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        <fairValLevel>N/A</fairValLevel>
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        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Apex Investment PSC</name>
        <lei>N/A</lei>
        <title>APEX INVESTMENT CO PSC</title>
        <cusip>M81963106</cusip>
        <identifiers>
          <isin value="AER000401011"/>
          <other otherDesc="Internal" value="B0LX4Y9"/>
        </identifiers>
        <balance>207988.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>203203.02000000</valUSD>
        <pctVal>0.067183648645</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF SHARJAH P.J.S.C.</name>
        <lei>635400NBMEM4UME2TO15</lei>
        <title>BANK OF SHARJAH</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEB000101011"/>
          <other otherDesc="Internal" value="B0MLBF2"/>
        </identifiers>
        <balance>4013423.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>1486875.43000000</valUSD>
        <pctVal>0.491595629182</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dana Gas PJSC</name>
        <lei>254900RDMPHWDEJBUW56</lei>
        <title>DANA GAS PJSC</title>
        <cusip>M27014105</cusip>
        <identifiers>
          <isin value="AED000701014"/>
          <other otherDesc="Internal" value="B0VR4L8"/>
        </identifiers>
        <balance>12961769.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>2937396.62000000</valUSD>
        <pctVal>0.971171700354</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHARJAH ISLAMIC BANK PJSC</name>
        <lei>254900ZQNTQPRR3WFS97</lei>
        <title>SHARJAH ISLAMIC BANK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AES000201013"/>
          <other otherDesc="Internal" value="B102875"/>
        </identifiers>
        <balance>4030405.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>3207163.48000000</valUSD>
        <pctVal>1.060362904001</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GULF GENERAL INVESTMENT CO</name>
        <lei>N/A</lei>
        <title>GULF GENERAL INVESTMENT CO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEG000301016"/>
          <other otherDesc="Internal" value="B125MW5"/>
        </identifiers>
        <balance>7295803.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>19.86000000</valUSD>
        <pctVal>0.000006566178</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RAK Properties PJSC</name>
        <lei>N/A</lei>
        <title>RAK PROPERTIES PJSC</title>
        <cusip>M81868107</cusip>
        <identifiers>
          <isin value="AER000601016"/>
          <other otherDesc="Internal" value="B12B5X5"/>
        </identifiers>
        <balance>5314798.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>1536251.74000000</valUSD>
        <pctVal>0.507920586668</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMIRATES INTEGRATED TELECOMMUNICATIONS COMPANY PJSC</name>
        <lei>254900USBXS6XN200K29</lei>
        <title>EMIRATES INTEGRATED TELECOMMUNICATIONS CO PJSC</title>
        <cusip>M4028J104</cusip>
        <identifiers>
          <isin value="AEE000701012"/>
          <other otherDesc="Internal" value="B13TMN7"/>
        </identifiers>
        <balance>11946.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>36947.57000000</valUSD>
        <pctVal>0.012215726720</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Abu Dhabi National Hotels Company PJSC</name>
        <lei>N/A</lei>
        <title>ABU DHABI NATIONAL HOTELS</title>
        <cusip>M0152U105</cusip>
        <identifiers>
          <isin value="AEA000301019"/>
          <other otherDesc="Internal" value="B15CLM6"/>
        </identifiers>
        <balance>20430835.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>2271491.05000000</valUSD>
        <pctVal>0.751007817721</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Etihad Energy Holding P.J.S.C</name>
        <lei>984500854E13DB5DMB85</lei>
        <title>ETIHAD ENERGY HOLDING PJSC</title>
        <cusip>M5245S108</cusip>
        <identifiers>
          <isin value="AEG000601019"/>
          <other otherDesc="Internal" value="B16B4G7"/>
        </identifiers>
        <balance>1961221.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>1655286.65000000</valUSD>
        <pctVal>0.547276298852</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DUBAI FINANCIAL MARKET - PJSC</name>
        <lei>N/A</lei>
        <title>DUBAI FINANCIAL MARKET PJSC</title>
        <cusip>M28814107</cusip>
        <identifiers>
          <isin value="AED000901010"/>
          <other otherDesc="Internal" value="B1GPBP7"/>
        </identifiers>
        <balance>4562143.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>1710038.73000000</valUSD>
        <pctVal>0.565378611039</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Al Waha Capital PJSC</name>
        <lei>2549004ABNJPGWQCUU67</lei>
        <title>AL WAHA CAPITAL PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEA000701010"/>
          <other otherDesc="Internal" value="B1X5Y51"/>
        </identifiers>
        <balance>3021154.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>1661749.39000000</valUSD>
        <pctVal>0.549413031138</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AIR ARABIA PJSC</name>
        <lei>21380058Y5RCZI2HBX17</lei>
        <title>AIR ARABIA PJSC</title>
        <cusip>M0367N110</cusip>
        <identifiers>
          <isin value="AEA003001012"/>
          <other otherDesc="Internal" value="B23DL40"/>
        </identifiers>
        <balance>4655036.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>6334717.51000000</valUSD>
        <pctVal>2.094405070655</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Deyaar Development PJSC</name>
        <lei>N/A</lei>
        <title>DEYAAR DEVELOPMENT PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AED001001018"/>
          <other otherDesc="Internal" value="B24F8T9"/>
        </identifiers>
        <balance>4669379.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>898894.26000000</valUSD>
        <pctVal>0.297195367142</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMIRATES NBD BANK (P.J.S.C)</name>
        <lei>54930029BCN8HF3B1286</lei>
        <title>EMIRATES NBD BANK PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEE000801010"/>
          <other otherDesc="Internal" value="B28PFX8"/>
        </identifiers>
        <balance>3219257.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>26306976.75000000</valUSD>
        <pctVal>8.697698896886</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ajman Bank PJSC</name>
        <lei>254900AI4SJIWRIO1C04</lei>
        <title>AJMAN BANK PJSC</title>
        <cusip>M0371T103</cusip>
        <identifiers>
          <isin value="AEA003201018"/>
          <other otherDesc="Internal" value="B3B53V6"/>
        </identifiers>
        <balance>3793846.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>1466739.63000000</valUSD>
        <pctVal>0.484938264974</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Eshraq Investments PJSC</name>
        <lei>N/A</lei>
        <title>ESHRAQ INVESTMENTS PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEE000901018"/>
          <other otherDesc="Internal" value="B5VJ8Z1"/>
        </identifiers>
        <balance>8071752.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>1261434.45000000</valUSD>
        <pctVal>0.417059593298</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NMC HEALTH PLC</name>
        <lei>N/A</lei>
        <title>NMC HEALTH PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00B7FC0762"/>
          <other otherDesc="Internal" value="B7FC076"/>
        </identifiers>
        <balance>112588.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.73800700"/>
        <valUSD>1.53000000</valUSD>
        <pctVal>0.000000505853</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Emaar Development PJSC</name>
        <lei>N/A</lei>
        <title>EMAAR DEVELOPMENT PJSC</title>
        <cusip>M4100K102</cusip>
        <identifiers>
          <isin value="AEE001901017"/>
          <other otherDesc="Internal" value="BDG1977"/>
        </identifiers>
        <balance>1134988.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>3928179.63000000</valUSD>
        <pctVal>1.298747627266</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Modon Holding PSC</name>
        <lei>213800AFVSMXPU41HQ02</lei>
        <title>MODON HOLDING PSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEA006501018"/>
          <other otherDesc="Internal" value="BF0R9V9"/>
        </identifiers>
        <balance>428214.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>329896.39000000</valUSD>
        <pctVal>0.109071425981</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dubai Electricity and Water Authority PJSC</name>
        <lei>N/A</lei>
        <title>DUBAI ELECTRICITY WATER AUTHORITY PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AED001801011"/>
          <other otherDesc="Internal" value="BJLTVJ4"/>
        </identifiers>
        <balance>11364479.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>8346813.55000000</valUSD>
        <pctVal>2.759650859780</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SALIK COMPANY P.J.S.C.</name>
        <lei>N/A</lei>
        <title>SALIK CO PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEE01110S227"/>
          <other otherDesc="Internal" value="BJN5952"/>
        </identifiers>
        <balance>3635957.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>5351519.50000000</valUSD>
        <pctVal>1.769336921309</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Space42 PLC</name>
        <lei>N/A</lei>
        <title>SPACE42 PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEE01122B228"/>
          <other otherDesc="Internal" value="BLB04V4"/>
        </identifiers>
        <balance>3408325.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>1702220.57000000</valUSD>
        <pctVal>0.562793745349</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ADNOC DRILLING COMPANY P.J.S.C.</name>
        <lei>N/A</lei>
        <title>ADNOC DRILLING CO PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEA007301012"/>
          <other otherDesc="Internal" value="BN12D39"/>
        </identifiers>
        <balance>5184172.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>8130770.71000000</valUSD>
        <pctVal>2.688222067752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INVESTCORP CAPITAL PLC</name>
        <lei>213800CSW4HGPDPLPV23</lei>
        <title>INVESTCORP CAPITAL PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEE01354I230"/>
          <other otherDesc="Internal" value="BN49J62"/>
        </identifiers>
        <balance>2929074.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>1220131.83000000</valUSD>
        <pctVal>0.403403985668</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lulu Retail Holdings PLC</name>
        <lei>N/A</lei>
        <title>LULU RETAIL HOLDINGS PLC</title>
        <cusip>M6745H105</cusip>
        <identifiers>
          <isin value="AEE01487L240"/>
          <other otherDesc="Internal" value="BNG1TF5"/>
        </identifiers>
        <balance>8039390.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>2102220.06000000</valUSD>
        <pctVal>0.695042888076</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Two Point Zero Group P.J.S.C</name>
        <lei>N/A</lei>
        <title>TWO POINT ZERO GROUP PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEM001001019"/>
          <other otherDesc="Internal" value="BP0PMS1"/>
        </identifiers>
        <balance>352583.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>202630.84000000</valUSD>
        <pctVal>0.066994472618</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Taaleem Holdings PJSC</name>
        <lei>N/A</lei>
        <title>TAALEEM HOLDINGS PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEE01136T220"/>
          <other otherDesc="Internal" value="BP6DQ54"/>
        </identifiers>
        <balance>898496.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>759363.29000000</valUSD>
        <pctVal>0.251063180407</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Americana Restaurants International PLC</name>
        <lei>N/A</lei>
        <title>AMERICANA RESTAURANTS INTERNATIONAL PLC</title>
        <cusip>M0859X105</cusip>
        <identifiers>
          <isin value="AEE01135A222"/>
          <other otherDesc="Internal" value="BPCMH29"/>
        </identifiers>
        <balance>6655115.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>4402981.11000000</valUSD>
        <pctVal>1.455728049155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ADNOC GAS PLC</name>
        <lei>N/A</lei>
        <title>ADNOC GAS PLC</title>
        <cusip>M0R823101</cusip>
        <identifiers>
          <isin value="AEE01195A234"/>
          <other otherDesc="Internal" value="BPJLW35"/>
        </identifiers>
        <balance>11461745.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>10139227.14000000</valUSD>
        <pctVal>3.352264517087</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Emirates Central Cooling Systems Corporation P.J.S.C</name>
        <lei>N/A</lei>
        <title>EMIRATES CENTRAL COOLING SYSTEMS CORP</title>
        <cusip>M4R2AB109</cusip>
        <identifiers>
          <isin value="AEE01134E227"/>
          <other otherDesc="Internal" value="BPYSVC3"/>
        </identifiers>
        <balance>5215098.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>2244455.62000000</valUSD>
        <pctVal>0.742069275223</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Spinneys 1961 Holding PLC</name>
        <lei>N/A</lei>
        <title>SPINNEYS 1961 HOLDING PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEE01377S248"/>
          <other otherDesc="Internal" value="BQ68C25"/>
        </identifiers>
        <balance>3792056.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>1332804.21000000</valUSD>
        <pctVal>0.440656097325</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Phoenix Group PLC</name>
        <lei>N/A</lei>
        <title>PHOENIX GROUP PLC</title>
        <cusip>M7S90S100</cusip>
        <identifiers>
          <isin value="AEE01357P238"/>
          <other otherDesc="Internal" value="BQ759B3"/>
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        <balance>5173591.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>809925.22000000</valUSD>
        <pctVal>0.267780131464</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DUBAI TAXI COMPANY P.J.S.C.</name>
        <lei>N/A</lei>
        <title>DUBAI TAXI CO PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEE01356D236"/>
          <other otherDesc="Internal" value="BQ7VXK8"/>
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        <balance>2390186.00000000</balance>
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        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>1470703.48000000</valUSD>
        <pctVal>0.486248806056</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NMDC ENERGY PJSC</name>
        <lei>98450002B5J792BUCB43</lei>
        <title>NMDC ENERGY</title>
        <cusip>M73023109</cusip>
        <identifiers>
          <isin value="AEE01456N241"/>
          <other otherDesc="Internal" value="BQB80S2"/>
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        <balance>263826.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>207832.91000000</valUSD>
        <pctVal>0.068714398055</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ADNOC Logistics &amp; Services PLC</name>
        <lei>N/A</lei>
        <title>ADNOC LOGISTICS SERVICES</title>
        <cusip>M0R824109</cusip>
        <identifiers>
          <isin value="AEE01268A239"/>
          <other otherDesc="Internal" value="BRBN103"/>
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        <balance>3376810.00000000</balance>
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        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>6348004.44000000</valUSD>
        <pctVal>2.098798039011</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AGILITY GLOBAL PLC</name>
        <lei>254900GCYJAY76VZD570</lei>
        <title>AGILITY GLOBAL PLC</title>
        <cusip>M0R82C101</cusip>
        <identifiers>
          <isin value="AEE01376A248"/>
          <other otherDesc="Internal" value="BRJRYF3"/>
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        <balance>9202753.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>4209320.86000000</valUSD>
        <pctVal>1.391699462412</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PARKIN COMPANY P.J.S.C.</name>
        <lei>N/A</lei>
        <title>PARKIN CO PJSC</title>
        <cusip>M75283107</cusip>
        <identifiers>
          <isin value="AEE01370P249"/>
          <other otherDesc="Internal" value="BRRGQF6"/>
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        <balance>1831009.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>2866666.10000000</valUSD>
        <pctVal>0.947786543952</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Alef Education Holding PLC</name>
        <lei>N/A</lei>
        <title>ALEF EDUCATION HOLDING PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEE01388A243"/>
          <other otherDesc="Internal" value="BS4DNW3"/>
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        <balance>5159687.00000000</balance>
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        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>1377331.69000000</valUSD>
        <pctVal>0.455377918740</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Dubai Residential REIT</name>
        <lei>N/A</lei>
        <title>DUBAI RESIDENTIAL REIT</title>
        <cusip>M28898100</cusip>
        <identifiers>
          <isin value="AEE01657D252"/>
          <other otherDesc="Internal" value="BSTQTQ3"/>
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        <balance>5428446.00000000</balance>
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        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>1921157.37000000</valUSD>
        <pctVal>0.635179347919</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="UNITS"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Amanat Holdings PJSC</name>
        <lei>N/A</lei>
        <title>AMANAT HOLDINGS PJSC</title>
        <cusip>M08598100</cusip>
        <identifiers>
          <isin value="AEA005901011"/>
          <other otherDesc="Internal" value="BSZM277"/>
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        <balance>3582990.00000000</balance>
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        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>1424240.84000000</valUSD>
        <pctVal>0.470887175698</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALEC Holdings PJSC</name>
        <lei>N/A</lei>
        <title>ALEC HOLDINGS PJSC</title>
        <cusip>M223A8105</cusip>
        <identifiers>
          <isin value="AEE01710A255"/>
          <other otherDesc="Internal" value="BTMK248"/>
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        <balance>3483289.00000000</balance>
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        <currencyConditional curCd="AED" exchangeRt="3.67295000"/>
        <valUSD>1289773.35000000</valUSD>
        <pctVal>0.426429093321</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ABU DHABI NATIONAL OIL COMPANY FOR DISTRIBUTION PJSC</name>
        <lei>N/A</lei>
        <title>ABU DHABI NATIONAL OIL CO FOR DISTRIBUTION PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEA006101017"/>
          <other otherDesc="Internal" value="BYVGM64"/>
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        <balance>5832156.00000000</balance>
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        <valUSD>6343382.47000000</valUSD>
        <pctVal>2.097269908137</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MSCI EMGMKT SEP26</name>
        <lei>N/A</lei>
        <title>MSCI EMGMKT SEP26</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="MMEU26"/>
          <other otherDesc="INTERNAL" value="MESU62026"/>
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        <balance>20.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>7644.07000000</valUSD>
        <pctVal>0.002527307483</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Index Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>ICE FUTURES U.S.</counterpartyName>
              <counterpartyLei>5493004R83R1LVX2IL36</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>US MSCI Emerging Markets Equity Index Future Sep 2026</indexName>
                <indexIdentifier>MMEU26</indexIdentifier>
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            <expDate>2026-09-18</expDate>
            <notionalAmt>1703455.93000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>7644.07000000</unrealizedAppr>
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        <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>2026-09-30</ncom:dateSigned>
      <ncom:nameOfApplicant>iShares Trust</ncom:nameOfApplicant>
      <ncom:signature>Chuck Pulsfort </ncom:signature>
      <ncom:signerName>Chuck Pulsfort </ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
