| PEAR TREE POLARIS SMALL CAP FUND |
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
Common Stock -100.4%
| Shares | Value | |||||||
| CONSUMER DISCRETIONARY -10.5% | ||||||||
| AUTOMOBILES - 1.2% | ||||||||
| Winnebago Industries, Inc. | 36,467 | $ | 1,057,543 | |||||
| DIVERSIFIED CONSUMER SERVICES - 4.3% | ||||||||
| Laureate Education, Inc. (a) | 81,300 | 1,900,794 | ||||||
| Perdoceo Education Corporation | 60,600 | 1,981,014 | ||||||
| 3,881,808 | ||||||||
| SPECIALTY RETAIL - 3.5% | ||||||||
| Abercrombie & Fitch Co. | 12,500 | 1,035,625 | ||||||
| American Eagle Outfitters, Inc. | 89,600 | 861,952 | ||||||
| Buckle, Inc. | 29,300 | 1,328,755 | ||||||
| 3,226,332 | ||||||||
| TEXTILES, APPAREL & LUXURY GOODS - 1.5% | ||||||||
| Crocs, Inc. (a) | 13,610 | 1,378,421 | ||||||
| TOTAL CONSUMER DISCRETIONARY | 9,544,104 | |||||||
| CONSUMER STAPLES - 4.4% | ||||||||
| CONSUMER STAPLES DISTRIBUTION & RETAIL - 2.3% | ||||||||
| Ingles Markets Inc. | 32,583 | 2,065,111 | ||||||
| FOOD PRODUCTS - 2.1% | ||||||||
| Ingredion Incorporated | 14,500 | 1,966,490 | ||||||
| TOTAL CONSUMER STAPLES | 4,031,601 | |||||||
| ENERGY - 4.0% | ||||||||
| ENERGY EQUIPMENT & SERVICES - 0.4% | ||||||||
| NOV, Inc. | 32,000 | 397,760 | ||||||
| OIL, GAS & CONSUMABLE FUELS - 3.6% | ||||||||
| CVR Energy, Inc. | 67,000 | 1,798,950 | ||||||
| Diamondback Energy, Inc. | 10,670 | 1,466,058 | ||||||
| 3,265,008 | ||||||||
| TOTAL ENERGY | 3,662,768 | |||||||
| Shares | Value | |||||||
| FINANCIALS - 26.5% | ||||||||
| BANKS - 22.0% | ||||||||
| BOK Financial Corporation | 18,164 | $ | 1,773,351 | |||||
| Colony Bankcorp, Inc. | 122,079 | 2,010,641 | ||||||
| Cullen/Frost Bankers, Inc. | 15,300 | 1,966,662 | ||||||
| Home Trust Bancshares, Inc. | 56,600 | 2,117,406 | ||||||
| International Bancshares Corporation | 31,900 | 2,123,264 | ||||||
| Northeast Bancorp | 22,400 | 1,993,376 | ||||||
| OFG Bancorp | 46,700 | 1,998,760 | ||||||
| South Plains Financial, Inc. | 57,700 | 2,079,508 | ||||||
| Southside Bancshares, Inc. | 61,500 | 1,809,945 | ||||||
| The Bank of N.T. Butterfield & Son Limited | 50,700 | 2,244,996 | ||||||
| 20,117,909 | ||||||||
| CONSUMER FINANCE - 2.4% | ||||||||
| SLM Corporation | 64,800 | 2,124,792 | ||||||
| FINANCIAL SERVICES - 2.1% | ||||||||
| EVERTEC Inc. | 53,900 | 1,943,095 | ||||||
| TOTAL FINANCIALS | 24,185,796 | |||||||
| HEALTH CARE - 4.9% | ||||||||
| BIOTECHNOLOGY - 1.3% | ||||||||
| Exelixis, Inc. (a) | 26,300 | 1,159,173 | ||||||
| PHARMACEUTICALS - 3.6% | ||||||||
| Amphastar Pharmaceuticals, Inc. (a) | 35,100 | 805,896 | ||||||
| Harmony Biosciences Holdings, Inc. (a) | 36,100 | 1,140,760 | ||||||
| Supernus Pharmaceuticals, Inc. (a) | 43,100 | 1,358,512 | ||||||
| 3,305,168 | ||||||||
| TOTAL HEALTH CARE | 4,464,341 | |||||||
| INDUSTRIALS - 27.7% | ||||||||
| AEROSPACE & DEFENSE - 1.8% | ||||||||
| V2X, Inc. (a) | 33,800 | 1,640,990 | ||||||
| BUILDING PRODUCTS - 3.2% | ||||||||
| Carlisle Companies Incorporated | 3,500 | 1,306,900 | ||||||
| Tecnoglass, Inc. | 21,200 | 1,640,032 | ||||||
| 2,946,932 | ||||||||
| COMMERCIAL SERVICES & SUPPLIES - 1.9% | ||||||||
| Ennis, Inc. | 97,300 | 1,765,022 | ||||||
| ELECTRICAL EQUIPMENT - 2.6% | ||||||||
| Acuity Brands, Inc. | 4,700 | 1,402,198 | ||||||
| Regal Rexnord Corporation | 6,789 | 984,133 | ||||||
| 2,386,331 | ||||||||
| GROUND TRANSPORTATION - 2.0% | ||||||||
| Covenant Logistics Group, Inc, | 77,600 | 1,870,936 | ||||||
| Shares | Value | |||||||
| MACHINERY - 3.0% | ||||||||
| Allison Transmission Holdings, Inc. | 13,600 | $ | 1,291,864 | |||||
| Wabash National Corporation | 132,100 | 1,404,223 | ||||||
| 2,696,087 | ||||||||
| PROFESSIONAL SERVICES - 7.6% | ||||||||
| Barrett Business Services, Inc. | 41,700 | 1,738,473 | ||||||
| CSG Systems International, Inc. | 29,000 | 1,893,990 | ||||||
| Kforce, Inc. | 22,894 | 941,630 | ||||||
| Maximus Inc. | 12,700 | 891,540 | ||||||
| Science Applications International Corporation | 12,900 | 1,452,669 | ||||||
| 6,918,302 | ||||||||
| TRADING COMPANIES & DISTRIBUTORS - 5.6% | ||||||||
| Air Lease Corporation | 32,000 | 1,871,680 | ||||||
| Applied Industrial Technologies, Inc. | 7,000 | 1,627,150 | ||||||
| DNOW Inc. (a) | 107,800 | 1,598,674 | ||||||
| 5,097,504 | ||||||||
| TOTAL INDUSTRIALS | 25,322,104 | |||||||
| INFORMATION TECHNOLOGY - 7.8% | ||||||||
| ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS - 4.2% | ||||||||
| Arrow Electronics, Inc. (a) | 12,700 | 1,618,361 | ||||||
| ePlus, Inc. (a) | 30,600 | 2,206,260 | ||||||
| 3,824,621 | ||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 1.2% | ||||||||
| MKS Instruments, Inc. | 11,400 | 1,132,704 | ||||||
| SOFTWARE - 2.4% | ||||||||
| Progress Software Corporation | 34,600 | 2,208,864 | ||||||
| TOTAL INFORMATION TECHNOLOGY | 7,166,189 | |||||||
| MATERIALS -6.3% | ||||||||
| CHEMICALS - 1.7% | ||||||||
| Cabot Corporation | 20,973 | 1,572,975 | ||||||
| CONSTRUCTION MATERIALS - 1.5% | ||||||||
| Eagle Materials Inc. | 7,000 | 1,414,770 | ||||||
| CONTAINERS & PACKAGING - 1.4% | ||||||||
| Graphic Packaging Holding Co. | 58,700 | 1,236,809 | ||||||
| METALS & MINING - 1.7% | ||||||||
| Lundin Mining Corporation | 148,400 | 1,557,412 | ||||||
| TOTAL MATERIALS | 5,781,966 | |||||||
| REAL ESTATE -8.3% | ||||||||
| DIVERSIFIED REITS - 2.1% | ||||||||
| Essential Properties Realty Trust, Inc. | 60,700 | 1,936,937 | ||||||
| HEALTH CARE REITS - 2.1% | ||||||||
| Sabra Health Care REIT, Inc. | 101,400 | 1,869,816 | ||||||
| Shares | Value | |||||||
| RETAIL REITS - 4.1% | ||||||||
| Netstreit Corporation | 125,600 | $ | 2,126,408 | |||||
| Phillips Edison & Company, Inc. | 46,200 | 1,618,386 | ||||||
| 3,744,794 | ||||||||
| TOTAL REAL ESTATE | 7,551,547 | |||||||
| TOTAL COMMON STOCK | ||||||||
| (Cost $ 68,762,303) | 91,710,416 | |||||||
SHORT TERM INVESTMENTS - 0.2%
| Par Value | Value | |||||||
| Money Market - 0.2% | ||||||||
| UMB Money Market Special II, 4.25%(b) | 198,677 | $ | 198,677 | |||||
| (Cost $ 198,677) | ||||||||
| TOTAL INVESTMENTS - 100.6% | ||||||||
| (Cost $ 68,960,980 ) | 91,909,093 | |||||||
| OTHER ASSETS & LIABILITIES (NET) - (0.6)% | (574,777 | ) | ||||||
| NET ASSETS - 100% | $ | 91,334,316 | ||||||
| (a) | Non-income producing security |
| (b) | Interest rate reflects seven-day effective yield on June 30, 2025. |
| (c) | At June 30, 2025, the unrealized appreciation of investments based on aggregate cost for federal tax purposes of $ 69,594,264 was as follows : |
| Aggregate gross unrealized appreciation for all investments in which there is an excess of value over tax cost | $ | 25,045,176 | ||
| Aggregate gross unrealized depreciation for all investments in which there is an excess of tax cost over value | (2,730,347 | ) | ||
| Net unrealized appreciation/(depreciation) | $ | 22,314,829 |
The percentage of each investment category is calculated as a percentage of net assets.
| SECTOR ALLOCATIONS (as a percentage of Total Net Assets) | ||||
| Industrials | 27.7 | % | ||
| Financials | 26.5 | % | ||
| Consumer Discretionary | 10.5 | % | ||
| Real Estate | 8.3 | % | ||
| Information Technology | 7.8 | % | ||
| Materials | 6.3 | % | ||
| Health Care | 4.9 | % | ||
| Consumer Staples | 4.4 | % | ||
| Energy | 4.0 | % | ||
| Cash and Other Assets (Net) | -0.4 | % | ||
| 100.0 | % | |||
| PEAR TREE QUALITY FUND |
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
Common Stock - 99.7%
| Shares | Value | |||||||
| COMMUNICATION SERVICES - 9.5% | ||||||||
| INTERACTIVE MEDIA & SERVICES - 9.5% | ||||||||
| Alphabet, Inc. Class A | 80,839 | $ | 14,246,257 | |||||
| Meta Platforms, Inc. | 24,165 | 17,835,945 | ||||||
| TOTAL COMMUNICATION SERVICES | 32,082,202 | |||||||
| CONSUMER DISCRETIONARY - 9.1% | ||||||||
| HOTELS, RESTAURANTS & LEISURE - 4.2% | ||||||||
| Compass Group Plc(b) | 239,611 | 8,271,372 | ||||||
| Hilton Worldwide Holdings Inc. | 22,873 | 6,091,995 | ||||||
| 14,363,367 | ||||||||
| MULTILINE RETAIL - 1.4% | ||||||||
| TJX Companies, Inc. (The) | 37,125 | 4,584,566 | ||||||
| RETAILING - 2.4% | ||||||||
| Amazon.com, Inc. (a) | 36,463 | 7,999,617 | ||||||
| TEXTILES, APPAREL & LUXURY GOODS - 1.1% | ||||||||
| LVMH Moët Hennessy-Louis Vuitton S.A.(b) | 35,526 | 3,732,362 | ||||||
| TOTAL CONSUMER DISCRETIONARY | 30,679,912 | |||||||
| CONSUMER STAPLES - 7.5% | ||||||||
| BEVERAGES - 4.0% | ||||||||
| Coca-Cola Company (The) | 100,077 | 7,080,448 | ||||||
| Constellation Brands, Inc. | 25,237 | 4,105,555 | ||||||
| Diageo plc(b) | 23,369 | 2,356,530 | ||||||
| 13,542,533 | ||||||||
| FOOD PRODUCTS - 1.5% | ||||||||
| Nestle, S.A.(b) | 51,088 | 5,074,060 | ||||||
| HOUSEHOLD PRODUCTS - 2.0% | ||||||||
| Unilever Plc(b) | 109,767 | 6,714,447 | ||||||
| TOTAL CONSUMER STAPLES | 25,331,040 | |||||||
| Shares | Value | |||||||
| FINANCIALS - 4.2% | ||||||||
| BANKS - 4.2% | ||||||||
| U.S. Bancorp | 155,200 | $ | 7,022,800 | |||||
| Wells Fargo & Company | 89,868 | 7,200,224 | ||||||
| TOTAL FINANCIALS | 14,223,024 | |||||||
| HEALTH CARE - 23.5% | ||||||||
| HEALTH CARE EQUIPMENT & SUPPLIES - 7.3% | ||||||||
| Abbott Laboratories | 89,202 | 12,132,364 | ||||||
| Intuitive Surgical, Inc. (a) | 11,836 | 6,431,801 | ||||||
| Thermo Fisher Scientific, Inc. | 15,162 | 6,147,584 | ||||||
| 24,711,749 | ||||||||
| HEALTH CARE PROVIDERS & SERVICES - 7.3% | ||||||||
| CIGNA Corporation | 13,906 | 4,597,046 | ||||||
| Elevance Health Inc. | 20,788 | 8,085,700 | ||||||
| Quest Diagnostics Incorporated | 21,982 | 3,948,627 | ||||||
| UnitedHealth Group, Inc. | 26,691 | 8,326,791 | ||||||
| 24,958,164 | ||||||||
| PHARMACEUTICALS - 8.9% | ||||||||
| Eli Lilly and Company | 5,362 | 4,179,840 | ||||||
| Haleon plc(b) | 629,699 | 6,529,979 | ||||||
| Johnson & Johnson | 69,466 | 10,610,931 | ||||||
| Merck & Co., Inc. | 67,375 | 5,333,405 | ||||||
| Novo Nordisk A/S(b) | 49,965 | 3,448,584 | ||||||
| 30,102,739 | ||||||||
| TOTAL HEALTH CARE | 79,772,652 | |||||||
| INDUSTRIALS - 4.9% | ||||||||
| AEROSPACE & DEFENSE - 3.3% | ||||||||
| Safran SA | 34,220 | 11,082,637 | ||||||
| MACHINERY - 1.6% | ||||||||
| Otis Worldwide Corp. | 56,210 | 5,565,914 | ||||||
| TOTAL INDUSTRIALS | 16,648,551 | |||||||
| Shares | Value | |||||||
| INFORMATION TECHNOLOGY - 41.0% | ||||||||
| IT SERVICES - 22.0% | ||||||||
| Accenture Plc | 27,650 | $ | 8,264,309 | |||||
| Amadeus IT Group, S.A.(b) | 28,362 | 2,400,560 | ||||||
| Microsoft Corporation | 38,624 | 19,211,964 | ||||||
| Oracle Corporation | 69,131 | 15,114,111 | ||||||
| salesforce.com, inc. | 26,389 | 7,196,016 | ||||||
| SAP AG(b) | 33,763 | 10,267,328 | ||||||
| Visa, Inc. | 34,231 | 12,153,716 | ||||||
| 74,608,004 | ||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 11.9% | ||||||||
| ASML Holding N.V. | 4,998 | 4,005,347 | ||||||
| KLA-Tencor Corporation | 5,636 | 5,048,391 | ||||||
| Lam Research Corporation | 88,533 | 8,617,802 | ||||||
| Taiwan Semiconductor Manufacturing Co., Ltd.(b) | 49,751 | 11,268,104 | ||||||
| Texas Instruments, Inc. | 55,686 | 11,561,527 | ||||||
| 40,501,171 | ||||||||
| SOFTWARE - 2.0% | ||||||||
| Dassault Systèmes SE(b) | 79,398 | 2,875,002 | ||||||
| Uber Technologies, Inc. | 41,381 | 3,860,847 | ||||||
| 6,735,849 | ||||||||
| TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS - 5.1% | ||||||||
| Apple, Inc. | 83,676 | 17,167,805 | ||||||
| TOTAL INFORMATION TECHNOLOGY | 139,012,829 | |||||||
| TOTAL COMMON STOCK | ||||||||
| (Cost $ 272,338,555) | 337,750,210 | |||||||
Short Term Investments - 0.4%
| Money Market - 0.4% | Par Value | Value | ||||||
| UMB Money Market Special II, 4.25%(c) | 1,292,403 | $ | 1,292,403 | |||||
| (Cost $ 1,292,403) | ||||||||
| TOTAL INVESTMENTS - 100.1% | ||||||||
| (Cost $ 273,630,958) | 339,042,613 | |||||||
| OTHER ASSETS & LIABILITIES (NET) - (0.1)% | (253,599 | ) | ||||||
| NET ASSETS - 100% | $ | 338,789,014 | ||||||
| (a) | Non-Income producing security |
| (b) | ADR - American Depositary Receipts |
| (c) | Interest rate reflects seven-day effective yield on June 30, 2025. |
| (d) | At June, 2025, the unrealized appreciation of investments based on aggregate cost for federal tax purposes of $ 273,961,336 was as follows : |
| Aggregate gross unrealized appreciation for all investments in which there is an excess of value over tax cost | $ | 81,245,949 | ||
| Aggregate gross unrealized depreciation for all investments in which there is an excess of tax cost over value | (16,164,672 | ) | ||
| Net unrealized appreciation/(depreciation) | $ | 65,081,277 |
The percentage of each investment category is calculated as a percentage of net assets.
| SECTOR ALLOCATIONS (as a percentage of Total Net Assets) | ||||
| Information Technology | 41.0 | % | ||
| Health Care | 23.5 | % | ||
| Communication Services | 9.5 | % | ||
| Consumer Discretionary | 9.1 | % | ||
| Consumer Staples | 7.5 | % | ||
| Industrials | 4.9 | % | ||
| Financials | 4.2 | % | ||
| CASH + other assets (net) | 0.3 | % | ||
| 100.0 | % | |||
| PEAR TREE ESSEX ENVIRONMENTAL OPPORTUNITIES FUND |
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
Common Stock - 94.0%
| Shares | Value | |||||||
| CHINA - 0.9% | ||||||||
| CONSUMER DISCRETIONARY - 0.9% | ||||||||
| BYD Company Limited (a) | 2,363 | $ | 221,649 | |||||
| GERMANY - 9.7% | ||||||||
| INDUSTRIALS - 4.0% | ||||||||
| Kion Group AG(b) | 17,691 | 981,011 | ||||||
| INFORMATION TECHNOLOGY - 5.7% | ||||||||
| Infineon Technologies AG | 33,563 | 1,422,852 | ||||||
| TOTAL GERMANY | 2,403,863 | |||||||
| IRELAND - 4.0% | ||||||||
| INDUSTRIALS - 4.0% | ||||||||
| Kingspan Group plc | 11,741 | 995,070 | ||||||
| JAPAN - 11.6% | ||||||||
| INDUSTRIALS - 4.4% | ||||||||
| Kurita Water Industries Ltd. | 16,669 | 657,551 | ||||||
| Yaskawa Electric Corporation | 19,676 | 445,296 | ||||||
| 1,102,847 | ||||||||
| INFORMATION TECHNOLOGY - 3.6% | ||||||||
| Keyence Corporation | 2,207 | 883,747 | ||||||
| MATERIALS - 3.6% | ||||||||
| Toray Industries, Inc. | 129,635 | 886,521 | ||||||
| TOTAL JAPAN | 2,873,115 | |||||||
| SWITZERLAND - 3.5% | ||||||||
| INFORMATION TECHNOLOGY - 3.5% | ||||||||
| Landis+Gyr Group AG | 12,563 | 877,516 | ||||||
| UNITED STATES - 64.3% | ||||||||
| CONSUMER DISCRETIONARY - 1.3% | ||||||||
| Rivian Automotive, Inc.(b) | 24,766 | 340,285 | ||||||
| Shares | Value | |||||||
| INDUSTRIALS - 33.1% | ||||||||
| Advanced Drainage Systems, Inc. | 7,006 | $ | 804,709 | |||||
| American Superconductor Corporation(b) | 35,356 | 1,297,212 | ||||||
| Amprius Technologies, Inc. | 66,786 | 281,169 | ||||||
| Copart, Inc(b) | 8,770 | 430,344 | ||||||
| Deere & Company | 1,039 | 528,321 | ||||||
| Energy Recovery, Inc.(b) | 50,935 | 650,949 | ||||||
| GE Vernova Inc.(b) | 2,294 | 1,213,870 | ||||||
| IDEX Corporation | 4,165 | 731,249 | ||||||
| Primoris Services Corporation | 9,399 | 732,558 | ||||||
| Valmont Industries, Inc. | 2,699 | 881,413 | ||||||
| Veralto Corporation | 6,755 | 681,917 | ||||||
| 8,233,711 | ||||||||
| INFORMATION TECHNOLOGY - 21.1% | ||||||||
| Badger Meter, Inc. | 5,343 | 1,308,768 | ||||||
| Cognex Corporation | 16,066 | 509,614 | ||||||
| First Solar, Inc.(b) | 6,486 | 1,073,692 | ||||||
| ON Semiconductor Corporation | 9,423 | 493,859 | ||||||
| Ouster, Inc. | 24,134 | 585,250 | ||||||
| Samsara Inc. | 8,047 | 320,110 | ||||||
| Trimble Navigation Limited(b) | 12,576 | 955,524 | ||||||
| 5,246,817 | ||||||||
| MATERIALS - 5.0% | ||||||||
| Aspen Aerogels, Inc.(b) | 114,486 | 677,757 | ||||||
| MP Materials Corp.(b) | 17,292 | 575,305 | ||||||
| 1,253,062 | ||||||||
| UTILITIES - 3.8% | ||||||||
| NextEra Energy, Inc. | 13,516 | 938,281 | ||||||
| TOTAL UNITED STATES | 16,012,156 | |||||||
| TOTAL COMMON STOCK | ||||||||
| (Cost $ 20,748,504) | 23,383,369 | |||||||
| SHORT TERM INVESTMENTS - 5.7% | Par Value | Value | ||||||
| Money Market - 5.7% | ||||||||
| UMB Money Market Special II, 4.25%(c) | 1,415,410 | $ | 1,415,410 | |||||
| (Cost $ 1,415,410) | ||||||||
| TOTAL INVESTMENTS - 99.7% | ||||||||
| (Cost $ 22,163,914) | 24,798,779 | |||||||
| OTHER ASSETS & LIABILITIES (Net) - 0.3% | 84,731 | |||||||
| NET ASSETS - 100% | $ | 24,883,510 | ||||||
| (a) | ADR - American Depositary Receipts |
| (b) | Non-income producing security. |
| (c) | Percentage rate reflects seven-day effective yield on June 30, 2025. |
| (d) | At June 30, 2025, the unrealized appreciation of investments based on aggregate cost for federal tax purposes of $ 22,847,425 was as follows: |
| Aggregate gross unrealized appreciation for all investments in which there is an excess of value over tax cost | $ | 3,903,531 | ||
| Aggregate gross unrealized depreciation for all investments in which there is an excess of tax cost over value | (1,952,178 | ) | ||
| Net unrealized appreciation/(depreciation) | $ | 1,951,353 |
The percentage of each investment category is calculated as a percentage of net assets.
| SECTOR ALLOCATIONS (as a percentage of Total Net Assets) | ||||
| Industrials | 45.5 | % | ||
| Information Technology | 33.9 | % | ||
| Materials | 8.6 | % | ||
| Utilities | 3.8 | % | ||
| Consumer Discretionary | 2.2 | % | ||
| Cash and Other Assets (Net) | 6.0 | % | ||
| 100.0 | % | |||
| PEAR TREE POLARIS FOREIGN VALUE FUND |
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
Common Stock - 98.2%
| Shares | Value | |||||||
| BELGIUM - 1.2% | ||||||||
| D’leteren S.A. | 104,278 | $ | 22,326,925 | |||||
| CANADA - 6.9% | ||||||||
| Canadian Tire Corporation | 299,615 | 40,707,677 | ||||||
| Lundin Mining Corporation | 3,383,700 | 35,510,871 | ||||||
| Magna International Inc. | 661,291 | 25,511,439 | ||||||
| Methanex Corporation | 697,993 | 23,065,229 | ||||||
| 124,795,216 | ||||||||
| CHILE - 0.8% | ||||||||
| LATAM Airlines Group | 712,579,800 | 14,397,788 | ||||||
| CHINA -1.9% | ||||||||
| Vipshop Holdings Limited (a) | 2,217,700 | 33,376,385 | ||||||
| COLOMBIA - 0.6% | ||||||||
| Tecnoglass, Inc. | 134,400 | 10,397,184 | ||||||
| FRANCE - 13.5% | ||||||||
| Capgemini SE | 216,900 | 36,930,796 | ||||||
| Ipsos | 284,041 | 15,170,637 | ||||||
| Michelin (CGDE) | 877,500 | 32,487,792 | ||||||
| Publicis Groupe | 325,147 | 36,518,447 | ||||||
| Sanofi S.A. | 295,700 | 28,535,623 | ||||||
| Teleperformance SE | 264,700 | 25,578,242 | ||||||
| TotalEnergies SE | 502,800 | 30,749,947 | ||||||
| Vinci SA | 256,998 | 37,739,699 | ||||||
| 243,711,183 | ||||||||
| GERMANY - 7.5% | ||||||||
| Daimler Truck Holding AG | 811,900 | 38,283,863 | ||||||
| Deutsche Telekom AG | 844,337 | 30,695,054 | ||||||
| Hannover Rueck SE | 108,000 | 33,874,398 | ||||||
| Muenchener Rueckversicherungs-Gesellschaft | 50,030 | 32,335,389 | ||||||
| 135,188,704 | ||||||||
| IRELAND - 4.5% | ||||||||
| Greencore Group plc | 7,319,868 | 23,423,176 | ||||||
| Jazz Pharmaceuticals plc(b) | 267,700 | 28,408,324 | ||||||
| Smurfit Westrock plc | 685,546 | 29,581,310 | ||||||
| 81,412,810 | ||||||||
| Shares | Value | |||||||
| ITALY - 2.4% | ||||||||
| Eni S.p.A. | 2,233,100 | $ | 36,069,323 | |||||
| Trevi Finanziaria Industriale SpA(b) | 16,519,624 | 6,370,110 | ||||||
| 42,439,433 | ||||||||
| JAPAN - 15.0% | ||||||||
| Daicel Corporation | 1,654,300 | 13,852,164 | ||||||
| Itochu Corporation | 702,200 | 36,732,481 | ||||||
| KDDI Corporation | 1,910,800 | 32,806,840 | ||||||
| Macnica Fuji Electronics Holdings Inc. | 423,400 | 5,689,497 | ||||||
| Marubeni Corporation | 1,998,000 | 40,293,357 | ||||||
| Mitsubishi UFJ Financial Group, Inc. | 2,549,300 | 34,997,832 | ||||||
| Orix Corporation | 1,477,000 | 33,334,626 | ||||||
| Sony Group Corporation | 1,429,900 | 36,924,276 | ||||||
| Takeda Pharmaceutical Company Limited | 1,148,000 | 35,168,403 | ||||||
| 269,799,476 | ||||||||
| NETHERLANDS -3.2% | ||||||||
| JDE Peet’s N.V. | 683,000 | 19,434,112 | ||||||
| Koninklijke Ahold Delhaize N.V. | 916,900 | 38,208,651 | ||||||
| 57,642,763 | ||||||||
| NORWAY - 6.0% | ||||||||
| DNB Bank ASA | 1,305,530 | 35,941,842 | ||||||
| SpareBank 1 SR-Norge ASA | 1,064,668 | 19,505,464 | ||||||
| Sparebanken Norge | 1,121,814 | 17,747,801 | ||||||
| Yara International ASA | 959,700 | 35,278,556 | ||||||
| 108,473,663 | ||||||||
| PUERTO RICO - 2.1% | ||||||||
| Popular, Inc. | 349,050 | 38,468,800 | ||||||
| RUSSIA - 0.0% | ||||||||
| ALROSA Company PJSC *(b) | 41,136,300 | 5,260 | ||||||
| SINGAPORE - 2.0% | ||||||||
| United Overseas Bank Limited | 1,279,247 | 36,156,781 | ||||||
| SOUTH KOREA - 9.3% | ||||||||
| F&F Co., Ltd. | 204,631 | 11,978,252 | ||||||
| Kia Motors Corporation | 423,800 | 30,428,438 | ||||||
| Samsung Electronics Company Limited | 818,970 | 36,288,090 | ||||||
| Shinhan Financial Group Co., Limited | 906,300 | 41,232,084 | ||||||
| SK Hynix, Inc. | 218,100 | 47,188,204 | ||||||
| 167,115,068 | ||||||||
| SPAIN - 3.0% | ||||||||
| Bankinter, S.A. | 1,464,800 | 19,051,513 | ||||||
| Endesa, S.A. | 1,108,000 | 34,973,729 | ||||||
| 54,025,242 | ||||||||
| SWEDEN - 3.9% | ||||||||
| Duni AB | 1,051,700 | 10,295,854 | ||||||
| Loomis AB, Class B | 551,319 | 23,000,549 | ||||||
| SKF AB-B | 1,582,000 | 36,037,543 | ||||||
| 69,333,946 | ||||||||
| Shares | Value | |||||||
| SWITZERLAND - 3.7% | ||||||||
| Barry Callebaut AG | 27,407 | $ | 29,748,302 | |||||
| Novartis AG | 300,650 | 36,323,506 | ||||||
| 66,071,808 | ||||||||
| TAIWAN -1.6% | ||||||||
| Chailease Holding Co., Limited | 6,796,000 | 29,429,481 | ||||||
| UNITED KINGDOM - 9.1% | ||||||||
| Inchcape plc | 2,090,203 | 20,796,045 | ||||||
| International Consolidated Airlines Group S.A. | 7,731,400 | 36,151,208 | ||||||
| Linde plc | 68,144 | 31,971,802 | ||||||
| Mondi plc | 1,646,444 | 26,967,465 | ||||||
| Next plc | 214,650 | 36,593,751 | ||||||
| Nomad Foods Limited | 610,400 | 10,370,696 | ||||||
| 162,850,967 | ||||||||
| TOTAL COMMON STOCK | ||||||||
| (Cost $ 1,308,820,568) | 1,767,418,883 | |||||||
SHORT TERM INVESTMENTS - 0.1%
| Par Value | Value | |||||||
| Money Market - 0.1% | ||||||||
| UMB Money Market Special II, 4.25%(c) | 1,864,884 | $ | 1,864,884 | |||||
| (Cost $ 1,864,884) | ||||||||
| TOTAL INVESTMENTS - 98.3% | ||||||||
| (Cost $ 1,310,685,452) | 1,769,283,767 | |||||||
| OTHER ASSETS & LIABILITIES (NET) - 1.7% | 29,583,970 | |||||||
| NET ASSETS - 100% | $ | 1,798,867,737 | ||||||
| * | Fair Valued by Valuation Committee as delegated by Pear Tree Fund’s Trustees |
| (a) | ADR - American Depositary Receipts |
| (b) | Non-income producing security. |
| (c) | Interest rate reflects seven-day effective yield on June 30, 2025. |
| (d) | At June 30, 2025, the unrealized appreciation of investments based on aggregate cost for federal tax purposes of $ 1,319,542,270 was as follows: |
| Aggregate gross unrealized appreciation for all investments in which there is an excess of value over tax cost | $ | 576,123,595 | ||
| Aggregate gross unrealized depreciation for all investments in which there is an excess of tax cost over value | (126,382,098 | ) | ||
| Net unrealized appreciation/(depreciation) | $ | 449,741,497 |
The percentage of each investment category is calculated as a percentage of net assets.
| SECTOR ALLOCATIONS (as a percentage of Total Net Assets) | ||||
| Financials | 20.7 | % | ||
| Industrials | 17.0 | % | ||
| Consumer Discretionary | 16.8 | % | ||
| Materials | 10.9 | % | ||
| Health Care | 7.1 | % | ||
| Information Technology | 7.0 | % | ||
| Consumer Staples | 6.7 | % | ||
| Communication Services | 6.4 | % | ||
| Energy | 3.7 | % | ||
| Utilities | 1.9 | % | ||
| Cash and Other Assets (Net) | 1.8 | % | ||
| 100.0 | % | |||
| PEAR TREE POLARIS FOREIGN VALUE SMALL CAP FUND |
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
Common Stock - 97.7%
| Shares | Value | |||||||
| BELGIUM - 3.7% | ||||||||
| D’leteren SA | 129,155 | $ | 27,653,330 | |||||
| BRAZIL - 3.3% | ||||||||
| Equatorial Energia S.A. | 3,842,326 | 25,315,605 | ||||||
| CANADA - 5.9% | ||||||||
| EQB Inc. | 339,127 | 25,738,360 | ||||||
| goeasy Ltd. | 154,324 | 18,987,111 | ||||||
| 44,725,471 | ||||||||
| CHINA - 2.5% | ||||||||
| China MeiDong Auto Holdings Limited | 12,666,000 | 3,662,652 | ||||||
| Xinhua Winshare Publishing and Media Co., Limited | 4,966,500 | 7,199,843 | ||||||
| Zhongsheng Group Holdings | 5,189,000 | 7,998,331 | ||||||
| 18,860,826 | ||||||||
| COLOMBIA - 2.9% | ||||||||
| Tecnoglass, Inc. | 279,764 | 21,642,543 | ||||||
| DENMARK - 1.8% | ||||||||
| Ringkjoebing Landbobank A/S | 64,000 | 13,976,525 | ||||||
| FRANCE - 11.9% | ||||||||
| Amundi | 209,300 | 16,878,636 | ||||||
| Elis S.A. | 615,198 | 17,577,086 | ||||||
| Ipsos | 157,100 | 8,390,715 | ||||||
| Rubis | 525,600 | 16,917,422 | ||||||
| Sopra Steria | 85,700 | 20,803,803 | ||||||
| Technip Energies N.V. | 228,800 | 9,598,911 | ||||||
| 90,166,573 | ||||||||
| GERMANY- 4.2% | ||||||||
| Krones AG | 56,800 | 9,334,429 | ||||||
| Sixt SE | 229,325 | 22,275,671 | ||||||
| 31,610,100 | ||||||||
| HONG KONG - 2.6% | ||||||||
| Kingboard Laminates Holdings, Ltd. | 7,363,000 | 8,966,915 | ||||||
| VSTECS Holdings Limited | 10,673,360 | 10,564,587 | ||||||
| 19,531,502 | ||||||||
| INDIA - 0.9% | ||||||||
| Karnataka Bank Limited | 950,000 | 2,167,520 | ||||||
| Karur Vysya Bank Limited | 1,540,700 | 4,806,423 | ||||||
| 6,973,943 | ||||||||
| INDONESIA - 0.3% | ||||||||
| PT. Pakuwon Jati Tbk | 87,020,900 | 2,004,670 | ||||||
| IRELAND - 2.5% | ||||||||
| Glanbia plc | 1,296,500 | 19,023,653 | ||||||
| ITALY - 2.1% | ||||||||
| De’Longhi SpA | 483,936 | 16,189,900 | ||||||
| Shares | Value | |||||||
| JAPAN - 12.8% | ||||||||
| Daicel Corporation | 1,746,400 | $ | 14,623,357 | |||||
| Dowa Holdings Co., Limited | 368,100 | 11,906,007 | ||||||
| Kanematsu Corporation | 686,400 | 13,041,814 | ||||||
| Kyudenko Corporation | 508,200 | 21,007,734 | ||||||
| Mizuho Leasing Company, Limited | 1,031,300 | 7,639,524 | ||||||
| Open House Group Co., Limited | 332,500 | 15,001,575 | ||||||
| Sankyu Inc. | 260,500 | 13,944,311 | ||||||
| 97,164,322 | ||||||||
| NETHERLANDS - 3.1% | ||||||||
| Aalberts N.V. | 483,434 | 17,455,605 | ||||||
| Signify N.V. | 222,900 | 6,012,727 | ||||||
| 23,468,332 | ||||||||
| NORWAY - 5.1% | ||||||||
| SpareBank Nord-Norge | 558,989 | 8,124,362 | ||||||
| Sparebank 1 Oestlandet | 217,488 | 4,183,115 | ||||||
| SpareBank 1 SMN | 446,428 | 8,555,614 | ||||||
| SpareBank 1 SR-Bank ASA | 489,426 | 8,966,628 | ||||||
| Sparebanken Norge | 568,692 | 8,997,064 | ||||||
| 38,826,783 | ||||||||
| PORTUGAL - 2.2% | ||||||||
| Redes Energéticas Nacionais, SGPS, S.A. | 4,621,005 | 16,408,663 | ||||||
| SINGAPORE - 1.0% | ||||||||
| Venture Corporation, Limited | 842,800 | 7,549,932 | ||||||
| SOUTH KOREA - 5.1% | ||||||||
| Doosan Bobcat | 156,700 | 6,757,513 | ||||||
| Orion Corporation | 59,700 | 4,812,804 | ||||||
| Poongsan Corporation | 285,600 | 27,235,270 | ||||||
| 38,805,587 | ||||||||
| SPAIN - 0.5% | ||||||||
| CIE Automotive | 135,700 | 3,886,700 | ||||||
| SWEDEN - 3.1% | ||||||||
| Hexpol AB | 1,673,400 | 16,101,190 | ||||||
| Loomis AB, Class B | 182,361 | 7,607,942 | ||||||
| 23,709,132 | ||||||||
| TAIWAN - 3.3% | ||||||||
| Primax Electronics Limited | 3,347,800 | 8,354,602 | ||||||
| Sanyang Motor Co., Limited | 7,746,000 | 16,466,747 | ||||||
| 24,821,349 | ||||||||
| THAILAND - 5.1% | ||||||||
| Thanachart Capital PCL | 13,242,400 | 18,636,179 | ||||||
| TISCO Financial Group | 6,604,000 | 19,654,278 | ||||||
| 38,290,457 | ||||||||
| UNITED KINGDOM - 11.8% | ||||||||
| Berkeley Group Holdings plc | 145,993 | 7,722,804 | ||||||
| Coats Group plc | 7,631,500 | 8,314,434 | ||||||
| Computacenter plc | 665,300 | 21,881,869 | ||||||
| Hikma Pharmaceuticals plc | 580,300 | 15,809,735 | ||||||
| Inchcape plc | 636,493 | 6,332,656 | ||||||
| OSB Group plc | 1,963,017 | 14,056,138 | ||||||
| QinetiQ | 2,200,400 | 15,544,829 | ||||||
| 89,662,465 | ||||||||
| TOTAL COMMON STOCK | ||||||||
| (Cost $ 528,347,263) | 740,268,363 | |||||||
SHORT TERM INVESTMENTS - 1.9%
| Par Value | Value | |||||||
| Money Market - 1.9% | ||||||||
| UMB Money Market Special II, 4.25% (a) | 14,223,681 | $ | 14,223,681 | |||||
| (Cost $ 14,223,681) | ||||||||
| TOTAL INVESTMENTS - 99.6% | ||||||||
| (Cost $ 542,570,944) | 754,492,044 | |||||||
| OTHER ASSETS & LIABILITIES (NET) - 0.4% | 3,354,401 | |||||||
| NET ASSETS - 100% | $ | 757,846,445 | ||||||
| (a) | Interest rate reflects seven-day effective yield on June 30, 2025. |
| (b) | At June 30, 2025, the unrealized appreciation of investments based on aggregate cost for federal tax purposes of $ 548,870,809 was as follows: |
| Aggregate gross unrealized appreciation for all investments in which there is an excess of value over tax cost | $ | 217,390,225 | ||
| Aggregate gross unrealized depreciation for all investments in which there is an excess of tax cost over value | (11,768,990 | ) | ||
| Net unrealized appreciation/(depreciation) | $ | 205,621,235 |
The percentage of each investment category is calculated as a percentage of net assets.
| SECTOR ALLOCATIONS (as a percentage of Total Net Assets) | ||||
| Financials | 23.9 | % | ||
| Industrials | 22.7 | % | ||
| Consumer Discretionary | 15.9 | % | ||
| Information Technology | 10.3 | % | ||
| Materials | 9.2 | % | ||
| Utilities | 7.7 | % | ||
| Consumer Staples | 3.2 | % | ||
| Health Care | 2.1 | % | ||
| Energy | 1.3 | % | ||
| Communication Services | 1.1 | % | ||
| Real Estate | 0.3 | % | ||
| Cash and Other Assets (Net) | 2.3 | % | ||
| 100.0 | % | |||
| PEAR TREE POLARIS INTERNATIONAL OPPORTUNITIES FUND |
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
Common Stock - 95.6%
| Shares | Value | |||||||
| AUSTRALIA - 3.0% | ||||||||
| Accent Group Limited | 261,100 | $ | 238,701 | |||||
| Macquarie Group Limited | 12,212 | 1,830,560 | ||||||
| 2,069,261 | ||||||||
| BELGIUM - 3.9% | ||||||||
| Anheuser-Busch InBev SA/NV | 4,900 | 334,988 | ||||||
| D’Ieteren S.A. | 10,700 | 2,290,973 | ||||||
| 2,625,961 | ||||||||
| BRAZIL - 3.0% | ||||||||
| Equatorial Energia S.A. | 312,217 | 2,057,078 | ||||||
| CANADA - 8.6% | ||||||||
| Alimentation Couche-Tard Inc. | 31,100 | 1,542,806 | ||||||
| EQB Inc. | 25,877 | 1,963,959 | ||||||
| goeasy Ltd. | 12,326 | 1,516,518 | ||||||
| Lundin Mining Corporation | 80,200 | 841,674 | ||||||
| 5,864,957 | ||||||||
| CHINA - 8.4% | ||||||||
| Alibaba Group Holding Ltd. | 125,200 | 1,751,205 | ||||||
| China MeiDong Auto Holdings Limited | 2,950,000 | 853,057 | ||||||
| Midea Group Co., Ltd. | 131,600 | 1,326,009 | ||||||
| Zhejiang Supor Co. | 130,100 | 951,216 | ||||||
| Zhongsheng Group Holdings | 543,000 | 836,981 | ||||||
| 5,718,468 | ||||||||
| FRANCE - 9.4% | ||||||||
| Capgemini SE | 11,100 | 1,889,958 | ||||||
| Ipsos | 14,100 | 753,081 | ||||||
| LVMH Moet Hennessy Louis Vuitton SE | 1,295 | 675,850 | ||||||
| Neurones S.A. | 43,855 | 2,313,983 | ||||||
| Sanofi S.A. | 5,000 | 482,510 | ||||||
| Teleperformance SE | 3,000 | 289,893 | ||||||
| 6,405,275 | ||||||||
| Shares | Value | |||||||
| GERMANY - 3.4% | ||||||||
| Bechtle AG | 11,100 | $ | 518,321 | |||||
| Sixt SE | 18,400 | 1,787,299 | ||||||
| 2,305,620 | ||||||||
| HONG KONG - 2.0% | ||||||||
| Kingboard Laminates Holdings, Ltd. | 330,000 | 401,885 | ||||||
| VSTECS Holdings Limited | 976,000 | 966,054 | ||||||
| 1,367,939 | ||||||||
| INDIA - 1.2% | ||||||||
| Muthoot Finance Ltd. | 26,494 | 810,606 | ||||||
| INDONESIA - 2.0% | ||||||||
| PT Bank Central Asia Tbk | 1,034,100 | 552,561 | ||||||
| PT Bank Rakyat Indonesia Tbk | 3,480,646 | 801,824 | ||||||
| 1,354,385 | ||||||||
| ITALY - 5.2% | ||||||||
| SeSa S.p.A. | 3,893 | 393,687 | ||||||
| SOL S.p.A. | 55,600 | 3,139,289 | ||||||
| 3,532,976 | ||||||||
| JAPAN - 7.8% | ||||||||
| FULLCAST HOLDINGS Co., Ltd. | 68,400 | 807,380 | ||||||
| JAC Recruitment Co., Ltd. | 154,100 | 1,080,711 | ||||||
| Kyudenko Corporation | 15,100 | 624,197 | ||||||
| NEXTAGE Co., Ltd. | 92,900 | 1,122,942 | ||||||
| Takeda Pharmaceutical Company Limited | 17,800 | 545,294 | ||||||
| Tri Chemical Laboratories Inc. | 50,900 | 1,171,674 | ||||||
| 5,352,198 | ||||||||
| MALAYSIA - 1.9% | ||||||||
| Public Bank Bhd | 676,400 | 692,384 | ||||||
| Scientex Berhad | 776,600 | 616,042 | ||||||
| 1,308,426 | ||||||||
| MEXICO - 1.9% | ||||||||
| Wal-Mart de Mexico, S.A.B. de C.V. | 388,000 | 1,276,424 | ||||||
| NETHERLANDS - 0.9% | ||||||||
| JDE Peet’s N.V. | 21,600 | 614,607 | ||||||
| NORWAY - 2.9% | ||||||||
| Sparebanken Norge | 126,582 | 2,002,607 | ||||||
| PERU - 1.2% | ||||||||
| Credicorp Ltd. | 3,600 | 804,672 | ||||||
| PORTUGAL - 0.5% | ||||||||
| Jerónimo Martins SGPS, SA | 13,600 | 342,913 | ||||||
| SINGAPORE - 2.2% | ||||||||
| United Overseas Bank Limited | 54,000 | 1,526,262 | ||||||
| Shares | Value | |||||||
| SOUTH AFRICA - 2.6% | ||||||||
| AVI Limited | 206,174 | $ | 1,092,051 | |||||
| FirstRand Limited | 163,800 | 697,643 | ||||||
| 1,789,694 | ||||||||
| SOUTH KOREA - 0.5% | ||||||||
| Samsung Electronics Company Limited | 8,108 | 359,261 | ||||||
| SWITZERLAND - 6.1% | ||||||||
| ALSO Holding AG | 7,900 | 2,664,761 | ||||||
| Barry Callebaut AG | 1,110 | 1,204,824 | ||||||
| Nestle S.A. | 3,200 | 316,905 | ||||||
| 4,186,490 | ||||||||
| TAIWAN - 8.5% | ||||||||
| Chailease Holding Co., Ltd. | 450,914 | 1,952,643 | ||||||
| POYA International Co., Ltd. | 40,680 | 699,074 | ||||||
| Sanyang Motor Co., Ltd. | 219,000 | 465,559 | ||||||
| SINBON Electronics Co., Ltd. | 173,300 | 1,296,250 | ||||||
| Yageo Corporation | 84,546 | 1,403,698 | ||||||
| 5,817,224 | ||||||||
| THAILAND - 1.4% | ||||||||
| Krungthai Card Public Company Limited | 483,300 | 356,802 | ||||||
| Muangthai Capital Public Company Limited | 577,300 | 625,979 | ||||||
| 982,781 | ||||||||
| UNITED KINGDOM - 6.3% | ||||||||
| Computacenter plc | 14,700 | 483,486 | ||||||
| Cranswick plc | 41,940 | 3,074,949 | ||||||
| Oxford Instruments plc | 14,749 | 383,228 | ||||||
| Volution Group plc | 40,700 | 329,638 | ||||||
| 4,271,301 | ||||||||
| UNITED STATES - 0.8% | ||||||||
| Euronet Worldwide, Inc. (a) | 5,400 | 547,452 | ||||||
| TOTAL COMMON STOCK | ||||||||
| (Cost $ 54,052,475) | 65,294,838 | |||||||
SHORT TERM INVESTMENTS - 4.0%
| Par Value | Value | |||||||
| Money Market - 4.0% | ||||||||
| UMB Money Market Special II, 4.25%(b) | 2,721,354 | $ | 2,721,354 | |||||
| (Cost $ 2,721,354) | ||||||||
| TOTAL INVESTMENTS - 99.6% | ||||||||
| (Cost $ 56,773,829) | 68,016,192 | |||||||
| OTHER ASSETS & LIABILITIES (Net) - 0.4% | 265,782 | |||||||
| NET ASSETS - 100% | $ | 68,281,974 | ||||||
| (a) | Non-income producing security. |
| (b) | Percentage rate reflects seven-day effective yield on June 30, 2025. |
| (c) | At June 30, 2025, the unrealized appreciation of investments based on aggregate cost for federal tax purposes of $ 56,931,805 was as follows: |
| Aggregate gross unrealized appreciation for all investments in which there is an excess of value over tax cost | $ | 14,394,064 | ||
| Aggregate gross unrealized depreciation for all investments in which there is an excess of tax cost over value | (3,309,677 | ) | ||
| Net unrealized appreciation/(depreciation) | $ | 11,084,387 |
The percentage of each investment category is calculated as a percentage of net assets.
| SECTOR ALLOCATIONS (as a percentage of Total Net Assets) | ||||
| Financials | 24.4 | % | ||
| Information Technology | 20.9 | % | ||
| Consumer Discretionary | 16.4 | % | ||
| Consumer Staples | 14.4 | % | ||
| Industrials | 7.2 | % | ||
| Materials | 6.7 | % | ||
| Utilities | 3.0 | % | ||
| Health Care | 1.5 | % | ||
| Communication Services | 1.1 | % | ||
| Cash and Other Assets (Net) | 4.4 | % | ||
| 100.0 | % | |||