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        <name>Elmos Semiconductor Se</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mani Inc</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Kandenko Co Ltd</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Kinden Corp</name>
        <lei>35380008T6JUN5TU9T34</lei>
        <title>Kinden Corp </title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Kitz Corp</name>
        <lei>N/A</lei>
        <title>Kitz Corporation </title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Maruwa Co Ltd</name>
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        <title>Maruwa Company Ltd. </title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Ridgepost Capital Inc.</name>
        <lei>N/A</lei>
        <title>P10 Inc </title>
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          <isin value="US69376K1060"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Pattern Group Inc.</name>
        <lei>N/A</lei>
        <title>Pattern Group, Inc. </title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Pennant Group Inc</name>
        <lei>5493007H2OYR6BYLDA64</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Perella Weinberg Partners</name>
        <lei>N/A</lei>
        <title>Perella Weinberg Partners </title>
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          <isin value="US71367G1022"/>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Melexis NV</name>
        <lei>549300QRPSGOJRPUFO80</lei>
        <title>Melexis N.V. </title>
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        <invCountry>BE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Power Integrations Inc.</name>
        <lei>54930085LGXSCIHD5W31</lei>
        <title>Power Integrations, Inc. </title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Virbac SA</name>
        <lei>969500QQ1X5XHG649644</lei>
        <title>Virbac S.A.CA </title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Primoris Services Corp.</name>
        <lei>549300UF3OLBJ8D5K349</lei>
        <title>Primoris Services Corporation </title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Red Violet Inc</name>
        <lei>549300T4EGADG881UU63</lei>
        <title>Red Violet, Inc. </title>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>RxSight Inc.</name>
        <lei>N/A</lei>
        <title>RxSight, Inc. </title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Silicon Laboratories, Inc.</name>
        <lei>4PRDF8Q9TDHRVZKZSZ47</lei>
        <title>Silicon Laboratories, Inc. </title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Upwork Inc</name>
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        <title>Upwork, Inc. Class A</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Corporacion Inmobiliaria Vesta S A B De C V</name>
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        <title>Corp Inmobiliaria Vesta S.A.B. de C.V. ADR</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Recordati Industria Chimica e Farmaceutica S.p.A.</name>
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        <title>Recordati Industria Chimica e Farmaceutica SpA </title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Anant Raj Ltd</name>
        <lei>335800J1QMHJ15K7PF47</lei>
        <title>Anant Raj Ltd. </title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Uls Group Inc</name>
        <lei>N/A</lei>
        <title>ULS Group, Inc. </title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Cohort PLC</name>
        <lei>213800WE61C73LZZNW11</lei>
        <title>Cohort plc </title>
        <cusip>G2372R109</cusip>
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        <invCountry>GB</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Riverstone Holding Ltd.</name>
        <lei>N/A</lei>
        <title>Riverstone Holdings Ltd. </title>
        <cusip>Y7302Q105</cusip>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Monotaro CoLtd</name>
        <lei>5299005JUER5ANXWTC33</lei>
        <title>MonotaRO Company Ltd. </title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Asia Commercial Joint Stock Bank</name>
        <lei>5493001VSLUXY7LJS086</lei>
        <title>Asia Commercial Bank JSC </title>
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        <assetCat>EC</assetCat>
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        <invCountry>VN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>DiaSorin S.p.A.</name>
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        <title>DiaSorin SpA </title>
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          <isin value="IT0003492391"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IT</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CVS Group PLC</name>
        <lei>213800J41XDQ2NX48O05</lei>
        <title>CVS Group plc </title>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Jentech Precision Industrial Co., Ltd</name>
        <lei>N/A</lei>
        <title>Jentech Precision Industrial Co., Ltd. </title>
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          <isin value="TW0003653002"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>TW</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Airtac International Group</name>
        <lei>N/A</lei>
        <title>Airtac International Group </title>
        <cusip>G01408106</cusip>
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          <isin value="KYG014081064"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Voltronic Power Technology Corp.</name>
        <lei>N/A</lei>
        <title>Voltronic Power Technology Corporation </title>
        <cusip>Y937BE103</cusip>
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          <isin value="TW0006409006"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Pinnacle Investment Management Group Ltd.</name>
        <lei>N/A</lei>
        <title>Pinnacle Investment Management Group Ltd. </title>
        <cusip>Q75485104</cusip>
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          <isin value="AU000000PNI7"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Insource Co Ltd</name>
        <lei>N/A</lei>
        <title>Insource Company Ltd. </title>
        <cusip>J2467H104</cusip>
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          <isin value="JP3152670000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Rakus Co Ltd.</name>
        <lei>N/A</lei>
        <title>Rakus Company Ltd. </title>
        <cusip>J6S879103</cusip>
        <identifiers>
          <isin value="JP3967170006"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Vitec Software Group AB</name>
        <lei>5493005EB5RV1QHE6H94</lei>
        <title>Vitec Software Group A.B. </title>
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          <isin value="SE0007871363"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>X-FAB Silicon Foundries SE</name>
        <lei>5493003UDPENPUQBJH65</lei>
        <title>X-Fab Silicon Foundries S.E. </title>
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          <isin value="BE0974310428"/>
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        <assetCat>EC</assetCat>
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        <invCountry>BE</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Aritzia Inc</name>
        <lei>549300U83HKFRL1EX527</lei>
        <title>Aritzia, Inc. </title>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AZoom co Ltd.</name>
        <lei>N/A</lei>
        <title>AZOOM Company Ltd. </title>
        <cusip>J03827102</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Japan Elevator Service Hldgs Co Ltd</name>
        <lei>N/A</lei>
        <title>Japan Elevator Service Holdings Company Ltd. </title>
        <cusip>J2S19B100</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Wavestone SA</name>
        <lei>969500GSN25I3B3X6F94</lei>
        <title>Wavestone </title>
        <cusip>F98323102</cusip>
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          <isin value="FR0013357621"/>
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        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Bonesupport Holding Ab</name>
        <lei>549300COLY053IGTLD63</lei>
        <title>BoneSupport Holding AB </title>
        <cusip>W2R933137</cusip>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Thermador Groupe</name>
        <lei>969500SSIGMAGT008F11</lei>
        <title>Thermador Groupe </title>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Dermapharm Holding SE</name>
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        <title>Dermapharm Holding S.E. </title>
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        <invCountry>DE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Regional Sab De Cv</name>
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        <title>Regional S.A.B. de C.V. </title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Silergy Corporation</name>
        <lei>N/A</lei>
        <title>Silergy Corporation </title>
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        <assetCat>EC</assetCat>
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        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Hennge K K</name>
        <lei>N/A</lei>
        <title>Hennge KK </title>
        <cusip>J20457107</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Ewell Co Ltd.</name>
        <lei>N/A</lei>
        <title>eWeLL Company Ltd./JP </title>
        <cusip>J23835101</cusip>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Supriya Lifescience Ltd</name>
        <lei>894500RBVJX1EOJP0Y02</lei>
        <title>Supriya Lifescience Ltd. </title>
        <cusip>Y83141112</cusip>
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          <isin value="INE07RO01027"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Timee Inc.</name>
        <lei>N/A</lei>
        <title>Timee, Inc. </title>
        <cusip>J83432104</cusip>
        <identifiers>
          <isin value="JP3449040009"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Addtech AB</name>
        <lei>549300QZ5U2IDRHPWL60</lei>
        <title>AddTech A.B. </title>
        <cusip>W4260L147</cusip>
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          <isin value="SE0014781795"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Elixirr International Plc</name>
        <lei>213800MKY7OHMVAKW681</lei>
        <title>Elixirr International plc </title>
        <cusip>G3002J103</cusip>
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          <isin value="GB00BLPHTX84"/>
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        <balance>247502.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pollen Street Group Ltd.</name>
        <lei>894500LP94M98N8CY487</lei>
        <title>Pollen Street Group Ltd. </title>
        <cusip>G7151H107</cusip>
        <identifiers>
          <isin value="GG00BMHG0H12"/>
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        <balance>159048.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GG</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SJS Enterprises Ltd.</name>
        <lei>984500E74D93F3F04562</lei>
        <title>SJS Enterprises Ltd. </title>
        <cusip>Y8066B102</cusip>
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          <isin value="INE284S01014"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lagercrantz Group AB</name>
        <lei>5493002L6I4YHANEYR87</lei>
        <title>Lagercrantz Group A.B. </title>
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          <isin value="SE0014990966"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>SE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Shenzhen New Industries Biomedical Engineering Co Ltd.</name>
        <lei>N/A</lei>
        <title>Shenzhen New Industries Biomedical Engineering Company Ltd.</title>
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          <isin value="CNE100003T39"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Ma Financial Group Ltd</name>
        <lei>N/A</lei>
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        <cusip>Q57129100</cusip>
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          <isin value="AU0000156218"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Volution Group PLC</name>
        <lei>213800EPT84EQCDHO768</lei>
        <title>Volution Group plc </title>
        <cusip>G93824103</cusip>
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          <isin value="GB00BN3ZZ526"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Grupo Mateus SA</name>
        <lei>2549009L391XCIGEGQ92</lei>
        <title>Grupo Mateus S.A. </title>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>BR</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Visional Inc.</name>
        <lei>N/A</lei>
        <title>Visional, Inc. </title>
        <cusip>J94590106</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>IMCD NV</name>
        <lei>724500NSJPNFJPDAUP02</lei>
        <title>IMCD N.V. </title>
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        <assetCat>EC</assetCat>
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        <invCountry>NL</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Eurofins Scientific SE</name>
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        <assetCat>EC</assetCat>
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        <invCountry>LU</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Cartrade Tech Ltd</name>
        <lei>984500F5CDO5D86C1326</lei>
        <title>Cartrade Tech Ltd. </title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Vimian Group AB</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Gulf Oil Lubricants Ltd</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Swedencare Ab</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Ipd Group Limited</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>HPSP Co Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Integral Corp.</name>
        <lei>254900LBW5E2GUM0UK59</lei>
        <title>Integral Corporation </title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Qualitas Limited</name>
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        <title>Qualitas Ltd. </title>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Spinneys 1961 Holding PLC</name>
        <lei>N/A</lei>
        <title>Spinneys 1961 Holding plc </title>
        <cusip>M8559F100</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>AE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Marex Group Plc</name>
        <lei>549300DWX0SVICJAL507</lei>
        <title>Marex Group plc </title>
        <cusip>G5S37H101</cusip>
        <identifiers>
          <isin value="GB00BMT7GT62"/>
        </identifiers>
        <balance>129886.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5127899.28000000</valUSD>
        <pctVal>1.328888244420</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HD Hyundai Marine Solution Co  Ltd.</name>
        <lei>988400NV4TGR7O3GJM74</lei>
        <title>HD Hyundai Marine Solution Company Ltd. </title>
        <cusip>Y3820S103</cusip>
        <identifiers>
          <isin value="KR7443060009"/>
        </identifiers>
        <balance>23000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1449.43000000"/>
        <valUSD>2910247.48000000</valUSD>
        <pctVal>0.754186744581</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sanil Electric Co Ltd.</name>
        <lei>988400KW0ZAP6QNYIX16</lei>
        <title>Sanil Electric Company Ltd. </title>
        <cusip>Y7T0PL103</cusip>
        <identifiers>
          <isin value="KR7062040001"/>
        </identifiers>
        <balance>19000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1449.43000000"/>
        <valUSD>1933518.69000000</valUSD>
        <pctVal>0.501068784156</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Asker Healthcare Group AB</name>
        <lei>636700RZEYK9TOWV8F05</lei>
        <title>Asker Healthcare Group A.B. </title>
        <cusip>W0767R108</cusip>
        <identifiers>
          <isin value="SE0024171458"/>
        </identifiers>
        <balance>249635.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="8.90806000"/>
        <valUSD>2103723.98000000</valUSD>
        <pctVal>0.545177257562</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Roko AB</name>
        <lei>549300X76X1DK285JB13</lei>
        <title>Roko A.B. </title>
        <cusip>W72732113</cusip>
        <identifiers>
          <isin value="SE0023950795"/>
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        <balance>10800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="8.90806000"/>
        <valUSD>1933269.42000000</valUSD>
        <pctVal>0.501004186169</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dalba Global Co.Ltd.</name>
        <lei>N/A</lei>
        <title>D'Alba Global Company Ltd. </title>
        <cusip>Y1R6UH108</cusip>
        <identifiers>
          <isin value="KR7483650008"/>
        </identifiers>
        <balance>17872.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1449.43000000"/>
        <valUSD>1985188.66000000</valUSD>
        <pctVal>0.514458987819</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shawbrook Group Plc</name>
        <lei>21380071539WSMTM4410</lei>
        <title>Shawbrook Group plc </title>
        <cusip>G8072S123</cusip>
        <identifiers>
          <isin value="GB00BV9DPV21"/>
        </identifiers>
        <balance>311380.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.73081000"/>
        <valUSD>1994031.83000000</valUSD>
        <pctVal>0.516750683505</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tatton Asset Mgmt Plc</name>
        <lei>213800G2F8I1N7HTVP88</lei>
        <title>Tatton Asset Management plc </title>
        <cusip>G86841106</cusip>
        <identifiers>
          <isin value="GB00BYX1P358"/>
        </identifiers>
        <balance>414803.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.73081000"/>
        <valUSD>3859635.75000000</valUSD>
        <pctVal>1.000219445792</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Redcare Pharmacy N.V</name>
        <lei>529900JK6UXHY1YKZ082</lei>
        <title>Redcare Pharmacy N.V. </title>
        <cusip>N7975Z103</cusip>
        <identifiers>
          <isin value="NL0012044747"/>
        </identifiers>
        <balance>40070.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84320000"/>
        <valUSD>2972460.27000000</valUSD>
        <pctVal>0.770309105956</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Softcat PLC</name>
        <lei>213800N42YZLR9GLVC42</lei>
        <title>Softcat plc </title>
        <cusip>G8251T108</cusip>
        <identifiers>
          <isin value="GB00BYZDVK82"/>
        </identifiers>
        <balance>197867.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.73081000"/>
        <valUSD>3871728.77000000</valUSD>
        <pctVal>1.003353335761</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Accelerant Holdings</name>
        <lei>529900G48AUHCKJ6EU64</lei>
        <title>Accelerant Holdings </title>
        <cusip>G00894108</cusip>
        <identifiers>
          <isin value="KYG008941083"/>
        </identifiers>
        <balance>120997.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1652819.02000000</valUSD>
        <pctVal>0.428325839861</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JFrog Ltd</name>
        <lei>2549002N8E00AY49G567</lei>
        <title>JFrog Ltd. </title>
        <cusip>M6191J100</cusip>
        <identifiers>
          <isin value="IL0011684185"/>
        </identifiers>
        <balance>80318.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4401426.40000000</valUSD>
        <pctVal>1.140623768578</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Elastic NV</name>
        <lei>2549003I48WHHH937I59</lei>
        <title>Elastic N.V. </title>
        <cusip>N14506104</cusip>
        <identifiers>
          <isin value="NL0013056914"/>
        </identifiers>
        <balance>40552.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2673593.36000000</valUSD>
        <pctVal>0.692858145697</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-03-31</ncom:dateSigned>
      <ncom:nameOfApplicant>Grandeur Peak Global Trust</ncom:nameOfApplicant>
      <ncom:signature>Grandeur Peak Global Trust</ncom:signature>
      <ncom:signerName>Sarah Criger</ncom:signerName>
      <ncom:title>VP, Fund Accounting</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
