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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC BANK PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>TRS CFD EQUITY BASKET</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="GEARUS-HSC"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-57621.63000000</valUSD>
        <pctVal>-0.59154149323</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Custom Equity Basket</indexName>
                <indexIdentifier>BRSG01C_INDEX</indexIdentifier>
                <narrativeDesc>Custom Equity Basket</narrativeDesc>
                <components>
                  <component>
                    <othIndName>BASIC-FIT NV</othIndName>
                    <identifiers>
                      <cusip value="000000000"/>
                    </identifiers>
                    <othIndNotAmt>-2350.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-73163.48000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>ROCKWELL AUTOMATION INC</othIndName>
                    <identifiers>
                      <cusip value="773903109"/>
                    </identifiers>
                    <othIndNotAmt>-320.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-99353.60000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>ASSOCIATED BRITISH FOODS PLC</othIndName>
                    <identifiers>
                      <cusip value="000000000"/>
                    </identifiers>
                    <othIndNotAmt>-2938.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-88548.44000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>SAGE GROUP PLC/THE</othIndName>
                    <identifiers>
                      <cusip value="000000000"/>
                    </identifiers>
                    <othIndNotAmt>-13068.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-195089.76000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>FIRST FINANCIAL HOLDING CO LTD</othIndName>
                    <identifiers>
                      <cusip value="000000000"/>
                    </identifiers>
                    <othIndNotAmt>-81000.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-72275.57000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
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                  <component>
                    <othIndName>CENTRAL JAPAN RAILWAY CO</othIndName>
                    <identifiers>
                      <cusip value="000000000"/>
                    </identifiers>
                    <othIndNotAmt>-1800.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-45684.51000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>SECOM CO LTD</othIndName>
                    <identifiers>
                      <cusip value="000000000"/>
                    </identifiers>
                    <othIndNotAmt>-1000.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-71940.26000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
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                  <component>
                    <othIndName>BRP GROUP INC</othIndName>
                    <identifiers>
                      <cusip value="05589G102"/>
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                    <othIndNotAmt>-4860.00000000</othIndNotAmt>
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                    <othIndValue>-116737.20000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
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                  <component>
                    <othIndName>FIVE BELOW INC</othIndName>
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                      <cusip value="33829M101"/>
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                    <othIndNotAmt>-433.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-92298.28000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
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                  <component>
                    <othIndName>ROBERT HALF INC</othIndName>
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                      <cusip value="770323103"/>
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                    <othIndNotAmt>-1532.00000000</othIndNotAmt>
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                    <othIndValue>-134693.44000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
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                  <component>
                    <othIndName>MELROSE INDUSTRIES PLC</othIndName>
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                      <cusip value="000000000"/>
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                    <othIndValue>176994.23000000</othIndValue>
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                  <component>
                    <othIndName>AIRBUS SE</othIndName>
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                      <cusip value="000000000"/>
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                  <component>
                    <othIndName>GAP INC/THE</othIndName>
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                      <cusip value="364760108"/>
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                    <othIndValue>-47026.59000000</othIndValue>
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                  <component>
                    <othIndName>WW GRAINGER INC</othIndName>
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                  <component>
                    <othIndName>SHISEIDO CO LTD</othIndName>
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                      <cusip value="000000000"/>
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                    <othIndValue>-54256.28000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
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                  <component>
                    <othIndName>CONAGRA BRANDS INC</othIndName>
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                      <cusip value="205887102"/>
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                  <component>
                    <othIndName>AMERICAN INTERNATIONAL GROUP INC</othIndName>
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                      <cusip value="026874784"/>
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                    <othIndValue>152302.00000000</othIndValue>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
            <otherPmntDesc fixedOrFloating="Other">CFD EQUITY BASKET</otherPmntDesc>
            <terminationDt>2024-02-13</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-1167981.11000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-57621.63000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Canadian Pacific Kansas City L</name>
        <lei>N/A</lei>
        <title>Canadian Pacific Kansas City Ltd</title>
        <cusip>13646K108</cusip>
        <identifiers>
          <isin value="CA13646K1084"/>
          <ticker value="CP"/>
          <other otherDesc="SEDOL" value="BMBQR09"/>
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        <balance>1872.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.32505000"/>
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        <pctVal>1.520548477854</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Comcast Corp</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp</title>
        <cusip>20030N101</cusip>
        <identifiers>
          <isin value="US20030N1019"/>
          <ticker value="CMCSA"/>
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        <balance>8036.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>352378.60000000</valUSD>
        <pctVal>3.617505496273</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Remy Cointreau SA</name>
        <lei>5493004V6A3Z027YT216</lei>
        <title>Remy Cointreau SA</title>
        <cusip>000000000</cusip>
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          <isin value="FR0000130395"/>
          <ticker value="RCO"/>
          <other otherDesc="SEDOL" value="4741714"/>
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        <balance>1518.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90583812"/>
        <valUSD>193628.39000000</valUSD>
        <pctVal>1.987781792252</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Lojas Renner SA</name>
        <lei>N/A</lei>
        <title>Lojas Renner SA</title>
        <cusip>000000000</cusip>
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          <isin value="BRLRENACNOR1"/>
          <ticker value="LREN3"/>
          <other otherDesc="SEDOL" value="B0CGYD6"/>
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        <balance>46174.00000000</balance>
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        <currencyConditional curCd="BRL" exchangeRt="4.85760000"/>
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        <pctVal>1.700896595493</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BlackRock Liquidity Funds T-Fund</name>
        <lei>5493002L9DNZ83RX7V61</lei>
        <title>BlackRock Liquidity Funds T-Fund</title>
        <cusip>09248U718</cusip>
        <identifiers>
          <isin value="US09248U7182"/>
          <ticker value="TSTXX"/>
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        <balance>749230.28000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>749230.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Lasertec Corp</name>
        <lei>N/A</lei>
        <title>Lasertec Corp</title>
        <cusip>000000000</cusip>
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          <isin value="JP3979200007"/>
          <ticker value="6920"/>
          <other otherDesc="SEDOL" value="6506267"/>
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        <balance>800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="141.00000000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Mastercard Inc</name>
        <lei>AR5L2ODV9HN37376R084</lei>
        <title>Mastercard Inc</title>
        <cusip>57636Q104</cusip>
        <identifiers>
          <isin value="US57636Q1040"/>
          <ticker value="MA"/>
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        <balance>1015.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>432907.65000000</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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Microsoft Corp</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>Microsoft Corp</title>
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          <isin value="US5949181045"/>
          <ticker value="MSFT"/>
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        <balance>890.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>334675.60000000</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>EURONEXT PARIS SA</name>
        <lei>969500HMVSZ0TCV65D58</lei>
        <title>CAC40 10 EURO</title>
        <cusip>000000000</cusip>
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          <ticker value="CFF4"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG01JWMS226"/>
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        <currencyConditional curCd="EUR" exchangeRt="0.90583812"/>
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        <pctVal>-0.00268886090</pctVal>
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        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>EURONEXT PARIS SA</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>EURONEXT</issuerName>
                <issueTitle>CAC 40</issueTitle>
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                  <cusip value="000000000"/>
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            <expDate>2024-01-19</expDate>
            <notionalAmt>-244301.07000000</notionalAmt>
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            <unrealizedAppr>-261.92000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ferrari NV</name>
        <lei>549300RIVY5EX8RCON76</lei>
        <title>Ferrari NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0011585146"/>
          <ticker value="RACE"/>
          <other otherDesc="SEDOL" value="BD6G507"/>
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        <balance>447.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.90583812"/>
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        <pctVal>1.549238763275</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EUREX CLEARING AKTIENGESELLSCHAFT</name>
        <lei>529900LN3S50JPU47S06</lei>
        <title>STOXX EUROPE 600</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="SXOH4"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG017Q95L03"/>
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        <balance>-52.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.90583812"/>
        <valUSD>-12605.74000000</valUSD>
        <pctVal>-0.12941005422</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <payOffProf>Short</payOffProf>
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                <issuerName>DEUTSCHE BORSE AKTIENGESELLSCHAFT</issuerName>
                <issueTitle>STOXX EUROPE 600 PRICE INDEX</issueTitle>
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                  <cusip value="000000000"/>
                  <ticker value="SXXP"/>
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            </descRefInstrmnt>
            <expDate>2024-03-15</expDate>
            <notionalAmt>-1332980.35000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-12605.74000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Recruit Holdings Co Ltd</name>
        <lei>353800R2LRSMVVC4I806</lei>
        <title>Recruit Holdings Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3970300004"/>
          <ticker value="6098"/>
          <other otherDesc="SEDOL" value="BQRRZ00"/>
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        <balance>10500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="141.00000000"/>
        <valUSD>439016.92000000</valUSD>
        <pctVal>4.506931241161</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
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        <name>GOLDMAN SACHS BANK USA</name>
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            <counterparties>
              <counterpartyName>STATE STREET GLOBAL MARKETS, LLC</counterpartyName>
              <counterpartyLei>549300FDEDF5ORXCMQ56</counterpartyLei>
            </counterparties>
            <amtCurSold>-160373.00000000</amtCurSold>
            <curSold>CHF</curSold>
            <amtCurPur>182902.45000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2024-01-19</settlementDt>
            <unrealizedAppr>-8209.36000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>T-Mobile US Inc</name>
        <lei>549300QHIJYOHPACPG31</lei>
        <title>T-Mobile US Inc</title>
        <cusip>872590104</cusip>
        <identifiers>
          <isin value="US8725901040"/>
          <ticker value="TMUS"/>
        </identifiers>
        <balance>2313.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>370843.29000000</valUSD>
        <pctVal>3.807063311537</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Match Group Inc</name>
        <lei>15OMOPB0A8K0EFUVD031</lei>
        <title>Match Group Inc</title>
        <cusip>57667L107</cusip>
        <identifiers>
          <isin value="US57667L1070"/>
          <ticker value="MTCH"/>
        </identifiers>
        <balance>3127.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>114135.50000000</valUSD>
        <pctVal>1.171710763848</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Willis Towers Watson PLC</name>
        <lei>549300WHC56FF48KL350</lei>
        <title>Willis Towers Watson PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00BDB6Q211"/>
          <ticker value="WTW"/>
          <other otherDesc="SEDOL" value="BDB6Q21"/>
        </identifiers>
        <balance>445.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>107334.00000000</valUSD>
        <pctVal>1.101886819849</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Western Alliance Bancorp</name>
        <lei>5493003VJXZ5JXT9S762</lei>
        <title>Western Alliance Bancorp</title>
        <cusip>957638109</cusip>
        <identifiers>
          <isin value="US9576381092"/>
          <ticker value="WAL"/>
        </identifiers>
        <balance>2167.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>142566.93000000</valUSD>
        <pctVal>1.463586758281</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITIBANK, NATIONAL ASSOCIATION</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>TRS CFD EQUITY BASKET</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="GEARUS-CTC"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>7020.34000000</valUSD>
        <pctVal>0.072070547234</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>CITIBANK, NATIONAL ASSOCIATION</counterpartyName>
              <counterpartyLei>E57ODZWZ7FF32TWEFA76</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Custom Equity Basket</indexName>
                <indexIdentifier>BRSG01B_INDEX</indexIdentifier>
                <narrativeDesc>Custom Equity Basket</narrativeDesc>
                <components>
                  <component>
                    <othIndName>INTERNATIONAL BUSINESS MACHINES CORP</othIndName>
                    <identifiers>
                      <cusip value="459200101"/>
                    </identifiers>
                    <othIndNotAmt>-1057.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-172872.35000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>COGNIZANT TECHNOLOGY SOLUTIONS CORP</othIndName>
                    <identifiers>
                      <cusip value="192446102"/>
                    </identifiers>
                    <othIndNotAmt>-1124.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-84895.72000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>IRON MOUNTAIN INC</othIndName>
                    <identifiers>
                      <cusip value="46284V101"/>
                    </identifiers>
                    <othIndNotAmt>-2845.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-199093.10000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>BELDEN INC</othIndName>
                    <identifiers>
                      <cusip value="077454106"/>
                    </identifiers>
                    <othIndNotAmt>-1212.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-93627.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>SAMSUNG ELECTRONICS CO LTD</othIndName>
                    <identifiers>
                      <cusip value="000000000"/>
                    </identifiers>
                    <othIndNotAmt>7003.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>425059.98000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>GODADDY INC</othIndName>
                    <identifiers>
                      <cusip value="380237107"/>
                    </identifiers>
                    <othIndNotAmt>-979.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-103930.64000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>CHARTER COMMUNICATIONS INC</othIndName>
                    <identifiers>
                      <cusip value="16119P108"/>
                    </identifiers>
                    <othIndNotAmt>-187.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-72683.16000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>TIMKEN CO/THE</othIndName>
                    <identifiers>
                      <cusip value="887389104"/>
                    </identifiers>
                    <othIndNotAmt>-2054.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-164628.10000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>RANDSTAD NV</othIndName>
                    <identifiers>
                      <cusip value="000000000"/>
                    </identifiers>
                    <othIndNotAmt>-2097.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-131607.86000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>AIR LIQUIDE SA</othIndName>
                    <identifiers>
                      <cusip value="000000000"/>
                    </identifiers>
                    <othIndNotAmt>841.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>163738.85000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>BUNZL PLC</othIndName>
                    <identifiers>
                      <cusip value="000000000"/>
                    </identifiers>
                    <othIndNotAmt>-4407.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-179080.75000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>INTERPUBLIC GROUP OF COS INC/THE</othIndName>
                    <identifiers>
                      <cusip value="460690100"/>
                    </identifiers>
                    <othIndNotAmt>-2849.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-92991.36000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>TRADE DESK INC/THE</othIndName>
                    <identifiers>
                      <cusip value="88339J105"/>
                    </identifiers>
                    <othIndNotAmt>-1481.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-106572.76000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>WIX.COM LTD</othIndName>
                    <identifiers>
                      <cusip value="000000000"/>
                    </identifiers>
                    <othIndNotAmt>-901.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-110841.02000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>SEVEN BANK LTD</othIndName>
                    <identifiers>
                      <cusip value="000000000"/>
                    </identifiers>
                    <othIndNotAmt>-35200.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-74726.04000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                </components>
              </indexBasketInfo>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
            <otherPmntDesc fixedOrFloating="Other">CFD EQUITY BASKET</otherPmntDesc>
            <terminationDt>2025-05-08</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-1011230.11000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>7020.34000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Beiersdorf AG</name>
        <lei>L47NHHI0Z9X22DV46U41</lei>
        <title>Beiersdorf AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0005200000"/>
          <ticker value="BEI"/>
          <other otherDesc="SEDOL" value="5107401"/>
        </identifiers>
        <balance>3287.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90583812"/>
        <valUSD>492244.01000000</valUSD>
        <pctVal>5.053358551519</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Thermo Fisher Scientific Inc</name>
        <lei>HCHV7422L5HDJZCRFL38</lei>
        <title>Thermo Fisher Scientific Inc</title>
        <cusip>883556102</cusip>
        <identifiers>
          <isin value="US8835561023"/>
          <ticker value="TMO"/>
        </identifiers>
        <balance>566.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>300427.14000000</valUSD>
        <pctVal>3.084173755669</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Freeport-McMoRan Inc</name>
        <lei>549300IRDTHJQ1PVET45</lei>
        <title>Freeport-McMoRan Inc</title>
        <cusip>35671D857</cusip>
        <identifiers>
          <isin value="US35671D8570"/>
          <ticker value="FCX"/>
        </identifiers>
        <balance>3483.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>148271.31000000</valUSD>
        <pctVal>1.522147709493</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Heineken NV</name>
        <lei>724500K5PTPSST86UQ23</lei>
        <title>Heineken NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0000009165"/>
          <ticker value="HEIA"/>
          <other otherDesc="SEDOL" value="7792559"/>
        </identifiers>
        <balance>1603.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90583812"/>
        <valUSD>162863.95000000</valUSD>
        <pctVal>1.671955204628</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>

      <explntrNote note="GEARUS-MSC (Morgan Stanley &amp; Co. International PLC): The Fund receives the total return on a portfolio of long positions underlying the total return swap. The Fund pays the total return on a portfolio of short positions underlying the total return swap. In addition, the Fund pays or receives a variable rate of interest, based on a specified benchmark, plus or minus a spread in a range of 15-40 basis points. The benchmark and spread are determined based upon the country and/or currency of the individual underlying positions. The following are the specified benchmarks used in determining the variable rate of interest: EUR - 1D Euro Short Term Rate (ESTR), GBP - 1D Sterling Overnight Index Average (SONIA), JPY - Provisional 1D Overnight Tokyo Average Rate (TONA), SEK - 1D Overnight Stockholm Interbank Offer Rate (STIBOR), USD - 1D Overnight Fed Funds Effective Rate (FEDL01)." noteItem="C.11.f.i.1"/>

      <explntrNote note="GEARUS-GSC (Goldman Sachs Bank USA): The Fund receives the total return on a portfolio of long positions underlying the total return swap. The Fund pays the total return on a portfolio of short positions underlying the total return swap. In addition, the Fund pays or receives a variable rate of interest, based on a specified benchmark, plus or minus a spread in a range of 0-600 basis points. The benchmark and spread are determined based upon the country and/or currency of the individual underlying positions. The following are the specified benchmarks used in determining the variable rate of interest: CAD - 1D Overnight Bank of Canada Repo Rate (CORRA), EUR - 1D Euro Short Term Rate (ESTR), GBP - 1D Sterling Overnight Index Average (SONIA), HKD - Overnight Index Average (HONIA), JPY - Provisional 1D Overnight Tokyo Average Rate (TONA), USD - 1D Overnight Fed Funds Effective Rate (FEDL01)." noteItem="C.11.f.i.1"/>

      <explntrNote note="GEARUS-CTC (Citibank NA): The Fund receives the total return on a portfolio of long positions underlying the total return swap. The Fund pays the total return on a portfolio of short positions underlying the total return swap. In addition, the Fund pays or receives a variable rate of interest, based on a specified benchmark, plus or minus a spread in a range of 15-35 basis points. The benchmark and spread are determined based upon the country and/or currency of the individual underlying positions. The following are the specified benchmarks used in determining the variable rate of interest: EUR - 1D Euro Short Term Rate (ESTR), GBP - 1D Sterling Overnight Index Average (SONIA), JPY - Provisional 1D Overnight Tokyo Average Rate (TONA), USD - 1D Overnight Bank Funding Rate (OBFR01)." noteItem="C.11.f.i.1"/>

      <explntrNote note="IBORs are undergoing a change as regulators and industry groups have recommended that firms consider adoption of alternative, overnight risk-free rates (RFRs). Floating rate swap terms reflected as Libors may be using the RFR to calculate the actual rate." noteItem="C.11.f.i.2"/>

      <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"/>
      <explntrNote note="GEARUS-HSC (HSBC Bank plc): The Fund receives the total return on a portfolio of long positions underlying the total return swap. The Fund pays the total return on a portfolio of short positions underlying the total return swap. In addition, the Fund pays or receives a variable rate of interest, based on a specified benchmark, plus or minus a spread in a range of 15-150 basis points. The benchmark and spread are determined based upon the country and/or currency of the individual underlying positions. The following are the specified benchmarks used in determining the variable rate of interest: EUR - 1D Euro Short Term Rate (ESTR), GBP - 1D Sterling Overnight Index Average (SONIA), JPY - Provisional 1D Overnight Tokyo Average Rate (TONA), USD - 1D Overnight Bank Funding Rate (OBFR01)." noteItem="C.11.f.i.1"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2024-02-26</ncom:dateSigned>
      <ncom:nameOfApplicant>BlackRock Funds</ncom:nameOfApplicant>
      <ncom:signature>Chuck Pulsfort</ncom:signature>
      <ncom:signerName>Chuck Pulsfort</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
