - 0.2%
Hashemite Kingdom of Jordan AID Bond		3.000	%	06/30/25		1,450,000		1,406,973
TOTAL U.S. GOVERNMENT AGENCIES (COST $367,511,897)							$	337,105,415
ASSET BACKED SECURITIES - 4.8%	Coupon			Maturity	Principal Amount		Fair Value
Ahold Finance U.S.A., LLC		8.620	%	01/02/25	$	64,581	$	66,796
Beacon Container Finance II, LLC (a)		2.250	%	10/22/46		892,927		786,485
Cards II Trust (a)		0.602	%	04/15/27		2,250,000		2,148,563
CLI Funding, LLC (a)		2.720	%	01/18/47		1,207,989		1,052,885

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund

ASSET BACKED SECURITIES - 4.8% (Continued)	Coupon			Maturity	Principal Amount		Fair Value
DB Master Finance, LLC (a)		2.493	%	11/20/51	$	1,999,688	$	1,691,662
Domino's Pizza Master Issuer, LLC (a)		4.474	%	10/25/45		2,109,375		2,038,781
Duke Energy Progress NC Storm Funding, LLC		2.799	%	07/01/41		2,000,000		1,465,053
Golden Credit Card Trust (a)		1.140	%	08/15/28		1,000,000		886,592
Iowa Student Loan Liquidity Corp. Rev.		1.730	%	08/25/70		1,133,262		989,411
Mosaic Solar Loans LLC (a)		2.100	%	04/20/46		888,897		774,378
PG&E Energy Recovery Funding, LLC		2.822	%	07/15/46		1,000,000		730,899
PG&E Energy Recovery Funding, LLC		5.536	%	07/15/47		1,500,000		1,588,964
PG&E Wildfire Recovery Funding, LLC		4.674	%	12/01/51		2,400,000		2,258,372
SBA Tower Trust (a)		2.836	%	01/15/50		282,000		267,027
SBA Tower Trust (a)		6.599	%	11/15/52		880,000		928,747
SolarCity LMC, Series I, LLC (a)		4.800	%	12/20/26		275,182		271,627
Tesla Auto Lease Trust		0.600	%	09/22/25		1,200,000		1,147,089
Texas Electric Market Stabilization Funding N, LLC (a)		4.966	%	02/01/44		630,000		631,670
Texas Electric Market Stabilization Funding N, LLC		5.057	%	08/01/46		3,000,000		2,996,992
Textainer Marine Containers VII Ltd. (a)		1.680	%	02/20/46		1,250,000		1,066,167
TIF Funding II, LLC (a)		1.650	%	02/20/46		415,625		350,348
Toyota Auto Receivables Owner Trust		0.260	%	11/17/25		2,569,698		2,479,967
Tribute Rail, LLC (a)		4.760	%	05/17/52		1,961,852		1,897,495
Triton Container Finance VIII, LLC (a)		1.860	%	03/20/46		1,452,500		1,247,412
Triumph Rail, LLC (a)		2.150	%	06/19/51		1,901,357		1,636,627
Vantage Data Centers Issuer, LLC (a)		2.165	%	10/15/46		2,000,000		1,784,740
Wendy's Funding, LLC (a)		3.783	%	06/15/49		680,625		634,057
Wendy's Funding, LLC		4.236	%	03/15/52		1,240,625		1,147,506
TOTAL ASSET BACKED SECURITIES (COST $37,459,982)							$	34,966,312
MONEY MARKET FUNDS - 1.1%					Shares		Fair Value
First American Government Obligations Fund - Class X, 4.65% (f) (COST $7,932,333)						7,932,333	$	7,932,333

Schedule of Portfolio Investments (Continued)

Praxis Impact Bond Fund

INVESTMENT PURCHASED WITH THE CASH PROCEEDS FROM SECURITIES LENDING - 2.7%	Shares		Fair Value
Mount Vernon Liquid Assets Portfolio, LLC, 4.93% (f)(g) (COST $19,989,455)		19,989,455	$	19,989,455
INVESTMENT COMPANIES - 0.4%	Shares		Fair Value
Pax High Yield Bond Fund - Institutional Class (COST $4,199,236)		530,984	$	3,085,016
TOTAL INVESTMENTS - (COST $808,662,642) - 101.3%			$	738,309,407
LIABILITIES IN EXCESS OF OTHER ASSETS - (1.3%)				(9,400,896	)
NET ASSETS - 100.0%			$	728,908,511

(a)	144a security may only be resold to qualified institutional investors.  These securities were deemed liquid under guidelines established by the Board of Trustees. At March 31, 2023, these securities were valued at $82,577,860 or 11.3% 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, 2023 was $19,678,580.
(c)	Variable rate security. Interest rate resets periodically.  The rate shown is the effective interest rate as of March 31, 2023.  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)	Illiquid securities are as follows:

	Acquisition	Current		Fair		% of Net
	Date	Cost		Value		Assets
Calvert Social Investment Foundation, Inc.  3.000%, 06/15/23	06/18/18		1,650,000		1,638,726		0.2	%
Calvert Social Investment Foundation, Inc.  3.000%, 12/15/23	12/17/18		950,000		930,618		0.1	%
Calvert Social Investment Foundation, Inc.  1.000%, 06/14/24	06/15/21		550,000		520,172		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 06/17/24	06/17/19		980,000		948,709		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 12/15/24	12/12/19		400,000		382,692		0.1	%
Calvert Social Investment Foundation, Inc.  2.500%, 06/13/25	06/12/20		1,400,000		1,311,296		0.2	%
Calvert Social Investment Foundation, Inc.  2.500%, 12/15/25	12/15/20		650,000		601,872		0.1	%
Capital Impact Partners 4.800%, 12/15/23	12/19/22		250,000		250,105		0.0	%(e)
		$	6,830,000	$	6,584,190		0.9	%

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

(f)	The rate shown is the 7-day effective yield as of March 31, 2023.
(g)	The security was purchased with cash collateral received from securities on loan.

GMTN - 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, 2023 (Unaudited)    

COMMON STOCKS - 98.1%	Shares		Fair Value
AUSTRALIA - 4.3%
ANZ Group Holdings Ltd.		40,646	$	626,443
ASX Ltd.		3,087		134,829
Brambles Ltd.		84,413		761,190
Coles Group Ltd.		20,682		249,927
Commonwealth Bank of Australia		19,560		1,291,630
Computershare Ltd.		20,272		294,494
CSL Ltd. - ADR		7,282		703,514
CSL Ltd.		3,640		705,054
Dexus		158,141		799,640
Fortescue Metals Group Ltd.		63,440		953,729
Goodman Group		44,189		560,826
GPT Group (The)		86,547		247,363
Lendlease Corp. Ltd.		22,661		110,297
Macquarie Group Ltd. - ADR		1,184		140,363
Macquarie Group Ltd.		2,144		253,883
Mirvac Group		157,601		220,768
National Australia Bank Ltd.		36,653		683,059
Origin Energy Ltd.		41,376		230,457
REA Group Ltd.		6,602		615,675
Scentre Group		175,279		324,499
SEEK Ltd.		49,532		800,796
Sonic Healthcare Ltd.		7,195		168,694
South32 Ltd.		255,820		749,839
Stockland		68,242		182,762
Transurban Group		200,755		1,917,141
Vicinity Centres		397,679		520,172
Wesfarmers Ltd.		32,429		1,096,197
Woolworths Group Ltd.		28,598		727,135
				16,070,376
AUSTRIA - 0.2%
Verbund AG		6,899		600,214
BELGIUM - 0.9%
Elia Group S.A./N.V.		4,015		530,312
Groupe Bruxelles Lambert N.V.		6,989		596,561

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.1% (Continued)	Shares		Fair Value
BELGIUM - 0.9% (Continued)
Groupe Bruxelles Lambert N.V.		2,460	$	208,876
KBC Group N.V.		15,375		1,056,639
UCB S.A.		7,663		685,027
Umicore S.A.		3,663		124,278
				3,201,693
BERMUDA - 0.6%
China Gas Holdings Ltd.		115,000		161,911
Credicorp Ltd.		7,803		1,033,039
Hongkong Land Holdings Ltd.		35,400		155,741
Shenzhen International Holdings Ltd.		799,000		706,960
				2,057,651
BRAZIL - 1.5%
Banco Bradesco S.A. - ADR (a)		243,207		637,202
Banco do Brasil S.A. - ADR		98,038		760,530
Banco Santander Brasil S.A. - ADR (a)		127,977		679,558
Cia Energética de Minas Gerais - ADR		13,046		29,223
Cia Siderurgica Nacional S.A. - ADR (a)		61,558		188,983
Gerdau S.A. - ADR		83,298		410,657
Sendas Distribuidora S.A. - ADR (a)		32,322		497,759
Suzano S.A. - ADR		78,845		647,317
Telefónica Brasil S.A. - ADR		151,274		1,145,144
TIM S.A. - ADR		55,016		679,998
				5,676,371
CANADA - 7.7%
Bank of Montreal (a)		17,353		1,546,326
Bank of Nova Scotia (The) (a)		24,639		1,240,820
BCE, Inc. (a)		10,817		484,493
Brookfield Asset Management Ltd.  - Class A (a)		9,245		302,496
Cameco Corp.		13,443		351,803
Canadian Imperial Bank of Commerce (a)		18,545		786,679
Canadian National Railway Co.		15,841		1,868,763
Canadian Pacific Railway Ltd.		19,191		1,476,556
CGI, Inc. (b)		8,100		779,787
Franco-Nevada Corp.		14,305		2,085,669
Gildan Activewear, Inc. (a)		18,362		609,435
Magna International, Inc.		1,678		89,890

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.1% (Continued)	Shares		Fair Value
CANADA - 7.7% (Continued)
Manulife Financial Corp. (a)		76,580	$	1,406,009
Methanex Corp.		9,990		464,835
Nutrien Ltd.		11,961		883,320
Restaurant Brands International, Inc.		11,589		778,085
Ritchie Bros. Auctioneers, Inc.		3,297		185,588
Royal Bank of Canada (a)		32,068		3,065,059
Shopify, Inc. - Class A (b)		16,669		799,112
Sun Life Financial, Inc.		27,123		1,266,644
Teck Resources Ltd. - Class B		43,317		1,581,071
Thomson Reuters Corp. (a)		23,351		3,038,432
Toronto-Dominion Bank (The) (a)		26,902		1,611,430
West Fraser Timber Co. Ltd.		2,404		171,261
Wheaton Precious Metals Corp. (a)		37,982		1,829,213
				28,702,776
CAYMAN ISLANDS - 5.0%
Alibaba Group Holding Ltd. - ADR (b)		26,924		2,751,094
Autohome, Inc. - ADR		2,537		84,913
Baidu, Inc. - ADR (b)		4,105		619,527
China Literature Ltd. (b)		83,000		428,616
China Mengniu Dairy Co. Ltd. (b)		98,000		401,743
Daqo New Energy Corp. - ADR (b)		3,647		170,825
ENN Energy Holdings Ltd.		31,800		435,433
Genscript Biotech Corp. (b)		112,000		239,606
Hengan International Group Co. Ltd.		99,000		458,569
JD.com, Inc. - ADR		11,792		517,551
KE Holdings, Inc. - ADR (b)		9,508		179,131
Kingdee International Software Group Co. Ltd. (b)		100,000		161,536
Li Auto, Inc. (a)(b)		10,834		270,308
Meituan - ADR (b)		33,181		1,202,148
Minth Group Ltd.		64,000		194,249
NetEase, Inc. - ADR (a)		11,682		1,033,156
NIO, Inc. - ADR (a)(b)		19,532		205,281
Sea Ltd. - ADR (b)		4,007		346,806
Shenzhou International Group Holdings Ltd.		48,000		503,524
Sunny Optical Technology Group Co. Ltd.		19,200		231,678
Tencent Holdings Ltd. - ADR (a)		101,450		4,959,891

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.1% (Continued)	Shares		Fair Value
CAYMAN ISLANDS - 5.0% (Continued)
Tingyi Cayman Islands Holding Corp.		276,000	$	461,870
Trip.com Group Ltd. - ADR (b)		22,788		858,424
Vipshop Holdings Ltd. - ADR (b)		21,137		320,860
WuXi Biologics Cayman, Inc. (b)		113,072		696,740
Xinyi Solar Holdings Ltd.		100,000		119,879
ZTO Express Cayman, Inc. - ADR		26,341		754,933
				18,608,291
CHILE - 0.2%
Sociedad Quimica y Minera de Chile S.A. - ADR		10,226		828,920
CHINA - 2.8%
Agricultural Bank of China Ltd. - H Shares		1,583,000		586,222
ANTA Sports Products Ltd.		50,400		731,758
Bank of China Ltd. - H Shares		1,903,000		729,542
BYD Co. Ltd. - H Shares		23,000		676,566
China Life Insurance Co. Ltd. - H Shares		376,000		617,037
China Merchants Bank Co. Ltd. - H Shares		66,820		339,311
China Minsheng Banking Corp. Ltd. - H Shares		456,500		156,418
China Pacific Insurance Group Co. Ltd. - H Shares		100,200		265,637
China Resources Land Ltd.		134,000		610,209
China Vanke Co. Ltd. - H Shares		108,074		170,534
COSCO SHIPPING Holdings Co. Ltd. - H Shares		87,500		98,645
Haier Smart Home Co. Ltd. - H Shares		241,230		755,352
Huatai Securities Co. Ltd. - H Shares		117,400		134,015
Industrial & Commercial Bank of China Ltd. - H Shares		1,118,000		594,145
Jiangsu Expressway Co. Ltd. - H Shares		720,000		669,574
PICC Property & Casualty Co. Ltd. - H Shares		146,000		148,935
Ping An Insurance Group Co. of China Ltd. - H Shares		244,818		1,583,768
Sinopharm Group Co. Ltd. - H Shares		427,200		1,290,890
TravelSky Technology Ltd. - H Shares		217,000		404,345
				10,562,903
COLOMBIA - 0.3%
Bancolombia S.A. - ADR (a)		39,868		1,001,883
DENMARK - 2.1%
A.P. Moller-Maersk A/S - Series B		67		121,791

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.1% (Continued)	Shares		Fair Value
DENMARK - 2.1% (Continued)
Chr. Hansen Holding A/S		1,812	$	137,845
Coloplast A/S - Series B		2,036		268,085
DSV A/S		4,551		882,461
Genmab A/S (b)		932		352,314
Novo Nordisk A/S - ADR		29,898		4,757,968
Novozymes A/S - B Shares		3,368		172,459
Orsted A/S		4,694		400,263
Pandora A/S		1,085		104,151
Vestas Wind Systems A/S (b)		21,015		612,493
				7,809,830
FINLAND - 0.9%
Neste OYJ		20,268		1,001,518
Nokia Corp. - ADR		180,069		884,139
Sampo OYJ - A Shares		10,139		478,506
Stora Enso OYJ - R Shares		11,015		143,332
UPM-Kymmene OYJ		20,395		685,164
				3,192,659
FRANCE - 7.0%
Accor S.A. (b)		11,801		383,740
Aeroports de Paris (b)		1,860		265,590
Air Liquide S.A. - ADR		1,327		44,348
Air Liquide S.A.		9,728		1,628,682
Alstom S.A.		10,037		273,325
Arkema S.A.		1,887		186,354
AXA S.A.		33,469		1,021,597
BNP Paribas S.A. - ADR		6,162		183,812
BNP Paribas S.A.		3,140		187,551
Bollore SE		82,440		509,716
Bureau Veritas S.A.		16,518		474,698
Capgemini SE		5,024		933,824
Carrefour S.A.		14,741		298,087
Cie Generale des Etablissements Michelin SCA - ADR		28,976		438,986
Cie Generale des Etablissements Michelin SCA		18,076		552,663
Covivio		5,514		320,814
Danone S.A. - ADR		12,960		161,611
Danone S.A.		6,488		403,787

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.1% (Continued)	Shares		Fair Value
FRANCE - 7.0% (Continued)
Dassault Systemes SE - ADR		901	$	37,031
Dassault Systemes SE		9,814		404,919
EssilorLuxottica S.A.		6,450		1,163,315
Eurofins Scientific SE		2,307		154,507
Getlink SE		77,043		1,269,123
Henkel AG & Co. KGaA		4,390		319,422
Hermes International - ADR		1,050		212,950
Hermes International		830		1,681,299
Kering S.A.		1,685		1,099,561
Klepierre S.A.		22,849		518,140
Legrand S.A.		10,029		916,556
L'Oreal S.A. - ADR		21,745		1,938,349
L'Oreal S.A.		1,380		616,766
Publicis Groupe S.A.		12,555		980,236
Renault S.A. (b)		4,575		186,497
Sartorius Sedim Biotech		1,319		404,744
Schneider Electric SE - ADR		5,840		194,647
Schneider Electric SE		10,419		1,741,612
Societe Generale S.A.		23,503		529,660
Solvay S.A.		809		92,541
Teleperformance		1,454		351,406
Unibail-Rodamco-Westfield (b)		6,388		343,782
Unibail-Rodamco-Westfield - CDI (b)		45,646		122,785
Valeo		22,970		471,434
Veolia Environnement S.A.		6,731		207,741
Vivendi SE - ADR		13,553		136,031
Vivendi SE		21,180		214,205
Wendel SE		8,457		894,418
Worldline S.A. (b)		11,073		470,680
				25,943,542
GERMANY - 4.2%
adidas AG - ADR		5,158		455,503
adidas AG		1,323		234,578
Allianz SE - ADR		76,050		1,752,953
Allianz SE		239		55,181
BASF SE		10,650		559,222

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.1% (Continued)	Shares		Fair Value
GERMANY - 4.2% (Continued)
Bayerische Motoren Werke AG - ADR		2	$	73
Bayerische Motoren Werke AG		2,092		229,326
Brenntag SE		6,380		480,231
Commerzbank AG (b)		24,099		253,771
Continental AG		4,852		363,630
Deutsche Boerse AG		5,965		1,161,678
Deutsche Post AG - ADR		9,971		466,344
Deutsche Post AG		10,161		475,992
Deutsche Telekom AG - ADR		38,185		923,695
Deutsche Telekom AG		25,629		621,173
Fraport AG Frankfurt Airport Services Worldwide (b)		1,961		98,873
Fresenius Medical Care AG & Co. KGaA - ADR		8,998		191,297
Fresenius Medical Care AG & Co. KGaA		4,696		199,358
Hannover Rueck SE		1,159		226,723
Infineon Technologies AG - ADR		5,268		215,777
Mercedes-Benz Group AG		18,669		1,435,985
Merck KGaA		3,418		637,362
Muenchener Rueckversicherungs-Gesellschaft AG - ADR		18,890		660,206
Muenchener Rueckversicherungs-Gesellschaft AG		1,787		624,924
RWE AG		13,344		574,285
Sartorius AG		918		386,974
Siemens AG		8,289		1,343,118
Telefonica Deutschland Holding AG		166,204		511,720
Vonovia SE		25,494		480,270
Zalando SE (b)		3,395		142,315
				15,762,537
HONG KONG - 2.2%
AAC Technologies Holdings, Inc. (b)		92,000		227,548
AIA Group Ltd. - ADR		41,503		1,743,126
AIA Group Ltd.		57,569		603,742
BYD Electronic International Co. Ltd.		86,500		269,196
CSPC Pharmaceutical Group Ltd.		232,000		227,432
Geely Automobile Holdings Ltd.		93,000		119,841
Hang Seng Bank Ltd.		16,100		228,865
Hong Kong Exchanges & Clearing Ltd.		26,978		1,195,784
Lenovo Group Ltd.		562,000		608,874

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.1% (Continued)	Shares		Fair Value
HONG KONG - 2.2% (Continued)
Link REIT		95,500	$	614,083
New China Life Insurance Co. Ltd. - H Shares		87,400		207,575
Shandong Weigao Group Medical Polymer Co. Ltd. - H Shares		132,000		210,923
Sino Land Co. Ltd.		144,000		194,733
Sun Hung Kai Properties Ltd.		24,000		336,228
Swire Properties Ltd.		206,350		531,080
Techtronic Industries Co. Ltd.		24,500		265,458
Wharf Holdings Ltd. (The)		91,000		208,206
Zhongsheng Group Holdings Ltd.		86,000		423,752
				8,216,446
INDIA - 3.8%
HDFC Bank Ltd. - ADR		30,589		2,039,368
ICICI Bank Ltd. - ADR		245,727		5,302,789
Infosys Ltd. - ADR		211,720		3,692,397
Wipro Ltd. - ADR		657,537		2,952,341
				13,986,895
INDONESIA - 0.7%
Bank Mandiri Persero Tbk PT - ADR		87,101		1,172,379
Telkom Indonesia Persero Tbk PT - ADR (a)		50,040		1,364,591
				2,536,970
IRELAND - 0.6%
AIB Group plc		100,681		407,592
Bank of Ireland Group plc		8,303		84,029
CRH plc - ADR (a)		14,500		737,615
Kingspan Group plc		2,206		151,197
Smurfit Kappa Group plc		20,818		755,221
				2,135,654
ISRAEL - 0.6%
Check Point Software Technologies Ltd. (b)		4,473		581,490
CyberArk Software Ltd. (b)		2,342		346,569
ICL Group Ltd.		59,849		406,973
Nice Ltd. - ADR (a)(b)		3,821		874,589
Wix.com Ltd. (b)		1,794		179,041
				2,388,662
ITALY - 1.7%
Assicurazioni Generali S.p.A.		24,438		487,015

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.1% (Continued)	Shares		Fair Value
ITALY - 1.7% (Continued)
Enel S.p.A.		63,194	$	385,494
Intesa Sanpaolo S.p.A. - ADR		1		15
Intesa Sanpaolo S.p.A.		276,901		710,793
Mediobanca Banca di Credito Finanziario S.p.A.		49,451		497,029
Moncler S.p.A.		10,592		731,752
Poste Italiane S.p.A.		80,416		820,212
Telecom Italia S.p.A. (b)		591,414		195,078
Terna - Rete Elettrica Nazionale S.p.A.		199,413		1,636,986
UniCredit S.p.A.		49,517		933,476
				6,397,850
JAPAN - 14.3%
Advantest Corp.		4,800		445,017
Aeon Co. Ltd.		7,900		153,276
AGC, Inc.		10,000		372,832
Asahi Intecc Co. Ltd.		11,100		196,129
Asahi Kasei Corp.		50,000		350,227
Astellas Pharma, Inc.		34,300		487,340
Azbil Corp.		10,400		284,868
Bandai Namco Holdings, Inc.		18,600		401,024
Bridgestone Corp.		33,456		1,359,155
Brothers Industries Ltd.		13,900		209,429
Canon, Inc.		22,800		507,784
Chiba Bank Ltd. (The)		28,700		185,249
CyberAgent, Inc.		13,700		116,085
Dai Nippon Printing Co. Ltd.		61,318		1,716,914
Dai-ichi Life Holdings, Inc.		16,346		300,514
Daiichi Sankyo Co. Ltd. - ADR		5,703		208,331
Daiichi Sankyo Co. Ltd.		23,430		854,723
Daiwa House Industry Co. Ltd.		30,000		706,880
Denso Corp.		10,000		564,508
Dentsu Group, Inc.		4,300		151,577
Eisai Co. Ltd.		4,600		261,294
ENEOS Holdings, Inc.		167,700		588,413
FANUC Corp. - ADR		8,460		151,857
FANUC Corp.		4,000		144,457
Fast Retailing Co. Ltd.		4,200		919,488

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.1% (Continued)	Shares		Fair Value
JAPAN - 14.3% (Continued)
FUJIFILM Holdings Corp. - ADR (a)		6,620	$	335,899
FUJIFILM Holdings Corp.		1,500		76,149
Fujitsu Ltd.		4,868		657,854
Hitachi Construction Machinery Co. Ltd.		7,800		181,808
Honda Motor Co. Ltd.		7,800		206,331
Hoya Corp. - ADR		1,273		141,710
Hoya Corp.		6,861		758,271
Ibiden Co. Ltd.		4,600		184,486
Idemitsu Kosan Co. Ltd.		13,300		291,191
Japan Exchange Group, Inc.		13,000		198,832
Kao Corp.		29,400		1,144,472
KDDI Corp. - ADR (a)		43,814		675,612
Keyence Corp.		3,600		1,764,498
Kintetsu Group Holdings Co. Ltd.		18,128		584,009
Kubota Corp. - ADR		788		59,781
Kubota Corp.		24,000		363,894
Lixil Corp.		15,100		249,253
Mitsubishi Corp.		44,800		1,610,050
Mitsubishi Estate Co. Ltd.		14,300		170,104
Mitsubishi UFJ Financial Group, Inc. - ADR		5,599		35,778
Mitsubishi UFJ Financial Group, Inc.		275,109		1,763,189
Mitsui & Co. Ltd. - ADR (a)		730		455,717
Mitsui & Co. Ltd.		62,990		1,963,507
Mitsui Chemicals, Inc.		7,100		183,337
Mitsui OSK Lines Ltd.		21,700		544,218
Mizuho Financial Group, Inc.		65,200		923,781
Murata Manufacturing Co. Ltd.		12,900		786,241
Nexon Co. Ltd.		13,700		327,159
Nidec Corp. - ADR		23,780		308,902
Nintendo Co. Ltd. - ADR		74,200		718,998
Nintendo Co. Ltd.		3,000		116,532
Nippon Building Fund, Inc.		33		137,372
Nippon Prologis REIT, Inc. (b)		175		370,505
Nippon Sanso Holdings Corp.		9,300		168,029
Nippon Telegraph & Telephone Corp.		5,200		155,400
Nippon Yusen KK		9,300		217,246

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.1% (Continued)	Shares		Fair Value
JAPAN - 14.3% (Continued)
Nitori Holdings Co. Ltd.		1,100	$	132,846
Nomura Real Estate Holdings, Inc.		6,900		152,800
Nomura Research Institute Ltd.		10,900		254,941
Olympus Corp.		16,400		288,047
Omron Corp.		2,900		169,738
Ono Pharmaceutical Co. Ltd.		6,900		143,792
Oriental Land Co. Ltd.		20,800		712,219
ORIX Corp.		16,800		277,015
Pan Pacific International Holdings Corp.		10,900		210,887
PDD Holdings, Inc. - ADR (b)		8,211		623,215
Persol Holdings Co. Ltd.		8,000		161,089
Recruit Holdings Co. Ltd.		25,750		708,400
Resona Holdings, Inc.		45,300		218,547
Ricoh Co. Ltd.		25,500		191,290
Secom Co. Ltd.		2,700		166,405
Seiko Epson Corp.		30,300		432,954
Sekisui House Ltd. - ADR		21,690		440,090
Sekisui House Ltd.		8,000		163,060
Seven & i Holdings Co. Ltd.		18,900		853,843
Sharp Corp.		20,600		145,661
Shimadzu Corp.		17,000		533,706
Shimano, Inc.		2,084		361,358
Shin-Etsu Chemical Co. Ltd.		17,000		551,871
Shionogi & Co. Ltd.		3,400		153,368
Shiseido Co. Ltd. - ADR		2,703		126,284
Shiseido Co. Ltd.		2,100		98,461
SoftBank Corp.		33,205		383,335
SoftBank Group Corp. - ADR		12,130		238,354
SoftBank Group Corp.		13,000		511,107
Sony Group Corp. - ADR		19,749		1,790,247
Sony Group Corp.		2,000		182,178
Sumitomo Corp.		23,254		411,978
Sumitomo Metal Mining Co. Ltd.		8,000		306,130
Sumitomo Mitsui Financial Group, Inc. - ADR		44,230		353,840
Sumitomo Mitsui Financial Group, Inc.		13,200		528,264
Sumitomo Mitsui Trust Holdings, Inc.		19,600		673,418

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.1% (Continued)	Shares		Fair Value
JAPAN - 14.3% (Continued)
Suntory Beverage & Food Ltd.		7,600	$	283,105
Takeda Pharmaceutical Co. Ltd. - ADR		17,704		291,762
Takeda Pharmaceutical Co. Ltd.		35,100		1,152,878
TDK Corp.		11,700		420,010
Terumo Corp.		10,972		296,759
Toho Co. Ltd.		4,100		157,199
Tokyo Electron Ltd.		5,700		696,389
Toppan, Inc.		55,900		1,126,584
Toray Industries, Inc.		50,000		286,054
TOTO Ltd.		5,000		167,529
Toyota Motor Corp. - ADR		10,972		1,554,623
USS Co. Ltd.		31,120		539,952
Yamaha Corp.		17,000		656,647
Yamaha Motor Co. Ltd.		31,100		813,961
Yokogawa Electric Corp.		36,800		599,270
Z Holdings Corp.		54,000		153,124
				53,314,070
JERSEY - 0.2%
Experian plc - ADR		11,145		367,339
Experian plc		2,439		80,315
WPP plc - ADR		1,188		70,710
WPP plc		34,966		415,452
				933,816
LUXEMBOURG - 0.2%
Aroundtown S.A.		34,293		49,033
Tenaris S.A. - ADR		30,827		876,104
				925,137
MEXICO - 1.1%
America Movil SAB de C.V. - ADR (b)		11,290		237,655
Fomento Economico Mexicano S.A.B. de C.V. - ADR		12,776		1,216,147
Grupo Aeroportuario del Pacifico S.A.B. de C.V. - ADR		2,661		519,188
Grupo Aeroportuario del Sureste S.A.B. de C.V. - ADR		3,153		966,300
Wal-Mart de Mexico S.A.B. de C.V. - ADR (a)		32,608		1,298,124
				4,237,414
NETHERLANDS - 3.1%
Adyen N.V. (b)		349		556,218

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.1% (Continued)	Shares		Fair Value
NETHERLANDS - 3.1% (Continued)
Aegon N.V.		13,988	$	60,148
Akzo Nobel N.V. - ADR		1,673		43,582
Argenx SE - ADR (a)(b)		732		272,728
ASML Holding N.V.		6,611		4,500,174
CNH Industrial N.V.		17,084		260,873
Exor N.V. (b)		3,298		272,006
ING Groep N.V. - ADR		40,673		482,788
ING Groep N.V.		12,870		152,866
Koninklijke Ahold Delhaize N.V. - ADR		24,466		835,171
Koninklijke Ahold Delhaize N.V.		5,491		187,638
Koninklijke DSM N.V.		2,622		310,361
NN Group N.V.		8,950		325,039
OCI N.V. (b)		9,087		308,109
Prosus N.V. (b)		13,725		1,074,938
QIAGEN N.V. (a)(b)		11,697		537,243
Randstad N.V.		3,477		206,452
Stellantis N.V.		42,053		764,368
STMicroelectronics N.V. (a)		2,836		151,698
Wolters Kluwer N.V.		1,707		215,529
				11,517,929
NORWAY - 1.7%
Aker BP ASA		53,928		1,323,136
Equinor ASA - ADR		158,981		4,519,830
Norsk Hydro ASA		79,990		597,248
				6,440,214
PHILIPPINES - 0.0% (c)
PLDT, Inc. - ADR		3,953		99,813
PORTUGAL - 0.5%
Galp Energia SGPS S.A.		155,230		1,756,821
Jeronimo Martins SGPS S.A.		8,104		190,262
				1,947,083
RUSSIA - 0.0% (c)
Mobile TeleSystems PJSC - ADR (b)(d)(e)		86,910		869

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.1% (Continued)	Shares		Fair Value
SINGAPORE - 1.6%
BOC Aviation Ltd.		87,700	$	680,091
CapitaLand Ascendas REIT		167,800		361,807
CapitaLand Integrated Commercial Trust		522,925		779,895
CapitaLand Investment Ltd.		183,000		507,729
CDL Hospitality Trusts		28,826		25,834
City Developments Ltd.		203,900		1,131,415
DBS Group Holdings Ltd. - ADR		11,392		1,129,061
Singapore Telecommunications Ltd.		216,000		400,214
Venture Corp. Ltd.		84,300		1,121,970
				6,138,016
SOUTH AFRICA - 1.0%
FirstRand Ltd.		201,574		683,265
Gold Fields Ltd. - ADR (a)		14,088		187,652
Impala Platinum Holdings Ltd. - ADR (a)		29,987		274,981
Mr Price Group Ltd.		56,059		454,046
MTN Group Ltd. (b)		18,970		135,920
MultiChoice Group Ltd.		72,496		503,823
Naspers Ltd. - Class N - ADR		26,085		956,276
Standard Bank Group Ltd.		44,968		436,034
				3,631,997
SOUTH KOREA - 3.8%
Celltrion, Inc.		4,265		491,459
Hyundai Mobis Co. Ltd.		8,222		1,361,355
KB Financial Group, Inc. - ADR		15,444		562,471
KT Corp. - ADR		39,515		448,100
LG Display Co. Ltd. - ADR		3		19
NAVER Corp.		5,824		909,738
POSCO Holdings, Inc. - ADR		12,686		884,087
Samsung Electronics Co. Ltd.		112,248		5,533,557
Shinhan Financial Group Co. Ltd. - ADR		23,067		621,425
Shinhan Financial Group Co. Ltd.		29,265		792,528
SK Hynix, Inc.		15,952		1,088,289
SK Telecom Co. Ltd. - ADR (a)		19,765		405,380
Woori Financial Group, Inc. - ADR		34,279		901,195
				13,999,603

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.1% (Continued)	Shares		Fair Value
SPAIN - 1.9%
Aena SME S.A. (b)		5,525	$	893,617
Amadeus IT Group S.A. (b)		7,348		493,028
CaixaBank S.A.		18,268		71,295
Cellnex Telecom S.A.		4,067		158,188
Grifols S.A. (b)		20,633		152,065
Iberdrola S.A. - ADR		1,595		79,304
Iberdrola S.A.		29,928		372,912
Industria de Diseno Textil S.A.		34,462		1,157,990
Naturgy Energy Group S.A.		12,657		381,096
Repsol S.A.		178,289		2,742,253
Telefónica S.A.		92,766		399,606
				6,901,354
SWEDEN - 1.3%
Atlas Copco AB - A Shares		58,602		742,347
Atlas Copco AB - Class A - ADR		26,193		330,556
Boliden AB		20,477		804,375
Epiroc AB - Class A		14,553		288,860
Essity AB - Series B		7,919		226,184
H & M Hennes & Mauritz AB - B Shares		19,185		274,282
Hexagon AB - B Shares		62,284		716,810
Industrivarden AB - A Shares		23,389		632,110
Svenska Cellulosa AB S.C.A. - Series B		16,418		216,221
Svenska Handelsbanken AB - A Shares		31,343		271,442
Telefonaktiebolaget LM Ericsson - B Shares		42,832		251,059
				4,754,246
SWITZERLAND - 6.5%
ABB Ltd. - ADR (a)		58,667		2,012,278
ABB Ltd.		5,783		198,981
Accelleron Industries A.G. (b)		289		6,844
Accelleron Industries A.G. (b)		1,953		45,700
Adecco Group AG		8,723		317,795
Alcon, Inc. (a)		5,312		374,708
Barry Callebaut AG		553		1,171,897
Clariant AG (b)		10,218		169,541
Coca-Cola HBC AG		26,042		712,945
Geberit AG		1,928		1,076,886

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund     

COMMON STOCKS - 98.1% (Continued)	Shares		Fair Value
SWITZERLAND - 6.5% (Continued)
Givaudan S.A.		223	$	725,953
Holcim Ltd. (b)		8,532		550,342
Julius Baer Group Ltd.		3,557		243,018
Keuhne + Nagel International AG		643		191,544
Logitech International S.A.		4,776		277,295
Lonza Group AG - ADR		1,070		64,098
Lonza Group AG		2,080		1,252,392
Nestlé S.A. - ADR		31,994		3,893,350
Nestlé S.A.		4,022		490,496
Partners Group Holding AG		570		536,882
Roche Holding AG - ADR (a)		73,736		2,644,173
Roche Holding AG		2,204		629,894
Sika AG		852		239,027
Sonova Holding AG		1,560		460,268
Swatch Group AG (The)		707		243,530
Swiss Life Holding AG		1,691		1,043,721
Swiss Re AG		9,611		987,555
Swisscom AG		981		626,163
Temenos AG		3,323		231,278
UBS Group AG		39,428		834,483
UBS Group AG (a)		26,246		560,090
Zurich Insurance Group AG - ADR		24,700		1,181,648
Zurich Insurance Group AG		492		235,810
				24,230,585
TAIWAN - 4.8%
ASE Technology Holding Co. Ltd. - ADR (a)		126,937		1,011,688
AUO Corp. - ADR		115,722		719,791
Chunghwa Telecom Co. Ltd. - ADR		122,331		4,783,142
Taiwan Semiconductor Manufacturing Co. Ltd. - ADR		105,463		9,810,168
United Microelectronics Corp. - ADR (a)(b)		183,092		1,603,886
				17,928,675
UNITED KINGDOM - 8.8%
3i Group plc		68,813		1,434,385
Anglo American plc		40,782		1,356,294
Antofagasta plc		47,452		929,223
Ashtead Group plc		11,037		677,764

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund     

COMMON STOCKS - 98.1% (Continued)	Shares		Fair Value
UNITED KINGDOM - 8.8% (Continued)
AstraZeneca plc - ADR		51,316	$	3,561,844
Aviva plc		147,903		738,837
Barratt Developments plc		27,950		160,855
British Land Co. plc (The)		62,287		298,710
BT Group plc		130,919		235,842
Bunzl plc		5,822		219,924
Burberry Group plc		13,434		430,179
Coca-Cola Europacific Partners plc		21,706		1,284,778
Compass Group plc		35,682		896,795
GSK plc - ADR		27,099		964,182
GSK plc		27,901		493,020
Haleon plc - ADR (a)		17,287		140,716
Halma plc		6,736		185,968
HSBC Holdings plc - ADR (a)		58,458		1,995,171
HSBC Holdings plc		27,340		185,827
Informa plc		99,047		849,026
InterContinental Hotels Group plc - ADR (a)		2,515		167,499
J Sainsbury plc		86,209		296,678
Kingfisher plc		161,921		523,441
Land Securities Group plc		31,696		243,251
Legal & General Group plc		210,040		621,251
Lloyds Banking Group plc		437,921		257,462
London Stock Exchange Group plc		7,929		770,185
Mondi plc		24,044		381,769
National Grid plc		77,306		1,045,778
NatWest Group plc		160,250		522,930
PEARSON plc - ADR		42,312		442,160
PEARSON plc		24,794		259,482
Prudential plc - ADR (a)		10,228		279,633
Reckitt Benckiser Group plc - ADR		34,350		531,515
Reckitt Benckiser Group plc		3,212		244,375
RELX plc - ADR		28,876		936,737
RELX plc		74,635		2,417,334
Rentokil Initial plc		28,495		208,269
Sage Group plc (The) - ADR		2,320		88,670
Sage Group plc (The)		14,027		134,617

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

COMMON STOCKS - 98.1% (Continued)	Shares		Fair Value
UNITED KINGDOM - 8.8% (Continued)
Segro plc		49,056	$	467,202
Severn Trent plc		16,234		576,712
Taylor Wimpey plc		108,822		160,105
Tesco plc - ADR		293		2,866
Tesco plc		144,166		472,665
Unilever plc - ADR		44,516		2,311,716
United Utilities Group plc		59,321		776,405
Vodafone Group plc - ADR		18,241		201,381
Whitbread plc		5,438		200,831
				32,582,259
TOTAL COMMON STOCKS (Cost $273,922,437)			$	365,265,203

CORPORATE NOTES - 0.8%	Coupon			Maturity		Par Value		Fair Value
COMMUNITY DEVELOPMENT - 0.8%
Calvert Social Investment Foundation, Inc. (d)		3.000	%		06/15/23	$	870,000	$	864,055
Calvert Social Investment Foundation, Inc. (d)		3.000	%		12/15/23		480,000		470,207
Calvert Social Investment Foundation, Inc. (d)		1.000	%		06/14/24		450,000		425,595
Calvert Social Investment Foundation, Inc. (d)		3.000	%		06/17/24		290,000		280,740
Calvert Social Investment Foundation, Inc. (d)		3.000	%		12/15/24		120,000		114,808
Calvert Social Investment Foundation, Inc. (d)		2.500	%		06/13/25		500,000		468,320
Calvert Social Investment Foundation, Inc. (d)		2.500	%		12/15/25		400,000		370,383
TOTAL CORPORATE NOTES (Cost $3,110,000)								$	2,994,108

MONEY MARKET FUNDS - 0.3%	Shares		Fair Value
First American Government Obligations Fund - Class X, 4.65% (f) (Cost $1,238,957)		1,238,957	$	1,238,957

Schedule of Portfolio Investments (Continued)

Praxis International Index Fund

INVESTMENT PURCHASED WITH THE CASH PROCEEDS FROM SECURITIES LENDING - 8.3%	Shares		Fair Value
Mount Vernon Liquid Assets Portfolio, LLC, 4.93% (f)(g) (Cost $30,908,830)		30,908,830	$	30,908,830
TOTAL INVESTMENTS - (Cost $309,180,224) - 107.5%			$	400,407,098
LIABILITES IN EXESS OF OTHER ASSETS - (7.5%)				(28,133,507	)
NET ASSETS - 100.0%			$	372,273,591

(a)	All or a portion of the security is on loan.  The total fair value of the securities on loan as of March 31, 2023 was $30,199,926.
(b)	Non-income producing security.
(c)	Percentage rounds to less than 0.1%.
(d)	Illiquid securities are as follows:

	Acquisition	Current		Fair		% of Net
	Date	Cost		Value		Assets
Calvert Social Investment Foundation, Inc. 3.000%, 06/15/23	06/18/18	$	870,000	$	864,055		0.2	%
Calvert Social Investment Foundation, Inc. 3.000%, 12/15/23	12/17/18		480,000		470,207		0.1	%
Calvert Social Investment Foundation, Inc. 1.000%, 06/14/24	06/15/21		450,000		425,595		0.1	%
Calvert Social Investment Foundation, Inc. 3.000%, 06/17/24	06/17/19		290,000		280,740		0.1	%
Calvert Social Investment Foundation, Inc. 3.000%, 12/15/24	12/12/19		120,000		114,808		0.1	%
Calvert Social Investment Foundation, Inc. 2.500%, 06/13/25	06/12/20		500,000		468,320		0.1	%
Calvert Social Investment Foundation, Inc. 2.500%, 12/15/25	12/15/20		400,000		370,383		0.1	%
Mobile TeleSystems PJSC - ADR	07/19/11		752,376		869		0.0	%(c)
		$	3,862,376	$	2,994,977		0.8	%

(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, 2023 representing 0.0% (c) of net assets.
(f)	The rate shown is the 7-day effective yield as of March 31, 2023.
(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, 2023 (Unaudited) 

Common Stocks by Sector/Industry	% of Net Assets
Communications - 9.6%
Advertising & Marketing	0.5	%
Cable & Satellite	0.1	%
Entertainment Content	0.8	%
Internet Media & Services	3.5	%
Publishing & Broadcasting	0.4	%
Telecommunications	4.3	%
Consumer Discretionary - 9.9%
Apparel & Textile Products	1.5	%
Automotive	3.2	%
E-Commerce Discretionary	1.1	%
Home & Office Products *	0.0	%
Home Construction	0.8	%
Leisure Facilities & Services	0.6	%
Leisure Products	0.3	%
Retail - Discretionary	2.0	%
Wholesale - Discretionary	0.4	%
Consumer Staples - 7.0%
Beverages	1.1	%
Food	1.8	%
Household Products	2.2	%
Retail - Consumer Staples	1.5	%
Wholesale - Consumer Staples	0.4	%
Energy - 3.5%
Oil & Gas Producers	3.3	%
Renewable Energy	0.2	%
Financials - 19.9%
Asset Management	1.8	%
Banking	11.9	%
Institutional Financial Services	1.0	%
Insurance	4.9	%
Specialty Finance	0.3	%

Schedule of Portfolio Investments (Continued) 

Common Stocks by Sector/Industry (Continued)	% of Net Assets
Health Care - 8.4%
Biotech & Pharma	5.7	%
Health Care Facilities & Services	1.0	%
Medical Equipment & Devices	1.7	%
Industrials - 9.6%
Commercial Support Services	1.7	%
Diversified Industrials	0.5	%
Electrical Equipment	1.8	%
Engineering & Construction	0.1	%
Industrial Support Services	0.3	%
Machinery	1.2	%
Transportation & Logistics	3.9	%
Transportation Equipment	0.1	%
Materials - 8.7%
Chemicals	2.4	%
Construction Materials	0.6	%
Containers & Packaging	0.5	%
Forestry, Paper & Wood Products	0.5	%
Metals & Mining	3.4	%
Steel	1.3	%
Real Estate - 3.7%
Real Estate Owners & Developers	1.6	%
Real Estate Services *	0.0	%
REITs	2.1	%
Technology - 15.6%
Semiconductors	5.2	%
Software	0.8	%
Technology Hardware	4.6	%
Technology Services	5.0	%
Utilities - 2.2%
Electric & Gas Marketing & Trading	0.2	%
Electric Utilities	1.5	%
Gas & Water Utilities	0.5	%
	98.1	%

* Amount rounds to less than 0.1%.

Schedule of Portfolio Investments

Praxis Value Index Fund

March 31, 2023 (Unaudited)       

COMMON STOCKS - 98.6%	Shares		Fair Value
ADVERTISING & MARKETING - 0.2%
Omnicom Group, Inc.		10,229	$	965,004
AEROSPACE & DEFENSE - 0.3%
TransDigm Group, Inc.		1,510		1,112,945
APPAREL & TEXTILE PRODUCTS - 1.0%
NIKE, Inc. - Class B (a)		29,440		3,610,521
VF Corp.		18,360		420,628
				4,031,149
ASSET MANAGEMENT - 1.2%
Ameriprise Financial, Inc.		1,540		472,010
BlackRock, Inc.		4,022		2,691,200
Charles Schwab Corp. (The)		17,660		925,031
Invesco Ltd.		34,830		571,212
T. Rowe Price Group, Inc. (a)		2,870		324,023
				4,983,476
AUTOMOTIVE - 1.0%
Aptiv plc (b)		7,050		790,939
BorgWarner, Inc.		14,870		730,266
Ford Motor Co.		104,753		1,319,888
General Motors Co.		37,320		1,368,898
				4,209,991
BANKING - 6.0%
Bank of America Corp.		192,070		5,493,202
Citigroup, Inc.		63,306		2,968,418
Citizens Financial Group, Inc. (a)		10,900		331,033
Fifth Third Bancorp		19,490		519,214
First Republic Bank (a)		4,180		58,478
Huntington Bancshares, Inc.		43,970		492,464
JPMorgan Chase & Co.		75,425		9,828,632
KeyCorp (a)		21,488		269,030
M&T Bank Corp. (a)		5,634		673,657
PNC Financial Services Group, Inc. (The)		11,131		1,414,750
Regions Financial Corp. (a)		24,860		461,402
Signature Bank		2,580		472
Truist Financial Corp.		40,660		1,386,506

Schedule of Portfolio Investments (Continued)

Praxis Value Index Fund        

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
BANKING - 6.0% (Continued)
U.S. Bancorp (a)		34,867	$	1,256,955
				25,154,213
BEVERAGES - 0.9%
Coca-Cola Co. (The)		40,420		2,507,253
Keurig Dr Pepper, Inc. (a)		12,430		438,530
PepsiCo, Inc.		4,139		754,540
				3,700,323
BIOTECH & PHARMA - 1.7%
Biogen, Inc. (b)		1,930		536,598
Gilead Sciences, Inc.		3,130		259,696
Johnson & Johnson		28,441		4,408,355
Viatris, Inc.		40,540		389,995
Zoetis, Inc.		10,000		1,664,400
				7,259,044
CABLE & SATELLITE - 1.4%
Charter Communications, Inc. - Class A (b)		2,520		901,177
Comcast Corp. - Class A		119,140		4,516,597
DISH Network Corp. - Class A (b)		34,020		317,407
				5,735,181
CHEMICALS - 3.0%
Air Products & Chemicals, Inc.		2,397		688,442
Dow, Inc.		7,400		405,668
DuPont de Nemours, Inc.		8,148		584,782
Ecolab, Inc. (a)		2,960		489,969
FMC Corp. (a)		2,410		294,333
International Flavors & Fragrances, Inc.		9,942		914,266
Linde plc (a)		15,566		5,532,779
LyondellBasell Industries N.V. - Class A		12,360		1,160,481
PPG Industries, Inc.		10,210		1,363,852
Sherwin-Williams Co. (The)		6,010		1,350,868
				12,785,440
COMMERCIAL SUPPORT SERVICES - 0.9%
Republic Services, Inc.		11,450		1,548,269
Robert Half International, Inc.		5,180		417,353
Rollins, Inc.		6,760		253,703
Waste Management, Inc.		10,650		1,737,760
				3,957,085

Schedule of Portfolio Investments (Continued)

Praxis Value Index Fund         

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
CONSTRUCTION MATERIALS - 0.1%
Martin Marietta Materials, Inc.		1,320	$	468,679
Vulcan Materials Co.		1,030		176,707
				645,386
CONTAINERS & PACKAGING - 0.1%
Amcor plc		23,320		265,382
WestRock Co.		10,430		317,802
				583,184
DIVERSIFIED INDUSTRIALS - 1.4%
Dover Corp.		5,253		798,141
Emerson Electric Co.		12,984		1,131,426
Illinois Tool Works, Inc. (a)		12,695		3,090,598
Pentair plc		12,120		669,872
				5,690,037
E-COMMERCE DISCRETIONARY - 3.3%
Amazon.com, Inc. (b)		122,600		12,663,354
eBay, Inc.		12,910		572,817
Etsy, Inc. (a)(b)		3,930		437,527
				13,673,698
ELECTRIC UTILITIES - 5.1%
AES Corp. (The)		10,154		244,508
Ameren Corp.		3,400		293,726
American Electric Power Co., Inc.		16,270		1,480,407
CenterPoint Energy, Inc.		19,510		574,765
CMS Energy Corp.		12,530		769,091
Consolidated Edison, Inc. (a)		29,931		2,863,499
DTE Energy Co.		4,170		456,782
Duke Energy Corp.		25,514		2,461,336
Edison International (a)		16,627		1,173,700
Eversource Energy		7,770		608,080
Exelon Corp.		34,410		1,441,435
NextEra Energy, Inc.		56,650		4,366,582
PPL Corp.		26,930		748,385
Sempra Energy		6,023		910,437
Southern Co. (The)		36,061		2,509,124
Xcel Energy, Inc.		9,744		657,135
				21,558,992
ELECTRICAL EQUIPMENT - 3.1%
AMETEK, Inc.		4,630		672,878

Schedule of Portfolio Investments (Continued)

Praxis Value Index Fund       

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
ELECTRICAL EQUIPMENT - 3.1% (Continued)
Carrier Global Corp.		22,720	$	1,039,440
Generac Holdings, Inc. (a)(b)		3,210		346,712
Johnson Controls International plc		38,687		2,329,731
Keysight Technologies, Inc. (b)		3,690		595,861
Otis Worldwide Corp.		20,480		1,728,512
Rockwell Automation, Inc. (a)		7,420		2,177,399
TE Connectivity Ltd.		14,490		1,900,364
Trane Technologies plc		10,390		1,911,552
Trimble, Inc. (b)		8,990		471,256
				13,173,705
ENGINEERING & CONSTRUCTION - 0.0% (c)
Quanta Services, Inc.		840		139,978
ENTERTAINMENT CONTENT - 1.9%
Activision Blizzard, Inc.		7,690		658,187
Electronic Arts, Inc.		3,150		379,417
Fox Corp. - Class B		13,000		407,030
Paramount Global - Class B (a)		18,226		406,622
Walt Disney Co. (The) (b)		47,699		4,776,101
Warner Bros. Discovery, Inc. (b)		88,447		1,335,550
				7,962,907
FOOD - 1.2%
Conagra Brands, Inc.		16,070		603,589
Hormel Foods Corp.		4,080		162,710
J.M. Smucker Co. (The)		5,630		885,993
Kellogg Co.		5,960		399,082
Kraft Heinz Co. (The)		26,030		1,006,580
McCormick & Co., Inc. (a)		6,090		506,749
Mondelez International, Inc. - Class A (a)		15,422		1,075,222
Tyson Foods, Inc. - Class A		8,430		500,068
				5,139,993
GAS & WATER UTILITIES - 0.3%
American Water Works Co., Inc.		4,090		599,144
NiSource, Inc.		19,060		532,918
				1,132,062
HEALTH CARE FACILITIES & SERVICES - 2.2%
AmerisourceBergen Corp.		4,700		752,517
Cardinal Health, Inc.		7,850		592,675

Schedule of Portfolio Investments (Continued)

Praxis Value Index Fund       

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
HEALTH CARE FACILITIES & SERVICES - 2.2% (Continued)
Catalent, Inc. (a)(b)		5,260	$	345,635
Cigna Group (The)		4,062		1,037,963
CVS Health Corp.		32,034		2,380,446
Elevance Health, Inc.		1,150		528,781
HCA Healthcare, Inc.		1,660		437,709
Humana, Inc. (a)		1,410		684,499
IQVIA Holdings, Inc. (b)		2,920		580,759
Laboratory Corp. of America Holdings		2,120		486,370
McKesson Corp.		3,384		1,204,873
UnitedHealth Group, Inc.		510		241,021
				9,273,248
HOME & OFFICE PRODUCTS - 0.1%
Whirlpool Corp. (a)		3,150		415,863
HOME CONSTRUCTION - 0.4%
D.R. Horton, Inc. (a)		3,300		322,377
Lennar Corp. - Class A (a)		6,340		666,397
NVR, Inc. (b)		130		724,385
				1,713,159
HOUSEHOLD PRODUCTS - 2.2%
Church & Dwight Co., Inc.		2,540		224,561
Clorox Co. (The) (a)		2,020		319,645
Estée Lauder Cos., Inc. (The) - Class A		4,940		1,217,512
Kimberly-Clark Corp.		12,700		1,704,594
Procter & Gamble Co. (The)		38,156		5,673,416
				9,139,728
INDUSTRIAL SUPPORT SERVICES - 0.4%
Fastenal Co.		9,800		528,612
United Rentals, Inc.		1,620		641,131
W.W. Grainger, Inc.		870		599,265
				1,769,008
INSTITUTIONAL FINANCIAL SERVICES - 3.1%
Bank of New York Mellon Corp. (The)		38,024		1,727,810
CME Group, Inc.		11,190		2,143,109
Goldman Sachs Group, Inc. (The)		9,160		2,996,327
Intercontinental Exchange, Inc.		16,430		1,713,485
Morgan Stanley (a)		35,391		3,107,330

Schedule of Portfolio Investments (Continued)      

Praxis Value Index Fund      

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
INSTITUTIONAL FINANCIAL SERVICES - 3.1% (Continued)
Nasdaq, Inc.		40	$	2,187
Northern Trust Corp. (a)		6,297		554,955
State Street Corp.		10,420		788,690
				13,033,893
INSURANCE - 5.1%
Aflac, Inc.		20,790		1,341,371
Allstate Corp. (The)		10,919		1,209,934
American International Group, Inc.		22,987		1,157,625
Aon plc - Class A		4,280		1,349,441
Arthur J. Gallagher & Co.		4,520		864,721
Assurant, Inc.		4,170		500,692
Berkley (W.R.) Corp.		9,825		611,704
Brown & Brown, Inc.		15,040		863,597
Chubb Ltd.		8,860		1,720,435
Cincinnati Financial Corp.		9,332		1,045,931
Everest Re Group Ltd.		2,840		1,016,777
Globe Life, Inc.		4,450		489,589
Hartford Financial Services Group, Inc. (The)		10,830		754,743
Lincoln National Corp.		16,990		381,765
Loews Corp.		25,180		1,460,944
Marsh & McLennan Cos., Inc.		7,170		1,194,163
MetLife, Inc.		23,733		1,375,090
Principal Financial Group, Inc.		4,530		336,670
Progressive Corp. (The)		8,230		1,177,384
Prudential Financial, Inc.		13,980		1,156,705
Travelers Cos., Inc. (The)		5,403		926,128
Willis Towers Watson plc		1,250		290,475
				21,225,884
INTERNET MEDIA & SERVICES - 4.6%
Booking Holdings, Inc. (b)		1,010		2,678,934
Match Group, Inc. (b)		14,910		572,395
Meta Platforms, Inc. - Class A (b)		56,990		12,078,460
Netflix, Inc. (b)		11,010		3,803,735
				19,133,524
LEISURE FACILITIES & SERVICES - 1.8%
Carnival Corp. (a)(b)		34,193		347,059
Darden Restaurants, Inc.		2,130		330,491

Schedule of Portfolio Investments (Continued)  

Praxis Value Index Fund  

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
LEISURE FACILITIES & SERVICES - 1.8% (Continued)
Hilton Worldwide Holdings, Inc.		6,420	$	904,386
Live Nation Entertainment, Inc. (a)(b)		6,980		488,600
Marriott International, Inc. - Class A		2,910		483,176
McDonald's Corp.		8,340		2,331,947
Royal Caribbean Cruises Ltd. (b)		4,840		316,052
Starbucks Corp.		16,870		1,756,673
Yum! Brands, Inc.		5,400		713,232
				7,671,616
LEISURE PRODUCTS - 0.4%
Hasbro, Inc.		29,200		1,567,748
MACHINERY - 1.0%
Deere & Co. (a)		907		374,482
IDEX Corp.		2,840		656,125
Ingersoll-Rand, Inc.		13,050		759,249
Nordson Corp. (a)		2,610		580,099
Stanley Black & Decker, Inc.		8,890		716,356
Xylem, Inc.		9,970		1,043,859
				4,130,170
MEDICAL EQUIPMENT & DEVICES - 5.7%
Abbott Laboratories		23,170		2,346,194
Agilent Technologies, Inc. (a)		1,990		275,297
Align Technology, Inc. (b)		2,500		835,350
Baxter International, Inc.		17,182		696,902
Becton, Dickinson and Co.		8,310		2,057,058
Bio-Rad Laboratories, Inc. - Class A (b)		720		344,894
Boston Scientific Corp. (b)		29,180		1,459,875
Cooper Cos., Inc. (The)		1,170		436,831
Danaher Corp. (a)		4,670		1,177,027
DENTSPLY SIRONA, Inc. (a)		10,150		398,692
Edwards Lifesciences Corp. (b)		11,480		949,740
GE HealthCare Technologies, Inc. (b)		4,240		347,807
IDEXX Laboratories, Inc. (b)		660		330,053
Illumina, Inc. (b)		5,030		1,169,727
Intuitive Surgical, Inc. (b)		4,520		1,154,724
Medtronic plc		33,680		2,715,282
PerkinElmer, Inc.		2,360		314,494

Schedule of Portfolio Investments (Continued)  

Praxis Value Index Fund  

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
MEDICAL EQUIPMENT & DEVICES - 5.7% (Continued)
ResMed, Inc.		2,370	$	519,006
Stryker Corp.		8,800		2,512,136
Teleflex, Inc.		2,740		694,069
Thermo Fisher Scientific, Inc. (a)		3,154		1,817,871
West Pharmaceutical Services, Inc.		1,260		436,552
Zimmer Biomet Holdings, Inc.		5,900		762,280
				23,751,861
METALS & MINING - 0.3%
Newmont Corp.		22,640		1,109,813
OIL & GAS PRODUCERS - 0.8%
ConocoPhillips		5,377		533,452
Pioneer Natural Resources Co.		3,330		680,119
Valero Energy Corp.		14,590		2,036,764
				3,250,335
OIL & GAS SERVICES & EQUIPMENT - 0.6%
Baker Hughes Co.		44,790		1,292,639
Schlumberger Ltd.		26,396		1,296,044
				2,588,683
REAL ESTATE SERVICES - 0.2%
CBRE Group, Inc. - Class A (b)		10,290		749,215
REITS - 4.5%
Alexandria Real Estate Equities, Inc.		5,380		675,674
American Tower Corp.		4,760		972,658
AvalonBay Communities, Inc. (a)		5,900		991,554
Boston Properties, Inc.		13,490		730,079
Crown Castle, Inc.		6,910		924,834
Digital Realty Trust, Inc.		8,840		869,060
Equinix, Inc.		2,350		1,694,444
Equity Residential		7,500		450,000
Essex Property Trust, Inc. (a)		1,340		280,248
Extra Space Storage, Inc.		290		47,250
Federal Realty Investment Trust		4,450		439,793
Healthpeak Properties, Inc.		20,530		451,044
Host Hotels & Resorts, Inc. (a)		20,470		337,550
Kimco Realty Corp.		22,420		437,863

Schedule of Portfolio Investments (Continued)  

Praxis Value Index Fund  

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
REITS - 4.5% (Continued)
Mid-America Apartment Communities, Inc.		2,890	$	436,506
Prologis, Inc.		26,080		3,254,002
Public Storage		1,920		580,109
Realty Income Corp.		20,130		1,274,632
Regency Centers Corp.		9,230		564,691
SBA Communications Corp. - Class A		1,660		433,376
Simon Property Group, Inc.		8,469		948,274
UDR, Inc.		8,600		353,116
Ventas, Inc. (a)		11,270		488,554
VICI Properties, Inc. (a)		9,190		299,778
Welltower, Inc.		13,540		970,683
				18,905,772
RETAIL - CONSUMER STAPLES - 2.6%
Costco Wholesale Corp.		3,700		1,838,419
Dollar General Corp.		1,190		250,447
Kroger Co. (The)		20,514		1,012,776
Target Corp.		9,860		1,633,112
Walgreen Boots Alliance, Inc.		22,490		777,704
Walmart, Inc.		37,380		5,511,681
				11,024,139
RETAIL - DISCRETIONARY - 1.8%
AutoZone, Inc. (b)		240		589,956
Bath & Body Works, Inc.		7,140		261,181
CarMax, Inc. (a)(b)		3,630		233,336
Genuine Parts Co.		4,570		764,607
Home Depot, Inc. (The) (a)		10,732		3,167,228
Lowe's Cos., Inc.		4,570		913,863
Ross Stores, Inc.		8,070		856,469
TJX Cos., Inc. (The)		12,030		942,671
				7,729,311
SEMICONDUCTORS - 3.4%
Advanced Micro Devices, Inc. (b)		16,990		1,665,190
Analog Devices, Inc.		6,980		1,376,595
Broadcom, Inc.		4,180		2,681,637
Intel Corp.		112,288		3,668,449
Microchip Technology, Inc.		4,630		387,901
Micron Technology, Inc. (a)		29,590		1,785,461
NVIDIA Corp.		510		141,663

Schedule of Portfolio Investments (Continued)  

Praxis Value Index Fund  

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
SEMICONDUCTORS - 3.4% (Continued)
NXP Semiconductors N.V.		2,190	$	408,380
Qorvo, Inc. (b)		4,610		468,238
Skyworks Solutions, Inc.		2,870		338,603
Texas Instruments, Inc. (a)		6,950		1,292,769
				14,214,886
SOFTWARE - 9.2%
Adobe, Inc. (b)		6,460		2,489,490
ANSYS, Inc. (b)		1,760		585,728
Autodesk, Inc. (b)		2,650		551,624
Ceridian HCM Holding, Inc. (b)		4,490		328,758
Gen Digital, Inc.		15,800		271,128
Intuit, Inc.		3,330		1,484,614
Microsoft Corp.		81,860		23,600,238
Oracle Corp.		23,412		2,175,443
Roper Technologies, Inc.		3,030		1,335,291
Salesforce.com, Inc. (b)		26,700		5,334,126
Synopsys, Inc. (b)		920		355,350
				38,511,790
SPECIALTY FINANCE - 0.7%
American Express Co.		9,754		1,608,922
Capital One Financial Corp.		12,880		1,238,541
Synchrony Financial		10,350		300,978
				3,148,441
STEEL - 0.1%
Nucor Corp. (a)		2,220		342,923
TECHNOLOGY HARDWARE - 2.2%
Cisco Systems, Inc.		110,020		5,751,295
Corning, Inc.		14,610		515,441
F5, Inc. (b)		2,100		305,949
Garmin Ltd.		30		3,028
Hewlett Packard Enterprise Co.		27,900		444,447
HP, Inc.		26,820		787,167
Seagate Technology Holdings plc		5,690		376,223
Western Digital Corp. (b)		11,965		450,721
Zebra Technologies Corp. - Class A (a)(b)		1,540		489,720
				9,123,991

Schedule of Portfolio Investments (Continued)  

Praxis Value Index Fund  

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
TECHNOLOGY SERVICES - 4.9%
Accenture plc - Class A		16,780	$	4,795,892
Automatic Data Processing, Inc.		880		195,914
Cognizant Technology Solutions Corp. - Class A		10,200		621,486
DXC Technology Co. (a)(b)		15,380		393,113
EPAM Systems, Inc. (b)		1,050		313,950
Equifax, Inc.		460		93,306
Fidelity National Information Services, Inc.		21,130		1,147,993
Fiserv, Inc. (b)		8,480		958,494
Global Payments, Inc.		8,590		904,011
International Business Machines Corp.		23,592		3,092,675
Mastercard, Inc. - Class A		860		312,533
Moody's Corp.		1,080		330,502
MSCI, Inc.		1,140		638,047
Paychex, Inc.		3,334		382,043
PayPal Holdings, Inc. (b)		28,270		2,146,824
S&P Global, Inc.		8,310		2,865,039
Verisk Analytics, Inc. (a)		5,050		968,893
Visa, Inc. - Class A (a)		1,450		326,917
				20,487,632
TELECOMMUNICATIONS - 2.1%
AT&T, Inc.		204,646		3,939,436
T-Mobile US, Inc. (b)		6,580		953,047
Verizon Communications, Inc.		104,080		4,047,671
				8,940,154
TRANSPORTATION & LOGISTICS - 3.3%
Alaska Air Group, Inc. (b)		9,130		383,095
American Airlines Group, Inc. (b)		24,860		366,685
C.H. Robinson Worldwide, Inc. (a)		6,070		603,176
CSX Corp.		31,150		932,631
Delta Air Lines, Inc. (b)		21,130		737,860
FedEx Corp.		6,880		1,572,011
J.B. Hunt Transport Services, Inc.		4,690		822,907
Norfolk Southern Corp.		7,190		1,524,280
Southwest Airlines Co.		24,810		807,317
Union Pacific Corp.		9,000		1,811,340
United Airlines Holdings, Inc. (b)		13,060		577,905
United Parcel Service, Inc. - Class B		18,730		3,633,433
				13,772,640

Schedule of Portfolio Investments (Continued)  

Praxis Value Index Fund  

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
TRANSPORTATION EQUIPMENT - 0.4%
PACCAR, Inc.		12,210	$	893,772
Westinghouse Air Brake Technologies Corp.		6,250		631,625
				1,525,397
WHOLESALE - CONSUMER STAPLES - 0.3%
Archer-Daniels-Midland Co. (a)		5,880		468,401
Sysco Corp. (a)		11,430		882,739
				1,351,140
WHOLESALE - DISCRETIONARY - 0.1%
LKQ Corp.		5,170		293,449
TOTAL COMMON STOCKS (COST $346,829,214)			$	413,489,206

CORPORATE NOTES - 0.8%	Coupon			Maturity	Principal Amount		Fair Value
COMMUNITY DEVELOPMENT - 0.8%
Calvert Social Investment Foundation, Inc. (d)		3.000	%	06/15/23	$	450,000	$	446,925
Calvert Social Investment Foundation, Inc. (d)		3.000	%	12/15/23		720,000		705,310
Calvert Social Investment Foundation, Inc. (d)		1.000	%	06/14/24		750,000		709,325
Calvert Social Investment Foundation, Inc. (d)		3.000	%	06/17/24		280,000		271,060
Calvert Social Investment Foundation, Inc. (d)		3.000	%	12/15/24		250,000		239,183
Calvert Social Investment Foundation, Inc. (d)		2.500	%	06/13/25		280,000		262,259
Calvert Social Investment Foundation, Inc. (d)		2.500	%	12/15/25		450,000		416,681
Capital Impact Partners (d)		4.800	%	12/15/23		450,000		450,213
TOTAL CORPORATE NOTES (COST $3,630,000)							$	3,500,956

MONEY MARKET FUNDS - 0.4%	Shares		Fair Value
First American Government Obligations Fund - Class X, 4.65% (e) (COST $1,660,965)		1,660,965	$	1,660,965

Schedule of Portfolio Investments (Continued)  

Praxis Value Index Fund  

INVESTMENT PURCHASED WITH THE CASH PROCEEDS FROM SECURITIES LENDING - 8.3%	Shares		Fair Value
Mount Vernon Liquid Assets Portfolio, LLC, 4.93% (e)(f) (COST $34,685,253)		34,685,253	$	34,685,253
TOTAL INVESTMENTS - (COST $386,805,432) - 108.1%			$	453,336,380
LIABILITIES IN EXCESS OF OTHER ASSETS - (8.1%)				(34,019,580	)
NET ASSETS - 100.0%			$	419,316,800

(a)	All or a portion of the security is on loan.  The total fair value of the securities on loan as of March 31, 2023 was $34,403,561.
(b)	Non-income producing security.
(c)	Percentage rounds to less than 0.1%.
(d)	Illiquid securities are as follows:

	Acquisition	Current		Fair		% of Net
	Date	Cost		Value		Assets
Calvert Social Investment Foundation, Inc.  3.000%, 06/15/23	06/18/18		450,000		446,925		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 12/15/23	12/17/18		720,000		705,310		0.2	%
Calvert Social Investment Foundation, Inc.  1.000%, 06/14/24	06/15/21		750,000		709,325		0.2	%
Calvert Social Investment Foundation, Inc.  3.000%, 06/17/24	06/17/19		280,000		271,060		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 12/15/24	12/12/19		250,000		239,183		0.0	%(c)
Calvert Social Investment Foundation, Inc.  2.500%, 06/13/25	06/12/20		280,000		262,259		0.0	%(c)
Calvert Social Investment Foundation, Inc.  2.500%, 12/15/25	12/15/20		450,000		416,681		0.1	%
Capital Impact Partners 4.800%, 12/15/23	12/19/22		450,000		450,213		0.1	%
		$	3,630,000	$	3,500,956		0.8	%

(e)	The rate shown is the 7-day effective yield as of March 31, 2023.
(f)	The security was purchased with cash collateral received from securities on loan.

plc - Public Liability Company

Schedule of Portfolio Investments  

Praxis Growth Index Fund  

March 31, 2023 (Unaudited)  

COMMON STOCKS - 98.9%	Shares		Fair Value
ADVERTISING & MARKETING - 0.1%
Interpublic Group of Cos., Inc. (The)		11,200	$	417,088
AEROSPACE & DEFENSE - 0.3%
Howmet Aerospace, Inc.		17,210		729,188
TransDigm Group, Inc.		870		641,233
				1,370,421
ASSET MANAGEMENT - 0.4%
Ameriprise Financial, Inc.		2,880		882,720
BlackRock, Inc.		923		617,598
Charles Schwab Corp. (The)		5,930		310,613
				1,810,931
AUTOMOTIVE - 2.9%
Tesla, Inc. (a)(b)		66,920		13,883,223
BANKING - 0.2%
Regions Financial Corp. (b)		35,280		654,797
Truist Financial Corp.		9,100		310,310
				965,107
BEVERAGES - 3.1%
Coca-Cola Co. (The)		55,720		3,456,312
Monster Beverage Corp. (a)		6,720		362,947
PepsiCo, Inc.		59,540		10,854,142
				14,673,401
BIOTECH & PHARMA - 10.2%
AbbVie, Inc. (b)		44,181		7,041,126
Amgen, Inc.		15,744		3,806,112
Biogen, Inc. (a)		2,020		561,620
Bristol-Myers Squibb Co.		63,056		4,370,411
Eli Lilly & Co.		21,650		7,435,043
Gilead Sciences, Inc.		36,000		2,986,920
Incyte Corp. (a)		3,300		238,491
Johnson & Johnson		43,618		6,760,790
Merck & Co., Inc.		77,971		8,295,335
Moderna, Inc. (a)		8,160		1,253,213
Regeneron Pharmaceuticals, Inc. (a)		3,671		3,016,350
Vertex Pharmaceuticals, Inc. (a)		8,324		2,622,643

Schedule of Portfolio Investments (Continued)  

Praxis Growth Index Fund  

COMMON STOCKS - 98.9% (Continued)	Shares		Fair Value
BIOTECH & PHARMA - 10.2% (Continued)
Zoetis, Inc.		3,590	$	597,520
				48,985,574
CHEMICALS - 2.2%
Air Products & Chemicals, Inc.		8,000		2,297,680
Albemarle Corp.		1,330		293,983
CF Industries Holdings, Inc. (b)		1,610		116,709
Linde plc		13,918		4,947,014
LyondellBasell Industries N.V. - Class A		30,530		2,866,462
Mosaic Company (The)		6,010		275,739
				10,797,587
COMMERCIAL SUPPORT SERVICES - 0.4%
Cintas Corp.		900		416,412
Rollins, Inc.		14,180		532,175
Waste Management, Inc.		6,464		1,054,731
				2,003,318
CONTAINERS & PACKAGING - 0.1%
Amcor plc		55,690		633,752
DIVERSIFIED INDUSTRIALS - 0.2%
Illinois Tool Works, Inc. (b)		3,694		899,304
E-COMMERCE DISCRETIONARY - 2.0%
Amazon.com, Inc. (a)		92,330		9,536,766
ELECTRIC UTILITIES - 0.7%
Consolidated Edison, Inc. (b)		8,140		778,754
Eversource Energy		10,190		797,469
NextEra Energy, Inc.		5,814		448,143
Sempra Energy		8,900		1,345,324
				3,369,690
ELECTRICAL EQUIPMENT - 1.1%
Amphenol Corp. - Class A		10,642		869,664
Johnson Controls International plc		7,170		431,778
Keysight Technologies, Inc. (a)		6,221		1,004,567
Otis Worldwide Corp.		4,950		417,780
Rockwell Automation, Inc. (b)		5,278		1,548,829
Trane Technologies plc		5,710		1,050,526
				5,323,144

Schedule of Portfolio Investments (Continued)  

Praxis Growth Index Fund  

COMMON STOCKS - 98.9% (Continued)	Shares		Fair Value
ENTERTAINMENT CONTENT - 0.3%
Activision Blizzard, Inc.		6,180	$	528,946
Electronic Arts, Inc.		3,415		411,337
Walt Disney Co. (The) (a)		5,103		510,963
				1,451,246
FOOD - 1.5%
Campbell Soup Co. (b)		21,660		1,190,867
General Mills, Inc.		32,720		2,796,251
Hershey Co. (The)		5,470		1,391,623
Lamb Weston Holdings, Inc.		3,900		407,628
Mondelez International, Inc. - Class A (b)		18,960		1,321,891
				7,108,260
GAS & WATER UTILITIES - 0.3%
American Water Works Co., Inc.		10,730		1,571,838
HEALTH CARE FACILITIES & SERVICES - 3.9%
AmerisourceBergen Corp.		4,700		752,517
Cardinal Health, Inc.		6,390		482,445
Cigna Group (The)		3,330		850,915
Elevance Health, Inc.		4,760		2,188,696
Henry Schein, Inc. (a)		8,260		673,520
Humana, Inc. (b)		1,060		514,588
IQVIA Holdings, Inc. (a)		2,778		552,516
McKesson Corp.		5,580		1,986,759
UnitedHealth Group, Inc.		22,730		10,741,971
				18,743,927
HOUSEHOLD PRODUCTS - 1.2%
Church & Dwight Co., Inc.		9,850		870,839
Colgate-Palmolive Co.		15,207		1,142,806
Kimberly-Clark Corp.		4,670		626,807
Procter & Gamble Co. (The)		20,980		3,119,516
				5,759,968
INDUSTRIAL SUPPORT SERVICES - 0.4%
W.W. Grainger, Inc.		2,530		1,742,689
INSTITUTIONAL FINANCIAL SERVICES - 0.4%
Intercontinental Exchange, Inc.		12,941		1,349,617
Nasdaq, Inc.		8,490		464,148
				1,813,765

Schedule of Portfolio Investments (Continued)  

Praxis Growth Index Fund  

COMMON STOCKS - 98.9% (Continued)	Shares		Fair Value
INSURANCE - 0.8%
Aon plc - Class A		1,260	$	397,266
Arch Capital Group Ltd. (a)		5,760		390,931
Marsh & McLennan Cos., Inc.		4,260		709,503
Progressive Corp. (The)		14,480		2,071,509
Travelers Cos., Inc. (The)		1,830		313,680
				3,882,889
INTERNET MEDIA & SERVICES - 6.1%
Alphabet, Inc. - Class A (a)		156,720		16,256,566
Alphabet, Inc. - Class C (a)		124,120		12,908,480
				29,165,046
LEISURE FACILITIES & SERVICES - 1.4%
Chipotle Mexican Grill, Inc. (a)		617		1,054,015
Hilton Worldwide Holdings, Inc.		5,110		719,846
Marriott International, Inc. - Class A		1,980		328,759
McDonald's Corp.		11,447		3,200,695
Starbucks Corp.		9,152		952,998
Yum! Brands, Inc.		4,940		652,475
				6,908,788
MACHINERY - 1.0%
Deere & Co.		8,086		3,338,547
IDEX Corp.		2,890		667,677
Xylem, Inc.		7,650		800,955
				4,807,179
MEDICAL EQUIPMENT & DEVICES - 4.2%
Abbott Laboratories		20,676		2,093,652
Agilent Technologies, Inc.		8,185		1,132,313
Boston Scientific Corp. (a)		12,030		601,861
Cooper Cos., Inc. (The)		1,311		489,475
Danaher Corp. (b)		17,684		4,457,075
DexCom, Inc. (a)		9,570		1,111,842
IDEXX Laboratories, Inc. (a)		1,700		850,136
Illumina, Inc. (a)		2,758		641,373
Intuitive Surgical, Inc. (a)		1,780		454,737
Mettler-Toledo International, Inc. (a)(b)		960		1,469,002
PerkinElmer, Inc.		4,400		586,344
Thermo Fisher Scientific, Inc. (b)		10,265		5,916,438
Waters Corp. (a)		1,646		509,651
				20,313,899

Schedule of Portfolio Investments (Continued)  

Praxis Growth Index Fund  

COMMON STOCKS - 98.9% (Continued)	Shares		Fair Value
OIL & GAS PRODUCERS - 4.7%
ConocoPhillips		117,220	$	11,629,396
Pioneer Natural Resources Co.		37,050		7,567,092
Valero Energy Corp.		25,340		3,537,464
				22,733,952
OIL & GAS SERVICES & EQUIPMENT - 1.1%
Baker Hughes Co.		76,150		2,197,689
Schlumberger Ltd.		64,140		3,149,274
				5,346,963
REAL ESTATE SERVICES - 0.7%
CBRE Group, Inc. - Class A (a)		45,503		3,313,073
REITS - 1.5%
American Tower Corp.		8,562		1,749,559
Crown Castle, Inc.		5,259		703,864
Equinix, Inc.		2,277		1,641,808
Host Hotels & Resorts, Inc. (b)		22,400		369,376
Iron Mountain, Inc.		8,670		458,730
Prologis, Inc.		6,088		759,600
Public Storage		1,350		407,889
SBA Communications Corp. - Class A		1,668		435,465
VICI Properties, Inc (b)		14,310		466,792
				6,993,083
RENEWABLE ENERGY - 0.4%
Enphase Energy, Inc. (a)		2,690		565,653
First Solar, Inc. (a)(b)		4,200		913,500
SolarEdge Technologies, Inc. (a)		1,750		531,913
				2,011,066
RETAIL - CONSUMER STAPLES - 0.7%
Costco Wholesale Corp.		3,333		1,656,068
Dollar General Corp.		4,053		852,994
Dollar Tree, Inc. (a)		1,220		175,131
Walgreen Boots Alliance, Inc.		17,030		588,897
				3,273,090
RETAIL - DISCRETIONARY - 3.0%
AutoZone, Inc. (a)		659		1,619,921
Genuine Parts Co.		6,140		1,027,283
Home Depot, Inc. (The)		16,306		4,812,227
Lowe's Cos., Inc.		13,349		2,669,400

Schedule of Portfolio Investments (Continued)

Praxis Growth Index Fund

COMMON STOCKS - 98.9% (Continued)	Shares		Fair Value
RETAIL - DISCRETIONARY - 3.0% (Continued)
O'Reilly Automotive, Inc. (a)		1,810	$	1,536,654
TJX Cos., Inc. (The)		18,753		1,469,485
Tractor Supply Co.		2,060		484,182
Ulta Beauty, Inc. (a)		1,070		583,867
				14,203,019
SEMICONDUCTORS - 7.3%
Advanced Micro Devices, Inc. (a)		16,796		1,646,176
Analog Devices, Inc.		4,584		904,057
Applied Materials, Inc.		22,816		2,802,489
Broadcom, Inc.		5,539		3,553,490
Lam Research Corp.		2,633		1,395,806
NVIDIA Corp.		62,256		17,292,849
NXP Semiconductors N.V.		2,220		413,975
ON Semiconductor Corp. (a)(b)		10,610		873,415
QUALCOMM, Inc.		27,400		3,495,692
Texas Instruments, Inc. (b)		13,417		2,495,696
				34,873,645
SOFTWARE - 10.6%
Adobe, Inc. (a)		2,177		838,951
ANSYS, Inc. (a)		1,328		441,958
Autodesk, Inc. (a)		1,516		315,571
Cadence Design Systems, Inc. (a)		10,624		2,231,996
Gen Digital, Inc.		5,360		91,978
Intuit, Inc.		2,800		1,248,324
Microsoft Corp.		128,238		36,971,015
Oracle Corp.		37,870		3,518,880
Paycom Software, Inc. (a)		1,910		580,659
PTC, Inc. (a)		6,510		834,777
ServiceNow, Inc. (a)		3,323		1,544,265
Synopsys, Inc. (a)		6,460		2,495,175
				51,113,549
SPECIALTY FINANCE - 0.3%
American Express Co.		7,720		1,273,414
STEEL - 0.1%
Nucor Corp. (b)		3,250		502,027

Schedule of Portfolio Investments (Continued)

Praxis Growth Index Fund

COMMON STOCKS - 98.9% (Continued)	Shares		Fair Value
TECHNOLOGY HARDWARE - 14.4%
Apple, Inc.		399,198	$	65,827,750
Arista Networks, Inc. (a)		7,440		1,248,878
Cisco Systems, Inc.		7,020		366,971
HP, Inc.		12,500		366,875
Juniper Networks, Inc.		16,400		564,488
NetApp, Inc.		10,730		685,111
				69,060,073
TECHNOLOGY SERVICES - 6.9%
Accenture plc - Class A		17,989		5,141,436
Automatic Data Processing, Inc.		13,460		2,996,600
Broadridge Financial Solutions, Inc.		2,596		380,496
Fiserv, Inc. (a)		11,266		1,273,396
Gartner, Inc. (a)		10		3,258
International Business Machines Corp.		2,900		380,161
Jack Henry & Associates, Inc. (b)		3,660		551,635
MarketAxess Holdings, Inc.		1,390		543,893
Mastercard, Inc. - Class A		22,916		8,327,904
Moody's Corp.		3,375		1,032,817
MSCI, Inc.		1,797		1,005,763
S&P Global, Inc.		2,494		859,856
Visa, Inc. - Class A (b)		46,423		10,466,530
				32,963,745
TELECOMMUNICATIONS - 0.1%
T-Mobile US, Inc. (a)		3,790		548,944
TRANSPORTATION & LOGISTICS - 1.4%
Alaska Air Group, Inc. (a)		7,690		322,672
American Airlines Group, Inc. (a)		43,510		641,773
CSX Corp.		22,471		672,782
Delta Air Lines, Inc. (a)		11,420		398,786
Expeditors International of Washington, Inc.		4,770		525,272
J.B. Hunt Transport Services, Inc.		2,270		398,294
Old Dominion Freight Line, Inc.		2,950		1,005,478
Southwest Airlines Co.		10,060		327,352
Union Pacific Corp.		3,921		789,141
United Airlines Holdings, Inc. (a)		8,760		387,630
United Parcel Service, Inc. - Class B		7,445		1,444,256
				6,913,436

Schedule of Portfolio Investments (Continued)

Praxis Growth Index Fund

COMMON STOCKS - 98.9% (Continued)	Shares		Fair Value
WHOLESALE - CONSUMER STAPLES - 0.1%
Sysco Corp.		5,970	$	461,063
WHOLESALE - DISCRETIONARY - 0.2%
Copart, Inc. (a)		10,326		776,618
TOTAL COMMON STOCKS (COST $294,169,663)			$	474,299,560

CORPORATE NOTES - 0.8%	Coupon			Maturity	Principal Amount		Fair Value
COMMUNITY DEVELOPMENT - 0.8%
Calvert Social Investment Foundation, Inc. (c)		3.000	%	06/15/23	$	900,000	$	893,851
Calvert Social Investment Foundation, Inc. (c)		3.000	%	12/15/23		200,000		195,919
Calvert Social Investment Foundation, Inc. (c)		1.000	%	06/14/24		520,000		491,799
Calvert Social Investment Foundation, Inc. (c)		3.000	%	06/17/24		550,000		532,438
Calvert Social Investment Foundation, Inc. (c)		3.000	%	12/15/24		150,000		143,510
Calvert Social Investment Foundation, Inc. (c)		2.500	%	06/13/25		670,000		627,549
Calvert Social Investment Foundation, Inc. (c)		2.500	%	12/15/25		500,000		462,979
Capital Impact Partners (c)		4.800	%	12/15/23		600,000		600,284
TOTAL CORPORATE NOTES (COST $4,090,000)							$	3,948,329

MONEY MARKET FUNDS - 0.2%	Shares		Fair Value
First American Government Obligations Fund - Class X, 4.65% (d) (COST $1,140,889)		1,140,889	$	1,140,889

Schedule of Portfolio Investments (Continued)  

Praxis Growth Index Fund

INVESTMENT PURCHASED WITH THE CASH PROCEEDS FROM SECURITIES LENDING - 11.4%	Shares		Fair Value
Mount Vernon Liquid Assets Portfolio, LLC, 4.93% (d)(e) (COST $54,579,859)		54,579,859	$	54,579,859
TOTAL INVESTMENTS - (COST $353,980,411) - 111.3%			$	533,968,637
LIABILITIES IN EXCESS OF OTHER ASSETS - (11.3%)				(54,206,586	)
NET ASSETS - 100.0%			$	479,762,051

(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, 2023 was $54,823,301.
(c)	Illiquid securities are as follows:

	Acquisition Date	Current Cost		Fair Value		% of Net Assets
Calvert Social Investment Foundation, Inc.  3.000%, 06/15/23	06/18/18		900,000		893,851		0.2	%
Calvert Social Investment Foundation, Inc.  3.000%, 12/15/23	12/17/18		200,000		195,919		0.1	%
Calvert Social Investment Foundation, Inc.  1.000%, 06/14/24	06/15/21		520,000		491,799		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 06/17/24	06/17/19		550,000		532,438		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 12/15/24	12/12/19		150,000		143,510		0.0	%(f)
Calvert Social Investment Foundation, Inc.  2.500%, 06/13/25	06/12/20		670,000		627,549		0.1	%
Calvert Social Investment Foundation, Inc.  2.500%, 12/15/25	12/15/20		500,000		462,979		0.1	%
Capital Impact Partners 4.800%, 12/15/23	12/19/22		600,000		600,284		0.1	%
		$	4,090,000	$	3,948,329		0.8	%

(d)	The rate shown is the 7-day effective yield as of March 31, 2023.
(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, 2023 (Unaudited)

COMMON STOCKS - 98.6%	Shares		Fair Value
ADVERTISING & MARKETING - 0.2%
QuinStreet, Inc. (a)		15,700	$	249,159
AEROSPACE & DEFENSE - 0.2%
Barnes Group, Inc.		6,060		244,097
APPAREL & TEXTILE PRODUCTS - 1.2%
Hanesbrands, Inc. (b)		75,150		395,289
Kontoor Brands, Inc. (b)		7,330		354,699
Movado Group, Inc.		6,810		195,924
Oxford Industries, Inc.		3,465		365,869
Steven Madden Ltd.		11,935		429,660
				1,741,441
ASSET MANAGEMENT - 0.7%
Avantax, Inc. (a)		15,340		403,749
B. Riley Financial, Inc. (b)		3,850		109,301
BrightSphere Investment Group, Inc.		7,030		165,767
Star Holdings (a)		4,715		82,002
Virtus Investment Partners, Inc.		920		175,159
WisdomTree Investments, Inc.		21,350		125,111
				1,061,089
AUTOMOTIVE - 1.0%
American Axle & Manufacturing Holdings, Inc. (a)		25,710		200,795
Dorman Products, Inc. (a)		3,060		263,955
Gentherm, Inc. (a)		6,580		397,564
Methode Electronics, Inc.		8,170		358,500
XPEL, Inc. (a)		3,920		266,364
				1,487,178
BANKING - 9.1%
Ameris Bancorp		10,274		375,823
Atlantic Union Bankshares Corp.		3,030		106,202
Axos Financial, Inc. (a)(b)		8,590		317,143
Banc of California, Inc.		9,670		121,165
BancFirst Corp.		3,710		308,301
Bancorp, Inc. (The) (a)		10,190		283,792
BankUnited, Inc. (b)		12,200		275,476
Banner Corp.		6,070		330,026
Berkshire Hills Bancorp, Inc.		7,000		175,420

Schedule of Portfolio Investments (Continued)

Praxis Small Cap Index Fund

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
BANKING - 9.1% (Continued)
Brookline Bancorp, Inc.		15,670	$	164,535
Capitol Federal Financial, Inc.		21,140		142,272
Central Pacific Financial Corp.		5,870		105,073
City Holding Co.		2,750		249,920
Community Bank System, Inc.		6,810		357,457
Customers Bancorp, Inc. (a)		10,660		197,423
CVB Financial Corp.		8,690		144,949
Dime Community Bancshares, Inc.		5,099		115,849
Eagle Bancorp, Inc.		4,960		166,011
FB Financial Corp.		3,496		108,656
First BanCorp.		38,970		445,038
First Bancorp/NC		5,760		204,595
First Commonwealth Financial Corp.		16,040		199,377
First Financial Bancorp		14,510		315,883
First Hawaiian, Inc.		19,630		404,967
Hanmi Financial Corp.		9,870		183,286
Heritage Financial Corp.		8,470		181,258
Hilltop Holdings, Inc.		3,420		101,471
HomeStreet, Inc.		11,670		209,943
Hope Bancorp, Inc.		13,790		135,418
Independent Bank Corp.		6,760		443,591
Independent Bank Group, Inc.		4,740		219,699
Lakeland Financial Corp.		5,160		323,222
National Bank Holdings Corp. - Class A		6,570		219,832
NBT Bancorp, Inc.		10,730		361,708
Northwest Bancshares, Inc.		16,270		195,728
OFG Bancorp		7,230		180,316
Pacific Premier Bancorp, Inc.		15,096		362,606
Park National Corp. (b)		2,050		243,069
Pathward Financial, Inc.		6,750		280,058
Preferred Bank		2,910		159,497
Provident Financial Services, Inc.		14,360		275,425
Renasant Corp.		9,410		287,758
S&T Bancorp, Inc.		3,290		103,471
Seacoast Banking Corp. of Florida		11,950		283,215
ServisFirst Bancshares, Inc. (b)		10,670		582,902
Simmons First National Corp. - Class A		20,420		357,146
Southside Bancshares, Inc.		4,987		165,568

Schedule of Portfolio Investments (Continued)

Praxis Small Cap Index Fund

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
BANKING - 9.1% (Continued)
Tompkins Financial Corp.		1,620	$	107,260
Triumph Financial, Inc. (a)		5,040		292,622
Trustmark Corp.		12,050		297,635
United Community Banks, Inc. (b)		18,510		520,501
Veritex Holdings, Inc.		13,050		238,293
Westamerica BanCorp.		4,380		194,034
WSFS Financial Corp.		10,230		384,750
				13,506,635
BEVERAGES - 0.2%
National Beverage Corp. (a)		4,440		234,077
BIOTECH & PHARMA - 3.6%
Amphastar Pharmaceuticals, Inc. (a)		6,470		242,625
Anika Therapeutics, Inc. (a)		4,520		129,814
Arcus Biosciences, Inc. (a)		10,060		183,494
Avid Bioservices, Inc. (a)		12,650		237,314
Catalyst Pharmaceutical, Inc. (a)		15,260		253,011
Certara, Inc. (a)		12,320		297,035
Coherus Biosciences, Inc. (a)		28,080		192,067
Collegium Pharmaceutical, Inc. (a)		4,650		111,553
Cytokinetics, Inc. (a)(b)		16,450		578,876
Dynavax Technologies Corp. (a)		20,100		197,181
Emergent BioSolutions, Inc. (a)		8,150		84,434
Enanta Pharmaceuticals, Inc. (a)		4,260		172,274
Harmony Biosciences Holdings, Inc. (a)(b)		4,600		150,190
Heska Corp. (a)(b)		1,950		190,359
Innoviva, Inc. (a)(b)		11,970		134,663
Ironwood Pharmaceuticals, Inc. (a)		10,090		106,147
Ligand Pharmaceuticals, Inc. (a)		2,760		203,026
Pacira BioSciences, Inc. (a)		6,110		249,349
Prestige Consumer Healthcare, Inc. (a)		6,630		415,237
REGENXBIO, Inc. (a)		5,650		106,842
Supernus Pharmaceuticals, Inc. (a)		7,570		274,261
uniQure N.V. (a)		10,260		206,636
Vanda Pharmaceuticals, Inc. (a)		25,990		176,472
Vir Biotechnology, Inc. (a)		10,170		236,656
Xencor, Inc. (a)		8,400		234,276
				5,363,792

Schedule of Portfolio Investments (Continued)

Praxis Small Cap Index Fund

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
CHEMICALS - 3.2%
AdvanSix, Inc.		10,540	$	403,366
Balchem Corp.		5,560		703,229
H.B. Fuller Co.		10,240		700,928
Innospec, Inc.		4,330		444,561
Materion Corp.		5,040		584,640
Minerals Technologies, Inc.		4,550		274,911
Quaker Chemical Corp.		1,500		296,925
Rayonier Advanced Materials, Inc. (a)		10,420		65,333
Rogers Corp. (a)		3,610		589,982
Stepan Co.		3,960		407,999
WD-40 Co.		1,810		322,271
				4,794,145
COMMERCIAL SUPPORT SERVICES - 3.0%
ABM Industries, Inc.		13,350		599,949
AMN Healthcare Services, Inc. (a)		9,180		761,573
Brady Corp. - Class A		19,000		1,020,870
CorVel Corp. (a)		2,390		454,769
Cross Country Healthcare, Inc. (a)		5,410		120,751
Harsco Corp. (a)		14,710		100,469
Healthcare Services Group, Inc.		12,090		167,688
Heidrick & Struggles International, Inc.		6,300		191,268
Kelly Services, Inc. - Class A		11,930		197,919
Korn Ferry		8,880		459,451
UniFirst Corp.		1,790		315,452
Viad Corp. (a)(b)		5,500		114,620
				4,504,779
CONSUMER SERVICES - 1.0%
Adtalem Global Education, Inc. (a)		12,630		487,771
Medifast, Inc.		1,780		184,533
Perdoceo Education Corp. (a)		16,740		224,818
Strategic Education, Inc. (b)		5,770		518,319
Stride, Inc. (a)(b)		2,770		108,722
				1,524,163
CONTAINERS & PACKAGING - 0.5%
Myers Industries, Inc.		10,120		216,871
O-I Glass, Inc. (a)		22,780		517,334
				734,205

Schedule of Portfolio Investments (Continued)

Praxis Small Cap Index Fund

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
ELECTRIC UTILITIES - 1.2%
Avista Corp. (b)		18,490	$	784,901
Otter Tail Corp.		1,520		109,850
Unitil Corp.		15,560		887,542
				1,782,293
ELECTRICAL EQUIPMENT - 2.9%
AAON, Inc.		11,030		1,066,491
Advanced Energy Industries, Inc. (b)		6,290		616,420
Alarm.com Holdings, Inc. (a)		7,330		368,552
Badger Meter, Inc.		6,300		767,466
FARO Technologies, Inc. (a)		5,290		130,187
Itron, Inc. (a)		3,600		199,620
Mesa Laboratories, Inc.		1,460		255,106
OSI Systems, Inc. (a)		2,550		261,018
SPX Technologies, Inc. (a)		9,870		696,625
				4,361,485
ENGINEERING & CONSTRUCTION - 2.2%
Arcosa, Inc.		7,940		501,093
Comfort Systems USA, Inc.		5,920		864,083
Dycom Industries, Inc. (a)		2,190		205,094
Frontdoor, Inc. (a)		14,390		401,193
Granite Construction, Inc. (b)		7,530		309,332
Installed Building Products, Inc.		3,410		388,842
MYR Group, Inc. (a)		2,470		311,245
NV5 Global, Inc. (a)		2,110		219,377
				3,200,259
ENTERTAINMENT CONTENT - 0.2%
AMC Networks, Inc. - Class A (a)		13,090		230,122
FOOD - 1.6%
Cal-Maine Foods, Inc. (b)		6,880		418,923
Hain Celestial Group, Inc. (The) (a)		6,490		111,304
Hostess Brands, Inc. (a)(b)		28,140		700,123
Simply Good Foods Co. (The) (a)		13,440		534,509
Tootsie Roll Industries, Inc.		3,329		149,519
TreeHouse Foods, Inc. (a)		9,670		487,658
				2,402,036
FORESTRY, PAPER & WOOD PRODUCTS - 0.4%
Boise Cascade Co.		7,010		443,382

Schedule of Portfolio Investments (Continued)

Praxis Small Cap Index Fund

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
FORESTRY, PAPER & WOOD PRODUCTS - 0.4% (Continued)
Sylvamo Corp.		3,510	$	162,373
				605,755
GAS & WATER UTILITIES - 1.9%
American States Water Co.		8,490		754,676
California Water Service Group		16,470		958,554
Middlesex Water Co.		6,040		471,845
SJW Group (b)		8,190		623,505
				2,808,580
HEALTH CARE FACILITIES & SERVICES - 2.4%
AdaptHealth Corp. (a)		11,070		137,600
Addus HomeCare Corp. (a)		2,750		293,590
Agiliti, Inc. (a)		14,000		223,720
Enhabit, Inc. (a)		8,590		119,487
Ensign Group, Inc. (The) (b)		8,010		765,276
Fulgent Genetics, Inc. (a)		5,970		186,383
ModivCare, Inc. (a)		2,130		179,090
NeoGenomics, Inc. (a)		17,840		310,594
Owens & Minor, Inc. (a)		12,410		180,566
Pediatrix Medical Group, Inc. (a)		14,540		216,791
RadNet, Inc. (a)		11,320		283,340
Select Medical Holdings Corp.		16,840		435,314
U.S. Physical Therapy, Inc.		2,080		203,653
				3,535,404
HOME & OFFICE PRODUCTS - 0.3%
HNI Corp.		4,010		111,638
iRobot Corp. (a)		3,560		155,358
MillerKnoll, Inc.		10,390		212,476
				479,472
HOME CONSTRUCTION - 2.6%
Cavco Industries, Inc. (a)		1,950		619,593
Century Communities, Inc.		2,300		147,016
Green Brick Partners, Inc. (a)		5,000		175,300
Interface, Inc.		24,150		196,098
LGI Homes, Inc. (a)(b)		3,980		453,839
M/I Homes, Inc. (a)		3,510		221,446
Masterbrand Inc. (a)		15,020		120,761
MDC Holdings, Inc.		10,555		410,273

Schedule of Portfolio Investments (Continued)

Praxis Small Cap Index Fund     

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
HOME CONSTRUCTION - 2.6% (Continued)
Meritage Homes Corp.		6,110	$	713,404
Patrick Industries, Inc.		2,420		166,520
PGT Innovations, Inc. (a)		9,950		249,844
TRI Pointe Homes, Inc. (a)		14,490		366,887
				3,840,981
HOUSEHOLD PRODUCTS - 1.3%
e.l.f. Beauty, Inc. (a)		10,960		902,556
Edgewell Personal Care Co.		5,910		250,702
Inter Parfums, Inc.		2,400		341,376
Nu Skin Enterprises, Inc. - Class A		2,820		110,854
Quanex Building Products Corp.		11,930		256,853
				1,862,341
INDUSTRIAL INTERMEDIATE PRODUCTS - 1.4%
AZZ, Inc.		4,910		202,488
EnPro Industries, Inc.		3,620		376,082
Gibraltar Industries, Inc. (a)		5,860		284,210
Insteel Industries, Inc.		3,950		109,889
Mueller Industries, Inc. (b)		8,500		624,580
Proto Labs, Inc. (a)		4,540		150,501
Standex International Corp.		2,030		248,553
				1,996,303
INDUSTRIAL SUPPORT SERVICES - 1.1%
Applied Industrial Technologies, Inc.		7,530		1,070,239
DXP Enterprises, Inc. (a)		5,460		146,983
Resideo Technologies, Inc. (a)		24,870		454,624
				1,671,846
INSTITUTIONAL FINANCIAL SERVICES - 0.5%
Piper Sandler Cos.		3,730		517,016
StoneX Group, Inc. (a)		2,410		249,507
				766,523
INSURANCE - 2.5%
Ambac Financial Group, Inc. (a)		10,910		168,887
American Equity Investment Life Holding Co. (b)		12,720		464,153
AMERISAFE, Inc.		3,560		174,262
Assured Guaranty Ltd.		10,110		508,230
Employers Holdings, Inc.		3,240		135,076
Genworth Financial, Inc. - Class A (a)		116,460		584,629
Horace Mann Educators Corp.		5,960		199,541

Schedule of Portfolio Investments (Continued)

Praxis Small Cap Index Fund     

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
INSURANCE - 2.5% (Continued)
James River Group Holdings Ltd.		5,500	$	113,575
NMI Holdings, Inc. - Class A (a)		14,340		320,212
Palomar Holdings, Inc. (a)		3,850		212,520
ProAssurance Corp.		6,230		115,130
Radian Group, Inc.		10,070		222,547
Safety Insurance Group, Inc.		2,760		205,675
Trupanion, Inc. (a)(b)		6,280		269,349
				3,693,786
INTERNET MEDIA & SERVICES - 0.7%
Cars.com, Inc. (a)		16,270		314,011
Shutterstock, Inc.		3,610		262,086
TechTarget, Inc. (a)		4,120		148,814
Yelp, Inc. (a)		11,460		351,822
				1,076,733
LEISURE FACILITIES & SERVICES - 2.5%
Bloomin' Brands, Inc. (b)		18,470		473,755
Brinker International, Inc. (a)		7,800		296,400
Cheesecake Factory, Inc. (The)		7,530		263,927
Chuy's Holdings, Inc. (a)		6,950		249,158
Cinemark Holdings, Inc. (a)		24,860		367,679
Cracker Barrel Old Country Store, Inc. (b)		1,880		213,568
Dave & Buster's Entertainment, Inc. (a)		9,190		338,100
Dine Brands Global, Inc.		3,280		221,859
El Pollo Loco Holdings, Inc.		21,940		210,405
Jack in the Box, Inc.		4,400		385,396
Shake Shack, Inc. - Class A (a)		5,180		287,438
Six Flags Entertainment Corp. (a)		15,340		409,731
				3,717,416
LEISURE PRODUCTS - 0.5%
LCI Industries (b)		4,750		521,883
Winnebago Industries, Inc. (b)		3,720		214,644
				736,527
MACHINERY - 3.3%
Alamo Group, Inc.		1,800		331,488
Astec Industries, Inc.		4,830		199,237
CIRCOR International, Inc. (a)		9,130		284,126
Enerpac Tool Group Corp.		19,940		508,470
ESCO Technologies, Inc.		2,890		275,851

Schedule of Portfolio Investments (Continued)

Praxis Small Cap Index Fund  

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
MACHINERY - 3.3% (Continued)
Federal Signal Corp.		4,750	$	257,498
Franklin Electric Co., Inc.		6,300		592,830
Hillenbrand, Inc.		7,280		346,018
Ichor Holdings Ltd. (a)		8,140		266,504
John Bean Technologies Corp.		5,325		581,969
Lindsay Corp.		3,140		474,548
Stellar Bancorp, Inc.		8,879		218,512
Tennant Co.		2,040		139,801
Titan International, Inc. (a)		33,750		353,700
				4,830,552
MEDICAL EQUIPMENT & DEVICES - 2.8%
AngioDynamics, Inc. (a)		10,480		108,363
Avanos Medical, Inc. (a)		8,170		242,976
BioLife Solutions, Inc. (a)		7,490		162,908
CONMED Corp.		3,920		407,131
Cutera, Inc. (a)		4,980		117,628
Embecta Corp. (b)		9,350		262,922
Glaukos Corp. (a)		7,100		355,710
Integer Holdings Corp. (a)		4,160		322,400
LeMaitre Vascular, Inc.		5,530		284,629
Merit Medical Systems, Inc. (a)		10,140		749,853
Myriad Genetics, Inc. (a)		13,280		308,494
NuVasive, Inc. (a)		5,380		222,248
OraSure Technologies, Inc. (a)		28,300		171,215
Varex Imaging Corp. (a)		8,210		149,340
Vericel Corp. (a)		8,820		258,602
				4,124,419
METALS & MINING - 1.6%
Arconic Corp. (a)		13,470		353,318
Century Aluminum Co. (a)		11,200		112,000
Encore Wire Corp. (b)		3,620		670,895
Haynes International, Inc.		4,750		237,927
Kaiser Aluminum Corp.		2,420		180,605
Livent Corp. (a)(b)		25,290		549,299
SunCoke Energy, Inc.		30,440		273,351
				2,377,395
OIL & GAS SERVICES & EQUIPMENT - 2.4%
Bristow Group, Inc. (a)		46,472		1,040,973

Schedule of Portfolio Investments (Continued)

Praxis Small Cap Index Fund     

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
OIL & GAS SERVICES & EQUIPMENT - 2.4% (Continued)
Core Laboratories N.V.		51,860	$	1,143,513
DMC Global, Inc. (a)		9,750		214,207
Helmerich & Payne, Inc.		26,550		949,163
U.S. Silica Holdings, Inc. (a)		17,890		213,607
				3,561,463
PUBLISHING & BROADCASTING - 0.2%
E.W. Scripps Co. (The) - Class A (a)		21,100		198,551
Scholastic Corp.		4,200		143,724
				342,275
REAL ESTATE OWNERS & DEVELOPERS - 0.1%
St. Joe Co. (The)		5,140		213,875
REAL ESTATE SERVICES - 0.5%
Anywhere Real Estate, Inc. (a)		32,310		170,597
Cushman & Wakefield plc (a)(b)		17,860		188,244
Marcus & Millichap, Inc.		6,930		222,522
RE/MAX Holdings, Inc. - Class A		8,460		158,710
				740,073
REITS - 6.5%
Acadia Realty Trust (b)		17,540		244,683
Alexander & Baldwin, Inc.		13,480		254,907
American Assets Trust, Inc.		6,220		115,630
Armada Hoffler Properties, Inc.		12,440		146,916
Brandywine Realty Trust		55,840		264,123
CareTrust REIT, Inc.		12,440		243,575
Centerspace		3,050		166,621
Chatham Lodging Trust		14,320		150,217
Community Healthcare Trust, Inc.		4,290		157,014
DiamondRock Hospitality Co.		28,340		230,404
Easterly Government Properties, Inc.		9,670		132,866
Elme Communities		8,830		157,704
Essential Properties Realty Trust, Inc.		18,920		470,162
Four Corners Property Trust, Inc. (b)		8,630		231,802
Franklin BSP Realty Trust, Inc. (b)		21,422		255,564
Getty Realty Corp. (b)		8,140		293,284
Global Net Lease, Inc.		16,580		213,219
Hudson Pacific Properties, Inc.		47,960		318,934

Schedule of Portfolio Investments (Continued)

Praxis Small Cap Index Fund     

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
REITS - 6.5% (Continued)
Innovative Industrial Properties, Inc. (b)		4,430	$	336,636
iStar, Inc. (b)		9,118		267,802
LTC Properties, Inc.		7,200		252,936
LXP Industrial Trust		32,120		331,157
NexPoint Residential Trust, Inc.		3,250		141,927
Office Properties Income Trust		16,590		204,057
Orion Office REIT, Inc.		26,100		174,870
Outfront Media, Inc.		24,990		405,588
Pebblebrook Hotel Trust		16,060		225,482
Retail Opportunity Investments Corp.		23,490		327,920
RPT Realty		19,470		185,160
Saul Centers, Inc.		3,420		133,380
Service Properties Trust		28,860		287,446
SITE Centers Corp.		25,140		308,719
SL Green Realty Corp.		13,140		309,053
Summit Hotel Properties, Inc.		23,710		165,970
Sunstone Hotel Investors, Inc. (b)		32,670		322,780
Tanger Factory Outlet Centers, Inc.		16,810		329,980
Uniti Group, Inc.		35,680		126,664
Universal Health Realty Income Trust		2,270		109,210
Urban Edge Properties		13,970		210,388
Veris Residential, Inc. (a)		13,500		197,640
Xenia Hotel & Resorts, Inc.		18,240		238,762
				9,641,152
RENEWABLE ENERGY - 0.1%
Green Plains, Inc. (a)		7,060		218,789
RETAIL - CONSUMER STAPLES - 0.6%
Big Lots, Inc.		10,100		110,696
SpartanNash Co.		29,040		720,192
				830,888
RETAIL - DISCRETIONARY - 5.7%
Abercrombie & Fitch Co. - Class A (a)		13,550		376,012
Academy Sports & Outdoors, Inc.		16,030		1,045,957
American Eagle Outfitters, Inc.		22,590		303,610
America's Car-Mart, Inc. (a)		1,540		121,983
Asbury Automotive Group, Inc. (a)(b)		3,100		651,000
Boot Barn Holdings, Inc. (a)		4,560		349,478

Schedule of Portfolio Investments (Continued)

Praxis Small Cap Index Fund     

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
RETAIL - DISCRETIONARY - 5.7% (Continued)
Buckle, Inc. (The)		5,380	$	192,012
Caleres, Inc.		10,210		220,842
Chico's FAS, Inc. (a)		40,780		224,290
Children's Place, Inc. (The) (a)		4,250		171,062
Ethan Allen Interiors, Inc.		12,700		348,742
Genesco, Inc. (a)		3,300		121,704
GMS, Inc. (a)		7,050		408,125
Group 1 Automotive, Inc. (b)		3,050		690,581
Guess?, Inc.		9,260		180,200
Hibbett, Inc.		5,140		303,157
La-Z-Boy, Inc.		6,970		202,688
Leslie's, Inc. (a)		23,260		256,093
MarineMax, Inc. (a)		4,440		127,650
Mister Car Wash, Inc. (a)		23,690		204,208
Monro, Inc.		2,660		131,484
ODP Corp. (The) (a)		7,677		345,311
Sally Beauty Holdings, Inc. (a)		15,060		234,635
Shoe Carnival, Inc.		4,710		120,812
Signet Jewelers Ltd.		7,200		560,016
Sleep Number Corp. (a)		5,410		164,518
Urban Outfitters, Inc. (a)		10,750		297,990
				8,354,160
SEMICONDUCTORS - 4.6%
Axcelis Technologies, Inc. (a)		12,690		1,690,942
CEVA, Inc. (a)		4,550		138,456
Cohu, Inc. (a)		7,270		279,095
CTS Corp. (b)		6,010		297,255
Diodes, Inc. (a)		6,230		577,895
FormFactor, Inc. (a)		11,450		364,683
Kulicke & Soffa Industries, Inc. (b)		9,850		518,997
MaxLinear, Inc. (a)		8,610		303,158
Onto Innovation, Inc. (a)		12,047		1,058,690
Photronics, Inc. (a)		16,690		276,720
Rambus, Inc. (a)(b)		18,385		942,415
Semtech Corp. (a)		3,970		95,836
Ultra Clean Holdings, Inc. (a)		3,800		126,008
Veeco Instruments, Inc. (a)		8,620		182,141
				6,852,291

Schedule of Portfolio Investments (Continued)

Praxis Small Cap Index Fund     

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
SOFTWARE - 3.6%
Adeia, Inc.		14,711	$	130,339
Agilysys, Inc. (a)		6,190		510,737
Apollo Medical Holdings, Inc. (a)		6,870		250,549
Avid Technology, Inc. (a)		4,340		138,793
Cerence, Inc. (a)		6,920		194,383
Digi International, Inc. (a)		11,930		401,802
Digital Turbine, Inc. (a)		16,200		200,232
Donnelley Financial Solutions, Inc. (a)		6,550		267,633
DoubleVerify Holdings, Inc. (a)		8,830		266,224
Ebix, Inc.		7,800		102,882
NextGen Healthcare, Inc. (a)		6,350		110,553
PDF Solutions, Inc. (a)		9,190		389,656
Progress Software Corp. (b)		6,410		368,255
Simulations Plus, Inc.		4,350		191,139
SPS Commerce, Inc. (a)		5,620		855,926
Thryv Holdings, Inc. (a)		9,180		211,691
Veradigm, Inc. (a)(b)		23,320		304,326
Verra Mobility Corp. (a)(b)		12,330		208,624
Xperi, Inc. (a)		14,004		153,064
				5,256,808
SPECIALTY FINANCE - 2.6%
Apollo Commercial Real Estate Finance, Inc.		20,490		190,762
ARMOUR Residential REIT, Inc. (b)		33,710		176,977
Bread Financial Holdings, Inc.		8,810		267,119
Deluxe Corp.		12,780		204,480
Ellington Financial, Inc.		15,050		183,760
Encore Capital Group, Inc. (a)(b)		3,150		158,917
Enova International, Inc. (a)		7,260		322,562
Invesco Mortgage Capital, Inc.		1,166		12,931
KKR Real Estate Finance Trust, Inc.		13,750		156,613
LendingTree, Inc. (a)		8,130		216,746
Mr. Cooper Group, Inc. (a)		12,710		520,729
New York Mortgage Trust, Inc.		11,162		111,174
PennyMac Mortgage Investment Trust		14,450		178,169
PRA Group, Inc. (a)(b)		6,530		254,409
Ready Capital Corp.		19,700		200,349
Redwood Trust, Inc.		19,810		133,519
Two Harbors Investment Corp.		10,280		151,219

Schedule of Portfolio Investments (Continued)

Praxis Small Cap Index Fund

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
SPECIALTY FINANCE - 2.6% (Continued)
Walker & Dunlop, Inc.		4,340	$	330,578
World Acceptance Corp. (a)		1,310		109,110
				3,880,123
STEEL - 1.0%
ATI, Inc. (a)(b)		21,650		854,309
Carpenter Technology Corp.		6,590		294,969
TimkenSteel Corp. (a)		17,280		316,915
				1,466,193
TECHNOLOGY HARDWARE - 4.5%
3D Systems Corp. (a)		16,470		176,559
ADTRAN, Inc.		14,390		228,225
Arlo Technologies, Inc. (a)		33,990		205,979
Benchmark Electronics, Inc.		8,080		191,415
Clearfield, Inc. (a)		3,590		167,222
Comtech Telecommunications Corp.		9,290		115,939
Corsair Gaming, Inc. (a)		10,890		199,832
Extreme Networks, Inc. (a)		29,990		573,409
Fabrinet (a)		7,180		852,697
Harmonic, Inc. (a)		29,630		432,302
InterDigital, Inc.		6,470		471,663
Knowles Corp. (a)		18,120		308,040
NetScout Systems, Inc. (a)		7,500		214,875
Pitney Bowes, Inc.		38,260		148,831
Plexus Corp. (a)		4,900		478,093
Sanmina Corp. (a)(b)		13,090		798,359
Sonos, Inc. (a)(b)		18,690		366,698
TTM Technologies, Inc. (a)		28,760		387,972
Viavi Solutions, Inc. (a)		24,360		263,819
				6,581,929
TECHNOLOGY SERVICES - 2.2%
CSG Systems International, Inc.		5,650		303,405
EVERTEC, Inc.		10,810		364,837
Green Dot Corp. - Class A (a)		12,060		207,191
Insight Enterprises, Inc. (a)		8,860		1,266,626
LiveRamp Holdings, Inc. (a)		6,030		132,238
Payoneer Global, Inc. (a)		34,870		218,635
Perficient, Inc. (a)		4,700		339,293
Sabre Corp. (a)(b)		54,990		235,907

Schedule of Portfolio Investments (Continued)

Praxis Small Cap Index Fund                

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
TECHNOLOGY SERVICES - 2.2% (Continued)
TTEC Holdings, Inc.		3,630	$	135,145
				3,203,277
TELECOMMUNICATIONS - 0.7%
ATN International, Inc.		2,850		116,622
Cogent Communications Holdings, Inc. (b)		5,100		324,972
Consolidated Communications Holdings, Inc. (a)		14,850		38,313
Gogo, Inc. (a)		12,910		187,195
Lumen Technologies, Inc. (b)		42,220		111,883
Telephone and Data Systems, Inc.		17,960		188,760
				967,745
TRANSPORTATION & LOGISTICS - 2.6%
Allegiant Travel Co. (a)		3,490		321,010
ArcBest Corp. (b)		6,890		636,774
Forward Air Corp.		4,570		492,463
Hawaiian Holdings, Inc. (a)		17,650		161,674
Hub Group, Inc. - Class A (a)		9,370		786,518
Marten Transport Ltd.		18,180		380,871
Matson, Inc.		6,440		384,275
RXO, Inc. (a)		13,880		272,603
SkyWest, Inc. (a)		13,750		304,837
Sun Country Airlines Holdings, Inc. (a)		7,000		143,360
				3,884,385
TRANSPORTATION EQUIPMENT - 0.5%
Greenbrier Cos., Inc. (The)		6,020		193,663
Trinity Industries, Inc.		8,880		216,317
Wabash National Corp.		15,190		373,522
				783,502
WHOLESALE - CONSUMER STAPLES - 1.2%
Andersons, Inc. (The)		27,150		1,121,838
Chefs' Warehouse, Inc. (The) (a)		5,800		197,490
United Natural Foods, Inc. (a)		14,890		392,352
				1,711,680
WHOLESALE - DISCRETIONARY - 1.2%
ePlus, Inc. (a)		4,560		223,622
G-III Apparel Group Ltd. (a)		9,060		140,883
KAR Auction Services, Inc. (a)		12,030		164,570
ScanSource, Inc. (a)		23,700		721,428

Schedule of Portfolio Investments (Continued)

Praxis Small Cap Index Fund      

COMMON STOCKS - 98.6% (Continued)	Shares		Fair Value
WHOLESALE - DISCRETIONARY - 1.2% (Continued)
Veritiv Corp. (b)		3,640	$	491,910
				1,742,413
TOTAL COMMON STOCKS (COST $116,310,775)			$	145,778,009

RIGHTS - 0.0% (c)	Shares		Fair Value
MEDICAL EQUIPMENT & DEVISES - 0.0%
Lantheus Holdings, Inc., CVR (a)(d)(e)	28,980	$	2,608
OmniAb, Inc. (a)(d)(e)	2,092		1,032
TOTAL RIGHTS (COST $0)		$	3,640

CORPORATE NOTES - 0.9%	Coupon			Maturity	Principal Amount		Fair Value
COMMUNITY DEVELOPMENT - 0.9%
Calvert Social Investment Foundation, Inc. (d)		3.000	%	06/15/23	$	330,000	$	327,745
Calvert Social Investment Foundation, Inc. (d)		3.000	%	12/15/23		330,000		323,267
Calvert Social Investment Foundation, Inc. (d)		1.000	%	06/14/24		100,000		94,577
Calvert Social Investment Foundation, Inc. (d)		3.000	%	06/17/24		60,000		58,084
Calvert Social Investment Foundation, Inc. (d)		3.000	%	12/15/24		90,000		86,106
Calvert Social Investment Foundation, Inc. (d)		2.500	%	06/13/25		150,000		140,496
Calvert Social Investment Foundation, Inc. (d)		2.500	%	12/15/25		280,000		259,268
TOTAL CORPORATE NOTES (COST $1,340,000)							$	1,289,543

Schedule of Portfolio Investments (Continued)

Praxis Small Cap Index Fund

MONEY MARKET FUNDS - 0.4%	Shares		Fair Value
First American Government Obligations Fund - Class X, 4.65% (f) (COST $606,634)		606,634	$	606,634

INVESTMENT PURCHASED WITH THE CASH PROCEEDS FROM SECURITIES LENDING - 12.7%	Shares		Fair Value
Mount Vernon Liquid Assets Portfolio, LLC, 4.93% (f)(g) (COST $18,775,780)		18,775,780	$	18,775,780
TOTAL INVESTMENTS - (COST $137,033,189) - 112.6%			$	166,453,606
LIABILITIES IN EXCESS OF OTHER ASSETS - (12.6%)				(18,597,754	)
NET ASSETS - 100.0%			$	147,855,852

(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, 2023 was $18,672,128.
(c)	Percentage rounds to less than 0.1%.
(d)	Illiquid securitites are as follows:

	Acquisition	Current		Fair		% of Net
	Date	Cost		Value		Assets
Calvert Social Investment Foundation, Inc.  3.000%, 06/15/23	06/18/18		330,000		327,745		0.2	%
Calvert Social Investment Foundation, Inc.  3.000%, 12/15/23	12/17/18		330,000		323,267		0.2	%
Calvert Social Investment Foundation, Inc.  1.000%, 06/14/24	06/15/21		100,000		94,577		0.1	%
Calvert Social Investment Foundation, Inc.  3.000%, 06/17/24	06/17/19		60,000		58,084		0.0	%
Calvert Social Investment Foundation, Inc.  3.000%, 12/15/24	12/12/19		90,000		86,106		0.1	%
Calvert Social Investment Foundation, Inc.  2.500%, 06/13/25	06/12/20		150,000		140,496		0.1	%
Calvert Social Investment Foundation, Inc.  2.500%, 12/15/25	12/15/20		280,000		259,268		0.2	%
Lantheus Holdings, Inc., CVR	06/22/20		-		2,608		0.0	%(c)
OmniAb, Inc.	11/02/22		-		1,032		0.0	%(c)
		$	1,340,000	$	1,293,183		0.9	%

(e)	Security value has been determined in good faith pursuant to procedures adopted by the Board of Trustees. The total value of such securities was $3,640 as of March 31, 2023, representing 0.0% (c) of net assets.
(f)	The rate shown is the 7-day effective yield as of March 31, 2023.
(g)	The security was purchased with cash collateral received from securities on loan.

CVR - Contingent Value Right

plc - Public Liability Company

REIT - Real Estate Investment Trust

Schedule of Portfolio Investments

Praxis Genesis Conservative Portfolio

March 31, 2023 (Unaudited)

AFFILIATED MUTUAL FUNDS - 100.0%	Shares		Fair Value
DEBT FUND - 69.2%
Praxis Impact Bond Fund - Class I		1,834,598	$	17,171,842
EQUITY FUND - 30.8%
Praxis Growth Index Fund - Class I		75,225		2,429,017
Praxis International Index Fund - Class I		193,287		2,286,586
Praxis Small Cap Index Fund - Class I		61,527		612,189
Praxis Value Index Fund - Class I		146,721		2,319,663
				7,647,455
TOTAL AFFILIATED MUTUAL FUNDS (COST $23,128,155)			$	24,819,297

MONEY MARKET FUNDS - 0.0% (a)	Shares		Fair Value
First American Government Obligations Fund - Class X, 4.65% (b) (COST $6,224)		6,224	$	6,224
TOTAL INVESTMENTS - (COST $23,134,379) - 100.0%			$	24,825,521
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.0%) (a)				(7,986	)
NET ASSETS - 100.0%			$	24,817,535

(a)	Percentage rounds to less than 0.1%.
(b)	The rate shown is the 7-day effective yield as of March 31, 2023.

Schedule of Portfolio Investments

Praxis Genesis Balanced Portfolio

March 31, 2023 (Unaudited)

AFFILIATED MUTUAL FUNDS - 100.0%	Shares		Fair Value
DEBT FUND - 39.2%
Praxis Impact Bond Fund - Class I		3,513,604	$	32,887,331
EQUITY FUND - 60.8%
Praxis Growth Index Fund - Class I		436,825		14,105,087
Praxis International Index Fund - Class I		1,288,366		15,241,369
Praxis Small Cap Index Fund - Class I		824,022		8,199,022
Praxis Value Index Fund - Class I		852,029		13,470,583
				51,016,061
TOTAL AFFILIATED MUTUAL FUNDS (COST $67,647,173)			$	83,903,392

MONEY MARKET FUNDS - 0.0% (a)	Shares		Fair Value
First American Government Obligations Fund - Class X, 4.65% (b) (COST $1,276)		1,276	$	1,276
TOTAL INVESTMENTS - (COST $67,648,449) - 100.0%			$	83,904,668
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.0%) (a)				(9,734	)
NET ASSETS - 100.0%			$	83,894,934

(a)	Percentage rounds to less than 0.1%.
(b)	The rate shown is the 7-day effective yield as of March 31, 2023.

Schedule of Portfolio Investments

Praxis Genesis Growth Portfolio

March 31, 2023 (Unaudited)

AFFILIATED MUTUAL FUNDS - 100.1%	Shares		Fair Value
DEBT FUND - 19.5%
Praxis Impact Bond Fund - Class I		1,921,684	$	17,986,960
EQUITY FUND - 80.6%
Praxis Growth Index Fund - Class I		611,709		19,752,091
Praxis International Index Fund - Class I		1,883,581		22,282,762
Praxis Small Cap Index Fund - Class I		1,352,816		13,460,524
Praxis Value Index Fund - Class I		1,193,325		18,866,473
				74,361,850
TOTAL AFFILIATED MUTUAL FUNDS (COST $70,036,719)			$	92,348,810

MONEY MARKET FUNDS - 0.0% (a)	Shares		Fair Value
First American Government Obligations Fund - Class X, 4.65% (b) (COST $911)		911	$	911
TOTAL INVESTMENTS - (COST $70,037,630) - 100.1%			$	92,349,721
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1%)				(52,606	)
NET ASSETS - 100.0%			$	92,297,115

(a)	Percentage rounds to less than 0.1%.
(b)	The rate shown is the 7-day effective yield as of March 31, 2023.