<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/nport" xmlns:com="http://www.sec.gov/edgar/common" xmlns:ncom="http://www.sec.gov/edgar/nportcommon" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <headerData>
    <submissionType>NPORT-P</submissionType>
    <isConfidential>false</isConfidential>
    <filerInfo>

      <filer>
        <issuerCredentials>
          <cik>0001413032</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>


      <seriesClassInfo>
        <seriesId>S000028689</seriesId>
        <classId>C000087797</classId>
        <classId>C000087796</classId>
      </seriesClassInfo>


    </filerInfo>
  </headerData>
  <formData>
    <genInfo>
      <regName>Columbia Funds Variable Series Trust II</regName>
      <regFileNumber>811-22127</regFileNumber>
      <regCik>0001413032</regCik>
      <regLei>54930017CSZ4UCL7G406</regLei>
      <regStreet1>225 Franklin St.</regStreet1>
      <regCity>Boston</regCity>
      <regStateConditional regCountry="US" regState="US-MA"/>
      <regZipOrPostalCode>02110</regZipOrPostalCode>
      <regPhone>800-345-6611</regPhone>
      <seriesName>Variable Portfolio - Columbia Wanger International Equities Fund</seriesName>
      <seriesId>S000028689</seriesId>
      <seriesLei>549300V4T1PKKK4B5X21</seriesLei>
      <repPdEnd>2019-12-31</repPdEnd>
      <repPdDate>2019-12-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>135025636.400000000000</totAssets>
      <totLiabs>221644.830000000000</totLiabs>
      <netAssets>134803991.570000000000</netAssets>
      <assetsAttrMiscSec>0.000000000000</assetsAttrMiscSec>
      <assetsInvested>0.000000000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.000000000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.000000000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.000000000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.000000000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0.000000000000</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0.000000000000</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0.000000000000</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0.000000000000</amtPayAftOneYrOther>
      <delayDeliv>0.000000000000</delayDeliv>
      <standByCommit>0.000000000000</standByCommit>
      <liquidPref>0.000000000000</liquidPref>
      <cshNotRptdInCorD>0.000000000000</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn classId="C000087796" rtn1="5.72" rtn2="3.21" rtn3="4.43"/>
          <monthlyTotReturn classId="C000087797" rtn1="5.76" rtn2="3.23" rtn3="4.33"/>
        </monthlyTotReturns>
        <monthlyReturnCats>
          <equityContracts>
            <mon1 netRealizedGain="6263.90" netUnrealizedAppr="97208.62"/>
            <mon2 netRealizedGain="62482.09" netUnrealizedAppr="-37873.4"/>
            <mon3 netRealizedGain="147885.16" netUnrealizedAppr="-16578.71"/>
            <futureCategory>
              <instrMon1 netRealizedGain="6263.90" netUnrealizedAppr="97208.62"/>
              <instrMon2 netRealizedGain="62482.09" netUnrealizedAppr="-37873.4"/>
              <instrMon3 netRealizedGain="147885.16" netUnrealizedAppr="-16578.71"/>
            </futureCategory>
          </equityContracts>
          <otherContracts>
            <mon1 netRealizedGain="15.58" netUnrealizedAppr="N/A"/>
            <mon2 netRealizedGain="11.25" netUnrealizedAppr="N/A"/>
            <mon3 netRealizedGain="23.36" netUnrealizedAppr="N/A"/>
            <futureCategory>
              <instrMon1 netRealizedGain="15.58" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="11.25" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="23.36" netUnrealizedAppr="N/A"/>
            </futureCategory>
          </otherContracts>
        </monthlyReturnCats>
        <othMon1 netRealizedGain="522903.40" netUnrealizedAppr="6037073.56"/>
        <othMon2 netRealizedGain="-1304435.63" netUnrealizedAppr="5234041.88"/>
        <othMon3 netRealizedGain="412219.41" netUnrealizedAppr="5097407.36"/>
      </returnInfo>
      <mon1Flow redemption="387423.38" reinvestment="0.00" sales="268049.58"/>
      <mon2Flow redemption="285008.52" reinvestment="0.00" sales="287385.80"/>
      <mon3Flow redemption="444408.73" reinvestment="400072.22" sales="460007.88"/>

    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>Ag Growth International Inc</name>
        <lei>549300XQPP1R318J7E33</lei>
        <title>Ag Growth International Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA0011811068"/>
          <ticker value="AFN CN"/>
          <other otherDesc="Internal Id" value="001181999"/>
        </identifiers>
        <balance>19816.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.298550000"/>
        <valUSD>708678.940000000000</valUSD>
        <pctVal>0.5257106498</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aica Kogyo Co Ltd</name>
        <lei>N/A</lei>
        <title>Aica Kogyo Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3100800006"/>
          <ticker value="4206 JP"/>
          <other otherDesc="Internal Id" value="001306992"/>
        </identifiers>
        <balance>18800.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>620355.110000000000</valUSD>
        <pctVal>0.4601904608</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Abcam PLC</name>
        <lei>213800B9N83DSNT33F79</lei>
        <title>Abcam PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B6774699"/>
          <ticker value="ABC LN"/>
          <other otherDesc="Internal Id" value="003249992"/>
        </identifiers>
        <balance>59251.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.754945000"/>
        <valUSD>1061101.830000000000</valUSD>
        <pctVal>0.7871442215</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>AEON MALL CO LTD</name>
        <lei>N/A</lei>
        <title>Aeon Mall Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3131430005"/>
          <ticker value="8905 JP"/>
          <other otherDesc="Internal Id" value="00761P996"/>
        </identifiers>
        <balance>83000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>1472215.070000000000</valUSD>
        <pctVal>1.0921153394</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AEON Financial Service Co Ltd</name>
        <lei>N/A</lei>
        <title>AEON Financial Service Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3131400008"/>
          <ticker value="8570 JP"/>
          <other otherDesc="Internal Id" value="008011991"/>
        </identifiers>
        <balance>33800.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>532573.860000000000</valUSD>
        <pctVal>0.3950727674</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aalberts NV</name>
        <lei>549300EMP9DT6Q35HZ31</lei>
        <title>Aalberts Industries NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0000852564"/>
          <ticker value="AALB NA"/>
          <other otherDesc="Internal Id" value="010198992"/>
        </identifiers>
        <balance>22403.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.891504000"/>
        <valUSD>1008311.130000000000</valUSD>
        <pctVal>0.7479831407</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>Amplifon SpA</name>
        <lei>ZYXJDNVM2JI3VBM8G556</lei>
        <title>Amplifon SpA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0004056880"/>
          <ticker value="AMP IM"/>
          <other otherDesc="Internal Id" value="032101990"/>
        </identifiers>
        <balance>32657.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.891504000"/>
        <valUSD>939844.390000000000</valUSD>
        <pctVal>0.6971932945</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ARGENX SE</name>
        <lei>7245009C5FZE6G9ODQ71</lei>
        <title>Argenx SE</title>
        <cusip>04016X101</cusip>
        <identifiers>
          <isin value="US04016X1019"/>
          <ticker value="ARGX"/>
          <other otherDesc="Internal Id" value="04016X101"/>
        </identifiers>
        <balance>7238.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1161843.760000000000</valUSD>
        <pctVal>0.8618763780</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASM Pacific Technology Ltd</name>
        <lei>529900PYFA1HFYKPT360</lei>
        <title>ASM Pacific Technology Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG0535Q1331"/>
          <ticker value="522 HK"/>
          <other otherDesc="Internal Id" value="045200995"/>
        </identifiers>
        <balance>61200.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.792300000"/>
        <valUSD>849478.560000000000</valUSD>
        <pctVal>0.6301583136</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Belimo Holding AG</name>
        <lei>506700339DLX749VEM23</lei>
        <title>Belimo Holding AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0001503199"/>
          <ticker value="BEAN SW"/>
          <other otherDesc="Internal Id" value="077304996"/>
        </identifiers>
        <balance>148.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.967800000"/>
        <valUSD>1114817.110000000000</valUSD>
        <pctVal>0.8269911722</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>Zotefoams PLC</name>
        <lei>213800B6P256B5XN8D32</lei>
        <title>Zotefoams PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0009896605"/>
          <ticker value="ZTF LN"/>
          <other otherDesc="Internal Id" value="0989660"/>
        </identifiers>
        <balance>75861.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.754945000"/>
        <valUSD>447160.320000000000</valUSD>
        <pctVal>0.3317114833</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>Freni Brembo SpA</name>
        <lei>549300BLWVJN2BAT0A44</lei>
        <title>Brembo SpA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0005252728"/>
          <ticker value="BRE IM"/>
          <other otherDesc="Internal Id" value="107123994"/>
        </identifiers>
        <balance>116180.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.891504000"/>
        <valUSD>1442451.440000000000</valUSD>
        <pctVal>1.0700361489</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COLUMBIA FUNDS/USA</name>
        <lei>N/A</lei>
        <title>COLUMBIA SHORT TERM CASH FUND</title>
        <cusip>19766H239</cusip>
        <identifiers>
          <other otherDesc="Internal Id" value="19766H239"/>
        </identifiers>
        <balance>6716401.984000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6715730.340000000000</valUSD>
        <pctVal>4.9818482834</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</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>Clicks Group Ltd</name>
        <lei>378900E967958A677472</lei>
        <title>Clicks Group Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ZAE000134854"/>
          <ticker value="CLS SJ"/>
          <other otherDesc="Internal Id" value="211324991"/>
        </identifiers>
        <balance>43802.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006000000"/>
        <valUSD>802452.890000000000</valUSD>
        <pctVal>0.5952738347</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CYBERAGENT INC</name>
        <lei>3538006T5KZABPGS8Q08</lei>
        <title>CyberAgent Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3311400000"/>
          <ticker value="4751 JP"/>
          <other otherDesc="Internal Id" value="232429993"/>
        </identifiers>
        <balance>46500.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>1619864.080000000000</valUSD>
        <pctVal>1.2016440026</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Daiseki Co Ltd</name>
        <lei>N/A</lei>
        <title>Daiseki Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3485600005"/>
          <ticker value="9793 JP"/>
          <other otherDesc="Internal Id" value="234025997"/>
        </identifiers>
        <balance>26300.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>756644.410000000000</valUSD>
        <pctVal>0.5612922890</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dechra Pharmaceuticals PLC</name>
        <lei>213800J4UVB5OWG8VX82</lei>
        <title>Dechra Pharmaceuticals PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0009633180"/>
          <ticker value="DPH LN"/>
          <other otherDesc="Internal Id" value="243190998"/>
        </identifiers>
        <balance>56808.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.754945000"/>
        <valUSD>2184268.850000000000</valUSD>
        <pctVal>1.6203295055</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>Deutsche Beteiligungs AG</name>
        <lei>529900I88AOT7YXRMQ23</lei>
        <title>Deutsche Beteiligungs AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000A1TNUT7"/>
          <ticker value="DBAN GR"/>
          <other otherDesc="Internal Id" value="251531992"/>
        </identifiers>
        <balance>15220.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.891504000"/>
        <valUSD>673501.180000000000</valUSD>
        <pctVal>0.4996151614</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>Winpak Ltd</name>
        <lei>549300FWDGJBHZHH8U59</lei>
        <title>Winpak Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA97535P1045"/>
          <ticker value="WPK CN"/>
          <other otherDesc="Internal Id" value="2972851"/>
        </identifiers>
        <balance>17062.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.298550000"/>
        <valUSD>617282.940000000000</valUSD>
        <pctVal>0.4579114704</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UDG Healthcare PLC</name>
        <lei>549300IWG5ZPP6B8HH13</lei>
        <title>UDG Healthcare PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE0033024807"/>
          <ticker value="UDG LN"/>
          <other otherDesc="Internal Id" value="330248097"/>
        </identifiers>
        <balance>148338.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.754945000"/>
        <valUSD>1585951.510000000000</valUSD>
        <pctVal>1.1764870547</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FUJI OIL HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>Fuji Oil Holdings Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3816400000"/>
          <ticker value="2607 JP"/>
          <other otherDesc="Internal Id" value="359576998"/>
        </identifiers>
        <balance>43600.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>1172811.220000000000</valUSD>
        <pctVal>0.8700122351</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GLORY LTD.</name>
        <lei>N/A</lei>
        <title>Glory Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3274400005"/>
          <ticker value="6457 JP"/>
          <other otherDesc="Internal Id" value="379630999"/>
        </identifiers>
        <balance>32100.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>970031.290000000000</valUSD>
        <pctVal>0.7195864742</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IMA INDUSTRIA MACCHINE AUTOMATICHE SPA</name>
        <lei>815600D86992FDA7B908</lei>
        <title>IMA Industria Macchine Automatiche SpA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0001049623"/>
          <ticker value="IMA IM"/>
          <other otherDesc="Internal Id" value="455799999"/>
        </identifiers>
        <balance>22508.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.891504000"/>
        <valUSD>1618748.650000000000</valUSD>
        <pctVal>1.2008165568</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Inter Parfums Inc</name>
        <lei>N/A</lei>
        <title>Inter Parfums Inc</title>
        <cusip>458334109</cusip>
        <identifiers>
          <isin value="US4583341098"/>
          <ticker value="IPAR"/>
          <other otherDesc="Internal Id" value="458334109"/>
        </identifiers>
        <balance>20852.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1516148.920000000000</valUSD>
        <pctVal>1.1247062512</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>Inficon Holding AG</name>
        <lei>5067008UT6890I0YM937</lei>
        <title>Inficon Holding AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0011029946"/>
          <ticker value="IFCN SW"/>
          <other otherDesc="Internal Id" value="468172499"/>
        </identifiers>
        <balance>1391.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.967800000"/>
        <valUSD>1104550.010000000000</valUSD>
        <pctVal>0.8193748547</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>Mandom Corp</name>
        <lei>N/A</lei>
        <title>Mandom Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3879400004"/>
          <ticker value="4917 JP"/>
          <other otherDesc="Internal Id" value="562601997"/>
        </identifiers>
        <balance>46300.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>1265742.760000000000</valUSD>
        <pctVal>0.9389505053</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ECKERT &amp; ZIEGLER STRAHLEN UND MEDIZINTECHNIK AG</name>
        <lei>391200EUDABLUKXCKG48</lei>
        <title>Eckert &amp; Ziegler Strahlen- und Medizintechnik AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0005659700"/>
          <ticker value="EUZ GR"/>
          <other otherDesc="Internal Id" value="5689857"/>
        </identifiers>
        <balance>4540.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.891504000"/>
        <valUSD>964303.620000000000</valUSD>
        <pctVal>0.7153375866</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>Milbon Co Ltd</name>
        <lei>N/A</lei>
        <title>Milbon Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3910650005"/>
          <ticker value="4919 JP"/>
          <other otherDesc="Internal Id" value="598842995"/>
        </identifiers>
        <balance>17300.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>980963.110000000000</valUSD>
        <pctVal>0.7276958928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RESTAURANT BRANDS NEW ZEALAND LTD</name>
        <lei>N/A</lei>
        <title>Restaurant Brands New Zealand Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NZRBDE0001S1"/>
          <ticker value="RBD NZ"/>
          <other otherDesc="Internal Id" value="6002981"/>
        </identifiers>
        <balance>175812.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NZD" exchangeRt="1.485443000"/>
        <valUSD>1651074.730000000000</valUSD>
        <pctVal>1.2247966182</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NZ</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Minth Group Ltd</name>
        <lei>254900B2AH0G13K9G204</lei>
        <title>Minth Group Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG6145U1094"/>
          <ticker value="425 HK"/>
          <other otherDesc="Internal Id" value="603466996"/>
        </identifiers>
        <balance>183000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.792300000"/>
        <valUSD>646187.530000000000</valUSD>
        <pctVal>0.4793534097</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Miura Co Ltd</name>
        <lei>N/A</lei>
        <title>Miura Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3880800002"/>
          <ticker value="6005 JP"/>
          <other otherDesc="Internal Id" value="606850998"/>
        </identifiers>
        <balance>25300.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>874182.340000000000</valUSD>
        <pctVal>0.6484840173</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BASSO INDUSTRY CORP</name>
        <lei>N/A</lei>
        <title>Basso Industry Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0001527000"/>
          <ticker value="1527 TT"/>
          <other otherDesc="Internal Id" value="6141118"/>
        </identifiers>
        <balance>235000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977000000"/>
        <valUSD>385590.480000000000</valUSD>
        <pctVal>0.2860378803</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NAGACORP LTD</name>
        <lei>549300MMNKN0RBJELS20</lei>
        <title>NagaCorp Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG6382M1096"/>
          <ticker value="3918 HK"/>
          <other otherDesc="Internal Id" value="629725995"/>
        </identifiers>
        <balance>735000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.792300000"/>
        <valUSD>1283672.980000000000</valUSD>
        <pctVal>0.9522514616</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FUSO CHEMICAL CO. LTD.</name>
        <lei>N/A</lei>
        <title>Fuso Chemical Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3822600007"/>
          <ticker value="4368 JP"/>
          <other otherDesc="Internal Id" value="6347712"/>
        </identifiers>
        <balance>40800.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>1205793.680000000000</valUSD>
        <pctVal>0.8944792109</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sinbon Electronics Co Ltd</name>
        <lei>N/A</lei>
        <title>Sinbon Electronics Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0003023008"/>
          <ticker value="3023 TT"/>
          <other otherDesc="Internal Id" value="6349354"/>
        </identifiers>
        <balance>268000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977000000"/>
        <valUSD>1107853.800000000000</valUSD>
        <pctVal>0.8218256649</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GRAPE KING BIO LTD</name>
        <lei>N/A</lei>
        <title>Grape King Bio Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0001707008"/>
          <ticker value="1707 TT"/>
          <other otherDesc="Internal Id" value="6381691"/>
        </identifiers>
        <balance>90000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977000000"/>
        <valUSD>585519.680000000000</valUSD>
        <pctVal>0.4343489189</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GETAC TECHNOLOGY CORP</name>
        <lei>N/A</lei>
        <title>Getac Technology Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0003005005"/>
          <ticker value="3005 TT"/>
          <other otherDesc="Internal Id" value="6439620"/>
        </identifiers>
        <balance>389000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977000000"/>
        <valUSD>606588.010000000000</valUSD>
        <pctVal>0.4499777810</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NIHON UNISYS LTD</name>
        <lei>N/A</lei>
        <title>Nihon Unisys Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3754200008"/>
          <ticker value="8056 JP"/>
          <other otherDesc="Internal Id" value="654101971"/>
        </identifiers>
        <balance>22400.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>702665.600000000000</valUSD>
        <pctVal>0.5212498471</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NSD Co Ltd</name>
        <lei>N/A</lei>
        <title>NSD Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3712600000"/>
          <ticker value="9759 JP"/>
          <other otherDesc="Internal Id" value="654619881"/>
        </identifiers>
        <balance>74800.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>1231674.360000000000</valUSD>
        <pctVal>0.9136779599</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PSG Group Ltd</name>
        <lei>378900CD0BEE79F35A34</lei>
        <title>PSG Group Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ZAE000013017"/>
          <ticker value="PSG SJ"/>
          <other otherDesc="Internal Id" value="6613219"/>
        </identifiers>
        <balance>34095.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006000000"/>
        <valUSD>570018.930000000000</valUSD>
        <pctVal>0.4228501867</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Valqua Ltd</name>
        <lei>N/A</lei>
        <title>Nippon Valqua Industries Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3744200001"/>
          <ticker value="7995 JP"/>
          <other otherDesc="Internal Id" value="664362597"/>
        </identifiers>
        <balance>61700.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>1477868.800000000000</valUSD>
        <pctVal>1.0963093769</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Korea Investment Holdings Co Ltd</name>
        <lei>N/A</lei>
        <title>Korea Investment Holdings Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KR7071050009"/>
          <ticker value="071050 KS"/>
          <other otherDesc="Internal Id" value="665458691"/>
        </identifiers>
        <balance>22989.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.450000000"/>
        <valUSD>1435696.890000000000</valUSD>
        <pctVal>1.0650255035</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Seria Co Ltd</name>
        <lei>N/A</lei>
        <title>Seria Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3423520000"/>
          <ticker value="2782 JP"/>
          <other otherDesc="Internal Id" value="668071897"/>
        </identifiers>
        <balance>38100.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>1037978.420000000000</valUSD>
        <pctVal>0.7699908644</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Security Bank Corp</name>
        <lei>549300JSVDZIR2CPTP95</lei>
        <title>Security Bank Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="PHY7571C1000"/>
          <ticker value="SECB PM"/>
          <other otherDesc="Internal Id" value="679233999"/>
        </identifiers>
        <balance>165660.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.645000000"/>
        <valUSD>637353.760000000000</valUSD>
        <pctVal>0.4728003619</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pason Systems Inc</name>
        <lei>N/A</lei>
        <title>Pason Systems Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA7029251088"/>
          <ticker value="PSI CN"/>
          <other otherDesc="Internal Id" value="702925991"/>
        </identifiers>
        <balance>14992.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.298550000"/>
        <valUSD>151357.380000000000</valUSD>
        <pctVal>0.1122795981</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Melexis NV</name>
        <lei>549300QRPSGOJRPUFO80</lei>
        <title>Melexis NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BE0165385973"/>
          <ticker value="MELE BB"/>
          <other otherDesc="Internal Id" value="737006395"/>
        </identifiers>
        <balance>11722.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.891504000"/>
        <valUSD>884222.650000000000</valUSD>
        <pctVal>0.6559320979</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Safestore Holdings PLC</name>
        <lei>213800WGA3YSJC1YOH73</lei>
        <title>Safestore Holdings PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B1N7Z094"/>
          <ticker value="SAFE LN"/>
          <other otherDesc="Internal Id" value="796421998"/>
        </identifiers>
        <balance>150248.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.754945000"/>
        <valUSD>1604088.880000000000</valUSD>
        <pctVal>1.1899416785</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>Seiren Co Ltd</name>
        <lei>N/A</lei>
        <title>Seiren Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3413800008"/>
          <ticker value="3569 JP"/>
          <other otherDesc="Internal Id" value="816076996"/>
        </identifiers>
        <balance>137500.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>1976529.520000000000</valUSD>
        <pctVal>1.4662247735</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SimCorp A/S</name>
        <lei>5299000WVEJNSG42AK88</lei>
        <title>SimCorp A/S</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DK0060495240"/>
          <ticker value="SIM DC"/>
          <other otherDesc="Internal Id" value="828591990"/>
        </identifiers>
        <balance>25544.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.661850000"/>
        <valUSD>2904535.530000000000</valUSD>
        <pctVal>2.1546361470</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>Sohgo Security Services Co Ltd</name>
        <lei>N/A</lei>
        <title>Sohgo Security Services Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3431900004"/>
          <ticker value="2331 JP"/>
          <other otherDesc="Internal Id" value="839210994"/>
        </identifiers>
        <balance>11400.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>617024.230000000000</valUSD>
        <pctVal>0.4577195548</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Spectris PLC</name>
        <lei>213800Z4CO2CZO3M3T10</lei>
        <title>Spectris PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0003308607"/>
          <ticker value="SXS LN"/>
          <other otherDesc="Internal Id" value="847610995"/>
        </identifiers>
        <balance>29486.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.754945000"/>
        <valUSD>1136320.790000000000</valUSD>
        <pctVal>0.8429429847</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>Sweco AB</name>
        <lei>549300Q4Y55VICYV6U90</lei>
        <title>Sweco AB</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0000489098"/>
          <ticker value="SWECB SS"/>
          <other otherDesc="Internal Id" value="860044999"/>
        </identifiers>
        <balance>91100.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.366350000"/>
        <valUSD>3512155.070000000000</valUSD>
        <pctVal>2.6053791354</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>SCSK Corp</name>
        <lei>529900SNGFXMSUBB7864</lei>
        <title>SCSK Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3400400002"/>
          <ticker value="9719 JP"/>
          <other otherDesc="Internal Id" value="865550990"/>
        </identifiers>
        <balance>12200.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>632623.240000000000</valUSD>
        <pctVal>0.4692911780</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TCS Group Holding PLC</name>
        <lei>549300XQRN9MR54V1W18</lei>
        <title>TCS Group Holding PLC</title>
        <cusip>87238U104</cusip>
        <identifiers>
          <isin value="US87238U1043"/>
          <ticker value="TCSA LN"/>
          <other otherDesc="Internal Id" value="87238U104"/>
        </identifiers>
        <balance>17999.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>386978.500000000000</valUSD>
        <pctVal>0.2870675382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TOTVS SA</name>
        <lei>N/A</lei>
        <title>TOTVS SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BRTOTSACNOR8"/>
          <ticker value="TOTS3 BZ"/>
          <other otherDesc="Internal Id" value="891525990"/>
        </identifiers>
        <balance>82000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.022700000"/>
        <valUSD>1315807.790000000000</valUSD>
        <pctVal>0.9760896355</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cleanaway Waste Management Ltd</name>
        <lei>549300D5C72CV6CIBS66</lei>
        <title>Cleanaway Waste Management Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000CWY3"/>
          <ticker value="CWY AU"/>
          <other otherDesc="Internal Id" value="893935999"/>
        </identifiers>
        <balance>516953.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.425009000"/>
        <valUSD>729634.830000000000</valUSD>
        <pctVal>0.5412561019</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Trelleborg AB</name>
        <lei>213800XY16PAWG2PAD14</lei>
        <title>Trelleborg AB</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0000114837"/>
          <ticker value="TRELB SS"/>
          <other otherDesc="Internal Id" value="894601996"/>
        </identifiers>
        <balance>76648.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.366350000"/>
        <valUSD>1379811.130000000000</valUSD>
        <pctVal>1.0235684522</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>Ushio Inc</name>
        <lei>N/A</lei>
        <title>Ushio Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3156400008"/>
          <ticker value="6925 JP"/>
          <other otherDesc="Internal Id" value="917295990"/>
        </identifiers>
        <balance>49600.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>735471.750000000000</valUSD>
        <pctVal>0.5455860331</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VITASOY INTERNATIONAL HOLDINGS</name>
        <lei>N/A</lei>
        <title>Vitasoy International Holdings Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="HK0345001611"/>
          <ticker value="345 HK"/>
          <other otherDesc="Internal Id" value="928480995"/>
        </identifiers>
        <balance>280000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.792300000"/>
        <valUSD>1015732.690000000000</valUSD>
        <pctVal>0.7534885860</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WH SMITH PLC</name>
        <lei>2138001KJNGUJ34G7X91</lei>
        <title>WH Smith PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B2PDGW16"/>
          <ticker value="SMWH LN"/>
          <other otherDesc="Internal Id" value="929276996"/>
        </identifiers>
        <balance>69338.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.754945000"/>
        <valUSD>2389650.190000000000</valUSD>
        <pctVal>1.7726850386</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>Washtec AG</name>
        <lei>391200HHWCQ0KBSG9U91</lei>
        <title>Washtec AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0007507501"/>
          <ticker value="WSU GR"/>
          <other otherDesc="Internal Id" value="941009995"/>
        </identifiers>
        <balance>20607.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.891504000"/>
        <valUSD>1241268.580000000000</valUSD>
        <pctVal>0.9207951230</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>Azbil Corp</name>
        <lei>N/A</lei>
        <title>Azbil Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3937200008"/>
          <ticker value="6845 JP"/>
          <other otherDesc="Internal Id" value="984629998"/>
        </identifiers>
        <balance>39384.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>1109278.460000000000</valUSD>
        <pctVal>0.8228825030</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>YOKOGAWA ELECTRIC CORP</name>
        <lei>529900MV0U7C9WWF4L22</lei>
        <title>Yokogawa Electric Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3955000009"/>
          <ticker value="6841 JP"/>
          <other otherDesc="Internal Id" value="986001998"/>
        </identifiers>
        <balance>51200.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>899127.270000000000</valUSD>
        <pctVal>0.6669886103</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zee Entertainment Enterprises Ltd</name>
        <lei>N/A</lei>
        <title>Zee Entertainment Enterprises Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE256A01028"/>
          <ticker value="Z IN"/>
          <other otherDesc="Internal Id" value="989208996"/>
        </identifiers>
        <balance>211235.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.378150000"/>
        <valUSD>864730.550000000000</valUSD>
        <pctVal>0.6414725113</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kardex AG</name>
        <lei>529900JKKMQ07D6QZ480</lei>
        <title>Kardex AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0100837282"/>
          <ticker value="KARN SW"/>
          <other otherDesc="Internal Id" value="B00ZC75"/>
        </identifiers>
        <balance>5613.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.967800000"/>
        <valUSD>945359.580000000000</valUSD>
        <pctVal>0.7012845606</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>AKKA TECHNOLOGIES SE (PARIS BRANCH)</name>
        <lei>969500T8J3DEVXVDFA03</lei>
        <title>Akka Technologies</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0004180537"/>
          <ticker value="AKA FP"/>
          <other otherDesc="Internal Id" value="B188LG599"/>
        </identifiers>
        <balance>28291.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.891504000"/>
        <valUSD>2086917.770000000000</valUSD>
        <pctVal>1.5481127418</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>Stella International Holdings Ltd</name>
        <lei>N/A</lei>
        <title>Stella International Holdings Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG846981028"/>
          <ticker value="1836 HK"/>
          <other otherDesc="Internal Id" value="B1Z656098"/>
        </identifiers>
        <balance>449500.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.792300000"/>
        <valUSD>721064.380000000000</valUSD>
        <pctVal>0.5348983896</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sul America SA</name>
        <lei>N/A</lei>
        <title>Sul America SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BRSULACDAM12"/>
          <ticker value="SULA11 BZ"/>
          <other otherDesc="Internal Id" value="B27WYK097"/>
        </identifiers>
        <balance>97700.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.022700000"/>
        <valUSD>1455287.240000000000</valUSD>
        <pctVal>1.0795579738</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hypoport AG</name>
        <lei>391200GNIFXXP6KRYQ46</lei>
        <title>Hypoport AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0005493365"/>
          <ticker value="HYQ GR"/>
          <other otherDesc="Internal Id" value="B28XLF6"/>
        </identifiers>
        <balance>4029.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.891504000"/>
        <valUSD>1421342.820000000000</valUSD>
        <pctVal>1.0543773990</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>Value Partners Group Ltd</name>
        <lei>549300RYVTCSHFKXHB81</lei>
        <title>Value Partners Group Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG931751005"/>
          <ticker value="806 HK"/>
          <other otherDesc="Internal Id" value="B28XTQ394"/>
        </identifiers>
        <balance>781000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.792300000"/>
        <valUSD>481401.010000000000</valUSD>
        <pctVal>0.3571118365</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Koh Young Technology Inc</name>
        <lei>N/A</lei>
        <title>Koh Young Technology Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KR7098460009"/>
          <ticker value="098460 KS"/>
          <other otherDesc="Internal Id" value="B39Q399"/>
        </identifiers>
        <balance>19387.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.450000000"/>
        <valUSD>1766668.610000000000</valUSD>
        <pctVal>1.3105462156</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Persol Holdings Co Ltd</name>
        <lei>N/A</lei>
        <title>Persol Holdings Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3547670004"/>
          <ticker value="2181 JP"/>
          <other otherDesc="Internal Id" value="B3CY70990"/>
        </identifiers>
        <balance>30600.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>573479.220000000000</valUSD>
        <pctVal>0.4254170914</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STROEER SE &amp; CO KGAA</name>
        <lei>529900MBF3N1ATE55378</lei>
        <title>Stroeer SE &amp; Co KGaA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0007493991"/>
          <ticker value="SAX GR"/>
          <other otherDesc="Internal Id" value="B3S3S5294"/>
        </identifiers>
        <balance>14897.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.891504000"/>
        <valUSD>1200191.530000000000</valUSD>
        <pctVal>0.8903234363</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>Evolution Mining Ltd</name>
        <lei>254900BCFW5QO5LW8F27</lei>
        <title>Evolution Mining Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000EVN4"/>
          <ticker value="EVN AU"/>
          <other otherDesc="Internal Id" value="B3X0F9191"/>
        </identifiers>
        <balance>389495.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.425009000"/>
        <valUSD>1035447.190000000000</valUSD>
        <pctVal>0.7681131530</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>carsales.com Ltd</name>
        <lei>5299009TFWZGH2AN7D11</lei>
        <title>carsales.com Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000CAR3"/>
          <ticker value="CAR AU"/>
          <other otherDesc="Internal Id" value="B41C3S199"/>
        </identifiers>
        <balance>133803.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.425009000"/>
        <valUSD>1560381.390000000000</valUSD>
        <pctVal>1.1575186846</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tower Bersama Infrastructure Tbk PT</name>
        <lei>213800ELUARKGNPAPY10</lei>
        <title>Tower Bersama Infrastructure Tbk PT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ID1000116908"/>
          <ticker value="TBIG IJ"/>
          <other otherDesc="Internal Id" value="B4MW04990"/>
        </identifiers>
        <balance>9629500.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="13882.500000000"/>
        <valUSD>852535.720000000000</valUSD>
        <pctVal>0.6324261693</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KRUK SA</name>
        <lei>259400T1FZYBIW8XUJ78</lei>
        <title>KRUK SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="PLKRK0000010"/>
          <ticker value="KRU PW"/>
          <other otherDesc="Internal Id" value="B4PTLY0"/>
        </identifiers>
        <balance>24604.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="PLN" exchangeRt="3.793900000"/>
        <valUSD>1086262.160000000000</valUSD>
        <pctVal>0.8058086021</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mapletree Commercial Trust</name>
        <lei>549300BF18K4IC5LZ208</lei>
        <title>Mapletree Commercial Trust</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG2D18969584"/>
          <ticker value="MCT SP"/>
          <other otherDesc="Internal Id" value="B5143W898"/>
        </identifiers>
        <balance>1144878.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.344950000"/>
        <valUSD>2035883.270000000000</valUSD>
        <pctVal>1.5102544415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Parex Resources Inc</name>
        <lei>549300U7LWRGTY6XWK67</lei>
        <title>Parex Resources Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA69946Q1046"/>
          <ticker value="PXT CN"/>
          <other otherDesc="Internal Id" value="B575D1490"/>
        </identifiers>
        <balance>43035.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.298550000"/>
        <valUSD>800350.580000000000</valUSD>
        <pctVal>0.5937143038</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CES Energy Solutions Corp</name>
        <lei>984500NF54914EB1B646</lei>
        <title>CES Energy Solutions Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA15713J1049"/>
          <ticker value="CEU CN"/>
          <other otherDesc="Internal Id" value="B5KW4L997"/>
        </identifiers>
        <balance>297201.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.298550000"/>
        <valUSD>533270.440000000000</valUSD>
        <pctVal>0.3955895028</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Koei Tecmo Holdings Co Ltd</name>
        <lei>N/A</lei>
        <title>Koei Tecmo Holdings Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3283460008"/>
          <ticker value="3635 JP"/>
          <other otherDesc="Internal Id" value="B60DR0990"/>
        </identifiers>
        <balance>27200.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>710177.450000000000</valUSD>
        <pctVal>0.5268222712</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Parade Technologies Ltd</name>
        <lei>529900D9FDQHQKAQLY02</lei>
        <title>Parade Technologies Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG6892A1085"/>
          <ticker value="4966 TT"/>
          <other otherDesc="Internal Id" value="B6RV676"/>
        </identifiers>
        <balance>51000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977000000"/>
        <valUSD>1048355.740000000000</valUSD>
        <pctVal>0.7776889451</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Corp Inmobiliaria Vesta SAB de CV</name>
        <lei>4469000001BIRIFZJ959</lei>
        <title>Corp Inmobiliaria Vesta SAB de CV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MX01VE0M0003"/>
          <ticker value="VESTA* MM"/>
          <other otherDesc="Internal Id" value="B8F6ZF8"/>
        </identifiers>
        <balance>425500.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.907500000"/>
        <valUSD>767846.620000000000</valUSD>
        <pctVal>0.5696022878</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>Voltronic Power Technology Corp</name>
        <lei>N/A</lei>
        <title>Voltronic Power Technology Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0006409006"/>
          <ticker value="6409 TT"/>
          <other otherDesc="Internal Id" value="B96HCH8"/>
        </identifiers>
        <balance>61375.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977000000"/>
        <valUSD>1465116.530000000000</valUSD>
        <pctVal>1.0868495161</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PI Industries Ltd</name>
        <lei>335800PEGP94E4CC1D11</lei>
        <title>PI Industries Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE603J01030"/>
          <ticker value="PI IN"/>
          <other otherDesc="Internal Id" value="B992PT3"/>
        </identifiers>
        <balance>29673.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.378150000"/>
        <valUSD>601082.970000000000</valUSD>
        <pctVal>0.4458940444</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Star Entertainment Grp Ltd/The</name>
        <lei>N/A</lei>
        <title>Star Entertainment Grp Ltd/The</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000SGR6"/>
          <ticker value="SGR AU"/>
          <other otherDesc="Internal Id" value="BD5ZR98"/>
        </identifiers>
        <balance>367232.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.425009000"/>
        <valUSD>1184691.710000000000</valUSD>
        <pctVal>0.8788253940</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Solasto Corp</name>
        <lei>N/A</lei>
        <title>Solasto Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3436250009"/>
          <ticker value="6197 JP"/>
          <other otherDesc="Internal Id" value="BD97240"/>
        </identifiers>
        <balance>130000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>1520774.500000000000</valUSD>
        <pctVal>1.1281375887</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vivo Energy PLC</name>
        <lei>213800TR7V9QN896AU56</lei>
        <title>Vivo Energy PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BDGT2M75"/>
          <ticker value="VVO LN"/>
          <other otherDesc="Internal Id" value="BDGT2M7"/>
        </identifiers>
        <balance>285727.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.754945000"/>
        <valUSD>467793.770000000000</valUSD>
        <pctVal>0.3470177437</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>TCS Group Holding PLC</name>
        <lei>549300XQRN9MR54V1W18</lei>
        <title>TCS Group Holding PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="US87238U2033"/>
          <ticker value="TCS LI"/>
          <other otherDesc="Internal Id" value="BF233S0"/>
        </identifiers>
        <balance>54714.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1176351.000000000000</valUSD>
        <pctVal>0.8726381069</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Muangthai Capital PCL</name>
        <lei>N/A</lei>
        <title>Muangthai Leasing PCL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TH6068010Y10"/>
          <ticker value="MTC/F TB"/>
          <other otherDesc="Internal Id" value="BFXP664"/>
        </identifiers>
        <balance>402900.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.953750000"/>
        <valUSD>856293.240000000000</valUSD>
        <pctVal>0.6352135645</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Carel Industries SpA</name>
        <lei>815600115DA6E507AE33</lei>
        <title>CAREL INDUSTRIES SPA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0005331019"/>
          <ticker value="CRL IM"/>
          <other otherDesc="Internal Id" value="BG1VQ16"/>
        </identifiers>
        <balance>102741.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.891504000"/>
        <valUSD>1597289.820000000000</valUSD>
        <pctVal>1.1848980148</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RIGHTMOVE PLC</name>
        <lei>N/A</lei>
        <title>RIGHTMOVE PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BGDT3G23"/>
          <ticker value="RMV LN"/>
          <other otherDesc="Internal Id" value="BGDT3G2"/>
        </identifiers>
        <balance>154304.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.754945000"/>
        <valUSD>1294788.060000000000</valUSD>
        <pctVal>0.9604968257</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>National Storage REIT</name>
        <lei>N/A</lei>
        <title>National Storage REIT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000NSR2"/>
          <ticker value="NSR AU"/>
          <other otherDesc="Internal Id" value="BGP6479"/>
        </identifiers>
        <balance>864376.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.425009000"/>
        <valUSD>1112885.260000000000</valUSD>
        <pctVal>0.8255580914</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Silergy Corp</name>
        <lei>N/A</lei>
        <title>Silergy Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG8190F1028"/>
          <ticker value="6415 TT"/>
          <other otherDesc="Internal Id" value="BH4DMW9"/>
        </identifiers>
        <balance>12500.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977000000"/>
        <valUSD>398004.030000000000</valUSD>
        <pctVal>0.2952464726</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AddTech AB</name>
        <lei>549300QZ5U2IDRHPWL60</lei>
        <title>AddTech AB</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0005568136"/>
          <ticker value="ADDTB SS"/>
          <other otherDesc="Internal Id" value="BH57BM3"/>
        </identifiers>
        <balance>50688.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.366350000"/>
        <valUSD>1639749.100000000000</valUSD>
        <pctVal>1.2163950643</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>Cholamandalam Investment and Finance Co Ltd</name>
        <lei>3358008DNPV45O4EII52</lei>
        <title>Cholamandalam Investment and Finance Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE121A01024"/>
          <ticker value="CIFC IN"/>
          <other otherDesc="Internal Id" value="BJ9K2H4"/>
        </identifiers>
        <balance>155917.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.378150000"/>
        <valUSD>667425.370000000000</valUSD>
        <pctVal>0.4951080174</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sectra AB</name>
        <lei>549300R9ZBT8YSFFK266</lei>
        <title>Sectra AB</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0012853661"/>
          <ticker value="SECTB SS"/>
          <other otherDesc="Internal Id" value="BJVLV90"/>
        </identifiers>
        <balance>31969.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.366350000"/>
        <valUSD>1342933.160000000000</valUSD>
        <pctVal>0.9962117177</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>Invesco Office J-Reit Inc</name>
        <lei>353800L26AROSFHOI265</lei>
        <title>Invesco Office J-Reit Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3047760008"/>
          <ticker value="3298 JP"/>
          <other otherDesc="Internal Id" value="BMBL9L9"/>
        </identifiers>
        <balance>3712.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>768895.600000000000</valUSD>
        <pctVal>0.5703804398</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Link Net Tbk PT</name>
        <lei>N/A</lei>
        <title>Link Net Tbk PT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ID1000131808"/>
          <ticker value="LINK IJ"/>
          <other otherDesc="Internal Id" value="BMS8CQ9"/>
        </identifiers>
        <balance>2015600.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="13882.500000000"/>
        <valUSD>574952.350000000000</valUSD>
        <pctVal>0.4265098854</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Osisko Gold Royalties Ltd</name>
        <lei>549300TJZTXZMPQ6K004</lei>
        <title>Osisko Gold Royalties Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA68827L1013"/>
          <ticker value="OR CN"/>
          <other otherDesc="Internal Id" value="BN60CQ4"/>
        </identifiers>
        <balance>56293.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.298550000"/>
        <valUSD>547085.330000000000</valUSD>
        <pctVal>0.4058376341</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IMCD NV</name>
        <lei>724500NSJPNFJPDAUP02</lei>
        <title>IMCD NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0010801007"/>
          <ticker value="IMCD NA"/>
          <other otherDesc="Internal Id" value="BNCBD46"/>
        </identifiers>
        <balance>13500.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.891504000"/>
        <valUSD>1182019.870000000000</valUSD>
        <pctVal>0.8768433755</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>SEVEN GENERATIONS ENERGY LTD</name>
        <lei>549300XZHTA2VXQWAL67</lei>
        <title>Seven Generations Energy Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA81783Q1054"/>
          <ticker value="VII CN"/>
          <other otherDesc="Internal Id" value="BRK0MM4"/>
        </identifiers>
        <balance>126162.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.298550000"/>
        <valUSD>822911.820000000000</valUSD>
        <pctVal>0.6104506331</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TECHNOPRO HOLDINGS INC</name>
        <lei>3538001DJ8I5PJQNHU53</lei>
        <title>TechnoPro Holdings Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3545240008"/>
          <ticker value="6028 JP"/>
          <other otherDesc="Internal Id" value="BSM8SQ9"/>
        </identifiers>
        <balance>14100.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>984054.020000000000</valUSD>
        <pctVal>0.7299887849</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>XIABUXIABU CATERING MANAGEMENT CHINA HOLDINGS CO LTD</name>
        <lei>5299004RY3LN54RFB102</lei>
        <title>Xiabuxiabu Catering Management China Holdings Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG982971072"/>
          <ticker value="520 HK"/>
          <other otherDesc="Internal Id" value="BTF4P59"/>
        </identifiers>
        <balance>334500.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.792300000"/>
        <valUSD>437999.430000000000</valUSD>
        <pctVal>0.3249157721</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dustin Group AB</name>
        <lei>549300C3IRYAOWOT0783</lei>
        <title>Dustin Group AB</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0006625471"/>
          <ticker value="DUST SS"/>
          <other otherDesc="Internal Id" value="BVFB413"/>
        </identifiers>
        <balance>121511.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.366350000"/>
        <valUSD>974931.710000000000</valUSD>
        <pctVal>0.7232216930</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>Qualitas Controladora SAB de CV</name>
        <lei>N/A</lei>
        <title>Qualitas Controladora SAB de CV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MX01Q0000008"/>
          <ticker value="Q* MM"/>
          <other otherDesc="Internal Id" value="BYMXF65"/>
        </identifiers>
        <balance>180974.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.907500000"/>
        <valUSD>762277.900000000000</valUSD>
        <pctVal>0.5654713122</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>DoubleUGames Co Ltd</name>
        <lei>N/A</lei>
        <title>DoubleUGames Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KR7192080000"/>
          <ticker value="192080 KS"/>
          <other otherDesc="Internal Id" value="BYQ1MZ3"/>
        </identifiers>
        <balance>20217.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.450000000"/>
        <valUSD>868746.310000000000</valUSD>
        <pctVal>0.6444514735</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dometic Group AB</name>
        <lei>549300STIPMK5VSA7Y59</lei>
        <title>Dometic Group AB</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0007691613"/>
          <ticker value="DOM SS"/>
          <other otherDesc="Internal Id" value="BYSXJB2"/>
        </identifiers>
        <balance>141903.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.366350000"/>
        <valUSD>1431283.260000000000</valUSD>
        <pctVal>1.0617513943</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>KINDRED GROUP PLC</name>
        <lei>213800D1MJVOT6SNBX11</lei>
        <title>Unibet Group PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0007871645"/>
          <ticker value="KINDSDB SS"/>
          <other otherDesc="Internal Id" value="BYSY2K5"/>
        </identifiers>
        <balance>127845.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.366350000"/>
        <valUSD>782929.230000000000</valUSD>
        <pctVal>0.5807908363</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Intermediate Capital Group PLC</name>
        <lei>549300OGASR5WRKJ8R68</lei>
        <title>Intermediate Capital Group PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BYT1DJ19"/>
          <ticker value="ICP LN"/>
          <other otherDesc="Internal Id" value="BYT1DJ1"/>
        </identifiers>
        <balance>97238.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.754945000"/>
        <valUSD>2073983.640000000000</valUSD>
        <pctVal>1.5385179740</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>Corestate Capital Holding SA</name>
        <lei>529900GNB86RB7HRX793</lei>
        <title>Corestate Capital Holding SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="LU1296758029"/>
          <ticker value="CCAP GR"/>
          <other otherDesc="Internal Id" value="BZ168H4"/>
        </identifiers>
        <balance>22479.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.891504000"/>
        <valUSD>945551.000000000000</valUSD>
        <pctVal>0.7014265594</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KH Neochem Co Ltd</name>
        <lei>N/A</lei>
        <title>KH Neochem Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3277040006"/>
          <ticker value="4189 JP"/>
          <other otherDesc="Internal Id" value="BZCRNM6"/>
        </identifiers>
        <balance>59700.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>1272991.740000000000</valUSD>
        <pctVal>0.9443279277</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Genus</name>
        <lei>54930022EOITNKSIGH56</lei>
        <title>Genus PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0002074580"/>
          <ticker value="GNS LN"/>
          <other otherDesc="Internal Id" value="CM0007350"/>
        </identifiers>
        <balance>28517.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.754945000"/>
        <valUSD>1201153.440000000000</valUSD>
        <pctVal>0.8910369982</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>Varta</name>
        <lei>529900E7KB95KOXBWP63</lei>
        <title>Varta AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000A0TGJ55"/>
          <ticker value="VAR1 GR"/>
          <other otherDesc="Internal Id" value="CT1278574"/>
        </identifiers>
        <balance>18866.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.891504000"/>
        <valUSD>2557606.440000000000</valUSD>
        <pctVal>1.8972779739</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>Befesa SA</name>
        <lei>222100VXGA8L6J4ZWG61</lei>
        <title>Befesa SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="LU1704650164"/>
          <ticker value="BFSA GR"/>
          <other otherDesc="Internal Id" value="CT1279942"/>
        </identifiers>
        <balance>26979.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.891504000"/>
        <valUSD>1146918.050000000000</valUSD>
        <pctVal>0.8508042207</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aruhi Corp</name>
        <lei>549300HA73OUOVZQJP84</lei>
        <title>Aruhi Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3126290000"/>
          <ticker value="7198 JP"/>
          <other otherDesc="Internal Id" value="CT1281043"/>
        </identifiers>
        <balance>33700.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655000000"/>
        <valUSD>691970.010000000000</valUSD>
        <pctVal>0.5133156681</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ROBERTET SA</name>
        <lei>969500EUEC3HIYQOCS92</lei>
        <title>Robertet SA</title>
        <cusip>F78649120</cusip>
        <identifiers>
          <isin value="FR0000039091"/>
          <ticker value="RBT FP"/>
          <other otherDesc="Internal Id" value="F78649120"/>
        </identifiers>
        <balance>890.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.891504000"/>
        <valUSD>921442.870000000000</valUSD>
        <pctVal>0.6835427195</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>JPMorgan</name>
        <lei>ZBUT11V806EZRVTWT807</lei>
        <title>MSCI EMER MKT INDEX (ICE) MAR 20</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="MESH0"/>
          <other otherDesc="Internal Id" value="MESH0I20"/>
        </identifiers>
        <balance>21.000000000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>16790.350000000000</valUSD>
        <pctVal>0.0124553804</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>JPMorgan</counterpartyName>
              <counterpartyLei>ZBUT11V806EZRVTWT807</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>MSCI EMER MKT INDEX (ICE) MAR 20</issuerName>
                <issueTitle>MSCI EMER MKT INDEX (ICE) MAR 20</issueTitle>
                <identifiers>
                  <cusip value="000000000"/>
                  <other otherDesc="Contract Identifier" value="MESH0I20"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-03-20</expDate>
            <notionalAmt>1159419.650000000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>16790.350000000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMorgan</name>
        <lei>ZBUT11V806EZRVTWT807</lei>
        <title>EMINI MSCI EAFE INDEX MAR 20</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="MFSH0"/>
          <other otherDesc="Internal Id" value="MFSH0I20"/>
        </identifiers>
        <balance>44.000000000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1789.230000000000</valUSD>
        <pctVal>0.0013272827</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>JPMorgan</counterpartyName>
              <counterpartyLei>ZBUT11V806EZRVTWT807</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>EMINI MSCI EAFE INDEX MAR 20</issuerName>
                <issueTitle>EMINI MSCI EAFE INDEX MAR 20</issueTitle>
                <identifiers>
                  <cusip value="000000000"/>
                  <other otherDesc="Contract Identifier" value="MFSH0I20"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-03-20</expDate>
            <notionalAmt>4478510.770000000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>1789.230000000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-01-23</ncom:dateSigned>
      <ncom:nameOfApplicant>Columbia Funds Variable Series Trust II</ncom:nameOfApplicant>
      <ncom:signature>Martha Skinner</ncom:signature>
      <ncom:signerName>Martha Skinner</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
