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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:

TerraForm Power, Inc.

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

  • 61% of the company’s generation capacity is utility-scale solar
  • 39% of the company’s generation capacity is utility-scale wind
  • Total renewable energy generation capacity is more than 2,600 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 (RPS) mandates.

NextEra Energy Operating Partners, LP

NextEra Energy Operating Partners, a division of NextEra Energy Resources, acquires, manages and owns contracted clean energy projects.

  • The company is the world’s largest generator of renewable energy from the wind and sun.
  • The company operates more than 16,000 megawatts of wind and solar generation in North America.
Standard Industries Inc.

Standard Industries manufactures sustainable and innovative roofing solutions.

  • The company manufactures DecoTech solar roofing, which is used in residential and commercial applications.

 

Pax High Yield Bond Fund Top Ten Holdings
(As of 12/31/2018)
 Portfolio %
Manitowoc Company, Inc., 12.750%, 8/15/21 0.90
Scientific Games International, Inc., 10.000%, 12/1/22 0.90
Fly Leasing, Ltd., 6.375%, 10/15/21 0.80
Ally Financial, Inc. 4.250%, 4/15/21 0.80
Lamb Weston Holdings, Inc., 144A, 4.625%, 11/1/24 0.80
United Rentals North America, Inc. 5.750%, 11/15/24 0.80
Hca, Inc., 5.875%, 5/1/23 0.80
Air Canada, 7.750%, 04/15/21 0.80
Ally Financial, Inc. 3.500%, 1/27/19 0.70
Sprint Corp., 7.250%, 9/15/21 0.70

Holdings are subject to change.