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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CCL Industries, Inc.</name>
        <lei>549300TD3EMSRRC0YH75</lei>
        <title>CCL Industries, Inc., Class B</title>
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          <isin value="CA1249003098"/>
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        <balance>509607.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CAE, Inc.</name>
        <lei>549300FFM2BEH2GF1E44</lei>
        <title>CAE, Inc.</title>
        <cusip>124765108</cusip>
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          <isin value="CA1247651088"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Cameco Corp.</name>
        <lei>N4BHALMXL3GMZKCUON55</lei>
        <title>Cameco Corp.</title>
        <cusip>13321L108</cusip>
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          <isin value="CA13321L1085"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Rogers Communications, Inc.</name>
        <lei>5493000M6Z4XFIP6PF03</lei>
        <title>Rogers Communications, Inc., Class B</title>
        <cusip>775109200</cusip>
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          <isin value="CA7751092007"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Canadian Imperial Bank of Commerce</name>
        <lei>2IGI19DL77OX0HC3ZE78</lei>
        <title>Canadian Imperial Bank of Commerce</title>
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          <isin value="CA1360691010"/>
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        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Canadian Natural Resources Ltd.</name>
        <lei>549300T15RIMIKZC5Q38</lei>
        <title>Canadian Natural Resources Ltd.</title>
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          <isin value="CA1363851017"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Canadian Tire Corp. Ltd.</name>
        <lei>549300RLHDA7VQYMUB14</lei>
        <title>Canadian Tire Corp. Ltd., Class A</title>
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          <isin value="CA1366812024"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Canadian National Railway Co.</name>
        <lei>3SU7BEP7TH9YEQOZCS77</lei>
        <title>Canadian National Railway Co.</title>
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          <isin value="CA1363751027"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Gildan Activewear, Inc.</name>
        <lei>549300SB3IBI34M00Z45</lei>
        <title>Gildan Activewear, Inc.</title>
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          <isin value="CA3759161035"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fortis, Inc.</name>
        <lei>549300MQYQ9Y065XPR71</lei>
        <title>Fortis, Inc.</title>
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          <isin value="CA3495531079"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>First Quantum Minerals Ltd.</name>
        <lei>549300I7UVBGWRYMYZ18</lei>
        <title>First Quantum Minerals Ltd.</title>
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          <isin value="CA3359341052"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TELUS Corp.</name>
        <lei>894500TX134IMF6NW757</lei>
        <title>TELUS Corp.</title>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Great-West Lifeco, Inc.</name>
        <lei>549300X81X4VZEESFU46</lei>
        <title>Great-West Lifeco, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Imperial Oil Ltd.</name>
        <lei>549300JZNB745JT5WY51</lei>
        <title>Imperial Oil Ltd.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Enbridge, Inc.</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge, Inc.</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>IGM Financial, Inc.</name>
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        <title>IGM Financial, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Manulife Financial Corp.</name>
        <lei>5493007GBX87QOZACS27</lei>
        <title>Manulife Financial Corp.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Loblaw Cos. Ltd.</name>
        <lei>5493008LN3O1DIDTSH67</lei>
        <title>Loblaw Cos. Ltd.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Magna International, Inc.</name>
        <lei>95RWVLFZX6VGDZNNTN43</lei>
        <title>Magna International, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Sun Life Financial, Inc.</name>
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        <title>Sun Life Financial, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Fairfax Financial Holdings Ltd.</name>
        <lei>GLS7OQD0WOEDI8YAP031</lei>
        <title>Fairfax Financial Holdings Ltd.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Metro, Inc.</name>
        <lei>549300KQ7DCG4IXSNW78</lei>
        <title>Metro, Inc.</title>
        <cusip>59162N109</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Emera, Inc.</name>
        <lei>NQZVQT2P5IUF2PGA1Q48</lei>
        <title>Emera, Inc.</title>
        <cusip>290876101</cusip>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="52612053.08000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pan American Silver Corp.</name>
        <lei>549300MKTF5851TYIB83</lei>
        <title>Pan American Silver Corp.</title>
        <cusip>697900108</cusip>
        <identifiers>
          <isin value="CA6979001089"/>
        </identifiers>
        <balance>1442321.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>62102575.57000000</valUSD>
        <pctVal>0.571894120302</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>Power Corp. of Canada</name>
        <lei>549300BE2CB8T87IJV50</lei>
        <title>Power Corp. of Canada</title>
        <cusip>739239101</cusip>
        <identifiers>
          <isin value="CA7392391016"/>
        </identifiers>
        <balance>1884498.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>128783328.03000000</valUSD>
        <pctVal>1.185948045106</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>Quebecor, Inc.</name>
        <lei>N/A</lei>
        <title>Quebecor, Inc., Class B</title>
        <cusip>748193208</cusip>
        <identifiers>
          <isin value="CA7481932084"/>
        </identifiers>
        <balance>535027.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>24758142.09000000</valUSD>
        <pctVal>0.227994342600</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>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>Royal Bank of Canada</title>
        <cusip>780087102</cusip>
        <identifiers>
          <isin value="CA7800871021"/>
        </identifiers>
        <balance>4974197.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>1041109349.62000000</valUSD>
        <pctVal>9.587433535157</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="3990319.30000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Stantec, Inc.</name>
        <lei>549300MZ7NGUZDCP2T16</lei>
        <title>Stantec, Inc.</title>
        <cusip>85472N109</cusip>
        <identifiers>
          <isin value="CA85472N1096"/>
        </identifiers>
        <balance>389826.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>27510422.78000000</valUSD>
        <pctVal>0.253339718852</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>Lundin Mining Corp.</name>
        <lei>549300FQDIM6C8HTN269</lei>
        <title>Lundin Mining Corp.</title>
        <cusip>550372106</cusip>
        <identifiers>
          <isin value="CA5503721063"/>
        </identifiers>
        <balance>2404261.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>59529835.08000000</valUSD>
        <pctVal>0.548202105183</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>Teck Resources Ltd.</name>
        <lei>T8KI5SQ2JRWHL7XY0E11</lei>
        <title>Teck Resources Ltd., Class B</title>
        <cusip>878742204</cusip>
        <identifiers>
          <isin value="CA8787422044"/>
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        <balance>1636544.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>98483326.92000000</valUSD>
        <pctVal>0.906919481139</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>Toronto-Dominion Bank (The)</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>Toronto-Dominion Bank (The)</title>
        <cusip>891160509</cusip>
        <identifiers>
          <isin value="CA8911605092"/>
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        <balance>5956681.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>714028373.39000000</valUSD>
        <pctVal>6.575389582844</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>George Weston Ltd.</name>
        <lei>549300FAHC3L1QKNT280</lei>
        <title>George Weston Ltd.</title>
        <cusip>961148509</cusip>
        <identifiers>
          <isin value="CA9611485090"/>
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        <balance>549172.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>41043442.91000000</valUSD>
        <pctVal>0.377963449369</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>JPMorgan Securities Lending Money Market Fund</name>
        <lei>5493002FD4HXUJXMRO62</lei>
        <title>JPMorgan Securities Lending Money Market Fund, Class Agency SL Shares</title>
        <cusip>46645V642</cusip>
        <identifiers>
          <isin value="N/A"/>
        </identifiers>
        <balance>439038400.61000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>439038400.61000000</valUSD>
        <pctVal>4.043044553165</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="439038400.61000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Kinross Gold Corp.</name>
        <lei>254900O9KHF2A1ZXPT47</lei>
        <title>Kinross Gold Corp.</title>
        <cusip>496902404</cusip>
        <identifiers>
          <isin value="CA4969024047"/>
        </identifiers>
        <balance>4249615.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>97975929.52000000</valUSD>
        <pctVal>0.902246927915</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>Intact Financial Corp.</name>
        <lei>5493009LXGE7Y4U9OY43</lei>
        <title>Intact Financial Corp.</title>
        <cusip>45823T106</cusip>
        <identifiers>
          <isin value="CA45823T1066"/>
        </identifiers>
        <balance>632848.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>124258238.76000000</valUSD>
        <pctVal>1.144277117232</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>Constellation Software, Inc.</name>
        <lei>549300B6PYHMCTDWQV29</lei>
        <title>Constellation Software, Inc.</title>
        <cusip>21037X100</cusip>
        <identifiers>
          <isin value="CA21037X1006"/>
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        <balance>73782.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>158053007.23000000</valUSD>
        <pctVal>1.455488515593</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>
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      </invstOrSec>
      <invstOrSec>
        <name>BCE, Inc.</name>
        <lei>5493001I9203PRB5KR45</lei>
        <title>BCE, Inc.</title>
        <cusip>05534B760</cusip>
        <identifiers>
          <isin value="CA05534B7604"/>
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        <balance>1103152.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>23930415.04000000</valUSD>
        <pctVal>0.220371917463</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="21405419.50000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Franco-Nevada Corp.</name>
        <lei>98450064C1B5D3E94864</lei>
        <title>Franco-Nevada Corp.</title>
        <cusip>351858105</cusip>
        <identifiers>
          <isin value="CA3518581051"/>
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        <balance>679083.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>144473170.40000000</valUSD>
        <pctVal>1.330433656492</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Suncor Energy, Inc.</name>
        <lei>894500XO86FKXQGPYV71</lei>
        <title>Suncor Energy, Inc.</title>
        <cusip>867224107</cusip>
        <identifiers>
          <isin value="CA8672241079"/>
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        <balance>4194557.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>281681774.78000000</valUSD>
        <pctVal>2.593968918590</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>Tourmaline Oil Corp.</name>
        <lei>894500I7AXG91VB3PM28</lei>
        <title>Tourmaline Oil Corp.</title>
        <cusip>89156V106</cusip>
        <identifiers>
          <isin value="CA89156V1067"/>
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        <balance>1302799.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>57535603.73000000</valUSD>
        <pctVal>0.529837501572</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>
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      <invstOrSec>
        <name>Keyera Corp.</name>
        <lei>254900LXI62FUHZGH122</lei>
        <title>Keyera Corp.</title>
        <cusip>493271100</cusip>
        <identifiers>
          <isin value="CA4932711001"/>
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        <balance>813239.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>34551852.79000000</valUSD>
        <pctVal>0.318183284264</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="2309065.87000000"/>
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      <invstOrSec>
        <name>AltaGas Ltd.</name>
        <lei>2549008X5V70MOS4HM10</lei>
        <title>AltaGas Ltd.</title>
        <cusip>021361100</cusip>
        <identifiers>
          <isin value="CA0213611001"/>
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        <balance>1102968.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>43887402.39000000</valUSD>
        <pctVal>0.404153083053</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Pembina Pipeline Corp.</name>
        <lei>5493002W3L9YICM6FU21</lei>
        <title>Pembina Pipeline Corp.</title>
        <cusip>706327103</cusip>
        <identifiers>
          <isin value="CA7063271034"/>
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        <balance>2056509.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>100547937.98000000</valUSD>
        <pctVal>0.925932201869</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>Dollarama, Inc.</name>
        <lei>5493002GJ0NJP1HI0C79</lei>
        <title>Dollarama, Inc.</title>
        <cusip>25675T107</cusip>
        <identifiers>
          <isin value="CA25675T1075"/>
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        <balance>968998.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>132003815.00000000</valUSD>
        <pctVal>1.215605068921</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Cenovus Energy, Inc.</name>
        <lei>254900LJGL2N2XEMD470</lei>
        <title>Cenovus Energy, Inc.</title>
        <cusip>15135U109</cusip>
        <identifiers>
          <isin value="CA15135U1093"/>
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        <balance>4763784.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>143642436.55000000</valUSD>
        <pctVal>1.322783542145</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>ARC Resources Ltd.</name>
        <lei>5493000OCGNQZEVTDT08</lei>
        <title>ARC Resources Ltd.</title>
        <cusip>00208D408</cusip>
        <identifiers>
          <isin value="CA00208D4084"/>
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        <balance>2006898.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>48001776.18000000</valUSD>
        <pctVal>0.442041788274</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>TMX Group Ltd.</name>
        <lei>549300N65GFVKSHGJW59</lei>
        <title>TMX Group Ltd.</title>
        <cusip>87262K105</cusip>
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          <isin value="CA87262K1057"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Ivanhoe Mines Ltd.</name>
        <lei>5299006XZISURYIA4G32</lei>
        <title>Ivanhoe Mines Ltd., Class A</title>
        <cusip>46579R104</cusip>
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          <isin value="CA46579R1047"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Nutrien Ltd.</name>
        <lei>5493002QQ7GD21OWF963</lei>
        <title>Nutrien Ltd.</title>
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          <isin value="CA67077M1086"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TFI International, Inc.</name>
        <lei>5493007R9W7KO7SJN678</lei>
        <title>TFI International, Inc.</title>
        <cusip>87241L109</cusip>
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          <isin value="CA87241L1094"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wheaton Precious Metals Corp.</name>
        <lei>549300XSFG5ZCGVYD886</lei>
        <title>Wheaton Precious Metals Corp.</title>
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          <isin value="CA9628791027"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WSP Global, Inc.</name>
        <lei>549300IQ87LU6X6ERQ78</lei>
        <title>WSP Global, Inc.</title>
        <cusip>92938W202</cusip>
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          <isin value="CA92938W2022"/>
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        <balance>476985.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CGI, Inc.</name>
        <lei>549300WSRCZY73ZG3090</lei>
        <title>CGI, Inc.</title>
        <cusip>12532H104</cusip>
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          <isin value="CA12532H1047"/>
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        <balance>658257.00000000</balance>
        <units>NS</units>
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        <pctVal>0.443700223399</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>iA Financial Corp., Inc.</name>
        <lei>549300ZXLJVHQAIXV215</lei>
        <title>iA Financial Corp., Inc.</title>
        <cusip>45075E104</cusip>
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          <isin value="CA45075E1043"/>
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        <pctVal>0.435466436479</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TC Energy Corp.</name>
        <lei>549300UGKOFV2IWJJG27</lei>
        <title>TC Energy Corp.</title>
        <cusip>87807B107</cusip>
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          <isin value="CA87807B1076"/>
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        <balance>3680213.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
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        <pctVal>2.282177519229</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GFL Environmental, Inc.</name>
        <lei>894500E7NLBY9VZRT696</lei>
        <title>GFL Environmental, Inc.</title>
        <cusip>36168Q104</cusip>
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          <isin value="CA36168Q1046"/>
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        <balance>927793.00000000</balance>
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        <pctVal>0.352824808688</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Alimentation Couche-Tard, Inc.</name>
        <lei>549300OSW32RVX8CCZ87</lei>
        <title>Alimentation Couche-Tard, Inc.</title>
        <cusip>01626P148</cusip>
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          <isin value="CA01626P1484"/>
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        <balance>2446814.00000000</balance>
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        <pctVal>1.462832311842</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Canadian Pacific Kansas City Ltd.</name>
        <lei>N/A</lei>
        <title>Canadian Pacific Kansas City Ltd.</title>
        <cusip>13646K108</cusip>
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          <isin value="CA13646K1084"/>
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        <balance>3153645.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RB Global, Inc.</name>
        <lei>5493002H8U24DJXQ4886</lei>
        <title>RB Global, Inc.</title>
        <cusip>74935Q107</cusip>
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          <isin value="CA74935Q1072"/>
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        <balance>633972.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Bombardier, Inc.</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
        <title>Bombardier, Inc., Class A</title>
        <cusip>097751879</cusip>
        <identifiers>
          <isin value="CA0977518798"/>
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        <balance>5721.00000000</balance>
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        <pctVal>0.012899542714</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Bombardier, Inc.</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
        <title>Bombardier, Inc., Class B</title>
        <cusip>097751861</cusip>
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          <isin value="CA0977518616"/>
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        <balance>307191.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Barrick Mining Corp.</name>
        <lei>0O4KBQCJZX82UKGCBV73</lei>
        <title>Barrick Mining Corp.</title>
        <cusip>06849F108</cusip>
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          <isin value="CA06849F1080"/>
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        <pctVal>2.005497376615</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Brookfield Asset Management Ltd.</name>
        <lei>549300CZ84WPNJZKY093</lei>
        <title>Brookfield Asset Management Ltd., Class A</title>
        <cusip>113004105</cusip>
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        <balance>1392154.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Brookfield Corp.</name>
        <lei>C6J3FGIWG6MBDGTE8F80</lei>
        <title>Brookfield Corp.</title>
        <cusip>11271J107</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Constellation Software, Inc.</title>
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        <pctVal>0.000000000460</pctVal>
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        <issuerConditional desc="Warrant" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

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                <issueTitle>Constellation Software, Inc.</issueTitle>
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        <name>Celestica, Inc.</name>
        <lei>549300J3CG5T6RZWLN53</lei>
        <title>Celestica, Inc.</title>
        <cusip>15101Q207</cusip>
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        <invCountry>CA</invCountry>
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        <name>Restaurant Brands International, Inc.</name>
        <lei>5299009RXTX9DN9AKJ98</lei>
        <title>Restaurant Brands International, Inc.</title>
        <cusip>76131D103</cusip>
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          <isin value="CA76131D1033"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>Lundin Gold, Inc.</name>
        <lei>549300ZOV16K515FC525</lei>
        <title>Lundin Gold, Inc.</title>
        <cusip>550371108</cusip>
        <identifiers>
          <isin value="CA5503711080"/>
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        <balance>351481.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>19679526.12000000</valUSD>
        <pctVal>0.181226063091</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>
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      <invstOrSec>
        <name>Thomson Reuters Corp.</name>
        <lei>549300561UZND4C7B569</lei>
        <title>Thomson Reuters Corp.</title>
        <cusip>884903881</cusip>
        <identifiers>
          <isin value="CA8849038812"/>
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        <balance>460541.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>45178584.24000000</valUSD>
        <pctVal>0.416043400024</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="6857944.44000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shopify, Inc.</name>
        <lei>549300HGQ43STJLLP808</lei>
        <title>Shopify, Inc., Class A</title>
        <cusip>82509L107</cusip>
        <identifiers>
          <isin value="CA82509L1076"/>
        </identifiers>
        <balance>4337338.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>507974571.35000000</valUSD>
        <pctVal>4.677868316278</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>Waste Connections, Inc.</name>
        <lei>549300HDLRTPBQU69P29</lei>
        <title>Waste Connections, Inc.</title>
        <cusip>94106B101</cusip>
        <identifiers>
          <isin value="CA94106B1013"/>
        </identifiers>
        <balance>901712.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>151056137.30000000</valUSD>
        <pctVal>1.391055297860</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>Hydro One Ltd.</name>
        <lei>5493007QZDXTP1W2VL44</lei>
        <title>Hydro One Ltd.</title>
        <cusip>448811208</cusip>
        <identifiers>
          <isin value="CA4488112083"/>
        </identifiers>
        <balance>1125825.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>46901009.38000000</valUSD>
        <pctVal>0.431904977442</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alamos Gold, Inc.</name>
        <lei>894500GIHFJZW7YS9660</lei>
        <title>Alamos Gold, Inc., Class A</title>
        <cusip>011532108</cusip>
        <identifiers>
          <isin value="CA0115321089"/>
        </identifiers>
        <balance>1489771.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>41403486.94000000</valUSD>
        <pctVal>0.381279045573</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>Canadian Dollar</name>
        <lei>N/A</lei>
        <title>Canadian Dollar</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="ISO Currency code" value="CAD"/>
        </identifiers>
        <balance>103264604.57000000</balance>
        <units>OU</units>
        <descOthUnits>Currencies</descOthUnits>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>73663091.32000000</valUSD>
        <pctVal>0.678353327902</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Foreign currencies" issuerCat="OTHER"/>
        <invCountry>CA</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>S&amp;P/TSX 60 Index</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="PTU6IDX"/>
          <other otherDesc="Future Ticker" value="PTU6 Index"/>
        </identifiers>
        <balance>277.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40185000"/>
        <valUSD>1042298.85000000</valUSD>
        <pctVal>0.009598387481</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Canadian Derivatives Clearing</counterpartyName>
              <counterpartyLei>5493004XJK1P32XQLA57</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P/TSX 60 Index</indexName>
                <indexIdentifier>XC0009654721</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2026-09-17</expDate>
            <notionalAmt>115680740.00000000</notionalAmt>
            <curCd>CAD</curCd>
            <unrealizedAppr>1042298.85000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-08-31</ncom:dateSigned>
      <ncom:nameOfApplicant>J.P. Morgan Exchange-Traded Fund Trust</ncom:nameOfApplicant>
      <ncom:signature>Timothy J. Clemens</ncom:signature>
      <ncom:signerName>Timothy J. Clemens</ncom:signerName>
      <ncom:title>Treasurer and Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
