Print Friendly, PDF & Email

Pax High Yield Bond Fund Company Examples

At Pax World, we fully integrate environmental, social and governance (ESG) factors into investment analysis and portfolio construction. Here are a few Pax High Yield Bond Fund fixed-income securities that we believe are promoting positive community or environmental outcomes:

Atlantica Yield PLC

Atlantica Yield PLC owns and operates primarily renewable and conventional power assets as well as transmission lines in North and South America, Europe, the Middle East and Africa. The company sees renewable sources as the highest growth trend in the power generation sector and contracts with governments and utilities which are focused on solving energy scarcity concerns in addition to reducing carbon emissions. Approximately 70% of the company’s revenues are derived from renewable energy sources, with solar contributing the majority.

Meritage Homes Corp.

Meritage Homes has several green building initiatives in place and, for the fourth consecutive year, earned the EPA’s highest ENERGY STAR award, “Partner of the Year – Sustained Excellence.” The company reports that it was the first national builder to make every home built 100% ENERGY STAR certified. Meritage reports that its homes on average, are twice as energy-efficient as a typical U.S. home of the same size.

Tesla, Inc.

Tesla Inc.’s stated mission is to accelerate the world’s transition to sustainable energy by designing and manufacturing fully electric vehicles and residential and commercial solar power applications, including energy storage systems.

Ormat Technologies

Ormat Technologies is a leading geothermal power producer and equipment maker. Ormat owns and operates geothermal plants located in Nevada, California, Hawaii and Guatemala. The company also sells geothermal generators and energy recovery systems to consumers and other geothermal operators. The company has innovative and proprietary technology that has reduced the amount of water used in geothermal power generation allowing geothermal energy to be harvested in more numerous regions.

Pax High Yield Bond Fund Top Ten Holdings
(As of 11/30/2017)
 Portfolio %
HCA, Inc., 5.875%, 2/15/26 1.30
Mednax, Inc., 5.250%, 12/1/23 0.80
Sally Holdings LLC, 5.625%, 12/1/25 0.80
Charlotte Russe, Inc., 6.750%, 05/21/19 0.80
Ion Geophysical Corp., 9.125%, 12/15/21 0.80
Ard Finance SA, 7.125%, 9/15/23 0.80
Sirius XM Radio, Inc., 5.375%, 4/15/25 0.80
Fly Leasing, Ltd., 6.375%, 10/15/21 0.80
Sprint Communications, Inc., 7.000%, 8/15/20 0.80
First Data Corp., 5.000%, 1/15/24 0.70

Holdings are subject to change.