Quest Diagnostics (DGX)

Quest Diagnostics Incorporated provides diagnostic testing, information and services. The company operates a national network of full-service laboratories, rapid response laboratories and patient service centers. Quest Diagnostics offers esoteric, routine medical, drugs of abuse and non-hospital-based anatomic pathology testing services.

  • Quest Diagnostics’ diagnostic testing can help patients with healthcare issues, and the company has emerged as a key provider amid the current surge in COVID-19 testing, with 20% share of the market. The company also is active in the serology testing market, which should experience continued demand once a COVID-19 vaccine is developed.
  • The company is well positioned on human capital, with robust employee development programs and benefits and strong diversity in leadership. Women comprise 40% of the company’s board of directors and 30% of its executive management team.
  • The company regularly reviews pay equity, and its analyses have uncovered no statistically significant compensation disparities based on gender, race or ethnicity. Quest is a founding member of the Healthcare Businesswomen Association’s Gender Parity Collaborative, a group of healthcare and life sciences companies dedicated to developing and committing to action steps to promote women in the workplace and to accelerating gender compensation parity.

Microsoft Corp (MSFT)

Microsoft Corporation develops, manufactures, licenses, sells and supports software products. The company offers operating system software, server application software, business and consumer applications software, software development tools and internet and intranet software.

  • Microsoft is well-positioned to benefit from increased demand for energy efficient IT infrastructure and services. The company is one of the largest cloud service providers globally. For customers with their own network operations, the company offers systems management software and virtualization technologies that can help improve the energy efficiency of onsite IT infrastructures and services.
  • Regarding its own environmental footprint, Microsoft has been carbon neutral since 2012 and recently pledged to become carbon negative by 2030. By 2025, the company will shift to 100 percent supply of renewable energy, and by 2030 it will reduce its Scope 3 emissions by more than half through several new initiatives.
  • The company provides extensive disclosure around its diversity and inclusion programs, employee demographics and pay equity. From the general manager level on up, Microsoft holds all leaders accountable by tying components of their compensation to their performance on diversity and inclusion.

United Parcel Service (UPS)

UPS delivers packages and documents throughout the United States and in other countries and territories.

  • UPS provides transportation and logistics solutions that help facilitate global trade and is driving the digitization of commerce.
  • Initiatives to reduce the company’s environmental footprint include advanced route optimization technology, centralized pickup and drop-off locations, and the use of alternative fuel vehicles in its delivery network. These measures are underpinned by several 2025 targets, including increasing renewable energy use to 25% and alternative fuel use to 40% and a 12% reduction in absolute greenhouse gas emissions.
  • UPS has strong diversity in leadership, led by CEO Carol B. Tomé. Overall, women comprise 40% of the company’s board of directors and 36% of the executive management team. The company recently announced Charlene Thomas will assume the role of Chief Diversity, Equity and Inclusion Officer, which is a new position on the executive management team intended to help further the company’s diversity and inclusion programs and initiatives.

Pax Large Cap Fund Top 10 Holdings

(As of 03/31/2021)
Holdings are subject to change.

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