NPORT-EX 2 smallcap-soi.htm SCHEDULE OF INVESTMENTS

 

PEAR TREE POLARIS SMALL CAP FUND

 

 

SCHEDULE OF INVESTMENTS 

December 31, 2025 (Unaudited)

 

Common Stock -99.4%        
   Shares   Value 
CONSUMER DISCRETIONARY -11.1%          
AUTOMOBILES - 1.3%          
Winnebago Industries, Inc.   30,067   $1,218,315 
           
DIVERSIFIED CONSUMER SERVICES  - 4.7%          
Laureate Education, Inc.(a)   71,800    2,417,506 
Perdoceo Education Corporation   60,600    1,777,398 
         4,194,904 
SPECIALTY RETAIL - 5.1%          
Abercrombie & Fitch Co.(a)   14,400    1,812,528 
American Eagle Outfitters, Inc.   54,900    1,447,713 
Buckle, Inc.   25,000    1,335,500 
         4,595,741 
TOTAL CONSUMER DISCRETIONARY        10,008,960 
           
CONSUMER STAPLES - 3.4%          
CONSUMER STAPLES DISTRIBUTION & RETAIL - 2.5%          
Ingles Markets Inc.   32,283    2,213,000 
           
FOOD PRODUCTS - 0.9%          
Ingredion Incorporated   7,800    860,028 
TOTAL CONSUMER STAPLES        3,073,028 
           
ENERGY - 3.7%          
OIL, GAS & CONSUMABLE FUELS - 3.7%          
CVR Energy, Inc.(a)   67,000    1,704,480 
Diamondback Energy, Inc.   10,670    1,604,021 
         3,308,501 
TOTAL ENERGY        3,308,501 

 

 

 

 

   Shares   Value 
FINANCIALS - 25.8%          
BANKS - 20.5%          
BOK Financial Corporation   18,164   $2,151,707 
Cullen/Frost Bankers, Inc.   14,600    1,848,798 
Home Trust Bancshares, Inc.   48,300    2,074,002 
International Bancshares Corporation   30,200    2,006,488 
Northeast Bancorp   20,800    2,161,744 
OFG Bancorp   46,700    1,913,766 
South Plains Financial, Inc.   54,600    2,118,480 
Southside Bancshares, Inc.   62,227    1,891,079 
The Bank of N.T. Butterfield & Son Limited   45,600    2,271,792 
         18,437,856 
CONSUMER FINANCE  - 2.3%          
SLM Corporation   76,000    2,056,560 
           
FINANCIAL SERVICES - 3.0%          
EVERTEC Inc.   64,700    1,882,123 
NMI Holdings, Inc.(a)   20,400    832,116 
         2,714,239 
TOTAL FINANCIALS        23,208,655 
           
HEALTH CARE - 8.6%          
BIOTECHNOLOGY - 1.3%          
Exelixis, Inc.(a)   26,300    1,152,729 
           
HEALTH CARE EQUIPMENT & SUPPLIES - 2.4%          
Lantheus Holdings, Inc.(a)   32,900    2,189,495 
           
PHARMACEUTICALS - 4.9%          
Amphastar Pharmaceuticals, Inc.(a)   35,532    951,547 
ANI Pharmaceuticals, Inc.(a)   9,700    765,718 
Harmony Biosciences Holdings, Inc.(a)   36,100    1,350,862 
Supernus Pharmaceuticals, Inc.(a)   25,800    1,282,260 
         4,350,387 
TOTAL HEALTH CARE        7,692,611 
           
INDUSTRIALS - 18.5%          
AEROSPACE & DEFENSE - 2.0%          
V2X, Inc.(a)   33,800    1,843,790 
           
BUILDING PRODUCTS - 1.2%          
Carlisle Companies Incorporated   3,512    1,123,348 
           
COMMERCIAL SERVICES & SUPPLIES - 2.1%          
Ennis, Inc.   105,100    1,892,851 
           
ELECTRICAL EQUIPMENT - 1.9%          
Acuity Brands, Inc.   4,700    1,692,188 

 

 

 

 

   Shares   Value 
GROUND TRANSPORTATION - 1.4%          
Covenant Logistics Group, Inc,   56,682   $1,249,271 
           
MACHINERY - 2.9%          
Allison Transmission Holdings, Inc.   13,600    1,331,440 
Wabash National Corporation   144,670    1,251,396 
         2,582,836 
PROFESSIONAL SERVICES - 3.4%          
Barrett Business Services, Inc.   38,800    1,404,948 
Kforce, Inc.   22,894    707,882 
Maximus Inc.   10,900    940,888 
         3,053,718 
TRADING COMPANIES & DISTRIBUTORS  - 3.6%          
Applied Industrial Technologies, Inc.   7,000    1,797,390 
DNOW Inc.(a)   107,800    1,428,350 
         3,225,740 
TOTAL INDUSTRIALS        16,663,742 
           
INFORMATION TECHNOLOGY - 10.6%          
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS - 6.3%          
Arrow Electronics, Inc.(a)   15,300    1,685,754 
Avnet, Inc.   35,600    1,711,648 
ePlus, Inc.   26,100    2,288,970 
         5,686,372 
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.8%          
MKS Instruments, Inc.   15,500    2,476,900 
           
SOFTWARE - 1.5%          
Progress Software Corporation(a)   31,600    1,357,536 
TOTAL INFORMATION TECHNOLOGY        9,520,808 
           
MATERIALS -6.3%          
CHEMICALS - 1.8%          
Cabot Corporation   23,773    1,575,674 
           
CONSTRUCTION MATERIALS - 1.6%          
Eagle Materials Inc.   7,000    1,446,760 
           
CONTAINERS & PACKAGING  - 1.0%          
Graphic Packaging Holding Co.   58,700    884,022 
           
METALS & MINING - 1.9%          
Lundin Mining Corporation   80,400    1,730,231 
TOTAL MATERIALS        5,636,687 
           
REAL ESTATE - 8.8%          
DIVERSIFIED REITS - 2.0%          
Essential Properties Realty Trust, Inc.   60,700    1,800,362 

 

 

 

 

   Shares   Value 
HEALTH CARE REITS - 2.2%          
Sabra Health Care REIT, Inc.   101,400   $1,920,516 
           
RETAIL REITS - 4.6%          
Netstreit Corporation   116,000    2,046,240 
Phillips Edison & Company, Inc.   59,600    2,119,972 
         4,166,212 
TOTAL REAL ESTATE        7,887,090 
           
UTILITIES - 2.6%          
MULTI UTILITIES - 2.6%          
Black Hills Corporation   33,700    2,339,454 
TOTAL UTILITIES        2,339,454 
           
TOTAL COMMON STOCK          
(Cost $ 63,435,197)        89,339,536 
           
SHORT TERM INVESTMENTS - 0.6%          
           
   Par Value    Value  
Money Market - 0.6%          
UMB Money Market Special II, 3.48%(b)   577,185   $577,185 
  (Cost $ 577,185)          
           
TOTAL INVESTMENTS -  100.0%          
(Cost $ 64,012,382 )        89,916,721 
OTHER ASSETS & LIABILITIES (NET) - 0.0%        1,339 
NET ASSETS - 100%       $89,918,060 

 

(a)Non-income producing security
(b)Interest rate reflects seven-day effective yield on December 31, 2025.
(c)At December 31, 2025, the unrealized appreciation of investments based on aggregate cost for federal tax purposes in the amount of  $64,639,623 was as follows:

 

Aggregate gross unrealized appreciation for all investments in which there is an excess of value over tax cost       $26,824,236 
Aggregate gross unrealized depreciation for all investments in which there is an excess of tax cost over value        (1,547,138)
           
Net unrealized appreciation/(depreciation)       $25,277,098 

 

The percentage of each investment category is calculated as a percentage of net assets.

 

 

 

 

SECTOR ALLOCATIONS (as a percentage of Total Net Assets)    
Financials   25.8%
Industrials   18.5%
Consumer Discretionary   11.1%
Information Technology   10.6%
Real Estate   8.8%
Health Care   8.6%
Materials   6.3%
Energy   3.7%
Consumer Staples   3.4%
Utilities   2.6%
Cash and Other Assets (Net)   0.6%
    100.0%