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        <valUSD>8186679.77000000</valUSD>
        <pctVal>1.446707878272</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>KAMIGUMI CO LTD</name>
        <lei>N/A</lei>
        <title>KAMIGUMI CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3219000001"/>
        </identifiers>
        <balance>342000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>6064632.16000000</valUSD>
        <pctVal>1.071710555584</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>ELECOM CO LTD</name>
        <lei>353800BXFUVR7EPC0G35</lei>
        <title>ELECOM CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3168200008"/>
        </identifiers>
        <balance>193500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>7663187.81000000</valUSD>
        <pctVal>1.354199075678</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>HAGIHARA INDUSTRIES INC</name>
        <lei>N/A</lei>
        <title>HAGIHARA INDUSTRIES INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3765500008"/>
        </identifiers>
        <balance>323400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>4023100.22000000</valUSD>
        <pctVal>0.710941547351</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>BRIDGESTONE CORP</name>
        <lei>549300DHPOF90OYYD780</lei>
        <title>BRIDGESTONE CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3830800003"/>
        </identifiers>
        <balance>184900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>5755440.04000000</valUSD>
        <pctVal>1.017071716827</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JM HOLDINGS CO LTD</name>
        <lei>N/A</lei>
        <title>JM HOLDINGS CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3389690003"/>
        </identifiers>
        <balance>352400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>8669207.47000000</valUSD>
        <pctVal>1.531977687851</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>DENYO CO LTD</name>
        <lei>N/A</lei>
        <title>DENYO CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3551600004"/>
        </identifiers>
        <balance>162600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>3084877.23000000</valUSD>
        <pctVal>0.545143613470</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>YAMADA CONSULTING GROUP CO LTD</name>
        <lei>N/A</lei>
        <title>YAMADA CONSULTING GROUP CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3588100002"/>
        </identifiers>
        <balance>752700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>7904700.18000000</valUSD>
        <pctVal>1.396877897642</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>FIDELITY REVERE STREET TRUST</name>
        <lei>549300BDV45LJNXBZC55</lei>
        <title>Fidelity Securities Lending Cash Central Fund</title>
        <cusip>31635A303</cusip>
        <identifiers>
          <isin value="US31635A3032"/>
        </identifiers>
        <balance>4444610.59600000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4445055.06000000</valUSD>
        <pctVal>0.785507233130</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="4445055.06000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PALTAC CORPORATION</name>
        <lei>N/A</lei>
        <title>PALTAC CORPORATION</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3782200004"/>
        </identifiers>
        <balance>161000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>8461445.28000000</valUSD>
        <pctVal>1.495263023845</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>MEIJI HOLDINGS CO LTD</name>
        <lei>5299002D52YIP6DWMV49</lei>
        <title>MEIJI HOLDINGS CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3918000005"/>
        </identifiers>
        <balance>105000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>7292646.06000000</valUSD>
        <pctVal>1.288718846328</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PERSOL HOLDINGS CO LTD</name>
        <lei>N/A</lei>
        <title>PERSOL HOLDINGS CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3547670004"/>
        </identifiers>
        <balance>470000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>5522713.51000000</valUSD>
        <pctVal>0.975945483251</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>FIDELITY REVERE STREET TRUST</name>
        <lei>549300BDV45LJNXBZC55</lei>
        <title>Fidelity Cash Central Fund</title>
        <cusip>31635A105</cusip>
        <identifiers>
          <isin value="US31635A1051"/>
        </identifiers>
        <balance>22403637.42000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22410358.51000000</valUSD>
        <pctVal>3.960243117134</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KIRINDO HOLDINGS CO LTD</name>
        <lei>N/A</lei>
        <title>KIRINDO HOLDINGS CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3257900005"/>
        </identifiers>
        <balance>301100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>5945402.79000000</valUSD>
        <pctVal>1.050640955484</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>SAN A CO LTD</name>
        <lei>N/A</lei>
        <title>SAN A CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3324500002"/>
        </identifiers>
        <balance>179000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>7214042.77000000</valUSD>
        <pctVal>1.274828477815</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>TSUBAKIMOTO KOGYO CO LTD</name>
        <lei>N/A</lei>
        <title>TSUBAKIMOTO KOGYO CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3534600006"/>
        </identifiers>
        <balance>132000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>3991427.11000000</valUSD>
        <pctVal>0.705344438504</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>MORINAGA and CO LTD</name>
        <lei>N/A</lei>
        <title>MORINAGA and CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3926400007"/>
        </identifiers>
        <balance>214700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>8872892.89000000</valUSD>
        <pctVal>1.567971926063</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>MEDIKIT CO LTD</name>
        <lei>N/A</lei>
        <title>MEDIKIT CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3921060004"/>
        </identifiers>
        <balance>278200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>8930708.66000000</valUSD>
        <pctVal>1.578188831121</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>HAKUHODO DY HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>HAKUHODO DY HOLDINGS INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3766550002"/>
        </identifiers>
        <balance>350000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>3920234.82000000</valUSD>
        <pctVal>0.692763703736</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>LINTEC CORP</name>
        <lei>N/A</lei>
        <title>LINTEC CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3977200009"/>
        </identifiers>
        <balance>368000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>7941927.97000000</valUSD>
        <pctVal>1.403456600925</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>WORKMAN CO LTD</name>
        <lei>N/A</lei>
        <title>WORKMAN CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3990100004"/>
        </identifiers>
        <balance>90000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>5761543.12000000</valUSD>
        <pctVal>1.018150221687</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="3616968.75000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ISUZU MOTORS LTD</name>
        <lei>529900C0QSXVCC7AR494</lei>
        <title>ISUZU MOTORS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3137200006"/>
        </identifiers>
        <balance>901000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>6847200.16000000</valUSD>
        <pctVal>1.210001941431</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S FOODS INC</name>
        <lei>N/A</lei>
        <title>S FOODS INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3399300007"/>
        </identifiers>
        <balance>302700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>6467792.01000000</valUSD>
        <pctVal>1.142954887546</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>PRONEXUS INC</name>
        <lei>N/A</lei>
        <title>PRONEXUS INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3119000002"/>
        </identifiers>
        <balance>328323.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>3288889.95000000</valUSD>
        <pctVal>0.581195690452</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>SECOM JOSHINETSU CO LTD</name>
        <lei>N/A</lei>
        <title>SECOM JOSHINETSU CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3421850003"/>
        </identifiers>
        <balance>213000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>6668965.20000000</valUSD>
        <pctVal>1.178505177412</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>IDEMITSU KOSAN CO LTD</name>
        <lei>549300P0R46FF6DUA630</lei>
        <title>IDEMITSU KOSAN CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3142500002"/>
        </identifiers>
        <balance>272000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>6180658.80000000</valUSD>
        <pctVal>1.092214185736</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Z HOLDINGS COR</name>
        <lei>52990078MD2OL792YM35</lei>
        <title>Z HOLDINGS CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3933800009"/>
        </identifiers>
        <balance>2545000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>9821986.59000000</valUSD>
        <pctVal>1.735690875818</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TOKIO MARINE HOLDINGS INC</name>
        <lei>5299009QN2NZ191KLS29</lei>
        <title>TOKIO MARINE HOLDINGS INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3910660004"/>
        </identifiers>
        <balance>114500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>5371852.75000000</valUSD>
        <pctVal>0.949286146848</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AUCNET INC</name>
        <lei>2138008S9UYI8TYJ8H39</lei>
        <title>AUCNET INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3172060000"/>
        </identifiers>
        <balance>575000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>5840283.28000000</valUSD>
        <pctVal>1.032064777161</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>AEON DELIGHT CO LTD</name>
        <lei>N/A</lei>
        <title>AEON DELIGHT CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3389700000"/>
        </identifiers>
        <balance>178800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>5148320.37000000</valUSD>
        <pctVal>0.909784656100</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>MITANI CORP (SHOJI)</name>
        <lei>N/A</lei>
        <title>MITANI CORP (MITANI SHOJI)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3886800006"/>
        </identifiers>
        <balance>138100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>8107254.34000000</valUSD>
        <pctVal>1.432672225414</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>AIT CORP</name>
        <lei>N/A</lei>
        <title>AIT CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3160050005"/>
        </identifiers>
        <balance>703220.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>4894985.23000000</valUSD>
        <pctVal>0.865016575122</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>SHIONOGI and CO LTD</name>
        <lei>35380049VXDTHZI3DY35</lei>
        <title>SHIONOGI and CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3347200002"/>
        </identifiers>
        <balance>102000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>5633207.36000000</valUSD>
        <pctVal>0.995471387255</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ORIX CORP</name>
        <lei>35380016EMHNBOVYE123</lei>
        <title>ORIX CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3200450009"/>
        </identifiers>
        <balance>456800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>5486793.09000000</valUSD>
        <pctVal>0.969597811660</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>YUASA TRADING CO LTD</name>
        <lei>N/A</lei>
        <title>YUASA TRADING CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3945200008"/>
        </identifiers>
        <balance>305800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>8312152.08000000</valUSD>
        <pctVal>1.468880698571</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>DAIKYONISHIKAWA CORP</name>
        <lei>N/A</lei>
        <title>DAIKYONISHIKAWA KK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3481300006"/>
        </identifiers>
        <balance>748900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>3761422.91000000</valUSD>
        <pctVal>0.664699281063</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>FUNAI SOKEN HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>FUNAI SOKEN HOLDINGS INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3825800000"/>
        </identifiers>
        <balance>161480.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>3484952.52000000</valUSD>
        <pctVal>0.615842857878</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>MITSUBISHI UFJ FIN GRP INC</name>
        <lei>353800V2V8PUY9TK3E06</lei>
        <title>MITSUBISHI UFJ FINL GRP INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3902900004"/>
        </identifiers>
        <balance>724600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>2927384.38000000</valUSD>
        <pctVal>0.517312288285</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUMITOMO ELECTRIC INDS LTD</name>
        <lei>5493005SP87FL5TOS202</lei>
        <title>SUMITOMO ELECTRIC INDS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3407400005"/>
        </identifiers>
        <balance>789500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>8122732.50000000</valUSD>
        <pctVal>1.435407446119</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FUJI CORP(7605)</name>
        <lei>N/A</lei>
        <title>FUJI CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3812300006"/>
        </identifiers>
        <balance>340600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>5668467.60000000</valUSD>
        <pctVal>1.001702395237</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>SHINSEI BANK LTD</name>
        <lei>549300PZYOQ2NW83V760</lei>
        <title>SHINSEI BANK LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3729000004"/>
        </identifiers>
        <balance>533300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>6433158.85000000</valUSD>
        <pctVal>1.136834693910</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CENTURY21 REAL ESTATE JPN LTD</name>
        <lei>N/A</lei>
        <title>CENTURY21 REAL ESTATE JPN LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3424880007"/>
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        <balance>415400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>4497924.80000000</valUSD>
        <pctVal>0.794850101244</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>KAWASAKI HEAVY INDUSTRIES LTD</name>
        <lei>5493008FFSI8SQ74AT93</lei>
        <title>KAWASAKI HEAVY INDUSTRIES LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3224200000"/>
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        <balance>255000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>3853066.00000000</valUSD>
        <pctVal>0.680893975861</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>T and D HOLDINGS INC</name>
        <lei>3538008ARJ1MACEWA242</lei>
        <title>T and D HOLDINGS INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3539220008"/>
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        <balance>909000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>7857183.72000000</valUSD>
        <pctVal>1.388481033594</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>C UYEMURA and CO LTD</name>
        <lei>N/A</lei>
        <title>UYEMURA (C) and CO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3155350006"/>
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        <balance>131400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>7273130.50000000</valUSD>
        <pctVal>1.285270157092</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>GMO INTERNET INC</name>
        <lei>529900BFZEY3BESHBW90</lei>
        <title>GMO INTERNET INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3152750000"/>
        </identifiers>
        <balance>435000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>9562176.77000000</valUSD>
        <pctVal>1.689778622743</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>KOSHIDAKA HOLDINGS CO LTD</name>
        <lei>N/A</lei>
        <title>KOSHIDAKA HOLDINGS CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3297360004"/>
        </identifiers>
        <balance>817000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>3593383.96000000</valUSD>
        <pctVal>0.635004303410</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="431360.04000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>ISHARES INC</name>
        <lei>549300X7CW3B8850WA94</lei>
        <title>iShares MSCI Japan ETF</title>
        <cusip>46434G822</cusip>
        <identifiers>
          <isin value="US46434G8226"/>
        </identifiers>
        <balance>173500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8980360.00000000</valUSD>
        <pctVal>1.586962960165</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="315736.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SEKISUI JUSHI CORP</name>
        <lei>N/A</lei>
        <title>SEKISUI JUSHI CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3420200002"/>
        </identifiers>
        <balance>496300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>10174346.55000000</valUSD>
        <pctVal>1.797958112896</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>SK KAKEN CO LTD</name>
        <lei>N/A</lei>
        <title>SK KAKEN CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3162650000"/>
        </identifiers>
        <balance>26100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>9971579.00000000</valUSD>
        <pctVal>1.762126075943</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>AMANO CORP</name>
        <lei>N/A</lei>
        <title>AMANO CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3124400007"/>
        </identifiers>
        <balance>450200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>9288010.06000000</valUSD>
        <pctVal>1.641329294021</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>ORACLE CORPORATION JAPAN</name>
        <lei>529900MIMKY9RU60Z323</lei>
        <title>ORACLE CORPORATION JAPAN</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3689500001"/>
        </identifiers>
        <balance>76200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>7895857.99000000</valUSD>
        <pctVal>1.395315351372</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>NIHON PARKERIZING CO LTD</name>
        <lei>N/A</lei>
        <title>NIHON PARKERIZING CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3744600002"/>
        </identifiers>
        <balance>530000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>5457298.61000000</valUSD>
        <pctVal>0.964385699084</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>PARAMOUNT BED HOLDINGS CO LTD</name>
        <lei>N/A</lei>
        <title>PARAMOUNT BED HOLDINGS CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3781620004"/>
        </identifiers>
        <balance>168900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>7019466.06000000</valUSD>
        <pctVal>1.240443883915</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>ARC LAND SAKAMOTO CO LTD</name>
        <lei>N/A</lei>
        <title>ARC LAND SAKAMOTO CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3100100001"/>
        </identifiers>
        <balance>588700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>5677719.80000000</valUSD>
        <pctVal>1.003337396362</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>NAGAILEBEN CO LTD</name>
        <lei>N/A</lei>
        <title>NAGAILEBEN CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3647000003"/>
        </identifiers>
        <balance>21500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>525103.67000000</valUSD>
        <pctVal>0.092793615683</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>TAIHEIYO CEMENT CORP</name>
        <lei>N/A</lei>
        <title>TAIHEIYO CEMENT CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3449020001"/>
        </identifiers>
        <balance>343500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>6743200.54000000</valUSD>
        <pctVal>1.191623664301</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RICOH LEASING CO LTD</name>
        <lei>N/A</lei>
        <title>RICOH LEASING CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3974100004"/>
        </identifiers>
        <balance>145000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>3898103.71000000</valUSD>
        <pctVal>0.688852807977</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>HOKURIKU ELEC CONST. CO LTD</name>
        <lei>N/A</lei>
        <title>HOKURIKU ELECTRIC CONSTRUCT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3845000003"/>
        </identifiers>
        <balance>674600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>6273594.56000000</valUSD>
        <pctVal>1.108637314519</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>JFE HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>JFE HOLDINGS INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3386030005"/>
        </identifiers>
        <balance>547000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>3629913.71000000</valUSD>
        <pctVal>0.641459652660</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KOTOBUKI SPIRITS CO LTD</name>
        <lei>N/A</lei>
        <title>KOTOBUKI SPIRITS CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3299600001"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>3974281.32000000</valUSD>
        <pctVal>0.702314522816</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>AS ONE CORPORATION</name>
        <lei>N/A</lei>
        <title>AS ONE CORPORATION</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3131300000"/>
        </identifiers>
        <balance>70000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>6261939.15000000</valUSD>
        <pctVal>1.106577630502</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>NITORI HOLDINGS CO LTD</name>
        <lei>N/A</lei>
        <title>NITORI HOLDINGS CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3756100008"/>
        </identifiers>
        <balance>64600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>9944481.20000000</valUSD>
        <pctVal>1.757337492312</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>DEXERIALS CORP</name>
        <lei>N/A</lei>
        <title>DEXERIALS CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3548770001"/>
        </identifiers>
        <balance>906500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>6005884.55000000</valUSD>
        <pctVal>1.061328980561</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>KENEDIX INC</name>
        <lei>3538007XCHRIVYCBI985</lei>
        <title>KENEDIX INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3281630008"/>
        </identifiers>
        <balance>1390000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>6372641.29000000</valUSD>
        <pctVal>1.126140342441</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>MIRAIT HOLDINGS CORPORATION</name>
        <lei>353800RI3EZVEIDAEL62</lei>
        <title>MIRAIT HOLDINGS CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3910620008"/>
        </identifiers>
        <balance>315000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>4127009.27000000</valUSD>
        <pctVal>0.729303819417</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="1021.93000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INABA DENKISANGYO CO</name>
        <lei>N/A</lei>
        <title>INABA DENKISANGYO CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3146200005"/>
        </identifiers>
        <balance>461400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>9897430.93000000</valUSD>
        <pctVal>1.749023010959</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>CENTRAL AUTOMOTIVE PROD LTD</name>
        <lei>353800X9460YZVHWB065</lei>
        <title>CENTRAL AUTOMOTIVE PRODS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3515400004"/>
        </identifiers>
        <balance>845500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>14417975.12000000</valUSD>
        <pctVal>2.547870294289</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>SG HOLDINGS CO LTD</name>
        <lei>N/A</lei>
        <title>SG HOLDINGS CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3162770006"/>
        </identifiers>
        <balance>265000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>7388342.73000000</valUSD>
        <pctVal>1.305629868904</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>TKC CORP</name>
        <lei>N/A</lei>
        <title>TKC CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3539400006"/>
        </identifiers>
        <balance>202200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>10080324.28000000</valUSD>
        <pctVal>1.781342981663</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>ITOCHU CORPORATION</name>
        <lei>J48DJYXDTLHM30UMYI18</lei>
        <title>ITOCHU CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3143600009"/>
        </identifiers>
        <balance>345000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>6763764.86000000</valUSD>
        <pctVal>1.195257685002</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MITSUBISHI CHEM HLDGS CORP</name>
        <lei>353800YNKX4RQUGAR072</lei>
        <title>MITSUBISHI CHEMICAL HLDGS CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3897700005"/>
        </identifiers>
        <balance>1404800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>7984317.74000000</valUSD>
        <pctVal>1.410947502724</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AICHI ELECTRIC CO LTD</name>
        <lei>N/A</lei>
        <title>AICHI ELECTRIC CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3104000009"/>
        </identifiers>
        <balance>173100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>3219564.83000000</valUSD>
        <pctVal>0.568944912348</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>RENESAS ELECTRONICS CORP</name>
        <lei>5299000EPC47VJQOFB81</lei>
        <title>RENESAS ELECTRONICS CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3164720009"/>
        </identifiers>
        <balance>1635000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>8836602.53000000</valUSD>
        <pctVal>1.561558880580</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>OTSUKA CORPORATION</name>
        <lei>529900RG9DJ58J3UIE72</lei>
        <title>OTSUKA CORPORATION</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3188200004"/>
        </identifiers>
        <balance>192000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>8668312.91000000</valUSD>
        <pctVal>1.531819605816</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>NIPPON CONCEPT CORPORATION</name>
        <lei>N/A</lei>
        <title>NIPPON CONCEPT CORPORATION</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3708600006"/>
        </identifiers>
        <balance>645000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>8859246.14000000</valUSD>
        <pctVal>1.565560342699</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>SANTEN PHARMACEUTICAL CO LTD</name>
        <lei>529900TPT3I7C17MIM03</lei>
        <title>SANTEN PHARMACEUTICAL CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3336000009"/>
        </identifiers>
        <balance>495000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>8782369.66000000</valUSD>
        <pctVal>1.551975127155</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>SAN-AI OIL CO LTD</name>
        <lei>N/A</lei>
        <title>SAN-AI OIL CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3323600001"/>
        </identifiers>
        <balance>865800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>8882689.28000000</valUSD>
        <pctVal>1.569703093641</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>2020-05-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Stacie M. Smith</ncom:nameOfApplicant>
      <ncom:signature>Stacie M. Smith</ncom:signature>
      <ncom:signerName>Stacie M. Smith</ncom:signerName>
      <ncom:title>President and Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
