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        <currencyConditional curCd="ZAR" exchangeRt="15.0085"/>
        <valUSD>7356260.5</valUSD>
        <pctVal>4.8589982278</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>NOVARTIS AG SPONSORED ADR</name>
        <lei>5493007HIVTX6SY6XD66</lei>
        <title>NOVARTIS AG SPONSORED ADR</title>
        <cusip>66987V109</cusip>
        <identifiers>
          <isin value="US66987V1098"/>
          <ticker value="NVS"/>
        </identifiers>
        <balance>28184</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2663669.84</valUSD>
        <pctVal>1.7594220640</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>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>125986.6</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1969170.56</valUSD>
        <pctVal>1.3006875248</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>ROCHE HOLDING AG GENUSSCHEIN</name>
        <lei>549300U41AUUVOAAOB37</lei>
        <title>ROCHE HOLDING AG GENUSSCHEIN</title>
        <cusip>711038901</cusip>
        <identifiers>
          <isin value="CH0012032048"/>
          <ticker value="ROG"/>
          <other otherDesc="SEDOL" value="7110388"/>
        </identifiers>
        <balance>8820</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.9632"/>
        <valUSD>2958830.85</valUSD>
        <pctVal>1.9543834611</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>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>762553</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3234"/>
        <valUSD>3826017.77</valUSD>
        <pctVal>2.5271826037</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>TRIP.COM GROUP LTD ADR</name>
        <lei>2549004RMYDSRQL4KW41</lei>
        <title>TRIP.COM GROUP LTD ADR</title>
        <cusip>89677Q107</cusip>
        <identifiers>
          <isin value="US89677Q1076"/>
          <ticker value="TCOM"/>
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        <balance>57072</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1833723.36</valUSD>
        <pctVal>1.2112211845</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>121099</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>554633.42</valUSD>
        <pctVal>0.3663495610</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"/>
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        <balance>311593</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.757289"/>
        <valUSD>943069.88</valUSD>
        <pctVal>0.6229217788</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>SAFRAN SA</name>
        <lei>969500UIC89GT3UL7L24</lei>
        <title>SAFRAN SA</title>
        <cusip>B058TZ909</cusip>
        <identifiers>
          <isin value="FR0000073272"/>
          <ticker value="SAF"/>
          <other otherDesc="SEDOL" value="B058TZ6"/>
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        <balance>36607</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.901673"/>
        <valUSD>5902406.13</valUSD>
        <pctVal>3.8986902279</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>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"/>
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        <balance>193720</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.2826"/>
        <valUSD>2849754.82</valUSD>
        <pctVal>1.8823359532</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>102637</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.9632"/>
        <valUSD>5128527.94</valUSD>
        <pctVal>3.3875238882</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>559290</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7666"/>
        <valUSD>5541974.12</valUSD>
        <pctVal>3.6606156657</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>BRENNTAG AG</name>
        <lei>NNROIXVWJ7CPSR27SV97</lei>
        <title>BRENNTAG AG</title>
        <cusip>B4YVF5909</cusip>
        <identifiers>
          <isin value="DE000A1DAH00"/>
          <ticker value="BNR"/>
          <other otherDesc="SEDOL" value="B4YVF56"/>
        </identifiers>
        <balance>28700</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.901673"/>
        <valUSD>1485226.73</valUSD>
        <pctVal>0.9810302461</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>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"/>
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        <balance>82307</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.757289"/>
        <valUSD>7391317.16</valUSD>
        <pctVal>4.8821540485</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>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>147754</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4908387.88</valUSD>
        <pctVal>3.2421157476</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>312568</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4660388.88</valUSD>
        <pctVal>3.0783060644</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"/>
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        <balance>226798</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.3575"/>
        <valUSD>4397111.39</valUSD>
        <pctVal>2.9044045479</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>550470</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7666"/>
        <valUSD>6968859.83</valUSD>
        <pctVal>4.6031101759</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>
