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        <name>BlackRock Funds III: BlackRock Cash Funds: Treasury; SL Agency Shares</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TARGET CORPORATION</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>J SAINSBURY PLC</name>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MONSTER BEVERAGE CORPORATION</name>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Altria Group, Inc.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>UNILEVER PLC</name>
        <lei>549300MKFYEKVRWML317</lei>
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          <isin value="GB00BVZK7T90"/>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ANHEUSER-BUSCH INBEV SA</name>
        <lei>5493008H3828EMEXB082</lei>
        <title>ANHEUSER BUSCH INBEV SA NV</title>
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          <isin value="BE0974293251"/>
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        <assetCat>EC</assetCat>
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        <invCountry>BE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ARCHER-DANIELS-MIDLAND COMPANY.</name>
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        <title>ARCHER DANIELS MIDLAND CO</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GEORGE WESTON LIMITEE.</name>
        <lei>549300FAHC3L1QKNT280</lei>
        <title>GEORGE WESTON LTD</title>
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          <isin value="CA9611485090"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>MCCORMICK &amp; COMPANY, INCORPORATED</name>
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        <title>MCCORMICK CO INC</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Nestle S.A.</name>
        <lei>KY37LUS27QQX7BB93L28</lei>
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        <name>COLES GROUP LIMITED</name>
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        <name>COLGATE-PALMOLIVE COMPANY</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Meiji Holdings Co.,Ltd.</name>
        <lei>N/A</lei>
        <title>MEIJI HOLDINGS CO LTD</title>
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        <name>Cencosud S.A.</name>
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        <invCountry>CL</invCountry>
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        <name>Ajinomoto Co., Inc.</name>
        <lei>353800UT0TLROREPIC92</lei>
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        <name>METRO INC.</name>
        <lei>549300KQ7DCG4IXSNW78</lei>
        <title>METRO INC CN</title>
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        <name>Shiseido Company, Limited</name>
        <lei>N/A</lei>
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        <name>FTSE 100 IDX FUT JUN26</name>
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          <isin value="N/A"/>
          <ticker value="XM26"/>
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      <invstOrSec>
        <name>WALMART INC.</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>WALMART INC</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Philip Morris International Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>PHILIP MORRIS INTERNATIONAL</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SYSCO CORPORATION</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
        <title>SYSCO CORP</title>
        <cusip>871829107</cusip>
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          <isin value="US8718291078"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>The Magnum Ice Cream Company N.V.</name>
        <lei>25490052LLF3XH6G9847</lei>
        <title>MAGNUM ICE CREAM CO NV THE</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0015002MS2"/>
          <other otherDesc="Internal" value="BSNMGT9"/>
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        <balance>130079.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BROWN-FORMAN CORPORATION</name>
        <lei>549300873K3LXF7ARU34</lei>
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          <isin value="US1156372096"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Henkel AG &amp; Co. KGaA</name>
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          <isin value="DE0006048432"/>
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        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DOLLAR TREE, INC.</name>
        <lei>N/A</lei>
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          <isin value="US2567461080"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNICHARM CORPORATION</name>
        <lei>353800UQ4BZIJTAQEG85</lei>
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          <isin value="JP3951600000"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MARKS AND SPENCER GROUP P.L.C.</name>
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          <isin value="GB0031274896"/>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>THE PROCTER &amp; GAMBLE COMPANY</name>
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        <title>PROCTER GAMBLE CO THE</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>THE KRAFT HEINZ COMPANY</name>
        <lei>9845007488EC87F5AF14</lei>
        <title>KRAFT HEINZ CO THE</title>
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          <isin value="US5007541064"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RECKITT BENCKISER GROUP PLC</name>
        <lei>5493003JFSMOJG48V108</lei>
        <title>RECKITT BENCK GRP</title>
        <cusip>N/A</cusip>
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          <isin value="GB00BSZBP530"/>
          <other otherDesc="Internal" value="BSZBP53"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chocoladefabriken Lindt &amp; Spruengli AG</name>
        <lei>529900JYJNNOKKAGK736</lei>
        <title>CHOCOLADEFABRIKEN LINDT SPRUENGLI AG</title>
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          <isin value="CH0010570767"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KENVUE INC.</name>
        <lei>5493008HSF8L4M2LIJ82</lei>
        <title>KENVUE INC</title>
        <cusip>49177J102</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>IMPERIAL BRANDS PLC</name>
        <lei>549300DFVPOB67JL3A42</lei>
        <title>IMPERIAL BRANDS PLC</title>
        <cusip>N/A</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CARREFOUR SA</name>
        <lei>549300B8P6MUJ1YWTS08</lei>
        <title>CARREFOUR SA</title>
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        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>JAPAN TOBACCO INC.</name>
        <lei>353800Z0ENYBQO0XRJ31</lei>
        <title>JAPAN TOBACCO INC</title>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bunge Global SA</name>
        <lei>254900IVXSV9K0B7PO26</lei>
        <title>BUNGE GLOBAL SA</title>
        <cusip>H11356104</cusip>
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          <isin value="CH1300646267"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Essity Aktiebolag (publ)</name>
        <lei>549300G8E6YUVJ1DA153</lei>
        <title>ESSITY AB</title>
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        <invCountry>SE</invCountry>
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        <name>TYSON FOODS, INCORPORATED</name>
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        <name>Beiersdorf Aktiengesellschaft</name>
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        <title>BEIERSDORF AG</title>
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        <invCountry>DE</invCountry>
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        <name>HORMEL FOODS CORPORATION</name>
        <lei>MSD54751OJP1FS2ND863</lei>
        <title>HORMEL FOODS CORP</title>
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        <name>ORKLA ASA</name>
        <lei>549300PZS8G8RG6RVZ52</lei>
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        <name>AUSTRALIAN DOLLAR</name>
        <lei>N/A</lei>
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        <name>SAPUTO INC.</name>
        <lei>549300HH4U1DPY0TBT90</lei>
        <title>SAPUTO INC</title>
        <cusip>802912105</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CONSTELLATION BRANDS, INC.</name>
        <lei>5493005GKEG8QCVY7037</lei>
        <title>CONSTELLATION BRANDS INC</title>
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          <isin value="US21036P1084"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MOWI ASA</name>
        <lei>549300W1OGQF5LZIH349</lei>
        <title>MOWI ASA</title>
        <cusip>N/A</cusip>
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          <isin value="NO0003054108"/>
          <other otherDesc="Internal" value="B02L486"/>
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        <balance>119028.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>THE HERSHEY COMPANY</name>
        <lei>21X2CX66SU2BR6QTAD08</lei>
        <title>HERSHEY COMPANY</title>
        <cusip>427866108</cusip>
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          <isin value="US4278661081"/>
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        <balance>39350.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SWEDISH KRONE</name>
        <lei>N/A</lei>
        <title>SWEDISH KRONE</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="Internal" value="SEK"/>
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        <balance>291249.38000000</balance>
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        <payoffProfile>N/A</payoffProfile>
        <assetConditional assetCat="OTHER" desc="currency"/>
        <issuerConditional desc="currency" issuerCat="OTHER"/>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NISSIN FOODS HOLDINGS CO.,LTD.</name>
        <lei>N/A</lei>
        <title>NISSIN FOODS HOLDINGS CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3675600005"/>
          <other otherDesc="Internal" value="6641760"/>
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        <balance>59800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.70500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Arca Continental, S.A.B. de C.V.</name>
        <lei>254900U2BSJCQHJCXN24</lei>
        <title>ARCA CONTINENTAL SAB DE CV</title>
        <cusip>N/A</cusip>
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          <isin value="MX01AC100006"/>
          <other otherDesc="Internal" value="2823885"/>
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        <balance>130740.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KIMBERLY-CLARK CORPORATION</name>
        <lei>MP3J6QPYPGN75NVW2S34</lei>
        <title>KIMBERLY CLARK CORP</title>
        <cusip>494368103</cusip>
        <identifiers>
          <isin value="US4943681035"/>
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        <balance>88148.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8503637.56000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chocoladefabriken Lindt &amp; Spruengli AG</name>
        <lei>529900JYJNNOKKAGK736</lei>
        <title>CHOCOLADEFABRIKEN LINDT SPRUENGLI AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CH0010570759"/>
          <other otherDesc="Internal" value="5962309"/>
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        <balance>29.00000000</balance>
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        <currencyConditional curCd="CHF" exchangeRt="0.79960000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Barry Callebaut AG</name>
        <lei>213800Y5RWKLDPUTT265</lei>
        <title>BARRY CALLEBAUT AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CH0009002962"/>
          <other otherDesc="Internal" value="5476929"/>
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        <balance>933.00000000</balance>
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        <currencyConditional curCd="CHF" exchangeRt="0.79960000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Seven &amp; i Holdings Co., Ltd.</name>
        <lei>N/A</lei>
        <title>SEVEN I HOLDINGS CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3422950000"/>
          <other otherDesc="Internal" value="B0FS5D6"/>
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        <balance>636311.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.70500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EURO STOXX 50 JUN26</name>
        <lei>N/A</lei>
        <title>EURO STOXX 50 JUN26</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="VGM6"/>
          <other otherDesc="INTERNAL" value="VGM620267"/>
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        <balance>3.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86516400"/>
        <valUSD>-4452.55000000</valUSD>
        <pctVal>-0.00045572565</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Index Future" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>EUREX DEUTSCHLAND</counterpartyName>
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            <payOffProf>Long</payOffProf>
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      <invstOrSec>
        <name>AMBEV S.A.</name>
        <lei>549300TH5Q6VRP8OT012</lei>
        <title>AMBEV SA</title>
        <cusip>02319V103</cusip>
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          <isin value="US02319V1035"/>
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        <balance>1130181.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="ADR"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KIKKOMAN CORPORATION</name>
        <lei>N/A</lei>
        <title>KIKKOMAN CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3240400006"/>
          <other otherDesc="Internal" value="6490809"/>
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        <balance>257400.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>YAKULT HONSHA CO.,LTD.</name>
        <lei>353800YJPSPGG7KI0S71</lei>
        <title>YAKULT HONSHA CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3931600005"/>
          <other otherDesc="Internal" value="6985112"/>
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        <balance>77540.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AEON CO.,LTD.</name>
        <lei>N/A</lei>
        <title>AEON CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3388200002"/>
          <other otherDesc="Internal" value="6480048"/>
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        <balance>739151.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHURCH &amp; DWIGHT CO., INC.</name>
        <lei>POOXSI30AWAQGYJZC921</lei>
        <title>CHURCH DWIGHT CO INC</title>
        <cusip>171340102</cusip>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mondelez International, Inc.</name>
        <lei>549300DV9GIB88LZ5P30</lei>
        <title>MONDELEZ INTERNATIONAL INC</title>
        <cusip>609207105</cusip>
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          <isin value="US6092071058"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ASSOCIATED BRITISH FOODS PLC</name>
        <lei>GBQKSY6W7G0OHCQ8OQ72</lei>
        <title>ASSOCIATED BRITISH FOODS PLC</title>
        <cusip>N/A</cusip>
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          <isin value="GB0006731235"/>
          <other otherDesc="Internal" value="0673123"/>
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        <balance>75397.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KERRY GROUP PUBLIC LIMITED COMPANY</name>
        <lei>635400TLVVBNXLFHWC59</lei>
        <title>KERRY GROUP PLC</title>
        <cusip>N/A</cusip>
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          <isin value="IE0004906560"/>
          <other otherDesc="Internal" value="4519579"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TESCO PLC</name>
        <lei>2138002P5RNKC5W2JZ46</lei>
        <title>TESCO PLC</title>
        <cusip>N/A</cusip>
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          <isin value="GB00BLGZ9862"/>
          <other otherDesc="Internal" value="BLGZ986"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ALIMENTATION COUCHE-TARD INC.</name>
        <lei>N/A</lei>
        <title>ALIMENTATION COUCHE TARD INC</title>
        <cusip>01626P148</cusip>
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          <isin value="CA01626P1484"/>
          <other otherDesc="Internal" value="BL56KN2"/>
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        <balance>197941.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.39110000"/>
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        <pctVal>1.148348687176</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>L'OREAL SA</name>
        <lei>529900JI1GG6F7RKVI53</lei>
        <title>L OREAL SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0000120321"/>
          <other otherDesc="Internal" value="4057808"/>
        </identifiers>
        <balance>60955.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86516400"/>
        <valUSD>24887349.07000000</valUSD>
        <pctVal>2.547260202283</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>Heineken N.V.</name>
        <lei>724500K5PTPSST86UQ23</lei>
        <title>HEINEKEN NV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0000009165"/>
          <other otherDesc="Internal" value="7792559"/>
        </identifiers>
        <balance>73425.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86516400"/>
        <valUSD>5647728.16000000</valUSD>
        <pctVal>0.578054060109</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Heineken Holding N.V.</name>
        <lei>724500M1WJLFM9TYBS04</lei>
        <title>HEINEKEN HOLDING NV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0000008977"/>
          <other otherDesc="Internal" value="B0CCH46"/>
        </identifiers>
        <balance>29832.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86516400"/>
        <valUSD>2123032.06000000</valUSD>
        <pctVal>0.217295745697</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE CLOROX COMPANY</name>
        <lei>54930044KVSC06Z79I06</lei>
        <title>CLOROX CO THE</title>
        <cusip>189054109</cusip>
        <identifiers>
          <isin value="US1890541097"/>
          <other otherDesc="Internal" value="189054109"/>
        </identifiers>
        <balance>32110.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3327559.30000000</valUSD>
        <pctVal>0.340581045887</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>BRITISH AMERICAN TOBACCO P.L.C.</name>
        <lei>213800FKA5MF17RJKT63</lei>
        <title>BRITISH AMERICAN TOBACCO PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB0002875804"/>
          <other otherDesc="Internal" value="0287580"/>
        </identifiers>
        <balance>525813.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75551500"/>
        <valUSD>30528073.21000000</valUSD>
        <pctVal>3.124597389681</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>NORWEGIAN KRONE</name>
        <lei>N/A</lei>
        <title>NORWEGIAN KRONE</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="Internal" value="NOK"/>
        </identifiers>
        <balance>370695.55000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.68290000"/>
        <valUSD>38283.53000000</valUSD>
        <pctVal>0.003918380864</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetConditional assetCat="OTHER" desc="currency"/>
        <issuerConditional desc="currency" issuerCat="OTHER"/>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Jeronimo Martins, SGPS, S.A.</name>
        <lei>259400A8SZP10GB5IB19</lei>
        <title>JERONIMO MARTINS SGPS SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="PTJMT0AE0001"/>
          <other otherDesc="Internal" value="B1Y1SQ7"/>
        </identifiers>
        <balance>73533.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86516400"/>
        <valUSD>1758272.12000000</valUSD>
        <pctVal>0.179961979215</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DANONE SA</name>
        <lei>969500KMUQ2B6CBAF162</lei>
        <title>DANONE SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0000120644"/>
          <other otherDesc="Internal" value="B1Y9TB3"/>
        </identifiers>
        <balance>171230.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86516400"/>
        <valUSD>13682501.34000000</valUSD>
        <pctVal>1.400426016971</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Henkel AG &amp; Co. KGaA</name>
        <lei>549300VZCL1HTH4O4Y49</lei>
        <title>HENKEL AG CO KGAA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE0006048408"/>
          <other otherDesc="Internal" value="5002465"/>
        </identifiers>
        <balance>25528.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86516400"/>
        <valUSD>1833686.90000000</valUSD>
        <pctVal>0.187680803233</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Grupo Bimbo S.A.B. de C.V.</name>
        <lei>5493000RIXURZEBFEV60</lei>
        <title>GRUPO BIMBO SAB DE CV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MXP495211262"/>
          <other otherDesc="Internal" value="2392471"/>
        </identifiers>
        <balance>365778.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="17.92300000"/>
        <valUSD>1226538.96000000</valUSD>
        <pctVal>0.125538235131</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE J. M. SMUCKER COMPANY</name>
        <lei>5493000WDH6A0LHDJD55</lei>
        <title>J M SMUCKER CO</title>
        <cusip>832696405</cusip>
        <identifiers>
          <isin value="US8326964058"/>
          <other otherDesc="Internal" value="832696405"/>
        </identifiers>
        <balance>28335.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2732627.40000000</valUSD>
        <pctVal>0.279688809125</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>Kao Corporation</name>
        <lei>353800HM38HFCB8RGL63</lei>
        <title>KAO CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3205800000"/>
          <other otherDesc="Internal" value="6483809"/>
        </identifiers>
        <balance>120500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.70500000"/>
        <valUSD>4690772.19000000</valUSD>
        <pctVal>0.480108077560</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>COSTCO WHOLESALE CORPORATION</name>
        <lei>29DX7H14B9S6O3FD6V18</lei>
        <title>COSTCO WHOLESALE CORP</title>
        <cusip>22160K105</cusip>
        <identifiers>
          <isin value="US22160K1051"/>
          <other otherDesc="Internal" value="22160K105"/>
        </identifiers>
        <balance>74427.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>74161295.61000000</valUSD>
        <pctVal>7.590527875258</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>DANISH KRONER</name>
        <lei>N/A</lei>
        <title>DANISH KRONER</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="Internal" value="DKK"/>
        </identifiers>
        <balance>699368.14000000</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.46520000"/>
        <valUSD>108174.25000000</valUSD>
        <pctVal>0.011071808458</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetConditional assetCat="OTHER" desc="currency"/>
        <issuerConditional desc="currency" issuerCat="OTHER"/>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DOLLAR GENERAL CORPORATION</name>
        <lei>OPX52SQVOZI8IVSWYU66</lei>
        <title>DOLLAR GENERAL CORP</title>
        <cusip>256677105</cusip>
        <identifiers>
          <isin value="US2566771059"/>
          <other otherDesc="Internal" value="256677105"/>
        </identifiers>
        <balance>58457.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6940599.61000000</valUSD>
        <pctVal>0.710381532272</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>Wal-Mart de Mexico, S.A.B. de C.V.</name>
        <lei>N/A</lei>
        <title>WAL MART DE MEXICO SAB DE CV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MX01WA000038"/>
          <other otherDesc="Internal" value="BW1YVH8"/>
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        <balance>1285851.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="17.92300000"/>
        <valUSD>4175446.53000000</valUSD>
        <pctVal>0.427363667488</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PERNOD RICARD SA</name>
        <lei>52990097YFPX9J0H5D87</lei>
        <title>PERNOD RICARD SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0000120693"/>
          <other otherDesc="Internal" value="4682329"/>
        </identifiers>
        <balance>52926.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86516400"/>
        <valUSD>3935676.20000000</valUSD>
        <pctVal>0.402822788603</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Asahi Group Holdings, Ltd.</name>
        <lei>353800KAJ02XNHLCJW79</lei>
        <title>ASAHI GROUP HOLDINGS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3116000005"/>
          <other otherDesc="Internal" value="6054409"/>
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        <balance>403894.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.70500000"/>
        <valUSD>4032730.59000000</valUSD>
        <pctVal>0.412756461507</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BRAZILIAN REAL</name>
        <lei>N/A</lei>
        <title>BRAZIALIAN REAL</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="Internal" value="BRL"/>
        </identifiers>
        <balance>106020.58000000</balance>
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        <currencyConditional curCd="BRL" exchangeRt="5.17985000"/>
        <valUSD>20467.89000000</valUSD>
        <pctVal>0.002094921458</pctVal>
        <payoffProfile>N/A</payoffProfile>
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        <issuerConditional desc="currency" issuerCat="OTHER"/>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GREAT BRITISH POUND</name>
        <lei>N/A</lei>
        <title>GREAT BRITISH POUND</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="Internal" value="GBP"/>
        </identifiers>
        <balance>121619.17000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75551500"/>
        <valUSD>160975.19000000</valUSD>
        <pctVal>0.016476069584</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetConditional assetCat="OTHER" desc="currency"/>
        <issuerConditional desc="currency" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KEURIG DR PEPPER INC.</name>
        <lei>DYTQ8KRTKO7Y2BVU5K74</lei>
        <title>KEURIG DR PEPPER INC</title>
        <cusip>49271V100</cusip>
        <identifiers>
          <isin value="US49271V1008"/>
          <other otherDesc="Internal" value="49271V100"/>
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        <balance>360802.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9499916.66000000</valUSD>
        <pctVal>0.972331748349</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>CANADIAN DOLLAR</name>
        <lei>N/A</lei>
        <title>CANADIAN DOLLAR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="Internal" value="CAD"/>
        </identifiers>
        <balance>76978.36000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.39110000"/>
        <valUSD>55336.32000000</valUSD>
        <pctVal>0.005663761346</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetConditional assetCat="OTHER" desc="currency"/>
        <issuerConditional desc="currency" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CONAGRA BRANDS, INC.</name>
        <lei>54930035UDEIH090K650</lei>
        <title>CONAGRA BRANDS INC</title>
        <cusip>205887102</cusip>
        <identifiers>
          <isin value="US2058871029"/>
          <other otherDesc="Internal" value="205887102"/>
        </identifiers>
        <balance>127042.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1997100.24000000</valUSD>
        <pctVal>0.204406421391</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>Coca-Cola HBC AG</name>
        <lei>549300EFP3TNG7JGVE49</lei>
        <title>COCA COLA HBC AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CH0198251305"/>
          <other otherDesc="Internal" value="B9895B7"/>
        </identifiers>
        <balance>52133.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75551500"/>
        <valUSD>2936611.40000000</valUSD>
        <pctVal>0.300566899582</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>THE KROGER CO.</name>
        <lei>6CPEOKI6OYJ13Q6O7870</lei>
        <title>KROGER CO</title>
        <cusip>501044101</cusip>
        <identifiers>
          <isin value="US5010441013"/>
          <other otherDesc="Internal" value="501044101"/>
        </identifiers>
        <balance>154138.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11153425.68000000</valUSD>
        <pctVal>1.141571055795</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>THE CAMPBELL'S COMPANY</name>
        <lei>5493007JDSMX8Z5Z1902</lei>
        <title>THE CAMPBELL S COMPANY</title>
        <cusip>134429109</cusip>
        <identifiers>
          <isin value="US1344291091"/>
          <other otherDesc="Internal" value="134429109"/>
        </identifiers>
        <balance>50502.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1124679.54000000</valUSD>
        <pctVal>0.115112759679</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 Ahold Delhaize N.V.</name>
        <lei>724500C9GNBV20UYRX36</lei>
        <title>KONINKLIJKE AHOLD DELHAIZE NV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0011794037"/>
          <other otherDesc="Internal" value="BD0Q398"/>
        </identifiers>
        <balance>236675.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86516400"/>
        <valUSD>11021766.68000000</valUSD>
        <pctVal>1.128095545405</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>
    </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>2026-04-30</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>
