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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>GoPro, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Littelfuse, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Rapid7, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>MicroVision, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>OPKO Health, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Shattuck Labs, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Tactile Systems Technology, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Ligand Pharmaceuticals Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Quanterix Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Vir Biotechnology, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Orthofix Medical Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Silicon Motion Technology Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Bicycle Therapeutics PLC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Matthews International Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Alector, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Immersion Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Ardelyx, Inc.</name>
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        <name>Neogen Corp.</name>
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        <name>Mercer International Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Prothena Corp. PLC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Accuray Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Cohu, Inc.</name>
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        <title>Cohu, Inc.</title>
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        <name>10x Genomics, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>JOYY Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Enanta Pharmaceuticals, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>OrthoPediatrics Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Lattice Semiconductor Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Innospec Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>MaxLinear, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Tandem Diabetes Care, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Garrett Motion Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Bioceres Crop Solutions Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Omeros Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Axogen, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Millerknoll, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Ironwood Pharmaceuticals, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Turtle Beach Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Rambus Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Qorvo, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Lyft, Inc.</name>
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        <name>Ribbon Communications Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Xencor, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Gogo Inc.</name>
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        <title>Gogo Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>C4 Therapeutics, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Cirrus Logic, Inc.</name>
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        <title>Cirrus Logic, Inc.</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Inogen, Inc.</name>
        <lei>549300J8WJIVTOJ8IH97</lei>
        <title>Inogen, Inc.</title>
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        <name>Sleep Number Corp.</name>
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        <name>Gentherm Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Agora, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Jazz Pharmaceuticals PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Merit Medical Systems, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>BRP Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Geron Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Cerus Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Allogene Therapeutics, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Universal Display Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>AXT, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Newell Brands Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>XOMA Royalty Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Standard BioTools Inc.</name>
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        <name>DENTSPLY SIRONA Inc.</name>
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        <name>OmniAb, Inc.</name>
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        <name>iHeartMedia, Inc.</name>
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        <name>InterDigital, Inc.</name>
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        <name>Iovance Biotherapeutics, Inc.</name>
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        <name>Vistance Networks, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>SI-BONE, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>OraSure Technologies, Inc.</name>
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        <title>OraSure Technologies, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Bandwidth Inc.</name>
        <lei>549300QC70JB7MUGXM66</lei>
        <title>Bandwidth Inc., Class A</title>
        <cusip>05988J103</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Aldeyra Therapeutics, Inc.</name>
        <lei>529900HGKY864E4Y9014</lei>
        <title>Aldeyra Therapeutics, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Spero Therapeutics, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Enlivex Ltd.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GSI Technology, Inc.</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>nLight, Inc.</name>
        <lei>N/A</lei>
        <title>nLight, Inc.</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Skyworks Solutions, Inc.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Axcelis Technologies, Inc.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SIGA Technologies, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Theravance Biopharma Inc.</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Viavi Solutions Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Synaptics Inc.</name>
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        <title>Synaptics Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>KalVista Pharmaceuticals, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Microbot Medical Inc.</name>
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        <title>Microbot Medical Inc.</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Autolus Therapeutics PLC</name>
        <lei>549300C0KZP8EYROLL02</lei>
        <title>Autolus Therapeutics PLC, ADR</title>
        <cusip>05280R100</cusip>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Galectin Therapeutics Inc.</name>
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        <title>Galectin Therapeutics Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>AtriCure, Inc.</name>
        <lei>254900B2I6GPHK2EXM59</lei>
        <title>AtriCure, Inc.</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Caribou Biosciences, Inc.</name>
        <lei>N/A</lei>
        <title>Caribou Biosciences, Inc.</title>
        <cusip>142038108</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>Energy Recovery, Inc.</name>
        <lei>549300ZEQL52Z525WJ22</lei>
        <title>Energy Recovery, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Fossil Group, Inc.</name>
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        <title>Fossil Group, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Bioventus Inc.</name>
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        <title>Bioventus Inc., Class A</title>
        <cusip>09075A108</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>MediWound Ltd.</name>
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        <title>MediWound Ltd.</title>
        <cusip>M68830112</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Aclaris Therapeutics, Inc.</name>
        <lei>5493000B2LQ9QTW1DF52</lei>
        <title>Aclaris Therapeutics, Inc.</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Entegris, Inc.</name>
        <lei>IYX6OWO7BT5DKO3BYG52</lei>
        <title>Entegris, Inc.</title>
        <cusip>29362U104</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Pacific Biosciences of California, Inc.</name>
        <lei>529900F1BWRE1M0KZN89</lei>
        <title>Pacific Biosciences of California, Inc.</title>
        <cusip>69404D108</cusip>
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        <balance>45738.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>Mitek Systems, Inc.</name>
        <lei>549300ABZAQ3R25XG118</lei>
        <title>Mitek Systems, Inc.</title>
        <cusip>606710200</cusip>
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        <name>Arbutus Biopharma Corp.</name>
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        <name>Aehr Test Systems</name>
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        <name>Bruker Corp.</name>
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        <name>MannKind Corp.</name>
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        <name>Kornit Digital Ltd.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Align Technology, Inc.</name>
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        <title>Align Technology, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Akebia Therapeutics, Inc.</name>
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        <title>Akebia Therapeutics, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Altimmune, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>BioCryst Pharmaceuticals, Inc.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Helen of Troy Ltd.</name>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Neuronetics, Inc.</name>
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        <title>Neuronetics, Inc.</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Canadian Solar Inc.</name>
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        <title>Canadian Solar Inc.</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Allegro Microsystems, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Integra LifeSciences Holdings Corp.</name>
        <lei>WB7IJCYY8YFTENS4O147</lei>
        <title>Integra LifeSciences Holdings Corp.</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>CytomX Therapeutics, Inc.</name>
        <lei>5493004VW2FW0QLL3345</lei>
        <title>CytomX Therapeutics, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Silicon Laboratories Inc.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Pro-Dex, Inc.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Ballard Power Systems Inc.</name>
        <lei>549300OHZ8BMF53YYS26</lei>
        <title>Ballard Power Systems Inc.</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Invesco Government &amp; Agency Portfolio</name>
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        <assetCat>STIV</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Lantronix, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Digimarc Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Netgear, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Aurora Innovation, Inc.</name>
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        <title>Aurora Innovation, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Sonos, Inc.</name>
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        <title>Sonos, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Kulicke and Soffa Industries, Inc.</name>
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        <title>Kulicke and Soffa Industries, Inc.</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Codexis, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>iQIYI, Inc.</name>
        <lei>222100XL8T2Q5B8MS302</lei>
        <title>iQIYI, Inc., ADR</title>
        <cusip>46267X108</cusip>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>MeiraGTx Holdings PLC</name>
        <lei>54930007YV6NYIOGFZ57</lei>
        <title>MeiraGTx Holdings PLC</title>
        <cusip>G59665102</cusip>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>8x8, Inc.</name>
        <lei>254900XWSOC5U1BRW939</lei>
        <title>8x8, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cognex Corp.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TTEC Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Arq, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>MasterCraft Boat Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Diodes Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ICU Medical, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>MKS Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Himax Technologies, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Fox Factory Holding Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Varex Imaging Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Johnson Outdoors Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Viasat, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Alpha and Omega Semiconductor Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Editas Medicine, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Filana Therapeutics, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>AudioEye, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Ovid Therapeutics Inc.</name>
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        <name>MaxCyte, Inc.</name>
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        <name>Xerox Holdings Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Columbus McKinnon Corp.</name>
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        <name>Conduent Inc.</name>
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        <name>Everspin Technologies, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Open Text Corp.</name>
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        <title>Open Text Corp.</title>
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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>MiMedx Group, Inc.</name>
        <lei>N/A</lei>
        <title>MiMedx Group, Inc.</title>
        <cusip>602496101</cusip>
        <identifiers>
          <isin value="US6024961012"/>
        </identifiers>
        <balance>15714.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>57827.52000000</valUSD>
        <pctVal>0.305881653152</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="906.49000000"/>
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      <invstOrSec>
        <name>Alkermes PLC</name>
        <lei>549300YHRMYLL071E243</lei>
        <title>Alkermes PLC</title>
        <cusip>G01767105</cusip>
        <identifiers>
          <isin value="IE00B56GVS15"/>
        </identifiers>
        <balance>2553.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>107711.07000000</valUSD>
        <pctVal>0.569743266776</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="90943.38000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Vanda Pharmaceuticals Inc.</name>
        <lei>529900AY8VOOQBKJ0O70</lei>
        <title>Vanda Pharmaceuticals Inc.</title>
        <cusip>921659108</cusip>
        <identifiers>
          <isin value="US9216591084"/>
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        <balance>8623.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>55618.35000000</valUSD>
        <pctVal>0.294196134359</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="56679.04000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Voyager Therapeutics, Inc.</name>
        <lei>54930082S4XVR0ZWCC74</lei>
        <title>Voyager Therapeutics, Inc.</title>
        <cusip>92915B106</cusip>
        <identifiers>
          <isin value="US92915B1061"/>
        </identifiers>
        <balance>18741.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>72527.67000000</valUSD>
        <pctVal>0.383638855667</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>
      <invstOrSec>
        <name>Milestone Pharmaceuticals Inc.</name>
        <lei>N/A</lei>
        <title>Milestone Pharmaceuticals Inc.</title>
        <cusip>59935V107</cusip>
        <identifiers>
          <isin value="CA59935V1076"/>
        </identifiers>
        <balance>44936.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>63809.12000000</valUSD>
        <pctVal>0.337521635231</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Amkor Technology, Inc.</name>
        <lei>529900VHLRTKPWZJBM84</lei>
        <title>Amkor Technology, Inc.</title>
        <cusip>031652100</cusip>
        <identifiers>
          <isin value="US0316521006"/>
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        <balance>1608.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>111852.48000000</valUSD>
        <pctVal>0.591649468826</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>
      <invstOrSec>
        <name>Fate Therapeutics, Inc.</name>
        <lei>549300L14Q4UHOODLA90</lei>
        <title>Fate Therapeutics, Inc.</title>
        <cusip>31189P102</cusip>
        <identifiers>
          <isin value="US31189P1021"/>
        </identifiers>
        <balance>51919.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>147449.96000000</valUSD>
        <pctVal>0.779944177478</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>
      <invstOrSec>
        <name>ProQR Therapeutics N.V.</name>
        <lei>549300NGS2FJGGDBGS06</lei>
        <title>ProQR Therapeutics N.V.</title>
        <cusip>N71542109</cusip>
        <identifiers>
          <isin value="NL0010872495"/>
        </identifiers>
        <balance>48328.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>76358.24000000</valUSD>
        <pctVal>0.403900853486</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="30615.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Commvault Systems, Inc.</name>
        <lei>65T5VRP62VXG39YFML83</lei>
        <title>Commvault Systems, Inc.</title>
        <cusip>204166102</cusip>
        <identifiers>
          <isin value="US2041661024"/>
        </identifiers>
        <balance>905.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>107468.75000000</valUSD>
        <pctVal>0.568461502623</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="98217.51000000"/>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-06-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Invesco Exchange-Traded Fund Trust II</ncom:nameOfApplicant>
      <ncom:signature>Adrien Deberghes</ncom:signature>
      <ncom:signerName>Adrien Deberghes</ncom:signerName>
      <ncom:title>Vice President</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
