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          <ccc>XXXXXXXX</ccc>
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      <regZipOrPostalCode>60603</regZipOrPostalCode>
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      <seriesName>International Equity Fund</seriesName>
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      <repPdEnd>2026-03-31</repPdEnd>
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      <isFinalFiling>N</isFinalFiling>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SOFTBANK CORP</name>
        <lei>353800M1YCTS9JRBJ535</lei>
        <title>SOFTBANK CORP</title>
        <cusip>J75963132</cusip>
        <identifiers>
          <isin value="JP3732000009"/>
          <ticker value="SFBQF"/>
        </identifiers>
        <balance>1122600</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>1498158.64</valUSD>
        <pctVal>0.7943409416</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GSK PLC</name>
        <lei>5493000HZTVUYLO1D793</lei>
        <title>GSK PLC</title>
        <cusip>G3910J179</cusip>
        <identifiers>
          <isin value="GB00BN7SWP63"/>
          <ticker value="GLAXF"/>
        </identifiers>
        <balance>96909</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7555152"/>
        <valUSD>2657715.61</valUSD>
        <pctVal>1.4091513835</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KONGSBERG GRUPPEN ASA</name>
        <lei>5967007LIEEXZXJ9HK73</lei>
        <title>KONGSBERG GRUPPEN ASA</title>
        <cusip>R60837151</cusip>
        <identifiers>
          <isin value="NO0013536151"/>
          <ticker value="NSKFF"/>
        </identifiers>
        <balance>759</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.6829"/>
        <valUSD>32499.02</valUSD>
        <pctVal>0.0172313542</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPOTIFY TECH. SA</name>
        <lei>549300B4X0JHWV0DTD60</lei>
        <title>SPOTIFY TECH. SA</title>
        <cusip>L8681T102</cusip>
        <identifiers>
          <isin value="LU1778762911"/>
          <ticker value="SPOT"/>
        </identifiers>
        <balance>304</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>147412.64</valUSD>
        <pctVal>0.0781598772</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CGI INC</name>
        <lei>549300WSRCZY73ZG3090</lei>
        <title>CGI INC</title>
        <cusip>12532H104</cusip>
        <identifiers>
          <isin value="CA12532H1047"/>
          <ticker value="GIB"/>
        </identifiers>
        <balance>13459</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>983955.36</valUSD>
        <pctVal>0.5217044486</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>FUTU HLDGS. LTD ADR</name>
        <lei>213800X4W4ZRESFPTQ37</lei>
        <title>FUTU HLDGS. LTD ADR</title>
        <cusip>36118L106</cusip>
        <identifiers>
          <isin value="US36118L1061"/>
          <ticker value="FUTU"/>
        </identifiers>
        <balance>7018</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>959781.68</valUSD>
        <pctVal>0.5088872854</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ROCHE HLDG. AG</name>
        <lei>549300U41AUUVOAAOB37</lei>
        <title>ROCHE HLDG. AG</title>
        <cusip>H69293266</cusip>
        <identifiers>
          <isin value="CH1499059983"/>
          <ticker value="RHHVF"/>
        </identifiers>
        <balance>9471</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt=".7996"/>
        <valUSD>3739774.46</valUSD>
        <pctVal>1.9828714308</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EVOLUTION AB</name>
        <lei>549300SUH6ZR1RF6TA88</lei>
        <title>EVOLUTION AB</title>
        <cusip>W3287P115</cusip>
        <identifiers>
          <isin value="SE0012673267"/>
          <ticker value="EVGGF"/>
        </identifiers>
        <balance>8721</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.46665"/>
        <valUSD>543897.18</valUSD>
        <pctVal>0.2883805403</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SIEMENS ENERGY AG</name>
        <lei>5299005CHJZ14D4FDJ62</lei>
        <title>SIEMENS ENERGY AG</title>
        <cusip>D6T47E106</cusip>
        <identifiers>
          <isin value="DE000ENER6Y0"/>
          <ticker value="SMEGF"/>
        </identifiers>
        <balance>3656</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>601688.19</valUSD>
        <pctVal>0.3190219985</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>VESTAS WIND SYS. A/S</name>
        <lei>549300DYMC8BGZZC8844</lei>
        <title>VESTAS WIND SYS. A/S</title>
        <cusip>K9773J201</cusip>
        <identifiers>
          <isin value="DK0061539921"/>
          <ticker value="VWSYF"/>
        </identifiers>
        <balance>25635</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.4652"/>
        <valUSD>767524.91</valUSD>
        <pctVal>0.4069505348</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DASSAULT AVIATION SA</name>
        <lei>969500CVFTUT88V8QN95</lei>
        <title>DASSAULT AVIATION SA</title>
        <cusip>F24539169</cusip>
        <identifiers>
          <isin value="FR0014004L86"/>
          <ticker value="DUAVF"/>
        </identifiers>
        <balance>1210</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>448788.78</valUSD>
        <pctVal>0.2379529728</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NATWEST GROUP PLC</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NATWEST GROUP PLC</title>
        <cusip>G6422B147</cusip>
        <identifiers>
          <isin value="GB00BM8PJY71"/>
          <ticker value="RBSPF"/>
        </identifiers>
        <balance>139336</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7555152"/>
        <valUSD>1033880.51</valUSD>
        <pctVal>0.5481753373</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHELL PLC</name>
        <lei>21380068P1DRHMJ8KU70</lei>
        <title>SHELL PLC</title>
        <cusip>G80827101</cusip>
        <identifiers>
          <isin value="GB00BP6MXD84"/>
          <ticker value="RYDAF"/>
        </identifiers>
        <balance>78006</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7555152"/>
        <valUSD>3642631.68</valUSD>
        <pctVal>1.9313652116</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EXOR NV</name>
        <lei>5493002ENHZ6NYET7405</lei>
        <title>EXOR NV</title>
        <cusip>N3140A107</cusip>
        <identifiers>
          <isin value="NL0012059018"/>
          <ticker value="EXXRF"/>
        </identifiers>
        <balance>9995</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>766034.94</valUSD>
        <pctVal>0.4061605356</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>
      <invstOrSec>
        <name>BOMBARDIER INC</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
        <title>BOMBARDIER INC</title>
        <cusip>097751861</cusip>
        <identifiers>
          <isin value="CA0977518616"/>
          <ticker value="BDRBF"/>
        </identifiers>
        <balance>1374</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>242995.82</valUSD>
        <pctVal>0.1288391785</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>BARRICK MINING CORP</name>
        <lei>0O4KBQCJZX82UKGCBV73</lei>
        <title>BARRICK MINING CORP</title>
        <cusip>06849F108</cusip>
        <identifiers>
          <isin value="CA06849F1080"/>
          <ticker value="B"/>
        </identifiers>
        <balance>35290</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>1442194.31</valUSD>
        <pctVal>0.7646680102</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>AENA SME SA</name>
        <lei>959800R7QMXKF0NFMT29</lei>
        <title>AENA SME SA</title>
        <cusip>E526LK101</cusip>
        <identifiers>
          <isin value="ES0105046017"/>
          <ticker value="ANNSF"/>
        </identifiers>
        <balance>53317</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>1587526.85</valUSD>
        <pctVal>0.8417249944</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOVO NORDISK A/S</name>
        <lei>549300DAQ1CVT6CXN342</lei>
        <title>NOVO NORDISK A/S</title>
        <cusip>K72807140</cusip>
        <identifiers>
          <isin value="DK0062498333"/>
          <ticker value="NONOF"/>
        </identifiers>
        <balance>11444</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.4652"/>
        <valUSD>421702</valUSD>
        <pctVal>0.2235912505</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SMITH &amp; NEPHEW PLC ORD US</name>
        <lei>213800ZTMDN8S67S1H61</lei>
        <title>SMITH &amp; NEPHEW PLC ORD US</title>
        <cusip>G82343164</cusip>
        <identifiers>
          <isin value="GB0009223206"/>
          <ticker value="SNNUF"/>
        </identifiers>
        <balance>16221</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7555152"/>
        <valUSD>256236.18</valUSD>
        <pctVal>0.1358593697</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IMPERIAL BRANDS PLC</name>
        <lei>549300DFVPOB67JL3A42</lei>
        <title>IMPERIAL BRANDS PLC</title>
        <cusip>G4720C107</cusip>
        <identifiers>
          <isin value="GB0004544929"/>
          <ticker value="IMBBF"/>
        </identifiers>
        <balance>43518</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7555152"/>
        <valUSD>1771158.4</valUSD>
        <pctVal>0.9390885542</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PRUDENTIAL PLC GBP0.05</name>
        <lei>5493001Z3ZE83NGK8Y12</lei>
        <title>PRUDENTIAL PLC GBP0.05</title>
        <cusip>G72899100</cusip>
        <identifiers>
          <isin value="GB0007099541"/>
          <ticker value="PUKPF"/>
        </identifiers>
        <balance>100354</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7555152"/>
        <valUSD>1399469.49</valUSD>
        <pctVal>0.7420148193</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KONINKLIJKE AHOLD DELHAIZ</name>
        <lei>724500C9GNBV20UYRX36</lei>
        <title>KONINKLIJKE AHOLD DELHAIZ</title>
        <cusip>N0074E105</cusip>
        <identifiers>
          <isin value="NL0011794037"/>
          <ticker value="AHODF"/>
        </identifiers>
        <balance>37640</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>1757178.48</valUSD>
        <pctVal>0.9316762399</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>
      <invstOrSec>
        <name>ARCELORMITTAL SA</name>
        <lei>2EULGUTUI56JI9SAL165</lei>
        <title>ARCELORMITTAL SA</title>
        <cusip>L0302D210</cusip>
        <identifiers>
          <isin value="LU1598757687"/>
          <ticker value="AMSYF"/>
        </identifiers>
        <balance>6505</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>338920.47</valUSD>
        <pctVal>0.1796995312</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CK INFRA. HLDGS. LTD</name>
        <lei>5299005U11RQ1C27MR12</lei>
        <title>CK INFRA. HLDGS. LTD</title>
        <cusip>G2178K100</cusip>
        <identifiers>
          <isin value="BMG2178K1009"/>
          <ticker value="CKISF"/>
        </identifiers>
        <balance>30105</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.8412"/>
        <valUSD>240279.9</valUSD>
        <pctVal>0.1273991665</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHOPIFY INC CL A SUB VTG</name>
        <lei>549300HGQ43STJLLP808</lei>
        <title>SHOPIFY INC CL A SUB VTG</title>
        <cusip>82509L107</cusip>
        <identifiers>
          <isin value="CA82509L1076"/>
          <ticker value="SHOP"/>
        </identifiers>
        <balance>1176</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>139537.46</valUSD>
        <pctVal>0.0739843661</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>CK ASSET HLDGS. LTD</name>
        <lei>5299006GJZSGP78B8S35</lei>
        <title>CK ASSET HLDGS. LTD</title>
        <cusip>G2177B101</cusip>
        <identifiers>
          <isin value="KYG2177B1014"/>
          <ticker value="CHKGF"/>
        </identifiers>
        <balance>123752</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.8412"/>
        <valUSD>706892.17</valUSD>
        <pctVal>0.3748023587</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JAPAN POST INS. CO LTD</name>
        <lei>54930042SK2Z708BA841</lei>
        <title>JAPAN POST INS. CO LTD</title>
        <cusip>J2800E107</cusip>
        <identifiers>
          <isin value="JP3233250004"/>
          <ticker value="JPPIF"/>
        </identifiers>
        <balance>58500</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>591010.06</valUSD>
        <pctVal>0.3133603312</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANCA MEDIOLANUM SPA</name>
        <lei>7LVZJ6XRIE7VNZ4UBX81</lei>
        <title>BANCA MEDIOLANUM SPA</title>
        <cusip>T1R88K108</cusip>
        <identifiers>
          <isin value="IT0004776628"/>
          <ticker value="BNMDF"/>
        </identifiers>
        <balance>64669</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>1313455.52</valUSD>
        <pctVal>0.6964092231</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WISETECH GBL. LTD</name>
        <lei>254900VE3AF301Q85K83</lei>
        <title>WISETECH GBL. LTD</title>
        <cusip>Q98056106</cusip>
        <identifiers>
          <isin value="AU000000WTC3"/>
          <ticker value="WTCHF"/>
        </identifiers>
        <balance>7367</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4493803"/>
        <valUSD>201074.54</valUSD>
        <pctVal>0.1066120337</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEMANT A/S</name>
        <lei>213800RM6L9LN78BVA56</lei>
        <title>DEMANT A/S</title>
        <cusip>K3008M105</cusip>
        <identifiers>
          <isin value="DK0060738599"/>
          <ticker value="WILLF"/>
        </identifiers>
        <balance>8719</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.4652"/>
        <valUSD>264986.48</valUSD>
        <pctVal>0.1404988794</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ITALGAS SPA</name>
        <lei>815600F25FF44EF1FA76</lei>
        <title>ITALGAS SPA</title>
        <cusip>T6R89Z103</cusip>
        <identifiers>
          <isin value="IT0005211237"/>
          <ticker value="ITGGF"/>
        </identifiers>
        <balance>8228</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>95836.7</valUSD>
        <pctVal>0.0508137206</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SIEMENS AG</name>
        <lei>W38RGI023J3WT1HWRP32</lei>
        <title>SIEMENS AG</title>
        <cusip>D69671218</cusip>
        <identifiers>
          <isin value="DE0007236101"/>
          <ticker value="SMAWF"/>
        </identifiers>
        <balance>1703</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>403935.18</valUSD>
        <pctVal>0.2141710782</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>ANHEUSER-BUSCH INBEV SA/N</name>
        <lei>5493008H3828EMEXB082</lei>
        <title>ANHEUSER-BUSCH INBEV SA/N</title>
        <cusip>B639CJ108</cusip>
        <identifiers>
          <isin value="BE0974293251"/>
          <ticker value="BUDFF"/>
        </identifiers>
        <balance>31823</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>2208205.74</valUSD>
        <pctVal>1.1708160805</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNICREDIT SPA</name>
        <lei>549300TRUWO2CD2G5692</lei>
        <title>UNICREDIT SPA</title>
        <cusip>T9T23L642</cusip>
        <identifiers>
          <isin value="IT0005239360"/>
          <ticker value="UNCFF"/>
        </identifiers>
        <balance>30338</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>2186078.78</valUSD>
        <pctVal>1.1590841118</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PRO MEDICUS LTD</name>
        <lei>98450085A903D1BMFF27</lei>
        <title>PRO MEDICUS LTD</title>
        <cusip>Q77301101</cusip>
        <identifiers>
          <isin value="AU000000PME8"/>
          <ticker value="PMCUF"/>
        </identifiers>
        <balance>2884</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4493803"/>
        <valUSD>238263.99</valUSD>
        <pctVal>0.1263303078</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LUNDIN GOLD INC</name>
        <lei>549300ZOV16K515FC525</lei>
        <title>LUNDIN GOLD INC</title>
        <cusip>550371108</cusip>
        <identifiers>
          <isin value="CA5503711080"/>
          <ticker value="LUGDF"/>
        </identifiers>
        <balance>7035</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>537625.51</valUSD>
        <pctVal>0.2850552288</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>AMUNDI SA</name>
        <lei>96950010FL2T1TJKR531</lei>
        <title>AMUNDI SA</title>
        <cusip>F0300Q103</cusip>
        <identifiers>
          <isin value="FR0004125920"/>
          <ticker value="AMDUF"/>
        </identifiers>
        <balance>3839</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>330180.37</valUSD>
        <pctVal>0.1750654297</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RYANAIR HLDGS. PLC</name>
        <lei>635400BR2ROC1FVEBQ56</lei>
        <title>RYANAIR HLDGS. PLC</title>
        <cusip>G7727C186</cusip>
        <identifiers>
          <isin value="IE00BYTBXV33"/>
          <ticker value="RYAOF"/>
        </identifiers>
        <balance>33532</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>949976.32</valUSD>
        <pctVal>0.5036883708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANCO COMERCIAL PORTUGUES</name>
        <lei>JU1U6S0DG9YLT7N8ZV32</lei>
        <title>BANCO COMERCIAL PORTUGUES</title>
        <cusip>X03188319</cusip>
        <identifiers>
          <isin value="PTBCP0AM0015"/>
          <ticker value="BPCGF"/>
        </identifiers>
        <balance>28999</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>28428.24</valUSD>
        <pctVal>0.0150729798</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NATIONAL GRID PLC</name>
        <lei>8R95QZMKZLJX5Q2XR704</lei>
        <title>NATIONAL GRID PLC</title>
        <cusip>G6S9A7120</cusip>
        <identifiers>
          <isin value="GB00BDR05C01"/>
          <ticker value="NGGTF"/>
        </identifiers>
        <balance>50082</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7555152"/>
        <valUSD>844329.43</valUSD>
        <pctVal>0.4476731746</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC HLDGS. PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HLDGS. PLC</title>
        <cusip>G4634U169</cusip>
        <identifiers>
          <isin value="GB0005405286"/>
          <ticker value="HBCYF"/>
        </identifiers>
        <balance>21843</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7555152"/>
        <valUSD>357421.93</valUSD>
        <pctVal>0.1895092181</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STANDARD CHARTERED PLC</name>
        <lei>U4LOSYZ7YG4W3S5F2G91</lei>
        <title>STANDARD CHARTERED PLC</title>
        <cusip>G84228157</cusip>
        <identifiers>
          <isin value="GB0004082847"/>
          <ticker value="SCBFF"/>
        </identifiers>
        <balance>25047</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7555152"/>
        <valUSD>520172.01</valUSD>
        <pctVal>0.2758011823</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CENTRICA PLC</name>
        <lei>E26EDV109X6EEPBKVH76</lei>
        <title>CENTRICA PLC</title>
        <cusip>G2018Z143</cusip>
        <identifiers>
          <isin value="GB00B033F229"/>
          <ticker value="CPYYF"/>
        </identifiers>
        <balance>80095</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7555152"/>
        <valUSD>226558.13</valUSD>
        <pctVal>0.1201237262</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RIO TINTO PLC</name>
        <lei>213800YOEO5OQ72G2R82</lei>
        <title>RIO TINTO PLC</title>
        <cusip>G75754104</cusip>
        <identifiers>
          <isin value="GB0007188757"/>
          <ticker value="RTPPF"/>
        </identifiers>
        <balance>28656</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7555152"/>
        <valUSD>2663626.01</valUSD>
        <pctVal>1.4122851456</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NESTLE SA</name>
        <lei>KY37LUS27QQX7BB93L28</lei>
        <title>NESTLE SA</title>
        <cusip>H57312649</cusip>
        <identifiers>
          <isin value="CH0038863350"/>
          <ticker value="NSRGF"/>
        </identifiers>
        <balance>7237</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt=".7996"/>
        <valUSD>717830.38</valUSD>
        <pctVal>0.3806019234</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SEIBU HLDGS. INC</name>
        <lei>353800JY9TYV9WTCN620</lei>
        <title>SEIBU HLDGS. INC</title>
        <cusip>J7030Q119</cusip>
        <identifiers>
          <isin value="JP3417200007"/>
          <ticker value="SEIBF"/>
        </identifiers>
        <balance>2000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>55847.99</valUSD>
        <pctVal>0.0296112466</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AIA GRP. LTD</name>
        <lei>ZP5ILWVSYE4LJGMMVD57</lei>
        <title>AIA GRP. LTD</title>
        <cusip>Y002A1105</cusip>
        <identifiers>
          <isin value="HK0000069689"/>
          <ticker value="AAIGF"/>
        </identifiers>
        <balance>39062</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.8412"/>
        <valUSD>438816.61</valUSD>
        <pctVal>0.2326656136</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WARTSILA OYJ ABP</name>
        <lei>743700G7A9J1PHM3X223</lei>
        <title>WARTSILA OYJ ABP</title>
        <cusip>X98155116</cusip>
        <identifiers>
          <isin value="FI0009003727"/>
          <ticker value="WRTBF"/>
        </identifiers>
        <balance>41574</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>1554521.73</valUSD>
        <pctVal>0.8242253002</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KBC GRP. NV</name>
        <lei>213800X3Q9LSAKRUWY91</lei>
        <title>KBC GRP. NV</title>
        <cusip>B5337G162</cusip>
        <identifiers>
          <isin value="BE0003565737"/>
          <ticker value="KBCSF"/>
        </identifiers>
        <balance>5416</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>662074.72</valUSD>
        <pctVal>0.3510396312</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EIFFAGE SA</name>
        <lei>969500OQXKE5WDM9M994</lei>
        <title>EIFFAGE SA</title>
        <cusip>F2924U106</cusip>
        <identifiers>
          <isin value="FR0000130452"/>
          <ticker value="EFGSF"/>
        </identifiers>
        <balance>7197</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>1104978.95</valUSD>
        <pctVal>0.5858725479</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAP SE</name>
        <lei>529900D6BF99LW9R2E68</lei>
        <title>SAP SE</title>
        <cusip>D66992104</cusip>
        <identifiers>
          <isin value="DE0007164600"/>
          <ticker value="SAPGF"/>
        </identifiers>
        <balance>2067</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>349804.69</valUSD>
        <pctVal>0.1854704698</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>BOUYGUES SA</name>
        <lei>969500MOCLNQFNZN0D63</lei>
        <title>BOUYGUES SA</title>
        <cusip>F11487125</cusip>
        <identifiers>
          <isin value="FR0000120503"/>
          <ticker value="BOUYF"/>
        </identifiers>
        <balance>11152</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>643387.5</valUSD>
        <pctVal>0.3411314523</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LVMH MOET HENNESSY LOUIS</name>
        <lei>IOG4E947OATN0KJYSD45</lei>
        <title>LVMH MOET HENNESSY LOUIS</title>
        <cusip>F58485115</cusip>
        <identifiers>
          <isin value="FR0000121014"/>
          <ticker value="LVMHF"/>
        </identifiers>
        <balance>224</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>124513.78</valUSD>
        <pctVal>0.0660186382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAFRAN SA</name>
        <lei>969500UIC89GT3UL7L24</lei>
        <title>SAFRAN SA</title>
        <cusip>F4035A557</cusip>
        <identifiers>
          <isin value="FR0000073272"/>
          <ticker value="SAFRF"/>
        </identifiers>
        <balance>5428</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>1775189.42</valUSD>
        <pctVal>0.9412258474</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EDP S.A EUR1</name>
        <lei>529900CLC3WDMGI9VH80</lei>
        <title>EDP S.A EUR1</title>
        <cusip>X67925119</cusip>
        <identifiers>
          <isin value="PTEDP0AM0009"/>
          <ticker value="ELCPF"/>
        </identifiers>
        <balance>16528</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>87504.83</valUSD>
        <pctVal>0.0463960673</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PUBLICIS GROUPE SA</name>
        <lei>2138004KW8BV57III342</lei>
        <title>PUBLICIS GROUPE SA</title>
        <cusip>F7607Z165</cusip>
        <identifiers>
          <isin value="FR0000130577"/>
          <ticker value="PGPEF"/>
        </identifiers>
        <balance>9526</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>787809.19</valUSD>
        <pctVal>0.4177054933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE POST AG</name>
        <lei>8ER8GIG7CSMVD8VUFE78</lei>
        <title>DEUTSCHE POST AG</title>
        <cusip>D19225107</cusip>
        <identifiers>
          <isin value="DE0005552004"/>
          <ticker value="DPSTF"/>
        </identifiers>
        <balance>35693</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>1840730.4</valUSD>
        <pctVal>0.9759764288</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>RWE AG</name>
        <lei>529900GB7KCA94ACC940</lei>
        <title>RWE AG</title>
        <cusip>D6629K109</cusip>
        <identifiers>
          <isin value="DE0007037129"/>
          <ticker value="RWNFF"/>
        </identifiers>
        <balance>6137</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>408747.3</valUSD>
        <pctVal>0.2167225196</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>LUNDIN MINING CORP</name>
        <lei>549300FQDIM6C8HTN269</lei>
        <title>LUNDIN MINING CORP</title>
        <cusip>550372106</cusip>
        <identifiers>
          <isin value="CA5503721063"/>
          <ticker value="LUNMF"/>
        </identifiers>
        <balance>7220</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>180045.86</valUSD>
        <pctVal>0.0954623857</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>HOCHTIEF AG</name>
        <lei>529900Y25S8NZIYTT924</lei>
        <title>HOCHTIEF AG</title>
        <cusip>D33134103</cusip>
        <identifiers>
          <isin value="DE0006070006"/>
          <ticker value="HOCFF"/>
        </identifiers>
        <balance>1213</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>533484.12</valUSD>
        <pctVal>0.2828594162</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>H &amp; M HENNES &amp; MAURITZ AB</name>
        <lei>529900O5RR7R39FRDM42</lei>
        <title>H &amp; M HENNES &amp; MAURITZ AB</title>
        <cusip>W41422101</cusip>
        <identifiers>
          <isin value="SE0000106270"/>
          <ticker value="HMRZF"/>
        </identifiers>
        <balance>83128</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.46665"/>
        <valUSD>1549795.19</valUSD>
        <pctVal>0.8217192343</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALTAGAS LTD</name>
        <lei>2549008X5V70MOS4HM10</lei>
        <title>ALTAGAS LTD</title>
        <cusip>021361100</cusip>
        <identifiers>
          <isin value="CA0213611001"/>
          <ticker value="ATGFF"/>
        </identifiers>
        <balance>156</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>5410.83</valUSD>
        <pctVal>0.0028688843</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>DEUTSCHE BOERSE AG</name>
        <lei>529900G3SW56SHYNPR95</lei>
        <title>DEUTSCHE BOERSE AG</title>
        <cusip>D1882G119</cusip>
        <identifiers>
          <isin value="DE0005810055"/>
          <ticker value="DBOEF"/>
        </identifiers>
        <balance>909</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>264279.08</valUSD>
        <pctVal>0.1401238078</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>AXA SA</name>
        <lei>F5WCUMTUM4RKZ1MAIE39</lei>
        <title>AXA SA</title>
        <cusip>F06106102</cusip>
        <identifiers>
          <isin value="FR0000120628"/>
          <ticker value="AXAHF"/>
        </identifiers>
        <balance>27504</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>1260939.29</valUSD>
        <pctVal>0.6685645140</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BNP PARIBAS SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP PARIBAS SA</title>
        <cusip>F1058Q238</cusip>
        <identifiers>
          <isin value="FR0000131104"/>
          <ticker value="BNPQF"/>
        </identifiers>
        <balance>10819</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>1030628.74</valUSD>
        <pctVal>0.5464512115</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SONOVA HOLDING AG CHF0.05</name>
        <lei>5299004A0QNX7FBNHS61</lei>
        <title>SONOVA HOLDING AG CHF0.05</title>
        <cusip>H8024W106</cusip>
        <identifiers>
          <isin value="CH0012549785"/>
          <ticker value="SONVF"/>
        </identifiers>
        <balance>481</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt=".7996"/>
        <valUSD>109029.8</valUSD>
        <pctVal>0.0578088539</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KLEPIERRE SA</name>
        <lei>969500PB4U31KEFHZ621</lei>
        <title>KLEPIERRE SA</title>
        <cusip>F5396X102</cusip>
        <identifiers>
          <isin value="FR0000121964"/>
          <ticker value="KLPEF"/>
        </identifiers>
        <balance>7448</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>280722.94</valUSD>
        <pctVal>0.1488425315</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EQUINOR ASA</name>
        <lei>OW6OFBNCKXC4US5C7523</lei>
        <title>EQUINOR ASA</title>
        <cusip>R2R90P103</cusip>
        <identifiers>
          <isin value="NO0010096985"/>
          <ticker value="STOHF"/>
        </identifiers>
        <balance>50073</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.6829"/>
        <valUSD>2119395.62</valUSD>
        <pctVal>1.1237279334</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IBERDROLA SA</name>
        <lei>5QK37QC7NWOJ8D7WVQ45</lei>
        <title>IBERDROLA SA</title>
        <cusip>E6165F166</cusip>
        <identifiers>
          <isin value="ES0144580Y14"/>
          <ticker value="IBDSF"/>
        </identifiers>
        <balance>40828</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>937236.32</valUSD>
        <pctVal>0.4969334763</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CAIXABANK SA</name>
        <lei>7CUNS533WID6K7DGFI87</lei>
        <title>CAIXABANK SA</title>
        <cusip>E2427M123</cusip>
        <identifiers>
          <isin value="ES0140609019"/>
          <ticker value="CIXPF"/>
        </identifiers>
        <balance>49720</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>596560.12</valUSD>
        <pctVal>0.3163030368</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BUREAU VERITAS SA</name>
        <lei>969500TPU5T3HA5D1F11</lei>
        <title>BUREAU VERITAS SA</title>
        <cusip>F96888114</cusip>
        <identifiers>
          <isin value="FR0006174348"/>
          <ticker value="BVRDF"/>
        </identifiers>
        <balance>36005</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>1081569.08</valUSD>
        <pctVal>0.5734603656</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MS&amp;AD INS. GRP. HLDGS. IN</name>
        <lei>529900CXROT5S2HMMP26</lei>
        <title>MS&amp;AD INS. GRP. HLDGS. IN</title>
        <cusip>J4687C105</cusip>
        <identifiers>
          <isin value="JP3890310000"/>
          <ticker value="MSADF"/>
        </identifiers>
        <balance>50700</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>1326792.25</valUSD>
        <pctVal>0.7034805107</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ADIDAS AG NPV</name>
        <lei>549300JSX0Z4CW0V5023</lei>
        <title>ADIDAS AG NPV</title>
        <cusip>D0066B185</cusip>
        <identifiers>
          <isin value="DE000A1EWWW0"/>
          <ticker value="ADDDF"/>
        </identifiers>
        <balance>2971</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>468188.5</valUSD>
        <pctVal>0.2482389275</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>OTSUKA HLDGS. CO LTD</name>
        <lei>N/A</lei>
        <title>OTSUKA HLDGS. CO LTD</title>
        <cusip>J63117105</cusip>
        <identifiers>
          <isin value="JP3188220002"/>
          <ticker value="OTSKF"/>
        </identifiers>
        <balance>11700</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>825863.03</valUSD>
        <pctVal>0.4378820770</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SITC INTL. HLDGS. CO LTD</name>
        <lei>529900JUV4MOM9CE3V12</lei>
        <title>SITC INTL. HLDGS. CO LTD</title>
        <cusip>G8187G105</cusip>
        <identifiers>
          <isin value="KYG8187G1055"/>
          <ticker value="SITIF"/>
        </identifiers>
        <balance>32702</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.8412"/>
        <valUSD>144369.85</valUSD>
        <pctVal>0.0765465549</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ROLLS-ROYCE HLDGS. PLC</name>
        <lei>213800EC7997ZBLZJH69</lei>
        <title>ROLLS-ROYCE HLDGS. PLC</title>
        <cusip>G76225104</cusip>
        <identifiers>
          <isin value="GB00B63H8491"/>
          <ticker value="RYCEF"/>
        </identifiers>
        <balance>56217</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7555152"/>
        <valUSD>858486.98</valUSD>
        <pctVal>0.4551796705</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COMPAGNIE FINANCIERE RICH</name>
        <lei>549300YIPGJ6UX2QPS51</lei>
        <title>COMPAGNIE FINANCIERE RICH</title>
        <cusip>H25662182</cusip>
        <identifiers>
          <isin value="CH0210483332"/>
          <ticker value="CFRHF"/>
        </identifiers>
        <balance>1063</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt=".7996"/>
        <valUSD>189419.02</valUSD>
        <pctVal>0.1004321430</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GILDAN ACTIVEWEAR INC</name>
        <lei>549300SB3IBI34M00Z45</lei>
        <title>GILDAN ACTIVEWEAR INC</title>
        <cusip>375916103</cusip>
        <identifiers>
          <isin value="CA3759161035"/>
          <ticker value="GIL"/>
        </identifiers>
        <balance>2287</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>127362.44</valUSD>
        <pctVal>0.0675290305</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>CANADIAN IMPERIAL BANK OF</name>
        <lei>2IGI19DL77OX0HC3ZE78</lei>
        <title>CANADIAN IMPERIAL BANK OF</title>
        <cusip>136069101</cusip>
        <identifiers>
          <isin value="CA1360691010"/>
          <ticker value="CM"/>
        </identifiers>
        <balance>16550</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>1568508.37</valUSD>
        <pctVal>0.8316411776</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>CANADIAN NATURAL RES. LTD</name>
        <lei>549300T15RIMIKZC5Q38</lei>
        <title>CANADIAN NATURAL RES. LTD</title>
        <cusip>136385101</cusip>
        <identifiers>
          <isin value="CA1363851017"/>
          <ticker value="CNQ"/>
        </identifiers>
        <balance>47797</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>2331611.26</valUSD>
        <pctVal>1.2362471065</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>EMPIRE CO LTD</name>
        <lei>549300TX0ZUSTEF7C719</lei>
        <title>EMPIRE CO LTD</title>
        <cusip>291843407</cusip>
        <identifiers>
          <isin value="CA2918434077"/>
          <ticker value="EMLAF"/>
        </identifiers>
        <balance>15209</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>544795.1</valUSD>
        <pctVal>0.2888566279</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>SBI HOLDINGS INC</name>
        <lei>353800L6LMHYIPSMRQ17</lei>
        <title>SBI HOLDINGS INC</title>
        <cusip>J6991H100</cusip>
        <identifiers>
          <isin value="JP3436120004"/>
          <ticker value="SBHGF"/>
        </identifiers>
        <balance>65700</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>1223821.56</valUSD>
        <pctVal>0.6488842666</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FORTESCUE LTD NPV</name>
        <lei>529900VEJFORCO6I4826</lei>
        <title>FORTESCUE LTD NPV</title>
        <cusip>Q39360104</cusip>
        <identifiers>
          <isin value="AU000000FMG4"/>
          <ticker value="FSUMF"/>
        </identifiers>
        <balance>129053</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4493803"/>
        <valUSD>1823004.15</valUSD>
        <pctVal>0.9665777672</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MITSUBISHI CHEM. GRP. COR</name>
        <lei>353800YNKX4RQUGAR072</lei>
        <title>MITSUBISHI CHEM. GRP. COR</title>
        <cusip>J44046100</cusip>
        <identifiers>
          <isin value="JP3897700005"/>
          <ticker value="MTLHF"/>
        </identifiers>
        <balance>37900</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>219480.1</valUSD>
        <pctVal>0.1163708733</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CSL LTD</name>
        <lei>529900ECSECK5ZDQTE14</lei>
        <title>CSL LTD</title>
        <cusip>Q3018U109</cusip>
        <identifiers>
          <isin value="AU000000CSL8"/>
          <ticker value="CMXHF"/>
        </identifiers>
        <balance>6701</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4493803"/>
        <valUSD>658295.94</valUSD>
        <pctVal>0.3490360786</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRITISH AMERICAN TOBACCO</name>
        <lei>213800FKA5MF17RJKT63</lei>
        <title>BRITISH AMERICAN TOBACCO</title>
        <cusip>G1510J102</cusip>
        <identifiers>
          <isin value="GB0002875804"/>
          <ticker value="BTAFF"/>
        </identifiers>
        <balance>17949</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7555152"/>
        <valUSD>1045541.65</valUSD>
        <pctVal>0.5543582079</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SMITHS GRP. PLC</name>
        <lei>213800MJL6IPZS3ASA11</lei>
        <title>SMITHS GRP. PLC</title>
        <cusip>G82401111</cusip>
        <identifiers>
          <isin value="GB00B1WY2338"/>
          <ticker value="SMGKF"/>
        </identifiers>
        <balance>31101</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7555152"/>
        <valUSD>947272.83</valUSD>
        <pctVal>0.5022549493</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SSE PLC</name>
        <lei>549300KI75VYLLMSK856</lei>
        <title>SSE PLC</title>
        <cusip>G8842P102</cusip>
        <identifiers>
          <isin value="GB0007908733"/>
          <ticker value="SSEZF"/>
        </identifiers>
        <balance>3307</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7555152"/>
        <valUSD>114170.99</valUSD>
        <pctVal>0.0605347720</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASTRAZENECA PLC DI</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>ASTRAZENECA PLC DI</title>
        <cusip>G0593M107</cusip>
        <identifiers>
          <isin value="GB0009895292"/>
          <ticker value="AZN"/>
        </identifiers>
        <balance>2644</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7555152"/>
        <valUSD>516420.91</valUSD>
        <pctVal>0.2738123060</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUNCOR ENERGY INC</name>
        <lei>894500XO86FKXQGPYV71</lei>
        <title>SUNCOR ENERGY INC</title>
        <cusip>867224107</cusip>
        <identifiers>
          <isin value="CA8672241079"/>
          <ticker value="SU"/>
        </identifiers>
        <balance>30248</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>2000660.25</valUSD>
        <pctVal>1.0607730747</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>ACS ACTIVIDADES DE CONSTR</name>
        <lei>95980020140005558665</lei>
        <title>ACS ACTIVIDADES DE CONSTR</title>
        <cusip>E7813W163</cusip>
        <identifiers>
          <isin value="ES0167050915"/>
          <ticker value="ACSAF"/>
        </identifiers>
        <balance>6965</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>861866.78</valUSD>
        <pctVal>0.4569716793</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MTU AERO ENGINES AG</name>
        <lei>529900807L67JY81RD65</lei>
        <title>MTU AERO ENGINES AG</title>
        <cusip>D5565H104</cusip>
        <identifiers>
          <isin value="DE000A0D9PT0"/>
          <ticker value="MTUAF"/>
        </identifiers>
        <balance>216</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>77328.77</valUSD>
        <pctVal>0.0410006032</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>NORSK HYDRO ASA</name>
        <lei>549300N1SDN71ZZ8BO45</lei>
        <title>NORSK HYDRO ASA</title>
        <cusip>R61115102</cusip>
        <identifiers>
          <isin value="NO0005052605"/>
          <ticker value="NHYKF"/>
        </identifiers>
        <balance>56146</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.6829"/>
        <valUSD>595336.86</valUSD>
        <pctVal>0.3156544503</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONSTELLATION SOFTWARE IN</name>
        <lei>549300B6PYHMCTDWQV29</lei>
        <title>CONSTELLATION SOFTWARE IN</title>
        <cusip>21037X100</cusip>
        <identifiers>
          <isin value="CA21037X1006"/>
          <ticker value="CNSWF"/>
        </identifiers>
        <balance>180</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>315978.87</valUSD>
        <pctVal>0.1675356310</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>WOLTERS KLUWER NV</name>
        <lei>724500TEM53I0U077B74</lei>
        <title>WOLTERS KLUWER NV</title>
        <cusip>N9643A197</cusip>
        <identifiers>
          <isin value="NL0000395903"/>
          <ticker value="WKL"/>
        </identifiers>
        <balance>5440</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>406967.29</valUSD>
        <pctVal>0.2157787378</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>
      <invstOrSec>
        <name>LOGITECH INTL. SA</name>
        <lei>549300SN6PRK6IJJC215</lei>
        <title>LOGITECH INTL. SA</title>
        <cusip>H50430232</cusip>
        <identifiers>
          <isin value="CH0025751329"/>
          <ticker value="LOGI"/>
        </identifiers>
        <balance>19333</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt=".7996"/>
        <valUSD>1766431.23</valUSD>
        <pctVal>0.9365821543</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AGNICO EAGLE MINES LTD</name>
        <lei>254900BFJ2DOHPMEXN45</lei>
        <title>AGNICO EAGLE MINES LTD</title>
        <cusip>008474108</cusip>
        <identifiers>
          <isin value="CA0084741085"/>
          <ticker value="AEM"/>
        </identifiers>
        <balance>9416</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>1911290.29</valUSD>
        <pctVal>1.0133880940</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>MANULIFE FINL. CORP</name>
        <lei>5493007GBX87QOZACS27</lei>
        <title>MANULIFE FINL. CORP</title>
        <cusip>56501R106</cusip>
        <identifiers>
          <isin value="CA56501R1064"/>
          <ticker value="MFC"/>
        </identifiers>
        <balance>32521</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>1120269.08</valUSD>
        <pctVal>0.5939795507</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>GALP ENERGIA SGPS SA</name>
        <lei>2138003319Y7NM75FG53</lei>
        <title>GALP ENERGIA SGPS SA</title>
        <cusip>X3078L108</cusip>
        <identifiers>
          <isin value="PTGAL0AM0009"/>
          <ticker value="GLPEF"/>
        </identifiers>
        <balance>13146</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>319599.14</valUSD>
        <pctVal>0.1694551398</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASML HLDG. NV</name>
        <lei>724500Y6DUVHQD6OXN27</lei>
        <title>ASML HLDG. NV</title>
        <cusip>N07059202</cusip>
        <identifiers>
          <isin value="NL0010273215"/>
          <ticker value="ASMLF"/>
        </identifiers>
        <balance>3406</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>4508307.57</valUSD>
        <pctVal>2.3903565248</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>
      <invstOrSec>
        <name>ORACLE CORP JAPAN</name>
        <lei>529900MIMKY9RU60Z323</lei>
        <title>ORACLE CORP JAPAN</title>
        <cusip>J6165M109</cusip>
        <identifiers>
          <isin value="JP3689500001"/>
          <ticker value="OCLCF"/>
        </identifiers>
        <balance>7400</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>405297.85</valUSD>
        <pctVal>0.2148935815</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AISIN CORP</name>
        <lei>3538004IOK08PDY6I723</lei>
        <title>AISIN CORP</title>
        <cusip>J00714105</cusip>
        <identifiers>
          <isin value="JP3102000001"/>
          <ticker value="ASEKF"/>
        </identifiers>
        <balance>32600</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>451272.51</valUSD>
        <pctVal>0.2392698750</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COMPUTERSHARE LTD</name>
        <lei>21380085HOKTMGLV9G93</lei>
        <title>COMPUTERSHARE LTD</title>
        <cusip>Q2721E105</cusip>
        <identifiers>
          <isin value="AU000000CPU5"/>
          <ticker value="CMSQF"/>
        </identifiers>
        <balance>5463</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4493803"/>
        <valUSD>107887.75</valUSD>
        <pctVal>0.0572033259</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUNCORP GROUP LTD</name>
        <lei>549300BVOKRTHDIWVT46</lei>
        <title>SUNCORP GROUP LTD</title>
        <cusip>Q88040334</cusip>
        <identifiers>
          <isin value="AU000000SUN6"/>
          <ticker value="SNMYF"/>
        </identifiers>
        <balance>124792</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4493803"/>
        <valUSD>1392202.89</valUSD>
        <pctVal>0.7381619844</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASICS CORP</name>
        <lei>3538002LJMRZ83SU0B85</lei>
        <title>ASICS CORP</title>
        <cusip>J03234150</cusip>
        <identifiers>
          <isin value="JP3118000003"/>
          <ticker value="ASCCF"/>
        </identifiers>
        <balance>9400</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>249957.76</valUSD>
        <pctVal>0.1325304792</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BOC HONG KONG HLDGS. LTD</name>
        <lei>254900JB98W77JDJMW15</lei>
        <title>BOC HONG KONG HLDGS. LTD</title>
        <cusip>Y0920U103</cusip>
        <identifiers>
          <isin value="HK2388011192"/>
          <ticker value="BNKHF"/>
        </identifiers>
        <balance>276354</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.8412"/>
        <valUSD>1522737.85</valUSD>
        <pctVal>0.8073731215</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CANADIAN NATL. RAILWAY CO</name>
        <lei>3SU7BEP7TH9YEQOZCS77</lei>
        <title>CANADIAN NATL. RAILWAY CO</title>
        <cusip>136375102</cusip>
        <identifiers>
          <isin value="CA1363751027"/>
          <ticker value="CNI"/>
        </identifiers>
        <balance>20090</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>2067778.16</valUSD>
        <pctVal>1.0963597625</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>FUJIKURA LTD</name>
        <lei>353800PSDZ8VRCKVPL51</lei>
        <title>FUJIKURA LTD</title>
        <cusip>J14784128</cusip>
        <identifiers>
          <isin value="JP3811000003"/>
          <ticker value="FKURF"/>
        </identifiers>
        <balance>57600</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>1567237.38</valUSD>
        <pctVal>0.8309672841</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ANZ GROUP HOLDINGS LTD</name>
        <lei>9845005D9C6BAA10BK72</lei>
        <title>ANZ GROUP HOLDINGS LTD</title>
        <cusip>Q0429F119</cusip>
        <identifiers>
          <isin value="AU000000ANZ3"/>
          <ticker value="ANZGF"/>
        </identifiers>
        <balance>69816</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4493803"/>
        <valUSD>1755055.14</valUSD>
        <pctVal>0.9305504206</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK LEUMI LE-ISRAEL BM</name>
        <lei>7JDSZWRGUQY2DSTWCR57</lei>
        <title>BANK LEUMI LE-ISRAEL BM</title>
        <cusip>M16043107</cusip>
        <identifiers>
          <isin value="IL0006046119"/>
          <ticker value="BLMIF"/>
        </identifiers>
        <balance>75418</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.1443"/>
        <valUSD>1680709.5</valUSD>
        <pctVal>0.8911315072</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KOMATSU LTD</name>
        <lei>5493004LQ0B4T7QPQV17</lei>
        <title>KOMATSU LTD</title>
        <cusip>J35759125</cusip>
        <identifiers>
          <isin value="JP3304200003"/>
          <ticker value="KMTUF"/>
        </identifiers>
        <balance>35100</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>1377848.35</valUSD>
        <pctVal>0.7305510422</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SANDVIK AB</name>
        <lei>5299008ZUAXN43LVZF54</lei>
        <title>SANDVIK AB</title>
        <cusip>W74857165</cusip>
        <identifiers>
          <isin value="SE0000667891"/>
          <ticker value="SDVKF"/>
        </identifiers>
        <balance>9809</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.46665"/>
        <valUSD>374853.64</valUSD>
        <pctVal>0.1987517112</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OVERSEA-CHINESE BANKING C</name>
        <lei>5493007O3QFXCPOGWK22</lei>
        <title>OVERSEA-CHINESE BANKING C</title>
        <cusip>Y64248209</cusip>
        <identifiers>
          <isin value="SG1S04926220"/>
          <ticker value="OVCHF"/>
        </identifiers>
        <balance>124100</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.2857"/>
        <valUSD>2137371.77</valUSD>
        <pctVal>1.1332590949</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CENTRAL JAPAN RAILWAY CO</name>
        <lei>353800YAR3OVUITHTG64</lei>
        <title>CENTRAL JAPAN RAILWAY CO</title>
        <cusip>J05523105</cusip>
        <identifiers>
          <isin value="JP3566800003"/>
          <ticker value="CJPRF"/>
        </identifiers>
        <balance>2200</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>56969.14</valUSD>
        <pctVal>0.0302056932</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ORIX CORP</name>
        <lei>35380016EMHNBOVYE123</lei>
        <title>ORIX CORP</title>
        <cusip>J61933123</cusip>
        <identifiers>
          <isin value="JP3200450009"/>
          <ticker value="ORXCF"/>
        </identifiers>
        <balance>29400</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>880823.14</valUSD>
        <pctVal>0.4670225594</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OSAKA GAS CO LTD</name>
        <lei>353800024KMNOPQRWZ02</lei>
        <title>OSAKA GAS CO LTD</title>
        <cusip>J62320130</cusip>
        <identifiers>
          <isin value="JP3180400008"/>
          <ticker value="OSGSF"/>
        </identifiers>
        <balance>1200</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>48662.27</valUSD>
        <pctVal>0.0258012952</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHUBU ELEC. POWER CO INC</name>
        <lei>529900A76GOP0PGNHT63</lei>
        <title>CHUBU ELEC. POWER CO INC</title>
        <cusip>J06510101</cusip>
        <identifiers>
          <isin value="JP3526600006"/>
          <ticker value="CHUEF"/>
        </identifiers>
        <balance>2500</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>41041.28</valUSD>
        <pctVal>0.0217605587</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CK HUTCHISON HLDGS. LTD</name>
        <lei>254900Z8HM1VEPOQ2G79</lei>
        <title>CK HUTCHISON HLDGS. LTD</title>
        <cusip>G21765105</cusip>
        <identifiers>
          <isin value="KYG217651051"/>
          <ticker value="CKHUF"/>
        </identifiers>
        <balance>28990</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.8412"/>
        <valUSD>222799.72</valUSD>
        <pctVal>0.1181309740</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VERBUND AG</name>
        <lei>5299006UDSEJCTTEJS30</lei>
        <title>VERBUND AG</title>
        <cusip>A91460104</cusip>
        <identifiers>
          <isin value="AT0000746409"/>
          <ticker value="OEZVF"/>
        </identifiers>
        <balance>3596</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>273980.39</valUSD>
        <pctVal>0.1452675539</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CAPGEMINI SE</name>
        <lei>96950077L0TN7BAROX36</lei>
        <title>CAPGEMINI SE</title>
        <cusip>F4973Q101</cusip>
        <identifiers>
          <isin value="FR0000125338"/>
          <ticker value="CAPMF"/>
        </identifiers>
        <balance>9888</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>1155756.61</valUSD>
        <pctVal>0.6127954473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>QBE INS. GRP. LTD</name>
        <lei>549300D2FBW76FPUSG65</lei>
        <title>QBE INS. GRP. LTD</title>
        <cusip>Q78063114</cusip>
        <identifiers>
          <isin value="AU000000QBE9"/>
          <ticker value="QBEIF"/>
        </identifiers>
        <balance>21086</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4493803"/>
        <valUSD>309816.97</valUSD>
        <pctVal>0.1642685208</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SOFTBANK GRP. CORP</name>
        <lei>5493003BZYYYCDIO0R13</lei>
        <title>SOFTBANK GRP. CORP</title>
        <cusip>J7596P109</cusip>
        <identifiers>
          <isin value="JP3436100006"/>
          <ticker value="SFTBF"/>
        </identifiers>
        <balance>20400</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>490296.34</valUSD>
        <pctVal>0.2599607585</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHIONOGI LTD</name>
        <lei>35380049VXDTHZI3DY35</lei>
        <title>SHIONOGI LTD</title>
        <cusip>J74229105</cusip>
        <identifiers>
          <isin value="JP3347200002"/>
          <ticker value="SGIOF"/>
        </identifiers>
        <balance>35500</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>789841.42</valUSD>
        <pctVal>0.4187830051</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SONY GRP. CORP</name>
        <lei>529900R5WX9N2OI2N910</lei>
        <title>SONY GRP. CORP</title>
        <cusip>J76379106</cusip>
        <identifiers>
          <isin value="JP3435000009"/>
          <ticker value="SNEJF"/>
        </identifiers>
        <balance>58000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>1196328.02</valUSD>
        <pctVal>0.6343068755</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FRESENIUS SE KGAA</name>
        <lei>XDFJ0CYCOO1FXRFTQS51</lei>
        <title>FRESENIUS SE KGAA</title>
        <cusip>D27348263</cusip>
        <identifiers>
          <isin value="DE0005785604"/>
          <ticker value="FSNUF"/>
        </identifiers>
        <balance>11437</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>585855.3</valUSD>
        <pctVal>0.3106272181</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>STOCKLAND</name>
        <lei>N/A</lei>
        <title>STOCKLAND</title>
        <cusip>Q8773B105</cusip>
        <identifiers>
          <isin value="AU000000SGP0"/>
          <ticker value="SGP"/>
        </identifiers>
        <balance>142730</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4493803"/>
        <valUSD>427438.16</valUSD>
        <pctVal>0.2266326285</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUMITOMO ELEC. INDS. LTD</name>
        <lei>5493005SP87FL5TOS202</lei>
        <title>SUMITOMO ELEC. INDS. LTD</title>
        <cusip>J77411114</cusip>
        <identifiers>
          <isin value="JP3407400005"/>
          <ticker value="5802"/>
        </identifiers>
        <balance>6600</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>369568.12</valUSD>
        <pctVal>0.1959492677</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUMITOMO CORP</name>
        <lei>V82KK8NH1P0JS71FJC05</lei>
        <title>SUMITOMO CORP</title>
        <cusip>J77282119</cusip>
        <identifiers>
          <isin value="JP3404600003"/>
          <ticker value="SSUMF"/>
        </identifiers>
        <balance>22300</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>829983.8</valUSD>
        <pctVal>0.4400669566</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUZUKI MOTOR CORP</name>
        <lei>353800D83H0V3ZV1SV24</lei>
        <title>SUZUKI MOTOR CORP</title>
        <cusip>J78529138</cusip>
        <identifiers>
          <isin value="JP3397200001"/>
          <ticker value="SZKMF"/>
        </identifiers>
        <balance>61400</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>735631.63</valUSD>
        <pctVal>0.3900403509</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TOKYO GAS CO LTD</name>
        <lei>353800678EIJLOQSWZ83</lei>
        <title>TOKYO GAS CO LTD</title>
        <cusip>J87000113</cusip>
        <identifiers>
          <isin value="JP3573000001"/>
          <ticker value="TKGSF"/>
        </identifiers>
        <balance>600</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>28330.14</valUSD>
        <pctVal>0.0150209661</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASTELLAS PHARMA INC</name>
        <lei>529900IB708DY2HBBB35</lei>
        <title>ASTELLAS PHARMA INC</title>
        <cusip>J03393105</cusip>
        <identifiers>
          <isin value="JP3942400007"/>
          <ticker value="ALPMF"/>
        </identifiers>
        <balance>2600</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>42450.16</valUSD>
        <pctVal>0.0225075631</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>E.ON SE</name>
        <lei>Q9MAIUP40P25UFBFG033</lei>
        <title>E.ON SE</title>
        <cusip>D24914133</cusip>
        <identifiers>
          <isin value="DE000ENAG999"/>
          <ticker value="ENAKF"/>
        </identifiers>
        <balance>7410</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>161958.72</valUSD>
        <pctVal>0.0858723761</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>PANDORA A/S</name>
        <lei>5299007OWYZ6I1E46843</lei>
        <title>PANDORA A/S</title>
        <cusip>K7681L102</cusip>
        <identifiers>
          <isin value="DK0060252690"/>
          <ticker value="PNDZF"/>
        </identifiers>
        <balance>11250</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.4652"/>
        <valUSD>790145.42</valUSD>
        <pctVal>0.4189441894</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOVARTIS AG CHF0.49</name>
        <lei>5493007HIVTX6SY6XD66</lei>
        <title>NOVARTIS AG CHF0.49</title>
        <cusip>H5820Q150</cusip>
        <identifiers>
          <isin value="CH0012005267"/>
          <ticker value="NVSEF"/>
        </identifiers>
        <balance>26353</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt=".7996"/>
        <valUSD>4001163.97</valUSD>
        <pctVal>2.1214631553</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HOLCIM AG</name>
        <lei>529900EHPFPYHV6IQO98</lei>
        <title>HOLCIM AG</title>
        <cusip>H3816Q102</cusip>
        <identifiers>
          <isin value="CH0012214059"/>
          <ticker value="HCMLF"/>
        </identifiers>
        <balance>12948</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt=".7996"/>
        <valUSD>1074464.41</valUSD>
        <pctVal>0.5696933879</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ABB LTD</name>
        <lei>5493000LKVGOO9PELI61</lei>
        <title>ABB LTD</title>
        <cusip>H0010V101</cusip>
        <identifiers>
          <isin value="CH0012221716"/>
          <ticker value="ABLZF"/>
        </identifiers>
        <balance>13311</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt=".7996"/>
        <valUSD>1082619.33</valUSD>
        <pctVal>0.5740172203</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ENEL SPA</name>
        <lei>WOCMU6HCI0OJWNPRZS33</lei>
        <title>ENEL SPA</title>
        <cusip>T3679P115</cusip>
        <identifiers>
          <isin value="IT0003128367"/>
          <ticker value="ENEL"/>
        </identifiers>
        <balance>81828</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>890850.12</valUSD>
        <pctVal>0.4723389795</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MATSUKIYOCOCOKARA &amp; CO</name>
        <lei>N/A</lei>
        <title>MATSUKIYOCOCOKARA &amp; CO</title>
        <cusip>J41208109</cusip>
        <identifiers>
          <isin value="JP3869010003"/>
          <ticker value="MSMKF"/>
        </identifiers>
        <balance>33400</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>533746.49</valUSD>
        <pctVal>0.2829985278</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AP MOLLER - MAERSK A/S</name>
        <lei>549300D2K6PKKKXVNN73</lei>
        <title>AP MOLLER - MAERSK A/S</title>
        <cusip>K0514G101</cusip>
        <identifiers>
          <isin value="DK0010244508"/>
          <ticker value="AMKBF"/>
        </identifiers>
        <balance>195</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.4652"/>
        <valUSD>483259.06</valUSD>
        <pctVal>0.2562295117</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SWEDBANK AB</name>
        <lei>M312WZV08Y7LYUC71685</lei>
        <title>SWEDBANK AB</title>
        <cusip>W94232100</cusip>
        <identifiers>
          <isin value="SE0000242455"/>
          <ticker value="SWDBF"/>
        </identifiers>
        <balance>49709</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.46665"/>
        <valUSD>1687726.43</valUSD>
        <pctVal>0.8948519642</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EVONIK INDS. AG</name>
        <lei>41GUOJQTALQHLF39XJ34</lei>
        <title>EVONIK INDS. AG</title>
        <cusip>D2R90Y117</cusip>
        <identifiers>
          <isin value="DE000EVNK013"/>
          <ticker value="EVKIF"/>
        </identifiers>
        <balance>14028</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>271717.68</valUSD>
        <pctVal>0.1440678390</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>RECRUIT HLDGS. CO LTD</name>
        <lei>353800R2LRSMVVC4I806</lei>
        <title>RECRUIT HLDGS. CO LTD</title>
        <cusip>J6433A101</cusip>
        <identifiers>
          <isin value="JP3970300004"/>
          <ticker value="RCRRF"/>
        </identifiers>
        <balance>23500</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>1016631.57</valUSD>
        <pctVal>0.5390297510</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ZALANDO SE</name>
        <lei>529900YRFFGH5AXU4S86</lei>
        <title>ZALANDO SE</title>
        <cusip>D98423102</cusip>
        <identifiers>
          <isin value="DE000ZAL1111"/>
          <ticker value="ZLDSF"/>
        </identifiers>
        <balance>36902</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>882838.19</valUSD>
        <pctVal>0.4680909621</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>CANADIAN UTILITIES LTD</name>
        <lei>LWV4QIQODEH3VBHUFX07</lei>
        <title>CANADIAN UTILITIES LTD</title>
        <cusip>136717832</cusip>
        <identifiers>
          <isin value="CA1367178326"/>
          <ticker value="CDUAF"/>
        </identifiers>
        <balance>3665</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>128726.83</valUSD>
        <pctVal>0.0682524458</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>CHECK POINT SOFTWARE TECH</name>
        <lei>2549003ZVBH73EPNS513</lei>
        <title>CHECK POINT SOFTWARE TECH</title>
        <cusip>M22465104</cusip>
        <identifiers>
          <isin value="IL0010824113"/>
          <ticker value="CHKP"/>
        </identifiers>
        <balance>7159</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1022663.15</valUSD>
        <pctVal>0.5422277640</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMERA INC</name>
        <lei>NQZVQT2P5IUF2PGA1Q48</lei>
        <title>EMERA INC</title>
        <cusip>290876101</cusip>
        <identifiers>
          <isin value="CA2908761018"/>
          <ticker value="EMA"/>
        </identifiers>
        <balance>6089</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>315633.52</valUSD>
        <pctVal>0.1673525225</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>IMPERIAL OIL LTD</name>
        <lei>549300JZNB745JT5WY51</lei>
        <title>IMPERIAL OIL LTD</title>
        <cusip>453038408</cusip>
        <identifiers>
          <isin value="CA4530384086"/>
          <ticker value="IMO"/>
        </identifiers>
        <balance>7253</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>950017.35</valUSD>
        <pctVal>0.5037101254</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>FAIRFAX FINL. HLDGS. LTD</name>
        <lei>GLS7OQD0WOEDI8YAP031</lei>
        <title>FAIRFAX FINL. HLDGS. LTD</title>
        <cusip>303901102</cusip>
        <identifiers>
          <isin value="CA3039011026"/>
          <ticker value="FRFHF"/>
        </identifiers>
        <balance>1008</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>1717549.11</valUSD>
        <pctVal>0.9106642921</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>TORONTO-DOMINION BANK/THE</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>TORONTO-DOMINION BANK/THE</title>
        <cusip>891160509</cusip>
        <identifiers>
          <isin value="CA8911605092"/>
          <ticker value="TD"/>
        </identifiers>
        <balance>26454</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>2470637.39</valUSD>
        <pctVal>1.3099603596</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>IGM FINL. INC</name>
        <lei>254900RYHLVJNTUFDA95</lei>
        <title>IGM FINL. INC</title>
        <cusip>449586106</cusip>
        <identifiers>
          <isin value="CA4495861060"/>
          <ticker value="IGIFF"/>
        </identifiers>
        <balance>33556</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>1598800.72</valUSD>
        <pctVal>0.8477025300</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>BARCLAYS PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>BARCLAYS PLC</title>
        <cusip>G08036124</cusip>
        <identifiers>
          <isin value="GB0031348658"/>
          <ticker value="BCLYF"/>
        </identifiers>
        <balance>419852</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7555152"/>
        <valUSD>2212388.66</valUSD>
        <pctVal>1.1730339128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEXT PLC</name>
        <lei>213800WQD8ECPZP9PH98</lei>
        <title>NEXT PLC</title>
        <cusip>G6500M106</cusip>
        <identifiers>
          <isin value="GB0032089863"/>
          <ticker value="NXGPF"/>
        </identifiers>
        <balance>7036</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7555152"/>
        <valUSD>1186538.34</valUSD>
        <pctVal>0.6291162746</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COCHLEAR LTD</name>
        <lei>5493001OLLWY8KV5UC08</lei>
        <title>COCHLEAR LTD</title>
        <cusip>Q25953102</cusip>
        <identifiers>
          <isin value="AU000000COH5"/>
          <ticker value="COH"/>
        </identifiers>
        <balance>955</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4493803"/>
        <valUSD>112150.63</valUSD>
        <pctVal>0.0594635539</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DAITO TST. CONSTRUCTION C</name>
        <lei>353800QQ4DRI3KXS3038</lei>
        <title>DAITO TST. CONSTRUCTION C</title>
        <cusip>J11151107</cusip>
        <identifiers>
          <isin value="JP3486800000"/>
          <ticker value="DITTF"/>
        </identifiers>
        <balance>20400</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>475127.31</valUSD>
        <pctVal>0.2519179643</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HOYA CORP</name>
        <lei>353800X4VR3BHEUCJB42</lei>
        <title>HOYA CORP</title>
        <cusip>J22848105</cusip>
        <identifiers>
          <isin value="JP3837800006"/>
          <ticker value="HOCPF"/>
        </identifiers>
        <balance>2400</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>413990.29</valUSD>
        <pctVal>0.2195024132</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KANSAI ELEC. POWER CO INC</name>
        <lei>353800PFUKP5ONPJNZ86</lei>
        <title>KANSAI ELEC. POWER CO INC</title>
        <cusip>J30169106</cusip>
        <identifiers>
          <isin value="JP3228600007"/>
          <ticker value="KAEPF"/>
        </identifiers>
        <balance>7700</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>126829.98</valUSD>
        <pctVal>0.0672467141</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LASERTEC CORP</name>
        <lei>N/A</lei>
        <title>LASERTEC CORP</title>
        <cusip>J38702106</cusip>
        <identifiers>
          <isin value="JP3979200007"/>
          <ticker value="6920"/>
        </identifiers>
        <balance>1500</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>330733.95</valUSD>
        <pctVal>0.1753589441</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>YANGZIJIANG SHIPBUILDING</name>
        <lei>254900Z3JEM14YIGLM66</lei>
        <title>YANGZIJIANG SHIPBUILDING</title>
        <cusip>Y9728A102</cusip>
        <identifiers>
          <isin value="SG1U76934819"/>
          <ticker value="YSHLF"/>
        </identifiers>
        <balance>73400</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.2857"/>
        <valUSD>218106.58</valUSD>
        <pctVal>0.1156426172</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MAKITA CORP</name>
        <lei>529900CDR9E94BCM6294</lei>
        <title>MAKITA CORP</title>
        <cusip>J39584107</cusip>
        <identifiers>
          <isin value="JP3862400003"/>
          <ticker value="MKEWF"/>
        </identifiers>
        <balance>44400</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>1442066.72</valUSD>
        <pctVal>0.7646003605</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ORKLA ASA</name>
        <lei>549300PZS8G8RG6RVZ52</lei>
        <title>ORKLA ASA</title>
        <cusip>R67787102</cusip>
        <identifiers>
          <isin value="NO0003733800"/>
          <ticker value="ORKLF"/>
        </identifiers>
        <balance>74562</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.6829"/>
        <valUSD>937738.71</valUSD>
        <pctVal>0.4971998492</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INDUSTRIVARDEN AB</name>
        <lei>549300TM1DLIQI3B3T37</lei>
        <title>INDUSTRIVARDEN AB</title>
        <cusip>W45430126</cusip>
        <identifiers>
          <isin value="SE0000107203"/>
          <ticker value="INDU C"/>
        </identifiers>
        <balance>482</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.46665"/>
        <valUSD>24005.62</valUSD>
        <pctVal>0.0127280558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GEBERIT AG</name>
        <lei>52990093Z5OHD6T7BS47</lei>
        <title>GEBERIT AG</title>
        <cusip>H2942E124</cusip>
        <identifiers>
          <isin value="CH0030170408"/>
          <ticker value="GBERF"/>
        </identifiers>
        <balance>188</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt=".7996"/>
        <valUSD>127216.3</valUSD>
        <pctVal>0.0674515454</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MITSUBISHI CORP</name>
        <lei>KVIPTY4PULAPGC1VVD26</lei>
        <title>MITSUBISHI CORP</title>
        <cusip>J43830116</cusip>
        <identifiers>
          <isin value="JP3898400001"/>
          <ticker value="MSBHF"/>
        </identifiers>
        <balance>83900</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>2881227.52</valUSD>
        <pctVal>1.5276599689</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DENSO CORP</name>
        <lei>549300RYPA10CQM3QK38</lei>
        <title>DENSO CORP</title>
        <cusip>J12075107</cusip>
        <identifiers>
          <isin value="JP3551500006"/>
          <ticker value="DNZOF"/>
        </identifiers>
        <balance>95500</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>1185735.74</valUSD>
        <pctVal>0.6286907268</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NITTO DENKO CORP</name>
        <lei>3538009GX5P09USH2J25</lei>
        <title>NITTO DENKO CORP</title>
        <cusip>J58472119</cusip>
        <identifiers>
          <isin value="JP3684000007"/>
          <ticker value="NDEKF"/>
        </identifiers>
        <balance>64400</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>1288455.78</valUSD>
        <pctVal>0.6831540734</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DANONE SA</name>
        <lei>969500KMUQ2B6CBAF162</lei>
        <title>DANONE SA</title>
        <cusip>F12033134</cusip>
        <identifiers>
          <isin value="FR0000120644"/>
          <ticker value="GPDNF"/>
        </identifiers>
        <balance>8200</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>658560.08</valUSD>
        <pctVal>0.3491761287</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUN HUNG KAI PROPS. LTD</name>
        <lei>529900LUMD393RD3S874</lei>
        <title>SUN HUNG KAI PROPS. LTD</title>
        <cusip>Y82594121</cusip>
        <identifiers>
          <isin value="HK0016000132"/>
          <ticker value="SUHJF"/>
        </identifiers>
        <balance>39924</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.8412"/>
        <valUSD>676668.17</valUSD>
        <pctVal>0.3587772463</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ADVANTEST CORP</name>
        <lei>353800EMK32PDKS9XR54</lei>
        <title>ADVANTEST CORP</title>
        <cusip>J00210104</cusip>
        <identifiers>
          <isin value="JP3122400009"/>
          <ticker value="ADTTF"/>
        </identifiers>
        <balance>12600</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>1704725.4</valUSD>
        <pctVal>0.9038650136</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WESFARMERS LTD</name>
        <lei>5493003L32ZX9557ST85</lei>
        <title>WESFARMERS LTD</title>
        <cusip>Q95870103</cusip>
        <identifiers>
          <isin value="AU000000WES1"/>
          <ticker value="WFAFF"/>
        </identifiers>
        <balance>14029</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4493803"/>
        <valUSD>711163.75</valUSD>
        <pctVal>0.3770671995</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>YOKOGAWA ELEC. CORP</name>
        <lei>529900MV0U7C9WWF4L22</lei>
        <title>YOKOGAWA ELEC. CORP</title>
        <cusip>J97272124</cusip>
        <identifiers>
          <isin value="JP3955000009"/>
          <ticker value="YOKEF"/>
        </identifiers>
        <balance>14500</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>449153.72</valUSD>
        <pctVal>0.2381464682</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>D IETEREN GROUP</name>
        <lei>549300DV5KJ23OKVTW34</lei>
        <title>D IETEREN GROUP</title>
        <cusip>B49343187</cusip>
        <identifiers>
          <isin value="BE0974259880"/>
          <ticker value="SIEVF"/>
        </identifiers>
        <balance>868</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>160473.2</valUSD>
        <pctVal>0.0850847363</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NI US GOV T PORTFOLIO</name>
        <lei>549300Y178DO5JBR1S04</lei>
        <title>NI US GOV T PORTFOLIO</title>
        <cusip>665278404</cusip>
        <identifiers>
          <isin value="US6652784041"/>
          <ticker value="BNGXX"/>
        </identifiers>
        <balance>3194242.93</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3194242.93</valUSD>
        <pctVal>1.6936243393</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TIS INC</name>
        <lei>35380064HYEZXBQHDF07</lei>
        <title>TIS INC</title>
        <cusip>J8T622102</cusip>
        <identifiers>
          <isin value="JP3104890003"/>
          <ticker value="3626"/>
        </identifiers>
        <balance>19200</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>414304.09</valUSD>
        <pctVal>0.2196687935</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SIEMENS HEALTHINEERS AG</name>
        <lei>529900QBVWXMWANH7H45</lei>
        <title>SIEMENS HEALTHINEERS AG</title>
        <cusip>D6T479107</cusip>
        <identifiers>
          <isin value="DE000SHL1006"/>
          <ticker value="SEMHF"/>
        </identifiers>
        <balance>1060</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>44467.37</valUSD>
        <pctVal>0.0235771110</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>ENDESA SA</name>
        <lei>549300LHK07F2CHV4X31</lei>
        <title>ENDESA SA</title>
        <cusip>E41222113</cusip>
        <identifiers>
          <isin value="ES0130670112"/>
          <ticker value="ELEZF"/>
        </identifiers>
        <balance>7860</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>331460.3</valUSD>
        <pctVal>0.1757440633</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HEIDELBERG MATERIALS AG</name>
        <lei>LZ2C6E0W5W7LQMX5ZI37</lei>
        <title>HEIDELBERG MATERIALS AG</title>
        <cusip>D31709104</cusip>
        <identifiers>
          <isin value="DE0006047004"/>
          <ticker value="HLBZF"/>
        </identifiers>
        <balance>3287</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>676986.19</valUSD>
        <pctVal>0.3589458641</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>ACCIONA SA</name>
        <lei>54930002KP75TLLLNO21</lei>
        <title>ACCIONA SA</title>
        <cusip>E0008Z109</cusip>
        <identifiers>
          <isin value="ES0125220311"/>
          <ticker value="ACXIF"/>
        </identifiers>
        <balance>1107</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>292145.78</valUSD>
        <pctVal>0.1548990526</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FORTUM OYJ</name>
        <lei>635400IUIZZIUJSAMF76</lei>
        <title>FORTUM OYJ</title>
        <cusip>X2978Z118</cusip>
        <identifiers>
          <isin value="FI0009007132"/>
          <ticker value="FORTUM"/>
        </identifiers>
        <balance>3920</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>99635.95</valUSD>
        <pctVal>0.0528281266</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NATURGY ENERGY GRP. SA</name>
        <lei>TL2N6M87CW970S5SV098</lei>
        <title>NATURGY ENERGY GRP. SA</title>
        <cusip>E7S90S109</cusip>
        <identifiers>
          <isin value="ES0116870314"/>
          <ticker value="GASNF"/>
        </identifiers>
        <balance>8288</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>248835.12</valUSD>
        <pctVal>0.1319352425</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FRESENIUS MEDICAL CARE AG</name>
        <lei>549300CP8NY40UP89Q40</lei>
        <title>FRESENIUS MEDICAL CARE AG</title>
        <cusip>D2734Z107</cusip>
        <identifiers>
          <isin value="DE0005785802"/>
          <ticker value="FMCQF"/>
        </identifiers>
        <balance>17476</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>777530.85</valUSD>
        <pctVal>0.4122557993</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>DEUTSCHE TELEKOM AG</name>
        <lei>549300V9QSIG4WX4GJ96</lei>
        <title>DEUTSCHE TELEKOM AG</title>
        <cusip>D2035M136</cusip>
        <identifiers>
          <isin value="DE0005557508"/>
          <ticker value="DTE"/>
        </identifiers>
        <balance>64931</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>2394269.15</valUSD>
        <pctVal>1.2694690404</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>SOCIETE GENERALE SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>SOCIETE GENERALE SA</title>
        <cusip>F8591M517</cusip>
        <identifiers>
          <isin value="FR0000130809"/>
          <ticker value="SCGLF"/>
        </identifiers>
        <balance>25816</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>1884983.6</valUSD>
        <pctVal>0.9994399844</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KONE OYJ</name>
        <lei>2138001CNF45JP5XZK38</lei>
        <title>KONE OYJ</title>
        <cusip>X4551T105</cusip>
        <identifiers>
          <isin value="FI0009013403"/>
          <ticker value="KNYJF"/>
        </identifiers>
        <balance>5091</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>324583.43</valUSD>
        <pctVal>0.1720978677</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ENGIE SA</name>
        <lei>LAXUQCHT4FH58LRZDY46</lei>
        <title>ENGIE SA</title>
        <cusip>F7629A107</cusip>
        <identifiers>
          <isin value="FR0010208488"/>
          <ticker value="ENGI"/>
        </identifiers>
        <balance>20887</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>673400.78</valUSD>
        <pctVal>0.3570448385</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DBS GRP. HLDGS. LTD</name>
        <lei>5493007FKT78NKPM5V55</lei>
        <title>DBS GRP. HLDGS. LTD</title>
        <cusip>Y20246107</cusip>
        <identifiers>
          <isin value="SG1L01001701"/>
          <ticker value="DBSDF"/>
        </identifiers>
        <balance>900</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.2857"/>
        <valUSD>39990.01</valUSD>
        <pctVal>0.0212031632</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ORIGIN ENERGY LTD</name>
        <lei>ZSN2LWNPYW6ISMRUC664</lei>
        <title>ORIGIN ENERGY LTD</title>
        <cusip>Q71610101</cusip>
        <identifiers>
          <isin value="AU000000ORG5"/>
          <ticker value="ORG"/>
        </identifiers>
        <balance>37621</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4493803"/>
        <valUSD>322426.09</valUSD>
        <pctVal>0.1709540212</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ARISTOCRAT LEISURE LTD</name>
        <lei>529900TE2HO3OZKYKC27</lei>
        <title>ARISTOCRAT LEISURE LTD</title>
        <cusip>Q0521T108</cusip>
        <identifiers>
          <isin value="AU000000ALL7"/>
          <ticker value="ARLUF"/>
        </identifiers>
        <balance>3087</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4493803"/>
        <valUSD>98087.39</valUSD>
        <pctVal>0.0520070623</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MIZUHO FINL. GRP. INC</name>
        <lei>353800CI5L6DDAN5XZ33</lei>
        <title>MIZUHO FINL. GRP. INC</title>
        <cusip>J4599L102</cusip>
        <identifiers>
          <isin value="JP3885780001"/>
          <ticker value="MZHOF"/>
        </identifiers>
        <balance>51600</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>2059606.21</valUSD>
        <pctVal>1.0920269006</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KAO CORP</name>
        <lei>353800HM38HFCB8RGL63</lei>
        <title>KAO CORP</title>
        <cusip>J30642169</cusip>
        <identifiers>
          <isin value="JP3205800000"/>
          <ticker value="KAOCF"/>
        </identifiers>
        <balance>26000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>1015953.76</valUSD>
        <pctVal>0.5386703683</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AIB GRP. PLC</name>
        <lei>635400AKJBGNS5WNQL34</lei>
        <title>AIB GRP. PLC</title>
        <cusip>G0R4HJ106</cusip>
        <identifiers>
          <isin value="IE00BF0L3536"/>
          <ticker value="AIBRF"/>
        </identifiers>
        <balance>157400</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>1674094.12</valUSD>
        <pctVal>0.8876239566</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JAPAN AIRLINES CO LTD</name>
        <lei>3538002MH5L1QZZ93477</lei>
        <title>JAPAN AIRLINES CO LTD</title>
        <cusip>J25979121</cusip>
        <identifiers>
          <isin value="JP3705200008"/>
          <ticker value="JPNRF"/>
        </identifiers>
        <balance>33500</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>545046.78</valUSD>
        <pctVal>0.2889900715</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SINGAPORE TECHS. ENG. LTD</name>
        <lei>254900OEXGGWCR24DG90</lei>
        <title>SINGAPORE TECHS. ENG. LTD</title>
        <cusip>Y7996W103</cusip>
        <identifiers>
          <isin value="SG1F60858221"/>
          <ticker value="SGGKF"/>
        </identifiers>
        <balance>107200</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.2857"/>
        <valUSD>913630.47</valUSD>
        <pctVal>0.4844173831</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOMURA RESEARCH INSTITUTE</name>
        <lei>5299005F1HCVF4M4QN79</lei>
        <title>NOMURA RESEARCH INSTITUTE</title>
        <cusip>J5900F106</cusip>
        <identifiers>
          <isin value="JP3762800005"/>
          <ticker value="NURAF"/>
        </identifiers>
        <balance>23600</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>653898.16</valUSD>
        <pctVal>0.3467043251</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK HAPOALIM BM</name>
        <lei>B6ARUI4946ST4S7WOU88</lei>
        <title>BANK HAPOALIM BM</title>
        <cusip>M1586M115</cusip>
        <identifiers>
          <isin value="IL0006625771"/>
          <ticker value="BKHPF"/>
        </identifiers>
        <balance>12826</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.1443"/>
        <valUSD>300210.35</valUSD>
        <pctVal>0.1591749804</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LY CORP NPV</name>
        <lei>52990078MD2OL792YM35</lei>
        <title>LY CORP NPV</title>
        <cusip>J9894K105</cusip>
        <identifiers>
          <isin value="JP3933800009"/>
          <ticker value="YAHOF"/>
        </identifiers>
        <balance>403500</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>977943.47</valUSD>
        <pctVal>0.5185168754</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TELSTRA GROUP LTD</name>
        <lei>894500WRW54CVN62K416</lei>
        <title>TELSTRA GROUP LTD</title>
        <cusip>Q8975N105</cusip>
        <identifiers>
          <isin value="AU000000TLS2"/>
          <ticker value="TTRAF"/>
        </identifiers>
        <balance>111569</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4493803"/>
        <valUSD>410913.71</valUSD>
        <pctVal>0.2178711751</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BHP GRP. LTD</name>
        <lei>WZE1WSENV6JSZFK0JC28</lei>
        <title>BHP GRP. LTD</title>
        <cusip>Q1498M100</cusip>
        <identifiers>
          <isin value="AU000000BHP4"/>
          <ticker value="BHPLF"/>
        </identifiers>
        <balance>1273</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4493803"/>
        <valUSD>46513.15</valUSD>
        <pctVal>0.0246618071</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUBARU CORP</name>
        <lei>549300N244BVAEE6HH86</lei>
        <title>SUBARU CORP</title>
        <cusip>J7676H100</cusip>
        <identifiers>
          <isin value="JP3814800003"/>
          <ticker value="FUJHF"/>
        </identifiers>
        <balance>71500</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>1142235.28</valUSD>
        <pctVal>0.6056262826</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HITACHI LTD</name>
        <lei>549300T6IPOCDWLKC615</lei>
        <title>HITACHI LTD</title>
        <cusip>J20454112</cusip>
        <identifiers>
          <isin value="JP3788600009"/>
          <ticker value="HTHIF"/>
        </identifiers>
        <balance>7600</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>222114.72</valUSD>
        <pctVal>0.1177677791</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HONG KONG &amp; CHINA GAS CO</name>
        <lei>254900P7BETXGC7YU827</lei>
        <title>HONG KONG &amp; CHINA GAS CO</title>
        <cusip>Y33370100</cusip>
        <identifiers>
          <isin value="HK0003000038"/>
          <ticker value="HOKCF"/>
        </identifiers>
        <balance>63713</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.8412"/>
        <valUSD>58402</valUSD>
        <pctVal>0.0309654121</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ICL GROUP LTD</name>
        <lei>529900FQVQD88SHIGM04</lei>
        <title>ICL GROUP LTD</title>
        <cusip>M53213100</cusip>
        <identifiers>
          <isin value="IL0002810146"/>
          <ticker value="ICL"/>
        </identifiers>
        <balance>84954</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.1443"/>
        <valUSD>437732.14</valUSD>
        <pctVal>0.2320906151</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MURATA MFG. CO LTD</name>
        <lei>529900QZG6DL8ZRI7140</lei>
        <title>MURATA MFG. CO LTD</title>
        <cusip>J46840104</cusip>
        <identifiers>
          <isin value="JP3914400001"/>
          <ticker value="MRAAF"/>
        </identifiers>
        <balance>76600</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>1717427.02</valUSD>
        <pctVal>0.9105995586</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NIPPON YUSEN KK</name>
        <lei>353800YPW4XM0ZN5I149</lei>
        <title>NIPPON YUSEN KK</title>
        <cusip>J56515232</cusip>
        <identifiers>
          <isin value="JP3753000003"/>
          <ticker value="NYUKF"/>
        </identifiers>
        <balance>13700</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>502820.96</valUSD>
        <pctVal>0.2666014561</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VINCI SA</name>
        <lei>213800WFQ334R8UXUG83</lei>
        <title>VINCI SA</title>
        <cusip>F5879X108</cusip>
        <identifiers>
          <isin value="FR0000125486"/>
          <ticker value="VCISF"/>
        </identifiers>
        <balance>1567</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8651641"/>
        <valUSD>234685.62</valUSD>
        <pctVal>0.1244330149</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EUREXDEU</name>
        <lei>N/A</lei>
        <title>FUT. EURX E-STXX JUN26</title>
        <cusip>02052FAB5</cusip>
        <identifiers>
          <isin value="US02052FAB58"/>
          <ticker value="VGM6"/>
          <other otherDesc="NT_ID" value="9N3FHKU"/>
        </identifiers>
        <balance>45</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.8651641"/>
        <valUSD>2858128.29</valUSD>
        <pctVal>1.5154124914</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Eurex</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Euro Stoxx 50</indexName>
                <indexIdentifier>SX5E</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2026-06-19</expDate>
            <notionalAmt>2472750</notionalAmt>
            <curCd>EUR</curCd>
            <unrealizedAppr>20875.48</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LIFFE</name>
        <lei>N/A</lei>
        <title>FUT. FTSE JUN26</title>
        <cusip>02052FAB5</cusip>
        <identifiers>
          <isin value="US02052FAB58"/>
          <ticker value="Z M6"/>
          <other otherDesc="NT_ID" value="9N3BV0U"/>
        </identifiers>
        <balance>6</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.7555152"/>
        <valUSD>809963.84</valUSD>
        <pctVal>0.4294521436</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>ICE Futures Europe</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>FTSE 100 Index</indexName>
                <indexIdentifier>UKX</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2026-06-19</expDate>
            <notionalAmt>611940</notionalAmt>
            <curCd>GBP</curCd>
            <unrealizedAppr>17800.35</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MONTREAL</name>
        <lei>N/A</lei>
        <title>FUT. ME S&amp;P CAN JUN26</title>
        <cusip>02052FAB5</cusip>
        <identifiers>
          <isin value="US02052FAB58"/>
          <ticker value="PTM6"/>
          <other otherDesc="NT_ID" value="9N3BS2U"/>
        </identifiers>
        <balance>2</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>548573.08</valUSD>
        <pctVal>0.2908597563</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Montreal Exchange</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P/TSX 60 Index</indexName>
                <indexIdentifier>SPTSX60</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2026-06-18</expDate>
            <notionalAmt>763120</notionalAmt>
            <curCd>CAD</curCd>
            <unrealizedAppr>12837.74</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IMM</name>
        <lei>N/A</lei>
        <title>FUT. NIKKEI 225-YEN JUN26</title>
        <cusip>02052FAB5</cusip>
        <identifiers>
          <isin value="US02052FAB58"/>
          <ticker value="NHM6"/>
          <other otherDesc="NT_ID" value="9M22A0U"/>
        </identifiers>
        <balance>9</balance>
        <units>NC</units>
        <currencyConditional curCd="JPY" exchangeRt="158.705"/>
        <valUSD>1504914.78</valUSD>
        <pctVal>0.7979231248</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>International Monetary Market</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Nikkei</indexName>
                <indexIdentifier>NKY</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2026-06-11</expDate>
            <notionalAmt>238837500</notionalAmt>
            <curCd>JPY</curCd>
            <unrealizedAppr>31884.2</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SFE</name>
        <lei>N/A</lei>
        <title>JUN 26 SFE SPI 200JUN 26</title>
        <cusip>02052FAB5</cusip>
        <identifiers>
          <isin value="US02052FAB58"/>
          <ticker value="XPM6"/>
          <other otherDesc="NT_ID" value="9MZ3MLU"/>
        </identifiers>
        <balance>3</balance>
        <units>NC</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4493803"/>
        <valUSD>440515.86</valUSD>
        <pctVal>0.2335665755</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Sydney Futures Exchange</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>ASX 200 Index</indexName>
                <indexIdentifier>AS51</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2026-06-18</expDate>
            <notionalAmt>638475</notionalAmt>
            <curCd>AUD</curCd>
            <unrealizedAppr>1755.24</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-04-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Northern Funds</ncom:nameOfApplicant>
      <ncom:signature>Randal E. Rein </ncom:signature>
      <ncom:signerName>Randal E. Rein </ncom:signerName>
      <ncom:title>Treasurer and Principal Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
