PEAR TREE ESSEX ENVIRONMENTAL OPPORTUNITIES FUND

SCHEDULE OF INVESTMENTS

December 31, 2025 (Unaudited)

Common Stock - 98.9%
	Shares		Value
CHINA - 1.7%
CONSUMER DISCRETIONARY - 0.6%
BYD Company Limited(a)		14,178	$	171,696
INDUSTRIALS - 1.1%
Contemporary Amperex Technology Co., Limited		4,377		284,264
TOTAL CHINA				455,960
GERMANY - 10.8%
INDUSTRIALS - 5.3%
Kion Group AG(b)		17,691		1,417,981
INFORMATION TECHNOLOGY - 5.5%
Infineon Technologies AG		33,563		1,487,178
TOTAL GERMANY				2,905,159
IRELAND - 3.8%
INDUSTRIALS - 3.8%
Kingspan Group plc		11,741		1,022,425
JAPAN - 10.8%
INDUSTRIALS - 4.7%
Kurita Water Industries Ltd.		16,669		675,076
Yaskawa Electric Corporation		19,676		597,015
				1,272,091
INFORMATION TECHNOLOGY -3.0%
Keyence Corporation		2,207		798,065
MATERIALS - 3.1%
Toray Industries, Inc.		129,635		843,585
TOTAL JAPAN				2,913,741
SWITZERLAND - 3.0%
INFORMATION TECHNOLOGY - 3.0%
Landis+Gyr Group AG		12,563		815,017
UNITED STATES - 68.8%
CONSUMER DISCRETIONARY - 2.9%
Rivian Automotive, Inc.(b)		39,833		785,109

	Shares		Value
INDUSTRIALS - 34.3%
Advanced Drainage Systems, Inc.		7,006	$	1,014,679
American Superconductor Corporation(b)		15,635		449,975
Amprius Technologies, Inc.(b)		36,450		287,591
Array Technologies, Inc.(b)		32,235		297,207
CARRIER GLOBAL CORP		9,864		521,214
Deere & Company		1,039		483,727
EMCOR Group, Inc.		517		316,295
Energy Recovery, Inc.(b)		50,935		687,113
Fluence Energy, Inc.(b)		26,616		526,464
GE Vernova Inc.(b)		836		546,385
Nextracker Inc.(b)		5,738		499,837
Primoris Services Corporation		6,443		799,834
Proto Labs, Inc.(b)		10,609		536,709
Shoals Technologies Group, Inc.(b)		65,944		560,524
Valmont Industries, Inc.		2,699		1,085,862
Veralto Corporation		6,755		674,014
				9,287,430
INFORMATION TECHNOLOGY - 25.2%
Aeva Technologies, Inc.(b)		40,872		542,780
Badger Meter, Inc.		6,457		1,126,165
Cognex Corporation		22,395		805,772
Enphase Energy, Inc.(b)		16,537		530,011
First Solar, Inc.(b)		5,355		1,398,887
ON Semiconductor Corporation(b)		9,423		510,255
Samsara Inc.(b)		25,339		898,268
Trimble Navigation Limited(b)		12,576		985,330
				6,797,468
MATERIALS - 3.3%
Corteva, Inc.		13,143		880,975
UTILITIES - 3.1%
NextEra Energy, Inc.		10,394		834,430
TOTAL UNITED STATES				18,585,412
TOTAL COMMON STOCK
(Cost $ 23,486,621)				26,697,714

SHORT TERM INVESTMENTS - 0.2%	Par Value		Value
Money Market - 0.2%
UMB Money Market Special II, 3.48%(c)		42,741	$	42,741
(Cost $ 42,741)
TOTAL INVESTMENTS - 99.1%
(Cost $ 23,529,362)				26,740,455
OTHER ASSETS & LIABILITIES (Net) - 0.9%				257,608
NET ASSETS - 100%			$	26,998,063

(a)	ADR - American Depositary Receipts
(b)	Non-income producing security.
(c)	Percentage rate reflects seven-day effective yield on December 31, 2025.
(d)	At December 31, 2025, the unrealized appreciation of investments based on aggregate cost for federal tax purposes of $23,773,568 was as follows:

Aggregate gross unrealized appreciation for all investments in which there is an excess of value over tax cost	$	4,637,675
Aggregate gross unrealized depreciation for all investments in which there is an excess of tax cost over value		(1,670,788	)
Net unrealized appreciation/(depreciation)	$	2,966,887

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

SECTOR ALLOCATIONS (as a percentage of Total Net Assets)
Industrials	49.2	%
Information Technology	36.7	%
Materials	6.4	%
Consumer Discretionary	3.5	%
Utilities	3.1	%
Cash and Other Assets (Net)	1.1	%
	100.0	%