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      <regStreet1>55 East 52nd Street,</regStreet1>
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      <regZipOrPostalCode>10055</regZipOrPostalCode>
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      <seriesName>BBR ALO Fund, LLC.</seriesName>
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      <repPdEnd>2027-03-31</repPdEnd>
      <repPdDate>2026-06-30</repPdDate>
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        <name>AMETEK Inc</name>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CORE NATURAL RESOURCES INC</name>
        <lei>N/A</lei>
        <title>CORE NATURAL RESOURCES INC</title>
        <cusip>218937100</cusip>
        <identifiers>
          <isin value="US2189371006"/>
          <ticker value="CNR"/>
        </identifiers>
        <balance>135243</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10822144.86</valUSD>
        <pctVal>0.5515716477</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>CANADIAN PAC RY LTD COM</name>
        <lei>N/A</lei>
        <title>CANADIAN PAC RY LTD COM</title>
        <cusip>13646K108</cusip>
        <identifiers>
          <isin value="CA13646K1084"/>
          <ticker value="CP"/>
        </identifiers>
        <balance>216197</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18733470.05</valUSD>
        <pctVal>0.9547877132</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>COMPASS GROUP PLC-BBRALO</name>
        <lei>N/A</lei>
        <title>COMPASS GROUP PLC-BBRALO</title>
        <cusip>G23296208</cusip>
        <identifiers>
          <isin value="GB00BD6K4575"/>
          <ticker value="CPG LN"/>
        </identifiers>
        <balance>219855</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7101316.5</valUSD>
        <pctVal>0.3619323982</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>Copart Inc</name>
        <lei>N/A</lei>
        <title>Copart Inc</title>
        <cusip>217204106</cusip>
        <identifiers>
          <isin value="US2172041061"/>
          <ticker value="CPRT"/>
        </identifiers>
        <balance>409996</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11557787.24</valUSD>
        <pctVal>0.5890650915</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>Copart Inc</name>
        <lei>N/A</lei>
        <title>Copart Inc</title>
        <cusip>217204106</cusip>
        <identifiers>
          <isin value="US2172041061"/>
          <ticker value="CPRT"/>
        </identifiers>
        <balance>268192</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7560332.48</valUSD>
        <pctVal>0.3853270398</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>AXA-BBRALO</name>
        <lei>N/A</lei>
        <title>AXA-BBRALO</title>
        <cusip>F06106102</cusip>
        <identifiers>
          <isin value="FR0000120628"/>
          <ticker value="CS FP"/>
        </identifiers>
        <balance>165147</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8279431.64</valUSD>
        <pctVal>0.4219773262</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cisco Systems Inc</name>
        <lei>N/A</lei>
        <title>Cisco Systems Inc</title>
        <cusip>17275R102</cusip>
        <identifiers>
          <isin value="US17275R1023"/>
          <ticker value="CSCO"/>
        </identifiers>
        <balance>67963</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7982933.98</valUSD>
        <pctVal>0.4068657466</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>CANADIAN TIRE LTD CL A-BBRALO</name>
        <lei>N/A</lei>
        <title>CANADIAN TIRE LTD CL A-BBRALO</title>
        <cusip>136681202</cusip>
        <identifiers>
          <isin value="CA1366812024"/>
          <ticker value="CTC/A CN"/>
        </identifiers>
        <balance>34749</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4784646.44</valUSD>
        <pctVal>0.2438588057</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>DILLARDS INC CL A</name>
        <lei>N/A</lei>
        <title>DILLARDS INC CL A</title>
        <cusip>254067101</cusip>
        <identifiers>
          <isin value="US2540671011"/>
          <ticker value="DDS"/>
        </identifiers>
        <balance>15326</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8098564.92</valUSD>
        <pctVal>0.4127591023</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>VINCI SA-BBRALO</name>
        <lei>N/A</lei>
        <title>VINCI SA-BBRALO</title>
        <cusip>F5879X108</cusip>
        <identifiers>
          <isin value="FR0000125486"/>
          <ticker value="DG FP"/>
        </identifiers>
        <balance>39382</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5754251.76</valUSD>
        <pctVal>0.2932766254</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HF SINCLAIR CORP</name>
        <lei>N/A</lei>
        <title>HF SINCLAIR CORP</title>
        <cusip>403949100</cusip>
        <identifiers>
          <isin value="US4039491000"/>
          <ticker value="DINO"/>
        </identifiers>
        <balance>124650</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8681872.5</valUSD>
        <pctVal>0.4424885068</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>HUMANA INC COM</name>
        <lei>N/A</lei>
        <title>HUMANA INC COM</title>
        <cusip>444859102</cusip>
        <identifiers>
          <isin value="US4448591028"/>
          <ticker value="HUM"/>
        </identifiers>
        <balance>43464</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17264770.08</valUSD>
        <pctVal>0.8799325645</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>INTERDIGITAL INC COM</name>
        <lei>N/A</lei>
        <title>INTERDIGITAL INC COM</title>
        <cusip>45867G101</cusip>
        <identifiers>
          <isin value="US45867G1013"/>
          <ticker value="IDCC"/>
        </identifiers>
        <balance>32385</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9169165.05</valUSD>
        <pctVal>0.4673243188</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>IDEXX Laboratories Inc</name>
        <lei>N/A</lei>
        <title>IDEXX Laboratories Inc</title>
        <cusip>45168D104</cusip>
        <identifiers>
          <isin value="US45168D1046"/>
          <ticker value="IDXX"/>
        </identifiers>
        <balance>40640</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21394521.6</valUSD>
        <pctVal>1.0904133777</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>IG GROUP HOLDING-BBRALO</name>
        <lei>N/A</lei>
        <title>IG GROUP HOLDING-BBRALO</title>
        <cusip>G4753Q106</cusip>
        <identifiers>
          <isin value="GB00B06QFB75"/>
          <ticker value="IGG LN"/>
        </identifiers>
        <balance>204995</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4946404.48</valUSD>
        <pctVal>0.2521031186</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>INTERCONTINENTAL HOTELS GROU-BBRALO</name>
        <lei>N/A</lei>
        <title>INTERCONTINENTAL HOTELS GROU-BBRALO</title>
        <cusip>G4804L163</cusip>
        <identifiers>
          <isin value="GB00BHJYC057"/>
          <ticker value="IHG LN"/>
        </identifiers>
        <balance>29744</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5123404</valUSD>
        <pctVal>0.2611242432</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>INFORMA PLC-BBRALO</name>
        <lei>N/A</lei>
        <title>INFORMA PLC-BBRALO</title>
        <cusip>G4770L106</cusip>
        <identifiers>
          <isin value="GB00BMJ6DW54"/>
          <ticker value="INF LN"/>
        </identifiers>
        <balance>460632</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5528038.88</valUSD>
        <pctVal>0.2817472463</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>INTEL CORP</name>
        <lei>N/A</lei>
        <title>INTEL CORP</title>
        <cusip>458140100</cusip>
        <identifiers>
          <isin value="US4581401001"/>
          <ticker value="INTC"/>
        </identifiers>
        <balance>65099</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9089773.37</valUSD>
        <pctVal>0.4632779675</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>Gartner Inc</name>
        <lei>N/A</lei>
        <title>Gartner Inc</title>
        <cusip>366651107</cusip>
        <identifiers>
          <isin value="US3666511072"/>
          <ticker value="IT"/>
        </identifiers>
        <balance>75749</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9818585.38</valUSD>
        <pctVal>0.5004232882</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>INDUSTRIA DE DISENO TEXTIL-BBRALO</name>
        <lei>N/A</lei>
        <title>INDUSTRIA DE DISENO TEXTIL-BBRALO</title>
        <cusip>E6282J125</cusip>
        <identifiers>
          <isin value="ES0148396007"/>
          <ticker value="ITX SM"/>
        </identifiers>
        <balance>117741</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7419884.87</valUSD>
        <pctVal>0.3781688544</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KBC GROEP-BBRALO</name>
        <lei>N/A</lei>
        <title>KBC GROEP-BBRALO</title>
        <cusip>B5337G162</cusip>
        <identifiers>
          <isin value="BE0003565737"/>
          <ticker value="KBC BB"/>
        </identifiers>
        <balance>64968</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8861355.88</valUSD>
        <pctVal>0.4516362262</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KLA-Tencor Corp</name>
        <lei>N/A</lei>
        <title>KLA-Tencor Corp</title>
        <cusip>482480100</cusip>
        <identifiers>
          <isin value="US4824801009"/>
          <ticker value="KLAC"/>
        </identifiers>
        <balance>34813</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10503430.23</valUSD>
        <pctVal>0.5353277371</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>KINSALE CAPITAL GROUP INC</name>
        <lei>N/A</lei>
        <title>KINSALE CAPITAL GROUP INC</title>
        <cusip>49714P108</cusip>
        <identifiers>
          <isin value="US49714P1084"/>
          <ticker value="KNSL"/>
        </identifiers>
        <balance>46148</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15220071.88</valUSD>
        <pctVal>0.7757205465</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>KONINKLIJKE KPN NV EUR0.24-BBRALO</name>
        <lei>N/A</lei>
        <title>KONINKLIJKE KPN NV EUR0.24-BBRALO</title>
        <cusip>N4297B146</cusip>
        <identifiers>
          <isin value="NL0000009082"/>
          <ticker value="KPN NA"/>
        </identifiers>
        <balance>897344</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4427928.87</valUSD>
        <pctVal>0.2256780014</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>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KERRY GROUP PLC-A-BBRALO</name>
        <lei>N/A</lei>
        <title>KERRY GROUP PLC-A-BBRALO</title>
        <cusip>G52416107</cusip>
        <identifiers>
          <isin value="IE0004906560"/>
          <ticker value="KYGA ID"/>
        </identifiers>
        <balance>41687</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3829541.33</valUSD>
        <pctVal>0.1951800173</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>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LANDBRIDGE CO LLC-A</name>
        <lei>N/A</lei>
        <title>LANDBRIDGE CO LLC-A</title>
        <cusip>514952100</cusip>
        <identifiers>
          <isin value="US5149521008"/>
          <ticker value="LB"/>
        </identifiers>
        <balance>97435</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7720749.4</valUSD>
        <pctVal>0.3935029999</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>LINDE PLC</name>
        <lei>N/A</lei>
        <title>LINDE PLC</title>
        <cusip>G54950103</cusip>
        <identifiers>
          <isin value="IE000S9YS762"/>
          <ticker value="LIN"/>
        </identifiers>
        <balance>64564</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33504842.16</valUSD>
        <pctVal>1.7076394037</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>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LANTHEUS HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>LANTHEUS HOLDINGS INC</title>
        <cusip>516544103</cusip>
        <identifiers>
          <isin value="US5165441032"/>
          <ticker value="LNTH"/>
        </identifiers>
        <balance>194917</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21624091.98</valUSD>
        <pctVal>1.1021138783</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>Lam Research Corp</name>
        <lei>N/A</lei>
        <title>Lam Research Corp</title>
        <cusip>512807306</cusip>
        <identifiers>
          <isin value="US5128073062"/>
          <ticker value="LRCX"/>
        </identifiers>
        <balance>23957</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10381286.81</valUSD>
        <pctVal>0.5291024603</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>LONDON STOCK EXCHANGE GROUP-BBRALO</name>
        <lei>N/A</lei>
        <title>LONDON STOCK EXCHANGE GROUP-BBRALO</title>
        <cusip>G5689U103</cusip>
        <identifiers>
          <isin value="GB00B0SWJX34"/>
          <ticker value="LSEG LN"/>
        </identifiers>
        <balance>39065</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4231914.64</valUSD>
        <pctVal>0.2156877552</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>LOTTOMATICA GROUP SPA-BBRALO</name>
        <lei>N/A</lei>
        <title>LOTTOMATICA GROUP SPA-BBRALO</title>
        <cusip>T64384109</cusip>
        <identifiers>
          <isin value="IT0005541336"/>
          <ticker value="LTMC IM"/>
        </identifiers>
        <balance>221485</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6153338.85</valUSD>
        <pctVal>0.3136168747</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BK LEUMI LE ISRAEL ILS1-BBRALO</name>
        <lei>N/A</lei>
        <title>BK LEUMI LE ISRAEL ILS1-BBRALO</title>
        <cusip>M16043107</cusip>
        <identifiers>
          <isin value="IL0006046119"/>
          <ticker value="LUMI IT"/>
        </identifiers>
        <balance>131574</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2937998.03</valUSD>
        <pctVal>0.1497407802</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>LYONDELLBASELL INDU-CL A</name>
        <lei>N/A</lei>
        <title>LYONDELLBASELL INDU-CL A</title>
        <cusip>N53745100</cusip>
        <identifiers>
          <isin value="NL0009434992"/>
          <ticker value="LYB"/>
        </identifiers>
        <balance>158727</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8356976.55</valUSD>
        <pctVal>0.4259295533</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>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MOODYS CORP COM</name>
        <lei>N/A</lei>
        <title>MOODYS CORP COM</title>
        <cusip>615369105</cusip>
        <identifiers>
          <isin value="US6153691059"/>
          <ticker value="MCO"/>
        </identifiers>
        <balance>45386</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20556227.12</valUSD>
        <pctVal>1.0476880701</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>MARTIN MARIETTA MATLS INC COM</name>
        <lei>N/A</lei>
        <title>MARTIN MARIETTA MATLS INC COM</title>
        <cusip>573284106</cusip>
        <identifiers>
          <isin value="US5732841060"/>
          <ticker value="MLM"/>
        </identifiers>
        <balance>42381</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24441122.7</valUSD>
        <pctVal>1.2456893244</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>Molina Healthcare Inc</name>
        <lei>N/A</lei>
        <title>Molina Healthcare Inc</title>
        <cusip>60855R100</cusip>
        <identifiers>
          <isin value="US60855R1005"/>
          <ticker value="MOH"/>
        </identifiers>
        <balance>86771</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19844527.7</valUSD>
        <pctVal>1.0114149259</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>MARATHON PETROLEUM CORP</name>
        <lei>N/A</lei>
        <title>MARATHON PETROLEUM CORP</title>
        <cusip>56585A102</cusip>
        <identifiers>
          <isin value="US56585A1025"/>
          <ticker value="MPC"/>
        </identifiers>
        <balance>46664</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11930584.88</valUSD>
        <pctVal>0.6080654478</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>MEDIBANK PRIVATE LTD-BBRALO</name>
        <lei>N/A</lei>
        <title>MEDIBANK PRIVATE LTD-BBRALO</title>
        <cusip>Q5921Q109</cusip>
        <identifiers>
          <isin value="AU000000MPL3"/>
          <ticker value="MPL AU"/>
        </identifiers>
        <balance>756306</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2604124.95</valUSD>
        <pctVal>0.1327242897</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Private Fund"/>
        <issuerCat>PF</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RIO TINTO LIMITED NPV-BBRALO</name>
        <lei>N/A</lei>
        <title>RIO TINTO LIMITED NPV-BBRALO</title>
        <cusip>Q81437107</cusip>
        <identifiers>
          <isin value="AU000000RIO1"/>
          <ticker value="RIO AU"/>
        </identifiers>
        <balance>28795</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3441432.38</valUSD>
        <pctVal>0.1753992903</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RECKITT BENCKISER GROUP PLC-BBRALO</name>
        <lei>N/A</lei>
        <title>RECKITT BENCKISER GROUP PLC-BBRALO</title>
        <cusip>G74079107</cusip>
        <identifiers>
          <isin value="GB00B24CGK77"/>
          <ticker value="RKT LN"/>
        </identifiers>
        <balance>60614</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3950893.84</valUSD>
        <pctVal>0.2013649839</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>RLI CORP COM</name>
        <lei>N/A</lei>
        <title>RLI CORP COM</title>
        <cusip>749607107</cusip>
        <identifiers>
          <isin value="US7496071074"/>
          <ticker value="RLI"/>
        </identifiers>
        <balance>335500</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19817985</valUSD>
        <pctVal>1.0100621256</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>ROCHE HLDGS AG GENUSSCHEINE NPV-BBRALO</name>
        <lei>N/A</lei>
        <title>ROCHE HLDGS AG GENUSSCHEINE NPV-BBRALO</title>
        <cusip>H69293217</cusip>
        <identifiers>
          <isin value="CH0012032048"/>
          <ticker value="ROG SW"/>
        </identifiers>
        <balance>21016</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8670581.79</valUSD>
        <pctVal>0.4419130539</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TESCO ORD GBP0.05-BBRALO</name>
        <lei>N/A</lei>
        <title>TESCO ORD GBP0.05-BBRALO</title>
        <cusip>G8T67X102</cusip>
        <identifiers>
          <isin value="GB00BLGZ9862"/>
          <ticker value="TSCO LN"/>
        </identifiers>
        <balance>1238932</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7542732.22</valUSD>
        <pctVal>0.3844300083</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>TAIWAN SEMICONDUCTOR-SP ADR-BBRALO</name>
        <lei>N/A</lei>
        <title>TAIWAN SEMICONDUCTOR-SP ADR-BBRALO</title>
        <cusip>874039100</cusip>
        <identifiers>
          <isin value="US8740391003"/>
          <ticker value="TSM"/>
        </identifiers>
        <balance>29037</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13867200.09</valUSD>
        <pctVal>0.7067688061</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TOTALENERGIES SE-BBRALO</name>
        <lei>N/A</lei>
        <title>TOTALENERGIES SE-BBRALO</title>
        <cusip>F92124100</cusip>
        <identifiers>
          <isin value="FR0000120271"/>
          <ticker value="TTE FP"/>
        </identifiers>
        <balance>61257</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4764490.13</valUSD>
        <pctVal>0.2428315002</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tyler Technologies Inc</name>
        <lei>N/A</lei>
        <title>Tyler Technologies Inc</title>
        <cusip>902252105</cusip>
        <identifiers>
          <isin value="US9022521051"/>
          <ticker value="TYL"/>
        </identifiers>
        <balance>53663</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15694280.98</valUSD>
        <pctVal>0.7998895350</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>UNICREDIT SPA-BBRALO</name>
        <lei>N/A</lei>
        <title>UNICREDIT SPA-BBRALO</title>
        <cusip>T9T23L642</cusip>
        <identifiers>
          <isin value="IT0005239360"/>
          <ticker value="UCG IM"/>
        </identifiers>
        <balance>84816</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7588883.19</valUSD>
        <pctVal>0.3867821822</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITED THERAPEUTICS CORP DEL COM</name>
        <lei>N/A</lei>
        <title>UNITED THERAPEUTICS CORP DEL COM</title>
        <cusip>91307C102</cusip>
        <identifiers>
          <isin value="US91307C1027"/>
          <ticker value="UTHR"/>
        </identifiers>
        <balance>25107</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13603725.81</valUSD>
        <pctVal>0.6933403273</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>VEEVA SYS INC CL A COM</name>
        <lei>N/A</lei>
        <title>VEEVA SYS INC CL A COM</title>
        <cusip>922475108</cusip>
        <identifiers>
          <isin value="US9224751084"/>
          <ticker value="VEEV"/>
        </identifiers>
        <balance>136771</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24272749.37</valUSD>
        <pctVal>1.2371078504</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>VALERO ENERGY CORP</name>
        <lei>N/A</lei>
        <title>VALERO ENERGY CORP</title>
        <cusip>91913Y100</cusip>
        <identifiers>
          <isin value="US91913Y1001"/>
          <ticker value="VLO"/>
        </identifiers>
        <balance>47550</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12383922</valUSD>
        <pctVal>0.6311706552</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>VULCAN MATERIALS CO</name>
        <lei>N/A</lei>
        <title>VULCAN MATERIALS CO</title>
        <cusip>929160109</cusip>
        <identifiers>
          <isin value="US9291601097"/>
          <ticker value="VMC"/>
        </identifiers>
        <balance>13540</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3994435.4</valUSD>
        <pctVal>0.2035841641</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>WEIR GROUP PLC/THE-BBRALO</name>
        <lei>N/A</lei>
        <title>WEIR GROUP PLC/THE-BBRALO</title>
        <cusip>G95248137</cusip>
        <identifiers>
          <isin value="GB0009465807"/>
          <ticker value="WEIR LN"/>
        </identifiers>
        <balance>158701</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5063684.12</valUSD>
        <pctVal>0.2580805034</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>WEATHERFORD INTERNATIONAL PL</name>
        <lei>N/A</lei>
        <title>WEATHERFORD INTERNATIONAL PL</title>
        <cusip>G48833118</cusip>
        <identifiers>
          <isin value="IE00BLNN3691"/>
          <ticker value="WFRD"/>
        </identifiers>
        <balance>163859</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13354508.5</valUSD>
        <pctVal>0.6806384827</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>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OPEN HOUSE CO LTD-BBRALO</name>
        <lei>N/A</lei>
        <title>OPEN HOUSE CO LTD-BBRALO</title>
        <cusip>J3072G101</cusip>
        <identifiers>
          <isin value="JP3173540000"/>
          <ticker value="3288 JP"/>
        </identifiers>
        <balance>122500</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6389370.88</valUSD>
        <pctVal>0.3256467059</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NISSAN CHEMICAL INDUSTRIES-BBRALO</name>
        <lei>N/A</lei>
        <title>NISSAN CHEMICAL INDUSTRIES-BBRALO</title>
        <cusip>J56988108</cusip>
        <identifiers>
          <isin value="JP3670800006"/>
          <ticker value="4021 JP"/>
        </identifiers>
        <balance>8700</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>453561.61</valUSD>
        <pctVal>0.0231166490</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TAKEDA PHARMACEUTI NPV-BBRALO</name>
        <lei>N/A</lei>
        <title>TAKEDA PHARMACEUTI NPV-BBRALO</title>
        <cusip>J8129E108</cusip>
        <identifiers>
          <isin value="JP3463000004"/>
          <ticker value="4502 JP"/>
        </identifiers>
        <balance>192000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6089893.84</valUSD>
        <pctVal>0.3103832764</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHUGAI PHARMACEUTICAL CO LTD-BBRALO</name>
        <lei>N/A</lei>
        <title>CHUGAI PHARMACEUTICAL CO LTD-BBRALO</title>
        <cusip>J06930101</cusip>
        <identifiers>
          <isin value="JP3519400000"/>
          <ticker value="4519 JP"/>
        </identifiers>
        <balance>94200</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4366730.04</valUSD>
        <pctVal>0.2225588841</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OBIC CO LTD-BBRALO</name>
        <lei>N/A</lei>
        <title>OBIC CO LTD-BBRALO</title>
        <cusip>J5946V107</cusip>
        <identifiers>
          <isin value="JP3173400007"/>
          <ticker value="4684 JP"/>
        </identifiers>
        <balance>151600</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3566016.3</valUSD>
        <pctVal>0.1817489520</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHIZUOKA FINANCIAL GROUP INC-BBRALO</name>
        <lei>N/A</lei>
        <title>SHIZUOKA FINANCIAL GROUP INC-BBRALO</title>
        <cusip>J74446105</cusip>
        <identifiers>
          <isin value="JP3351500008"/>
          <ticker value="5831 JP"/>
        </identifiers>
        <balance>289400</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5386463.62</valUSD>
        <pctVal>0.2745315880</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HITACHI LTD-BBRALO</name>
        <lei>N/A</lei>
        <title>HITACHI LTD-BBRALO</title>
        <cusip>J20454112</cusip>
        <identifiers>
          <isin value="JP3788600009"/>
          <ticker value="6501 JP"/>
        </identifiers>
        <balance>205300</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5647723.73</valUSD>
        <pctVal>0.2878472173</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SONY CORP NPV-BBRALO</name>
        <lei>N/A</lei>
        <title>SONY CORP NPV-BBRALO</title>
        <cusip>J76379106</cusip>
        <identifiers>
          <isin value="JP3435000009"/>
          <ticker value="6758 JP"/>
        </identifiers>
        <balance>304300</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6141233.66</valUSD>
        <pctVal>0.3129999101</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HKT TRUST AND HKT SHARE STAPLED UNIT-BBRALO</name>
        <lei>N/A</lei>
        <title>HKT TRUST AND HKT SHARE STAPLED UNIT-BBRALO</title>
        <cusip>Y3R29Z107</cusip>
        <identifiers>
          <isin value="HK0000093390"/>
          <ticker value="6823 HK"/>
        </identifiers>
        <balance>3777000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5615855.55</valUSD>
        <pctVal>0.2862229936</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NIHON UNISYS LTD-BBRALO</name>
        <lei>N/A</lei>
        <title>NIHON UNISYS LTD-BBRALO</title>
        <cusip>J51097103</cusip>
        <identifiers>
          <isin value="JP3754200008"/>
          <ticker value="8056 JP"/>
        </identifiers>
        <balance>97600</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2563632.67</valUSD>
        <pctVal>0.1306605219</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MITSUBISHI UFJ FIN NPV-BBRALO</name>
        <lei>N/A</lei>
        <title>MITSUBISHI UFJ FIN NPV-BBRALO</title>
        <cusip>J44497105</cusip>
        <identifiers>
          <isin value="JP3902900004"/>
          <ticker value="8306 JP"/>
        </identifiers>
        <balance>396900</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7831769.27</valUSD>
        <pctVal>0.3991613434</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUMITOMO MITSUI FG NPV-BBRALO</name>
        <lei>N/A</lei>
        <title>SUMITOMO MITSUI FG NPV-BBRALO</title>
        <cusip>J7771X109</cusip>
        <identifiers>
          <isin value="JP3890350006"/>
          <ticker value="8316 JP"/>
        </identifiers>
        <balance>196400</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7668693.43</valUSD>
        <pctVal>0.3908498662</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MITSUI FUDOSAN CO NPV-BBRALO</name>
        <lei>N/A</lei>
        <title>MITSUI FUDOSAN CO NPV-BBRALO</title>
        <cusip>J4509L101</cusip>
        <identifiers>
          <isin value="JP3893200000"/>
          <ticker value="8801 JP"/>
        </identifiers>
        <balance>630300</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5813380.71</valUSD>
        <pctVal>0.2962902473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ANGLO AMERICAN USD0.54945-BBRALO</name>
        <lei>N/A</lei>
        <title>ANGLO AMERICAN USD0.54945-BBRALO</title>
        <cusip>G03764134</cusip>
        <identifiers>
          <isin value="GB00B1XZS820"/>
          <ticker value="AAL LN"/>
        </identifiers>
        <balance>67768</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3325267.58</valUSD>
        <pctVal>0.1694787255</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>ABB LTD-REG-BBRALO</name>
        <lei>N/A</lei>
        <title>ABB LTD-REG-BBRALO</title>
        <cusip>H0010V101</cusip>
        <identifiers>
          <isin value="CH0012221716"/>
          <ticker value="ABBN SW"/>
        </identifiers>
        <balance>83985</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9118460.68</valUSD>
        <pctVal>0.4647400720</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ARCH CAP GROUP LTD ORD</name>
        <lei>N/A</lei>
        <title>ARCH CAP GROUP LTD ORD</title>
        <cusip>G0450A105</cusip>
        <identifiers>
          <isin value="BMG0450A1053"/>
          <ticker value="ACGL"/>
        </identifiers>
        <balance>191159</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18553892.54</valUSD>
        <pctVal>0.9456351963</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AIB GROUP PLC-BBRALO</name>
        <lei>N/A</lei>
        <title>AIB GROUP PLC-BBRALO</title>
        <cusip>G0R4HJ106</cusip>
        <identifiers>
          <isin value="IE00BF0L3536"/>
          <ticker value="AIBG ID"/>
        </identifiers>
        <balance>753561</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8852388.87</valUSD>
        <pctVal>0.4511792051</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>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ARISTOCRAT LEISURE NPV-BBRALO</name>
        <lei>N/A</lei>
        <title>ARISTOCRAT LEISURE NPV-BBRALO</title>
        <cusip>Q0521T108</cusip>
        <identifiers>
          <isin value="AU000000ALL7"/>
          <ticker value="ALL AU"/>
        </identifiers>
        <balance>138896</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5895837.46</valUSD>
        <pctVal>0.3004928158</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Applied Materials Inc</name>
        <lei>N/A</lei>
        <title>Applied Materials Inc</title>
        <cusip>038222105</cusip>
        <identifiers>
          <isin value="US0382221051"/>
          <ticker value="AMAT"/>
        </identifiers>
        <balance>14057</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10163211</valUSD>
        <pctVal>0.5179878028</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>MSCI INC COM</name>
        <lei>N/A</lei>
        <title>MSCI INC COM</title>
        <cusip>55354G100</cusip>
        <identifiers>
          <isin value="US55354G1004"/>
          <ticker value="MSCI"/>
        </identifiers>
        <balance>41636</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23317825.44</valUSD>
        <pctVal>1.1884382962</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>Micron Technology Inc</name>
        <lei>N/A</lei>
        <title>Micron Technology Inc</title>
        <cusip>595112103</cusip>
        <identifiers>
          <isin value="US5951121038"/>
          <ticker value="MU"/>
        </identifiers>
        <balance>9035</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10429010.15</valUSD>
        <pctVal>0.5315347731</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>NORDEA BANK ABP-BBRALO</name>
        <lei>N/A</lei>
        <title>NORDEA BANK ABP-BBRALO</title>
        <cusip>X5S8VL105</cusip>
        <identifiers>
          <isin value="FI4000297767"/>
          <ticker value="NDA SS"/>
        </identifiers>
        <balance>321074</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6092614.82</valUSD>
        <pctVal>0.3105219565</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NATIONAL GRID PLC-BBRALO</name>
        <lei>N/A</lei>
        <title>NATIONAL GRID PLC-BBRALO</title>
        <cusip>G6S9A7120</cusip>
        <identifiers>
          <isin value="GB00BDR05C01"/>
          <ticker value="NG/ LN"/>
        </identifiers>
        <balance>455823</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7550284.21</valUSD>
        <pctVal>0.3848149102</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>NICE SYS LTD SPONSORED ADR-BBRALO</name>
        <lei>N/A</lei>
        <title>NICE SYS LTD SPONSORED ADR-BBRALO</title>
        <cusip>653656108</cusip>
        <identifiers>
          <isin value="US6536561086"/>
          <ticker value="NICE"/>
        </identifiers>
        <balance>23780</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2160413</valUSD>
        <pctVal>0.1101096477</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>NN GROUP-BBRALO</name>
        <lei>N/A</lei>
        <title>NN GROUP-BBRALO</title>
        <cusip>N64038107</cusip>
        <identifiers>
          <isin value="NL0010773842"/>
          <ticker value="NN NA"/>
        </identifiers>
        <balance>87986</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7711566.84</valUSD>
        <pctVal>0.3930349929</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>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOVARTIS AG CHF0.50(REGD)-BBRALO</name>
        <lei>N/A</lei>
        <title>NOVARTIS AG CHF0.50(REGD)-BBRALO</title>
        <cusip>H5820Q150</cusip>
        <identifiers>
          <isin value="CH0012005267"/>
          <ticker value="NOVN SW"/>
        </identifiers>
        <balance>64197</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10073831.59</valUSD>
        <pctVal>0.5134324074</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NVR INC COM</name>
        <lei>N/A</lei>
        <title>NVR INC COM</title>
        <cusip>62944T105</cusip>
        <identifiers>
          <isin value="US62944T1051"/>
          <ticker value="NVR"/>
        </identifiers>
        <balance>4605</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31375707</valUSD>
        <pctVal>1.5991238919</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>NATWEST GROUP PLC-BBRALO</name>
        <lei>N/A</lei>
        <title>NATWEST GROUP PLC-BBRALO</title>
        <cusip>G6422B147</cusip>
        <identifiers>
          <isin value="GB00BM8PJY71"/>
          <ticker value="NWG LN"/>
        </identifiers>
        <balance>760512</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6732624.37</valUSD>
        <pctVal>0.3431412872</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>OCBC BANK-BBRALO</name>
        <lei>N/A</lei>
        <title>OCBC BANK-BBRALO</title>
        <cusip>Y64248209</cusip>
        <identifiers>
          <isin value="SG1S04926220"/>
          <ticker value="OCBC SP"/>
        </identifiers>
        <balance>481700</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9232164.37</valUSD>
        <pctVal>0.4705352016</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OLD DOMINION FGHT LINES INC COM</name>
        <lei>N/A</lei>
        <title>OLD DOMINION FGHT LINES INC COM</title>
        <cusip>679580100</cusip>
        <identifiers>
          <isin value="US6795801009"/>
          <ticker value="ODFL"/>
        </identifiers>
        <balance>75683</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16392937.8</valUSD>
        <pctVal>0.8354979378</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>PHOENIX FINANCIAL LTD-BBRALO</name>
        <lei>N/A</lei>
        <title>PHOENIX FINANCIAL LTD-BBRALO</title>
        <cusip>M7918D145</cusip>
        <identifiers>
          <isin value="IL0007670123"/>
          <ticker value="PHOE IT"/>
        </identifiers>
        <balance>75874</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4191666.38</valUSD>
        <pctVal>0.2136364244</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>Philip Morris International Inc-BBRALO</name>
        <lei>N/A</lei>
        <title>Philip Morris International Inc-BBRALO</title>
        <cusip>718172109</cusip>
        <identifiers>
          <isin value="US7181721090"/>
          <ticker value="PM"/>
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        <balance>10987</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1987658.17</valUSD>
        <pctVal>0.1013048620</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>Pool Corp</name>
        <lei>N/A</lei>
        <title>Pool Corp</title>
        <cusip>73278L105</cusip>
        <identifiers>
          <isin value="US73278L1052"/>
          <ticker value="POOL"/>
        </identifiers>
        <balance>16530</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3552297</valUSD>
        <pctVal>0.1810497212</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>Primerica Inc</name>
        <lei>N/A</lei>
        <title>Primerica Inc</title>
        <cusip>74164M108</cusip>
        <identifiers>
          <isin value="US74164M1080"/>
          <ticker value="PRI"/>
        </identifiers>
        <balance>96489</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27422173.8</valUSD>
        <pctVal>1.3976243880</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>PRYSMIAN SPA-BBRALO</name>
        <lei>N/A</lei>
        <title>PRYSMIAN SPA-BBRALO</title>
        <cusip>T7630L105</cusip>
        <identifiers>
          <isin value="IT0004176001"/>
          <ticker value="PRY IM"/>
        </identifiers>
        <balance>61433</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10258019.57</valUSD>
        <pctVal>0.5228199058</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PEARSON ORD GBP0.25-BBRALO</name>
        <lei>N/A</lei>
        <title>PEARSON ORD GBP0.25-BBRALO</title>
        <cusip>G69651100</cusip>
        <identifiers>
          <isin value="GB0006776081"/>
          <ticker value="PSON LN"/>
        </identifiers>
        <balance>401039</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6366053.27</valUSD>
        <pctVal>0.3244582785</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>RBC BEARINGS INC</name>
        <lei>N/A</lei>
        <title>RBC BEARINGS INC</title>
        <cusip>75524B104</cusip>
        <identifiers>
          <isin value="US75524B1044"/>
          <ticker value="RBC"/>
        </identifiers>
        <balance>83611</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>53850500.66</valUSD>
        <pctVal>2.7445954349</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>RELX PLC  GBP0.1444-BBRALO</name>
        <lei>N/A</lei>
        <title>RELX PLC  GBP0.1444-BBRALO</title>
        <cusip>G7493L105</cusip>
        <identifiers>
          <isin value="GB00B2B0DG97"/>
          <ticker value="REL LN"/>
        </identifiers>
        <balance>192194</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6035413.71</valUSD>
        <pctVal>0.3076065907</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>ROYAL BK CDA MONTREAL QUE COM-BBRALO</name>
        <lei>N/A</lei>
        <title>ROYAL BK CDA MONTREAL QUE COM-BBRALO</title>
        <cusip>780087102</cusip>
        <identifiers>
          <isin value="CA7800871021"/>
          <ticker value="RY CN"/>
        </identifiers>
        <balance>19275</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3989908.01</valUSD>
        <pctVal>0.2033534169</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>RYANAIR HOLDINGS PLC-BBRALO</name>
        <lei>N/A</lei>
        <title>RYANAIR HOLDINGS PLC-BBRALO</title>
        <cusip>G7727C186</cusip>
        <identifiers>
          <isin value="IE00BYTBXV33"/>
          <ticker value="RYA ID"/>
        </identifiers>
        <balance>170457</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5330063.83</valUSD>
        <pctVal>0.2716570631</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAFRAN EUR0.20-BBRALO</name>
        <lei>N/A</lei>
        <title>SAFRAN EUR0.20-BBRALO</title>
        <cusip>F4035A557</cusip>
        <identifiers>
          <isin value="FR0000073272"/>
          <ticker value="SAF FP"/>
        </identifiers>
        <balance>20066</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7914803.56</valUSD>
        <pctVal>0.4033933474</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SALMAR ASA NOK0.25-BBRALO</name>
        <lei>N/A</lei>
        <title>SALMAR ASA NOK0.25-BBRALO</title>
        <cusip>R7445C102</cusip>
        <identifiers>
          <isin value="NO0010310956"/>
          <ticker value="SALM NO"/>
        </identifiers>
        <balance>28234</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1321609.7</valUSD>
        <pctVal>0.0673584072</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAP SE-BBRALO</name>
        <lei>N/A</lei>
        <title>SAP SE-BBRALO</title>
        <cusip>D66992104</cusip>
        <identifiers>
          <isin value="DE0007164600"/>
          <ticker value="SAP GR"/>
        </identifiers>
        <balance>26011</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3984942.74</valUSD>
        <pctVal>0.2031003522</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SINGAPORE EXCHANGE NPV-BBRALO</name>
        <lei>N/A</lei>
        <title>SINGAPORE EXCHANGE NPV-BBRALO</title>
        <cusip>Y79946102</cusip>
        <identifiers>
          <isin value="SG1J26887955"/>
          <ticker value="SGX SP"/>
        </identifiers>
        <balance>200300</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3728960.53</valUSD>
        <pctVal>0.1900537214</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHELL PLC-BBRALO</name>
        <lei>N/A</lei>
        <title>SHELL PLC-BBRALO</title>
        <cusip>G80827101</cusip>
        <identifiers>
          <isin value="GB00BP6MXD84"/>
          <ticker value="SHEL LN"/>
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        <balance>161652</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6292824.57</valUSD>
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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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SIGNET JEWELERS LIMITED SHS</name>
        <lei>N/A</lei>
        <title>SIGNET JEWELERS LIMITED SHS</title>
        <cusip>G81276100</cusip>
        <identifiers>
          <isin value="BMG812761002"/>
          <ticker value="SIG"/>
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        <balance>162425</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14001035</valUSD>
        <pctVal>0.7135899625</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SIMPSON MANUFACTURING CO INC COM</name>
        <lei>N/A</lei>
        <title>SIMPSON MANUFACTURING CO INC COM</title>
        <cusip>829073105</cusip>
        <identifiers>
          <isin value="US8290731053"/>
          <ticker value="SSD"/>
        </identifiers>
        <balance>85000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17794750</valUSD>
        <pctVal>0.9069440212</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>STANTEC INC COM-BBRALO</name>
        <lei>N/A</lei>
        <title>STANTEC INC COM-BBRALO</title>
        <cusip>85472N109</cusip>
        <identifiers>
          <isin value="CA85472N1096"/>
          <ticker value="STN CN"/>
        </identifiers>
        <balance>67503</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4654198.04</valUSD>
        <pctVal>0.2372102494</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>SCORPIO TANKERS INC SHS</name>
        <lei>N/A</lei>
        <title>SCORPIO TANKERS INC SHS</title>
        <cusip>Y7542C130</cusip>
        <identifiers>
          <isin value="MHY7542C1306"/>
          <ticker value="STNG"/>
        </identifiers>
        <balance>122008</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8450274.08</valUSD>
        <pctVal>0.4306846432</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SCHNEIDER ELECTRIC EUR4.00-BBRALO</name>
        <lei>N/A</lei>
        <title>SCHNEIDER ELECTRIC EUR4.00-BBRALO</title>
        <cusip>F86921107</cusip>
        <identifiers>
          <isin value="FR0000121972"/>
          <ticker value="SU FP"/>
        </identifiers>
        <balance>33090</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10797195.7</valUSD>
        <pctVal>0.5503000653</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUNCORP GROUP LTD NPV-BBRALO</name>
        <lei>N/A</lei>
        <title>SUNCORP GROUP LTD NPV-BBRALO</title>
        <cusip>Q8802S103</cusip>
        <identifiers>
          <isin value="AU000000SUN6"/>
          <ticker value="SUN AU"/>
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        <balance>396829</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5303267.25</valUSD>
        <pctVal>0.2702913233</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TORONTO-DOMINION BANK-BBRALO</name>
        <lei>N/A</lei>
        <title>TORONTO-DOMINION BANK-BBRALO</title>
        <cusip>891160509</cusip>
        <identifiers>
          <isin value="CA8911605092"/>
          <ticker value="TD CN"/>
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        <balance>61950</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7529626.79</valUSD>
        <pctVal>0.3837620646</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>TELEDYNE TECHNOLOGIES INC</name>
        <lei>N/A</lei>
        <title>TELEDYNE TECHNOLOGIES INC</title>
        <cusip>879360105</cusip>
        <identifiers>
          <isin value="US8793601050"/>
          <ticker value="TDY"/>
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        <balance>63651</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>42448851.9</valUSD>
        <pctVal>2.1634882445</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>TELE2 AB SER'B'NPV-BBRALO</name>
        <lei>N/A</lei>
        <title>TELE2 AB SER'B'NPV-BBRALO</title>
        <cusip>W95878166</cusip>
        <identifiers>
          <isin value="SE0005190238"/>
          <ticker value="TEL2B SS"/>
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        <balance>254301</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4431411.33</valUSD>
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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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TEEKAY TANKERS LTD CL A</name>
        <lei>N/A</lei>
        <title>TEEKAY TANKERS LTD CL A</title>
        <cusip>G8726X106</cusip>
        <identifiers>
          <isin value="BMG8726X1065"/>
          <ticker value="TNK"/>
        </identifiers>
        <balance>128711</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8349482.57</valUSD>
        <pctVal>0.4255476080</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TEXAS PACIFIC LAND CORP</name>
        <lei>N/A</lei>
        <title>TEXAS PACIFIC LAND CORP</title>
        <cusip>88262P102</cusip>
        <identifiers>
          <isin value="US88262P1021"/>
          <ticker value="TPL"/>
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        <balance>15948</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6979482.72</valUSD>
        <pctVal>0.3557229028</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>TRYG A/S-BBRALO</name>
        <lei>N/A</lei>
        <title>TRYG A/S-BBRALO</title>
        <cusip>K9640A110</cusip>
        <identifiers>
          <isin value="DK0060636678"/>
          <ticker value="TRYG DC"/>
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        <balance>376445</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8573365</valUSD>
        <pctVal>0.4369582112</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ELEVANCE HEALTH INC</name>
        <lei>N/A</lei>
        <title>ELEVANCE HEALTH INC</title>
        <cusip>036752103</cusip>
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          <isin value="US0367521038"/>
          <ticker value="ELV"/>
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        <balance>35445</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13707644.85</valUSD>
        <pctVal>0.6986367632</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>
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      </invstOrSec>
      <invstOrSec>
        <name>EMPIRE LTD CL A-BBRALO</name>
        <lei>N/A</lei>
        <title>EMPIRE LTD CL A-BBRALO</title>
        <cusip>291843407</cusip>
        <identifiers>
          <isin value="CA2918434077"/>
          <ticker value="EMP/A CN"/>
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        <balance>70716</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2475745.36</valUSD>
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        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>ENEL SPA EUR1-BBRALO</name>
        <lei>N/A</lei>
        <title>ENEL SPA EUR1-BBRALO</title>
        <cusip>T3679P115</cusip>
        <identifiers>
          <isin value="IT0003128367"/>
          <ticker value="ENEL IM"/>
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        <balance>691077</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7943749.82</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EURONEXT EUR1.60-BBRALO</name>
        <lei>N/A</lei>
        <title>EURONEXT EUR1.60-BBRALO</title>
        <cusip>N3113K397</cusip>
        <identifiers>
          <isin value="NL0006294274"/>
          <ticker value="ENX FP"/>
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        <balance>49719</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7958123.21</valUSD>
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        <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>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Fastenal Co</name>
        <lei>N/A</lei>
        <title>Fastenal Co</title>
        <cusip>311900104</cusip>
        <identifiers>
          <isin value="US3119001044"/>
          <ticker value="FAST"/>
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        <balance>415981</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19979567.43</valUSD>
        <pctVal>1.0182974882</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>FOX CORP - CLASS A</name>
        <lei>N/A</lei>
        <title>FOX CORP - CLASS A</title>
        <cusip>35137L105</cusip>
        <identifiers>
          <isin value="US35137L1052"/>
          <ticker value="FOXA"/>
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        <balance>244335</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12744513.6</valUSD>
        <pctVal>0.6495489070</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>FRESENIUS SE &amp; CO KGAA-BBRALO</name>
        <lei>N/A</lei>
        <title>FRESENIUS SE &amp; CO KGAA-BBRALO</title>
        <cusip>004352097</cusip>
        <identifiers>
          <isin value="DE0005785604"/>
          <ticker value="FRE GR"/>
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        <balance>48306</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2207473.32</valUSD>
        <pctVal>0.1125081684</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GALENICA AG-BBRALO</name>
        <lei>N/A</lei>
        <title>GALENICA AG-BBRALO</title>
        <cusip>H85158113</cusip>
        <identifiers>
          <isin value="CH0360674466"/>
          <ticker value="GALE SW"/>
        </identifiers>
        <balance>18594</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1943189.98</valUSD>
        <pctVal>0.0990384543</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Graco Inc</name>
        <lei>N/A</lei>
        <title>Graco Inc</title>
        <cusip>384109104</cusip>
        <identifiers>
          <isin value="US3841091040"/>
          <ticker value="GGG"/>
        </identifiers>
        <balance>178132</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13468560.52</valUSD>
        <pctVal>0.6864513656</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>Graco Inc</name>
        <lei>N/A</lei>
        <title>Graco Inc</title>
        <cusip>384109104</cusip>
        <identifiers>
          <isin value="US3841091040"/>
          <ticker value="GGG"/>
        </identifiers>
        <balance>387315</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>29284887.15</valUSD>
        <pctVal>1.4925611944</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>GLANBIA PLC-BBRALO</name>
        <lei>N/A</lei>
        <title>GLANBIA PLC-BBRALO</title>
        <cusip>G39021103</cusip>
        <identifiers>
          <isin value="IE0000669501"/>
          <ticker value="GLB ID"/>
        </identifiers>
        <balance>190386</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5324167.37</valUSD>
        <pctVal>0.2713565385</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>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GENTEX CORP COM</name>
        <lei>N/A</lei>
        <title>GENTEX CORP COM</title>
        <cusip>371901109</cusip>
        <identifiers>
          <isin value="US3719011096"/>
          <ticker value="GNTX"/>
        </identifiers>
        <balance>111154</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2808861.58</valUSD>
        <pctVal>0.1431590900</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>GAZTRANSPORT-W/I-BBRALO</name>
        <lei>N/A</lei>
        <title>GAZTRANSPORT-W/I-BBRALO</title>
        <cusip>F42674113</cusip>
        <identifiers>
          <isin value="FR0011726835"/>
          <ticker value="GTT FP"/>
        </identifiers>
        <balance>14760</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3137082.83</valUSD>
        <pctVal>0.1598875240</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WARRIOR MET COAL INC</name>
        <lei>N/A</lei>
        <title>WARRIOR MET COAL INC</title>
        <cusip>93627C101</cusip>
        <identifiers>
          <isin value="US93627C1018"/>
          <ticker value="HCC"/>
        </identifiers>
        <balance>149253</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12113373.48</valUSD>
        <pctVal>0.6173816241</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>HEICO CORP NEW CL A</name>
        <lei>N/A</lei>
        <title>HEICO CORP NEW CL A</title>
        <cusip>422806208</cusip>
        <identifiers>
          <isin value="US4228062083"/>
          <ticker value="HEI/A"/>
        </identifiers>
        <balance>162000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>41781420</valUSD>
        <pctVal>2.1294712805</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>HEICO CORP NEW CL A</name>
        <lei>N/A</lei>
        <title>HEICO CORP NEW CL A</title>
        <cusip>422806208</cusip>
        <identifiers>
          <isin value="US4228062083"/>
          <ticker value="HEI/A"/>
        </identifiers>
        <balance>121075.04</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31226463.55</valUSD>
        <pctVal>1.5915174094</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>HINGHAM INSTN SVGS MASS COM</name>
        <lei>N/A</lei>
        <title>HINGHAM INSTN SVGS MASS COM</title>
        <cusip>433323102</cusip>
        <identifiers>
          <isin value="US4333231029"/>
          <ticker value="HIFS"/>
        </identifiers>
        <balance>36182</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11113301.3</valUSD>
        <pctVal>0.5664110016</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>HALEON PLC-BBRALO</name>
        <lei>N/A</lei>
        <title>HALEON PLC-BBRALO</title>
        <cusip>G4232K100</cusip>
        <identifiers>
          <isin value="GB00BMX86B70"/>
          <ticker value="HLN LN"/>
        </identifiers>
        <balance>320312</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1478190.41</valUSD>
        <pctVal>0.0753388474</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>HP INC COM</name>
        <lei>N/A</lei>
        <title>HP INC COM</title>
        <cusip>40434L105</cusip>
        <identifiers>
          <isin value="US40434L1052"/>
          <ticker value="HPQ"/>
        </identifiers>
        <balance>569075</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12485505.5</valUSD>
        <pctVal>0.6363480558</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>
    <explntrNotes>
      <explntrNote note="The fund is reporting returns without deducting sales loads and redemption fees, if applicable.&#10;" noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-07-20</ncom:dateSigned>
      <ncom:nameOfApplicant>BBR ALO Fund, LLC.</ncom:nameOfApplicant>
      <ncom:signature>/s/ Matthew Shapiro</ncom:signature>
      <ncom:signerName>Matthew Shapiro</ncom:signerName>
      <ncom:title>Principal Executive Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
