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Pax High Yield Bond Fund Company Examples

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

TerraForm Power, Inc.

TerraForm Power is a pure-play owner and operator of clean power generation assets.

  • 63 percent of the company’s generation capacity is utility-scale wind
  • 37 percent of the company’s generation capacity is utility-scale solar
  • Total renewable energy generation capacity is more than 3,600 megawatts

The company plans to grow by acquiring, owning and operating solar and wind assets and will play a direct role in meeting the objectives of the Paris Climate Agreement and state-level renewable portfolio standard mandates.

Hannon Armstrong Sustainable Infrastructure Capital, Inc.

Hannon Armstrong provides debt and equity financing to the energy efficiency and renewable energy markets.

  • The company is the first U.S. public company solely dedicated to investments that reduce carbon emissions or increase resilience to climate change by focusing on ‘behind-the-meter’ energy reduction projects, grid connected renewable energy and sustainable infrastructure projects, like stormwater remediation.

 

Pax High Yield Bond Fund Top 10 Holdings
(As of 08/31/2019)
 Portfolio %
Altice France Sa, 7.375%, 5/1/26 0.90
Fly Leasing, Ltd., 6.375%, 10/15/21 0.90
Air Canada, 7.750%, 04/15/21 0.80
Cco Holdings LLC, 5.375%, 6/1/29 0.70
Prestige Brands, Inc., 6.375%, 3/1/24 0.70
Parkland Fuel Corp., 6.000%, 4/1/26 0.70
Tempur Sealy International, Inc., 5.500%, 6/15/26 0.70
New Red Finance, Inc., 5.000%, 10/15/25 0.70
Williams Scotsman International, Inc., 6.875%, 8/15/23 0.70
Kar Auction Services, Inc., 5.125%, 6/1/25 0.70

Holdings are subject to change.
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