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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Endeavour Mining PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Nordson Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Pure Storage Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Morgan Stanley &amp; Co. LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Kingfisher PLC</name>
        <lei>213800KBMEV7I92FY281</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BOC Hong Kong Holdings Ltd</name>
        <lei>254900JB98W77JDJMW15</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cisco Systems Inc</name>
        <lei>549300LKFJ962MZ46593</lei>
        <title>Cisco Systems Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley &amp; Co. LLC</name>
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        <name>Goldman Sachs MarketBeta US Equity ETF</name>
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        <name>Salesforce Inc</name>
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        <name>Intuit Inc</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Imperial Brands PLC</name>
        <lei>549300DFVPOB67JL3A42</lei>
        <title>Imperial Brands PLC</title>
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        <name>Zebra Technologies Corp</name>
        <lei>PO0I32GKZ3HZMMDPZZ08</lei>
        <title>Zebra Technologies Corp</title>
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        <name>Warner Bros Discovery Inc</name>
        <lei>5493006ZCRFWKF6B1K26</lei>
        <title>Warner Bros Discovery Inc</title>
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        <name>Astera Labs Inc</name>
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        <name>Banco Comercial Portugues SA</name>
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        <name>Accenture PLC</name>
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        <name>United States Treasury</name>
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        <name>Western Digital Corp</name>
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        <name>MS&amp;AD Insurance Group Holdings Inc</name>
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        <name>Alnylam Pharmaceuticals Inc</name>
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        <name>Expeditors International of Washington Inc</name>
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        <name>Northern Trust Corp</name>
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        <name>News Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Chicago Mercantile Exchange</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Options Clearing Corp.</name>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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      <invstOrSec>
        <name>Nebius Group NV</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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      <invstOrSec>
        <name>BPER Banca SPA</name>
        <lei>N747OI7JINV7RUUH6190</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Continental AG</name>
        <lei>529900A7YD9C0LLXM621</lei>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
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        <name>Citibank NA</name>
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        <name>Deutsche Lufthansa AG</name>
        <lei>529900PH63HYJ86ASW55</lei>
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        <name>AbbVie Inc</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
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        <name>Tractor Supply Co</name>
        <lei>549300OJ9VZHZRO6I137</lei>
        <title>Tractor Supply Co</title>
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        <name>Seagate Technology Holdings PLC</name>
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        <name>Wesfarmers Ltd</name>
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        <name>Check Point Software Technologies Ltd</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Singapore Exchange Ltd</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chicago Mercantile Exchange</name>
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        <name>ICE Futures Europe</name>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
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      <invstOrSec>
        <name>Morgan Stanley &amp; Co. LLC</name>
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        <name>Olympus Corp</name>
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        <name>Options Clearing Corp.</name>
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        <name>Advantest Corp</name>
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        <name>Morgan Stanley &amp; Co. LLC</name>
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        <name>eBay Inc</name>
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        <name>EOG Resources Inc</name>
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        <name>Goldman Sachs MarketBeta Russell 1000 Value Equity ETF</name>
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        <name>Arch Capital Group Ltd</name>
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        <name>Sony Group Corp</name>
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        <name>Jeronimo Martins SGPS SA</name>
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        <name>HubSpot Inc</name>
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        <name>Snap-on Inc</name>
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        <name>Bank Leumi Le-Israel BM</name>
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        <name>Randstad NV</name>
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        <name>Citibank NA</name>
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        <name>Options Clearing Corp.</name>
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        <name>Options Clearing Corp.</name>
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        <name>Talanx AG</name>
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        <name>Moody's Corp</name>
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      <invstOrSec>
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        <name>Casey's General Stores Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Fox Corp</name>
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        <name>Buzzi SpA</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>GEA Group AG</name>
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        <name>Options Clearing Corp.</name>
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        <name>Citibank NA</name>
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        <name>Goldman Sachs MarketBeta International Equity ETF</name>
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        <name>Medtronic PLC</name>
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        <name>Next PLC</name>
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        <title>Next PLC</title>
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        <name>Corteva Inc</name>
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        <title>Corteva Inc</title>
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        <name>Advanced Micro Devices Inc</name>
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        <name>Japan Exchange Group</name>
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        <name>T&amp;D Holdings Inc</name>
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        <name>Morgan Stanley &amp; Co. LLC</name>
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        <name>PayPal Holdings Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Centene Corp</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Alphabet Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Avolta AG</name>
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        <name>Estee Lauder Cos Inc/The</name>
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        <name>Options Clearing Corp.</name>
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        <name>Cenovus Energy Inc</name>
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        <name>Genmab A/S</name>
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        <name>Visa Inc</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Ageas SA/NV</name>
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        <invCountry>BE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Pandora A/S</name>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>DK</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Roche Holding AG</name>
        <lei>549300U41AUUVOAAOB37</lei>
        <title>Roche Holding AG</title>
        <cusip>000000000</cusip>
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          <isin value="CH0012032048"/>
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        <balance>3760.00000000</balance>
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        <currencyConditional curCd="CHF" exchangeRt="0.76885000"/>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Woolworths Group Ltd</name>
        <lei>QNWEWQBS7HP85QHXQL92</lei>
        <title>Woolworths Group Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000WOW2"/>
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        <balance>15348.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.40518500"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Securitas AB</name>
        <lei>635400TTYKE8EIWDS617</lei>
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        <cusip>000000000</cusip>
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          <isin value="SE0000163594"/>
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        <balance>32114.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Boston Scientific Corp</name>
        <lei>Y6ZDD9FP4P8JSSJMW954</lei>
        <title>Boston Scientific Corp</title>
        <cusip>101137107</cusip>
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          <isin value="US1011371077"/>
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        <balance>5849.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>449495.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sampo Oyj</name>
        <lei>743700UF3RL386WIDA22</lei>
        <title>Sampo Oyj</title>
        <cusip>000000000</cusip>
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          <isin value="FI4000552500"/>
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        <balance>55950.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Zimmer Biomet Holdings Inc</name>
        <lei>2P2YLDVPES3BXQ1FRB91</lei>
        <title>Zimmer Biomet Holdings Inc</title>
        <cusip>98956P102</cusip>
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          <isin value="US98956P1021"/>
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        <balance>1189.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CONSTELLATION SOFTWARE INC</name>
        <lei>549300B6PYHMCTDWQV29</lei>
        <title>CONSTELLATION SOFTWARE INC</title>
        <cusip>000000000</cusip>
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          <isin value="CA21037X1345"/>
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        <balance>264.00000000</balance>
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        <assetCat>DE</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <derivativeInfo>
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              <counterpartyName>N/A</counterpartyName>
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            <putOrCall>Call</putOrCall>
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                <issuerName>Constellation Software, Inc.</issuerName>
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      <invstOrSec>
        <name>Otsuka Holdings Co Ltd</name>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Japan Exchange Group</name>
        <lei>353800578ADEGIJTVW07</lei>
        <title>NIKKEI 225</title>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Archer-Daniels-Midland Co</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Daikin Industries Ltd</name>
        <lei>549300Y7FWSTSHMW5Y57</lei>
        <title>Daikin Industries Ltd</title>
        <cusip>000000000</cusip>
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        <invCountry>JP</invCountry>
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      <invstOrSec>
        <name>ResMed Inc</name>
        <lei>529900T3QE5253CCXF22</lei>
        <title>ResMed Inc</title>
        <cusip>761152107</cusip>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Swedbank AB</name>
        <lei>M312WZV08Y7LYUC71685</lei>
        <title>Swedbank AB</title>
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      <invstOrSec>
        <name>Elevance Health Inc</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>Elevance Health Inc</title>
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      <invstOrSec>
        <name>Tokyo Gas Co Ltd</name>
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        <title>Tokyo Gas Co Ltd</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lam Research Corp</name>
        <lei>549300I4GMO6D34U1T02</lei>
        <title>Lam Research Corp</title>
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        <name>Chicago Mercantile Exchange</name>
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        <title>3 MONTH SOFR OPT JUN26C 96.5</title>
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        <name>NTT Inc</name>
        <lei>353800VHQU5VIXVUA841</lei>
        <title>NTT Inc</title>
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        <name>Options Clearing Corp.</name>
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        <name>Raymond James Financial Inc</name>
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        <name>3i Group PLC</name>
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        <name>Brenntag SE</name>
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        <name>Biogen Inc</name>
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        <name>Block Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
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        <name>Procter &amp; Gamble Co/The</name>
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        <name>Empire Co Ltd</name>
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        <name>TotalEnergies SE</name>
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        <name>Unibail-Rodamco-Westfield</name>
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        <name>ICE Futures Europe</name>
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        <name>CONTRA ABIOMED INC</name>
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      <invstOrSec>
        <name>State Street Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Lottery Corp Ltd/The</name>
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        <fairValLevel>2</fairValLevel>
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        <name>H &amp; M Hennes &amp; Mauritz AB</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NatWest Group PLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
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      <invstOrSec>
        <name>Medibank Pvt Ltd</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Power Corp of Canada</name>
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      <invstOrSec>
        <name>Lowe's Cos Inc</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>Lowe's Cos Inc</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>United Therapeutics Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Koninklijke Philips NV</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley &amp; Co. LLC</name>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
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        <name>United States Treasury</name>
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      <invstOrSec>
        <name>Morgan Stanley &amp; Co. LLC</name>
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      <invstOrSec>
        <name>Cummins Inc</name>
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        <title>Cummins Inc</title>
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        <name>Workday Inc</name>
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      <invstOrSec>
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        <name>Morgan Stanley &amp; Co. LLC</name>
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        <name>CDW Corp/DE</name>
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      <invstOrSec>
        <name>Fujikura Ltd</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Microsoft Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Suncor Energy Inc</name>
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      <invstOrSec>
        <name>Insulet Corp</name>
        <lei>549300TZTYD2PYN92D43</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Enel SpA</name>
        <lei>WOCMU6HCI0OJWNPRZS33</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Vertiv Holdings Co</name>
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        <name>Eurex Deutschland</name>
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      <invstOrSec>
        <name>Dollar Tree Inc</name>
        <lei>549300PMSTQITB1WHR43</lei>
        <title>Dollar Tree Inc</title>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
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        <name>ICE Futures Europe</name>
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        <name>Trane Technologies PLC</name>
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        <name>Newmont Corp</name>
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        <name>Morgan Stanley &amp; Co. LLC</name>
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        <name>Willis Towers Watson PLC</name>
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        <name>NVIDIA Corp</name>
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        <name>Monday.com Ltd</name>
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        <name>Best Buy Co Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Williams-Sonoma Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Chicago Mercantile Exchange</name>
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        <name>Adobe Inc</name>
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        <name>Japan Exchange Group</name>
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        <name>Japan Exchange Group</name>
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        <name>Take-Two Interactive Software Inc</name>
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        <name>AXA SA</name>
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        <name>SBI Holdings Inc</name>
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        <name>GSK PLC</name>
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        <name>Tsuruha Holdings Inc</name>
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        <name>Danske Bank A/S</name>
        <lei>MAES062Z21O4RZ2U7M96</lei>
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        <name>Smiths Group PLC</name>
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        <name>SITC International Holdings Co Ltd</name>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>O'Reilly Automotive Inc</name>
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        <name>W R Berkley Corp</name>
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        <name>Great-West Lifeco Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CVS Health Corp</name>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>EMCOR Group Inc</name>
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        <name>Illumina Inc</name>
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        <name>Bureau Veritas SA</name>
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        <name>Morgan Stanley &amp; Co. LLC</name>
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        <name>Options Clearing Corp.</name>
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        <name>Target Corp</name>
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      <invstOrSec>
        <name>Gartner Inc</name>
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        <name>Marsh &amp; McLennan Cos Inc</name>
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        <name>Walmart Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Astellas Pharma Inc</name>
        <lei>529900IB708DY2HBBB35</lei>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Coca-Cola Co/The</name>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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        <name>Japan Exchange Group</name>
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      <invstOrSec>
        <name>Fortinet Inc</name>
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        <name>GoDaddy Inc</name>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Smith &amp; Nephew PLC</name>
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        <name>Eisai Co Ltd</name>
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        <name>Chicago Mercantile Exchange</name>
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      <invstOrSec>
        <name>Japan Airlines Co Ltd</name>
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        <name>Techtronic Industries Co Ltd</name>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
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      <invstOrSec>
        <name>Airbnb Inc</name>
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        <name>Exxon Mobil Corp</name>
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      <invstOrSec>
        <name>ICE Futures Europe</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Sekisui Chemical Co Ltd</name>
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        <name>Morgan Stanley &amp; Co. LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley &amp; Co. LLC</name>
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      <invstOrSec>
        <name>United States Treasury</name>
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        <fairValLevel>1</fairValLevel>
        <debtSec>
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        <securityLending>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
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      <invstOrSec>
        <name>Pan Pacific International Holdings Corp</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Palantir Technologies Inc</name>
        <lei>549300UVN46B3BBDHO85</lei>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
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        <name>Morgan Stanley &amp; Co. LLC</name>
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        <name>Sandvik AB</name>
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        <name>Asahi Kasei Corp</name>
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        <name>Carlisle Cos Inc</name>
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      <invstOrSec>
        <name>TJX Cos Inc/The</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley &amp; Co. LLC</name>
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        <name>Nitto Denko Corp</name>
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        <name>Incyte Corp</name>
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        <name>Sage Group PLC/The</name>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Monster Beverage Corp</name>
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        <name>Nomura Research Institute Ltd</name>
        <lei>5299005F1HCVF4M4QN79</lei>
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        <name>Wartsila OYJ Abp</name>
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        <name>Morgan Stanley &amp; Co. LLC</name>
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        <name>Berkshire Hathaway Inc</name>
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        <name>Markel Group Inc</name>
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        <name>DoorDash Inc</name>
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        <name>Morgan Stanley &amp; Co. LLC</name>
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        <name>Intesa Sanpaolo SpA</name>
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        <name>Recruit Holdings Co Ltd</name>
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        <name>Chicago Mercantile Exchange</name>
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        <name>AstraZeneca PLC</name>
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        <name>Goldman Sachs Financial Square Government Fund</name>
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        <name>Morgan Stanley &amp; Co. LLC</name>
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        <name>Broadcom Inc</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Amgen Inc</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Bank of America Corp</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley &amp; Co. LLC</name>
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      <invstOrSec>
        <name>JD Sports Fashion PLC</name>
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      <invstOrSec>
        <name>Phoenix Financial Ltd</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
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        <name>Tesla Inc</name>
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        <name>US Bancorp</name>
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        <name>Inpex Corp</name>
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        <name>Swisscom AG</name>
        <lei>5493005SL9HHOXS3B739</lei>
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        <name>Deutsche Telekom AG</name>
        <lei>549300V9QSIG4WX4GJ96</lei>
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        <name>ING Groep NV</name>
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        <name>Reddit Inc</name>
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        <name>Home Depot Inc/The</name>
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        <name>United States Treasury</name>
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        <name>ICE Futures Europe</name>
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      <invstOrSec>
        <name>Abbott Laboratories</name>
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      <invstOrSec>
        <name>Bandai Namco Holdings Inc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FedEx Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Veralto Corp</name>
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        <name>Synchrony Financial</name>
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        <name>Kenvue Inc</name>
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        <name>Apollo Global Management Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Citibank NA</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Arista Networks Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CaixaBank SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Domino's Pizza Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Morgan Stanley &amp; Co. LLC</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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      <invstOrSec>
        <name>United States Treasury</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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      <invstOrSec>
        <name>Cincinnati Financial Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Ciena Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Coca-Cola HBC AG</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley &amp; Co. LLC</name>
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        <name>Logitech International SA</name>
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        <name>FinecoBank Banca Fineco SpA</name>
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        <name>Rollins Inc</name>
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        <name>Bankinter SA</name>
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        <name>Mitsubishi Chemical Group Corp</name>
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        <name>Ipsen SA</name>
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        <name>ServiceNow Inc</name>
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        <name>Curtiss-Wright Corp</name>
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        <name>Sysco Corp</name>
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        <name>BAWAG Group AG</name>
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      <invstOrSec>
        <name>QBE Insurance Group Ltd</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sherwin-Williams Co/The</name>
        <lei>Z15BMIOX8DDH0X2OBP21</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley &amp; Co. LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Dexcom Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WH Group Ltd</name>
        <lei>254900A4AYEDRWYSE928</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>UniCredit SpA</name>
        <lei>549300TRUWO2CD2G5692</lei>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Suzuki Motor Corp</name>
        <lei>353800D83H0V3ZV1SV24</lei>
        <title>Suzuki Motor Corp</title>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Swiss Re AG</name>
        <lei>529900PS9YW3YY29F326</lei>
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        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Zurich Insurance Group AG</name>
        <lei>529900QVNRBND50TXP03</lei>
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        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Danone SA</name>
        <lei>969500KMUQ2B6CBAF162</lei>
        <title>Danone SA</title>
        <cusip>000000000</cusip>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Roche Holding AG</name>
        <lei>549300U41AUUVOAAOB37</lei>
        <title>Roche Holding AG</title>
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        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Charles Schwab Corp/The</name>
        <lei>549300VSGCJ7E698NM85</lei>
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        <name>Illinois Tool Works Inc</name>
        <lei>76NA4I14SZCFAYMNSV04</lei>
        <title>Illinois Tool Works Inc</title>
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        <name>F5 Inc</name>
        <lei>54930015FPK9KT966303</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Allianz SE</name>
        <lei>529900K9B0N5BT694847</lei>
        <title>Allianz SE</title>
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        <invCountry>DE</invCountry>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Meta Platforms Inc</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>Meta Platforms Inc</title>
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        <name>VeriSign Inc</name>
        <lei>LMPL4N8ZOJRMF0KOF759</lei>
        <title>VeriSign Inc</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Ross Stores Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lundin Gold Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Lululemon Athletica Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WSP Global Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Verizon Communications Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Generali</name>
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        <title>Generali</title>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Associated British Foods PLC</name>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lasertec Corp</name>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Standard Chartered PLC</name>
        <lei>U4LOSYZ7YG4W3S5F2G91</lei>
        <title>Standard Chartered PLC</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>George Weston Ltd</name>
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        <title>George Weston Ltd</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Fairfax Financial Holdings Ltd</name>
        <lei>GLS7OQD0WOEDI8YAP031</lei>
        <title>Fairfax Financial Holdings Ltd</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Morgan Stanley &amp; Co. LLC</name>
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        <name>Eiffage SA</name>
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        <name>Autodesk Inc</name>
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        <name>Prysmian SpA</name>
        <lei>529900X0H1IO3RS1A464</lei>
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        <name>Aon PLC</name>
        <lei>635400FALWQYX5E6QC64</lei>
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        <name>BioMerieux</name>
        <lei>549300AK8Y0LBIQ4T071</lei>
        <title>BioMerieux</title>
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        <name>Fox Corp</name>
        <lei>549300DDU6FDRBIELS05</lei>
        <title>Fox Corp</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>GE Vernova Inc</name>
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        <name>iShares MSCI USA Quality Factor ETF</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Japan Exchange Group</name>
        <lei>353800578ADEGIJTVW07</lei>
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        <fairValLevel>1</fairValLevel>
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            <putOrCall>Call</putOrCall>
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      <invstOrSec>
        <name>AIB Group PLC</name>
        <lei>635400AKJBGNS5WNQL34</lei>
        <title>AIB Group PLC</title>
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        <invCountry>IE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US912797SY45"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-10</maturityDt>
          <couponKind>None</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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          <other otherDesc="Trade Identifier" value="26ACKBB655J"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Airtel Africa PLC</name>
        <lei>254900ZNZDQL6OWQH623</lei>
        <title>Airtel Africa PLC</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Morgan Stanley &amp; Co. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>FXO004980 PUT AUD CALL USD</title>
        <cusip>000000000</cusip>
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          <other otherDesc="Internal Identifier" value="FXO004980"/>
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        <balance>11836000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Notional Amount</descOthUnits>
        <currencyConditional curCd="AUD" exchangeRt="1.40518500"/>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>Morgan Stanley &amp; Co. LLC</counterpartyName>
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            <putOrCall>Put</putOrCall>
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                    <name>Morgan Stanley &amp; Co. LLC</name>
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                      <other otherDesc="Internal Identifier" value="AEIJ21393E"/>
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                    <balance>1.00000000</balance>
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            <shareNo>1.00000000</shareNo>
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      <invstOrSec>
        <name>TE Connectivity PLC</name>
        <lei>6367003TB6K484NFHE54</lei>
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        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Vinci SA</name>
        <lei>213800WFQ334R8UXUG83</lei>
        <title>Vinci SA</title>
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          <isin value="FR0000125486"/>
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        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>iShares Core MSCI EAFE ETF</name>
        <lei>5493009FT582MI7Y3I36</lei>
        <title>iShares Core MSCI EAFE ETF</title>
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          <isin value="US46432F8427"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <name>Open Text Corp</name>
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        <name>Yum! Brands Inc</name>
        <lei>549300JE8XHZZ7OHN517</lei>
        <title>Yum! Brands Inc</title>
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        <name>Zoom Communications Inc</name>
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        <title>Zoom Communications Inc</title>
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      <invstOrSec>
        <name>Morgan Stanley &amp; Co. LLC</name>
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      <invstOrSec>
        <name>Caterpillar Inc</name>
        <lei>WRJR7GS4GTRECRRTVX92</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Banco Santander SA</name>
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        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Kuehne + Nagel International AG</name>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Nordea Bank Abp</name>
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        <invCountry>FI</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FirstService Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Oversea-Chinese Banking Corp Ltd</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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          <other otherDesc="Trade Identifier" value="25LUKBB9MKP"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CF Industries Holdings Inc</name>
        <lei>529900CG8YAQFZ2JMV97</lei>
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          <isin value="US1252691001"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>QUALCOMM Inc</name>
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        <title>QUALCOMM Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Natera Inc</name>
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        <title>Natera Inc</title>
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        <balance>2114.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley &amp; Co. LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley &amp; Co. LLC</name>
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        <name>Textron Inc</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Asics Corp</name>
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        <name>Japan Exchange Group</name>
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      <invstOrSec>
        <name>Morgan Stanley &amp; Co. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>FXO004429 CALL CHF PUT SEK</title>
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        <name>Regions Financial Corp</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Humana Inc</name>
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      <invstOrSec>
        <name>SGS SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Knorr-Bremse AG</name>
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          <isin value="DE000KBX1006"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Tapestry Inc</name>
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        <name>Keysight Technologies Inc</name>
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        <name>Kroger Co/The</name>
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        <fairValLevel>1</fairValLevel>
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        <name>United States Treasury</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Pinterest Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>TIS Inc</name>
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        <name>United Airlines Holdings Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Isracard Ltd</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ROBLOX Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Twilio Inc</name>
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        <name>United States Treasury</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Erste Group Bank AG</name>
        <lei>PQOH26KWDF7CG10L6792</lei>
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        <name>Sumitomo Electric Industries Ltd</name>
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        <name>Travelers Cos Inc/The</name>
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        <name>Saputo Inc</name>
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        <name>Deckers Outdoor Corp</name>
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        <name>Goldman Sachs ActiveBeta Emerging Markets Equity ETF</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>National Stock Exchange Of India</name>
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        <name>Options Clearing Corp.</name>
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        <name>Eurex Deutschland</name>
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        <name>Las Vegas Sands Corp</name>
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        <name>Booking Holdings Inc</name>
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        <name>T Rowe Price Group Inc</name>
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        <name>Banco de Sabadell SA</name>
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        <name>Japan Exchange Group</name>
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      <invstOrSec>
        <name>Kyowa Kirin Co Ltd</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Entain PLC</name>
        <lei>213800GNI3K45LQR8L28</lei>
        <title>Entain PLC</title>
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        <invCountry>IM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Expand Energy Corp</name>
        <lei>X2MT1W32SPAZ9WSKLE78</lei>
        <title>Expand Energy Corp</title>
        <cusip>165167735</cusip>
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          <isin value="US1651677353"/>
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        <balance>838.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Colgate-Palmolive Co</name>
        <lei>YMEGZFW4SBUSS5BQXF88</lei>
        <title>Colgate-Palmolive Co</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Quest Diagnostics Inc</name>
        <lei>8MCWUBXQ0WE04KMXBX50</lei>
        <title>Quest Diagnostics Inc</title>
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        <balance>1665.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Israel Discount Bank Ltd</name>
        <lei>549300XWZ7BG5G23OF51</lei>
        <title>Israel Discount Bank Ltd</title>
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        <invCountry>IL</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Unipol Assicurazioni SpA</name>
        <lei>8156005CE5E7340CCA86</lei>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Eli Lilly &amp; Co</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>Eli Lilly &amp; Co</title>
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        <balance>3477.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Tokio Marine Holdings Inc</name>
        <lei>5299009QN2NZ191KLS29</lei>
        <title>Tokio Marine Holdings Inc</title>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>S+P 500 INDEX</title>
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        <name>iA Financial Corp Inc</name>
        <lei>549300ZXLJVHQAIXV215</lei>
        <title>iA Financial Corp Inc</title>
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        <name>Zillow Group Inc</name>
        <lei>2549002XEELQDIR6FU05</lei>
        <title>Zillow Group Inc</title>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>JPMorgan Chase &amp; Co</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
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        <name>Options Clearing Corp.</name>
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        <name>Mapfre SA</name>
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                    <counterpartyName>Chicago Mercantile Exchange</counterpartyName>
                    <counterpartyLei>SNZ2OJLFK8MNNCLQOF39</counterpartyLei>
                  </counterparties>
                  <derivAddlInfo>
                    <name>CME Three Month SOFR</name>
                    <lei>SNZ2OJLFK8MNNCLQOF39</lei>
                    <title>CME Three Month SOFR Futures</title>
                    <cusip>N/A</cusip>
                    <identifiers>
                      <other otherDesc="Internal Identifier" value="ADI2RB047E"/>
                    </identifiers>
                    <balance>2891.00000000</balance>
                    <units>NC</units>
                    <curCd>N/A</curCd>
                    <valUSD>3559543.75000000</valUSD>
                    <pctVal>0.07000000</pctVal>
                    <assetCat>DIR</assetCat>
                    <issuerConditional desc="derivative" issuerCat="OTHER"/>
                    <invCountry>US</invCountry>
                  </derivAddlInfo>
                  <payOffProf>Long</payOffProf>
                  <descRefInstrmnt>
                    <indexBasketInfo>
                      <indexName>CME Three Month SOFR</indexName>
                      <indexIdentifier>SFRH7 Comdty</indexIdentifier>
                    </indexBasketInfo>
                  </descRefInstrmnt>
                  <expDate>2027-03-16</expDate>
                  <notionalAmt>2891.00000000</notionalAmt>
                  <curCd>USD</curCd>
                </futrDeriv>
              </nestedDerivInfo>
            </descRefInstrmnt>
            <shareNo>2500.00000000</shareNo>
            <exercisePrice>96.50000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-12-11</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-523110.11000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Japan Exchange Group</name>
        <lei>353800578ADEGIJTVW07</lei>
        <title>NIKKEI 225</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Bloomberg Identifier" value="BBG01Z2PKMZ4"/>
        </identifiers>
        <balance>-5.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="JPY" exchangeRt="156.16500000"/>
        <valUSD>-960.52000000</valUSD>
        <pctVal>-0.00002002181</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Japan Exchange Group</counterpartyName>
              <counterpartyLei>353800578ADEGIJTVW07</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Nikkei 225 Index</indexName>
                <indexIdentifier>NKY INDEX</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>1000.00000000</shareNo>
            <exercisePrice>47375.00000000</exercisePrice>
            <exercisePriceCurCd>JPY</exercisePriceCurCd>
            <expDt>2026-03-13</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>15071.98000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </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>912797QX8</cusip>
        <identifiers>
          <isin value="US912797QX89"/>
        </identifiers>
        <balance>3100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3069031.65000000</valUSD>
        <pctVal>0.063973241255</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-11</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 Holdings PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0005405286"/>
        </identifiers>
        <balance>31747.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74203200"/>
        <valUSD>593383.60000000</valUSD>
        <pctVal>0.012368941258</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Japan Exchange Group</name>
        <lei>353800578ADEGIJTVW07</lei>
        <title>NIKKEI 225</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Bloomberg Identifier" value="BBG01XFD39C5"/>
        </identifiers>
        <balance>-11.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="JPY" exchangeRt="156.16500000"/>
        <valUSD>-3028.85000000</valUSD>
        <pctVal>-0.00006313566</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Japan Exchange Group</counterpartyName>
              <counterpartyLei>353800578ADEGIJTVW07</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Nikkei 225 Index</indexName>
                <indexIdentifier>NKY INDEX</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>1000.00000000</shareNo>
            <exercisePrice>49250.00000000</exercisePrice>
            <exercisePriceCurCd>JPY</exercisePriceCurCd>
            <expDt>2026-03-13</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>45494.34000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </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"/>

    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-03-31</ncom:dateSigned>
      <ncom:nameOfApplicant>GOLDMAN SACHS TRUST</ncom:nameOfApplicant>
      <ncom:signature>Allison Fracchiolla</ncom:signature>
      <ncom:signerName>Allison Fracchiolla</ncom:signerName>
      <ncom:title>Vice President</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
