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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DR ING HC F PORSCH /EUR/ /PFD/</name>
        <lei>N/A</lei>
        <title>DR ING HC F PORSCHE AG /EUR/  /PREFFERED/ 0.00000000</title>
        <cusip>D2R3HA114</cusip>
        <identifiers>
          <isin value="DE000PAG9113"/>
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        <balance>448092.00000000</balance>
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        <pctVal>0.943334819987</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SAMSUNG ELECTRONICS CO L /KRW/</name>
        <lei>9884007ER46L6N7EI764</lei>
        <title>SAMSUNG ELECTRONICS CO LTD /KRW/ 0.00000000</title>
        <cusip>Y74718100</cusip>
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          <isin value="KR7005930003"/>
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        <balance>1030453.00000000</balance>
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        <currencyConditional curCd="KRW" exchangeRt="1426.08000000"/>
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        <pctVal>1.691899311780</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</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>COMPASS GROUP PLC /GBP/</name>
        <lei>2138008M6MH9OZ6U2T68</lei>
        <title>COMPASS GROUP PLC /GBP/ 0.00000000</title>
        <cusip>G23296208</cusip>
        <identifiers>
          <isin value="GB00BD6K4575"/>
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        <balance>599562.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74951283"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</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>VESTAS WIND SYSTEMS A/S /DKK/</name>
        <lei>549300DYMC8BGZZC8844</lei>
        <title>VESTAS WIND SYSTEMS A/S /DKK/ 0.00000000</title>
        <cusip>K9773J201</cusip>
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          <isin value="DK0061539921"/>
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        <balance>1466889.00000000</balance>
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        <currencyConditional curCd="DKK" exchangeRt="6.57700000"/>
        <valUSD>19483221.93000000</valUSD>
        <pctVal>0.818929086990</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</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>SUZUKI MOTOR CORP /JPY/</name>
        <lei>353800D83H0V3ZV1SV24</lei>
        <title>SUZUKI MOTOR CORP /JPY/ 0.00000000</title>
        <cusip>J78529138</cusip>
        <identifiers>
          <isin value="JP3397200001"/>
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        <balance>2832900.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="142.65000000"/>
        <valUSD>34003199.31000000</valUSD>
        <pctVal>1.429240454465</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>UNICHARM CORP /JPY/</name>
        <lei>353800UQ4BZIJTAQEG85</lei>
        <title>UNICHARM CORP /JPY/ 0.00000000</title>
        <cusip>J94104114</cusip>
        <identifiers>
          <isin value="JP3951600000"/>
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        <balance>1646483.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="142.65000000"/>
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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>
      <invstOrSec>
        <name>SMURFIT WESTROCK PLC/GBP/</name>
        <lei>635400EGSEOPDW2EXS14</lei>
        <title>SMURFIT WESTROCK PLC/GBP/ 0.00000000</title>
        <cusip>G8267P108</cusip>
        <identifiers>
          <isin value="IE00028FXN24"/>
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        <balance>731366.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74951283"/>
        <valUSD>30609800.09000000</valUSD>
        <pctVal>1.286607304003</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</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>L'OREAL /EUR/</name>
        <lei>529900JI1GG6F7RKVI53</lei>
        <title>L'OREAL /EUR/ 0.00000000</title>
        <cusip>F58149133</cusip>
        <identifiers>
          <isin value="FR0000120321"/>
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        <balance>78490.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.88109608"/>
        <valUSD>34506503.56000000</valUSD>
        <pctVal>1.450395604851</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>COMPAGNIE DE SAINT GOBAI /EUR/</name>
        <lei>NFONVGN05Z0FMN5PEC35</lei>
        <title>COMPAGNIE DE SAINT GOBAIN /EUR/ 0.00000000</title>
        <cusip>F80343100</cusip>
        <identifiers>
          <isin value="FR0000125007"/>
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        <balance>303878.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.88109608"/>
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        <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>PROSUS NV /EUR/</name>
        <lei>635400Z5LQ5F9OLVT688</lei>
        <title>PROSUS NV /EUR/ 0.00000000</title>
        <cusip>N7163R103</cusip>
        <identifiers>
          <isin value="NL0013654783"/>
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        <balance>341111.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.88109608"/>
        <valUSD>16009512.94000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</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>SAFRAN SA /EUR/</name>
        <lei>969500UIC89GT3UL7L24</lei>
        <title>SAFRAN SA /EUR/ 0.00000000</title>
        <cusip>F4035A557</cusip>
        <identifiers>
          <isin value="FR0000073272"/>
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        <balance>211111.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.88109608"/>
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        <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>DAIKIN INDUSTRIES LTD /JPY/</name>
        <lei>549300Y7FWSTSHMW5Y57</lei>
        <title>DAIKIN INDUSTRIES LTD /JPY/ 0.00000000</title>
        <cusip>J10038115</cusip>
        <identifiers>
          <isin value="JP3481800005"/>
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        <balance>102439.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="142.65000000"/>
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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>MEDIATEK INC /TWD/</name>
        <lei>254900UEGBK1I4DM4E14</lei>
        <title>MEDIATEK INC /TWD/ 0.00000000</title>
        <cusip>Y5945U103</cusip>
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          <isin value="TW0002454006"/>
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        <currencyConditional curCd="TWD" exchangeRt="32.07000000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>TW</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EISAI CO LTD /JPY/</name>
        <lei>353800HDEE0ZYEX4QV91</lei>
        <title>EISAI CO LTD /JPY/ 0.00000000</title>
        <cusip>J12852117</cusip>
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          <isin value="JP3160400002"/>
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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>HOLCIM LTD /CHF/</name>
        <lei>529900EHPFPYHV6IQO98</lei>
        <title>HOLCIM LTD /CHF/ 0.00000000</title>
        <cusip>H3816Q102</cusip>
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          <isin value="CH0012214059"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SONY GROUP CORP /JPY/</name>
        <lei>529900R5WX9N2OI2N910</lei>
        <title>SONY GROUP CORP /JPY/ 0.00000000</title>
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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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        <name>FRANCO-NEVADA CORP /CAD/</name>
        <lei>98450064C1B5D3E94864</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MSILF TREASURY SEC-INST</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CELLNEX TELECOM SA /EUR/</name>
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        <title>CELLNEX TELECOM SA /EUR/ 144A 0.00000000</title>
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        <name>LONDON STOCK EXCHANGE GR /GBP/</name>
        <lei>213800QAUUUP6I445N30</lei>
        <title>LONDON STOCK EXCHANGE GROUP /GBP/ 0.00000000</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>HEXAGON AB-B SHS /SEK/</name>
        <lei>549300WJFW6ILNI4TA80</lei>
        <title>HEXAGON AB-B SHS /SEK/ 0.00000000</title>
        <cusip>W4R431112</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>CONSTELLATION SOFTWARE I /CAD/</name>
        <lei>549300B6PYHMCTDWQV29</lei>
        <title>CONSTELLATION SOFTWARE INC /CAD/ 0.00000000</title>
        <cusip>21037X100</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>RYANAIR HOLDINGS-SP ADR</name>
        <lei>635400BR2ROC1FVEBQ56</lei>
        <title>RYANAIR HOLDINGS-SP ADR 0.00000000</title>
        <cusip>783513203</cusip>
        <identifiers>
          <isin value="US7835132033"/>
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        <balance>704800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33731728.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>RENTOKIL INITIAL PLC /GBP/</name>
        <lei>549300VN4WV7Z6T14K68</lei>
        <title>RENTOKIL INITIAL PLC /GBP/ 0.00000000</title>
        <cusip>G7494G105</cusip>
        <identifiers>
          <isin value="GB00B082RF11"/>
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        <balance>6336707.00000000</balance>
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        <pctVal>1.216480458659</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>HDFC BANK LTD-ADR</name>
        <lei>335800ZQ6I4E2JXENC50</lei>
        <title>HDFC BANK LTD-ADR 0.00000000</title>
        <cusip>40415F101</cusip>
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          <isin value="US40415F1012"/>
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        <balance>587000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>42669030.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WISETECH GLOBAL LTD /AUD/</name>
        <lei>254900VE3AF301Q85K83</lei>
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          <isin value="AU000000WTC3"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BROOKFIELD CORP /CAD/</name>
        <lei>C6J3FGIWG6MBDGTE8F80</lei>
        <title>BROOKFIELD CORP /CAD/ 0.00000000</title>
        <cusip>11271J107</cusip>
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          <isin value="CA11271J1075"/>
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        <balance>121396.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.38105000"/>
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        <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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      <invstOrSec>
        <name>SCHNEIDER ELEC SA /EUR/</name>
        <lei>969500A1YF1XUYYXS284</lei>
        <title>SCHNEIDER ELEC SA /EUR/ 0.00000000</title>
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          <isin value="FR0000121972"/>
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        <balance>126424.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KOMATSU LTD /JPY/</name>
        <lei>5493004LQ0B4T7QPQV17</lei>
        <title>KOMATSU LTD /JPY/ 0.00000000</title>
        <cusip>J35759125</cusip>
        <identifiers>
          <isin value="JP3304200003"/>
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        <balance>1145900.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="142.65000000"/>
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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>CANADIAN PACIFIC KANSAS  /CAD/</name>
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        <cusip>13646K108</cusip>
        <identifiers>
          <isin value="CA13646K1084"/>
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        <currencyConditional curCd="CAD" exchangeRt="1.38105000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SARTORIUS STEDIM BIOTECH /EUR/</name>
        <lei>N/A</lei>
        <title>SARTORIUS STEDIM BIOTECH /EUR/ 0.00000000</title>
        <cusip>F8005V210</cusip>
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          <isin value="FR0013154002"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OBIC CO LTD /JPY/</name>
        <lei>N/A</lei>
        <title>OBIC CO LTD /JPY/ 0.00000000</title>
        <cusip>J5946V107</cusip>
        <identifiers>
          <isin value="JP3173400007"/>
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        <balance>1812280.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="142.65000000"/>
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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>MELROSE INDUSTRIES PLC /GBP/</name>
        <lei>213800RGNXXZY2M7TR85</lei>
        <title>MELROSE INDUSTRIES PLC /GBP/ 0.00000000</title>
        <cusip>G5973J210</cusip>
        <identifiers>
          <isin value="GB00BNGDN821"/>
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        <balance>2324187.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RELX PLC /GBP/</name>
        <lei>549300WSX3VBUFFJOO66</lei>
        <title>RELX PLC /GBP/ 0.00000000</title>
        <cusip>G7493L105</cusip>
        <identifiers>
          <isin value="GB00B2B0DG97"/>
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        <balance>83536.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.74951283"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>UNIVERSAL MUSIC GROUP NV /EUR/</name>
        <lei>724500GJBUL3D9TW9Y18</lei>
        <title>UNIVERSAL MUSIC GROUP NV /EUR/ 0.00000000</title>
        <cusip>N90313102</cusip>
        <identifiers>
          <isin value="NL0015000IY2"/>
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        <balance>1633461.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.88109608"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>BAE SYSTEMS PLC /GBP/</name>
        <lei>8SVCSVKSGDWMW2QHOH83</lei>
        <title>BAE SYSTEMS PLC /GBP/ 0.00000000</title>
        <cusip>G06940103</cusip>
        <identifiers>
          <isin value="GB0002634946"/>
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        <balance>4158753.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.74951283"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>CONSTELLA WT EX 03/31/40 /CAD/</name>
        <lei>549300B6PYHMCTDWQV29</lei>
        <title>CONSTELLATION SOFTWARE INC WARRANTS EXPIRE 03/31/2040 /CAD/ 0.00000000</title>
        <cusip>21037X134</cusip>
        <identifiers>
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        <balance>18143.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.38105000"/>
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        <invCountry>CA</invCountry>
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        <fairValLevel>3</fairValLevel>
        <derivativeInfo>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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      <invstOrSec>
        <name>SHELL PLC-NEW /GBP/</name>
        <lei>21380068P1DRHMJ8KU70</lei>
        <title>SHELL PLC-NEW /GBP/ 0.00000000</title>
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          <isin value="GB00BP6MXD84"/>
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      <invstOrSec>
        <name>NEXT PLC /GBP/</name>
        <lei>213800WQD8ECPZP9PH98</lei>
        <title>NEXT PLC /GBP/ 0.00000000</title>
        <cusip>G6500M106</cusip>
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          <isin value="GB0032089863"/>
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        <fairValLevel>2</fairValLevel>
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        <name>DSV DKK1 /DKK/</name>
        <lei>529900X41C0BSLK67H70</lei>
        <title>DSV DKK1 /DKK/ 0.00000000</title>
        <cusip>K31864117</cusip>
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          <isin value="DK0060079531"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KEYENCE CORP /JPY/</name>
        <lei>529900M7PQBS7A89DZ11</lei>
        <title>KEYENCE CORP /JPY/ 0.00000000</title>
        <cusip>J32491102</cusip>
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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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        <name>ESSITY AKTIEBOLAG-B /SEK/</name>
        <lei>549300G8E6YUVJ1DA153</lei>
        <title>ESSITY AKTIEBOLAG-B /SEK/ 0.00000000</title>
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        <invCountry>SE</invCountry>
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      <invstOrSec>
        <name>THALES SA /EUR/</name>
        <lei>529900FNDVTQJOVVPZ19</lei>
        <title>THALES SA /EUR/ 0.00000000</title>
        <cusip>F9156M108</cusip>
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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>SIKA AG-REG /CHF/</name>
        <lei>549300R3N69ECGYPU434</lei>
        <title>SIKA AG-REG /CHF/ 0.00000000</title>
        <cusip>H7631K273</cusip>
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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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CIE FINANCIERE RICHEMO-A /CHF/</name>
        <lei>549300YIPGJ6UX2QPS51</lei>
        <title>CIE FINANCIERE RICHEMO-A REG /CHF/ 0.00000000</title>
        <cusip>H25662182</cusip>
        <identifiers>
          <isin value="CH0210483332"/>
        </identifiers>
        <balance>86143.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.82280000"/>
        <valUSD>15203214.96000000</valUSD>
        <pctVal>0.639029570737</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>LVMH MOET HENNESSY LOUIS /EUR/</name>
        <lei>IOG4E947OATN0KJYSD45</lei>
        <title>LVMH MOET HENNESSY LOUIS VUI /EUR/ 0.00000000</title>
        <cusip>F58485115</cusip>
        <identifiers>
          <isin value="FR0000121014"/>
        </identifiers>
        <balance>5553.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88109608"/>
        <valUSD>3069979.26000000</valUSD>
        <pctVal>0.129038991677</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>COLOPLAST-B /DKK/</name>
        <lei>529900NN7SOJ5QG82X67</lei>
        <title>COLOPLAST-B /DKK/ 0.00000000</title>
        <cusip>K16018192</cusip>
        <identifiers>
          <isin value="DK0060448595"/>
        </identifiers>
        <balance>141513.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.57700000"/>
        <valUSD>16104423.61000000</valUSD>
        <pctVal>0.676909649278</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALCON INC /CHF/</name>
        <lei>549300LDT5AP8S0NBM78</lei>
        <title>ALCON INC /CHF/ 0.00000000</title>
        <cusip>H01301128</cusip>
        <identifiers>
          <isin value="CH0432492467"/>
        </identifiers>
        <balance>509077.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.82280000"/>
        <valUSD>49770272.99000000</valUSD>
        <pctVal>2.091970433093</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>SVENSKA HANDELSBANKEN-A  /SEK/</name>
        <lei>NHBDILHZTYCNBV5UYZ31</lei>
        <title>SVENSKA HANDELSBANKEN-A SHS /SEK/ 0.00000000</title>
        <cusip>W9112U104</cusip>
        <identifiers>
          <isin value="SE0007100599"/>
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        <balance>1427429.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.65665000"/>
        <valUSD>18810878.18000000</valUSD>
        <pctVal>0.790668778951</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMADEUS IT GROUP SA /EUR/</name>
        <lei>9598004A3FTY3TEHHN09</lei>
        <title>AMADEUS IT GROUP SA /EUR/ 0.00000000</title>
        <cusip>E04648114</cusip>
        <identifiers>
          <isin value="ES0109067019"/>
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        <balance>262494.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88109608"/>
        <valUSD>20669623.42000000</valUSD>
        <pctVal>0.868796541793</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DNB BANK ASA /NOK/</name>
        <lei>549300GKFG0RYRRQ1414</lei>
        <title>DNB BANK ASA /NOK/ 0.00000000</title>
        <cusip>R1R15X100</cusip>
        <identifiers>
          <isin value="NO0010161896"/>
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        <balance>1371633.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="10.39240000"/>
        <valUSD>34504732.12000000</valUSD>
        <pctVal>1.450321146748</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOMURA RESEARCH INSTITUT /JPY/</name>
        <lei>5299005F1HCVF4M4QN79</lei>
        <title>NOMURA RESEARCH INSTITUTE LT /JPY/ 0.00000000</title>
        <cusip>J5900F106</cusip>
        <identifiers>
          <isin value="JP3762800005"/>
        </identifiers>
        <balance>885885.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="142.65000000"/>
        <valUSD>33578553.64000000</valUSD>
        <pctVal>1.411391523109</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TAIWAN SEMICONDUCTOR-SP ADR</name>
        <lei>549300KB6NK5SBD14S87</lei>
        <title>TAIWAN SEMICONDUCTOR SPONSORED ADR /1 ADR REPS 5 ORD SHS/ 0.00000000</title>
        <cusip>874039100</cusip>
        <identifiers>
          <isin value="US8740391003"/>
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        <balance>553454.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>92255247.26000000</valUSD>
        <pctVal>3.877721337885</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ADIDAS AG /EUR/</name>
        <lei>549300JSX0Z4CW0V5023</lei>
        <title>ADIDAS AG /EUR/ 0.00000000</title>
        <cusip>D0066B185</cusip>
        <identifiers>
          <isin value="DE000A1EWWW0"/>
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        <balance>149909.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.88109608"/>
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        <pctVal>1.442624073995</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>
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      </invstOrSec>
      <invstOrSec>
        <name>CRH PLC</name>
        <lei>549300MIDJNNTH068E74</lei>
        <title>CRH PLC 0.00000000</title>
        <cusip>G25508105</cusip>
        <identifiers>
          <isin value="IE0001827041"/>
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        <balance>746214.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>71203739.88000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SHOPIFY INC - CLASS A</name>
        <lei>549300HGQ43STJLLP808</lei>
        <title>SHOPIFY INC - CLASS A 0.00000000</title>
        <cusip>82509L107</cusip>
        <identifiers>
          <isin value="CA82509L1076"/>
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        <balance>293440.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27876800.00000000</valUSD>
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        <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>
        <name>KONE OYJ-B /EUR/</name>
        <lei>2138001CNF45JP5XZK38</lei>
        <title>KONE OYJ-B /EUR/ 0.00000000</title>
        <cusip>X4551T105</cusip>
        <identifiers>
          <isin value="FI0009013403"/>
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        <balance>219592.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.88109608"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DASSAULT SYSTEMES SE /EUR/</name>
        <lei>96950065LBWY0APQIM86</lei>
        <title>DASSAULT SYSTEMES SE /EUR/ 0.00000000</title>
        <cusip>F24571451</cusip>
        <identifiers>
          <isin value="FR0014003TT8"/>
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        <balance>752576.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.88109608"/>
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        <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>
        <name>ASML HOLDING NV /EUR/</name>
        <lei>724500Y6DUVHQD6OXN27</lei>
        <title>ASML HOLDING NV /EUR/ 0.00000000</title>
        <cusip>N07059202</cusip>
        <identifiers>
          <isin value="NL0010273215"/>
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        <balance>34448.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KB FINANCIAL GROUP INC /KRW/</name>
        <lei>529900TKE4MXG3Q6GW86</lei>
        <title>KB FINANCIAL GROUP INC /KRW/ 0.00000000</title>
        <cusip>Y46007103</cusip>
        <identifiers>
          <isin value="KR7105560007"/>
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        <balance>532283.00000000</balance>
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        <currencyConditional curCd="KRW" exchangeRt="1426.08000000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAP SE /EUR/</name>
        <lei>529900D6BF99LW9R2E68</lei>
        <title>SAP SE /EUR/ 0.00000000</title>
        <cusip>D66992104</cusip>
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          <isin value="DE0007164600"/>
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        <balance>174405.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ALIMENTATION COUCHE-TARD /CAD/</name>
        <lei>549300OSW32RVX8CCZ87</lei>
        <title>ALIMENTATION COUCHE-TARD INC /CAD/ 0.00000000</title>
        <cusip>01626P148</cusip>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>METTLER-TOLEDO INTERNATIONAL</name>
        <lei>5493000BD5GJNUDIUG10</lei>
        <title>METTLER-TOLEDO INTERNATIONAL 0.00000000</title>
        <cusip>592688105</cusip>
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          <isin value="US5926881054"/>
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        <balance>11997.00000000</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>
      <invstOrSec>
        <name>RHEINMETALL AG /EUR/</name>
        <lei>5299001OU9CSE29O6S05</lei>
        <title>RHEINMETALL AG /EUR/ 0.00000000</title>
        <cusip>D65111102</cusip>
        <identifiers>
          <isin value="DE0007030009"/>
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        <balance>28415.00000000</balance>
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        <valUSD>48193359.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SONOVA HOLDING AG /CHF/</name>
        <lei>5299004A0QNX7FBNHS61</lei>
        <title>SONOVA HOLDING AG /CHF/ 0.00000000</title>
        <cusip>H8024W106</cusip>
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          <isin value="CH0012549785"/>
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        <balance>29381.00000000</balance>
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        <pctVal>0.379083964857</pctVal>
        <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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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ICON PLC</name>
        <lei>6354008SRQGEMC4XFI67</lei>
        <title>ICON PLC 0.00000000</title>
        <cusip>G4705A100</cusip>
        <identifiers>
          <isin value="IE0005711209"/>
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        <balance>159776.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24196477.44000000</valUSD>
        <pctVal>1.017039134980</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-05-30</ncom:dateSigned>
      <ncom:nameOfApplicant>BBH Trust</ncom:nameOfApplicant>
      <ncom:signature>Charles Schreiber</ncom:signature>
      <ncom:signerName>Charles Schreiber</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
