<?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" xsi:schemaLocation="http://www.sec.gov/edgar/nport eis_NPORT_Filer.xsd">
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    <isConfidential>false</isConfidential>
    <filerInfo>

      <filer>
        <issuerCredentials>
          <cik>0001502745</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>


      <seriesClassInfo>
        <seriesId>S000074827</seriesId>
        <classId>C000233044</classId>
        <classId>C000233045</classId>
      </seriesClassInfo>

    </filerInfo>
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      <regName>Copeland Trust</regName>
      <regFileNumber>811-22483</regFileNumber>
      <regCik>0001502745</regCik>
      <regLei>5493005MVJ95H6N82870</regLei>
      <regStreet1>1400 PEOPLES PLAZA</regStreet1>
      <regStreet2>SUITE 104</regStreet2>
      <regCity>NEWARK</regCity>
      <regStateConditional regCountry="US" regState="US-DE"/>
      <regZipOrPostalCode>19702</regZipOrPostalCode>
      <regPhone>617-399-6935</regPhone>
      <seriesName>Copeland International Small Cap Fund</seriesName>
      <seriesId>S000074827</seriesId>
      <seriesLei>549300NF6EWQK2SMZN38</seriesLei>
      <repPdEnd>2024-11-30</repPdEnd>
      <repPdDate>2024-11-30</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>737086.13</totAssets>
      <totLiabs>177138.57</totLiabs>
      <netAssets>559947.56</netAssets>
      <assetsAttrMiscSec>0.00000000</assetsAttrMiscSec>
      <assetsInvested>0.00000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.00000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.00000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.00000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.00000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0.00000000</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0.00000000</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0.00000000</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0.00000000</amtPayAftOneYrOther>
      <delayDeliv>0.00000000</delayDeliv>
      <standByCommit>0.00000000</standByCommit>
      <liquidPref>0.00000000</liquidPref>
      <cshNotRptdInCorD>184.56000000</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn classId="C000233044" rtn1="2.24000000" rtn2="-7.03000000" rtn3="0.25000000"/>
          <monthlyTotReturn classId="C000233045" rtn1="2.24000000" rtn2="-7.02000000" rtn3="0.25000000"/>
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        <monthlyReturnCats>
          <foreignExchgContracts>
            <mon1 netRealizedGain="-93.27000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="3.91000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="-13.06000000" netUnrealizedAppr="0.00000000"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="-93.27000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="3.91000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="-13.06000000" netUnrealizedAppr="0.00000000"/>
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        <othMon1 netRealizedGain="2211.99000000" netUnrealizedAppr="9296.47000000"/>
        <othMon2 netRealizedGain="5106.11000000" netUnrealizedAppr="-46420.79000000"/>
        <othMon3 netRealizedGain="52.92000000" netUnrealizedAppr="837.62000000"/>
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      <mon1Flow redemption="0.00000000" reinvestment="0.00000000" sales="3000.00000000"/>
      <mon2Flow redemption="0.00000000" reinvestment="0.00000000" sales="3030.00000000"/>
      <mon3Flow redemption="0.00000000" reinvestment="0.00000000" sales="3000.00000000"/>

    </fundInfo>
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        <name>Air Lease Corporation</name>
        <lei>5493004NW4M4P8TMMK63</lei>
        <title>AIR LEASE C</title>
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        <balance>234.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11910.60000000</valUSD>
        <pctVal>2.127092044119</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Diploma PLC</name>
        <lei>2138008OGI7VYG8FGR19</lei>
        <title>DIPLOMA PLC</title>
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        <currencyConditional curCd="GBP" exchangeRt="0.78590000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RS Group plc</name>
        <lei>549300KVXDURRKVW7R37</lei>
        <title>RS GROUP PLC</title>
        <cusip>G29848101</cusip>
        <identifiers>
          <isin value="GB0003096442"/>
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        <balance>542.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.78590000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Halma PLC</name>
        <lei>2138007FRGLUR9KGBT40</lei>
        <title>HALMA PLC</title>
        <cusip>G42504103</cusip>
        <identifiers>
          <isin value="GB0004052071"/>
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        <balance>241.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.78590000"/>
        <valUSD>8306.90000000</valUSD>
        <pctVal>1.483513920482</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>Hill &amp; Smith PLC</name>
        <lei>2138003A3ISGQZBOWI83</lei>
        <title>HILL &amp; SMITH HLD</title>
        <cusip>G45080101</cusip>
        <identifiers>
          <isin value="GB0004270301"/>
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        <balance>291.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.78590000"/>
        <valUSD>7644.24000000</valUSD>
        <pctVal>1.365170695627</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>Howden Joinery Group PLC</name>
        <lei>213800KC1LJOJTY3JP45</lei>
        <title>HOWDEN JOINERY GROUP PLC</title>
        <cusip>G4647J102</cusip>
        <identifiers>
          <isin value="GB0005576813"/>
        </identifiers>
        <balance>617.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.78590000"/>
        <valUSD>6416.16000000</valUSD>
        <pctVal>1.145850157825</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>Mainstreet Equity Corporation</name>
        <lei>984500FB1BA3F6U3DB35</lei>
        <title>MAINSTREET EQUIT</title>
        <cusip>560915100</cusip>
        <identifiers>
          <isin value="CA5609151009"/>
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        <balance>55.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.39989000"/>
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        <pctVal>1.407863979262</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>Stella Jones Inc</name>
        <lei>5493007LOVNNLYJ6KZ35</lei>
        <title>STELLA-JONES INC</title>
        <cusip>85853F105</cusip>
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          <isin value="CA85853F1053"/>
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        <balance>130.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.39989000"/>
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        <pctVal>1.186453960081</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>Toromont Industries Ltd.</name>
        <lei>5493008W5EPRSLQ0B737</lei>
        <title>TOROMONT INDS</title>
        <cusip>891102105</cusip>
        <identifiers>
          <isin value="CA8911021050"/>
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        <balance>60.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.39989000"/>
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        <pctVal>0.880253858057</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>Interpump Group S.p.A.</name>
        <lei>815600C79D0F31F4D395</lei>
        <title>INTERPUMP SPA</title>
        <cusip>T5513W107</cusip>
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          <isin value="IT0001078911"/>
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        <currencyConditional curCd="EUR" exchangeRt="0.94660000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Vidrala SA</name>
        <lei>95980020140005399488</lei>
        <title>VIDRALA</title>
        <cusip>E9702H109</cusip>
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          <isin value="ES0183746314"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sopra Steria Group SA</name>
        <lei>96950020QIOHAAK9V551</lei>
        <title>Sopra Steria Group</title>
        <cusip>F20906115</cusip>
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          <isin value="FR0000050809"/>
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        <currencyConditional curCd="EUR" exchangeRt="0.94660000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Viscofan SA</name>
        <lei>95980020140005684765</lei>
        <title>VISCOFAN</title>
        <cusip>E97579192</cusip>
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          <isin value="ES0184262212"/>
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        <balance>89.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Arcadis NV</name>
        <lei>7245000UZH70GO047N03</lei>
        <title>Arcadis NV</title>
        <cusip>N0605M147</cusip>
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        <balance>81.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Asics Corp</name>
        <lei>3538002LJMRZ83SU0B85</lei>
        <title>ASICS CORP</title>
        <cusip>J03234150</cusip>
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          <isin value="JP3118000003"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CKD Corporation</name>
        <lei>N/A</lei>
        <title>CKD CORP</title>
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        <identifiers>
          <isin value="JP3346800000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Chiba Bank Ltd.</name>
        <lei>FGJPAKKCTZVSKZXNBS63</lei>
        <title>CHIBA BANK LTD</title>
        <cusip>J05670104</cusip>
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        <balance>1263.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Mitsubishi HC Capital Inc.</name>
        <lei>353800MZ3QX9RLMH7B09</lei>
        <title>MITSUBISHI HC CA</title>
        <cusip>J4706D100</cusip>
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        <balance>1066.00000000</balance>
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        <valUSD>7193.53000000</valUSD>
        <pctVal>1.284679229605</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>Dentsu Soken Inc.</name>
        <lei>N/A</lei>
        <title>DENTSU SOKEN</title>
        <cusip>J2388L101</cusip>
        <identifiers>
          <isin value="JP3551530003"/>
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        <balance>222.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="149.59800000"/>
        <valUSD>8058.90000000</valUSD>
        <pctVal>1.439224058767</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>Goldwin Inc.</name>
        <lei>N/A</lei>
        <title>GOLDWIN INC</title>
        <cusip>J17472101</cusip>
        <identifiers>
          <isin value="JP3306600002"/>
        </identifiers>
        <balance>72.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="149.59800000"/>
        <valUSD>4286.29000000</valUSD>
        <pctVal>0.765480610362</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>Kotobuki Spirits Co Ltd.</name>
        <lei>N/A</lei>
        <title>KOTOBUKI SPIRITS</title>
        <cusip>J36383107</cusip>
        <identifiers>
          <isin value="JP3299600001"/>
        </identifiers>
        <balance>776.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="149.59800000"/>
        <valUSD>10818.79000000</valUSD>
        <pctVal>1.932107713800</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>Kurita Water Industries Ltd.</name>
        <lei>52990086GS2ON69UMX34</lei>
        <title>KURITA WATER IND</title>
        <cusip>J37221116</cusip>
        <identifiers>
          <isin value="JP3270000007"/>
        </identifiers>
        <balance>216.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="149.59800000"/>
        <valUSD>8251.73000000</valUSD>
        <pctVal>1.473661212132</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>Maruwa Co Ltd</name>
        <lei>3538009BXGIG8PFXNI29</lei>
        <title>MARUWA CO LTD</title>
        <cusip>J40573107</cusip>
        <identifiers>
          <isin value="JP3879250003"/>
        </identifiers>
        <balance>48.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="149.59800000"/>
        <valUSD>13738.12000000</valUSD>
        <pctVal>2.453465463801</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>Nippon Gas Co Ltd</name>
        <lei>549300N3DC5V2XON9C60</lei>
        <title>NIPPON GAS</title>
        <cusip>J50151117</cusip>
        <identifiers>
          <isin value="JP3695600001"/>
        </identifiers>
        <balance>430.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="149.59800000"/>
        <valUSD>5923.40000000</valUSD>
        <pctVal>1.057849060008</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>NICHIAS Corporation</name>
        <lei>N/A</lei>
        <title>NICHIAS CORP</title>
        <cusip>J49205107</cusip>
        <identifiers>
          <isin value="JP3660400007"/>
        </identifiers>
        <balance>228.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="149.59800000"/>
        <valUSD>8854.26000000</valUSD>
        <pctVal>1.581265931402</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>Nissan Chemical Corp.</name>
        <lei>3538002E4L1CUGJFFU25</lei>
        <title>NISSAN CHEMICAL</title>
        <cusip>J56988108</cusip>
        <identifiers>
          <isin value="JP3670800006"/>
        </identifiers>
        <balance>137.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="149.59800000"/>
        <valUSD>4785.38000000</valUSD>
        <pctVal>0.854612171182</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>Zeon Corp.</name>
        <lei>529900UEFURDYZ4F4U10</lei>
        <title>ZEON CORP</title>
        <cusip>J9886P104</cusip>
        <identifiers>
          <isin value="JP3725400000"/>
        </identifiers>
        <balance>955.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="149.59800000"/>
        <valUSD>8972.95000000</valUSD>
        <pctVal>1.602462559172</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>Northern Institutional Funds</name>
        <lei>549300Y178DO5JBR1S04</lei>
        <title>NT-INST TRSR-PRM</title>
        <cusip>665279873</cusip>
        <identifiers>
          <isin value="US6652798736"/>
        </identifiers>
        <balance>25544.34000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25544.34000000</valUSD>
        <pctVal>4.561916476607</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rohto Pharmaceutical Co Ltd</name>
        <lei>N/A</lei>
        <title>ROHTO PHARM</title>
        <cusip>J65371106</cusip>
        <identifiers>
          <isin value="JP3982400008"/>
        </identifiers>
        <balance>414.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="149.59800000"/>
        <valUSD>8226.89000000</valUSD>
        <pctVal>1.469225082434</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>Santen Pharmaceutical Co Ltd.</name>
        <lei>529900TPT3I7C17MIM03</lei>
        <title>SANTEN PHARM</title>
        <cusip>J68467109</cusip>
        <identifiers>
          <isin value="JP3336000009"/>
        </identifiers>
        <balance>609.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="149.59800000"/>
        <valUSD>7014.02000000</valUSD>
        <pctVal>1.252620870425</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>Opap SA</name>
        <lei>213800M4NRGFJCI34834</lei>
        <title>OPAP SA</title>
        <cusip>X3232T104</cusip>
        <identifiers>
          <isin value="GRS419003009"/>
        </identifiers>
        <balance>676.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.94660000"/>
        <valUSD>11087.06000000</valUSD>
        <pctVal>1.980017557358</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nexans SA</name>
        <lei>96950015FU78G84UIV14</lei>
        <title>NEXANS SA</title>
        <cusip>F65277109</cusip>
        <identifiers>
          <isin value="FR0000044448"/>
        </identifiers>
        <balance>46.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.94660000"/>
        <valUSD>5218.78000000</valUSD>
        <pctVal>0.932012276292</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>Universal Display Corp.</name>
        <lei>N/A</lei>
        <title>UNIVERSAL DISPLA</title>
        <cusip>91347P105</cusip>
        <identifiers>
          <isin value="US91347P1057"/>
        </identifiers>
        <balance>21.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3454.92000000</valUSD>
        <pctVal>0.617007778371</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>Cosmos Pharmaceutical Corp.</name>
        <lei>N/A</lei>
        <title>COSMOS PHARM</title>
        <cusip>J08959108</cusip>
        <identifiers>
          <isin value="JP3298400007"/>
        </identifiers>
        <balance>118.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="149.59800000"/>
        <valUSD>5826.88000000</valUSD>
        <pctVal>1.040611731570</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>Internet Initiative Japan Inc.</name>
        <lei>529900EOCJNAPUHDFR78</lei>
        <title>INTERNET INITIAT</title>
        <cusip>J24210106</cusip>
        <identifiers>
          <isin value="JP3152820001"/>
        </identifiers>
        <balance>515.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="149.59800000"/>
        <valUSD>10396.37000000</valUSD>
        <pctVal>1.856668506600</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>Sydbank AS</name>
        <lei>GP5DT10VX1QRQUKVBK64</lei>
        <title>SYDBANK</title>
        <cusip>K9419V113</cusip>
        <identifiers>
          <isin value="DK0010311471"/>
        </identifiers>
        <balance>107.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="7.05728000"/>
        <valUSD>5320.56000000</valUSD>
        <pctVal>0.950188978410</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>Recordati Industria Chimica e Farmaceutica S.p.A.</name>
        <lei>815600FBF92FD3531704</lei>
        <title>Recordati SpA</title>
        <cusip>T78458139</cusip>
        <identifiers>
          <isin value="IT0003828271"/>
        </identifiers>
        <balance>193.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.94660000"/>
        <valUSD>10513.54000000</valUSD>
        <pctVal>1.877593680379</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>JCU Corp.</name>
        <lei>N/A</lei>
        <title>JCU CORP</title>
        <cusip>J2810V107</cusip>
        <identifiers>
          <isin value="JP3166200000"/>
        </identifiers>
        <balance>355.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="149.59800000"/>
        <valUSD>9640.60000000</valUSD>
        <pctVal>1.721696938906</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>Nomura Real Estate Holdings Inc.</name>
        <lei>353800UZ91CT24OL9P59</lei>
        <title>Nomura Real Estate Holdin</title>
        <cusip>J5893B104</cusip>
        <identifiers>
          <isin value="JP3762900003"/>
        </identifiers>
        <balance>271.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="149.59800000"/>
        <valUSD>6737.62000000</valUSD>
        <pctVal>1.203259105191</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>Montea NV</name>
        <lei>5493006K5LQDD0GK1T60</lei>
        <title>MONTEA NV</title>
        <cusip>B6214F103</cusip>
        <identifiers>
          <isin value="BE0003853703"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.94660000"/>
        <valUSD>7054.85000000</valUSD>
        <pctVal>1.259912624675</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>Interrent Real Estate Investment Trust</name>
        <lei>N/A</lei>
        <title>INTERRENT REAL E</title>
        <cusip>46071W205</cusip>
        <identifiers>
          <isin value="CA46071W2058"/>
        </identifiers>
        <balance>831.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.39989000"/>
        <valUSD>6464.50000000</valUSD>
        <pctVal>1.154483109096</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>Safestore Holdings PLC</name>
        <lei>213800WGA3YSJC1YOH73</lei>
        <title>SAFESTORE HOLDIN</title>
        <cusip>G77733106</cusip>
        <identifiers>
          <isin value="GB00B1N7Z094"/>
        </identifiers>
        <balance>752.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.78590000"/>
        <valUSD>7125.75000000</valUSD>
        <pctVal>1.272574524657</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>Hilton Food Group PLC</name>
        <lei>213800JY7VJFS2OOX355</lei>
        <title>HILTON FOOD GROU</title>
        <cusip>G4586W106</cusip>
        <identifiers>
          <isin value="GB00B1V9NW54"/>
        </identifiers>
        <balance>745.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.78590000"/>
        <valUSD>8586.61000000</valUSD>
        <pctVal>1.533466812499</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>SMS Co Ltd.</name>
        <lei>N/A</lei>
        <title>SMS Co Ltd</title>
        <cusip>J7568Q101</cusip>
        <identifiers>
          <isin value="JP3162350007"/>
        </identifiers>
        <balance>558.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="149.59800000"/>
        <valUSD>6230.69000000</valUSD>
        <pctVal>1.112727413259</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>Monogatari Corp. (The)</name>
        <lei>N/A</lei>
        <title>MONOGATARI CORP</title>
        <cusip>J46586103</cusip>
        <identifiers>
          <isin value="JP3922930007"/>
        </identifiers>
        <balance>311.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="149.59800000"/>
        <valUSD>7517.89000000</valUSD>
        <pctVal>1.342606082612</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>Tourmaline Oil Corp.</name>
        <lei>894500QKSAGWVM0ZG560</lei>
        <title>TOURMALINE OIL C</title>
        <cusip>89156V106</cusip>
        <identifiers>
          <isin value="CA89156V1067"/>
        </identifiers>
        <balance>138.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.39989000"/>
        <valUSD>6514.11000000</valUSD>
        <pctVal>1.163342867321</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>Chemring Group PLC</name>
        <lei>213800U9A54VQJ5P2J41</lei>
        <title>CHEMRING GROUP</title>
        <cusip>G20860139</cusip>
        <identifiers>
          <isin value="GB00B45C9X44"/>
        </identifiers>
        <balance>1235.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.78590000"/>
        <valUSD>5572.88000000</valUSD>
        <pctVal>0.995250340942</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>Coats Group PLC</name>
        <lei>2138003SPYWGAITNFY17</lei>
        <title>Coats Group PLC</title>
        <cusip>G22429115</cusip>
        <identifiers>
          <isin value="GB00B4YZN328"/>
        </identifiers>
        <balance>7818.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.78590000"/>
        <valUSD>9586.30000000</valUSD>
        <pctVal>1.711999602248</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>Borregaard ASA</name>
        <lei>5967007LIEEXZXGYXC05</lei>
        <title>BORREGAARD ASA</title>
        <cusip>R1R79W105</cusip>
        <identifiers>
          <isin value="NO0010657505"/>
        </identifiers>
        <balance>423.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="11.04102000"/>
        <valUSD>7030.67000000</valUSD>
        <pctVal>1.255594363157</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TMX Group Ltd.</name>
        <lei>549300N65GFVKSHGJW59</lei>
        <title>TMX GROUP LTD</title>
        <cusip>87262K105</cusip>
        <identifiers>
          <isin value="CA87262K1057"/>
        </identifiers>
        <balance>366.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.39989000"/>
        <valUSD>11574.35000000</valUSD>
        <pctVal>2.067041777983</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>Sagax AB</name>
        <lei>549300LJX28T6OM8DT95</lei>
        <title>SAGAX AB-B</title>
        <cusip>W7519A200</cusip>
        <identifiers>
          <isin value="SE0005127818"/>
        </identifiers>
        <balance>232.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="10.89762000"/>
        <valUSD>5141.16000000</valUSD>
        <pctVal>0.918150263928</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>Kion Group AG</name>
        <lei>5299005KY91C4C6U9H17</lei>
        <title>KION GROUP AG</title>
        <cusip>D4S14D103</cusip>
        <identifiers>
          <isin value="DE000KGX8881"/>
        </identifiers>
        <balance>198.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.94660000"/>
        <valUSD>7092.50000000</valUSD>
        <pctVal>1.266636468600</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>Steadfast Group Ltd.</name>
        <lei>N/A</lei>
        <title>STEADFAST GROUP</title>
        <cusip>Q8744R106</cusip>
        <identifiers>
          <isin value="AU000000SDF8"/>
        </identifiers>
        <balance>2690.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.53340000"/>
        <valUSD>10214.45000000</valUSD>
        <pctVal>1.824179749975</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>Strike Co Ltd.</name>
        <lei>N/A</lei>
        <title>STRIKE CO LTD</title>
        <cusip>J7674S108</cusip>
        <identifiers>
          <isin value="JP3399780000"/>
        </identifiers>
        <balance>272.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="149.59800000"/>
        <valUSD>7003.66000000</valUSD>
        <pctVal>1.250770697170</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>Croda International PLC</name>
        <lei>2138004WCNBFJEEOXV26</lei>
        <title>CRODA INTL.</title>
        <cusip>G25536155</cusip>
        <identifiers>
          <isin value="GB00BJFFLV09"/>
        </identifiers>
        <balance>74.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.78590000"/>
        <valUSD>3249.65000000</valUSD>
        <pctVal>0.580348988394</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>FirstService Corp.</name>
        <lei>5493000XUDIV75BCF118</lei>
        <title>FIRSTSERVICE-WI</title>
        <cusip>33767E202</cusip>
        <identifiers>
          <isin value="CA33767E2024"/>
        </identifiers>
        <balance>42.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.39989000"/>
        <valUSD>8194.24000000</valUSD>
        <pctVal>1.463394179269</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>Gaztransport Et Technigaz SA</name>
        <lei>969500BVOHVZUUFWDT54</lei>
        <title>GAZTRANSPORT ET TECHNIGA</title>
        <cusip>F42674113</cusip>
        <identifiers>
          <isin value="FR0011726835"/>
        </identifiers>
        <balance>50.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.94660000"/>
        <valUSD>7277.92000000</valUSD>
        <pctVal>1.299750283758</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>Treatt PLC</name>
        <lei>213800G4OJM9F7G9LG39</lei>
        <title>TREATT PLC</title>
        <cusip>G9026D113</cusip>
        <identifiers>
          <isin value="GB00BKS7YK08"/>
        </identifiers>
        <balance>1048.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.78590000"/>
        <valUSD>5348.17000000</valUSD>
        <pctVal>0.955119797289</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>Brookfield Infrastructure Corporation</name>
        <lei>N/A</lei>
        <title>BROOKFIELD INF-A</title>
        <cusip>11275Q107</cusip>
        <identifiers>
          <isin value="CA11275Q1072"/>
        </identifiers>
        <balance>206.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.39989000"/>
        <valUSD>9244.24000000</valUSD>
        <pctVal>1.650911738949</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>Breedon Group PLC</name>
        <lei>213800DQGNQE3X76WS92</lei>
        <title>BREEDON GROUP PL</title>
        <cusip>G131AN104</cusip>
        <identifiers>
          <isin value="GB00BM8NFJ84"/>
        </identifiers>
        <balance>1417.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.78590000"/>
        <valUSD>8320.30000000</valUSD>
        <pctVal>1.485907001719</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>JD Sports Fashion PLC</name>
        <lei>213800HROV6Y9MUU8375</lei>
        <title>JD SPORTS FASHIO</title>
        <cusip>G5144Y120</cusip>
        <identifiers>
          <isin value="GB00BM8Q5M07"/>
        </identifiers>
        <balance>3821.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.78590000"/>
        <valUSD>4960.99000000</valUSD>
        <pctVal>0.885974036568</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>VZ Holdings</name>
        <lei>529900JMJUZCFUVQ0Q82</lei>
        <title>VZ HOLDING AG</title>
        <cusip>H9239A111</cusip>
        <identifiers>
          <isin value="CH0528751586"/>
        </identifiers>
        <balance>59.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.88102000"/>
        <valUSD>9766.29000000</valUSD>
        <pctVal>1.744143683740</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>Bytes Technology Group PLC</name>
        <lei>213800LA4DZLFBAC9O33</lei>
        <title>BYTES TECHNOLOGY</title>
        <cusip>G1824W104</cusip>
        <identifiers>
          <isin value="GB00BMH18Q19"/>
        </identifiers>
        <balance>876.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.78590000"/>
        <valUSD>5055.07000000</valUSD>
        <pctVal>0.902775609916</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>Plus Alpha Consulting Co Ltd.</name>
        <lei>N/A</lei>
        <title>PLUS ALPHA CONSU</title>
        <cusip>J63934103</cusip>
        <identifiers>
          <isin value="JP3832700003"/>
        </identifiers>
        <balance>582.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="149.59800000"/>
        <valUSD>6413.01000000</valUSD>
        <pctVal>1.145287605146</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>Hensoldt AG</name>
        <lei>894500686FYLLZD3M624</lei>
        <title>HENSOLDT AG</title>
        <cusip>D3R14P109</cusip>
        <identifiers>
          <isin value="DE000HAG0005"/>
        </identifiers>
        <balance>226.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.94660000"/>
        <valUSD>8816.03000000</valUSD>
        <pctVal>1.574438506348</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>Prairiesky Royalty Ltd.</name>
        <lei>529900AXG582AP7CV733</lei>
        <title>PRAIRIESKY ROYAL</title>
        <cusip>739721108</cusip>
        <identifiers>
          <isin value="CA7397211086"/>
        </identifiers>
        <balance>411.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.39989000"/>
        <valUSD>8728.56000000</valUSD>
        <pctVal>1.558817400686</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>Euronext N.V.</name>
        <lei>724500QJ4QSZ3H9QU415</lei>
        <title>EURONEXT NV</title>
        <cusip>N3113K397</cusip>
        <identifiers>
          <isin value="NL0006294274"/>
        </identifiers>
        <balance>90.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.94660000"/>
        <valUSD>10038.73000000</valUSD>
        <pctVal>1.792798239892</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Technip Energies N V</name>
        <lei>724500FLODI49NSCIP70</lei>
        <title>TECHNIP ENERGIES</title>
        <cusip>N8486R101</cusip>
        <identifiers>
          <isin value="NL0014559478"/>
        </identifiers>
        <balance>346.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.94660000"/>
        <valUSD>8512.14000000</valUSD>
        <pctVal>1.520167352814</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>Ventia Services Group Ltd.</name>
        <lei>N/A</lei>
        <title>VENTIA SERVICES</title>
        <cusip>Q9394Q109</cusip>
        <identifiers>
          <isin value="AU0000184459"/>
        </identifiers>
        <balance>3603.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.53340000"/>
        <valUSD>10724.45000000</valUSD>
        <pctVal>1.915259707534</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Granite Real Estate Investment Trust</name>
        <lei>549300U7HUKRB4S4KZ73</lei>
        <title>GRANITE REAL EST</title>
        <cusip>387437205</cusip>
        <identifiers>
          <isin value="CA3874372053"/>
        </identifiers>
        <balance>129.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.39989000"/>
        <valUSD>7003.41000000</valUSD>
        <pctVal>1.250726050132</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>Vidrala SA</name>
        <lei>95980020140005399488</lei>
        <title>VIDRALA SA - RTS</title>
        <cusip>E96883298</cusip>
        <identifiers>
          <isin value="ES06837469C0"/>
        </identifiers>
        <balance>71.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.94660000"/>
        <valUSD>352.16000000</valUSD>
        <pctVal>0.062891603635</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Warpaint London Plc</name>
        <lei>213800EBJ2CN6KIDCO78</lei>
        <title>WARPAINT LONDON</title>
        <cusip>G94524108</cusip>
        <identifiers>
          <isin value="GB00BYMF3676"/>
        </identifiers>
        <balance>1205.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.78590000"/>
        <valUSD>8523.02000000</valUSD>
        <pctVal>1.522110391908</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>Scout24 SE</name>
        <lei>5493007EIKM2ENQS7U66</lei>
        <title>SCOUT24 SE</title>
        <cusip>D345XT105</cusip>
        <identifiers>
          <isin value="DE000A12DM80"/>
        </identifiers>
        <balance>126.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.94660000"/>
        <valUSD>11357.46000000</valUSD>
        <pctVal>2.028307793679</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Returns are reported without deducting sales loads and redemption fees, if any." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2024-12-27</ncom:dateSigned>
      <ncom:nameOfApplicant>Copeland Trust</ncom:nameOfApplicant>
      <ncom:signature>James Colantino</ncom:signature>
      <ncom:signerName>James Colantino</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
