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        <balance>906929</balance>
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        <currencyConditional curCd="DKK" exchangeRt="7.0512"/>
        <valUSD>13911243.63</valUSD>
        <pctVal>5.1670963292</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>IQIYI INC ADR</name>
        <lei>222100XL8T2Q5B8MS302</lei>
        <title>IQIYI INC ADR</title>
        <cusip>46267X108</cusip>
        <identifiers>
          <isin value="US46267X1081"/>
          <ticker value="IQ"/>
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        <balance>254439</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>905802.84</valUSD>
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        <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>JD.COM INC ADR</name>
        <lei>549300HVTWB0GJZ16V92</lei>
        <title>JD.COM INC ADR ADR USD.00002</title>
        <cusip>47215P106</cusip>
        <identifiers>
          <isin value="US47215P1066"/>
          <ticker value="JD"/>
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        <balance>207428</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12790010.48</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LIBERTY MEDIA CORP LIBERTY C</name>
        <lei>549300ZKUTPIBZLWLL89</lei>
        <title>LIBERTY MEDIA CORP LIBERTY C TRACKING STK USD.01</title>
        <cusip>531229854</cusip>
        <identifiers>
          <isin value="US5312298541"/>
          <ticker value="FWONK"/>
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        <balance>93121</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5804231.93</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LIBERTY MEDIA CORP LIBERTY A</name>
        <lei>549300ZKUTPIBZLWLL89</lei>
        <title>LIBERTY MEDIA CORP LIBERTY A TRACKING STK USD.01</title>
        <cusip>531229870</cusip>
        <identifiers>
          <isin value="US5312298707"/>
          <ticker value="FWONA"/>
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        <balance>70037</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4021524.54</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </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"/>
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        <balance>784536</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.38295"/>
        <valUSD>19033327.83</valUSD>
        <pctVal>7.0696079357</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <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"/>
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        <balance>89762</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1613023.14</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </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>21354</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="15.7925"/>
        <valUSD>2153677.67</valUSD>
        <pctVal>0.7999471707</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SAMSUNG ELECTRONICS CO LTD</name>
        <lei>9884007ER46L6N7EI764</lei>
        <title>SAMSUNG ELECTRONICS CO LTD COMMON STOCK KRW100.0</title>
        <cusip>677172009</cusip>
        <identifiers>
          <isin value="KR7005930003"/>
          <ticker value="005930"/>
          <other otherDesc="SEDOL" value="6771720"/>
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        <balance>147787</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1256"/>
        <valUSD>7876093.12</valUSD>
        <pctVal>2.9254416737</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OWENS CORNING</name>
        <lei>JO5M6676RDJIZ2U8X907</lei>
        <title>OWENS CORNING COMMON STOCK USD.001</title>
        <cusip>690742101</cusip>
        <identifiers>
          <isin value="US6907421019"/>
          <ticker value="OC"/>
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        <balance>24410</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2219601.3</valUSD>
        <pctVal>0.8244333889</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>TECK RESOURCES LTD CLS B</name>
        <lei>T8KI5SQ2JRWHL7XY0E11</lei>
        <title>TECK RESOURCES LTD CLS B COMMON STOCK</title>
        <cusip>878742204</cusip>
        <identifiers>
          <isin value="CA8787422044"/>
          <ticker value="TECK"/>
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        <balance>110058</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4342888.68</valUSD>
        <pctVal>1.6130926000</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>VIATRIS INC</name>
        <lei>254900ZZTSW7NL773X71</lei>
        <title>VIATRIS INC COMMON STOCK</title>
        <cusip>92556V106</cusip>
        <identifiers>
          <isin value="US92556V1061"/>
          <ticker value="VTRS"/>
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        <balance>793652</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8198425.16</valUSD>
        <pctVal>3.0451664622</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>VIMEO INC</name>
        <lei>N/A</lei>
        <title>VIMEO INC COMMON STOCK USD.01</title>
        <cusip>92719V100</cusip>
        <identifiers>
          <isin value="US92719V1008"/>
          <ticker value="VMEO"/>
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        <balance>54252</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>552827.88</valUSD>
        <pctVal>0.2053385726</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>VROOM INC</name>
        <lei>N/A</lei>
        <title>VROOM INC COMMON STOCK</title>
        <cusip>92918V109</cusip>
        <identifiers>
          <isin value="US92918V1098"/>
          <ticker value="VRM"/>
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        <balance>89248</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>139226.88</valUSD>
        <pctVal>0.0517134715</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>WELLS FARGO + CO</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO + CO</title>
        <cusip>949746101</cusip>
        <identifiers>
          <isin value="US9497461015"/>
          <ticker value="WFC"/>
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        <balance>402418</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17557497.34</valUSD>
        <pctVal>6.5214356436</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FILA HOLDINGS CORP</name>
        <lei>N/A</lei>
        <title>FILA HOLDINGS CORP COMMON STOCK KRW1000.0</title>
        <cusip>ACI0083P9</cusip>
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          <isin value="KR7081660003"/>
          <ticker value="A08166"/>
          <other otherDesc="SEDOL" value="B66CTX7"/>
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        <balance>106249</balance>
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        <currencyConditional curCd="KRW" exchangeRt="1256"/>
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        <pctVal>1.0083538475</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>METRO BANK PLC</name>
        <lei>213800X5WU57YL9GPK89</lei>
        <title>METRO BANK PLC COMMON STOCK GBP.000001</title>
        <cusip>ACI0L3FD1</cusip>
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          <isin value="GB00BZ6STL67"/>
          <ticker value="MTRO"/>
          <other otherDesc="SEDOL" value="BZ6STL6"/>
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        <balance>533229</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.79526"/>
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        <pctVal>0.2198878150</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MEITUAN CLASS B</name>
        <lei>21380033K525E5JLIA77</lei>
        <title>MEITUAN CLASS B COMMON STOCK USD.00001</title>
        <cusip>ACI14YZ22</cusip>
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          <isin value="KYG596691041"/>
          <ticker value="3690"/>
          <other otherDesc="SEDOL" value="BGJW376"/>
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        <balance>326940</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.847"/>
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        <pctVal>2.6019429672</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PING AN INSURANCE GROUP CO H</name>
        <lei>529900M9MC28JLN35U89</lei>
        <title>PING AN INSURANCE GROUP CO H COMMON STOCK CNY1.0</title>
        <cusip>B01FLR903</cusip>
        <identifiers>
          <isin value="CNE1000003X6"/>
          <ticker value="2318"/>
          <other otherDesc="SEDOL" value="B01FLR7"/>
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        <balance>1658275</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.847"/>
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        <pctVal>3.8931687335</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JULIUS BAER GROUP LTD</name>
        <lei>5299007MF0604ZGJER92</lei>
        <title>JULIUS BAER GROUP LTD</title>
        <cusip>B4R2R5908</cusip>
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          <isin value="CH0102484968"/>
          <ticker value="JGE"/>
          <other otherDesc="SEDOL" value="B4R2R50"/>
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        <balance>226107</balance>
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        <currencyConditional curCd="CHF" exchangeRt="0.97275"/>
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        <pctVal>4.0133942138</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <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>1054190</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.847"/>
        <valUSD>10356106.9</valUSD>
        <pctVal>3.8466008770</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PROSUS NV</name>
        <lei>635400Z5LQ5F9OLVT688</lei>
        <title>PROSUS NV COMMON STOCK EUR.05</title>
        <cusip>BJDS7L900</cusip>
        <identifiers>
          <isin value="NL0013654783"/>
          <ticker value="PRX"/>
          <other otherDesc="SEDOL" value="BJDS7L3"/>
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        <balance>158369</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.947912"/>
        <valUSD>7637925.4</valUSD>
        <pctVal>2.8369782995</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </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>144636</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4632691.08</valUSD>
        <pctVal>1.7207348035</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>2549008FKCB1PSUOZ583</lei>
        <title>HOLLYSYS AUTOMATION TECHNOLO</title>
        <cusip>G45667105</cusip>
        <identifiers>
          <isin value="VGG456671053"/>
          <ticker value="HOLI"/>
        </identifiers>
        <balance>608847</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9376243.8</valUSD>
        <pctVal>3.4826472894</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>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2022-05-18</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>
</edgarSubmission>
