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      <regZipOrPostalCode>45246</regZipOrPostalCode>
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        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PHILIPPINE SEVEN CORP</name>
        <lei>N/A</lei>
        <title>Philippine Seven Corporation </title>
        <cusip>Y6955M106</cusip>
        <identifiers>
          <isin value="PHY6955M1063"/>
        </identifiers>
        <balance>1669600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="61.22000000"/>
        <valUSD>924525.32000000</valUSD>
        <pctVal>0.547569751763</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BERGMAN &amp; BEVING AB</name>
        <lei>549300RC0HUZSJYJO751</lei>
        <title>Bergman &amp; Beving A.B. </title>
        <cusip>W14696111</cusip>
        <identifiers>
          <isin value="SE0000101362"/>
        </identifiers>
        <balance>29072.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.52140000"/>
        <valUSD>836613.10000000</valUSD>
        <pctVal>0.495501872776</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASIA VITAL COMPONENTS COMPANY LTD</name>
        <lei>N/A</lei>
        <title>Asia Vital Components Company Ltd. </title>
        <cusip>Y0392D100</cusip>
        <identifiers>
          <isin value="TW0003017000"/>
        </identifiers>
        <balance>35000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.30300000"/>
        <valUSD>2513698.42000000</valUSD>
        <pctVal>1.488791264090</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DERMAPHARM HOLDING SE</name>
        <lei>5299009F0KNZINQQQK37</lei>
        <title>Dermapharm Holding S.E. </title>
        <cusip>D1T0ZJ103</cusip>
        <identifiers>
          <isin value="DE000A2GS5D8"/>
        </identifiers>
        <balance>15198.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86690000"/>
        <valUSD>718788.79000000</valUSD>
        <pctVal>0.425717923345</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MONOTARO COMPANY LTD</name>
        <lei>5299005JUER5ANXWTC33</lei>
        <title>MonotaRO Company Ltd. </title>
        <cusip>J46583100</cusip>
        <identifiers>
          <isin value="JP3922950005"/>
        </identifiers>
        <balance>96100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.17300000"/>
        <valUSD>1209302.46000000</valUSD>
        <pctVal>0.716235059769</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>ARITZIA INC</name>
        <lei>549300U83HKFRL1EX527</lei>
        <title>Aritzia, Inc. </title>
        <cusip>04045U102</cusip>
        <identifiers>
          <isin value="CA04045U1021"/>
        </identifiers>
        <balance>25801.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40177000"/>
        <valUSD>2570952.21000000</valUSD>
        <pctVal>1.522701036922</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>FRIEDRICH VORWERK GROUP SE</name>
        <lei>529900NBM89YAM5ENI18</lei>
        <title>Friedrich Vorwerk Group S.E. </title>
        <cusip>D2R9Z3109</cusip>
        <identifiers>
          <isin value="DE000A255F11"/>
        </identifiers>
        <balance>10794.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86690000"/>
        <valUSD>816802.86000000</valUSD>
        <pctVal>0.483768837493</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUPRIYA LIFESCIENCE LTD</name>
        <lei>894500RBVJX1EOJP0Y02</lei>
        <title>Supriya Lifescience Ltd. </title>
        <cusip>Y83141112</cusip>
        <identifiers>
          <isin value="INE07RO01027"/>
        </identifiers>
        <balance>188647.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="95.40180000"/>
        <valUSD>1714401.08000000</valUSD>
        <pctVal>1.015390442522</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GLOBAL TAX FREE CO LTD</name>
        <lei>N/A</lei>
        <title>Global Tax Free Company Ltd. </title>
        <cusip>Y9866C100</cusip>
        <identifiers>
          <isin value="KR7204620009"/>
        </identifiers>
        <balance>486783.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1443.05000000"/>
        <valUSD>1598940.73000000</valUSD>
        <pctVal>0.947006598597</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LIFEDRINK CO INC</name>
        <lei>N/A</lei>
        <title>Lifedrink Co Inc </title>
        <cusip>J38829107</cusip>
        <identifiers>
          <isin value="JP3966680005"/>
        </identifiers>
        <balance>89200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.17300000"/>
        <valUSD>810333.41000000</valUSD>
        <pctVal>0.479937168361</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>SPORTON INTERNATIONAL INC</name>
        <lei>N/A</lei>
        <title>Sporton International, Inc. </title>
        <cusip>Y8129X109</cusip>
        <identifiers>
          <isin value="TW0006146004"/>
        </identifiers>
        <balance>420338.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.30300000"/>
        <valUSD>2504877.72000000</valUSD>
        <pctVal>1.483567017220</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TERRAVEST INDUSTRIES INC</name>
        <lei>254900H4S2STHU44PM25</lei>
        <title>TerraVest Industries, Inc. </title>
        <cusip>88105G103</cusip>
        <identifiers>
          <isin value="CA88105G1037"/>
        </identifiers>
        <balance>26071.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40177000"/>
        <valUSD>2124521.38000000</valUSD>
        <pctVal>1.258292898524</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>SANIL ELECTRIC CO LTD</name>
        <lei>988400KW0ZAP6QNYIX16</lei>
        <title>Sanil Electric Company Ltd. </title>
        <cusip>Y7T0PL103</cusip>
        <identifiers>
          <isin value="KR7062040001"/>
        </identifiers>
        <balance>12472.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1443.05000000"/>
        <valUSD>1237649.70000000</valUSD>
        <pctVal>0.733024314573</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>X-FAB SILICON FOUNDRIES SE</name>
        <lei>5493003UDPENPUQBJH65</lei>
        <title>X-Fab Silicon Foundries S.E. </title>
        <cusip>B9901Z101</cusip>
        <identifiers>
          <isin value="BE0974310428"/>
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        <balance>114285.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86690000"/>
        <valUSD>854929.32000000</valUSD>
        <pctVal>0.506350042990</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AIRTAC INTERNATIONAL GROUP</name>
        <lei>N/A</lei>
        <title>Airtac International Group </title>
        <cusip>G01408106</cusip>
        <identifiers>
          <isin value="KYG014081064"/>
        </identifiers>
        <balance>74000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.30300000"/>
        <valUSD>3035321.80000000</valUSD>
        <pctVal>1.797733786833</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>D'ALBA GLOBAL CO LTD</name>
        <lei>N/A</lei>
        <title>D'Alba Global Company Ltd. </title>
        <cusip>Y1R6UH108</cusip>
        <identifiers>
          <isin value="KR7483650008"/>
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        <balance>16850.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1443.05000000"/>
        <valUSD>2580541.21000000</valUSD>
        <pctVal>1.528380325781</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ASIA COMMERCIAL BANK JSB</name>
        <lei>5493001VSLUXY7LJS086</lei>
        <title>Asia Commercial Bank JSC </title>
        <cusip>Y0324N101</cusip>
        <identifiers>
          <isin value="VN000000ACB8"/>
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        <balance>2044968.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26296.00000000"/>
        <valUSD>1703103.10000000</valUSD>
        <pctVal>1.008698973970</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SINFONIA TECHNOLOGY COMPANY LTD</name>
        <lei>N/A</lei>
        <title>Sinfonia Technology Company Ltd. </title>
        <cusip>J7552H109</cusip>
        <identifiers>
          <isin value="JP3375400003"/>
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        <balance>11000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.17300000"/>
        <valUSD>921198.95000000</valUSD>
        <pctVal>0.545599638499</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>AZOOM CO LTD</name>
        <lei>N/A</lei>
        <title>AZOOM Company Ltd. </title>
        <cusip>J03827102</cusip>
        <identifiers>
          <isin value="JP3119880007"/>
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        <balance>37400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.17300000"/>
        <valUSD>1093759.62000000</valUSD>
        <pctVal>0.647802359390</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>
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      </invstOrSec>
      <invstOrSec>
        <name>S.J.S. ENTERPRISES LTD</name>
        <lei>984500E74D93F3F04562</lei>
        <title>SJS Enterprises Ltd. </title>
        <cusip>Y8066B102</cusip>
        <identifiers>
          <isin value="INE284S01014"/>
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        <balance>118768.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="95.40180000"/>
        <valUSD>2977484.97000000</valUSD>
        <pctVal>1.763478696182</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VOLUTION GROUP PLC</name>
        <lei>213800EPT84EQCDHO768</lei>
        <title>Volution Group plc </title>
        <cusip>G93824103</cusip>
        <identifiers>
          <isin value="GB00BN3ZZ526"/>
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        <balance>808566.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74200000"/>
        <valUSD>6745314.74000000</valUSD>
        <pctVal>3.995055882024</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEXT GENERATION TECHNOLOGY GROUP INC</name>
        <lei>N/A</lei>
        <title>Next Generation Technology Group, Inc. </title>
        <cusip>J4911H102</cusip>
        <identifiers>
          <isin value="JP3264350004"/>
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        <balance>18000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.17300000"/>
        <valUSD>1872679.41000000</valUSD>
        <pctVal>1.109134144282</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>SEMCNS CO LTD</name>
        <lei>N/A</lei>
        <title>SEMCNS Company Ltd. </title>
        <cusip>Y7T7G1102</cusip>
        <identifiers>
          <isin value="KR7252990007"/>
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        <balance>115700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1443.05000000"/>
        <valUSD>880347.87000000</valUSD>
        <pctVal>0.521404718954</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GULF OIL LUBRICANTS INDIA LTD</name>
        <lei>3358009J8O762GKOHS20</lei>
        <title>Gulf Oil Lubricants India Ltd. </title>
        <cusip>Y6985P111</cusip>
        <identifiers>
          <isin value="INE635Q01029"/>
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        <balance>138651.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="95.40180000"/>
        <valUSD>1554053.64000000</valUSD>
        <pctVal>0.920421266430</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KITZ CORP</name>
        <lei>52990071D57KBWPS6S92</lei>
        <title>Kitz Corporation </title>
        <cusip>J34039115</cusip>
        <identifiers>
          <isin value="JP3240700009"/>
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        <balance>143400.00000000</balance>
        <units>NS</units>
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        <valUSD>1981994.43000000</valUSD>
        <pctVal>1.173878286028</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>RENEW HOLDINGS PLC</name>
        <lei>213800O3DC3V4WYA2E09</lei>
        <title>Renew Holdings plc </title>
        <cusip>G7490A102</cusip>
        <identifiers>
          <isin value="GB0005359004"/>
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        <balance>224832.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74200000"/>
        <valUSD>2717982.53000000</valUSD>
        <pctVal>1.609782865923</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>QUALITAS LTD</name>
        <lei>N/A</lei>
        <title>Qualitas Ltd. </title>
        <cusip>Q7S90A105</cusip>
        <identifiers>
          <isin value="AU0000195265"/>
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        <balance>838725.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.42010000"/>
        <valUSD>1789547.74000000</valUSD>
        <pctVal>1.059897647541</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EUROFINS SCIENTIFIC SE</name>
        <lei>529900JEHFM47DYY3S57</lei>
        <title>Eurofins Scientific S.E. </title>
        <cusip>L31839134</cusip>
        <identifiers>
          <isin value="FR0014000MR3"/>
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        <balance>20434.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86690000"/>
        <valUSD>1606622.96000000</valUSD>
        <pctVal>0.951556562436</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CORPORACION INMOBILIARIA VESTA SAB DE CV</name>
        <lei>4469000001BIRIFZJ959</lei>
        <title>Corp Inmobiliaria Vesta S.A.B. de C.V. ADR</title>
        <cusip>92540K109</cusip>
        <identifiers>
          <isin value="US92540K1097"/>
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        <balance>49838.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1718912.62000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PUREGOLD PRICE CLUB INC</name>
        <lei>N/A</lei>
        <title>Puregold Price Club, Inc. </title>
        <cusip>Y71617107</cusip>
        <identifiers>
          <isin value="PHY716171079"/>
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        <balance>669400.00000000</balance>
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        <currencyConditional curCd="PHP" exchangeRt="61.22000000"/>
        <valUSD>448307.74000000</valUSD>
        <pctVal>0.265519778198</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CENTRE TESTING INTERNATIONAL GROUP CO LTD</name>
        <lei>8368009FQ1ZOBVGD5Y61</lei>
        <title>Centre Testing International Group Company Ltd. </title>
        <cusip>Y1252N105</cusip>
        <identifiers>
          <isin value="CNE100000GV8"/>
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        <balance>787300.00000000</balance>
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        <currencyConditional curCd="CNY" exchangeRt="6.75400000"/>
        <valUSD>1676247.26000000</valUSD>
        <pctVal>0.992793032484</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PUM TECH KOREA CO LTD</name>
        <lei>N/A</lei>
        <title>Pumtech Korea Company Ltd. </title>
        <cusip>Y7S47T109</cusip>
        <identifiers>
          <isin value="KR7251970000"/>
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        <balance>44360.00000000</balance>
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        <currencyConditional curCd="KRW" exchangeRt="1443.05000000"/>
        <valUSD>1417134.54000000</valUSD>
        <pctVal>0.839328022171</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CISARUA MOUNTAIN DAIRY TBK PT</name>
        <lei>N/A</lei>
        <title>Cisarua Mountain Dairy PT TBK </title>
        <cusip>Y163EZ106</cusip>
        <identifiers>
          <isin value="ID1000164700"/>
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        <balance>3456700.00000000</balance>
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        <currencyConditional curCd="IDR" exchangeRt="18026.00000000"/>
        <valUSD>882104.74000000</valUSD>
        <pctVal>0.522445262516</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PROTEC COMPANY</name>
        <lei>N/A</lei>
        <title>Protec Company Ltd. </title>
        <cusip>Y7113G106</cusip>
        <identifiers>
          <isin value="KR7053610002"/>
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        <balance>16137.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1443.05000000"/>
        <valUSD>645233.98000000</valUSD>
        <pctVal>0.382153525289</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BONESUPPORT HOLDING AB</name>
        <lei>549300COLY053IGTLD63</lei>
        <title>BoneSupport Holding AB </title>
        <cusip>W2R933137</cusip>
        <identifiers>
          <isin value="SE0009858152"/>
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        <balance>47905.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.52140000"/>
        <valUSD>1107891.80000000</valUSD>
        <pctVal>0.656172443072</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NAVIGATOR GLOBAL INVESTMENTS LTD</name>
        <lei>9845000577CDA8B2C946</lei>
        <title>Navigator Global Investments Limited </title>
        <cusip>Q6S02S105</cusip>
        <identifiers>
          <isin value="AU000000NGI6"/>
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        <balance>750081.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42010000"/>
        <valUSD>1225398.16000000</valUSD>
        <pctVal>0.725768079864</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SINBON ELECTRONICS CO LTD</name>
        <lei>N/A</lei>
        <title>Sinbon Electronics Company Ltd. </title>
        <cusip>Y7989R103</cusip>
        <identifiers>
          <isin value="TW0003023008"/>
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        <balance>139000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.30300000"/>
        <valUSD>1273689.75000000</valUSD>
        <pctVal>0.754369799445</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MANI INC</name>
        <lei>N/A</lei>
        <title>Mani, Inc. </title>
        <cusip>J39673108</cusip>
        <identifiers>
          <isin value="JP3869920003"/>
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        <balance>191600.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.17300000"/>
        <valUSD>1820027.27000000</valUSD>
        <pctVal>1.077949796373</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>
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      <invstOrSec>
        <name>KINDEN CORP</name>
        <lei>35380008T6JUN5TU9T34</lei>
        <title>Kinden Corp </title>
        <cusip>J33093105</cusip>
        <identifiers>
          <isin value="JP3263000006"/>
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        <balance>24900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.17300000"/>
        <valUSD>1109113.98000000</valUSD>
        <pctVal>0.656896305128</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>
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      <invstOrSec>
        <name>ASPEED TECHNOLOGY INC</name>
        <lei>N/A</lei>
        <title>ASPEED Technology, Inc. </title>
        <cusip>Y04044106</cusip>
        <identifiers>
          <isin value="TW0005274005"/>
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        <balance>2200.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="32.30300000"/>
        <valUSD>989227.01000000</valUSD>
        <pctVal>0.585890701514</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SEIWA HOLDINGS CO LTD</name>
        <lei>N/A</lei>
        <title>Seiwa Holdings Company Ltd. </title>
        <cusip>J70479100</cusip>
        <identifiers>
          <isin value="JP3418500009"/>
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        <balance>94900.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.17300000"/>
        <valUSD>846017.23000000</valUSD>
        <pctVal>0.501071668451</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MA FINANCIAL GROUP LTD</name>
        <lei>N/A</lei>
        <title>MA Financial Group Ltd. </title>
        <cusip>Q57129100</cusip>
        <identifiers>
          <isin value="AU0000156218"/>
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        <balance>442352.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.42010000"/>
        <valUSD>1778628.21000000</valUSD>
        <pctVal>1.053430324037</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GABLER GROUP AG</name>
        <lei>391200E0ZR3VLW4EM351</lei>
        <title>Gabler Group A.G. </title>
        <cusip>D39293101</cusip>
        <identifiers>
          <isin value="DE000A421RZ9"/>
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        <balance>18638.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.86690000"/>
        <valUSD>816984.66000000</valUSD>
        <pctVal>0.483876512403</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>IMCD NV</name>
        <lei>724500NSJPNFJPDAUP02</lei>
        <title>IMCD N.V. </title>
        <cusip>N4447S106</cusip>
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          <isin value="NL0010801007"/>
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        <balance>11693.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.86690000"/>
        <valUSD>1278420.28000000</valUSD>
        <pctVal>0.757171556284</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>5N PLUS INC</name>
        <lei>5493005GU1NFX4YB2S73</lei>
        <title>5N Plus, Inc. </title>
        <cusip>33833X101</cusip>
        <identifiers>
          <isin value="CA33833X1015"/>
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        <balance>85300.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.40177000"/>
        <valUSD>1982546.35000000</valUSD>
        <pctVal>1.174205172367</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>R&amp;S GROUP HOLDING AG</name>
        <lei>549300BKHOM0Y2GJZJ41</lei>
        <title>R&amp;S Group Holding A.G. </title>
        <cusip>H9232B116</cusip>
        <identifiers>
          <isin value="CH1107979838"/>
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        <balance>39794.00000000</balance>
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        <currencyConditional curCd="CHF" exchangeRt="0.80837000"/>
        <valUSD>1029838.42000000</valUSD>
        <pctVal>0.609943671413</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TOKYO SEIMITSU CO LTD</name>
        <lei>N/A</lei>
        <title>Tokyo Seimitsu Company Ltd. </title>
        <cusip>J87903100</cusip>
        <identifiers>
          <isin value="JP3580200008"/>
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        <balance>14500.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.17300000"/>
        <valUSD>1563204.81000000</valUSD>
        <pctVal>0.925841241175</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>ATOSS SOFTWARE SE</name>
        <lei>529900Q9G9280ADNOA39</lei>
        <title>Atoss Software S.E. </title>
        <cusip>D0426N101</cusip>
        <identifiers>
          <isin value="DE0005104400"/>
        </identifiers>
        <balance>14733.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86690000"/>
        <valUSD>1430982.35000000</valUSD>
        <pctVal>0.847529681682</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MAREX GROUP LTD</name>
        <lei>254900V928MQRIAF8X79</lei>
        <title>Marex Group Ltd. </title>
        <cusip>G5T40M104</cusip>
        <identifiers>
          <isin value="BMG5T40M1045"/>
        </identifiers>
        <balance>39078.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2536943.76000000</valUSD>
        <pctVal>1.502558810288</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JAPAN ELEVATOR SERVICE HOLDINGS CO LTD</name>
        <lei>N/A</lei>
        <title>Japan Elevator Service Holdings Company Ltd. </title>
        <cusip>J2S19B100</cusip>
        <identifiers>
          <isin value="JP3389510003"/>
        </identifiers>
        <balance>333300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.17300000"/>
        <valUSD>3545054.12000000</valUSD>
        <pctVal>2.099633576801</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>SOFTCAT PLC</name>
        <lei>213800N42YZLR9GLVC42</lei>
        <title>Softcat plc </title>
        <cusip>G8251T108</cusip>
        <identifiers>
          <isin value="GB00BYZDVK82"/>
        </identifiers>
        <balance>49173.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74200000"/>
        <valUSD>1279028.17000000</valUSD>
        <pctVal>0.757531592044</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RASAN INFORMATION TECHNOLOGY COMPANY</name>
        <lei>N/A</lei>
        <title>Rasan Information Technology Company </title>
        <cusip>M8189E101</cusip>
        <identifiers>
          <isin value="SA162GIK1SH5"/>
        </identifiers>
        <balance>47860.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SAR" exchangeRt="3.75580000"/>
        <valUSD>1659133.07000000</valUSD>
        <pctVal>0.982656790061</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ROSEBANK INDUSTRIES PLC</name>
        <lei>2138005KFPHBAEW69F51</lei>
        <title>Rosebank Industries plc </title>
        <cusip>G7624N103</cusip>
        <identifiers>
          <isin value="JE00BSBJ5M88"/>
        </identifiers>
        <balance>1081899.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74200000"/>
        <valUSD>4899165.28000000</valUSD>
        <pctVal>2.901634663955</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHARM CARE CORP</name>
        <lei>N/A</lei>
        <title>Charm Care Corp KK </title>
        <cusip>J0625A102</cusip>
        <identifiers>
          <isin value="JP3512740006"/>
        </identifiers>
        <balance>117200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.17300000"/>
        <valUSD>999166.94000000</valUSD>
        <pctVal>0.591777836117</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>INVISIO AB</name>
        <lei>54930054EB7KX3MY2Q11</lei>
        <title>INVISIO A.B. </title>
        <cusip>W603RD108</cusip>
        <identifiers>
          <isin value="SE0001200015"/>
        </identifiers>
        <balance>38393.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.52140000"/>
        <valUSD>837908.86000000</valUSD>
        <pctVal>0.496269314149</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VIMIAN GROUP AB</name>
        <lei>549300OQ8R5TCAP0BS18</lei>
        <title>Vimian Group A.B. </title>
        <cusip>W981A4114</cusip>
        <identifiers>
          <isin value="SE0015961982"/>
        </identifiers>
        <balance>907794.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.52140000"/>
        <valUSD>3241644.72000000</valUSD>
        <pctVal>1.919932917180</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MARUWA CO LTD</name>
        <lei>3538009BXGIG8PFXNI29</lei>
        <title>Maruwa Company Ltd. </title>
        <cusip>J40573107</cusip>
        <identifiers>
          <isin value="JP3879250003"/>
        </identifiers>
        <balance>6100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.17300000"/>
        <valUSD>2128464.00000000</valUSD>
        <pctVal>1.260627998935</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>P-DUKE TECHNOLOGY CO LTD</name>
        <lei>N/A</lei>
        <title>P-Duke Technology Company Ltd. </title>
        <cusip>Y7083N107</cusip>
        <identifiers>
          <isin value="TW0008109000"/>
        </identifiers>
        <balance>264000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.30300000"/>
        <valUSD>968454.94000000</valUSD>
        <pctVal>0.573588001991</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DIPLOMA PLC</name>
        <lei>2138008OGI7VYG8FGR19</lei>
        <title>Diploma plc </title>
        <cusip>G27664112</cusip>
        <identifiers>
          <isin value="GB0001826634"/>
        </identifiers>
        <balance>49781.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74200000"/>
        <valUSD>4911009.70000000</valUSD>
        <pctVal>2.908649773199</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ACTION CONSTRUCTION EQUIPMENTS LTD</name>
        <lei>335800E2SPJUKN6OTB20</lei>
        <title>Action Construction Equipment Ltd. </title>
        <cusip>Y0010V102</cusip>
        <identifiers>
          <isin value="INE731H01025"/>
        </identifiers>
        <balance>114478.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="95.40180000"/>
        <valUSD>1284313.33000000</valUSD>
        <pctVal>0.760661840277</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KANDENKO CO LTD</name>
        <lei>35380080NSN7GCYZ3X14</lei>
        <title>KANDENKO CO., LTD. </title>
        <cusip>J29653102</cusip>
        <identifiers>
          <isin value="JP3230600003"/>
        </identifiers>
        <balance>18900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.17300000"/>
        <valUSD>637389.51000000</valUSD>
        <pctVal>0.377507471366</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>MOTHERSON SUMI WIRING INDIA LTD</name>
        <lei>335800Y5S92WUOZT3C60</lei>
        <title>Motherson Sumi Wiring India Ltd. </title>
        <cusip>Y613MV100</cusip>
        <identifiers>
          <isin value="INE0FS801015"/>
        </identifiers>
        <balance>2083323.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="95.40180000"/>
        <valUSD>886815.00000000</valUSD>
        <pctVal>0.525235014017</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SKELLERUP HOLDINGS LTD</name>
        <lei>N/A</lei>
        <title>Skellerup Holdings Ltd. </title>
        <cusip>Q8512S104</cusip>
        <identifiers>
          <isin value="NZSKXE0001S8"/>
        </identifiers>
        <balance>235775.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NZD" exchangeRt="1.69700000"/>
        <valUSD>965607.69000000</valUSD>
        <pctVal>0.571901657721</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NZ</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MELEXIS NV</name>
        <lei>549300QRPSGOJRPUFO80</lei>
        <title>Melexis N.V. </title>
        <cusip>B59283109</cusip>
        <identifiers>
          <isin value="BE0165385973"/>
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        <balance>50185.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86690000"/>
        <valUSD>3953899.53000000</valUSD>
        <pctVal>2.341780952130</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VIETNAM TECHNOLOGICAL AND COMMERCIAL JSB</name>
        <lei>5493001XNKHV3FNIUD50</lei>
        <title>Vietnam Technological &amp; Commercial Joint Stock Bank</title>
        <cusip>Y937GK104</cusip>
        <identifiers>
          <isin value="VN000000TCB8"/>
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        <balance>863246.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26296.00000000"/>
        <valUSD>950371.60000000</valUSD>
        <pctVal>0.562877759902</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SENSHU ELECTRIC COMPANY LTD</name>
        <lei>N/A</lei>
        <title>Senshu Electric Company Ltd. </title>
        <cusip>J7106L101</cusip>
        <identifiers>
          <isin value="JP3424400004"/>
        </identifiers>
        <balance>23000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.17300000"/>
        <valUSD>879985.93000000</valUSD>
        <pctVal>0.521190352304</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>IPD GROUP LTD</name>
        <lei>984500A59A3EAPEA7D69</lei>
        <title>IPD Group Ltd./Australia </title>
        <cusip>Q496BN109</cusip>
        <identifiers>
          <isin value="AU0000189318"/>
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        <balance>510250.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42010000"/>
        <valUSD>1735446.45000000</valUSD>
        <pctVal>1.027855009773</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASKER HEALTHCARE GROUP AB</name>
        <lei>636700RZEYK9TOWV8F05</lei>
        <title>Asker Healthcare Group A.B. </title>
        <cusip>W0767R108</cusip>
        <identifiers>
          <isin value="SE0024171458"/>
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        <balance>298949.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.52140000"/>
        <valUSD>2543204.68000000</valUSD>
        <pctVal>1.506266973099</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KOTOBUKI SPIRITS COMPANY LTD</name>
        <lei>N/A</lei>
        <title>Kotobuki Spirits Company Ltd. </title>
        <cusip>J36383107</cusip>
        <identifiers>
          <isin value="JP3299600001"/>
        </identifiers>
        <balance>108200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.17300000"/>
        <valUSD>1728638.65000000</valUSD>
        <pctVal>1.023822945669</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>COHORT PLC</name>
        <lei>213800WE61C73LZZNW11</lei>
        <title>Cohort plc </title>
        <cusip>G2372R109</cusip>
        <identifiers>
          <isin value="GB00B0YD2B94"/>
        </identifiers>
        <balance>76231.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74200000"/>
        <valUSD>1259558.03000000</valUSD>
        <pctVal>0.745999988208</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VIRBAC SA</name>
        <lei>969500QQ1X5XHG649644</lei>
        <title>Virbac S.A.CA </title>
        <cusip>F97900116</cusip>
        <identifiers>
          <isin value="FR0000031577"/>
        </identifiers>
        <balance>7818.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86690000"/>
        <valUSD>3043690.16000000</valUSD>
        <pctVal>1.802690125734</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AURAS TECHNOLOGY CO LTD</name>
        <lei>N/A</lei>
        <title>AURAS Technology Co. Ltd. </title>
        <cusip>Y0453L116</cusip>
        <identifiers>
          <isin value="TW0003324000"/>
        </identifiers>
        <balance>30000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.30300000"/>
        <valUSD>837693.09000000</valUSD>
        <pctVal>0.496141519785</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SILERGY CORP</name>
        <lei>875500ADUWHZZOWMOA47</lei>
        <title>Silergy Corporation </title>
        <cusip>G8190F102</cusip>
        <identifiers>
          <isin value="KYG8190F1028"/>
        </identifiers>
        <balance>237496.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.30300000"/>
        <valUSD>3036431.54000000</valUSD>
        <pctVal>1.798391053912</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HILL &amp; SMITH PLC</name>
        <lei>2138003A3ISGQZBOWI83</lei>
        <title>Hill &amp; Smith plc </title>
        <cusip>G45080101</cusip>
        <identifiers>
          <isin value="GB0004270301"/>
        </identifiers>
        <balance>43574.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74200000"/>
        <valUSD>1673664.42000000</valUSD>
        <pctVal>0.991263290651</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ADDLIFE AB</name>
        <lei>5493005T3M7CD7XWE013</lei>
        <title>AddLife A.B. </title>
        <cusip>W0R093258</cusip>
        <identifiers>
          <isin value="SE0014401378"/>
        </identifiers>
        <balance>64772.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.52140000"/>
        <valUSD>1099329.43000000</valUSD>
        <pctVal>0.651101197629</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REGIONAL SAB DE CV</name>
        <lei>N/A</lei>
        <title>Regional S.A.B. de C.V. </title>
        <cusip>P8008V109</cusip>
        <identifiers>
          <isin value="MX01R0000006"/>
        </identifiers>
        <balance>199500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="17.32230000"/>
        <valUSD>1641395.20000000</valUSD>
        <pctVal>0.972151159915</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTERPUMP GROUP SPA</name>
        <lei>815600C79D0F31F4D395</lei>
        <title>Interpump Group SpA </title>
        <cusip>T5513W107</cusip>
        <identifiers>
          <isin value="IT0001078911"/>
        </identifiers>
        <balance>110316.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86690000"/>
        <valUSD>4420784.22000000</valUSD>
        <pctVal>2.618303323422</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTEGRAL CORP</name>
        <lei>254900LBW5E2GUM0UK59</lei>
        <title>Integral Corporation </title>
        <cusip>J2401C104</cusip>
        <identifiers>
          <isin value="JP3152910000"/>
        </identifiers>
        <balance>57200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.17300000"/>
        <valUSD>1053276.62000000</valUSD>
        <pctVal>0.623825443040</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>
    <signature>
      <ncom:dateSigned>2026-09-29</ncom:dateSigned>
      <ncom:nameOfApplicant>Grandeur Peak Global Trust</ncom:nameOfApplicant>
      <ncom:signature>Grandeur Peak Global Trust</ncom:signature>
      <ncom:signerName>Sarah Criger</ncom:signerName>
      <ncom:title>VP, Fund Accounting</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
