Security Name CUSIP Number Shares/Par Value Base Market ... Holdings.pdf · Form N-CSR, and the...

Pear Tree Quality Fund

6/30/17

Security Name CUSIP Number Shares/Par Value Base Market Value

3M CO '88579Y101 19,232 4,003,910

ABBOTT LABORATORIES '002824100 47,651 2,316,315

ACCENTURE PLC CL A 'G1151C101 22,939 2,837,096

ALPHABET INC CL A '02079K305 5,668 5,269,426

ALPHABET INC CL C '02079K107 4,057 3,686,718

AMERICAN EXPRESS CO '025816109 45,142 3,802,762

AMPHENOL CORP CL A '032095101 7,357 543,094

ANALOG DEVICES INC '032654105 10,239 796,594

ANTHEM INC '036752103 3,345 629,295

APPLE INC '037833100 42,641 6,141,157

AUTOMATIC DATA PROCESSING '053015103 2,783 285,146

BECTON DICKINSON AND CO '075887109 5,325 1,038,961

BRITISH AMERICAN TOB SP ADR '110448107 39,373 2,698,625

CERNER CORP '156782104 11,729 779,627

CISCO SYSTEMS INC '17275R102 98,357 3,078,574

COCA COLA CO/THE '191216100 57,449 2,576,588

COGNIZANT TECH SOLUTIONS A '192446102 38,151 2,533,226

COMPASS GROUP PLC SPON ADR '20449X401 55,814 1,198,336

COSTCO WHOLESALE CORP '22160K105 11,992 1,917,881

CVS HEALTH CORP '126650100 10,279 827,048

ELI LILLY + CO '532457108 9,877 812,877

EMERSON ELECTRIC CO '291011104 25,005 1,490,798

GENUINE PARTS CO '372460105 4,003 371,318

HONEYWELL INTERNATIONAL INC '438516106 7,162 954,623

HUMANA INC '444859102 4,665 1,122,492

ILLINOIS TOOL WORKS '452308109 12,475 1,787,044

INTUIT INC '461202103 3,972 527,521

INTUITIVE SURGICAL INC '46120E602 466 435,882

JOHNSON + JOHNSON '478160104 39,677 5,248,870

LVMH MOET HENNESSY UNSP ADR '502441306 28,000 1,406,160

MASTERCARD INC A '57636Q104 9,604 1,166,406

MCDONALD S CORP '580135101 12,262 1,878,048

MEDTRONIC PLC 'G5960L103 39,041 3,464,889

MICROSOFT CORP '594918104 126,248 8,702,275

MONSANTO CO '61166W101 18,325 2,168,947

NESTLE SA SPONS ADR '641069406 29,702 2,590,014

NIKE INC CL B '654106103 17,216 1,015,744

NOVARTIS AG SPONSORED ADR '66987V109 7,861 656,158

ORACLE CORP '68389X105 138,546 6,946,696

PEPSICO INC '713448108 6,857 791,915

PFIZER INC '717081103 26,140 878,043

PHILIP MORRIS INTERNATIONAL '718172109 30,764 3,613,232

QUALCOMM INC '747525103 50,530 2,790,267

RECKITT BENCKISER GROUP PLC 'G74079107 14,926 1,527,676

ROCKWELL AUTOMATION INC '773903109 4,479 725,419

SAP SE SPONSORED ADR '803054204 7,403 774,872

Pear Tree Quality Fund

6/30/17

SCHLUMBERGER LTD '806857108 17,423 1,147,130

STRYKER CORP '863667101 11,032 1,531,021

TAIWAN SEMICONDUCTOR SP ADR '874039100 54,603 1,908,921

TERADATA CORP '88076W103 20,927 617,137

TEXAS INSTRUMENTS INC '882508104 10,549 811,535

TJX COMPANIES INC '872540109 7,539 544,090

UNILEVER N V NY SHARES '904784709 52,777 2,916,985

UNILEVER PLC SPONSORED ADR '904767704 55,376 2,996,949

UNITED TECHNOLOGIES CORP '913017109 17,943 2,191,020

UNITEDHEALTH GROUP INC '91324P102 28,560 5,295,595

VF CORP '918204108 11,651 671,098

WW GRAINGER INC '384802104 1,795 324,051

ZIMMER BIOMET HOLDINGS INC '98956P102 6,182 793,769

122,557,864

US DOLLAR 'USD 7,419 7,419

STATE STREET REPO '85799F003 1,119,220 1,119,220

Other Assets - Liabilities 129,000

Mark to Market (48)

Total Net Assets 123,813,456

IMPORTANT LEGAL INFORMATION:

Investors should read the prospectus carefully before investing because it contains more complete

information on the Pear Tree Funds’ investment objectives, risks, charges and expenses. Please

consider this information carefully. For a prospectus and other information, visit

www.peartreefunds.com or call (800) 326-2151. The Portfolio is actively managed and holdings are

subject to change without notice and may not represent current or future portfolio composition.

The portfolio data is “as of” the date indicated and we disclaim any responsibility to update the

information. Unlike the fund’s regulatory filings, the portfolio data and its presentation in this

document are not required to conform to Generally Accepted Accounting Principles (GAAP) and

Securities and Exchange Commission (SEC) presentation requirements. Therefore, it differs from that in

the complete statement of investments in the annual and semiannual report to shareholders filed with

the SEC on Form N-CSR, and the complete statement of investments provided in the first and third

quarter SEC Form N-Q filings for each fiscal year. Forms N-CSR and N-Q for the Fund are available on

the SEC website at www.sec.gov.

The portfolio data is for information only. It does not constitute a recommendation or an offer for a

particular security or fund. Reference to specific securities or holdings should not be considered

recommendations for action by investors.

Pear Tree Polaris Small Cap Fund

6/30/17

Security Name CUSIP Number Shares/Par Value Base Market Value

AIR LEASE CORP '00912X302 64,000 2,391,040

ALLETE INC '018522300 35,400 2,537,472

ALLIANCE DATA SYSTEMS CORP '018581108 2,255 578,836

AMERIS BANCORP '03076K108 87,700 4,227,140

ASBURY AUTOMOTIVE GROUP '043436104 35,546 2,010,126

BEL FUSE INC CL B '077347300 96,000 2,371,200

BROOKLINE BANCORP INC '11373M107 156,000 2,277,600

BRYN MAWR BANK CORP '117665109 54,146 2,301,205

CAMBREX CORP '132011107 21,397 1,278,471

CARDTRONICS PLC A 'G1991C105 46,183 1,517,573

CENTRAL PACIFIC FINANCIAL CO '154760409 83,883 2,639,798

CINEMARK HOLDINGS INC '17243V102 48,191 1,872,220

COBIZ FINANCIAL INC '190897108 103,909 1,808,017

COLONY BANKCORP '19623P101 154,884 2,121,911

COMPUTER PROGRAMS + SYSTEMS '205306103 96,450 3,163,560

DECKERS OUTDOOR CORP '243537107 42,000 2,866,920

DIAMONDBACK ENERGY INC '25278X109 16,670 1,480,463

DIME COMMUNITY BANCSHARES '253922108 96,900 1,899,240

DUPONT FABROS TECHNOLOGY '26613Q106 49,205 3,009,378

EDUCATION REALTY TRUST INC '28140H203 48,957 1,897,084

ENTRAVISION COMMUNICATIONS A '29382R107 436,364 2,880,002

EPR PROPERTIES '26884U109 43,410 3,119,877

EVERTEC INC '30040P103 154,600 2,674,580

EXCO TECHNOLOGIES LTD '30150P109 251,400 2,068,132

FERRO CORP '315405100 188,035 3,439,160

FNB CORP '302520101 117,880 1,669,181

GREENBRIER COMPANIES INC '393657101 52,500 2,428,125

HERCULES CAPITAL INC '427096508 133,995 1,774,094

INTEGRATED DEVICE TECH INC '458118106 107,839 2,781,168

INTERNATIONAL BANCSHARES CRP '459044103 60,700 2,127,535

KFORCE INC '493732101 119,694 2,346,002

MICROSEMI CORP '595137100 34,728 1,625,270

MOTORCAR PARTS OF AMERICA IN '620071100 83,806 2,366,681

NATIONAL CINEMEDIA INC '635309107 147,295 1,092,929

NATUS MEDICAL INC '639050103 66,220 2,470,006

NCI BUILDING SYSTEMS INC '628852204 140,244 2,342,075

OFG BANCORP '67103X102 163,300 1,633,000

PHIBRO ANIMAL HEALTH CORP A '71742Q106 76,800 2,845,440

PHYSICIANS REALTY TRUST '71943U104 115,622 2,328,627

PINNACLE FINANCIAL PARTNERS '72346Q104 73,495 4,615,467

REGAL ENTERTAINMENT GROUP A '758766109 106,911 2,187,399

SELECT INCOME REIT '81618T100 45,722 1,098,700

SPIRIT AIRLINES INC '848577102 38,998 2,014,247

SWIFT TRANSPORTATION CO '87074U101 95,965 2,543,073

UNITED INSURANCE HOLDINGS CO '910710102 142,751 2,245,473

US CONCRETE INC '90333L201 27,860 2,188,403

Pear Tree Polaris Small Cap Fund

6/30/17

VWR CORP '91843L103 89,400 2,951,094

WEB.COM GROUP INC '94733A104 112,600 2,848,780

WESCO INTERNATIONAL INC '95082P105 34,300 1,965,390

112,919,163

CANADIAN DOLLAR 'CAD 17,095 13,168

SSC GOVERNMENT MM GVMXX '7839989D1 2,853,727 2,853,727

Other Assets - Liabilities 81,925

Mark to Market -









information. Unlike the fund’s regulatory filings, the portfolio data and its presentation in this document

are not required to conform to Generally Accepted Accounting Principles (GAAP) and Securities and

Exchange Commission (SEC) presentation requirements. Therefore, it differs from that in the complete

statement of investments in the annual and semiannual report to shareholders filed with the SEC on

Form N-CSR, and the complete statement of investments provided in the first and third quarter SEC Form

N-Q filings for each fiscal year. Forms N-CSR and N-Q for the Fund are available on the SEC website at

www.sec.gov.




Pear Tree PanAgora Emerging Markets Fund

6/30/17

Security Name Shares/Par Value Base Market Value

AAC TECHNOLOGIES HOLDINGS IN 93,500 1,169,049

ABU DHABI COMMERCIAL BANK 72,251 137,891

AGRICULTURAL BANK OF CHINA H 62,000 29,308

AIRASIA BHD 1,124,800 851,595

ALDAR PROPERTIES PJSC 156,436 97,958

ALROSA PJSC 118,400 173,208

ASUSTEK COMPUTER INC 14,000 132,314

BANCO BRADESCO S.A. 3,300 27,550

BANCO DO BRASIL S.A. 2,700 21,888

BANGKOK BANK PCL FOREIGN REG 28,200 163,538

BANK NEGARA INDONESIA PERSER 1,105,100 547,264

BANK OF CHINA LTD H 69,392 34,047

BANK OF COMMUNICATIONS CO H 30,000 21,176

BARCLAYS AFRICA GROUP LTD 3,187 34,982

BELLE INTERNATIONAL HOLDINGS 464,000 366,159

BGF RETAIL CO LTD 10,159 896,787

BHARAT PETROLEUM CORP LTD 31,902 314,936

BIDVEST GROUP LTD 51,589 620,742

CATCHER TECHNOLOGY CO LTD 15,000 179,241

CATHAY FINANCIAL HOLDING CO 39,000 64,231

CHANG HWA COMMERCIAL BANK 171,000 98,092

CHINA CINDA ASSET MANAGEME H 75,000 27,959

CHINA CITIC BANK CORP LTD H 40,000 24,494

CHINA COMMUNICATIONS SERVI H 832,000 479,631

CHINA CONSTRUCTION BANK H 45,422 35,204

CHINA EVERBRIGHT BANK CO L H 40,000 18,704

CHINA GALAXY SECURITIES CO H 17,500 15,693

CHINA LIFE INSURANCE CO LTD 51,120 50,918

CHINA MENGNIU DAIRY CO 421,000 825,173

CHINA MERCHANTS BANK H 8,500 25,644

CHINA MINSHENG BANKING H 18,500 18,462

CHINA MOBILE LTD 76,284 809,650

CHINA NATIONAL BUILDING MA H 680,000 404,202

CHINA RAILWAY GROUP LTD H 452,000 356,111

CHINA RESOURCES POWER HOLDIN 350,000 686,908

CHINA STATE CONSTRUCTION INT 380,000 650,372

CHINA VANKE CO LTD H 7,900 22,366

CHONGQING RURAL COMMERCIAL H 42,687 28,819

CIA SANEAMENTO BASICO DE SP 24,300 232,713

CORONATION FUND MANAGERS LTD 8,910 44,352

COUNTRY GARDEN HOLDINGS CO 68,000 78,837

COWAY CO LTD 8,158 741,539

CREDICORP LTD 3,205 574,945

CTBC FINANCIAL HOLDING CO LT 95,000 62,303

DONGBU INSURANCE CO LTD 2,167 128,791

DUBAI ISLAMIC BANK 103,505 160,624


6/30/17

EDP ENERGIAS DO BRASIL SA 69,700 299,171

EXXARO RESOURCES LTD 51,630 366,639

FIBRIA CELULOSE SA 138,900 1,420,532

FIRST ABU DHABI BANK PJSC 58,501 167,234

FIRST FINANCIAL HOLDING CO 127,060 84,999

FIRSTRAND LTD 12,774 45,990

FOXCONN TECHNOLOGY CO LTD 38,000 114,675

FUBON FINANCIAL HOLDING CO 9,000 14,334

GEELY AUTOMOBILE HOLDINGS LT 137,000 295,552

GOLD FIELDS LTD 150,582 516,610

GS RETAIL CO LTD 26,532 1,196,566

GUANGDONG INVESTMENT LTD 776,000 1,069,659

GUANGZHOU AUTOMOBILE GROUP H 152,000 266,769

GUANGZHOU R+F PROPERTIES H 21,600 33,593

GUDANG GARAM TBK PT 219,100 1,287,228

HANA FINANCIAL GROUP 2,296 90,805

HANKOOK TIRE CO LTD 8,277 460,095

HANMI SCIENCE CO LTD 15,785 1,164,405

HCL TECHNOLOGIES LTD 118,427 1,559,911

HINDUSTAN PETROLEUM CORP 45,788 360,991

HON HAI PRECISION INDUSTRY 48,544 186,708

HUA NAN FINANCIAL HOLDINGS C 137,000 79,489

HUANENG POWER INTL INC H 1,144,000 794,322

HYUNDAI ENGINEERING + CONST 17,416 700,963

IMPERIAL HOLDINGS LTD 28,344 348,450

IND + COMM BK OF CHINA H 46,911 31,671

INDOFOOD SUKSES MAKMUR TBK P 1,285,700 829,639

INVENTEC CO LTD 149,000 121,473

KASIKORNBANK PCL FOREIGN 25,900 152,106

KB FINANCIAL GROUP INC 2,641 133,187

KRUNG THAI BANK PUB CO FOREI 284,846 157,642

LARGAN PRECISION CO LTD 708 112,880

LG UPLUS CORP 84,506 1,152,203

LITE ON TECHNOLOGY CORP 88,000 144,642

LOTTE CHEMICAL CORP 1,992 598,914

M DIAS BRANCO SA 26,900 401,146

MEGA FINANCIAL HOLDING CO LT 107,000 88,991

MOL HUNGARIAN OIL AND GAS PL 9,492 743,961

NANYA TECHNOLOGY CORP 61,000 109,888

NEDBANK GROUP LTD 2,684 42,790

NIEN MADE ENTERPRISE CO LTD 77,000 854,290

NINE DRAGONS PAPER HOLDINGS 198,000 263,797

NOVATEK MICROELECTRONICS COR 44,000 177,909

OIL + NATURAL GAS CORP LTD 102,402 249,203

OPAP SA 71,921 812,591

OTP BANK PLC 15,883 530,794

PEGATRON CORP 50,000 156,640


6/30/17

PHISON ELECTRONICS CORP 15,000 185,158

POU CHEN 848,000 1,173,596

POWER FINANCE CORPORATION 141,804 270,390

POWERTECH TECHNOLOGY INC 49,000 151,252

QATAR INSURANCE CO 16,934 311,811

QATAR NATIONAL BANK 9,731 337,623

QUALICORP SA 55,500 481,813

REALTEK SEMICONDUCTOR CORP 25,000 89,990

ROSNEFT OIL CO PJSC 6,390 35,010

RUSHYDRO PJSC 23,935,000 320,613

SAMSUNG CARD CO 3,783 129,114

SAMSUNG ELECTRONICS CO LTD 246 511,071

SBERBANK OF RUSSIA PJSC 77,730 191,937

SHANGHAI INDUSTRIAL HLDG LTD 143,000 423,174

SHENZHOU INTERNATIONAL GROUP 50,550 332,208

SHOPRITE HOLDINGS LTD 42,778 651,261

SIAM CEMENT PUB CO FOR REG 56,100 832,334

SINOPAC FINANCIAL HOLDINGS 232,000 70,927

SINOPEC SHANGHAI PETROCHEM H 384,000 205,626

SK HYNIX INC 10,479 617,301

SK TELECOM 4,170 969,471

STANDARD BANK GROUP LTD 938 10,317

SURGUTNEFTEGAS OJSC 260,400 113,248

TAIWAN SEMICONDUCTOR MANUFAC 21,270 145,786

TATNEFT PJSC 18,240 115,458

TELEKOMUNIKASI INDONESIA PER 3,864,600 1,310,673

TELKOM SA SOC LTD 100,497 472,318

THE FOSCHINI GROUP LTD 33,929 355,657

UNITED MICROELECTRONICS CORP 447,000 216,741

VANGUARD INTERNATIONAL SEMI 68,000 134,122

WPG HOLDINGS LTD 103,000 137,469

BANCO SANTANDER BRASIL UNIT 3,200 24,199

BANCOLOMBIA S.A. SPONS ADR 9,017 401,707

GAZPROM PAO SPON ADR 21,428 84,812

LUKOIL PJSC SPON ADR 2,318 112,887

MMC NORILSK NICKEL PJSC ADR 12,875 177,675

MOBILE TELESYSTEMS SP ADR 48,392 405,525

NETEASE INC ADR 3,798 1,141,793

NEW ORIENTAL EDUCATIO SP ADR 6,384 450,008

NOVATEK PJSC SPONS GDR REG S 1,976 220,126

PHOSAGRO PJSC GDR REG S 33,323 441,530

PTT PCL NVDR 57,700 628,466

SEVERSTAL GDR REG S 10,317 135,359

SIAM COMMERCIAL BANK P NVDR 37,100 169,828

PEAR TREE PANAGORA RISK PARITY 6,294,709 58,981,420

VANGUARD FTSE EMERGING MARKETS 32,800 1,339,224

BANCO BRADESCO SA PREF 3,850 32,783


6/30/17

CIA ENERGETICA MINAS GER PRF 56,200 137,357

CIA PARANAENSE DE ENERGI PFB 20,500 152,109

HYUNDAI MOTOR CO LTD 2ND PRF 4,719 480,500

ITAU UNIBANCO HOLDING S PREF 2,500 27,791

ITAUSA INVESTIMENTOS ITAU PR 10,800 29,467

SAMSUNG ELECTRONICS PREF 288 468,694

SURGUTNEFTEGAS PREFERENCE 333,000 160,975

FORTRESS INCOME FUND LTD A 36,916 48,371

GROWTHPOINT PROPERTIES LTD 21,493 40,176

REDEFINE PROPERTIES LTD 46,492 37,346

110,912,012

BRAZILIAN REAL 84,181 25,463

EGYPTIAN POUND 80,909 4,465

EURO CURRENCY 199 227

HONG KONG DOLLAR 386,318 49,490

HUNGARIAN FORINT 26 0

INDIAN RUPEE 735,288 11,376

INDONESIAN RUPIAH 906,072 68

NEW TAIWAN DOLLAR 26,336 866

PHILIPPINE PESO 1 0

POLISH ZLOTY 312 84

QATARI RIAL 112 30

SINGAPORE DOLLAR 4,119 2,992

SOUTH AFRICAN RAND 45,569 3,480

UAE DIRHAM 18,494 5,035

103,576

STATE STREET REPO 1,293,938 1,293,938

Other Assets - Liabilities (852,990)

Mark to Market (1,544)









6/30/17




Securities and Exchange Commission (SEC) presentation requirements. Therefore, it differs from that

in the complete statement of investments in the annual and semiannual report to shareholders filed

with the SEC on Form N-CSR, and the complete statement of investments provided in the first and

third quarter SEC Form N-Q filings for each fiscal year. Forms N-CSR and N-Q for the Fund are

available on the SEC website at www.sec.gov.




Pear Tree Polaris Foreign Value Fund

6/30/17


ANDRITZ AG 686,800 41,338,175

ASAHI GROUP HOLDINGS LTD 1,042,100 39,201,021

BARRATT DEVELOPMENTS PLC 5,570,382 40,793,253

BASF SE 421,200 38,979,526

BBA AVIATION PLC 7,271,072 29,047,700

BELLWAY PLC 1,054,148 40,756,605

DEUTSCHE TELEKOM AG REG 2,366,719 42,460,014

DNB ASA 2,470,330 41,865,253

DUNI AB 1,281,600 18,713,091

FREENET AG 1,249,409 39,817,932

GREENCORE GROUP PLC 12,911,181 41,277,227

HANNOVER RUECK SE 337,200 40,387,865

HYUNDAI MOBIS CO LTD 133,700 29,213,827

IMERYS SA 490,379 42,616,979

IPSOS 482,280 18,080,712

KANSAI ELECTRIC POWER CO INC 2,994,600 41,217,547

KDDI CORP 1,562,500 41,358,045

KIA MOTORS CORP 886,500 29,597,780

KONE OYJ B 766,500 38,962,181

LANXESS AG 532,000 40,247,651

LG UPLUS CORP 2,039,400 27,806,354

LINDE AG 216,500 40,965,977

LOOMIS AB B 824,426 29,496,109

MAGNA INTERNATIONAL INC 875,734 40,520,194

METHANEX CORP 1,003,793 44,265,087

MICHELIN (CGDE) 325,400 43,226,634

MIXI INC 493,700 27,453,401

MUENCHENER RUECKVER AG REG 200,830 40,464,782

NEXON CO LTD 1,563,000 30,872,014

NOVARTIS AG REG 466,050 38,807,106

PERSIMMON PLC 1,451,975 42,306,216

POPULAR INC 942,355 39,305,627

SAMSUNG ELECTRONICS CO LTD 21,059 43,750,595

SASOL LTD 1,501,135 42,009,428

SIAM COMMERCIAL BANK FOREIGN 8,836,100 40,447,853

SOLVAY SA 314,518 42,175,891

SPAREBANK 1 SR BANK ASA 3,877,987 33,091,983

STANDARD CHARTERED PLC 4,227,055 42,695,306

SVENSKA HANDELSBANKEN A SHS 3,051,400 43,596,593

SYMRISE AG 550,050 38,932,727

TAYLOR WIMPEY PLC 18,383,639 42,096,581

THAI OIL PCL FOREIGN 17,501,700 40,701,628

TREVI FINANZIARIA INDUSTRIAL 7,602,219 5,821,619

UNITED OVERSEAS BANK LTD 2,546,423 42,768,733

VINCI SA 498,100 42,480,773

WORLEYPARSONS LTD 2,880,600 24,807,466

Pear Tree Polaris Foreign Value Fund

6/30/17

YARA INTERNATIONAL ASA 1,183,300 44,287,516

BANCOLOMBIA S.A. SPONS ADR 935,300 41,667,615

BHP BILLITON PLC ADR 1,502,300 46,210,748

INFOSYS LTD SP ADR 2,815,292 42,285,686

SBERBANK PJSC SPONSORED ADR 1,355,000 14,024,250

TEVA PHARMACEUTICAL SP ADR 1,215,660 40,384,225

1,935,659,098

SSC GOVERNMENT MM GVMXX 193,389,369 193,389,369

CANADIAN DOLLAR 15,776,727 12,152,303

EURO CURRENCY 0 0

POUND STERLING 9,195,063 11,949,897

24,102,200

Other Assets - Liabilities (145,739,305)


Total Net Assets 2,007,365,576


Investors should read the prospectus carefully before investing because it contains more

complete information on the Pear Tree Funds’ investment objectives, risks, charges and

expenses. Please consider this information carefully. For a prospectus and other information,

visit www.peartreefunds.com or call (800) 326-2151. The Portfolio is actively managed and

holdings are subject to change without notice and may not represent current or future portfolio

composition.




Securities and Exchange Commission (SEC) presentation requirements. Therefore, it differs from

that in the complete statement of investments in the annual and semiannual report to

shareholders filed with the SEC on Form N-CSR, and the complete statement of investments

provided in the first and third quarter SEC Form N-Q filings for each fiscal year. Forms N-CSR and

N-Q for the Fund are available on the SEC website at www.sec.gov.

The portfolio data is for information only. It does not constitute a recommendation or an offer for

a particular security or fund. Reference to specific securities or holdings should not be considered


Pear Tree Polaris Foreign Value Small Cap Fund

6/30/17


ABG SUNDAL COLLIER HOLDING 4,580,388 2,935,533

AMVIG HOLDINGS LTD 7,728,000 2,376,018

ARCADIS NV 867,983 15,676,021

ASALEO CARE LTD 6,268,600 7,072,850

BBA AVIATION PLC 3,639,296 14,538,871

BONDUELLE SCA 108,700 4,071,449

BORREGAARD ASA 645,100 7,930,027

CARILLION PLC 5,197,767 12,618,366

CHINA HONGXING SPORTS LTD 10,258,400 74,523

CHONG HONG CONSTRUCTION CO 2,450,755 5,534,743

CHUGOKU MARINE PAINTS LTD 755,000 5,803,817

CLARKSON PLC 98,009 3,217,427

CONVIVIALITY PLC 1,931,100 7,729,741

CREST NICHOLSON HOLDINGS 1,854,900 12,619,630

DAICEL CORP 871,700 10,834,689

DE LONGHI SPA 436,289 13,662,786

DFDS A/S 242,390 12,905,988

DUNI AB 210,701 3,076,519

EGYPT KUWAIT HOLDING CO SAE 4,081,125 2,611,920

ELIS SA 603,100 13,807,058

EQUATORIAL ENERGIA SA ORD 630,137 10,327,084

FJORD1 AS 1,448,539 5,549,395

FREENET AG 459,400 14,640,809

GALLIFORD TRY PLC 868,728 13,107,669

GLANBIA PLC 573,000 11,198,661

GO AHEAD GROUP PLC 449,100 10,266,404

HALFORDS GROUP PLC 2,789,069 12,396,378

HANA MICROELECTRONICS FOREIG 6,330,180 9,363,896

HOLTEK SEMICONDUCTOR INC 3,928,500 7,361,095

HUAKU DEVELOPMENT CO LTD 2,410,100 5,561,769

IBJ LEASING CO LTD 588,700 14,131,524

IFG GROUP PLC 1,286,085 2,678,634

IPSOS 161,067 6,038,413

KELLER GROUP PLC 644,600 7,355,196

KINEPOLIS 83,473 4,629,810

KRBL LTD 646,753 3,782,211

LANCASHIRE HOLDINGS LTD 1,428,930 12,934,258

LIC HOUSING FINANCE LTD 1,090,800 12,555,486

LOOMIS AB B 392,756 14,051,927

MANILA WATER COMPANY 5,344,270 3,288,537

NIHON HOUSE HOLDINGS CO LTD 1,581,900 7,445,394

NIIT TECHNOLOGIES LTD 536,475 4,788,955

NOLATO AB B SHS 93,100 3,490,836

PRIMA MEAT PACKERS LTD 3,358,000 19,718,671

PROGRAMMED MAINTENANCE SERV 4,077,692 5,837,136

QSC AG 1,251,100 2,484,404


6/30/17

RATCHABURI ELEC GEN HODG FOR 5,606,300 8,581,913

REDES ENERGETICAS NACIONAIS 2,313,900 7,238,266

RESTAURANT GROUP PLC 835,700 3,556,896

SAMSON HOLDING LTD 49,999,800 4,099,394

SEMPERIT AG HOLDING 100,500 2,929,327

SHANGHAI MECHANICAL AND EL B 4,222,406 8,609,486

SHUI ON LAND LTD 29,464,500 7,133,987

SIXT SE 224,525 13,560,179

SOUTH INDIAN BANK LTD 22,518,201 9,684,873

SPAREBANK 1 NORD NORGE 525,196 3,557,113

SPAREBANK 1 OESTLANDET 356,585 3,351,383

SPAREBANK 1 SMN 398,865 3,415,531

SPAREBANK 1 SR BANK ASA 384,826 3,283,831

SPOTLESS GROUP HOLDINGS LTD 15,436,700 13,625,702

TAIWAN UNION TECHNOLOGY CORP 7,625,000 13,986,686

TEXWINCA HOLDINGS LTD 10,914,200 6,627,377

THAI UNION GROUP PCL F 14,654,496 9,102,439

THANACHART CAPITAL FOREIGN 6,805,400 9,215,437

UDG HEALTHCARE PLC 1,310,785 14,752,268

UNIPRES CORP 601,300 13,353,306

VITEC GROUP PLC/THE 251,797 3,341,071

VST HOLDINGS LTD 8,003,360 2,419,668

VT HOLDINGS CO LTD 1,159,000 5,712,763

VTECH HOLDINGS LTD 1,005,400 15,932,357

WETHERSPOON (J.D.) PLC 965,600 12,241,481

WORLEYPARSONS LTD 1,912,500 16,470,276

WT MICROELECTRONICS CO LTD 3,992,240 5,912,242

XINHUA WINSHARE PUBLISHING H 7,766,500 6,516,856

YAGEO CORPORATION 2,680,800 9,341,381

DRAEGERWERK AG PREF 164,262 17,267,314

638,903,330

SSC GOVERNMENT MM GVMXX 28,890,038 28,890,038

EURO CURRENCY 1 1

JAPANESE YEN 12,088,800 107,556

POUND STERLING 2 3

107,560

Other Assets - Liabilities 1,664,057





6/30/17

Investors should read the prospectus carefully before investing because it contains more

complete information on the Pear Tree Funds’ investment objectives, risks, charges and

expenses. Please consider this information carefully. For a prospectus and other information,

visit www.peartreefunds.com or call (800) 326-2151. The Portfolio is actively managed and

holdings are subject to change without notice and may not represent current or future portfolio

composition.




Securities and Exchange Commission (SEC) presentation requirements. Therefore, it differs from

that in the complete statement of investments in the annual and semiannual report to

shareholders filed with the SEC on Form N-CSR, and the complete statement of investments

provided in the first and third quarter SEC Form N-Q filings for each fiscal year. Forms N-CSR and N-

Q for the Fund are available on the SEC website at www.sec.gov.

The portfolio data is for information only. It does not constitute a recommendation or an offer for

a particular security or fund. Reference to specific securities or holdings should not be considered


Pear Tree PanAgora Risk Parity Fund

6/30/17


AAC TECHNOLOGIES HOLDINGS IN 6,500 81,271

ABOITIZ EQUITY VENTURES INC 137,430 207,398

ABOITIZ POWER CORP 471,200 363,252

ABU DHABI COMMERCIAL BANK 71,436 136,335

ADARO ENERGY TBK PT 1,385,800 164,289

ADVANCED INFO SERVICE FOR RG 32,700 170,864

AGUAS ANDINAS SA A 226,697 133,027

AIRPORTS OF THAILAND PCL FOR 113,000 157,175

AKR CORPORINDO TBK PT 423,500 207,341

ALDAR PROPERTIES PJSC 219,124 137,212

ALFA S.A.B. A 80,500 114,674

ALIBABA HEALTH INFORMATION T 112,000 53,374

ALLIANCE FINANCIAL GROUP BHD 195,800 175,609

ALLIANCE GLOBAL GROUP INC 553,900 156,971

ALROSA PJSC 124,100 181,546

AMMB HOLDINGS BHD 165,000 187,576

ANADOLU EFES BIRACILIK VE 15,911 98,791

ANHUI CONCH CEMENT CO LTD H 43,000 149,558

APOLLO HOSPITALS ENTERPRISE 6,241 122,923

ARCELIK A.S. 24,815 183,846

ASIA CEMENT CORP 92,808 79,628

ASIA PACIFIC TELECOM CO LTD 401,000 144,344

ASPEN PHARMACARE HOLDINGS LT 4,802 105,271

ASTRA INTERNATIONAL TBK PT 346,700 232,174

ASTRO MALAYSIA HOLDINGS BHD 298,500 175,930

AXIATA GROUP BERHAD 78,200 87,989

AYALA CORPORATION 8,000 134,760

AYALA LAND INC 203,000 159,914

BAJAJ FINSERV LTD 1,472 93,533

BANCO DE CHILE 1,280,282 167,855

BANCO DE CREDITO E INVERSION 2,321 129,940

BANCO DO BRASIL S.A. 13,600 110,250

BANGKOK DUSIT MED SERVICE F 257,800 145,710

BANGKOK EXPRESSWAY AND METRO 591,100 129,635

BANK CENTRAL ASIA TBK PT 95,600 130,192

BANK OF COMMUNICATIONS CO H 40,000 28,235

BANK OF THE PHILIPPINE ISLAN 78,016 160,794

BANK PEKAO SA 4,896 164,842

BARWA REAL ESTATE CO 20,864 184,108

BDO UNIBANK INC 33,224 81,644

BEC WORLD PCL FOREIGN 176,500 109,111

BEIJING ENTERPRISES HLDGS 25,500 122,992

BERJAYA SPORTS TOTO BHD 181,635 107,052

BHARAT HEAVY ELECTRICALS 46,739 97,835

BHARTI AIRTEL LTD FOREIGN 15,428 90,963

BHARTI INFRATEL LTD 24,442 141,424


6/30/17

BIDVEST GROUP LTD 14,289 171,932

BIM BIRLESIK MAGAZALAR AS 7,186 133,301

BRF SA 11,700 138,732

BTS GROUP HOLDINGS PCL FORGN 498,100 124,635

BUMRUNGRAD HOSPITAL FOREIGN 32,200 162,564

BYD CO LTD H 14,000 85,908

CCC SA 2,574 156,244

CCR SA 11,400 58,277

CELLTRION INC 852 85,710

CEMENTOS ARGOS SA 29,769 115,510

CENCOSUD SA 65,108 173,373

CENTRAL PATTANA PUB CO FOREI 51,100 104,171

CEZ AS 10,798 187,576

CHAROEN POKPHAND FOOD FORGN 176,600 128,928

CHINA AIRLINES LTD 464,000 140,786

CHINA COAL ENERGY CO H 284,000 137,525

CHINA COMMUNICATIONS CONST H 15,000 19,331

CHINA COMMUNICATIONS SERVI H 350,000 201,768

CHINA CONSTRUCTION BANK H 157,000 121,682

CHINA DEVELOPMENT FINANCIAL 220,000 63,859

CHINA HUISHAN DAIRY HOLDINGS 208,000 -

CHINA JINMAO HOLDINGS GROUP 50,000 20,625

CHINA MENGNIU DAIRY CO 78,000 152,882

CHINA MERCHANTS PORT HOLDING 6,000 16,641

CHINA MOBILE LTD 18,500 196,352

CHINA NATIONAL BUILDING MA H 200,000 118,883

CHINA PACIFIC INSURANCE GR H 10,800 44,135

CHINA PETROLEUM + CHEMICAL H 212,000 165,396

CHINA SHENHUA ENERGY CO H 32,000 71,248

CHINA STEEL CORP 114,208 92,921

CHINA TAIPING INSURANCE HOLD 7,400 18,751

CHINA TELECOM CORP LTD H 362,000 172,050

CHONGQING CHANGAN AUTOMOBI B 57,000 75,211

CIELO SA 27,571 205,159

CIMB GROUP HOLDINGS BHD 77,700 119,103

COAL INDIA LTD 32,375 122,463

COCA COLA ICECEK AS 9,495 109,000

COLBUN SA 557,708 119,345

COMMERCIAL BANK QSC 19,617 162,653

COMMERCIAL INTERNATIONAL BAN 47,530 209,636

CP ALL PCL FOREIGN 102,100 188,601

CREDICORP LTD 1,061 190,333

CYFROWY POLSAT SA 39,652 263,905

DABUR INDIA LTD 42,635 192,208

DAELIM INDUSTRIAL CO LTD 1,154 89,766

DAMAC PROPERTIES DUBAI CO 191,432 164,693

DELTA ELECTRONICS THAI FORGN 82,500 210,682


6/30/17

DISCOVERY LTD 14,321 139,883

DMCI HOLDINGS INC 668,550 186,812

DOHA BANK QSC 28,307 235,866

DONGBU INSURANCE CO LTD 2,011 119,519

DONGFENG MOTOR GRP CO LTD H 114,000 134,796

DP WORLD LTD 21,762 455,261

DUBAI ISLAMIC BANK 103,127 160,037

DXB ENTERTAINMENTS PJSC 2,120,733 436,497

ECOPETROL SA 533,040 241,069

EFG HERMES HOLDING SAE 149,120 198,744

EL PUERTO DE LIVERPOOL C1 25,310 200,660

ELECTRICITY GEN PUB CO FOR R 25,100 158,122

EMAAR MALLS PJSC 225,116 154,447

EMAAR PROPERTIES PJSC 57,150 121,051

EMIRATES TELECOM GROUP CO 147,835 696,300

EMPRESA NACIONAL DE TELECOM 23,218 252,518

EMPRESAS CMPC SA 87,774 210,316

EMPRESAS COPEC SA 23,802 260,591

ENERGY DEVELOPMENT CORP 2,447,100 293,400

ENGIE BRASIL ENERGIA SA 1,900 19,495

EREGLI DEMIR VE CELIK FABRIK 97,857 196,131

EUROCASH SA 30,896 258,390

EVA AIRWAYS CORP 260,813 129,035

EVERGREEN MARINE CORP LTD 181,000 91,928

EXXARO RESOURCES LTD 19,049 135,272

EZDAN HOLDING GROUP 21,804 74,995

FAR EASTERN NEW CENTURY CORP 99,473 80,932

FAR EASTONE TELECOMM CO LTD 64,000 163,051

FF GROUP 6,639 162,143

FIRST ABU DHABI BANK PJSC 87,062 248,881

FIRST FINANCIAL HOLDING CO 270,357 180,860

FORD OTOMOTIV SANAYI AS 16,262 198,611

FORMOSA CHEMICALS + FIBRE 62,330 195,678

FORMOSA PETROCHEMICAL CORP 83,000 286,489

FORMOSA PLASTICS CORP 32,480 98,978

FUBON FINANCIAL HOLDING CO 87,000 138,565

GAIL INDIA LTD 14,130 79,135

GCL POLY ENERGY HOLDINGS LTD 648,000 70,561

GENER S.A. 290,095 102,254

GENTERA SAB DE CV 153,500 231,317

GENTING BHD 70,800 155,202

GLOBAL TELECOM HOLDING 675,664 255,425

GLOBE TELECOM INC 7,640 310,082

GLOW ENERGY PCL FOREIGN 87,300 202,381

GRUPA AZOTY SA 6,229 106,374

GRUPA LOTOS SA 16,330 224,682

GRUPO AEROPORT DEL SURESTE B 6,905 146,238


6/30/17

GRUPO ARGOS SA 27,953 189,994

GRUPO CARSO SAB DE CV SER A1 18,200 77,205

GRUPO FIN SANTANDER B 67,800 131,727

GRUPO FINANCIERO BANORTE O 21,100 134,412

GRUPO FINANCIERO INBURSA O 64,100 109,822

GRUPO LALA SAB DE CV 101,900 187,551

GRUPO MEXICO SAB DE CV SER B 50,700 143,016

GS HOLDINGS 2,228 132,806

GT CAPITAL HOLDINGS INC 5,230 125,412

GUDANG GARAM TBK PT 24,900 146,289

HANA FINANCIAL GROUP 1,389 54,934

HANERGY THIN FILM POWER GROU 36,000 -

HANMI PHARM CO LTD 176 57,377

HARTALEGA HOLDINGS BHD 116,700 200,633

HCL TECHNOLOGIES LTD 14,351 189,030

HELLENIC TELECOMMUN ORGANIZA 15,732 189,237

HINDUSTAN UNILEVER LTD 8,397 140,302

HM SAMPOERNA TBK PT 365,000 105,166

HOME PRODUCT CENTER PCL FOR 505,419 142,833

HONG LEONG BANK BERHAD 59,500 217,062

HOTEL SHILLA CO LTD 2,435 121,521

HOUSING DEVELOPMENT FINANCE 3,730 93,017

HYPERMARCAS SA 19,300 162,295

HYUNDAI MARINE + FIRE INS CO 4,958 170,517

HYUNDAI WIA CORP 1,684 102,734

IDEA CELLULAR LTD 55,898 73,767

IHH HEALTHCARE BHD 220,400 295,226

IMPERIAL HOLDINGS LTD 4,233 52,039

IND + COMM BK OF CHINA H 195,000 131,649

INDIABULLS HOUSING FINANCE L 4,642 77,723

INDOCEMENT TUNGGAL PRAKARSA 150,200 207,930

INDOFOOD CBP SUKSES MAKMUR T 173,400 114,494

INDOFOOD SUKSES MAKMUR TBK P 169,300 109,246

INDORAMA VENTURES FOREIGN 117,000 130,880

INDUSTRIAL BANK OF KOREA 12,888 160,516

INDUSTRIAS PENOLES SAB DE CV 5,970 135,572

INDUSTRIES QATAR 18,816 490,910

INFRAESTRUCTURA ENERGETICA N 68,900 368,699

INTER RAO UES PJSC 2,999,000 193,485

INTERCONEXION ELECTRICA SA 46,282 202,335

INTL CONTAINER TERM SVCS INC 101,840 197,383

ITC LTD 43,137 215,560

JASA MARGA (PERSERO) TBK PT 441,200 177,109

JG SUMMIT HOLDINGS INC 112,940 181,295

JIANGXI COPPER CO LTD H 112,000 183,941

JOLLIBEE FOODS CORP 112,010 452,835

JUMBO SA 7,684 140,310


6/30/17

KAKAO CORP 1,201 106,543

KALBE FARMA TBK PT 2,372,600 289,287

KANGWON LAND INC 4,846 147,606

KASIKORNBANK PCL FOREIGN 14,900 87,505

KOC HOLDING AS 20,318 93,460

KOMERCNI BANKA AS 5,748 229,807

KOREA AEROSPACE INDUSTRIES 290 14,447

KOREA ELECTRIC POWER CORP 6,395 228,044

KOREA GAS CORPORATION 4,623 214,957

KOREA ZINC CO LTD 418 166,594

KROTON EDUCACIONAL SA 15,700 70,618

KRUNG THAI BANK PUB CO FOREI 134,200 74,270

KUMHO PETROCHEMICAL CO LTD 357 22,934

LAFARGE MALAYSIA BHD 46,700 60,379

LARSEN + TOUBRO LTD 7,009 182,909

LATAM AIRLINES GROUP SA 17,862 198,707

LG INNOTEK CO LTD 657 94,747

LG UPLUS CORP 13,220 180,249

LIFE HEALTHCARE GROUP HOLDIN 46,623 91,315

LOCALIZA RENT A CAR 14,105 192,635

LOJAS AMERICANAS SA 13,650 50,166

LOJAS RENNER S.A. 7,480 61,950

LPP SA 117 225,686

MAHINDRA + MAHINDRA FIN SECS 17,100 91,800

MARICO LTD 15,237 73,807

MASRAF AL RAYAN 10,865 117,246

MASSMART HOLDINGS LTD 5,100 41,084

MATAHARI DEPARTMENT STORE TB 158,400 168,473

MEDIA NUSANTARA CITRA TBK PT 1,054,800 145,626

MEGAWORLD CORP 1,381,000 117,683

METRO PACIFIC INVESTMENTS CO 978,900 123,963

METROPOLITAN BANK + TRUST 61,658 106,918

MEXICHEM SAB DE CV 46,638 125,417

MINOR INTERNATIONAL PCL FOR 114,190 135,300

MIRAE ASSET DAEWOO CO LTD 8,361 80,749

MOL HUNGARIAN OIL AND GAS PL 2,764 216,636

MONDI LTD 5,386 139,463

MONETA MONEY BANK AS 51,081 170,781

MOSCOW EXCHANGE MICEX RTS PJ 117,750 209,097

MR PRICE GROUP LTD 3,994 47,576

MTN GROUP LTD 8,028 69,943

NASPERS LTD N SHS 446 86,671

NAVER CORP 102 74,707

NCSOFT CORP 330 109,457

NESTLE INDIA LTD 659 68,808

NETCARE LTD 49,895 98,028

NTPC LTD 75,599 186,022


6/30/17

O2 CZECH REPUBLIC AS 8,560 101,362

OBI PHARMA INC 16,000 126,759

ODONTOPREV S.A. 23,900 84,222

OOREDOO QSC 12,131 304,568

OPAP SA 14,887 168,199

ORANGE POLSKA SA 207,094 286,614

OTP BANK PLC 4,484 149,851

PERUSAHAAN GAS NEGARA PERSER 1,075,300 181,536

PETKIM PETROKIMYA HOLDING AS 117,588 202,582

PETRONAS CHEMICALS GROUP BHD 180,700 298,876

PETRONAS DAGANGAN BHD 26,900 151,023

PETRONAS GAS BHD 46,700 201,698

PGE SA 55,048 179,845

PICK N PAY STORES LTD 30,164 135,915

PIONEER FOODS GROUP LTD 5,782 59,801

PIRAMAL ENTERPRISES LTD 3,581 154,572

PLDT INC 6,021 214,541

POLSKI KONCERN NAFTOWY ORLEN 7,790 235,169

POLSKIE GORNICTWO NAFTOWE I 104,320 177,868

POU CHEN 97,000 134,244

PPB GROUP BERHAD 55,100 220,264

PRESIDENT CHAIN STORE CORP 32,000 287,705

PROMOTORA Y OPERADORA DE INF 10,285 123,355

PTT GLOBAL CHEMICAL PCL FOR 68,800 138,734

PUBLIC BANK BERHAD 40,500 191,714

QATAR ELECTRICITY + WATER CO 7,498 388,993

QATAR GAS TRANSPORT(NAKILAT) 125,378 583,663

QATAR INSURANCE CO 10,599 195,162

QATAR ISLAMIC BANK 5,324 134,540

QATAR NATIONAL BANK 4,700 163,070

QUALICORP SA 10,400 90,286

RAND MERCHANT INVESTMENT HOL 30,949 92,141

RICHTER GEDEON NYRT 10,901 284,476

ROBINSON PCL FOREIGN 40,400 69,276

ROBINSONS LAND CO 228,900 110,004

ROSTELECOM PJSC 128,730 155,094

RUSHYDRO PJSC 15,102,000 202,294

S OIL CORP 1,916 158,753

S.A.C.I. FALABELLA 34,029 279,729

SAMSUNG C+T CORP 196 25,353

SAMSUNG ELECTRO MECHANICS CO 2,124 189,353

SAPPI LIMITED 17,776 118,210

SAPURA ENERGY BHD 229,400 84,970

SASOL LTD 3,783 105,868

SBERBANK OF RUSSIA PJSC 47,290 116,772

SEMEN INDONESIA PERSERO TBK 247,300 185,556

SEMICONDUCTOR MANUFACTURING 73,000 84,634


6/30/17

SHANDONG WEIGAO GP MEDICAL H 124,000 97,376

SHANGHAI LUJIAZUI FIN+TRAD B 19,200 30,720

SHINHAN FINANCIAL GROUP LTD 1,180 50,845

SHOPRITE HOLDINGS LTD 4,380 66,682

SHRIRAM TRANSPORT 5,000 77,362

SIAM CEMENT PUB CO FOR REG 10,350 153,559

SIAM COMMERCIAL BANK FOREIGN 23,000 105,284

SIEMENS LTD 8,506 175,548

SINO OCEAN GROUP HOLDING LTD 49,000 23,979

SINOPAC FINANCIAL HOLDINGS 214,363 65,535

SINOPEC SHANGHAI PETROCHEM H 169,000 90,497

SK HYNIX INC 1,486 87,538

SK INNOVATION CO LTD 1,076 149,059

SM INVESTMENTS CORP 13,677 217,650

SM PRIME HOLDINGS INC 176,800 115,624

SOHO CHINA LTD 31,000 15,290

SOUTHERN COPPER CORP 4,615 159,817

SPAR GROUP LIMITED/THE 5,801 68,263

STANDARD FOODS CORP 63,595 170,799

STEINHOFF INTERNATIONAL H NV 7,219 36,960

SUN ART RETAIL GROUP LTD 154,000 122,711

SURYA CITRA MEDIA PT TBK 755,400 146,801

SYNNEX TECHNOLOGY INTL CORP 125,900 141,131

SYNTHOS SA 113,546 148,568

TAIMED BIOLOGICS INC 20,000 121,302

TAISHIN FINANCIAL HOLDING 162,928 74,180

TAIWAN COOPERATIVE FINANCIAL 332,826 176,698

TAIWAN FERTILIZER CO LTD 142,000 188,820

TAIWAN MOBILE CO LTD 46,000 173,143

TATA CONSULTANCY SVCS LTD 2,375 86,751

TAURON POLSKA ENERGIA SA 297,143 286,986

TAV HAVALIMANLARI HOLDING AS 26,737 143,433

TECH MAHINDRA LTD 12,217 72,390

TECO ELECTRIC + MACHINERY 105,000 100,962

TELEKOM MALAYSIA BHD 72,600 112,469

TELKOM SA SOC LTD 15,855 74,516

TENAGA NASIONAL BHD 53,400 175,900

THAI OIL PCL FOREIGN 39,600 92,093

THAI UNION GROUP PCL F 241,600 150,067

TIGER BRANDS LTD 2,856 80,231

TITAN CEMENT CO. S.A. 9,850 278,447

TMB BANK PUBLIC CORP FOREIGN 1,274,600 86,299

TOFAS TURK OTOMOBIL FABRIKA 24,383 200,332

TOWER BERSAMA INFRASTRUCTURE 478,700 244,244

TRUE CORP PCL FOREIGN 514,289 93,865

TRUWORTHS INTERNATIONAL LTD 9,347 51,031

TSINGTAO BREWERY CO LTD H 36,000 159,339


6/30/17

TUPRAS TURKIYE PETROL RAFINE 9,939 285,949

TURK HAVA YOLLARI AO 92,042 210,643

TURK SISE VE CAM FABRIKALARI 132,214 172,902

TURK TELEKOMUNIKASYON AS 94,130 166,985

TURKCELL ILETISIM HIZMET AS 47,032 154,835

ULKER BISKUVI SANAYI 24,756 156,243

ULTRAPAR PARTICIPACOES SA 3,600 84,415

UNI PRESIDENT ENTERPRISES CO 169,339 339,569

UNILEVER INDONESIA TBK PT 32,200 117,904

UNITED SPIRITS LTD 1,879 69,945

UNITED TRACTORS TBK PT 127,500 262,606

UNIVERSAL ROBINA CORP 135,030 435,917

VALE SA 11,600 101,756

VODACOM GROUP LTD 8,778 110,105

VTB BANK PJSC 238,070,000 256,728

WANT WANT CHINA HOLDINGS LTD 254,000 171,481

WASKITA KARYA PERSERO TBK PT 963,100 167,653

WEG SA 9,780 52,362

WIPRO LTD 24,000 96,278

WISTRON CORP 93,741 95,374

XL AXIATA TBK PT 721,600 184,630

YANZHOU COAL MINING CO H 176,000 157,827

YTL CORP BHD 336,100 114,313

YTL POWER INTERNATIONAL BHD 574,200 193,957

YUANTA FINANCIAL HOLDING CO 156,660 69,009

YUHAN CORP 459 98,688

YULON MOTOR COMPANY 185,000 166,026

ZHEJIANG EXPRESSWAY CO H 114,000 148,962

ZHEN DING TECHNOLOGY HOLDING 34,000 80,585

AIRPORTS OF THAILAND PC NVDR 39,000 54,246

AMERICA MOVIL SPN ADR CL L 18,222 290,094

ANGLOGOLD ASHANTI SPON ADR 7,444 72,356

BANCO SANTANDER CHILE ADR 7,218 183,409

BANGKOK BANK PUBLIC CO NVDR 14,700 80,056

BANGKOK DUSIT MED SERVI NVDR 223,900 126,549

BEC WORLD PUBLIC CO LTD NVDR 135,500 83,765

BERLI JUCKER PUBLIC CO NVDR 71,300 100,223

BTS GROUP HOLDINGS PCL NVDR 455,000 113,850

BUMRUNGRAD HOSPITAL PCL NVDR 12,000 60,583

CEMEX SAB SPONS ADR PART CER 14,620 137,720

CENTRAL PATTANA PCL NVDR 36,000 73,388

CHUNGHWA TELECOM LT SPON ADR 4,621 162,752

CIA CERVECERIAS UNI SPON ADR 7,820 205,197

ELECTRICITY GENERA PCL NVDR 15,900 100,165

EMBRAER SA SPON ADR 3,663 66,776

ENEL AMERICAS SA ADR 11,249 106,078

ENEL CHILE SA 18,822 103,521


6/30/17

ENEL GENERACION CHILE SA ADR 3,670 83,089

FOMENTO ECONOMICO MEX SP ADR 832 81,819

GRUPO AEROPORTUARIO PAC ADR 1,490 167,327

GRUPO TELEVISA SA SPON ADR 7,161 174,514

INFOSYS LTD SP ADR 6,000 90,120

ITAU CORPBANCA 9,996 133,047

KASIKORNBANK PCL NVDR 9,000 52,591

KCE ELECTRONICS NVDR 58,100 185,571

KRUNG THAI BANK NVDR 48,200 26,675

MAGNIT PJSC SPON GDR REGS 8,607 292,638

MINOR INTERNATIONAL PCL NVDR 14,400 17,062

MMC NORILSK NICKEL PJSC ADR 12,686 175,067

MOBILE TELESYSTEMS SP ADR 19,024 159,421

NOVATEK PJSC SPONS GDR REG S 776 86,446

PETROCHINA CO LTD ADR 2,193 134,387

PHOSAGRO PJSC GDR REG S 19,230 254,798

QUIMICA Y MINERA CHIL SP ADR 4,793 158,265

ROBINSON PCL NVDR 25,100 43,040

SEVERSTAL GDR REG S 13,374 175,467

SIAM COMMERCIAL BANK P NVDR 23,500 107,573

SISTEMA PJSC REG S SPONS GDR 40,009 167,238

SK TELECOM CO LTD SPON ADR 6,435 165,186

TAIWAN SEMICONDUCTOR SP ADR 4,357 152,321

TELEFONICA BRASIL ADR 5,751 77,581

TELEKOMUNIK INDONESIA SP ADR 6,372 214,545

THAI OIL PCL NVDR 26,000 60,465

THAI UNION GROUP PCL NVDR 121,400 75,406

TMB BANK PCL NVDR 933,900 63,231

TRUE CORP PCL NVDR 224,800 41,029

BANCO BRADESCO SA PREF 4,501 38,327

EMBOTELLADORA ANDINA PREF B 38,713 164,157

GRUPO AVAL ACCIONES SA PF 495,934 203,972

HYUNDAI MOTOR CO LTD 2ND PRF 1,057 107,626

ITAUSA INVESTIMENTOS ITAU PR 40,619 110,825

LG CHEM LTD PREFERENCE 482 85,097

EMLAK KONUT GAYRIMENKUL YATI 199,402 166,664

FIBRA UNO ADMINISTRACION SA 75,584 143,589

HYPROP INVESTMENTS LTD 2,183 19,461

REDEFINE PROPERTIES LTD 26,601 21,368

INDORAMA VENTURES PCL 1 0

60,802,141

BRAZILIAN REAL 15,861 4,798

CHILEAN PESO 770,098 1,161

COLOMBIAN PESO 51,508,006 16,880

CZECH KORUNA 869 38

EGYPTIAN POUND 1,509,013 83,279


6/30/17

HONG KONG DOLLAR 148,770 19,058

HUNGARIAN FORINT 3,915,099 14,457

INDIAN RUPEE 219,093 3,390

INDONESIAN RUPIAH 317,383,635 23,814

MALAYSIAN RINGGIT 2,925 681

MEXICAN PESO (NEW) 85,375 4,723

NEW TAIWAN DOLLAR 3,458 114

PHILIPPINE PESO 128,644 2,549

POLISH ZLOTY 19,171 5,172

SOUTH AFRICAN RAND 149,248 11,396

SOUTH KOREAN WON 20,363,320 17,798

THAILAND BAHT 18,225 537

TURKISH LIRA 42,277 12,019

UAE DIRHAM 186,097 50,665

272,529

Other Assets - Liabilities (65,495)

Mark to Market (27)






www.peartreefunds.com or call (800) 326-2151. The Portfolio is actively managed and holdings

are subject to change without notice and may not represent current or future portfolio

composition.




Securities and Exchange Commission (SEC) presentation requirements. Therefore, it differs from that

in the complete statement of investments in the annual and semiannual report to shareholders filed

with the SEC on Form N-CSR, and the complete statement of investments provided in the first and

third quarter SEC Form N-Q filings for each fiscal year. Forms N-CSR and N-Q for the Fund are

available on the SEC website at www.sec.gov.




Security Name CUSIP Number Shares/Par Value Base Market ... Holdings.pdf · Form N-CSR, and the...

Documents

Transcript of Security Name CUSIP Number Shares/Par Value Base Market ... Holdings.pdf · Form N-CSR, and the...