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        <assetCat>EC</assetCat>
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        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HELLENIC TELECOMMUNICATIONS ORGANIZATION S.A.</name>
        <lei>ELPUFM0XZRZO4LFXW404</lei>
        <title>HELLENIC TELECOMMUN ORGANIZA COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GRS260333000"/>
        </identifiers>
        <balance>493914.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>9387566.31000000</valUSD>
        <pctVal>4.891593222302</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Piraeus Port Authority SA</name>
        <lei>549300UNB6JCR0XZT864</lei>
        <title>PIRAEUS PORT AUTHORITY SA COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GRS470003013"/>
        </identifiers>
        <balance>49316.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>2214370.81000000</valUSD>
        <pctVal>1.153845510984</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>METLEN Energy &amp; Metals S.A.</name>
        <lei>213800KT8MEUJEJ2KW41</lei>
        <title>METLEN ENERGY &amp; METALS SA COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GRS393503008"/>
        </identifiers>
        <balance>203083.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>9603561.21000000</valUSD>
        <pctVal>5.004142008004</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TSAKOS ENERGY NAVIGATION LIMITED</name>
        <lei>549300IFUTS62LRRCU54</lei>
        <title>TSAKOS ENERGY NAVIGATION LTD COMMON STOCK</title>
        <cusip>G9108L173</cusip>
        <identifiers>
          <isin value="BMG9108L1735"/>
        </identifiers>
        <balance>122038.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2040475.36000000</valUSD>
        <pctVal>1.063233548680</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Athens International Airport S.A.</name>
        <lei>213800BC45UCMQYR4995</lei>
        <title>ATHENS INTERNATIONAL AIRPORT COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GRS536003007"/>
        </identifiers>
        <balance>293937.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>3053977.70000000</valUSD>
        <pctVal>1.591340729329</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ELLAKTOR S.A.</name>
        <lei>213800VUQHMOGEWKNG87</lei>
        <title>ELLAKTOR SA COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GRS191213008"/>
        </identifiers>
        <balance>513266.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>756158.62000000</valUSD>
        <pctVal>0.394012703445</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TITAN CEMENT INTERNATIONAL SA</name>
        <lei>213800H2CDP9I374WH83</lei>
        <title>TITAN CEMENT INTERNATIONAL T COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BE0974338700"/>
        </identifiers>
        <balance>150003.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>6948530.46000000</valUSD>
        <pctVal>3.620681162794</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Capital Clean Energy Carriers Corp.</name>
        <lei>254900YICSDPQCJS9616</lei>
        <title>CAPITAL CLEAN ENERGY CARRIER COMMON STOCK</title>
        <cusip>Y00408107</cusip>
        <identifiers>
          <isin value="MHY004081078"/>
        </identifiers>
        <balance>84856.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1600384.16000000</valUSD>
        <pctVal>0.833914568656</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aktor Holding Company Technical And Energy Projects SA</name>
        <lei>213800SNEJL2ZM642D98</lei>
        <title>AKTOR HOLDINGS TECHNICAL AND ENERGY PROJECTS COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GRS432003028"/>
        </identifiers>
        <balance>318004.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>1787575.06000000</valUSD>
        <pctVal>0.931454410983</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JUMBO S.A.</name>
        <lei>549300TGIVUUMY40MZ05</lei>
        <title>JUMBO SA COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GRS282183003"/>
        </identifiers>
        <balance>273796.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>8652414.23000000</valUSD>
        <pctVal>4.508526428083</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GEK TERNA S.A.</name>
        <lei>2138003TO2MTRHWVP686</lei>
        <title>GEK TERNA SA COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GRS145003000"/>
        </identifiers>
        <balance>249540.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>5185394.11000000</valUSD>
        <pctVal>2.701961066993</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Optima bank S.A.</name>
        <lei>2138008NSD1X1XFUK750</lei>
        <title>OPTIMA BANK SA COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GRS533003000"/>
        </identifiers>
        <balance>267056.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>4857219.51000000</valUSD>
        <pctVal>2.530958637175</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MOTOR OIL (HELLAS) CORINTH REFINERIES S.A.</name>
        <lei>213800U3Y9UL7Y4QVM11</lei>
        <title>MOTOR OIL (HELLAS) SA COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GRS426003000"/>
        </identifiers>
        <balance>257515.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>6235159.15000000</valUSD>
        <pctVal>3.248963706986</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Piraeus Financial Holdings S.A.</name>
        <lei>M6AD1Y1KW32H8THQ6F76</lei>
        <title>Piraeus Financial Holdings S.A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GRS014003032"/>
        </identifiers>
        <balance>3429979.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>19140351.15000000</valUSD>
        <pctVal>9.973491410451</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HELLENIC EXCHANGES - ATHENS STOCK EXCHANGE S.A.</name>
        <lei>549300GSRN07MNENPL97</lei>
        <title>HELLENIC EXCHANGES - ATHENS COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GRS395363005"/>
        </identifiers>
        <balance>359729.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>2150931.61000000</valUSD>
        <pctVal>1.120789152126</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HELLENiQ ENERGY Holdings Societe Anonyme</name>
        <lei>213800YUBJMZYR1SNG35</lei>
        <title>HELLENiQ ENERGY Holdings S.A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GRS298343005"/>
        </identifiers>
        <balance>407353.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>3530824.86000000</valUSD>
        <pctVal>1.839812192422</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GREEK ORGANISATION OF FOOTBALL PROGNOSTICS S.A.</name>
        <lei>213800M4NRGFJCI34834</lei>
        <title>OPAP SA COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GRS419003009"/>
        </identifiers>
        <balance>441494.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>9821572.79000000</valUSD>
        <pctVal>5.117741628172</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Athens Water Supply and Sewerage Company SA</name>
        <lei>213800SA1M6NZ4YSQU91</lei>
        <title>ATHENS WATER SUPPLY &amp; SEWAGE COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GRS359353000"/>
        </identifiers>
        <balance>272886.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>1802282.21000000</valUSD>
        <pctVal>0.939117887638</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EUROBANK ERGASIAS SERVICES AND HOLDINGS S.A.</name>
        <lei>JEUVK5RWVJEN8W0C9M24</lei>
        <title>EUROBANK ERGASIAS SERVICES A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GRS323003012"/>
        </identifiers>
        <balance>8373940.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>23616852.50000000</valUSD>
        <pctVal>12.30606866638</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Intralot S.A. Integrated Lottery Systems and Services</name>
        <lei>213800XNTZ8P8L74HM35</lei>
        <title>INTRALOT S.A.-INTEGRATED LOT COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GRS343313003"/>
        </identifiers>
        <balance>1639695.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>1938482.21000000</valUSD>
        <pctVal>1.010087825413</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>FF GROUP Common Stock</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GRS294003009"/>
        </identifiers>
        <balance>452712.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>5.15000000</valUSD>
        <pctVal>0.000002683518</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AEGEAN AIRLINES S.A.</name>
        <lei>213800VI8OH5EJM18L21</lei>
        <title>AEGEAN AIRLINES COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GRS495003006"/>
        </identifiers>
        <balance>208447.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>2796037.97000000</valUSD>
        <pctVal>1.456935688303</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LAMDA DEVELOPMENT S.A.</name>
        <lei>213800C7PQZVF38FYL54</lei>
        <title>LAMDA DEVELOPMENT SA COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GRS245213004"/>
        </identifiers>
        <balance>351879.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>2647992.47000000</valUSD>
        <pctVal>1.379793398120</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALPHA SERVICES AND HOLDINGS S.A.</name>
        <lei>5299009N55YRQC69CN08</lei>
        <title>ALPHA SERVICES AND HOLDINGS COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GRS015003007"/>
        </identifiers>
        <balance>7165007.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>17332198.36000000</valUSD>
        <pctVal>9.031314530909</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-04-30</ncom:dateSigned>
      <ncom:nameOfApplicant>GLOBAL X FUNDS</ncom:nameOfApplicant>
      <ncom:signature>Joe Costello</ncom:signature>
      <ncom:signerName>Joe Costello</ncom:signerName>
      <ncom:title>CCO</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
