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        <pctVal>1.721263514444</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>IMCD NV</name>
        <lei>724500NSJPNFJPDAUP02</lei>
        <title>IMCD N.V. </title>
        <cusip>N4447S106</cusip>
        <identifiers>
          <isin value="NL0010801007"/>
        </identifiers>
        <balance>203954.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88200000"/>
        <valUSD>27020436.39000000</valUSD>
        <pctVal>1.822804955123</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lululemon Athletica Inc.</name>
        <lei>549300D9GZ4BMLDW5T40</lei>
        <title>Lululemon Athletica, Inc. </title>
        <cusip>550021109</cusip>
        <identifiers>
          <isin value="US5500211090"/>
        </identifiers>
        <balance>79477.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21519987.29000000</valUSD>
        <pctVal>1.451743373060</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>EO Technics Co</name>
        <lei>N/A</lei>
        <title>Eo Technics Co Ltd </title>
        <cusip>Y2297V102</cusip>
        <identifiers>
          <isin value="KR7039030002"/>
        </identifiers>
        <balance>87537.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1423.26000000"/>
        <valUSD>7091477.38000000</valUSD>
        <pctVal>0.478392721747</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>Melexis NV</name>
        <lei>549300QRPSGOJRPUFO80</lei>
        <title>Melexis NV </title>
        <cusip>B59283109</cusip>
        <identifiers>
          <isin value="BE0165385973"/>
        </identifiers>
        <balance>424923.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88200000"/>
        <valUSD>25365301.53000000</valUSD>
        <pctVal>1.711149170565</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>Jeol Ltd</name>
        <lei>N/A</lei>
        <title>Jeol Ltd. </title>
        <cusip>J23317100</cusip>
        <identifiers>
          <isin value="JP3735000006"/>
        </identifiers>
        <balance>472550.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="142.92000000"/>
        <valUSD>15163128.32000000</valUSD>
        <pctVal>1.022908180975</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>Terravest Industries Inc</name>
        <lei>N/A</lei>
        <title>TerraVest Industries Inc </title>
        <cusip>88105G103</cusip>
        <identifiers>
          <isin value="CA88105G1037"/>
        </identifiers>
        <balance>99600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.37843000"/>
        <valUSD>10382481.52000000</valUSD>
        <pctVal>0.700404630331</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>Visional Inc.</name>
        <lei>N/A</lei>
        <title>Visional Inc </title>
        <cusip>J94590106</cusip>
        <identifiers>
          <isin value="JP3800270005"/>
        </identifiers>
        <balance>629501.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="142.92000000"/>
        <valUSD>38090712.62000000</valUSD>
        <pctVal>2.569608377368</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>Rakus Co Ltd.</name>
        <lei>N/A</lei>
        <title>Rakus Co Ltd </title>
        <cusip>J6S879103</cusip>
        <identifiers>
          <isin value="JP3967170006"/>
        </identifiers>
        <balance>1294100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="142.92000000"/>
        <valUSD>19508385.46000000</valUSD>
        <pctVal>1.316040243380</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>Elastic NV</name>
        <lei>2549003I48WHHH937I59</lei>
        <title>Elastic N.V. </title>
        <cusip>N14506104</cusip>
        <identifiers>
          <isin value="NL0013056914"/>
        </identifiers>
        <balance>88734.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7648870.80000000</valUSD>
        <pctVal>0.515994612155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Descartes Systems Group Inc.</name>
        <lei>875500NEPA7JI5EOMN45</lei>
        <title>Descartes Systems Group </title>
        <cusip>249906108</cusip>
        <identifiers>
          <isin value="CA2499061083"/>
        </identifiers>
        <balance>137827.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.37843000"/>
        <valUSD>14516314.84000000</valUSD>
        <pctVal>0.979273992416</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>Bajaj Finance Ltd.</name>
        <lei>335800YTEXC3DO4Z6F68</lei>
        <title>Bajaj Finance Ltd </title>
        <cusip>Y05473122</cusip>
        <identifiers>
          <isin value="INE296A01024"/>
        </identifiers>
        <balance>112525.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.59240000"/>
        <valUSD>11485631.24000000</valUSD>
        <pctVal>0.774823368313</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>Chroma Ate Inc</name>
        <lei>N/A</lei>
        <title>Chroma Ate Inc </title>
        <cusip>Y1604M102</cusip>
        <identifiers>
          <isin value="TW0002360005"/>
        </identifiers>
        <balance>801000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.06000000"/>
        <valUSD>7307938.24000000</valUSD>
        <pctVal>0.492995221962</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>Jubilant FoodWorks Ltd.</name>
        <lei>9845000D3B99893F5B14</lei>
        <title>Jubilant Foodworks Ltd </title>
        <cusip>Y4S67Z115</cusip>
        <identifiers>
          <isin value="INE797F01020"/>
        </identifiers>
        <balance>911172.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.59240000"/>
        <valUSD>7705803.94000000</valUSD>
        <pctVal>0.519835335088</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>NVent Electric PLC</name>
        <lei>N/A</lei>
        <title>nVent Electric PLC </title>
        <cusip>G6700G107</cusip>
        <identifiers>
          <isin value="IE00BDVJJQ56"/>
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        <balance>140338.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7705959.58000000</valUSD>
        <pctVal>0.519845834599</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>Apr Co. Ltd.</name>
        <lei>N/A</lei>
        <title>APR Corp/Korea </title>
        <cusip>Y0R9CJ118</cusip>
        <identifiers>
          <isin value="KR7278470000"/>
        </identifiers>
        <balance>120140.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1423.26000000"/>
        <valUSD>6356211.80000000</valUSD>
        <pctVal>0.428791533845</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>Virbac SA</name>
        <lei>969500QQ1X5XHG649644</lei>
        <title>Virbac SA </title>
        <cusip>F97900116</cusip>
        <identifiers>
          <isin value="FR0000031577"/>
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        <balance>61810.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88200000"/>
        <valUSD>21735115.08000000</valUSD>
        <pctVal>1.466255944062</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>Globant S.A</name>
        <lei>2221008DCMSPYS42DS88</lei>
        <title>Globant S.A. </title>
        <cusip>L44385109</cusip>
        <identifiers>
          <isin value="LU0974299876"/>
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        <balance>61998.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7289104.86000000</valUSD>
        <pctVal>0.491724717745</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>Halma PLC</name>
        <lei>2138007FRGLUR9KGBT40</lei>
        <title>Halma plc </title>
        <cusip>G42504103</cusip>
        <identifiers>
          <isin value="GB0004052071"/>
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        <balance>711721.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75029000"/>
        <valUSD>26143265.62000000</valUSD>
        <pctVal>1.763630809932</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>Hill &amp; Smith PLC</name>
        <lei>2138003A3ISGQZBOWI83</lei>
        <title>Hill &amp; Smith Holdings PLC </title>
        <cusip>G45080101</cusip>
        <identifiers>
          <isin value="GB0004270301"/>
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        <balance>454196.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75029000"/>
        <valUSD>10835954.63000000</valUSD>
        <pctVal>0.730996032335</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>HPSP Co Ltd.</name>
        <lei>N/A</lei>
        <title>HPSP Co Ltd </title>
        <cusip>Y3R2Z4107</cusip>
        <identifiers>
          <isin value="KR7403870009"/>
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        <balance>628901.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1423.26000000"/>
        <valUSD>9920062.01000000</valUSD>
        <pctVal>0.669209702092</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>Frontken Corporation Berhad</name>
        <lei>N/A</lei>
        <title>Frontken Corporation Bhd. </title>
        <cusip>Y26510100</cusip>
        <identifiers>
          <isin value="MYQ0128OO007"/>
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        <balance>5048900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.31500000"/>
        <valUSD>4095283.89000000</valUSD>
        <pctVal>0.276268808526</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kinaxis Inc</name>
        <lei>5299009VAZ14K7PFUQ15</lei>
        <title>Kinaxis Inc. </title>
        <cusip>49448Q109</cusip>
        <identifiers>
          <isin value="CA49448Q1090"/>
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        <balance>72823.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.37843000"/>
        <valUSD>9834377.84000000</valUSD>
        <pctVal>0.663429427954</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>Bruker Corporation</name>
        <lei>LEBZ6VLQ6I8XB1NHVY15</lei>
        <title>Bruker Corporation </title>
        <cusip>116794108</cusip>
        <identifiers>
          <isin value="US1167941087"/>
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        <balance>320155.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12825409.30000000</valUSD>
        <pctVal>0.865205109425</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>ATOSS Software SE</name>
        <lei>529900Q9G9280ADNOA39</lei>
        <title>Atoss Software AG </title>
        <cusip>D0426N101</cusip>
        <identifiers>
          <isin value="DE0005104400"/>
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        <balance>97498.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88200000"/>
        <valUSD>14613645.80000000</valUSD>
        <pctVal>0.985839961730</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>Baltic Classifieds Group PLC</name>
        <lei>213800I1RPHCFSSQS969</lei>
        <title>Baltic Classifieds Group </title>
        <cusip>G07167102</cusip>
        <identifiers>
          <isin value="GB00BN44P254"/>
        </identifiers>
        <balance>2528667.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75029000"/>
        <valUSD>11458859.64000000</valUSD>
        <pctVal>0.773017349918</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>PB Fintech Ltd.</name>
        <lei>98450083AC6B01HF1F87</lei>
        <title>PB Fintech Ltd </title>
        <cusip>Y67616287</cusip>
        <identifiers>
          <isin value="INE417T01026"/>
        </identifiers>
        <balance>443076.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.59240000"/>
        <valUSD>8512956.52000000</valUSD>
        <pctVal>0.574286036814</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>Azelis Group Nv</name>
        <lei>699400M9RRMTV264FM70</lei>
        <title>Azelis Group N.V. </title>
        <cusip>B0R5SJ106</cusip>
        <identifiers>
          <isin value="BE0974400328"/>
        </identifiers>
        <balance>707542.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88200000"/>
        <valUSD>10942032.74000000</valUSD>
        <pctVal>0.738152086432</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>Aixtron SE</name>
        <lei>5299004UJ4D51M25LD67</lei>
        <title>AIXTRON SE </title>
        <cusip>D0257Y135</cusip>
        <identifiers>
          <isin value="DE000A0WMPJ6"/>
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        <balance>430838.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88200000"/>
        <valUSD>5771372.98000000</valUSD>
        <pctVal>0.389338170337</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>4imprint Group PLC</name>
        <lei>213800G95T751RN2CT94</lei>
        <title>4Imprint Group </title>
        <cusip>G36555103</cusip>
        <identifiers>
          <isin value="GB0006640972"/>
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        <balance>215357.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75029000"/>
        <valUSD>9759077.16000000</valUSD>
        <pctVal>0.658349626479</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>Hemnet Group Ab</name>
        <lei>5493008VIU67J3HUAR07</lei>
        <title>Hemnet Group AB </title>
        <cusip>W3995N162</cusip>
        <identifiers>
          <isin value="SE0015671995"/>
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        <balance>186799.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.66468000"/>
        <valUSD>6397570.22000000</valUSD>
        <pctVal>0.431581582526</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>Redcare Pharmacy N.V</name>
        <lei>529900JK6UXHY1YKZ082</lei>
        <title>Redcare Pharmacy N.V. </title>
        <cusip>N7975Z103</cusip>
        <identifiers>
          <isin value="NL0012044747"/>
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        <balance>96224.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88200000"/>
        <valUSD>14302682.99000000</valUSD>
        <pctVal>0.964862337877</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Icon PLC</name>
        <lei>6354008SRQGEMC4XFI67</lei>
        <title>ICON plc </title>
        <cusip>G4705A100</cusip>
        <identifiers>
          <isin value="IE0005711209"/>
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        <balance>109295.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16551634.80000000</valUSD>
        <pctVal>1.116577152691</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>Interpump Group S.p.A.</name>
        <lei>815600C79D0F31F4D395</lei>
        <title>Interpump Group SpA </title>
        <cusip>T5513W107</cusip>
        <identifiers>
          <isin value="IT0001078911"/>
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        <balance>446610.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88200000"/>
        <valUSD>15231325.17000000</valUSD>
        <pctVal>1.027508756418</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>JFrog Ltd</name>
        <lei>N/A</lei>
        <title>JFrog Ltd. </title>
        <cusip>M6191J100</cusip>
        <identifiers>
          <isin value="IL0011684185"/>
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        <balance>752877.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25424656.29000000</valUSD>
        <pctVal>1.715153256550</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BELIMO Holding AG</name>
        <lei>506700339DLX749VEM23</lei>
        <title>Belimo Holding AG </title>
        <cusip>H07171129</cusip>
        <identifiers>
          <isin value="CH1101098163"/>
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        <balance>9449.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.82529000"/>
        <valUSD>7991617.49000000</valUSD>
        <pctVal>0.539116383983</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Devyani International Ltd.</name>
        <lei>335800QL2YIWJ1DFK350</lei>
        <title>Devyani International Ltd </title>
        <cusip>Y2R58Y114</cusip>
        <identifiers>
          <isin value="INE872J01023"/>
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        <balance>3593257.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.59240000"/>
        <valUSD>7588570.17000000</valUSD>
        <pctVal>0.511926717560</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>Asia Commercial Bk</name>
        <lei>5493001VSLUXY7LJS086</lei>
        <title>Asia Commercial Bank JSC </title>
        <cusip>Y0324N101</cusip>
        <identifiers>
          <isin value="VN000000ACB8"/>
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        <balance>10058950.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="25985.00000000"/>
        <valUSD>9309899.85000000</valUSD>
        <pctVal>0.628048020148</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>Aritzia Inc</name>
        <lei>549300U83HKFRL1EX527</lei>
        <title>Aritzia Inc </title>
        <cusip>04045U102</cusip>
        <identifiers>
          <isin value="CA04045U1021"/>
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        <balance>335019.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.37843000"/>
        <valUSD>11785198.60000000</valUSD>
        <pctVal>0.795032252445</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>SCHOTT Pharma AG &amp; Co KGaA</name>
        <lei>529900TU48UE99NHEY88</lei>
        <title>Schott Pharma AG &amp; Co </title>
        <cusip>D6T79R108</cusip>
        <identifiers>
          <isin value="DE000A3ENQ51"/>
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        <balance>438339.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88200000"/>
        <valUSD>12300329.08000000</valUSD>
        <pctVal>0.829783075041</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>Voltronic Power Technology Corp.</name>
        <lei>N/A</lei>
        <title>Voltronic Power Technology </title>
        <cusip>Y937BE103</cusip>
        <identifiers>
          <isin value="TW0006409006"/>
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        <balance>677490.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.06000000"/>
        <valUSD>31697910.17000000</valUSD>
        <pctVal>2.138348429720</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>ASM International N.V.</name>
        <lei>7245001I22ND6ZFHX623</lei>
        <title>ASM International NV </title>
        <cusip>N07045201</cusip>
        <identifiers>
          <isin value="NL0000334118"/>
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        <balance>20306.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88200000"/>
        <valUSD>9791543.99000000</valUSD>
        <pctVal>0.660539846420</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</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"/>
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        <balance>267962.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75029000"/>
        <valUSD>5967885.78000000</valUSD>
        <pctVal>0.402594969762</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>Lagercrantz Group AB</name>
        <lei>5493002L6I4YHANEYR87</lei>
        <title>Lagercrantz Group AB </title>
        <cusip>W5303A147</cusip>
        <identifiers>
          <isin value="SE0014990966"/>
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        <balance>671261.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.66468000"/>
        <valUSD>15224550.76000000</valUSD>
        <pctVal>1.027051753136</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>
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      </invstOrSec>
      <invstOrSec>
        <name>B&amp;M European Value Retail SA</name>
        <lei>213800UK7ZRLY2K1X530</lei>
        <title>B &amp; M European Value Retail SA </title>
        <cusip>L1175H106</cusip>
        <identifiers>
          <isin value="LU1072616219"/>
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        <balance>13849087.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75029000"/>
        <valUSD>62093761.97000000</valUSD>
        <pctVal>4.188859697434</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>Eurofins Scientific SE</name>
        <lei>529900JEHFM47DYY3S57</lei>
        <title>Eurofins Scientific </title>
        <cusip>L31839134</cusip>
        <identifiers>
          <isin value="FR0014000MR3"/>
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        <balance>373128.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88200000"/>
        <valUSD>23470681.90000000</valUSD>
        <pctVal>1.583337687442</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>Roko AB</name>
        <lei>549300X76X1DK285JB13</lei>
        <title>Roko AB </title>
        <cusip>W72732113</cusip>
        <identifiers>
          <isin value="SE0023950795"/>
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        <balance>63173.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.66468000"/>
        <valUSD>13324617.11000000</valUSD>
        <pctVal>0.898881784981</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>Pinnacle Investment Management Group Ltd.</name>
        <lei>N/A</lei>
        <title>Pinnacle Investment Management Group </title>
        <cusip>Q75485104</cusip>
        <identifiers>
          <isin value="AU000000PNI7"/>
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        <balance>1544775.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.56110000"/>
        <valUSD>17890930.75000000</valUSD>
        <pctVal>1.206926370550</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>Dermapharm Holding SE</name>
        <lei>5299009F0KNZINQQQK37</lei>
        <title>Dermapharm Holding SE </title>
        <cusip>D1T0ZJ103</cusip>
        <identifiers>
          <isin value="DE000A2GS5D8"/>
        </identifiers>
        <balance>460437.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88200000"/>
        <valUSD>20098440.48000000</valUSD>
        <pctVal>1.355845492959</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>Sinbon Electronics Co., Ltd.</name>
        <lei>N/A</lei>
        <title>Sinbon Electronics Co., Limited </title>
        <cusip>Y7989R103</cusip>
        <identifiers>
          <isin value="TW0003023008"/>
        </identifiers>
        <balance>1082000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.06000000"/>
        <valUSD>7458577.67000000</valUSD>
        <pctVal>0.503157393123</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>Kongsberg Gruppen ASA</name>
        <lei>5967007LIEEXZXJ9HK73</lei>
        <title>Kongsberg Gruppen ASA </title>
        <cusip>R60837102</cusip>
        <identifiers>
          <isin value="NO0003043309"/>
        </identifiers>
        <balance>46234.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="10.40399000"/>
        <valUSD>7412378.52000000</valUSD>
        <pctVal>0.500040787664</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vitec Software Group AB</name>
        <lei>5493005EB5RV1QHE6H94</lei>
        <title>Vitec Software Group </title>
        <cusip>W9820M113</cusip>
        <identifiers>
          <isin value="SE0007871363"/>
        </identifiers>
        <balance>383016.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.66468000"/>
        <valUSD>17477045.90000000</valUSD>
        <pctVal>1.179005601820</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>Stantec Inc.</name>
        <lei>549300MZ7NGUZDCP2T16</lei>
        <title>Stantec, Inc. </title>
        <cusip>85472N109</cusip>
        <identifiers>
          <isin value="CA85472N1096"/>
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        <balance>113320.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.37843000"/>
        <valUSD>9947345.89000000</valUSD>
        <pctVal>0.671050279014</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>Beijer Ref AB</name>
        <lei>549300PZZEUVH08H4G75</lei>
        <title>Beijer Ref AB </title>
        <cusip>W14029123</cusip>
        <identifiers>
          <isin value="SE0015949748"/>
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        <balance>630101.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.66468000"/>
        <valUSD>9596889.62000000</valUSD>
        <pctVal>0.647408417118</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>Leeno Industrial</name>
        <lei>N/A</lei>
        <title>LEENO Industrial Inc. </title>
        <cusip>Y5254W104</cusip>
        <identifiers>
          <isin value="KR7058470006"/>
        </identifiers>
        <balance>558011.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1423.26000000"/>
        <valUSD>14153560.91000000</valUSD>
        <pctVal>0.954802527502</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>GCC, S.A.B. de C.V.</name>
        <lei>254900WY9XL8033CKX68</lei>
        <title>Grupo Cementos de Chihuahua, S.A.B. de C.V </title>
        <cusip>P4948S124</cusip>
        <identifiers>
          <isin value="MX01GC2M0006"/>
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        <balance>1722076.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="19.61010000"/>
        <valUSD>14470282.32000000</valUSD>
        <pctVal>0.976168627857</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASPEED Technology Inc.</name>
        <lei>N/A</lei>
        <title>ASPEED Technology, Inc. </title>
        <cusip>Y04044106</cusip>
        <identifiers>
          <isin value="TW0005274005"/>
        </identifiers>
        <balance>187145.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.06000000"/>
        <valUSD>17512008.73000000</valUSD>
        <pctVal>1.181364202504</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>Lifco AB</name>
        <lei>549300RTLL4VDQRCTW41</lei>
        <title>Lifco AB </title>
        <cusip>W5321L166</cusip>
        <identifiers>
          <isin value="SE0015949201"/>
        </identifiers>
        <balance>378525.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.66468000"/>
        <valUSD>14640178.98000000</valUSD>
        <pctVal>0.987629896255</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>Cyberark Software Ltd.</name>
        <lei>529900YEXNDM894PWS93</lei>
        <title>Cyberark Software LTD. </title>
        <cusip>M2682V108</cusip>
        <identifiers>
          <isin value="IL0011334468"/>
        </identifiers>
        <balance>67424.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23744035.84000000</valUSD>
        <pctVal>1.601778208133</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>Intermediate Capital Group PLC</name>
        <lei>549300OGASR5WRKJ8R68</lei>
        <title>Intermediate Capital Group PLC </title>
        <cusip>G4807D192</cusip>
        <identifiers>
          <isin value="GB00BYT1DJ19"/>
        </identifiers>
        <balance>582631.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75029000"/>
        <valUSD>14567910.49000000</valUSD>
        <pctVal>0.982754647026</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Xero Ltd.</name>
        <lei>254900UG5D8YST164N14</lei>
        <title>Xero Ltd </title>
        <cusip>Q98665104</cusip>
        <identifiers>
          <isin value="NZXROE0001S2"/>
        </identifiers>
        <balance>72570.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.56110000"/>
        <valUSD>7632610.53000000</valUSD>
        <pctVal>0.514897690540</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>Lumine Group Inc</name>
        <lei>984500E3C44B9D44M738</lei>
        <title>Lumine Group Inc. </title>
        <cusip>55027C106</cusip>
        <identifiers>
          <isin value="CA55027C1068"/>
        </identifiers>
        <balance>188300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.37843000"/>
        <valUSD>6088470.94000000</valUSD>
        <pctVal>0.410729672843</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>Maruwa Co Ltd</name>
        <lei>3538009BXGIG8PFXNI29</lei>
        <title>Maruwa Co Ltd/Aichi </title>
        <cusip>J40573107</cusip>
        <identifiers>
          <isin value="JP3879250003"/>
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        <balance>8300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="142.92000000"/>
        <valUSD>1687643.44000000</valUSD>
        <pctVal>0.113848820963</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>Japan Elevator Service Hldgs Co Ltd</name>
        <lei>N/A</lei>
        <title>Japan Elevator Service Holdings Company Ltd. </title>
        <cusip>J2S19B100</cusip>
        <identifiers>
          <isin value="JP3389510003"/>
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        <balance>1461716.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="142.92000000"/>
        <valUSD>31551874.20000000</valUSD>
        <pctVal>2.128496809047</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>Corporacion Inmobiliaria Vesta S A B De C V</name>
        <lei>4469000001BIRIFZJ959</lei>
        <title>Corp Inmobiliaria Vesta SAB de </title>
        <cusip>P9781N108</cusip>
        <identifiers>
          <isin value="MX01VE0M0003"/>
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        <balance>6601429.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="19.61010000"/>
        <valUSD>18050322.18000000</valUSD>
        <pctVal>1.217678953677</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>Vimian Group AB</name>
        <lei>549300OQ8R5TCAP0BS18</lei>
        <title>Vimian Group AB </title>
        <cusip>W981A4114</cusip>
        <identifiers>
          <isin value="SE0015961982"/>
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        <balance>2891546.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.66468000"/>
        <valUSD>11656323.04000000</valUSD>
        <pctVal>0.786338277041</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>BBB Foods Inc</name>
        <lei>N/A</lei>
        <title>BBB Foods Inc </title>
        <cusip>G0896C103</cusip>
        <identifiers>
          <isin value="VGG0896C1032"/>
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        <balance>642881.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19646443.36000000</valUSD>
        <pctVal>1.325353661586</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rainbow Childrens Medicare Ltd.</name>
        <lei>894500O094S259NC7H64</lei>
        <title>Rainbow Children's Medicare Lt </title>
        <cusip>Y2745K104</cusip>
        <identifiers>
          <isin value="INE961O01016"/>
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        <balance>335685.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.59240000"/>
        <valUSD>5482950.77000000</valUSD>
        <pctVal>0.369881140629</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>Marex Group Plc</name>
        <lei>549300DWX0SVICJAL507</lei>
        <title>Marex Group PLC </title>
        <cusip>G5S37H101</cusip>
        <identifiers>
          <isin value="GB00BMT7GT62"/>
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        <balance>534006.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23683166.10000000</valUSD>
        <pctVal>1.597671921244</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>Diploma PLC</name>
        <lei>2138008OGI7VYG8FGR19</lei>
        <title>Diploma plc </title>
        <cusip>G27664112</cusip>
        <identifiers>
          <isin value="GB0001826634"/>
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        <balance>749192.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75029000"/>
        <valUSD>39562018.74000000</valUSD>
        <pctVal>2.668863032154</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>Asker Healthcare Group AB</name>
        <lei>636700RZEYK9TOWV8F05</lei>
        <title>Asker Healthcare Group AB </title>
        <cusip>W0767R108</cusip>
        <identifiers>
          <isin value="SE0024171458"/>
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        <balance>279812.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.66468000"/>
        <valUSD>2475397.63000000</valUSD>
        <pctVal>0.166990902764</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>Tokyo Seimitsu Co Ltd</name>
        <lei>N/A</lei>
        <title>Tokyo Seimitsu Company Limited </title>
        <cusip>J87903100</cusip>
        <identifiers>
          <isin value="JP3580200008"/>
        </identifiers>
        <balance>151662.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="142.92000000"/>
        <valUSD>8457501.68000000</valUSD>
        <pctVal>0.570545040344</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>JTC PLC</name>
        <lei>213800DVUG4KLF2ASK33</lei>
        <title>JTC plc </title>
        <cusip>G5211H117</cusip>
        <identifiers>
          <isin value="JE00BF4X3P53"/>
        </identifiers>
        <balance>1939060.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75029000"/>
        <valUSD>21554012.98000000</valUSD>
        <pctVal>1.454038754062</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-06-27</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 Accouting</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
