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        <assetCat>EC</assetCat>
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        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JD.COM INC ADR</name>
        <lei>549300HVTWB0GJZ16V92</lei>
        <title>JD.COM INC ADR</title>
        <cusip>47215P106</cusip>
        <identifiers>
          <isin value="US47215P1066"/>
          <ticker value="JD"/>
        </identifiers>
        <balance>387711</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14612827.59</valUSD>
        <pctVal>6.0067885014</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>DBS GROUP HOLDINGS LTD</name>
        <lei>5493007FKT78NKPM5V55</lei>
        <title>DBS GROUP HOLDINGS LTD</title>
        <cusip>617520903</cusip>
        <identifiers>
          <isin value="SG1L01001701"/>
          <ticker value="D05"/>
          <other otherDesc="SEDOL" value="6175203"/>
        </identifiers>
        <balance>400620</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.3646"/>
        <valUSD>7379838.75</valUSD>
        <pctVal>3.0335765116</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW ORIENTAL EDUC SP ADR</name>
        <lei>529900NHZVBZQZ8EKN29</lei>
        <title>NEW ORIENTAL EDUCATIO SP ADR</title>
        <cusip>647581107</cusip>
        <identifiers>
          <isin value="US6475811070"/>
          <ticker value="EDU"/>
        </identifiers>
        <balance>159357</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19369843.35</valUSD>
        <pctVal>7.9622202884</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>NOAH HOLDINGS LTD SPON ADS</name>
        <lei>3003008QW3IHPD3NTU41</lei>
        <title>NOAH HOLDINGS LTD SPON ADS</title>
        <cusip>65487X102</cusip>
        <identifiers>
          <isin value="US65487X1028"/>
          <ticker value="NOAH"/>
        </identifiers>
        <balance>80375</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2727123.75</valUSD>
        <pctVal>1.1210188776</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>NASPERS LTD N SHS</name>
        <lei>21380044BQ8812EEKT59</lei>
        <title>NASPERS LTD N SHS COMMON STOCK ZAR.02</title>
        <cusip>662269901</cusip>
        <identifiers>
          <isin value="ZAE000015889"/>
          <ticker value="NPNj"/>
          <other otherDesc="SEDOL" value="6622691"/>
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        <balance>67733</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="15.0085"/>
        <valUSD>10986056.2</valUSD>
        <pctVal>4.5159580274</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OVINTIV INC</name>
        <lei>N/A</lei>
        <title>OVINTIV INC COMMON STOCK</title>
        <cusip>69047Q102</cusip>
        <identifiers>
          <isin value="US69047Q1022"/>
          <ticker value="OVV"/>
        </identifiers>
        <balance>166269.8</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2598796.97</valUSD>
        <pctVal>1.0682685237</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>QUOTIENT TECHNOLOGY INC</name>
        <lei>5493005ZZT58VQ9RKP56</lei>
        <title>QUOTIENT TECHNOLOGY INC</title>
        <cusip>749119103</cusip>
        <identifiers>
          <isin value="US7491191034"/>
          <ticker value="QUOT"/>
        </identifiers>
        <balance>239675</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2413527.25</valUSD>
        <pctVal>0.9921110506</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>SEVEN GENERATIONS ENERGY   A</name>
        <lei>549300XZHTA2VXQWAL67</lei>
        <title>SEVEN GENERATIONS ENERGY   A</title>
        <cusip>81783Q956</cusip>
        <identifiers>
          <isin value="CA81783Q1054"/>
          <ticker value="VII"/>
          <other otherDesc="SEDOL" value="BRK0MM4"/>
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        <balance>704345</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3234"/>
        <valUSD>3533966.15</valUSD>
        <pctVal>1.4526817006</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>UNITED TECHNOLOGIES CORP</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
        <title>UNITED TECHNOLOGIES CORP</title>
        <cusip>913017109</cusip>
        <identifiers>
          <isin value="US9130171096"/>
          <ticker value="UTX"/>
        </identifiers>
        <balance>66012</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9915002.4</valUSD>
        <pctVal>4.0756877504</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>WELLS FARGO + CO</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO + CO</title>
        <cusip>949746101</cusip>
        <identifiers>
          <isin value="US9497461015"/>
          <ticker value="WFC"/>
        </identifiers>
        <balance>251679</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11813812.26</valUSD>
        <pctVal>4.8562176761</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>YIREN DIGITAL LTD   SPS ADR</name>
        <lei>549300GUWSM4NWQXJO64</lei>
        <title>YIREN DIGITAL LTD</title>
        <cusip>98585L100</cusip>
        <identifiers>
          <isin value="US98585L1008"/>
          <ticker value="YRD"/>
        </identifiers>
        <balance>146963</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>673090.54</valUSD>
        <pctVal>0.2766824211</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>METRO BANK PLC</name>
        <lei>213800X5WU57YL9GPK89</lei>
        <title>METRO BANK PLC COMMON STOCK GBP.000001</title>
        <cusip>ACI0L3FD1</cusip>
        <identifiers>
          <isin value="GB00BZ6STL67"/>
          <ticker value="MTRO"/>
          <other otherDesc="SEDOL" value="BZ6STL6"/>
        </identifiers>
        <balance>494721</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.757289"/>
        <valUSD>1497326.57</valUSD>
        <pctVal>0.6154951167</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUL AMERICA SA   UNITS</name>
        <lei>N/A</lei>
        <title>SUL AMERICA SA   UNITS</title>
        <cusip>B27WYK907</cusip>
        <identifiers>
          <isin value="BRSULACDAM12"/>
          <ticker value="SULA11"/>
          <other otherDesc="SEDOL" value="B27WYK0"/>
        </identifiers>
        <balance>189687</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.2826"/>
        <valUSD>2790426.61</valUSD>
        <pctVal>1.1470403227</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>JULIUS BAER GROUP LTD</name>
        <lei>5299007MF0604ZGJER92</lei>
        <title>JULIUS BAER GROUP LTD</title>
        <cusip>B4R2R5908</cusip>
        <identifiers>
          <isin value="CH0102484968"/>
          <ticker value="JGE"/>
          <other otherDesc="SEDOL" value="B4R2R50"/>
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        <balance>54058</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.9632"/>
        <valUSD>2701150.3</valUSD>
        <pctVal>1.1103421609</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AIA GROUP LTD</name>
        <lei>ZP5ILWVSYE4LJGMMVD57</lei>
        <title>AIA GROUP LTD COMMON STOCK</title>
        <cusip>B4TX8S909</cusip>
        <identifiers>
          <isin value="HK0000069689"/>
          <ticker value="1299"/>
          <other otherDesc="SEDOL" value="B4TX8S1"/>
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        <balance>579590</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7666"/>
        <valUSD>5743125.71</valUSD>
        <pctVal>2.3607848149</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FERGUSON PLC</name>
        <lei>213800DU1LGY3R2S2X42</lei>
        <title>FERGUSON PLC</title>
        <cusip>BJVNSS903</cusip>
        <identifiers>
          <isin value="JE00BJVNSS43"/>
          <ticker value="FERG"/>
          <other otherDesc="SEDOL" value="BJVNSS4"/>
        </identifiers>
        <balance>131388</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.757289"/>
        <valUSD>11798879.54</valUSD>
        <pctVal>4.8500793918</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ADIENT PLC</name>
        <lei>5493002QLDY8O75RTR78</lei>
        <title>ADIENT PLC</title>
        <cusip>G0084W101</cusip>
        <identifiers>
          <isin value="IE00BD845X29"/>
          <ticker value="ADNT"/>
        </identifiers>
        <balance>83958</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2158560.18</valUSD>
        <pctVal>0.8873035960</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF N.T. BUTTERFIELD+SON</name>
        <lei>549300V8RVM0EMTDPF28</lei>
        <title>BANK OF N.T. BUTTERFIELD+SON</title>
        <cusip>G0772R208</cusip>
        <identifiers>
          <isin value="BMG0772R2087"/>
          <ticker value="NTB"/>
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        <balance>134188</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4457725.36</valUSD>
        <pctVal>1.8324046643</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>HOLLYSYS AUTOMATION TECHNOLO</name>
        <lei>N/A</lei>
        <title>HOLLYSYS AUTOMATION TECHNOLO</title>
        <cusip>G45667105</cusip>
        <identifiers>
          <isin value="VGG456671053"/>
          <ticker value="HOLI"/>
        </identifiers>
        <balance>522803</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7794992.73</valUSD>
        <pctVal>3.2042308315</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>INTERGLOBE AVIATION LTD</name>
        <lei>33580079R8SLLO23XD19</lei>
        <title>INTERGLOBE AVIATION LTD</title>
        <cusip>AC10HQYF9</cusip>
        <identifiers>
          <isin value="INE646L01027"/>
          <ticker value="INDIGO"/>
          <other otherDesc="SEDOL" value="BYYZ7D0"/>
        </identifiers>
        <balance>207365</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.3575"/>
        <valUSD>4020348.52</valUSD>
        <pctVal>1.6526153554</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MEITUAN DIANPING CLASS B</name>
        <lei>21380033K525E5JLIA77</lei>
        <title>MEITUAN DIANPING CLASS B</title>
        <cusip>AC114YZ22</cusip>
        <identifiers>
          <isin value="KYG596691041"/>
          <ticker value="3690"/>
          <other otherDesc="SEDOL" value="BGJW376"/>
        </identifiers>
        <balance>328740</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7666"/>
        <valUSD>4161794.43</valUSD>
        <pctVal>1.7107584944</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-02-20</ncom:dateSigned>
      <ncom:nameOfApplicant>Davis Fundamental ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Doug A. Haines</ncom:signature>
      <ncom:signerName>Doug A. Haines</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
