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      <regStreet1>55 OLD BEDFORD ROADSUITE 202</regStreet1>
      <regCity>Lincoln</regCity>
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      <regZipOrPostalCode>01773</regZipOrPostalCode>
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      <seriesName>Pear Tree Polaris International Opportunities Fund</seriesName>
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      <repPdEnd>2022-03-31</repPdEnd>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Equatorial Energia S.A.</name>
        <lei>N/A</lei>
        <title>Equatorial Energia S.A.</title>
        <cusip>B128R9900</cusip>
        <identifiers>
          <ticker value="EQTL3 BZ"/>
        </identifiers>
        <balance>100500</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="5.4489"/>
        <valUSD>467557.67</valUSD>
        <pctVal>0.01865</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>POYA International Co., Ltd.</name>
        <lei>N/A</lei>
        <title>POYA International Co., Ltd.</title>
        <cusip>654182906</cusip>
        <identifiers>
          <ticker value="5904 TT"/>
        </identifiers>
        <balance>37389</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="27.8605"/>
        <valUSD>634098.54</valUSD>
        <pctVal>0.025292</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lancashire Holdings Limited</name>
        <lei>N/A</lei>
        <title>Lancashire Holdings Limited</title>
        <cusip>B0PYHC904</cusip>
        <identifiers>
          <ticker value="LRE LN"/>
        </identifiers>
        <balance>55205</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.7417"/>
        <valUSD>419042.94</valUSD>
        <pctVal>0.016715</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Groupe SEB</name>
        <lei>N/A</lei>
        <title>Groupe SEB</title>
        <cusip>479213001</cusip>
        <identifiers>
          <ticker value="SK FP"/>
        </identifiers>
        <balance>2750</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.8629"/>
        <valUSD>388486.5</valUSD>
        <pctVal>0.015496</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zhejiang Supor Company</name>
        <lei>N/A</lei>
        <title>Zhejiang Supor Company</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="002032C2"/>
        </identifiers>
        <balance>34500</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.4622"/>
        <valUSD>249372.5</valUSD>
        <pctVal>0.009947</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Thinking Electronic Industrial Co., Ltd.</name>
        <lei>N/A</lei>
        <title>Thinking Electronic Industrial Co., Ltd.</title>
        <cusip>006146629</cusip>
        <identifiers>
          <ticker value="2428 TT"/>
        </identifiers>
        <balance>78100</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="27.8605"/>
        <valUSD>465339.82</valUSD>
        <pctVal>0.018561</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SINBON Electronics Co., Ltd.</name>
        <lei>N/A</lei>
        <title>SINBON Electronics Co., Ltd.</title>
        <cusip>634935902</cusip>
        <identifiers>
          <ticker value="3023 TT"/>
        </identifiers>
        <balance>134300</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="27.8605"/>
        <valUSD>1132804.51</valUSD>
        <pctVal>0.045185</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sanwa Holdings Corporation</name>
        <lei>N/A</lei>
        <title>Sanwa Holdings Corporation</title>
        <cusip>677678005</cusip>
        <identifiers>
          <ticker value="5929 JP"/>
        </identifiers>
        <balance>41300</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="111.575"/>
        <valUSD>538945.1</valUSD>
        <pctVal>0.021497</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Safaricom PLC</name>
        <lei>N/A</lei>
        <title>Safaricom PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SAFCOMKN"/>
        </identifiers>
        <balance>1292600</balance>
        <units>NS</units>
        <currencyConditional curCd="KES" exchangeRt="110.5"/>
        <valUSD>492474.75</valUSD>
        <pctVal>0.019644</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zhongsheng Group Holdings</name>
        <lei>N/A</lei>
        <title>Zhongsheng Group Holdings</title>
        <cusip>B633D9904</cusip>
        <identifiers>
          <ticker value="881 HK"/>
        </identifiers>
        <balance>43500</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7847"/>
        <valUSD>350360.32</valUSD>
        <pctVal>0.013975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gree Electric Appliances, Inc.</name>
        <lei>N/A</lei>
        <title>Gree Electric Appliances, Inc.</title>
        <cusip>BD5CPN903</cusip>
        <identifiers>
          <ticker value="000651C2"/>
        </identifiers>
        <balance>61700</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.4622"/>
        <valUSD>369978.49</valUSD>
        <pctVal>0.014757</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jumbo S.A.</name>
        <lei>N/A</lei>
        <title>Jumbo S.A.</title>
        <cusip>724353909</cusip>
        <identifiers>
          <ticker value="BELA GA"/>
        </identifiers>
        <balance>27571</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.8629"/>
        <valUSD>450836.49</valUSD>
        <pctVal>0.017983</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Next Fifteen Communications Group plc</name>
        <lei>N/A</lei>
        <title>Next Fifteen Communications Group plc</title>
        <cusip>003002605</cusip>
        <identifiers>
          <ticker value="NFC LN"/>
        </identifiers>
        <balance>20753</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.7417"/>
        <valUSD>316177.57</valUSD>
        <pctVal>0.012611</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AVI Limited</name>
        <lei>N/A</lei>
        <title>AVI Limited</title>
        <cusip>006040958</cusip>
        <identifiers>
          <ticker value="AVI SJ"/>
        </identifiers>
        <balance>76900</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="15.045"/>
        <valUSD>437274.51</valUSD>
        <pctVal>0.017442</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Countryside Properties plc</name>
        <lei>N/A</lei>
        <title>Countryside Properties plc</title>
        <cusip>BYPHNG901</cusip>
        <identifiers>
          <ticker value="CSP LN"/>
        </identifiers>
        <balance>55465</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.7417"/>
        <valUSD>378017.49</valUSD>
        <pctVal>0.015078</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FirstRand Limited</name>
        <lei>N/A</lei>
        <title>FirstRand Limited</title>
        <cusip>660699901</cusip>
        <identifiers>
          <ticker value="FSR SJ"/>
        </identifiers>
        <balance>104900</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="15.045"/>
        <valUSD>449790.56</valUSD>
        <pctVal>0.017941</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BeNEXT Group, Inc.</name>
        <lei>N/A</lei>
        <title>BeNEXT Group, Inc.</title>
        <cusip>B1XC02901</cusip>
        <identifiers>
          <ticker value="2154 JP"/>
        </identifiers>
        <balance>31300</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="111.575"/>
        <valUSD>367492.72</valUSD>
        <pctVal>0.014658</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Greggs plc</name>
        <lei>N/A</lei>
        <title>Greggs plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="GRG LN"/>
        </identifiers>
        <balance>6100</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.7417"/>
        <valUSD>242453.82</valUSD>
        <pctVal>0.009671</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Midea Group Co., Ltd.</name>
        <lei>N/A</lei>
        <title>Midea Group Co., Ltd.</title>
        <cusip>BD5CPP908</cusip>
        <identifiers>
          <ticker value="000333C2"/>
        </identifiers>
        <balance>35200</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.4622"/>
        <valUSD>379115.47</valUSD>
        <pctVal>0.015122</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yageo Corporation</name>
        <lei>N/A</lei>
        <title>Yageo Corporation</title>
        <cusip>006984380</cusip>
        <identifiers>
          <ticker value="2327 TT"/>
        </identifiers>
        <balance>30000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="27.8605"/>
        <valUSD>476481.04</valUSD>
        <pctVal>0.019006</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Henkel AG &amp; Company</name>
        <lei>N/A</lei>
        <title>Henkel AG &amp; Company</title>
        <cusip>507670909</cusip>
        <identifiers>
          <ticker value="HEN GR"/>
        </identifiers>
        <balance>2400</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.8629"/>
        <valUSD>207347.32</valUSD>
        <pctVal>0.008271</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BizLink Holding, Inc.</name>
        <lei>N/A</lei>
        <title>BizLink Holding, Inc.</title>
        <cusip>B5SG8Y901</cusip>
        <identifiers>
          <ticker value="3665 TT"/>
        </identifiers>
        <balance>70400</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="27.8605"/>
        <valUSD>564756.55</valUSD>
        <pctVal>0.022527</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hansol Chemical Co., Ltd.</name>
        <lei>N/A</lei>
        <title>Hansol Chemical Co., Ltd.</title>
        <cusip>006988155</cusip>
        <identifiers>
          <ticker value="014680KS"/>
        </identifiers>
        <balance>1000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1184"/>
        <valUSD>292652.03</valUSD>
        <pctVal>0.011673</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Public Bank Bhd</name>
        <lei>N/A</lei>
        <title>Public Bank Bhd</title>
        <cusip>B012W4901</cusip>
        <identifiers>
          <ticker value="PBK MK"/>
        </identifiers>
        <balance>401500</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.1865"/>
        <valUSD>390327.24</valUSD>
        <pctVal>0.015569</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TISCO Financial Group</name>
        <lei>N/A</lei>
        <title>TISCO Financial Group</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="TISCO/FT"/>
        </identifiers>
        <balance>141700</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="33.835"/>
        <valUSD>384246.34</valUSD>
        <pctVal>0.015327</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>D'Ieteren SA</name>
        <lei>N/A</lei>
        <title>D'Ieteren SA</title>
        <cusip>B3K7KL908</cusip>
        <identifiers>
          <ticker value="DIE BB"/>
        </identifiers>
        <balance>2700</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.8629"/>
        <valUSD>397380.92</valUSD>
        <pctVal>0.01585</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SeSa SpA</name>
        <lei>N/A</lei>
        <title>SeSa SpA</title>
        <cusip>00B56RD66</cusip>
        <identifiers>
          <ticker value="SES IM"/>
        </identifiers>
        <balance>700</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.8629"/>
        <valUSD>126874.49</valUSD>
        <pctVal>0.005061</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>goeasy Ltd.</name>
        <lei>N/A</lei>
        <title>goeasy Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="GSY CN"/>
        </identifiers>
        <balance>3055</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.2669"/>
        <valUSD>487367.63</valUSD>
        <pctVal>0.01944</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEXTAGE Co., Ltd.</name>
        <lei>N/A</lei>
        <title>NEXTAGE Co., Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="3186 JP"/>
        </identifiers>
        <balance>27600</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="111.575"/>
        <valUSD>544950.03</valUSD>
        <pctVal>0.021737</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hexpol AB</name>
        <lei>N/A</lei>
        <title>Hexpol AB</title>
        <cusip>BXBZB0906</cusip>
        <identifiers>
          <ticker value="HPOLB SS"/>
        </identifiers>
        <balance>27400</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="8.7486"/>
        <valUSD>313662.76</valUSD>
        <pctVal>0.012511</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alten S.A.</name>
        <lei>N/A</lei>
        <title>Alten S.A.</title>
        <cusip>560891905</cusip>
        <identifiers>
          <ticker value="ATE FP"/>
        </identifiers>
        <balance>1600</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.8629"/>
        <valUSD>235670.41</valUSD>
        <pctVal>0.0094</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sercomm Corporation</name>
        <lei>N/A</lei>
        <title>Sercomm Corporation</title>
        <cusip>615677903</cusip>
        <identifiers>
          <ticker value="5388 TT"/>
        </identifiers>
        <balance>152000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="27.8605"/>
        <valUSD>339347.82</valUSD>
        <pctVal>0.013536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brembo S.p.A.</name>
        <lei>N/A</lei>
        <title>Brembo S.p.A.</title>
        <cusip>BF3798902</cusip>
        <identifiers>
          <ticker value="BRE IM"/>
        </identifiers>
        <balance>17500</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.8629"/>
        <valUSD>221259.71</valUSD>
        <pctVal>0.008825</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Samsung Electronics Company Limited</name>
        <lei>N/A</lei>
        <title>Samsung Electronics Company Limited</title>
        <cusip>677172009</cusip>
        <identifiers>
          <ticker value="005930KS"/>
        </identifiers>
        <balance>7908</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1184"/>
        <valUSD>494917.91</valUSD>
        <pctVal>0.019741</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bunzl plc</name>
        <lei>N/A</lei>
        <title>Bunzl plc</title>
        <cusip>B0744B906</cusip>
        <identifiers>
          <ticker value="BNZL LN"/>
        </identifiers>
        <balance>6965</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.7417"/>
        <valUSD>230538.96</valUSD>
        <pctVal>0.009196</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LVMH Moet Hennessy Louis Vuitton SE</name>
        <lei>N/A</lei>
        <title>LVMH Moet Hennessy Louis Vuitton SE</title>
        <cusip>406141903</cusip>
        <identifiers>
          <ticker value="MC FP"/>
        </identifiers>
        <balance>95</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.8629"/>
        <valUSD>68269.21</valUSD>
        <pctVal>0.002723</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ringkjoebing Landbobank A/S</name>
        <lei>N/A</lei>
        <title>Ringkjoebing Landbobank A/S</title>
        <cusip>BF1KD8900</cusip>
        <identifiers>
          <ticker value="RILBA DC"/>
        </identifiers>
        <balance>3300</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.4161"/>
        <valUSD>381119.37</valUSD>
        <pctVal>0.015202</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Neurones S.A.</name>
        <lei>N/A</lei>
        <title>Neurones S.A.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="NRO FP"/>
        </identifiers>
        <balance>6500</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.8629"/>
        <valUSD>263645.85</valUSD>
        <pctVal>0.010516</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Essity AB</name>
        <lei>N/A</lei>
        <title>Essity AB</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="ESSITYB"/>
        </identifiers>
        <balance>10500</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="8.7486"/>
        <valUSD>326452.23</valUSD>
        <pctVal>0.013021</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Soulbrain Holdings Co., Ltd.</name>
        <lei>N/A</lei>
        <title>Soulbrain Holdings Co., Ltd.</title>
        <cusip>B0105T900</cusip>
        <identifiers>
          <ticker value="357780KS"/>
        </identifiers>
        <balance>798</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1184"/>
        <valUSD>184133.11</valUSD>
        <pctVal>0.007345</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OSB Group PLC</name>
        <lei>N/A</lei>
        <title>OSB Group PLC</title>
        <cusip>BM7S7K902</cusip>
        <identifiers>
          <ticker value="OSB LN"/>
        </identifiers>
        <balance>57300</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.7417"/>
        <valUSD>386661.05</valUSD>
        <pctVal>0.015423</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Interpump Group S.p.A.</name>
        <lei>N/A</lei>
        <title>Interpump Group S.p.A.</title>
        <cusip>516140902</cusip>
        <identifiers>
          <ticker value="IP IM"/>
        </identifiers>
        <balance>3800</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.8629"/>
        <valUSD>246610.27</valUSD>
        <pctVal>0.009837</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Muangthai Capital Public Company Limited</name>
        <lei>N/A</lei>
        <title>Muangthai Capital Public Company Limited</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="MTC/F TB"/>
        </identifiers>
        <balance>197100</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="33.835"/>
        <valUSD>339325.4</valUSD>
        <pctVal>0.013535</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Scientex Berhad</name>
        <lei>N/A</lei>
        <title>Scientex Berhad</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SCI MK"/>
        </identifiers>
        <balance>475000</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.1865"/>
        <valUSD>518511.88</valUSD>
        <pctVal>0.020682</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Grupo Aeroportuario del Centro Norte S.A.B. de C.V. - B</name>
        <lei>N/A</lei>
        <title>Grupo Aeroportuario del Centro Norte S.A.B. de C.V. - B</title>
        <cusip>B1KFX1904</cusip>
        <identifiers>
          <ticker value="OMAB MM"/>
        </identifiers>
        <balance>38100</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="20.5445"/>
        <valUSD>224507.09</valUSD>
        <pctVal>0.008955</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brenntag AG</name>
        <lei>N/A</lei>
        <title>Brenntag AG</title>
        <cusip>B4YVF5909</cusip>
        <identifiers>
          <ticker value="BNR GR"/>
        </identifiers>
        <balance>2500</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.8629"/>
        <valUSD>233456.95</valUSD>
        <pctVal>0.009312</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Howden Joinery Group plc</name>
        <lei>N/A</lei>
        <title>Howden Joinery Group plc</title>
        <cusip>055768006</cusip>
        <identifiers>
          <ticker value="HWDN LN"/>
        </identifiers>
        <balance>20200</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.7417"/>
        <valUSD>243968.72</valUSD>
        <pctVal>0.009731</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alibaba Group Holding Ltd.</name>
        <lei>N/A</lei>
        <title>Alibaba Group Holding Ltd.</title>
        <cusip>01609W102</cusip>
        <identifiers>
          <ticker value="BABA"/>
        </identifiers>
        <balance>2700</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>399735</valUSD>
        <pctVal>0.015944</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Credicorp Ltd.</name>
        <lei>N/A</lei>
        <title>Credicorp Ltd.</title>
        <cusip>G2519Y108</cusip>
        <identifiers>
          <ticker value="BAP"/>
        </identifiers>
        <balance>3600</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>399384</valUSD>
        <pctVal>0.01593</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Euronet Worldwide, Inc.</name>
        <lei>N/A</lei>
        <title>Euronet Worldwide, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="EEFT"/>
        </identifiers>
        <balance>3500</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>445480</valUSD>
        <pctVal>0.017769</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Amcor plc</name>
        <lei>N/A</lei>
        <title>Amcor plc</title>
        <cusip>G0250X107</cusip>
        <identifiers>
          <ticker value="AMCR"/>
        </identifiers>
        <balance>19600</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>227164</valUSD>
        <pctVal>0.009061</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OpenText Corporation</name>
        <lei>N/A</lei>
        <title>OpenText Corporation</title>
        <cusip>683715957</cusip>
        <identifiers>
          <ticker value="OTEX CN"/>
        </identifiers>
        <balance>7400</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.2669"/>
        <valUSD>361092.43</valUSD>
        <pctVal>0.014403</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Enghouse Systems Limited</name>
        <lei>N/A</lei>
        <title>Enghouse Systems Limited</title>
        <cusip>292949955</cusip>
        <identifiers>
          <ticker value="ENGH CN"/>
        </identifiers>
        <balance>8200</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.2669"/>
        <valUSD>359676.38</valUSD>
        <pctVal>0.014347</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Equitable Group Inc.</name>
        <lei>N/A</lei>
        <title>Equitable Group Inc.</title>
        <cusip>294505953</cusip>
        <identifiers>
          <ticker value="EQB CN"/>
        </identifiers>
        <balance>3600</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.2669"/>
        <valUSD>406062.04</valUSD>
        <pctVal>0.016197</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Grupo Aeroportuario del Sureste, S. A. B. de C.V.</name>
        <lei>N/A</lei>
        <title>Grupo Aeroportuario del Sureste, S. A. B. de C.V.</title>
        <cusip>MXP001661</cusip>
        <identifiers>
          <ticker value="ASURB MM"/>
        </identifiers>
        <balance>13300</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="20.5445"/>
        <valUSD>249737.93</valUSD>
        <pctVal>0.009961</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Grupo Aeroportuario del Pacifico, S.A.B. de C. V.</name>
        <lei>N/A</lei>
        <title>Grupo Aeroportuario del Pacifico, S.A.B. de C. V.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="GAPB MM"/>
        </identifiers>
        <balance>23300</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="20.5445"/>
        <valUSD>272178.3</valUSD>
        <pctVal>0.010856</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Federated Hermes Treasury Obligations Fund</name>
        <lei>N/A</lei>
        <title>Federated Hermes Treasury Obligations Fund</title>
        <cusip>60934N500</cusip>
        <identifiers>
          <ticker value="TOIXX"/>
        </identifiers>
        <balance>242628</balance>
        <units>OU</units>
        <descOthUnits>Par Value</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>242628</valUSD>
        <pctVal>0.009678</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>0</name>
        <lei>N/A</lei>
        <title>0</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="MXN"/>
        </identifiers>
        <balance>181740</balance>
        <units>PA</units>
        <currencyConditional curCd="MXN" exchangeRt="20.5445"/>
        <valUSD>8846.16</valUSD>
        <pctVal>0.000353</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Foreign Currency"/>
        <issuerConditional desc="FOREIGN CURRENCY" issuerCat="OTHER"/>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>0</name>
        <lei>N/A</lei>
        <title>0</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="JPY"/>
        </identifiers>
        <balance>0</balance>
        <units>PA</units>
        <currencyConditional curCd="JPY" exchangeRt="111.575"/>
        <valUSD>0</valUSD>
        <pctVal>0</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Foreign Currency"/>
        <issuerConditional desc="FOREIGN CURRENCY" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2021-11-24</ncom:dateSigned>
      <ncom:nameOfApplicant>Pear Tree Funds</ncom:nameOfApplicant>
      <ncom:signature>Diane Hunt</ncom:signature>
      <ncom:signerName>Diane Hunt</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
