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        <fairValLevel>2</fairValLevel>
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        <name>ASM INTERNATIONAL NV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ASML HOLDING NV</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>AVIVA PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>BP PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BT GROUP PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>CIE FINANCIERE RICHEMONT UTS A</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>COLES GROUP LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>COMPAGNIE DE SAINT GOBAIN</name>
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        <fairValLevel>2</fairValLevel>
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        <name>COMPASS GROUP PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CVC CAPITAL PARTNERS PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>DASSAULT AVIATION SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DBS GROUP HOLDINGS LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>DEUTSCHE TELEKOM AG-REG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DHL GROUP</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>ENEL SPA</name>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FUJIKURA LTD</name>
        <lei>353800PSDZ8VRCKVPL51</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FUJITSU LIMITED</name>
        <lei>3538000246DHJLRTUZ24</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GALP ENERGIA SGPS SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GENERALI</name>
        <lei>549300X5UKJVE386ZB61</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GLENCORE PLC</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GREAT-WEST LIFECO INC</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GSK PLC-SPON ADR</name>
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        <fairValLevel>1</fairValLevel>
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        <name>HANNOVER RUECK SE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HEIDELBERG MATERIALS AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HITACHI LTD</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>HYUNDAI MOTOR CO</name>
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        <fairValLevel>2</fairValLevel>
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        <name>IBERDROLA SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>IMPERIAL BRANDS PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>INFINEON TECHNOLOGIES AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>INFORMA PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ING GROEP NV CVA NLG1</name>
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        <fairValLevel>2</fairValLevel>
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        <name>INTERCONTINENTAL HOTELS GROU</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ISETAN MITSUKOSHI HOLDINGS L</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JERONIMO MARTINS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KDDI CORP</name>
        <lei>5299003FU7V4I45FU310</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>KEYENCE CORP</name>
        <lei>529900M7PQBS7A89DZ11</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>KINGSPAN GROUP PLC</name>
        <lei>635400HM7V74SUB9OG75</lei>
        <title>KINGSPAN GROUP PLC COMMON STOCK EUR.13</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>NATIONAL GRID PLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NESTLE SA-REG</name>
        <lei>KY37LUS27QQX7BB93L28</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>NIPPON SANSO HOLDINGS CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NIPPON STEEL CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NITERRA CO LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NOVARTIS AG-REG</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>NOVO NORDISK A/S-B</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OJI HOLDINGS CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OLYMPUS CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OMV AG</name>
        <lei>549300V62YJ9HTLRI486</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>AT</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>ORANGE</name>
        <lei>969500MCOONR8990S771</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>ORIX CORP</name>
        <lei>35380016EMHNBOVYE123</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>ORSTED A/S</name>
        <lei>W9NG6WMZIYEU8VEDOG48</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>OTP BANK PLC</name>
        <lei>529900W3MOO00A18X956</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>POSTE ITALIANE SPA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PROSUS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PRUDENTIAL PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>QIAGEN N.V.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>RECRUIT HOLDINGS CO LTD</name>
        <lei>353800R2LRSMVVC4I806</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>RELX PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RENESAS ELECTRONICS CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RESONA HOLDINGS INC</name>
        <lei>52990067JE75XZCYYT81</lei>
        <title>RESONA HOLDINGS INC COMMON STOCK</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ROLLS-ROYCE HOLDINGS PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RYANAIR HOLDINGS PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SAFRAN SA</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>SANDVIK AB</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>SAP SE</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>SHELL PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>SMITHS GROUP PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SOCIETE GENERALE SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SOFTBANK GROUP CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>SONY GROUP CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SPIE SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SPOTIFY TECHNOLOGY SA</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SSE PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>STATE STREET INS US GO MM FD-IS</name>
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        <fairValLevel>1</fairValLevel>
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        <name>STORA ENSO OYJ-R SHS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SUMITOMO CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>TOTALENERGIES SE</name>
        <lei>529900S21EQ1BO4ESM68</lei>
        <title>TOTALENERGIES SE COMMON STOCK EUR2.5</title>
        <cusip>89150A991</cusip>
        <identifiers>
          <isin value="FR0000120271"/>
        </identifiers>
        <balance>240173.000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.867190"/>
        <valUSD>21173761.520000</valUSD>
        <pctVal>1.3377093543</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TOWER SEMICONDUCTOR LTD</name>
        <lei>54930086ZSNXZOUX0C54</lei>
        <title>TOWER SEMICONDUCTOR LTD COMMON STOCK ILS15.0</title>
        <cusip>M87915274</cusip>
        <identifiers>
          <isin value="IL0010823792"/>
        </identifiers>
        <balance>29480.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6475871.600000</valUSD>
        <pctVal>0.4091306123</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>TOYOTA MOTOR CORP</name>
        <lei>5493006W3QUS5LMH6R84</lei>
        <title>TOYOTA MOTOR CORP COMMON STOCK</title>
        <cusip>892331315</cusip>
        <identifiers>
          <isin value="JP3633400001"/>
        </identifiers>
        <balance>656200.000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.105000"/>
        <valUSD>12418365.270000</valUSD>
        <pctVal>0.7845636389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GRS - SECURITY LENDING COLLATERAL</name>
        <lei>5493002Y0IYARJVQ5N24</lei>
        <title>TREASURY RESERVE FUND - Collateral</title>
        <cusip>76105YYY9</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="76105YYY9"/>
        </identifiers>
        <balance>23578832.850000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23578832.850000</valUSD>
        <pctVal>1.4896562066</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="23578832.850000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UBS GROUP AG-REG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS GROUP AG REG COMMON STOCK USD.1</title>
        <cusip>TC9U446H3</cusip>
        <identifiers>
          <isin value="CH0244767585"/>
        </identifiers>
        <balance>301225.000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.808450"/>
        <valUSD>15922039.980000</valUSD>
        <pctVal>1.0059177157</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UCB SA</name>
        <lei>2138008J191VLSGY5A09</lei>
        <title>UCB SA COMMON STOCK</title>
        <cusip>902BE9993</cusip>
        <identifiers>
          <isin value="BE0003739530"/>
        </identifiers>
        <balance>9735.000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.867190"/>
        <valUSD>2498813.030000</valUSD>
        <pctVal>0.1578692365</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNICREDIT SPA</name>
        <lei>549300TRUWO2CD2G5692</lei>
        <title>UNICREDIT SPA COMMON STOCK</title>
        <cusip>904IT9990</cusip>
        <identifiers>
          <isin value="IT0005239360"/>
        </identifiers>
        <balance>281404.000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.867190"/>
        <valUSD>26539726.580000</valUSD>
        <pctVal>1.6767186346</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNILEVER PLC</name>
        <lei>549300MKFYEKVRWML317</lei>
        <title>UNILEVER PLC COMMON STOCK GBP.00031111</title>
        <cusip>904767993</cusip>
        <identifiers>
          <isin value="GB00BVZK7T90"/>
        </identifiers>
        <balance>374353.000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.741977"/>
        <valUSD>23819179.530000</valUSD>
        <pctVal>1.5048407548</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNIMICRON TECHNOLOGY CORP</name>
        <lei>529900552WPFHC1YI579</lei>
        <title>UNIMICRON TECHNOLOGY CORP COMMON STOCK TWD10.0</title>
        <cusip>9048TW991</cusip>
        <identifiers>
          <isin value="TW0003037008"/>
        </identifiers>
        <balance>222000.000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.319000"/>
        <valUSD>5208779.040000</valUSD>
        <pctVal>0.3290786306</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITED OVERSEAS BANK LTD</name>
        <lei>IO66REGK3RCBAMA8HR66</lei>
        <title>UNITED OVERSEAS BANK LTD COMMON STOCK</title>
        <cusip>9112SG991</cusip>
        <identifiers>
          <isin value="SG1M31001969"/>
        </identifiers>
        <balance>263393.000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.282450"/>
        <valUSD>8907706.860000</valUSD>
        <pctVal>0.5627683480</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UPM-KYMMENE OYJ</name>
        <lei>213800EC6PW5VU4J9U64</lei>
        <title>UPM KYMMENE OYJ COMMON STOCK</title>
        <cusip>915436992</cusip>
        <identifiers>
          <isin value="FI0009005987"/>
        </identifiers>
        <balance>190102.000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.867190"/>
        <valUSD>5171873.550000</valUSD>
        <pctVal>0.3267470270</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VINCI SA</name>
        <lei>213800WFQ334R8UXUG83</lei>
        <title>VINCI SA COMMON STOCK EUR2.5</title>
        <cusip>927FR9991</cusip>
        <identifiers>
          <isin value="FR0000125486"/>
        </identifiers>
        <balance>70317.000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.867190"/>
        <valUSD>9928249.710000</valUSD>
        <pctVal>0.6272438884</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WARTSILA OYJ ABP</name>
        <lei>743700G7A9J1PHM3X223</lei>
        <title>WARTSILA OYJ ABP COMMON STOCK</title>
        <cusip>936FI9982</cusip>
        <identifiers>
          <isin value="FI0009003727"/>
        </identifiers>
        <balance>73358.000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.867190"/>
        <valUSD>2487737.120000</valUSD>
        <pctVal>0.1571694861</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WESTPAC BANKING CORP</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
        <title>WESTPAC BANKING CORP COMMON STOCK</title>
        <cusip>955999990</cusip>
        <identifiers>
          <isin value="AU000000WBC1"/>
        </identifiers>
        <balance>138222.000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.421161"/>
        <valUSD>3665269.900000</valUSD>
        <pctVal>0.2315632877</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ZHONGJI INNOLIGHT CO LTD-H SHS</name>
        <lei>655600K7YZDKAI214O83</lei>
        <title>ZHONGJI INNOLIGHT CO LTD H COMMON STOCK CNY1.0</title>
        <cusip>TC4GDK3R4</cusip>
        <identifiers>
          <isin value="CNE100007SR6"/>
        </identifiers>
        <balance>21200.000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.842400"/>
        <valUSD>2778945.220000</valUSD>
        <pctVal>0.1755673413</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-09-02</ncom:dateSigned>
      <ncom:nameOfApplicant>T. Rowe Price Exchange-Traded Funds, Inc.</ncom:nameOfApplicant>
      <ncom:signature>/s/ Alan Dupski</ncom:signature>
      <ncom:signerName>Alan Dupski</ncom:signerName>
      <ncom:title>Treasurer &amp; Vice President</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
