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    <filerInfo>

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          <cik>0001616668</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
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        <classId>C000235290</classId>
      </seriesClassInfo>


    </filerInfo>
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      <regFileNumber>811-23024</regFileNumber>
      <regCik>0001616668</regCik>
      <regLei>549300L3D3N0PW0L9M73</regLei>
      <regStreet1>500 Chesterfield Parkway</regStreet1>
      <regCity>Malvern</regCity>
      <regStateConditional regCountry="US" regState="US-PA"/>
      <regZipOrPostalCode>19355</regZipOrPostalCode>
      <regPhone>610-664-8100</regPhone>
      <seriesName>Pacer Industrials and Logistics ETF</seriesName>
      <seriesId>S000075917</seriesId>
      <seriesLei>5493007FUHAK57BILB80</seriesLei>
      <repPdEnd>2026-04-30</repPdEnd>
      <repPdDate>2025-07-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
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      <totLiabs>65293.600000000000</totLiabs>
      <netAssets>556425.540000000000</netAssets>
      <assetsAttrMiscSec>0.000000000000</assetsAttrMiscSec>
      <assetsInvested>0.000000000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.000000000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.000000000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.000000000000</amtPayOneYrOthAffil>
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      <amtPayAftOneYrBanksBorr>0.000000000000</amtPayAftOneYrBanksBorr>
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      <delayDeliv>0.000000000000</delayDeliv>
      <standByCommit>0.000000000000</standByCommit>
      <liquidPref>0.000000000000</liquidPref>
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      <borrowers>
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        <name>Pacific Basin Shipping Ltd</name>
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        <name>Qube Holdings Ltd</name>
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      <invstOrSec>
        <name>Pan Ocean Co Ltd</name>
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        <securityLending>
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      <invstOrSec>
        <name>Rumo SA</name>
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          <isin value="BRRAILACNOR9"/>
          <ticker value="RAIL3"/>
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        <currencyConditional curCd="BRL" exchangeRt="5.598550000000"/>
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        <invCountry>BR</invCountry>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FedEx Corp</name>
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          <ticker value="FDX"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ArcBest Corp</name>
        <lei>5493006S3KBNE8ZS3J23</lei>
        <title>ArcBest Corp</title>
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          <isin value="US03937C1053"/>
          <ticker value="ARCB"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <name>CH Robinson Worldwide Inc</name>
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        <title>CH Robinson Worldwide Inc</title>
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        <name>Canadian National Railway Co</name>
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        <invCountry>DK</invCountry>
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        <name>ABB Ltd</name>
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        <invCountry>CH</invCountry>
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        <name>Brambles Ltd</name>
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        <name>Canadian Pacific Kansas City L</name>
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        <name>Full Truck Alliance Co Ltd</name>
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        <name>HMM Co Ltd</name>
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        <name>ICTSI</name>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kamigumi Co Ltd</name>
        <lei>N/A</lei>
        <title>Kamigumi Co Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3219000001"/>
          <ticker value="9364"/>
        </identifiers>
        <balance>34.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="150.495000000000"/>
        <valUSD>956.550000000000</valUSD>
        <pctVal>0.1719097941</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>Kawasaki Kisen Kaisha Ltd</name>
        <lei>353800FL04R73DS5P870</lei>
        <title>Kawasaki Kisen Kaisha Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3223800008"/>
          <ticker value="9107"/>
        </identifiers>
        <balance>202.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="150.495000000000"/>
        <valUSD>2875.740000000000</valUSD>
        <pctVal>0.5168238683</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>Kardex Holding AG</name>
        <lei>529900JKKMQ07D6QZ480</lei>
        <title>Kardex Holding AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CH0100837282"/>
          <ticker value="KARN"/>
        </identifiers>
        <balance>2.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt=".812050000000"/>
        <valUSD>773.350000000000</valUSD>
        <pctVal>0.1389853528</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>Cognex Corp</name>
        <lei>549300JQTYZCLC43S226</lei>
        <title>Cognex Corp</title>
        <cusip>192422103</cusip>
        <identifiers>
          <isin value="US1924221039"/>
          <ticker value="CGNX"/>
        </identifiers>
        <balance>53.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2160.810000000000</valUSD>
        <pctVal>0.3883376741</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>Open Text Corp</name>
        <lei>549300HP7ONDQODZJV16</lei>
        <title>Open Text Corp</title>
        <cusip>683715106</cusip>
        <identifiers>
          <isin value="CA6837151068"/>
          <ticker value="OTEX"/>
        </identifiers>
        <balance>82.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.382550000000"/>
        <valUSD>2418.690000000000</valUSD>
        <pctVal>0.4346834978</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>Hyundai Glovis Co Ltd</name>
        <lei>988400U6RDXNJ5ZRN304</lei>
        <title>Hyundai Glovis Co Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7086280005"/>
          <ticker value="086280"/>
        </identifiers>
        <balance>24.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1386.800000000000"/>
        <valUSD>2552.640000000000</valUSD>
        <pctVal>0.4587567997</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>ID Logistics Group SACA</name>
        <lei>969500U1DQN70VMJ9P45</lei>
        <title>ID Logistics Group SACA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0010929125"/>
          <ticker value="IDL"/>
        </identifiers>
        <balance>2.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".873710000000"/>
        <valUSD>1008.340000000000</valUSD>
        <pctVal>0.1812174186</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AutoStore Holdings Ltd</name>
        <lei>549300KYN3M0LSM5A413</lei>
        <title>AutoStore Holdings Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG0670A1099"/>
          <ticker value="AUTO"/>
        </identifiers>
        <balance>1081.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="10.293450000000"/>
        <valUSD>768.210000000000</valUSD>
        <pctVal>0.1380615994</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ANE Cayman Inc</name>
        <lei>N/A</lei>
        <title>ANE Cayman Inc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG1904L1014"/>
          <ticker value="9956"/>
        </identifiers>
        <balance>370.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.850000000000"/>
        <valUSD>384.140000000000</valUSD>
        <pctVal>0.0690370899</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Santos Brasil Participacoes SA</name>
        <lei>N/A</lei>
        <title>Santos Brasil Participacoes SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BRSTBPACNOR3"/>
          <ticker value="STBP3"/>
        </identifiers>
        <balance>274.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="5.598550000000"/>
        <valUSD>682.240000000000</valUSD>
        <pctVal>0.1226111943</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Expeditors International of Wa</name>
        <lei>984500B055A804AB6E40</lei>
        <title>Expeditors International of Washington Inc</title>
        <cusip>302130109</cusip>
        <identifiers>
          <isin value="US3021301094"/>
          <ticker value="EXPD"/>
        </identifiers>
        <balance>43.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4998.320000000000</valUSD>
        <pctVal>0.8982909016</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>Deutsche Post AG</name>
        <lei>8ER8GIG7CSMVD8VUFE78</lei>
        <title>Deutsche Post AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE0005552004"/>
          <ticker value="DHL"/>
        </identifiers>
        <balance>376.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".873710000000"/>
        <valUSD>16977.260000000000</valUSD>
        <pctVal>3.0511288177</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>SAP SE</name>
        <lei>529900D6BF99LW9R2E68</lei>
        <title>SAP SE</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE0007164600"/>
          <ticker value="SAP"/>
        </identifiers>
        <balance>175.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".873710000000"/>
        <valUSD>50234.060000000000</valUSD>
        <pctVal>9.0279932154</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>Hoegh Autoliners ASA</name>
        <lei>549300D7GNMPKTA4HD46</lei>
        <title>Hoegh Autoliners ASA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NO0011082075"/>
          <ticker value="HAUTO"/>
        </identifiers>
        <balance>60.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="10.293450000000"/>
        <valUSD>609.130000000000</valUSD>
        <pctVal>0.1094719700</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JD Logistics Inc</name>
        <lei>655600LWTFVMV3E2A890</lei>
        <title>JD Logistics Inc</title>
        <cusip>G5074S101</cusip>
        <identifiers>
          <isin value="KYG5074S1012"/>
          <ticker value="2618"/>
        </identifiers>
        <balance>2062.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.850000000000"/>
        <valUSD>3588.140000000000</valUSD>
        <pctVal>0.6448553745</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Kirby Corp</name>
        <lei>I7NO6FZO5GUCG585T325</lei>
        <title>Kirby Corp</title>
        <cusip>497266106</cusip>
        <identifiers>
          <isin value="US4972661064"/>
          <ticker value="KEX"/>
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        <balance>18.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1715.580000000000</valUSD>
        <pctVal>0.3083215770</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="1620.270000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Knight-Swift Transportation Ho</name>
        <lei>N/A</lei>
        <title>Knight-Swift Transportation Holdings Inc</title>
        <cusip>499049104</cusip>
        <identifiers>
          <isin value="US4990491049"/>
          <ticker value="KNX"/>
        </identifiers>
        <balance>51.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2167.500000000000</valUSD>
        <pctVal>0.3895399913</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="2040.000000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Landstar System Inc</name>
        <lei>254900CUQXQRL09MEI52</lei>
        <title>Landstar System Inc</title>
        <cusip>515098101</cusip>
        <identifiers>
          <isin value="US5150981018"/>
          <ticker value="LSTR"/>
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        <balance>11.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1467.070000000000</valUSD>
        <pctVal>0.2636597163</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>Marten Transport Ltd</name>
        <lei>N/A</lei>
        <title>Marten Transport Ltd</title>
        <cusip>573075108</cusip>
        <identifiers>
          <isin value="US5730751089"/>
          <ticker value="MRTN"/>
        </identifiers>
        <balance>26.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>316.160000000000</valUSD>
        <pctVal>0.0568198218</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>ATS Corp</name>
        <lei>5493005KP4RP3IU7HQ41</lei>
        <title>ATS Corp</title>
        <cusip>00217Y104</cusip>
        <identifiers>
          <isin value="CA00217Y1043"/>
          <ticker value="ATS"/>
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        <balance>31.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.382550000000"/>
        <valUSD>942.860000000000</valUSD>
        <pctVal>0.1694494469</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>ADNOC Logistics &amp; Services</name>
        <lei>254900CIXQYSEOFXAB16</lei>
        <title>ADNOC Logistics &amp; Services</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEE01268A239"/>
          <ticker value="ADNOCLS"/>
        </identifiers>
        <balance>2335.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.673100000000"/>
        <valUSD>2962.380000000000</valUSD>
        <pctVal>0.5323946848</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Matson Inc</name>
        <lei>549300OI5H3Y0I9I4I12</lei>
        <title>Matson Inc</title>
        <cusip>57686G105</cusip>
        <identifiers>
          <isin value="US57686G1058"/>
          <ticker value="MATX"/>
        </identifiers>
        <balance>10.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1067.800000000000</valUSD>
        <pctVal>0.1919034845</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>Daifuku Co Ltd</name>
        <lei>3538006FG1W4X3MYHL36</lei>
        <title>Daifuku Co Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3497400006"/>
          <ticker value="6383"/>
        </identifiers>
        <balance>118.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="150.495000000000"/>
        <valUSD>3039.090000000000</valUSD>
        <pctVal>0.5461808960</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>Celestica Inc</name>
        <lei>549300J3CG5T6RZWLN53</lei>
        <title>Celestica Inc</title>
        <cusip>15101Q207</cusip>
        <identifiers>
          <isin value="CA15101Q2071"/>
          <ticker value="CLS"/>
        </identifiers>
        <balance>36.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.382550000000"/>
        <valUSD>7213.020000000000</valUSD>
        <pctVal>1.2963136092</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>Cybozu Inc</name>
        <lei>N/A</lei>
        <title>Cybozu Inc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3312100005"/>
          <ticker value="4776"/>
        </identifiers>
        <balance>17.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="150.495000000000"/>
        <valUSD>456.930000000000</valUSD>
        <pctVal>0.0821188043</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>COSCO SHIPPING Ports Ltd</name>
        <lei>5299008QX6KA3JHWK507</lei>
        <title>COSCO SHIPPING Ports Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG2442N1048"/>
          <ticker value="1199"/>
        </identifiers>
        <balance>1188.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.850000000000"/>
        <valUSD>832.360000000000</valUSD>
        <pctVal>0.1495905454</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA MER PORT</name>
        <lei>529900GA4UH90FUOR048</lei>
        <title>China Merchants Port Holdings Co Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0144000764"/>
          <ticker value="144"/>
        </identifiers>
        <balance>1327.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.850000000000"/>
        <valUSD>2613.430000000000</valUSD>
        <pctVal>0.4696818913</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CJ Logistics Corp</name>
        <lei>988400MIXJ2YDYLYR916</lei>
        <title>CJ Logistics Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7000120006"/>
          <ticker value="000120"/>
        </identifiers>
        <balance>7.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1386.800000000000"/>
        <valUSD>449.240000000000</valUSD>
        <pctVal>0.0807367685</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>J&amp;T Global Express Ltd</name>
        <lei>2549009MQXHGQY558V11</lei>
        <title>J&amp;T Global Express Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG4990A1040"/>
          <ticker value="1519"/>
        </identifiers>
        <balance>2530.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.850000000000"/>
        <valUSD>3326.060000000000</valUSD>
        <pctVal>0.5977547328</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hiab Oyj</name>
        <lei>5493002B0GOVF42KWX33</lei>
        <title>Hiab Oyj</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FI4000571013"/>
          <ticker value="HIAB"/>
        </identifiers>
        <balance>17.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".873710000000"/>
        <valUSD>1163.540000000000</valUSD>
        <pctVal>0.2091097400</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kalmar Oyj</name>
        <lei>636700Z25ZQXLMZ3CY73</lei>
        <title>Kalmar Oyj</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FI4000571054"/>
          <ticker value="KALMAR"/>
        </identifiers>
        <balance>17.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".873710000000"/>
        <valUSD>771.670000000000</valUSD>
        <pctVal>0.1386834256</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hapag-Lloyd AG</name>
        <lei>HD52L5PJVBXJUUX8I539</lei>
        <title>Hapag-Lloyd AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000HLAG475"/>
          <ticker value="HLAG"/>
        </identifiers>
        <balance>55.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".873710000000"/>
        <valUSD>7988.350000000000</valUSD>
        <pctVal>1.4356548048</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>Norfolk Southern Corp</name>
        <lei>54930036C8MWP850MI84</lei>
        <title>Norfolk Southern Corp</title>
        <cusip>655844108</cusip>
        <identifiers>
          <isin value="US6558441084"/>
          <ticker value="NSC"/>
        </identifiers>
        <balance>71.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19738.000000000000</valUSD>
        <pctVal>3.5472850509</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>Mitsubishi Logistics Corp</name>
        <lei>529900GJKGNRLQBJUH32</lei>
        <title>Mitsubishi Logistics Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3902000003"/>
          <ticker value="9301"/>
        </identifiers>
        <balance>120.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="150.495000000000"/>
        <valUSD>1029.000000000000</valUSD>
        <pctVal>0.1849304042</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>Golden Ocean Group Ltd</name>
        <lei>549300HQH91CZG0OJL61</lei>
        <title>Golden Ocean Group Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG396372051"/>
          <ticker value="GOGL"/>
        </identifiers>
        <balance>60.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>489.600000000000</valUSD>
        <pctVal>0.0879902098</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="465.120000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Flex Ltd</name>
        <lei>549300EAQH74YHD07T53</lei>
        <title>Flex Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SG9999000020"/>
          <ticker value="FLEX"/>
        </identifiers>
        <balance>120.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5984.400000000000</valUSD>
        <pctVal>1.0755077849</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="4887.260000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mitsui OSK Lines Ltd</name>
        <lei>353800P8O843TMAZ6S09</lei>
        <title>Mitsui OSK Lines Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3362700001"/>
          <ticker value="9104"/>
        </identifiers>
        <balance>113.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="150.495000000000"/>
        <valUSD>3818.100000000000</valUSD>
        <pctVal>0.6861834559</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>Mitsui-Soko Holdings Co Ltd</name>
        <lei>N/A</lei>
        <title>Mitsui-Soko Holdings Co Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3891200002"/>
          <ticker value="9302"/>
        </identifiers>
        <balance>24.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="150.495000000000"/>
        <valUSD>627.530000000000</valUSD>
        <pctVal>0.1127787916</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>Mainfreight Ltd</name>
        <lei>5493007BE0VNXX7RYQ88</lei>
        <title>Mainfreight Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NZMFTE0001S9"/>
          <ticker value="MFT"/>
        </identifiers>
        <balance>32.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NZD" exchangeRt="1.693910000000"/>
        <valUSD>1118.360000000000</valUSD>
        <pctVal>0.2009900552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nikkon Holdings Co Ltd</name>
        <lei>3538005QJ1M73DPIMH49</lei>
        <title>Nikkon Holdings Co Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3709600005"/>
          <ticker value="9072"/>
        </identifiers>
        <balance>40.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="150.495000000000"/>
        <valUSD>906.870000000000</valUSD>
        <pctVal>0.1629813757</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>Mitsubishi Logisnext Co Ltd</name>
        <lei>N/A</lei>
        <title>Mitsubishi Logisnext Co Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3753800006"/>
          <ticker value="7105"/>
        </identifiers>
        <balance>34.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="150.495000000000"/>
        <valUSD>443.710000000000</valUSD>
        <pctVal>0.0797429248</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>Nippon Yusen KK</name>
        <lei>353800YPW4XM0ZN5I149</lei>
        <title>Nippon Yusen KK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3753000003"/>
          <ticker value="9101"/>
        </identifiers>
        <balance>145.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="150.495000000000"/>
        <valUSD>5107.450000000000</valUSD>
        <pctVal>0.9179035887</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>OOIL</name>
        <lei>529900DQ426GJO276W95</lei>
        <title>Orient Overseas International Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG677491539"/>
          <ticker value="316"/>
        </identifiers>
        <balance>205.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.850000000000"/>
        <valUSD>3695.220000000000</valUSD>
        <pctVal>0.6640996386</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sankyu Inc</name>
        <lei>529900QWTXZZEM1T5G75</lei>
        <title>Sankyu Inc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3326000001"/>
          <ticker value="9065"/>
        </identifiers>
        <balance>17.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="150.495000000000"/>
        <valUSD>1002.980000000000</valUSD>
        <pctVal>0.1802541271</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>Seino Holdings Co Ltd</name>
        <lei>3538001D12EPCPYTTF24</lei>
        <title>Seino Holdings Co Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3415400005"/>
          <ticker value="9076"/>
        </identifiers>
        <balance>59.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="150.495000000000"/>
        <valUSD>902.480000000000</valUSD>
        <pctVal>0.1621924112</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>Senko Group Holdings Co Ltd</name>
        <lei>35380077MB9W0NB6BA14</lei>
        <title>Senko Group Holdings Co Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3423800006"/>
          <ticker value="9069"/>
        </identifiers>
        <balance>56.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="150.495000000000"/>
        <valUSD>757.610000000000</valUSD>
        <pctVal>0.1361565826</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>Old Dominion Freight Line Inc</name>
        <lei>5299009TWK32WE417T96</lei>
        <title>Old Dominion Freight Line Inc</title>
        <cusip>679580100</cusip>
        <identifiers>
          <isin value="US6795801009"/>
          <ticker value="ODFL"/>
        </identifiers>
        <balance>67.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9999.750000000000</valUSD>
        <pctVal>1.7971407279</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>Sumitomo Warehouse Co Ltd/The</name>
        <lei>N/A</lei>
        <title>Sumitomo Warehouse Co Ltd/The</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3407000003"/>
          <ticker value="9303"/>
        </identifiers>
        <balance>25.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="150.495000000000"/>
        <valUSD>519.950000000000</valUSD>
        <pctVal>0.0934446683</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>Toyota Industries Corp</name>
        <lei>35380000WKGEAHEMW830</lei>
        <title>Toyota Industries Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3634600005"/>
          <ticker value="6201"/>
        </identifiers>
        <balance>102.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="150.495000000000"/>
        <valUSD>11030.600000000000</valUSD>
        <pctVal>1.9824036115</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>Yamato Holdings Co Ltd</name>
        <lei>N/A</lei>
        <title>Yamato Holdings Co Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3940000007"/>
          <ticker value="9064"/>
        </identifiers>
        <balance>114.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="150.495000000000"/>
        <valUSD>1662.710000000000</valUSD>
        <pctVal>0.2988198565</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>Yaskawa Electric Corp</name>
        <lei>3538003K39GR98R0CK58</lei>
        <title>Yaskawa Electric Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3932000007"/>
          <ticker value="6506"/>
        </identifiers>
        <balance>84.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="150.495000000000"/>
        <valUSD>1776.060000000000</valUSD>
        <pctVal>0.3191909559</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>RXO Inc</name>
        <lei>549300KL8CA6GP8XPM30</lei>
        <title>RXO Inc</title>
        <cusip>74982T103</cusip>
        <identifiers>
          <isin value="US74982T1034"/>
          <ticker value="RXO"/>
        </identifiers>
        <balance>52.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>803.400000000000</valUSD>
        <pctVal>0.1443858957</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="757.050000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Ryder System Inc</name>
        <lei>ZXJ6Y2OSPZXIVGRILD15</lei>
        <title>Ryder System Inc</title>
        <cusip>783549108</cusip>
        <identifiers>
          <isin value="US7835491082"/>
          <ticker value="R"/>
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        <balance>13.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2310.230000000000</valUSD>
        <pctVal>0.4151912222</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>Saia Inc</name>
        <lei>549300WNPG4N9GBOYB29</lei>
        <title>Saia Inc</title>
        <cusip>78709Y105</cusip>
        <identifiers>
          <isin value="US78709Y1055"/>
          <ticker value="SAIA"/>
        </identifiers>
        <balance>9.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2720.160000000000</valUSD>
        <pctVal>0.4888632538</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>Sanmina Corp</name>
        <lei>X5K24XLM8QYRXF00EB42</lei>
        <title>Sanmina Corp</title>
        <cusip>801056102</cusip>
        <identifiers>
          <isin value="US8010561020"/>
          <ticker value="SANM"/>
        </identifiers>
        <balance>17.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1972.680000000000</valUSD>
        <pctVal>0.3545272203</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>Schneider National Inc</name>
        <lei>529900V6GZ6G6E3BLV72</lei>
        <title>Schneider National Inc</title>
        <cusip>80689H102</cusip>
        <identifiers>
          <isin value="US80689H1023"/>
          <ticker value="SNDR"/>
        </identifiers>
        <balance>29.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>709.050000000000</valUSD>
        <pctVal>0.1274294491</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>Symbotic Inc</name>
        <lei>N/A</lei>
        <title>Symbotic Inc</title>
        <cusip>87151X101</cusip>
        <identifiers>
          <isin value="US87151X1019"/>
          <ticker value="SYM"/>
        </identifiers>
        <balance>35.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1888.250000000000</valUSD>
        <pctVal>0.3393535818</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="1780.350000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>U.S. Bank Money Market Deposit Account</name>
        <lei>N/A</lei>
        <title>U.S. Bank Money Market Deposit Account</title>
        <cusip>8AMMF0A84</cusip>
        <identifiers>
          <ticker value="USBFS03"/>
        </identifiers>
        <balance>188.800000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>188.800000000000</valUSD>
        <pctVal>0.0339308652</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>Union Pacific Corp</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>Union Pacific Corp</title>
        <cusip>907818108</cusip>
        <identifiers>
          <isin value="US9078181081"/>
          <ticker value="UNP"/>
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        <balance>238.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>52828.860000000000</valUSD>
        <pctVal>9.4943269498</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="50165.220000000000"/>
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      <invstOrSec>
        <name>United Parcel Service Inc</name>
        <lei>D01LMJZU09ULLNCY6Z23</lei>
        <title>United Parcel Service Inc</title>
        <cusip>911312106</cusip>
        <identifiers>
          <isin value="US9113121068"/>
          <ticker value="UPS"/>
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        <balance>409.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35239.440000000000</valUSD>
        <pctVal>6.3331816149</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>Werner Enterprises Inc</name>
        <lei>549300P6XRGOCHHJST37</lei>
        <title>Werner Enterprises Inc</title>
        <cusip>950755108</cusip>
        <identifiers>
          <isin value="US9507551086"/>
          <ticker value="WERN"/>
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        <balance>20.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>554.400000000000</valUSD>
        <pctVal>0.0996359729</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>XPO Inc</name>
        <lei>54930096DB9LCLPN7H13</lei>
        <title>XPO Inc</title>
        <cusip>983793100</cusip>
        <identifiers>
          <isin value="US9837931008"/>
          <ticker value="XPO"/>
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        <balance>37.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4450.730000000000</valUSD>
        <pctVal>0.7998788122</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>Mount Vernon Liquid Assets Portfolio, LLC</name>
        <lei>N/A</lei>
        <title>Mount Vernon Liquid Assets Portfolio, LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="990VR1110"/>
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        <balance>64998.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>64998.000000000000</valUSD>
        <pctVal>11.6813473371</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="64998.000000000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COSCO SHIPPING Holdings Co Ltd</name>
        <lei>3003009XI0QGYYA29S17</lei>
        <title>COSCO SHIPPING Holdings Co Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000002J7"/>
          <ticker value="1919"/>
        </identifiers>
        <balance>938.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.850000000000"/>
        <valUSD>1715.880000000000</valUSD>
        <pctVal>0.3083754926</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Kuehne + Nagel International A</name>
        <lei>529900Q0YED3805QXQ66</lei>
        <title>Kuehne + Nagel International AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CH0025238863"/>
          <ticker value="KNIN"/>
        </identifiers>
        <balance>38.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt=".812050000000"/>
        <valUSD>7779.690000000000</valUSD>
        <pctVal>1.3981547288</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>
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      </invstOrSec>
      <invstOrSec>
        <name>DSV A/S</name>
        <lei>529900X41C0BSLK67H70</lei>
        <title>DSV A/S</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DK0060079531"/>
          <ticker value="DSV"/>
        </identifiers>
        <balance>76.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.519850000000"/>
        <valUSD>17071.250000000000</valUSD>
        <pctVal>3.0680205657</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Wallenius Wilhelmsen ASA</name>
        <lei>549300NBN0URT3RA3Y54</lei>
        <title>Wallenius Wilhelmsen ASA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NO0010571680"/>
          <ticker value="WAWI"/>
        </identifiers>
        <balance>134.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="10.293450000000"/>
        <valUSD>1208.720000000000</valUSD>
        <pctVal>0.2172294248</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SITC International Holdings Co</name>
        <lei>529900JUV4MOM9CE3V12</lei>
        <title>SITC International Holdings Co Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG8187G1055"/>
          <ticker value="1308"/>
        </identifiers>
        <balance>836.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.850000000000"/>
        <valUSD>2710.340000000000</valUSD>
        <pctVal>0.4870984175</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Westshore Terminals Investment</name>
        <lei>549300IERWRM7D8GK487</lei>
        <title>Westshore Terminals Investment Corp</title>
        <cusip>96145A200</cusip>
        <identifiers>
          <isin value="CA96145A2002"/>
          <ticker value="WTE"/>
        </identifiers>
        <balance>20.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.382550000000"/>
        <valUSD>408.090000000000</valUSD>
        <pctVal>0.0733413495</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>Konoike Transport Co Ltd</name>
        <lei>3538004PLQ2IF2DMNC61</lei>
        <title>Konoike Transport Co Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3288970001"/>
          <ticker value="9025"/>
        </identifiers>
        <balance>18.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="150.495000000000"/>
        <valUSD>386.330000000000</valUSD>
        <pctVal>0.0694306735</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>KION Group AG</name>
        <lei>5299005KY91C4C6U9H17</lei>
        <title>KION Group AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000KGX8881"/>
          <ticker value="KGX"/>
        </identifiers>
        <balance>41.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".873710000000"/>
        <valUSD>2545.750000000000</valUSD>
        <pctVal>0.4575185388</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>TFI International Inc</name>
        <lei>5493007R9W7KO7SJN678</lei>
        <title>TFI International Inc</title>
        <cusip>87241L109</cusip>
        <identifiers>
          <isin value="CA87241L1094"/>
          <ticker value="TFII"/>
        </identifiers>
        <balance>27.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.382550000000"/>
        <valUSD>2353.260000000000</valUSD>
        <pctVal>0.4229245121</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>SG Holdings Co Ltd</name>
        <lei>N/A</lei>
        <title>SG Holdings Co Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3162770006"/>
          <ticker value="9143"/>
        </identifiers>
        <balance>202.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="150.495000000000"/>
        <valUSD>2256.970000000000</valUSD>
        <pctVal>0.4056194114</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>Transcoal Pacific Tbk PT</name>
        <lei>N/A</lei>
        <title>Transcoal Pacific Tbk PT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ID1000144009"/>
          <ticker value="TCPI"/>
        </identifiers>
        <balance>1577.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="16455.000000000000"/>
        <valUSD>601.380000000000</valUSD>
        <pctVal>0.1080791511</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CTT-Correios de Portugal SA</name>
        <lei>529900G4A1IKOKC22K56</lei>
        <title>CTT-Correios de Portugal SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="PTCTT0AM0001"/>
          <ticker value="CTT"/>
        </identifiers>
        <balance>44.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".873710000000"/>
        <valUSD>372.660000000000</valUSD>
        <pctVal>0.0669739207</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NIPPON EXPRESS HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>NIPPON EXPRESS HOLDINGS INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3688370000"/>
          <ticker value="9147"/>
        </identifiers>
        <balance>83.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="150.495000000000"/>
        <valUSD>1828.820000000000</valUSD>
        <pctVal>0.3286729074</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>ZTO Express Cayman Inc</name>
        <lei>549300SCJPK3YZJTJR78</lei>
        <title>ZTO Express Cayman Inc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG9897K1058"/>
          <ticker value="2057"/>
        </identifiers>
        <balance>186.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.850000000000"/>
        <valUSD>3599.160000000000</valUSD>
        <pctVal>0.6468358731</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Logista Integral SA</name>
        <lei>9598000ANNAL42UJ7X28</lei>
        <title>Logista Integral SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ES0105027009"/>
          <ticker value="LOG"/>
        </identifiers>
        <balance>42.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".873710000000"/>
        <valUSD>1334.450000000000</valUSD>
        <pctVal>0.2398254401</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wilson Sons SA</name>
        <lei>25490033I0F25FUYFJ42</lei>
        <title>Wilson Sons SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BRPORTACNOR8"/>
          <ticker value="PORT3"/>
        </identifiers>
        <balance>138.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="5.598550000000"/>
        <valUSD>435.550000000000</valUSD>
        <pctVal>0.0782764213</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TS Lines Ltd</name>
        <lei>8368006B8C0EXQ2JDM96</lei>
        <title>TS Lines Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0001078598"/>
          <ticker value="2510"/>
        </identifiers>
        <balance>528.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.850000000000"/>
        <valUSD>569.700000000000</valUSD>
        <pctVal>0.1023856669</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SFL Corp Ltd</name>
        <lei>549300RLYYPSB0C7RH77</lei>
        <title>SFL Corp Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG7738W1064"/>
          <ticker value="SFL"/>
        </identifiers>
        <balance>46.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>422.280000000000</valUSD>
        <pctVal>0.0758915559</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ZIM Integrated Shipping Servic</name>
        <lei>21380089EIJRELKAIL21</lei>
        <title>ZIM Integrated Shipping Services Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IL0065100930"/>
          <ticker value="ZIM"/>
        </identifiers>
        <balance>38.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>602.300000000000</valUSD>
        <pctVal>0.1082444922</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>Costamare Inc</name>
        <lei>5299003L6NPTZ25LN818</lei>
        <title>Costamare Inc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MHY1771G1026"/>
          <ticker value="CMRE"/>
        </identifiers>
        <balance>36.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>363.240000000000</valUSD>
        <pctVal>0.0652809718</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MC</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Danaos Corp</name>
        <lei>734IM3DNDNT36T7YTD24</lei>
        <title>Danaos Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MHY1968P1218"/>
          <ticker value="DAC"/>
        </identifiers>
        <balance>6.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>550.860000000000</valUSD>
        <pctVal>0.0989997691</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Navios Maritime Partners LP</name>
        <lei>213800185NOIXCLYX335</lei>
        <title>Navios Maritime Partners LP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MHY622674098"/>
          <ticker value="NMM"/>
        </identifiers>
        <balance>10.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>410.300000000000</valUSD>
        <pctVal>0.0737385275</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MC</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Star Bulk Carriers Corp</name>
        <lei>549300SO3FMK7H6DDY54</lei>
        <title>Star Bulk Carriers Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MHY8162K2046"/>
          <ticker value="SBLK"/>
        </identifiers>
        <balance>37.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>675.620000000000</valUSD>
        <pctVal>0.1214214574</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="639.100000000000"/>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-09-25</ncom:dateSigned>
      <ncom:nameOfApplicant>Pacer Funds Trust</ncom:nameOfApplicant>
      <ncom:signature>/s/ Bruce Kavanaugh</ncom:signature>
      <ncom:signerName>Pacer Funds Trust</ncom:signerName>
      <ncom:title>Vice President</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
