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        <valUSD>757526.85000000</valUSD>
        <pctVal>1.883602333066</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>MUELLER INDUSTRIES INC</name>
        <lei>5493005IZFE4VJLLYG84</lei>
        <title>MUELLER INDS</title>
        <cusip>624756102</cusip>
        <identifiers>
          <isin value="US6247561029"/>
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        <balance>5373.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>690967.80000000</valUSD>
        <pctVal>1.718102216645</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>NRG ENERGY INC</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG ENERGY</title>
        <cusip>629377508</cusip>
        <identifiers>
          <isin value="US6293775085"/>
        </identifiers>
        <balance>5217.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>699495.36000000</valUSD>
        <pctVal>1.739306127650</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>FUJIKURA LTD</name>
        <lei>353800PSDZ8VRCKVPL51</lei>
        <title>FUJIKURA LTD</title>
        <cusip>J14784128</cusip>
        <identifiers>
          <isin value="JP3811000003"/>
        </identifiers>
        <balance>18000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.19000000"/>
        <valUSD>539468.56000000</valUSD>
        <pctVal>1.341396992373</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>NETFLIX INC</name>
        <lei>549300Y7VHGU0I7CE873</lei>
        <title>NETFLIX INC</title>
        <cusip>64110L106</cusip>
        <identifiers>
          <isin value="US64110L1061"/>
        </identifiers>
        <balance>8382.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>721019.64000000</valUSD>
        <pctVal>1.792826585738</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>SK HYNIX INC</name>
        <lei>988400XAIK6XISWQV045</lei>
        <title>SK HYNIX INC</title>
        <cusip>Y8085F100</cusip>
        <identifiers>
          <isin value="KR7000660001"/>
        </identifiers>
        <balance>658.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1507.00000000"/>
        <valUSD>1018655.61000000</valUSD>
        <pctVal>2.532903069491</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KANDENKO CO LTD</name>
        <lei>35380080NSN7GCYZ3X14</lei>
        <title>KANDENKO CO LTD</title>
        <cusip>J29653102</cusip>
        <identifiers>
          <isin value="JP3230600003"/>
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        <balance>16600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.19000000"/>
        <valUSD>681768.96000000</valUSD>
        <pctVal>1.695229157445</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>JB HI-FI LTD</name>
        <lei>529900TPC8H040Y3ZQ65</lei>
        <title>JB HI-FI LTD</title>
        <cusip>Q5029L101</cusip>
        <identifiers>
          <isin value="AU000000JBH7"/>
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        <balance>13765.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.38985000"/>
        <valUSD>737744.97000000</valUSD>
        <pctVal>1.834414379767</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NVIDIA CORP</name>
        <lei>549300S4KLFTLO7GSQ80</lei>
        <title>NVIDIA CORP</title>
        <cusip>67066G104</cusip>
        <identifiers>
          <isin value="US67066G1040"/>
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        <balance>3496.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>738145.44000000</valUSD>
        <pctVal>1.835410154671</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>CODAN LTD</name>
        <lei>9845005866EB809B5694</lei>
        <title>CODAN LTD</title>
        <cusip>Q2595M100</cusip>
        <identifiers>
          <isin value="AU000000CDA3"/>
        </identifiers>
        <balance>25053.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.38985000"/>
        <valUSD>768795.52000000</valUSD>
        <pctVal>1.911622056858</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RYOHIN KEIKAKU COMPANY LTD</name>
        <lei>549300PMNF56J66BY371</lei>
        <title>RYOHIN KEIKAKU</title>
        <cusip>J6571N105</cusip>
        <identifiers>
          <isin value="JP3976300008"/>
        </identifiers>
        <balance>31900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.19000000"/>
        <valUSD>778112.32000000</valUSD>
        <pctVal>1.934788425439</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>SAM YANG FOODS COMPANY LTD</name>
        <lei>N/A</lei>
        <title>SAMYANG FOODS CO</title>
        <cusip>Y7498J105</cusip>
        <identifiers>
          <isin value="KR7003230000"/>
        </identifiers>
        <balance>843.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1507.00000000"/>
        <valUSD>674064.37000000</valUSD>
        <pctVal>1.676071574187</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TAKASAGO THERMAL ENGINEERING CO LTD</name>
        <lei>353800VL9UEB0RUJLC67</lei>
        <title>TAKASAGO THERMAL</title>
        <cusip>J81023111</cusip>
        <identifiers>
          <isin value="JP3455200000"/>
        </identifiers>
        <balance>24500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.19000000"/>
        <valUSD>727812.68000000</valUSD>
        <pctVal>1.809717585697</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>PARKER-HANNIFIN CORP</name>
        <lei>5493002CONDB4N2HKI23</lei>
        <title>PARKER HANNIFIN</title>
        <cusip>701094104</cusip>
        <identifiers>
          <isin value="US7010941042"/>
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        <balance>832.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>702732.16000000</valUSD>
        <pctVal>1.747354481358</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>HOLCIM AG</name>
        <lei>529900EHPFPYHV6IQO98</lei>
        <title>HOLCIM LTD</title>
        <cusip>H3816Q102</cusip>
        <identifiers>
          <isin value="CH0012214059"/>
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        <balance>7787.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.78135000"/>
        <valUSD>771574.25000000</valUSD>
        <pctVal>1.918531412363</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPROUTS FARMERS MARKET INC</name>
        <lei>529900P8F4G77Q52XE24</lei>
        <title>SPROUTS FARMERS</title>
        <cusip>85208M102</cusip>
        <identifiers>
          <isin value="US85208M1027"/>
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        <balance>9132.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>754485.84000000</valUSD>
        <pctVal>1.876040814248</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>STERLING INFRASTRUCTURE INC</name>
        <lei>549300RZIK6K1215XU51</lei>
        <title>STERLING INFRAST</title>
        <cusip>859241101</cusip>
        <identifiers>
          <isin value="US8592411016"/>
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        <balance>913.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>785946.92000000</valUSD>
        <pctVal>1.954269280591</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>
      <invstOrSec>
        <name>UNITED STATES LIME &amp; MINERALS INC</name>
        <lei>549300VGDEEG8RT7VC89</lei>
        <title>US LIME &amp; MINERA</title>
        <cusip>911922102</cusip>
        <identifiers>
          <isin value="US9119221029"/>
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        <balance>6769.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>771598.31000000</valUSD>
        <pctVal>1.918591237929</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>VERTIV HOLDINGS COMPANY</name>
        <lei>549300KTTIRAOGXCRV69</lei>
        <title>VERTIV HOLDING-A</title>
        <cusip>92537N108</cusip>
        <identifiers>
          <isin value="US92537N1081"/>
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        <balance>2174.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>686353.54000000</valUSD>
        <pctVal>1.706628787154</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>
      <invstOrSec>
        <name>KONECRANES OYJ</name>
        <lei>549300EF0CDEQZBMA096</lei>
        <title>KONECRANES OYJ</title>
        <cusip>X4550J108</cusip>
        <identifiers>
          <isin value="FI0009005870"/>
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        <balance>22957.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85693000"/>
        <valUSD>759223.48000000</valUSD>
        <pctVal>1.887821030035</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PROTECTOR FORSIKRING ASA</name>
        <lei>5967007LIEEXZXAIO813</lei>
        <title>PROTECTOR FORSIK</title>
        <cusip>R7049B138</cusip>
        <identifiers>
          <isin value="NO0010209331"/>
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        <balance>14559.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.23520000"/>
        <valUSD>720130.72000000</valUSD>
        <pctVal>1.790616272287</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>3I GROUP PLC</name>
        <lei>35GDVHRBMFE7NWATNM84</lei>
        <title>3I GROUP PLC</title>
        <cusip>G88473148</cusip>
        <identifiers>
          <isin value="GB00B1YW4409"/>
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        <balance>20828.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74187000"/>
        <valUSD>638706.24000000</valUSD>
        <pctVal>1.588153032209</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>BENEFIT SYSTEMS SA</name>
        <lei>2594007UY43JEUOLID52</lei>
        <title>BENEFIT</title>
        <cusip>X071AA119</cusip>
        <identifiers>
          <isin value="PLBNFTS00018"/>
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        <balance>647.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="PLN" exchangeRt="3.62180000"/>
        <valUSD>787804.41000000</valUSD>
        <pctVal>1.958887958460</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ROLLS-ROYCE HOLDINGS PLC</name>
        <lei>213800EC7997ZBLZJH69</lei>
        <title>ROLLS-ROYCE HOLD</title>
        <cusip>G76225104</cusip>
        <identifiers>
          <isin value="GB00B63H8491"/>
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        <balance>43327.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74187000"/>
        <valUSD>781073.91000000</valUSD>
        <pctVal>1.942152465187</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>UNIPOL ASSICURAZIONI SPA</name>
        <lei>8156005CE5E7340CCA86</lei>
        <title>UNIPOL GRUPPO SPA</title>
        <cusip>T9532W106</cusip>
        <identifiers>
          <isin value="IT0004810054"/>
        </identifiers>
        <balance>28310.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85693000"/>
        <valUSD>701696.05000000</valUSD>
        <pctVal>1.744778177675</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TALANX AG</name>
        <lei>5299006ZIILJ6VJVSJ32</lei>
        <title>TALANX AG</title>
        <cusip>D82827110</cusip>
        <identifiers>
          <isin value="DE000TLX1005"/>
        </identifiers>
        <balance>5747.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85693000"/>
        <valUSD>690769.37000000</valUSD>
        <pctVal>1.717608817354</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>BBH SWEEP VEHICLE</name>
        <lei>N/A</lei>
        <title>BBH SWEEP VEHICLE</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="BBHETFMM"/>
        </identifiers>
        <balance>259768.30000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>259768.30000000</valUSD>
        <pctVal>0.645917931406</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Money Market Sweep Account" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PLUS500 LTD</name>
        <lei>549300X8NGW9C5OJZU13</lei>
        <title>Plus500 Ltd</title>
        <cusip>M7S2CK109</cusip>
        <identifiers>
          <isin value="IL0011284465"/>
        </identifiers>
        <balance>12101.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74187000"/>
        <valUSD>722924.93000000</valUSD>
        <pctVal>1.797564119053</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HD HYUNDAI ELECTRIC CO LTD</name>
        <lei>988400CSDKM9UHLHGB91</lei>
        <title>HD HYUNDAI ELECT</title>
        <cusip>Y3R1DD103</cusip>
        <identifiers>
          <isin value="KR7267260008"/>
        </identifiers>
        <balance>768.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1507.00000000"/>
        <valUSD>536631.72000000</valUSD>
        <pctVal>1.334343145446</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SK SQUARE CO LTD</name>
        <lei>N/A</lei>
        <title>SK SQUARE CO LTD</title>
        <cusip>Y8T6X4107</cusip>
        <identifiers>
          <isin value="KR7402340004"/>
        </identifiers>
        <balance>986.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1507.00000000"/>
        <valUSD>806727.27000000</valUSD>
        <pctVal>2.005939945125</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CELESTICA INC</name>
        <lei>549300J3CG5T6RZWLN53</lei>
        <title>CELESTICA INC</title>
        <cusip>15101Q207</cusip>
        <identifiers>
          <isin value="CA15101Q2071"/>
        </identifiers>
        <balance>1916.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.37755000"/>
        <valUSD>741350.34000000</valUSD>
        <pctVal>1.843379188531</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>UNICREDIT SPA</name>
        <lei>549300TRUWO2CD2G5692</lei>
        <title>UNICREDIT SPA</title>
        <cusip>T9T23L642</cusip>
        <identifiers>
          <isin value="IT0005239360"/>
        </identifiers>
        <balance>8829.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85693000"/>
        <valUSD>764899.07000000</valUSD>
        <pctVal>1.901933473133</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TECHNIPFMC PLC</name>
        <lei>549300D5I93QWCJTCK36</lei>
        <title>TECHNIPFMC PLC</title>
        <cusip>G87110105</cusip>
        <identifiers>
          <isin value="GB00BDSFG982"/>
        </identifiers>
        <balance>10413.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>712457.46000000</valUSD>
        <pctVal>1.771536591563</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>TRANE TECHNOLOGIES PLC</name>
        <lei>549300BURLR9SLYY2705</lei>
        <title>TRANE TECHNOLOGI</title>
        <cusip>G8994E103</cusip>
        <identifiers>
          <isin value="IE00BK9ZQ967"/>
        </identifiers>
        <balance>1573.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>709894.90000000</valUSD>
        <pctVal>1.765164746136</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPOTIFY TECHNOLOGY SA</name>
        <lei>549300B4X0JHWV0DTD60</lei>
        <title>SPOTIFY TECHNOLO</title>
        <cusip>L8681T102</cusip>
        <identifiers>
          <isin value="LU1778762911"/>
        </identifiers>
        <balance>1729.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>860488.72000000</valUSD>
        <pctVal>2.139618629450</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ROYAL CARIBBEAN CRUISES LTD</name>
        <lei>K2NEH8QNVW44JIWK7Z55</lei>
        <title>ROYAL CARIBBEAN</title>
        <cusip>V7780T103</cusip>
        <identifiers>
          <isin value="LR0008862868"/>
        </identifiers>
        <balance>2627.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>747723.01000000</valUSD>
        <pctVal>1.859224931925</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</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>2026-06-26</ncom:dateSigned>
      <ncom:nameOfApplicant>Exchange Listed Funds Trust</ncom:nameOfApplicant>
      <ncom:signature>Chris Roleke</ncom:signature>
      <ncom:signerName>Chris Roleke</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
