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        <name>Kawasaki Kisen Kaisha Ltd.</name>
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        <name>Horiba Ltd.</name>
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        <name>Rakuten Bank Ltd.</name>
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        <name>IIDA Group Holdings Co Ltd.</name>
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        <name>GLP J-REIT</name>
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        <name>Yaskawa Electric Corp.</name>
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        <name>Oracle Corp Japan</name>
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        <name>Ricoh Co Ltd.</name>
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        <name>J.FRONT RETAILING COMPANY LTD</name>
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        <name>HASEKO Corp.</name>
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        <name>Nippon Steel Corp.</name>
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        <name>Comsys Holdings Corp.</name>
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        <name>Nomura Research Institute Ltd</name>
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        <name>Monotaro CoLtd</name>
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        <name>NGK Insulators Ltd</name>
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        <name>Mitsubishi Heavy Industries Ltd.</name>
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      <invstOrSec>
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        <name>Kakaku.Com Inc.</name>
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        <name>TOMY CO LTD</name>
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        <name>Kobe Bussan Co Ltd.</name>
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        <name>Trend Micro Inc.</name>
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      <invstOrSec>
        <name>Teijin Ltd</name>
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        <name>Sumitomo Metal Mining Co Ltd.</name>
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        <name>Japan Steel Works Ltd</name>
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        <name>Mitsui &amp; Co Ltd.</name>
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        <name>Takashimaya Co Ltd</name>
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        <name>NITORI HOLDINGS COMPANY LTD</name>
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        <name>Nikkon Holdings Co Ltd</name>
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        <name>Central Japan Railway Co.</name>
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        <name>Keikyu Corp</name>
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        <title>Keikyu Corp NPV</title>
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        <name>ALSOK CO LTD</name>
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        <name>Money Forward Inc.</name>
        <lei>35380017JS3GIGP6WN95</lei>
        <title>Money Forward Inc. NPV</title>
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        <name>ANA Holdings Inc.</name>
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        <name>Oriental Land Co Ltd.</name>
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        <name>Persol Holdings Co Ltd.</name>
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        <name>Japan Airport Terminal Co. Ltd.</name>
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        <name>Shizuoka Financial Group Inc.</name>
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        <name>Sapporo Breweries Ltd.</name>
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        <name>NHK Spring Co Ltd</name>
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      <invstOrSec>
        <name>Screen Holdings Co Ltd.</name>
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        <name>DMG Mori Co Ltd.</name>
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        <name>Daiwa House REIT Investment Corp.</name>
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        <name>Toto Ltd</name>
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        <name>Tobu Railway Co Ltd</name>
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        <name>Taiheiyo Cement Corp</name>
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        <name>ZOZO Inc.</name>
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        <name>Nisshin Seifun Group Inc.</name>
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        <name>Dentsu Group Inc</name>
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        <name>Nomura Real Estate Holdings Inc.</name>
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        <name>Terumo Corp.</name>
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        <name>Kuraray Co Ltd</name>
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      <invstOrSec>
        <name>Eisai Co Ltd.</name>
        <lei>353800HDEE0ZYEX4QV91</lei>
        <title>Eisai Co Ltd. NPV</title>
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        <name>ONO Pharmaceutical Co Ltd</name>
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        <name>GS Yuasa Corp.</name>
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        <name>Kurita Water Industries Ltd.</name>
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        <name>Denso Corp.</name>
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        <name>Mitsubishi Gas Chemical Co Inc.</name>
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        <name>Toyota Boshoku Corp.</name>
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        <name>TOEI ANIMATION COMPANY LTD</name>
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        <name>Asahi Kasei Corp.</name>
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        <name>Honda Motor Co Ltd.</name>
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        <name>NTT Inc.</name>
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        <name>Resonac Holdings Corp.</name>
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        <name>Advantest Corp.</name>
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        <name>Nintendo Co Ltd.</name>
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        <title>Nintendo Co Ltd. NPV</title>
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        <name>Hisamitsu Pharmaceutical Co Inc.</name>
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        <name>ABC-Mart Inc.</name>
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        <name>NSK Ltd</name>
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        <name>Marui Group Co Ltd.</name>
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      <invstOrSec>
        <name>Isuzu Motors Ltd.</name>
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      <invstOrSec>
        <name>Japan Post Holdings Co Ltd.</name>
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        <name>Tosoh Corp.</name>
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        <name>LaSalle LOGIPORT REIT</name>
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        <name>SOCIONEXT INC</name>
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        <title>Socionext Inc. NPV</title>
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        <name>Lixil Corp.</name>
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        <name>Panasonic Holdings Corp.</name>
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      <invstOrSec>
        <name>Shin-Etsu Chemical Co Ltd.</name>
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        <title>Shin-Etsu Chemical Co Ltd. NPV</title>
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          <isin value="JP3371200001"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Takasago Thermal Engineering Co., Ltd.</name>
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        <title>Takasago Thermal Engineering Co., Ltd. NPV</title>
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          <isin value="JP3455200000"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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      <invstOrSec>
        <name>BAYCURRENT INC</name>
        <lei>N/A</lei>
        <title>Baycurrent Inc. NPV</title>
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          <isin value="JP3835250006"/>
          <ticker value="6532"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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      <invstOrSec>
        <name>DIC Corp.</name>
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        <title>DIC Corp. NPV</title>
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          <isin value="JP3493400000"/>
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      <invstOrSec>
        <name>AEON Financial Service Co Ltd.</name>
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        <name>KRAFTIA CORP</name>
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        <title>Kraftia Corp. NPV</title>
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        <invCountry>JP</invCountry>
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      <invstOrSec>
        <name>Nagoya Railroad Co Ltd</name>
        <lei>353800P62OOYUY3I8T51</lei>
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      <invstOrSec>
        <name>Credit Saison Co Ltd.</name>
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        <invCountry>JP</invCountry>
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      <invstOrSec>
        <name>KYOCERA CORP</name>
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      <invstOrSec>
        <name>Murata Manufacturing Co Ltd.</name>
        <lei>529900QZG6DL8ZRI7140</lei>
        <title>Murata Manufacturing Co Ltd. NPV</title>
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        <invCountry>JP</invCountry>
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      <invstOrSec>
        <name>KOTOBUKI SPIRITS COMPANY LTD</name>
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          <ticker value="2222"/>
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        <invCountry>JP</invCountry>
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      <invstOrSec>
        <name>Tokyo Seimitsu Co Ltd</name>
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        <title>Tokyo Seimitsu Co Ltd NPV</title>
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          <isin value="JP3580200008"/>
          <ticker value="7729"/>
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        <invCountry>JP</invCountry>
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      </invstOrSec>
      <invstOrSec>
        <name>Fast Retailing Co Ltd.</name>
        <lei>353800ZCXKHDPY0N5218</lei>
        <title>Fast Retailing Co Ltd. NPV</title>
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        <identifiers>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <name>Invincible Investment Corporation</name>
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        <name>SHO-BOND HOLDINGS COMPANY LTD</name>
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        <name>Resorttrust Inc.</name>
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        <name>Tokio Marine Holdings Inc.</name>
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        <name>Aozora Bank Ltd.</name>
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        <name>Bandai Namco Holdings Inc.</name>
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        <name>Kyushu Railway Co.</name>
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        <name>Tokyo Electric Power Company Holdings Inc.</name>
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        <name>Japan Tobacco Inc</name>
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        <name>Gmo Internet Group Inc.</name>
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        <name>Kewpie Corp</name>
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        <name>Bridgestone Corp.</name>
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        <name>Oji Holdings Corp.</name>
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        <name>Mitsubishi Chemical Group Corp.</name>
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        <name>Mitsubishi Motors Corp.</name>
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        <name>MS&amp;AD Insurance Group Holdings Inc.</name>
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        <title>MS&amp;AD Insurance Group Holdings Inc. NPV</title>
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        <name>Sumitomo Forestry Co Ltd.</name>
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        <name>Sekisui House Ltd</name>
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        <name>Chugai Pharmaceutical Co Ltd.</name>
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        <name>Suzuki Motor Corp.</name>
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        <name>Maruwa Co Ltd</name>
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        <name>SG HOLDINGS CO LTD</name>
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        <name>Dai Nippon Printing Co Ltd.</name>
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        <name>Keisei Electric Railway Co Ltd.</name>
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        <name>The 77 Bank Ltd</name>
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        <name>Mitsui Kinzoku Co Ltd.</name>
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        <name>M3, Inc.</name>
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        <name>Kusuri No Aoki Holdings Co Ltd</name>
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      <invstOrSec>
        <name>Taisei Corp.</name>
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        <name>TDK Corp.</name>
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        <name>Harmonic Drive Systems Inc.</name>
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        <name>KYOTO FINANCIAL GROUP INC</name>
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        <name>Nippon Express Holdings Inc</name>
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        <name>Iwatani Corp.</name>
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        <name>Kose Holdings Corp.</name>
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        <name>HOYA Corp.</name>
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        <name>Hitachi Construction Machinery Co Ltd.</name>
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        <name>Japan Airlines Co Ltd.</name>
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        <name>Mitsubishi Logistics Corp</name>
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        <name>Mitsui E&amp;S Co Ltd</name>
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        <name>Nippon Yusen Kabushiki Kaisha</name>
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        <name>Ryohin Keikaku Co Ltd.</name>
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        <name>Canon Inc.</name>
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        <name>Toyo Tire Corp.</name>
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        <name>JX Advanced Metals Corp.</name>
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        <name>Japan Prime Realty Investment Corporation</name>
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        <name>Toyota Tsusho Corp.</name>
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        <name>Misumi Group Inc.</name>
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        <name>Olympus Corp.</name>
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        <name>Nipro Corp</name>
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        <name>Mitsui Fudosan Co Ltd.</name>
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        <name>Daiichi Life Group Inc.</name>
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        <name>Matsukiyococokara &amp; Co.</name>
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        <name>VISIONAL INC</name>
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        <name>Morinaga Milk Industry Co Ltd</name>
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        <name>Subaru Corp.</name>
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        <name>USS Co Ltd.</name>
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        <name>Mizuho Financial Group Inc.</name>
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        <name>Nissan Motor Co Ltd.</name>
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        <name>Yamaguchi Financial Group Inc</name>
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        <name>Sumitomo Rubber Industries Ltd.</name>
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        <name>TOKYO OHKA KOGYO CO LTD</name>
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        <name>DEXERIALS CORP</name>
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        <name>Daifuku Co Ltd.</name>
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        <name>Relo Group Inc</name>
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      <invstOrSec>
        <name>Fuyo General Lease Co Ltd</name>
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        <name>Biprogy Inc</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Obayashi Corp.</name>
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        <name>Sysmex Corp.</name>
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        <name>YAMAZAKI BAKING CO LTD</name>
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        <name>Internet Initiative Japan Inc.</name>
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          <isin value="JP3152820001"/>
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        <name>Omron Corp.</name>
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        <name>Suntory Beverage &amp; Food Ltd</name>
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        <name>ROHM Co Ltd.</name>
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        <name>Isetan Mitsukoshi Holdings Ltd.</name>
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        <name>SAWAI GROUP HOLDINGS CO LTD</name>
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        <name>ORIX JREIT Inc.</name>
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        <name>Toyo Seikan Group Holdings Ltd.</name>
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        <name>East Japan Railway Co.</name>
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        <name>Asahi Intecc Co Ltd.</name>
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        <name>UBE Corporation</name>
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        <name>SHIMAMURA CO LTD</name>
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        <title>Shimamura Corp NPV</title>
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        <name>Seibu Holdings Inc</name>
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        <title>Seibu Holdings Inc NPV</title>
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        <name>ITOCHU Corp.</name>
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        <name>Canon Marketing Japan Inc.</name>
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        <name>Sankyu Inc</name>
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        <name>Seino Holdings Co Ltd.</name>
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        <name>AGC Inc.</name>
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        <name>Chugoku Electric Power Co Inc</name>
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        <name>K's Holdings Corp</name>
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        <name>Kikkoman Corp</name>
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        <name>Daiwa House Industry Co Ltd.</name>
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        <name>Kyushu Electric Power Co Inc</name>
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        <name>Daido Steel Co Ltd</name>
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        <name>Aisin Corp.</name>
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        <name>Daicel Corp.</name>
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        <name>Mitsui Fudosan Logistics Park Inc</name>
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        <name>Sanrio Co., Ltd</name>
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        <name>Sumitomo Chemical Co Ltd.</name>
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        <name>Toyota Industries Corp.</name>
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        <name>BLUE ZONES HOLDINGS CO LTD</name>
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        <name>Japan Metropolitan Fund Investment Corp.</name>
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        <name>Keihan Holdings Co Ltd</name>
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      <invstOrSec>
        <name>TOPPAN Holdings Inc</name>
        <lei>3538003H9W4KIDODQY20</lei>
        <title>TOPPAN Holdings Inc NPV</title>
        <cusip>890747108</cusip>
        <identifiers>
          <isin value="JP3629000005"/>
          <ticker value="7911"/>
          <other otherDesc="SEDOL" value="6897024"/>
        </identifiers>
        <balance>124200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.09000000"/>
        <valUSD>3204733.17000000</valUSD>
        <pctVal>0.110650013559</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>Idemitsu Kosan Co.,Ltd.</name>
        <lei>549300P0R46FF6DUA630</lei>
        <title>Idemitsu Kosan Co.,Ltd. NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3142500002"/>
          <ticker value="5019"/>
          <other otherDesc="SEDOL" value="B1FF8P7"/>
        </identifiers>
        <balance>414000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.09000000"/>
        <valUSD>4011446.35000000</valUSD>
        <pctVal>0.138503447705</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>Yokohama Rubber Co Ltd</name>
        <lei>52990036XNWY2FMYWB76</lei>
        <title>Yokohama Rubber Co Ltd NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3955800002"/>
          <ticker value="5101"/>
          <other otherDesc="SEDOL" value="6986461"/>
        </identifiers>
        <balance>69000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.09000000"/>
        <valUSD>2524665.28000000</valUSD>
        <pctVal>0.087169268905</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>Toyo Suisan Kaisha Ltd</name>
        <lei>N/A</lei>
        <title>Toyo Suisan Kaisha Ltd NPV</title>
        <cusip>892306101</cusip>
        <identifiers>
          <isin value="JP3613000003"/>
          <ticker value="2875"/>
          <other otherDesc="SEDOL" value="6899967"/>
        </identifiers>
        <balance>41400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.09000000"/>
        <valUSD>2862530.64000000</valUSD>
        <pctVal>0.098834766368</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>Ibiden Co Ltd.</name>
        <lei>52990051DBFIQEY37C91</lei>
        <title>Ibiden Co Ltd. NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3148800000"/>
          <ticker value="4062"/>
          <other otherDesc="SEDOL" value="6456102"/>
        </identifiers>
        <balance>138000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.09000000"/>
        <valUSD>6394719.97000000</valUSD>
        <pctVal>0.220790878322</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>Kobe Steel Ltd</name>
        <lei>549300ZDCYYUPHEE5K87</lei>
        <title>Kobe Steel Ltd NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3289800009"/>
          <ticker value="5406"/>
          <other otherDesc="SEDOL" value="6496023"/>
        </identifiers>
        <balance>179400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.09000000"/>
        <valUSD>2131284.18000000</valUSD>
        <pctVal>0.073586976171</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>Seven Bank Ltd.</name>
        <lei>353800WMG1NLGHB7B594</lei>
        <title>Seven Bank Ltd. NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3105220002"/>
          <ticker value="8410"/>
          <other otherDesc="SEDOL" value="B2NT8S1"/>
        </identifiers>
        <balance>303600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.09000000"/>
        <valUSD>510866.30000000</valUSD>
        <pctVal>0.017638711251</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>Ulvac Inc</name>
        <lei>N/A</lei>
        <title>Ulvac Inc NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3126190002"/>
          <ticker value="6728"/>
          <other otherDesc="SEDOL" value="6599483"/>
        </identifiers>
        <balance>27600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.09000000"/>
        <valUSD>1414263.62000000</valUSD>
        <pctVal>0.048830364473</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>Shionogi &amp; Co Ltd.</name>
        <lei>35380049VXDTHZI3DY35</lei>
        <title>Shionogi &amp; Co Ltd. NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3347200002"/>
          <ticker value="4507"/>
          <other otherDesc="SEDOL" value="6804682"/>
        </identifiers>
        <balance>400200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.09000000"/>
        <valUSD>8726468.04000000</valUSD>
        <pctVal>0.301299283196</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>Furukawa Electric Co Ltd.</name>
        <lei>353800TJR1DQ3P1QR918</lei>
        <title>Furukawa Electric Co Ltd. NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3827200001"/>
          <ticker value="5801"/>
          <other otherDesc="SEDOL" value="6357562"/>
        </identifiers>
        <balance>36500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.09000000"/>
        <valUSD>6604139.17000000</valUSD>
        <pctVal>0.228021507547</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>Shimadzu Corporation</name>
        <lei>353800Y64Z08WEH8PH97</lei>
        <title>Shimadzu Corporation NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3357200009"/>
          <ticker value="7701"/>
          <other otherDesc="SEDOL" value="6804369"/>
        </identifiers>
        <balance>138000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.09000000"/>
        <valUSD>3199962.29000000</valUSD>
        <pctVal>0.110485289101</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>MODEC INC</name>
        <lei>N/A</lei>
        <title>Modec Inc(Japan) NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3888250002"/>
          <ticker value="6269"/>
          <other otherDesc="SEDOL" value="6622806"/>
        </identifiers>
        <balance>27600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.09000000"/>
        <valUSD>2545049.97000000</valUSD>
        <pctVal>0.087873092314</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>Coca-Cola Bottlers Japan Holding Inc.</name>
        <lei>353800XN1G90665VTQ16</lei>
        <title>Coca-Cola Bottlers Japan Holding Inc. NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3293200006"/>
          <ticker value="2579"/>
          <other otherDesc="SEDOL" value="6163286"/>
        </identifiers>
        <balance>55200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.09000000"/>
        <valUSD>1249104.28000000</valUSD>
        <pctVal>0.043127898076</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>TOKYU FUDOSAN HOLDINGS CORP</name>
        <lei>N/A</lei>
        <title>Tokyu Fudosan Holdings Corp. NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3569200003"/>
          <ticker value="3289"/>
          <other otherDesc="SEDOL" value="BDC6LT2"/>
        </identifiers>
        <balance>317400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.09000000"/>
        <valUSD>2643503.68000000</valUSD>
        <pctVal>0.091272409439</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>FRONTIER REAL ESTATE INVESTMENT CORP</name>
        <lei>N/A</lei>
        <title>Mitsui Fudosan Retail Fund Investment Corp. REIT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3046200006"/>
          <ticker value="8964"/>
          <other otherDesc="SEDOL" value="B020QY3"/>
        </identifiers>
        <balance>1242.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.09000000"/>
        <valUSD>658902.51000000</valUSD>
        <pctVal>0.022749966315</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>House Foods Group Inc</name>
        <lei>N/A</lei>
        <title>House Foods Group Inc NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3765400001"/>
          <ticker value="2810"/>
          <other otherDesc="SEDOL" value="6440503"/>
        </identifiers>
        <balance>27600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.09000000"/>
        <valUSD>528960.97000000</valUSD>
        <pctVal>0.018263467002</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 HC Capital Inc.</name>
        <lei>353800MZ3QX9RLMH7B09</lei>
        <title>Mitsubishi HC Capital Inc. NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3499800005"/>
          <ticker value="8593"/>
          <other otherDesc="SEDOL" value="6268976"/>
        </identifiers>
        <balance>441600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.09000000"/>
        <valUSD>3888877.99000000</valUSD>
        <pctVal>0.134271522619</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 Heavy Industries Ltd</name>
        <lei>5493008FFSI8SQ74AT93</lei>
        <title>Kawasaki Heavy Industries Ltd NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3224200000"/>
          <ticker value="7012"/>
          <other otherDesc="SEDOL" value="6484620"/>
        </identifiers>
        <balance>414000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.09000000"/>
        <valUSD>7538864.79000000</valUSD>
        <pctVal>0.260294834855</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>Stanley Electric Co Ltd</name>
        <lei>N/A</lei>
        <title>Stanley Electric Co Ltd NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3399400005"/>
          <ticker value="6923"/>
          <other otherDesc="SEDOL" value="6841106"/>
        </identifiers>
        <balance>41400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.09000000"/>
        <valUSD>743997.74000000</valUSD>
        <pctVal>0.025688054403</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>
    </invstOrSecs>
    <explntrNotes>



      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-05-21</ncom:dateSigned>
      <ncom:nameOfApplicant>Franklin Templeton ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Monica Krogh</ncom:signature>
      <ncom:signerName>Monica Krogh</ncom:signerName>
      <ncom:title>Assistant Treasurer Controller, US Fund Administration and Oversight</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
