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      <regStreet1>225 Pictoria Drive</regStreet1>
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      <regCity>Cincinnati</regCity>
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      <repPdEnd>2025-08-31</repPdEnd>
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        <name>Singapore Telecommunications Ltd.</name>
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      <invstOrSec>
        <name>Lennar Corp.</name>
        <lei>529900G61XVRLX5TJX09</lei>
        <title>Lennar Corporation Class A</title>
        <cusip>526057104</cusip>
        <identifiers>
          <isin value="US5260571048"/>
        </identifiers>
        <balance>9900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1726461.00000000</valUSD>
        <pctVal>2.269114884848</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>National Bank of Canada</name>
        <lei>BSGEFEIOM18Y80CKCV46</lei>
        <title>National Bank of Canada </title>
        <cusip>633067103</cusip>
        <identifiers>
          <isin value="CA6330671034"/>
        </identifiers>
        <balance>23000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.39989000"/>
        <valUSD>2278986.21000000</valUSD>
        <pctVal>2.995307470875</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>Unilever PLC</name>
        <lei>549300MKFYEKVRWML317</lei>
        <title>Unilever plc Sponsored ADR</title>
        <cusip>904767704</cusip>
        <identifiers>
          <isin value="US9047677045"/>
        </identifiers>
        <balance>26200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1567808.00000000</valUSD>
        <pctVal>2.060594748091</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Walmart Inc</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>Walmart, Inc. </title>
        <cusip>931142103</cusip>
        <identifiers>
          <isin value="US9311421039"/>
        </identifiers>
        <balance>35550.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3288375.00000000</valUSD>
        <pctVal>4.321963055906</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>Allianz SE</name>
        <lei>529900K9B0N5BT694847</lei>
        <title>Allianz SE </title>
        <cusip>D03080112</cusip>
        <identifiers>
          <isin value="DE0008404005"/>
        </identifiers>
        <balance>4200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.94660000"/>
        <valUSD>1299756.06000000</valUSD>
        <pctVal>1.708289861408</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>QUALCOMM Inc.</name>
        <lei>H1J8DDZKZP6H7RWC0H53</lei>
        <title>QUALCOMM, Inc. </title>
        <cusip>747525103</cusip>
        <identifiers>
          <isin value="US7475251036"/>
        </identifiers>
        <balance>10384.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1646175.52000000</valUSD>
        <pctVal>2.163594413951</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>Microsoft Corp.</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>Microsoft Corporation </title>
        <cusip>594918104</cusip>
        <identifiers>
          <isin value="US5949181045"/>
        </identifiers>
        <balance>5420.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2295153.20000000</valUSD>
        <pctVal>3.016556000469</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>Coca-Cola Europacific Partners PLC</name>
        <lei>549300LTH67W4GWMRF57</lei>
        <title>Coca-Cola Europacific Partners plc </title>
        <cusip>G25839104</cusip>
        <identifiers>
          <isin value="GB00BDCPN049"/>
        </identifiers>
        <balance>28730.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2228873.40000000</valUSD>
        <pctVal>2.929443415392</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>Targa Resources Corp.</name>
        <lei>5493003QENHHS261UR94</lei>
        <title>Targa Resources Corp. </title>
        <cusip>87612G101</cusip>
        <identifiers>
          <isin value="US87612G1013"/>
        </identifiers>
        <balance>16560.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3383208.00000000</valUSD>
        <pctVal>4.446603561469</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>Dick's Sporting Goods, Inc.</name>
        <lei>529900SSBV5I4LWSK313</lei>
        <title>Dick's Sporting Goods, Inc. </title>
        <cusip>253393102</cusip>
        <identifiers>
          <isin value="US2533931026"/>
        </identifiers>
        <balance>8000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1657920.00000000</valUSD>
        <pctVal>2.179030368996</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>Thales SA</name>
        <lei>529900FNDVTQJOVVPZ19</lei>
        <title>Thales SA </title>
        <cusip>F9156M108</cusip>
        <identifiers>
          <isin value="FR0000121329"/>
        </identifiers>
        <balance>13600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.94660000"/>
        <valUSD>2034440.26000000</valUSD>
        <pctVal>2.673896877080</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>Novo Nordisk A/S</name>
        <lei>549300DAQ1CVT6CXN342</lei>
        <title>Novo Nordisk A/S ADR</title>
        <cusip>670100205</cusip>
        <identifiers>
          <isin value="US6701002056"/>
        </identifiers>
        <balance>3970.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>423996.00000000</valUSD>
        <pctVal>0.557264620930</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Coca-Cola Company</name>
        <lei>UWJKFUJFZ02DKWI3RY53</lei>
        <title>Coca-Cola Company (The) </title>
        <cusip>191216100</cusip>
        <identifiers>
          <isin value="US1912161007"/>
        </identifiers>
        <balance>37635.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2411650.80000000</valUSD>
        <pctVal>3.169670631040</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>Allianz SE</name>
        <lei>529900K9B0N5BT694847</lei>
        <title>Allianz SE Unsponsored ADR</title>
        <cusip>018820100</cusip>
        <identifiers>
          <isin value="US0188201000"/>
        </identifiers>
        <balance>26000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>803140.00000000</valUSD>
        <pctVal>1.055579551821</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mitsubishi UFJ Financial Group Inc.</name>
        <lei>353800V2V8PUY9TK3E06</lei>
        <title>Mitsubishi UFJ Financial Group, Inc. ADR</title>
        <cusip>606822104</cusip>
        <identifiers>
          <isin value="US6068221042"/>
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        <balance>177000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2108070.00000000</valUSD>
        <pctVal>2.770669604064</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Taiwan Semiconductor Manufacturing Co., Ltd.</name>
        <lei>549300KB6NK5SBD14S87</lei>
        <title>Taiwan Semiconductor Manufacturing Company Ltd. ADR</title>
        <cusip>874039100</cusip>
        <identifiers>
          <isin value="US8740391003"/>
        </identifiers>
        <balance>9000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1661940.00000000</valUSD>
        <pctVal>2.184313918313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP Paribas </title>
        <cusip>F1058Q238</cusip>
        <identifiers>
          <isin value="FR0000131104"/>
        </identifiers>
        <balance>25600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.94660000"/>
        <valUSD>1529770.81000000</valUSD>
        <pctVal>2.010601870171</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>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley </title>
        <cusip>617446448</cusip>
        <identifiers>
          <isin value="US6174464486"/>
        </identifiers>
        <balance>21900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2882259.00000000</valUSD>
        <pctVal>3.788198400594</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>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2024-12-20</ncom:dateSigned>
      <ncom:nameOfApplicant>Blue Current Global Dividend Fund</ncom:nameOfApplicant>
      <ncom:signature>Daniel D. Bauer</ncom:signature>
      <ncom:signerName>Daniel D. Bauer</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
