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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>United States Treasury</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JPMorgan Securities LLC</name>
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        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <name>Korea Exchange (Futures Market)</name>
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        <name>HSBC Bank PLC</name>
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        <name>HSBC Bank PLC</name>
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        <name>ICE Futures Europe - Financial Products Division</name>
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        <name>New York Mercantile Exchange</name>
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        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>HSBC Bank PLC</counterpartyName>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <balance>1.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>ICE Futures Europe - Financial Products Division</name>
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              <indexBasketInfo>
                <indexName>ICF Three Month SONIA Index Futures</indexName>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <securityLending>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <invCountry>CL</invCountry>
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      <invstOrSec>
        <name>NatWest Markets PLC</name>
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        <assetCat>DFE</assetCat>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bills</title>
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          <isin value="US912797GB79"/>
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        <balance>5200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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          <couponKind>None</couponKind>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <title>Purchased PHP / Sold USD</title>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>Purchased USD / Sold KRW</title>
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      <invstOrSec>
        <name>London Metal Exchange</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
        <title>Future</title>
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        <name>HSBC Bank PLC</name>
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        <name>HSBC Bank PLC</name>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>HSBC Bank PLC</counterpartyName>
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        </derivativeInfo>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>South African Futures Exchange</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <cusip>000000000</cusip>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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        <securityLending>
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      <invstOrSec>
        <name>London Metal Exchange</name>
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        <title>Future</title>
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        <balance>-1.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <payOffProf>Short</payOffProf>
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        <securityLending>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>Purchased BRL / Sold USD</title>
        <cusip>000000000</cusip>
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        <balance>1.00000000</balance>
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        <currencyConditional curCd="BRL" exchangeRt="5.01540000"/>
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        <assetCat>DFE</assetCat>
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        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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              <counterpartyName>HSBC Bank PLC</counterpartyName>
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            <amtCurSold>35401.74000000</amtCurSold>
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        <securityLending>
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      <invstOrSec>
        <name>NatWest Markets PLC</name>
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        <title>Purchased PEN / Sold USD</title>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
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        <invCountry>PE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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        <securityLending>
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      <invstOrSec>
        <name>Chicago Board of Trade</name>
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        <title>Future</title>
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        <balance>-24.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-19579.24000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>Chicago Board of Trade</counterpartyName>
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            <payOffProf>Short</payOffProf>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>Purchased USD / Sold KRW</title>
        <cusip>000000000</cusip>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Citibank NA</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>Purchased BRL / Sold USD</title>
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        <assetCat>DFE</assetCat>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>Purchased USD / Sold EUR</title>
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      <invstOrSec>
        <name>Commodities Exchange Center</name>
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            <payOffProf>Long</payOffProf>
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              <indexBasketInfo>
                <indexName>COMEX Silver Futures</indexName>
                <indexIdentifier>SIK4 Comdty</indexIdentifier>
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      <invstOrSec>
        <name>London Metal Exchange</name>
        <lei>213800NB8G5VRT1DXC91</lei>
        <title>Future</title>
        <cusip>000000000</cusip>
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        <balance>1.00000000</balance>
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        <valUSD>3046.43000000</valUSD>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>ICE Futures Europe</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <securityLending>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <assetCat>DFE</assetCat>
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      <invstOrSec>
        <name>ASX Clear (Futures)</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <securityLending>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>Italian Derivatives Market</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>Citibank NA</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        </derivativeInfo>
        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>HSBC Bank PLC</counterpartyName>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>Purchased BRL / Sold USD</title>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="5.01540000"/>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>HSBC Bank PLC</counterpartyName>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <balance>1.00000000</balance>
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        <currencyConditional curCd="BRL" exchangeRt="5.01540000"/>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>HSBC Bank PLC</counterpartyName>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bills</title>
        <cusip>912797JS7</cusip>
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          <isin value="US912797JS77"/>
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        <balance>1200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-18</maturityDt>
          <couponKind>None</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Citibank NA</name>
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        <title>Purchased USD / Sold INR</title>
        <cusip>000000000</cusip>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="INR" exchangeRt="83.40464285"/>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Citibank NA</counterpartyName>
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            <amtCurSold>2500000.00000000</amtCurSold>
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            <unrealizedAppr>152.67000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>Purchased USD / Sold BRL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="24CMKBCK3XZ"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="5.01540000"/>
        <valUSD>-85.12000000</valUSD>
        <pctVal>-0.00023863250</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>HSBC Bank PLC</counterpartyName>
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            <amtCurSold>81565.00000000</amtCurSold>
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            <amtCurPur>16177.79000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2024-04-02</settlementDt>
            <unrealizedAppr>-85.12000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>Purchased PHP / Sold USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="24CGKBCPH99"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="PHP" exchangeRt="56.23216666"/>
        <valUSD>-635.26000000</valUSD>
        <pctVal>-0.00178094082</pctVal>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>HSBC Bank PLC</counterpartyName>
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            <amtCurSold>45093.80000000</amtCurSold>
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        <securityLending>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>Purchased USD / Sold KRW</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="24CLKBCPR7J"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="KRW" exchangeRt="1344.21750000"/>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>
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        <securityLending>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>Purchased BRL / Sold USD</title>
        <cusip>000000000</cusip>
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        <currencyConditional curCd="BRL" exchangeRt="5.01540000"/>
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        <assetCat>DFE</assetCat>
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        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <fwdDeriv derivCat="FWD">
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>Purchased BRL / Sold USD</title>
        <cusip>000000000</cusip>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <title>Purchased BRL / Sold USD</title>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>Purchased BRL / Sold USD</title>
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      <invstOrSec>
        <name>State Street Bank &amp; Trust Co.</name>
        <lei>571474TGEMMWANRLN572</lei>
        <title>Purchased USD / Sold GBP</title>
        <cusip>000000000</cusip>
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        <securityLending>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>ASX Clear (Futures)</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>FORWARDS JP MORGAN COC</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>ICE Futures U.S. Energy Division</name>
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      <invstOrSec>
        <name>Citibank NA</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>Citibank NA</name>
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        <name>HSBC Bank PLC</name>
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        <name>HSBC Bank PLC</name>
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        <name>ICE Futures U.S. Energy Division</name>
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      <invstOrSec>
        <name>NatWest Markets PLC</name>
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      <invstOrSec>
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        <name>ICE Futures Europe - Financial Products Division</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <name>HSBC Bank PLC</name>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>Citibank NA</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <derivativeInfo>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>New York Mercantile Exchange</name>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>Purchased USD / Sold PHP</title>
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              <counterpartyName>HSBC Bank PLC</counterpartyName>
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        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>ICE Futures U.S. Energy Division</name>
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        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
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        <assetCat>DFE</assetCat>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
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      <invstOrSec>
        <name>ICE Futures U.S., Inc.</name>
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      <invstOrSec>
        <name>London Metal Exchange</name>
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            <payOffProf>Long</payOffProf>
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      <invstOrSec>
        <name>Citibank NA</name>
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        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
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        <name>Citibank NA</name>
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      <invstOrSec>
        <name>ICE Futures U.S., Inc.</name>
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        <name>HSBC Bank PLC</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <name>HSBC Bank PLC</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <name>United States Treasury</name>
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        <name>HSBC Bank PLC</name>
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        <name>HSBC Bank PLC</name>
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        <name>HSBC Bank PLC</name>
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        <name>Singapore Exchange Derivatives Clearing Limited</name>
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        <name>New York Mercantile Exchange</name>
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        <name>Citibank NA</name>
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        <name>HSBC Bank PLC</name>
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        <name>HSBC Bank PLC</name>
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        <name>Osaka Exchange</name>
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        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>Hong Kong Futures Exchange Ltd.</name>
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      <invstOrSec>
        <name>Citibank NA</name>
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      <invstOrSec>
        <name>United States Treasury</name>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
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                <indexName>CME New Zealand Dollar Currency Futures</indexName>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <cusip>000000000</cusip>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
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      <invstOrSec>
        <name>Citibank NA</name>
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      <invstOrSec>
        <name>Korea Exchange (Futures Market)</name>
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      <invstOrSec>
        <name>Citibank NA</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <name>Eurex Deutschland</name>
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        <name>HSBC Bank PLC</name>
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        <name>HSBC Bank PLC</name>
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            <counterparties>
              <counterpartyName>HSBC Bank PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>50000000.00000000</amtCurSold>
            <curSold>CLP</curSold>
            <amtCurPur>51556.49000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2024-05-30</settlementDt>
            <unrealizedAppr>605.36000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>Purchased USD / Sold BRL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="24CGKBCPJC4"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="5.01540000"/>
        <valUSD>33.85000000</valUSD>
        <pctVal>0.000094897911</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>100000.00000000</amtCurSold>
            <curSold>BRL</curSold>
            <amtCurPur>19972.44000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2024-04-02</settlementDt>
            <unrealizedAppr>33.85000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>Purchased BRL / Sold USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="24CQKBCKK5H"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="5.03101718"/>
        <valUSD>-135.31000000</valUSD>
        <pctVal>-0.00037933933</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>20012.01000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>100000.00000000</amtCurPur>
            <curPur>BRL</curPur>
            <settlementDt>2024-05-03</settlementDt>
            <unrealizedAppr>-135.31000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Eurex Deutschland</name>
        <lei>529900LN3S50JPU47S06</lei>
        <title>Future</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Bloomberg Identifier" value="BBG01J7FRKM8"/>
        </identifiers>
        <balance>6.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592600"/>
        <valUSD>10515.40000000</valUSD>
        <pctVal>0.029479748698</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Eurex Deutschland</counterpartyName>
              <counterpartyLei>529900LN3S50JPU47S06</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Euro-BTP Italian Bond Futures</indexName>
                <indexIdentifier>IKM4 Comdty</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2024-06-06</expDate>
            <notionalAmt>704323.52000000</notionalAmt>
            <curCd>EUR</curCd>
            <unrealizedAppr>10515.40000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>Purchased BRL / Sold USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="24BLKBCGQNK"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="5.01540000"/>
        <valUSD>-83.30000000</valUSD>
        <pctVal>-0.00023353016</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>20021.89000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>100000.00000000</amtCurPur>
            <curPur>BRL</curPur>
            <settlementDt>2024-04-02</settlementDt>
            <unrealizedAppr>-83.30000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ICE Futures Europe</name>
        <lei>549300UF4R84F48NCH34</lei>
        <title>Future</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Bloomberg Identifier" value="BBG00H2MTRJ0"/>
        </identifiers>
        <balance>8.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>21569.60000000</valUSD>
        <pctVal>0.060470014220</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>ICE Futures Europe</counterpartyName>
              <counterpartyLei>549300UF4R84F48NCH34</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>ICE Brent Crude Oil Futures</indexName>
                <indexIdentifier>COM4 Comdty</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2024-04-30</expDate>
            <notionalAmt>674430.40000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>21569.60000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>Purchased BRL / Sold USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="24CPKBCHCL3"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="5.03101718"/>
        <valUSD>-112.11000000</valUSD>
        <pctVal>-0.00031429851</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>19988.81000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>100000.00000000</amtCurPur>
            <curPur>BRL</curPur>
            <settlementDt>2024-05-03</settlementDt>
            <unrealizedAppr>-112.11000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>Purchased BRL / Sold USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="24CEKBCHLHG"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="5.01540000"/>
        <valUSD>-285.90000000</valUSD>
        <pctVal>-0.00080151588</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>20224.49000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>100000.00000000</amtCurPur>
            <curPur>BRL</curPur>
            <settlementDt>2024-04-02</settlementDt>
            <unrealizedAppr>-285.90000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>Purchased USD / Sold BRL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="24CNKBCGLMN"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="5.03101718"/>
        <valUSD>13.11000000</valUSD>
        <pctVal>0.000036753666</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>100000.00000000</amtCurSold>
            <curSold>BRL</curSold>
            <amtCurPur>19889.81000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2024-05-03</settlementDt>
            <unrealizedAppr>13.11000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>Purchased USD / Sold CNY</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="24CPKBCHCH5"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CNY" exchangeRt="7.21147500"/>
        <valUSD>747.07000000</valUSD>
        <pctVal>0.002094398297</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>500000.00000000</amtCurSold>
            <curSold>CNY</curSold>
            <amtCurPur>70081.01000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2024-04-24</settlementDt>
            <unrealizedAppr>747.07000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>Purchased USD / Sold KRW</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="24CNKBCGLJJ"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="KRW" exchangeRt="1344.21750000"/>
        <valUSD>51.34000000</valUSD>
        <pctVal>0.000143930834</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>13517832.00000000</amtCurSold>
            <curSold>KRW</curSold>
            <amtCurPur>10107.62000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2024-04-29</settlementDt>
            <unrealizedAppr>51.34000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bills</title>
        <cusip>912796Y45</cusip>
        <identifiers>
          <isin value="US912796Y452"/>
        </identifiers>
        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2468477.60000000</valUSD>
        <pctVal>6.920335823280</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-27</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>Purchased USD / Sold KRW</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="24CDKBCH24C"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="KRW" exchangeRt="1344.21750000"/>
        <valUSD>616.23000000</valUSD>
        <pctVal>0.001727590537</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>100000000.00000000</amtCurSold>
            <curSold>KRW</curSold>
            <amtCurPur>75008.95000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2024-04-29</settlementDt>
            <unrealizedAppr>616.23000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Please see notes to financial statements or N-PORT part F for a glossary of swap paid and received terms." noteItem="C.11.a"/>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2024-04-29</ncom:dateSigned>
      <ncom:nameOfApplicant>AMERICAN BEACON FUNDS</ncom:nameOfApplicant>
      <ncom:signature>Sonia Bates</ncom:signature>
      <ncom:signerName>Sonia Bates</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
