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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Prudential PLC</name>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Trelleborg AB</name>
        <lei>213800XY16PAWG2PAD14</lei>
        <title>Trelleborg AB</title>
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          <isin value="SE0000114837"/>
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        <assetCat>EC</assetCat>
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        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>KSB SE &amp; Co KGaA</name>
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          <isin value="DE0006292006"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Rheinmetall AG</name>
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        <title>Rheinmetall AG</title>
        <cusip>000000000</cusip>
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          <isin value="DE0007030009"/>
          <ticker value="RHM"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HAITIAN INT'L</name>
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        <title>Haitian International Holdings Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="KYG4232C1087"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>CN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Fuso Chemical Co Ltd</name>
        <lei>N/A</lei>
        <title>Fuso Chemical Co Ltd</title>
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          <isin value="JP3822600007"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>National Bank of Canada</name>
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          <isin value="CA6330671034"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO.</name>
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          <ticker value="N/A"/>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Alten SA</name>
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        <title>Alten SA</title>
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          <ticker value="ATE"/>
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        <invCountry>FR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Alliance Global Group Inc</name>
        <lei>N/A</lei>
        <title>Alliance Global Group Inc</title>
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          <ticker value="AGI"/>
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        <invCountry>PH</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Aalberts NV</name>
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        <title>Aalberts NV</title>
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        <assetCat>EC</assetCat>
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        <invCountry>NL</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Nippon Sanso Holdings Corp</name>
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        <title>Nippon Sanso Holdings Corp</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Kuraray Co Ltd</name>
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        <title>Kuraray Co Ltd</title>
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          <isin value="JP3269600007"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Coca-Cola Femsa SAB de CV</name>
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        <title>Coca-Cola Femsa SAB de CV</title>
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          <ticker value="KOF"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Teleperformance SE</name>
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        <title>Teleperformance SE</title>
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        <name>Azelis Group NV</name>
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        <name>U-PRESID CHINA</name>
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        <title>Uni-President China Holdings Ltd</title>
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        <name>Novartis AG</name>
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        <title>Novartis AG</title>
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        <name>The Northern Trust Company</name>
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        <name>LG Corp</name>
        <lei>N/A</lei>
        <title>LG Corp</title>
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        <name>CVS Group PLC</name>
        <lei>213800J41XDQ2NX48O05</lei>
        <title>CVS Group PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B2863827"/>
          <ticker value="CVSG"/>
          <other otherDesc="SEDOL" value="B286382"/>
        </identifiers>
        <balance>4180528.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74346678"/>
        <valUSD>72199566.35000000</valUSD>
        <pctVal>1.723394032565</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>Grafton Group PLC</name>
        <lei>635400BE9SBAG61DJ963</lei>
        <title>Grafton Group PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00B00MZ448"/>
          <ticker value="GFTU"/>
          <other otherDesc="SEDOL" value="B00MZ44"/>
        </identifiers>
        <balance>2704933.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74346678"/>
        <valUSD>34054208.43000000</valUSD>
        <pctVal>0.812869419568</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Inchcape PLC</name>
        <lei>213800RGEH1MPPNM2T57</lei>
        <title>Inchcape PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B61TVQ02"/>
          <ticker value="INCH"/>
          <other otherDesc="SEDOL" value="B61TVQ0"/>
        </identifiers>
        <balance>5273360.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74346678"/>
        <valUSD>54544653.75000000</valUSD>
        <pctVal>1.301973620248</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>Rubis SCA</name>
        <lei>969500MGFIKUGLTC9742</lei>
        <title>Rubis SCA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0013269123"/>
          <ticker value="RUI"/>
          <other otherDesc="SEDOL" value="BDT88L2"/>
        </identifiers>
        <balance>2392742.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85146238"/>
        <valUSD>90093596.29000000</valUSD>
        <pctVal>2.150522143940</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>

      <invstOrSec>
        <name>Ionis Pharmaceuticals Inc</name>
        <lei>549300SI4ZGLG0BLUZ92</lei>
        <title>Ionis Pharmaceuticals Inc</title>
        <cusip>462222100</cusip>
        <identifiers>
          <isin value="US4622221004"/>
          <ticker value="IONS"/>
        </identifiers>
        <balance>1941377.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>153582334.47000000</valUSD>
        <pctVal>3.665989868277</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>Binggrae Co Ltd</name>
        <lei>N/A</lei>
        <title>Binggrae Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KR7005180005"/>
          <ticker value="005180"/>
          <other otherDesc="SEDOL" value="6098236"/>
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        <balance>132322.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1440.55000000"/>
        <valUSD>6843211.97000000</valUSD>
        <pctVal>0.163346558281</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Berkeley Group Holdings PLC</name>
        <lei>2138009OQSSLVVHQAL78</lei>
        <title>Berkeley Group Holdings PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BP0RGD03"/>
          <ticker value="BKG"/>
          <other otherDesc="SEDOL" value="BP0RGD0"/>
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        <balance>473985.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74346678"/>
        <valUSD>24889308.79000000</valUSD>
        <pctVal>0.594104485828</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>Okamoto Industries Inc</name>
        <lei>N/A</lei>
        <title>Okamoto Industries Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3192800005"/>
          <ticker value="5122"/>
          <other otherDesc="SEDOL" value="6657767"/>
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        <balance>104825.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="156.74500000"/>
        <valUSD>3658124.66000000</valUSD>
        <pctVal>0.087318948411</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Northern Trust Company</name>
        <lei>6PTKHDJ8HDUF78PFWH30</lei>
        <title>HKD/USD FORWARD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="AUUSF6V2JBXTPUNHX70POKLOW"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-245.40000000</valUSD>
        <pctVal>-0.00000585766</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>The Northern Trust Company</counterpartyName>
              <counterpartyLei>6PTKHDJ8HDUF78PFWH30</counterpartyLei>
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            <amtCurSold>-147841136.90000000</amtCurSold>
            <curSold>HKD</curSold>
            <amtCurPur>19047255.09000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2026-03-31</settlementDt>
            <unrealizedAppr>-245.40000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sysmex Corp</name>
        <lei>5299001ZO4CKWACMZI55</lei>
        <title>Sysmex Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3351100007"/>
          <ticker value="6869"/>
          <other otherDesc="SEDOL" value="6883807"/>
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        <balance>802165.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="156.74500000"/>
        <valUSD>7893964.80000000</valUSD>
        <pctVal>0.188427888384</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SMEIC</name>
        <lei>N/A</lei>
        <title>Shanghai Mechanical and Electrical Industry Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE000000G39"/>
          <ticker value="900925"/>
          <other otherDesc="SEDOL" value="6797436"/>
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        <balance>6463000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10276170.00000000</valUSD>
        <pctVal>0.245290809224</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Phoenix Mecano AG</name>
        <lei>529900SWF06EKVI1JY11</lei>
        <title>Phoenix Mecano AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH1261338102"/>
          <ticker value="PMN"/>
          <other otherDesc="SEDOL" value="BRBMTX9"/>
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        <balance>63203.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.79225000"/>
        <valUSD>35580357.21000000</valUSD>
        <pctVal>0.849298387680</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nakanishi Inc</name>
        <lei>353800EXA7IQ42YKF224</lei>
        <title>Nakanishi Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3642500007"/>
          <ticker value="7716"/>
          <other otherDesc="SEDOL" value="6271071"/>
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        <balance>1586635.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="156.74500000"/>
        <valUSD>20052466.97000000</valUSD>
        <pctVal>0.478649715800</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nippon Kanzai Holdings Co Ltd</name>
        <lei>N/A</lei>
        <title>Nippon Kanzai Holdings Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3695010003"/>
          <ticker value="9347"/>
          <other otherDesc="SEDOL" value="BQZCC28"/>
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        <balance>164400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="156.74500000"/>
        <valUSD>2919963.00000000</valUSD>
        <pctVal>0.069699127902</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Safran SA</name>
        <lei>969500UIC89GT3UL7L24</lei>
        <title>Safran SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0000073272"/>
          <ticker value="SAF"/>
          <other otherDesc="SEDOL" value="B058TZ6"/>
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        <balance>315965.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85146238"/>
        <valUSD>110360707.03000000</valUSD>
        <pctVal>2.634295377942</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Transcosmos Inc</name>
        <lei>353800AAR1GYRFDRTV97</lei>
        <title>Transcosmos Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3635700002"/>
          <ticker value="9715"/>
          <other otherDesc="SEDOL" value="6900955"/>
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        <balance>588565.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="156.74500000"/>
        <valUSD>14569091.20000000</valUSD>
        <pctVal>0.347762266497</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Embotelladora Andina SA</name>
        <lei>254900NNPKP1J9XTSA53</lei>
        <title>Embotelladora Andina SA</title>
        <cusip>000000000</cusip>
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          <isin value="CLP3697U1089"/>
          <ticker value="ANDINAA"/>
          <other otherDesc="SEDOL" value="2311443"/>
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        <balance>11044000.00000000</balance>
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        <currencyConditional curCd="CLP" exchangeRt="901.57500000"/>
        <valUSD>44098827.05000000</valUSD>
        <pctVal>1.052633128192</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hana Financial Group Inc</name>
        <lei>N/A</lei>
        <title>Hana Financial Group Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KR7086790003"/>
          <ticker value="086790"/>
          <other otherDesc="SEDOL" value="B0RNRF5"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Vertu Motors PLC</name>
        <lei>213800GIKJEIUIGMI575</lei>
        <title>Vertu Motors PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B1GK4645"/>
          <ticker value="VTU"/>
          <other otherDesc="SEDOL" value="B1GK464"/>
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        <balance>16292379.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.74346678"/>
        <valUSD>13674376.17000000</valUSD>
        <pctVal>0.326405537897</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>
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      </invstOrSec>
      <invstOrSec>
        <name>The Northern Trust Company</name>
        <lei>6PTKHDJ8HDUF78PFWH30</lei>
        <title>HKD/USD FORWARD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="AUUBXKDWZI4SBU2Y2PYO6QX9Q"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-15168.04000000</valUSD>
        <pctVal>-0.00036205909</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>The Northern Trust Company</counterpartyName>
              <counterpartyLei>6PTKHDJ8HDUF78PFWH30</counterpartyLei>
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            <amtCurSold>-40645685.75000000</amtCurSold>
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            <settlementDt>2026-05-20</settlementDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Adris Grupa DD</name>
        <lei>3157003OO9IA06S5FS61</lei>
        <title>Adris Grupa DD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="HRADRSPA0009"/>
          <ticker value="ADRS2"/>
          <other otherDesc="SEDOL" value="B1L6Z97"/>
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        <balance>30000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.85146238"/>
        <valUSD>2896193.70000000</valUSD>
        <pctVal>0.069131757877</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>Fresenius SE &amp; Co KGaA</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Lassonde Industries Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Hosokawa Micron Corp</name>
        <lei>N/A</lei>
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          <isin value="JP3846000002"/>
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      <invstOrSec>
        <name>Wuliangye Yibin Co Ltd</name>
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        <invCountry>CN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US912797RH21"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Subaru Corp</name>
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        <title>Subaru Corp</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Howden Joinery Group PLC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Breedon Group PLC</name>
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      <invstOrSec>
        <name>The Northern Trust Company</name>
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        <name>Sodexo SA</name>
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        <name>Taikisha Ltd</name>
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        <name>Sopra Steria Group</name>
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        <name>Takara Holdings Inc</name>
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        <title>Takara Holdings Inc</title>
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        <name>LX Holdings Corp</name>
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        <name>Niterra Co Ltd</name>
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        <name>Dreyfus Treasury Securities Cash Management</name>
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        <name>TotalEnergies SE</name>
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        <name>SOL SpA</name>
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        <name>CHASE SECURITIES INTERNATIONAL LIMITED</name>
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      <invstOrSec>
        <name>Megacable Holdings SAB de CV</name>
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          <isin value="MX01ME090003"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>YAMABIKO Corp</name>
        <lei>N/A</lei>
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          <isin value="JP3943000004"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TX Group AG</name>
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          <isin value="CH0011178255"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Shoei Co Ltd</name>
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          <isin value="JP3360900009"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Winpak Ltd</name>
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          <isin value="CA97535P1045"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United Overseas Bank Ltd</name>
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          <isin value="SG1M31001969"/>
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          <other otherDesc="SEDOL" value="6916781"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Diageo PLC</name>
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        <title>Diageo PLC</title>
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          <isin value="GB0002374006"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kemira Oyj</name>
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          <isin value="FI0009004824"/>
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        <assetCat>EC</assetCat>
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        <invCountry>FI</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Computacenter PLC</name>
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          <isin value="GB00BV9FP302"/>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Heineken Holding NV</name>
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        <assetCat>EC</assetCat>
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        <invCountry>NL</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>State Street Bank and Trust Company</name>
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      <invstOrSec>
        <name>Johnson Service Group PLC</name>
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        <title>Johnson Service Group PLC</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Santec Holdings Corp</name>
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        <title>Santec Holdings Corp</title>
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      <invstOrSec>
        <name>Kanadevia Corp</name>
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        <title>Kanadevia Corp</title>
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        <name>Samsung Electronics Co Ltd</name>
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        <title>Samsung Electronics Co Ltd</title>
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        <name>Koito Manufacturing Co Ltd</name>
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        <title>Koito Manufacturing Co Ltd</title>
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        <name>ADEKA Corp</name>
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        <name>Nestle SA</name>
        <lei>KY37LUS27QQX7BB93L28</lei>
        <title>Nestle SA</title>
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        <name>Autoliv Inc</name>
        <lei>A23RUXWKASG834LTMK28</lei>
        <title>Autoliv Inc</title>
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        <name>Coltene Holding AG</name>
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        <title>Coltene Holding AG</title>
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        <invCountry>CH</invCountry>
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      <invstOrSec>
        <name>Pets at Home Group Plc</name>
        <lei>2138003Y9ULD24PD3J93</lei>
        <title>Pets at Home Group Plc</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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              <counterpartyLei>8I5DZWZKVSZI1NUHU748</counterpartyLei>
            </counterparties>
            <amtCurSold>-17652820.80000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>2700000000.00000000</amtCurPur>
            <curPur>JPY</curPur>
            <settlementDt>2026-09-03</settlementDt>
            <unrealizedAppr>-88553.52000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Northern Trust Company</name>
        <lei>6PTKHDJ8HDUF78PFWH30</lei>
        <title>CAD/USD FORWARD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="AUUTY9CZAF0RPM7IBJAIGQF2Q"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>31475.86000000</valUSD>
        <pctVal>0.000751324585</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>The Northern Trust Company</counterpartyName>
              <counterpartyLei>6PTKHDJ8HDUF78PFWH30</counterpartyLei>
            </counterparties>
            <amtCurSold>-6841082.63000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>9407371.11000000</amtCurPur>
            <curPur>CAD</curPur>
            <settlementDt>2026-01-30</settlementDt>
            <unrealizedAppr>31475.86000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Northern Trust Company</name>
        <lei>6PTKHDJ8HDUF78PFWH30</lei>
        <title>USD/GBP FORWARD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="AUUE9YF9YYAQGCFFRA6QJT1JA"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>221933.43000000</valUSD>
        <pctVal>0.005297521414</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>The Northern Trust Company</counterpartyName>
              <counterpartyLei>6PTKHDJ8HDUF78PFWH30</counterpartyLei>
            </counterparties>
            <amtCurSold>-40000000.00000000</amtCurSold>
            <curSold>GBP</curSold>
            <amtCurPur>53980400.00000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2026-08-20</settlementDt>
            <unrealizedAppr>221933.43000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Northern Trust Company</name>
        <lei>6PTKHDJ8HDUF78PFWH30</lei>
        <title>HKD/USD FORWARD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="AUUOMFNFVSASAE7RXSXXKRXEA"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>324847.44000000</valUSD>
        <pctVal>0.007754065126</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>The Northern Trust Company</counterpartyName>
              <counterpartyLei>6PTKHDJ8HDUF78PFWH30</counterpartyLei>
            </counterparties>
            <amtCurSold>-315000000.00000000</amtCurSold>
            <curSold>HKD</curSold>
            <amtCurPur>40955365.15000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2026-05-20</settlementDt>
            <unrealizedAppr>324847.44000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Northern Trust Company</name>
        <lei>6PTKHDJ8HDUF78PFWH30</lei>
        <title>MXN/USD FORWARD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="AUUCYTXEZXASIYCQLRLJQTQIQ"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>205142.72000000</valUSD>
        <pctVal>0.004896729403</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>The Northern Trust Company</counterpartyName>
              <counterpartyLei>6PTKHDJ8HDUF78PFWH30</counterpartyLei>
            </counterparties>
            <amtCurSold>-14356529.51000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>265000000.00000000</amtCurPur>
            <curPur>MXN</curPur>
            <settlementDt>2026-04-29</settlementDt>
            <unrealizedAppr>205142.72000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hang Lung Group Ltd</name>
        <lei>529900V2T2EPOQYH0981</lei>
        <title>Hang Lung Group Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="HK0010000088"/>
          <ticker value="10"/>
          <other otherDesc="SEDOL" value="6408352"/>
        </identifiers>
        <balance>7965154.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.78350000"/>
        <valUSD>15595676.36000000</valUSD>
        <pctVal>0.372266717536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DHL GROUP</name>
        <lei>8ER8GIG7CSMVD8VUFE78</lei>
        <title>DHL GROUP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0005552004"/>
          <ticker value="DHL"/>
          <other otherDesc="SEDOL" value="4617859"/>
        </identifiers>
        <balance>2644654.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85146238"/>
        <valUSD>145144029.09000000</valUSD>
        <pctVal>3.464568642748</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dentium Co Ltd</name>
        <lei>N/A</lei>
        <title>Dentium Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KR7145720009"/>
          <ticker value="145720"/>
          <other otherDesc="SEDOL" value="BF07GJ6"/>
        </identifiers>
        <balance>276537.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1440.55000000"/>
        <valUSD>8868841.35000000</valUSD>
        <pctVal>0.211698061789</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-02-24</ncom:dateSigned>
      <ncom:nameOfApplicant>Tweedy, Browne Fund Inc.</ncom:nameOfApplicant>
      <ncom:signature>Dominick Merlucci</ncom:signature>
      <ncom:signerName>Dominick Merlucci</ncom:signerName>
      <ncom:title>Director, Mutual Fund Accounting</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
