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      </invstOrSec>
      <invstOrSec>
        <name>PUBLIC POWER CORP SA</name>
        <lei>213800T9Y5XCOVRZ4Y57</lei>
        <title>PUBLIC POWER CORP SA EUR2.48</title>
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          <isin value="GRS434003000"/>
          <ticker value="PPC"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LEMON TREE HOTELS LTD</name>
        <lei>335800QFBWIUBBCRJN72</lei>
        <title>LEMON TREE HOTELS LTD INR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE970X01018"/>
          <ticker value="LEMONTRE"/>
          <other otherDesc="SEDOL" value="BF2LSQ7"/>
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        <balance>1690916.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NHPC LTD</name>
        <lei>3358003ZPPTGWT595J46</lei>
        <title>NHPC LTD INR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE848E01016"/>
          <ticker value="NHPC"/>
          <other otherDesc="SEDOL" value="B233LP1"/>
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        <balance>1791449.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KINAXIS INC</name>
        <lei>5299009VAZ14K7PFUQ15</lei>
        <title>KINAXIS INC COM NPV</title>
        <cusip>49448Q109</cusip>
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          <isin value="CA49448Q1090"/>
          <ticker value="KXS"/>
          <other otherDesc="SEDOL" value="BN85P68"/>
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        <balance>35941.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.35835000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>IMDEX LTD</name>
        <lei>529900H31NX5KRKXB865</lei>
        <title>IMDEX LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000IMD5"/>
          <ticker value="IMD"/>
          <other otherDesc="SEDOL" value="6462154"/>
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        <currencyConditional curCd="AUD" exchangeRt="1.38898534"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MULTI COMMODITY EXCHANGE OF INDIA LTD</name>
        <lei>254900BTZEPM27IOAM68</lei>
        <title>MULTI COMMODITY EXCHANGE OF INDIA LTD INR2(POST SUBD)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE745G01043"/>
          <ticker value="MCX"/>
          <other otherDesc="SEDOL" value="BNBWQ85"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALS LTD</name>
        <lei>549300RYCQ8DMIO2J661</lei>
        <title>ALS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000ALQ6"/>
          <ticker value="ALQ"/>
          <other otherDesc="SEDOL" value="B86SZR5"/>
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        <balance>314358.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.38898534"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JBCC HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>JBCC HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3746800006"/>
          <ticker value="9889"/>
          <other otherDesc="SEDOL" value="6472959"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MITSUI E&amp;S CO LTD</name>
        <lei>5493007T2YKKWF2NYN82</lei>
        <title>MITSUI E&amp;S CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3891600003"/>
          <ticker value="7003"/>
          <other otherDesc="SEDOL" value="6597380"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALM BRAND A/S</name>
        <lei>549300H4TGLJVZ6VTA48</lei>
        <title>ALM BRAND A/S DKK1</title>
        <cusip>000000000</cusip>
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          <isin value="DK0015250344"/>
          <ticker value="ALMB"/>
          <other otherDesc="SEDOL" value="4350024"/>
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        <currencyConditional curCd="DKK" exchangeRt="6.36715000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CLASSYS INC</name>
        <lei>N/A</lei>
        <title>CLASSYS INC KRW100</title>
        <cusip>000000000</cusip>
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          <isin value="KR7214150005"/>
          <ticker value="214150"/>
          <other otherDesc="SEDOL" value="BWT5WS1"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FUSO CHEMICAL COMPANY LTD</name>
        <lei>N/A</lei>
        <title>FUSO CHEMICAL COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3822600007"/>
          <ticker value="4368"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BUDIMEX SA</name>
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        <title>BUDIMEX SA PLN5.00</title>
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        <assetCat>EC</assetCat>
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        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TAMARACK VALLEY ENERGY LTD</name>
        <lei>549300TLKPX8BE14MH06</lei>
        <title>TAMARACK VALLEY ENERGY LTD COM NPV</title>
        <cusip>87505Y409</cusip>
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          <ticker value="TVE"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ALTIUS MINERALS CORP</name>
        <lei>54930083UJGDUCMJMU61</lei>
        <title>ALTIUS MINERALS CORP COM NPV</title>
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          <ticker value="ALS"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>THK CO LTD</name>
        <lei>N/A</lei>
        <title>THK CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3539250005"/>
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        <fairValLevel>2</fairValLevel>
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        <name>ST PHARM CO LTD</name>
        <lei>N/A</lei>
        <title>ST PHARM CO LTD KRW500</title>
        <cusip>000000000</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>SWISSQUOTE GROUP HOLDING SA</name>
        <lei>549300O3WME82RDPEN66</lei>
        <title>SWISSQUOTE GROUP HOLDING SA CHF0.20 (REGD)</title>
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          <ticker value="SQN"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NIKON CORP</name>
        <lei>549300X7LIS9RFELXJ98</lei>
        <title>NIKON CORP NPV</title>
        <cusip>654111103</cusip>
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          <isin value="JP3657400002"/>
          <ticker value="7731"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>MNC SOLUTION CO LTD</name>
        <lei>N/A</lei>
        <title>MNC SOLUTION CO LTD KRW100</title>
        <cusip>000000000</cusip>
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          <isin value="KR7484870001"/>
          <ticker value="484870"/>
          <other otherDesc="SEDOL" value="BQ819H6"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>HD HYUNDAI MARINE SOLUTION CO LTD</name>
        <lei>988400NV4TGR7O3GJM74</lei>
        <title>HD HYUNDAI MARINE SOLUTION CO LTD KRW500</title>
        <cusip>000000000</cusip>
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          <ticker value="443060"/>
          <other otherDesc="SEDOL" value="BRJRZT4"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>MEBUKI FINANCIAL GROUP INC</name>
        <lei>353800K1RXV3E3JAE812</lei>
        <title>MEBUKI FINANCIAL GROUP INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3117700009"/>
          <ticker value="7167"/>
          <other otherDesc="SEDOL" value="BH0VTS2"/>
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        <balance>1074800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="156.55500000"/>
        <valUSD>8923354.70000000</valUSD>
        <pctVal>2.313632227947</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WIENERBERGER AG</name>
        <lei>529900VXIFBHO0SW2I31</lei>
        <title>WIENERBERGER AG NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AT0000831706"/>
          <ticker value="WIE"/>
          <other otherDesc="SEDOL" value="5699373"/>
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        <balance>46999.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85204277"/>
        <valUSD>1362700.14000000</valUSD>
        <pctVal>0.353318574339</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NORDNET AB</name>
        <lei>549300D6WW5ZTWLZ4C08</lei>
        <title>NORDNET AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0015192067"/>
          <ticker value="SAVE"/>
          <other otherDesc="SEDOL" value="BNDLH43"/>
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        <balance>104913.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.23275000"/>
        <valUSD>3458032.73000000</valUSD>
        <pctVal>0.896592844104</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RINGKJOBING LANDBOBANK A/S</name>
        <lei>2138002M5U5K4OUMVV62</lei>
        <title>RINGKJOBING LANDBOBANK A/S DKK1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DK0060854669"/>
          <ticker value="RILBA"/>
          <other otherDesc="SEDOL" value="BF1KD82"/>
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        <balance>22313.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.36715000"/>
        <valUSD>5575159.11000000</valUSD>
        <pctVal>1.445517770668</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ASPEED TECHNOLOGY INC</name>
        <lei>N/A</lei>
        <title>ASPEED TECHNOLOGY INC TWD10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0005274005"/>
          <ticker value="5274"/>
          <other otherDesc="SEDOL" value="B80VKP3"/>
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        <balance>16000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.68450000"/>
        <valUSD>8601163.72000000</valUSD>
        <pctVal>2.230095098701</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COWELL E HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>COWELL E HOLDINGS INC USD0.004</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG248141163"/>
          <ticker value="1415"/>
          <other otherDesc="SEDOL" value="BWCH5K7"/>
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        <balance>734743.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83250000"/>
        <valUSD>2975274.64000000</valUSD>
        <pctVal>0.771424147702</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SOJITZ CORP</name>
        <lei>5493004SE33MRLPB1W98</lei>
        <title>SOJITZ CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3663900003"/>
          <ticker value="2768"/>
          <other otherDesc="SEDOL" value="6594143"/>
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        <balance>288900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="156.55500000"/>
        <valUSD>10820671.40000000</valUSD>
        <pctVal>2.805565274578</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PER AARSLEFF HOLDING A/S</name>
        <lei>5493008HS8STXVZXYZ63</lei>
        <title>PER AARSLEFF HOLDING A/S SER'B'DKK2</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DK0060700516"/>
          <ticker value="PAALB"/>
          <other otherDesc="SEDOL" value="BYMM001"/>
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        <balance>10314.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.36715000"/>
        <valUSD>1201208.96000000</valUSD>
        <pctVal>0.311447415886</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DIPLOMA PLC</name>
        <lei>2138008OGI7VYG8FGR19</lei>
        <title>DIPLOMA PLC ORD GBP0.05</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0001826634"/>
          <ticker value="DPLM"/>
          <other otherDesc="SEDOL" value="0182663"/>
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        <balance>87808.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.73488884"/>
        <valUSD>8310093.85000000</valUSD>
        <pctVal>2.154626997919</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SOLARIA ENERGIA Y MEDIO AMBIENTE SA</name>
        <lei>959800PM2YJU406K2789</lei>
        <title>SOLARIA ENERGIA Y MEDIO AMBIENTE SA EUR0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ES0165386014"/>
          <ticker value="SLR"/>
          <other otherDesc="SEDOL" value="B1YVKJ4"/>
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        <balance>83668.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.85204277"/>
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        <pctVal>0.618617157278</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PNB HOUSING FINANCE LTD</name>
        <lei>335800K81SPQDQ21HJ97</lei>
        <title>PNB HOUSING FINANCE LTD INR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE572E01012"/>
          <ticker value="PNBHOUSI"/>
          <other otherDesc="SEDOL" value="BD6FGZ6"/>
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        <balance>260526.00000000</balance>
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        <currencyConditional curCd="INR" exchangeRt="94.91375000"/>
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        <pctVal>0.748087537345</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KYOTO FINANCIAL GROUP INC</name>
        <lei>N/A</lei>
        <title>KYOTO FINANCIAL GROUP INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3252200005"/>
          <ticker value="5844"/>
          <other otherDesc="SEDOL" value="BMV4NR2"/>
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        <balance>257900.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="156.55500000"/>
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        <pctVal>1.848304666163</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COWAY CO LTD</name>
        <lei>N/A</lei>
        <title>COWAY CO LTD KRW500</title>
        <cusip>000000000</cusip>
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          <isin value="KR7021240007"/>
          <ticker value="021240"/>
          <other otherDesc="SEDOL" value="6173401"/>
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        <balance>25723.00000000</balance>
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        <currencyConditional curCd="KRW" exchangeRt="1483.20000000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HALMA PLC</name>
        <lei>2138007FRGLUR9KGBT40</lei>
        <title>HALMA PLC ORD GBP0.10</title>
        <cusip>000000000</cusip>
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          <isin value="GB0004052071"/>
          <ticker value="HLMA"/>
          <other otherDesc="SEDOL" value="0405207"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CURY CONSTRUTORA E INCORPORADORA SA</name>
        <lei>N/A</lei>
        <title>CURY CONSTRUTORA E INCORPORADORA SA COM NPV</title>
        <cusip>000000000</cusip>
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          <isin value="BRCURYACNOR3"/>
          <ticker value="CURY3"/>
          <other otherDesc="SEDOL" value="BK93J35"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OR ROYALTIES INC</name>
        <lei>549300TJZTXZMPQ6K004</lei>
        <title>OR ROYALTIES INC COM SHS</title>
        <cusip>68390D106</cusip>
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          <isin value="CA68390D1069"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HOWDEN JOINERY GROUP PLC</name>
        <lei>213800KC1LJOJTY3JP45</lei>
        <title>HOWDEN JOINERY GROUP PLC ORD GBP0.10</title>
        <cusip>000000000</cusip>
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          <isin value="GB0005576813"/>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>DREYFUS GOVERNMENT CASH MANAGEMENT FUNDS</name>
        <lei>5493000Q69I5Q3QZIA91</lei>
        <title>DREYFUS GOVERNMENT CASH MANAGEMENT FUNDS SH BEN INT</title>
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          <ticker value="DGCXX"/>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>KONECRANES OYJ</name>
        <lei>549300EF0CDEQZBMA096</lei>
        <title>KONECRANES OYJ NPV</title>
        <cusip>000000000</cusip>
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          <isin value="FI0009005870"/>
          <ticker value="KCR"/>
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        <assetCat>EC</assetCat>
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        <invCountry>FI</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>ALK ABELLO A/S</name>
        <lei>529900SGCREUZCZ7P020</lei>
        <title>ALK ABELLO A/S SER'B'DKK0.50</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>HARBIN ELECTRIC COMPANY LTD</name>
        <lei>529900QH6Y4U07RU0U61</lei>
        <title>HARBIN ELECTRIC COMPANY LTD 'H'CNY1</title>
        <cusip>000000000</cusip>
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          <isin value="CNE1000003C0"/>
          <ticker value="1133"/>
          <other otherDesc="SEDOL" value="6422761"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>KURITA WATER INDUSTRIES LTD</name>
        <lei>52990086GS2ON69UMX34</lei>
        <title>KURITA WATER INDUSTRIES LTD NPV</title>
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        <fairValLevel>2</fairValLevel>
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        <name>TOROMONT INDUSTRIES LTD</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NABTESCO CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MAX HEALTHCARE INSTITUTE LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JAPAN STEEL WORKS LTD (THE)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BENEFIT SYSTEMS SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>COMET HOLDING AG</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HEADWATER EXPLORATION INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>FAGRON NV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BRUNELLO CUCINELLI SPA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ROYAL UNIBREW A/S</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SWCC CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PRO MEDICUS LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SSAB AB</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FINNING INTERNATIONAL INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>HYOSUNG HEAVY INDUSTRIES CORP</name>
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        <name>360 ONE WAM LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>KANEMATSU CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>BE SEMICONDUCTOR INDUSTRIES NV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SINFONIA TECHNOLOGY COMPANY LTD</name>
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        <balance>68100.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="156.55500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JAPAN ELEVATOR SERVICE HOLDINGS CO LTD</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="JP3389510003"/>
          <ticker value="6544"/>
          <other otherDesc="SEDOL" value="BF0QWT5"/>
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        <balance>535600.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="156.55500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BABCOCK INTERNATIONAL GROUP PLC</name>
        <lei>213800TSKOLX4EU6L377</lei>
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        <cusip>000000000</cusip>
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          <isin value="GB0009697037"/>
          <ticker value="BAB"/>
          <other otherDesc="SEDOL" value="0969703"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AL SYDBANK A/S</name>
        <lei>GP5DT10VX1QRQUKVBK64</lei>
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          <isin value="DK0010311471"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ST. JAMES'S PLACE PLC</name>
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        <title>ST. JAMES'S PLACE PLC ORD GBP0.15</title>
        <cusip>000000000</cusip>
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          <isin value="GB0007669376"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MAIRE SPA</name>
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          <isin value="IT0004931058"/>
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          <other otherDesc="SEDOL" value="BBGTNT7"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TOREX GOLD RESOURCES INC</name>
        <lei>549300QL07027186GQ85</lei>
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          <isin value="CA8910546032"/>
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          <other otherDesc="SEDOL" value="BD2NKY1"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PHARMAESSENTIA CORP</name>
        <lei>54930001GNQLDIFASK68</lei>
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        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DESCARTES SYSTEMS GROUP INC (THE)</name>
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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>AUTO1 GROUP SE</name>
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        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FLSMIDTH &amp; CO. A/S</name>
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        <invCountry>DK</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>WESTPORTS HOLDINGS BHD</name>
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        <cusip>000000000</cusip>
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        <invCountry>MY</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EMBASSY OFFICE PARKS REIT</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EURONEXT NV</name>
        <lei>724500QJ4QSZ3H9QU415</lei>
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        <cusip>000000000</cusip>
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        <invCountry>NL</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>TFI INTERNATIONAL INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>HELIOS TOWERS PLC</name>
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        <cusip>000000000</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DAIEI KANKYO CO LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NEXT VISION STABILIZED SYS LTD</name>
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        <cusip>000000000</cusip>
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        <fairValLevel>2</fairValLevel>
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    <signature>
      <ncom:dateSigned>2026-06-22</ncom:dateSigned>
      <ncom:nameOfApplicant>Manning &amp; Napier Fund, Inc.</ncom:nameOfApplicant>
      <ncom:signature>Jill Peeper</ncom:signature>
      <ncom:signerName>Jill Peeper</ncom:signerName>
      <ncom:title>Principal Financial Officer and Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
